amwalalghad :: Tech news

Your English Portal To Arab Economy

GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Egyptian for Tourism Resorts   0.69        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Heliopolis Housing   21.65        Raya Holding For Technology An   4.57        United Housing & Development   8.93        International Agricultural Pro   2.1        Gulf Canadian Real Estate Inve   18.08        Alexandria Pharmaceuticals   45.71        Arab Cotton Ginning   2.46        Egyptian Chemical Industries (   7.26        National Real Estate Bank for    11.84        Six of October Development & I   15.03        National Development Bank   6.72        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Palm Hills Development Company   1.61        Credit Agricole Egypt   9.04        Remco for Touristic Villages C   2.13        Commercial International Bank    29.87        El Ezz Porcelain (Gemma)   1.9        Egyptian Starch & Glucose   5.4        Arab Real Estate Investment (A   0.41        South Valley Cement   3.12        Citadel Capital - Common Share   2.5        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Sharkia National Food   3.78        Egyptian Transport (EGYTRANS)   7.85        El Kahera Housing   4.97        El Shams Housing & Urbanizatio   2.45        Egyptian Kuwaiti Holding   0.7        ARAB POLVARA SPINNING & WEAVIN   2.11        Cairo Poultry   8.32        Egyptian Financial & Industria   8        T M G Holding   4.03        Asek Company for Mining - Asco   10.66        Misr Hotels   27        Egyptian Electrical Cables   0.56        Medinet Nasr Housing   22.51        Mena Touristic & Real Estate I   1.21        ELSWEDY CABLES   18        Al Arafa Investment And Consul   0.17        Prime Holding   0.91        Alexandria Spinning & Weaving    0.74        General Company For Land Recla   16.6        Gharbia Islamic Housing Develo   8.41        Alexandria Cement   8.9        Arab Valves Company   0.94        Sidi Kerir Petrochemicals   12.4        TransOceans Tours   0.09        Egyptian for Developing Buildi   6.43        Egyptian Gulf Bank   1.24        Kafr El Zayat Pesticides   18.19        Faisal Islamic Bank of Egypt -   35.1        National company for maize pro   11.86        Delta Construction & Rebuildin   4.03        Zahraa Maadi Investment & Deve   48.25        Samad Misr -EGYFERT   3.52        Egypt for Poultry   1.41        Cairo Development and Investme   11.7        Cairo Pharmaceuticals   20.1        Maridive & oil services   0.9        Suez Canal Bank   3.75        Nile Pharmaceuticals   15.81        The Arab Dairy Products Co. AR   73.85        National Housing for Professio   14.39        El Ahli Investment and Develop   4.87        Egyptian Saudi Finance Bank   10.79        Ismailia National Food Industr   5.16        National Societe Generale Bank   25.52        Acrow Misr   19.16        Alexandria Mineral Oils Compan   63.63        Paper Middle East (Simo)   5.59        Egypt Aluminum   12.31        Giza General Contracting   13.12        Middle Egypt Flour Mills   5.82        Extracted Oils   0.6        Assiut Islamic Trading   4.56        Engineering Industries (ICON)   3.95        North Cairo Mills   15.3        Arab Pharmaceuticals   11.88        Grand Capital   5.38        El Ahram Co. For Printing And    10.68        Minapharm Pharmaceuticals   25.49        El Arabia Engineering Industri   13.52        El Nasr For Manufacturing Agri   9.71        Naeem portfolio and fund Manag   1.7        Faisal Islamic Bank of Egypt -   6.76        Natural Gas & Mining Project (   68.26        Housing & Development Bank   13.95        East Delta Flour Mills   31.5        Orascom Development Holding (A   3.22        Memphis Pharmaceuticals   11.12        Abou Kir Fertilizers   134.23        Delta Insurance   5        Cairo Investment & Real Estate   12.18        Cairo Oils & Soap   12.98        Egyptian Arabian (cmar) Securi   0.36        Egyptian Real Estate Group Bea   15.56        Alexandria Containers and good   85.51        Upper Egypt Flour Mills   45.78        Development & Engineering Cons   9.94        Sinai Cement   15.18        Medical Union Pharmaceuticals   28.01        Torah Cement   24.2        Alexandria New Medical Center   46.55        Export Development Bank of Egy   5.04        Egyptian Company for Mobile Se   92.02        Middle & West Delta Flour Mill   32.7        El Kahera El Watania Investmen   4.18        Mansourah Poultry   12.41        Delta Sugar   11.04        Misr Beni Suef Cement   41.21        Egyptian Satellites (NileSat)   6.14        Cairo Educational Services   17.75        Lecico Egypt   7.55        Sharm Dreams Co. for Tourism I   5.3        General Silos & Storage   10.77        Al Moasher for Programming and   0.66        UTOPIA   5.28        Arab Ceramics (Aracemco)   25.4        Barbary Investment Group ( BIG   0.98        


Investment - Tech news

Nayera Eid - 2014-04-29 08:27:08
The Egyptian Information and Communication Technology (ICT) Ministry signed around 45 protocols with the ministries and government entities worth EGP2 billion. The Minister Atef Helmy said the protocols aim developing the infrastructure of these institutions, along with activating programs for developing the domestic demands and serving small and medium enterprises. On the sidelines of American Commerce Chambers’ press conference, Helmy added that the Ministry will announce for fresh projects with EGP100 million during the upcoming phase. More»
Amwal al Ghad English - 2014-04-29 07:44:37
Samsung Electronics Co Ltd on Tuesday said it expected stronger earnings in the second quarter as a pickup in sales of high-end televisions and smartphones spurs growth, after it posted its second straight fall in quarterly profit. The South Korean tech giant said the football World Cup in Brazil should help boost sales of screens and smartphones in the current quarter, as fans splurge on up-market devices like ultra high-definition (UHD) TVs to watch the action. A revival of sales of upmarket TVs and smartphones is crucial for Samsung to sustain growth, as its mainstay mobile business, which generated three fourths of its first-quarter profit, reported its first smartphone market share loss in four years. But while sports-related demand should be positive, analysts say the dearth of UHD-standard content and high prices could limit the upside for sales of premium devices from the football extravaganza. "Their handset shipments guidance suggests there will be low single-digit growth for smartphone shipments for the second quarter, which I think might be below street expectations," said Maybank Kim Eng analyst Warren Lau. More»
Nayera Eid - 2014-04-28 13:58:23
The U.S.-Egypt Business Council (USEBC) will hold a meeting for discussing the investment opportunities after the Egyptian Presidential and parliamentary elections. Eng. Atef Helmy the Egyptian Information and Communication Technology (ICT) Minister asserted during his meeting with American Chamber of Commerce that ICT sector is able to allure investments. The Ministry is focusing on the regulatory, legislative frameworks and electronic signature as an important element for alluring investments, Helmy stressed. By 2020, the Egyptian economy will convert into fully digital economy, Helmy explained. Moreover, Eng. Hisham Alayli NTRA’s CEO illustrated that cyber security has an important role in alluring investments, noting NTRA is currently discussing a law for combating cyber crimes. More»
Nayera Eid - 2014-04-28 12:33:05
Eng. Atef Helmy, Egyptian Information and Communication Technology (ICT) Minister met on Monday a numbers of officials from US telecom firms operating in Egypt in order to discuss their future plans in the country. Representatives of Xerox, Microsoft, IBM and a numbers of firms operating in Egypt's ICT sector attended the meeting, in addition to the head of the Egyptian telecom watchdog Eng. Hisham Alayli - the CEO of National Telecommunication Regulatory Authority (NTRA). More»
Amwal Al Ghad English - 2014-04-28 10:57:56
Nokia Corp.'s mobile phone operation has officially been transferred to Microsoft Corp., ridding the Finnish company of a business with legendary status in the telecom industry but that has suffered a brutal fall from grace in recent years. The transaction's official closure, announced in a news release on Friday, puts an end to a long drawn process which started almost eight months ago, when Microsoft and Nokia first announced the EUR5.44 billion ($7.52 billion) deal. In its release, Nokia said there had been some purchase price adjustments relating to net working capital and cash earnings, which mean that it expects the total transaction price to be slightly higher than the earlier-announced price tag of EUR5.44 billion. At Nokia's former headquarters, a hulking glass and steel building outside Helsinki whose lease now will be taken over by Microsoft, a crane was on standby to remove the Nokia sign, under which a large blue and white banner read "On the move". Employees, who had gathered outside to take photos were nostalgic. "We've had time to prepare, but it's sad," one of them said. Nokia's former Chief Executive Stephen Elop will transfer to Microsoft where he will oversee Microsoft's hardware business ranging from mobile devices to Xbox videogame consoles, Microsoft said in a news release. Mr. Elop will be reporting to Microsoft's CEO Satya Nadella. Microsoft also said it would honor all existing Nokia customer warranties starting today. In addition to Mr. Elop, some 25,000 former Nokia employees will join Microsoft. Nokia estimated originally that some 32,000 would move when the transaction was originally announced in September 2013. However, the figure is now considerably lower because Nokia will retain the ownership of a massive 8,000 employee-strong factory in Chennai, southern India. The factory, which has the capacity to produce more than 10 million handsets in a month, has been frozen by Indian authorities due to a protracted tax dispute. Indian tax officials allege that Nokia has wrongfully claimed tax exceptions on software exports. Nokia has denied the allegations. Nokia said it has entered into a service agreement in which it will continue to produce phones for Microsoft as a contract manufacturer. The company is also offering voluntary buyout packages to Chennai workers to help them pursue new jobs outside Nokia. For Microsoft, the takeover of Nokia's phone business is a bold move to improve its odds in the mobile-phone business, where it is playing catch-up against the likes of Apple, Google and Samsung Electronics Co. For Nokia, meanwhile, unloading the unprofitable handset business leaves it with a mobile network arm that competes with the likes of Huawei Technologies Co. and Ericsson. It will also hold on to a digital mapping platform, one of the mobile industry's largest portfolios of patents and a large pile of cash. Nokia is expected to announce its new strategic direction, plans for its cash management and name its next CEO next week in conjunction with its earnings report due on Tuesday. Write to Sven Grundberg at sven.grundberg@wsj.com and Juhana Rossi at juhana.rossi@wsj.com Corrections & Amplifications This was corrected at 1623 GMT because the original misstated the wording of the large blue and white banner referred to in the article in the fourth paragraph as "Nokia moving on", when it should say "On the move". "Nokia Completes Mobile Phone Transfer to Microsoft - 2nd Update," at 1520 GMT, misstated the wording of the large blue and white banner referred to in the article in the fourth paragraph as "Nokia moving on", when it should say "On the move". More»
Amwal Al Ghad English - 2014-04-28 10:41:06
Global Telecom Holding S.A.E. (GTHE.CA)  announced on Monday that Banglalink Digital Communications Limited, its wholly owned Bangladeshi subsidiary, has priced 5-year $300 million 8.625% notes (the "Notes"). Banglalink is rated B1 by Moody's Investors Services, Inc. ("Moody's") and B+ by Standard & Poor's ("S&P"), each with a stable outlook. The Notes will be due May 2019 and are expected to be rated B1 by Moody's and B+ by S&P. Banglalink intends to use the net proceeds from the offering to repay existing indebtedness and to finance capital expenditures. This transaction marks the first ever international bond offering from Bangladesh, and the transaction received strong investor demand. The Notes will have a re-offer price of 99.008% with a yield to maturity of 8.875%. The transaction is expected to close on May 6, 2014. Citigroup is acting as the Sole Bookrunner and Lead Manager on this Rule 144A / Regulation S offering. More»
Nayera Eid - 2014-04-27 15:38:58
Egypt’s Smart Villages Co. edges towards target of preparing for an initial public offering in local bourse, said chairman and CEO Adel Danish on Sunday. In this respect, the firm has already taken the first steps by enrolling its data at the Egyptian Exchange (EGX) as a prelude to starting its IPO, he noted. Smart Villages Development and Management Company (SVC) - one of the major successful Egyptian private public partnership (PPP) – is aiming for listing some of its shares on the EGX, to go for financing its future expansion schemes. Yet, Danish stated that SVC is studying a number of financing options for its upcoming expansions such as the launch of a real estate investment fund by virtue of the recent regulations released by the market watchdog to facilitate the creation of index and real estate funds. Last March, Egypt’s market watchdog, seeking to attract capital back to the stock market, released rules to facilitate the creation of index and real estate funds as well as amendments to margin trading rules. Sherif Samy, Chairman of the Egyptian Financial Supervisory Authority (EFSA), said the changes would increase liquidity in the market and draw more local and foreign investors. Moreover, SVC’s chairman further referred to his company’s unwillingness to secure such finances from banks, citing the high interest rates on loans, notably the USD loans, which could eventually harm its expense rates. SVC has a number of plans to expand outside Egypt within the coming year, to include Tunisian and Jordanian markets.  It also intends to make more expansions to its Smart Village in New Damietta. More»
Amwal Al Ghad English - 2014-04-27 10:25:39
Egyptian mobile operator Mobinil netted losses worth EGP 163.8 million for the first quarter of 2014, a 11.6% increase year-on-year. The board of the Egyptian Company for Mobile Services – Mobinil (EMOB.CA) ratified on Sunday its financial statements for first quarter of 2014, which ended on March 13, 2014. More»
Nayera Eid - 2014-04-26 11:41:30
Global lenders  are considering investing in the new technological villages across governorates which will be reviewed by the Ministry on Supreme Commission of PPP within days, Mohamed Abdel Wahab, Executive Director of Cairo Contact Centers of Maadi Park revealed. These lenders include the International Finance Corporation, World Bank and European Investment Bank that focus on the investments which will create several job opportunities, stressing on identifying the targeted activities in each region, Abdel Wahab added. Egyptian Information and Communication Technology Ministry obtained The approval of the partnerships of private and public sectors with the finance Ministry, expecting that it will get the approval after reviewing the projects in order to permit for the private sector to build in Cairo Contact Centers of Maadi Park and develop the specified five regions by Housing and Information Technology Ministries in Assiut, El Sadat, Borg Arab, Sohag and Beni Suef. More»
Amwal al Ghad English - 2014-04-26 08:31:08
Revealed " Samsung " on the second generation of smart phones equipped with a projector to a " projector ", a smartphone launched by the name " Galaxy Pim 2" Galaxy Beam2. And reviewed the " Samsung " smart phone via its official new market-oriented China , where explained that the phone includes a screen measuring 4.66 inch touch at a resolution of 480 × 800 pixels , the same degree of clarity of images displayed by a projector built it. The phone features a mini- projector in the upper part of it , and noted " Samsung " that this device has the advantage of color correction automatically to fit the display background images and offers a low degree of transparency and high contrast . And owns the phone " Galaxy Pim 2 " as well as quad-core processor speeds of 1.2 GHz and RAM 1 GB , in addition to the internal storage memory expandable via a memory card of the type " Micro ASD ." And supported the " Samsung " her new camera background of accuracy 5 megapixel capable of recording video at FullHD, and supplied operating system "Android 4.2.2 " known simply as " jelly between ." It features a smartphone " Galaxy Pim 2 " low birth weight does not exceed 165 grams , almost the thickness of 11.6 mm , despite the fact that " Samsung " emphasized providing the structure of the metal , and battery capacity of 2600 mAh / h . Company did not disclose a specific date to launch the phone, which takes the code name SM-G3858, in the markets, however, expected to be launched by the company in the Chinese market during the next few days , where he had received the device at the approval of the Chinese Center for the adoption of communication devices in mid-March . More»