Egypt’s initiative to offer goods at reduced costs to start Sunday

Picture of a fruit shop in Cairo, on July 5, 2019. Global demand for agricultural products is projected to grow by 15 percent over the coming decade. (File/AFP)
Short Url
Updated 26 July 2020

Egypt’s initiative to offer goods at reduced costs to start Sunday

  • The initiative aims to offer up to 20 percent discount on items in order to help support Egyptian consumers
  • The plan comes as part of the country’s efforts to contribute to improving the economic situation in Egypt

DUBAI: Egypt’s presidential plan to provide consumers with goods at lower costs will start on Sunday, local daily Egypt Today reported.
The initiative aims to offer up to 20 percent discount on items in order to help support Egyptian consumers.
The plan comes as part of the country’s efforts to contribute to improving the economic situation in Egypt for the benefit of the manufacturers, traders and consumers, Minister of Justice Mohamed Maait said.
The initiative also aims to encourage factories to operate at their full production capacities, stimulate the local goods, improve the internal trade movement, meet citizens’ wants at reasonable prices, and raise the economic growth rate, he added.
Maait also said the presidential plan includes home appliances, electronic devices, clothes, leather products and furniture which are available on the initiative’s website:
https://www.mobadra.gov.eg/
Consumers are capable of buying items on instalments, as the initiative offers goods at low-interest rates in cooperation with Egyptian banks, and finance companies, he added.


Yemeni government, STC discuss coalition under Riyadh Agreement

Updated 8 min 9 sec ago

Yemeni government, STC discuss coalition under Riyadh Agreement

  • Prime Minister Maeen Abdulmalik Saeed met on Thursday with STC representatives in Riyadh
  • The discussions between the two sides come under the Riyadh Agreement signed in November last year

DUBAI: The Saudi-backed government of Yemen met with the Southern Transitional Council (STC) to discuss the political components to form the new government as part of a power-sharing deal. 
Prime Minister Maeen Abdulmalik Saeed met on Thursday with STC representatives in Riyadh to outline reforms to unite national ranks between the anti-Houthi coalition, according to state news agency Saba New.
Both sides discussed the priorities of the new government to face existing challenges in the political, military, security, service and economic sectors. Sustainable reforms and addressing corruption, were also on the agenda. 
The discussions between the two sides come under the Riyadh Agreement signed in November last year. 
The new government will look to face current economic challenges in the war-torn country with the aim to stop the deterioration of the national currency exchange rate, as well as the humanitarian situation.

Meanwhile, President Abdrabbu Mansour Hadi left Saudi Arabia and headed to the United States for medical treatment

The head of the country’s internationally-recognised government, who has lived in exile in Riyadh since the Iranian-aligned Houthi group captured the Yemeni capital Sanaa in 2015, has been treated for a heart condition since 2011.