Ahmed A. Namatalla

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Latest by Ahmed A. Namatalla


Capital Market Authority to launch stock market for small companies

Lack of regulation left investors vulnerable to outside-market rumors CAIRO: Capital Market Authority (CMA) Chairman Hani Sarie El-Din announced yesterday efforts are underway to establish a separate stock market for small and medium companies now being traded on the sidelines of the CASE. The new market, he says, will help regulate what is commonly referred …

Ahmed A. Namatalla

License fee transferred, contract signed for third mobile operator

Analysts expect uphill battle for new operator to gain market share CAIRO: Third mobile network consortium leader Etisalat will begin commercial operations this February, the network s newly appointed CEO Saleh El Abduli announced yesterday during the contract signing ceremony held in Alexandria. With test runs scheduled for November or December, El Abduli says the …

Ahmed A. Namatalla

Government announces public-private partnership to build schools

Public tenders for 50 schools to be held next month CAIRO: The Ministry of Finance has announced the initiation of a new public-private partnership (p.p.p.) to build 50 elementary and secondary schools in 11 governorates in an attempt to meet the president s campaign promise of introducing 3,500 new schools into the system by 2011. …

Ahmed A. Namatalla

New Consumer Protection Law in effect today

Raising awareness the first major challenge for NGOs CAIRO: More than 60 consumer protection NGOs will begin implementation of the country s first consumer protection law today. Ratified in May, the law requires businesses to accept returns and exchanges within 14 days as long as a receipt is presented, and stipulates fines from LE 5,000 …

Ahmed A. Namatalla

CASE responds to ceasefire with reserve

Index flattens after flurry of activity during conflict CAIRO: After a full week of sideways trading, Cairo & Alexandria Stock Exchange (CASE) investors were beginning to wonder if the trend meant the end of the rally experienced by the CASE 30 Index over the past month. And it all showed on Thursday when, by midday, …

Ahmed A. Namatalla

AmCham official predicts postponement of QIZ committee meeting

Possible postponement result of security issues, not political ones CAIRO: The quarter-annual meeting of the joint Egyptian-Israeli Qualified Industrial Zones (QIZ) committee, scheduled for the end of this month in Jerusalem, is likely to face postponement for security reasons related to the ongoing conflict in Lebanon, says Bassem Sultan, QIZ committee chairman at the American …

Ahmed A. Namatalla

Telecom Egypt H1 results show continued modest growth

Company must seek regional expansion, stay competitive at home to improve results, says analyst CAIRO: Telecom Egypt s (TE) subscriber base grew by 8.5 percent and net profits reached LE 1.1 billion ($191 million), up 7.3 percent, from H1 2005 results, the company announced yesterday in its first H1 2006 report since a 20 percent …

Ahmed A. Namatalla

"PC for every home" program falls short

New plan aims for 30 percent of households by 2010 CAIRO: Twelve companies have purchased the conditions statement for The Ministry of Communication and Information Technology s (MCIT) initiative to re-launch its 2002 PC for Every Home campaign. MCIT s new effort provides more affordable computers and stricter guidelines on participating companies in an effort …

Ahmed A. Namatalla

Local and regional demand behind increase in cement price

Cement expected to average LE 325-330 per ton by the end of 2006 CAIRO: A LE 25 single-day increase in cement price by The National Cement Company (NCC) last week might have angered some property developers enough to organize a public protest in front of company headquarters near Helwan, but analysts say prices should continue …

Ahmed A. Namatalla

Federation of Egyptian Industries rejects calls to boycott Israel

Opinions split on cutting trade relations, QIZ in the balance CAIRO: The Federation of Egyptian Industries (FEI) board has rejected calls to join a boycott on trade with Israel because of the ongoing conflict in Lebanon. Instead, the board has established an aid committee along with a bank account to receive donations to help affected …

Ahmed A. Namatalla

Delta Sugar expansion announced

Company to increase in net income and plans for new factory in Sharkeyya CAIRO: Delta for Sugar (DS) has announced plans to build a new 125,000-ton capacity sugar factory in Sharkeyya at a price tag of LE 750 million. The company now produces 260,000 tons per year, second to The Company for Sugar and Integrated …

Ahmed A. Namatalla

Mortgaging wave of the future

Mortgage industry numbers up, but challenges persist The mortgage industry reached LE 514 million ($89.4 million) in contracts as of June 2006, up from LE 15.8 million ($2.7 million) recorded in June 2005, Mortgage Finance Authority (MFA) Chairman Osama Saleh announced Tuesday along with Minister of Investment Mahmoud Moheiddin in a round-table discussion held for …

Ahmed A. Namatalla

Egypt to protect its quota of Nile water

Meeting to finalize the Nile Basin Initiative postponed to Sept. CAIRO: A meeting scheduled this month to bring together the ministers of water resources from each of the 10 Nile Basin countries to finalize the seven-year-old Nile Basin Initiative (NBI) has been postponed to mid-September. The postponement was agreed upon by member countries because of …

Ahmed A. Namatalla

CIB emerges as lead candidate for Bank of Alex sale

Bids are due end Sept, with final announcement planned for end Nov CAIRO: Of the six finalists announced by the Central Bank (CB) on Friday, Commercial International Bank (CIB) appears to have emerged as a leading candidate for the acquisition of the Bank of Alexandria (BoA), say local banking analysts. Bids are due for submission …

Ahmed A. Namatalla

Egypt orders Avenger system from Boeing

Deal signals health of Egyptian-U.S. relations despite recent events CAIRO: A $50-million Avenger air defense system purchase by the Egyptian military from Boeing is helping restart the company s production lines which have been inactive since 2004, according to a Boeing statement. It is also signaling that Egyptian and American core mutual interests continue to …

Ahmed A. Namatalla

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