Arafa eyes doubling profit on steady sales
CAIRO: Arafa Holding, Egypt's biggest garment exporter, hopes to keep sales in 2010/2011 at last year's levels of $332 million while doubling profits to $20 million on improved margins in…
Ezz Steel says no notice yet on Algeria deal
Ezz Steel has not received any formal notification from the Algerian authorities regarding its $750 million Algeria project, it said in a statement to Egypt's stock exchange on Sunday. Algerian…
Etisalat says not in talks to buy Djezzy
Emirates Telecommunications Corp (Etisalat) has not bid for the Algerian unit of Orascom Telecom, a spokesman for the UAE telecoms provider said on Sunday. "We did not discuss with Orascom…
Government to start liberalization of butane gas
The Ministry of Social Solidarity will commence distribution of butane gas canisters through the ration card system in the governorate of Menufiya in fiscal year 2010/11, Al-Shorouk reported. According to…
OT says would prefer to stay in Algeria
Orascom Telecom would prefer to stay in Algeria, but has been obliged to enter talks to sell its unit Djezzy to the government, Executive Chairman Naguib Sawiris said on Monday.…
UNICEF, IDSC launch crisis management strategy
CAIRO: Under the motto “Prevention is better than the cure,” UNICEF and the Cabinet’s Information and Decision Support Center (IDSC) jointly launched the National Communication Strategy for Raising Societal Awareness…
OT extends gains after Sunday surge
Egypt's main index closed 0.5 percent higher, its fourth session of gains, buoyed by Orascom Telecom which was up on continued speculation over an imminent close to its deal to…
Al-Arish, 31 years later
CAIRO: Originally a Roman garrison town named Rhinocolorum ("Noses Cut Off") after the fate of dissidents exiled there, Al-Arish, the capital city of the North Sinai governorate, historically has experienced…
Director quits 'Hobbit' film over production delay
Hollywood director Guillermo del Toro said Monday that production delays have forced him to quit the planned film version of J.R.R. Tolkien's "The Hobbit," a two-part prequel to New Zealand…
Fans gather to remember Ronnie James Dio
The mammoth service for fiery frontman Ronnie James Dio was more akin to a spirited rock concert than a dreary funeral. With chants of "Dio, Dio, Dio," headbangers were loud…