البورصة توقف أكواد المستثمرين التى تختلف بياناتهم عن الرقم القومى

أكدت إدارة البورصة أنه سيتم إيقاف التداول على أسهم أى مساهم تختلف بيانات رقمه القومى عن البيانات الموجودة فى الكود الخاص به فى البورصة، وذلك لحين تحديث بياناتهم عن طريق وعلى مسئولية شركات السمسرة، وبما يتوافق مع بيانات الرقم القومى وإثبات مكوناته الكاملة، وذلك طبقاً أحكام القانون رقم 143 لسنة 1994، ووفقاً للإعلانات التى سبق للبورصة التنبيه بها على المتعاملين بذلك، وآخرها المخاطبة الصادرة لكافة شركات السمسرة فى 4 مايو 2010.

وقالت البورصة إن ذلك يأتى فى إطار الإجراءات الاحترازية التى تقوم بها البورصة للحفاظ على المساهمين والسوق بجميع أطرافه فى الفترة الحالية.

وأكد الدكتور خالد سرى صيام رئيس مجلس إدارة البورصة المصرية "أنه سيتم يوم الأحد المقبل اتخاذ القرار النهائى بشأن تحديد موعد استئناف عمل البورصة"، وذلك التزاماً منها بالإعلان عن موعد بدء التداول قبل 24 ساعة من التداول.

وأضاف صيام أن قرار بدء التداول من عدمه يأتى بعد المشاورات مع هيئة الرقابة المالية وقوى السوق الأخرى من مصر للمقاصة وشركات السمسرة وجمعيات المستثمرين، مشيراً إلى أن هيئة الرقابة المالية مستمرة فى تطبيق الإجراءات التى أعلنت عنها الأسبوع الماضى، والمتعلقة بتجميد أرصدة من صدرت ضدهم قرارات من النائب العام، ومخاطبة البورصات الأجنبية، وكذلك حصر صناديق (الأوفشور) الأجنبية التى يملكها مصريون، فضلاً عن محاولة حل مشكلات المستثمرين المتعلقة بالمديونيات لصالح شركات السمسرة.

أسرة مبارك تفشل فى بيع أملاكها بشرم الشيخ

علم "اليوم السابع" من مصادر رسمية أن أسرة الرئيس السابق حسنى مبارك فشلت فى بيع أملاكها فى منتجع الجولف بمدينة شرم الشيخ يوم أمس الأربعاء.

وقالت المصادر اليوم الخميس، لـ "اليوم السابع" إن أحد المسئولين الكبار بمحافظة جنوب سيناء اصطحب معه رجل أعمال إيطالى من شرم الشيخ، وذهب لتوثيق عقد بيع 53% من المنتجع، والتى تملكها أسرة الرئيس، إلا أن موظفى الشهر العقارى بجنوب سيناء رفضوا، متعللين بأن القانون يقضى بعدم بيع أكثر من 49% من الشركات أو المنتجعات للأجانب، ومع احتجاج المسئول عليهم، طلبوا منه مخاطبة وزير العدل للموافقة على التوثيق، إلا أنه رفض وتركهم، ونجح الموظفون فى إفشال مخطط بيع أملاك أسرة الرئيس بشرم الشيخ للمستثمر الإيطالى.

استئناف الدراسة بالمدارس الأسبوع المقبل وتأجيلها بالجامعات

أعلن الدكتور أحمد جمال الدين موسى وزير التعليم والتعليم العالى، أنه تقرر استئناف الدراسة بالمدارس بداية من الأسبوع المقبل مع منح المحافظين صلاحية تأجيلها وفقا لأوضاعها داخل كل مديرية تعليمية.
أوضح موسى فى أول تصريح له بعد توليه منصبه أن الدراسة ستؤجل بالجامعات لمدة أسبوع مع فتحها أمام الطلاب خلال هذا الأسبوع لاستخراج أى أوراق خاصة بشئونهم، ولكن دون وجود محاضرات وفيما يتعلق بالجامعات الخاصة أكد موسى أن الوزارة ستمنح إدارات هذه الجامعات صلاحية تحديد موعد بدء الدراسة.
بذلك تبدأ الدراسة فى المدارس يومى السبت والأحد المقبلين فيما ستبدأ الجامعات يومى السبت والحد من الأسبوع بعد المقبل.

الجيش يتدخل لحماية المعلمين المتظاهرين بنقابتهم من "البلطجية"

تدخلت قوة من الجيش إلى مقر نقابة المهن التعليمية بوسط القاهرة لحماية المتظاهرين من البلطجية وحل الأزمة بين المعلمين والمحتجين ومجلس النقابة الذى يجتمع بمكتب الأمين العام ويرفض الخروج منه.

تمكن مقدم ورائد من القوات المسلحة لتهدئة المتظاهرين وإدخالهم إلى إحدى القاعات بمنى النقابة، كما دخل أفراد القوات المسلحة إلى مكتب مجلس النقابة لبحث أسباب الأزمة التى بدأت بمطالبة المعلمين الأمين العام بالاستقالة وإجراء انتخابات فورية، وتطور الأمر بحضور بلطجية وانتهى باجتماع دون نتيجة، وهدد المتظاهرون بالاعتصام داخل مبنى النقابة لحين الاستجابة لمطالبهم.

فاروق الباز :لن أترشح للرئاسة لأن جيلى فاشل

قال العالم المصرى الكبير الدكتور فاروق الباز، عالم الفضاء ،أنه تم مناقشة سبل تنفيذ مشروع ممر التنمية خلال اجتماعه مع الدكتور أحمد شفيق رئيس مجلس الوزراء صباح اليوم الأحد وأمس السبت، على أن يقتصر دور الحكومة فيه على تقنينه وأن تأول ملكيته للشعب عبر سندات وأسهم يتم طرحها مقابل جنيه واحد للسهم ،حيث تبلغ تكلفته 24 مليار دولار يمكن جمعها خلال 6 شهور فقط ليستوعب 20 مليون نسمة.

وأضاف أن احتمالا كبيرا أن تبعد الحكومة عن تمويل مشروع ممر التنمية وبذلك لن يكون ملك الحكومة الحالية أو القادمة بل سيكون ملك للشعب من خلال عمل شركة باستثمارات المصريين عبر طرح سندات وأسهم المشروع بمقابل جنيه واحد فقط للسهم، موضحا أن المشروع هو مرتبط بالدولة وليس بالحكومة التى وظيفتها فقط هو تقنين المشروع ولن يترك فى أيدى "شوية لصوص" بل سيكون ملك الشعب عبر حق الانتفاع.

وأكد "الباز" خلال مؤتمر صحفى له نظمته لجنة الثقافة بنقابة الصحفيين، أنه لن يترشح لرئاسة الجمهورية مبررا ذلك بأنه "رجل عالم ليس له فى السياسة وأنا من جيل مبارك اللى فشل ذريعا فى تحقيق أى أمانى لمصر والعالم العربى وهذا قلته لمبارك منذ عام 2006"، مضيفا أن الجيل الذى بعده من سن 45 حتى 65 سنة هم أيضا جيل خربان وأن على الجميع وخاصة الشباب إذا جاء لكم عمرو موسى أو أحمد زويل أو البرادعى لا تنتخبوا إلا بعد الإطلاع على برنامجه الانتخابى الذى يخدم مصر.

وأضاف الباز أن مصر لديها أفضل علماء الزراعة وهى قادرة بعلمائها على تحقيق الاكتفاء الذاتى من القمح، إذا تم إعطاء الفرصة لهم بعمل أبحاث يتم تطبيقها قائلا: "والله العظيم أولادنا فى وزارة الزراعة قادرين يعملوها خلال سنوات".

وأوضح الباز أن الأبحاث التى أجراها علماء الزراعة خلال الـ25 سنة الماضية لمعرفة الأراضى الزراعية التى تتحول من زراعية إلى مبان وجدت أن مصر تفقد سنويا 30 ألف فدان زراعيا وأنها بعد 130 عاما ستفقد مصر أراضيها الزراعية، لافتا من هنا تأتى أهمى ممر التنمية تتمثل فى استيعابه 20 مليون نسمة بعد 130 عاما من الآن إذا أستمر الوضع الحالى لن نجد الإ الأسمنت لنأكله.

واقترح الباز أن يكون شعارنا خلال الفترة المقبلة هو "البناء فوق المبانى وليس فوق الأراضى الزراعية" وأن تبدأ من الحكومة والمحافظة والبوليس لان هذا هو مستقبل مصر، كما أن وسائل الإعلام والصحافة لابد أن تلعب دورا مهما خلال هذه الفترة بعدم كتابة أشياء غير دقيقة وعدم التهويل من الإضرابات الحالية، كما أن الصحافة ووسائل الإعلام لن تكون رجال إلا إذا انفصلت عن الحكومة.

وصف الباز مشروع توشكى وشرق العوينات بالمشاريع الخربانه والخايبة لأنها بعيدة عن الناس، وأن تنمية سيناء والوادى الجديد وتوشكى وشرق العوينات لن يخدم المصريين كما سيخدمهم ممر التنمية حيث كل منهما لن يستوعب أكثر من مليون ونصف نسمة، كما أنه سيأخذ وقتا أطول وتكلفة أكبر.

"نيويورك تايمز" فى إمبابة

أنطونى شديد مراسل نيويورك تايمز

"لم تكن المهمة سهلة".. هى بضع كلمات تصف جولة صحفية لا تخلو من المفارقات الغريبة قام بها "اليوم السابع" المصرى والنيويورك تايمز الأمريكية بأحياء إمبابة التى شهدت أحداثاً ملتهبة فى فترة التسعينيات عندما كانت منبعاً للجماعات الإسلامية الأصولية لتطغى بها الآن المشاكل الحياتية اليومية على التعصب الدينى وتسودها آراء واتجاهات تطمح إلى مزيد من الحرية والديمقراطية مع "كسرة" خبز وكرامة إنسانية حملتها شعارات ثورة 25 يناير الفارقة فى حياة المصريين.


بدأت الجولة على مرحلتين قبل وبعد تنحى أو تخلى الرئيس السابق حسنى مبارك عن السلطة، وكان لذلك بالغ الأثر فى رصد المفارقات قبل وبعد نجاح ثورة الشباب.


كانت البداية قبل الخطاب الأخير للرئيس مبارك مع سائق التاكسى عم أسامة رمضان الذى كان يرى فى تظاهرات ميدان التحرير "وقف حال" وراءه "شوية عيال وناس فاضيه"، وبمناقشته حول مسئولية رب البيت عن أفراد أسرته فى ظل تزوير لا يكل ولا يمل للانتخابات وفشل فى إدارة الدولة أدى إلى الإحساس بالغربة داخل الوطن من موظف أو شرطى لا يراعى ضميره ولا يكفيه راتبه بضعة أيام ورشاوى ومحسوبيات وغلاء وغيرها من مظاهر العفن التى إن وجدت فى كل بلدان العالم كما يتشدق بعض المستفيدين والفاسدين فلنا أن نرى أيضا فى هذه البلدان صوراً مشرقة من فترات رئاسية محددة وقادة دول فى الأربعينيات من العمر، منهم من يعيش جدته فى أكواخ كينيا ومنهم مولود لعامل بسيط يصل إلى سدة الحكم دون وساطة أو كارت توصية، فما كان من السائق بعد حديث ليس بالقصير بسبب زحمة المرور سوى الإجابة بكلمتين "عندك حق".


وصلنا إلى إمبابة وبإحدى الحدائق على كورنيش النيل حاولنا الحديث لشخصين يظهر عليهما بساطة الحال وفقر المعيشة، إلا أنهما رفضا الحديث معنا وبدا عليهما حذر ممزوج بخوف استغرب له زميلى مراسل النيويورك تايمز ذو الجذور اللبنانية أنطونى شديد قائلا بلكنة عربية: "معقول لسه فيه خوف".


بعدها بدقائق تقابلنا وخمسة شباب تتراوح أعمارهم ما بين 17 إلى 20 عاماً، جميعهم سائقو "توك توك" اشتكوا جميعا من سوء معاملة الشرطة باحتقارهم وتلفيق القضايا لهم وغيرها من الممارسات التى تجعلهم يكرهون البلد واللى فيها، ولكن المفارقة الغريبة التى أثارت دهشتنا أنهم كانوا يؤيدون الرئيس مبارك إلى أقصى مدى ويرون أن الفساد يكمن فى الحكومة فقط إنما الريس "مظلوم ومايعرفش حاجة"، وأكدوا أنهم ذهبوا أكثر من مرة إلى ميدان التحرير ولكن ضد المتظاهرين.


توغلنا إلى قلب إمبابة بمنطقة البصراوى مع نصائح من عم أسامة بضرورة توخى الحذر لأن معظم أبناء المنطقة يؤيدون مبارك لا لشىء سوى لإيمان بعضهم بتاريخ الرجل الذى يكفل لهم حياة آمنة مطمئنة دون حروب ولأن المصريين لا ينكرون الجميل ويحترمون الكبير ولا يقبلون إهانته بأى شكل، وظهر ذلك بوضوح من آراء بعض الشباب من أصحاب المحلات التجارية منهم "مايكل حنا" (21 سنة) بمحل للحلويات و"سيد نبيل" (18 سنة) بمحل موبايلات، وأكدا تأييدهما للرئيس مبارك، وأن الفساد فى الشرطة التى تحكم البلد بقبضة من حديد، وعند سؤالهم عن اهتمامهم بالمشاركة فى الانتخابات والإدلاء بأصواتهم أكدا أنهما لا يهتمان لأن نتيجتها معروفة.


على إحدى النواصى قابلنا ثلاثة من الشباب لا يتجاوز عمر أكبرهم الثالثة والعشرين وكانت آراءهم مختلفة عن سابقيهم بدعمهم ثورة 25 يناير وأنهم يذهبون من حين لآخر للمشاركة فى المظاهرات رغبة فى الحرية والكرامة وفرص العمل التى تعتبر أهم مشكلات المنطقة، فضلاً عن القمامة التى تملأ الشوارع فى كل اتجاه.


وأكدوا على تراجع تأثير الجماعات الإسلامية التى اشتهرت بها إمبابة فى فترة التسعينيات وقت تنامى العمليات الإرهابية، إلا أنها تراجعت بعد المراجعات الفقهية والمساومات الأمنية وغيرها من الأحداث التى أبقت على بعض الجماعات دون تأثير كبير باستثناء جماعة الإخوان المسلمين التى مازال نشاطها ملحوظاً، رغم عدم ميل غالبية الشباب بالمنطقة للانضمام للجماعة وتفضيلهم حياة الحرية، على حد وصفهم، وظهر ذلك بوضوح فى آراء بعضهم عند سؤالهم عن إمكانية تأييدهم للإخوان فى أى انتخابات مقبلة بالرد، بأنهم يحبون الحرية ولا يريدون قيوداً على حياتهم والدين والحساب لله.


وقال أحمد متولى (21 سنة)، إن أهم ما يفكر فيه شباب إمبابة الفلوس والزواج والشقة وفرصة عمل وسيختارون أى شخص يوفر لهم ذلك، أما الدين فلا يمثل لكثير منهم أى اهتمام، فى الوقت الذى يمثل فيه الإخوان المسلمين أكبر وأقوى تنظيم بالمنطقة، إلا أن تأثيرهم ليس كبيراً، مقارنة بتأثير الجماعات الإسلامية فى فترة التسعينيات، مشيرا إلى قصة الشيخ جابر بمنطقة "الشجرة" الذى كان "طبالا" فى الأفراح وتبناه الأمن ليكن رمزاً مشوهاً للجماعات الدينية فى صورة شبيهة بشخصية "ريشة" فى فيلم "دم الغزال" لوحيد حامد.


وأكد متولى أن إمبابة تعتبر منطقة مؤيدة لمبارك ويلقى أهلها دائما باللوم على الحكومة فى تدهور الأوضاع، كما أن الحكومة عندهم تعنى الشرطة، ونفى متولى أن يكون الإخوان من قادوا شباب إمبابة للثورة التى نادت بـ"الخبز والحرية والكرامة الإنسانية".


وفجأة جذبتنى إحدى السيدات تحمل طفلاً رضيعاً على ذراعيها وتوسلت أن أكتب عن قمع الأمن واحتجازهم شقيقها من حين لآخر دون ذنب وإبقائه بالحجز لأيام دون اتهام، وتجمع حولنا الأهالى كل يشكى مظلمته، وكانت فى معظمها بطالة وغلاء ورشاوى وأمن وإيجار وغيرها من المشكلات الحياتية حتى حدثنا شاب ملتح من الجماعة السنية عن فساد الحكومة والوزراء، مؤكداً دعمه للرئيس وجاء بعده ونحن على ذات الناصية ثلاثة شباب على وجوههم غضب حذر، متسائلين عن سبب حضورنا معلنين بحماس "لا نريد تدخل من أحد "والريس حبيبنا" ومش عايزين الجزيرة ولا غيرها اللى عملين يسخنوا المواضيع" واستطعنا الخروج بسلام بعد تأكيدنا لهم أننا ننقل كل الآراء حتى لا يتصور أحد أن مصر كلها ضد الرئيس.


وفى نهاية اليوم الأول تقابلنا "هانى السيد" طالب بالثانوية الذى أكد أن التغيير مطلوب، لأن الوضع الحالى لا يرضى أحد قائلا: "أريد تعليم وحياة مثل الدول المتقدمة، أريد نظافة وفرصة عمل وهى أبسط متطلبات الحياة" وسألناه عن الجماعات الدينية فأجاب: "الحرية مهمة ونحن شعب لديه نزعة دينية بطبيعته ولكن لا أحب أن تكون دولتنا دينية فكلنا مسلمون وأقباط مصريون فى النهاية"، بينما قال "وليد صابر" (29 سنة): "نريد لغة حوار، القوة والبلطجة لم تعد تجدى".


فى المرة الثانية بعد تنحى الرئيس تجولنا بمنطقة السوق ورأينا الباعة الجائلين والمحلات والزحام فى كل مكان وسألنا الناس عن أحلامهم وطموحاتهم بعد تنحى الرئيس ومنهم من عبر عن عدم قبوله للطريقة المهينة التى خرج بها الرئيس على يد "شوية عيال" قائلين: "دا مهما كان بطل الحرب والسلام اللى منع عننا حروب كتير وعيشنا فى أمان".


ومنهم من لم يهتم بالتغيير الذى حدث بسيل التعديلات الدستورية ومحاسبة وزراء لم يراود خيالهم يوما رؤيتهم فى قفص الاتهام.


وقال "محمد عبد الراضى" (29 سنة) يعمل بأحد المحلات التجارية: "مشكلتنا مش الرئيس، مشكلتنا فى النظام والأمن اللى جعلنا نخاف فى بلدنا والرشاوى اللى فى كل مكان" وأضاف: "عايزين مصر جديدة تحترم كرامة ولادها ومستعدين نصبر لحد ما تقف بلدنا على رجليها"، لافتا إلى أن أهم ما يريده أن يستشعر هذا التغيير فى قوت يومه ومعيشته ومعاملة الأمن له.
كما طالب "السيد ناصر" (26 سنة) بإلغاء جهاز أمن الدولة ومحاسبة أى مرتش أو فاسد صغيرا أو كبيرا.


وبعد هاتين الجولتين استخلص زميلى بالنيويورك تايمز عنوانا مقاله "فى منطقة بمصر، المشكلات اليومية تتجاوز الدين"، لافتا إلى أن أزمات البطالة والقمامة والرشاوى والأمن فى إمبابة تتجاوز اهتمام الناس بسيطرة الدين على الدولة بما ينفى مزاعم لطالما استغلها النظام البائد فى ترويع الغرب من احتمال سيطرة الإخوان المسلمين على الحكم فى مصر أو التحول إلى إيران جديدة، واستنتجت بعد هذه الجولة أن مصر فى حاجة إلى ديمقراطية حقيقية بعد توعية المواطنين بأهمية المشاركة فى انتخابات نزيهة حقا ليكون للمواطن الاختيار بين طوائف واتجاهات مختلفة ويكون الفيصل هو الصندوق الانتخابى، مهما كانت النتائج، سواء لصالح الإخوان أو حتى الحزب الوطنى من جديد.

Q&A with Ahmed Galal: The tough yet bright road ahead for Egypt's economy

The 25 January revolution is set to bring about a broad shift in Egypt's administration, away from the Mubarak regime whose policies kept the country in the realm of lagging, underdeveloped nations. One of the most important elements in the shift of will be on the economic front.
While reforms in the mid-1970s and early 1990s helped liberalize its economy in a way that brought more nominal growth, Egypt still counts itself a relatively poor country. The deceptive 5 pecent growth figures have been made negligable by the inequitable distribution of wealth and opportunity, poor government services, as well as the fact that the oppressive political system led to massive brain drain from the country.
The attempt to steer Egypt in a new direction will require a swift democratic shift, as well as a concerted effort to reverse many of the policies and norms that have arguably held the country back from fulfilling its potential. Economists are optimistic regarding the post-revolutionary prospects of the country.
Ahmed Galal, former World Bank economist and Managing Director of the Economic Research Forum, is one of them. He sat with Al-Masry Al-Youm to discuss his views on steering Egypt along a sound economic path. 
Al-Masry Al-Youm: How would you describe the revolution we went through?
Ahmed Galal: Egypt is no longer going to be the same after 25 January. It is going to join a crowd of developing countries that are making the transition, not only the economic, but also the social and political transition.
Al-Masry: Can Egypt emulate the successes of certain other countries that have experienced similarly drastic shifts?  Where do you see the similarities?
Galal: We Egyptians like to think we are very distinct, and indeed we are. However, since the second World War until now, Egyptian modern history is very similar to what has happened to countries in Latin America. Most developing countries after WWII went for the so-called import substitution strategy where you basically protect your domestic industry to industrialize and diversify. Governments had a heavy handed role in the economy and in social provision services. In most countries that strategy has produced enormous benefits, but it also had its limits. The inefficiency of bureaucracy and limits of social programs without enough economic growth resulted in these countries pretty much giving up on it. They moved on and liberalized on the economic front, and frequently on the political front… The Latin American model is what I have in mind. Egypt has done exactly that, although we lagged behind a little bit.
Al-Masry: How so?
Galal: The opening that we started in the mid-70s was a partial opening. It generated some of the disadvantages of capitalism, and the old disadvantages of socialism remained. Up until 1991 we had a system that combined the disadvantages of both (capitalism and socialism). In 1991 we started a process of economic liberalization that continues today. However on the political front we really lagged behind. Now we are completing a story that was inevitable. The only question was how it will happen.
Al-Masry: What made Egypt ripe for this kind of a revolution?
Galal: The society is very young, around 60% are younger than 30. The population is becoming increasingly educated, and educated people don’t accept less than full rights. Three, the technological revolution: the world has become much smaller. People don’t compare Tanta and Cairo, now we compare Cairo to Rio de Janiero. 
Al-Masry: Some say that after 1991 we had the correct economic direction, but the wrong implementation…
Galal: No, it was flawed. It focused on policies that would promote private sector and economic growth, and did not do much on the social front or on the distribution of benefits. Nor did it do enough on the political liberalization side. It was a wrong strategy, and it produced the revolution.
Al-Masry: What would you think the ideal economic strategy should be in the coming period, short-term and long-term?
Galal: If I were to figure out the strategy in the coming period, the next ten years or so, I would say the following: Egypt needs to continue its economic reform agenda to maximize the benefits from private initiatives. Capitalism can be bad. You want to encourage creative capitalism, not crony capitalism, or the kind based on ripping off somebody else.
Then comes the distribution of as well as generation of wealth. We should make sure to reward effort and that no one is left behind. The government’s responsibility is to equalize opportunities for people of different socio-economic classes. We have to make sure that kids who can’t afford to go to school go and are able to get health services, etc.
The third part is making sure those can’t participate in the economic process--or example, the disabled--have a safety net.
Finally, accountability and political liberalization is fundamental to achieving the objectives of growth. Without accountability, policies will be made to benefit the few. At the end of the day we would get neither growth nor distribution. 
Al-Masry: One of the things that incited demonstrations before and after Mubarak resigned was the figures floated of how much certain people in the government make or have stolen.  These drove many to ask, if the money is there, why would it be difficult to implement certain policies such as a higher minimum wage in the short run?
Galal: I am all in favor of subjecting those who violated laws to legal persecution. If you push that too far, so as to punish anyone with wealth now, you are punishing yourself. That would lead to eventually having to cope with fear and lack of investment, so one has to be careful when tackling these issues. 
The issue of income policies cannot be collapsed to the minimum wage. First, if the minimum wage is too high it will cause unemployment. The discussion should focus on how we go about setting the minimum wage to not increase unemployment, while giving wages for people to live easily. This is not easy. It needs careful scrutiny, and an increase in wages has to accompany productivity.
Al-Masry: Labor productivity has recently been a great weakness in Egypt. It has been calculated at around 28 minutes per day for government employees. How should the coming government rectify this?
Galal: The government can implement policies to encourage productivity.  One thing that increases productivity is competition. Another thing the government can do is link productivity to rewards. I should have a system so that whoever is working harder is the one getting recognized and promoted. When you and I are working for the same place, and are both making the same amount of money and I get promoted on seniority basis, there will be no increase in productivity. 
Al-Masry: What can be done to fix the inefficiencies of Egypt’s notorious bureaucracy?
Galal: It is probably one of the hardest challenges facing this government, the next government and the one after. It has faced the government since 1991. There are too many Egyptians locked into government bureaucracies essentially not making enough money to sustain their living. People need second jobs, or get involved in petty corruption, and then get promoted based on seniority…
It needs to be reformed, but it will take time. A few things like this will take a lot of time to fix and this is one of them. Education is another one.
Al-Masry: As a former World Bank Economist, what has been and do you foresee as being their reaction--as well as that of the International Monetary Fund (IMF)--to the situation in Egypt?
Galal: The World Bank and IMF are two international financial institutions among many others that we can benefit from. From an Egyptian development perspective we should be using all instruments to achieve all we want. It’s not about them, it’s about us. It would be a disaster if we let them come and tell us what to do. I don’t worry too much about what they think; I worry about what we think. They actually offered help. I heard that some in power were reluctant to accept some World Bank support right now, because they didn’t want the stigma… That maybe they’re coming to help Egypt and Egypt is falling apart. That might scare investors.
We are not going through a crisis of the kind that the IMF and the World Bank have to come rescue us from. We are going through a serious transition, and the bulk of the work is going to be ours, it isn’t going to be somebody else’s. We should be using all the help we can get, provided we know what we want.
Al-Masry: How do you think fiscal and monetary policy should be used in the coming period, and to what ends?
Galal: In the short-run--by which I mean the next 6 months to a year--we should be careful not to jeopardize national stability. We should be careful, vigilant and prudent in responding to popular demands or getting panicky in response to capital flight if and when it takes place. We should stay cool and collected, and make sure we don’t push the wrong policies into higher inflation, pressure on the pound, and runaway budget deficit. Prudence is the name of the game in the short run. 
The priority right now is the political transition. Economic policies should be in the business of making sure we remain stable, much more than figuring out what to do in the long run. The next government will figure that out. 
This short period is for political reconciliation. This includes making sure that those who have stolen are penalized and ensuring that economic welfare is not shifting too dramatically in one direction over another. The government should basically adopt a “do no harm” policy.
Al-Masry: Which of the previous regime’s policies have had a positive effect and which have been detrimental?
Galal: We moved halfway on the economic reform agenda. On the social side we went for “let things be as they are,” and dealt with those things on the margin. This formula didn’t take us very far. On the political front, we started with a little bit of openness in the media. It was too partial, too timid, and too unreal. It didn’t allow for a full-fledged democracy.
Going forward, we need to do more, with equal force on all three fronts. We have not fulfilled our full potential. Justin Lin, a chief economist at the World Bank always asked me, “Can you tell me why isn’t Egypt doing X, Y, or Z? They look like a country who can, they have all the components.” I think the political context, the policies made, the lack of attention to social cohesion, were responsible. Now you are unleashing that, I think Egypt has enormous potential for the future. That is why I am very optimistic about what’s happening.
Al-Masry: Which sectors should the government focus on propping?
Galal: I think the government should be in the business of setting up the rules equitably and fairly. They should be encouraging all activities and let people be innovative and creative. Maybe for reasons of distribution the government should intervene. They should provide infrastructure more in Upper Egypt and rural areas, as is provided in urban areas. The government may also want to engage in training activities so that young people can meet the demands of the labor market.
There is much the government can do, but for it to come in and say “I want to promote agriculture at the expense of tourism… or cement at the expense of soft drinks”--I am not sure.  Historically, governments who have done so have failed. I am not against selective-intervention, but we have to be very careful.
Al-Masry: Should formalizing Egypt’s large informal sector be a priority?
Galal: The informal sector is at least 30% of GDP and close to 50% of employment. Neglecting this group was one of the biggest mishaps of the previous era. They essentially introduced economic reform that excluded the informal sector. The informal sector is seen as residual. Despite that whenever the economy experienced a shock, it is the informal sector that absorbed that shock. If you’re laid off from a job at a factory in 6th October you can go work in Khan al Khalili or someplace like that. 
When I worked for the Egyptian Center for Economic Research, we produced a draft law on the notion of creating a set-up where it would be beneficial for Egyptians in the informal sector to be integrated into the formal sector, and [the government] really didn’t pay it any attention. By helping the informal sector you are helping reduce poverty.
Al-Masry: Another huge problem that has been a talking point is internal revenue--can the majority of the country be persuaded to pay taxes and have faith in the system soon?
Galal: The problem with taxes is that for the higher brackets they were seen as being too high. The other problem is that they didn’t really see the benefits of the taxation. Third, the increasing inequality in society also enforces that sense that paying taxes is not so beneficial. Then there was the sense of arbitrariness: a frequent problem was that a tax collector would not be convinced by a statement from a business owner and so indicate an arbitrary figure to be taxed.
We need to address these concerns, by first introducing a just, progressive tax rate. Arbitrariness should be removed. You have to have clear rules. Then people have to see the money collected from taxes spent wisely. People see tax revenue as misallocated and benefiting a few.
Al-Masry: What kind of guarantees should the military give to investors, internally and externally to guard from capital flight, and ensure long term economic stability? How can we convince investors of our commitment to correct and consistent policies?
Galal: The credibility of commitment is a very interesting topic. It is very much a function of the institutional set-up of each country. There is no one way of building credibility. For example Jamaica and Chili wrote commitments into law to guarantee investors. It didn’t work in Jamaica, it did work in Chili. In Jamaica every election would bring in a whole new regime that would take over the parliament. When one would takes over, they override the commitments made by their predecessors. In Chile, they had more groups competing politically and so it was not as easy to change based on majority or power, so there is consistency in policies and agreements.
Investors like checks and balances and predictability regarding what’s happening in a country. I think if you have a democratic set-up you are more likely to be predictable. Investors have their political analysts for their investments in other countries. Political and economic multiplicity, checks and balances, and openness are likely make your country more attractive for them.
In Egypt you have really good investment opportunities on the one hand, and the potential to build credibility through a democratic process. I think we are going to be in better shape than we were before.

Military source denies rights group's claims regarding torture of protesters

 

An Egyptian military source has denied allegations by human rights watchdog Amnesty International regarding the alleged arrest and torture of demonstrators who participated in the recent wave of anti-regime protests.The source said that all detainees were currently being investigated. He added that those who had not committed any criminal acts during the recent demonstrations would be released.On Thursday, AmnestyInternational said it had received reports from a number of
demonstrators who claimed they had been arrested and tortured by elements of the armed forces in the last few days of the protests.Theorganization has called on the Egyptian armed forces to conduct impartial investigations into the matter and release all detainees not found guilty of having committed any criminal offenses
“The Egyptian military has publicly announced its commitment to creating aclimate of freedom and democracy,” said Amnesty International Middle East Program Director Malcolm Smart. “And it will have to live up to its promises
Translated from the Arabic Edition.

Young 25 Jan activists announce launch of revolutionary youth union

A group of independent and politically-affiliated young people who participated in Egypt's 25 January revolution held a press conference at the Egyptian Journalists Syndicate on Thursday to announce the launch of  the "Union of the Youth Revolution" in an effort to establish a common position.
The group includes young people from political parties such as the Progressive National Unionist Party, the New Wafd Party, the Tomorrow Party, the Egyptian Communist Party, and the New Left Party. Members are currently trying to establish contact with all political bodies and committees to have emerged during the recent uprising in hopes of forming a unified entity to represent the young people of the revolution.
Group members announced their demands in a statement delivered at the press conference. They called for the creation of a transitional council that includes representatives from the Egyptian Armed Forces, the cancellation of Egypt's longstanding Emergency Law, the dissolution of the State Security apparatus, the dissolution of State Security courts, the dissolution of the the ruling National Democratic Party and the prosecution of its leaders, the dismissal of the current Ahmed Shafiq government, the immediate release of all political detainees, and the setting of a fixed date--no longer than six months from now--on which to conduct fair presidential and parliamentary elections.

Mubarak given up, wants to die in Sharm, says Saudi official

Mubarak given up, wants to die in Sharm, says Saudi official

Egypt's ousted president has given up and wants to die in the Red Sea resort of Sharm el-Sheikh where he has been living since a popular uprising ended his rule, a Saudi official said on Wednesday.

Hosni Mubarak, 82, has suffered from health problems in recent years and travelled to Germany for gall bladder surgery in March last year. Reports of a further decline have increased since he stepped down on Friday after three decades in power.

An official in Saudi Arabia said the kingdom had offered to host Mubarak but he was determined to see out his days in Egypt. Official confirmation could not immediately be obtained from the Saudi government.

"He is not dead but is not doing well at all and refuses to leave. Basically, he has given up and wants to die in Sharm," said the Saudi official, who asked not to be named.

Mubarak vowed to die in Egypt when he addressed the country's 80 million people last week while still clinging to power.

A source with links to the Mubarak family said on Tuesday that the former president was "fine," and had been taking telephone calls. 

Mubarak spent more and more time at his residence in Sharm el-Sheikh near the end of his time as leader, retreating to the clean air and sea breeze to recover from ailments.

Across the sea, visitors can see the shores of Saudi Arabia, where Tunisian President Zine al-Abidine Ben Ali fled after he was toppled last month. The Tunisian experience inspired the Egyptian protest movement that forced Mubarak's resignation

Muslim Brotherhood: We will not run in presidential race

The Muslim Brotherhood, Egypt's largest opposition group, has said it will not nominate any of its members to run in the coming presidential election.

Essam al-Erian, a member of the Brotherhood's Guidance Bureau, said the group is also not seeking a parliamentary majority in the next parliamentary elections.

In statements to Egyptian Television on Tuesday, al-Erian said the group does however plan to form a political party as soon as the freedom to establish parties is provided for, according to the demands of protesters.

"We will then examine the platforms and personalities of all candidates who nominate themselves in the presidential election, and make a decision," said al-Arian.

Army: Constitution will be amended, not replaced

The panel commissioned to change Egypt's Constitution will only work on amending a number of articles rather than drafting a new Constitution, military spokesman Ismail Etman said.
Replacing the Constitution could take more than three years, while the army plans to hand power to a new president within six months, Etman said in a statement to al-Hayat, an independent satellite channel, on Tuesday night.
Egypt's Supreme Armed Forces Council, which assumed power last week, formed a panel of legal experts and law professors to work on amending articles that restrict civil liberties and political candidates. The panel was the army's response to the demands voiced during the weeks of protests that led to the resignation of former President Hosni Mubarak.
Etman said the council is working 24 hours a day to serve the interests of citizens. Etman also emphasized that the military is aware of all the social and economic problems of Egyptian citizens, but is urging people to scale down their protests and to cease exchanging accusations and trying to settle scores.
Etman denied rumors that large sums of money have allegedly been transferred abroad, stressing that airports and seaports are tightly secured.

Egypt's armed forces council: This is no time to settle accounts

"We are not seeking power and this is not the right time to settle accounts," Egypt's Supreme Council of the 
Armed Forces declared on Tuesday. The council went on to say that it did "not have a magic wand" with which it could instantly eliminate corruption.
According to the state-run Middle East News Agency, a source close to the council said that the "tense atmosphere that currently prevails is not conducive to achieving success."
"The council does not seek power; the current situation prompted the armed forces to meet the people's expectations," the same source said.
 “No one expected the corruption to be of this magnitude, and the council does not have a magic wand with which it can instantly eliminate it. However, we will put a stop to any additional corruption and will limit the corruption that exists," the source added.
The source said: “The council is well aware of the economic and social conditions being suffered by the community. However, it cannot resolve these issues until the strikes, protests, and the disruption of production ends."
The source asserted that the people have "the right to protest and organize strikes, but [such actions] are not suitable under the present circumstances."
The source called on the media to refrain from publishing inaccurate information and from leveling accusations at people other than those being investigated by the Attorney General. "Everyone has the right to report wrongdoings to the Attorney General," said the source.
"There are regulations governing the transfer of funds and international travel via private planes, and the Supreme Council of the Armed Forces has said this from the very beginning,” said the source.
Translated from the Arabic Edition.

Presidential scion Gamal Mubarak took LE189.45 million in profits from EFG-Hermes

.

Egyptian investment bank EFG-Hermes announced on Sunday that Gamal Mubarak, son of former president Hosni Mubarak, had taken LE189.45 million worth of profits from the company since 2007.

"EFG-Hermes Financial Group Holding stresses that its relationship with Mr. Gamal Mubarak is limited only to ownership of around an 18-percent stake in one of its subsidiary companies, EFG Private Equity,"  the bank declared in a statement released by the stock exchange.

The firm, which is the largest investment bank in Egypt, also said the bank's relationship with the younger Mubarak dated back to 1997, before the latter became involved in politics.

According to bank reports from the first nine month of 2010, EFG-Hermes revenue totaled LE133.7 million, which puts Mubarak’s profits at LE37 million--this in addition to profits earned from the Commercial International Investment Company worth a total of LE222.5 million, of which Mubarak took LE40.05 million. This puts the total amount of profits accumulated by the ex-president's son in 2010 at LE77.5 million.

Total profits generated by Gamal Mubarak--who quit his position as head of the ruling National Democratic Party's influential Policies Secretariat on 5 February--for the years 2007 to 2009, meanwhile, reached some LE112.3 million, according to company records.

Capital market expert Talal Tawfiq called on the Attorney General to freeze the Mubarak family's assets, especially those of Gamal, whose investments in Egypt are mainly concentrated in funds and companies established abroad.

Obama defends his new budget of 'tough choices'

WASHINGTON – Defending his new budget as one of "tough choices," President Barack Obama said Tuesday that more difficult decisions about the nation's biggest expenses — Medicare, Medicaid and Social Security — will have to be tackled by Democrats and Republicans acting together, not by White House dictates.

"This is not a matter of, 'you go first, I go first,'" he said. "It's a matter of everybody having a serious conversation about where we want to go and then ultimately getting in that boat at the same time so it doesn't tip over."

The president pitched his $3.73 trillion budget as a balance of spending on needed programs and significant reductions that would reduce the deficit by $1.1 trillion over 10 years. The budget includes a mix of spending freezes on domestic programs, pay hike suspensions for federal civilian workers and new revenues from increased taxes on the wealthy and on oil and gas producers.

But Obama's deficit relief is far more modest than that detailed by his fiscal commission, which in December proposed measures that would mop up four times as much red ink. Unlike his blue-ribbon group, the administration's budget does not address structural changes in Social Security or Medicare, the two largest items in the federal budget.

"Look at the history of how these deals get done," Obama said Tuesday. "Typically it's not because there's an Obama plan out there. It's because Democrats and Republicans are committed to tackling this in a serious way."

Egypt's military eyes constitutional referendum

Egypt's new military rulers have signaled their intent to share power with civilians and amend the constitution rapidly by popular referendum, opposition activists and a British minister said on Monday.

Wael Ghonim, a Google executive detained, then released, for his part in the uprising that overthrew President Hosni Mubarak, said members of the military council had told him a plebiscite would be held on constitutional amendments in two months.

British Foreign Secretary William Hague said Prime Minister Ahmed Shafik had let him know that he would reshuffle his cabinet in the coming week to bring opposition figures into the line-up appointed by Mubarak last month.

Earlier, the ruling Higher Military Council urged workers to return to their jobs and help restart an economy damaged by the uprising, which ended Mubarak's 30-year autocratic rule but also sparked a growing wave of strikes.

In a televised address three days after Mubarak was forced to step down and hand power to the armed forces, a military spokesman appealed for national unity.

In "Communique No. 5" read out on state television, the spokesman said: "Noble Egyptians see that these strikes, at this delicate time, lead to negative results." It added that work stoppages were harming security and economic production.

The council now governing the Arab world's most populous nation called on "citizens and professional unions and the labor unions to play their role fully."

Egypt's generals, who played an important role in the anti-Mubarak revolt by refraining from crushing protests, are trying to return life to normal.

Political analysts questioned how long it would take to amend the constitution, stage a referendum and then hold elections to the legislature and executive.

The comments by Ghonim and Hague indicated a willingness to move swiftly, though skeptics will want to see real action. Hague also said Britain had received a request from Egypt to freeze the assets of the 82-year-old Mubarak.

"VICTORY MARCH"

Pro-democracy leaders say Egyptians will demonstrate again if their demands for radical change are not met. They plan a big "Victory March" on Friday to celebrate the revolution -- and perhaps to remind the military of the power of the street.

Using their new-found freedom of expression and protest, angry employees on Monday rallied in Cairo and other cities to complain about low pay and poor working conditions.

Protests, sit-ins and strikes have occurred at state-owned institutions across Egypt, including the stock exchange, textile and steel firms, media organisations, the postal service, railways, the Culture Ministry and the Health Ministry.

Workers cite a series of grievances. What unites them is a new sense of being able to speak out in the post-Mubarak era.

Hundreds of employees demonstrated outside a branch of the Bank of Alexandria in central Cairo on Monday, urging their bosses to "leave, leave!" in an echo of an anti-Mubarak slogan.

At least 500 people staged a wage protest outside the state television building.

The military cleared the last few dozen protesters from Cairo's Tahrir Square, nerve center of anti-Mubarak protests.

But shortly after that, hundreds of police officers marched through to demonstrate solidarity with pro-democracy activists and again stopped traffic flowing through the city center.

In a sign of nervousness, Egypt's stock exchange, closed since January 27 because of the turmoil, said it would remain shut until stability returned to the economy, an official said.

The military rulers called a bank holiday on Monday after disruption in the banking sector. Tuesday will be a national holiday to mark the Prophet Mohammad's birthday.

In a communique on Sunday, the military suspended the constitution and dissolved parliament, moves welcomed by those who saw both as tailored to reinforcing Mubarak's iron rule.

Egyptians generally respect the 470,000-strong military, which receives about $1.3 billion annually in U.S. aid and was shielded from public criticism or scrutiny in the Mubarak era. But some in the opposition still mistrust its intentions.

The top U.S. military officer voiced admiration on Monday for the way Egypt's army had peacefully handled the power shift.

"I think they have handled this situation exceptionally well ... it's been done peacefully, and we have every expectation that that will continue," Admiral Mike Mullen said.

TRANSITION TIMEFRAME

Free and fair elections will be held under a revised constitution, the military said. But it gave no timetable beyond saying it would be in charge "for a temporary period of six months or until the end of elections to the upper and lower houses of parliament, and presidential elections."

"The Egyptian regime is still there, still controlled by old generals," political risk consultancy Stratfor said.

"They have promised democracy, but it is not clear that they mean it. If they mean it, it is not clear how they would do it, certainly not in a timeframe of a few months."

As the "Revolution on the Nile" sent shock waves around the Middle East, troubling global financial markets worried about oil supplies, there were clashes in both Bahrain and Yemen, neighbors of the world's biggest oil exporter Saudi Arabia.

In Tehran, too, police fired teargas at demonstrators.

Some Iranian demonstrators demanded Supreme Leader Ayatollah Ali Khamenei suffer the same fate as the ousted Egyptian and Tunisian presidents: "Mubarak, Ben Ali, now it's your turn, Sayyed Ali!" they chanted, according to videos seen on YouTube.

Algeria said on Monday a 19-year-old state of emergency there would be lifted in days, brushing off concerns that recent protests could escalate as in Tunisia and Egypt.

Egypt's army said it would lift the country's own hated state of emergency, implemented after the 1981 assassination of Mubarak's predecessor Anwar Sadat by Islamist soldiers and kept in place by Mubarak to stifle dissent. It has yet to say when this will happen, troubling pro-democracy campaigners.

"OLD SOLDIERS"

"The week began with an old soldier running Egypt. It ended with different old soldiers running Egypt with even more formal power than Mubarak had," Stratfor said.

Any transition to democracy will be fraught with difficulty, and old ways of doing things may die hard in a country where the ruling party routinely rigged elections and candidates used bribery, hired thugs and dirty tricks to ensure victory.

Existing registered parties are mostly small, weak and fragmented. The Islamist Muslim Brotherhood, which under the now suspended constitution could not form a party, may be the best organized group but its true popularity has yet to be tested.

Its strength worries some in the United States, which backed Mubarak, as well as in Israel, for which Mubarak's Egypt was an important ally in a predominantly hostile region.

Other parties need at least a year for an election, said one politician who struggled to found a party under Mubarak.

"If parliamentary elections happen now, the only party ready to go into elections are the Muslim Brotherhood, as for the rest, they are not ready," said Abou Elela Mady, who broke away from the Brotherhood in the 1990s and tried four times to get official approval for his Wasat Party.

Ghonim said the army wanted young Egyptians to set up new political parties for the forthcoming elections. "The army encouraged youth to start serious steps to establish political parties that reflect their ideas and opinions," his report said.

The army has pledged to uphold Egypt's international obligations, which include a peace treaty with Israel.

Egypt calls for aid as instability lingers

Egypt on Tuesday called for international support to speed its recovery after its military rulers urged an end to labour strikes that have erupted since the overthrow of president Hosni Mubarak.The worker protests that had gripped the country abated on Tuesday as it observed a religious holiday, but they threatened to flare again as Egyptians used their newly-won freedom to press for higher wages and better conditions.Foreign Minister Ahmed Abul Gheit said the economy had been "severely affected by the political crisis that has shaken the country" and called for international aid after phoning his US, British and Saudi

counterparts.Gheit's remarks came as EU finance ministers were to meet to discuss requests from Cairo to freeze the assets of members of Mubarak's toppled regime following widespread allegations of corruption during his 30-year reign.Egypt has launched graft investigations and slapped travel bans on several former ministers, including sacked prime minister Ahmed Nazif and the hated former head of the feared police, interior minister Habib al-Adly.The military junta which assumed power following Mubarak's resignation on Friday has largely dissolved his regime and promised democratic elections in six months while in the meantime urging calm on Egypt's streets."Honourable citizens can see that protests at this critical time will have a negative effect in harming the security of the country," the Supreme Council of the Armed Forces announced Monday, though it stopped short of an outright ban.The 18-day popular uprising that toppled Mubarak had splintered into pay strikes by workers in the banking, transport, health care, oil, tourism and textiles sectors, as well as state-owned media and government bodies.The strikes -- many of which were aimed at removing corrupt union leaders tied to Mubarak -- came to a halt the following day as Egypt marked the birth of the Prophet Mohammed, a Muslim holiday.The strikes have prompted the stock exchange to once again postpone reopening until next week, further clouding the economic outlook after the uprising dealt a major blow to tourism and other vital industries.At the height of the revolt Egypt was haemorrhaging more than $300 million a day, according to a report earlier this month from Credit Agricole, which lowered a growth forecast for 2011 from 5.3 percent to 3.7 percent.The military council has dissolved parliament and suspended the constitution that underpinned Mubarak's autocratic rule and strongly favoured his National Democratic Party (NDP)The dissolved parliament was seen as illegitimate after elections last year, marred by allegations of fraud, gave the NDP an overwhelming majority.The protesters also called for the lifting of a 20-year-old emergency law that allowed Mubarak's regime to detain suspects indefinitely without formal charges, a call backed by the United States."One of the demands which we have supported for a long time is to lift the emergency decree," US Secretary of State Hillary Clinton said Monday."There has been an announcement that will be done and we hope that it will be," she added, in an interview with Al-Jazeera television.Egypt's protest movement, inspired by the Tunisian uprising, has in turn triggered anti-government demonstrations around the Middle East, from Algeria to Iran and Yemen.