Rumors on Selling Egypt’s Airports Spread on Social Media

Egyptian Prime Minister Mostafa Madbouly during his recent visit to Borg El Arab Airport in Alexandria (Ministry of Aviation)
Egyptian Prime Minister Mostafa Madbouly during his recent visit to Borg El Arab Airport in Alexandria (Ministry of Aviation)
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Rumors on Selling Egypt’s Airports Spread on Social Media

Egyptian Prime Minister Mostafa Madbouly during his recent visit to Borg El Arab Airport in Alexandria (Ministry of Aviation)
Egyptian Prime Minister Mostafa Madbouly during his recent visit to Borg El Arab Airport in Alexandria (Ministry of Aviation)

Rumors spread on social media in Egypt amid claims that the country’s airports are being sold to foreign parties, prompting the cabinet to deny the reports on Saturday.
In an official statement on its Facebook page, Egypt’s government stressed that the goal is to “offer the management and operation of airports to the private sector.”
According to the Egyptian Council of Ministers, “Egyptian airports are fully owned by the state and subject to Egyptian sovereignty.”
It added that the state is implementing an integrated strategy based on raising the efficiency of airports and increasing their capacity, through a number of infrastructure development projects, as well as upgrading security systems and modernizing all security devices at Egyptian airports.
Additionally, the state is expanding flight networks by opening new markets and supporting low-cost aviation activities, the cabinet underlined in a statement.
Member of Parliament’s Tourism and Aviation Committee, MP Mohamed Taha Al-Khouly, told Asharq Al-Awsat that the government submitted a plan to Parliament last month to allow the private sector to provide some services inside airports.
This matter “will not happen randomly,” but within “an organized framework, and may require legal amendments regarding the controls regulating the private sector companies that will be present to provide some services at Egyptian airports,” he added.
According to the deputy, these services include receiving tourists, organizing the movement of taxis in the vicinity of airports, in addition to providing assistance services upon arrival, and other matters that do not directly or remotely affect Egyptian sovereignty over the airports.
Last month, the Central Bank of Egypt announced an increase in tourism sector revenues by 5.3 percent during the first 9 months of the 2023-2024 fiscal year, reaching $10.9 billion, compared to $10.3 billion in the same period of the previous year.
In 2023, Egypt received about 14.9 million tourists, an increase of 27 percent over 2022, according to a statement by the Egyptian Council of Ministers at the beginning of this year.

 



Morocco’s Royal Air Maroc Scales Back Flights Due to Fuel Costs

 People board a Royal Air Maroc flight on July 15, 2020 at Bordeaux airport. (AFP)
People board a Royal Air Maroc flight on July 15, 2020 at Bordeaux airport. (AFP)
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Morocco’s Royal Air Maroc Scales Back Flights Due to Fuel Costs

 People board a Royal Air Maroc flight on July 15, 2020 at Bordeaux airport. (AFP)
People board a Royal Air Maroc flight on July 15, 2020 at Bordeaux airport. (AFP)

Morocco's state-owned carrier Royal Air Maroc (RAM) said on Saturday it would temporarily suspend several routes to African and European destinations due to ‌rising jet ‌fuel prices, ‌elevated ⁠operating costs and ⁠weak demand.

Tensions in the Middle East have driven a surge in global jet fuel ⁠prices, putting ‌pressure ‌on carriers and ‌prompting temporary route suspensions.

RAM ‌will pause flights linking Moroccan airports with several African cities ‌of Bangui, Brazzaville, Kinshasa, Douala, Yaounde and ⁠Libreville, ⁠the airline said in a statement.

It will also halt flights to the European destinations of Malaga, Barcelona, Lyon, Bordeaux, Marseille and Brussels.


Official: Iraq Has Not Yet Applied for an IMF Loan

A floating oil export platform in Basra port, Iraq (Reuters)
A floating oil export platform in Basra port, Iraq (Reuters)
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Official: Iraq Has Not Yet Applied for an IMF Loan

A floating oil export platform in Basra port, Iraq (Reuters)
A floating oil export platform in Basra port, Iraq (Reuters)

Financial Advisor to the Iraqi Prime Minister Mazhar Mohammed Saleh revealed on Saturday that Iraq has not yet submitted a formal request for a loan from the International Monetary Fund (IMF).

The Iraqi News Agency quoted Saleh as saying that “Iraq enjoys close relations with the IMF, and since 2003, it has concluded more than five agreements, three of which were Stand-by Arrangements, while the other agreements related to emergency support.”

Iran's war has caused significant disruptions in supply chains, especially in the energy sector, which was severely affected by a near-complete closure of the Strait of Hormuz, through which about 20 percent of global oil supplies pass.

Saleh stated that “the Fund has played a significant role in supporting the Iraqi economy over the past 23 years, especially since Iraq is now considered one of the biggest victims of the ongoing war in the region, considering that 85 percent of its oil exports pass through the Strait of Hormuz. This has caused significant harm and international concern, given that Iraq is an important and active member in the stability of the region and world markets.”

He pointed out that there is an Iraqi government team in contact with the IMF, meeting with Fund officials for consultations twice a year.

He clarified that “Iraq signed an agreement with the IMF on July 7, 2016, for a Stand-by Arrangement by providing a significant loan, which played a major role in supporting the general budget,” noting that “signing an agreement with the Fund is a matter decided by the Iraqi government, and this does not prevent consultations between the two parties, as Iraq is a member of this institution responsible for global stability.”

Saleh mentioned that “Iraq will borrow from the International Monetary Fund if the need arises, but there is no formal request from the government yet, and the current need is for the war in the region to stop, and for its geopolitical impacts on oil exports to cease.”

He added that “technical assistance from the IMF is available now, unlike the issue of financing, which requires the approval of a program by the Iraqi government.”

He explained that “the loan itself represents a reform program to support the budget or to achieve social goals, such as supporting the health and education sectors, because it is a human investment that must be subject to conditions defining expenditure directions and commitment to a reform program agreed upon by the Iraqi state and the IMF.”


Mawani Adds CMA CGM’s Ocean Rise Express Service to Jeddah Port

Mawani Adds CMA CGM’s Ocean Rise Express Service to Jeddah Port
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Mawani Adds CMA CGM’s Ocean Rise Express Service to Jeddah Port

Mawani Adds CMA CGM’s Ocean Rise Express Service to Jeddah Port

The Saudi Ports Authority (Mawani) has added CMA CGM's Ocean Rise Express (OCR) shipping service to Jeddah Islamic Port, aiming to strengthen maritime connectivity between Saudi Arabia and global markets, support the smooth flow of supply chains, and increase the efficiency of port operations.

The OCR service will connect Jeddah to key international ports, including Kobe, Nagoya, and Yokohama in Japan; Xiamen, Yantian, and Nansha in China; Rotterdam in the Netherlands; Hamburg in Germany; and Southampton in the United Kingdom.

The route will utilize vessels with a capacity of up to 10,000 TEUs, according to SPA.

This addition aligns with Mawani’s efforts to enhance Jeddah Islamic Port’s global competitiveness and support international trade.

By enabling access to new markets, the initiative reinforces the Kingdom's position as a global logistics hub in line with the National Transport and Logistics Strategy and Saudi Vision 2030.