Latest in Trade Highlight
Latest in Trade
China trade falls on weaker yuan and global demand
Chinese imports and exports in dollar terms dropped sharply in June as the country’s currency depreciated against the US currency. Falling commodities prices and weakening domestic demand also played a role.
Egypt, China sign agreement to research and execute 18 projects
Egyptian and Chinese ministers approved the top priority projects list that was put forth during the G20-Ministers of Trade meeting last Sunday
Egyptian-Chinese Ministerial Committee G20 meeting to be held Monday
The meeting will finalise decisions regarding projects that were agreed on Sunday at the G20-Ministers of Trade meeting
Trade violators will not be prohibited but rather subjected to tighter controls: EFSA
Lawsuit filed against board members of three companies listed on the EGX for manipulating stocks
1.8% decrease in Egypt’s imports over 3-month period: customs
Imports of wheat, corn, cars, palm oil have decreased, but imports of some products like iron have increased significantly
Egypt moves up to rank 49 on World Bank’s Logistics Performance Index
Egypt improved in four out of the six sub-indices of the Logistics Performance Index, compared to 2014
Spinneys opens New Cairo branch as part of 2016 expansion plan
The new outlet for Spinneys is the second to be launched this year, following the opening of a new branch in Alexandria. Two other stores are scheduled to open this year.
The variety of a hypermarket without the hassle of leaving your house
Knockmart.com can deliver its clients all food commodities in 14 areas mostly in new cities
263 ships transit the Suez Canal carrying 15.94m tonnes in 6 days
An average of 43.8 ships transited the canal per day during that period, with an average load of 2.66m tonnes per day
Slight growth in Egyptian exports in 4 months
Imports decline to $18.5bn between January and April; trade deficit fall by 27.5%
210 ships pass through the Suez Canal, carrying 12.8m tonnes in 5 days
The major container ships of Maren Maersk passed through the canal carrying 200,360 tonnes
Supply Ministry receives 80,000 tonnes of Indian rice
The shipment is expected to arrive next week
CBE sells $120m to banks to release imported intermediate goods stuck in customs
El-Menilawy added that the CBE on Tuesday morning had asked the departments responsible for issuing letters of credit in banks to submit reports of the requests of customers whose intermediate goods are stuck in customs.
Trade balance deficit declines by 44.4% in March: CAPMAS
Exports increase by 11.7%, imports decrease by 27.2%
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.
The government’s intransigence is the reason for the failure to acquire CI Capital: Beltone’s legal adviser
The violations of the main shareholder will not hinder Beltone’s acquisition of Reefy and Arab Finance, says Sherif Samy
235 ships transit the Suez Canal carrying 14.3m tonnes in the past five days
The average load per ship was about 60,850 tonnes during that period.
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 fails to control price increases
During most of his speeches, Al-Sisi stressed to Egyptians that there would be no price increases. However, the situation on the ground panned out differently as prices have continued to rise across the board
Market controlled by expansion in gas imports: Ministry of Petroleum
The Gulf’s support reduced the pressure on the budget and stabilised consumption in factories and homes
Supply Ministry receives 350,000 tonnes of wheat from local suppliers
Armed Forces Engineering Authority built 17 silos this year with UAE economic assistance
Egyptian imports decline by 27% in January and February
Egypt’s recorded US$1.891bn in non-oil exports, an increase of 4%
Egypt’s US dollar certificates issuance positive for banks, insufficient to quell liquidity pressure: MOODY’S
The sale of US certificates for sale to Egyptian expatriates will increase the three government-owned banks’ dollar funding; a credit positive especially since bank dollar liquidity has tightened in recent months, according to Moody’s released Wednesday
Qabil discusses development of cooperation with EU delegation
Minister of Industry and Foreign Trade Tarek Qabil met with the delegation of the European Union (EU) to Egypt with whom he discussed the importance of strengthening Euro-Mediterranean relations through the introduction of new programs and initiatives, and enhancing mutual cooperation within the region. “Egypt is keen to develop trade and economic relations with the …
Egyptian exports to Arab and Nile basin countries up in October
Imports from Nile basin countries declined from $107.2m to $29.42m year-on-year
Decision to propose capital increases for 2 banks on EGX is governamt’s most impotant in recent years
Chairman of the Egyptian Exchange (EGX) Mohamed Omran said the government’s and the Central Banks of Egypt’s (CBE) decision to increase capital of two banks through the stock exchange is considered one of the most important economic decisions made in Egypt during the recent years. The statement was part of Omran’s speech in the opening session of …
Qalaa Holdings closes sale of Misr Glass Manufacturing, United Glass Company
The sale is at a combined equity value for 100% of both MGM and UGC of EGP 828m
Tripartite Free Trade Agreement, restructuring of export councils represent key changes in foreign trade in 2015
An annual report issued by the Ministry of Industry and Foreign Trade stated milestones of the trade sector in 2015. Among these milestones was the decision to establish an Egypt-based component of the Egypt-Kuwaiti Economic Cooperation Council, amid a larger restructuring of Egypt’s export sector. With the aim of promoting bilateral trade between Egypt and …
Ministry of Industry decreases nitrogen fertilisers export fees to EGP 50
The decree aims at achieving balance in the fertilisers market in Egypt through the development of a comprehensive system
Cabinet approves business in existing private free zone, declines establishing new ones
Giving license to established projects requiring heavy energy is not allowed except for sectors, regulation approved by cabinet