Egyptian Officials Make Local Inspection Tours to Reassure Tourists

A man wearing a face mask is seen in front of the Great Pyramids of Giza after reopening for tourist visits, following the outbreak of the coronavirus disease (COVID-19), in Cairo, Egypt (Reuters)
A man wearing a face mask is seen in front of the Great Pyramids of Giza after reopening for tourist visits, following the outbreak of the coronavirus disease (COVID-19), in Cairo, Egypt (Reuters)
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Egyptian Officials Make Local Inspection Tours to Reassure Tourists

A man wearing a face mask is seen in front of the Great Pyramids of Giza after reopening for tourist visits, following the outbreak of the coronavirus disease (COVID-19), in Cairo, Egypt (Reuters)
A man wearing a face mask is seen in front of the Great Pyramids of Giza after reopening for tourist visits, following the outbreak of the coronavirus disease (COVID-19), in Cairo, Egypt (Reuters)

Egyptian ministers toured various resorts and airports in the country that began receiving visitors earlier this month while maintaining health measures to confront the COVID-19 pandemic.

The government aims to reassure tourists arriving to Egypt over the health situation and the measures taken to contain the pandemic.

Minister of Tourism and Antiquities Khaled Anani and Minister of Civil Aviation Mohamed Manar met with investors in Taba and Nuweiba to discuss proposals to overcome obstacles facing tourism investors in both cities.

Anani stressed that the government spared no effort to promote the tourism sector, considering it a pillar of the national income. He indicated that flights will be resumed in Taba Airport, provided that investors contribute to these flights until tourism returns to its normal levels.

The minister visited Taba and Sharm el-Sheikh airports and inspected the departure and arrival halls, the thermal camera system, and measures for maintaining social distance at the airport.

Sharm el-Sheikh International Airport received more than 3,000 tourists aboard 16 flights from Ukraine and Belarus, since the beginning of July.

Taba Airport is preparing to receive tourists with the first flight arriving from Poland on July 29.

Anani also inspected a number of hotels in Sharm El-Sheikh, Dahab and Nuweiba to ensure that health measures are being followed, as instructed by the Ministry.

The Ministry issued an official statement indicating that the occupancy rate of Dahab reached about 45 percent, most of which are Egyptian visitors. The city has 28 hotels with an occupational capacity of 2,326 hotel rooms, as well as 110 tourist bazaars.

Whereas Nuweiba has 14 hotels, with a capacity of 1,643 rooms, and seven bazaars.

The Minister also reviewed health precautionary measures followed by the hotel upon the guest’s arrival.

He also monitored the procedures on the reception desk and foyer area, as well as all parts of the hotel including the restaurant, kitchen area, swimming pools, and the beach area.



Turkish Stocks Jump as PKK Disbandment Adds to Trade Relief

 People walk on a small street leads that to the historical Galata Tower in Istanbul, Türkiye, April 25, 2025. (Reuters)
People walk on a small street leads that to the historical Galata Tower in Istanbul, Türkiye, April 25, 2025. (Reuters)
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Turkish Stocks Jump as PKK Disbandment Adds to Trade Relief

 People walk on a small street leads that to the historical Galata Tower in Istanbul, Türkiye, April 25, 2025. (Reuters)
People walk on a small street leads that to the historical Galata Tower in Istanbul, Türkiye, April 25, 2025. (Reuters)

Turkish stocks jumped on Monday, bonds climbed and the lira rallied against the euro as news the Kurdistan Workers Party (PKK) militant group was ending its four decade-long insurgency in the country added to US-China trade cheer.

Global share markets were enjoying a strong surge after the US and China agreed to slash tariffs, but Turkish equities outstripped most other bourses as they jumped more than 3%.

A PKK member said it was ceasing all military operations "immediately" following the group's decision to disband, a move that could boost NATO member Türkiye's political and economic stability.

The lira was up 1.3% against the euro and steady against the dollar, while its international market bonds, which have been losing ground for the last six months, were up nearly 0.7 cents.

The PKK decision followed an appeal from its jailed leader Abdullah Ocalan in February to disband. It is set to have far-reaching political and security consequences for the region, including in neighboring Iraq and also in Syria, where Kurdish forces are allied with US forces.

Omer Celik, spokesperson for President Recep Tayyip Erdogan's ruling AK Party, said the PKK's decision to dissolve was "an important step toward a terror-free Türkiye".

There have been intermittent peace efforts over the years, most notably a ceasefire between 2013 and 2015 that ultimately collapsed.

The PKK's move should now give Erdogan the opportunity to boost spending in the mainly Kurdish southeast of Türkiye, where the insurgency has handicapped the regional economy for decades.

Analysts welcomed the PKK move but added a note of caution.

"It can only be good news," said Christopher Granville, managing director of EMEA & Global Political Research at investment advisory firm TS Lombard. "But is it decisive for the difficult Turkish investment case?"

He said the PKK issue was ultimately "secondary" to questions about Türkiye's recent arrest of Erdogan's main political rival, Istanbul Mayor Ekrem Imamoglu, and the broader direction of its macroeconomic policy.

Those concerns have weighed on Turkish markets this year.

MSCI's Türkiye equities index is down more than 13% compared to a near 8% rise in its pan-emerging market index., while lira-denominated government bonds have cost investors more than 8% on a total returns basis.

The cost of insuring Ankara's government debt using Credit Default Swaps (CDS) has also shot up, although Monday's rally saw that ease back.

"A continuation of the pullback (in CDS levels) ... may support banking stocks, which have been the negatively differentiated sector in BIST (Turkish stocks index) in the last 2 months," Garanti BBVA Yatirim's Director Ozgur Yurtdasseven said.

Turkish banking stocks were up 3.8% on the day, but remain more than 16% down on the year in lira terms and more than 20% in dollar terms.