Business news wrap-up
Wed, Dec. 20, 2017
The International Monetary Fund’s (IMF) executive board has approved the third $2 billion tranche of Egypt’s $12 billion Extended Fund Facility.
Egypt has officially started operations of the Mediterranean’s largest gas field, Zohr, Saturday.
Benchmark index EGX30 went up 0.03 percent to stand at 14,682 points.
The inflows of net FDIs stood at $1.6 billion in the first quarter of the current fiscal year.
El-Molla said Egypt has infrastructure, which would enable the country to be a hub for oil industry in the region.
Oil prices inched up on Wednesday, supported by expectations of a fall in U.S. crude inventories and the ongoing outage of the North Sea Forties pipeline system.
Minister of Trade and Industry Tarek Kabil on Wednesday said Canada has allowed access of fresh Egyptian grapes into its markets.
The Micro, Small and Medium Enterprises Development Agency (MSMEDA) financed LE 76.5 million to approximately 4,000 projects in Marsa Matrouh governorate.