Egypt's Orascom to get $2.5 bn loan from Russia's Vimpelcom May 3, 2012 - 21:02 AMT PanARMENIAN.Net - Egypt's Orascom Telecom said on Thursday, May 3 it would receive a $2.5 billion loan from its majority shareholder, Russia's Vimpelcom so it can develop networks in Bangladesh and other markets. "We are receiving a credit facility worth $2.5 billion from Vimpelcom for five years at an interest rate of 12.5 percent," Chief Executive Ahmed Abou Doma said in a conference in Cairo. "We need the loan to get liquidity to develop our networks, especially in Bangladesh." Abou Doma said the firm had a shortage of liquidity that was mainly caused by its inability to repatriate profits from lucrative Algerian unit Djezzy, which has been in a long-running dispute with the government there, Reuters reported.   Top stories Azerbaijani authorities report that they have already resettled 3,000 people in the Nagorno-Karabakh town of Stepanakert. On June 10, Azerbaijani President of Azerbaijan Ilham Aliyev will leave for Turkey on a working visit. Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive.   Partner news |  Latest news Viva sees growing demand for cloud services  In recent years, medical institutions are starting to make use of Viva’s cloud servicesArmenian, German presidents meet in Berlin Armenian and German Presidents Vahagn Khachaturyan and Frank-Walter Steinmeier met in Berlin.Armenia assumes presidency of Mediterranean Network of Regulatory Authorities The Commission on Television and Radio of Armenia said it expects productive cooperation in various formats.Balance of attached cards in the Idram&IDBank app From now on, users will be able to view the online balances of cards issued by ArCa system banks and attached to the app. |
