Glass industry to see growth as demand rises
CAIRO: Egypt’s glass industry is set to see stronger gains as domestic demand rises and export opportunities are seized, said Sphinx Glass managing director Mohamed Khattab in a statement. Ahead…
EU sees solar power imported from Sahara in 5 yrs
ALGIERS: Europe will import its first solar-generated electricity from North Africa within the next five years, European Energy Commissioner Guenther Oettinger said in an interview on Sunday. The European Union…
Telecom Egypt backs dividend, still eyes mobile
Telecom Egypt will pay a LE 0.55 dividend for 2009, after earlier distributing LE 0.75, the company said on Sunday, putting on hold any immediate plans to expand in mobile.…
FIHC to build $211 mln sugar refinery: paper
Egypt's state-owned Food Industries Holding Company (FIHC) received offers from German and Japanese company's to build a LE 1.2 billion sugar refinery, a newspaper reported on Monday. FIHC said it…
Maridive to build two vessels in China
Egypt's Maridive and Oil Services said on Monday it won contracts to build two vessels in a Chinese shipyard and had cancelled two jobs in India. The oil services firm,…
Egypt's index ekes out gains
Egypt's main index gained for a fourth straight session but its rise was muted by late selling on a host of leading stocks including Orascom Telecom (OT) and Commercial International…
'Toy Story 3' finds big play time with $109 mln debut
Movie fans have not outgrown the "Toy Story 3" gang. The animated sequel about toys that come to life leaped to the No. 1 spot with a $109 million opening…
Iran to sell 2 bln euros bonds for petrochemicals
TEHRAN: Iran will issue bonds worth €2 billion ($2.48 billion) to help finance development of its petrochemical industry, the Oil Ministry website SHANA reported on Monday. "In order to finance…
Exiled Somali musicians rap against the Shebab
A group of young Somali musicians in exile is challenging the hardline Shebab Islamists who control large swathes of their homeland, by recording anti-Shebab songs set to hip-hop and rap.…
MidEast funds take big bite of AgBank IPO
HONG KONG: The Kuwait Investment Authority has invested $800 million in Agricultural Bank of China, two sources said on Monday, giving Middle East funds a big slice of AgBank's likely…