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Monday, 30 July 2018

What we’re tracking this week and beyond

FEI tax committee to look into remarks on new Customs Act on Wednesday: The Federation of Egyptian Industries’ (FEI) tax committee will meet on Wednesday to discuss the FEI’s divisions’ remarks on the Finance Ministry’s new Customs Act, committee chair Mohamed El Bahey said, according to Al Shorouk. Bahey had said last week that their points of concern include stipulations requiring importers to submit letters from an accredited bank acting as a guarantor for the cost of customs duties and taxes, in addition to higher penalties for customs evaders and smugglers. Finance Minister Mohamed Maait had previously told us that the ministry would introduce a “whitelist” of importers who benefit from expedited clearance of goods.

Prime Minister Mostafa Madbouly is set to select the board of directors for Egypt’s EGP 200 bn sovereign wealth fund “within days.”

Foreign Minister Sameh Shoukry is expected to land in Washington next week to meet with US Secretary of State Mike Pompeo over developments in the Middle East and US-Egypt relations.

US President Donald Trump might be holding a summit with Arab leaders in Washington on 12-13 October to discuss the establishment of a NATO-style Arab military force, sources told the Washington Post.

Mo Salah fans have until 10 August to make him one of FIFA’s top three men’s footballers for 2018. Cast your ballots here.

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