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Thursday, 9 February 2017

On the horizon

New cabinet on Sunday? Prime Minister Sherif Ismail has said he expects to unveil his new cabinet at the House of Representatives on Sunday. We’re hoping the economic team remains intact, but at least one minister is rumored to be exiting.

“Talks” on pre-float letters of credit to resume: Central Bank Governor Tarek Amer will meet with members of the Union of Investor Associations on Monday to resume talks on pre-float LCs, Al Shorouk reports.. Amer has been meeting with the union periodically to discuss relief and payment schedules for companies that have found themselves upside-down LCs they opened in the period immediately prior to the float. Youm7 has more.

Lebanese President Michel Aoun is visiting Egypt and Jordan next week, the Daily Star reported. The trip comes at the invitation of Egyptian President Abdel Fattah El Sisi and is part of a broader effort to "reconnect" with Arab countries, Aoun told his cabinet.

The Central Bank of Egypt’s Monetary Policy Committee will meet next Thursday (16 February) to review rates. The MPC’s full-year 2017 schedule is here.

Flights from Russia to resume? Keep an eye on 23 February, the date state-owned Russian news service Sputnik said had been penciled in for the likely resumption of flights to Egypt from Russia. The Egyptian Civil Aviation Ministry has since said no date has been set.

German Chancellor Angela Merkel is set to visit Egypt sometime in March, Egypt’s ambassador in Berlin Badr Abdel Atti said, according to Ahram Online.

State visit to Washington? US President Donald Trump has reportedly invited President Abdel Fattah El Sisi to visit the White House. We’re watching closely for signs the day may be announced.

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