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        United Arab Shipping   0.43        Egyptians Housing Development    1.94        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        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        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 - 2017-08-19 09:31:13
Egyptian Transportation Minister, Hesham Arafat, said Friday that the government has no plans to privatize the railway system, adding that the private sector will only participate in improving service, and developing the facilities of the Egyptian Railway Authority. In statements to Al-Masry Al-Youm, Arafat said he is currently preparing a bill to amend the Railway Law to aid in the overall reform process carried out by the government, in the 166-year-old facility. “The railway is a business, not just a service institution, so it is required to make profits and this will not be achieved with the current situation. The railway will be developed under President Abdel Fattah al-Sisi, who gave us all his support, and called for the acceleration of comprehensive developments, for the neglected sector, over the past four decades, both in the infrastructure sectors and electrification of signs or mobile units and maintenance for service,” Arafat added. The minister added that new engines will be delivered to Egypt by 2019, and that there is an urgent maintenance plan for engines currently in service in need of urgent spare parts. Arafat held a five-hour meeting on Thursday evening with some of the train conductors along with leaders of the Transportation Ministry and the General Union of Railways. During the meeting, the minister listened to proposals to regulate the safety and security of operation amid the difficult conditions in which drivers operate, in light of the aging engines, railway cars and signaling systems. Arafat pointed out that he ordered the formation of a technical committee to review the technical conditions of the automatic control systems of both the engines and lines, particularly the Beni Suef-Giza line. He added that all efforts should be made during the next period to provide good service for passengers, especially with coming of Eid al-Adha, and that all faculty of the facility will undergo development and training in the railway systems and the availability of spare parts urgently. More»
Amwal Al Ghad English - 2017-08-19 09:01:02
Gold supply from mines has dropped "dramatically" this year, bolstering prices of the safe-haven asset in the face of geopolitical tensions, ANZ stated in a note Thursday. "Growth in mine output is at its lowest point since the financial crisis, with risks only getting greater," wrote ANZ's senior commodity strategist, Daniel Hynes. Gold production has fallen 2 percent in the first five months of 2017 from the same period a year ago, Hynes added, citing data from the World Bureau of Metal Statistics. Production in the month of May alone was down 3.1 percent from a year ago. Changing government policies in producing countries are creating uncertainties and hitting supply, said Hynes. In Indonesia, the government introduced new mining and export permits, prompting Freeport to shut its Grasberg mine, one of the largest gold mines in the world, which produced about 2 percent of world's gold mine supply at its peak. In Tanzania, uncertainty is rising after authorities announced a major change to its resource policy which includes an increase in royalties to the government. In another large producer, South Africa, a revamp of its mining charter may require miners to make changes to the ownership of mining companies. "With investment conditions remaining subdued, it's unlikely we will see any rebound in mine supply in the foreseeable future," Hynes added. Meanwhile, consumer demand is improving. According to the World Gold Council, total bar and coin demand grew 13 percent in the second quarter of 2017, driven by a strong 56 percent increase in Chinese demand. Gold prices have rallied recently from safe-haven buying due to rising geopolitical risks, including U.S.-North Korea tensions and President Donald Trump's signals that he hopes to abandon the nuclear deal with Iran, he added. On Thursday, spot gold prices were up 0.4 percent at $1287.70 an ounce at 3.30 p.m SIN/HK. ANZ is maintaining its three-month target of $1,300 an ounce for gold. More»
Amwal Al Ghad English - 2017-08-17 12:53:50
A unit of China Railway Group Ltd said it will began preliminary work on a $1.24 billion-worth light rail project in Egypt within two to three months, marking China's debut rail project in the country. China Railway Eryuan Engineering Group Co Ltd, as the prime contractor, said on Wednesday: "Upon completion, it will have the capacity to accommodate 340,000 passengers daily, and reduce traffic time between Cairo and the under-construction new administrative capital, as well as the 10th of Ramadan City, by about 30 percent." The light rail system is expected to cover a distance of 66 km with 11 stops, connecting the capital Cairo with the under-construction new administrative capital, and distant districts of Greater Cairo including Al-Salam, 10th of Ramadan, Obour, Badr and Shorouk. It has a designed maximum speed of 120 kilometers per hour. That's according to an agreement recently signed between a consortium of Chinese firms and the Egyptian Ministry of Transport. More»
Amwal Al Ghad English - 2017-08-17 12:16:53
Egypt's Cabinet passed on Thursday executive regulations to a new investment law aimed at luring back badly needed investors, the country's Investment Minister Sahar Nasr said on Thursday. The law will now be passed on to the state council, said Nasr, where it is expected to be given a final legal review before becoming active. More»
Amwal Al Ghad English - 2017-08-17 07:10:46
Italy posted its best annual economic growth figures since 2011 on Wednesday, its gross domestic product outdoing forecasts to grow year on year by 1.5 percent cent. In the first six months of 2017, growth was 1.2 percent, according to the national institute of statistics (ISTAT). Quarterly growth held steady at 0.4 percent in the three months to June, leaving Italy still below the eurozone average of 0.6 percent in the quarter. "Growth better than forecast. A good base from which to boost the economy and employment," Prime Minister Paolo Gentiloni said on Twitter. The Italian government had forecast a 1.1 percent increase in GDP this year, while the European Commission had expected it to increase by 0.9 percent and the International Monetary Fund had tipped a 0.8 percent rise. Italy shrugged off years of recession in 2014 but growth was very weak at just 0.1 percent. Its economy expanded by 0.8 percent in 2015 and 0.9 percent in 2016, half the average growth rate in the eurozone. Analysts had warned growth momentum could be affected this year by the political landscape, as the country heads towards a general election early next year, as well as a fragile banking system. But the country has been helped by a recovery in the single currency area and a rise in industrial production at home, while concerns over the banking system have receded. More»
Amwal Al Ghad English - 2017-08-16 11:39:27
Two Chinese state-run companies signed Wednesday a $1.24 billion deal with Egypt to build a light rail system around Cairo, state news agency Xinhua reported. Under the agreement signed with Egypt's National Authority for Tunnels (NAT), China's AVIC international and China Railway Group will build a 66-km network with 11 stations, on which trains will run at speed of up to 120 kilometres per hour to Cairo's surrounding districts, it said. Xinhua, citing NAT chief Tarek Gamal El-Din, said the project would start within two or three months and would be able to carry 340,000 passengers daily once completed. Egypt is a key partner for China in its "Belt and Road" initiative that aims to build transport and trade links between Europe and Asia. Chinese state firms, as a result, have been aggressively chasing projects abroad. More»
Amwal Al Ghad English - 2017-08-16 11:23:46
When the final contracts for the El Dabaa nuclear power plant are signed this year, Egypt is edging ever closer to achieving its nuclear ambition being nurtured for more than half a century now, according to a study. Over the intervening six decades, Egypt has come a long way and, after many hiccups, is finally on the cusp of reaping the benefits from its first very own nuclear power plant. Other than the sheer historic significance of Egypt’s most ambitious project since the Aswan High Dam, what does the El Dabaa NPP construction mean for Egypt and its people? Considering how technologically advanced the nuclear industry is today, its development almost inevitably puts a nuclear newcomer country into the  premier league of the world’s leading states, through the economic, technical and social progress it necessarily entails. First of all, obviously, there is the power generation itself. With its total 4,800 MWe net capacity, the El Dabaa NPP will not only ensure the security of supply, providing affordable electricity to millions of people, but opens up the potential of Egypt becoming an energy exporter in the future, solidifying its standing in the region. Importantly for a project of this scale, its effect will be felt both long before the plant is even built. For instance, the localization level for the project will amount to approximately 20%, which is remarkably high for a country with no pre-existing nuclear power plants. Even better news is that this figure is likely to increase with the construction of each subsequent power units (of the four units of the plant’ design). During the construction phase, the project will also provide employment for 10,000 to 12,000 skilled local workers. As far as job creation goes, the El Dabaa NPP will be a major employer, requiring 2,500 to 3,000 specialists for operation and maintenance. No less importantly, these jobs come with improved training and education opportunities for Egypt’s nuclear industry. Russia’s Rosatom, the main contractor for the El Dabaa NPP project, will be conducting training, both in Russia and in Egypt, for 2,000 Egyptian specialist cadre who will service the future NPP.  It also has joint nuclear education programmes for Egyptian students and partnerships with Egypt’s leading universities such as Alexandria University. Rosatom has plans to expand these programmes, with some 300 Egyptians students set to study nuclear science in Russia over the next few years alone. No less significant is the indirect effect the El Dabaa NPP project will have on Egypt’s economic development, stimulating growth in related non-nuclear industries such as construction and utilities as well as in the consumer services sector, and driving the population’s purchasing power. Early estimations put this indirect effect on Egypt’s economy at $7-9 billion during the NPP construction phase alone. An added – and, considering the failing state of Egypt’s tourism industry – important benefit of the project is that, by bringing state-of-the-art infrastructure to the relatively underdeveloped El Dabaa region, it will help turn the area into a tourist destination. The link between nuclear power and tourism development has been proven by precedent – most notably in Angra Dos Reis, a resort on Brazil’s south-east coast. The region is home to Brazil’s only nuclear power plant, Angra, which is the region’s largest employer and, since the start of construction in 1971, was instrumental in turning Angra Dos Reis from a backwater village into a popular resort, and driving the development of both traditional and modern industry sectors as well as the population’s living standards. Back in 2015, when Egypt and Russia signed an intergovernmental agreement on the construction of the El Dabaa NPP, Egypt’s president Abdel Fattah al-Sisi noted that having its own nuclear programme for power generation had been a long-time dream of Egypt’s. With the El Dabaa NPP, the dream come true is set bring Egypt infinitely more than just electric power. More»
Amwal Al Ghad English - 2017-08-16 07:20:22
Egypt is set to embark on a $255 million electric train project that will run to the country's planned new administrative capital, which officials say will save millions of dollars in fuel subsidies and reduce traffic, state news agency MENA reported. The construction of the railway, which will connect the Cairo suburb Al-Salam City with the new metropolis east of Cairo, is set to start in two or three months, head of the National Authority for Tunnels (NAT) Tarek Gamal Al-Din said on Tuesday. The railway, which will cover 68km and will mostly be above ground, will run through the northeastern Cairo suburbs of Badr and Al-Shorouk, Gamal A-Din told a press conference at the cabinet headquarters. The train will be able to accomodate 340,000 passengers daily. The project will be financed through a loan from China to be paid back over 20 years. After it is complete, the project is expected to save the state 2.3 billion pounds ($130 million) in fuel subsidies and vehicle traffic. It will also cut traffic by 30 percent on a highway connecting the capital to the the Suez canal at Ismailia port city, northeast of Cairo. Egypt announced early in 2015 its ambitious plan to construct a new metropolis 45km east of Cairo as part of the government's efforts to draw back foreign investors scared away by years of political turmoil following the 2011 popular revolt. More»
Amwal Al Ghad English - 2017-08-16 06:52:36
The Emirati ambassador in Egypt Gomaa Mubarak Al-Jneibi praised on Tuesday the relations between his country and Egypt, saying the UAE is one of the biggest Arab investors in Egypt at $4.9 billion in investments, state-run news agency MENA reported. The ambassador's comments came during the opening ceremony in Cairo of the EgyVac factory for vaccines, which is part of the Egyptian Company for Production of Vaccines, Sera, and Drugs (VACSERA). Egypt's Minister of Health Ahmed Emad El-Din also participated in the openeing of the new factory, which was established with EGP 700 million ($39 million) in UAE investment, according to Al-Ahram Arabic news website. Al-Jneibi said that EgyVac is one of the largest vaccine factories in the Middle East and is one of the more vital Emirati projects contributing to healthcare for Egyptians, the ambassador added. The UAE maintains diversified investments in the Egyptian economy. Last week, Dubai Ports signed an agreement with the General Authority for the Suez Canal Economic Zone to build development projects in the Suez Canal Zone. More»
Ahmed Fayez - 2017-08-15 19:04:15
Egypt and the Korea-Arab Society (KAS) signed Tuesday a cooperation protocol to build a $10 billion integrated agricultural city in the North African country. The city will be stretched over an area of 300,000 feddans in the southeast part of the Qattara Depression, north west of Egypt, said Prime Minister Sherif Ismail speaking at a press conference following the signing ceremony. The protocol was signed by the General Authority for Reconstruction Projects and Agricultural Development, an affiliate to the Egyptian Agriculture Ministry, and the Korea-Arab Society, represented by the Korean Arab Company for Economic and Cultural Consultancy.Within a six-month timeframe, the city is set to be completely built by Egyptian workers, under the supervision of Korean experts, Ismail said. The city will include agricultural projects by using the latest technologies, the establishment of 50,000 smart greenhouses as well as a number of seawater desalination and solar power plants, besides projects to produce fodder and cultivate stevia, the healthy alternative sweetener and sugar substitute. The protocol is one of the significant outcome of President Abdel Fattah al-Sisi’s visit to South Korea in March 2016, said Agriculture Minister Abdel Moneim El-Banna. More»