** #5 Are the Russians finally going to life their ban on direct flights to the Red Sea? A Russian aviation security delegation will reportedly be in town this week to inspect security measures at Sharm El Sheikh and Hurghada airports, sources at the Sharm airport said yesterday, according to Al Masry Al Youm. No further details were provided. During a meeting with President Abdel Fattah El Sisi in Moscow last week, Russian President Vladimir Putin said that flights to both airports — which have been grounded since the 2015 Metrojet crash — would resume “in the nearest time,” but gave no indications as to the timeline. The State Information Service had announced before the meeting, however, that both leaders would reach an agreement that would pave the way for the resumption of direct flights from Moscow to the Red Sea destinations. Direct air travel between Cairo and Moscow resumed last April.
More from Enterprise
Banque du Caire’s blockbuster IPO holds firm against EGX selloff
The IFC and the EBRD are in for USD 100…
Can AI promise Egypt’s lenders more borrowers and fewer bad loans?
Banks are cautious about letting AI judge a borrower. Local…
Egypt’s funds crossed EGP 500 bn in 3Q on retail money and a stalling core
Money market funds stalled while retail piled into equity, index,…
DPI closes Egypt-born fintech fund Nclude at USD 112 mn
The final close adds roughly USD 7 mn to a…