{"id":542828,"date":"2022-01-19T02:44:06","date_gmt":"2022-01-19T02:44:06","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/19\/this-morning-korean-president-arrives-today-youll-need-to-get-boosted-to-go-to-abu-dhabi\/"},"modified":"2022-01-19T02:44:06","modified_gmt":"2022-01-19T02:44:06","slug":"this-morning-korean-president-arrives-today-youll-need-to-get-boosted-to-go-to-abu-dhabi","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/19\/this-morning-korean-president-arrives-today-youll-need-to-get-boosted-to-go-to-abu-dhabi\/","title":{"rendered":"THIS MORNING: Korean President arrives today + You\u2019ll need to get boosted to go to Abu Dhabi"},"content":{"rendered":"

Good morning, friends, and welcome to another very busy news morning <\/strong>as this packed work week races to a close.<\/p>\n

WHAT\u2019S HAPPENING TODAY-<\/strong><\/p>\n

<\/a> South Korean President Moon Jae-in is <\/strong>due in town<\/a><\/strong> from today through <\/strong>Friday<\/strong> in what will be the first visit to Egypt by a South Korean president in 16 years. Moon will meet with President Abdel Fattah El Sisi during a regional tour. The South Korean leader was in Riyadh<\/a> yesterday, after swinging through the UAE<\/a> the day before.<\/p>\n

On the agenda:<\/strong> The two presidents are expected<\/a> to hold talks with the aim of signing a trade agreement between the countries, as well as discuss cooperation on EVs, water desalination, green hydrogen and renewables.<\/p>\n

Irrigation Minister Mohamed Abdel Aty is at the Dubai Expo today for the two-day <\/strong>Water-Food-Energy Summit<\/a><\/strong>, which kicked off yesterday, according to the ministry<\/a>.<\/p>\n

It\u2019s <\/strong>Day 3<\/a><\/strong> of digital Davos: <\/strong>Environment Minister Yasmine Fouad will make an appearance on the third day of the virtual Davos Agenda today when she takes part in a discussion on investment in low-carbon technologies. Also today Germany\u2019s new chancellor Olaf Scholz will address the forum at the same time as the Saudi energy minister, Prince Abdulaziz bin Salman Al Saud, joins a panel to discuss the transition to green energy.<\/p>\n

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Tax breaks for real estate funds coming?<\/strong> The Financial Regulatory Authority and the Finance Ministry are in talks over introducing tax incentives for real estate funds and issuing new rules for establishing mining funds, FRA head Mohamed Omran told Al Arabiya<\/a> on Monday.<\/p>\n

Investor requests for incentives<\/strong> will now be handled and reviewed through a new<\/strong> \u201cspecial incentives\u201d unit <\/strong>the General Authority for Investments and FreeZones (GAFI) set up, according to a statement<\/a> yesterday. The unit will determine whether or not they are eligible for incentives and streamline procedures for filing for a request, GAFI said.<\/p>\n

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The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

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THE BIG STORIES ABROAD-<\/strong><\/p>\n

Microsoft just made the largest-ever gaming acquisition:<\/strong> Microsoft has announced<\/a> that it will buy leading games publisher Activision for USD 68.7 bn, a purchase which could help the tech giant in its push into the mobile-gaming and metaverse markets. The company has agreed to purchase Activision at USD 95 per share, making it both the biggest-ever gaming industry acquisition and a record-breaking all-cash transaction. The transaction will make Microsoft the third-largest gaming company in the world by revenue, after Tencent and Sony. The story is getting a lot of traction in the foreign press this morning, from Bloomberg<\/a> and Reuters<\/a> to the Wall Street Journal<\/a> and the New York Times<\/a>.<\/p>\n

US, Russian foreign ministers to meet as tensions escalate over Ukraine:<\/strong> US Secretary of State Anthony J. Blinken will meet with Russian Foreign Minister Sergey Lavrov in Geneva on Friday, as warnings escalate of an impending Russian invasion of Ukraine.<\/p>\n

The Ukraine crisis could impact Europe\u2019s gas supply: <\/strong>Germany yesterday said it could halt plans for the Nord Stream 2 pipeline that will transport Russian gas to Europe if Ukraine is invaded, while Greece said it would back a strong EU response to Russian aggression.<\/p>\n

Egyptian gas could plug the gap <\/strong>if Europe loses Russia as a supplier, Greece\u2019s foreign minister said \u2014 as could Cyprus and Israel. We humbly suggest that Enterprise may have pointed that out<\/a> before, too.<\/p>\n

MEANWHILE, TO OUR WEST- The UN thinks it is still \u201cvery reasonable and possible\u201d for <\/strong>Libya to hold elections by June<\/strong>, UN special adviser on Libya Stephanie Williams told the Associated Press<\/a>. The country was set in December to elect its first president since the 2011 ouster of former President Muammar Gaddafi, but elections were postponed<\/a> at the request of its election body amid disputes threatening the ballot.<\/p>\n

PSA- Get your booster if you want to visit Abu Dhabi:<\/strong> Anyone wanting to enter the emirate must obtain a booster if it\u2019s been more than six months since they were fully jabbed \u2014 and residents already in Abu Dhabi will need to do the same to access public spaces. The National<\/a> has a good explainer and Q&A if you\u2019re heading to Abu Dhabi anytime soon and you can check out the emirate\u2019s Al Hosn app on Twitter<\/a>. The Associated Press<\/a> and Bloomberg<\/a> also have the story.<\/p>\n

MARKET WATCH- <\/strong><\/p>\n

<\/a> Oil prices hit a fresh seven-year high yesterday<\/strong> \u2014 and are up another 1.6% this morning as Brent futures rose to 88.90 \/ bbl. That\u2019s the highest level since October 2014.<\/p>\n

You can trace this morning\u2019s rise to an explosion yesterday<\/strong> that knocked out a key pipeline in the transport of oil from Iraq to Europe, Bloomberg<\/a> reports, pushing prices yet higher after they passed the seven-year record during Tuesday\u2019s trading. The cause of the blast, which occurred in the Turkish stretch of the pipeline running from Iraq to the Mediterranean port of Ceyhan, is not yet known.<\/p>\n

Making matters worse: <\/strong>Russia may only be able to deliver about half of the production increases agreed by OPEC+ over the next six months, Bloomberg<\/a> adds, on the back of a reduction in drilling. Planned production increases by the cartel to meet the recovery in demand have fallen short of targets as several member countries struggle to up their output, meaning the market could be set to get even tighter this year.<\/p>\n

A return to three-figure oil?<\/strong> Brent \u2014 which has risen almost 14% since the start of the year \u2014 could breach the USD 100 \/ bbl mark this year unless supply is increased, analysts told the Financial Times<\/a>.<\/p>\n

Coming up today: <\/strong>Time for Erdonomics-lite? <\/strong>The Turkish central bank looks likely to leave interest rates on hold when it meets tomorrow, after President Recep Tayyip Erdogan indicated that interest and FX rates will come down \u201cslowly,\u201d marking a change of tone, according to Bloomberg<\/a>. This comes as inflation in Turkey is expected to peak at around 40% in the coming months before dropping to about 27% by the end of the year, according to a Reuters<\/a> poll, having surged to 36% in December. The country\u2019s economy is reeling from a series of unorthodox rate cuts spearheaded by Erdogan that saw the TRY lose almost half its value against the greenback last year, making it 2021\u2019s worst performing currency.<\/p>\n

CIRCLE YOUR CALENDAR-<\/strong><\/p>\n

Taking stock of Nafeza:<\/strong> Lynx Strategic Business Advisors is hosting a webinar this Thursday, 20 January, at 1pm CLT that will see Customs Authority chief Elshahat Ghatwary and Misr Technology Services\u2019 Khaled Nassef discuss the progress on implementing the new digital customs system, Nafeza<\/a>. The keynote speakers will also discuss their recommendations for the way forward and how to expand the application of the system. You can register for the webinar here<\/a>.<\/p>\n

The Cairo International Book Fair<\/strong> opens on 26 January at the Egypt International <\/strong>Exhibition Center.<\/strong> The event runs 13 days until 7 February.<\/p>\n

Applications are open until 31 March to join the Femtech Accelerator Program<\/strong> run by Flat6Labs<\/a> and women\u2019s healthcare firm Organon<\/a>. The four-month-long virtual accelerator will support women-led digital healthcare start-ups operating in MENA to build products, test market fit and improve business models. You can register at this link<\/a>.<\/p>\n

Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n

enterprise<\/p>\n

*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education.<\/p>\n

In today\u2019s issue: <\/strong>The Decent Life initiative \u2014 aka Hayah Karima \u2014 is being hailed as the biggest developmental initiative ever undertaken by Egypt. The initiative spans sectors such as infrastructure, health, education, and water, with earmarked investments around USD 45-50 bn. In today\u2019s story we detail how the initiative started, the current phase and its targets, as well as the impact the initiative has had and how it\u2019s measured.<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, friends, and welcome to another very busy news morning as this packed work week races to a close. WHAT\u2019S HAPPENING TODAY- South Korean President Moon Jae-in is due in town from today through Friday in what will be the first visit to Egypt by a South Korean president in 16 years. 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WHAT\u2019S HAPPENING TODAY- South Korean President Moon Jae-in is due in town from today through Friday in what will be the first visit to Egypt by a South Korean president in 16 years. 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We\u2019re only through two days of the week so far, but it already feels like it should be Thursday. As we expected yesterday, the newsflow is picking up today, so let\u2019s get to it. THE BIG STORIES TODAY #1- Make way for our first SPAC: A consortium\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":542671,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/11\/this-morning-egypts-afcon-2021-journey-begins-tonight-fed-vice-chair-resigns-amid-scandal\/","url_meta":{"origin":542828,"position":2},"title":"THIS MORNING: Egypt\u2019s Afcon 2021 journey begins tonight; Fed vice chair resigns amid scandal","author":"enterpriseam admin","date":"11 January 2022","format":false,"excerpt":"Good morning, friends, and happy hump day. Two themes stand out in a very busy issue this morning: The crazy progress we\u2019ve made building out green energy infrastructure in the past decade (see Coffee with\u2026 and Going Green, below) and continued strong interest in retail (where the sports segment is\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":542886,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/23\/korean-presidential-visit-brings-usd-1-3-bn-in-new-financing-raft-of-cooperation-agreements\/","url_meta":{"origin":542828,"position":3},"title":"Korean presidential visit brings USD 1.3 bn in new financing, raft of cooperation agreements","author":"enterpriseam admin","date":"23 January 2022","format":false,"excerpt":"We could have a trade agreement with South Korea soon: President Abdel Fattah El Sisi and South Korean President Moon Jae-in agreed on Thursday to conduct a joint feasibility study of a bilateral trade liberalization agreement, according to the Korean press. If it comes to fruition, the agreement would be\u2026","rel":"","context":"In "Development finance"","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":543252,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/19\/this-evening-egypt-registers-egp-3-2-primary-surplus-in-1h2021-2022-south-koreas-president-is-in-cairo-uk-inflation-hit-highest-rate-in-three-decades\/","url_meta":{"origin":542828,"position":4},"title":"THIS EVENING: Egypt registers EGP 3.2 primary surplus in 1H2021-2022 + South Korea\u2019s President is in Cairo + UK inflation hit highest rate in three decades","author":"enterpriseam admin","date":"19 January 2022","format":false,"excerpt":"Good afternoon, wonderful people. It\u2019s been a pleasantly relaxing day for news after the insanity of this morning, so we propose you take a moment or two and begin your afternoon commute with this gloriously profane \u201cdigital syllabus\u201d from a 74-year-old US professor who\u2019s clearly not delighted a the prospect\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":542779,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/17\/egypt-to-receive-usd-1-bn-soft-loan-from-south-korea\/","url_meta":{"origin":542828,"position":5},"title":"Egypt to receive USD 1 bn soft loan from South Korea","author":"enterpriseam admin","date":"17 January 2022","format":false,"excerpt":"South Korea will provide a USD 1 bn soft loan to Egypt, the country\u2019s ambassador to Cairo, Hong Jin-wook (Twitter), said at a press conference yesterday, according to AlMal. Moon did not provide details about what the money will be used for or speak on when it could be disbursed.The\u2026","rel":"","context":"In "Development finance"","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/542828","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=542828"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/542828\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/542826"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=542828"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=542828"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=542828"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=542828"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=542828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}