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EgyptAir to use IPO proceeds to buy jets
National carrier EgyptAir will use the proceeds of an initial public offering (IPO) to raise money to purchase new aircraft, Minister of Civil Aviation Ahmed Shafik said. He gave no date for the public offering, but confirmed that it would be about a 20-percent stake in the company. The IPO is expected to raise $750 million, which will be used to purchase 22 new planes.
Shafik said a preparatory study for the privatization was nearly complete, but a second study by an international bank would be needed.
Egypt, EU fail to set action plan Egypt and the European Union have failed to agree on a Neighborhood Action Plan (NAP) due to alleged differences over its wording on human rights issues and nuclear weapons.
Foreign Minister Ahmed Aboul Gheit led an Egyptian delegation to a one-day meeting in Luxembourg on June 13 with EU commissioner Benita Ferrero-Waldner.
BSkyB P2P deal warms studios to movie downloads
BSkyB has charmed several major movies studios into allowing it to provide a legal P2P film download service to its customers. Today BSkyB launched its 'Sky over Broadband' service, which enables Sky Sports or Movies subscribers to download clips or full-length features to their PCs without any extra charge to their monthly subscription. .
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The laptops will have wireless broadband that, among other things, allows them to work as a mesh network; each laptop will be able to talk to its nearest neighbors, creating an ad hoc, local area network. The laptops will use innovative power (including wind-up) and will be able to do most everything except store huge amounts of data. Why do children in developing nations need laptops? Laptops are both a window and a tool: a window into the world and a tool with which to think. They are a wonderful way for all children to learn learning through independent interaction and exploration. Why not a desktop computer, or�even better�a recycled desktop machine? Desktops are cheaper, but mobility is important, especially with regard to taking the computer home at night. Kids in the developing world need the newest technology, especially really rugged hardware and innovative software.
Big Telco wants to ream you with “deep packet inspection”
The extremist "free market" crowd wants to toss hundreds of years of common and public law in the toilet so a few near-monopolies can maximize their profits and minimize your choices. Should you care? Only if you use the Internet. "We don't care. We don't have to." That was AT&T's unofficial motto back when they were a regulated monopoly. For decades you could buy a phone in any color you wanted, as long as it was black. Attach a fax machine at home? Oh no! It could damage the network! Buy a handset from a low-cost supplier? Oh no! It could be incompatible! Just rent ours in perpetuity. Much better - for our bottom line. Telecommunications is the backbone of the information age And it can't be handed over to the "(un)free market" for care and feeding.
EU launches bid to bin telco regulations
The EU's communications commissioner today vowed to press through sweeping reforms of the European telecoms market that she hopes will tear up the current red tape regime. She charged that governments and regulators have been too "cosy" with industry for too long, while consumers suffer. .
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