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Egypt In-Focus — Food security agreement discussed; IPO Market cap down; Solar and wind power expanding
CAIRO: Egypt and Jordan discussed food security ties on Monday, while the Egyptian exchange market experienced some downturns. Also, the Egyptian renewable energy sector is growing as additional projects have been added.
The Egyptian and Jordanian ministers of industry, trade, and supply met on Monday to discuss their agreement regarding food security issues in both countries, reported Egypt Today.
In collaboration with the private sector, they aim to develop their logistics services with one another to ensure food security for both Egypt and Jordan, the Jordanian Ministry of Industry, Trade and Supply said in a statement.
The Egyptian exchange market, known as EGX, closed yesterday’s session with a 1.87 billion Egyptian pound ($98.8 million) loss in market capital.
Foreign organizations seem to be uncertain about their stocks in the EGX, as they sold 224.3 million Egyptian pounds of their stock on Monday.
In contrast, Egyptian and Arab organizations bought 204.5 million Egyptian pounds and 18.55 million Egyptian pounds worth of stocks respectively, reported Egypt Today.
Egypt is the leading Arab country in solar and wind power generation, according to a statement by the Egyptian cabinet.
Additionally, Egypt plans to continue expanding its renewable energy sector, through adding 3.3 Gigawatts of wind and solar power projects, reaching 6.8 GW by 2024, reported Al Ahram.
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