Industry News
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Cairo for Oils' 2022 sales surpass expectations by 15%
In October, a company filing showed a sales expectation of EGP 200 million for 2022.
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Italy is offering Egypt an electrical interconnection project at a cost of $2.8 billion
The electrical capacities to be exchanged between Egypt and Italy range between 2,500 and 3,000 megawatts.
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Compass Capital joins race to acquire Pachin
Compass Capital aims to acquire a stake of no less than 51% and up to 90% of the targeted company's capital.
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Egypt’s PMI for non-oil business improves slightly in December
Egypt’s Purchasing Managers’ Index (PMI) for the non-oil private sector inched up to 47.2 in December compared to 45.4 recorded in November.
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Saint-Gobain strengthens its presence in construction chemicals in Brazil and in Egypt
Saint-Gobain, through its Chryso business, completed the acquisition of Matchem Brazil and entered exclusive negotiations to acquire IDP Chemicals.
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President El-Sisi Follows up on Engineering Authority Projects
the President was briefed on the developments of the Mokattam region, especially with regard to the efforts being made to make best use of the lands.
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Egypt plans to establish new industrial city including 400 factories
The government had received a request from the “El Sewedy Electric Group” to establish a new industrial zone in the “New October” city.
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Egypt exits 62 economic activities to leave room for private sector
The Egyptian economy has become more resilient in facing the most difficult global fluctuations in decades
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Credit facilities for 100 largest bank clients increase to $24.32bln
In its recent financial stability report, the Central Bank stated that these facilities are concentrated in 17 sectors.
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Egypt's manufacturing, extractive industries index slips over 3% MoM in October
The index recorded 111.79 last October, compared to 115.29 in September, the CAPMAS revealed.
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Industry Minister: Singaporean company plans to establish fertilizer plant in SCZone
The minister stressed that his ministry welcomes Singaporean companies wishing to inject new investments into the Egyptian market.
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Extractive, transformative industries index decreases by 3.04% in Oct. 2022
The index of pharmaceutical and chemical products hit 122.36 in October, up 3.88 percent from 117.39 for September.
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Pachin reports 422% YoY higher consolidated profit in 3 months
Paints and Chemical Industries is an Egypt-based public shareholding company engaged in the production, marketing, and distribution of paints.
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Electricity sector sees promising uptick in 2022
The ministry has also taken concrete steps to totally reverse power cuts and attain electricity surplus.
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Valeo has invested around €0.5bn in Egypt over the past 10 years
Valeo is a tech company that works in the field of smart mobility with a particular focus on the development of safety on roads.
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Egypt's TCI Sanmar Chemicals Charts Plans $15mln Investment in 2023
The company, a part of India’s Sanmar Group, is a significant player in Egypt’s petrochemical industry.
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Egypt eases rules for tax-free car import programme
Egyptian expats wishing to take advantage of a government initiative to import cars to Egypt free of custom duties and taxes are now not required.
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Misr Chemical Industries posts 174.6% YoY profit hike in 5 months
The company recorded a net profit of EGP 219.03 million in the five-month period ended November 30th.
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Egyptian government to inaugurate 6 nitrogenous fertilizers plants soon
Abou El Magd added that another for the manufacturing of chlorine and caustic soda is also under construction in Giza's Abou Rawash industrial zone.
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Farid Khamis's daughters sell full shares in Oriental Weavers for EGP 1.38 Bln
Yasmine and her sister Farida sold their entire stake in the company at a rate of 12.31%, with a number of shares amounting to 81.87 million shares.