Latest News from Economic Key
Economic Key
19 hours ago
- Business
- Economic Key
LG Egypt Partners with Misr El Kheir Foundation to Launch "Better Home" Initiative
As part of its corporate social responsibility program 'Life's Good', LG Egypt has launched its new initiative in collaboration with Misr El Kheir Foundation titled 'Better Home', aimed at supporting underserved communities and enabling dignified, stable living conditions for Egyptian families. The initiative officially kicked off in Basat Karim El Din village, located in Sherbin district, Dakahlia Governorate, in direct support of Misr El Kheir's long-standing Marriage Facilitation Program. The program helps empower young couples to start their lives together in safe and stable environments. As part of the contribution, LG Egypt donated a selection of home appliances, including top-load washing machines and 43' smart televisions, some of the company's latest high-efficiency models designed with advanced technologies to provide reliable, user-friendly experiences for beneficiary families. This in-kind donation aligns with LG's vision of bringing the 'Life's Good' philosophy to life, delivering both tangible and emotional support to those most in need. The initiative reflects LG's continued efforts to enhance community infrastructure and contribute to long-term sustainable development across Egypt. Mohamed El-Gadawy, Marketing and Public Relations Director at LG Egypt, commented: 'The launch of 'Better Home' under our Life's Good slogan is a continuation of our commitment to initiatives that empower Egyptian families to build stable, dignified lives. The true meaning of Life's Good is about offering smart, human-centric solutions that create real value inside people's homes.' From Misr El Kheir's side, Eng. Ahmed Youssef, Senior Director of the Direct Aid Program at Misr El Kheir, expressed his appreciation for the collaboration with LG Egypt, stating: 'Our direct aid programs run year-round, reaching deserving families in every governorate, and stem from our belief in the Foundation's vital role in uplifting communities. We value our ongoing partnership with LG Egypt, which has extended across multiple sectors within the Foundation, and we look forward to its continued expansion.' Youssef emphasized that the initiative aligns closely with Misr El Kheir's overarching mission to develop human capital and uplift human dignity. LG Egypt reaffirmed that this initiative marks only the beginning of a wider series of community engagement programs under the Life's Good slogan, with upcoming activations expected to expand across additional governorates in the near future — further strengthening the company's contribution to sustainable development in Egypt. تم نسخ الرابط
Economic Key
19 hours ago
- Automotive
- Economic Key
Stellantis Appoints Antonio Filosa as New CEO After 25 Years of Leadership Experience Within the Company
Stellantis N.V. (the 'Company') announces that its Board of Directors (the 'Board') has unanimously selected Antonio Filosa as its new Chief Executive Officer following a thorough search process of internal and external candidates, undertaken by a Special Committee of the Board, led by Executive Chairman John Elkann. The Company will now hold an Extraordinary Shareholder Meeting, which will be called in the coming days, for Antonio Filosa to be elected to the Board to serve as an executive director of the Company. Meanwhile, to give him full authority and ensure an efficient transition, the Board has granted him CEO powers effective June 23. The Board selected Antonio Filosa to be CEO based on his proven track record of hands-on success during his more than 25 years in the automotive industry, the depth and span of his experience around the world, his unrivalled knowledge of the Company and his recognized leadership qualities. Antonio Filosa has led Stellantis in both North and South America. During his time as Chief Operating Officer of South America, he took the FIAT brand to the market leading position and then significantly grew the Peugeot, Citroën, Ram, and Jeep®️ brands. As a result, Stellantis increased its clear leadership in the region. His work on the creation of the Pernambuco plant, one of South America's largest automotive hubs, launched Jeep®️ in Brazil, which quickly became the brand's leading market outside of the United States. As Jeep®️ CEO, Antonio Filosa expanded the brand's global presence, including in Europe where its models continue to be best sellers for the Company thanks to hugely popular products such as the Jeep Avenger. He was most recently promoted to the role of Chief Operating Officer, Americas in December 2024. Since his appointment, he has initiated the strengthening of the U.S. operations, including by significantly reducing excessive dealer inventory, reorganizing the leadership team, driving the process of introducing new products and powertrains, and increasing dialogue with dealers, unions and suppliers. John Elkann will continue in his role as Executive Chairman when Antonio Filosa takes up his position as Chief Executive Officer on June 23. At that time, Antonio Filosa will also announce Stellantis' new leadership team. 'Antonio's deep understanding of our Company, including its people who he views as our core strength, and of our industry equip him perfectly for the role of Chief Executive Officer in this next and crucial phase of Stellantis' development,' said Stellantis Executive Chairman John Elkann. 'I have worked closely with Antonio over the past six months during which time his responsibilities have increased, and his strong and effective leadership spanning both North and South America at a moment of unprecedented challenge have confirmed the excellent qualities he brings to the role. Together with the entire Board, I look forward to working with him.' 'We unanimously welcome Antonio's appointment as our new Chief Executive Officer,' added Stellantis Vice Chairman Robert Peugeot. 'His track record of successful leadership during his many years with our Company speaks for itself and this, together with his deep knowledge of our business and of the complex dynamics facing our industry, make him the natural choice to become Stellantis' next CEO.' 'The appointment of Antonio Filosa to lead Stellantis opens a new and important chapter for our Company,' said Nicolas Dufourcq, CEO of the Banque Publique d'Investissement (Bpifrance). 'At a moment of transformation for the global automotive industry, Antonio Filosa has the knowledge, the experience, and the talent to lead Stellantis to new successes.' 'It is my great honor to be named the CEO of this fantastic Company,' said Antonio Filosa. 'I am grateful to our Chairman, John Elkann, and to the members of our Board for their leadership, particularly in these recent months, and for the confidence they have placed in me to lead our business during this pivotal time for our industry. I have always been inspired by the immense talent, passion and commitment of our people at Stellantis and the power of trusting our teams to achieve excellence. We have the world's best and most iconic brands in automotive history and an over 100-year heritage of innovation. That legacy, combined with our relentless dedication to giving our customers the products and services they love, will continue to be key to our success.' تم نسخ الرابط
Economic Key
a day ago
- Business
- Economic Key
ADNOC Distribution and TotalEnergies Launch Locally-Made ADNOC Voyager Lubricants in Egypt
ADNOC Distribution, in partnership with TotalEnergies Marketing Egypt (TEME), has announced the launch of ADNOC Voyager lubricants across Egypt. This marks the first time ADNOC Voyager products will be available at third-party points of sale in the country. ADNOC Voyager products are currently available at select points of sale in greater Cairo and the Nile Delta, as well as on Amazon and noon e-commerce platforms, with ambitions to reach 3,000 points of sale nationwide by the end of 2026. The launch of ADNOC Voyager lubricants across Egypt is a strategic milestone for the brand, combining local manufacturing with expanded distribution capabilities. Selected ADNOC Voyager products are produced at a state-of-the art TEME blending facility in Borg El Arab, contributing to Egypt's industrial development, creating skilled job opportunities, strengthening local supply chains, and reducing dependence on imports. This aligns with Egypt's broader economic strategy to boost domestic production and attract foreign investment into the industrial sector. Eng. Bader Saeed Al Lamki, CEO of ADNOC Distribution, stated: 'The national launch of ADNOC Voyager lubricants in Egypt marks a key milestone in our strategy to expand the reach of ADNOC's trusted, high-performance lubricants across Egypt and North Africa. The roll-out builds on ADNOC Distribution and TotalEnergies' shared commitment to sustainable growth and innovation, while deepening our collaboration, expanding ADNOC's regional footprint, and building future-ready capabilities that serve national priorities and regional markets alike.' With the nation-wide rollout, ADNOC Distribution – which acquired 50% of TotalEnergies Marketing Egypt in 2023 – continues to deliver on its international growth strategy, expanding its footprint beyond the UAE and Saudi Arabia into North Africa. By entering Egypt's high-potential fuel retail and mobility market, ADNOC Distribution has gained access to North Africa's largest customer base, supporting its ambition to become a leading regional mobility player in line with its five-year growth strategy. Thomas Strauss, Managing Director & Country Chair of TotalEnergies Marketing Egypt, shared his enthusiasm: 'Launching ADNOC Voyager Lubricants in Egypt is a proud achievement for TEME and a reflection of the strength of our partnership. By manufacturing locally in Borg El Arab, we are ensuring accessibility, reliability, and top-tier performance for our customers. TotalEnergies Marketing Egypt represents a unique collaboration, proving that the two energy majors – TotalEnergies and ADNOC Distribution – can come together to drive innovation and elevate industry standards. By leveraging our combined expertise, we are crafting an efficient, sustainable supply chain that benefits the local market.' At the official launch event, held at the historic Abdeen Palace in Cairo, ADNOC Distribution unveiled its 'Voyager: Powering Your Everyday Performance' campaign for the Egyptian market, highlighting the lubricant range's superior protection, efficiency, and reliability. The launch was attended by key government officials and industry leaders, including Eng. Karim Badawy, Minister of Petroleum and Mineral Resources, and Abdulbaset Mohammed Al Marzouqi, Deputy Head of Mission and Acting Chargé d'Affaires of the UAE Embassy in Cairo. The event also welcomed top executives from ADNOC Distribution and TotalEnergies Marketing Egypt, led by Eng. Bader Saeed Al Lamki, CEO of ADNOC Distribution; Jean-Philippe Torres, Senior Vice-Present of TotalEnergies for Africa; and Thomas Strauss, Managing Director and Country Chair of TotalEnergies Marketing Egypt. ADNOC Voyager offers a wide range of high-performance products for automotive, industrial, and marine applications. With over 180 international OEM approvals and certifications from API and JASO, ADNOC Voyager is trusted in more than 47 countries worldwide and remains the leading lubricant brand in the UAE. With a market size of nearly 450 kilotonnes annually, Egypt is one of Africa's largest lubricants markets, with sustained demand driven by new presidential development projects and a growing auto manufacturing sector. تم نسخ الرابط
Economic Key
2 days ago
- Business
- Economic Key
Half of Al-Massiah Pilgrims Arrive, Serving Social and Tourism Delegations from 21 Countries Including Egypt
Al-Massiah Pilgrims Services Group — the official and accredited provider for Hajj pilgrims from Egypt's Social Solidarity and Tourism sectors (both land route and five-star categories) — announced that over 53% of the total pilgrims contracted for the 1446H (2025) Hajj season have arrived in Makkah. The pilgrims entered through various air, land, and sea ports. Bander bin Abdulrahman Damanhouri, Vice Chairman of Al-Massiah, confirmed that the reception of pilgrims, including the Egyptian contingent, follows a meticulously planned, phased process to ensure smooth arrivals, seamless accommodation allocation, and efficient transportation — all leading up to the full arrival of pilgrims before the Day of Tarwiyah. He noted that the group's field service offices have welcomed pilgrims from Egypt, Sierra Leone, Lebanon, Indonesia, Singapore, Benin, Madagascar, Tanzania, Malaysia, Thailand, Zimbabwe, Guinea, and Sudan, in a warm and authentically Saudi atmosphere. Upon arrival, pilgrims were greeted with Zamzam water, dates, traditional Saudi coffee, flowers, and commemorative gifts. Damanhouri added that the services are being delivered in full coordination with Saudi government entities to provide high-quality support in transportation, housing, catering, and crowd management. This comes in line with the directives of the wise leadership and within the goals of Saudi Vision 2030, which places serving the Guests of Allah as a top national priority. Several Egyptian pilgrims and others from different nationalities expressed their deep appreciation for the high level of service and organization. They praised the heartfelt welcome and care they received from the moment they arrived, emphasizing their gratitude for the Kingdom's ongoing efforts in serving Islam and Muslims. تم نسخ الرابط
Economic Key
2 days ago
- Automotive
- Economic Key
Mercedes-Benz Egypt Hosts the 6th round of MercedesMasters Golf Tournament at Katameya Dunes on May 24
Mercedes-Benz Egypt brought together customers, golf enthusiasts and brand loyalists for a memorable day on Saturday, May 24th, for the 6th edition of the MercedesMasters Golf Tournament, held at the scenic Westin Cairo Golf Resort & Spa, Katameya Dunes. The annual tournament has become a highlight on the local sporting calendar, blending athletic excellence with the refined elegance that defines the Mercedes-Benz brand. Guests were treated to more than just a day of golf. From the opening tee-off to the closing awards ceremony, the atmosphere reflected Mercedes-Benz's ongoing commitment to creating exceptional customer experiences. A stunning showcase of the latest models was on display, featuring our main stars—the all-new AMG GT 63 Coupé and the Mercedes-Maybach EQS SUV Night Series—alongside other standout vehicles such as the AMG SL 55, AMG G 63 Grand Edition, CLE 200 Cabriolet, and the Mercedes-Maybach S 580, offering attendees a first-hand look at the brand's newest innovations and designs. 'MercedesMasters reflects who we are as a brand—committed to creating moments that bring people together around shared passions,' said Stefanie Volz, CEO of Mercedes-Benz Egypt during Prize-giving ceremony. 'It's always a pleasure to spend time with our golfers community, and this tournament is a celebration of the values we stand for: performance, elegance, and genuine connection.' The day concluded with a celebratory dinner and prize distribution, where the winning players were honored. Lively conversation, music, and a warm ambiance carried the evening into a festive close. The tournament once again provided an ideal setting for connecting with the brand's valued community of partners, customers, and media friends in a relaxed and inspiring environment. With each edition, the MercedesMasters continues to grow—not just in scale, but in meaning. It has become a reflection of what Mercedes-Benz Egypt stands for: timeless quality, performance, and a spirit of togetherness. تم نسخ الرابط
