26 April - 2 May 2001
Issue No.531
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Al-Ahram Weekly On-line 26 April - 2 May 2001 Issue No.531 |
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CBE's rate slashes
THE BOARD of directors of the Central Bank of Egypt (CBE) has decided to further reduce the bank's lending and discount rate to 11.0 per cent as of today, 26 April 2001.On 12 April, the CBE had cut the rate by a half percentage point from 12.0 to 11.5 per cent -- a move made effective on 17 April 2001.
UK high-tech
ON 2 TO 3 MAY, Ahmed Nazif, minister of communications and IT, and Graham Boyce, the British ambassador to Egypt, will inaugurate the UK-Egypt Partnership Initiative event, organised by the British Embassy and Trade Partners UK.The event, which will be held at the Semiramis Intercontinental Hotel, will host representatives of top UK companies and universities who will be giving presentations on state-of-the-art communications technology in the UK. This will provide an opportunity for Egyptian businessmen to hold one-on-one discussions with UK experts, said a press release issued by the embassy.
Building on old ties
A TURKISH businessmen's delegation is scheduled to arrive in Cairo tomorrow on a four-day visit to explore trade and investment opportunities. According to Oktay Aytug, president of ANT, an international management consultant company, and member of the Turkish Chamber of Industry, the mission's aim is to boost economic cooperation between Egypt and Turkey -- two countries that are "historically tied."The mission will include representatives from various industries, such as automotives, textiles, tourism, chemicals and information technology.
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