7pm News Wrapup Aug. 5
By THE CAIRO POST

News:

The Suez Canal axis project aims to revive the Egyptian economy by exploiting the strategic location of the country, Suez Canal Authority Chairman Mohab Mamish said Tuesday during the opening ceremony of the canal axis project. He noted that a new canal branch will be built to speed up transit time in the waterway.

Israel will send a delegation to Egypt Tuesday to participate in negotiations for a cease-fire with the Hamas, the Israeli Foreign Ministry spokeswoman Amira Oron told Anadolu Tuesday morning.

Israel and Hamas agreed on a 72-hour cease-fire agreement to start Tuesday at 8 a.m. local time, and under no conditions from either party, according to Sky News Arabia.

British baroness and cabinet member Sayeeda Warsi resigned from her position Tuesday morning protesting the British government’s Gaza policy regarding the conflict between Israel and Gaza.

A mobile game that simulates Israeli attacks on the Gaza Strip and invites users to “drop bombs and avoid killing civilians” has been pulled from Google’s app store, a company spokesman said Monday after a public backlash.

France said Tuesday it would move quickly to answer a call from Lebanon for faster arms deliveries as it battles Islamist militants on the Syrian border.

Libya’s new parliament held its first formal session Monday with international approval, away from the clashes rocking the capital Tripoli as divisions between Islamists and nationalists deepened.

The World Health Organization said Monday the death toll from the Ebola epidemic in West Africa has now reached 887 after 61 more fatalities recorded at the end of last week.

Osama Othman, an orphanage manager accused of torturing and beating orphans, was arrested Monday afternoon, according to Youm7.

Ain Sokhna power station will begin to operate its first of two units on Aug. 31, and the second will begin operation three months later, Egyptian Electric Holding Company head Gaber al-Desouki told Youm7 Tuesday.

Several cases of deliberate blocking of railways in July led to delays in train operation, according to a Tuesday Railway Authority report.

Minister of Irrigation Hossam Moghazy discussed ways to avoid last year’s losses due to heavy flooding in the future with local residents in a Monday visit to South Sinai. Moghazy said losses in Taba and Wadi Watir were due to heavy rains and flooding damages reached 400 million EGP ($56 million) this year, reported Al-Shorouq newspaper.

The street vendors who hawk their wares in downtown Cairo’s streets will be relocated into a specific site, Cairo Governor Galal Saeed said during a Tuesday press conference.

Politics:

The Cairo Criminal Court, headed by Judge Mahmoud Kamel al-Rashidi, adjourned Tuesday the trial of former President Hosni Mubarak, his two sons Gamal and Alaa, former Minister of Interior Habib al-Adly and six of his aides to Aug. 7.

Former Secretary General of the Arab League and 50-member committee chairman Amr Moussa decided to withdraw Monday from the Egyptian National Alliance, and announced he will not run in parliamentary elections, according to a statement by his spokesman Ahmed Kamel.

Business:

The Egyptian Exchange (EGX) soared Tuesday, and the benchmark index EGX30 penetrated the 9,000-point barrier for the first time since 2008 amid upbeat investor sentiment about the launch of the Suez Canal development project.

Total Emirati investment in Egypt has reached $5.2 billion distributed over 659 companies, according to statistics held by the Egyptian Investment Authority, the head of the Egyptian Center for Economic Studies Abdel Moneim al-Sayed told CNBC Monday.

A new DHL facility bringing a 400 million EGP investment from the international shipping company opened Monday in the Goods Village at the Cairo International Airport. The ministers of civil aviation and telecommunication inaugurated the facility, according to a Monday press statement from DHL.

The Ministry of Petroleum is financing the second phase of the International Drilling Material Manufacturing Company (IDM) in Ain Sokhna, to be completed by the end of next year, with a total value of up to $32 million, said Minister of Petroleum Sherif Ismail, Mubasher reported Monday.

In-Depth:

Egyptian Minister of Foreign Affairs Sameh Shoukry headed early Monday for Tunisia, where he met with Prime Minister Mahdi Gomaa and a number of senior Tunisian officials for talks on ways to facilitate the return of Egyptians stranded on the Libyan-Tunisian border, in particular at Ras Jdir crossing, Youm7 reported.

Editors’ Pick:

Causing offense to the 2011 January 25 Revolution should be criminalized, according to one of Egypt’s main opposition groups.

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