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Sunday, 25 November 2018

What we’re tracking this week and beyond

FRA to look into Beltone’s appeal tomorrow: The Financial Regulatory Authority (FRA) will hold tomorrow a hearing to look into an appeal by Beltone Financial against the FRA’s six-month suspension of its investment banking arm, sources said, according to Al Mal. The hearing was postponed from last week the request of Beltone’s legal advisors, who wish to further review the documents. Beltone filed the appeal earlier this month, and has also taken to an administrative court a request to stay proceedings until the case is resolved. The court rejected the latter request, and had instead scheduled an ‘urgent hearing’ on Saturday, 1 December in which the parties will each present documents pertaining to the suspension.

House discussion of zero tariffs on EU car imports: The House Industry Committee will discuss this week Egypt’s agreement with the EU to cut to 0% import duties on EU-assembled cars as of 1 January, 2019, Rep. Farag Amer tells Al Masry Al Youm.

Also in the pipeline:

  • Amendments to the Real Estate Registry Act will be introduced in the House this week;
  • Egypt and Ethiopia will start talks within two weeks on “unresolved” issues stemming from the Grand Ethiopian Renaissance Dam (GERD);
  • The government is due to announce “soon” the date of its first auction of up to 10 mn sqm of ‘unused’ state land;
  • Cabinet is set to “soon” unveil a comprehensive development and infrastructure strategy for Sinai.
  • Consumer finance event: The French Chamber of Commerce and Industry is hosting a panel discussion on consumer finance on Monday, 3 December from 6-8pm at the Fairmont Hotel Nile City

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