Latest news with #HoldingCompany
Egypt Today
6 days ago
- Business
- Egypt Today
Egypt & U.S. Form Joint Venture to Boost Global Pharmaceutical Exports
CAIRO - 28 May 2025: The Holding Company for Pharmaceuticals, Chemicals, and Medical Supplies has entered into a strategic joint venture with American pharmaceutical firm Dawah Pharma. This partnership marks a significant step in Egypt's push to expand its pharmaceutical footprint globally, with plans to manufacture and export a broad range of pharmaceutical products and dietary supplements to international markets. Minister of Public Business Sector Mohamed Shimi announced that the new venture will produce a diverse portfolio of products, including ampoules, sterile injections, ophthalmic solutions, over-the-counter (OTC) medications, and dietary supplements. The joint venture structure grants the Egyptian side a 40 percent share, while Dawah Pharma holds a 60% majority stake. The newly formed company will focus primarily on exporting its products and opening new channels in global markets. In a milestone move, the partnership's first phase will see the manufacture and export of six specific dietary supplements to the United States—marking the first time in the Holding Company's history to achieve such a feat after meeting rigorous international standards and requirements. The agreement also leverages advanced pharmaceutical manufacturing technologies, including the production of syrups, tablets, ampoules, pre-filled syringes, and transdermal patches. These innovations are expected to significantly accelerate product deployment and support long-term growth for the Holding Company and its subsidiaries. Shimi stressed that the new company will strictly follow international regulatory standards, particularly those enforced by the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA). Adhering to these benchmarks will boost the global competitiveness of Egyptian pharmaceuticals—not only in the high-demand markets of Europe and North America but also in emerging markets across Africa and Asia.
Zawya
14-05-2025
- Business
- Zawya
Egypt explores investment cooperation with Chinese investors in textile sector
Egypt - Minister of Public Business Sector Mohamed Shimi has received a high-level Chinese delegation comprising 37 investors and representatives from around 25 major textile companies, according to a statement. The meeting aims to strengthen economic and investment cooperation between Egypt and China while promoting partnership opportunities in the spinning and weaving industry. It also outlined the Egyptian textile industry and the Holding Company for Cotton Spinning and Weaving's achievements in the sector. Shimi also reviewed the company's strategy in light of the national project to boost the spinning and weaving industry. This project currently includes 10 subsidiaries, all implementing a comprehensive development and restructuring plan across financial, technical, administrative, and marketing aspects. The minister explained that the national project aims to restore Egypt's global leadership in the spinning and weaving industry by offering world-class products, deploying the latest industrial technologies, and maximizing production capacity. It also seeks to increase market share and profitability and strengthen customer confidence both locally and globally. Moreover, Shimi reflected on Egypt's attractive investment components, including the geographical location, the availability of advanced industrial infrastructure, and free trade agreements with several countries. He also affirmed the availability of high-quality raw materials, particularly Egyptian cotton, and the advanced technology utilized in new factories. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
07-05-2025
- Business
- Zawya
Egypt: Canal Shipping posts 66% YoY profit hike in 9 months
Arab Finance: Canal Shipping Agencies (CSAG) has reported a 66% year-on-year (YoY) increase in net profits after tax during the first nine months of the fiscal year (FY) 2024/2025, recording EGP 945.194 million, compared to EGP 570.868 million, according to financial indicators filed to the Egyptian Exchange (EGX) on May 6th. Revenues rose 21% YoY to EGP 93.503 million from July 1st, 2024, until March 31st, 2025, compared to EGP 77.072 million in the same period a FY earlier. Canal Shipping is a subsidiary of the Holding Company for Maritime and Land Transport that provides marine port services and shipping services to international commercial fleets. The company operates four agencies, namely Aswan Shipping Agency, Assuit Shipping Agency, El Menia Shipping Agency, and Damanhour Shipping Agency. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Arabian Post
06-05-2025
- Business
- Arabian Post
DMCC Launches New Licences to Enhance Business Flexibility
Dubai Multi Commodities Centre has unveiled two new business licence categories designed to offer greater flexibility and efficiency for companies operating in the UAE. The newly introduced Special Purpose Vehicle and Holding Company licences are aimed at providing businesses with enhanced options for structuring investments, managing assets, and overseeing operations across the region. The initiative reflects DMCC's continued efforts to adapt to the evolving needs of the business community in a dynamic economic environment. These new licences enable companies to set up their operations without the traditional need for physical office space or extensive operational infrastructure, which can often add significant costs and complexity. DMCC, a global hub for commodities trade and enterprise, has established itself as a leader in supporting businesses with innovative solutions. The introduction of these licence categories offers companies more agile ways to organise their assets and operations, a feature particularly valuable for international businesses looking to establish a regional presence with minimal overhead. The SPV licence is specifically designed for companies that need to establish a separate legal entity for a specific investment or project. This licence structure allows businesses to segregate financial risk and protect assets, which is particularly useful for investment managers, private equity firms, and venture capitalists. The SPV structure has become a popular tool in international business due to its ability to provide greater clarity and control over financial operations, without the complexities associated with full-scale corporate setups. On the other hand, the Holding Company licence is targeted at companies looking to manage and oversee multiple subsidiaries, investments, or assets under a unified structure. This type of licence allows for tax efficiencies and optimised asset management, providing a streamlined approach for entities looking to centralise their operations without the need to establish multiple legal entities in various jurisdictions. Holding companies are often used by larger corporations to consolidate control over subsidiaries, diversify investments, and manage international assets more effectively. One of the key advantages of these new licences is their cost-effective nature. Traditional business setups in Dubai often involve hefty office rental and infrastructure costs, which can be a barrier for smaller businesses or startups. The SPV and Holding Company licences eliminate the need for a physical office, allowing companies to operate efficiently with reduced overheads while still benefiting from the tax advantages and legal protections afforded by DMCC's established regulatory framework. The timing of this move is significant, as businesses continue to adapt to a post-pandemic world where remote working and digital solutions are increasingly becoming the norm. The ability to operate without the need for a physical office reflects a broader global trend towards more flexible, scalable business models that can quickly adjust to changing market conditions. As the UAE continues to position itself as a leading global business hub, DMCC's introduction of these licence categories is also expected to attract foreign investment. By offering a simplified, flexible framework, the DMCC hopes to draw in a wider range of international companies looking for a base in the Middle East. The move is likely to appeal to investment firms, asset managers, and multinational corporations seeking a strategic location to manage their regional operations without the administrative burden of a physical office. The new licences align with Dubai's broader strategy to diversify its economy and foster innovation. By encouraging businesses to use Dubai as a base for regional and global operations, the UAE aims to continue its push as a competitive and forward-thinking economic hub. The SPV and Holding Company licences also offer companies the chance to tap into the rapidly growing sectors of finance, technology, and trade, all of which are integral to Dubai's vision for the future. See also Global Tax Recoveries from Panama Papers Near $2 Billion DMCC's introduction of these licences comes at a time when businesses are looking for ways to streamline their operations and maximise efficiencies in an increasingly complex global marketplace. The new licences offer businesses the opportunity to do so while ensuring compliance with the UAE's regulatory standards, providing a secure legal environment for conducting business. This is expected to drive further growth in sectors such as fintech, commodities trading, and investment management, areas where DMCC already holds a strong presence. With these changes, DMCC reinforces its reputation as an adaptable and forward-looking free zone. The introduction of the SPV and Holding Company licences presents an attractive proposition for businesses seeking efficient and cost-effective ways to operate in one of the world's most vibrant economic regions. The decision to remove the requirement for physical office spaces is a game changer, offering businesses the flexibility to operate from anywhere while still maintaining access to the UAE's highly favourable business environment. The new licences are part of a broader trend towards digital transformation in the UAE's business landscape. As more companies embrace digital tools and remote work, the demand for flexible, scalable business structures like the SPV and Holding Company licences is expected to increase. In this context, DMCC's proactive approach positions it as a leader in offering modern business solutions that align with global trends and local needs.
Boston Globe
09-04-2025
- Entertainment
- Boston Globe
R. Crumb helped invent modern comics, but we haven't known much about his life … until now
Robert found sanctuary from this raging domestic mess in comic books, though he rejected superheroes. Who was Superman, really, if not another brawny bully like Crumb's alcoholic uncles? Instead, he was drawn to the animal adventures of Walt Disney's animation empire, especially Donald Duck and Uncle Scrooge comics penned by a former Disney 'story man' named Carl Banks, whose richly detailed work, '[imbued] with psychological and emotional depth,' suited Crumb's desire for a meticulously rendered private universe. Young Robert began furiously drawing, inking, and writing his own comics with Charles. A few years later, Crumb hightailed it to Cleveland for a key apprenticeship making birthday cards for American Greetings. Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up Crumb felt the pull of the nascent counterculture well before he became a reluctant counter-cultural figure, taking his first acid trip with his first wife, Dana, in 1965, a mammoth 600-microgram dose that changed his life. 'When I took LSD I realized I was trying to be smart all the time,' he tells Nadel. 'And LSD made me realize that doesn't matter at all. If you trust your instincts … it's all right there.' Acid introduced Crumb's subconscious to the hermetic world of his art, a liminal space, writes Nadel, 'that ushered in ideas whose real meanings were a mystery even to him.' Crumb in 1966 would create his familiar gallery of comic book avatars — Eggs Ackley, Flakey Foont, and Mr. Natural, his first 'Keep on Truckin'' high-stepper. The comics were brazenly perverse and sharply satirical, stories of sexual fetishism and urban depravity next to gently savage attacks on religion and the nuclear family. The die was cast: Crumb was an outsider raging against the mindless conformity of postwar America, Salinger with a Rapidograph pencil. Advertisement Nadel pegs this as the moment when Crumb's id took charge, ushering in a new era of highly idiosyncratic personal and social exploration in comic art. In 1967 Crumb was settled in San Francisco, just in time for the Summer of Love and a psychedelic renaissance. Zap Comix, Crumb's first comic to get wide national distribution, was a watershed moment in adult comics. Grounding his work in what Nadel calls 'surreal happenstance … semipolitical essayistic comics, or visual poetry,' Crumb became the leading voice in an alternative comics movement that also included Gilbert Shelton, Victor Mososco, and S. Clay Wilson. Advertisement With Crumb's success came an ambivalent entry into the mainstream of American consumer culture, the very thing he had savaged in his comics. The perennially poor Crumb took on a few commissions, most notably the album art for Big Brother and the Holding Company's 'Cheap Thrills,' thus finding his work landing in the bedrooms of suburban teenagers everywhere. Mr. Natural became the first meme of its time, appearing without his consent on posters, T-shirts, and lunchboxes. Crumb sued every one of Mr. Natural's bootleggers. The idea of selling out was anathema, especially if it meant compromising a worldview that was taking on a darker, more disturbing cast. 'Snatch,' a 1968 comic book collaboration with Wilson, was an opportunity for Crumb to work through his complicated feelings toward women, a preoccupation which became a leitmotif for Crumb's career. Yet even as he insisted that stories like 'Don't Touch Me!' and 'The Adventures of Dick Nose' were pornographic satires, it's hard to find the humor in them. Understandably, this is the place where many Crumb fans get off the bus, as it becomes difficult to square the lacerating satirist with the coarse misogynist. Nadel, to his credit, doesn't make excuses for Crumb, calling this work 'the ugliest vision of white male heterosexuality' while allowing that Crumb's sexual frankness was a form of self-laceration: 'He was ruining the wet dream with grotesque nightmares.' Crumb is a complex guy, in short, and Nadel understands that genius and virtue are often incompatible, especially with an individual as tortured as his subject. There is a lot of ugliness from Crumb here, including parental neglect and serial philandering, but there is also his abiding love and deep respect for his second wife, comic book artist Aline Kominsky, which held for nearly 50 years until her death in 2022. Nadel tells their story movingly, with empathy and affection. Advertisement Having hounded the reclusive Crumb for years to get his approval and cooperation, Nadel, a curator-at-large for the Lucas Museum of Narrative Art, was amply rewarded with unlimited access to Crumb's personal archive: thousands of pages of diaries, letters, and sketchbooks, as well as a timeline of Crumb's life from 1943 to 2005. This material, as well as Nadel's interviews with Crumb, gives his biography the kind of granular texture and thematic heft that Crumb's life and work deserves. CRUMB: A CARTOONIST'S LIFE By Dan Nadel Scribner, 480 pages, $35 Marc Weingarten is the author of ' .'
