Money News - In Brief

Mergers, Acquisitions and Financial Results

- In collaboration with Information Technology Industry Development Agency (ITIDA), ministry of Communications and Information Technology (MCIT) holds a meeting entitled "Communication for Development". The meeting will be held with more than 800 Egyptian small and medium enterprises (SMEs) working in the sector, in order to announce projects and tenders of L.E. 50 million that extend till June 2012. SMEs can get benefited from and participate in holding these projects and tenders through a number of sectors related to communications and information technology (ICT) in order to develop the domestic demand and enhance Egyptian SMEs work in the field.

- The Central Bank of Nigeria has said that fraud on Automated Teller Machines (ATM) has reduced by 98.5per cent even as it is working to reduce the cost of providing electronic payment services to the public by 30 per cent.

- Durban's public transport system is about to get a 21st century face-lift. The introduction of the city's first large-scale cashless transit tariff system, in the form of the public transport smartcard (the "Muvo card"), is set to redefine the way commuters here pay their bus fares.