Cairo finally admits foreign borrowing is necessary
Cairo - Arabstoday
Egypt\'s dependence on local borrowing to support the state budget is not sustainable and it will have to borrow from overseas, a state newspaper quoted Finance Minister Hazem Al Beblawi as saying yesterday. Local banks are lending heavily to the government as it seeks funds to cover a ballooning budget since a popular uprising toppled President Hosni Mubarak in February, and treasury yields have risen steadily. \"It was the norm that we borrowed from T-bills with rates within 9 to 10 per cent. Now they have reached 13 to 14.4 per cent, and this is a very serious issue for the treasury and for the national economy,\" daily Al Ahram quoted Beblawi as saying.
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France's Carrefour revamps operations
Paris - Emiratesvoice
France's Carrefour group said Tuesday it is overhauling its business in a transformation plan involving thousands of job cuts, a product revamp and new partnerships in China. Carrefour, which was the world'sTo partake in Beiteddine Festivals
Singer Bruni arrives in Beirut Sunday evening
Beirut - NNA
French renowned singer and supermodel, Carla Bruni, is expected to arrive this evening at Rafic Hariri International Airport in Beirut, accompanied by her husband, former French President Nicolas Sarkozy. BruniIn France
Microsoft to open 4 data centres
Paris - Emiratesvoice
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'Friendly and kind' N. Korean skaters
Taipei - Emiratesvoice
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Paris - Emiratesvoice
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to 'eternal style' of late Alaia
Paris - Emiratesvoice
Two months after legendary designer Azzedine Alaia's sudden death plunged the fashion world into mourning, an exhibition in homage to the "King of Cling" opens Monday in his studios in Paris. The Tunisian-born designer, renowned for the way his clothes hugged the body, died suddenly in November aged 82, reportedly of heart failure after falling down the stairs at his home. The diminutive maverick, who ignored fashion week convention by showing when and where he wanted, in July produced his first couture collection in six years to rapturous reviews. Now some of his most iconic dresses are going on display in the glass-roofed gallery next to his studio and home in the Marais district where he used to show his creations. It includes the dress worn by supermodel Naomi Campbell, his longtime friend and muse, when she led
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