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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        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Orascom Telecom Holding (OT)   3.92        Rakta Paper Manufacturing   4.39        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        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        Heliopolis Housing   21.65        United Housing & Development   8.93        Raya Holding For Technology An   4.57        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        National Development Bank   6.72        Six of October Development & I   15.03        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 - 2015-03-31 19:10:34
US President Barack Obama is releasing military aid to Egypt that was suspended after a 2013 military overthrow of the first democratically elected president in that country. The White House says Obama is lifting the hold on sending F-16 fighter jets, tanks and other material to Egypt. The U.S. has been weighing whether to lift the hold to help combat the extremist threat spilling over from Libya and in the Sinai Peninsula. But the White House says it is not issuing a certification that Egypt has made progress toward democracy. Instead, the U.S. is maintaining that the aid is in the interest of U.S. national security. The U.S. had to do one or the other to unblock the aid. The funds were suspended 21 months ago when the military overthrew Islamist President Mohamed Morsi. More»
Amwal Al Ghad English - 2015-03-31 14:48:20
At a gathering of Arab leaders in Sharm el-Sheikh this weekend, Egyptian President Abdel Fatah al-Sissi read a letter from Vladimir Putin. "We support Arab nations in their effort to ensure a safe future and urge them to resolve all emerging challenges peacefully without any foreign involvement," the Russian president's message read, according to Sputnik News. These comments did not go down well with those in attendance. In particular, Saudi Arabia, which accused the Russian leader of hypocrisy. "He speaks about the problems in the Middle East as though Russia is not influencing these problems," Prince Saud al-Faisal, the Saudi foreign minister, said immediately after the letter was read. More»
Amwal Al Ghad English - 2015-03-31 13:15:49
In an unusual move, an Egyptian court acquitted Tuesday 68 people, including members of the outlawed Muslim Brotherhood, who were charged with gathering illegally and attacking security forces, judicial sources told Reuters. Authorities have cracked down hard on the Islamist movement since the army removed it from power in 2013 following mass protests against its rule. Security forces killed hundreds at protest camps and thousands were arrested. They also jailed high-profile secular activists, drawing fire from human rights groups. The court fined each of the 68 people 50,000 Egyptian pounds ($6,553) on separate charges of protesting without a permit on the Jan 25 anniversary of the 2011 uprising that toppled autocrat Hosni Mubarak. More»
Amwal Al Ghad English - 2015-03-31 09:32:36
German MP and head of the Christian Union parliamentary bloc, Volker Kauder, met Monday with Egyptian President Abdel Fattah al-Sisi Monday, sparking condemnation from the German opposition. After the meeting, which lasted over two hours, Kauder said Germany “absolutely needs to intensify” its relations with Egypt, calling the country an “anchor of stability”. He also said that his impression is that Egypt is likewise “strongly interested” in intensifying its relations with Germany. As reasons for the need to establish stronger cooperation, the MP named the “security situation” in the Middle East as the primary reason for the need to “support the democratic development of the country [Egypt]“. Kauder also stressed the importance of parliamentary elections taking place in “foreseeable time”, and to enable the press in Egypt to work “as freely as possible”. In the statement by the Christian Union parliamentary bloc, economic ties were mentioned “foremost” as a field for growing cooperation between the two countries. According to the statement, Al-Sisi expected German investments in his country to number roughly €20bn-€30bn. Another important aspect was the security cooperation, with assurances by the German side that there was a “strong interest that the relationships to Cairo develop successfully”. Kauder called the formation of a joint military force, as decided on at the Arab League summit on Sunday, as “a very important step”, since this force could “stabilise the region more than in the past”. He also called Al-Sisi’s confession to religious freedom, an important topic to the German MP in the past, “impressive” with Al-Sisi stating: “There are only Egyptians and no division between Christians and Muslims.” The German MP is known as an advocate for Christians abroad, stressing the importance to protect them as a minority. He voiced concerns as Morsi took power, warning not to transform the Egyptian civil state into a religious one, and to maintain dialogue with social groups, especially including Christians. Kauder arrived in Egypt on Saturday evening, visiting Luxor on Sunday. The schedule included a meeting with the local governor. On Monday his programme in Cairo started with talks with cultural workers, then moving on to meet Al-Sisi. In the afternoon, he met Grand Sheikh of Al-Azhar Ahmed El-Tayeb, before moving on to meet German industry representatives in Egypt, according to an embassy representative. Kauder has visited Egypt several times since the 25 January Revolution, with this visit marking his fifth in as many years. Among these visits were one during ousted President Mohammed Morsi’s reign and another one after his ouster, to meet Al-Sisi, then still Minister of Defence. He was one of the first higher-ranking European representatives to do so after the ouster, which has been viewed by many European governments as a military coup. After Al-Sisi’s election to president, he stated that it was “a chance for more stability and a better future”. Christine Buchholz, member of the executive board of German left-wing opposition party DIE LINKE, called the visits of Kauder and Vice Chancellor Gabriel to Egypt in a statement issued to Daily News Egypt “tasteless concerning the violent acts by the Egyptian military against the opposition”. Buchholz mentioned the hundreds of death sentences handed out by Egyptian courts, and the “inhumane circumstances” under which “thousands of journalists and political enemies” are held in Egyptian prisons. Buchholz also called the invitation of Al-Sisi to Germany a “recognition of the bloody coup” that saw Al-Sisi take power while calling the following elections “a farce concerning repression and prosecution of great parts of the opposition.” Earlier this year Al-Sisi had been invited to meet German Chancellor Angela Merkel in Berlin, a visit that is expected to take place in two to three months. A previous invitation was conditional on parliamentary elections – a condition that was removed after the delay of the elections. Germany is an important partner to Egypt, especially concerning its economic investments in the country and its arms exports. This arms export practice has in the past also sparked strong criticism. More»
Amwal Al Ghad English - 2015-03-31 09:12:46
Egypt’s efforts to chip away at a daunting budget deficit have taken hold, with the country reporting that the government spent about 30% less on fuel subsidies during the first half of the current fiscal year compared to the same period in 2014. Coupled with myriad other financial challenges facing the country, energy subsidies have proven especially difficult to manage or reduce, creating an enormous challenge for the government’s attempts to draw down its daunting debt. According to Sherif El Diwany, Executive Director of the Egyptian Center for Economic Studies in Cairo, government subsidies made up about one-third of the government’s budget in 2014 and 75% of that amount is set aside for energy sector subsidies. Despite calls for reform both domestically and internationally, reducing that support system has been especially difficult. Cairo began chipping away at the subsidies, which had previously been politically untouchable due to the high number of people who relied on them. Last summer, the subsidies were reduced by up to 78 percent, according to local media reports. The country’s energy standing was further helped by the sharp decline in oil prices in recent months, allowing some breathing room for the import-dependent nation. As a recent Vox report noted, falling global oil prices have provided some cover for governments like Egypt’s to finally dial back expensive and ultimately unsustainable subsidy programs, as the reductions don’t land quite the same punch when prices are already lower. This is especially true in a place like Egypt where the revenue needed to pay for said subsidies is not attached to a country’s own energy earnings, such as Venezuela. Egypt has a long history of energy challenges, though they have grown especially daunting over the last four years. With the collapse of the long-standing government of Hosni Mubarak, the country of over 80 million found itself economically isolated, which served to reduce its foreign reserves and with it, the ability to keep up payments to oil and gas importers. At the same time, the country’s domestic production has continued to slow, a situation made worse by a series of attacks on eastbound gas pipelines to buyers in Israel and Jordan, further reducing needed energy sector revenue. In addition to assisting Cairo in their efforts to draw down debt, the subsidy progress also helps Egypt improve their standing in the eyes of international lenders and ratings agencies. Across the world, subsidy programs have been strongly criticized for their cost and unsustainability. According to a Cairo Post report, subsidy reforms were a contributing factor to the recent upgrade of the country’s credit rating by Fitch Ratings. More»
Amwal Al Ghad English - 2015-03-31 08:16:23
Egypt is coordinating with Saudi Arabia and Oman to facilitate the return of Egyptian expats in turmoil-hit Yemen, Egypt's foreign ministry said on Monday. The statement follows the launch on Thursday of a Saudi-led military operation against Houthi militants in the country, in which Egypt is participating. The foreign ministry announced that Oman had agreed to allow Egyptians in Yemen to travel into Oman through the Al-Mazyouna and Sarfait border crossings. More»
Amwal Al Ghad English - 2015-03-31 08:00:42
Egypt's prosecutor-general on Monday ordered the arrest of a former Qalioubiya governor and judge, pending investigations into his participation in an illegal protest, the Ahram Arabic news website reported. The head of the Cairo Appeal Court, Hassan El-Naggar, on Monday participated in a protest allegedly led by members of the Muslim Brotherhood in the Nasr City district of east Cairo. El-Naggar will be jailed for 15 days pending investigations, according to the prosecutor-general's order. More»
Amwal Al Ghad English - 2015-03-31 07:50:37
Egyptian warships shelled a column of Houthi fighters and troops loyal to former president Ali Abdullah Saleh as they tried to advance on the southern port city of Aden on Monday, according to reports. Yemeni journalist Abdel-Aziz El-Meguidi told Ahram Online via phone that naval forces had struck Houthi reinforcements heading from Shokra to Aden. Reuters quoted residents as saying that the vessels were believed to be Egyptian warships that sailed last week through the Suez Canal toward the Gulf of Aden, in the first known report of naval forces taking part in the conflict. Sky News also cited unnamed sources confirming the same news, saying the warships are Egyptian. Egypt is a member of the Saudi-led coalition that has been targeting Houthi positions to stem their advance on Aden, a last foothold of fighters loyal to President Abd-Rabbu Mansour Hadi. No comment was immediately available from Egyptian officials. Source: Ahram Online More»
Amwal Al Ghad English - 2015-03-30 16:11:45
The collaboration between UAE and Egypt in developing Egypt’s New Capital City can be extended to other Arab countries as a model relationship, UAE economy minister said on Monday. UAE’s Economy Minister Sultan Bin Saeed Al Mansouri made his remarks after he had inaugurated the 11th edition of International Property Show. He added: "The UAE’s involvement in this ambitious project reflects a pioneering initiative, and we look at it as a model that other countries can follow and emulate. The UAE has gained tremendous expertise in the real estate field that could benefit other countries in the wider region. He said, "Real estate is considered one of the most significant investments worldwide and it forms one of the main pillars of any economy. This sector is witnessing strong growth, especially in the Arab world, and therefore both private and government sectors in Arab countries must take it seriously by taking actions like new legislation, support, innovation and easy liquidity." Attracting hundreds of exhibitors from around the world, the 11th International Property Show is offering a variety of real estate investment options from places like the US, Spain and Canada. The event has brought together 300 exhibitors from 130 countries offering direct buying opportunities to interested buyers. A full range of properties from ultra-luxury residences to more affordable developments in the UAE are on offer. There are also exhibitors showcasing investment options in cities like Manhattan and New York, as well as amazing offers in Europe. Some are linking their properties to residence visa schemes. The IPS Real Estate Forum also kicked off today, organised in collaboration with the Association of International Property Professionals, Royal Institution of Chartered Surveyors and Dubai Land Department to provide insights into investment opportunities. The first day highlighted the various investment opportunities in key overseas property markets such as Spain, the US and Australia. The topics to be covered tomorrow (31st March) include the effective use of expert witnesses in property disputes, international property standards, responsible business practice toolkit for the land, construction and real estate sectors and strategic facility management. ''We have designed the forum to cover all aspects of the real estate industry and give insights into latest property trends across the Middle East as well as internationally,'' said Josine Heijmans, Exhibition Director, Strategic Marketing & Exhibitions. Local exhibitors at the show include Dubai Properties Group, the show's exclusive strategic partner, and silver sponsor Damac. Also attending are Al Barari, Azizi Developments, Cavendish Maxwell, Chestertons Affinity Spain, DemirInsaat, Doka, Downtown Real Estate, GRE Assets, Green Valley Real Estate, HMG Properties, Metta Estates, New York Residences, Remar, Richland, Sherwoods, Tebyan Real Estate, Union Properties, Wahat Al Zaweya, Sherwoods among others. More»
Amwal Al Ghad English - 2015-03-30 10:07:56
Egypt’s President Abdel Fattah al-Sisi is set to meet Monday with German Parliamentarian Volker Kauder, as Egypt and Germany take steps to strengthen their ties. The Egyptian president will hold talks with the leader of the parliamentary block of the Christian Democratic Union of Germany (CDU), at the Ittihadiya presidential palace, a presidency statement read. Last year, Kauder hailed the election of El-Sisi on his own personal website, describing it as a “chance for greater stability and better future.” The German politician also said Egypt needs social reconciliation, job creation and coexistence between Egypt’s Muslim majority and Christian minority. Egypt and Germany appear to take steps to strengthen their relationship as German Chancellor Angela Merkel, who is also the CDU leader, has invited El-Sisi in mid-March to visit Germany following the completion of Egypt's delayed parliamentary elections. Merekel’s invitation came after Egypt announced a $10.5 billion deal with German industrial giant Siemens to build power plants that will boost the country's electricity generation capacity by up to a third. The deal was announced in mid-March in Egypt’s Economic Development Summit. In the aftermath of the ousting of Islamist president Mohamed Morsi in 2013, Germany has expressed concerns regarding some of Egypt’s domestic policies. In April 2014, Germany summoned Egyptian ambassador to protest against the mass death sentences handed to members of the outlawed Muslim Brotherhood. "The hundreds of death sentences make a mockery of what we understand to be democratic principles," Foreign Minster Frank-Walter Steinmeier said in a statement at the time. More»