El Sisi’s warm words for our Gulf neighbors get top billing
All eyes were on Dubai on last night’s talk shows as President Abdel Fattah El Sisi sought to draw a line under recent controversy stirred up online over Gulf-Egypt relations during his attendance at the World Government Summit in the UAE.
A message of gratitude to the Gulf: “Without the support of our brothers in the UAE, Saudi Arabia, and Kuwait, Egypt would not have risen [to its feet again],” El Sisi said (watch, runtime: 1:31.) “Don’t allow ill-intended [posts on] social media and reflections to impinge on our relationship as brothers.” El Sisi’s statements come days after he denied a rift with Saudi Arabia and accused local media and social media users of trying to foment trouble, in the wake of a public spat started by two Saudi commentators who publicly criticized Egypt’s economic policies.
Friends, not foes: Kelma Akhira’s Lamees El Hadidi said El Sisi had made a “clear statement on the solid relationship between Egypt and Saudi Arabia or Egypt and the UAE” (watch, runtime: 2:22.) El Sisi’s comments at the summit also got coverage from Al Hayah Al Youm (watch, runtime: 3:43), El Hekaya’s Amr Adib (watch, runtime: 3:32), and Masa’a DMC (watch, runtime: 3:02.)
The privatization program is also still getting airtime, with Kelma Akhira’s El Hadidi searching for assurances on whether the government will be capable of selling stakes in 32 state-owned companies within a year as planned. “I believe the challenge in this plan would be related to the readiness of the 32 state-owned companies for the entry of private strategic investors or offerings on the EGX,” former EGX board member Ahmed Abou El Saad told El Hadidi (watch, runtime: 9:52). He said a number of the named companies are ready, but added that completing this number offerings within a year would require “a vast army of investment bankers.” Abou El Saad said he’s hoping to see a major chunk of the companies make offerings through “investments as a capital increase… This will be a form of FDI, albeit indirectly.”
A renewed bid to revive the cotton and textile sector: PM Madbouly said the government would spend EGP 30 bn to reform the state-owned Cotton & Textile Industries Holding Company. Madbouly said the plan will see the private sector invited to participate in the management, operations and marketing of the cotton and textile sector, during a visit to Gharbia governorate (watch, runtime 8:03.) The story got attention from El Hekaya’s Adib (watch, runtime: 16:26.)