Egypt median o/n interbank rate steady at 8.35 pct
CAIRO: The median overnight interbank rate on Egypt s pound was 8.35 percent on Thursday, with market conditions little changed from Wednesday when the rate was 8.399 percent, bankers said.Four…
EFG-Hermes raises valuation for OT
CAIRO: Investment bank EFG-Hermes raised its long-term fair value estimate for Orascom Telecom (OT) to LE 437 ($76.27) a share because of what it called OT s aggressive growth strategy.EFG-Hermes…
Intact tomb found in Valley of the Kings
CAIRO: An American team has found what appears to be an intact tomb in the Valley of the Kings, the first found in the valley since that of Tutankhamun in…
Moment of pride beckons for Drogba
CAIRO: Ivory Coast striker Didier Drogba says lifting the African Nations Cup in Friday s final against Egypt is a matter of pride.Drogba, wearing the captain s armband in Egypt,…
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…
