Egypt’s business digest Oct. 11: Egypt, EU sign six agreements on SMEs, infrastructure projects
International Cooperation Minister Sahar Nasr

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Egypt, EU sign six agreements on SMEs, infrastructure projects

Egyptian Minister of International Cooperation Sahar Nasr and EU Commissioner for Neighborhood Policy and Enlargement Negotiations Johannes Hahn signed 6 cooperative agreements worth €129m, according to a statement from the Egyptian Ministry on Monday.

The agreements focus on the small and medium-sized enterprises in Egypt and infrastructure projects; Hahn is paying Egypt a two-day visit during which he seeks enhancing the  bilateral relations.


USD exchange rate ‘stable,’ reaches 8.78 EGP

The USD exchange rate has been stable against the Egyptian Pound, where it reached Tuesday 8.78 EGP for sale and 8.88 for purchase. Euro exchange rate reached 9.93 EGP for purchase and 9.96 EGP for sale.

The Central Bank of Egypt (CBE) pumped a total $120 million to the domestic banks to meet the importers’ need of dollars to get their imported goods.


EGX stops trading of nine companies for 30 munites on Tuesday

Egypt’s Stock Exchange ordered to stop trading on shares of nine companies for 30 minutes after the their shared boomed by more than 5 percent on Tuesday.

The companies include the GMC for industrial commercial financial investments; Advanced Pharmaceutical Packaging Co (APPC); National Real Estate Bank for Development (NRPD); Cairo Development and Investment Co; the Arabian Food Industries Company (Domty); Golden Pyramids Plaza; Egypt for Poultry; Delta Sugar; New Ismailia For Urban Development Company.


508 Dutch companies investing in Egypt: Minister

Number of Dutch companies investing in Egypt reached 508 companies with capitals of $2.715 billion, providing a total of 4,615 job opportunities in sectors of petroleum, chemicals, transport, electronics, and food, stated Egyptian Minister of Investment Dalia Khurshid on Tuesday.

Kurshid met with Dutch ambassador to Cairo Laurens Westhoff and his accompanying delegation to dicuss the ways of enhancing the bilateral relations.

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