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Wednesday, 31 August 2016

What we’re tracking on 31 August 2016

Telecom Egypt (TE) looks set to sign the 4G licensing contract today, which would officially turn the state-owned company into a mobile network operator in-waiting, Al Mal reports. CIT Minister Yasser El Kady will join top executives of TE and the National Telecommunications Regulatory Authority for a press conference to outline some of the key elements of the agreement. Other MNOs have until 22 September to accept the license terms.

The Ismail Cabinet is expected to discuss today lowering the feed-in tariff (FiT) rate for phase two projects as outlined in the Electricity Ministry’s proposed framework, government sources tell Al Borsa (more on that in the Speed Round). Cabinet will also reportedly address the ongoing shortages of meds, Al Mal reports.

Egypt and Jordan are expected to sign more than a dozen agreements today at the 26th Egyptian-Jordanian High Committee meeting, including pacts to ease restrictions on labor mobility between the two countries and another on industrial zones, Al Mal reports. Prime Minister Sherif Ismail met with his Jordanian counterpart, Hani El Mulki, at the sidelines of the preparations, the newspaper reports.

Strawberry flap continues: Among the agreements being signed with Jordan is one covering the export of strawberries to the Hashemite Kingdom. That pact comes in the midst of an ongoing investigation by health officials in the United States linking a hepatitis A outbreak caused by a strain of the virus associated with past outbreaks from frozen strawberries in Egypt. A representative from Egypt’s Ministry of Trade and Industry reiterated that Egypt has yet to receive any formal complaint from American health officials. We have more on the hepatitis A outbreak in Egypt in the News.

President Abdel Fattah El Sisi is expected to issue pardons for 300 young men and women today, sources tell Al Masry Al Youm. the list is expected to be made up of people who have served the majority of their sentence and college students.

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