Business News Wrap-up

Egypt seeks to boost its car industry: Min.

Egypt seeks to boost its car industry by revising the local component percentage in car manufacturing so that it reflects the capacity of this vital industry, Trade Minister Tarek Kabil said Saturday.

Egypt achieves trade surplus with Tunisia of $317M in 2017

Egypt achieved a surplus of $317 million with Tunisia in 2017, compared with $123 million in 2016, with an increase of 157.7 percent, Trade Minister Tarek Kabil said Saturday.

Gov’t to raise women’s participation in workforce to 35% in 2030: Min.

The government is planning to raise women’s participation in the workforce from 22.8 percent in 2014 to 25 percent by 2020 and 35 percent by 2030, Planning Minister Hala al-Saeed said Saturday.

Egyptian bourse to benefit the most from CBE interest cut decision: Experts

A number of Egyptian economists stressed on Saturday that the Egyptian Exchange will benefit the most from the decision of the Central Bank of Egypt (CBE) to cut interest rate on deposits and loans by one percent.

FM urges Berlin to launch negotiations on implementing 2nd tranche of dept swap deal

Egyptian Foreign Minister Sameh Shoukry urged German Deputy Finance Minister Jens Spahn to start negotiations on the implementation of the second tranche of the current dept swap agreement worth EUR 170 million as well as to sign a new dept swap deal.

Trade exchange between Egypt, Russia registers $6.7B in 2017

The volume of trade exchange between Egypt and Russia hiked 62 percent year-on-year in 2017, registering $6.7 billion, Russian trade representative in Cairo Nikolai Aslanov said Saturday.