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…
Abraaj in talks to buy stake in Citadel : source
CAIRO: Dubai-based Abraaj Capital has held talks with Egypt's Citadel Capital with a view to possibly buying a stake in the rival private equity firm, a source familiar with the…
ICT minister highlights sector’s potential to US delegation
CAIRO: A delegation of US business executives in Egypt comprises 24 of the largest companies in the US, including GE, Coke, Apache, Exxon, PepsiCO and Boeing, said Hisham Fehmy, the…