Latest Egypt News
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Explosion Kills One Person in Egyptian Peninsula
Cairo, May 23 (Prensa Latina) The explosion of an all terrain vehicle parked in the Egyptian city of Rafah killed one person, reported the ...
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SODIC 1Q13 net income significantly below forecast on weak deliveries Hermes
) has reported 1Q2013 net income before minorities of only LE 6 million, significantly below our LE 34 million forecast. Hermes added that, We view the results negatively, given the weak deliveries that have driven the earnings disappointment. The company delivered only 37 units worth EGP115.8 million in its flagship project Allegria, much lower than our expectation. We believe that our ...
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Egypt plans to issue sukuk in early 2014
By Abhinav Ramnarayan Thu May 23, 2013 11:58am EDT LONDON, May 23 (IFR) - Egypt aims to issue a sukuk to international and domestic markets at the beginning of 2014, the country said in its new USD12bn euro medium term note programme. The Arab nation, rated Caa1/CCC+/B, wants to use Islamic bonds as a diversification tool to broaden the investor base and has been "targeting financing ...
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NUCA extends SODIC West development schedule for extra 10.5 months
) has announced an update regarding the current legal status of extending the development schedule for SODIC West: New Urban Communities Authority's (NUCA) Board of Directors has formally approved an extension for SODIC's "SODIC West" development schedule to compensate for the delays in issuing necessary approvals. In that respect SODIC has received an official letter from ...
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U.S. State Department Daily Press Briefing Libya Egypt
QUESTION: On Libya, did the FBI complete its investigation in the attack on the consulate in Benghazi? Because there is a report today saying that the White House have enough proof about five suspects in Libya, and they are monitoring them. MR. VENTRELL: What I - again, I have to refer you to the FBI for the status of their investigation, but just to emphasize that there's no one more than ...
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Police Arrest Four Jihadist Suspects in Alexandria
An Alexandria prosecutor has ordered that four suspected jihadists, who were arrested on the desert road on Wednesday, be detained for four days pending an investigation. A security source said that an ambush had found the four men suspicious and when it searched their vehicle, it found weapons, including a machinegun, bullets, and hand grenades. Preliminary investigations revealed that the ...
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Report - Women in Developing Countries Most Prone to Environmental Pollution Effects
Environmental pollutants are responsible for 23 percent of diseases worldwide, a new World Health Organization (WHO) report showed. Resolving the problems caused by these pollutants may save the lives of six million women annually, the report indicated. Breast cancer kills 19 percent of women annually, said director of WHO's Public Health and Environment Maria Neira. Breast cancer is ...
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EFG Hermes reports 27.3 Y-o-Y rise in net profit in Q1 2013
EFG Hermes, the leading investment bank in the Arab world, released today its consolidated financial results for the first quarter of 2013, reporting net income after taxes and before minority interest of EGP98m on total consolidated operating revenues of ...
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AMOC to extend contract with Egyptian General Petroleum for 3 years
) BOD approved to extend contract of selling and buying petroleum with Egyptian General Petroleum Corporation for three years ending in 30/06/2015 with the same ...
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Egypt to issue smart cards to fuel stations next month
View Photo Reuters/Reuters - A motorcyclist carries fuel containers after filling them up from a petrol station as he passes other motorists in queue in Toukh, El-Kalubia governorate, about 25 km (16 miles) ...
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Tourism in Egypt Hope amid a slow recovery
WEF: Egypt 'one of the most dangerous places on earth' Country's millions of tourism workers hit hard by poor business following political unrest "Bikinis are welcome in Egypt and booze is still being served," says tourism minister Tourist arrivals plummeted in 2011, but began picking up late last ...
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Egypt Defuses Sinai Crisis
CAIRO [MENL] -- Egypt has employed negotiations and heavy military pressureto defuse an insurgency crisis in the Sinai Peninsula. The regime of President Mohammed Morsi has won the release of sevenEgyptian soldiers and security officers held in Sinai. Officials saidBedouin gunmen released the seven unharmed on May 22 in a move that halted amajor counter-insurgency ...
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Egypt to sink some $700 million to easy electricity shortages
The Egyptian government said on Wednesday it would supply more gas and diesel to power stations to deal with electricity shortages that have worsened in recent months after the cash-strapped country failed to import enough ...
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Crowell and Moring Cairo advises Abu Dhabi Islamic Bank- Egypt on landmark Islamic finance deal
In a first-of-its-kind transaction in post-revolution Egypt, Crowell & Moring's Cairo office has advised the Abu Dhabi Islamic Bank-Egypt in connection with a landmark Islamic Finance facility extended to Maridive and Oil Services ...
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A verdict against Amer affiliate to pay LE 77 m says to seek annulment
) announced that Genoa Tourism Investment gained verdict against Tropi 2 Touristic Development, Amer's affiliate, that the later will pay LE 77.877.000 in addition to arbitration fees. Amer added, in a release to EGX that, it is conducting the legal procedures to annul this ...
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Court Acquits Seven Policemen of Killing Protesters
A Cairo court on Wednesday acquitted seven policemen of charges of killing protesters outside a police station on a day dubbed "Friday of Rage", during the uprising that toppled former President Hosni Mubarak. The public prosecution had referred the defendants to a criminal court on charges of killing one protester and attempting to kill 11 others, during the uprising. The ...
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Released Soldiers Arrive in Cairo
Seven released Egyptian security officers, who were kidnapped by Islamist militants in Sinai on Thursday, arrived to Almaza Cairo Airport on Wednesday after being released, reported the state-owned news channel. President Mohamed Mursi, Prime Minister Hisham Kandil and Defence Minister Abdel Fattah Sisi received the released security personnel at the airport. The authorities will hold a press ...
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AfDB Approves a Usd 20 Million Trade Finance Line of Credit for Ut Bank Ghana to Support SMEs and Local Corporates
The Board of Directors of the African Development Bank (AfDB) approved on Tuesday, May 22 a USD 20 million Trade Finance Line of Credit for UT Bank Ghana (UT Bank) to support the trade finance activities of Small and Medium Enterprises (SMEs) and local corporates in Ghana. As the Ghanaian economy continues to grow and diversify, there is increasing need to address critical market demand for ...
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Paid for the risk Egypts tempting pound
Surprising as it may seem, the Egyptian pound has got some fans. The currency has languished for months at record lows against the dollar and the headlines arealarming the lack of an IMF aid programme, meagre hard currency reserves, political upheaval. So what's to like ? Analysts at Societe Generale say thatjust looking at the spot exchangerate of the pound is missing the bigger picture. ...
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Egypt manages through the bottleneck 2nd currency auction succeeds
It did not say how much currency it actually sold Egypt's central bank kept the price of the country's currency steady against the dollar at a special $800 million foreign exchange auction on Wednesday, called to help importers pay for wheat, meat, cooking oil and other essential imports.It did not say how much currency it actually sold.Egypt has used up its foreign currency reserves, ...
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Nations Mursi Calls On People of Sinai to Hand Over Weapons
Egyptian President Mohamed Mursi urged everyone who has weapons in the Sinai Peninsula to hand them over on Wednesday, saying that only the authorities should be armed. He said, "Only the armed forces and the interior ministry should have weapons as stipulated by law." Mursi held a press conference today at Almaza Cairo Airport shortly after receiving the released security personnel ...
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ECOWAS Partners Have Made Irreversible Progress in Mali
Abuja - Nigeria - ECOWAS and the international community have made irreversible progress in Mali by freeing the north of the country from the grip of terrorists and securing its territorial integrity, the President of the ECOWAS Commission, His Excellency Kadre Desire Ouedraogo has affirmed. Speaking at an interactive session between management and staff of the Commission in Abuja on Friday ...
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ECOWAS Sympathizes With Nigeria Over Pilots Death
Abuja - Nigeria - The President of the ECOWAS Commission, His Excellency Kadre Desire Ouedraogo has sent a condolence message to Nigeria's President Dr. Goodluck Ebele Jonathan over the death of two Nigerian Air Force fighter-jet pilots who died while providing support to the African-led International Support Mission in Mali (AFISMA). "The death of the gallant officers is no doubt a ...
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Syrians seeking refuge in Libya
UNHCR deliver aid to Syrian refugees in Misrata, Libya MISRATA, 23 May 2013 (IRIN) - Two years ago Syrians in the relative security of their own country watched the unfolding crisis in Libya descend into a devastating civil war. Since then the tables have turned, and many of those same families find themselves in Libya after fleeing the Syrian conflict, which has left an estimated 6.8 million ...
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26 May Listing South Valley Cement shares after reducing capital
) from LE 2.463.292.315 to LE 2.433.367.315, through executing 6.025.000 treasury stocks. Noting that, the company's issued capital after reduction process will be LE 2.433.367.315, distributed over 486.673.463 shares at a nominal value of LE 5 per share (representing the 7th issue). 2- Shares will be available for trading effective on Sunday 26/05/2013 trading ...
Cairo Discussed
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Cairo leading new wave in literature
The publishing industry in Cairo is undergoing a profound change that may have implications for the day-to-day life of Egyptians for years to come, it is a kind of revolution in literature that may one day put Cairo on the map, nestled among those other publishing powerhouses, New York, London, and Chicago primarily, but also regional publishing centers like Johannesburg, Mumbai, and Sydney.
Cairo is already a literature producing city, but it is more commonly associated with Arabic texts, and these pieces of literature are further associated with sweeping assessments of society, societal change, politics and religion on a macrocosmic level. Traditionally, there has also never been much of a local market for literature in Cairo or wider Egypt, leading to an old saying that books are written in Cairo, but published in Beirut and then read in Baghdad. Read more
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