amwalalghad :: Industry & Trade

Your English Portal To Arab Economy

Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        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        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        Egyptians Housing Development    1.94        United Arab Shipping   0.43        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        National Real Estate Bank for    11.84        Egyptian Chemical Industries (   7.26        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        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        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

Amwal Al Ghad English - 2014-08-28 08:13:52
Egypt's Qalaa Holdings plans to sell non-core assets worth over USD 500 million over the next three years, managing director Hisham Khazindar said. "There are 10 companies that will be sold for total proceeds of USD 700 million. This figure includes the earlier sale of our stake in Sudanese Egyptian Bank for around USD 22 million and of Sphinx Glass Company for about USD 114 million," Khazindar told Zawya. "Any investments outside our main sectors, whether in banks, financial services or trade, will be sold," he said, adding that the divestment plan would be carried out over the next three years. Khazindar said Qalaa was currently in talks with some investors, but that negotiations had "not entered the serious stage". He declined to give further details. Qalaa Holding, formerly Citadel Capital, transformed from a private equity firm to an investment holding structure and focuses on the energy, cement, mining, agrifoods, transportation and logistics sectors. According to the company website, non-core assets include GlassWorks, United Foundries Co, Finance Unlimited, Grandview, Bonyan, National Petroleum Company, Nile Valley Petroleum, NOPC Rally Energy Group and Tanweer. Earlier this month Qalaa Holdings said it concluded the sale of a 73.3% stake in Sphinx Glass to Saudi Arabia's Construction Products Holding Company, for cash proceeds of around EGP 508 million to Qalaa after the estimated capital gains tax. It sold its full majority stake in the Sudanese Egyptian Bank to the Islamic Solidarity Bank of Sudan. Qalaa Holdings reported revenues of EGP 1.4 billion in the first quarter of 2014, up 14% from the same period a year earlier. More»
Amwal Al Ghad English - 2014-08-28 07:44:48
RWE Dea AG has started gas production from the central treatment plant (CTP) of the Disouq development project in Egypt. Production started at 45 MMscfd and has reached about 90 MMscfd. With the North West Khilala gas plant, producing since September 2013, the Disouq rate is about 150 MMscfd. The CTP is “a significant milestone in advancing production growth from our Egyptian assets,” said Dirk Warzecha, chief operating officer of RWE Dea AG. “We started the project during difficult times in the country, which required special measures for security and logistics.” The company expects increases in the CTP and North West Khilala to result in production of about 200 MMscfd in 2015. Maximilian Fellner, general manager of RWE Dea Egypt, said the company plans to connect seven additional wells to the CTP and bring them on stream in 2015. The CTP produces gas from five wells three fields: North Sidi Ghazy, South Sidi Ghazy, and North West Sidi Ghazy. Gas produced from the North West Khilala field is processed in the North West Khilala gas plant. The Disouq project encompasses development of seven gas fields in the Nile Delta. RWE Dea’s partner in the project is Egyptian Natural Gas Holding Co. Production is operated by the joint venture Suez Oil Company. RWE Dea has 10 onshore and offshore concessions in Egypt. With the launch of the CTP, RWE Dea will boost its oil and gas production in Egypt by 50% to 44,000 boe/d. More»
Sara Emam & Islam Salah - 2014-08-27 12:31:49
Saudi-based Construction Products Holding Company (CPC) is planning to pump around US$80 million worth of new investments in Egypt through constructing three plants soon. Referring to the three projects, Riad Kiwan - Chief Operating Officer at CPC – revealed that his company plans establishing an aluminum plant at an investment cost of US$40 million, a glass coloring plant at US$15 million, and a construction aluminum plant at US$20 million. Furthermore, Kiwan also said CPC is aiming to acquire an Egyptian building materials company in the coming phase, as part of its plans to strengthen its presence in the local market. CPC signed on Tuesday an EGP 816 million agreement to fully acquire Sphinx Glass, a subsidiary of Egyptian equity firm Qalaa Holdings. More»
Amwal Al Ghad English - 2014-08-27 10:31:14
Egypt plans to get benefit from the Chicago Mercantile Exchange (CME)'s wide expertise, seeking to establish its first and biggest commodities exchange in the Middle East. Egypt's Minister of Supply Khaled Hanafy announced Wednesday that his country, represented in officials from the Armed Forces, Cabinet and Arab Contractors Company, will start a number of meetings with CME chairman and board members. The meetings aimed to review means of technical cooperation and support between the two countries to build the first commodities exchange in Egypt and the Middle East, dedicated for the grains and wheat. The Egyptian minister headed Sunday to the U.S. for a three-day visit, during which among other missions, he had signed contracts worth EGP 3.206 billion for three mega logistics projects in Egypt with Bloomberg L.P. Company aimed at improving grain storage and distribution. The first project will be worth EGP 700 million(US$97.8 million) and establish a factory specialized in producing storage technology and modern logistics to serve the local market, along with exporting to Arab and African countries. The second project, at value of EGP1.1 billion (US$153.8 million), is to establish ten fruit and vegetable canning facilities, aiming to reduce the costs and to provide fresh vegetables and fruits for citizens. Moreover, the third project, worth EGP 1.3 billion ($181.7 million), is about the restructuring and renewing 164 Egyptian wheat silos, along with applying modern storage technology to avoid waste, and reducing the cost of goods by 30%.Egypt, the largest wheat exporter, is seeking wheat self-sufficiency by 75% in the coming three years. More»
Amwal Al Ghad English - 2014-08-27 09:12:02
The Egyptian-Qatari Business Council chaired by Dr. Moharram Helal was suspended from operations ten days ago, said Egyptian businessman and vice president of the council Ahmed Abou Hashima on Tuesday. The council has never interfered in any political matters between the two countries, Abou Hashima stated. However, he criticised the Qatari political approach taken against Egypt. "Whenever there is a hostile attitude towards my country on the ground … then Egypt comes above all." added Abou Hashima.Meanwhile, an Egyptian government official, who spoke on condition of anonymity, announced to Al-Masry Al-Youm, that Qatar is seeking the return of its $3 billion deposited in the Central Bank of Egypt (CBE). In return, CBE Governor Hisham Ramez said Egypt will pay back $500 million to Qatar in October, according to Egypt Independent. In a phone call with Sada al-Balad TV, Ramez said Egypt will pay for all the requirements without being economically affected. More»
Amwal Al Ghad English - 2014-08-27 08:17:28
As tensions rise in Syria and Iraq, Egyptian buses seem to be the only ride pilgrims have left. Domestic pilgrimage companies have signed contracts with Egyptian companies due to the immobility of Turkish vehicles coming through the war-torn companies. The reduced number of domestic pilgrims, numbering about 105,000, need around 2,100 buses, said Saad Jameel Al-Qurashi, chairman of the transportation committee and a member of the Board of Directors at the Makkah Chamber of Commerce and Industry (MCCI). Al-Qurashi explained that another 820 buses will be needed for around 41,000 people who will be coming with the low-cost pilgrimage program. The new procedure will also be economically efficient, as Egyptian buses are much cheaper than their Turkish counterparts. An Egyptian bus costs SR20,000 to SR25,000 to rent out with a driver, while Turkish vehicle ranges between SR22,000 and SR30,000. Saudi buses, meanwhile, were out of the competition, with a soaring rental rate of anywhere between SR35,000 and SR50,000 per bus. Al-Qurashi, nevertheless, said that Egyptian buses must abide by transport authority regulations and will arrive through the Duba and Nuwaibi ports. Around 25,000 to 30,000 pilgrims will fly on eleven Saudia flights. Pilgrims also arrive at King Khalid International Airport in Riyadh and King Fahd International Airport in Dammam. More»
Sanaa Allam - 2014-08-26 14:52:00
 Governor of Kafr El-Sheikh Mohamed Agwa revealed that fishing port in Borg Meghezel-Kafr El Sheikh Egypt will be established this year with EGP250 million total investments. Kafr  El Sheikh obtained the approval of planning and housing ministries to establish the port within 2 years, stressing that the project comes among the governorate's plan to develop fish resources, the governor noted. He added that the governorate has recently agreed to establish bourse for fishes on an area of 10 feddan in Sidi Salem. Moreover, the port is one of the investment projects with social dimension in addition to contributing in increasing fish resources along with preventing indiscriminate fishing. More»
Hesham Ibrahim - 2014-08-26 12:31:46
Egypt-Korea Business Council announced a proposal to establish a mega industrial zone for the Korean industries in Egypt, said chairman Sherif El Gabaly. El Gebaly further told Amwal Al Ghad that the industrial zone is the first of its kind in Egypt for South Korea's industries, notably to focus on the car feeding industries.The volume of trade exchange between Egypt and Korea stands at US$2.5 billion approximately. Egypt's exports to the Korean market are mainly in sectors of petroleum; while Korea's exports to Egyptian market are mainly in areas of car industry and electrical appliances. More»
Sanaa Allam - 2014-08-26 11:00:08
The board of Egyptian Chemicals and Fertilizers Export Council donated Monday 50% of their revenues (one million Egyptian pounds) to 'Long Live Egypt' Fund. As pursuant to the 13th board meeting, the CEC's board of directors has donated EGP 1 million to 'Long Live Egypt' Fund, treasurer member Ahmed Hagras told Amwal Al Ghad. The 'Long Live Egypt' Fund was originally initiated by Egypt's President Abdel Fattah al-Sisi to support and revive the cash-strapped national economy. Out of CEC's total contribution, board member Abdul Aziz al-Shafii – Chairman of Al-Amal Company for Pipes - has donated half a million pounds to the fund, he added. Hagras further referred that the donations come as a result of the board chairman Walid Helal's calls for the board members and CEC-listed companies to contribute the fund, to give a strong support for the national economy. More»
Amwal Al Ghad English - 2014-08-26 08:36:23
Investor Warren Buffett is helping finance Burger King Worldwide Inc.’s BKW, +19.51% planned takeover of Canadian coffee-and-doughnut chain Tim Hortons Inc. THI, +18.91% THI, +19.26% according to people familiar with the matter, in a surprise twist that could add to investors’ enthusiasm for the deal. The Berkshire Hathaway Inc. BRK.B, +0.35% chairman and chief executive would invest in the deal in the form of preferred shares, some of the people said. Berkshire is expected to provide about 25% of the deal’s financing, one of the people said. The exact structure of Mr. Buffett’s participation in the deal remains unclear, and the discussions are ongoing. The takeover, likely valued at around $10 billion or more, could be announced in the next day or two, according to the people. Shareholders cheered the potential tie-up Monday, after the companies confirmed they were in discussions, sending stock in both companies soaring nearly 20%. Mr. Buffett’s participation in the deal may add to that enthusiasm given his reputation for shrewd investing. More»