Egypt incensed by Iranian FM ‘traitor’ remarks
CAIRO: Egypt has reacted strongly to remarks allegedly made by Iranian Foreign Minister Manouchehr Mottaki regarding his description of participants in the direct peace talks between the Palestinian Authority and…
Group promotes Egypt’s spy chief for president
CAIRO: A group of activists have hung up posters around Egypt's capital supporting the country's intelligence chief as a possible candidate in next year's presidential elections. Launched Thursday, the campaign…
Zidan to return to Dortmund this weekend
CAIRO: Mohamed Zidan is set to return to Borussia Dortmund this weekend after clearing up confusion over his military status, the German club said. The Egyptian striker was nursing a…
Facebook campaign launched against power cuts
CAIRO: Egyptians disgruntled with the continuous and excessive power cuts, took their frustration to Facebook, starting a campaign satirically titled “You are Radiant, Government – No to Power Cuts in…
Appeals court to give verdict in alleged police torture case Sept. 22
CAIRO: The Sixth of October Appeals Court will announce on Sept. 22 the verdict in a case of alleged torture by three police officers. The case of Shady Maged Saad…
Ezz Steel raises prices for September
CAIRO: Ezz Steel, Egypt’s largest steel producer, said it will raise its ex-factory price for steel by LE 350, bringing it up to LE 3,950 for September, according to local…
Sawiris offers €140 million to buy Roma: report
CAIRO: Egyptian businessman Naguib Sawiris has offered €140 million to buy Italian club AS Roma, daily Il Sole 24 reported on Wednesday. The Italian business newspaper said that Sawiris, the…
Vimpelcom in talks with Sawiris, Q2 misses forecast
MOSCOW: The head of Vimpelcom confirmed on Thursday that Russia's third-biggest mobile phone operator is talking to Egyptian tycoon Naguib Sawiris about a possible purchase of his Italian and Egyptian…
Citigroup cuts Egypt’s OCI to sell
Citigroup downgraded Egypt's Orascom Construction Industries (OCI) to "sell" from "hold," saying ongoing fierce competition across the Middle East and North African region's construction market would lead to margin erosion…
HSBC upgrades Egypt’s Olympic Group
HSBC upgraded Olympic Group to "overweight" from "neutral," citing an attractive valuation, and said the Egyptian appliance maker's capacity expansion plans are on track. Capacity expansions related to Olympic's agreement…