Business news wrap-up

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Wed, 26 Jul 2017 - 03:31 GMT

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Wed, 26 Jul 2017 - 03:31 GMT

Business - Public Domain Pictures

Business - Public Domain Pictures

Bank clients to increase up to 10M in 5 yrs: official



The target comes as part of the government’s plan to pay the salaries of 7 million public sector employees and 7 million pensioners through the banking.

$8B investments in first phase of New Capital



These figures were announced by Minister of Housing, Utilities, and Urban Development Mostafa Madbouly on Wednesday.

95-octane consumption up 400%: Misr Petroleum



Chairman of Misr Petroleum said 92-octane consumption has witnessed major reductions.

Fuel-_Reuters_(1)
Fuel - Reuters

4 stocks excluded, 4 firms joined EGX30 in periodical review



The benchmark index EGX30 saw the exclusion of four firms and the addition of another four in the periodical review.

CI Ratings shoots negative outlook to 4 Qatari banks



The four banks are the Ahli Bank of Qatar, The Commercial Bank, Doha Bank and Qatar International Islamic Bank (QIIB)

Egyptian, Jordanian ministers mull establishing union of Egyptian



Investment Minister Sahar Nasr, currently visiting Amman, reviewed Wednesday with Jordanian Industry.

Minister_of_Investment_Sahar_Nasr_-_File_photo_(2)
Minister of Investment Sahar Nasr - File photo

Telecommunication min. to establish Borg el Arab tech park



Telecommunications and IT Minister Yasser el Qadi will inspect the progress realized so far in establishing a tech park in Alexandria's Borg el Arab.

Furniture exports down 6% in 6 months



The Furniture Exports Council attributed the declined to an increase in local consumption.

Furniture_-_Creative_Commons_via_Pixabay-Monoar_(3)
Furniture - Creative Commons via Pixabay-Monoar

Juhayna registers LE 2.8B sales in 6 months



Juhayna Food Industries' revenues leveled up 17 percent to LE 2.86 billion in the first six months of 2017.

Oriental Weavers achieves LE 4.9B sales in H1



Oriental Weavers' sales hiked 63 percent to LE 4.9 billion in the first half of 2017 from LE 3 billion in the year-ago period.

Oil bounce, results keep stocks on high



Oil's rise back above $50 a barrel helped prod stock markets higher on Wednesday and company results and economic data continued to soothe.

An_oil_pump_jack_pumps_oil_in_a_field_near_Calgary,_Alberta,_Canada_(4)
An oil pump jack pumps oil in a field near Calgary, Alberta, Canada

Dollar exchange rate stable at major banks



The exchange rate of the US dollar was stable at major banks on Wednesday.

Banks dealing EU sovereign debt may be dragged out of London



Banks at the heart of EU government borrowing could be forced to move some operations out of London.

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