Business news wrap-up
Mon, Nov. 27, 2017
Arab and foreign individuals as well as foreign institutions were net sellers at LE 16.5 million, LE 13.9 million and LE 30.6 million respectively.
State transfers registered $66.5 million of this figure in Q4.
The T-bonds are to be offered at LE 1.5 billion with a three-year term and at LE 1 billion with a 7-year term.
German carmaker BMW (BMWG.DE) will further raise its spending for research and development next year, to between 6.5 and 7 percent of sales.
Asian stocks surrendered early modest gains and retreated from a decade high on Monday, caused by weakness in the Chinese and South Korean markets.
Inflation should go down steadily over the next year and into single digits by 2019, Subir Lall Assistant Director in the European Department of IMF said.
Samsung Electronics Co Ltd’s (005930.KS) shares fell more than 4 percent to a one-month low on Monday after Morgan Stanley cut its recommendation.
Japan’s government is set to compile an extra budget worth around 2.7-2.9 trillion yen ($24-26 billion) for the fiscal year ending in March 2018.
The government is focusing on services and community projects, Hala el-Said Minister of Planning noted.
Bilateral trade between Egypt and Asian countries declined to $23.1 billion in the first eight months of 2017.
Investment and International Cooperation Minister Sahar Nasr said that the government seeks to upgrade the Egyptian Exchange (EGX).