Egypt business digest Sept. 3: Egypt’s exports to Russia rose to $59.1 mln: CBE report
CBE building - YOUM7 (Archive)

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Egypt’s exports to Russia rose to $59.1 mln: CBE report

A report by the Central Bank of Egypt (CBE) stated that Egypt’s exports to Russia and the Commonwealth of Independent States rose to $59.1 million by the end of the third quarter of the last fiscal year.

The total exports reached $52.9 million by the end of the second quarter of the last year that ends in December 2015.


VAT act to reduce prices of electricity appliances

Taxes Expert Hany el-Ashmouny said that applying VAT act will reduce prices of electricity devices like household appliances: refrigerators and air conditions, by 4 percent.


Main index EGX30 rose by 0.06% during last week’s sessions

The main EGX30 index recorded a slight increase by 0.06 percent, and EGX20 increased by 0.41 percent during last week’s transaction sessions.

On the other hand, EGX100 index saw a decline by 0.61 percent, according to the weekly report by the Egyptian Stock Exchange.


Expolink: we aim to increase exports to Africa to $5 bln

The Egyptian Exporters Association “Expolink” announced that a number of members have formed a coalition to establish farms in African countries, Youm7 reported.

General Secretariat of Expolink, Amr Abdel Latif said that the coalition has so far cultivated 25 feddans of corn in Cameron, and is currently studying to grow rice in Chad.

He added that the association aims to increase exports to Africa to $5 billion.


Finance Ministry puts forward treasury bonds totaling 4.750b EGP

The Ministry of Finance will put forward a total of 11.2b EGP in treasury bonds Sunday; the first bond is worth 5.7 billion EGP were put forward with a maturity of 91 days, and bonds worth 5.5 billion EGP for 273 days.

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