Industry

The Industrial Development Authority and the Federation of Egyptian Industries held a meeting on May 9 to review the progress of several state-backed financing programs for the industrial sector.

May 08, 2026 Reported by AI

Industrial equipment maker Festo plans to cut around 1300 jobs in Germany. Reasons include market changes, competition from Asia and geopolitical crises. The company aims to save 200 million euros per year worldwide.

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.

April 28, 2026 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.

Armored vehicle maker KNDS has presented the expansion of Boxer wheeled tank production at its main plant in Munich-Allach. It marks the first serial production since the end of the Cold War. CEO Florian Hohenwarter plans further capacity expansions for potential large Bundeswehr orders.

April 22, 2026 Reported by AI

Colgas and Ladrillera Santafé launched operations of a solar park in Soacha, Cundinamarca, with a $16 billion peso investment. The project generates 5.4 MWp and aims to cut the brick factory's energy costs by up to 30%, avoiding at least 1,400 tons of CO2 emissions annually.