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MTI, ADM move to corner ultra-luxury auto market with new Rolls-Royce, Lamborghini dealerships as gray market fades
While many sectors struggled, the devaluation of the EGP turned luxury vehicles into attractive assets that store or even appreciate…
Gov’t on the lookout for new partner for USD 2.3 bn pumped storage hydropower project in Ataka. PLUS: KFH Egypt, Dsquares + Prepit, CI Capital, Aria Technologies, MM Group, Coca Cola
China's SinoHydro initially inked an agreement to build the 2.4 GW project all the way back in 2015
Elsewedy Electric, Fawry, Telecom Egypt, Rameda, and MM Group report 3Q earnings
Elsewedy Electric saw its net income after minority interest rise 92.2% y-o-y in 3Q 2024
Central bank switches around rules for hiring auditors and accountants. PLUS: News from Misr Ins. Holding and MM Group
Firms have 12 months to comply with the new rules.
IDH, TMG, Eastern Company report 1Q earnings
TMG saw a sixfold increase in its net income
Xinxing has another USD 250 mn worth of investments in the pipeline for Egypt. PLUS: Locally made e-bikes, MM Group Saudi expansion, Madinet Masr launches Sarai project, CIB eyes green on-lending funds, Farahy looks to GCC investors
The Chinese state-owned company just broke ground on a USD 146 mn ductile pipe factory
Gov’t’s Pharos Energy bill rises to USD 37 mn. PLUS: Schneider solar projects, Tata Motors team up with MM Group, ValU + Bosta + PayTabs, Heliopolis Housing project, Nokia factory, new ADIB microfinance firm
The company intends to refrain from retrieving its USD-denominated receivables due to the exchange rate volatility.
MTI to acquire 40% of B Investments’ B Pharma
The transaction values B Pharma at around EGP 512.5 mn
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