OPEC oil output falls to lowest since Nov 2009
LONDON: OPEC crude oil supply fell in August to the lowest since November 2009 as reduced supplies from Nigeria, the United Arab Emirates and Iraq offset increased output in Angola,…
Mediation: The cost-efficient alternative in dispute resolution
CAIRO: The International Finance Corporation (IFC) launched Tuesday its Alternative Dispute Resolution Program in Egypt, which promotes mediation as a tool to improve the country’s investment climate. Fatma Ibrahim, associate…
Arab League notes pessimism in region about Mideast talks
CAIRO: Arab League chief Amr Mousa said on Wednesday that there was widespread pessimism in the region about new peace talks between Israel and the Palestinians, Egypt's state MENA news…
Sawiris to build Swiss resort to compete with Verbier
The Egyptian billionaire Samih Sawiris’s Orascom Development Holding AG with a penchant for risk is transforming a sleepy Swiss village into a ritzy resort that may one day rival Verbier,…
Raya to distribute shares
Technology firm Raya Holding will distribute bonus shares in the ratio of 1:0.09 on September 15 for shareholders as of September 14. This will increase the company’s paid up capital…
Heliopolis Housing proposes cash dividend
Egyptian real estate firm Heliopolis Housing has proposed a cash dividend of LE 1.30 ($0.228) per share. The firm, which made net profit for the year to end-June of LE…
Vimpelcom closer to Wind, Orascom stake buy: paper
Russian telecoms group Vimpelcom Ltd's board has provisionally approved the purchase of Italian mobile operator Wind and a stake in Egyptian group Orascom Telecom, Vedomosti reported on Wednesday. The business…
Suez Canal August revenue up 7.3 pct from July
Revenue from Egypt's Suez Canal rose 7.3 percent to $436 million in August, the chairman of the Suez Canal Authority said in a statement on Wednesday, Reuters reported. Revenue in…
Algeria drops Orascom Tel ads from state TV: source
ALGIERS: Algeria has dropped Orascom Telecom's adverts from all of the country's terrestrial television stations, a source with direct knowledge of the situation said, the latest move in a long-running…
Obama opens long-shot talks on Mideast peace
WASHINGTON: President Barack Obama is opening a new round of Mideast peacemaking, bringing Israeli and Palestinian leaders together for talks aimed at forging agreement within one year on a two-state…
