Business News Wrap-up
Wed, Mar. 14, 2018
Egyptian and Arab selling pushed the Egyptian Exchange’s (EGX) indices to end Wednesday’s session in Red and market capitalization lost LE 4.3 billion.
A delegation from French multinational Group Renault is conducting field trips to a number of local car assembly lines, with the Egyptian International Motors Company (EIM) – their agents in Egypt.
Some 3,195 national projects have been executed in the last four years, costing LE 667 billion, presidential aide for national and strategic projects Ibrahim Mahlab said Wednesday.
Pioneers Holding Company for Financial Investment SAE (PIOH) marked a 5.3 percent gross in its annual profits to reach LE 1.14 billion ($64.70 million) before minority, compared to LE 1.08 billion in 2016.
Some 102 Egyptian companies participated in the “Fruit Logistica" fresh produce trade show held in Berlin in February, where the commercial office in Berlin helped in concluding export contracts for Egyptian companies worth $130 million, Trade Minister Tarek Kabil said Wednesday.
There are attempts with the United States to exempt 12 countries, including Egypt, from the fees imposed by President Donald Trump on imports of steel and aluminum, official Egyptian sources stated on Wednesday.