Daily News Egypt https://dailynewsegypt.com Egypt’s Only Daily Independent Newspaper In English Wed, 23 Aug 2017 20:45:22 +0000 en-US hourly 1 Medical supplies exports fell by $6m https://dailynewsegypt.com/2017/08/23/medical-supplies-exports-fell-6m/ https://dailynewsegypt.com/2017/08/23/medical-supplies-exports-fell-6m/#respond Wed, 23 Aug 2017 20:45:22 +0000 https://dailynewsegypt.com/?p=634670 Pharmaplast maintains top rank, Hidelina in second, Fine in third

The post Medical supplies exports fell by $6m appeared first on Daily News Egypt.

]]>
Exports of medical supplies declined by $6m during the first six months of the current year, recording exports worth $41.9m, down from $48m in the same period last year, a decline of 14.5%.

Pharmaplast topped the list of exporters in the six-month period with exports of $19.7m.

Hidelina Company For Advanced Medical Industries came in second rank with export volume of $8.9m, followed by Fine in third with $2.6m.

Ultra came in fourth place with exports of $1.6m, followed by Ameco Medical Industries in fifth place with export value of $1.4m.

Sanita consumer products maintained its sixth place ranking with exports of about $1m, while Afri Medical followed in seventh place with exports worth $731,000.

The Egyptian Swiss Company for Specialized Industries marked exports of $651,000, while Medica Middle East came in ninth place with $370,000. In the last ranking came EgiFix Medical with $337,000.

Hisham al-Fati, a member of the Export Council of Medical Industries, head of the medical supplies division of the Federation of Egyptian Industries, attributed the drop in exports during the first half of this year to higher production costs due to the hiking of fuel prices.

He explained that the economic decisions surged costs by 3%, which had a negative impact on exports of the sector, lowering it by 7%.

He added that the export file is very sensitive to any sudden changes and that higher production costs and increased product prices have reduced the competitiveness of Egyptian products in foreign markets, especially for Chinese products, which he described as difficult to compete.

He pointed out that the programme of export refunds subsidy is disbursed very late, where the funds reach exporters after 8-12 months from the export date.

He added that there are other reasons for the decline in exports, including the demand on Egyptian products abroad, which vary throughout the year.

He pointed out that the council aims to expand exporters in the African markets, expecting them to grow by 10% by the end of the year.

The post Medical supplies exports fell by $6m appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2017/08/23/medical-supplies-exports-fell-6m/feed/ 0
Cosmetics exports down by 30% https://dailynewsegypt.com/2017/08/23/cosmetics-exports-30/ https://dailynewsegypt.com/2017/08/23/cosmetics-exports-30/#respond Wed, 23 Aug 2017 20:20:56 +0000 https://dailynewsegypt.com/?p=634668 L’Oreal Egypt tops the list with exports of $19.4m, Mashreq ranks second with $18m

The post Cosmetics exports down by 30% appeared first on Daily News Egypt.

]]>
Egyptian cosmetic exports fell 30% in the first half of the current year, recording $69m, down from $98m in the same period last year.

The report of the Export Council of Medical Industries indicated that L’Oreal Cosmetics Egypt topped the list of the top exporters in the first half of this year, with $194m, followed by Mashreq with $18.1m.

Unilever Egypt came third with exports of $8.1m, while Evyap Egypt ranked fourth with $3.8m.

Johnson and Johnson Egypt came in fifth place with $2.7m, followed by Royal Cosmetic in sixth with $1.9m worth of exports.

Eva Cosmetics exported goods worth $1.78m ranking seventh, one step ahead of Arma, which came in eighth with $1.76m of exports.

Madar Group Egypt came in ninth place with exports of $1.34m, followed by Johnson Wax Egypt tailing the list with exports valued at $1.33m.

Nabila Ibrahim, a member of the Pharmaceuticals, Cosmetics, and Appliances Chamber of the Federation of Egyptian Industries (FEI), said that the political unrest in some neighboring countries is the main reason for the drop in exports during the first half of this year.

She added that there were export contracts already signed with countries such as Tunisia and Libya, but the unrest occurring in those countries prevented companies from exporting.

She pointed out that, despite the appreciation of the dollar price against the Egyptian pound, demand is still down on Egyptian products.

She added that Arab countries are considered the largest consumer of Egyptian products, yet, they are suffering economic problems in the current period, forcing them to lower their imports from Egypt.

The post Cosmetics exports down by 30% appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2017/08/23/cosmetics-exports-30/feed/ 0
Pharmaceutical companies harvested $102m in H1 2017 https://dailynewsegypt.com/2017/08/23/pharmaceutical-companies-harvested-102m-h1-2017/ https://dailynewsegypt.com/2017/08/23/pharmaceutical-companies-harvested-102m-h1-2017/#respond Wed, 23 Aug 2017 20:00:38 +0000 https://dailynewsegypt.com/?p=634665 At $25.1m, exports of EIPICO the highest, Pharco ranks second

The post Pharmaceutical companies harvested $102m in H1 2017 appeared first on Daily News Egypt.

]]>
Local pharmaceutical companies realised exports worth $102m in the first half (H1) of the current year, down from $121m during the same period in 2016, a decline of 18.4%.

The report by the Export Council of Medical Industries showed that the pharmaceutical sector accounts for nearly 48% of the total medical industry’s exports.

The report pointed out that the Egyptian International Pharmaceuticals Industries Company (EIPICO) ranked first in the list of companies with the highest export value, marking $25.1m in six months.

Pharco Corporation came in second spot with exports of $13.9m, while Medical Union Pharmaceuticals ranked third with $7.2m worth of exports.

Eva Pharma Pharmaceutical Company was the fourth largest exporter with exports worth $6.1m, followed by Pharma Swede in fifth place with $3.4m.

Alkan Medical’s exports amounted to $1m, followed by the European Egyptian Pharmaceutical Industry ranked seventh with $2.8m.

The Chemical Industries Development (CID), a subsidiary of Holdipharma, came in eighth place with exports of $2.6m, outperforming El Qahera For Pharmaceutical & Chemical Industries in ninth place with $2.28m worth of exports, followed by Pharo Pharma with $2.26m.

Pharmaceutical companies operating in the Egyptian market achieved sales of EGP 23.1bn over the first six months of the current year, up by 26.8% from the same period last year.

Despite EIPICO following Pharco in selling pharmaceuticals in the local market, the former kept its first place in exports.

EIPICO accounts for a quarter of local pharmaceuticals sales, relying on having its products registered in many countries in the world, especially the markets neighbouring Egypt.

Board member of Pharmed Healthcare Alaa Borhan said that the exports declined due to the low prices.

He explained that the companies that importing Egyptian medicines require contracting at the same prices the drugs are sold for in Egypt, which takes into account social dimension, and this impacts the revenues from exports.

He called for the Ministry of Health to set special prices for export-oriented products. “Each drug must have two files in the Ministry of Health,” he stressed. “One should be for the local market with special prices for Egyptians, while the other considers exporting prices to help companies make profit margins.”

He pointed out that the local pharmaceutical companies were dependent on exporting their products to the countries of Libya, Syria, Iraq, and Yemen, and that the political crises in those countries reflected negatively on Egyptian brands.

The post Pharmaceutical companies harvested $102m in H1 2017 appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2017/08/23/pharmaceutical-companies-harvested-102m-h1-2017/feed/ 0
Medical sector exports amount to $213m in H1 2017, down 17% https://dailynewsegypt.com/2017/08/23/medical-sector-exports-amount-213m-h1-2017-17/ https://dailynewsegypt.com/2017/08/23/medical-sector-exports-amount-213m-h1-2017-17/#respond Wed, 23 Aug 2017 19:45:40 +0000 https://dailynewsegypt.com/?p=634666 Export Council of Medical Industries aims to boost revenues to $430m by the end of the year

The post Medical sector exports amount to $213m in H1 2017, down 17% appeared first on Daily News Egypt.

]]>
Exports of the medical sector, including medicines, medical supplies, and cosmetics, declined by 17% in the first half (H1) of the current year.

A report by the Export Council of Medical Industries showed that the sector exported goods worth $213m during that period, down from $257m in the same period last year.

Chairperson of the council Maged George said that most of the exports of Egyptian medical sector are channelled to the Gulf area and the Middle East, which adheres to importing Egyptian medicine at the same prices they are sold for there—a problem that impacts revenues from exports.

He told Daily News Egypt that the council will hold discussions in the coming period with the Gulf Cooperation Council (GCC) to find a solution to that problem.

George explained that the council will be accompanied by a delegation comprising representatives of the Holding Company for Pharmaceuticals to meet the delegation of the GCC.

He did not disclose the date of the meeting, saying that the time will be set after the Egyptian Ministry of Health decides who it will send as a representative.

He pointed out that the council seeks to double exports of medical industries to reach $430m by the end of the year.

Moreover, he noted that there are plans to boost exports in the African market, since it is considered a major market, adding that the council’s plan match that of the Ministry of Industry to establish several logistical centres in African countries.

George also pointed out that the council aims to take 10% of the African market across the coming 12 years and achieve exports of $1.6bn.

African countries import medical goods valued at $16bn every year. Only a small part comes from Egypt.

The council plans to support the sector’s exports in the African market to benefit from the agreements signed between Egypt and African countries such as COMESA and the economic blocs.

George said that the logistics centres that the ministry aims to implement can contribute to boosting Egyptian exports by 100% over three years.

He noted that the cost of establishing them will be covered within four years from starting operations and will not require state support for export in the fifth year.

The council is preparing to send three delegations to partake in three exhibitions in Germany and Saudi Arabia in October and November.

Executive director of the council Nivine Hossam said that the first delegation, composed of 12 local companies, will take part in the CPHI exhibition in Germany in October, while the second delegation of six companies will head to the Saudi Beauty cosmetics exhibitions in November. The third delegation of 16 countries will participate in the Medica exhibition for medical supplies, scheduled to be held in Germany also in November.

The post Medical sector exports amount to $213m in H1 2017, down 17% appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2017/08/23/medical-sector-exports-amount-213m-h1-2017-17/feed/ 0
EFG Hermes Leasing signs joint venture agreement to finance small businesses in Egypt https://dailynewsegypt.com/2017/08/23/efg-hermes-leasing-signs-joint-venture-agreement-finance-small-businesses-egypt/ https://dailynewsegypt.com/2017/08/23/efg-hermes-leasing-signs-joint-venture-agreement-finance-small-businesses-egypt/#respond Wed, 23 Aug 2017 19:30:26 +0000 https://dailynewsegypt.com/?p=634661 The agreement comes in line with the government’s focus on SMEs

The post EFG Hermes Leasing signs joint venture agreement to finance small businesses in Egypt appeared first on Daily News Egypt.

]]>
The Egyptian Arab Land Bank and EFG Hermes Leasing sign a joint venture agreement to finance capital assets and equipment for small businesses in Egypt, according to a press release on Wednesday.

The agreement comes in line with the government’s focus on small and medium enterprises (SMEs) and in support of the Central Bank of Egypt’s (CBE) initiative to expand financing to them.

The EGP 50m agreement will provide the funding at low-interest-rate lease arrangements for small enterprises in Egypt, which are considered the backbone of the national economy and key drivers of economic growth.

SMEs compose the majority of private businesses in Egypt’s economy and are the key drivers of job creation.

The agreement aims at capitalising on the CBE’s initiative to provide a healthy financial environment for small businesses to thrive in the current macroeconomic backdrop.

A signing ceremony for the agreement was held on 15 August 2017 at EALB’s Cairo headquarters, with attendees including EALB chairperson Abdel Meguid Mohy El-Din; EFG Hermes Finance chairperson Fatima Lotfy; and EALB vice chairperson Ahmed Shawky.

The post EFG Hermes Leasing signs joint venture agreement to finance small businesses in Egypt appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2017/08/23/efg-hermes-leasing-signs-joint-venture-agreement-finance-small-businesses-egypt/feed/ 0
Government approves Finance Leasing and Factoring Law, transferring it to State Council https://dailynewsegypt.com/2017/08/23/government-approves-finance-leasing-factoring-law-transferring-state-council/ https://dailynewsegypt.com/2017/08/23/government-approves-finance-leasing-factoring-law-transferring-state-council/#respond Wed, 23 Aug 2017 19:17:05 +0000 https://dailynewsegypt.com/?p=634652 The cabinet headed by Sherif Ismail, the Prime Minister, approved in its meeting on Wednesday the financial leasing and factoring law draft and was sent to the state council, according to Sahar Nasr, the Minister of Investment and International Cooperation. The Minister added that the Egyptian Financial Supervisory Authority (EFSA) has conducted a comprehensive review …

The post Government approves Finance Leasing and Factoring Law, transferring it to State Council appeared first on Daily News Egypt.

]]>
The cabinet headed by Sherif Ismail, the Prime Minister, approved in its meeting on Wednesday the financial leasing and factoring law draft and was sent to the state council, according to Sahar Nasr, the Minister of Investment and International Cooperation.

The Minister added that the Egyptian Financial Supervisory Authority (EFSA) has conducted a comprehensive review of the legislation governing the leasing and factoring activities To develop them as they are important activities that serve financing the projects and promoting development and production objectives through providing various tools to finance projects, whether productive or service.

Meanwhile, the Minister pointed out that the draft law was prepared to regulate the financing leasing activities by the help of the best international experiences in this regard. The aim of collecting the finance leasing and factoring activities under one legal framework is that they are non-bank financing tools to serve economic projects, whether through providing the necessary funding for these projects to obtain their needs for activity tools and supplies without requiring full payment of the purchase price of the capital assets through finance lease, or by providing cash for these projects during doing business through factoring.

Factoring activity is an integral part of the financial leasing activity. Factoring is a financing of working capital and finance leasing. It is the financing of investment assets.

The minister added that the law contributes in enhancing financial coverage and helps in spreading non-bank financing tools throughout the country by reaching segments of the society that do not currently benefit from many financial services.

The law also allowed companies, associations and licensed civil institution to practice micro finance activities according to the provisions of Law (141) for the year 2014,to provide micro finance leasing in accordance with the regulations determined by the authority directors board, in order to support and develop entities engaged in micro finance activity, also in order to expand the

the non-banking financial services scope by using the available database to reach larger dealers number in the small or craft industries, which is an additional incentive for small complementary industries and opens prospects for creating new jobs.

The post Government approves Finance Leasing and Factoring Law, transferring it to State Council appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2017/08/23/government-approves-finance-leasing-factoring-law-transferring-state-council/feed/ 0
CBE has no intention of allowing cryptocurrency in Egypt: official https://dailynewsegypt.com/2017/08/23/cbe-no-intention-allowing-cryptocurrency-egypt-official/ https://dailynewsegypt.com/2017/08/23/cbe-no-intention-allowing-cryptocurrency-egypt-official/#respond Wed, 23 Aug 2017 19:02:30 +0000 https://dailynewsegypt.com/?p=634657 Bitcoin plans to launch in Egypt by late August, awaits needed legislation to be legally traded

The post CBE has no intention of allowing cryptocurrency in Egypt: official appeared first on Daily News Egypt.

]]>
The Central Bank of Egypt (CBE) said that it has no intention of passing a law or issuing legislation to allow the trade of cryptocurrencies in Egypt. An official at the CBE said in a statement that the bitcoin—a famous kind of cryptocurrency—is not officially recognised in financial and banking transactions and that the sale of bitcoins in exchange for Euros or US dollars would be considered a crime.

Chairperson of the Egyptian Financial Supervisory Authority (EFSA), Reda Abdel Moaty, said in a statement last week that the authority has not issued any licenses for digital currency exchanges in Egypt. He also added that the authority has not received any requests to establish an exchange of digital currency.

On the other hand, the co-founder of Bitcoin, Rami Khalil, said that the company plans to launch bitcoins in Egypt by the end of August, specifically on the last day. “We will at least go into alpha testing at the specified time for launching if we are not fully operational,” Khalil said, as reported on Bitcoin’s official website.

Khalil said that Bitcoin is awaiting the Egyptian government to decide on issuing the proper regulations required in order to legalise the situation of Bitcoin in Egypt. “Without any laws, bitcoin is not legal money in Egypt,” Khalil added. He noted that cryptocurrencies will be a reality soon, whether the Egyptian government agrees to be part of it or not.

Bitcoin is a worldwide kind of digital assets and digital payment systems made to secure transactions, allowing anonymous peer-to-peer transactions between individual users, without the need to resort to banks or central banks within countries. In February 2015, more than 100,000 merchants and vendors accepted bitcoin as payment.

Currently, the volume of the bitcoin market is estimated at $70bn. A bitcoin is worth $4,286.03.

The post CBE has no intention of allowing cryptocurrency in Egypt: official appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2017/08/23/cbe-no-intention-allowing-cryptocurrency-egypt-official/feed/ 0
Egypt’s economy will not get affected by US aid cut: AmCham https://dailynewsegypt.com/2017/08/23/egypts-economy-will-not-get-affected-us-aid-cut-amcham/ https://dailynewsegypt.com/2017/08/23/egypts-economy-will-not-get-affected-us-aid-cut-amcham/#respond Wed, 23 Aug 2017 19:00:37 +0000 https://dailynewsegypt.com/?p=634654 Egypt is the second largest recipient of military aid from the United States after Israel, receiving about $1.3bn annually and nearly $80bn in military and economic assistance over the past 30 years

The post Egypt’s economy will not get affected by US aid cut: AmCham appeared first on Daily News Egypt.

]]>
The American administration decided to cut the financial aid for Egypt estimated at $ 95.7m and postponement of disbursement of $195m for lack of progress of human rights and democratic norms, according to Reuters.

Furthermore, the Associated Press (AP) confirmed the story, noting that the Trump administration on Tuesday cut nearly $100m in military and economic aid to Egypt and delayed almost $200m more in military financing to Egypt, pending human rights improvements and action to ease harsh restrictions on civic and other non-governmental groups.

The former dean of the Faculty of Economics and Political Science, Aliaa El-Mahdy, said the aid cut off from Egypt has little or no significance as much as strengthening the Egyptian-US relations.

El-Mahdy added that Egypt has become a big country for taking US economic aid.

She noted that she does not believe very much in the matter of cutting aid, because of the repetition of the scenario more than once, and explained the first two examples in 2008 and the American pressure for the release of Ayman Nour in former President Mubarak’s administration, the second pressure was in 2013, when former US President Barack Obama announced cutting aid from Egypt because of the ouster of President Mohamed Morsi.

El-Mahdy stressed that the aid, which will be stopped, has no value and has no economic impact on the Egyptian state budget.

She pointed out that this is very predictable in the shadow of Trump’s administration, describing it as the “troubled man”.

Executive vice president of the American Chamber of Commerce in Egypt Ahmed Abou Ali agreed with El-Mahdy, noting that the cutting of aid will not have a big significance on Egypt’s economy, as the aid amount is small.

Abou Ali explained that foreign investors are very keen to invest in the Egyptian local market.

Abou Ali told Daily News Egypt that AmCham’s board is going to hold a meeting next month to discuss the regular economic issues between the two countries, and after that announcement, the aid cut will be put on the meeting agenda.

He stressed that this issue would affect the political relations more than economic ones.

US government sources in Washington in July told Al Borsa newspaper during the international visitor programme that the US administration is following the political situation in Egypt and that democracy and respect for human rights is the basic criterion for grants and aid to Egypt in the coming period.

For its part, government sources hinted that the suspension of US aid to Egypt or even the reduction of it could negatively affect the activities of the US Agency for International Development (USAID), which has been active in Egypt since 1978.

The suspended amount of the aid, if not disbursed by the end of September, goes back to the US Treasury according to US law, especially since the US fiscal year ends at the end of September, according to USAID data.

Egypt is the second largest recipient of military aid from the United States after Israel, receiving about $1.3bn annually, and the officials noted that the US has provided nearly $80bn in military and economic assistance to Egypt over the past 30 years, according to AP.

US law requires the administration “to withhold 15%, ($195m) of the $1.3bn it gives Egypt annually” in military aid for human rights issues.

USAID’s programme in Egypt, totaling nearly $30bn since 1978, has directly and fundamentally supported its programmes in education, health, economic growth, and governance, contributing to stability and prosperity for Egyptians through accessible, effective, and accountable institutions.

The post Egypt’s economy will not get affected by US aid cut: AmCham appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2017/08/23/egypts-economy-will-not-get-affected-us-aid-cut-amcham/feed/ 0
SMEDA signs 8 funding contracts worth EGP 10.75m in six governorates   https://dailynewsegypt.com/2017/08/23/smeda-signs-8-funding-contracts-worth-egp-10-75m-six-governorates/ https://dailynewsegypt.com/2017/08/23/smeda-signs-8-funding-contracts-worth-egp-10-75m-six-governorates/#respond Wed, 23 Aug 2017 18:40:36 +0000 https://dailynewsegypt.com/?p=634647 The targeted governorates include Ismailia, Minya, Beni Suef, El Wadi El Gadid, Assiut and Sohag

The post SMEDA signs 8 funding contracts worth EGP 10.75m in six governorates   appeared first on Daily News Egypt.

]]>
Nevine Badreldin, the operations manager of the Micro Finance Sector at the Small and Medium Enterprise Development Authority (SMEDA), previously known as the Social Fund for Development, has signed eight contracts with a number of civil society associations to fund micro enterprises in six governorates, namely Ismailia, Minya, Beni Suef, New Valley, Assiut, and Sohag.

The contracts come in the framework of SMEDA’s keenness to encourage the establishment of micro-enterprises that contribute to creating more job opportunities, in line with the authority’s policy in this field.

The total value of the contracts reached EGP 10.75m, provided by the SMEDA through several agreements, which were made possible by the efforts of the Ministry of International Cooperation, including the Khalifa Fund for Enterprise Development Agreement, the Saudi Fund Agreement, and the Agreement on Enhancing the Marketing Capacity of Farmers financed by the International Fund for Agricultural Development (IFAD).

The allocated funding is expected to establish 2,150 micro-enterprises in six governorates.
According to Badreldin, the micro loans worth EGP 10,000 will benefit about 2,365 people in the targeted governorates, provided that at least 25% of the total value of those contracts will be directed for projects owned by women with the aim of supporting them economically and socially.

Badreldin pointed out that SMEDA seeks to improve living conditions of citizens and provide more job opportunities through the expansion in lending by associations and civil institutions in villages and neighbourhoods across all governorates of Egypt.

The post SMEDA signs 8 funding contracts worth EGP 10.75m in six governorates   appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2017/08/23/smeda-signs-8-funding-contracts-worth-egp-10-75m-six-governorates/feed/ 0
Mamish, Nasr discuss investment opportunities in Suez Canal with Vietnamese prime minister https://dailynewsegypt.com/2017/08/23/mamish-nasr-discuss-investment-opportunities-suez-canal-vietnamese-prime-minister/ https://dailynewsegypt.com/2017/08/23/mamish-nasr-discuss-investment-opportunities-suez-canal-vietnamese-prime-minister/#respond Wed, 23 Aug 2017 18:34:47 +0000 https://dailynewsegypt.com/?p=634649 Mamish and Nasr agreed with Vietnamese ministers of investment and transportation to sign 5 MoUs on investment, stock exchange, and cooperation in ports

The post Mamish, Nasr discuss investment opportunities in Suez Canal with Vietnamese prime minister appeared first on Daily News Egypt.

]]>
Minister of Investment and International Cooperation Sahar Nasr and head of the Suez Canal Authority Mohab Mamish met with the Vietnamese prime minister, Nguyen Xuan Phuc, during their visit to Hanoi to discuss the investment opportunities in the Suez Canal.

The Vietnamese prime minister expressed his happiness with the visit, referring to the historical relations between Egypt and Vietnam, expressing the aspiration of the Vietnamese government to cooperate with its Egyptian counterpart in many sectors.

In the same context, Nasr said Egypt aspires to exchange Vietnamese and Egyptian experiences in many sectors, as well as opening up opportunities for Vietnamese investments and expertise to Egypt in the coming period, especially in the Suez Canal Economic Zone (SCZone), pointing to the investment advantages enjoyed by Egypt governorates after the new investment law adoption including advantages and tax exemptions in the most needy areas, especially in Upper Egypt, pointing to the experience of successful economic reform which is implemented by the Egyptian government to stimulate foreign direct investment.

The head of the Suez Canal Authority expressed his aspiration to cooperate in the fields of shipbuilding, fish farming, medicine, and food industries. The two sides agreed to sign memorandums of understanding (MoUs) for cooperation in the fields of investment and stock exchange and to establish an Egyptian-Vietnamese business forum soon.

Earlier in December, Mohamed Magdy, head of fish farming at the Suez Canal Authority, presented a summary of the fish farming project in the eastern Suez Canal. He pointed out that the current fish production volume reached 1.4m tonnes. In contrast, local consumption reached 2.1m tonnes, which leads to a deficit of 700,000 tonnes per year.

Mamish presented the incentives and investment opportunities in the economic zone, referring to its genius place where its ports and economic zones are a global focal point in trade and maritime transport between Africa and Asia and among the countries of the world.

In another context, Nasr and Mamish met with Vietnamese Minister of Transportation Truong Quang Nghia. The two sides agreed to sign 3 MoUs between the SCZone and the Vietnamese Ministry of Transport for cooperation in the field of ports.

The Egyptian-Vietnamese Joint Committee has not been held since 2008. Currently, the work of this committee is being activated to achieve the desired results of the meeting, according to Nasr.

Before heading to Singapore, Nasr and Mamish visited the Singapore Investment Zone in Hanoi, where they listened to an explanation of Singapore’s experience in setting up investment zones outside the country.


The post Mamish, Nasr discuss investment opportunities in Suez Canal with Vietnamese prime minister appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2017/08/23/mamish-nasr-discuss-investment-opportunities-suez-canal-vietnamese-prime-minister/feed/ 0
Detaining 16 suspects of organ trafficking for 15 days pending investigation  https://dailynewsegypt.com/2017/08/23/detaining-16-suspects-organ-trafficking-15-days-pending-investigation/ https://dailynewsegypt.com/2017/08/23/detaining-16-suspects-organ-trafficking-15-days-pending-investigation/#respond Wed, 23 Aug 2017 18:22:26 +0000 https://dailynewsegypt.com/?p=634638 The Egyptian law regulates donating organs in condition that the host is a relative, bans human organs trade

The post Detaining 16 suspects of organ trafficking for 15 days pending investigation  appeared first on Daily News Egypt.

]]>
The South Giza prosecution renewed Tuesday the detaining of 16 suspects accused of organ trafficking in Abu Al-Nomrous, Giza, for 15 days pending investigation state media reported.

On Tuesday, the Egyptian Ministry of Interior announced arresting a cell of 12 suspects, accusing them of trading in human organs. The ministry said that the cell includes three doctors, four nursing staff members, three workers in hospitals, and two mediators. The cell agreed with Egyptians to sell their organs to foreign patients.

The ministry said that the security forces arrested the suspects during an operation to eradicate a part of a liver and a ren from a citizen in a private hospital, for $10,000.

On Saturday, the Ministry of Health denied in a statement, claims of organ trade in hospitals, saying that organ transplants take place according to strict legal procedures in licensed hospitals and is subject to meticulous monitoring.

The denial came as a response on a report prepared by German journalist Thilo Mischke, which said that Egypt was an attractive destination for medical tourism as it is cheaper than Europe. The report states on several instances that there is a growing demand among foreigners, and the increasing demand in the European market is behind the development of the business in an informal manner.

In December, General Prosecutor Nabil Sadek referred 41 defendants to the Criminal Court on accusations of human trafficking and trading of human organs. The total amount of money the defendants have gained from these crimes reaches more than EGP 20m, state media reported.

Twenty doctors working in public hospitals in the departments of urinary tract, general surgery, and anesthesia—as well as 10 nursing staff members, 9 mediators, and 2 workers in the blood bank—were accused of operating 29 surgery operations to transfer organs to some foreign patients, the report added.

The law regulating donating organs in condition that the host is a relative between the patient and the donor bans human organs trade.

The post Detaining 16 suspects of organ trafficking for 15 days pending investigation  appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2017/08/23/detaining-16-suspects-organ-trafficking-15-days-pending-investigation/feed/ 0
UK Minister for Middle East in Cairo to discuss bilateral cooperation https://dailynewsegypt.com/2017/08/23/uk-minister-middle-east-cairo-discuss-bilateral-cooperation/ https://dailynewsegypt.com/2017/08/23/uk-minister-middle-east-cairo-discuss-bilateral-cooperation/#respond Wed, 23 Aug 2017 16:51:38 +0000 https://dailynewsegypt.com/?p=634645 The UK is Egypt’s number one economic, investment partner, strong supporter of Egypt’s economic reform, says John Casson

The post UK Minister for Middle East in Cairo to discuss bilateral cooperation appeared first on Daily News Egypt.

]]>
Alastair Burt, the United Kingdom’s Minister for the Middle East, will arrive in Cairo on Wednesday to meet with his Egyptian counterparts to discuss British-Egyptian cooperation and UK support to Egypt, with economic and educational reform being the main focus of the visit.

Moreover, Burt plans to discuss regional issues and international counter terrorism efforts with Egyptian Foreign Minister Sameh Shoukry. He is scheduled to held meetings with Egypt’s ministers of interior and education, as well as business leaders, according to a press statement released by the British embassy in Cairo.

UK is Egypt’s top economic and investment partner, with investments in the first half (H1) of 2016/17 alone amounting to $2.9bn. British ambassador to Egypt John Casson has announced earlier in Feburary that the UK is planning to invest more than $13bn in the next five years, especially in the oil and gas sector.

Burt will discuss new investments and further UK support for Egypt’s economic reform programme, through providing additional technical assistance to reform policies in the ministries of finance, investment, industry, petroleum, and education. In addition to the implementation of the $150m support agreed by Foreign Secretary Boris Johnson in his meeting with President Abdel Fattah Al-Sisi in February.

“I look forward to my first visit to Egypt following my re-appointment as a UK foreign office minister. The UK is a longstanding friend of Egypt, and this visit to Cairo is an ideal opportunity for me to discuss further UK-Egyptian collaboration in many areas, including education and economic reform,” said Burt.

This is Burt’s first visit to Egypt since his appointment to the new position as the first-ever joint State Minister for the Middle East and North Africa for both the Foreign Office and Department for International Development.

Furthermore, job creation is one of the main topics on the visit’s agenda due to its essential role in the Egyptian economic development. Consequently, Burt will meet with young Egyptian social entrepreneurs. According to the statement, the UK is working with the Egyptian government on licensing reform to make it easier for entrepreneurs to start their own business, which will improve the investment environment, benefitting both Egyptian companies and UK investors.

On the other hand, meeting between Egyptian Minister for Education Tarek Shawky and Burt is scheduled to take place in order to discuss the UK’s support for the Egyptian government’s progressive plans to reform education, which includes technical assistance to the Ministry for Education.

The British government provide support to education in Egypt through various scholarships such as Chevening programme, which gives fully paid scholarships to study at the UK’s top universities, a worldwide programme, where Egypt is number one globally in the number of students applying for the scholarship.

“No country is doing more than Britain to support Egypt’s education and economy—the pivotal issues in a pivotal country for this region and the world. The UK is Egypt’s number one economic partner: the largest foreign investor in Egypt and a strong supporter of the government’s economic reform programme. And we know that alongside economic growth, education is crucial in giving dreams and opportunities for the people of Egypt. Education and economy will be at the heart of this visit to keep Britain as number one partner and take our partnership to the next level in support of the government and people of Egypt in their ambitious reform programme,” said Casson.

While in regards to counter terrorism efforts, the statement cites that both the UK and Egypt have faced senseless terrorist attacks recently, leading to the deaths of many innocent people. The visit is an important time to reinforce British-Egyptian cooperation in facing the shared threat of terrorism and how to combat radicalisation.

The post UK Minister for Middle East in Cairo to discuss bilateral cooperation appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2017/08/23/uk-minister-middle-east-cairo-discuss-bilateral-cooperation/feed/ 0
Egypt electricity consumption worth EGP 12bn last month https://dailynewsegypt.com/2017/08/23/egypt-electricity-consumption-worth-egp-12bn-last-month/ https://dailynewsegypt.com/2017/08/23/egypt-electricity-consumption-worth-egp-12bn-last-month/#respond Wed, 23 Aug 2017 15:20:26 +0000 https://dailynewsegypt.com/?p=634643 Billing throws subscribers after first month of price increases

The post Egypt electricity consumption worth EGP 12bn last month appeared first on Daily News Egypt.

]]>
The total value of electricity consumption bills during the last month reached EGP 12bn, including all household, commercial, and industrial sectors, as well as administrative and governmental sectors.

Sources at the Ministry of Electricity told Daily News Egypt that electricity distribution companies are committed to the prices announced by the Minister of Electricity and did not increase prices on consumption bills, but high temperatures last month resulted in increased consumption and thus the bill value rises with the increase in consumption and keeping ACs and fans on for over 20 hours per day.

July electricity bills shocked consumers. They complained from the high surge in bills, which exceeded 100% from the month before.

Wael Said, an employee, said he refused to pay the bill for the consumption of the month of July, which amounted to EGP 350, while his previous bill was only EGP 180, indicating a price increase of 100%.

Said called the complaint hotline to complain about the value of the invoice and did receive an answer or solution so far, so he told the collector that he will not pay the bill until the realisation of the error.

The consumption bill for July is the first application of the new increase in prices of the consumption segments according to the price structure program approved by the Ministry of Electricity.

Amna Lotfy, an engineer, said she was shocked by her household consumption bill that reached EGP 1,800, even though she spent 15 days in the North Coast and did not use the electricity at her house all that time.

She explained that she had contacted the Egyptian Electric Utility & Consumer Protection Regulatory Agency to complain and did not pay the bills. She was promised her issue will be resolved.

The Minister of Electricity announced the new increase in electricity prices for households, where the segment consuming 0 to 50 KW pays 13 piastres per KW/h. The segment from 51 to 100 KW pays 22 piastres per KW/h. The segment from 101 to 200 KW pays 27 piastres per KW/h.

The segment from 201 to 350 KW pays 55 piastres per KW/h, up from 42.5 piastres. The segment consuming between 351 and 651 KW pays 75 piastres per KW/h up from 55 piastres. Finally, consumers of 651 to 1,000 KW pays 125 piastres per KW/h up from 95 piastres.

 

The post Egypt electricity consumption worth EGP 12bn last month appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2017/08/23/egypt-electricity-consumption-worth-egp-12bn-last-month/feed/ 0
Egypt regrets US’s suspending of military, financial aid https://dailynewsegypt.com/2017/08/23/egypt-regrets-uss-suspending-military-financial-aid/ https://dailynewsegypt.com/2017/08/23/egypt-regrets-uss-suspending-military-financial-aid/#respond Wed, 23 Aug 2017 15:08:42 +0000 https://dailynewsegypt.com/?p=634640 Cutting aid comes as Jared Kushner arrives to Cairo to meet officials eyeing peace process

The post Egypt regrets US’s suspending of military, financial aid appeared first on Daily News Egypt.

]]>
Following a warm period of relations between Egypt and the US since the election of President Donald Trump, Egypt said on Wednesday it regrets the US’s withdrawal of military and financial aids.

Egyptian Foreign Ministry’s statement comes after a Tuesday Reuters report citing two anonymous sources who said the US will “deny Egypt $95.7million in aid and to delay a further $195 million because of its failure to make progress on respecting human rights and democratic norms.”

Egypt said that the measure reflects an imprecise understanding of the “strategic relations between the two countries.” The statement, which was released by the Ministry of Foreign Affairs, said that the decision to cut the aids shows that the measures lacked understanding of “the importance of Egypt’s stability and the amount of security and economic challenges” the country is facing.

The measures, the statements added, “will have negative results on Egyptian-American common interests.”

Sources in the Egyptian parliament said, on condition of anonymity, that the concerned committees in the parliament will discuss the suspension of the aids, while adding that the decision will have negative impacts on the relations between the two countries.

Tarek El-Khouly, a member in the parliament’s Committee of Foreign Affairs, said in press statement on Wednesday that “human rights is no longer a tool to pressure and interfere in the internal affairs of Egypt.” He added that the measures is ignoring the sacrifices of the Egyptian people who sacrificed to fight the terrorism, which “the Obama administration helped creating.”

He added that cutting the aids contradicts the US’s policy to counter terrorism

The ministry, however, said that it hopes the American administration “recognises and respects the vital importance of the Assistance Programme to both countries’ common interests, and maintains the strong relationship between the two nations.”

In what is thought to be a protest to the aids cut, the Ministry of Foreign Affairs rescheduled the meetings of minister Shoukry, hence cancelling his meeting with Kushner at 2.00pm. Instead, Shoukry scheduled to meet Mohamed Ali Al-Hakim, the executive secretary of the United Nations Economic and Social Commission for Western Asia (ESCWA).

Although President Al-Sisi was warmly welcomed and praised by his American counterpart last May in an official visit in the White House, Reuters quoted sources saying that “the decision reflects a US desire to continue security cooperation as well as frustration with Cairo’s stance on civil liberties.”

The report singled out the new Non-Governmental Organisation (NGOs) Law, which President Al-Sisi ratified last May, despite criticism from NGO workers who cited that the law makes it difficult for NGOs, when it comes to their registration, paperwork, and starting capital, adding that this will enable the interference of security agencies.

In June, after the law was ratified, two American senators, Republican senators John McCain and Lindsey Graham slammed the passing, describing it as giving way for “draconian” measures, while calling on President Al-Sisi to amend the law for it to meet internationally acknowledged standards.

Although local media and pro-state outlets have been rejoicing the “boom” in the relations between the two countries, especially after the loss of Hillary Clinton, who was critical of some human rights practices, the American official bodies, other than the presidency, such the US State Department and the Congress, have been vocally citing violations.

Last April, Egypt’s Foreign Affairs Ministry criticised the Senate’s hearings, which aimed to present an assessment of the financial aid presented to Egypt from the United States. American researcher Michele Dunne, former US ambassador to Egypt Daniel Kurtzer, and former US state department official Dennis Ross pointed out alleged human rights violations in Egypt, an issue which the Foreign Ministry considered as “partisan” and an intentional act of negatively interpreting the situation.

At the time, the speakers were questioned by senators about the continuation or suspension of aid to Egypt. Opinions varied, with a state of polarization overwhelming the views of the senators.

In March the US State Department’s annual report of human rights report said, “the most common human rights problems were excessive use of force by security forces, deficiencies in due process, and the suppression of civil liberties. Excessive use of force included unlawful killings and torture.”

The report which cited the cases of the murder of Italian student Giulio Regeni and Magdy Makeen, and other accusations, was described by the Egyptian foreign ministry’s spokesperson, Ahmed Abou Zaid, as an American method that is based on internal regulations and that is not related to the legal context and structure which Egypt abides by.

One of the cases where Al-Sisi and Trump discussed during their meetings was the situation of American citizen Aya Hegazy, the founder of the Beladi Foundation. She spent three years in prison pending trial and was released after being acquitted. Hegazy was later received in the US by president Donald Trump at the White House.
Another case was the “NGOs’ foreign funding” case which dates back to December 2011 when prosecutors, backed by the police, stormed the offices of 17 local and international NGOs, including the International Republican Institute, the National Democratic Institute, and Freedom House. The NGOs were being investigated for allegedly receiving illegal foreign funding.

 

The post Egypt regrets US’s suspending of military, financial aid appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2017/08/23/egypt-regrets-uss-suspending-military-financial-aid/feed/ 0
Al-Azhar Grand Imam highlights tolerance concepts in renewing religious discourse https://dailynewsegypt.com/2017/08/23/al-azhar-grand-imam-highlights-tolerance-concepts-renewing-religious-discourse/ https://dailynewsegypt.com/2017/08/23/al-azhar-grand-imam-highlights-tolerance-concepts-renewing-religious-discourse/#respond Wed, 23 Aug 2017 14:59:50 +0000 https://dailynewsegypt.com/?p=634636 Al-Sisi received Ahmed Al-Tayeb on Tuesday

The post Al-Azhar Grand Imam highlights tolerance concepts in renewing religious discourse appeared first on Daily News Egypt.

]]>
Grand Imam of Al-Azhar Ahmed Al-Tayeb said Muslim clerics were developing efforts in opposing extremist religious thought through reinforcing values of tolerance and the acceptance of the “other”, in a Tuesday briefing with President Abdel Fattah Al-Sisi.

According to a presidential statement, the Grand Imam highlighted the importance of enhancing values of citizenship, freedom, and social and cultural diversity, in accordance with reshaping a religious discourse that upholds the tolerant principles of the Islamic religion.

Efforts aimed at renewing the religious discourse come within a campaign aimed at confronting terrorism, amid attacks that took place in Egypt in recent years, namely deadly bombing of churches.

The two parties further discussed means of boosting the role of Al-Azhar’s commissioners abroad and the increase in scholarships offered by Al-Azhar to foreigners.

The meeting asserted the necessity of respecting other’s beliefs and the religious variety.

Al-Azhar faced a storm of criticism following the attack on two churches during Palm Sunday celebrations early in April, which claimed the lives of 45 people and injured dozens.

Criticism against Al-Azhar has increased by public figures and media outlets after President Abdel Fattah Al-Sisi’s speech, which asserted the need to renew religious rhetoric and form a new body to fight terrorism.

The post Al-Azhar Grand Imam highlights tolerance concepts in renewing religious discourse appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2017/08/23/al-azhar-grand-imam-highlights-tolerance-concepts-renewing-religious-discourse/feed/ 0
Shoukry ends European tour in Lithuania, promoting Khattab’s candidacy to head UNESCO https://dailynewsegypt.com/2017/08/23/shoukry-ends-european-tour-lithuania-promoting-khattabs-candidacy-head-unesco/ https://dailynewsegypt.com/2017/08/23/shoukry-ends-european-tour-lithuania-promoting-khattabs-candidacy-head-unesco/#respond Wed, 23 Aug 2017 14:05:34 +0000 https://dailynewsegypt.com/?p=634633 The visit is first of its kind for an Egyptian minister to Lithuania

The post Shoukry ends European tour in Lithuania, promoting Khattab’s candidacy to head UNESCO appeared first on Daily News Egypt.

]]>
Egypt’s Minister of Foreign Affairs Sameh Shoukry met Tuesday with Lithuanian President Dalia Grybauskaite in the Lithuanian capital city Vilnius and handed her a letter from President Abdel Fattah Al-Sisi, Ministry of Foreign Affairs spokesperson Ahmed Abu Zaid said in a statement.

The meeting comes at the end of Shoukry’s European tour to Russia, Estonia, and Lithuania. He also met with his Lithuanian counterpart Linas Linkevicius.

Abu Zaid said that Shoukry’s visit is the first visit for an Egyptian minister to Lithuania, in light of Egypt’s keenness to develop bilateral relations with Lithuania and other Baltic states and coordinate in international forums and the European Union (EU).

The meetings discussed several issues of common interest and the candidacy of Moushira Khattab to head the United Nations Educational, Scientific and Cultural Organization (UNESCO), the statement read.

Shoukry asserted the necessity of increasing trade exchange between the two countries and cooperating in communications, tourism, renewable energy, and industrial fields, according to the statement.

The post Shoukry ends European tour in Lithuania, promoting Khattab’s candidacy to head UNESCO appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2017/08/23/shoukry-ends-european-tour-lithuania-promoting-khattabs-candidacy-head-unesco/feed/ 0
Court postpones Mubarak sons’ trial in ‘stock market manipulation’ to 14 October https://dailynewsegypt.com/2017/08/23/court-postpones-mubarak-sons-trial-stock-market-manipulation-14-october/ https://dailynewsegypt.com/2017/08/23/court-postpones-mubarak-sons-trial-stock-market-manipulation-14-october/#respond Wed, 23 Aug 2017 14:00:50 +0000 https://dailynewsegypt.com/?p=634632 Mubarak-era tycoon Hussein Salem acquitted of money laundering 

The post Court postpones Mubarak sons’ trial in ‘stock market manipulation’ to 14 October appeared first on Daily News Egypt.

]]>
Cairo Criminal Court postponed Wednesday the trial of Gamal and Alaa Mubarak, sons of former President Hosni Mubarak, in the case of “stock market manipulation”, to 14 October, until forming a committee of five experts to study the case and give a technical opinion, according to state media.

The court also acquitted Tuesday Mubarak-era businessman Hussein Salem and his two children, Khaled and Majida, in the retrial of the case of money laundering of more than $2bn and profiting from a deal to export Egyptian gas to Israel.

Cairo’s Criminal Court had acquitted Salem in 2015, but the public prosecutors appealed the verdict.

In October 2011, the same court sentenced Salem and his daughter and son to 7 years in prison in absentia, and fined them $4.06bn. He was granted a retrial after appealing at the Court of Cassation.

In 2012, Spain’s Court of Appeal agreed to send Salem back to Egypt in accordance with Egypt’s request, but the Constitutional Court of Spain postponed the action again to decide if it violates his constitutional rights.

In February, an Egyptian court lifted the asset freeze on the business tycoon, who was very close to the family of former President Mubarak.

Salem, who fled to Spain after the 25 January Revolution, recently entered into a reconciliation agreement with the current authorities to drop charges of corruption in return for repaying a fraction of the value of the funds he is suspected to have embezzled.

According to the reconciliation, Salem’s family should give the state 75 percent of the total assets they own inside Egypt and abroad, which are worth a value exceeding EGP 5bn.

The post Court postpones Mubarak sons’ trial in ‘stock market manipulation’ to 14 October appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2017/08/23/court-postpones-mubarak-sons-trial-stock-market-manipulation-14-october/feed/ 0
“Egyptian misery”: short film features unrevealed despair stories of young Egyptian men  https://dailynewsegypt.com/2017/08/23/egyptian-misery-short-film-features-unrevealed-despair-stories-young-egyptian-men/ https://dailynewsegypt.com/2017/08/23/egyptian-misery-short-film-features-unrevealed-despair-stories-young-egyptian-men/#respond Wed, 23 Aug 2017 11:00:10 +0000 https://dailynewsegypt.com/?p=634618 The film features 8 mid-twenties men, while they speak about their sexual oppression, lack of jobs availability, lost love and unbearable life conditions

The post “Egyptian misery”: short film features unrevealed despair stories of young Egyptian men  appeared first on Daily News Egypt.

]]>
People are deep oceans that are full of hidden stories; sailing these strong waves seeking to bring those stories out is Khaled Khella’s biggest passion as a director. Videotaping the suffering stories of random people who belong to middle class and tell the stories captivated behind their calm looks and peaceful appearance was his main goal while directing his last short film “Egyptian Misery”.

Egyptian Misery is a five-minute film that portrays Egyptian male sufferings in the community. With 8 different characters, each fight a different battle, these young men present the everyday people, one meets at public transportations or even deals with them on daily basis without noticing their submarine volcanos.

Khella is a 25-year-old director, who has been in the field of film making for 8 years. With several small works, his main goal is to present the bare truth of Egyptian society in all its shocking forms including the daily used vocab which are unfamiliarly used on camera.

“Based on True stories” is the introduction scene of the film. During the scenes of his work, Khella voices the depression of his generation with the stories he had personally lived within his living circle.

“These characters are all the truth of what our generation is going through” Khlella told Daily News Egypt “there was not a one of them that I haven’t personally met in my life”.

Throughout the film’s few minutes, viewers get to listen to the inner voices of mid-twenties men, while they speak about their sexual oppression, lack of jobs availability, seeking love and unbearable life conditions.

“I wasn’t really planning to write a film of only men’s suffering in the Egyptian community, I just had several stories written down about many characters that I thought combining them in one final short film will end up good. With the overwhelming feelings of writing I never really noticed anything. Then, I surprisingly found out that the film is about men!” Khella said.

One of the characters screened in film, is a young man who looks like the man next door. He is captured sitting at the top of a hill with a mannequin, while he smilingly says that gays’ lives in Egypt is simple and easy.

“A man can sleep at his friend’s house and have sex without looking suspicious. Even if they are sitting together in a street, no one will notice anything.  However, we [straight people] have no place in this country, and we struggle for just one kiss!” he calmly says.

Another scene shows an overweight man leaning his back on a wall beside sprayed words that read “I’m Karim and I wish I could talk to a girl” with his phone number written. Just a few seconds of silence are followed with him saying “I pray you all die!”.

The characters leave audience with many scenarios in their heads of what could had happened to each of them in order to reach the point of saying words that are opposite their true feelings or the truth.

“That is something that I purposely did in the film” Khella stated “because I wanted each viewer to think the amount of injustice these persons went through, which are eventually what we in real life experience as well”.

The film was shot in 4 days, with only EGP 2000 budget. As for the stars, they were all young unknown actors who applied through an audition Khella announced with the help of a famous local Facebook page holds the same name of the film, “Egyptian misery”.

The page is a social platform where people send their confessions of seek help anonymously. Three out of the screened characters, were originally the stories of men who sent anonymous problems to the page, and Khella read them.

“I believe that the one common thing about all these different stories, is that people can personally connect to each and every one of them. They are all so real that one can’t help but finding himself of one that he knows in them.” Khella commented.

The film got wide acceptance over the social media exceeding all expectations, “I was expecting people to feel uncomfortable towards the used language of the film, however, I was surprised with thousands of likes and shares, and over 25.000 views in the first couple of days!” he smilingly added.

After the warm acceptance people had towards the film, the crew is currently considering having another similar film about women oppression and struggles in the society.

The post “Egyptian misery”: short film features unrevealed despair stories of young Egyptian men  appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2017/08/23/egyptian-misery-short-film-features-unrevealed-despair-stories-young-egyptian-men/feed/ 0
How OPPO developed its cameras https://dailynewsegypt.com/2017/08/23/oppo-developed-cameras/ https://dailynewsegypt.com/2017/08/23/oppo-developed-cameras/#respond Wed, 23 Aug 2017 09:30:47 +0000 https://dailynewsegypt.com/?p=634621 Director of Camera technology, Photography Lab, OPPO, Qiqun Zhou, said that in May 2008, OPPO launched the A103, its first Smiley Face mobile phone. At the time, it had the best photo-taking and video-recording capabilities among all its peers of a similar grade. In 2009, OPPO launched the camera phone P51 featuring a 5 MP …

The post How OPPO developed its cameras appeared first on Daily News Egypt.

]]>
Director of Camera technology, Photography Lab, OPPO, Qiqun Zhou, said that in May 2008, OPPO launched the A103, its first Smiley Face mobile phone. At the time, it had the best photo-taking and video-recording capabilities among all its peers of a similar grade.

In 2009, OPPO launched the camera phone P51 featuring a 5 MP camera with multiple features, including auto focus, face detection, image stabilization, red-eye reduction, 8x digital zoom and real-shot for fun images. Then, in 2012, OPPO was the first to introduce the beautify function into mobile phones with the successive launch of two revolutionary products, the U701 and U2. The success of these two products created a new segment in the mobile phone market—smartphones equipped with beautify features. This created a new trend where users would snap selfies and then beautify the result before posting it to social media. Naturally, many manufacturers followed suit and launched similar products.

The OPPO U701 was the first smartphone in the market with the function to beautify selfies. At the time, smartphone front camera quality was generally 1.3 MP. Yet, the OPPO U701 had an unprecedented 2MP camera and the Beauty+ engine, which was capable of smart facial recognition, skin tone touch-up, and facial feature enhancement.

In 2012, the OPPO Find3 was configured with the “instant shot” function. The perfect final image was captured the moment the shutter was pressed, without any delay.

In 2013, OPPO launched the N1, the world’s first 206° rotating camera phone. It was equipped with a 13 MP camera for capturing images from the front or rear. During the same year, OPPO introduced the 8s slow exposure which brought more possibilities to mobile photography.

In 2014, the Find7 was launched; its ultra-HD function was released ahead of competitors. With the multi-frame processing technology, the quality of images captured by its 13MP camera could become a composite at 50MP, which rivalled the quality of main images seen on magazine covers. This was another breakthrough for OPPO’s multi-frame processing technology. The Find7 was also equipped with the multi-frame image stabilization technology. The moment the shutter was pressed; several images would be captured continuously in the background. The best image was then automatically selected and saved. The entire process lasted only tens of milliseconds. To date, it is still the fastest automatic background multi-frame selection and image stabilization feature in the industry.

In 2014, OPPO N3 was upgraded to the motorized 206° freely-stop rotating camera. It is still the world’s only patented mobile phone with motorized rotating camera technology. The OPPO N3 lens was honourably granted professional certification by Germany’s Schneider Kreuznach.

This spirit of innovation continued to drive OPPO forward. In 2016, OPPO announced the ‘Selfie Expert’ F-series. The flagship model, the F1 Plus, was OPPO’s first device packed with a 16-megapixel front camera. In the same year, OPPO worked with Sony to co-develop the customized 1/2.8-inch IMX398 sensor for the R9s. The outstanding product performance and amazing user experiences placed OPPO as the leading brand in setting trends for smartphone photography.

The post How OPPO developed its cameras appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2017/08/23/oppo-developed-cameras/feed/ 0
Milestones: from MP3 player manufacturer to China’s Top smartphone brand https://dailynewsegypt.com/2017/08/23/milestones-from-mp3-player-manufacturer-to-chinas-top-smartphone-brand/ https://dailynewsegypt.com/2017/08/23/milestones-from-mp3-player-manufacturer-to-chinas-top-smartphone-brand/#respond Wed, 23 Aug 2017 09:00:36 +0000 https://dailynewsegypt.com/?p=634615 OPPO was globally registered in 2001, and OPPO China was established in 2004. Following its establishment, OPPO manufactured MP3 and MP4 players in 2005 and 2006. In 2008, OPPO introduced its first feature phone through “A103 Smile face”. In 2009, the brand introduced the Blu-ray player in US and Europe. Entering the smartphone era, OPPO …

The post Milestones: from MP3 player manufacturer to China’s Top smartphone brand appeared first on Daily News Egypt.

]]>
OPPO was globally registered in 2001, and OPPO China was established in 2004. Following its establishment, OPPO manufactured MP3 and MP4 players in 2005 and 2006.

In 2008, OPPO introduced its first feature phone through “A103 Smile face”. In 2009, the brand introduced the Blu-ray player in US and Europe. Entering the smartphone era, OPPO launched its first smartphone “Find” in 2011. This was followed by the “Finder & Find 3” in 2012 and the “Find 5, N1, ColorOS” in 2013. In 2014, the “N3” was launched, which was the first mobile ever with a motorised rotating camera with 206°of rotation. The company then launched the “R7 & R7 Plus” in 2015, “R9 series” and “F1 series” in 2016, and “F3 series” and “R11 series” in 2017.

Enlarging its footprint worldwide, OPPO operates in a total of 27 markets across the globe, as follows: 10 markets in Southeast Asia, 6 in South and Central Asia, 4 in Africa, 5 in the Middle East, and 2 in Oceania.

In 2016, OPPO was ranked the fourth smartphone brand globally with a market share increase of 132.9%, according to IDC Worldwide Quarterly Mobile Phone Tracker. In 2016, OPPO topped the Chinese smartphone market with a 122.2% increase, according to IDC.

The post Milestones: from MP3 player manufacturer to China’s Top smartphone brand appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2017/08/23/milestones-from-mp3-player-manufacturer-to-chinas-top-smartphone-brand/feed/ 0
OPPO R&D labs https://dailynewsegypt.com/2017/08/23/oppo-rd-labs/ https://dailynewsegypt.com/2017/08/23/oppo-rd-labs/#respond Wed, 23 Aug 2017 08:30:49 +0000 https://dailynewsegypt.com/?p=634612 R&D is depicted in the smartphones of OPPO, including the R5, which features an asymmetric “micro-arc frame” design with a 4.85 mm ultra-thin frame, giving birth to a solid metallic body with the most complicated production process in smartphone history. OPPO has also allowed fans to partake in the R&D and design process of certain …

The post OPPO R&D labs appeared first on Daily News Egypt.

]]>
R&D is depicted in the smartphones of OPPO, including the R5, which features an asymmetric “micro-arc frame” design with a 4.85 mm ultra-thin frame, giving birth to a solid metallic body with the most complicated production process in smartphone history.

OPPO has also allowed fans to partake in the R&D and design process of certain products, giving them an opportunity to see how they develop their carefully crafted pieces.

OPPO has also forged close partnerships with several top enterprises in the area of R&D and design, such as Qualcomm. OPPO has introduced Qualcomm’s 7×30, 8×55, 8×60, APQ8064, MSM8974, MSM8928, MSM8916, and MSM8939 processors in its products.

The post OPPO R&D labs appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2017/08/23/oppo-rd-labs/feed/ 0
38 production lines produce motherboards with each line producing 7.5 million devices monthly https://dailynewsegypt.com/2017/08/23/38-production-lines-produce-motherboards-line-producing-7-5-million-devices-monthly/ https://dailynewsegypt.com/2017/08/23/38-production-lines-produce-motherboards-line-producing-7-5-million-devices-monthly/#respond Wed, 23 Aug 2017 08:00:13 +0000 https://dailynewsegypt.com/?p=634607 Company follows stages of motherboard production with strict tests for produced devices

The post 38 production lines produce motherboards with each line producing 7.5 million devices monthly appeared first on Daily News Egypt.

]]>
Giant production lines established on vast areas where teams of Chinese youth work hard for over nine hours a day to manufacture and test OPPO’s smartphones. Daily News Egypt has recently conducted a tour in the company’s plant in China to learn more about the manufacturing and tests done by the company.

Quality Engineering Lab

This lab is specialized in regularly spot-checking the handsets from the beginning to mass production so as to manage and control the handset quality.

Lab tests can be divided into electrical performance tests, structural tests (destructive, structure-plug), environmental aging test (continuous aging of functional components, adaptability in various environments). The total number of tests is more than 150.

Quality Assurance tests highlights:

Micro drop test: The front and back areas of the handset are thrown from a 7cm height 20,000 times respectively, and the handset is also thrown from the other four sides. Each handset is thrown 42,000 times in total.

Button click test: As the Power and Volume keys are frequently used, they tap each side key 100,000 times with the 1kg force and tap the fingerprint key 1 million times. If consumers click buttons 50 times a day, it will take around 6 years to finish all the 100,000 clicks.

Drop test: The minimum height of the falling handset is 1.0m. The handset will fall from its six surfaces, eight corners, and 12 edges and fall from each surface, corner and edge twice. If the first drop test is successful, they will conduct the second drop test in the same way as the first one and raise the falling height to 1.5m.

Press test: This test simulates a scenario where the user may press the handset in use against a small object (such as a key) and verifies whether the handset is damaged.

Tumble test: Place the handset in it and randomly rotate the roller 75 times at a rotational speed of 3-5 times per minute (equivalent to tumbling from the 1m height 150 times). The four corners of the handset may be bruised to some degree, yet function failure shall not be allowed, and the ornament and shell shall not be detached or cracked. After the test, the handset will be disassembled to verify for signs of internal structural damage.

Rain test: Before conducting the rain test based on the IPX2 waterproofing grade (rainfall 60L/hour, known as moderate rain), they pitch the handset at a 75°angle to any of the four sides. After the test, they wipe the handset clean and verify whether all of the functions are normal. Then, they lay the handset aside for three days to ensure that the water inside the handset evaporates. Finally, they disassemble the handset to verify that the main board BTB and display screen are not corroded.

Salt spray test: They spray the moisture with the salt concentration of 5% onto the surface of the handset and store it in a hot and humid environment (55°C and 95%H). Later, they take the handset out and store it at normal temperature, making it exposed to air. Then, they conduct the complete inspection on the handset.

Environmental work: They place the phones into an extreme high-temp environment of 85℃ for 500 hours. After the test, the functions must be normal and the RF index parameters are within the specified range.

Sweat test: They will prepare artificial sweat, dip a piece of clean cloth in the artificial sweat and wrap the handset with the cloth. Then, they store the handset in a hot and humid environment (55°C and 95%H). 48 hours later, they take the handset out and verify it.

OPPO also tests the handset in various environments with daily necessaries such as drink, coffee, and floral water. The environments are closer to those where the handset is used.

SMT Centre:

Currently, there are 38 motherboard production lines and 25 small plate production lines. The production capacity of each month is 7.5 million motherboards and 25 million sub-boards. Besides, they also have 65 fully measuring and calibration.

After each machine, they have another machine to verify the products produced by the previous machine are qualified. In the mounting line, there are three automatic inspection procedure and one manual inspection procedure to guarantee the welding quality.

The production capacity of each test line is about 10,000 one day, which equals to 2.5 the production capacity of a manual test line.

Assembly Line Workshop of Factory M

The assembly line workshop for handsets is the place where particles of handsets are assembled to be finished products. Up to now, there are total 26 assembly lines in the assembly line workshop.

All the production lines in the assembly line workshop on the third floor are producing R11 and each production line can be divided into 2 segments: assembly segment and testing segment.

OPPO factory operates daily through one shift starting from 8:00 am till 11:00 pm, with two hours of break per day.

The post 38 production lines produce motherboards with each line producing 7.5 million devices monthly appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2017/08/23/38-production-lines-produce-motherboards-line-producing-7-5-million-devices-monthly/feed/ 0
Can Sakan Misr projects succeed in resolving housing price hikes? https://dailynewsegypt.com/2017/08/23/can-sakan-misr-projects-succeed-resolving-housing-price-hikes/ https://dailynewsegypt.com/2017/08/23/can-sakan-misr-projects-succeed-resolving-housing-price-hikes/#respond Wed, 23 Aug 2017 07:00:23 +0000 https://dailynewsegypt.com/?p=634595 The delivery of housing units to citizens will be within two years: official

The post Can Sakan Misr projects succeed in resolving housing price hikes? appeared first on Daily News Egypt.

]]>
The right to adequate housing is one of the most important human rights that enable one to have a decent life, produce, and benefit his country.

Historically, Egypt has suffered from a shortage of suitable housing units compared to the citizens’ low incomes. Hence, the Ministry of Housing decided to provide different housing products that suit all tastes and different incomes, whether social housing, middle-class housing, or luxury housing.

Offering 40,000 housing units, the new Sakan Misr housing project launched its initial phase in six cities to meet the needs of citizens of housing. The question is, can the government succeed in reducing the irrational prices of housing and meet the needs of citizens?

The sale of Sakan Misr’s conditions booklets started in the last week, reaching about 8,000 booklets on the first day.

The prices of real estate and apartments increased significantly during the last period by 50-150% in a number of areas, due to the economic reform measures, including the flotation of the pound and cutting fuel subsidies. These measures were aimed at decreasing the budget deficit and controlling inflation.

Daily News Egypt will review all details of the Sakan Misr housing project and explore the feasibility of the project to meet the needs of Egyptian citizens.

What do we know about Sakan Misr project?

The new project is part of the ministry’s special housing portfolio, which contains units with areas of 115 square metres, said Walid Abbas, deputy minister of housing for urban communities’ affairs.

He added that the project will be surrounded by a fence to ensure privacy, in addition to distinctive facilities in payment and competitive prices.

Abbas said that the project was aimed at resolving the escalating prices of housing units in Egypt, which witnessed a huge increase during the last period.

The official affirmed that his ministry offers housing units at suitable prices. For example, in New Cairo in the apartments, the Ministry of Housing sold a meter of land down by 60 to 70% compared to the private sector apartments.

The prices of real estate and apartments increased significantly during the last period by 50-150% in a number of areas, due to the economic reform measures

The projects’ locations and prices

Abbas said that the project’s six cities include New Cairo, 6th of October City, New Damietta, New Minya, Badr City, and Obour City.

He added that New Cairo has about 18,000 units, one of which will be sold at about EGP 5,000 per square metre, totaling EGP 575,000.

In 6th of October City, the price of land reached about EGP 15,000 per square metre, totaling about EGP 483,999.

In New Damietta, the ministry will offer about 2,000 units, and the price of apartments reached EGP 4,400 per square metre, totaling EGP 506,000.

In Obour City, the housing ministry will offer about 3,000 units, and the price of each square metre reached EGP 4,000, totaling EGP 460,000.

In New Minya, the housing ministry offered about 1,000 units, and the price of each square metre costs EGP 3,700, totaling EGP 425,500.

In Badr City, the ministry also offered about a 1,000 units, priced at EGP 4,000 per square metre, so that the price of the unit will reach EGP 460,000.

Abbas said that the minister assured that there is no need to contend or to worry about running out of conditions booklets, as there are instructions to extend the reservation period until 5 October through eight branches.

The bank’s branches will be open from 9 am to 5 pm in New Cairo, Nasr City, 6th of October City, Haram, and Badr City.

Madbouly added that the reservation can be done between 10 September and 5 October 2017 during the working hours of all the branches of the HDB. The applicants will deliver the reservation form and pay the down payment, which reflects the seriousness of the buyer.

Reservation Terms

Abbas said that to reserve a unit in this project, the applicant must be at least a 21-year-old Egyptian who has not previously purchased an apartment or a piece of land from the ministry. Finally, the family cannot apply for more than one unit.

Potential home buyers are requested to have no previous apartments within the housing project.

How will the citizen pay for the apartment?

Potential home buyers are requested to make a 10% down payment of the total cost of the unit, and the remaining amount could be paid in one of several payment methods.

Then the applicant will pay after winning should pay another 10% of the total price of the unit.

It will be followed by the payment of quarterly installments of EGP 10,000 for a year and a half, and another 10% when the applicant receives the apartment.

Abbas explained that the rest of the price will be paid according to two payment methods. The first method is to pay the rest of the price over five years without interest. The second payment method is to pay the remaining amount of the price over 15 years on the mortgage system with an interest rate of 8.5%.

Abbas revealed that the second and third floors of the project were completed.

Abbas noted that the Housing Ministry’s initiatives come to provide housing for citizens, whether through social housing or the Dar Misr or Sakan Misr projects, in order to eliminate slums.

The Dar Misr applicants are not entitled to apply for Sakan Misr

Tarek El Sebaei, deputy head of the new Urban Communities Authority for Commercial and Real Estate Affairs, said that the Dar Misr applicants are not entitled to apply for Sakan Misr.

El Sebaei added that item No. 3 of the conditions of booking in the booklet of the first stage units in the Sakan Misr project has been amended to require that the applicant obtaining an apartment in a housing project not have a housing unit in the Dar Misr project.

He further added that the housing units offered for sale are for residential use only, and the purchaser or his general or private successor are not entitled to change the purpose of the unit.

In case of violation, the real estate regulations of the authority shall be applied in this regard, with the termination of the contract without notice, warning, or the issuance of a judicial judgment and taking the legal procedures.

Hani Younis, a spokesman for the Ministry of Housing, Utilities, and Urban Communities, said that it is not necessary that the applicants live or work in the same city.

He explained that any citizen has the right to obtain a unit in any province, as long as the conditions apply.

The ministry will offer a 7% discount on the price of the unit in case of paying within two months.

The minister assured that there is no need to contend or worry about running out of conditions booklets, as there are instructions to print new ones in case the existing ones run out from the Housing Development Project.

Building more units is our weapon to fight speculators

Abbas said that his ministry is well aware of the speculators who exploit the state support to provide apartments with a very low profit margin for citizens.

He said that the old method of payment enables the speculator to win the apartment, which threatens the project’s objective that is to meet the housing needs of citizens.

He added that the ministry had put a ban on the sale of housing units only after a long period, but this move did not work. He added that the only solution is that the ministry should increase the new units to meet the demands of all citizens.

The deputy minister of housing said that his ministry is currently preparing to launch a new stage of the Dar Misr project, but he stressed that the work started in the project, noting that the prices of the coming units of Dar Misr will be higher compared to previous phases.

The post Can Sakan Misr projects succeed in resolving housing price hikes? appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2017/08/23/can-sakan-misr-projects-succeed-resolving-housing-price-hikes/feed/ 0
Minister Shoukry visits a country too small to be boring https://dailynewsegypt.com/2017/08/23/minister-shoukry-visits-country-small-boring/ https://dailynewsegypt.com/2017/08/23/minister-shoukry-visits-country-small-boring/#respond Wed, 23 Aug 2017 06:00:46 +0000 https://dailynewsegypt.com/?p=634574 Estonia ranks 12th on Doing Business Report

The post Minister Shoukry visits a country too small to be boring appeared first on Daily News Egypt.

]]>
Estonia, a small country in the Baltic region of Northern Europe, is the current president of the European Union. Although the country has gained its independence in 1918; the political and economic bilateral ties with Egypt has a long way to go.

The volume of trade between the two countries has been relatively small. Egypt mainly imports wood and wood products, cardboard and paper pulp; and exports paper and fruits to Estonia.

However, tourism offers an interesting prospect for the development of economic ties. According to the Embassy of Estonia in Egypt, in 2007; more than 50,000 Estonian tourists visited Egypt.

In March 2014, the Estonian Ministry of Economy and Communications and the Egyptian Ministry of Communications and Information Technology signed a Memorandum of Understanding on the IT cooperation between the two countries. Choosing Estonia for a major government project was nor a roll of a dice – since Estonia has of the world’s top IT sector. Some reports have even suggested that the small country of 1.3 million individuals, has the highest start-ups per capita in the world.

After a period of occupation by the Soviet Union, Estonia re-gained its independence in August 1991. With a long way for the new-born country to go, it has made some great leaps – it joined the NATO and the EU in 2004. Having to begin from scratch, the Estonian government decided to base its foundations on the IT sector, rather than relying on big buildings and major projects.

Through reliance on IT, Estonia manages to not need 300 meters of paper every month. By the end of each year, it saves an entire 2% of GDP and 800 years of handling paperwork, according to E-Estonia Showroom Managing Director, Anna Piperal.

From assigning children with homework at schools, through managing digital health data, to starting a company in a matter of few clicks – the E-Estonia is an example of what cooperation with the country could bring to Egypt’s similar automization programs.

Ambassador of Estonia Sander Soone has told Daily News Egypt in previous remarks that the Estonian experience can be scaled up to match a big country of 94 million people like Egypt. “Once you have the knowledge, you can use it for a small office or a big country,” he stressed.

The core concept of the E-Estonia program is to simply automate all government transactions. They say that in Estonia once can do anything with the e-card but selling a real estate and getting a divorce. The information is collected from citizens one time only and then used by the different government agencies to facilitate procedures for citizens and even residents. Anna Piperal explained the philosophy of the system saying that all governments collect data on citizens. “Here, however, we use the data to help our citizens.”

Such a sophisticated system does not only save citizens a few minutes every day, but it also provides business with a great environment. On the World Bank’s ease of doing business rankings; Estonia is seen on the 12th ranking (Egypt is ranked 122nd). Thanks to the electronic system, Estonia has also managed to eliminate the risk of corruption. According to the Business Bribery Risk Scores in 2016, Estonia appears on the third spot, ahead of countries like Denmark, Switzerland, and the United States.

The competitive advantages in Estonia does not only concern big companies, but it has also become a hotbed for start-ups.

According to the Economist Magazine, the roots of Estonia’s start-up culture were planted during the Soviet occupation. The magazine highlighted the experience of a once emerging company, Skype, whose co-founder Ahti Heinla learned programming from his parents who both worked at the Institute of Cybernetics. Now, the children of Estonia learn programming as part of the curriculum in many primary schools.

It does not stop there. As part of its EU presidency plan, Estonia incorporates promoting a Digital Europe and free flow of data in the region, said Director General of the Policy Planning Department at the Estonia Foreign Ministry, Rein Tammsaar.

Estonia might not a big market of Egyptian exports. It is also not a close neighbouring country. However, it does offer great experiences that could help build better future for Egyptians. Minister of Foreign Affairs Sven Mikser said that his government is also very eager to transfer its experience to the world. “If Estonia could do it, why can’t others do it?”

Egypt-Estonia trade (in millions EUR):

Import Export
2007 13,1 1,9
2008 19,9 2,4
2009 9,1 2,1
2010 46,7 1,8
2011 16,8 2,1
2012 17,1 2,1
2013 13,1 2,1
2014 12,6 2,6

The post Minister Shoukry visits a country too small to be boring appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2017/08/23/minister-shoukry-visits-country-small-boring/feed/ 0
Feast of Assumption of Mary celebrated in Egypt https://dailynewsegypt.com/2017/08/22/feast-assumption-mary-celebrated-egypt/ https://dailynewsegypt.com/2017/08/22/feast-assumption-mary-celebrated-egypt/#respond Tue, 22 Aug 2017 18:00:42 +0000 https://dailynewsegypt.com/?p=634609 Copts reported to take prayers to streets in Minya due to security situation

The post Feast of Assumption of Mary celebrated in Egypt appeared first on Daily News Egypt.

]]>
The Coptic Orthodox Church celebrated Tuesday the Feast of the Assumption of Mary across all Egyptian governorates. Processions through the street around The Holy Virgin Mary Monastery in Assiut took place on Tuesday eve, as well as prayers and celebrations across other churches and monasteries such as the Virgin Mary and Mar Youhanna Church in Sharqeya among others.

Meanwhile, The Copts-United website reported on Tuesday that prayers in a village in Abu Qirqas city in the governorate of Minya took place in the street after security forces closed the space for prayers, which is affiliated to the Minya Archbishopric on Sunday.

According to the website, Copts who weren’t allowed in by security forces voiced their anger of having their right to practise their rituals violated in submission to extremists. One citizen was reported to have said they prayed in the streets, and the police filed a report against them on accusations of “practising religious rituals without permission.”

On the other hand, the security narrative, as reported by news websites, was that the Copts were illegally using a residential place to do their prayers and that security interfered to protect them from any attacks. Some headlines read “security forces prevent sectarian strife in Minya.”

A security official, the head of Abu Qirqas city, was quoted to have said that some Muslim citizens objected to the Copts’ prayers inside a house on grounds of not having the licence to do so, adding that nobody was arrested, confirming the police report on “rituals without permission.”

Such pretexts have been used to trigger attacks on Copts, as Minya is one of the main governorates witnessing violence against them whether in sectarian strife or in terrorist attacks.

The last of these attacks was a shooting on a bus in the governorate on its way to Saint Samuel Monastery, killing more than 20 Copts, including children, which was claimed by the Islamic State (IS) group in May.

Earlier in April, the militant group claimed Palm Sunday attacks where suicide bombers detonated themselves in two churches, one in Minya and the other in Alexandria, leaving more than 40 people dead and hundreds injured.

Minya had also witnessed a series of sectarian attacks last summer, one particularly stirring public outrage and promises by President Abdel Fattah Al-Sisi to have the perpetrators held accountable. A Coptic 70-year-old woman was stripped off her clothes and dragged through the streets by an angry mob, in clashes that followed rumours of an ongoing affair between a Muslim and a Christian.

The incident took place in May 2016. More than a year later, 25 defendants saw their first trial session take place on Monday. The trial was postponed to December. Many of the defendants are not in custody and were previously released on bail pending trial.

Originally, authorities had closed the case for lack of evidence, but public figures had pressured and complained to the Prosecutor-General to reopen the case.

The post Feast of Assumption of Mary celebrated in Egypt appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2017/08/22/feast-assumption-mary-celebrated-egypt/feed/ 0
Police officer, 2 conscripts injured in North Sinai shooting https://dailynewsegypt.com/2017/08/22/police-officer-2-conscripts-injured-north-sinai-shooting/ https://dailynewsegypt.com/2017/08/22/police-officer-2-conscripts-injured-north-sinai-shooting/#respond Tue, 22 Aug 2017 18:00:07 +0000 https://dailynewsegypt.com/?p=634600 A policeman and two conscripts were shot by unknown assailants on Monday in the city of Al-Arish, according to local media. The victims were transferred to Al-Arish hospital. The Ministry of Interior has not published any statements on the incidents yet. Assassinations are common in Al-Arish. Those usually target police officers, conscripts, and state officials. …

The post Police officer, 2 conscripts injured in North Sinai shooting appeared first on Daily News Egypt.

]]>
A policeman and two conscripts were shot by unknown assailants on Monday in the city of Al-Arish, according to local media.

The victims were transferred to Al-Arish hospital. The Ministry of Interior has not published any statements on the incidents yet.

Assassinations are common in Al-Arish. Those usually target police officers, conscripts, and state officials. The most active militant group in the area is Sinai Province, which is affiliated to the Islamic State (IS), though no group has as of yet declared responsibility of the most recent attack.

Last week, two solders were killed by sniper fire in different areas in North Sinai. Sinai Province published last April a video that documented more than five alleged sniper operations against army solders on duty in different parts of North Sinai.

Since early July, the military intensified its “Martyr’s Right” operation after a suicide bomber stormed into the military post in the village of Rafah in North Sinai, killing and injuring at least 26 military personnel. The attack was claimed by Sinai Province.

The group, previously known as Ansar Beit Al-Maqdis, swore allegiance to the IS in 2014 and has launched deadly attacks on army and police checkpoints.

The Cairo Criminal Court designated the group as a terrorist organisation in 2015.

 

The post Police officer, 2 conscripts injured in North Sinai shooting appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2017/08/22/police-officer-2-conscripts-injured-north-sinai-shooting/feed/ 0
Arab League renews support of Palestinians against ‘Israeli violations’ https://dailynewsegypt.com/2017/08/22/arab-league-renews-support-palestinians-israeli-violations/ https://dailynewsegypt.com/2017/08/22/arab-league-renews-support-palestinians-israeli-violations/#respond Tue, 22 Aug 2017 17:45:16 +0000 https://dailynewsegypt.com/?p=634605 The statement cited the latest controversial decisions of installing security cameras 

The post Arab League renews support of Palestinians against ‘Israeli violations’ appeared first on Daily News Egypt.

]]>
The Arab League condemned on Monday what is described as violations against Palestinians by Israeli security forces, according to a statement. It called upon about the international committee and the UN to intervene to force Israel stop its acts of changing the status quo in Jerusalem

The organisation denounced attacks on Muslim and Christian holy places, and the continuous settlement projects the Israeli government is pursuing, as well as demolishing houses of Palestinian civilians and forceful displacing families.

The statement added that although the several international agreements which acknowledges the status of Jerusalem as an occupied city, and Al-Aqsa mosque is a area where Muslim worshipers have access to.

The statement cited the latest controversial decisions of installing security cameras and gates at the entrances of Al-Aqsa mosque that lead to bloody confrontations between worshipers and Israeli forces.” These are actions by the radical right wing Israeli government which is a sign of a racist strategy to fuel a war of religions.”

Last July, Israeli forces ordered the closure of the areas surrounding Al-Aqasa Mosque after three Palestinian gunmen opened fire and shot dead two Israeli policemen. Clashes continued for a week. Days after, Israeli forces re-opened the mosque, but the worshipers, as well as the Palestinian authorities, rejected the electronic gates. As an act of protest, several Palestinians performed the prayers outside the mosque. The dispute ended after Israel removed the gates.

During a former meeting in the Arab League, Arab foreign ministers asserted the importance of cooperation between the League of Arab States and the Islamic Cooperation Organisation to preserving Jerusalem and Al-Aqsa Mosque compound, calling on Muslim states and organisations to fund and implement development projects in vital sectors in Jerusalem and increase the amount of money of Al-Aqsa and Jerusalem to $400m.

In a different context, the Arab League welcomed on Monday, the trilateral meeting between the foreign ministers of Egypt, Jordan and Palestine that took place in Cairo on Saturday.

The post Arab League renews support of Palestinians against ‘Israeli violations’ appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2017/08/22/arab-league-renews-support-palestinians-israeli-violations/feed/ 0
Shoukry, Kaljulaid discusses bilateral relations, candidacy of Khattab to head UNESCO  https://dailynewsegypt.com/2017/08/22/shoukry-kaljulaid-discusses-bilateral-relations-candidacy-khattab-head-unesco/ https://dailynewsegypt.com/2017/08/22/shoukry-kaljulaid-discusses-bilateral-relations-candidacy-khattab-head-unesco/#respond Tue, 22 Aug 2017 17:25:53 +0000 https://dailynewsegypt.com/?p=634597 The meeting comes as part of Shoukry’s European tour to Russia, Estonia, and Lithuania

The post Shoukry, Kaljulaid discusses bilateral relations, candidacy of Khattab to head UNESCO  appeared first on Daily News Egypt.

]]>
Egypt’s Minister of Foreign Affairs Sameh Shoukry met Tuesday with the President of the Republic of Estonia Kersti Kaljulaid in the Estonian capital city Tallinn, and handed her over a letter from President Abdel Fattah Al-Sisi, the Ministry of Foreign Affairs spokesperson Ahmed Abu Zaid said in a statement.

The letter includes ways of boosting the bilateral relations between Egypt and Estonia, and the necessity of coordination between the two countries in international forums and in the European Union [EU]. According to the statement, Kaljulaid expressed her appreciation for the Egyptian pivotally role in boosting security and stability in the Middle East in contrast to the phenomena of terrorism.

Abu Zaid pointed out that the importance of the visit comes as Estonia is the president of the EU in the current round, and is a member in the executive council of the United Nations Educational, Scientific and Cultural Organization (UNESCO), in addition to Egypt’s keenness on developing its relations with the Baltic states which includes beside Estonia, Latvia and Lithuania.

Egypt is looking forward to build on the results of the results of the EU-Egypt Association Council 7th session in Brussels in late July. The session confirmed the broader engagement of the EU-Egypt relations based on the resumption of the bilateral Association Agreement structure in 2015 and on the joint priorities identified considering the revised European Neighbourhood Policy (ENP) as well as the “Sustainable Development Strategy: Egypt Vision 2030”, which will guide the dialogue and cooperation for the next three years.

The ministry spokesperson said that Shoukry held intensive meetings with the Estonian Minister of Foreign Affairs Sven Mikser and the head of the Committee of Foreign Affairs in the Estonian Parliament to discuss boosting cooperation on the bilateral level. He also stressed Egypt’s trust on Estonia’s leadership to the EU in the status quo which witnesses unprecedented challenges in all levels.

The meetings discussed several issues of common interest such as immigration, international security and confronting terrorism. Also, the candidacy of Moushira Khattab to head the UNESCO was discussed, and Shoukry pointed out that it is the time for an Arab person to take the position as an application of the fair alternation.

The post Shoukry, Kaljulaid discusses bilateral relations, candidacy of Khattab to head UNESCO  appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2017/08/22/shoukry-kaljulaid-discusses-bilateral-relations-candidacy-khattab-head-unesco/feed/ 0
Total acquires Maersk Oil for $7.45bn in share and debt transaction https://dailynewsegypt.com/2017/08/22/total-acquires-maersk-oil-7-45bn-share-debt-transaction/ https://dailynewsegypt.com/2017/08/22/total-acquires-maersk-oil-7-45bn-share-debt-transaction/#respond Tue, 22 Aug 2017 17:10:26 +0000 https://dailynewsegypt.com/?p=634593 Total company announced in a statement that its boards and A.P. Møller-Mærsk boards have approved Total acquisition of 100% of the equity of the E&P company Maersk Oil & Gas A/S (Maersk Oil), in the form of a debit and share transactions. Both boards agreed that This proposed transaction is subject to the applicable legally …

The post Total acquires Maersk Oil for $7.45bn in share and debt transaction appeared first on Daily News Egypt.

]]>
Total company announced in a statement that its boards and A.P. Møller-Mærsk boards have approved Total acquisition of 100% of the equity of the E&P company Maersk Oil & Gas A/S (Maersk Oil), in the form of a debit and share transactions.

Both boards agreed that This proposed transaction is subject to the applicable legally required consultation and notification processes for employee representatives and is subject also to the relevant regulatory authorities’ approvals.

The transaction is expected to end in the first quarter (Q1) of 2018.Total has also offered the possibility of a seat on its Board of Directors to the main shareholder of A.P. Møller-Mærsk, which is A.P. Møller Holding A/S.

 

Patrick Pouyanne, Total Chairperson and CEO said that “the combination of Maersk Oil’s North Western Europe businesses with our existing portfolio will position Total as the second operator in the North Sea with strong production profiles in UK, Norway and Denmark, thus will increase the exposure to conventional assets in OECD countries. Internationally, there is an excellent fit between Total and Maersk Oil’s businesses allowing for value accretion through commercial, operating and financial synergies in the US Gulf of Mexico, Algeria, East Africa, Kazakhstan and Angola.”

He added that this transaction will deepen and accelerate their announced strategy, which is to take advantage of the current market conditions and of their stronger balance sheet to add new resources in attractive conditions. So, Total is expected to become a 3 Mboe/d major by 2019.

Total is a global integrated energy producer and provider, a leading international oil and gas company and a major player in solar energy with Sun Power and Total Solar.

 

The post Total acquires Maersk Oil for $7.45bn in share and debt transaction appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2017/08/22/total-acquires-maersk-oil-7-45bn-share-debt-transaction/feed/ 0
Local, international institutions offer investing €734.9m in Egyptian T-bills https://dailynewsegypt.com/2017/08/22/local-international-institutions-offer-investing-e734-9m-egyptian-t-bills/ https://dailynewsegypt.com/2017/08/22/local-international-institutions-offer-investing-e734-9m-egyptian-t-bills/#respond Tue, 22 Aug 2017 17:00:51 +0000 https://dailynewsegypt.com/?p=634586 International banks have requested the renewal of a $2bn loan to Egypt for five years, says Amer

The post Local, international institutions offer investing €734.9m in Egyptian T-bills appeared first on Daily News Egypt.

]]>
Banks and international and local financial institutions offered to invest €734.9m in T-bills in a bid put forward by the Central Bank of Egypt (CBE) on Monday in euros.

The CBE is offering T-bills worth €650m on behalf of the Ministry of Finance. This is the first time euro denominated T-bills are offered this year.

The CBE said it received 29 offers to cover the bid totalling a total of €734.9m, of which it accepted 24 offers worth €659m.

The interest rate granted to investors in those bills range between 1.75% and 1.80%, with an average of 1.797%, compared to 2.3% and 2.28% in a similar bid offered on 15 November 2016.

According to the CBE, these bills were put forward to cover an older bid offered on 23 August 2016 worth €651.9m and due for repayment on Tuesday 22 August 2017.

The CBE added that the new bills will mature in one year, specifically on 21 August 2018.

The CBE offered T-bills in euros on 28 August 2012, and the first return granted by the Ministry of Finance on these bills amounted to 3.25%.

The CBE allows subscription to the bills in euros for local banks and foreign institutions with a minimum subscription of €100,000 and its multiples.

Banks subscribe to bills in euros in the same manner as local currency, where each bank submits its bid to the CBE, indicating the amount with which it will subscribe in bills and the interest rate demanded. These bids are collected at the CBE, and it will then consider them and accept the suitable ones.

Banks operating in the local market rely on these bills to invest their liquidity in euros safely with the government, with an appropriate yield, in light of the lack of other investments for such liquidity. Exceptions include rare syndicated loans, or investment in global capital markets, with a low yield and many risks.

In a related context, CBE Governor Tarek Amer said that Egypt repays its financial dues regularly on an annual basis, noting that there are funds that are naturally renewed, such as the currency exchange agreement with China and a $2bn loan from a number of international banks.

Amer said in remarks after the meeting of the Economic Group on Monday that international banks had requested to renew a $2bn loan for five years.

He pointed out that there are no arrears owed to foreign companies operating in Egypt, noting that the CBE received requests from several companies worth $160m and paid them immediately.

The post Local, international institutions offer investing €734.9m in Egyptian T-bills appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2017/08/22/local-international-institutions-offer-investing-e734-9m-egyptian-t-bills/feed/ 0