Six tunnels discovered in Sinai while Egypt maintains Rafah crossing opening
CAIRO: Egyptian authorities discovered six additional tunnels linking Rafah and Gaza near the Salahuldin gate on the border between Sinai and the Gaza Strip Monday evening. Security forces seized the…
Trade push reshaping Islamic finance’s regional rivalry
MANAMA/KUALA LUMPUR: Arshad Khan, the chief of the Bahrain Financial Exchange, had envisaged a global Islamic trading platform when he set out to work with Malaysia's stock exchange this year.…
AAIB says responsible financing is key
Over the past two years, there’s been a lot of lost trust in financial institutions in the wake of global economic turmoil, which gave rise to new banking regulations, financial…
Abraaj Capital’s Riyada fund eyes Egyptian SMEs
“Small and medium enterprises (SMEs) are a key pillar of modern economies,” said Walid Bakr, director and executive committee member of Riyada Enterprise Development (RED). While SMEs contribute about 25…
Remains of settlement found in El-Kharga Oasis
CAIRO: Remains of an ancient settlement were discovered in the Um El-Mawagir area of the El-Kharga Oasis, the Supreme Council of Antiquities said Wednesday. Minister of Culture Farouk Hosni confirmed…
Demystifying Basel II and bank risk management
We have all heard about — and probably even been impacted by — the economic crisis and the bank failures around the world that caused it. Many of us have…
NBAD plans 22 new branches in Egypt in near-term
National Bank of Abu Dhabi, the second largest bank in the United Arab Emirates, said on Wednesday it plans to open around 22 branches in Egypt in the short-term as…
At least 52 dead as car bombs target Iraq police, say officials
BAGHDAD: More than a dozen apparently coordinated car bombs targeting Iraqi police and other attacks killed 52 people on Wednesday, just days before the US military officially ends its combat…
‘Mammoth’, ‘Life, Above All’ strike a family chord
Other things may change us, but we start and end with family.” Anthony Brandt Two films at the recently concluded Durban International Film Festival epitomized this statement by Brandt. “Mammoth”…
Reggae festival leaves Italy for Spain over immigration row
Abandoning Italy because of what they say are racist government immigration policies, the Italian organizers of a major reggae festival have sought refuge in Spain for this year's edition. Rototom…