Orascom Development signs agreement with NIS to develop schools in O West

CEO of Orascom Development Egypt (ODE) Khaled Bichara - Photo via Bichara's official Facebook pageCAIRO – 4 June 2020: Orascom Development Egypt (ODE) announced Thursday signing its third School Development Agreement with Nermine Ismail School (NIS) to develop two K-12 international schools in O West.This agreement comes within the company’s land monetization strategy which secures a total of c. LE 535 million of cash inflows from these agreements to date.“Under the agreement, NIS will develop two new schools and “Advanced Education for the Establishment Management & Ownership of Educational Facilities” will take over the management and oversight of the schools, which are expected to open their doors by September 2022, a year before the delivery of the first real estate units in O West,” ODE clarified in a filing to the Egyptian Exchange (EGX).It stated that the educational zone transactions that we managed to successfully conclude in O West resulted in securing a total of c. LE 535 million of cash inflows to ODE. “The rapid execution of land monetization will help the Group to unlock its hidden land bank value to the market and will provide additional cash for speeding up the development of its destinations.”According to the filing, NIS was established in 1999. It owns and operates nine schools around Egypt offering multiple education tracks, including British, American, and French curriculums, and serves more than 9,000 students supported by more than 2,300 staff members.Orascom Development Egypt recorded a 41-percent- increase of its profits during 2019, hitting LE 705.19 million in 2019, compared to LE 500.19 million, including minority rights, in 2018.Orascom Development Egypt operates within the consumer services sector focusing on hotels, resorts and cruise lines with 52 subsidiaries operating across Northern Africa, Middle East and southern Europe.

Source:Egypt Today

June 04, 2020 09:56 UTC

Egypt to Hafter: Cairo will not allow any threat to its western borders

FILE - President Abdel Fattah El Sisi (R) and Libyan National Army commander Khalifa Haftar (L) hold a meeting in Cairo- press photoCAIRO - 4 May 2020: Libyan National Army (LNA) commander Field Marshal Khalifa Hifter demanded Egypt's international support to stop the Turkish intervention in Libya, Al-Arabiya TV reported anonymous sources.Haftar arrived in Cairo, Wednesday night, to meet a number of Egyptian high-rank officials and discuss the latest political updates in Libya.The Libyan commander informed Cairo of his rejection of any negotiations with his rival Fayez al-Sarraj, the head of the National Accord Government, before withdrawing the militias and Turkish soldiers from Libya, the sources said.The Libyan army commander renewed his request to lift the arms embargo on the Libyan army, informing Cairo that the Turkish army directly intervened in the Libyan battles.Egypt affirmed its rejections of foreign interference in Libya and the need to dismantle the militias and stop supplying them with weapons, the sources said, noting that Cairo confirmed that it would not allow any threat to its western borders.The announcement of Hafter’s short visit to Cairo comes following the Libyan National Army spokesperson Ahmed al- Mesmary statements on the arrival of a Turkish cargo ship at Misurata carrying military vehicles and weapons on Tuesday.On June 1, Mesmary announced the restoration of Alasabaa town, western Tripoli, from militias affiliated to the Government of National Accord (GNA) which had overtaken the town on May 21.Mesmary stated that the Libyan Armed Forces were able to take control of the town after a raid launched by the Air Force against militias on the Western Mountain.Furthermore, the LNA announced on May 31 killing three field commanders of the militias protecting the Government of National Accord (GNA) southern Tripoli in clashes.On May 29, Commander of LNA's Western District Mabrouk al-Ghazwi announced the death of 60 and the injury of 100 militants as they attempted to attack concentrations of the Libyan Armed Forces southern Tripoli.The commander stated that at least 1,500 Syrian mercenaries were involved in the attack, according to the confessions of a captive.

Source:Egypt Today

June 04, 2020 06:45 UTC

Egypt, German FMs talk Libyan turmoil, Palestinian cause, GERD file

FILE: Egypt's Foreign Minister Sameh ShoukryCAIRO - 4 May 2020: In a phone call conducted by German Minister of Foreign Affairs Heiko Maas, Egyptian Foreign Minister Sameh Shoukry discussed regional issues of Libya and the Palestinian cause, besides the file of the controversial Grand Ethiopian Renaissance Dam (GERD), said Egyptian Foreign Ministry Spokesperson Ahmed Hafez in a statement on Wednesday.“Shoukry and Maas discussed developments of the Palestinian cause, and efforts to revive the peace process in the framework of the two-state solution, while warning against the perils of undertaking unilateral steps that may undermine these efforts and further complicate the regional situation,” Hafez said.“The call also tackled the latest developments of the situation in Libya, whereby the two sides agreed on the importance of working towards implementing the conclusions of the Berlin Conference and supporting UN efforts aimed at reaching a comprehensive political settlement to the crisis, in order to restore security and stability and contribute to combating terrorist and extremist organizations in Libya,” he added.Concerning the GERD, Hafez said that Shoukry briefed his German counterpart on the latest developments pertaining to the Renaissance Dam file, including Egypt’s acceptance of resuming the negotiation track to reach an agreement among the three parties.Shoukry also stressed the need to reject any unilateral measures that could be taken by the Ethiopian side before reaching an agreement that achieves the interests of all parties. Ethiopia had announced previously that it would start filling the dam reservoir in July 2020, the matter Egypt and Sudan rejected as the filling process will negatively affect their Nile water shares.

Source:Egypt Today

June 04, 2020 06:11 UTC

Egypt records 1079 COVID-19 cases, 36 deaths

The new Coronavirus (COVID-19)- CC via Pixabay/FrankundFreiCAIRO – 3 June 2020: Egypt recorded 1079 new coronavirus, COVID-19 cases, Wednesday, raising the total number of confirmed cases since the outbreak in Egypt to 28615.Spokesman for the Health Ministry Khaled Megahed said in the daily briefing that 36 patients have died from the virus over the past 24 hours, raising the death toll to 1088.As many as 523 patients were discharged from isolation hospitals after receiving necessary medical care, taking the number of recovered cases to 7350 so far, the spokesman said.The number of coronavirus patients who had now been retested for the virus and received negative results has reached 8371, he added.Earlier, on Thursday the Egyptian government, chaired by Prime Minister Mustafa Madbouli, shortened the hours of the night-time curfew to start from 8:00 pm to 6:00 am for 15 days, in terms of the government’s new decision to cope with and mitigate the effects of the new coronavirus (COVID-19) pandemic.In a cabinet meeting attended by Minister of Health Hala Zayed and Minister of Higher Education Khaled Abdel Ghaffar, and other ministers, Madbouli announced that the new decision of the COVID-19 curfew will come into effect on Saturday.All restaurants, cafes, cafeterias, casinos, night clubs, bars, shopping centers (malls), entertainment avenues, and other local shops will remain closed, the decision added.

Source:Egypt Today

June 03, 2020 19:30 UTC

Egypt announces flat rates for hospitals' quarantine prices

Laboratory technicians get ready during a coronavirus analysis simulation at the Malbran institute in Buenos Aires, Argentina February 29, 2020. Picture taken February 29, 2020. REUTERS/Agustin MarcarianCAIRO – 3 June 2020: Relatively flat rates have been set for coronavirus patients after receiving a massive number of complaints about the high prices demanded by hospitals to accept patients.Head of the Minister of Health Office Mohamed Abdel Wahab sent Head of the Central Department for Free Therapy and Medical Licenses Nihal al-Shaer a letter regarding the prime minister’s instructions to regulate and control the prices of COVID-19 treatment in private hospitals.According to the details included in Abdel Wahab's letter, Minister of Health Hala Zayed agreed on following, “The cost of isolation in one of the hospital’s departments ranges from LE 1,500 to LE 3,000, the cost of isolation in intensive care, including a ventilator ranges from LE 7,500 to LE 10,000, and the cost of isolation inside intensive care without a ventilator ranges from LE 5,000 to LE 7,000.These prices include service, supplies, doctors, nursing, and accommodation in full, as well as all the needed medical procedures, according to the letter.On June 1, Egypt recorded 1,399 new coronavirus cases, upping the total number of confirmed cases since the outbreak in Egypt to 26,384.In a statement, spokesman for the Health Ministry Khaled Megahed said 46 patients died from the virus raising the death toll to 1,005. "As many as 410 patients were discharged from isolation hospitals after receiving necessary medical care, taking the total number of recoveries to 6,447 so far," the spokesman said.

Source:Egypt Today

June 03, 2020 14:48 UTC

3 exceptional flights to return stranded Egyptians in Beirut

Cairo International Airport - WikipediaCAIRO – 3 June 2020: Ministry of Civil Aviation operated three exceptional flights powered by Air Cairo Airline to Beirut to return stranded Egyptians there, since the suspension of flights to Egyptian airports in March 2020 due to COVID-19 pandemic.All flights are scheduled to return to Cairo International Airport, where quarantine doctors conduct coronavirus tests on all arriving passengers, before transporting them to isolation areas for 7 days if infection is proven.The ministry announced Tuesday that it will operate seven exceptional flights over three consecutive days to evacuate 1,400 Egyptian nationals from Beirut, and return them to the homeland.The Egyptian Embassy in Beirut opened the door for Egyptian nationals to submit requests to return back home.The Civil Aviation Authority announced the suspension of civil aviation traffic in Egypt, whether coming or leaving from Egyptian airports on March 19. The suspension decision excluded five cases, including air cargo flights, international ambulance trips, domestic flights inside the country and charter flights that return tourist groups after the end of their programs without bringing in new ones.The government also announced that there is joint cooperation between several ministries to return Egyptians trapped abroad due to the new coronavirus, as directed by President Abdel Fatah al-Sisi.

Source:Egypt Today

June 03, 2020 12:22 UTC

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