{"id":551098,"date":"2022-05-25T13:45:19","date_gmt":"2022-05-25T13:45:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/this-evening-egypts-gdp-growth-slows-in-3q-texas-mass-shooting-prompts-renewed-gun-law-reform-push\/"},"modified":"2022-05-25T13:45:19","modified_gmt":"2022-05-25T13:45:19","slug":"this-evening-egypts-gdp-growth-slows-in-3q-texas-mass-shooting-prompts-renewed-gun-law-reform-push","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/this-evening-egypts-gdp-growth-slows-in-3q-texas-mass-shooting-prompts-renewed-gun-law-reform-push\/","title":{"rendered":"THIS EVENING: Egypt\u2019s GDP growth slows in 3Q + Texas mass shooting prompts renewed gun law reform push"},"content":{"rendered":"<p><strong>Good afternoon, wonderful people<\/strong>, and welcome to what we affectionately call almost-THURSDAY. The weekend is almost upon us \u2014 but it\u2019s a mad rush to the finish line.<\/p>\n<p><strong>THE BIG STORY TODAY<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Egypt\u2019s economy grew at a 5.4% clip in 3Q2021-2022 <\/strong>\u2014 its slowest pace yet this fiscal year, as fallout from the war in Ukraine begins to reflect on the economy, according to a cabinet <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/411212837715809\">statement<\/a>. 9M figures show the economy growing 7.8%, bolstered by a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4d62e3f0-9d66-4bf5-8447-110e1540903c\">solid 1H<\/a>, which saw 9% growth. The government has now upped its growth forecast for the fiscal year to 6.2%, after having <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7206091d-85f9-42f4-9092-59a11e3ea203\">trimmed<\/a> it in March to 5.7% from 6.4% due to the economic impact of the war in Ukraine.<\/p>\n<p><strong>^^We\u2019ll have more<\/strong> on this story and others in tomorrow\u2019s edition of <strong>EnterpriseAM<\/strong>.<\/p>\n<p><strong>THE BIG STORY ABROAD<\/strong><\/p>\n<p><strong>Yesterday\u2019s mass shooting in a Texas elementary school is still topping headlines<\/strong> across much of the international press this afternoon.The <a href=\"https:\/\/www.wsj.com\/articles\/texas-school-shooting-victims-were-killed-in-one-classroom-11653484041?mod=hp_lead_pos1\">Wall Street Journal<\/a> is reporting further details on the incident as they have emerged, while <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/deadliest-us-school-killing-nearly-decade-prompts-biden-call-action-2022-05-25\/\">Reuters<\/a> takes note of US President Joe Biden\u2019s renewed push to tighten gun laws in the country.<\/p>\n<hr class=\"grey-line\">\n<p><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM<\/strong>:<\/p>\n<ul>\n<li><strong>Some foreign car manufacturers <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3242bc1d-f416-47a6-a914-3ce472eb1c9f\">have suspended sales<\/a><\/strong><strong> to Egypt<\/strong> after a change to how imports are paid for has left local dealers unable to purchase vehicles, industry sources say.<\/li>\n<li><strong>Egypt <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/532345ba-efbd-4843-ad86-99ca11b4000a\">hopes to finalize<\/a><\/strong><strong> a fresh assistance program with the IMF \u201cwithin two months,\u201d <\/strong>Prime Minister Moustafa Madbouly told lawmakers yesterday in an address focusing on the government\u2019s response to what he said was the worst global crisis since the Second World War.<\/li>\n<li><strong>Four miners <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a252ca57-a24f-4d0f-af8e-d794ead34107\">have landed<\/a><\/strong><strong> licenses to explore for gold in the Eastern Desert in the Madbouly government\u2019s latest tender<\/strong>, including <a href=\"http:\/\/ankhresources.com\/\">Ankh Resources<\/a>, Sawiris-backed <a href=\"https:\/\/akhgold.com\/\">Akh Gold<\/a>, Canadian miner <a href=\"http:\/\/lotusgold.ca\/\">Lotus Gold<\/a>, and Marine Logistic.<\/li>\n<\/ul>\n<hr class=\"grey-line\">\n<p><strong>LISTEN TO OUR PODCAST ON WHAT AI CAN MEAN FOR YOUR BUSINESS.<\/strong> Last month, we explored how the government has made artificial intelligence a national priority. We spoke with the former ICT Ministry\u2019s advisor for AI Sally Radwan about the government\u2019s national AI strategy and how it is being implemented (<a href=\"https:\/\/enterprise.press\/whatsnexts\/govt-plans-grow-ai-sector\/\">Part 1<\/a> | <a href=\"https:\/\/enterprise.press\/whatsnexts\/govt-plans-grow-ai-sector-sitdown-comms-ministry-ai-advisor-sally-radwan\/\">Part 2<\/a>).<\/p>\n<p><strong>In another of our podcast roundtables, we sat down with the companies building AI systems in Egypt<\/strong> to get a bird\u2019s eye view on what\u2019s happening in the sector: Who\u2019s adopting it, how they\u2019re going about it, and what challenges they\u2019re facing.<\/p>\n<p><strong>You can catch the episode on our website here<\/strong> (<a href=\"https:\/\/enterprise.press\/podcasts\/whats-next-egypts-ai-sector\/\">listen, runtime: 44:01<\/a>), or tune in via <a href=\"https:\/\/podcasts.apple.com\/eg\/podcast\/the-enterprise-podcast\/id1617987136\">Apple<\/a><a href=\"https:\/\/podcasts.apple.com\/eg\/podcast\/the-enterprise-podcast\/id1617987136\">Podcasts<\/a> | <a href=\"https:\/\/play.anghami.com\/episode\/1052468334\">Anghami<\/a> | <a href=\"https:\/\/podcasts.google.com\/feed\/aHR0cHM6Ly93d3cub21ueWNvbnRlbnQuY29tL2QvcGxheWxpc3QvNWE1NmQ3YzMtZjI4MS00NTU3LThlMzEtYWFjODAxN2NjZjA2LzY4NmNmYTU5LTAwOTMtNDEyMS1hMTRjLWFlNmYwMDk3ZjEyMi81NDI0MGE5Ni04YWY5LTRkZGQtODExNi1hZTZmMDA5OTgxMzYvcG9kY2FzdC5yc3M=\">Google Podcasts<\/a> | <a href=\"https:\/\/open.spotify.com\/show\/1hzX6KVJGkuj4udK2DvD5Y\">Spotify<\/a>). <strong>Or you can read edited excerpts<\/strong> of our conversation <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/49b6b5f3-07df-4316-8c04-43858fd3ce7e\">here<\/a>.<\/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>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>The Madbouly government will hold public consultations on its privatization plans over <\/strong><strong>three months<\/strong>, according to a <a href=\"https:\/\/bit.ly\/3LIZmC2\">cabinet statement<\/a> out yesterday. \u201cWe as a government are ready to hear all opinions and approaches because our objective is the interest of the country and the advancement of the economy,\u201d PM Moustafa Madbouly said at a Cabinet meeting.<\/p>\n<p><strong>We got our first look at its policy document last week: <\/strong>The government intends to fully withdraw from as many as 79 industries over the next three years as part of plans to restructure the economy in favor of the private sector, according to a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0894c99e-e18e-473e-a869-64812c50988b\">draft copy of its state ownership policy document<\/a> obtained by the local press last week. The final version of the document is expected to be published before the end of this month.<\/p>\n<p><strong>The Fin Expo Egypt is kicking off tomorrow<\/strong> and will run until Thursday at the Intercontinental Citystars. The expo will feature over 25 companies exhibiting their fintech products and services with 3k visitors expected.<\/p>\n<p><strong><a href=\"https:\/\/psaworldtour.com\/tournaments\/view\/11747\">El Gouna International Squash Open 2022<\/a><\/strong><strong> will kick off on Friday<\/strong> and run until the following Friday, 3 June. The competition will feature some of Egypt\u2019s top seeds including world #1 Nouran Gohar and world #2 Ali Farag (who just earned the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d6a4ab59-b151-4bba-bc02-43a3f541e47c\">PSA squash championship cup<\/a>). The prize pool for each of the men\u2019s and women\u2019s competitions is USD 180k.<\/p>\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- <\/strong>Expect the mercury to inch up again tomorrow to a high of 36\u00b0C before cooling off to a low of 21\u00b0C in the evening.<\/p>\n<p><strong>***<\/strong><br \/> <strong>WE\u2019RE LOOKING FOR SMART, TALENTED PEOPLE to help us build some very cool new things<\/strong>. Today, we run two daily publications, five weekly industry verticals, and a monthly newsletter designed to make our readers feel just a bit smarter.<\/p>\n<p><strong>We have tons more in the pipeline \u2014 come help us build new publications<\/strong>. We offer the chance to work in a fast-paced newsroom on a broad range of topics and in a variety of formats. Our goal is simple: To create value for our growing community of 200k readers by telling stories that matter.<\/p>\n<p>We\u2019re looking for <strong>editors<\/strong> who want to run publications and teams, editors to help reporters craft stories and talented <strong>reporters<\/strong>. Egyptian and foreign nationals alike are welcome to apply. So are job-switchers: If you\u2019re an equities analyst tired of the rat race, we\u2019re a great place to come work.<\/p>\n<p><strong>Apply directly to jobs@enterprisemea.com and mention Patrick in your subject line.<\/strong><\/p>\n<p><a href=\"https:\/\/enterprise.press\/2022\/04\/28\/come-work-us-hiring-reporters-editors-new-existing-products\/\">Or hit this link for more information.<\/a> It\u2019s worth it \u2014 trust us.<br \/> <strong>***<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon, wonderful people, and welcome to what we affectionately call almost-THURSDAY. The weekend is almost upon us \u2014 but it\u2019s a mad rush to the finish line. THE BIG STORY TODAY Egypt\u2019s economy grew at a 5.4% clip in 3Q2021-2022 \u2014 its slowest pace yet this fiscal year, as fallout from the war in [&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":[7213],"tags":[1305,104,633,348,1027,7128,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-551098","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-tonight","tag-baladna","tag-economy","tag-enterprisepm","tag-gdp","tag-juhayna","tag-ma-watch","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"a224f9ee-8850-41d1-8325-45b7cffce603","order":"0","is_powered_by":true,"story_type":"4","photo_url":"","photo_position":"above","related_issue":[551096],"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 EVENING: Egypt\u2019s GDP growth slows in 3Q + Texas mass shooting prompts renewed gun law reform push - 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\/25\/this-evening-egypts-gdp-growth-slows-in-3q-texas-mass-shooting-prompts-renewed-gun-law-reform-push\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS EVENING: Egypt\u2019s GDP growth slows in 3Q + Texas mass shooting prompts renewed gun law reform push\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, wonderful people, and welcome to what we affectionately call almost-THURSDAY. 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The weekend is almost upon us \u2014 but it\u2019s a mad rush to the finish line. THE BIG STORY TODAY Egypt\u2019s economy grew at a 5.4% clip in 3Q2021-2022 \u2014 its slowest pace yet this fiscal year, as fallout from the war in [&hellip;]","og_url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/this-evening-egypts-gdp-growth-slows-in-3q-texas-mass-shooting-prompts-renewed-gun-law-reform-push\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2022-05-25T13:45:19+00:00","author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/this-evening-egypts-gdp-growth-slows-in-3q-texas-mass-shooting-prompts-renewed-gun-law-reform-push\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/this-evening-egypts-gdp-growth-slows-in-3q-texas-mass-shooting-prompts-renewed-gun-law-reform-push\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"THIS EVENING: Egypt\u2019s GDP growth slows in 3Q + Texas mass shooting prompts renewed gun law reform push","datePublished":"2022-05-25T13:45:19+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/this-evening-egypts-gdp-growth-slows-in-3q-texas-mass-shooting-prompts-renewed-gun-law-reform-push\/"},"wordCount":903,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"keywords":["Baladna","economy","EnterprisePM","GDP","Juhayna","M&amp;A Watch","WHAT WE\u2019RE TRACKING TONIGHT"],"articleSection":["WHAT WE\u2019RE TRACKING TONIGHT"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/this-evening-egypts-gdp-growth-slows-in-3q-texas-mass-shooting-prompts-renewed-gun-law-reform-push\/","url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/this-evening-egypts-gdp-growth-slows-in-3q-texas-mass-shooting-prompts-renewed-gun-law-reform-push\/","name":"THIS EVENING: Egypt\u2019s GDP growth slows in 3Q + Texas mass shooting prompts renewed gun law reform push - 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The bank in January expected growth to come in at 5.5%, but \u201cstronger-than-expected activity for the first half of the fiscal year\u201d saw it hike its forecast in\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/187.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546006,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/20\/imf-upgrades-egypts-gdp-growth-in-2022-despite-a-significant-slowdown-globally\/","url_meta":{"origin":551098,"position":2},"title":"IMF upgrades Egypt\u2019s GDP growth in 2022 despite a \u201csignificant slowdown\u201d globally","author":"enterpriseam admin","date":"20 April 2022","format":false,"excerpt":"The IMF has cut its global GDP forecast for this year and the next as surging inflation and economic fallout from the war in Ukraine hit growth prospects. The Fund revised downwards its growth projections for 2022 and 2023 to 3.6% in its latest World Economic Outlook \u2014 that\u2019s 0.8\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/4\/335.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577604,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/29\/economy-grew-4-4-y-o-y-in-the-first-quarter-of-2022-despite-global-headwinds\/","url_meta":{"origin":551098,"position":3},"title":"Economy grew 4.4% y-o-y in the first quarter of 2022 despite global headwinds","author":"enterpriseam admin","date":"29 November 2022","format":false,"excerpt":"Egypt\u2019s economy grew 4.4% y-o-y in 1Q FY 2022-2023, according to preliminary data from the Planning Ministry. GDP growth in the first quarter of the state\u2019s current fiscal year (which starts in July) came despite continued global headwinds thanks to the pandemic, the war in Ukraine, and climate change, Planning\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/471.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":545711,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/10\/finmin-narrows-deficit-target-for-this-fiscal-year-as-economy-withstands-global-turmoil\/","url_meta":{"origin":551098,"position":4},"title":"FinMin narrows deficit target for this fiscal year as economy withstands global turmoil","author":"enterpriseam admin","date":"10 April 2022","format":false,"excerpt":"The Madbouly government now expects the budget deficit to contract to 6.2% this fiscal year, down from a previous 6.9% target, as the economy absorbs the initial shock of the outbreak of war in Ukraine, Finance Minister Mohamed Maait told a Bank of America delegation, according to a Finance Ministry\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/4\/176.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":576522,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/29\/economy-to-grow-at-2-8-4-clip-next-fiscal-year-maait-says\/","url_meta":{"origin":551098,"position":5},"title":"Economy to grow at 2.8-4% clip next fiscal year, Maait says","author":"enterpriseam admin","date":"29 November 2020","format":false,"excerpt":"Egypt\u2019s economy is expected to grow between 2.8-4% in FY2021-2022, Finance Minister Mohamed Maait told DMC over the weekend (watch, runtime: 8:28). The minister had previously said GDP growth would \u201crecover significantly\u201d at the start of FY2021-2022, but stopped short of giving a figure. The World Bank last month forecast\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/11\/292.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\/551098","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=551098"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/551098\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/551096"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=551098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=551098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=551098"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=551098"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=551098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}