Markets shaky as global worries weigh
DUBAI: Middle East equity markets are braced for another rocky week, with volatile global exchanges likely to dictate direction in the absence of compelling local factors to distract investors from…
Samih Sawiris to settle case with LE 20 mln fine
CAIRO: Egypt’s financial regulator accepted a settlement whereby Samih Sawiris, chairman of Orascom Hotels and Development, will pay a compensation of LE 20 million to drop a jail sentence. A…
EFG Hermes closes Olympic Group, Electrolux deal
CAIRO: Investment bank EFG Hermes closed the sale of Egyptian white-goods manufacturer Olympic Group to Sweden’s Electrolux Group, following a mandatory tender offer by Electrolux for 100 percent of Olympic’s…
Egypt to build $400 mln sugar refinery
CAIRO: A sugar beet refinery to be built in Port Said at a cost of $400 million will have a capacity of 500,000 tons of sugar a year, making it…
Sinai Bedouins to join Egypt’s police
CAIRO: An Egyptian Interior Ministry official says the ministry is changing a rule that had kept most Sinai Bedouins from joining the police force. The official, speaking on condition of…
Israel deploys drones over Egyptian border
TEL AVIV: A senior Israeli military official says the air force has deployed a special unit of unmanned surveillance aircraft along its long, porous border with Egypt after militants crossed…
Egypt court clears ex-TV chief of corruption charges
CAIRO: A Cairo court on Thursday cleared the former head of Egypt's television and radio union, Osama El Sheikh, of charges of squandering public funds by purchasing entertainment shows at…
Egypt requiring tourists to get visas in advance
CAIRO: Egypt's Cabinet says it's changing its visa regulations, meaning visitors looking to catch a glimpse of the pyramids will no longer be able to get a visa upon arrival.…
El-Adly says witness testimony false, instructions were to ‘secure protests’
CAIRO: In an unexpected semi-tirade at the fifth hearing of the case of killing protesters, ex-interior Minister Habib El-Adly told the court that the testimony of the eighth prosecution witness…
Martyrs’ families accuse Essawy of ordering their beating
CAIRO: A complaint accusing Egypt’s interior minister and Cairo’s security chief of ordering the beating of martyrs’ families outside Hosni Mubarak’s trial was referred Thursday to the East Cairo Prosecution.…