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Business New Wrap- Up

Thu, May. 31, 2018

Suez governor inks deal to establish logistic zone worth LE 2B

Assistant Minister of Supply for Investment and Head of the Internal Trade Development Authority, Ibrahim Ashmawy signed on Thursday a protocol of cooperation with Suez Governor Ahmed Mohamed Hamed on establishing logistic zones in accordance with the governorate’s needs.

We seek expanding electronics industries: Min.

Minister of Trade and Industry Tarek Kabil held a plenary meeting on Thursday with a delegation of electronics manufacturing giant Foxconn Group under its deputy CEO Wei-Shin Chang.

Pharaonic Petroleum's total gas production hit 600 mcf/d

The Pharaonic Petroleum Company (PhPC) on Thursday revealed that its total natural gas production hit 600 million cubic feet (mcf/d) per day, in addition to 11,000 barrels of condensate per day.

Egypt's M2 money supply up 21.36% in April

Egypt’s M2 money supply grew by 21.36 percent year-on-year in April, central bank data showed on Thursday.

EGX stays in red for 2nd session, market cap. loses LE 13.18B

The Egyptian Exchange (EGX) ended Thursday in red for the second consecutive session, and market capitalization lost LE 13.18 billion ($734.24 million) amid Egyptian and Arab selling.

The benchmark EGX30 declined 2.06 percent, or 345.71 points, to close at 16,414.53 points.

Yields of Aman certificates reach LE 1B

Yields of the Aman Certificate for temporary and seasonal workers have reached LE 1 billion since the issuance of the certificate on May 4, Chairman of Misr Insurance Holding Company Ahmed Abdel Aziz said.

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