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Business Egypt

  • CAIRO, Oct 4- A Cairo court sentenced the former chairman of Ezz Steel to jail for seven years on graft charges on Thursday, the second such sentence handed to the businessman and ex-official in ousted leader Hosni Mubarak's party.

  • CAIRO, Oct 3- Egypt's prime minister said an IMF team would come to Cairo in the last week of October to resume talks on a loan sought by his government, which was still working on the major issue of how to reduce fuel subsidies.

  • DUBAI, Oct 3- Dubai's bourse hit its highest level in five months, while Abu Dhabi's index ended at a fresh 14- month high, as confidence in the reviving local property market boosted real estate stocks.

  • CAIRO, Oct 3- A trickle of foreign donor aid looks like Egypt's best hope of averting a balance of payments crisis for now because many of the investors who fled the country last year are loath to return until the government seals a loan from the IMF.

  • CAIRO, Oct 3- Egypt's prime minister said on Wednesday that an IMF team would come to Cairo in the last week of October to resume negotiations on a loan sought by Egypt and that his government was still working on the key issue of how to reduce fuel subsidies.

  • DUBAI, Oct 3- Dubai's Emaar Properties will set up a new joint venture with the Iraqi government to develop housing in the war-torn country, Iraq's construction and housing minister said on Wednesday. Nine years after the United States invaded Iraq to topple Saddam Hussein, there are signs that foreign investment in the country is finally building momentum.

  • CAIRO, Oct 3- Egypt's prime minister said on Wednesday that an International Monetary Fund team will come to Cairo in the last week of October to resume negotiations on a loan sought by Egypt. Egypt has been negotiating a $4.8 billion loan from the fund, but has indicated it may seek to increase that amount.

  • Oct 3- Here is a look at protests in Iran as clashes break out in Tehran over the collapse of the rial currency:. Several people are killed in Tehran and other cities when thousands take to streets.

  • Oct 3- Here is a look at protests in Iran as clashes break out in Tehran over the collapse of the rial currency:. Several people are killed in Tehran and other cities when thousands take to streets.

  • CAIRO, Oct 3- Egyptian private equity firm Citadel Capital said on Wednesday its consolidated second-quarter net loss narrowed to 124.2 million Egyptian pounds from a previously stated 180.5 million pounds a year earlier.

  • DUBAI, Oct 2- Al-Futtaim Group and Emaar Properties, two real estate developers from the United Arab Emirates, plan a 5 billion Egyptian pound tie-up to build a retail and entertainment complex outside Cairo, Al-Futtaim said on Tuesday.

  • DUBAI, Oct 2- The Abu Dhabi index hit a 14- month on Tuesday, lifted by real estate stocks which gained on the prospect of consolidation in the struggling sector. Aldar Properties and Sorouh Real Estate were the main drivers, together accounting for nearly 75 percent of all shares traded on the bourse.

  • STOCKHOLM, Oct 2- Syria's civil war has made Friday afternoons a busy time at Bambuser, a tiny Swedish IT startup in an old bicycle factory which streams live video from the latest uprisings.

  • NAIROBI, Oct 2- The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday. *UGANDA- Bank of Uganda releases its decision on the benchmark lending rate. *BOTSWANA- Bank of Botswana to auction its 14- day certificate Treasury bill.

  • NAIROBI, Oct 2- The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday. *BOTSWANA- Bank of Botswana to auction its 14- day certificate Treasury bill. Brent crude futures steadied near $112 a barrel on Tuesday as investors.

  • CAIRO, Oct 1- A $1 billion loan that Turkey has agreed to extend to Egypt will carry an interest rate of less than 0.6 percent and be repaid in five years with a three-year grace period, the Egyptian state news agency MENA said on Monday.

  • CAIRO, Oct 1- A $1 billion loan that Turkey has agreed to extend to Egypt will carry an interest rate of less than 6 percent and be repaid in five years with a three-year grace period, the Egyptian state news agency MENA said on Monday.

  • Under legislation that goes into effect on Nov. 1, Internet sites carrying content banned in Russia will be placed on a register, after which Internet providers will have one day to block access. Google Inc, the owner of YouTube, said it was ready to block access of the film to users in Russia once it received the court's decision, the RIA agency reported.

  • This is the face of new, high-end hotels in Africa. International hotel developers are planning nearly 40,000 new rooms across Africa in the coming years. Travel and tourism in Africa generates about $164 billion a year, 9 percent of the continent's total GDP, said David Scowsill, president and chief executive of World Travel& Tourism Council.

  • CAIRO, Oct 1- Egypt's negotiations for a $4.8 billion loan from the IMF have been delayed to give the government more time to draw up its economic reform programme, the two sides said on Monday. Egypt was due to receive a team from the International Monetary Fund at the end of September to discuss the terms of the loan.