Industry
Tubos Reunidos files for creditors' arrangement due to imminent insolvency
Reported by AI Image generated by AI
Tubos Reunidos filed for voluntary creditors' arrangement on Monday before an Álava court due to cash tensions worsened by the indefinite strike at its Amurrio plant. The CNMV immediately suspended trading of its shares. The company aims to protect the interests of creditors, workers, suppliers, and shareholders.
The luxury bridal sector continues to grapple with limited sizing options for customers.
Reported by AI
Industry Minister Khaled Hashem met a delegation from Türkiye’s Gürok Group to review plans for a new glass tableware factory in Egypt aimed at export markets.
Shortages have not yet appeared but price increases are mounting for French companies because of the Middle East conflict that began more than two months ago.
Reported by AI
Egypt's Minister of Industry Khaled Hashem held an extensive meeting with the Chamber of Pharmaceutical, Cosmetics and Medical Supplies Industries to discuss challenges and measures to strengthen performance and exports. The meeting was attended by the chamber's chairperson, board members, and Export Council representatives. Hashem reaffirmed the ministry's commitment to the sector as a strategic priority.
Egypt’s Minister of Industry Khaled Hashem met with Japan’s Ambassador to Egypt Iwai Fumio to review current Japanese investments and explore expansion opportunities. The meeting, attended by Assistant Minister for International Cooperation Ahmed Maghawry, underscored bilateral ties elevated to a strategic partnership in 2023. Discussions emphasized cooperation in industry, technology, and sustainable development.
Reported by AI
The Ifo Institute's employment barometer fell to 91.3 points in April, the lowest since December last year. Companies plan more layoffs than hires, especially in industry and trade. Ifo's Klaus Wohlrabe warns of ongoing pressure on the job market.
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