Egypt's Orascom Development posts $17.5 H1 net loss

Egypt's Orascom Development made a 13.7 million Swiss francs ($17.5 million) net loss in the first half of the current year compared to a profit of 50.9m a year earlier, Reuters has reported. The revenues of Swiss-listed Orascom, known mostly for building luxury resorts, tumbled 62% to 107m francs.