Kuwait’s Bukhamseen Group is looking into establishing a USD125 million hotel in Egypt as part of its plan to expand its presence in the Egyptian market.

The Kuwaiti Jazeera Airways is interested in expanding its presence in the local market, boosting investments in airport development and mulling a mass transit project.

Aref Investment Group is looking to expand its investments in Egypt in the fields of education, healthcare, manufacturing, and logistics.

Al Mulla Group is in talks with the Japanese Mitsubishi to localize the manufacture of its vehicles in Egypt. The group is also mulling expanding its investments in the education and financial services sectors.

Prime Minister met with the Emirati minister of industry and investment to review progress on joint projects, including the industrial projects being set up in Ras El Hekma. The discussion also covered the latest on joint energy, data centers, and renewable energy projects, and airport management.

Two Chinese phone companies intend to expand in the local market by manufacturing their products in Egypt during the second half of this year, according to local press.

Electronics and mobile accessories manufacturer Ugreen, in collaboration with Blooms Group, has officially launched in Egypt with a USD5 million investment. The company will offer a range of power banks and audio devices, with more devices to be introduced later this year.

Food industry exports hit their highest level in 2024 at USD6.1 billion, up 21% YoY.

Canada has responded to Trump with a first round of 25% tariffs on imports worth some USD107 billion, including USD20 billion worth of goods that will be impacted starting Tuesday. The EU also responded to Trump’s statements that it would be “absolutely” facing tariffs “pretty soon,” saying that the bloc “would respond firmly to any trading partner that unfairly or arbitrarily imposes tariffs on EU goods.”

BTFH reported a net income of EGP1.7 billion in 2024, marking a 4.6x y-o-y increase. Consolidated revenues rising 4x year-on-year to EGP7.2 billion. Also, EGA approved an increase in the company’s paid in capital from EGP10.9 bn to EGP21.8 bn through rights issue.

MCQE denied in an official statement what was reported about negotiations being held up with a Kuwaiti entity to buy a stake in the company for USD1 per share.

SVCE has not received any Emirati offers for its stake in Building Materials Industry Company (BMIC). The announcement follows a report from local media claiming that an unnamed Emirati company had submitted an offer to acquire a controlling stake in BMIC in exchange for settling its EGP4 billion outstanding debt.

The Oil Ministry increased natural gas supplies allocated for the industrial sector by 10% in 1H25. Export-orientated industries are prioritized for receiving gas supplies.

Local pharma sales climbed 42% YoY in 2024 to EGP292 billion. The increase came on the back of price rises that began picking up in the second half of the year. Prices are likely to remain stable for the time being in 2025 as long as the EGP/USD exchange rate is stable.

RMDA achieved strong sales in December 2024, pushing total 2024 sales up by 46% YoY.

Weekly Commodities Update

Last Price | WoW Change, %
Brent, USD/bbl | 76.8 | -2.2%
Diesel-HSFO Spread, USD/ton | 263.3 | -2.7%
Egypt Urea, USD/ton | 433.5 | 0.6%
Polyethylene, USD/ton | 940.0 | 0.0%
Polypropylene, USD/ton | 957.5 | 

Iron Ore 65%, USD/ton | 123.3 | 0.0%
Steel/Iron Ore Spreads, USD/ton | 377.5 | 3.0%
LME Aluminum Cash Price, USD/ton | 2,592.2 | -1.6%
Egyptian Retail Cement, EGP/ton | 3,012.0 | 2.0%
Steam Coal FOB Newcastle Australia, USD/ton | 115.5 | -0.7%
SMP, USD/MT | 2,729.0 | 0.0%