DIPLOMACY-

Palestine and Israel have agreed to set up a “mechanism to curb and counter violence, incitement and inflammatory statements” during talks in Sharm El Sheikh attended by Egyptian, Jordanian and US officials yesterday, according to a statement. Israel has also agreed to postpone discussions on establishing new settlement units in the occupied West Bank for four months and to end authorizing illegal outposts for six months.

INVESTMENT-

More Russian investment incoming? President Abdel Fattah El Sisi sat with a Russian delegation headed by Deputy Prime Minister and Trade Minister Denis Manturov yesterday. The meeting focused on Russian investment and joint ventures in Egypt, Ittihadiyasaid. Among the priority industries: grains and food, manufacturing, agriculture, and energy, according to a readout from the Russian government.

A push for the Egyptian-Eurasian trade agreement: “Considerable progress has been made since the launch of this process in 2019 … we are looking forward to reaching the final agreements as soon as possible,” Manturov said.

CONSUMER FINANCE-

Abu Dhabi Islamic Bank (ADIB) Egypt intends to launch a digital consumer finance companyin 2H 2023, and is working with the Finance Ministry to issue EGP-denominated sukuk.

FINTECH-

Mastercard is launching an e-wallet in Egypt with a telecom company.

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