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Latest in Opinion


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

Exhibition gathers both heirs to marvel at Picasso and Klee

  An exhibition in Switzerland has brought together the genius of modern art contemporaries Pablo Picasso and Paul Klee with an added twist: the first meeting of their two heirs.   Picasso and Klee the elders, among the most influential artists of the 20th century, met only twice. Once when Klee (1879-1940) was among a …

AFP

Shuaa names Shihabi as brokerage unit CEO

DUBAI: Dubai-based investment bank Shuaa Capital named Walid Shihabi, a former head of research at the firm, as the brokerage division’s new chief executive. Shihabi succeeds Mohammed Ali Yasin, whose resignation last week has knocked 7 percent off the share price of the brokerage arm of the United Arab Emirates’ top investment bank. Yasin will …

Daily News Egypt

Analyzing MENAP recovery patterns provides vital lessons in new report

CAIRO: The growth in economies of the region comprising the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) will gather momentum in 2010, but stay below pre-crisis levels, a recent report said. “The timing of this report and this event is of utmost importance as the world is emerging from the economic crisis,” said Magda …

Amr Ramadan

Oil falls below $75 on China demand doubts

LONDON: Oil fell below $75 a barrel on Thursday, beginning the second half of the year on a weak note after falling nearly 5 percent in the first half, as signs of slowing economic growth in China fuelled energy demand doubts. The pace of manufacturing growth in the world’s second largest oil consumer slowed in …

Daily News Egypt

Pakistan's blasphemy laws need reforming

KARACHI, Pakistan: Sadly, the recent violence against the Ahmadi community, which left 80 worshippers dead at an Ahmadi mosque in Lahore, is not a new phenomenon. Religious minorities in Pakistan — particularly Ahmadis, Christians, Shia and Hindus — have been increasingly persecuted in Pakistan in recent decades. Their rights are routinely violated on the premise …

Daily News Egypt

Air Arabia Egypt flies to Beirut

  Low cost-carrier Air Arabia will begin services to Beirut, Lebanon, from its third hub in Alexandria starting July 1, according to a statement.   Roundtrip flights to Air Arabia fourth destination from its Egyptian hub will operate four times per week between Burj Al Arab International Airport, Alexandria and Beirut-Rafic Hariri International Airport, Lebanon. …

Daily News Egypt Authors

Contact to sell $83 mln in securitized notes

CAIRO: Egyptian car purchase financer Contact on July 7 is selling LE 470 million ($83 million) in bonds securitizing expected car payments, the chief underwriter said on Monday. The bond, Contact’s sixth since the company entered the market about 10 years ago, consolidates LE 623 million in receivables whose underlying assets are more than 5,000 …

Reuters

Stevie Wonder cheers up Glastonbury after football failure

Motown legend Stevie Wonder made sure Glastonbury’s 40th anniversary came to a joyful end on Sunday despite England’s disheartening World Cup football defeat. The American soul pioneer treated the audience at the British music festival to a greatest hits set, with "I Just Called To Say I Love You" and "Superstition" receiving a rapturous response …

AFP

Basra oil exports partly recover from sandstorm

BAGHDAD: Oil exports from Iraq’s southern oil hub of Basra partly recovered on Monday to 1.08 million barrels per day after disruption by a sandstorm over the past two days, a shipper said. Exports had fallen to 720,000 barrels per day on Sunday from 1.68 million bpd on Friday as the sandstorm reduced visibility, said …

Reuters

Activists' trial adjourned to July 17

CAIRO: The case against three human rights activists was adjourned until July 17 on Saturday, after the judge approved defense lawyers’ request for an adjournment. Ahmed Seif El-Islam Hamad and Gamal Eid, directors of the Hisham Mubarak Law Center (HMLC) and Arab Network for Human Rights Information (ANHRI) respectively, have been charged with libel, blackmail …

Sarah Carr

EFG takes over Jordanian brokerage firm

CAIRO: EFG-Hermes announced Thursday that it had agreed to buy a Jordanian brokerage firm, Tadawol for Securities and Financial Services, for JD 3.85 million ($ 5.4 million). According to Reuters, EFG-Hermes said that it will assume management control of the business, which will be renamed EFG-Hermes Jordan. Waleed El Naasan, CEO of EFG Hermes Jordan, …

Daily News Egypt

Ministry of Solidarity to launch electronic ration cards

CAIRO: The Ministry of Social Solidarity will begin distributing electronic ration cards next week to families with monthly incomes below LE 1,000 and people receiving pensions under LE 750. Sources inside the ministry told Daily News Egypt on Thursday that they are working out the final details with the Ministry of Administrative Development and the …

Safaa Abdoun

Common myths about SME banking

In Egypt, like in all other developing and developed countries, small and medium enterprises (SMEs) constitute a large proportion of the nation’s economic activity — contributing to over 50 percent of GDP and almost two-thirds of employment. As such, this sector is increasingly being considered as an attractive commercial opportunity for banks. Some banks have …

Daily News Egypt

Religious scholar opposes Christian leadership

CAIRO: During her appearance on the talk show “Manchet” with Gaber Al-Qarmouty, Islamic studies scholar, Souad Saleh stirred controversy after she said it is against the Islamic Sharia for a Christian to assume the presidential role in Egypt, seeing as it is a Muslim-majority country. In Saleh’s opinion, Christians should be given the opportunity to …

Daily News Egypt

'Toy Story 3' finds big play time with $109 mln debut

Movie fans have not outgrown the "Toy Story 3" gang. The animated sequel about toys that come to life leaped to the No. 1 spot with a $109 million opening weekend, according to studio estimates Sunday. "Toy Story 3" became the third animated film to top $100 million in the first weekend, joining "Shrek the …

AP

Telecom Egypt approves LE 0.55 dividend

CAIRO: Telecom Egypt has approved a LE 0.55 ($0.10) interim dividend for 2009, after earlier distributing LE 0.75 pounds, a company source said on Sunday. Although it was distributed in two parts, the dividend matches the LE 1.30 dividend for 2008 and was in line with analysts’ expectations. The company had withheld part of the …

Yasmine Saleh

Death in Alexandria

By Rania Al Malky CAIRO: The iconic image of the disfigured face of Khaled Saeid will haunt you for a long time. So if you haven’t seen it already, think a hundred times before you do. In this newspaper, we unanimously agreed not to run the morgue photographs of the alleged victim of a police beating …

DNE

Egypt to restore free zone status to refineries

Egypt’s parliament has agreed to restore free zone status to oil refineries, newspapers reported on Wednesday, potentially removing a hurdle that had deterred foreign investment in the country’s energy sector. Egypt’s government had cancelled oil refiners’ free zone status, which gives them tax breaks and other advantages, as part of broader changes to its free …

Reuters

No more tomorrows for Orphan Annie comic strip

Little Orphan Annie, the plucky redheaded star of Broadway musical and comic strip fame, has run out of tomorrows — at least in print. The pop culture icon who sang and danced her way to international fame in the Broadway musical that gave us tunes such as "It’s The Hard-Knock Life," and "Tomorrow," ended her …

AFP

Tens of Copts demonstrate near parliament

CAIRO: Tens of Copts demonstrated Sunday in front of parliament, demanding the People’s Assembly pass a unified personal status law for Copts and another regulating the construction of houses of worship. The demonstration, which was organized by the Egyptian Union for Human Rights Organization, featured the participation of 11 groups representing Diaspora Copts from the …

Essam Fadl

Egypt inflation falls to 10.5 pct in May, nine-mth low

CAIRO: Egypt’s annual urban inflation rate, the most closely watched price indicator, fell to 10.5 percent in May, its lowest level since August and giving the central bank more latitude to keep key interest rates steady. Core annual inflation rose to 6.69 percent in the year to May from 6.62 percent in April, the central …

Sherine El Madany

Aguilera not her usual chart-topping self, yet

Over a synth-heavy dance track, Christina Aguilera sings on her new album: "Every day I see myself I love me even more. … Let us not forget who owns the throne." Then, her son Max’s voice pipes up: "You do, Mommy." Does she? Aguilera is returning to music after four years away from stadium tours …

Daily News Egypt

Leading Iran woman journalist gets 30-year ban from writing

TEHRAN: Iran has sentenced award-winning woman journalist Jila Baniyaghoob to jail for one year and banned her from writing for 30 years over post-election unrest, a newspaper reported on Wednesday. Baniyaghoob, 39, "has been sentenced to one year in jail and banned from journalistic work for 30 years," moderate daily Shargh said. Baniyaghoob, who had …

AFP