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Tuesday, 7 February 2023

More private-sector involvement in the aviation industry?

TRANSPORT-

Egypt’s aviation sector could see more private-sector involvement: State-owned flag carrier EgyptAir will work more closely with private-sector airlines as the government looks to attract private investment into the sector, Civil Aviation Minister Mohamed Abbas said yesterday. This came during a meeting between the heads of private-sector aviation companies and ministry officials yesterday.

No plans to privatize EgyptAir: The cabinet last week denied having plans to sell off the company in response to rumors circulating online.

DEBT WATCH –

Hyde Park Developments in talks with NBE for EGP 3.5 bn loan: Hyde Park Developments is seeking a EGP 3.5 bn loan from the National Bank of Egypt (NBE) to finance two of its residential projects, Asharq Business reports, citing banking sources it says have knowledge of the deal. Some EGP 1.2 bn would be used to finance the state-owned developer’s Sixth of October project, with the remaining EGP 2.3 bn to be directed to the company’s North Coast project.

AGRICULTURE-

Gov’t to increase cultivation of oilseed crops amid localization push: The government plans to more than triple local production of soybeans and sunflowers by 2024 in a bid to localize the vegetable oil industry, according to a cabinet statement yesterday. The area used to cultivate soybeans will rise to 500k acres in 2024 from 150k this year, while acreage used for sunflowers will grow to 250k from 90k, Prime Minister Mostafa Madbouly said in a cabinet meeting.

TELECOMS-

Eh? Network quality has improved? The number of areas of the country affected by mobile voice quality issues was down 34% y-o-y in 4Q 2022, while the number experiencing mobile data quality problems fell 41%, according to the National Telecommunications Regulatory Authority’s (NTRA) quarterly complaints report. Mobile internet use was up nearly fourfold y-o-y for the quarter, while callers made some 3 bn calls using voice-over-LTE (VoLTE) technology, a 3x jump over the same period last year.

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