Latest in Industry Highlight
Latest in Industry
Abo El-Sebaa Weaving Group searching for strategic investor to repay debts: Chairman
We hope to re-operate the group’s factories with EGP 50m, but a number of banks refused
‘Egyptian Industrial Product Preference’ regulation will decrease foreign product imports: FEI board member
The regulation states that the proportion of Egyptian components in industrial products should not be less than 40%
Investment Ministry receives 100 governorate projects for ‘Upper Egypt Development’ Conference
Assiut debuts Dry Bulk Port project with investments of $ 170m, Qena debuts cement plant with investment EGP 1bn
Russian delegation visits industrial development companies
The delegation is to decide which company is capable of developing the Russian industrial zone, says Al-Yafi
Industrial commodity production increased 5.7% in FY 2013/2014: CAPMAS
Food production hiked by 46.9%
Armed forces constructing new cement production line
New line aims to double yearly production by end of 2015
Ministry of Industry launches tyre retreading project
Retreading old tyres costs 60% less than producing new tyres, and uses 40% less energy, minister says
International firms resume work
General Motors, Electrolux, Shell and BASF returned to business in Egypt on Sunday
Water ministry mulls use of solar power
Ministry of Water and Irrigation reviews possibility of using solar energy to improve water pumps.
Eid Al-Fitr’s weddings and engagements bolster gold market
Local gold market witnessed a surge in sales and prices in Eid el-Fitr as Egyptians seize the vacation to hold their engagements and wedding ceremonies
Abu Eita: the government is working to rescue idle factories
The government is working to address problems faced in a number of idle and shut down factories, according to Kamal Abu Eita, Minister of Manpower and Immigration.
Kidzania Egypt to open soon
750,000 to 1.2 million visitors expected annually
The Arabian Dream: Abu Dhabi’s Mercenaries
The Colombians had entered the United Arab Emirates posing as construction workers. In fact, they were soldiers for a secret American-led mercenary army being built by Erik Prince
Sokhna crisis resolved
The Sokhna strike has ended after much negotiation, with workers finally returning to their jobs after a presidential proposal
Samsung factory gives priority to Beni Suef residents
The company’s factory in Beni Suef is its first in the MENA region
IFC to invest $6m in ‘Fawry’
The investment in ‘Fawry’ the electronic payment provider, will be used to extend the network of payment terminals across the country
Pharmacists to sue pharmaceutical companies
The Division of Pharmacy Owners (DPO) in the Chamber of Commerce has decided to bring a lawsuit against pharmaceutical companies in the public sector who have cancelled discount rates for advanced payment. The 3% discount rate for advanced payment has been applied for 25 years by agreement between pharmaceutical companies and the DPO. The head …
Printing and Packaging industries turn profit despite stagnant economy
Some industries are remain considerably profitable despite the deteriorating state of the economy
Pharmaceuticals pricing feud lingers
The Ministry of Health is reconsidering the minister’s resolution on the pricing of pharmaceuticals
Cleopatra Ceramics fiasco on the cusp of resolution
FInal discussions are being to put an end to the labourers’ strike at Cleopatra Ceramics
Eurozone woes hit Singapore GDP in Q2
Singapore (AFP) — Singapore’s trade-driven economy contracted by 1.1 percent in the second quarter from the previous three-month period as debt woes dampened European demand, a government estimate showed Friday. The unexpected contraction, down from 9.4 percent growth in the preceding quarter, was largely due to an output drop in the biomedical manufacturing industry, the …
Exports drop in light of political ambiguity
Political uncertainty both at home and abroad have damaged the country’s exports with industry leaders predicting further damage to the already squeezed economy
Minister of Industry lays development roadmap for successor
By Abdelkader Ramadan In what seemed to be his political will to his successor in the new government, current Minister of Industry and Trade Mohamed Eissa proposed a number of projects which he hopes the Ministry would undertake. Eysa said in a statement that increasing production at the 1570 factories currently going through difficulties topped …
Government textile industry faces immense challenges
By Mohamed Salah Al-Din The government textile sector is suffering from variety of problems; it is indebted to banks and various government agencies, it suffers from ageing equipment, it is unable to produce enough output to cover the costs of labour and material inputs. The sector’s troubles make it a thorny subject for the new …
Government approves new centre for the development of SMEs
Ganzouri’s cabinet has approved the transformation of the Industrial Modernization Center (IMC) into a centre that focuses on the development of small and medium sized enterprises (SMEs). The goal of the new centre is to offer a variety of services to SMEs, as they account for 90% of total business in Egypt, provide 65% of …
Chevrolet dominates automobile market
According to figures provided by the Automotive Marketing Information Council (AMIC), the Hyundai Elentra was the best performing new vehicle available in the Egyptian market, recording 4,800 units sold during the first five months of the current year. In addition, Hyndai’s new Accent RB model sold 3,200 units, strengthening its position in the market. AMIC’s …
Samsung set to revolutionise the smart TV industry with new 2012 smart TV line-up
The future of Smart TV is here – Samsung Electronics Egypt, a market leader in consumer electronics, today launched the 2012 Samsung Smart TV lineup that is set to redefine the way consumers enjoy their home entertainment experience. The 2012 lineup which was unveiled during a press conference hosted at the Intercontinental City Stars Hotel saw …
Egypt invests $200m to build sugar factory in Tanzania
By Salah Elmonoufy The Egyptian African Investment Company will sign an agreement within in days to build a large sugar factory in the Tanzanian capital, Dar el-Salam with investments amounting to $200m. The Egyptian Ambassador in Tanzania, Hossam El-Din Moharram, stated that the factory would begin to operate in October 2014, noting that production will …
Islamic Trade lends Egypt USD 1bn to meet rising demand of consumer goods
The Egyptian government signed a final agreement with the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank group, for a one billion dollar loan to finance Egypt’s hydrocarbon and consumer goods. Minister of Planning and International Cooperation, Fayza Aboul Naga, considered the terms of the loan favourable, as the ITFC …
Government resumes cement license programme
By Islam Zayed An official in the Ministry of Finance revealed that the government was resuming its cement licensing programme in order to attract investment, especially foreign investment, noting that it is an efficient way to support the use of state resources in light of the current circumstances. The source noted that the “economic group” …