Industry News
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Oriental Weavers Carpet sees $55.6mln block trading
The transaction was executed on 163.74 million of the company's shares.
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45 Worn-out cars, motorcycles lifted from streets during traffic campaigns
Egyptian President Abdel-Fattah El-Sisi called on the government to end the abandoned vehicles phenomenon in various cities.
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Egypt invested LE 12 bln in electricity sector during 2022
Hamza added that the sector aims to be able to transmit sustainable electric energy from all sources of production to all customers.
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SCZone receives first batch of Mercedes vehicles in logistic park
The partnership with Mercedes-Benz Egypt and its presence within SCZone is an important step to support the auto industry in SCZone.
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Egypt to build electric vehicles
President Abdel Fattah El-Sissi told the World Youth Forum in Sharm El-Sheikh that he was personally committed to seeing EVs built in Egypt.
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Egypt replaces Russia as fertilizer supplier to Europe
The council reported, citing a report by the European Commission, that fertilizer exports to Europe surged by 187.5%.
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Pachin to decide on the acquisition offer of National Paints in early January
Elite is in the process of finalising the fair value report for the company’s shares: Sources.
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How local fashion is growing and surviving in Egypt
Local fashion is now sold online, and has a large niche audience that is loyal to several brands that have established themselves.
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Summu Consulting buys 6.6% additional stake in Electro Cable
The transaction was executed on 235 million shares at an average price of EGP 0.475 per share.
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Misr for Chemicals Industry starts construction of evaporators unit
The project is executed in partnership with the German engineering group thyssenkrupp.
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Emirati Chimera to acquire 45% of a subsidiary of GB Auto at a value of EGP 855m
The percentage of GB Capital in GB Leasing’s capital became 55% after the sale.
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Global fashion brand DeFacto opens 25th store in Egypt
DeFacto, the global fashion brand continues its investments in Egypt which it started by opening its first store in 2013, without losing momentum.
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Electro Cable Egypt sees block trading deal worth over $4mln
The transaction was executed on 235mln of Electro Cable’s shares.
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Egypt's Ready-made Garment Chamber, IFC sign cooperation protocol
The technical and specialized clothing industry is the most important emerging field, which enjoys a rapidly growing global market.
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Apparel Group launches its Arabic website Globally in celebration of World Arabic Language Day
It is a milestone to communicate wider audience and take out the language barriers in the Middle East region.
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Gahez app becomes first commission marketing platform for wholesale in ready-to-wear sector
The new service launched by the company aims to support young men and women in increasing their income by providing a new job opportunity from home.
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Food Africa and pacprocess successfully concluded
According to the organisers, it was the most successful Food Africa in its history and a pacprocess MEA on course for growth.
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1.3M ounces of gold discovered in Egypt's Sukari mine reserves
The Sukari mine has produced more than 5 million ounces of gold, and today the expected life of the mine is 14 years.
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Aton resources completes phase 2 diamond drilling program in Abu Marawat concession
The company said that the program was after drilling a total of 9,073 meters from 85 holes.
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Egypt plans to start mining Uranium in 2024
The EAEA chief noted since crude uranium cannot be used in nuclear power plant reactors, Cairo will have to send it to other countries for processing.