Egypt exhibits tanks, armored vehicles in IDEX2019

Minister of State for Military Production Mohamed al-Assar in a meeting with Emirati defense officials on the sidelines of IDEX2019 held in Abu Dhabi, UAE on February 17-21. Press PhotoCAIRO - 19 February 2019: Egypt is exhibiting M1-A1 and M88-A2 tanks, and ST100 and ST500 armored vehicles in IDEX2019 held in Abu Dhabi on February 17-21.On the sidelines of IDEX2019, Minister of State for Military Production Mohamed al-Assar met with Emirati Minister of State for Defense Affairs Mohamed bin Hamad al-Bawardy, Emirati Chief of Staff Hamad Mohammed Thani Al Rumaithi, and Emirati Chairman of the National and Reserve Service Authority Ahmed bin Tahnoon.The Emirati officials affirmed the necessity to cooperate in the sector of military production.They said that the M1-A1 and M88-A2 tanks as well as the other Egyptian-made defense products that were exhibited in EDEX 2018 reflect technological advancement in Egypt’s defense industry.They also expressed their appreciation for Egypt’s selection of the UAE to exhibit the aforementioned tanks for the first time in a foreign country.On his side, Assar lauded the technological advancement of the Emirati defense industry, and the outstanding organization of the exhibition. The minister added that Egypt will take part in IDEX2021, and that more Emirati firms will take part in EDEX2020.Egyptian defense products exhibited in IDEX2019 were also praised by Director General of Saudi Border Guards Awwad Bin Eid Al-Aradi Al-Balawi, who asserted the need for Egyptian-Saudi cooperation in the sector of military production to combat terrorism.Assar met with Senior Managing Director of OshKosh Defense in the Middle East, Africa and South Asia Michael Dishman. The company manufactures tactical vehicles, and has been a partner of the ministry in the production of heavy and medium tactical trucks. Dishman said he looked forward to expanding partnership with Egypt.The minister also met with the representative of General Precision Machinery Dynamics who expressed interest to partner with Egypt.

Source:Egypt Today

February 19, 2019 17:03 UTC


Cairo University president opens Faculty of African Graduate Studies

Cairo University President Mohamed Othman el-Khosht inaugurates the new Faculty of African Graduate Studies - Press photoCAIRO - 19 February 2019: As Egypt has received the presidency of the African Union earlier in February, Cairo University President Mohamed Othman el-Khosht inaugurated the new Faculty of African Graduate Studies after turning it from an institute to a faculty.Khosht held a meeting with the faculty's board to discuss ways of developing the college in order to meet the objectives for which it was established, which serve the African continent.During the meeting, Khosht reviewed the national plans concerning Africa to be able to link the research and studies conducted by the college with the policies of the Egyptian state.Egypt's Al-Azhar announced raising the number of educational programs and scholarships granted to African students by 100 percent.According to a statement issued by Grand Imam of Al-Azhar Ahmed al-Tayeb on Feb. 12, this decision comes in conjunction with Egypt’s receiving the chairmanship of the African Union Assembly of Heads of State and Government.According to recent statistics mentioned by the statement, Al-Azhar welcomes 6,108 students from the MENA region, 16,384 students from Asia, 405 students from America and Australia and 4,748 students from Africa.In January, Egypt’s Minister of Health Hala Zayed unveiled an Egyptian initiative to treat African people from Hepatitis C, starting with the Nile Basin countries that have an estimated 3.7 million hepatitis C patients, representing 30 percent of the total number of infected people in Africa.

Source:Egypt Today

February 19, 2019 16:52 UTC


Egypt, Russia to set up company to operate Russian industrial zone

FILE - Head of the Suez Canal Authority and the Suez Canal Economic Zone (SCZone) Mohab MameshEstablishing Russian Industrial Zone in Egypt comes into force CAIRO - 1 February 2019: President Abdel Fatah Al Sisi issued decree No. 420 of 2018 approving an agreement between the governments of Egypt and Russia concerning the establishment and operation of the Russian Industrial Zone in the Suez Canal Economic Zone in Egypt, which was signed in Moscow on May 23, 2018. CAIRO – 19 February 2019: Chairman of the Suez Canal Authority (SCA) and General Authority for Suez Canal Economic Zone (SCZone) Mohab Mamish announced reaching an agreement with the Russian Export Center to establish a company to operate and administer the Russian industrial zone in Port Said before April.Mamish discussed with the Russian side the need for a joint committee to conduct the work and follow-up what is being carried out and implemented within the project.“The Egyptian-Russian Joint Committee represented in the Economic Commission and the Russian Export Center will be held on a bi-monthly basis, between Cairo and Moscow, to follow up the developments and implement the procedures for establishing the company until completion,” Mamish added.He added that the Russian side agreed to offer all required assurances to guarantee the new company will administer the zone project.Mamish also referred that SCzone agreed to Russia's request to prepare the land necessary for establishing the project which is expected to provide 35,000 job opportunities.During his visit to Russia, Mamish attended a workshop in the presence of the representatives of about 200 major Russian firms interested in investment in the projects.Havel Solar is among the companies that participated in the workshop as it is considered an integrated solar energy consortium seeking to find solutions to electricity problems in remote areas and industrial zones.The chairman of the Suez Canal Authority also witnessed the signing of eight memoranda of intent with the Russian Exports Center in the areas of fertilizers, petrochemicals, modern irrigation systems and the establishment of solar power plants.

Source:Egypt Today

February 19, 2019 16:41 UTC


Vodafone to distribute profits of LE5.5B to Telecom Egypt

REUTERS/Sergio Perez/File PhotoCAIRO – 19 February 2019: Egypt Telecom and Vodafone Egypt signed an agreement in the field of messaging, infrastructure and distribution of profits in the presence of Minister of Communications Amr Talaat.Talaat elaborated that the first agreement is about the distribution of profits of Telecom Egypt at Vodafone, which amounts to LE 5.5 billion. "We have reached an agreement with Vodafone International regarding Telecom Egypt's share of the profits, which we consider an important step. Telecom Egypt plan includes the use of cash flows from distributions to repay all loans in Egyptian pounds to reduce financing costs and increase profitability, in addition to the continuation of strategic investment, which will positively affect the Egyptian telecommunications market," Managing Director and CEO of Telecom Egypt Adel Hamed said.For his part, Vodafone Egypt's Chief Executive Officer Alexander Froman said that the confidence of the government and the Board of Telecom Egypt in investing in Vodafone Egypt reflects Vodafone's strength and success. "We believe that the distribution of profits to Telecom Egypt as a shareholder in Vodafone Egypt will help build a strong infrastructure in Egypt," he added.Telecom Egypt allocates 45 percent of Vodafone shares.Telecom Egypt operates within the telecommunication services sector focusing on integrated telecommunication services. It has 17 subsidiaries operating across British Islands, Western Europe, Northern Africa and Middle East, while Vodafone operates within the telecommunication services sector focusing on wireless telecommunication services.

Source:Egypt Today

February 19, 2019 16:30 UTC


Italian Companies seek to invest in Egypt

FILE – Minister of Investment and International Cooperation Sahar NasrCAIRO – 19 February 2019: A number of Italian companies expressed their desire to expand their investments in Egypt and to enter into new investment projects in the fields of renewable energy, transport and industry.The Italian companies expressed their desire during several meetings held with Minister of Investment Sahar Nasr during her visit to Rome.This desire came as a result to the recent legislative reforms which contributed to providing the suitable climate for investments in Egypt, as Egypt is a gateway to the African continent especially in light of its presidency of the African Union (AU), an official statement revealed.The minister met Chairman of Italgen Giuseppe de Beni, where the company's investment in renewable energy was discussed. The minister welcomed the Italian company's desire to invest in new and renewable energy projects in Egypt.She also referred to the coordination with the Ministry of Electricity to increase investments in this area in the context of the State's growing interest to exploit Egypt's huge resources and to produce electricity from renewable energy, diversifying sources of energy and ensuring sustainability.The minister also discussed with Managing Director of Maccaferri Group Andrea Vinnytsia increasing the group's investments in Egypt in the field of infrastructure. Vinnytsia explained that the group is an Italian multisectoral group investing in renewable energy, environment, food and agriculture, and real estate, in about 100 countries.In a similar vein, the minister stressed that the government encourages the private sector to inject new investments in the field of infrastructure as it is the cornerstone of development.The minister met with Head of the Italian company Getra Marco Zigon, who explained his company's desire to increase its investments in Egypt through establishing partnerships with Egyptian energy companies.She discussed with Giovanni Rocca, first vice-president of Ferrovie dello Stato Italiane, which is responsible for the operation of the Italian railway network, cooperating in investing in the development of the transport sector in Egypt.Nasr clarified that the Egyptian government welcomes Italian firms, wishing to put their money into the country's renewable energy, transport and industrial projects.

Source:Egypt Today

February 19, 2019 16:30 UTC


EGX ends Tuesday on mixed note, market cap. loses LE 1.59B

FILE – EGXCAIRO - 19 February 2019: The Egyptian Exchange (EGX) ended Tuesday’s session on mixed note, and market capitalization lost LE 1.59 billion, amid foreign selling.The benchmark EGX30 decreased 0.47 percent, or 71.4 points, to close at 15,155.84 points.Meanwhile, the equally weighted index EGX50 dropped 0.31 percent, or 7.52 points, to reach 2,445.25 points.On an opposite direction, the small and mid-cap index EGX70 hiked 0.12 percent, or 0.89 points, to 721.9 points, and the broader index EGX100 rose 0.05 percent, or 0.94 points, to close at 1,822.37 points.Market capitalization lost LE 1.59 billion, recording LE 836.42 billion, compared to LE 838.01 billion in Monday’s session.The trading volume reached 268.28 million shares, traded through 28,028 transactions, with a turnover of LE 962.33 million.Foreign investors were net sellers at LE 69.89 million, while Egyptian and Arab investors were net buyers at LE 42.62 million and LE 27.27 million, respectively.Egyptian, Arab and foreign individuals were net buyers at LE 30.31 million, LE 14.32 million, and LE 11.23 million, respectively.Foreign organizations sold at LE 81.12 million, while Egyptians and Arab organizations bought at LE 12.31 million, and LE 12.95 million, respectively.National Drilling, Assiut Islamic Trading, and Egyptian Arabian (cmar) Securities Brokerage EAC were top gainers of the session by 9.01 percent, 7.37 percent and 6.50 percent, respectively.Meanwhile, Rubex International for Plastic and Acrylic Manufacturing, Modern Company for water proofing (Bitumode), and GB AUTO were top losers of the session by 9.24 percent, 4.82 percent, and 3.83 percent, respectively.

Source:Egypt Today

February 19, 2019 16:18 UTC


Cairo University to train 5K African students to be leaders: Khosht

FILE - President of Cairo University Mohamed el-KhoshtCAIRO – 19 February 2019: “Cairo University is planning to train more than 5,000 African students through training courses initiated by the Faculty of African Studies at the university,” President of Cairo University Mohamed el-Khosht, told Egypt Today Tuesday.“These training courses aim to teach African students how to think and lead in the political field without prejudice to any belief or any political, societal or religious view,” he added.In November 2018, President Abdel Fatah al-Sisi called for the establishment of an African Youth City in Egypt as part of the recommendations of the second edition of the World Youth Forum. This came during a session titled, “How do we build future leaders? ".The city, Sisi explained, would not only allow African youths to participate in international conferences in Egypt but will also receive African youths throughout the year.The aim of establishing the Youth City of Africa in Egypt is to talk with the youth of the African continent and to qualify them for leading positions, explained the Egyptian president.In February 2019, Al-Azhar announced raising the number of educational programs and scholarships granted to African students by 100 percent.According to a statement issued by Grand Imam of Al-Azhar Ahmed al-Tayeb on Feb. 12, this decision comes in conjunction with Egypt’s receiving the chairmanship of the African Union Assembly of Heads of State and Government.Additional report with Lolwa Reda

Source:Egypt Today

February 19, 2019 16:18 UTC


Sadat's peace initiative proves Egyptians believe war is not the goal: Sisi

President Sisi receives the American delegation that supported bestowing Golden Congressional Medal upon late President Sadat - Press photoTrump signs law honoring Anwar SadatCAIRO – 14 December 2018: U.S. President Donald Trump signed a law honoring former Egyptian President Anwar Sadat Friday, on the 100th anniversary of his birth. CAIRO - 19 February 2019: Egypt's President Abdel Fatah al-Sisi received on Tuesday the members of the American committee that supported bestowing the Golden Congressional Medal upon late President Mohamed Anwar al-Sadat.President Sisi hailed the efforts of the committee members in communicating with the US Congress, adding that granting Sadat the Golden Congressional Medal represents recognition of his historic contribution toward peace in the Middle East, presidential spokesman Bassam Radi said.During his meeting with the American delegation, Sisi affirmed that Sadat's peace initiative affirmed that Egyptian people recognize that war is not the goal and appreciate peace and security.He added that such award highlights the important role Egypt played in establishing peace and stability in the Middle East.Members of the American delegation expressed their happiness with awarding the Congressional Medal to the late president, as it is considered to be the highest American civil award bestowed on great leaders including George Washington, Winston Churchill, Nelson Mandela, and Ronald Reagan, the spokesman continued.The delegation also praised Egypt's role in establishing peace and stability in the Middle East, and expressed deep appreciation for Sisi's current efforts to promote tolerance, peace and coexistence, according to Radi.The members congratulated Sisi for the opening of the largest mosque and cathedral in the Middle East in Egypt's New Administrative Capital, saying that it reflects the historic coexistence of religions in Egypt.For his part, Sisi said that sustainable peace has to be just and comprehensive, adding that it also has to meet the legitimate demands of people, and to be based on the popular will, Radi said.Concerning the Palestinian cause, Sisi said that resolving the issue and achieving peace in the Middle East would open the door for developing the region, and achieving security for its peoples.Sisi also stressed the importance of strategic relations between Egypt and the United States, praising the two countries' keenness to develop these relations and strengthen cooperation in all fields, Radi added.

Source:Egypt Today

February 19, 2019 16:07 UTC


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