Oil spill sympathies
When BP's CEO Tony Hayward took a beating before Congress last week I felt sorry for him. Hour after hour he sat there, looking miserable as congressmen lined up to…
Egypt down on low volumes, telcos weigh
CAIRO: Egypt's benchmark index erased earlier gains to end in the negative, as telecoms weighed on the market and pessimistic global sentiment added to the sell trend. Mobinil shed 2.7…
Ministry of Solidarity to launch electronic ration cards
CAIRO: The Ministry of Social Solidarity will begin distributing electronic ration cards next week to families with monthly incomes below LE 1,000 and people receiving pensions under LE 750. Sources…
Alex Cement says rights issue nearly covered
CAIRO: Egypt's Alexandria Cement said on Tuesday it had almost covered a LE 2.45 billion ($442.2 million) rights issue and expects to sell the remaining shares once the regulator gives…
Egypt's fuel subsidies seen up to $13 bln-oil min
CAIRO: Egypt's oil minister expects its fuel subsidies bill to swell to LE 72 billion ($13 billion) in fiscal 2010/11, from LE 68 billion in 2009/10, and said on…
Ismaili to punish Salem for rejecting Zamalek
CAIRO: Ismaili have decided to act against Moatassem Salem's desire to join Ahly by claiming the defender will stay in Ismailia until the end of his contract. Salem's future has…
Egypt settles public companies' bank debts
CAIRO: The Egyptian government’s plan to settle public companies’ debt to the banking system will be completed by the end of the fiscal year, the investment minister said earlier this…
National Bank of Egypt to underwrite PPP financing
The National Bank of Egypt (NBE) will be the principal coordinator and underwriter in financing loans under the PPP program, after it signed an agreement with the finance ministry, reported…
Egypt may add Poland, Romania to its list of wheat providers
Egypt, the world’s biggest wheat importer, may add Romania and Poland to its list of approved providers as it seeks greater competition and lower prices for the grain, reported…
Dana key well disappoints, makes two oil finds
British oil and gas exploration and production company Dana Petroleum said the Bamboo well off the coast of Egypt did not find oil, sending its shares down, although it made…