Finnish defense firm in Egypt bribery case
Finland is to bring bribery and accounting fraud charges against a unit of state-controlled defense group Patria linked to an arms deal in Egypt. The Office of the Prosecutor General…
Air Arabia takes off to Amman
Low cost carrier Air Arabia began its services to Amman, Jordan from its third hub in Alexandria. Roundtrip flights will operate four times per week between Air Arabia’s hub in…
Second autopsy report on Khaled Saeid upholds previous results
By Sarah Carr CAIRO: A preliminary report of the second autopsy performed on the body of alleged victim of police beating Khaled Saeid has upheld the findings of the original autopsy.…
Egypt pays state firm $180 mln in sugar subsidies
Egypt's Finance Ministry has agreed to pay a state-owned sugar company LE 1 billion to cover the cost of sugar subsidies in the year to June 30, the state news…
Dubai's Amlak, Tamweel results signal turnaround
DUBAI: Earnings at troubled Dubai mortgage firms Amlak and Tamweel improved in the first quarter, the companies said on Tuesday, potentially clearing the way to mergers or takeovers. Trading in…
Court ruling does not cancel Medinaty deal: minister
The Egyptian Minister of Housing said Wednesday that local developer Talaat Moustafa's major real estate project Medinaty could continue despite a court ruling that a government body had sold land…
Egypt leads regional drop; markets snap rally
Egypt's main index EGX 30 dropped the most in nearly a month on Tuesday, led by developer Talaat Moustafa, while most Middle East markets fell as investors booked profits after…
Kuwait sees progress in talks with foreign oil firms
LONDON: Kuwait is making progress in talks on technical service agreements with international energy companies and discussions on one or more could be finished this year, a senior oil official…
Oil falls below $78 as China yuan impact fades
LONDON: Crude oil fell below $78 per barrel on Tuesday as shares retreated and on expectations that a slow rise in China's currency would have a more limited impact on…
Common myths about SME banking
In Egypt, like in all other developing and developed countries, small and medium enterprises (SMEs) constitute a large proportion of the nation’s economic activity — contributing to over 50 percent…