Business news wrap-up
Sat, Dec. 9, 2017
Pilot production from Zohr gas field has kicked off Saturday, with a production capacity of 300-500 million cubic feet a day, an informed source at the Egyptian Natural Gas Holding Company (EGAS) told Egypt Today. Production has started two weeks earlier than the date specified by the Ministry of Petroleum, which announced that production will start by the end of December, the source said.
Three Egyptian companies will be visiting Sudan next week in search of investment opportunities in the fields of construction and pharmaceutical Industries, Islam al-Sadeq of Sudan’s Ministry of Investment said Saturday. He said that the visit aims to study the Sudanese market, adding that Sudan offers many investment opportunities in agriculture, particularly to Egyptian businessmen.
Bilateral Trade between Egypt and Spain has increased 16.9 percent in the period between January and August of 2017, reaching €1.6 billion ($1.88 billion), compared to €1.37 billion during same period of 2016, Trade Minister Tarek Kabil said Saturday.
Banque Misr signed a new credit agreement with The European Investment Bank (EIB) at a value of €250 million ($294.3 million) to finance micro, small and medium sized enterprises projects.
The African Export and Import Bank (Afreximbank) signed a Memorandum of Understanding (MoU) with Attijariwafa Bank to boost trade exchange between Egypt and Africa.
An Egyptian official delegation attended the Brazilian –Egyptian business Forum, which has taken place in Sao Paulo, Brazil, a statement from the Trade Ministry said Saturday.
The delegation included Head of the Egyptian Commercial Service Ahmed Antar, Executive Chief of Export Development Authority (EDA) Sherine el-Shorbagy along with a number of Egyptian businessmen.
Under the patronage of the Ministry of Trade and Industry, the EGYWOODEX expo International Trade Fair for Furniture Production Technologies, Woodworking Machinery, Tools, Fittings, Accessories, Raw Materials and Products, will provide attendees an ideal networking platform in an international business environment.
Russian President Vladimir Putin will witness the signing of an agreement to establish an Egyptian-Russian industrial city in the Suez Canal area during his upcoming visit to Egypt, said Chairman of the Egyptian-European Business Council Mohamed Abul Enein on Saturday.