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Vignette, a leading provider of Next-Generation web solutions, announced last week the successful deployment of its Vignette Digital Services Hub to power the online presence of MBC television station, the Middle East s major broadcasting channel with a significant presence worldwide. MBC.net offers 20,000 daily visitors program information and clips. It is based on a …
DUBAI: Eli Lilly and Company announced strong financial results for the second quarter of 2007 and raised its full-year sales and earnings per share guidance. In the second quarter, there was a 20 percent increase in sales to $4.631 billion. Reported net income and earnings per share were $663.6 million and $.61, respectively, compared with …
CAIRO: Ahli United Bank Bahrain (AUB) has announced that it has received shareholder approval to increase its stake in Ahli United Bank Egypt to up to 100 percent, subject to receiving all regulatory approvals in Egypt. After clearing the regulatory approvals, shareholders in Ahli United Bank Egypt will be given the opportunity to tender their …
DAMASCUS: Some 60 Palestinian couples were married in a mass wedding ceremony at their refugee camp in Syria in the first event of its kind to be sponsored by the Islamist Hamas movement. The pro-Hamas marriage ceremony late Friday night was attended by 5,000 people. It aimed to help young people deal with the prohibitive …
Intel Corporation introduced its first Intel Core 2 Extreme mobile dual-core processor – the world’s highest-performing mobile processor, according to a statement released to the press. The company also introduced new desktop processors and said it expects to announce battery-friendly quad-core processors for laptop computers next year. The new products come on the heels of …
Solidere International LTD, a Lebanon-based company, has started work on two development projects in Cairo: one in Sheikh Zayed covering 1.2 million square meters, and the second in Katamya covering 850,000 square meters, according to a statement released to the press. Both projects will create mixed-use complexes of residential, office, leisure, hotel and serviced apartment …
CAIRO: The median overnight interbank rate on Egypt s pound was unchanged at 8.752 on Monday, with banks squaring their positions at the end of a two-week central bank reserve ratio period, dealers said. The market is extremely liquid because it s the last day of the reserve period, one dealer said. Rates are typically …
ZURICH, Switzerland: Pele and Samuel Eto o headed the list of international stars Thursday when FIFA announced the lineups for a match to honor Nelson Mandela s 89th birthday. More than 50 players have confirmed their participation in the 90 Minutes for Mandela match on July 18 at Newlands Stadium in Cape Town, South Africa. …
CAIRO: Egypt won t accept new conditions the US House of Representatives has attached to a military aid bill, Foreign Minister Ahmed Aboul Gheit said. Speaking to reporters in Cairo, Aboul Gheit said US Vice President Dick Cheney and Secretary of State Condoleezza Rice were also opposed to the conditions in the bill, which cleared …
Dubai: Jebel Ali Free Zone (Jafza) is planning to hold special promotional road shows in Egypt in the last quarter of 2007 in collaboration with the UAE Embassy following a huge demand for information from potential investors at the recent Interbuild 2007 exhibition in Cairo, according to a statement released to the press. Businesses operating …
Amadeus, a leader in technology and distribution solutions for the travel and tourism industry, has added 5,000 more hotel properties to its distribution system since October last year, providing travel agents from the Gulf region with access to 75,000 properties across the globe, according to a press release. Amadeus continues to place particular emphasis on …
The Egyptian British Business Council (EBBC) will hold its biannual meeting in London on Tuesday July 3. The EBBC – an independent bilateral body composed of senior business figures from the UK and Egypt – feeds the views of the business community into both governments. The meeting will discuss how to further stimulate trade and …
CAIRO: Freight forwarder BALtrans has opened a new office in Egypt, named Premier BALtrans Egypt. Being the master franchisee, Premier BALtrans Middle East has been assigned the task of opening offices in 12 countries under the Premier BALtrans brand. “The opening of the Egypt office is another milestone for Premier BALtrans apart from its establishments …
CAIRO: Roundtable talks held Wednesday at the National Council for Human Rights discussed ways in which to lobby its proposed amendments to Law 106 of year 1976 that deals with the regulation of construction work. Based on values of equal citizenship rights and a unified state detailed in the Constitution and echoed in the recent …
Abraaj Capital, private equity investment in the Middle East, North Africa and South Asia (MENASA) region, announced that it has acquired 100 percent of GMMOS Group, a major regional oil and gas services and industrial group operating in the high-growth Gulf and Caspian markets. GMMOS Group is comprised of four well-established business divisions, including Grandweld, …
FRANKFURT: German flag carrier Lufthansa unveiled Thursday a code-sharing agreement with EgyptAir that it said would mark the start of close cooperation between the two airlines in the future. Lufthansa said in a statement that the cooperation would begin with the introduction of the winter timetable at the end of 2007. Initially, code-sharing would be …
Actis, a leading private equity investor in emerging markets, announced today that it has acquired a 70 percent stake in Sinai Holding for Marble & Investments (Sinai Marble). Sinai Marble is an integrated marble producer and, with exports to over 40 countries, is one of Egypt s leading marble exporters. With more than $3.4 billion …
CAIRO: Visa International, under the auspices of the Egyptian Ministry of Tourism, kicked off its inaugural Tourism Forum on Sunday. The event highlighted the influence of electronic payments to the tourism industry and discussed ways in which Egypt can leverage the opportunities for even greater success in the sector. Zoheir Garranah, minister of tourism served …
Proceeds from Dior’s gala fashion show tonight will be contributed to The Right to Live Association for the Intellectually Disabled (RTLA). The association is a nonprofit private organization that provides care and training to people with special needs. Established in 1981 by parents and families of an intellectually disabled individual, RTLA has one main goal: …
HED: CAIRO: Minister of Trade and Industry Rachid Mohamed Rachid held a session of talks on Saturday with senior Russian officials on the sidelines of meetings of the Russian economic forum which kicked off in Petersburg late on Saturday, reported the State Information Service. Rachid was reported to have met with Russian Industry and Energy …
CAIRO: Attended by 250 guests, representing 40 agencies, and 67 companies, 20 nationalities from 11 countries, the annual MSN Arabia symposium, The Connection 07 , held in El Gouna last month, was an unprecedented success, as the biggest private advertising and marketing event in the history of the region. The three-day program of the event …
CAIRO: University of Cambridge International Examinations (CIE) announced the appointment of Magda Mohyeldin as its Senior Business Development Manager for Middle East and North Africa (Mena). Mohyeldin will be based in Egypt alongside CIE’s existing team and will be supporting CIE schools in Egypt, Jordan, Syria and Lebanon. CIE is the world’s largest provider of …
CAIRO: Secretary General of the National Council for Human Rights calls on the future generation of diplomats to engage in dialogue, to accept criticism and be able to co-exist in the international arena while simultaneously becoming involved in shaping internal politics. As part of their training at the diplomatic academy, the new class of diplomatic …
CAIRO: As the Hotel Information Program on the Internet’s importance for the Egyptian tourism sector successfully concluded in Cairo last week, this innovative educational seminar received strong praise from the Assistant Minister of Tourism Hisham Zaazou. Zaazou stated, “I am a firm believer in the need for this program, which is well aligned with the …
Authorities have released a Christian convert from Islam who had been allegedly jailed without charge for the past two years under the nation’s controversial emergency laws, a Christian news agency reported Thursday, May 24. Compass Direct News said officials at the Wadi El-Natroun Prison handed Bahaa El-Akkad an Egyptian bill worth nearly LE 50 for …
DOHA: Corecap, the regional investment and advisory firm specialized in alternative investments, announced today the launch of its first $150 million Corecap Islamic private equity Fund I (Cipef I). Cipef I will fund Sharia compliant Private Equity investments in the Middle East and North Africa (Mena) region via equity participation and via a unique Sharia …
Egypt is poised to become the India of the Middle East as it seeks to ramp up its share of the global outsourcing market, experts predict, according to reports by IT Week. Yankee Group noted that more multinational companies are using IT outsourcing and business process outsourcing as tools to transform their organizations into global …
BEIRUT: A UN relief convoy carrying supplies was hit in renewed fighting Tuesday as it tried to enter the besieged Palestinian refugee camp of Nahr el-Bared, a relief official said, adding that there may have been at least one casualty. The official from the UN Relief and Works Agency said a pickup truck and a …