Malaysia's Proton says studying Egypt car assembly

(Reuters) - Malaysian state carmaker Proton Holdings is studying plans to assemble cars in Egypt to help expand export sales, managing director Syed Zainal Abidin Syed Mohamed Tahir said on Monday.

"So from Egypt -- we plan to use that as a base to enter the African continent and the Middle East," he said.


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Egyptian indexes decline as Orascom Telecom dips

(Reuters) - Egyptian stock indexes dipped on Sunday following declines in global markets and amid continued caution over an offer by big cap Orascom Telecom to buy Raya, brokers said.

Orascom Telecom lost 0.8 percent to end at 77.50 Egyptian pounds, while shares in fellow market heavyweight Orascom Construction Industries dipped 0.6 percent to 398.90 pounds.


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Egyptian bourse inches down on profit-taking

(Reuters) - Egyptian shares edged down on Tuesday, with profit-taking based on technical factors dominating the session after the main indexes hit record highs last week, traders said.

"It's a continuation of the last two days where we saw a bout of profit-taking mainly driven by retail investors," one trader from the Trust Group for Securities said.


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Blue chips boost Egyptian indexes to new highs

(Reuters) - Egyptian blue-chip shares climbed on Monday, driving two major indexes to record closing highs for a second consecutive day as investors moved back to market-leading shares, traders said.

"Speculators left the market and money was re-channelled in to companies like Orascom Construction Industries, Orascom Telecom and EFG Hermes," said Hossam Abdelrahman of Optima Securities.


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Egypt indexes hit lifetime closing highs

(Reuters) - Shares in OCI rose 2.9 percent to 415.50 Egyptian pounds , while overall the CASE30 index rose 1 percent to close 8,246.21 points, breaking a previous closing high of 8,220.07 set in February 2006.




The benchmark Hermes index also hit a fresh closing high of 73,151.40 points after rising 0.7 percent. But the broader CIBC index dipped 0.1 percent to close at 344.32 points as profit-taking hit some housing and real estate shares.


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Sawiris Might Sell Wind's Italian Telephone-Tower Unit for $2 Billion

(Bloomberg) -- Egyptian billionaire Naguib Sawiris
may sell the Italian telephone towers held by his Wind
Telecomunicazioni SpA wireless business to help cut debt, said
three people with knowledge of his plans.

Sawiris's Weather Investments Srl contacted investment banks
and may name an adviser on the potential sale soon, said the
people, who asked not to be identified because the talks are
confidential. The towers are valued at 1 billion to 1.5 billion
euros ($2 billion) at a minimum, one of the people said.


Read more at Bloomberg Exclusive News