GASC in talks for new wheat buy + the Cairo hotel market rebounds in 2022
GASC is in direct talks with 14 wheat suppliers to buy an undisclosed amount of wheat, traders tell Reuters. The state grains buyer is yet to make a purchase and negotiations are ongoing, they said.
GASC launched a new tender yesterday after canceling one on Tuesday due to high prices, and called for offers from all 17 accredited import origins. Suppliers were asked to submit bids on a cost and freight basis (CFR) for shipment between September and November.
Other things we’re keeping an eye on this morning:
- Cairo's hotels are filling up again: Cairo's hotel occupancy rates were up to 60% during the first five months of 2022, nearly doubling y-o-y, according to a report (pdf) from real estate services firm JLL.
- Fintech player Lucky has partnered with B2B marketplace Capiter to provide its customers with special offers, including using the Lucky One card without charge. (Statement, pdf)
- Switzerland will provide Egypt with a grant worth CHF 9.3 mn (EGP 181.9 mn) for a water project in Aswan. (MENA)
- Hot air balloons can fly again in Luxor after a two-day suspension to investigate a collision earlier this week that lightly injured two tourists. (Ahram Online)
- Egyptian African Arab Co. for Development (EGAAD) — a consortium of 22 Egyptian contracting companies — will build a food factory over the next two years in Côte d’Ivoire. (Al Mal)