{"id":577635,"date":"2022-11-30T04:10:07","date_gmt":"2022-11-30T04:10:07","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/30\/this-morning-could-ryanair-land-in-egypt\/"},"modified":"2022-11-30T04:10:07","modified_gmt":"2022-11-30T04:10:07","slug":"this-morning-could-ryanair-land-in-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/30\/this-morning-could-ryanair-land-in-egypt\/","title":{"rendered":"THIS MORNING: Could Ryanair land in Egypt?"},"content":{"rendered":"

Good morning, wonderful people \u2014 and happy last day of November. <\/strong>There are now 31 days left in 2022.<\/p>\n

We have a packed issue for you this morning<\/strong>, including the latest in CEO poll of top executives on why we need to focus on FDI and exports, word that BMW has appointed a new agent in Egypt, the formal end to the CBE\u2019s subsidized loans program, and more.<\/p>\n

WATCH THIS SPACE- Could Ryanair be landing in Egypt? <\/strong>The Irish budget airline is in talks to launch flights to Egypt and Libya, Reuters<\/a> reports, citing statements by CEO Michael O\u2019Leary during an event. \u201cWe\u2019re talking to the Egyptians, the Libyans,\u201d O\u2019Leary said, without providing further details. Europe\u2019s largest airline by passenger numbers currently only operates flights outside of Europe to and from Morocco, Israel and Jordan.<\/p>\n

More flights is exactly what we need right now: <\/strong>Making it easier to visit Egypt (and improving our offering) is an immediate way to boost our nation\u2019s FX receipts, Somabay CEO Ibrahim El Missiri told Enterprise as part of our CEO poll<\/a> on FDI and exports. Speaking of which\u2026<\/p>\n

DATA POINT-<\/strong> Nearly 30k Egyptian expats have registered on the government\u2019s <\/strong>app<\/strong>to import cars<\/a><\/strong>since it launched on 15 November, Finance Minister Mohamed Maait told Al Arabiya TV in an interview (watch, runtime: 4:16<\/a>), describing it as a \u201cgood turnout.\u201d Customs Authority boss El Shahat El Ghatwary put the figure at 21.6k t the start of this week. The government is trying to draw foreign currency into Egypt through the scheme, which allows expats to import cars using foreign currency in exchange for a full rebate on taxes and dues. It will close on 15 March, 2023.<\/p>\n

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

The Industrial Development Authority (IDA) will open tenders on vacant units in <\/strong>seven of its industrial complexes today<\/strong>, according to astatement<\/a>. Bidders can take out the tender conditions booklet for the units from the IDA\u2019s headquarters or its bureaus at the complexes. Bidding will remain open until all the units have been allocated.<\/p>\n

FURTHER AFIELD- The US Fed could drop some hints today. <\/strong>Traders will be paying close attention to a speech US Federal Reserve head Jerome Powell is set to give today, Reuters<\/a> reports. Powell is expected to make some indication as to where the Fed\u2019s head is at in terms of its tightening cycle, amid speculation that the central bank could soon start slowing interest rate hikes as inflation slows and recession threats ramp up.<\/p>\n

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

Amr Allam, co-CEO of Hassan Allam Holding is joining us for the <\/strong>Enterprise Climate X<\/a><\/strong>Forum<\/a><\/strong>, taking place at the Grand Egyptian Museum. Are you?<\/strong> We\u2019re proud to announce that our friend Amr Allam is going to be speaking at the forum on why he thinks climate is the most compelling industry of our generation. He is joined on stage for that discussion by Mohamed Ismail Mansour<\/strong>, co-founder and CEO of Infinity (Amr and Mohamed are working on a ton of projects together) and Sherif El Kholy<\/strong>, partner and head of MENA at Actis (a long time investor in climate themes).<\/p>\n

They\u2019re not the only ones:<\/strong> Among the top execs, bankers, and development finance folks speaking at the conference are: Todd Wilcox<\/strong>, CEO and deputy chairman of HSBC Egypt; Tarek El Nahas<\/strong>, group head of international banking, Mashreq; Khalid Hamza,<\/strong> director and head of Egypt at European Bank for Reconstruction and Development (EBRD); Simon Kitchen<\/strong>, head of strategy at EFG Hermes Research; Nader Abushadi<\/strong>, group treasurer at Dar Group; Karim Hussein<\/strong>, managing partner at Algebra Ventures; Aly El Tayeb<\/strong>, CEO and co-founder of ShiftEV; Jorgo Chatzimarkakis,<\/strong> CEO of Hydrogen Europe; Khaled Naguib<\/strong>, CEO of Hydrogen Egypt, and Leslie Reed<\/strong>, Mission director for Egypt, USAID.<\/p>\n

Topics and live interviews will include:<\/strong><\/p>\n