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Sunday, 11 September 2022

Karmell, take two + everything is set for the National Dialogue to begin

SODIC has relaunched its Sheikh Zayed residential project Karmell, which was put on hold last year after the Housing Ministry decided to rezone the New Zayed area, the developer said in a disclosure to the bourse (pdf) on Thursday.

Things are finally in place for the National Dialogue to begin after the board of trustees selected the remaining rapporteurs for the three main political, economic and social committees and the 19 subcommittees in a meeting yesterday, it said in a statement. It didn’t announce a date for the start of the dialogue.

Al Ahly named Swiss manager Marcel Koller as its new coach, taking over from Portugal’s Ricardo Soares, who was sacked last month after failing to improve performances following the departure of Pitso Mosimane. (Twitter)

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

  • Representatives of renewable energy developers Scatec and Fortescue Future Industries (FFI) held talks with President Abdel Fattah El Sisi over the weekend. Scatec is working with Orascom Construction and Fertiglobe on Egypt’s first green hydrogen plant and FFI is conducting feasibility studies for a 9.2 GW green hydrogen facility. (Statement | Statement)
  • Pesticide imports will be exempt from the requirement to use letters of credit after the Agriculture Ministry approved categorizing pesticides as production inputs rather than final products, exempting them from the central bank’s import restrictions. (Al Mal)
  • FMCG player Dabur Egypt will double its production capacity with a new factory in Tenth of Ramadan City. The first phase is set to start operations in March 2023. (Zawya)
  • The US Department of Defense plans to pay USD 83 mn to Egypt to reimburse it for border security operations along the Libyan border. (Bloomberg Asharq)
  • Authorities released 33 pre-trial detainees on Friday in the latest in a string of releases ahead of the National Dialogue. (Statement)

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