Egyptian billionaire Onsi Sawiris, founder of Orascom business empire, dies at 91
Onsi Sawiris, Egyptian business icon turned philanthropist and the patriarch of Egypt's wealthiest family, died on…
Browsing Tag
Onsi Sawiris
Sawiris Foundation donates 100 million pounds to Egypt’s coronavirus battle
Sawiris Foundation, an Egyptian charity linked to business tycoons Naguib, Samih, and Nassef Sawiris, has donated…
Sawiris, Kanoo, IFC ink deal to acquire shares of AXA Investment Egypt
The Egyptian branch of the French company AXA Investment signed Monday a preliminary agreement with two companies…
Sawiris conglomerate: From small Upper Egypt business to world’s billionaires lists
A father and his three sons have made their way to being listed among the ten richest men in both Egypt and Africa.…
Sawiris Family holds 52% of Orascom Construction
Sawiris family, one of Egypt’s two wealthiest families, hold 52.01% of Orascom Construction Limited’s issue…
Nile Sugar’s Shares Active on Bourse Database on October 26 – EGX
Egyptian stock Exchange (EGX)’s Listing Committee approved on Thursday the listing of Nile Sugar, a private…
Egypt Stocks Gain EGP6.9bn in Week Propelled by Suez Canal Project
In a week, Egypt's stocks gained 6.9 billion Egyptian pounds powered by the new Suez canal national project.…
Egypt Bourse Approves Sawiris-led Nile Sugar’s IPO – Official
Egyptian stock exchange (EGX) approved the listing of Nile Sugar Company, a private beet-based sugar mill owned by…
Sawiris’ Nile Sugar Files Official Bid to List in Egypt Bourse
An official listing request has been filed by Nile Sugar, owned by Egyptian business tycoons, the Sawiris family,…
Egypt Ranks Second in World’s Richest Arabs List: Forbes Middle East
Egypt has landed in second place in the World’s Richest Arabs list made by Forbes Middle East, contributing 15…
Sawiris Family Plans to Inject EGP4 bln Investments in Egypt Early 2014
Egypt Investment Billionaire Naguib Sawiris is expecting that the Egyptian market will witness an influx of foreign…
Sawiris Family Finally Back Home As Tax Disputes Settled
Members of Sawiris family have arrived at Cairo International Airport on Friday coming from France, after a travel…
Egypt Lifts Travel Ban On Onsi, Nassef Sawiris Amid Tax Accord
The travel ban on Egyptian business tycoons Onsi Sawiris and his son Nassef – Chief Executives of Orascom…
Egypt Bourse Struggles Under Heavy Hand Of Government
Egyptian fund manager Mohamed Ayad watched his clients lose money for months until he himself became a victim of…
Orascom Construction Denies Settlement With Egyptian Govt
Statements by Egypt's Finance Minister El-Morsi Hegazy and the Egyptian Tax Authority over negotiations with the…
OCI Tax Debacle in Egypt Stokes Concern Over Who Might Be Next
Egypt’s decision to go after its biggest publicly traded company on a tax-evasion claim is deterring investors that…
EGX Suspends Trading On OCI, Awaits Tax Negotiations Updates
The Egyptian Exchange’s management has decided to suspend the trading on the stocks of Orascom Construction…
Business In Egypt; Feeling The Squeeze
The decision by Egypt’s general prosecutor to place the country’s wealthiest man and his business-tycoon father on…
EGX30 Falls 2.95 % In Week As OCI Tax Dispute Weighs
The Port Said court ruling proceeded by bloody riots, massive blaze and police strike alongside the pending tax…
Orascom Buyout Battle Scars Egypt Stock Mkt
A regulatory battle over an offer to buy out shareholders in Orascom Construction Industries (OCIC.CA) may inflict…
EGX 30 Sinks Again 2.25% In Week Driven By Political Instability
In a week, the Egyptian Exchange has incurred losses of EGP 6.9 billion driven by the country’s unstable political…
EGX 30 Ends This Week 1.95% Up Powered By Dispute End Optimisms
The Egyptian Exchange (EGX) has ended this week posting gains of EGP 4.27 billion backed by foreign buyers amid the…
Billionaire Sawiris Says Climate In Egypt Deters Investors
Egyptian billionaire Naguib Sawiris said a “police environment” in Egypt discourages investors, and vowed to return…
EGX 30 Ends Above 5260 Pts, EFG-Hermes Climbs 0.97% Amid CEO’s Remarks
The Egyptian Exchange (EGX) has pared its midday gains to eventually reach EGP 993 million during Wednesday’s…
OCI To Discuss Alleged Tax Claim With Egyptian Tax Authority By March 10
OCI N.V.’s subsidiary, Orascom Construction Industries (OCI) (OCIC.CA), announced today that it has received…
OCI Workers Stage Sit-In Against Arbitrary Actions Towards The Sawiris
Workers at Orascom Construction Industries (OCI.CA) have staged a sit-in on Wednesday morning outside the company’s…
Sawiris Travel Ban Further Drags EGX 30 Down Below 5245Pts; Closing
The Egyptian Exchange (EGX) has ended Tuesday’s session incurring substantial losses of EGP 5.2 billion driven by…
Egypt Sets Limits On Share Transfers Of Local Stocks
Egypt has set limits on the amount of shares local companies can transfer into internationally-traded global…
EGX 30 Falls Below 5260Pts Amid Sawiris Travel Ban Repercussions; Midday
The Egyptian Exchange has incurred midday losses of EGP 4.9 billion on Tuesday driven by foreign selling pressures…
The Sawiris Travel Ban; Latest Blow To Business Confidence in Egypt
Egypt's bourse suffered its biggest one-day loss in three months on Monday after the chief executive of its largest…
EGX 30 Dives 2.30%, Ends Monday Below 5380 Pts
The Egyptian Exchange (EGX) has ended Monday’s session incurring substantial losses of EGP 7.18 billion driven by…
Sarie Eldin Says ‘Surprised’ By OCI Officials’ Travel Ban As Talks Still Ongoing
Dr. Hani Sarie Eldin - the legal counsel for Orascom Construction Industries (OCIC.CA), said he was “surprised” by…
EGX 30 Opens Below 5455 Pts, OCI Falls 1.61% Amid CEO’s Travel Ban
The Egyptian Exchange has opened Monday’s session incurring losses of EGP 2.3 billion driven by foreign sellers.…
Egypt’s Prosecutor-General Issues Travel Ban For The Sawiris
The measure against the two business tycoons, Onsi and Nassef Sawiris, is part of the prosecution's investigation…
Orascom Construction Says Didn’t Get New Tax Claim Amid CEO Ban
Orascom Construction Industries, (OCIC) the company transferring its stock listing to Amsterdam from Cairo, said it…
Egypt’s Tax Authority: Either OCI Pays Tax Dues Or Considered Evasive
Egypt’s Tax Authority will be holding a meeting Sunday with Orascom Construction Industries – OCI (OCIC.CA) so as…
OCI In Talks To Pay EGP 1.2 Bln Tax Dues: Sources
Sources near from Orascom Construction Industries – OCI (OCIC.CA) said the firm is planning not to pay the Tax…
OCI Says Still Seeking Agreement With Tax Authority
Omar Derwaza - Head of Investor Relations at Orascom Construction Industries - said OCI is still in holds…
EGX 30 Dives 2.24%, Ends At 5449 Pts
During Sunday closing session, the Egyptian Exchange (EGX) posted losses of EGP 7.8 billion as the capital market…
Tax Authority Starts OCI’s EGP 14 Bln Tax Fraud Investigations
Senior sources from Egypt’s Finance Ministry told Amwal Al Ghad that the Head of Tax Authority has met on Sunday…