Business News Wrap-up

Egypt’s foreign reserves to reach $41B after Eurobond issuance

Egypt’s foreign reserves could surpass $41 billion for the first time after Egypt received the proceeds from its recent eurobond issuance, which amounted to $4 billion, banking sources said Saturday.

Egypt targets 7% growth rate in 2022: Min.

Egypt is targeting a growth rate of 5.8 percent in fiscal year 2018/19 and 7 percent in 2022, Planning Minister Hala al-Saeed said Saturday.

Egypt’s trade deficit drops 15.7% in first half of 2017/18

Egypt’s Trade Deficit declined 15.7 percent year-on-year in the first half of fiscal year 2017/18, dropping from $21.7 billion to $18.3 billion, Planning Minister Hala al-Saeed said Saturday.

Remittances from Egyptian expats in Jordan reach $80M in January

Remittances from expatriate Egyptians in Jordan stood at $80 million in January, the Egyptian Embassy in Jordan said.

Hariri lauds investment opportunities in Egypt

Egypt is a promising market, particularly in the field of communications and IT, Lebanese Prime Minister Saad al-Hariri says.

Shoukry meets with delegation from AmCham

Foreign Minister Sameh Shoukry met Saturday with a delegation from the American Chamber of Commerce in Egypt (AmCham), which will take part in a door-knocking mission to Washington in the coming period, foreign ministry spokesman Ahmed Abu Zeid said.

Egypt on a roll: World’s largest solar plant, regional energy hub, thriving economy

Benban solar park, named after a Nile River village close to the power plant, is set to be the largest solar plant in the world. The power plant will cover Egypt’s electricity needs and edge it forward on its path to becoming the region’s energy hub.