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        United Arab Shipping   0.43        Egyptians Housing Development    1.94        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

Hisham Ibrahim, Sanaa Allam - 2018-04-26 14:46:55
The ministry of industry and Trade Tarek Kabil said that 1164 industrial establishments have obtained licenses to operate and build as well as temporary permits from the Industrial Development Authority during last March. He compared the current number of licenses to  188 licenses in the same period last year. The minister pointed out that the total of what has been issued since the start of the current fiscal year in July 2017 until the end of March amounted to about 6539 operating licenses and building permits operation of temporary, noting that  959 establishments have been recorded in the industrial register , including 537 permanent record and 422 temporary record of bringing the total facilities were It recorded the industrial register to 6782 (temporary and permanent) during the same period. Egypt’s General Authority for Industrial Development has granted  a total number of 1500 Licenses and Permits  since the issuance of industrial licensing law in May 2017. Minister of Trade and Industry Tarek Kabil  has announced the adoption of the executive regulations of Law no. 15 of 2017 on facilitating the procedures of obtaining industrial licenses, previously passed by the Parliament and launched according to a presidential decree last May. More»
Ahmed Mahdi - 2018-04-26 12:36:46
Egypt’s exports of gold, ornaments and precious stones sagged 3 percent in the first quarter in 2018, registering $700 million, compared to $701 million during the same period of 2017, according to the General Organization for Export and Import Control (GOEIC). The country's sole gold-exporting mine, Sukari Gold Mine recorded gold production of 124,296 ounces during the first quarter of 2018, with an increase of 14 percent compared to the same quarter in 2017. Moreover, , the exports of gold, ornaments and precious stones recorded $2.09 billion in 2017; UAE came at the top of the gold importers from Egypt for $1.6 billion, compared to $1.5 billion in 2016. The exports to Turkey rose 40 percent to reach $110 million last year, compared to $79 million in the prior year. The report added that the exports to Kuwait also increased to $74,000, with a 27-percent increase.  More»
Sana Allam, Hisham Ibrahim - 2018-04-25 13:17:37
Chairperson of the Industrial Development Authority ( IDA) Ahmed Abdel Razek said that the authority targets to offer 12 ready industrial complexes including 8 complexes in Upper Egypt, 3 in 10th of Ramadan City and one in Sadat City. He made these comments during a meeting organized by British Egyptian Business Association - BEBA. The IDA plans to establish 22 industrial complexes for SMEs until 2020, the complexes include 200 factories for SMEs, and they are scheduled to be allocated free of charge to Egyptian and foreign investors in Upper Egypt. He pointed out that the IDA targets to offer 60m sqm of flat land until 2020, and that it offered 11m sqm since its establishment in 2006. 11m sqm of lands were offered in 2016— which means that what was offered in 2016 alone was as much as what had been offered in the past nine years. Abdelrazek added that IDA has recently launched 8 million square meter of lands through the private sector in the frame work of the industrial developer programme. Abdel-Razeq pointed out that the manufacturing cost in Egypt has become competitive for many countries around the world, which is one of the fruits of the policies taken by the government, such as the flotation and the exploitation of raw materials raising the added value of the domestic product by noting that the most prominent evidence of this is the flow of unprecedented requests for industrial investors locally and globally. More»
Mahmoud Shaaban - 2018-04-25 12:34:23
UAE-based Mubadala Petroleum seeks to sign the final agreement to purchase 10 percent stake in Egyptian giant gasfield Zohr from Eni by late May, said its chief executive Bakheet Al Katheeri on Tuesday. Al Katheeri made his remarks during his meeting with Egyptian Oil Minister Tarek el-Molla in Cairo. Eni currently holds through its subsidiary IEOC a 60 percent stake in the block, the biggest ever gas discovery in the Mediterranean, with 400 million standard cubic feet per day. Rosneft holds a 30 percent share and BP 10 percent. The deal, estimated at $934 million, fits with Eni’s so-called ‘dual exploration’ strategy, under which the state-controlled group aims to sell down stakes in fields it operates in order to raise cash to fund future development and support dividends. Production at Zohr began late last year, which was discovered in August 2015 by Eni and is already reshaping the geopolitics of energy in the eastern Mediterranean, holding promise for the region but also stoking tension among neighbouring countries. It should add 70,000 boe/d (barrels of oil equivalent per day).Mubadala Petroleum is entirely owned by Mubadala Investment Company, the Abu Dhabi-based state fund with assets worth over $125 billion. Its chief executive said the deal was “important and attractive”. More»
Sana Allam - 2018-04-25 10:55:45
Egypt’s exports of building materials increased 7 percent in the first quarter of 2018, recording $1.5 billion, compared to $1.4 billion in the same period of 2016, according to the Export Council for Building Materials (ECBM). on the other hand, the council said in its monthly report that iron exports increased 4 percent to reach $250 million in the first three months of the current year, compared to $239 million during the mentioned period in the previous year. Moreover, the report also remarked that Egypt’s exports of wires, pipes and reservoirs jumped 48 percent to $44 million, from $30 million in the compared period. More»
Amwal Al Ghad English - 2018-04-25 10:42:45
Global law firm Baker McKenzie has been named as the "Regulatory & Investigations Team of the Year" at The Middle East Legal Awards 2018 hosted by Legal Week and the Association of Corporate Counsel in Dubai on April 19. The awards ceremony celebrated outstanding achievement within the legal profession and awards were judged by an independent panel comprising the most senior and innovative individuals in the sector. Baker McKenzie was also shortlisted in seven other categories. This comes on the back of its recognition as "Litigation Team of the Year" in 2017 and "Regulatory & Investigations Team of the Year" in 2016 at the same awards. "It is an honour to have been recognised as the "Regulatory & Investigations Team of the Year" at The Middle East Legal Awards this year," said Dr. Habib Al Mulla, Executive Chairman of Baker McKenzie Habib Al Mulla in the UAE. "Our clients face increasing global regulatory and enforcement activity, and we are committed to easing their navigation of different national and international regulations, as well as helping them take control in times of crisis." This is the fourth award won by Baker McKenzie's Middle East practice in the past 12 months. The Firm was recognised at Mergermarket's Middle Eastern M&A Awards as "Middle East Financial Services M&A Legal Adviser of the Year" in 2018 and "Telecoms, Media & Technology M&A Legal Adviser of the Year" in 2017, and also voted "Litigation Team of the Year" at the 2017 Middle East Legal Awards hosted by Legal Week and the Association of Corporate Counsel. More»
Amwal Al Ghad English - 2018-04-25 10:31:21
Hotels and Online Travel Agents (OTAs) need to work together to reach a collaborative approach that maximises revenues, builds brand confidence and rewards consumer loyalty, according to a panel of experts speaking at Arabian Travel Market (ATM). According to a report published on Monday by Colliers International on ATM’s Global Stage, rate parity agreements have led to a turbulent relationship between hotels and OTAs in recent years. The findings of the report entitled ‘Alternative Accommodation – Driving Growth for Destinations or Disruption’ were discussed by a panel of experts from Wego, AccorHotels, Expedia Group and Colliers International. The essence of rate parity is to have the same rate for the same product across all distribution channels. However, rate undercutting has created issues between hotels and OTAs and as a result, significantly reduced consumer confidence in brands. “Consumers are comparative shoppers, so when they see that the rate on a hotel website is higher than an OTA for the same product, this creates a negative sentiment about the brand in their minds. As the undercut rate percentage by OTAs increases, there is a drop in the booking conversion on the hotel’s website.” Filippo Sona, Director, Head of Hotels MENA of Colliers International, said. “Today’s consumers have a more sophisticated mindset and level of needs, and as a result, rate parity is hindering the ability of OTAs to make more money and hotel companies to offer higher average room rates. If we removed the rate parity mechanism, we would be able to more effectively fulfil the needs of OTAs and hotels, while providing a more personalised product to consumers.” Sona added. With continuous technological advancements in the online travel market such as metasearch engines, blockchain and augmented analytics, new strategies need to be devised to win back consumer confidence and increase their brand loyalty. “With the consumer in mind, blockchain technology provides services such as secured payment, identification and security, simplified loyalty programmes and baggage tracking.” Paula De Keijer, Senior Director of Market Management Middle East, Africa, Greece, and Turkey of Expedia Group, said. “As we look to the future, augmented analytics will provide consumers with the power to make more informed choices. Considering the vast amount of data that hotels and OTAs accumulate, this technology is the perfect tool to understand consumer behaviour, preferences and booking patterns. Combining algorithms, artificial intelligence and machine learning will lead to providing better recommendations to customers and matching them to the properties best suited to their needs.” Keijer added. Hotels and OTAs have their own competitive advantages and limitations. While hotels have the micro information, OTAs have the purchasing and booking habits of consumers. In the evolving landscape, it is crucial that hotels understand direct bookings do not matter like they did in the past. Instead, establishing a collaborative approach, with the help of technological advances, that maximises revenues should be the focus. Sona, said: “The first emerging tool will be dynamic commissioning. This will enable hotels to set a hurdle rate for OTAs, in turn incentivising OTAs to sell above that rate to earn a higher commission. Based on our research, we suggest for every $10 above the hurdle rate OTAs earn an extra 5 percent, with the maximum amount of possible commission capped at 35 percent.” “The second approach is nano pricing which provides consumers with the power of choice and added confidence in brands. Today, hotel room prices are based on three factors: room view, room type and number of occupants. However, nano pricing is calculated by combining base price (room inclusive of limited amenities) with the cost of any requested extras (for example upgraded toiletries).” In recent years, competition in the market has further increased with the rise of alternative accommodation such as Airbnb. The success of this type of accommodation stems from their ability to create a more local and personal experience for consumers. “Alternative accommodation should not be viewed by hotels and OTAs as a threat or disruptor.” Flavio Leoni, Vice President of Sales, Distribution, Loyalty, and Marketing at AccorHotels Middle East and Egypt, said. “It is just another tool that provides additional choice to the consumer and also presents hotels and OTAs with the option to explore new ideas and expand their brands.” Leoni added. “If we break down the needs of both business and leisure travellers, as well as individual and family travel, it is possible for alternative accommodation to exist peacefully in the market alongside more traditional forms of accommodation.” More»
Amwal Al Ghad English - 2018-04-25 09:59:41
SDX Energy Inc., the North Africa focused oil and gas company, announced Tuesday that an oil discovery has been made at its Rabul 4 Well in the West Gharib Concession in Egypt. SDX holds a 50 percent working interest and is joint operator. The well was drilled to a TD of 5,250 ft and encountered approximately 43 ft of net heavy oil pay across the Yusr and Bakr formations, with an average porosity of 16 percent. Further evaluation of the discovery is ongoing, after which the Company expects the well to be completed as a producer and connected to the central processing facilities at Meseda. Following completion of the Rabul 4 well, the Company will move on to Meseda field, where it will drill two development wells. More»
Amwal Al Ghad English - 2018-04-25 09:46:56
European Union Climate Action and Energy Commissioner Miguel Arias Canete said Tuesday the EU supports transforming Egypt into a regional energy hub, according to a statement released by the Egyptian Oil Ministry on Tuesday. Speaking at the EU-Egypt Sustainable Energy Forum in Cairo, Canete said that Egypt has the potential to become an energy hub, adding that the EU “is keen to support Egypt with sharing of experience, financial and technical assistance, and with the mobilisation of international finance”. He went on to say that Egypt and the European Union partnership is a guarantee that successful projects and investments for Egypt in the field of gas, oil and renewable energy will be implemented. He said that discussions between the EU and Egypt in the field of energy focused on raising the efficiency of energy use, transforming Egypt into a regional hub for various types of energy and supporting renewable energy projects. On Monday, Egypt and the EU signed a Memorandum of Understanding for a Strategic Cooperation in Energy, which opens up a wide range of opportunities for investment between the two sides in the field of renewable energy. More»
Amwal Al Ghad English - 2018-04-25 09:47:46
Russia was China’s largest crude oil supplier in March, data showed on Tuesday, retaining the lead spot for a 13th consecutive month.Last month, Russia supplied 5.79 million tonnes, equal to 1.36 million barrels per day (bpd), up 23.6 percent from the same month a year earlier, data from the General Administration of Customs showed. Russia has been the biggest oil exporter to China since March last year. For the first quarter, Russian shipments rose 22 percent from a year earlier to 16.51 million tonnes, or 1.34 million bpd. Saudi Arabia, China’s second-biggest supplier in March, also ramped up its exports, the data showed. Shipments last month were 4.6 million tonnes, or 1.09 million bpd, up 1.2 percent from a year ago, but down from 1.2 million bpd in February. More»