Latest in Industry Highlight
Latest in Industry
EIPICO postpones development plans due to US dollar shortage
The delayed development plans include recently announced new activities due to directing the dollar’s resources to the import of raw materials, says head of financial division
Ferchem Misr installs soluble fertiliser production line
The company is preparing to run the production line within days as part of its plan to expand production capacity, says investment report
Daikin Industries announces establishment of Daikin Egypt
Substantial growth in air conditioning market due to urban development projects, says BPE CEO Hazem Barakat
Ball Corporation considers investing $60m into Egypt branch: Trade Minister
Ball Corporation’s investment in Egypt reaches EGP 840m, says minister
Oriental Weavers invests EGP 100m to expand production capacity in H2 of 2016
The company Oriental Weavers plans to inject EGP 100m in investments during the second half of 2016 to expand its production capacity. The company aims to add seven new looms after its merger with Rozatks Modern Spinning and Weaving Company, bringing the total capital expenditures to $14.5m and the production capacity to 4.2m sqm. Mohamed …
Industry Ministry inaugurates ‘Proudly made in Egypt’ campaign
The initiative is an important mechanism that contributes to doubling the rate of industrial growth, says Tarek Kabil
Up to 50% of metro carriages are locally manufactured: Trade and Industry Minister
SEMAF delivered 11 air conditioned stainless steel metro carriages for the ERA
Paradigm Invest concludes 3 deals in food, healthcare sectors for the benefit of Arab investors
Deals include acquisition of food and beverages company worth more than EGP 1bn
MHI Technologies establishes subsidiary in Egypt
Mitsubishi announces the establishment of a regional headquarters in Egypt to meet growing demand in Africa
Egyptian factories to close due to US dollar crisis: Nation’s Future Party
Head of the industrial committee in the Nation’s Future Party Mohamed Garhi said that factories in Egypt are about to close due to the aggravating US dollar crisis.
The rise and fall of German exports
German exports have been hit by sluggish demand from many of its most important markets, the national statistics office has reported. The recent drop in shipments abroad is seen as yet another warning signal.
Plans to develop infrastructure of 6 industrial zones: Minister of Industry
Qabil said there is “full coordination between the ministries of industry, international cooperation, and local development to put it into action” to align with the government’s vision.
Leaders in the auto industry prepare for ‘Egypt Automotive’ summit
Business News held a meeting to prepare for the upcoming automotive summit in December, during which chairperson Mostafa Sakr said the ambiguity of the government’s strategy for the automotive sector is delaying investment decisions in the sector
12% in production value of iron, steel in public business sector 2014/2015: CAPMAS
The production value in the public business sector as a whole in 2014/2015 reached EGP 95bn, compared to EGP 114.8bn in 2013/2014, with a decrease of 17.3%.
United Bank’s SMEs portfolio reaches EGP 900m: chairperson
According to El-Kady, SME-projects represent about 12% of the bank’s credit portfolio, and he aims to increase that number to more than 20% before the end of 2019
16.5% decrease in manufacturing industries index during April 2016: CAPMAS
Total index for the manufacturing of motor vehicles, trailers, and semi-trailers recorded an increase of 17.2% during April
EAEF increases financing to $96m in Egyptian startups
Despite Egyptian pound’s devaluation, high poverty, and extreme trade imbalance, SMEs are thriving
Industrial sector acquires 28% of bank loans in March
Most loans in the banking sector worldwide are granted to the industrial sector, says Ezz El-Din Hassanein
Abou Hashima looks to revamp Egyptian media by becoming its most dominant player
Following his recent purchase of ONTV, Abou Hashima is planning a number of projects for the future of media and its expansion by launching other TV channels and producing drama series
Sinoma International Engineering signs contract with Defence Ministry worth €1.05bn
The amount will be paid in instalments over the course of 11 years
TBEA China awaits response from Electricity Ministry to complete loan of $500m from the Export-Import Bank of China
Offer expires after two months
100,000 people are selling our products in Egypt: Oriflame Egypt’s Managing Director
Daily News Egypt met with Oriflame Egypt’s Managing Director Klas Kronaas and sat down with him for an interview about Oriflame’s operations in the country.
Egyptian Banking Institute organises visits to India, Hungary to learn about SME financing
The purpose of the visit to Hungary was to meet heads of units of SME financing in banks in order to identify the basis for the application of international practices in financing these projects in Central and Eastern Europe
House of Representatives’ Industry Committee discusses financial reports of 32 holding companies’ subsidiaries of CTIHC
Warner estimates corporate assets at EGP 66bn and will complete structure’s design in September
Egyptian cotton exports decrease by 54.2%: CAPMAS
Exports reached 112,700 metric kantar between December 2015 and February 2016 compared to 246,000 metric kantar during the same period of the previous season.
Small and medium business solutions of the digital age
Egyptian entrepreneurs and banking experts create innovative solutions for credit underwriting of SMEs
Orascom Construction-Arab Contractors joint venture carries out new phase of Cairo Metro Third Line
OC’s share of the contract amounts to approximately €295m
Al-Sisi’s government engineers bold reforms, more structural adjustment required: IMF
Foreign investors applaud removal of subsidies, VAT, liberalised exchange rate, investment and banking reform, but demand more liberalisation policies from the Egyptian government
Mobile devices to be manufactured domestically
Egyptian-Chinese factory for manufacturing smartphones and tablets expected by 2017
GAFI meets 16 Chinese companies to identify cooperation opportunities
The delegation expressed interest in cooperating in fields such as transportation, the construction materials industry and the electric elevator sector.