#Egypt

Egypt’s ‘lost city’ may be new boon for tourism

The discovery of a 3,000-year-old city may just be the impetus required for Egypt’s tourism

Abu Dhabi’s Aldar considering more deals in Egypt real estate

The developer may invest between $1bn to $1.5bn in the next 12- to 18 months on acquisitions abroad and at home

Egypt passenger train crash kills 11, injures 98

The incident was the third railway incident in Egypt in a month

Egypt seizes Suez Ship ‘Ever Given’ pending $900m compensation

The Suez Canal Authority has said compensation is needed to cover losses of transit fees

Suez Canal authorities say backlog of ships is now cleared

Overall, 422 vessels passed through since the tanker was freed on March 29

Bausch Health to sell Amoun unit to ADQ for $740m

ADQ is now Abu Dhabi’s third-largest sovereign wealth fund

Suez Canal reopens to traffic after giant ship is freed, operations to return to normal ‘within days’

Hundreds of vessels carrying everything from oil to livestock were forced to wait in line after the Ever Given became stuck in the canal

Container ship Ever Given is seen at the Suez Canal on March 28, 2021

Giant ship blocking Suez Canal ‘partially refloated’

Ever Given has been stuck since Tuesday, causing a backlog of hundreds of ships and snarling global supply lines

Aldar offers to buy stake in Egypt’s Sodic; shares climb

The offer values the Egyptian property developer at about $420m

Air Arabia

Air Arabia Egypt to launch direct flights from Cairo to Muscat

The carrier will launch a twice-weekly service between Cairo to Muscat, starting March 11, 2021

Wizz Air Abu Dhabi to commence flights to Egypt, fares start from Dhs49

A total of 2,500 tickets priced at Dhs49, are on sale from February 17-18, on the airline’s website and mobile app

AlUla agreement: What does resetting ties with Qatar mean for the GCC region?

The resumption of ties with Qatar by Saudi Arabia, the UAE, Bahrain and Egypt will boost the regional economy with certain sectors set to witness a significant impact

Wizz Air Abu Dhabi

Wizz Air Abu Dhabi to begin flights to new destination in Egypt this month

One way fares from Abu Dhabi to Alexandria begin from Dhs182

Abu Dhabi’s Aldar Properties announces new operating model to drive growth

Aldar Investment and Aldar Development will be led by their own CEOs – Jassem Busaibe and Jonathan Emery, respectively

SAP trains hundreds of Egyptian youths in digital skills

SAP supports government-led Digital Egypt vision to train 100,000 youth in digital skills

Over $1bn piled into MENA-based startups in 2020

The UAE, Egypt and Saudi Arabia accounted for 68 per cent of the total deals disclosed in 2020

Mashreq-Bank

Dubai bank Mashreq may move nearly half its jobs to cheaper hubs

The relocation plan is expected to be completed in three phases by October this year

Gulf Arab states agree to restore Qatar ties, end three-year rift

Qatar’s ruler Emir Sheikh Tamim bin Hamad Al Thani landed in the kingdom to a warm embrace from the Saudi Crown Prince

Quick Holiday Travel

Revealed: Five countries you can currently travel to from Dubai within six hours

Travelling to a nearby country for the Christmas weekend would be an ideal getaway for many looking for a change of scenery

Five key stages for developing the tourism sector across the Middle East

Tourism is essential for economic diversification, growth, and job creation

Saudi, Abu Dhabi wealth funds team up on Egyptian drugmaker deal

Public Investment Fund and ADQ are weighing the purchase of Bausch Health’s Cairo-based drug unit

Egypt-based FMCG giant picks SAP to run distribution, sales

EDITA rolls out SAP Direct Store Delivery (DSD) Mobile Android Solution 2.0

Saudi non-oil private sector business activity improves to highest in 8 months

However, employment numbers dropped at the fastest rate since June

Egypt’s biggest listed bank slumps after chairman steps down

The stock fell as much as 10 per cent to trade at EGP60.10 pounds before paring the decline to 7.2 per cent at close

Abu Dhabi’s ADQ partners with Lulu International Holdings for Egypt expansion

ADQ and LIHL will work to collectively develop up to 30 hypermarkets and 100 express minimarket stores

Abu Dhabi wealth fund ADQ said to pursue Bausch’s Egypt unit

ADQ has been evaluating the Bausch business, known as Amoun Pharmaceutical Co

Air Arabia

Air Arabia announces new service from Ras Al Khaimah

It also confirmed that it will resume flights to several destinations across Pakistan, Egypt and Bangladesh from Ras Al Khaimah

Ericsson R&D hub in Egypt ships first locally-developed AI software

Cognitive software reduces complexity in network operations

UAE’s Al Habtoor Group completes preparations for Cairo office

The office will act as a liaison unit, and will be tasked with finding opportunities in the local market

Egypt prepares to issue region’s first green sovereign bond

Egypt seeks to raise $500m from the offering