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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

SISI in suez canal anniversary (4)

263 ships transit the Suez Canal in 6 days carrying 15.8m tonnes

Suez Canal traffic data showed that 263 ships transited the canal, with a total load of 15.8m tonnes, from 12-17 November. An average of 43.83 ships transited the canal per day during that period, with an average load of 2.63m tonnes per day. The average load per ship was about 60,070 tonnes during that period. …

Mohamed Ahmed


Egyptian banks emerge as net winners post-25 January Revolution

Financial Times—Egyptian banks emerged as net winners after the 25 January Revolution in 2011 on significant net interest margin (NIM) expansion, supported by record-high treasury yields over 2012-2016. For the past six years, banks have been channeling excess liquidity to treasury investments. As such, banks’ treasury investments reached circa 45% of assets as of mid-2016 …

Daily News Egypt

Transition is never easy, and creating a new model of economic growth inevitably generates resistance

(AFP Photo)

270 ships transit Suez Canal in 6 days carrying 14.9m tonnes

Suez Canal traffic data showed that 270 ships transited the canal with a total load of 14.9m tonnes from 5-10 November. An average of 45 ships transited the canal per day during that period, with an average load of 2.48m tonnes per day. The average load per ship was about 55,200 tonnes. Compared to July …

Mohamed Ahmed