{"id":580070,"date":"2022-12-05T13:22:20","date_gmt":"2022-12-05T13:22:20","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/05\/one-sleep-until-the-enterprise-climatex-forum\/"},"modified":"2022-12-05T13:22:20","modified_gmt":"2022-12-05T13:22:20","slug":"one-sleep-until-the-enterprise-climatex-forum","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/05\/one-sleep-until-the-enterprise-climatex-forum\/","title":{"rendered":"One sleep until the Enterprise ClimateX Forum"},"content":{"rendered":"

Good afternoon, wonderful people. <\/strong>It\u2019s shaping up to be a brisk news day, giving us plenty to sink our teeth into this afternoon.<\/p>\n

<\/a> We\u2019re looking forward to meeting many of you tomorrow at 8am at the Grand Egyptian Museum <\/strong>for our inaugural Enterprise Climate X Forum<\/a>.<\/p>\n

If you\u2019re attending: Please plan to arrive on time<\/strong> for our 8am standing networking breakfast. Traffic in the area surrounding the GEM has been heavy of late, so you will likely want to leave a few minutes early.<\/p>\n

** You will need a special QR code <\/strong>to gain admission to the GEM. Everyone who received and completed our online registration form got their QR code by email yesterday. If you registered online and did not receive a QR code, please reach out to us today.<\/p>\n

We regret that overwhelming demand from the community meant we could not welcome everyone <\/strong>who expressed interest in attending.<\/p>\n

STAY TUNED- <\/strong>The Enterprise Climate X Forum is our first large-scale event, but it\u2019s not our last. We look forward to welcoming many more of you at our slate of Enterprise X Forums coming up in 2023.<\/p>\n

THE BIG STORY TODAY-<\/strong><\/p>\n

<\/a> Private sector activity takes a hit following EGP devaluation: <\/strong>Activity in Egypt\u2019s non-oil private sector fell at the sharpest pace in two and a half years in November on the back of October\u2019s devaluation<\/a>, according to S&P Global\u2019s purchasing managers\u2019 index (pdf)<\/a>. The index dropped to 45.4 from 47.7 the month before<\/a>, falling further below the 50.0 threshold that separates growth from contraction. It has now been two years since the PMI last recorded growth.<\/p>\n

One step closer to a state IPO: <\/strong>The EGX\u2019s listing committee has signed off on the temporary listing of state-owned Port Said Container & Cargo Handling Company<\/a> ahead of its planned IPO, the bourse said in a statement (pdf).<\/a> The Holding Company for Maritime Transport subsidiary will list over 32.8 mn shares on the bourse, the statement said, without disclosing the exact stake size it will offer. The company will have six months from the day its shares are temporarily listed to complete regulatory procedures for its IPO, under recent changes<\/a> to listing procedures. Local media has reported that the company is looking to go public via a 25% stake sale<\/a> in 1Q 2023.<\/p>\n

THE BIG STORY ABROAD-<\/strong><\/p>\n

There\u2019s no one story dominating the conversation in the international press this <\/strong>afternoon. <\/strong>Reuters<\/a>, the AP<\/a>, and the Financial Times<\/a> are concentrating on the latest developments in Ukraine and the energy markets as Western restrictions on Russian crude imports take effect. In the business press, the Wall Street Journal<\/a> is reading the tea leaves on whether the US Federal Reserve could keep interest rates elevated for longer than expected.<\/p>\n

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

It\u2019s the opening day of <\/strong>Food Africa 2022<\/a><\/strong> at the Egypt International Exhibitions Center.<\/strong> More than 440 exhibitors from 28 countries are at the food expo, which runs through to Wednesday.<\/p>\n

On the House agenda today:<\/strong> The remaining articles of the Competition Act are set to be discussed and passed by the House of Representatives today, with a final vote expected tomorrow. The House General Assembly is also discussing three oil exploration agreements in the Western Desert. Meanwhile, Financial Regulatory Authority Chairman Mohamed Farid is appearing before the House Economic Affairs Committee to discuss the legislative impact of amendments to the Fintech Act and the Capital Market Law.<\/p>\n

** CATCH UP QUICK <\/strong>on the top stories from today\u2019s EnterpriseAM:<\/strong><\/p>\n