Egypt discounts aviation fuel in effort to support tourism

Egypt discounts aviation fuel in effort to support tourism
Egypt revealed a new initiative to reduce the price of aviation fuel to help the tourism sector overcome the challenges created by the pandemic. (File/AFP)
Short Url
Updated 14 January 2021

Egypt discounts aviation fuel in effort to support tourism

Egypt discounts aviation fuel in effort to support tourism
  • Egypt had previously lowered aviation fuel prices last April to support the tourism and aviation sectors
  • In a statement, Al-Molla said that the initiative would be implemented starting Jan. 21 and would remain ongoing until the end of the year

CAIRO: Egyptian Minister of Petroleum and Mineral Resources Tarek Al-Molla revealed a new initiative to reduce the price of aviation fuel to 15 cents per gallon with the aim of helping the tourism and aviation sectors overcome the challenges created by the pandemic.
Egypt had previously lowered aviation fuel prices last April to support the tourism and aviation sectors, following the outbreak of the coronavirus disease (COVID-19).
In a statement, Al-Molla said that the initiative would be implemented starting Jan. 21 and would remain ongoing until the end of the year.
The initiative came after a meeting between Al-Molla, Minister of Tourism and Antiquities Khaled Al-Anani and Minister of Civil Aviation Mohammed Manar Enaba, during which they discussed a number of issues related to supporting the tourism and aviation sectors.
Al-Anani said that the initiative would contribute to tourism to Egypt by motivating international companies to increase the number of flights to Egyptian destinations, while Enaba explained the important role of the petroleum sector in supporting aviation traffic through its initiatives and its provision of aviation fuel at all Egyptian airports.
Enaba emphasized that there was full coordination and cooperation between the three sectors of tourism, aviation and petroleum.


National Housing inks $530m project financing deals for 15,000 homes

National Housing inks $530m project financing deals for 15,000 homes
Updated 19 January 2021

National Housing inks $530m project financing deals for 15,000 homes

National Housing inks $530m project financing deals for 15,000 homes
  • Al Rajhi will finance the development of new housing projects in Riyadh and Jeddah

National Housing Co. (NHC) inked today, Jan. 19, two financing agreements worth SR2 billion ($530 million) with Al Rajhi Bank, it said in a statement.

Under these agreements, Al Rajhi will finance the development of new housing projects in Riyadh and Jeddah, which will provide around 15,000 residential units.

These agreements will also help implement the e-financing platform for the beneficiaries of the Ministry of Housing’s Sakani program.