Afternoon Business Digest June 12
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Egypt’s EFG-Hermes to distribute $122m to shareholders: Amwal al Ghad

EFG-Hermes said in a statement Sunday it will distribute 1.08 billion EGP (about $122m) from the sale of a 40-percent stake in Credit Libanais to its shareholders in the form of cash and share buybacks.

Meat prices up 15% during Ramadan: Youm7

The price of meat in Egypt rose by 15 percent during Ramadan this year, compared to the same period in 2015, Youm7 quoted a report from the Giza Chamber of Commerce on Sunday.

EFCC to submit amendments to investment law: Youm7

The Egyptian Federation of Chambers of Commerce (EFCC) will submit to the investment ministry draft amendments on the investment law, according to Ahmed Al-Wakeel, EFCC Chairman told Youm7 Sunday.

Construction of ministerial buildings in new capital to start end of June: Amwal al Ghad

The construction of 18 ministerial buildings in Egypt’s new administrative capital city is scheduled to start by the end of June, Housing Minister Mostafa Madbouly was quoted by Amwal al Ghad newspaper on Sunday.

Egypt’s strategic sugar reserves enough for a year: Min: Youm7

Supply Minister Khaled Hanafy announced in a statement that Egypt has enough strategic reserves of sugar enough for a year, according to Youm7.

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