Business news wrap-up

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Mon, 30 Oct 2017 - 05:30 GMT

Dollar banknotes - Jericho via Wikimedia

Dollar banknotes - Jericho via Wikimedia

Egypt, Italy discuss boosting investment, aid programs


In a meeting with Minister of Investment Sahar Nasr, Cantini discussed areas in which Italian investors can contribute to help Egypt achieve its economic reform.

UK contributes $97M to IFC-led solar plants financing schemes


IFC injects $653 million into 13 solar power plants in the Nubian Suns project, located in Benban city of Aswan.

EU considers expanding economic cooperation with Egypt


Hahn said that the EU will increase its efforts to support the small and medium enterprises (SMEs) sector in Egypt.


BOP records $13.7B in surplus in FY 2016/17: CBE


Non-petroleum exports hiked 15.9 percent year-on-year in that period to stand at $21.7 billion.

Egyptian Exchange hosts ASEA annual conference next month


The Egyptian Exchange (EGX) will host next month the 11th annual conference of the African Securities Exchanges Association (ASEA), Egyptian Exchange said in a Monday statement.


Floating pound increases competitiveness of Egyptian industries


Chairman of exporters Division at the Federation of Egyptian Chambers of Commerce (FEDCOC) Sherif al Gabaly on Monday hailed the decision of floating the Egyptian pound.

Egypt made big strides in executive steps of Daaba Project: Minister


Minister of Electricity and Renewable Energy Mohamed Shaker said Egypt has made big strides in finalizing the executive measures needed for its partnership with Russia in Daaba nuclear plant with an expected capacity of 4800 megawatt.

EGX indices closes in green, benchmark still at highest level

Benchmark EGX30 grew 1.23 percent at the end of the trading session to stand at 14,197points, recording the highest level.

El Etreby says our presence in Russia targets enhancing joint ties


The Chairman of Banque Misr Mohamed el Etreby stressed the depth of the Egyptian-Russian relations in various fields.

Dollar exchange rate stable at major banks


The US dollar exchange rate was relatively stable during morning transactions at major banks on Monday.

AOI: Egypt's new investment climate lures foreign investments


Board chairman of the Arab Organization for Industrialization (AOI) Abdel Aziz Seif el Din asserted on Monday.

Oil prices firm on expected extension of output cuts

Oil markets were firm on Monday, with Brent remaining above $60 per barrel on expectations that an OPEC-led production cut due to expire next March would be extended, although rising exports from Iraq kept a lid on prices.

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