amwalalghad :: Investment

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        

Industry & Trade

Israeli Gas to Reach Global Markets via Pipelines to Egypt

Published 2014-08-21 08:01:57| Amwal Al Ghad English

In the midst of some of the worst Middle East tensions in a decade, one-time enemies Egypt and Israel are negotiating deals that may mean the sale of $60 billion in Israeli natural gas to liquefaction plants in Egypt. The talks come as Israel resumes air strikes on Gaza after Hamas, which the U.S. and the European Union classify as a terrorist group, fired rockets following a breakdown in Egypt's efforts to broker a ceasefire. The move is all the more improbable because Egypt -- little more than a year ago -- was under the sway of the Muslim Brotherhood, which had begun to steer the country away from viewing Israel as a trading partner. Noble Energy Inc. (NBL:US) and units of Israel’s Delek Group Ltd. (DLEKG) plan to deliver as much as 6.25 trillion cubic feet of gas from the Tamar and Leviathan offshore fields to LNG facilities in Egypt’s Damietta port and the coastal town of Idku. Executives said this week they expect to finalize the agreements by yearend. With Cairo peace talks to end the war in the Gaza Strip faltering, the trade agreements offer the potential to strengthen relations between the region’s largest economy and its most populous. The two offshore fields have more than enough gas to supply Israel for decades. The country is seeking a way export the excess and shipping it to Egypt will be faster than building LNG plants. “From these LNG plants in Egypt, Israeli gas can reach European and Asian markets,” said David Shrem, a Tel Aviv-based portfolio manager at Sphera Funds Management Ltd. The deals “are the first significant ones for regional exports.” Mediterranean Pipelines Noble, based in Houston, and the Delek units Delek Drilling-LP and Avner Oil Exploration LP, expect to send gas through pipelines under the Mediterranean Sea. They signed a non-binding agreement in June to deliver the fuel to BG Group Plc (BG/)’s LNG plant in Idku, and reached a similar deal in May to sell gas to Spain-based Union Fenosa Gas SA’s Damietta plant. Delek’s units expect those deals to be finalized by year-end, as per company filings, according to an e-mailed statement Aug. 17. That echoes comments made by Noble’s president and chief operating officer David Stover in July. Tamar started production last year and Leviathan is scheduled to begin output in 2018. The two accords provide for sales of as much as 6.25 trillion cubic feet of gas over 15 years, Noble and its Israeli partners said. That would be worth more than $60 billion at current prices in the U.K. Export Revenue The agreements would bring billions of dollars a year of export revenue to Israel. Exporting by pipeline would be faster than developing its own liquifying infrastructure, said Guil Bashan, an analyst at Tel Aviv-based IBI-Israel Brokerage & Investments Ltd., as building LNG plants would take years, cost billions of dollars and entail a long regulatory process. Under Egyptian President Abdel-Fattah El-Sisi, the former army chief who led the military’s removal of the Muslim Brotherhood last year, Egypt’s relations with Israel have improved. That’s opened a window for gas-export agreements as Israel’s prolonged conflict with Hamas fighters continues in the Gaza Strip. The Union Fenosa and BG plants in Egypt have been unable to fulfill long-term contractual commitments to European and Asian buyers as the country diverts gas to supply domestic consumers. That means Israeli gas would help achieve two important goals: meeting the country’s growing energy demands and maintaining public support, said Michael Leigh, a senior adviser to the German Marshall Fund of the United States. Gas Reversal The agreements would be a reversal from the past. Egypt used to export gas to Israel until a series of bombings against the Sinai supply pipeline led to its closing in 2012. Relations between Israel and Egypt deteriorated after former President Hosni Mubarak was overthrown in 2011, and his eventual replacement by Muslim Brotherhood leader Mohamed Morsi. The ouster of Morsi in July 2013 has led to better ties with Israel. Egypt helped broker cease-fire agreements between Israel and Hamas. Egypt’s Minister of Petroleum & Mineral Resources Sherif Ismail said Aug. 13 that no agreement has been reached regarding Israeli gas imports. Maya Etzioni, a spokeswoman for Israel’s Ministry of National Infrastructures, Energy and Water Resources, declined to comment. Turkey, another potential export destination, no longer appears to be an option. Turkish Energy Minister Taner Yildiz said this month there won’t be any gas deals with Israel unless a long-term cease-fire is achieved in Gaza. ‘Turkey Option’ “A pipeline to Turkey will not be built under current political conditions,” Leigh said. “The Turkey option faces serious political and economic constraints.” Israels has other export options. Noble and its Leviathan partners, Delek, Avner and Ratio Oil Exploration 1992 LP (RATIL), are considering a pipeline to Cyprus, according to an April investor presentation from Delek Drilling. And the Tamar partners signed an accord in February to supply Jordan-based Arab Potash Co. with fuel, starting in 2016. Guenther Oettinger, who leads European energy policy as a commissioner at the European Commission, said last month that the EU wants to encourage the development of Mediterranean oil and gas resources to secure sustainable and affordable energy. Israel’s island neighbor Cyprus has also made major gas discoveries under its seabed. “Recent developments concerning Russia and Ukraine have made energy security a top priority for Europe and the EU is scrutinizing all potential sources,” said Leigh, a former director general in the European Commission. “Greater attention will probably be focused on the Eastern Mediterranean and Israeli gas as a result.”
Tech news
Information Technology Industry Development Agency (ITIDA) has signed three agreements with International Data Corporation (IDC) with the aim of alluring direct foreign investments and boosting the Egyptian exports such as information technology services and products with the presence of Eng. Atef Helmy, Minister of Information and Communication Technology (ICT). The first agreement aims to launch 'Africa Together'  in order to help the local firms operating in IT sector and create new job vacancies. The second agreement targets to regulate and establish Regional Forum of the company which names 'IDC North Africa and Levant CIO Forum' in Cairo and this is the major forum which organized by the company across worldwide , gathering several local and global experts, institutions and IT firms. The third agreement eyes ITIDA to make the best use of Industry Technology Advantage Program (ITAP) and this program allows large base of reports , data and statistics which up to more than 5000 reports that cover several fields, sectors and markets.
Internet News
Google Inc is buying JetPac Inc, the startup that designs social travel applications disclosed on its website on Friday, without providing details. "We'll be removing Jetpac's apps from the App Store in the coming days, and ending support for them on 9/15," stated a posting on JetPac's homepage. ( San Francisco-based JetPac has created a mobile application that uses pictures from various social networking sites to create city guides. Earlier this year, Google bought Nest Labs Inc, which makes smart thermostat and smoke alarms, for $3.2 billion, making the deal one of the largest in Google's history. Google was not available for comment outside of normal business hours.