The Egyptian traders reported Egyptian stocks inched higher on Sunday led by gains in the textile sector after the market shrugged off any potential effects of a thwarted labor strike in the Nile Delta
The chairman of the Egyptian Arafa Holding AIVC.CA, Mr. Alaa Arafa reported that the firm is seeking to spend at least $300 million to buy men clothing brands in Italy or Germany this year to raise the profile of the company
The Egyptian stock exchange reported that Egyptian Orascom Hotels and Development ORHD.CA posted a 124 percent rise in 2007 net profit before minority interest to 478.5 million Egyptian pounds ($87.8 million) on Sunday