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Inoperative Customs Authority scanning equipment curtails efficiency of customs clearance (AFP PHOTO)

Customs bottlenecked due to outdated scanning equipment

Minister of Finance Momtaz Al-Saeed, has ordered the formation of two committees, legal and technical, to review contracts with an American company providing X-ray scanning equipment to the Egyptian Custom Authority. He has also requested an expedited submission of reports assessing the functionality, or lack thereof, of such devices. In 1998, the Ministry of Finance …

Hend El-Behary

Egyptian Stock Exchange. (PHOTO BY MOHAMED OMAR)

EGX30 closes above resistance level

The standard stock exchange index, EGX 30, ended Monday’s session above the resistance level of 5,800 points for the first time this month amid expectations of a continuing increase. The index closed Monday at 5,893 points compared to 5,793 points on Sunday, gaining 1.73 per cent, while the EGX70 index for small and medium sized …

Mohamed Salah

Qandil visits Algeria for economic talks

Prime Minister Hesham Qandil arrived yesterday in Algeria for a three-day visit amidst speculative press reports over the visit’s agenda. State-owned Middle East News Agency (MENA) reported the objective of Qandil’s visit to Algeria is to hold talks with the Algerian government over solidifying economic relations and boosting mutual investment. “During his visit to Algeria …

Islam Serour

Electronic signature technology to be applied November

The banks as well as the stock market are ready to implement electronic signature technology, which is to be inaugurated by November, capital market expert, Moustafa Badra, told the Daily News Egypt. An electronic signature can be as simple as a typed name or a digitised image of a handwritten signature; it can facilitate the …

Hend El-Behary