IFC signs on to support oil and gas projects
CAIRO: The International Finance Corporation (IFC), the private sector arm of the World Bank Group, announced that it has signed a $25 million financing package for Rally Energy Corporation, a…
Democracy and the ruling elite
CAIRO: Political protests have become a common scene in Cairo in recent weeks. While yesterday s wide-scale demonstrations concluded without violence, previous protests were less benign with plain-clothed and uniformed…
Violence averted during solidarity protests
CAIRO: The much-anticipated "Black Wednesday anniversary went smoothly, as hundreds of Kefaya (Enough) movement and other activists gathered in front of the journalists syndicate. Despite an attempt to march down…
Egypt calls Israeli West Bank raid provocative
CAIRO: Egypt described an Israeli raid into the West Bank town of Ramallah on Wednesday as provocative and incompatible with peace efforts. We demand an immediate end to the use…
Sinai Bedouins aid police in terror hunt
CAIRO: Sinai Bedouins have pledged their assistance to Egyptian security forces in their search for people suspected of involvement in deadly attacks on Red Sea tourist resorts in the last…
Journalists face trial for denouncing vote-rigging
CAIRO: Three Egyptian journalists and a lawyer were charged by a criminal court Wednesday for denouncing state-sponsored fraud in last year s parliamentary elections, judicial sources told AFP. Wael Al-Ibrashi…
Authorities free 41 students detained during street protests
CAIRO: Authorities have released 41 students detained during street protests last week in support of two pro-reform judges, a security official said Thursday. The students included members of the outlawed…
Warnings for WTO deal as trade talks flounder in Paris
Agence France-Presse PARIS: A senior U.S. official cast doubt Wednesday on chances the WTO will be able to wrap up a global trade deal by December and Egypt warned that…
Median interbank rate falls to 8.15 percent
CAIRO: The median overnight interbank rate on the pound dipped to 8.15 percent on Thursday from Wednesday s 8.27 percent, with the cancellation of a T-bill auction boosting liquidity in…
Stocks fall in early trade, wipe out rebound
CAIRO: Egyptian stocks extended this week s heavy losses in early trade on Thursday in a bout of panic-selling by small investors and Gulf investors, traders said. The benchmark Hermes…
