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Latest in Politics


Promoting commitment to public service

CAIRO: Initiating activities aimed at engaging students in community service, fostering their efforts toward lifelong commitment and promoting philanthropy in the region are the main objectives of the newly inaugurated John D. Gerhart Center for Philanthropy and Civic Engagement. The center commemorates Gerhart’s legacy, the ninth president of the American University in Cairo (AUC). Gerhart, …

Sarah El Sirgany

Median o/n interbank falls to 8.45 percent

CAIRO: The median overnight interbank rate on the Egyptian pound fell to 8.45 percent on Tuesday from 8.598 percent on Monday as funds maturing into the market outstripped those sought in new auctions, traders said. Maturities today and tomorrow are larger than the auction which is meant to cover them, one of the traders said. …

Daily Star Egypt Staff

Muslim Brotherhood launches bird flu awareness campaign

CAIRO: The Muslim Brotherhood has launched an awareness campaign of its own to contain the spread of bird flu and assist Egypt s dilapidated poultry industry. Strongly criticizing the government s handling of the recent outbreak in Egypt, the banned but tolerated group has sought to put their recent parliamentary gains into action through financial …

Vivian Salama

Activists condemn curbs on internet

CAIRO: Rights groups have condemned several Arab governments for blocking Web sites devoted to freedom of speech on political and social issues, calling the move an attempt to limit the free exchange of information. Most Arab governments largely oppress freedoms of the press and expression, said Cairo-based Arabic Network for Human Rights Information s (HRinfo) …

Daily Star Egypt Staff

EFG-Hermes drags stocks down

CAIRO: Retail market leader EFG-Hermes dragged Egyptian stocks down on Tuesday in a market driven by anxieties over a 16 percent decline in the benchmark index over the past five weeks, brokers said. In a market lacking news, small investors watched shares in the investment bank fall and many of them decided to reduce their …

Daily Star Egypt Staff

The third operator is calling

CAIRO: Chairman of the National Telecommunication Regulatory Authority (NTRA), Amr Badawy, announced that bidders with local partners will have more weight than those without and will immediately receive 25 of the 1550 evaluation points. Badawy also denied that having an international partner with over 51 percent is a condition for making a bid. This does …

Najla Moussa

Egypt, South Korea pledge to boost trade ties

CAIRO: The presidents of Egypt and South Korea pledged Tuesday to work to boost relations and increase the volume of trade between their countries that amounted last year to around $850 million. President Hosni Mubarak and his visiting South Korean counterpart Roh Moo-Hyun also covered international and regional issues, especially the Palestinian-Israeli conflict and Iraq. …

Daily Star Egypt Staff

Principles of governance

CAIRO: Transparency and governance of corporations are increasingly important issues as public participation in capital markets grows. The popularity of the stock market was clearly demonstrated with several of last year s privatization offerings, including Telecom Egypt, for which numerous individuals put aside their savings to purchase shares. Furthermore, as local companies turn to foreign …

Waleed Khalil Rasromani

Median o/n interbank steady at 8.6 percent

CAIRO: The median overnight interbank rate on the Egyptian pound was 8.6 percent on Monday, little changed from Sunday s 8.583 percent as bankers awaited the result of a 182-day T-bill auction. It s the same levels as yesterday, one banker said of overnight rates. The central bank was auctioning treasury bills worth LE 1.5 …

Daily Star Egypt Staff

EFG-Hermes says 2005 net profit up about 560 pct

CAIRO: Cairo-based EFG-Hermes Holdings said on Sunday its unaudited 2005 net profit had risen by about 560 percent to between LE 348 million and LE 356 million ($60.73 million and $62.13 million). The firm, which earned LE 52 million in net profit in 2004, said in a statement posted on the Egyptian bourse s Web …

Daily Star Egypt Staff

Press round-up

CAIRO: National newspapers have gone back to their custom of dedicating their headlines to announcing government-related plans and presidential events, while opposition papers have their front pages dedicated to corruption cases, updates on the tragic ferry accident and bird flu summaries. Al-Ahram reports a joint summit between Egypt and South Korea due to start Tuesday …

Pakinam Amer

Opinion

CAIRO: Amr Khaled’s efforts to organize venues for dialogue between Muslims and Danes have put him under attack, not from Western critics, but from local religious leaders, who say Khaled’s initiative undermines their own efforts, implying the young preacher has a hidden political agenda. Last weekend, Cairo demonstrators protested Khaled’s move. Other demonstrations throughout the …

Sarah El Sirgany

Ancient war goddess statues unearthed in Egypt

CAIRO: A team of Egyptian and German archeologists has unearthed six statues of the lion-headed war goddess Sekhmet during restoration work at an ancient temple in the southern city of Luxor, officials said Monday. The team found the artifacts in the Kom Hitan area on the location of the 18th dynasty (1580-1314 BC) temple of …

Daily Star Egypt Staff

Taking it to the streets

CAIRO: On Thursday, March 2, the Movement of Writers and Artists for Change (MWAC) held a street performance in Talaat Harb Square that included the recital of lyrics by famous poet Ahmed Foad Negm and Sayyed Higab, as well as songs by young artists in the movement. This was the movement’s first appearance since the …

Daily News Egypt

Chinese delegation to continue business with Alexandria

CAIRO: A delegation of Chinese investors will visit Alexandria today to discuss bilateral business opportunities between China and Alexandria with potential local business partners. According to the chairman of the Alexandria Chamber of Commerce, Mostafa El Naggar, the group will discuss the possibility of establishing joint trade fairs for both Chinese and Egyptian businesses in …

Najla Moussa

South Korean president heads to Africa

SEOUL: South Korean President Roh Moo-hyun left on Monday for a three-country tour of Africa, where securing steady energy supplies for his resource-poor country will be high on the agenda. Roh will visit Egypt, Nigeria and Algeria, in a first trip by a South Korean president to the region in 24 years, the presidential Blue …

Daily Star Egypt Staff

Hala Gorani Interview

CAIRO: In one of her news reports, CNN’s Hala Gorani learned to stuff pigeons. As it took 14 takes to get the right shot, Gorani eventually got “pretty good at it. Another time, she learned all about Aleppoan food, the best culinary offerings of her hometown. It’s not just cooking though; “Inside the Middle East, …

Sarah El Sirgany

More Brotherhood members arrested

CAIRO: Security forces arrested five members of the Muslim Brotherhood on Sunday in what the opposition Islamist group said was the latest sign of curbs on political freedoms. An Interior Ministry official said the arrested men were found in possession of anti-government publications. By making the arrests, the government was sending a message to Egyptian …

Daily Star Egypt Staff

Leading German cap producers inaugurate factory in Egypt

CAIRO: The German group BERICAP inaugurated its new cap factory in Egypt yesterday. The group is a leading international manufacturer of plastic caps for a wide range of containers, including those for food, pharmaceutical and cosmetic products. It has production facilities in 16 countries, including the United States, the United Kingdom, Spain, China and Turkey. …

Waleed Khalil Rasromani

Median o/n interbank steady at about 8.65 percent

CAIRO: The median overnight interbank rate on the Egyptian pound was broadly unchanged on Sunday at 8.65 percent compared to 8.631 percent on Thursday with no new factors affecting liquidity, traders said. Demand was also quiet in the middle of a two-week central bank period to calculate banks reserves, the traders added. The market is …

Daily Star Egypt Staff

EgyptAir made $75.2 million profit last year

CAIRO: State carrier EgyptAir, 20 percent of which the government is preparing to sell, made a profit of LE 431 million ($75.2 million) last financial year, the chairman of the company said on Friday. Atef Abdel Hamid, chairman of EgyptAir Holding Company, said the sale of the 20 percent stake would not take place until …

Daily Star Egypt Staff

Reporters and housing minister reconcile

CAIRO: In an unexpected change of heart, former Housing Minister Ibrahim Suleiman agreed to reconcile with the press, reportedly withdrawing more than 30 libel cases and petitions that he had brought against journalists in the past few years. The official withdrawal annuls a one-year sentence issued last week against Al-Masry Al-Youm journalist Abdel Nasser Al-Zoheiry, …

Pakinam Amer

Paradise Now sparks anger on Oscar night

CAIRO: For the Arab world, the stakes were high at this year’s Academy Awards. Palestinian director Hany Abu-Assad’s controversial film, Paradise Now, has already won Hollywood’s second highest honor, the Golden Globe, last month and so many predicted it would walk away with the Oscar last night as well. The Arabic-language film documents 27-hours in …

Vivian Salama

Arab League decides to open office in Baghdad

CAIRO: The Arab League decided on Saturday to open an office in Baghdad as part of its preparations for a reconciliation meeting of Iraqi politicians to be held in Iraq in June, Egypt s foreign minister said. Abul-Gheit made his comments after a meeting of Arab foreign ministers at the 22-member Arab League s Cairo …

Daily Star Egypt Staff

Quiet surrounding voter registration angers opposition

CAIRO: Egyptians have until March 9 to register tand receive a voting card, which allows the holder to vote in any future presidential elections or national referendums. The lack of publicity of the registration process has come under pressure from opposition groups. Many, including the Kefaya movement, believe that this is due to the National …

Joseph Mayton

A walk-in kaleidoscope

CAIRO: What is a Kaleidoscope? According to the Merriam Webster dictionary, it is an instrument containing loose bits of colored material, perhaps glass or plastic, between two flat plates and two plane mirrors. So placed that changes of orientation of the bits inside are reflected in an endless variety of patterns. Now imagine that this …

Farah El Alfy

Investors eyeing textile industry

CAIRO: According to the Ministry of Trade and Industry, international investors are eyeing the Egyptian textile industry. The ministry stated that it is developing and aiding in the growth of textile companies in order to meet the demands of European importers and global markets. “A number of initiatives and programs have already begun to assist …

Najla Moussa

CAREER

CAIRO: So, you’re fresh out of university. You’ve got a lifetime of excitement ahead of you; paying bills, buying a house or apartment, starting a family with expenses, expenses and expenses. The first step is to find a job, not a job in daddy’s company, a job that you earned and genuinely want to do. …

Vivian Salama

Morning cravings

CAIRO: It’s customary to go out for lunch or dinner; those favoring late night meals also have their preferred locales. The breakfast market, meanwhile, has long been cornered by the numerous fuul and taamiya outlets available on almost every street in the city. That, however, seems to no longer be the case, as many restaurants …

Sarah El Sirgany