Business News Wrap-up

Agreement to connect Cyprus’ Aphrodite gas field with Egypt to be signed soon

Egypt will sign an agreement with Cyprus to connect Aphrodite gas field to Egypt during the coming few weeks, Petroleum Minister Tarek el-Molla said on Sunday.

2nd phase of Zohr gas field to be completed before year-end

The second phase of Egypt’s giant Zohr gas field will be completed before year-end and will add around two billion cubic feet per day to production, Petroleum Minister Tarek el-Molla said on Sunday.

Egypt to offer all state services electronically by 2019: Min.

Minister of Communications Yasser el-Kady said that the state will offer all services electronically by 2019, saying that his ministry is working with all entities and ministries to ensure the completion of the process.

Individuals, corporate assets in banks reach LE 5T: Amer

Individual and corporate assets in Egypt’s banks amount to LE 5 trillion, Governor of the Central Bank of Egypt (CBE) Tarek Amer said on Sunday.

Sisi praises social protection system, aspires for more ‘Aman’ issuance

President Abdel Fatah al-Sisi said on Sunday that he was “delighted” with the implementation of a comprehensive social protection system that covers the poor and the needy.

Egypt among states benefiting from increase of WB capital

Minister of Investment and International Cooperation Sahar Nasr asserted that Egypt will be among the countries benefiting from any increase in the capital of the World Bank (WB).

Egypt keeps custom dollars at LE 16 in May

Egypt kept the customs dollars at its current rate of LE 16 to the dollar for the month of May, the Ministry of Finance said in a statement Sunday.