CAIRO / EMIRATES BUSINESS Egypt’s real estate developer SODIC signed sales contracts worth 4.4 billion Egyptian pounds (US$ 495.5million) during the financial year ended in December 2015, according to a source. SODIC , or Sixth of October Development and Investment Company revenues for the period reached 1.47 billion Egyptian pounds, while its net profit registered 321.331 million Egyptian pounds from ...

Bloomberg When Ethiopian farmer Mulugeta Mezemir ceded his land three years ago to property developers on the fringes of the expanding capital, Addis Ababa, he felt he had no choice. A gated community with white picket fences and mock Roman pillars built by Country Club Developers now occupies the fields he tilled in Legetafo, Oromia region, after the 60-year-old said ...

Bloomberg Casino Guichard-Perrachon was cut to junk by Standard and Poor’s, increasing the French grocer’s debt costs as short seller Carson Block attacks its accounting. The long-term debt rating was lowered by one step to BB+, the highest non-investment grade, Standard & Poor’s said in a statement on Monday. The outlook is stable. S&P had said it may lower it ...