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the mobile phone licence without frequencies in return for EGP2.5bn."
Location : New Cairo, Egypt Details : Dubai-based Al-Futtaim has raised EGP2 billion ($36 million) in a syndicated loan for the construction of commercial space in its Cairo Festival City development.
The company is also working on a $250m (EGP4.5bn) contract in Egypt's Sokhna mountain range; a project within Tatweer Misr's $117m (EGP2.1bn) Fouka Bay development; and its second Sharm installation, following the completion of its Guinness World Record-holding $500m (EGP9bn) Citystars Sharm El Sheikh lagoon.
The first phase of the project cost EGP2 bn, including the building of 2,000 residential units.
* Software Sales: EGP2.12bn in 2013 to EGP2.51bn in 2014, up 17.9% in local currency terms.
According to Reuters, Telecom Egypt said in a statement: "The firm's board of directors agreed in its emergency meeting on 4 May to obtain the mobile phone licence without frequencies in return for EGP2.5bn."
Telecom Egypt will have to pay EGP2.5bn ($360m) for the unified telecoms licence that will allow it to enter the mobile market, online media reported over the weekend.
Under a decision made at EFG-Hermes' board meeting last week, the bank will boost its capital to EGP2.1bn (USD352.8m/EUR241.1m) from EGP1.9bn currently.
Excluding these two non-core assets, the enterprise value of Olympic Group is estimated at EGP2.7bn.
Construction Products Company, a leader in the building products sector, will open its new industrial complex, built at a cost of over EGP2 billion ($351 million), in September.
The bank reported total consolidated net revenues of EGP2.2bn for the year ending 31 December 2008, a drop of 15.4 percent compared to EGP2.6bn in 2007.
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- eGovernment Act
- eGovernment Act of 2002
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- EGPRS Dynamic Abis Pool