Business Economics

Egypt and Russia will sign an intergovernmental agreement on setting up an industrial zone in Egypt’s East Port Said region in the Suez Canal Economic Zone.

A wrap-up of the most prominent business news of the day.

Exports of granite and marble rose 7 percent, reaching $47 million in the first three months of the current year, compared to $50 million during Q1 of 2017.

Production of the field is scheduled to reach 1.2 billion cubic feet per day in May and two billion cubic feet per day by the end of 2018, amassing 2.7 billion cubic feet per day.

As per standalone profit, the results also turned into profitability in Q1 of 2018 by LE 21.26.

The meeting came as part of talks that kicked off in February in London to follow up underway efforts and steps to turn Egypt into a regional energy hub.

The benchmark EGX30 rose 1.33 percent, or 241.33 points, to close at 18,363.29 points.

Foreign investors were net buyers during the first quarter of 2018 at LE 8.7 billion, compared to LE 3.1 billion in the fourth quarter of 2017.