Suez Cement 2010 profit falls 4.9 percent
CAIRO: Egypt's Suez Cement posted a 4.9 percent decline in 2010 net profit to LE 1.2 billion ($209.9 million), the stock exchange said on Thursday. Suez Cement posted LE 1.3…
CIB says net profit climbs 15 pct in 2010
CAIRO: Commercial International Bank (CIB), Egypt's biggest private bank, said on Wednesday that consolidated net profit for 2010 rose 15 percent. The bank said net profit for 2010 was LE…
Vimpelcom CEO hopeful on Sawiris deal, Algeria
MOSCOW: Vimpelcom sees a high chance that its deal to buy the telecoms assets of Egyptian tycoon Naguib Sawiris will go ahead despite opposition from key shareholder Telenor, its CEO…
Goldman says fears severe oil market shortages
LONDON: Goldman Sachs said on Thursday oil markets were driven by fears of unrest contagion to other producing nations after Libya and that another disruption could create severe oil shortages…
Egypt refers Palm Hills chairman to court
CAIRO: Egypt's public prosecutor referred on Thursday the chairman and chief executive of Palm Hills Development, Egypt's second-biggest listed real estate firm, to a criminal court on charges of wasting…
Lack of tourists hurts shops in famed Cairo bazaar
CAIRO: Shops catering to tourists in the Egyptian capital's famed Khan El-Khalili bazaar have been hard hit by the anti-regime protests that curbed the number of visitors. Almost anything…
EBRD could lend to Egypt: chief
LONDON: The European Bank for Reconstruction and Development said Wednesday it was ready to lend to Egypt, extending the remit it began with 20 years ago to help former communist…
Airlines set for losses as Mideast unrest hits
DUBAI: Airlines operating flights to the Middle East and North Africa could face losses this year, as tourism slumps and oil prices surge amid political uncertainty and escalating violence. Libyan…
Lecico unaudited net profit drops 14 pct in 2010, seeks bonus issue
CAIRO: Egyptian ceramics maker Lecico said its unaudited consolidated net profit dropped 14.3 percent in 2010 to LE 94.4 million, according to a statement. The figure is down from last…
Egypt bourse to stay shut until Tuesday: agency
CAIRO: Egypt's stock exchange, closed since Jan. 27 because of an uprising that toppled president Hosni Mubarak, will not open before Tuesday, Egypt's official MENA news agency quoted the bourse's…