Daily News Egypt participates in "Buy Your Dream Car" initiative - Daily News Egypt

Therefore, the newspaper agreed with a number of car agents and dealers to offer discounts to consumers in March. A car distributor told Daily News Egypt that these price cuts are temporary, and the car agents will develop new pricing lists in the next month. Car sales declined to 198,300 in 2016 compared to 278,400 in 2015, a decrease of 28.8%. He added that the car sales are expected to decline by 25-30% by the end of this year. It means that they technically need to increase car prices by the same percentage, according to the cost.

March 21, 2017 07:30 UTC

Test drive of Chery Tiggo on Fayoum and Ismailia desert roads - Daily News Egypt

In response to an invitation by Ghabbour Auto, Daily News Egypt had a test drive of the car to closely get introduced to its performance and strength. In its outer design, Tiggo had the general attractive spirit that takes over most Chinese cars. The car is supplied with a multi-functional air-condition, medium-sized multifunction steering wheel, large gauges, and comfortable lighting for the eyes. On the roadThe Tiggo showed great efficiency on the road compared to other Chinese cars. Despite being a family car, the Tiggo actually fits Egyptian streets, regardless of the hustle times.

March 21, 2017 07:10 UTC

Hamas aims to improve international image with new program

The Islamic militant group Hamas has drafted a new political program it hopes will improve ties with neighboring Egypt and the West, and present a more moderate image that will help it get off Western terrorism lists. The document plays down ties to Hamas' parent movement, the regional Muslim Brotherhood, which is being targeted by Egypt's government as a terror organization. In Gaza, the base of Hamas' political power, strongman Yehiya Sinwar, a former long-term prisoner in Israel who is close to the Hamas military wing, was chosen for the top spot. A decade later, the group's then-spiritual leader, Ahmed Yassin, appeared to soften positions, raising the possibility of a Palestinian state in the 1967 lines. Hamas' ties with Egypt worsened significantly after elected Egyptian president from the Brotherhood, Mohammed Morsi, was ousted by the military in 2013.

March 21, 2017 06:22 UTC

OLX Egypt publishes first annual property report focusing on behaviour trends - Daily News Egypt

OLX Properties Egypt published the first annual property report focusing on user behaviour trends, setting the stage for 2017. The number of chat messages in the property section reached 713,144, with an average of 2,641 chat messages per day, the report highlighted. The report noted that these results can serve as a crucial guideline for experts in the property section, highlighting trends of potential investors and tenants. OLX’s report highlighted as well that each property for sale received on average five leads across all platforms. In addition, each property for rent received on average seven leads.

March 21, 2017 06:00 UTC

Dollar slips on doubts Fed will speed rate hikes, euro edges up

The euro gained 0.1 percent on the day to $1.0754, though it remained shy of last week's high of $1.0782. The Fed lifted interest rates last week and said that its future course of hikes would be "gradual". That pushed down U.S. Treasury yields, to the dollar's detriment. Mitsuo Imaizumi, Tokyo-based chief foreign-exchange strategist for Daiwa Securities, said the dollar felt pressure from lower US Treasury yields earlier in the session. Kansas City Fed President Esther George, Cleveland Fed President Loretta Mester and Boston Fed President Eric Rosengren will all speak later on Tuesday.

March 21, 2017 05:48 UTC



China, EU cut imports of Brazil meat amid scandal

As the scandal deepened, Brazil's Agriculture Minister Blairo Maggi said the government had suspended exports from 21 meat processing units. An all-out ban on Brazilian meat exports would be a "disaster," Maggi added. China, which accounted for nearly one-third of the Brazilian meatpacking industry's US$13.9 billion in exports last year, suspended imports of all meat products from Brazil as a precautionary measure. The European Union suspended imports from four Brazilian meat processing facilities, ABPA said, citing the nation's agriculture ministry. Chile is also temporarily banning imports of all Brazilian meat products, the agriculture ministry said on Monday.

March 20, 2017 23:48 UTC

Are you sure the diet you’re following is actually good for your health?

Carried out by Andrew Freeman, MD, director of cardiovascular prevention and wellness in the division of cardiology at National Jewish Health in Denver, the report examined several recent diet trends, as well as “hypes and controversies” surrounding nutrition. “There is a great amount of misinformation about nutrition fads, including antioxidant pills, juicing and gluten-free diets,” commented Freeman. Fruits and vegetables are the healthiest and most beneficial source of antioxidants to reduce heart disease risk, whereas there is no significant evidence that adding supplements into the diet benefits heart health. JuicingBe careful with this recent food trend. For those who don’t have any gluten sensitivities the many health benefit claims of a gluten-free diet are unsubstantiated.

March 20, 2017 22:30 UTC

Counting Americans: possibility of new Mideast box on census

If the government gives her the choice of checking a new "Middle East/North Africa" box on a census form, would she? The Census Bureau on February 28 for the first time recommended including the new category, which would mostly affect Muslims. The Census Bureau said that when it tested a new MENA category in 2015, people of Middle Eastern or North African descent tended to check off that box. The Arab American Institute estimates as many as 3.7 million people in the United States have Arab roots. The Census Bureau estimates there are 1.8 million Arab Americans in the US, according to data it has collected.

March 20, 2017 17:37 UTC

UN explores land route options to get aid to Syria’s Qamishli

Despite historic enmity, Syrian Kurdish groups have steered clear of confrontation with the Syrian government in the six-year-old civil war. Minutes of a meeting of UN aid agencies in Damascus on March 16, including representatives of WFP and the UN humanitarian agency UNHCR, suggested aid convoys could soon take advantage of the new land route. The UN has for months also been asking permission to truck aid into Qamishli from the Turkish border town of Nusaybin. Turkey to the north of Syria's Kurdish region is hostile to the YPG, the main Syrian Kurdish militia. The ministry's letter also said aid deliveries would have to be coordinated with the governor and relief sub-committee of Syria's Hasakeh governorate.

March 20, 2017 16:52 UTC

Egypt emerges as the world’s fastest growing mortgage market - Daily News Egypt

Driven by huge domestic demand, Egypt will be the standout market globally for mortgages in 2017, according to a March report by Euromonitor International. The research agency has identified the top three markets globally in 2017 by fastest growth in mortgaged households, with Egypt topping the list, followed by Algeria and Nigeria. According to Euromonitor, Africa and the Middle East are home finance hotspots, due to their large and growing populations seeking infrastructure and residential units to resolve urban housing shortages. Egypt is expected to see an annual expansion of 18.9% in mortgaged households in 2017 alone, with forecasts that just fewer than 300,000 households are expected to be owned through a mortgage this year. “Following the economic overhaul over the last few months, Egypt is seeing signs of a recovery and with that confidence in the market.

March 20, 2017 15:22 UTC

Wall Street lower as oil falls, investors assess G20 shift

US stocks were lower on Monday as investors assessed the G20's decision to drop a pledge to keep global trade 'free and open' and as oil prices fell. The S&P 500 has risen about 11 percent since early November. The S&P 500 was down 4.06 points, or 0.17 percent, at 2,374.19. US-listed shares of Deutsche Bank fell 2.8 percent to $18.50 after the German lender disclosed terms of its nearly $9 billion cash call. The S&P 500 index showed eight new 52-week highs and no new lows, while the Nasdaq recorded 32 new highs and 11 new lows.

March 20, 2017 15:11 UTC

CIB sells 74.7% of CI Capital's shares worth EGP 710m - Daily News Egypt

The Egyptian Exchange announced on Sunday the sale of 74.75% of CI Capital Holding’s shares, affiliated to the Commercial International Bank (CIB), at EGP 710.158m. The EGX announced that 17 businesspeople have purchased 65% of CI Capital, in addition to another share sold to a group of executive directors of CI Capital. Mahmoud Attallah, CEO of CI Capital Holding, said that the company will hold its general assembly on 9 April, where they will form a new board of directors of the company and announce the new expansion plan. He told Daily News Egypt that CI Capital prepares for new acquisitions and deals in the coming period, in the framework of the company’s local and regional expansions plan. Attallah revealed that CI Capital will offer its shares on the stock market within this year, as well as increase its capital to finance expansion plans and enter new markets.

March 20, 2017 14:37 UTC

Retired police officer and policeman accused of killing realtor - Daily News Egypt

The man who appeared in the video is a realtor from 6th of October City. Before being kidnapped, the man was sitting with a former police officer and a non-commissioned police officer in a café in the aforementioned city to finalise a drug deal. The man in the video was found dead in the city of El Qanater El Khayreya, Qalyubia, allegedly killed following a dispute that erupted between him and the policemen, who have been arrested. The dispute resulted in them killing him, Al-Ahram newspaper reported. “The reason behind the realtor’s death is the dispute between him and the two officers, while they were finalising a drug deal that consists of a container loaded with the drug Tramadol,” security sources told Al-Ahram newspaper on condition of anonymity.

March 20, 2017 14:37 UTC

Can Fakharany resort to international arbitration against Careem? - Daily News Egypt

Wael Fakharany, former managing director of Careem in Egypt, announced last week that he will resort to international arbitration to sue the Careem Company; however, it seems like this will not be easy if it is not explicitly stated in the contract that he has the right to resort to international arbitration. Will he resort to international arbitration? Two days ago, Fakharany expressed in a phone call with a private TV channel his intention to move to international arbitration. Fakharany said he would resort to international arbitration to get his rights. Careem had last week announced sacking Fakharany and appointing Ramy Kato as head of customer service and manager of operations.

March 20, 2017 14:37 UTC

Court to rule on El-Nadeem Centre’s closure in April - Daily News Egypt

Cairo’s Administrative Court at the State Council is expected on 19 April to issue a verdict regarding the closure of El-Nadeem Centre for the Rehabilitation of Victims of Violence, the centre reported. The issue has been ongoing since February 2016 as multiple attempts to close down the centre took place, often without prior warning. In February, the latest incident took place when the centre reported that police forces sealed the place with red wax and arrested the doorman of the building. El-Nadeem previously responded to the accusations, saying that the closure came rather due to their reports documenting torture. Regularly documenting torture cases—including those committed in detention facilities—the centre had continued to report on torture, extra-judicial killings, and forced disappearances.

March 20, 2017 14:26 UTC




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