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You are here:  Home  >  Articles by Abdel Razek Al-Shuwekhi
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High accident rates threaten Red Sea tourism: Ministry official

  /  January 28, 2015  /  Business  /  No Comments

Accident rates increased 200% over the past four years due to lack of ministerial oversight on diving and other tourist services

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Red Sea, South Sinai hotels stable on 25 January anniversary: Official

  /  January 25, 2015  /  Business  /  1 Comment

Occupancy rates in the Red Sea and South Sinai stabilised at approximately 55%, but decreased to less than 25% in Cairo

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Bright Sky Travel tourism numbers grow 25% during 2014: General manager

  /  January 21, 2015  /  interviews  /  No Comments

Blue Sky Group tourists during 2014 placed at 570,000 tourists

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Travco tops tourism companies, attracting 700,000 arrivals in 2014: Company official

  /  January 21, 2015  /  Business  /  No Comments

Travco hopes to maintain its lead in attracting tourists to Egypt for fifth consecutive year despite 4 years of crisis in the country

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EGP 5bn tax proceeds to E-Finance over 5 years: Company chairman

  /  January 20, 2015  /  Business  /  No Comments

E-Finance working to increase online proceeds from taxes in near future, to increase economic growth rates

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EGP exchange rate drops against dollar

  /  January 19, 2015  /  Business  /  No Comments

Dollar exchange rate is up 10 piasters in 2 days in Egyptian banks following latest auction by CBE on Sunday to sell $40m at EGP 7.1901 per dollar

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Al-Sisi in Abu Dhabi for high-stakes energy summit

  /  January 18, 2015  /  Egypt, Politics  /  No Comments

UAE allocated more than $10bn in development aid to Egypt in 2014 alone, says Emirati Embassy in Cairo

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Sinai safari trips require downgraded security and lower fees: Tourism company head

  /  January 14, 2015  /  interviews  /  No Comments

Trips in region suffer from lengthy licensing waiting periods and high fees

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Hotels to offer 20% discounts during mid-year holiday to attract Egyptians

  /  January 14, 2015  /  Business  /  1 Comment

Hotels hope to attract Egyptians to raise occupancies and make up for the current decline in foreign flow

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Investment ministry receives EGP 500m offer from UAE company to develop Shepheard Hotel: Official

  /  January 14, 2015  /  Business  /  No Comments

Ministry plans to develop its hotels through a tender for development with investors and making use of assets in the coming period

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Russian tourists visiting Egypt exempt from entrance fees: Interior ministry

  /  January 14, 2015  /  Business  /  No Comments

Egypt strives to reduce negative effects of rouble devaluation on tourist inflows from Russia

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60 local, international entities to review new investment law: Minister

and   /  January 14, 2015  /  Business  /  No Comments

Current draft not final, may be subject to revision based on ongoing consultations with business community, Ashraf says

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Electricity ministry to provide additional 3,600 MW next summer against increased consumption

  /  January 13, 2015  /  Business  /  No Comments

Consumption increases during summer months with temperature increase, loads on network surpass 27,000 MW, leading to deficit of 6,000 MW

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CI Capital seeks $150m investment from direct investment fund with Duet Group : Investment banking head

  /  January 11, 2015  /  Business  /  No Comments

CI Capital expects two other offerings to take place this year, in addition to his company acquiring a financial advisory role for a number of acquisition and merger deals.

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Business sector unready for privatisation, restructuring to take place: Investment minister

  /  January 11, 2015  /  Business  /  No Comments

Investment ministry hopes to restructure business sector in preparation for tender operations on stock market, bringing them out of the red

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The government banking sector is full of talent: Al Baraka Bank Egypt Financial Adviser

  /  January 10, 2015  /  interviews  /  No Comments

Some government banking talent has migrated to private banks, hoping to gain higher wages than the maximum EGP 42,000 imposed by the government

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Investors issue note to tourism minister refusing Red Sea ports coal expansion: TIA chairman

  /  January 7, 2015  /  Business  /  2 Comments

The Tourism Investors Association (TIA) in the Red Sea and Ain Sokhna will issue a note to the Tourism Ministry regarding damage from imports of coal. The Ministry of Transportation has been using ports along read the rest…

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Agriculture minister to meet textile, weaving entities Thursday: Chamber official

  /  January 6, 2015  /  Business  /  No Comments

Various topics on the table for discussion, including government decision cutting cotton crop subsidies

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Tourism ministry subsidises EgyptAir Paris-, London-Luxor flights: Advisor

  /  January 5, 2015  /  Business  /  No Comments

Ministry plans to raise tourist flow from Western Europe to Luxor and Aswan through EGP 1,000 subsidy on EgyptAir flights from London and Paris

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Government will finalise studies on Golden Triangle funding this month: IDA Chairman

  /  January 4, 2015  /  Business  /  1 Comment

Implementation set to begin during the economic summit in March

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2013 tourism crises continued into 2014: Experts

  /  January 3, 2015  /  Business  /  No Comments

2014 inherited same crises faced by sector as 2013, including active labour migration and low occupancy

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Nuweiba-Taba Investors Association demands Al-Sisi solves issues: Tourism Association Chairman

  /  December 30, 2014  /  Business  /  2 Comments

Despite low tourism numbers in the area, the Ministry of Social Solidarity demands that hotels pay for insurance dues as per a May agreement between Egypt Tourism Workers Union and the ministries of Social Solidarity and Tourism.

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Hotel occupancies increase at 60% in Hurghada and Sharm El-Sheikh: Ministry official

  /  December 29, 2014  /  Business  /  1 Comment

Christmas season saw increase in Red Sea area tourism occupancies, occupancies in Taba, Nuweiba, Cairo, Luxor, and Aswan low

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General Authority for Industrial and Mining Projects to finish seven logistical areas in Q1 2015: Official

  /  December 28, 2014  /  Business  /  1 Comment

Authority aims to establish 13 industrial areas to achieve fair investments distribution between governorates during coming months

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Government to put forward tender to develop Safaga Mining Port for investors: Industrial head

  /  December 27, 2014  /  Business  /  No Comments

Ministry of Industry and Foreign Trade working to develop Safaga Mining Port at cost of EGP 30bn, to increase the commercial and industrial activity in southern Egypt

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‘I sold 19 acres plus my car to be able to keep the hotel running for 4 years’: Hotel Chairman

  /  December 24, 2014  /  interviews  /  3 Comments

Utopia Hotel has no occupancies, with EGP 1.5m losses and demand from government and banks is increasing, says Shalaby

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‘Hotels are closed in Taba and Nuweiba due to low occupancy’: Regional Prime Guides Investors Association

  /  December 24, 2014  /  interviews  /  2 Comments

Association warned against shut downs and converting hotels to shelters for outlaws, thus loss of investments worth EGP 10bn

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‘Closure of hotels makes them vulnerable to robbery’: Hotel manager

  /  December 24, 2014  /  Business  /  1 Comment

Tourist investors in Taba and Nuweiba call for attention to their projects before they close down

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Nuweiba-Taba investors request postponement of insurance premiums payment to end of 2015: Association Chairman

  /  December 23, 2014  /  Business  /  1 Comment

Decline of Tourism in Nuweiba-Taba led to hotels and companies’ inability to pay insurance dues

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Ministry of Tourism finalises studies for March economic summit: Chairman of TDA

  /  December 22, 2014  /  Business  /  No Comments

Tourism Development Authority projects hope to attract investments worth EGP 5bn

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