{"id":577440,"date":"2022-11-23T04:00:47","date_gmt":"2022-11-23T04:00:47","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/23\/this-morning-the-egyptian-mercantile-exchange-fka-egycomex-launches-next-week\/"},"modified":"2022-11-23T04:00:47","modified_gmt":"2022-11-23T04:00:47","slug":"this-morning-the-egyptian-mercantile-exchange-fka-egycomex-launches-next-week","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/23\/this-morning-the-egyptian-mercantile-exchange-fka-egycomex-launches-next-week\/","title":{"rendered":"THIS MORNING: The Egyptian Mercantile Exchange (FKA Egycomex) launches next week"},"content":{"rendered":"

Good morning, friends, and congratulations once again to all our friends and family in <\/strong>Saudi <\/strong>after the Green Falcons\u2019 stunning upset of Argentina at the World Cup yesterday. Unlike us here in Egypt, folks in KSA get too few official days off, so we hope all of you over there are enjoying your impromptu national holiday. (More on the game below.)<\/p>\n

(And no, Resident 15 Year Old, being one-quarter Saudi doesn\u2019t give you the right to claim the holiday given you live and go to school in Cairo\u2026)<\/p>\n

It\u2019s a pleasantly quiet morning on the news from<\/strong>, with the big stories of the day including Hisham Ezz Al Arab\u2019s return to CIB as a non-executive board member. Meanwhile, the meltdown on Planet Startup continues as Swvl has reportedly fired a large number of staff. That meltdown isn\u2019t stopping some folks from deploying capital, particularly if they\u2019re backed by DFIs or other international agencies. The latest is Modus Capital, which has launched a venture builder with backing from USAID.<\/p>\n

WATCH THIS SPACE #1- The IMF executive board\u2019s public calendar now shows its first <\/strong>scheduled meetings for early December<\/strong>, and we\u2019re not yet on the list. The board will meet next month to sign off on our USD 3 bn package<\/a> after we reached a staff-level agreement in October. The cabinet economic group met yesterday to discuss unspecified issues related to the facility, spokesman Nader Saad said in a statement<\/a> that also emphasized ministers were keeping a watchful eye on the nation\u2019s FX position. Short-term priorities include promoting tourism in general and medical tourism in particular, the statement suggested.<\/p>\n

PSA- The calm before the hammer comes down:<\/strong> The 24 companies that have failed to file their 3Q financial statements on time will have until 7 December to get them in, the EGX said in a notice (pdf)<\/a> out yesterday.<\/p>\n

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

<\/a> The <\/strong>Enterprise Climate X Forum<\/a><\/strong> is fast approaching, <\/strong>and we\u2019re incredibly excited to meet with some of you in Cairo at the Grand Egyptian Museum<\/strong> on Tuesday, 6 December 2022. We get underway with a networking breakfast at 8am CLT.<\/p>\n

What\u2019s on the table?<\/strong> CEOs, execs, bankers and development finance folks will mull over a variety of topics, including:<\/p>\n