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Cairo, Al Khobar selected as touristic hotspots with 15%, 9% forecasted growth respectively: Colliers

Cairo hotels were named touristic hotspots by Colliers International, with a forecasted growth of 15% in revenue per available room (RevPAR). According to Colliers’ the MENA Hotel Forecast May 2018 report. The witnessed increase was driven by occupancy boosted by the growth in the corporate, MICE (meetings, incentives, conventions, and events), and leisure segments. In …

Daily News Egypt

Loans: Who is to blame?      

The government borrows money to meet its short- or long-term needs when there is a budget deficit. This is called debt. So, debt is a bill paid by coming generations in cases of obtaining loans for the purpose of narrowing a budget deficit without aiming to finance development projects. Or it may be a bill …

Ahmed Ezz

Ramadan in Ivory Coast

Ivory Coast, also known as Côte d’Ivoire, is located on the Atlantic coast in West Africa. It is famous for ivory, cocoa, and elephants. Its capital since 1983 has been Yamoussoukro, while Abidjan was the capital before that since 1933, and is still its economic capital. Ivory Coast was named as such because of the …

Daily News Egypt

Uzbekistan: Jewel of Central Asia

Uzbekistan is one of the Islamic federal republics that were part of the former Soviet Union. Tashkent is the capital city of Uzbekistan. Uzbekistan is divided into twelve autonomous provinces, many of which have a rich Islamic history. The Uzbek language is one of the Turkic languages and is Uzbekistan’s only official state language. Since …

Tamer Farhat

Uzbek businesspersons aim to enhance cooperation with Egypt in the field of investment and trade: Ambassador

Uzbekistan is the largest country in Central Asia with a great Islamic history. It is the country of Imam Al-Bukhari, Imam Al-Naqshabandi, scientist Al-Khawarizmi, and many others who are loved by Egyptians. From Uzbekistan came Ahmed bin Tulun, the establisher of the Tulunid dynasty. Cairo’s Azbakeya neighbourhood was named after its people. After leaving communism …

Tamer Farhat

NBE, BM, Banque du Caire to cover tourism companies’ expenses for Hajj

The National Bank of Egypt, Banque Misr, and Banque du Caire officials met with representatives of the Ministry of Tourism and the head of the religious tourism committee of the Egyptian Travel Agencies Association (ETAA). During the meeting, they agreed to have the three banks secure the needed Saudi riyals to cover the expenses of …

Hossam Mounir

Khebrat launches technology solutions for developers, engineering consultancy offices based on BIM 360 software

As a partner of Autodesk International, the world leader in 3D design in all engineering fields, particularly architecture and construction, the company Khebrat is offering a range of technology solutions that stimulate real estate developers and engineering consultants to expand their services and enhance their competitiveness in terms of digital transformation in management and follow-up …

Daily News Egypt

Parliament approves cybercrimes law

A plenary session of parliament, chaired by Speaker Ali Abdel Aal, approved the cybercrimes law on Tuesday. Parliament rejected a proposal to amend the second and 24th article during the discussion. After the debate, Abdel Aal announced a final vote on the bill, after which he announced the house’s approval, with a single rejection. The …

Daily News Egypt

Xiaomi ranks 3rd in world mobile sales in May

Xiaomi ranked third on the list of the world’s top smartphone sellers during May, following Apple and Samsung, the global smartphone market share of which fell slightly last month to 30.15% from 30.7% in April. Despite the decline, Samsung continued to dominate global sales. According to a report by StatCounter, Apple ranked second in terms …

Daily News Egypt

Apple slips to 41% of tablet sales in Egypt

Apple’s tablet market share slipped to 41.13% of device sales in May compared to 47.13% in April, bringing the company’s market share down 6%. According to a StatCounter report, Samsung followed on the list with a share of 39.2% of market sales in May, up from 34% in April, marking a growth of 5%. According …

Mohamed Alaa El-Din

Egypt PMI back to contraction in May: Emirates NBD

Egypt’s non-oil private sector activity continued to shrink in May to reach 49.2 points, down from 50.1 points in April. Nonetheless, the Purchasing Managers’ Index (PMI) score for May remained well above the long-term average, according to the latest Emirates NBD Egypt Purchasing Managers’ Index survey, published on Tuesday. However, according to the survey, there …

Mohamed Samir

Nokia sells 79m devices in 80 countries: Nokia Egypt general manager

Tamer ElGamal, general manager of Nokia Egypt, said that during 2017, the company adopted a strategy to provide the most up-to-date technology to users, including in screens and ease of use, along with better cameras and large batteries. On the sidelines of Nokia’s launching ceremony for a number of new products, ElGamal said that the …

Daily News Egypt

Parliament approves FY 2018/2019 budget

The Egyptian Parliament approved on Tuesday the fiscal year 2017/2018 general budget with a total expenditure of up to EGP 1.4tn and expected revenues of EGP 938bn. The budget deficit reached 8.4%, while the growth rate stood at 5.8%, driven by new employment opportunities provided by private sector investments, amounting to about 850,000 jobs. MP …


EGX loses EGP 22bn Tuesday morning, closes with EGP 15.5bn losses

The Egyptian Exchange (EGX) plunged on Tuesday morning, losing around EGP 22bn in market capital, recording EGP 906bn in total. The losses were driven by random selling from foreign and Arab companies, as well as investment funds. However, the EGX closed after falling into the red zone, losing about EGP 15.5bn, and recording EGP 912.127bn. …

Daily News Egypt

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