{"id":557910,"date":"2021-09-12T13:52:03","date_gmt":"2021-09-12T13:52:03","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/12\/tonight-fra-is-out-with-new-egx-listing-rules-banque-misr-to-launch-a-gold-fund-also-watch-nine-perfect-strangers-with-some-sushi\/"},"modified":"2021-09-12T13:52:03","modified_gmt":"2021-09-12T13:52:03","slug":"tonight-fra-is-out-with-new-egx-listing-rules-banque-misr-to-launch-a-gold-fund-also-watch-nine-perfect-strangers-with-some-sushi","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/12\/tonight-fra-is-out-with-new-egx-listing-rules-banque-misr-to-launch-a-gold-fund-also-watch-nine-perfect-strangers-with-some-sushi\/","title":{"rendered":"TONIGHT: FRA is out with new EGX listing rules + Banque Misr to launch a gold fund. ALSO: Watch Nine Perfect Strangers with some sushi"},"content":{"rendered":"<p><strong>Good afternoon, ladies and gentlemen,<\/strong> to a week where inflation appears to be leading the chatter in the global business press, while capital markets dominate headlines locally.<\/p>\n<p><strong>THE BIG STORIES TODAY<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>#1- FRA eases minimum required number of shares to list on the EGX: <\/strong>Companies looking to list shares on the EGX must now offer no less than 1% of the EGX\u2019s total freefloat market cap, according to the Financial Regulatory Authority (FRA) new listing <a href=\"https:\/\/ent.news\/2021\/9\/FRA-Statment.pdf\">amendments (pdf)<\/a> that are out today. Under the new regulations, companies should have a freefloat market cap (the number of shares in freefloat multiplied by the share price) of no less than 0.5% of the EGX\u2019s total freefloat market cap.<\/p>\n<p><strong>Is the FRA paving the way for someone? <\/strong>Last we heard, state-owned <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/934250b1-31a3-42a1-939f-4c96bc80d1b7\">e-finance<\/a> is expected to be among the companies to offer stakes as soon as next month. Planning Minister Hala El Said <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/39607e53-7772-4a27-b7f4-584372e9bc9e\">had said last week<\/a> that the state privatization program will resume this year. <sup><\/sup><\/p>\n<p><strong>#2- Banque Misr is planning to launch a fund that will invest in gold<\/strong>, Vice Chairman Akef El Maghraby, told <a href=\"https:\/\/bit.ly\/38Zccea\">Al Shorouk<\/a>.<\/p>\n<p><strong>#3- <\/strong><strong>Ten companies are in the running to purchase the Emirati energy firm Al Nowais\u2019<\/strong> <strong>license to operate a solar plant in Aswan\u2019s Benban<\/strong>, an unnamed official in the renewable energy sector told <a href=\"https:\/\/bit.ly\/3liNZVX\">Al Mal<\/a>.<\/p>\n<p><strong>^^ We\u2019ll have chapter and verse on all three stories in tomorrow\u2019s EnterpriseAM.<\/strong><\/p>\n<p><strong>HAPPENING NOW<\/strong>-<\/p>\n<p><strong>Armed Forces Chief of Staff Mohamed Farid met US Central Command commander Kenneth Mckenzie, who\u2019s here attending the <\/strong><strong>Bright Star 2021 military drills<\/strong> \u2014 Egypt and the US\u2019 annual joint military exercises (<a href=\"https:\/\/www.facebook.com\/EgyArmySpox\/videos\/980181619224617\/\">watch, runtime: 2:33<\/a>).<\/p>\n<p><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s<strong> EnterpriseAM:<\/strong><\/p>\n<ul>\n<li><strong>CBE likely to keep rates on hold:<\/strong>The Central Bank of Egypt will likely leave interest rates unchanged at its meeting this Thursday as it looks to keep inflation in check, according to a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/265b75b2-0602-4c6d-b642-e733855acbb3\">poll<\/a> conducted by Enterprise.<\/li>\n<li><strong>Egypt can withstand a US taper:<\/strong> Egypt should be able to cope if US interest rates rise as the Federal Reserve begins unwinding its covid stimulus programme, Finance Minister Mohamed Maait <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/779807f6-c3ed-480f-a5e4-ce854f5b1e5f\">said<\/a>.<\/li>\n<li><strong>Inflation continues its upward trend in August:<\/strong> Annual urban inflation<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a7ce0952-23a6-4e3a-8296-21071df079fa\">hit its highest level in nine months<\/a> in August on the back of rising food, fuel and transportation costs.<\/li>\n<\/ul>\n<p><strong>THE BIG STORY ABROAD<\/strong><\/p>\n<p><strong>Ei<\/strong><strong>ghteen-year-old breakout star Emma Raducanu <\/strong><strong><a href=\"https:\/\/www.bbc.com\/sport\/tennis\/58533341\">won the US Open<\/a><\/strong><strong> final against <\/strong><strong>fellow teenager Leylah Fernandez in straight sets last night, <\/strong>making her the first British woman to win a Grand Slam championship in 44 years. The sports marketing sharks are already circling: \u201cIf she wins she will become one of the hottest properties in British sport,\u201d one brand consultant told <a href=\"https:\/\/www.theguardian.com\/sport\/2021\/sep\/10\/raducanu-global-media-stardom-marketing-experts-tennis\">the Guardian<\/a> ahead of the match, while others drew comparisons between Raducanu and the sport\u2019s highest-paid female athlete Naomi Osaka, who is worth a reported USD 37.4 mn.<\/p>\n<p><strong>In other global news, Iran will allow the International Atomic Energy <\/strong><strong>Agency (IAEA) to reactivate its cameras at the country\u2019s nuclear facilities<\/strong>, newly appointed head of the country\u2019s Atomic Energy Organization Mohammad Eslami said today after a meeting with IAEA Director General Rafael Grossi in Iran, <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/iaea-chief-iran-talks-before-showdown-with-west-2021-09-12\/\">Reuters<\/a> reports. The move could be aimed at easing tensions with the IAEA, and comes a week before the organization\u2019s board meets to decide whether to issue a resolution on criticizing Iran.<\/p>\n<p><strong>The ever so gracious Taliban will let women study at universities as long as they only enrol in <\/strong><strong>gender-segregated classes \u2014 <\/strong>and abide by Islamic dress of course \u2014 <a href=\"https:\/\/bloom.bg\/3lko4xa\">Bloomberg<\/a> reports. The new policies were announced days after Afghanistan formed its new all-male government.<\/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>FOR TOMORROW- <\/strong><\/p>\n<p><strong>EFG Hermes\u2019 fourth Virtual Investor Conference<\/strong> kicks off tomorrow and runs through to 21 September with the theme of \u201cAfter Reflation \u2014 FEMs in 2022.\u201d<\/p>\n<p><strong>Environment minister at AmCham:<\/strong> Environment Minister Yasmine Fouad will give a speech on strategies for generating green, private sector-led growth at AmCham\u2019s virtual monthly event tomorrow. <a href=\"https:\/\/www.amcham.org.eg\/events-activities\/events\/online-registration\/1385\">Register here<\/a>.<\/p>\n<p><strong>THIS WEEK-<\/strong><\/p>\n<p><strong>Interest rates:<\/strong> The Central Bank of Egypt will meet to review interest rates on Thursday, 16 September.<\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/www.un.org\/en\/ga\/\">UN General Assembly<\/a><\/strong><strong> kicks off later this week,<\/strong> opening on Tuesday 14 September and running through to 30 September.<\/p>\n<p><strong>Israeli PM <\/strong><strong>to visit<\/strong><strong> Cairo this week?<\/strong> <a href=\"https:\/\/www.axios.com\/israel-pm-bennett-rare-public-visit-egypt-498608d1-eb33-4a0c-8b0d-1d83847bd0d9.html\">Axios<\/a>\u2019 Barak Ravid reports that Naftali Bennett will make an official diplomatic visit to Egypt for talks with President Abdel Fattah El Sisi, which would be the first official visit to Egypt by an Israeli leader in more than a decade, and a first for El Sisi. The last Egyptian president to host an Israeli prime minister was Hosni Mubarak, who met Benjamin Netanyahu in <a href=\"https:\/\/mfa.gov.il\/mfa\/pressroom\/2011\/pages\/pm_netanyahu_meets_egyptian_president_mubarak_6-jan-2011.aspx\">January 2011<\/a>.<\/p>\n<p><strong>The rumored visit comes amid <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e5919e87-4dc7-476b-b6fe-dfee6aeb4f6a\">reports<\/a><\/strong><strong> that Egypt is preparing a new roadmap to restart Israel-Palestine peace talks<\/strong>, while cordial bilateral relations have recently been on public display. The Egyptian president <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/377675bd-85de-4e19-9705-84668f9baeb7\">in August<\/a> extended the invitation to Bennett to visit, before calling Israeli President Isaac Herzog to wish him a happy Rosh Hashanah last week.<\/p>\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- <\/strong>After the brief breeze over the weekend, the temperature will rise again tomorrow to 40\u00b0C in the morning and will drop to 23\u00b0C at night, our favorite weather app tells us.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon, ladies and gentlemen, to a week where inflation appears to be leading the chatter in the global business press, while capital markets dominate headlines locally. THE BIG STORIES TODAY #1- FRA eases minimum required number of shares to list on the EGX: Companies looking to list shares on the EGX must now offer [&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":[318,184,576,102,68,633,76,182,219,435,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-557910","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-tonight","tag-amazon","tag-apple","tag-banque-misr","tag-capital-markets","tag-egx","tag-enterprisepm","tag-financial-regulatory-authority","tag-inflation","tag-saudi-arabia","tag-taliban","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"fc5118d6-145c-4753-ac12-f828f5aab68a","order":"0","is_powered_by":true,"story_type":"4","photo_url":"","photo_position":"above","related_issue":[557908],"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>TONIGHT: FRA is out with new EGX listing rules + Banque Misr to launch a gold fund. ALSO: Watch Nine Perfect Strangers with some sushi - 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\/09\/12\/tonight-fra-is-out-with-new-egx-listing-rules-banque-misr-to-launch-a-gold-fund-also-watch-nine-perfect-strangers-with-some-sushi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TONIGHT: FRA is out with new EGX listing rules + Banque Misr to launch a gold fund. ALSO: Watch Nine Perfect Strangers with some sushi\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, ladies and gentlemen, to a week where inflation appears to be leading the chatter in the global business press, while capital markets dominate headlines locally. THE BIG STORIES TODAY #1- FRA eases minimum required number of shares to list on the EGX: Companies looking to list shares on the EGX must now offer [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/12\/tonight-fra-is-out-with-new-egx-listing-rules-banque-misr-to-launch-a-gold-fund-also-watch-nine-perfect-strangers-with-some-sushi\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-12T13:52:03+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/12\/tonight-fra-is-out-with-new-egx-listing-rules-banque-misr-to-launch-a-gold-fund-also-watch-nine-perfect-strangers-with-some-sushi\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/12\/tonight-fra-is-out-with-new-egx-listing-rules-banque-misr-to-launch-a-gold-fund-also-watch-nine-perfect-strangers-with-some-sushi\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"TONIGHT: FRA is out with new EGX listing rules + Banque Misr to launch a gold fund. 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