Business news wrap-up



Tue, 29 Aug 2017 - 04:55 GMT


Tue, 29 Aug 2017 - 04:55 GMT

Stock market- Reuters

Stock market- Reuters

Three $81.4M agreements signed for Egypt’s oil, gas exploration

The agreements were signed between the EGPC, Royal Dutch Shell and Apex.

Egypt signs agreement with China Exim Bank

The agreement will finance implementing projects over the next three years, Minister of Investment said.

K&A awarded consultancy works of 1st phase of new electric train

K&A Consultants will supervise the implementation of first phase of the new electric train, extending from Al-Salam City to the Robeeki city.

Egypt, Singapore to set up industrial park in SCZone

Egypt is keen on attracting Singaporean investors, especially in the urban development sector, in which Singapore has significant expertise.

Production of BP’s Atoll field to begin ahead of schedule

The production is estimated to come at a rate of 300 million cubic feet of gas per day.

S&P maintains Qatar Petroleum rating at AA-

S&P’s assessment came as a result of QP's critical role in supporting the Qatari economy.

Egypt considers extending Iraqi crude import contract

Under an agreement, 12 million barrels of oil shipments are to be delivered to Egypt from the state oil marketing company SOMO.

Chinese firms eye investing in New Admin Capital: Ambassador

Investments of Chinese companies in Egypt reached a total of $6.8 billion, most of them entered in the last five years, Song Aiguo said.

Dollar exchange rate declines 3 piasters against Egyptian pound

It registered LE 17.63 for buying and LE 17.73 for selling.

EGX ends on mixed note, benchmark gains 1.4%

Market capitalization stood at LE 699.34 billion. Turnover registered LE 747 million, while traded volume achieved 180.6 million shares.

Gulf to be sluggish but FTSE hopes may support Saudi, Kuwait

Gulf stock markets look set to remain sluggish on Tuesday although hopes for inflows of foreign funds into Saudi Arabia and Kuwait may support those two bourses.

2018 start for Russia-backed nuclear plant work: Hungary

Work on the Russian-financed expansion of a Hungarian nuclear plant will begin in January.

Renault, Nissan to ink new JV with Dongfeng for electric cars

Nissan Motor and its alliance partner Renault are setting up a new joint venture in China with Dongfeng Motor Group to design and build electric cars, joining a list of global automakers aiming to make such vehicles in China.



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