Mido banned, teammates claim verdict too harsh
CAIRO: Egyptian striker Mido should not have rowed with team coach Hassan Shehata but his instant six-month ban is too harsh, his teammates said on Wednesday.Mido will miss Friday s…
Human rights groups investigate shipping disaster
CAIRO: Alongside an official government investigation, local human rights groups have launched a parallel inquiry into the circumstances under which a ferry sank in the Red Sea on Feb. 3.…
Crash burns onto the silver-screen
CAIRO: The issue of prejudice is not unfamiliar on the silver screen. There have been many films tackling the issue in various ways. Only the unique and well thought-out have…
Industrial development growth in line with far-reaching business plans
CAIRO: The Minister of Trade and Industry, Rachid Mohamed Rachid, announced that industrial investments reached LE 15.0 billion during 2005.Workers, 115,000, were hired and 3,200 new companies were granted establishment…
Cargo ship blocks all traffic in the Suez Canal
CAIRO: A 93,000-ton cargo ship blocked the Suez Canal on Wednesday, stopping all transit of the waterway between the Mediterranean and the Red Sea, a Suez Canal Authority official said.Four…
CIB acquisition finalized
CAIRO: The sale of 18.7 percent of Commercial International Bank (CIB) to a consortium of investors was announced yesterday in a deal worth approximately $230 million.All regulatory approvals for the…
Egypt median o/n interbank rate creeps up to 8.4 percent
CAIRO: The median overnight interbank rate on Egypt s pound ticked up to 8.4 percent on Wednesday from 8.385 percent on Tuesday, traders said. The rates are slightly higher, but…
EFG-Hermes helps drag down stocks
CAIRO: Egyptian investment bank EFG-Hermes helped drag Egyptian stocks down on Wednesday as retail investors sold ahead of a planned capital increase, traders said.The benchmark Hermes index fell 2,560.24 points,…
Captain refused to help sinking Red Sea ferry
CAIRO: The captain of a Red Sea ferry has admitted that he steered clear of a doomed ship that sank between Saudi Arabia and Egypt last week, leaving at least…
Nour's wife denied visitation rights
CAIRO: Ayman Nour's wife and El-Ghad party spokesman, Gamilla Ismail, was prevented from visiting her husband, who is currently in the midst of his sentence in Tora Mazraa Prison; Ismail…
