Ezz Steel reports EGP 137m net loss in Q1 of 2016
More obstacles will face Ezz Steel during the remaining months of FY 2016, says Prime Holdings
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Following release of savings certificates, EGX sheds EGP 8.5bn
UK and Russia’s suspension of flights takes toll on stock market
Standard Chartered plans job cull on third-quarter loss
Qalaa Holding registers EGP 84.7m losses
Company reported EGP 2.08bn in revenues in Q2 of 2015
Marseilia Egyptian Gulf Real Estate Investment shifts from loss to profit in H1 of 2015
In first half of 2015, the company’s net profits reached EGP 10.3m
Orascom Development Holding sees loss in Q1 of 2015
Company has made losses worth CHF 37.963m, compared to profits made in same period last year amounting to CHF 3.9m
Tourism investors face obstacles in Egypt
Banks prefer to loan government over investors, says Egyptian Tourism Federation Chairman
Correction: SODIC registers EGP 477m net loss in 2013
The Daily News Egypt reported yesterday that real estate company Sixth of October Development and Investment (SODIC) reported a net profit of 229m, however, 2013 actually ended with a net loss of EGP 447m. “The company actually made a net loss. This [229m net profit] would have been the figures if not for the take-offs,” …
Swiss-Listed Orascom warns on profit amid Egyptian instability
Specific factors hitting Orascom include lower capitalisation of financing costs, the devalued Egyptian currency, but also impairments on investments and a review of its taxation
Black market revenues of petroleum products total EGP 30bn
Former petroleum minister discusses issue in a meeting with the government
Sony cuts 5,000 jobs, exits PC business and books $1 bn loss
The shock news comes a week after Moody’s downgraded its credit rating on Sony to junk
Mobinil continues to register losses
The mobile operator is still struggling with net losses in the second quarter of 2013
Economy reels from recent turmoil
Economic experts weight in on the effects of ongoing violence
Asian markets slip on weak US manufacturing
Hong Kong (AFP) – Asian markets slipped further on Wednesday following losses in Europe and on Wall Street after a third straight monthly contraction in US manufacturing activity. The disappointing US data followed poor numbers on factory activity from Asia and Europe but dealers looked forward to a European Central Bank meeting, optimistic there would …
Apple patent win may reshape sector
Apple’s $1 billion victory could reshape the electronics sector, say analysts
Facebook at half-price: which way now?
Washington (AFP) — If you bought Facebook shares in the May IPO and held onto them, by Monday morning you would have lost more than half your investment, and not see any encouraging signs of making your money back. Three months after the largest tech share issue ever on US markets, Facebook fell to a …
Maridive posts $22.8m in losses during first half of 2012
MOIL Egypt facing a tough fiscal position, losses $22.7 millions in the first half of 2012
Exports on a downward trajectory
Egyptian exports continued a decline that started at the beginning of the current year, recording only EGP 78.8 billion in the first half of 2012, compared to EGP 79.45 billion in the first half of 2011. Exports fell 17 percent in July, coming in at EGP 9.385 billion, compared to EGP 11.293 billion in …
Summer Ramadan yields adverse impact on banks
By Asmaa Nabil With the arrival of Ramadan during the summer, several bank divisions are expected to suffer from a period stagnation, in contrast to the usual stability of this time of year. Banks traditionally see an increase in demand for credit that coincides with Egyptians returning from abroad. In addition, banks often reduce their …
Mobinil cuts losses by EGP 47m during first half of 2012
The Egyptian mobile company has seen decline in losses but still faces a sizable deficit.