Business news wrap-up

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Mon, 11 Sep 2017 - 03:44 GMT

BY

Mon, 11 Sep 2017 - 03:44 GMT

Money - Creative Commons via Flicker- Emi Moria

Money - Creative Commons via Flicker- Emi Moria

Saudi Aramco talks about new projects with Egypt



Aramco is targeting exploiting excessive capacity at Egyptian refineries to refine Saudi crude.

Egypt's stock exchange to reduce trading halt time to 15 mins



Egypt’s financial regulator has approved the stock exchange’s decision to reduce trading halt times to 15 minutes.

High-speed 4G mobile internet to come into effect in Egypt this month


Egypt’s telecoms operators will begin offering high-speed 4G mobile broadband services in September.

Mamish tours Hamburg city harbor at onset of Germany visit


Mohab Mamish has made a tour of Hamburg city harbor, which is the second busiest port in Europe (after Rotterdam) and the 15th largest worldwide.

Housing Ministry, Palm Hills sign LE 150M contract for new project



The government’s share in the project will be 26 percent, where it will acquire LE 25 billion from the project sales and 420,000 square meters of buildings.

GE declares financial closure of $250M substations in Egypt


The agreement was signed between both parties in July 2016, involving developing the substations in New Cairo, Beni Suef, Dakahlia and Ismailia.


Egypt's exports to UAE hit $1.2B in 1H of 2017



The advance achieved by the Egyptian exports contributed to increasing the trade balance between the two countries to $735 million.


EGX ends high for 3rd session in a row, benchmark adds 0.58%



Market capitalization gained LE 4.75 billion ($269 million) to reach LE 712.25 billion compared to LE 707.5 billion on Sunday.


U.S. dollar exchange rate slightly goes up Monday


It recorded LE 17.61 for buying and LE 17.71 for selling.

Yields fall on Egypt's 5-, 10-year T-bonds



The five-year yield fell to 16.150 percent, while en-year yield fell to 16.150 percent.

Oil edges up as Saudis discuss extending supply cut



Oil prices edged lower on Monday on concerns that Hurricane Irma's pounding of heavily populated areas of Florida could dent oil demand.

Mercedes-Benz to offer electric option for every car by 2022



Daimler’s Chief Executive Dieter Zetsche on Monday said Mercedes-Benz will offer electric versions of all its models by 2022.

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