{"id":555748,"date":"2021-11-25T04:00:57","date_gmt":"2021-11-25T04:00:57","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/25\/this-morning-east-mediterranean-gas-forum-meeting-in-cairo-today-turkey-uae-sign-huge-investment-pact-merkel-out-scholz-in\/"},"modified":"2021-11-25T04:00:57","modified_gmt":"2021-11-25T04:00:57","slug":"this-morning-east-mediterranean-gas-forum-meeting-in-cairo-today-turkey-uae-sign-huge-investment-pact-merkel-out-scholz-in","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/25\/this-morning-east-mediterranean-gas-forum-meeting-in-cairo-today-turkey-uae-sign-huge-investment-pact-merkel-out-scholz-in\/","title":{"rendered":"THIS MORNING: East Mediterranean Gas Forum meeting in Cairo today; Turkey, UAE sign huge investment pact; Merkel out, Scholz in."},"content":{"rendered":"

Good morning ladies and gents<\/strong>, and welcome to the end of yet another week \u2014 and the final Thursday of November. We only have five left of those this year, if you can believe that.<\/p>\n

Today we bring news of stellar growth figures, an unexpectedly early booster-shot rollout, and one of Egypt\u2019s biggest names jumping on the green hydrogen bandwagon, which looks like it\u2019s going to keep rolling as we count the days to next year\u2019s COP27 summit in Sharm.<\/p>\n

Before that though<\/b>: We wish all our American readers a happy Thanksgiving.<\/strong> The US markets will be closed today for the holiday, and close early tomorrow for Black Friday. Many international schools in Egypt that follow a US curriculum are off for the day, too.<\/p>\n

BIG IN THE REGION-<\/strong><\/p>\n

<\/a> MBZ just bailed out Erdogan:<\/strong> Turkey and the UAE yesterday signed agreements for bns of USD of investments, helping to stabilize the TRY following its historic crash on Tuesday. The Abu Dhabi wealth fund, ADQ, will invest USD 10 bn in strategic areas of Turkey\u2019s economy<\/a> such as food, energy and healthcare, while 10 agreements signed<\/a> will see the two former rivals strengthen energy, technology, environmental and banking ties.<\/p>\n

Tensions have well and truly thawed:<\/strong> The raft of agreements came during Crown Prince Sheikh Mohammed bin Zayed Al Nahyan\u2019s first visit to Turkey in years for talks which Turkish Foreign Minister Mevlut Cavusoglu called \u201cvery constructive.\u201d \"Problems with the UAE are now behind us. We are entering a period based fully on cooperation and mutual benefit,\" one source said. Cavusoglu plans to visit Abu Dhabi for follow-up talks next month.<\/p>\n

The news seems to have satisfied the currency traders \u2014 for now:<\/strong> The TRY recovered some of its losses suffered on Tuesday, rising as much as 7% yesterday. The currency was in freefall earlier this week after Erdogan defended the central bank\u2019s decision to cut interest rates last week in spite of rising inflation and a weakening currency that has now lost as much as 45% of its value against the greenback this year. (Bloomberg<\/a> | Reuters<\/a> | FT<\/a> | Wall Street Journal<\/a> | CNN<\/a>)<\/p>\n

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

Move aside Merkel, Germany has a new chancellor: <\/strong>Social Democrat Olaf Scholz will officially end Angela Merkel\u2019s 16-year stint as the country\u2019s chancellor after the three-party coalition finally reached an agreement to enter government after three months of negotiations. Merkel only has a few weeks at the top of German politics remaining, with Scholz likely to be elected chancellor by parliament early next month after the parties\u2019 members have signed off on the coalition agreement. (BBC<\/a> | Wall Street Journal<\/a> | Bloomberg<\/a> | New York Times<\/a> | Washington Post<\/a> | Reuters<\/a> | AP<\/a>)<\/p>\n

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

East Mediterranean Gas Forum<\/a><\/strong> meeting in Cairo today:<\/strong> Energy ministers of the member countries that make up the East Mediterranean Gas Forum will meet today<\/a> in Cairo. Egypt, Greece, Cyprus, Jordan, Israel, Palestine, Italy and France are all members of the forum, while the EU, US and World Bank have observer status.<\/p>\n

Rameda Pharma\u2019s <\/strong>annual general meeting (pdf)<\/a><\/strong> takes place today<\/strong>, during which the company will decide on the sale of a 5% stake in the company from an individual shareholder to an unnamed institutional investor.<\/p>\n

Startup gathering <\/strong>RiseUp<\/a><\/strong> starts today<\/strong> and runs through Saturday.<\/p>\n

Luxor\u2019s 3000-year-old Avenue of Sphinxes or Rams Road will be unveiled in an opening ceremony this evening<\/strong>, according to the Tourism Ministry<\/a>. The avenue features sphinxes and statues lined up on either side of a 3 km long walkway that connects the Karnak Temple with the Luxor Temple.<\/p>\n

<\/a> COMING SOON- A USD 30 mn SME loan straight from Kuwait: <\/strong>The Arab Fund for Economic and Social Development is lining up a USD 30 mn loan which will be channelled in Egyptian SMEs via a local bank, the cabinet said<\/a> yesterday following a meeting between PM Moustafa Madbouly and officials from the fund. The agreement will apparently soon be signed with the bank, whose identity was not disclosed.<\/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

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

The <\/strong>Cairo International Film Festival<\/a><\/strong> kicks off<\/strong> its weeklong run tomorrow.<\/p>\n

PSA- Calling all college seniors and recent grads:<\/strong> You have until next Monday, 29 November to register<\/a> for a career development training program<\/strong> from the CIT Ministry\u2019s Digital Egypt Youth initiative. The program will be held online in January 2022.<\/p>\n

The new round of Silicon Waha\u2019s Startup Factory will kick off<\/strong> on 10 December at the Assiut Technology Zone. The program will offer marketing tips and tricks for startup founders, who can apply here<\/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","protected":false},"excerpt":{"rendered":"

Good morning ladies and gents, and welcome to the end of yet another week \u2014 and the final Thursday of November. We only have five left of those this year, if you can believe that. Today we bring news of stellar growth figures, an unexpectedly early booster-shot rollout, and one of Egypt\u2019s biggest names jumping […]<\/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":[3055,3262,168,1953,93,72,481,685,91,693,127,449,221,287,218,90,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-555748","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-angela-merkel","tag-arab-fund-for-economic-and-social-development","tag-diplomacy","tag-eastern-mediterranean-gas-forum","tag-energy","tag-enterpriseam","tag-germany","tag-kuwait","tag-oil-and-gas","tag-olaf-scholz","tag-politics","tag-rameda-pharma","tag-recep-tayyip-erdogan","tag-smes","tag-turkey","tag-uae","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"becc9ce3-6354-4e43-abef-fc0770e6346e","order":"0","is_powered_by":true,"story_type":"4","photo_url":"","photo_position":"above","related_issue":[555746],"teaser":"","voice_url":""},"yoast_head":"\nTHIS MORNING: East Mediterranean Gas Forum meeting in Cairo today; Turkey, UAE sign huge investment pact; Merkel out, Scholz in. - 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\/2021\/11\/25\/this-morning-east-mediterranean-gas-forum-meeting-in-cairo-today-turkey-uae-sign-huge-investment-pact-merkel-out-scholz-in\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS MORNING: East Mediterranean Gas Forum meeting in Cairo today; Turkey, UAE sign huge investment pact; Merkel out, Scholz in.\" \/>\n<meta property=\"og:description\" content=\"Good morning ladies and gents, and welcome to the end of yet another week \u2014 and the final Thursday of November. 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The US-brokered agreement is expected to pave the way for both countries to exploit natural gas resources in a previously disputed\u2026","rel":"","context":"In "AROUND THE WORLD"","block_context":{"text":"AROUND THE WORLD","link":"https:\/\/enterpriseam.com\/egypt\/category\/around-the-world\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":641506,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/25\/kurdistan-referendum-to-run-today-merkel-gets-fourth-term\/","url_meta":{"origin":555748,"position":2},"title":"Kurdistan referendum to run today, Merkel gets fourth term","author":"enterpriseam admin","date":"25 September 2017","format":false,"excerpt":"Among the international stories we\u2019re flagging for you this morning:The controversial referendum for Kurdistan\u2019s independence is taking place today, despite pressure from the international community to delay. This one could make things rather messy in the neighborhood, so watch this space.German Chancellor Angela Merkel is on for a fourth term\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":568109,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/17\/last-nights-talk-shows-on-17-december-2020\/","url_meta":{"origin":555748,"position":3},"title":"Last Night\u2019s Talk Shows on 17 December 2020","author":"enterpriseam admin","date":"17 December 2020","format":false,"excerpt":"There was no single leading story on the airwaves last night besides the wall-to-wall coverage on Egypt\u2019s fast-approaching vaccination program (on which we have chapter and verse in What We\u2019re Tracking Today, above).The UAE\u2019s inclusion in the East Med Gas Forum as an observer will help push further research on\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":597344,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/24\/what-were-tracking-on-24-july-2019\/","url_meta":{"origin":555748,"position":4},"title":"What we\u2019re tracking on 24 July 2019","author":"enterpriseam admin","date":"24 July 2019","format":false,"excerpt":"Good morning, folks, and welcome back to the second half of our shortened work week. We should find out today whether the IMF\u2019s executive board will sign off on disbursing the final USD 2 bn tranche of our USD 12 bn loan. Egypt reached a staff-level agreement with the IMF\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":[]},{"id":577017,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/07\/this-morning-the-cop27-leaders-summit-starts-today-meta-is-preparing-a-job-cull-of-epic-proportions\/","url_meta":{"origin":555748,"position":5},"title":"THIS MORNING: The COP27 leaders\u2019 summit starts today + Meta is preparing a job cull of epic proportions","author":"enterpriseam admin","date":"7 November 2022","format":false,"excerpt":"Good morning, friends, and welcome to day two of COP27 in Sharm El Sheikh. The UN climate change summit is not the big story globally this morning \u2014 it\u2019s largely been edged off the front pages by the US midterm elections (voters head to the polls tomorrow), the prospect of\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\/555748","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=555748"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/555748\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/555746"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=555748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=555748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=555748"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=555748"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=555748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}