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Latest Economy of Egypt Stories

2013-10-07 20:23:16

TORONTO, Oct. 7, 2013 /CNW/ - Accelero Capital Holdings S.à.r.l. ("Accelero") is very disappointed by the Federal Government's unexpected rejection of its proposed acquisition of Allstream. Accelero announced its plan to acquire Allstream, a division of Manitoba Telecom Services Inc. (TSX:MBT) ("MTS Allstream"), on May 24, 2013. The proposed transaction was the result of an extensive strategic review process launched by MTS Allstream and was consistent with the Federal...

2013-05-24 08:24:17

TORONTO, May 24, 2013 /CNW/ - Accelero Capital Holdings S. r.l. Group ("Accelero") today announced it has signed a binding agreement with Manitoba Telecom Services Inc. (TSX: MBT) to acquire the Allstream business ("Allstream" or the "Company") in a transaction that values Allstream at $520 million, subject to certain customary adjustments, including assumed debt obligations and normalized working capital, as well as certain pension related obligations. The transaction is expected...

2012-06-13 10:24:41

MORRISVILLE, N.C., June 13, 2012 /PRNewswire/ -- Alliance One International, Inc. (NYSE: AOI) today announced improved results for its fiscal year ended March 31, 2012 driven by revenue, operating margin and net income growth. Fiscal Year Results For the year ended March 31, 2012, the Company reported net income of $29.5 million, or $0.34 per basic share, compared to a net loss of $71.6 million, or ($0.81) per basic share last year. Fourth quarter revenue was a record $780.8...

2011-12-20 23:01:00

CAIRO, Dec. 21, 2011 /PRNewswire/ -- Egypt's Information Technology Industry Development Agency (ITIDA) proudly announces it has been a landmark year for the country's outsourcing industry, having achieved its goal of reaching $1.1 billion in ICT export revenue. Passing its $1 billion target Egypt is now setting itself up for its next wave of growth - targeted at $10 billion by 2020. The sector has recorded strong and consistent growth this year, with a 12 percent increase in the...

2011-11-07 05:00:00

FRANKENTHAL, Germany and CAIRO, November 7, 2011 /PRNewswire/ -- More than US$ 30 million invested The RKW Group has started production at its first plant in Egypt. The company built a totally new manufacturing facility in Cairo in less than 16 months. The new plant, RKW Egypt, will be officially inaugurated on November 10, 2011 in the presence of the shareholder families, a major customer, machine suppliers, Egyptian government representatives and the RKW Board of...

2011-06-13 07:59:00

CAIRO, June 13, 2011 /PRNewswire/ -- Recent Investment and Commitments From HP, Cisco and Motorola Reinforce Strength of Egypt's ICT Sector - Hewlett-Packard (HP) and ITIDA sign MoU providing world-class training to Egyptian hardware companies - Cisco invests $10million to seed sustainable job creation and economic growth in Egypt - Motorola expands regional operations in Egypt Egypt continues to prove its appeal as...

2011-05-27 06:00:00

LONDON, May 27, 2011 /PRNewswire/ -- Travelmatch is advising travellers to stay positive as it appears that an ash cloud will not disrupt flights this weekend; the company is still recommending that British tourists monitor various online sources to stay on top of this developing situation. Online travel provider Travelmatch is advising tourists to track the situation carefully as a second ash cloud returns to Europe. The eruption of the Grimsvotn volcano in Iceland has created an ash...

2009-10-06 09:34:00

GENEVA, Oct. 6 /PRNewswire/ -- Speaking at one of the world's biggest telecoms events, His Excellency Dr. Tarek Kamel, Egypt's Minister for Communications and Information Technology emphasised the key role that developing countries can play in helping the world economy out of the current recession. Joining leading industry and political figures from across the world, Dr. Kamel made a strong case for investment into economies like Egypt that have an abundance of qualified human capital...

2009-10-05 09:52:00

CAIRO, Oct. 5 /PRNewswire/ -- Egypt's IT industry has this week celebrated the launch of e-signature services for the public and private sector. The electronic signature will authorize the Ministry of Finance and a number of companies to offer the first authentication services to governmental entities, public sector companies and individuals in Egypt. This E-Signature Law, issued in 2004 and established the Information Technology Industry Development Agency (ITIDA), is the first Egyptian...

2009-08-25 10:32:00

CAIRO, Aug. 25 /PRNewswire/ -- Reports yesterday revealed that Egypt's overall economy expanded by 4.7 percent in the fiscal year through June, fuelled by the expansion of its information and communications technology industry which grew by 14.6 percent. In the past year, Egypt has strengthened its position as one of the world's fastest growing outsourcing destinations through a number of international MoUs and investment in the country's ICT infrastructure and education. Commenting on...