THE CENTRAL BANK CLARIFIES THE ALLEGATIONS RISEN FOR ISSUING NEW BANK NOTES;

According to Dr. Ezz El-Din Hassanein, banking expert and general manager of a bank operating in the domestic market, the central bank of Egypt (CBE) has been forced to issue new banknotes every month due to the economic crisis that Egypt go through. Along with the annual increase of salaries, pensions, and compensations, in addition to the repayment of the domestic debt’s benefits. In response to that (CBE) said, in a statement, printing and issuing cash is done in accordance to regulations and the bank’s full commitment to economic and legal measures.

Copyright; Daily News.

 

ON THE WAY TO INDUSTRIAL DEVELOPMENT, MEETINGS WITH MAJOR CHINESE COMPANIES;

In a meeting with Tarek Kabil, Minister of Industry and Foreign Trade, Dalia Khorshid, Minister of Investment, and Zhao Hongjing, the Vice President of China Fortune Land Development a major industrial developer in China.
The latter expressed his welcoming to study an offer of establishing industrial city on 30m sqm that would include residential buildings, schools, and services along with an industrial zone. In the terms of the New Administrative Capital, the ministers discussed with China Construction, a major construction and infrastructure company, the possibility of launching new projects and building new administrative government buildings in the New Administrative Capital.

Copyright; Daily News.

 

THE GOVERNMENT REFUSES TO CUT THE GAS PRICES;

Mohamed El Sewedy, the head of the Federation of Egyptian Industries, In an interview with Al-Ahram assured that the federation (FEI) did not receive any response from the government to the request of the manufacturers to reduce the gas prices. The manufactures demanded to reduce the price from USD 7 per mmBtu to USD 4.5 per mmBtu which would decrease the budget deficit and push the stopped factories to back to work.

Copyright; Al-Ahram Gate.

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