Section: Egypt
Tourism investors owe $180m to government
The Ministry of Tourism’s dues for lands allocated to hotel and resort projects amounted to $180m until the end of last year. A senior government official told Daily News Egypt that 600 investors have obtained land plots from the Ministry of Tourism over the past years and failed to pay the lands’ instalments due to low tourist...
Ukrainian ambassador meets Egyptian officials to boost bilateral cooperation
Ambassador of Ukraine to Egypt Yevhen Mykytenko has met three Egyptian officials recently, including Minister of Higher Education and Scientific Research, Khaled Abdel Ghaffar; Minister of Public Enterprises, Hisham Tawfik; and Minister of Military Production, Mohamed Al-Assar. Mykytenko discussed with Abdel Ghaffar several issues of common...
LNA took down 8 Turkish drones near Tripoli
The Libyan National Army managed to shoot down on Sunday a Turkish drone that is affiliated to the Government of National Accord (GNA). The drone was targeted by the air defence forces of the Libyan national army while it was hovering in the suburbs of the Libyan capital of Tripoli. According to the media centre of the military operation of...
Steigenberger to open new hotels in Taba, Luxor by year-end
Deutsche Hospitality, represented in Egypt by the Steigenberger brand, is to open two new hotels; one in Taba in South Sinai and the other in Luxor, by the end of the year, according to Thomas Willms, CEO of Deutsche Hospitality. The planned Taba hotel to include 398 rooms, while there will be 281 rooms in the Luxor hotel, Willms told Daily News...
Government intends to borrow EGP 522bn in Q1 of FY 2019/20
Figures obtained by Daily News Egypt indicate that the government intends to expand the borrowing from the local debt market to bridge the chronic deficit in the state budget significantly during the first quarter (Q1) of the fiscal year (FY) 2019/20. According to those figures, the ministry of finance intends to offer treasury bills (T-Bills)...
Egypt-Ukraine trade exchange likely to remarkably hike by end of 2019
Egypt’s trade exchange with Ukraine is expected to remarkably hike by end of 2019, Yevhen Mykytenko, the Ukrainian ambassador said, adding, “the trade in goods was $1.65bn in 2018. I was astonished to know that Ukrainian exports to Egypt increased by 26.8% reaching $652m in the first quarter (Q1) of 2019.” The Q1 statistics put Egypt in the...
Ukraine ranks 2nd in top 10 tourism exporters to Egypt in 2018: Al-Mashat
The Ukraine came in second place in the list of top 10 exporters of tourism to Egypt in 2018, according to Minister of Tourism, Rania AL-Mashat. During 2018, the number of tourists coming to Egypt reached 11.346 million, who spent 121.497 million tourist nights, according to a statistic on the tourism movement to Egypt issued by Economic...
Polish minister pops ‘what if’ question over US gas plans
Some EU states believe US gas exports are good but those of Russia less so. What happens if prices dictate US exports to go elsewhere? At the European Economic Forum this was controversially discussed, says Jo Harper.”With the market prices for contracts recently signed by the Polish oil and gas company PGNiG, so far so good,”...
Turkey’s illegal drilling in Cyprus’ EEZ revives geopolitical rivalries in Eastern Mediterranean
The countries of the eastern Mediterranean are on course for some choppy waters. Following Turkey’s announcement on May 6, that its ships would continue to explore for oil and gas in an area of the sea that Cyprus considers to be part of its Exclusive Economic Zone (EEZ). The move was denounced by the Cypriot Foreign Ministry on Saturday,...
Egyptian government has begun to protect local industry, expect to increase anti-dumping cases in 2018: WTO
A government source told Daily News Egypt that the Ministry of Trade and Industry is expected to issue a decision to impose a permanent fee on imports of steel pallets for three years, which he considered sufficient, to protect the local market and ensure price stability after the end of the investigation period on Egyptian imports of steel and...
