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Wednesday, 14 September 2022

Last Night’s Talk Shows: El Sisi in Doha + Crypto is bad, says CBE (again)

Qatar, crypto and local industry were all over the airwaves last night. We have the rundown on the local industry story in this morning’s news well, above. Meanwhile:

El Sisi in Doha: President Abdel Fattah El Sisi’s visit to Doha was everywhere on the airwaves last night, with Ala Mas’ouleety’s Ahmed Moussa getting hyped to" stick it to the Ikhwan (watch, runtime: 4:07) and Lamees El Hadidi striking a more measured tone on the landmark visit (watch, runtime: 2:25). Ittihadiya spokesman Bassam Rady told Moussa (watch, runtime: 2:19) about the agenda for the visit while El Hadidi noted that the trip comes ahead of UN Security Council meetings this month and the next Arab League summit in Algeria in the first week of November (watch, runtime: 2:25). The story was also picked up by Salet El Tahrir (watch, runtime: 6:44), Yahduth Fe Masr (watch, runtime: 4:34) and Masa’a DMC (watch, runtime: 0:56).

The Central Bank of Egypt slapped another parental advisory sticker on the crypto market yesterday, warning Egyptians not to get involved in trading digital assets. This is the latest of many messages from the central bank, which has constantly tried to steer the public away from investing in crypto, warning about the high levels of risk to the individual and the stability of the banking system at large. The warning got coverage from Salet El Tahrir (watch, runtime: 8:48), Al Hadath Al Youm (watch, runtime: 5:53) and Yahduth Fi Masr (watch, runtime: 4:48).

You can read the statement for yourself here (pdf), if you like.

SOUND SMART- Uneducated twentysomething individual investors engaging in crazy gymnastics to open wallets abroad? Not good. But also not good is the fact that the UAE is emerging as a major global crypto hub. That Bahrain has a crypto sandbox to let companies (safely) work out innovation — with a startup founded by an Egyptian on the bleeding edge. And that even KSA is studying crypto regulation and has brought in a chief. We’re both crypto-curious and crypto-skeptical, but this cannot be the CBE’s answer to crypto forever.

The economic conference taking place at the end of this month also got coverage, with Masa’a DMC talking with Vice Minister of Finance Ahmed Kouchouk about the plans (watch, runtime: 13:37). Kouchouk didn’t offer many new details, and instead talking in broad terms about the importance of investment, industrial development and the private sector. It’s possible that the upcoming conference could see some additions to the first draft of a State Ownership Policy document, after the state held over 30 societal dialogues with industries and experts, he said.

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