amwalalghad :: Industry & Trade

Your English Portal To Arab Economy

GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        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        Misr Chemical Industries   5.65        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        Egyptian Chemical Industries (   7.26        National Real Estate Bank for    11.84        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        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        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        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        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 - 2018-02-22 10:40:03
The net profits of Egypt’s Delta Company for Printing and Packaging increased to five million Egyptian pounds ($282,300) during 2017, announced financial statements on Thursday. Earlier, profits earlier stood at 387,000 pounds during 2016. Delta Company for Printing and Packaging was established in 2004 in Borg El-Arab City, 60km (37.3 miles) away from southwest of Alexandria. It is engaged in the manufacture of packaging materials. The Company is active in producing, manufacturing, printing packaging, and wrapping materials, notably cardboard, paper, plastic and multi-layer materials. More»
Amwal Al Ghad English - 2018-02-22 07:04:17
Egypt's cotton exports dropped by 36.7 percent in the first quarter of the agricultural season of financial year 2017/2018 (September to November 2017), said the county's stat-run statics agency CAPMAS on Wednesday. Total cotton exports amounted to 128,300 metric quintals in first quarter of financial year 2017/2018, compared to 202,500 metric quintals in the corresponding period last year, the CAPMAS further added. The state-run statistics agency last said that cotton exports of the North African nation dropped 38.4 percent in fourth quarter of the current financial year (June to August 2017) to 86,200 metric quintals, versus 139,900 metric quintals in the same period of 2016. More»
Amwal Al Ghad English - 2018-02-22 06:56:49
Egypt's President Abdel Fattah al-Sisi said on Tuesday that the dream to turn Egypt into a regional energy hub is becoming a reality, referring to a number of gas deals recently signed in the country. The president made the comments while opening a number of investor service centres across the country. Sisi commented on the controversial $15 billion gas deal brokered between two Israeli companies and private Egyptian company Dolphinus, saying that Egypt has "nothing to hide about this deal." "Egypt is now one of the few countries in the Mediterranean region that owns facilities fully capable of providing all oil-related services," Sisi said, adding that Egypt will use these facilities to liquefy the imported gas for later export or for use in industry. Sisi said that Egypt has developed these facilities before other countries in the region like in Lebanon, Israel, Cyprus and Turkey, which will allow Egypt to benefit by having oil from Mediterranean countries liquefied in Egypt. "We had to take advantage of this opportunity to attract Cypriot, Lebanese and Israeli gas in preparation for liquefaction and export," he said. "We scored a goal," Sisi said in Egyptian colloquial slang, referring to the recent gas deals and other achievements in the gas sector, though he stressed that these agreements are reached by the private sector and not the state. On Monday, two Israeli companies–Tamar and Leviathan– signed the deal with the Egyptian private company Dolphinus to sell gas to Egypt worth $15 billion. The two Israeli companies will export as much as 64 billion cubic metres of natural gas to Egypt over 10 years. "Egypt will benefit financially from this process on a very large scale, now all the gas in the region is coming to us to be exported," Sisi said, adding that he is "happy" with the interest Egyptians have shown over the past few days over the gas situation in the country. Sisi affirmed that Egypt has taken another step towards becoming a regional energy hub, which will have "many benefits." "I know people may ask how is it that we have just inaugurated the Zohr gas field to achieve self-sufficiency, but we are still exporting gas from other countries, but I assure you we are doing this according to market mechanisms," El-Sisi said, referring to the super-giant Zohr gas field in the Mediterranean, which Egypt hopes will help it achieve its goal of self-sufficiency in the supply of liquefied natural gas (LNG). Production from the field is expected to increase to 1 billion cubic feet per day (bcfd) by June 2018, marking the end of the first production stage and granting Egypt self-sufficiency in LNG supply. The second stage of production from the field is due to be finalised by the end of 2019 when production reaches 2.7 bcfd. The Zohr, North Alexandria and Noras fields are expected to increase Egypt's natural gas output by 50 percent in 2018 and 100 percent in 2020, the Ministry of Petroleum said in October. The country passed a new natural gas law last year that allows for competition in the market by granting licenses to import gas for private companies. More»
Amwal Al Ghad English - 2018-02-21 11:57:46
Sewedy Electric Engineering and Trade, a subsidary of El Sewedy Electric Co, has signed a KWD 5.5 million ($18.4 million) to implement a lighting system in Kuwait. Upon the contract, Sewedy Electric Engineering, in which Elsewedy Electric holds a 49% stake, will upgrade and install lighting systems in the streets of the wealthy Gulf state, in addition to managing the central lighting power, according to a statement to the Egyptian Exchange (EGX) on Wednesday. The project is set to be carried out 24 months, and construction is expected to commence in March 2018, the company indicated. Elsewedy Electric’s capital amounts to 2.18 billion Egyptian pounds distributed over 218.4 million shares at a par value of EGP 10 per share. More»
Amwal Al Ghad English - 2018-02-21 06:53:44
Egypt’s petroleum ministry responded on Monday to news of a massive gas deal between Egyptian private company Dolphinus and Israeli gas firms, saying it makes "no comment on negotiations or deals involving private sector companies over importing or selling natural gas." In press statements on Monday evening, Egypt’s petroleum ministry spokesman Hamdy Abdel Aziz said the ministry would deal with any permit or license requests by the private sector in accordance with applicable regulations, in light of Egypt’s strategy of becoming a regional hub for energy. He added that the government has been taking measures to liberalize the natural gas market, putting in place a regulatory framework that allows private companies to use the national gas grid to trade within approvals and requirements laid down by the Gas Market Regulatory Authority. The statements come hours after Israel's Delek Drilling company announced that Egyptian private company Dolphinus is set to import gas from Israel worth $15 billion, pending regulatory approval from both countries. The partners in Israel’s Tamar and Leviathan natural gas fields, led by Israeli firm Delek and Texas-based company Noble, signed two deals on Monday to sell gas to Egyptian gas trading company Dolphinus over a ten-year period. Total revenues from the Tamar and Leviathan projects are estimated to be $7.5 billion each. The total quantity of gas contracted in the Leviathan and Tamar agreements is approximately 32 billion cubic metres (bcm) for each agreement, which corresponds to up to 3.5 bcm per year. Israel hailed the agreement, announcing it as a "historic" one, in statements by Israeli Prime Minister Benjamin Netanyahu. Egypt has repeatedly affirmed its aim of becoming a regional energy trading hub, especially following new gas discoveries and a new natural gas law last year that allows for competition in the market by granting licenses to import gas for private companies, ending a state monopoly on the sector. In December, petroleum minister Tarek El Molla said that Egypt will achieve self-sufficiency in natural gas before the end of 2018. Mammoth gas gield Zohr and the North Alexandria and Nooros fields are expected to increase Egypt's natural gas output by 50 percent in 2018 and 100 percent in 2020, the Ministry of Petroleum said in October. More»
Amwal Al Ghad English - 2018-02-21 06:49:56
The amendments passed by Egypt’s parliament last week to the Capital Markets Law are credit positive for banks, announced credit rating agency Moody’s in a report on Monday. The agency says the amendments make the country more appealing for foreign investors, highlighting the “facilitation of sukuk issuance [bonds that generate returns in a way that complies with Islamic Sharia] and investors’ ability to hedge.” A hedge is an investment that reduces the risk posed by an asset’s price changes, such as using futures contracts. Futures contracts are used to hedge risks, as they consist of two parties agreeing to trade an asset at a time in the future at a determined price. Amendments to the law include the introduction of futures trading, a commodities exchange, increasing penalties for financial crimes, establishing privately-owned stock exchanges, and the reduction of listing fees to 0.002% from 0.005% to help small and medium enterprises find new sources of funding by listing on exchanges. “The amendment is credit positive for banks because the increased capital markets activity will raise banks’ income from their debt capital markets business while also providing funding options,” Moody’s said. The main sources of funding for banks are deposits, which represented 71% of non-equity liabilities for banks as of last October. “Furthermore, the income banks earn from their debt capital markets activity will increase, diversifying their operating income, which is heavily reliant on interest income earned from investment in government bonds,” the report reads. “As of October 2017, government bill and bond investments accounted for 31% of banking system assets and contributed more than 41% to banks’ interest income,” the report adds. The law is expected to boost the competitiveness of Egypt's economy and to support the non-banking financial sector to achieve financial inclusion, Investment Minister Sahar Nasr said last week. Moody’s had affirmed in Egypt's long-term issuer and senior unsecured bond ratings at B3, maintaining a stable outlook, last August. Egypt’s rating has been unchanged since then, given the country's high debt levels. More»
Amwal Al Ghad English - 2018-02-20 09:58:43
Siemens announced its largest ever software grant in Egypt. The USD$120 million industrial digitalization software grant will be used to support training, education and higher degrees of research in Cairo, Ain Shams and Alexandria, the largest among the Egyptian universities.The grant was announced at a signing ceremony hosted by Siemens, in partnership with the three universities, and in the attendance of Joe Kaeser, President and CEO of Siemens AG, as well as other business leaders and academia experts. More»
Amwal Al Ghad English - 2018-02-20 09:42:10
Heavy tariffs and quotas on steel will hurt China, but other countries may well bear the brunt of such measures. "The fact is that China does export a lot of steel and aluminum to the United States, but frankly, Canada, Brazil, Mexico, other countries import more steel than does China," said Max Baucus, former U.S. ambassador to China, which is the world's top overall steel exporter. On Friday, the Commerce Department recommended imposing heavy tariffs or quotas on foreign producers of steel and aluminum in the interest of national security, following a trade investigation of imports. The metals are used in a wide range of industrial applications including infrastructure and cars. President Donald Trump and his administration announced the investigation into steel and aluminum importation in April. It sought to determine whether the imports posed a threat to the country's national security. More»
Amwal Al Ghad English - 2018-02-20 07:38:05
Secretary-General of the Khalifa International Award for Date Palm and Agricultural Innovation Abdul Wahab Zayed said the UAE government would implement three projects for the production of dates in Egypt, with investments totalling 40 million pounds.In statements to MENA on Monday, Zayed said the first project will be for the development and operation of Siwa dates factory, which has already put Egyptian dates on the international market's map.The second project is related to a dates factory that will be inaugurated in the New Valley governorate within six months at a cost of 15 million pounds. Regarding the third project, it will be connected with drawing up a strategy for making Egypt a hub for planting, processing and exporting dates, the UAE official noted. Meanwhile, Zayed stressed the importance of the Siwa dates exhibition, which attracts many exporters especially from Asia and helps in opening new markets for Egyptian dates in different parts of the world. More»
Amwal Al Ghad English - 2018-02-20 07:29:30
Egyptian private company Dolphinus is set to import gas from Israel worth $15 billion, pending regulatory approval from both countries, Israel's Delek Drilling company announced on Monday. Partner companies in Israel’s Tamar and Leviathan natural gas fields signed two agreements on Monday to sell gas to Egypt’s gas trading company Dolphinus, according to a statement by Delek Drilling, which is a partner in both fields. Total revenues from the Tamar and Leviathan projects are estimated to be $7.5 billion each. The total quantity of gas contracted in the Leviathan and Tamar agreements is approximately 32 billion cubic meters (bcm) for each agreement, which corresponds to up to 3.5 bcm per year. “I welcome the historic agreement that was announced on the export of Israeli gas to Egypt. This will put billions into the state treasury to benefit the education, health and social welfare of Israel's citizens,” Israeli Prime Minister Benjamin Netanyahu said on Twitter. The Natural Gas Regulatory Authority is not aware of the signing of such agreements, Authority chairman Karem Mahmoud told Ahram’s Arabic news website. Mahmoud added that companies have the right to sign agreements to import or export gas, but such agreements must be presented to the authority for approval (or rejection). Indeed, the export agreements are pending a number of conditions, including regulatory approvals from Israel and Egypt, such as import and export permits. “It is clarified that there is no certainty that the sale of the gas to the Buyer according to the Export Agreements will occur, and this due to the non-fulfilment of the conditions precedent to the Export Agreements, all or any part thereof,” according to the statement. Egypt passed a New Natural Gas Law last year that allows for competition in the market by granting licenses to import gas for private companies. The law also creates an independent body to regulate the market. The price for the natural gas to be imported from Israel under the two agreements will be determined by a “price formula linked to the price of Brent oil barrel,” the statement read. As for transporting the gas, “The Sellers and the Buyer are evaluating various potential options for transporting the gas to Egypt including using the Pan Arabian pipeline via Jordan and/or entering of the Sellers into negotiations with EMG and all or part of its shareholders for the transportation of gas via the existing EMG pipeline to Egypt,” the statement read. “Furthermore, the Sellers are also evaluating the option for an additional on-shore pipeline connecting the Israeli gas grid and Egypt,” the statement added. Gas supply under the Tamar agreement should begin once the transportation infrastructure for gas to Egypt is in operation. Supply under the Leviathan agreement is expected to begin when production starts from Leviathan reservoir. Supply is expected to continue until the whole contracted quantity of gas is supplied, or in December 2030, whichever comes earlier. Delek Drilling – Limited Partnership owns 45.34 percent of the Leviathan Project and 22 percent of the Tamar project. Petroleum Minister Tarek El Molla said in December that Egypt will achieve self-sufficiency in natural gas before the end of 2018. Zohr, North Alexandria, and Nooros gas fields are expected to increase Egypt's natural gas output by 50 percent in 2018 and 100 percent in 2020, the Ministry of Petroleum said in October. The government is aiming to turn Egypt into a regional energy trading hub. More»