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Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Pioneers Holding   2.84        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        Northern Upper Egypt Developme   4.93        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        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        Gharbia Islamic Housing Develo   8.41        General Company For Land Recla   16.6        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

Islamic Development Bank unit, Egypt to sign export boost plan next Sept


Published 2017-06-28 14:38:47| Hisham Ibrahim & Sanaa Allam

Egyptian Minister of Trade Tarek Qabil will sign an action plan next September with the International Islamic Trade Finance Corporation (ITFC), part of the Saudi Arabia-based lender Islamic Development Bank, aiming to boost Egyptian exports. A delegation from the Saudi Arabian ITFC is planning to visit Cairo at the end of next month to agree on the three-year action plan with the New Egyptian Export Development Authority with the participation of all parties concerned with exportation in Egypt, Minister Qabil said. During the visit, the ITFC and government authority will agree on the action plan to enhance Arab-African business relations, create new partnerships, and utilise business capacities in Africa, said Sherine Al-Shorbagi, CEO of the New Egyptian Export Development Authority.The Egyptian authority had recently held several meetings in Saudi Arabia with representatives of Islamic Development Bank, the Islamic Corporation for the Development of the Private Sector, the Islamic Corporation for the Insurance of Investment, and Export Credit (ICIEC) and ITFC, Al-Shorbagi added.
Tech news
U.S. President Donald Trump has chosen his latest victim in a Twitter tirade — Amazon, apparently, this was not a new target for Trump either. Trump tweeted Wednesday morning that Amazon wasn't "paying internet taxes (which they should)." The president also references The Washington Post, which is owned by Amazon's CEO, Jeff Bezos, in his tweet. On Tuesday, the publication put out a story saying a fake issue of Time magazine with Trump on the cover was hanging in some of the president's golf clubs. "[T]he cover on display at Trump's clubs, observed recently by a reporter visiting one of the properties, contains several small but telling mistakes," the Post wrote. A spokeswoman for Time later confirmed with the Post that the cover wasn't real. Aside from attacking the Washington-based publication directly, Trump harshly criticized Amazon during his campaign, saying the e-commerce giant operated a monopoly with an unfair tax shelter that's somehow propped up by Bezos' ownership of the Post. During one campaign rally in February 2016, Trump told the crowd: "If I become president, oh [does Amazon] have problems. They're going to have such problems." He added that Bezos only bought the Post to have "political influence." Trump is now calling out Amazon for avoiding so-called internet taxes, what was once a much larger and controversial issue for the e-retailer. A representative from Amazon did not immediately respond to a request for comment. However, as pressure built in individual state houses, Congress and courts to allow states to require retailers to collect the tax on out-of-state sales and pass it on to state governments, Amazon has accelerated changes in its tax policy. Starting April 1 this year, Amazon began collecting sales tax nationwide, calming much of the prior controversy. So it remains unclear what Trump was referencing when he accused Amazon on Wednesday morning of not paying "internet taxes." In general, online retailers fall under two different tax systems today — retailers located out of state pay no sales tax, while those with some type of link to the state must pay it. Amazon having distribution centers in certain states, but not others, had put the company in a tricky spot. "This is a personal thing. ... He's going after Jeff," Gene Munster, co-founder and managing partner of Loup Ventures, told CNBC's "Squawk on the Street." "It's all about personal vendetta against The Washington Post." But Munster added that Amazon shouldn't be impacted by this in the slightest way. "Bezos is just going to double down ... [he] doesn't have anything to worry about." Everyone knew the increase in sales taxes was coming, for example, so this shouldn't impact unit growth for Amazon at all, Munster said. Meanwhile, Bezos hasn't been shy about his anti-Trump views either. At one point during the election, Bezos tweeted that he'd save a seat for Trump on his Blue Origin spacecraft, with the hashtag "sendDonaldtospace." At another time, he called out Trump's attempts to intimidate the press. Just last week, Bezos, among other tech CEOs, attended a meeting with the president in the White House, where executives discussed key issues impacting Silicon Valley, like tax reform. Amazon shares inched down less than 1 percent after Trump's tweet Wednesday morning.
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.