OCI details rights issue
CAIRO: Orascom Construction Industries (OCI) said on Wednesday it was offering existing shareholders 11.5 million new shares at a price of LE 201 ($35.08) per share.The offer works out at…
Hamas should not rush to recognize Israel as a way out of impasse, says Palestinian official
CAIRO: A senior Fatah official said Wednesday that the Palestinian militant movement Hamas does not need to recognize Israel immediately as a condition for forming a government, hinting it could…
Salve for Muslim wounds
CAIRO: European Union Foreign Policy Chief Javier Solana said in his last press conference in while in Egypt late Tuesday that his visit to Cairo had cleared up many misunderstandings,…
Controversial poll delay approved by parliament
CAIRO: The Egyptian parliament has approved a two-year postponement of municipal polls despite fierce objections from opposition Islamists and the United States, lawmakers said Wednesday.The postponement of the municipal polls,…
The PR prerogative
CAIRO: In the aftermath of a progressive government and a growing economy, Egypt is witnessing the entrance of a slew of multinationals and local businesses with a modern outlook, to…
Newly observed patriotism
CAIRO: Everyone is talking about the thousands at Cairo International Stadium that cheered on the national team during the African Cup of Nations: they were organized and enthusiastic even though…
More than war; traffic-related deaths exceed armed conflict
CAIRO: Do you leave Heliopolis at 2:30 p.m. to make a 3 p.m. appointment downtown, only to arrive 15 minutes late cursing the slow drivers and dilapidated cars that caused…
Egypt median o/n interbank rate steady at 8.45 pct
CAIRO: The median overnight interbank rate on the pound rose to 8.45 percent on Tuesday from Monday s 8.365 percent with pound demand stronger at the start of a new…
Big Egyptian stocks recover some losses
CAIRO: Big Egyptian stocks recovered some of their recent losses on Tuesday, led upwards by investment bank EFG-Hermes and Orascom Construction Industries, which announced it had a stake in a…
IT sector set for growth but inhibited by lack of investment
CAIRO: The software industry in Egypt has been on the rise since the establishment of the Ministry of Communications and Information Technology in 1999. While the country has long been…