Foreign currency – Courtesy of Pexels
Trade relations between Egypt and the United Arab Emirates (UAE) is developing significantly in the current period, with the trade balance tilting in favor of Egypt to reach $1.5 billion in 2017, compared to $1.4 billion in 2016, Trade Minister Tarek Kabil said Sunday.
Centamin Egypt, which operates the Sukari gold mine, is targeting to pay some $137 million to the Egyptian Mineral Resource Authority (EMRA) in 2018, Chairman of mineral exploration and mining company Centamin Egypt Youssef el-Raghy said Sunday.
The Industrial sector is awaiting a number of important events and decisions in 2018 that will help boost the sector. Egypt Today takes a look into some of these decisions.
Egypt and the United Arab Emirates (UAE) enjoy solid economic relations that have particularly developed following the 30 June revolution in 2013. The UAE was among the top Arab states that scrambled to support Egypt’s economy after the June revolution and had offered great financial support.
Encouraged by Egypt’s economic reforms, a major gas find, streamlined business rules and a devalued currency, investors are increasingly optimistic about prospects for the North African country after years of political turmoil.
A package of handouts to Saudi Arabian citizens to compensate them for cost of living increases will cost the government about 50 billion riyals ($13.3 billion) this year, the information minister was quoted as saying on Sunday.