amwalalghad :: International News

Your English Portal To Arab Economy

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        Orascom Telecom Holding (OT)   3.92        Rakta Paper Manufacturing   4.39        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        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        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 - International News

Amwal Al Ghad English - 2015-03-11 07:49:08
Hillary Clinton, under attack for using a personal email address to conduct U.S. State Department business, defended the practice on Tuesday as a matter of "convenience," but her comments failed to calm critics, who accused her of secrecy. Holding her first news conference since leaving her administration post two years ago, Clinton conceded she wished she had used a government email address as secretary of state but said she violated no rules and did not send classified material through the private account. Clinton, the presumed front-runner for the 2016 Democratic presidential nomination, has come under fire for using an email server from her New York-area home and a personal account as the top U.S. diplomat. Critics raised concerns that the arrangement allowed her to hide important facts about her tenure and put her correspondence at a security risk. "I opted for convenience to use my personal email account, which was allowed by the State Department, because I thought it would be easier to carry just one device for my work and for my personal emails instead of two," a self-assured Clinton told more than 200 reporters crowded into a U.N. corridor. "Looking back, it would've been better if I'd simply used a second email account and carried a second phone." More»
Amwal Al Ghad English - 2015-03-10 08:53:51
Ivory Coast's former first lady, Simone Gbagbo, has been sentenced to 20 years in jail for her role in the violence that followed the 2010 elections. Gbagbo, 65, had been charged with undermining state security. More»
Amwal Al Ghad English - 2015-03-10 08:22:48
The U.S. ambassador to South Korea said on Tuesday he plans to maintain his open, approachable style despite being slashed by a knife-wielding Korean nationalist five days ago, causing him wounds that required 80 stitches in his face. Lippert had quickly become known for his informal demeanor since becoming ambassador in November but last week's attack raised questions about his security arrangements. "We have made it our mission to be open and friendly and that will not change," Lippert, 42, told a media conference amid heavy security after he was released from hospital. He declined to comment about potential changes to his security arrangements. Police are seeking to bring charges including attempted murder against Kim Ki-jong, 55, for the attack at a forum discussing Korean reunification. Kim was given a suspended jail sentence in 2010 for throwing a piece of concrete at the Japanese ambassador. He said after he attacked Lippert he was protesting against annual U.S.-South Korean military drills, which began last week. More»
Amwal Al Ghad English - 2015-03-10 08:18:45
Forty-seven Republican U.S. senators warned Iran's leaders on Monday that any nuclear deal with President Barack Obama could last only as long as he remains in office, an unusual partisan intervention in foreign policy that could undermine delicate international talks with Tehran. The open letter was signed by all but seven of the Republicans in the Senate and none of Obama's fellow Democrats, who called it a "stunt." Iranian Foreign Minister Javad Zarif dismissed it as a "propaganda ploy" from pressure groups he called afraid of diplomatic agreement. In the letter, the senators said Congress plays a role in ratifying international agreements. Noting Obama will leave office in January 2017, they said any deal not approved by Congress would be merely "an executive agreement" that could be revoked by Congress.The White House said the letter was a partisan effort to undermine Obama's foreign policy by lawmakers who oppose a deal even if the only alternative is military action. Obama said his focus now was on seeing if negotiators could get a deal or not, taking a jab at Senate Republicans for allying themselves with Iranian hardliners opposed to a deal. "I think it's somewhat ironic to see some members of Congress wanting to make common cause with the hardliners in Iran. It's an unusual coalition," Obama told reporters. A Western diplomat said the action was "without precedent." "It's 100 percent an American issue, but obviously it could become a real problem," the diplomat said. Iran's Zarif blasted the Republicans. "I wish to enlighten the authors that if the next administration revokes any agreement 'with the stroke of a pen' ... it will have simply committed a blatant violation of international law," he said in a statement. More»
Amwal Al Ghad English - 2015-03-10 07:52:54
The United States declared Venezuela a national security threat on Monday and ordered sanctions against seven officials from the oil-rich country in the worst bilateral diplomatic dispute since socialist President Nicolas Maduro took office in 2013. U.S. President Barack Obama signed and issued the executive order, which senior administration officials said did not target Venezuela's energy sector or broader economy. But the move stokes tensions between Washington and Caracas just as U.S. relations with Cuba, a longtime U.S. foe in Latin America and key ally to Venezuela, are set to be normalized. Venezuelan President Nicolas Maduro denounced the sanctions as an attempt to topple his government. At the end of a thundering two-hour speech, Maduro said he would seek decree powers to counter the "imperialist" threat, and appointed one of the sanctioned officials as the new interior minister. Declaring any country a threat to national security is the first step in starting a U.S. sanctions program. The same process has been followed with countries such as Iran and Syria, U.S. officials said. The White House said the order targeted people whose actions undermined democratic processes or institutions, had committed acts of violence or abuse of human rights, were involved in prohibiting or penalizing freedom of expression, or were government officials involved in public corruption. "Venezuelan officials past and present who violate the human rights of Venezuelan citizens and engage in acts of public corruption will not be welcome here, and we now have the tools to block their assets and their use of U.S. financial systems," White House spokesman Josh Earnest said in a statement. "We are deeply concerned by the Venezuelan government's efforts to escalate intimidation of its political opponents," he added. Venezuela called home its charge d'affaires in Washington for consultations, and Maduro accused Obama of a "colossal mistake" and "imperialist arrogance" similar to his predecessors Richard Nixon and George W. Bush. "President Barack Obama ... has personally decided to take on the task of defeating my government and intervening in Venezuela to control it," Maduro said in a televised address. In response, Maduro said he would on Tuesday ask the National Assembly, controlled by the ruling Socialists, to grant him decree powers - for the second time in his nearly two-year rule through a so-called Enabling Law, which critics blast as a power grab. Maduro also paraded the seven officials, hailing them as "heroes" and naming national intelligence head Gustavo Gonzalez, whom Washington accuses of complicity in violence against protesters, as new interior minister. DENIED ENTRY The two countries have not had full diplomatic representation since 2008, when late socialist leader Hugo Chavez expelled then-U.S. Ambassador Patrick Duddy. Washington responded by expelling Venezuelan envoy Bernardo Alvarez. The list of sanctioned individuals includes: Gonzalez, the head of state intelligence service Sebin; Manuel Perez, director of the national police; and Justo Noguero, a former National Guard commander who runs state mining firm CVG. It also includes three other military officers and a state prosecutor. The individuals' would have their property and interests in the United States blocked or frozen and would be denied entry into the United States. U.S. citizens and permanent residents would be prohibited from doing business with them. The White House also called on Venezuela to release all political prisoners. "We've seen many times that the Venezuelan government tries to distract from its own actions by blaming the United States or other members of the international community for events inside Venezuela," Earnest said in the statement. U.S. officials told reporters in a conference call that the executive order did not target the Venezuelan people or economy and stressed that upcoming legislative elections should be held without intimidation of government opponents. The sanctions effectively confirm Venezuela as the United States' primary adversary in Latin America, a label that was for decades applied to Communist-run Cuba until Washington and Havana announced a diplomatic breakthrough in December. Washington said last week it would respond through diplomatic channels to Venezuela's demand for it to cut the U.S. Embassy's staff in Caracas after the government called for a plan within 15 days to reduce staff to 17 from 100 at the American facility. Commercial ties between Venezuela and the United States have largely been unaffected by diplomatic flare-ups, which were common during Chavez's 14-year-rule. The United States is Venezuela's top trading partner, and the OPEC member in 2014 remained the fourth-largest supplier of crude to the United States at an average of 733,000 barrels per day - despite a decade-long effort by Caracas to diversify its oil shipments to China and India. Opposition leader and twice-presidential candidate Henrique Capriles told Reuters the sanctions were a problem for a corrupt elite in the Maduro government, but not ordinary Venezuelans. More»
Amwal Al Ghad English - 2015-03-09 08:14:24
The Ministry of Tourism is targeting investments worth EGP 10bn by launching five tourism projects in different areas in the Red Sea. The projects announced will be in the hotel, entertainment and service sectors, according to an official in the ministry. The official said that the number of hotel rooms in the five projects exceeds 3,000, in addition to entertainment and commercial projects that aim to increase Egypt’s tourism expenditure. Annual hotel capacity increased to 2,000 rooms over the past two years, compared to 1,000 rooms throughout 2011 and 2012, according to the official. The Tourism Ministry announced that it intends to propose five projects to tourist developers in the Economic Summit in Sharm El-Sheikh at the end of this week. The ministry is counting on attracting more tourist investments in light of the income recovery over the last year, which increased by $1.6bn compared to the year before. Tourism income during 2014 reached $7.5bn, according to the Tourism Ministry. The methods for raising land values vary, and include usufruct and direct allocation in accordance with a recent ministerial decision to vary methods, according to the official. He added that although the past four years were difficult for Egypt, the tourism sector is still working and able to face difficulties, asserting that the sector’s ability to cope with these crises emphasises its ability to recover. The official believes that tourism investments in Egypt are profitable compared to other competing sectors, where investors’ profit rate exceeds 20% annually. He said that tourism investment during the past four years was supported by the state with great incentives, most importantly the postponement of tourism companies’ dues more than four times. Most recently, the government extended the repayment period to mid-2015. More»
Amwal Al Ghad English - 2015-03-09 08:02:31
Japan's economy grew much less than initially thought in the fourth quarter as capital expenditure declined in a worrying sign that a rebound in consumer spending is not encouraging business investment. The revised fourth quarter data joins a mixed batch of indicators over recent months that underscore a fragile recovery from a recession, which analysts say could pressure the Bank of Japan to inject fresh stimulus later this year to meet its inflation goal and beat back years of falling prices. The economy grew an annualized 1.5 percent in October-December, Cabinet Office data showed Monday, down from a preliminary reading of an annualized 2.2 percent expansion and below the median estimate for 2.2 percent growth. Consumer spending in the fourth quarter was revised up, showing some parts of the economy are improving. However, weak capital expenditure suggests Tokyo's policy mix of fiscal and monetary expansion and structural reforms have so far failed to generate a virtuous cycle of higher consumption driving corporate earnings, wages growth and business investment. "One reason for the disappointing capex is the shift in production overseas that has been happening for the past few years," said Norio Miyagawa, senior economist at Mizuho Securities. "I still expect the economy to continue to grow, but the virtuous economic cycle that policymakers have been talking about really hasn't fallen into place yet." In response to worries about the pace of economic growth and in an indication of the BOJ's readiness to defend its inflation target, deputy governor Hiroshi Nakaso said on Monday that further monetary easing is likely if oil price falls hamper its efforts to ramp up inflation expectations. On a quarter-on-quarter basis, the economy grew 0.4 percent in the fourth quarter, compared with a preliminary reading of 0.6 percent increase and expectations of 0.6 percent. Fourth quarter GDP growth was mainly undermined by weak business investment and inventories. Capital expenditure fell 0.1 percent from the previous quarter, less than a preliminary 0.1 percent increase and less than the median estimate for a 0.3 percent expansion. The immediate outlook for capex may not look rosy either, as a Reuters poll forecast machinery orders to have fallen 4.1 percent in January from the previous month, after having risen 8.3 percent in December, the fastest pace in six months. Consumer spending, which is crucial to achieving policymakers' aim of spurring sustainable economic growth, rose 0.5 percent, more than a preliminary 0.3 percent increase. Other data this year on consumer spending has been less convincing, and there are lingering doubts whether the BOJ can achieve 2 percent inflation sometime around next fiscal year starting from April. Economic growth is expected to accelerate in the current quarter to a 2.4 percent annualized expansion, according to a Reuters poll, but some economists have doubts whether this pace can be sustained. More»
Amwal Al Ghad English - 2015-03-09 08:09:37
German Chancellor Angela Merkel, referring to Germany's own experience, reminded Japan on Monday of the need to squarely confront its wartime past but also signaled that neighboring countries must do their part to achieve reconciliation. The polite reminder comes as Prime Minister Shinzo Abe is preparing to issue a statement to mark the 70th anniversary of Japan's defeat in World War Two, the legacy of which still plagues Tokyo's ties with China and South Korea. The statement will be closely watched by Beijing and Seoul, which suffered under Japanese militarism, as well as Tokyo's close ally, Washington. Abe has said he intends to express remorse over the war and that his cabinet upholds past apologies, including the landmark 1995 statement by then-premier Tomiichi Murayama. But it is unclear whether Abe will repeat the "heartfelt apology" and reference to "colonial rule and aggression" in that statement. More»
Amwal Al Ghad English - 2015-03-09 08:02:14
Israeli Prime Minister Benjamin Netanyahu's office denied reports on Sunday he has backed away from a 2009 commitment to seek a two-state peaceful solution with the Palestinians. A statement by Netanyahu's right-wing Likud party widely reported by Israeli media said he had said that a speech he gave six years ago agreeing for the first time to Palestinian statehood as a solution to decades of conflict was now "irrelevant." Netanyahu "never said such a thing," his office said in a statement responding to the reports. Likud had apparently issued the remarks to debunk earlier Israeli media reports suggesting Netanyahu had in a previous term of office negotiated a broad withdrawal from land Israel captured in a 1967 war. The party's statement, apparently issued by hardliners, said Netanyahu had also suggested "there would be no withdrawals or concessions, that this is simply irrelevant," referring to swapping any occupied land for peace. More»
Amwal Al Ghad English - 2015-03-09 07:55:45
The reform outline sent by Greece to euro zone ministers to unblock loans is "helpful", but needs to be scrutinized by representatives of the country's creditors, according to the head of the Eurogroup of euro zone finance ministers. Jeroen Dijsselbloem, whose group meets on Monday to discuss Greece, was responding to a letter he received on Friday from the new left-wing government in Athens asking for an immediate resumption of talks with creditors. It also described seven reforms it wants to launch to achieve goals agreed to by the previous government. Once steps to reach these goals are taken, Greece would become eligible for more credit from the euro zone and the International Monetary Fund, and its banks could again finance themselves at European Central Bank open market operations. But time is pressing because Greece will run out of cash later this month. "This document will be helpful in the process of specifying the first list of reform measures," Dijsselbloem said in a written reply to the Greek letter ahead of Monday's meeting. Greece's main creditors are euro zone governments and the IMF. They are represented in talks with Athens by three institutions dubbed the troika - the European Commission, the ECB and the IMF. More»