Latest in Tag: Daily News Highlight
Latest in Tag: Daily News
Major economies end first quarter on weaker note
Reuters – Major economies in Asia and Europe finished the first quarter on a weaker note, with key manufacturing surveys fuelling expectations policymakers may be forced to act in coming months to prop up faltering growth. Factories across Europe eased back on the throttle in March while China’s vast manufacturing industry contracted for the third …
Explosives cache seized before Afghan elections: Officials
AFP – Afghan police seized 22 tonnes of explosives destined for use in suicide and roadside bombs, officials said Tuesday, four days before elections that Taliban insurgents have vowed to attack. The explosives were uncovered in dozens of plastic-wrapped bags in the northern province of Takhar, as security forces ramp up efforts to protect candidates, …
Assiut power station project receives $106m loan from KFAED
The loan has a 2.5% fixed interest rate to be paid over a period of 24 years
TransCentury sells Rift Valley Railways stake to Egypt’s Citadel
Reuters – Kenya’s TransCentury said on Tuesday that it has sold its 34% stake in Rift Valley Railways (RVR) to Egyptian private equity firm Citadel Capital. Citadel said it bought the shares for $37.8m, raising its stake to 85%. Uganda’s Bomi Holdings owns the rest. RVR, operator of the sole rail line linking Kenya’s Indian …
Ahmed Zewail pledges to continue ‘scientific renaissance’
Nobel Laureate confirms recovery, says “98% of Egyptians” are behind project
Saudi Arabia’s NCB plans capital hike before IPO
Reuters – National Commercial Bank, Saudi Arabia’s biggest bank by assets, plans to boost its capital by SAR 5bn ($1.3bn) through conversion of its retained earnings into capital, it said in an emailed statement on Tuesday. The announcement comes one month after the Saudi government said it planned to float 15% of the state-owned bank …
French, Spanish car sales rally, Chevrolet fades: Trade data
AFP – French car sales picked up strongly in March after a grim year for the industry in 2013, but volumes remained low, trade data showed on Tuesday. The figures showed that French carmakers, including struggling Peugeot, did well, but that sales by General Motors fell heavily reflecting a contested decision to withdraw the Chevrolet …
Egypt bourse rebounds
Reuters – Egypt’s index, which had lost 8% of its value in the previous three sessions, rebounded on Tuesday to close 1.5% higher. The dip was a result of profit-taking by investors who had built up positions in anticipation of former army chief Abdel Fattah Al-Sisi’s run for president. Sisi, who investors hope will stabilise …
Presidential candidates kick off campaigns
Sabahy campaign accuses Al-Sisi supporters of “irregularities”
Four men detained for killing of Al-Dostour journalist
Journalists to strike on Friday
Egypt covers all dollar backlogs for foreign investor repatriations
In a push to restore confidence in the economy, authorities opened a repatriation scheme in March 2013 guaranteeing foreign investors in Egyptian stock and government bond markets access to dollars despite the severe shortages of the US currency.
Jailed Israeli spy could be key to peace talks
A source close to the talks said on Tuesday that there was a proposal which could see Pollard freed before the Jewish holiday of Passover, which begins mid-April.
Election posters adorn Baghdad as campaigning begins
Posters went up around Baghdad and across the country as candidates vie for one of 328 parliamentary seats.
More than 150,000 killed in Syria conflict: NGO
The Syrian Observatory for Human Rights said it had documented the deaths of 150,344 people, 51,212 of them civilians, including nearly 7,985 children.
Britain orders probe into Muslim Brotherhood
The probe could reportedly lead to a ban on the Muslim Brotherhood in Britain, which is already outlawed in Egypt and Saudi Arabia.
Egypt’s Suez Cement Raises Dividend
Reuters – Suez Cement, Egypt’s biggest listed cement maker by market value, will pay a cash dividend of EGP 2.65 ($0.38) per share, it said in a statement published on the bourse on Tuesday. The company, which lists Italcementi Group as its main shareholder, said it would make the payment in two phases. One pound …
Private equity firm Actis reduces stake in Egypt’s CIB
Reuters – Private equity firm Actis has reduced its holding in Commercial International Bank (CIB), Egypt’s biggest listed bank, to 6.5%, CIB said on Monday. CIB said Actis sold a 2.6% stake in the bank “in the open market to a group of international investors”. The shares were sold to Egyptian and other Arab institutions …
Fahmy attends security-related meetings in fourth EU-Africa summit
Catherine Ashton meets with Fahmy to discuss EU-Egypt relations
Turkey’s opposition to contest Ankara local poll result
According to provisional official results, the AKP mayor Melik Gokcek, who has held the post for two decades, won the city by a wafer-thin margin of 44.79% against 43.77% for CHP candidate Mansur Yavas.
Industrial land to be leased on usufruct basis: Ministry of Industry
The lack of a specific land allocation policy hindered the industrial growth and development in Egypt, says Mounir Fakhry Abdel Nour
Saudi Arabia’s Algosaibi calls may creditor meeting: bankers
Reuters – Saudi Arabian conglomerate Ahmad Hamad Algosaibi& Brothers has called a meeting of creditor banks in Dubai on 7 May to discuss a proposed settlement of billions of dollars of unpaid debt, commercial bankers said on Monday. The 2009 collapse of Algosaibi’s Bahrain unit, The International Banking Corp, and Awal Bank, owned by Maan …
AFDB to increase lending programme to Egypt in 2015
African Development Bank says it will continue providing assistance to Egyptian government in the form of loans and grants
Syria rebels lick their wounds in Lebanon border town
Arsal too has suffered violence, including Syrian air strikes, incidents pitting Lebanon’s army against Lebanese and Syrian extremists, and on Saturday a car bomb that killed three soldiers.
Iran director screens film to save man on death row
AFP – An Iranian film director is to hold a private screening of his latest movie on Saturday to raise funds to save the life of a 26-year-old on death row. Mostafa Kiaei, director of “Special Line”, said he had learnt by accident of the young man’s case and wanted to help raise the “blood …
Two shot dead at Al-Azhar as students protest arrests, expulsions
Ministry of Health leaves death toll at one as central security forces enter campus grounds
Door opens for presidential hopefuls to submit candidacies
Ministry of Foreign Affairs prepares polls for Egyptians abroad
Turkey PM claims victory, warns rivals ‘will pay price’
“Those who attacked Turkey got disappointed,” Erdogan told a jubilant crowd of thousands, speaking from the balcony of his party’s Ankara headquarters
Presidential elections to begin 26 May
Door for application of presidential candidates opens Monday
MOI storms Al-Azhar campus to quell protests
One student is dead, one in critical condition: Students Against the Coup
TE expects mobile subscribers to approach 5m in the first year
The unified telecom licence is expected to be activated before 30 June