Egypt’s Business digest June 16: CBE’s monetary policy committee meets Thursday to discuss raising interest rates, Egypt’s stock opens Thursday at dip, Sisi ratifies deal between Egypt, EBRD to build electricity plant in Damietta
Central Bank of Egypt -YOUM7 (Archive)
By

CAIRO: No more browsing from site to site, view the top business news stories of Egypt on June 16.

Alfa and Ericsson join forces to deploy 4GLTE- Advanced (LTE-A) networks throughout Lebanon – Press Release by Ericsson 

Alfa, the first Lebanese mobile network managed by Orascom Telecom, signed an agreement with Ericsson to deploy 4G LTE-A network across Lebanon. In addition, the two companies signed a Memorandum of Understanding (MoU) to start exploring 5G capabilities on the Alfa network.

Ericsson’s LTE advanced technologies will enable Alfa to offer an exceptional data experience to its end users, in addition to high-speed data services, extendeddata coverage and more bandwidth for their usage. It will also further enable the operator to offer advanced services and introduce new applications to the Lebanese market such as HD voice, HD video streaming,as well as explore new domains such as mhealth, cloud services, and offer rich content and multi-media applications, in addition to tapping the Internet of Things (IoT) market.

 

CBE’s monetary policy committee meets Thursday to discuss raising interest rates

The Central Bank of Egypt’s (CBE) Monetary Policy Committee will convene on Thursday to review whether to raise or hold current benchmark interest rates including the overnight deposit rate and the overnight lending rate, Youm7 reported.

 

Egypt’s stock opens Thursday at dip

The Egyptian Stock exchange opened Thursday with a dip of 0.10 percent for the benchmark index EGX30, and the EGX50 declined 0.5 percent, Youm7 reported.

 

Sisi ratifies deal between Egypt, EBRD to build electricity plant in Damietta

President Abdel Fatah al-Sisi ratified an agreement between Egypt and European Bank for Reconstruction and Development (EBRD), per which Cairo will take a loan to build an electricity power plant in coastal city of Damietta, according to the official newspaper al-Waqaei al-Rasmyia Thursday. The agreement has been signed between both sides on March 31, 2014.

 

Egypt is guest of honor in Togo’s Lome International Trade Fair

Egypt will be a guest of honor in the 13th round of the Togolese Lome International Trade Fair that scheduled to be held in November, State-owned news agency MENA reported Egyptian ambassador to Togo Karim Sherif Wednesday evening.

 

Makarony Polskie updates on talks with Raya Holding – Reuters

(Reuters): Poland’s Makarony Polskie SA said on Wednesday that it signed a non-disclosure agreement with a potential investor, Egypt-based Raya Holding for Technology & Telecommunications S.A.E. The agreement is about maintaining confidentiality during the due diligence checks of Makarony Polskie in regards to negotiations concerning cooperation and the company’s engagement on the African markets.

Recommend to friends

Leave a comment