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Saudi Arabia's Interior Ministry announced the execution of four men and the whipping of another seven (File photo) AFP PHOTO / HASSAN AMMAR

Saudi Arabia beheads four, whips many more

Four people have been beheaded in Saudi Arabia for breaching Saudi Islamic law, while seven Egyptians were sentenced to lashes and jail-time. The punishments handed out in Saudi bring into question their commitment to human rights as defined within the UN charter

Luiz Sanchez

Saudi delegation to visit Egypt for investment talks

A Saudi business-delegation is scheduled to visit Cairo this Monday, with the legal impediments to Saudi investment leading the visit’s agenda. Reportedly, Dr Tawfik Al-Rabea, Saudi Minister of Industry and Trade, will head the delegation that encompasses up to 35 Saudi businessmen, in addition to the Saudi Ambassador to Egypt, Ahmed Al-Katan. The Egyptian delegation …

Islam Serour

Delta Communication acquires CompuMe

Delta Communications and Trade (DCT) has taken 100 percent of shares in CompuMe, an electronics retail company. Amr Sheira, Deputy Manager of CompuMe, said that all the company’s shares and trademarks CompuMe were sold to DCT in the biggest acquisition agreement in communications sector since January. He refused to disclose the value of the agreement …

Daily News Egypt

Egypt expects Saudi financial support by end of month

By Reuters CAIRO: Saudi Arabia will deposit $1 billion at the Egyptian central bank and buy T-bonds valued at $750 million by the end of the month as part of a $2.7 billion support package agreed with Riyadh this week, an Egyptian government official said on Thursday. In addition, Saudi Arabia will provide $250 million …

DNE

Egypt stock market likely to drift; Saudi to resume gains

By Nadia Saleem and by Tom Pfeiffer / Reuters DUBAI: Egypt’s stock market is likely to drift in coming days while investors await the outcome of protests planned for Friday against the disqualification of three leading candidates for the presidency. If the protests turn violent that could trigger a sharp drop in the stock market. …

DNE

PE firm Amwal Alkhaleej eyes Saudi exit, targets Egypt

By Dinesh Nair / Reuters DUBAI: Saudi private equity firm Amwal Alkhaleej will exit at least one investment in the kingdom this year through an initial public offering, and is in advanced talks for a minority stake in an Egyptian firm, the firm’s chief executive said on Wednesday. The Riyadh-based firm will offload a portion …

DNE

Official displeasure may slow, not end Saudi stock rally

By Nadia Saleem /Reuters DUBAI: Stock market trading in Saudi Arabia could slow in coming weeks because of the risk that authorities may crack down on rampant speculation, but the market’s long-term uptrend is unlikely to be reversed, fund managers and analysts say. King Abdullah has ordered the Capital Market Authority (CMA) to take action against …

DNE

Saudi Arabia denies activist on hunger strike

By Asma Alsharif / Reuters JEDDAH: A prominent Saudi rights campaigner, who has been detained for a year, is not on hunger strike, an Interior Ministry spokesman said in response to activists saying he was in deteriorating health and Saudi authorities were to blame. Mohamad Al-Bajadi was detained in March 2011 after voicing support for families …

DNE

Egypt stocks at 9-week low; profit-taking weighs on Saudi

By Nadia Saleem and Patrick Werr/Reuters DUBAI/CAIRO: Egypt’s main index fell 0.8 percent on Tuesday to its lowest close since Feb. 6, on its sixth day of decline. An Egyptian court halted on Tuesday a move to create a new constitutional assembly pending a ruling on its legality, a move that could delay a constitution needed …

DNE

Foreign, local pressures boost Saudi rates

By Andrew Torchia / Reuters DUBAI: Saudi Arabia’s market interest rates are climbing as the economy booms, but the rise is as much due to international pressures as strain on banks’ lending resources, and any hike of official rates probably remains distant. The increase in interbank lending costs underlines how Saudi money markets are returning to …

DNE

Saudi Arabia and Russia: Settling old scores in Syria

By Madawi Al-Rasheed LONDON: Defeating Russia in the Arab world was a priority for Saudi Arabia even before it became a fully-fledged commitment in Afghanistan in the 1980s. The current Syrian crisis is perhaps one last opportunity to undermine Russia’s eroded sphere of influence in the region. The Saudis may think that defeating Russia this time …

DNE

China sending envoy on Syria to Saudi Arabia, Egypt, France

By AFP BEIJING: China said Friday it is sending an envoy to Saudi Arabia, Egypt and France to explain its position on Syria, after Beijing called for an end to the year-long conflict in the Middle East country. China unveiled a six-point peace plan last Sunday, calling for an immediate end to the bloody violence …

DNE

Saudi says to honor $3.7 bln aid pledge to Egypt

By AFP RIYADH: Saudi Arabia said on Wednesday that it would honor a pledge of $3.75 billion in aid to Egypt, after complaints by the Egyptian premier that donor countries were failing to respect their commitments. “The kingdom pledged to support Egypt in meeting the challenges facing its economy through a series of financial commitments …

DNE