ABU DHABI/CAIRO: Smugglers in the Middle East are enjoying an unlikely moneyspinner — illegal medium grain rice.
Shoppers across the Gulf, mostly unaware of the smuggling, depend on Egyptian rice to make popular Middle Eastern recipes such as (...)
DUBAI: Egyptian refiner Nile Sugar plans to increase its crushing capacity by over 40 percent next year to help meet strong demand in the country, its chief executive said on Sunday.
Egypt produces around 2 million tons of sugar a year but needs (...)
CAIRO: Egypt's main state grain buyer, the General Authority for Supply Commodities (GASC), said on Sunday it had bought 234,000 tons of rice in a tender, adding that the rice was imported but that it was already in Egypt.
Of the total, GASC (...)
CAIRO: Egypt's main state grain buyer, the General Authority for Supply Commodities (GASC), said on Sunday it had bought 234,000 tons of rice in a tender, adding that the rice was imported but that it was already in Egypt.
Of the total, GASC (...)
CAIRO: US grain suppliers are likely to start winning tenders to sell wheat to Egypt in February, when Russian wheat loses its competitive edge and Argentina retreats from the market, an official with a US industry group said on Thursday.
Egypt, (...)
CAIRO: Egypt's main government grain buyer said on Thursday it would issue international tenders to buy rice if local producers continue stocking up on the commodity.
"We are issuing a tender next week to buy both local and imported rice that is (...)
CAIRO/DUBAI: Political unrest is set to dominate Egypt's stock market over the coming week, adding to the risks posed by unstable global financial markets.
Egypt's benchmark index plunged to its lowest levels in 32 months this week after days of (...)
CAIRO: Developer Talaat Mostafa Group's land contract for its Madinaty project is valid, an Egyptian court ruled on Tuesday, signaling an end to a long-running legal battle over the $3 billion scheme.
The development of shops, homes, hotels and a (...)
CAIRO: After the rice harvest each autumn, Egyptians take a deep breath and brace for the "black cloud," a thick layer of smog from burning rice straw that spreads across Cairo and the Nile valley for several weeks.
Environmentalists blame the (...)
CAIRO: Egypt, the world's largest wheat importer, has bought 120,000 tons of Ukrainian wheat for January 11-20 shipment, the main government wheat buyer said on Saturday.
Nomani Nomani, vice chairman of the General Authority for Supply (...)
DUBAI/CAIRO: Small-cap shares favored by local retail investors are set to dominate activity in Gulf stock markets next week as big institutional investors stay on the sidelines, worried by the euro zone debt crisis and instability in the global (...)
CAIRO: The area planted with sugar beet and cane in Egypt in the 2011/2012 season will hold steady, an official said in remarks published on Wednesday, dousing talk that lucrative prices offered by the state for wheat would encourage a (...)
CAIRO: Egypt's government on Wednesday sought to end a strike by thousands of lower ranking police officers demanding better pay and a purge of senior officials linked to Hosni Mubarak's rule, the official news agency said.
Police started a (...)
CAIRO: Egypt, the world's biggest wheat importer, is keen to buy French grain but would like it more competitively priced at international tenders, the main state buyer said on Tuesday.
Egypt, which annually consumes 14 million tons of wheat and (...)
CAIRO: Egypt is now pumping gas to Jordan and Israel after a disruption caused by an attack on a pipeline and has more than doubled the price it is charging Jordan, top Egyptian officials on Monday.
"It is being pumped now," state-owned EGAS (...)
SHARM EL-SHEIKH: Egypt's main state wheat buyer said on Thursday he was not facing any financing issues despite political turmoil and said Russian wheat was still competitive although some shipments had been delayed.
"I don't have a financing (...)
SHARM EL-SHEIKH: Egypt, the world's largest wheat importer, expects to grow 3 million acres of wheat in the 2011/12 season, the chairman of the country's National Seed Council said, about the same acreage as last year while it offers to pay farmers (...)
CAIRO: Egypt's dependence on local borrowing to support the state budget is not sustainable and it will have to borrow from overseas, a state newspaper quoted Finance Minister Hazem El-Beblawi as saying on Monday.
Local banks are lending heavily (...)
CAIRO: Egypt's Finance Minister Hazem El-Beblawi, also the deputy premier, returned to work on Wednesday after the ruling military council rejected his resignation, a Cabinet source said, after a day of confusion that underscored the country's (...)
CAIRO: Egypt's headline inflation eased last month as slowing food price growth offset a faster increase in housing costs, government figures showed on Monday, and economists forecast the central bank will hold key lending rates steady this (...)
CAIRO: Egypt will soon finish drafting a new contract for gas exports to its neighbor Israel that includes a big increase in prices, a newspaper cited the petroleum minister as saying on Tuesday.
Gas supplies to Israel have been disrupted by a (...)
CAIRO: Egypt's state-owned wheat buyer, the General Authority for Supply Commodities (GASC), increased the protein content requirement for wheat it asks for in tenders, traders said on Monday, citing a GASC statement.
The minimum protein content (...)
CAIRO: Egyptian riot police on Saturday cleared Cairo's Tahrir Square of protesters who had wanted to stage a sit-in following a demonstration demanding an end to emergency laws and a speedy transfer of power to civilians from military (...)
CAIRO: Egypt's state-owned wheat buyer, the General Authority for Supply Commodities (GASC), will start a visit to Ukraine on Sunday as it prepares to add the country as a source in tenders, the firm's vice chairman said on Thursday.
"We will (...)
CAIRO: Egypt, once the breadbasket of the ancient Roman empire and now the world's biggest wheat importer, is paying a hefty price to keep its citizens fed with cheap loaves and other foodstuffs.
The $5.5 billion which it spends each year on (...)