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Business news wrap-up

Wed, Sep. 6, 2017

Egypt's non-oil business activity contraction slows slightly: PMI



The Emirates NBD Egypt Purchasing Managers’ Index (PMI) for the non-oil private sector rose to 48.9 in August from 48.6 a month before


Gold steady as N. Korea tensions, Fed rate outlook support



Gold held steady on Wednesday as heightened geopolitical risks over North Korea and concerns about low inflation in the United States


U.S. dollar exchange rate stable at LE 17.6



It records LE 17.60 for buying and LE 17.70 for selling


HP Enterprise posts surprise revenue rise on networking demand



Hewlett Packard Enterprise Co reported a surprise rise in quarterly revenue, largely helped by higher sales of its networking equipment


China to spend over $1 trillion on planes over next 20 years - Boeing



Chinese airlines are likely to buy more than 7,000 planes worth $1.1 trillion (844.6 billion pounds) over the next 20 years


Egypt keen on expanding economic cooperation with China




Egyptian Trade and Industry Minister Tarek Qabil reiterated on Wednesday Egypt's keenness on expanding economic cooperation with China


Indian investments in Egypt to reach $6B by 2020



There are 50 Indian companies currently operating in Egypt with $3 billion in investment, Khaled Abu El Makarem said.

Elsewedy, Huawei cooperate in solar power projects



Both companies will cooperate to produce developed technologies that can be supplied to solar plants.

Egypt signs MoUs with Vietnam in industry, investment sectors



President Sisi reviewed Egypt’s sustainable development strategy, measures taken to improve the business climate and national projects under construction.

Egypt, EIB to ink €172M loan for wastewater treatment projects



The signing ceremony is due to take place during the bank’s conference in Egypt on September 13 entitled “Boosting investments in the Mediterranean Region.”

Egypt’s foreign reserves rise $100M in August



It records $36.1 billion in August, up from $36 billion in July

Egypt, China sign MoU to promote cooperation in legal services



The memo aims at forming an Egyptian-Chinese committee to settle trade conflicts in a bid to increase cooperation between both states in the coming period.

EGX ends in red, market capitalization loses LE 3B



Turnover stood at LE 765.89 million, while the market saw the trading of 370 million shares on Wednesday.
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