Elsewedy Electric, Arab Contractors sign $2.9bn contract for power plant in Tanzania - Daily News Egypt
The contract is worth $2.9bn and is financed through the direct funding of the Tanzanian government. The entire project will be executed under one integrated project management organisation with the responsibility of the joint venture, in which Elsewedy Electric holds 45%, and Arab Contractors holds 55%. The power plant will start producing energy by April 2022, with project completion expected within 36 months after a six-month mobilisation period, and it will have an installed capacity of 2,115MW, that is expected to more than double Tanzania’s power generation capacity. In 2017, the Tanzanian ministry of energy issued an international tender for the power plant, which is located approximately 200 km south west of Dar es Salaam, Tanzania’s commercial and administrative centre, where the signing ceremony was held on Wednesday. Ahmed El Sewedy, CEO of Elsewedy Electric said, “The Tanzanian People can count on the Egyptian joint venture.
Source:Daily News Egypt
December 13, 2018 07:04 UTC
US seeks to counter growing Chinese influence in Africa
WASHINGTON (AP) — The Trump administration wants to see an increase in US investment and trade in Africa as part of a new strategy aimed at countering China’s growing influence on the continent. “We must remain a positive alternative and make clear that engaging with the United States will mean greater prosperity and security for Africa,” Nagy said. Any renewed US effort to counter China in Africa, however, will face some obstacles. Whatever the Trump administration’s new Africa strategy, perceptions are an immediate hurdle. His first tweet as president that mentioned Africa was an inaccurate claim about alleged white-owned farm seizures in South Africa.
Source:Egypt Independent
December 13, 2018 05:48 UTC
World Darts Championship: Two women to make history at 'Ally Pally' - Daily News Egypt
That's why you won't see any scantily clad "walk-on girls" accompanying the players onto the Ally Pally stage at this year's event. Ashton has been drawn against Jan Dekker, a two-time semifinalist in the BDO World Darts Championship in the first round. Dobromyslova isn't in action in the Ally Pally until Monday, when she faces 33-year-old Englishman Ryan Joyce. Whoever wins the final at Ally Pally on January 1 will go home with a handsome £500,000 (€550,000, $633,000) in their pocket. "The men that play the women in the World Championship this year are under the cosh," PDC chairman Hearn said.
Source:Daily News Egypt
December 12, 2018 23:48 UTC
Bayern Munich and Ajax deliver six-goal thriller on memorable European night - Daily News Egypt
Ajax enjoyed more of the ball in the early stages, but it was Bayern who struck first. 2-2 Bayern (Lewandowski) The Pole hesitates, but then sends Onana the wrong way to stun the crowd. 2-1 Ajax (Tadic) Neuer stands still, Tadic goes top right and Ajax go top of the group. 1-1 Ajax (Tadic) And now Bayern have been burned! A really good game here.
Source:Daily News Egypt
December 12, 2018 23:15 UTC
Egypt’s military kills dozens of ‘dangerous’ militants, arrests hundreds in Sinai ‘18 operations - Daily News Egypt
The Egyptian armed forces announced its recent results of the comprehensive military operation ‘Sinai 2018’ on Wednesday. The operation aims to combat terrorism and confront militants in central and north Sinai, the Nile Delta region, and the Western Desert. In statement No 30, the military said that three “very dangerous militants” were killed in the Western Desert, adding that another 24 “extremist militants” were also killed in a fire exchange with security forces. The armed forces pointed out that the military’s engineers succeeded in discovering and disarming 344 explosive devices, which were planted to target the security forces on the roads where the operations were carried out. Since October 2014, a state of emergency has been declared in north Sinai.
Source:Daily News Egypt
December 12, 2018 22:18 UTC
German band Kraftwerk gets boost on 'sampling' copyright case - Daily News Egypt
After a decades-long dispute, an EU advocate general has said that sampling is only permissible when the author approves. "Sampling" is a technique that extracts bits of another work, such as a rhythmic sequence, and incorporates them into a new composition. Striking a balanceFirst going through the rounds of German courts, in 2016, Germany's Federal Court of Justice referred the lawsuit to the ECJ. Szpunar's conclusion that copyright holders must grant approval for sampling is in line with the European Union's fundamental rights, even though copyright and related rights "are likely to restrict the exercise of certain fundamental rights, in particular, the freedom of expression and the freedom of the arts," he said in a press release. "Intellectual property is itself protected as a fundamental right to property," he pointed out.
Source:Daily News Egypt
December 12, 2018 22:18 UTC
Trump ex-lawyer Cohen given 3 years in prison, blames 'blind loyalty'
Trump has denied the affairs and any involvement in the payments.Pauley sentenced Cohen to 36 months for the payments and to two months for Cohen's lies to Congress about a proposed Trump Tower project in Russia. After being sentenced, Cohen walked over to his daughter and kissed her head.Cohen's father, Maurice Cohen, who showed little emotion during the hearing, later told reporters: "My heart is ripped. "Cohen is a former member of Trump's inner circle who in the past called himself the president's "fixer." After Cohen pleaded guilty to the Mueller charges on Nov. 29, Trump called his former lawyer a liar, "a weak person and not a very smart person. ... Michael Cohen was sentenced today, President Trump is next.
Source:Egypt Today
December 12, 2018 19:18 UTC
China makes first major buy of U.S. soybeans since Trump-Xi meet
A second trader with direct knowledge of the deals said Chinese state-owned firms bought at least 12 cargoes for shipment between January and March. "China was buying right out of the gate this morning. The most actively traded January contract climbed as high as $9.28 per bushel as traders cautiously cheered the purchases. But this year, it has relied on Argentina and top exporter Brazil for most of its soybeans used to feed the world's largest pig herd. "The Chinese evidently want the beans quickly as they have not been able to cover all their needs in South America," the European trader said.
Source:Egypt Today
December 12, 2018 18:33 UTC
Sisi says govt determined to proceed with state-building process
FILE- Egypt’s President Abdel Fatah al-SisiCAIRO – 12 December 2018: President Abdel Fattah El Sisi stressed on Wednesday that the government is determined to go ahead with the state-building process.During a meeting with heads and representatives of several regional and international investment funds in Cairo, the president said that development projects in Egypt are now in the construction process.He thanked the Egyptian people for the awareness of the necessity of the serious economic reform decisions taken in the past period, presidential spokesman Bassam Rady said.The president spoke of the various investment opportunities currently available in Egypt and measures taken by the government to attract new investors into the country.He further talked about the State's efforts to develop infrastructure and establish mega projects.Governor of the Central Bank of Egypt Tareq Amer, as well as Minister of Investment and International Cooperation Sahar Nasr and Minister of Finance Mohamed Maait attended the meeting.
Source:Egypt Today
December 12, 2018 18:00 UTC
10 Indian automobile companies participating in Autotech exhibition - Daily News Egypt
A delegation from the Engineering Export Promotion Council of India (EEPC India), comprising of around 10 Indian automobile components’ companies, is participating in the Autotech 2018 exhibition, which will be held at Cairo International Convention Centre from 14-16 December 2018, according to a Wednesday statement. The Indian companies will showcase India’s original equipment manufacturers’ (OEM) capabilities at the ‘Autotech 2018’ exposition, explore Egyptian and North African markets, and identify areas of mutual cooperation, said the statement. The Indian auto-components industry is set to become the third largest in the world by 2025, noted the statement, adding that the exports from this sector grew by 23% in the fiscal year (FY) 2017/18. Exports of these products are likely to range between from $80bn to $100 bn by 2026. India is Egypt’s 10th largest trading partner, 7th largest importer of Egyptian goods and the 11th largest exporter to Egypt, affirmed the statement.
Source:Daily News Egypt
December 12, 2018 17:15 UTC
Al Ahly Holding signs $1bn deal with Al Ghurair Group, Murban to reclaim 180,000 feddan, establish world's largest beet sugar factory - Daily News Egypt
Al Ahly Capital Holding, the investment arm of the National Bank of Egypt, successfully completed a $1bn deal with Al Ghurair Group and the UAE’s Murban, to reclaim and cultivate 180,000 feddan in south Minya, in order to establish the world’s largest beet sugar factory. The project is an integrated agricultural and industrial project, which includes the reclamation of 180,000 feddan to cultivate beet, wheat, and maize. The project will also establish the world’s largest beet sugar factory, with a capacity of 1m tonnes per year, significantly contributing to bridging the consumption and production gap, which amounted to 1m tonnes in 2018. According to Al Ghurair, the project will provide 2,500 direct and indirect jobs during the construction period, as well as 1,500 permanent jobs, and 50,000 indirect jobs through contractual agriculture. Al Ahly Capital Holding is the financial advisor to the project.
Source:Daily News Egypt
December 12, 2018 16:30 UTC
MP collects signatures of 200 members to omit religion from National ID Card - Daily News Egypt
About 200 parliament members signed a petition on Tuesday to express support for a draft law submitted by another fellow member, Ismail Nasr El-Din, in order to omit the religion field from the National ID card. These signatures were collected by Nasr El-Din who previously affirmed that he will insist on the bill until the parliament’s administration approves its discussion in a plenary session. Earlier in November, the member drafted a law to fight societal discrimination by calling on the government to omit the religion field from the national ID card. He also said that it is not appropriate to have a religion field in the National ID, but it is important to be included in birth and marriage certificates. Every citizen must hold at all times Egypt’s National ID card, which will include basic information about individuals including age, occupation, place of residence, marital status and religious affiliation.
Source:Daily News Egypt
December 12, 2018 16:30 UTC
Shoukry heads to Riyadh to partake in Red Sea’s riparian countries’ meeting - Daily News Egypt
Egypt’s Foreign Minister, Sameh Shoukry, headed to the Saudi capital, Riyadh, on Tuesday to participate in a ministerial meeting of Arab and African countries bordering the Red Sea, according to the ministry. The meeting is part of a series of sessions held to address strengthening the joint cooperation and coordination between the Red Sea’s riparian countries in different fields, the ministry added. The countries’ representatives are also expected to address new methods in order to face the joint challenges and threats in the Red Sea, including countering terrorism and organised crime. At that time, Egypt launched a new initiative to establish a framework between the concerned countries, during a conference called ‘Peace, Security, and Prosperity in the Red Sea: Towards an Arab-African Regional Cooperation Framework’, which was held in Egypt. Top representatives from Saudi Arabia, Jordan, Sudan, Yemen, Djibouti, and Eritrea attended the meeting.
Source:Daily News Egypt
December 12, 2018 16:30 UTC
EDA signed MoU with ITFC to support cooperation in trade development - Daily News Egypt
The meeting was attended by high-profile officials from both the ITFC and the Egyptian Export Development Authority (EDA), in addition to numerous representatives from the regional and international development agencies including United Nations Economic Commission for Africa (UNECA) and African Association of Essential Drugs National Purchasing Centres (ACAME). The opening ceremony witnessed the signing of a Memorandum of Understanding (MoU) to support cooperation in trade development and promotion, between the Egyptian Export Development Authority, represented by Dr Shirin Al-Shorbagi chairperson of the EDA, and the International Islamic Trade Finance Corporation, represented by its CEO, Hani Salem Sonbol. He also mentioned that ITFC through AATB programme, and in collaboration with financial institutions, will facilitate the intra-African trade and the Arab-Africa trade to reach financial solutions. Moreover, he added that the ITFC is not only the International Trade Finance Corporation, rather it is a corporation to develop trading in African and Islamic countries. Furthermore, she added that minister of investment and international cooperation Sahar Nasr has achieved quite a substantial role in cooperating with them.
Source:Daily News Egypt
December 12, 2018 16:30 UTC
Parliament’s religious affairs committee approves in principle draft law to regulate ‘fatwa’ - Daily News Egypt
The parliamentary committee of religious affairs and endowments, headed by Osama Al-Abd, approved in principle a draft law, submitted by committee member MP Omar Hamroush, on Tuesday, to regulate the issuance of fatwa (edict) in Egypt. The committee also approved another draft law to regulate the work of Dar Al-Ifta, Egypt’s principal Islamic legal institution for issuing a fatwa, which was submitted by Al-Abd. Egypt has been attempting to regulate the issuance of edicts as it lacked verification from the concerned religious institutions. In Egypt, Dar Al-Iftaa, under the ministry of justice, is the official institution devoted to issuing fatwas, along with Al-Azhar’s clerics, based in nationwide offices. The parliament’s move came to settle the division between Egypt’s top religious institutions Al-Azhar and the ministry of endowment, as each entity believes that it has the right to issue a fatwa.
Source:Daily News Egypt
December 12, 2018 16:30 UTC