amwalalghad :: Industry & Trade

Your English Portal To Arab Economy

Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Pioneers Holding   2.84        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        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        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        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        Credit Agricole Egypt   9.04        Palm Hills Development Company   1.61        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        Prime Holding   0.91        Al Arafa Investment And Consul   0.17        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

Hisham Ibrahim, Sanaa Allam - 2018-01-02 12:47:35
The Ministry of Industry is currently finishing procedures of 7 new licensed industrial complexes in Upper Egypt during the first half of 2018 Minister of Industry and Foreign Trade Tarek Qabil said Tuesday. The complexes will be located in Aswan, Luxor, Qena, Sohag, Asyut, Minya and Beni Suef. The minister has made those remarks during his visit to Qena Tuesday morning, along with Minister of Planning Halael-Said, to follow-up on the development works  there. This comes as part of the ministry of trade plan to launch 13 new licensed industrial complexes within the presidential initiative to create new job opportunities for the youth. More»
Hisham Ibrahim, Sanaa Allam - 2018-01-02 11:36:58
Egypt's Ministry of Industry has pumped 150 million Egyptian pounds ($84 million) in favour of Qena governorate as part of a World Bank-funded programme for the development of Upper Egypt areas, Minister Tarek Qabil announced Tuesday. The money will go for developing the infrastructure of two industrial zones in Qena, where each of them received 75 million pounds, Qabil said. Launched in March last year, the World Bank's $500 million Local Development Programme focuses on developing and rehabilitating six industrial zones, two in Qena and four in Sohag, which are among the poorest in the country. The goal of the programme is to empower sub-national governments in these areas to deliver better infrastructure and services for economic development, job creation and social wellbeing. The programme also seeks to  improve the business environment for private sector coordination and investment, strengthen local government capacity for quality infrastructure and service delivery in selected governorates in Upper Egypt and create more sustainable jobs.It programme aims to "enhance the competitiveness of economic sectors with unrealised potentials, support industrial zone management, apply a performance-based grant system and increase the budget of both governorates," Egypts international cooperation ministry said in previous statement. Upper Egypt, which includes ten governorates, is home to about 38 percent of Egypt’s population and 67 percent of its poor, the bank said. This programme comes within the framework of the World Bank's Country Partnership Framework (CPF) for 2015–19, which provides about $8 billion to support vital sectors of Egypt's economy, the statement read More»
Amwal Al Ghad English - 2018-01-02 06:42:49
Egypt is planning a 2018 global auction for petroleum and gas drilling in the country’s southern and Red Sea areas, Petroleum Minister Tarek El-Molla announced in Monday. El-Molla said Egypt will witness the first auction in the designated areas as soon as the two areas’ geophysical data are collected. He added that 12 new gas deals with investments worth $433 million as a margin were currently being prepared. The minister also highlighted Egypt's 2018 goal of reaching self-sufficiency in liquified natural gas (LNG) supply, achievement of which is set to follow the completion of the first stage of super-giant Zohr gas field and the second stage of North Alexandria and western Mediterranean (Giza and Fayoum) gas fields. El-Molla said that 2018 will also witness the finalization of Northern Damietta’s offshore gas field, Atoll, which was discovered by British Petroleum (BP) in March 2015 and approved between BP in collaboration with Egyptian Natural Gas Holding Company (EGAS) in June 2016. Last December, experimental production began at Zohr at an initial 350 million cubic feet per day (mcfd), an event eagerly awaited since the field was discovered by Italian energy company Eni in 2015. The mammoth gas field’s production will increase to 1 billion cubic feet per day (bcfd) by June 2018, as the first phase is finalized, allowing Egypt to achieve self-sufficiency in LNG supply. Egypt was a net exporter of LNG until 2014. However, it became a net importer in recent years due to a declining output and power shortages amid political turmoil. In October, El-Molla announced that $27.3 million would be invested in three Egyptian natural gas fields – Zohr, North Alexandria, and Nooros – during 2018. The three gas fields are expected to raise Egypt's natural gas output by 50 percent in 2018 and 100 percent in 2020, according to the ministry. More»
Amwal Al Ghad English - 2018-01-02 06:29:37
Egypt’s 2017 trade deficit fell 26 percent year on year by $12 billion, the trade ministry said on Monday. Imports declined in the first 11 months of 2017 to $51 billion from $61 billion the same period in 2016, and exports increased to $20.4 billion from $18.4 billion, the ministry said in a statement. It said it expected exports to reach 22.4 for the whole of 2017, compared to 20.4 for the whole of 2016. It did not give a figure for the current trade deficit. Foreign trade improved thanks to more exports from industries such as chemicals and fertilizer, clothing and electronics, it said. Import-dependent Egypt has been trying to curb a big trade deficit and boost domestic industries after a years-long hard currency shortage that has sapped its ability to purchase from abroad and has hit business activity. Egypt has seen its exports grow and imports tumble since it floated its currency in November 2016, roughly halving it in value overnight. Its goods have become more competitive on international markets while Egyptians’ purchasing power for foreign goods has fallen. More»
Amwal Al Ghad English - 2018-01-01 08:46:31
Value Added Tax (VAT) has been introduced in Saudi Arabia and the United Arab Emirates for the first time. The 5% levy is being applied to the majority of goods and services. Gulf states have long attracted foreign workers with the promise of tax-free living. But governments want to increase revenue in the face of lower oil prices. The tax kicked in on 1 January in both countries. The UAE estimates that in the first year, VAT income will be around 12 billion dirhams (£2.4bn; $3.3bn). More»
Amwal Al Ghad English - 2018-01-01 07:58:24
Egypt’s Ministry of Agriculture announced that it would impose stricter inspection measures of Egyptian fruits, including guava and pomegranate, in 2018 before exporting them to foreign markets, which the ministry expects will increase Egyptian fruit exports. The measures aim to reduce the number of rejected agricultural shipments in the international markets, the ministry said in a statement on Saturday. It added that the General Administration of Agricultural Quarantine in Cairo and Ganoub al-Wadi [South Valley] will receive inspection and exportation requests pertaining to guava and pomegranate fruits. A committee assigned by the Agricultural Quarantine Administration will do the initial inspection of the two fruits at the production locations. The statement clarified that the agricultural products will also be submitted to lab analyses to discover pesticide residues. Saudi Arabia has banned the import of Egyptian guava due to the high percentage of pesticide residue which do not reach international health and safety standards, official sources from the Agriculture Ministry said on Thursday. More»
Amwal Al Ghad English - 2018-01-01 07:46:12
Egytrans, a leading transport and logistics company, said Sunday its board approved the budget for 2018, forecasting a targeted net profit worth 33.5 million Egyptian pounds ($1.9 million). Egytrans’ board also projected that the company will conduct business activities valued at around 185.2 million pounds, according to a filing to the Egyptian Exchange (EGX). The transport company further approved amendments to Egytrans’ 1.1 million pounds contract with Etal for Electrical and Mechanical Industries in return for storage rights at Egytrans’ private garage. Furthermore, Egytrans approved the purchase of three trucks for 1.38 million pounds to continue the land-transport project, the statement showed. Egytrans last reported soaring profits by 4,811 percent to 20 million pounds in the third quarter of 2017 from 408,700 pounds in the year-ago period. As for the first nine months of 2017, Egytrans’ consolidated profits stood at 81.67 million pounds, a rise from 21.6 million pounds in the corresponding period of 2016. More»
Amwal Al Ghad English - 2018-01-01 07:32:20
The gold price climbed 7 Egyptian pounds domestically on Saturday, driven by global price hikes, amid a state of unprecedented stagnation on the domestic market. Member of Egypt’s Jewelers Division Amir Rizk said that the market is stagnating with the price of one ounce of gold (31 grams of 24-carat) currently set at US$1,300. Rizk said that people have turned away from investing in gold recently, instead going for bank deposits with high interest rates as well as purchasing land plots and real estate, especially in the New Administrative Capital and new cities. This has led to cash withdrawal from the gold market. “The market is going through a complete recession that we have not seen for years, given the high prices and recent terrorist events,” Rizk said in statements to Al-Masry Al-Youm. The average price of 24 carat gold was 731 pounds, and the 21 carat gold was 639 pounds, while 18 carat gold reached 548 pounds, and 14-carat gold 426 pounds. More»
Amwal Al Ghad English - 2018-01-01 06:57:12
Egyptian companies will begin applying price tags to food products starting Monday or else be subject to legal penalties, state-run news agency MENA quoted Minister of Supply and Internal Trade Ali Moselhi as saying on Sunday. The statement follows decree issued by Moselhi in October 2017 obliging all food companies to print a clear, inerasable price label on all products before the 31 December deadline for dealers to sell any unlabelled products. The decision aims to better regulate Egypt's internal food market in line with wider economic reforms, and applies to companies that produce food products locally as well as those that package imported products. Moselhi directed the relevant sectors of his ministry to begin the guidance application of the decree in January, with intensifying awareness campaigns and auditing of stores, and notifying merchants of any violation. The decree prohibits dealing with un-priced products anywhere on the supply the line; whether in retail, packing or distribution. It also imposes penalties on those who violate the law with one to five years in prison and a fine between 300 pounds and 1,000 pounds, in accordance with Article 9 of the compulsory pricing and profit regulation law. The minister also stressed the prohibition on the circulation of goods or objects that have no documented source. Moselhi highlighted that price tags and tax bills are the main mechanisms for regularizing the internal trade sector of the economy, which represents between 17 percent and 20 percent of the Gross National Product in regular cycles. In November 2016, Egypt floated its currency, slashing the value of the pound by half and triggering heavy inflation. However, Egypt's annual urban consumer price inflation fell to 26 percent in November from 30.8 percent in October, according to the official statistics agency CAPMAS . Egypt has been pushing ahead with a series of austerity measures, including fuel and electricity subsidy cuts, to help ease the country's gaping budget deficit. More»
Mahmoud Shabaan - 2017-12-31 11:18:09
The total value of  petroleum receivables owed to foreign companies dwindled to $ 2.3 billion by the end of June 2017, Minister of Petroleum Tarek El-Molla announced on Sunday . Molla further explained that the figure reach its lowest  levels since 2013, when it recorded $6.3 billion. The Ministry of Petroleum referred that this year has witnessed  the beginning of establishing a comprehensive strategy to change Egypt into a regional center for trading gas and oil  as well as the issuance of oil market activities law by a presidential decree. More»