Egypt’s business digest Sept. 19: Euromoney Egypt 2016 conference kicks off Monday
Euromoeny Egypt 2016 Conference
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CAIRO: No more browsing from site to site, view the top business news stories on Sept. 19 here:

Euromoney Egypt 2016 conference kicks off Monday

The two-day Euromoney Egypt 2016 conference kicked off on Monday, tackling the challenges against Egypt’s economy.

The conference will discuss Egypt’s 12 billion loan from the International Monetary Fund (IMF), according to the official website of the Euromoney.

 

Egypt in talks to obtain $2 bln in financing from China

(Reuters) Egypt is in talks with China to obtain $2 billion in financing, Deputy Finance Minister Ahmed Kojak said, without giving further details.

“All the details are with the central bank,” he said.

Egypt has reached a staff level agreement for a $12 billion loan program from the International Monetary Fund and must secure around $6 billion in bilateral financing to obtain approval for the program.

Christopher Garnett, Director of the Euromoney Conferences, said that signing the deal betweeb Egypt and the IMF is a transitional step for the Egyptian economy.

 

Egypt talks to receive 1.5 bln loan from WB AFDB

International Cooperation Minister Sahar Nasr announced that Egypt is negotiating to get 1.5 billion in soft laon from the World Bank and the The African Development Bank.

Nasr’s statement came during her speech at the Euromoeny conference in Cairo. She noted this amount of money is the second installment from the two banks.

 

Egypt’s Minister of Finance heads to UAE to promote new investments in Egypt

Egypt’s Minister of Finance, Amr Garhi, announced that he would travel to the United Arab Emirates Monday to interview a number of investors and officials in order to promote investment opportunities in Egypt, and display positive developments witnessed by the Egyptian economy, state-owned news agency MENA reported.

 

EGX indexes go up at opening session in Monday trading

The Egyptian Exchange (EGX) indexes went up at opening session of Monday’s trading, data from the EGX showed.

The main index, EGX30 increased 0.32 percent, while mid- and small-cap index EGX70 up by 0.28 percent.

 

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