Beltone has downplayed its plans to expand into Algeria, saying it was in preliminary discussions and does not have a year-end deadline.   Al-Mal newspaper had quoted director Aly El Tahry as saying Beltone was talking to two Algerian investors about setting up an Algerian bank with a full range of investment banking services …

CAIRO: Hull City will once again miss Amr Zaki when they face Stoke City on Saturday as the Egyptian has yet to recover from injury. Zaki sustained a knee injury in training two weeks ago and manager Iain Dowie has confirmed his unavailability for the weekend’s crucial clash. "That’s going to run on a little …

CAIRO: Zamalek are set to make an official request to the Egyptian FA suspecting that some Egyptian Premier League players might be using performance-enhancing drugs. "The Zamalek management, in association with the board, will request a precise assessment from the FA for drug tests in the league," football director Ibrahim Hassan told the club’s official …

Egypt’s Raya Technology and Communication made a net profit of LE 41.3 million ($7.5 million), down 23 percent on a year earlier, the stock exchange said on Tuesday. The firm, which sells mobile handsets, runs call centers and provides outsourced IT services, made LE 53.4 million in 2008.

Shareholders in Egyptian International Pharmaceutical Industries Co (Eipico), approved a dividend of LE 1.1 ($0.2) per share and one free share for every 10 owned, the firm said on Sunday. The dividends will be paid during the last week of April, said finance chief Mohamed Nader. Eipico, Egypt’s biggest drug exporter, previously reported a 15 …

Pioneers Holding’s 2009 net income fell 62 percent to LE 105.7 million ($19.22 million), the stock exchange said on Monday. Net income at the financial services firm was LE 276.0 million in 2008. Pioneers earlier this month signed a deal completing its takeover of Egyptian investment bank Beltone Financial.

CAIRO: An electric fire caused Essam Al-Hadari’s house to be badly damaged but no one was hurt. The Egypt and Ismaili goalie wasn’t at home when the apartment caught alight, FilGoal.com understands. His wife, son and one of his three daughters were there but all vacated the building on time and now are understood to …

CAIRO: Emerging markets will be the main drivers of economic growth for the next five years, according to Robert Parker, vice president of asset management for Credit Suisse. “Not that the developed world will go back to recession… We shouldn’t write off the developed economy, but the next few years will clearly be painful. Unit …

CAIRO: One of the potential winners of the global financial crisis, Egypt has maintained a relatively high level of income from Suez Canal and tourism receipts, spurring a GDP growth rate of nearly 5 percent. However, on the back of a massive stimulus spending package in 2009, the country is looking to take advantage of …

In a session discussing scenarios for sustainable energy titled “Fueling the Future, participants from leading energy companies and government representatives discussed the challenges that lie ahead. Springing from a notion that high oil prices and climate change regulations will create business opportunities in green technologies and innovations and that the Middle East will face the …