amwalalghad :: Industry & Trade

Your English Portal To Arab Economy

GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Orascom Telecom Holding (OT)   3.92        Rakta Paper Manufacturing   4.39        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        Misr Chemical Industries   5.65        Egyptians Housing Development    1.94        United Arab Shipping   0.43        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Egyptian for Tourism Resorts   0.69        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Heliopolis Housing   21.65        United Housing & Development   8.93        Raya Holding For Technology An   4.57        International Agricultural Pro   2.1        Gulf Canadian Real Estate Inve   18.08        Alexandria Pharmaceuticals   45.71        Arab Cotton Ginning   2.46        Egyptian Chemical Industries (   7.26        National Real Estate Bank for    11.84        National Development Bank   6.72        Six of October Development & I   15.03        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Palm Hills Development Company   1.61        Credit Agricole Egypt   9.04        Remco for Touristic Villages C   2.13        Commercial International Bank    29.87        El Ezz Porcelain (Gemma)   1.9        Egyptian Starch & Glucose   5.4        Arab Real Estate Investment (A   0.41        South Valley Cement   3.12        Citadel Capital - Common Share   2.5        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Sharkia National Food   3.78        Egyptian Transport (EGYTRANS)   7.85        El Kahera Housing   4.97        El Shams Housing & Urbanizatio   2.45        Egyptian Kuwaiti Holding   0.7        ARAB POLVARA SPINNING & WEAVIN   2.11        Cairo Poultry   8.32        Egyptian Financial & Industria   8        T M G Holding   4.03        Asek Company for Mining - Asco   10.66        Misr Hotels   27        Egyptian Electrical Cables   0.56        Medinet Nasr Housing   22.51        Mena Touristic & Real Estate I   1.21        ELSWEDY CABLES   18        Al Arafa Investment And Consul   0.17        Prime Holding   0.91        Alexandria Spinning & Weaving    0.74        General Company For Land Recla   16.6        Gharbia Islamic Housing Develo   8.41        Alexandria Cement   8.9        Arab Valves Company   0.94        Sidi Kerir Petrochemicals   12.4        TransOceans Tours   0.09        Egyptian for Developing Buildi   6.43        Egyptian Gulf Bank   1.24        Kafr El Zayat Pesticides   18.19        Faisal Islamic Bank of Egypt -   35.1        National company for maize pro   11.86        Delta Construction & Rebuildin   4.03        Zahraa Maadi Investment & Deve   48.25        Samad Misr -EGYFERT   3.52        Egypt for Poultry   1.41        Cairo Development and Investme   11.7        Cairo Pharmaceuticals   20.1        Maridive & oil services   0.9        Suez Canal Bank   3.75        Nile Pharmaceuticals   15.81        The Arab Dairy Products Co. AR   73.85        National Housing for Professio   14.39        El Ahli Investment and Develop   4.87        Egyptian Saudi Finance Bank   10.79        Ismailia National Food Industr   5.16        National Societe Generale Bank   25.52        Acrow Misr   19.16        Alexandria Mineral Oils Compan   63.63        Paper Middle East (Simo)   5.59        Egypt Aluminum   12.31        Giza General Contracting   13.12        Middle Egypt Flour Mills   5.82        Extracted Oils   0.6        Assiut Islamic Trading   4.56        Engineering Industries (ICON)   3.95        North Cairo Mills   15.3        Arab Pharmaceuticals   11.88        Grand Capital   5.38        El Ahram Co. For Printing And    10.68        Minapharm Pharmaceuticals   25.49        El Arabia Engineering Industri   13.52        El Nasr For Manufacturing Agri   9.71        Naeem portfolio and fund Manag   1.7        Faisal Islamic Bank of Egypt -   6.76        Natural Gas & Mining Project (   68.26        Housing & Development Bank   13.95        East Delta Flour Mills   31.5        Orascom Development Holding (A   3.22        Memphis Pharmaceuticals   11.12        Abou Kir Fertilizers   134.23        Delta Insurance   5        Cairo Investment & Real Estate   12.18        Cairo Oils & Soap   12.98        Egyptian Arabian (cmar) Securi   0.36        Egyptian Real Estate Group Bea   15.56        Alexandria Containers and good   85.51        Upper Egypt Flour Mills   45.78        Development & Engineering Cons   9.94        Sinai Cement   15.18        Medical Union Pharmaceuticals   28.01        Torah Cement   24.2        Alexandria New Medical Center   46.55        Export Development Bank of Egy   5.04        Egyptian Company for Mobile Se   92.02        Middle & West Delta Flour Mill   32.7        El Kahera El Watania Investmen   4.18        Mansourah Poultry   12.41        Delta Sugar   11.04        Misr Beni Suef Cement   41.21        Egyptian Satellites (NileSat)   6.14        Cairo Educational Services   17.75        Lecico Egypt   7.55        Sharm Dreams Co. for Tourism I   5.3        General Silos & Storage   10.77        Al Moasher for Programming and   0.66        UTOPIA   5.28        Arab Ceramics (Aracemco)   25.4        Barbary Investment Group ( BIG   0.98        

Investment - Industry & Trade

Amwal Al Ghad English - 2016-12-08 14:32:48
The Organization of Arab Petroleum Exporting Countries’ (OAPEC) Executive Bureau will hold Thursday its 146th meeting in Cairo for two days. Sheikh Talal Nasser Al Athbi Al Sabah, Kuwait’s Representative at the Executive Bureau and Acting Undersecretary at Kuwait’s Oil Ministry, will chair the meeting. Kuwait heads OAPEC’s current round 2016. OAPEC Executive Bureau has held its 145th meeting in Kuwait during October 16-17, in which officials discussed several topics including the organisation’s budget scheme for 2017. OAPEC was founded on the basis of the agreement signed in Beirut, Lebanon on 9 January 1968 between the governments of Kingdom of Saudi Arabia, the State of Kuwait and the (then) Kingdom of Libya. The principal objective of the Organisation is the cooperation of the members in various forms of economic activity in the petroleum industry, the determination of ways and means of safeguarding the legitimate interests of its member countries in this industry, individually and collectively, the unification of efforts to ensure the flow of petroleum to its markets on equitable and reasonable terms, and providing appropriate environment for investment  in the petroleum industry in  member countries. The OAPEC includes 11 members; Egypt, UAE, Bahrain, Saudi Arabia, Algeria, Syria, Iraq, Qatar, Kuwait, Libya, and Tunisia. More»
Amwal Al Ghad English - 2016-12-08 13:43:11
Egyptian authorities have arrested Thursday the managing director of the country’s government tourism arm, the Egyptian General Company for Tourism and Hotels (EGOTH) on charges of soliciting one million Egyptian pound-bribe. The EGOTH official was arrested at Marriott Hotel in Zamalek district early Thursday after receiving a bribe over a construction deal involving a foreign company operating in the country, sources familiar with the matter revealed. The Egyptian authorities followed an internal investigation to catch the EGOTH official in the act, the sources added. EGOTH is a subsidiary of the Holding Company for Tourism, Hotels and Cinema (HOTAC), one of the region’s largest hotel-owning companies that work with many leading hotel brands and owns a large inventory of land in prominent locations in Egypt for Tourism and establishing and developing Hotels . EGOTH owns five historic hotels and nine contemporary hotels in prominent locations across Egypt, according to the company’s official website. More»
Amwal Al Ghad English - 2016-12-08 11:13:54
Royal Dutch Shell has appointed Gasser Hanter to head its Egypt business, the company announced in a statement on Thursday. Hanter, who is Egyptian, was named as upstream vice-president and managing director in Egypt. He replaces Aidan Murphy, who has taken on a new role at Shell headquarters, according to Reuters. On July 1st 2014, Gasser Hanter was appointed as Shell’s Senior Government Relations Advisor for the Middle East and North Africa Region. Hanter began his career with Shell Egypt in 1993 and held various leadership roles in downstream, midstream and upstream. He started working on Iraq in 2008 and was the Country Chairman for Shell in Iraq overseeing the different Shell businesses in Country and was also double hatting as the Commercial Manager and lead negotiator on the Basrah Gas Company which is a Joint Venture between South Gas Company representing the Iraqi Government, Shell and Mitsubishi. Ultimately, Gasser was appointed the Basrah Gas Company Managing Director after its inception in May 2013. Previous roles include Managing Director of Fayoum Gas Company; a Gas Distribution Company in Egypt, Managing Director for Shell CNG Egypt, Gas Manager for Egypt and Syria, numerous board positions within different Shell Joint Ventures, in addition to several Project management and Business development roles. Originally from Cairo, Egypt, Hanter holds a degree in Mechanical Engineering and is married with three Children. More»
Amwal Al Ghad English - 2016-12-08 10:35:22
Russia's agriculture safety watchdog Rosselkhoznadzor announced Thursday that 18,000 tonnes of Russian wheat, seized by Egypt at an Alexandria port in November, had passed quarantine checks successfully. Egyptian prosecutors seized the wheat from a storage site belonging to a private company in Dekheila port after finding it unsuitable for human consumption. Rosselkhoznadzor sent a request to Egypt after media reports of the seizure, it said in a statement on Thursday. "According to Egypt's Central Administration of Phyto Quarantine, the 18,000 tonnes of Russian wheat, mentioned in the reports, arrived at Alexandria on July 15 and was checked by representatives of Egypt's competent authorities the other day," the Russian watchdog said. The cargo received the approval that its quality met the phytosanitary requirements and its release was approved, the watchdog added. "Thus, reports about the detention of a Russian wheat cargo are unfounded." Cairo-based traders told Reuters in November the shipment was seized after a large quantity of insects was found in the storage site. Egypt's agriculture ministry declined to comment on Thursday as an investigation by prosecutors was still ongoing. More»
Amwal Al Ghad English - 2016-12-08 08:49:52
Analysts expect OPEC’s recent oil production cuts will revitalise maritime movement through Egypt’s waterway Suez Canal, leading to an increase in its revenues, which have been negatively affected in the past year. The Organization of Petroleum Exporting Countries (OPEC) agreed last week to its first production cuts since 2008, according to Bloomberg, sending benchmark Brent crude prices to top $50 per barrel. The move went beyond the group to include Russia as well, which agreed to cut its own output. S&P Global Platts which focuses its research on energy said in a report that despite higher crude prices being a negative on the surface for net importer Egypt, “the Arab world’s most populous country hopes OPEC’s move..will actually breathe life into the moribund traffic in its Suez Canal and provide badly needed foreign currency.” Senior Economist at Arqaam Capital Reham al-Dosouky told Aswat Masriya that as oil prices increase, shipping costs also increase, prompting some companies to reduce that cost by taking shorter maritime routes. Sailing through the 164-km Suez Canal can knock 11 days off a typical intercontinental voyage for which the alternative route would normally be around the Cape of Good Hope, according to Platts. Since 2014, a “market slump” for oil and gas had resulted in less than anticipated revenue from shipping through the Suez Canal. Suez Canal revenue was down 7 percent in October compared to the same month last year, data on the state's information websites showed. President Abdel Fattah al-Sisi inaugurated an $8 billion expansion of the Suez Canal in August 2015 that aimed to double daily traffic and increase annual revenue to more than $13 billion by 2023. The national mega-project was hailed as a major success by the government for its quick completion and its highly anticipated effect on revenues. However, much depends on the global trade levels in the upcoming year, according to al-Dosouky. The World Trade Organisation (WTO) projected global trade to increase by 1.8 to 3.1 per cent next year affected by a five-year slowdown. Platts maintains however that revenue has a long way to climb before it reaches the 2023 target figure, forecasted by Suez Canal Authority Chairman Mohab Mameesh, adding it could backfire if the project does not soon start showing signs of fulfilling its potential. Eman Negm, Macroeconomic Analyst at Prime Holding told Aswat Masriya that only a slight increase in Suez Canal revenue is expected because much depends on the calculations made by the companies whose ships pass through the canal. Crude prices could stabilise at $60 to $70 per barrel in the coming period, according to Negm. Egypt’s Sisi administration must have breathed a collective sigh of relief after OPEC's decision, according to the Platts report. The country has strived to make up for a foreign currency shortage that has gripped the economy affecting imports and pushing up inflation rates. Egypt has pressed ahead with a reform programme that has seen it abandon its currency peg, cut subsidies and introduce a value-added tax. The measures helped Egypt secure a $12 billion three-year loan from the International Monetary Fund last month. It has already received the first $2.75 billion IMF instalment, helping push foreign reserves above $23 billion in November. More»
Hisham Ibrahim - 2016-12-07 18:06:54
General Motors Egypt announced Wednesday signing a new alliance agreement with MCV Group to manufacture several mini buses to be exported to some African markets. The alliance will enable General Motors Egypt to carry out plans to open up new export markets in Ghana, Vietnam, and South Africa, the company added in a statement. General Motors Egypt further said that it has recently exported parts of bumpers and fender-benders of pickup trucks to Vietnam alongside some chassis to South Africa. According to the agreement, General Motors Egypt will cooperate with MCV Group to manufacture and export mini bus fleet for public transport to Ghana within the third quarter of the current financial year. More»
Amwal Al Ghad English - 2016-12-07 13:42:15
The number of Danish firms operating in Egypt has reached 149, head of the Egyptian investment authority GAFI said Wednesday. Mohamed Khodair, chairman of Egypt’s General Authority for Investment and Free Zones (GAFI), further said that the 149 Danish firms are with total capitals of around $169.3 million.In a meeting with Denmark’s Ambassador to Cairo Susanne Shine, Khodair added that Denmark ranks 34th position in terms of the countries investing in Egypt. A delegation of prominent Danish firms operating in Egypt has attended the meeting. Those firms are active in several strategic sectors in Egypt including pharmaceutical, food, farming, and information technology industries.Khodair referred that GAFI and the Ministry of Investment are keen on meeting with all the investors and business community in order to discuss their projects and give support to them by solving any obstacles would face them. More»
Amwal Al Ghad English - 2016-12-06 14:52:48
Egypt's trade exchange with Slovenia  grew by 12 percent in 2015 to record around €161 million, Trade Minister Tarek Qabil stated Tuesday. Egypt-Slovenia trade exchange soared by 344 percent since signing the EU-Egypt Association Agreement in 2004, the minister stated, adding that this increase reflects the deep trade ties between Egypt and Slovenia. Qabil made these remarks during his speech at the Egyptian-Slovenian business forum held Tuesday with the attendance of Slovenian President Borut Pahor, Slovenian Infrastructure Minister, Peter Gašperšič, members of the Slovenian mission visiting Egypt, in addition to representatives of Egyptian and Slovenian business societies. Minister Qabil clarified that Egypt's agreement with the International Monetary Fund (IMF) reflects  global society's trust in decisions made by Egypt's government towards the economic reform. More»
Mahmoud Shaaban - 2016-12-06 12:55:14
Egypt’s Complete Energy Solutions Company (CES) has attained income worth 50 million Egyptian pounds ($2.8 million) after implementing two solar power plants in Siwa Oasis and Red Sea governorate. Speaking to Amwal Al Ghad, Mohamed El-Haddad, CES Business Development Team Leader, announced Monday that his company has concluded establishing solar plant in Siwa with total capacity of 10 megawatts.El-Haddad said that his company also completed a project with capacity estimated at 14 megawatts in the Red Sea, Marsa Alam, Shalateen, and Abu Ramad.In addition, CES ended up implementing the first solar plant connected to national electricity grid in Toshka for a private sector firm, El-Haddad added.Complete Energy Solution is expected to achieve income of 150 million Egyptian pounds during the second half of 2017 due to executing a number of projects within the current period. More»
Enas Shaaban - 2016-12-06 12:21:28
Slovenian President Borut Pahor inaugurated Tuesday the second Egypt-Slovenia Business Forum  in the attendance of Egyptian Trade Minister, Tarek Qabil and International Cooperation Minister Sahr Nasr. A delegation encompassing leaders of largest holding Slovenian firms participated in the forum as well as Slovenian ministers and heads of concerned firms working in investment and trade fields. Ahmed El-Wakeel - Head of Federation of the Egyptian Chambers of Commerce (FEDCOC)- stated that the second forum builds up on the success of the first round that led to boost trade exchange and joint investments. Slovenian firms target investing in Egypt besides cooperating with Egyptian firms in manufacturing, the chairperson added. El-Wakeel clarified that Slovenian participants firms are working in different sectors notably: financing, engineering industries, food, pharmaceuticals, energy, construction, tourism, agriculture, oil, gas, and mining. More»