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Sunday, December 29, 2024 Search Search By MEO I n a week marked by volatile trading, Egypt’s stock market (EGX) closed in negative territory on Thursday, December 26. The benchmark EGX30 index dipped by 0.16%, finishing at 29,957.97 points. Similarly, the Shariah-compliant EGX33 index saw a decrease of 0.12%, landing at 3,077.31 points. The small and medium enterprises index, EGX70, dropped by 0.11% to 8,201.12 points, while the broader EGX100 index slightly declined by 0.06% to settle at 11,269.09 points. The total market capitalization reached approximately 2.19 trillion Egyptian pounds. T he trading week revealed a pattern of net selling by both Arab and non-Arab foreign investors, who offloaded stocks worth 278.7 million and 994.7 million Egyptian pounds, respectively. Conversely, Egyptian investors remained optimistic, acting as net buyers with acquisitions totaling 1.27 billion Egyptian pounds, according to data from the Egyptian Exchange. F inancial analyst Dr. Ahmed El-Sayed commented to Middle East Observer on the current market trends, saying, “The sell-off by foreign investors could be attributed to global market uncertainties and regional geopolitical factors. However, domestic investors’ resilience and confidence in the local economy have cushioned the market to some extent.” Top Gainers: Real Estate and Investment Sectors Shine Mena Touristic & Real Estate Investment ( MENA.CA ) led the risers, with its shares appreciating by 7.59% to close at 4.250 Egyptian pounds. Grand Investment Capital ( GRCA.CA ) followed closely, witnessing a 7.01% increase to 10.690 Egyptian pounds a share. Alexandria Flour Mills ( AFMC.CA ) also performed well, with a 5.91% rise, closing at 26.710 Egyptian pounds per share. Lagging Stocks: Pharmaceuticals and Land Reclamation Hit On the downside, Minapharm Pharmaceuticals ( MIPH.CA ) saw a drop of 5.04%, closing at 171.430 Egyptian pounds per share. El Arabia for Land Reclamation ( EALR.CA ) shares declined by 4.85%, ending at 50.780 Egyptian pounds. El Ahram Co. for Printing and Packing ( EPPK.CA ) also experienced a downturn, with its shares falling by 4.54% to 9.470 Egyptian pounds. Exclusive insights from financial markets strategist Leila Mahmoud suggest that Egypt’s economic reforms and potential policy shifts might play pivotal roles in shaping investor sentiment in the coming months. “While current fluctuations are partly driven by external pressures, Egypt’s ongoing efforts to stabilize its financial and economic sectors could help in attracting more sustainable investment flows,” she noted. Previous article Nasr Casting Company Reopens projecting a 47,000-Ton OutputUnbelievable: How China’s Outsmarting US Chip Ban to Dominate AI
Apply for change in regn plates for old vehicles from mid-JanNavigating Technological Sovereignty in the Digital AgeBIRMINGHAM, Ala. (AP) — Riley Allenspach and Trey Fort scored 15 apiece in Samford's 72-47 victory over Austin Peay on Sunday. Allenspach shot 6 of 12 from the field and 3 for 4 from the line for the Bulldogs (9-2). Fort went 5 of 9 from the field (5 for 8 from 3-point range). The Governors (4-5) were led by Darius Dawson with 18 points. Akili Evans added 10 points and three steals. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .
If you want to grab your favorite holiday drink while doing some last-minute gift shopping, you might want to call ahead. Starbucks union is currently on a five-day strike, extending through Christmas Eve. The strike, started by Starbucks Workers United, began on Friday, with walkouts happening in Seattle, Chicago and Los Angeles. Since then, the strikes spread to nine states, with locations in Ohio, Missouri, New Jersey, Oregon, New York and Colorado also joining by shutting down stores. The union told CNN the strike could spread to hundreds of stores by Christmas Eve. What the union seeks The union went on strike after “Starbucks failed to bring a viable economic policy to the bargaining table or resolve hundreds of unfair labor charges" per the union. The union represents 525 stores and 10,000 employees nationwide. Subscribe to Kiplinger’s Personal Finance Be a smarter, better informed investor. Sign up for Kiplinger’s Free E-Newsletters Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail. Profit and prosper with the best of expert advice - straight to your e-mail. On X , the union stated, “Since February, Starbucks has repeatedly pledged publicly that they intended to reach contracts by the end of the year — but they’ve yet to present workers with a serious economic proposal.” The goal of the union is to continue these escalating strikes, resulting in more closed stores and lost revenue, at one of the busiest times of the year for Starbucks. The baseline, according to the union , is for baristas to earn $20 per hour, while shift supervisors make $25.40. On top of this, they want a 5% annual raise and cost of living adjustments. They also want all workers to be enrolled in the employer-sponsored 401(k) plan. Another issue addressed is consistent scheduling. The union said often baristas work inconsistent hours that might fluctuate week-to-week, making it difficult to budget monthly income. The union demands that Starbucks provide a fairer process for consistent scheduling. How Starbucks handles it Starbucks responded to the strikes, claiming that union delegates backed out of bargaining talks. A spokesman told NBC News , “Workers United proposals call for an immediate increase in the minimum wage of hourly partners by 64%, and by 77% over the life of a three-year contract, and that isn’t sustainable. Announcing its fourth-quarter results in October, Starbucks fell short of their revenue mark. The coffee giant reported net revenue fell by 3.1% to $9.1 billion , which was short of the $9.4 billion mark anticipated by CNBC. The two sides plan to meet for the final time on Christmas Eve. So far, over 50 stores have shut their doors during the strike, in busy locations like Boston, Brooklyn, Denver, Pittsburgh, Philadelphia, Columbus and Portland. Will the Starbucks strike impact you? Chances are, the impact on you is minimal at this time since Starbucks has tens of thousands of stores nationwide. Still, if you plan to grab a drink or any gifts, it might be wise to call ahead just in case your stores are one of the ones impacted. Currently, here are some cities with closures: Columbus Portland, Oregon Los Angeles Chicago Seattle Denver Pittsburgh Philadelphia St. Louis Dallas Long Island You can also use this map of store closures , courtesy of Newsweek. Related Content What's Behind Starbucks Stock's New Sell Rating? Ways to Save Money at Starbucks What Starbucks' Latest Dividend Hike Means for Investors
Pension New Rules: Government issues new guidelines for senior citizens employees regarding pensionREFORM, Ala. (AP) — A federal judge ruled that the family of former NFL player Glenn Foster Jr., who died in law enforcement custody in Alabama, can pursue a lawsuit alleging his death was the result of excessive force. Foster, a former New Orleans Saints defensive end, died on Dec. 6, 2021, three days after being arrested and taken to jail in rural Pickens County for alleged speeding and attempting to elude police. A judge ordered Foster taken to a medical facility in Tuscaloosa for a mental evaluation. Foster was found unresponsive in the back of a law enforcement vehicle when he arrived at the facility. He was pronounced dead about 30 minutes later. His widow, Pamela Foster, filed a lawsuit against officers at the Pickens County Sheriff’s Office and jail saying Foster had been beaten, shocked with a Taser and strangled while at the jail. The defendants then asked a federal judge to dismiss the case. U.S. District Judge Annemarie Carney Axon ruled Thursday refused to dismiss allegations of excessive force and failure to intervene. Axon dismissed other portions of the lawsuit. The ruling came a day before the third anniversary of Foster’s death. Foster appeared in 17 games for the Saints in 2013 and 2014.
Romanian politicians have voted in favour of a new pro-European coalition government led by incumbent Prime Minister Marcel Ciolacu. The move could usher in an end to a protracted political crisis in the European Union country following the annulment of a presidential election by a top court. Parliament approved the new administration in a 240-143 vote in Romania’s 466-seat legislature. The new coalition is made up of the leftist Social Democratic Party (PSD) the centre-right National Liberal Party (PNL), the small ethnic Hungarian UDMR party and national minorities. It caps a month-long period of turmoil in which far-right nationalists made significant gains in a parliamentary election on December 1 a week after a first-round presidential race saw the far-right outsider Calin Georgescu emerge as the front-runner. “It will not be an easy mandate for the future government,” Mr Ciolacu, whose PSD party topped the polls in the parliamentary election, said in a statement. “We are aware that we are in the midst of a deep political crisis,” he said. “It is also a crisis of trust, and this coalition aims to regain the trust of citizens, the trust of the people.” Romania’s 16 ministerial positions will be shared among the parties, which will hold a slim majority in the legislature. It is widely seen as a tactical partnership to shut out far-right nationalists whose voices found fertile ground amid high living costs and a sluggish economy. Mr Ciolacu, who came third in the first-round presidential ballot despite polls indicating he would win the most votes, has served as prime minister since June 2023. After parliament’s approval, President Klaus Iohannis swore in the new government and warned the new Cabinet that it is entering a “difficult new period” in which “for many Romanians, there are major concerns”. Romania was plunged into turmoil after Mr Georgescu’s surprise success in the presidential race, after allegations of electoral violations and Russian interference emerged. Days before the December 8 run-off, the Constitutional Court made the unprecedented move to annul the presidential race. “We go through complicated times, but I think we all learned from mistakes of the past,” Mr Ciolacu said. “I hope that together with my colleagues in the coalition, we’ll find the best solutions to get past the challenges we have in front of us.” Mr Ciolacu said that the new government would aim to quickly organise the rerun of the presidential election in which the new coalition has agreed to put forward an agreed common pro-European candidate. Cristian Andrei, a political consultant based in Bucharest, said that the new government made up of the same political parties will likely embrace “soft populist” rhetoric such as economic patriotism, anti-austerity, and a peace solution in neighbouring Ukraine to counter the rise of far-right populism. “This will be a way to answer the concerns of many Romanians who voted for populists... but will not solve the fundamental problem of trust,” he said. “The only decisive factor now will be who and how convincing the pro-European candidates will be against this popular revolt.” George Simion, the leader of the far-right Alliance for the Unity of Romanians, which came second in the parliamentary election, said that all politicians from his party on Monday would vote against the Ciolacu government. In 2021, the PSD and the PNL also formed an unlikely but increasingly strained coalition together with UDMR, which exited the Cabinet last year after a power-sharing dispute.
SEOUL, Dec. 19 (Korea Bizwire) – South Korean industry and academia have proposed creating a "KSMC" (Korea Semiconductor Manufacturing Company), modeled after Taiwan's TSMC, to address challenges facing the nation's semiconductor industry. The plan, revealed at a seminar held by the National Academy of Engineering of Korea (NAEK) on December 18, aims to build a balanced ecosystem between foundries and fabless companies through diversified manufacturing processes, including both cutting-edge and legacy technologies. Experts estimate that a KRW 20 trillion ($13.9 billion) investment in KSMC could generate KRW 300 trillion ($208.7 billion) in economic benefits by 2045. The initiative would support smaller system semiconductor companies, many of which are currently constrained by relying solely on Samsung's advanced nodes under 10 nanometers. "Taiwan maintains a balanced ecosystem where... Korea Bizwire
FORT WORTH, Texas (AP) — Hailey Van Lith scored 17 points and Madison Connor made four 3-pointers and added 14 points on Sunday to help No. 11 TCU beat Brown 79-47. Van Lith added five assists, five rebounds and three steals and Taylor Bigby scored 11 points for the Horned Frogs. TCU (13-1) has won four games in a row since an 82-54 loss to No. 3 South Carolina on Dec. 8 at the Coast to Coast Challenge. Grace Arnolie hit three 3-pointers in the first five minutes and Olivia Young added another with 4:34 left in the first quarter to give Brown a 12-8 lead. The Horned Frogs responded with a 9-2 run to close the period, scored 12 of the first 14 second-quarter points to extend their lead to 13 points and took a 34-25 lead into the intermission. Bigby hit a 3 to open the scoring in the third quarter and TCU led by double figures the rest of the way. The Horned Frogs outrebounded Brown 54-28, including 20-6 on the offensive glass which led to TCU outscoring the Bears 27-5 in second-chance points. Isabell Mauricio led Brown with 17 points on 7-of-16 shooting Brown (6-7). The rest of the Bears players combined to made 10 of 41 (24.4%) from the field. Arnolie added 13 points. TCU made 11 3-pointers on 27 attempts (41%) and the Horned Frogs' 148 this season are the most in Division I. ___ Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here . AP women’s college basketball: https://apnews.com/hub/ap-top-25-womens-college-basketball-poll and https://apnews.com/hub/womens-college-basketball
LONDON (AP) — A civil jury in Ireland finds that mixed martial arts fighter Conor McGregor assaulted a woman in a hotel. (CORRECTS: A previous APNewsAlert misstated the claim the jury found him liable for.).
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By MICHAEL R. SISAK and CEDAR ATTANASIO, The Associated Press NEW YORK — Police appear to not know who he is, where he is, or why he did it. As the frustrating search for UnitedHealthcare CEO Brian Thompson’s killer got underway for a fifth day Sunday, investigators reckoned with a tantalizing contradiction: They have troves of evidence, but the shooter remains an enigma. One conclusion they are confident of, however: It was a targeted attack, not a random one. They know he ambushed Thompson at 6:44 a.m. Wednesday as the executive arrived at the Hilton for his company’s annual investor conference, using a 9 mm pistol that resembled the guns farmers use to put down animals without causing a loud noise. They know ammunition found near Thompson’s body bore the words “delay,” “deny” and “depose,” mimicking a phrase used by insurance industry critics. The fact that the shooter knew UnitedHealthcare group was holding a conference at the hotel and what route Thompson might take to get there suggested that he could possibly be a disgruntled employee or client, NYPD Chief of Detectives Joseph Kenny said. Police divers were seen searching a pond in Central Park, where the killer fled after the shooting. Officers have been scouring the park for days for any possible clues and found his backpack there Friday. They didn’t immediately reveal what, if anything, it contained but said it would be tested and analyzed. On Sunday morning, police declined to comment on the contents of the backpack, or on the results of the search in the pond, saying no updates were planned. Investigators have urged patience, saying the process of logging evidence that stands up in court isn’t as quick as it looks like on TV. Hundreds of detectives are combing through video recordings and social media, vetting tips from the public and interviewing people who might have information, including Thompson’s family and coworkers and the shooter’s randomly assigned roommates at the Manhattan hostel where he stayed. Investigators caught a break when they came across security camera images of an unguarded moment at the hostel in which he briefly showed his face. Retracing the gunman’s steps using surveillance video, police say, it appears he left the city by bus soon after the shooting outside the New York Hilton Midtown. He was seen on video at an uptown bus station about 45 minutes later, Kenny said. With the high-profile search expanding across state lines, the FBI announced late Friday that it was offering a $50,000 reward for information leading to an arrest and conviction, adding to a reward of up to $10,000 that the NYPD has offered. Police say they believe the suspect acted alone. Police distributed the images to news outlets and on social media but so far haven’t been able to ID him using facial recognition — possibly because of the angle of the images or limitations on how the NYPD is allowed to use that technology, Kenny said. Late Saturday, police released two additional photos of the suspected shooter that appeared to be from a camera mounted inside a taxi. The first shows him outside the vehicle and the second shows him looking through the partition between the back seat and the front of the cab. In both, his face is partially obscured by a blue, medical-style mask.