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Latest in Opinion


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

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