CAIRO: Seeking to enhance bilateral trade and investment between India and Egypt, the Embassy of India announced on Friday Egypt’s first “Made in India Show. Due to be held in Cairo in late November 2007, the show, organized in cooperation with the Confederation of Indian Industry (CII), will project achievements of the Indian industry over …

Egyptian and Gulf real estate firms bought three large tracts of land near Cairo on Saturday earmarked for housing development, netting LE 13.3 billion ($2.3 billion) for the government, officials said. Housing Ministry officials said that Qatar s Barwa Real Estate Co. bought 1,980 feddans (7.92 million square meters) of land in New Cairo on …

“Get it done quickly and get out. That, says a senior US diplomat in Addis Ababa, was the goal of the little-noticed war that Ethiopia has been fighting, with American support, against Islamic extremists in Somalia. But this in-and-out strategy encounters the same real-world obstacles that America is facing in Iraq and Afghanistan. Conflict is …

Egypt has been negotiating with Russia for the procurement of the advanced MiG-29 fighter-jet, according to recent news reports. Russian industry sources told reporters that Egypt has examined the MiG-29SMT fighter. The sources said SMT, an upgraded version of the MiG-29, has been offered at a sharply reduced price as part of a Russian effort …

CAIRO : Egyptian Finance Minister Youssef Boutros Ghali was upbeat last night about the performance of the economy with an anticipated growth rate of up to seven percent by the end of this year. He also defended a new draft law on real estate tax. Addressing the Club d Affaires Franco-Egyptien at a dinner at …

The Suez Canal garnered the highest monthly revenue in April at $365.5 million after Egypt raised transit fees by an average of 2.84 percent as of April 1, the MENA news agency reported on Saturday. A total of 1,657 vessels passed through the international waterway in April, Ahmed Fadel, head of the Suez Canal Authority, …

CAIRO: Egyptian stocks edged up on Sunday, with high turnover in the real estate sector helping the market recover some end-of-week losses suffered during a correction following a boom in the sector, trader said. On Saturday, Egyptian and Gulf real estate firms bought three large tracts of land near Cairo for LE 13.3 billion, but …

CAIRO: The median overnight interbank rate on Egypt s pound was nearly unchanged at 8.76 percent on Sunday from Thursday s 8.763 percent, with the market liquid in the absence of large government auctions, dealers said. They said a decision by the central bank on Friday to keep its overnight corridor rates unchanged at 8.75 …

CAIRO: Egypt on Sunday denied there were any plans to build a causeway linking Saudi Arabia to Sharm El-Sheikh, saying such a project would be bad for tourism in the popular the Red Sea resort. On May 3, the Saudi English-language daily Arab News reported that the construction of a three-billion-dollar causeway linking the Saudi …

Commercial International Bank (CIB), one of Egypt s top private banks, said on Sunday its net profit in the first quarter of 2007 rose 42 percent to LE 266 million ($46.8 million.) CIB said in a statement net interest income was LE 255 million, compared with LE 215 million in the same period a year …

Holders of Chinese UnionPay banking cards will be able to pay for their shopping, dining, travel and medical bills and draw cash in local currency in Egypt in June, said a senior executive of the National Bank of Egypt (NBE), according to reports by the Chinese news agency Xinhua. Yasser El Negouly, chief representative of …

Italian oil company Eni intends to invest $12 billion in natural gas operations in Egypt over the next five years, the Egyptian Ministry of Oil said in a statement on Thursday. Eni, which is already the largest oil and gas producer in Egypt, also intends to access an extra 180 million barrels of oil reserves …

CAIRO: The Ministry of Social Solidarity and the Social Fund for Development are in the process of creating a new system to enhance the government’s subsidized bread quality and its distribution services. The government provides subsidized bread to citizens who hold ration cards. The Social Fund for Development will offer small loans to unemployed youngsters …

Tourists arrivals from Bahrain to Egypt have been growing rapidly in the last few years, according to Egyptian Tourism Authority (ETA) chairman Amr El Ezabi, according to reports by the Bahraini paper The Gulf Daily News. He stated overall, the number of tourists from the Gulf and the Middle East increased by 12.9 percent last …

CAIRO: Secretary General of the Council for Arab Economic Unity (CAEU) Ahmed Goueli announced at the People’s Assembly last week that inter-Arab trade in 2006 reached $85 billion, similar to 2005 estimates. The figure represents approximately 11 percent of total trade, a modest boost from the 8 percent recorded in past years, though oil trade …

Stocks slipped back on Thursday, with the housing and real estate sector hit hardest after a rally which began two weeks ago. The main indexes dropped between 0.5 and 0.7 percent in what brokers said was a natural correction to the recent boom. Institutions had to trim their holdings to maintain the balance in their …

CAIRO: Starting this week, streets and television channels across the country will be flooded with banners and advertisements in bright red, as Vodafone Egypt finally launched its 3G Broadband services on Friday, on the heels of Etisalat into the third generation (3G) arena. “3G Broadband takes mobile services to a very high level of speed …

GENEVA: The World Economic Forum s annual Middle East meeting of business and political leaders will take place in Egypt next year and will alternate subsequently with Jordan, the organization said Thursday. This year s regional meeting is due to assemble Middle Eastern and world leaders by the shores of the Dead Sea in Jordan …

CAIRO: An Egyptian delegation headed by Minister of Trade and Industry Rachid Mohamed Rachid returned Wednesday from Kazakhstan where numerous trade issues aiming to increase investment opportunities between the two nations were discussed. Coming on the back of a November agreement to source $225 million worth of wheat from Kazakhstan, which boosted trade volume between …

CAIRO: A Czech trade mission headed by Mr. David Gladis, deputy foreign minister for economic affairs, will pay a five-day working visit to Egypt starting next Saturday. This visit [is] a new a challenge to enhance the existing level of bilateral trade links between Egypt and the Czech Republic, commented Czech Ambassador in Cairo Mr. …

CAIRO: To “e or not to “be at all? That has become the ultimate question in Egypt now, as different institutions, corporations, and banks come under increasing pressure to convert to the more secure chip-based cards or else prepare to move into obsolescence in the quickly transforming e-society. Coming at a time when Egypt is …

Intel VP John Davies visits Bortos School in Oseem as part of Intel World Ahead Program CAIRO: Providing access to educational opportunities through technology is a key component of the Intel World Ahead Program, and no where is this more evident than in Bortos School in the village of Oseem on the outskirts of Giza. …

HURGHADA: As part of the USAID project “While in Egypt Stay Connected and in collaboration with the Ministry of Tourism and the Egyptian Hotel Association, the Hotel Information Program’s tour of seven Egyptian tourist areas comes to Hurghada. Hurghada’s top three, four, and five-star hotel operators attended the Hurghada stop of the Hotel Information Program …

CAIRO: From upgrading its flight services to joining the renowned Star Alliance group to venturing into an IPO, the sky is indeed the limit for the national carrier EgyptAir. Amid celebrating its Diamond Jubilee (75th Anniversary) on Monday, EgyptAir requested that its passengers buckle up in preparation for the launch of its new mid-range planes …

CAIRO: Heliopolis Housing net profit rose 41 percent to LE 104.8 million ($18.4 million) in the first nine months of its 2006/7 financial year, the stock exchange said on Tuesday. The financial year started on July 1, 2006. Net profit in the same period of 2005/6 was LE 74.3 million, the exchange said in a …

HEAD: The construction of a bridge between Egypt and Saudi Arabia will start next week, reported the State Information Service. The 50 km bridge will cost $3 billion. The construction work is expected to take up to three years to be completed. A Saudi source said King Abdullah Bin Abdel Aziz is expected to lay …

CAIRO: Egypt s main stock indexes each gained more than a percent on Sunday as housing stocks led by Medinet Nasr Housing soared amid speculation land prices would rise at an upcoming auction, traders said. It s just the housing sector in general. There has been a lot of buying power across the board and …

CAIRO: Egypt s El Sewedy Cables, one of the biggest cable manufacturers in the Middle East, has bought an Egyptian firm with a 10-year tax exemption for power cable production for an undisclosed price, El Sewedy said on Monday. The purchase of Al Wataniya, which has not begun production, includes a 47,000 square metre plot …

FRANKFURT: Egyptian tourism entrepreneur Hamed El Chiaty has upped his stake in TUI to 4 percent, the German tourism and shipping group said on Monday. Earlier this year, El Chiaty s stake in TUI had risen to more than 3 percent. He had told Reuters in March that he saw his holding in TUI exceeding …