El Mostakbal Donates EGP 5 mn to Tahya Misr Fund
El Mostakbal for Urban Development has donated EGP 5 mn to Tahya Misr Fund, in an attempt to support the Egyptian government’s efforts in mitigating the impact of COVID-19 headwinds.
All Red Sea Hotels to Reopen by Summer’s End: Official
Chairman of the Egyptian Hotels Association in the Red Sea Alaa Akel forecast that all Red Sea hotels are projected to resume operations by next October or November, however, at low occupancy rates.
Egypt’s Housing Minister Returns to Office After 14-Day Self-Isolation
Minister of Housing, Utilities, and Urban Communities Assem El Gazzar has left his home for the first time in almost two weeks and returned to office, after self-isolating due to exposure to a COVID-19 carrier on ...
IMF Nods Egypt’s USD 5.2 bn Standby Loan
Egypt to turn once again to the International Monetary Fund (IMF), which on June 26 agreed to the former's request for a one-year, USD 5.2 bn (EGP 84 bn) financing package, as the country's economy reels from the ...
Egypt’s National Carrier to Resume Flights in Early July
Egypt's EgyptAir Airlines will resume flights to 24 destinations during the first week of July and will add more in the following weeks, operating at 20-30% capacity.
Ascott Secures 25 New Properties Globally Despite Pandemic
CapitaLand’s wholly-owned lodging subsidiary The Ascott Limited has secured contracts for 25 new properties that contribute over 5,400 units across 19 cities around the world, amid the COVID-19 headwinds.
OUD Among Egypt’s 5 Top Diversified Landowners
Egypt's Orientals for Urban Development (OUD) was ranked the fourth among the five top real estate developers with a diversified land portfolio nationwide.
Breaking News: Restrictions to Ease for Dining, Recreational Activities
Egypt will reopen restaurants and cafés, along with cinemas and theatres, on June 27, on condition of operating at no more than 25% capacity, seemingly shortening nighttime curfew to begin from 12 midnight to 4 am ...
Gov’t Guarantees EGP 3 bn to Cover Tourism Funding
The Central Bank of Egypt (CBE), in cooperation with the finance ministry, will provide EGP 3 bn worth of credit guarantees to the tourism sector, under the EGP 50 bn tourism support program.
Egypt Earmarks EGP 93.5 bn for Healthcare in FY 2020/21
Minister of Planning and Economic Development Hala El Saeed has uncovered the allocation of EGP 93.5 bn to the Egyptian healthcare sector in the FY 2020/21 budget, reflecting a 28% hike from allotments of the year ...
