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Earnings watch: Elsewedy Electric’s net profit and revenues fall in 3Q2018
EARNINGS WATCH- Elsewedy Electric’s consolidated net profit fell to EGP 1.16 bn in 3Q2018 from EGP 1.58 bn during the…
Energy
Egypt’s IMS targets USD 500 mn in solar investments
Intelligent Micro Solutions (IMS) is currently in talks with several financial institutions and foreign companies to arrange USD 500 mn…
Shell aims to increase West Delta output to 450 mcf/d by end-2018-19
Shell aims to increase natural gas output from the West Nile Delta Burullus and Rashid fields to 450 mcf/d, by…
Other news worth noting
On an otherwise very quiet news day for Egypt, AFP suggests newly discovered gas fields will be a lifeline for…
Abbasiya Cathedral’s 50-year anniversary leads coverage on the airwaves
The Abbasiya Cathedral’s golden jubilee celebration was a hot topic for the talking heads on an evening devoid of any…
Qalaa promotes its Egyptian Refining Company at African forum
Qalaa Holdings showcased its USD 4.3 bn petroleum refinery Egyptian Refining Company (ERC) as a case study for increasing the…
ASORC in talks with local, Gulf banks for USD 500 mn loan in financing for refinery
The Assiut Oil Refining Company (ASORC) is in talks with local and Gulf banks for a USD 500 mn loan…
RGS Egypt eyes new USD 20 mn factory with China’s Sako Power
Egypt’s RGS is in talks with China’s Sako to build a USD 20 mn plant to manufacture solar inverters, with…
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