UPDATE: Egypt’s business digest Sep. 14:Egypt bourse closes on mixed performance after Eid al Adha holiday
The Egyptian stock exchange - AFP/Khaled Desouki
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CAIRO: No more browsing from site to site, view the top business news stories on Sept. 14 here:

Egypt bourse closes on mixed performance after Eid al Adha holiday

The Egyptian stock market closed on a mixed performance on Wednesday amid purchases by Egyptian and foreign institutions, Youm7 reported.

The main index, EGX30 went down 0.68 percent, to close at 8132.75 points, while EGX100 also went down 0.10 percent to close 816.06 points.

However, Mid- and small-cap index EGX70 rose 0.29 percent to close at 358.3 points.

Market capital lost about 2.4 billion EGP to reach 417.9b EGP on Wednesday closing.

 

330 cubic meters of gas added to EGAS production map

The Egyptian Natural Gas Holding Company (EGAS) said its daily gas production has increased by 330 million cubic feet after four new wells were linked to the production map, Youm7 reported on Wednesday.

The wells were discovered in concession areas of ENI, BP and Shell petroleum companies. Two of the wells belong to Petrobel, one belongs to Badr El-Din Petroleum Company, while the fourth belongs to Pharaonic Petroleum Company.

Egypt’s daily production of gas is estimated at four million cubic meters.

National Bank of Egypt may issue dollar-dominated bonds in inta’l market in 2017

The National Bank of Egypt is expected to issue dollar-dominated bonds in international markets in the first quarter of Fiscal Year 2017/2018 as a way to diversify the bank’s  the sources of foreign currency, Youm7 reported the Bank’s Chairman of the Board of Directors Hesham Okasha Wednesday.

 

Egypt produces additional 330 mln cubic feet of gas in August: Petroleum Ministry

Egypt’s Ministry of Petroleum announced Wednesday that its the petroleum sector succeeded to produce additional 330 million cubic feet of natural gas per day by the end of 20116 August, after developing four new wells of natural gas on the map of the state’s gas production in the Mediterranean, the Nile Delta and the Western Sahara regions, Youm7 reported.

 

CBE pumps $120 mln in domestic banks amid further devaluation of pound

The Egyptian Central Bank (CBE) pumped about $ 120 million into domestic banks Wednesday amid expectations of further devaluation of Egyptian pound against U.S. scale, after the closure of about 55 foreign exchange companies.

Egyptian pound steady at Wednesday auction

The Central Bank of Egypt has kept the pound steady against the US dollar at its official foreign currency auction on Wednesday, with the unchanged rate of 8.88 per dollar, data from the bank showed.

 

Minister of Migration to discuss tax exemption on expats’ cars

Minister for Migration and Egyptian Expatriates’ Affairs Ambassador Nabila Makram State will meet with representatives of a number of ministries and concerned bodies to discuss the ministry’s proposal of applying the tax exemption on cars owned by the Egyptian expatriates.

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