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Wednesday, 18 July 2018

What we’re tracking this week and beyond

President Abdel Fattah El Sisi will inaugurate the three Siemens combined-cycle power plants next Tuesday, according to government sources. The fully-commissioned plants in Burullus, Beni Suef, and the new administrative capital will have a combined production capacity of 14.4 GW. The Electricity Ministry had reportedly settled on Siemens to also run the day-to-day operations and management of the three plants, but the two sides have yet to sign official contracts.

El Sisi will reportedly be visiting Sudan tomorrow to meet with Sudanese President Omar Al Bashir over the Grand Ethiopian Renaissance Dam (GERD) and the South Sudan peace process. El Sisi might also be visiting Beijing in September to attend the Forum on China-Africa Cooperation.

El Sisi will also host the sixth National Youth Conference at the end of the month, Al Masry Al Youm reports. Organizers have opened the floor for the public to submit questions for El Sisi to respond to during the conference through the “Ask the President Initiative,” according to the president’s Twitter account. The upcoming edition of the conference will be geared towards university students, but it remains unclear where it will be held.

Plan for a four-day weekend bridge? Prime Minister Mostafa Madbouly declared Monday, 23 July a public holiday for government offices and state-owned companies in observance of Revolution Day. The CBE has also officially announced banks and the EGX will be off on Monday. We expect to see many caving to the temptation of bridging for a four-day weekend.

Heatwave today: Look for daytime highs of 40°C and overnight low of 24ºC, according to the Meteorological Authority. Temps will keep dropping through the rest of the week until it rises back to 40 °C next Wednesday.

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