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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        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        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        National Development Bank   6.72        Six of October Development & I   15.03        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        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        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        

News - MENA News

Amwal Al Ghad English - 2017-12-23 08:10:26
Leading Arab allies threatened with cuts in aid by Donald Trump said on Friday they had no choice but to defy the U.S. president over his recognition of Jerusalem as Israel’s capital, and did not believe he would follow through. More than 120 countries, including every Arab nation, voted at the U.N. General Assembly late on Thursday to urge the United States to withdraw its decision, announced earlier this month. Trump threatened to cut off financial aid to countries that voted in favor of the U.N. resolution, drafted by Egypt and supported by all members of the U.N. Security Council except Washington. He repeated his threat on Friday, writing on Twitter: “After having foolishly spent $7 trillion in the Middle East, it is time to start rebuilding our country!” In Egypt and Jordan, among the top recipients of U.S. aid but long the most heavily invested in the Israeli-Palestinian peace process, Trump’s threats were not taken seriously enough to backtrack on firm opposition to the U.S. move. “The Americans know more than any one else that a stable Jordan is crucial for U.S. interests in the region,” a government minister who asked not to be named said. More»
Amwal Al Ghad English - 2017-12-20 09:49:46
Saudi air defenses shot down a ballistic missile fired by Yemen’s Houthi group towards Riyadh on Tuesday, the Saudi-led coalition said, in an attack that could escalate a proxy war between the kingdom and Iran.There were no reports of casualties or damage. In contrast, a U.N. human rights spokesman said coalition air strikes had killed at least 136 non-combatants in war-torn Yemen since Dec. 6. The Iran-aligned Houthi movement said it had aimed the missile at the Saudi royal court at al-Yamama palace, where a meeting of Saudi leaders was under way. It described the attack as a new chapter in the conflict. More»
Amwal Al Ghad English - 2017-12-20 09:18:37
Saudi Arabia's 2018 budget may be its largest ever but the government must focus on the quality of spending, not just the quantity, experts said. The Kingdom is prepared to increase spending to record levels next year — 978 billion riyals ($261 billion) — as it looks to diversify its economy away from energy as part of Crown Prince Mohammed Bin Salman's bold reform agenda. This expansionary budget comes at a time of economic struggle — the country entered into recession this year, contracting 0.5 percent — but the government is optimistic, estimating growth to rebound to 2.7 percent in 2018. Redesigning the economy is a crucial component of Vision 2030, a wide-ranging plan to make Saudi Arabia less dependent on oil, reduce subsidies and increase employment. The jobless rate among Saudi citizens stands around 12.8 percent. According to analysts, a key feature of the budget was the explicit focus on structural reforms accompanying the increased spending. "The key is to look at what they're spending the money on and how effectively they spend it," Khatija Haque, head of Middle East and North Africa research at U.A.E-based bank Emirates NBD, told CNBC on Wednesday. The government intends to cut energy subsidies next year, with the move widely expected to free up funds for other parts of the economy such as infrastructure. "It's really now about the effectiveness of spending rather than just throwing money at the problem and having it disappear into private hands without actually delivering what was promised — that's a process that needs to change," Haque said. The introduction of a value added tax next year in addition to new excise taxes on tobacco and soft drinks, as well as recent levies on expatriates are widely expected to strengthen non-oil revenues next year. Riyadh forecasts non-oil income at 291 billion riyals in 2018, up from 256 billion riyals this year. In addition to the steps announced to enhance non-oil revenues, some analysts also noted the Kingdom's plans to lay out long-term targets. "One of the big changes in this budget was even planning for five years ... that's a plus," said Rachel Ziemba, adjunct senior fellow at the Center for a New American Security, referring to the government's decision to extend the budget deficit to 2023. "The real question in my mind is whether they are able to meet their aggressive build-out plans — the new cities they're building — and also to get the sort of valuations on the privatizations from the public offerings they're looking for," she continued. A cornerstone of the Kingdom's economic strategy is an initial public offering of national oil giant Aramco, whose estimated valuation stands around $1 trillion. The nation isn't solely focused on the economy; it's also undertaken significant social reforms such as allowing women to drive as well as starting a controversial anti-corruption probe. Riyadh "is trying to move very quickly to build jobs and address long standing issues" but progress may come a little more slowly than authorities hope, noted Ziemba. More»
Amwal Al Ghad English - 2017-12-19 09:36:23
Saudi Arabia’s 2018 budget, to be released on Tuesday, will focus on expansion, development and investment, but will not include new reforms or taxes, a senior Saudi finance ministry official said. “If there was to be a title for the 2018 budget, it would be the budget of expansion and development and investment,” Saad al-Shahrani, general director of the ministry’s macro-fiscal policy unit, said in an interview on Saudi-owned al-Arabiya TV. More»
Amwal Al Ghad English - 2017-12-19 09:24:35
Syrian President Bashar al Assad attacked France accusing it of supporting bloodshed in his country making it unfit to talk about a peace settlement.“France spearheaded support for terrorism and their hands are soaked in Syrian blood from the first days and we do not see they have changed their stance fundamentally,” Assad was quoted in state media as telling reporters after meeting a Russian delegation on Monday. More»
Amwal Al Ghad English - 2017-12-18 09:19:56
Palestinian billionaire Sabih al-Masri, who also holds Irish citizenship, was released Sunday from detention in Saudi Arabia after being caught up in the ongoing anti-corruption drive involving the arrest of more than 200 Saudis. After several days of questioning about his business dealings and partners in the kingdom, Masri (80) said after his release on Sunday that he had been treated with “respect” and would return to his permanent residence in Amman, the Jordanian capital, once he had concluded his meetings in Riyadh. It is understood Ireland’s Department of Foreign Affairs was not involved in the efforts to secure Masri’s release. No formal charges were levelled against Masri. It is not known if he has reached a monetary settlement with the Saudi authorities to secure his release. The son of late King Abdullah and former National Guard chief prince Miteb bin Abdullah was released after handing over $1 billion to the regime. Masri had been warned not to travel to Saudi Arabia following last month’s mass arrests of Saudi princes, ministers and businessmen in the most extensive purge in the kingdom’s history triggered by Crown Prince Mohamed bin Salman, the king’s favourite son, defence minister and economic czar. The Saudi attorney general has alleged $100 billion has been siphoned off in embezzlement or kick-backs in recent decades. Lebanese prime minister Saad Hariri was also caught up in the purge and questioned about his bankrupt construction firm before being compelled to resign his post and detained for two weeks. There had been international pressure on Riyadh to release Hariri who returned to Beirut and reversed his resignation. He has Saudi, Lebanese and French citizenship. A scion of a wealthy family from the northern West Bank city of Nablus, Masri, who also holds Saudi and Jordanian citizenship, he ‘accumulated much of his fortune in partnership with powerful Saudis while supplying food for troops based in the kingdom during the 1991 US-led military campaign to oust Iraq from Kuwait. Masri family A founder of the Palestine Securities Exchange, Masri was elected chairman of the Arab Bank, Jordan’s largest lender, in 2012 following the retirement of its founder, Abdel Hamid Shoman. The Masri family has major holdings in real estate, hotels and telecommunications companies established in the West Bank after the 1993 Oslo Accord ushered in a measure of Palestinian self-rule. Masri’s brief detention shocked Jordan where his investments loom large in the economy. Concern was expressed that the Saudi crown prince sought to exercise political leverage on vulnerable Jordan to follow his impulsive and risky lead in regional affairs. Prince Mohamed also wants the Jordanian monarch to agree to a Palestinian-Israeli peace deal put forward by the US although its leaked terms have been rejected by the Palestinians. There was controversy in Ireland after it emerged that members of the Masri family were granted Irish nationality in 1992 as part of the “passport for sale” scheme. Applications for Irish passports were made for al-Masri, his wife, Najwa, his daughter, Sireen and son, Khaled. The decision to grant the family passports was in exchange for a £1 million investment into the then taoiseach Albert Reynold’s family food company. When the deal emerged in 1994 Reynolds argued that the granting of nationality to major investors had been place since 1988 and that some 30 companies had benefitted from the programme. The “passport for sale” scheme was abolished in 1998. Under the scheme, applicants seeking naturalisation had to make an investment of £1 million per person in the State. The investment had to be for job creation or job maintenance. A substantial residence in Ireland also had to be purchased by the applicant. More»
Amwal Al Ghad English - 2017-12-18 09:11:34
Eastern Libyan military commander Khalifa Haftar, whose forces control parts of the country, said the U.N.-backed government was obsolete and he would listen to the will of the people, a firm hint he may run in elections expected next year.Haftar styles himself as a strongman capable of ending the chaos of armed factions that has gripped oil-producing Libya since the overthrow of Muammar Gaddafi in 2011. His comments, made at a military graduation ceremony, recall those of Egyptian General Abdel Fattah al-Sisi when he was testing the ground before becoming a presidential candidate. Sisi was eventually elected in 2014. More»
Amwal Al Ghad English - 2017-12-18 08:41:54
Turkey intends to open an embassy in East Jerusalem, President Tayyip Erdogan said days after leading calls at a summit of Muslim leaders for the world to recognize it as the capital of Palestine.It was not clear how he would carry out the move, as Israel controls all of Jerusalem and calls the city its indivisible capital. Palestinians want the capital of a future state they seek to be in East Jerusalem, which Israel took in a 1967 war and later annexed in a move not recognized internationally. More»
Amwal Al Ghad English - 2017-12-17 08:28:01
The United Nations Security Council is considering a draft resolution that would insist any decisions on the status of Jerusalem have no legal effect and must be rescinded after U.S. President Donald Trump recognized the city as Israel’s capital.The one-page Egyptian-drafted text, which was circulated to the 15-member council on Saturday and seen by Reuters, does not specifically mention the United States or Trump. Diplomats say it has broad support but will likely be vetoed by Washington. The council could vote early next week, diplomats said. A resolution needs nine votes in favor and no vetoes by the United States, France, Britain, Russia or China to pass. More»
Amwal Al Ghad English - 2017-12-17 08:16:43
The Yemeni army and allied fighters on Friday drove Houthi militants from a town that was one of the last positions they held in the country’s south, military sources and local officials said.The forces advanced into Bayhan, about 300 km (190 miles) southeast of the Houthi-held capital Sanaa, killing dozens of the militants in clashes, the sources said. More»