Business News Wrap-up



Thu, 12 Apr 2018 - 05:19 GMT


Thu, 12 Apr 2018 - 05:19 GMT

FILE - Egyptian Currency

FILE - Egyptian Currency

Gasoline and diesel consumption down 2-3%, subsidy bill hits LE 110B

Gasoline and diesel consumption declines for the first time this year by 2 to 3 percent, compared to the rise of 4 percent during latest years, Minister of Finance Amr el-Garhy said.

Consortium seeks to expand wind power generation project: Ministry

A consortium of Orascom Construction, Engie, and Toyota Tsusho Corporation has filed a request to expand in a power generation plant in the Gulf of Suez’s Gabal El-Zeit, a source at the Electricity Ministry said on Thursday.

Egyptian oil min. meets with several counterparts on sidelines of IEF

Petroleum Minister Tarek el-Molla held a series of bilateral meetings with a number of his counterparts on the sidelines of his participation in 16th International Energy Forum (IEF) Ministerial Meeting held in New Delhi.

EGX ends three-day week on mixed note, market cap. loses LE 10.6B

The Egyptian Exchange (EGX) ended the three-day week on a mixed note, amid profit picking processes after the benchmark passed 17.900 levels during Wednesday’s session.

The benchmark EGX30 declined 1.83 percent by the end of Thursday’s session, or 328.27 points to end at 17,615.69 points.

Egypt, Portugal sign cooperation protocol, MoU

President Abdel Fatah El Sisi and his Portuguese counterpart Marcelo Rebelo de Sousa attended on Thursday the signing of a cooperation protocol and a memo of understanding between Egypt and Portugal.

Asset’s sovereign fund improves Egypt's competitive position: Min.

Establishing an asset’s sovereign wealth fund aims to contribute to the sustainable development and optimal use of public resources, in addition to improving the efficiency of infrastructure, Planning Minister Hala al-Saeed said.

Orascom Construction’s profit jump to $85.1M in 2017

Orascom Construction Ltd's consolidated profits marked a 60.6 percent increase during 2017, recording $85.1 million (LE 1.5 billion), compared to $53 million in 2016.

Sukari mine produced 105.5 tons since 2010

Gold production at Sukari mine has recorded 105.5 tons at the end of March since 2010, according to General Manager of Centamin Company Youssif el-Raghy.

Telling the Story of EGX Reform: Exclusive interview

Mohamed Farid talks to Business Today Egypt about implemented reforms, the increasing initial public offerings (IPO) and his overall outlook on the EGX. Before assuming his current position, Farid had served as the vice chairman of the EGX in 2010 and 2011, and then the chairman and CEPO of the think tank Dcode.



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