Business news wrap-up

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Sun, 19 Nov 2017 - 07:15 GMT

BY

Sun, 19 Nov 2017 - 07:15 GMT

Economy - Wikimedia Commons

Economy - Wikimedia Commons


CAIRO – 19 November 2017: EGPC prepares to repay $500-750M to foreign firms by end of 2017

The Egyptian General Petroleum Company (EGPC) prepares to settle part of the debt due by repaying between $500 million and $750 million to foreign oil and gas companies by the end of 2017.

ME’s infrastructure has high investment potential: World Bank VP



Mohieldin said that it is important to address demographic shifts to achieve economic development.

CBE approves raising mobile cash transfer limit in Egypt



The limit is now LE 50,000 ($2,834) per month and LE 10,000 per daily transaction.

Average yields rise on Egypt's 3- and 9-month T-bills



Yields on the 91-day bills rose to 18.625 percent, while yields on the 266-day bills rose to 18.015 percent.

KFAED funds 17.5M KWD to North Sinai development



The first 12.5-million-KWD agreement will finance connecting water networks in Al-Arish City.

Egypt's debt to Paris Club is $3.7B: CBE



Egypt will repay $700 million to Paris Club in January 2018, which is part of a bi-annual installment owed to the group.

World Bank is willing to support Egypt's plans: Director



Saeed has given presentations on a number of issues, such as developing the government's administrative apparatus.

Nasr, Romanian Minister review boosting cooperation



Investment Minister Sahar Nasr had talks on Sunday with Romanian Minister for Business Environment, Commerce and Entrepreneurship Ilan Laufer to boost cooperation between the two countries.


Dollar exchange rate slightly up at Egypt's major banks



The U.S. dollar exchange rate was relatively stable during morning transactions at major banks on Sunday.

CBE issues LE 13.75 B in T-bills Sunday



The T-bills are to be offered in two installments, with the first valued at LE 6.75 billion and the second worth LE 7 billion.

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