GIT to establish car ceiling production line with EGP 3m investments - Daily News Egypt

General Techniques International (GIT) plans to launch a new production line to manufacture car ceilings with EGP 3m investments. Tarek Mansour, the chairperson of the company, said that the company is seeking to negotiate with one of the Egyptian banks to finance part of the expenses to establish the production line. Mansour explained that the company will send part of its ceiling production to the global Nissan for approval to enable GIT to begin continuously supplying ceilings to Nissan Motor Egypt. Mansour also explained that the company is negotiating with Volkswagen to export passenger car mats to it. The company possesses 100% of the market share of truck-mat manufacturing, 70% of passenger car carpets, and 60% of sunshades.

April 26, 2017 06:56 UTC

Turkey detains 800 people over suspected links to US-based cleric

Turkish authorities detained 800 people overnight suspected of links to US-based cleric Fethullah Gulen, security sources said on Wednesday, in one of the largest operations in months against the network which Turkey blames for a failed July coup. Detention orders had been issued for 1,000 people, of which 803 had been detained, the sources said, in operations carried out across all 81 of Turkey's provinces. The latest arrests come 10 days after a tightly contested referendum approved the expansion of President Tayyip Erdogan's powers, according to preliminary results. The referendum bitterly divided Turkey. Erdogan argues that strengthening the presidency will avert instability associated with coalition governments, at a time when Turkey also faces security threats from Islamist and Kurdish militants.

April 26, 2017 06:45 UTC

Pharmaceutical cooperation among Arab countries nowhere to be found: Hassouna - Daily News Egypt

Ahmed Rabie Hassouna, former chairperson of the Arab Pharmacists Union, said that there are about 350,000 pharmacists in the Arab countries, including about 220,000 in Egypt alone. But the pharmaceutical industry in the Arab countries is based on individual efforts. A strategy for the pharmaceutical industry in the Arab countries will deepen the industry, which would attract a large amount of capital, especially as there are more than 350 million people living in Arab countries. How do you see the integration of Arab countries in the pharmaceutical industry currently? The integration of pharmaceutical companies among Arab countries is almost nowhere to be found.

April 26, 2017 06:00 UTC

AXA launches “Auto GO” supplemental insurance policy for cars - Daily News Egypt

AXA Insurance Company launched a supplemental insurance policy for cars called “Auto GO”. Gilbert Chahine, deputy CEO of AXA Egypt, said that his company started selling the new supplemental insurance policy this week. AXA had previously offered supplemental insurance policies for transportation companies, but the new Auto GO policy is allocated for individuals. Chahine told Daily New Egypt that the new policy covers car crashes, rollovers, theft, robbery, burning, and explosion. AXA covers the repair value of cars at its maintenance centres, after it receives the centre’s approval within 24 hours from receiving the car.

April 26, 2017 01:41 UTC

German Cup: Hrgota the hero as Frankfurt beat Mönchengladbach to reach final - Daily News Egypt

Eintracht Frankfurt have booked their place in the final of the German Cup after a penalty shootout win over Borussia Mönchengladbach. Before the game, Frankfurt coach Niko Kovac spoke of the club having a chance to “write history” as it seeks its first major silverware since they last won the same competition in 1988. Frankfurt started the game at breakneck speed, with wave after wave of attack in the opening minutes pinning the home side back. Gladbach couldn’t live with the visitors’ direct approach, which saw the excellent Marco Fabian and Hrgota both going close inside the opening three minutes. The hosts failed to heed the warning and, after 15 minutes of being run ragged at the back, they conceded the opening goal.

April 25, 2017 21:56 UTC



Islamic State car bomb kills 4 tribesmen in Sinai

An Islamic State suicide bomber attacked a tribal checkpoint in the Sinai Peninsula on Tuesday, killing four members of a powerful local tribe and wounding others, Egyptian security officials said. Egyptian forces have been battling a growing insurgency in the northern Sinai for years, with local tribes mostly remaining on the sidelines. Civilians in northern Sinai have had to endure violence as well as prolonged military curfews and diminished services. Clashes erupted last week between the militants and local tribes after IS fighters shot at a truck smuggling cigarettes into an area where the extremists have banned tobacco. Earlier this month, militants kidnapped the head of another powerful tribe, el-Fawakhriya, and a prominent businessman from the tribe.

April 25, 2017 18:11 UTC

Nine employees of Telecom Egypt released following investigation - Daily News Egypt

Following a brief investigation, Azbakiya Prosecution released nine employees of Telecom Egypt after they had been arrested on charges of gathering illegally and participating in unlicensed protests. The workers were detained for a whole day in the police station until completion of the investigation. The nine citizens, along with others, staged a protest on Sunday in rejection of unfair salaries and late bonuses. Recently, workers in different companies throughout the country have protested, complaining about unfair salaries that are insufficient to cover their daily expenses. Prices of most products, including essential goods, increased in a very short period, which heavily impacted low-income citizens.

April 25, 2017 16:30 UTC

Third National Youth Conference kicks off, tackling country’s top issues - Daily News Egypt

President Abdel Fattah Al-Sisi inaugurated on Tuesday the Third National Youth Conference in the city of Ismailia, commemorating the Sinai Liberation Day. Representatives of the youth attended the conference and discussed several issues that the Egyptian society is dealing with. The conference started with documentary films historising nationalist incidents during the Suez War and the liberation of Sinai. The third National Youth Conference kicks off on Tuesday to tackle the country’s issues and commemorate the celebration of the liberation of Sinai. President Abdel Fattah Al-Sisi arrived in Ismailia to host the conference, which will take place in conjunction with the Sinai Liberation Day.

April 25, 2017 16:30 UTC

Britain refuses request for apology over 1917 Balfour promise: Palestinian leaders

Palestinian leaders said on Tuesday Britain had rejected their request for an apology for a 1917 declaration that helped pave the way to the state of Israel, and they would pursue international court action unless London backtracked. British Prime Minister Theresa May has invited Israeli counterpart Benjamin Netanyahu to attend events commemorating the Balfour Declaration in November. "The answer came in a written letter to the [Palestinian] Foreign Ministry that the apology is refused," Manuel Hassassian, the Palestinian ambassador to Britain, told Voice of Palestine Radio on Tuesday. A British Foreign Office spokesman confirmed that there would be no apology and described the Balfour Declaration as "an historic statement", but said Britain continued to work for an Israeli-Palestinian peace deal. Palestinians have long condemned the document as a promise by Britain to hand over land that it did not own.

April 25, 2017 16:18 UTC

Government agencies’ dues to EGPC amounted to EGP 121bn at end of past FY - Daily News Egypt

Parliamentary sources said that the dues owed by governmental agencies to the Egyptian General Petroleum Corporation (EGPC) amounted to EGP 121bn at the end of the past fiscal year (FY). The source said that the EGPC received subsidies for fuel worth EGP 51bn in the last FY. The sources told Daily News Egypt that the Ministry of Electricity’s dues are the highest, at almost EGP 51bn, followed by the Ministry of Finance with EGP 30bn. The EGPC submitted a complaint to the parliament on Monday, highlighting that EgyptAir’s dues amounted to EGP 5.371bn in the last FY, while the Egyptian National Railways’ arrears amounted to EGP 2bn. Domestic and foreign purchases bought for reselling in the same period amounted to EGP 132bn, including EGP 46bn of local purchases and EGP 86bn of foreign purchases.

April 25, 2017 16:07 UTC

Stability will be achieved when freedom and justice prosper: FDJ - Daily News Egypt

The Front to Defend Journalists (FDJ) condemned on Monday what it called “a crackdown on public freedom” under the war on terror, during a meeting in the Press Syndicate with families of imprisoned journalists, assuring that stability will be achieved if freedom and justice are prospering. FDJ member Khaled El-Balshy told Daily News Egypt that the health conditions of imprisoned journalists have been deteriorating. “The meeting was for our colleagues, where the families of imprisoned journalists called for the medical treatment and relocation of their relatives from Al-Aqrab prison,” he explained. The FDJ was founded in 2014, to advocate for journalists’ rights against imprisonment and dismissal from newspapers, as well as calling for press freedom. Zakareya further clarified that the council is interested in the issue of imprisoned journalists.

April 25, 2017 15:55 UTC

Five solar energy companies liquefy their business in Egypt - Daily News Egypt

Five solar energy companies decided to liquidate their businesses in Egypt after they withdrew from projects planned to be implemented with investments amounting to $400m. The companies took their decision on the basis of the Extraordinary General Assembly resolution of 2 February 2017, where El Serag 1, Bareq Capital, Gulf New Energy, Adenium Energy, and Smart Green Egypt were put to be liquefied. He said that companies would not invest in any renewable energy projects in Egypt, as they planned to increase their capital and expand the establishment of several stations, but all plans were halted, and the headquarters in Egypt were closed. The five companies were among the 23 companies that withdrew from the first phase of the feed-in tariff projects. Sources in Bareq Capital and Adenium Energy told Daily News Egypt in previous remarks that they withdrew in objection to the arbitration in Egypt and the shortage in hard currency.

April 25, 2017 15:55 UTC

New proposed law limits Al-Azhar Imam’s term - Daily News Egypt

A new proposed law for Al-Azhar is to be discussed Wednesday in the Egyptian parliament. It calls for separating non-religious faculties from Al-Azhar University to form a new non-religious university named Imam Mohammed Abdu University. He added that the legislation committee will review the proposed law and will make its decision. “The proposed law aims to destroy Al-Azhar and is against the will of all Egyptians and Azharites all over the world, and it must not be issued,” the spokesperson of Al-Azhar University, Ahmed Zarae, told Daily News Egypt. Grand Imam of Al-Azhar Sheikh Ahmed Al-Tayeb described the criticism as “an organised campaign by some media outlets against Al-Azhar.”

April 25, 2017 15:45 UTC

12 officials referred to trial for illegal seizure of Pyramid samples - Daily News Egypt

Twelve officials from the Ministry of Antiquities were referred Monday to a disciplinary trial for the illegal “seizure of samples from the Great Pyramid” among other alleged disciplinary violations during the period between July and November 2013, said an Administrative Control Authority (ACA) press statement. According to the statement, the accused parties allowed German tourists visiting the Great Pyramid in 2013 to seize samples of the walls and ceilings in the burial room of King Khufu, which resulted in noticeable scratches on the walls, deforming the ancient structure. The investigations also showed that the parties were guilty of illegally practising tour guidance and allowing tourists to take photographs, enter burial rooms, and seize antique samples. The ACA has launched several campaigns against corruption. Partners for Transparency (PFORT) reported earlier in 2017 that 67 corruption incidents in state institutions were documented in February, as well as 968 incidents of corruption in 2016.

April 25, 2017 15:45 UTC

SFD aims to inject EGP 500m into small projects by end of 2017 - Daily News Egypt

Mohamed told Daily News Egypt that the SFD began direct lending small enterprises in May 2016. Since May 2016, the SFD has injected EGP 2.25bn into small projects. Mohamed said that the fund established a direct loans department to grant clients with loans through 31 offices across the republic. He explained that procedures differ according to the loan value, where loans are categorised according to size: between EGP 10,000 and EGP 20,000; EGP 20,000 and EGP 50,000; EGP 50,000 and EGP 150,000; and EGP 150,000 and EGP 2m. He added that the fund is dealing now with six companies and aims to contract with more companies for funding worth EGP 40m.

April 25, 2017 15:45 UTC




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