Egypt shares slump, led by telecoms
CAIRO: Egypt's benchmark index slipped 2.4 percent, with telecom shares declining after mobile operator Mobinil posted a fourth quarter net loss. Mobinil, which dipped 1.7 percent, said last year's political…
Arab Spring navigates Islam, democracy
By Christophe de Roquefeuil / AFP CAIRO: The Arab Spring that reshaped the region's political landscape has entered a second year, marked by fragile transitions and the empowerment of Islamists…
Egypt to boost Gaza power supply to ease crisis
By Nidal al-Mughrabi / Reuters GAZA/CAIRO: Egypt will let more fuel into Gaza and increase the amount of electricity it supplies to the Palestinian enclave, Palestinian and Egyptian officials said on…
Abraaj interested in Turkey’s Calik media assets: sources
ISTANBUL: Dubai-based Abraaj Capital is among companies interested in bidding for the media assets of Turkey's Calik Holding, ATV television and newspaper Sabah, which are being evaluated separately, two sources…
UBS cuts Mobinil to neutral
LONDON: UBS downgraded Mobinil to "neutral" from "buy" citing fears of a potential delay in a deal by France Telecom to buy Egyptian tycoon Naguib Sawiris' stake in the country's…
Jordan PM plans to visit Iraq after Egypt gas cuts
AMMAN: Jordanian Prime Minister Awn Khasawneh said Tuesday he plans to visit Iraq "very soon" to look for alternatives for Egypt's gas after repeated cut-offs in supplies to the energy-poor…
Mobinil says Q4 net loss $29 million
CAIRO: Egyptian mobile firm Mobinil said on Monday it posted a net loss in the fourth quarter of 2011 of LE 177 million ($29.32 million). The firm had posted a…
GB Auto to assemble Geely autos
CAIRO: GB Auto, Egypt's biggest listed automobile assembler, said on Tuesday it had agreed to assemble passenger cars provided by Hong Kong-based Geely Automobile Holding Ltd and begin distributing Geely…
Brotherhood says Egypt govt failing, wants coalition
CAIRO: The Muslim Brotherhood on Monday voiced its strongest criticism yet of Egypt's army-appointed government, saying it was failing to deal with crises in security and the economy, and reiterating…
Egypt to sell short-term dollar debt in March: report
CAIRO: Egypt plans to offer US-dollar certificates of deposit (CD) to Egyptians living abroad at the beginning of March to help it raise foreign currency, Al-Borsa newspaper on Tuesday quoted…