Media Watch

queenie40something

queenie40something

Senior Member
Hi Iain had posted this a few days ago - it is on the previous page of this thread.

Regards

Alison x
 
wemyss1960

wemyss1960

New Member
Egyptian resort company - Sahl Hasheesh

Egyptian Resorts pre-tax earnings up 51% in Q2

Egyptian Resorts Company EGTS.CA made 184.5 million Egyptian pounds ($34.1 million) in earnings before tax in the second quarter of 2008, up 51 percent on the same period of 2007, the company said in a statement on Sunday.

Revenues were 60 percent higher at 226.6 million pounds and earnings per share were 21 percent higher at 0.17 pounds, it said. The shares opened in Sunday trading at 3.45 pounds.

The company said revenues dropped 7.9 percent in the first six months of the year, mainly because of the sale of a plot to subsidiary Sahl Hasheesh Company in the first quarter.

The weighted average price of the company’s land at Sahl Hasheesh on the Red Sea coast has risen to $148 a square metre in the first half of 2008 from $78 in 2007, Chief Executive Richard Turner said in the statement.

“Maintaining a healthy price increase is important as we endeavour to preserve an increasing net asset value for our land,” he added.

Egyptian Resorts, often a popular stock with retail investors, has extensive land holdings on the Red Sea.




Not a bad return as they purchased all 32 million m2 for 1 dollar m2
 
D

dave99

New Member
Price of Land in Sahl Hasheesh

Egyptian Resorts pre-tax earnings up 51% in Q2

Egyptian Resorts Company EGTS.CA made 184.5 million Egyptian pounds ($34.1 million) in earnings before tax in the second quarter of 2008, up 51 percent on the same period of 2007, the company said in a statement on Sunday.

Revenues were 60 percent higher at 226.6 million pounds and earnings per share were 21 percent higher at 0.17 pounds, it said. The shares opened in Sunday trading at 3.45 pounds.

The company said revenues dropped 7.9 percent in the first six months of the year, mainly because of the sale of a plot to subsidiary Sahl Hasheesh Company in the first quarter.

The weighted average price of the company’s land at Sahl Hasheesh on the Red Sea coast has risen to $148 a square metre in the first half of 2008 from $78 in 2007, Chief Executive Richard Turner said in the statement.

“Maintaining a healthy price increase is important as we endeavour to preserve an increasing net asset value for our land,” he added.

Egyptian Resorts, often a popular stock with retail investors, has extensive land holdings on the Red Sea.


Not a bad return as they purchased all 32 million m2 for 1 dollar m2
If land was so cheap why are the prices so much more expensive than in Hurghada.
.
 
W

wellheld

New Member
Don't you feel a little ripped off? And havn't sales slowed now prices have increased?
 
L

Lsab

New Member
Breaking news on Sky news - Ryan Air to close it's base in Valencia.
 
queenie40something

queenie40something

Senior Member
Your welcome girls and thanks for the other links Georgina - just tried it again Sue and the sound is ok so might be worth trying it again xx

Hope you are both well xxx
 
iain

iain

New Member
:
Endangering one's own life is a crime in Egypt?

How come everyone who has ever tried to cross the Sheraton Road in Sekalla during the evening has been allowed to walk free then?!
:D
Looks like the blue and white taxis are out! (probably all taxis come to think of it).

Eating in several restaraunts, riding camels, diving, swimming with sharks, living with rats the list is endless........:eek:
 
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dave99

New Member
Good report

Thanks for info Alison.......

Video looked very interesting but I couldn't get the sound to work so hadn't a clue what it was about.
Regards
Sue
Sound worked OK for me - good report

Not all bad news either.
.
.
 
G

GM43

Banned
Ministry of Environment: 400,000 Tons of Dangerous Wastes and Pesticides in Egypt in 2007

By Mona Yassin 21/ 11/ 2008

A report on the state of the environment in 2008, issued by the Ministry of Environment, reveals there are several problems related to environmental pollution in Egypt and affirms that these problems could cause serious illnesses.

The report has been overseen for the first time by Dr. Moustafa Talba, chairman of the International Centre for Energy, Environment & Development, and by ecologist Mohamed el-Qassas.

It links the increasing rates of air pollution to deaths caused by cardiovascular and respiratory illnesses.

It warns from exposure to lead, which it describes as the worst pollutant.

The report ascribes the increasing air pollution last year to the increasing number of car exhausts, which have contributed by 26% to the formation of a black cloud. The report, however, also blames the burning of a million tons of solid wastes per year.

According to the report, the volume of dangerous wastes and pesticides produced in Egypt has increased considerably (up to 391,000 tons).

As for expired pesticides used in agriculture, they have reached 1,160 tons so far, while the garbage accumulated nationwide is estimated at 66 million tons.

The report also mentions the increasing levels of noise in major cities and governorates' capitals over the last few years, describing it as worrying.

It ascribes this to wrong planning and warns that this could have serious repercussions on people's health, such as high blood pressure, ulcer, cramps and nervous and psychological illnesses, while children's capacity to learn might also be affected.

The report affirms that the Nile is very much polluted due to industrial, agricultural and tourist activities. It also says this has prompted the Ministry of Environment to set programs aimed at stopping industrial sewage from being drained into the Nile and being used to cultivate woods.

The report also reveals that fish wealth in Egypt has been halved by arbitrary fishing and failure to apply fishing laws.
source: Almasry Alyoum
 
G

GM43

Banned
Rising sea threatens millions in Egypt

Jonathan Spollen, Assistant Foreign Editor

* Last Updated: November 21. 2008 12:29AM UAE / November 20. 2008 8:29PM GMT

More than two million Egyptians will lose their homes within the next 25 years and at least six million will have been made homeless by the end of this century as a result of rising sea levels caused by climate change, according to a UN report.

The State of the World’s Cities Report 2008/9: Harmonious Cities, by the UN Human Settlements Programme (UN-Habitat),says a sea level rise of 50cm will lead to major coastal erosion, flooding and a rise in the water table, forcing two million people in Egypt’s north coast and delta region to abandon their homes.

It will also wipe out 214,000 jobs, cost US$35 billion (Dh128.5bn) in lost property and tourism income and result in the destruction of world-famous historic, cultural and archaeological sites.

According to studies by institutes in Egypt, the Mediterranean has been rising two centimetres each year for the past 10 years, meaning it will take at most 25 years before what the UN calls a “catastrophe” will unfold in northern Egypt.

But many analysts believe the impact of rising sea levels will be even greater and felt sooner.

“This is not just something that happens in 2050 or 2100, it is happening now, slowly but surely,” said Salah Soliman, of Alexandria University’s faculty of agriculture who holds regular workshops on combating climate change.

According to Prof Soliman, people in towns and villages across the north coast are already making plans to leave as the sea begins to encroach their land.

Residential and commercial buildings farther inland are beginning to suffer foundation damage as the water table rises, leaving them vulnerable to collapse, especially in the case of earthquakes.

“People know their houses will be demolished in a few years,” Prof Soliman said.

As well as structural damage, farmers throughout the delta are losing crops to the rising water table as the salty seawater contaminates the groundwater and makes the soil infertile.

This is particularly worrying given nearly half of Egypt’s agriculture – including such crops as wheat, rice, corn and cotton – takes place in the delta region.

While the delta accounts for only 2.5 per cent of Egypt’s land mass, more than one-third of the population lives there. Alexandria on the north coast is Egypt’s second biggest city with an estimated population of five million.

Moreover, projections of how many people will be affected by the rising sea levels use current population estimates, but Egypt’s population of 80m is expected to double by 2050.

The north coast is famous for its beautiful sandy beaches, but in past decades many have receded or, as is the case in Alexandria, disappeared.

While certain measures have been taken to slow coastal erosion, such as constructing breakwaters along the beaches, scientists and researchers say it is too late to prevent or reverse the encroachment of the sea and the rise of the water table and planning now needs to focus on “adaptation” and damage limitation.

Boshra Salem, the chairwoman of Alexandria University’s department of environmental sciences, said vulnerable areas should be identified and not built upon, but pointed out that construction work in such areas, particularly along the coastlines, continued unabated.

“There are some touristic projects that are still ongoing in the shores and beaches, and these will definitely be affected,” Prof Salem said.

Relocation plans for people in affected areas are urgently needed and future building in such areas must be avoided, said Prof Soliman, of the university’s agriculture faculty.

As for farmland, he said, one possibility was to develop crops that are resistant to high levels of salt to cope with the inevitable increase in salinity.

Maged George, Egypt’s environment minister, insists the government is working on a national strategy to adapt to climate change and rising sea levels.

Moreover, Mohamed el Shahawy, a climate scientist at the Egyptian Environmental Affairs Agency, told the Associated Press the government was obtaining a “vulnerability index and detecting the most vulnerable regions”.

Though he admitted Egypt would need international assistance.

“Egypt is trying to protect its shores,” Mr Shahawy said. “After this we will request that the world help. We have to protect ourselves. But it costs so much.”

Another problem both experts and the government face is public apathy. Many Egyptians in the delta region live in dire poverty and are more concerned with putting food on the table.

Sensationalist coverage of the rising sea levels in local media has not helped either, Prof Salem said, leading to public scepticism over how serious it really is.

“Some people believe in it and some don’t. This is because [there were] a lot of exaggerations in the newspapers and TV that were not built on sound scientific data… So people started to worry about other living problems.”
source: Rising sea threatens millions in Egypt - The National Newspaper
 
Georgina

Georgina

New Member
I wonder about the Red Sea Coast? El Gouna is especially low lying with lagoons constantly eroding. And along the coast towards Hurghada there are some areas where the land is almost at sea level up to the main road. About four years ago after a particlarly bad storm the flooding was up to the road at this narrow section of the beach. I was at a friend's villa down the private road just before Calimera Hotel. The other side of that is a construction site and the first buildings were completely flooded. With all the massive construction that has gone on since, this development has not been touched.

Do they think Red Sea levels will rise too or just the north coast?
 
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