• Monday, 16 November 2020

    Earnings Watch: At the buzzer: Lots and lots and lots of 3Q2020 earnings

    EARNINGS WATCH- Lots and lots of companies released earnings at the buzzer yesterday, the final day for listed corporations to release their 3Q numbers without incurring late fines. CIB will postpone the release of its third quarter financials until the...
  • Monday, 17 August 2020

    Earnings Watch: Orascom Development Egypt, Rameda, Fawry, B Investments, Raya, Beltone, ADIB, Oriental Weavers, GSK

    EARNINGS WATCH- Rameda Pharma reported 54% bottom line growth in 2Q2020, with net profits rising to EGP 19.9 mn from EGP 12.9 mn in 2Q2020, according to a company earnings release (pdf). Revenues rose 5.6% during the three-month period to...
  • Sunday, 9 August 2020

    Orascom Development Egypt sells EGP 104.8 mn land plot to Mangroovy Hotels

    Orascom Development Egypt has sold a 40k sqm plot of land in El Gouna to Mangroovy Hotels for EGP 104.8 mn, according to a bourse disclosure (pdf). Mangroovy will use the plot to provide “different types of services” for people...
  • Tuesday, 4 August 2020

    ODE taps veteran management consultant Omar El Hamamsy as CEO

    MOVES- Orascom Development Egypt (ODE) has appointed ex-McKinsey & Company senior partner Omar El Hamamsy (LinkedIn) its new CEO, according to a statement (pdf). El Hamamsy spent 18 years at McKinsey advising multinationals in the Middle East and Europe on...
  • Monday, 20 July 2020

    ODE, NIS to invest more than EGP 500 mn in two int’l schools in O West

    INVESTMENT WATCH- ODE, NIS to invest over EGP 500 mn in two int’l schools in O West: A recent partnership between Orascom Development Egypt (ODE) and Nermine Ismail School (NIS) will see upward of EGP 500 mn invested in a...
  • Thursday, 16 July 2020

    El Gouna property sales up almost 25% in 2Q2020

    Property sales in El Gouna have increased by 22% y-o-y to hit EGP 891.5 mn in the second quarter of 2020, Orascom Development Egypt (ODE) said in a press release (pdf). Contracts and reservations reached EGP 891.5 mn during the...
  • Thursday, 9 July 2020

    The coronavirus is fuelling a stock buyback boom in Egypt

    The coronavirus is fuelling a stock buyback boom in Egypt: Since March, EGX-listed companies have been buying back their own shares amid turmoil in global financial markets prompted by the pandemic. As the benchmark EGX30 index fell to three-and-a-half-year lows,...
  • Tuesday, 9 June 2020

    Earnings Watch: Orascom Development, Eastern Company

    EARNINGS WATCH- Orascom Development profits fall 50% in 1Q2020: Orascom Development Egypt (ODE) profits fell 51% year-on-year to EGP 92 mn in 1Q2020 as the disruption caused by the covid-19 pandemic hurt its tourism operations, according to the company’s earnings...
  • Monday, 8 June 2020

    Your top education stories of the week

    Your top education stories of the week: Agreement to develop two int’l schools in O West: Orascom Development Egypt (ODE) has signed an agreement with Nermine Ismail School (NIS) that will see NIS develop two K-12 international schools in the...

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