U.S. Dollar Bills by Reuters-Rick Wilking U.S. Dollar Bills by Reuters-Rick Wilking

Business news wrap-up

Mon, Nov. 6, 2017

EGX shares continue to dip on local and foreign sales



The Egyptian Exchange (EGX) continues marking declines for the second day in row as all indices closed in red at the end of the trading session.

LSE has made strong case for Aramco listing: UK PM's spokesman



The London Stock Exchange has made a “very strong case” for oil company Saudi Aramco to lists its shares in Britain.

Banque Misr provides LE 4.4B loans to SMEs



Micro-small projects received LE 1.3 billion in funds from Banque Misr given to 58,634 clients until the end of June.

Delegation to UK is key to show current conditions in Egypt: Kabil



BEBA is organizing a business delegation to the UK from November 8 to 11, with the participation of 40 companies in different fields.

Dollar exchange rate stabile at Egypt's banks



The US dollar exchange rate was relatively stable during morning transactions at major banks on Monday.

EGF Hermes launches its London annual conference



A number of 290 investors working in 10 industries spanning 20 countries, as well as fund managers gathered to exchange market insights.

Nasr confers with UNDP director on small enterprises, youth projects



Minister of Investment and International Cooperation Sahar Nasr conferred on Monday with Director of the United Nations Development Programme (UNDP) in Egypt Randa Abu el Hassan on the fringe of the World Youth Forum, currently in session in Sharm el Sheikh.

U.S. Commerce chief Ross kept holdings in Russian-tied firm



U.S. Commerce Secretary Wilbur Ross has kept investments in a shipping firm with significant business ties to Russian President Vladimir Putin's inner circle.

Emaar Misr records LE 1.46B in net profit in 9 months



Total revenues in nine months recorded LE 2.6 billion, up from LE 2.5 billion in the same period in 2016.

Uber wants to expand services in Egypt



Waked said Uber’s desire comes after it successfully opened its first Centre of Excellence (CoE) in the MENA region in October.

Saudi princes accused of bribery, embezzlement, money laundering: official



Bribery, embezzlement, money laundering and abuse of power are among the accusations leveled against dozens of Saudi princes.

Al-Tayyar: work continues despite board member reportedly detained



Saudi Arabia’s Al Tayyar Travel said on Monday that its business was continuing despite media reports that one of its non-executive board members had been detained.

Saudi to stay well-supported by oil, banks



Strong oil prices and buying interest in banking shares look set to support the Saudi Arabian stock market on Monday.
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