Business news wrap-up

S&P sees Egypt's economic growth beating estimates: Interview

S&P Egypt analyst NourredineLafhel speaks to Business Today Egypt about the agency’s outlook on the local economy and why they support the government’s fiscal policy.

Disputed ‘Industrial Product Preference’ law still inactive

Although law no. 5 for the year 2015, namely the regulation of ‘Egyptian Industrial Product Preference’ in governmental contracts.

EGX ends week in red, turnover loses LE 5M

Market capitalization lost 2 percent and reached LE 698 billion in comparison with the previous week.

Oil nudges higher on tightening supplies, weak dollar

Oil prices edged higher on Friday, with investors offered some encouragement from data hinting that oversupply was easing steadily and a weaker dollar.

Egyptian exports to Africa boosted on presidential visits

Egyptian exports to African markets have rebounded to normal levels in the previous fiscal year, according to the data of Central Bank of Egypt.

Gold prices rise for a third day, buoyed by geopolitical worries

Gold rose for a third day on Friday amid weaker Asian stocks, with some investors gravitating towards safe-haven assets on political uncertainty in the United States.

41 industrial projects approved in July at LE 900M

June witnessed 22 approved industrial projects with an investment cost amounting to LE 1 billion and will offer 1,505 jobs.

Sterling set for third weekly loss vs. euro as outlook darkens

Britain's pound fell against the euro on Friday and was poised for a third consecutive week of losses as a global selloff in risky assets prompted investors.

Egypt's economic structure becomes more sustainable: CBE

The Central Bank of Egypt's (CBE) Monetary Policy Committee decided to keep interest rates on hold.

U.S. pharmaceutical firms to extend investments in Egypt

The U.S. Chamber of Commerce expressed its support for the expansions of the U.S. firms in Egypt.

Sukari gold mine yields to Egypt amount to $200M by August

Around $100 million of the yields are the mine's profits since the beginning of the profit distribution between the company and the Egyptian Mineral Resources Authority (EMRA).

SMEs portfolio at NBE hit LE 32B end of June

The volume of the loan portfolio of NBE hiked to LE 400 billion ($22.5 billion) by the end of the fiscal year 2016/2017.