The gov’t is making it harder for you to get that replacement engine for your tuk-tuk
Tuk-tuks be gone: Trade Minister Nevine Gamea has issued a decision to stop importing the basic components needed for the local assembly of tuk-tuks, a move that was telegraphed earlier this week.
Other things we’re keeping an eye on this morning:
- Pump it up: The world’s largest water pump manufacturer, Grundfos, could set up a new EUR 6 mn factory to produce water pumps in Egypt in the next five years.
- Altus strikes gold in new Eastern Desert concessions: Altus Strategies subsidiary Akh Gold has discovered 14 hard rock artisanal gold workings in two of its 100%-owned Eastern Desert sites acquired in the recent exploration tender, according to a company statement. Altus, which is backed by b’naire Naguib Sawiris, is in “a strong position to aggressively advance exploration” following the finds at the two sites, the statement read.
- Justice on a platter: Three of the individuals accused of involvement in the infamous Fairmont case have been handed lengthy jail terms in a separate case relating to the [redacted] assault of a girl on the North Coast in 2015. The trial, which was held in absentia due to the defendants being on the run, resulted in two being given life sentences while a third 15 years behind bars.