Egyptian steel exports to the EU will be subject to a 11.7% anti-dumping duty

TRADE-

The EU has reduced anti-dumping duties on Egyptian steel to 11.7% from 12.8% previously, according to a general disclosure document (pdf) shared by the commission earlier this month. The document specifically names imports from Ezz Steel — Egypt’s sole exporter of hot-rolled flat steel to the EU. The EU found that Egyptian steel accounted for 2.2-2.7% of the EU’s open steel market during the investigation period — roughly 741k-906k tons.

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REFRESHER- The European Commission last August initiated an anti-dumping investigation into hot-rolled flat products of iron, non-alloy or other alloy steel imports from Egypt, India, Japan, and Vietnam.

ENERGY-

Future cooperation with China’s UEG? The Oil Ministry inked an MoU with China’s United Energy Group (UEG) to explore joint investments across oil, gas, renewables, and energy trading in Egypt and overseas, according to an Oil Ministry statement. The meeting between the two sides also saw UEG express interest in expanding its footprint in Egypt.

NBFS-

PayTabs merchants and consumers can now use Contact Financial’s ContactNow’s BNPL services to finance their purchases, under a new strategic partnership between the two sides, according to a statement(pdf).