Egypt opens nominations for president March 10
CAIRO: Nominations for Egypt's presidential election will be accepted from March 10, officials said, signaling the military rulers have accelerated their plan for handing power to civilians. Abdel Moez Ibrahim,…
Lawyers Union slams indictment of 44 NGO workers
CAIRO: The Lawyers Union for Legal Studies and Democracy called on the Supreme Council of the Armed Forces (SCAF) to investigate alleged foreign funding of the Muslim Brotherhood group and…
For Tony Kaldas, ‘art is not an option, it’s a right’
“You are my brother and I love you/I love you when you bow in your mosque/kneel in your temple/pray in your church” When listening to Egyptian singer Tony Kaldas’ song…
EFG Hermes shares slide after CEO’s travel ban
CAIRO: Conflicting reports surrounded the reasons behind a travel ban on Yasser El-Mallawany, CEO of Cairo-based regional investment bank EFG Hermes, as shares in the firm fell 4.5 percent on…
Prosecution detains 25 protesters for 15 days pending investigation
CAIRO: Cairo’s Zenhom prosecution Monday remanded 25 protesters in custody for 15 days pending investigations into their involvement in the clashes with police forces in front of the Ministry of…
IFC invests $124 mln in Medgulf to extend MENA insurance reach
CAIRO: IFC, a member of the World Bank Group, said it is investing up to $124 million in the Mediterranean and Gulf Insurance and Reinsurance Company (Medgulf), a regional insurer.…
Egypt trims 5-year bond sale, cancels 7-year
CAIRO: Egypt's central bank sold only half the reopened five-year bonds it offered at an auction on Monday and none of the reopened seven-year bonds, the Finance Ministry said on…
Concession fails to quell violent Egypt clashes
CAIRO: Egypt's army-backed government said it was preparing to move ousted President Hosni Mubarak to a Cairo prison hospital in an apparent bid to calm protests, but clashes continued with…
Egypt expects tourist numbers up despite clashes
DUBAI: Egypt's Ministry of Tourism hopes to see a recovery in tourist numbers to between 12 and 13 million this year, bringing in $11 billion, despite ongoing street violence and…
Egypt equities rebound may be part of bumpy ride
DUBAI: Egypt's post-revolution equities are cheap but still not cheerful. Valuations are low even with a 27 percent rise in the benchmark index since the start of the year, due…