Maridive 2010 net profit falls 23 percent
CAIRO: Egypt's Maridive and Oil Services, the biggest oil services firm by fleet size in the Middle East, said its 2010 net profit fell 23 percent to $61.8 million. The…
Global central banks point to more acute price risks
BASEL: A spike in food and oil prices has made the threat of inflation more acute, leading central banks said on Monday, but they warned tightening of policy in response…
Veteran diplomat is new face of Egypt
By AFP CAIRO: Egypt’s newly appointed foreign minister Nabil El-Araby is a respected veteran diplomat who joined the Camp David negotiations that yielded a peace deal with Israel. El-Araby was…
Dollar on backfoot; jobs data fails to impress
SYDNEY: The dollar struggled against a basket of major currencies early in Asia on Monday after failing to get a boost from data showing a rebound in US jobs, while…
Middle East, North Africa bourses lost $140 bln amid unrest
ABU DHABI Mar: Stock markets in Middle East and North Africa lost $140 billion in market capitalization during the last five weeks as political unrest sweeping through the region left…
Nearly 3 pct of global gas supply at risk: Goldman
LONDON: Nearly 3 percent of global gas supply could be at risk of disruption in North Africa and the Middle East, according to investment bank Goldman Sachs. About 10 billion…
Climate change, biofuels threaten food security: FAO
MILAN/ROME: Climate change bringing floods and drought, growing biofuel demand and national policies to protect domestic markets could drive up global food prices and threaten long-term food security, the United…
Suez Canal workers threaten hunger strike in Egypt
CAIRO: Several hundred administrative workers with Egypt's Suez Canal Authority are threatening to go on a hunger strike if their demands for promotions are not met. The workers were protesting…
Slight decrease in unemployment will likely be reversed: analysts
CAIRO: Egypt’s unemployment rate reached 8.92 percent during the second quarter of the current fiscal year, down slightly from 8.94 percent the previous quarter, official figures show. According to the…
Egypt charges ex-minister, puts travel ban on another
By Sameh Fahmy CAIRO: Egypt's public prosecutor charged the former tourism minister with corruption and barred the ex oil minister from traveling abroad pending an investigation into financial violations, state…