amwalalghad :: MENA News

Your English Portal To Arab Economy

Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        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        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        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        Cairo Poultry   8.32        ARAB POLVARA SPINNING & WEAVIN   2.11        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 - MENA News

Amwal Al Ghad English - 2016-08-29 09:55:41
A suicide bomber killed late Sunday at least 15 people at a wedding party near the southern Shi'ite city of Kerbala, an Iraqi police statement said on Monday. More»
Amwal Al Ghad English - 2016-08-29 09:52:52
Turkey's army and its allies thrust deeper into Syria Sunday, seizing territory controlled by Kurdish-aligned forces on the fifth day of a cross-border campaign that a monitoring group said had killed at least 35 villagers. Turkish warplanes roared into northern Syria at daybreak and artillery pounded what security sources said were sites held by the Kurdish YPG militia, after the Syrian Observatory for Human Rights reported fierce overnight fighting around two villages. Turkey said 25 Kurdish militants were killed in its air strikes and denied there were civilian casualties. There was no immediate comment from the YPG, but forces aligned with the group have said it had withdrawn from the area prior to the assault. Turkey, which is also battling Kurdish insurgents at home, sent tanks and troops into Syria on Wednesday to support its Syrian rebel allies. The Turkish-backed forces first seized the Syrian border town of Jarablus from Islamic State militants before pushing south into areas held by Kurdish-aligned militias. They have also moved west towards Islamic State areas. Turkish officials say their goal in Syria is as much about ensuring Kurdish forces do not expand the territory they already control along Turkey's border as it is about driving Islamic State from its strongholds. However, the Turkish offensive has so far focused on forces allied to the Kurdish-backed Syrian Democratic Forces (SDF), a coalition that includes the YPG, an Observatory source said. The SDF has support from the United States -- which sees the group as an effective Syrian ally against Islamic State, putting Turkey at odds with a fellow NATO member and further complicating Syria's five-year-old civil war. The conflict began as an uprising against Syrian President Bashar al-Assad and has since drawn in regional states and world powers. CIVILIANS KILLED, SCORES WOUNDED The Observatory, a Britain-based monitoring group with a network of sources in Syria, said Turkish-allied forces had seized at least two villages south of Jarablus, Jub al-Kousa and al-Amarna, that were held by militias loyal to the SDF. The fighting killed 20 civilians in Jub al-Kousa and 15 in al-Amarna, while scores more were wounded, the group said. Turkish-backed rebels said they had seized a string of villages south of Jarablus controlled by SDF-aligned forces and had moved west to take several villages held by Islamic State. Turkish security sources said warplanes and artillery had hit YPG sites south of Jarablus and towards Manbij, a city captured by the SDF this month in a U.S.-backed operation. Colonel Ahmed Osman, head of the Turkish-aligned Sultan Murad rebel group, told Reuters the force was "certainly heading in the direction of Manbij" and hoped to take it. Ankara wants to stop Kurdish forces gaining control of an unbroken swathe of Syrian territory on Turkey's frontier, which it fears could embolden the Kurdish PKK militant group that has waged a three-decade insurgency in Turkey. A Reuters witness in Karkamis, a Turkish border town, heard jets and artillery strike within Syria. A Turkish official told Reuters heavier air strikes could come in the hours ahead. Turkey said one of its soldiers was killed on Saturday when a rocket that it said came from a YPG-controlled area hit a tank. It was the first Turkish death reported in the campaign. Turkey has suffered shock waves from the conflict raging in its southern neighbor, including bombings by Islamic State. The government suspects the jihadist group was behind a blast at a wedding this month that killed 54 people in southeastern Turkey. President Tayyip Erdogan struck a defiant note during a visit to the site of the wedding attack. "Our operations against terrorist organizations will continue until the end," he told a rally of thousands of supporters on Sunday. More»
Amwal Al Ghad English - 2016-08-29 09:42:36
Iraq's government would consider selling crude through Iran should talks with the autonomous Kurdish region on an oil revenue-sharing agreement fail, a senior oil ministry official in Baghdad has told Reuters on Monday. Iraq's State Oil Marketing Organisation (SOMO) plans to hold talks with the Kurdish Regional Government (KRG), possibly next week, about Iraqi oil exported through Turkey, Deputy Oil Minister Fayadh al-Nema said in an interview on Friday evening. "If the negotiations come to a close" without an agreement "we will start to find a way in order to sell our oil because we need money, either to Iran or other countries", he said by telephone. Iraq, OPEC's second-largest producer after Saudi Arabia, depends on oil sales for 95 percent of its public income. Its economy is reeling under the double impact of low oil prices and the war against Islamic State militants. The Kurdistan region produces around 500,000 barrels per day (bpd) on its territory and exports those volumes via Turkey. Baghdad would not be able to reroute those volumes to Iran but could order shipments of some 150,000 bpd via Iran that are being produced in the nearby province of Kirkuk. An agreement between Iran and Iraq could function in a similar fashion as oil-swap deals Tehran has had with Caspian Sea nations, according to an oil official who asked not to be identified. Iran would import Iraqi oil to its refineries and export an equivalent amount of its own crude on behalf of Baghdad from Iranian ports on the Gulf. Iraq has ports on the Gulf but they are not linked to the northern Kirkuk fields by pipeline. Iraq's state-run North Oil Company resumed pumping crude through the Kurdish-controlled pipeline to Turkey last week as "a sign of goodwill to invite them (the Kurds) to start negotiations," Nema said. He said pumping had resumed on the instruction of Prime Minister Haider al-Abadi following "some understanding" between Baghdad and Erbil. Abadi said on Tuesday the decision had been made to avoid damage to reservoirs. The flow of crude extracted from Kirkuk by North Oil and pumped in the pipeline has been running at about 75,000 bpd since last week, or half the rate before it was halted in March, Nema said. Should there be an agreement with the Kurds, flow through the pipeline would be increased to more than 100,000 bpd, not to the previous level of 150,000 bpd, he added. Nema said about 20,000 bpd would be supplied to the refinery of Suleimaniya, in the Kurdish region, and 30,000 bpd would be refined locally in Kirkuk. The pipeline carries crude to the Mediterranean port of Ceyhan, where the Kurds have been selling it independently on the international market, along with oil produced in their northern region. The Kurdish government has been calling on Baghdad since March to resume the pumping of Kirkuk crude in full to help Erbil fund its war against Islamic State. Sources in Erbil have said splitting the Kirkuk flows would divide the Kurds and complicate the task of fighting the ultra-hardline militants. A KRG spokesman in June told Reuters the Kurds are ready to strike an agreement with Baghdad if it guarantees them monthly revenue of $1 billion, more than double what they make currently from selling their own oil. The dispute revolves around Kurdish oil exports that Baghdad wants to bring under its control. "If Baghdad comes and says 'OK, give me all the oil that you have and I'll give you the 17 percent as per the budget', which equals to 1 billion, I think, logically it should be the thing to accept," KRG spokesman Safeen Dizayee said in June. "Whether this oil goes to the international market or first to Baghdad and then to the market, it doesn't make any difference," he added. "We are ready to enter dialogue with Baghdad." The Kurdish government stopped delivering crude oil to the central government about a year ago, a decision taken when Baghdad's payment fell under $400 million a month, Dizayee said. It is also in a dispute with the central government over Kirkuk, where North Oil produces its crude and which the Kurds claim as part of their territory. The Kurds took control of the region two years ago, after the Iraqi army disintegrated when Islamic State overran a third of the country. More»
Amwal Al Ghad English - 2016-08-29 09:26:26
Islamic State claimed responsibility for a suicide bombing at a local militia compound in the southern Yemeni city of Aden on Monday, and said the attack killed about 60 new recruits, according to the group's Amaq news agency. More»
Amwal Al Ghad English - 2016-08-29 09:14:34
A suicide bomber killed at least 45 people when he drove a car laden with explosives into a compound run by local militias in Aden on Monday, Medecins Sans Frontieres said, in one of the deadliest attacks in the southern Yemeni port city. The official said at least 60 other people were brought into a nearby hospital run by the medical charity in Aden's Mansoura district. No one claimed responsibility for the attack, but it resembled previous suicide bombings which Islamic State said it carried out in the city. A security source said the attack targeted a school compound where conscripts of the Popular Committees, forces allied to the internationally recognized President Abd-Rabbu Mansour Hadi, were gathered for breakfast. The blast rocked the area and sent debris flying, sending residents fleeing, one witness said. Islamist militants have exploited an 18-month-old civil war between the Houthis and Hadi's supporters and launched a series of attacks targeting senior officials, religious figures, security forces and compounds of the Saudi-led Arab military coalition which supports Hadi. More»
Amwal Al Ghad English - 2016-08-21 09:39:37
Abdulah Al Sanousi enjoys the breeze in the lush resort outside Sarajevo where his family bought a flat to escape the summer heat at home in Kuwait, one of thousands of new Arab Gulf buyers whose investment has polarised local opinion. They discovered mountainous Bosnia, where half the population is Muslim, after the Arab Spring which destabilized many traditional holiday destinations such as Libya, Tunisia and Egypt. The trend has picked up with more direct flights, new resorts and the end of visa restrictions. Estate agents and local businesses have welcomed the economic boost. But in a secular country where many Muslims drink alcohol and wear European-style clothing, the arrival of a Saudi-built mall where no alcohol is sold and the sight of burqas and traditional Arab robes is worrying for some. "People from the Middle East come here because of the nature and good weather, and very cheap prices for property and other goods," said 28-year old Sanousi, who works in the media industry in Kuwait. "Many Muslims feel it's a good place for them, they feel they are with their people, they feel comfortable here," he said in the gated resort that is inhabited mostly by Gulf visitors. It was built by a Kuwaiti investor and opened last year. The number of visitors from the United Arab Emirates surged to 13,000 in the first seven months of this year from 7,265 last year, according to hotel data from the Sarajevo tourist board. In 2010, there were only 65 visitors from the UAE. Bosnia does not have a national tourism authority and data on land purchases is patchy in the Balkan country which has a fragmented government system. Unofficial estimates put the total number of Arab tourists at between 50,000-60,000 a year, with about a quarter buying property. The visitors bring much needed cast to the economy which has not recovered from the 1990s war. But many local Muslims, who pray only at mosques or at home, were shocked when a group of Arab men dressed in traditional robes prayed outdoors at a popular weekend resort near Sarajevo last year. Others have been upset by a Saudi-funded mall that serves no alcohol or pork. "I'm not glad that they are coming," said Amina, a Muslim pharmacist from Sarajevo in her 50s. "I'm worried about what influence they can have on our children if they stayed here." DELICATE BALANCE Many Bosnians remember the Arab fighters who came during the 1992-1995 war to fight with Bosnian Muslims against Serbs and Croats, bringing with them a stricter form of Islam which drew followers, some of whom fought in Syria and Iraq for Islamic State. At the end of the war, some restaurants and cafes in the Ottoman-era old town of the capital stopped serving alcohol and pork and residents say they have now disappeared from the menu in other cafes which have started to do the same. Esad Durakovic, a professor of Arabic studies at the University of Sarajevo, wrote in an editorial for the Depo news portal last week property purchases by Gulf visitors could hurt a delicate religious balance in Bosnia. "This is not about tourists who come and go but about those who permanently stay on their property," he said, saying that it could fuel a desire for secession among some Bosnian Serbs. "They will not want to live in "Muslimstan." Travel and real estate agents dismiss those concerns, saying the country should welcome the money to help get the economy back on track and that the visitors only come in the summer to escape the heat at home. "I'm really wondering why so many people are questioning (Arab investments) rather than getting profit out of it... I find it really sad," said Abdelal Mustafa, general manager of Saudi-based HR Holidays travel agency. They want the state to improve legislation to encourage more visitors and investors in Bosnia. "The legalization blocks a lot of money," said Tariq Burjaq, executive director of the Kuwaiti Rawasi Real estate company, which is building a 25 million euro worth residential complex at the foot of Igman mountain, near Sarajevo, with 246 housing units. Mirsada Gostevcic who was selling honey and blackberry and raspberry juice near the Sarajevo Resort where Sanousi's family has a property, does not see what all the fuss is about. "I don't mind that Arabs are coming, I don't know why people are bothered with that. This is a country where life is difficult, and we are looking forward to earning more money," Gostevicic said as visitors from the Gulf strolled along improvised shop-stands where local farmers sold their produce. More»
Amwal Al Ghad English - 2016-08-21 08:37:34
Fighting between the Syrian army and Kurdish forces intensified late on Friday and into Saturday, creating the risk of yet another front opening in the multi-sided civil war. The two sides have mostly avoided confrontation during the five-year conflict, with the government focusing its efforts against Sunni Arab rebels in the west, and the Kurds mainly fighting the Islamic State Group in northern Syria. In an indication of their reluctance to escalate further, pro-government media said on Saturday they had held preliminary peace talks. After the fighting broke out this week, government warplanes bombed Kurdish-held areas of Hasaka, one of two cities in the largely Kurdish-held northeast where the government has maintained enclaves. More»
Amwal Al Ghad English - 2016-08-20 14:05:05
Syrian government warplanes were again in the air over the mainly Kurdish-held city of Hasakeh early Saturday despite a US warning against any new strikes that might endanger its military advisers, a monitor said. It was not immediately clear whether the aircraft, which were in the skies throughout the night, had carried out any bombing runs as there were heavy artillery exchanges on the ground, the Syrian Observatory for Human Rights said. Deadly clashes erupted between pro-government militia and the US-backed Kurdish forces on Wednesday. The following day, the regime launched its first ever air strikes against the Kurds. The unprecedented strikes against six Kurdish positions in the northeastern city prompted the US-led coalition to scramble aircraft to protect US special operations forces advisers deployed with the Kurdish forces. It was the first time the coalition had confirmed deploying warplanes against the Syrian air force. Pentagon spokesman Captain Jeff Davis warned that "the Syrian regime would be well-advised not to do things that place them (coalition forces) at risk." The Observatory said there was no let-up in the fighting on the ground which has left 39 people dead since Wednesday, 23 of them civilians, including nine children. "There were heavy clashes, artillery fire and rocket attacks throughout the night and ongoing in the morning," Observatory head Rami Abdel Rahman told AFP. More»
Amwal Al Ghad English - 2016-08-18 09:56:09
The French government held a special security meeting Wednesday to discuss increasing protection measures at schools after a series of deadly extremist attacks in the country. The meeting, led by President Francois Hollande, was designed to adapt security measures to the new school year starting in September. The extremist threat is still at a "very high level," Defense Minister Jean-Yves Le Drian said. As summer winds down, the number of military troops protecting sensitive sites will be decreased in the French regions and increased in Paris, Le Drian said. Interior Minister Bernard Cazeneuve said he will announce specific measures to protect schools next week in coordination with Education Minister Najat Vallaud-Belkacem. More»
Amwal Al Ghad English - 2016-08-18 09:25:14
Turkey on Wednesday began freeing the first of some 38,000 prisoners not linked to the failed coup who are to be released in a move aimed at relieving pressure on prisons overcrowded with putsch suspects. The parole decision came as Turkey presses on with the biggest purge in its modern history after the July 15 bid by rogue elements in the military to oust President Recep Tayyip Erdogan from power. Justice Minister Bekir Bozdag said the release was "not an amnesty" but the measure could eventually apply to almost half of the Turkish prison population which has swelled to over 200,000 since the attempted coup. It will not apply to convicts guilty of murder, terrorism or state security crimes, or the thousands detained after the putsch. "The regulation refers to crimes committed before July 1, 2016. The crimes committed after July 1, 2016 are outside its scope," Bozdag said on Twitter. "As a result of this regulation, approximately 38,000 people will be released from closed and open prisons at the first stage." According to Turkish officials, over 35,000 people have been detained since the coup attempt although almost 11,600 of them have since been released. The state-run Anadolu Agency said the first convicts began to be released from Istanbul's Silviri prison hours after the announcement. One of the freed prisoners Turgay Aydin, was quoted as thanking Erdogan and saying: "I am very happy because I am released from prison. I was not expecting it." Bozdag said in an interview with A-Haber television that the parole could in the end apply to 99,000 out of Turkey's current total prison population of 214,000. According to Anadolu, the total capacity of Turkey's prisons is for 187,351 people. Hurriyet columnist Akif Beki wrote on August 11 that "prisons are jam-packed" amid the post-coup purge and asked: "How can that many be arrested without making any space?" Turkey is in the throes of a three-month state of emergency imposed after the coup, which the authorities describe as an attempt by the US-based preacher Fethullah Gulen to overthrow the existing order. More»