Back to the complete issue
Tuesday, 7 June 2022

Last Night’s Talk Shows: The big privatization meeting

Leading the airwaves yesterday was the bumper Madbouly privatization meeting: Topping the economy / business news on the airwaves last night was Prime Minister Mostafa Madbouly’s briefing to cabinet ministers, where he assigned out tasks to help push forward the administration’s privatization plan. Al Hayah Al Youm (watch, runtime: 4:19) had the details — as do we, in our Privatization Watch section, above.

A tug of war over extension of anti-dumping duties: It was metallurgical industries vs real estate developers on Kelma Akhira (watch, runtime: 12:26), which discussed a recent decision (pdf) by the Trade and Industry Ministry to extend anti-dumping duties on Chinese, Ukrainian and Turkish steel imports for another year. Steel manufacturers backed the decision, which would bolster the industry amid the fallout of war in Ukraine, said Mohamed Hanafy, the head of the metallurgical division of the Federation of Egyptian Industries (FEI). But Tarek Shoukry, head of the FEI’s real estate division, said “accessibility to other markets where steel prices are cheaper or more balanced would create fair competition,” adding that high prices would harm his sector.

ALSO- Citizens can pay their electricity bills online by scanning a barcode on the traditional energy bill slip, Electricity Ministry spokesman Ayman Hamza told Salet El Tahrir (watch, runtime: 5:43).

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; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.