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Posted inWhat We’re Tracking This Week
What we’re tracking this week
Budget debate: The House of Representatives’ Planning and Budget Committee is expected to begin discussing the FY2017-18 state budget mid-week. The House Economics Committee is also expected to wrap up voting on the Investment Act this week. Pope Francis is set to arrive in Cairo on Friday, 28 April for a two-day visit. Francis will […]
Posted inEnterprise+: Last Night’s Talk Shows
Aya Hijazy’s release; President Abdel Fattah El Sisi’s visit to Saudi Arabia; bureaucratic jobs can be willed
The release of child rights activist Aya Hijazy and President Abdel Fattah El Sisi’s visit to Saudi Arabia were the two topics consequence on the airwaves last night. Hijazy’s release stirred wide discussion of the fate of others wrongfully detained in Egyptian prisons, whether on the airwaves or in the local press (see On Deadline). […]
Posted inSpeed Round
IMF wants Egypt to raise interest rates to curb inflation
The IMF looks to be pushing Egypt to keep interest rates high in a bid to curb inflation. Egyptian policy makers need to put a special focus on inflation, said International Monetary Fund managing director Christine Lagarde at a press conference on Thursday kicking off the IMF and World Bank Spring Meetings, Reuters Arabic reports. […]
Posted inSpeed Round
Nasr pushes for more investment at Spring Meetings
Also coming from the Spring Meetings, Investment and International Cooperation Minister Sahar Nasr pushed for further investment and aid from international donors. This drive started at the Ministerial Meeting of the Group of 24, where she noted that “Egypt was in dire need for strong international financial institutions” and development partners to help achieve economic […]
Posted inSpeed Round
IMF drops promise to fight trade protectionism, warns on geopolitical risks
After a sunny beginning, IMF drops promise to fight trade protectionism, warns ongeopolitical risks: The gathering opened with bright optimism from the often-dour Christine Lagarde, with the Financial Times noting the IMF boss saying as the meetings opened, “Spring is in the air and spring is in the economy as well.” The FT quoted two […]
Posted inSpeed Round
Finance Ministry considering USD 3 bn international bond issuance in 2H17
With high interest rates prompting the government to look abroad for lower-cost funding, the Finance Ministry is reportedly considering a USD 3 bn international bond issue sometime in 2H2017, an unnamed official from the ministry tells Al Shorouk. The source added that the ministry wants the issuance to take place as soon as possible in […]
Posted inSpeed Round
14 companies bid on EMRA’s gold tender
14 companies have reportedly bid on the controversial Egyptian Mineral ResourcesAuthority gold tender, which closed last Thursday, industry sources told Youm7. Canadian, Australian, English and Spanish firms were among the bidders alongside a number of Egyptian consortia, the source added. As we noted last week, the terms of the auction were broadly expected to be […]
Posted inSpeed Round
Egypt plans to defer shipments of LNG causing jitters in world market
There are jitters in the LNG market over Egypt’s planned deferral of some 25 shipments of LNG this year and more in 2018, various sources tell Reuters. The nation’s appetite for LNG imports will decrease further once Egypt’s major gas developments come online, starting with the supergiant Zohr field this fall. Only a small portion […]
Posted inSpeed Round
Aya Hijazi arrives in the US, meets with Donald, Ivanka Trump
Egyptian-American charity worker Aya Hijazi arrived in the US on Thursday, two days after she was released from pretrial detention in Egypt, The Washington Post reports. Hijazi was flown back to the US on a military aircraft and was escorted by a military aide to US President Donald Trump. Hijazi met with Trump and Ivanka […]