Egypt’s Ghabbour family faces $13.6 million loss in GB Corp shares
The Ghabbour family holds a 63.4 percent controlling stake in GB Corp., equivalent to 688,207,000 shares.
Egypt
Orascom Construction consortium powers ahead with Egypt’s largest wind farm expansion
The Ras Ghareb Wind Farm development project, reaffirms Orascom’s commitment to shaping a cleaner, more sustainable future for Egypt.
Egypt’s Hassan Allam Holding secures $703.6 million financing for Suez Wind Farm
The $703.6 million financing package was provided by a consortium of financial institutions.
Egypt’s richest family-led Orascom Construction to pay $24.3 million in interim dividend
The dividend announcement follows a resilient financial performance for the first nine months of 2024, with Orascom reporting $2.32 billion in revenue.
Oriental Weavers expands treatment plant as part of sustainability push
The facility, which operates with four consecutive treatment stages, is capable of processing up to 1,250 cubic meters of wastewater per day.
Raya Holding enters Saudi Market with $26.6 million Jarir partnership
This reflects the conglomerate’s ambition to broaden its regional presence and highlights its dedication to diversifying financial services across the Middle East.
Beltone approves $211 million to power expansion and growth goals
The fresh funds will support Beltone's initiatives to deepen its capabilities and strengthen its competitive positioning in the MENA region’s fast-evolving financial services sector.
Madinet Masr secures $177 million for Egypt’s development projects
The development projects, which are set to generate more than five million jobs, will help bridge the housing gap.
5 Egyptian businessmen-owned companies whose shares have more than doubled in 2024
These companies illustrate the resilience and adaptability of Egyptian businesses, driven by strong leadership and strategic initiatives.
Sadek El-Sewedy gains $405 million from Elsewedy Electric despite currency devaluation
Sadek El-Sewedy’s stake could have seen a higher growth of $633.88 million if not for the 39.16 percent devaluation of the Egyptian pound.
Hassan Allam unit to build first international port terminal in Upper Egypt
The move underscores the deepening trade relationship between Egypt and the UAE.
Hisham Talaat Moustafa’s TMG stake increases by $321 million, surpasses $1 billion
Hisham Talaat Moustafa’s stake, amounting to 890,566,601 shares, has gained EGP29.46 billion ($321.54 million) in market value since the beginning of the year.
Nassef Sawiris sees $930-million wealth gain, entering global top 350 richest
Egypt’s richest man, Nassef Sawiris’ wealth is bolstered by increased cash holdings, rising by nearly $1 billion to $3.85 billion.
Ahmed Ezz’s stake in Ezz Steel nears $840 million
Ezz Steel’s scale positions it as an industry leader, surpassing competitors like Saudi Arabia’s Hadeed and Emirates Steel.
Hisham Talaat Moustafa seeks tourism reforms, targets 30 million annual visitors for Egypt
Moustafa outlined a vision to attract 30 million annual visitors to Egypt, leveraging the country’s rich cultural heritage and untapped potential.
Palm Hills revenue tops $360 million in 9M 2024
Palm Hills Developments reports robust 9M 2024 performance, surpasses revenue expectations.