It is integral to Egyptian culture to be courteous to foreigners. A conversation, whether business-related or not, is usually accompanied by coffee, tea or juice. Social rules dictate the appropriate way to greet people in business meetings. Close friends of the same sex will sometimes greet with a kiss on each cheek, although a handshake...
SEMIRAMIS INTERCONTINENTAL CAIRO
Corniche El Nil, Garden City, Cairo
T: +20 (2) 2798 8000
www.intercontinental.com
info.semiramisic@ihg.com
Rooms: 721 rooms, including 68 business, junior, executive, Nile and presidential suites with Nile view.
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Egypt’s legal framework outlines restrictions on foreign investment only in specific sectors. These include commercial agencies (which require 100% local ownership), import firms (51% local ownership) and certain activities that require regulatory approvals – irrespective of the nationality of the investor – such as banking and insurance. Companies operating in the Sinai...
Egypt was one of the few economies to witness positive GDP growth in the first two years of the Covid-19 pandemic, fuelled in part by strong consumer spending. According to a November 2021 report from Fitch Solutions, real household spending expanded by around 7% in both 2020 and 2021 – despite the widespread impact of the pandemic, which hit key sectors such as tourism...
Egypt’s economy proved resilient during the Covid-19 pandemic, supported by structural changes associated with an ambitious economic reform programme in the years leading up to the crisis. The country was the only one in the MENA region to record positive GDP growth in 2020, reflective of the government’s emphasis on facilitating business continuity and targeting social...
Despite a successful economic reform programme implemented in 2016, Egypt continues to grapple with a fiscal deficit. In FY 2019/20 Egypt recorded a deficit of LE462.8bn ($29.4bn), the highest since the start of the 2016 reform initiatives. While this figure contracted to LE432.1bn ($27.5bn) in FY 2020/21, it is forecast to expand to LE475.5bn ($30.2bn) in FY 2021/22,...
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