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SODIC says 2014 net profit 154.3mn Egyptian pounds CAIRO: SODIC, Egypt's third-largest listed property developer, said it made a net profit of 154.3 million Egyptian pounds ($20.2 million) in 2014 after a loss of 477.1 million pounds the previous year.SODIC, also known as Sixth of October Development and Investment Co., said in a statement on Thursday it had revenues of 1.37 billion pounds in 2014, up from 1.32 billion a year earlier.Copyright Reuters, 2015


Delhaize profit above expectations as Belgian margins recover BRUSSELS: Belgian supermarket operator Delhaize on Thursday reported better-than-expected operating results in the fourth quarter, as its margins in Belgium improved from the previous quarter in spite of hefty sales declines.In Belgium, margins rose to 1.9 percent in the fourth quarter from 1.4 percent in the third, falling sharply compared to the 3.9 percent last year.In the United States, where the group operates the Food Lion and Hannaford supermarkets, margins were stable from the third ...

Ambani loses India rich list top spot to pharma tycoon MUMBAI: A fall in oil prices saw Mukesh Ambani cede his status as "India's richest man" on Thursday to pharmaceutical tycoon Dilip Shanghvi, who edged to the top of Forbes' list of billionaires in the country.The "real time" list of the richest Indians on the business magazine's website showed Shanghvi with a net worth of $22 billion, and Ambani, who chairs the giant Reliance Industries group, behind with $20.4 billion.The switch comes just three days ...

BAWAG PSK sees strong 2015 after profit jump VIENNA: Austrian lender BAWAG PSK forecast more growth this year after net profit swelled 45 percent to 333 million euros ($367.4 million) in 2014, driven by its retail and small business segments and cost cuts."We expect another strong year in 2015, projecting a net profit of over 400 million euros with all key metrics improving," Chief Executive Byron Haynes said in a statement.BAWAG, owned by US investor Cerberus Capital Management, easily passed health checks of ...

UK healthcare firm Bupa sees strong growth in India LONDON: British private healthcare group Bupa is eager to expand quickly in India's fast-growing health insurance market, once a rule change on foreign investment is implemented, the firm's chief executive said on Thursday.Bupa, which operates globally and gets 70 percent of its revenue from health insurance, said in January it planned to raise its stake to a new maximum of 49 percent in its joint venture with Max India, from the current maximum for a ...

Citigroup's past losses may have helped it win Costco business NEW YORK: Citigroup Inc had at least one advantage in its successful bid for the exclusive right to issue credit cards for Costco Wholesale Corp, rivals and tax specialists say: it lost so much money during the financial crisis that it has billions of dollars of tax credits.Citigroup and Costco have not disclosed terms of the deal, and outsiders can only speculate about the reasons Citigroup bid aggressively enough to win the business.But officials at ...

RTL Group Q4 earnings beat estimates, helped by German operations FRANKFURT: European broadcaster RTL Group reported higher-than-expected fourth-quarter earnings, helped by growing advertising revenue in its most important market Germany.The broadcaster, which is majority-owned by German media conglomerate Bertelsmann, said on Thursday its fourth-quarter earnings before interest, tax and amortisation (EBITA) reached 466 million euros ($514 million).The maker of hit talent shows such as "Jungle Camp" and "Big Brother" said fourth-quarter group revenue grew 2.8 percent to 1.862 billion euros.Analysts polled by Reuters had forecast ...


 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyDecember
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $16.137 bln