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Thursday, 16 August 2018

What we’re tracking this week and beyond

A shuffle of the nation’s 27 governors will likely be announced after the Eid Al Adha holiday, an unnamed source from the Local Development Ministry tells Al Shorouk. The announcement of the shuffle has been postponed several times since since June, but sources had said earlier this week that as many as 12 governors could be hanging up their suits.

Are struggling state-owned companies about to get a financing lifeline? President Abdel Fattah El Sisi gave the Madbouly Cabinet three months to come up with a plan for “the development and restructuring” of public companies. Speaking after the inauguration of a new cement and marble manufacturing complex in Beni Suef, El Sisi suggested that low-interest loans were necessary to help these companies recover their losses, according to Al Mal. The president also said that the companies operating the new plants would eventually be listed on on the stock market.

El Sisi in China next month: President Abdel Fattah El Sisi is expected to sign visit Beijing next month, at which time he will sign cooperation agreements in the energy, education, transport, and housing sectors, according to a Cabinet statement.

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