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The program also allows exporters to apply for industrial land through the new online land allocation portal.
Egypt’s Oriental Weavers Group revealed new details about its planned industrial city, Orientals Industrial City (OIC), in Ain Sokhna, announcing that the project will be built on an area of 10.5m sqm at a cost of EGP 13bn. The new industrial city would be developed and managed by the company’s subsidiary Orientals for Industrial Development …
Company posted 40% y-o-y surge in consolidated profits for 2017
The prosecution did not move forward with the charges against the company and dismissed the case, says Oriental Weavers
The company Oriental Weavers plans to inject EGP 100m in investments during the second half of 2016 to expand its production capacity. The company aims to add seven new looms after its merger with Rozatks Modern Spinning and Weaving Company, bringing the total capital expenditures to $14.5m and the production capacity to 4.2m sqm. Mohamed …
Exporting Committee developed a strategy to help its subsidiary MAC out of the exports decline, based on adding new production lines and opening new African and Asian markets
The company has three-part plan to stimulate exports by purchasing new machines, entering new markets in Gulf, Asia
Political and economic turbulences in some export countries reduced exports’ revenues, company expands in new markets
Recovery parallels US and European stocks’ upturn
The group is charged with carrying out monopolistic practices and may pay a fine of up to EGP 300m
The Egyptian currency’s devaluation is a step in the right direction, but the Egyptian industry needs more incentives
By Mohamed Ayyad and Mohamed Mostafa Oriental Weavers sales are expected to reach EGP 5.8bn this year, compared to EGP 5.5bn in 2013, according to the company’s founder Mohamed Farid Khamis. He added that last year exports reached EGP 3.9bn, representing 65% of sales. Khamis also revealed that two new factories to be located in …
Net profit rose to EGP 369.12m last year on sales up 13% at EGP 5.52bn, boosted by new designs, Oriental Weavers said in a statement.
The acceptance of Egypt’s pending IMF loan will have a positive effect on the economy and there will be an increase in tourism and FDI throughout the year, says EFG
By Reuters CAIRO: Egypt’s Oriental Weavers, the world’s biggest machine-woven carpet maker, may report earnings growth of 33 percent in 2012 helped by easing raw material prices and increased demand, CI Capital said and upgraded the stock to “buy”. The company’s profitability was hurt over the last year due to increased raw material costs, political …