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UBS buys 5 pct stake in Israel Discount, may buy more

JERUSALEM: Israel’s government sold a 5 percent stake in Israel Discount Bank to UBS on Tuesday, lowering its holding in the country’s third-largest bank to 15 percent, the Finance Ministry said. The ministry did not provide details of the deal other than UBS was one of four foreign investment banks to submit bids. A source …

Daily News Egypt

Feeder vessels carrying Egyptian imports get discount rate

  The Suez Canal Authority (SCA) will extend feeder vessels, with a load capacity of 5,000 tons, a discount of up to 30 percent on the charges paid to the authority, which is valid for six months, Al-Mal reported, citing a new SCA regulation.   The authority, however, has restricted the discount to vessels that …

Daily News Egypt Authors

Egypt mobile firms offer discounts during Ramadan

CAIRO: Egypt s trio of mobile operators are taking their battle for consumer loyalty into the Muslim holy month of Ramadan, offering rate reductions for pilgrims and charity initiatives aimed to benefit the poor in Egypt. The moves reflect increasingly fierce competition between Mobinil, Vodafone Egypt and Etisalat Egypt, which have all slashed rates to …


TRAVEL: Amsterdam: Town of wonders can be had for discount

Amsterdam is defined by its canals. Built 400 years ago in concentric horseshoes, they are the rib cage of the city. Coasting their waters on a canal boat opens windows onto a history of vast wealth and global power. The cobbled streets alongside the canals are scenic urban pathways for walking or biking. And they …

Daily News Egypt

Egypt depends on the Suez Canal as a major source of foreign currency, dollars, besides remittances from Egyptians abroad, and Egyptian exports and tourism revenues.

(Photo courtesy of Suez Canal Authority)

334 ships transit Suez Canal last week carrying 17.4m tonnes

Suez Canal traffic data showed that 334 ships transited the canal from 14 to 20 October, with a total load of 17.4m tonnes. An average of 47.7 ships transited the canal per day during that period, with an average load of 2.49m tonnes per day. The average load per ship was about 52,100 tonnes during …

Mohamed Ahmed

amr adib Al-Shaab Yoomor

Al-Shaab Yaamor: an initiative for company marketing

The escalating price hikes are a hot debate in Egypt; citizens are expressing their frustration and worry following the successive price increases across all goods and commodities, especially food commodities, fruits, vegetables, and other durable goods. In light of the price hikes, Egyptian TV presenter Amr Adib proposed an initiative for companies to reduce their …

Shaimaa Al-Aees

Egypt and Russia conducted a naval exercise in the Mediterranean

275 ships transit Suez Canal in 6 days

Suez Canal traffic data showed that 275 ships transited the canal, with a total load of 16.8m tonnes, from 8-13 October. An average of 45.83 ships passed through the canal per day during that period, with a daily average load of 2.8m tonnes. The average load per ship was about 61,000 tonnes. Before the inauguration …

Mohamed Ahmed

Mohamed Khattab, executive manager and managing director at Sphinx Glass Ltd

Glass industry in Egypt is in danger: Sphinx Glass Ltd executive manager

The flat glass industry in Egypt is in danger due to rising costs, the foreign currency shortage, and the lack of some production inputs, according to Mohamed Khattab, executive manager and managing director at Sphinx Glass Ltd, and member of the Chamber of Chemical Industries at the Federation of Egyptian Industries (FEI). Khattab said that …

Samira Saeed