Obama calls for peaceful response in Middle East
WASHINGTON: Warily watching protests ripple across the Middle East, President Barack Obama said Tuesday that governments in the vital, volatile region are figuring out that they "can't maintain power through…
Military eager for Egypt to return to work
By Marwa Awad and Shaimaa Fayed / Reuters CAIRO: The military hoped tens of thousands of Egyptians would heed its appeal to get back to work on Wednesday and abandon…
Sinai awaits future in trepidation but appears more unified
By Abdel-Rahman Hussein and Heba Fahmy CAIRO: Sinai was always a hotspot during the reign of the previous regime, but as the post-Mubarak era starts there appears to be a…
Orascom says no Vimpelcom merger if vote delayed
CAIRO: The parent company of Egypt's Orascom Telecom (OT) will call off a $6 billion-plus deal with Vimpelcom if Vimpelcom shareholder Telenor blocks a vote on the tie-up next month,…
Kenya tea prices up on higher Egypt demand
NAIROBI: Strong demand from Egypt lifted Kenyan tea prices at this week's auction after relative calm returned to the country following the resignation of president Hosni Mubarak, brokers said on…
NSGB says 2010 net income up 3.5 pct
CAIRO: Egypt's National Societe Generale Bank (NSGB) said its net income for 2010 rose 3.5 percent to LE 1.34 billion ($227.9 million). The bank said it expected to be initially…
Oil rises as Middle East protests spread
LONDON: Oil prices rose on Wednesday as overnight rioting in Libya added to concerns that an Egypt-style revolt could spread to oil-producing countries in the Middle East. The latest outbreak…
CIB says transfers abroad well below estimates
CAIRO: Egypt's Commercial International Bank (CIB) said on Tuesday the amount of money its clients transferred abroad because of political unrest was only 25 percent of what it had been…
Egypt gas supply to Israel to resume in Feb: Ampal
TEL AVIV: Egyptian gas supplies to East Mediterranean Gas Co (EMG) and its Israeli clients were expected to resume later this month following delays in pipeline repair work, Ampal-American Israel…
Egypt ups deficit forecast to above 8 pct/GDP
CAIRO: The political unrest that rocked Egypt over the last month will cut tax revenue and has prompted the government to raise the 2010/11 budget deficit forecast by as much…