Tourists, businesses flee to Dubai to escape storm
DUBAI: Regional turmoil is creating an unexpected boom for Dubai as tourists and businessmen flock once again to the shopping and skyscraper oasis after fleeing just a few years ago…
France Telecom still bullish on Mideast, Africa
PARIS: France Telecom aims to continue its expansion in the emerging markets of Africa and the Middle East via two or three acquisitions a year, but will not bid for…
Oil rises ahead US payrolls; supply disrupted
LONDON: Oil prices rose on Friday, with Brent crude nearing $118, as investors anticipated US payrolls data later in the session will confirm the improving economic outlook of the world's…
EFG Hermes upgrades Ezz Steel to buy
CAIRO: EFG Hermes upgraded Ezz Steel Co , Egypt's largest steel maker, to "buy" from "sell" on valuation, and said it views any fall in the share price from current…
Eastern Co sees drop in 2011-12 net profit
CAIRO: Egypt's cigarette monopoly Eastern Co forecasts a drop in net profit in fiscal year 2011-12, a statement from the firm showed on Wednesday. Eastern, whose brands include Cleopatra, said…
Orascom shareholder meeting set for April 14
CAIRO: Egyptian group Orascom Telecom will hold a shareholder meeting on April 14 to approve a split of the company and a capital increase, it said on Tuesday. Financial regulator…
Palm Hills approves 1-for-10 bonus share
CAIRO: Shareholders of Palm Hills Developments, Egypt's second-biggest listed developer, approved a dividend of one new share for every 10 held, the firm said in a statement on Thursday. Palm…
North Africa and Mideast turmoil dents air travel
GENEVA: Unrest in North Africa and the Middle East dampened growth in international air travel in February, the International Air Transport Association (IATA) said on Tuesday. International passenger travel grew…
IOM pleads for funds to help evacuate Libya migrants
GENEVA: The International Organization for Migration pleaded Friday for funds to keep repatriating foreign migrants fleeing war-torn Libya, saying it could only afford just 20 evacuations a day now. "Money…
US-Yemeni cleric: Arab unrest chance for Al-Qaeda
CAIRO: A US-born radical Yemeni cleric claims in a new article that violent Islamist groups will be able to take advantage of the Arab world's wave of popular unrest, even…