Daily News Egypt http://www.dailynewsegypt.com Egypt’s Only Daily Independent Newspaper In English Sat, 10 Dec 2016 12:19:30 +0000 en-US hourly 1 Egypt committed to transparency and efficient governance: Nasr http://www.dailynewsegypt.com/2016/12/10/egypt-committed-transparency-efficient-governance-nasr/ http://www.dailynewsegypt.com/2016/12/10/egypt-committed-transparency-efficient-governance-nasr/#respond Sat, 10 Dec 2016 12:12:30 +0000 http://www.dailynewsegypt.com/?p=603852 Egypt's top priority is to eliminate poverty and achieve sustainable growth, says Minister of International Cooperation

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The Minister of International Cooperation Sahar Nasr assured Egypt’s commitment to the principles of effective governance and transparency during the Open Government Partnership (OGP) summit in Paris on Saturday.

Nasr participated in a session in which Egypt, Morocco, Tunisia, and Jordan were showcased as an example of successful governments.

She emphasised that Egypt’s top priority is to eliminate poverty and achieve sustainable growth through creating job opportunities and social housing, as well as improving education and healthcare while gradually shifting into using renewable energy sources.

OGP is a multilateral initiative committed to promoting the principles of open and transparent government through civic consultation and participation, reinforcing public integrity, fighting corruption, and increasing access to new technologies to foster democracy, promote innovation, and stimulate progress.

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KarmSolar announces 3 major agreements at first annual forum http://www.dailynewsegypt.com/2016/12/10/karmsolar-announces-3-major-agreements-first-annual-forum/ http://www.dailynewsegypt.com/2016/12/10/karmsolar-announces-3-major-agreements-first-annual-forum/#respond Sat, 10 Dec 2016 12:01:09 +0000 http://www.dailynewsegypt.com/?p=603847 News will impact agribusiness, architecture, start-ups, and real estate through partnerships with EFG Hermes, RiseUp, and Azza Fahmy

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KarmSolar, a solar technology company in Egypt, made several major announcements at its first annual forum held on 8 December, which is a RiseUp Summit 2016 satellite event. The event showcased the intersection of solar energy with multiple industry sectors, including agriculture, architecture, start-ups, real estate, and the government.

KarmSolar revealed partnerships with RiseUp, Azza Fahmy, and EFG Hermes during the forum.

The company announced a technological innovation that will revolutionise the use of solar power in agribusiness in Egypt.

KarmSolar’s research and development team have created and patented a technological breakthrough that will drive significant growth of solar energy in pumping water to agricultural projects in Egypt as a result of massive cost reductions. This innovation is called the Maximum Power Point Tracking algorithm, which was designed based on local needs and specifications. In solar pumping drives, this component was previously a huge cost burden for off-grid water pumping.

“With projects like the 1.5m acres reclamation project, and the reduction of subsidies on conventional energy sources, solar pumping will come in very high demand in the next 3-5 years,” said Randa Fahmy, co-founder of KarmSolar and head of research and development. She added that the company identified the opportunity to design and develop the technology locally, and create an integrated solution that is better adapted to local needs and more efficient.

Fahmy noted that the KarmSolar patented end-product will be able to utilise the maximum available solar energy at any given moment, thereby operating at maximum efficiency.

The creative director of the luxury Egyptian jewelry house Azza Fahmy is collaborating with KarmBuild on building the KarmSolar SahlHasheesh Campus Headquarters. Azza Fahmy will implement a design methodology that places value on the character of designs and has clear interpretations of culture and heritage and translates them into modernised designs. Using this methodology, the KarmSolar SahlHasheesh Campus Headquarters features inspirations by various elements, such as the Palmetto plant, of Pharaonic and Roman origins, and Pharaonic ceilings in temples in Aswan and Nubian architecture, and finally traditional architectural motifs.

EFG Hermes Leasing, the leasing arm of leading Middle East and North Africa financial services corporation EFG Hermes, has entered into a strategic partnership to offer lease finance solutions for solar energy projects in Egypt. The collaboration with KarmSolar is the first of its kind in the industry. It will provide sustainable solar energy solutions through the structuring of financing plans tailored to Egyptian businesses with demand for renewable energy.

Wael Ziada,  the executive chairperson of EFG Hermes Finance, said that the combination of KarmSolar’s expertise in solar energy solutions and EFG Hermes Leasing’s innovative approach to financing will create new opportunities for businesses across all industries while promoting eco-friendly, environmentally sustainable solutions with a positive social impact.

“The programme is the most aggressive financing scheme for solar stations in the Egyptian market,” KarmSolar CEO and co-founder Ahmed Zahran noted.

He added that the financing agreement with EFG Hermes Leasing is a great milestone that will have significant impact on breaking those barriers.”Proving that solar energy is an accessible alternative,” he stressed.

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Kashima Antlers advance to second round of FIFA 2016 Club Word Cup http://www.dailynewsegypt.com/2016/12/10/kashima-antler-advance-second-round-fifa-2016-club-word-cup/ http://www.dailynewsegypt.com/2016/12/10/kashima-antler-advance-second-round-fifa-2016-club-word-cup/#respond Sat, 10 Dec 2016 11:59:41 +0000 http://www.dailynewsegypt.com/?p=603840 Kashima Antlers secured a dramatic victory over Auckland CIty in the final moments of the second half

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Japan’s Kashima Antlers advanced to the second round of the 2016 FIFA Club World Cup after defeating New Zealand’s Auckland City 2-1 in the opening match at the Nissan stadium in Yokohama on Thursday.

Auckland City’s Kim Daewook scored the first goal of the match at 50 minutes, before Shuhei Akasaki grabbed the equaliser only 17 minutes later.

Mu Kanazaki scored the second goal for the Kashima Antlers at 88 minutes, sealing their victory over Auckland City. Their next game will take place on Sunday against Mamelodi Sundowns, the CAF Champions League winners and Club World Cup newcomers.

The match marks the Kashima Antlers debut in this competition.

This was the 14th game for Auckland City in the tournament since it was launched in 2000, and the fourth defeat against a Japanese club.

The European and South American clubs dominated the last 12 editions of the championship. European teams have taken the title eight times, and Latin American teams have been champions four times.

The last three editions of the tournament have been won by European teams. Bayern Munich won the title in 2013, Real Madrid in 2014 and Barcelona in 2015.

Latin American teams won the title in 2000, 2005, 2006, and 2012.

Brazil’s Corinthians was the first club to lift the trophy after defeating Vasco da Gama at the Maracana in Rio de Janeiro back in 2000.

AC Milan, the winners of the 2007 FIFA Club World Cup, was the first European club to break the Brazilian hegemony on the tournament.

Moroccan Raja Casablanca and Saudi club Al-Nassr were the first Arab teams to participate in the inaugural competition held in 2000.

The 13th edition of FIFA Club World Cup includes Japan’s Kashima Antlers, New Zealand’s Auckland City, Colombia’s Atlético Nacional, South Korea’s Jeonbuk Hyundai Motors, South Africa’s Mamelodi Sundowns, Mexico’s Club América and Spain’s Real Madrid.

 

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RiseUp Summit 2016 kicks off on Friday http://www.dailynewsegypt.com/2016/12/10/riseup-summit-2016-kicks-off-friday/ http://www.dailynewsegypt.com/2016/12/10/riseup-summit-2016-kicks-off-friday/#respond Sat, 10 Dec 2016 11:27:00 +0000 http://www.dailynewsegypt.com/?p=603836 Start-ups still lack access to funding, talent, know-how, markets, and exposure, says founder

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The fourth annual RiseUp Summit kicked off on Friday with thousands of attendees gathered in Downtown Cairo in the GrEEK Campus and the American University in Cairo’s Tahrir Campus. The opening sessions featured international figures in entrepreneurship and technology.

The first panel featured a group of experts discussing why start-ups from the Middle East do not scale to Sub-Saharan Africa and vice versa. They gave an overview of both markets, touching on commonalities and differences, and some of the challenges of scaling a business, as well as the opportunities of merging both markets. Speakers on the panel were Anthony le Roux, general manager for Uber Middle East and Africa; Karim Samra, COO at the Hult Prize Foundation; Thomas Van Halen, research lead at VC4Africa; Sharif El-Badawi, partner at 500Startups; and David Van Djik, director general at the African Business Angel Network (ABAN).

Speaking on the future of mobility, head of operations for EMEA at Uber Pierre-Dimitri Gore-Coty said that today, ride-sharing accounts for under 4% of the miles driven globally, with Morgan Stanley estimating that number to rise to more than 25% by 2030. “A better future is within our grasp—where people have equal access to affordable transportation, spend less of their income on cars or commutes, and less time stuck behind the wheel,” he added.

Emeka Afigbo, strategic partner manager at Facebook, talked about the Facebook tools to build and grow a business.

In a panel on the role of media in the entrepreneurship ecosystem, a group of journalists discussed how covering entrepreneurship can help facilitate economic sustainability in Egypt and the MENA region in general, by driving more conversations around challenges, policy formation, investment, and technological education. The panelists were independent journalist and writer Elizabeth MacBride, The Economist bureau chief Roger McShane, CBC television presenter Dina Salem, CairoScene writer Valentina Primo, and Tarek Attia of the Egyptian Editors Forum.

Abdelhameed Sharara, CEO and founder of RiseUp, said that the region’s start-up scene is getting bigger and better each year, noting that there are also a lot of challenges. “Start-ups still lack access to funding, talent, know-how, markets, and exposure,” he explained. “That is what RiseUp Summit 2016 is offering the ecosystem this year: content that is 100% focused on these top five core needs.”

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Paris hosts foreign ministers for diplomatic meeting on Syria conflict http://www.dailynewsegypt.com/2016/12/10/paris-hosts-foreign-ministers-diplomatic-meeting-syria-conflict/ http://www.dailynewsegypt.com/2016/12/10/paris-hosts-foreign-ministers-diplomatic-meeting-syria-conflict/#respond Sat, 10 Dec 2016 11:24:25 +0000 http://www.dailynewsegypt.com/?p=603827 The US secretary of state and foreign ministers from Europe and the Middle East have met in the French capital to discuss ways of ending the war in Syria. All calls for a stop to the fighting have so far failed

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Saturday’s meeting in Paris has brought together the top diplomats from the US, Europe, and the Middle East in another attempt to move toward an effective peace process in Syria, where a nearly six-year-old war has killed more than 300,000 people.

Among those at the meeting are US secretary of state John Kerry, German foreign minister Frank-Walter Steinmeier, British foreign secretary Boris Johnson and Turkish foreign affairs minister Mevlut Cavusoglu, along with their counterparts from Qatar, the United Arab Emirates, Jordan, and Saudi Arabia.

Talks were to focus on ensuring humanitarian access to the northern Syrian city of Aleppo, where Syrian forces backed by Iranian militias and Russian airstrikes have been conducting a fierce offensive against rebel-held areas that has killed hundreds of civilians and displaced thousands more.

The Paris discussions will also aim to pave the way for renewed peace talks in Geneva between all of the warring parties.

“My goal in all this is … to get both sides, all of the forces, to the table in Geneva,” Kerry said in Paris on Friday night.

Endless meetings

But his frustration at the lack of progress was evident.

“I know people are tired of these meetings, I’m tired of these meetings,” he told reporters, with American and Russian officials also due to meet in Geneva on Saturday to discuss the fighting.

“But what am I supposed to do? Go home and have a nice weekend in Massachusetts, while people are dying? Sit there in Washington and do nothing?”

His comments come as Syrian president Bashar Al-Assad and his ally, Russian president Vladimir Putin, seem to be intent on pushing home their advantage, as government and allied forces draw close to completing the recapture of Aleppo, the eastern parts of which have been held by anti-government rebels since 2012.

Strained ties with Russia

Observers say that the recapture of Aleppo by the Syrian regime will, however, not spell an end to the conflict in Syria, as large swathes of the country are still under the control of Islamist extremists such as Al-Nusra and the self-styled Islamic State (IS), as well as US-backed Kurdish militias.

On Wednesday, Western powers, including the US, Britain, France, and Germany, called for an “immediate ceasefire” as the humanitarian crisis in the city grows amid increasing reports of war crimes on both sides.

The UN general assembly also voted to pass a resolution on Friday that demanded an immediate cessation of hostilities in Syria and urgent humanitarian aid access. Russia, China, and Iran all voted against the resolution, which is non-binding but carries political weight.

The conflict has exacerbated tensions between the west and Russia, with the US and Europe insisting that Al-Assad should step down to bring eventual peace to Syria, while Moscow continues to back the Syrian leader in a bid to strengthen its foothold in the Middle East.

More US troops to Syria

In another development on Saturday, US defence secretary Ash Carter said as many as 200 more American troops were being sent to Syria to help Kurdish and Arab fighters trying to retake the key IS stronghold of Raqqa.

Three hundred US troops are already in the country, authorised to recruit, organise, train, and advise local forces in their fight against IS.

Announcing the deployment at a security conference in Manama, Bahrain, Carter also decried Russia’s operations in Syria, saying Moscow had “only inflamed the civil war and prolonged suffering of the Syrian people”.

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Ministry of Endowments forms committee to review religious discourse, sermons plans http://www.dailynewsegypt.com/2016/12/10/603810/ http://www.dailynewsegypt.com/2016/12/10/603810/#respond Sat, 10 Dec 2016 11:12:04 +0000 http://www.dailynewsegypt.com/?p=603810 President Abdel Fattah Al-Sisi ordered the committee's formation, advising against unified Friday sermons

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Minister of Religious Endowments Mohamed Mokhtar Gomaa announced on Friday that a specialised committee assigned to develop religious discourse and sermons will hold its first preparation meeting on 15 December, state media reported.

The committee will reportedly discuss the strengths and weaknesses in Egyptian society in order to develop a five-year road map aimed at reforming religious discourse.

According to Gomaa, the committee will create a short-term plan addressing 54 issues, and a five year plan addressing 270 issues.

The formation of the committee comes after President Abdel Fattah Al-Sisi delivered a speech commemorating the birthday of the Prophet Muhammad on Thursday. In his speech he agreed with Gomaa who had previously said Egypt needs such a committee. Al-Sisi said that the committee should be composed of scholars of religion, psychology, and sociology.

“The issue of improving religious discourse should not be reduced to unified Friday sermons,” Al-Sisi said, expressing appreciation for the role played by the Al-Azhar institution in fighting extremist ideology.

The ministry’s imposition of unified Friday sermons raised controversy among preachers who claimed the practice undermines their intellectual capacities and skills.

 

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‘Wave of change’ in 2011 came to alter unacceptable reality: Foreign Minister http://www.dailynewsegypt.com/2016/12/10/2011s-wave-change-came-change-unacceptable-reality-foreign-affairs-minster/ http://www.dailynewsegypt.com/2016/12/10/2011s-wave-change-came-change-unacceptable-reality-foreign-affairs-minster/#respond Sat, 10 Dec 2016 11:07:11 +0000 http://www.dailynewsegypt.com/?p=603806 Shoukry in visiting Bahrain to attend the Manama Dialogue

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Egypt’s Foreign Minister Sameh Shoukry said on Saturday that the “wave of change” that swept over the Middle East region in 2011 came to alter an unacceptable reality, according to a statement issued by Ministry of Foreign Affairs.

During his opening speech at the Manama Dialogue being held in Bahrain, Shoukry said that the past five years have proved that weakening state institutions has resulted in creating political and social vacuums, like what happened in Libya, Yemen, and Syria.

The foreign minister headed to Bahrain’s capital on Friday to attend the Manama Dialogue, which is taking place between 9-11 December.

The dialogue is being organised by a British think tank, the Bahraini Foreign Affairs Ministry, and the International Institute of Strategic Studies (IISS). Twenty countries will be attending the Manama Dialogue.

On the sidelines of the event, Shoukry met with French defence minister Jean-Yves Le Drian on Saturday to discuss the visions of Egypt and France regarding the ongoing regional issues, particularly the case in Libya. They also touched upon the turmoil in Syria and the importance of access of humanitarian aid across all of Syria, as well as the importance of reaching a political solution between all political factions and entities.

Shoukry also met with the Singaporean defence minister. The latter has praised the initiative of Egypt’s President Abdel Fattah Al-Sisi to review the religious dialogue and discourse that will combat terrorism and extremism.

They also discussed bilateral relations, stressing on the importance of developing these relations in all fields.

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Cooperation protocol between Banque du Caire, 10th of Ramadan Investors Association to finance SMEs http://www.dailynewsegypt.com/2016/12/10/cooperation-protocol-banque-du-caire-10th-ramadan-investors-association-finance-smes/ http://www.dailynewsegypt.com/2016/12/10/cooperation-protocol-banque-du-caire-10th-ramadan-investors-association-finance-smes/#respond Sat, 10 Dec 2016 10:39:02 +0000 http://www.dailynewsegypt.com/?p=603818 The cooperation protocol comes within the framework of the initiative launched by the CBE at the beginning of 2016 to finance SMEs

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Banque du Caire chairperson Mounir El Zahid and head of the 10th of Ramadan Investors Association Samir Ezzat Aref signed a cooperation protocol to finance small- and medium-sized enterprises (SMEs).

The cooperation protocol comes within the framework of the initiative launched by the Central Bank of Egypt (CBE) at the beginning of 2016 to finance SMEs.

According to El Zahid, signing this protocol is part of applying the bank’s strategy towards offering support to owners of SMEs and implementing an expansion strategy to support customers in these vital sectors.

El Zahid stressed that the bank’s interest in these projects is the result of their importance in developing the national economy, as well as achieving financial inclusion and expanding the base of bank customers. Investing in such projects also aims to merge a large percentage of the informal economy with the official economy.

“The protocol includes coordinating between the two sides to develop training programmes and workshops to create awareness of these companies and the benefits offered to them through the CBE’s initiative and the credit programmes it provides, which aim to spread the banking and financial culture,” El Zahid said.

He revealed that the SMEs loans portfolio reached EGP 2.6bn by the end of October, where the portfolio’s credit increased to 15% per month since the initiative began.

El Zahid expected the loans portfolio to increase to 22% before the end of this year.

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Second bombing in Egypt kills 1 civilian, injures 3 security personnel http://www.dailynewsegypt.com/2016/12/10/1civilian-killed-3-police-personnel-injured-second-bombing-egypt-2/ http://www.dailynewsegypt.com/2016/12/10/1civilian-killed-3-police-personnel-injured-second-bombing-egypt-2/#respond Sat, 10 Dec 2016 10:37:31 +0000 http://www.dailynewsegypt.com/?p=603802 The attack in Kafr Al-Sheikh was the second to take place on Friday, after the first attack claimed the lives of six people

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One civilian was killed and three security personnel were injured as a second bomb detonated in Egypt’s Kafr Al-Sheikh governorate on Friday. The bomb was reportedly targeting a police vehicle.

The bomb was the second to go off on Friday, after an IED placed next to two security roadblocks in Al-Haram Street in Giza claimed the lives of six security personnel and injured three others, according to the Ministry of Health.

While the newly-established militant group Hasm claimed responsibility for the first explosion which occurred early on Friday morning, no one has yet to claim responsibility for the Kafr Al-Sheikh attack.

Shortly after the first attack, Minister of Interior Magdy Abdel Ghaffar said that an investigative team will focus on capturing the perpetrators. The Giza Prosecution has also begun investigating the terrorist attack.

The cabinet on Friday condemned the bombings that took place during prayer. Prime Minister Sherif Ismail said that the timing of the terrorist attacks indicate that terrorism is not related to Islam.

Grand Mufti Ahmed Al-Tayeb also condemned the terrorist attack, saying that these attacks will only motivate Egyptians to fight the terrorism that is attempting to destabilise Egypt.

Tunisia, Turkey, the American embassy, and the British ambassador, among other national and international institutions, have condemned Friday’s attacks.

Hasm has claimed responsibility for several attacks on security and police personnel over the past few months. Although it has not publicly claimed affiliation to any particular group, they are often marked as affiliates of the outlawed Muslim Brotherhood.

 

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Loan conditions do not include increasing customs tariffs: IMF http://www.dailynewsegypt.com/2016/12/10/loan-conditions-not-include-increasing-customs-tariffs-imf/ http://www.dailynewsegypt.com/2016/12/10/loan-conditions-not-include-increasing-customs-tariffs-imf/#respond Sat, 10 Dec 2016 10:27:16 +0000 http://www.dailynewsegypt.com/?p=603808 Increasing customs duties on imports is not the optimal policy for improving the payments balance, says Rice

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The recent increase on Egypt’s customs tariffs was not part of the International Monetary Fund (IMF) loan conditions, according to Jerry Rice, spokesperson of the IMF.

President Abdel Fattah Al-Sisi issued a decision last week to amend some of the customs tariff categories included in presidential Decree No.184 of 2013. The decision included non-essential goods.

Rice said in a press conference in Washington that the change in customs tariffs is compatible with Egypt’s obligations to the World Trade Organization (WTO), and that increasing custom duties on imports is not the optimal policy for improving the payments balance or the country’s financial situation.

Rebuilding the country’s foreign exchange reserves is one of the loan’s objectives, Rice told Daily News Egypt, adding that the recent increase in reserves is a result of external financial inflows obtained by Egypt from the IMF, World Bank, United Arab Emirates, and commercial banks.

The Central Bank of Egypt (CBE) announced on Monday that net foreign exchange reserves increased by roughly $4bn to register $23.05bn in November, compared to $19.04bn in October.

He added that those financial inflows assure foreign complementary finances which Egypt secured to bridge the public funding gap.

Before voting on Egypt’s loan request, the IMF stipulated that the country obtain $5-6bn of bilateral funds from supporting countries.

“Things will move forward in light of maintaining a flexible exchange rate, which is part of the objectives of the programme and determined by the market forces. It will improve the competitiveness of Egyptian exports and tourism, and attract foreign investment again. The CBE will be able to rebuild its international reserves,” Rice said.

He explained that in the next few days, the IMF will publish its staff report and Egypt’s letter of intent.

In November, the IMF agreed to lend Egypt $12bn over three years. The CBE already received the first tranche of $2.75bn.

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Hasm claims responsibility for deadly Giza bombing http://www.dailynewsegypt.com/2016/12/09/hasm-claims-responsibility-deadly-giza-bombing/ http://www.dailynewsegypt.com/2016/12/09/hasm-claims-responsibility-deadly-giza-bombing/#respond Fri, 09 Dec 2016 15:42:23 +0000 http://www.dailynewsegypt.com/?p=603712 The group vowed more attacks against police personnel

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“Hasm”, a recently-established militant group, claimed responsibility for the early Friday morning bombing in Giza, which claimed the lives of six police personnel and injured another three.

A statement from the the group claimed that their “explosives team” planted a strong improvised explosive device (IED) near to a security checkpoint on Al-Haram street.

The group vowed more attacks against police personnel.

The statement, which was posted on the group’s blog, featured images of the checkpoint in the moments before the attack.

Minister of Interior Magdy Abdel Ghaffar announced that an investigative team will focus its efforts on catching the perpetrators.

“Hasm” allegedly attempted to assassinate assistant general prosecutor Zakareya Abdel Aziz as well as the former grand mufti.

 

 

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Rafah border crossing opens for 3 days http://www.dailynewsegypt.com/2016/12/09/603688/ http://www.dailynewsegypt.com/2016/12/09/603688/#respond Fri, 09 Dec 2016 13:22:52 +0000 http://www.dailynewsegypt.com/?p=603688 For the most part, Egyptian authorities have kept the Rafah border crossing shut down since July 2013

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Egypt will open the Rafah border crossing over Saturday, Sunday, and Monday in both directions to facilitate the entrance of “humanitarian cases”, the Palestinian embassy in Egypt said.

This comes as after the approval of Egyptian President Abdel Fattah Al-Sisi, state-owned news agency MENA reported.

The border has been officially closed since 24 October 2014, following attacks on the Qarm Al-Qawadis checkpoint by “Sinai Province”. The militant group killed at least 33 military personnel. Since the attacks, the crossing has only been opened in exceptional cases, or to allow for humanitarian cases to pass.

Egyptian authorities have, for the most part, kept the Rafah border crossing shut down since July 2013. They launched a campaign to destroy the illegal, underground tunnels which have been vital in supplying Gaza residents with food, medicine, fuel and building materials.

Another method used by the Egyptian army is flooding the tunnels –  a method often condemned by the Hamas movement, the quasi ruler of the Gaza Strip.

Last Sunday, four Palestinian workers died when a tunnel was flooded between Gaza and Egypt. The incident was condemned by Hamas.

 

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In Pictures: 6 police personnel killed in IED explosion in Giza http://www.dailynewsegypt.com/2016/12/09/pictures-6-police-officers-killed-ied-explosion-giza/ http://www.dailynewsegypt.com/2016/12/09/pictures-6-police-officers-killed-ied-explosion-giza/#respond Fri, 09 Dec 2016 12:22:31 +0000 http://www.dailynewsegypt.com/?p=603691 The bomb targeted a police roadblock

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Al-Haram explosion By Asmaa Gamal Al-Haram explosion By Asmaa Gamal Al-Haram explosion By Asmaa Gamal Al-Haram explosion By Asmaa Gamal Al-Haram explosion By Asmaa Gamal
All photos by Asmaa Gamal
Full story: http://www.dailynewsegypt.com/2016/12/09/6-policemen-killed-car-bombing-giza/

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6 police officers killed in IED explosion in Giza http://www.dailynewsegypt.com/2016/12/09/6-policemen-killed-car-bombing-giza/ http://www.dailynewsegypt.com/2016/12/09/6-policemen-killed-car-bombing-giza/#respond Fri, 09 Dec 2016 11:40:56 +0000 http://www.dailynewsegypt.com/?p=603686 The bomb targeted a police roadblock

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Six police officers were killed Friday morning in an explosion believed to the be result of an IED stationed next to two security roadblocks in Al-Haram street in Giza.

The Ministry of Interior said that deaths included two officers, one non-commissioned officer, and three conscripts. Another three conscripts were wounded in the bombing.

The bombing took place before the Friday prayers, when streets are usually quiet. Al-Haram street is one of Giza’s most populated and heavily crowded roads. The bombing caused a severe change in traffic movement, causing congestion in other areas.

Police and explosive experts have been investigating the scene. While no militant group has declared responsibility of the attack so far, the most active militant group in the last three months is Hasm, which claimed to have killed and targeted several police and army personnel.

 

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UN renews push for Syria peace talks http://www.dailynewsegypt.com/2016/12/09/un-renews-push-for-syria-peace-talks/ http://www.dailynewsegypt.com/2016/12/09/un-renews-push-for-syria-peace-talks/#respond Fri, 09 Dec 2016 02:57:00 +0000 http://www.dailynewsegypt.com/?p=603634 The post UN renews push for Syria peace talks appeared first on Daily News Egypt.

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Marking fresh efforts to revive peace talks, the UN’s chief Syria mediator has called for more than “military victory.” Staffan de Mistura also said he’ll meet with US President-elect Donald Trump’s transition team.UN envoy for Syria Staffan de Mistura on Thursday said upcoming talks between Russia and the US in Geneva concerning the withdrawal of opposition fighters in Aleppo are an encouraging development towards a political solution to the conflict.

“Perhaps now is the time to actually look seriously at the possible renewal of looking at when how we can have political discussions, because there is an awareness that military victory is not peace, because peace has to be won separately,” de Misura said.

“Otherwise, we will leave with the impression, which no one wants to have, that there is only a military victory or military solution,” the UN official added.

The envoy’s comments follow a closed-door Security Council meeting to discuss Russia’s announcement that Syrian forces have stopped combat operations in rebel-held Aleppo.

De Mistura has led peace brokering efforts since 2014, when former UN chief Kofi Annan and veteran diplomat Lakhdar Brahimi quit due to a deadlock on how to achieve a political solution in Syria.

More than 300,000 people have been killed and half the population displaced since 2011, when government forces launched a brutal crackdown on peaceful protesters calling for Syrian President Bashar al-Assad to step down.

‘Unrealistic’

The UN General Assembly is expected to vote down a ceasefire resolution on Friday due to Russian and Chinese vetoes on the Security Council. However, the Assembly resolution is non-binding.

The vote will “demonstrate that there is a moral majority here,” adding that countries are “distressed that through a series of vetoes, the Security Council has failed to provide the unity necessary to change the situation in Syria,” said British ambassador to the UN Matthew Rycroft.

However, Russia dismissed the resolution, saying it would not change the facts on that ground, which show a likely victory for Syrian government forces in retaking Aleppo.

“To expect that it’s going to produce some kind of dramatic U-turn in the situation in Syria is unrealistic,” said Russian ambassador to the UN Vitaly Churkin.

Meanwhile, De Mistura announced on Thursday that he would meet “people around the team” of US President-elect Donald Trump, who is expected to be sworn in as the US president in January.

De Mistura said he had “some ideas” about how Washington “would be able to help fight terrorism in a very effective way.”

ls/bw (AFP, Reuters)

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Hillary Clinton warns against proliferation of fake news http://www.dailynewsegypt.com/2016/12/09/hillary-clinton-warns-against-proliferation-of-fake-news/ http://www.dailynewsegypt.com/2016/12/09/hillary-clinton-warns-against-proliferation-of-fake-news/#respond Fri, 09 Dec 2016 02:23:00 +0000 http://www.dailynewsegypt.com/?p=603636 The post Hillary Clinton warns against proliferation of fake news appeared first on Daily News Egypt.

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In her second public address since her concession speech the day after the November 8 election, Hillary Clinton has spoken out against fake news. This after an attack in a restaurant inspired by a fake news story.Fake news has “real world consequences” that must be addressed in order to protect the nation’s democracy, Clinton told US lawmakers on Capitol Hill in Washington where she was attending a ceremony for outgoing Democratic Senate minority leader Harry Reid.

“It’s now clear that so-called fake news can have real world consequences,” Clinton said. “This isn’t about politics, or partisanship. Lives are at risk.”

Clinton went on to blast “the epidemic of malicious fake news and false propaganda that flooded social media over the past year.” The “danger” must be addressed quickly, she added.

“It’s imperative that leaders from the private sector and the public sector step up to protect our democracy and innocent lives.”

When fake news becomes real news

A man wielding a rifle entered a pizza restaurant in Washington last week saying he wanted to investigate a fake news story that mistakenly stated the Comet Ping Pong restaurant was a center for child abduction linked to Clinton and her top advisor, John Podesta.

No one was injured when 28-year-old Edgar Maddison Welch fired off a round from his AR-15.

Letting go

“This is not exactly the speech to the Capitol I hoped to be giving after the election,” Clinton said to an audience that gave her a standing ovation as she took the stage.

“But after a few weeks of taking selfies in the woods, I thought it would be a good idea to come out.”

Afterward Clinton ignored reporters’ questions about whether fake news stories had cost her the election.

Trump won the Electoral College vote, 306-232. Clinton leads in the popular vote, 65,432,202 to Trump’s 62,793,872.

jbh/bw (AFP, AP)

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Russia: Active military operations ‘suspended’ in Aleppo http://www.dailynewsegypt.com/2016/12/08/russia-active-military-operations-suspended-in-aleppo/ http://www.dailynewsegypt.com/2016/12/08/russia-active-military-operations-suspended-in-aleppo/#respond Thu, 08 Dec 2016 18:18:00 +0000 http://www.dailynewsegypt.com/?p=603650 The post Russia: Active military operations ‘suspended’ in Aleppo appeared first on Daily News Egypt.

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Russian Foreign Minister Sergey Lavrov has said the Syrian army has stopped its attacks on eastern Aleppo to allow for citizen evacuations. The US has responded cautiously to the statements.Forces aligned with Syrian President Bashar al-Assad halted active military operations in rebel-held eastern Aleppo, Russian Foreign Minister Sergey Lavrov said on Thursday.

“Combat operations by the Syrian army in east Aleppo have been suspended because the largest operation of evacuation of civilians from east Aleppo is being carried out,” Lavrov said as quoted by Russian news agency Sputnik.

He added that around 8,000 civilians were leaving the besieged part of the city through a designated withdrawal route spreading across 5 kilometers (over 3 miles).

The US responded cautiously to the statements, saying it remains to be seen whether or not Russia follows through on helping stop the military operations.

“Our approach from the beginning has been to listen carefully to what the Russians say but scrutinize their actions,” White House spokesman Josh Earnest said at a news briefing.

“So obviously that statement is an indication that something positive could happen, but we’re going to have to wait and see whether those statements are reflected on the ground.”

Russia has maintained for weeks that its forces have not been involved in military operations over Aleppo.

Rebel withdrawal talks

Lavrov also said on Thursday that Russian and US military experts and diplomats agreed to meet in Geneva on Saturday to discuss the situation in Aleppo.

He announced the talks after speaking with US Secretary of State John Kerry at the annual Organization for Security and Cooperation in Europe (OSCE) foreign ministers meeting in Hamburg, Germany.

The two sides are set to work on a document outlining the details of the withdrawal of Syrian rebels from Aleppo’s eastern neighborhoods as well as the civilians who also wish to leave the city.

Hundreds in need of evacuation

Aid workers evacuated scores of patients trapped in Aleppo’s Old City after the Syrian army retook the area. The 148 civilians were disabled or in need of urgent mental care, the International Committee of the Red Cross (ICRC) said on Thursday. The patients had been “forgotten” and spent days in a building that once served as a home for the elderly.

Tawfik Chamaa, a representative of the Union of Syrian Medical Relief Organizations (UOSSM), warned that up to 1,500 people are in need of a medical evacuation. Chamaa added that any evacuation should have international observers to prevent the patients from being “executed or diverted on the way to the hospital.

Opposition forces are on the verge of losing control of their last strongholds due to quick advances made by Syrian government forces and its allied militias. Rebels in eastern Aleppo are currently confined to an area estimated to be just 20 percent of the original territory they held.

The three-week offensive in Syria’s second city has claimed almost 500 civilian lives as the two sides traded artillery fire and Russian and Syrian air forces carried out strikes on remaining rebel positions.

On Wednesday, six western countries including Germany and the United States called for an immediate ceasefire in the face of the humanitarian catastrophe in Aleppo.

rs/se (AP, AFP, dpa, Reuters)

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La Mode A Beyrouth: Cairo’s newest fashion marathon http://www.dailynewsegypt.com/2016/12/08/la-mode-beyrouth-cairos-newest-fashion-marathon/ http://www.dailynewsegypt.com/2016/12/08/la-mode-beyrouth-cairos-newest-fashion-marathon/#respond Thu, 08 Dec 2016 18:00:26 +0000 http://www.dailynewsegypt.com/?p=603497 For five nights, Egypt’s fashion experts and enthusiasts flocked to the Fairmont Towers in Heliopolis to witness fashion history in the making. La Mode A Beyrouth Cairo is a franchise of Lebanon’s official fashion week, which aims to bring international quality to the local market. The event was held on 19-23 November, and it debuted …

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For five nights, Egypt’s fashion experts and enthusiasts flocked to the Fairmont Towers in Heliopolis to witness fashion history in the making. La Mode A Beyrouth Cairo is a franchise of Lebanon’s official fashion week, which aims to bring international quality to the local market.

Photo Handout to DNE
Photo Handout to DNE

The event was held on 19-23 November, and it debuted this year with a long list of well-established designers from Egypt and the region. From Abed Mahfouz to Jamil Khansa, the runway unfolded next season’s top international couture trends.

With that said, the event also included the debut of a true local talent, Ahmed Fayez. Not only did his show predict an elegant season to come, but it also displayed a very promising future ahead for him.

As for the great finale, none other than the designs of Danny Atrache graced the enormous runway to declare a stunning end to a true fashion fiesta.

The event’s main goal was to bring the world’s top quality fashion straight into the heart of Cairo in order to connect the region creatively and artistically. Meanwhile, La Mode A Beyrouth Cairo also aims to become a solid platform that can help future talents reach a wider audience.

Multi Art is the main company behind the extravaganza. Along with the stunning fashion week, the company also owns a creative academy that aims to teach young talents the secrets of fashion design, modeling, and make up.

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Maksters brings Marbella to Cairo http://www.dailynewsegypt.com/2016/12/08/603494/ http://www.dailynewsegypt.com/2016/12/08/603494/#respond Thu, 08 Dec 2016 16:00:02 +0000 http://www.dailynewsegypt.com/?p=603494 Footwear is a craft that requires an artistic quality. Through the ages, shoes have been developed to accommodate a wide variety of needs and styles. From the pharaonic leather footwear to King Louis XIV’s obsession with high heels, shoes have always been at the forefront of the fashion industry. With that said, Maksters is the …

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Footwear is a craft that requires an artistic quality. Through the ages, shoes have been developed to accommodate a wide variety of needs and styles. From the pharaonic leather footwear to King Louis XIV’s obsession with high heels, shoes have always been at the forefront of the fashion industry.

With that said, Maksters is the brainchild of two artistic minds who wanted to change the game by bringing art to everyone’s feet. The Makki brothers started their journey towards linking the world through art, quality, and craftsmanship a few years ago.

Today, the duo can confidently confirm that their shoes attract diverse clients from around the world. Their handmade masterpieces are inspired by the world’s most captivating treasures and cultures. Each of their designs is created independently to stand out.

Daily News Egypt met Khaled Makki, one half of the dynamic duo, upon their launch party in Egypt to learn more about the brand, their new collection, and near-future plans.

What encouraged you to launch this collection in Egypt?

The people. The people have spoken. We have had a lot of interest over the past two or three years, especially during the past 12 months. Many people from Cairo have reached out to us asking about our outlets.

Seeing as we are launching our third global collection, we thought now would be a good opportunity to introduce our brand and test the market. Cairo has a good client base. We thought of inviting all of our friends to show them the new collection. We also wanted to meet new people and introduce them to the brand.

Photo Handout to DNE
Photo Handout to DNE

How would you evaluate the feedback so far?

It has been good so far. The feedback from people who have seen and tried our shoes has been very positive which is why we wanted to come to Egypt. We are confident we have a good product. We just want to share it with more people.

What was your main inspiration behind this collection?

This collection is very eclectic and different. Each pair is fun, different, and unique; I design them to stand out. For me, inspiration comes from different places. Nonetheless, this year I was inspired by a trip to Spain.

Spain, especially the southern parts including Marbella and Ibiza, are some of my favourite places. I was highly inspired by the mood and the vibes. Most of the colours and the geometry used in this collection come from that part of Spain.

If you would take an Egyptian symbol or concept on which you would base a collection, which would you choose?

It would probably be the hamsa hand. We have incorporated it before and it is already a very popular model. It relates to different people from various cultures. It often means something to a lot of people around the globe. So when we used it on cool fabrics with attractive colours, it worked quite well for us.

Tell us more about your materials and manufacturing process.

Everything is handmade. Our fabrics are made around Spain, Paris, and Italy; nonetheless, the overall manufacturing process takes place in the north of England. We have a small workshop, where a group of people put them together by hand.

Everything is completely made by hand; we do not have any machinery. I wanted to make something of very good quality, which would also be very well made and quite honest as well. For us, the manufacturing process in itself is very important to the brand.

Each collection takes an average of 12 months from design inception to when it is finally in the stores. We bring one collection every year. We want to create unique items, and not produce things just for the sake of it. It takes a lot of time to create each pair of shoes.

Where are you stocked in Egypt?

We have stocked some of our products at a store called 29-31 in Maadi. It is a very cool concept store that has a conceptual design which highly compliments our shoes.

Where would you like to see your shoes in Egypt?

I would love to see Mona Zaki and Donia Samir Ghanim wearing our shoes. They both symbolise different personalities; however, they are unique individuals that represent Maksters’ identity.

What is next on your agenda?

We are working on expanding our horizons beyond just shoes. We are considering adding accessories as well as a very select prêt-a-porter line of jackets and the likes. We are very excited, but we plan to do it through limited capsule collections.

 

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Al-Masry Al-Youm journalists to escalate protest by starting hunger strike if demands not met http://www.dailynewsegypt.com/2016/12/08/603622/ http://www.dailynewsegypt.com/2016/12/08/603622/#respond Thu, 08 Dec 2016 15:59:52 +0000 http://www.dailynewsegypt.com/?p=603622 The journalists gave the administration four days, until Monday, to respond to their demands

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Three protesting journalists for the privately-run Al-Masry Al-Youm decided to escalate their protest by starting a hunger strike in four days if, by that time, the newspaper’s administration does not cancel their transfer to the Alexandria office, one of the protesting journalists told Daily News Egypt on condition of anonymity.

The journalists gave the administration four days, until Monday, to respond to their demands. The journalists’ main demand is that the administration respond to the pledges it made with the Press Syndicate to cancel the transfer. They are also prepared to take a number of escalating actions starting from Monday, for their legitimate rights to be met.

These journalists previously issued a statement requesting that their case be settled immediately and that the administration issue their annual bonuses. The Press Syndicate asked Al-Masry Al-Youm to cancel the transfer decision on 29 November. The syndicate said that it had received promises from the newspaper’s administration that the transfers would be canceled, according to a statement.

The journalists started the protest on 27 November inside the newspaper headquarters against the arbitrary transfer by the administration to the Alexandria office. Al-Masry Al-Youm has a long history of suspending journalists without reason. In April, a group of journalists were also suspended from the newspaper. Following a series of escalations by the suspended journalists, the administration backtracked from the suspension decision a few weeks later.

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Religious discourse must be developed: Al-Sisi http://www.dailynewsegypt.com/2016/12/08/al-sisi-asserts-necessity-developing-religious-discourse-prophet-birthday-celebration/ http://www.dailynewsegypt.com/2016/12/08/al-sisi-asserts-necessity-developing-religious-discourse-prophet-birthday-celebration/#respond Thu, 08 Dec 2016 15:40:06 +0000 http://www.dailynewsegypt.com/?p=603620 The president discussed ways to implement the development of religious discourse with the Ministry of Religious Endowment

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On the occasion of the prophet Mohamed’s birthday, President Abdel Fattah Al-Sisi delivered a speech about the necessity of developing religious discourse.

After greeting all those attending to the celebration, the president said he agreed with the minister of religious endowments that a committee comprised of scholars of religion, psychology and sociology should be formed. These members would discuss Egyptian society’s strengths and weaknesses in order to develop a roadmap which includes all religious occasions throughout the year, as well as a plan to correct misconceptions surrounding religious discourse within five years.

The president explained that the first challenge would be the separation of religious discourse from the essence of Islam itself. He added that scientists and intellectuals have agreed that the discourse must be ameliorated so as to correct the accumulated mistakes.

The president also discussed the state’s efforts to maintain stability in Middle East, and reviewed the economic conditions of the country

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Cabinet approves draft decision to establish SMEs development authority http://www.dailynewsegypt.com/2016/12/08/cabinet-approves-draft-decision-establish-smes-development-authority/ http://www.dailynewsegypt.com/2016/12/08/cabinet-approves-draft-decision-establish-smes-development-authority/#respond Thu, 08 Dec 2016 13:26:40 +0000 http://www.dailynewsegypt.com/?p=603617 The authority’s board will be chaired by the industry minister, and the board of trustees by the prime minister

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The cabinet approved a draft resolution submitted by Minister of Trade and Industry Tarek Kabil on Thursday for the establishment of a Small- and Medium-sized Enterprises (SMEs) Development Authority, which will oversee a number of government agencies concerned with SMEs activities, the minister announced.

The minister said that the board of directors of the authority will be chaired by himself, with members including experts and related officials. He noted that a board of trustees will also be formed and headed by prime minister.

The formation of the authority aims to eliminate the existing entanglements in the work of government bodies, in order to eventually lead to the advancement of SMEs.

The authority will study and examine the policies, strategic plans and legislation related to financing and entrepreneurship. It will also provide non-financial services. This would that the Social Fund for Development is restructured, which is a key focus of the work of the new authority without prejudice to the status of workers.

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Kafr El-Sheikh governorate grants EBSC 50,000 feddans for usufruct for 20 years http://www.dailynewsegypt.com/2016/12/08/kafr-el-sheikh-governorate-grants-ebsc-50000-feddans-usufruct-20-years/ http://www.dailynewsegypt.com/2016/12/08/kafr-el-sheikh-governorate-grants-ebsc-50000-feddans-usufruct-20-years/#respond Thu, 08 Dec 2016 13:17:45 +0000 http://www.dailynewsegypt.com/?p=603615 The Egyptian Black Sand Company (EBSC) signed an usufruct agreement with Kafr El-Sheikh governorate for 50,000 feddans of land designated for establishing a black sand separation plant. A source at the company said that the cost of the plant is $35m. EBSC set 30 December as the deadline for global companies to obtain the brochure …

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The Egyptian Black Sand Company (EBSC) signed an usufruct agreement with Kafr El-Sheikh governorate for 50,000 feddans of land designated for establishing a black sand separation plant.

A source at the company said that the cost of the plant is $35m.

EBSC set 30 December as the deadline for global companies to obtain the brochure terms for supplying drilling machinery and equipment, the source added.

He explained that a tender will be posed—limited to 26 Australian, English, Canadian, Chinese, Indian, German, American, Dutch and Finnish companies. Any technical and financial envelopes received will be considered until the end of February 2017.

The EBSC was founded in February 2013 with a capital of EGP 1bn; the board of directors includes a chairperson and eight members. The shareholders include five members of the National Service Products Organisation (NASPO) with a 61% share, as well as one member from the Nuclear Materials Authority of Egypt with a 15% share, one member of the National Investment Bank with 12%, one member from Kafr El-Sheikh governorate with 10%, and one member from the Egyptian Mineral Resources Authority with 2%.

The extraction of economic minerals from the black sand in Borollos is a major project with huge revenues expected.

Sand is pulled up and processed to extract six minerals: ilmenite, magnetite, rutile, zircon, garnet and monazite. These minerals are bases for 100 types of basic, medium, and high technology industries, including ceramics, paints, high-quality water purification and treatment devices, advanced military industries, and transportation.

According to the feasibility study conducted by the Australian Mineral Technology Company, the investment cost of the separation plant amounts to $120m, while annual operational costs register $45. On the other hand, net profit after deducting tax could reach $45m.

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Afreximbank funds EGPC with $200m http://www.dailynewsegypt.com/2016/12/08/afreximbank-funds-egpc-200m/ http://www.dailynewsegypt.com/2016/12/08/afreximbank-funds-egpc-200m/#respond Thu, 08 Dec 2016 13:06:42 +0000 http://www.dailynewsegypt.com/?p=603613 The African Export–Import Bank (Afreximbank) signed a credit facility agreement worth $200m with the Egyptian General Petroleum Corporation (EGPC) on Thursday to support the expansion of electricity generation and distribution in the country. Head of the bank, Benedict Okey Oramah, said the facility will secure the required fuel to support Egypt’s industrial sector through financing …

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The African Export–Import Bank (Afreximbank) signed a credit facility agreement worth $200m with the Egyptian General Petroleum Corporation (EGPC) on Thursday to support the expansion of electricity generation and distribution in the country.

Head of the bank, Benedict Okey Oramah, said the facility will secure the required fuel to support Egypt’s industrial sector through financing fuel imports.

He added that the facility is part of the bank’s strategy to support key sectors that could support the industrialisation of Africa. Over the past few years, the bank granted $2bn worth of credit facilities in the field of power generation and distribution in Egypt and export of energy products from Egypt to the rest of Africa.

The bank has agreed to give more than $7bn in facilities to Egyptian entities, of which $5bn have been disbursed, The bank’s credit portfolio for Egypt amounts to over $4bn.

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EBRD, QNB Alahli fund SMEs with $140m http://www.dailynewsegypt.com/2016/12/08/ebrd-qnb-alahli-fund-smes-140m/ http://www.dailynewsegypt.com/2016/12/08/ebrd-qnb-alahli-fund-smes-140m/#respond Thu, 08 Dec 2016 12:56:20 +0000 http://www.dailynewsegypt.com/?p=603600 The European Bank for Reconstruction and Development (EBRD) is partnering with QNB Alahli to support small- and medium-sized enterprises (SMEs) and energy efficiency in Egypt with a $140m financial package. QNB Alahli is one of the EBRD’s largest clients in the financial sector, with a partnership totalling $370m dedicated to supporting SMEs, trade, and the …

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The European Bank for Reconstruction and Development (EBRD) is partnering with QNB Alahli to support small- and medium-sized enterprises (SMEs) and energy efficiency in Egypt with a $140m financial package.

QNB Alahli is one of the EBRD’s largest clients in the financial sector, with a partnership totalling $370m dedicated to supporting SMEs, trade, and the green economy.

The current package includes a loan of up to $100m for on-lending to SMEs and a credit line of up to $40m for energy efficiency investments—this consists of $20m committed by the EBRD and $20m expected to be co-financed by the European Investment Bank (EIB) which is supported by a $5.8m grant provided by the European Union Neighbourhood Investment Facility.

Mohamed El Dib, chairperson and managing director of QNB Alahli, said cooperation with the EBRD in these remarkable transactions are in line with the bank’s ambitions to support Egypt’s business and social community, its economic development—with particular emphasis on development of the SME segment—and Egypt’s international trade, as well as the promotion of the green economy.

“The European Union has provided a €23m grant through the SEMED Sustainable Energy Financing Facility to help dismantle the numerous barriers that face the private sector and are preventing financial institutions, strategic investors and project managers from operating actively and efficiently in financing sustainable energy projects,” said Diego Escalona Paturel, head of Cooperation at the EU Delegation to Egypt.

The EBRD has invested close to €2bn in Egypt through 36 projects since the start of its activities in the country at the end of 2012.

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Inflation rises to 19.4% in November http://www.dailynewsegypt.com/2016/12/08/inflation-rises-19-4-november/ http://www.dailynewsegypt.com/2016/12/08/inflation-rises-19-4-november/#respond Thu, 08 Dec 2016 12:41:58 +0000 http://www.dailynewsegypt.com/?p=603598 Inflation rises to 19.4% in November

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The annual inflation rate has registered a record high since 2008 on the back of the flotation of the Egyptian pound, according to the Central Agency for Public Mobilization and Statistics’ (CAPMAS) monthly bulletin on inflation.

According to CAPMAS indicators, inflation hit 19.4% in November, up from 13.6% in October.

The report noted that livestock and poultry prices rose by 4.2%; cereals and bread by 6.7%; vegetables by 3.3%; dairy, cheese and eggs by 6.6%; oils and fats by 8.5%; and sugar by 14.5%.

Clothing and footwear prices rose by 11.0%; transport by 12.6%; cigarettes and tobacco by 8.6%; healthcare by 5.5%; furniture and household equipment by 7.9%; housing, water, electricity, gas and fuel by 3.5%.

The annual inflation rate marked a 20.2% increase in November compared to November 2015.

The marked increase, according to CAPMAS, is due to the implications and effects of floating the pound and raising fuel prices.

Miscellaneous goods and services were up by 25.2%, which contributed 0.56% to the annual growth rate, especially as personal care prices went up by 23.1% and gold by 80.7%.

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Uber to fully forgo its 20% service fee until 31 January 2017 http://www.dailynewsegypt.com/2016/12/08/uber-fully-forgo-20-service-fee-31-january-2017/ http://www.dailynewsegypt.com/2016/12/08/uber-fully-forgo-20-service-fee-31-january-2017/#respond Thu, 08 Dec 2016 11:46:11 +0000 http://www.dailynewsegypt.com/?p=603596 Uber announced that it will not raise the fares for its riders and will also fully forgo its service fee—20% of every trip—so as to increase profits for its drivers until 31 January 2017 in celebration of Uber’s two-year anniversary. In light of the current economic situation and the increase in fuel prices, this strategy …

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Uber announced that it will not raise the fares for its riders and will also fully forgo its service fee—20% of every trip—so as to increase profits for its drivers until 31 January 2017 in celebration of Uber’s two-year anniversary.

In light of the current economic situation and the increase in fuel prices, this strategy will allow every driver on the Uber platform to keep 100% of the fare from each completed trip. This also means that fare prices, which have remained the same since Uber launched two years ago, will remain unchanged for all riders in the short term.

Abdellatif Waked, Uber Egypt’s General Manager, expresses his satisfaction in being able to give back to every rider and driver who believes and supports Uber technology. “Partner drivers and riders are at the core of the success we have seen in Egypt. On Uber’s second anniversary, there is no better feeling than giving back to drivers and ensuring Uber riders have the most affordable ride in town. With the increase in the cost of living, we would like to lighten the burden of transportation as, after all, we are all in this together,” he said.

Until Uber has decided how it will best balance fare prices with the increase in fuel prices, amid the current economic situation, the move to fully forgo the service fee has been implemented—starting from November 28 until the end of January 2017.

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Electricity minister to send president memo on Dabaa negotiations next week http://www.dailynewsegypt.com/2016/12/08/electricity-minister-send-president-memo-dabaa-negotiations-next-week/ http://www.dailynewsegypt.com/2016/12/08/electricity-minister-send-president-memo-dabaa-negotiations-next-week/#respond Thu, 08 Dec 2016 11:30:50 +0000 http://www.dailynewsegypt.com/?p=603594 The ministry has banned officials from comment until the contracts are complete; negotiations are in final phase, says minister

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Minister of Electricity Mohamed Shaker is set to present a detailed memo to the president next week, on the latest developments of the Dabaa nuclear plant negotiations with Russian company Rosatom.

A government source told Daily News Egypt that negotiations are very accurate and discrete. both parties are discussing the safety of reactors during the establishment phase and the provision of nuclear fuel. “Every decision will be final,” he stressed.

The source said added that the consultant hired by the Ministry of Electricity has attended all negotiations, and 90% of the contracts are finalised.

The Ministry of Electricity has banned all its officials from discussing the negotiations.

Shaker told Daily News Egypt that the negotiations are in their final stage.

The source also said that a high-level Russian delegation will arrive in Cairo next week to follow up the project site measurements in Dabaa.

The Egyptian government agreed with Rosatom to establish Dabaa nuclear power plant with a 4,800MW capacity. The agreement includes building nuclear fuel storage facilities to supply the nuclear plant with the required nuclear fuel throughout the 60-year operational period. Rosatom will also manage nuclear waste, maintenance, and operations for 10 years.

Russia will provide Egypt with a $25bn loan to finance the necessary construction equipment and the operation of the plant in Dabaa.

The loan is used to finance 85% of the value of each contract to implement works, services, and shipments for the project. The Egyptian side will pay the remaining 15% in the form of instalments. The amount will be paid for the benefit of authorised Russian institutions according to the contracts, either in the form of an advance or as a payment that is made later after implementing the works and services, and delivering supplies. The loan has a 13-year term from 2016 to 2028, with a 3% annual interest rate.

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Human rights lawyer Azza Soliman released on EGP 20,000 bail http://www.dailynewsegypt.com/2016/12/08/human-rights-lawyer-azza-soliman-released-egp-20000-bail/ http://www.dailynewsegypt.com/2016/12/08/human-rights-lawyer-azza-soliman-released-egp-20000-bail/#respond Thu, 08 Dec 2016 11:08:59 +0000 http://www.dailynewsegypt.com/?p=603592 The lawyer was arrested from her home on Wednesday for investigations into her involvement in the “NGOs’ foreign funding” case

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Human rights lawyer Azza Soliman was granted release on EGP 20,000 bail pending investigations on Wednesday. She was arrested from her home that same day in order for investigations to be conducted into her involvement in the NGOs foreign funding case.

The arrest warrant for Soliman, co-founder and director of the Centre for Egyptian Women Legal Assistance (CEWLA), was issued by Judge Hesham Abdel Mageed, who is investigating the foreign funding case. A number of other prominent human rights defenders accused in the NGOs case have had their assets frozen.

Several public figures and politicians expressed their solidarity with her, condemning the way in which she was arrested.  Several prominent lawyers accompanied her to the prosecution for the investigations.

On 22 November, Soliman filed an appeal against the decision ordering that her assets be frozen—issued by the general prosecutor. She was told that her assets were frozen by bank employees.

On 19 November, Soliman was barred from travelling to the Jordanian capital of Amman to attend a human rights conference. The security forces at the airport failed to provide her with a reason for the travel ban. Soliman told Daily News Egypt back then that she will visit the general prosecutor to understand the reasons behind the decision.

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Al-Sisi visits Huawei Pavilion at 20th round of Cairo ICT http://www.dailynewsegypt.com/2016/12/08/al-sisi-visits-huawei-pavilion-20th-round-cairo-ict/ http://www.dailynewsegypt.com/2016/12/08/al-sisi-visits-huawei-pavilion-20th-round-cairo-ict/#respond Thu, 08 Dec 2016 10:55:06 +0000 http://www.dailynewsegypt.com/?p=603590 Huawei has made great contributions to building digital societies across the world which aligns with Egypt’s current goals, says Al-Qadi

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President Abdel Fattah Al-Sisi visited Huawei’s pavilion at the 20th round of the Cairo ICT exhibition and recognised the brand’s vision and contribution to the Egyptian market. The president was accompanied by Minister of Communications and Information Technology Yasser Al-Qadi and executive director of Smart Africa Hamadoun Touré.

Al-Qadi said the upcoming period will see an increase in the dependence on ICT. Huawei is one of the most important companies in the field of digital transformation and has made great contributions to building digital societies across the world which aligns with Egypt’s current goals, he added.

Touré also expressed his recognition of Huawei as an active ICT partner in Africa. “As a global leading ICT solutions provider, Huawei has been continuously making significant contributions to provide telecom connectivity. I believe Huawei’s expertise and experience will promote Egypt’s digital economy,” he said.

Terry Liu, CEO of Huawei Egypt, said  the brand is committed to being the strategic partner to Egypt’s ICT development through empowering digital transformation in Egypt across key industries, which will benefit society as a whole.

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