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English news

02-Mar-2016

GM issues resolved, resumes production in Egypt

General Motors' issues with FX that caused the one week stoppage of operations in local production have been resolved and production has restarted at GM’s Egypt facility, according to  the Minster of Trade and Industry, Tarek Kabil. The CBE is currently under taking necessary procedures with regards to the FX shortage crisis, that  had negatively impacted the industrial sector, Kabil added. The government implemented solutions for 135  struggling production facilities, 15 of which have effectively resumed operations as of yesterday after investments were channeled and investor issues were handled on  a case by case basis. (Al Ahram)

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