Word: algerias
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Moroccan prisoners of war, captured during the 30-year conflict over Western Sahara, sent home from Algeria last week...
...tourism and travel company. Naguib seems to have inherited his father's golden touch. Over the past six years, Cairo-based Orascom Telecom Holding has grown into an increasingly profitable company with more than $2 billion in annual revenue and 14.5 million subscribers in Muslim countries, including Algeria, Egypt and Tunisia...
...failed Middle East peace summit at Camp David: "I went away from that meeting and told my father: 'This man is not going to sign anything at the summit.'" But Arafat did approve a sizable investment in Orascom. The Palestinians partnered with Orascom in Algeria and Tunisia; when the firm ran into trouble, they exchanged some of its debt for equity. In all, the Palestinians invested about $200 million in Orascom - at one point, the official Palestine Investment Fund owned 9% of the company and had a seat on the board. It has since reduced its stake by two-thirds...
...Since getting back on its feet, Orascom has jettisoned its activities in some markets, including Chad and Ivory Coast, and concentrated its efforts on a handful of key nations. Top of the list is Algeria, where it has over 70% of the market. But the firm also has 5 million customers in Pakistan. Last year, the company generated over $1 billion in earnings before interest, dividends and amortization - more than double the total for 2003. Sawiris still sees plenty of opportunity to grow his business in the Middle East, but these days his appetite seems bigger. The Wind deal involves...
...critical mass that would enable him to get better terms from equipment suppliers and others. ? The Wind deal has yet to be finalized, and could still fall apart. Responding to critics of the deal, Sawiris points to his record of success in unlikely places: "When I went into Algeria and Pakistan, people thought I was crazy. They still think I'm crazy because I'm in Iraq." ? Sawiris has a big appetite for fun as well as for risk. He and his glamorous wife, Ghada, are fixtures on Cairo's social scene, and in the 1990s he opened some...