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GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Egyptian for Tourism Resorts   0.69        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Heliopolis Housing   21.65        Raya Holding For Technology An   4.57        United Housing & Development   8.93        International Agricultural Pro   2.1        Gulf Canadian Real Estate Inve   18.08        Alexandria Pharmaceuticals   45.71        Arab Cotton Ginning   2.46        Egyptian Chemical Industries (   7.26        National Real Estate Bank for    11.84        Six of October Development & I   15.03        National Development Bank   6.72        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Credit Agricole Egypt   9.04        Palm Hills Development Company   1.61        Remco for Touristic Villages C   2.13        Commercial International Bank    29.87        El Ezz Porcelain (Gemma)   1.9        Egyptian Starch & Glucose   5.4        Arab Real Estate Investment (A   0.41        South Valley Cement   3.12        Citadel Capital - Common Share   2.5        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Sharkia National Food   3.78        Egyptian Transport (EGYTRANS)   7.85        El Kahera Housing   4.97        El Shams Housing & Urbanizatio   2.45        Egyptian Kuwaiti Holding   0.7        ARAB POLVARA SPINNING & WEAVIN   2.11        Cairo Poultry   8.32        Egyptian Financial & Industria   8        T M G Holding   4.03        Asek Company for Mining - Asco   10.66        Misr Hotels   27        Egyptian Electrical Cables   0.56        Medinet Nasr Housing   22.51        Mena Touristic & Real Estate I   1.21        ELSWEDY CABLES   18        Prime Holding   0.91        Al Arafa Investment And Consul   0.17        Alexandria Spinning & Weaving    0.74        General Company For Land Recla   16.6        Gharbia Islamic Housing Develo   8.41        Alexandria Cement   8.9        Arab Valves Company   0.94        Sidi Kerir Petrochemicals   12.4        TransOceans Tours   0.09        Egyptian for Developing Buildi   6.43        Egyptian Gulf Bank   1.24        Kafr El Zayat Pesticides   18.19        Faisal Islamic Bank of Egypt -   35.1        National company for maize pro   11.86        Delta Construction & Rebuildin   4.03        Zahraa Maadi Investment & Deve   48.25        Samad Misr -EGYFERT   3.52        Egypt for Poultry   1.41        Cairo Development and Investme   11.7        Cairo Pharmaceuticals   20.1        Maridive & oil services   0.9        Suez Canal Bank   3.75        Nile Pharmaceuticals   15.81        The Arab Dairy Products Co. AR   73.85        National Housing for Professio   14.39        El Ahli Investment and Develop   4.87        Egyptian Saudi Finance Bank   10.79        Ismailia National Food Industr   5.16        National Societe Generale Bank   25.52        Acrow Misr   19.16        Alexandria Mineral Oils Compan   63.63        Paper Middle East (Simo)   5.59        Egypt Aluminum   12.31        Giza General Contracting   13.12        Middle Egypt Flour Mills   5.82        Extracted Oils   0.6        Assiut Islamic Trading   4.56        Engineering Industries (ICON)   3.95        North Cairo Mills   15.3        Arab Pharmaceuticals   11.88        Grand Capital   5.38        El Ahram Co. For Printing And    10.68        Minapharm Pharmaceuticals   25.49        El Arabia Engineering Industri   13.52        El Nasr For Manufacturing Agri   9.71        Naeem portfolio and fund Manag   1.7        Faisal Islamic Bank of Egypt -   6.76        Natural Gas & Mining Project (   68.26        Housing & Development Bank   13.95        East Delta Flour Mills   31.5        Orascom Development Holding (A   3.22        Memphis Pharmaceuticals   11.12        Abou Kir Fertilizers   134.23        Delta Insurance   5        Cairo Investment & Real Estate   12.18        Cairo Oils & Soap   12.98        Egyptian Arabian (cmar) Securi   0.36        Egyptian Real Estate Group Bea   15.56        Alexandria Containers and good   85.51        Upper Egypt Flour Mills   45.78        Development & Engineering Cons   9.94        Sinai Cement   15.18        Medical Union Pharmaceuticals   28.01        Torah Cement   24.2        Alexandria New Medical Center   46.55        Export Development Bank of Egy   5.04        Egyptian Company for Mobile Se   92.02        Middle & West Delta Flour Mill   32.7        El Kahera El Watania Investmen   4.18        Mansourah Poultry   12.41        Delta Sugar   11.04        Misr Beni Suef Cement   41.21        Egyptian Satellites (NileSat)   6.14        Cairo Educational Services   17.75        Lecico Egypt   7.55        Sharm Dreams Co. for Tourism I   5.3        General Silos & Storage   10.77        Al Moasher for Programming and   0.66        UTOPIA   5.28        Arab Ceramics (Aracemco)   25.4        Barbary Investment Group ( BIG   0.98        

Industry & Trade

No privatization of railway system: Egypt's Transportation Minister

Published 2017-08-19 09:39:22| Amwal Al Ghad English

Egyptian Transportation Minister, Hesham Arafat, said Friday that the government has no plans to privatize the railway system, adding that the private sector will only participate in improving service, and developing the facilities of the Egyptian Railway Authority. In statements to Al-Masry Al-Youm, Arafat said he is currently preparing a bill to amend the Railway Law to aid in the overall reform process carried out by the government, in the 166-year-old facility. “The railway is a business, not just a service institution, so it is required to make profits and this will not be achieved with the current situation. The railway will be developed under President Abdel Fattah al-Sisi, who gave us all his support, and called for the acceleration of comprehensive developments, for the neglected sector, over the past four decades, both in the infrastructure sectors and electrification of signs or mobile units and maintenance for service,” Arafat added. The minister added that new engines will be delivered to Egypt by 2019, and that there is an urgent maintenance plan for engines currently in service in need of urgent spare parts. Arafat held a five-hour meeting on Thursday evening with some of the train conductors along with leaders of the Transportation Ministry and the General Union of Railways. During the meeting, the minister listened to proposals to regulate the safety and security of operation amid the difficult conditions in which drivers operate, in light of the aging engines, railway cars and signaling systems. Arafat pointed out that he ordered the formation of a technical committee to review the technical conditions of the automatic control systems of both the engines and lines, particularly the Beni Suef-Giza line. He added that all efforts should be made during the next period to provide good service for passengers, especially with coming of Eid al-Adha, and that all faculty of the facility will undergo development and training in the railway systems and the availability of spare parts urgently.
Tech news
Egypt’s information technology and communications industry exports rose to $1.78 billion at the end of financial year 2016/2017, said the country’s Communications Ministry body, ITIDA in a recent report. The rise was due to a 50 percent fall in the costs of offering IT services in Egypt following the country’s decision of liberalisation of the Egyptian pound exchange rates against foreign currencies in early November, ITIDA stated.
Internet News
While Egypt’s tourism industry faces troubled times, one lawmaker is thinking of innovative ways to bring in revenue to some of the country’s top destinations. Parliamentarian Mohamed al-Massoud announced July 26 that he had completed a monumental and wide-reaching study on the establishment of a free trade zone in Sharm el-Sheikh. The study, he said, was conducted in accordance with the new law on foreign and local investments, which was issued June 1. Massoud, a member of parliament's tourism committee, said he would submit his study to the government and Minister of Investment Sahar Nasr, who decides whether cities can become free trade zones. Sharm el-Sheikh is among the most beautiful tourist attractions in the world, located along the Red Sea, at the point where the Gulf of Suez meets the Gulf of Aqaba. It was ranked the fourth-most beautiful city in the world in 2005 by the BBC and further won the UNESCO Cities for Peace Prize for 2000-2001, along with four other cities. Massoud’s proposition to make the city a free trade zone sparked different reactions among Egyptians. Supporters believe that Sharm el-Sheikh has the potential to become a key global free trade zone. Opponents believe that other Egyptian cities along the Red Sea could be established as free trade zones, without interfering with Sharm el-Sheikh's tourist industry. Massoud told Al-Monitor that his choice of Sharm el-Sheikh was based on a scientific study that took into consideration its unique location, international airport, top-notch road network and potential to accommodate a port.