HC starts coverage of Egypt’s El Sewedy
HC Brokerage initiated El Sewedy with a "neutral" rating, and said while the company's cable profitability remains superior compared with peers, it is not entirely immune to overcapacity in the…
Egypt aims to cut poverty to 15 pct from 20 pct by 2015
Egypt's Economic Development Minister said on Wednesday the country's poverty rate could be reduced to 15 percent from 20 within five years. "I would say by 2015, we could reach…
Algeria seeks $230 mln in new back taxes from OT
Egyptian mobile firm Orascom Telecom (OT) said on Thursday its Algerian unit had received a new tax request amounting to about $230 million, a move that escalates the firm's row…
No need to renew Egypt’s cement export ban: minister
Egypt does not need to extend a ban on cement exports that expired on Wednesday, the country's trade minister said. "Today while we sit here, the ban on export of…
Karama Party leader calls for revival of Nasser’s policies
CAIRO: Founder of Al-Karama Party Hamdeen Sabahi called for the revival of socialist economic policies of the Nasserite era and the re-nationalization of privatized public properties. Delivering a passionate speech…
BlackBerry maker offers tablet aimed at businesses
NEW YORK – The company that gave us the BlackBerry - still the dominant phone in corporate circles - thinks its business customers will have room in their briefcases for…
China to launch second lunar probe this weekend
BEIJING – China's space ambitions are forging ahead with plans to launch the country's second unmanned lunar probe this weekend. The Chang'e II probe will be shot into space sometime…
Could ‘Goldilocks’ planet be just right for life?
WASHINGTON – Astronomers say they have for the first time spotted a planet beyond our own in what is sometimes called the Goldilocks zone for life: Not too hot, not…
Dubai’s Drake and Scull to buy Saudi mechanical firm
DUBAI: Dubai contractor Drake and Scull International (DSI) on Thursday said it will acquire a Saudi-based mechanical, electrical and plumbing company, adding it plans to buy another firm in the…
Major Zain shareholder says Etisalat offer “suitable”
KUWAIT: Emirates Telecommunications Corp's offer to buy the Kharafi Group's stake in Zain is "suitable and good for both parties," the head of the Kharafi Group, said in a Kuwaiti…