Back to the complete issue
Monday, 6 November 2017

The World Youth Forum was, without exception, on every talking head’s agenda

Much like the rest of the domestic press yesterday, the airwaves were saturated with coverage of the World Youth Forum that President Abdel Fattah El Sisi inaugurated in Sharm El Sheikh last night. These included:

  • Kol Youm’s Amr Adib piled on the praise, saying the event gave Egypt the opportunity to show itself in a different light, particularly since recent terror attacks have painted a negative picture (watch, runtime 3:37).
  • Hona Al Asema’s correspondent in Sharm El Sheikh gave Lamees Al Hadidi a rundown of the forum’s agenda, including the topics that will be tackled at each of the sessions — including using demographics to achieve economic development, immigration, and artificial intelligence (watch, runtime 4:46).
  • Yahduth fi Masr’s Sherif Amer, who set up shop in Sharm El Sheikh, talked to the forum’s general coordinator, Amr Essam about the preparations that went into the event. The Foreign Ministry played a key role in the lead-up by promoting the event abroad.
  • Masaa’ DMC, meanwhile, dedicated the majority of last night’s episode to a livestream of the conference (watch, runtime 4:42).

Meanwhile, Saudi writer Saleh Al Zahran phoned in to give Lamees an insider’s take on the arrests of several Saudi princes and current and former cabinet ministers as part of the kingdom’s ‘crackdown on corruption.’ Al Zahran said that the assets currently under investigation are valued at a total of SAR 2 tn (watch, runtime 10:21). Maybe good for a down payment on Neom?

The host looked at how the EGX was hit yesterday by fallout from the purge in KSA. The impact has naturally hit companies with business ties to Saudi officials swept by Crown Prince Mohamed bin Salman’s power move, said Osoul Brokerage’s Managing Director Ehab Saeed, who told Lamees that Talaat Moustafa Group Holding had the biggest effect on the bourse’s overall performance. Baraka Bank’s shares took the biggest hit since Saudi Sheikh Saleh Kamel — who was among those arrested —owns 73% of the bank (watch, runtime 3:06).

Lamees also spoke to Khattar Abu Diab, a professor of international politics at Université Paris-Sud for a rundown on what’s up with Saudi Arabia, Lebanon and Turkey (watch, runtime 6:00).

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.