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Ehab Farouk

Egypt's sovereign wealth fund to raise authorized capital to up to 1 trillion pounds

12 Nov 2019

CAIRO, Nov 12 Egypt's sovereign wealth fund is expected to increase its authorized capital to up to a trillion Egyptian pounds ($62.15 billion) from 200 billion pounds within three years, depending on investors' appetite, the fund's executive director said.

Spain's Glovo targets 50% of Egypt online delivery services in 18 months

27 Oct 2019

CAIRO Spanish startup Glovo is targeting 50% of the online delivery market in Egypt within 18 months and intends to invest 5 million euros ($5.5 million) during the coming period, an executive at the company's Egyptian unit said.

Spain's Glovo targets 50% of Egypt online delivery services in 18 months

27 Oct 2019

CAIRO, Oct 27 Spanish startup Glovo is targeting 50% of the online delivery market in Egypt within 18 months and intends to invest 5 million euros ($5.5 million) during the coming period, an executive at the company's Egyptian unit said.

UPDATE 1-Egypt's Qalaa to raise production capacity to 5.5 mln tonnes/year in 2021

20 Oct 2019

CAIRO, Oct 20 Egypt's Qalaa Holdings, one of the country's largest investment companies, will increase its refinery production capacity to 5.5 million tonnes of oil products per year in 2021 from 4.2 million now, the company's chairman told Reuters.

Shell aims to operate Egypt concessions in second half, 2020

17 Oct 2019

ALEXANDRIA, Egypt Royal Dutch Shell is aiming to start operating in its concession areas in Egypt in the second half of 2020, a senior executive said.

UPDATE 1-Shell aims to operate Egypt concessions in H2, 2020

17 Oct 2019

ALEXANDRIA, Egypt, Oct 17 Royal Dutch Shell is aiming to start operating in its concession areas in Egypt in the second half of 2020, a senior executive said.

UPDATE 1-Egypt's SODIC interested in Heliopolis Housing stake - CEO

19 Sep 2019

CAIRO, Sept 19 Egyptian property developer Sixth of October Development and Investment Co (SODIC) is interested in buying a 10% stake in state-controlled Heliopolis Housing, its CEO said on Thursday.

Egyptian transport start-up Swvl targets expansion in Africa, Asia

16 Sep 2019

CAIRO Egyptian transport technology start-up Swvl will expand into two cities in Pakistan in the next two weeks and begin operations in Nigeria's commercial capital Lagos before the end of the year, its chief executive told Reuters.

UPDATE 1-Egypt's Fawry eyes UAE deal, Saudi and Kuwaiti markets

08 Sep 2019

CAIRO, Sept 8 Egyptian digital payments company Fawry plans to expand into the United Arab Emirates by the end of the year and also hopes to enter Saudi Arabia and Kuwait in 2020, its managing director said.

Egypt's ending of monthly customs rate may raise inflation - analysts

02 Sep 2019

CAIRO, Sept 2 Egypt's decision to scrap a monthly fixed customs exchange rate could lead to higher inflation in the coming months if the Egyptian pound declines significantly against the dollar, analysts said.

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