News in brief
Bank of Alexandria supports SMEsThe Bank of Alexandria signed an agreement with the International Financial Institution - a member of the World Bank - to provide technological support for SMEs…
Oil drops to $81 as risk aversion grows, flights cut
LONDON: Oil fell to around $81 a barrel on Monday and touched a three-week low as the fraud charges filed against Goldman Sachs dampened risk appetite and European flying restrictions…
Egypt sales firm sues Mitsubishi Motors for $900 mln
TOKYO: Japan s Mitsubishi Motors Corp said on Monday an Egyptian sales firm is suing it for $900 million in damages, complaining it unfairly ended a distribution contract.Separately, the Japanese…
Second phase of PHD capital increase oversubscribed
CAIRO: Egyptian real estate developer Palm Hills Developments said in a statement that the second round of its capital increase rights issue launched earlier this month was over-subscribed more than…
Egypt index falls as Mobinil dips third day
CAIRO: Egypt's benchmark index ended 0.4 percent lower on Monday, pulled down by heavyweight telecoms operator Mobinil, which dropped 2.5 percent. It is Mobinil's third day of declines since its…
Egypt: Reducing automobile tariffs
CAIRO: The Egypt automotive industry has staged a comeback in the first months of 2010, following disappointing sales figures in 2009. This strong performance appears to dispel the worry that…
'Bodyguards and Assassins' dominates HK awards
An action thriller about a group of volunteers who protect modern China's founding father from imperial assassins dominated the Hong Kong Film Awards, winning best film and seven other awards."Bodyguards…
An evening with the slammers
Six sharp-tongued, witty spoken-word artists from both the western world and Egypt stood side by side on Thursday at the Cairo Opera House's lawn area, for one off-kilter poetry recital.…