{"id":628457,"date":"2018-05-06T04:20:24","date_gmt":"2018-05-06T04:20:24","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/06\/ride-hailing-apps-act-to-be-voted-on-today\/"},"modified":"2018-05-06T04:20:24","modified_gmt":"2018-05-06T04:20:24","slug":"ride-hailing-apps-act-to-be-voted-on-today","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/06\/ride-hailing-apps-act-to-be-voted-on-today\/","title":{"rendered":"Ride-hailing apps act to be voted on today"},"content":{"rendered":"

The airwaves were chock-full of economic and business topics last night<\/strong>, with the highlight being a debate on Kol Youm on the Ride-hailing apps act.<\/p>\n

Ride-hailing Apps Act comes up for a vote in the House of Representatives today<\/strong>, MP Mohamed Badawy said, explaining that the act will provide Uber and Careem with a legal framework to operate in Egypt.<\/p>\n

MP Ahmed Badawy (we\u2019re not sure of his relation to Mohamed) argued the finer points of the law with Uber representative Mohamed El Refai.<\/strong> Badawy appears to have been in favor of controversial clauses that stipulate companies need to keep user data in Egypt \u2014 and share it with government bodies. The pair also debated the soundness of forcing hired cars to sport a sticker identifying their association with an app. Badawy also revealed that wildcats operating in the ride-hailing \u2018space\u2019 without a license could face prison and fines of up to EGP 5 mn (watch, runtime: 7:49<\/a>).<\/p>\n

Banks will start paying out interest today on high-yielding certificates of deposit they issued following the devaluation<\/strong>, according to Hona Al Asema\u2019s Lamees Al Hadidi. The 20% CDs drew in deposits of EGP 676 bn, said Lamees. She called for new savings certificates be made available to help draw down liquidity in the market and move it to the banking system (watch, runtime: 23:24<\/a>).<\/p>\n

National Bank of Egypt (NBE) Deputy Head Yehia Aboul Fotouh said that his bank will be paying depositors EGP 188 bn in the two months for their CDs.<\/strong> He expects the bank\u2019s clients to reinvest the money in other savings instruments offered including the three-year certificates with yields of 15% and others with variable interest rates (watch, runtime: 4:20<\/a>).<\/p>\n

Competition for funds from real estate? <\/strong>Economist Reham El Desouky expects those who have little disposable income who have bought into the 20%-yield CDs to likely reinvest in other instruments. She expects real estate to compete for the newly available funds (watch, runtime: 7:00<\/a>).<\/p>\n

Amr Adib has oil on the brain: <\/strong>Eni\u2019s new oil discovery in the western desert exhilarated Kol Youm\u2019s Amr Adib who suggested that the company be allowed to explore for gas in all of Egypt. Adib even called on the antiquities minister to stop with excavations for antiquities. \u201cWe do not want antiquities any more. We have too many of them,\u201d he said. \u201cI want an oil or gas field\u201d (watch, runtime: 4:33<\/a>). (We have more Eni\u2019s discovery in Energy, below.)<\/p>\n

The new education system continued to attract plenty of attention on the airwaves<\/strong>, with Education Minister Tarek Shawky making the rounds. He was Hona Al Asema\u2019s guest for more than one and a half hours to delve into the highlights of the strategy and to address all concerns levelled from parents or students (watch, runtime: 7:24<\/a>). He also called in to Al Hayah Al Youm to address these same issue (watch, runtime: 9:34<\/a>).<\/p>\n","protected":false},"excerpt":{"rendered":"

The airwaves were chock-full of economic and business topics last night, with the highlight being a debate on Kol Youm on the Ride-hailing apps act. Ride-hailing Apps Act comes up for a vote in the House of Representatives today, MP Mohamed Badawy said, explaining that the act will provide Uber and Careem with a legal […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[9281],"tags":[2379,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-628457","post","type-post","status-publish","format-standard","hentry","category-enterprise-last-nights-talk-shows","tag-enterprise-last-nights-talk-shows","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"20a619c7-c5b7-4b06-a284-0c80fde4a9a1","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[628451],"teaser":"","voice_url":""},"yoast_head":"\nRide-hailing apps act to be voted on today - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/06\/ride-hailing-apps-act-to-be-voted-on-today\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ride-hailing apps act to be voted on today\" \/>\n<meta property=\"og:description\" content=\"The airwaves were chock-full of economic and business topics last night, with the highlight being a debate on Kol Youm on the Ride-hailing apps act. 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The CBE\u2019s move to cut interest rates on Thursday was necessary and is a clear\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":621903,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/21\/ride-hailing-apps-act-exec-regs-out-soon\/","url_meta":{"origin":628457,"position":1},"title":"Ride-Hailing Apps Act exec regs out soon","author":"enterpriseam admin","date":"21 November 2018","format":false,"excerpt":"LEGISLATION WATCH- Executive regulations for the Ride Hailing Apps Act will be ready before year-end, Mohamed Hegazy, the head of the CIT Ministry\u2019s legislative division, tells Masrawy. The act passed the House of Representatives in May and was signed into law in June. The executive regulations were initially due out\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":631778,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/27\/uber-careem-begin-drafting-a-list-of-grievances-with-the-ride-hailing-apps-act\/","url_meta":{"origin":628457,"position":2},"title":"Uber, Careem begin drafting a list of grievances with the Ride-Hailing Apps Act","author":"enterpriseam admin","date":"27 March 2018","format":false,"excerpt":"LEGISLATION WATCH- Uber and Careem are drafting a list of their grievances with the Ride-Hailing Apps Act in the hope of winning amendments before the bill becomes law, officials from the companies said. The two objecting to a stipulation that would require them to ensure that half of their fleets\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":631598,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/22\/mothers-day-celebrations-and-the-unfolding-uber-careem-drama\/","url_meta":{"origin":628457,"position":3},"title":"Mother\u2019s Day celebrations and the unfolding Uber, Careem drama","author":"enterpriseam admin","date":"22 March 2018","format":false,"excerpt":"The talking heads fixated almost exclusively on Mother\u2019s Day celebrations yesterday with back-to-back coverage of the \u201cMothers of the Year\u201d ceremony, during which President Abdel Fattah El Sisi honored 42 women. The drama unfolding over the suspension of Uber and Careem\u2019s services also earned some airtime.Cabinet spokesman Ashraf Sultan clued\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":628567,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/08\/ride-hailing-apps-act-passes-the-house-lipton-el-garhy-amer-show-off-egypts-reforms\/","url_meta":{"origin":628457,"position":4},"title":"Ride-Hailing Apps Act passes the House; Lipton, El Garhy, Amer show off Egypt\u2019s reforms","author":"enterpriseam admin","date":"8 May 2018","format":false,"excerpt":"The talking heads had plenty to keep them busy last night with parliament signing off on the Ride-Hailing Apps Act, the details of which we cover extensively in the Speed Round below. But the star show of night was Amr Adib\u2019s roundtable with IMF Deputy Managing Director David Lipton, CBE\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":601250,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/24\/ride-hailing-apps-get-the-green-light-from-top-administrative-court\/","url_meta":{"origin":628457,"position":5},"title":"Ride-hailing apps get the green light from top administrative court","author":"enterpriseam admin","date":"24 February 2019","format":false,"excerpt":"Top court strikes down challenge to legality of Uber, Careem: The Supreme Administrative Court overturned a ban on ride-hailing apps, allowing them to operate freely in Egypt, Reuters reported. The court accepted an appeal filed by Uber and Careem against a lower court ruling last March that saw the services\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/2\/2277.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/628457","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=628457"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/628457\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/628451"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=628457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=628457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=628457"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=628457"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=628457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}