Business News Wrap-up

Source : ET

 

IsDB Group allocates $3B to support Egypt’s development projects

The Islamic Development Bank (IsDB) Group has allocated $3 billion over three years for its new cooperation strategy with Egypt (2018-2020), which will support a number of development projects in Egypt, a statement from the Ministry of Investment and International Cooperation said Thursday.

MSMEDA, FEI sign MoU to develop skills of entrepreneurs

The Micro, Small, and Medium Enterprise Development Authority (MSMEDA) and the Federation of Egyptian Industries (FEI) signed a memorandum of understanding (MoU) that aims to develop the skills of entrepreneurs and workers in small- and medium-sized enterprise (SMEs) in all governorates, an official statement said Thursday.

Banks’ participation in financing KIMA 2 project hiked to 61.8%

Banks’ participation in the financing of the state-owned Egyptian Chemical Industries’ KIMA 2 project has been hiked to 61.8 percent, from 51.2 percent, as per a contract that was signed on Wednesday in the presence of Public Enterprise Minister Khaled Badawy.

Orange secures LE 7B loan from consortium of 8 banks

Orange Egypt secured a LE 7 billion loan from a consortium of eight banks that will be paid over seven years.

The loan comes after Orange announced an increase in its paid capital to reach LE 15.3 billion.

EGX celebrates Orphan’s Day, collects donations

The Egyptian Exchange (EGX) has hosted a celebration of the Orphan’s Day in the presence of EGX head Mohamed Farid and Ali Gomaa, Egypt’s former Mufti and Chairman of the Board of Misr el-Kheir Foundation.

Egypt, Morocco eye enhancing economic ties

Cairo and Rabat are looking forward to strengthening economic ties, as both aim to benefit from each country’s successful experiences in different fields.

Source :

egypttoday

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