{"id":566123,"date":"2021-05-30T13:52:27","date_gmt":"2021-05-30T13:52:27","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/30\/tonight-waiting-for-news-on-everything-from-an-ever-given-settlement-to-covid-19-restrictions-gabi-ashkenazis-visit-to-cairo\/"},"modified":"2021-05-30T13:52:27","modified_gmt":"2021-05-30T13:52:27","slug":"tonight-waiting-for-news-on-everything-from-an-ever-given-settlement-to-covid-19-restrictions-gabi-ashkenazis-visit-to-cairo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/30\/tonight-waiting-for-news-on-everything-from-an-ever-given-settlement-to-covid-19-restrictions-gabi-ashkenazis-visit-to-cairo\/","title":{"rendered":"TONIGHT- Waiting for news on everything from an Ever Given settlement to covid-19 restrictions Gabi Ashkenazi\u2019s visit to Cairo"},"content":{"rendered":"

It\u2019s one of those \u201churry up and wait\u201d afternoons<\/strong>, with no single story dominating the news agenda as we wait to see what\u2019s going on with everything from the Ever Given to Egypt\u2019s push to turn a ceasefire in Gaza into a longer-term peace agreement.<\/p>\n

<\/a> HAPPENING NOW- The Suez Canal Authority has just started a presser<\/strong> at which it said it will answer questions about its quest to force the owners of the MV Ever Given to pay up for having blocked the Suez Canal for nearly a week. The meeting with reporters comes one day after lawyers for the SCA and the Ever Given\u2019s owners together asked Ismailia Economic Court to postpone until late June a ruling in a related case<\/a> over the size of Egypt\u2019s compensation demand.<\/p>\n

We\u2019re reading the tea leaves as suggesting a settlement is in the works<\/strong> as the SCA has so far said that there are \u201csigns\u201d a resolution could soon be reached as the vessels\u2019s owners have been negotiating \u201cin good faith.\u201d Not coincidentally, the SCA also reminded reporters that Egypt\u2019s case for compensation is \u201cstrong.\u201d<\/p>\n

WE\u2019RE ALSO STILL WAITING ON the government\u2019s covid-19 committee to announce <\/strong>whether they\u2019re <\/strong>extending restrictions<\/a><\/strong> or reverting back to normal summer retail hours. The committee had extended until the end of May restrictions originally imposed for two weeks on 6 May, which mandated a 9 pm closing time<\/a> for shops, restaurants and malls. Public parks and beaches were also ordered closed during the Eid break in an attempt to curb the rise in covid-19 cases. The committee is set to make an announcement on the possible extension<\/a> today.<\/p>\n

MEANWHILE- <\/strong>Foreign Minister Sameh Shoukry is <\/strong>in a meeting<\/a><\/strong> with his Israeli counterpart, Gabi <\/strong>Ashkenazi<\/strong>, <\/strong>who arrived in Cairo this morning. The two are set to discuss a permanent truce between Israel and Hamas in the first visit to Cairo by an Israeli FM in 13 years, Bloomberg<\/a> reported. They\u2019re meeting here at the same time as intelligence chief Abbas Kamel is in Tel Aviv<\/a> for parallel talks with Israeli PM Benjamin Netanyahu and his national security adviser Meir Ben Shabbat as Egypt serves as go-between in talks between Hamas and the Israeli government. Kamel will then make his way to Ramallah, heading an Egyptian delegation to meet with Palestinian Authority President Mahmoud Abbas. Egyptian officials <\/strong>are leading the drive<\/a><\/strong> to convert a ceasefire into a longer-term agreement<\/strong> that includes the reconstruction of Gaza, a resumption of peace talks between Israel and Palestine, and a prisoner swap.<\/p>\n

Too soon to say bye bye to Bibi? <\/strong>Benjamin Netanyahu could soon be removed from office after a 12-year run as Israeli PM, with sources saying opposition leader Yair Lapid is close to forming a coalition government by the deadline next Wednesday, Reuters<\/a>reports. Lapid is said to be forming a coalition with right-wing party leader Naftali Bennett, but the minority government would be fragile. To succeed, it would still need outside support from Arab members of the Knesset, whose political stance differs dramatically from Bennett\u2019s. If Lapid fails to form a government by Wednesday, Israel could hold yet another round of elections \u2014 its fifth since April 2019.<\/p>\n

The United Media Services Company (UMS) has inked a memorandum of <\/strong>understanding <\/strong>with MBC Group <\/strong>that will see the two co-produce scripted dramas, according to Youm7<\/a>. Under the agreement, MBC will also obtain distribution rights for UMS productions. UMS has also signed an MoU with Saudi\u2019s Al Arabia Outdoor Advertising<\/a> to work together on outdoor ads. This comes one day after UMS shuffled its board<\/a>of directors, naming veteran banker Hassan Abdalla as chairman, and announced plans to sell a 20-30% stake on the EGX by 2024. UMS\u2019 holdings range from public relations outfit POD to ad industry staple Synergy as well as newspapers Youm7 and Al Watan and broadcasters On, ExtraNews, CBC, MegaFM and Nagham FM, among others<\/a>.<\/p>\n

SUPERCYCLE WATCH- <\/strong>Subsidized seed oils will be 23.5% more expensive starting <\/strong>Tuesday <\/strong>after the Supply Ministry said this morning it would raise the price per liter to EGP 21 from EGP 17<\/a>. The move comes on the back of a global commodities rally<\/a>, minister Aly El Moselhy said in a statement<\/a>. The ministry will review the price of subsidized one-liter bottles of blended soybean and sunflower oil on a quarterly basis. Data from GASC, the state\u2019s commodities buyer, which helps the country import 95% of its edible oil needs, shows that Egypt currently has a strategic reserves sufficient to cover five months of consumption, the minister said.<\/p>\n

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