News / Business

Egyptian Hotels Almost Fill Up at Reduced Occupancy

After reopening at a quarter of regular capacity in a bid to contain the spread of COVID-19, Egyptian hotels are almost fully booked for domestic tourism, coinciding with the peak season of Eid Al Fitr holiday.

Smart Real Estate Seen a Boon for Home Hunters Amid Uncertainties

Demand for real estate tech and virtual services (i.e. augmented reality (AR), virtual reality (VR), 360° virtual panoramic tours, etc.) is forcefully surging in Egypt more than ever before, in efforts to boost sales and revive demand amidst heightened volatility due to the Coronavirus crisis, as highlighted at Invest-Gate's first virtual roundtable "Smart Real Estate Market Amid COVID-19."

Lafarge Egypt Repairs Ventilators, Provides Food Boxes

Lafarge Egypt, a subsidiary of LafargeHolcim Group, has announced repairing 460 ventilator devices in public hospitals nationwide and providing 2,000 food boxes to support daily workers in Qalyubia Governorate.

JLL Predicts E-Commerce Boom in Egypt Amid COVID-19

JLL expects a new wave of e-commerce transformation across Egypt, especially in Cairo, after showing a notable growth potential following the coronavirus fallout

Middle Eastern Funds to Increase Investments in Egypt

Middle Eastern fund managers plan to raise their investments in Egypt in the second quarter of 2020

Egypt, ITFC Ink USD 100 mn Deal to Secure Essential Commodities

The International Islamic Trade Finance Corporation (ITFC) Inked USD 100 mn financing agreement with the General Authority for Supply Commodities (GASC) to cover the Egyptian government’s essential strategic commodity needs amid the COVID-19 pandemic, state-run Ahram Online news website.

COVID-19 to Batter GCC Corporate Earnings in H1: Analysts

GCC corporate earnings will be negatively impacted in the first half (1H) of the year as businesses and the economy have been severely hit by the COVID-19 pandemic, Reuters reports.

Gov’t Eases Payment of Health Sector Dues

Egypt’s Ministry of Finance issued new decisions regarding the payment of financial dues by the health sector amid the coronavirus (COVID-19) crisis

Seven Tides Rolls out Support Measures for Tenants

UAE's property developer Seven Tides said its residential, commercial, and retail tenants in Dubai's Discovery Gardens and Ibn Battuta Gate are eligible to receive rent relief measures if they experienced job cuts, salary reductions, or disruptions to their businesses because of the Covid-19 crisis

Tourism Minister Revokes Hotel License Over Coronavirus Layoffs

Tourism and Antiquities Minister Khaled El Anany issued a decision on April 26 to revoke the license of a leading hotel in Sharm El-Sheikh after it laid off all workers due to the coronavirus pandemic

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