Down with Mubarak
Category: Blog
Mazut price hike domino effect reaches sugar, paper, building materials
From the Daily News Egypt:
The 100 percent hike in the price of mazut (fuel oil) from LE 500 to LE 1,000 per ton caused a domino-effect in the market, elevating prices of building materials, sugar and paper.
The government’s decision sparked turmoil in sectors that heavily rely on fuel oil for production. Brick kilns producers were among the first to feel the effect, reporting a slump in sales after the price increase.
Producers explained that contracts with dealers were based on old prices but had to be modified after the mazut price increase, as it constitutes 45 percent of operating costs. Dealers, however, rejected the price change.
Prices of bricks have already gone up early this year to LE 515 per ton and then soared to LE 1,020, following the mazut price upsurges.
The decision has also adversely affect prices of cement, which have been rising almost steadily to LE 410-420 per ton. The price hike is expected to heavily impact the country’s housing market.
95 US soldiers called to active duty in Egypt
From the Daily News Egypt:
About 95 Iowa Army National Guard soldiers will be deployed to Egypt as part of a one-year activation.
Most of the soldiers will come from the Iowa City-based Headquarters and Headquarters Detachment 109th Medical Battalion. Officials say the unit will receive a sendoff ceremony early next month before training at Fort Lewis, Washington, and deploying to the Sinai Peninsula in Egypt.
The battalion is being activated under several missions, including the war on terrorism and Operation Iraqi Freedom. The soldiers will provide command to three companies that remove explosives and offer logistical, medical and aviation support to troops in the region.
