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Al Boom released on bail in $260m fraud trial
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Monday, 24 August 2009
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Emirati businessman Abid Al Boom, accused of an AED960m ($260m) fraud, has been released on bail after 14 months in detention
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Egypt launches electrical power plant
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Monday, 24 August 2009
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Egyptian Ministry of Electricity and Energy has opened a 10-megavolt electrical plant in the north-west of the country.
The new plant is part of a planned EGP14bn investment in Egypt's energy
infrastructure for 2009, which will be applied to new electricity
projects and the renovation and expansion of the national grid, the
ministry said.
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Egypt Signs 4 Oil, Metals Exploration Deals
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Sunday, 23 August 2009
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Egypt has signed four deals for petroleum and metals exploration worth a total of $34.5 million, the Oil Ministry said Thursday.
The first deal, worth $15 million, involves digging six wells in Siwa in the Western desert.
It is a joint project between the Egyptian General Authority For
Petroleum, Egyptian Company Thurwa and gas company Apache Corp. (APA),
the ministry said in a statement.
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Egypt strengthens relations with Korea
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Wednesday, 19 August 2009
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President of the
Egypt's General Authority for Investment said in his speech during the
launch of the Korean's channel TV, that the Egyptian economy has not
greatly affected by the global financial crisis, and there are many
promising opportunities to foreign investors abroad
He also pointed out that the Egyptian economy is capable of absorbing a
lot of investment. He added that there were 42 Korean companies
operating in Egypt.
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Rich nations stabilised: OECD
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Wednesday, 19 August 2009
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The Organisation for Economic Co-operation and Development (OECD) has
said the economies of its members stabilised in the last quarter
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