amwalalghad :: Egypt News

Your English Portal To Arab Economy

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        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        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 - 2016-08-14 08:16:22
The permanent delegation of South Sudan praised their Egyptian counterparts for abstaining from voting on the United National Security Council (UNSC) decision to deploy more “regional protection forces” in South Sudan on Friday. The resolution passed with 11 votes in favour of the intervention and four abstentions. South Sudan promptly rejected the decision and refused to cooperate. The resolution will impose an arms embargo in case the government does not cooperate. Egypt abstained from voting after the UNSC decided to deploy 4,000 soldiers in Juba, according to a statement released by the Ministry of Foreign Affairs. Egypt was among four countries which refrained from voting, including Russia, China, and Venezuela. The Egyptian delegation pointed out that the UNSC is ignoring the South Sudanese government’s stance regarding the intervention, stressing that the approval of the government should be mandatory and also a legal requirement. More»
Amwal Al Ghad English - 2016-08-14 07:56:36
President Abdel-Fattah al-Sisi reiterated on Saturday that Egypt is facing major economic challenges, saying authorities and citizens must work together and embrace reforms to overcome such dire conditions. “We need to cooperate together, as a nation, to face the current difficult economic conditions,” al-Sisi told Egyptians during the inauguration of a petrochemical complex in Alexandria. In the televised speech, al-Sisi talked about coming economic reforms, including reforms of subsidies. His statement comes a few days after Egypt and the IMF reached an initial deal for a $12 billion fund facility over three years, expected to be approved by the fund's executive board as well as the country's parliament in the coming weeks. The Egyptian economy in the course of 60 years, al-Sisi said, has been hit with several blows due to wars, including the 1956 war, the Yemen war, the1967 war, and the 1973 war. What also added fuel to fire, al-Sisi said, is the perennial terrorism that repeatedly took a toll on tourism. Moreover, an increase in state salaries had led to an EGP 600 billion increase in domestic debt throughout the past four years, he added. According to al-Sisi, salaries rose from EGP 80 billion before the 2011 revolution to EGP 228 billion yearly after it, raising domestic debt from EGP 800 billion to 2.3 trillion pounds, or a rate of 97 percent of GDP. He added that 900,000 people have been appointed in the public sector, even though the sector doesn't need such so many employees. al-Sisi said that the first attempt to introduce economic reforms was in 1977, during the presidency of Anwar El-Sadat, who introduced austerity measures, including the removal of subsidies on basic goods. The country then witnessed large-scale popular protests, known as the “bread intifiada,” leading the government to retreat on the measures. Succeeding governments were afraid to enforce such measures, El-Sisi said, stressing that he will do whatever necessary to improve the economy. "All tough decisions that many hesitated over long years [...] to take, I will not hesitate for a second to take," he said to applause. He added that whatever procedures the government would undergo, they would always keep an eye on the “humble citizen.” More»
Amwal Al Ghad English - 2016-08-14 07:42:53
Renowned lawyer and political activist Mahinour Al-Massry and journalist Youssef Shabaan were released from prison on Saturday after completing their prison sentences. The events of the case date back to 2013, during the rule of the now outlawed Muslim Brotherhood, when both were convicted for storming into Al-Raml police station in Alexandria. More»
Amwal Al Ghad English - 2016-08-13 09:17:58
Twenty-three Egyptian citizens who had been kidnapped by an armed group in Libya have been freed and arrived in Cairo on Friday, the website of Egypt's state television channel reported. More»
Amwal Al Ghad English - 2016-08-13 08:37:44
The floods and heavy rain currently hitting Sudan have not affected navigation between the country and Egypt on Lake Nasser, said the head of the Aswan High Dam's port on Friday. In statements to MENA, Yasser Ibrahim said that 184 Egyptian and Sudanese passengers departed via the port this week heading to Sudan in the regular weekly crossing, while the port received 204 Egyptian and Sudanese passengers as well other nationalities arriving from Sudan. More»
Amwal Al Ghad English - 2016-08-13 08:29:35
Egypt and the International Monetary Fund announced Thursday that they had agreed on an initial financing accord, and many economists agree that the reforms it will entail are inevitable in order to boost the economy. But to what extent the deal will be helpful in the long-term is nevertheless contentious. Egypt and IMF reached a staff-level agreement on a $12 billion fund facility over three years which is expected to be approved by the fund's executive board in the coming weeks. Hany Genena, senior economist at Pharos Holding for Financial Investments, argues the loan is indispensable, as without it Egypt's economy would reach a "catastrophic state of recession." Agreeing with Genena, Hany Farahat, senior economist at CI Capital, calls the deal a "lifeline" for Egypt. "The impact of the loan is inflationary on the shorter term but it guarantees higher stability over the longer term which is what we need," he said. "I would rather bite the bullet on inflation over the short term, in return for long-term stability of prices and better micro-dynamics than continuing with the status quo." "We are in desperate need for that loan not because of the funding itself but because we need a vote of confidence in our reform programme following five years of instability. This is what investors want to hear," Farahat added. Egypt relies heavily on imports to feed its 91-million population, and has been suffering from an acute foreign currency shortage since the 2011 revolution and following unrest, which have spooked investors and tourists. According to the IMF, the reform programme "aims to improve the functioning of the foreign exchange markets, bring down the budget deficit and government debt, and to raise growth and create jobs, especially for women and young people. It also aims to strengthen the social safety net to protect the vulnerable during the process of adjustment." Amr Adly, a non-resident scholar at the Carnegie Middle East Center, said that even though these "austerity measures" are inevitable in all cases with the IMF loan or without it, "such as the currency devaluation", the benefits of the deal over the longer term amid risks of global economy recession are not guaranteed. However, he said that loan may improve the indicators of the macro-economy such as decreasing inflation and stabilising the currency. More»
Amwal Al Ghad English - 2016-08-13 08:12:51
Egypt and the International Monetary Fund announced Thursday that they had agreed on an initial financing accord, and many economists agree that the reforms it will entail are inevitable in order to boost the economy. But to what extent the deal will be helpful in the long-term is nevertheless contentious. Egypt and IMF reached a staff-level agreement on a $12 billion fund facility over three years which is expected to be approved by the fund's executive board in the coming weeks. Hany Genena, senior economist at Pharos Holding for Financial Investments, argues the loan is indispensable, as without it Egypt's economy would reach a "catastrophic state of recession." Agreeing with Genena, Hany Farahat, senior economist at CI Capital, calls the deal a "lifeline" for Egypt. "The impact of the loan is inflationary on the shorter term but it guarantees higher stability over the longer term which is what we need," he said. "I would rather bite the bullet on inflation over the short term, in return for long-term stability of prices and better micro-dynamics than continuing with the status quo." "We are in desperate need for that loan not because of the funding itself but because we need a vote of confidence in our reform programme following five years of instability. This is what investors want to hear," Farahat added. Egypt relies heavily on imports to feed its 91-million population, and has been suffering from an acute foreign currency shortage since the 2011 revolution and following unrest, which have spooked investors and tourists. According to the IMF, the reform programme "aims to improve the functioning of the foreign exchange markets, bring down the budget deficit and government debt, and to raise growth and create jobs, especially for women and young people. It also aims to strengthen the social safety net to protect the vulnerable during the process of adjustment." Amr Adly, a non-resident scholar at the Carnegie Middle East Center, said that even though these "austerity measures" are inevitable in all cases with the IMF loan or without it, "such as the currency devaluation", the benefits of the deal over the longer term amid risks of global economy recession are not guaranteed. However, he said that loan may improve the indicators of the macro-economy such as decreasing inflation and stabilising the currency. More»
Amwal Al Ghad English - 2016-08-13 08:13:13
In connection with preparations for the resumption of Russian tourist flights to Egypt, Moscow officials have confirmed that they will conduct checks of Egyptian airport security later this month. At the same time, Russian firms have offered Egyptian security services with high-tech means to ensure security in airports and other public places. On Thursday, Russian media reported that Egyptian aviation authorities will be expecting a visit by Russian airport security experts later this month. The experts are expected to check the security measures in place at several airports across the country for any weak points they might have. Russian tourism flights to Egypt were halted after a Russian Airbus was brought down in a terror attack in October 2015 over Sinai, killing all 224 passengers and crew onboard. Last month, Russian Transport Minister Maxim Sokolov met with his Egyptian colleagues in Moscow. The two sides agreed to develop a bilateral agreement on security cooperation, and the possibility of Russian security experts working directly to ensure safety at Egypt's airports. At the same time, Russian firms have offered Egypt modern equipment for ensuring security at public places. A delegation involving representatives of eight Russian companies producing security equipment visited Egypt recently to participate in a "Safety & Security" symposium, offering the Egyptian side with a number of technologies and systems meant to radically improve the safety standards at the country's airports. Sputnik was able to find out a few details about some of the systems and technologies being offered by the Russian companies. These include special sensors for the detection of drugs and explosives. The sensors, about the size of a small sheet of paper, can detect drugs and determine their type, along with explosive materials, and change color when illegal or dangerous contents are present in packages or luggage. Another Russian firm presented a portable device for detecting explosives. The mechanism is compact, and can be carried by plainclothes security personnel in their pockets, allowing them to move near suspicious objects without being detected by any suspicious persons. The device works in two phases, the first working to detect explosive material, and the second identifying it and displaying relevant information regarding which dangerous or prohibited substance is present. The Russian side also presented cameras equipped with radar for monitoring sensitive or off-limits areas. Movement is detected by radar, which then sends a signal to the camera, which is automatically directed to the location where movement was recorded. The camera also includes automatic zoom, if necessary, depending on its distance from the suspicious movement. Finally, another company presented a camera with face recognition technology capable of identifying wanted terrorists. Set up in airports, train stations and other public areas, the camera can read faces and compare them in real time with the databases of Egypt's Interior Ministry. More»
Ahmed El Demrdash - 2016-08-11 13:03:02
State-owned Egyptair Maintenance & Engineering (EGME) succeeded to renew the approval of U.S. Federal Aviation Administration (FAA), Chairperson Abou Taleb Tawfik stated Thursday. The chairman added that a delegation from FAA made an inclusive visit to firm's different administrations in which it raised potentials that the company enjoys and how its employees are committed to safety and quality factors during executing maintenance works. The audit included all the company’s activities and related facilities in line maintenance, base maintenance, overhaul workshops and engine workshops. All activities and applicable procedures were also checked to evaluate their compliance with the applicable regulations and the personnel competency in respect to understanding the rules of regulations together with the company's procedures and the technical tasks they are assigned to perform. Egyptar Maintenance & Engineering is a leading MRO provider in the Middle East and Africa for Airbus, Boeing and Embraer types. It serves more than 125 airlines in Europe, Middle East and Africa with a high potential workforce to satisfy its increasing customers with total care maintenance solutions, pool support and CAMO services. More»
Sanaa Allam - 2016-08-11 11:42:35
Around 23.6% of Egyptian population are youth , i.e. 21.2 million people, aging between 18-29 years old, state's Central Agency for Public Mobilization and Statistics (CAPMAS) announced Thursday. In a press release issued Thursday on the occasion of the International Youth Day, CAPAMAS stated that the 23.6 percentage includes 51.1 percent male, 48.9 percent female. The press release issued among the framework of the world conference of the United Nations for world ministries responsible for youth for the involvement of young citizens as thy represents the effective force of the community for their energy the importance of investing their enthusiasm they are the hope of future and encourage constructing countries. It showed that the total number of students enrolled in higher education reached 2.3 million (54.4 percent male, 45.6 percent female), while the number of students enrolled in above-intermediate technical institutions (governmental/ private) was 117.179 (53.6 percent males, 46.4 percent females). According to labor force survey 2015 data, 49 percent of youth (68.6 percent males, 28.7 percent females) contribute in the labor force in the age group (18-29), the release pointed out. It stated that unemployment rate among youth in the age group (18-29) is 26.7 percent (22 percent males and 38.2 percent females). Meanwhile, unemployment rate among youth in the age group (18-29) hold a university or higher degree is 41.5 percent (34.4 percent males and 51.2 percent females), and reached 29.5 percent for those with a intermediate  technician certificate (23.9 percent males, 44.8 percent  females). More»