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Wednesday, 25 May 2016

Briefly noted: Tobacco tax, EFG Hermes interview, poultry prices rising

Other stories we’re taking note of this morning at home and abroad:

  • Egypt expects to net EGP 43 bn in revenues from sin taxes on tobacco and alcohol next year.
  • Poultry prices are up about 10% in the past few days, well on their way to the 20% rise predicted by the start of Ramadan amid a seasonal spike in demand, Al Borsa reports, while red meat has hit EGP 100 per kilogram according to Al Mal.
  • Russia’s sale of SSJ-100 airliners to Egypt is in large part dependent on when Russia allows a resumption of direct flights to Egypt, Russian state news agency TASS quotes Russian Minister of Industry and Trade Denis Manturov as having said yesterday.
  • Biotech seed giant Monsanto is playing hard to get, spurning a USD 62 bn offer from Bayer, but saying it might be open to talks, the Wall Street Journal reports.

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