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CAIRO, June 14 (Reuters) – The median overnight interbank rate on the Egyptian pound was steady at 8.756 percent on Thursday, the same as Wednesday s rate, in the absence of auctions for certificates of deposit, dealers said. The market has been liquid for quite some time, said one dealer. Most of the banks are …
CAIRO: The Egyptian ambassador in Washington said the last three weeks had not been pleasant because of disagreements between Egypt and the United States over elections, human rights and other issues. It doesn t mean there is a crisis in Egyptian-American relations but we cannot deny that the last three weeks have not been pleasant …
CAIRO: Minister of State for Economic Development Osman Mohamed Osman said on Wednesday inflation fell to 10.5 percent in the 12 months to May from 11.7 percent in the year to April, state news agency MENA said. Osman said the consumer price index fell 0.1 percent in May 2007. In April it had risen 0.3 …
CAIRO: Egyptian shares dipped on Wednesday because retail investors sold off after a decision to remove limits on some share price fluctuations, dealers said. The Capital Market Authority said on Wednesday it was abolishing the limits on single-session price fluctuations for the shares of 45 companies in an attempt to prevent price manipulation. Lifting the …
CAIRO, June 14 – Egyptian shares rebounded on Thursday when investors showed renewed interest in Orascom Telecom (OT), despite the company s decision to abandon its bid for Telecom Italia s stake in Brasil Telecom Participaecoes, dealers said. Orascom Telecom was the second most heavily traded stock, after Suez Cement, because the company was buying …
CAIRO, June 14 – The median overnight interbank rate on the Egyptian pound was steady at 8.756 percent on Thursday, the same as Wednesday s rate, in the absence of auctions for certificates of deposit, dealers said. The market has been liquid for quite some time, said one dealer. Most of the banks are squared, …
CAIRO: Egyptian President Hosni Mubarak has told U.S. President George W. Bush he considers himself too old to carry out political reforms, an Egyptian dissident who met Bush said in an interview published on Wednesday. President Bush told me that President Mubarak claims that age has caught up with him and he is incapable of …
KUALA LUMPUR: Some Muslim countries are ill-prepared to tackle an outbreak of bird flu because of poor resources and public apathy, a World Health Organization (WHO) official said at a meeting of Islamic nations on Wednesday. Health ministers of the 57-nation Organization of the Islamic Conference (OIC) open a two-day meeting in the Malaysian capital …
CAIRO: Ezz Dekheila Steel plans to buy back 136,677 of its shares from the market, the stock exchange said in a statement on Tuesday. The shares, 1 percent of the Egyptian company s total equity, have a market value of about LE 142 million ($24.9 million) at Monday s closing price. The share price was …
Fitch Ratings yesterday affirmed National Bank of Egypt UK s ratings at Issuer Default BB+ , Short-term B , Individual C/D and Support 3 . The Outlook on the Issuer Default rating ( IDR ) is Stable. The IDR, Short-term and Individual ratings reflect NBE UK s strong balance sheet liquidity and solid capitalization, but …
MILAN: Hours before President George W. Bush visited Italy, 26 US citizens went on trial in absentia in Milan on Friday accused of carrying out one of Washington s most controversial policies in its war on terrorism. The US citizens, almost all believed to be CIA agents, have been charged with kidnapping a Muslim known …
CAIRO: Egypt s shares reached new closing highs on Monday led by fertilizer companies including Abou Kir on sector optimism after Dubai-based Abraaj Capital bought Egyptian Fertilizers Company, traders said. The Case 30 Index, a benchmark for major companies listed in Egypt, closed 0.7 percent higher at 7,832.06 points, the highest closing price since Feb. …
CAIRO: The median overnight interbank rate on the Egyptian pound was steady at 8.76 percent on Tuesday compared with 8.763 percent on Monday in the absence of central bank certificates of deposit auctions, dealers said. Liquidity in the market is quite high and that has been the situation for some time, one dealer said. Overnight …
CAIRO: Egyptian police seized over a ton of explosives in central Sinai on Monday, security officials said, adding that they suspected the material had been destined to be smuggled into the Palestinian territories. One official, speaking on condition of anonymity, said that security forces on a routine patrol found the explosives packed in 40 sacks …
CAIRO: Egyptian police arrested a member of the Muslim Brotherhood standing in next week s parliamentary elections, the banned Islamist opposition group and a security official said on Tuesday. Police detained Koleib El-Desouky on Monday night while he was campaigning in the Nile Delta city of Tanta, one security official said, speaking on condition of …
CAIRO: Egyptian investment bank Naeem Holding said on Monday it would increase its capital to $320 million from $240 million in a one-for-three share issue. The new shares would be issued at $1 per share, and the date of record would be announced later, the company said in a statement. The statement gave no further …
CAIRO: Egyptian authorities have released 130 members of Islamic Jihad, including a provincial leader, after they signed pledges of non-violence, security officials said on Monday. The freed prisoners are all members who had been convicted of participating in terrorist and anti-government activity. Many of them had been held without charge after their prison terms expired. …
VATICAN CITY: The Vatican has established diplomatic relations with the United Arab Emirates, it said on Thursday, adding to the list of Arab nations with whom it shares such ties. Although Islam is the official religion in the Middle Eastern country and virtually all its citizens are Muslim, Christians there are allowed practice their faith …
CAIRO: National team defender Ibrahim Said, a member of the African Nations Cup winning side last year, has withdrawn from Sunday s qualifier in Mauritania because of injury. The Turkish-based defender has a stomach muscle strain and must rest for the next 10 days, the Egyptian Football Association said. Striker Mohamed Fadl, called up the …
CAIRO: Egyptian shares rose on Thursday, with foreign buying in market heavyweights Orascom Telecom and Orascom Construction Industries pushing up the indexes, traders said. The Orascoms were all performing very well today, due to foreign interest, said Mohamed Ezz of Delta Securities. Orascom Construction Industries, which on Thursday reported a 53.5 percent rise in its …
CAIRO: Egyptian police have arrested a senior member of a prominent militant Islamist group who was twice sentenced to death in the 90s during a bloody conflict with the government, security sources said on Wednesday. Abd El-Hameed Abou Aqrab, a leader of the military wing of Gama a Al-Islamiya, was detained several days ago in …
Exposure to the radiofrequency fields generated by mobile phones does not cause head pain or increase blood pressure, according to a Norwegian study. Instead, people who experience such symptoms do so because they expect that they will occur, the findings suggest. Dr. Gunnhild Oftedal and associates at the Norway University of Science and Technology in …
Fictional Kazakh television reporter Borat Sagdiyev, who made movie audiences around the world laugh and cringe as he toured the United States, is going into print with a book of travel advice. Borat, the creation of British comedian Sacha Baron Cohen, has signed a book deal with Flying Dolphin Press, an imprint of Random House …
CAIRO: Egypt s Orascom Telecom plans to buy 37.7 million of its own shares in the coming month, the company said in statement on the Egyptian bourse Web site on Tuesday. The statement did not give a reason for the purchase, which would cost about LE 2.8 billion ($492 million) at the current share price. …
DUBAI: Egypt has asked five Greek and Middle Eastern banks to conduct due diligence on Alwatany Bank of Egypt and offer to take over the lender, Dubai-based Al-Bayan daily said on Monday. National Bank of Kuwait, Dubai-based Mashreqbank, National Bank of Greece, Jordan s Arab Bank and EFG Eurobank are on the Egyptian central bank …
KUALA LUMPUR: Malaysian power and gaming group Tanjong Plc agreed on Monday to buy control of another seven power plants in Egypt and Asia for $493 million. Tanjong said its 55-percent-owned unit, Pendekar Energy Ltd, would buy the assets from Britain s CDC Group for cash. Tanjong s share of the purchase price would amount …
CAIRO: Egypt s benchmark Hermes stock index jumped to its highest close in more than 15 months on Sunday as surging markets in the United Arab Emirates boosted confidence among foreign investors, traders said. The Hermes index rose 0.8 percent to 68,274.93 points, its highest since February 2006. The well-watched Case 30 index gained 0.8 …
Worn by Pierce Brosnan as James Bond, actor Gary Cooper, and American property magnate Donald Trump, Italian label Brioni takes the crown when it comes to prestige in men s style, according to a US survey. Brioni was rated the most prestigious luxury men s fashion brand by a narrow margin in the 2007 Luxury …
Market shares rose on Thursday as a rally in the real estate sector resumed on rumors that more land auctions are imminent, brokers said. Heliopolis Housing and Medinet Nasr Housing were the main beneficiaries, both gaining 8.8 percent and last trading at LE 549 ($96.49) and LE 336. One broker cited a report that the …
PARIS: The H5N1 strain of bird flu is infecting ever fewer wild birds, indicating it may be dying out in the wild though not in domestic birds, the World Organisation of Animal Health (OIE) said on Monday. There are different forms of the H5N1 bird flu strain, which appeared in Asia at the end of …
