Russian telecoms group Vimpelcom Ltd's board has provisionally approved the purchase of Italian mobile operator Wind and a stake in Egyptian group Orascom Telecom (ORTE.CA), Vedomosti reported.

Talaat Mostafa Group TMG (TMGH.CA) announced that it had fully acquired Four Seasons Cairo Nile Plaza Hotel on August 25. The developer’s subsidiary Arab Co. for Hotels & Tourism Investment (ICON) bought the 43.7% minority stake owned by Kingdom Hotel Investments (KHI), a unit of Saudi Kingdom Holding, for US$145 million.

Egypt's finance ministry will offer ten-year bonds worth LE1 billion (US$175 million) in an auction on Sept. 6, the central bank said.

Algeria should announce within two months what it will pay for Orascom Telecom's (ORTE.CA) Djezzy unit, a source said on Tuesday, a step that may open the way for Orascom's owner to merge with Vimpelcom.

Egyptian real estate firm Heliopolis Housing (HELI.CA) has proposed a cash dividend of LE1.30 per share. Record and distribution dates are yet to be announced.

Acrow Misr (ACRO.CA) reported its 1H FY10 financial results showing a net profit of LE14.4 million compared to LE10.8 million in the comparable period last year.

CAPMAS stated that Egypt's producer price index rose to 10.36% in the 12 months to July.