Oil dips on euro zone woe, slow global growth
LONDON: Oil dipped on Thursday as investors tried to lock in profit from their highest levels in about two weeks, with worries about euro zone debt problems and slower global…
Citibank Egypt named ‘best internet bank’
CAIRO: Global Finance magazine named Citibank the Best Corporate/Institutional Internet Bank in addition to the Best Consumer Internet Bank in Egypt in 2011, according to a statement. This marks the…
Pioneers Q2 net profit jumps
CAIRO: Egyptian investment bank Pioneers Holding made a net profit of LE 30.5 million ($5.1 million) in the second quarter of 2011, up from LE 10.1 million a year earlier,…
Egypt exchange suspends Mobinil trading
CAIRO: The Egyptian Exchange suspended trading in Mobinil shares at the start of Thursday's session, a day after the mobile phone company's stock surged 10 percent on speculation over potential…
Johnson Controls finds Egypt partners as base for Africa expansion
CAIRO: Johnson Controls Inc., with a regional bureau in Dubai, has partnered with Egypt’s Shams Group and Tiba Engineering Industries to distribute and manufacture products locally as well as to…
OIC members vow to donate $350 million to Somalia
ISTANBUL: Members of the Organization of Islamic Cooperation, at an emergency meeting in Istanbul Wednesday, vowed to donate $350 million for famine relief in Somalia. "We said we aimed (to…
HRW accuses Egypt military of silencing critics
CAIRO/ WASHINGTON: Human Rights Watch accused Egypt's military on Thursday of escalating a crackdown on critics, after it decided to try an activist for insulting the ruling generals. Asmaa Mahfouz,…
Military court sentences 5 to death for murder, 2 to six months for insulting army
CAIRO: Egypt's military on Wednesday sentenced five men to death for robbery and murder and sentenced two men to six months in prison for chanting anti-military slogans. One…
US, Egypt cancel military exercise
WASHINGTON: The United States and Egypt have canceled a major military exercise this year to allow Egypt's generals to focus on governing the country, officials said Wednesday. The exercise, dubbed…
Egypt’s revived anti-graft law may net Mubarak
CAIRO: Egypt's government revived an amended version of a 60-year-old anti-corruption law on Wednesday, the state news agency MENA said, in a move that could affect the trial of ousted…