Latest Egypt News
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Trend hunter Egyptian biker brotherhoods take to the open road
Every Friday, Maadi's residents wake up to the cacophony of motorcycles scudding down the leafy streets of this affluent Cairo suburb. Friday is the day of protests against the government after a week of toil by those fortunate to have jobs in the sinking economy.But some youths, at least, appear to be doing all right.Mohamed Sami, astride an E80,000 ($12,000) bike, professes his love for ...
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Egypt court sentences four men to hang for killing priest
CAIRO (Reuters) - An Egyptian court sentenced four men on Wednesday to death by hanging for the 2011 killing of a Coptic Christian priest in his apartment in the southern city of Assiut, state news agency MENA ...
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Egypt kidnapped security personnel freed in Sinai
"The seven security personnel have been released by their kidnappers in Sinai," military spokesman Ahmed Aly said in a statement carried by the official MENA ...
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AfDB Launches New Information Highways
Following the launch in March 2013 of Open Data Platforms in 30 African countries, the African Development Bank (AfDB) has launched additional data platforms in the following 10 African countries: Burkina Faso, Burundi, Central African Republic, Chad, Gabon, Mali, Madagascar, Niger, Somalia, Sudan. This brings to forty (40) the number of African countries already connected to the Open Data ...
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Egypt-Gaza Crossing Reopens after Liberation of Hostages
Cairo, May 22 (Prensa Latina) The border crossing at Rafah city, linking Egypt and Gaza, reopened today after five days of being shut down by soldiers due to the kidnapping of seven guards. The crisis involving seven members of the Egyptian security corps, kidnapped six days ago in the Sinai Peninsula, ended today in an anti-climax, their liberation achieved through the mediation of Bedouins. ...
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Egyptian developer SODICs net profit drops 83 pct
First quarter profit at Egyptian property developer SODIC fell 83 percent on the back of fewer deliveries of flats and houses to buyers, but the company said that business would speed up later in the year as new residential projects come on ...
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Egypt plans wheat-imports drop as ministers seek local supplies
- Egypt, the biggest wheat importer, plans to cut the state's inbound shipments of the cereal and boost local purchases to feed the Arab world's most populous nation as it tries to recover from its deepest economic slump in two decades. The government intends to buy 3 million metric tons on the international market in the 2013-14 fiscal year that starts July 1, compared with 3.4 ...
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EFG Hermes profit rises by 27.3 Y-o-Y to LE 98 m in 1Q13
), 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 EGP 98 million on total consolidated operating revenues of EGP 494 million. Group revenues rose 14% Y-o-Y in 1Q13, driven by 17% growth in Investment Bank revenues to EGP 194 million, reflecting rising ...
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Egypt keeps currency price steady at special auction
(Adds analyst comments, black market rate, background) CAIRO, May 22 (Reuters) - 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 ...
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In Brotherhoods Egypt blasphemy charges against Christians surge ahead
A blasphemy trial against a Christian teacher in this Egyptian city renowned for its Pharaonic monuments is among a wave of cases that have Egyptian Christians worried they can be jailed for insulting Islam on the flimsiest of ...
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Brotherhood Guide Congratulates Egyptians for Release of Soldiers
Supreme Guide of Egypt's Muslim Brotherhood, Mohamed Badie, extended his greetings to President Mohamed Mursi, the Armed Forces and the Bedouins of Sinai on Wednesday for their efforts in releasing the seven kidnapped security officers. Badie stressed through his Twitter account the necessity to hold the perpetrators of this abduction accountable. "Congratulations to the families of ...
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Crowell Moring Cairo advises ADIB-Egypt on landmark Islamic Finance deal
) in connection with a landmark Islamic Finance facility extended to Maridive and Oil Services SAE. Abu Dhabi Islamic Bank- Egypt was the Initial Mandated Lead Arranger (IMLA) and the global coordinator in the deal, coordinating the financing with Abu Dhabi Islamic bank (UAE), Arab African International Bank, Banque du Caire and Arab International Bank. The deal is the first Islamic Ijara ...
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Iraq spurns Egyptian Bank’s guarantee for oil payment Paper
- Iraq rejects guarantee from Egyptian bank for payment Egypt owes country for sale of 4m bbl of oil a month, Al-Borsa reports, citing unidentified officials in Cairo-based General Petroleum Authority. Iraq asking for $1.2b guarantee from an intl bank because of deterioration in Egypt's credit ...
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Egyptian leader appeals for unity
Egyptian President Mohamed Morsi appealed on Wednesday to the opposition for unity, in the face of criticism he is failing the revolution that brought him to power almost a year ...
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Egyptian security officers are freed by Islamist kidnappers
20/03/2013 02:55 CET Seven Egyptian security officers kidnapped in Sinai last week have been released. The men arrived at a military base in Cairo on Wednesday morning where they were received by President Mohamed Mursi and government ministers. Security forces said the men were freed following talks mediated by Bedouin tribal leaders. The kidnappers had demanded the release of members of ...
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The First Capacity Building Workshop for Media Professionals
On the Monday 20 May 2013 the Egyptian Organisation of Human Rights (EOHR) began its first training workshop for legal professionals about crimes of torture. The workshop aims to train a group of lawyers, legal professionals and researchers in how to deal with crimes of torture in order to make a positive difference. The workshop is scheduled over two days; namely, Monday 20 and Tuesday and 21 ...
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Egyptian artist Youssef Nabil on exile and rebirth
It was a stroke of luck or, as he would put it, "an intervention of life" that catapulted the 19-year-old fledging photographer Youssef Nabil from a modest family home in Cairo into David LaChapelle's studio in New York. A few years later, in 1997, he was back on foreign soil working with Mario Testino in Paris. Thus began the tug-of-war between Nabil and his homeland, which is ...
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Chevron to sell downstream assets in Egypt Pakistan
Chevron is the second largest oil company in US Chevron Corp is in advanced talks to sell most of its downstream assets in Egypt and Pakistan, three sources said, with the planned disposals seen raising around $300 million for the U.S. oil major.Chevron, the second-largest U.S. oil company, is conducting a separate sale process for its assets in both countries, the banking sources said, speaking ...
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Egypt Central Bank to auction $800 million forex again
Street vendor distributing bread in Egypt Egypt's central bank said on Tuesday it would offer $800 million to banks at an exceptional auction of foreign currency on Wednesday to cover the country's strategic import needs.The auction will be the central bank's second exceptional sale of foreign exchange. In April, it sold $600 million to pay for wheat, meat, cooking oil and other ...
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SODIC Q113 net dips to LE 6 m due to reduced deliveries
) has released its consolidated financial results for the first quarter ending 31st of March 2013. SODIC reported a net consolidated profit of EGP 6 mln (Q1 2012 net profit of EGP 35 mln) on consolidated revenues of EGP 130 mln (Q1 2012 revenues of EGP 312 million) . The drop in revenues y-o-y is attributable to the reduced deliveries during the quarter. The relatively low deliveries during ...
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Petroleum Minister New body for achieving energy development
Minister of Petroleum and Mineral Wealth Sherif Hadara asserted on Monday 20/5/2013 that the ministry has no definite figures on future energy consumption and there is not either a comprehensive energy plan for what should be achieved over the coming years. However, the minister said that a new energy body will be formed to work out this plan and draw the features of development in Egypt over ...
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7 kidnapped soldiers freed in Egypt
The seven soldiers were kidnapped last Thursday in the Sinai Peninsula They are now free and heading back to the capital, Cairo, a military spokesman says Military intelligence services and Sinai residents cooperated to secure their release, he ...
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Egyptian President Announces Release of Officers Kidnapped in Sinai
CAIRO ...
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ExcerptsEgyptian depression most severe since 1930s 17 May 2013
Excerpts:Egyptian depression most severe since 1930s 17 May 2013 +++SOURCE: Egypt Daily News 17 ...
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More hotels join Hilton Worldwide
Hilton Worldwide Middle East and Africa announced the launch of its popular Great Getaway promotion campaign for the MEA region, offering astute travellers the opportunity to secure up to 25% discount on hotel stays, simply by booking five days in ...
Egypt Digest
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Egypt's oil industry is growing rapidly
Egypt has, in recent years, made immense gains in terms of economic performance. The country has long been the economic powerhouse of North Africa and Africa in general (second only to South Africa and Nigeria) and has taken great steps to reverse the highly-centralized economy inherited from President Gamel Abdel Nasser.
The oil and gas sector has long been one of the major strengths in the Egyptian economy, along with other natural resources such as minerals, gold and natural gas. Read more
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