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        Cairo Poultry   8.32        ARAB POLVARA SPINNING & WEAVIN   2.11        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 - 2014-04-23 10:00:15
The value of Egypt’s exports are expected to reach EGP 170 billion, said Minister of Trade, Industry, and Investment Mounir Fakhry Abdel Nour. In 2013, the Egyptian exports were valued at EGP 145 billion. Speaking to “10 O’clock Show” on Dream TV Channel on Tuesday, the  Egyptian minister referred that the upcoming phase requires focusing on one of the economic vivid sectors to occupy a leading position. More»
Amwal Al Ghad English - 2014-04-23 09:08:44
The Egyptian tycoon and founder of Orascom Group, Naguib Sawiris, is planning to inject huge investments in gold exploration in Egypt, said the Ministry of Petroleum and Mineral Resources on Tuesday. Sawiris met with petroleum officials last week to reveal his plans to invest in mining sector, particularly gold exploration, Al Masry Al Youm newspaper said. More»
Enas Shaban - 2014-04-22 10:07:48
Agrocorp new state-of-the art factory for Agricultural investment is aiming to attain EGP490 million exports within the ongoing year move up by 20% growth rate in compared to 2013, CEO Saif Sadiq revealed. EGP40 million fresh investments have been pumped in this year in order to increase 20% of the capacities to become 4.5,000 tons of  Artichokes annually, noting that the firm has exported its fully capacities abroad for around 19 countries, Sadiq explained. Agrocorp exports about 70% from its production to USA through QIZ exports agreement, stressing that the company exports around 95% of its foodstuff through QIZ agreement. About 15 products of Agrocorp will be entered the domestic market within 4 months, and machines and devices will be bought with latest technologies in the coming period. More»
Amwal Al Ghad English - 2014-04-22 08:39:08
Egypt and Saudi Arabia are currently preparing to sign a “customs cooperation agreement” to facilitate trade between the two countries, the Ministry of Finance announced in an official statement on Sunday. According to the ministry, “a second agreement will prevent double taxation and contribute to the promotion of Saudi investments in the Egyptian market.” The ministry mentioned that the agreement would be signed soon but did not provide an exact date. Mohamed Al-Salhawi, president of the Egyptian Customs Authority (ECA), said all the final provisions of the cooperation had been discussed between the two parties. Al-Salhawi added that the cooperation agreements entails that skill training will be offered to the customs officers. He mentioned that the field of customs will be developed through “exchange of information as well as the exchange of technical and managerial expertise”. “The agreements will help both countries fight smuggling,” Al-Salhawi said. The ECA president also announced the formation of a committee, comprised of himself and the Director General of the Saudi Customs (SADC), to work on overcoming obstacles facing the implementations of these agreements. According to Al-Salhawi, a communication liaison will be appointed to arrange a meeting between specialists from both sides to seek the resolution of any obstacles that may arise. The ECA recently issued a circular exempting all Saudi Arabian means of road transportation from frees or taxes. Following the ousting of former president Mohamed Morsi, Saudi Arabia pledged $5 billion to Egypt in the form of grants, deposits and petroleum products. The Saudi aid was divided into $1 billion cash, a five-year $2 billion interest free deposit at the CBE and $2 billion in the form of petroleum products. A cooperation agreement between the General Federation of Egyptian Chambers of Commerce (GFECC) and the Jeddah Chamber of Commerce (JCC) was signed in January. JCC Board Director Sheikh Saleh Kamel then stated that the agreement would improve economic ties between both countries through various methods. During the same month, the Egyptian-Saudi Businessmen Association announced plans to attract 200 companies to invest a total of EGP 2 billion in Egypt in 2014. More»
Amwal Al Ghad English - 2014-04-22 07:51:01
In a move to boost Egyptian exports, Minister of Industry, Foreign Trade and Investment Mounir Fakhry Abdel Nour issued decisions on Friday to restructure 16 export councils and establish a “non-traditional” export council. The non-traditional export council will mainly help small exporters of the pre-existing 11 export councils in the fields of agricultural crops, ready-made garments, food industries, cement and building materials, engineering and leather, a statement from the ministry showed. Abdel Nour said that the new export council is to act as a regulatory framework for small exporters and a platform to address their problems. With regard to restructuring several export councils, Abdel Nour said the changes aim to enhance their performance and increase exports in the coming period. The restructure followed the failure of a number of exporters to meet their targets, the minster added. The restructured councils include food industries, agricultural corps, textile, home textiles, chemical industries and building materials. In September, Abdel Nour issued a decision to restructure the Egyptian side of the joint business councils with the US, Italy and France in order to “meet the needs of the current stage and the economic plans which the government is implementing”. More»
Amwal Al Ghad English - 2014-04-22 07:47:25
Egypt estimates its local wheat crop at 9 million tonnes, according to a state newspaper that cited a government report, lower than the 9.5 million tonnes the Agriculture Minister had predicted. Traders surveyed in a Reuters poll estimated this year's crop at around 7 million tonnes, in line with the previous harvest. The government's estimates are consistently below those of private traders. Egypt, the world's biggest wheat importer, is aiming to boost domestic production in an effort to cut its import bill. The state and private buyers purchase around 10 million tonnes from abroad annually. Some 3.2 million feddans (1.34 million hectares) of land had been planted with the strategic crop this year, the official Al-Ahram newspaper said on its website, citing a report by the Agriculture Ministry and the State Ministry for Scientific Research. The government began buying wheat from local farmers last week during a harvest season that runs through June. It has set aside about USD 1.4 bln. It has said it aims to purchase 4 million tonnes of the local crop. It typically buys 3.6 million tonnes of wheat from farmers each year for a subsidised bread programme that feeds millions. Agriculture Minister Ayman Abou Hadid was quoted by official media last month saying that the government expected the harvest to reach 9.5 million tonnes. More»
Amwal Al Ghad English - 2014-04-21 12:57:38
Egypt plans to double the price of natural gas piped into some homes and businesses from next month, but the move will trim its huge fuel subsidy bill only slightly because few premises are connected to the gas network. Energy prices in Egypt are among the lowest in the world, and the cash-strapped government spends more than a fifth of its budget on keeping them down. Although successive governments have called for reform, none have dared push through big price rises for fear of stoking public unrest. According to a government decree issued late on Sunday, residential and commercial users of less than 25 cubic metres of gas per month will pay 0.40 Egyptian pounds ($0.06) per cubic metre from May. The Oil Ministry's website shows the current price of gas for households at 0.20 Egyptian pounds ($0.03) per cubic metre, or about $0.80 per million British thermal units (mmbtu). State newspaper Al-Ahram reported that the current price is 0.10 Egyptian pounds ($0.01) per cubic metre for consumers that use less than 30 cubic metres a month. No officials from the ministry could be reached on Monday, a public holiday in Egypt, to confirm the current price. The price hike, announced in the country's official gazette, does not apply to the electricity generation sector, which is the largest consumer of gas in Egypt. The decree also says that bakeries, which produce the staple food of most Egyptians, will not have to pay any higher price. The price hike therefore only affects a small number of citizens whose homes have been connected to the gas network. Most poor Egyptians use cylinders of butane for cooking. Egypt raised the price of the cylinders last year for the first time in two decades ahead of talks with the International Monetary Fund on a $4.8 billion loan. Talks later broke down, and some analysts said the price hikes were regressive, as they cut fuel subsidies for poorer Egyptians. The government last year began a World Bank-backed plan to link 800,000 households a year to the gas grid in a bid to get consumers to use less state-subsidised butane. Artificially low prices for electricity, for butane and for transport fuel at filling stations provide little incentive for Egyptians to curb consumption, despite a fuel supply crisis that frequently causes blackouts. Under the new pricing structure, those who consume 25 to 50 cubic metres per month will pay 1 Egyptian pound ($0.14) per cubic metre over 25. Those consuming over 50 cubic metres will pay a top rate of 1.5 Egyptian pounds ($0.21), or around $6 per mmbtu for each cubic metre over 50. By contrast, U.S. householders paid an average of $0.36 per cubic metre of gas, or around $9.60/mmbtu, last year, according to U.S. Energy Information Administration data. Government officials and industry experts says the wasteful subsidy system is at the root of a range of problems in Egypt's chaotic energy sector. Egypt, facing the worst energy crunch in years, is scrambling to secure adequate fuel supplies for the summer to avoid popular anger over power cuts. Officials privately admit that campaigns to urge Egyptians to curb their consumption will have no effect while energy prices remain low. More»
Amwal Al Ghad English - 2014-04-21 12:49:33
Egypt will start restructuring energy subsidies as of July, coinciding with the coming fiscal year 2014/15, without affecting poor or low-income segments, reported the state-owned daily newspaper Al-Ahram Sunday. Al-Ahram quoted Interim Egyptian Prime Minister Ibrahim Mahlab as saying that the new energy subsidy system would not touch the price of butane gas cylinders or electricity consumption charges for medium and low segments. The government has not decided on raising petrol and fuel prices, Mahlab added. Earlier in April, Egypt’s minister of planning and international co-operation, Ashraf Al-Arabi, told Reuters that Egypt plans to raise gas prices "very soon," declining to elaborate further. He said the government will make a bigger push to distribute smart cards for fuel, part of a programme to cut costs for the heavily subsidised commodity by reducing so-called "leakages," or smuggling and selling of gasoline on the black market. Egypt’s total subsidy bill registered a decline of LE9 billion ($1.2 billion) in the first eight months of FY2013/14 compared to the corresponding period of the previous fiscal year, recording LE80.6 billion ($11.5 billion), of which LE50 billion ($7.1 billion) were allocated to petroleum products. According to Mahlab, soon the government will embark on establishing a sovereign fund that will manage the state’s assets on behalf of Egyptians. The sovereign fund’s board will also be tasked with operating the country's 174 public sector companies, Mahlab added. Mahlab revealed to Al-Ahram that the ordinary Egyptians will be able to contribute to the capital of the fund through shares subscriptions. More»
Amwal Al Ghad English - 2014-04-20 14:19:44
Egypt and Saudi Arabia are due soon to sign two agreements for customs cooperation and the avoidance of double taxation. The agreements come within the framework of strengthening Saudi investments in Egyptian market. In this respect, Mohamed El-Salhawi – Chairman of the Egyptian Customs Authority –  revealed that the joint Saudi-Egyptian committee has finalised the terms of agreements. More»
Sanaa Allam - 2014-04-20 13:30:09
The Egyptian Export Council for Medical Industries reported $130 million in exports during the first quarter of 2014, a 5% growth year-on-year, chairman Awad Gabr announced. In Q1/2013, the council registered around $123 million in exports. The council’s strategy for the current year aims for expanding into more markets, notably the Arab world, Europe and Asia, the Egyptian official noted. Moreover, Awad said the council’s exports include three products, namely the pharmaceuticals, cosmetics and medical devices. For the pharmaceuticals devices, the exports reached around $66 million. In addition, the cosmetics sector registered approximately $48 million in exports; whereas the value of medical devices sector’s exports hit $16 million. More»