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Thursday, 14 February 2019

What we’re tracking this week and beyond

The EGP 500 mn first part of the fourth phase of Cairo Metro Line 3 will open between tomorrow and Sunday, Al Mal reports.

Suez Canal Authority boss Mohab Mamish will be in Moscow on Sunday to move forward an agreement on a USD 7 bn Russian Industrial Zone, Al Mal reports.

Antitrust ruling: The Cairo Economic Court is due to deliver a decision on an appeal by pharma distributors of an antitrust fine on Tuesday.

UN, IBM, Egypt tech innovation center to host blockchain-focused talk: The UN Technology Innovation Lab Egypt, Egypt Technology Innovation & Entrepreneurship Center, UNDP, and IBM Egypt are hosting on Tuesday, 26 February a TechNovation Talk to initiate the uninitiated on blockchain and its uses outside the realm of cryptocurrencies. You can find more details and register for the event here.

Pension funds’ investment mechanisms on the PM’s desk within days, sources told local press. A new entity will be established to invest the pensions money as part of the new pensions but no further details were provided.

A Russian delegation will visit Sharm El Sheikh and Hurghada airports in the second half of February to run a final security sweep ahead of a decision on whether to allow the resumption of direct flights, AMAY reports.

The gov’t will begin rolling out its debt control strategy next month, Finance Minister Mohamed Maait told Al Mal. The four-year strategy aims to bring down Egypt’s public debt to 80-85% of GDP by the end of FY2021-22. Maait had previously said the strategy would be presented to President Abdel Fattah El Sisi in March.

Execs from 50 Japanese companies will be in Cairo in March to discuss potential investment opportunities, Youm7 reports.

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