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 - 2018-01-09 07:49:35
Egypt, Tunisia, and Turkey are expected to see a jump in British tourist arrivals this year, after several years of political unrest and security concerns, ABTA says in its annual report on travel trends. The report says  that tour operators in the UK have maneuvered around the flight ban imposed on Sharm El Sheikh by promoting trips to other Red Sea destinations, including Hurghada, giving 2017 bookings a 66 percent y-o-y boost. “Early indications are that holidaymakers will start travelling back to destinations in the Eastern Mediterranean. In particular, bookings for Turkey saw a significant increase of 69 percent for Summer 2018, whilst Egypt is continuing on its road to recovery with a 24 percent increase in bookings,” the report said. The British ambassador to Egypt, John Casson, said in a ‘tweet’ in November that the number of British tourists in Egypt is up by 74 percent in 2017, adding that he will continue supporting efforts to increase the figure. Egypt witnessed a slump in visitors following a series of terror attacks which prompted a suspension of UK flights to the major tourist destination, Sharm el-Sheikh. But in the wake of Egypt’s renewed security procedures, Germany allowed flights to resume, while France, and the UK are engaged in negotiations with Egypt to resume flights to Sharm el-Sheikh airport. Earlier this month, Russian President Vladimir Putin has approved the resumption of regular air traffic between Moscow and Cairo after a two-year suspension. More»
Amwal Al Ghad English - 2018-01-09 07:40:10
Saudi developer ACWA Power reached financial close with the Egyptian government for the development, construction, and operation of three photovoltaic projects worth $190 million and set for peak total output of 165.5 megawatts at the Benban complex in Upper Egypt's Aswan, the company announced in a press release Monday. Out of the $190 million, 75 percent will be financed through a non-recourse project debt from the European Bank for Reconstruction and Development and the Industrial and Commercial Bank of China. The Multilateral Investment Guarantee Agency is covering the remaining 25 percent of the project’s cost which is financed with equity capital. Construction of the three power plants will begin in Q1 2018 and the projects will be operational within the fourth quarter of 2018. “We are very excited that our first projects in Egypt have not only achieved financial close but are three photovoltaic power plants supporting the Egyptian government in its pursuit of securing 20 percent of renewable energy in the power generation mix by year 2022,” Paddy Padmanathan, president and CEO of ACWA Power said. The projects will power 80,000 houses and will save 156,000 tonnes of CO2 per year, the company said. “ACWA Power is partnering with the Chinese group Chint and the Egyptian groups Tawakol and Hassan Allam Holding, two of the most reputable local companies in Egypt on the project, highlighting the company’s commitment and belief in the Egyptian Market,” the press release read. ACWA Power is also contracted for other energy development projects in Egypt, including the Dairut 2250 MW combined-cycle gas turbine power plant, and a series of more than 500 MW wind projects and 1 GW of photovoltaic projects. More»
Amwal Al Ghad English - 2018-01-09 07:23:10
Egypt's Transportation Ministry is planning to increase railway ticket prices by up to 20-25 percent for certain lines, in addition to a bigger increase for suburban railway lines, Transport Minister Hisham Arafat said by video conference at the opening of a number of national projects on Monday. The minister did not specify the increase for suburban short-distance lines, but said they are the main source of financial losses for the railway system, as 190 million people use them per year and pay only 1.25 pounds per 70 kilometers. As for long- and medium-distance trains, the minister said their tickets are covering their cost of operation, but that losses are increasing with the cost of maintenaince. The minister previously announced last month that railway ticket prices would increase before the end of June 2018. The railway system is 40 billion pounds in debt, in addition to yearly losses, Arafat said. The National Railway Authority collects 1.9 billion pounds from long- and medium-distance trains, and 250-300 million pounds from cargo transport. Total expenditures of the railway system are worth 5.5 billion pounds and total income is about 2.3 billion pounds. “The pricing system is very poor, in addition to the fact that cargo transport is moving away from the railway,” Arafat said. Arafat attributes to the moving away of cargo transport from railway to land transport to the 30-year long diesel fuel subsidies system provided by the government. The railway system is also facing planned upgrades. By 2022, 52 billion pounds is planned to be spent on the railway system, Arafat said. The ministry is seeking new sources of revenues, namely from advertisements. The ministry signed an advertising contract worth 1.3 billion pounds, Arafat announced, saying it is a first in the history of the Egyptian railway. The ministry started with developing the infrastructure and the cargo transport system. "The important thing is that Egyptians receive a service in exchange for the increase you want to implement and that the increase is convenient," President Abdel Fattah al-Sisi told Arafat. A total of 12.5 billion will be spent on projects for electrifying signals, the biggest amount to date to be spent on railway infrastructure in Egypt, Arafat said. “We will see a different railway system starting mid next year ... a qualitative improvement will be felt by March/April 2019," Arafat said. Signals modernisation on the Cairo-Alexandria line from an electromagnetic to an electric system will follow the Safety Integrity level 4, the highest level worldwide, Arafat said. Parliament's Transportation Committee approved last week amendments to allow the private sector to invest in the railway system through construction, management, and maintenance services. More»
Enas Shaaban , Sanaa Allam - 2018-01-08 13:42:21
The Turkish and Egyptian Businessmen Association (TUMIAD) is currently in talks to establish 50 plants in cooperation with Turkish businessmen, board member Hamada Al Agwany said. TUMAID has lately signed a memorandum of understanding to implement 40 plants in association with the Turkish businessmen. Al Agwany made his remarks during his tour in two machines factories located in Bursa, in Turkey, in the presence of Atilla Ataseven, the chairperson of TUMIAD. The Egyptian official further said he had met with more than 18 Turkish businessmen to discuss the possibility of their participation in the new industrial city that would be built in the 10th of Ramdan City. A number of machine manufacturers has expressed their readiness to open factories in Egypt and pump investments of $6 million in the new industrial city, he added. TUMIAD is set to implement the first integrated industrial city specialised in producing machinery and equipment in Egypt, spanning over one million metre squares with initial investments of 3 billion Egyptian pounds ($170 million). The announcement about the new city was made during the economic Turkish-Egyptian business forum held in Konya and Istanbul between  November 26th and  December 1st, entitled “Let’s Create Together” with the participation of 92 Egyptian and Turkish businessmen. Al Agwany  revealed that there would be a meeting with  the head of Industrial Development Authority, Ahmed Abdel Razek next Wednesday to attain the one million metre squares land to establish the anticipated industrial city. More»
Sanaa Allam - 2018-01-08 13:32:49
The volume of trade exchange between Egypt and Qatar rose by 3.4 percent, reaching around $1.346 billion during the first nine months of 2017, Egyptian state-run statics agency CAMPAS said Sunday. Trade exchange earlier stood at $1.301 million during the first nine months of 2016, CAMPAS further added in a bulletin sent to Amwal Al Ghad. Qatar captured 13.6 percent share of Egypt’s trade exchange with the Gulf Cooperation Council (GCC) states, recording about $9.858 billion during the January to September 2017 period. In September 2017, trade exchange between Egypt and Qatar fell 29.7 percent to $131.335 million from $185.202 million during the same period in 2016. “Egyptian imports from Qatar increased 2.4 percent to around $1.122 billion during the first nine months of 2017, compared with $1.096 billion during the same period in 2016,” CAMPAS referred. The imports dropped by 29 percent, reaching $116.202 million during last September against $163.664 million a year earlier. “Egypt’s exports to Qatar surged by 8.6 percent to $223.695 million during the January-September 2017 period from $205.937 million during the same period in 2016,” CAMPAS said. The volume of foreign trade between the two countries jumped by 86 percent to register $1.812 billion in 2016 from $1.039 billion in 2015. More»
Amwal Al Ghad English - 2018-01-08 10:43:41
Egypt aims to become among the 30 strongest economies worldwide by 2030, Minister of Industry and Trade Tarek Qabil said Monday.The industrial sector is one of the most important pillars to achieve the goals of Egypt Vision 2030, Qabil said at a ceremony on the occasion of inaugurating a number of projects in the 10th of Ramadan City in the presence of President Abdel Fattah al-Sisi. Egyptian government targets an 8 percent growth in the industrial sector this year and 21 percent by 2020, Qabil said. Egypt is adopting a 2020 industrial development strategy, which targets increasing the contribution of the sector in the gross domestic product (GDP) to 21 percent from 17 percent.In October, the Ministry of Industry launched the industrial investment map, which includes details about available opportunities in the industrial sector, aiming to reduce imports eventually. The map will be regularly updated with the latest developments in the sector.The map included 4,136 opportunities in eight sectors. Around 1,260 opportunities are in the engineering industries, 860 in the chemical industries, 640 in the food industries, 600 in the textile sector, 395 in the mining sector, 180 in the pharmaceuticals sector, 122 in the metal industries and 56 in the leather industries. More»
Amwal Al Ghad English - 2018-01-08 09:57:33
The Egyptian president Abdel Fattah Al Sisi has inugurated on Monday the 40 km Shoubra-Benha Road as a part of the national project for roads. The 40-kilometer- long road linking between Shoubra (Northern Cairo) and Banha city of Qalyubia Governorate. The President will be opening the Northeastern curve of the regional ring road with total length of 33.35 Kilo meter, established by the ministry of Transportation as part of the sector of 92 km of the regional ring  road. More»
Sanaa Allam - 2018-01-08 08:31:51
Egypt’s imports of consumer durable goods fell by 32.8 percent, reaching around $2.596 billion during the first nine months of 2017, said the county’s state-run statics agency CAMPAS on Saturday. The imports earlier rose to $3.863 billion during the January-September 2016 period, CAMPAS further added in a bulletin sent to Amwal Al Ghad. In September 2017, import bill declined by 5.1 percent to $330.374 million from $348.038 million in the same period a year earlier. “The Egyptian imports of passenger cars dropped to $2.066 billion during the first nine months of 2016, compared to $1.12 billion during the same period in 2015, with an 8.45 percent decline,” the agency stated. The bill of mobile devices reduced by 13.9 percent during the January-September 2017 period, registering $594.063 million, against $511.69 in 2016. Washing machine imports fell 15.4 percent to around $47.614 million, compared with $56.27 million, while refrigerator imports jumped 11.6 percent to $110.75m million from $99.221 million. The import bill of televisions increased by 85.5 percent, recording $421.618 million, against $227.22 million. More»
Amwal Al Ghad English - 2018-01-08 06:27:38
Centamin, operator of Egypt's only commercial gold mine, is targeting to pay some $137 million to the Egyptian Mineral Resource Authority (EMRA) in 2018, Chairman of mineral exploration and mining company Centamin Egypt Youssef el-Raghy said Sunday. He said that the EMRA’s profits from Sukari gold mine are expected to reach some $115 million in 2018, while the fixed royalty paid twice a year to EMRA is worth $22 million. In accordance with the terms of the Concession Agreement, EMRA is entitled to a share of 50 percent of SGM’s net production surplus. Raghy expected EMRO’s profits to increase if gold prices surpassed the current average of $1,250 per ounce. The Ministry of Petroleum-affiliated EMRA has obtained $260 million from the mine since the company started dividing profits with the government in October 2016, Raghy said. He added that the company targets producing between 550,000-560,000 ounces of gold in 2018, up from 540,000 in 2017. Sukari mine, the country's sole gold-exporting mine, produced around 100 tons of gold since it started operations in January 2010, Raghy said, stating that the average monthly production is spanning between 1.2-1.5 tons of gold. Exports from the mine represent two percent of Egyptian exports, according to Centamin’s data. Petroleum Minister Tarek el-Molla said in late December that the Sukari gold mine has contributed a total of $250 million in revenues to the government since it started production in 2009. The government has said that it aims to increase the mining sector's contribution to the GDP to more than five percent. It currently contributes around 0.5 percent of the GDP. Molla said that the government is working to identify the challenges facing the sector and that his ministry aims to boost investments by amending the sector's administrative and legislative system. Located in the south-easternmost region of the Eastern Desert, Sukari mine is the first large-scale modern gold mine in Egypt, with a base case production rate of about 500,000 ounces per annum, according to the official website of Centamin. More»
Amwal Al Ghad English - 2018-01-08 06:16:57
Encouraged by Egypt's economic reforms, a major gas find, streamlined business rules and a devalued currency, investors are increasingly optimistic about prospects for the North African country after years of political turmoil. Foreign holdings of Treasury bills hit a record high in December, foreign inflows into the stock market last year were the highest since 2010 and direct investment by foreign firms and private equity funds is on the rise again. Key for many longer-term foreign investors are the natural gas fields that have come on stream in the last few months, including the offshore Zohr field, whose estimated 30 trillion cubic feet makes it the largest in the Mediterranean. Iyad Malas, a Dubai-based partner of private equity firm Gateway Partners, said Zohr "will be a game changer for Egypt" and the company's fund, which invests in Asia, the Middle East and Africa, is looking at several opportunities in Egypt. The gas discoveries should eventually make Egypt a gas exporter and boost its plans to become a regional energy hub. Besides the gas, private equity firms say reforms launched since the end of 2016 that secured a $12 billion loan programme from the International Monetary Fund (IMF) have shifted sentiment enough to spur investment, despite the risks. More»