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Thursday, 10 January 2019

Slow night on the airwaves with no particular issue dominating

It was an economics-focused night on the airwaves last night. While not one particular issue dominated the discussion on the airwaves, we are thankful that Hona El Asema and Yahduth fi Masr was around to add color to recent econ news.

The Standard Chartered report in focus: Al Hayah Al Youm discussed a Standard Chartered report that saw Egypt becoming one of the world’s top 10 economies by 2030 (watch, runtime: 02:36). The show featured an interview with Ain Shams Economics Professor Dr. Yomn El Hamaky who said Egypt needs to focus on effectively using its various resources to achieve economic growth(watch, runtime: 04:01).

Not everyone is buying that zero customs is lowering prices on EU cars. Prices of European cars will increase next monthas there is an expectation that the EUR strengthens relative to the USD, auto expert Nur Darwish tells Ten TV’s El Rai El Am (watch, runtime: 36:37). In an extended discussion, he also noted that auto dealerships have had to contend with an 8% limit on cars sold, suggesting that any price drops would be for a short period of time.

Background: European cars with 1600cc engines have reportedly gone down between EGP 10,000 to EGP 50,000, while prices of 1600cc cars decreased 3-8% while prices of cars with engines of 2000cc or more were down by 15-20%. Auto assemblers have long argued that customs on EU cars falling to zero would translate to a sustained drop in car prices. They have been pushing for the automotive directive to provide a sustained buffer against EU and regionally-made cars by developing a domestic manufacturing industry.

Egypt settled the first phase of its late-tax collection campaign, gathering a total of EGP 6.3 bn, Tax Authority boss Abdel Azim Hussein told Al Hayah Al Youm’s Lobna Assal (watch, runtime: 04:28). The authority waived EGP 6.2 bn from a total EGP 12.5 bn it initially saught to collect in phase one. Taxpayers have until February 10 to benefit from a 50% exemption.

You can watch your favorite sport shows again. Qatar’s beIN Sports has resumed its broadcast in Egypt, after one day of disruption, having worked out an agreement with service provider Cable Network Egypt (CNE), Masaa DMC ‘s Osama Kamal said (watch, runtime: 02:40). The company abruptly announced on Monday that it was “unable” to continue carrying out its services with CNE.

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