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Member Info for Siko

Member Since: Sun, 11th Dec 2011

Number of Share Chat Posts (all time): 1,123
Number of Share Chat Posts (last 30 days): 23

Last Posted: Sun 15:21

Post Distribution over the last 30 days

Sun 15:21

To be honest I don't like to be involved in political debates because there are always two sides to it and it depends who you ask. My brothers are on different sides and you would get a completely different view from each one.

The Arab summit in sharm elshikh finished and the Arab leaders decided to form a united arab army.

Egyptian ground troops are already in Yemen now In control of the strategic areas.

The Egyptian stock exchange was up today after a bad week last week.

Thu 22:28

I personally believe that the drop today was all to do with Egypt's involvement in the war in Yemen. Today the presidency released a statement about Egypt's intentions:

Early morning the Middle East stock markets collapsed. Egypt & Dubai stock markets were down 6% before they recovered much of the loss. Today I have been in touch with many people in Egypt and been following the media.. People are divided.. some with and some against.. People who support the involvement say that it is necessary because Bab-el-Mandeb strait is very crucial for Egypt's national security.. even some Israeli reports claim that Egypt is already in control of the strait..

People who are against say that things could get much worse if Iran decided to get involved and this is not our war.. but the bottom line is that the gulf countries, especially Saudi Arabia, supported Egypt massively during the last year, and now it is Egypt's time to pay back. In other words Egypt does not have much choice..

As flopticalube mentioned earlier, this is very far from Egypt and Alsukary, so there is no direct effect on the mine, but I thought to give you an idea about what is happening because I think it could be affecting the SP.
Thu 09:11

Alfakharany and others (including ex-president Mursi) are due to appear in front of the criminal court on 23rd May charged with Insulting the judiciary, the judges and the public prosecutors.

(Sorry I have not posted for a wile but there has been nothing at all in the media)
16 Mar '15

Alfakharany appeared on TV to talk about the parliament and investment in Egypt. He said the following:

-(5:40) I fully support the investment conference and there will be no appeals against any of the contracts in the future.

-(11:20) The parliament will approve and accept all the laws issued by Adly Mansour and Sisi. This is due a clause in the constitution which forces the parliament to discuss/approve/amend/cancel within the first 15 days all the laws issued in absence of the parliament. So far there are more than 242 laws issued. The parliament will spend the first 10 days to select the president and form the parliamentary committees, so will only have about a couple of days to ratify more than 242 laws, so there will be no time even to read the laws. He expects all the laws to be submitted at once and get approved and then could be discussed in details one by one later if needed, so he is asking Sisi to call for amending that clause in the constitution as it is not practical.

- (25:30) Law 32 applies to Alsukary cc as it states that the courts rule to refuse all cases currently being considered, so we have to wait for the SCC decision on law 32.
14 Mar '15

The conference seems to be going much better than what I expected to be honest. There is no official total yet, but the millions and billions just keep coming!!

The largest deal so far is between Egypt and UAE worth $45 billions to build a new city.. also Saudi, Kuwait and UAE donated $12 billions.. and many contracts worth millions and billions have been signed..


In today's program:

Session 1: Oil, Gas & Mining – Knowledge Partner & Strategy:

Sherif Ismail, Minister of Petroleum, Egypt

Josef El-Raghy, Chairman, Centamin, Egypt

Nader Zaki, BP Country Manager, Egypt

Arshad Sufi, President, BG, Egypt


In his speech today, PM Mahlab told investors that the law which limits the appeals against sate contracts was one of the important amendments to the legislation.

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