Egypt’s business digest July 8: Egypt’s cooperation portfolio with IDB worth $2 bln; foreign direct investments up to $5.8 bln in FY 2015/2016
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CAIRO: No more browsing from site to site, view the top business stories in Egypt July 8 here:


Egypt’s cooperation portfolio with IDB worth $2 bln: source

Egypt’s current cooperation portfolio with the Islamic Development Bank (IDB) includes 14 undergoing projects in different sectors worth a total of USD 2 billion, an anonymous source at the Ministry of International Cooperation told Youm7.

The source said that IDB’s most finance goes to power and energy sector, as it funds eight projects worth USD 1.6 billion.


New Alamein to witness investments worth 3 billion EGP in 2016/2017 development plan

A report by the Ministry of Planning revealed that the new Alamein city, with a distance of 8000 feddan, is expected to witness investments worth 3 billion EGP as part of the 2016/2017 development plan of the western north coast area.


Slight increase in Egypt’s tomatoes exports of tomatoes

Egypt has exported a total of 90,000 tons of tomatoes worth $56 million during the period from September 2015 to May 2016 with a slight increase compared to 88,000 tons worth $58 million, according to a statement by the export council for agricultural crops.

The secretary of the council’s fund Mostafa el-Nagary said that the Russian market will receive Egypt’s exports of tomatoes, which will double the export volume in the coming period, Youm7 reported.


Net foreign direct investments increase to $5.8 bln in FY 2015/2016 – Investment Ministry

Ministry of Investment announced the rise of net foreign direct investments have increased during the period July 2015 to March 2016 during the fiscal year 2015-2016 by 13.7 percent reaching $5.8 billion, compared to $5.1 billion during the same period last year, Youm7 reported.


Orascom Telecom tops 10 most active companies at EGX 

Orascom Telecom Media and Technology Holding (OTMT,) owned by Business Tycoon Naguib Sawiris, topped a list of 10 most active companies in terms of trading volume in the Egyptian stock market during the last week with 30.6 million EGP traded over 54.8 million securities, Youm7 reported.

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