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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        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        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

Ex-Minister Of Trade & Industry Gets 15 Years In Prison For Graft


Published 2014-08-21 08:38:51| Amwal Al Ghad English

Cairo's criminal court has sentenced Hosni Mubarak-era minister Rachid Mohamed Rachid and his daughter Alya in absentia on charges of graft. The court also slapped the defendants with a LE522 million ($74 million) fine for illegally amassing a fortune of LE0.5 million ($71,400) and smuggling it to Cyprus without declaring the money to authorities. The alleged smuggling took place after Rachid left his ministerial post and fled the country following Egypt's January 2011 uprising. From 2004 to 2011, Rachid – who currently resides outside of the country – served as trade and industry minister for ousted president Mubarak. In 2011, in the wake of Egypt's Tahrir Square uprising, the former minister was sentenced in absentia to 20 years in prison on graft and corruption charges. Last year, Rachid settled two other legal cases in which he had been accused of squandering public funds while serving as trade minister, by paying a fine of LE15 million (roughly $2.2 million) to Egyptian authorities.
International News
Sandi Sesay’s boss promised him three months of pay when he told the driver to stop coming to work. The goal was to prevent any possible spread of Ebola at the Sierra Leone mine that employs him. Two weeks later, Sesay, 29, has yet to see any money from Dawnus Construction Ltd., a contractor at London Mining Plc (LOND)’s Marampa iron-ore deposit. “I take care of my mother, my sisters and my wife and three children,” he said at a gas station near his home, wearing jeans and a white long-sleeve T-shirt. “How am I going to cope?” Sesay’s and Sierra Leone’s prospects were bright before the worst-ever outbreak of the virus. The economy was set to grow 14 percent, almost three times faster than the average in sub-Saharan Africa. In Liberia and Guinea, investment in iron ore was luring billions of dollars and fueling growth. Then the first case of Ebola appeared in December. Initially tagged as a short-term phenomenon with limited impact, the disease now threatens to cripple three economies with a combined gross domestic product of about $13 billion -- less than that of Afghanistan. Commodity companies are slowing production and airlines are shutting routes. In Liberia, the government says the economic impact threatens to derail progress made since the end of the civil war in 2003. Sierra Leone canceled the first sale of bonds open to foreigners last week.
MENA News
Prime Minister Benjamin Netanyahu said Israeli forces will keep hunting down leaders of Hamas in the Gaza Strip after killing the wife and child of the group’s militia chief in an air raid. “The commanders of terror organizations are a legitimate target,” Netanyahu said last night at a Tel Aviv news conference. “No one is immune.” The prime minister brushed off a question about whether the air strike Aug. 19 killed Mohammed Deif himself, the head of the Qassam Brigades that Israel has tried to assassinate five times and has left crippled. The militia said Deif had survived the attack, which led to a renewed barrage of rockets at Israel following a nine-day truce. The latest surge in violence occurred after Israeli and Palestinian negotiators in Cairo failed to prevent the temporary cease-fire from unraveling. Fighting since early July has killed at least 2,049 Palestinians, including hundreds of civilians, according to the Hamas-controlled Health Ministry. Sixty-seven people have been killed on the Israeli side, all but three of them soldiers, according to the army. Israel’s inner security cabinet met to discuss taking further military action as Palestinian militants in Gaza continued to fire rockets at Israel. Housing Minister Uri Ariel called for another Israeli ground offensive to be carried out “soon, strongly and quickly.” Speaking to Channel 2 television, Ariel said the air raids against Gaza since yesterday “have not brought quiet” to Israel.