Growing Islamic finance should diversify, regulate: analysts
KUWAIT CITY: Islamic finance, which prohibits charging interest, is set to double in size in five years, but the one-trillion-dollar industry must diversify and regulate to realize its full potential,…
Kuwait’s exports to Egypt $46.2 mln: official
Kuwaiti exports to Egypt stand at $46.2 million annually, most of which are oil derivatives, said the head of the Egyptian trade representation office on Monday. The volume of trade…
SODIC expects income boost: report
Egyptian developer Six of October Development and Investment Co. expects to earn LE 4 billion ($700 million) in the next three years as it completes projects and diversifies, a senior…
Egypt’s balance of trade moves into surplus
Egypt's balance of payments swung into surplus in the year to end-June from a deficit a year earlier, the central bank said on Monday. The surplus for 2009/10 was $3.36…
Egypt’s current account deficit narrows
Egypt's current account deficit narrowed to $4.3 billion in the year to end-June from $4.42 billion year earlier, the central bank said on Monday. Direct investment into Egypt slid to…
ICLD to resume sit-in for unfulfilled gov’t pay promises
CAIRO: Information Centers for Local Development (ICLD) workers are threatening to resume sit-ins after the Eid holiday following the government’s failure to uphold pay promises. ICLD worker Abdel-Meneim Sharaf Eddin…
Egypt buys 57,200 tons of rice from local market
Egypt's General Authority for Supply Commodities (GASC) said on Sunday it had bought 57,200 tons of rice from the local market through a tender. Nomani Nomani, vice chairman of GASC,…
Mobinil considers $180 million bond issue
Mobinil, Egypt's top mobile firm by subscribers, is considering issuing bonds with a value of LE 1 billion ($180 million), its chief executive said on Monday. Asked whether Mobinil…
Zamalek’s Yasser denies going AWOL
CAIRO: Zamalek forward Hussein Yasser denied skipping training without permission, but still hopes for an improved contract from the Cairo club. The Qatar forward, who is currently on international duty,…
Technical staff made mistakes: Egypt assistant
CAIRO: Egypt assistant coach Shawki Gharib conceded the Pharaohs' technical staff made some mistakes in the 1-1 home draw with Sierra Leone in the first round of the 2012 Africa…