* SODIC’s land bank to last only two to three years
* Says switched focus to smaller residential projects
* Seeking to raise 550 million pounds in new debt
By Asma Alsharif
CAIRO, Aug 1(Reuters) – One of Egypt’s biggest property
developers, SODIC, warned that it was running out of
land for new development and said it hoped an interim government
would approve new tracts.
Reflecting the wider problems for Egyptian businesses faced
by political turmoil since the ousting of President Hosni
Mubarak in 2011, real estate development has ground to a near
CAIRO (Reuters) – Egypt’s army-backed government on Thursday warned supporters of deposed president Mohamed Mursi to abandon their Cairo protest camps, promising them a safe exit if they gave up without a fight.
The appeal, made by Interior Ministry spokesman Hany Abdel Latif on state television, followed the government’s declaration on Wednesday it was ready to take action to end two weeks of sit-in protests by thousands of Mursi supporters at two sites.
CAIRO (Reuters) – Standing by a brick and sandbag barricade on the edge of a Muslim Brotherhood protest camp in Cairo, chief guard Mohamed Saqr is preparing to resist a threatened attempt by security forces to storm in.
The army-backed government has announced it will clear two Brotherhood encampments soon and on Thursday offered a safe exit to those keeping up a peaceful vigil if they leave voluntarily.
CAIRO (Reuters) – Germany urged Egypt to avoid “the appearance of selective justice” on Thursday amid a crackdown on deposed President Mohamed Mursi’s Muslim Brotherhood, which remained defiantly dug in at a protest camp the police have orders to remove.
There was no word on when the authorities would move against the vigil maintained by the Brotherhood since the army ousted Mursi on July 3 following mass protests. A cabinet statement on Wednesday appeared to signal imminent action.
CAIRO (Reuters) – Egypt faced the prospect of fresh bloodshed on Thursday after the country’s army-backed rulers signalled they would move soon to disperse thousands of supporters of deposed Islamist President Mohamed Mursi.
With no sign of a negotiated end to weeks of violent confrontation, Egypt’s interim government said two Cairo vigils by Mursi supporters posed a threat to national security, citing “terrorism” and traffic disruption.
CAIRO (Reuters) – Egypt’s army-backed rulers signaled on Wednesday that they could soon act to end weeks of sit-in protests by supporters of deposed President Mohamed Mursi, setting up a potentially bloody showdown with his Muslim Brotherhood.
In a televised statement, the cabinet installed by Egypt’s army after it overthrew Mursi on July 3 said two Cairo vigils by thousands of his supporters represented a “threat to Egyptian national security”, citing “terrorist acts” and traffic disruption.
CAIRO (Reuters) – Europe’s top diplomat shuttled between Egypt’s rulers and the Muslim Brotherhood on Monday in a mission to pull the country back from more bloodshed, but both sides were unyielding after 80 Islamist supporters were gunned down.
European Union foreign policy chief Catherine Ashton, making her second visit in 12 days as one of the few outsiders able to speak to both sides, made no public comment. Supporters and opponents of ousted Islamist president Mohamed Mursi left no doubt about the depth of polarisation in the Arab world’s most populous nation.
CAIRO (Reuters) – Europe’s top diplomat pressed Egypt’s rulers on Monday to step back from a growing confrontation with the Muslim Brotherhood of deposed Islamist president Mohamed Mursi, two days after 80 of his supporters were gunned down in Cairo.
Raising the prospect of more bloodshed, the Muslim Brotherhood said it would march again on Monday evening on Interior Ministry offices across the country.
CAIRO (Reuters) – At least seven people were killed and hundreds wounded in scattered violence across Egypt during mass rallies for and against the army’s overthrow of Islamist President Mohamed Mursi, who was placed under investigation for murder.
With hundreds of thousands taking to the streets on Friday, the new bloodshed deepened the turmoil convulsing the Arab world’s most populous country, and could trigger a decisive move by the military against Mursi’s Muslim Brotherhood.
CAIRO (Reuters) – Hundreds of thousands of Egyptians took to the streets on Friday in rival mass rallies for and against the army’s overthrow of Islamist president Mohamed Mursi, who state media said was under investigation for charges including murder.
Five people were killed and more than 50 injured during fighting in the second city of Alexandria. A total of more than 200 were hurt in scattered confrontations nationwide, the health ministry said, with fears of more bloodshed as night fell.