Egyptian brokerage firms aim to expand in Gulf markets
Last year, the UAE markets witnessed a series of IPOs that were the strongest in the history of financial markets in the region. The largest entities and financial brokerage companies are already present in the Arabian Gulf, led by EFG Hermes, CI Capital, Naeem Holding, and a number of major financial brokerage companies. He added that brokerage firms should focus on increasing their profitability margins from the Egyptian market, and not focus on seizing an arrangement in “ranking” but rather on the quality of service provided while raising commissions, explaining that competition between brokerage firms over commissions reduced the quality of services provided in the Egyptian market. He explained that the Egyptian market enjoys promising opportunities for several axes, including that it is the largest market with the number of individuals present in the region. Pioneers Securities Brokerage ranked 8th in terms of trading values in the main market, accounting for 3.6% of the market share.
Source:Daily News Egypt
July 03, 2023 18:44 UTC
Egypt receives 15 new railway coaches from Hungary
Egyptian Transport Minister Kamel al-Wazir on Sunday announced the arrival of a new batch of railway passenger coaches, with a total of 15 air-conditioned third-class coaches coming from Hungary, to Alexandria Port. This batch brings the total of what has been shipped since the beginning of the signing of the deal with the Russian-Hungarian coalition Transmashholding to 785 vehicles (499 dynamic ventilation coaches – 286 third-class air-conditioned coaches). The rest of the coaches will arrive in batches according to the scheduled timetable. The deal comes as part of an agreement concluded between the Transport Ministry, represented by the Egyptian National Railways, and the Hungarian “Ganz-Mavag” company to manufacture and supply the rest of the remaining coaches out of the total deal of 1,300 new railway coaches. The Hungarian company will supply 50 new buffet coaches that will operate on air-conditioned third-class Russian trains, bringing the total coaches to 1350 – the largest deal in the history of the authority.
Source:Egypt Independent
July 03, 2023 15:44 UTC
Exclusive: Zelensky calls Putin ‘weak’ and says Russian President’s power is ‘crumbling’
Odesa, Ukraine CNN — Vladimir Putin’s response to the armed Vladimir Putin’s response to the armed Wagner rebellion was “weak” and the Russian President is losing control of his own people, Ukrainian President Volodymyr Zelensky told CNN in an exclusive interview. It’s weak,” Zelensky told CNN’s Erin Burnett in Odesa, in an interview taped on Sunday. Zelensky told CNN he was “surprised” to see his meeting with Burns reported in the media. Speaking at a news conference in Kyiv Saturday, Zelensky said Prigozhin’s rebellion had “greatly affected Russian power on the battlefield” and could be beneficial to Ukraine’s counteroffensive. Asked whether there was any scenario under which there could be peace without Crimea, Zelensky said: “It will not be victory then.”
Source:Egypt Independent
July 03, 2023 15:29 UTC
United Media Services invites famed blogger & travel dancer Noel Robinson to visit Aswan
United Media Services invited famed blogger and travel dancer Noel Robinson to visit Aswan. Robinson performed his dazzling dances in the iconic landmarks of Aswan including Philae Temple.
Source:Egypt Today
July 03, 2023 15:14 UTC
$50 billion in revenues from the Suez Canal in 10 years
CAIRO - 3 July 2023: In recent years, the Suez Canal has achieved unprecedented rates that broke all levels, especially those that followed the digging of the new Suez Canal. The canal was able to overcome the fluctuations in the global economy after the Corona pandemic and the repercussions of the Russian-Ukrainian war. The Central Agency for Public Mobilization and Statistics monitored the development of the Suez Canal revenues in the last ten years, as the value of the Suez Canal revenues amounted to 50.9 billion dollars. • $5.7 billion in 2017/2018, an increase of 15.4%. • $5.7 billion in 2018/2019, an increase of 0.4%.
Source:Egypt Today
July 03, 2023 14:20 UTC
Women's World Cup 2023: start date, schedule, teams, venues and final
July 3 (Reuters) - Here's what you need to know about the 2023 FIFA Women's World Cup, which is being held in Australia and New Zealand:WHEN DOES THE WOMEN'S WORLD CUP 2023 START? * This year's Women's World Cup in Australia and New Zealand will be held from July 20-Aug. 20. The World Cup will feature 32 teams and begin with a group stage, with teams divided into eight groups of four. * Games will take place at 10 stadiums -- Lang Park, Hindmarsh Stadium, Melbourne Rectangular Stadium, Perth Oval, Stadium Australia, Sydney Football Stadium, Dunedin Stadium, Eden Park, Waikato Stadium and Wellington Regional Stadium. * The final will take place on Sunday, Aug. 20 at Stadium Australia in Sydney.
Source:Egypt Today
July 03, 2023 06:52 UTC
South Korea is cutting ‘killer questions’ from an 8-hour exam some blame for a fertility rate crisis
Seoul, South Korea CNN — Raising a child in South Korea is no easy task. As a result, the hagwon industry in South Korea is massive, and profitable. Of the nearly 60,000 middle and high school students surveyed nationwide, almost a quarter of males and one in three females reported experiencing depression. Activists say South Korea needs deeper change instead, such as dismantling entrenched gender norms and introducing more support for working parents. Some agreed the private education sector needed reform, but doubted the effectiveness of this move.
Source:Egypt Independent
July 03, 2023 01:39 UTC
Sierra Leone election observers flag ‘statistical inconsistencies’
European election observers in Sierra Leone said there were “statistical inconsistencies” in the presidential results published by the electoral commission, which declared President Julius Maada Bio the winner of Saturday’s vote. Sierra Leone’s chief electoral commissioner, Mohamed Kenewui Konneh, told Reuters the disaggregated results would be uploaded to the website “in due course” but that it would take time. Kamara has rejected the outcome, saying the results were not credible. The EU observation mission said in a statement that there were inconsistencies between the first and second batch of presidential results, including “notable discrepancies in the number of average valid votes per polling state”. A spokesperson for the electoral commission declined to comment on alleged irregularities, saying he had not seen the mission’s statement.
Source:Egypt Independent
July 03, 2023 01:39 UTC
Direct flights between Tehran, Cairo may resume soon: Tasnim
Iran and Egypt are in talks to resume direct flights between their capitals, according to the Iranian semi-official news agency Tasnim. The announcement comes amid a thawing of relations between Cairo and Tehran, which have been severed since the Islamic Revolution in 1979. The Supreme Leader of Iran Ayatollah Ali Khamenei said in a tweet in May that Tehran welcomes better diplomatic relations with Egypt. The talks to resume direct flights between Tehran and Cairo are still ongoing, but the announcement by Tasnim suggests that they are making progress. If the flights are resumed, it would be a sign of the continued thawing of relations between Cairo and Tehran and would help to promote peace and stability in the region.
Source:Daily News Egypt
July 02, 2023 15:21 UTC
Egypt extends condolences to Kenya over victims of tragic road accident
CAIRO – 2 July 2023: Egypt has extended condolences to the Kenyan government and people over victims of the tragic car crash at the Londiani Junction along the Nakuru-Kericho highway. Foreign Ministry spokesman Ahmed Abu Zeid, in a tweet Sunday, wished the injured a speedy recovery. At least 51 people were killed in western Kenya on Friday after a truck crashed into other vehicles and pedestrians. According to the Kenyan Red Cross, 32 injured people were move to the hospital. “The country mourns with the families who have lost loved ones in a horrific road accident in Londiani,” Kenyan President William Ruto wrote on Twitter.
Source:Egypt Today
July 02, 2023 12:50 UTC
UAE raises diesel and gasoline prices in July, aligned with international crude oil rates
The UAE has announced an increase in diesel and gasoline prices, in accordance with the country's pricing mechanism tied to international crude oil rates, revealed the Emirates General Petroleum Corporation, known as “Emarat,” responsible for operating fuel stations, in a Twitter update. Diesel prices also saw an increase to reach AED 2.76 per liter in July, up from AED 2.68 in June, with the price of E-plus 91 rising to AED 2.81 per liter, compared to AED 2.76 in the previous month. The slight increase in in petrol prices follows a small reduction observed in the previous month, as reported by UAE media outlets. Since adopting a liberalized approach to petrol prices in 2015, the UAE has allowed rates to align with market dynamics, resulting in fuel prices that often fluctuate in response to global trends. In May, Egypt’s Fuel Automatic Pricing Committee (FAPC) raised diesel prices by EGP 1 to EGP 8.25, while maintaining the prices of all other gasoline types.
Source:Egypt Today
July 02, 2023 11:58 UTC
Pastoralists are an asset to the world – and we have a lot to learn from them
Many policies are directed at transforming mobile pastoralists into settled agriculturalists or urban dwellers. Whether it’s due to climate change, market volatility or pandemic outbreaks, we don’t know what the future will hold. Our work in Sardinia in Italy shows how pastoralists engage with informal “real markets” to confront market volatility and uncertainty. A lifeline to the futureA world without pastoralists would be a poorer place materially, environmentally and culturally. And we would lose a lifeline to the future, where we can learn how to live with and from uncertainty, just like pastoralists have always done.
Source:Daily News Egypt
July 01, 2023 20:53 UTC
Intel’s Advanced Packaging: Revolutionizing Chip Packaging Technology
Intel held a roundtable in which experts discussed the corporate’s adopted strategy in advanced packaging and the capabilities this technology offers its customers. Advanced packaging is a set of technologies that combines and interconnects multiple chips in one package. Intel explained that In addition to cost-savings, advanced packaging allows chip architects to build devices with better performance and more functionality that would otherwise not be possible. Intel® Data Center GPU Max is an example of a product that cannot be built without advanced packaging. The advanced technology also opens the door to many professionals to make use of it in order to come up with better solutions.
Source:Daily News Egypt
July 01, 2023 19:57 UTC
Explosion at chemical factory in China
Hong Kong CNN — An explosion at a chemical plant in Southeast China on Saturday sent huge billows of thick black smoke into the air. The blast took place at a plant owned by the silicon oil production company Jiangxi QianTai New Materials at around noon in the city of Guixi, Jiangxi province, according to Chinese state media outlet CCTV. Footage posted on Weibo by CCTV and People’s Daily, another Chinese state media outlet, showed a huge plume of black smoke billowing into the air and emergency services attending to the scene. Initial reports suggest that the explosion occurred after silicon oil caught fire, according to CCTV. Authorities are investigating the cause of the fire that led to the explosion.
Source:Egypt Independent
July 01, 2023 19:01 UTC
Giza Zoo visitors total 250,000 by 4th day of Eid al-Adha
The number of visitors to Giza Zoo rose to 250,000 from Wednesday to Saturday, the fourth day of Eid al-Adha, the Agriculture Ministry announced. The turnout of visitors from various governorates to Giza Zoo doubled in spite of high weather temperatures. Ragai told Al-Masry Al-Youm on Saturday, that the animal museum at the zoo witnessed a high turnout during the fourth day of Eid, in addition to the Royal Mountain. Visitors also enjoyed riding the trackless train, one of the more distinctive entertainment features of the Giza Zoo, and paddle boats in the lakes region, which witnessed a great turnout during the fourth day of Eid al-Adha, he said. The Giza Zoo features a diverse collection of wildlife, encompassing over 4,000 species of animals, including more than 3,000 species of birds and 369 species of reptiles, Ragai said, with the rest being a variety of mammals.
Source:Egypt Independent
July 01, 2023 18:37 UTC