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High occupancy in Red Sea and South Sinai pre-Eid Al-Fitr: Hotels Chamber

  /  July 27, 2014  /  Business  /  1 Comment

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

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General Authority for Tourism needs restructuring: Egyptian Federation of Chambers of Tourism chairman

and   /  July 26, 2014  /  interviews  /  No Comments

Authority needs change to revitalise incoming tourism, according to consumer studies on the perception of Egyptian tourism abroad

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Finance Ministry expects EGP11bn from special funds and accounts for FY 2014/2015: Ministry official

  /  July 23, 2014  /  Business  /  No Comments

Annual profit deduction of 10% compared to last year’s 20%, to strengthen involvement of governorates in development projects

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Tourism ministry to launch campaign to encourage Europeans to visit Egypt

  /  July 21, 2014  /  Business  /  1 Comment

Tourism authority official says lifting travel warning important step to restore tourism from Europe

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Cotton company asks EGAS to approve debt repayment schedule

  /  July 21, 2014  /  Business  /  2 Comments

Holding Company for Cotton Spinning and Weaving has debts exceeding EGP 1bn, aims to push growth rate to 70% during the current fiscal year

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TDA intensifying financial demands from investors over next fiscal year: Authority CEO

  /  July 20, 2014  /  interviews  /  1 Comment

Tourism Development Authority also demanding reconsideration of allocation decisions for projects that have only been 10% implemented

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5 year timeline for tourism companies to repay debts to social insurance fund: Tourism ministry official

  /  July 19, 2014  /  Business  /  1 Comment

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

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Almasria Universal Airlines considers operating flights to tourist areas at discounted prices: Chairman

  /  July 16, 2014  /  Business  /  1 Comment

Almasria Universal Airlines considers operating flights to Sharm El-Sheikh and Luxor during peak seasons holidays at reduced prices

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EgyptAir to launch flights to Indian capital of New Delhi: Tourism minister

  /  July 15, 2014  /  Business  /  No Comments

Direct route with 3 flights a week from Cairo to New Delhi to begin service in October

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Rise in occupancy to 70% in Red Sea, 55% in South Sinai after German travel warning lift:Tourism minister

  /  July 15, 2014  /  Business  /  1 Comment

Occupancy in tourist accommodations rose after travel warnings lifted in the European market

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Fuel price increases push up restaurant meal pricesby 30%: Tourist Restaurant Chamber

  /  July 14, 2014  /  Business  /  2 Comments

As customers bear the brunt, turnout to restaurants, particularly in Cairo negatively impacted

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Luxor considers establishing EGP 22m plant to generate solar electricity: Governor

  /  July 13, 2014  /  Business  /  1 Comment

Plant’s capacity would stand at 2 MW

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Conversation with Hassan Aziz, President of Egyptian Federation for Private Aviation

  /  July 12, 2014  /  interviews  /  1 Comment

Federation hopes for 10% of total passenger traffic to and from Egypt by end of year

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Tourism companies launch campaign to promote Hajj: Egyptian Travel Agents Assocation

  /  July 12, 2014  /  Business  /  2 Comments

Association launches advertising campaign on four television channels to promote coming Hajj season

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Red Sea tourism rises after Germany lifts travel warning: Hotels chamber

  /  July 12, 2014  /  Business  /  2 Comments

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

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920,000 Egyptian pilgrims will visit Saudi Arabia by end of July: Egyptian Travel Agents Association official

  /  July 9, 2014  /  Business  /  No Comments

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.

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Use of electronic payments to pay taxes increases GNP by 0.75% per annum: eFinance study

  /  July 9, 2014  /  Technology  /  No Comments

Electronic payments for taxes increase GNP by 0.75% per annum due to more liquidity available in the country, the study says

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Germany lifts travel warnings to Sharm El-Sheikh: Chairman of International Tourism

  /  July 8, 2014  /  Business  /  2 Comments

German foreign ministry lifted travel warnings to Sharm El-Sheikh and South Sinai, which may push other European countries to do the same

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Germany to lift travel warnings to Sharm El-Sheikh: German Embassy in Cairo

  /  July 7, 2014  /  Business  /  4 Comments

German Ambassador Hansjorg Haber considers lifting travel warnings to Sharm El-Sheikh very soon, according to statements by Tourism Minister Hesham Zaazou

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PepsiCo targeting expansion in Upper Egypt, Delta: GM, PepsiCo Egypt and North East Africa

  /  July 6, 2014  /  Business  /  2 Comments

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

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Al-Sisi imposes additional 50% tax on cigarettes, 200% on beer

and   /  July 6, 2014  /  Business  /  1 Comment

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.

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Cruise prices to double due to diesel price hike: Tourism ministry official

  /  July 5, 2014  /  Business  /  3 Comments

Ministry official says the increase follows a diesel fuel price rise from EGP 1.10 to EGP 1.8 per litre

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Food prices expected to rise 20% following fuel subsidy cut: Experts

  /  July 5, 2014  /  Business  /  1 Comment

Food products will rise by approximately 20% on higher costs of fuel used for transportation and production, says professor of agricultural economy

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Comesa Trade & Marketing considers establishing waste recycling factory with €40m in investments: Company chairman

  /  July 2, 2014  /  Business  /  3 Comments

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

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We aim to raise eFinance revenues by 15% during 2014: e-finance Chairman

  /  July 2, 2014  /  interviews  /  No Comments

Ibrahim Sarhan, Chairman of e-Finance, says revenues will increase by 15% this year through expansion of existing projects and addition of new products

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Finance ministry considers modifying system for cabinet wages: Minister

  /  July 1, 2014  /  Business  /  1 Comment

Ministry of Finance plans to submit bill to amend wage system for cabinet

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Tax revenues to increase 1.6% in 2014/2015 fiscal year: Finance minister

  /  July 1, 2014  /  Business  /  No Comments

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

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