First Independent Mena Newspaper
Egypt will inaugurate the first phase of the East Cairo Monorail on 9 November, marking a transformative step in Greater Cairo’s transport modernization agenda. Announced by Deputy Prime Minister and Minister of Industry and Transport, Kamel El-Wazir, during the second Cairo Forum, the project forms part of a broader national vision to enhance connectivity between […]
The Egyptian government has assigned a Bombardier-led consortium to build its monorail system in a contract valued at $4.5b. Bombardier and its partners, Orascom Construction and Arab Contractors, will build and maintain the system aiming to decongest the Egyptian capital and ease commute for its 20 million inhabitants. The system will be made of two […]
Chairman Sherif Samy of the Egyptian Financial Supervisory Authority (EFSA) has stated that the financial sector will be revised before the end of the year in order to ease and fasten the transactions. Capital markets in Egypt suffered deeply from the revolution which began in 2011 forcing several foreign portfolio managers to withdraw their money […]
Egypt’s Orascom Construction Industries (OCI) said shareholders had approved its offer to acquire its ordinary shares listed in Cairo in exchange for cash or OCI shares listed in Amsterdam. Shortly after the report, the company’s shares rose 1.7% to 267.86 Egyptian pounds at the close in the capital, the strongest since January 22nd. The stock […]
The government has sold 15% of its stake in mobile operator Tunisiana to the Qatar based Qtel group. The conclusion of the deal raises the stake owned by Qtel group in Tunisiana to 90% if stakes acquired directly and through subsidiaries are taken into consideration. However, the Tunisian government still holds on the remaining 10% […]