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Nasr: Investment banks to expand their investments in Egypt

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Nasr’s visit to US continues, and economical meeting also. Minister of Investment and International Cooperation Sahar Nasr participated in a meeting held by Hermes Group in New York, where she met with representatives from investment banks. Nasr told to international investment group, the hard work of her government to improve investment climate in Egypt. She added that Egypt has made some serious reforms in order to attract foreign investments, which improved the economic environment and the economy’s main indicators. The government adopted a reform programme that focuses on raising the rate of growth and creating jobs.

A certain number of companies and individuals’ bank accounts have been frozen by Libya’s Audit Boureau

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Libya’s Audit Bureau announced yesterday that it has frozen the bank accounts of a number of companies and individuals. It did not state how many nor did it name the companies or individuals. In the short report scant of details, the state financial watchdog said the concerned accounts were being frozen for ‘‘causing harm to public funds and the national economy’’ due to being implicated in ‘‘foreign currency smuggling and forged document’’. The Audit Bureau ordered all Libyan banks to refrain from opening any bank accounts for the concerned parties without its prior permission. The watchdog also froze the accounts of an unnamed company accused specifically of smuggling 9 million Euros. It ordered that the bank accounts of this company are to remain frozen until it refunded the amount in Euros into the Central Bank of Libya’s (CBL) account.

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