Pakistan and US finalising trade deal, foreign minister says
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
6 minutes ago
- Zawya
El-Khatib follows up on 4 Japanese companies' investments in Egypt
Arab Finance: Minister of Investment and Foreign Trade Hassan El-Khatib held extensive meetings with officials from four Japanese companies to review investment opportunities and potential to expand their presence in the Egyptian market, according to a statement. As part of his current visit to Japan, El-Khatib met with representatives from Saraya Co., Ltd and followed up on the Saraya Middle East factory that was launched in the Sokhna Industrial Zone during June 2024. Out of 14 of the company's sites, the facility is the only one operating in the field of extracting raw jojoba oil, reflecting the company's confidence in the Egyptian market as a regional industrial hub. Saraya is one of the leading Japanese companies specializing in health, hygiene, and the environment. The company develops, manufactures, and sells a variety of products for household, medical, and commercial use. The minister also met with leaders from Earth Corporation, a leading manufacturer of household pesticides, personal care products, and pharmaceuticals. The Japanese company expressed interest in investing in the Egyptian market through establishing a new project or entering into industrial partnerships with local partners. Last June, Earth Corporation launched an exploratory business mission to Egypt in preparation for developing a clear business plan for expansion in the promising market. As for the pharmaceutical and food industries, the minister held an expanded meeting with representatives from Otsuka and addressed plans to establish a new factory for integrated food products, called Arab Otsuka Food Supplements. With a total investment of nearly EGP 2 billion ($40 million), the factory will provide more than 1,400 job opportunities, supporting the company's commitment to deepening local manufacturing and expanding its exports to regional markets. Regarding the technology and smart industries sector, El-Khatib met with officials from Sharp Corporation, one of the largest Japanese electronics companies with a global presence in 30 countries and exports its products to more than 160 countries. The meeting outlined details of the partnership between Sharp and the Egyptian Elaraby Group, which resulted in the establishment of Horizon Home Appliances in July 2024. The joint venture (JV) aims to manufacture large refrigerators locally with an annual production capacity of up to 400,000 units. Production will commence in March 2026, with a total investment of $30 million. Sharp holds a 20% stake in the JV, while Elaraby Group owns the remaining 80% of the shareholding. El-Khatib affirmed the ministry's commitment to attracting more Japanese investments and transferring advanced technology to the Egyptian market. This is in addition to boosting partnerships in the pharmaceutical, public health, and electronics sectors, enhancing Egypt's regional and international competitiveness in these fields. © 2025 All Rights Reserved Arab Finance For Information Technology Provided by SyndiGate Media Inc. (
Zawya
34 minutes ago
- Zawya
Mideast Stocks: UAE tracks global gains on trade optimism; Saudi index flat on earnings, ex-dividends
Gulf equities were mixed on Monday, with UAE markets tracking global gains on trade optimism and signs of a China tariff truce, while Saudi stocks were flat amid mixed earnings and several blue-chip stocks trading ex-dividend. The United States and the European Union on Sunday struck a framework trade agreement, which will impose a 15% import tariff on most EU goods, half the threatened rate. Meanwhile, senior U.S. and Chinese negotiators will meet in Stockholm later in the day in a bid to extend the tariff truce ahead of an August 12 deadline, avoiding an escalation in duties. Saudi Arabia's benchmark index was flat in choppy trade as a mixed earnings season and several blue-chip stocks trading ex-dividend partially offset optimism surrounding global trade outlook. Petrochemical giant Saudi Kayan surged more than 4% as its second-quarter loss halved from a year earlier, while Arabian Cement slid more than 3% as second-quarter profit fell short of expectations. Banque Saudi Fransi and Arab National Bank dropped 4.1% and 2%, respectively, after their shares began trading ex-dividend. Dubai's benchmark index gained 0.5% to a 17-1/2 year high, on course to extend its winning streak for a third consecutive session, supported by a 2.5% jump in Emirates NBD Bank. The Abu Dhabi index was marginally higher. Shares of Americana Restaurants International and marine EPC contractor NMDC climbed more than 1% ahead of earnings. Qatar's benchmark index eased 0.4%, as traders locked in profits following a recent multi-year rally, with all sectors in the red, led by a 1.5% decline in Qatar Islamic Bank.
Khaleej Times
an hour ago
- Khaleej Times
Indian army kills 3 militants during intense firefight in Kashmir
he Indian army said on Monday that it had killed three men after an intense firefight in India-administered Kashmir, according to a post by the army on X. No further details on the incident were immediately available. Earlier today, India's Defence Minister Rajnath Singh said that New Delhi had ended its military conflict with Pakistan in May as it had met all its political and military objectives and not under any pressure.
