Latest news with #DailyNewsEgypt
Daily News Egypt
3 days ago
- Business
- Daily News Egypt
Haleon captures over 20% market share in Egypt, locally manufactures 90% of product portfolio
Haleon, the global consumer health leader, has reinforced its footprint in Egypt following its demerger from GSK in July 2022. The company now holds over 20% of Egypt's consumer health market and manufactures approximately 90% of its flagship brands locally, according to Asif Alavi, General Manager for North Africa at Haleon. Speaking to Daily News Egypt, Alavi said that local production covers trusted household names such as Sensodyne, Parodontax, Panadol, Otrivin, and Voltaren Emulgel, underscoring Haleon's commitment to supply chain resilience and economic contribution through technology transfer and export capabilities. Egypt serves as a key regional base for exports to the Maghreb, Gulf countries, and Saudi Arabia. Alavi emphasized that local manufacturing has helped shield the company from global economic volatility, including inflation, currency fluctuations, and supply chain disruptions. 'Our strategy has significantly minimized exposure to global shocks, enabling us to maintain stability and accessibility in the Egyptian market,' he noted. Globally, Haleon is advancing its innovation pipeline, including a £130m investment in a new Global Oral Health Innovation Centre in Weybridge, UK, slated to open in 2027. The facility will support Haleon's category leadership in oral health and accelerate R&D for key brands like Sensodyne, which Alavi described as resilient due to its therapeutic value and strong dentist recommendations—even during economic downturns. Recognizing the price sensitivity in emerging markets, Haleon has adopted a multi-format, tiered pricing strategy to ensure broad accessibility. The company also champions self-care as a cornerstone of sustainable healthcare. Alavi cited research by the Global Self-Care Federation, which estimates self-care interventions have already delivered $119bn in global healthcare cost savings and $1.9trn in welfare gains—figures projected to rise to $179bn and $2.8trn, respectively. Looking ahead, Alavi reaffirmed Haleon's long-term vision in Egypt: 'We are committed to being a core contributor to the Egyptian healthcare ecosystem—by making everyday health more accessible, inclusive, and sustainable.'
Daily News Egypt
21-05-2025
- Business
- Daily News Egypt
Egypt's Al-Sisi discusses economic indicators, forex reserves with PM, CBE Governor
Egypt's President Abdel Fattah Al-Sisi met with Prime Minister Mostafa Madbouly and Central Bank Governor Hassan Abdalla on Tuesday to review key economic indicators. According to a presidential spokesperson, the meeting addressed macroeconomic trends, government initiatives to bolster the banking sector, and strategies for strengthening the nation's foreign exchange reserves. Discussions also covered ensuring the continued availability of sufficient foreign currency and ongoing efforts to reduce inflation. Ambassador Mohamed El-Shennawy, the presidential spokesperson, elaborated that the meeting also examined various aspects of the Egyptian economy's performance. This included government efforts to ensure the successful and effective implementation of the economic development programme, insulating it from current regional and international challenges. Additionally, the talks focused on enhancing incentives to capitalise on available economic opportunities and empowering the private sector to drive economic growth, thereby attracting further investment inflows. The spokesperson added that President Al-Sisi directed officials to continue intensive efforts to create a conducive environment for attracting more foreign investment and empowering the private sector. This involves developing an appropriate legislative and regulatory framework and launching incentive initiatives, all while maintaining the improvements observed in macroeconomic indicators to ensure the effective execution of development programmes. Data from the Central Bank of Egypt revealed that foreign exchange reserves climbed to $48.144bn by the end of April from $47.757bn at the end of March. According to calculations by Daily News Egypt, the levels recorded at the end of April are the highest in decades. Egypt's foreign exchange reserves are composed of the state's gold reserves, revenues from the Suez Canal, proceeds from Egyptian exports, and remittances from Egyptians working abroad. The reserves had previously risen in March 2025 to $47.757bn, up from $47.394bn at the end of February.
Zawya
06-05-2025
- Business
- Zawya
Egypt, Jordan explore joint projects in water, food, and energy sectors
On the sidelines of the seventh Arab Water Week in Amman, Egypt's Minister of Water Resources and Irrigation, Hani Sewilam, met with Prince El Hassan bin Talal of Jordan to discuss enhanced bilateral cooperation in the water and natural resources sectors. The meeting was also attended by Egypt's Ambassador to Jordan, Mohamed Samir, and Marwan Al-Raggad, President of the Islamic Network on Water Resources Development and Management. Talks centered on strengthening collaboration between Egypt's Ministry of Water Resources and Irrigation and Jordan's Ministry of Water and Irrigation, with a particular focus on joint initiatives under the 'Water-Energy-Food-Ecosystems Nexus' (WEFE NEXUS) framework. Opportunities for cooperation through the Islamic Network on Water Resources Development and Management were also discussed. Minister Sewilam highlighted the critical role of desalination in enabling large-scale food production, noting that its viability depends on significantly lowering energy costs. He announced that Egypt, Jordan, and Saudi Arabia are currently preparing a regional initiative to exchange expertise in desalination technologies to support sustainable agricultural expansion. The discussion also covered Egypt's flagship agricultural wastewater treatment projects—including the New Delta, Bahr El-Baqar, and Al-Mahsama plants—which are expected to contribute around 5 billion cubic meters of treated water annually by 2026. Both sides explored possibilities for knowledge exchange in wastewater reuse and treatment. Additionally, the two parties emphasized the importance of subsurface drainage systems, which have proven to improve crop yield and quality. They also stressed the need for joint scientific research on developing salt- and drought-tolerant crop varieties as part of a wider climate adaptation strategy. The conversation highlighted the urgency of implementing tangible projects to adapt to climate change, referencing Egypt's ongoing coastal protection efforts along the Mediterranean as a model. Participants called on industrialized countries—responsible for the bulk of global greenhouse gas emissions—to provide climate financing to Arab countries in the form of grants rather than loans, acknowledging the region's minimal contribution to global emissions. The meeting concluded with a shared call to deepen Arab cooperation through knowledge-sharing, the dissemination of climate adaptation success stories, and the wider adoption of nature-based solutions in future water infrastructure projects. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. ( Daily News Egypt
Daily News Egypt
05-05-2025
- Automotive
- Daily News Egypt
TAITRA's James CF Huang on Tariffs, Mobility Trends, and Taiwan's Trade Future
Daily News Egypt interviewed James CF Huang, Chairperson of the Taiwan External Trade Development Council (TAITRA), on the sidelines of the 2025 360° MOBILITY Mega Shows in Taipei. He discussed the impact of US tariffs, the outcomes of the recent mobility expo, and TAITRA's broader strategy for enhancing Taiwan's global trade competitiveness. From TAITRA's perspective, how significantly are US tariffs currently impacting Taiwanese businesses, and which sectors are most affected? The recent US tariff adjustments have certainly added pressure to global supply chains, and Taiwanese companies are not exempt from these impacts. In particular, sectors such as automotive parts, electronics, and machinery—which maintain close trade ties with the U.S. market—have felt the most direct effects. However, Taiwan's industry is known for its resilience and adaptability. Many companies are actively adjusting their supply chain strategies, diversifying customer bases, and exploring new production and logistics models to mitigate risks. Beyond immediate challenges, how are these tariff situations influencing TAITRA's long-term strategy for promoting Taiwanese exports and diversifying markets away from traditional hubs? TAITRA has proactively strengthened its long-term strategy to support Taiwanese exporters in navigating the evolving global landscape. We are actively working to diversify export markets, with increased focus on Southeast Asia, Europe, Latin America, and emerging markets. In addition, through initiatives targeting the Americas market, such as those introduced during the 360° MOBILITY Mega Shows, we are helping companies explore investment opportunities and build new supply chain linkages beyond traditional hubs. TAITRA will continue to provide intelligence, matchmaking platforms, and strategic consultation services to empower businesses in building resilient, globally diversified operations. The 360 Mobility Expo recently concluded. Could you share the final figures regarding the number of exhibitors, who participated this year? This year's 360° MOBILITY Mega Shows—featuring Taipei AMPA and E-Mobility Taiwan under a newly launched brand—was held concurrently with Autotronics Taipei, bringing together a total of 1,000 exhibitors from 17 countries, across 2,500 booths at Taipei Nangang Exhibition Centre Hall 1. Together, the three exhibitions created Asia's most comprehensive mobility industry showcase, highlighting Taiwan's strengths across components, systems integration, and innovative mobility solutions. A key measure of success for trade shows is tangible business outcomes. Does TAITRA have an estimate of the value or number of deals and concrete business opportunities generated during the expo? To drive tangible outcomes, TAITRA organised over 200 on-site procurement meetings, connecting Taiwanese suppliers directly with international buyers from key markets including the United States, Japan, China, Malaysia, and South Korea. With 4,000 international buyers from over 110 countries and regions, the show successfully created numerous concrete business opportunities, though final deal values are still being compiled post-event. Beyond the numbers, what were the key themes, technological highlights, or significant trends that emerged from this year's 360 Mobility Expo? This year's exhibition highlighted the accelerating trends of vehicle electrification, intelligent mobility, and sustainability. Key showcased technologies included ADAS (Advanced Driver Assistance Systems), smart cockpit solutions, vehicle-to-everything (V2X) connectivity, and autonomous driving systems. The rise of Software-Defined Vehicles (SDV) and modular vehicle design also emerged as significant trends, signalling a shift toward software-centric automotive innovation. Meanwhile, high inflation and extended vehicle ownership cycles in major markets have fuelled demand for aftermarket solutions, an area where Taiwanese suppliers excel with flexible, high-quality production capabilities. How does the success and focus of this expo reinforce Taiwan's position in the rapidly evolving global e-mobility and smart transportation landscape? The success of this year's 360° MOBILITY Mega Shows underscores Taiwan's growing role in the global smart mobility ecosystem. Taiwan's integration of semiconductors, AI, EV systems, and flexible manufacturing enables it to be a critical player in advancing electrification, intelligent mobility, and sustainability. Through showcasing cutting-edge applications such as ADAS, smart cockpits, V2X connectivity, and autonomous driving technologies, the exhibition demonstrated Taiwan's capability to innovate across the mobility value chain. Additionally, Taiwan's strong performance in the aftermarket sector—powered by its agility and consistent quality—further strengthens its competitiveness amid global supply chain shifts. As the automotive industry moves towards software-defined platforms and greener mobility solutions, Taiwan's robust ICT and semiconductor ecosystems will ensure it remains a resilient and indispensable partner in shaping the future of transportation. Considering these initiatives – navigating tariffs, exploring [markets like] Egypt, and fostering future industries like mobility – what is your overarching vision for TAITRA's role in securing Taiwan's global trade competitiveness in the next few years? At TAITRA, our overarching vision is to act as a dynamic bridge connecting Taiwan with global opportunities. In the face of evolving challenges such as tariff shifts, supply chain realignments, and emerging industries, we are committed to supporting Taiwanese businesses in building resilient, diversified, and forward-looking global strategies. We aim to: Expand market diversification, actively promoting Taiwanese exports across Southeast Asia, Europe, Latin America, Africa, and other emerging regions. Facilitate innovation-driven industries such as smart mobility, green energy, and advanced manufacturing, showcasing Taiwan's strengths in critical technologies. Strengthen global supply chain partnerships, helping Taiwanese companies enhance their global resilience and agility. Ultimately, TAITRA's role is to empower Taiwan's industries to thrive amid change—not just adapting to the future, but helping to shape it.
Zawya
05-05-2025
- Business
- Zawya
Gold prices drops in Egypt's local market: iSagha
Gold prices in Egypt's local markets fell by 2.9% during the week ending Saturday, while global gold prices declined by 2.3% over the week ending Friday, driven by a stronger US dollar and signs of easing trade tensions between the United States and China, according to a report from the iSagha platform. Said Embaby, CEO of iSagha, an online platform for gold and jewelry trading, stated that the price of 21-karat gold dropped by EGP 140 over the week, opening at EGP 4,775 per gram and closing at EGP 4,635. On the global level, gold prices fell by $78 per ounce, from $3,319 to $3,241. Embaby noted that 24k gold reached EGP 5,297 per gram, 18k gold stood at EGP 3,973, while 14k gold was priced at EGP 3,090 per gram. Meanwhile, the price of a gold pound declined to EGP 37,080. He highlighted that since peaking at EGP 5,000 per gram on April 22, local gold prices have dropped by EGP 365. Embaby advised against purchasing gold during sharp and consecutive price increases, urging buyers to wait for market stability to avoid losses. He emphasized that more favorable buying and selling opportunities arise during periods of relative calm. According to Embaby, gold sales in Egypt had improved noticeably in recent weeks amid rising prices, as many citizens rushed to buy out of fear of missing out on further increases—a move that could either result in short-term gains or eventual losses if prices retreat. On the global stage, gold prices were weighed down by profit-taking activity and signs of progress in US-China trade relations. Recent US employment data released on Friday also contributed to the decline, prompting investors to lock in profits. China revealed it is considering a US proposal to resume trade talks, marking what could be a significant step toward resolving the prolonged trade dispute between the world's two largest economies. Analysts suggest that recent economic indicators might encourage the US Federal Reserve to consider a rate cut during its upcoming meeting on Wednesday, May 7. However, the Fed has so far maintained a neutral stance, citing a resilient labor market and ongoing inflation risks. Gold prices have dropped more than 7% since their peak of $3,500 per ounce on April 22. Nevertheless, prices remain up roughly 24% year-to-date, supported by lingering economic uncertainty and volatility in US politics. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. ( Daily News Egypt
