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Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        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        Universal For Paper and Packag   4.94        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        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        National Real Estate Bank for    11.84        Egyptian Chemical Industries (   7.26        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        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        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        


Investment - Tech news

Amwal Al Ghad English - 2018-04-02 10:26:58
Apple is about to release something that people have been clamoring for ever since the first wave of iPhone X leaks last year – a physical home button! What’s more, the new home button add-on will also have Touch ID, which is sure to appease those who dislike Apple’s face unlock tech.Measuring in at 29 mm × 30 mm × 3.9 mm (1.1 in × 1.18 in × 0.1 in), the home button add-on for the iPhone X is about the size of a 4th gen iPod Shuffle (remember those?). However, unlike the Shuffle, it’s not built from aluminum, but the glossy, white plastic that Apple uses in all its power cables and accessories. The only exception is the button itself, which is covered in glass. The iPhone X home button add-on plugs into the Lightning port of your iPhone X, but fret not, as it has a Lightning port of its own and a 3.5mm headphone jack to boot! More»
Amwal Al Ghad English - 2018-04-02 07:02:53
A number of Uber and Careem drivers described the new law regulating the work of the two companies in Egypt as unfair and as intended to restrict their services, not to legalize it. Drivers complained of having to put the company’s logo on their private cars, and the potential for fines of LE 5,000 for drivers in the case of driving without an operating card, describing the measure as arbitrary, especially considering that most of the drivers are government employees. Government employees are prohibited by law to be employed somewhere else. Government employees, many of whom seek to earn a living by working as drivers in the evening for Uber or Careem, will not be able to do it after the new law is issued, they added. Ashraf Ibrahim, an agent from one of the companies, explained that the new law ended the role of both companies’ agents including himself because it stated that the drivers should deal directly with the two companies, and not through agents. Ibrahim said that agents have been making an effort over the past three years to promote the two companies and have convinced a large number of drivers to work for them, which has contributed to raising the living standards of drivers as well as finding an alternative to traditional white taxis. Uber and Careem fares will rise because of the new law which imposed operating cards and additional taxes on the two companies. Citizens will pay for the increase, not the companies, Ibrahim pointed out. After the recent fuel price hikes, the Uber fare base rose from LE6 to LE7 and the price per kilometre rose to LE2 instead of LE1.85, Ibrahim said. He expected further hikes after the application of the new law, which will affect both passengers and drivers. Mahmoud Hegazy, a sales manager at a real estate company, said he had no other alternative but to work as a driver on his own car for one of the two companies to pay for the monthly installments of the car. Once he finishes his work at 4 pm, he opens the application to receive passenger requests, Hegazy said. Hegazy said the new law will make him reconsider working as a driver, especially that he will have to put the company’s logo on his private car. The conditions under which a driver may be arrested under the new law are harsh, Hegazy added. The same does not apply to white taxi drivers who often refuse to obey the law and take advantage of passengers, Hegazy mentioned. Kamal Shaheen, an accountant and an Uber driver, criticized the new law, saying that it is biased against Uber and Careem drivers and is in favor of white taxi drivers. Many Uber and Careem drivers have higher education certificates and some work in government agencies who are often just trying to improve their monthly income. They will refuse to put the companies’ logos on their private cars in accordance to the new law and thus will have to stop working for Uber and Careem. More»
Amwal Al Ghad English - 2018-03-31 07:45:44
The Egyptian House of Representatives has approved in principle a draft law regulating transportation services using information technology, in a way that will allow online taxi applications to operate legally across the country Hearing in the parliament committees were attended by representatives of Uber and Careem, as reported by Egypt Independent. A debate has emerged regarding the use of users’ private data, with companies expressing concerns regarding some articles of the law, and the State Council objected to some of the articles deemed a violation to citizens’ privacy. The Egyptian administrative court recently issued a ruling to suspend the operations of Uber and Careem. Services of the two ride-hailing firms had caused outrage among local taxi drivers, who complained that the drivers did not need to pay the big fees to operate transportation vehicles. The court has accepted a petition by a lawyer who demands the government to halt licensing Uber and Careem activities in the Arab world's most populous country, including their online applications. The Egyptian minister of investments and international cooperation Sahar Nasr previously stressed the government’s keenness to create a positive business environment, supported by legislative reforms that guarantees pumping new investments in the private sector, to create new job opportunities for the Egyptian youth. Nasr also noted that a draft law for private companies working in the transportation sector will soon provide a legislative frame for companies operating in the field such as Uber. Last September, the minister said that President Abdel Fattah El Sisi asked Uber officials to introduce public transportation soon in all governorates. The minister then indicated that Uber will soon launch its public bus services in Egypt. More»
Amwal Al Ghad English - 2018-03-28 12:02:44
Egypt-based Raya Holding Company for Technology and Telecommunication reported Wednesday a 12.6 percent decline in its profits, reaching 103.2 million Egyptian pounds ($5.8 million) during 2017. Earlier, profits increased to 118.10 million pounds during 2016. Revenues rose to 6.7 billion pounds last year from 5.6 billion pounds a year earlier. More»
Amwal Al Ghad English - 2018-03-28 08:38:51
SoftBank Group Corp’s  Vision Fund will invest in creating the world’s biggest solar power project in Saudi Arabia, it said on Tuesday, stepping up its involvement in the kingdom and expanding beyond technology. The project is expected to have the capacity to produce up to 200 gigawatts (GW) by 2030, SoftBank Chief Executive Masayoshi Son told reporters in New York. That would add to around 400 GW of globally installed solar power capacity and is comparable to the world’s total nuclear power capacity of around 390 GW as of the end of 2016. By investing in solar power, Saudi Arabia, the world’s biggest oil exporter, can reduce the amount of crude it currently uses to generate power and increase its overseas shipments. The move illustrates the commitment by the de facto Saudi ruler, Crown Prince Mohammed bin Sultan, to transform the country’s economic status quo. The final investment total for the 200 GW of generation, including the solar panels, battery storage and a manufacturing facility for panels in Saudi Arabia, will eventually total around $200 billion, Son said. The initial phase of the project, for 7.2 GW of solar capacity, will cost $5 billion, with $1 billion coming from SoftBank’s Vision Fund and the rest from project financing, he said. Saudi Arabia’s Vision 2030 reform plan, which aims to reduce the country’s economic dependence on oil, was a good match for the fund’s long-term vision for innovation, said Son. “These two visions have come together to create clean, sustainable, low-cost and productive renewable energy,” he said. “The Kingdom has great sunshine, great size of available land, and great engineers...” Despite being one of the world’s sunniest countries, Saudi Arabia generates most of its electricity from oil-fired power plants. Saudi’s entire installed power capacity is currently around 60 GW. Adding 200 GW would create enormous excess capacity that could be exported to neighbors or used by industry, although the kingdom will still require other forms of power generation for night-time back-up. Industry estimates say around 300,000 to 800,000 barrels per day of crude oil are burnt for Saudi power generation.Exporting that oil could increase Saudi’s annual oil revenues by between $7 billion and $20 billion, at the current price for benchmark Brent LCOc1 oil of almost $70 per barrel. POST-FOSSIL FUEL “Saudi Arabia is clearly preparing for a post-fossil fuel dependent economy in terms of domestic energy consumption, and this huge bet on renewables would free up a lot of domestic output of oil for exports, while probably saving domestic gas resources as well,” said Peter Kiernan, lead energy analyst at the Economist Intelligence Unit in Singapore. “Up until now, progress in building solar capacity in the kingdom has been very slow, but this deal might give it the kick start it needs. But 200 GW by 2030 though, that’s another question,” Kiernan said. Last May, Softbank said it raised over $93 billion for the Vision Fund, the world’s largest private equity fund with backers including Saudi Arabia’s sovereign wealth fund, Apple Inc  and Foxconn, formally known as Hon Hai Precision Industry The Vision Fund has funneled $27.5 billion into 20 tech firms as of the end of December, transforming SoftBank from a Japanese telecoms upstart into one of the world’s biggest technology investors. The Saudi investment is Softbank’s second major global solar project. More»
Amwal Al Ghad English - 2018-03-27 10:02:15
Xiaomi Corp. unveiled its latest top-tier smartphone to bring the fight to Apple and Samsung, as the Chinese startup readies a highly anticipated initial public offering. Co-founder Lei Jun showed off the MIX 2S, which starts at 3,299 yuan ($527). The phone -- on paper -- sports many of the bells and whistles familiar to power users but is about half the iPhone X’s price tag. It’s got a six-inch bezel-less screen, ceramic body, Qualcomm’s latest processor and dual cameras. It’s Xiaomi’s third full-screen phone: a feature now embraced by the biggest vendors from Apple Inc. to Samsung Electronics Co. The MIX 2S could spearhead Xiaomi’s increasingly aggressive expansion into overseas markets, particularly the developed countries in which it still lacks presence. The company that once led the Chinese market has taken back domestic share from local brands such as Huawei, Oppo and Vivo since last year, but all are looking abroad as China’s smartphone market begins to shrink. More»
Amwal Al Ghad English - 2018-03-27 09:47:27
Ride-hailing firms Uber and Careem plan to submit a detailed memo to the Egyptian the House of Representatives as an objection to the articles of a draft law regulating transport services through ride-hailing apps. Both companies offensively denied storing users’ data in favour of the Egyptian government, as the Apps’ operations are done from abroad. Both firms affirm their acceptance to any fees imposed by Egypt in accordance with the governing rules, top officials at both firms told the newspaper. The ride-hailing companies will consider tax and insurance on the cars and their owners based on working hours, officials added. The two rivals are protesting to add taxis to their organisation, they said, pointing out that they will reduce the quality of the service. Uber and Careem are proposing the possibility of launching a special app for the white taxi to be managed by a private company. Both firms are seeking to take these steps before the Egyptian law takes effect and suspends their operations in the Arab world's most populous country. It is worth note that Egypt's administrative court issued last week a ruling to suspend operations of Uber and Careem in the North African nation. More»
Amwal Al Ghad English - 2018-03-22 08:28:52
Facebook Inc Chief Executive Mark Zuckerberg apologized on Wednesday for mistakes his company made in how it handled data belonging to 50 million of its users and promised tougher steps to restrict developers’ access to such information.The world’s largest social media network is facing growing government scrutiny in Europe and the United States about a whistleblower’s allegations that London-based political consultancy Cambridge Analytica improperly accessed user information to build profiles on American voters that were later used to help elect U.S. President Donald Trump in 2016. “This was a major breach of trust. I’m really sorry this happened. We have a basic responsibility to protect people’s data,” Zuckerberg said in an interview with CNN, breaking a public silence since the scandal erupted at the weekend. Zuckerberg said in a post on Facebook the company "made mistakes, there's more to do, and we need to step up and do it." He said the social network planned to conduct an investigation of thousands of apps that have used Facebook’s platform, restrict developer access to data, and give members a tool that lets them to disable access to their Facebook data more easily. More»
Amwal Al Ghad English - 2018-03-22 07:48:09
Egypt's administrative court on Tuesday issued an order banning taxi-hailing services Uber and Careem from operating in the country. The case against the two companies was filed in February 2017 by a group of traditional taxi drivers, who accused the services of violating the traffic law by using privately-owned vehicles for commercial purposes. The case was filed against the two operators as well as the government. Judicial sources had told Ahram Online on Tuesday that the court decision would immediately go into effect and that companies must cease their services pending a final ruling; however, other sources have disputed this. The verdict can still be appealed before Egypt's Higher Administrative Court. Abdellatif Waked, Uber Egypt’s general manager, said in comments emailed to Ahram Online on Tuesday that the San Francisco-based company intends to appeal the court decision. “We respect the rulings of the Egyptian judiciary, and cannot comment in detail on ongoing legal proceedings. However, we will appeal this decision, and continue to be available in Egypt," he said. "It is important to clarify that today’s verdict does not mean suspending the operations of Uber in Egypt," Waked added. Hours earlier, the Dubai-based Careem said in a brief statement on Facebook that it has not officially been notified about the ban, and that its operations in the country are continuing as normal. Khaled El-Gamal, a lawyer representing the taxi drivers, said on Wednesday that the government may take around a month to put the court decision into effect. "The court must issue an official document on the ruling, signed by judges, to be presented to the government, to move accordingly to suspend the companies' operation and ban their apps, which might take around four weeks," he said. The ride-hailing smartphone applications had sparked several protests from cab drivers in Cairo over their use of private vehicles to transport commuters, which they say violates traffic regulations. Taxi drivers have been angered because they are losing clients to both services, as many people are opting to use the two apps to commute in the capital and other cities. Uber, first launched in San Francisco seven years ago, began operating in Egypt in November 2014. The service is now operating in more than 80 countries. Its rival Careem operates across13 countries and more than 90 cities in the Middle East and Asia. It also launched in Egypt in 2014. Uber Egypt's General Manager Waked said on Tuesday that his company has provided "more than 150,000 economic opportunities in Egypt in 2017 alone," and has over the past two years been working with the Egyptian government to set up a "ridesharing framework." "We will do all we can to ensure millions of Egyptians can continue to enjoy the benefits of on-demand transportation," he said. Last year, Egypt's cabinet approved a transportation bill allowing and regulating the operations of the two ride-hailing companies. The law has been passed on to Egypt's State Council for a final legal review. In October, Uber announced it would make investments of $20 million over the next five years on its support centre in Cairo. The company has said that Egypt is one of the company's fastest-growing markets. Uber had 2 million users and employed 60,000 drivers in 2016, the company's Middle East and Africa chief Pierre-Dimitri Gore-Coty told Reuters in October. More»
Amwal Al Ghad English - 2018-03-21 08:01:00
Egypt's administrative court banned on Tuesday taxi-hailing services Uber and Careem from operating in the country. The case against the two companies was filed in February 2017 by a group of traditional taxi drivers, who accused the services of violating the traffic law by using privately-owned vehicles for commercial purposes. The case was filed against the two operators as well as the government. Judicial sources said Tuesday's court decision should immediately go into effect and that companies must cease their services pending a final ruling. The verdict can still be appealed before Egypt's Higher Administrative Court. Abdellatif Waked, Uber Egypt’s general manager, said in comments emailed to Ahram Online that the San Francisco-based company intends to appeal the court decision. “We respect the rulings of the Egyptian judiciary, and cannot comment in detail on ongoing legal proceedings. However, we will appeal this decision, and continue to be available in Egypt," he said. "It is important to clarify that today’s verdict does not mean suspending the operations of Uber in Egypt," Waked added. Hours earlier, the Dubai-based Careem said in a brief statement on Facebook that it has not officially been notified about the ban, and that its operations in the country are continuing as normal. The ride-hailing smartphone applications had sparked several protests from cab drivers in the capital Cairo over their use of private vehicles to transport commuters, which they say violates traffic regulations. Taxi drivers have been angered because they are losing clients to both services, as many people are opting to use the two apps to commute in the capital and other cities. Uber, first launched in San Francisco seven years ago, began operating in Egypt in November 2014. The service is now operating in more than 80 countries. Its rival Careem operates across13 countries and more than 90cities in the Middle East and Asia. It also launched in Egypt in 2014. Uber Egypt's General Manager Waked said on Tuesday that his company has provided "more than 150,000 economic opportunities in Egypt in 2017 alone," and has over the past two years been working with the Egyptian government to set up a "ridesharing framework." "We will do all we can to ensure millions of Egyptians can continue to enjoy the benefits of on-demand transportation," he said. Late last year, Egypt's cabinet approved a transportation bill allowing and regulating the operations of the two ride-hailing companies. The law has been passed on to Egypt's State Council for a final legal review. Last October, Uber announced it would make investments of $20 million over the next five years on its support centre in Cairo. The company has said that Egypt is one of the company's fastest-growing markets. Uber had 2 million users and employed 60,000 drivers in 2016, the company's Middle East and Africa chief Pierre-Dimitri Gore-Coty told Reuters in October. More»