Police arrests 13 alleged brotherhood members in Alexandria - Daily News Egypt

The Ministry of Interior released a statement on Friday in which it declared that it arrested 13 Muslim Brotherhood members, allegedly affiliated with the group’s military wing, while they were holding a meeting in an educational centre in Alexandria. According to the statement, the police raid against the centre in Alexandria came after security forces received information that they were planning to hold meetings for the sake of restructuring the brotherhood’s military wing. Kamal, 61, a senior leader of the brotherhood was killed at his residence at the beginning of October, during a raid conducted by interior ministry forces. Kamal was accompanied by a teacher named Yasser Shehata, who was also killed in the incident. Recently, the ministry executed numerous raids against what it called stationing points for brotherhood gatherings, where it either arrested or engaged in heavy shootings with the targeted members that caused many deaths among those targeted.

March 25, 2017 15:22 UTC

Launch of healthcare investment conference on 8 April - Daily News Egypt

He added that the conference aims at creating a unified vision for the sector in Egypt, Africa, and the Middle East. Samir said that Darwish will hold a speech during the opening session of the conference on how investment is attracted to the health sector in Egypt and on the role of the Suez Canal economic zone in attracting investments. The conference will also shed light on the performance of the Egyptian economy in the recent period and in the future. It will also shed light on entrepreneurs and innovators in the industry, in addition to how to manage assets of health care, medical tourism, and modern management. The third day will see the broad presence of the financial sector, along with discussions on the merging operations and acquisitions in the health care sector, investment funds in the sector, and expansion and financial planning operations.

March 25, 2017 15:22 UTC

Syndicate leaders to appeal verdict before Cassation Court - Daily News Egypt

Members of the Press Syndicate asserted on Saturday that they will appeal before the Cassation Court against the verdict issued by a Cairo misdemeanours court, sentencing syndicate leaders to a suspended one-year prison term. “We will appeal the verdict at the Cassation Court,” El-Balshy told reporters at the syndicate following the verdict on Saturday. “We were defending the cause of press freedom and this syndicate,” he added. We should be very aware of this campaign against press freedom, and reject it,” Badr told reporters Saturday. Commenting on the verdict, Abdel Hafiz said, “we used to think that freedoms hit rock bottom under the Mubarak regime, but apparently things got much worse.

March 25, 2017 15:11 UTC

Foreign direct investment in Egypt adds up to $6.8 for last year: Sahar Nasr

Egypt’s Investment and International Cooperation minister Sahar Nasr said that net foreign direct investment in Egypt during the fiscal year 2015-2016 amounted to $6.8 billion, compared to $6.4 billion in the fiscal year 2014-2015, due to the increase in the net inflow of incoming investments to establish companies and increase in company capital, which amounted to $4.5 billion dollars. She added that the net foreign direct investment reached $4.3 billion during the first half of the fiscal year 2016-2017, compared to $3.1 billion during the corresponding period of fiscal year 2015-2016. Finance Minister Amr el-Garhy said on Monday that Egypt is expecting foreign direct investment to increase to $13-15 billion in the 2017-18 fiscal year, after a currency flotation in November revived investors' interest in the country.

March 25, 2017 15:11 UTC

EGP 16bn allocated to wheat purchase: minister - Daily News Egypt

The Ministry of Finance allocated EGP 16bn to the General Authority for Supply Commodities (GASC) to buy 4 million tonnes of local wheat at a price ranging between EGP 555 and EGP 775 per ardeb (5.62 US bushels), according to Minister of Supply and Internal Trading Aly Meselhi. In a related context, Meselhi said that there are 55.5 million ration cards with confirmed data, along with 6 million cards with unconfirmed data. He noted that the six million cards represent 19 million beneficiaries, pointing out that the ministry has filtered 301,000 cards since the initiative was launched earlier this month. He noted that Egypt cannot cultivate over 1.1 million feddans (1.142 million acres) of rice, due to the current water problems. In another context, he said that Egypt consumes 3.3 million tonnes of sugar, while it produces 2.2 million tonnes.

March 25, 2017 15:11 UTC

Militants in Al-Arish blow up Al-Azhar educational building - Daily News Egypt

Anonymous militants blew up on Saturday morning an Al-Azhar educational building in North Sinai’s Al-Arish, by using improvised explosive devices (IEDs), local media outlets reported. According to a local journalist in North Sinai who preferred to keep his identity anonymous, numerous IEDs were planted in the building by militants believed to be members of the IS-affiliated group “Sinai Province”. The militants targeted the building because it was used by the army and police to monitor and track the whereabouts of militants. The building was blown up remotely, and the subsequent explosion completely annihilated the building, the journalist added. They targeted the building to prevent security forces from using it as a stationing point to monitor the militants’ movements,” he explained.

March 25, 2017 15:00 UTC

Egypt resumes meat and poultry imports from Brazil

Egypt’s Ministry of Agriculture and Land Reclamation announced on Saturday the resumption of imports of meat and poultry products from Brazil. The ministry said in a statement that the resumption of importing these products would be from the slaughterhouses approved by Egypt’s General Organization for Veterinary Services (GOVS). The statement stressed that these slaughterhouses must be approved by Egypt’s GOVS. The ministry had announced its decision to delay imports of meat and poultry products from Brazil after the Brazilian authorities suspended 33 government officials from work in a wide-scale crackdown on charges of selling rotten processed meat and poultry. Three meat plants were also closed on the same charges; and 18 other factories that export products to Egypt were placed under supervision.

March 25, 2017 15:00 UTC

Norway in top spot, Central African Republic last in World Happiness Report - Daily News Egypt

Moving three places from last year, Norway now ranks as the world’s happiest country, while the Central African Republic is the world’s least happy country at the 155th spot, according to the “World Happiness Report 2017”. On the other hand, Egypt took the 104th place, jumping 16 places from its previous ranking in the 2016 report and the 9th spot in Africa, while Algeria ranked first in the continent. The World Happiness Report measures the social foundations of happiness and subjective wellbeing, based on three main aspects. First is “Life Evaluation”, which gives a reflective assessment on a person’s life or some specific aspect of it. The last criterion is “Eudaimonia”, which is a sense of meaning and purpose in life or good psychological functioning.

March 25, 2017 14:37 UTC

$4.3bn net FDI during the first half of 2016/2017: Nasr - Daily News Egypt

Egypt has managed to attract net foreign direct investments (FDI) of $4.3bn during the first half of fiscal year (FY) 2016/2017 by the end of December, compared to $3.1bn during the same period in FY 2015/2016, said Sahar Nasr, Minister of Investment and International Cooperation. On Saturday, Nasr has laid the foundation stone for the investment services branch in Qena in order to facilitate the procedures for investors in Qena and several governorates nearby. There are five offices affiliated to the General Authority for Investment (GAFI), and nine representative offices that provide investment services in several governorates. Nasr said that establishing new branches for the investment services complex is underway. According to Nasr, Egypt ranked 29th in the foreign direct investment (FDI) index among 58 other countries.

March 25, 2017 14:03 UTC

Egyptian exports to UAE and Turkey increased by 19% in 2016 while imports declined - Daily News Egypt

According to Minister of Trade and Industry Tarek Kabil, Egyptian exports to the United Arab Emirates (UAE) and Turkey achieved a major breakthrough in 2016, registering $1.443bn, up from $1. Also, Egyptian imports from Turkey decreased by 12.9% from $3.125bn in 2015 to $2.733bn in 2016, reducing the trade deficit by $619m to reach $1.290bn in 2016, compared with $1.909bn in 2015—a 33% decline. In the UAE’s case, Egyptian exports increased by 125% in 2016 to reach $2.4bn from $1bn in 2015. The report has pinpointed that the witnessed increase during 2016 in Egyptian exports to the both Turkey and the UAE was the result of the promotional efforts for commercial representation offices to introduce Egyptian products to the Turkish and Emirati consumers. In the near term, Egypt targets boosting cotton yarns, medical supplies, tyres, and agricultural waste exports to Turkey, said Antar.

March 25, 2017 14:03 UTC

EU leaders affirm unity in Rome - despite Brexit and protests

Leaders of the European Union met in Rome on Saturday to celebrate the 60th anniversary of the bloc's founding treaty and demonstrate that the EU can survive the impending departure of major power Britain. The unity of Europe is not a bureaucratic model. It has also amplified the petty frictions among the more than two dozen national governments and obliged leaders' aides to water down a grand birthday declaration of unity. At the Vatican on Friday, Pope Francis told EU leaders that their Union had achieved much in 60 years but that Europe faced a "vacuum of values". Report by Jan Strupczewski and Isla Binnie (Rome); Writing by Alastair Macdonald; Editing by Crispian Balmer; Reuters

March 25, 2017 13:30 UTC

CPA bans UBER advertising campaign in Egypt

The Consumer Protection Agency (CPA) has ordered UBER to stop all its affiliate ads as they were found to violate the common feelings and taste of the community; the company was ordered to immediately remove advertisements from the streets and major squares. He added that immediately after the ads were monitored, the CPA called the company and notified it to stop the campaign. The company pledged to stop all ads in the campaign, and withdrew its billboards from the streets and squares. Yaqoub said that the CPA responds to the type of advertising that uses words or contains content promoting activities or products in violation of the traditions and common tastes of society; and lacks respect for ethical values. He stressed the need to codify the mechanisms of presentation and production of advertising materials, to address any breach.

March 25, 2017 12:33 UTC

Private sector acquires 66.3% of total bank loans to clients by December: CBE - Daily News Egypt

The CBE mentioned in a report that the loans granted to the private sector represented 55.3% of total loans provided by the five largest banks to their clients, while it recorded 59.6% at the ten largest banks. These loans recorded 3.4% at the five largest banks operating in Egypt, while they reached 3.7% for the ten largest banks. It recorded 52.1% at the five largest banks, and 53.2% at the ten largest banks. This ratio recorded 71.6% at the five largest banks, and 70.8% at the ten largest banks. This ratio recorded 66.8% at the five largest banks and 68.7% at the ten largest banks.

March 25, 2017 12:00 UTC

NBE, Banque Misr extend working hours to collect taxes electronically - Daily News Egypt

Both Banque Misr and the National Bank of Egypt (NBE) have decided to extend their working hours across the country to collect taxes electronically. NBE has decided to extend working hours in 59 branches until 5.00pm during the period from 27 March to 31 March and the period from 24 April to 28 April to enable the branches to offer the services of collecting taxes, without carrying out any other banking activities. Banque Misr has also decided to extend working hours in 75 of its branches until 7:00 pm during the period from 22 March until 30 March, and the period from 23 April to 30 April 2017. Banque Misr allows electronic payment of taxes and customs through 297 branches spread across the governorate in cooperation with officials responsible for electronic payment of financial government institutions. According to the bank, it aims to spare clients from risks, as well as facilitate the process of paying tax and custom dues.

March 25, 2017 12:00 UTC

'Two charged' over arms supply to Paris Orly airport attacker

French anti-terrorism judges have charged two men suspected of involvement in supplying a weapon to the gunman killed at Paris's Orly airport after attacking soldiers, a judicial source said Saturday. The younger one was also charged with arms possession related to a terror plot. They are both from the Paris area and lived close to the assailant, Ziyed Ben Belgacem, according to a preliminary investigation. Ben Belgacem, 39, was under the influence of drugs and alcohol when he attacked the capital's second busiest airport, according to judicial sources. In mid-February, a machete-wielding Egyptian man attacked a soldier outside Paris's Louvre museum, injuring him slightly, before being shot and wounded.

March 25, 2017 10:07 UTC

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