Business News Wrap-up
Wed, Dec. 27, 2017
Minister of Investment Sahar Nasr signed an agreement with the European Bank for Reconstruction and Development (EBRD) to provide a $200 million loan to the Egyptian Natural Gas Holding Company (EGAS).
Egypt's foreign trade volume recorded $70.8 billion since the flotation of the Egyptian pound in November 2016, the Central Bank of Egypt announced Wednesday.
The Egyptian Exchange (EGX) ended its transactions Wednesday in red, with the three main indexes down.
The government has a five-year plan to develop spinning and weaving companies in northern Egypt, Head of the Cotton and Textile Industries Holding Company Ahmed Mostafa said Wednesday.
Orascom Hotels and Development’s (OHD) shares will trade under the new name of Orascom Development Egypt, which was approved by the EGX listing committee on Tuesday, the Egyptian Exchange said in a statement.