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Latest in Opinion


Iraq unlikely to allow Iran banks due to sanctions

BAGHDAD: Two Iranian banks seeking to open branches in Iraq are unlikely to get government approval due to economic sanctions imposed on Tehran in a row over its nuclear program, an Iraqi central bank official said on Sunday. Last month, Iraq’s central bank said the OPEC member was in talks with six or seven foreign …

Daily News Egypt

Jordan Phosphate Mines H1 profits down 48 pct

AMMAN: Jordan Phosphate Mines Co (JMPC), one of the world’s largest phosphate suppliers, posted a 48.5 percent drop in first-half net profit to 34.6 million dinars ($48 million), the firm said on Sunday. JMPC also reported second-quarter net profit fell to 24.6 million dinars, down 32 percent from the same period a year ago.  

Daily News Egypt

Abu Dhabi SWF joins M.Stanley in UK rail bid-paper

DUBAI: The Abu Dhabi Investment Authority (ADIA) has agreed to join Morgan Stanley and private equity group 3i in a bid for the high-speed railway linking London with the Channel Tunnel, Abu Dhabi’s National newspaper said. State-owned ADIA, considered the world’s largest sovereign wealth fund, is in the "very early stages" regarding its involvement in …

Reuters

Iran resumes gas exports to Turkey – gas official

TEHRAN: Iranian natural gas began flowing to Turkey again on Saturday after a damaged pipeline linking the two countries was repaired, the Iranian oil ministry news website SHANA reported. "Officially the reason for the cut in gas transfer was said to be due to technical difficulties, but naturally everyone knows about the explosion at the …

DNE

Doctors Without Rights protest against new accreditation body

CAIRO: In a demonstration by Doctors Without Rights at the Doctors’ Syndicate Sunday, 40 demonstrators protested against new rules that would put an end to university-funded postgraduate studies. Dr Mona Mina, spokesperson of the group, and Dr Nagah Abdel Rehim explained that they only found out “by accident” about the formation of a new accreditation …

Daily News Egypt

Did the marijuana wrap kill Khaled Saeid?

By Rania Al Malky CAIRO: Just when I thought that there’s no more to be said about the autopsy reports on now iconic torture victim Khaled Saeid, which found that he asphyxiated on a marijuana wrap, more inquiries raise new questions about how the 28-year-old Alexandrian really died. In coordination with the Nadim Center for the …

DNE

Sharjah: Industrious emirate

DUBAI: Sharjah is moving to strengthen the foundations needed for industrial expansion, building on existing infrastructure and working to attract further investment to its manufacturing sector, both at the direct production level and for supporting services. Industry is one of the mainstays of the emirate’s economy and that of the wider UAE, with Sharjah contributing …

Daily News Egypt

Languages, alliances key to IBM Egypt BPO offering

CAIRO: Egypt’s language skills and good working relationships between government, business and academia make it a strategic choice for growth, an IBM executive in charge of Egyptian business process operations (BPO) said. Egypt is eager to develop its IT and related sectors with a view to bringing in $10 billion a year from offshoring by …

Reuters

Natural gas could lead to new Lebanon-Israel war

BEIRUT: The discovery of large natural gas reserves under the waters of the eastern Mediterranean could potentially mean a huge economic windfall for Israel and Lebanon, both resource-poor nations — if it doesn’t spark new war between them. The Hezbollah group has blared warnings that Israel plans to steal natural gas from Lebanese territory and …

AP

EU hits Iran with new sanctions, urges nuclear talks

BRUSSELS: The European Union hammered Iran on Monday with fresh sanctions against its vital energy sector as Brussels cranked up pressure on Tehran to resume talks on its disputed nuclear program. Foreign ministers formally adopted punitive measures which were approved last month by EU leaders, going beyond a fourth set of UN sanctions imposed over …

Daily News Egypt

Foreign investments in oil exploration hit $16.2 bln

The volume of foreign investments in oil and gas exploration in Egypt hit $16.2 billion in the last fiscal year, the petroleum minister said, according to the Global Arab Network. Minister of Petroleum Sameh Fahmy said 22 agreements were signed during the two years of global financial crisis with international companies working in the field …

Daily News Egypt Authors

“Liberty” and the talking drum

The rubbery resonant sound of the “talking drum” can sometimes be distinguished over the percussion while Nigerian band Liberty Jazz performs at the River Hall at Sawy Culture Wheel on Friday. Closely imitating the intonations of spoken language, talking drums were once used to convey messages over distances. According to the Yoruba belief system in …

Chitra Kalyani

Arab Cotton Ginning ‘in talks’ for acquisitions

Arab Cotton Ginning of Egypt is “in talks” to acquire companies specializing in weaving, shirt-making, dyeing and bed linen, Chairman Hani Olama said. “Already we have targets in Egypt and abroad,” Olama told Bloomberg in an interview. Arab Cotton Ginning, which was privatized in 1996, plans to grow its business in Egypt and abroad to …

Daily News Egypt

AE cbank dismisses Iran idea of dirham oil trade

DUBAI: The United Arab Emirates central bank governor dismissed on Tuesday reports that Iran may seek payment in dirhams for its oil exports to Europe to get around sanctions, saying the UAE had no time for jokes. An Iranian official said on Sunday Tehran was discussing internally the idea of switching to dirhams from euros …

Daily News Egypt

Syria bans full Islamic face veils at universities

DAMASCUS: Syria has forbidden the country’s students and teachers from wearing the niqab — the full Islamic veil that reveals only a woman’s eyes — taking aim at a garment many see as political. The ban shows a rare point of agreement between Syria’s secular, authoritarian government and the democracies of Europe: Both view the …

Daily News Egypt

Oriental Weavers ups production capacity by 15 pct

  Oriental Weavers has added four new production lines to its plants in the domestic market, Al-Borsa reported citing Haitham Abdel Menem, investor relations manager of Oriental Weavers.   The company has completed selling this month production lines of Belgium weaving plant and tested the first two production lines in order to start the actual …

Arab Finance

Saudi’s SABIC upbeat despite Q2 profit worries

RIYADH: Saudi chemicals company SABIC said excess stocks should be less of a problem and prices were stabilizing in the second half as its shares fell on quarterly results that showed weak prices hurting profits. At news conference on Monday after Sunday’s results undershot analysts’ forecasts, Saudi Basic Industries Corp also said it had no …

Reuters

Lebanon is booming but no end to power outages

BEIRUT: On a typical night out in Beirut, glitzy nightclubs thrum with revelers, tourists pack breezy seaside restaurants and the lights from brand-new, million-dollar skyscrapers dot the horizon. But beneath Lebanon’s gleaming exterior lies a creaky, third-world infrastructure that is preventing the country from fully emerging from its war-torn past. With the summer heat bearing …

AP

Occidental, Pertamina mull Sonangol’s Iraq deals

BAGHDAD: US oil major Occidental Petroleum Corp and Indonesian state oil firm Pertamina have shown an interest in taking a stake in Sonangol’s two Iraqi oilfield development projects, a company official said Sunday. "Our proposal will be for Sonangol to have a percentage of 45 percent … in Najmah and Qayara," Sonangol executive J. da …

Daily News Egypt

Germany seeks private sector role in Egypt’s development policy

CAIRO: Germany, Egypt’s third largest bilateral donor, is looking to increase private sector cooperation in the country’s development policy toward Egypt, an official said. Dirk Niebel, Germany’s minister for economic cooperation and development, called the new approach “a paradigm shift” in the country’s development policy. A meeting Wednesday hosted by the German-Arab Chamber of Industry …

Christopher Le Coq

Middle East Ensemble puts music in a cultural context

F or Scott Marcus, the idea of a trip to Egypt in the early 80s did not only stem from a desire to stand in awe at the Giza Pyramids; it was his thirst for world music, and Middle Eastern melodies in specific that propelled his journey, and the many that followed. He quenched his thirst …

Heba El-Sherif

Polanski only safe in France, Poland, Switzerland

Roman Polanski may once again be seen on the red carpet at Cannes — but he won’t be attending the Venice Film Festival or the Oscars anytime soon. Freed from Swiss house arrest after the government refused to deport him to the United States, the 76-year-old movie director still faces an Interpol warrant in effect …

Daily News Egypt

De Gaulle at the Barricades

LONDON: By coincidence, this is a busy year for round-number anniversaries for France’s greatest leader since Napoleon. Charles de Gaulle was born 120 years ago in Lille. He died 40 years ago at his home in Colombey-les-deux-Églises, expiring of a heart attack as he played solitaire one evening. Seventy years ago, he delivered his celebrated …

Daily News Egypt

Mubarak-Netanyahu meeting postponed to Wednesday

CAIRO: A meeting between Egyptian President Hosni Mubarak and Israeli Prime Minister Benjamin Netanyahu in Cairo has been postponed by a day until Wednesday, a presidential source said. Netanyahu had been due to head to Egypt on Tuesday to discuss with Mubarak Israel’s "intention to move to direct negotiations with the Palestinians." "The meeting has …

AFP

Parliament gives Iraq leaders two more weeks to form govt

BAGHDAD: Iraqi politicians on Monday extended an inaugural parliamentary session by two weeks to give rival blocs more time to form a government, more than four months after an inconclusive poll. "The leaders of the political parties met today but they did not find a solution so they decided to extend the session by two …

AFP

Egypt plans 100 MW solar power plant by 2017

  Egypt plans to build a 100 MW solar power plant between 2012 and 2017, after its first solar plant starts this year, the Electricity Ministry said on Friday.   Egypt aims to generate 20 percent of its power from renewable sources by 2020. Solar projects have lagged behind wind, but the country’s first solar …

Reuters

National Instruments expands operations with Egypt office

CAIRO: Little known US-based National Instruments (NI) will expand its Egypt operations by opening an office in Cairo by the end of the year, officials said at a conference last week. NI, a high-tech company that provides software and hardware solutions to scientists and engineers in research, development, production and test, and service industries, will …

Christopher Le Coq

YouTube wants viewers to ‘leanback,’ stay longer

SAN BRUNO, Calif: YouTube is trying to become as brainless and painless to watch as the boob tube. In the process, the Web’s leading video site hopes to learn enough about its viewers to replace their remote control. Those ambitions came into sharper focus Wednesday with debut of a YouTube format called "Leanback." The feature …

AP

Saudi investors eye 10-15 pct stake in BP, says paper

RIYADH: Unnamed Saudi investors seek to buy a stake worth 10 to 15 percent in British Oil Company BP dealing with a massive US oil spill, a Saudi newspaper said in an unsourced report on Wednesday. A delegation of Saudi investors will be heading to London for direct talks with BP, said Al-Eqtisadiyah, the main …

Reuters

Gaza wall case referred to state authority for legal opinion

CAIRO: The State Council decided Monday to refer the lawsuit against the building of the Gaza underground barrier to the State Case Authority before rescheduling the next session for Sept. 21. A verdict on the lawsuit, filed by former diplomat Ibrahim Yousri, was expected on Monday’s session but instead the State Council’s Administrative Court decided …

Abdel-Rahman Hussein