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GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        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        Canal Shipping Agencies   7.39        Egyptian for Tourism Resorts   0.69        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        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        Palm Hills Development Company   1.61        Credit Agricole Egypt   9.04        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        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        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        Al Arafa Investment And Consul   0.17        Prime Holding   0.91        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

Airbus Q1 profit falls on weak pricing, higher costs


Published 2017-04-27 12:40:39| Amwal Al Ghad English

Europe's Airbus reported on Thursday a steeper than expected 52 percent drop in first-quarter profit, weighed by weaker prices as it changes to new models and higher production costs, but reaffirmed targets for higher profits for the year. The world's second-largest planemaker after Boeing said adjusted operating profit fell to 240 million euros ($261.7 million), while revenues rose 7 percent to 12.988 billion euros. Analysts were on average expecting adjusted operating income of 344 million euros, down 31 percent, and 5.5 percent higher revenues of 12.857 billion, according to a Reuters poll. Airbus said it was still worried about problems with temperamental engines for its new A320neo passenger plane from Pratt & Whitney, and commercial exposure on the troubled A400M military aircraft program. It expects deliveries of the A320neo once again to fall predominantly in the latter part of the year, but has said it hopes to avoid the last-minute rush seen in December last year. The engine issues "need to be resolved," Airbus said in a statement. The Airbus planemaking business saw 31 percent lower profit despite a 13 percent rise in revenues. The Toulouse-based firm said this reflected a different mix of aircraft, with more of the new A350s delivered in the first quarter, "transition pricing" and higher production ramp-up costs. New aircraft tend to be sold at heavier discounts to spur further orders. The Airbus Helicopters unit slipped into loss as the world's largest commercial helicopter maker continues to suffer from the grounding of aircraft in UK and Norway, following a crash that killed North Sea oil workers. For 2017, Airbus expects to deliver over 720 aircraft and to report mid-single-digit percentage growth in operating income. Airbus' results came a day after Boeing reported a 19 percent rise in first-quarter profit, with its U.S rival also lifting its full-year forecast.
Tech news
Turkish authorities on Saturday blocked access to online encyclopedia Wikipedia, an internet monitoring group said, the latest in what government critics say is a crackdown on free speech on the internet. A block on all language editions of the Wikipedia website was detected at 8:00 a.m. (0500 GMT) on Saturday, monitoring group Turkey Blocks said on its website. "The loss of availability is consistent with internet filters used to censor content in the country," it said. When attempting to access the webpage using Turkish internet providers, users received a notice the site could not be reached and a connection timed out error. Monitoring groups have accused Turkey of blocking access to social media sites such as Twitter or Facebook, particularly in the aftermath of militant attacks. The government has in the past denied that it blocks the internet, blaming outages on spikes in usage after major events. But technical experts at watchdog groups say the blackouts on social media are intentional, aimed in part at stopping the spread of militant images and propaganda.
Internet News
A delegation of most effective Lebanese businessmen in Africa is set to visit Egypt by the end of May, Egyptian trade and Industry Minister Tarek Qabil stated Saturday. The visit will be on the sidelines of the Egyptian-Lebanese Cooperation Forum, in which the mission will explore Egyptian industry through visiting a number of industrial zones in Egypt. Qabil has discussed the set-to-be visit during his meeting with Speaker of the Parliament of Lebanon Nabih Berri in the attendance of Egyptian International Cooperation Minister Sahar Nasr. During the meeting, Qabil and Berri discussed means of economic cooperation with Egypt and Lebanon.