Back to the complete issue
Wednesday, 23 September 2020

Nile flooding and the inauguration of the EastMed gas forum were the top stories on last night’s talk shows

El Sisi gives virtual address at UN General Assembly: Masaa DMC’s Ramy Radwan (watch, runtime: 3:53), Yahduth Fi Misr’s Sherif Amer (watch, runtime: 4:17) and Ala Mas’ouleety’s Ahmed Moussa covered President Abdel Fattah El Sisi's address to the UN General Assembly. El Sisi focused on the crisis in Libya and the dispute over the Grand Ethiopian Renaissance Dam, calling for a political settlement in Libya in line with the Berlin process and Cairo Declaration, and a timely resolution of the talks with Ethiopia and Sudan. The president stressed that the effects of the Libyan conflict aren’t confined to its borders, but have broad regional implications that jeopardize Egypt’s national security, and warned countries against sending mercenaries to fight in the conflict. El Sisi reiterated his red lines and issued an implicit warning to Turkey that any attempt to cross the “Sirte-Jufra” line would be met with force. You can check out the full speech here (watch, runtime: 20:36).

EastMed Gas Forum inauguration: Al Hayah Al Youm’s Mohamed Sherdy spoke with Oil Ministry spokesperson Hamdy Abd El Aziz on ​​the EastMed Gas Forum which was officially inaugurated yesterday. He said that the seven-member forum welcomes other Mediterranean countries, provided they abide by the conditions set by the founders (*cough* Turkey). He stressed that the forum will be the platform through which Egypt will emerge as a regional energy center (watch, runtime: 5:49).We have more on this in this morning’s Speed Round, below.

Nile flooding: Sherdy spoke with Irrigation Ministry spokesperson Mohamed El Sibai, who discussed the ministry’s efforts to tackle and make use of this season’s Nile flooding. The Aswan High Dam will be used to shore up the water, which will then be carefully distributed down canals, he said, adding that water quality and pollution rates will also be addressed in the 13 governorates affected by the flooding (watch, runtime: 8:01). Moussa also spoke to Sibai (watch, runtime: 5:28). Radwan spoke with Walid Haqiqi, the head of the ministry’s Central Department of Water Resources, who discussed the warnings issued to citizens ahead of time in case evacuations become necessary. He said that the trapped water will be used to improve soil quality in agricultural lands (watch, runtime: 9:49).

A little piece of advice: Don’t take investment advice from the talking heads. Nady Naguib, head of the gold division at the Federation of Egyptian Chambers of Commerce, told Amer that the recent drop in gold prices is thanks to oversupply and that a rebound to record highs is in the cards soon (watch, runtime: 2:10).

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.