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Banks financed foreign trade operations worth $70.8bn from pound floatation to 14 December 2017: CBE

The total volume of foreign trade operations implemented by banks working in the local market, during the period extending from 3 November 2016 until 14 December 2017, reached $70.8bn, according to the Central Bank of Egypt (CBE). Importation operations financed by the banks since floatation up until now included basic and non-basic commodities. Production materials …

Hossam Mounir

Deficit in trade balance down by 13.1% in July: CAPMAS

The deficit in the trade balance dropped by 13.1% in July to EGP 30.9bn, compared to EGP 35.6bn in July 2015, according to the Central Agency for Public Mobilization and Statistics’ (CAPMAS) monthly bulletin of foreign trade statistics. In a statement issued on Wednesday, CAPMAS noted that the deceleration happened because the value of exports …

Hisham Salah

New holding company for mining industries approved

Minister of Industry and Foreign Trade Hatem Saleh approved the establishment of a mining holding company at the opening ceremony of the National Vision for Mining Wealth Conference held Tuesday. According to government officials, the move toward establishing a holding company for mining is proposed to boost investment in Egypt’s mining sector and expand mining …

Islam Serour

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