amwalalghad :: Industry & Trade

Your English Portal To Arab Economy

Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        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        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        Egyptians Housing Development    1.94        United Arab Shipping   0.43        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        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        National Real Estate Bank for    11.84        Egyptian Chemical Industries (   7.26        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

Hisham Ibrahim & Sanaa Allam - 2017-06-28 14:11:20
Egyptian Minister of Trade Tarek Qabil will sign an action plan next September with the International Islamic Trade Finance Corporation (ITFC), part of the Saudi Arabia-based lender Islamic Development Bank, aiming to boost Egyptian exports. A delegation from the Saudi Arabian ITFC is planning to visit Cairo at the end of next month to agree on the three-year action plan with the New Egyptian Export Development Authority with the participation of all parties concerned with exportation in Egypt, Minister Qabil said. During the visit, the ITFC and government authority will agree on the action plan to enhance Arab-African business relations, create new partnerships, and utilise business capacities in Africa, said Sherine Al-Shorbagi, CEO of the New Egyptian Export Development Authority.The Egyptian authority had recently held several meetings in Saudi Arabia with representatives of Islamic Development Bank, the Islamic Corporation for the Development of the Private Sector, the Islamic Corporation for the Insurance of Investment, and Export Credit (ICIEC) and ITFC, Al-Shorbagi added. More»
Amwal Al Ghad English - 2017-06-28 08:38:58
Egypt's exports totalled $5.1 billion in the second quarter of the financial year 2016/17, a rise on the $4.3 billion recorded during the same period of 2015/16, according to a Central Bank of Egypt’s (CBE) report published Sunday. The CBE report revealed significant increases in leading sectors, with petroleum and oil products recording exports of $1.4 billion during the second quarter of 2016/17. Meanwhile, finished products saw $2.5 billion in exports and semi-finished products recorded $882.4 million during Q2. According to the report, Egyptian exports to the US during the Q2 of 2016/17 totalled $356.6 million, with $1.7billion to Arab nations, $155.4 million to non-Arab Africa, $1.5 billion to the European Union, $454.7 million to non-EU European nations, $385 million to non-Arab Asia, and $483.3 million to other regions. The only recorded decrease in Egyptian exports was to Russia and the Commonwealth of Independent States, dropping from $52 million in Q2 of 2015/16 to $22.6 million in Q2 of 2016/17. Last March, Egypt’s trade and industry ministry revealed a strategy to almost double the nation's exports by the year 2020, from the current $19 billion to $34 billion. The strategy will include implementing new export plans and policies, as well as targeting new markets for cement, agricultural products, ready-made clothes, construction materials, chemical products, and engineering and electronic goods. In November 2016, the CBE floated the pound against the dollar in an attempt to rescue the country’s flagging economy. The move caused the pound to drop to an average exchange rate of 18 to the dollar, compared to 8.88 prior to the flotation. More»
Amwal Al Ghad English - 2017-06-22 15:26:43
American Airlines announced Thursday it recently received an unsolicited offer from Qatar Airways about the Middle Eastern airline's intention to acquire at least a 10 percent stake in American, a move that not many people could have predicted. The notice advised that state-owned Qatar intends to purchase at least $808 million in the U.S.-based airline following a conversation between the two companies' CEOs, which was initiated by Qatar Airways' CEO, Akbar Al Baker, American said in a statement. American Airlines has a market value of about $24 billion. Qatar has said it plans to make its stock purchase on the open market. American said that it will respond to the notice "in due course" with the appropriate filings required under the Hart-Scott-Rodino (HSR) Act. Qatar Airways has submitted a filing under the HSR Act, with respect to its potential investment in American Airlines common stock, the companies have confirmed. This news comes just weeks after Qatar was engulfed in a diplomatic row with neighbor Saudi Arabia, which led other nations including Egypt, the United Arab Emirates and Bahrain in cutting ties with Doha, Qatar's capital city. Qatar Airways is one of the Middle East's biggest airlines. Shares of American Airlines jumped more than 5 percent on this news Thursday morning. Meanwhile, other airline stocks, such as Southwest, Delta and JetBlue, also climbed higher following this announcement. American has noted that there are foreign ownership laws that limit the total percentage of foreign voting interest in its business to 24.9 percent. American also said the company prohibits anyone from acquiring 4.75 percent or more of its outstanding stock without advance approval from the board, following a written request. As of Thursday, American's board had not received any such request. "While this move may be legal, it is not only odd but certainly inappropriate," said Capt. Dennis Tajer, spokesman for the Allied Pilots Association, which represents American pilots. "We take this as financial aggression. It runs completely against the fiber of American Airlines and must be looked at as more than just a simple investment." A representative from Qatar didn't immediately respond to a request for comment, and American declined to comment beyond what was in its Thursday press release. This news might come as a surprise because American's CEO, Doug Parker, has been extremely vocal in blasting Gulf carriers, like Qatar, arguing they receive subsidies and have potentially hurt U.S. carriers as a result. He is known for being one of the most outspoken CEOs in the industry, calling the playing field uneven with unfair government subsidies involved. A deal like this, though, couldn't be stopped by Parker, so long as Qatar doesn't exceed the 24.9 percent ceiling. In recent months, Qatar Airways has been seen scooping up stakes in several other airlines, including South America's LATAM Airlines Group and Italy's Meridiana. Qatar is already the largest shareholder in British Airways' parent, International Consolidated Airlines Group SA, and British Airways is a close partner with American. "The proposed investment by Qatar Airways was not solicited by American Airlines and would in no way change the Company's Board composition, governance, management or strategic direction," American said in a statement. "It also does not alter American Airlines' conviction on the need to enforce the Open Skies agreements with the United Arab Emirates and the nation of Qatar and ensure fair competition with Gulf carriers, including Qatar Airways. American Airlines continues to believe that the President and his administration will stand up to foreign governments to end massive carrier subsidies that threaten the U.S. aviation industry and that threaten American jobs." American and Qatar share at least one thing in common already, both being members of the Oneworld marketing alliance. This partnership allows passengers of these airlines to earn and redeem points on each company's flights. According to March and April filings with the Securities and Exchange Commission, American had five shareholders above the 4.75 percent threshold, including Warren Buffett's Berkshire Hathaway, which has a 10 percent stake. More»
Mahmoud Shaaban - 2017-06-22 12:49:16
Egypt has accepted five foreign firms’ bids for seismic survey of the Red Sea area worth a total investment of up to $750 million, the Ministry of Petroleum said on Wednesday. Egypt’s state-owned Ganoub El-Wadi Petroleum Holding Company (Ganope) launched six months earlier an international tender for seismic survey of the Red Sea area. The seismic survey is designated to produce detailed images of local geology to determine the location and size of possible oil and gas reservoirs. The Petroleum Ministry intends to put the Red Sea area on the map of oil and gas exploration investments, Oil Minister Tarek el-Molla said on Wednesday. More»
Hisham Ibrahim & Sanaa Allam - 2017-06-22 11:56:58
The six-nation Gulf Cooperation Council and Turkey have approved to exempt Egypt’s exports from iron and tire export protective tariffs, Egyptian Industry and Trade Minister Tarek Qabil said Thursday. The exemption, according to Qabil, will ensure that Egypt would continue the presence of their exports in the GCC and Turkish markets as well as boost their competitiveness. More»
Amwal Al Ghad English - 2017-06-22 09:38:47
State-owned Alexandria Mineral Oils Company (AMOC) said Thursday that it seeks to achieve profits worth 575.2 million Egyptian pounds ($31.8 million) in the estimated budget within the financial year 2017/2018.Earlier, profits climbed to 652.4 million pounds in the financial year 2016/2017. The company also plans to increase revenues to 10.3 billion pounds within  FY2017/2018, while revenues stood at 7.6 billion pounds during FY2016/2017. More»
Amwal Al Ghad English - 2017-06-22 08:00:30
The British International Investment Funds Association said it would inject $400 million into direct investment to finance a new power station in the Suez Canal area. Additionally, Rockhopper, the international oil and gas exploration company, said it would inject $100 million in the field of oil and gas exploration in Egypt. HSBC, the British multinational banking and financial services holding company, has meanwhile confirmed that Egypt is one of the most important growth markets in the world and reiterated commitment to its long-term investment plans in Egypt. The statements were made during a meeting between Minister of Investment and International Cooperation Sahar Nasr and a number of leading British companies investing in Egypt. More»
Amwal Al Ghad English - 2017-06-22 07:49:13
The Ministry of Investment and International Cooperation signed an agreement with the United Nations Development Programme (UNDP) to establish Egypt’s first Development Investment Support Fund with a target capital of $50 million. The fund will be jointly funded through the newly established Egypt Entrepreneurship Company and the UNDP, minister Sahar Nasr said in a statement on Wednesday. Nasr explained that the first task of the investment fund will be establishing a startup incubator, supporting development projects, and encouraging investments that contribute to decreasing the poverty rate, creating jobs, and increasing investments in renewable energy. The UNDP will provide advisory services for the startup incubator, and provide special technical assistance, including promotional offers, training, and the organisation of conferences, according to the statement. Nasr explained that startups will be motivated through the creation of market incentives that allow competition, supporting small investors, providing technical training to investors, and linking them to the external market. More»
Sanaa Allam - 2017-06-21 18:51:09
Egyptian steel manufacturer El-Garhy Steel Group says it plans to inaugurate two plants for steel billets and rolling mills production in Suez at the end of 2018. Located in Ataqa Industrial Zone in Suez, the two plants are with investment costs worth 3.6 billion Egyptian pounds ($198 million). As for the first plant, El-Group seeks to produce around 1.2 million of steel billets annually, chairman Gamal El-Garhy told Amwal Al Ghad on Tuesday. The second plant will have a production capacity of around 500,000 tonnes of steel rolling mills annually, El-Garhy said. More»
Mahmoud Shaaban - 2017-06-21 17:59:27
Royal Dutch Shell Plc is planning new investments in Egypt’s petroleum sector, given that the country enjoys numerous investment opportunities in oil and gas sectors. The new announcement was made following a meeting between Egyptian Petroleum Minister Tarek el-Molla, Sami Iskander, Executive Vice President for Shell Egypt, and Gasser Hanter, Vice President Upstream, Country Chair, and Managing Director for Shell Egypt. More»