Whether it’s the heat-resistant handles on your kitchenware, the knobs on your cooking stove, fans for your washing machine, or even brake shoes for your vehicle, odds are, you use a piece of an MRI product in your everyday life. Mansoura for Resins and Chemical Industries (MRI) produces chemicals and raw material used by other …

REDMOND, Washington: Mohamed Radwan came from Egypt to Microsoft s US campus to show Bill Gates a way software can strip away the stigma of being disabled. Radwan, his sister, Noha, and fellow Cairo college students Tarek Elgaaly and Ahmed Fathallah created computer software that uses artificial intelligence to customize school programs for those with …

SUEZ/CAIRO: A cargo ship temporarily blocked all traffic on the Suez Canal Sunday after running aground halfway along the vital waterway. Traffic was interrupted at 6 am after The Atlantic, a 40,000-ton cargo vessel registered to the Marshall Islands, stopped near the canal port city of Ismailia, said an official at Egypt s Suez Canal …

CAIRO: Egypt has received a refund worth more than $13 million for a “bad shipment of wheat from the United States, Minister of Trade and Industry Rashid Mohammed Rashid said Friday. “Negotiations between the Egyptian Authority for Supply Commodities and the American firm which had sent Egypt a wheat shipment not fit for human consumption …

CAIRO: Egypt’s unbankable poor, low-income families as well as small and medium-sized enterprises (SMEs) are now able to utilize their ingenuity to climb out of poverty and generate more income via microfinance facilities provided under the umbrella of the European Union and the Social Fund for Development. With poverty rates plaguing a significant proportion of …

CAIRO: Unicef signed an agreement with Exxonmobil to donate 60 computers to Unicef s NGO partners, the Youth Association for Population and Development and Maritime Scouts Association, at a conference held at their headquarters in Maadi on Thursday. The computers will be donated to youth centers in seven governorates: Cairo, Alexandria, Assiut, Sohag, Qena, Minya …

CAIRO: Nearly three years after bomb blasts hit Taba, the Hilton Taba is now fully renovated, sporting a new multi-million dollar look and reclaiming its position as Sinai s hottest spot after being closed for almost 25 months. Some rooms and facilities were ready for guests by December 2006, marking the resort s soft opening, …

CAIRO: Egypt’s workforce may soon place a firm foothold on the global map by turning products marked with the “Made in Egypt label into strong selling points. This is the objective of an EU-funded project aims to train and expose the country’s labor to new means by which to upgrade their skills and production lines. …

CAIRO: The first direct and regular airline linking the Egyptian and Uzbek capitals will start operation next Tuesday, announced Atta Bek Merza Mohamedov, deputy director of the Uzbek national carrier s office in Cairo. The maiden flight run by Uzbekistan Airways is scheduled to land at Cairo International Airport next Tuesday at 21:30 Cairo time, …

CAIRO: Emaar Egypt, fully owned subsidiary of the Dubai-based property developer, appointed Sameh Muhtadi as chief executive officer to undertake implementation of the group’s four projects in Egypt, as well as map out new areas for construction and growth, Emaar announced at a press conference Wednesday. “Muhtadi has proven global experience and expertise in delivering …

CAIRO: Major Egyptian shares rose on Thursday, lifted by a rebound in global equities and the heavy-weighted Orascom Telecom as the market digested news it was buying a majority stake in a Pakistani mobile operator, traders said. Pakistan has a huge potential and now OT being a majority shareholder will move the company forward in …

The median overnight interbank rate on Egypt s pound dropped marginally at 8.76 percent on Thursday from 8.766 percent on Wednesday in a liquid market with the absence of certificates of deposit auctions. The market is very liquid with the overnight interbank rate levels remaining at 8.76. The CDs are over already so that s …

CAIRO: Egyptian hotel company Sharm Dreams for Tourism Investment said on Thursday it will offer 6.4 million shares for subscription in late August. Amr Helmi, director of investor relations for Sharm Dreams, said the shares will be available to investors on the Egyptian stock exchange at a nominal value of 10 Egyptian pounds per share. …

CAIRO: A private placement of shares in Egyptian auto company Ghabbour Auto has been seven times oversubscribed two working days before it closes, a stock exchange statement said on Thursday. Brokerage firm Beltone, which is managing the offering, said 25.6 million shares were being offered at LE 37 ($6.50) per share and that people had …

CAIRO: Multinational “science company, DuPont, showcased its latest range of building and construction solutions at the ‘Interbuild’ exhibition, at the Cairo International Convention Centre (CICC) June 21-25. The company operates in a number of sectors ranging from agriculture, nutrition, electronics and communications, to security, transportation and apparel. Its home and construction products however were on …

PLC International and Corinex Communications announced today that they have won the bid for a Powerline based Smart Village in Cairo. The Ministry of Communications and Information Technology (MCIT) chose PLC International Inc. integrating Corinex equipment after two RFP processes and extensive technology evaluation. Phase one comprises of three Buildings interconnected over the Medium Voltage …

CAIRO: The median overnight interbank rate on Egypt s pound was broadly steady at 8.755 percent on Tuesday compared with 8.756 percent on Monday in a liquid market despite a large central bank auction, traders said. The central bank was auctioning 7-day certificates of deposit worth LE 10 billion, but traders said they were replacing …

Egypt Yellow Pages Ltd announced that it has surpassed all revenue and distribution targets for 2007 canvass year. The company announced record financial and distribution results for the 2007 at its annual Kick-Off celebration. Marc Lambert, managing director of Egypt Yellow Pages attributes the company’s success to many factors but primarily to a much more …

CAIRO: Ian Gray, managing director and chief executive officer of Vodafone Egypt, will succeed Mohamed Nosseir in leading Vodafone Egypt starting next September. Nossier expressed his will to step down from chairing Vodafone Egypt’s board of directors after holding his position for nine years – ever since establishment of the company in 1998. Besides his …

CAIRO: The Mortgage Finance Authority (MFA), established in 2001, has seen an increase in the total profit of the mortgage finance market from LE 15 million in 2005 to over several billion in 2007, said Ashraf El Kady, deputy chairman of MFA at a press conference on the fringe of the 14th Inter-Build conference. MFA …

CAIRO: The pre-launch workshop for the Middle East and North Africa (Mena) World Bank Flagship Report centered on three key recommendations presented by Ahmad Galal, Managing Director for the Economic Research Forum yesterday at the Four Season’s Giza. First, and where usual emphasis is placed, the “engineering component would need development, including infrastructure, resources, and …

CAIRO: The Annual World Dental Congress to be held in Dubai next October invited members of the Egyptian dental community to attend a press conference on June 24. Egypt is a very important station in the Arab world . this is the first time FDI (Fédération Dentaire Internationale) holds a conference in the Mena region, …

CAIRO: Despite analysts’ initial skepticism, Egypt’s mobile users have been receptive to 3G services and the number of subscribers is actually on the rise, with Vodafone taking the lead at 800,000 subscribers. “We are very pleased to announce that the number of 3G subscribers has reached 800,000 users, and we will work on further increasing …

CAIRO: Egyptian investment bank Naeem Holding and Saudi-based Siraj Capital Ltd. launched a $500 million company to invest in the hospitality and tourism sector, a statement from the companies said. The new company, Rahala, will hold exclusive rights in Saudi Arabia to Express by Holiday Inn hotels, and planned to invest $200 million in at …

CAIRO: With the ambition of turning Omar Effendi department store into the crown jewel of the entire Egyptian retail sector as it once was, Anwal United Trading Company has shifted gear towards upgrading the store’s outlets. “Our vision is to make Omar Effendi Egypt’s leading department store, second to none, said Jameel Al-Gnaibit, Omar Effendi’s …

CAIRO: Committed to putting a smile on the faces of cheese lovers across the country, Bel Egypt – manufacturer of single-serve cheese portions – opened its second factory in Egypt. The company promised to bring in new products as well as boost production for both local and export markets. “We choose to operate in countries …

CAIRO: Freight forwarder BALtrans has opened a new office in Egypt, named Premier BALtrans Egypt. Being the master franchisee, Premier BALtrans Middle East has been assigned the task of opening offices in 12 countries under the Premier BALtrans brand. “The opening of the Egypt office is another milestone for Premier BALtrans apart from its establishments …

CAIRO: In a bid to provide high quality management training tailored to the local needs, the International Finance Corporation (IFC) signed agreements with six new training providers to deliver the IFC Business Edge training program. The initiative is designed to enhance the performance of small and medium-sized enterprises (SMEs) in Egypt as well as to …

CAIRO: Egypt s benchmark Hermes stock index hit an all-time high on Wednesday led by investment bank EFG-Hermes, which rallied to a one-year high after breaking a key technical price level. Shares in EFG-Hermes, the most heavily traded stock by turnover, closed 5 percent up at LE47.30 ($8.3), the highest since May 21, 2006 according …

Reuters CAIRO: Egyptian mobile operator Mobinil will likely apply for a third-generation (3G) license this year, Chief Executive Alex Shalaby said on Tuesday. My recommendation to the board is that we do this, apply for a 3G license in 2007, he said. Mobinil s long-time competitor Vodafone Egypt acquired a 15-year 3G license for $586 …