Business news wrap-up



Thu, 30 Nov 2017 - 05:00 GMT


Thu, 30 Nov 2017 - 05:00 GMT

Foreign currency – Pexels

Foreign currency – Pexels

EBRD to fund water desalination plant in Ain Sokhna

The European Bank for Reconstruction and Development (EBRD) will help in establishing a water desalination plant in the Red Sea resort of Ain Sokhna and fund the related feasibility studies, Chairman of the Suez Canal Authority (SCA) Mohab Mamish said Thursday.

Egypt’s hotel reservations in Christmas are ‘very high’

Reservations for Christmas holidays in the hotels of the Red Sea, Luxor and Aswan are very high, compared to the same period last year, Magdi Nagib of the Chamber of Tourist Facilities said Thursday.

Egypt’s tax revenues reach LE 55.9B in two months

he Tax Authority has collected LE 55.9 billion in revenues in the first two months of fiscal year 2017/2018, compared to LE 37.9 billion in the same period of the previous fiscal year, a state statistics report said.

Trade Ministry to focus on quality system development

Developing Egypt’s quality system comes on the top of the Trade Ministry’s priorities in the current period, Trade Minister Tarek Kabil said in statement Thursday. He said that applying quality standards is essential to increase the competitiveness of Egyptian products in the local market and abroad.

Egypt participates in OPEC meeting

The Egyptian Minister of Petroleum Tarek el-Molla headed to Vienna to participate in the meeting of the Organization of the Petroleum Exporting Countries (OPEC), a Thursday statement from the ministry said. Based on OPEC’s ministerial meeting number 173, Egypt participates as a non-OPEC producer.

Meat Prices drop by 20%: Butchers Division

Head of the Butchers Division at Cairo Chamber of Commerce Mohamed Wahba attributed the decline to the weakened purchasing power of Egyptian families, who direct most of their expenses to education, and to an increase in the supply of meat in the market.

Sisi approves laws on nuclear power plants

President Abdel Fatah al-Sisi on Wednesday approved the law no 209 of 2017 on setting up an executive body to monitor projects of nuclear power plants.



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