InfoAnda - Chinese 'gold' brings Egyptians a taste of little luxury

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Supermodel Naomi Campbell Hit With Lawsuit By Fragrance Company | 31 October 2009
60 killed in double bombing at Iraqi shrine | 25 April 2009
Fireworks, dances greet Year of the Rabbit | 3 February 2011

Hauppauge soars on TV streaming app for iPad, iPhone | | 15 May 2010

Forum Views () Forum Replies ()

Read more with google mobile : Chinese 'gold' brings Egyptians a taste of little luxury

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Asia Pacific World Chinese 'gold' brings Egyptians a taste of little luxury AFP - Friday, August 13 Send IM Story Print Chinese 'gold' brings Egyptians a taste of little luxury CAIRO (AFP) - – A Cartier ring for just eight dollars? In Egypt, "Chinese gold"-- an affordable imitation of the precious metal-- has swamped the jewellery market, granting the poor a little taste of luxury. As in many other countries, the Egyptian market has been flooded with Chinese goods -- everything from electronics to plastic cigarette lighters have been shouldering locally made goods out of the way. And in a country where 40 percent of the 80 million population lives on less than two dollars a day, the so-called Chinese gold has been widely welcomed, particularly by young couples who struggle to afford the traditional marriage dowry. The current price of one gram of 24 carat gold in Egypt stands at 218 Egyptian pounds (38 dollars), while the Chinese version -- a mixture of aluminium, iron and other metals -- only costs around 20 to 30 Egyptian pounds (four to five dollars) per gram. "Chinese accessories are cheap and elegant, the styles are varied and the best thing is that they look just like gold," said 31-year-old Amira showing off her Chinese trinket. Ancient Egyptians considered gold the skin of gods, lending it spiritual as well social value. A walk down Old Cairo -- lined with jewellery shops -- is a testament that the pharaohs' modern-day compatriots still hold high regard for the precious metal. But as unemployment and rising inflation weighs down on a large part of the population, Egyptians are looking to alternatives for their coquetterie. Just a short walk from the Khan al-Khalili tourist bazaar is Haret al-Yahud, the old Jewish quarter where gold workshops churned out designs from simple wedding bands to elaborate necklaces. But many of the jewellers there have switched to selling Chinese gold to improve business. Amira, an accountant, says she goes to the area especially to buy herself the Chinese goods. "They look like gold, and most importantly, they are affordable," she said. "Few have the means to buy real gold these days, which is why the Chinese gold is so in demand," said a woman selling the faux-bijoux in the quarter, who gave her name only as Nora. "We have very nice rings, imitation Chanel and Cartier for less than 50 Egyptian pounds (around eight dollars)," said Azza Riad, who, making the most of the high demand, has just opened a store in the popular Ain Shams district in northwest Cairo. "A woman can now by herself an imitation Bulgari set which includes a bracelet, a necklace and earrings for around 150 Egyptian pounds (26 dollars)," she said. Moreover, "these accessories have the great advantage of keeping their colour for around two years," said Riad, who also owns a shop in Khan al-Khalili. For young couples struggling to start a new life together, the arrival of Chinese gold has removed at least one obstacle to the costly traditions that surround marriage, including the dowry or "shabka". A groom is required to offer his bride a shabka of gold -- or diamond for those who can afford it -- in order to seal the marriage deal. This is in addition to him providing housing and furnishing a new apartment ahead of the wedding. "More and more young couples buy just the wedding bands in real gold and then they buy the rest of the accessories in Chinese gold to complete the shabka," said Riad. Even many of Cairo's more well-off residents have enjoyed the Asian import. "I bought Chinese accessories, I wear them often. They allow you to follow fashion trends without ruining your budget," said Faten Faltas, a stay-at-home mother from the affluent neighbourhood of Heliopolis. "When I wear them, people think it is gold, so why not?", she said. But Mohamed al-Felawi, who runs a well-known jewellery shop, snubs the Chinese import, saying that to sell it diminishes a jeweller's prestige. "I would never sell this so-called Chinese gold in my shops. As a jeweller, it would be a scam for me to sell Chinese gold," he said. Some clients say they can do both, buy Chinese gold for fun and leave real gold to more serious matters, like the shabka. "I bought earrings for 30 Egyptian pounds (five dollars), it's almost nothing and no one can tell that it's not real gold," said Sylvia Tamer, 43. But, she concedes, she would never allow her daughter to marry without having received a diamond shabka. Wasfi Wassef, who owns a jewelry shop in Khan al-Khalili selling real gold, said his business has been hurt by the new accessories on the scene, adding that the imports could be a health hazard. "It's not real gold. It's a mixture ... metals which go through a chemical treatment to get their golden colour, and this treatment can cause several allergic reactions," he said. But doctors say Chinese gold is no more dangerous than other fake jewelry. "Nickel can cause certain allergic reactions in people with sensitive skin. But nickel is found in many accessories, including the Chinese gold," said Ramzi Onsi, the head of the department of dermatology in the Ahmed Maher University Hospital. Recommend Send IM Story Print Related Articles Bollywood icon Khan offers new face of Indian cinema AFP - Saturday, August 14 US-ENTERTAINMENT Summary Reuters - Saturday, August 14 Eminem set to return to No. 1 on album chart Reuters - Saturday, August 14 Rookie TV shows have strong shot at Emmy glory Reuters - Saturday, August 14 Ryan Reynolds homes in on "Safe House" thriller Reuters - Friday, August 13 News Search Top Stories Energy costs send US consumer prices higher Germany drives record recovery as experts fear 'peak' Spain confirms timid economic recovery BP to pay 50 mln dlr fine for deadly 2005 Texas blast Germany posts record growth in second quarter More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended India threatens to ban Blackberry email, messaging US jobless claims jump to six-month high Visitors attack Taiwan 'haunted house' actors 'Rage against US' motivated Kampala bombing 'mastermind' GM profits surge past $1 bln as IPO looms More Most Viewed » Argentine students crack three-decade-old murder mystery 40 US billionaires pledge half wealth to charity Visitors attack Taiwan 'haunted house' actors World's first full face transplant man appears on TV Calcium supplements linked to heart attacks: study More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

Other News on Friday, 13 August 2010
Major powers drawing up framework for Mideast talks
Russia marks submarine loss under shadow of new tragedy
Facebook panic button prompts surge in abuse reports
Iran stoning woman tortured to confess on TV: lawyer
Boosted by big profit, GM preps for IPO with new boss
Cisco revenue climbs but profit disappoints
US jobless claims jump to six-month high
Iran stoning woman 'tortured' before TV 'confession'
Are the Iraqi security forces ready or not? |
'Rage against US' motivated Kampala bombing 'mastermind'
Australia working with US on WikiLeaks files
Suspect says rage at U.S. led him to plot Ugandan bombs |
Claims of Afghan civilian deaths spark protest
Four bullet-riddled bodies found in South African mine |
Staff at BAA airports vote to strike |
Many Americans don't want government to push fast Internet |
Tata Steel swings to quarterly profit, lags forecasts
India industrial output grows at slowest in 13 months
Credit Suisse gets green light for branch in India
China Mobile and Xinhua agree to set up search engine
Miner Vedanta in talks to buy Cairn India stake
Mahindra says MoU for Ssangyong takeover to be signed soon
Asia Naphtha-Taiwan Formosa buys more for Sept
Pakistan stocks end flat; floods bring prices worry
Japan PM voices concern over yen's 'rapid' rise
MTV video awards give Kanye West a second chance |
Aussie actors steal spotlight in Animal Kingdom |
Kelsey Grammer's girlfriend pregnant |
Fantasia released from hospital after overdose |
A Minute With: Eat Pray Love director Ryan Murphy |
WikiLeaks to continue releasing Afghan war files: Assange
Heavy rain and mudslides bring more misery to China |
US-TECH Summary
Germany posts record 2Q growth
Canada intercepts migrant ship on Pacific coast |
Brazil's surprise election issue: Iran
BP to pay 50 mln dlr fine for deadly 2005 Texas blast
Oracle sues Google over Android
Reclusive Myanmar to hold elections on November 7 |
India threatens to ban Blackberry email, messaging
Gates says Kim Jong-il's son seeks military stripes |
Italy's Molinari shares early lead at PGA Championship
Google denies selling out on 'net neutrality'
Boosted by big profit, GM preps for IPO with new boss
Oracle accuses Google of violating patents
Diseases pose new risks in Pakistan flood crisis |
Car bomb explodes in Bogota, in test for new president
Russians criticize Putin on corruption and oligarchs |
Chinese admiral says U.S. drill courts confrontation |
Google adds voice commands to Android smartphones
Once high-flying China official gets death sentence |
Lawyer's collapse halts Canadian's Guantanamo trial
New rain piles on misery for China flood survivors
Media watchdog slams Wikileaks' 'irresponsibility'
Foreigners boost insurgency in eastern Afghanistan
U.S. arrests Israeli linked to serial knife murders
Advertisers flocking to Facebook: eMarketer
S.Korea president pardons politicians, businessmen
India gives RIM until Aug 31 to yield on BlackBerry
Global minimum and maximum temperatures
WikiLeaks to continue releasing Afghan war files: Assange
Affidavit: Conn. shooter stole empty kegs, cases
Stabbing spree suspect nabbed before Israel flight
Judge keeps gay marriage on hold
India to target Google and Skype messaging next: report |
Kelsey Grammer's girlfriend pregnant
Oracle sues Google over Android |
US-ENTERTAINMENT Summary
Kirk Douglas "confused" about NY mosque plans
Paris Hilton to vigorously defend bad hair day
TV series "Glee" to get comic book treatment
Lindsay Lohan could see early release from rehab
Seoul shares rise 1.4 pct on techs, shipyards
'Cathy' comic strip comes to an end. AAACK!
Yen weak after Japan govt's 'verbal intervention'
Europe's biggest balloon festival takes flight
Chinese investors drop bid for AIA shares
Aussie actors steal spotlight in "Animal Kingdom"
Pakistan c.bank buys 22.15 bln rupees of govt paper
Kelsey Grammer's girlfriend pregnant
Offshore holdings of NZ govt debt fell in July-RBNZ
A Minute With: "Eat Pray Love" director Ryan Murphy
Korean Air posts record Q2 profit, fcasts Q3 growth
China mudslides highlight cost of rapid economic growth
Lindsay Lohan could see early release from rehab |
The Expendables eyes brawny box office debut |
WRAPUP 1-New Zealand data leaves market split over rate rise
Paris Hilton to vigorously defend bad hair day |
Ryan Reynolds homes in on Safe House thriller |
Seoul shares rise 1.4 pct on techs, shipyards
Idol judge Kara disappointed by Fox silence |
S.Korea T-bond futures steady on caution
NBC pulls Mad Men spoof after Emmy rivals irked |
Kirk Douglas confused about NY mosque plans |
Iran to fire up first nuclear power plant next week
Fires grow close to secret Russian nuclear site
Russia says to start up Iran Bushehr plant August 21 |
Russia says to start up Iran Bushehr plant Aug 21
Energy costs send US consumer prices higher
Germany drives record recovery as experts fear 'peak'
Optimistic on resolving India security concerns: RIM
Clinton prods Netanyahu on Mideast peace talks |
Spain confirms timid economic recovery
Germany releases suspected Israeli spy |
Iran to launch first nuclear power plant
Ten killed in Jamaica in outburst of gang violence |
Germany drives record recovery, but experts fear 'peak'
US nabs al-Qaida-linked militants in Afghanistan
Four charged over deaths of 800 Bosnian Muslims |
Death toll in Nigeria building collapse rises to 23 |
Gates: Congress hurting Afghan civilian aid effort
Russia to keep grain export ban, reap less in 2011 |
Canadians board Sri Lanka asylum boat
Three gunned down in Melbourne shootings
Guide says Stevens in good spirits before death
Prominent Tibetan sentenced to life in prison
Lawyers vary on contact between Marine, suspect
BlackBerry assures India on access to services: source |
Heavy rain and mudslides bring more misery to China
Bollywood icon Khan offers new face of Indian cinema
Eminem set to return to No. 1 on album chart
Vedanta seeks Cairn stake for $8.5 bln
Harvard tops Chinese university rankings
BlackBerry 'optimistic' it can avert India ban
Rookie TV shows have strong shot at Emmy glory
Myanmar junta announces November 7 election
Pakistani shares up; rupee firms; o/n rates down
Cross divides Poles on role of religion in public life
Diseases pose new risks in Pakistan flood crisis
Chinese businessmen accused of Filipino tax dodge
Rains leave 33 more dead in flood-ravaged China
Chinese 'gold' brings Egyptians a taste of little luxury
Korean Air shifts into red due to stronger won
Extinct mammoth tusks fill elephant ivory ban gap
Frustrated lefties can hope for liberated future
Yen eases as recovery concerns leave markets mixed
Ryan Reynolds homes in on "Safe House" thriller
Pakistan says won't divert forces from militant fight
"Idol" judge Kara "disappointed" by Fox silence
Jail for US pair in Thai film fest graft scandal
Paris Hilton to vigorously defend bad hair day |
Eminem set to return to No. 1 on album chart |
Rookie TV shows have strong shot at Emmy glory |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01