Business news wrap-up

Gov't denies rise in power tariff after new firm reads meters

The Ministry of Electricity has recruited the Shuaa-Arabian Scientific Information Company to provide meter reading services.

Egypt-Mercosur Free Trade Agreement meeting kicks off in Argentina

A delegation from Egypt's Ministry of Industry and Trade participated Thursday in the first joint committee meeting of Egypt-Mercosur Free Trade Agreement.

Egyptian-Japanese business council flies to Tokyo for promotion

Chairman of the Egyptian-Japanese Business Council Ibrahim el Araby said Thursday that the council is due to organize a promotional mission in Japan in the coming week, led by Minister of Investment and International Cooperation Sahar Nasr.

EFG Hermes launches installment sale services in Egypt

The company allocated an initial LE 250 million in investments to its new venture.

EGX concludes all-green week, benchmark still on record

Benchmark index EGX30 went up 0.19 percent to stand at 14,679 points.

Egypt's dollar exchange rate ups despite global decline

The highest rate was recorded at the Abu Dhabi Islamic Bank at LE 17.78 for buying and LE 17.88 for selling.

Investment minister heads to Paris OECD-EU meeting

The conference will gather ministers from countries that are partners with the European Union.

Average yields fall on Egypt's 6-month, one-year T-bills

The yield on the 182-day bill fell to 18.923 percent and the yield on the 357-day bill fell to 18.059 percent.

Japan's education initiative supports Egyptians calibers

Under this program, 65 Egyptians were dispatched to Japan so far.

Ezz Steel's losses deepen in 9 months

The company's liquidity stood at LE 5.02 billion, while net debts reached LE 18.9 billion.

OFID approves $454M for developing countries

The OPEC Fund for International Development (OFID) has approved more than $454 million in funding for the new development of developing countries.