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For the seventh time: CBE fixes interest rates on deposits and loans

In its meeting Thursday, the monetary policy committee in the Central Bank of Egypt has decided to fix the interest rates on deposits at 9.25 per cent and on the one night lending at 10.25 per cent for the seventh time since February, in an attempt to maintain the bank’s monetary policy and to control …

Mohamed Salah

Relations between Tehran and Riyadh have been tense for years over several political and security issues (AFP/File, Chris Lefkow)

Saudi coastguard capture 15 Iranians

Relations between Tehran and Riyadh have been tense for years over many political and security issues, including Iran’s controversial nuclear programme, which scares its Arab neighbours across the Gulf waters.

Daily News Egypt

US President Barack Obama waves at supporters during a campaign rally at George Mason University in Fairfax, Virginia, on October 19, 2012. (AFP Photo /Jewel Samad)

Obama tags Romney with amnesia gag

The Obama camp’s previous bid to skewer Romney with insulting tags — such as pushing the Robin-Hood-in-reverse term “Romney Hood” to tarnish his tax policies — have done nothing to protect the president’s shrinking poll lead.

Daily News Egypt

Explosions and gunfire shook the northeastern Nigerian city of Potiskum on Thrusday. (AFP/ Getty Images)

Attacks ‘kill at least 23’ in Nigeria’s northeast

Kano, Nigeria (AFP) – A wave of attacks by suspected Boko Haram Islamists in northeastern Nigeria killed at least 23 people and destroyed several buildings, a hospital official and residents said on Saturday. A nurse at the Potiskum general hospital spoke of 20 bodies being brought to the morgue, while residents said three bodies were …

Daily News Egypt

Kitesurfing on the Red Sea

The contrast of the intense blues of the ocean with the rich rusts and ochres of the sand and the vivid reds, browns and purples of the distant mountains are a visual feast no kiter soon forgets, even more so with ones’ senses heightened by carving through the blue lagoons powered only by the wind.

Daily News Egypt

License to punish

So, this morning as I packed my bag I added a few extra things to make sure we would have a productive day at work. Shears, scissors, assorted lengths of rope and of course a straight razor.

Adel Heine

Adel El Adawy

An Authoritarian Relapse?

The current circumstances under which the constitution is being drafted does not represent the ideals nor values embodied by the January 25th Revolution.

Daily News Egypt

Developers compete for Egyptian Steel contract

Four companies are competing for a contract of Egyptian Steel’s plant in Ein Sokhna. The bidding companies are Orascom Construction Industries (OCI), Petrojet, Hassan Allam Sons and SIAC, chairman of Egyptian Steel, Ahmed Abou Hashima, said on Wednesday. The winner of the EGP 220 million bid will be announced within the coming two weeks, said …

Mohamed Salah

News of Sukuk issuance agreement creates confusion among Islamist parties

The Ministry of Finance’s head of the Public Debt Unit, Samy Khallaf, declared that a preliminary agreement has been reached with 10 international investment banks to carry out the procedures of issuing the first Egyptian Islamic Sukuk in international markets. The value of the projected Sukuk, Khallafa dded, would range from $750 million to $1 …

Islam Serour