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Monday, 13 August 2018

What we’re tracking this week and beyond

Dar Al Ifta announced the first day of Eid Al Adha will be Tuesday, 21 August, with Waqfat Arafat taking place on Monday. Expect most people to also take next Sunday off to bridge into a full nine-day vacation.

Governors shuffle coming after Eid break: A shuffle of the nation’s 27 governors will likely be announced after the Eid Al Adha break, an unnamed source from the Local Development Ministry tells Al Shorouk. The announcement of the shuffle has been postponed several times since reports of its imminence first broke in June, but sources had said earlier this week that as many as 12 governors could be hanging up their suits. Leading jurists were reportedly among the candidates for higher office in Giza and Upper Egypt.

The Egyptian Federation of Investors Associations (EFIA) is meeting with Finance Minister Mohamed Maait this week to discuss the latest draft of the Customs Act.

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 scheduled 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.

Egypt is set to host the 57th ACI & 43rd ICA World Congress from 25-27 October in Cairo to discuss the latest developments in global banking. The conference will be held under the auspices of CBE Governor Tarek Amer.

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