Business news wrap-up

EGX ranks first globally after benchmark leaps 200%: Omran

Morgan Stanley Price Index (MSCI) ranked EGX first globally regarding institutional performance after EGX30 leapt 200 percent in four years.

EGX to offer first state-owned IPO in Q1 2018

EGX will take a decision regarding stock market listing of state-owned companies and banks in the first quarter of 2018.


EGX Chairman Mohamed Omran - File Photo

Egypt sets customs dollars at LE 16.25 in August

The custom exchange rate is 8 percent less than the normal exchange rate.

Egypt to receive more crude from Iraq this week

Egypt received to date three Iraqi crude shipments with a total volume of six million barrels.


Houston Fuel Oil Terminal- Roy Luck via Flicker

Arab Contractors, Afreximbank sign $200M credit facility agreement

The Arab Contractors Co. and African Export–Import Bank have signed a credit facility agreement

EGX ends in red, hurt by foreign sales

The Egyptian Exchange (EGX) ended Sunday’s session on a negative performance, weighted by foreign sales.

Yields fall on Egypt's 3-, 9-month T-bills amid foreign buying

Average yields on Egypt's three-month and nine-month treasury bills fell at an auction on Sunday.

Egypt selected for World Bank financial inclusion initiative

Egypt has the ability to bring 44 million citizens to the formal financial sector, according to analyses conducted by the World Bank.


World Bank building- AgnosticPreachersKid via Wikimedia Commons.

Sanctions slashed Qatar imports in June, non-gas exports affected

Sanctions imposed by three other Gulf states and Egypt slashed Qatar's imports by more than a third in June.

U.S. dollar stable in Sunday transactions

The highest exchange rate is recorded at the Abu Dhabi Islamic Bank at LE 17.88 for buying and LE 17.98 for selling.

EFSA issues over 2,300 approvals in 6 months

The approvals valued LE 43.5 billion in capital, where LE 21.5 billion of them is issued capital, recording 35 percent year-on-year increase.


Sherif Sami, Chairman of Egyptian Financial Supervisory Authority (EFSA) - File Photo

LE5M loans for environment studies

The studies will prioritize rationalizing energy consumption and increasing investing in renewable energy projects.