Egypt Orascom Telecom to seek $800 mln rights issue
CAIRO: Egypt-based Orascom Telecom said on Sunday it would seek shareholder approval to raise $800 million in a rights issue to strengthen its balance sheet.Orascom said the funds would be…
Developing nations slam EU climate fund pledge
COPENHAGEN: Developing nations at the UN climate conference rejected as "insignificant on Friday an EU pledge of ?7.2 billion ($10.6 billion) to help them tackle global warming.As Saturday protests in…
Eggert Muus takes the helms at Concorde El Salam
CAIRO: Eggert Muus has no worries about taking over as general manager of the Concorde El Salam Hotel in Heliopolis. Muus recently moved to Cairo from Shenzen, a city in…
Kuwait oil minister: OPEC output change unlikely
DUBAI: Kuwait's oil minister said Sunday OPEC probably won't change its production levels when it meets next week.Sheik Ahmed Al-Abdullah Al-Sabah made the comments to state news agency KUNA, which…
SODIC launches two Westown projects
CAIRO: With Forty West and The Polygon, SODIC has kicked off development of Westown, an urban center west of Cairo at the intersection of the Cairo-Alexandria and Dahshour Roads. SODIC…
Egypt to invest in infrastructure for long-term growth
CAIRO: Egypt's government is channeling most of its additional spending into infrastructure projects in a bid to combat fall-out from the global financial crisis and kick-start recovery, according to the…
Egypt's tourism revenues fall 3.1 pct on a year ago
CAIRO: Egypt's revenue from tourism for the year to November fell 3.1 percent on a year ago, but was higher than expected thanks to strong arrivals from Europe as winter…
Haneke's "White Ribbon" sweeps European Film Awards
"The White Ribbon, Austrian auteur Michael Haneke's austere black-and-white examination of malice in a pre-World War I German village dominated the 22nd European Film Awards held in Bochum, Germany on…
A modern-day Arab 'prophet'
A definitive standout at this week's European Film Panorama is Jacques Audiard's prison drama, "Un prophète, winner of this year's Grand Prix award at the Cannes Film Festival. Audiard's fifth…
Saudi's Rotana says News Corp tie-up imminent
RIYADH: Global media giant News Corp is close to buying 10 percent of Saudi tycoon Prince Alwaleed bin Talal's Rotana entertainment group, a senior company official has said.Rotana Media Services…