Back to the complete issue
Thursday, 4 August 2022

Last Night’s Talk Shows: Talking heads discuss food prices + Suez Canal revenues

The latest from President El Sisi led the conversation on the airwaves last night: The president has instructed the government to make available another EGP 1 bn to the National Alliance for Civil Development Work (NACDW) — an alliance of civil society organizations and associations launched this year to help address the needs of different communities. This would raise total government funding for the NACDW to EGP 10 bn. This came from Talaat Abdel Kawy, head of the general federation of NGOs and associations, who joined Masaa DMC’s Ramy Radwan last night (watch, runtime: 7:20). Meanwhile, El Sisi also called for the Transport Ministry to increase its usage of local components by partnering up with the private sector. This got plenty of attention from the talking heads last night, including from Sada El Balad (watch, runtime: 1:57) and Al Hayah Al Youm (watch, runtime: 3:10).

Are food price pressures easing? An increase in the supply of chickens and eggs has helped cool prices from recent highs that reached EGP 70-80 in July. A carton of eggs now sells at EGP 65 and 1kg of chicken costs around EGP 35, a senior official at the Egyptian Poultry Association told Sada El Balad (watch, runtime: 4:48).

Also on the airwaves last night:

  • The Suez Canal Authority wants to boost its annual revenues to USD 8 bn amid plans to raise the number of ships crossing the canal. This comes after the authority announced that revenues jumped 32% in July to a record high of USD 704 mn. (Mehwar TV | watch, runtime: 6:06)
  • Dozens of injured Libyans arrived in Egypt for medical treatment yesterday after planes were sent to rescue them following a fuel tanker explosion. (Extra News | watch, runtime: 3:08)

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.