{"id":630121,"date":"2018-04-12T04:10:18","date_gmt":"2018-04-12T04:10:18","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/12\/cabinet-greenlights-egp-200-bn-sovereign-wealth-fund-farmers-arent-happy-with-wheat-prices\/"},"modified":"2018-04-12T04:10:18","modified_gmt":"2018-04-12T04:10:18","slug":"cabinet-greenlights-egp-200-bn-sovereign-wealth-fund-farmers-arent-happy-with-wheat-prices","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/12\/cabinet-greenlights-egp-200-bn-sovereign-wealth-fund-farmers-arent-happy-with-wheat-prices\/","title":{"rendered":"Cabinet greenlights EGP 200 bn sovereign wealth fund, farmers aren\u2019t happy with wheat prices"},"content":{"rendered":"<p><strong>The talking heads had a selection of topics to keep them busy last night,<\/strong> most notable of which was the Ismail Cabinet greenlighting the establishment of a EGP 200 bn sovereign wealth fund. We have chapter and verse in Speed Round, below.<\/p>\n<p>But first: <strong>Argineering won EGP 100,000 in the CIB-sponsored Hona Al Shabab startup competition<\/strong> on Hona Al Asema. Couponat and Star Marine landed in second and third place, respectively.<\/p>\n<p><strong>Now onto the new sovereign wealth fund: <\/strong>The fund is meant to put untapped assets to use, Cabinet spokesman Ashraf Sultan said. He noted that the state has around 100 sizeable assets and a plethora of smaller assets that are either mismanaged or not capitalized on at all. The new fund may play a role in setting up new companies, upping existing companies\u2019 capital, or investing in listed securities, Sultan told Al Hayah Al Youm\u2019s Tamer Amin (<a href=\"https:\/\/www.youtube.com\/watch?v=EfH_Ldta2Q0\">watch, runtime: 4:21<\/a>).<\/p>\n<p><strong>Although farmers maybe disgruntled, the wheat purchasing price set by the government is fair and suitable<\/strong>, Supply Minister Ali El Moselhy told Amin. The price was determined according to a formula that draws on the average USD exchange rate and takes into consideration the expense of subsidizing bread, which is expected to cost state coffers EGP 16 bn from local wheat alone, the minister said (<a href=\"https:\/\/www.youtube.com\/watch?v=_lE3oaiR22Q\">watch, runtime: 7:10<\/a>).<\/p>\n<p><strong>The drop in global wheat prices justifies the price announced by the government, <\/strong>Farmers\u2019 Syndicate head Hussein Abu Saddam nodded in agreement. Abu Saddam suggested that reducing the price of agricultural supplies such as fertilizers could help offset disappointment and encourage upset farmers to continue cultivating wheat. Around 3.2 mn feddans of wheat were planted this season, he told Yahduth fi Misr\u2019s Sherif Amer (<a href=\"https:\/\/www.facebook.com\/YahdothFiMasr\/videos\/567916993586611\/\">watch, runtime: 3:44<\/a>).<\/p>\n<p>Meanwhile, <strong>Vice Minister of Finance for Capital Market Operations Khaled Abdelrahman spent his evening giving Amin an economics crash course<\/strong> on Al Hayah Al Youm. He dove into all there is to know about bonds and explained what the recent EUR 2 bn eurobond issuance means for Egypt, telling Amin that the choice to go with a EUR-denominated issuance was based on Egypt\u2019s strong trade relations with Europe (<a href=\"https:\/\/www.youtube.com\/watch?v=_R6exlzruLQ\">watch, runtime: 14:01<\/a>).<\/p>\n<p>Over on Masaa DMC, <strong>scientist Farouk El Baz called on the government to be transparent in laying out its plans for the next four years<\/strong> and clearly articulate the country\u2019s problems to the citizenry (<a href=\"https:\/\/www.youtube.com\/watch?v=I-PUFI23VfI\">watch, runtime: 4:56<\/a>).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The talking heads had a selection of topics to keep them busy last night, most notable of which was the Ismail Cabinet greenlighting the establishment of a EGP 200 bn sovereign wealth fund. We have chapter and verse in Speed Round, below. But first: Argineering won EGP 100,000 in the CIB-sponsored Hona Al Shabab startup [&hellip;]<\/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-630121","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":"63379128-3be6-4424-ab22-09e4be9fe9b8","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[630116],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Cabinet greenlights EGP 200 bn sovereign wealth fund, farmers aren\u2019t happy with wheat prices - 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\/04\/12\/cabinet-greenlights-egp-200-bn-sovereign-wealth-fund-farmers-arent-happy-with-wheat-prices\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cabinet greenlights EGP 200 bn sovereign wealth fund, farmers aren\u2019t happy with wheat prices\" \/>\n<meta property=\"og:description\" content=\"The talking heads had a selection of topics to keep them busy last night, most notable of which was the Ismail Cabinet greenlighting the establishment of a EGP 200 bn sovereign wealth fund. 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We have the full story in Speed Round, below.The House of Representatives\u2019 Economic Committee will begin its review of the legislation as soon\u2026","rel":"","context":"In &quot;Enterprise+: Last Night\u2019s Talk Shows&quot;","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":630179,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/15\/matouk-bassiouny-name-partner-advised-on-legislation-establishing-egp-200-bn-sovereign-wealth-fund\/","url_meta":{"origin":630121,"position":1},"title":"Matouk Bassiouny name partner advised on legislation establishing EGP 200 bn sovereign wealth fund","author":"enterpriseam admin","date":"15 April 2018","format":false,"excerpt":"Matouk Bassiouny advised on legislation establishing EGP 200 bn sovereign wealth fund: Matouk Bassiouny\u2019s head of finance and projects and name partner Mahmoud Bassiouny provided legal counsel to the investment and planning ministries on drafting the legislation establishing Egypt\u2019s EGP 200 bn sovereign wealth fund, according to an emailed statement.\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":630123,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/12\/ismail-cabinet-signs-off-on-egp-200-bn-egypt-sovereign-wealth-fund\/","url_meta":{"origin":630121,"position":2},"title":"Ismail Cabinet signs off on EGP 200 bn Egypt sovereign wealth fund","author":"enterpriseam admin","date":"12 April 2018","format":false,"excerpt":"MOST EPIC CABINET WATCH EVER- Ismail Cabinet signs off on a EGP 200 bn Egypt sovereign wealth fund: The Ismail Cabinet on Wednesday signed off on legislation establishing an Egyptian sovereign wealth fund, charged with investing state funds locally and abroad across all vehicles and assets, according to a statement\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":630345,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/18\/egypts-sovereign-wealth-fund-to-be-established-within-six-months-says-el-said\/","url_meta":{"origin":630121,"position":3},"title":"Egypt\u2019s sovereign wealth fund to be established within six months, says El Said","author":"enterpriseam admin","date":"18 April 2018","format":false,"excerpt":"Egypt\u2019s EGP 200 bn sovereign wealth fund is expected launch within six months, by which time the legislation establishing the fund should receive the necessary sign-off from the House of Representatives, Planning Minister Hala El Saeed told reporters yesterday, Al Mal reports. The government is currently in talks with regional\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":627344,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/30\/sarie-eldin-pwc-baker-mckenzie-selected-to-advise-cabinet-on-governing-regulations-for-egp-200-bn-sovereign-wealth-fund\/","url_meta":{"origin":630121,"position":4},"title":"Sarie-Eldin, PwC, Baker Mckenzie selected to advise cabinet on governing regulations for EGP 200 bn sovereign wealth fund","author":"enterpriseam admin","date":"30 July 2018","format":false,"excerpt":"Sarie-Eldin, PwC, Baker Mckenzie selected to advise cabinet on regulations governing EGP 200 bn sovereign wealth fund: The Madbouly Cabinet has entered into an agreement with a consortium of firms including Sarie-Eldin & Partners, PricewaterhouseCoopers and Baker McKenzie to advise on the establishment of the framework and governing structure of\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":599396,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/26\/govt-transfers-egp-17-5-bn-worth-of-assets-into-sovereign-wealth-fund\/","url_meta":{"origin":630121,"position":5},"title":"Gov\u2019t transfers EGP 17.5 bn worth of assets into sovereign wealth fund","author":"enterpriseam admin","date":"26 June 2019","format":false,"excerpt":"Assets worth EGP 17.5 bn have been transferred to Egypt\u2019s sovereign wealth fund (SWF), including a conference hall in Nasr City and the Bibliotheca Alexandrina, Planning Minister Hala El Said said, according to Al Mal. The government has hired legal and financial advisory firms to help it draft short- and\u2026","rel":"","context":"In &quot;Egypt Politics + Economics&quot;","block_context":{"text":"Egypt Politics + Economics","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-politics-economics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/630121","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=630121"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/630121\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/630116"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=630121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=630121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=630121"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=630121"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=630121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}