What we’re tracking on 12 November 2017
We come out of the weekend with a string of good news, folks. Inflation figures have now dropped for the third straight month, signalling once again that inflation may have peaked in July. Rating agency Standards and Poor’s has also upgraded Egypt’s outlook to ‘positive’ from ‘stable’ on the back of stable FX reserves and a renewed strengthening of the economy. And finally, the IMF has given its seal of approval to progress of the economic reforms in its second review, which opens the door for another USD 2 bn disbursement. We have coverage of all this and more in this morning’s Speed Round.
The House of Representatives’ Health Committee will begin discussing the Universal Healthcare Act today, according to Al Mal. We have chapter and verse on what’s expected to be a contentious debate — and one that seems set to add 4% to your payroll expenses — in Speed Round, below.
Foreign Minister Sameh Shoukry kicks off a two-day tour of six Arab countries today for consultations on regional politics, particularly developments in Lebanon following Prime Minister Saad Al Hariri’s resignation, according to a ministry statement. Separately, Shoukry met with French Foreign Minister Jean-Yves Le Drian in Sharm El Sheikh on Thursday to discuss bilateral issues, including efforts to combat terrorism and restore peace and stability in Libya.
The Egyptian, Ethiopian, and Sudanese irrigation ministers began yesterday another round of negotiations on the Grand Ethiopian Renaissance Dam and the impact studies conducted by French consultancy firms, Al Shorouk reports.
Calling all adventurers: Ancient sites that were previously inaccessible are being made available by new tour operators, hoteliers and infrastructure developments. Bloomberg’s list of newly accessible sites includes the Maroe pyramids in Sudan, a Mayan capital in Guatemala and an Indian temple amongst those making the list.