Economy

Etiquette

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...

Given the recent adverse global developments – and as a continuation of the national structural reform programme first initiated in 2016 – the government of Egypt has undertaken several key reforms aimed at alleviating the impact of inflation while ensuring the economy remains stable.

In an implementation of presidential directives, the support and social protection allocations have been increased to LE356bn ($22.6bn) in the new draft general budget. The Covid-19 pandemic and the challenges brought about by the war in Ukraine have created an unprecedented inflationary wave. This initiative will support the sectors and groups most affected by the current...