NIB funds EGP 270m in public housing projects this year: Board Member
National Investment Bank looks to finance housing projects in framework of state support for social housing projects
Abdel Razek Al-Shuwekhi
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Latest by Abdel Razek Al-Shuwekhi
High occupancy in Red Sea and South Sinai pre-Eid Al-Fitr: Hotels Chamber
Occupancies in the Red Sea increased to 70% and South Sinai to 50% before Eid Al-Fitr, expected to rise to 90% and 80% respectively
General Authority for Tourism needs restructuring: Egyptian Federation of Chambers of Tourism chairman
Authority needs change to revitalise incoming tourism, according to consumer studies on the perception of Egyptian tourism abroad
Finance Ministry expects EGP11bn from special funds and accounts for FY 2014/2015: Ministry official
Annual profit deduction of 10% compared to last year’s 20%, to strengthen involvement of governorates in development projects
Tourism ministry to launch campaign to encourage Europeans to visit Egypt
Tourism authority official says lifting travel warning important step to restore tourism from Europe
Cotton company asks EGAS to approve debt repayment schedule
Holding Company for Cotton Spinning and Weaving has debts exceeding EGP 1bn, aims to push growth rate to 70% during the current fiscal year
TDA intensifying financial demands from investors over next fiscal year: Authority CEO
Tourism Development Authority also demanding reconsideration of allocation decisions for projects that have only been 10% implemented
5 year timeline for tourism companies to repay debts to social insurance fund: Tourism ministry official
Ministry of Social Solidarity has given tourism operators and hotel establishments a 6 month deadline to pay workers’ insurance debts; total debts to be paid in installments over 5-year period
Almasria Universal Airlines considers operating flights to tourist areas at discounted prices: Chairman
Almasria Universal Airlines considers operating flights to Sharm El-Sheikh and Luxor during peak seasons holidays at reduced prices
EgyptAir to launch flights to Indian capital of New Delhi: Tourism minister
Direct route with 3 flights a week from Cairo to New Delhi to begin service in October
Rise in occupancy to 70% in Red Sea, 55% in South Sinai after German travel warning lift:Tourism minister
Occupancy in tourist accommodations rose after travel warnings lifted in the European market
Fuel price increases push up restaurant meal pricesby 30%: Tourist Restaurant Chamber
As customers bear the brunt, turnout to restaurants, particularly in Cairo negatively impacted
Luxor considers establishing EGP 22m plant to generate solar electricity: Governor
Plant’s capacity would stand at 2 MW
Conversation with Hassan Aziz, President of Egyptian Federation for Private Aviation
Federation hopes for 10% of total passenger traffic to and from Egypt by end of year
Tourism companies launch campaign to promote Hajj: Egyptian Travel Agents Assocation
Association launches advertising campaign on four television channels to promote coming Hajj season
Red Sea tourism rises after Germany lifts travel warning: Hotels chamber
Hotel occupancies rose to 80% in Hurghada and 35% in Sharm El-Sheikh as a result of Germany’s foreign ministry lifting travel warnings, says vice president of Chamber of Hotels
920,000 Egyptian pilgrims will visit Saudi Arabia by end of July: Egyptian Travel Agents Association official
El-Sisi predicted the number of Egyptian pilgrims to reach 920,000 by the end of Ramadan in light of widespread interested in Umrah trips throughout the holy month.
Use of electronic payments to pay taxes increases GNP by 0.75% per annum: eFinance study
Electronic payments for taxes increase GNP by 0.75% per annum due to more liquidity available in the country, the study says
Germany lifts travel warnings to Sharm El-Sheikh: Chairman of International Tourism
German foreign ministry lifted travel warnings to Sharm El-Sheikh and South Sinai, which may push other European countries to do the same
Germany to lift travel warnings to Sharm El-Sheikh: German Embassy in Cairo
German Ambassador Hansjorg Haber considers lifting travel warnings to Sharm El-Sheikh very soon, according to statements by Tourism Minister Hesham Zaazou
PepsiCo targeting expansion in Upper Egypt, Delta: GM, PepsiCo Egypt and North East Africa
The global food and beverage company seeks to expand its operations in Upper Egypt and the Delta to increase its sales as signs of stability grow in Egypt
Al-Sisi imposes additional 50% tax on cigarettes, 200% on beer
The tax on other alcoholic beverages, such as wine and spirits manufactured locally or imported from abroad, has been increased by 150%, with the minimum set at EGP 15 per litre.
Cruise prices to double due to diesel price hike: Tourism ministry official
Ministry official says the increase follows a diesel fuel price rise from EGP 1.10 to EGP 1.8 per litre
Food prices expected to rise 20% following fuel subsidy cut: Experts
Food products will rise by approximately 20% on higher costs of fuel used for transportation and production, says professor of agricultural economy
Comesa Trade & Marketing considers establishing waste recycling factory with €40m in investments: Company chairman
Daily News Egypt is republishing this article because Comesa Trade & Marketing was incorrectly referred to as the Common Market for Eastern and Southern Africa (COMESA) in the original publication
We aim to raise eFinance revenues by 15% during 2014: e-finance Chairman
Ibrahim Sarhan, Chairman of e-Finance, says revenues will increase by 15% this year through expansion of existing projects and addition of new products
Finance ministry considers modifying system for cabinet wages: Minister
Ministry of Finance plans to submit bill to amend wage system for cabinet
Tax revenues to increase 1.6% in 2014/2015 fiscal year: Finance minister
Ministry of Finance expects tax revenue increases of EGP 6bn or 1.6% due to amendments to real estate and income tax laws, as well as new taxes on stock dividends and distributions