Business news wrap-up



Tue, 25 Jul 2017 - 06:39 GMT


Tue, 25 Jul 2017 - 06:39 GMT

Business - Public Domain Pictures

Business - Public Domain Pictures

Egypt's trade balance deficit with Brazil down by 65% in Q1

Imports ship - Wikimedia Commons Rice

The deficit in the balance of trade between Egypt and Brazil decreased by 65 percent in the first quarter of 2017 to reach 220 million dollars

1500 state employees to get MBAs from ESLSCA by 2020

Egypt cooperates with ESLSCA Business School to grant 1,500 state employees foundation certificates in Masters of Business Administration (MBA) in a 4-year program.

Rice stock-out valid for 25 days, food oil 60 days: CAPMAS

Rice - File photo

Available quantity of rice in Egyptian market reaches 63.3 thousand tons reserve for 25 days, CAPMAS announced on Tuesday.

Vodafone Egypt posts LE 4.5B revenues in Q1 of 2017

Vodafone Egypt achieved LE 4.5 billion ($0.25 billion) revenues in the first quarter of 2017, with a 25 percent increase year-on-year.

$30B infrastructure investments targeted for SCZone in 5 yrs

Ministry of Investment targets attracting $30 billion infrastructure investments in the next five years for the Suez Canal Economic Zone.

Support, wages account for 85% of state budget: Minister

Minister of Finance Amr al-Garhy - File Photo

Interests, support and wages’ costs, amounting to 85 percent of budget, do not leave a space for spending on infrastructure, education and health.

Bank ABC assets stand at $29B in H1

Bank ABC - Wikimedia commons

Bank ABC total assets stood at $29.2 billion at the end of H1 of 2017, compared to $30.1 billion in the same period of the previous year.

Afreximbank studying investment opportunities at SCZone

The meeting between SCZone Chairman Mohab Mamish and President Abel Fattah al-Sisi - Press Photo

Mohab Mamish met with Benedict Oramah, the President of the African Export-Import Bank (Afreximbank) to discuss investment opportunities in the region.

World needs $94 trillion spent on infrastructure by 2040: report

Nearly a fifth of the $94 trillion in global infrastructure investment needed by 2040 risks being unfunded if current spending trends continue, the G20-backed Global Infrastructure Hub said on Tuesday.

Current deficit drops to $14B in FY17/18: HC Securities

Economy - Pixabay

HC Securities expected the current account deficit to decrease to $14.3 billion in the fiscal year of 2017/18 from $16.6 billion in the year-ago period.

Business sector revenues reach LE 80B: minister

The Business sector revenues reached LE 80 billion after the latest economic reform measures taken recently.

Financial aid reaches LE 18B: Social Solidarity Minster

Minister of Social Solidarity Ghada Wali - File photo

The social financial aid volume reached LE 18 billion ($1.003 billion), funded by the Ministry of Finance.

Dollar falls to 13-month lows as market looks to Fed

The dollar fell to a 13-month low on Tuesday against a trade-weighted basket of major currencies, extending recent declines as investors positioned for a Federal Reserve meeting starting later in the day.

Nasdaq to acquire UK market surveillance startup

Nasdaq Inc has agreed to acquire Sybenetix, a London-based startup that uses artificial intelligence to help compliance officers at asset management firms analyze the behavior of their traders.

Oil extends gains as Saudi pledges export curbs

An oil pump jack pumps oil in a field near Calgary, Alberta, Canada on July 21, 2014. Todd Korol/File Photo

Oil prices extended gains on Tuesday after Saudi Arabia pledged to curb exports from next month.



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