Detention of three officers renewed over killing of man in Al-Haram police station - Daily News Egypt

The Southern Giza Prosecution renewed on Wednesday the detention of three police officers to seven days, on accusations of torturing a man to death in Al-Haram police station, as well as forcefully detaining him. The director of Al-Haram police station was summoned for investigations by the prosecution. The victim, 26-year-old conscript Mahmoud Sayed, was arrested alongside his brother on charges of murdering and robbing their grandmother. On Tuesday, the Prosecutor General ordered a periodical campaign to look into the status of prisoners detained pending investigations. He assigned members of the prosecution to administer this process and make it a regular procedure to search police stations and prisons for such detainees.

March 22, 2017 14:37 UTC

Egypt targeting US$9 billion in foreign financing in FY 2017/18

Egypt is targeting US$9 billion in foreign financing in the 2017/18 fiscal year, Deputy Finance Minister Ahmed Kouchouk told Reuters on Wednesday. The financing will be divided between US$3 billion obtained from debt markets and US$5 billion to US$6 billion from international finance institutions, he said. Kouchouk said the US$3 billion from debt markets could come in the form of Eurobonds denominated in dollars or other currencies as well as Sukuk. He did not say when Egypt was likely to tap debt markets during the coming fiscal year, which begins in July. Egypt raised US$4 billion in sales of Eurobonds earlier this year at lower-than-expected yields, with demand for the bonds high.

March 22, 2017 14:26 UTC

Egyptian woman to be first karate player in wheelchair in Middle East

Mourad negotiated with her friend’s coach who then asked her to join the karate team. “I told him it’s impossible; I’m in a wheelchair and cannot do karate,” she said. She is currently working on a karate training course and hopes to become the first wheelchair-bound trainer in the world. “I’ve already formed a small team of karate trainees in wheelchairs but I’m hoping to expand it to become the first coach to a karate team for wheelchair-bound players,” she said. The Egyptian Olympic team was selected a one week before travelling, and no one with a local rank was chosen.

March 22, 2017 14:15 UTC

Nasr negotiates for 3rd tranche of World Bank’s loan - Daily News Egypt

Minister of Investment and International Cooperation Sahar Nasr held a meeting with the World Bank’s delegation that is currently visiting Egypt to negotiate the third tranche—worth $1bn—of the bank’s $3bn loan. The minister stated that Egypt targets implementing reforms to improve the economy and investment climate to improve the rank in the next report, in order to consider Egypt as an emerging economy. Additionally, reforms are being implemented to enhance the private sector’s abilities to increase its investments in the market. The meeting comes after Egypt has received the second tranche of the loan on 20 March, which means that Egypt is taking serious steps towards inclusive development, Nasr noted. The bank’s strategy is to provide $6bn to cover the time from 2015 to 2019.

March 22, 2017 13:41 UTC

EBRD is studying financing five feed-in tariff projects in its 2nd phase - Daily News Egypt

Janet Heckman, managing director for the Southern and Eastern Mediterranean (SEMED) region at the European Bank for Reconstruction and Development (EBRD), said that the bank is currently studying to finance five projects in the second phase of the feed-in tariff projects starting from the second half of this year. Heckman told Daily News Egypt that the bank refused to finance the first phase of the feed-in tariff projects due to the domestic arbitration clause, as they wished it to be outside Egypt. According to Heckman, EBRD is planning to inject investments worth €1bn in Egypt during the current year. She said that the SME financing portfolio at the bank in Egypt recorded $410bn for 5 local banks, of which $150m have been signed last year. She added that the bank is currently studying with a number of Egyptian banks to provide financing lines for SMEs and trade operations.

March 22, 2017 13:18 UTC



81.5% of total water resources in Egypt consumed in agriculture: CAPMAS - Daily News Egypt

The agriculture sector remains the largest consumer of water in Egypt, as it acquired 62.15 billion cubic metres in 2015/2016. In the second ranking comes the drinking and health usage sector, which consumed 10.4 billion cubic metres in 2015/2016, compared to 10.35 billion cubic metres in 2014/2015—an increase of 0.5%. It pointed out that the Nile River is the main source of water in Egypt, where its share reached 55.5 billion cubic metres—representing 72.8% of the total renewable water resources. The report added that the total amount of produced pure water reached 9.30 billion cubic metres in 2015/2016, compared to 8.89 billion cubic metres in 2014/2015—marking an increase of 4.6%. The amount of consumed pure water reached 5.8 billion cubic metres in 2015/2016, compared to 6.1 billion cubic metres in 2014/2015—a decrease of 4.9%.

March 22, 2017 13:18 UTC

Scorched earth: If Islamic State can't have it, no one can

As the Syrian army and allied militias advanced under heavy Russian air cover on the ancient city of Palmyra three weeks ago, Islamic State leaders ordered fighters to destroy oil and gas fields. The March 2 article said operations by Islamic State in the area around Palmyra "prove the massive effect that strikes aimed at the infidels' economy have, confusing them and drawing them ... into battles they are not ready for." However, the article in al-Nabaa suggested Islamic State sees the destruction of tangible economic assets as a greater weapon against the government of President Bashar al-Assad, who is from Syria's Alawite minority. Islamic State has caused about US$30 billion in damage to Iraqi infrastructure since 2014, an adviser to the Iraqi government on infrastructure told Reuters. In Syria, the militants destroyed over 65 percent of the Hayan gas plant, the country's oil minister told the state news agency.

March 22, 2017 13:07 UTC

Swiss watch industry struggling as Baselworld opens - Daily News Egypt

Global exports of Swiss watches have shrunk in recent years. Global exports of Swiss watches slid by 10 percent in February year on year to $1.5 billion (1.4 billion euros). For the whole of 2016, Swiss watch exports shrank by 9.9 percent after contracting 3.3 percent a year earlier. He said the most recent figures showed there was “no underlying improvement in the industry” despite a more upbeat mood from senior executives and a more optimistic tone from the Federation of the Swiss Watch Industry. The trade fair in Basel focusing on watches and jewelry is being held for the 100th time this year.

March 22, 2017 12:45 UTC

The business of wastewater - Daily News Egypt

On this year’s World Water Day, the UN has called for much more wastewater to be treated and recycled. On average in low-income countries, only 8 percent of domestic and industrial wastewater is treated, compared to 70 percent in high-income countries, the report said. For example, phosphorus recovery from wastewater is becoming a viable alternative to increasingly scarce mineral phosphorus reserves. A business opportunityRemoving and recovering phosphorus (and other nutrients, including nitrogen) from wastewater has a double benefit: It prevents hypertrophication of lakes and rivers, and it recuperates a valuable finite resource that’s essential for agriculture. That’s why companies like Vancouver, Canada -based Ostara and Delft, Netherlands -based Lenntech offer technologies for nutrient recovery to municipal or industrial wastewater managers.

March 22, 2017 12:45 UTC

Schweinsteiger lauded for cutting his Premier League losses in MLS switch - Daily News Egypt

World Cup winner Bastian Schweinsteiger has become the latest in a long list of German soccer stars to move to the US. Prominent figures in the game were quick to congratulate him on his transfer to Chicago Fire.An unhappy chapter in the otherwise stellar career of Bastian Schweinsteiger is now history. In just two years at Manchester United, the eight-time Bundesliga champion, World Cup and Champions League winner never progressed beyond the role of nice-to-have squad player. “I wish I could have done more for you but it was time for me to make a change,” he said in a video message directed at Manchester United fans. Manchester United could certainly have still done with him.”Löw added that Schweinsteiger felt at home in big cities, where he could immerse himself in new experiences.

March 22, 2017 12:33 UTC

UK, US ban electronics as carry-on luggage on EgyptAir and other Arab airliners

The UK government has announced an extensive carry-on ban on electronic devices on inbound flights from Egypt and another five countries, following a similar move by the United States earlier this week. “Direct flights to the UK from these destinations continue to operate to the UK subject to these new measures being in place. EgyptAir, Egypt’s flag carrier, is included in the US electronic ban decision, along with Royal Jordanian, Turkish airlines, Saudi Arabian Airlines, Emirates, Etihad Airways (Emirati airline), Royal Air Maroc, Kuwait Airways and Qatar Airways. Electronic devices larger than a cell phone will be checked with the baggage and none to be allowed on cabins. EgyptAir said in a statement on Tuesday that it would apply the ban on passengers travelling to the US starting Friday.

March 22, 2017 12:22 UTC

Egypt negotiates third tranche of World Bank loan

The government began intensive negotiations with the World Bank mission, which is currently in Cairo, on the third tranche of the loan approved for Egypt by the Bank, totaling US$12 billion to support the government's economic reform program. In a statement to Al-Masry Al-Youm, Merza Hasan, dean of the Board of Executive Directors of the World Bank, said Cairo would discuss the final details of the third tranche in the spring meetings with Bank officials, scheduled to be held in Washington near the end of April. Minister of Investment and International Cooperation Sahar Nasr held a meeting with the World Bank mission to negotiate the third tranche worth US$3 billion, she said in a statement on Wednesday. Egypt received the second tranche of US$1 billion, which indicates that the economy is moving steadily towards achieving comprehensive development, Nasr said. The World Bank funding comes as part of Egypt's portfolio of the World Bank, worth US$8 billion, of which US$6 billion is allocated for the government and US$2 billion for the private sector as part of Egypt's strategic partnership with the World Bank, covering the period from 2015 to 2019.

March 22, 2017 11:48 UTC

Egypt raises multiple-entry visa fee, single remains unchanged

He added that tourism sector workers hope to increase the volume of traffic to Egypt during the coming summer. The Foreign Ministry had decided to raise entry fees to Egypt in February starting March 1. Raising entry visa fees would decrease the inflow of tourists, said Bashar Abu Taleb, captain of the Red Sea tour guides. Egypt has been battling to recover its badly-affected tourism sector over the course of 2016, after years of political turmoil since the 25 January uprising. This was exacerbated by the downing of the Russian plane in October 2015, which killed all 224 passengers and crew on board, most of them Russian tourists.

March 22, 2017 11:37 UTC

Germany: Court backs deportation of German-born extremists

The two men, an Algerian and a Nigerian whose names were not released, were detained in February in Goettingen during an investigation of suspected attack plans. It said late Tuesday the men will be deported before Easter after the Federal Administrative Court threw out a case against the decision. "This is a clear signal to all fanatics that we won't leave them one centimeter for their inhuman plans," said state Interior Minister Boris Pistorius. Prosecutors concluded that the two had discussed an attack plan but had no concrete plans to carry one out. After the Christmas market attack, which was carried out by a rejected asylum-seeker, the government proposed further measures to toughen the rules on deporting such individuals and on monitoring extremists.

March 22, 2017 11:37 UTC

D-CAF returns for a sixth edition of art festivities - Daily News Egypt

After five successful seasons, the capital welcomed the country’s number one art festival last weekend. With that said, the sixth season seeks higher levels and new achievements. One of the core elements of D-CAF has always been the team’s focus on disability and their contentious support through art. “It is the oldest company in Switzerland, probably in Europe, engaging with disabilities,” said Ahmed El Attar, D-CAF’s artistic director and performing arts curator. El Attar added enthusiastically that bringing this particular act to Egypt has been one of D-CAF’s biggest targets since the very beginning.

March 22, 2017 11:03 UTC




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