Spillover of global economic turmoil further stress on Egypt, says economist
CAIRO: The European sovereign and banking crises as well as the American fiscal stalemate will most acutely impact Egypt, given the implications on global growth, Citigroup chief economist Willem Buiter…
OCI Q3 net up 24 pct, matching consensus
CAIRO: Egypt's Orascom Construction (OCI) said on Monday its net income for the third quarter of 2011 rose 24 percent, in line with expectations, and that business was expanding in…
EIPICO says 9-month net profit up 0.5 pct
CAIRO: Egyptian drug maker EIPICO's 2011 nine month net profit rose 0.5 percent year-on-year, the company said in a statement released by the stock exchange on Monday. Net profit climbed…
Olympic says 9-month net loss LE 248.7 mln
CAIRO: Egypt's Olympic Group said on Monday it had a net loss of LE 248.7 million in the first nine months in 2011. This compares to a net profit of…
Actis closes $434 mln deal in South Africa, eyes Egypt
CAIRO: Actis, a pan-emerging markets private equity fund, led a consortium in the $434 million complete management buy-out of Tracker, South Africa’s largest vehicle tracking company, according to a statement.…
UAE’s Al Futtaim eyes $1.3 bln for Qatar, Egypt plans
DUBAI: Al Futtaim Group, a UAE-based conglomerate, is planning to raise around $1.3 billion to finance its expansion in Qatar and Egypt, an executive at the company said. The company…
Hungary seeks IMF help; Egypt CDS, FX hit by turmoil
LONDON: The Hungarian forint skidded more than 1 percent against the euro on Monday after Budapest requested help from the IMF while Egypt's debt insurance costs blew out 60 basis…
EU condemns bloodshed in Egypt; NATO calls for patience
BRUSSELS/ HALIFAX: The European Union's on Sunday condemned the bloodshed in Egypt, where security forces killed at least 20 people as they cleared protesters from Cairo's Tahrir Square. "I am…
Egypt police officer killed in Sinai shooting
CAIRO: One police officer was killed and another injured in Egypt's Sinai on Monday during clashes with members of an Islamist group suspected of attacks on a pipeline, a security…
20 people killed in Sunday clashes
By Agencies CAIRO: Egypt's Health Ministry says 20 people have been killed since Sunday in clashes between police and protesters demanding the country's military rulers quickly transfer power to a civilian…