Latest in Politics Highlight
Latest in Politics
Reforms to slash budget deficit level
CAIRO: More tax revenues and economic reforms will help Egypt s government slash its budget deficit to 2 to 3 percent of gross domestic product in three to four years, the finance minister said on Wednesday. That compares to about 9.3 percent of GDP this year, Youssef Boutros-Ghali also told Reuters in an interview. He …
Telenor has no Africa growth plan after Egypt
OSLO: Norway s largest telecoms group Telenor is not looking to expand into other African countries despite submitting a bid for a mobile license in Egypt, Chief Executive Jon Fredrik Baksaas said on Thursday. Many years ago we gave it a try for South Africa and we were not successful, Baksaas said at a presentation …
Egyptians protest detentions amid tight security
CAIRO: About 100 protesters, vastly outnumbered by riot police, chanted anti-government slogans in central Cairo on Wednesday, two days after the authorities stopped activists holding a similar gathering. Organizers had intended to hold the latest demonstration outside the public prosecutor s office but police ushered the protesters to the nearby journalists syndicate. The demonstration was …
AMOC net profit up 28 percent
CAIRO: Alexandria Mineral Oils Co (AMOC) reported net profit of LE 509.2 million ($88.4 million) for the nine months to March 31, a rise of 28 percent on the same period a year earlier. The oil products company, in which the government sold a 20 percent stake last September, reported its results in a statement …
Twenty-three opposition activists detained
CAIRO: Police on Thursday detained 23 activists from the Muslim Brotherhood who were campaigning against the Emergency Laws, a leader for the opposition Islamist movement told AFP. They were arrested at dawn as they were putting up posters and banners denouncing the renewal of the state of emergency, deputy leader of the Muslim Brotherhood Mohammed …
Emergency Law stifling any hope for change
CAIRO: An interior ministry spokesman and deputy to the ministry claimed in a live TV show on Tuesday that no violations of human or prisoners’ rights occur under the Emergency Law, saying that any incidents of ill-treatment were indeed rare. When faced with written complaints, the deputy simply said that no investigation was launched into …
Living a little girl's dream
CAIRO: A dearly held fantasy of most little girls is to be a beauty queen when they grow up, complete with the jeweled crown, the beautiful dress and the satin sash across the chest, which are all essential details of the fairytale. Fawzeya Mohamed is one of the few little girls who have grown up …
Egypt and Cyprus sign five cooperation deals
CAIRO: Egypt and Cyprus signed five cooperation deals on Thursday, including an agreement on oil and gas prospection, during Cypriot President Tassos Papadopoulos visit to Cairo. The accords, which also cover scientific research, electricity and cultural cooperation, were signed during a ceremony attended by Papadopoulos and Prime Minister Ahmed Nazif, the official MENA news agency …
Showtime reassesses the regional market with new packages and pursues niche sports
CAIRO: The paid television network Showtime recently launched three new packages in response to it s assessment of the regional market. The new packages are based on the company s market research and reflect the diversity of viewer demand for certain channels. Subscribers can select the most appropriate mix of channels based on their preferences …
Telecom Egypt, Telecom Italia to offer joint bid for third mobile license
CAIRO: Telecom Egypt (TE) and Telecom Italia will submit a joint bid for Egypt s third mobile license, TE officials said on Tuesday. Telecom Egypt announced an agreement with Telecom Italia to work together to take part in the tender for the third Egyptian mobile phone license, officials told official news agency MENA. The officials …
Hellenic Petrol wins Egyptian energy acreage
ATHENS: Greek oil company Hellenic Petroleum said on Tuesday it had won a tender to explore for natural gas and oil in Egypt. State-owned Egypt General Petroleum Corporation informed us that the West Obayed area has been awarded to Hellenic Petroleum as the operator, Greece s largest refiner said in a statement. Hellenic Petrolum said …
CIB Q1 2006 net profit up 31 percent
CAIRO: Egypt s biggest private bank, Commercial International Bank, increased its first-quarter net profit 31 percent to LE 187.56 million ($32.56 million), the bank reported on Wednesday. Net profit for the same three-month period last year was LE 142.91 million, CIB said in a newspaper announcement. Provisions fell to LE 39.73 million from LE 81 …
Prominent editor discusses evolution of the Arab world
CAIRO: With unrest spreading throughout the Arab world, many have been attempting to find solutions to the issues presenting themselves on a daily basis. Whether it is politicians, businesspeople or journalists that are playing a significant role, all are hoping to finally bring about change in the region. Speaking on the unrest in the region, …
Four killed in accidental Cairo blast
CAIRO: Four Egyptians were killed and another wounded when a device accidentally exploded Wednesday at a mechanical workshop in the low-income Cairo neighborhood of Imbaba, security sources said. An 18-year-old mechanic, Radi Mahmum Abdul Latif, was using the silver-coated metal device to try to unscrew part of a car when it went off, killing him, …
Interbank rate up at 8.35 percent
CAIRO: The median overnight interbank rate on the pound rose to 8.35 percent on Wednesday from 8.255 percent on Tuesday with a central bank auction drawing some funds from the market, traders said. The auction for 35-day Central Bank of Egypt Notes worth LE 5.7 billion ($1 billion) is not covered by maturing funds. There …
Bird flu back in the spotlight
CAIRO: Egypt reported a new human case of the H5N1 strain of avian influenza Wednesday, bringing to 13 the total number of Egyptians who have been infected by the deadly virus. The health ministry said late Tuesday that the new case was detected in a 27-year-old woman who was infected by poultry from her domestic …
Mubarak says Palestinians need to close ranks
CAIRO: President Hosni Mubarak urged Palestinian factions to unite in a common bloc to resume peace talks with Israel, in an interview published Wednesday. Egypt is engaged in consultations with all Palestinian factions in an attempt to get them to close ranks and speak with one voice, which is something that would confirm the existence …
Britain confirms that 14 countries, including Egypt, warned of Mad Cow disease transfusion danger
LONDON: Britain has warned 14 countries that were recipients of British blood products exported in the 1990s could be at risk of developing the human form of mad cow disease, the Health Protection Agency confirmed Tuesday. Documents obtained through the Freedom of Information Act by The Guardian reveal for the first time which countries received …
Thousands protest on highway against lack of traffic regulations
CAIRO: Thousands of angry Egyptians blocked a highway north of Cairo Wednesday, burning tires and debris, after a speeding car struck a cyclist. The cyclist, Bakri Gomaa, was moderately injured in the incident. Some 5,000 people from the village of Sindarhum, on the outskirts of Cairo swarmed on to highway in protest against motorists who …
Egypt demands St. Louis museum return mummy mask
ST. LOUIS: The Supreme Council of Antiquities has given the Saint Louis Art Museum a May 15 deadline to turn over an ancient burial mask that they believe was taken out of the country illegally. Officials with the museum are evaluating documents from the council that seek to prove the mask, dated from between 1307-1196 …
Run through the desert
WESTERN DESERT, Egypt: An extraordinary run through the Western Desert of Egypt began at the tip of the Quattara Depression and continued into the environs of the Bahareya, Farafra, Dakhla and Kharga Oases from April 21-30, 2006. Fenouil, director of Dakar 1994 and Rallye des Pharaons (1982-1994), was the brains behind the event. The finale …
Doing business with Australia 101
CAIRO: Businesspeople looking for investment opportunities in Australia, trying to locate the most suitable Australian exporters, or simply exploring the option of doing business with the country, gathered together yesterday for a seminar at the Egyptian Businessmen Association (EBA). During the morning event, about 100 representatives of the country s different trade and industrial sectors …
Brotherhood speaks out on renewal of Emergency Laws
CAIRO: Mass arrests targeting Muslim Brotherhood members coupled with the renewal of the Emergency Laws have left Brotherhood leaders angry and speculating on a “conspiracy against Islamists in general and the Brotherhood in particular. “All hopes for reform have totally vanished, declare Muslim Brotherhood leaders on their official Web site, with spokesman Essam Al-Arian vocal …
U.S. "disappointed" by renewal of Emergency Law
WASHINGTON: The United States on Tuesday strongly criticized Egypt s decision to approve a two-year extension of the Emergency Law President Hosni Mubarak slapped on the country 25 years ago after the assassination of his predecessor Anwar Sadat. State Department spokesman Sean McCormack noted that during last year s presidential campaign Mubarak said he was …
Reporters barred from protest as police intervene yet again
CAIRO: Hundreds of riot police once again converged on downtown Cairo, Monday, in order to stem another demonstration, this time organized by the Nasserite Party in connection with Labor Day and labor laws in the country. However, it was also used as a follow up in support of a previous demonstration showing solidarity for two …
Emergency Law hinders human rights work
CAIRO: The threat of unjustified arrests and fear of unilateral legislative powers, among other issues, topped the concerns of human rights activists in the country following the parliament s decision to renew the Emergency Laws. While some say that the laws don t affect their day-to-day work, others have described how this set of controversial …
Dahab bombings death toll rises to 19
CAIRO: The death toll from last week s bombings in Dahab has risen to 19 after an Egyptian died of his injuries, state-owned newspapers reported Tuesday. Ihab Salah Al-Sharqawy, an accountant working in the Sinai region, was wounded in one of the three suicide attacks that rocked the resort on April 24 and died of …
Islamic Jihad team holds talks in Cairo
GAZA CITY: A delegation from Islamic Jihad, the radical Palestinian faction behind the last eight anti-Israeli suicide attacks, is in Cairo for talks with Egyptian officials, Jihad sources said on Tuesday. A delegation arrived last night in Cairo from Damascus (where many Jihad leaders are based) to meet Egyptian officials, Khaled Al-Batsch, one of Jihad …
Investments in tourism industry unfazed by bombings: minister
CAIRO: Investments coming in from Egypt’s tourism industry are still booming despite the recent bombings in Dahab, according to Minister of Tourism Zoheir Garrana. In an interview on Tuesday with Reuter’s news agency, Garrana said that investors are still vying for investment opportunities in large-scale tourism projects in the country. While the minister conceded that …
Boycott vs. dialogue
CAIRO: After protesting relentlessly for months, vociferously declaring a boycott of all Danish products, Muslims are divided over “what to do next. With some Muslims insisting on continuing the economic boycott and refusing to forget their perceived humiliation, others are calling for cultural exchange and dialogue between Danes and Muslims – in particular, youth. Islamic …