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Tuesday, 15 August 2017

Minimum wage talk, Sahar Nasr interview + ports roadshow, railway upgrades dominate last night’s talk shows

The airwaves gave us a mixed bag of nuts last night, with minimum wage, rail upgrades, the return of Italy’s ambassador, and future investment opportunities being the main points of discussion.

The proposal to set a monthly minimum wage of EGP 2,000 for the private sector will not be mandatory, Manpower Minister Mohamed Saafan told Hona Al Asema’s Dina Zahra (sitting in for Lamees). He said that the proposal was still under review and being discussed by a “very receptive” business community (watch, runtime 7:23).

Separately, Yahduth fi Misr’s Sherif Amer said that sources told him the finance and planning ministries are studying an across-the-board hike in the minimum wage, which would apply to both the public- and private-sectors. (We have more in this morning’s Speed Round).

Over on Masaa DMC, Investment Minister Sahar Nasr told host Eman El Hosary that she was working on luring new funds into the country. Nasr met with investors from London and will be meeting with the European Bank for Reconstruction and Development today to talk about potential investments in energy and transport. Suez Canal Authority Chief Mohab Mamish is reportedly preparing a comprehensive investment strategy for the Canal’s economic zone, which Nasr and the admiral will market during an upcoming roadshow to Vietnam and Singapore (watch, runtime: 5:44).

The railway was still a hot topic of debate last night. Transport Minister Hisham Arafat told Amer that upgrades to the sector will take about four years to complete. Plans are already in place, but funding is where the well runs dry and the ministry is on the prowl for financing.

Amer also spoke to Foreign Ministry spokesperson Ahmed Abu Zeid about the imminent return of Italy’s ambassador to Cairo. Abu Zeid confirmed that Italy has asked Egypt to sign off on its new envoy and that investigations into the death of murdered PHD student Giulio Regeni were still ongoing. He said the case will not hinder diplomatic relations and that Italian prosecutors “have faith” in their Egyptian counterparts.

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