Business Economics

This comes within the framework of the presidential directives on enhancing cooperation with Germany, he noted.

Talaat said in a statement that an agreement was reached with his Russian counterpart to offer facilities and logistic support to encourage Russian companies to invest in Egypt.

The ministry is seeking the help of international export agencies to promote Egyptian exports abroad especially the Small and Medium-Scale Enterprises (SMEs).

The benchmark EGX30 hiked 0.54 percent, or 78.87 points, to close at 14,724.4 points.

Molla stressed his ministry’s keenness on developing the petrochemical industry and increasing its production capacity.

Nasr noted that the solar energy project in the Upper Egyptian city reflects the comprehensive strategic partnership between the two sides.

Egypt targets to reduce the budget deficit to 7.2 percent during 2019/2020, and to raise the growth rate to 6.1 percent, Minister of Finance Mohamed Ma’it said.

European stocks were expected to open lower, with futures tracking Britain’s FTSE, France’s CAC and Germany’s DAX indexes down between 0.5 percent to 0.7 percent in early trade.