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Wednesday, 7 August 2019

Suez Canal, foreign reserves, new cities and chicken kept talking heads busy last night

Egypt getting its money’s worth in Suez Canal gains: A cabinet infographic showing a 5.4% jump y-o-y in Suez Canal revenues to USD 5.9 bn in FY2018-2019 was the main point of discussion on Al Hayah Al Youm with Khaled Abu Bakr (watch, runtime: 09:01). Abu Bakr highlighted the role the second Suez Canal played in bringing up the revenues four years after the project’s construction. We have more on this in our Speed Round, below.

The news that foreign reserves inched up to USD 44.91 bn at the end of July from USD 44.35 bn in June also got a mention on the air (watch, runtime: 10:17). Cairo University Professor Mostafa Badr told Abu Bakr the recovery of foreign reserves shows the IMF reform program has succeeded.

PM urges gov’t to step up efforts in new cities: Prime Minister Moustafa Madbouly held talks with Transportation Minister Assem El Gazzar as well as NUCA and Housing Ministry officials to talk about construction progress in over 14 new cities (watch, runtime: 18:47).

Sound eggonomics: The government has launched a national poultry investment campaignto boost the industry, cabinet spokesman Nader Saad told Hona Al Asema’s Reham Ibrahim (watch, runtime: 12:26). The campaign will take place over five different governorates, including Luxor and Qena. Egypt currently meets 95% of its poultry consumption needs.

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