Business News Wrap-up

Protocol signed to establish 7 petrol stations in Kafr El-Sheikh

Co-operation petroleum Company and the governorate of Kafr El-Sheikh signed Saturday a cooperation protocol to establish seven new petrol stations, with investments of LE 50 million, a statement from the Petroleum Ministry said.

Banque Du Caire issues Aman Certificates with LE 12M

Banque Du Caire issued Aman Certificates for temporary and casual workers with LE 12 million in three weeks, the bank’s chairman Tarek Fayed said Saturday.

Attijariwafa Bank Egypt achieves highest profit in its history of LE 1.1B

Attijariwafa Bank Egypt achieved net profits of LE 1.1 billion in 2017 for the first time in its history, compared to LE 663 million in 2016, recording a 68 percent increase, a statement from the bank said Saturday.

Tourist nights hike 96.5% YoY in January 2018

Tourist nights increased 96.5 percent year-on-year in January 2018, reaching 8.5 million, compared to 4.3 million in January 2017, a report from the state statistics agency CAPMAS said.

China says ready to defend its interests in U.S. trade spat

The United States has flouted trade rules with an inquiry into intellectual property and China will defend its interests, Vice Premier Liu He told U.S. Treasury Secretary Steven Mnuchin in a telephone call on Saturday, Chinese state media reported.