Daily News Egypt https://dailynewsegypt.com Egypt’s Only Daily Independent Newspaper In English Tue, 19 Mar 2019 13:30:39 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.1 Tyson starts shooting Egyptian film, co-starring Amr Saad https://dailynewsegypt.com/2019/03/19/tyson-starts-shooting-egyptian-film-co-starring-amr-saad/ https://dailynewsegypt.com/2019/03/19/tyson-starts-shooting-egyptian-film-co-starring-amr-saad/#respond Tue, 19 Mar 2019 13:30:39 +0000 https://www.dailynewsegypt.com/?p=693340 Heavyweight boxer was accompanied by film crew on his tour to Giza Plateau

The post Tyson starts shooting Egyptian film, co-starring Amr Saad appeared first on Daily News Egypt.

]]>
Impromptu moments of him riding a camel while roaming the pyramids holding his wife Kiki close by, with the sphinx’s giant bricks in the background–these were some of the pictures which introduced legendary Mike Tyson’s trip to Cairo.

The famous boxer landed in Egypt earlier this week, but it was not until Sunday night when the pictures were published announcing his arrival. 

Tyson came to participate in the Egyptian film ‘Hamlet Pharon’ (A Pharaoh’s Campaign), produced by Mohamed El Sobky, in which he will co-star alongside Amr Saad, and the young radiant female actress Ruby.

Shooting is scheduled to start on Tuesday. The film is written by Karim Hassan Bashir, and will be directed by Raouf Abd El Aziz.

‘Hamlet Pharon’ tells the story of Yehia (Amr Saad) who owns the largest, and most widespread assassins’ network in Egypt. Known as ‘Pharon’ (The Pharaoh), Yehia finds himself stuck in a long journey from Egypt to Syria in order to free his lover.

Tyson, 52, is a former professional boxer who competed from 1985 to 2005. He joined the international records when he won the record of the youngest boxer to hold the title of a heavyweight at 20-years-old.

Nicknamed ‘The Iron Man’, Tyson took part in a total of 58 fights in his professional career. Fifty of those he won, 44 being by knockout. In the fights he did not win, he officially lost six, and two fell into the category of no contest.

The heavyweight boxer was accompanied by some of the film crew on his tour to the Giza Plateau which was the first outing he started his short visit in Egypt with.

The film’s shooting period was not clearly announced. The film witnesses Tyson’s first participation ever in an Egyptian film. He also participated in few Hollywood films, including The Hangover, (2009), Ip Man 3, (2015,) and The Hangover Part II, (2011).

The post Tyson starts shooting Egyptian film, co-starring Amr Saad appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2019/03/19/tyson-starts-shooting-egyptian-film-co-starring-amr-saad/feed/ 0
Eighth D-CAF Festival to colour greyness of Cairo’s streets https://dailynewsegypt.com/2019/03/19/eighth-d-caf-festival-to-colour-greyness-of-cairos-streets/ https://dailynewsegypt.com/2019/03/19/eighth-d-caf-festival-to-colour-greyness-of-cairos-streets/#respond Tue, 19 Mar 2019 13:00:41 +0000 https://www.dailynewsegypt.com/?p=693331 Cultural festival will present first fully Egyptian street dance performance

The post Eighth D-CAF Festival to colour greyness of Cairo’s streets appeared first on Daily News Egypt.

]]>
For eight years in a row, the Downtown Contemporary Art Festival (D-CAF) is about to rock Egypt with its one-of-a-kind performances, bringing joy, fascination, and excitement from their homelands to their passionate followers in Egypt. 

With extreme selection of the performing troupes and individuals, D-CAF comes every year to present alternative theatrical productions, revolutionising the art scene with the performers’ work. This year’s edition runs from 29 March until 21 April.

Troupes from Hungary, Germany, France, the UK, and Egypt will come to take part in the international art festival with 10 performances spread over the days of the festival.

The programme will start with a sand and paint animation show by Quartzbox, with its members Daniel Cako and Aron Hidvegi from Hungary. The show will be presented at Maq’ad of Sultan Qaitbey, according to a press release published by D-CAF.

As for Danish art, it is presented through Dust, a play which won the Danish Art Council’s award in 2016. It combines adult puppetry design, performance, opera, and other genres.

France will fly over the borders to participate with the Assembly of Dreams, a performance by Duncan Ivennou, which will be presented on Rawabet Theatre from 3-4 April.

Egypt will have a surprising and a breathtaking participation through a street dance performance, which will take place at El-Sharefein street by contemporary dancer Shaymaa Shoukry. The dance is planned to take part on 12 April. Noteworthy, this is the first Egyptian dance show to be performed by people with disabilities.

This will be the first “100% Egyptian [performance],” Ahmed ElAttar, D-CAF’s artistic director, stated in the press release, explaining that “Usually, the shows which include people with disabilities used to be choreographed by foreign coaches, but this time, all the participants are Egyptian.”

The Egyptian participation continues with Without Damage, an interactive dance performance by Mohamed Fouad, who took part at the festival twice, with this being the second year in a row.

Without Damage is an interactive play, where the audience are asked to join the stage at various points of the play. Daily News Egypt attended one of its shows last year, wondering how the Egyptian audience would receive such an art which they are not used to–or even anything close to it. Surprisingly, it was received incredibly well, with attendees participating in the different parts of the show and some of the audience lined up to watch Without Damage on its second day, which was sold out, so people waited for the break to see if someone would leave so they could join.

For dance lovers, another remarkable experience with Dancer Casa by Mourad Merzouki and Kader Atto, who was appointed as ‘Chevalier de l’Ordre National de la Legion d’Honneur’ (Knight of the French Legion of Honour) in 2015.

The dancing piece conveys the burning desire of its young dancers. Featuring captivating music and breathtaking choreographies, the performance captures every aspect of humanity, with its contradictions and complexities, through an infectious and an overwhelming lust for life. The vital energy delivered to the audience is the intense emotion of Moroccan youth. Dancer Casa will be performed at the Falaki Theatre, according to the press release.

Crazy but True is another interactive installation performance by the Bessie-award winners, Ant Hampton, which will be performed at the Tamara Building. Attar noted that this performance is “a very unique experience for an interactive performance as it does not take place in a traditional setting and it features local children talking to an adult audience in total flexibility where the audience moves freely.”

The post Eighth D-CAF Festival to colour greyness of Cairo’s streets appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2019/03/19/eighth-d-caf-festival-to-colour-greyness-of-cairos-streets/feed/ 0
Egyptian Museum celebrates women’s month by displaying two rare statues https://dailynewsegypt.com/2019/03/19/egyptian-museum-celebrates-womens-month-by-displaying-two-rare-statues/ https://dailynewsegypt.com/2019/03/19/egyptian-museum-celebrates-womens-month-by-displaying-two-rare-statues/#respond Tue, 19 Mar 2019 12:30:07 +0000 https://www.dailynewsegypt.com/?p=693336 Statues depict Shepenwepet II, daughter of King Piye, who was called ‘God's wife of Amun’

The post Egyptian Museum celebrates women’s month by displaying two rare statues appeared first on Daily News Egypt.

]]>
The start of the week marks two newly showcased artefacts at the currently most visited antiquities hub–Tahrir’s Egyptian Museum. This week’s displayed relics celebrate women’s empowerment month through the statues of Shepenwepet II, a high ranked female from the 25th Dynasty.

The statues, depicting Shepenwepet II, are displayed as a part of the Minister of Antiquities’, Khaled Anany’s plan to feature two of the major relics stored at the museum on a weekly basis. This comes after the transfer of a large number of antiquities into the Grand Egyptian Museum.

Shepenwepet II was the daughter of King Piye. She was called ‘God’s wife of Amun,’ which was a high position during the late period, according to a press release published by the ministry of antiquities on Sunday.

The daughter of the king, who lived from 743-712 BC, is currently being showcased at the entrance of the museum for a week.

The first statue was found in the mortuary temple of Ramesses III at Medinet Habu in Luxor. The gilded schist statue presents the lady Shepenwepet II standing proudly. Meanwhile the second statue is a basalt forepart of a sphinx of Shepenwepet II holding a ram-headed vase. It was found in a Karnak cachette and excavated by Georges Legrain for the Egyptian Antiquities Service in 1904.

The post Egyptian Museum celebrates women’s month by displaying two rare statues appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2019/03/19/egyptian-museum-celebrates-womens-month-by-displaying-two-rare-statues/feed/ 0
Repercussions of Bouteflika’s decision to abstain from running for elections remain vague https://dailynewsegypt.com/2019/03/19/repercussions-of-bouteflikas-decision-to-abstain-from-running-for-elections-remain-vague/ https://dailynewsegypt.com/2019/03/19/repercussions-of-bouteflikas-decision-to-abstain-from-running-for-elections-remain-vague/#respond Tue, 19 Mar 2019 12:00:27 +0000 https://www.dailynewsegypt.com/?p=693329 New Algerian Prime Minister Bedoui reportedly began talks to form new government

The post Repercussions of Bouteflika’s decision to abstain from running for elections remain vague appeared first on Daily News Egypt.

]]>
While the Algerian newly-appointed Prime Minister Noureddine Bedoui has started talks to form a new government, which appears to be the latest move to appease protesters, experts cannot still expect certain repercussions for the decision of Algerian President Abdelaziz Bouteflika’s withdrawal to run for a fifth term.

Last week, the 82-year-old wheelchair-bound leader announced he will not run for a fifth term and will postpone the presidential elections, which were due to be held in April.

Noureddine Bedoui was appointed as prime minister last week after his predecessor Ahmed Ouyahia resigned in the wake of the mass protests. As Bedoui reportedly began working on the new government, prominent opposition leader Abderrazak Makri called on Bouteflika and the ruling elite to step down.

“The gang [the ruling authority] has refused to respond to the Algerian people until today and this moment. It has to listen to the voice of the street and implement what it wants,” said Makri, the head of the Islamist Movement for the Society of Peace, in an online statement last week.

Bedoui is a close ally of Bouteflika’s and has been tasked with bringing about political reforms until new presidential elections are held.  His government is also expected to organise a national conference, but no dates have been given for either the elections or the conference.

Views of foreign writers varied, as some of them believed that the decisions of Bouteflika turned a page from the history of modern Algeria, where the country will choose its successor, while some considered the step as ‘half a victory’ due to the street mobilisation.

Moreover, others questioned the move, saying it was to “gain time, and to give an opportunity in order to ensure the continuity of the ruling regime, but differently, through a respected figure who should know how to deal with the new balances.”

Writer Abdullah Raqdi at the London-based newspaper Raialyoum said that the engagement of the Algerian people was “a declaration of a new dawn for a society that decided to put an end to the path of decline and failure made by the current regime.”

Journalist Gihad El-Khazen said that, “Perhaps the demonstrations of hundreds of Algerians, and the scenes of millions of Algerians who filled the capital, among others, convinced the Algerian President not to continue in his position, or maybe the Algerian army realised that it should not stand against its citizens. It is important now that a page of Algeria’s modern history will unfold within weeks, and the country will choose a successor to Bouteflika.”

Prominent Yemeni journalist Sadek Nasher said Bouteflika’s decisions “have defused a deep crisis in the country, although they were unable to end it completely because many political parties continue to question its goal, but ultimately putting Algeria before political and social entitlements, and even a new constitution would completely change the face of the country in the coming decades.”

The writer warns that the widespread rejections of the step presented by the president “lends the next phase many concerns and fears, especially since Bouteflika’s supporters see the rejections as constitutional violations, and deliberate the extension of the current presidential mandate of Bouteflika,” which means that the crisis is still in place.

Earlier in February, President Bouteflika announced his intention to run for a fifth term in the upcoming elections scheduled in April.  His supporters believe that the leader is ‘mentally and intellectually’ capable of running the country.  However, since suffering from a stroke in 2013, he has rarely been seen in public and does not travel around the country or abroad–except for medical treatment.

Thousands of Algerians demonstrated in several cities across the country against the Algerian President Bouteflika’s declaration that he will run in the coming presidential election seeking a fifth presidential term.

The protesters were chanting against Bouteflika with slogans such as “No for fifth term,” and “No for Bouteflika,” as they waved the Algerian flag. They also clashed with the security forces who were intensively deployed in the capital’s main squares as well as major cities.

The protesters also chanted against Saeed Bouteflika, the younger brother of the Algerian President, who currently acts as his adviser, as well as Prime Minister Ahmed Ouyahia, and they called for his dismissal.

Security forces responded with tear gas and cordoned off the May 1 Square in the capital Algiers, and prevented protesters from entering it. Algeria’s authorities have banned demonstrations in the capital city since 2001.

These protests were the largest in Algeria since 2001. Despite intensive security measures in Algiers, calls to protest against Bouteflika’s presidential candidacy succeeded to attract thousands of citizens after opposition political parties called for marches outside the capital. Security forces have been actively restricting the protesters’ movements, blocking their roads, and dispersing gatherings.

Kada Ben Amar, Algerian writer for the daily newspaper Echourouk, said that what was achieved after Bouteflika’s letter was “half a victory, which dropped the fifth oath which was not logical at all.” The president himself admitted that he did not want to run from the beginning, but at the same time, this came to contain the anger of the street and invest in Algeria’s peace in order to direct the country and the people toward a genuine change, as the archaic faces no longer have a place nor role in it.

Ben Amar stated, “The time has come for everyone to raise their voices of reason, including the street which began to resort to the elites, perhaps to find someone who deserves to speak and negotiate in their names in the next stage.”

“The language of reason in this matter is to accept the principle of dialogue on the foundations of the new Algerian political system, and decide on who will be in charge of steering the ship, as well as how to set a realistic calendar which will determine the way to prepare a constitution based on the new republic and then to adopt it,” he said, adding, “This is the plan of action for the next phase.”

This comes as some writers doubt Bouteflika’s recent decisions. Khairallah Khairallah from the London-based Al Arab newspaper says that it is clear that “the goal of the narrow circle surrounding Bouteflika is to gain time to plan.”

“It simply means that members of this narrow circle want Bouteflika to remain president, even if they are right, until the end of the year,” he said, adding, “In any case, the unknown title of Algeria’s current phase after the Bouteflika page, will remain.”

The writer refers to the need for “a new system in which the beginning is to recognise that Algeria is a third world country, and it needs a different system which rearranges priorities, including attention to what the average citizen wants and needs.”

In the same context, writer Al-Habib Al-Aswad says that President Bouteflika, in his decisions, “wanted a deadline to rearrange the papers again, giving them and those around them an opportunity to ensure continuity, but differently, through a respected figure who knows how to deal with balances.”

Writer Tawfiq Rabahi said the ruling regime in Algeria “cannot leave the political and electoral game open to the unknown.” He added that the participation of what he described as “false witnesses” in the upcoming presidential elections, “gives the regime a new legitimacy of another four years.”

The post Repercussions of Bouteflika’s decision to abstain from running for elections remain vague appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2019/03/19/repercussions-of-bouteflikas-decision-to-abstain-from-running-for-elections-remain-vague/feed/ 0
Fifty years of African films at FESPACO https://dailynewsegypt.com/2019/03/19/fifty-years-of-african-films-at-fespaco/ https://dailynewsegypt.com/2019/03/19/fifty-years-of-african-films-at-fespaco/#respond Tue, 19 Mar 2019 11:30:48 +0000 https://www.dailynewsegypt.com/?p=693319 Evolution of African cinema after its first festival in Burkina Faso in February 1969

The post Fifty years of African films at FESPACO appeared first on Daily News Egypt.

]]>
The biennial pan-African FESPACO film and television festival of Ouagadougou, which has been one of the most important platforms for African filmmakers for years, celebrated its 50th anniversary in February.

FESPACO was founded in 1969 in Ouagadougou, the capital city of Upper Volta, which became Burkina Faso in 1984. Formerly the capital of the Mossi Empire, Ouagadougou has been transformed throughout centuries into a cosmopolitan megalopolis, whose current dynamism and creativity create its charm and notoriety. Ouagadougou is the ultimate repository of the memory of African cinema. As such, it is the only city in the world with a ‘Filmmakers’ Square,’ where each edition of the festival is punctuated by a ceremony held in memory of filmmakers who passed away. The ceremony brings together film professionals and festival-goers from all over the world. At this square is the ‘Filmmakers’ Avenue,’ starting with a statue of famous Senegalese director, Sembène Ousmane.

The oldest and most important film festival on the African continent celebrated its golden 50th anniversary this year.

As is usually the case, the 26th edition of the festival, which began on February 23 in Ouagadougou, the capital of Burkina Faso, was opened with a fanfare. Horses were an integral part of the festival: the jury’s main prize was l’Étalon d’Or de Yennenga–the golden stallion named after a mythical princess.

African film buffs founded the festival in the capital of the then state of Upper Volta. To date, 2,140 films have been shown there and 160 prizes have been awarded. Since 1987, the monumental film reels on the ‘Place des Cineastes’ testify to Ouagadougou’s status as the capital of African cinema.

However, it must be said that African cinema was influenced by former colonial powers. As the francophone west Africa’s Ousmane Sembène went down in history as a pioneering African director. Originally a novelist, Sembène saw film as a medium for the masses, capable of reaching the illiterate. But the worldwide distribution of African movies remains a problem for the continent’s filmmakers.

“Passion, cultural, political, and historical claim, pan-African character, commitment and faith, desire and aspiration, as well as determination, all contributed to building, shaping, nurturing and developing the festival,” according to a press release from the festival.

Also, from the very beginning, African cinema has also had a political mission: to overcome the cultural domination of European colonial states and to oppose it with figures whom Africans can identify. Med Hondo’s film Sarraounia tells the story of a ruler who opposed French colonisation. It was awarded l’Étalon d’Or in 1987.

Despite that, Africa’s directors have also successfully tackled recent history. In Drum, Zola Maseko examines the life and work of journalists in the township of Sophiatown under South Africa’s apartheid regime. He received an award in 2005 as the first South African and only second Anglophone filmmaker–a breakthrough. In the following years, the main prize went to Nigeria and Ethiopia.

Others have also had to fight their way to recognition. It was not until 2010 that female filmmakers came into the spotlight. They have their own annual festival which also coincides with FESPACO. In Frontières, Naky Sy Savané played an Ivorian woman who smuggles textiles to finance her children’s studies.

The film festival held in this city has embodied and continues to embody the dream: that of passionate women and men driven by the lack of images and stories which Africans from the continent and the diaspora can identify with, while forging self-awareness, the festival said in a press release.

The relationship to the rest of the world remains ambiguous. Filmmakers from the African diaspora were only invited starting in 1987. It took until 2015 for them to be allowed to win the main prize. And few African directors have achieved fame abroad. Abderrahmane Sissako was the first African to win the French film award César with Timbuktu in 2015.

The festival’s ambition has always been and remains to provide a space for the confrontation of imaginations and talents, a space for sharing and building not only a memory, but also a present and a future, the press release added.

The country in the Sahel zone was spared terror for a long time. The shock was all the greater when in 2016, the Hotel Splendid — popular among the festival’s VIPs — became the target of an Islamist attack. The presence of international stars could turn FESPACO itself into a target. The following year, security was greatly increased.

Digital films have been admitted into the competition since 2015. But they had to overcome yet another hurdle: initially, all digital films had to be converted in an expensive process. There is not much of a paying public for African films, and directors do not have the support of television companies. To this day, the African film industry is dependent on outside support.

The diverse symposiums, conferences, round tables, and professional workshops organised by the festival since its inception have undoubtedly contributed toward advancing theoretical reflection and updating strategic solutions for the development of cinemas from Africa and the diaspora.

The festival also served as a screen for Afro-pessimism-the resignation of intellectuals-disillusionment and disenchantment; disasters induced by measures dictated by the Bretton Woods institutions; the unacceptable deterioration in the terms of trade; the looting of African mining resources; wars waged by external actors; the tragedy of migration to the west; land grabbing; violent extremism; religious radicalism; the birth of the African Union; non-violent practices; the anti-imperialist struggle; the fall of apartheid; the non-aligned movement; the revolt of peoples and the wind of democracy; the fight against corruption; the release of Nelson Mandela; Afro-futurism, and the desire and fight for Africa’s renaissance.

The post Fifty years of African films at FESPACO appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2019/03/19/fifty-years-of-african-films-at-fespaco/feed/ 0
Gao, The Resistance of a People https://dailynewsegypt.com/2019/03/19/gao-the-resistance-of-a-people/ https://dailynewsegypt.com/2019/03/19/gao-the-resistance-of-a-people/#respond Tue, 19 Mar 2019 11:00:32 +0000 https://www.dailynewsegypt.com/?p=693320 Giving people voices to tell their independence stories unscripted

The post Gao, The Resistance of a People appeared first on Daily News Egypt.

]]>
“By Your Call Mali” chanted dozens of locals in the city of Gao in northern Mali as they prepared to stage night patrols to defy the rule of the jihadist groups who took control of the city after they defeated the separatists. Kassim Sanogo, in his documentary film Gao, The Resistance of a People, visits Gao and meets with the people who participated in the independence of the city from the ‘occupation’ of the jihadists.

Before the film credits, the director gives a context by introducing the conflicting sides in the civil war, which a great chapter of it concluded when the jihadists drove the rebels outside of Gao. After the rebels established their power in Gao, the mistreatment and the radical approach of the jihadists started to alienate the local community, until they started a struggle for liberation. The militias which were found to take on the jihadists were not professional soldiers. Nevertheless, he interviews mundane locals, men, women, and young people who felt that their previous alliance with the Islamists was not working.

The interviews that Sanogo conducts are very similar to any interviews done in any area where radical Islamists have passed: banning women from going out, forcing a certain dress code, applying laws that date back to the 7th century, or attempting to destroy cultural heritage, and in this sense the film is relevant to an international audience.

Sanogo visits Gao to see what the reason for the rebellion was. He interviews several individuals who discuss the imposition of Islamic Sharia Law on people and on women. He then starts to meet with the men and women who participate in patrols which were able to drive away the jihadists from Gao.


In the film, it is clear that full agency is given to the people, where they admit that, at first, they sided with the Islamists, but then they started to become alienated from them, which drove them to rebel. Hence the people here are the writers of their own history, and Sanago is only a tool to document this. His film, which is 54 minutes long, documents this resistance by the population of Gao.

Gao, The Resistance of a People, does not fall into the trap of focusing on what happened and ignoring what can possibly take place in the future, so he goes to meet the elder’s council which is now in control of the city and is its decision-making body. 

The film ought to act as facilitator of national dialogue between north and south Mali as both know the history of the war-torn country, but for an international audience more context is needed.

However, the documentary is very nationalistic, and includes copious rhetoric about patriotism, as well as argues that all people in northern Mali are the same regarding their political sensibilities and their material interests and agendas–which is problematic. The documentary is very enriching when it comes to explaining what happened during the conflict, but does not give context to what is the origin behind this conflict, regarding the interests of different classes, disputes among Islamist groups following the Arab Spring, or the role, or lack thereof, of southern Mali, and finally the position of the west from all of this. The last point is crucial as Mali was colonialised by France and now around 4,500 French troops are coming as ‘saviours’ to help the locals.

Having said that, the film is important because it tells the story of people who, voluntarily, take to the streets to protect their interests. Yes, nationalism is there, but it is still a story that celebrates human solidarity, and also because violence by jihadist groups has worsened almost every year since it first exploded in 2012, when Islamists and allied Tuareg rebels took over the north and advanced toward the capital Bamako.

The post Gao, The Resistance of a People appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2019/03/19/gao-the-resistance-of-a-people/feed/ 0
Urgent comprehensive strategy needed for Egyptian industry: GB https://dailynewsegypt.com/2019/03/19/urgent-comprehensive-strategy-needed-for-egyptian-industry-gb/ https://dailynewsegypt.com/2019/03/19/urgent-comprehensive-strategy-needed-for-egyptian-industry-gb/#respond Tue, 19 Mar 2019 10:30:48 +0000 https://www.dailynewsegypt.com/?p=693259 Egypt does not benefit from current industries

The post Urgent comprehensive strategy needed for Egyptian industry: GB appeared first on Daily News Egypt.

]]>
Using imported equipment for local manufacturing does not add value to the Egyptian industry. Egypt should focus on manufacturing its local products using Egyptian equipment and machinery, even if this equipment is primitive, said Effat Megaly, managing director of GB for Heavy Vehicles Industries and Construction Equipment Trading, a subsidiary of Ghabbour Group.

He highlighted the need for the state to invest in human resources and develop a comprehensive strategy for the Egyptian industry. He also emphasised his respect to the minister of industry’s vision regarding the development of local industry, but the presence of foreign partners in Egyptian factories will not benefit the local industry. “After all, the equipment belongs to the foreign company,” Megaly said.

“For example, if we established a factory specialised in producing auto lamps, it can supply several automotive companies. The road toward achieving industrial renaissance, especially in the field of automotive industry, relies on feeder industries. There should be Egyptian experts in the technical know-how. This mean that we should encourage scientific research and patents. Also, the ministry of trade and industry should facilitate the opening of new factories too,” he added.

Additionally, he praised the energy projects that have been established during the recent period.

Heavy equipment industries to flourish soon

Heavy equipment market is witnessing a sharp decline due to the market saturation in the last three years with the launch of several national projects. However, Megaly said the market will improve again in the coming three years as more national projects, especially in Sinai, are expected.

The second-hand market will decline significantly in this period, as the government prefers new equipment in the national projects.

In addition, the private sector has begun to replace its heavy vehicles, especially after building a new network of roads over the past years, which was a great move that requires good heavy vehicles. Most of the local companies are currently replacing its old vehicles, some of which dates back to the 1980s. About 70-80% prefer the second-hand equipment, which weighs on the new equipment market.

The currency exchange rate certainly affected sales of heavy equipment like any other field, as prices doubled over night, but the market remains promising.

Megaly noted that the last year witnessed the arrival of at least 100 used heavy construction equipment and 2,000-2,500 used trucks.

He refuted the rumours about monopolization in the heavy equipment market, stressing that the market is open for competition. “Nobody can have a high profit margin or monopolize selling certain commodities. There are no hidden agreements between traders either,” he stressed.

We target selling 60 heavy equipment in 2019

According to Megaly, GB for Heavy Vehicles Industries and Construction Equipment Trading targets sales of 60 heavy equipment by the end of the year. The company sold 30 units in 2017 and 2018 each, and 28 units in 2016. The year 2016 was the luckiest for the company, as it was established early that year and started operations by the middle of the year, which means it made high sales in a record time.

The company relies on importing heavy equipment to ensure high quality.

The company also choose brands carefully. For example, in trucks; the company relies on Mercedes, Iveco, Volvo, Scania AB, and Germany’s MAN SE, as the Egyptian market prefers Mercedes, which has service centres around the country and is more familiar to technicians.

For construction equipment, the company deals with Caterpillar, Volvo, and Komatsu.

He added that the company does not intends to contract with new construction equipment or heavy vehicle companies, because most of the good brands have dealerships in Egypt already. The company prefers dealing with trustworthy brands.

The company is currently planning to expand in the southern African countries, especially with the expansion of urban development in these countries, and the heavy need for heavy equipment, and is currently studying the political and economic conditions of those countries.

The company does not currently provide a guarantee for the equipment sold, but it helps its customers when there is any problem even after the completion of the sale. It uses its service centre in this regard, which relies on trained technicians.

The performance and quality of the used heavy equipment depends on the efficiency of the equipment and its condition. The operators must have the required technical education to use the equipment correctly in addition to maintaining them on time.

Difficult operation conditions also affect the life time of the equipment. High-temperature also affect the life time of equipment, so they perform better in Europe and America than in the UAE or Egypt. The company imports its equipment from certain countries, such as Germany, Belgium, and the Netherlands.

China has strong and good equipment, but the local workers lacks good culture, despite their commitment. The German workers are the best in the world in Megaly’s opinion.

The post Urgent comprehensive strategy needed for Egyptian industry: GB appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2019/03/19/urgent-comprehensive-strategy-needed-for-egyptian-industry-gb/feed/ 0
Geyushi Motors test-drives FAW X40 for first time in Egypt https://dailynewsegypt.com/2019/03/19/geyushi-motors-test-drives-faw-x40-for-first-time-in-egypt/ https://dailynewsegypt.com/2019/03/19/geyushi-motors-test-drives-faw-x40-for-first-time-in-egypt/#respond Tue, 19 Mar 2019 10:00:44 +0000 https://www.dailynewsegypt.com/?p=693250 Company plans to export FAW cars to Africa, Middle East

The post Geyushi Motors test-drives FAW X40 for first time in Egypt appeared first on Daily News Egypt.

]]>
Geyushi Motors, the exclusive distributor of FAW cars in Egypt, conducted a test-drive for the latest FAW X40 model in Obour City, which was attended by representatives of media organisations, distributors, and FAW customers.

Khaled Geyushi, the vice chairperson and managing director of Geyushi Motors, said that the company introduced three passenger cars for different needs: B50, B30, and X40, in addition to three trucks. He said that the company will introduce more models in the coming period, after obtaining the assembly rights for FAW in Egypt.

He also noted that the company has plans to export FAW vehicles to Africa and the Middle East.

The vice chairperson added that the company is in race against time to develop and provide competitive products to the Egyptian consumer, and is working to increase FAW’s market share in Egypt in order to satisfy all the company’s customers.

Geyushi Motors is working hard to meet the needs of the Egyptian market, in addition to contributing to the development of the auto market in particular, and the Egyptian economy in general.

The Chairperson of Geyushi Motors, Mohy El Din Geyushi, said that the company signed a strategic cooperation protocol and an exclusive dealership with FAW, not only to sell the company’s models in Egypt, but also to assemble and manufacture cars.

Noteworthy, a factory for assembling FAW in Egypt will soon be launched to turn the company from a distributor into a manufacturer and trader. The company has conducted all the necessary feasibility studies.

Furthermore, Geyushi thanked FAW distributors in Egypt and the customers for their trust. He said that FAW’s distribution network is the largest, as there are 18 distributors covering 25 areas around Egypt.

The post Geyushi Motors test-drives FAW X40 for first time in Egypt appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2019/03/19/geyushi-motors-test-drives-faw-x40-for-first-time-in-egypt/feed/ 0
El Masria Auto opens Subaru service centre in Abu Rawash https://dailynewsegypt.com/2019/03/19/el-masria-auto-opens-subaru-service-centre-in-abu-rawash/ https://dailynewsegypt.com/2019/03/19/el-masria-auto-opens-subaru-service-centre-in-abu-rawash/#respond Tue, 19 Mar 2019 09:30:54 +0000 https://www.dailynewsegypt.com/?p=693253 El Masria Auto inaugurated a new service centre for Subaru cars in the Abu Rawash Industrial Zone, in cooperation with Abou Ghaly Motors, the exclusive dealer and distributor of Subaru in Egypt. The new centre covers an area of 11,000 sqm, enough to receive 100 cars per day, through three main departments: sales, after-sales service, …

The post El Masria Auto opens Subaru service centre in Abu Rawash appeared first on Daily News Egypt.

]]>
El Masria Auto inaugurated a new service centre for Subaru cars in the Abu Rawash Industrial Zone, in cooperation with Abou Ghaly Motors, the exclusive dealer and distributor of Subaru in Egypt.

The new centre covers an area of 11,000 sqm, enough to receive 100 cars per day, through three main departments: sales, after-sales service, and spare parts, as well as customer service management.

The centre has several service points, such as full maintenance; repair of external body, motor repair, and body painting.

The opening ceremony was attended by the Chairperson of El Masria Auto, Mohamed Rayan; the Managing Director and CEO of Abou Ghaly Motors Group, Mohamed Abou Ghaly; the Vice Chairperson of El Masria Auto, Mai Ryan; the Commercial Manager of Abou Ghaly Motors, Tamer Qotb; and the General Manager of El Masria Auto, Ahmed El-Deeb,.

“The new centre comes within the framework of El Masria Auto’s strategy to expand in car maintenance services of all types due to frequent customer complaints owing to the lack of service centres. We also have a long-term plan to establish several service centres for the world’s largest brands, as we aim to reach out to clients throughout Egypt,” said Rayan.

He added that the centre is the second of its kind for El Masria Auto following the Hurghada service centre. It aims to serve the company’s customers in Giza and Alexandria. He pointed out that investments in both centres amounted to EGP 100m. El Masria Auto plans to open another service centre in the Fifth Settlement in New Cairo.

Furthermore, Rayan announced a 10% discount on spare parts for Subaru and maintenance for a month at El Masria Auto’s centres.

As for Abou Ghaly, he said, “The new centre is the result of fruitful and strategic cooperation with El Masria Auto. We aim to provide after-sales service through our centres and partners so that Subaru users can easily maintain their cars whenever and wherever they are.”

The post El Masria Auto opens Subaru service centre in Abu Rawash appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2019/03/19/el-masria-auto-opens-subaru-service-centre-in-abu-rawash/feed/ 0
Pyramids Developments records EGP 600m in sales of Grand Square mall https://dailynewsegypt.com/2019/03/19/pyramids-developments-records-egp-600m-in-sales-of-grand-square-mall/ https://dailynewsegypt.com/2019/03/19/pyramids-developments-records-egp-600m-in-sales-of-grand-square-mall/#respond Tue, 19 Mar 2019 09:00:52 +0000 https://www.dailynewsegypt.com/?p=693244 Company intends to begin construction works in 2 new projects in H2 of 2019, says chairperson

The post Pyramids Developments records EGP 600m in sales of Grand Square mall appeared first on Daily News Egypt.

]]>
Pyramids Developments has recorded EGP 700m in sales of the Grand Square mall in the New Administrative Capital (NAC), according to Hesham El Khouly, chairperson of the company.

El Khouly said that the Grand Square mall is the first mall with commercial, administrative, and medical units in the central business district (CBD) in the NAC with total investments estimated at EGP 750m.

During celebrations of the 20th anniversary of its existence in the real estate market last week, El Khouly revealed that the company targets achieving EGP 1.5bn in sales of the mall in 2019.

He added that the mall spans over 7,800 sqm and will be completed and fully delivered by the end of 2020, according to the plan set by the Administrative Capital for Urban Development (ACUD).

“The company intends to begin construction works in two new projects in the second half (H2) of 2019. The first is an international tourist project in a French-Spanish partnership on an area of ​​165 feddan, and the second is a tourism project in 265 km in the North Coast on an area of ​​225 feddan,” he revealed. “Additionally, the company has completed the construction of a model school in the city of Mahalla, Gharbeya governorate, in addition to the construction of two international schools in the NAC, the first is on an area of ​​9,665 sqm in the R3 district and the second is on an area of ​​8,500 sqm on the Green River.”

He added further that the company is currently considering the development of another residential project in the NAC in the ​​R8 district to become its second real estate project in the NAC after the La Capitale project in the R7 neighbourhood.

Moreover, the chairperson of the company pointed out that Pyramids Developments has launched its largest cultural project inside the Grand Square mall, which is the first academy for all kinds of arts, in partnership with Egyptian artist Ashraf Abdel Baki, noting that the company has allocated the seventh floor of the mall to the academy.

He also announced the company is preparing to build its second commercial-administrative-medical mall in the CBD in the NAC. The mall will comprise of the first and largest mobile theatre to complement the Academy of Arts project, which has been agreed upon within the Grand Square mall.

The post Pyramids Developments records EGP 600m in sales of Grand Square mall appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2019/03/19/pyramids-developments-records-egp-600m-in-sales-of-grand-square-mall/feed/ 0
Metallurgical Holding Company, NUCA sign cooperation protocol to develop 1m sqm land plot in New Cairo https://dailynewsegypt.com/2019/03/19/metallurgical-holding-company-nuca-sign-cooperation-protocol-to-develop-1m-sqm-land-plot-in-new-cairo/ https://dailynewsegypt.com/2019/03/19/metallurgical-holding-company-nuca-sign-cooperation-protocol-to-develop-1m-sqm-land-plot-in-new-cairo/#respond Tue, 19 Mar 2019 08:30:20 +0000 https://www.dailynewsegypt.com/?p=693247 The Minister of Housing, Utilities and Urban Communities, Assem El Gazzar, and the Minister of Public Enterprise Sector, Hesham Tawfik, witnessed the signing of a cooperation protocol between the Metallurgical Holding Company, affiliated to the ministry of public enterprise sector, and the New Urban Communities Authority (NUCA), affiliated to the ministry of housing, in order …

The post Metallurgical Holding Company, NUCA sign cooperation protocol to develop 1m sqm land plot in New Cairo appeared first on Daily News Egypt.

]]>
The Minister of Housing, Utilities and Urban Communities, Assem El Gazzar, and the Minister of Public Enterprise Sector, Hesham Tawfik, witnessed the signing of a cooperation protocol between the Metallurgical Holding Company, affiliated to the ministry of public enterprise sector, and the New Urban Communities Authority (NUCA), affiliated to the ministry of housing, in order to develop a plot of land in New Cairo city on area of 1m sqm.

According to the protocol, the Metallurgical Holding Company and the NUCA agreed to divide the land into small residential plots including services.

Additionally, the protocol regulates the use of the land owned by the Metallurgical Holding Company through a partnership with the NUCA, which will prepare the detailed master plan for the land, as well as the design and implementation of the networks of internal utilities.

Moreover, the NUCA will offer the lands inside the project for clients under the system of a public bid, in addition to offering serviced land plots located in the project, in accordance with the NUCA’s land offering plan.

Under this protocol, the NUCA will pay 50% to the Metallurgical Holding Company from the proceeds of the sale value of the plots of land (residential and service) which have already been sold, with the holding company’s indicative net asset value worth EGP1.3bn.

During the signing ceremony, the two ministers and the two companies discussed the means of cooperation between the bodies of the ministry of housing and companies affiliated to the ministry of public enterprise sector, especially in the field of real estate development and contracting.

 

The post Metallurgical Holding Company, NUCA sign cooperation protocol to develop 1m sqm land plot in New Cairo appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2019/03/19/metallurgical-holding-company-nuca-sign-cooperation-protocol-to-develop-1m-sqm-land-plot-in-new-cairo/feed/ 0
SAK Developments targets EGP 200m in sales of Cityscape exhibition https://dailynewsegypt.com/2019/03/19/sak-developments-targets-egp-200m-in-sales-of-cityscape-exhibition/ https://dailynewsegypt.com/2019/03/19/sak-developments-targets-egp-200m-in-sales-of-cityscape-exhibition/#respond Tue, 19 Mar 2019 08:30:17 +0000 https://www.dailynewsegypt.com/?p=693241 Company aims to achieve total sales of about EGP 500m this year, says CEO

The post SAK Developments targets EGP 200m in sales of Cityscape exhibition appeared first on Daily News Egypt.

]]>
Ahmed Kadri Al Ghitani, the CEO of SAK Developments, predicted that the company will achieve about EGP 200m in sales during Cityscape Egypt exhibition, Invest-Gate reported.

Al Ghitani said that Cityscape is the most important real estate exhibition in the Middle East, and the main destination for those interested in the real estate market and who are looking for the best housing and investment opportunities.

Furthermore, Al Ghitani added that the company is preparing for the exhibition with a distinctive marketing plan and special offers for customers.

He revealed that the company has achieved approximately EGP 150m in sales last year and aims to achieve total sales of about EGP 500m this year.

Moreover, he explained that SAK is participating in Cityscape with two projects in the New Administrative Capital (NAC), one residential and the other is an administrative and commercial one.

SAK is developing its Sueño Compound on 11 feddan in the R7 at the NAC with a built-up area of 14.8%.

The Sueño project includes 12 buildings comprising of 369 units, he noted, elaborating that the company will showcase another administrative and commercial project called Elite in the MU23 in the NAC which spans over 5,500 sqm.

He added that the client’s view of the market differed during the current period than before as it became more investment-oriented, especially in the NAC, as a result of awareness and confidence in the future of the NAC, as well as the support and encouragement of the state for that national project.

Additionally, he welcomed the decision of the Central Bank of Egypt to deduct the interest on deposit and lending by 1%, stressing that it is a catalyst for investors.

Noteworthy, SAK has been working since 35 years in the real estate development market as a family business.

The post SAK Developments targets EGP 200m in sales of Cityscape exhibition appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2019/03/19/sak-developments-targets-egp-200m-in-sales-of-cityscape-exhibition/feed/ 0
Master Group invests EGP 12bn in projects at NAC https://dailynewsegypt.com/2019/03/19/master-group-invests-egp-12bn-in-projects-at-nac/ https://dailynewsegypt.com/2019/03/19/master-group-invests-egp-12bn-in-projects-at-nac/#respond Tue, 19 Mar 2019 07:30:02 +0000 https://www.dailynewsegypt.com/?p=693235 Master Group announced that the company plans to direct EGP 12bn in investments in its two projects, The City and The City Valley, in the New Administrative Capital (NAC), according to Muhammad Lasheen, chairperson of the company. The City project is a residential, commercial, administrative and medical project in the NAC, in the R7 H2 …

The post Master Group invests EGP 12bn in projects at NAC appeared first on Daily News Egypt.

]]>
Master Group announced that the company plans to direct EGP 12bn in investments in its two projects, The City and The City Valley, in the New Administrative Capital (NAC), according to Muhammad Lasheen, chairperson of the company.

The City project is a residential, commercial, administrative and medical project in the NAC, in the R7 H2 region, located on 54 feddan. It includes gardens which compose about 70% of the land’s area, beside artificial lakes. Furthermore, the project consists of a city square incorporating various cafes, restaurants, children’s’ areas and a flickering fountain.

Additionally, the company owns the City Valley project on 63 feddan, with 70% of the project area dedicated for villas, 25% for apartments, 5% for serviced apartments, as well as three palaces, with 1,500 sqm for a single palace. The City Valley project also has a commercial section.

Lasheen said that the company has toured several Arab and Gulf countries including Saudi Arabia and the United Arab Emirates to market its projects in the Egyptian market, especially in the NAC.

Furthermore, Lasheen elaborated that Master Group has started to promote its projects in two of the largest real estate exhibitions in the Arab world, namely WAFIX in Jeddah, Saudi Arabia, which was held under the patronage of the Saudi Minister of Housing, Majid bin Abdullah Al-Haqail. After the completion of the Saudi market, the company has participated in the Hazi Misr (This is Egypt), Egyptian real estate exhibition in the UAE, in its eighth edition, and was held in the period from 14 to 16 March.

He added that the company did not only address Egyptians expatriates, but also focused its marketing plan on people from the Gulf wishing to obtain a residence in Egypt in exchange for owning a property which has had a great impact on opening new ways of marketing in the Gulf region.

“We have been touched by the great passion for the NAC project, as it is Egypt’s real estate future, which resonates well abroad,” he noted.

He disclosed that Master Group has plans to continue to invest in new Egyptian development areas such as Ain Sokhna and Ras Sidr.

The post Master Group invests EGP 12bn in projects at NAC appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2019/03/19/master-group-invests-egp-12bn-in-projects-at-nac/feed/ 0
Housing Ministry surpasses real estate developers in sales of new cities https://dailynewsegypt.com/2019/03/19/housing-ministry-surpasses-real-estate-developers-in-sales-of-new-cities/ https://dailynewsegypt.com/2019/03/19/housing-ministry-surpasses-real-estate-developers-in-sales-of-new-cities/#respond Tue, 19 Mar 2019 07:00:54 +0000 https://www.dailynewsegypt.com/?p=693234 No competition exists between state, developers in new cities, says NUCA assistant housing minister

The post Housing Ministry surpasses real estate developers in sales of new cities appeared first on Daily News Egypt.

]]>
The Ministry of Housing, through the New Urban Communities Authority (NUCA), has achieved significant sales in the cities of New Mansoura and New Alamein, in contrast to the expectations of real estate developers regarding the deceleration in sales of the real estate market during the current year.

The ministry announced in early March that 536 distinguished housing units were electronically booked in New Alamein in just 26 minutes. This is a great indicator of the popularity of the ministry of housing, which is almost the sole developer in the New Alamein city.

The substantial sales are not merely for the New Alamein city, but the ministry has also achieved sales which exceeded EGP 1.5bn in the Zahya project in New Mansoura in just three days, contrary to what was expected by City Edge Developments, the marketer and the project manager on behalf of the NUCA.

Additionally, in late February, Amr El-Kady, the CEO of City Edge Developments, elaborated that the company has achieved EGP 8.5bn in sales of New Alamein by the end of 2018, and has achieved EGP 500m in sales in the city in the first two months of the current year.

Moreover, the company achieved EGP 1.5bn in sales in New Mansoura in 2018, and EGP 600m in the first two months of 2019, according to El-Kady.

Some developers believe that this represents a significant competition for them, and not in favour of developers, but rather in favour of the ministry, which may affect their sales in the coming period.

Chief Projects Officer at Capital Group Properties, Amgad Hassanein, said that the government’s offers of luxury or distinguished housing projects are not its role, but rather the role of private sector companies.

Hassanein added that the continuation of the state in offering luxury housing may lead to problems in the real estate market, which may lead to the reluctance of some companies to exist in some areas where the ministry strongly competes.

For his part, Alaa Fekri, chairperson of Beta Egypt for Urban Development, said that this competition is unbalanced, especially after increasing the implementation cost by about 80%, in addition, developers incur the payment of the value of land purchased from the state.

Fekri explained that the companies’ advertising expenses are rather extensive and therefore companies are working under financial pressure, and at the same time are required to pay the instalments of the land’s value, so it is strongly seeking to accelerate marketing rates.

He elaborated that real estate companies currently face major challenges because they are competing for the same housing category, as well as facing intense competition from the ministry of housing.

Meanwhile, Ayman Sami, the JLL country head-Egypt, believes that the state had to first start by entering these new markets such as New Mansoura and New Alamein in order to reassure investors wishing to operate in these new cities–expecting that there will be a great presence by developers in those cities in the coming period.

Furthermore, Waleed Abbas, the assistant housing minister of the NUCA, said that there is no competition between the state and developers in new cities, especially New Alamein and New Mansoura, proving that the NUCA has offered four plots of land to investors in these two cities in November.

Abbas denied that the state is the only investor or the winning competitor in those cities.

He explained that competition exists if the ministry is offering the same features in projects provided by the investors, noting that develops must distinguish their products in order to be more attractive to the client than what the ministry offers.

He also pointed out that the ministry’s prices are not competitive but are rather market prices as the ministry calculated the cost and profit margins much like developers, in the case of units offering in any of the new urban communities.

The post Housing Ministry surpasses real estate developers in sales of new cities appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2019/03/19/housing-ministry-surpasses-real-estate-developers-in-sales-of-new-cities/feed/ 0
US dollar loses 5 piasters against Egyptian pound on Monday https://dailynewsegypt.com/2019/03/18/us-dollar-loses-5-piasters-against-egyptian-pound-on-monday/ https://dailynewsegypt.com/2019/03/18/us-dollar-loses-5-piasters-against-egyptian-pound-on-monday/#respond Mon, 18 Mar 2019 21:52:12 +0000 https://www.dailynewsegypt.com/?p=693361 Banks receive over $4bn FX inflows in January, February, says senior bank official 

The post US dollar loses 5 piasters against Egyptian pound on Monday appeared first on Daily News Egypt.

]]>
The US dollar lost more than 5 piasters from its value against the Egyptian pound on Monday, averaging EGP 17.28 for buying, and EGP 17.38 for selling, down from EGP 17.33 for buying and EGP 17.43 for selling on Sunday.

Since the beginning of March, the value of the US dollar against the Egyptian pound decreased by 19.5 piasters, bringing the total drop since January to EGP 0.6.

According to a senior bank official, banks operating in the local market received foreign exchange (FX) inflows exceeding $4bn in both January and February 2019, which led to an increase in the US currency supply, and, in turn, to the decline in its price against the Egyptian pound.

The post US dollar loses 5 piasters against Egyptian pound on Monday appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2019/03/18/us-dollar-loses-5-piasters-against-egyptian-pound-on-monday/feed/ 0
GSMA, CBE discuss inter-countries mobile financial services in Africa https://dailynewsegypt.com/2019/03/18/gsma-cbe-discuss-inter-countries-mobile-financial-services-in-africa/ https://dailynewsegypt.com/2019/03/18/gsma-cbe-discuss-inter-countries-mobile-financial-services-in-africa/#respond Mon, 18 Mar 2019 21:50:00 +0000 https://www.dailynewsegypt.com/?p=693353 Mobile money industry processed $1.3bn in transactions per day during 2018

The post GSMA, CBE discuss inter-countries mobile financial services in Africa appeared first on Daily News Egypt.

]]>
Groupe Spéciale Mobile Association (GSMA) aims to launch a cooperation initiative among Arab and African countries to introduce inter-countries mobile financial services through telecommunication network operators, said Amr Hashem, the executive board member of GSMA in Middle East and North Africa (MENA).

He pointed out that the association has recently held a meeting with the Central Bank of Egypt (CBE), 19 banks operating in Egypt, the country’s four mobile operators, and the National Telecommunications Regulatory Authority (NTRA) to discuss this matter.

Hashem revealed the recommendations resulting from the meeting, including activating digital wallets without the need to visit mobile operator branches, through SMS for small transactions, in addition to activating digital identity which would allow recognising citizens and helping them manage their personal accounts through their mobile phones without the need for the “Security Token” devices for bank account management.

According to a recent study, the average world transactions stood at $50-80 per person, with 12% transaction costs through traditional channels. This is why a large proportion of citizens resort to informal channels to transfer their money. He noted that 5% of the people in Sub-Saharan Africa region rely on mobile money transactions.

Hashem praised Egypt’s new E-Payment Law which would be the best way to encourage the transformation towards a cashless society. He estimated the annual damaged cash in Egypt at 2-3% of the gross national product (GNP). By more digitisation, this rate is expected to drop.

He attributed this to mobile companies’ ability to deal with large numbers of users with less risks.

Hashem pointed out that the reliance on telecommunication technologies has allowed a new kind of jobs through micro loans, giving Kenya as an example, as it provides loans through SMS that saves $200-300 with daily interest. These loans have provided liquidity for traders to buy daily products and return loans on the same day.

Furthermore, he spoke about the digital banking experience in Egypt which started recently, noting that it started across the world five years ago, which explains the current trend toward relying on technology in financial services.

He addressed the results of a study prepared by McKinsey & Company which showed that developing countries may largely benefit from developed countries in the field of financial technology and electronic payments.

Moreover, Hashem pointed out that the Supreme Council of Payments, headed by President Abdel Fattah Al-Sisi, is one of the most important experiences that demonstrates the success of the CBE. He added that Egypt, Ethiopia and Nigeria are among the most important African countries that have achieved success in the field of mobile payments, with 110 million users.

He said that the penetration rate of mobile services compared to the population in Egypt reached more than 80% in 2018, while the number of bank account owners is estimated at 12 million people out of 70 million people over the age of 15.

He discussed the GSMA’s recent report on using mobile phones in electronic payments, saying that he discussed the GSMA’s recent report on using mobile phones in electronic payments in 2018, saying that there were over 866m mobile financial services accounts registered across 90 countries. That is a 20% increase over 2017, suggesting that mobile money is rapidly gaining attraction as financial services continue to go digital and smartphones get into the hands and pockets of more users around the world.

That all add up to a lot of money changing hands, too, with the GSMA’s report estimating that the mobile money industry processed $1.3bn in transactions per day during 2018, and each user makes transactions of $206 daily, noting that 54% of the citizens in Ghana, Cote d’Ivoire, and Senegal have mobile money accounts.

The GSMA includes 800 mobile operators worldwide. Its board of directors includes 25 members of the largest companies in terms of the number of subscribers. From the Arab region, it includes STC and Etisalat Group.

Noteworthy, the GSMA has started the so-called ‘communication for development’, relying mainly on the goals of sustainable development approved by the UN, such as programmes to allow women to access telecommunication services, and deliver utilities to remote areas, such as electricity and water.

The post GSMA, CBE discuss inter-countries mobile financial services in Africa appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2019/03/18/gsma-cbe-discuss-inter-countries-mobile-financial-services-in-africa/feed/ 0
Adviser of Yemeni Minister of Defence dies in Cairo vehicle accident https://dailynewsegypt.com/2019/03/18/adviser-of-yemeni-minister-of-defence-dies-in-cairo-vehicle-accident/ https://dailynewsegypt.com/2019/03/18/adviser-of-yemeni-minister-of-defence-dies-in-cairo-vehicle-accident/#respond Mon, 18 Mar 2019 21:40:09 +0000 https://www.dailynewsegypt.com/?p=693357 Al Amoudi died once he was transferred to hospital in Giza

The post Adviser of Yemeni Minister of Defence dies in Cairo vehicle accident appeared first on Daily News Egypt.

]]>
The adviser of the Yemeni Minister of Defence, General Abdul Qader Al Amoudi, died in a traffic accident in Giza on Monday.

According to the statement of the ministry of interior, Al Amoudi was transferred to a hospital in the Giza governorate after he was injured in an accident as a vehicle hit him in Giza’s Faisal district. He succumbed to his injuries and was declared dead upon arriving at the hospital.  

Security forces and intelligence officers moved to the location of the incident. It was revealed that while he was on Ka’abish street in Faisal-where he was living-to buy some household items, he was struck by a vehicle loaded with gas cylinders, according to the statement.

The post Adviser of Yemeni Minister of Defence dies in Cairo vehicle accident appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2019/03/18/adviser-of-yemeni-minister-of-defence-dies-in-cairo-vehicle-accident/feed/ 0
Real estate sector to prosper by 2020 following inauguration of 14 new cities https://dailynewsegypt.com/2019/03/18/real-estate-sector-to-prosper-by-2020-following-inauguration-of-14-new-cities/ https://dailynewsegypt.com/2019/03/18/real-estate-sector-to-prosper-by-2020-following-inauguration-of-14-new-cities/#respond Mon, 18 Mar 2019 21:36:13 +0000 https://www.dailynewsegypt.com/?p=693355 Country suffering from gap between offered, required social housing units due to high population growth

The post Real estate sector to prosper by 2020 following inauguration of 14 new cities appeared first on Daily News Egypt.

]]>
The real estate sector will prosper by 2020 following the implementation of 14 new cities in Egypt which are worth about EGP 388bn, the Minister of Housing, Utilities and Urban Communities, Assem El-Gazzar, said on Monday at the fifth real estate summit that was organised by the American Chamber of Commerce in Egypt (AmCham Egypt), entitled ‘Scaling up: Egypt’s Real Estate Industry.’

“Is it better to spend on new urban communities now because most Egyptian cities are old and cannot supply the needs of its citizens in the future? Some experts say that spending on education and health is better, but we are very late in building new cities,” he noted.

Currently, the country is suffering from a gap between the offered and required social housing units because of the high population growth, he added, noting that Egyptians live on about 6% of their land area.

The land area we live on is not enough to build the necessary businesses for the economy, he mentioned, asserting that all the ministry’s plans are being implemented in line with the country’s master plan until 2052.

“We will exert considerable effort to expand in the country’s land area which has a developmental potential,” he noted, praising the government’s road network project which links all the new destinations together.

Furthermore, the minister affirmed that his government believes in the role of the private sector in supporting the economy, pointing out that the New Administrative Capital is a prototype for new smart cities which the country plans to implement.

“The New Capital is a commercial name, it is a New Administrative Centre,” he said, adding that the ministry offered 350,000 social housing units over the past two years.

“We will offer about 700,000 units in 2020 which is a huge number of social housing units, and we still have a gap because of the population growth,” he explained, stressing that the ministry is not responsible for offering the units as it is the role of the private sector.

He also said that he will meet representatives of the World Bank Group next week to discuss how to engage the private sector in the social housing projects.

The post Real estate sector to prosper by 2020 following inauguration of 14 new cities appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2019/03/18/real-estate-sector-to-prosper-by-2020-following-inauguration-of-14-new-cities/feed/ 0
Three killed in Netherlands shooting, police identify attacker https://dailynewsegypt.com/2019/03/18/three-killed-in-netherlands-shooting-police-identify-attacker/ https://dailynewsegypt.com/2019/03/18/three-killed-in-netherlands-shooting-police-identify-attacker/#respond Mon, 18 Mar 2019 21:30:18 +0000 https://www.dailynewsegypt.com/?p=693350 Initial investigation reveals possible terrorist motive, police say

The post Three killed in Netherlands shooting, police identify attacker appeared first on Daily News Egypt.

]]>
Three people were killed, and nine others were injured, three of whom were severely wounded,

in a shooting that took place on Monday in Utrecht city, the Netherlands, according to the mayor of Utrecht.

Utrecht police said that a gunman opened fire on a tram in the 24 Oktoberplein junction, but no arrests appear to have been made.

The police identified the suspect as Gökmen Tanis, a 37-year-old native of Turkey, and released a photo of him.

Police have tightened their control in the province that witnessed the attack.

“The police is investigating the shooting in Utrecht this morning. A possible terrorist motive is part of the investigation,” Utrecht police of tweeted on Monday.

Dutch Prime Minister Mark Rutte expressed his ‘deep concerns’ over the shooting and cancelled his weekly talks. 

The shooting came only a few days after an Australian terrorist opened fire at two mosques in Christchurch city, New Zealand, last Friday. He killed 50 Muslim worshippers and wounded dozens. Four Egyptians were among those killed in the Christchurch attacks, and 11 others were injured according to the Egyptian ambassador to New Zealand, Tariq Al-Wasimi.

The post Three killed in Netherlands shooting, police identify attacker appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2019/03/18/three-killed-in-netherlands-shooting-police-identify-attacker/feed/ 0
Al-Sisi calls for Arab-African apparatus to combat terrorism https://dailynewsegypt.com/2019/03/18/al-sisi-calls-for-arab-african-apparatus-to-combat-terrorism/ https://dailynewsegypt.com/2019/03/18/al-sisi-calls-for-arab-african-apparatus-to-combat-terrorism/#respond Mon, 18 Mar 2019 21:17:59 +0000 https://www.dailynewsegypt.com/?p=693345 President concludes Arab, African Youth Platform in Aswan

The post Al-Sisi calls for Arab-African apparatus to combat terrorism appeared first on Daily News Egypt.

]]>
Egyptian President Abdel Fattah Al-Sisi has called for the formation of an Arab-African apparatus to combat terrorism and maintain regional stability and security.

During the closing session of the Arab and African Youth Platform in Aswan – one of the World Youth Forum Platforms – Al-Sisi called on the health ministry and other state bodies to launch a new initiative to scan 1 million Africans residing in Egypt for hepatitis C virus.

Concurrently, he instructed the cabinet and the ministries of education and foreign affairs to allow African researchers to access the Egyptian Knowledge Bank.

Meanwhile, he advised using media platforms and social media to correct the erroneous image of Arab and African relations.

Al-Sisi further called for preparing a paper, in cooperation with the Commission of the African Union (AU) and the General Secretariat of the Arab League, on the possibility of establishing a joint Arab market, and a fund for enhancing inter-country cooperation in the fields of electricity, railways, roads, as well as the counterterrorism apparatus.

During the platform, Al-Sisi met with the Chairperson of the AU Commission, Moussa Faki. The president emphasised “the significance of increasing the AU’s efforts to prevent conflicts and effectuate the AU’s policy toward reconstruction and development in post-conflict areas,” a Sunday’s Egyptian presidency statement read.

“This is to be adopted within a more comprehensive approach that is based on development, as an end and also as a means, in order to address the root causes of conflicts and to enhance states’ capacitates,” the statement added.

Furthermore, Al-Sisi expressed readiness to foster this proposal, in view of leading issues of reconstruction and development in post-conflict areas within the AU.

The first edition of the Arab and African Youth Platform kicked off on Saturday in Aswan. The platform involved several workshops, sessions, and roundtable discussions aiming to connect young leaders with top decision-makers.

The post Al-Sisi calls for Arab-African apparatus to combat terrorism appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2019/03/18/al-sisi-calls-for-arab-african-apparatus-to-combat-terrorism/feed/ 0
Wadi Degla to invest EGP 5.3bn in construction projects in FY 2020 https://dailynewsegypt.com/2019/03/18/wadi-degla-to-invest-egp-5-3bn-in-construction-projects-in-fy-2020/ https://dailynewsegypt.com/2019/03/18/wadi-degla-to-invest-egp-5-3bn-in-construction-projects-in-fy-2020/#respond Mon, 18 Mar 2019 18:03:27 +0000 https://www.dailynewsegypt.com/?p=693282 Wadi Degla Holding will invest EGP 5.3bn in construction projects in the fiscal year (FY) 2019/20, Invest-Gate cited the Chairperson and CEO of Wadi Degla, Maged Helmy. During a roundtable discussion, Helmy announced 2019 as the Year of Accomplishments and Deliveries since Wadi Degla will deliver around 2,200 units in seven residential and touristic projects, in …

The post Wadi Degla to invest EGP 5.3bn in construction projects in FY 2020 appeared first on Daily News Egypt.

]]>
Wadi Degla Holding will invest EGP 5.3bn in construction projects in the fiscal year (FY) 2019/20, Invest-Gate cited the Chairperson and CEO of Wadi Degla, Maged Helmy.

During a roundtable discussion, Helmy announced 2019 as the Year of Accomplishments and Deliveries since Wadi Degla will deliver around 2,200 units in seven residential and touristic projects, in addition to speeding up the implementation rates in one of the company’s biggest projects, Neopolis compound in El Mostakbal City.

Helmy noted that around 1,790 units are expected to be delivered at Neopolis by 2020, with the construction work doubled during the first three months of 2019, compared to 2018.

He stressed that Wadi Degla aims to achieve a feat in the construction sector through its residential and touristic projects, as the company’s projected construction spending in 2019 and 2020 was estimated at EGP 5.3bn. 

Moreover, the conformity assessment for 22 buildings in the Promenade Residence – around half of the project – has been completed, while the conformity of the rest of the project will be assessed within a month, with the project’s entire delivery to be completed in 2019, Helmy said.

The project was built on an area of 233,000 sqm and includes 960 housing units, with the first phase’s total investments amounting to EGP 745m. 

He also revealed that the first phase of the Blumar El-Sokhna project has been entirely completed, and the company sent 600 delivery letters to clients, with earlier units already delivered in 2018, while the rest will be delivered in 2019. 

The project was built on an area of around 1.1m sqm and includes 3,000 units with total investments of EGP 2.8bn.

For Neopolis, Helmy said it is one of the company’s biggest projects, built on 545 feddan and consisting of 15,000 residential units ranging between apartments and duplexes, with an investment value of EGP 20bn. 

As to the company’s touristic projects, Wadi Degla will start delivering 300 units in 2019 in its Murano Ain El-Sokhna project, which is considered half of the first phase’s units. The project extends over 470,000 sqm and comprises of around 2,000 units, in addition to a hotel, with total investments valued at EGP 1.8bn, he elaborated.

“Wadi Degla will also start delivering the units of Promenade New Cairo project, located in the heart of New Cairo, in December 2020. It contains 1,000 residential units built on an area of 140,000 sqm, with investments worth EGP 1.350bn,” Helmy noted.

“Blumar Hills Sokhna, overlooking the Galala Mountain, was built on an area of over 45,000 sqm. The project will be delivered during the second half of 2019. It includes 190 residential units,” Helmy concluded.

The post Wadi Degla to invest EGP 5.3bn in construction projects in FY 2020 appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2019/03/18/wadi-degla-to-invest-egp-5-3bn-in-construction-projects-in-fy-2020/feed/ 0
Private firms, government agree to issue real estate sector regulatory law https://dailynewsegypt.com/2019/03/18/private-firms-government-agree-to-issue-real-estate-sector-regulatory-law/ https://dailynewsegypt.com/2019/03/18/private-firms-government-agree-to-issue-real-estate-sector-regulatory-law/#respond Mon, 18 Mar 2019 17:43:32 +0000 https://www.dailynewsegypt.com/?p=693281 May Abdel Hamid, the CEO of the Social Housing Mortgage Finance Subsidy Fund, agreed with representatives of real estate companies on the importance of issuing a new law which will regulate the real estate sector during her speech at the fifth real estate summit which was organised by the American Chamber of Commerce in Egypt …

The post Private firms, government agree to issue real estate sector regulatory law appeared first on Daily News Egypt.

]]>
May Abdel Hamid, the CEO of the Social Housing Mortgage Finance Subsidy Fund, agreed with representatives of real estate companies on the importance of issuing a new law which will regulate the real estate sector during her speech at the fifth real estate summit which was organised by the American Chamber of Commerce in Egypt on Monday, entitled ‘Scaling up: Egypt’s Real Estate Industry.’

“We have worked on many draft laws over the past period. It is important to regulate developers’ activities, as we have to protect this field,” she added, noting that some developers offer a 0% down payment interest rate which is unexpected.

Some consumers buy units as storage spaces for their valuables which is highly risky, she mentioned, noting, “if we aim to export the real estate sector, we have to develop our own law that protects consumers, as well as companies.”

Moreover, she added that the market has to promote the real estate sector’s exportation during participations in global exhibitions.

Managing Director and board member of Tatweer Misr, Ahmed Shalaby, affirmed the importance of the proposed new law, adding, “We are in a bad need for a new regulation, with the collaboration of all stakeholders, in order to discuss its main pillars.”

The government has to play the initial role in developing the new cities through facilitating the services and the main infrastructure, he said, adding “The government has to support the private sector and encourage them to invest in the new cities.”

Mohamed El-Akad, member of the parliament’s housing committee, also affirmed the importance of exporting the real estate sector, noting that issuing a law allowing foreigners to own units on some conditions will support that plan, and will offer the country new foreign resources from the hard currency, which will support the economy. 

Turkey set a plan in 2009 to promote the exports of the real estate sector, and now it remarkably developed the sector, stated Hesham Shoukri, the chairperson of Rooya Group, while calling on authorities to increase their exerted efforts in order to promote the sector’s long-term plans for exports.

   

The post Private firms, government agree to issue real estate sector regulatory law appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2019/03/18/private-firms-government-agree-to-issue-real-estate-sector-regulatory-law/feed/ 0
Three private Egyptian firms finalising their listing procedures for EGX in 2019 https://dailynewsegypt.com/2019/03/18/three-private-egyptian-firms-finalising-their-listing-procedures-for-egx-in-2019/ https://dailynewsegypt.com/2019/03/18/three-private-egyptian-firms-finalising-their-listing-procedures-for-egx-in-2019/#respond Mon, 18 Mar 2019 17:30:08 +0000 https://www.dailynewsegypt.com/?p=693278 We are still underdeveloped in establishment of REITs, says EGX Chairperson

The post Three private Egyptian firms finalising their listing procedures for EGX in 2019 appeared first on Daily News Egypt.

]]>
Three Egyptian companies, including real estate firms, are finalising their documents in order to be listed in the Egyptian Exchange (EGX) in 2019, the Chairperson of the EGX, Mohamed Farid, said during his inaugural speech at the fifth real estate summit which was organised by the American Chamber of Commerce in Egypt (AmCham Egypt) on Monday, entitled ‘Scaling up: Egypt’s Real Estate Industry.’

“Market valuation showed that one of the companies’ volume is at EGP 8bn, the other one is at EGP 6bn, while the third company has not finalised its valuation” he noted, affirming the importance of the companies’ listing in the EGX as it enables the companies to grow further financially, as well as helping the companies to adopt governance measures.

Some of the companies aim to be offered in the EGX before mid-2019, while others plan for listings in September, he mentioned, noting that there are about 36 real estate firms which are listed in the EGX, with capitals worth EGP 85bn.

“We are still underdeveloped in the establishment of real estate investment trusts (REITs), in comparison with regional markets. We have to work more on this issue to further expand the sector. We only have one REIT, and we need to boost this sector,” he said.

The EGX is collaborating with many stakeholders for a training programme for companies which plan for initial public offerings (IPOs), he added, explaining, “The programme will be a must, and it will be specialised in Internal Rate of Returns (IRRs), which is very important for companies, and it is always difficult for the companies to know. We will start with public sector companies.”

“We have to work with the developer on an index for the real estate sector in Egypt, not about the performance of the companies, but also for the prices of the units and how they are developing across time,” he remarked.

Furthermore, he called on developers to work with the EGX in order to enhance the aforementioned index even for primary sales, noting that the data is still missing and that is why he had an initial meeting with the companies in order to discuss it.

Additionally, he said that 2018 was a difficult year, not only for the Egyptian capital market, but also for international markets due to the world trade wars, noting, “We were able to attract about $6bn as net flows from international markets.”

The post Three private Egyptian firms finalising their listing procedures for EGX in 2019 appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2019/03/18/three-private-egyptian-firms-finalising-their-listing-procedures-for-egx-in-2019/feed/ 0
Opening of GEM will increase real estate demand, sales in west Cairo: SODIC  https://dailynewsegypt.com/2019/03/18/opening-of-gem-will-increase-real-estate-demand-sales-in-west-cairo-sodic/ https://dailynewsegypt.com/2019/03/18/opening-of-gem-will-increase-real-estate-demand-sales-in-west-cairo-sodic/#respond Mon, 18 Mar 2019 17:15:03 +0000 https://www.dailynewsegypt.com/?p=693268 Government exerts substantial efforts to internationally promote Egypt’s real estate sector

The post Opening of GEM will increase real estate demand, sales in west Cairo: SODIC  appeared first on Daily News Egypt.

]]>
The west side of Cairo is expected to witness an increase in the real estate demand and sales in 2020 following the opening of the Grand Egyptian Museum )GEM), Managing Director of the Sixth of October for Development and Investment Company (SODIC), Magued Sherif, said during his speech at the fifth real estate summit which was organised by the American Chamber of Commerce in Egypt (AmCham Egypt) on Monday, entitled ‘Scaling up: Egypt’s Real Estate Industry.’

The presence of Cairo Airport in the east side of Cairo, as well as many businesses there, has encouraged more activities and sales, he noted, adding that the government has increased its engagement in the sector over the last couple of years.

The real estate sector is a vital sector of the economy, he affirmed, noting that the government exerts substantial effort to position Egypt’s real estate sector on the international map.

In emerging markets such as in India, China, and the UAE, the average contribution of the real estate sector to the GDP is about 6%, or 6.5%, while in the US it is about 7% to the GDP, Sherif stated.

Furthermore, SODIC’s managing director declared that real estate companies listing in the Egyptian Exchange represents a good opportunity for the companies to develop themselves and deposit new investments.

Infrastructure projects are essential for the country and are aligned with the country’s economic reform programme in order to achieve sustainable growth. However, the devaluation of the Egyptian pound was a significant challenge for the sector, he acknowledged.

The post Opening of GEM will increase real estate demand, sales in west Cairo: SODIC  appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2019/03/18/opening-of-gem-will-increase-real-estate-demand-sales-in-west-cairo-sodic/feed/ 0
Foreign tourists spend over EGP 218.1bn in Egypt in 2018: WTTC https://dailynewsegypt.com/2019/03/18/foreign-tourists-spend-over-egp-218-1bn-in-egypt-in-2018-wttc/ https://dailynewsegypt.com/2019/03/18/foreign-tourists-spend-over-egp-218-1bn-in-egypt-in-2018-wttc/#respond Mon, 18 Mar 2019 16:44:39 +0000 https://www.dailynewsegypt.com/?p=693274 Tourism sector’s contribution to Egypt`s GDP projected to grow by 5.4% in 2019

The post Foreign tourists spend over EGP 218.1bn in Egypt in 2018: WTTC appeared first on Daily News Egypt.

]]>
In total, international tourists spent over EGP 218.1bn in Egypt last year, accounting for over 27.3% of the total exports, according to a new research by the World Travel and Tourism Council (WTTC), which represents the global private sector of travel and tourism.

It explained that the largest inbound international markets were Germany with 13%; Russia with 12%; the UK with 7%; Saudi Arabia with 6%, and Italy with 3%. Combined with domestic spending, travel and tourism supported 11.9% of the nation’s GDP in 2018.

Meanwhile, the WTTC stated that last year saw significant growth for Egyptian travel and tourism as it became the fastest-growing country in North Africa, growing by 16.5%–second only to Ethiopia when reviewing the whole continent.

The WTTC explained that this growth has been linked to improved security infrastructure, which has helped to attract international visitors back to Egypt’s shores, and has allowed major travel companies to restart operations in popular destinations such as Sharm El-Sheikh.

This follows a year of record growth in 2017, which saw a travel and tourism growth rate of 54.8% in the country.

“Egypt’s travel and tourism sector now contributes EGP 528.7bn to the economy and supports 2.5m jobs. This means that more than one in 10 of all travel jobs (24m) in Africa are located in Egypt,” the WTTC added.

“Although the sector has not yet fully recovered to pre-crisis levels, the size of the Egyptian travel economy in 2018, which stood at $29.6bn, is the healthiest it has been since 2010,” it noted.

The 2018 research indicated that the travel and tourism sector in Egypt grew by 16.5% last year, significantly ahead of the global average of 3.9%. 

“This contributed 11.9% to Egypt’s GDP, or worth EGP 528.7bn, equivalent to $29.6bn when all direct, indirect, and induced effects are taken into consideration,” it stated.

The WTTC added that travel and tourism are responsible for 9.5% of all of Egypt’s employment, or 2.5m jobs.

“The tourism sector’s contribution to the GDP is projected to grow even further, by 5.4% in 2019,” it forecasted.

Notably, in November, Egypt’s Minister of Tourism, Rania Al-Mashat, spoke at a WTTC panel, highlighting the importance of the travel and tourism sector as a job creator, explaining that the travel sector in Egypt is a “job multiplier,”–that is, for every job directly created in tourism, further three are supported.

The WTTC President and CEO, Gloria Guevara, celebrated the results and stated, “We are delighted to see the strong recovery of the Egyptian travel sector–a sector so crucial to national economic growth and a key provider of jobs.”

The post Foreign tourists spend over EGP 218.1bn in Egypt in 2018: WTTC appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2019/03/18/foreign-tourists-spend-over-egp-218-1bn-in-egypt-in-2018-wttc/feed/ 0
Egypt offers condolences for victims of Indonesia, east Africa’s flash floods https://dailynewsegypt.com/2019/03/18/egypt-offers-condolences-for-victims-of-indonesia-east-africas-flash-floods/ https://dailynewsegypt.com/2019/03/18/egypt-offers-condolences-for-victims-of-indonesia-east-africas-flash-floods/#respond Mon, 18 Mar 2019 16:39:09 +0000 https://www.dailynewsegypt.com/?p=693271 Dozens were killed, hundreds dead, while thousands were forced to leave their homes

The post Egypt offers condolences for victims of Indonesia, east Africa’s flash floods appeared first on Daily News Egypt.

]]>
Egypt expressed its condolences to the Indonesian government and people for the deceased and injured victims, as a result of the flash floods and mudslides at mountainside villages in Indonesia’s easternmost Papua province.

In a statement from Egypt’s Ministry of Foreign Affairs on Sunday, Egypt offered its condolences for the families and the relatives of the victims, wishing the injured a speedy recovery. The ministry added that Egypt stands with the Indonesian government and its people during this crisis.

On Saturday, a number of mountainside villages in Indonesia were triggered by torrential rains, killing at least 58 people, and wounding dozens, while more than 4,000 were forced to flee their homes.

Flooding is common in Indonesia, especially during the monsoon season which runs from October to April.

Noteworthy, the province of Papua is the closest Indonesian territory to Papua New Guinea, which shares the same island with the Indonesian territory.

In the same context, the ministry of foreign affairs issued another statement expressing condolences for the governments and people of Mozambique, Malawi, and Zimbabwe.

The three east African countries were also affected by flash floods earlier this week, resulting in the death of more than 150 people and the injury of hundreds, in addition to forcing thousands of people from their homes.

Egypt expressed its condolences to the families and relatives of the victims, stressing that it stands with the three countries’ governments and peoples in their crises.

The post Egypt offers condolences for victims of Indonesia, east Africa’s flash floods appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2019/03/18/egypt-offers-condolences-for-victims-of-indonesia-east-africas-flash-floods/feed/ 0
MP Fouad denounces New Zealand attack, Senator Anning’s offensive statement https://dailynewsegypt.com/2019/03/18/mp-fouad-denounces-new-zealand-attack-senator-annings-offensive-statement/ https://dailynewsegypt.com/2019/03/18/mp-fouad-denounces-new-zealand-attack-senator-annings-offensive-statement/#respond Mon, 18 Mar 2019 16:34:05 +0000 https://www.dailynewsegypt.com/?p=693257 The attack on two mosques in New Zealand which left 49 Muslim worshipers dead and injured plenty others, was a brutal and gruesome act of terrorism, MP Mohamed Fouad said in a press statement on Monday. “Our sincere thoughts and prayers go out to their families and loved ones affected by this dreadful tragedy,” the …

The post MP Fouad denounces New Zealand attack, Senator Anning’s offensive statement appeared first on Daily News Egypt.

]]>
The attack on two mosques in New Zealand which left 49 Muslim worshipers dead and injured plenty others, was a brutal and gruesome act of terrorism, MP Mohamed Fouad said in a press statement on Monday.

“Our sincere thoughts and prayers go out to their families and loved ones affected by this dreadful tragedy,” the statement added.

Moreover, Fouad strongly denounced the hateful statement of the Australian Senator Fraser Anning of Queensland, who shifted the blame towards the Muslim victims while their families are still in deep grief. 

Adding that, although these kinds of statements are unsurprisingly abhorrent from a senator who built his entire career on inflammatory, discriminatory, xenophobic, and Islamophobic remarks, Anning continues to shame himself with such hate messages that are in fact the culprit of such atrocities.

“We therefore strictly condemn such hateful remarks, and urge his fellow senators to distance themselves from such despicable words. I end this statement by recalling the words of Flora Jessop ‘Blaming the victims only masks the evil within, making you as guilty as those who abuse. Stand up for the innocent, or go down with the rest!’,” the statement concluded.

The post MP Fouad denounces New Zealand attack, Senator Anning’s offensive statement appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2019/03/18/mp-fouad-denounces-new-zealand-attack-senator-annings-offensive-statement/feed/ 0
Ministry of Education offers free internet cards to first secondary students to reform learning  https://dailynewsegypt.com/2019/03/18/ministry-of-education-offers-free-internet-cards-to-first-secondary-students-to-reform-learning/ https://dailynewsegypt.com/2019/03/18/ministry-of-education-offers-free-internet-cards-to-first-secondary-students-to-reform-learning/#respond Mon, 18 Mar 2019 16:29:12 +0000 https://www.dailynewsegypt.com/?p=693265 Aim is to access digital knowledge bank outside schools, students to perform online exams

The post Ministry of Education offers free internet cards to first secondary students to reform learning  appeared first on Daily News Egypt.

]]>
The Ministry of Education announced that it will provide free internet cards to first secondary students starting from Monday, as part of the ministry’s plan to develop the educational process.

The ministry said that it coordinated with communication companies to deliver internet cards to students in schools, without administrative expenses and fees, in order to facilitate the procedures for both the students and the parents.

The ministry added that the aim of the card is to access the digital content knowledge bank outside the school, and for students to perform their online examinations.

The parents should bring a copy of their national ID number and the student’s birth certificate in order to receive the card from the communication company’s salesperson. Moreover, the parents should also sign a contract and an acknowledgment of receipt, and the company will afford 1GB for free during the contracting process, with the cost of every 1GB being a monthly EGP 5.

Last week, over 708,000 tablets were distributed to first secondary students in about 2,000 schools in 20 governorates.

As Egypt is looking forward to making critical changes in its public educational system based on its 2030 Vision, it signed an agreement in April 2018 with the World Bank for a five-year loan worth $500m to improve education in Egyptian public schools. One of these changes is to provide students with free tablets, to allow them to access their curricula, and to solve their exams through the tablets.

The Ministry of Education’s Spokesperson, Amina Khairy, announced that the trial exams which will take place this month on 24 March will be available on the tablets.

The post Ministry of Education offers free internet cards to first secondary students to reform learning  appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2019/03/18/ministry-of-education-offers-free-internet-cards-to-first-secondary-students-to-reform-learning/feed/ 0
Five million students screened for several diseases in presidential health initiative https://dailynewsegypt.com/2019/03/18/five-million-students-screened-for-several-diseases-in-presidential-health-initiative/ https://dailynewsegypt.com/2019/03/18/five-million-students-screened-for-several-diseases-in-presidential-health-initiative/#respond Mon, 18 Mar 2019 16:24:42 +0000 https://www.dailynewsegypt.com/?p=693262 Initiative targets examining 11.5 million students for anaemia, obesity, stunting

The post Five million students screened for several diseases in presidential health initiative appeared first on Daily News Egypt.

]]>
The Minister of Health, Hala Zayed, announced on Monday that the ministry has examined 5 million school students since mid-February.

The first phase of President Abdel Fattah Al-Sisi’s initiative for detecting anaemia, obesity, and stunting was launched on 16 February, and the second phase started on 6 March.

Zayed noted that about 885,154 students were scanned since the beginning of the second phase in 11 governorates. The second phase includes Cairo, Suez, Ismailia, Menoufiya, Kafr El-Sheikh, Beni Suef, Sohag, Luxor, Aswan, the Red Sea, and North Sinai.

The first phase examined 4,122,428 million students in 11 governorates including: Giza, Fayoum, Beheira, Alexandria, Qena, Asyut, Qaliubiya, Damietta, Port Said, Matrouh, and South Sinai.  

The Spokesperson of the Ministry of Health, Khaled Megahed, said in a statement that the initiative is divided into three phases, and will be finalised in April. He added that all the students who were diagnosed positive of any of the mentioned diseases would receive the required treatment at hospitals for free of charge.  

The presidential initiative targets scanning about 11.5 million students in more than 22,000 schools by the end of April. The affected students shall receive the needed cure at 225 hospitals affiliated to the General Authority for Health Insurance, for free.

 

The post Five million students screened for several diseases in presidential health initiative appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2019/03/18/five-million-students-screened-for-several-diseases-in-presidential-health-initiative/feed/ 0
Paris dresses up for ancient Egypt’s young king https://dailynewsegypt.com/2019/03/18/paris-dresses-up-for-ancient-egypts-young-king/ https://dailynewsegypt.com/2019/03/18/paris-dresses-up-for-ancient-egypts-young-king/#respond Mon, 18 Mar 2019 14:00:42 +0000 https://www.dailynewsegypt.com/?p=693177 After 50 years of absence, Tutankhamen’s belongings revisit Paris in exhibition on 21 March

The post Paris dresses up for ancient Egypt’s young king appeared first on Daily News Egypt.

]]>
While the world is finalising the preparations for Mother’s Day, Paris is busy with preparing for another long-awaited event: the inauguration of Tutankhamun’s temporary exhibition that will showcase dozens of the young king’s belongings, which will take place at the Grande Halle de La Villette.

After 50 years of absence, since the last time the exhibition was held at the city, the charming centre of art, beauty, and fashion, is covered up with Egyptian civilisation banners, pictures of the king’s golden masks, and posters of the soon-to-be showcased belongings that captured people’s minds and souls. Meanwhile, as one of the most beloved pharaohs abroad, he took over the front page of most of the city’s most read publications.

The exhibition, named King Tut: Treasures of the Golden Pharaoh, is to open its doors on 21 March, showcasing “150 fascinating original objects found in 1922 in the tomb of the most famous pharaohs, the majority of which have never left Egypt before,” according to the Paris official website of the convention and visitors bureau.

So far, the museum announced the pre-selling of 130,000 tickets for the public, who are welcomed to visit the exhibition from 23 March. Pre-selling large numbers of tickets is not something unusual for the exhibition. In fact, it is what has become expected after the Golden Pharaoh’s journey in several countries.

Tutankhamun’s previous stop was in Los Angeles, California. In the United States, all 3,500 tickets of the exhibition were sold out before the official opening and nearly 100,000 tickets were issued and sold out during the opening weekend, which led the California Science Centre to extend its opening time for three additional hours after official working hours, as regulations forbid hosting over 100 persons inside the museum at a time.

Egypt is supporting this exhibition with 50 artefacts that will leave the country for the first time to follow their peers in order to join the list of displayed items. The displayed items include the world’s most famous gold mask, the gilded wooden bed-which was fashioned especially for his funeral with carved lion feet- golden coffins, and 3D models the museum prepared to take visitors through time and place within the glories of the Egyptian civilisation.    

The last time the exhibition was inaugurated in France was in 1967, where 1.2 million visitors expressed their interest in exploring the history of the young king, according to the museum’s official website, while the former Egyptian minister of antiquities stated that the number of visitors reached 1.5 million, according to state-owned Al-Ahram Online.

King Tutankhamun’s showcased belongings were originally transferred from the Egyptian Museum in Cairo. The relics include alabaster pots, wooden boxes, and statues of the pharaoh.

The exhibition will last until 15 September 2019, before it starts another journey including six other countries: Australia, and South Korea, where it is to be on display in 10 cities. The tour will last until the end of 2022. After the tour finds an end, the relics are to return back to the Grand Egyptian Museum (GEM), where they will join the rest of the 5,000 relics found at the king’s burial chamber in 1922.

The GEM’s director previously told Daily News Egypt that 4,500 of Tutankhamen’s antiquities were successfully transferred to the museum, and the rest will soon join them after the official inauguration, stating that the overseas monuments are to return home where their display spots are saved and numbered.

The temporary exhibition witnessed a huge success in the US. Local media previously reported that it attracted more than 500 million visitors since it opened in March. 

The increase in the temporary exhibitions abroad is an effort on the part of the Minister of Antiquities, Khaled Anany, to revive tourism in Egypt, and create a source of income for the ministry.

Local media reported that the ministry’s income from the past LA exhibition reached $5m, with $4 going to the ministry on every ticket sold.

Anany explained the reason behind choosing Tutankhamen’s belongings to tour across Europe is that people have a love story with the young pharaoh.

The first exhibition showcasing Egyptian artefacts in a foreign country, as part of the minster’s new policy, kicked off in Toronto, Canada, last year, and displayed the heritage and monuments of the Egyptian Fatimid era. The ministry also highlighted other Egyptian eras through foreign exhibitions. After the first exhibition, another demonstrated the artefacts of the cities of Thonis-Heracleion and Canopus – which were accidentally discovered under water after being lost for 1,000 years – whereas a third exhibition will soon be inaugurated for jewellery from ancient Egyptian eras.

The post Paris dresses up for ancient Egypt’s young king appeared first on Daily News Egypt.

]]>
https://dailynewsegypt.com/2019/03/18/paris-dresses-up-for-ancient-egypts-young-king/feed/ 0