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Monday, 20 September 2021

We could soon see more German tourists in the Red Sea, Luxor

We could soon see more German tourists in the Red Sea, Luxor: Flights between Germany and Sharm El Sheikh and Luxor could resume by mid-December, an official at the World Tourism Organization has claimed in an interview with Al Mal. WTO economic adviser and member of the UN Economic Commission for Europe Saeed El Batouti doesn’t explain what he’s basing this on, but predicts that tourist arrivals from Germany will reach 60% of 2019 levels this winter and next summer. Earlier this month, the Marsa Alam International Airport received its first German flight in over a year.

Other things we’re keeping an eye on this morning:

  • SODIC snags Russia medical center contract: SODIC will construct a sports medical center in Egypt after signing an MoU (pdf) with the Olympic Council in Kazan, Russia. The council will supply the center with tech used to measure and track athletes’ development.
  • Sanad Fund to finance new NBFS stress test: The Financial Regulatory Authority has reached a final agreement with Sanad Fund to finance 80% of the costs associated with developing a new stress test for non-banking financial services companies.
  • Japan Tobacco International (JTI) will continue producing cigarettes for Eastern Company for another three years after it renewed its contract with the Japanese producer. JTI, which produces 1 bn cigarettes every year for the Egyptian market, said that the renewal of the partnership did not mean that it had pulled out of the tender for a license to set up Egypt’s second tobacco company.

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