Ahmed Zaki Abdeen will step down as chairman of the Administrative Capital forUrban Development (ACUD) at the beginning of September due to health reasons, he told Bloomberg Asharq. The board will appoint Deputy Housing Minister Khaled Abbas as his replacement, he said. The military-owned company is the owner and developer of the new capital. Abbas will take the helm at the company as it prepares to list its subsidiaries on the EGX, and potentially follow through with a blockbuster IPO.

President Abdel Fattah El Sisi has appointed Sherif Sedky (bio) to head the Egyptian Space Agency for one year effective 19 August, according to a presidential decree published in the Official Gazette. Sedky was formerly the executive president of Zewail City and has served as provost at AUC and University of Science and Technology.

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