Business news wrap-up



Tue, 03 Oct 2017 - 05:00 GMT


Tue, 03 Oct 2017 - 05:00 GMT

Economy - Wikipedia Commons

Economy - Wikipedia Commons

Ridesharing services in Egypt to be regulated: Minister

The law is articulated in collaboration with the ministries of interior, trade and industry, and communications and information technology.

AfDB’s third $500M tranche receipt delayed to January

The original date of receiving the tranche was previously reported by the AfDB to be before the end of 2017.

Egypt's non-oil business activity hits 3-month low -PMI

PMI Index for the non-oil private sector slipped to 47.4 in September from 48.9 in August, remaining below the 50 mark that separates growth from contraction.

GASC gets offers from 11 suppliers at wheat tender: traders

The lowest offer was at $197.95 a tonne free-on-board for 60,000 tonnes of Russian wheat, traders said.

EGX ends in mixed note, market cap gains LE 4.7B

Benchmark went down 0.50 percent at 13,930 points.

Loan interests to burden budget with LE 410B in FY 2016/17

The Finance Ministry is working to fully automate the state budget to include one account for it and unify the purchasing system of the state.

$18B foreign investments in T-bonds until Sept.:Finance Ministry

The volume of foreign investments in the Egyptian treasury bonds stood at dlrs 18 billion until the end of September, the deputy finance minister said.

Egypt, Finland discuss coop. in industrial waste treatment

Environment Minister Khaled Fahmy on Tuesday discussed with Finnish Ambassador to Egypt cooperation in the environmental domains, including treatment of industrial waste and controlling industrial pollution.

Russian trade minister visits Egypt for industrial zone

Egyptian exports to Russia edged up for the first time in three years to record $360 million in the first half of 2017.

World Bank praises Egypt's reform plan: Minister

The World Bank Group has contributed a total of $4 billion to Egypt’s energy sector in three years.

CI Capital to acquire Naguib Sawiris’ stake in Reefy

CIB-affiliated investment bank will hold Gemini Egypt Holding for Financial Investments stake in the company.

Tax revenues increase by 34% in FY 2016/17

Tax revenues in fiscal year 2016/2017, which ended on June 30, increased by 34.1 percent year-on-year to reach LE 659 billion.

U.S. dollar exchange rate slightly down in Egyptian banks

It recorded LE 17.59 for buying and LE 17.69 for selling.



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