: :inin Kyiv (EET)

Section: Egypt

Revolta Egypt to complete electric vehicle charging stations by 2020
May22

Revolta Egypt to complete electric vehicle charging stations by 2020

Revolta Egypt’s founder, Mohamed Mostafa, told Daily News Egypt that the company will be able to charge electric cars everywhere in Egypt by 2020. He explained that the first phase of building electric vehicle charging stations started on 11 February 2018, with the first station on Cairo-Suez Road. The phase also includes establishing 65...

Bullish consensus on Egypt’s economic stabilization: Bank of America Merrill Lynch
Apr24

Bullish consensus on Egypt’s economic stabilization: Bank of America Merrill Lynch

A bullish consensus on the Egyptian economy was expressed at the recent IMF and World Bank annual Spring Meetings in Washington DC about the prospects for emerging markets, according to Bank of America Merrill Lynch’s Emerging Insight report issued on Monday. The report cited Egypt’s meetings as confirming the bank’s view that...

Sector strategy targets 16.6m tourists by 2020
Apr18

Sector strategy targets 16.6m tourists by 2020

The former chairperson of the Egyptian Tourism Federation (ETF), Elhamy El-Zayyat, and member of the board of directors of the Egyptian Chamber Hotel , Haitham Nassar, laid out a strategy to develop the tourism sector within the next two years, in cooperation with Abla Abdullatif, chairperson of the Egyptian Centre for Economic Studies (ECES)....

Russian shares sell off amid sanctions fears
Apr10

Russian shares sell off amid sanctions fears

The ruble has experienced its biggest one-day fall for over two years and stocks in major Russian companies also slid, as investors reacted to a new round of US sanctions targeting some of Russia’s biggest tycoons.The fresh US sanctions announced on Friday, targeting officials and businesspeople around President Vladimir Putin, sent...

Egypt’s tourism expected to recover, backed by growth in tourist arrivals: OBG
Apr03

Egypt’s tourism expected to recover, backed by growth in tourist arrivals: OBG

The Egyptian tourism sector is poised to experience a rebound, despite challenges, leading to a more positive outlook in the near to medium terms, according to Oxford Business Group (OBG)’s Egypt economic update issued on Monday. OBG associated the recovery to the recent uptick in foreign arrivals, as well as the expected boost from the...

Ryanair now flying to Ukraine
Mar24

Ryanair now flying to Ukraine

Irish no-frills carrier Ryanair has said it’s launching its first routes from European cities to Ukraine. The announcement rekindles a deal the airline walked away from last year in the face of alleged protectionism.Ukrainian President Petro Poroshenko and Ryanair CEO Michael O’Leary announced the deal at a briefing at Kyiv’s...

Swiss government lifts freeze on Egyptian assets, keeps Tunisian, Ukrainian assets
Dec21

Swiss government lifts freeze on Egyptian assets, keeps Tunisian, Ukrainian assets

The Swiss Federal Council announced that it will end the freeze on the remaining $436m of frozen Egyptian assets, in a press statement on Wednesday. However, they extended the freeze on both Tunisian and Ukrainian assets. The Swiss Federal Council had frozen both Egyptian and Tunisian assets in the wake of the 2011 Arab spring uprisings and...

Iron in grip of local factories
Dec07

Iron in grip of local factories

Local iron mills now control the iron market after the Ministry of Industry applied anti-dumping duties on iron imports from China, the Ukraine, and Turkey for a period of five years, ending in June 2021, amid objections from importers on the decision. Minister of Industry Tarek Kabil said that the decision followed complaints from local...

2018 tourist season strong, occupancy up 20% since year beginning: Hilton
Nov19

2018 tourist season strong, occupancy up 20% since year beginning: Hilton

Officials at Hilton Group said that performance indicators are recovering as Egypt and Turkey revive their tourist market. They noted that occupancy grew by 20% since the beginning of the year. Carlos Khneisser, Hilton’s vice president of development for MENA and Turkey, said that the Egyptian economy is seeing the currency stabilise, along...

Egyptian exports to France up by 17% in H1 2017
Oct23

Egyptian exports to France up by 17% in H1 2017

Egyptian exports to France increased by 17% in the first half (H1) of 2017, scoring a value of €321.3m, up from €274.9m in H1 2016. According to the latest report of the Economic Department of the French embassy in Egypt, imports from France increased by 11% in the same period, reaching €915.9m, compared to €825.7m. Trade exchange between Cairo...

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