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Latest in Opinion


Etisalat doesn’t see a deal with Reliance this year

DUBAI: Emirates Telecommunications Corp, the Arab world’s second-largest telecom operator by market value, does not expect a deal with India’s Reliance Communications in 2010, its international chief said on Tuesday. Jamal al-Jarwan, Etisalat’s international chief, told Reuters the company is considering different options in the Indian market and did not rule out an investment in …

Reuters

Saudi Arabia raises October crude oil prices

DUBAI: Saudi Arabia raised its official selling prices (OSPs) for its benchmark Arab Light and other grades to customers in Asia, the United States and Europe in October, state oil firm Saudi Aramco said on Sunday. The kingdom raised the price of Arab Light to U.S. customers by 10 cents a barrel to WTI minus …

Daily News Egypt

Emel Mathlouthi: A taste of rebellious world music

“Bulimique — we say in French,” says Emel Mathlouthi, recalling the years when she would gorge on music. “I was discovering all this stuff at the same time,” she says citing influences of Joan Baez, Bob Dylan, Sheikh Imam and Marcel Khalife. “So it was just like ‘wow!’ It was a pretty strong period in …

Chitra Kalyani

BUE’s nursing faculty out to change job’s stigma

CAIRO: Under the slogan “Today’s students in Egypt. Tomorrow’s nurses of the world,” the Maghrabi Mansour International Nursing Faculty (MMINF) at the British University in Cairo (BUE) set out to remove the stigma attached with being a nurse. Its program is leading the way and giving Egypt a new generation of nurses who are determined …

Safaa Abdoun

Egypt’s monthly growth in NIR stable

Monthly growth in Egypt’s Net International Reserve (NIR) position has remained relatively stable in July 2010, inching up by 0.16 percent to $35.27 billion compared with $35.22 billion in June 2010, when it saw a 0.34 percent month-on-month growth, Central Bank of Egypt data showed. Annual growth in NIR slowed down in July 2010 to …

Daily News Egypt Authors

Egypt’s Golden Pyramids scraps S.Valley takeover

CAIRO: Shareholders in Golden Pyramids Plaza, owner of the City-Stars mega-mall in Cairo, have rejected a share swap with South Valley Cement, putting an end to their planned merger, Golden Pyramids said on Sunday. "Most shareholders have no desire to continue the procedures of the acquisition via a share swap," a company statement to the …

Reuters

Egypt investing in broadband infrastructure

CAIRO: Egypt recently allocated $1 billion to invest in broadband internet infrastructure, with the goal of boosting internet subscribers by 4 million come 2014, according to a Euromonitor International report issued in July. The report, “Egypt broadband investment to fuel internet usage,” explains that “improved access to computers, especially amongst higher earners, has caused the …

Christopher Le Coq

Nicki Minaj revives female voice in rap

While the death of hip-hop has been a matter of debate in recent years, the demise of the star female emcee had been all but accepted. There had always been at least one female rap act to contrast hip-hop’s defining male edge, from Queen Latifah to Lil Kim to Missy Elliott to Lauryn Hill. But …

Daily News Egypt

Decoding Egypt: 1967, 2010: The annals of defeat

By Nael Shama It was the summer of 1967, immediately following the Six Day War when an Egyptian PhD student was having coffee with a friend, also Egyptian, at a café in Kurfurstendamm, Berlin’s main boulevard. The tightly packed café allowed for casual chit-chats among strangers, and so the Egyptian friend was caught in a conversation …

DNE

Egypt’s Ezz leaves HRC price same for August bookings

Egypt’s largest steel producer Ezz Steel has not changed its hot rolled coil price for August. Steel Business Briefing is informed by a company spokesperson that the price remains at the July level of LE 3,750/ton ($653/t), without 10 percent sales tax. The company had reduced its HRC price for July bookings by LE 200/t, …

Daily News Egypt

Amazon looking to go ‘mass market’ with Kindle price cut

Amazon, by slashing the price of the Kindle, is hoping to turn its electronic book reader into a device with mass market appeal, one for "serious readers" distinct from Apple’s multi-purpose iPad. Amazon, the pioneer of the e-book business, unveiled a $139 wireless-only version of the basic Kindle, less than six weeks after dropping the …

AFP

Australian, Japanese waters harboring deep secrets, census

SYDNEY: Australia and Japan boast some of the planet’s most diverse oceans but thousands of organisms remain unknown to science and global warming is a huge marine peril, a major new census says. Both Australia and Japan have some 33,000 known species, according to the 10-year scientific survey of marine life called "What Lives in …

Daily News Egypt

Epicor brings ERP solutions to Egyptian businesses

CAIRO: In the past 20 months, business software solutions provider Epicor has more than doubled the number of countries in which its products are sold. Offering single software enterprise solutions, Epicor says its products enable companies to conduct business “without barriers.” And today, these products are available in 50 countries — up from 20 before …

Amr Ramadan

Formosa sells 2 mln bbls Aug Oman crude after fire

SINGAPORE: Taiwan’s Formosa Petrochemical Corp sold nearly 2.0 million barrels of Oman crude for August loading in the spot market after a blast forced it to shut its refinery in late July, trade sources said on Thursday. The company declined to comment on the deal and it was not immediately known who the buyers were. …

Reuters

OT says Algeria hasn’t frozen Djezzy accounts

Orascom Telecom said the Algerian central bank has not frozen its local unit Djezzy’s accounts but it was prohibited from transferring money outside of the country. The largest Arab mobile operator by subscribers, which is in dispute with the Algerian government over a sale of Djezzy, did not refer to a report the unit was …

Reuters

Kuwait’s IIG to halt 2009 dividend

MANAMA: Kuwait’s International Investment Group (IIG) the investment house in the midst of a restructuring process, on Wednesday said its board is proposing not to pay out any dividend for 2009. IIG is one of the Kuwaiti investment houses badly hit during the financial crisis and last month was unable to make a $152.5 million …

Reuters

Kuwait Oil Co awards Petrofac $430 mln contract

KUWAIT: Kuwait Oil Company said on Wednesday it has awarded Petrofac Ltd a 123.3 million dinar ($430.8 million) contract to inject mixed effluent and seawater into 69 wells in northern Kuwait. The state-owned firm said the project in Sabriyah and Rawdatain oil fields was needed to reach a production target of one million barrels a …

Reuters

Oil falls to $82, calm on Iran president attack

LONDON: Oil fell on Wednesday for the first day in five as a rally that powered prices to three-month highs near $83 a day earlier lost steam, with little reaction to an attack on Iranian President Mahmoud Ahmadinejad. Analysts said the market was cautious on moving on the initial reports of the attack. "Prices haven’t …

Daily News Egypt

BlackBerry says it will not let India monitor messages

NEW DELHI: The maker of BlackBerry said Wednesday it hoped for a rapid solution to a security row with the Indian government but insisted it would not allow surveillance of encrypted emails. BlackBerry’s woes in India come as Saudi Arabia announced a suspension of BlackBerry operations starting Friday because security agencies cannot monitor communications sent …

AFP

Kenya votes on new constitution amid high security

NAIROBI: Kenyans formed long lines before sunrise across the country Wednesday to vote on a new constitution that would reduce the powers of the presidency in the nation’s first ballot since post election violence left more than 1,000 dead. Leaders here have called on the country to carry out a peaceful referendum, and promised increased …

Daily News Egypt

Conductor Mitch Miller dies at age 99

Mitch Miller, the goateed orchestra leader who asked Americans to "Sing Along With Mitch" on television and records and produced hits for Tony Bennett, Patti Page and other performers, has died at age 99. His daughter, Margaret Miller Reuther, said Monday that Miller died Saturday in Lenox Hill Hospital after a short illness. Miller was …

Daily News Egypt

Turkish inflation falls to 7.58 pct in July, official data

ANKARA: Turkish prices fell by 0.48 percent from June to July, bringing 12-month inflation to 7.58 percent, the state statistics institute said on Tuesday. Factory gate prices were down by 0.16 percent in the month, marking a 8.24-percent increase over a year, the institute said. The central bank has said it will target an inflation …

AFP

Iran feels sanctions heat at UAE ports, sources

LONDON/DUBAI: Ships carrying petroleum to Iran face greater scrutiny at ports in the United Arab Emirates as new western sanctions bite leaving the Islamic Republic to seek alternative hubs, trade and shipping sources say. While the latest sanctions have excluded Iranian crude oil sales, refined oil products imports have been affected with more ship owners …

Daily News Egypt

Iran oil minister heads to China seeking new investment

TEHRAN: Iranian Oil Minister Massoud Mirkazemi heads to China on Wednesday seeking new investments in the country’s energy sector, including funding for new refineries, a report said on Tuesday. The oil ministry’s news agency Shana reported that Beijing has expressed its desire to invest in the refining sector, an area where Iran is still not …

AFP

Kuwait may consider buying BP assets-oil min

MOSCOW: State-run Kuwait Petroleum International may be interested in buying some of BP’s assets, the country’s oil minister told journalists in Moscow on Tuesday, after meeting with Russia’s Energy Minister. Sheikh Ahmad al-Abdullah al-Sabah said Kuwait was satisfied with its current BP investments, although Kuwait Petroleum would consider investing further if assets put up for …

Daily News Egypt

Egypt mediates Sudanese unity talks

CAIRO: Egypt mediated talks in Cairo Monday between the Sudanese ruling National Congress Party (NCP) and the southern Sudan People’s Liberation Movement (SPLM) to discuss issues pertaining to the January referendum regarding the possible secession of the South. Under the 2005 Comprehensive Peace Agreement between Khartoum and the South, the people of southern Sudan will …

Abdel-Rahman Hussein

Egypt index dips, ending 8-day rally

Commercial International Bank led Egypt’s main index lower, ending eight sessions of gains, traders said. "The market saw some profit taking. Institutional investors offloaded positions in the financial and telecoms sectors in specific," said Mohamed Radwan of Pharos Securities. Commercial International Bank declined 3.2 percent, EFG-Hermes 0.5 percent, and Telecom Egypt 1.5 percent. Talaat Moustafa …

Reuters

BP asks Kuwait sovereign fund to raise stake, Kuwait denies offer

KUWAIT: BP Plc has asked Kuwait’s sovereign wealth fund to raise its share in the company to three percent, the Al-Anbaa newspaper reported on Monday. Quoting a Kuwait Investment Authority official it did not identify by name, the paper said BP’s outgoing chief executive, Tony Hayward, made the offer in a telephone call to the …

Reuters

Iran’s Ahmadinejad says oil price “unrealistic”

TEHRAN: Iranian President Mahmoud Ahmadinejad said on Monday that crude oil prices were too low due to efforts by some countries to keep it down to help economic recovery, the semi-official Fars news agency reported. "Oil has not found its (real) economic status, and its price, under the influence of some countries, is always unrealistic …

Reuters