Industry News
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Egypt: Elsewedy Electric’s consolidated profits jump to $102.5mln in Q1-23
Revenues hiked by 79.50% year-on-year (YoY)
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Egypt Hosts Arab StarPack Award Ceremony
This year, Arab StarPack Pro recognized the best packaging design and innovations in consumer and industrial packaging on the Arab level.
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Australian consortium to launch an $875M phosphoric acid production plant
The consortium will establish a company named Osiris to implement the project which will be located in the city on the Red Sea coast.
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Turkish İskefe to invest $46 mln in Egypt's leather, gelatine markets
The Turkish firm İskefe Holding will invest $46 million in Egypt's leather and edible gelatine markets, according to Minister of Trade and Industry.
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Alba strengthens ties with Egypt’s Aluminium Sector
Shaikh Daij bin Salman bin Daij Al Khalifa, highlighted the Company’s keenness on strengthening ties with key aluminium producers.
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Egypt’s automotive sales fell by 69% y-o-y in April, passenger car sales down by 70%
The AMIC attributed the downtrend to the continued impact of the foreign currency shortage.
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Egypt's public enterprise ministry prepares offerings in subsidiary companies
The Egyptian Ministry of Public Enterprise is preparing a comprehensive roadmap offering investment opportunities within its subsidiary companies.
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Egypt issues Golden Licenses to Beko Egypt, Bosch to establish home appliance factories
The minister gave two Golden Licenses to foreign investors operating in the sector of home appliances upping the total to 15.
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Xylem studies second phase of pump manufacturing plant in Egypt
he plant is a joint venture with Egyptian company Tiba Manzalawi Group.
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Is this fashion’s watershed moment in Egypt?
It takes more than glossy runway photos to make fashion a major source of revenue in a relatively young market like Egypt.
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Transfer delays won't affect duty-free car import eligibility: Egypt’s finance minister
Minister of Finance assured Egyptian expatriates that the delay in their transfer of imported car fees will not make them ineligible for duty free.
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B.TECH’s tech care to boost retail sector’s after-sales services in Egypt
This new move comes to lay down a new benchmark for competitive customer experience in the industry, across all its branches in major governorates.
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Egypt to raise electricity prices by over 41% in July
The prices of the fifth band will see a price increase of 5.46 per cent and the sixth band by 3.57 per cent.
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Talgo Egypt factory to produce trains locally
The factory is scheduled to be established in the Kom Abu-Rady, Beni Suef Governorate, Upper Egypt, on an area of 20 feddans.
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Egyptian manufacturers negatively affected by high costs of local raw material
Raw material producers allocate most of their production for export at a time when the factories are less able to secure hard currency.
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Egypt facilitates VAT exemption for imported production equipment
Egypt has amended the Value Added Tax (VAT) Law to facilitate procedures for waiving VAT taxes on machines and equipment imported for production.
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Egypt’s Factory 360 and Japan’s MIZUHA sign a joint manufacturing agreement
The device went through several tests in Egypt to ensure that it will be suitable for hot weather, particularly in North African countries.
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Orascom Construction Divests Construction Chemicals Subsidiary for EGP 1.8 Billion
Orascom Construction’s share of the gross proceeds for its 28.25% effective stake amounts to EGP 1.8 billion.
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Egypt: Kima’s net profits exceed $32.3mln in 9M-22/23
Operating revenues jumped by 65% to EGP 5.13 billion in 9M-22/23 from EGP 3.12 billion in 9M-21/22, according to the financial results.
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Artisans in Egypt carve a path to world luxury markets
As businesses struggle to fill the talent gap, they also face the headwinds of a painful economic crisis.