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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        

Egypt News

Egypt PM: government mulls ways to repay Metro debts

Published 2017-03-23 12:31:43| Amwal Al Ghad English

Egyptian Prime Minister Sherif Ismail said the government is grappling with the financial woes of Cairo's vital metro underground as the facility suffers from massive debts of some 500 million Egyptian pounds ($27.7 million), state news agency MENA reported on Thursday. Ismail told reporters on Wednesday that the first of the Metro's three existing lines alone requires 350 million euros worth of maintenance and upgrades, excluding debts and the total cost to run. "It is very difficult that the situation is continuing this way," Ismail said. The prime minister said the government is currently looking at ways to fund the payment of outstanding debts. Last week, the Cairo Metro Company's spokesman told Ahram Online that the company is failing to cover maintenance, electricity and water expenses due to a lack of resources. Metro officials have repeatedly said the low ticket price, which has not been increased for over a decade, is one of the main reasons contributing to the service's losses. There have been repeated proposals to increase the ticket price in recent years, which officials say could double annual revenues, but the cabinet has yet to approve such a measure. The parliament was due to discuss the matter this week. Cairo’s underground train system, launched in 1987, is one of the oldest in the Middle East and Africa. Over 3.5 million of Greater Cairo's 21 million inhabitants rely on the subway for their daily travel, according to estimates by the country's national tunnels authority. Construction on the final phase of Cairo's third metro line is set to begin by June, according to Transportation Minister Hesham Arafat. A fourth line, financed through a loan from Japan, is planned and would begin operations in 2019/20.
International News
A British-born man who was once investigated for connections to violent extremism carried out the deadly attack outside Parliament in London on Wednesday, said Prime Minister Theresa May on Thursday. Addressing lawmakers in Parliament who only a day earlier had been under lockdown, May said on Thursday morning that the attacker was “a peripheral figure” who had been examined by MI5, Britain’s domestic counterintelligence agency, but who had not been “part of the current intelligence picture.” May said that officials were not ready to release the man’s name, but she added that “there was no prior evidence of his intent or of the plot” and that “our working assumption is that the attacker was inspired by Islamist ideology.” The authorities raided six properties across the country on Thursday, detaining eight people in London and in Birmingham, in central England, as they pressed ahead with a fast-moving investigation. The authorities emphasized that they believed the assailant had acted alone and that they did not expect any further attacks; May said that the nation’s threat level would remain “severe,” meaning that an attack was likely, and not raised to “critical,” signaling an imminent attack. “Yesterday, an act of terrorism tried to silence our democracy,” May said, adding: “We are not afraid and our resolve will never waver in the face of terrorism.” Among the victims of the attack — three dead and around 40 others wounded — were 12 Britons, at least four South Koreans, three French schoolchildren, two Romanians and one citizen each of China, Germany, Greece, Ireland and Italy. As Londoners returned to work Thursday morning and Parliament resumed normal business — it began with a debate on trade policy before Mrs. May spoke — police officers were pursuing leads in the case. The police also said that they had lowered the death toll in the attack on Wednesday to four from five, including the assailant, who drove his vehicle over pedestrians on Westminster Bridge and then fatally stabbed a police constable, Keith Palmer, 48, before being shot dead by the police. “We’re dealing with an enemy, a terrorist enemy, that is not making demands or taking people hostage, but simply wants to kill as many people as possible,” the British defense secretary, Michael Fallon, told the BBC. “This is a new element to international terrorism.” Fallon added that the police had “forestalled a large number of these attacks in recent years, over a dozen last year.” Questions about the assailant continued to swirl. The authorities have declined to identify him, reveal his nationality or say if he was part of a wider network. Rowley, the assistant commissioner, said that a large crime scene remained near Parliament and that the police would be sifting through CCTV footage as well as video evidence taken by witnesses. The investigation, he said, was focused on the assailant’s motive, on identifying his associates, and on the extent to which the attack was premeditated. Unsurprisingly for a multicultural city like London — where a moment of silence was held at 9:33 a.m. on Thursday, to be followed by a vigil in the evening — people from several nationalities were among the victims, Rowley said. He appealed for calm, saying, “We must not allow terrorists to sow discord and fear in our city.” In Parliament, the secretary of state for international trade, Liam Fox, began taking questions on trade issues by stating that it would be “not violence, hatred or division, but decency, goodness and tolerance that prevails in our country.” Speaking outside the chamber, Ed Miliband, a former leader of the Labour Party, said that the mood had been one of “shock and determination and also admiration for the job that the security people are doing.” The reaction, he added, showed that “humanity is stronger than the cowardice and depravity of the person who did this.”
U.S.-led coalition aircraft dropped fighters for the first time into an area near the Syrian city of Raqqa to retake territory from Islamic State in a mission that included Apache helicopters, U.S. Marine artillery and special operations troops, a U.S. official said on Wednesday. The air drop of Syrian Democratic Forces, a militia alliance including Arab and Kurdish fighters, took place near the town of Tabqa in northern Syria, spokesman Colonel Joseph Scrocca said in a Pentagon news conference. About 75 to 80 percent of the forces were members of the Syrian Arab Coalition in the alliance, and the rest were from Syrian Democratic Forces, some of whom were Kurdish fighters, he said.