{"id":543802,"date":"2022-02-20T04:25:45","date_gmt":"2022-02-20T04:25:45","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/20\/this-morning-old-rent-law-up-in-the-house-us-climate-envoy-john-kerry-makes-a-visit\/"},"modified":"2022-02-20T04:25:45","modified_gmt":"2022-02-20T04:25:45","slug":"this-morning-old-rent-law-up-in-the-house-us-climate-envoy-john-kerry-makes-a-visit","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/20\/this-morning-old-rent-law-up-in-the-house-us-climate-envoy-john-kerry-makes-a-visit\/","title":{"rendered":"THIS MORNING: Old rent law up in the House + US Climate Envoy John Kerry makes a visit"},"content":{"rendered":"

Good morning, wonderful people, and welcome to another busy workweek. <\/strong>It\u2019s the kind of morning that sends you plenty of mixed signals.<\/p>\n

Lots is going well here at home: <\/strong>A great CBE report on fintech is out, FAB\u2019s bid for our friends at EFG Hermes is ticking along, a major UAE investor is looking at Egypt, Europe wants lots of our natural gas, and we just locked in wheat away from the fields on which Russia and Ukraine are locking horns.<\/p>\n

But the mood outside our borders is \u2026 less welcoming:<\/strong> Those war drums are beating louder and louder in Ukraine \u2014 and JPMorgan thinks the US Federal Reserve could go for nine quarter-point rate hikes this year.<\/p>\n

<\/a> SMART POLICY- The Central Bank of Egypt is out this morning with its inaugural <\/strong>Fintech<\/a><\/strong><\/a><\/strong>Landscape Report (pdf)<\/a><\/strong>, underscoring how quickly the nation is making progress on its ambition of becoming \u201ca globally recognized fintech hub in the Arab world and Africa.\u201d<\/a> Egyptian fintech players raised over 4x more capital in 2021 than they did the year before<\/strong>, the report says, with some 32 startups landing USD 159 mn against the USD 37.1 mn that 25 outfits raised the year before. We\u2019ll have a deep dive into the report next Sunday in What\u2019s Next, but fintech founders (and those dreaming of their own startups) will want to have a close look at pp. 14-15, which provides a great graphical overview of the sector and a map of just about all major players.<\/p>\n

Critically, the CBE also includes a roadmap to where it sees room for the industry to<\/strong> grow <\/strong>by providing a clear summary of its \u201cfive pillars of fintech and innovation strategy\u201d starting on page 21.<\/p>\n

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

PSA- Expect a foggy commute today and tomorrow<\/strong>: The national weather service<\/a> is forecasting morning fog on the roads leading in and out of Cairo for the first part of the week. Yesterday\u2019s stormy weather \u2014 which saw dense clouds, lightning and rain hit Cairo and Suez (watch, runtime: 0:18<\/a>) and snow blanket parts of Sinai (watch, runtime: 0:09<\/a>) \u2014 is now in our rearview mirror. Our favourite weather app is predicting sunny skies from and a high of 19\u00b0C today.<\/p>\n

Look for the weather to warm up a bit through Wednesday <\/strong>with a daytime high of 23\u00b0C before the mercury slides below 20\u00b0C for the weekend.<\/p>\n

The House of Representatives is back in session today.<\/strong> On the agenda:<\/p>\n