Budget carrier flydubai hit by high fuel costs
DUBAI: Budget carrier flydubai, which does not hedge its fuel costs, is being hit by persistently high oil prices which have left it more exposed to short-term volatility than rival…
Egyptian Resorts shrinks Q3 net loss
CAIRO: Real estate firm Egyptian Resorts narrowed its losses in the third quarter of 2011 as revenue grew from its utilities business, the firm said on Tuesday. Egyptian Resorts, which…
EFG Hermes nine-month net profit slides: bourse
CAIRO: Egyptian investment bank EFG Hermes reported a 63 percent drop in nine-month consolidated net profit to LE 276.8 million ($46.3 million), according to a statement from the stock exchange…
Survey shows good value beats lower prices for Egyptian consumers
CAIRO: Egyptian consumers are more likely to save money by buying value packages or buying goods on sale, according to the latest survey by Nielsen. These strategies were more popular…
Egyptian unrest hits Orascom Development with loss
CAIRO: Swiss-listed Egyptian property and hotels group Orascom Development reported a third-quarter net loss of 2.98 million Swiss francs ($3.23 million) on Wednesday, hit by political and economic upheaval in…
Rights group calls for release of activist Alaa Abdel-Fattah
CAIRO: Human Rights Watch has called on Egypt to release a prominent activist and blogger detained by military prosecutors. In a statement Tuesday, the New York-based group called the detention…
Hollywood-China film venture to get cash infusion
A Hollywood-China movie production venture that plans to make big budget films for worldwide audiences has been cleared for an infusion of $220.5 million from an unlikely source — a…
The Arab world’s intifada
By Phyllis Bennis The "Arab spring" may have started in early 2011 when a young Tunisian fruit seller, in a desperate response to disempowerment and despair, immolated himself in the streets…
Lebanon: the risks of a wider Syrian conflict
By Nizar Abdel-Kader The dilemma Syria faces at present is to choose between the Arab League initiative to create favorable conditions for dialogue with the regime's opponents on the one hand,…
Seeming green
By Bjørn Lomborg COPENHAGEN: When Denmark’s new government ministers presented themselves to Queen Margrethe II last month, the incoming development minister established his green credentials by rolling up to the palace…