Women work on a production line at the mobile phone factory in Assuit, Egypt. Reuters
Egypt’s non-oil private sector economy saw renewed growth in April, according to latest PMI data. Output expanded for the first time in nearly one-and-a-half years and new business increased at a faster rate. Input purchasing and job numbers also rose, while business sentiment towards the year-ahead outlook for activity strengthened.
Egypt’s communications ministry will begin work on a 40 billion Egyptian pound ($2.44 billion) telecommunications network in the first phase of a new capital city being built east of Cairo, a cabinet statement said.
Business sentiment around future activity soared to the highest in one-and-a-half years in August, as more Egyptian firms expressed optimism for growth.
Markets rose last week after unexpectedly strong U.S. jobs data despite some American states reporting record new coronavirus infections.
The San Francisco-based rideshare giant has been badly affected by the coronavirus pandemic -- cutting a quarter of its global workforce in May -- and has been looking to boost its growing food delivery service Uber Eats.
Sharjah Asset Management (SAM), the investment arm of the Sharjah government, has announced the launch of a new company through its partnership with the largest engineering consulting firm in Malaysia (CHSS).
The Dubai Financial Market (DFM) on Sunday announced that it is reopening its Trading Floor and Customer Affairs counters for investors as of Tuesday, July 7, 2020, with the strict implementation of precautionary measures for the safety of clients and employees.