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UK keens to enhance trade ties with Egypt

CAIRO: Transport Minister Saad el Gioushi met Wednesday the UK Trade Envoy to Egypt Jeffrey Donaldson to discuss ways of boosting bilateral relations. The meeting tackled enhancing trade cooperation and ties with Egypt, as Donaldson briefed Gioushi on the expected visit by a British trade delegation, led by Minister of State for Trade and Investment Lord Maude, to Egypt in ... Read More »

Egypt to slash poultry imports

CAIRO: Egypt will stick with buying its poultry domestically, turning its back completely on international tenders and bowing to pressure from its local producers, traders said. The ministry of supplies said it will sign a protocol with the Egyptian Poultry Association to supply chicken at government cooperatives, just two weeks after holding its first-ever international tender for poultry. Earlier this ... Read More »

Egyptian Central Bank to boost exports, imports

CAIRO: Egypt’s government is working with the central bank to ease downward pressure on the currency by trying to boost exports and regulate imports, Prime Minister Sherif Ismail said. “It is the central bank’s job but the government is working with it through several methods, one is obviously to increase our exports and regulate imports,” he said in a news ... Read More »

UAE lift ban on horse import from Egypt

DUBAI: Agriculture and Land Reclamation Minister Essam Fayed commissioned the General Authority for Veterinary Services and the Egyptian Agricultural Authority to hold an urgent meeting on Tuesday to find a solution to the EU ban on horse imports from Egypt, which has been in effect for five years. Sultan Ahmed Al Jaber, the UAE’s minister of state and head of the ... Read More »

Egypt’s GASC purchases 115,000 tonnes wheat from Russia, Ukraine

CAIRO: Egypt’s state grain buyer, the General Authority for Supply Commodities (GASC), has bought 115,000 tonnes of Russian and Ukraine wheat in a tender for Dec. 11-20 shipment, it said. Egypt, one of the world’s biggest importers of wheat, bought 60,000 tonnes of Russian wheat and 55,000 tonnes of Ukraine wheat, GASC Vice-Chairman Mamdouh Abdel Fattah said. GASC bought the ... Read More »

Egypt Customs recovers 1124 artifacts at Damietta Port

CAIRO: German specialists in restoration work golden mask Tutankamun at the Egyptian museum in Cairo October 20, 2015. Egypt’s archeological unit aborted the largest smuggling antiquities case from the country as a collection of 1124 artifacts was recovered at Damietta port before being smuggled to Thailand, Minister of Antiquities Mamdouh Eldamaty announced on Thursday. He explained that the objects were ... Read More »

Egypt, Singapore ink deal to build maritime ports

CAIRO: The Maritime Sector of the Egyptian Ministry of Transportation signed a Memorandum of Understanding (MoU) with the Port of Singapore Authority (PSA) as Singapore will operate and develop the Egyptian maritime ports. President Abdel Fatah al-Sisi met Tuesday the PSA CEO Tan Chong Meng to discuss the outcomes of Sisi’s visit to Singapore on Aug. 30 when both sides ... Read More »

Egypt Customs not to raise tariff on car spare parts

CAIRO: Egypt has no plans to raise customs on car spare parts, head of Egypt’s Customs Authority Magdy Abdel Aziz said at a Wednesday meeting with the American Chamber of Commerce in Cairo. Abdel Aziz denied all media reports speculating that spare car parts would be added to a list of luxury goods that the Egyptian government intends to raise ... Read More »

Private meat imports reduce 30%

CAIRO: Private meat imports were reduced by 30 percent compared to last year due to the Egyptian pound depreciation against the U.S. dollar, head of the veterinary quarantine department Sayed Gad el-Moula told Youm7 Thursday. In late October the Egyptian pound reached a new official low of 7.93 against the dollar, with banks trading at 8.03 to a dollar. Cargos of ... Read More »

Egypt authorities foil attempt to smuggle 1124 artifacts

CAIRO: Egypt’s archeological unit aborted the largest smuggling antiquities case from the country as a collection of 1124 artifacts was recovered at Damietta port before being smuggled to Thailand, Minister of Antiquities Mamdouh Eldamaty announced on Thursday. He explained that the objects were hidden inside four wooden parcels filled with toilet paper. The parcels were to be shipped to Thailand ... Read More »

Egypt, Singapore sign deal to develop maritime ports

CAIRO: The Maritime Sector of the Egyptian Ministry of Transportation signed a Memorandum of Understanding (MoU) with the Port of Singapore Authority (PSA) as Singapore will operate and develop the Egyptian maritime ports. President Abdel Fatah al-Sisi met Tuesday the PSA CEO Tan Chong Meng to discuss the outcomes of Sisi’s visit to Singapore on Aug. 30 when both sides ... Read More »

Egypt imposes restrictions to limit imports, protect local industry

CAIRO: The ministerial economic group agreed on a number of restrictions and procedures to limit the huge imports’ bill, and protect the local industry, according to a statement by the cabinet. The procedures and restrictions, according to the government’s statement, included the tightening of control on the customs port in cooperation with Ministries of Defence and Interior, and security bodies. ... Read More »

Egypt seeks to exports agricultural products to Asia, Africa

CAIRO: Egypt’s Ministry of Agriculture and Land Reclamation has announced to be holding talks to open markets for the export of Egyptian agricultural products to markets in Asia and Africa. According to a statement issued by the Ministry last week, the Central Administration for Agricultural Quarantine is making contacts and consultations with the plant quarantine authorities in South Africa to ... Read More »

Egypt expects to raise exports by 9-10% yearly until 2020

CAIRO: Egypt expects to increase its exports by 9-10 percent annually until 2020, Minister of Trade and Industry Tarek Kabil told Reuters on Sunday. Kabil also said that production at steel firms had been almost halted for the past four months due to gas shortages but had resumed operations last week. Read More »

Egypt imports wheat 4 times in Oct to meet a shortfall

CAIRO: Egypt has imported wheat four times in October to meet a shortfall in the local wheat used in producing subsidized bread. The amount of imported wheat during this month has reached 895,000 tons, mostly from Russia, France, Poland and Romania; a recent contract was signed Thursday to import 240,000 tons by December for $208 per ton. The Ministry of ... Read More »

Egypt imports wheat 4 times in Oct to meet shortfall in local wheat

CAIRO: Egypt has imported wheat four times in October to meet a shortfall in the local wheat used in producing subsidized bread. The amount of imported wheat during this month has reached 895,000 tons, mostly from Russia, France, Poland and Romania; a recent contract was signed Thursday to import 240,000 tons by December for $208 per ton. The Ministry of ... Read More »

Cairo Air Customs foils attempt to smuggle iPhones worth $63K

CAIRO: Cairo International Airport authorities foiled an attempt by an Egyptian passenger to smuggle new mobile phones and electronics on his arrival from the United States. Authorities reportedly had prior information about the man’s attempt to pass the electronics, which are worth a 500,000 EGP ($63,000), without paying their customs. The man was arrested right after his plane landed at ... Read More »

Egypt authorities confiscate iPhones worth $63K at Cairo airport

CAIRO: Cairo International Airport authorities foiled an attempt by an Egyptian passenger to smuggle new mobile phones and electronics on his arrival from the United States, Youm7 reported. Authorities reportedly had prior information about the man’s attempt to pass the electronics, which are worth a 500,000 EGP ($63,000), without paying their customs. The man was arrested right after his plane ... Read More »

Egypt central bank drops value from 7.83 to 7.93 pounds per dollar

CAIRO: Egypt’s central bank weakened the value of the Egyptian pound against the dollar Sunday for the second time in a week. The bank said in a statement that it weakened the pound at an auction, dropping the value from 7.83 to 7.93 pounds per dollar. The central bank has allowed commercial banks a wider margin for selling and buying ... Read More »

Egypt: 2 passengers stopped for cash smuggling at Cairo Airport

CAIRO: Cairo International Airport authorities foiled an attempt by two passengers to smuggle 820,000 Saudi Riyal and United Arab Emirates Dirham outside Egypt, Youm7 reported Friday. Security services department at the airport suspected a Saudi passenger, and after inspecting his luggage, some 720,000 SR ($191,966) were found in his possession. The bags of a Bahraini passenger, who is heading to ... Read More »