Maghreb Edition

Egypt: Cairo has two new airportsF

Posted On 30 June 2020

Number of times this article was read : 553

President Abdel Fattah al-Sisi on Monday inaugurated two more airports near Cairo in a bid to lure tourists as Egypt aims to recover from the economic downturn caused by coronavirus. One airport is in Egypt’s new administrative capital, about 50 kilometres (30 miles) to the east, that the government hopes to turn into a hub that reduces traffic in the sprawling 20-million strong megacity of Cairo. The other is called Sphinx Airport in Giza, south of the capital. Both will soon handle flights from abroad, in addition to Cairo international airport, after authorities announced the return of all commercial flights starting 1 July.

Sisi also unveiled the restored Baron Empain Palace in eastern Cairo, built by wealthy Belgian industrialist Edouard Empain between 1907 and 1911. The architectural masterpiece is constructed in a style reminiscent of the Cambodian Hindu temple of Angkor Wat set amid lush gardens. The facelift which began in 2017 cost over $6 million.

The spree of openings come after Egypt officially ended a three-month nighttime curfew on Saturday. Cafes and shops have re-opened but public beaches and parks remain closed as part of measures to curb the spread of coronavirus. Egypt has recorded more than 65,000 COVID-19 cases including over 2,700 deaths.

AFP

Subscribe to Urgent Notifications and Newsletter

Most Recent Stories from the Region

Global Energy Markets Jolt as Iran War Disrupts Gulf Oil FlowsF

Oil prices surged toward $119 per barrel as the conflict involving Iran disrupted tanker traffic through the Persian Gulf, forcing several Gulf producers to reduce output and pushing governments to consider emergency energy measures. Saudi Arabia joined Iraq, Kuwait, Qatar, and the UAE in cutting production as shipments stalled and storage capacity tightened. With hundreds of tankers idling near the Strait of Hormuz and major shipping insurers suspending coverage, the crisis is rapidly evolving from a regional military conflict into a global energy shock.

Energy Markets Are Reacting to Iran, But Not Panicking Yet✓

Energy markets often react before the rest of the economy when geopolitical crises erupt. Oil has surged toward $90 per barrel as traders price the risk of disruption around the Strait of Hormuz, while European natural gas remains relatively calm but structurally exposed through LNG shipping routes. Together, the charts suggest markets are pricing risk, not yet a supply shock, as the conflict involving Iran enters its early phase.

Morocco’s Deficit Widens in Trade With Turkey$

Trade between Turkey and Morocco has accelerated sharply, surpassing $5 billion in recent exchanges and strengthening Ankara’s position in the Moroccan market. While the expansion reflects deeper economic integration, Moroccan policymakers are seeking investment-based solutions to address a widening trade imbalance and position the country as a regional production hub ahead of the 2030 World Cup.

Written by The North Africa Journal

The North Africa Journal is a leading English-language publication focused on North Africa. The Journal covers primarily the Maghreb region and expands its general coverage to the Sahel, Egypt, and beyond, when events in those regions affect the broader North Africa geography. The Journal does not have any affiliation with any institution and has been independent since its founding in 1996. Our position is to always bring our best analysis of events affecting the region, and remain as neutral as humanly possible. Our coverage is not limited to one single topic, but ranges from economic and political affairs, to security, defense, social and environmental issues. We rely on our full staff analysts and editors to bring you best-in-class analysis. We also work with sister company MEA Risk LLC, to leverage the presence on the ground of a solid network of contributors and experts. Information on MEA Risk can be found at www.MEA-Risk.com.