Duba''s Drake to focus on mid, high end projects
DUBAI: Faced with fierce competition for work in Abu Dhabi, Dubai's Drake & Scull International will focus on middle and upper range projects to protect profit margins, its chief executive…
Criminal Court refers double homicide defendant to Mufti
CAIRO: Judge Mohamed Abdel-Rehim Ismail, who is residing over the double homicide of two university students last year, on Wednesday referred the man charged in the case to the Grand…
Banks lose over half of Dubai World loan value, says JP Morgan
DUBAI: Dubai World's creditor banks may have lost 54 percent to 56 percent of the value of their loans to the troubled state-owned conglomerate, based on the repayment terms offered…
Real estate developers see retail potential
CAIRO: Real estate developers sounded out about the impact of regulatory changes, the availability of bank capital and why institutional investment capital is reluctant to enter the market at a…
Oil prices hover below $77 after US inventory rise
LONDON: Oil prices edged down to hover below $77 a barrel on Wednesday after a surprise hike in crude inventories in the world's top energy consumer the United States dampened…
Al Jazeera denies apologizing to ERTU
CAIRO: Al Jazeera Sports Channels denied an announcement by the Egyptian Radio and Television Union (ERTU) that it apologized for accusing Egypt of jamming its World Cup transmission on the…
Khaled Saeid’s body exhumed, new autopsy performed
Eyewitnesses to Saeid’s arrest in an internet cafe in Alexandria on Sunday June 6, however, say that he was beaten to death by two policemen.
Experts talk mortgage finance and low-income housing at Euromoney
CAIRO: Distrust and lack of public awareness regarding the role of financial institutions and developers in providing affordable housing impedes the market from reaching its full potential, said speakers at…
OCI leads Egypt's index, Juhayna recoups
Builder and fertilizer-maker Orascom Construction Industries (OCI) rose 1.3 percent, pushing Egypt's main index to a modest gain after it ended nearly flat in the two previous sessions. "Egypt's index…
Egypt to restore free zone status to refineries
Egypt's parliament has agreed to restore free zone status to oil refineries, newspapers reported on Wednesday, potentially removing a hurdle that had deterred foreign investment in the country's energy sector.…