JPMorgan hires UK ex-finance minister Javid

Sajid Javid served as Communities Secretary, Home Secretary and Chancellor of the Exchequer during his time in UK government, and will continue to fulfil his role of Member of Parliament while at JPMorgan (File/Reuters)
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Updated 17 August 2020

JPMorgan hires UK ex-finance minister Javid

  • JPMorgan regularly appoints ex-government ministers to advisory posts

LONDON: Wall Street giant JPMorgan has hired Britain’s former finance minister Sajid Javid as a senior adviser, the bank said on Monday, a move that sees the politician resume his career in investment banking.
Javid quit his role in government earlier this year after falling out with Prime Minister Boris Johnson during a cabinet reshuffle. He remains a lawmaker in Britain’s parliament but is to take up a post as a member of the US bank’s advisory council for Europe, the Middle East and Africa (EMEA).
“We are delighted to welcome Sajid back to JPMorgan as a senior adviser, and we look forward to drawing upon his in-depth understanding of the business and economic environment to help shape our client strategy across Europe,” a spokesman for the bank said in a statement.
Javid began his career in finance at Chase Manhattan, which later merged with JP Morgan, and worked in a number of roles in its currencies and emerging market businesses. He then joined Deutsche Bank, running several of the German lender’s trading businesses in Asia before being elected to Britain’s parliament in 2010.
JPMorgan regularly appoints ex-government ministers to advisory posts, with former UK Prime Minister Tony Blair and ex-Finnish Prime Minister Esko Aho among its previous appointees. Former Italian finance minister Vittorio Grilli has just become chair of the EMEA advisory council.


Egypt receives 1.4 million tourists in second half of 2020

Updated 23 January 2021

Egypt receives 1.4 million tourists in second half of 2020

  • Al-Anani said that 756 hotels and 1,039 tourist restaurants have obtained health and safety certificates since the start of the pandemic
  • Charges for trips to Luxor, Aswan, Sharm El Sheikh, Taba and Hurghada were reduced and ticket prices for all archaeological sites and museums were halved

CAIRO: As of December, Egypt received 1.4 million tourists since the resumption of the tourism activities at the beginning of July, bringing the total number of tourists during 2020 to 3.7 million.
Minister of Tourism and Antiquities Khaled Al-Anani revealed this during a meeting with the Egyptian Prime Minister, Mostafa Madbouly, to review the ministry’s plans to combat the coronavirus.
He said that 756 hotels and 1,039 tourist restaurants have obtained health and safety certificates since the start of the pandemic.
The minister also reviewed the domestic tourism initiative Winter in Egypt and the discounted prices in this initiative.
Charges for trips to Luxor, Aswan, Sharm El Sheikh, Taba and Hurghada were reduced and ticket prices for all archaeological sites and museums were halved.
The minister also reviewed the follow-up on the Cabinet’s decisions to support the tourism sector.
The minister discussed the support offered to the tourism sector, including the procedures to obtain credit facilities and to extend support though the Ministry of Social Solidarity to tourist guides until the end of December 2020.
On Friday, the Egyptian government cut the price of fuel for the aviation sector to support the tourism sector and stimulate aviation in Egypt. According to a statement, the reduction of 15 cents per gallon will continue until the end of this year.
Tourism revenues in Egypt have fallen by more than 69 percent over the past year, from $13.03 billion in 2019 to $4 billion in 2020, Al-Anani said.