8745 Articles
CAIRO: The head of Egypt’s influential seat of Islamic learning, Al-Azhar, called on Tuesday for bold Arab action to stop the Syrian government’s "hellish killing machine" while scolding China and Russia for blocking a peace plan in the UN Security Council. Grand Imam Ahmed El-Tayeb, head of the Cairo-based institution, also urged Syrian protesters fighting …
CAIRO: An Egyptian Cabinet minister has stoked tension with the US over funding nonprofit groups working for democracy in Egypt, accusing Washington of intentionally seeking to create chaos to prevent the country from prospering. The comments published Tuesday in state media were made by International Cooperation Minister Faiza Aboul Naga, a leftover from the old …
DUBAI: Reza, an Iranian businessman in his mid-30s, moved to Dubai 10 years ago to make his fortune. For a while, he succeeded — annual sales at his machinery trading firm reached $70 million. Over the past 18 months, most of what he built has crumbled. Tightening international sanctions against Iran over its disputed nuclear …
UNITED NATIONS: The United Nations General Assembly will vote Thursday on a new resolution calling on Syrian President Bashar Al-Assad to put a stop to deadly attacks on civilians, diplomats said. The resolution drawn up by Saudi Arabia and Qatar, which was given to member nations on Tuesday, also expresses support for the Arab League’s …
CAIRO: Egypt’s main index declined a second day on profit taking, retreating after a rally which has pushed it up by more than 40 percent since the beginning of the year, traders said. Orascom Telecom Media Technology (OTMT) slid 9.5 percent, its first drop since it began trading on the exchange on Jan. 22. Investors …
CAIRO: As part of a broader program that aims to meet the growing need for electricity Egypt, the World Bank’s board of executive directors approved on Tuesday an additional loan of $240 million for the Giza North Power Project. The project’s goal is to ensure an “efficient, reliable, and sustainable” power supply to Egypt, which …
LONDON: DP World, the world’s third-largest port operator, is set to benefit in the long term from its presence in regions that have been less hit by the economic downturn and from investments in its existing and new facilities, Credit Suisse said. The brokerage upgraded DP World to "outperform" from "neutral," and said it expects …
CAIRO: Egypt on Tuesday amended its rules for public private partnerships (PPP) to allow disputes to be resolved through arbitration rather than through Egyptian courts, a Finance Ministry official said. The move is part of a series of measures to make the PPPs more attractive to investors, said Atter Hannoura, director of the ministry’s PPP …
WASHINGTON: The United States said Tuesday its lawyers have received from Egyptian prosecutors a 24-page document that includes formal charges against US citizens working for pro-democracy groups in Egypt. The deputy prosecutor general also confirmed that Egypt’s court of appeals now has the investigative file, which includes the charging document and related evidence, State Department …
CAIRO: Egypt’s public prosecutor said on Monday an Australian journalist and a US student were barred from leaving the country, a day after they were released from detention on suspicion of bribing activists. Freelance reporter Austin Mackell and American student Derek Ludovici were arrested on Saturday along with their Egyptian translator Aliya Alwi in the …
CAIRO: Egypt’s first presidential elections since a popular uprising ousted veteran leader Hosni Mubarak a year ago will be held at the end of May, the state-owned Al-Ahram daily reported on Wednesday. The report comes amid mounting pressure against the military rulers who took power after Mubarak’s overthrow to cede power to civilian rule. Minister …
WASHINGTON: The top US military leader says Egypt’s ruling generals underestimated the US outcry after the crackdown on American nonprofit groups that promote democracy and its threat to the relationship with Washington. Army Gen. Martin Dempsey, the chairman of the Joint Chiefs of Staff, told the Senate Armed Services Committee Tuesday that the generals now …
CAIRO: Presidential hopeful Ahmed Shafiq denied Tuesday allegations that his candidacy is supported by the ruling military junta in a press conference to officially declare his intention to join the presidential race. Registration for the elections is slated to begin on March 10. "I trust that the armed forces will not support a specific candidate," …
CAIRO: The few voters who participated in the second round of Shoura Council elections said that the low turnout is due to people’s ignorance of the political role of the upper house of the parliament. The second phase of Shoura elections will be held over two days, Feb. 14-15 in 14 provinces: Giza, Suez, Ismailia, …
Finnish sci-fi spoof "Iron Sky" takes viewers on a wild ride to the dark side of the moon, where Nazis who survived World War Two have built a military base and are planning a "Meteorblitzkrieg" on planet Earth. Black US astronaut James Washington, on a mission to boost the flagging electoral fortunes of a US …
CAIRO: Egypt stopped production at three companies affiliated with the Holding Company for Spinning and Weaving on Thursday, in anticipation of possible self-liquidation. Due to lack of liquidity, production was halted at El Sharkeya Linen, Port Said Spinning Company and General Jute Company, according to a report by Egynews.net, and will most likely undergo self-liquidation …
Directors from around the world have tried to recreate the drama and trauma of captivity at this year’s Berlin film festival, though not all of them found a captive audience. From kidnapping to political repression, and from a queen trapped in her palace to detainees on death row, how humans behave when their freedom is …
CAIRO: After a bruising meeting in a five-star Cairo hotel, Arab foreign ministers led by Gulf states hinted to Syrian President Bashar Al-Assad that unless he halts his violent crackdown, some Arab League members might arm his opponents. The message was folded into Article 9 of a League resolution passed on Sunday that urges Arabs …
CAIRO: Egyptian state-run newspapers escalated a dispute with the United States over an inquiry into civil society groups on Tuesday by splashing across their front pages accusations of an American plan to spread "anarchy" in the Arab country. Based on remarks by a government minister, the headlines marked another low in a crisis between Washington …
CAIRO: Two hundred and fifty faculty and staff started an open strike Sunday at Gamal Abdel Nasser Experimental School in Heliopolis, suspending teaching and all other activities to pressure the Ministry of Education to meet their demands. “We are going on an open strike until all our demands are met,” said Ezzeldin Kheirallah, philosophy and …
CAIRO: Cityscape Egypt, in association with Next Move, is gearing up to open its inaugural exhibition and conference on February 20, at the Cairo International Convention Center. Taking place February 20-23, Cityscape Egypt/Next Move 2012 will convene investors and real estate professionals to talk the sectors related to the industry. The exhibition and conference will …
CAIRO: OTVentures, an online and mobile technology company affiliated with Orascom Telecom, Media and Technology (OTMT), acquired a 51 percent stake of Egypt’s group-buying site Dare’n’Deal, in a deal worth LE 20 million. In a statement, OTVentures hailed the move as a “turning point in the development of the region’s e-commerce industry.” The assessment of …
ISMAILIA: Dubai’s port operator DP World shut down its Ain Sokhna port in Egypt for the second day on Monday because of labor strikes that have disrupted shipments, an official at the Red Sea port authority said. Workers have been protesting for three days to press for hardship allowances, wage restructuring and a percentage of …
DUBAI: The Egyptian government, seeking to head off a funding crisis, is preparing to raise about $2 billion through its first issue of Islamic bonds, an Islamic scholar familiar with its planning said on Tuesday. "The Egyptian government is convinced that a foreign currency sukuk will fund the country’s development projects and can also bridge …
CAIRO: Egypt’s Orascom Telecom Media Technology (OTMT) said on Monday it would give shareholders much of the $1 billion it stands to gain by selling its stake in Mobinil and keep part of it for new business opportunities. OTMT said earlier it had reached a preliminary accord to sell most of its stake in the …
CAIRO: Egypt’s stock exchange has asked Orascom Telecom Media and Technology for more details on a deal for France Telecom to buy out most of OTMT’s stake in jointly telecom operator Mobinil, it said in a statement on Tuesday. Under the terms of the accord, France Telecom will buy the stake held by Egyptian tycoon …
CAIRO: Egypt’s stock exchange briefly suspended trade in EFG Hermes shares on Tuesday but resumed dealing after the investment bank issued details about its Chief Executive Yasser El-Mallawany, who faces a travel ban. The shares were trading down 1.6 percent by 1045 GMT, compared to a 1 percent drop in benchmark index. Airport authorities prevented …
CAIRO: A British charity worker who was barred from leaving Egypt last week over an investigation into non-governmental organizations operating in the country was cleared to return to Britain on Tuesday, sources at the airport said. The sources did not give details about Diane Diacon’s work, but she is listed as director of The Building …
LONDON: A US security company whose tear gas has been used against Egyptian demonstrators has become the latest victim of the Anonymous movement, hackers claimed Tuesday. In a statement posted to the internet, hackers claimed to have broken into Combined Systems Inc.’s website and stolen personal information belonging to clients and employees of …
WASHINGTON: US President Barack Obama’s administration on Monday requested a fund of nearly $800 million to boost political and other reforms in Arab countries undergoing pro-democracy revolutions. He also retained $1.3 billion of military aid to Egypt. The new fund is part of $51.6 billion requested for the State Department and US Agency for International …
