798 Articles
PHDC to finalize Maccor s acquisition in January 2010 Palm Hills Development (PHDC) is expected to officially finalize the acquisition of Maccor by January 2010 according to Ihab Swellem, PHDC s CFO. Maccor owns a group of hotels in Sharm El-Sheikh, Ismailia and 6th of October under the brand names of Accor/Novotel. Swellem denied further …
The Central Bank of Jordan (CBJ) cut basic lending rate 50 bps or 0.5 percent trimming the rediscount rate to 4.75 percent, the (repo) rate to 4.5 percent and the overnight window deposit rate to 2.5 percent, the bank said in a statement. This is the fourth consecutive cut in key interest rates since Nov. …
VATICAN CITY: Pope Benedict XVI reappeared in public Friday urging tolerance for migrants in his Christmas message, hours after a woman knocked him to the floor during evening mass in St Peter’s Basilica. The 82-year-old appeared unshaken as he addressed tens of thousands in St Peter’s Square and millions around the world, urging “acceptance and …
CAIRO: A planned eviction campaign of some 28 buildings in Izbet El-Haggana in Nasr City turned violent Tuesday morning as residents resisted the eviction attempts of central security forces. The eviction notices have since been cancelled in the wake of the violence, in which 11 civilians and 15 central security soldiers were injured, as well …
CAIRO: Eight deaths on Sunday brought the death toll of the HINI virus in Egypt to 56, with officials predicting that the number will reach 100 by the end of December. According to a statement Sunday by the Minister of Health Hatem El-Gabaly, he also predicted that the toll will continue to rise well into …
CAIRO: Eggert Muus has no worries about taking over as general manager of the Concorde El Salam Hotel in Heliopolis. Muus recently moved to Cairo from Shenzen, a city in Southern China he claims most people wouldn’t have heard of, but with 12 million people, it is a relatively large city. There, he received ample …
CAIRO: Egypt’s government is channeling most of its additional spending into infrastructure projects in a bid to combat fall-out from the global financial crisis and kick-start recovery, according to the country’s Minister of Finance. In an exclusive interview with Oxford Business Group (OBG), the leading global publishing, research and consultancy firm, Youssef Boutros-Ghali acknowledged that …
CAIRO: Minister of Electricity and Energy Hassan Ahmed Younis announced Sunday that the location for the first nuclear energy station in Egypt will be decided at the end of this month. Yassin Ibrahim, head of Nuclear Power Plants Authority, said that El-Daba’a station is fully prepared to act as the first nuclear station’s location in …
CAIRO: Private equity firm Citadel Capital acquired a controlling stake in two firms operating in the solid waste management sector, the company said in a statement. “The Egyptian Company for Solid Waste Recycling (ECARU) and the Engineering Tasks Group (ENTAG) are managed as one firm and will be grouped under a single holding company that …
CAIRO: In a statement to Egyptian terrestrial TV Monday, Gamal Mubarak, head of the policies secretariat in the ruling National Democratic Party, said that attacks on Egyptian fans by Algerians in Khartoum following the World Cup qualifier will have grave consequences. “Anyone who thinks that this will just pass is gravely mistaken, said Mubarak, son …
CAIRO: Egypt is looking to add three more areas to the QIZ zones it has with the US, reported Reuters, citing Minister of Trade and Industry Rachid Mohamed Rachid. The government wants to expand the number of Qualified Industrial Zones (QIZ) to the southern governorates, Rachid said; but textiles, one of Egypt s largest industries, …
CAIRO: According to an article that ran on Goal.com Sunday, Egypt’s international striker Amr Zaki, declared he will not be interested in joining English Premier League club Portsmouth because that would mean he will play alongside Algerian defender Nadir Belhadj. UAE businessman Sulaiman Al-Fahim, who has a stake at Portsmouth, disclosed that the former Wigan …
Forget about scrambling for notebooks and photo albums in a tight corner around the cashier in Diwan. At Qirtassiya, there is a whole floor dedicated to stationery. Cairo’s favorite bookstore has opened its own stationery division just two blocks down the road from Diwan’s first branch in Zamalek on 26 of July Street. The name …
CAIRO: Thirty-three teams from across the gas and oil industry joined the BG Energy Challenge 2009, raising LE 1 million that will go to fighting poverty in Upper Egypt, the company said in a statement. From November 5-8, participants faced the mountains of Sinai’s St. Catherine’s, with its rocky landscapes, steep slopes and rugged terrain. …
CAIRO: The Marathon of Hope is coming to Egypt for the first time today. Under the auspice of the Supreme Council of Antiquities and Sound and Light, the Canadian Embassy in Cairo, in collaboration with the Children Cancer Hospital 57357 and Four Seasons Hotel Cairo at the First Residence, are organizing the first ever Terry …
Before the qualifiers for the 2010 World Cup began, the fixture said we would play Algeria on Nov. 14 in Cairo. What we didn’t know was whether the game would attract 80,000 people to the stadium or 80. There were five games to be played before the final with Algeria, and no one could say …
This holiday season, the Cairo Marriott Hotel is organizing a number of festivities to help guests celebrate. On Christmas Eve, Christmas Day and New Year’s Eve the hotel will host lunch and dinner buffets at Roy’s Country Kitchen as well as Omar’s Café. Meanwhile, Ristorante Tuscany and the JW’s Steakhouse will serve set menus in …
CAIRO: The American Chamber of Commerce in Egypt (AmCham Egypt) and the United Nations Development Program (UNDP) hosted the first Egyptian Business Summit on Climate Change which took place on Oct. 28 at the Semiramis InterContinental. A number of distinguished international experts took part, with the aim of raising awareness and exposing companies to best …
Lecico Q3 boosted by forex gains Egyptian ceramics company Lecico said third-quarter net profit rose as currency gains helped offset lower sales as tile output was hit by maintenance shutdowns. Net profit in the period was LE 29.5 million ($5.4 million), a 13 percent rise on the same period a year earlier, it said. Lecico, …
CAIRO: British Airways launched on Oct. 27 a new direct flight route from Gatwick to popular Red Sea resort Sharm El-Sheikh. Sharm El-Sheikh route makes a comeback with British Airways. Flying three times a week out of Gatwick to Sharm El-Sheikh the long-haul flight is expected to be a success. British Airways new flight route …
CAIRO: The focus of education sector reforms in recent years has been on developing Egypt as a knowledge economy by integrating IT into the learning process. Cooperation between the Ministry of Education and the Ministry of Communications and Information Technology (MCIT) has yielded several bilateral projects aimed at increasing the technology available in schools and …