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GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        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        Canal Shipping Agencies   7.39        Egyptian for Tourism Resorts   0.69        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        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        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        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 - 2014-08-21 08:38:51
Cairo's criminal court has sentenced Hosni Mubarak-era minister Rachid Mohamed Rachid and his daughter Alya in absentia on charges of graft. The court also slapped the defendants with a LE522 million ($74 million) fine for illegally amassing a fortune of LE0.5 million ($71,400) and smuggling it to Cyprus without declaring the money to authorities. The alleged smuggling took place after Rachid left his ministerial post and fled the country following Egypt's January 2011 uprising. From 2004 to 2011, Rachid – who currently resides outside of the country – served as trade and industry minister for ousted president Mubarak. In 2011, in the wake of Egypt's Tahrir Square uprising, the former minister was sentenced in absentia to 20 years in prison on graft and corruption charges. Last year, Rachid settled two other legal cases in which he had been accused of squandering public funds while serving as trade minister, by paying a fine of LE15 million (roughly $2.2 million) to Egyptian authorities. More»
Amwal Al Ghad English - 2014-08-21 08:06:05
In response to Egypt’s call for restraint regarding protests in Ferguson, United States, State Department Deputy Spokeswoman Marie Harf said Wednesday that the situation witnessed in Ferguson is not comparable to what happens in Egypt. A spokesman of Egypt’s foreign ministry backed Tuesday the United Nations’ calls for the US to deal with the situation in Ferguson with restraint and “according to the American and international standards”. Demonstrations started in Ferguson, Missouri, following the shooting and killing of African-American Michael Brown by a policeman on 9 August. The US authorities have dealt with the demonstrations, which at times escalated into riots, by imposing a heavy police presence and curfew in the St. Louis suburb. In the Wednesday State Department press briefing, journalists suggested that the authorities’ reaction to the events in Ferguson is undermining US criticism on the human rights situation in other countries, such as Egypt. Harf responded that “people are free to say what they want [...] But I would certainly strongly disagree with the notion that what’s happening here is comparable in any to situations in some of those countries.” She stressed that countries are free to criticise the US, but that the country is also free to disagree with that criticism. The difference between the situation in the US and – among others – Egypt, she said, is that the US is dealing with its issues “openly and honestly and transparently”. “I would encourage the countries you named particularly [Egypt] to do the same thing,” she added. The spokeswoman repeated US concerns over the human rights record of Egypt, citing the imprisonment of journalists and mass death sentences, and rejected any comparison between the situation in Egypt and events in Ferguson. The US has criticised the human rights situation in Egypt following last week’s Human Rights Watch report on the violent dispersal of the pro-Muslim Brotherhood protest camps in Rabaa Al-Adaweya and Nahda squares in August 2013, which the human rights watchdog said left over a 1,000 dead. Harf said Monday that the US is “deeply disturbed” by the findings of the report. The Egyptian government accused the report of being biased in favour of the now outlawed Brotherhood and referred to it as “unprofessional”, “twisting the truth”, and “a flagrant violation of international law”. Various Egyptian politicians suggested that Human Rights Watch was part of the Brotherhood or aimed to spread chaos in the country. Harf angered Egyptian authorities when she said the US had temporarily suspended military aid to Egypt in October 2013 because the country had used the equipment “against their own people”, prompting a reaction from the Egyptian side that these comments were “sheer fantasy” and “completely ignorant of the realities in Egypt”. Egypt's foreign ministry said Tuesday it was "closely following the escalation of protests" in Ferguson, sparked by the shooting of an 18-year-old unarmed black teenager by a white policeman on 9 August. Foreign ministry spokesman Badr Abdel-Atty cited a statement by UN Secretary General Ban Ki-moon calling for restraint. He said Ban's remarks "represented the position of the international community towards these events, especially the call for restraint and the right to peaceful assembly and expression." Iran, China and Russia have also hit out at the unrest, with Tehran accusing Washington of "racist behaviour and oppression" and Beijing urging it to "concentrate on solving its own problems," according to local media. More»
Amwal Al Ghad English - 2014-08-21 08:12:36
Egypt's President Abdel-Fattah El-Sisi ratified amendments to a property tax law which will go in to effect retroactively from July 2013. The amendments – published in the cabinet's official gazette earlier this week – cover articles on the maximum limit in raising a property's valuation, exemptions and forming assessing committees. The first property tax collection will take effect retroactively from July 2013 and then property taxes will be collected annually in January of each year. The maximum limit on raising a property's valuation was set at 30 percent every five years for property used for private accommodation and 45 percent for all other properties. More»
Amwal Al Ghad English - 2014-08-21 08:05:26
Last week Egyptian President Abdel-Fattah el-Sissi visited Russia after his trip to Saudi Arabia. Other than its busy agenda the symbolic dimension of the visit was also discussed by the observers of Egyptian politics. In fact, Russia was the first non-Arab country that Sissi visited after the elections in Egypt. It was also Sissi's first destination after the military coup that he led in summer 2013. Both of these visits in the last seven months raised some serious questions in terms of the future direction of the foreign policy of Egypt. Obviously, when it was facing some criticism from the governments of Western countries and having difficulty acquiring arms, the Egyptian government was tilting toward Russia and was seeking "no strings attached" military and economic assistance from it. However, this attempt by the Egyptian government to try to use the power rivalry between great powers in order to gain an advantage of the situation is not a new phenomenon. Former Egyptian President Gamal Abdel Nasser also made similar moves during the Cold War and tried to make Egypt's position regarding the Cold War an issue for competition between the super powers. The main question here is whether the increasing ties between these two countries result in a significant shift in the geopolitics of the region or is it just a conjectural marriage of convenience for both countries. More»
Amwal Al Ghad English - 2014-08-21 06:48:45
The ministry of planning prepared a long term plan called 'Egypt 2020' that targets the implementation of reforms, restructuring of the Egyptian economy in parallel with new stimulus packages to boost the growth rate and stimulate the economy, said Ashraf AlAraby, Egypt's planning minister, in an interview with AlArabiya AlHadath channel. The minister added that the plan is targeting a 5.5% growth rate and curbing the budget deficit to 9% of the GDP. A legislative committee is looking into the amendment of legislative issues that impede investment, AlAraby revealed. Regarding the new Suez Canal project, the minister said that it will transform the Egyptian economy and serve the region and the world. He added that new industrial and logistic projects will be built in the Canal Area and 5 large ports. AlAraby declared that daily follow-ups are conducted for the Suez Canal Development project. More»
Amwal Al Ghad English - 2014-08-21 05:53:08
The Egyptian pound remained stable at a dollar sale by the central bank and on the black market on Wednesday. The central bank said it sold $37.6 million at a cut-off price of 7.1401 pounds per dollar, the same as its price in its last sale, on Monday. On the black market the dollar changed hands at 7.38/40 pounds, the same rate as a day before. The rate for dollar sales has stayed in a tight range since the beginning of June, after the bank allowed the pound to weaken in May. It had offered $40 million on Wednesday. The rates at which banks are allowed to trade dollars are determined by the results of the central bank sales, giving the bank effective control over official exchange rates. More»
Amwal Al Ghad English - 2014-08-21 05:51:18
Egypt's premier has promised a gradual improvement to the otherwise worsening problem of power cuts, with tangible results as soon as next week. Speaking to reporters from the presidential palace on Wednesday, Prime Minister Ibrahim Mahlab said he met with President Abdel-Fattah El-Sisi, who asked for a time-bound plan to tackle the problem. Mahlab said Egyptians will start feeling the progress made as of next Sunday. Some 4,810 megawatts (mW) of electricity will be added to the nationwide grid by November, which should ease the gap between production and consumption, said Mohamed Shaker, minister of electricity, at the press conference. Shaker also underlined the importance of diversifying the sources of electricity production due to insufficiency in natural gas. He suggested the use of liquified natural gas (LNG), nuclear energy and solar energy. For his part, Petroleum Minister Ashraf Ismail announced raising the supply of natural gas to electricity stations by 100 million cubic feet (mcf) daily at the beginning of August, an additional 60 mcf in the next few days, 220 mcf in September, 235 mcf in October and 250 mcf in November and December. The government is also planning to import LNG from Algeria and Russia, said Ismail, without specifying when. Ismail said that production of domestic gas fields naturally diminishes. However, new fields will start production by 2016. More»
Amwal Al Ghad English - 2014-08-21 05:49:35
Security officials said Wednesday they have arrested 13 members of a new alleged armed group that threatened attacks against police in south Cairo, Al-Ahram’s Arabic news website reported. Prosecution is currently investigating those arrested, who are believed to belong to “Kataeb Helwan,” Arabic for “Helwan Brigades,” officials told Al-Ahram. Helwan is a southern suburb of the capital. The alleged, self-proclaimed militia appeared in a video, published and circulated on social media networks, where they vowed to target all police facilities in south Cairo. The video, including a group of 12 men wearing masks, holding rifles and some waving the four-fingered sign associated with the forceful dispersal of the pro-Mohamed Morsi Rabaa Al-Adawyia camp in 2013, was reportedly released Thursday, on the first anniversary of the Rabaa dispersal. Interior minister Mohamed Ibrahim stated that police will investigate the video and ordered the arrest of those involved. Since Morsi’s ouster last summer, a wave of militant attacks have swept the country. Assaults have primarily targeted security forces and have been claimed by a radical Islamist militia known as Ansar Beit El-Maqdis. Smaller attacks were claimed by another group called Ajnad Misr. In prior videos released by Ansar Beit El-Maqdis and Ajnad Misr, the attacks are described as revenge for the violent crackdown against Morsi supporters that left hundreds killed and thousands in jail. More»
Amwal Al Ghad English - 2014-08-21 05:47:46
In a press statement issued on Wednesday morning, Egypt's foreign ministry expressed "deep regret" over the resumption of armed confrontations between Palestinian factions and Israel in the warn-torn Gaza Strip. Cairo warned that the new clashes will "definitely lead to more casualties and injuries among innocent civilians." "Egypt maintains its bilateral connections with both Palestinian and Israeli sides to urge them accomplish a new ceasefire deal and continue their positive involvement in the negotiations," the statement said, stressing the importance of building on what has been achieved in the indirect talks so far. "The aim is to open room for reaching a deal that insures a permanent ceasefire and achieves the interest of the Palestinian people, especially in terms of Gaza reconstruction and the opening of crossings." Israel and Palestinian factions have blamed each other for the collapse of an Egyptian-sponsored 24-hour truce late Tuesday which led to the re-eruption of armed confrontations. More»
Amwal Al Ghad English - 2014-08-21 05:43:54
A number of jailed Egyptian activists decided late Tuesday to go on an open-ended hunger strike in a new attempt to protest their detention. Founder of the April 6 Youth Movement Ahmed Maher, member Mohamed Adel, long-time activist Ahmed Douma and Mohamed Abdel Moneim (Al-Noubi), photojournalist of Al-Badil, decided to launch a new campaign against their detention. Zizo Abdo, April 6 Youth Movement member, told Ahram Online that the campaign was initiated by the detained activists, and that the movement will try to support it from outside. "We haven’t discussed how we will be supporting the campaign yet, but the detained activists will be on a hunger strike until they get released," said Abdo. The detainees' decision came a day after another prominent jailed activist, Alaa Abdel-Fattah, decided to go on hunger strike while in detention after visiting his sick father in hospital. More»