Authorities in Egypt have set up hundreds of pop-up outlets to sell food, including Ramadan specialities at discounted prices, the latest measure by the government to soften the impact of sharply higher food prices on the country’s 102 million people.
The outlets, called Ahlan Ramadan meaning Welcome Ramadan, offer discounts of up to 30 per cent. They offer a host of basic food items, including pasta and cooking oil, on top of traditional Ramadan specialities such as nuts, raisins, dried fruits and pickled olives.
The outlets are organised by the Supply and Internal Trade Ministry and will remain open until April 1.
“Prices in Egypt are really high and the situation is hard for us,” said Mahmoud Farag, a shopper at one of the outlets. “We are exhausted from the price increases.”
The military is also offering several million packages of basic foodstuffs at discounted prices to mark the fasting month, which begins in the first week of April.
Muslims across the world fast from dawn to dusk during Ramadan, a practice that together with prayers, is meant to cleanse their minds and souls. They also treat themselves to lavish meals to break their fast at sunset and consume more than usual quantities of desserts.
Food prices in Egypt have risen by up to 20 per cent in the month since Russia invaded Ukraine. The war disrupted the global food supply chain and sent oil prices soaring. Higher energy costs have also had a knock-on effect on prices of household items and food.
Prices in Egypt are set to rise further following the depreciation of the Egyptian pound against the US dollar last week by more than 10 per cent.
Egypt is often the world’s largest wheat importer, securing up to 80 per cent of its purchases from Russia and Ukraine. It imported a total of 13 million tonnes last year. This year, the government is looking to procure about six million tonnes from local growers.
Seeking to keep prices in check by increasing supply, Egypt this month announced a three-month ban on the exports of basic foodstuffs, including wheat. It has also put in place price controls on bread, a main staple for most Egyptians.
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5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
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10. James Rodriguez - to Real Madrid in 2014/15 - €75m
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KILLING OF QASSEM SULEIMANI
Also on December 7 to 9, the third edition of the Gulf Car Festival (www.gulfcarfestival.com) will take over Dubai Festival City Mall, a new venue for the event. Last year's festival brought together about 900 cars worth more than Dh300 million from across the Emirates and wider Gulf region – and that first figure is set to swell by several hundred this time around, with between 1,000 and 1,200 cars expected. The first day is themed around American muscle; the second centres on supercars, exotics, European cars and classics; and the final day will major in JDM (Japanese domestic market) cars, tuned vehicles and trucks. Individuals and car clubs can register their vehicles, although the festival isn’t all static displays, with stunt drifting, a rev battle, car pulls and a burnout competition.
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The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
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