Slaying the myths of bricks and mortar
CAIRO: Against a global background of house price slumps and the great Western recession, those ubiquitous vistas of real estate projects that dominate the Egyptian horizon might now seem in…
SECTOR SNAPSHOT: Is the construction sector threatened by high prices?
Complementing the boom in the real estate sector, the construction domain has also experienced a notable surge; however, the continuity of this upward trend remains in question by many analysts.…
Training the labor force of a growing economy
CAIRO: In his jeans and modest T-shirt, Ayman, 23, is listening attentively together with his colleagues to their instructor. Around 25 men in their 20s are seated in the neat,…
Trade agreements back up reforms
Since 2004, Egypt has been one of the Middle East's fastest growing economies. The International Monetary Fund's annual economic health check attributed the impressive economic growth to a winning combination…
1.5 tons of marijuana seized in Sinai
CAIRO: Authorities discovered four marijuana fields in the Sinai peninsula and seized 1.5 tons of marijuana elsewhere in the largely desert region on Thursday, a security source told AFP. Police…
Millionaire fraudster jailed for a millennium
CAIRO: An Egyptian man was sentenced to 1,000 years behind bars on Thursday after scamming hundreds of people out of LE 280 million (around $52 million), a court official said.The…
Trabzon finalize Moawad deal
ISMAILIA: Trabzonspor have taken up an option to sign Egypt full-back Sayed Moawad on permanent basis after paying Ismaili $900,000.Moawad has penned a three-year deal with the Turkish outfit, but…
News in brief
Orascom seeks companies in Asia, AfricaReuters reported that Orascom Telecom (OT) set up a subsidiary to look for investment opportunities in small to medium-sized enterprises operating mobile phone networks in…
Finnish defense firm Patria suspected of bribery, say police
HELSINKI: Finnish police said Wednesday they had arrested two people as part of an investigation into whether defense company Patria bribed officials to win contracts in Egypt and Slovenia.The company…