Business news wrap-up



Wed, 23 Aug 2017 - 05:00 GMT


Wed, 23 Aug 2017 - 05:00 GMT

Economy - Wikipedia Commons

Economy - Wikipedia Commons

Egypt to attract Vietnamese investments in SCZone

Egypt will establish the Egyptian-Vietnamese Business Council and revive works of the Egyptian-Vietnamese Joint Committee, which last gathered in 2008.

Cabinet ratifies law on financial leasing and factoring

The law decreases the fees of the financial leasing contracts by more than 70 percent with a maximum of LE 500 instead of LE 3,000.

EGX ends on mixed note, benchmark down 0.9%

Turnover gained LE 325.7 million to LE 730.4 million, up from LE 404.7 million on Tuesday, while market capitalization lost LE 2 billion, registering LE 691 billion.

Egypt vehicle exports exceed $216M in 5 months

Imports of special use vehicles, trucks, buses and tractors declined in the first five months of 2017.

Giza, Fayoum fields’ production start end of 2018

Germany’s DEA praised government’s support for North Alexandria project.

Continued deposit drop from banks adds pressure on Qatar

Qatar’s foreign deposits continued to fall in July as they dropped eight percent to record $43 billion, the Central Bank said.

Maritime, Land Transport firm units post LE 1.67B profit in FY16/17

Three companies affiliated with the Ministry of Public Business Sector posted profits and revenues surge in the fiscal year of 2016/2017.

Beltone Financial to list Egypt index tracker fund on Nasdaq Dubai

Beltone Financial plans to list its Egyptian index tracker fund on the Nasdaq Dubai exchange and aims to quadruple the fund's value within a year.

No official medicine price hikes announced yet: FEI

There is no official decision regarding any amendments for medicine prices which were repriced in January, the head of the Chamber of Pharmaceuticals of the Federation of Egyptian Industries (FEI) said on Wednesday.

ESCWA eyes cooperation with Egypt’s petroleum sector

Abdel Hakim reviewed methods of mutual cooperation between ESCWA and the oil sector in Egypt in the upcoming months.

Decline of foreign deposits ‘pressure’ Qatari banks: Fitch

Arab boycott of Qatar will increase banks' financing costs in the international debt markets, Fitch said.

Government boosts 95-octane supplies on high demand

The consumption of 95-octane rose by 400 percent after the latest fuel price hikes, Misr Petroleum Chairman said.

Trade minister to take part in Economic and Social Council meeting

Trade and Industry Minister Tareq Qabil will take part in a ministerial meeting of the Arab League's Economic and Social Council (ESC) slated for Thursday.



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