Al-Ahram, Al-Akhbar and Al-Dostour all lead with the recent announcement that state-owned companies will no longer be sold to foreign investors.
Minister of Investment Mahmoud Mohie Eddin announced yesterday that the government will maintain ownership of factories even if they operate at a loss. In such cases, the ministry may develop the factories and then sell a small percentage to Egyptian investors, according to Mohie Eddin.
The minister also announced a new system of incentives that will pay a two-month bonus to workers, which will be distributed in two phases, the first before the end of July 2010 and the second before the end of January 2011. Mohie Eddin pointed out that this bonus includes all companies, including unprofitable ones.
Rose el-Youssef reports that Egypt is losing LE3.7 million annually due to malnutrition. In a confrence organized by the United Nations nutrition program, it was announced that the cause behind Egyptian malnutrition is poverty, but malnutrition also helps to increase poverty levels as it makes people less productive.
Al-Shorouq reports that the recent volcano eruption in Iceland has caused EgyptAir to loses LE18 million. The company is making some budget cuts to minimize losses, according to Al-Shorouq.
The Rafah border crossing between Egypt and the Gaza Strip was opened Wednesday, to facilitate the return of Palestinian patients to their homes in Gaza after receiving treatment in Egyptian hospitals, according to Al-Shorouq. The official source at the Rafah crossing pointed out that the border would be opened twice a week for
he return of the sick patients.
Egypt’s newspapers:
Al-Ahram: Daily, state-run, largest distribution in Egypt
Al-Akhbar: Daily, state-run, second to Al-Ahram in institutional size
Al-Gomhorriya: Daily, state-run
Rose el-Youssef: Daily, state-run, close to the National Democratic Party’s Policies Secretariat
Al-Dostour: Daily, privately owned
Al-Shorouq:Daily, privately owned
Al-Wafd: Daily, published by the liberal Wafd Party
Al-Arabi: Weekly, published by the Arab Nasserist party
Youm7: Weekly, privately owned
Sawt el-Umma: Weekly, privately owned
