Good afternoon, ladies and gentlemen , andwelcome to this hot and humid Monday that is making us look forward to tomorrow’s slightly cooler climes.

THE BIG STORY TODAY

New digital platform to set up companies coming? The General Authority for Freezones and Investments (GAFI) is launching “within a few days” a new digital platform to establish new companies through the authority, Asharq Business quotes GAFI CEO Hossam Heiba as saying at a presser today. Foreign investors will also soon be able to get one-year residency permits within 10 days, Heiba said.

THE BIG STORY ABROAD

The international business press is offering up a mixed bag of headlines this afternoon , with the bankruptcy of US trucking firm Yellow filing for bankruptcy leading the conversation in Bloomberg and the Wall Street Journal. The company had said last week it would shut down operations after failing to refinance USD 1.5 bn of debt. Meanwhile, the discovery of a five-month breach of Russia’s NPO Mashinostroyeniya, a rocket design institution, by North Korean hackers, is getting top billing from Reuters.

** CATCH UP QUICK on the top stories from today’s EnterpriseAM :

  • Egypt added another USD 69 mn to its foreign reserves in July: Reserves inched up to USD 34.88 bn in July from USD 34.81 bn in June.
  • Does China’s Midea want Zanussi? China-based Midea Group is eyeing Swedish appliances manufacturer Electrolux Group’s Zanussi brand and factories in Egypt.
  • Loans to keep the lights on: State utilities firm the Egyptian Electricity Holding Company (EEHC) and state oil company the Egyptian General Petroleum Corporation (EGPC) have each borrowed EGP 10 bn from local banks to shore up our power infrastructure and fuel supplies.

The Enterprise Finance Forum is taking place on 18-19 September at the St. Regis Hotel in Cairo. This flagship forum is the latest in our must-attend series of invitation-only, C-suite-level gatherings that allow senior members of our community to openly and frankly discuss critical issues in key sectors of the economy.

TAP OR CLICK HERE if you want to express interest in attending. We’ll be sending out the first batch of invitations soon.

Do you want to become a commercial partner? Ping a note to Moustafa Taalab, our head of commercial, or fill out this form and we’ll be in touch.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

LISTEN TO OUR PODCAST-

MISSED THE ENTERPRISE EXPORTS AND FDI FORUM? The EnterprisePodcast has you covered : The Enterprise Podcast’s forum series has been bringing you audio recordings of what was said on stage at the Enterprise Exports and FDI Forum,which took place in May. Throughout, we learned lessons from some of Egypt’s biggest exporters on how Egypt can export its way out of a crisis. We heard everything from how to build an exports and FDI strategy, to identifying a foreign partner and tapping into a global supply chain.

WANT TO LISTEN? Head to: Apple Podcast | Spotify | Google Podcast | Anghami.

IT’S THE FINAL EPISODE- Our final panel of the day was, naturally, the most forward looking. Our panelists discussed how the companies — be they in age-old industries or emerging ones — have adapted to changes to better position their businesses for an uncertain future. We were joined by Nadia El Tawil, investment officer at pan-African private equity firm AfricInvest, Mostafa Bedair , CEO of Giza Seeds and Herbs, and Abdallah Sallam, CEO of Madinet Masr.

OUR FORUM SERIES CONTINUES NEXT SUNDAY WITH THE ENTERPRISE CLIMATE FORUM- Fresh off the heels of a successful COP27, we held our first forum to dive deep into the fundamentals of what we think is the world’s most important industry. The conversations ranged from exploring the business opportunities for Egyptian entrepreneurs, companies and startups in climate, to demystifying green hydrogen, and how we finance our green transition. And we did it all in the Grand Egyptian Museum.

☀️ TOMORROW’S WEATHER- The mercury will peak at a cooler 37°C and drop to 25°C in the evening, according to our favorite weather app.

Tags: