Capital of first Egyptian - British company worth 500 million pounds

The Egyptian - British works' council approved the establishment of the first bilateral holding company for investment with a capital of 500 million pounds, where the capital is equally distributed among the two countries' businessmen.

The executive director of British - Egyptian business assembly, ambassador Ihab Serour, said that the company aims at increasing the volume of trade exchange between the two countries to $2 billion by the beginning of 2001 and to assist the British investments to occupy the first position in Egypt, instead of US investments during the coming years.

Meanwhile, the Lord Mayor of London, Lord Peter Levene, is going to pay a three-day visit, heading a delegation comprises of 30 businessmen in fields of banking and insurance to promote these services in Egypt, especially as Britain is considered one of the advanced countries in these fields.