Business news wrap-up
Wed, Sep. 13, 2017
EIB will contribute to funding three other sanitation projects.
Egypt signed five agreements Wednesday with Germany’s Bavaria company to build five factories in East Port Said by 2018.
Egypt will extend $2.7 billion currency swap agreement with China.
The non-oil trade deficit fell to $7.3 billion in Q4 from $7.8 billion in the previous quarter, as the non-oil imports decreased to $11.1 billion from $11.6 billion in Q3.
Market capitalization added LE 1.5 billion ($85 million) to reach LE 713.9 billion, up from LE 712.4 billion registered Tuesday.
Suez Canal Authority head agreed with German conglomerate Siemens to build a training center inside the zone to train technical workers.
Housing Minister Mostafa Madbouly met with the board of directors of Marriott Hotels to overlook potential collaboration in investing in new El Alamein City.
The coke and petroleum products sector made the largest contribution to the Industrial sector, representing 16% of the total industrial production volume.
The growth of the telecommunication, construction and trade sectors contributed to the rise of the GDP.
Around 4 million square meter will be in the 10th of Ramadan City, while 2 million will be in Sadat City.
Petrobel’s crude oil production recorded 80,000 barrels per day.
Shares of Saudi Arabia’s largest food producer, Savola, may rise on Wednesday after it started selling some of its shares in peer Almarai.
Royal Dutch Shell (RDSa.L) is seeking to sell Iraq’s Majnoon oilfield and the oil ministry has started preparations to finalise its exit.