Business news wrap-up
Sun, Oct. 22, 2017
Consumers will not bear the approved increase in the prices of connecting natural gas to home consumers, a source in the petroleum sector said Sunday. He said that the petroleum ministry, represented in the Egyptian Natural Gas Holding Company (EGAS), will bear the hike.
A high-level delegation from the World Trade Organization (WTO) arrived in Cairo on Sunday for a five-day visit to discuss the WTO’s draft report on Egypt’s trade, economic and investment policies, Trade Minister Tarek Kabil said in a statement.
The Egyptian Exchange (EGX) indices showed mixed performance at the close of Sunday's trading. The market capital lost LE 3.2 billion to reach LE 764.5 billion, after transactions hit LE 1.077 billion.
Exports of the home textiles sector increased by three percent in the first nine months of 2017 to reach $375 million, compared with $365 million in the same period last year, the Egyptian Home Textile Export Council (HTEC) said Sunday.
Bahrain, Kuwait and the United Arab Emirates have agreed to lift a ban on imports of Egyptian agricultural products, the Egyptian agriculture ministry said in a statement on Sunday.
Petroleum Minister Tarek el Molla held on Sunday talks with newly-appointed Canadian Ambassador to Egypt Jess Dutton on boosting bilateral cooperation, especially in the domains of petroleum, natural gas and mineral wealth.
nvestment and International Cooperation Minister Sahar Nasr discussed with Swiss Ambassador in Cairo Paul Garnier ways to promote economic cooperation. The meeting also tackled increasing Swiss investments in Egypt and a new cooperation strategy for the years through 2020 that will be launched soon.