Different themes occupy the nation’s talking heads yesterday
No particular theme dominated last night’s talk shows. Among the handful of business-relevant stories:
Egypt’s balance of payments report carried with it some “cheerful” economic news, El Hekaya’s Amr Adib said in reference to the central bank report (watch, runtime: 7:38). Egypt was a net oil exporter for the first time in four years and travel receipts climbed 36% y-o-y in 1H 2018-19. The decline in FDI is the only downside, but this is more of a reflection of slower global growth, he said. We have more in this morning’s Speed Round, below.
The “let it rust” car boycott campaign played a role in February’s 5.2% y-o-y drop in car sales, the talking heads told us last night. Again: more in Speed Round.
Egypt will inaugurate “within days” free zones in Kafr El Sheikh, Giza, Meet Ghamr, El Saf and Banha, Al Hayah Al Youm’s Khaled Abu Bakr quoted General Authority for Investment and Freezones head Mohsen Adel as saying (watch, runtime: 1:50). Abu Bakr then highlighted the benefits that come along with setting up shop in the customs-exempt zones.