Latest in Politics Highlight
Latest in Politics
The Arab League has failed to "fulfill the hopes and expectations" of Somalia
A perpetual landmine for interventionists, Somalia has witnessed its share of inept approaches. Early in the conflict, the United States precluded any possible mediator role by denigrating the Union of Islamic Courts (UIC) with Al-Qaeda and Taliban rhetoric-a U.S. response familiar to Islamic regimes. The United Nations foiled attempts at negotiating the peace process by …
UN rights body to meet on Lebanon Today
GENEVA: The UN s Human Rights Council will meet in Geneva on Friday at the request of Muslim states to discuss the war in Lebanon and Israel s role there, the world body said on Wednesday. A letter calling for the session presented by Tunisia on behalf of 16 nations said the 47-member body should …
UN Mideast resolution should be accepted by the Lebanese
CAIRO: Any United Nations resolution to end fighting between Israel and Hezbollah guerrillas should call for an immediate cease-fire on both sides and must be accepted by the Lebanese, Egypt s foreign minister said Wednesday. The targeted resolution should be accepted by the Lebanese side, said Foreign Minister Ahmed Aboul Gheit, according to Egypt s …
Artists and performers take an intermission
Entertainment industry insiders rule out war’s effect on summer music market CAIRO: With the escalation of violence in Lebanon, a number of Lebanese artists have moved to Cairo, canceling their concerts and postponing the release of their albums or video clips. This has left many wondering whether the summer, a high season for music releases, …
Heavenly narrator turns book into poignant experience
CAIRO: Summer is a time for fun, the beach, plenty of sunshine, and some summer reading. But this summer, instead of reaching for some light, easy-read novel, pick up some of the bestsellers that have made waves in the literary scene while you were too busy working. The Lovely Bones, the debut novel by Alice …
Egypt stocks dip, profit-taking hits housing sector
CAIRO: A day after hopes for a real estate boom coaxed the market up, Egyptian shares dipped on Wednesday in a volatile market with the housing sector hit by profit-taking, traders said. As long as retail investors stay 80-85 percent of the daily net equity turnover, you would expect such dips, Mohamed Radwan of Delta …
EFG downgrades Arabia Cotton Ginning
CAIRO: Investment bank EFG-Hermes cut its long-term recommendation for Arabia Cotton Ginning to accumulate from buy on Wednesday, saying a share price rally had left the stock overvalued. EFG said it had also reduced its short-term recommendation to neutral from buy . It said its estimated fair value for the stock, often one of the …
Mortgaging wave of the future
Mortgage industry numbers up, but challenges persist The mortgage industry reached LE 514 million ($89.4 million) in contracts as of June 2006, up from LE 15.8 million ($2.7 million) recorded in June 2005, Mortgage Finance Authority (MFA) Chairman Osama Saleh announced Tuesday along with Minister of Investment Mahmoud Moheiddin in a round-table discussion held for …
Wedding Bliss
Police officer found guilty of abusing three judges
Human rights center says further investigation needed to uncover other violations The Sawasya Center for Human Rights and Anti-Discrimination issued a statement earlier this week announcing that a court ruling fined a police officer for abusing three judges in last year s parliamentary elections. Edko District Court fined police officer Mohammed Roshdy from El-Beheira security …
Intel's Core 2 Duo processor launched regionally
CAIRO: If you are still trying to figure out what the Pentium 4 sticker on your notebook means, forget about it; that kind of processor technology is history. The new Core 2 Duo processor is the new replacement with 40 percent better performance and 40 percent more energy efficiency. But does the local market really …
Fitch gives CIB BB+ rating, with 'stable outlook'
CAIRO: Fitch Ratings affirmed yesterday Commercial International Bank s International ratings at Issuer Default BB+ with Stable Outlook and Short-term B . The bank s National ratings are affirmed at Long-term AA(egy) with Stable Outlook and Short-term F1+ . The bank s other ratings are affirmed at Individual C and Support 3 . CIB s …
Museum teaches children to have fun
This summer take a family trip to the first interactive museum CAIRO: If your child is between the ages of 5 and 13 and you are looking for a place where he can learn something new and at the same time have fun, one good place to visit would be the Suzanne Mubarak Children s …
HDB seals tripartite protocol with Misr, NBE to finance national housing scheme
NOOZZ CAIRO: Egyptian Housing and Development Bank will sign a tripartite protocol with the National Bank of Egypt and Banque Misr on financing the national scheme for housing with £2 billion (LE 22 billion). The initiative comes in line with the Egyptian President’s election promises to provide low-income groups with adequate housing. The HDB has …
Real estate pushes up Egyptian stocks
CAIRO: The promise of a real estate boom pushed Egyptian stocks up again on Tuesday but institutions remained highly selective in their buying, brokers said. Four housing companies – Shams Housing and Development, United Housing, Cairo Housing and Medinet Nasr Housing – were among the top 10 gainers because Gulf investors are pushing up land …
Designer birthday
Yet another boycott
Time will tell if calls for a U.S. boycott will find support CAIRO: If you can t buy a bullet for the resistance, don t pay for one for the Jews, reads an Internet advert calling for a boycott on American products as it flashes the logos of many fast food chains and well-known consumer …
Kicking the habit
Tabac Stop Center uses new technique to help smokers give up their habit CAIRO: Earlier this year, Kenza Badawi was desperate to stop smoking after 20 years of addiction. After trying many unsuccessful methods, she flew to a clinic in Geneva called the Tabac Stop Center (a registered company in Geneva) and finally kicked the …
Tok Tok trials and tribulations
The three-wheeled motorcycle may become a regular feature of Cairo traffic CAIRO: Is it a motorcycle? Is it a car? No, it’s a Tok Tok. It’s a motorcycle with three wheels and a cabin for passengers. About two or three people can squeeze in somewhat comfortably and it is one of the latest means of …
E-payments become more convenient for shoppers
New pre-paid cards offer discount rewards at CityStars CAIRO: Aiming to enhance electronic payment in Egypt, the National Bank of Egypt (NBE), in co-operation with Visa International and CityStars, has launched the CityStars Pre-paid Visa Electron card, granting customers a wide variety of special offers and discounts at the mall’s stores. “Customers of the CityStars, …
New holding company to invest $30 bln in transportation infrastructure projects
CAIRO: A consortium of UAE and Bahraini companies has signed an agreement with the Egyptian government to establish a $1 billion (LE 5.74 billion) holding company to upgrade the country s overburdened transportation infrastructure. The primary shareholders in the new company are UAE s Abu Dhabi Investment House (ADIH) and The National Holding Company, and …
Gamal Mubarak joins Egyptian relief aid flight to Lebanon
BEIRUT: An Egyptian military flight arrived in Beirut Tuesday carrying relief aid and 70 officials and public figures-including Secretary General of the National Democratic Party Gamal Mubarak-who joined the trip to express their support for war-torn Lebanon. Egypt s ministers of information, health, and industry and foreign trade; the leaders of several minor opposition parties, …
HDB seals tripartite protocol with Misr, NBE to finance national housing scheme
NOOZZ CAIRO: Egyptian Housing and Development Bank will sign a tripartite protocol with the National Bank of Egypt and Banque Misr on financing the national scheme for housing with £2 billion (LE 22 billion). The initiative comes in line with the Egyptian President’s election promises to provide low-income groups with adequate housing. The HDB has …
Straight talk on the air waves
Radio presenter Ahmad El-Esseily breaks the mold CAIRO: In Egypt, radio presenters are usually nice romantic guys, talking about love and romance in their smooth voices. One announcer, however, has a lot more to offer. Ahmad El-Esseily is famous for his straight talk. Though, he didn t initially set out to follow a career where …
Egypt to protect its quota of Nile water
Meeting to finalize the Nile Basin Initiative postponed to Sept. CAIRO: A meeting scheduled this month to bring together the ministers of water resources from each of the 10 Nile Basin countries to finalize the seven-year-old Nile Basin Initiative (NBI) has been postponed to mid-September. The postponement was agreed upon by member countries because of …
Theater closing
Local news takes a backseat to Lebanon
Al-Gamaa Al-Islamiyya denies ties with Al-Qaeda CAIRO: Egypt-based Islamic group Al-Gamaa Al-Islamiyya said they denounce violence and deny having any connections with Al-Qaeda militants, reports the independent Al-Masry Al-Youm on its front page. In a video message broadcast Saturday by Al-Jazeera network, the terror group’s second in command Ayman Al-Zawahri announced what Al-Qaeda deemed “the …
Egypt condemns Israel's arrest of Palestinian speaker
Associated Press CAIRO: Arab and Islamic officials on Sunday condemned Israel for arresting the Palestinian parliament speaker and called for his immediate release. Egypt, the Arab League and the Organization of the Islamic Conference said the arrest early Sunday of Abdel Aziz Duaik, a member of Hamas, at his West Bank home violated international laws. …
India to triple its investment in Egypt in the next four years
CAIRO: The Embassy of India in Cairo held a press conference yesterday celebrating the 59th anniversary of India’s independence. A. Gopinathan, Indain ambassador to Egypt discussed India’s position on the region’s strained political affairs along with Indian-Egyptian economic relations. Gopinathen emphasized his deep worry regarding the rising tension between Israel and Lebanon reiterating earlier statements …
Egypt Islamist group denies uniting with Al-Qaeda
Reuters CAIRO: One of Egypt s most prominent Islamist groups, which waged a bloody campaign in the 1990s, denied on Sunday it had made any alliance with the global Al-Qaeda militant network led by Osama bin Laden. Meanwhile, a former official in Egypt s Al-Gamaa Al-Islamiya said that even if some members had joined Al-Qaeda, …