{"id":612196,"date":"2023-12-19T00:00:00","date_gmt":"2023-12-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&p=612196"},"modified":"2025-12-17T02:45:57","modified_gmt":"2025-12-17T02:45:57","slug":"el-sisi-gets-a-third-term-heres-what-to-watch-for-next-on-the-economy","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/el-sisi-gets-a-third-term-heres-what-to-watch-for-next-on-the-economy\/","title":{"rendered":"El Sisi gets a third term \u2014 here\u2019s what to watch for next on the economy"},"content":{"rendered":"
\n
\n
\r\n
\r\n \r\n
\r\n\r\n \r\n
\r\n \"\" <\/div>\r\n <\/a>\r\n\r\n \n
\n\n\t\n\t
\n\n\t\t\n\t\t

THE BIG STORY ABROAD is one that has potentially big implications here at home. <\/strong>The global business press has zeroed in on a new US-led task force to protect vessels passing through the Red Sea. The move came following repeated Houthi attacks on ships passing through the waterway. (Reuters<\/a> | Bloomberg<\/a> | FT<\/a>)<\/p>\n

^^ Both stories are below in this morning\u2019s news well. <\/p>\n

WATCH THIS SPACE-<\/p>\n

Home appliances are getting more expensive: <\/strong>Local appliance manufacturers are looking to hike prices after Al Ezz Dekheila Steel, the country\u2019s sole maker of sheet metal, raised its own prices, Al Borsa<\/a> reports. The company raised by EGP 2.5k<\/font> this week the price of sheet metal, a component heavily used in the manufacture of ovens, refrigerators, and dishwashers, the newspaper reports.<\/p>\n

HAPPENING TODAY- <\/p>\n

<\/a> The House is in session:<\/strong> MPs are reconvening today after a one-month break to discuss and vote on a draft law to establish a syndicate for graduates of tech colleges and schools. MPs will also meet tomorrow to discuss and vote on a number of bills and presidential decrees.<\/p>\n

<\/a> GERD talks 4.0:<\/strong> Representatives from Egypt, Ethiopia, and Sudan gathered in Addis Ababa yesterday to kick off the fourth round of talks over the filling and operation of the Grand Ethiopian Renaissance Dam (GERD), according to a statement<\/a>. This is the fourth round of negotiations since President Abdel Fattah El Sisi and Ethiopian Prime Minister Abiy Ahmed pledged in July<\/a> to finalize an agreement within four months. The statement did not disclose how long this round of talks is expected to last. <\/p>\n

** CORRECTION- <\/strong>We incorrectly reported that this latest round of GERD talks kicked off on Saturday and wrapped up yesterday, based on televised comments<\/a> by Irrigation Minister Hani Suweilam. <\/p>\n

<\/a> <\/p>\n

HAPPENING THIS WEEK-<\/p>\n

<\/a> It\u2019s interest rate week:<\/strong> The Central Bank of Egypt\u2019s Monetary Policy Committee will meet to set interest rates on Thursday. Our customary analyst poll<\/a> sees the CBE holding rates steady for the third meeting in a row. Analysts participating in a Reuters poll<\/a> shared the same outlook, with the median forecast being that the CBE will leave rates on hold, expecting the bank to wait until January before it hikes rates or devalues the currency \u2014 six of the 14 analysts surveyed have penciled in a 100-300 bps hike.<\/p>\n

Refresher: <\/strong>The CBE has left rates unchanged during its past two meetings in November<\/a> and September<\/a>, last hiking rates at its August meeting<\/a>. Rates have risen 1.1k bps since March 2022.<\/p>\n

WAR WATCH-<\/p>\n

<\/a> #1- Gazans back in the north? <\/strong>Israeli Defense Minister Yoav Gallant said that Gazans would likely be allowed back into the north as Israel becomes \u201cable to distinguish between different areas in Gaza,\u201d he said<\/a> during a joint presser with US Defense Secretary Lloyd Austin.<\/p>\n

#2- UNSC postpones ceasefire vote: <\/strong>The UN Security Council has delayed<\/a> a vote calling for a sustainable \u201ccessation of hostilities in Gaza\u201d to allow diplomats more time to meet US objections to the wording of the resolution. The US said that it would not agree to a resolution calling for the \u201ccessation of hostilities,\u201d but it might accept a call for a \u201csuspension of hostilities.\u201d<\/p>\n

<\/p>\n

*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p>\n

In today\u2019s issue: <\/strong>We take a look at the biggest green economy news from the year, with a rundown of all the big private and public green projects on the cards.<\/p>\n\n\t<\/div>\n\n\t\n<\/article>\n\n\n

\n
Tags:<\/div>\n
\n Abdel Fattah El Sisi<\/a>\n \n Election 2023<\/a>\n \n What We're Tracking Today<\/a>\n \n <\/div>\n <\/div>\n <\/div>\r\n <\/div> \r\n \n \n\n <\/div>\n<\/div>\n<\/section>\n
\n
\n
\r\n
\r\n \r\n
\r\n\r\n \r\n
\r\n <\/div>\r\n <\/a>\r\n\r\n \n
\n\n\t\n\t
\n\n\t\t\n\t\t

<\/a><\/span><\/p>

\n

DISCOVER SOMABAY: <\/span>Embark on a journey of discovery in the heart of Somabay, where crystal-clear waters meet golden sands and luxury meets serenity. Experience a world of adventure, relaxation, and natural beauty like no other. From thrilling water sports to world-class golf, Somabay offers it all. Explore vibrant coral reefs, unwind in luxurious spas and savor exquisite cuisine. Your dream destination awaits, where every moment is a discovery.<\/span><\/p>\n<\/div>\n\t<\/div>\n\n\t\n<\/article>\n\n\n <\/div>\r\n <\/div> \r\n \n \n\n <\/div>\n<\/div>\n<\/section>\n

\n
\n
\r\n
\r\n \r\n
\r\n
1<\/div>\r\n\r\n

Politics<\/p>\r\n

\r\n \r\n What to look for next on the economy after Abdel Fattah El Sisi cruises to a third term in office as president of Egypt <\/a>\r\n <\/h3>\r\n\r\n \r\n\t\t\t\t\t\n
\n
\n \"\"\n Share Story\n \n