Middle East Investment 2015
CAIRO Egyptian Steel says it is pushing ahead with plans to quadruple its capacity despite long-standing currency and energy crises, with trial production at one new plant starting in December but another project at Ain Soukhna delayed until late next year.
RIYADH Saudi Arabia's Etihad Etisalat aims to become profitable again within 12 months, its chief executive said this week, a year after the kingdom’s number two telecom operator made the first in a series of shock earnings restatements.
CAIRO Banque Du Caire, Egypt's third largest state bank, expects a 40-45 percent increase in profits this year following a restructuring, according to its chairman, Mounir El Zahid.
RIYADH The chief executive of National Industrialization Co (Tasnee), which has interests in petrochemicals, metals and chemicals, said any big rise in Saudi natural gas prices risked "killing the golden goose".
KUWAIT KIPCO is ready to fund construction of its planned $5 billion real estate project in Kuwait, but is open to bringing in partners to help speed up completion, its vice chairman said on Tuesday.
RABAT Morocco expects auto industry exports to reach an annual 100 billion dirhams ($10.2 billion) by 2020 as a result of PSA Peugeot Citroen starting production at its new 557 million euro ($630 million) factory.
CAIRO Egypt's stock exchange was hit by this year's rout in emerging markets, leading firms to postpone share offerings and liquidity to dry up, but parliamentary elections should help restore investor confidence in 2016, chairman Mohamed Omran said.
RIYADH Saudi Arabia's Dar Al Arkan Real Estate Development Co thinks it can keep growing next year despite low oil prices, as the government prioritizes spending on housing and tries to increase the private sector's role in ending a shortage of homes.
CAIRO Egypt's Beltone Financial Holding expects to manage four stock market flotations worth a total of more than 2.5 billion Egyptian pounds ($311 million) in the first half of 2016 on the back of improved market conditions, its chairman said. The offerings, including one by Beltone Capital, managed by Beltone Financial's private equity arm, had been expected in 2015 but were postponed when an emerging markets rout deterred investors from Egyptian markets.
CAIRO Its fiery former chief executive no longer at the helm, Egypt's state-owned landline monopoly Telecom Egypt (TE) says it is resolving longstanding disputes with mobile providers that may pave the way for the mobile license it has sought for years.
CAIRO Egypt aims to start natural gas production from its massive offshore Zohr field in 2017, a year ahead of schedule, oil minister Tarek El Molla said.