Apex International Energy has discovered oil at the Bahariya and Abu Roash G formations in the Western Desert, it said in a statement yesterday.

Qatar Airways touches down in Cairo: The first passenger flight from Doha landed in Cairo yesterday, bringing an end to a 3.5-year travel hiatus between the two countries, Masrawy reports.

Local airline Air Cairo will begin operating four weekly trips from Hurghada and Sharm El Sheikh to Copenhagen and Billund in Denmark as well as Oslo and Stockholm as of 21 February.

Egypt paid EGP 21 bn in export subsidy arrears in 2020, with over 1k exporters receiving payments, Finance Minister Mohamed Maait said yesterday. Some EGP 13 bn was paid out in November and December to businesses that agreed to take a 15% haircut on the arrears.

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