amwalalghad :: Egypt News

Your English Portal To Arab Economy

Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Pioneers Holding   2.84        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        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        National Real Estate Bank for    11.84        Egyptian Chemical Industries (   7.26        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        Credit Agricole Egypt   9.04        Palm Hills Development Company   1.61        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        Egyptian Transport (EGYTRANS)   7.85        Sharkia National Food   3.78        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        Prime Holding   0.91        Al Arafa Investment And Consul   0.17        Alexandria Spinning & Weaving    0.74        Gharbia Islamic Housing Develo   8.41        General Company For Land Recla   16.6        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 - 2016-09-04 08:00:10
The Cairo Criminal Court began its first court session for the retrial of Air Defence Stadium case in which 16 Ultras White Knights (UWK), Al-Zamalek SC fans, are accused of violence and rioting. In February, the North Cairo Criminal Court ordered a re-investigation into the violent events that occurred outside the Air Defence Stadium last year and commissioned Judge Wagdy Abdel Moneim to supervise investigations. Among the defendants in this case is Sayed Moshagheb, who is serving a one-year prison sentence on charges of storming into Al-Zamalek SC’s club. Moshagheb, a prominent UWK member, previously went on a hunger strike to protest his mistreatment in the notorious Al-Aqrab prison. On 8 February 2015, a premier league football match between Al-Zamalek SC and ENPPI’s team took a violent turn as fans were attempting to enter the Air Defence Stadium. Many fans were killed when security forces violently dispersed the crowds at the entrance to the stadium. During these clashes, at least 22 fans were killed in violence between security forces and Al-Zamalek SC supporters. The Air Defence Stadium deaths led to an uproar from different political parties, coalitions, opposition groups, and institutions. All parties mourned the dead and expressed their condolences to the victims’ families. More»
Amwal Al Ghad English - 2016-09-04 07:51:14
Following its intervention to fill in the shortage of subsidised infants milk that occurred on Thursday, the Armed Forces said that the step was an attempt to counter the greed of traders and companies. A statement on Saturday by Mohamed Samir, the army’s spokesperson, said that the initiative took place when the army noticed that “companies importing the milk monopolised the packets to increase the price, which will increase the suffering of ordinary citizens”. On Thursday, dozens of families protested in front of the Egyptian Pharmaceutical Trading Company against the shortage of subsidised baby formula. Families decided to assemble at the company’s headquarters and block the main road, after going back and forth between the company and other retail outlets in search of the formula. Following the incident, Minister of Health Ahmed Emad said the milk will only be sold in outlets belonging to the Health Ministry, which amounts to 1,005 outlets across Egypt, including 109 in Cairo. According to an official statement from the ministry, the families were directed to the new outlets and 22 cases were given the formula following their review. According to some families’ testimonies, the subsidised formula is much cheaper than the one found in pharmacies. One of the protestors, who came from Menoufiya in search of the milk, told Daily News Egypt that the price for a single packet is EGP 17, whereas in pharmacies it can go up to EGP 65, which he cannot afford. Many of the families had travelled from other cities to Cairo in search of the formula. The army said in its statement that it will coordinate with the Health Ministry to provide the formula at a price of EGP 30 instead of EGP 60. The decision was met critically and interpreted as a step by the army to monopolise the industry. In the Saturday statement, the army also refuted claims that it had already imported the formula packets ahead of the controversy, adding that importing will begin starting from 15 September. In addition to the formula, the army also administers mini-markets all over the country, selling subsidised meat and poultry. In July 2014, Minister of Defence Sedki Sobhi issued orders to private army outlets, the National Service Authority and the General Services Authority, to slash food prices in bulk, following the increase in prices of food items that occurred when Al-Sisi’s first government decided to cut budget spending on energy subsidies in the FY 2014/2015 budget by EGP 34bn. More»
Amwal Al Ghad English - 2016-09-04 07:43:05
President Abdel Fattah Al-Sisi arrived in China on Saturday to attend the G20 summit, taking place in Hangzhou from 4-5 September. This year’s theme for the summit is working “towards an innovative, invigorated, interconnected and inclusive world economy”. The G20 summit will focus on building an inclusive global economy, international governance, and economic development and innovation. The summit will see discussions on six main topics among at least 25 country leaders, including trade investments, infrastructure, small- and medium-sized enterprises (SMEs), and fighting corruption. Al-Sisi is participating in the summit for the first time since he was appointed president in June 2014, upon an invitation from the Chinese president Xi Jinping. The previous G20 summit was held in Turkey in November 2015. “We should strive to build an innovative, invigorated, interconnected, and inclusive global economy and explore new ways to drive development and structural reform,” Jinping said in December 2015 ahead of the G20 preparations. He added: “China will work with all other parties to pull in one direction in the spirit of win-win partnerships.” Preceding his visit to China, Al-Sisi signed several maritime agreements with India during a short visit there. Egypt and India also agreed on a military and security cooperation, especially in terms of counter-terrorism measures. Additionally, the countries decided to strengthen cultural and touristic ties, as well as scientific and technological cooperation, particularly in the areas of renewable energy, information and communications, and space technology. More»
Amwal Al Ghad English - 2016-09-04 07:35:52
Less than a week after the new law facilitating the building of churches was approved by Egypt’s parliament last week, a Muslim MP has taken the initiative of submitting the first request to build a new church in his native governorate of Assiut in Upper Egypt. "I wanted it recorded in history that a Muslim was the first to submit a request for building a church in Egypt after the passing of the new landmark law," the independent MP, El-Badri Ahmed Deif, told reporters Saturday. "This request aims to build new bridges of confidence between Muslims and Christians and foster national unity in Egypt." More»
Amwal Al Ghad English - 2016-09-03 09:35:36
European Union (EU) ambassador to Egypt James Moran bid farewell on Wednesday night, completing four years in office. In a farewell reception, Moran expressed how hard it is for him to leave Egypt. “My wife and I have had an extraordinary experience. We arrived here in February 2012. We have lived with you a very important part of the history of the 21st century here in this country. We have seen things, and above all, we have learnt things that we will never forget, and we will not fail to pass on the lessons to all our friends and colleagues back in Europe,” the ambassador said in a statement. The ambassador added that his new position will be linked to the Middle East, but from the headquarters of the EU in Brussels. Moran has also served in Libya during the revolution against former president Muammar Gaddafi. More»
Amwal Al Ghad English - 2016-09-03 08:18:08
Turkey, which patched up strained ties with Israel and Russia, is seeking to normalise relations with Egypt and even rebuild ties in future with Syria, where it has launched a cross-border offensive, the prime minister stated Friday. "God willing, there will be normalisation with Egypt and Syria," Prime Minister Binali Yildirim told a televised briefing with ministers. "Turkey has started a serious attempt to normalise ties with Egypt and Syria." He did not give a timeline for restoring ties with either of the Arab nations. Any improvement would mark a further shift in its regional foreign policy that has shown of signs of increasing pragmatism, analysts say. Turkey has long called for President Bashar al-Assad to quit as part of a political solution in its conflict-torn neighbour, but has recently been less vocal about the need for him to leave immediately, concerned more by the prospect of Syria's division and the potential creation of a Kurdish enclave on its border. Ties with Egypt have been strained since the Egyptian army, under President Abdel Fattah al-Sisi, ousted the elected Muslim Brotherhood President Mohamed Mursi following mass protests. Turkey built close ties with Egypt's first Islamist president. Turkey's decision to rebuild Israeli ties, strained over the Palestinian issue, and Russian relations, broken over Turkey's shooting down of a Russian warplane over Syria, signalled a more pragmatic approach in Turkish foreign policy, analysts say. More»
Amwal Al Ghad English - 2016-09-03 07:37:46
President Abdel-Fattah Al-Sisi signed a maritime transportation agreement with Indian prime minister Narendra Modi in New Delhi on Friday, after discussing Egypt and India’s bilateral relations. The duo also discussed the latest developments in the Middle East, and their keenness on more cooperation in different fields, as well as counter-terrorism measures. Following the meeting, Al-Sisi held a joint press conference with the Indian prime minister. The president expressed his happiness about visiting India after he was invited by his Indian counterpart. Al-Sisi said that the visit has proven the depth of relations and ties of cooperation between Egypt and India, and their convergence of views regarding most international and regional issues. The president praised the strong relations between both countries, asserting that each party is keen to continue cooperation in order to find solutions for various international issues, despite the changing international circumstances. He said that both countries were keen on strengthening their relations and cooperating given the increase of threats and common challenges, ranging from terrorism and extremism, to climate change and the need of sustainable energy sources for future generations. ‘’My discussion with the Indian prime minister revealed a consensus of views and clear intentions on enhancing our joint cooperation in a number of fields,’’ Al-Sisi said. The two sides agreed to cooperate on a number of issues, such as working on an integrated plan to upgrade the economic and trade cooperation. Both countries want to intensify mutual investments, and promote the exchange of expertise in various areas of development. Egypt and India also agreed on a military and security cooperation, especially in terms of counter-terrorism measures. Additionally, the countries decided to strengthen cultural and tourism ties, as well as scientific and technological cooperation, particularly in the areas of renewable energy, information and communications, and space technology. The president concluded his speech by inviting Modi to visit Egypt in order to consolidate the ties of friendship and cooperation, thanking “the nation of India and its great leadership”. On Thursday, Al-Sisi met with Indian external affairs minister Sushma Swaraj to discuss ways of developing bilateral relations in various fields, especially through trade cooperation and increasing the number of Indian tourists to Egypt. The meeting also discussed the prospects of enhancing cooperation and coordination between the two countries to counter terrorism. More»
Amwal Al Ghad English - 2016-09-03 07:32:42
In response to dozens protesting against the shortage of subsidised infant milk, Health Minister Ahmed Emad said the gathered families did not know the new outlets for selling the milk. Dozens of families protested on Thursday morning in front of the Egyptian Pharmaceutical Trading Company against the shortage of subsidised infant milk. Emad said that according to a new decree, the milk will only be sold in outlets belonging to the Health Ministry, which amount to 1,005 outlets across Egypt, including 109 in Cairo. According to an official statement from the ministry, the families were directed to the new outlets and 22 cases were given the milk after review. Families decided to assemble at the company headquarters and block the main road, after going back and forth between the company and other retail outlets in search for the milk. According to some families’ testimonies, the subsidised milk is much cheaper than the one found in pharmacies. One of the protestors, who came from Menoufiya in search for the milk, told Daily News Egypt that the price for a single packet is EGP 17, whereas in pharmacies it can go up to EGP 65, which he cannot afford. Many of the families had travelled from other cities to Cairo to get the milk. More»
Amwal Al Ghad English - 2016-09-03 07:24:06
President Abdel Fattah Al-Sisi met with the United States (US) secretary of state John Kerry in New Delhi on Thursday evening, as both officials’ visits to the Indian capital coincided, according to the presidency spokesperson Alaa Youssef. Egypt’s Foreign Affairs Minister Sameh Shoukry also attended the meeting. Al-Sisi stated during the meeting that Egypt is looking forward to advancing its decades-long strategic relations with the US and to enhance the cooperation on various levels to fulfil the common interests of both countries. The president also confirmed the significance of the continued consultations and coordination between the two countries over regional issues and developments, which enables the confrontation of various challenges in the Middle East. Meanwhile, Kerry said that the US highly values its partnership with Egypt, and looks forward to strengthening the bilateral cooperation. He also confirmed that Egypt has a significant role in the Middle East, considering it an essential supporter for security and stability in the region. He additionally confirmed that the US is committed to support Egypt’s stability, and added that consulting with Egypt on various regional issues contributes to achieving stability in the region. The meeting addressed the situations and latest developments in different countries in the Middle East, especially those facing unstable conditions, such as Syria and Libya. The officials also discussed international efforts to reach a political solution to restore peace and stability in the region. More»
Amwal Al Ghad English - 2016-09-01 09:38:47
Egypt is confident that the G20 summit to be held in China's Hangzhou will succeed in working out ways to promote world economic growth, and Cairo's ties with Beijing will grow stronger, said Egyptian President Abdel Fattah al-Sisi  in an interview on Wednesday. "I am confident that the results of the upcoming summit will meet the aspirations of our peoples and the international community as a whole," President Sisi said in an interview Wednesday with Xinhua and other Chinese media based in Cairo. Sisi's remarks came ahead of his upcoming visit to China's eastern city of Hangzhou to attend the G20 summit scheduled for Sept. 4-5 as a guest of honor at the invitation of his Chinese counterpart Xi Jinping. The Egyptian president hailed China's "great and creative efforts" in leading the G20 this year and preparing a bunch of key initiatives and work plans in various fields to be highlighted during the summit. Held under the theme of "Toward an Innovative, Invigorated, Interconnected and Inclusive World Economy," this year's summit is expected to redraw the map of world economy that has been facing decline over the past few years through balanced, inclusive economic development-based policies to benefit big and small economies alike. Sisi said that the theme "summarizes Egypt's vision on the methods of world economic administration." "The theme honestly reflects what the world economy needs today, as it stresses building a world economy where all efforts combine. Developing countries need the economic expertise and finance capabilities of developed countries, which in turn need promising markets in developing countries to absorb their products," said the Egyptian leader. It is the first time for Egypt, which is not a G20 member, to be represented in such a massive international economic event, known by experts as the board of the world's economy, and the Arab, African developing country is expected to seize the opportunity to present its economic map and investment environment to attract foreign investors. Sisi hoped Egypt's participation in the G20 summit will enhance the country's practical cooperation with members of the group, stressing that Egypt seeks close cooperation with China to achieve the goals of the summit. Describing Egypt's ties with China as "strong and extended," Sisi noted that the historical ties between the two countries provide promising chances for their further cooperation and coordination. Sisi has visited China twice since he came to office in mid-2014 and was invited to the G20 summit during Chinese President Xi Jinping's first state visit to Egypt in January. The two leaders agreed to elevate the bilateral relationship to a comprehensive strategic partnership in December 2014. Sisi said that his invitation to the summit embodies the depth of friendship and partnership between the two countries. "Egyptian-Chinese relations grow stronger day after day and extend to include various fields of cooperation at all levels, given the technological and finance capabilities of China and the promising investment and business opportunities provided by Egypt," the Egyptian leader said. He also emphasized that Egypt's unique strategic location can make it "China's portal to Africa." "Egypt welcomes Chinese investments that can export their products to the African states with which Egypt has free trade agreements," Sisi said, noting Egypt hosted in June 2015 the signing of a tripartite free trade agreement between the East African Community (EAC), the Southern African Development Community (SADC) and the Common Market of Eastern and Southern Africa (COMESA). Being the portal for the Arab world, Africa and also Europe through the Mediterranean Sea, Sisi believes that Egypt can play a key role in the Belt and Road Initiative proposed by Xi in 2013. "Egypt supports the Chinese president's initiative to revive the Silk Road, and is keen on supporting such positive initiatives that seek to achieve cooperation and interests of peoples, bearing in mind that Egypt can be a main focal point for the implementation of this initiative through the Suez Canal projects," the Egyptian leader pointed out. "Egypt is interested in learning from China's pioneering experience in different fields," the Egyptian president continued, citing China's successful experiences in the fields of administrative development, e-government, scientific research, communication and information technology, agriculture, technical training and rehabilitation and small medium enterprises. Over the past few years, which saw the ouster of two heads of state in 2011 and 2013, security issues caused Egypt economic recession featuring a growing budget deficit, declining foreign currency reserves, ailing tourism and fleeing foreign investments. The challenges led the most populous Arab country to seek a 12 billion U.S. dollars loan recently from the International Monetary Fund (IMF) to implement a tough, three-year economic reform program. During his visit to Cairo, Chinese President Xi Jinping made an important speech at the Arab League headquarters where he highlighted "development" as the key to resolve most Middle East problems including growing terrorism and chaos. "Amid all challenges rises the role of the Group of 20, especially China. The group is qualified to play an active role at the international level in different international issues, topped by fighting terrorism," the Egyptian president hoped, stating that the G20 states represent two-thirds of the world population, 85 percent of the world GDP and more than 75 percent of the world volume of trade. Sisi emphasized that maintaining security and stability requires providing a suitable environment for economic growth, creating job opportunities and settling growing disputes," which are all conditions used by terrorist groups to recruit new elements." He also stressed the necessity for uprooting the resources that provide terror groups with funds and arms, calling for punitive measures against the countries that assist them. "Egypt is keen to enhance its cooperation with China in various fields including fighting terrorism, which Egypt believes has to be done through a comprehensive strategy that is not restricted to military and security cooperation but is extended to involve economic and social dimensions," said the Egyptian president. More»