AMEinfo.com | Egypt | Latest News
Fri Jul 8 23:46:12 EDT 2011
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Schneider Electric and Applications partners in Maadi - Egypt: Schneider Electric, the global specialist in energy management, is celebrating the opening of their newest system integrator showroom, Applications, the first system integration showroom in Egypt to be operated by iPhone, which is more than just your typical place to experience fully automated environment. [AMEInfo.com]


Al Baraka expects to raise $168m from sukuk sale - Egypt: The Egypt-based Shariah-compliant subsidiary of Albaraka Banking Group, Al Baraka Bank Egypt, has said the sale of 10-year Islamic bonds this summer is expected to raise EGP1bn ($168m), Bloomberg has reported. The lender has "begun the sale of the floating-rate sukuk this month, and we will keep the sale open for another three months," Albaraka Group's Manama-based CEO Adnan Ahmed Yousif said. "The bank will use the funds to help restructure liabilities" and to finance "growth plans," he said. [AMEInfo.com]

Arabtec Egypt wins Marassi project - Egypt: Dubai-based developer Emaar Properties has awarded Arabtec Egypt a $36.8m contract for its project in the north of the country, Wam has reported. The Egyptian subsidiary of Arabtec, a joint venture with Egypt's Amer Group, won the contract to build 170 villas at Emaar's Marassi project on Egypt's northern coast. [AMEInfo.com]

Egypt government grants steel plant licenses - Egypt: The Egyptian cabinet has granted four companies licences for steel plants in the country, as the government seeks to boost production and lower imports of supplies for the construction industry, Ahram has reported. The production capacity of the factories is 2 million tonnes of rebar and 1 million tonnes of billet steel, the ministry of trade said. Two plants will be located in southern Egypt and the other two in the Nile Delta with total investments at EGP3bn ($503.5m). [AMEInfo.com]

LINKdotNET appoints Waseem Arsany as CEO - Egypt: LINKdotNET, the internet services provider, announced that Waseem Arsany has been appointed as CEO of the company following Mr. Karim Beshara as of July 1st, 2011. In his new role, Arsany will be responsible for leading a team of more than 1200 experts, and executives of LINKdotNET. Serving several hundreds of thousands of customers, and being the biggest ISP in the Egyptian market for over 19 years with its outreach, expertise, and excellent record LINKdotNET bears a huge responsibility towards the Country and the Egyptian society providing the best possible internet service to support the need for knowledge, and progression. [AMEInfo.com]