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House to vote on $700 billion market bailout

29/09/2008

With the House slated to vote Monday on a deeply unpopular $700 billion rescue plan for beleaguered financial companies, President Bush and congressional leaders were scrambling to corral support Bush called the election-year vote a difficult one for lawmakers but said he is confident Congress will pass a measure his top economic officials have

Total Votes: 5

Number of Comments: 0

Posted By: Filtamam

Egypt plans to attract 25m tourists by 2020

13/12/2007

Egyptian minister of tourism Mr. Zuhair Garana announced that the Egyptian government is planning to increase the number of tourists to reach 25 million tourists in 2020

Total Votes: 7

Number of Comments: 0

Posted By: RedEyes

DAMAC introduces theMost Exclusive Residence in Egypt

12/12/2007

DAMAC Properties is hosting a gala dinner at the JW Marriott in Cairo to celebrate the launch of their latest project. The project is located in New Cairo on an expansive lot of 4.7million square meters, it will comprise of exclusive villa development with over 3,000 detached and attached villas. Hyde Park is surrounded by landscaped gardens, 350 meters above sea level, in a gated private and secure community.

Total Votes: 10

Number of Comments: 0

Posted By: Nemo

Saudi Arabia unveils its largest budget in history

12/12/2007

Saudi King Abdullah on Monday unveiled the kingdom’s largest budget in history, earmarking expenditures at SR410 billion ($109.33 billion) and revenues at SR450 billion ($120 billion). It has allocated a record SR105 billion for education and training.

Total Votes: 10

Number of Comments: 0

Posted By: bouby

Dubai-run fund buys Sony shares

12/12/2007

An investment firm owned by the government of Dubai has said it has bought a "substantial stake" in Sony. Dubai International Capital would not disclose the value of the investment, but if it is larger than 5% it will have to be reported to regulators. A 3% stake would cost about $1.5bn (£724m) at Sony's current share price.

Total Votes: 10

Number of Comments: 0

Posted By: bouby

Shares fall despite US rate cut

12/12/2007

US and Asian shares have fallen sharply, despite the interest rate cut from the US Federal Reserve.

Total Votes: 11

Number of Comments: 0

Posted By: Lily

Report on decision to sell Orascom Telecom denied

11/12/2007

Egypt's Orascom Telecom (OT) Chief Executive Naguib Sawiris stated on Sunday the company was "not on auction", denying a report by Britain's Sunday Times newspaper that it had been put up for sale. "Orascom Telecom is not on auction and my family and I have no interest in exiting the telecommunications industry and view ourselves as long term, strategic players," Sawiris said in a written statement to Reuters

Total Votes: 11

Number of Comments: 0

Posted By: mohamed

$28 Billion Gone: Massive Money Market Fund Zapped

11/12/2007

Bank of America is closing off an enhanced money fund to new investors amid withering losses on complex asset-backed securities, the bank said Monday. The Columbia Strategic Cash Portfolio fund for institutional investors that was worth $40 billion only a couple months currently has about $12 billion in assets

Total Votes: 10

Number of Comments: 0

Posted By: Zina

US central bank set to cut rates

11/12/2007

The US central bank is expected to cut interest rates to 4.25% from 4.5% when Federal Reserve officials meet later.

Total Votes: 9

Number of Comments: 0

Posted By: Molly

Skepticism about Mubarak's Succession Threatens Economic Growth

09/12/2007

A global banking institution described the uncertainty about who will succeed President Mubarak as a risk factor for investors that may threaten growth in Egypt. The Citigroup report published by Reuters mentioned that some analysts, however, downplay the issue, given the high value of the Egyptian pound against the dollar,

Total Votes: 9

Number of Comments: 0

Posted By: Cinderella