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Monday, 3 April 2017

What We’re Tracking on 3 April 2017: It’s Trump-Sisi day

President Abdel Fattah El Sisi and US President Donald Trump are set to meet today in the White House. On the agenda: Terrorism, regional security and economic ties, Al Ahram says. El Sisi is also expected to meet with a number of US officials during his five-day trip, including House of Representatives Speaker Paul Ryan, where talks will extend to the future of US aid to Egypt and remain primarily centered around economic issues, Trade and Industry Minister Tarek Kabil said from DC during an interview with Extra News on Sunday (watch, runtime 8:06).

El Sisi met yesterday with GE CEO Jeff Immelt and leading defense and aerospace player Lockheed Martin’s President Marillyn Hewson. Immelt reportedly said that GE is interested in doing more business in Egypt, especially as the country continues to adopt reform policies meant to improve its overall business environment, Al Shorouk reports. Kabil is expected to meet with senior execs from as many as 10 major US corporations while in Washington with El Sisi.

And speaking of reforms: El Sisi reassured World Bank President Jim Yong Kim that Egypt remains committed to its economic reform agenda during their meeting yesterday, according to AMAY. The WB also remains committed to aiding Egypt through its economic recovery, whether with development aid or through technical support, Kim said.

Cabinet is set to discuss the consumer protection and universal healthcare acts at a meeting today, Prime Minister Sherif Ismail said yesterday in statements to the press, according to Ahram Gate. Unnamed government officials had claimed that Cabinet will be discussing how to use the consumer protection act to enact price controls as part of its bid to curb inflation. As we noted yesterday, this seems unlikely as Cabinet has been consistent in saying there would be no price controls, and the amendments would focus on harsher punishments for hoarders.

The Italian Senate is holding a conference today on Giulio Regeni’s murder, Al Masry Al Youm reports, citing Italian news agency Andkronos. Regeni’s parents, their lawyer, and an Amnesty International spokesman are expected to speak at the conference, entitled “The Death of Giulio Regeni — A State Killing.”

CORRECTION- If you’re going to mess up, it’s best you do it when there’s a class act on the other side of the table. Fawaz Al Hokair Group’s Marakez is looking to build an EGP 3 bn mall in New Cairo. Our piece yesterday (now corrected) got the currency symbol wrong. Our apologies to Dasha and his team.

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