Euro, Hong Kong dollar, U.S. dollar, Japanese yen, pound and Chinese 100 yuan banknotes are seen in this picture illustration, January 21, 2016 - REUTERS/Jason Lee/Illustration/File Photo Euro, Hong Kong dollar, U.S. dollar, Japanese yen, pound and Chinese 100 yuan banknotes are seen in this picture illustration, January 21, 2016 - REUTERS/Jason Lee/Illustration/File Photo

Business News Wrap-up

Sat, Mar. 3, 2018

Egypt’s exports to Russia increase 35% in 2017: Min.



Egypt’s exports to Russia increased by 35 percent in 2017, reaching $504.5 million, compared to $374.1 million in 2016, Trade Minister Tarek Kabil said Saturday.

Sisi confirms keenness to boost Huawei’s investment in Egypt



President Abdel-Fatah al-Sisi said that Egypt eyes more cooperation with the Chinese telecommunications company Huawei and seeks to increase the company’s activities in the country over the coming period.

‘Aman’ certificates to be launched Sunday



Four Egyptian banks will issue Sunday the Aman Certificate (Security Certificate), a new life insurance plan for casual and temporary workers. The certificates can be purchased without any fees or opening an account.

Dollar exchange rate to continue declining against the pound: Sources



The exchange rate of the U.S dollar could reach between LE 17.25-17.5 for buying, down from its current level of LE 17.59, in the coming months, banking sources said Saturday.

An Industrial Leap Underway



Striving to become one of the world’s 30 strongest economies by 2030, Egypt's Ministry of Trade and Industry adopted a 2020 industrial development strategy that aims to increase the contribution of the sector in the gross domestic product (GDP) from 17% to 21%.

Investments in Upper Egypt’s Sohag reach LE 10B in 2 years



Investments in the Upper Egyptian governorate of Sohag surpassed LE 10 billion in the last two years, in addition to investments in the small- and medium-sized enterprises (SMEs) sector, Sohag Investors Association announced Saturday.

Petroleum Min. hails Egyptian firms developing gas activities in Jordan



Petroleum and Mineral Resources Minister Tarek el-Molla lauded the contribution of Egyptian oil companies in developing various gas activities in Jordanian market.
 
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