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Tuesday, 7 August 2018

What we’re tracking this week and beyond

EFIA to meet with FinMin next week to discuss Customs Act: The Egyptian Federation of Investors Associations (EFIA) will meet with Finance Minister Mohamed Maait next week to discuss their remarks on the latest draft of the Customs Act, deputy EFIA head Mohamed El Morshedy said yesterday. The federation’s reservations on the act are similar to those the Federation of Egyptian Industries’ had come up with and was expected to discuss with the ministry this week. Among their concerns are that penalties for customs evasion are too severe.

The Emirates NBD purchasing managers’ index for Egypt will be released on Sunday, 12 August, covering July 2018.

The central bank will next consider interest rates on Thursday, 16 August.

Orange Egypt’s board of directors is meeting on 27 August to look into the company’s proposal for a voluntary delisting.

A delegation of 60 unnamed US companies is set to visit Egypt in October to explore potential investments across a variety of sectors. A Japanese trade delegation is also due to visit the new capital and Suez Canal by the end 2018.

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