Update – Egypt’s business digest Aug. 24: UAE deposit to stabilize foreign exchange market in Egypt: CBE
Central Bank of Egypt Governor Tarek Amer - Youm7 Archive

CAIRO: No more browsing from site to site, view the top business news stories on August 24 here:

UAE deposit to stabilize foreign exchange market in Egypt: CBE

Governor of the Central Bank of Egypt Tarek Amer said the $1 billion United Arab Emirates deposit will help stabilize the the foreign exchange market in Egypt, Youm7 reported.

EGX closes on collective high

The Egyptian Stock Exchange closed on a collective high Wednesday and profited 1.1 billion EGP, Youm7 reported.

Egypt delegation visits Australia to learn from experience on debtors’ guarantees 

A delegation from the General Authority for Financial Supervision has finalized a visit to Australia to learn from its leading experience in registering the guarantees of debtors, Youm7 reported.

Egypt’s Orascom Construction Q2 net falls to $26.4 mln

(REUTERS): Egypt’s Orascom Construction reported a 25 percent fall in second quarter net income to $26.4 million on Wednesday.

The engineering and building business, which is dual listed in Cairo and Dubai, reported a 0.7 percent rise in revenue to $1.024 billion.


EGAS imports 12 gas tankers in June: official

The Egyptian Natural Gas Holding Company (EGAS) has imported 12 liquefied gas tankers via Ain Sokhna Port in June, Youm7 quoted official sources in Petroleum department.

The imported amount of gas will be used to meet market’s needs.


Egypt to receive Italian grant to develop education policies

Minister of International Cooperation Sahar Nasr is scheduled to sign Wednesday an agreement with the Italian Ambassador in Cairo, to receive a grant for the education development fund.

The fund belongs to the cabinet and is a service organization aiming to improve and adjust education policies; it was established in 2004.


USD exchange rate ‘stable,’ reaches 8.88 EGP

The USD exchange rate has been stable against the Egyptian Pound, where it reached Wednesday 8.88 EGP for sale and 8.86 for purchase.


Egypt, India to increase bilateral trade exchange to $8 bln in 2017: MP

Member of Parliament Mohamed Salim said in a statement that there is an Egyptian- Indian desire to increase the volume of trade exchange between both countries to $8 billion by the year 2017.

Salim added that India looks to increase its investments in Egypt up to $10 billion.

The statement comes in coincidence with President Sisi’s visit to Indian, aiming to boost bilateral cooperation in different fields.


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