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Monday, 26 September 2016

What we’re tracking this week

The Finance Ministry will meet on Tuesday with advisors BNP Paribas, JPMorgan, Citi and Natixis to finalize the strategy for its USD 3 bn eurobond issuance, government sources tell Al Borsa. Finance Minister Amr El Garhy had previously told the newspaper that they had not yet settled on a date for the sale, but that it should take place in October.

Administrative Court to issue ruling on appeal of its decision to void Tiran and Sanafir agreement on Thursday: The country’s High Administrative Court will reportedly issue a ruling on the government’s appeal of the court’s initial decision in June that voided a border demarcation agreement with Saudi Arabia, Al Borsa reports. Last we heard, the government had filed an appeal with the Supreme Constitutional Court, the highest court in the land, although the case appears to remain with the Administrative Court’s first circuit of appeals, which was recently reconstituted, according to El Watan. The agreement handed the Red Sea islands of Tiran and Sanafir to Saudi Arabia.

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