1462 Articles
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms.
CAIRO: Phone carrier Orascom Telecom said it had expressed interest in a stake in Brasil Telecom held by Telecom Italia. In a statement issued on Friday, Orascom – which is headed by Egyptian businessman Naguib Sawiris – said its interest in the stake was in line with its investment strategy. Shares in Brasil Telecom had …
CAIRO: Egyptian stocks trimmed losses to close higher on Thursday, with Telecom Egypt rising on demand from foreign investors and Ezz Dekheila gaining despite a 15 percent drop in 2006 net profit. Major Egyptian stocks skidded around 3 percent on Wednesday on the back of a global market sell-off but the market recovered in Thursday …
CAIRO: Stocks trimmed losses to close higher on Thursday, with Telecom Egypt rising on demand from foreign investors and Ezz Dekheila gaining despite a 15 percent drop in 2006 net profit. Major Egyptian stocks skidded around 3 percent on Wednesday on the back of a global market sell-off but the market recovered in Thursday s …
CAIRO: A thousand years worth of offerings to an ancient Egyptian jackal god are the subject of an exhibition that opened on Thursday at Cairo s Egyptian Museum. The exhibition, Anubis, Upwawet and Other Deities , is based on votive offerings that British archaeologist Gerald Wainwright found in a tomb built around 1800 or 1900 …
ISMAILIA: Nine Egyptians, including eight engineers working for the multinational peace monitoring force in Egypt s Sinai peninsula, have been killed in a road crash, security sources said on Friday. The sources said the deaths occurred on Thursday night after a truck that was crossing a Sinai road collided with two vehicles including a taxi …
CAIRO: Egypt Kuwait Holding made consolidated net profit of $56.18 million in 2006, 1.7 percent up on 2005, the company said in a statement released through the stock exchange on Thursday. Net profit in 2005 was $55.26 million, it said. Shares in the company, which has diverse holdings in the chemical and fertilizer industries, last …
CAIRO: A Cairo court on Wednesday upheld a freeze on the assets of 29 members of the Muslim Brotherhood, Egypt s largest opposition movement. The public prosecutor ordered the freeze on Jan. 28 after accusing the 29 of money laundering and other offences. The Islamist Brotherhood has dismissed the decision as a politically motivated attempt …
GAZA CITY: Palestinian security officials on Tuesday pulled the body of a Palestinian man out of a tunnel along the Egyptian border that collapsed earlier this week. The nine-meter deep tunnel collapsed on Sunday near the border town of Rafah. Four men were rescued at the time. On Tuesday, the body of a 20-year-old man …
CAIRO: The Egyptian government cut its budget deficit to LE 3.9 billion in the first half of the 2006/7 financial year, Prime Minister Ahmed Nazif told parliament on Tuesday. Nazif also said that the Egyptian economy grew 6.8 percent during the same July-December period. Nazif said last month that the economy had been growing at …
CAIRO: A four-year-old Egyptian girl has caught bird flu after coming in contact with infected domestic poultry, the 23rd case among humans in the North African country, the state news agency Mena said on Tuesday. Sara Sayed Burhan from Nabarouh in the Nile Delta province of Dakahlia is in the Chest Hospital in the provincial …
CAIRO: A Health Ministry official denied on Monday a report by the state news agency that a woman from the Nile Delta had tested positive for the deadly bird flu virus. It s not true, said Amr Qandil, director of communicable diseases at the ministry. I do not know where they got this information.
CAIRO: Egypt s National Societe Generale Bank (NSGB) said on Monday it planned to raise capital by offering existing shareholders two shares for every nine at a subscription price of LE10 pounds a share. The operation would add 45,065,602 million shares, increasing NSGB s capital by LE 450.7 million, it said in a statement released …
CAIRO: An Egyptian appeals court on Tuesday overturned a one-year jail term on newspaper editor Ibrahim Eissa, convicted of defaming President Hosni Mubarak, and substituted a fine of LE 22,500. In his writings in the weekly newspaper Al-Dustour, Eissa had accused Mubarak of selling off state enterprises too cheaply and squandering foreign aid. Eissa s …
HONG KONG: A 107-year-old Hong Kong villager, who still enjoys an occasional smoke, has attributed his longevity in part to decades of sexual abstinence, a newspaper said on Sunday. I don t know why I have lived this long, Chan Chi – one of Hong Kong s oldest people – was quoted as saying in …
CAIRO: Egyptian Agriculture Minister Amin Abaza on Sunday banned imports of ducklings as a precaution against the spread of bird flu, which has killed 13 Egyptians since it hit the country a year ago. An animal disease expert said that ducks had featured in about 95 percent of more than 100 recent outbreaks of the …
TEHRAN: Iran plans a female-only island to boost tourism in a northwest province, the Tehran-e Emrouz newspaper on Wednesday quoted a local official as saying. It will be on the Urumiyeh lake in Western Azerbaijan province, a municipality official identified only as Aghai said. Under Iran s strict Islamic law, mixing with men in public …
CAIRO: Shares ended flat on Thursday with investment bank EFG-Hermes dropping after posting 2006 net income of $123 million, double what it earned in 2005 and in line with market expectations. Shares in EFG-Hermes, popular with retail investors, shed 1.6 percent to end at LE 37.69 ($6.62) after the firm reported that it doubled its …
NEW HAVEN: Kazakhstan s envoy to the United States Tuesday defended his country against misconceptions caused by the hit comedy film Borat and its misogynistic, anti-Semitic, fictional Kazakh TV reporter. Speaking at Yale University, Kanat Saudabayev presented the former Soviet state as a modern nation of well-educated professionals and a major non-OPEC oil exporter. The …
MILAN: Italy is not opposed to foreign ownership of Telecom Italia s network but must not let it fall into the hands of Islamic militants or the Mafia, Infrastructure Minister Antonio Di Pietro said on Monday. Di Pietro s comments came after Pirelli & C and Telefonica said they had held talks about a possible …
CAIRO: Emirates Telecommunications Corp. (Etisalat) is looking to raise LE 10 billion in long-term finance, the company s chairman said on Tuesday. The cash will be used to pay off a bridging facility and shareholder loans, Mohammed Hassan Omran said at a conference in Dubai. Banks are expected to begin syndication in the next few …
CAIRO: Profit-taking pushed Egyptian shares to end down for the first time in four sessions on Monday, but El Sewedy Cables bucked the trend after announcing its expansion plans in Libya. Traders said retail investors had triggered the sell-off to capitalize on the market s bullish run in the last three days. It was mainly …
CAIRO: The median overnight interbank rate on the Egyptian pound was steady at 8.8 percent on Monday in a very quiet market dominated by interest in a central bank auction of 51-day deposits worth LE 4 billion ($702 million) . The average on Sunday was 8.799 percent. Traders said that banks had plenty of liquidity …
CAIRO: Shares rose for the third straight session on Thursday, with Ezz Dekheila gaining nearly 10 percent on unconfirmed reports the company may buy treasury stocks, traders said. Traders said Ezz Dekheila had released an official statement saying it may buy the stock stocks at its next general meeting for shareholders, pushing the price of …
ATHENS: Egyptian businessman Naguib Sawiris is interested in buying the remaining stake he does not already own in Greek telecom Tellas if it comes up for sale, Greek daily Imerisia reported on Thursday. I want all of Tellas, Sawiris was quoted as saying in an interview with Imerisia. Our biggest challenge is to create a …
SYDNEY: The Australian government said on Tuesday it would not ban live sheep exports to Egypt despite new evidence of what it called appalling treatment in that country, but would take the issue up with Egyptian authorities. Animal rights group Animals Australia has given Agriculture Minister Peter McGauran video evidence which it says shows Australian …
CAIRO: Dutch archaeologists have discovered the tomb of the Pharaoh Akhenaten s seal bearer, decorated with paintings including scenes of monkeys picking and eating fruit, Egyptian antiquities officials said on Wednesday. The tomb belonged to the official named Ptahemwi and was discovered during a Dutch team s excavation in the Sakkara area, the burial ground …
CAIRO: Shares rose across the board on Wednesday, with strong interest from foreign investors in construction and telecom shares such as regional telecoms giant Orascom Telecom. There is a general positive sentiment in the market, said Ahmed El-Hifnauy of EFG-Hermes. What is very interesting is that retail and Arab Gulf investors are net sellers, and …
CAIRO: The median overnight interbank rate on Egypt s pound edged down fractionally to 8.805 percent on Thursday from 8.812 percent on Wednesday as many banks steered clear of central bank deposit auctions, traders said. They said rates were depressed in the absence of auctions for certificates of deposit, and that traders were still unenthusiastic …
CAIRO: Groups of Egyptian Muslims set fire to Christian-owned shops in southern Egypt after hearing rumors of a love affair between a Muslim woman and a Coptic Christian man, security sources and a witness said on Tuesday. Eight Muslim men were arrested in the town of Armant, around 600 km south of Cairo, on suspicion …
CAIRO: Orascom Construction Industries said on Monday its new steel fabrication plant in Algeria with capacity of 12,000 tons annually would start production this month. The new plant, which cost $18 million, will raise OCI s overall annual steel fabrication capacity to 67,000 tons, the company said. OCI said in a statement the new plant …
