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Egypt’s production of raw sugar is expected to grow 7% y-o-y to 2.42 mn tonnes in marketing year 2017-18, according to US Department of Agriculture’s Foreign Agricultural Services’ Global Agricultural Information Network 2017 report. The increase is driven by the a wider area under cultivation with sugarcane and beets. The government is paying farmers higher […]
Author Archives: enterpriseam admin
Posted inBasic Materials + Commodities
Egypt purchased 1.7 mn tonnes of wheat from farmers since mid-April
The government bought 1.7 mn tonnes of wheat from local farmers since the beginning of the domestic harvest season in mid-April, the Supply Ministry said, according to Reuters. The ministry expects to buy 3.8 mn tonnes of wheat from local farmers this season.
Posted inBasic Materials + Commodities
Supply Ministry raises prices of imported meat, poultry
The Supply Ministry raised the prices of imported meat and local and imported poultry days ahead of Ramadan, Al Borsa reports. Prices of fresh Sudanese meat increased EGP 5 to EGP 80 per kg, while frozen Brazilian meat will now be sold at EGP 69 per kg, up from EGP 48. Local and imported poultry […]
Posted inReal Estate + Housing
SECON purchases 70 feddans in New Administrative Capital
The Saudi Egyptian Construction Company (SECON) purchased 70 feddans in the New Administrative Capital, Al Ahram reports. SECON CEO Darwish Hassanein said the company will use the land to develop residential, commercial and office space.
Posted inTourism
Hajj prices spike 80% above last year
Hajj prices have risen by 80% compared to last year on the back of the float of the EGP, the Tourism Ministry says, Ahram Gate reports. A five-star program starts at EGP 100k, a four-star program is EGP 74k, an economy tier starts at EGP 49k, and the cheapest hajj by bus now costs EGP […]
Posted inTourism
AMC to operate direct flights to Armenia from Hurghada, Sharm
Cairo-based charter airline AMC Airlines will operate direct flights between Hurghada and Armenia’s capital, Yerevan, starting 18 June, Public Radio of Armenia reports. The airline will also operate flights between Sharm El Sheikh and Yerevan starting 24 September. Air Cairo Airline will operate weekly Hurghada-Yerevan and Sharm El Sheikh-Yerevan flights between June and October.
Posted inOther Business News of Note
10% hardship raise to be disbursed as part of May’s paycheck
The 10% hardship raise for state employees who do not fall under the Civil Service Act will be disbursed with May salaries; the sum owed will be retroactive to July 2016, a source tells Al Shorouk. We had noted it was slated in a single transaction before Ramadan.
Posted inEgypt Politics + Economics
VAT reels in EGP 130 bn since September
The value-added tax has reeled in EGP 130 bn since coming into effect in September, compared to EGP 96 bn brought in from the sales tax during the same period last year, an unnamed government source tells Al Borsa.
Posted inON YOUR WAY OUT
IFC co-hosts conference to encourage women participation in the economy
The International Finance Corporation (IFC) is working to increase women’s participation in the economy. IFC is hosting a conference to encourage women’s participation in the private sector, with UN Women, the Global Compact Network in Egypt, the Egyptian Institute of Directors, and the National Council for Women, according to a press release. It is part […]
Posted inON YOUR WAY OUT
We are up to 93 mn citizens -CAPMAS
Egyptians crossed the 93 mn citizen mark at 6 PM CLT on Monday, according to the Central Agency for Public Mobilization and Statistics’ (CAPMAS) counter. Egypt’s population growth rates are still among the highest in the world, CAPMAS’ second in command Mohamed Abdel Gelil tells AMAY, claiming that Egyptians are multiplying in number 5x faster […]