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.
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.
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.
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.
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.
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 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.
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.
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.