Arabic News Weekly Edition for Egypt, 5/20/2002
Weekly Edition, Egypt - Week of May 20, 2002
- Egyptian-Bahraini summit stressed unified Arab peace vision
Egyptian President Hosni Mubarak yesterday discussed escalating tension in the Middle East during summit talks with Bahraini King Hamad Bin Isa Al-Khalifa. Egypt-Bahrain, Politics, 5/25/2002 - Mubarak receives message from Canadian Prime Minister
Egyptian President Hosni Mubarak receives today a message from Canadian Prime Minister Jean Chretien. The message dwells on inviting President Mubarak to attend the summit of the eight industrialized states due to be held by the end of June in Canada. Egypt-Canada, Politics, 5/25/2002 - Canadian FM: we look forward to Egypt's significant role in the peace process
Canadian Foreign Minister Bill Graham will start his visit to Egypt today, where he'll be received by President Hosni Mubarak to discuss the critical situation in the Middle East, especially after the recent Israeli incursion on the West Bank, the siege of President Yasser Arafat in his compound in Ramallah, and the deteriorating conditions of the Palestinian people. Egypt-Canada, Politics, 5/25/2002 - Egypt's debt burden jumps by 550 million dollars; economic efforts continue Egypt, Economics, 5/25/2002
- Mubarak's visit to Washington will focus on peace process on Palestinian - Israeli track
Egypt's Ambassador to the US Nabil Fahmy said that President Hosni Mubarak's visit to the United States on June 5 will be a non conventional working visit during which an emphasis will be laid on the peace process on the Palestinian - Israeli track. Egypt-USA, Politics, 5/25/2002 - Maher express Egypt's confidence in COMESA economic role
Mubarak expressed his confidence that the COMESA would be able to achieve economic development, thrash out peaceful solutions, bolster the mechanisms conducive to regional economic integration and activate march for a strong free trade area. Egypt-Regional, Economics, 5/25/2002 - Indian industrial delegation chief stresses increasing investments with Egypt
"Egypt has been one of India's important trade partners in the African continent," he said, adding the total volume of trade between the two countries last year hit $ 536.46 million against $ 385.61 million in 2000. Egypt-India, Economics, 5/25/2002 - Mubarak receives messages from Russian, Cypriot, African leaders
Egyptian Foreign Minister Ahmed Maher submits today a report to President Hosni Mubarak on the outcome of his tour to Russia, Cyprus, Lebanon, Greece and Ethiopia. Egypt, Politics, 5/25/2002 - Egypt believes in joint international action to fight terrorism
Abul Gheit referred to Egyptian President Hosni Mubarak's long-standing call for holding an international conference on addressing the roots of terrorism and agreeing on a definition of the phenomenon. Egypt-Regional, Politics, 5/25/2002 - Egyptian power company seeks investment opportunities
A technical and economic delegation from the Arab Fund for Economic and Social Development will arrive in Cairo this week for talks with Electricity and Energy Ministry officials on contributing to funding the building of a power station in El Nubaria whose feasibility study was finished. Egypt, Economics, 5/25/2002 - 35 years of the life of The Organization of African Unity (OAU)
In the first Conference of the Heads of State and Government of the OAU members states, held in Cairo during the period July 17-21, 1964, under the chairmanship of late President Gamal Abd-El Nasser, Addis Ababa, capital of Ethiopia was selected as the domicile of the OAU permanent headquarters. Egypt-Regional, Politics, 5/25/2002 - Alexander the Great spurs fresh gold rush
Veteran explorers and amateur enthusiasts share strong infatuation with the Pyramids, obelisks and royal tombs. However, an increasing number of explorers are obsessed with the myth of the yet unfound tomb of Alexander the Great. Egypt, History, 5/25/2002 - Mubarak to head for Washington on June 8
A source close to the Egyptian Presidency said on Thursday that President Hosni Mubarak of Egypt will on June 8 head for Washington to hold talks with the US President George Bush on the ME region. Egypt-Regional, Politics, 5/24/2002 - Egyptian tourism mission to visit Morocco in mid-Mune
An Egyptian tourism mission, made up of officials from the department of tourism and private operators, will be visiting Morocco in mid-June to foster bilateral cooperation in the travel industry. Egypt-Morocco, Economics, 5/24/2002 - Mubarak, Bahrain's king talks in Sharm El-Sheikh today
Egyptian President Hosni Mubarak will have important talks today with Sheikh Hamad Bin Isa Al-Khalifa,King of Bahrain, following his arrival on a several days' visit. Egypt-Bahrain, Politics, 5/23/2002 - European bank does not increase Egyptian citizens' debt burden; lends directly to business, bears proper risk evaluation responsibility
The European Investment Bank (EIB) is making available on behalf of the European Union up to EURO 25 million (1) in the form of a risk capital (2) facility for financing private Egyptian undertakings engaged in modernisation for enhanced competitiveness. The funds will be channelled as equity capital through the following local financial intermediaries: Export Development Bank of Egypt, EFG-Hermes Private Equity, CIIC, Industrial Development Bank of Egypt, Egycap and Capexcorp. Egypt-European Union, Economics, 5/23/2002 - Cabinet approves final shape of export law
After discussions with senior officials on public shares in joint stock companies, Ebeid decided that a database be established to promote the shares for the sake of boosting the companies' performance. Egypt, Economics, 5/23/2002 - Egypt, India to augment trade cooperation, investments
The delegation includes chief executives of giant Indian companies in the fields of automobile manufacturing, heavy machinery, pumping stations, furniture and Information Technology. The delegation's talks with Egyptian officials focused on building an automobile factory in Egypt and marketing its products in Arab and African markets. Egypt-India, Economics, 5/23/2002 - Maher blames Israel for ME crisis
Scoffing at Israel's terms for a Middle East peace conference, the Egyptian Minister said Israel wanted to choose the name of the gathering, its venue, date and the participants. After all this, it (Israel) comes out to say it favors an interim l0-year settlement thereby allowing tensions, aggression and occupation to drag on. Maher dismissed the Israeli-style peace conference as a farce. Egypt-Israel, Politics, 5/23/2002 - Baz expects an agreement on convening international conference next July
Osama Al-Baz, the Political Advisor to the President said international community supports the convening of an international conference on peace for solving Middle East problem, indicating that if it was convened Syria, Palestine, Israel, Egypt, Jordan, the United States, Russia and European Union should attend the conference. Egypt-Israel, Politics, 5/23/2002 - Toshka agricultural work a success
Agricultural work in the Toshka mega project has proved a success, and produce uncontaminated by pesticides are due for export to European markets, Minister of, Irrigation and Water Resources, Mahmoud Abu Zeid announced yesterday. Egypt, Economics, 5/23/2002 - ISESCO, Egyptian fund sign cooperation agreement
A cooperation agreement was signed in Cairo Wednesday between the Islamic Educational, Scientific and Cultural Organization (ISESCO) and the Egyptian Fund for Technical Cooperation in Africa. Egypt-Regional, Education, 5/23/2002 - Sarcophagus unearthed intact in Beheira
Egyptian archaeologists have unearthed a limestone sarcophagus that has lain undisturbed more than 2,500 years old under houses in the town of Al-Boweiti in Beheira Governorate. Egypt, Local, 5/23/2002 - Six-century-old monument restored in one, plus ten years
In a bid to rescue the treasures of Fatimid Cairo, which are being engulfed by modern buildings or are suffering the corrosive effects of pollution, an Egyptian-Italian team has recently completed the restoration of Mevlevi Takiyya, which includes the madrassa (school annexed to a mosque) of Sunqur Sa'di and the mausoleum of Hassan Sadaqa. Egypt, Local, 5/23/2002 - Mubarak, Qaboos probe current Middle East situation
In the framework of the sustained and intensive Arab contacts for confronting the current situation in the Middle East, President Mubarak and Sultan Qaboos Bin Said of Oman, during their summit talks in Sharm EL sheikh, called on international community to shoulder responsibility for correcting the current situation in the Middle East and forcing Israel to respect international legitimacy. Egypt-Oman, Politics, 5/22/2002 - Egypt lauds Europe's stance on ME crisis
The US does not understand how complicated the Palestinian cause is and the US negotiators made a blunder when they proposed a joint control over Jerusalem, said Egyptian Presidential Advisor, Osama Al-Baz. Egypt-Palestine, Politics, 5/22/2002 - Egypt's debt burden to increase by $1.5 billion; economic modernization cited
The Egyptian government has reached an agreement with the World Bank and the African Bank for Development to get loans from both banks worth $ 1.5 billion. Egypt, Economics, 5/22/2002 - Meeting probes boosting developing countries' negotiating stance with WT
A two-day meeting in Cairo discussed means to augment the negotiating stance of the developing countries in the next World Trade Organization (WTO) round of talks. Egypt, Economics, 5/22/2002 - Key economic legislations: cornerstone of Egypt's reform drive
developing tax administration and expanding the base of the taxation community. Egypt, Economics, 5/21/2002 - Egypt's banks forced to achieve world standards in operation and service
Governor of the Central Bank of Egypt (CBE) Mahmoud Abul Oyoun announced yesterday that the government is studying new measures to encourage banks merger to keep pace with the world changes in this regard. He added that the minimum capital rate will be raised from eight percent to 10 percent as of December 31, 2002. Egypt, Economics, 5/21/2002 - Program to raise industry's share of development to 20 percent
Egyptian Minister of Industry and Technological Development, Ali Al-Saeedi said both the national and European programs for upgrading the Egyptian industry aim at increasing the industry's share in the development process to 20 percent. This besides encouraging industrial and exporting activities, developing the weaving, iron and steel as well as small industries. Egypt, Economics, 5/21/2002 - Shura Council approves exclusive economic zones bill
The bill provides for the establishment of economic zones outside the urban scope of villages and cities. Egypt, Economics, 5/21/2002 - Mubarak: War does not solve problems and peace is the genuine option
Egyptian President Mubarak said wars do not solve problems and that peace is the genuine option before the world. Egypt-Regional, Politics, 5/21/2002 - Morocco extends us$ 360,000 aid to Palestinians Morocco-Egypt, Culture, 5/21/2002
- Egypt, EU sign memo of understanding on upgrading customs, exports
Egypt and European Union Commission in Cairo initialed yesterday a memo of understanding on upgrading the performance of customs and exports. Egypt-European Union, Economics, 5/21/2002 - Balance of payments deficit falls back by 51 percent
In light of the very negative consequences of the US September 11 attacks on the Egyptian economy, latest figures of the first half of the fiscal year 2001/2002 showed a cut down of the country's tourism receipts by 23 percent, while the Egyptian tourism receipts abroad increased by 15 percent and readymade fabric imports increased by nine million dollars over exports. Egypt, Economics, 5/21/2002 - Fresh impetus to Egyptian-British economic cooperation
The British delegation comprised representatives of 16 major companies operating in the fields of electronics, financial consultancy, insurance, marketing, navigational equipment, petrochemicals and other economic and industrial activities. Egypt-UK, Economics, 5/21/2002 - Tourki, Pope Shenouda, Tantawi Address 14th Islamic Conference inauguration
Tourki said it is the duty of all Muslims to correct the distorted image of Islam, referring to Zionist acts against Muslims and their various pretexts to fight them. Egypt, Religion, 5/21/2002 - 2500 year-old sarcophagus unearthed inside tomb in Baharia Oasis
he Egyptian mission working in the Baharia Oasis under Zahi Hawas, Secretary-General of the Supreme Council of Antiquities (SCA), unearthed a sarcophagus inside a tomb that has not been opened for more than 2500 years, said Farouk Hosni, Minister of Culture. Egypt, Local, 5/21/2002 - Granite quarry of Modern Kingdom obelisks unearthed
The site of the granite quarry that belonged to king Thutmose III was unearthed, said Farouk Hosni, Minister of Culture and Chairman of the Supreme Council of Antiquities (SCA). Egypt, History, 5/21/2002 - Egypt's government debt to rise by $ one billion
Chief of the World Bank mission in Cairo Mahmoud Ayoub said yesterday that Egypt within the coming months will get $ one billion from the World Bank and the Africa Bank for Development. "This sum is a portion of the previously agreed upon aid decided by the Sharm El-Sheikh Donors Conference," Ayoub said. Egypt, Economics, 5/21/2002 - Egypt's banks and stock markets to efficiently collect and direct all citizens savings into investment and new companies
Egyptian banks must develop their services using the latest techniques and make use of foreign expertise to upgrade staff performance, Ebeid has said. This will enhance the competitiveness of banks and boost national savings for comprehensive development in Egypt, he explained. Ebeid told the gathering that the government's is eager to support the nation's financial institutions and their essential role in the country's progress. Mastering savings and directing them towards investment is the role of the banking sector, he added. Egypt, Economics, 5/20/2002 - Regular monthly meetings; Egypt and Libya get serious about economic development and trade
Egyptian Prime Minister Atef Ebeid said an agreement was reached during the eighth session of the joint higher Egyptian - Libyan committee on holding regular monthly meetings between the Egyptian and Libyan Ministers on ways of implementing the agreements reached during the meetings of the higher committee. Egypt-Libya, Economics, 5/20/2002 - Mubarak reviews the agreement between Egypt and Libya for increasing trade, and investment
President Mubarak called for focussing future plans by Egypt and Libya on the agreements concluded as this will help deepen confidence. Egypt-Libya, Economics, 5/20/2002 - Debate and expert testimony before parliament end with new money laundering bill
Here are some of the views expressed by the People's Assembly members during the debate: Egypt, Economics, 5/20/2002 - Finance minister testifies before parliament on new budget
Hassanein asserted that the main feature of this budget is the government's keenness on taming the volume of debts in a way that could ease burdens of debt service. "To maintain this target every party seeking implementing certain projects, has to define the source of finance and methods of repaying this finance," he added. Egypt, Politics, 5/20/2002 - Suez power station raises its own funds to increase capacity
It was decided to increase the capacity of Suez power generation station from 185 to 459 thousand kilowatt with investments of dlrs 120 million provided through loans, grants and self-funding by Misr Electricity Company. Egypt, Economics, 5/20/2002 - Mubarak, Libyan official discuss multi-faceted bilateral relations
Egypt's President Hosni Mubarak on Sunday in Cairo discussed Egyptian- Libyan relations and means of developing and strengthening them in various fields especially in the economic and trade areas with the secretary general of the general people's committee in Libya Mubarak al-Shamekh . Egypt-Libya, Politics, 5/20/2002 - US appreciates Egypt's role in settling disagreements with Libya
Egyptian President Hosni Mubarak yesterday received Edward Walker, the head of the US Middle East Institute, who said following the meeting that he discussed with the President the situation in the Middle East in general and in the Palestinian territories in particular as well as the need for maintaining calm in the region and resumption of negotiations. Egypt-USA, Politics, 5/20/2002 - US appreciates Mubarak's unstinting support for ME peacemaking
Egyptian President Hosni Mubarak yesterday received Edward Walker, head of the US-based Middle East Institute and discussed the situation in the troubled area. Egypt-USA, Politics, 5/20/2002 - Euro-Mediterranean meetings kick start today in Athens
The Euro-Mediterranean meetings, attended by foreign ministers of eleven states, kickstart today under chairmanship of Greece. The meeting will discuss the situation in the Middle East. Regional-Egypt, Politics, 5/20/2002 - Israeli incursions violate international law
In an interview with The Sunday Times, Egypt's First Lady reiterated that the "unspeakable suffering" of the Palestinians over the past few weeks was a flagrant breach of international law and human rights. Egypt-Palestine, Culture, 5/20/2002 - Mubarak gets a message from ruler of Kuwait Egypt-Kuwait, Politics, 5/20/2002
- Mrs. Mubarak attends children of special needs charity in London
Egypt's First Lady Suzanne Mubarak attended on Saturday night a charity tribute held by the Egyptian Embassy in London whose proceeds will go to the Egyptian-British association for children of special needs. Egypt-UK, Culture, 5/20/2002 - President to inaugurates open air museum
Egyptian President Hosni Mubarak will soon inaugurate the open-air museum on the island of kalabshah south of the Aswan High Dam, Minister of Culture Farouq Hosni said yesterday. Egypt, Local, 5/20/2002 - Egyptian members of parliament call for measures concerning the Israeli Academic Center Egypt-Israel, Politics, 5/20/2002
- Czech minister cancels visit to Egypt Egypt-Czech Republic, Politics, 5/20/2002
- Sharm El-Sheikh receives UNESCO peace trophy Egypt, Local, 5/20/2002
- Expansion works in bibliotheca Alexandrina start
Expansion works in the Alexandrina Bibliotecha's Manuscripts Restoration Laboratory started, said Director Ismail Serag Eddin Sunday. Egypt, Local, 5/20/2002