Business News Wrap-Up



Tue, 19 Jun 2018 - 05:00 GMT


Tue, 19 Jun 2018 - 05:00 GMT

FILE - Egyptian Currency

FILE - Egyptian Currency

EGX loses LE 4.2B of market cap. in 1st session after Eid Al-Fitr

The Egyptian Exchange (EGX) started the first session after Eid Al-Fitr holiday on a mixed note, losing LE 4.2 billion of its market capitalization, amid Arab selling.

Sunday and Monday, June 17 and 18, were an official holiday on the occasion of Eid Al-Fitr.

OPEC sees strong oil market, possible need for more output

Global oil demand is set to stay strong in the second half of 2018, an OPEC technical panel forecast this week, suggesting the market could absorb extra production from the group.

Egypt's exports of plastic and rubber jump 27% in 4 months

Egypt's exports of plastic and rubber products increased 27 percent during the first four months of 2018, recording $539.19 million, compared to $426.18 million during the same months of 2017, according to the Chemical & Fertilizers Export Council.

Sukari mine’s production of gold reaches 107.7 tons: Centamin

Production from Egypt’s Sukari Gold Mine has reached 107.7 tons of gold since the mine started production in 2010 and until May 2018, General Manager of Centamin Egypt and Managing Director of Sukari Gold Mining Company Youssef el-Raghy said.

Raghy added that Egypt received a total of $309.2 million on profit account and tribute from the Sukari Gold Mine.

Browsing for the Next Home

The Egyptian real estate market has seen a growth of 133 percent during the first quarter of 2018 due to the number of new projects launched in late 2017, particularly the New Administrative Capital and Future City projects, according to a report by the online real estate platform Property Finder.

CEO of Property Finder Group Micheal Lahyani and Managing Director Mohamed Hammad talk to Egypt Today Egypt about their group, their work in Egypt and their insights on the Egyptian real estate market.



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