Egyptian currency_Reuters
Egypt will launch two international bid rounds for oil and gas exploration in 2018, the petroleum ministry said in a statement on Monday.
Egypt has reached a total of $195.1 million on profit account from the Sukari Gold Mine since the start of dividing profits between Centamin Egypt Company and the Egyptian Mineral Resource Authority (EMRA) in October 2016 till April 2018, General Manager of Centamin Company Youssef el-Raghy said.
The government in Egypt is keen on upgrading the system of cotton cultivation and textile industry to better meet demands of the local market and enhance exports, Trade and Industry Minister Tarek Kabil said Monday.
Egypt’s industrial production (without crude oil and petroleum products) increased 7.2 percent during the third quarter of 2017, recording LE 145.3 billion ($8.14 billion), compared to LE 135.5 billion in the same quarter of 2016, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).
The Egyptian Exchange’s (EGX) indices marked a semi-collective rise by the end of Monday’s session, and market capitalization gained LE 6.4 billion ($358.55 million) amid Egyptian purchases.
Preparatory meetings of 11th session of the Egyptian-Russian ministerial committee kicked off in the Russian capital Moscow on Monday under Minister of Trade and Industry Tarek Kabil and his Russian counterpart Denis Valentinovich Manturo.
Misr Insurance Company (MIC) and Misr Life Insurance Company (MLIC) will have part of their shares listed on the Egyptian Exchange (EGX).
Telecom Egypt (TE) announced that its subsidiary Egyptian International Submarine Cables Company (EISCC) signed an agreement with Orascom Telecom Media and Technology Holding S.A.E (OTMT) to buy its shareholding of its subsidiary Middle East and North Africa Submarine Cable (MENA) for $90 million.
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