Business News Wrap-up

Egypt’s key sectors see improved performance in 2017: OBG

The improved performance of Egypt’s main sectors accompanied with a tighter fiscal policy drove an economic rebound in 2017, Oxford Business Group (OBG) said in a report Friday. The report said that Egypt’s economy maintained an upward trajectory in fiscal year 2016/17, registering 4.2 percent growth.

Gov’t approves setting up investment zone east of Cairo

The government issued a decree on Saturday to establish a specialized investment zone spanning an area of 123,000 meters on the Cairo-Suez road.

Egypt participates for 1st time in CES in Las Vegas

A delegation from the Digital Economy and Technology General Division, affiliated with the Federation of Egyptian Chambers of Commerce (FEDCOC), will participate for the first time in the CES conference that will kick off Tuesday in Las Vegas, a statement from the division said Saturday.

Saudi king orders new allowances to offset rising cost of living

Saudi Arabia's King Salman on Saturday ordered a monthly payment of 1,000 riyals ($267) to state employees over the next year in compensation for rising cost of living after the government hiked domestic gas prices and introduced value-added tax (VAT).

U.S.-Korea trade talks pit pickup trucks against nuclear threat

The United States and South Korea on Friday completed the first round of review talks on a bilateral trade deal with Washington saying there was “much work to do” to reach a new pact.

U.S. company plans funds that double bitcoin price moves

U.S. fund managers are ramping up efforts to tap into the fever surrounding digital assets, and the latest planned bitcoin products could deliver some head-turning and stomach-churning price movements if they come to market.