US to return ambassador to Syria amid détente, says report
WASHINGTON: President Barack Obama is to return a US ambassador to Syria after a four-year absence, in the latest step in the US administration s efforts to engage Damascus, US…
Speculation mounts over imminent Shalit release, despite Israeli refutations
CAIRO: Speculation has mounted over the fate of captured Israeli soldier Gilad Shalit, who, reports claim, is to be released to Egyptian custody before handing him over to Israel.Israeli officials…
Egypt's OT says Mobinil row not hurting ops
CAIRO: Orascom Telecom s chairman said on Tuesday that France Telecom, its partner in the jointly owned Egyptian mobile firm Mobinil, was in the business of value destruction. Naguib Sawiris…
Pharos launches first equity fund
Taking advantage of new regulations set by the Capital Market Authority (CMA), Pharos Holding launched Tuesday its equity fund, Pharos Fund I.It's the first fund of its kind, Pharos said,…
UNB-Egypt moves forward with expansion plans
Union National Bank (UNB) Egypt is forging ahead with its expansion strategy and plans to have a total of 30 branches across the country by year's end. While this would…
One On One: MyGlobal looks to transcend borders for ease in banking
Ahli United Bank specializes in making connections. Together with its subsidiaries in Egypt, Qatar, Kuwait, Oman, Iraq and London, the Bahrain-based bank works to ensure that assets move as smoothly…
BUSINESS BEAT: Tanmeyah says small loans can mean big profits
In the world of finance, microfinance has long been viewed as a business with low enough margins, it's typically reserved for non-profit work. It's a business that demands high staff-to-client…
Egypt index dips in late sell-off
CAIRO: Egypt's benchmark index EGX30 ended slightly lower, its sixth straight decline, in low volumes after late selling hit Ezz Steel and blue chip firms dipped into the negative after…
Mozambique salutes late godfather of photography
Mozambicans on Tuesday mourned the recent death of Ricardo Rangel, a groundbreaking photojournalist who documented six decades of Mozambique's history from colonialism and through civil war.The 85-year-old Rangel, whose photographs…
Award-winning Iranian director urges support for protests
Award-winning Iranian film-maker Bahman Ghobadi, in Paris after being released from jail, on Tuesday urged the world to come out in support of the country's young protesters."Iran's youth has spilled…