Latest in Politics Highlight
Latest in Politics
Gulf group offers to take over Egyptian bank
Consortium looks to acquire Delta International Bank Reuters CAIRO: Bahrain s Ahli United Bank and four other Gulf companies have offered to buy Delta International Bank for LE 1.85 billion ($322 million). The offer, at LE 37 a share, is at a premium over the last traded price of LE 35.45 on July 27. Ahli …
Electronic payment remains modest despite growth in credit cards
Visa executive says credit bureau crucial component of promoting alternatives to cash CAIRO: Every so often one bank announces that its number of credit cards has reached a record high while another bank launches a new line of specialist cards. This flurry of activity to promote plastic money is a sign of the potential gain …
Artists take center stage on the political scene
Writers and Artists for Change express Arab popular sentiments On Wednesday, Aug. 2 the Writers and Artists for Change Movement celebrated its first anniversary by planning a more intensive street presence to show solidarity with the Lebanese people and the Lebanese resistance. United by a belief in freedom of expression and democracy, the movement was …
MB leader says ready to send fighters to Lebanon
CAIRO: The leader of the Muslim Brotherhood said Thursday he was ready to send 10,000 fighters to Lebanon to combat Israel alongside Hezbollah. I am ready to send immediately 10,000 mujahadin to fight the Zionists alongside Hezbollah, Supreme Guide Mohammed Mehdi Akef told AFP. He admitted, though, that the chances were more than slim that …
Word on the street
Commuters are not pleased with hike in metro fares CAIRO: Friday, July 21 was a shock for anybody in the country who drives because of the overnight raise in the gasoline prices. But this shock also extended to ordinary people who use the metro in their daily trips. The increased prices of the metro tickets …
Muslim nations warn of potential surge in radicalism
PUTRAJAYA, Malaysia: The Islamic world s biggest bloc on Thursday demanded an immediate cease-fire between Israel and Hezbollah, as Iran s hard-line president called for the obliteration of the Jewish state. Key leaders in the 56-nation Organization of the Islamic Conference (OIC), including Egypt, Saudi Arabia, and Lebanon, warned that Israel s warfare would stoke …
Pacha at the North Coast
ŠΘ # # # Many of Egypt’s party crowd rushed to the new venue to enjoy the opening of the club, here, Vivian El Fiki and Mohab Makmoun # # Lucy Artit, Hanan El Sirag and Hisham Mazhar
Imprisoned politician Nour to have heart stents
CAIRO: Imprisoned opposition politician Ayman Nour is scheduled to go into hospital on Saturday to have stents inserted in his arteries, his wife said on Thursday. It will take them about 48 hours to prepare him for the procedure and they will keep him in hospital for four to five days, Gameela Ismail told Reuters. …
Legislating the Brotherhood out of existence
Group claims that recent government legislation is directed at obliterating them CAIRO: After winning 88 seats in the 2005 parliamentary elections, the Muslim Brotherhood has become the single largest opposition bloc in parliament. Despite their recent success however, the Muslim Brotherhood hasn’t been allowed to become a licensed political party. Instead, they currently operate as …
Companies will be able to make a graceful exit
GAFI ready to announce amendments to the currently complex bankruptcy procedures CAIRO: As part of the national financial banking reform program undertaken by the Egyptian government with the help of the private sector and international organizations, the General Authority for Free Zones and Investment (GAFI) is on the brink of announcing a set of new …
Stance towards international community in question
Many critical of Egypt’s position, but few solutions suggested CAIRO: The Israeli-Hezbollah conflict continues to dominate the news and consequently editorials. Articles are covering numerous angles. These are from critics of the US, Israel and Europe, as well as those channeling their censure towards regional leaders including the Egyptian government. The Qana massacre and its …
Voice of Lebanon sings again
Nadina returns to Cairo to film a music video clip CAIRO: Seven-year-old Nadine Zarifeh stood on a stage sang her heart out, moving 25 million viewers worldwide by her performance. The Lebanese girl was the first Arab to participate in the Zecchino d Oro festival held by UNICEF in Rome, 1986 and she crowned her …
Building a better future
Plan to boost construction exports to $7.5 bn by 2008 CAIRO: The government is poised to provide more support to the construction and building industry to increase the industry’s annual turnover to $25 billion (LE 145 billion) by 2008. Haytham Diab, the executive director of the Export Promotion Center, said the center’s main job over …
'Shaabola' sings out again
Crass singer capitalizes on Lebanese crisis CAIRO: During times of hardship, you can count on one Egyptian crooner to capitalize on the unrest in the Middle East. For this singer, the current Israeli attack on Lebanon is just one in a long list of atrocities to make use of. If you’re not familiar with the …
Arab identity all 'rapped' up
The Arabian Knightz band use Hip-Hop to express their views CAIRO: Karim Adel Ali Eissa, aka “A-Rush , and his band, the Arabian Knightz, are ready to make a scene. Their banner song, “Stand Up, says it all: with an addictive Hip-Hop beat and English verses dramatically punctuated with fervent rapping in Arabic, they call …
CBE names shortlist for Bank of Alexandria sale
CAIRO: The government said on Wednesday it had short-listed six candidates to buy a 75-80 percent stake in the state-owned Bank of Alexandria, and will allow them to carry out due diligence checks on the business. The central bank said in a joint statement with the investment ministry that it would take final financial and …
Outpouring of private aid for war-torn Lebanon
NGOs, private corporations organize donation campaigns and transportation to Lebanon CAIRO: With the continuous escalation of violence in Lebanon and mounting frustration with official Arab responses to the Israeli aggression, civil society has decided to act on its own. By the second week of the war on Lebanon, reports indicated that the contributions of Arab …
Miss Beach
ŠΘ # # # The judges included musician Helmy Bakr, actress Hala Sidki, and writer Ikbal Baraka, here, Samo Zein and Nahla Zaki # # Photography by Hassan IbrahimThe winner was the beautiful Alexandrian Nahla Zaki. Guest of honor was singer Samo Zein who put on a great performance, here are the girls during …
Children exhibit their artistic expression
Rasha Soliman develops her students self-confidence through art CAIRO: As you enter the underground room at the Gezira Arts Center, you find yourself surrounded by an atmosphere that exudes liveliness, joy and creativity. Children are gathered around painting and sculpturing with their tiny hands, while Rasha Soliman supervises them with care. Soliman, who was always …
Germany: Mideast Quartet to help address Lebanon crisis
Egypt named as Arab candidate to be associated with Quartet Associated Press BERLIN: Germany suggested yesterday that the so-called Quartet of Middle East negotiators, be reactivated with help from Arab nations to address the current fighting in Lebanon. The Quartet – the United States, the European Union, Russia and the United Nations – drafted the …
Weapons of War: Open Season on Journalists in the Middle East
After the carnage of this past weekend, they would seem to fade almost into insignificance – and that’s understandable, but they bear noting. The Israeli destruction of TV transmission towers in Lebanon and an attack on a media convoy in south Lebanon are emblematic of a grim fact: the media have become targets – and …
Egypt hopes UN will call for Lebanon ceasefire in 48 hours
BEIRUT: Foreign Minister Ahmed Abul-Gheit expressed hope Wednesday that the United Nations Security Council would issue an appeal for a ceasefire between Israel and Hezbollah within the next 48 hours. I hope that in the next 48 hours there will be an appeal from the UN Security Council for a ceasefire. This is an Arab, …
Loan expected to support reform
ADB continues participation in development CAIRO: Egypt has been awarded a loan of $500 million (LE 4.2 billion) from the African Development Bank (ADB), which will be used to support the country s structural and financial reform program, also known as the Financial Sector Reform Program. The program, launched in September 2006, constitutes part of …
Insurance holding company established
Move may be precursor to privatization CAIRO: President Hosni Mubarak issued a decree yesterday to form a holding company for insurance, bringing the four main public insurance firms as well as the country s only reinsurance company under the Ministry of Investment s asset management program. The newly-formed entity complements the nine other holding companies …
Egypt Invest 2006 will look at implementation, impact of investment
CAIRO: While there is no denying the success that Egypt has been enjoying in attracting foreign direct investment (FDI) into the country over the past two years, it is also understood that to continue with this upward curve that more investors, and more investment, has to be encouraged through making new opportunities available in many …
Misr Clearance to launch capital market financial information company
NOOZZ CAIRO: Misr Company for Settlement, Clearance and Central Depository (MSCD) signed evening a new contract with Atos-Euronext Company earlier this week to set up a new financial information operation for the first time in Egypt to provide its services to local security brokerage companies and banks. Hany Seri-Eddin, chairman of the Capital Market Authority, …
Pirates makes another large splash
Sequel offers audiences a couple of hours of waterlogged fun CAIRO: For many centuries people have been fascinated by fictional adventure tales about legendary pirates like Sinbad and Long John Silver. In 2003, someone brilliant at Disney decided to make their most popular ride, Pirates of the Caribbean into a film of the same title. …
Public banks to receive $1 billion capital increase
CAIRO: Having recently been downgraded by the ratings agency Moody s, National Bank of Egypt (NBE) will share a capital injection of $1 billion (LE 5.7 billion) with the Banque Misr. Central Bank of Egypt Deputy Governor Tariq Amer announced the capital increase of the nation s two largest banks without specifying the proportion of …
MobiNil says defers applying for 3G license
CAIRO: Egyptian mobile phone service operator MobiNil said on Monday it would defer making a decision on whether to apply for a license for higher-bandwidth 3G technology for a year because conditions were unattractive . At this point the board has elected not to pursue such an endeavor, Chief Executive Alex Shalaby told analysts in …
Blissful night
ŠΘ # # # The beautiful wedding at the JW Marriot was attended by many ministers, businesspeople and celebrities, here, Mr. and Mrs. Sameh Fahmy (Minister of Petroleum) with his daughter Samar and her daughter Hana # # Hanan Tourk, Khaled Khatab, the couple and Mohammed Hamaky