7pm News Wrapup Aug. 13
By THE CAIRO POST

News & Politics

Abdel Fatah al-Sisi reached deals Tuesday with his Russian counterpart Vladimir Putin to create a free trade zone with Eurasian countries and a Russian industrial zone in Egypt.

A new round of Palestinian-Israeli negotiations to reach a permanent cease-fire agreement started in Cairo on Wednesday, after an Israeli delegation which had left to Tel Aviv Tuesday night returned.

Ahead of Rabaa dispersal memorial, National Alliance Supporting Legitimacy (NASL) to hold mass anti-government protests but a number of likeminded groups have actually broken rank with NASL and called for calm.

Students launched their protests today, which resulted in clashes and injuries in Cairo University Wednesday.

The Egyptian army dispatched 936 tons of foodstuff and medical supplies to Gaza through the Rafah Border Crossing so far.

Business

Mid-session The Egyptian Exchange (EGX) rose slightly Wednesday, while the benchmark index EGX 30 managed to hit a new six-year high.

End-session: The Egyptian Exchange (EGX) ended on a collective rise amid sideways performance. Market capitalization gained around 600 million EGP ($83.8 million), registering 513.1 billion EGP and up from 512.5 billion EGP last session.

The government is seeking to provide the needed-sums to repay the foreign petroleum partners’ due debts, totaling at $6 billion, before the end of 2014, possibly through auctioning dollarized bonds to repay the debts.

Etisalat telecommunications is set to pump between 10 to 12 billion EGP ($1.4 billion) in new investments into the communication sector in the next five years

In-depth

Nile pollution remains a major challenge for Egyptian government: 120 factories dispose waste in the Nile, 5 billion cubic meters of waste is disposed in the Nile annually.

Editor’s Pick:

Aug.27, court issues final verdicts in “Trial of the century”:

  • Hosni Mubarak gives speech on ‘days of glory’ instead of defense plea.
  • Former Interior Minister Habib al-Adly described the January 25 Revolution as a “conspiracy”.
  • Activist to The Cairo Post: The court sympathizes with Mubarak and there is a strong possibility he will be acquitted.
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