Drilling platforms not guilty of oil spill, says ministry
CAIRO: Waste dumping and residual oil stains on rocks caused the recent oil spill on the Red Sea coast of Hurghada, according to online news portal masrawy.com. The committee assigned…
Between principle and peril
It is perhaps somberly appropriate to address the issue of Israeli settlements one week after a state investigation committee made its final report on the failed resettlement of the Jewish…
Rhetoric and fishermen belay the myth of GCC unity
Early in May a Qatari naval vessel shot at Bahraini fishing boats which entered Qatari territorial waters. One fisherman was seriously injured and over one hundred were arrested. This occurred…
Turkey's rise and the decline of Pan-Arabism
TEL AVIV: The deadly fiasco of the Turkish-led “peace flotilla” to Gaza highlighted the deepening strain in the Israeli-Turkish alliance. But it mainly helped expose the deeper, underlying reasons for…
Gomaa Market no more
CAIRO: The scenario is all too familiar: A fire breaks out killing three, or a mountain collapses into an avalanche of deadly boulders killing 300; rescue efforts are slow…
Hundreds protest against torture in Alexandria
By Mohamed Effat CAIRO: Amid heavy security presence, some 1,000 protestors and political figures took part in a protest against torture and police brutality in Alexandria on Friday. The protest began…
Advanced Pharmaceutical Packaging launches 30 pct IPO
CAIRO: Egypt's Advanced Pharmaceutical Packaging is raising 21 million Egyptian pounds ($3.8 million) in an initial public offering of 30 percent of its shares to boost capacity in its glass…
EFG takes over Jordanian brokerage firm
CAIRO: EFG-Hermes announced Thursday that it had agreed to buy a Jordanian brokerage firm, Tadawol for Securities and Financial Services, for JD 3.85 million ($ 5.4 million). According to Reuters,…
Zayat Stables, bank reach financial agreement
LOUISVILLE, Kentucky: Prominent thoroughbred owner Ahmed Zayat has reached a global settlement with Fifth Third Bank that will ensure the bank is repaid the $34 million in loans it claims…
Oil falls with equities; Caribbean storm brews
SINGAPORE: Oil slipped on Friday, heading for a weekly drop of 1.2 percent, as falling Asian equity markets tempered an early boost from indications that the first storm of the…