Égypte-actualités

Authorities have put a halt to issuing new liquor licenses in some of Cairo’s recently built areas and new settlements, Senior Vice President of the New Urban Communities Authority Nabeel Abbas confirmed to the independent financial newspaper Al-Mal Sunday.

Abbas first said the authority would not issue any new liquor licenses to shops or trade centers operating in the new neighborhoods in a letter dated 11 November 2012, which Al-Mal obtained from one new neighborhood’s governing agency.

In the letter, Abbas wrote that establishments would be observed to see that they ended all alcohol selling operations. He said the authority had the right to revoke the rights of any activities that might disturb the residents of the area. (Egypt independent)

More : http://www.egyptindependent.com/news/authority-stops-issuing-new-liquor-licenses-new-areas

Khairy Mohamed, Managing Director and Head of the Financial Sector, at Al Ahram Markets, Egyptian joint stock Company, has affirmed that the volume of sales declined to 25%, due to the latest tensions and the instability in Canal Cities.

In his statements to "Amwal Al Ghad", Khairy said the company is facing a serious problem; representing in increasing the prices that the importers impose on commodities owing to the dollar rise. He referred that the commodities which their price went up are meat, frozen chicken, grains and butter; adding that the company is reducing its profit to protect the prices.

It is worth noting that Al Ahram Markets has decided before to close due to the lawlessness after the 2nd anniversary of the 25 January Revolution, resulting in losing EGP 10 million