{"id":546646,"date":"2022-05-24T03:54:45","date_gmt":"2022-05-24T03:54:45","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/24\/this-morning-shoukry-el-molla-at-davos-mbs-in-egypt-next-month\/"},"modified":"2022-05-24T03:54:45","modified_gmt":"2022-05-24T03:54:45","slug":"this-morning-shoukry-el-molla-at-davos-mbs-in-egypt-next-month","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/24\/this-morning-shoukry-el-molla-at-davos-mbs-in-egypt-next-month\/","title":{"rendered":"THIS MORNING: Shoukry + El Molla at Davos; MbS in Egypt next month"},"content":{"rendered":"<p><strong>Good morning, wonderful people, and welcome to another very heavy news day <\/strong>in which business news again tops our tl;dr \u2014 including M&A news and a massive raise by one of the newest citizens of Planet Startup. We have the rundown on everything in this morning\u2019s news well, below.<\/p>\n<p><strong>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p>\n<p><strong>It\u2019s Day #2 at Davos:<\/strong> The <a href=\"https:\/\/www.weforum.org\/events\/world-economic-forum-annual-meeting-2022\/programme\">second day<\/a> of the gathering of global business, policy and media chiefs will feature talks on everything from global tax and the future of work, to the digital economy and all things climate. Our friend <strong>Mahmoud Mohieldin<\/strong>, wearing his hat as UN high-level climate action champion for COP27 will join a panel discussion on <a href=\"https:\/\/www.weforum.org\/events\/world-economic-forum-annual-meeting-2022\/sessions\/climate-transition-in-emerging-economies\">climate transition in emerging economies<\/a> this morning at the World Economic Forum (WEF) at Davos (11:30 CLT). European Commission President Ursula von der Leyen, Nato Secretary-General Jens Stoltenberg, and Spanish PM Pedro Sanchez will deliver special addresses.<\/p>\n<p><strong>Foreign Minister Sameh Shoukry and Oil Minister Tarek El Molla gave interviews on the <\/strong><strong>sidelines of the gathering yesterday<\/strong>, answering questions on how the government is responding to the spillover effects from the crisis in Ukraine. Here are the highlights:<\/p>\n<ul>\n<li><strong>The energy crisis is good for Egyptian gas exports: <\/strong>As Europe searches for new sources of energy, Egypt is \u201cwell-positioned\u201d to take advantage of the crisis and increase its role as a regional gas hub in the East Mediterranean, El Molla told CNBC <a href=\"https:\/\/www.youtube.com\/watch?v=SzgbdyTxDrs\">(watch, runtime: 3:39)<\/a>.<\/li>\n<li><strong>When can Europe expect more gas from Egypt?<\/strong> Egypt will be in a position to increase exports to Europe in the next two or three years, the minister said. International energy companies are investing more to accelerate gas production in the region, which will allow Egypt to boost LNG volumes, he said.<\/li>\n<li><strong>Elevated oil prices won\u2019t last forever:<\/strong> El Molla expects oil prices to fall back towards the end of the year, predicting that the OPEC+ alliance of oil producers will eventually agree to raise supply to calm the market (<a href=\"https:\/\/www.youtube.com\/watch?v=m4RJ0WI97Qs\">watch, runtime: 1:53<\/a>).<\/li>\n<li><strong>A risk of civil unrest globally: <\/strong>\u201cThe pressures on normal people could raise the potential of civil unrest. It will be upon governments to do the best they can and to provide the services that can support the population,\u201d Shoukry told the broadcaster (<a href=\"https:\/\/www.youtube.com\/watch?v=Y0ipAQjc46w\">watch, runtime: 2:11<\/a>).<\/li>\n<li><strong>\u201cWe\u2019ll continue to do the best we can\u201d:<\/strong> Asked whether the government is in control of the situation, Shoukry said that ministers are working to tackle inflation and to diversify the country\u2019s food supply.<\/li>\n<\/ul>\n<p><strong>NEXT MONTH-<\/strong><\/p>\n<p><strong>Saudi Crown Prince Mohamed bin Salman is planning to visit Egypt<\/strong> as part of a Middle East \/ EastMed diplomatic tour that will take him to Turkey, Cyprus, Greece and Jordan, <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudi-crown-prince-planning-international-trip-soon-sources-2022-05-23\/\">Reuters<\/a> reports, citing four sources familiar with the matter. The visit could happen at the beginning of July, two of them said. This would be MbS\u2019s first diplomatic tour outside the MENA region since the murder of Saudi dissident Jamal Khashoggi in 2018.<\/p>\n<hr class=\"grey-line\" \/>\n<p><strong>WATCH THIS SPACE #1- The long-awaited executive regulations to the Public-Private <\/strong><strong>Partnership Act will be out \u201cin the coming weeks<\/strong>,\u201d <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2605075\">Al Masry Al Youm<\/a> reports, citing an unnamed Finance Ministry official. The bill <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/352bc0fd-1485-4e6e-ba3c-1eebfb98494f\">passed the House in November<\/a> and aims, among other things, to make it easier for the private sector to engage with the state in sectors including transport, energy, communications, and healthcare.<\/p>\n<p><strong>Good timing:<\/strong> Their publication comes as the government looks to net as much as <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/158188ff-65a9-4146-adc1-5f53c1a3f6e5\">USD 10 bn<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/158188ff-65a9-4146-adc1-5f53c1a3f6e5\">a year for four years<\/a> through a renewed privatization process. As part of that process, the government will look at expanding PPPs to new sectors, according to a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0894c99e-e18e-473e-a869-64812c50988b\">draft policy documen<\/a> that leaked last week. We can expect the government to publish the final document by the end of May.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>THE BIG STORY ABROAD-<\/strong> <strong>It\u2019s a mixed bag of nuts on the global front pages this <\/strong><strong>morning:<\/strong> <a href=\"https:\/\/www.reuters.com\/world\/europe\/eu-oil-embargo-in-days-ukraine-isolation-drives-russia-closer-china-2022-05-23\/\">Reuters<\/a> is reporting that the EU could agree to an embargo on Russian oil \u201cwithin days,\u201d the <a href=\"https:\/\/apnews.com\/article\/abortion-us-supreme-court-politics-health-d8821fc3293e490db54441e6c838da59\">Associated Press<\/a> is looking at the abortion debate in the US, while the <a href=\"https:\/\/www.wsj.com\/articles\/biden-says-u-s-would-intervene-militarily-if-china-invaded-taiwan-11653286228?mod=hp_lead_pos2\">Wall Street Journal<\/a> and the <a href=\"https:\/\/www.nytimes.com\/2022\/05\/23\/world\/asia\/biden-taiwan-china.html\">New York Times<\/a> highlight yesterday\u2019s Sleepy Joe moment that appeared to upend Washington\u2019s decades-long policy towards Taiwan.<\/p>\n<p><strong>WATCH THIS SPACE #2- Erdogan is still trying to patch things up with our part of the <\/strong><strong>world. <\/strong>Turkish Foreign Minister Mevlut Cavusoglu is <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-05-23\/turkish-foreign-minister-to-travel-to-israel-in-landmark-visit?srnd=premium-middle-east\">heading to Israel<\/a> on Wednesday (the first official visit by a Turkish foreign minister in 15 years) and Saudi Crown Prince Mohammed bin Salman will reportedly <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-05-23\/erdogan-invites-saudi-crown-prince-as-turkey-seeks-investment?srnd=premium-middle-east\">visit Ankara<\/a> in the \u201ccoming days.\u201d<\/p>\n<p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/INFINITY-Top-banner-EN-1600x675-v2-02.png?ssl=1\" alt=\"enterprise\" \/><\/p>\n<p><strong>*** 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<p><strong>In today\u2019s issue:<\/strong> Enterprise attended USAID\u2019s Alternative Finance conference yesterday, where the main focus was on how policymakers can get the private sector to buy into Egypt's development program.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning, wonderful people, and welcome to another very heavy news day in which business news again tops our tl;dr \u2014 including M&#038;A news and a massive raise by one of the newest citizens of Planet Startup. We have the rundown on everything in this morning\u2019s news well, below. WHAT\u2019S HAPPENING TODAY- It\u2019s Day #2 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7204],"tags":[1906,72,89,180,1317,1928,301,219,587,195,218,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-546646","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-davos-2022","tag-enterpriseam","tag-israel","tag-legislation","tag-mohammed-bin-salman","tag-ppp-act","tag-sameh-shoukry","tag-saudi-arabia","tag-state-privatization-program","tag-tarek-el-molla","tag-turkey","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"efd93e2f-38b1-4d5a-845c-55538c31513c","order":"0","is_powered_by":true,"story_type":"4","photo_url":"","photo_position":"above","related_issue":[546644],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>THIS MORNING: Shoukry + El Molla at Davos; MbS in Egypt next month - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/24\/this-morning-shoukry-el-molla-at-davos-mbs-in-egypt-next-month\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS MORNING: Shoukry + El Molla at Davos; MbS in Egypt next month\" \/>\n<meta property=\"og:description\" content=\"Good morning, wonderful people, and welcome to another very heavy news day in which business news again tops our tl;dr \u2014 including M&amp;A news and a massive raise by one of the newest citizens of Planet Startup. 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Shoukry at Davos","author":"enterpriseam admin","date":"23 May 2022","format":false,"excerpt":"Good morning, wonderful people, and welcome to a morning packed with M&A news. Two of the three transactions involve inbound foreign (Saudi) investment, as this morning\u2019s tl;dr stack suggests. Unsurprisingly, food, healthcare and finance are all in play. We also have two IPO stories this morning: Fawry is putting on\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","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":567417,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/22\/what-were-tracking-on-22-january-2020\/","url_meta":{"origin":546646,"position":2},"title":"What we\u2019re tracking on 22 January 2020","author":"enterpriseam admin","date":"22 January 2020","format":false,"excerpt":"Introducing Hardhat \u2014 your weekly briefing of all things infrastructure in Egypt: We\u2019re proud to launch our second Enterprise industry vertical \u2014 Hardhat, which will focus each Wednesday on infrastructure. The scope of the Hardhat is massive, covering everything from energy, water, transportation, urban development and even social infrastructure such\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","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":580749,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/17\/this-evening-its-all-about-davos-out-there\/","url_meta":{"origin":546646,"position":3},"title":"THIS EVENING: It\u2019s all about Davos out there","author":"enterpriseam admin","date":"17 January 2023","format":false,"excerpt":"Good afternoon, friends \u2014 we\u2019ve just made it halfway through what has felt like the longest week on record. Maybe we all got too used to the long weekends?DRIVING THE CONVERSATION TODAY- It\u2019s day two of Davos: The five-day World Economic Forum at Davos \u2014 under the theme \u201cCooperation in\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","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\/2023\/1\/680.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":580776,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/18\/this-evening-day-three-at-davos-brings-a-little-more-optimism-and-a-little-more-doom-and-gloom\/","url_meta":{"origin":546646,"position":4},"title":"THIS EVENING: Day Three at Davos brings a little more optimism, and a little more doom and gloom","author":"enterpriseam admin","date":"18 January 2023","format":false,"excerpt":"Happy almost-THURSDAY, friends. We\u2019re quickly making our way towards the long weekend, with plenty driving the news cycle at home and abroad.STILL DRIVING THE CONVERSATION- It\u2019s Day Three of the World Economic Forum in Davos \u2014 and the global \u201cpolycrisis\u201d remains the big buzzword. Sessions focused on tech, climate, and\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","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\/2023\/1\/690.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":579109,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/this-morning-a-short-slide-into-the-long-weekend\/","url_meta":{"origin":546646,"position":5},"title":"THIS MORNING: A short slide into the long weekend","author":"enterpriseam admin","date":"25 January 2023","format":false,"excerpt":"Good morning, wonderful people, and happy THURSDAY-equivalent. We hope our Egypt-based readers get some well-earned rest on the three-day weekend after what has somehow felt like a very long week. We\u2019re out of office, too: EnterpriseAM and EnterprisePM will not be publishing tomorrow as we observe Police Day \/ Revolution\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","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\/2023\/1\/438.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546646","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=546646"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546646\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/546644"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=546646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=546646"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=546646"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=546646"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=546646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}