Search Results for: Egyptian

*UAE family-owned businesses still debt shy, says top CFO

In the United Arab Emirates (UAE), family-owned businesses contribute up to 70% of GDP, according to the ministry of economy, and continue to be a powerful force in the Gulf region, the ACT Middle East Treasury Summit 2024 was told.…

The textile industry is undergoing a transformative shift with the increasing use of prepared-for-print (PFP) fabrics, essential in the digital textile printing landscape. These innovations are driven by technological advancements, sustainability efforts and market demand for quality and efficiency. Leading companies such as France-based finishing technology provider SENFA; Haryana, India-based cloth manufacturer Pearl Global Industries; and Paris, France-based interlinings manufacturer Chargeurs are at the forefront of this evolution.…

Companies and public sector organisations could sharpen their fraud prevention efforts, according to the Association of Certified Fraud Examiners (ACFE), making sure that red flags raised by background checks on potential employees are acted upon, if these assessments are made at all.…

Paint sales in South Africa remain muted after a post-pandemic boom, with low economic growth, high inflation and political uncertainty in the lead up to this May’s competitive national elections impacting consumer demand, although there is hope for a post-poll boost in purchases.…

The increase in Egypt’s minimum wage by 50% this year has been met with a backlash from the private sector, including its clothing and textile sector, which already has had to deal with high inflation and a weak currency. Garment exporters, however, have absorbed the higher costs, riding the success of securing surging exports to the USA and Europe during 2024.…

Türkiye raised its minimum wage by 49% from January 1 (2024) in a bid to tame the impact of the country’s punishing inflation rates, impacting the textile and garment industry’s global competitiveness. However, but the sector is hopeful that investment in automation, adopting eco-friendly schemes and recycled textiles will drive business.…

The disruption to shipping through the Red Sea by Yemen’s Houthi militants is having a mixed impact on the Egyptian garment exporting industry – a key European near-sourcing hub. On the one hand shipping rates have increased, and the import of raw materials from east Asia has been impacted; while on the other hand, there has been an uptick in orders from European clients to take advantage of Egypt’s proximity to Europe, without running the gantlet of Houthi attacks.…

Textile production in the Gaza Strip has completely stopped, while factories have been damaged by Israeli bombardment over the past two weeks. Following the October 7 attack on Israel by Hamas-led militants, and the Israeli government’s subsequent declaration of war on Hamas, the outlook is bleak for the Gaza Strip’s textile industry.…

Chinese textile and clothing manufacturers are increasingly relying on Egyptian cotton, over the past two seasons becoming Egypt’s second largest buyer of cotton, driven by the US ban on Xinjiang cotton, competitive pricing, and strong demand for luxury fibres.

“China has always been a player in Egyptian cotton, but they were never on top of the list.…

Egypt’s buoyant dairy market is riding on the back of the country’s high population growth, but inflation and the depreciation of the currency is keeping this growth in sales in check and may depress earlier positive forecasts. The Egyptian dairy market’s value was forecast to be USD5.06 billion in 2023, with annual growth of 4.37%, according to figures from Germany-based statistical service Statista (1) released in Marh (2023).…