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        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        Northern Upper Egypt Developme   4.93        Egyptian for Tourism Resorts   0.69        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        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 - 2018-01-13 12:16:37
Egypt’s Polaris Al-Zamil Industrial Park Company (PZIP) says it seeks to start utilising 5.5 million square metres in the Suez Canal Economic Zone (SCZone) within the upcoming two months. PZIP is a joint venture between Polaris International Industrial Parks, which is a Turkish-Egyptian shareholder structure and Zamil-Holding, a global investment firm based in Saudi Arabia. The utilities works will be executed in cooperation with the country’s ARDIC for Real Estate Development and SIAC Holding Development, said Mohamed Kassem, Polaris’s board member, on Saturday. “The alliance received last Thursday an industrial development contract from Mohab Mamish, General Authority for Suez Canal Economic Zone’s chairman, in presence of Ibrahim Mahlab, president's adviser on national development projects,” Kassem further referred. The industrial development flagship aims to attract investments worth $3.5 billion and create nearly 100,000 job opportunities, including 40,000 direct job opportunities, he stated. “Polaris developed 3.1 million square metres in Sixth of October City, with investments of 20 billion Egyptian pounds ($1.1 billion),” Kassem said, adding that it attracted more than 80 foreign investors and a number of other local investors. ARDIC developed and delivered five mega residential and commercial projects in New Cairo and El Shorouk cities, he elaborated. More»
Sanaa Allam - 2018-01-13 12:09:34
Egypt targets between 20 and 25 percent increase in its leather exports within 2018, said Mahmoud Serg, Leather Export Council of Egypt’s (LEC) chairman, on Wednesday. “LEC’s scheme focuses on opening new markets in West and East African countries, including Kenya, Guinea, Uganda, Burundi, Rwanda, Senegal, and Nigeria as well as a number of other markets; Sweden, Norway, Denmark, Netherlands, and Russia,” Serg further told Amwal Al Ghad. The council also plans to impose value-added tax (VAT) on leather products and increase the exports value within 2019, the Egyptian official stated, adding that exports fell by 13 percent during 2017. Serg said that LEC has earlier signed an agreement with African Development Bank (AfDB) to offer loan guarantees up to 80 percent. “Egypt’s leather exports dropped by 11 percent to around $107 million during the January-November 2017 period from $120 million during the same period in 2016,” Serag said. These exports represented one percent share out of total Egyptian exports during the January-November 2016 period, he noted. 10 countries captured 93 percent stake, recording about $99.35 million of the Egyptian leather exports during the first 11 months of 2017, especially Portugal seized $30.55 million followed by Italy of $30.55 million, he clarified. Serag added that Spain was in the third position of attaining Egyptian exports worth around $19.28 million, followed by China of $9.8 million and India of $8.51 million. More»
Amwal Al Ghad English - 2018-01-13 08:27:26
Egypt's Minister of Industry and Foreign Trade Tarek Qabil announced Friday that the Ministry completed forming a draft law to develop micro, small, and medium-sized enterprises (SMEs). The draft law was submitted to the House of Representatives for approval. The draft law includes defining the tariffs and incentives for these types of enterprises, which represent 80 percent of Egyptian economic structure, in addition to means of financing them, Kabil added. The draft law is the result of a second meeting with the Board of Directors of Small and Medium Enterprises (SMEs) Development Authority, Hisham Ragab, Advisor to the Minister for Legislative Affairs, and Dalia Salem, Head of the European Sector at the Ministry of Investment and International Cooperation (MIIC). Kabil pointed out that this law will abolish the previous law, Law No. 141 of 2004, which applies to small and very small enterprises, as it will grant the Small- and Medium-sized Enterprises (SMEs) Development Authority, the power to supply funds directly or indirectly, and provide technical support to SMEs and startups. The new national strategy to develop SMEs and startups was set upon the strategic goals for sustainable development in the Egyptian 2030 vision. It aims to create a competitive and balanced economy based on innovation, knowledge, justice and social integrity to reach sustainable development and improve the standard of living of the Egyptian citizens at last, according to Qabil. He concluded that this strategy aims to increase contributions of innovative SMEs to economic growth, improve the surrounding environment of SMEs and encourage entrepreneurs. More»
Amwal Al Ghad English - 2018-01-13 08:20:17
Trade agreements are made among nations to benefit the economy and consumers by eliminating trade barriers such as tariffs and quotas. So when the Egypt-EU Association Agreement, coming into force in 2004, was signed a main goal was to encourage manufacturers targeting the European market to make Egypt their manufacturing hub and benefit from the low cost of labour and cheaper currency. They could then ship their finished products into Europe free of tariffs and quotas. Egyptian consumers should have benefited from higher-quality European products including cars on the Egyptian market at affordable prices since they would be tariff-free. “Tariffs on European cars shall be reduced by 10 per cent annually starting six years after the entry into force of the agreement, or January 2010, with duties completely eliminated within 16 years after entry into force of this agreement,” says the text of the agreement on the EU website. However, this schedule was interrupted for some time due to political instability in Egypt after 2011. An unpredictable economic situation in Egypt also allowed the government to postpone the process for a year. But many car-buyers in Egypt have also asked why the agreement has not helped bring down the price of European cars over recent years before the impact of the current inflation. “Before the current round of inflation, dealerships and car distributors in Egypt benefited the most from the reduction in tariffs by increasing their profits,” said Effat Abdel-Atti, head of the Cars Division at the Cairo Chamber of Commerce. Abdel-Atti said that with the changes in the law, tax rates and the value of the Egyptian pound over the last few years, dealerships and car distributors wanted to make the biggest profits possible to make up for any losses they might face in the future. More»
Amwal Al Ghad English - 2018-01-13 08:07:54
China's 2017 trade surplus with the U.S. was $275.81 billion, the country's customs data showed Friday. By that data, last year's surplus is a record high, the wire service reported. For comparison, the previous record was a surplus of $260.8 billion in 2015. The world's second-largest economy had a surplus of $25.55 billion in December, data showed, compared to $27.87 billion in November. More»
Amwal Al Ghad English - 2018-01-13 07:51:34
Egypt's Chairman of the Suez Canal Authority and the Suez Canal Economic Zone (SCZone) Mohab Mamish said that revenues from SCZone ports (six ports) reached 2.4 billion Egyptian pounds in 2017, the Suez Canal Authority said in a statement on Friday. During a meeting with Presidential Adviser for National Projects Ibrahim Mahlab, Mamish said that the SCA signed 23 contracts with investors in the past six months. He added that investors' pending problems have been solved. Mamish said that the SCA signed agreements with six international and domestic companies and handed over land plots worth dlrs 8 billion to investors in Ain Sokhna. He added that implementation of projects is set to be started during the current year. Mahlab and Mamish also toured Sonker bulk-liquids terminal in the third basin in Ain Sokhna port that will help supply Egypt with its needs of Liquefied Petroleum Gas (LPG). Mahlab said that Sonker plant is a comprehensive logistic platform at the Red Sea to secure oil supplies, stressing that coordination is underway with the Petroleum Ministry to cope with the latest technologies, global standards and occupational safety. Mahlab also inspected the water desalination plant at the industrial zone in Ain Sokhna. More»
Amwal Al Ghad English - 2018-01-13 07:42:49
It is sugarcane harvesting season again, and negotiations between government officials, representatives of farmers, and sugar companies about the delivery price of sugarcane have been heated. Abdallah Al-Shafei, a former head of the Sugar Crops Research Institute, an affiliate of the Ministry of Agriculture and land reclamation, told Al-Ahram Weekly that he hoped an agreement on prices could be reached soon. The farmers have requested an increase in the price of the sugarcane which they deliver to state-owned companies from 620 Egyptian pounds to 850 pounds per tonne. The Farmers Syndicate has produced a study explaining in detail that the cost of growing sugarcane has surged due to the high prices of fertilisers and other production needs, showing that the current price is unfair to farmers. The study highlighted the fact that 500,000 families depend on growing sugarcane as a source of income. The parliament’s Agriculture Committee has supported the farmers’ request in a memo presented to the government asking for the price to be increased to 850 pounds per tonne. The memo explains that the total cost of growing sugarcane is estimated at 26,000 pounds per feddan, which means last year’s price of 620 pounds per tonne is unfair to farmers. More»
Amwal Al Ghad English - 2018-01-11 13:42:33
The International Economic Forum, one of leading institutions in the field of economic research, issued a report on competitiveness in 2017, citing Egypt as the second cheapest tourist destination in the world. The report cited the fact that Egypt has made impressive strides in the field of tourism over the past couple of years, and commended the government on their efforts by improving infrastructure and making an effort to improve touristic sites. Egypt ranked as the 37th country in government efforts to boost tourism, a jump of 32 places. Moreover, the report also commended Egypt on jumping nine places in two years, becoming the 74th most favorable tourism destination in the world. According to the report, Egypt is on its way to healing, citing 2015 as the year where Egypt began to leave its long tourism recession that began in 2011, as Egypt welcomed for the first time in four years nine million international tourists. The numbers still don’t compare to tourism figures prior to 2011 when the numbers reached 14 million tourists in 2010. However, the report says that despite all efforts, the main hurdle for tourism remains the security threat that Egypt still faces, especially with regards to terrorism. The report concluded on a hopeful note, saying Egypt’s efforts to boost tourism will have a major payoff as soon as the country’s security problems are solved. While some may view Egypt coming in as the second cheapest country in the world for tourists as a good thing, since price competitiveness is extremely important when attracting tourists, author Mustafa Al-Naggar disagrees. In an article he wrote for Al-Ahram, Al-Naggar says, “while some, including those who issued the report, may view this Egypt coming in second place in price competitiveness as a competitive strength to attract tourists and increase numbers, we view this as the exact opposite. “Egypt coming in such a late place proves a huge waste of Egypt’s tourism resources and a pressure to infrastructure.” He continues to pose the question, “Is success measured by the number of tourists or by the economic benefit that tourism brings to the national economy?” Al-Naggar’s argument is supported by other factors that prove that Egypt’s affordability for tourism isn’t helping it in other fields. Egypt came in second last place when it comes to training workers, proving that the country being cheap for tourists might have to do more with the quality of service it provides rather than competitiveness. It is also supported by the fact that the same report ranked Egypt in 109th position out of 136 in its ability to market its tourism directly to attract tourists. However, Egypt did take one positive step: improving its visa procedures and decreasing its requirement for a visa, ranking 51 on this criteria, according to the report. In the recent years Egypt has made efforts to boost tourism, this year hosting the World Youth Forum and the Africa 2017 conferences in Sharm El-Sheikh.The first conference invited youth from all over the world to visit Egypt to talk about the future of the world. While Egypt was trying to send a political message for openness it was also trying to send a message that it is a safe and enjoyable country to visit. Egypt also released a promotional campaign titled “This is Egypt” which aimed to promote Egypt’s best tourism assets. The campaign video won best promotional video in the Middle East. However, there has been several terrorist attacks in the past few years especially on churches that could discourage tourists from coming such as the Palm Sunday attack last April and the Egypt Air plane bombing in 2016. More»
Amwal Al Ghad English - 2018-01-11 08:48:23
Saudi Aramco is working to secure billions of dollars in cheap loans from banks seeking to strengthen their ties with the oil giant before its stock listing, banking and export credit agency (ECA) sources said.Citigroup (Citi), Standard Chartered and Sumitomo Mitsui Banking Corporation were advising on the transactions, which two sources said could raise at least $5 billion to $6 billion, all with ECA-backing. The bid to raise funds is the latest indication of Saudi Arabia’s push to ensure what could be the world’s biggest initial public offering (IPO) goes ahead in 2018, despite market speculation that sale plans might be delayed or even shelved. The loans will offer slim returns - probably less than 1 percent a year - but the sources said the banks hoped to position themselves for more work as the kingdom proceeds with selling up to 5 percent of Aramco in an IPO that could value the firm at $2 trillion. More»
Hisham Ibrahim, Sanaa Allam - 2018-01-11 08:39:31
Egypt has officially submitted a request to Common Market for Eastern and Southern Africa (COMESA) to serve as the secretary general during the upcoming period, the minister of industry and trade Tarek Qabil said. He added that such decision reflects the state keenness to strengthen Egypt's role in the African continent and develop the trade and investments relation with countries which are members in the COMESA. "Around $1.7 billion are the value of exports from Egypt to COMESA countries, while$600 millionb are imports", the minister added. More»