No more browsing from site to site, view the top business news stories here:
Egypt’s stock indexes begin morning dealings on collective rise
The Egyptian stock indexes began its morning transactions Monday on a collective rise except for small and mid-cap companies’ index.
The main index EGX30 rose by 0.31 percent; the EGX50 rose by 0.15 percent; the EGX20 index rose by 0.44 percent; the broader EGX100 index rose by 0.02 percent, and the EGX70 of the small and mid-cap companies declined by 0.05 percent.
CAPMAS: 54.2% decline in Egypt’s cotton exports
The Central Agency for Public Mobilization and Statistics (CAPMAS) issued a quarterly bulletin Monday stating a decline of 54.2 percent in the Egyptian cotton exports during the second quarter of the agricultural season 2015/2016.
The bulletin said that the total amount of Egyptian cotton exports reached 112.7 thousand metric Kentar during (December 2015/February 2016) compared to 246.0 thousand metric Kentar during the same period of the previous season.
The bulletin attributed the decline to the decrease of cotton crop.
IFAD: Egypt largest recipient of loans in North Africa with $393 m
A recent report by the International Fund for Agricultural Development (IFAD,) received by Youm7, stated that the fund has committed US$392.7 million in loans to Egypt since 1981; the figure was invested in 12 agricultural development programs.
The fund has categorized Egypt as IFAD’s largest recipient of financial assistance in t he Near East and North Africa.
Benefiting about 1.1 million poor rural households, the projects were conducted in collaboration between the fund and smallholders, the government and other partners in Egypt.
USD exchange rate slightly declines Monday
The U.S. dollar exchange rate slightly decreased Monday against the Egyptian pound in the official market, reaching 8.83 EGP in purchasing and 8.88 EGP for selling.
In the informal market (Black market,) the U.S. dollar exchange rate increased by 0.5 piaster, recording 10.80 EGP for purchase and 10.85 for selling.
The Euro exchange rate against the EGP reached 9.91 EGP for purchasing and 10.00 for selling.
CBE auctions 4.7 billion EGP in treasury bonds Monday
The Central Bank of Egypt (CBE) auctioned Monday 4.7 billion EGP in treasury bonds over three installments; the first worth 1.2 billion EGP for one year and half term; the second worth three billion EGP for three-year term, and the third worth 500 million EGP for seven-year term.