Back to the complete issue
Sunday, 23 September 2018

El Sisi at the UN dominates coverage

The airwaves are clogged with political and foreign relations pundits offering nothing in the way of original analysis President Abdel Fattah El Sisi makes his latest fall visit to New York for the UN General Assembly.

But before we get to that, Hona Al Asema dove into last week’s abysmal performance on the EGX, which saw the benchmark EGX30 fall to its lowest point this year on Wednesday. CFA Society Ahmed Abou El Saad puts the primary blame on the emerging markets selloff (watch, runtime: 16:54). He also pointed to news of the arrest of the Al Watany Bank defendants and (for some reason) talk of the state confiscating funds from Ikhwan-affiliated companies (watch, runtime: 2:19).

El Hekaya’s Amr Adib met with one of the defense attorney’s on the Al Watany Bank defense team. We note highlights of that talk, which took a turn to the political, in the Speed Round below.

El Sisi at the UN will be an economic mission: Amid the usual, insipid talking points trotted out, Al Masry Al Youm journalist Mohsen Smeeka’s interview with Masaa DMC stood out. He noted that the economy will feature heavily in El Sisi’s trip, which will see the president meet with World Bank CEO Kristalina Georgieva and a delegation of US companies in a meeting set up by the American Chambers of Commerce. El Sisi will also meet with UAE Foreign Minister Abdullah bin Zayed (watch, runtime: 7:11).

Foreign Minister Sameh Shoukry spoked to Masaa DMC from New York, saying this UN meeting is an important showcase for Egypt’s growing international role. Egypt will lead a meeting of the G77 and head the African Union in 2019. He talked of the importance of US-Egypt cooperation on a number of regional issues, including the current violence in Gaza, where Egypt is currently mediating between Israel and Hamas (watch, runtime: 14:35).

Also in diplomacy, Turkey’s arrest of Egyptian fishermen off the northern coast of Cyprus received a vitriolic reaction from El Hekaya’s Amr Adib, who attacked what he believes to be a Turkey-Qatar plot against Egypt (watch, runtime: 2:15).

Amr Adib hosted makers of the famed “Raafat El Haggan” series on the 30th anniversary of its airing. Adib used the talk to lambast the makers of Netflix’s Ashraf Marwan spy thriller, The Angel, a view with which we concur wholeheartedly (watch, runtime: 3:12).

Hona Al Asema covered briefly El Gouna Film Festival and the death of screenwriter Sameer Khafaga (watch, runtime: 4:06).

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.