Business New Wrap- Up
Thu, May. 31, 2018
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.
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.
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 grew by 21.36 percent year-on-year in April, central bank data showed on Thursday.
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 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.