VOL. XLIII

No. 34

21-August-2000

EGYPT

A Boost To Tourism In Egypt Lifts Orascoms Fortunes

Increased tourist arrivals in Egypt have served to boost the fortunes of one of the countrys larger tourist interests, Orascom Hotel Holdings (OHH). On 13 August the company announced an increase in net profits to E0.87mn ($0.25mn) for the first half of 2000, compared with a net loss of E7.7mn ($2.20mn) in the first half of 1999. The increase is largely the result of a 60% year-on-year increase in revenue...