Abu Dhabi sells stake in electric carmaker Tesla
By Dinesh Nair / Reuters DUBAI: Abu Dhabi National Energy (TAQA), a state-owned oil explorer and power supplier, has sold its 7 percent stake in Tesla Motors Inc, cashing out from…
SunCity Mall opens in Egypt at a price tag of LE 3 bln
By Reem Abdellatif CAIRO: SunCity, a new addition to Egypt’s shopping and entertainment centers worth more than LE 3 billion (about $497 million) in total investments, officially opened last week. This…
IFC helps educator build schools across Egypt
CAIRO: IFC, a member of the World Bank Group, is lending the Cairo Investment and Real Estate Development company (CIRA) up to $15 million to help the firm build primary…
Emirates ups Egypt services to 13 weekly flights
CAIRO: UAE-based Emirates Airline said it will “fully restore its services to Egypt by boosting its frequencies to 13 per week,” to cater to growing passenger and cargo demand. In…
Pakistan row nears end, UAE Etisalat may have to pay out
By Matt Smith / Reuters DUBAI: Pakistan Telecommunication (PTCL) should soon receive assets due to it as part of its partial privatization, its chief executive said, a development that could trigger…
EFG-Hermes 2011 profit tumbles 63 percent
By Ehab Farouk and Tamim Elyan / Reuters CAIRO: Egyptian bank EFG-Hermes reported a 63 percent drop in 2011 net profit on Sunday as the economic fallout from uprisings across the…
Egyptian court stops opposition figure from presidential run
By AFP CAIRO: An administrative court in Egypt on Saturday blocked opposition figure Ayman Nour from running in next month's presidential election, the official news agency Mena reported. The court…
Egypt’s Brotherhood picks alternate candidate
By Aya Batrawy / Associated Press CAIRO: Egypt's most powerful political group, the Muslim Brotherhood, announced Saturday it is nominating the head of its party as a back-up candidate for president…
Nour, Sabahy submit candidacy applications
By Safaa Abdoun CAIRO: Presidential hopefuls Ayman Nour and Hamdeen Sabahy filed their candidacy documents to the Presidential Election Committee (PEC) on Friday amidst much celebration by their supporters. The two…
East Berliner’s lifelong passion for vintage fashion
By Kate Millar / AFP When Josefine Edle von Krepl fled East Berlin just before the Wall fell in 1989, she managed to save her vast hoard of vintage clothing by…