Egypt’s foreign reserves hiked to $36.703 billion at the end of October from $36.535 billion at the end of September, the Central Bank of Egypt (CBE) announced Sunday.
Saudi investments in Egypt are stable despite an announcement by Saudi Arabia Saturday night the arrest of some Saudi ministers and princes, of whom are businessmen investing in Egypt, an official at the General Authority for Investment and Free Zones (GAFI) said Sunday.
Egyptian Exchange (EGX) closed Sunday in red as all indices recorded decreases at the end of the trading session. Benchmark EGX30 inched down 0.95 percent to stand at 14,183 points.
inister of Finance Amr el-Garhy approved LE 3.9 billion ($221 million) in additional allocations from the state budget to state entities including the Petroleum Ministry in October, a Sunday statement from the ministry reported.
Minister of Investment Sahar Nasr discussed Sunday with Emirati businessman Abdulla Saeed Al-Thani, Chairman of Al-Thani Investments, boosting his investments in Egypt.
In a meeting at the ministry, Nasr and Al-Thani reviewed possibilities of expanding the company's business in Egypt, which focuses on gold mining and exploration, as well as removing obstacles facing the firm.
Outstanding receivables owed to the Ministry of Petroleum from government entities and authorities reached LE 100 billion ($5.67 billion), an anonymous source in the ministry said Sunday.
The US dollar exchange rate was relatively stable during morning transactions at major banks on Sunday.
The dollar exchange rate stood at LE17.60 for buying and LE17.70 for selling at the National Bank of Egypt, Banque Misr and Banque Du Caire.
Comments
Leave a Comment