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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        Pioneers Holding   2.84        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        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        Egyptian Transport (EGYTRANS)   7.85        Sharkia National Food   3.78        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        Prime Holding   0.91        Al Arafa Investment And Consul   0.17        Alexandria Spinning & Weaving    0.74        Gharbia Islamic Housing Develo   8.41        General Company For Land Recla   16.6        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

Amwal Al Ghad English - 2014-05-24 07:44:08
Chief Executive Officer Meg Whitman, still struggling to turn around Hewlett-Packard Co. (HPQ), is opting for more job cuts, a move that boosted shares the most in six months. After reporting an 11th straight quarter of declining sales, Whitman is propping up profit by paring as many as 16,000 more employees, on top of 34,000 already announced. While she has stabilized Hewlett-Packard after years of management upheaval and presided over a 39 percent share climb since taking over in 2011, the company is facing its third straight drop in annual revenue. Consumers are buying fewer personal computers and printers as they embrace smartphones and tablets, and companies are opting to use more software via the Internet or building their own machines. By shedding workers, Whitman is lowering expenses, which will free up cash for investment in new businesses and enable her to report better profit. “It clearly gives them more cushion to work on the revenue growth,” said Abhey Lamba, an analyst at Mizuho Securities USA Inc., who has the equivalent of a hold rating on the stock. “It’s going to be challenging to deliver that revenue growth.” Profit excluding certain costs in the period ended April 30 was 88 cents a share and revenue fell 1 percent to $27.3 billion, the Palo Alto, California-based company said in a statement yesterday. Analysts had on average predicted profit of 88 cents and sales of $27.4 billion, according to data compiled by Bloomberg. More»
Amwal Al Ghad English - 2014-05-24 07:41:39
Egypt's Global Telecom has restated its results for last year, increasing its net loss to 20 billion Egyptian pounds ($2.81 billion) from a previously reported $924-million after booking in the costs of settling a long running dispute with Algeria over ownership of local telecoms operator Djezzy. Last month Global Telecom, previously called Orascom Telecom and 51.9 percent-owned by Russian-controlled telecoms group Vimpelcom, sold a 51 percent stake in Orascom Telecom Algeria, known as Djezzy, to the Algerian National Investment Fund for $2.6 billion in a deal which Vimpelcom said would leave it with 49 percent of Djezzy but result in a $2 billion writedown. The dispute with the Algerian government over Djezzy's ownership dated back to before Vimpelcom bought into Orascom Telecom in 2010, as part of a wider $6 billion deal to acquire Egyptian tycoon Naguib Sawiris's various telecoms interests. Global Telecom also said in a bourse statement on Thursday the net loss last year compared with a loss of 1.29 billion Egyptian pounds ($181 million) in 2012. More»
Amwal Al Ghad English - 2014-05-24 07:14:58
Four major Silicon Valley companies have formally agreed to pay $324.5 million to settle claims brought by employees who accused them of limiting competition by colluding not to poach each other's talent. The settlement, between Apple Inc, Google Inc, Intel Corp, Adobe Systems Inc and roughly 64,000 workers, was disclosed in papers filed late on Thursday with a federal court in San Jose, California. U.S. District Judge Lucy Koh has been asked to preliminarily approve the accord at a June 19 hearing, over an objection by one of the four named plaintiffs, Michael Devine, who says the settlement let the companies off too easily.The payout was originally reported by Reuters but not officially confirmed. Lawyers for the plaintiffs may seek up to 25 percent of the settlement amount in legal fees. More»
Amwal Al Ghad English - 2014-05-24 07:01:55
Hewlett-Packard Co's shares rose as much as 7 percent on Friday, a day after the personal computer maker said it would cut as many as 16,000 more jobs and forecast strong free cash flow for the year. At least four brokerages raised their price targets on the company's stock, which was one of the most traded on the New York Stock Exchange. Chief Executive Meg Whitman said on Thursday that HP's turnaround plan remained on track and the raised target on job cuts reflected how the company continued to find areas to streamline operations across its broad portfolio. The company had set a job cuts target of 27,000 when it started its restructuring in 2012, but increased it to 34,000 last year and then to 50,000 on Thursday. HP had 317,500 employees as of October 31, 2013. More»
Amwal Al Ghad English - 2014-05-24 07:00:34
Panasonic Corp said it expected to become the sole manufacturer in Tesla Motors Inc's planned multibillion-dollar U.S. battery factory, firming up its commitment to the electric car maker's project. The Japanese electronics conglomerate had until this week made only cautious comments about Tesla's plans, for which the carmaker is seeking total investment of around $3 billion in addition to the $2 billion it has pledged to contribute directly. Panasonic does not have a timeframe for a decision on its investment but any expenditure this year would be small, Yoshio Ito, senior managing executive officer and president of the Japanese firm's automotive and industrial division said on Friday. "As we're not anticipating any sudden tenfold increases in demand or anything like that, we think it is right to break it up step-by-step and invest gradually," Ito told reporters at a briefing in Osaka. Demand from the U.S. premium eco-car maker for lithium-ion batteries has been a boon for Panasonic as the Japanese firm seeks to expand its sales of industrial goods to other businesses and reduce its reliance on volatile consumer markets. More»
Amwal Al Ghad English - 2014-05-22 06:32:47
The results of voting by Egyptians overseas in the presidential election -- which took place on 15-19 May -- show that former military chief Abdel-Fattah El-Sisi is surging ahead, taking 95 percent of the 310,000 votes. “We are still waiting for the vote [in Egypt] next Monday and Tuesday, but we are hopeful; we are working really hard to secure a high turnout and a high share of this turnout, for sure,” said a source from the campaign representing the former head of the armed forces who resigned under four weeks ago to launch a presidential bid that most observers say is essentially an easy ride to the presidential palace. The competition in this year’s presidential elections -- the second since the fall of Hosni Mubarak on 11 February 2011 at the closing of his sixth mandate, for which he was 'elected' in 2005 -- is hardly a topic of speculation. While the first elections to follow the successful ouster of Mubarak and a few heads in his regime saw over 10 candidates in 2012, five of which really competed hard to make it to the run-offs, the current race is confined to two runners. This time, according to observers, officials and political activists, the result is previewed and cannot be altered – except for a miracle. More»
Amwal Al Ghad English - 2014-05-21 12:21:05
Microsoft Corp. (MSFT), struggling to break into the tablet market, backed off plans to introduce a smaller version of its Surface tablet based on Qualcomm Inc. (QCOM) processors, people with knowledge of the decision said. Microsoft Chief Executive Officer Satya Nadella and Executive Vice President Stephen Elop decided that the product in development wasn’t different enough from rivals and probably wouldn’t be a hit, said one of the people, who asked not to be identified because the plans weren’t public. Engineers had been working on the device and had planned to unveil it as early as today at an event in New York, two of the people said. Instead, the company removed any references to Surface devices based on Qualcomm’s processors from the event and unveiled Surface Pro 3, an upgraded version of its pricier Windows-based tablet, which uses chips from Intel Corp. (INTC) and features a larger 12-inch screen. Microsoft is still working on smaller versions, Panos Panay, who runs the Surface business, said in an interview after the event. Panay declined to provide details on future products. Microsoft’s Surface had just 1.3 percent share of the market in the first quarter, while smaller-size tablets accounted for 53 percent of sales in the period, according to researcher IDC. Nadella has said he wants to turn the Redmond, Washington-based company into one that focuses on “mobile first, cloud first.” More»
Nayera Eid - 2014-05-21 09:24:26
Vodafone Egypt attained EGP3.25billion operating profits (£271billion) within the fiscal year of April2013 and until March2014. Vodafone's revenues reached up around EGP13.9billion (£1.16billion) during the current fiscal year. The numbers of Vodafone's subscribers reached about EGP42million, seizing 42% from mobile phone market, ranked first as the most operator which captured numbers of subscribers. Telecom Egypt (ETAL-CA)(TE) captures 45% of Vodafone's shares. Britain's Vodafone said core earnings would fall in 2015 due to the investment needed in the business as it recorded impairments of 6.6 billion pounds ($11 billion) due to fierce competition and regulatory changes in Europe. More»
Amwal Al Ghad English - 2014-05-20 12:24:38
Britain's Vodafone said core earnings would fall in 2015 due to the investment needed in the business as it recorded impairments of 6.6 billion pounds ($11 billion) due to fierce competition and regulatory changes in Europe. The world's second-largest mobile operator has reported record falls in underlying revenue in the last 18 months, as a result of numerous European rivals, regulator-imposed price cuts and European consumers reducing the number of calls they made during the recession. On Tuesday it wrote down the value of its assets in Germany, Spain, Portugal, Czech Republic and Romania by 6.6 billion pounds and said core earnings in 2015 would fall due to vital spending on its network to boost speed and coverage. After selling its U.S. business in a $130 billion deal, Vodafone plans to invest around 19 billion pounds over the next two years, which includes the money assigned as part of its investment program called Project Spring. More»
Nayera Eid - 2014-05-20 12:09:02
Telecom Egypt (ETAL-CA)(TE) denied the increase of mobile phone operators infrastructure's rental prices. The decision of inching messaging services is mainly due to NTRA, Eng. Mohamed Al-Nawawi, TE's CEO asserted. Mobile operators spent around EGP1billion annually on renting infrastructure, noting that the revenues of telecommunication market estimated at EGP32billion annually, Nawawi added. More»