Bank Audi Egypt launches new CODs
CAIRO: Bank Audi S.A.E. launched new Certificates of Deposit with an interest rate up to 10.3 percent, the bank said in a statement, aiming to encourage investments. “Bank Audi’s CODs…
IFC plans $35 mln in loans for Indian-Egyptian JV factory
CAIRO: The International Finance Corporation, a member of the World Bank Group, said it will provide up to $35 million in loans toward construction of a new chemical factory near…
Citadel Capital says no direct offers for acquisition
CAIRO: Private equity firm Citadel Capital said it “has not received a direct offer of acquisition from any party,” according to a statement, a day after reports indicated it was…
Egypt urban inflation eases to 11.8 pct y/y in May
CAIRO: Urban consumer inflation in Egypt unexpectedly eased to 11.87 percent in the 12 months to May as food prices fell from April, the state statistics agency said on its…
Egypt’s market up on cancellation of capital gains tax
CAIRO: Officials at Egypt’s stock exchange welcomed Finance Minister Samir Radwan’s decision to cancel a proposed capital gains tax, and the benchmark index responded by rising 1.3 percent on Thursday.…
Qaeda deputy vows ‘jihad’ in bin Laden eulogy
CAIRO: Osama bin Laden's deputy warned Wednesday that America faces not individual terrorists or groups but an international community of Muslims that seek to destroy it and its allies. He…
ElBaradei calls for drafting bill of rights
CAIRO: In an online video published Wednesday night, presidential hopeful and former head of the International Atomic Energy Agency Mohamed ElBaradei called for drafting a bill outlining basic human rights…
African leaders to launch ‘Cape-to-Cairo’ trade bloc talks
JOHANNESBURG: African leaders meet Sunday for talks on forming the continent's biggest free-trade bloc, aimed at unlocking a multi-billion dollar market and boosting the region's role in the global economy.…
Return to Tahrir to pressure for constitution first possible, says party head
By Tamim Elyan CAIRO: National political currents have the right to boycott elections and return to Tahrir to pressure the Supreme Council of the Armed Forces (SCAF) to draft a new…
Suez Canal May revenues up at $436.6 mln
CAIRO: Revenue from Egypt's Suez Canal rose 10.5 percent year-on-year to $436.6 million in May, and rose 0.5 percent from a month earlier, a government portal showed on Wednesday. Revenue…