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Egypt failed to attract tourists who opted to move away from destinations like Turkey recently, Red Sea Tourism Investment Association vice president Hossam El Shaer told Al Shorouk. The slight rebound in arrivals figures is because of the relative degree of stability Egypt saw recently, El Shaer says. He blames the “failure” on Tourism Minister […]
Author Archives: enterpriseam admin
Posted inTourism
EgyptAir to resume direct flights to Japan in October
EgyptAir will resume direct flights to Japan starting 29 October between Cairo and Narita, Al Mal reports. Flights were suspended four years ago due to a decrease in demand. The flights will be operated on Saturdays, potentially increasing if demand picks up.
Posted inInfrastructure
Alex Port signs EGP 3 bn agreement with Sesco Trans for bulk terminal
The Alexandria Port Authority signed a EGP 3 bn agreement with Sesco Trans to design, construct, manage, and maintain a bulk terminal at the Dekheila Port under a 30 year usufruct, Al Borsa reports. The terminal is expected to take up to two years to construct, according to Transportation Minister Hisham Arafat.
Posted inInfrastructure
SCZone chiefs ratifies contracts of EGP 1 bn’s worth of projects in Ain Sokhna
Suez Canal Economic Zone (SCZone) chief Mohab Mamish ratified on Sunday contracts for 15 new projects in the Ain Sokhna industrial zone with a collective investment value of EGP 1 bn, Al Shorouk reports. The move follows a resolution pf a land dispute between the SCZone and the Suez Industrial Development Company, the company which […]
Posted inOther Business News of Note
LG Chem wins contract to supply filters to desalination plant in Egypt
Seoul-based LG Chem was awarded a license to supply water treatment filters to a desalination plant in Egypt managed by Metito, The Korea Times reports. LG Chem will provide reverse osmosis membranes for the plant, which will be able to produce up to 300,000 tons of desalinated water, enough to supply one mn people. The […]
Posted inEgypt Politics + Economics
Supply Ministry warns Kramers of suspension from ration card system if cards not updated
The Supply Ministry issued another warning that it will suspend subsidy cards whose holders fail to update or complete their missing data by the 30 June deadline, Assistant Supply Minister Mamdouh Ramadan tells Al Shorouk. Ramadan did not clarify how many of the approximately 19 mn beneficiaries have responded to the government’s calls to update […]
Posted inSports
Mohamed El Shorbagy wins PSA Dubai World Series
World number one squash player Mohamed El Shorbagy won the PSA Dubai World Series over the weekend, edging out England’s James Willstrop in the final match of the championship, Arabian Business reports.
Posted inON YOUR WAY OUT
Syrians have formed a community in Sixth of October
Syrian refugees in Cairo have carved out a new community in Sixth of October that’s being featured in a photo gallery carried by Xinhua, China’s state news agency.
Posted inON YOUR WAY OUT
Egyptian sand features in São Paulo exhibition
Egyptian sand is being featured at an exhibition in São Paulo as part of the Sands of the World exhibition, Brazil-Arab News Agency reports. The exhibition is a scientific presentation about where different kinds of sand originate. The sample from Egypt was taken from Cairo and can “be seen up close with a magnifying glass. […]
Posted inTHE MARKETS YESTERDAY
BY THE NUMBERS
EGP / USD CBE market average: Buy 18.0394 | Sell 18.1421 EGP / USD at CIB: Buy 18.05 | Sell 18.15 EGP / USD at NBE: Buy 17.95 | Sell 18.05 EGX30 (Sunday): 13,616 (-0.5%) Turnover: EGP 680 mn EGX 30 year-to-date: +10.3% THE MARKET ON SUNDAY: The EGX30 ended Sunday’s session down 0.5%. CIB, […]