Wrap-up of Egypt’s top news July 2: Egypt to apply value added tax on social media adds
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Families to receive death certificates of EgyptAir flight victims Saturday

A source at the Interior Ministry told Youm7 that civil registry offices will issue Saturday death certificates for the victims of the EgyptAir flight MS804, which crashed into the sea last month, and will submit them to their families.

Security forces seize arm shipments bound for Sinai

Homeland Security Forces seized dozens of heavy weapons allegedly bound for the Sinia Peninsula, security sources told Youm7.

The arms were found hidden in two pickup vehicles on the borders between Ismailiya and North Sinai governorates, said the source, adding the arms shipment, including 30 sniper rifles, was on its way to militant groups in Sinai.

Hot, humid weather prevails on Sunday, Cairo sees 35 C

Hot and humid weather is predicted to prevail on Cairo, northern parts of Upper Egypt and the Mediterranean coast on Sunday, The Egyptiian Meteorological Authority said Saturday.

Humidity will dominate across the country with very hot weather expected on the southern parts of Upper Egypt.

Cairo will see 35 centigrade degrees, Alexandria 32 C and Aswan 41C.

Cairo Airport thwarts attempt to seize plane engines

Five trucks were stopped at the Cairo Airport after seizing three plane engines illegally sold as part of junk that was loaded on the trucks. A police report was filed regarding the incident, and the owners of the trucks were referred to investigations over the illegal purchase.

Minya sectarian violence to be investigated Saturday

Minya prosecution will begin Saturday investigations into violence incidents that took place in Koum el-Lofy Village, in Upper Egypt, after a number of residents set fire to a house owned by a Christian man over allegations he will transform the house into a church.  Hundreds of residents reportedly gathered outside the house, and some of them burnt it; the fire swept to three nearby houses that belong to the owner of the brothers of Christian man, according to Youm7.

Police have arrested 26 people claimed to be involved in the incidents.

Education Ministry says alleged leaked Dynamics questions “not true”

An official source at the Education Ministry denied that the alleged leaked high school question papers are for the Dynamics exam, which the students are taking on Saturday.

A number of Facebook pages, which are dedicated to leaking exams, have claimed they posted the Dynamics exam question paper. High school students are taking Saturday their Dynamics exam after it was postponed last week per a ministerial decision to curb a wave of exam leaks on social media that has been in full swing since the beginning of the Thanaweya Amma (high school diploma) tests. The ministry said that the postponed exams papers will be printed in secret printing houses.

Politics

Shoukry congratulates Iraqi counterpart on regaining Fallujah

Foreign Minister Sameh Shoukry met with his Iraqi counterpart Ibrahim Al-Jaafari on Saturday and reviewed latest developments in regional and international issues of mutual interest, Youm7 reported.

During the meeting, Shoukry congratulated Jaafari on the Iraqi security forces efforts to regain al Fallujah from the grip of Islamic States militants, according to a statement released by the Egyptian foreign ministry.

State council reviewed draft law to cancel daylight saving time, sent it to parl’t

The legislation department at the State Council finished reviewing a draft law to cancel Egypt’s daylight saving time, Youm7 reported

The draft law was sent to the House of Representatives for final vote whether to cancel or keep daylight saving time. In April, the government announced that daylight saving time would be applied July 5 until the end of October before a parliament committee agreed to cancel the decision and put it to a vote.

Trial of Morsi, 24 co defendants on insulting judiciary adjourned to Sep. 22

The Cairo Criminal Court postponed the trial of ousted President Mohamed Morsi and 24 others, including lawyers, activists and Muslim Brotherhood members, over charges of “insulting the judiciary” until September 22, Al Ahram reported.

Morsi is accused of insulting Judge Ali Mohamed Ahmed el Nemr during a presidential speech on 26 June 2013.

Black box of crahed EgyptAir flight MS804 in condition to attempt extracting recordings – Reuters

The Egyptian Investigative Committee, tasked to probe into the crash of EgyptAir flight MS804 into the Mediterranean said Saturday that the Cockpit Voice Recorder (CVR) of the plane is in a condition to attempt extracting recordings, Reuters reported.

Parliament probes into Upper Egypt’s Minya sectarian violence 

The Human Rights Committee of the Egyptian Parliament formed a fact-finding committee to investigate into violence incidents that took place in Koum el-Lofy Village, in Upper Egypt, after a number of residents set fire to a house owned by a Christian man over allegations he will transform the house into a church, Youm7 reported lawmaker Tadros Kaldas.

Parliamentarian calls for blocking internet during Thanaweya Amma exmas

Deputy of the Education Committee  in the Parliament Hani Abaza has called for blocking the Internet in Egypt during the exam of Thanaweya Amma ( high school diploma) as a way to stop the exam leakage and cheating, Youm7 reported Friday evening.

Business

EGX30 declines by 7.74% in past three months

The Egyptian Exchange (EGX) benchmark index EGX-30 has plummeted 7.74 percent during the past three months to reach 6,943 points, Youm7 reported.

The small- and medium-sized enterprises (SME) index EGX-70 declined by 4.42 percent during the past three month to close at 351 points, while broader index EGX-100 declining by 6.13 percent to reach 744 points.

Suez Canal Insurance wins bid for East Port Said tunnel drilling equipment

The Suez Canal Insurance Company has won a bid to insure drilling equipment designated to build a new tunnel under the East Port Said, Amwal al Ghad reported.

The insurance policy is with total sum insured worth 17 million EGP (around$2 million.)

 Mortgage investments increase by 12 percent in five months: official

Investments of the mortgage sector have increased by 12 percent during the period 01Jan.-01 June, 2016 to reach 442 million EGP ($49.6 million,) up from 396 million EGP during the same period last year, Sherif Sami, head of the Egyptian Supervisory Authority told Al Ahram on Saturday.

The current funds of the mortgage companies totaled 2.8 billion EGP by the end May2016, Sami added.

Egypt to apply value added tax on social media adds

Egypt’s Value Added Tax (VAT) bill, which is will be discussed by the Parliament after celebration of Eid al-Fitr, includes articles stipulates that the VAT will applied on all online services provided domestically and from abroad, including the social media adds, an anonymous official at the Ministry of Finance told Youm7 Saturday.

Egypt’s government borrows 9.7 billion EGP in T.bills

Egypt’s Ministry of Finance, via the Central Bank of Egypt, will auction Treasury Bills (T.bills) estimated at 9.7 billion EGP (around $1.1 billion) Sunday. The T-bills are to be offered in two installments; the first valued at 4.7 billion EGP with 91-day term, while the second worth 5 billion EGP with a 266-day term, Youm7 reported Saturday.

The Finance Ministry plans to put forward treasury bills and bonds worth 97.750 billion EGP in July, state news agency MENA reported on Friday.

Holding Co. For Maritime & Land Transport losses reach156.6 million EGP in 2015

Holding Co. For Maritime & Land Transport Chairperson Mohamed Youssef announced that the company’s net losses reached 156.6 million EGP (about $17.6 million) in 2015, Youm7 reported Saturday. He noted that the company has framed a general budget for the affiliated companies that suffer losses via pumping new investments.

Social

Environment Min. announces plans to develop Maadi’s Petrified Forest Reserve

Minister of Environment Khaled Fahmy announced Friday plans to develop the Petrified Forest Reserve in Maadi, south of Cairo during an Iftar party at the reserve.  The party was attended by a number of youths and residents of areas near the reserve. The Ministry has posted an invitation for the Iftar party on its Facebook page, and provided buses to bring attendants to the site for free.

Omar Khairat concert at Cairo University after Eid el-Fitr

Musician Omar Khairat will give a concert at Cairo University after Eid el-Fitr (Breaking the fast feast,) President of Cairo University Gaber Nassar told Youm7.

Nassar said that the university will host three concerts in July, August and September until the end of the summer vacation.

Restoration of Al-Qasr fortified Islamic town finalized after 2yrs

Ministry of Antiquities has announced that it has finalized a two-year restoration works of the fortified Islamic town of Al-Qasr at Dakhla Oasis, which was built in the 12th century. Saeed Helmy, the head of the Islamic and Coptic department at the ministry, told Youm7 that restoration works has been funded by a Japanese grant estimated at three million EGP.

Sports

Egypt Vs Mali Saturday in 2016 FIBA U17 World Championship

Egyptian Basketball national team will compete against Mali counterpart Saturday in the 2016 FIBA U17 World Championship that is taking place in Spain, according to the official website of the International Basketball Federation (FIBA).

 

Hector Cuper rejects friendly match with Tunisia

Argentine Hector Cuper, Egyptian football national team coach, has refused a proposal submitted by Tunisian national team to hold a friendly match on August 29, Youm7 reported Saturday without stating the reasons behind the refusal. However, the Egyptian national team has asked for warm-up matches with different national teams ahead of the 2018 FIFA World Cup that will be held in Russia.

N.Korea beats Egypt in Volleyball World League 2016

South Korean Volleyball team has beaten the Egyptian counterpart Friday in the third week of the FIVB Volleyball World League 2016 in China, according to the Egyptian Football Federation Facebook page Saturday.

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