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GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Egyptian for Tourism Resorts   0.69        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Heliopolis Housing   21.65        Raya Holding For Technology An   4.57        United Housing & Development   8.93        International Agricultural Pro   2.1        Gulf Canadian Real Estate Inve   18.08        Alexandria Pharmaceuticals   45.71        Arab Cotton Ginning   2.46        Egyptian Chemical Industries (   7.26        National Real Estate Bank for    11.84        Six of October Development & I   15.03        National Development Bank   6.72        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Palm Hills Development Company   1.61        Credit Agricole Egypt   9.04        Remco for Touristic Villages C   2.13        Commercial International Bank    29.87        El Ezz Porcelain (Gemma)   1.9        Egyptian Starch & Glucose   5.4        Arab Real Estate Investment (A   0.41        South Valley Cement   3.12        Citadel Capital - Common Share   2.5        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Sharkia National Food   3.78        Egyptian Transport (EGYTRANS)   7.85        El Kahera Housing   4.97        El Shams Housing & Urbanizatio   2.45        Egyptian Kuwaiti Holding   0.7        ARAB POLVARA SPINNING & WEAVIN   2.11        Cairo Poultry   8.32        Egyptian Financial & Industria   8        T M G Holding   4.03        Asek Company for Mining - Asco   10.66        Misr Hotels   27        Egyptian Electrical Cables   0.56        Medinet Nasr Housing   22.51        Mena Touristic & Real Estate I   1.21        ELSWEDY CABLES   18        Al Arafa Investment And Consul   0.17        Prime Holding   0.91        Alexandria Spinning & Weaving    0.74        General Company For Land Recla   16.6        Gharbia Islamic Housing Develo   8.41        Alexandria Cement   8.9        Arab Valves Company   0.94        Sidi Kerir Petrochemicals   12.4        TransOceans Tours   0.09        Egyptian for Developing Buildi   6.43        Egyptian Gulf Bank   1.24        Kafr El Zayat Pesticides   18.19        Faisal Islamic Bank of Egypt -   35.1        National company for maize pro   11.86        Delta Construction & Rebuildin   4.03        Zahraa Maadi Investment & Deve   48.25        Samad Misr -EGYFERT   3.52        Egypt for Poultry   1.41        Cairo Development and Investme   11.7        Cairo Pharmaceuticals   20.1        Maridive & oil services   0.9        Suez Canal Bank   3.75        Nile Pharmaceuticals   15.81        The Arab Dairy Products Co. AR   73.85        National Housing for Professio   14.39        El Ahli Investment and Develop   4.87        Egyptian Saudi Finance Bank   10.79        Ismailia National Food Industr   5.16        National Societe Generale Bank   25.52        Acrow Misr   19.16        Alexandria Mineral Oils Compan   63.63        Paper Middle East (Simo)   5.59        Egypt Aluminum   12.31        Giza General Contracting   13.12        Middle Egypt Flour Mills   5.82        Extracted Oils   0.6        Assiut Islamic Trading   4.56        Engineering Industries (ICON)   3.95        North Cairo Mills   15.3        Arab Pharmaceuticals   11.88        Grand Capital   5.38        El Ahram Co. For Printing And    10.68        Minapharm Pharmaceuticals   25.49        El Arabia Engineering Industri   13.52        El Nasr For Manufacturing Agri   9.71        Naeem portfolio and fund Manag   1.7        Faisal Islamic Bank of Egypt -   6.76        Natural Gas & Mining Project (   68.26        Housing & Development Bank   13.95        East Delta Flour Mills   31.5        Orascom Development Holding (A   3.22        Memphis Pharmaceuticals   11.12        Abou Kir Fertilizers   134.23        Delta Insurance   5        Cairo Investment & Real Estate   12.18        Cairo Oils & Soap   12.98        Egyptian Arabian (cmar) Securi   0.36        Egyptian Real Estate Group Bea   15.56        Alexandria Containers and good   85.51        Upper Egypt Flour Mills   45.78        Development & Engineering Cons   9.94        Sinai Cement   15.18        Medical Union Pharmaceuticals   28.01        Torah Cement   24.2        Alexandria New Medical Center   46.55        Export Development Bank of Egy   5.04        Egyptian Company for Mobile Se   92.02        Middle & West Delta Flour Mill   32.7        El Kahera El Watania Investmen   4.18        Mansourah Poultry   12.41        Delta Sugar   11.04        Misr Beni Suef Cement   41.21        Egyptian Satellites (NileSat)   6.14        Cairo Educational Services   17.75        Lecico Egypt   7.55        Sharm Dreams Co. for Tourism I   5.3        General Silos & Storage   10.77        Al Moasher for Programming and   0.66        UTOPIA   5.28        Arab Ceramics (Aracemco)   25.4        Barbary Investment Group ( BIG   0.98        

News - Egypt News

Amwal Al Ghad English - 2015-10-04 15:36:54
A tripartite meeting that was supposed to be held in Egypt Sunday has been postponed upon the request of Addis Ababa in the latest setback to efforts to reach a compromise over Ethiopia's Renaissance Dam. Egypt had invited Ethiopian and Sudanese officials, along with representatives from the consultancy firm studying the impact of the dam, to a meeting headed by the Egyptian National Committee of the Grand Ethiopian Dam (TNC). The meeting was arranged to discuss the recent differences between the countries over the building of the Renaissance Dam in Ethiopia. The tripartite meeting was scheduled to take place in Egypt on Sunday 4 October, a date that was confirmed during President Abdel Fattah al-Sisi's meeting with Ethiopian Prime Minister Hailemariam Desalegn during the UN General Assembly meeting. The two leaders met on the sidelines of the General Assembly in New York last week and confirmed that negotiations over the controversial dam would continue on 4 October. This is not the first setback since the three countries signed the declaration of principles in March, which aims to safeguard the interests of all parties involved. In September, Egypt expressed its concern after the two foreign consultancy firms failed to deliver their reports to the tripartite committee on time. They had also missed a deadline in August, forcing the tripartite committee to re-schedule for 5 September. The Dutch consultancy firm, Deltares, then withdrew from the assessment of the dam in September. The firm reasoned that the conditions set by the TNC did not provide Deltares with the opportunity to carry out an independent, high quality study. The continuous stalling by Ethiopian officials and the withdrawal of the Dutch firm has put future negotiations in jeopardy. Ex-irrigation minister Mohamed Nasr Allam has called on the Egyptian government to appeal to the United Nations to resolve the matter due to the failure of negotiations with Ethiopia. Egypt, with its share of 55 billion cubic meters, is currently suffering from a water deficit of 20 billion cubic meters which it compensates through water recycling, a process that is not viable in the long run. The dam, scheduled to be completed in 2017, will be Africa's largest hydroelectric power plant with a storage capacity of 74 billion cubic meters of water. More»
Amwal Al Ghad English - 2015-10-04 13:42:00
Egypt signed an agreement Sunday with the World Bank for a US$550 million loan to fund the country's rural sanitation project. The project has a projected cost of $2.8 billion, of which $1.1 billion will be provided by the World Bank. The World Bank's involvement was reported by stated-owned organisation MENA. Egypt's sanitation project aims to improve facilities in 155 villages, housing some 833,000 citizens, across three years. World Bank approved the first half of the loan in July. It comes as part of the sanitation and social housing programme the bank introduced in 2014. More»
Amwal Al Ghad English - 2015-10-04 10:12:50
In a statement on Egypt's upcoming parliamentary elections on 16 September, the Higher Elections Committee (HEC) in charge of supervising the polls announced that a total of 5,955 individuals had applied to run in the polls. One day later, however, the committee said the applications of as many as 535 individuals had been rejected, thus lowering the number of independent candidates to 5,420. Even though some of the rejected individuals whose appeals were accepted were allowed by judicial authorities to re-join the election race, and even as the number of party-based candidates stands at around 600, political analysts agree the total number of candidates seeking to contest the coming polls is still low compared to previous polls. According to Wahid Abdel-Meguid, editor-in-chief of Al-Ahram's International Politics magazine and a political analyst, the above figures show that the number of candidates contesting Egypt's coming parliamentary elections will be relatively few. "We expected that a record number of candidates would contest the coming polls given the fact that the number of parliamentary seats has greatly increased. But this has not happened," said Abdel-Meguid. Abdel-Meguid told Ahram Online that even if the candidates running on party lists — around 600 — in the two-stage elections were added, the total number of candidates would still remain low. "The total number of candidates, including independents and party-based candidates alike, is not expected to exceed 6,000, and this remains lower than the numbers in previous elections," he said. Abdel Meguid explained that ten years ago — in 2005 — the number elected parliamentary seats was a total of 444 while the number of individual candidates stood as high as 5,177. "But while the number of elected seats in 2015 increased by 124 (up to 568), the number of candidates stood at just 5,420," he said, adding that "An increase by 124 seats should have meant that the number of total candidates increase by at least 2,000, to be more than 7,000." "It is surprising that although the seats increased by 124, the number of candidates rose by around 350," said Abdel-Meguid. More surprising still, Abdel-Meguid said, is that in 2011, when parliamentary elections were held for the first time after the removal of former president Hosni Mubarak, the total number of candidates skyrocketed to 10,251 candidates, including independent and party-based runners. "This was an unprecedented figure, although the number of contested seats in these polls stood at just 498 — 70 seats less than the current number," he said. Abdel-Meguid believes that the above figures show clearly that the number of parliamentary candidates had been steadily increasing over the last 10 years. "You had 5,177 candidates and 444 contested seats in 2005; 5,411 candidates and 508 contested seats in 2010; and 10,251 candidates and 498 contested seats in 2012. Based on the above figures, and on the fact that seats increased by 120 and that parliament gained greater powers vis-à-vis the president, it was supposed that the number of candidates would continue increasing to hit a new record." Concurring, Amr Hashem Rabie, an Al-Ahram political and parliamentary analyst, said: "The increase in total number of parliament's seats and in parliamentary powers should have encouraged more to run in the polls. But what we saw was a decrease." But while Rabie believes that the lengthy, costly and cumbersome registration process this year might have dissuaded many from joining the polls, Abdel-Meguid believes that political reasons are to blame. Rabie noted: "Hopeful candidates were required to pay a lot of money in medical test expenses (LE2,850) and insurance (around LE10,000), not to mention that campaigning in a time with high inflation rates was beyond the financial capacity of many activists in most political parties." More»
Amwal Al Ghad English - 2015-10-04 09:56:59
Ahram Online spoke with Minister of Antiquities Mamdouh Eldamaty regarding an upcoming radar scan of Tutankhamun’s tomb to determine if Queen Nefertiti is buried in a hidden chamber. The theory that Nefertiti may be buried in Tutankhamun’s tomb was introduced by Egyptologist Nicholas Reeves. Ahram Online (AO): What is your opinion about Reeves' theory, and could it be true? Minister: It is a respectable scientific theory that could prove right or wrong, and when examining the west and north walls of Tutankhamun’s burial chamber, I realised that all the evidence that Reeves mentioned regarding the existence of hidden chambers is true. I also noticed an area on a wall where the type of stone used was different than that in other walls. It is covered in painted plaster with the purpose of hiding something. More»
Amwal Al Ghad English - 2015-10-04 09:51:14
Giza Criminal court sentenced on Saturday two supporters of ousted Islamist president Mohamed Morsi to death on violence-related charges. Two others were sentenced to 25 years in jail, while a minor was sentenced to ten years in prison, the maximum sentence in juvenile cases. Defendants belong to "Ultras Rabaawy", a pro-Morsi youth group that employs the tactics of hard-core Egyptian football fan groups known as ultras. An initial death sentence was uttered by the court in August. However, all death sentences have to be referred to the country's grand mufti, the state's senior Muslim cleric, for a consultative review as required by Egyptian law. The grand mufti's opinion is non-binding, but Egyptian judges have traditionally aligned their final rulings to the mufti's recommendations. The verdict can still be appealed in front of the appeals court. The convicted were charged with torching the administrative prosecution building in Cairo and a mobile phone network communication tower in 6thof October City. The court was presided over by Judge Nagy Shehata who in the past few months has issued death sentences to dozens of Islamists and 25-year sentences to pro-January 25 revolution activists. Morsi and hundreds of his supporters have been sentenced to death following his ouster in 2013 following mass protests against his one-year rule. Morsi's death sentence is currently being appealed. More»
Amwal Al Ghad English - 2015-10-04 09:37:00
Seven electoral alliances are running in the first stage of the parliamentary elections slated for 18-19 October, the High Elections Committee (HEC) announced in a statement on Saturday. There are four lists contesting 15 seats in the West Delta, which are the Salafist Nour Party, Fi Hob Misr list (for the Love of Egypt), Forsan Misr (The Knights of Egypt) and the combined electoral list of the Egyptian Front and the Independence Current. There are another three lists contesting 45 seats in north, middle and Upper Egypt: Nadaa Misr (the Call of Egypt), Al Sahwa Al Watnya (the Natinal awake) and Fi Hob Misr. A total of 286 seats will be up for competition in the first stage, with 226 seats for independents and 60 seats for party-based lists. The breakdown of the 60 party-based seats will go to the two constituencies as follows: the north, middle and Upper Egypt constituencies, which include 11 governorates, will elect 45 MPs. They will be divided as follows: Giza (11), Fayoum (4), Beni Suef (3), Minya (6), Assiut (5), New Valley (1), Sohag (6), Qena (4), Luxor (2), Aswan (2), and the Red Sea (1). The West Delta constituency, which includes three governorates, will elect 15 MPs. They will be divided as follows: Alexandria (7), Beheira (7), and Marsa Matrouh (1). More»
Amwal Al Ghad English - 2015-10-04 08:10:40
Egypt's UN Human Rights Council member Amr Ramadan issued a statement Saturday objecting to a proposal made by several European countries seeking to abolish internationally the death penalty. Ramadan raised concern over pressure exerted by several countries using economic sanctions or aid withdrawal to pressure developing countries regarding the use of the death penalty, describing such moves as "unethical," according to Egypt's state-owned MENA news agency. Ramadan underlined that Egypt respects the decision of some countries to end the use of the death penalty and urged them to show equal mutual respect regarding Egypt's decision not to. More»
Amwal Al Ghad English - 2015-10-04 07:55:43
Russia's intervention in Syria will curtail the spread of terrorism and help deal a fatal blow to Islamic State in the war-torn country, Egypt's Foreign Minister Sameh Shoukry said.Russia launched air strikes in Syria on Wednesday in its biggest Middle East intervention in decades, marking a dramatic escalation in a more than four-year-old civil war in which every major country in the region has a stake."Russia's entrance, given its potential and capabilities, is something we see is going to have an effect on limiting terrorism in Syria and eradicating it," Shoukry said in a televised interview on Saturday.Vladimir Putin said he is striking Islamic State and helping Syria's Bashar al-Assad, long Russia's closest ally in the region. But the United States is concerned that Moscow is propping up Assad, who Washington has long held should leave.Egypt has avoided showing support for al-Assad, a leader whom Saudi Arabia, a key Egyptian ally that has propped up the country economically, believes should be ousted. More»
Amwal Al Ghad English - 2015-10-03 13:55:49
Egyptians have deposited the equivalent of 1.29 percent of the country’s gross domestic product (GDP) in HSBC’s Swiss subsidiary HSBC Private Bank (Suisse) over a five-month period in 2006/2007, said a report Wednesday. This recent re-examination of SwissLeaks - a scandal that involved thousands of secret accounts exposed by the International Consortium of Investigative Journalists - was jointly conducted by Christian Aid, a British organization fighting poverty, and the US-based Financial Transparency Coalition (FTC). The media coverage of the scandal had revealed the harm tax haven secrecy inflicts through the potential crimes of tax evasion and money laundering because of loopholes in the system. Titled “Viewing #SwissLeaks Through a Different Lens”, the report looked at another angle: it compared the amount held by account holders in individual countries with the size of each country’s GDP, to show that proportionally the countries that lost out most were in the developing world. More»
Amwal Al Ghad English - 2015-10-03 10:59:05
The Egyptian-Bahraini Friendship Association is to hold its first economic conference in Egypt next November, chairwoman and founder Amira Hassan said Saturday. The conference -set to be held in Aswan governorate- aims at enhancing and developing investment in Egypt in different sectors, notably after Cairo's announcement about the promising investment opportunities in different sectors. Aswan is the southernmost governorate in Upper Egypt which is 682.28km (423.96 miles) of Cairo. Hassan said that a large number of key investors from Bahrain, UAE, and Saudi Arabia are set take part in the conference to participate in the ambitious economic plans that Egypt eyes within the upcoming period. The chairwomen stated that all indicators affirm that the Egyptian economy is about to witness new period of growth and prosperity, thus the current time is perfect to enhance the investments between Egypt and Gulf states. Hassan added that conference's agenda focuses on how to enhance different Arab investments in cooperation with the Egyptian government notably in housing field. The agenda also focuses on providing job opportunities through establishing large and medium-sized industries in the much needed cities and New Suez Canal axis. More»