Spain heads FIFA rankings; Egypt drops out of top 10
ZURICH: Egypt dropped two spots in the latest FIFA rankings after Russia surged 15 spots to number 10, edging the African Champion into 11th place. World Cup-winner Spain still reigned…
Upper Egypt Contracting sees profit trebling
Upper Egypt Contracting (UEC), a builder of low-cost housing and hotels, expects to treble its profit over the coming two years as Egypt's construction market grows, its chairman said on…
Egypt pound weakens, some see cbank buying dollars
CAIRO: The Egyptian pound traded as low as 5.7360 to the dollar on Tuesday, its weakest in three and a half years, with analysts saying the fall may be due…
Egypt, South Africa discuss continent-wide FTA
CAIRO: Africa nations are looking to fuse the continent’s two main trading blocs to form a broader free trade agreement, officials said Tuesday at a Cairo conference. The Cape-to-Cairo free…
Investcorp eyes $500 mln PE deals in 2 yrs
DUBAI: Asset management firm Investcorp's $1 billion private equity fund expects to make five to six transactions in the next two years as it seeks to deploy remaining part of…
Banks in Saudi Arabia struggle to find talent
RIYADH: Foreign banks are flocking to Saudi Arabia as the emirate opens up its bourse and rolls out the world's biggest stimulus package but they face challenges recruiting, training and…
Orascom Telecom says can contest Algeria tax claim
The Algerian government's $230 million back-tax claim against Egypt's Orascom Telecom is not final until the company is given a chance to challenge it, the firm said in a statement…
Gulf Arab firms upbeat but cautious on Iraq
DUBAI: Gulf Arab companies see growing opportunities in Iraq that should not be missed, as the war-torn nation struggles to recover from years of bloodshed, but they retain a degree…
Blazing Canadian ‘fires’ extinguished by frosty Russian ‘souls’ in Abu Dhabi
The early days of the sixth Abu Dhabi Film Festival have been hampered by several glitches: schedule overlapping, delayed screenings and disproportionate attendance (a bizarre, ongoing trend). The quality of…
Egypt eyes new stimulus package: agency
CAIRO: The Egyptian government may propose a new stimulus package to boost domestic demand should global economic developments slow growth at home, the official news agency quoted a minister as…