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Business news wrap-up

Sat, Dec. 2, 2017

Egypt has never failed to pay off its debts: Finance Min.


Egypt has never failed in repaying its foreign debts on time, Finance Minister Amr el-Garhy told Egypt Today Saturday. He confirmed on the country’s ability to repay between $14-15 billion during current fiscal year 2017-2018.

New law regulating gas market will attract investment: Molla


Petroleum Minister Tarek el-Molla said that a new law to regulate the activities of the gas market will help attract private sector to invest in storing and selling natural gas directly to consumers.

Egyptian companies negotiate $16M deals with Iraqi counterparts


Egyptian companies have negotiated deals worth $16 million with their Iraqi counterparts during Baghdad International Fair, Minister of Trade and Industry Tarek Kabil said Saturday in a statement. The new business deals involved various sectors such as ceramics, electrical appliances, home furnishings, furniture, food products, garments, hand products and leather products.

Africa 2017 Forum to kick off in Sharm El-Sheikh Thursday


Under the auspices of President Abdel Fatah al-Sisi, the Africa 2017 Forum: “Business for Africa, Egypt and the World” conference will be held from 7-9 December 2017 in the Red Sea resort of Sharm El-Sheikh. The conference will be attended by heads of states, governments and ministries from various African countries, and aims at promoting investments for inclusive growth.

New tech app to allow youth participate in Egypt Strategy 2030


The Ministry of Planning will launch this month a technology application that will allow youth to revise and participate in the country’s sustainable development strategy Egypt Vision 2030. This comes in light of President Abdel-Fattah al-Sisi’s directions, during the Youth Conference in Alexandria, to offer youth the opportunity to participate in their future’s strategy.

Egypt’s industrial growth jumps 30% in 2017


The investment’s growth rate in the industrial sector hikes up by 30 percent in 2017, the Head of Investment Committee of the Federation of Egyptian Industries (FEI), Mahmoud Soliman, told Egypt Today on Saturday.

Global tea prices increase by 16% in September, October


Prices of tea surged globally during September and October of 2017, the Federation of Egyptian Industries’ Food Industries Chamber said Saturday. According to a report that includes international prices of food commodities, global tea prices registered a hike to reach $3.25 in October and $3.21 in September.
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