Business News Wrap-up
Sat, Jan. 27, 2018
Minister of Petroleum Tarek el-Molla said Saturday that the importation of liquefied gas will be halted by June 2018, which will save Egypt $250 million a month.
The allocation of the last production units of the first phase of Al-Robeky city for leather tanneries will be completed next month, Trade Minister Tarek Kabil said Saturday.
The first phase contains 82 factories, with 322 production units, Kabil said, adding that some 70 small tanneries are being relocated from Magra El-Oyoun in old Cairo to the new city.
A British business delegation of 22 companies will visit Egypt from 10-13 February to enhance trade relations, member of the Egyptian-British Chamber of Commerce Ali Eissa said Saturday.
The Egyptian Banking Institute (EBI) launched on January 24 an initiative to discuss digital financial services (DFS) eco-systems locally and globally.
The initiative came in collaboration with the International Finance Corporation (IFC), a member of the World Bank Group, and banking sector representatives in Egypt.
Transport Minister Hisham Arafat praised Saturday cooperation with the International Maritime Organization (IOM) in the technical, technological, and training domains.
Newly-imposed U.S. sanctions against two Russian energy ministry officials are “unlawful” and Moscow will seek explanations from Washington, Russian Energy Minister Alexander Novak said on Saturday, according to local news agencies.