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its assets increased by 20.08 percent to $43.65bn.

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The bank's profit crossed AED 1bn mark for the first time.

Russian flights to Egyptian resorts to restart after six years

    • The return of travel would be at a rate of five flights a week from Moscow to Hurghada and Sharm El-Sheikh

    • The decision to increase the number of flights to Egyptian resorts would depend on the outcome of the Russian delegation’s visit to Egypt to assess the latest situation

    Six years after a Russian passenger plane crashed in Sinai because of what many believed to be a terrorist act, flights between Russia and the cities of Sharm El-Sheikh and Hurghada will restart again in August.

    The Russian embassy in Egypt said in a statement on its official Facebook page that on July 23 representatives of the Russian government’s Anti-Coronavirus Operations Center met to consider the resumption of flights between Russia and the Egyptian cities of Hurghada and Sharm El-Sheikh, and decided to restart air traffic on Aug. 9.

    The embassy said that the return of travel would be at a rate of five flights a week from Moscow to Hurghada and Sharm El-Sheikh.

    The embassy also confirmed that the decision to increase the number of flights to Egyptian resorts would depend on the outcome of the Russian delegation’s visit to Egypt to assess the latest situation.

    Air traffic between Egypt and Russia was suspended in 2015 after a Russian passenger plane crashed in Sinai following a terrorist act.

    Air traffic between Russia and Cairo Airport resumed in 2018, while charter flights from Russia to Egyptian tourist resorts continued to be suspended until a set of safety requirements requested by Russia were implemented.

    “In general, we are ready to receive Russian tourists in Egypt, with any numbers and trips, whether in Sharm El-Sheikh and Hurghada or the rest of the Egyptian tourist resorts. Stakeholders from tour operators and owners of private airlines should try to free themselves from bureaucratic restrictions and the lobby that works against their interests,” a source at the Egyptian Ministry of Civil Aviation said.