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Latest in Politics


Median interbank rate steady at 8.5 percent

CAIRO: The median overnight interbank rate on the pound was stable at 8.50 percent on Wednesday, virtually unchanged from Tuesday s 8.506 with the market quiet as traders awaited the results of central bank auctions. The market is quieter today, but everyone is waiting to see the results of the auctions, one dealer said. I …

Daily Star Egypt Staff

OCI posts 53 percent rise in H1 net profit

CAIRO: Orascom Construction Industries (OCI) first-half net profit rose 53 percent on last year to LE 1.2 billion ($210 million), the firm said. The construction and building materials group reported in a statement that earnings before interest, tax, depreciation and amortization (EBITDA) of LE 2.03 billion, 55 percent up on last year. Two analysts said …

Daily Star Egypt Staff

Israel urges nationals to leave Sinai as warning issued

JERUSALEM: The Israeli government urged its nationals to immediately leave Egypt s Sinai Peninsula Wednesday, saying there was a high risk of an attack there targeting Israeli tourists. There have been serious alerts over the past couple of weeks of possible terrorist attacks targeting Israeli tourists in the Sinai and we call on them to …

Daily Star Egypt Staff

Somali refugees might head to Cairo

CAIRO: With the volatile situation in Somalia, the influx of refugees is increasing and Egypt is a potential destination. The Cairo office of the Africa and Middle East Refugee Assistance (AMERA) issued a statement this week asking whether the Somalis fleeing the violence would seek refuge in Egypt. Rough estimates indicate that Egypt is home …

Sarah El Sirgany

Shabana to defend title in shadows of pyramids

CAIRO: Amr Shabana is under no illusions how much pressure he will be under when he starts the defense of his world squash title in front of the pyramids in Giza. The 2006 World Open championships (Sept. 1-6) will take place at one of the most spectacular venues in sport, and the local favorite will …

Daily Star Egypt Staff

Sandy sing-along

  ŠΘ # # # Karika sang and invited anyone to sing with on stage and perform alongside him here are Amy and Doaa Yousry # # The beach party took place at La Plage in Agami on the North Coast, here are Katia Kady and Jehan Abdullah

Daily Star Egypt Staff

DJ Junior talks about the party scene

Local partygoers more interested in the venue than the DJ CAIRO: DJ Junior packs his bag every summer and off he goes to the crazy global party capital of the island Ibiza, where he spins music in a glittering atmosphere filled with wild men and women ready to let go and have a fabulous time. …

Farah El Alfy

Internet giant bases Middle East activities in Egypt

CAIRO: Google Inc., the company behind the world’s most popular search engine, continues to build up its presence in the Middle East and, to the surprise of many, has decided to base its activities in the Middle East and North Africa region in Egypt instead of Dubai. Since Dubai is associated with a healthier investment …

Daily News Egypt

Heavy jail terms handed down in corruption case

CAIRO: A well-known Egyptian businessman and several public bank officials were handed heavy prison sentences Monday in one of the country s highest-profile corruption cases, judicial sources said. Car dealer Hossam Aboul Fotouh was sentenced to 10 years in prison for receiving unguaranteed loan facilities totaling LE 1.4 billion ($243 million). Most of the loans …

Daily Star Egypt Staff

Smoke fears force EgyptAir plane to land in Canada

OTTAWA: An Egyptian airliner flying from Cairo to New York with 313 passengers and 19-member crew made an unscheduled stop in eastern Canada on Monday when smoke was detected in the cockpit, officials said. The Egyptair Boeing 777 landed at Happy Valley-Goose Bay airport in Newfoundland province at about 13:30 p.m. (17:30 GMT), a Canadian …

Daily Star Egypt Staff

Human rights abuses in Egypt, Jordan and Syria

DUBAI: Human rights organizations in Egypt have condemned the Egyptian government for two fatal rail accidents and have continued with campaigns for the release from prison of prominent Muslim Brotherhood members. Elsewhere in the Middle East, poor prison conditions have been highlighted in Jordan and rights groups continued to condemn Syria despite the country signing …

Daily Star Egypt Staff

Angry Israelis demand regime change

Israel is in trouble. Its president Moshe Katsav is being investigated for allegedly raping one of his own staff members. Ehud Olmert, its Prime Minister, is accused of accepting a whopping $500,000 bribe from a building contractor and of making crony political appointments during his former tenure as Minister of Industry and Trade. Its Chief …

Daily News Egypt

Polavara to raise $41 million in rights issue

CAIRO: Textile firm Arab Polavara plans to raise LE 234 million ($41 million) through a rights issue that will double its existing shares, the stock exchange said on Tuesday. The 46,843,280 new shares would be offered to existing shareholders at LE 5 each, the exchange said. It said that Polavara would allow shareholders to buy …

Daily Star Egypt Staff

Resurrecting the past in Abu Sir

Hungarian Egyptologist uncovers the secrets of Taposiris Magna Taposiris Magna: A Temple, Fortress and Monastery of EgyptPublished by Egypt Excavation Society of Hungary, 2004Hardcover, 223 pages CAIRO: West of Alexandria, between the Mediterranean Sea and the freshwater Lake of Mariut, lays Abu Sir, home to the ancient town of Taposiris Magna. A tall tower still …

Aida Nassar

Increased IT development vital to Egypt's future

CAIRO: With studies indicating only 4 percent of Egyptians own computers, the state of information technology in Egypt needs to be reviewed. The country, like the rest of the world, is entering into a vicious circle where increasing accessibility demands a boost in the IT industry, which requires a qualified workforce, which in turn necessitates …

Sarah El Sirgany

Tottenham signs Egyptian Mido

LONDON: Tottenham agreed to re-sign Ahmed Mido from AS Roma on Tuesday. This is almost two months after the Egypt striker left the London club. Mido will sign with Spurs if he gets a work permit, which is a formality, according to the club, which didn t release details of the transfer fee or contract. …

Daily Star Egypt Staff

Celebrity event

  ŠΘ # # # The event was held at the Semiramis InterContinental in Cairo, here, Former Miss Lebanon Katia Kaady and Egyptian singer Essam Karika # # Hady Hatem and Rana El Dighidy

Daily Star Egypt Staff

Dubai no longer an employee's paradise

Rising costs of living are forcing many foreigners homeward bound DUBAI: Ali Mahmoud, 42, is a UAE-based Egyptian expatriate. Having worked between Dubai and Sharjah as a translator for the last 15 years, he has decided to put an end to his career away from home. The reason: for him as well as for many …

Daily News Egypt

Another rail accident. Now what?

Look, there’s good news and there’s bad news. The good news is that if you’re Egyptian, you’re more likely to drop dead of a heart attack than be killed in a transport accident. The bad news is, not much. Figures on those subjects tend to be a little difficult to come by, but it does …

Daily News Egypt

Immortalizing a folkloric epic

Al-Abnoudi reflects on his travels to record Al-Sirah Al-Hilaliyah CAIRO: In an apartment whose décor reflects a passion for everything folkloric lives Abdul-Rahman Al-Abnoudi, one of Egypt’s famous 1960s generation poets, who, if asked to summarize his life in two words, would definitely answer, Al-Sirah Al-Hilaliyah. Al-Sirah Al-Hilaliyah is based on historic events that took …

Daily News Egypt

Mobinil given two weeks to stop using EDGE

CAIRO: Telecoms regulators, embroiled in a licensing dispute with Mobinil over the use of EDGE technology, have given the mobile phone operator two weeks to stop using the technology, government officials said on Sunday. A senior official at Egypt s National Telecom Regulatory Authority (NTRA) said Egypt considered EDGE, whose enhanced speed allows users to …

Daily Star Egypt Staff

Implementing an effective IT infrastructure

Service availability and data management “key challenges for Mideast companies CAIRO: A technology infrastructure conference was held yesterday that targeted CEOs, CIOs and IT company directors and professionals. Its goal was to further inform the attendees about how to best manage a company’s technology set-up while also insure long-term stability and cost-effectiveness. Organized by the …

Wael Elazab

Cabinet reshuffle tops the news

Rumor of a possible train drivers’ strike reported by Al-Masry Al-Youm CAIRO: A minor shuffle in the cabinet is in effect, read Monday’s headlines. Three ministries out of the 31 headed by Prime Minister Ahmad Nazif have been restructured. Nazif remains in office despite previous reports falsely predicting his discharge. According to Al-Ahram newspaper, President …

Pakinam Amer

U.S. seeks Egyptian support on Iran nuclear issue

CAIRO: Washington s top nuclear negotiator held talks in Cairo Monday as part of U.S. efforts to harmonize positions on the response to give to Iran s fast-advancing nuclear program. Working with Egypt is critical to our success, said Gregory Schulte, the chief U.S. representative at the International Atomic Energy Agency, after a meeting with …

Daily Star Egypt Staff

President effects minor cabinet shuffle

CAIRO: President Hosni Mubarak made minor adjustments to his cabinet Sunday, topping the changes with the reassignment of the justice portfolio. The heads of the foreign affairs, interior and defense ministries retained their portfolios. Mamdouh Marei, head of the Supreme Constitutional Court, replaces Mahmoud Abu El-Leil, who resigned 10 days ago from his post as …

Daily Star Egypt Staff

Median interbank rate rises to 8.65 percent

CAIRO: The median overnight interbank rate on the pound rose on Monday to 8.65 percent from Sunday s 8.416 percent with the market short after a recent central bank auction drained market liquidity, traders said. The market is very squeezed. Yesterday s auction absorbed all the liquidity in the market, one dealer said. On Sunday, …

Daily Star Egypt Staff

Sewedy Cables posts $45 million H1 net income

CAIRO: El Sewedy Cables, listed on the stock exchange in May, reported a net income of LE 256 million ($45 million) for the first half of 2006, the stock exchange said on Monday. The results were the first by the cable manufacturer since major shareholders sold 30 million shares, or half of the company, in …

Daily Star Egypt Staff

Three firms bid for stakes in Raya Telecom

CAIRO: Three multinational companies have submitted offers to buy stakes in Egypt s Raya Telecom, a subsidiary of Raya Holding, the stock exchange said on Monday. In a statement on its Web site (www.egyptse.com), the exchange said the offers ranged from bids for a minority interest to a full acquisition of the subsidiary. It did …

Daily Star Egypt Staff