LINKdotNET announces free month for subscribers
Internet Service provider LINKdotNET said it will not charge its current subscribers for its services between Feb. 18 and March 18, as compensation for the internet outage period that resulted from damaged undersea cables.
The company is also working, along with mother company Orascom Telecom, on a news submarine cable connecting Africa, Asia and Europe.
The cable is to be launched early 2009.
Egypt s steps to implement Kyoto Protocol reviewed
“Egypt is implementing a new climate preservation program that encourages the private sector to invest in clean energy projects, recycling waste and planting forests, Environment Minister of State for Environment affairs Maged George said Wednesday.
George, who is leading Egypt s delegation to the meetings of the Global Environment Forum, currently in session in Monaco, also reviewed steps taken by Egypt to abide by the Kyoto Protocol during meetings.
“More financing is required to confront environmental challenges, he said.
The Kyoto Protocol is an agreement made under the United Nations Framework Convention on Climate Change (UNFCCC).
Countries ratifying this protocol commit to reducing their emissions of carbon dioxide and five other greenhouse gases, or engage in emissions trading if they maintain or increase emissions of these gases.
The Kyoto Protocol now covers more than 170 countries globally and more than 60 percent of countries in terms of global greenhouse gas emissions.
As of December 2007, the US and Kazakhstan are the only signatory nations not to have ratified the act. This treaty expires in 2012, and international talks began in May 2007 on a future treaty to succeed the current one. -SIS
Egypt s balance of payment hit $3.1 b surplus in six months
“Egypt s balance of payment scored a $3.1 billion surplus during the first half of fiscal year 2007/2008 compared to $2.9 billion in the year before, the Central Bank of Egypt said Wednesday.
The bank attributed the increase in the period from July to Dec. 2007 to a rise in the services surplus and net unrequited transfers.
Tourism revenues increased by 30.1 percent to reach $5.6 billion with Suez Canal transit tolls going up 24.6 percent to hit $2.3 billion, according to the bank.
As for the returns on direct foreign investments, the bank said they hit $7.8 million in the first half of the fiscal 2007/2008 compared with $7.2 million in the same period of the previous fiscal year.
Commodity exports increased by $7.1 billion to hit $24.4 billion due to tangible increase in petroleum exports and non petroleum exports.
Service balance achieved a surplus to the value of $6.8 billion during the period July-December 2007-2008 compared to $5.6 billion during the corresponding period a year earlier. -SIS
Mohie Eddin: Egypt keen on luring Japanese investments
“Egypt is keen on increasing and luring Japanese investments, said Investment Minister Mahmoud Mohie Eddin, terming as deeply-rooted Egyptian-Japanese political and historical relations.
Leading Egypt s delegation on an official visit to Japan, the minister said the Egyptian-Japanese economic and investment relations are not up to their political ones, pointing out that there are great opportunities to increase cooperation between businessmen of the two countries.
Egypt is keen on diversifying its direct foreign investments to include US, European, Arab, Indian, Turkish and Japanese ones.
The Minister recommended Egyptians to make use of Japanese expertise in different domains. -SIS
Dubai to have tram network by Sept 2009
DUBAI:Dubai plans to have a $500 million tram network up and running by Sept. 2009 to deal with the growing transport demands of the booming Gulf emirate, Khaleej Times reported on Friday.
The completion of the 15 km network is also expected to coincide with the opening of the first phase of a multi-billion-dollar metro network, the English-language daily reported.
Both projects aim to reduce traffic congestion in the popular tourist destination. The tram service will not only be an effective solution to the traffic woes but will also become a major tourist attraction, Abdulredha Abu Hassan, a senior Dubai transport official, told the paper. More than a million cars ply the roads of Dubai for a population of just over 1.2 million, of which 80 percent are expatriates. -AFP
Egypt s National Cement six-month profit down 33 percent
CAIRO: Egypt s National Cement NCEM.CA posted a 33 percent drop in net profit in the six months to the end of 2007 to LE 101.37 million Egyptian pounds ($18.46 million).
The company made LE 151.16 million in the same period a year earlier, the first half of its financial year. A statement on the stock exchange Web site gave no further details.
Shares of the company dropped 3.08 percent to 30.50 pounds during Thursday s trading session.
National Cement is a subsidiary of the state s Chemical Industries Holding Co. and is 98 percent government owned, according to Reuters data.
