Sewedy Cables Q2 net jumps on higher sales
CAIRO: Egypt's El Sewedy Cables reported a 53 percent jump in second-quarter net profit on Monday after it took business from rivals weakened by the global economic slowdown. Sewedy, the…
Rights groups condemn treatment of imprisoned political activist
CAIRO: A group of six human rights organizations has condemned the imprisonment and treatment of a political activist arrested in May during a demonstration. Ahmed Abou Douma was convicted on…
Egypt’s OCI wins contract for Red Sea power plant
CAIRO: Egypt's Orascom Construction Industries (OCI) said on Monday it had won a $60 million contract for offshore works of an oil and gas power plant with its 50-percent owned…
Orascom Development to invest 100 mln stg in eco town, says paper
CAIRO: Egyptian-owned Orascom Development is preparing to inject £100 million ($156 million) into its environmentally friendly "eco-town" project in southwest England, a newspaper quoted its chairman as saying. The project,…
‘Arab and Peace’ is not an oxymoron
Earlier this summer I was in Jerusalem meeting with various officials and catching up with old friends. Minutes after meeting a friend, a former high-up official in Israel's Foreign Ministry,…
The security trap
CHICAGO: Even as the world becomes more integrated, the word “security” crops up again and again, as in “food security” or “energy security.” Typically, this means a country creating and…
A Saudi school system that once led the way in the Gulf
ABU Dhabi: What do US Secretary of State Hillary Clinton’s closest adviser, Qatar’s princesses and I have in common? One would think, almost nothing. But as young girls, we were…
INTERVIEW: Muwa’adah valid for forward forex contracts, says scholar
KUALA LUMPUR: Muwa'adah is a permissible basis for forward currency transactions, a respected sharia adviser said on Monday, challenging a widely held view which has limited the range of Islamic…
Global M&A involving sovereign wealth funds pick up in Q2
LONDON: Global corporate mergers and acquisitions activity involving sovereign wealth funds rose to more than $12 billion in the second quarter with 33 deals completed, Thomson Reuters data showed on…