UPDATE: Egypt’s business digest July 1: Egypt to issue t-bills, bonds worth 97.75b EGP in July
Minister of Finance: Amr al Garhy

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Egypt’s Finance ministry to issue t-bills, bonds worth 97.75b EGP in July

The Finance Ministry plans to put forward treasury bills and bonds worth 97.750 billion EGP in July, state news agency MENA reported on Friday.

In the short term, the ministry will offer three-month, six-month, nine-month and one-year treasury bills, while as for the long-term debt tools, the ministry intends to sell three-year, five-year, seven-year and ten-year treasury bonds, data from the ministry showed.

Cairo seen improving bid for RCS by end of Friday – source

Italy’s Cairo Communication plans to improve its all-share takeover offer for RCS MediaGroup by the end of Friday, a source close to the matter told Reuters, in a move bound to intensify the battle for control of the influential publisher.

Friday is the last day for Cairo to sweeten its offer.

Egypt repays $1bln owed to Qatar: CBE governor

Egypt returned a $1 billion deposit to Qatar, the last of the Qatari deposits at the central bank on Friday, the bank’s Governor Tarek Amer was quoted by Al Ahram.

Qatar gave Egypt $7.5 billion in loans and grants during the one-year tenure of former President Mohamed Morsi but relations between the two countries tensed due to Qatari opposition to Morsi’s ouster in 2013.

Egypt also repaid $800 million of debt to the Paris Club of creditor countries next July, Amer said.

Investment Ministry seeks independent legislation for economic zones

The Investment Ministry has contacted the Finance Ministry to put the special economic zones under the jurisdiction of the law of incentives and investment guarantees so these zones can enjoy their own legislation, executive director of the General Authority for Investment Mohamed Khodeir told Youm7 Friday.

Telecommunications ranks first at EGX last week

The telecommunications sector ranked first among the rest at the Egyptian Stock Exchange last week with a trade volume of 169.7 million shares worth 255.6 million EGP, followed by financial services sector.

Egypt for Adamantine Works finishes fiscal year with work volume of 750M EGP

Egypt for Adamantine Works will have made accomplished works worth 750 million EGP by the end of the 2015\2016 fiscal year, deputy head of the company Mohamed Hamza told Youm7 in a Friday report.

The company targets work volume of 850 million EGP in the next fiscal year, he said.

$1-billion UAE deposit to pay Egypt’s debts to arrive within days

The first tranche of the $2-billion UAE deposit will arrive in Egypt in days as part of its $2 billion deposit promised by the Gulf ally, allowing Egypt to pay foreign debts of $1.7 billion in July for Qatar ($1 billion) and Paris Club ($700 million,) a high-level Central Bank of Egypt source told Youm7 in a Friday report.]

Investor Complaint system to be activated

The Investor Complaints system will be activated before referring the cases to courts as part of a strategy to facilitate the work of investors in Egypt, executive director of the General Authority for Investment Mohamed Khodeir told Youm7 Thursday.

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