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Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Pioneers Holding   2.84        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        Egyptians Housing Development    1.94        United Arab Shipping   0.43        Universal For Paper and Packag   4.94        Egyptian for Tourism Resorts   0.69        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Heliopolis Housing   21.65        Raya Holding For Technology An   4.57        United Housing & Development   8.93        International Agricultural Pro   2.1        Gulf Canadian Real Estate Inve   18.08        Alexandria Pharmaceuticals   45.71        Arab Cotton Ginning   2.46        Egyptian Chemical Industries (   7.26        National Real Estate Bank for    11.84        Six of October Development & I   15.03        National Development Bank   6.72        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Credit Agricole Egypt   9.04        Palm Hills Development Company   1.61        Remco for Touristic Villages C   2.13        Commercial International Bank    29.87        El Ezz Porcelain (Gemma)   1.9        Egyptian Starch & Glucose   5.4        Arab Real Estate Investment (A   0.41        South Valley Cement   3.12        Citadel Capital - Common Share   2.5        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Sharkia National Food   3.78        Egyptian Transport (EGYTRANS)   7.85        El Kahera Housing   4.97        El Shams Housing & Urbanizatio   2.45        Egyptian Kuwaiti Holding   0.7        ARAB POLVARA SPINNING & WEAVIN   2.11        Cairo Poultry   8.32        Egyptian Financial & Industria   8        T M G Holding   4.03        Asek Company for Mining - Asco   10.66        Misr Hotels   27        Egyptian Electrical Cables   0.56        Medinet Nasr Housing   22.51        Mena Touristic & Real Estate I   1.21        ELSWEDY CABLES   18        Prime Holding   0.91        Al Arafa Investment And Consul   0.17        Alexandria Spinning & Weaving    0.74        Gharbia Islamic Housing Develo   8.41        General Company For Land Recla   16.6        Alexandria Cement   8.9        Arab Valves Company   0.94        Sidi Kerir Petrochemicals   12.4        TransOceans Tours   0.09        Egyptian for Developing Buildi   6.43        Egyptian Gulf Bank   1.24        Kafr El Zayat Pesticides   18.19        Faisal Islamic Bank of Egypt -   35.1        National company for maize pro   11.86        Delta Construction & Rebuildin   4.03        Zahraa Maadi Investment & Deve   48.25        Samad Misr -EGYFERT   3.52        Egypt for Poultry   1.41        Cairo Development and Investme   11.7        Cairo Pharmaceuticals   20.1        Maridive & oil services   0.9        Suez Canal Bank   3.75        Nile Pharmaceuticals   15.81        The Arab Dairy Products Co. 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        

Egypt News

Industrial Policies Discourage Employment in Egypt : World Bank


Published 2014-09-20 13:46:06| Amwal Al Ghad English

Egypt’s labor laws and industrial policies discourage employment by raising the costs of labor and artificially reducing the price of non-labor inputs and directly encouraging the production of non labor-intensive products by tariffs and other policies, a recent World Bank study stated. The low-quality, insecure and unstable jobs can be reversed through adopting reforms aimed at reviving the private sector, promoting formal employment and engaging vulnerable population, the World Bank said in a press statement on 18 September. World Bank’s country director for Egypt, Yemen and Djibouti Hartwig Schafer said that the private sector has the potential to provide Egyptian youth with the needed job opportunities, stressing that the international organization is committed to supporting Egyptians “in improving their livelihood to participate in prosperity and growth”. The statement added that jobs in Egypt have become less likely offer social insurance or a written contract over the past 15 years, creating higher informal employment status despite the high level of educational attainment of young people.
International News
British Prime Minister David Cameron said the Scottish vote to remain in the United Kingdom has put the question of independence to rest "for a generation," but he pledged constitutional reforms to give Edinburgh greater control over its own affairs. "There can be no disputes, no reruns — we have heard the settled will of the Scottish people," Cameron said in a statement outside No. 10 Downing Street, his official residence, shortly after the results of the vote. The final count of the referendum was 2,001,926 "no" votes (55.3 percent) to 1,617,989 for "yes" (44.7 percent). More than 85 percent of eligible voters turned out. "We have chosen unity over division," Alistair Darling, head of the anti-independence campaign, said in Glasgow, one of the few areas of Scotland where the majority cast yes votes. "Today is a momentous day for Scotland and the United Kingdom as a whole." Meanwhile, Alex Salmond, the impassioned leader of the "yes" campaign, struck an upbeat tone amid defeat. To cheering supporters, he pronounced: "This has been a triumph for the democratic process and for participation in politics." Salmond resigned later Friday as both Scottish first minister as well as leader of the Scottish National Party. He said "others are best placed to take this period of opportunity forward" to hold British Parliament's "feet to the fire". NPR's Ari Shapiro, reporting from Edinburgh, tells NPR's Morning Edition that "there was a potency to the moment" when Scots went to the polls to choose their future: "People walked around Edinburgh proudly wearing kilts, waving the saltire — the blue and white Scottish flag — and, cliche though it may be, they actually did play bagpipes in the streets." The vote against independence preserves an often uneasy union that has nonetheless endured for 307 years. Even so, it is being viewed as a wake-up, and Cameron signaled a shift in the political balance between London and Edinburgh. "Scotland voted for a stronger Scottish Parliament backed by the strength and security of the United Kingdom, and I want to congratulate the 'no' campaign for that — for showing people that our nations really are better together," he said. Cameron says he's committed to giving Scotland new power over taxes, spending and welfare. He said he wants draft legislation by January, and that it should encompass other parts of the U.K. — not just Scotland but also Wales and Northern Ireland. "We now have a chance — a great opportunity — to change the way the British people are governed, and change it for the better," the prime minister said. In the final run-up to the vote, which looked likely to be a tight contest, Cameron said a split would leave him personally "heartbroken" and warned that independence for Scotland would precipitate a "painful divorce" with London. Acknowledging the unpopularity of his conservative government among more liberal-minded Scots, Cameron said bluntly: "If you don't like me — I won't be here forever. But if you leave the U.K., that will be forever." The vote means that the U.K. will not lose the oil revenues that Scotland generates and will not need to find a new location to base its nuclear arsenal. The vote has also encouraged markets, which were concerned about financial instability that would have come with a split. "This has been a long, hard fight and both sides have campaigned fiercely," Norma Austin Hart, a Labour Party member of Edinburgh City Council, was quoted by The Associated Press as saying. "It's been so intense," she said. "But the people of Scotland have decided."
MENA News
French jets struck a suspected Islamic State target in Iraq for the first time on Friday, expanding a U.S.-led military campaign against militants who have seized a third of the country and also control large parts of neighboring Syria. President Francois Hollande said Rafale jets hit "a logistics depot of the terrorists" near the city of Mosul, which has been held by Islamic State for more than three months. It promised more operations in coming days. The French military action, which follows U.S. air strikes in northern Iraq and near the capital Baghdad, appeared to win qualified endorsement from Iraq's top Shi'ite leader Grand Ayatollah Ali al-Sistani. In a Friday sermon, delivered by one of his aides, the elderly cleric acknowledged Iraq needed foreign help but said Iraq must not become subservient to outside powers. "Even if Iraq is in need of help from its brothers and friends in fighting black terrorism, maintaining the sovereignty and independence of its decisions is of the highest importance," Sistani's spokesman Sheikh Abdul Mehdi Karbala'i said. Sistani speaks for millions of Iraq's majority Shi'ites and has a worldwide following.