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See - Sada Elbalad
3 days ago
- Business
- See - Sada Elbalad
Uzbek Gov't Delegation Tours Agricultural Projects, Research Centers in Egypt
Taarek Refaat An Uzbek government delegation headed by the Director of the Cabinet Secretariat for Investment, Export, Trade, Agriculture and Water Resources visited several agricultural projects and research centers during a four-day visit to Egypt. The Uzbek delegation began its field trip with a visit to the Agricultural Research Center, where they were briefed on the center's research activities and its efforts to achieve food security and improve crop productivity. They also visited the Excellence and Innovation Exhibition. The Uzbek delegation also visited the Desert Research Center, where they learned about the center's efforts to address the challenges of desertification and climate change. The Uzbek group expressed their great admiration for Egypt's experience in establishing integrated agricultural communities aimed at achieving social stability and sustainable development, commending the role of the Desert Research Center in providing pioneering models and practical solutions to environmental and agricultural challenges in desert regions. They also inspected the "Future of Egypt" sustainable agriculture project, the first project aimed at achieving self-sufficiency and exporting surpluses. The targeted area for reclamation is 1.5 million feddans, out of the total area of the New Delta project, which amounts to 2.2 million feddans. They affirmed Uzbekistan's keenness to exchange successful experiences with Egypt in land reclamation, natural resource management, and modern agriculture, especially in light of the environmental and climate challenges facing both countries. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks
Reuters
16-05-2025
- Business
- Reuters
India's KRBL posts higher quarterly profit on international demand
May 16 (Reuters) - Basmati rice producer KRBL ( opens new tab on Friday reported a rise in fourth-quarter profit, helped by the strong overseas demand for its rice products. KRBL, known for its 'India Gate' brand of basmati rice, reported consolidated net profit of 1.54 billion rupees ($18 million) in the fourth quarter, up 35% from a year ago. India had eased almost all curbs on non-basmati and basmati rice exports late last year to reduce surging inventories and regain market share. The government had also removed minimum export price for basmati rice to help thousands of farmers who complained about a lack of access to lucrative overseas markets such as Europe, the Middle East and the U.S. The move boosted export volumes as Indian basmati rice is now more competitively priced in global markets. The company's export revenue grew 45% in the fourth quarter. Increasing export revenue will partly contribute to margin improvement next year, it said. KRBL's agricultural segment, which includes India Gate basmati rice brand and non-basmati rice, saw a 10% rise in quarterly revenue. The segment accounted for nearly the company's entire revenue during the quarter. ($1 = 85.5550 Indian rupees)
Al-Ahram Weekly
01-05-2025
- Business
- Al-Ahram Weekly
Egypt, Japan to build EGP 1.4 bln blood bag factory in SCZone - Health
Prime Minister Mostafa Madbouly witnessed on Wednesday the signing of a EGP 1.4 billion agreement between the Egyptian Company for Medical Investments (ECMI), Interpharm for Import, Export, and Medical Industries, and Japan's JMS to establish a factory in Ain Sokhna's Suez Canal Economic Zone (SCZone) for the local production of blood bags and pouches. PM Madbouly affirmed that the project, fully backed by President Abdel-Fattah El-Sisi, is a cornerstone of the national strategy to transfer advanced technology and localize strategic industries, particularly in the medical and pharmaceutical sectors, a statement from the Egyptian cabinet read. It aims to meet domestic demand while expanding into export markets in neighbouring countries, capitalizing on Egypt's capacity to drive industrial growth and build an integrated medical manufacturing hub, he added. "The factory aims to meet 100 percent of Egypt's annual demand for blood bags, while also boosting exports to Middle Eastern and North African markets," the Unified Procurement Authority (UPA) stated. The facility is expected to produce seven million blood pouches annually by its seventh year — three million for local consumption and four million for export. This would also contribute to Egypt's medical exports and enhance foreign currency revenues. Moreover, Madbouly emphasized that the factory's location in Ain Sokhna was strategically chosen to benefit from government incentives and the logistical advantages offered by the SCZone, making it a competitive hub for regional and global distribution. The project reflects Egypt's commitment to achieving medical self-sufficiency, strengthening public-private partnerships, and attracting direct foreign investment in the pharmaceutical manufacturing sector, according to the statement. It also comes amid growing local and international demand for high-quality blood products used in surgeries, accidents, leukaemia, kidney diseases, and organ transplants, among others. Senior Egyptian officials attended the signing ceremony. The agreement was signed by Osama Abdel Baset, chairman of the Egyptian Company for Medical Investments; Ahmed Sami, chairman and CEO of Interpharm Egypt for Import, Export, and Medical Industries; and Masafumi Sato, executive director of JMS Japan. Ahmed Sami, Chairman and CEO of Interpharm Egypt for Import, Export, and Medical Industries (L), Osama Abdel Baset, Chairman of the Egyptian Company for Medical Investments (middle); and Masafumi Sato, Executive Director of JMS Japan (R). Photo by Egyptian Cabinet. Follow us on: Facebook Instagram Whatsapp Short link:
