{"id":640796,"date":"2017-09-05T11:56:26","date_gmt":"2017-09-05T11:56:26","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/05\/on-the-horizon-150\/"},"modified":"2017-09-05T11:56:26","modified_gmt":"2017-09-05T11:56:26","slug":"on-the-horizon-150","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/05\/on-the-horizon-150\/","title":{"rendered":"On the horizon"},"content":{"rendered":"

The CBE should have a new draft of the <\/strong>Central Bank and Banking Act<\/strong><\/a> ready in a few weeks\u2019 time,<\/strong> now that it has received notes and suggestions from the Federation of Egyptian Banks (FEB), unnamed officials tell Youm7<\/a>. The FEB had prepared a report with its reservations on proposed amendments to the act, which had stirred controversy<\/a> when they first surfaced in July. These included clauses setting term limits for bank managing directors, insisting on CBE representation on bank boards, and suggesting that banks kick in 5% of their bottom lines annually for an industry development fund. The FEB\u2019s report has yet to filter out to the press. The non-entity that is Al Wafd Party, which rejected the amendments, said it was establishing<\/a> a work group to look into the current draft and suggest its own set of revisions to the central bank. Tarek Amer and bankers nationwide are surely waiting with bated breath. <\/strong><\/p>\n

Apple has confirmed its fall event for Tuesday, 12 September <\/strong>at 7:00pm CLT at the Steve Jobs Theater. Look for new iPhones and a new Apple Watch, among other toys. You can livestream the event here<\/a>.<\/p>\n

Italian ambassador to Egypt Giampaolo Cantini will take up his post in Cairo again on September 14<\/strong>, Foreign Minister Angelino Alfano told the Italian House and Senate Foreign Commissions yesterday, Italian news agency Adnkronos reports<\/a>. Cantini will resume his position on the same day Egypt\u2019s new ambassador to Rome, Hisham Badr, begins his post. \u201cEgypt is an inalienable partner to Italy and Italy is an indispensable partner for Egypt,\u201d Alfano said.<\/p>\n

A delegation headed by the UK trade envoy Sir Jeffrey Donaldson will be visiting Egypt this month<\/strong>, British Ambassador to Egypt John Casson said, according to Al Masry Al Youm<\/a>. The delegation will include British companies looking to invest in infrastructure, particularly in the Suez Canal Economic Zone, the New Capital, and New Alamein, according to Casson.<\/p>\n

It\u2019s an election month in Germany. <\/strong>Voters head to the polls on 24 September. Incumbent Chancellor Angela Merkel came out on top in the only televised debate with center-left Social Democrat challenger Martin Schulz. The New York Times<\/a>, Guardian<\/a> and Reuters<\/a> have coverage.<\/p>\n

It\u2019s also monetary policy month:<\/strong> The US Federal Reserve\u2019s FOMC<\/a> will review policy rates on 19-20 September, while the Central Bank of Egypt\u2019s MPC<\/a> will follow suit on 28 September.<\/p>\n","protected":false},"excerpt":{"rendered":"

The CBE should have a new draft of the Central Bank and Banking Act ready in a few weeks\u2019 time, now that it has received notes and suggestions from the Federation of Egyptian Banks (FEB), unnamed officials tell Youm7. The FEB had prepared a report with its reservations on proposed amendments to the act, which […]<\/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":[9277],"tags":[72,3157],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-640796","post","type-post","status-publish","format-standard","hentry","category-on-the-horizon","tag-enterpriseam","tag-on-the-horizon","wpautop","entry"],"acf":{"mongo_id":"61fc2e0d-e160-4c47-9c30-c81830678661","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[640791],"teaser":"","voice_url":""},"yoast_head":"\nOn the horizon - 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\/2017\/09\/05\/on-the-horizon-150\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"On the horizon\" \/>\n<meta property=\"og:description\" content=\"The CBE should have a new draft of the Central Bank and Banking Act ready in a few weeks\u2019 time, now that it has received notes and suggestions from the Federation of Egyptian Banks (FEB), unnamed officials tell Youm7. 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Chatter in the halls of parliament had been suggesting that the Contractors\u2019 Compensation Act could be coming to a plenary session vote at the House by 29 May, but members of the House of Representatives\u2019 Housing Committee say they are studying alternatives to\u2026","rel":"","context":"In "ON THE HORIZON"","block_context":{"text":"ON THE HORIZON","link":"https:\/\/enterpriseam.com\/egypt\/category\/on-the-horizon\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":645002,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/10\/on-the-horizon-186\/","url_meta":{"origin":640796,"position":1},"title":"On the horizon","author":"enterpriseam admin","date":"10 July 2017","format":false,"excerpt":"The executive regulations for the recently-passed Natural Gas Act will be completed by September, Oil Minister Tarek El Molla had said on Saturday.","rel":"","context":"In "ON THE HORIZON"","block_context":{"text":"ON THE HORIZON","link":"https:\/\/enterpriseam.com\/egypt\/category\/on-the-horizon\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":650036,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/15\/on-the-horizon-245\/","url_meta":{"origin":640796,"position":2},"title":"On the horizon","author":"enterpriseam admin","date":"15 March 2017","format":false,"excerpt":"The Contractor\u2019s Compensation Act will be voted on within 10 days, the House of Representatives\u2019 Housing Committee Chair Alaa Wali said, according to Al Masry Al Youm reports. Contractors had threatened to derail projects and have asked for contract terms to be extended until the act passes.A World Bank delegation\u2026","rel":"","context":"In "ON THE HORIZON"","block_context":{"text":"ON THE HORIZON","link":"https:\/\/enterpriseam.com\/egypt\/category\/on-the-horizon\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":650707,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/30\/on-the-horizon-250\/","url_meta":{"origin":640796,"position":3},"title":"On the horizon","author":"enterpriseam admin","date":"30 March 2017","format":false,"excerpt":"House committee wraps Investment Act review, setting up a vote on Monday, 10 April? There may be some tinkering left to do, but we\u2019re nearly at a final draft of the Investment Act. 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