Home

Welcome to the Cyprus Trade Centre in Cairo



Libya: Libya opens to foreign banks, two licenses to open branches

According to ANSAmed (16/02/10), "CBL, Libyàs central bank, made available two licences to open foreign bank branches in Libya. The banks must be ready to take a stake of up to 49% and take care of management, while local investors will have control (51%). The news was included in an invitation to banks, including Italian ones, to manifest their potential interest to invest and operate in Libya by the end of March. The statement indicated that "A major part of Libyàs reform strategy for the financial sector consists in granting foreign banks the authorisation to operate in the country".


Read more / اقرأ المزيد >>



International: World tourism to rebound from crisis in 2010: UNWTO

According to The Daily News Egypt (19/01/10), "International tourist arrivals should recover strongly in 2010 after the global crisis and the swine flu pandemic produced "one of the most difficult years" for the sector, the UN World Tourism Organization said Monday.
World tourism fell by an estimated 4 percent in 2009 but should rebound by 3 to 4 percent in 2010, it said in its annual World Tourism Barometer.
Growth returned in the last quarter of 2009 contributing to better than expected full-year results."


Read more / اقرأ المزيد >>


Cypriot and Egyptian Organisations and Institutions