{"id":549159,"date":"2022-09-06T04:00:23","date_gmt":"2022-09-06T04:00:23","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/this-morning-palestinian-president-in-cairo-for-summit-europes-energy-crisis-just-got-taken-up-a-notch\/"},"modified":"2022-09-06T04:00:23","modified_gmt":"2022-09-06T04:00:23","slug":"this-morning-palestinian-president-in-cairo-for-summit-europes-energy-crisis-just-got-taken-up-a-notch","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/this-morning-palestinian-president-in-cairo-for-summit-europes-energy-crisis-just-got-taken-up-a-notch\/","title":{"rendered":"THIS MORNING: Palestinian president in Cairo for summit + Europe\u2019s energy crisis just got taken up a notch"},"content":{"rendered":"

Good morning, everyone, and happy hump day. <\/strong><\/p>\n

THE BIG STORY here at home this morning is that not one, but three, GCC sovereign <\/strong>wealth funds are eyeing TE\u2019s stake in Vodafone Egypt. <\/strong>We also think you should read today\u2019s Going Green feature, which looks at how climate change is impacting small dairy farmers \u2014 the people who account for the majority of the milk our nation produces.<\/p>\n

^^ We have both stories and plenty more below.<\/p>\n

Welcome back, US and Canadian readers. <\/strong>We hope you enjoyed your Labor Day holiday \u2014 and that you\u2019re now settling comfortably into the fall grind. It really is the best season of the year for you folks (all the more so if you live at a latitude that allows you to enjoy fall foliage).<\/p>\n

<\/a> *** You have just<\/strong> three days <\/strong>to tell us how you\u2019re feeling about your business<\/strong> and the wider economy. We\u2019ll have the results for mid-month \u2014 just in time to give you a sense of what everyone else is thinking heading into budget season. Make your voice heard in our Fall Reader Survey.<\/a><\/strong> It won\u2019t take more than a few minutes to complete.<\/p>\n

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

Palestinian President Mahmoud Abbas is in Cairo for an Egyptian-Palestinian summit<\/strong>. The two sides will discuss the situation in Palestine and the possibility of releasing Palestinian prisoners in Israeli custody. Egypt played a key role in brokering last month\u2019s ceasefire following clashes between Israel and Gaza militants.<\/p>\n

HAPPENING THIS WEEK-<\/strong><\/p>\n

We\u2019re expecting some sort of announcement from the government on how it plans to <\/strong>proceed with its privatization program<\/strong>, according to comments given to the media by Finance Minister Mohamed Maait last week. This came on the same day as the Prime Minister Moustafa Madbouy met with the heads of the EGX and the Financial Regulatory Authority to discuss plans to sell stakes in state-owned enterprises on the bourse.<\/p>\n

US climate envoy John Kerry will be in town tomorrow<\/strong> for the Egypt-International<\/a> Cooperation Forum (Egypt-ICF)<\/a>, which runs 7-9 September at Almasa Convention Center in the new administrative capital. The three-day event will bring together global policymakers, ministers, development partners and other participants ahead of COP27 to discuss climate action and green transition, food security, and others with a focus on Africa. Check the full agenda here (pdf)<\/a>.<\/p>\n

Tourism expo starts tomorrow:<\/strong> The four-day Gate Travel Expo 2022<\/a> starts tomorrow at El Qubba Palace.<\/p>\n

Support measures coming for local commercial ships?<\/strong> Transport Minister Kamel El Wazir will hold a meeting this week with the maritime transport sector and private shipping companies to discuss ways to boost the commercial fleet, Al Mal<\/a> reports, citing an unnamed source.<\/p>\n

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

<\/a> Chaos has returned to the European energy markets<\/strong> on the first trading day since Gazprom said it would be indefinitely shuttering the vital Nord Stream gas pipeline. Gas and power prices soared, equities tumbled, and the EUR hit a fresh 20-year low against the greenback as markets freaked out about the escalating energy crisis and its implication for eurozone economies. The move \u2014 the latest round in a tit-for-tat energy war with Russia that came shortly after the G7 agreed to cap Russian oil prices \u2014 has forced Brussels into considering unprecedented measures to curb the crisis, including emergency caps on wholesale prices and hundred-bn EUR bailout packages to prevent utilities companies and household finances from collapsing. (Reuters<\/a> | FT<\/a> | Bloomberg<\/a> | Politico<\/a> | WSJ<\/a>)<\/p>\n

\"enterprise\"<\/p>\n

And in its most escalatory move yet: Moscow slapped sanctions on Zoolander.<\/strong> Ben Stiller and Sean Penn have been permanently banned<\/a> from entering Russia for showing support for Kyiv\u2019s war effort. The White House is yet to comment on how it might respond to the latest escalation.<\/p>\n

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

The German-Arab Chamber of Industry and Commerce will commemorate 70 years<\/strong> of German-Egyptian business and economic ties with a gala celebration<\/a> on 15 September.<\/p>\n

Our monthly list of data points<\/strong> to keep your eye on over the next few days and weeks:<\/p>\n