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Latest in Politics


Egypt-Turkey to sign free trade zone agreement

CAIRO: Minister of Foreign Trade and Industry Rachid Mohamed Rachid and Turkish Minister of State Kursad Tuzmen announced that Egypt and Turkey will sign a free trade zone agreement today meant to improve trade and economic exchange between the two countries. The agreement will be signed by President Hosni Mubarak and Turkish President Ahmed Necdet …

Daily Star Egypt Staff

National Bank of Egypt to merge with Tegaryoun bank

CAIRO: Egypt’s Bank of Commerce and Development (Al-Tegaryoun) will merge with the state-owned National Bank of Egypt (NBE) with effect from Thursday, the stock exchange said in a statement on Monday. The Bank of Commerce and Development is itself more than 97 percent state-owned but 2.8 percent of the shares are in the hands of …

Daily Star Egypt Staff

Assessing the exchange

CAIRO: As the excitement over Telecom Egypt’s initial public offering (IPO) settles, the Cairo and Alexandria Stock Exchanges Chairman Maged Shawky spoke to The Daily Star Egypt about recent developments and future plans for the stock market. The Telecom Egypt offering was generally considered a success, but several investors complained that they did not receive …

Waleed Khalil Rasromani

Ayman Nour sentenced to five years in jail

CAIRO: After a trial that dragged on for more than a year, Ayman Nour was sentenced, early Saturday, to five years in jail by an Egyptian court. Nour, chairman of El-Ghad (Tomorrow) Party, was accused last year of forging all but 14 applications out of the 2,000 needed by law to declare his political party …

Pakinam Amer

Return of the pop king

CAIRO: Amr Diab’s new album Kammel Kalamak (Finish Your Words) was due for a summer release but was postponed more than once.The August 17 release was first postponed in mourning over the death of Saudi King Fahd Bin Abdel Aziz Al-Saud and the victims of the Sharm El-Sheikh terrorist attack. Then rumors circulated that Diab …

Sarah El Sirgany

Order in court?

CAIRO: Ayman Nour’s trial was a circus, complete with baying audiences, strongmen keeping ravenous hordes at bay and cages being rattled in a desperate attempt at freedom. The problem is, the trial’s entertainment value was as dubious as its outcome, or credibility. Apart from a very few exceptions, no one will ever really know if …

Daily News Egypt

EgyptAir signs environment-friendly protocol

CAIRO: In an effort to activate its role in environmental protection, EgyptAir Holding Company signed a collaboration protocol with the Ministry of State for Environmental Affairs. The holding company’s role would be activated throughout its seven subsidiaries, locally regionally and internationally, “through materializing the Egyptian and international laws in the field of occupational health and …

Sarah El Sirgany

Egypt median o/n interbank rate dips to 9.15 pct

CAIRO: The median overnight interbank rate on the Egyptian pound inched down to 9.15 percent on Sunday from 9.155 percent on Thursday in the middle of a period for calculating banks’ reserves. “There isn’t anything new in the market today and trade is quiet, one trader said. “No one really needs funds right now …we …

Daily Star Egypt Staff

Kharafi Group goes high-tech

CAIRO: “Pity the nation that wears a cloth it does not weave, Khalil Gibran once wrote. This sentiment was echoed by Ibrahim Saleh, who heads up several of the Kharafi Group’s manufacturing ventures in Egypt, including a smart card factory and a computer hardware manufacturing plant that started operation earlier this month. “Up to when …

Waleed Khalil Rasromani

An Oscar for Egypt?

CAIRO: Kharif Adam or (Adam’s Way), is the first Egyptian film ever to be short-listed in the Oscars and the Golden Globe awards. Although the chance of the film actually winning is slim,just being considered is a big step for Egypt’s film industry. The film’s storyline is not new, based on Mohamed El-Bossaty’s 1970 novel …

Farah El Alfy

Documentary glorifies Sadat's assassin

CAIRO: A prospective Iranianproduced documentary on the assassination of the late President Anwar Sadat, has kicked off a range of volatile of reactions inside Egypt.Among other issues, the documentary apparently glorifies Khaled El-Islamboli, Sadat’s assassin. While some Egyptians are ready to incriminate the Iranian government, others cautioned against linking the government to the documentary, especially …

Pakinam Amer

Working it out together

CAIRO: With different backgrounds and interests in their past, sisters Amani and Amal Hafez joined forces to open Body Works, a women-only gym and studio. According to Amani, “This part of town [Heliopolis, where the studio is located and where the two sisters live] is a womenonly-area, whose residents are more conservative than those living …

Sarah El Sirgany

Britain holds hearing on Sharm El-Sheikh attack

CAIRO: A British coroner began hearing evidence Monday about the deaths of 11 Britons who died last summer in terrorist bombings in Sharm El-Sheikh. The two-day hearing was being held in Chelmsford, north of London, the BBC reported. As the hearing began, Coroner Caroline Beasley-Murray acknowledged how “dreadful it must be for the families of …

Daily News Egypt

Bridging the gap

CAIRO: Today’s international headlines are choked with references to so-called Islamic terrorism, fundamentalism, and extremism. Images of gunwielding Palestinians and suicide bombers etch negative impressions of the Muslim world to Western audiences. Since the onset of the U.S. and allied invasion of Iraq, disturbing images of Westerners being executed by groups avowing Islamic ideals have …

Aida Nassar

The faces of freedom

CAIRO: How far can you push the limit, testing authorities’ tolerance to the freedom of expression you are demonstrating? No one can answer this question better than Amr Adib; because for the past six years he has been testing the limits on air. “Freedom is hard-pressed. Meaning, it is acquired, it is not bestowed, says …

Sarah El Sirgany

Sudanese asylum seekers end CairoU.N. sit-in

  *     CAIRO: Some 1,500 Sudanese asylum seekers have abandoned a more than two-monthlong sit-in outside U.N. offices in Cairo after the agency agreed to review their asylum claims, the body s refugee arm said on Sunday. The U.N. High Commissioner for Refugees (UNHCR) said concern for the protestors,who had endured winter temperatures …

Daily Star Egypt Staff

Making Egypt prosper in a global economy

CAIRO: As global trade representatives met head-on in Hong Kong to negotiate the reduction of tariffs and agricultural subsidies, Minister of Investment Mahmoud Mohieddin and Deutsche Bank Chief Economist Norbert Walter presented their views on whether Egypt can prosper in the world trade blocs of Europe, Asia and America. Speaking at a conference on Sunday …

Waleed Khalil Rasromani

Four banks interested in United Bank of Egypt

CAIRO: The Central Bank of Egypt has given four banks permission to undertake due diligence checks on United Bank of Egypt (UBE) as the prelude to a possible takeover, a UBE official said on Monday. The banks are Lebanon s Bank Audi, Suez Canal Bank, Egyptian Gulf Bank and Egyptian Commercial Bank, said the official, …

Daily Star Egypt Staff

Talaat and Hafez under investigation

CAIRO: Investigation is currently underway in the case of businessman Ihab Talaat and former President of Egyptian Radio and Television Union and Media Production City Abdel Rahman Hafez.The Administrative Monitoring Authority will determine exact charges on Wednesday. Talaat is facing charges of appropriating public funds, and Hafez is facing charges of facilitating the embezzlement. The …

Sarah El Sirgany

Sunken treasures resurface

CAIRO: Immersed in the choppy waters of the Mediterranean lurk treasures from the era of Anthony and Cleopatra.Until today, only few adventurous divers and the fish could enjoy the colossal statues and the sphinxes. Finally, the treasures have resurfaced. Earlier this week, Minister of Culture Farouk Hosny announced that the riches will be on display …

Daily Star Egypt Staff

Sudanese asylum seekers end Cairo U.N. sit-in

CAIRO: Some 1,500 Sudanese asylum seekers have abandoned a more than two-monthlong sit-in outside U.N. offices in Cairo after the agency agreed to review their asylum claims, the body s refugee arm said on Sunday. The U.N. High Commissioner for Refugees (UNHCR) said concern for the protestors,who had endured winter temperatures camping in the open …

Daily Star Egypt Staff

Ayman Barakat's trial postponed

‘The case against him is very fishy,’ alleges his attorney CAIRO: A group of El-Ghad (Tomorrow) Party supporters protested rowdily on Monday in front of the Benha Criminal Courthouse chanting, “Down, Down with Mubarak! The protestors flocked from Cairo and Banha (a city in Qalyubiyya) to witness the ruling in the court case of El-Ghad …

Pakinam Amer

Prime Securities cut target price for EAB

CAIRO: Prime Securities cut its target price for Egyptian American Bank (EAB) to LE 62 a share from LE 64 pounds after the bank released results for the first nine months of the year. It gave EAB shares an “Accumulate recommendation because of the gap between the target and the market price. EAB shares last …

Daily Star Egypt Staff

The attackers had knives and firearms, and they took documents and video tapes from Nour’s office, before starting a fire. (Photo : Ayman Nour El-Ghad El-Thawra Party's Head) (AFP\Photo)

Nour continues hunger strike

Appealing for the sympathy of the public and attention of the officials, Ayman Nour, leader of El-Ghad (Tomorrow) Party, continues his hunger strike for an eighth day – lying in a hospital room in Tora Mazraa Prison – protesting his temporary detention amid warnings of his appointed physicians and appeals from his wife.

Pakinam Amer

Airport detentions source of humiliation

NEWARK, New Jersey: For years, Egyptian native Mohamed Younes protested the questioning and detention of Muslim and Arab-American air travelers when they were stopped at airports on security grounds. Now, it has happened to him. An elder in Paterson’s Muslim community – and a close friend of top FBI officials in New Jersey – Younes …

Daily Star Egypt Staff

Middle East, North Africa risk HIV/AIDS epidemic

CAIRO: It was 1986 when the first case of HIV was reported in Egypt. The patient, a man in his 20s, was quarantined against his will at one of Egypt’s local fever hospitals. Reluctant to stay, the infected patient attempted to escape. A hospital security guard shot him down in cold blood. Another case surfaced …

Vivian Salama

Childhood revisited

There are different ways to read Sayyid Qutb’s autobiography A Child from the Village. One can simply view it as an intimate document of rural life at the turn of the 20th century or as data providing clues to the understanding of Qutb’s eventual adoption of the radical Islamic activism that he later became famous …

Daily News Egypt

Artists in protest

CAIRO: For thousands of years, art has held an honored place in Egypt, being rich with both artists and patrons.While art continues to have an influence on the people of this country, many feel it is no longer held in high esteem by the government. The sad state of many of the buildings provided for …

Joseph Mayton

Equipment delays exploratory drilling

CAIRO: Royal Dutch Shell said on Sunday it had found up to 1 trillion cubic feet (tcf) of gas so far in a deepwater concession in Egypt, but a rig shortage has delayed further exploration drilling to mid-2006 Shell wants to find enough gas in its North East Mediterranean Deepwater (NEMED) concession to build its …

Daily Star Egypt Staff