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Tuesday, 22 December 2020

Also on our radar on 22 December 2020

TE, Orange Egypt clear up commercial disputes + extend cooperation on transmission services: State-owned landline monopoly Telecom Egypt signed agreements with Orange Egypt to clear unspecified “commercial disputes” and establish a framework for future conflict resolution, according to a cabinet statement. The two telcos also signed a mobile-to-fixed termination agreement, as well as an annex to extend an existing contract pertaining to international gateway services until 2022.

Other things we’re keeping an eye on this morning:

  • The government has denied it has plans to privatize state-owned spinning and weaving companies after online rumors claimed it was considering offering them up to investors.
  • A judge has ordered businessman Abdallah Saad, whose company developed a gated community along the Cairo-Alexandria Desert Road, to pay the state EGP 2.8 bn on charges of misusing public funds.
  • Small-scale property owners are getting an additional three-month extension on late payment fines for residential properties developed by the New Urban Communities Authority.
  • Egypt is looking to import 400-500k tonnes of sugar in 2021 once it lifts a temporary ban in place to protect the local industry, Reuters reports.
  • Renewable power generation company Lekela Power has installed the first wind turbine in its 250 MW capacity West Bakr wind power project.

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