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Parliament refuses El-Eleimy’s response to ‘offenses’

CAIRO: Parliament on Monday refused the statement presented by MP Ziad El-Eleimy in response to demands that he apologizes to head of the military council and a popular preacher. Eleimy told parliament that he insisted on his political stance in regards to the Supreme Council of the Armed Forces (SCAF). "I wish we could cooperate …

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Palestinians: Egypt to help with Gaza power

RAMALLAH: A Palestinian energy official says Egypt has agreed to ease Gaza’s chronic power shortages. Gaza has suffered frequent blackouts and fuel shortages because of a border blockade imposed after the 2007 takeover of the territory by Hamas. Former Egyptian president Hosni Mubarak had sided with Israel in enforcing the blockade, trying to isolate the …

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Critics lament conservative winner at edgy Berlin film fest

The Berlin film festival wrapped up Sunday after handing its Golden Bear top prize to Italian prison docu-drama "Caesar Must Die" in what commentators called a worthy but conservative choice. The picture shows real-life murderers and mafiosi from a high-security jail in Rome staging Shakespeare’s tragedy "Julius Caesar," with their own personal dramas giving resonance …

DNE

The Iranian nuclear threat goes global

TEL AVIV: The current drive to prevent Iran from developing a nuclear arsenal reflects two important, and interrelated, changes. From Israel’s perspective, these changes are to be welcomed, though its government must remain cautious about the country’s own role. The first change is the escalation of efforts by the United States and its Western allies …

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State-mosque relations in Europe, the other half of the story

CHESTNUT HILL, Massachusetts: Just over 1 percent of the world’s 1.5 billion Muslims reside in Western Europe, yet this minority has had a disproportionate impact on religion and politics in its new home. In just fifty years, the Muslim population has ballooned from some tens of thousands to 16 or 17 million in 2010 — …

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The Arab Spring a year on: Mixed expectations amongst pundits and politicians

CAIRO: One is cautious while another remains optimistic, whereas the third remains ambitious. These viewpoints summarize the opinions of socio-economic experts Galal Amin and Saad-Eddin Ibrahim, and the Freedom and Justice Party’s Hassan Malek, one year after the uprisings of 2011. Speaking under the slogan of “The Developmental State in the Arab Region,” the Al-Jazeera-hosted …

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Housing minister says Egypt real estate climate stable

CAIRO: “Real estate investment [in Egypt] will remain an icon among its peers in the Arab world,” said the country’s housing minister at a conference on Monday. Real estate is “connected to important sources of investments and employment,” he added, assuring investors of the government’s eagerness to cool down the climate in spite of all …

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Egypt trims sale size of 5- and 7-year bonds

CAIRO: Egypt’s central bank said it sold LE 2 billion ($331.2 million) in reopened five- and seven-year bonds on Monday, LE 1 billion less than what it had offered. The central bank sold LE 1.6 billion of five-year bonds maturing on Jan. 17, 2017, and carrying a coupon of 16.35 percent. The yield ranged from …

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Abraaj Capital to acquire UK-based Aureos

DUBAI: Abraaj Capital said on Monday it will acquire specialist fund Aureos Capital, in the latest bid by the Middle East’s largest private equity firm to expand its geographical footprint. Abraaj declined to give financial details for the acquisition but said the combined company will manage $7.5 billion in assets across 30 emerging countries. Aureos …

DNE

Egypt delegation meets Swedish textile sector

CAIRO: A delegation of Egyptian textile industry insiders visited Sweden earlier this month to explore opportunities for bilateral cooperation in the field. The visit is one of the initiatives launched by the Swedish Embassy in Cairo and the Swedish Trade Council to enhance trade relations between the two countries, the embassy said in a statement. …

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Egypt expects $8 bln in petroleum investments, says minister

CAIRO: International investors have pledged $8 billion in petroleum investments this year, said Egypt’s Petroleum Minister Abdallah Ghorab at a conference on Monday. Ghorab opened the North Africa Technical Conference and Exhibition, taking place in Cairo from Feb. 20-22 and focusing on managing hydrocarbon resources. The primary issue, regarding the effect of regional political unrest …

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At business forum, McCain says US-Egypt relations ‘changing’

CAIRO: Joined by US Senator John McCain, some of the largest American companies in Egypt met in Cairo on Monday to discuss economic partnerships, particularly underlining supply chain opportunities. Ahead of the business discussions, McCain said that while America’s partnership with Egypt is “changing,” the US is determined to help Egypt through its transition, and …

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Presidential election results before June 30, says election committee

CAIRO: The results of run-offs in Egypt’s first post-Mubarak presidential election will be announced before the end of June, the supervising committee said on Sunday. Farouk Sultan, head of the Supreme Presidential Election Committee, said in a press conference Sunday that the Ministry of Foreign Affairs asked that the voting process for Egyptians living abroad …

DNE

Government apologizes to PA for minister’s provocation

CAIRO: Minister of Parliamentary Affairs Mohamed Atteya apologized Sunday to the People’s Assembly on behalf of Minister of Social Solidarity Gouda Abdel Khaleq, who had earlier lashed out at an MP who heckled him. In the last half hour of the PA session dedicated to discussing unemployment, MP Mohamed Abdallah Aly cut in while Abdel …

DNE

Egypt gunmen storm courthouse in southern city

CAIRO: Gunmen stormed a courthouse in the southern city of Aswan to free two men who had just been sentenced on drugs charges on Sunday, a security official said, in a fresh case of rising insecurity in post-revolt Egypt. Five men armed with automatic weapons stormed the Aswan courthouse to free two relatives shortly after …

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PA refers young MP to special committee to investigate Tantawi slander

CAIRO: In Sunday’s parliamentary session, MP Ziad El-Eleimy, representing the Social Democratic Party, refused to apologize for allegedly using offensive language to refer to the head of the Supreme Council of the Armed Forces (SCAF) Field Marshal Hussein Tantawi. In a speech he made in Port Said on Friday, El-Eleimy accused SCAF of responsibility for …

DNE

Egypt to offer $500 mln in 1-year USD T-bills

CAIRO: Egypt’s central bank said on Sunday it would offer $500 million in dollar-denominated 1-year treasury bills at an auction on Tuesday, its fourth dollar offering since Nov. 29, as the government struggles to finance its budget deficit. The deficit burgeoned after last year’s popular uprising, and the finance minister said in October liquidity at …

DNE

Egypt tech spend fell in 2011, more gloom for 2012: IDC

DUBAI: Spending on information technology (IT) fell 13 percent in Egypt last year after the fall of former president Hosni Mubarak and will be flat for 2012 as a political void stalls government investment in the sector, IDC said on Sunday. The research firm said Egypt’s IT spending will be $2.13 billion in 2012, the …

DNE

Egypt’s real estate sector back in the spotlight

CAIRO: With Egypt’s political landscape seemingly stabilizing, investors are gradually making their way back into the market, with the spotlight focused on the country’s once thriving real estate sector. Whether you were looking for a small getaway on the coast of the Mediterranean, something more luxurious on the Red Sea, or an upscale residence in …

DNE

Experts to discuss technical side of oil and gas at Cairo conference

CAIRO: Egypt is hosting the third edition of the North Africa Technical Conference and Exhibition (NATC) from Monday to Wednesday this week in Cairo, where petroleum professionals will meet to discuss the latest technical issues in the industry. Inaugurating the conference, titled “Managing Hydrocarbon Resources in a Changing Environment,” Egypt’s Petroleum Minister Abdallah Ghorab will …

DNE

Egypt index climbs to 7-month high

CAIRO: Egypt’s main index rose to its highest daily close since July 21 after the finance minister says the country will sign a $3.2 billion loan agreement with the International Monetary Fund (IMF) next month, traders said. Finance Minister Mumtaz Al-Saeed confirmed a report in Al-Ahram newspaper that reported Egypt would receive one-third of the …

DNE

Egypt to sign IMF loan next month, minister says

CAIRO: Egypt expects to sign a $3.2 billion loan agreement with the International Monetary Fund (IMF) next month and will receive one-third of the funds immediately upon signing, Finance Minister Mumtaz Al-Saeed was quoted on Sunday as saying. The loan accord would be signed during a visit to Egypt in March by IMF regional director …

DNE

Egypt presidential vote to be early June: source

CAIRO: Egypt’s first presidential election since president Hosni Mubarak was overthrown last year will be held in the first week of June, an official at the judicial committee supervising the vote said. Army leaders who took over from Mubarak in February last year have faced street protests and widespread demands that they hand power to …

DNE

Egypt recalls its ambassador to Syria: state TV

CAIRO: Egypt recalled its ambassador to Damascus, state television said on Sunday, in what appeared to be the latest step in a series of Arab diplomatic moves to intensify pressure on President Bashar Al-Assad, who is trying to crush a popular uprising in Syria. State news agency MENA said the decision was made after a …

DNE

Nabil El-Araby denies presidency talks

  CAIRO: Secretary General of the Arab League Nabil El-Araby denied Saturday that he was approached by any party or official entity to discuss the possibility of contesting the presidency.   Media reports claimed last week that El-Araby’s name was put forward as a candidate supported by the Muslim Brotherhood (MB) and the country’s military …

DNE

Stars pay tribute to Whitney Houston in US

Hollywood stars, music greats and loved ones praised the "sweet miracle" of Whitney Houston at a moving funeral service in her home town Saturday, a week after the pop singer’s sudden death. A gold-colored hearse delivered Houston’s body to Newark’s New Hope Baptist Church, where she sang as a child before her voice was shaped …

DNE

Italian prison docu-drama ‘Caesar Must Die’ wins Berlin fest

Italy’s veteran directors Paolo and Vittorio Taviani won the Golden Bear at the Berlin film festival Saturday for "Caesar Must Die," a docu-drama about inmates at a high-security prison staging Shakespeare. Filmed in black-and-white and color, the picture shows murderers and mafiosi playing the parts of Shakespeare’s tragedy "Julius Caesar," with their own personal dramas …

DNE

Sawy short film fest held amid Egypt’s cultural turbulence

This time last year, Egypt was in a state of celebration. Seemingly free from the shackles of the Hosni Mubarak regime, Egyptians danced in the naivety of the reverberating chant, “the people and the army are one hand.” Shortly afterwards, Egypt witnessed an outpour of artistic energy and cultural activity manifested in an abysmal display …

DNE

Egypt ‘promises fuel’ for Gaza power plant

GAZA CITY: Egypt has promised to provide diesel fuel for the Gaza Strip’s sole power plant, which shut down this week after running out of fuel, a Gaza official said on Saturday. "Following our contacts with Egyptian officials, there have been serious promises to furnish us fuel from tomorrow (Sunday)," said Ahmad Abu Al-Amrin of …

DNE

Egypt sets NGO trial date, escalating rift with US

CAIRO: Egypt said Saturday the criminal trial of 44 NGO workers will start Feb. 26 in a politically charged case against foreign-funded pro-democracy groups that has badly shaken Cairo’s ties with Washington. The trial represents an escalation in what has become the deepest crisis in US-Egypt relations in decades. American officials have threatened to cut …

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