Back to the complete issue
Tuesday, 24 January 2017

Talking heads sing new rapprochement with the US following El Sisi-Trump call; House doesn’t understand monetary policy

President Abdel Fattah El Sisi’s phone call with US President Donald Trump was the hot topic of the evening among the talking heads, with many viewing it as a positive step towards furthering relations.
Kol Youm’s Amr Adib said that the political relations between Egypt and the US “is seeing some relief” after slight tensions over the past few years due to the Obama administration’s perceived stance in Egypt towards the Muslim Brotherhood (watch; runtime: 15:49). Politics analyst Abdel Moneim Saeed called what we’re seeing a rapprochement built on the mutual goal of fighting terrorism (watch: runtime: 4:51).
You can always count on Hona Al Assema’s Lamees Al Hadidy to bring a more analytical approach to the table. Last night she hosted Former Arab League secretary-general Nabil Al Araby who warned against reading too much into the call. “It is hard to predict Trump’s policies,” said Al Araby (watch; runtime: 2:42). Lamees then spoke with Mohamed Hornai, member of Palestinian Fatah, who said that the Palestinian Authority is concerned about the possibility of moving the US embassy to Jerusalem (watch; runtime: 2:58).
Yahduth fi Masr’s Sherif Amer did a spotlight on CBE Governor Tarek Amer’s questioning at the House of Representatives on monetary policy, where (as expected) he was bombarded by questions on the exchange rate. Amer interviewed House Economics Committee member Amr El Gohary who said, “We agreed with the governor on the urgency of reducing imports, but were not convinced on the current monetary policy. We hoped the EGP floatation to happen in a more stable economic environment and that there were stronger social safety networks.” In other words, if ain’t broke, break it, then fix it.

On the topic of presidential pardons, sources told Amer that the second list of candidates which will receive a pardon is made up entirely of those arrested for protesting.

On Al Hayah Al Youm, secretary-general of the Social Fund for Development (SFD) Nevine Gamee’ told host Lobna Assal that 45% of the EGP 4bn in SME funding in 2016 went to outlying governorates, especially Upper Egypt. “This is a reflection of the strong demand for investment and financing over there,” Gamee’ said (watch: runtime: 3:51).

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.