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  • Rowad Tourism incurs LE 1.3 m loss in Q113

    Arab Finance - Thursday 23rd May, 2013

    ) reported consolidated financial results posting a net loss of LE 1,362,863 for the period from 01/01/2013 till 31/03/2013. Noting that, it posted net profits of LE 4,301,493 for the comparable ...

  • AfDB Powering a Climate-Smart and Greener Continent

    All Africa - Thursday 23rd May, 2013

    For the African Development Bank's Energy, Environment and Climate Change Department, transforming Africa means powering a climate-smart and greener continent. It entails supporting transformative infrastructure projects to increase energy access backed by both large-scale and off-grid solutions, promoting sustainable use of natural resources, supporting climate-resilience with ...

  • Launch of the One Campaign 2013 Data Report Financing the Fight for Africas Transformation

    All Africa - Thursday 23rd May, 2013

    Many African nations are booming, and despite high population growth, the proportion of people living in extreme poverty has declined by 16% over the last decade. As African governments accelerate efforts to transform their economies and boost growth, there are growing demands to ensure that growth is equitable and benefits all African citizens. Against this backdrop, the Millennium ...

  • AfDB and Malawi Sign Budget Support and Hydroelectric Feasibility Study Grants

    All Africa - Thursday 23rd May, 2013

    The African Development Bank and the Government of Malawi (GoM) signed two grants amounting to UA 6 million (about US $9 million) on May 23, for budgetary support and a Hydroelectric Power Plant Feasibility Study. The US $6 million additional Crisis Response Budgetary Support follows the initial US $39 million provided in July 2012 to support Malawi's reforms aimed at restoring ...

  • Egypt lowers the boom on Sinai and wins release of security officers

    World Tribune - Thursday 23rd May, 2013

    Special to WorldTribune.com CAIRO -- Egypt has employed negotiations and heavy military pressure to defuse an insurgency crisis in the Sinai Peninsula. The regime of President Mohammed Morsi has won the release of seven Egyptian soldiers and security officers held in Sinai. Officials said Bedouin gunmen released the seven unharmed on May 22 in a move that halted a major counter-insurgency ...

  • Qemmah Rooya Group to provide the latest in real estate solutions

    Arab Finance - Thursday 23rd May, 2013

    - Qemmah, a subsidiary of Summit Holding, specialized in providing and implementing Oracle E-Business Suite applications and Customer Resource Management (CRM) solutions has been contracted by Rooya Group, a real estate and construction company operating in Egypt, to install an Oracle E-Business Suite application to run Rooya's finance, supply chain and project management and costing in a ...

  • Explosion Kills One Person in Egyptian Peninsula

    Prensa Latina - Thursday 23rd May, 2013

    Cairo, May 23 (Prensa Latina) The explosion of an all terrain vehicle parked in the Egyptian city of Rafah killed one person, reported the ...

  • SODIC 1Q13 net income significantly below forecast on weak deliveries Hermes

    Arab Finance - Thursday 23rd May, 2013

    ) has reported 1Q2013 net income before minorities of only LE 6 million, significantly below our LE 34 million forecast. Hermes added that, We view the results negatively, given the weak deliveries that have driven the earnings disappointment. The company delivered only 37 units worth EGP115.8 million in its flagship project Allegria, much lower than our expectation. We believe that our ...

  • Egypt plans to issue sukuk in early 2014

    Reuters - Thursday 23rd May, 2013

    By Abhinav Ramnarayan Thu May 23, 2013 11:58am EDT LONDON, May 23 (IFR) - Egypt aims to issue a sukuk to international and domestic markets at the beginning of 2014, the country said in its new USD12bn euro medium term note programme. The Arab nation, rated Caa1/CCC+/B, wants to use Islamic bonds as a diversification tool to broaden the investor base and has been "targeting financing ...

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