Egypt’s biggest Islamic loan, signed yesterday by Al Nouran Sugar, is adding to evidence borrowers are turning to Shariah-compliant funding in a country that ousted its Islamist government less than a year ago.
Dana Gas PJSC, a United Arab Emirates energy company, said its annual production rate for 2010 from its Nile Delta Concessions in Egypt is estimated at 42,000 barrels of oil equivalent per day, an increase of 20 percent on 2009. The company made the announcement in a statement to the Abu Dhabi bourse today.
An explosive device blew up alongside a public bus near a university campus in Cairo, wounding at least five people and underscoring concerns that a spate of attacks blamed on Islamists was moving to the capital.
Dana Gas PJSC , a fuel producer with most of its output coming from Egypt, said production levels were sustained during the weeks of protest in Egypt and after the toppling of former President Hosni Mubarak .