{"id":581776,"date":"2023-02-23T00:00:00","date_gmt":"2023-02-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/23\/govt-to-offer-guaranteed-prices-for-farmers-plus-news-from-qatari-diar\/"},"modified":"2023-02-23T00:00:00","modified_gmt":"2023-02-23T00:00:00","slug":"govt-to-offer-guaranteed-prices-for-farmers-plus-news-from-qatari-diar","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/23\/govt-to-offer-guaranteed-prices-for-farmers-plus-news-from-qatari-diar\/","title":{"rendered":"Gov\u2019t to offer guaranteed prices for farmers. PLUS: News from Qatari Diar."},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">COMMODITIES-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Farmers to sell corn, soy and sunflower to gov\u2019t at guaranteed prices:<\/span><span style=\"\"> Ministers <\/span><span>approved yesterday setting price floors for corn, soybean and sunflower crops sold by farmers to the government, cabinet said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3Z9QvAk\" style=\"\">a statement<\/a><\/span><span style=\"font-weight:400;\">. Following the decision, GASC will purchase soybeans at a minimum price of EGP 18k per ton and sunflower crops for EGP 15k per ton. Farmers will receive a guaranteed price on white and yellow corn of EGP 9k and 9.5k per ton respectively. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The thinking:<\/span><span style=\"font-weight:400;\"> The move aims to encourage farmers to increase production and lower the country\u2019s import bill, Prime Minister Moustafa Madbouly said. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">It\u2019s a win-win for farmers<\/span><span>: The government could pay more to farmers if the price of crops at the Egyptian Mercantile Exchange (EMX) at the time of harvest and crop delivery is higher than the set guaranteed price, Madbouly said. The state would still commit to paying the set guaranteed price to farmers even if the price of crops at the EMX is lower at the time of harvest, he added. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DEBT-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">A fresh loan for Qatari Diar subsidiary:<\/span><span style=\"\"> Qatari Diar subsidiary East Gate <\/span><span>Developments will get a EGP 2 bn syndicated medium term-facility from the National Bank of Egypt (NBE), Banque Misr, and QNB Alahli to fund part of the construction of the first phase of its City Gate development in East Cairo, the syndicate said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/CityGate-Loan.pdf\" style=\"\">a joint statement (pdf)<\/a><\/span><span> yesterday. <\/span><span>The facility comes <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/13\/three-global-firms-reportedly-eyeing-contract-for-metro-line-1-upgrades-96651\/\" style=\"\">nearly two weeks<\/a><\/span><span> after the company recruited Consolidated Contractors Company to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/13\/three-global-firms-reportedly-eyeing-contract-for-metro-line-1-upgrades-96651\/\" style=\"\">construct a new EGP 1.75 bn phase<\/a><\/span><span style=\"font-weight:400;\"> of the project. The residential project will be valued at over USD 12 bn once complete. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">REMEMBER- <\/span><span>Qatari Diar has until 2031 to finish City Gate per a new deadline reportedly set by the New Urban Communities Authority (NUCA) in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/11\/20\/qatar-diar-has-eight-years-to-finally-finish-its-city-gate-project-in-new-cairo-88142\/\" style=\"\">November<\/a><\/span><span> to compensate the company, after its work had been suspended for years amid a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2020\/07\/26\/egyptian-court-overturns-nuca-decision-to-fine-qatari-diars-east-gate-egp-1-3-bn-19478\/\" style=\"\">legal dispute<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>COMMODITIES- Farmers to sell corn, soy and sunflower to gov\u2019t at guaranteed prices: Ministers approved yesterday setting price floors for corn, soybean and sunflower crops sold by farmers to the government, cabinet said in a statement. Following the decision, GASC will purchase soybeans at a minimum price of EGP 18k per ton and sunflower crops [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":581777,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,317,88,72,2112,83],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-581776","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-commodities","tag-debt-watch","tag-enterpriseam","tag-qatari-diar","tag-real-estate","wpautop","entry"],"acf":{"mongo_id":"8f50842a-09d2-4df4-ba63-d939bcc69c17","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/8\/Egypt-farm-1600px.jpg","photo_position":"below","homepage_title":"","full_issue_title":"","related_issue":[581751],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/2\/.a3e18714-b489-40a0-a713-0f21a87e9db2.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Gov\u2019t to offer guaranteed prices for farmers. 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The company has made no attempts to settle the dispute or engage with the government\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":594136,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/21\/sawiris-ora-in-talks-with-qatari-diar-for-51-stake-in-egypts-citygate\/","url_meta":{"origin":581776,"position":1},"title":"Sawiris\u2019 Ora in talks with Qatari Diar for 51% stake in Egypt\u2019s CityGate","author":"enterpriseam admin","date":"21 October 2019","format":false,"excerpt":"M&A WATCH- Ora Developers in talks with Qatari Diar for 51% stake in CityGate: Naguib Sawiris\u2019 Ora Developers is in \u201cadvanced talks\u201d to acquire a 51% stake in the Qatari Diar-owned company developing the CityGate project in New Cairo for USD 800 mn, unnamed sources said, according to Al Shorouk.\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/2\/2747.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577355,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/20\/qatar-diar-has-eight-years-to-finally-finish-its-city-gate-project-in-new-cairo\/","url_meta":{"origin":581776,"position":2},"title":"Qatar Diar has eight years to finally finish its City Gate project in New Cairo","author":"enterpriseam admin","date":"20 November 2022","format":false,"excerpt":"Qatari Diar has until 2031 to finish City Gate: The New Urban Communities Authority (NUCA) has given Qatari Diar subsidiary East Gate Developments eight years from January 2023 to complete its USD 8 bn City Gate project in East Cairo, Al Shorouk reported yesterday, citing sources familiar with the matter.\u2026","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":582113,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/13\/three-global-firms-reportedly-eyeing-contract-for-metro-line-1-upgrades\/","url_meta":{"origin":581776,"position":3},"title":"Three global firms reportedly eyeing contract for Metro Line 1 upgrades","author":"enterpriseam admin","date":"13 February 2023","format":false,"excerpt":"TRANSPORT- Three international companies have their sights set on developing Metro Line 1: Germany\u2019s Siemens and French firms Alstom and Colas submitted separate offers late last year in a government tender to develop Cairo\u2019s oldest metro line, Al Mal reports, citing sources it says are in the know. Italian consulting\u2026","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/metro-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568907,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/06\/qatari-diar-to-inaugurate-egypts-st-regis-cairo-in-1h2020\/","url_meta":{"origin":581776,"position":4},"title":"Qatari Diar to inaugurate Egypt\u2019s St. Regis Cairo in 1H2020","author":"enterpriseam admin","date":"6 February 2020","format":false,"excerpt":"Qatari Diar is planning to inaugurate its St. Regis Cairo Hotel on the Nile Corniche in the first half of the year after obtaining a license to get the facility up and running, sources told the press. The hotel was slated for inauguration as early as March 2018, but delays\u2026","rel":"","context":"In &quot;Tourism&quot;","block_context":{"text":"Tourism","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/tourism\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":567151,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/14\/qatari-diar-offers-olive-branch-to-litigious-city-gate-clients\/","url_meta":{"origin":581776,"position":5},"title":"Qatari Diar offers olive branch to litigious City Gate clients","author":"enterpriseam admin","date":"14 January 2020","format":false,"excerpt":"Qatari Diar offers City Gate customers quid pro quo: Qatari Diar has offered amended contract terms to clients of its City Gate project in exchange for them dropping lawsuits against the company, according to Al Shorouk. 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