NSGB Q1 net profit seen down 7 percent
CAIRO: Egyptian lender National Societe Generale Bank was expected to post a 7 percent drop in first-quarter net income after a solid loan book and efficient business helped it weather…
Lafarge cuts cement demand forecast, Q1 profit falls
PARIS: The world's largest cement maker, Lafarge, lowered its forecast for global demand in 2011 on Thursday after inflation and events in Egypt led it to post slightly lower-than-expected first-quarter…
Lecico says Q1 net profit down 54 percent
CAIRO: Egyptian ceramics company Lecico's net profit tumbled 54 percent in a turbulent first quarter marked by political upheaval and an economic slump. Chief executive Gilbert Gargour said on Thursday…
Middle East growth prospects undampened by turmoil: IFC
CAIRO: Political turmoil gripping Arab states that has pushed investors to step back in apprehension has not dampened the Middle East's growth prospects, the regional head of the World Bank's…
Egypt pound seen under pressure to weaken
CAIRO: Reduced demand for Egypt's currency after three months of political upheaval has yet to be reflected in the exchange rate and this has begun to harm the economy, analysts…
Stock exchange plans road show to attract investors, market ends down
CAIRO: The Egyptian Stock Exchange will kick off a road show next week to encourage investors, making the first stop in the United Arab Emirates. Heading to several states in…
New global relationships with Africa needed: S.Africa’s Zuma
CAPE TOWN: Africa needs to develop new global ties that deepen the continent's role in the world economy, South African President Jacob Zuma told the World Economic Forum (WEF) on…
Libya’s Misrata pounded as ICC eyes crimes
TRIPOLI: Moammar Qaddafi’s forces pounded Misrata's lifeline port Wednesday, killing at least five people, as the International Criminal Court's chief prosecutor said "thousands" have died in the insurrection against the…
Nigerian hip-hop, long a copy, grows into its own
Nigeria's most talked-about hip-hop video exhibits all the excesses of its American counterparts — beautiful, scantily clad models, a mansion and a bathtub full of hundred-dollar bills. But the biggest…
Novice filmmakers open window on Iraq
As Baghdad writhed with violence in 2006, Emad Ali set out to make a film about the iconic Shabandar Cafe. But he turned the camera on himself after the teahouse…