Business News Wrap-up



Tue, 27 Feb 2018 - 05:00 GMT


Tue, 27 Feb 2018 - 05:00 GMT

FILE- Egyptian currency

FILE- Egyptian currency

Fitch expects Egypt’s inflation to fall to 13% in 2018

Fitch Rating expected Tuesday that inflation in Egypt will fall further this year but remain in double digits, averaging around 13 percent, assuming that further subsidy reform in July leads to energy price increases, especially given higher oil prices.

EGX ends Tuesday in green, market cap. gains LE 4.4B

The Egyptian Exchange (EGX) ended Tuesday in green, and market capitalization gained LE 4.39 billion.

The benchmark EGX30 rose 0.45 percent, or 68.88 points, to end at 15,522.88 points.

Trade Min. inaugurates 2 production lines of Mars worth LE750M

Minister of Industry and Foreign Trade Tarek Kabil inaugurated Tuesday the first phase of the expansion of Mars Wirgley Egypt's factory in the 6th of October factory, with two new production lines worth LE 750 million.

Mars Wrigley doubles investments in Egypt to LE 2B

President of Mars Wrigley Confectionery Martin Radvan said that Egypt had been and still a perfect market, which supported the company's choice of Egypt to be its center of production in the ME and Africa.

Molla chairs first meeting of gas regulatory authority

The law regulating the gas market is supporting Egypt’s strategic goal of becoming a regional energy hub, Petroleum Minister Tarek el-Molla said in a statement on Tuesday.

Egypt Kuwait Holding to drill 5 wells with $110M

Egypt Kuwait Holding (EKH) announced that it excogitates drilling five new wells in 2018 with an investment cost of $ 110 million, according to a filling to the Egyptian Exchange (EGX).



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