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Wednesday, 9 November 2016

What we’re tracking on 9 November, 2016

The Suez Canal Authority is expected to resume talks with nine shipping lines today on paying fees in advance in exchange for discounts, sources tell Al Mal. It’s looking like MCS and CMA are interested in the offer. The CBE has authorized the Suez Canal to cap discounts at 5%. The authority is offering a 3% for the prepayment of three years’ transit fees and a 5% discount for a five-year prepayment s. A decision from the three majors — Maersk, MCS, and CMA — was expected this week.

We’re goin’ to Tunis: A delegation of Egyptian officials and businessmen arrives in Tunisia today ahead of a joint monitoring committee meeting, Ahram Gate reported. The delegation includes Domty Chairman Amr El Damaty, Tropic International Chairman Mohamed El Masry, Tenth of Ramadan Investors Association Chairman Mohamed Aref, and Electrolux Chairman Mohamed El Menoufi.

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