Latest in Politics Highlight
Latest in Politics
Rice meets with democracy activists, adviser to top Islamic cleric
CAIRO: U.S. Secretary of State Condoleezza Rice met with democracy activists Wednesday as she continued a Mideast trip complicated by disagreements over the militant group Hamas. For the first time, Rice also planned to meet with an adviser to the sheik of Al-Azhar mosque, in an apparent attempt to bridge gaps exposed by the controversy …
Government to spend LE 1 billion on bad loans to small and medium businesses
CAIRO: Minister of Finance Youssef Boutros-Ghali announced that the government has earmarked LE 1 billion for non-performing loans of small and medium sized businesses. Speaking at a meeting of the American Chamber of Commerce in Egypt, Boutros-Ghali says that his ministry, in coordination with the central bank and the Ministry of Trade and Industry, are …
Bird flu hits Egypt's multi-billion-dollar poultry industry
CAIRO: The sudden outbreak of avian influenza in Egypt has dealt a huge blow to the poultry industry, in a country which consumes 800 million birds a year and exports to the entire region. The destruction of flocks and transport restrictions imposed by the authorities to stem the spread of the disease are costing the …
Lebanon's BLOM eyes retail in its new Egypt market
CAIRO: Lebanese bank BLOM plans to double the number of branches at its newly acquired Egyptian operation to 16 in 2006, part of a plan to expand the retail business, a senior executive said on Tuesday. BLOM, Lebanon s biggest bank, bought Egypt s Misr Romanian Bank in a deal worth about $97.8 million in …
Egypt heads large entry for African Nations Cup draw
CAIRO: Defending champions Egypt head a 47-country entry for the 2008 African Nations Cup qualifying competition draw to be made here today. Until two years ago, title holders were automatic entrants for the biennial tournament won by hosts Egypt for a record fifth time two weeks ago after a penalty shootout against Ivory Coast. But …
Omar Effendi for sale
CAIRO: Minister of Investment Mahmoud Mohieddin announced last Monday that the employees of Omar Effendi, Egypt’s largest state-owned department store chain, with more than 80 outlets, will retain their company benefits after the company is sold as part of the government’s asset management program to privatize retail department stores. In a meeting with the Minister …
Citing irregularities, rights activists appeal for Nour retrial
CAIRO: Human rights activists are appealing to judicial authorities for a retrial of opposition MP Ayman Nour due to irregularities in the initial investigation and trial. “A retrial should be carried out as quickly as possible, said Bahieddine Hassan, head of the Cairo Institute of Human Rights Studies, in order to address the serious legal …
More glory beckons for Egypt as Al-Ahly eye African Super Cup
CAIRO: More international football glory beckons for Egypt just two weeks after winning the African Cup of Nations. Local club Al-Ahly host FAR Rabat of Morocco Friday in the annual, one-off African Super Cup match between the holders of the African Champions League and the African Confederation Cup. The appealing fixture will be staged at …
U.S. Middle East policy: Between Iraq and the hard guys
This week’s visit to the region by Secretary of State Condoleezza Rice brings with it another reminder that U.S. Middle East policy is firmly wedged between Iraq and the hard guys. There were never any easy answers to the Middle East morass. Washington’s drunken lurching in search of exactly that has only made matters worse. …
Opposition leader seeks nuclear reactors
CAIRO: Imprisoned opposition leader Ayman Nour asked U.S. Secretary of State Condoleezza Rice on Wednesday to look into whether Egypt can benefit from a U.S. offer to help developing countries develop nuclear energy. Nour, President Hosni Mubarak s main rival in presidential elections last year, is serving a five-year sentence for forgery but says the …
Twenty-nine Egyptians test negative for bird flu after showing symptoms of disease, health minister says
CAIRO: The health minister on Monday said that 29 people who had shown symptoms of bird flu after coming in contact with dead birds had tested negative for the disease. Hatem Mustafa Al-Gabaly told a ministerial committee, which included the ministers of agriculture and environment and officials from the information and interior ministries, that the …
Second Algerian fixed-line network to start up Thursday
ALGIERS: Egypt-based Orascom Telecom (OT) and Telecom Egypt will start operating Algeria s second fixed-line telephone network this week, officials said on Monday. State-owned Algerie Telecom, currently the sole fixed-line operator with some 3.2 million subscribers, is struggling to meet rising demand in the North African country of 33 million. OT, which already operates the …
Bird flu rumor sparks nationwide panic
CAIRO: Approximately two hours after a rumor that bird flu was found in the Nile River raged through the country, Metro supermarkets throughout Cairo ran out of water. The rumor, which sparked a national frenzy, was leaked through a number of media and telecommunication outlets; namely, Sabah Al Kheir Ya Masr, a radio station, El …
Egypt offers 17 pct of aluminum firm for sale
CAIRO: The Egyptian government said on Tuesday it was offering 17 percent of Egypt Aluminum at a minimum of LE 54 ($9.42) a share, giving the company a value of at least LE 6.75 billion. The offer is split into 8.75 million shares, or 7 percent of the company, by public subscription, and 12.5 million …
Poultry businesses brace for damage
CAIRO: As panic spreads about the arrival of bird flu, Egyptian poultry companies are scrambling to deal with the crisis. The poultry business was already affected prior to the government s announcement of the first cases of the virus last week. According to the Ministry of Agriculture, consumption of poultry had declined by 60 percent …
Median o/n interbank edges up to 8.4 pct
CAIRO: The median overnight interbank rate on the Egyptian pound edged up in quiet trade to 8.4 percent on Tuesday from Monday s average of 8.318 percent as traders awaited the result of a central bank auction of 7-day notes, dealers said. The central bank offered notes worth LE 7.1 billion ($1.2 billion). Traders said …
Female Entrepreneur
CAIRO: For the simple reason that they are young, many men and women are not taken seriously in their careers. Yasmine Shihata, the editor and co-founder of Enigma magazine, has more than one story to illustrate that point, but she also credits her young age – early twenties – for preparing her to take more …
Egyptian rights groups support judges' call to reform the legal system, ensure judges' independence
CAIRO: Twenty-three Egyptian human rights and civil society groups expressed support Monday of liberal judges who have called for legal reforms, including legislation that would make the judiciary completely independent of the government. “The groups express their full solidarity with Egypt s judges, who are calling for a new law that protects and consolidates the …
Sunken ferry's black box recovered
CAIRO: The black box from an Egyptian ferry that sank in the Red Sea leaving some 1,000 people dead was recovered Tuesday, Transport Minister Mohammed Mansour announced. “Two experts, from France and Great Britain, belonging to the International Maritime Organization, located the black box and brought it back to the surface, the minister was quoted …
Police arrest 15 people after Muslim-Christian clashes in Egyptian village
CAIRO: Police have arrested 15 people after clashes between Muslims and Christians in a village south of the capital, police officials said Tuesday. Police cordoned off Ezzbat Wassif on Tuesday and mounted patrols in the village, searching for people involved in Monday s fighting as well as ensuring calm, the officials said, speaking on condition …
Report cites technical failure in Egypt Boeing crash
CAIRO: The final report on the crash of a Flash Airlines plane carrying French tourists two years ago off the coast of Egypt cites a failure in the automatic pilot and guiding system, the official MENA news agency said Monday. “The report points to faults in the automatic pilot and guiding system. There was not …
Hundreds of Egyptians gather in protest
CAIRO: A few hundred Egyptians, waving the bright yellow or orange banners of their opposition movements, gathered on the grounds of Cairo University on Tuesday to rally against a range of topics. Members of the Kefaya, or Enough, movement protested alongside the opposition El-Ghad Party, taking advantage of the day that marks both International Student …
Painting Cairo's soul
CAIRO: It’s a given that some people are harder to track down for an interview than others. After taking a few days to secure an interview with renowned artist Gazbia Sirry, and finally arriving at the fixed time, I must say that I was slightly overwhelmed. The artist, born in 1929, has an unbelievable presence, …
Egyptian papers blast Rice shortly before yesterday's talks
CAIRO: Shortly before she arrived in Cairo for talks with President Hosni Mubarak on key Middle East issues including regional political reform, Egyptian newspapers blasted the United States for meddling in the country s internal affairs. In two days of diplomatic shuttling in the region, U.S. Secretary of State Condoleezza Rice was expected to ask …
Rice urges Egypt to act as regional mediator
CAIRO: U.S. Secretary of State Condoleezza Rice holds a second day of talks with Egyptian dignitaries today as part of her tour urging Middle East allies to stand strong against Hamas and Iran. Rice is scheduled to meet with President Hosni Mubarak as well as a number of Egyptian intellectuals this morning, before departing for …
Bird flu continues to spread in Egypt, hitting poultry trade
CAIRO: Bird flu has spread to new parts of Egypt, adding to the devastation in a poultry industry which provided almost 50 percent of the animal protein consumed by Egyptians, officials said on Monday. Health Minister Hatem El-Gabali said cases of the disease had turned up in Minufia, Sharkia and Kafr El-Sheikh provinces in the …
Ezz Steel helps lift stock market
CAIRO: Shares in Ezz Steel Rebars climbed more than 5 percent on Monday, helping boost the Egyptian bourse overall with news that the company planned to increase its stake in another steel firm, traders said. Ezz Steel is planning to raise its holding in Alexandria Iron and Steel to 50.86 percent from 21.48 percent, via …
Timing is off for FTA
CAIRO: U.S. Secretary of State Condoleezza Rice, ahead of her four-day diplomatic tour to Egypt, Saudi Arabia and the United Arab Emirates, said now is not the time for the United States to negotiate a free trade agreement with Egypt. Rice was quick to add, however, that the decision is in no way meant to …
Defiant judges charged with "defamation"
CAIRO: Human rights groups condemned a recent decision by the Higher Judiciary Council to strip three members of the Egyptian Judge s Club of their right to judicial immunity for calling attention to voting irregularities during recent elections. “This kind of behavior goes in line with the government s insistence to use the public prosecutor …
Economic reform among issues discussed between World Bank and Ministry of Investment
CAIRO: Following a meeting held between World Bank President Paul Wolfowitz and Egyptian Minister of Investment Mahmoud Mohieddin, Wolfowitz announced that the bank will continue supporting Egypt’s reform programs. In the meeting both men discussed economic reform in Egypt and gender issues, in addition to reviewing ongoing cooperative projects between the country and the bank, …