Heliopolis Housing 9M net up 33 pct: bourse
Egyptian developer Heliopolis Housing increased its net profit by 33 percent in the nine months to end-March, the stock exchange said on Tuesday. The mostly state-owned firm, one of Egypt's…
Orascom Development approves cash distribution
Orascom Development Holding shareholders agreed on Tuesday to a 0.65 Swiss franc ($0.586) per share cash distribution that will reduce the nominal value of their shares, the company said. The…
Egypt's PA passes PPP law
CAIRO: After two years of preparation, the People’s Assembly (PA) ratified the public-private partnerships (PPP) law on Monday. The law seeks to enhance the role of the private sector in…
Egypt GDP growth could hit 5.3 pct in 2009/10
CAIRO: Egypt said on Wednesday its economy could grow 5.3 percent this fiscal year following last quarter's better-than-expected performance and could expand next year faster than previously forecast. Economic Development…
GB Auto Q1 net jumps on Egypt, Iraq sales
CAIRO: Egypt's GB Auto reported on Tuesday a leap in first-quarter net income, as sales extended a rebound from a slump in late 2008 and company the expanded into Iraq.…
Egypt index ends flat on global woes
CAIRO: Egypt's main index ended almost flat with traders expecting negative investor sentiment to remain as a global slump of world stocks continues. Telecom firms Mobinil and Orascom Telecom (OT)…
Lack of standardization hobbles Islamic finance
DUBAI/KUALA LUMPUR: Wrangling among scholars and wiggle room in interpretation of Sharia principles threaten to derail any attempt to arrive at global standards in Islamic finance, holding back the $1-trillion…
Hamas accuses Israel of obstructing prisoner exchange
DAMASCUS: Hamas Chief Khaled Meshaal has accused Israel of obstructing a prisoner exchange that would include an Israeli soldier held captive for nearly four years, a senior official of the…
Lebanon jails 31 over Al-Qaeda-linked plots
BEIRUT: A Lebanese military court handed 31 alleged members of the Al-Qaeda-inspired group Fatah Al-Islam prison terms of up to 15 years for terrorism, a judicial source said on Wednesday.…
Booby trapped body kills 3 in Baghdad
BAGHDAD: A Baghdad police official says three people were killed in northwest Baghdad when a booby-trapped body exploded near a grocery store. The police official says the body was left…
