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)
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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.


Saudis warn UN of oil spot in shipping lane near decaying Yemen tanker

Updated 3 min 2 sec ago

Saudis warn UN of oil spot in shipping lane near decaying Yemen tanker

  • The UN has been waiting for formal authorization from Yemen’s Houthi movement to send a mission to the tanker
  • The UN has warned that the Safer could spill four times as much oil as the 1989 Exxon Valdez disaster off Alaska

NEW YORK: Saudi Arabia warned the UN Security Council on Wednesday that an “oil spot” had been seen in a shipping transit area 31 miles (50 km) west of a decaying tanker that is threatening to spill 1.1 million barrels of crude oil off the coast of Yemen.
The Safer tanker has been stranded off Yemen’s Red Sea oil terminal of Ras Issa for more than five years. The United Nations has warned that the Safer could spill four times as much oil as the 1989 Exxon Valdez disaster off Alaska.
In a letter to the 15-member body, reviewed by Reuters, Saudi Arabia’s UN Ambassador Abdallah Al-Mouallimi wrote that experts had observed that “a pipeline attached to the vessel is suspected to have been separated from the stabilizers holding it to the bottom and is now floating on the surface of the sea.”
The United Nations has been waiting for formal authorization from Yemen’s Houthi movement to send a mission to the Safer tanker to conduct a technical assessment and whatever initial repairs might be feasible.
The Security Council and UN Secretary-General Antonio Guterres have both called on the Houthis to grant access.
Al-Mouallimi wrote that the tanker “has reached a critical state of degradation, and that the situation is a serious threat to all Red Sea countries, particularly Yemen and Saudi Arabia,” adding “this dangerous situation must not be left unaddressed.”
Yemen has been mired in conflict since the Iran-allied Houthi group ousted the government from the capital Sanaa in 2014. A Saudi-led military coalition in 2015 intervened in a bid to restore the government.