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 - 2015-06-22 08:34:35
Egypt has earmarked 61 billion Egyptian pounds ($8 billion) for fuel product subsidies in the draft 2015/2016 budget, Tarek El Molla, chairman of state-run Egyptian General Petroleum Corp (EGPC), said in a statement on Saturday. The cabinet on Thursday approved a draft of the budget for the next fiscal year starting July 1, but did not announce the amount allocated to fuel products subsidies. The government is trying to reform the decades-old system of subsidies without angering Egypt's rapidly growing population, now at 87 million. Fuel subsidies have long weighed on the state budget and contributed to the economic stagnation that President Abdel Fattah El Sisi promised to tackle when he took office last year. More»
Amwal Al Ghad English - 2015-06-22 08:25:57
Egypt's Minister of Parliamentary Affairs and Transitional Justice Ibrahim Al-Heneidy disclosed Sunday that the justice ministry has finalised drafting a new law aimed at cracking down on terrorist crimes. "The new 52-article anti-terrorism law is primarily aimed at stemming the tide of funding terrorist activities and organisations and giving new definitions for terrorist crimes," said Heneidy in a press conference. Heneidy argued that Egypt is facing a ferocious war against terrorism. "In the coming stage, we focus on drying up sources of funding for terrorist activities and as a result there is a pressing need to issue a new anti-terror law aimed at meeting this objective," said Heneidy. Heneidy said the new draft anti-terror law will be first reviewed by the ministries of interior and defence. "They will have to give their remarks on the draft law within 15 days, after which it will be referred back to the justice ministry to be redrafted," said Heneidy. Heneidy explained that, "The draft law will impose the death penalty on anyone found guilty of funding a terrorist organisation." "Those convicted of funding a terrorist will be sent to life in prison, but those convicted of funding a terrorist-labeled organisation will face the death penalty," said Heneidy. More»
Amwal Al Ghad English - 2015-06-22 08:25:32
Egypt spent LE24.623 billion on electricity subsidies in FY2014/15, down from an initial projection of LE27.2 billion, the ministry of finance announced on Sunday. The spending included LE22 billion and LE2.5 billion for supplying oil products and importing gas shipments to electricity companies, respectively. A draft of the budget for the upcoming fiscal year starting 1 July was approved by the cabinet on Thursday, awaiting the president's ratification. Since President Abdel-Fattah El-Sisi took office last year, Egypt has gradually cut energy subsidies hoping to cut the budget deficit from 12.6 percent of GDP in 2013/14 to 8-9 percent by FY 2018/19, through a medium-term economic plan. The current fiscal year saw the implementation of the first stage of a five-year plan to lower electricity subsidies by 67 percent to LE9 billion. More»
Amwal Al Ghad English - 2015-06-22 08:14:23
Egypt on Sunday appointed a new ambassador to Israel to fill a post that had been vacant since ousted Islamist president Mohamed Morsi recalled the previous envoy in 2012. State news agency MENA said that Hazem Khairat, a former ambassador to Chile, was appointed by President Abdel Fattah El-Sisi. It did not say when he will take up his post. Khairat's appointment was immediately "deeply" welcomed by Israeli Prime Minister Benjamin Netanyahu. "We've been informed by the government of Egypt that it is dispatching an ambassador to Israel. This is an important piece of news, we appreciate it," Netanyahu said in Jerusalem. More»
Amwal Al Ghad English - 2015-06-21 14:31:53
Egypt's Industrial Production Index (without crude oil and petroleum products) decreased 13.8 percent in April 2015, compared to March 2015, the Central Agency for Public Mobilization and Statistics (CAPMAS) reported on Sunday. Meanwhile, the total index for the manufacture of fabricated metal products, except for machinery and equipment, reached 90.98 in April 2015, compared to 117.09 in March 2015, a decrease of 22.3 percent, due to a change in the production line for one of the bigger companies, CAPMAS said. More»
Amwal Al Ghad English - 2015-06-21 14:26:40
A high-profile Al Jazeera journalist arrested in Germany at the request of Egypt said he expected to soon face a judge who would decide whether or not to extradite him, in a case likely to raise fresh questions about Cairo's crackdown on dissent. Ahmed Mansour, a leading talk show host on the channel's Arabic service, was arrested in Germany on Saturday. His is the latest in a string of such cases brought by the Egyptian authorities against Al Jazeera journalists. Egypt accuses Al Jazeera of being a mouthpiece of the Muslim Brotherhood, the Qatar-backed Islamist movement which President Abdel Fattah al-Sisi toppled in 2013 when he was army chief and accuses of being a terrorist group. ADVERTISING Both the television channel and the Brotherhood reject the allegations made by Egyptian authorities. Mansour told Al Jazeera by telephone: "The German authorities told me that we are dealing with an international criminal case" and a judge would decide whether he should be extradited to Egypt. Cairo's criminal court sentenced Mansour, who has dual Egyptian and British citizenship, to 15 years in prison in absentia last year on the charge of torturing a lawyer in 2011 in Tahrir Square, the focus of the popular uprising that toppled veteran leader Hosni Mubarak. Jazeera said at the time the charge was false and an attempt to silence Mansour, known to viewers across the Arab world. Saad Djebbar, a lawyer for Al Jazeera, said Mansour was arrested unexpectedly on Saturday as he tried to board a Qatar Airways flight to Doha. "This is a very serious development," Djebbar said. "We knew that the Egyptians were going to set such a trap to harass our journalists and that is what has happened." A spokesman for the German Federal Police said a 52-year-old man was arrested at Berlin's Tegel airport following an international arrest warrant from the Egyptian authorities. Egyptian Foreign Ministry spokesman Badr Abdelatty said Egypt was coordinating with the German authorities. "He is accused of a crime and was sentenced so of course we have called for him to be returned," he said. BLIND EYE Critics accuse the west of turning a blind eye towards what they say is Egypt's crackdown on dissent and freedom of speech in favor of improved economic ties and regional security cooperation. Sisi toppled Islamist Mohamed Mursi, Egypt's first freely-elected president, in 2013 after mass protests against his rule. Sisi visited Germany earlier in June at Chancellor Angela Merkel's invitation. The head of Germany's parliament canceled a meeting with him, citing rights violations in Egypt. During Sisi's visit, German industrial company Siemens signed an 8-billion-euro deal ($9 billion) with Egypt to supply gas and wind power plants to boost the country's electricity generation by 50 percent. On Sunday, deputy head of the Left Party in Germany’s parliament Wolfgang Gehrcke told the Koelner Stadt-Anzeiger newspaper: "Everyone knows that the rule of law in Egypt is built on sand – if you can even speak of a rule of law. Of course we can’t extradite him. In countries where there is the death penalty, there should be no extraditions in general." The Cairo government denies allegations of widespread human rights abuses. More»
Amwal Al Ghad English - 2015-06-21 14:02:30
A document published by the WikiLeaks website said Saturday evening Islamic preacher and founder of Sonaa al-Hayat (Life Makers) in Egypt, Amr Khaled, requested financial support for his program from Saudi Arabia. The document stated the work of the institution in the field of literacy in Egypt, as well as teaching 120,000 people reading and writing with the support of Vodafone UK. More»
Amwal Al Ghad English - 2015-06-21 13:58:08
Cairo Criminal Court resumes Sunday the trial of former Islamist president Mohamed Morsi and ten others for allegedly leaking classified documents to Qatar. Morsi has appeared in Sunday's session wearing a red uniform after Cairo Criminal Court Tuesday sentenced him to death over a prison break in 2011. Morsi and five others were sentenced to death on charges of damaging and setting fire to prison buildings, murder, attempted murder, looting prison weapons depots and releasing prisoners while escaping from the prison outside Cairo during the January 2011 uprising. More»
Amwal Al Ghad English - 2015-06-21 09:42:04
Two ferries crossed the recently completed New Suez Canal in Egypt Thursday, making them the first vessels to navigate from the east bank of the canal to the west, Egypt Independent news website reported. Egypt's New Suez Canal will open on Aug. 6, its overseer announced last week. "The digging and dredging works will conclude on July 15. The opening of the New Suez Canal will be on Aug. 6, according to the orders of the Egyptian people and the Egyptian president," Mohab Mameesh, chairman and managing director of the Suez Canal Authority, told a news conference in Ismailia. President Abdel Fattah al-Sisi sees the project as a potent symbol of national pride and a major chance to stimulate an economy suffering double-digit unemployment “It is a historic day for Egypt under the leadership of President Abdel Fattah al-Sisi,” Ahmed Saeed, a worker at the New Suez Canal project, said. The army began work 10 months ago on the $8 billion canal, flanking the existing, historic 145-year-old waterway and part of a larger undertaking to expand trade along the fastest shipping route between Europe and Asia. The Suez Canal is a vital source of hard currency for Egypt, particularly since the 2011 uprising that scared off tourists and foreign investment. More»
Amwal Al Ghad English - 2015-06-21 08:47:25
Egyptian Foreign Minister Sameh Shoukry said Saturday he is worried over the peace process concerning the Palestinian cause, saying it requires more international coordination and cooperation. Shourky, who appeared in a press conference with Laurent Fabius, his French counterpart who was in Cairo as part of a regional trip that includes Israel, says the Arab Peace Initiative is still regionally supported. Fabius arrived in Cairo Saturday and discussed with President Abdel-Fattah El-Sisi the possible re-awakening of Palestinian-Israeli peace talks. Negotiations via a phone call are expected to be held this evening between the French minister and the Arab Ministerial Committee to follow up on moves to end the Israeli occupation of Palestinian territories. Before meeting El-Sisi, Fabius met with Shoukry, and discussed bilateral relations and ways of enhancing them in various fields, including the political, economic, trade, investment and security files, spokesperson to the Egyptian FM Badr Abdel-Ati said in the statement. More»