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Business News Wrap-up

Tue, Dec. 5, 2017

Reuters: Egypt to pay off last $1.2B tranche to Afreximbank

CBE will pay back on December 7 the last $1.2 billion tranche of a $3.2 loan to the African Export-Import Bank.

EGX ends negatively, market cap down LE 4.6B

Benchmark index EGX30 went down 0.76 percent to stand at 14,460 points.

Egypt starts $3-4B Eurobond procedures

Egypt issued $7 billion in Eurobond sales in January and May 2017.

Mamish: EBRD approves $300M loan for desalination plant

EBRD approved a credit facility for building a water desalination plant worth $300 million in Ain Sokhna.

Supply Min: Egypt to build logistics city in Gharbia

Egypt will build the first logistics city in Gharbia governorate on an area of 82 feddans.

Chemical exports hiked 39% in 2017

Egypt’s chemical exports recorded $3.58 billion from January through the end of October.

Egypt is keen on reaching an African free trade agreement

Tarek Kabil discussed institutional measures, non-custom restrictions and technical challenges in an effort to finalize an African free trade agreement.

Ford to launch 50 new vehicles in China by 2025

Ford Motor Co (F.N) will launch 50 new vehicles in China by 2025 including 15 electrified vehicles.

Oil prices fall ahead of U.S. crude stocks data

Oil prices fell on Tuesday ahead of U.S. crude inventories data, as the market weighed the impact of rising U.S. crude output versus last week’s.

Asian shares down as tech blues offset U.S. tax cut optimism

Asian shares dipped slightly on Tuesday as investors’ rotation out of technology shares took a toll on some of the region’s tech heavyweights.

Saudi private sector growth at 2-year high amid crackdown on graft - PMI

Saudi Arabia’s non-oil private sector grew at its fastest pace in two years in November, a survey showed on Tuesday.
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