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

Amwal Al Ghad English - 2018-03-08 07:02:04
Egypt received on Wednesday the third loan worth $1.15 billion from the World Bank, the last in the series of the "Fiscal Consolidation, Sustainable Energy, and Competitiveness Development Policy Financing loans” worth a combined $3.15 billion, Investment and International Cooperation Minister Sahar Nasr announced. The World Bank’s Board of Executive Directors had approved in December the $1.15 billion development policy financing loan to support Egypt’s economic reform programme. The loans were approved between 2015 and 2017. “This loan supports Egypt’s home-grown inclusive reforms aimed to power job creation, ensure energy security, strengthen public finances, and enhance business competitiveness, especially for micro, small, and medium-sized businesses,” according to the World Bank. Egypt also received $150 million from the Group of Seven (G7) countries, the minister said. Last week, Egypt received $250 million from Germany and $170 million from France to support Egypt’s economic reform programme. The latter are part of additional financing agreed upon between Egypt and the International Monetary Fund, as part of the Extended Fund Facility programme to provide a $12 billion loan to Egypt. Separately, the Cabinet approved on Wednesday the agreement with the African Development Bank for the third $500 million tranche, signed in January, of the $1.5 bn loan to support the economic reform programme. The agreement with the bank is yet to be approved by the Egyptian House of Representatives. More»
Amwal Al Ghad English - 2018-03-07 14:08:21
President Abdel Fatah al-Sisi praised the cooperation with Italian energy company Eni and its operations in Egypt, stressing on the importance of committing to the set timeline for the development of the fields that Eni is working on. This came during Sisi’s meeting with Eni's Chief Executive Officer Claudio Descalzi Wednesday. Presidency’s spokesman Bassam Rady said that the meeting comes in light of the follow up on the company’s operations in Egypt, especially in relation to Zohr gas field. Descalzi reviewed the status of the different projects his company is executing in Egypt, praising the cooperation between Eni and the Egyptian government and companies. He said that Egypt is one of the most important markets for his company as it has promising opportunities in the energy and renewable sectors. Sisi expressed his keenness for the company to continue its work and achieve more discoveries. He also directed the Petroleum Ministry and its affiliates to cooperate with the company and remove obstacles that might stand in its way. More»
Enas Shaaban - 2018-03-07 12:52:01
Al Gioshy steel seeks to establish a new production line in the Sixth of October city a total investment of 500 million Egyptian pounds by the end of the current year, according to CEO  Tarek AlGioshy. He told Amwal Al Ghad that the new line contribute with increasing the production capacity from 240,000 tonnes to 500,000 tonnes referring that the company exports 40 percent of its production. Al Gioshy steel factory has recently been inaugurated in the Sixth of October city with a production capacity of 240,000 tonnes of steel annually. The factory is worth a total investment of EGP 500 million and aims to pump an additional EGP 250 million to establish a new production line in the coming months, with a production capacity of 360,000 tonnes of steel to reach an overall production capacity of 600,000 tonnes of steel. More»
Amwal Al Ghad English - 2018-03-07 07:26:08
Egypt's Electricity Transmission Company (EETC) signed an agreement Tuesday with a consortium comprising Orascom Construction, Engie, and Toyota Tsusho Corporation to build a $400 million wind farm in the Gulf of Suez’s Gabal El-Zeit, according to a Cabinet statement. The agreement is under a build-own-operate framework to generate wind power at a capacity of 250 MW. This represents a third of the total wind power currently generated in Egypt, according to the statement. The wind farm will be linked to the national grid for trial operation by mid-2019, and will be fully linked by the end of 2019. The consortium of companies had reached financial close for the project last December, with funding from Japan Bank for International Corporation, Nippon Export and Investment Insurance, SMBC and Societe Generale, according to a statement last December by Shalakany law firm, which acted as local counsel for the lenders. Electricity Minister Mohamed Shaker noted at the signing ceremony that all power-purchase agreements were finalised for the Benban solar power complex, which is set to be the largest solar installation in the world, with a capacity of 1,460 MW. A €22 million multipurpose applications by thermodynamic solar (MATS) plant was also inaugurated last week in Borg El-Arab, Alexandria to produce over 3,000 MWh of electricity and about 8,900 MWh of thermal energy every year when it becomes fully operational. The ceremony was attended by Prime Minister Sherif Ismail, Electricity Minister Mohamed Shaker, Investment and International Cooperation Minister Sahar Nasr, and Finance Minister Amr El-Garhy. Egypt’s national strategy looks to bring the contribution of electricity from renewable energy to 20 percent by 2022, to be increased to 42 percent by 2035. More»
Sana Allam, Hisham Ibrahim - 2018-03-06 13:55:26
Egypt has 119 industrial zones spread around the state with total investments of 700 billion Egyptian pounds under the supervision of the Egyptian Industrial Development Authority (IDA), said Amany Moemen. The Chairman's Counselor for Strategies and International Cooperation made these remarks during the 7th SIA international conference “Sustainable Industrial Areas – Investment Promotion| SME Development | Productive Employment''. The conference serves as an international platform for exchanging knowledge about development of Sustainable Industrial Areas worldwide and address the Egyptian vision regarding Industrial Areas. More»
Amwal Al Ghad English - 2018-03-06 07:20:52
Egypt’s President Abdel Fatah al-Sisi provided Saudi Crown Prince Mohammed bin Salman with an inspection tour of several national projects on the Suez Canal on Monday, highlighting works completed during the Egyptian leader's four-year tenure. The two men, accompanied by a number of Egyptian and Saudi ministers, arrived at Ismailia governorate, where they were presented with updates on several national projects in the area, including the new Suez Canal waterway, which was inaugurated in August 2015, and tunnels beneath the East Suez Canal development zone in northern Ismailia. Mohab Mamish, head of the Suez Canal Authority, provided information on the projects, highlighting investment opportunities in the Suez Canal Special Economic Zone (SCZone). He also praised the crown prince’s NEOM project, involving the creation of a huge transnational city and economic zone. Covering 26,500-square kilometres in Saudi Arabia, Jordan and Egypt, NEOM is the latest and most extraordinary in a slate of privatisation programmes from Saudi Arabia, led by the floating of Aramco. Adjacent to the Red Sea and the Gulf of Aqaba and near maritime trade routes that use the Suez Canal, the zone will serve as a gateway to the proposed King Salman Bridge, which will link Egypt and Saudi Arabia. Monday’s visit comes one day after the Saudi crown prince arrived in Egypt for his first foreign visit since assuming his current title. On Sunday, El-Sisi and Bin Salman witnessed the inking of a number of deals, including the launch of a Saudi-Egyptian investment fund between the Saudi Public Investment Fund (PIF) and the Egyptian Ministry of Investment and International Cooperation. Sunday’s meeting also included political discussions, during which the Egyptian president reaffirmed that "the security of the Gulf is an integral part of Egyptian national security”, according to Egypt’s presidency spokesman Bassam Rady. After his visit to Egypt, Bin Salman will head to the United Kingdom on 7 March and to the United States on 19 March. More»
Amwal Al Ghad English - 2018-03-05 09:39:10
A Belgian trade delegation is set to visit Egypt from Sunday 4 March to 8 March to discuss fostering and enhancing economic trade relations between Belgium and Egypt, the Belgian Embassy in Cairo said on Sunday. According to an embassy press statement, the delegation will include representatives from over 25 Belgian companies seeking to provide assistance to Egyptian companies in exporting to Europe, as well as discussing the prospects for further cooperation. According to the embassy, the delegation will be looking for Egyptian partners to represent their companies in Egypt. The embassy’s trade attaché, Haguer Magdi, said the delegation will be hosted by the embassy's trade commission, connecting the companies later with their Egyptian counterparts who are interested in the European country’s industry and vast expertise. The delegation will meet with Egyptian companies in the private and public sectors, in addition to visiting the country’s New Administrative Capital in order to explore promising opportunities for exporting products and exchanging expertise in construction and development. “Belgium values local industries of all sizes. Eighty-five percent of the Belgian economy consists of small and medium enterprises,” Magdi noted, with the statement providing further details of the fields in which the companies operate. The Belgian SMEs specialize in several sectors, including but not limited to construction, consultancy, video mapping projection, healthcare, furniture, banking and insurance, flooring, packaging, printing, energy and electricity, automotives, and satellite navigation. “Although most companies are new to the Egyptian market, others have already been trading with Egypt for years, with a value of 150 million euros,” Magdi said. The statement concluded that the upcoming visit comes within a framework that sees the Belgian and Egyptian counterparts meeting every two years since 2008 to discuss investment opportunities. The first such meeting was held in 2008 in the presence of Prince Philippe and the current King of Belgium, and 100 Belgian companies. More»
Amwal Al Ghad English - 2018-03-05 09:21:41
Egypt is discussing the setting up of a sovereign wealth fund to manage state companies as it plans to list them on the stock exchange, the minister for public enterprise, Khaled Badawi, said on Monday. The idea of the fund is being discussed internally and is in its early stages, he told a conference in Dubai. Egypt is looking to offer shares in eight to 10 state companies on the stock exchange over the next 18 months, Finance Minister Amr El-Garhy told Reuters in January, as part of a drive to attract foreign investors. Badawi told reporters that Egypt is looking to raise $2 billion to $3 billion from the sale of stakes in state companies ahead of their formal listings. The timeline for such deals is more than a year, he added. He said the plans are being reviewed by the cabinet and a law will need to be introduced first for such sales. The moves come as investor interest in Egypt has improved in recent months after years of political turmoil, encouraged by the North African country’s economic reforms, a major gas find, streamlined business rules and a devalued currency. More»
Amwal Al Ghad English - 2018-03-03 12:51:44
Ministry of Investment and International Cooperation launched Friday its new official website in Arabic and English The website, which includes a section for investments, covers services for investors, an investment map and investment and free zones, as well as laws and regulations. In addition, the website also includes a section for international cooperation sector, as well as the necessary measures required to reach agreements, development partners, joint committees, exchange of debts and development programs. Moreover, it constitutes of a section for stories of success, news, events, resources and tenders, in addition to a section for reports issued by international institutions concerning Egypt and its investment and economic climate and routine reports issued by the ministry. More»
Hisham Ibrahim, Sanaa Allam - 2018-03-03 11:42:06
Tarek Kabil, minister of trade and industry, announced that Egyptian exports to Russian markets has witnessed a great leap increasing  by 35 percent to register $504.6 million compared to $374 million. This came according to the latest report received by the minister from the Egyptian Commercial Office in Moscow about the development of Egyptian exports to Russia during 2017. Kabil added that the preliminary indicators for 2017 indicate that Egyptian exports to the Russian market may have exceeded $500m for the first time in the history of the trade relations between the two countries. Head of the Egyptian Commercial Service Ahmed Antar attributed the rise in exports to Russia last year to an increase in the exports of fruits and vegetables, food products, home appliances and medical industries by 39%, 115%, 600% and 48% respectively. More»