Business News Wrap-up
Sat, Jan. 20, 2018
Ethiopian Prime Minister Hailemariam Desalegn has agreed to support the request of Ahmed el-Sewedy, head of the Egyptian-Ethiopian Business Council, to set up an Egyptian industrial zone in Ethiopia, head of the SME association AISME Alaa el-Sakty said Saturday.
Government’s investments in northern Upper Egypt reached LE 6.92 billion during the current fiscal year 2017/18, representing 3.6 percent of total investments.
Minya governorate is the top recipient of these investments, with 48.9 percent, followed by Beni Seuf and Fayoum.
The Supply Ministry has denied any increase in the price of rice at government outlets following claims by some traders that rice prices increased by LE 200 per ton, the cabinet’s Information and Decision Support Center (IDSC) said Saturday.
The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, is scheduled to issue LE 14 billion in treasury bills Sunday.
Minister of Agriculture and Land Reclamation Abdel Moneim el-Banna said on Saturday that Egypt’s political leadership and government are keen to encourage investment, particularly in the agricultural field.
Egypt is definitely going in the right direction and its recovery is noticeable, Christian Richter, a contributor to Euromoney's risk survey and a professor in economics at the German University in Cairo, said Friday.