{"id":546845,"date":"2022-05-31T04:00:27","date_gmt":"2022-05-31T04:00:27","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/this-morning-shoukry-in-sweden-for-climate-talks-bike-sharing-is-coming-to-cairo-in-july\/"},"modified":"2022-05-31T04:00:27","modified_gmt":"2022-05-31T04:00:27","slug":"this-morning-shoukry-in-sweden-for-climate-talks-bike-sharing-is-coming-to-cairo-in-july","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/this-morning-shoukry-in-sweden-for-climate-talks-bike-sharing-is-coming-to-cairo-in-july\/","title":{"rendered":"THIS MORNING: Shoukry in Sweden for climate talks; Bike-sharing is coming to Cairo in July"},"content":{"rendered":"

Good morning, wonderful people, and welcome to the last business day of May. <\/strong>It\u2019s another busy news day, with the National Bank of Egypt and Banque Misr\u2019s decision to take their 18% CDs<\/strong> off the market leading this morning\u2019s headlines. Denizens of Planet Startup will also want to take note of Swvl\u2019s decision to slash its headcount by a third<\/strong> in a bid to cut operating costs and hit break-even in cashflow terms.<\/p>\n

SOUND SMART- Whether or not you understand it right now, you need to know about <\/strong>green hydrogen<\/strong>, which many around the world are touting as the fuel of tomorrow. So far this year, international investors have inked early agreements to build green hydrogen plants worth at least USD 10 bn here in Egypt. Going Green, our weekly deep dive into the green economy, unpacks what green hydrogen is all about, who\u2019s building what, where the money may be coming from, and what signposts to look for that will suggest it is all real.<\/p>\n

ALSO- Cze\u015b\u0107 and dzie\u0144 dobry to our Polish readers this morning. <\/strong>You folks are the stars of the diplomatic show this morning after President Andrzej Duda\u2019s visit to Cairo yesterday for talks with President Abdel Fattah El Sisi and other senior government officials. From the resumption of direct flights to talks about investment and food security as well as the launch of a new business council, there was a lot <\/em>of news.<\/p>\n

PSA #1- It\u2019s the last day for EGX-listed companies to file their earnings for 1Q2022<\/strong>, after the Financial Regulatory Authority granted listed companies<\/a> a two-week deadline extension.<\/p>\n

PSA #2- Today is also the <\/strong>application deadline<\/a><\/strong> for ITIDA\u2019s annual Export IT program.<\/strong> The program is designed to encourage local IT companies to boost exports while reducing related costs.<\/p>\n

WE LOVE THIS- Now, let\u2019s not collectively [redact] it up: Cairo is finally getting a <\/strong>bike-sharing program.<\/strong> Cairo Bike will make its debut on the streets of Cairo in mid-July, according to a statement<\/a> shared by the biking community Go Bike. The project, backed by UN-Habitat and Swiss nonprofit the Drosos Foundation, will launch with 250 bikes across 26 stations scattered around downtown Cairo, Zamalek and Garden City. The number of bikes will double to 500 in mid-September when another 19 stations go live. The program will charge bikers EGP 1\/hour and will be accessible through its designated app. Formerly known as Bicicletta<\/a>, the project has been years in the making and was originally slated for a March launch.<\/p>\n

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

Shoukry is back on COP duty:<\/strong> Foreign Minister and COP27 President Sameh Shoukry is in Sweden today to attend UN climate talks in preparation for this year\u2019s COP summit in Sharm El Sheikh, the Foreign Ministry said in a statement<\/a>.<\/p>\n

Operation Free Ukrainian Wheat:<\/strong> The EU is holding talks today to discuss how to get mns of tons of wheat out of the country and evade Russia\u2019s blockade on the world\u2019s breadbasket, according to the Financial Times<\/a>. We have more on this in this morning\u2019s Commodities section, below.<\/p>\n

El Gouna International Squash Open 2022<\/a><\/strong> continues today and wraps o<\/strong>n Friday.<\/strong> The competition features some of Egypt\u2019s top seeds including world #1 Nouran Gohar and world #2 Ali Farag (who just took home the PSA squash championship cup<\/a>). The prize pool for each of the men\u2019s and women\u2019s competitions is USD 180k.<\/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

Subscribe here<\/a>\n <\/div>\n<\/p><\/div>\n<\/div>\n

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

EU agrees ban on Russian oil:<\/strong> EU leaders have agreed to ban most imports of Russian oil by the end of the year, breaking weeks of deadlock with Hungary, which had refused to sign on to the embargo. The sanctions will immediately cut off 60% of the bloc\u2019s imports, which are delivered via sea, and will increase to 90% by the end of the year when Germany and Poland stop buying oil via the Druzhba pipeline. The move will allow the EU to impose sanctions on Russia\u2019s biggest bank, Sberbank, diplomats said.<\/p>\n

The news sent oil prices up during trading in Asia today<\/strong>, with US crude rising 2% and Brent futures edging up 0.6% to a bit over USD 122 per barrel<\/a>.<\/p>\n

The news is everywhere on the global front pages this morning:<\/strong> Reuters<\/a> | AP<\/a> | Bloomberg<\/a> | WSJ<\/a> | FT<\/a> | NYT<\/a> | Washington Post<\/a>.<\/p>\n

Meanwhile: Russia just cut the gas to another European country.<\/strong> Gazprom will today stop shipping gas to the Netherlands after Dutch gas trader GasTerra rejected Moscow\u2019s demand to pay in RUB, Reuters<\/a> reports. The company said that complying with the Russian mechanism risked violating EU sanctions and posed financial and operational risks. Gas accounts for 44% of the country\u2019s energy mix, but it only imports 15% of this from Russia. The Netherlands is the third country to have its gas cut by Gazprom after Poland and Bulgaria last month.<\/p>\n

Denmark is also expected to take a hit:<\/strong> Its biggest gas supplier \u00d8rsted yesterday warned of a \u201crisk\u201d that Gazprom would shut off supplies because of the Danish firm\u2019s decision to continue payments in EUR ahead of its end of month payment deadline, the Financial Times<\/a> reports.<\/p>\n

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

The Islamic Development Bank\u2019s <\/strong>2022 annual meetings<\/a><\/strong> kick off tomorrow and wrap this Saturday, 4 June in Sharm El Sheikh. Enterprise will be attending<\/strong> the annual meetings and bringing you updates from there.<\/p>\n

The Islamic Corporation for the Ins. of Investment and Export Credit<\/strong> will hold two high-level<\/a>parallel meetings<\/a> on climate action and digital transformation<\/strong> during IsDB\u2019s annual meetings.<\/p>\n

The Greek Campus is holding a workshop tomorrow headlined \u201c<\/strong>Transitioning to<\/a><\/strong>e-mobility<\/a><\/strong>\u201d <\/strong>that will look at the electric vehicle industry in Egypt (and worldwide). The workshop will run from 6-9pm and will be led by Ayman Mohamed and Ahmed El Hosseny, co-founders of local EV marketplace Electrified<\/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 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>Global interest in green hydrogen production has been gathering steam over the last year \u2014 and nowhere more so than in Egypt, where the government has begun making moves to capitalize on the investment momentum ahead of COP27 by establishing the Suez Canal Economic Zone (SCZone) as a regional green energy hub. In a new two-part series, we look at Egypt\u2019s nascent green hydrogen industry and how policymakers can capitalize on the global trend.<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, wonderful people, and welcome to the last business day of May. It\u2019s another busy news day, with the National Bank of Egypt and Banque Misr\u2019s decision to take their 18% CDs off the market leading this morning\u2019s headlines. Denizens of Planet Startup will also want to take note of Swvl\u2019s decision to slash […]<\/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":[1977,7286,228,72,301,207,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-546845","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-cairo-bike","tag-climate","tag-cop27","tag-enterpriseam","tag-sameh-shoukry","tag-transport","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"2bba3fbb-ced2-4d4c-b456-b7b8c8179395","order":"0","is_powered_by":true,"story_type":"4","photo_url":"","photo_position":"above","related_issue":[546843],"teaser":"","voice_url":""},"yoast_head":"\nTHIS MORNING: Shoukry in Sweden for climate talks; Bike-sharing is coming to Cairo in July - 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\/31\/this-morning-shoukry-in-sweden-for-climate-talks-bike-sharing-is-coming-to-cairo-in-july\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS MORNING: Shoukry in Sweden for climate talks; Bike-sharing is coming to Cairo in July\" \/>\n<meta property=\"og:description\" content=\"Good morning, wonderful people, and welcome to the last business day of May. 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PLUS: More Gulf real estate investment on the horizon?","author":"enterpriseam admin","date":"8 August 2023","format":false,"excerpt":"The news cycle is picking up slightly as we slide into the midweek","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\/2023\/8\/359.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":582143,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/02\/this-morning-shoukry-in-india-for-g-20-foreign-ministers-meeting\/","url_meta":{"origin":546845,"position":1},"title":"THIS MORNING: Shoukry in India for G-20 foreign ministers meeting","author":"enterpriseam admin","date":"2 March 2023","format":false,"excerpt":"Good morning, friends, and welcome to a super-brisk news morning. We hope you\u2019re looking forward to the weekend as much as we are. WATCH THIS SPACE #1- Progress (of sorts) on the green hydrogen strategy: The Electricity Ministry has received the near-final draft of the national hydrogen strategy and 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\/2021\/10\/newspaper-reading-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":595568,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/09\/another-green-hydrogen-plant-in-the-works\/","url_meta":{"origin":546845,"position":2},"title":"Another green hydrogen plant in the works?","author":"enterpriseam admin","date":"9 August 2023","format":false,"excerpt":"An unnamed foreign firm wants to produce green hydrogen here for export to Europe","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\/2023\/8\/432.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":545750,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/11\/eu-egypt-talk-boosting-our-lng-exports-green-hydrogen-ahead-of-cop27\/","url_meta":{"origin":546845,"position":3},"title":"EU + Egypt talk boosting our LNG exports + green hydrogen ahead of COP27","author":"enterpriseam admin","date":"11 April 2022","format":false,"excerpt":"Energy tops the agenda in top EU official\u2019s visit: The EU is looking to up its imports of liquefied natural gas (LNG) from Egypt in the short term \u2014 and contribute to building a local green hydrogen production facility in the long term, EU Executive Vice-President Frans Timmermans told Prime\u2026","rel":"","context":"In "Diplomacy"","block_context":{"text":"Diplomacy","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/diplomacy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/4\/195.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":579581,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/08\/this-evening-a-new-10-gw-wind-farm-scatec-oc-fertiglobe-launch-100-mw-green-hydrogen-plant-at-cop\/","url_meta":{"origin":546845,"position":4},"title":"THIS EVENING: A new 10 GW wind farm + Scatec, OC, Fertiglobe launch 100 MW green hydrogen plant at COP","author":"enterpriseam admin","date":"8 November 2022","format":false,"excerpt":"Good afternoon, wonderful people. It\u2019s hump day, and with COP27 well in the swing of things, it is most definitely a news dump day. THE BIG STORY TODAY There\u2019s a whole lot of renewable and green energy news coming out of COP27: Another 10 GW wind farm: The UAE\u2019s Masdar,\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":577236,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/15\/this-morning-four-days-to-find-an-agreement\/","url_meta":{"origin":546845,"position":5},"title":"THIS MORNING: Four days to find an agreement","author":"enterpriseam admin","date":"15 November 2022","format":false,"excerpt":"Good morning, friends, and happy hump day. There are just four days left of COP27 and it\u2019s looking tense in Sharm as negotiators look for a way to reach an agreement that will cut emissions and mobilize tons of capital for climate finance. COP27 President Sameh Shoukry reiterated yesterday his\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546845","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=546845"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546845\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/546843"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=546845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=546845"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=546845"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=546845"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=546845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}