Also on our Radar on 11 April 2021
Economy-class passengers planning international flights on EgyptAir can now keep adjacent seats vacant by booking them at a discounted rate as low as EGP 400 when boarding from Cairo International Airport, the national flag carrier said on Friday. The new service, which is available at check-in counters only, comes as part of plans to boost international travel following the pandemic-induced slump, allowing travellers to increase their personal space just four hours before the scheduled take-off time, provided that the adjacent seat is empty, according to Masrawy.
Other things we’re keeping an eye on this morning:
- The Sovereign Fund of Egypt is partnering with state payments firm E-Finance, the Agricultural Bank of Egypt, and the Internal Trade Development Authority to set up a company that will focus on enhancing financial inclusion among farmers.
- Target Real Estate Investment has more than halved its stake in EGX-listed Real Estate Egyptian Consortium to 11% from 24.5%, selling 5.3 mn shares to individual investors Aly Abdel Latif Mahgoub and Abdel Latif Mahgoub for EGP 84 mn, according to an EGX disclosure (pdf). Beltone Financial’s brokerage arm executed the sale on the OTC market.
- Suez Canal Bank also offloaded most of its 3.06% stake in Mohandes Ins. to an ins. fund for Suez Canal Authority workers in a EGP 33.3 mn transaction executed by Pharos.
- The National Bank of Egypt's Al Ahly Tamkeen has launched its microfinance and electronic payment services in a limited number of branches in Upper Egypt.
- Egypt has sentenced acting leader of the Muslim Brotherhood Mahmoud Ezzat to life imprisonment on terrorism charges, after he faced mandatory re-trial following his arrest last summer.