EGX loses LE48.87B of market cap. amid local selling
The Egyptian Exchange (EGX) continued its trading in the red zone during Wednesday’s session, losing around LE 48.97 billion of the market capitalization, amid local selling. The benchmark EGX30 decreased 2.87 percent, or 833.13 points, to end at 28,224.37 points. The small and mid-cap index EGX 70 dipped 2.71 percent, or 181.2 points, to close […]
Saudi ADES Holding signs long-term agreement to invest $66M in Egyptian oil fields
Saudi ADES Holding Company, has signed a long-term agreement to invest $66 million in the oil fields of the Suez Oil Company (SUCO) and the Offshore Shukeir Oil Company Co (OSOCO), both subsidiaries of the Egyptian General Petroleum Corporation. ADES elaborated that it plans to invest USD 30 million (SAR 112.5 million) in SUCO and […]
Egypt inks agreement to establish LE 1.6B silo factory in East Port Said
Egypt’s East Port Said Development and Feerum Egypt signed an agreement to allocate land for the establishment of a grain storage silo factory in East Port Said with investments valued at LE 1.6 billion, according to a cabinet statement on Wednesday. According to the agreement, Feerum Egypt will establish a factory in the industrial zone […]
Egypt continues humanitarian aid airdropping operations into Gaza
These operations come coincided with the takeoff of Egyptian military transport planes and their Emirati counterparts from Al-Arish Airport to carry out air drops of large quantities of food and relief aid to the northern Gaza Strip. This comes based on the pivotal role played by Egypt in mobilizing the efforts of the international community […]
FM displays to U.S. delegation Egypt’s role in maintaining regional security
Minister of Foreign Affairs Sameh Shokry received Wednesday a delegation from the U.S. House Homeland Security Committee headed by Representative August Pfluger. Minister Shokry highlighted Egypt’s efforts in the past years to establish security and stability in the region that faced terrorism, threats to the concept of nation state, prevalence of armed conflicts as […]
President Sisi urges int’l pressure for immediate Gaza ceasefire in meeting with US congressmen
President Abdel Fattah El-Sisi has called upon the international community to fulfill its responsibility in exerting pressure to achieve an immediate and sustainable ceasefire in Gaza. Sisi welcomed a delegation of Republican and Democratic US congressmen on Wednesday, led by Republican Representative August Pfluger, Chairman of the Counterterrorism, Law Enforcement, and Intelligence Subcommittee for the […]
