ElBaradei ready to ‘lead the transition’ in Egypt if asked
By AFP VIENNA: Nobel peace laureate and leading dissident Mohamed ElBaradei said Thursday he was ready to “lead the transition” in Egypt if asked, as he left Vienna for Cairo…
Vimpelcom may rethink strategy if no Orascom deal
Russian group Vimpelcom will have to rethink its development strategy should its shareholders reject a $6 billion-plus purchase of Orascom Telecom, its chief executive said on Wednesday. "I don't think…
Egypt 182-day T-bill avg yield rises after protests
The average yield on Egyptian 182-day treasury bills rose about 40 basis points on Thursday, a rise that indicates some investors may be holding back from buying government securities amid…
Egypt wheat buying normal, has 6-mth supply: GASC
Egypt, the world's biggest wheat importer, has secured enough wheat supplies to last six months and is pursuing its purchases as normal, the main government wheat buyer told Reuters on…
Oil prices drop on profit-taking, Japan downgrade
LONDON: World oil prices fell on Thursday as traders took profits after a brief surge and surprise ratings downgrade for Japan, analysts said. London's Brent North Sea crude for March…
Bahrain’s Batelco still looking at Zain Saudi stake
DUBAI: Bahrain Telecommunications (Batelco) is still eyeing a stake in Zain's Saudi Arabian unit and will make an offer at the "right price", Batelco's top executive said on Thursday. Zain…
Emaar launches $500 mln sukuk at 8.5 pct, say sources
DUBAI: Emaar Properties, which built the world's tallest building, priced a $500 million Islamic bond at a profit rate of 8.5 percent, three sources said, as the first UAE sukuk…
Sharjah: On the radar
By Oxford Business Group The outlook for 2011 is one of correction and consolidation for Sharjah’s real estate sector. The market should slowly start to pick up, though recovery is…
Lebanon PM wants dialogue to solve tribunal dispute
BEIRUT: Lebanon's Hezbollah-backed prime minister designate Najib Mikati said on Wednesday he sought good relations with all countries after Washington expressed concern over the Iranian-backed Shi'ite group's role in his…
Streets flooded, power cut in Saudi city of Jeddah
JEDDAH: Torrential rainfall submerged streets and cut off electricity in parts of Saudi Arabia's second largest city Jeddah on Wednesday, raising fears of a repeat of floods in 2009 which…