amwalalghad :: Industry & Trade

Your English Portal To Arab Economy

Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Pioneers Holding   2.84        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Universal For Paper and Packag   4.94        Egyptian for Tourism Resorts   0.69        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        Heliopolis Housing   21.65        Raya Holding For Technology An   4.57        United Housing & Development   8.93        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        Six of October Development & I   15.03        National Development Bank   6.72        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Credit Agricole Egypt   9.04        Palm Hills Development Company   1.61        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        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        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        Cairo Poultry   8.32        ARAB POLVARA SPINNING & WEAVIN   2.11        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        Prime Holding   0.91        Al Arafa Investment And Consul   0.17        Alexandria Spinning & Weaving    0.74        Gharbia Islamic Housing Develo   8.41        General Company For Land Recla   16.6        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 - 2018-02-24 12:44:25
Egypt’s economic growth rate registered 5.3 percent during the second quarter of the current fiscal year (FY) 2017/2018, Minister of Planning Hala El-Said said Wednesday during a press conference. The economic growth rate has recorded 5.2 during the first quarter of the current fiscal year (FY) 2017/2018. The growth rate reached 35 percent at a string of sectors such as extractive sector, real-estate, construction and manufacturing. The total investments have posted 95 billion Egyptian pounds recording a growth of 86 percent, the minister added.on the other hand, : Egypt’s Trade Deficit declined 15.7 percent year-on-year in the first half of fiscal year 2017/18, dropping from $21.7 billion to $18.3 billion. More»
Hisham Ibrahim, Sanaa Allam - 2018-02-24 10:13:14
Egypt has succeeded in the  4th Policy Trade Review conducted by the World Trade Organization (WTO) according to  Trade and Industry Minister Tarek Qabil. Qabil presented Egypt’s trade policies and economic reform programme on Tuesday at Egypt’s 4th Policy Trade Review meetings in Geneva. He conserving the global trading system and preventing unfair protective measures in international trade, the ministry said. Egypt is a founding member of the WTO and an active member of the General Agreement on Tariffs and Trade (GATT), an agreement Egypt signed in 1970 to promote international trade by reducing trade barriers. More»
Amwal Al Ghad English - 2018-02-24 07:19:44
The Egyptian minister of petroleum Tarek el-Molla announced that the agreement with the European Union to establish a gas pipeline between Egypt and Cyprus will be finalized by mid-year. Egypt aims to become a regional energy hub, and is seeking further cooperation with the Europe, the minister noted. Egypt has also agreed to transport crude oil and gas from Iraq, through Jordan, the minister noted. More»
Amwal Al Ghad English - 2018-02-24 07:15:47
Egypt’s strategic rice reserves are enough to last until the end of April, Supply Minister Ali Moselhi said in a statement on Thursday. The minister has agreed to double the quantities of rice the government purchases from local suppliers and offer them 6,100 Egyptian pounds ($345) per tonne, the statement said. More»
Amwal Al Ghad English - 2018-02-22 10:40:03
The net profits of Egypt’s Delta Company for Printing and Packaging increased to five million Egyptian pounds ($282,300) during 2017, announced financial statements on Thursday. Earlier, profits earlier stood at 387,000 pounds during 2016. Delta Company for Printing and Packaging was established in 2004 in Borg El-Arab City, 60km (37.3 miles) away from southwest of Alexandria. It is engaged in the manufacture of packaging materials. The Company is active in producing, manufacturing, printing packaging, and wrapping materials, notably cardboard, paper, plastic and multi-layer materials. More»
Amwal Al Ghad English - 2018-02-22 07:04:17
Egypt's cotton exports dropped by 36.7 percent in the first quarter of the agricultural season of financial year 2017/2018 (September to November 2017), said the county's stat-run statics agency CAPMAS on Wednesday. Total cotton exports amounted to 128,300 metric quintals in first quarter of financial year 2017/2018, compared to 202,500 metric quintals in the corresponding period last year, the CAPMAS further added. The state-run statistics agency last said that cotton exports of the North African nation dropped 38.4 percent in fourth quarter of the current financial year (June to August 2017) to 86,200 metric quintals, versus 139,900 metric quintals in the same period of 2016. More»
Amwal Al Ghad English - 2018-02-22 06:56:49
Egypt's President Abdel Fattah al-Sisi said on Tuesday that the dream to turn Egypt into a regional energy hub is becoming a reality, referring to a number of gas deals recently signed in the country. The president made the comments while opening a number of investor service centres across the country. Sisi commented on the controversial $15 billion gas deal brokered between two Israeli companies and private Egyptian company Dolphinus, saying that Egypt has "nothing to hide about this deal." "Egypt is now one of the few countries in the Mediterranean region that owns facilities fully capable of providing all oil-related services," Sisi said, adding that Egypt will use these facilities to liquefy the imported gas for later export or for use in industry. Sisi said that Egypt has developed these facilities before other countries in the region like in Lebanon, Israel, Cyprus and Turkey, which will allow Egypt to benefit by having oil from Mediterranean countries liquefied in Egypt. "We had to take advantage of this opportunity to attract Cypriot, Lebanese and Israeli gas in preparation for liquefaction and export," he said. "We scored a goal," Sisi said in Egyptian colloquial slang, referring to the recent gas deals and other achievements in the gas sector, though he stressed that these agreements are reached by the private sector and not the state. On Monday, two Israeli companies–Tamar and Leviathan– signed the deal with the Egyptian private company Dolphinus to sell gas to Egypt worth $15 billion. The two Israeli companies will export as much as 64 billion cubic metres of natural gas to Egypt over 10 years. "Egypt will benefit financially from this process on a very large scale, now all the gas in the region is coming to us to be exported," Sisi said, adding that he is "happy" with the interest Egyptians have shown over the past few days over the gas situation in the country. Sisi affirmed that Egypt has taken another step towards becoming a regional energy hub, which will have "many benefits." "I know people may ask how is it that we have just inaugurated the Zohr gas field to achieve self-sufficiency, but we are still exporting gas from other countries, but I assure you we are doing this according to market mechanisms," El-Sisi said, referring to the super-giant Zohr gas field in the Mediterranean, which Egypt hopes will help it achieve its goal of self-sufficiency in the supply of liquefied natural gas (LNG). Production from the field is expected to increase to 1 billion cubic feet per day (bcfd) by June 2018, marking the end of the first production stage and granting Egypt self-sufficiency in LNG supply. The second stage of production from the field is due to be finalised by the end of 2019 when production reaches 2.7 bcfd. The Zohr, North Alexandria and Noras fields are expected to increase Egypt's natural gas output by 50 percent in 2018 and 100 percent in 2020, the Ministry of Petroleum said in October. The country passed a new natural gas law last year that allows for competition in the market by granting licenses to import gas for private companies. More»
Amwal Al Ghad English - 2018-02-21 11:57:46
Sewedy Electric Engineering and Trade, a subsidary of El Sewedy Electric Co, has signed a KWD 5.5 million ($18.4 million) to implement a lighting system in Kuwait. Upon the contract, Sewedy Electric Engineering, in which Elsewedy Electric holds a 49% stake, will upgrade and install lighting systems in the streets of the wealthy Gulf state, in addition to managing the central lighting power, according to a statement to the Egyptian Exchange (EGX) on Wednesday. The project is set to be carried out 24 months, and construction is expected to commence in March 2018, the company indicated. Elsewedy Electric’s capital amounts to 2.18 billion Egyptian pounds distributed over 218.4 million shares at a par value of EGP 10 per share. More»
Amwal Al Ghad English - 2018-02-21 06:53:44
Egypt’s petroleum ministry responded on Monday to news of a massive gas deal between Egyptian private company Dolphinus and Israeli gas firms, saying it makes "no comment on negotiations or deals involving private sector companies over importing or selling natural gas." In press statements on Monday evening, Egypt’s petroleum ministry spokesman Hamdy Abdel Aziz said the ministry would deal with any permit or license requests by the private sector in accordance with applicable regulations, in light of Egypt’s strategy of becoming a regional hub for energy. He added that the government has been taking measures to liberalize the natural gas market, putting in place a regulatory framework that allows private companies to use the national gas grid to trade within approvals and requirements laid down by the Gas Market Regulatory Authority. The statements come hours after Israel's Delek Drilling company announced that Egyptian private company Dolphinus is set to import gas from Israel worth $15 billion, pending regulatory approval from both countries. The partners in Israel’s Tamar and Leviathan natural gas fields, led by Israeli firm Delek and Texas-based company Noble, signed two deals on Monday to sell gas to Egyptian gas trading company Dolphinus over a ten-year period. Total revenues from the Tamar and Leviathan projects are estimated to be $7.5 billion each. The total quantity of gas contracted in the Leviathan and Tamar agreements is approximately 32 billion cubic metres (bcm) for each agreement, which corresponds to up to 3.5 bcm per year. Israel hailed the agreement, announcing it as a "historic" one, in statements by Israeli Prime Minister Benjamin Netanyahu. Egypt has repeatedly affirmed its aim of becoming a regional energy trading hub, especially following new gas discoveries and a new natural gas law last year that allows for competition in the market by granting licenses to import gas for private companies, ending a state monopoly on the sector. In December, petroleum minister Tarek El Molla said that Egypt will achieve self-sufficiency in natural gas before the end of 2018. Mammoth gas gield Zohr and the North Alexandria and Nooros fields are expected to increase Egypt's natural gas output by 50 percent in 2018 and 100 percent in 2020, the Ministry of Petroleum said in October. More»
Amwal Al Ghad English - 2018-02-21 06:49:56
The amendments passed by Egypt’s parliament last week to the Capital Markets Law are credit positive for banks, announced credit rating agency Moody’s in a report on Monday. The agency says the amendments make the country more appealing for foreign investors, highlighting the “facilitation of sukuk issuance [bonds that generate returns in a way that complies with Islamic Sharia] and investors’ ability to hedge.” A hedge is an investment that reduces the risk posed by an asset’s price changes, such as using futures contracts. Futures contracts are used to hedge risks, as they consist of two parties agreeing to trade an asset at a time in the future at a determined price. Amendments to the law include the introduction of futures trading, a commodities exchange, increasing penalties for financial crimes, establishing privately-owned stock exchanges, and the reduction of listing fees to 0.002% from 0.005% to help small and medium enterprises find new sources of funding by listing on exchanges. “The amendment is credit positive for banks because the increased capital markets activity will raise banks’ income from their debt capital markets business while also providing funding options,” Moody’s said. The main sources of funding for banks are deposits, which represented 71% of non-equity liabilities for banks as of last October. “Furthermore, the income banks earn from their debt capital markets activity will increase, diversifying their operating income, which is heavily reliant on interest income earned from investment in government bonds,” the report reads. “As of October 2017, government bill and bond investments accounted for 31% of banking system assets and contributed more than 41% to banks’ interest income,” the report adds. The law is expected to boost the competitiveness of Egypt's economy and to support the non-banking financial sector to achieve financial inclusion, Investment Minister Sahar Nasr said last week. Moody’s had affirmed in Egypt's long-term issuer and senior unsecured bond ratings at B3, maintaining a stable outlook, last August. Egypt’s rating has been unchanged since then, given the country's high debt levels. More»