{"id":591013,"date":"2023-07-30T00:00:00","date_gmt":"2023-07-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/30\/blackouts-and-hot-weather-continue-to-dominate-the-conversation-on-egypts-talk-shows\/"},"modified":"2023-07-30T00:00:00","modified_gmt":"2023-07-30T00:00:00","slug":"blackouts-and-hot-weather-continue-to-dominate-the-conversation-on-egypts-talk-shows","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/30\/blackouts-and-hot-weather-continue-to-dominate-the-conversation-on-egypts-talk-shows\/","title":{"rendered":"Blackouts and hot weather continue to dominate the conversation on Egypt\u2019s talk shows"},"content":{"rendered":"

The nation\u2019s talking heads weren\u2019t in shortage of topics yesterday<\/strong> where they covered everything from blackouts to the government\u2019s management of the crisis and to the extreme global weather conditions and forecasts. The National Bank of Egypt and Banque Misr\u2019s new saving certificates were still getting attention while an economist didn\u2019t have great things to say about Moody\u2019s forthcoming outlook on Egypt\u2019s credit rating. <\/p>\n

Blackouts could extend to mid-September -cabinet spokesman: <\/strong>While cabinet hopes we\u2019ll see relief by the end of July, the worst case scenario could see rolling blackouts continue through mid-September should the weather sustain these high temperature levels, Cabinet Spokesperson Nader Saad told Ala Mas\u2019ouleety\u2019s Ahmed Moussa yesterday ( watch, runtime, 5:35<\/a>). <\/p>\n

What\u2019s different about this year? <\/strong>While temperatures have been this high before , we saw the mercury sustained at this high a level only for three days in July last year, said Saad, adding that this has strained our ability to provide enough gas and mazut to cover the elevated demand. <\/p>\n

Importing mazut again after a four-month hiatus: <\/strong>The government stopped importing mazut in March thinking that it could rely on local production during the summer and not anticipating the prolonged heat wave seen this month, said Saad. It now plans to spend USD 250-300 mn by the end of August on importing new supplies of mazut in bid to end the crisis, Madbouly said in the presser on Thursday. <\/p>\n

Don\u2019t blame it on the weather, says Amr Adib:<\/strong> El Hekaya\u2019s Amr Adib took note of the PM\u2019s presser on Thursday and criticized the cabinet for what he called \u201cmismanagement of the crisis\u201d and \u201cpoor communication with the public.\u201d The government should be straightforward and honest with the public about the causes of the problem rather than just \u201cblaming it on the weather,\u201d he told his viewers ( watch, runtime: 25:16<\/a>). <\/p>\n

This extreme heatwave wasn\u2019t a surprise<\/strong> because we are able to forecast weather conditions up to three months in the future, though the level of precision decreases over longer periods, Manar Ghanem, an official at the Egyptian Meteorological Authority official told El Hadidi ( watch, runtime: 6:25<\/a>). Al Hayah Al Youm took note of the blackout measures taken by several countries around the world including the United Kingdom, France, and Italy ( watch, runtime: 8:02<\/a>), while Adeeb had a segment on the detrimental effects of the current global heatwaves on living creatures ( watch, runtime: 2:56<\/a>) <\/p>\n

Solar users won\u2019t be spared: <\/strong>Households running on solar energy panels that are linked to the national grid will not be spared from the blackouts, Infinity General Manager Hesham El Gamal told El Hadidi ( watch, runtime: 17:47<\/a>). <\/p>\n

OF CDs AND CREDIT DOWNGRADES-<\/strong><\/p>\n

Another Moody\u2019s downgrade would hurt:<\/strong> Moody\u2019s is expected to downgrade its Egypt outlook when it publishes its review in the next few days, a move which would be \u201cpainful\u201d for the country, economist Medhat Nafea told Lamees El Hadidi ( watch, runtime: 6:00<\/a>) yesterday. \u201cAnother downgrade is likely in the case that Moody\u2019s doesn\u2019t consider the recently announced sale of USD 1.9 bn worth of state-owned assets a serious step into implementing comprehensive economic reforms,\u201d he said. El Hadidi also took note of the IMF\u2019s latest forecasts for Egypt, which see lower growth and higher inflation in 2024 ( watch, runtime: 3:30<\/a>). <\/p>\n

CD rules don\u2019t breach int\u2019l money laundering regs, says banker: <\/strong>Buyers of the new USD-denominated CDs<\/a> will not be asked about the source of their money, banking expert Tarek Metwally told Kelma Akhira\u2019s Lamees El Hadidi ( watch, runtime: 11:31<\/a>) yesterday, adding that the banks will only conduct the routine know-your-customer procedures (KYC) when approached by new customers. This KYC is enough to give the bank an idea about the source of the money used to buy the c ertificates , he added, refuting any violations of international money laundering standards. <\/p>\n","protected":false},"excerpt":{"rendered":"

Cabinet spokesperson Nader Saad gave an interview to expand on the PM\u2019s presser on Thursday<\/p>\n","protected":false},"author":1,"featured_media":591014,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7232],"tags":[7082,104,244,93,72,106,1324],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-591013","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-last-nights-talk-shows","tag-credit-ratings","tag-economy","tag-electricity","tag-energy","tag-enterpriseam","tag-last-nights-talk-shows","tag-moodys","wpautop","entry"],"acf":{"mongo_id":"c31647f6-0355-446d-ab7f-95d6f151b24b","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/7\/1182.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Blackouts and hot weather continue to dominate the conversation on Egypt\u2019s talk shows","related_issue":[590991],"teaser":"Cabinet spokesperson Nader Saad gave an interview to expand on the PM\u2019s presser on Thursday","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/7\/.4ebbdf71-e7ab-42b2-8636-833bc9409401.mp3"},"yoast_head":"\nBlackouts and hot weather continue to dominate the conversation on Egypt\u2019s talk shows - 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