April 6’s future in question on its third anniversary
CAIRO: For the first time since 2008, the April 6 Youth Movement commemorated its anniversary without holding demonstrations or running away from the police, Ahmed Maher, the movement’s general coordinator…
Faisal Islamic Bank 2010 profit doubles
CAIRO: Faisal Islamic Bank of Egypt's stand-alone 2010 net profit more than doubled to LE 338 million ($57 million), it said in a statement in Al-Ahram newspaper on Thursday. The…
Orascom Construction to be hurt by Egypt unrest: UBS
CAIRO: Orascom Construction Industries faces potential delays in project tendering in the immediate future due to the recent unrest in Egypt, UBS said, and cut its price target on the…
Centamin sees 2011 output at lower end of guidance
LONDON: Centamin Egypt said it expects full-year production to come in at the lower end of its 250,000-290,000 ounce guidance after output in the first quarter was hit by supply…
Palm Hills denies report that land sale cancelled
CAIRO: Beleaguered Egyptian property developer Palm Hills denied a newspaper report that the government cancelled a sale of land to the company, saying it still held the plot on Cairo's…
Discussions on media and cultural dialogue follow Arab-West Relations forum
CAIRO: Following the opening of the forum “A New Era for Arab-West Relations” at the Arab League headquarters Wednesday, discussions kicked off with an Anna Lindh report which denied the…
Egypt unrest leads to plunge in Feb tourism revenue
CAIRO: Egypt's tourism revenue fell by more than half in February as political turmoil frightened tourists away and prompted countries to warn their citizens against visiting the country, the government…
T. Rowe Price bullish on Egyptian stocks
CAIRO: An investigation into Ezz Steel's chairman over links to ousted Egyptian President Hosni Mubarak poses little threat of nationalization, said T. Rowe Price's Middle East fund manager, who is…
Egypt eyes Gulf investments to face expected drop in FDI
CAIRO: Foreign direct investment (FDI) inflows to Egypt are expected to drop by over 40 percent this fiscal year, according to Chairman of Egypt’s General Authority for Investment (GAFI) Osama…
Arab revolts lesson to African states: Tanzania minister
DAR ES SALAAM: The political upheaval in Libya and other Arab states should be a lesson to African countries that time has run out for dictatorial regimes, a Tanzanian deputy…