Algeria rejects new Orascom tax claim: govt official
Egypt's Orascom Telecom on Thursday confirmed that Algerian tax authorities had rejected an appeal filed by its Algerian unit Djezzy. The firm, the Arab world's largest mobile operator by subscribers,…
Beltone downplays Algeria investment bank talks
Beltone has downplayed its plans to expand into Algeria, saying it was in preliminary discussions and does not have a year-end deadline. Al-Mal newspaper had quoted director Aly…
Egyptian bank HDB 2009 net profit more than doubles
Housing and Development Bank, which is raising LE 930 million ($169 million) to finish housing projects and expand its retail operations, reported net profit more than doubled in 2009. HDB…
Ezz Steel hikes April prices by 25 pct
Egypt's largest steelmaker Ezz Steel has raised its steel prices 25 percent to recoup soaring raw material costs, it said on Thursday. The firm set its April prices at LE…
Al Borg to buy 51 pct of medical lab
Al Borg Laboratories has agreed to buy a 51 percent stake in Medical Genetics Centre, the country's biggest genetics testing laboratory, it said in a statement on Thursday. Al Borg,…
Swedish pension giant bans investment in Israeli defence company
Sweden's largest pension funds have elected to remove Israeli defence electronics company Elbit Systems from its investment portfolios over its involvement in the construction and operation of the Israeli separation…
Kuwait court jails journalist critical of prime minister
KUWAIT CITY: A court on Thursday sentenced a leading Kuwaiti journalist to six months in jail and a $17,500 fine for allegedly slandering the prime minister, pending an appeal. The…
US wiretapping of Islamic charity deemed illegal
SAN FRANCISCO: A US federal judge Wednesday deemed "unlawful" the 2004 electronic surveillance of an Islamic foundation that the Bush administration suspected was supporting terrorism. US District Court Judge Vaughn…
Iraqi health official gunned down at home
BAGHDAD: A senior Iraqi official was killed at his home and a woman and her daughter were discovered dead, likely tortured, in separate incidents in Baghdad, an interior ministry official…
Uganda gov't says it will compensate rebel victims
KAMPALA: A Ugandan presidential adviser says that more than 5,000 people whose lips and ears were cut off by rebels will receive compensation. Richard Todwong told The Associated Press on…
