Search Results for: Egyptian

BY MEGAN DETRIE

A KEY figure in the Egyptian textile industry has called on his government to invest in the two companies recently re-nationalised, following a court decision which ruled illegal their privatisation by the deposed Mubarak regime.

Judges said that the Shebin El-Kom Textile Company (which has major international clothing sector clients), and the Tanta Company for Linen and Derivatives (which does not sell to the clothing sector) had been sold off without sufficient due process, restoring the companies’ ownership to the state.…

BY KEITH NUTHALL

SUGAR has been at the centre of continuing concern about fraud draining European Union (EU) budgets of duty revenue. The latest operational report from EU anti-fraud unit OLAF (which reviewed 2009) recalled how fraudsters made millions of Euros from exporting 3,400 tonnes of sugar from the EU to neighbouring non-member state Croatia via the Russian exclave of Kaliningrad.…

BY KEITH NUTHALL

THE INTERNATIONAL Finance Corporation (IFC), of the World Bank is to invest US dollars USD120 million into the Egyptian Refining Company, to raise environmental standards and clean Egypt’s domestic fuel sources. The money will help build a USD3.7 billion hydro-cracking and coking refinery, transforming locally available fuel oil into lighter fuel products, such as ultra-low sulphur diesel.…

BY KEITH NUTHALL

THE WORLD Bank is lending Egypt US dollars USD600 million to help finance the construction of a 1,500MW gas-powered electricity plant at Giza North, near Cairo. The plant will be owned and operated by the Cairo Electricity Production Company, a subsidiary of Egyptian Electricity Holding Company.…

BY BART PEETERS and KEITH NUTHALL

TOBACCO products made in Egypt are to enter the European Union (EU) duty free upon ratification of an expended trade deal negotiated by the European Commission with the Egyptian government. The EU Council of Ministers has approved the deal, which awaits ratification by the European Parliament.…

BY BART PEETERS and KEITH NUTHALL

EGYPTIAN smokers were shocked this January to discover a picture of a drooping cigarette on their packets, accompanied by the warning in Arabic: "Long term smoking will affect marital relations." The mere hinting at potential impotence caused quite a controversy in Egypt’s conservative society, in which the average smoker remains overwhelmingly male.…

BY KEITH NUTHALL

THE EUROPEAN Union (EU) Council of Ministers has approved a new food trade deal with Egypt, which will allow Europe-based manufacturers and retailers to source a wide range of Egyptian products and ingredients duty free. Only exports specified in the agreement will attract duty: these include some fish, confectionery and vegetables, although the agreement will open some restricted duty-free quotas for exports to the EU.…

BY PAUL COCHRANE

EGYPT

Eastern Tobacco Company

450 Al Ahram Street, Giza

Tel : +20-18-5724711- 5724332 – 5724945

+20-23-5793326

www.easternegypt.com

British American Tobacco Egypt

City Stars Complex

Star Capital – Tower 4A

Omar Ebn El Khattab Street

Postal Code 11771

Heliopolis, Cairo

T: (+20) 2 480 1080

Japan Tobacco International (Regional)

2nd Floor, Lophitis Business Centre

249, 28th October Street & Emiliou Hourmouziou Corner

CY-3035, Lemesos

P.O.…

BY HELENA FLUSFEDER

A US-ISRAELI consortium has found a natural gas reservoir 90 kilometers offshore from the coastal city of Haifa, which could meet much of Israel’s natural gas needs for more than 20 years. This would reduce the country’s dependence on gas imports from countries such as Egypt with whom Israel has tricky, if peaceful relations.…

BY PAUL COCHRANE

THE EURO-MASHREQ gas pipeline that runs 1,200 kilometers from Egypt through Jordan and Syria to Turkey has taken 20 years to come to fruition. The end is in sight however, with the project awaiting a final tender for the last leg through northern Syria.…