Ramsis Hilton to get a facelift
Tarek Moharram, managing director of the Arab International Company for Hotels and Tourism, which owns the Ramsis Hilton Hotel, signed on Sunday a renovation contract with Mohamed El-Taher Frahan of…
Algeria says will not negotiate with Vimpelcom
CAIRO: Algeria will hold talks in the first half of 2011 with Orascom Telecom about the nationalization of its local unit, but will not negotiate with Russia's Vimpelcom, the telecoms…
Oil rises above $82 as dollar weakens
LONDON: Oil rose above $82 a barrel on Monday, gaining for a second session as the US currency weakened after a Group of 20 meeting. The dollar dropped, hitting a…
One-on-one with PepsiCo’s regional president Tarek Kabil
CAIRO: While Egypt’s retail business infrastructure is evolving — as is the case with the growth of supermarkets and hypermarkets — the process needs to be accelerated, said Tarek Kabil,…
Citadel co-founds Egyptian Private Equity Association
The founders of regional private equity firm Citadel Capital, which has $8.3 billion in investments, launched the Egyptian Private Equity Association (EPEA). Local business leaders gathered in Cairo Monday along…
Egypt, Turkey trade may hit $5 bln by 2011
Minister of Trade and Industry Rachid Mohamed Rachid said that the volume of trade exchange between Egypt and Turkey hit $3.2 billion in the end of 2009, and is expected…
Sidi Kerir unaudited 9M net profit rises 24 pct
Egypt's Sidi Kerir Petrochemicals' unaudited nine-month net profit rose 24 percent to LE 583 million ($101.2 million), the stock exchange said on Sunday. Net profit was LE 470 million in…
CBE rules out intervention in the exchange market
A Central Bank of Egypt (CBE) official has ruled out any CBE intervention in the foreign exchange market following the recent weakening of the Egyptian pound against the US dollar,…
Egypt obtains €560 million in loans from EIB
The European Investment Bank (EIB) has extended two loans to Egypt’s Ministry of Electricity and Energy for an aggregate value of E560 million, the local news reported. Around €260 million…
Why has America’s economic recovery stalled?
CAMBRIDGE: The United States’ import bill now exceeds $2.4 trillion a year, more than twice that of China and greater than that of the 27 European Union countries combined. Since…
