Finally, we are back on economic coverage on the airwaves courtesy of President Abdel Fattah El Sisi’s visit to the Zohr gas field. The notable exception was, of course, Amr Adib, and we’re totally fine with that. As a matter of fact, we actively encourage it.

Eni looking at more offshore exploration opportunities? Oil Minister Tarek El Molla went on Masaa DMC to remind Osama Kamal of benefits of Zohr (we have more in the Speed Round below). He also said Eni has been encouraged launch new exploration campaigns in Egypt in areas adjacent to the Zohr field. Eni and others are interesting in doing business here because of policies that have spurred investment in the sector, the minister said (watch, runtime 17:37).

Wait, did the EGX just endorses Bitcoin as a means of e-payment? EGX deputy head Mohsen Adel phoned in to Masaa to say that it is acceptable to use it as a means of electronic payment, but strongly urged against using it as means of “speculative investment” and warned of its risk. He also warned of the cryptocurrency’s use in terrorism financing. Adel also pointed out that no central bank has yet banned the use of cryptocurrency. That won’t stop members of the House (paragons of economic thinking that they are) from falling back on simple stereotypes regarding cryptocurrencies. House Economics Committee-member Mohamed Al Badrawy echoed the central bank’s warning, saying the use of cryptocurrency is a new type of “fraud”. He also urged the CBE to take measures to protect people from getting to deep into crypto (watch, runtime 9:07).

Lamees Al Hadidi’ absence from Hona Al Asema did not temper the econ discussions, which focused on Zohr. Lama Gebril, who filled in, spoke with former Oil Minister Osama Kamal, who said that when production of Zohr reaches 1 bcf/d by June 2018, Egypt would be saving USD 200 mn per month and around USD 2.5 bn annually (watch, runtime 7:14).

Al Hayah Al Youm hosted former EGPC deputy chief Medhat Youssef, who stressed the importance of the maritime border demarcation agreement with Cyprus in bringing Zohr to life. He noted that Egypt has signed 83 oil agreements since the last quarter of 2013, luring investment of some USD 18 bn. He reminded viewers that Egypt’s oil sector made up 43% of foreign direct investments in 2017, adding that Egypt will be producing a total of 6.4 bcf by June 2018 (watch: runtime 26:27).

The show also brought on Deputy Social Solidarity Minister Nevine El Kabbaj to discuss the Takaful and Karama program. El Kabbaj said the program now covered 5,630 villages spanning all governorates since its launch two and a half years ago. Al-Kabbag said around 5.1 mn Egyptian families signed up for the program but only 2.25 mn families were eligible for the funding (watch, runtime 32:20).

Over on Kol Youm, Amr Adib defended El Sisi’s response to opposition calls for boycott the presidential elections (more in the Speed Round). Adib supported El Sisi’s reasoning and said the country shouldn’t be allowed to replicate what happened seven years ago. Adib warned that if similar protests took place, even the local investors would begin moving their wealth abroad, which would slam prospects of economic development (watch, runtime 5:41).