Aramco, Sinopec set to sign Saudi refinery deal
KHOBAR: State oil giant Saudi Aramco will sign a final deal next week to build a new 400,000 barrels per day (bpd) oil refinery in Yanbu with China's Sinopec Group,…
EIIB acquires 35 pct stake in Rasmala
DUBAI: European Islamic Investment Bank is to invest $16 million over 12 months in Rasmala Holdings Ltd via a financing facility convertible into shares representing about 35 percent of the…
Egypt’s Christians celebrate Christmas amid fears
CAIRO: Egypt's Christians on Saturday celebrated their first Christmas since the ouster of President Hosni Mubarak, amid tight security and a display of national unity to allay fears of the…
UAE’s Arqaam Capital buys Egyptian brokerage El Rashad
DUBAI: Arqaam Capital, a Dubai-based regional investment bank, has acquired Egyptian brokerage firm El Rashad Securities, tapping into low valuations and growth prospects in the politically unstable North African country.…
Volatile markets expected to yield growth in 2012: HSBC
CAIRO: As volatility gives way to long-term investment opportunities, a report by HSBC said Egypt’s economy will show “positive growth” in 2012 after last year’s slowdown. HSBC’s Global Asset Management…
One year on, Alexandrians remember alleged torture victim of Al-Qeddesine probe
ALEXANDRIA: Tens of protesters commemorated Friday the first anniversary of the death of a Salafi, who allegedly died as a result of torture at the hands of the disbanded state…
Moscow ‘concerned’ over Mubarak death demand
MOSCOW: Russia on Saturday said it was concerned after Egyptian prosecutors demanded a death sentence for fallen dictator Hosni Mubarak, calling for humanitarian factors to be considered. "Such announcements are…
US reaches out to Egypt’s Muslim Brotherhood
WASHINGTON: A once reluctant United States is reaching out to the Muslim Brotherhood in a nod to Egypt's new political reality, but concerns linger about the group's attitude toward minorities,…
Obama calls for protection of Copts in Egypt
WASHINGTON: US President Barack Obama called Friday for the protection of Copts and other minorities as the Christian group celebrated its first post-revolution Christmas in Egypt. "As events in Egypt…
Oil hovers below $103 as EU mulls Iran oil ban
Oil prices hovered below $103 a barrel Thursday as the European Union mulled a ban on oil purchases from Iran and a report showed mixed signs about US crude demand.…