We’re watching this morning: is the state ownership policy document coming out this week?

Good morning, dear readers. Welcome to the start of a new work week.

Will we see the full ‘State Ownership Policy Document’ this week? The government could this week publish a “state-owned policy document” outlining how it plans to withdraw from certain sectors of the economy. A leaked copy obtained by the media this month showed that the government intends to step down completely from about 79 activities, and increase the private sector’s contribution to 45 other activities. The strategy comes as part of the government’s plan to double the private sector’s contribution to the economy over the next three years.

Prime Minister Mostafa Madbouly is currently visiting the UAE capital Abu Dhabi to launch an industrial partnership with the UAE and Jordan.With the aim of attracting more foreign direct investment, according to a statement by the Prime Minister. We have more about Madbouly’s visit in our post this morning.

Taxpayers can receive partial relief from late fines provided they repay Tax due before 30 June, According to a cabinet statement. The draft law prepared by the Ministry of Finance provides that financiers are exempt from part of the delay consideration and the additional tax on delayed income tax, value added tax, stamp duty and development fees.

This is not the first time that taxpayers have been granted exemption from demurrage: The previous repetition of the bill in 2020 resulted in the state waiving 100% of late fees if taxes were paid before the bill passed the House, and dropping a portion of the fees thereafter, depending on whether the tax within 60 or 120 or 120 have been paid. 180 days.

The companies listed on the Egyptian Stock Exchange have until Tuesday to submit their financial statements for the first quarter of 2022.

she decides The US Chamber of Commerce has postponed its annual general meeting, Which was scheduled for Sunday. Chamber officials will soon set the new date.

Exclusion of people with chronic diseases to perform Hajj this year: “People with chronic illnesses will not be able to perform the Hajj this year, for fear of their health,” Social Solidarity Minister Nevin Al-Kabbaj said in a telephone conversation with Sherif Amer on the “Happening in Egypt” program ( see, playing time: 7:27).

Fewer visas this year: ““The number of Hajj visas available for Egypt this year is equal to 25% of what we used in previous years,” Al-Kabbaj said.

happens today –

The Senate will meet again today to discuss the government’s economic and social development plan for the next financial yearAccording to Ahram Online. The plan will be referred to the House of Representatives if approved by the Senate.

Competitions continue today El Gouna International Open Squash Championship 2022, which started last Friday, and lasts until next Friday, June 3, These include some of the players, such as world number one Nouran Gohar, and second seed Ali Farag, who won the World Cup under the auspices of the Commercial International Bank two days ago. The total prize pool for both men’s and women’s competitions is $ 180,000.

Happens this week –

The Islamic Development Bank holds Its annual meetings for 2022 In Sharm El Sheikh this week. The meetings are expected to address issues of sustainable development and climate change.

Monkey pox is not (yet) a new epidemic – but the government get ready to confront him. Khaled Abdel Ghaffar, acting minister of health, told the program “On My Responsibility” last week that the Ministry of Health is seeking to obtain raw materials needed to manufacture monkey medicine and import equipment to detect the disease. (see, run time: 2:40:11).

The World Health Organization warns that the outbreak could be ‘just the beginning’: “We do not know if we are just seeing the beginning of the climax [أو] Whether there are many unnoticed cases in the communities, “a senior WHO official said during a press conference on Friday, quoted by AFP. The World Health Organization has so far recorded nearly 200 cases in countries where the disease is rarely found, including the United States, Canada and Europe.

numbers covid

The average number of officially registered cases of “Covid-19” in the past week was about 4 new infections per day. A decrease of an average of 5 new infections per day in the week before last, according to the Egyptian Ministry of Health, in a statement yesterday. The average number of deaths recorded by the ministry stabilized at two deaths a day for the second week in a row. So far, about 35.2 million people have been fully vaccinated, and about 3.4 million people have been vaccinated with booster doses, the statement said.

The world’s most prominent news –

Ukraine increases calls for heavy weapons as Russia makes gains in the eastIt appears that things turned in favor of Russian forces in their struggle in eastern Ukraine after Moscow yesterday took control of a strategic town there and brought it closer to full control of Luhansk province. U.S. and UK officials said at the weekend that they would agree to Ukraine’s demands for heavy weapons and long-range missiles to repel the Russian attack – a move that warned Russian state television broadcasters with a “harsh response “from Moscow and could take the conflict to Direct confrontation with NATO.

New calls for peace talks: Russian President Vladimir Putin said in a telephone conversation with French President Emmanuel Macron and German Chancellor Olaf Scholz yesterday that Moscow was ready to resume peace talks with Ukraine, but warned Western governments not to send more weapons to Ukraine. More on developments in the war via Reuters, The Associated Press, The Wall Street Journal and The New York Times.

Emerging market bonds deliver their biggest losses in almost 30 years, with investors fleeing risky assets due to concerns about growth, rising interest rates and the war in Ukraine, according to the Financial Times. The JPMorgan Emerging Market Bond Index fell 15% year-to-date, making it the index’s worst annual debut since 1994.

An estimated $ 36 billion has been invested in emerging market bond funds since the beginning of 2022Equity flows also turned negative this month, according to data from EPFR. David Honer, chief strategist for emerging market and economic strategist at Bank of America Global Research, told the Financial Times the situation could only get worse. He added, “The important thing is that we have a lot of inflation around the world, and monetary policymakers remain amazed at how high it is.” He continued: “This means more monetary tightening and that central banks will continue to do so until something makes a difference, whether in the economic or market arena.”

On the other hand, US equities ended the journey of declines in Friday’s trading, according to Bloomberg. The S&P 500 rose 6% for the week, achieving its biggest gain since 2020. “I think this is the beginning of the long-awaited upward journey,” one strategist told CNBC.

in notebook –

This week, the government launches the second guide to the development of legislation: The Business Climate Reform Initiative in Egypt (Erada) unveils the second guide to the development of aid legislation in Egyptian ministries and authorities at a press conference on Tuesday, in collaboration with the Ministry of Planning, the Sigma program of the Organization for Economic Cooperation and Development, and the European Union, according to a ministry statement. The guide sets out steps and criteria for drafting legislation and studying the legislative impact in line with economic development, the provision of sound administrative services and the assurance of an attractive investment climate.

Tariq Amer chairs the annual meetings of the International Monetary Fund and the World Bank for this year: The Governor of the Central Bank of Egypt, Tarek Amer, will chair the annual meetings of the International Monetary Fund and the World Bank to be held in Washington next October, according to what the Central Bank announced in a statement (PDF). Amer will deliver keynote speeches at both meetings, and chair the Board of Governors’ Meetings of the World Bank, the International Monetary Fund and the European Bank for Reconstruction and Development. The meetings will be held from 10 to 16 October.

Egyptyou will add Annual meetings of the African Development Bank next year. The meetings will be held from 22 to 26 May 2023 in Sharm El-Sheikh, the bank said yesterday.

You can view the full notebook at Our website, In which you will find a comprehensive list of upcoming news events, national holidays, conferences and everything that affects the business and financial community.

Welcome to a new issue of “What’s Next”? The first exclusive frontier market platform exploring the next generation of successful companies in Egypt, UAE and Saudi Arabia, and exploring investment trends and future growth journeys for the sectors.

In today’s issue: Last week we went to the Nigerian capital, Lagos, where we spent five days with a number of Egyptian entrepreneurs on a discovery tour through the country that has received the bulk of the funding for start-ups over the past year. Here’s what we discovered there.

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