EGX adds LE3.13B to market capitalization Wednesday

FILE- Employees in the EGX following performance of the trading sessionCAIRO - 20 February 2019: The Egyptian Exchange (EGX) ended Wednesday’s session on mixed performance, and market capitalization gained LE 3.13 billion, amid foreign selling.The benchmark EGX30 hiked 0.38 percent, or 57.7 points, to close at 15,213.54 points.Meanwhile, the equally weighted index EGX50 jumped 1.39 percent, or 34.09 points, to reach 2,479.34 points.On an opposite direction, the small and mid-cap index EGX70 decreased 0.31 percent, or 2.24 points, to 719.66 points, and the broader index EGX100 dropped 0.21 percent, or 3.78 points, to close at 1,818.59 points.Market capitalization gained LE 3.13 billion, recording LE 839.55 billion, compared to LE 836.42 billion in Tuesday’s session.The trading volume reached 399.08 million shares, traded through 34,840 transactions, with a turnover of LE 1.66 billion.Foreign investors were net sellers at LE 64.75 million, while Egyptian and Arab investors were net buyers at LE 51.7 million and LE 13.05 million, respectively.Arab individuals were net sellers at LE 7.78 million, while Egyptian and foreign individuals were net buyers at LE 60.37 million, and LE 1.01 million, respectively.Arab organizations bought at LE 20.84 million, while Egyptians and foreign organizations sold at LE 8.67 million, and LE 65.76 million, respectively.Ibnsina Pharma, Memphis Pharmaceuticals, and Assiut Islamic Trading were top gainers of the session by 14.61 percent, 8.17 percent and 6.86 percent, respectively.Meanwhile, International Co for Investment & Development, El Arabia Engineering Industries, and Alexandria New Medical Center were top losers of the session by 8.08 percent, 5.45 percent, and 4.45 percent, respectively.EGX ended Tuesday’s session on mixed performance, as EGX30dropped 0.47 percent, EGX50 declined 0.31 percent, while EGX70 rose 0.12 percent and EGX100 increased 0.05 percent.

Source:Egypt Today

February 20, 2019 13:41 UTC

U.S. Amb. expresses concern over growing Hezbollah role in Lebanon

Hariri met US Ambassador Elizabeth Richard in Beirut on Tuesday – (NNA)CAIRO – 20 February 2019: U.S. Ambassador to Beirut Elizabeth Richard expressed concerns on Tuesday over Hezbollah’s interference in the formation of the new cabinet.During a meeting with Lebanese Prime Minister Saad Hariri, Richard stressed that such growing role of the militant group cannot be deemed contribution to the stability of Lebanon.The ambassador further called upon the new government of Hariri to refrain from providing any support to Hezbollah from public resources.The Iran-backed Hezbollah, according to Richard, continues to violate Lebanon’s sovereignty and policy of non-involvement in regional conflicts by fighting, “at least in three countries”, in a clear reference to Syria, Iraq and Yemen, where Iran supports local armed groups, including the Iranian Militias in Iraq and Syria (IMIS).“I was also very frank with the prime minister about US concern over the growing role in the Cabinet of an organization that continues to maintain a militia that is not under the control of the government,” Richard told reporters after the meeting.She added that Hezbollah continues to make its own “national security decisions” that “endanger the rest of the country.”Last week, Iranian Foreign Minister Mohammad Javad Zarif met Hezbollah leader Hassan Nasrallah during an official visit to Lebanon.The meeting was held in the presence of Iranian Ambassador to Lebanon Mohammad-Jalal Firouznia and the delegation accompanying Zarif.Zarif’s visit took place to follow the recent formation of a new government in Lebanon after a nine-month deadlock that only deepened the country' economic woes.In October, American and western intelligence sources said Iran was supplying Hezbollah with GPS components to make previously unguided rockets into precision guided-missiles.

Source:Egypt Today

February 20, 2019 13:30 UTC

SDF to trapped IS jihadists: Surrender, or face death

Syria Democratic Forces (SDF) carry their weapons in a village on the outskirts of al-Shadadi town, Hasaka countryside, Syria – Reuters/Rodi SaidCAIRO – 20 February 2019: The U.S.-backed Syrian Democratic Forces (SDF) announced Wednesday that a convoy carrying evacuated civilians has left the last Islamic State (IS) pocket in eastern Syria’s embattled Baghouz.The SDF has said isolating the civilians in the enclave at Baghouz from the remaining extremists there is a crucial step toward the final capture of the area.Reporters near the front line saw the trucks leaving the enclave.The SDF warned the remaining IS fighters that they should surrender, or face death.The Kurdish-led forces were able to trap the jihadists in less than half a kilometer within Baghouz, while dozens of civilians and some fighters surrendered themselves.The SDF have slowed down their offensive as they seek to evacuate civilians before a final push to defeat IS, which seized swaths of Syria and Iraq in 2014 and declared a cross-border caliphate.SDF spokesperson Adnan Afrin has said in press remarks that foreigners were among those who left the pocket, but their nationalities “have not yet been determined” and it was not clear if these foreigners were civilians or fighters.The United Nations earlier expressed concern over “the situation of some 200 families, including many women and children, who are reportedly trapped” in the IS holdout.Earlier Tuesday, another SDF spokesman Mustefa Bali said his forces were preparing for a final push.“We are working on secluding and evacuating civilians and then we will attack. This could happen soon,” he said.IS fighters “have only two options, either they surrender or they will be killed in battle,” Bali said.IS territories ran out of supplies and prices soared as civilians consumed the last of food rations; hundreds of fighters and civilians were sent hundreds of miles to refugee camps or prisons.

Source:Egypt Today

February 20, 2019 13:07 UTC

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