Egypt’s business digest Sept. 25: CFLD offers $20 bn investments in Egypt over 10 years- Presidential Office
President Abdel Fatah al-Sisi chairs a meeting between Egyptian officials and chairperson of the China Fortune Land Development Co., Ltd. (CFLD) Zhao Hongjing on Saturday, Sept. 24, 2016- Photo courtesy of Egyptian Presidential office.

CAIRO: No more browsing from site to site, view the top business news stories on Sept. 25 here:

CFLD offers $20 bn investments in Egypt over 10 years: Presidential Office

President Abdel Fatah al-Sisi met with chairperson of the China Fortune Land Development Co., Ltd. (CFLD) Zhao Hongjing in the Egyptian Presidential Palace on Saturday, said Presidential Spokesperson Alaa Youssef in a statement.

The CFLD is willing to invest a total of $20 billion over the coming ten years in Egypt, the statement quoted Hongjing, who added that his company aims to build the second phase of Egypt’s Administrative Capital.

Hongjing tackled the company’s plan for the administrative capital, which could include building of a smart village, an industrial eco-friendly zone for the advanced technology, housing city,  roads, facilities and other public services.


Egypt hosts 2016Projex Africa on Dec. 10-13

The Egyptian Exporters Association (Expolink) chairperson Khaled al Meqati announced Sunday that the association will organize the Future Building and Construction Trade Fair (Projex Africa 2016), which is due to be held in Cairo International Convention Centre on December 10-13, Youm7 reported.

The exhibition will host 100 international senior buyers in Africa and the Middle East, he added, noting that an international conference will be held on the sidelines of the fair.


Ministry of Finance auctions 11.5 bl EGP in T-bills Sunday

The Ministry of finance, via the Central Bank of Egypt, will borrow a total of 11.5 billion EGP ($1.2 billion) in treasury bills (T-bills) on Sunday, Youm7 reported.

The auction is divided into two installments; the CBE auctioned 5.5 billion EGP in 266-day-term bills, and 6 billion EGP in 91-day-term bills.


USD exchange rate ‘stable,’ reaches 8.88 EGP

The USD exchange rate has been stable against the Egyptian Pound, where it reached Saturday 8.88 EGP for sale and 8.85 for purchase. Euro exchange rate reached 9.95 EGP for purchase and 9.98 EGP for sale.


SCA may re-reduce transit fees on bulk, RORO vessels

The Suez Canal Authority studies to re-reduce the transit fees on bulk carriers and roll-on/roll-off  ships, Almal newspaper reported the SCA’s planning department director Nagy Amin on Sunday.

He added that the authority has previously conducted a decrease in transit fees for a total of 44 vessels crossed the canal since June 2016.


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