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Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        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        United Arab Shipping   0.43        Egyptians Housing Development    1.94        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        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        Egyptian Transport (EGYTRANS)   7.85        Sharkia National Food   3.78        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        

Egypt News

General Electric, EgyptAir sign aircraft engine maintenance agreement


Published 2016-07-30 11:52:21| Ahmed El Demerdash

US-based General Electric (GE) and EgyptAir signed on Thursday a TrueChoice Materials agreement for aircraft engine maintenance, repair, and overhaul consulting services. The agreement was signed by Abou Taleb Tawfik, Chairman of EgyptAir Maintenance & Engineering, as well as Chaker Shahrour, Vice President and General Manager of Global Sales & Marketing at GE Aviation, at a signing ceremony held at the Cairo Opera House Headquarters in Cairo. The signing ceremony was under the auspices of Egyptian Minister of Civil Aviation Sherif Fathi, and with the attendance of Egyptair Holding Chairman and Chief Executive Officer Safwat Musallam. “The comprehensive agreement covers technical support and consulting for MRO operations, facility readiness, tooling optimization and other necessary services required to achieve facility certification and further deepen the co-operation ties which last for more than 35 years now.” Safwat Musallam said. He added that this agreement would be a milestone step in implementing EGYPTAIR development strategy. On his part, Chaker Shahrour, Vice President and General Manager of Global Sales & Marketing at GE Aviation said that GE is excited to help EgyptAir through this TrueChoice Material agreement to extend its overhaul and repair expertise to the CFM56-7B engine line that 60% of EGYPTAIR’s fleet is powered by CFM56-7B engine. Following the signing, a concert was conducted by the Egyptian Composer and Pianist Omar Khairat, “EgyptAir Maintenance & Engineering is growing its MRO business and expanding its capabilities with the state-of-the-art technology to be a comprehensive MRO provider for various aircraft, aircraft engines and components. We look forward to working with GE to enhance our CFM56-7B MRO capability in addition to our FAA and EASA certification so as to be a major player in the MRO industry and more in the Middle East and the Africa ,” said Abou Taleb, Chairman of EgyptAir Maintenance & Engineering Company. “The TrueChoice Materials agreement is a true testament of how both corporates can continue working together to drive localization in Egypt and build local capability and know-how. It is meant to cover technical support and consulting for maintenance, repair and operations (MRO), facility readiness, tooling optimization and other necessary services required to achieve facility certification, especially that we have intentions to expand our mutual cooperation in the near future,” Shahrour concluded.
International News
Economic growth in the euro zone slowed in the second quarter as uncertainty before the British vote to leave the European Union swirled, data showed on Friday, and economists said it could be a sign of future weaker growth. Gross domestic product (GDP) in the 19 countries sharing the euro rose 0.3 percent quarter-on-quarter in the April-June period, halving from the 0.6 percent growth in the first quarter of the year, European statistics office Eurostat said. A slowdown was expected after the strong euro zone growth in the first three months of the year, but it may have been compounded by the uncertainty preceding the 23 June British referendum. Although first confidence data after Brexit showed unexpected optimism in the euro zone, the economic impact of Britain’s decision to leave the union may be felt later.
MENA News
A 22-nation Arab summit tackling the region's crises, despite splits over Iran and Turkey, was cut back to a single day Monday due to the absence of the heavyweight leaders of Egypt and Saudi Arabia. Egyptian President Abdel Fattah al-Sisi stayed at home because of "a busy domestic schedule" while Saudi King Salman's no-show was due to "health reasons", an Arab League source told AFP Opening the talks, Egypt's premier Sherif Ismail called in the name of Sisi for "an Arab strategy of struggle against terrorism" "We must recast the religious language that terrorist elements exploit to their own ends to sow terror, death and destruction," he said. Terrorists were deflecting Islam's message of peace, he added.