Egypt plans to build a 100 MW solar power plant between 2012 and 2017, after its first solar plant starts this year, the Electricity Ministry said on Friday.   Egypt aims to generate 20 percent of its power from renewable sources by 2020. Solar projects have lagged behind wind, but the country’s first solar …

CAIRO: Little known US-based National Instruments (NI) will expand its Egypt operations by opening an office in Cairo by the end of the year, officials said at a conference last week. NI, a high-tech company that provides software and hardware solutions to scientists and engineers in research, development, production and test, and service industries, will …

SAN BRUNO, Calif: YouTube is trying to become as brainless and painless to watch as the boob tube. In the process, the Web’s leading video site hopes to learn enough about its viewers to replace their remote control. Those ambitions came into sharper focus Wednesday with debut of a YouTube format called "Leanback." The feature …

RIYADH: Unnamed Saudi investors seek to buy a stake worth 10 to 15 percent in British Oil Company BP dealing with a massive US oil spill, a Saudi newspaper said in an unsourced report on Wednesday. A delegation of Saudi investors will be heading to London for direct talks with BP, said Al-Eqtisadiyah, the main …

CAIRO: The State Council decided Monday to refer the lawsuit against the building of the Gaza underground barrier to the State Case Authority before rescheduling the next session for Sept. 21. A verdict on the lawsuit, filed by former diplomat Ibrahim Yousri, was expected on Monday’s session but instead the State Council’s Administrative Court decided …

  An exhibition in Switzerland has brought together the genius of modern art contemporaries Pablo Picasso and Paul Klee with an added twist: the first meeting of their two heirs.   Picasso and Klee the elders, among the most influential artists of the 20th century, met only twice. Once when Klee (1879-1940) was among a …

CAIRO: As election season looms, founder of Al-Karama Party and prominent MP Hamdeen Sabahy discussed with Daily News Egypt his thoughts on the People’s Assembly (PA), the upcoming elections, and Egypt’s political scene. How do you see the importance of the upcoming elections given the current Egyptian political scene and high aspirations of the voters? …

DUBAI: Dubai-based investment bank Shuaa Capital named Walid Shihabi, a former head of research at the firm, as the brokerage division’s new chief executive. Shihabi succeeds Mohammed Ali Yasin, whose resignation last week has knocked 7 percent off the share price of the brokerage arm of the United Arab Emirates’ top investment bank. Yasin will …

CAIRO: The growth in economies of the region comprising the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) will gather momentum in 2010, but stay below pre-crisis levels, a recent report said. “The timing of this report and this event is of utmost importance as the world is emerging from the economic crisis,” said Magda …

LONDON: Oil fell below $75 a barrel on Thursday, beginning the second half of the year on a weak note after falling nearly 5 percent in the first half, as signs of slowing economic growth in China fuelled energy demand doubts. The pace of manufacturing growth in the world’s second largest oil consumer slowed in …

KARACHI, Pakistan: Sadly, the recent violence against the Ahmadi community, which left 80 worshippers dead at an Ahmadi mosque in Lahore, is not a new phenomenon. Religious minorities in Pakistan — particularly Ahmadis, Christians, Shia and Hindus — have been increasingly persecuted in Pakistan in recent decades. Their rights are routinely violated on the premise …

  Low cost-carrier Air Arabia will begin services to Beirut, Lebanon, from its third hub in Alexandria starting July 1, according to a statement.   Roundtrip flights to Air Arabia fourth destination from its Egyptian hub will operate four times per week between Burj Al Arab International Airport, Alexandria and Beirut-Rafic Hariri International Airport, Lebanon. …

CAIRO: Egyptian car purchase financer Contact on July 7 is selling LE 470 million ($83 million) in bonds securitizing expected car payments, the chief underwriter said on Monday. The bond, Contact’s sixth since the company entered the market about 10 years ago, consolidates LE 623 million in receivables whose underlying assets are more than 5,000 …

Motown legend Stevie Wonder made sure Glastonbury’s 40th anniversary came to a joyful end on Sunday despite England’s disheartening World Cup football defeat. The American soul pioneer treated the audience at the British music festival to a greatest hits set, with "I Just Called To Say I Love You" and "Superstition" receiving a rapturous response …

BAGHDAD: Oil exports from Iraq’s southern oil hub of Basra partly recovered on Monday to 1.08 million barrels per day after disruption by a sandstorm over the past two days, a shipper said. Exports had fallen to 720,000 barrels per day on Sunday from 1.68 million bpd on Friday as the sandstorm reduced visibility, said …

CAIRO: The case against three human rights activists was adjourned until July 17 on Saturday, after the judge approved defense lawyers’ request for an adjournment. Ahmed Seif El-Islam Hamad and Gamal Eid, directors of the Hisham Mubarak Law Center (HMLC) and Arab Network for Human Rights Information (ANHRI) respectively, have been charged with libel, blackmail …

CAIRO: EFG-Hermes announced Thursday that it had agreed to buy a Jordanian brokerage firm, Tadawol for Securities and Financial Services, for JD 3.85 million ($ 5.4 million). According to Reuters, EFG-Hermes said that it will assume management control of the business, which will be renamed EFG-Hermes Jordan. Waleed El Naasan, CEO of EFG Hermes Jordan, …

CAIRO: The Ministry of Social Solidarity will begin distributing electronic ration cards next week to families with monthly incomes below LE 1,000 and people receiving pensions under LE 750. Sources inside the ministry told Daily News Egypt on Thursday that they are working out the final details with the Ministry of Administrative Development and the …

In Egypt, like in all other developing and developed countries, small and medium enterprises (SMEs) constitute a large proportion of the nation’s economic activity — contributing to over 50 percent of GDP and almost two-thirds of employment. As such, this sector is increasingly being considered as an attractive commercial opportunity for banks. Some banks have …

CAIRO: During her appearance on the talk show “Manchet” with Gaber Al-Qarmouty, Islamic studies scholar, Souad Saleh stirred controversy after she said it is against the Islamic Sharia for a Christian to assume the presidential role in Egypt, seeing as it is a Muslim-majority country. In Saleh’s opinion, Christians should be given the opportunity to …

Movie fans have not outgrown the "Toy Story 3" gang. The animated sequel about toys that come to life leaped to the No. 1 spot with a $109 million opening weekend, according to studio estimates Sunday. "Toy Story 3" became the third animated film to top $100 million in the first weekend, joining "Shrek the …

CAIRO: Telecom Egypt has approved a LE 0.55 ($0.10) interim dividend for 2009, after earlier distributing LE 0.75 pounds, a company source said on Sunday. Although it was distributed in two parts, the dividend matches the LE 1.30 dividend for 2008 and was in line with analysts’ expectations. The company had withheld part of the …

Egypt’s parliament has agreed to restore free zone status to oil refineries, newspapers reported on Wednesday, potentially removing a hurdle that had deterred foreign investment in the country’s energy sector. Egypt’s government had cancelled oil refiners’ free zone status, which gives them tax breaks and other advantages, as part of broader changes to its free …

Little Orphan Annie, the plucky redheaded star of Broadway musical and comic strip fame, has run out of tomorrows — at least in print. The pop culture icon who sang and danced her way to international fame in the Broadway musical that gave us tunes such as "It’s The Hard-Knock Life," and "Tomorrow," ended her …

CAIRO: Tens of Copts demonstrated Sunday in front of parliament, demanding the People’s Assembly pass a unified personal status law for Copts and another regulating the construction of houses of worship. The demonstration, which was organized by the Egyptian Union for Human Rights Organization, featured the participation of 11 groups representing Diaspora Copts from the …

CAIRO: Egypt’s annual urban inflation rate, the most closely watched price indicator, fell to 10.5 percent in May, its lowest level since August and giving the central bank more latitude to keep key interest rates steady. Core annual inflation rose to 6.69 percent in the year to May from 6.62 percent in April, the central …

Over a synth-heavy dance track, Christina Aguilera sings on her new album: "Every day I see myself I love me even more. … Let us not forget who owns the throne." Then, her son Max’s voice pipes up: "You do, Mommy." Does she? Aguilera is returning to music after four years away from stadium tours …

TEHRAN: Iran has sentenced award-winning woman journalist Jila Baniyaghoob to jail for one year and banned her from writing for 30 years over post-election unrest, a newspaper reported on Wednesday. Baniyaghoob, 39, "has been sentenced to one year in jail and banned from journalistic work for 30 years," moderate daily Shargh said. Baniyaghoob, who had …

ABU DHABI: On our program we have a special segment called “Bright Sparks” that features the rising stars of the next generation, those that are coming up with bright ideas that create companies, jobs and fulfill dreams. The flotilla attack not only amounted to another real setback for long term peace, but also a major …