{"id":664383,"date":"2025-04-29T00:00:00","date_gmt":"2025-04-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/29\/b-laban-gets-the-green-light-to-re-open-some-of-its-stores\/"},"modified":"2025-04-29T00:00:00","modified_gmt":"2025-04-29T00:00:00","slug":"b-laban-gets-the-green-light-to-re-open-some-of-its-stores","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/29\/b-laban-gets-the-green-light-to-re-open-some-of-its-stores\/","title":{"rendered":"B Laban gets the green light to re-open some of its stores"},"content":{"rendered":"

Good morning, <\/strong>all. <\/strong>We often hear of big ticket investments in the works, but less often do we hear of the projects actually being followed through to completion. China\u2019s Xin Feng, however, has put its money where its mouth is \u2014 and kicked off construction yesterday on a USD 1.7 bn industrial complex. <\/p>\n

Also in this morning\u2019s issue<\/strong> is a USD 10 bn TMG development reportedly in the pipeline in Iraq, USD 300 mn in budget support from the AIIB, fresh sukuk issuance news, and more.<\/p>\n

BUT FIRST- <\/strong>As some of you may have noticed, yesterday\u2019s issue was out on email later than usual yesterday due to a technical hiccup. We apologize to our readers for this error. We\u2019ve got our tech back in order and will be back to our normal publishing schedule at 6am Cairo local time. <\/p>\n

PSA- <\/p>\n

Tomorrow is the last day for<\/strong> businesses to file their 2024 tax returns<\/strong>, with the deadline set for 30 April, the Egyptian Tax Authority said in a statement. <\/p>\n

WEATHER- It\u2019s another warm and partly cloudy day in Cairo<\/strong>, with a high of 29\u00b0C and a low of 22\u00b0C, according to our favorite weather app.<\/p>\n

It might be worth keeping an umbrella handy if you\u2019re in Alexandria<\/strong>, with a chance of light rain, a high of 23\u00b0C, and a low of 12\u00b0C.<\/p>\n

** DID YOU KNOW that we now cover <\/strong>Saudi Arabia<\/a><\/strong> and the <\/strong>UAE<\/a><\/strong>?<\/strong><\/p>\n

** Were you forwarded this email?<\/strong> Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p>\n

WATCH THIS SPACE-<\/p>\n

<\/a> #1- B Laban is back in business<\/strong>, with a sizable number of the dessert chain\u2019s branches given the green light from the National Food Safety Authority (NFSA) to open up shop again, according to an authority statement<\/a>. Among the reopened locations are 15 B Laban branches in Cairo and five in Alexandria, all of which cleared food safety and health compliance requirements in a re-inspection after their initial closing. Several branches under other brands \u2014 such as Whammy, 3m Shaltat, Kunafa w Basbousa, and Karam El Sham \u2014 have also been cleared to reopen after meeting corrective standards. <\/p>\n

Production also resumed at B Laban\u2019s factories<\/strong> in Kafr El Dawwar and Abis, and Karam El Sham\u2019s factory in Borg El Arab following inspections during their trial operations. Factories still under review have been given a one-month grace period to finish implementing full health, food safety, and environmental standards, Industry Minister Kamel El Wazir said in a statement<\/a>. The move was intended to keep production going and retain the affected workers, according to El Wazir.<\/p>\n

REMEMBER-<\/strong> B Laban\u2019s 110 stores and its affiliated brands were shuttered<\/a> across the country earlier this month, following inspections by the NFSA uncovered food safety violations including the use of prohibited substances, expired products, and poor sanitation in several facilities. The Health Ministry also cited unlicensed outlets and staff without valid health certifications.<\/p>\n

\n

\n

<\/a> #2-<\/strong> Kuwait\u2019s Bu<\/strong>khamseen Holding <\/strong>plans to invest between EGP 30-40 bn in <\/strong>Egypt over the coming two years<\/strong>, Asharq Business<\/a> reports. The investment ticket \u2014 currently equivalent to USD 590.0-786.6 mn at today\u2019s exchange rate \u2014 will go toward several sectors, with a focus on hospitality.<\/p>\n

Negotiations are already underway for some of the projects<\/strong>, including talks with the government to invest in a hotel, hotel apartments, and commercial project \u2014 with details to be announced once the plans are finalized. Bukhamseen has also already begun the development of some plots with the Sovereign Fund of Egypt and in cooperation with a group of companies \u2014 including the Saudi Binladin Group.<\/p>\n

This isn\u2019t the first big ticket-investment plan we\u2019ve heard from <\/strong>Bukhamseen<\/strong>, which was reportedly eyeing one of Egypt\u2019s largest tourism and hospitality investment companies in a USD 4.9 bn transaction, according to local media reports<\/a> in February. The acquisition of the still unnamed company would mark one of the largest transactions in Egypt\u2019s tourism industry.<\/p>\n

\n

FROM THE DEBT MARKETS-<\/p>\n

<\/a> The <\/strong>centr<\/strong>al <\/strong>bank sold USD 984.9 mn in one-year USD-denominated t-bills <\/strong>yesterday<\/strong> at an average yield of 4.25%, surpassing its USD 950.0 mn target, according to data on its website<\/a>. The issuance will go toward refinancing an outstanding debt worth USD 950 mn.<\/p>\n

\n

HAPPENING TOMORROW-<\/p>\n

The deadline for the Australian government\u2019s master\u2019s scholarship program Australia <\/strong>Awards is fast approaching<\/strong>, with the application window coming to a close tomorrow. The scholarship program grants funding for citizens of certain African nations \u2014 including Egypt \u2014 to study climate change, agriculture and food security, mining and energy, foreign policy and international security, and gender, disability, and social inclusion. You can <\/a>find out more about the program here (pdf)<\/a> and <\/a>apply through the Australia Awards website<\/a>.<\/p>\n

\n

DATA POINT-<\/p>\n

Egypt\u2019s non-oil trade deficit narrowed by 27.7% y-o-y in 1Q 2025 to USD 6.3 bn<\/strong>, according to a government document seen by Asharq Business<\/a>. This was supported by a 27% y-o-y rise in non-oil merchandise exports, reaching USD 12.7 bn, up from USD 10.0 bn.<\/p>\n

Arab countries accounted for around 48% of Egypt\u2019s exports in 1Q 2025<\/strong>, equivalent to USD 6 bn, followed by the European Union at 22% at USD 2.7 bn.<\/p>\n

\n
\n
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Get Enterprise<\/b> daily <\/h4>\n<\/p><\/div>\n

The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

Subscribe here<\/a> <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n

THE BIG STORY ABROAD- <\/p>\n

It\u2019s a busy day in the foreign press this morning<\/strong> as Canadian voters look on track to allow Mark Carney\u2019s Liberals to form a new government, a mysterious power outage hits Spain and Portugal, and US President Donald Trump moves to alleviate some of the pressure of tariffs on automakers. <\/p>\n

Former central bank governor and incumbent prime minister Mark Carney is projected to form a new government <\/strong>after one of the most consequential elections in Canadian history, as the country faces uncertainty from Trump\u2019s tariffs and threats of annexation. The question: Will it be a minority or majority government? <\/strong>Either way, it would be the Liberals\u2019 fourth consecutive term in office, a political turnaround that was unthinkable just a few months ago when former Prime Minister Justin Trudeau led the party. (Bloomberg<\/a> | Reuters<\/a> | BBC<\/a> | AP<\/a>) <\/p>\n

In the latest tariff-related news<\/strong>, Trump has eased some of the levies on auto parts for domestically manufactured cars, and prevented duties on foreign-made cars from stacking on top of other tariffs like those on steel and aluminum. (WSJ<\/a>) <\/p>\n

Across the pond, Spain declared a state of emergency after a power outage across the Iberian peninsula left tens of mns without power for hours.<\/strong> Half of the country has seen power restored, with Spanish Prime Minister Pedro S\u00e1nchez saying he aims to restore power across the country today. There is no clear cause for the outage, though Portugal has blamed it on extreme temperature variations. (FT<\/a> | Guardian<\/a> | Reuters<\/a>) <\/p>\n

<\/p>\n

*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p>\n

In today\u2019s issue: <\/strong>We take a look at how the government is looking to capitalize on agricultural waste with biofuels, animal feed, fertilizers \u2014 and why this makes not just economic, but environmental sense too.<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, all. We often hear of big ticket investments in the works, but less often do we hear of the projects actually being followed through to completion. China\u2019s Xin Feng, however, has put its money where its mouth is \u2014 and kicked off construction yesterday on a USD 1.7 bn industrial complex. 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