Gynecologist who called on men to give their kids DNA tests has detention renewed
CAIRO - 18 November 2024: A doctor who appeared in a viral Facebook live video calling on men to take DNA tests for themselves and their children had a "breakdown" after her detention was renewed for 15 days pending investigation. She claimed such pregnancies are a “phenomenon,” hence families should stop positive parenting, return to corporal punishment of girls, and men should take tests to make sure they are their fathers’ and their kids are biologically theirs. The syndicate received complaints that she violated patient privacy, refusing to aid a patient, and stirring public opinion for asking men to take DNA kids. In a later video, Shoaeb said that as long as she did not reveal the patients’ identities, she has not revealed medical secrets. She added that wage was only “raising awareness.”The prosecution did not, however, charge Shoaeb of the syndicate’s accusations.
Source:Egypt Today
November 18, 2024 08:40 UTC
IMC, Businessmen’s Association discuss Local Manufacturing Empowerment
The Industrial Modernization Center (IMC), represented by CEO Doaa Salima, has met with board members of the Egyptian Businessmen’s Association to explore the Local Manufacturing Empowerment Programme and review key outcomes achieved through promoting investment opportunities developed by the centre in recent months. During the meeting, Salima presented new technical services recently launched by the IMC, including global compliance certifications and competitiveness enhancement services. Salima underlined the importance of the “Proudly Made in Egypt” certification, a service aimed at boosting reliance on local Egyptian products, enhancing their competitiveness, and increasing Egyptian exports to global markets. Additionally, the discussion covered digital transformation initiatives, which have gained significant attention recently. The IMC collaborates with development partners, research institutions such as the Academy of Scientific Research, and universities to advance digital transformation efforts across multiple domains.
Source:Daily News Egypt
November 18, 2024 05:49 UTC
Al-Sisi heads to Brazil for G20 summit
Egypt’s President Abdel Fattah Al-Sisi travelled to Rio de Janeiro, Brazil, on Sunday to partake in the G20 summit, which will take place on 18–19 November. This marks Egypt’s fourth participation in G20 summits, reflecting the growing appreciation for Egypt’s international weight and its pivotal role at the regional level. The summit, under the motto “Building a just world and a sustainable planet,” will feature three sessions focusing on social inclusion, global governance reform, and sustainable development. The first session will address social inclusion and the fight against hunger and poverty, focusing on issues such as inequality, social and financial inclusion, international tax cooperation, and food security. The remaining sessions will cover the Brazilian presidency’s priorities of reforming global governance institutions and promoting sustainable development and energy transition.
Source:Daily News Egypt
November 17, 2024 18:27 UTC
Egypt launches locally manufactured Exeed car
Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, has witnessed the launch of the locally produced Exeed car at the Egyptian-German Automotive (EGA) factory in 6th of October City, West Cairo. The minister added that the factory produces 1,200 Mercedes cars and 3,000 Exeed cars annually, providing numerous job opportunities for young people. These figures are expected to increase next year by leveraging the National Strategy for Automotive Industry Development. Yasser Saleh, CEO of EGA, highlighted that the partnership with Exeed holds a promising future in the Egyptian market. Saleh stressed the company’s commitment to advancing this industry, increasing the local component, and establishing Egypt as a prominent hub for high-quality automotive manufacturing.
Source:Daily News Egypt
November 17, 2024 17:27 UTC
Contact Financial Holding Reports Robust 71% Profit Surge for Q3 2024, Financial Portfolio Reaches EGP 20.8 Billion
Contact Financial Holding, Egypt’s leading non-bank financial services provider, announced consolidated financial results for the third quarter of 2024, showing a substantial year-on-year profit increase of 71%. In Q3 2024, Contact’s consolidated operating income rose to EGP 692 million, representing a 36% year-on-year increase, while the total financing portfolio expanded to EGP 20.8 billion. “ContactNow” offers a comprehensive suite of financial services, including bill payments and installment plans, enhancing user engagement and fulfilling customer needs seamlessly. In the automotive market, Contact’s “http://contactcars.com/” platform reported an 80% increase in user traffic, reaching 1.3 million monthly users. The recent opening of our Dubai branch is a milestone in our regional expansion strategy, aimed at delivering convenient financial services to Egyptians residing in the UAE.
Source:Daily News Egypt
November 17, 2024 12:48 UTC
TMG reports record sales of $7.4bn in 9M 2024
Talaat Moustafa Group Holding (TMG) has achieved remarkable business results during the first nine months (9M) of 2024. Moreover, recurring income revenues, including hotels, recurring revenue and the service sector, have grown 2.4x to EGP 11.9bn in 9M 2024 from EGP 4.9bn in 9M 2023. The recurring revenue represented 43% of the total consolidated revenue in the period compared to 27% for the same period in 2023. Accordingly, the total sales soared to EGP 454bn in 9M 2024 compared to EGP 93.1bn booked in the same period of 2023 making year-over-year growth approximately 5 times. Moreover, the group booked some EGP 1.34bn of additional profits related to Legacy acquisition during 9M 2024.
Source:Daily News Egypt
November 17, 2024 12:33 UTC
What is the reason behind WE’s decision to cut off internet services for these specific customers within the next 12 days?
Egypt’s leading telecommunications company, WE, has announced that it will be cutting off home internet services for customers who fail to pay their landline bills within the next 12 days. The company has emphasized the importance of paying November’s landline bill to avoid internet disconnection or additional penalties. Reason for Internet disconnectionWE has clarified that customers who do not settle their November landline bills by the specified date will have their internet service suspended. Electronic payment services: Services like Fawry, Vodafone Cash, Sadad, and Masary, as well as ATMs of banks such as the National Bank of Egypt and CIB, can be used for payments. Post offices: Egyptian post offices also offer bill payment services.
Source:Egypt Independent
November 17, 2024 11:22 UTC
Egypt to launch 1st education center for children with special needs, disabilities
CAIRO - 16 November 2024: The first comprehensive educational center in Egypt dedicated to children with special educational needs and disabilities will be established soon. Egyptian Minister of Social Solidarity Dr. Maya Morsi received Saturday Eng. Khaled Mahmoud Abbas, Chairman and Managing Director of the Administrative Capital Company, at the Ministry’s headquarters in the New Administrative Capital, in the presence of Eng. Margaret Saroufim, Deputy Minister of Social Solidarity, Ayman Abdel Mawgoud, Assistant Minister of Social Solidarity for Civil Society Institutions Affairs, and in the presence of leaders of the Ministry of Social Solidarity. The meeting discussed ways of cooperation between the Ministry of Social Solidarity and the Administrative Capital Company, within the framework of the "Educational Life Path" initiative.
Source:Egypt Today
November 16, 2024 19:20 UTC
Annual urban inflation remains stable at 26.5% in October: CBE
Egypt’s annual urban headline inflation remained broadly stable for the third consecutive month at 26.5% in October 2024. The primary driver of headline inflation continued to be non-food inflation, which recorded 26.0% in October 2024 compared with 25.5% in September 2024. Meanwhile, annual food inflation has continued decelerating since 2023, reaching 27.3% in October 2024, the lowest in two years. Annual core inflation declined to 24.4% in October 2024 compared with 25.0% in September 2024, while monthly core inflation registered 1.3% in October 2024 compared with 1.8% in October 2023, and 1.0% in September 2024. Core food items contributed 0.80% to monthly core inflation, while retail items contributed 0.27% and services 0.23%.
Source:Daily News Egypt
November 16, 2024 18:40 UTC
Egypt’s PM Madbouly to open Cairo ICT 2024 Sunday
Egypt’s Prime Minister Mostafa Madbouly will open the Cairo ICT 2024 exhibition and conference on Sunday, 17 November, on behalf of President Abdel Fattah Al-Sisi. The event, running until 20 November at the Egypt International Exhibition Centre, is expected to attract over 100,000 visitors and more than 600 exhibitors. This 28th edition of Cairo ICT, themed “The Next Wave,” will highlight the latest technological advancements and future trends shaping industries, economies, and societies. Over four days, Cairo ICT 2024 will host workshops, panel discussions, and interactive sessions led by global technology experts. Organisers envision Cairo ICT 2024 as a key platform uniting technological innovation with Egypt’s broader digital transformation strategy.
Source:Daily News Egypt
November 16, 2024 18:24 UTC
El-Nasr manufactures its 1st electric bus with high local component percentage
CAIRO - 16 November 2024: The Nasr Automotive Company manufactured its first electric bus in cooperation with Yutong, a leading Chinese company in the manufacture of buses and vehicles. The new bus is manufactured with a high local component percentage. El-Nasr Company’s revival and return to the automotive industry was described by Prime Minister Madbouly as a day to be celebrated. El Nasr Automotive Manufacturing Company is one of the important castles of industry and business sector in Egypt, said Minister of the Public Business Sector Mohamed Shemi Saturday. El-Nasr will manufacture environmentally friendly cars for the Ministry of Transport to work in the new administrative capital and deepening local manufacturing in the automotive industry.
Source:Egypt Today
November 16, 2024 17:43 UTC
Common myths about privatization in Egypt
And above all, it pays the Ministry of Finance all the taxes that should be the primary source of government revenue, not private investment. Lastly, we need to address another myth promoted by those who advocate for privatization where management is transferred while ownership remains with the state. This notion has been the reason for the failure of many divestment projects and the expansion of private sector ownership for more than one reason. Perhaps the State Ownership Policy document could serve as a foundation for drawing clear lines between the activities in which the state should continue and those from which it should exit. He served as Deputy Minister of Supply and Internal Trade in Egypt and is currently the Chairman of Arab Alloys.
Source:Egypt Independent
November 16, 2024 15:17 UTC
Bad news mounts for Ukraine across the frontlines. But Russia is under pressure too
Russia is making gains at key spots along the frontlines of eastern and southeastern Ukraine, while unleashing wave after wave of aerial terror against Ukrainian cities. … You just get boxed into a corner and you have to choose from a buffet of bad options,” Barros added. Taking over Kupiansk would make it a lot easier for Russia to push further into the Kharkiv region. Ukraine has put up a fierce fight in the area in recent months, even though it has lost some ground. Pokrovsk has been a target of Russia for months as it seeks to capture eastern Ukraine.
Source:Egypt Independent
November 16, 2024 15:17 UTC
Return of Nasr Automotive Company is critical juncture for automotive industry: Min.
El Nasr Automotive Manufacturing Company is one of the important castles of industry and business sector in Egypt, he added. The Egyptian car market is preparing for the return of local production by El Nasr Automotive Company through the production of the first new bus with a high local component percentage. The minister said the step is deemed as a critical juncture in the automotive industry. It is worth noting that El Nasr Automotive Company was established in accordance with Presidential Decree No. El Nasr was founded in 1960 as the first automotive production firm in the Middle East.
Source:Egypt Today
November 16, 2024 11:08 UTC
Discussed: Egypt's law supports civil institutions with exemptions package
CAIRO - 16 November 2024: Egypt's Civil Work Regulation Law granted a set of advantages to civil associations and institutions. 2- Exemption from taxes and stamp duties currently imposed, and also those imposed in the future on all contracts, powers of attorney, documents, printed papers, records, etc., the burden of which falls on the association. 4- Donations made to associations shall be considered a tax on the donor's income not exceeding (10 percent) of his net income. It is prohibited to dispose of durable items, which are determined by a decision of the competent minister in agreement with the Minister of Finance, before five years have passed unless the taxes and customs duties due on them are paid. 6- Water, electricity and natural gas consumption shall be treated as household consumption, provided that a certificate is issued from the competent ministry stating that no commercial activity is being practiced.
Source:Egypt Today
November 16, 2024 09:30 UTC