Egypt’s Business digest June 18: Egypt imported 20.8 billion cubic feet of liquefied gas since May
A man looks as the world's biggest Liquefied Natural Gas (LNG) tanker DUHAIL as she crosses through the Suez Canal - REUTERS
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CAIRO: No more browsing from site to site, view the top business news stories of Egypt on June 18.

 

Egypt imported 20.8 billion cubic feet of liquefied gas since May

The Egyptian Natural Gas Holding Company (EGAS) announced importing around 20.8 billion cubic feet of liquefied gas to meet electricity needs, according to Youm7. Egypt has received the said amount of gas over four consignments that began arriving at Ain el-Sokhna port since May; each shipment had 5.2 million cubic feet of gas.

 

French grants to Egypt’s metro project reach 50.6 m

The total amount of funds provided by France to finance the establishment of Egypt’s three metro lines has reached 2.6 billion Euros; 50.6 million Euros as grants, while the rest as soft loans, according to a statement by the Ministry of International Cooperation.

 

Egypt’s debts to Paris Club increases to $3.6 b

Egypt’s debts to the Paris Club Countries have increased into $3.6 billion by the end of March, compared to the country’s debts in December 2015 that were estimated at $2.6 billion.

In previous statements to Youm7, the head of the Central Bank of Egypt (CBE) Tariq Amer said that Egypt paid in January a new installment to Paris Club worth $700 million.

The Paris Club is a voluntary, informal group of creditor nations that work to provide debt relief to developing countries.

 

Businessmen association organizes Egypt-Indonesia forum in September

The Businessmen association in Alexandria is organizing an economic forum between Egypt and Indonesia in September to encourage trade exchange between the two countries, Youm7 quoted the chairman of the association Marwan el-Samak after his meeting with the Indonesian Ambassador Helmy Fawzy Friday.

 

Central bank raises 9.5 b EGP in T-bonds Sunday

The Central Bank of Egypt (CBE) on behalf of the Ministry of Finance is set to auction 9.5 billion EGP (around $1 billion) in treasury bonds Sunday, according to the bank’s official website.

The T-bonds are to be offered in two installments; the first valued at 4.5 billion EGP with 91-day term, while the second worth 5 billion EGP with a 266-day term.

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