Egypt bourse sees fund trading in weeks
CAIRO: Trading of funds will begin on the Egyptian Exchange within weeks, a move that will boost investment in much-needed transport and power infrastructure, the head of the exchange said…
GB Auto may soon shop around for Hyundai replacement
CAIRO: Ghabbour (GB) Auto, one of the Middle East’s biggest automobile manufacturers, may watch its contract with Hyundai to assemble its Verna model go unrenewed. “This would be a big…
Mideast PE eyes return to SME roots
DUBAI: Private equity in the Middle East may return to its roots with small and medium-sized business investments following a regional downturn, as the sector remains cautious about its 2011…
Afghan gunmen kill 9 guards protecting NATO convoy
KABUL: Gunmen killed nine Afghan workers who were guarding a NATO supply convoy in the south of the country, police said Monday. The attack in Gereshk district happened on Sunday…
Egypt pound weakens to fresh 3-1/2 year low
The Egyptian pound traded as low as 5.7141 to the dollar, its weakest since January 2007, as foreign investors buy dollars to repatriate funds, traders said. "They are capitalizing on…
Israel’s Peres cancels Morocco visit after royal snub
JERUSALEM: Israeli President Shimon Peres has cancelled a trip to Morocco after his requests to meet King Mohammed VI were spurned, an Israeli official said on Monday. The Israeli leader…
Iraq’s Maliki visits Iran as premiership rival cries foul
TEHRAN: Iraqi Prime Minister Nuri al-Maliki visited Tehran on Monday to garner support for his premiership bid, as his chief rival Iyad Allawi accused Iran of meddling in Baghdad's political…
Djezzy has 25 days to pay reassessed taxes: paper
Bank assets of Orascom Telecom’s (OT) Djezzy will be frozen and property will be seized if the Algerian telecom operator is late on reassessed tax charges of $230 million for…
Egypt’s Citadel Capital may list two of its firms
Egypt's Citadel Capital is considering listing two of its existing portfolio companies in the next 12 to 24 months, a senior executive at the private equity firm said. "The listings…
Egypt panel advises higher TMG contract value-paper
An Egyptian legal committee advising the government on drafting a new contract for Talaat Moustafa's (TMG) flagship Madinaty project recommended valuing the land at a higher price, a newspaper said…