Import Ban To Marginally Impact GB Auto’s Profitability
News: Egyptian automaker Ghabbour Auto (GB Auto) says the motorcycle and three-wheeler import ban is expected to have minimal impact on its profitability for FY14, reports Zawya. The Ministry of Trade and Industry had announced the motorcycle and three-wheeler import ban, which will be applicable for one year, along with a three-month ban on the import of components. However, the ban is expected to adversely affect the Egyptian economy, according to GB Auto's chairman and CEO, Raouf Ghabbour. He added that the import ban is also likely to negatively impact the development of peri-urban and rural areas.