Word: cairo
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...Saad, found himself outside of Lebanon when the hostilities started. As a member of the Lebanese parliament and the head of his father's Future Party, he has been shuttling around the Middle East and Europe trying to rally support for his country. On Friday he spoke to TIME Cairo Bureau Chief Scott MacLeod about the escalating crisis...
...based in Hong Kong. Sawiris seeks to increase his stake to 51%, thereby extending Orascom's reach to Southeast Asia through Hutchison's businesses in India, Indonesia and Vietnam. From relatively small beginnings less than a decade ago, when it established Mobinil in Egypt, Orascom, which trades on the Cairo-Alexandria stock exchange but is controlled by Sawiris' Rome-based parent company, Weather Investments, became a major presence throughout the Middle East. Sawiris also moved into Pakistan and Bangladesh before he revealed the full extent of his global ambition last year with a risky, leveraged $15 billion takeover of Wind...
...much longer, and governments like Egypt's now realize that Arab businesses have to play by a new set of rules and on a much bigger field. "We are no longer looking at Egypt as our market," says Saad Sallam, chairman of Olympic Group in Cairo, which is increasing its exports of refrigerators, stoves and other home appliances to other Arab countries. "The region is our market...
Government reforms have helped, but it is innovation that has made Mohammed Farid Khamis, founder and CEO of Oriental Weavers Carpet Co. in Cairo, the Pharaoh of Egyptian exporters. Starting with a single loom in 1980, he has become the leading producer of machine-woven carpets in the world. From a string of factories in the industrial 10th of Ramadan City, 34 miles northeast of Cairo, Oriental Weavers ships 70 million sq. ft. of carpets a year, yielding $280 million in revenues. Its customers include such retailers as Wal-Mart, Home Depot, Ikea and Carrefour. With 63% of the shares...
...agreement that had been in the works for decades. Some countries have slashed tariffs to zero under the pact. Already, according to Egypt's Trade Ministry, inter-Arab trade rose 22% in 2005 compared with a 4% rise three years earlier. Last month an Arab trade-ministers meeting in Cairo took up the technical yet crucial issue of adopting common product standards. "There is a reshaping of the landscape," says Hassan Heikal, CEO of EFG-Hermes Holding SAE, a Cairo investment bank, over cocktails at the Four Seasons First Residence--itself the product of a partnership among a local investor...