U.S. one-hundred dollar bills are seen in this picture illustration, August 2, 2013 - REUTERS/Kim Hong-Ji/Illustration U.S. one-hundred dollar bills are seen in this picture illustration, August 2, 2013 - REUTERS/Kim Hong-Ji/Illustration

Business News wrap-up

Sun, Dec. 17, 2017

Sisi meets Amer to review economy’s performance



The president reviewed the current economic situation and the developments in the currency exchange rate with Amer.

Parliament approves comprehensive health insurance bill



Subscription would be obligatory for those who can afford covering treatment costs for all diseases.

Cabinet approves first phase of projects funded by World Bank loan



Planning Minister Hala el-Saed said that LE 1.1 billion ($61 million) would go to projects in Sohag, while the rest would be directed to Qena.

Dollar exchange stable at Egypt's major banks



The U.S. dollar exchange rate was relatively stable during morning transactions at major banks on Sunday.

Government borrows LE 13.25B in T-bills Thursday



The T-bills are to be offered in two installments, at LE 6.5 billion and LE 6.75 billion.

Initial Zohr output raises Egypt's natural gas output to 5.5B cf/d



The mammoth field has begun an initial production of 350 million cubic feet per day.

Saudi Aramco supplies 1M barrels of crude to Egypt in Nov, Dec



Saudi Arabia agreed in April last year to provide Egypt with 700,000 tonnes of refined oil products monthly.

Initial Zohr output raises Egypt's natural gas output to 5.5B cf/d



The mammoth field has begun an initial production of 350 million cubic feet per day.

Microfinance registers LE 6.1B in Q3 2017



A number of 840 entities were granted licenses by the EFSA to operate in the microfinance sector.

GAFI head tours governorates in search of investment zones



Mona Zobea, Acting CEO of the General Authority for Investment is conducting field visits a number of governorates to choose new investment and free zones.

EFG Hermes firm sells 45% stake in solar power arm



Malaysia’s second-largest pension fund has acquired a 45 percent stake in EFG Hermes’ Vortex Solar Investments.
 
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