amwalalghad :: Investment

Your English Portal To Arab Economy

GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Orascom Telecom Holding (OT)   3.92        Rakta Paper Manufacturing   4.39        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Egyptian for Tourism Resorts   0.69        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Heliopolis Housing   21.65        United Housing & Development   8.93        Raya Holding For Technology An   4.57        International Agricultural Pro   2.1        Gulf Canadian Real Estate Inve   18.08        Alexandria Pharmaceuticals   45.71        Arab Cotton Ginning   2.46        Egyptian Chemical Industries (   7.26        National Real Estate Bank for    11.84        National Development Bank   6.72        Six of October Development & I   15.03        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Palm Hills Development Company   1.61        Credit Agricole Egypt   9.04        Remco for Touristic Villages C   2.13        Commercial International Bank    29.87        El Ezz Porcelain (Gemma)   1.9        Egyptian Starch & Glucose   5.4        Arab Real Estate Investment (A   0.41        South Valley Cement   3.12        Citadel Capital - Common Share   2.5        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Sharkia National Food   3.78        Egyptian Transport (EGYTRANS)   7.85        El Kahera Housing   4.97        El Shams Housing & Urbanizatio   2.45        Egyptian Kuwaiti Holding   0.7        ARAB POLVARA SPINNING & WEAVIN   2.11        Cairo Poultry   8.32        Egyptian Financial & Industria   8        T M G Holding   4.03        Asek Company for Mining - Asco   10.66        Misr Hotels   27        Egyptian Electrical Cables   0.56        Medinet Nasr Housing   22.51        Mena Touristic & Real Estate I   1.21        ELSWEDY CABLES   18        Al Arafa Investment And Consul   0.17        Prime Holding   0.91        Alexandria Spinning & Weaving    0.74        General Company For Land Recla   16.6        Gharbia Islamic Housing Develo   8.41        Alexandria Cement   8.9        Arab Valves Company   0.94        Sidi Kerir Petrochemicals   12.4        TransOceans Tours   0.09        Egyptian for Developing Buildi   6.43        Egyptian Gulf Bank   1.24        Kafr El Zayat Pesticides   18.19        Faisal Islamic Bank of Egypt -   35.1        National company for maize pro   11.86        Delta Construction & Rebuildin   4.03        Zahraa Maadi Investment & Deve   48.25        Samad Misr -EGYFERT   3.52        Egypt for Poultry   1.41        Cairo Development and Investme   11.7        Cairo Pharmaceuticals   20.1        Maridive & oil services   0.9        Suez Canal Bank   3.75        Nile Pharmaceuticals   15.81        The Arab Dairy Products Co. AR   73.85        National Housing for Professio   14.39        El Ahli Investment and Develop   4.87        Egyptian Saudi Finance Bank   10.79        Ismailia National Food Industr   5.16        National Societe Generale Bank   25.52        Acrow Misr   19.16        Alexandria Mineral Oils Compan   63.63        Paper Middle East (Simo)   5.59        Egypt Aluminum   12.31        Giza General Contracting   13.12        Middle Egypt Flour Mills   5.82        Extracted Oils   0.6        Assiut Islamic Trading   4.56        Engineering Industries (ICON)   3.95        North Cairo Mills   15.3        Arab Pharmaceuticals   11.88        Grand Capital   5.38        El Ahram Co. For Printing And    10.68        Minapharm Pharmaceuticals   25.49        El Arabia Engineering Industri   13.52        El Nasr For Manufacturing Agri   9.71        Naeem portfolio and fund Manag   1.7        Faisal Islamic Bank of Egypt -   6.76        Natural Gas & Mining Project (   68.26        Housing & Development Bank   13.95        East Delta Flour Mills   31.5        Orascom Development Holding (A   3.22        Memphis Pharmaceuticals   11.12        Abou Kir Fertilizers   134.23        Delta Insurance   5        Cairo Investment & Real Estate   12.18        Cairo Oils & Soap   12.98        Egyptian Arabian (cmar) Securi   0.36        Egyptian Real Estate Group Bea   15.56        Alexandria Containers and good   85.51        Upper Egypt Flour Mills   45.78        Development & Engineering Cons   9.94        Sinai Cement   15.18        Medical Union Pharmaceuticals   28.01        Torah Cement   24.2        Alexandria New Medical Center   46.55        Export Development Bank of Egy   5.04        Egyptian Company for Mobile Se   92.02        Middle & West Delta Flour Mill   32.7        El Kahera El Watania Investmen   4.18        Mansourah Poultry   12.41        Delta Sugar   11.04        Misr Beni Suef Cement   41.21        Egyptian Satellites (NileSat)   6.14        Cairo Educational Services   17.75        Lecico Egypt   7.55        Sharm Dreams Co. for Tourism I   5.3        General Silos & Storage   10.77        Al Moasher for Programming and   0.66        UTOPIA   5.28        Arab Ceramics (Aracemco)   25.4        Barbary Investment Group ( BIG   0.98        

Industry & Trade

Egypt's Steel Industry Files Anti-Dumping Claim against Imports


Published 2014-07-23 09:42:56| Amwal Al Ghad English

Egypt's steel companies have filed a petition against rebar and wire rod imports from China, Turkey and Ukraine, one of its top steelmakers said on Tuesday, the latest move in a years-long quest to protect the fledging industry from low-priced imports. Egyptian Steel and other major steelmakers have submitted a request for the government to re-introduce anti-dumping duties on imports of rebar and wire rod, used in the construction industry, Ahmed Abou Hashima, chief executive of Egyptian Steel said in an interview. The filing was made in May. The industry moved quickly after former army chief Abdel Fattah al-Sisi won the country's presidential vote, putting a military man back in power after the brief hiatus of Islamist control. It comes at a critical time for Egypt's steel industry, which is still recovering from political turmoil, and for a global market struggling with low prices and overcapacity due to lackluster demand. "How can (foreign) rebar and wire rod enter Egypt with zero customs? We have very high-tech industries in Egypt, especially in steel, but we must protect them (from foreign imports)," Abou Hashima said. "We have to change from customers to industrials: that's the only way a country can grow." According to steel industry body Worldsteel, Egyptian steel output fell at an annual rate of 8 percent in the first four months of 2014, to 2.05 million tonnes, after rising just 1.9 percent last year amid the turmoil surrounding the overthrow of former Islamist President Mohamed Mursi. The industry sees dumping duties as necessary after Sisi slashed energy subsidies to factories in an effort to salvage ruinous government finances. "The new government has a lot of issues on hand, so we want to make sure that the issue does not die out and remains on top of their agenda," Abou Hashima said. Calls for the government to re-introduce previously short-lived dumping duties started last year after the government dropped tariffs in June after just six months. The petition in Egypt comes after other countries, including the United States, successfully imposed protection duties on imports of steel rebar. In April this year, the U.S. Commerce Department set preliminary duties on millions of dollars worth of imports from Mexico and Turkey after producers alleged foreign competitors were selling steel rebar at unfairly low prices. Previously, Egypt's Industry Ministry confirmed that no import duties were in place on imports from Turkey, the world's top steel rebar exporter, but declined to comment on whether or not the government was considering such a measure. Egyptian Steel is planning to expand its annual capacity to over 2 million tonnes by late 2016 from 355,000 tonnes now.
Tech news
Italy's data protection regulator has given Google 18 months to change the way it treats and stores user data, bringing to an end an investigation that is part of a European drive to reform the internet giant's privacy practices. Regulators in several European nations including Italy began a joint inquiry last year after Google consolidated its 60 privacy policies into one, combining data collected on individual users across its services, including YouTube, Gmail and social network Google+. It gave users no means to opt out. In a statement on Monday, the Italian watchdog said Google's disclosure to users on how their data was being treated remained inadequate, despite the company having taken steps to abide by local law. The watchdog gave the group 18 months to comply fully and indicated a series of measures Google must put into practice. The Rome-based regulator said Google would not be allowed to use the data to profile users without their prior consent and would have to tell them explicitly that the profiling was being done for commercial purposes. It also demanded that requests from users with a Google account to delete their personal data be met in up to two months. A spokesman for Google said the company had always cooperated with the regulator and would continue to do so, adding it would carefully review the regulator’s decision before taking any further steps. As part of the process, Google also agreed to present a document by the end of September that will set a roadmap of steps to comply fully with the Italian regulator's decision. A source familiar with the regulator said should Google not comply it could risk fines of up to about 1 million euros, a tiny fraction of Google's income, as well as possible criminal proceedings. Regulators in France and Spain have already fined Google for breaking local laws on data protection, underscoring growing concerns across Europe about the volume of personal data that is held in foreign jurisdictions. In Britain, the ICO regulator gave Google until September 20 last year to make changes to bring the policy into line with local law. On Monday a spokesman did not return a request for comment asking for an update on the case. In the Netherlands, the data protection regulator found in November that Google's privacy policy was in breach of local law. A spokeswoman said the Dutch regulator was still weighing whether to take enforcement measures, which can include fines. In a separate regulatory development, Google is taking initial steps to meet a European ruling that citizens can have objectionable links removed from Internet search results, a ruling that pleased privacy campaigners but raised fears that the right could be abused to hide negative information.
Internet News
Yahoo Inc (YHOO.O) will buy mobile analytics startup Flurry to beef up a fast-growing mobile advertising business that still lags Google Inc's (GOOG.O) and Facebook Inc's (FB.O) in scale. Six-year-old Flurry uses analytics to help target ads at consumers by monitoring activity on more than half a million apps on some 1.4 billion mobile devices around the world, Yahoo said in a statement on Monday. The startup provides information to help marketers and brands more easily reach their desired audiences, Yahoo said. Yahoo did not cite a price tag, but a source familiar with the matter said the Internet company is paying several hundred million dollars. Tech blog re/code earlier reported that rough amount.