Jordan's Cairo-Amman Bank Q1 profits rise 35.6 pct
Cairo-Amman Bank's first quarter net profits rose by 35.6 percent to 7 million dinars ($9.8 million) mainly boosted by strong retail business and prime corporate lending, its chairman said on…
Egypt bourse suspends Orascom Tel trade pending news
The Egyptian stock exchange has suspended trade on Orascom Telecom pending the firm's planned Tuesday announcement of material information, three traders told Reuters on Monday. The Cairo-based firm told the…
Lawyer calls for release of Sinai blogger Mosad Abu Fagr
CAIRO: Lawyer Amir Salem filed a complaint to the Prosecutor General Abdel Meguid Mahmoud Monday, to call for the release of Sinai activist and blogger Mosad Abu Fagr. Abu Fagr…
Consumer confidence down in Egypt, says report
CAIRO: Consumer confidence in Egypt fell by 0.7 index points in the first quarter of 2010, according to Bayt.com and YouGov Siraj’s recently released Consumer Confidence Index (CCI) survey. Consumer…
Rights group condemns gov't restriction on Al-Jazeera
CAIRO: An Egyptian NGO has condemned restrictions placed on Al-Jazeera news channel by the government. The Arab Network for Human Rights Information (ANHRI) said in a statement issued Sunday that…
Shell says Middle East needs to solve "gas puzzle"
KUWAIT: The Middle East needs to solve the conundrum which leaves it sitting on 40 percent of the world's gas reserves and yet suffering from a supply shortage, a senior…
New diplomats' village at Emaar's Mivida
CAIRO: Emaar Misr, the wholly owned subsidiary of UAE-based Emaar Properties, unveiled a residential village for Egypt’s diplomatic community in its Mivida development, according to a statement. Located in New…
Syria gives EFG-Hermes investment banking licenses
CAIRO: Syria has given investment banking licenses to a Syrian unit that EFG-Hermes is setting up, the Cairo-based investment bank said on Monday. The licenses are for advisory and corporate…
Al-Bashir declared winner in landmark Sudan polls
KHARTOUM: Sudanese President Omar Al-Bashir was on Monday declared winner of the country's first multi-party presidential election in over two decades. "The winner in the election of the president of…
Gulf Islamic banks eye conversion of conventional peers
MANAMA/DUBAI: More banks in the Gulf Arab region may convert to Islamic finance in a bid to tap rising demand for sharia-compliant products and to avoid the heavy investment required…