7pm News Wrapup July 6
By THE CAIRO POST

News:

Israeli forces carried out a series of air raids in the Gaza Strip on Sunday at dawn. No casualties or injuries have been reported.

The pension system is being improved and will increase in the next phase by 20 percent, Minister of Social Solidarity Ghada Waly said.

Investors in the tourism sector have decided to set uniform prices for hotel reservations in all tourist cities throughout Egypt to confront the burn rate policy that lead to a decline in hotel services.

Politics:

Egypt condemned two “terrorist attacks” that took place in Saudi Arabia in Sharoura, Najran province on Friday near the Yemeni border.

Prosecution authorities did not find any new evidence while going through security tapes while investigating the June 30 Ithadeya bombings that took place near the presidential palace and killed two bomb squad officers.

Business:

In cooperation with several bodies, including the Suez Canal Authority, the Ministry of Planning will develop the Suez Canal during fiscal year 2014-15 in the framework of economic and social plans to establish investments worth 790 million EGP.

Egypt repaid a $700 million six-month premium on the foreign debt owed to the Paris Club on July 4.

The oil price hike will save 51 billion EGP ($7.1 billion) for the state treasury, Prime Minister Ibrahim Mahlab said in a press conference.

“The price of poultry will increase by 25 percent within a few days due to the oil price hike,” head of the Poultry Division at the Federation of the Egyptian Chamber of Commerce (FEDCOC ) Abdel Aziz Al-Saeed said.

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