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The National Bank of Egypt (NBE) signed a contract Thursday to manage the cash receipts in foreign currency from the giant offshore Zohr gas field in the Mediterranean through accounts in the bank.
The Board of Directors of the African Development Bank (AFDB) has approved on Thursday the third and last tranche, worth 500 million, of a $1.5 billion loan package from the bank to finance Egypt’s Economic Governance and Energy Support Program.
Chairman of the Suez Canal Authority (SCA) Mohab Mamish received on Thursday a delegation from German automaker Volkswagen to discuss investment opportunities in the Suez Canal Economic Zone (SCZone) and brief it on the benefits and incentives the zone offers to investors.
The Egyptian Stock Exchange (EGX) ended Thursday in green for the second consecutive session, pushed by foreign investors buying. The benchmark index, EGX30 gained 212.46 points or 1.4 percent, to close at 15,411 points.
“Ministry of Finance is expected to start within days promoting the launch of $4 billion eurobonds which are scheduled to be issued abroad by mid-February,” governmental sources told Egypt Today.
The new chairman of the Holding Company for Chemical Industries, Emad el- Din Mustafa, confirmed that he set in mind improving and supporting the National Company for Cement, according to his first press statements.
Saudi Aramco’s Chief Executive Amin Nasser said on Thursday that the initial public offering (IPO) of the state oil giant is still planned for the second half of 2018, but the government has not yet made a decision on the listing venue.
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