Egyptian expats send more cash home in year of pandemic

Egyptian expats send more cash home in year of pandemic

DUBAI: Egyptians expats sent more cash home last year as the pandemic forced many people out of work and hit household income. Remittances from Egyptians working abroad rose 10. 5 percent year-on-year to $29. 6 billion in 2020, the central bank said on Monday. Remittances in the final quarter of the year were about $7. 5 billion, compared with about $7 billion the previous year, the central bank said. The IMF in January raised its growth forecast for the country's economy this financial year to 2. 8 percent, citing milder-than-expected contraction during the pandemic. Remittances form a significant part of the north Africa's largest economy as the country's diaspora, many of whom are employed in the Gulf states, regularly send funds to family and friends at home. DUBAI: Lebanese restaurant chain Barbar is coming to the Kingdom. It follows a tie up with Kitch, the region's first hybrid, delivery-focused, cloud kitchen which will see the chain expand across the region. Following the franchise agreement with Kitch, the first Barbar restaurant in the GCC will open in Dubai to be followed by further expansion in the UAE, Saudi Arabia and Qatar, the company said in a statement on Monday. Eight restaurants