Orascom Tel weighs on index after MTN talks fail
CAIRO: Index heavyweight Orascom Telecom, dragging Egypt's index down, lost 6 percent after talks on the sale of its assets to South Africa's MTN Group ended without a deal. It…
Suez Canal revenues rise in May to $395 mln
CAIRO: Egypt posted a rise in Suez Canal revenues for May, reaching $395 million compared to $342.4 million a year earlier, according to figures from the canal authority. May’s revenues…
Egypt inflation falls to 10.5 pct in May, nine-mth low
CAIRO: Egypt's annual urban inflation rate, the most closely watched price indicator, fell to 10.5 percent in May, its lowest level since August and giving the central bank more latitude…
MTN says Orascom tie-up talks collapse
JOHANNESBURG/CAIRO: South Africa's MTN Group said it ended talks with Egypt's Orascom Telecom about a potential acquisition, sinking a deal that could have created the world's third-largest mobile operator. Africa's…
Ezz Steel sees Egypt demand up, Europe weak
Egypt's top steel producer Ezz Steel said on Wednesday Egyptian demand for reinforcing steel bars would grow to 7.4 million tons in 2010 from 7.2 million last year, fuelled by…
Moody's gives APICORP A1 rating
The Arab Petroleum Investments Corporation (APICORP), a multilateral development bank, received a first-time issuer rating of A1 by Moody’s Investors Service for long-term debt and Prime-1 for short-term debt. Owned…
Juhayna public share offering fully covered
A public offering of shares in Egyptian dairy and juice maker Juhayna Food Industries has been fully covered, the firm's financial adviser EFG-Hermes said on Wednesday. The public subscription, which…
Aguilera not her usual chart-topping self, yet
Over a synth-heavy dance track, Christina Aguilera sings on her new album: "Every day I see myself I love me even more. ... Let us not forget who owns the…
Artbeat Festival kicks off
Art connoisseurs weary of the impending football World Cup mania are in for a treat this week. Along with the Streets of Cairo festival, cultural spots across Egypt is hosting…
Fans lift Carrie Underwood to 2 CMT Awards wins
The fans love Carrie Underwood and they proved it again during the CMT Music Awards. The former "American Idol" champ won Wednesday night's top honor, video of the year for…
