Minya Archbishopric calls for reopening church allegedly closed upon extremists’ will
The Archbishopric of Egypt’s upper governorate of Minya released a statement on Sunday calling on the government to reopen the closed Coptic Church in ‘Kedwan’ village in Minya. The statement made it clear Copts in Minya are angry that the authorities closed the church for nearly a month period, after extremists in the village expressed refusal to the presence of a church. The church was previously closed by security authorities in 2012, due to the same displays of disapproval by extremists. He asserted that the relations between the Copts and the Muslims in ‘Kedwan’ village are good, however the government is closing the church in fear the extremists might riot. Copts at the ‘Kedwan’ village are asking for their right,” he added.
Source:Egypt Independent
August 13, 2017 12:11 UTC
Egypt punishes train-disaster ‘selfie medics’
Egypt’s health ministry has punished six medics who took selfies in front of a deadly train wreck by transferring them to a remote part of the country, it said SaturdayTwo trains collided Friday near the Mediterranean city of Alexandria, killing 41 people in one of the deadliest such accidents in the North African country. Pictures of an ambulance crew taking selfie pictures in front the wreckage sparked anger on social media, with one Twitter user posting a photograph with a hashtag reading: “conscience in a coma.”Dubbed the “Selfie Medics” by Twitter users, they faced calls for punishment on social media. The health ministry’s director of emergency services Ahmed al-Ansari told AFP six members of the ambulance crew have been transferred to the western Siwa oasis as punishment. It was “inappropriate conduct,” he said. Egypt’s ambulance services had been hailed in the country in the past for their often dangerous jobs tending to demonstrators during the Arab Spring protests of 2011 and their violent aftermath.
Source:Egypt Independent
August 13, 2017 12:00 UTC
Red Sea records lowest rates of shark attacks worldwide: Environment Ministry
Recent marine surveys from the Ministry of Environment revealed that the rates of shark attacks in the Red Sea, over the past twenty years, are the lowest in the world. Attacks occurred mainly due to food thrown to sharks by people out enjoying water sports, snorkeling or swimming. In addition, the survey warned beachgoers of swimming near fishing areas or throwing food when they are eating near or on the sea, these practices vibrate the water and attract the sharks to the area. The Environment Ministry’s research team decided to reopen the beach for a hotel in Marsa Ghalib on Tuesday, north of Marsa Alam, 48 hours after it was closed due to a shark attack of tourist Kerstin Schachinger Saturday. The 20-year-old tourist was flown back to Austria for further treatment.
Source:Egypt Independent
August 13, 2017 10:30 UTC
Deena Wagdy: a timeless declaration of strength adorned with pearls - Daily News Egypt
Deena Wagdy is a jewellery designer that leads a new generation of local artists. As elaborate and resistant as a phoenix, the local jewellery and fashion industry has risen back to glamour during the past five years. I love jewelry and I have always dreamed to become a jewelry designer at one point of my life. I was certified by the Design Studio and Alchimia Contemporary Jewelry Design School in Florence to professionally practice my passion. Ancient Egyptians valued personal jewelry, which included statement necklaces, cuff bracelets and amulets; all made from pure Gold and precious stones.
Source:Daily News Egypt
August 13, 2017 09:56 UTC
16,000 Spinning and Weaving workers threaten to escalate strike
Sixteen thousand workers of the Egyptian Spinning and Weaving Company in Gharbiya continued their strike and sit-in inside the company’s headquarters for the sixth day in a row, to protest against what they called the Cabinet and the business sector ministerial committee’s negligence to their demands. Over 6,000 workers of the Egyptian Spinning and Weaving Company in Mahalla began their own open-ended strike on Monday evening, demanding the 10 percent bonus promised to them by President Abdel Fattah al-Sisi and the parliament, as well as other delayed bonuses over the past months. The workers threatened to take their their sit-ins outside and said that thousands of their families would join them until their demands were met. The workers refused to end their strike though until their financial dues are accrued, causing total paralysis of the company with 10,000 additional workers joining the strike. The strike caused daily losses of over LE5 million.
Source:Egypt Independent
August 13, 2017 09:22 UTC
Kuwait says oil spill strikes its waters in Persian Gulf
Kuwait says an oil spill has struck its waters in the Persian Gulf. Kuwait’s state-run KUNA news agency reported late Saturday that emergency responders were working toward containing the spill near Kuwait’s southern Ras al-Zour. Authorities say that they don’t believe the spill came from any of Kuwait’s offshore oil fields. Instead, they say they suspect the oil came from a tanker in the Gulf. Tiny Kuwait, an OPEC member nation, has the world’s six-largest estimated oil reserves.
Source:Egypt Independent
August 13, 2017 08:26 UTC
Did CBE miscalculate including part of hot money within foreign exchange reserves? - Daily News Egypt
He added that banks cover their customers’ foreign exchange requests from the proceeds and then inject a percentage of their surplus in the interbank market if another bank needs foreign exchange. In case there is no demand for foreign exchange in all banks, as is currently the case in the market, the liquidity is sold to the CBE, which injects it into foreign exchange reserves. The question we are asking here is whether Egypt’s foreign exchange reserves stand up to all these debts. Therefore, the CBE did not make a mistake in including part of them in its foreign exchange reserves. Thus, the current average foreign exchange reserves cover about 7.2 months of commodity imports to Egypt—higher than the world average of about 3 months.
Source:Daily News Egypt
August 13, 2017 08:03 UTC
Market & company news investors should track in the past week - Daily News Egypt
Palm Hills’ Q2 profits jump 114%Palm Hills Development Company posted a 114% year-on-year hike in profits for Q2 2017, according to a bourse filing. Revenues increased 48% to EGP 1.6 billion in Q2 2017 from EGP 1.08 billion in Q2 2016. In H1 2017, profits grew to EGP 349.3 million from EGP 169.3 million in H1 2016. Heliopolis Housing sold housing units of EGP 113.7 million, EGP 6.7 million, and EGP 5.2 million in Masaken Sheraton, Heliopolis, and Obour City, respectively, the firm said. The cost of revenue reached EGP 334.6 million in Q2 2017 from EGP 289.6 million in Q2 2016.
Source:Daily News Egypt
August 13, 2017 07:07 UTC
3 dead, dozens injured, amid violent white nationalist rally
A car rammed into a crowd of protesters and a state police helicopter crashed into the woods Saturday as tension boiled over at a white supremacist rally. The violent day left three dead, dozens injured and this usually quiet college town a bloodied symbol of the nation’s roiling racial and political divisions. Field’s mother, Samantha Bloom, told The Associated Press on Saturday night that she knew her son was attending a rally in Virginia but didn’t know it was a white supremacist rally. “We anticipated this event being the largest white supremacist gathering in over a decade,” Segal said. “Today’s events in Virginia remind us that we must bring our country together by condemning violence, white supremacists and Nazi hate groups,” he wrote.
Source:Egypt Independent
August 13, 2017 06:22 UTC
Egypt shares record first weekly gain in a month amid heavy trade - Daily News Egypt
Egypt shares recorded their first weekly gain in a month last week, buoyed by foreign investors’ purchases in a heavy trade as earnings season goes in full swing. The market capital added EGP 3.4 billion, closing the week at EGP 715.16 billion, compared to EGP 711.70 billion. Meanwhile, the market’s turnover came in EGP 2.4 billion, while volumes stood at 1.11 billion shares. Foreign investors were inclined to buy with a net EGP 173.4 million, while Egyptian and Arab investors were net sellers at EGP 167.19 million and EGP 6.2 million, respectively. Commercial International Bank (CIB), the stock with the heaviest weight in the main index, rose by 0.69% to EGP 83.78.
Source:Daily News Egypt
August 13, 2017 06:00 UTC
Agony for Usain Bolt as he pulls up injured in track farewell
Usain Bolt’s farewell appearance at the world championships ended in painful and disastrous fashion as he pulled up injured on the final leg of the men’s 4x100m relay Saturday. Bolt took the baton for Jamaica in third place but within a few strides he had fallen to the ground, clutching his left leg, as host Britain secured a shock gold ahead of a United States team containing Justin Gatlin. Bolt falls to the track on the final leg of the sprint relay. The 30-year-old Bolt, beaten into third in the individual 100m behind Gatlin and his US team compatriot Christian Coleman, was comforted by teammates after getting to his feet, his face etched in pain. The capacity crowd in the London Stadium was still digesting the shock earlier defeat for home hero Mo Farah in the men’s 5,000m final, before the drama of Bolt’s last agonizing appearance.
Source:Egypt Independent
August 12, 2017 23:48 UTC
Suspect accused in Tanta, Alexandria bombings arrested - Daily News Egypt
A suspected militant involved in the bombings of the Tanta and Alexandria churches was arrested last week, local media reported. The reports added that police forces launched a security operation in desert areas in Qena, Sohag, and Assiut, and 32 suspects were arrested. One of them is the suspect who the investigations accused of helping the main militant responsible for the bombings. Copts in Egypt have recently been suffering from regular Islamic State (IS) attacks. Coptic citizens in North Sinai have suffered from kidnappings and killings by militants.
Source:Daily News Egypt
August 12, 2017 18:22 UTC
Militant arrested, more hideouts destroyed in North Sinai - Daily News Egypt
The suspect was arrested by members of the third army, who also destroyed eight hideouts and seven storage rooms allegedly used by the militants. The military insurgency in Sinai have erupted after the ouster of former Islamist President Mohamed Morsi in July 2013. The Egyptian military and police forces have been battling in North Sinai for nearly four years against militants calling themselves “Sinai Province”, who are affiliated to the so-called Islamic State. The attack was claimed by the militant group of Sinai Province. Sinai Province has declared responsibility in an online statement for the 7 July attack.
Source:Daily News Egypt
August 12, 2017 18:10 UTC
The deadliest 10 train incidents in Egypt in the last 2 decades - Daily News Egypt
Daily News Egypt records the deadliest 10 train incidents in a timeline. February 2002: At least 373 people were killed when fire swept through an overcrowded train near Al-Ayyat in Giza. December 1995: At least 75 passengers died in a collision between two trains near Badrasheen in Giza governorate. December 1993: 18 people were killed, 85 injured in a collision between a passenger train and a cargo train in Cairo. February 1992: 43 passengers died in a collision between two trains near Badrasheen in Giza governorate.
Source:Daily News Egypt
August 12, 2017 18:00 UTC
Youth aged 18-29 account for 48.5% of workforce: CAPMAS - Daily News Egypt
CAPMAS also noted that the unemployment rate among youth in the age group (18-29) is 26.7% (21.6% males and 38.8 % females). The percent of divorced males of the same age group is 23.2% of the total divorced males, compared to 43.6% for females of the total divorced females. The proportion of internet users among youth reached 61.9%, including 76.8% of them using social media platforms, such as Facebook and Twitter. Furthermore, the report said that 96.7% of youth in the age group (18-29 years) use mobile phones (97.6% males, 95.5% females). In addition, the number of youth centres across the country reached 4,072 with 12,225 playgrounds.
Source:Daily News Egypt
August 12, 2017 17:03 UTC