Business news wrap-up

EGX extends gains, Ibnsina ends at 16% up on 1st trading day

Benchmark index EGX30 went up 1.13 percent to stand at 14,590 points.

Pharmaceutical investments in Egypt hit LE 120B: Official

Head of the Federation of Egyptian Chambers of Commerce Ahmed al Wakil said that the value of pharmaceutical investments in Egypt hit LE 120 billion ($6.7 billion).

HSBC: Tough measures rescued Egyptian economy

HSBC economic experts said the tough measures taken by the Central Bank of Egypt (CBE) have rescued the Egyptian economy.

Egyptian logistical center to be set up in Russia: Official

A feasibility study has been compiled on setting up an Egyptian logistical center in Russia within two months as of now.

Ibnsina Pharma starts trading on EGX

Trading on Ibnsina shares is crucial to expand governance operations, disclosure and transparency of companies.

Dollar inflows of Egypt’s six main sources double to $24.9B in Q1 of FY 2017/18

Dollar inflows from Egypt’s six main sources doubled in Q1 of FY 2017/18 to $24.9 billion.

Egypt-Brazil committee to be formed to boost business ties

Bilateral trade volume between Egypt and Brazil reached $867 million in the first nine months of 2017.

Oil prices jump on pipeline outage, stocks take breather

Oil prices jumped on Tuesday after the shutdown of a North Sea pipeline knocked out significant supply from an already tightening market.