Asian automakers accelerate competition in Egypt
CAIRO: Major Asian automakers, including Toyota, Mitsubishi as well as Hyundai and Kia, are increasingly staking their claims over Egypt’s auto market. “Competition is getting stronger,” Kamal Khedr, an analyst…
Egypt gas deal overshadows Israel Tamar project
TEL AVIV: Subsidiaries of conglomerate Israel Corp are to buy Egyptian natural gas in a 20-year deal worth between $5 billion and $10 billion that adds to uncertainty over the…
Leading figures urge freedom for Iranian stoning woman
LONDON: More than 80 leading figures signed a letter Monday urging Iran to free Sakineh Mohammadi Ashtiani, the woman sentenced to death by stoning in a case that has attracted…
Iraq attacks target Shias, Sahwa
BAGHDAD: A bomb and suicide attack in Iraq killed six people on Monday, including four Shias and the wife and daughter of an anti-Qaeda fighter, police said. The four Shias…
Rice production withers as Egypt diverts vital water supply
KAFR EL-SHEIKH: In Kafr El-Sheikh, rice farmers once looked forward to harvest time, but work has dried up in the large Nile Delta town since water shortages prompted heavy restrictions…
EFG Hermes eyes infrastructure investment
EFG Hermes, a regional investment bank, is co-sponsoring the PPP Investment Summit Egypt, which opened this week. The summit, presented by Egypt's Ministry of Finance, focuses on new public-private partnership…
Iranian president fires FM Mottaki, says IRNA
TEHRAN: Iranian President Mahmoud Ahmadinejad has fired Foreign Minister Manouchehr Mottaki and temporarily replaced him with atomic chief Ali Akbar Salehi, the official IRNA news agency reported on Monday. It…
Egypt’s growth seen at 7 pct next year: minister
Egypt's finance minister said on Monday he expected the economy to grow by 7 percent in the financial year from July 2011, and by 8 to 8.5 percent the year…
CIB, OT lead Egypt index gains
Egypt's main index gained 0.3 percent, led by heavyweight Commercial International Bank (CIB) as banking and telecom stocks rallied, traders said. CIB jumped 1.3 percent to trade at as much…
Kuwaiti opposition MPs file to quiz premier
KUWAIT CITY: The Gulf state of Kuwait Monday appeared headed for a new political crisis after three opposition MPs filed a motion to question the prime minister in parliament over…