Latest news with #NorthAfrica
Zawya
22 minutes ago
- Business
- Zawya
Egypt sets $56mln for power expansion
Egypt has boosted investment in power expansion projects by nearly 20 percent to around 2.8 billion Egyptian pounds ($55 million) during the 2025-2026 fiscal year. The Electricity and Renewable Energy Ministry has allocated the funds for the state-owned South Cairo Electricity Distribution Company (SCEDC). The investments are nearly 20 percent higher than those approved during the 2024-2025 fiscal year and are intended to develop and upgrade networks managed by SCEDC in the capital and other parts of Egypt, the Arabic language daily Addustour said, quoting a Ministry source. 'The projects will be funded through the Company's own resources and they are part of expansion plans to be executed by the Ministry during the coming fiscal year,' it said. The paper noted that SCEDC is one of Egypt's largest public power distribution companies, covering nearly 15 percent of the country's area. Its subscribers increased by nearly 295,000 to reach 6.7 million at the end of 2024. (1 US Dollar = 50.67 Egyptian Pounds) (Writing by Nadim Kawach; Editing by Anoop Menon) (
Zawya
22 minutes ago
- Business
- Zawya
Egyptians for Investment approves capital increase
Cairo - The Egyptians for Investment and Urban Development Company's board agreed, on 18 June, to increase the issued and paid-up capital to EGP 165 million from EGP 150 million. The EGX-listed firm will distribute 15 million bonus shares to 150 million shareholders, reflecting a ratio of one bonus share for every ten shares held, according to a bourse statement. The transaction will be funded from retained earnings of EGP 17.53 million, with EGP 749,865 allocated as a 5% legal reserve, leaving EGP 16.78 million available for distribution. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Times
3 hours ago
- Entertainment
- Times
Red Path review — a severed head, football and an awkward romance
There's a lot going on in this grim Tunisian drama and I'm not sure that all of it works. It was inspired by a horrifying real-life incident from 2015 when Islamic State psychopaths beheaded a teenage shepherd on a remote part of Mount Mghila and then forced his cousin to carry the severed head back to his village as a gruesome warning sign. • Read more film reviews, guides about what to watch and interviews In the powerful opening scenes here, the shepherd Nizar (Yassine Samouni) and his cousin Achraf (Ali Helali) are pictured traversing the Tunisian landscape, climbing Mount Mghila and savouring the soulful beauty around them. 'Millions of years ago this place belonged to the fish,' Nizar says after cooling off in a mountain pool. The director, Lotfi Achour, then cuts to dramatic widescreen shots of undulating sedimentary rock, as if to provide comment on geological time and human impermanence. At this point Isis attack, Achraf is beaten unconscious and Nizar is beheaded off-camera. Then follows a mighty jump-scare, when Achraf awakes to see his decapitated cousin on the ground bedside him. And after that it gets strange. Achraf carries the head around in a sports bag, initially unable to reveal the truth to Nizar's loving family. He plays football with the locals, hiding the head in a tree, and it begins to feel like the Raymond Carver short story So Much Water So Close to Home, in which the friends go fishing despite discovering a dead body. There is an awkward romantic element too, as Achraf inconceivably starts crushing on Nizar's former girlfriend. Once Achraf comes clean and delivers the head, there's a wildly absurd scene in which Nizar's father has to remove a shelf from the family freezer to fit his son's skull inside. And then Nizar's ghost appears to Achraf to partake in vaguely philosophical conversations. None of this quite coheres as a single storytelling vision, however — all that remains is the horror.★★☆☆☆ 15, 101min In cinemas from Jun 20 Times+ members can enjoy two-for-one cinema tickets at Everyman each Wednesday. Visit to find out more. Which films have you enjoyed at the cinema recently? Let us know in the comments and follow @timesculture to read the latest reviews
Arab News
13 hours ago
- Sport
- Arab News
Soccer fans storm field in Libya and a Portuguese referee is injured during a suspended match
TRIPOLI: A highly-anticipated derby in Libya's top soccer league was suspended after fans stormed the pitch and officials said Thursday the Portuguese referee and some fans were injured. For the latest updates, follow us @ArabNewsSport The match Wednesday between Al-Ahly Tripoli and Al-Ittihad was suspended in the 39th minute when Al-Ahli substitutes and fans stormed the pitch in protest of Al-Ittihad players' celebration of their opening goal. Al-Ittihad's bus was set on fire, the club said in a statement. Players and soccer officials fled the stadium amid a fan disturbance outside the facility. Footage circuited online showed clashes between fans and security forces in and around the stadium. Al-Ahly blamed what they called a 'provocative act' by one of Al-Ittihad players for the disturbance. They said in a statement that security forces used 'excessive force and live fire' against fans at the club's headquarters. Local media reported that Portuguese referee Fábio José Costa was injured.
Zawya
14 hours ago
- Business
- Zawya
Egypt: Contact's consolidated profits jump 305.4%YoY in Q1 2025
Contact Financial Holding recorded 305.408% higher consolidated net profits attributable to the owners at EGP 58.406 million in the first quarter (Q1) of 2025, according to the financial results. The quarterly profits were compared with EGP 14.406 million in Q1 2024. Earnings per share (EPS) increased to EGP 0.05 at the end of March 2025 from EGP 0.01 a year earlier. Meanwhile, net interest income jumped to EGP 269.484 million from EGP 239.178 million. As for the standalone business, the company's net losses hiked to EGP 12.174 million in Q1 2025 from EGP 3.858 million in Q1 2024. Loss per share declined to EGP 0.010 in the first three months of 2025 from EGP 0.003 in the year-ago period. Contact Financial Holding management commented: 'Contact's strong first-quarter results reflect the impact of our strategic pivot toward higher-margin products and the resilience of our business model, supported by gradually improving economic conditions.' 'The group's net income surged by an impressive 306% YoY increase, coupled with the exceptional performance from our insurance division, which recorded a 767% increase in net income to reach EGP 43mn.' © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
