Business news wrap-up



Mon, 14 Aug 2017 - 04:07 GMT


Mon, 14 Aug 2017 - 04:07 GMT

Business - Wikipedia

Business - Wikipedia

$46M for irrigation, land reclamation projects in Ismailia

Sarabium siphon project is set to irrigate more than 50,000 feddans in the east of Suez Canal and North Sinai at a capacity of 3 million cubic meters per day.

Saudi Arabia favors New York for Aramco listing despite risks

Saudi Arabia favors New York for the main foreign listing of state oil giant Aramco, even though some financial and legal advisers have recommended London.

Arab bloc won't discriminate against U.S. firms in Qatar rift

Four Arab states imposing sanctions on Qatar have told the United States that U.S. companies doing business with them would not be punished for also

Mamish, Nasr discuss developments of Suez Canal economic zone

Mohab Mamish discussed with Sahar Nasr and Ismailia Governor Yassin Taher the latest developments of the Suez Canal economic zone.

Gold rally is fueled by Trump's tweets, but that's not enough: Russell

Gold's rally in recent weeks may be its first boosted by Twitter.

Trade exchange between Egypt, China hit $5B in H1 of 2017

The volume of trade exchange between Egypt and China recorded $5.178 billion from January to June 2017.

Oil prices dip on weak Chinese refining activity

Oil prices dipped on Monday as a slowdown in Chinese refining activity growth cast doubts over its crude demand outlook.

Implementation of Asmarat housing project to start

Ministers agree on starting the implementation of the investment and service plan in Asmarat housing project in Cairo's suburb of Mokattam.

U.S. dollar exchange rate stable Monday

The exchange rate of the CBE for the U.S. dollar is LE 17.733 for buying and LE 17.833 for selling.

Volume of issued banknote up LE 8B by end of April: CBE

Egypt’s central bank has printed 100 million of the LE 1 notes in January and 100 million of the LE 0.5 notes.

Beltone Financial to launch $1B fixed income fund

Egyptian financial services group Beltone Financial will launch a $1 billion investment fund in fixed income instruments in September.

DAMAC Properties' profits fall for second consecutive quarter

Dubai's DAMAC Properties, the owner and operator of the only Trump-branded golf club in the Middle East.

EGX dips, benchmark declines 1.09% on local, foreign sales

Market capitalization lost LE 5.32 billion ($300 million) totaling LE 701.48 billion, down from 706.8 billion registered Sunday.



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