South Sudan independence 'major problem', says AU chief
OUAGADOUGOU: African Union (AU) chief Jean Ping voiced concern Tuesday about south Sudan voting for independence in a referendum due in January, saying it would be a "major problem" for…
Infant Islamic funds industry stagnating: E&Y
MANAMA: The number of Islamic fund liquidations is expected to rise unless the nascent industry can develop the scale needed to tap into a large enough pool of Muslim wealth…
Increased sales tax on products to be expedited
The Ministry of Finance is planning to present to the People’s Assembly next week a law implementing the increase in the sales tax on cement, iron and cigarettes, to be…
Deputy Cairo governor handed five-year suspended sentence for Duweiqa disaster
CAIRO: Manshiyet Nasser Misdemeanors Court on Wednesday handed deputy Cairo governor a five-year suspended sentence for the involuntary manslaughter and injury of the Duweiqa residents. Mahmoud Yassin was also ordered…
Asec Ready Mix begins operations
Cement producer Asec Cement launched operations at Asec Ready Mix, a LE 43 million which will have points of presence in Upper Egyptian cities of Minya, Assiut and Qena, according…
Lecico to distribute 1:2 bonus share
Sanitary ware and ceramics maker Lecico Egypt will distribute a dividend of one bonus share for every two owned, it said in a statement published on Wednesday in Al-Mal. The…
Algeria says won't allow Orascom unit sale to MTN
Algeria's government will not allow Egyptian operator Orascom Telecom to sell its Algerian mobile phone business Djezzy to South African group MTN, Algeria's trade minister said. "The Algerian state holds…
Salem firm on Ismaili exit despite fans' pressure
CAIRO: Ismaili defender Moatassem Salem insists on leaving the club at the end of the season, despite pressure from the fans urging him to stay. Salem announced his desire to…
Egypt stock index rebounds, Talaat Moustafa leads
A return to risk appetite helped push Egypt's main index up 4.4 percent on Wednesday from a 25-week low, with most stocks on the index recovering some of their losses.…
Sirens wail across Israel in huge defense drill
JERUSALEM: Air raid sirens wailed across Israel on Wednesday at the peak of a five-day civil defense exercise to test the Jewish state's defenses in the event of war, the…
