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The pandemic hasn’t been kind to our current account
The pandemic hasn’t been kind to Egypt’s current account: Egypt’s current account deficit more than tripled to USD 3.83 bn…
Tourism Ministry tempts airlines back to Egypt with new charter flight incentives
Charter flights landing in Egypt are eligible for a fresh batch of incentives under the next phase of the Tourism…
Hotel occupancy rates fall sharply due to pandemic
Hotel occupancy rates in Cairo nosedived 67% y-o-y so far this year amid the pandemic-induced slump in tourism, according to…
What we’re tracking on 25 November 2020
Good morning, friends, and welcome to our last issue of the week. The three big themes of today’s news cycle…
Banque Misr sells stake in Rowad Tourism
Banque Misr has sold its entire 9.48% stake in the Rowad Tourism Company for EGP 22.7 mn, according to an…
Who’s in the market for debt? Remco, HD Leasing, El Nasr Auto, Marsa Alam for Tourism Development
Tourism developer Remco and two of its affiliate companies are in talks to obtain a two-tranche EGP 3.3 bn syndicated…
Monthly tourism revenues plunge 85-92% in 2020
Average monthly tourism revenues for 2020 have declined 85-92%, with tourism bringing in between USD 80 mn and USD 150…
Suez Canal Authority reduces fees for cruise ships by 50%
Cruise ships passing through the Suez Canal will get a 50% discount on fees provided that they spend no less…
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