CAIRO: Orascom Telecom (OTH) said on Thursday it had submitted a formal arbitration notice against the Algerian government, the latest twist in a long and bitter dispute over Orascom's local mobile phone unit.
It follows years of acrimony between (...)
CAIRO: Swiss-listed Egyptian property and hotels group Orascom Development on Friday reported a full-year net loss of 69.7 million Swiss francs ($76.82 million), due to the political turmoil in Egypt and elsewhere in the Arab world last year.
The (...)
CAIRO: A year after it claimed center stage in the Arab Spring, Cairo's Tahrir Square has become a giant open-air market where capitalism is meeting the revolution.
Failed attempts by Egypt's security officials to evict protesters still camped (...)
CAIRO: Two Israelis and a Ukrainian were sentenced to life in prison by an Egyptian court on Monday on charges of smuggling a machinegun and ammunition across the Israeli border into Egypt, a court source said.
The Ukrainian and one of the (...)
CAIRO: Gamal Al-Banna's vision for Egypt would have set him at odds with his elder brother Hassan, the teacher who founded the Muslim Brotherhood as an Islamist movement in 1928 and was assassinated in 1949.
Gamal, Hassan's last surviving (...)
CAIRO: Egyptian mobile firm Mobinil said on Monday it posted a net loss in the fourth quarter of 2011 of LE 177 million ($29.32 million).
The firm had posted a net income of LE 342 million in the same quarter of 2010, it said in a (...)
PARIS: France Telecom said it had reached a preliminary accord to buy out most of Egyptian tycoon Naguib Sawiris' stake in their jointly owned telecom operator Mobinil, in a deal that will see the French group pay out about €1.5 billion, according (...)
CAIRO: Shares in Orascom Telecom Media and Technology (OTMT) and Mobinil have been suspended pending issuance of a joint statement by Mobinil's shareholders, OTMT and France Telecom over Mobinil's fate, the bourse said on Sunday.
"The management (...)
CAIRO: An Egyptian activist who became a symbol of resistance to the army's trials of civilians said on Saturday he would not be silenced and denounced the army for detaining and mistreating "prisoners of conscience".
Maikel Nabil has been jailed (...)
CAIRO: Egyptian police arrested a leading member of an armed Islamist group suspected of involvement in pipeline bombings that have disrupted gas supplies to Israel and Jordan, Egypt's state news agency reported on Sunday.
The pipeline in the (...)
CAIRO: Official campaigning for Egypt's parliamentary election will begin on Wednesday and end on Nov. 26, two days before the first round of voting starts, the election commission said on Tuesday.
The elections are the first free polls in the (...)
CAIRO: Egyptian property developer Heliopolis Housing's net profit dropped 17 percent to LE 125.6 million ($21 million) in the full year to the end of June, the stock exchange said on Tuesday.
The mostly state-owned company, one of Egypt's oldest (...)
CAIRO: Official campaigning for Egypt's parliamentary election will begin on Wednesday and end on Nov. 26, two days before the first round of voting starts, the election commission said on Tuesday.
The elections are the first free polls in the (...)
CAIRO: Egypt's Mobinil posted a 96 percent fall in year-on-year third quarter net profit to LE 10 million ($1.6 million) on Tuesday, but reversed a loss from the previous quarter.
The result compares to a net loss of LE 108.5 million in the (...)
DUBAI: Abu Dhabi's shares slumped to a fresh 30-month low, while trading was muted in most Gulf markets as investors waited for cues from European Union leaders' summit that kicked off late Sunday.
In Egypt, the main index rose 0.8 percent to (...)
CAIRO: The bloodied corpse of deposed Libyan leader Moamar Qaddafi will send a clear message to other Arab leaders who are battling to stay in power against the will of their people, some Arabs said on Thursday.
"This is the fate of a leader who (...)
CAIRO: The number of subscribers cancelling their Mobinil subscriptions has tumbled from a peak earlier this year when some customers took offence at a cartoon posted online by the company's founder, its chairman said on Sunday.
The Egyptian (...)
CAIRO: Egypt's foreign exchange reserves are at a "strong level" and the economy is safe, the deputy central bank governor said after the reserves dropped to $24.01 billion in September, down $12 billion since the start of the year.
Egypt's (...)
CAIRO: When the chief executive officer of Mobinil, one of Egypt's largest telecommunications firms, tries to plan his budget for 2012, he struggles to balance a string of economic and political uncertainties.
"It's difficult to forecast, it's (...)
CAIRO: It was no surprise that Turkish Prime Minister Tayyip Erdogan and US President Barack Obama both chose Cairo to deliver their vision for the Middle East.
The historic Egyptian capital is home to Al-Azhar mosque and university, Islam's most (...)
CAIRO: Presidential hopeful Mohamed ElBaradei, in an interview published on Wednesday, criticized the ruling army's refusal to allow foreign monitoring of forthcoming elections and its subjection of civilians to military trials.
The former head (...)
CAIRO: Share trading halted on the Egyptian Exchange on Tuesday after its benchmark index tumbled 5 percent, tracking US and European markets lower on fears for the global economy.
The index last quoted at 4,466 points at 1055 GMT before the (...)
CAIRO: Egyptian mobile firm Mobinil is switching focus from market share to boosting revenue per user and hopes to expand data services to make up half its revenue by 2013, its chief executive said.
Analysts estimate data services constitute (...)
CAIRO: Egypt's finance minister said on Sunday the government would not sell any more state firms but also reassured investors that the state had no intention of nationalizing companies, the state news agency MENA reported.
Some foreign and local (...)
CAIRO: The trial of ousted Egyptian president Hosni Mubarak for charges that include ordering the killing of protesters will take place at Cairo's Police Academy on Wednesday Aug. 3, the state news agency MENA said on Saturday.
A source close to (...)