Edition:
United Kingdom

Ehab Farouk

Egyptian real estate firms' profit hit by coronavirus crisis

14 Sep 2020

CAIRO Egypt's five biggest listed real estate firms reported a combined profit fall of nearly 31% in the second quarter of 2020 as property sales slowed during the coronavirus crisis.

First Abu Dhabi Bank to restart talks on Bank Audi's Egypt unit - sources

06 Sep 2020

CAIRO/DUBAI First Abu Dhabi Bank (FAB) plans to restart talks to buy the Egyptian business of Lebanon's Bank Audi , two sources familiar with the matter said.

UPDATE 1-First Abu Dhabi Bank to restart talks on Bank Audi's Egypt unit -sources

06 Sep 2020

CAIRO/DUBAI, Sept 6 First Abu Dhabi Bank (FAB) plans to restart talks to buy the Egyptian business of Lebanon's Bank Audi, two sources familiar with the matter said.

First Abu Dhabi Bank wants to restart talks to buy Bank Audi's Egypt unit, say sources

06 Sep 2020

CAIRO/DUBAI First Abu Dhabi Bank (FAB) plans to restart talks to buy the Egyptian business of Lebanon's Bank Audi , two sources familiar with the matter said.

Egyptian bank Beltone diversifies in hunt for profitability

18 Aug 2020

CAIRO, Aug 18 Egyptian investment bank Beltone Financial Holding is diversifying into non-banking financial activities in a bid to return to profit in 2021, its CEO told Reuters on Tuesday.

UPDATE 1-Lebanon's Blom Bank considers selling Egypt subsidiary

11 Aug 2020

CAIRO/DUBAI, Aug 11 Lebanon's Blom Bank said on Tuesday it was looking to sell its subsidiary Blom Bank Egypt, and that the Egyptian central bank had given approval to begin the due diligence process.

Egypt's Beltone to sell stake in brokerage Auerbach in 2020

13 Jan 2020

CAIRO Egyptian investment bank Beltone Financial Holding plans to sell its 60% stake in New York-based brokerage Auerbach Grayson & Company to help stem losses, the bank's chief executive said on Monday.

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.

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