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Tuesday, 4 May 2021

Also on our Radar on 4 May 2021

Juhayna has lodged an official complaint with the Traffic Police over what it described as the “unjustified targeting” of its fleet, Reuters reports. The company says that traffic authorities regularly gather outside the company’s factory in Giza and have withdrawn licenses of 132 of the company’s vehicles, causing the company to suffer financial losses. The 6th of October traffic department has also allegedly prevented the company from renewing licenses for 65 of its vehicles. The company’s Chairman Safwan Thabet was arrested late last year amid allegations of ties to the Ikhwan; CEO Seif Thabet has also been detained

GOOD NEWS FOR FACTORIES: The Finance Ministry will fix electricity and gas prices for industry for the next three years, which would cost the state coffers EGP 10 bn, minister Mohamed Maait said in a statement as budget talks continue in the House of Representatives.

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