Egypt's HoldiPharma partners with US-based Dawah Pharma to manufacture, export to global markets
Arab Finance: The state-owned pharmaceutical firm HoldiPharma signed a partnership agreement with US-based Dawah Pharma to establish a joint venture for the manufacturing and export of pharmaceuticals and nutritional supplements to international markets, including North America and Europe, as per a statement.
The agreement was signed in the presence of Prime Minister Mostafa Madbouly, who emphasized that the deal reflects international confidence in Egyptian industry and fulfills presidential directives to bolster national strategic sectors, particularly pharmaceuticals.
Under the agreement, the newly formed joint venture, 60% owned by Dawah Pharma and 40% by the Egyptian side, will begin with the export of six nutritional supplement products already approved for the US market.
Future plans include manufacturing and exporting a wide range of pharmaceutical products, such as ampoules, sterile injections, ophthalmic preparations, and over-the-counter medications.
The venture will utilize advanced pharmaceutical manufacturing technologies, including syrups, tablets, prefilled syringes, and transdermal patches.
The company will also operate under the regulatory frameworks of the US Food and Drug Administration (FDA) and the European Medicines Agency (EMA), ensuring compliance and boosting the global competitiveness of Egyptian pharmaceutical products.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
2 hours ago
- Khaleej Times
Should your sneakers look chunky or sleek? What fashion week says
There was a time when sneakers didn't just walk into a room — they stormed in. Super-sized soles, exaggerated forms, and unapologetically loud designs turned sidewalks into runways and feet into fashion billboards. If your shoes didn't weigh two kilos and demand a triple take, were you even flexing? Balenciaga's Triple S kicked off the seismic shift, Versace's Chain Reaction brought Greco-Roman bravado to streetwear, Louis Vuitton's Pharell-era LV Trainers looked like they came straight out of a sci-fi sequel, and Balmain's Unicorn sneakers might as well have been prototypes from a galactic fashion lab — part-sneaker, part-spaceship, and all statement. But just as the volume peaked, fashion — as it always does — changed course. Quietly, intentionally, and with the sort of elegance that doesn't need to shout. A quick glance at the front row of fashion week or a scroll through Instagram's most style-savvy feeds reveal it all: the sneaker game has shed its bulk. Sleek, minimalist silhouettes are dominating. The once-loud, maximalist aesthetic has been softened into something more refined, elegant, and — dare we say — feminine. Not in a gendered sense, but in terms of design language: delicate lines, softer forms, and lithe profiles are replacing the hulking shapes of seasons past. Miu Miu's collaboration with New Balance is perhaps the most iconic symbol of this shift. Reworking the 530 into something that felt like part-sneaker, part-ballerina slipper, they injected subversive femininity and ballet-flat grace into a world that once equated size with power. Loewe followed closely, with its Flow Runner and Ballet Runner models that marry featherlight construction with high-craft detailing, signaling that the new flex is quiet and considered. Even Balenciaga — the very house that led the charge into sneaker maximalism — has scaled back with its Monday sneakers. Sleek, almost modest, the silhouette stands in stark contrast to the behemoth Triple S. Where once there was aggressive bulk and oversized branding, there's now restraint. The same holds true across the luxury landscape. The likes of Dior, Hermès, and Louis Vuitton are all slimming down, creating silhouettes that aren't about stomping through the streets but gliding through them. This shift is more than just aesthetic. It's philosophical. Post-pandemic, there's growing consumer appetite for mindfulness, versatility, and timelessness. A sleek sneaker doesn't scream trend — it signals taste. It's a staple, not a seasonal impulse. And with the return of Y2K fashion, this makes perfect sense. The early 2000s weren't defined by mega soles; they celebrated minimalism. Slim, low-rise sneakers ruled the playground — and now, they're back and ruling the pavements. One name has re-emerged as the face of this return: adidas Samba. A shoe once confined to the shadows of football fields and forgotten closets, the Samba is now the epitome of effortless cool. Bella Hadid, Kendall Jenner, and a slew of other street-style icons have cemented its place in the current fashion canon. But what really set it off was the Wales Bonner collaboration. British designer Grace Wales Bonner has reimagined the adidas Samba with Afro-Caribbean influences and refined detailing — creating editions that sell out instantly and command high resale value. This broader move towards sleeker sneakers is also a reflection of the 'quiet luxury' moment sweeping through fashion. While loud logos and overt branding still have their place, there's a growing appreciation for the understated. Hermès has long mastered this with its Day Sneakers — crafted in premium leather with minimal embellishments. They whisper wealth. Louis Vuitton's Sneakerinas push this sensibility further. These hybrid ballet-sneakers exude couture-level elegance while maintaining sporty roots. Bottega Veneta, with its Orbit sneakers, has created a design that feels like a study in modern architecture — futuristic, featherlight, and devoid of all excess. They're sneakers for those who don't need to prove anything, because they already know. Even Dior's sneaker playbook is evolving. Once known for bolder silhouettes like the B22, the maison has pivoted to models like the B27, the flatter and sleeker B33, and more recently, the B01 Match Sneaker — a tennis-inspired low-top that oozes minimalism and monochromatic finesse. It's luxe, lean, and utterly wearable. In similar fashion, brands like Loro Piana — long known for their whisper-soft cashmeres and walk-on-cloud sensibility — are now reaping the rewards of never having followed the chunky sneaker trend in the first place. Their 360 Flexy Walk and Week-End Walk models are having a quiet moment with a whole new generation of buyers. The rise of slim silhouettes has made Loro Piana, suddenly, feel ahead of the curve — without ever changing their pace. What unites these designs is a shift in luxury itself — from showy and immediate to thoughtful and enduring. And, just as importantly, they're far more wearable. Chunky sneakers, as bold as they were, demanded attention and very specific styling. Sleek sneakers? They're democratic. What unites these designs is a shift in luxury itself — from showy and immediate to thoughtful and enduring. And, just as importantly, they're far more wearable. Chunky sneakers, as bold as they were, demanded attention and very specific styling. Sleek sneakers? They're democratic. They slide under slim tailoring, elevate dresses, work with jeans, and feel equally at home in an airport lounge or a gallery opening. This evolution also reflects a maturation of sneaker culture itself. New-age sneaker enthusiasts are older, wiser, and more discerning. They still value drops and collaborations, but they're now looking for craftsmanship, sustainability, and wearability. Brands are responding with recycled materials, refined lines, and silhouettes that are not only fashion-forward but also environmentally and socially conscious. It's no surprise then that archival models are being dusted off and redesigned. From Reebok's Club C to Nike's Killshot and Puma's Speedcat, the spotlight is now on sleek classics that can be reintroduced with purpose. Even performance brands like On Running are betting big on minimalism, merging Swiss engineering with city style. It's a sign of the times — the age of visual noise is making space for visual clarity. In fashion, every shift tells a story. The oversized sneaker era was about rebellion, irreverence, and irony. But this new era of slim silhouettes is about evolution, intention, and identity. It's not about taking up space anymore — it's about fitting perfectly into your world. So no, the chunky sneaker isn't dead. It's just been asked to take a breather while its leaner cousin takes centre stage. Sleek is in, and it's here to stay.
Khaleej Times
6 hours ago
- Khaleej Times
Watch: Why did Musk have a black eye at farewell? Billionaire brushes aside drug abuse claims
Billionaire Elon Musk bade farewell to Donald Trump in an extraordinary Oval Office appearance Friday, sporting a black eye, brushing aside drug abuse claims and vowing to stay a "friend and advisor" to the US president. As the world's richest person bowed out of his role as Trump's cost-cutter-in-chief, the Republican hailed Musk's "incredible service" and handed him a golden key to the White House. But Trump insisted that Musk was "really not leaving" after a turbulent four months in which his Department of Government Efficiency (DOGE) cut tens of thousands of jobs, shuttered whole agencies and slashed foreign aid. "He's going to be back and forth," said Trump, showering praise on the tech tycoon for what he called the "most sweeping and consequential government reform programme in generations." South-African born Musk, wearing a black T-shirt with the word "Dogefather" in white lettering and a black DOGE baseball cap, said many of the $1 trillion savings he promised would take time to bear fruit. "I look forward to continuing to be a friend and advisor to the president," he said. But many people were more interested in the livid black bruise around Musk's right eye. Speculation about the cause was further fueled by accusations in the New York Times Friday that Musk used so much of the drug ketamine on the 2024 campaign trail that he developed bladder problems. 'Punch me' The SpaceX and Tesla magnate said that his son was to blame for the injury. "I was just horsing around with lil' X, and I said, 'go ahead punch me in the face,'" 53-year-old Musk said. "And he did. Turns out even a five-year-old punching you in the face actually is..." he added, before tailing off. Watch the video by Reuters here: Musk, however, dodged a question about the drug allegations. The New York Times said Musk, the biggest donor to Trump's 2024 election campaign, also took ecstasy and psychoactive mushrooms and traveled with a pill box last year. Musk, who has long railed against the news media and championed his X social media platform as an alternative, took aim at the paper instead. "Is that the same publication that got a Pulitzer Prize for false reporting on the Russiagate?" said Musk, referring to claims that Trump's 2016 election campaign colluded with Moscow. "Let's move on. Okay. Next question." Later in the day, when a reporter asked Trump if he was "aware of Elon Musk's regular drug use," Trump simply responded: "I wasn't." "I think Elon is a fantastic guy," he added. The White House had earlier played down the report. "The drugs that we're concerned about are the drugs running across the southern border" from Mexico, said Trump's Deputy Chief of Staff Stephen Miller, whose wife works for Musk. Musk has previously admitted to taking ketamine, saying he was prescribed it to treat a "negative frame of mind" and suggesting his use of drugs benefited his work. 'Disappointed' The latest in a series of made-for-TV Oval Office events was aimed at putting a positive spin on Musk's departure. Musk is leaving Trump's administration under a cloud, after admitting disillusionment with his role and criticising the Republican president's spending plans. It was a far cry from his first few weeks as Trump's chainsaw-brandishing sidekick. At one time Musk was almost inseparable from Trump, glued to his side on Air Force One, Marine One, in the White House and at Trump's Mar-a-Lago resort in Florida. The right-wing magnate's DOGE led an ideologically-driven rampage through the federal government, with its young "tech bros" slashing tens of thousands of jobs. But DOGE's achievements fell far short of Musk's original goal of saving $2 trillion dollars. The White House says DOGE has made $170 billion in savings so far. The independent "Doge Tracker" site has counted just $12 billion while the Atlantic magazine put it far lower, at $2 billion. Musk's "move fast and break things" mantra was also at odds with some of his cabinet colleagues, and he said earlier this week that he was "disappointed" in Trump's planned mega tax and spending bill as it undermined DOGE's cuts. Musk's companies, meanwhile, have suffered. Tesla shareholders called for him to return to work as sales slumped and protests targeted the electric vehicle maker, while SpaceX had a series of fiery rocket failures.
Khaleej Times
6 hours ago
- Khaleej Times
Trump doubles global steel and aluminum tariffs to 50%, accuses China of violating trade deal
US President Donald Trump on Friday accused China of violating a bilateral deal to roll back tariffs and announced a doubling of worldwide steel and aluminum tariffs to 50 per cent, once again rattling international trade. Trump said China had violated an agreement with the US to mutually roll back tariffs and trade restrictions for critical minerals and issued a new veiled threat to get tougher with Beijing. "China, perhaps not surprisingly to some, has totally violated its agreement with US. So much for being Mr. Nice Guy!," Trump said in a post on his Truth Social platform. Later, at a rally in Pennsylvania promoting an impending "partnership" between Japan's Nippon Steel and US Steel, he announced the US would double steel tariffs from 25 per cent to 50 per cent, effective next week, which he said "will even further secure the steel industry in the United States." He subsequently announced in a Truth Social post that aluminum tariffs would also double to 50% on Wednesday. While China is the world's largest steel producer and exporter, very little is sent to the United States, as a 25% tariff imposed in 2018 shut most Chinese steel out of the market. China ranks third among aluminum suppliers. On overall trade with China, Trump said he made a "fast deal" in mid-May with Chinese officials for both countries to back away from triple-digit tariffs for 90 days. He said he did this to save China from a "devastating" situation, factory closings and civil unrest caused by his tariffs of up to 145 per cent on Chinese imports. Trump did not specify how China had violated the agreement made in Geneva, Switzerland, or what action he would take against Beijing. Asked later on Friday in the Oval Office about the China deal, Trump said: "I'm sure that I'll speak to President Xi, and hopefully we'll work that out." Rare earths licences But a US official told Reuters that it appeared China was moving slowly on promises to issue export licenses for rare earths minerals. The deal called for China to lift trade countermeasures that restrict its exports of the critical metals needed for US semiconductor, electronics and defense production. "The Chinese are slow-rolling their compliance, which is completely unacceptable and it has to be addressed," US Trade Representative Jamieson Greer told CNBC, without specifying how that would happen. Indeed, Reuters reported on Friday that global auto executives are sounding the alarm on an impending shortage of rare-earths magnets from China – used in everything from windshield-wiper motors to anti-lock braking sensors – that could force the closure of car factories within weeks. Liu Pengyu, a spokesperson for China's embassy in Washington, said China has maintained communications on trade matters with US counterparts since the Geneva talks, but raised concerns about US export controls. "China once again urges the US to immediately correct its erroneous actions, cease discriminatory restrictions against China and jointly uphold the consensus reached at the high-level talks in Geneva," Liu said in a statement. Reuters reported earlier this week that the US has ordered a broad swath of companies to stop shipping goods to China without a licence and revoked some existing export licences, according to three people familiar with the matter. Products affected include design software and chemicals for semiconductors, butane and ethane, machine tools and aviation equipment, these sources said. Spokespersons for the White House, the US Treasury and the US Trade Representative's Office did not respond to requests for comment. China talks 'stalled' On Thursday, Treasury Secretary Scott Bessent told Fox News Channel that US trade talks with China were "a bit stalled" and that getting a deal over the finish line will likely need the direct involvement of Trump and Xi. The US-China agreement two weeks ago to dial back triple-digit tariffs for 90 days prompted a massive relief rally in global stocks, and along with other pauses on Trump's import taxes, lowered the effective US tariff rate to the mid-teens from around 25 per cent in early April. It was less than 3 per cent when Trump took office in January. The temporary truce between Washington and Beijing, however, had done nothing to address the underlying reasons for Trump's tariffs on Chinese goods, mainly longstanding US complaints about China's state-dominated, export-driven economic model, leaving those issues for future talks. Major US stock indexes ended little changed on Friday after Trump's complaint about China's compliance. Trump's social media post came two days after a reporter infuriated him by asking him about Wall Street's new term for bets that he will back off extreme tariff actions - the "TACO" trade, an acronym coined by a Financial Times columnist for "Trump Always Chickens Out." "I chicken out? Oh, I've never heard that. You mean because I reduced China from 145 per cent that I set, down to 100 and then to another number?" Trump said, later adding: "It's called negotiation." Trump's tariff strategy also suffered a major setback on Wednesday when the US Court of International Trade ruled that his broad global tariffs, including those on China, were invalid because he exceeded his authority under an emergency powers law used to back them. An appeals court has issued a temporary stay for the decision, allowing them to remain in place for tariffstrump tariffs
