Egypt mobile phone Aug subscriptions up 28 pct
CAIRO: The number of mobile phone subscriptions in Egypt grew 28.4 percent from a year earlier to 78.99 million as of August, government figures showed on Thursday. In July the…
Suez Canal says to raise fees 3 pct in 2012
CAIRO: Egypt's Suez Canal Authority said on Thursday it would raise toll fees for all vessels passing through the strategic waterway by 3 percent starting March 2012, saying tariffs had…
Citadel plans $200 mln power plants in Uganda
NAIROBI: Egyptian private equity firm Citadel Capital plans to invest up to $200 million in setting up power plants in Uganda in the next two years, a senior company official…
Egypt’s new PM to hold finance portfolio too: paper
CAIRO: Egypt's new prime minister, Kamal El-Ganzoury, may also hold the finance portfolio in the new Cabinet, the website of a leading newspaper reported on Thursday. Egypt's economy has…
Army official sees Egypt foreign reserves plunging
CAIRO: Egypt's foreign reserves will plunge by a third to $15 billion by the end of January and the budget deficit will grow, possibly leading to a review of sensitive…
Kraft Foods’ organic revenue growth boosts Q3 results
CAIRO: Kraft Foods Inc. saw an 11.5 percent increase in net revenues in the third quarter, reaching $13.2 billion, according to a statement. Kraft Foods, which has four production plants…
Dana Petroleum enters new joint venture in Egypt
CAIRO: A new joint venture between Dana Petroleum and the Egyptian General Petroleum Corporation will form Petro Kareem, which will produce oil and gas from a concession on the Gulf…
West should embrace ‘Arab Spring’ Islamists, says Qatar
LONDON: Qatar's Prime Minister Sheikh Hamad bin Jassim al-Thani was quoted on Thursday as saying Islamists were likely to represent the next wave of political power in the Arab world…
Presidential hopefuls turn down cabinet jobs
CAIRO: Prime Minister designate Kamal Al-Ganzoury said on Wednesday he was in talks to form a new government after five presidential candidates turned down invitations to join his cabinet. Egypt's…
Police ‘eye sniper’ turns himself in: official
By AFP CAIRO: A policeman nicknamed the "eye sniper" after he was filmed apparently aiming rubber bullets at protesters' heads during clashes in Cairo has handed himself in for questioning,…