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Sunday, 7 May 2017

What we’re tracking on 07 May 2017

Will we have an Investment Act today? The House of Representatives is scheduled to hold its final vote on the Investment Act today, ending a long, drawn-out debate. The move comes after the deadlock last week on some of the bill’s key issues was resolved on Thursday. We have more in Speed Round, below. The House will also vote today on a 10% social welfare raise for state employees not covered under the Civil Service Act, Al Ahram reports.

AmCham’s annual Doorknock Missing to Washington, DC, ended on Friday. We have coverage of the last couple of days in a special report at the end of today’s Speed Round, below.

Following up on the drumbeat of new investment we noted in Thursday’s edition, we have news this morning of two investments worth a combined USD 800 mn. Once again, details in Speed Round.

An IMF delegation is still in town to review the Ismail government’s progress on its economic reform package. The World Bank is sending a delegation this week to meet with the government on economic reforms before disbursing the USD 1 bn third tranche of its USD 3 bn loan to Egypt, as we reported from Washington last week. The third tranche should be disbursed by year’s end.

Finance Minister Amr El Garhy is expected to announce the state’s haul from this year’stax season at a press conference scheduled today, according to Al Masry Al Youm.

The government will announce this week that GDP growth for 3Q16-17 reached 3.9%, Planning Minister Hala El Saeed told Al Mal.

President Abdel Fattah El Sisi is due in Kuwait today for a two-day visit during which he is expected to meet with Kuwaiti Emir Sheikh Sabah Ahmad Al Jaber Al Sabah. El Sisi will then head to Bahrain to hold similar talks with King Hamad bin Isa Al Khalifa.

CIB removed on Thursday its cap on international use of debit cards, the bank announced in a statement. The bank had also dropped international spending limits on its credit cards last month.

The French will be heading to the polls today to elect their next president amid a potentially damaging hack against front-runner Emmanuel Macron.

The majority of our readers — like us — are bilingual, and that apparently means we all experience time “differently” because we can shift between different concepts and measurements of time in each of the languages we speak. It’s not rocket science, but if you have a moment, check out the Independent and marvel that there is so much left to study in this world.

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