Business news wrap-up



Fri, 25 Aug 2017 - 04:48 GMT


Fri, 25 Aug 2017 - 04:48 GMT

Stock exchange - Creative Commons via Wikimedia Commons

Stock exchange - Creative Commons via Wikimedia Commons

GlobalMarkets names Tarek Amer Central Bank Governor of the Year

The choice came as Amer was the architect the IMF’s Extended Fund Facility program for Egypt, GlobalMarkets said.

EGX ends week in red, benchmark falls 1.5%

Market capitalization dropped LE 8.5 billion, or 1.2 percent, falling to LE 689 billion compared to LE 697.58 last week.

Nasr, Mamish open Egypt-Singapore Business Forum

Investment Minister Sahar Nasr and Head of the Suez Canal Economic Zone Mohab Mamish opened on Friday the Egypt-Singapore business forum.

Egypt’s energy sector recuperates as solar projects progress

Solar plants at Benban city of Aswan might be seen operating in 2018 as international financial institutions agreed to finance developers of FiT second round.

Trade balance deficit loses $10B in one year: Trade Minister

"Imports used to kill industry for their bad quality and for the lack of surveillance," Minister of Trade Tarek Kabil noted.

Egypt's Carbon Holdings aims to start building Tahrir petrochemicals project by June

Egypt’s Carbon Holdings aims to finalize funding and start building its massive Tahrir petrochemicals project by June.

Dar Misr’s Sheikh Zayed residential units 95% complete

Contractors started working on installing water, power and gas networks to service the project.

Brexit could bring 100,000 jobs to Frankfurt: study

The expected mass exodus of UK-based bankers because of Brexit could bring up to 100,000 new jobs to Germany's Frankfurt region over the next four years.

Oil up as U.S. rigs and refineries brace for hurricane

Oil prices rose on Friday as the U.S. petroleum industry braced for Hurricane Harvey.

Uber battle escalates as investors try to intervene in Benchmark lawsuit

A battle among shareholders over Uber Technologies Inc [UBER.UL] escalated on Thursday as some investors sought to fight a lawsuit by shareholder Benchmark.

Stocks heading for best weeks in six ahead of Yellen, Draghi speeches

World stocks climbed toward their best week in six on Friday, as a near three-year high in emerging market shares.



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