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Calls to fix energy pricesfor factories

The Exports Council for Construction Materials (ECCM) will hold an urgent meeting this Sunday to request Prime Minister Hesham Qandil fix energy prices for factories. The ECCM plans to ask for a detailed five year plan to fix energy prices for industries. Waleed Gamal Eldeen, Presidentof the ECCM, said the energy prices instability is causing …

Daily News Egypt

Bailout request by Spain would not affect debt rating: S&P

Madrid (AFP) – Ratings agency Standard and Poor’s said Wednesday that if Spain requested a full bailout from European Union rescue funds and the IMF, this would not affect the country’s debt rating. “The sovereign ratings on the Kingdom of Spain would likely not be directly affected should Spain’s government request a bailout through official …

Daily News Egypt

Ministry of Electricity ready with third contingency plan

By Salah Elmenoufy The Ministry of Electricity (MOE) determined the new sites where it will implement its third contingency plan to meet the summer’s demand. Sources said that the plan includes establishing new power generation units in a number of already installed stations. These units will be established in Elseyuf station in Alexandria, Elmahmodeya, Damanhour …

Daily News Egypt

Heat wave hits Algeria

Last week Algerians attacked governmental institutions and private corporations who are seen as responsible for power outages plaguing the nation. On Friday, many businesses closed because of the heat, reported El Khabar, an Algerian daily. In a state with over 35 million Muslims and temperatures reported to have reached as high as 50 degrees this …

Daily News Egypt

Different angles to analyse Rafah’s turmoil

At midnight on Sunday, 16 Egyptian border guards were pronounced dead. One might imagine that they were just sitting together during iftar, enjoying some of Sinai’s tasty dates and milk when unrevealed gunmen abruptly shot them dead. Some of those killed might have even been taking their last bite of bread at that very moment. …

Daily News Egypt

Spanish unemployment nears 25%

Madrid (AFP) – Spanish unemployment is now near one quarter of the workforce, fuelling fears the country might need a costly bailout as the IMF issued its latest report on the eurozone’s fourth biggest economy. The unemployment rate rose in the second quarter to 24.63 percent of the workforce and to a huge 53 percent …

Daily News Egypt

Germany, France vow to do ‘protect eurozone’

Berlin (AFP) — The leaders of Germany and France threw their political support Friday behind ECB chief Mario Draghi’s vow to do “everything” to protect the eurozone, after another brutal week of market turmoil. German Chancellor Angela Merkel and French President Francois Hollande said in a joint statement released in Berlin and Paris after a …

Daily News Egypt

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