Business News Wrap-up

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Sun, 25 Mar 2018 - 05:06 GMT

FILE- Egyptian currency

FILE- Egyptian currency

IFC eyes investment in Egypt’s state-IPOs program



Supporting Egypt’s private sector is a priority for International Finance Corporation (IFC) as it invests in several industries, including the financial sector, IFC Country Manager in Egypt, Libya and Yemen Walid Labadi said.

Suez Canal revenues record $887M in 2 months



Suez Canal revenues marked an increase of 15 percent, or $116 million, during the first two months of 2018, according to Chairman of the Suez Canal Authority, Mohab Mamish.

China’s SAIC Motor to open car manufacturing factory in Egypt



Chinese car maker SAIC Motor is studying setting up a factory for car manufacturing in Egypt, a step that will boost and develop Egypt’s automotive industry, Trade Minister Tarek Kabil said Sunday.

EGX ends Sunday in red for 2nd session leaving 17,000 levels



The Egyptian Exchange (EGX) ended Sunday in red for the second consecutive session, amid Egyptian and Arab selling.

The benchmark EGX30 declined 0.47 percent, or 79.89 points, to end at 16,984.69 points.

Poland seeks to invest in Egypt



Executive Vice President of the Polish Investment and Trade Agency Wojciech Fedko visited Egypt to explore investment opportunities.


Sawiris, Masour offer to buy Qatari Diar investments in Egypt



Qatari Diar Real Estate Company has received offers from businessmen Naguib Sawiris and Yassin Mansour to buy the company’s investment in Egypt.

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