{"id":618318,"date":"2024-04-07T00:00:00","date_gmt":"2024-04-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/07\/misrayon-polyester-fiber-resumes-exports-plus-news-from-el-maco-and-moneyhash\/"},"modified":"2024-04-07T00:00:00","modified_gmt":"2024-04-07T00:00:00","slug":"misrayon-polyester-fiber-resumes-exports-plus-news-from-el-maco-and-moneyhash","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/07\/misrayon-polyester-fiber-resumes-exports-plus-news-from-el-maco-and-moneyhash\/","title":{"rendered":"Misrayon & Polyester Fiber resumes exports. PLUS: News from El Maco and MoneyHash"},"content":{"rendered":"

MANUFACTURING-<\/p>\n

#1- Misrayon & Polyester Fiber Company exports for the first time in over a decade: <\/strong>The recently revived state-owned textile manufacturer Misrayon & Polyester Fiber Company has shipped five containers of artificial silk to Turkey \u2014 its first export in 12 years \u2014 the Public Enterprise Ministry said in a statement<\/a> pointing to government efforts to localize industry and boost exports.<\/p>\n

What\u2019s next: <\/strong>Another 14 containers are heading to Turkey and Europe this month and the company plans to up its export volumes by 150% the following month. By next month, Misrayon is aiming to be making a monthly USD 1.3 mn from exports and EGP 30 mn from domestic sales. <\/p>\n

#2- El Maco goes green: <\/strong>State-owned manufacturer El Maco will invest some EGP 200 mn to manufacture smart meters and electrical transformers using solar energy, Al Borsa<\/a> reports, citing company head Bassim Youssef. The firm will begin implementing the project in 2H 2024, Youssef said, adding that the company has plans to expand its exports to some African countries.<\/p>\n

\n

DIPLOMACY- <\/p>\n

Shoukry, Japanese FM <\/strong>discuss<\/strong> Gaza: <\/strong>Foreign Minister Sameh Shoukry discussed the latest on Gaza and efforts to secure a ceasefire during a phone call with his Japanese counterpart Yoko Kamikawa, according to a statement<\/a>. Japan\u2019s FM said that her country will resume its funding contributions to UNRWA. <\/p>\n

STARTUPS- <\/p>\n

MoneyHash wants to step foot in KSA: <\/strong>Local fintech startup MoneyHash is looking to expand into the Saudi market, co-founder Nader Abdelrazik told Arab News<\/a>. The startup already has customers in KSA and plans to deploy some of the USD 4.5 mn it raised earlier this year<\/a> to \u201cbuild a solution hub in Saudi and have a dedicated team for the market,\u201d he said. <\/p>\n

MoneyHash?<\/strong> Founded by Egyptians Abdelrazik and Mustafa Eid and American Anisha Sekar in 2020, the US-based company\u2019s unified platform allows companies to offer payment and fintech services at checkout as well as collect data and track analytics through a single dashboard. <\/p>\n","protected":false},"excerpt":{"rendered":"

The company has shipped five containers of artificial silk to Turkey<\/p>\n","protected":false},"author":1,"featured_media":618319,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,168,72,183,131,301,123,2080],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-618318","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-diplomacy","tag-enterpriseam","tag-fintech","tag-manufacturing","tag-sameh-shoukry","tag-startups","tag-textiles","wpautop","entry"],"acf":{"mongo_id":"c5e5e0b8-2290-4a39-b397-b57ac9b7acd8","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/683.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s Misrayon & Polyester Fiber resumes exports after 12 years","related_issue":[618303],"teaser":"The company has shipped five containers of artificial silk to Turkey","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.4039f7fc-e738-4905-87b2-4039da5f065c.mp3"},"yoast_head":"\nMisrayon & Polyester Fiber resumes exports. 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Holding Company is considering expanding its portfolio to include financial leasing, factoring, and microfinance by acquiring existing entities or establishing new ones, said Chairman Basel El Hini.Other things we\u2019re keeping an eye on this morning: UK-based outfit Fosroc will manufacture and distribute construction chemicals in Egypt after setting\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":595173,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/18\/farm-frites-opens-usd-40-mn-factory-aims-to-increase-exports-to-65\/","url_meta":{"origin":618318,"position":1},"title":"Farm Frites opens USD 40 mn factory, aims to increase exports to 65%","author":"enterpriseam admin","date":"18 September 2019","format":false,"excerpt":"INVESTMENT WATCH- Dutch food manufacturer Farm Frites has launched a new, USD 40 mn production line for producing potato chips in 10 Ramadan City, the Investment Ministry said in a statement. \u201cWe aim to export 65% of the products manufactured here, and raise our export markets to 20 countries,\u201d Managing\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/9\/1808.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555463,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/15\/lng-exports-up-edita-eyes-new-markets\/","url_meta":{"origin":618318,"position":2},"title":"LNG exports up, Edita eyes new markets","author":"enterpriseam admin","date":"15 November 2021","format":false,"excerpt":"Egypt natgas exports rebound: Egypt exported 1 mn tonnes of liquefied natural gas (LNG) in 3Q2021, up from just 100k tonnes in the same period last year, according to the Organization of Arab Petroleum Exporting Countries\u2019 (OAPEC) latest report (pdf). Gas exports have been given a boost by the return\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":559611,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/27\/a-nice-present-for-valentines-day\/","url_meta":{"origin":618318,"position":3},"title":"A nice present for Valentine\u2019s Day","author":"enterpriseam admin","date":"27 January 2021","format":false,"excerpt":"The first test shipment out of Damietta\u2019s LNG plant will be sent out on 14 February as Italy\u2019s Eni takes over the plant\u2019s operations from Spain\u2019s Naturgy under the terms of an agreement between the two companies and the Egyptian government, S&P Global reports. Under the new agreement, Eni will\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":646725,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/21\/lg-to-operate-new-washers-line-within-a-month-targets-usd-250-mn-in-exports\/","url_meta":{"origin":618318,"position":4},"title":"LG to operate new washers line within a month, targets USD 250 mn in exports","author":"enterpriseam admin","date":"21 June 2017","format":false,"excerpt":"LG is begin operations at its new washers production line at its Sixth of October plant within a month, LG Egypt Managing Director Don Kwak tells Al Mal. The company targets manufacturing 400k washers every year. 75% of the plant\u2019s production is set to be exported, Kwack says. Investments at\u2026","rel":"","context":"In "Manufacturing"","block_context":{"text":"Manufacturing","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/manufacturing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":553445,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/05\/egypts-lng-exports-are-maxed-out\/","url_meta":{"origin":618318,"position":5},"title":"Egypt\u2019s LNG exports are maxed out","author":"enterpriseam admin","date":"5 December 2021","format":false,"excerpt":"Egypt\u2019s LNG terminals are running at full capacity as the country tries to capitalize on the surge in natural gas prices overseas, Oil Minister Tarek El Molla told Reuters on Thursday. The country is currently exporting the equivalent of around 1.6 bn cubic feet per day (bcf\/d), helped by the\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/219.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/618318","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=618318"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/618318\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/618303"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/618319"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=618318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=618318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=618318"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=618318"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=618318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}