IMF says regional tension adds to Egypt’s fiscal burden
The International Monetary Fund has indicated that the increasing political tensions in the region are likely to cause added pressure to Egypt’s fiscal burden as the government increases spending on…
Amer Group to begin selling Syrian units
Egyptian property developer Amer Group will begin selling units at its Porto Tartous tourist project in Syria this week, it said on Monday. Amer Group, which sells property on Egypt's…
Orascom to do $141 mln of work for Emaar Egypt unit
Orascom Construction Industries, Egypt's biggest listed builder, said on Monday it agreed to do LE 800 million ($141 million) worth of work for Dubai-based developer Emaar Properties. The work will…
North Korea’s Kim meets Egypt’s Sawiris
By Kelly Olsen/AP SEOUL: North Korea's leader Kim Jong Il held talks with an Egyptian telecoms magnate whose company set up and operates an advanced mobile phone network in the…
Mobinil eyes margin boost as subscriber growth slows
CAIRO: Egyptian mobile operator Mobinil is to employ new mobile services this year to help boost its profit margins despite an increasingly crowded market, its chief executive said. Mobinil, which…
Widening trade deficit may stifle Egypt’s growth
CAIRO: Egypt’s trade deficit widened 42.6 percent in the year to October 2010 compared to the previous year, according to figures released by the state statistics agency CAPMAS. The deficit…
Egypt draws up incentives to boost local auto production
CAIRO: Egypt is currently working on a proposed incentive program to boost local car production. The Industrial Development Authority presented an incentive program to the Ministry of Finance that would…
Labor Party says interior ministry procrastinating in releasing its leader
By Marwa Al-A'asar CAIRO: The Ministry of Interior has procrastinated in implementing an Administrative Court order granting parole to Labor Party Leader Magdy Hussein, said acting Labor Party Secretary General…
Court refuses to change Qandil’s trial jurisdiction
By Marwa Al-A'asar CAIRO: The head of the South Giza Court rejected Monday the request of former TV host and columnist Hamdy Qandil’s defense team to transfer jurisdiction of his…
Egypt asks Berlin to return Nefertiti bust
CAIRO: Egypt is officially requesting the return of the 3,300-year-old bust of Queen Nefertiti that has been in a Berlin museum for decades. The bust of the monarch, dating back…