Update- Egypt’s business digest Aug. 26: Deals worth 400 mln EGP signed at China Trade Fair Egypt
Egyptians visit the 3rd China Trade Fair in Egypt at the Cairo International Convention Center in Cairo, Egypt, Aug. 25, 2016. (Xinhua/Meng Tao)

CAIRO: No more browsing from site to site, view the top business news stories on August 26 here:

 

Deals worth 400 mln EGP signed at China Trade Fair Egypt

The total signed deals on the second day of the third edition of China Trade Fair Egypt worth 400 million EGP, Youm7 quoted Ahmed Raafat, chairman of Arab Express Co. that organized the exhibition.

The three-day fair opened Thursday; it features 500 Chinese leading companies and over 20,ooo products.

Raafat expects the size of signed deals rise to 800 million EGP by the end of the exhibition.

 

Navigational route connecting Egypt’s Dahab, Saudi’s Tabuk to be established in 8 months

Transport Minister Galal Saeed announced a new port will be established in Dahab to connect the city to Tabuk of Saudi Arabia, where the navigational route will be opened in eight months and will take passengers only 30 minutes to cross, Youm7 reported Friday.

 

Electricity Ministry owes Petroleum Ministry 45B EGP

The Ministry of Electricity owes the Ministry of Petroleum 45 billion EGP because of local and imported fuel used to operate power stations, and has obligations to other government entities estimated at 8 billion EGP, spokesperson of the ministry Mohamed al-Yamani told Al-Asema channel Thursday.

 

2.6M EGP to be dispensed to 3.5K workers after company failed to pay salaries

A total of 2.6 million EGP will be dispensed by the Manpower Ministry for 3,578 workers at the Unirab textile factory in Alexandria after it failed to pay their salaries, Youm7 reported Friday. The ministry approved on Thursday to dispense 70,000 EGP  in subsidies  to 64 workers at Nights Bridge Chemicals company in Suez after it failed to pay their salaries as well.

 

Kharafi Group plans to be granted fourth license of mobile operation in Egypt

Bader al-Kharafi, the executive director of Kharafi Group, said the group’s company Zain is looking forward to be granted the fourth license for a mobile operator.

He told CNBC Arabia channel that the Egyptian market is one of the largest in the region and that the group is interested to work in it.

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