• Sunday, 16 January 2022

    The US wants a bite of NFT returns. But you shouldn’t take a bite of anything sugary during covid

    Make a killing on NFTs? The US government wants a slice of that pie: Non-fungible token (NFT) investors in the US may be in for a surprise this tax season, as Internal Revenue Service (IRS) officials gear up for a...
  • Sunday, 13 June 2021

    Pharos Energy strikes oil in Fayoum

    Pharos Energy finds oil in two reservoirs at Egyptian well: Pharos Energy announced an oil discovery with potential of 4.3 mn barrels in its Abu Rawash Lower “G” reservoir, and a smaller 430k barrel deposit in its Upper Bahariya reservoir,...
  • Tuesday, 9 March 2021

    Also on our radar on 9 March 2021

    A few things we’re keeping an eye on this morning: European Universities in Egypt — an organization that will manage branches of the University of London and University of Central Lancashire in Egypt — will establish its headquarters in the...
  • Sunday, 6 December 2020

    Also on our radar on 6 December 2020

    Still more metro + railway news: Bombardier is set to begin manufacturing in 1Q2021 the railcars for the two planned monorails that will link Sixth of October City to Giza and Nasr City to the new capital, under a USD...
  • Sunday, 15 November 2020

    Egypt’s sugar import ban begins hurting EU exports

    Egypt’s sugar import ban is hurting EU sugar exports: The European Union’s sale of sugar to Egypt are at a four-year low thanks to Egypt’s ban on imports as part of a self-sufficiency drive, Bloomberg reports. The EU’s white sugar...
  • Tuesday, 28 July 2020

    Egypt to increase sugar production to 2.5-2.6 mn tonnes this year

    Egypt will increase sugar production to 2.5-2.6 mn tonnes in FY2020-2021, up from 2.48 mn tonnes last year, Mustafa Abdel Gawad, head of the Agriculture Ministry's Sugar Crops Council, told Reuters. This is sufficient to cover 80% of domestic consumption,...
  • Tuesday, 14 July 2020

    Al Canal Sugar contracts El Deiab to reclaim 100k feddans in Egypt’s West Minya

    Al Canal Sugar has contracted El Deiab for Land Reclamation to reclaim 100k feddans in West Minya as the first phase of its plans to reclaim 181k feddans, according to a statement (pdf). The company did not disclose the value...
  • Thursday, 20 February 2020

    Egypt’s strategic reserves of wheat, sugar to last around 5 months

    Egypt has strategic reserves of wheat that would last 4.7 months and sugar that would last 5.3 months, Supply Minister Ali El Moselhy told MENA, according to Reuters. El Moselhy added that Egypt is aiming to procure 4 mn tonnes...
  • Tuesday, 11 February 2020

    Al Canal sugar factory to output 400k tonnes when production resumes in 2021

    Al Canal’s USD 1 bn Minya sugar factory will output over 400k tonnes of white sugar when production resumes in the 2021 season, CEO Eslam Salem told reporters, according to Reuters. Salem said that the factory will reach full capacity...

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