Asma's Feed
Jun 5, 2013

Arab League condemns Hezbollah’s role in Syria

CAIRO (Reuters) – The Arab League on Wednesday condemned the military intervention in Syria by the Lebanese Shi’ite militant group Hezbollah, Arab League Secretary General Nabil Elaraby said.

A resolution issued after a meeting of Arab League foreign ministers in Cairo expressed “strong condemnation” of all forms of foreign intervention, especially that by Hezbollah, he said.

May 24, 2013

Orascom Telecom closer to delisting after stock tender-source

CAIRO/MOSCOW, May 24 (Reuters) – Egypt’s Orascom Telecom
(OTH) is closer to being delisted, sources said on
Friday, after holders of around 10 percent of its stock agreed
to be bought out.

Russia’s Altimo, the biggest owner of OTH’s parent Vimpelcom
, made a $1.8 billion offer in March to buy out OTH
minorities and sources said Vimpelcom wanted to delist OTH from
both the Cairo and London stock exchanges.

May 24, 2013

Orascom shareholders tender 10 percent in Altimo offer: source

CAIRO/MOSCOW (Reuters) – Egypt’s Orascom Telecom (OTH) (ORTE.CA: Quote, Profile, Research, Stock Buzz) is closer to being delisted, sources said on Friday, after holders of around 10 percent of its stock agreed to be bought out.

Russia’s Altimo, the biggest owner of OTH’s parent Vimpelcom (VIP.N: Quote, Profile, Research, Stock Buzz), made a $1.8 billion offer in March to buy out OTH minorities and sources said it wanted to delist OTH from both the Cairo and London stock exchanges.

May 24, 2013

Orascom shareholders tender 10 pct in Altimo offer-source

CAIRO/MOSCOW, May 24 (Reuters) – Egypt’s Orascom Telecom
(OTH) is closer to being delisted, sources said on
Friday, after holders of around 10 percent of its stock agreed
to be bought out.

Russia’s Altimo, the biggest owner of OTH’s parent Vimpelcom
, made a $1.8 billion offer in March to buy out OTH
minorities and sources said it wanted to delist OTH from both
the Cairo and London stock exchanges.

May 22, 2013

Egyptian factories, hit by subsidy cuts, highlight Cairo’s fiscal dilemma

AL-SAFF, Egypt (Reuters) – Hundreds of soot-stained factory chimneys dot the horizon in the industrial city of al-Saff, south of Cairo, but only a few spew black smoke.

Two years after the revolution that overthrew president Hosni Mubarak, Egyptian industry is struggling as political instability has scared off foreign investors and hit domestic confidence and the government has started slashing energy subsidies that eat up a fifth of its annual budget.

Apr 22, 2013

Egypt’s Mursi in crisis talks with judges over reform

CAIRO (Reuters) – Egyptian President Mohamed Mursi held crisis talks with the country’s top judges on Monday after the justice minister resigned over demands by the ruling Muslim Brotherhood for a “purification” of the judiciary.

The secular, liberal and left-wing opposition denounced what it called a planned “Brotherhoodisation” of the judiciary and called for demonstrations outside parliament.

Apr 19, 2013

Egyptian Islamists rally at High Court, demand judiciary purge

CAIRO (Reuters) – Thousands of Islamist protesters clashed with opponents as they rallied on Friday to demand a purge of Egypt’s judiciary, a sign of rising tension between the Islamist government and legal organs seen as a redoubt of old regime influence.

Thirty-nine people were injured in a bout of stone-throwing, and occasional gunshots outside the High Court, according to witnesses and a security source cited by state media. Police use tear gas to quell the disturbances.

Apr 18, 2013

Egypt’s Jews bury veteran leader

CAIRO (Reuters) – Egypt’s tiny Jewish community, a frail remnant of a once flourishing minority, held a rare public ceremony on Thursday in memory of its veteran leader, Carmen Weinstein, but the country’s Islamist leaders stayed away.

Weinstein, 82, died last Saturday at her home in Cairo where she was known over the past two decades for leading efforts to preserve the overwhelmingly Muslim country’s Jewish heritage.

Apr 15, 2013

Egypt’s soaring energy subsidy bill to exceed previous estimate

CAIRO, April 15 (Reuters) – Fuel subsidies will cost Egypt
more than 120 billion Egyptian pounds ($17.4 billion) this
financial year, above previous estimates, as a falling local
currency adds strain to the budget, Oil Minister Osama Kamal
told Reuters on Monday.

Egypt is under pressure to curb its soaring fuel subsidy
bill, which accounts for a fifth of state spending, to secure a
$4.8 billion loan from the International Monetary Fund. But
Kamal cast doubt on his previous estimate that the cost would
hit 120 billion pounds in the 2012/13 fiscal year to June 30.

Apr 14, 2013

Egypt sells $600 mln to import basic goods

CAIRO, April 14 (Reuters) – Egypt’s central bank sold $600
million to banks in a special auction of foreign exchange on
Sunday to pay for wheat, meat, cooking oil and other essential
imports to a country struggling with a currency crisis.

The size of the auction – 15 times the amount the central
bank has been selling at its regular currency auctions – showed
the extent of pent up demand for dollars as Egypt struggles with
an economic crisis two years after the ousting of Hosni Mubarak.