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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 - 2017-11-23 12:37:46
Saudi Arabia has agreed to buy about $7 billion worth of precision guided munitions from U.S. defence contractors, sources familiar with the matter said, a deal that some lawmakers may object to over American weapons having contributed to civilian deaths in the Saudi campaign in Yemen.Raytheon Co. and Boeing Co. are the companies selected, the sources said, in a deal that was part of a $110 billion weapons agreement that coincided with President Donald Trump’s visit to Saudi Arabia in May. Both companies declined comment on the weapons sale. Arms sales to the kingdom and other Gulf Cooperation Council member states have become increasingly contentious in the U.S. Congress, which must approve such sales. The U.S. State Department has yet to formally notify Congress of the precision guided munitions deal. “We do not comment to confirm or deny sales until they are formally notified to Congress,” a State Department official said, adding the U.S. government will take into account factors “including regional balance and human rights as well as the impact on the U.S. defence industrial base.”The Yemen civil war pits Iran-allied Houthi rebels against the government backed by a Saudi-led Arab coalition. Nearly 4,800 civilians have been killed since March 2015, the United Nations said in March. Saudi Arabia has either denied attacks or cited the presence of fighters in the targeted areas and has said it has tried to reduce civilian casualties. Saudi Arabia’s Ambassador to Washington, Prince Khalid bin Salman declined to comment on the specific sale, but said in a statement his country will follow through on the agreements signed during Trump’s visit. He said that while the kingdom has always chosen the United States for weapons purchases, “... Saudi Arabia’s market selection remains a choice and is committed to defending its security.” Trump, a Republican who views weapons sales as a way to create jobs in the United States, has announced billions of dollars in arms sales since taking office in January. A U.S. government official who spoke on condition of anonymity said the agreement is designed to cover a 10-year period and it could be years before actual transfers of weapons take place. The agreement could be held up in Congress, where Bob Corker, the Republican chairman of the Senate Foreign Relations Committee, announced in June that he would block arms sales to Saudi Arabia, the United Arab Emirates and other members of the GCC, over a dispute with Qatar, another U.S. ally in the Gulf. In November 2016, the administration of President Barack Obama, a Democrat, halted the sale of $1.29 billion worth of precision guided weapons because of concerns about the extent of civilian casualties in Yemen. That sale process started in 2015 and included more than 8,000 Laser Guided Bombs for the Royal Saudi Air Force. The package also included more than 10,000 general purpose bombs, and more than 5,000 tail kits used to inexpensively convert “dumb” bombs into laser or GPS-guided weapons. U.S. lawmakers have grown increasingly critical of the Saudi-led campaign in Yemen. The coalition had briefly banned naval, air and land transportation to Yemen following a missile fired by the Houthis that was shot down over the Saudi capital Riyadh. The Senate in June voted 53 to 47 to narrowly defeat legislation that sought to block portions of the 2015 package. David Des Roches, a senior military fellow at the Near East South Asia Center for Security Studies in Washington was aware of the deal but said the Saudis “are one errant strike away from moving five or six senators over to the other side.” Denying Saudi Arabia precision guided munitions was unlikely to change their behavior, he said. “Saudi Arabia has shown they will fight in Yemen and they’re going to keep on fighting in Yemen regardless of what we think,” Des Roches said. More»
Amwal Al Ghad English - 2017-11-23 08:56:12
A three-way summit on Wednesday between the leaders of Russia, Iran and Turkey could produce decisive steps toward ending the bloodshed in Syria, Turkish President Tayyip Erdogan said at the start of their talks.The summit, hosted by Russian President Vladimir Putin, is a rare occasion bringing together the leaders of Russia and Iran -- who back Syria’s President Bashar al-Assad -- around a table with Erdogan, who has supported Assad’s opponents. In opening remarks at the summit in the southern Russian resort of Sochi, Putin, Erdogan and Iran’s President Hassan Rouhani spoke of an opening for peace in Syria now that Islamic State has been pushed out of its last major stronghold there. More»
Amwal Al Ghad English - 2017-11-23 08:33:41
Saudi authorities have arrested Mohammed Hussein Al-Amoudi a duel national with Saudi and Ethiopian citizen and is reportedly the second richest Saudi, after Prince Al-Waleed bin Talal. While bin Talal’s arrest has gained most media attention. Al-Amoudi’s arrest is especially important because it could potentially destabilize the economy of an entire country, according to Middle East Eye. Al-Amoudi, who is also known as “the Sheikh”, has invested in almost every sector of Ethiopia’s economy, including hotels, agriculture and astrology. According to a leaked diplomatic cable from 2008 “the Sheikh’s influence on the Ethiopian economy cannot be underestimated.” More»
Amwal Al Ghad English - 2017-11-23 07:57:12
The Saudi Arabia-led coalition fighting Houthi rebels in Yemen said Wednesday that it would reopen the country's main international airport and a vital Red Sea port to humanitarian traffic. The easing is supposed to begin Thursday. The airport in the capital of Sanaa will reopen to U.N. aircraft, and the seaport of Hodeida will be able to receive urgent humanitarian aid, the coalition statement said. The port of Salef is also expected to reopen, deputy U.N. spokesman Farhan Haq said in New York, citing information that U.N. humanitarian and political officials had received from their Saudi counterparts. More»
Amwal Al Ghad English - 2017-11-23 07:10:59
Lebanon’s Saad al-Hariri on Wednesday shelved his decision to resign as prime minister at the request of President Michel Aoun, easing a crisis that had deepened tensions in the Middle East.Hariri made his announcement after returning to Beirut for the first time since he quit abruptly on Nov. 4 in a broadcast from Saudi Arabia. Top Lebanese officials have said Riyadh forced him to quit and held him in the kingdom. Riyadh and Hariri deny this. At the presidential palace near Beirut, Hariri said he hoped his move would lead to “a responsible dialogue...that deals with divisive issues and their repercussions on Lebanon’s relations with Arab brothers.” Hariri said all Lebanese sides must commit to keeping the country out of regional conflicts, a reference to the Iran-backed Hezbollah political and military movement. Hezbollah’s regional military role has greatly alarmed Saudi Arabia, Hariri’s long-time ally. “I presented today my resignation to President Aoun and he urged me to wait before offering it and to hold onto it for more dialogue about its reasons and political background, and I showed responsiveness,” he said in a televised statement. More»
Amwal Al Ghad English - 2017-11-22 09:25:26
Rival Palestinian factions resumed reconciliation talks in Cairo on Tuesday as differences surfaced over the best way to implement their deal to end a decade-old rift that has hampered efforts toward statehood.The Palestinian Authority, led by President Mahmoud Abbas of Fatah, retook control of the Gaza Strip’s border crossings from the Islamist Hamas movement this month, a key step in the Egyptian-brokered reconciliation deal. Under the agreement, the consensus government is due to take full administrative control of Gaza by Dec. 1.But disputes emerged over how to proceed, with Hamas keen to push for an agreement on other thorny issues, including security and elections, and Fatah reluctant to move forward until the unity administration has assumed complete authority over the coastal enclave. More»
Amwal Al Ghad English - 2017-11-22 09:09:37
The U.S. will enact far-reaching sanctions on South Sudanese officials and rebel leaders if they undermine new talks seeking to end a four-year civil war, the top American diplomat in the country said. An arms embargo and economic and banking restrictions are all being considered after limited sanctions “definitely got the attention” of the warring sides, according to Michael Morrow, the U.S. Embassy’s charge d’affaires. The country hasn’t had a U.S. ambassador since July as a successor nominated by President Donald Trump’s awaits Senate approval. The U.S. has made it clear to participants in the negotiations that if “there are any spoilers of the process, if there is anyone who reneges on their commitment, they can expect to face harsh measures,” Morrow said Monday in an interview in the capital, Juba. More»
Amwal Al Ghad English - 2017-11-22 09:00:24
Yemen’s Shiite Houthi rebels said they will keep working to develop their ballistic missile technology to target Saudi Arabia after an attempted missile attack earlier this month on Riyadh’s airport. In a statement carried by Houthi-controlled Al Masirah television, rebel spokesman Mohammed Abdulsalam criticized an Arab League statement issued in Cairo that accused Iran of destabilizing the Middle East and condemned Lebanon’s Iranian-backed Hezbollah as a terrorist organization. More»
Amwal Al Ghad English - 2017-11-22 08:21:03
Saad al-Hariri attended independence day celebrations in Beirut on Wednesday after returning to Lebanon for the first time since resigning as prime minister in a broadcast from Saudi Arabia.Hariri, whose sudden resignation on Nov. 4 pitched Lebanon into crisis, flew into Beirut late on Tuesday. He stood alongside President Michel Aoun and Parliament Speaker Nabih Berri at a military parade in central Beirut. Lebanese state officials and senior politicians close to Hariri say Riyadh forced him to quit and held him in the kingdom, which Saudi Arabia and Hariri have denied. The resignation took even Hariri’s aides by surprise. A long-time Saudi ally, Hariri cited fear of assassination in his resignation speech, and attacked Iran and its powerful Lebanese Shi‘ite ally Hezbollah for sowing strife in the Arab world.The resignation thrust Lebanon to the forefront of regional tussle between the Sunni monarchy of Saudi Arabia and Shi‘ite Islamist Iran, which backs Hezbollah. Hariri’s return to Lebanon followed an intervention by France. It is not yet clear if he will stick by his resignation or rescind it. Ahead of his arrival on Tuesday, Hariri said he would declare his “political position” in Beirut. More»
Amwal Al Ghad English - 2017-11-22 08:08:55
It’s usually the victors who convene peace conferences, to cement their gains, and that’s what Russia and Iran are trying to do in Syria. The wild card in their calculations is Donald Trump’s America. U.S. troops, in Syria to fight Islamic State, won’t be packing their bags now the jihadist group is essentially beaten. They’re staying on. But it’s not clear what role they’ll play in the wider Syrian conflict that’s also entering its endgame. Washington is in the unaccustomed position of watching from the sidelines -- while its rivals, and some of its allies, team up on a peace plan. Russian President Vladimir Putin is seeking agreement on that plan’s outlines when he hosts counterparts from Iran and Turkey at the Black Sea resort of Sochi on Wednesday. Some elements are clear – Bashar al-Assad is set to stay in power – and others are more contentious, like the fate of Syrian Kurds. America’s sole effective allies on the ground, they’re distrusted in Ankara and Tehran. Beyond those details, a wider pattern is emerging. America has thrown in its lot with Saudi Arabia and Israel. Ranged against that unlikely coalition is an increasingly powerful alliance between the three leaders meeting in Sochi. When it comes to designing the settlement that could reshape the Middle East, they hold most of the cards. “The future of Syria is pretty much in the hands of this triumvirate,’’ said Emile Hokayem, a senior fellow at the International Institute for Strategic Studies in London. “They’re the most dominant on the battlefield, and they’re the most dominant in terms of diplomacy. The U.S., in comparison, is strategically adrift.’’ ‘Won’t Walk Away’ The Syrian war has killed about 400,000 people and displaced millions more. The U.S. and its allies blame Assad for most of the carnage. When Defense Secretary James Mattis said last week that American forces will stick around -- “we’re not going to just walk away right now’’ -- he cited the need to ensure progress toward a viable peace. That was widely seen as code for countering Iran. While Putin’s military intervention in 2015 was the turning point for Assad, Iranian fighters also played a key role as the Syrian president regained territory from jihadists and U.S.-backed rebels. Now, the specter of Iranian dominance in postwar Syria is alarming the Saudis and Israelis, who see the Islamic Republic as their most dangerous enemy. For help, they’ve turned to Trump,  who has called Iran “the world’s leading state sponsor of terrorism.” The U.S. is eyeing ways to counter Iran across the region, according to Defense Department spokesman Eric Pahon. There’s plenty still to be done against Islamic State there too, Pahon said in an interview Monday. The jihadists still hold territory; and where they’ve already been driven out, America’s Kurdish-led allies need help “to transition to local governance, to create infrastructure, to ensure folks can get back to their homes, and to establish the security conditions that prevent ISIS from taking control again.” ‘Power Projection’ But the U.S. is also identifying “new areas’’ to undermine Iran’s influence – including in Syria, he said. “We will work with allies to put pressure on the Iranian regime, neutralize its destabilizing influences and constrain its aggressive power projection,’’ Pahon said. “I can’t get into any more detail.’’ Israel fears a renewed threat from the Iranian-backed Hezbollah militia near its borders, while Saudi Arabia, a Sunni Muslim power, sees its Shiite rival Iran gaining regional ascendancy. Yet both countries have kept channels open with Moscow, recognizing Putin’s growing clout in the Middle East. The Saudis won’t be in Sochi, but they’ve organized another meeting this week that could advance the Russian agenda. They’re hosting Syrian opposition movements, and have been pressing the biggest one to combine with two smaller factions less hostile to Assad. The main Western-backed group’s leader, Riad Hijab, unexpectedly resigned on Monday, without giving an explanation. He was an opponent of Putin’s diplomacy – and his departure could open the way for a united Syrian opposition that could go to a Russian-led peace conference in Sochi, then on to UN talks in Geneva. More»