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Egypt’s tourism revenues do not match existing resources: MP

MP Mohamed Abdo said that tourism revenues in Egypt are still small and do not equate to the industry’s potential and resources. Abdo added that the sector includes many negatives to be solved, especially the congestion at Cairo International Airport, which he said harms the sector at home and abroad. Abdo urged holding a meeting …

Daily News Egypt

Qalaa revenues increase 22% y-o-y in FY 2016/17 to reach EGP 9.3bn

Qalaa Holdings announced on Tuesday a 22% year-over-year increase in revenues in fiscal year (FY) 2016/2017, to reach EGP 9.3bn, due to the favourable economic trends along with its energy subsidiaries’ strong growth. The consolidated financial results cite top-line performance achieved by TAQA Arabia and Tawazon, and increased competitiveness at ASCOM’s mining subsidiaries; FY 2016/2017 …

Mohamed Samir

Telecom Egypt total revenues increased 33%

Telecom Egypt (TE) announced its financial results for the year 2017, according to consolidated financial statements prepared in accordance with Egyptian accounting standards. The company achieved unprecedented financial and operational performance, especially after the successful launch of its WE mobile network. The company’s total consolidated revenues for the fiscal year (FY) that ended on 31 …

Daily News Egypt

EGP 179.2bn value of state revenues in four months

During the first four months of the fiscal year 2017/2018, state revenues amounted to EGP 179.2bn, the Central Agency for Public Mobilisation and Statistics (CAPMAS) said. In a recent report on the state’s total revenues and receipts during the period from July to October 2017, the CAPMAS pointed out that tax revenues accounted for the …

Daily News Egypt

Egyptian museums achieve revenues of EGP 45m in 2016

The Ministry of Antiquities’ affiliated museums have achieved total revenues of $45m with 974,400 visitors in 2016. According to a statement by the ministry’s museums division, the museums achieved the highest revenues in December, recording EGP 6.8m with 117,000 visitors, while the lowest revenue reached was $1.7m in June with 21,800 visitors. Minister of Antiquities …

Basma Ragab

Blue Sky Travel Agency loses quarter of its revenues in 2016

Hossam El-Shaer, chairperson of Blue Sky Travel Agency, said that the company’s revenues dropped by a quarter in 2016 compared to 2015. He attributed the fall to the low tourism inflow from Europe, following the tragic incident of the Metrojet Russian airliner crash at the end of October 2015. The incident has prompted Russia to …

Abdel Razek Al-Shuwekhi

Hotel revenues per available room forecasted to grow by 8% between December, February in Cairo: Colliers 

Cairo hotels continued to show a strong performance despite the recent devaluation of the local currency. The continued surge in revenues per available rooms (RevPAR) is a result of the increasing Average Daily Rates (ADR), according to Colliers International’s MENA Hotel Forecasts December 2016 report. Consequently, hotel profitability rates are expected to further enhance. According …

Mohamed Samir