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Business news wrap-up

Sat, Oct. 7, 2017

Finance Ministry allocates LE 129.6B for education sector



Egypt’s Finance Ministry has allocated some LE 129.6 billion for the education sector, of which LE 81 billion will go to the Education Ministry, and its affiliates, a statement from the Finance Ministry said Saturday. Some LE 12.1 billion will go to Al-Azhar education system, LE 25.5 billion for university and higher education as well as LE 11 billion to university-affiliated hospitals.

Cairo, Abu Dhabi sign three MoUs on dates industry in Egypt



Egypt and the UAE inked three memorandums of understanding in the fields of producing, manufacturing and storing dates in a number of Egyptian governorates.


Investor services center to be finalized soon: Minister



Minister of Investment and International Cooperation Sahar Nasr said on Saturday that her ministry will finish development works of the investor services center “within days”. She said that some windows will be designed for women and Egyptian expatriates.

GAFI head confers with Indonesian presidential adviser on boosting cooperation



Chairman of the Egyptian General Authority for Investment (GAFI) Mona Zobaa met Saturday with an Indonesian high-level delegation, chaired by the Asian country’s presidential adviser on boosting the bilateral cooperation.

OECD forum discusses women empowerment obstacles, solutions



Women need five main principles to achieve equality: self appreciation, freedom of choice, opportunity assessment, self-decision of destiny and social empowerment, Sweden’s ambassador to Algeria Marie-Claire Sward Capra said during the opening ceremony of a forum in Cairo Saturday.

Quotas will not achieve women economic empowerment: Minister



Minister of Investment and International Cooperation Sahar Nasr said that achieving gender equality requires changing the way of business management so as women would be treated based on merit, performance and results.

La Caixa foundation to move HQ from Catalonia to Mallorca



La Caixa Banking Foundation, which manages the holding company which controls Caixabank said on Saturday it will move its headquarters to Palma de Mallorca for as long as political upheaval in Catalonia continues.

U.S. Chamber warns against Trump's 'highly dangerous' NAFTA demands



The U.S. Chamber of Commerce warned on Friday that the Trump administration was making “highly dangerous demands” in the North American Free Trade Agreement modernization talks that could erode U.S. business support and torpedo the negotiations.

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