SANAA: Yemeni President Ali Abdullah Saleh's ruling party will meet for crisis talks on Sunday after Saleh said he was ready to hand over power on condition he be allowed to leave with dignity.
Saleh, who is under pressure from tens of thousands (...)
SANAA: President Ali Abdullah Saleh said on Friday he was ready to cede power to stop more bloodshed in Yemen but only to what he called "safe hands" as tens of thousands rallied against him in "Day of Departure" protests.
Western countries are (...)
SANAA: A top Yemeni general who has thrown his weight behind street protests demanding the immediate resignation of President Ali Abdullah Saleh said he has no desire to take power or hold political office.
General Ali Mohsen, who sent troops to (...)
SANAA: Yemen opposition groups called on protesters to march on President Ali Abdullah Saleh's Sanaa palace on Friday to demand he step down, hoping to end a crisis that his allies abroad fear will benefit Islamic militants.
"Friday will be the (...)
MANAMA- Bahrain's main Shi'ite opposition bloc has rejected a royal call for dialogue to end unrest that has cost the lives of six anti-government protesters, a Shi'ite ex-lawmaker said on Saturday.
"Nobody is willing to sit with officials if the (...)
CAIRO: Egypt's central bank cancelled an auction of 91-day treasury bills that it originally planned to issue on Nov. 23, it said on Sunday.
The central bank gave no reason for the cancellation, which is not uncommon, but treasury dealers said (...)
CAIRO: UAE-based low cost airline Air Arabia will begin flights on its new Egypt-based carrier in June after it received an operating certificate from Egyptian authorities, the company said on Saturday.
Air Arabia, the Arab world's largest listed (...)
CAIRO: Orascom Telecom net income more than doubled in the third quarter of 2009 as customer numbers climbed 12 percent, the company said in a statement, exceeding analysts estimates.
Orascom Telecom s net profit rose to $180.9 million for the (...)
CAIRO: Egypt s GB Auto posted a 64 percent drop in net income to LE 63.9 million ($11.7 million) for the third quarter of 2009, missing forecasts by two analysts, but said it saw an upturn in the car market.
Strong quarter-on-quarter earnings and (...)
CAIRO: Fixed-line monopoly Telecom Egypt posted lower third-quarter profit as rivals from the mobile sector continue to lure away voice and data clients and push the firm to open up to new revenue streams.
Third quarter net profit fell 13 percent (...)
CAIRO: Fixed-line monopoly Telecom Egypt has started rolling out fiber optic cable networks near Cairo to offer triple play services, the company said, after the government announced a telecoms tender.
The move by the state-owned group comes as (...)
CAIRO: Suez Cement, one of Egypt s largest listed cement makers, plans to begin importing clinker and bagged cement to meet growing demand in the Egyptian market, the company said on Monday.
Suez Cement, whose five plants are operating at full (...)
CAIRO: Egypt s central bank aims to sell majority stakes in two commercial banks by the end of 2011, governor Farouk El-Okdah said on Wednesday.
The governor told a news conference that United Bank should be floated in 2011, and that a majority (...)
CAIRO: Shares in Egyptian real estate developer Talaat Moustafa ended 14.5 percent lower on Thursday after the firm s former chairman was sentenced to death for murder, driving the benchmark index lower.
Talaat Moustafa shares last traded at LE (...)
CAIRO: Egypt will see declining cement exports in 2009 due to the global slowdown coupled with a government decision to ban cement exports for four months from April, Egypt s CI Capital Research said on Monday.
But the industry can weather the (...)
CAIRO: A France Telecom unit has submitted an obligatory tender offer to buy all the shares of Egyptian mobile operator Mobinil, Egypt s market regulator said on Tuesday.
The Capital Markets Authority said it was studying the offer by Orange (...)
CAIRO: Fixed-line monopoly Telecom Egypt climbed over 4 percent on Sunday on strong first quarter results, helping Egypt s main index stay afloat on a light trading day, dealers said.
Telecom Egypt, which posted a 72 percent rise in first quarter (...)
CAIRO: Shell, BP, Petronas consortium has won a gas concession block off Egypt s Mediterranean coast, a source close to the deal said on Thursday.
The consortium won the bid for the north Damietta offshore block 3 in a bidding round launched by (...)
CAIRO: Egypt s main stock index declined on Tuesday as profit-taking continued across the board for a second day, with declines in heavyweight Orascom Construction Industries (OCI), dealers said.
OCI lost 3.91 percent to LE 135 ($23.94), while (...)
CAIRO: Egypt s main stock index climbed 1.31 percent on Thursday led by gains in Orascom Telecom, despite institutional profit-taking that set in late in the session, dealers said.
Shares in Orascom Telecom, which reported a 7 percent rise in (...)
CAIRO: Egypt s main stock index climbed 1 percent on Thursday as big caps continued to rise for a second day led by gains in real estate developer Talaat Moustafa.
The benchmark CASE 30 index ended at 3,597.56 points, while the rival Hermes index (...)
CAIRO: Egypt s main stock index jumped over 2.5 percent on Wednesday, following global markets higher, with strong gains in Orascom Construction Industries.
Shares in heavyweight OCI surged 4.28 percent to end at LE 114.45 ($20.41), while the (...)
CAIRO: Egypt s main stock index ended 1.9 percent lower on Tuesday to hit a fresh year low, but a late session recovery by heavyweight Orascom Construction Industries (OCI) trimmed market declines, dealers said.
It s just selling pressure from (...)
CAIRO: A subsidiary of Egyptian telecom giant Orascom Telecom (OT) has bought Namibian mobile operator Cell One in a $59 million cash deal, OT said on Wednesday.
OT, the biggest Arab mobile phone operator by subscribers, said Telecel Globe had (...)
CAIRO: Abu Dhabi s Arab Trade Financing Program has extended a $20 million line of credit to Egypt s Export Development Bank to finance Egyptian export activities, Egypt s Trade Ministry said on Thursday.
The deal comes as the Egyptian government (...)