Sukuk lose shine for traditional Gulf issuers
DUBAI: The lure of Islamic bonds appears to be wearing off for conventional borrowers in the Gulf, even as the global industry grows, with high-profile defaults and rising costs souring…
EFIC establishes LE 500 mln fertilizer plant in Ain Sokhna
In a statement on the stock exchange website, the Egyptian Financial and Industrial Company (EFIC) said that it gained all required licenses to establish a new plant in Ain Sokhna…
New investment zone in Banha to create 10,000 jobs
Minister of Invesment Mahmoud Mohieldin and Banha Governor Adly Hussein laid the foundation of stone of a new investment zone in the governorate. The new zone will be set for…
World Bank offers $3.2 bln to finance 18 development projects
The current portfolio of cooperation between Egypt and the World Bank comprises 18 development projects, financed through loans at a total $3.209 billion, in addition to 10 grants worth $66.200…
Bayt.com creates Mideast online salary calculator
CAIRO: Job site Bayt.com has introduced an online salary calculator for job seekers in the Middle East. With 4.5 million registered job seekers and about 30,000 employers, Bayt.com CEO M.…
Egypt’s central bank holds rates steady as growth quickens
CAIRO: The Central Bank of Egypt (CBE) left its key overnight interest rates on hold on Thursday a day after the government announced that economic growth had accelerated to an…
Saudi king in Syria amid regional tensions
DAMASCUS: Syria on Thursday warned the United States to stop trying to interfere as Arab leaders try to defuse heightened tensions in the Middle East. Saudi King Abdullah, who arrived…
Interpol probes Nigerian senator’s child marriage
ABUJA: Interpol is investigating an accusation of unlawful child marriage by a Nigerian senator to a 13-year-old Egyptian girl, a state human rights body said Thursday. "The Interpol has contacted…
Egyptian border guards kill African migrant
RAFAH: Egyptian border guards fatally shot an African migrant as he tried to cross the border into Israel, an Egyptian official said Thursday. He said the 28-year-old Eritrean man died…
Desperate clubs travel seeking African victories
JOHANNESBURG: An air of desperation hangs over four clubs this weekend though they will be playing only their second match in the 2010 African Champions League group phase. Former title…