EFG Hermes named Best Brokerage House in Egypt and ranks among Africa’s top three Best-Performing Brokers
Egypt: EFG Hermes, the leading investment bank in the Arab world, has been recognized as Best Brokerage House in Egypt by emeaFinance magazine, recognizing its outstanding performance in one of the most challenging years on record. This is the second straight year EFG Hermes has taken home the emeaFinance Award. [AMEInfo.com]
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Orascom to bid for triple play licence
Egypt: Khaled Bichara, chief operating officer of Egypt’s Orascom Telecom has said that the company will likely bid for one of two ‘triple play’ licences on offer even if it completes the sale of its LINKdotNET internet unit, Reuters has reported. ‘We believe we are really well-positioned. They [the government] want the local players and international experience, and we believe we won’t need to go out of the group to make the bid,’ he said, [AMEInfo.com]
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Citadel Capital hires a General Manager for its East Africa expansion
Egypt: Citadel Capital, the leading private equity firm in the Middle East and North Africa with $8.3bn in investments under control, today announced that it has hired Hassan Massoud to head the firm’s East African office as it pursues growth opportunities across the Horn of Africa. [AMEInfo.com]
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Egypt urban inflation up in September
Egypt: Figures from Egypt’s state-run CAPMAS statistics agency have shown that the country’s annual urban inflation in September saw its first rise in ten months due to the rising cost of food and drinks, Reuters has reported. Urban inflation jumped to 10.8% in the year to September from 9.0% in the year to August. The main rise was seen in food prices, which jumped 3.7% on the month, while culture items gained 0.7%. Food and drink constitute the single largest category in the basket and have risen 23.6% since the start of the year. [AMEInfo.com]
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Citadel Capital hires Mohsen Mansour as a Vice President
Egypt: Citadel Capital, the leading private equity firm in the Middle East and North Africa with $8.3bn in investments under control, announced today that it has hired Mohsen Mansour as a Vice President. [AMEInfo.com]
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Mobidiv regionalizes the Android phones to touch the life styles of end users
Egypt: The first Android handset in the Mena market has been released in September 09 by two mobile operators utilizing CIT Mobidiv’s multilingual extended Realocalization technology. [AMEInfo.com]
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Mobidiv regionalizes the Android phones to touch the life styles of end users
Egypt: The first Android handset in the Mena market has been released in September 09 by two mobile operators utilizing CIT Mobidiv’s multilingual extended Realocalization technology. [AMEInfo.com]
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Mobidiv regionalizes the Android phones to touch the life styles of end users
Egypt: The first Android handset in the Mena market has been released in September 09 by two mobile operators utilizing CIT Mobidiv’s multilingual extended Realocalization technology. [AMEInfo.com]
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The Oberoi Zahra acclaimed the Best Five Star Cruiser on the Nile
Egypt: The Oberoi Zahra, Luxury Nile Cruiser has been designated the Best Five Star Cruiser on the Nile and The Oberoi, Sahl Hasheesh the Best Resort on the Red Sea by the Ministry of Tourism, Egypt, in the 2009 tourism awards. [AMEInfo.com]
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Suez Canal revenues fall 19%
Egypt: Revenues of Egypt’s Suez Canal had dropped 18.5% to $382.5m in September, compared to $469.6m in the same month last year, but were up from $371.8m in August, Reuters has reported. The number of vessels using the waterway was 1,454 in September down from 1,872 in September 2008 and little changed from 1,453 in August. [AMEInfo.com]
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MIddle East banks offer good value, says EFG-Hermes
Egypt: Egypt-based EFG-Hermes has said that Middle East banks still present attractive value compared to international peers, with return on equity expected to remain around 20% over the medium term for most banks, Reuters has reported. Banks in Qatar, Saudi Arabia and Oman were likely to show the quickest recovery, with credit growth expected to go up to a range of 12% to 15% in 2010 after having dipped to 4% to 6% in 2009, it said. The UAE is in better shape than was feared, the investment bank added. [AMEInfo.com]
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Egypt ICT Minister speaks at ITU Telecom conference in Geneva
Egypt: Speaking at one of the world’s biggest telecoms events, His Excellency Dr. Tarek Kamel, Egypt’s Minister for Communications and Information Technology emphasised the key role that developing countries can play in helping the world economy out of the current recession. [AMEInfo.com]
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Egypt’s SODIC eyes expansion abroad
Egypt: Egypt’s Sixth of October Development and Investment (SODIC) is considering expanding its operations outside Egypt and is eyeing Saudi Arabia, in particular, Reuters has reported. The developer is looking at residential property opportunities abroad towards the end of 2010. ‘We are now casting our net a little bit wider,’ Ahmed Badrawi, the firm’s chief business development officer told the news service. [AMEInfo.com]
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Telecom Egypt safeguards corporate network with TippingPoint IPS
Egypt: Telecom Egypt, one of the largest providers of fixed line services in the Middle East and Africa with 11.7 million subscribers (as at the end of December 2008), has implemented TippingPoint’s Intrusion Prevention Systems’ (IPS) to safeguard its corporate network. [AMEInfo.com]
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Raya International Services delivers Saline Water Conversion Company Enterprise Resource Planning
Egypt: Raya International Services delivered an Enterprise Resource Planning (ERP) solution for Saline Water Conversion Company (SWCC) automating its financial and supply chain management business cycles. [AMEInfo.com]
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VIP turnout for Alexandria City Centre extension
Egypt: General Adel Labib, Governor of Alexandria and Eng. Rachid Mohamed Rachid, Egyptian Minister of Trade and Industry inaugurated Alexandria City Centre’s massive 29,000 square metres extension at a spectacular VIP ribbon-cutting ceremony on Thursday, October 1. [AMEInfo.com]
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Sodic announces participation in Cityscape Dubai 2009
Egypt: Egyptian real estate development leader Sodic announced its participation in the upcoming Cityscape Dubai exhibition, taking place between 5th to 8th of October at the Dubai International Convention and Exhibition Centre. [AMEInfo.com]
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