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Thursday, 20 July 2017

What we’re tracking on 20 July 2017

Rumors popped out yesterday that the amendments to the Central Bank and Banking sector acts could see the return of nine-year term limits for banking sector managing directors. The amendments to the acts were discussed quite heavily yesterday, with the government having to urge calm (we have more in the Speed Round). At this point, we would like to remind readers that none of what is claimed in the local press has been substantiated or confirmed.

We were reminded once again yesterday that agreement between the government and business associations to give private-sector employees a 10% hardship raise (set at a minimum EGP 165 and maximum EGP 330) is a non-binding one. This time by Federation of Egyptian Chambers of Commerce head Ahmed El Wakil who said that companies have already issued raises this year and should not feel obliged to do so again, according to AMAY. His comments probably come to reassure as the members of that esteemed body that is the House of Representatives suggested that the raise might be mandatory.

It is confirmed — laptops on planes to New York are allowed: We have the closest thing to a confirmation from the US Department of Homeland Security (DHS) that passengers on board flights from Cairo to New York can carry laptops. A DHS update from earlier in the week stated that only King Khalid International Airport in Saudi Arabia has yet to meet security requirements. This comes as a UN Counter-Terrorism Committee delegation inspected security measures at Cairo Airport’s Terminal 2 yesterday, an unnamed airport security official tells Ahram Gate.

For all you football buffs out there, former Brazilian star Roberto Carlos has landed in Cairo to promote tourism and play in a charity game, Ahram Online reports.

We’re heading into a three-day weekend with Sunday off to commemorate Revolution Day.

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