Business news wrap-up
Wed, Aug. 16, 2017
Foreign liabilities of commercial banks declined, fueling concerns about a potential struggle in external debts, Capital Economics said.
Oil prices edged up on Wednesday, lifted by declining U.S. crude inventories, although markets were still restrained by general oversupply.
Britain's accounting watchdog has fined audit firm PricewaterhouseCoopers LLP 5.1 million pounds.
It recorded LE 17.71 for buying and LE 17.81 for selling at the central bank.
Saudi Arabia plans to launch the second issue of its local currency sukuk program during the week beginning on August 20.
Well-reliable banking sources expected on Wednesday that Presidents of National Bank of Egypt and Banque Misr Hisham Okasha and Mohamed el Atrebi.
Minister of Investment met with representatives of the World Bank and AFDB over signing third tranches and reviewing the latest developments of
Current interest rates will remain stable to benefit from them until inflation rates return to normal levels in September, senior economist at HC Securities noted.
The government is now working to expand the subsidies system to ensure it reaches the right beneficiaries, as well as widening the social safety nets, the minister said.
Head of the Suez Canal Development Zone, Mohab Mamish, said that the tariffs cut will be applied on the ports of the Suez Canal Development Zone as a first phase.
The three firms include BB Energy Trading and Qalaa Holding’s TAQA Arabia.
Pharos believe that a credit rating upgrade will support further foreign inflows into the equity and the fixed income market.
Market capitalization gained LE 2.1 billion ($1.2 billion) totaling LE 699 billion, down from LE 696.9 billion registered Tuesday.