Top Egypt News

  • OTVentures acquires the leading group-buying company DARE'n'DEAL


    OTVentures, the regional giant in online and mobile technology, an affiliate of Orascom Telecom, Media & Technology (OTMT), acquired 51% in DARE'n'DEAL, the largest and fastest growing group-buying site in Egypt, valued at EGP 20 million. Press Release - 14Feb 11:18GMT
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  • Egyptians revive calls for union law


    A law was indeed drafted and approved by the government. But Egypt's ruling military council, faced with mounting strikes and stoppages by workers demanding improved pay and conditions, refused to approve it. Financial Times - 14Feb 05:15GMT
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  • France Telecom, Orascom reach deal on Egypt mobile unit


    France Telecom said on Monday it had signed a non-binding accord to acquire most of the stake held by Egyptian mobile phone services company Orascom in their ECMS cellphone joint venture. AFP - 13Feb 10:54GMT
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  • Egyptian company sells 25,000 tons of veg oil to Iraq


    The Iraqi Trade Ministry has inked a contract with Egyptian company Arma for the purchase of 25,000 tons of vegetable oil. AK News - 13Feb 06:57GMT
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  • Orascom says in 'advanced talks' with France Telecom


    Egyptian mobile phone services company, Orascom, said Sunday it was holding advanced talks with France Telecom over the future of mobile operator Mobinil. AFP - 13Feb 05:21GMT
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  • IMF deal critical for Egypt, say economists


    Egypt needs a quick agreement with the International Monetary Fund in order to avert a currency crisis after the depletion of more than half its foreign currency reserves, economists and analysts say. Financial Times - 13Feb 04:19GMT
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  • Mobinil,OTMT shares suspended pending clarity on Mobinil future -EGX


    The Egyptian Stock Exchange said it has suspended trading in the shares of Egyptian Co. for Mobile Services, or Mobinil, and Orascom Telecom Media and Technology, or OTMT, pending clarification on Mobinil's future. Zawya Dow Jones News - 12Feb 10:41GMT
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  • Egypt-US row over aid workers can be 'resolved': McCain


    Top US Senator John McCain said Saturday that a diplomatic row with Egypt over the planned trial in Cairo of several workers from American pro-democracy groups can be resolved within days. AFP - 12Feb 04:55GMT
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  • Kuwait Energy makes a new well discovery in Egypt


    Kuwait Energy, one of the fastest growing independent oil and gas exploration and production companies in the Middle East, today announced that it has made an oil well discovery in the Western Desert in Egypt. Press Release - 11Feb 09:08GMT
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  • Egypt braces for strikes to mark Mubarak's ouster


    Activists planned a day of civil disobedience in Egypt on Saturday to mark exactly a year since they toppled Hosni Mubarak but left an increasingly unpopular but defiant military in charge. AFP - 11Feb 08:24GMT
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Most trusted ME banks
Thirty-three Middle East banks are among 500 of the world's most trusted banks, according to a new study.
 

 
Increased revenues
The Ministry of Planning and International Cooperation released a report which stated that Egypt revenues increased by 19 per cent during the first quarter of the current fiscal year to reach LE43 billion, outpacing the increase in expenditures through the same period which came at 15 per cent.
 

 
Bracing for a row
A row is bubbling under the surface as businesses brace for new regulations, which are expected to limit government export subsidies, reports Ahmed Kotb.
 
 
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| No. of Employees | Total revenue
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1 Orascom Construction Industries Egypt 9,224
2 Telecom Egypt Egypt 4,778
3 Orascom Telecom Holding Egypt 3,790
4 Commercial International Bank (Egypt) Egypt 2,393
5 Egyptian Company for Mobile Services Egypt 2,285
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