Aswat Masriya

On Saturday, two passengers on Cairo’s underground metro in their early 20s looked jaded, but they still shouted at the top of their voices, demanding an end to the “rule of the Supreme Guide.” Calling him names, the two men went on a foul-mouthed outburst against Mohamed Badie, the man they believe had overruled Egypt’s elected President Mohamed Morsi and assumed effective control of the country. The passengers, it transpired, were angry because they had been involved in a confrontation with Brotherhood members in front of the Islamist group’s headquarters in the Cairo district of Mokattam, a fortress that has long been spared street violence and attacks. The presidential palace was a protest hotspot for several months, but it has now made way for the Brotherhood’s Cairo headquarters, a building that lies on a hill which overlooks many parts of Cairo, in a reflection of the opposition’s belief that Morsi is largely subordinate to Brotherhood leader Badie, who keeps a low profile despite being the subject of constant speculation about his actual role in Egypt. Badie, who was elected as the Brotherhood Supreme Guide in January 2010, one year before the eruption of the revolution which eventually propelled his once-banned group to
Read More »

An unofficial Committee for the Promotion of Virtue and the Prevention of Vice announced its existence at a press conference in Cairo on Thursday.  Founder Hisham El-Ashri said the committee would seek to implement Islamic Sharia law without resorting to violence. The committee has no intention of copying the aggressive approaches of such committees in other countries, El-Ashri said. “We have absolutely no relationship with the ‘morality’ committees in Saudi Arabia, Afghanistan, Somalia or Nigeria,” he claimed. “We will only offer advice to those who want to listen. “We shall have no business with people who refuse to listen to us,” El-Ashri added. Many violent incidents in Egypt have been attributed to self-proclaimed Islamic morality committees since Egypt’s revolution in 2011. In March 2011, a group of alleged Salafists in Qena, Upper Egypt severed the ear of a Coptic Christian man and set his car ablaze for allegedly renting an apartment to two Muslim women, who they claimed were prostitutes. In July 2012, 20-year-old engineering student Ahmed Said was stabbed to death by bearded men in the Suez Canal city of Suez while walking with his fiancée. Such crimes, El-Ashri said, have nothing to do with his committee. El-Ashri said
Read More »

Egypt’s health ministry said on Tuesday that 14 people were killed, two were injured while four went missing in a Luxor hot air balloon explosion on Tuesday, reported the state news agency. A medical team was sent to the site on Tuesday morning to watch the unfolding developments while the two injured survivors were transferred to a hospital for treatment. An Aswat Masriya reporter had said that 16 people were killed leaving the rest of the 21 passengers on board injured while a spokesman of the balloon company had told Reuters that 19 tourists were killed while only the guide and one tourist survived in the mid-air explosion at about 300 meters high. A security source told the state news agency earlier that 19 tourists from Britain, France, Japan and Hong Kong were killed in the deadly crash. Meanwhile, Prime Minister Hisham Kandil has ordered an investigation by experts in the accident to avoid similar crashes in the future. More details: Luxor Governor Ezzat Saad has ordered hot air balloon companies to suspend trips following a deadly crash that left at least 19 dead on Tuesday, reported the state news agency. A hot air balloon crash on Tuesday morning killed
Read More »

Russia’s largest independent natural gas producer, Novatek, decided to exit the Egyptian market and end its production activities due to the country’s political instability and the deteriorating security conditions, says Anatoliy Chomachka, a diplomatic representative at the Russian embassy in Cairo. “This is just another missed investment opportunity for Egypt; the country has witnessed the withdrawal of major investments since the January 2011 uprising,” the Cairo-based diplomat told Aswat Masriya, a Reuters affiliate. NOVATEK OAO (MCX:NVTK) (LON:NVTK) began exploratory drilling at Al-Arish offshore prospect in Egypt at the end of 2009 and announced it would pump almost $40 million in drilling activities up until 2012. The Russian gas producer evacuated some its staff during the events of the Egyptian revolution and its drilling activity was halted at several times in Al-Arish region.   This content is from :El Ahram 'Get ValueWalk's Daily Edition By Email and Never Miss Our Top Stories'
Read More »

‘The Times’ British newspaper reported on Saturday that Israel is close to finalizing a railway route that poses an alternative to the Suez Canal. The newspaper said that the “instability in Egypt has added to the urgency of a project to connect the Mediterranean with the Red Sea.” It added that the events that led to the deaths of tens in the cities overlooking the Suez Canal has led to the suspension of shipping groups for a few days. Israel’s Prime Minister Benjamin Netanyahu has announced in a cabinet meeting in January that a pipeline is being created to transport goods between Asia and Europe. He said that the line “has attracted wide attention among developing countries such as China, India and others,” he added that the new line will be “a crossroad between continents and is therefore strategically important on the national and international levels.” Meanwhile, an Israeli official told Reuters, “The new line is a protective guarantee for fear that the Suez Canal is burdened by the increasing movement of maritime trade,” rejecting that the plan came in response to the political unrest in Egypt and the rise of Islamist parties.   This content is from :Aswat Masriya
Read More »

Prominent Islamist politicians announced forming a new political alliance, the “Conscience Front” on Saturday in a press conference. The front includes members of the constituent assembly which was dominated by Islamists and other prominent political figures. The founding members of the Conscience Front established that they are a coalition to “protect Egypt from bloodshed and defend the country against a power struggle that threatens its survival.” The members include the former presidential candidate Mohamed Selim al-Awa, Brotherhood leaders Mohamed al-Beltagy and Helmy al-Gazzar, and leaders of the Islamist Wasat Party. “The front will stand in defiance of those who try to use the blood of citizens to gain personal interests,” said a statement signed by all members of the Islamist front, adding, “We shall voice our opposition if the authorities deviate from the objectives of the revolution.” The statement added that the front aims at representing all Egyptians and uniting political factions under the slogan “against bloodshed and violence.” This content is from :Aswat Masriya 'Get ValueWalk's Daily Edition By Email and Never Miss Our Top Stories'
Read More »

The International Monetary Fund on Thursday reaffirmed its continued willingness to support Egypt, adding that it is aware that Egyptians officials are still reviewing their economic programme. According to a statement the Middle East News Agency reported on Thursday, IMF spokesman Gerry Rice has said that he will discuss with Egyptian officials the timing of the IMF delegation’s visit to Egypt when he receives the updated economic programme. The fund is closely following the developments in Egypt and regrets the violence and loss of lives that occurred recently, Rice said. Egypt is negotiating with the IMF to borrow $4.8 billion to support its economy. Negotiations were hindered due to Egypt’s political instability after President Mohamed Mursi issued last November a constitutional decree that gave him sweeping powers. Christine Lagarde, Managing Director of the IMF, has last year during her meeting with representatives of the Gulf Cooperation Council countries that the fund has no prerequisites for resuming discussions with Egypt on the loan.   This content is from : Aswat Masriya 'Get ValueWalk's Daily Edition By Email and Never Miss Our Top Stories'
Read More »

President Mohamed Mursi on Wednesday launched a campaign under the name “Save in Egypt” to encourage all Egyptian expatriates to support national economy by depositing part of their savings in Egypt’s banks. Mursi launched the campaign while in Germany. According to the Middle East News Agency, Mursi stated that the country’s economy is strong in spite of what superficially looks like a decline, pointing to the active role grey economy plays in Egypt’s business activity. During his meeting with the Egyptian-German businessmen forum on Wednesday, Mursi said that one successful tourism season may make the International Monetary Fund’s loan unnecessary and bring Egypt around $14 billion, Egypt’s ambassador to Germany Mohamed Hegazy has said. Egypt made a deal with Germany to maintain a developmental cooperation project between the two countries with €353 million in funds. The project will include development in several sectors such as irrigation, agriculture, industry, education, scientific research, environment, infrastructure, and renewable and non-renewable energy. On a brief visit to Berlin yesterday, Mursi met with Chancellor of Germany Angela Merkel to discuss economic relations between the two countries as well as the latest political developments in Egypt and the region.   This content is from :Aswat Masriya 'Get ValueWalk's
Read More »

President Mohamed Mursi failed on his brief Wednesday visit to Berlin to persuade Chancellor of Germany Angela Merkel to reduce Egypt’s €240 million debt to Germany, the German Der Spiegel magazine reported on Wednesday. On its website, the magazine stated that Mursi “is unlikely to be satisfied with the outcome of his visit to Berlin”, adding that Merkel “failed to respond” as Mursi would have liked. Merkel refrained from any mention of forgiving Egypt’s debt, which Germany had earlier alluded to. Merkel also did not discuss the possibility of her country’s participation in new developmental projects, Der Spiegel wrote. All Merkel did was give advice, the magazine explained. Mursi attempted to express confidence in Berlin since he needs investors and tourists to return to Egypt for the economy’s recovery, it said. It is unclear though whether Mursi is able to control the ongoing violence in the country or not, the magazine stated. According to the magazine, Mursi “outlined a future for Egypt that Germany could only applaud, heralding the dawn of a democratic country based on a separation of church and state, one that champions pluralism and religious freedom.”   This content is from :Aswat Masriya 'Get ValueWalk's Daily Edition By
Read More »

Egypt’s so-called ‘Black Bloc’ group on Wednesday declared its intention to organise rallies and protests in Cairo and Alexandria in defiance of a recent order by Egypt’s prosecutor-general for the arrest of group members. On its ‘Black Bloc Egypt’ Facebook page, the group stated that its members in Alexandria would gather at the city’s Al-Qaed Ibrahim Mosque on Wednesday afternoon. “All of us are going to wear black clothes. We are all Black Bloc,” the group declared. “We defy the prosecutor-general, as there will be thousands of protesters wearing black with us.” The page, which cannot be verified as an official Black Bloc page, also called on group members to gather at Cairo’s Tahrir Square at 3pm and to hold a rally at the prosecutor-general’s office in downtown Cairo outside the Supreme Court. “Today, a curfew will be imposed at the prosecutor-general’s office in Tahrir Square at 3pm. Everyone should wear black clothes. We are all Black Bloc. I want to see Tahrir black today,” the group stated. The group has been accused of using violent methods and engaging in acts of sabotage during recent anti-government demonstrations and clashes between protesters and security personnel. Prosecutor-General Talaat Abdullah on Tuesday ordered
Read More »

Thousands of protesters converging from the Qaed Ibrahim mosque and Victoria Square on the Sidi Gaber district in central Alexandria have blocked off Abu-Qir boulevard with rubbish bins and bonfires. Other groups of protesters are sitting on two of the main tracks of Sidi Gaber train station and obstructing them using iron rods, wooden sticks and a broken desk. The sound of explosions was heard inside the train station and demonstrators were seen running out in panic, says Ahram Online’s Yasmine Fathy, who was unable to identify the source of the noise. “Down, down, with the rule of the supreme guide! Down, down with Morsi! Leave, we are poor people,” were among the chants of demonstrators during their march. Protesters had earlier cut off roads, and obstructed tram lines in Al-Raml district in downtown Alexandria, as well as in the Azaretah district, stating they wanted to remind officials of those who had lost their lives in the revolution. “The message we want to send is that Morsi has ruined the country and it is time for him to go.” “We decided to cut off the trains because people are going through their lives as if nothing happened and
Read More »