Citadel swings to 2010 loss on writedowns
CAIRO: Egyptian private equity firm Citadel Capital swung to a net loss last year after it wrote down the value of underperforming oil and gas assets, the company said on…
Telecom Egypt Q1 net profit dips 10 pct; shares up
CAIRO: Landline monopoly Telecom Egypt posted a 10 percent drop in first-quarter net income on Wednesday after anti-government protests hit the economy and led the authorities to suspend some telecom…
Ampal launches arbitration over Egypt gas halt
JERUSALEM: Ampal American Israel Corp has started international arbitration proceedings over the halt in gas flow from Egypt to Israel, a statement from the company said on Tuesday. Gas supplies…
EU: Pirates release ship and Syrian, Egyptian crew
NAIROBI, Kenya: The European Union Naval Force said Tuesday Somali pirates have released a ship with 22 Syrians and three Egyptians onboard. The MV Khaled Muhieddine K was seized Jan.…
Heavyweight stocks pull Egypt index lower
CAIRO: Heavyweight stocks dragged Egypt's index down 0.3 percent, but talk of a possible takeover bid for private equity company Citadel Capital lifted sentiment. "Heavyweights are pulling back a bit…
22 youth groups refuse to attend dialogue with army
By Heba Fahmy CAIRO: Twenty-two groups including the Coalition of the Youth of the Revolution and April 6 Youth Movement turned down an invitation for an open dialogue with the Supreme…
Egyptian businessman denies charges in New York sex case
NEW YORK: A businessman and former chairman of a major Egyptian bank denied charges that he sexually abused a housekeeper at a luxury New York City hotel. Mahmoud Abdel Salam…
Interior ministry to investigate alleged police abuse case
By AFP CAIRO: Egypt's interior minister has ordered an investigation into the case of a man who died following police questioning, in what some media are calling the first post-revolt…
People’s Assembly law amendments stir debate
CAIRO: Political analyst Amr Hashim Rabie said Tuesday the People’s Assembly (PA) Law 38 has been amended 14 times since first drafted in 1972, objecting to the latest draft of…
Divers pray for wings at Red Bull Cliff Diving competition
ATHENS: The crowd goes silent as Gary Hunt makes his way across a 27-meter high platform. They then let out a collective gasp as he freefalls into Lake Vouliagmeni –…