Sawiris considers USD2bn investment in Telecom Italia -source
Egyptian billionaire Naguib Sawiris wants to invest up to USD 2 billion in Telecom Italia if its biggest shareholder Telefonica pulls out of the Italian group, a source familiar with the matter said on Monday.
Egypt's main index ends week 1.7% up, nears 7900
Egypt's stocks ended this week higher with gains totalling 6 billion Egyptian pounds bolstered by non-Arab foreign buying appetite. Accordingly, the main stock index, EGX30 finish this week 1.7% up to near 7900 points.
Losses at Orascom Hotels
The plunge in Egyptian tourist figures has negatively affected the results of Orascom Hotels, the Swiss-listed company owned by businessman Samih Sawiris.