Uncertainty was the overarching theme on the airwaves last night. If a devaluation is happening, when and by how much? Is the government selling off a huge plot of land to Gulf investors? The talking heads took their time speculating yesterday evening.

Coming to you straight from the rumor mill: No two people appear to be on the same page on whether or not the government will soon ink an agreement selling a huge piece of land in the North Coast’s Ras El Hekma to Gulf investors for USD 22 bn. It is unclear where the news originated from but social media and media reports have had a lot to say since Wednesday, when the story first broke out.Government and industry sources Enterprise spoke to denied that we are nearing an agreement with such a large sum, but one of them explained that foreign investors have been eying Ras El Hekma for some time now.

Moussa is very pro the idea: Ala Masouleety’s Ahmed Moussa came to the agreement's defense after it was met with scrutiny from Egyptians.“Ras El Hekma will be a global city on Egyptian soil. Its development has been discussed since 1975 — it’s not a new topic,” Moussa said (watch, runtime: 84:19). “What about this project upsets you? It’ll bring in investment, it’ll include a green residential area, a tourism and entertainment hub, a medical complex, universities, and advanced industrial areas.”

Adib and El Hadidi want more transparency: “If the agreement is this big, why aren’t we being informed? Why not tell us how much we’re getting? The [government’s] silence is suspicious,” Adib said (watch, runtime: 3:15). Kelma Akhira’s Lamees El Hadidi echoed his statements. She called on the government to announce the details of the agreement, explaining that “the economy isn’t run on voice notes or rumors, but on facts and transparency” (watch, runtime: 5:36).

Another thing the nation’s talking heads were speculating about: The when of the imminent EGP devaluation. The central bank will devalue the currency “within weeks,” House Budget Committee head Fakhri El Fiqi told El Hadidi (watch, runtime: 8:44). El Hadidi, meanwhile, seemed confident that a devaluation will be happening “soon.” She expressed her hopes that this devaluation — which would mark the fifth time the country has devalued the EGP since 2016 — will bridge the gap between the official and black market exchange rates (watch, runtime: 2:07).

It’s about a lot more than just devaluating: “If we don’t make the right choices following the devaluation — simplifying bureaucratic processes, bringing in more transparency, supporting industry and exports, and making room for the private sector — we will fall into the same predicament within a year and a half,” El Hadidi warned. Devaluation chatter was also heard on El Hekaya (watch, runtime: 21:13).

AND- More high-interest CDs on the way? Local banks might soon be rolling out new certificates of deposit (CDs) with yields of over 27% after the central bank hiked interest rates by 200 bps on Thursday, banking expert Tarek Metwally told El Hadidi (watch, runtime: 5:46).

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