{"id":551263,"date":"2022-06-06T13:08:39","date_gmt":"2022-06-06T13:08:39","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/06\/this-evening-valu-enters-saudi-arabia-house-economic-committee-discusses-the-unified-ins-act-boris-johnson-faces-no-confidence-vote\/"},"modified":"2022-06-06T13:08:39","modified_gmt":"2022-06-06T13:08:39","slug":"this-evening-valu-enters-saudi-arabia-house-economic-committee-discusses-the-unified-ins-act-boris-johnson-faces-no-confidence-vote","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/06\/this-evening-valu-enters-saudi-arabia-house-economic-committee-discusses-the-unified-ins-act-boris-johnson-faces-no-confidence-vote\/","title":{"rendered":"THIS EVENING: valU enters Saudi Arabia + House Economic Committee discusses the Unified Ins. Act + Boris Johnson faces no confidence vote"},"content":{"rendered":"

Happy Monday, wonderful people.<\/strong> The news mill isn\u2019t on the same overdrive we\u2019ve gotten used to lately, but there\u2019s still plenty of news to keep you busy.<\/p>\n

THE BIG STORY TODAY<\/strong><\/p>\n

<\/a> valU enters Saudi Arabia:<\/strong> EFG Hermes\u2019 buy-now-pay-later platform valU is set to acquire 35% of Saudi\u2019s FAS Finance, a subsidiary of FAS Labs, and will be offering digital consumer finance solutions to customers in the kingdom, the company said in a statement (pdf)<\/a>. The acquisition marks valU\u2019s first cross-border expansion.<\/p>\n

THE BIG STORY ABROAD<\/strong><\/p>\n

It\u2019s a rather mixed bag of nuts in the international press this afternoon<\/strong>, with no single story dominating digital front pages. Getting wide coverage (but assigned different levels of importance) is UK Prime Minister Boris Johnson facing a confidence vote from Conservative MPs today. The vote, which is scheduled for 7pm tonight, could see the incumbent prime minister pushed out of office if a majority of lawmakers vote against him, triggering a weeks-long process of deciding on his replacement. The story is getting ink from Reuters<\/a>, the Financial Times<\/a>, and the New York Times<\/a>.<\/p>\n

HAPPENING NOW-<\/strong><\/p>\n

<\/a> The House Economic Committee is discussing the Unified Ins. Act<\/strong>, after the Senate approved the proposed regulation in April<\/a>. The bill, which has been at least three years in the making, would make the Financial Regulatory Authority the primary regulator for the sector and make ins. compulsory for SMEs and freelancers, among other things.<\/p>\n

ALSO AT THE HOUSE- Environment Minister Yasmine Fouad is discussing tackling<\/strong> pollution<\/strong> in our waterways, beaches, and natural reserves with MPs in a plenary session.<\/p>\n

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** CATCH UP QUICK<\/strong> on the top stories from today\u2019s EnterpriseAM<\/strong>:<\/p>\n