{"id":581809,"date":"2023-02-26T00:00:00","date_gmt":"2023-02-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/26\/this-morning-whats-it-going-to-take-to-unlock-gulf-investments-in-egypt\/"},"modified":"2023-02-26T00:00:00","modified_gmt":"2023-02-26T00:00:00","slug":"this-morning-whats-it-going-to-take-to-unlock-gulf-investments-in-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/26\/this-morning-whats-it-going-to-take-to-unlock-gulf-investments-in-egypt\/","title":{"rendered":"THIS MORNING: What\u2019s it going to take to unlock Gulf investments in Egypt?"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Good morning, friends, and welcome to what is shaping up to be a very busy week for news. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The question of the week: <span id='wwtt1'>Will we see Riyadh, Abu Dhabi and Doha start to pull the trigger on their long-awaited investments in Egypt?<\/span><\/span><span> <\/span><span style=\"\">That\u2019s the  \u201ctop of mind\u201d question on Egypt this morning in the global business press. <\/span><span>The three Gulf countries pledged bns worth of investments in Egypt last <\/span><span style=\"\">year<\/span><span style=\"font-weight:400;\"> \u2014 but we\u2019ve seen comparatively little in the way of fresh capital since Gulf sovereign funds snapped up stakes in publicly traded stocks including CIB and e-Finance, among others. With a USD 3 bn IMF program signed and a credible reboot of the privatization program now in the wild, what is it going to take for the GCC countries to sign on the dotted line? <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Media reports suggest talks have slowed on stake sizes and valuation. <\/span><span style=\"\">Qatar\u2019s sovereign <\/span><span>wealth fund wants reportedly larger stakes in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/08\/el-said-calls-on-qataris-to-invest-adq-said-to-be-mounting-rival-bid-to-qias-vodafone-egypt-acquisition-95853\/\" style=\"\">Vodafone Egypt<\/a><\/span><span> and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/31\/investment-banks-eye-terminal-operator-ipos-and-qatars-swf-is-looking-for-a-strategic-stake-94977\/\" style=\"\">two container operators<\/a><\/span><span> than are on offer. And two stories out last week suggested that the sale of state-owned <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/23\/valuation-dispute-puts-saudi-united-bank-acquisition-at-risk-97677\/\" style=\"\">United Bank<\/a><\/span><span> to Saudi\u2019s Public Investment Fund <\/span><span>has slowed on differences over valuation. <\/span><span style=\"font-weight:400;\">Bloomberg and Reuters have both reported the issue is whether the valuation will be fixed in USD pre-execution, or done in EGP and paid for in USD when the cash is due. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">But some private investors are growing growing comfortable with the value of the EGP: <\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">Saudi Arabia\u2019s Almarai last week <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/23\/almarai-now-owns-100-of-beyti-97678\/\" style=\"\">bought out PepsiCo\u2019s stake<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/23\/almarai-now-owns-100-of-beyti-97678\/\" style=\"\">in dairy and juice producer Beyti<\/a><\/span><span style=\"font-weight:400;\"> and reportedly plans to use its base here to export;<\/span><\/li>\n<li><span style=\"font-weight:700\">Italy\u2019s Intesa Sanpaolo is said to be about to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/21\/italys-intesa-sanpaolo-in-talks-with-govt-to-acquire-the-rest-of-alexbank-97499\/\" style=\"\">snap up the 20% of Alexbank<\/a><\/span><span style=\"font-weight:700\"> <\/span><span style=\"font-weight:400;\">that it doesn\u2019t already own;<\/span><\/li>\n<li><span style=\"font-weight:700\">EK Holding will invest USD 170 mn in Egypt this year<\/span><span style=\"\">, as we note below in this morning\u2019s news well. EKH\u2019s investment will take the form of both capex spending and the buying out of minority shareholders in some of its subsidiaries;<\/span><\/li>\n<li><span style=\"font-weight:700\">USD 145 mn in auto investments from global majors: <\/span><span>Stellantis and Nissan, alongside local GM partner Almansour, have said they will <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/23\/stellantis-nissan-and-mansour-could-invest-usd-145-mn-in-local-assembly-97679\/\" style=\"\">separately invest a total of up to USD 145 mn here<\/a><\/span><span> over the next three years to expand their domestic assembly operations.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">And then there\u2019s Chimera, which is plowing hundreds of mns of USD into Egypt: <\/span><span style=\"\">Sheikh Tahnoon\u2019s <\/span><span>Royal Group \u2014 run by former EFG Hermes veteran Seif Fikry\u2014 has since last fall acquired a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/08\/04\/chimera-is-getting-56-of-beltone-and-no-more-77114\/\" style=\"\">controlling stake in Beltone<\/a><\/span><span> alongside big blocks of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/02\/mnt-halan-on-its-way-to-unicorn-status-with-major-chimera-investment-95288\/\" style=\"\">MNT Halan<\/a><\/span><span> and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/12\/20\/abu-dhabis-chimera-investments-to-acquire-45-of-gb-lease-91791\/\" style=\"\">GB Lease<\/a><\/span><span>. More recently, it acquired <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/15\/ripplewood-flips-big-part-of-its-efg-hermes-stake-to-chimera-others-96900\/\" style=\"\">nearly 3% of EFG Hermes<\/a><\/span><span style=\"font-weight:400;\"> from Tim Collins\u2019 Ripplewood. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Is the speed of<\/span><span style=\"font-weight:700\"> reform also slowing the pace of talks?<\/span><span style=\"\"> <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-02-24\/gulf-states-play-hardball-over-sending-billions-to-rescue-egypt\" style=\"\">Bloomberg<\/a><\/span><span style=\"\"> thinks so, saying <\/span><span>the three Gulf states are keeping \u201ca close eye on the EGP\u201d and want to see <\/span><span>evidence that we\u2019re delivering on our commitments to roll back state involvement in the economy and improve transparency of state-owned enterprises. <\/span><span>The business information service\u2019s piece this weekend quotes anonymous sources it says have knowledge of the matter.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The issue:<\/span><span style=\"\"> \u201cThe \u2018wait-and-see\u2019 mode from international investors could put additional pressure <\/span><span style=\"font-weight:400;\">on the EGP. The situation could spill over to Egypt\u2019s debt, as a shortage of funds and a weaker currency increase the burden of servicing external borrowings,\u201d said Bloomberg economist Ziad Daoud.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">EGP WATCH- <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-02-24\/egypt-likely-to-devalue-currency-again-societe-generale-says\" style=\"\">Bloomberg<\/a><\/span><span style=\"font-weight:700\"> picked up a report by <\/span><span style=\"font-weight:700\">Societe Generale<\/span><span style=\"font-weight:700\"> on Friday <\/span><span style=\"font-weight:700\">that forecasts another 10% drop in the EGP<\/span><span>\u2019s value by the end of March. The currency could end up trading at 34.00 by the end of the quarter \u2014 from <\/span><span>30.68 on Th<\/span><span>ursday \u2014 strategists at the bank said, suggesting they want to see \u201c<\/span><span style=\"font-weight:400;\">decisively hawkish action by the Central Bank of Egypt.\u201d<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">REMEMBER- <\/span><span>The Central Bank of Egypt (CBE) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/05\/cbe-keeps-rates-on-hold-in-surprise-move-95377\/\" style=\"\">left interest rates unchanged<\/a><\/span><span> in its first meeting of 2023, surprising analysts and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/09\/foreign-investors-want-higher-rates-before-returning-to-egypt-96068\/\" style=\"\">investors<\/a><\/span><span style=\"font-weight:400;\"> who had expected policymakers to deliver another sizable rate hike to try to curb inflation and bring foreign investors back into the market.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">WATCH THIS SPACE #1- Against that backdrop, the PM is in Doha:<\/span><span style=\"\"> <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cairo24.com\/1754876\" style=\"\">Cairo 24<\/a><\/span><span style=\"\"> <\/span><span>re<\/span><span>ports that <span id='wwtt2'>Prime Minister Moustafa Madbouly is heading to Qatar today<\/span> in a bid to push <\/span><span style=\"font-weight:400;\">forward talks for fresh Qatari investment. Citing diplomatic sources, the newspaper claims that the PM is taking a large number of ministers and business figures with him to the Qatari capital to talk investments with the country\u2019s political leaders. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">A breakthrough?<\/span><span style=\"font-weight:400;\"> One Qatari diplomatic source said the two sides will sign agreements that will unlock new Qatari investment in Egypt, without disclosing further information. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">This is the second high-level trip to Qatar this month<\/span><span>, coming less than three weeks since Planning Minister Hala El Said and Sovereign Fund of Egypt head Ayman Soliman <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/08\/el-said-calls-on-qataris-to-invest-adq-said-to-be-mounting-rival-bid-to-qias-vodafone-egypt-acquisition-95853\/\" style=\"\">visited the country<\/a><\/span><span style=\"font-weight:400;\"> to discuss investment.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">WATCH THIS SPACE #2- <\/span><span style=\"font-weight:700\">Panda issuance next FY?<\/span><span style=\"\"> <span id='wwtt3'>Egypt is set to take its inaugural panda bond issuance to the market in early FY 2023\/2024<\/span>, Nevine Mansour, Advisor to the Vice Finance Minister for Fiscal Policies told CNBC Arabia in an interview (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/bit.ly\/3ZkQLfP\" style=\"\">watch, runtime: 7:34<\/a><\/span><span>). Mansour did not provide details on the size of the issuance but early plans put the issuance at USD 500 mn in CNY-denominated bonds. Plans to issue the panda bonds have been in the works since 2019, but were put on hold due to the pandemic. Mansour\u2019s statements came as Egypt successfully <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/23\/egypts-debut-usd-1-5-bn-sovereign-sukuk-issuance-wraps-4x-oversubscribed-97675\/\" style=\"\">wrapped up<\/a><\/span><span style=\"font-weight:400;\"> its maiden sukuk issuance under a three-year, USD 5 bn sukuk program that saw the state net USD 1.5 bn in an offering that was 4x oversubscribed. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">ALSO HAPPENING TODAY- <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">INVESTMENT WATCH- <\/span><span id='wwtt4'>Expect news of progress on our regional industrial partnership with Jordan, the UAE and Bahrain<\/span>: <\/span><span>Agreements will be signed at a meeting in Amman today related to the industrial partnership we entered into with the three countries last year, according to a Trade and Industry Ministry <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/m.facebook.com\/story.php?story_fbid=pfbid0uVZHLX36DfZ5zRoBadZc4qEjjCXFxuukZ8fFfy7LFEr7WM84uuyx2BibbLMbpaPYl&id=100064838494517&mibextid=qC1gEa\" style=\"\">statement.<\/a><\/span><span style=\"font-weight:400;\"> Trade and Industry Minister Ahmed Samir is heading a delegation to Amman for the meeting, the statement read, without giving more details.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">ICYMI- <\/span><span>The four countries last year set up a USD 10 bn partnership to support industrial projects. <\/span><span>They identified <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/07\/26\/one-giant-leap-for-regional-integration-76536\/\" style=\"\">USD 3.4 bn-worth of joint investment projects<\/a><\/span><span style=\"font-weight:400;\"> in the first phase of the program, which is being bankrolled by UAE sovereign wealth fund ADQ. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Also in Jordan: Key talks between Palestinian and Israeli officials are happening <\/span><span style=\"font-weight:700\">today:<\/span><span> Egyptian and US officials will be in Jordan to attend a \u201cpolitical-security\u201d meeting between Palestinian and Israeli representatives called amid a surge in violence in the occupied Palestinian territories, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/english.alarabiya.net\/News\/middle-east\/2023\/02\/25\/Jordan-to-host-Palestinian-Israeli-talks-in-Aqaba-as-violence-spirals\" style=\"\">AFP<\/a><\/span><span style=\"font-weight:400;\"> reported, citing statements by an unnamed Jordanian government official. An Israeli raid in Nablus last week killed 11 Palestinians in what was the latest in a series of violent episodes since Israel\u2019s ultranationalist government entered office last month.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The US\u2019 top Middle East advisor is in Egypt and the region this week:<\/span><span style=\"\"> The meeting comes <\/span><span>during the visit by US President Joe Biden's top adviser on the Middle East Brett McGurk. His trip will include stops in Egypt, Jordan, Oman and the UAE, White House Press Secretary Karine Jean-Pierre said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/press-briefings\/2023\/02\/23\/press-briefing-by-press-secretary-karine-jean-pierre-february-23-2023\/\" style=\"\">a press briefing<\/a><\/span><span style=\"font-weight:400;\"> Thursday. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">CLOSER TO HOME- <\/span><span style=\"font-weight:700\">AmCham Egypt is hosting its annual MENA Regional Council Conference <\/span><span style=\"\">from <\/span><span>8:30am-5:30pm today at the Nile Ritz Carlton, according to an emailed statement.<\/span><span style=\"font-weight:700\"> <\/span><span>The event will focus on <\/span><span style=\"font-weight:700\">accelerating green investment<\/span><span style=\"font-weight:400;\"> in the MENA region. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Expect heavy hitters: <\/span><span>Keynote speakers include Prime Minister Moustafa <\/span><span style=\"font-weight:700\">Madbouly<\/span><span>, US climate envoy John <\/span><span style=\"font-weight:700\">Kerry<\/span><span>, COP27 climate czar Mahmoud <\/span><span style=\"font-weight:700\">Mohieldin<\/span><span>, and COP28 Director General Majid <\/span><span style=\"font-weight:700\">Al Suwaidi<\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">AUC + <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/electrifiedev.com\/\" style=\"\">E<\/a><\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/electrifiedev.com\/\" style=\"\">lectrified Egypt<\/a><\/span><span style=\"font-weight:700\"> <\/span><span style=\"font-weight:700\">are organizing a one-day e-mobility expo today at the AUC <\/span><span style=\"font-weight:700\">New Cairo campus from 12pm to 5pm.<\/span><span> <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/Electric-Mobility-Agenda-scaled.jpg\" style=\"\">Electric Mobility: The Power of<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/Electric-Mobility-Agenda-scaled.jpg\" style=\"\">Possibilities<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/Electric-Mobility-Agenda-scaled.jpg\" style=\"\">Expo<\/a><\/span><span style=\"font-weight:400;\"> will bring together researchers, students, industry professionals, startups, environmentalists, developers, investors, and government officials. Industry leaders speaking at the event include our friend Mohamed Ismail Mansour, chairman and CEO of Infinity; Sharon Nishi, managing director of General Motors Egypt and North Africa; and Ankush Arora, CEO of Al Mansour Automotive.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">HAPPENING THIS WEEK-<\/span><span style=\"font-weight:400;\"> <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\">Egypt-UN Partnership week kicked off yesterday ahead of <\/span><span>the signing of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/unsdg.un.org\/sites\/default\/files\/2022-06\/Egypt_Cooperation_Framework_Results_2023to2027.pdf\" style=\"\">UN Sustainable Development Cooperation Framework (UNSDCF) 2023-2027 (pdf)<\/a><\/span><span>, the International Cooperation Ministry <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/moic.gov.eg\/news\/911\" style=\"\">said<\/a><\/span><span>.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The House is back in session tomorrow:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">MONDAY-<\/span><span style=\"\"> The House will discuss and vote on bills that will <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/21\/govt-approves-two-month-extension-to-expat-car-import-scheme-97502\/\" style=\"\">extend the government\u2019s<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/21\/govt-approves-two-month-extension-to-expat-car-import-scheme-97502\/\" style=\"\">expat car import scheme<\/a><\/span><span> and exempt <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/21\/govt-approves-two-month-extension-to-expat-car-import-scheme-97502\/\" style=\"\">phone components from being charged development fees<\/a><\/span><span>. It will also discuss and vote on three foreign agreements on human rights, economic governance and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.unep.org\/ozonaction\/who-we-are\/about-montreal-protocol\" style=\"\">the Montreal Protocol<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/li>\n<li><span style=\"font-weight:700\">TUESDAY<\/span><span style=\"\">- Social Solidarity Minister Nevine El Qabbaj will be in the hot seat to answer <\/span><span>questions from MPs on pensions, social protection programs, and services offered to disabled people. <\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">***<br \/>DO YOU HAVE A COMMENT OR QUESTION? Want to set us straight on something? <\/span><span>Or need help with your subscription? All you need to do is hit \u201creply\u201d to this email \u2014 we read every email we get. <br \/><\/span><span style=\"font-weight:700\">***<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/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 style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">DATA POINT- Fuel subsidy bill <\/span><span style=\"font-weight:700\">reportedly<\/span><span style=\"font-weight:700\"> quadruples following devaluation, energy <\/span><span style=\"font-weight:700\">shock:<\/span><span> <\/span><span>The government spent EGP 66 bn on fuel subsidies in 1H FY <\/span><span>2022-2023 \u2014<\/span><span style=\"font-weight:700\"> <\/span><span>nearly 4x its spend a year before \u2014 due to the EGP\u2019s devaluation against the greenback and higher oil prices, an unnamed government official was quoted as telling <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3SxVLLV\" style=\"\">Asharq Business<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">We\u2019re still waiting to hear what the government intends to do with fuel prices in 1Q: <\/span><span style=\"\">Its <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/08\/this-evening-madboulys-privatization-presser-kicking-off-soon-china-isnt-thrilled-with-sleepy-joe-95988\/\" style=\"\">fuel pricing committee<\/a><\/span><span style=\"font-weight:400;\"> was scheduled to convene at the beginning of January to set prices for the first quarter. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Expect prices to rise: <\/span><span style=\"\">The government has committed to changing local fuel prices in line with <\/span><span style=\"font-weight:400;\">movements in the global markets under the USD 3 bn loan agreement with the IMF. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">COME TO OUR NEXT ENTERPRISE FORUM- <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/Export-FDI-Forum_1600.jpg?ssl=1\"\/><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">We\u2019re excited to unveil our next C-level event: <\/span><span style=\"\">The Enterprise Exports & FDI Forum, where <\/span><span style=\"font-weight:400;\">we will take a deep dive into two of the most critical topics affecting our community.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Exports and foreign direct investment (FDI) have never been more important to our economy<\/span><span> \u2014 or our businesses \u2014 than in the wake of the float of the EGP. <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/issues\/2022\/10\/18\/am-a-five-step-recipe-to-boost-exports-fdi-and-make-sure-egypt-never-has-to-ask-the-imf-for-another-cent\/\" style=\"\">We think we have a once-in-a-lifetime chance to build an export-led economy<\/a><\/span><span style=\"font-weight:400;\"> that makes us a magnet for FDI and all the benefits that will come with it for our nation.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">THE BIG STORY ABROAD-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The war in Ukraine is continuing to dominate the global conversation this morning<\/span><span style=\"\">, two <\/span><span>days after the one-year anniversary of Russia\u2019s invasion. Most of the focus is on yesterday\u2019s meetings of G-20 finance ministers in India, which ended without an agreement on a final communique after Moscow and Beijing refused to condemn the war. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/apnews.com\/article\/russia-ukraine-zelenskyy-government-business-1753e114c499886eecc8d8bb169baeb4?utm_source=homepage&utm_medium=TopNews&utm_campaign=position_01\" style=\"\">AP<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/india\/india-urges-focus-most-vulnerable-g20-meeting-avoids-mention-war-2023-02-24\/\" style=\"\">Reuters<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/d4993f7a-0a14-4c9a-9e98-044a769e1230\" style=\"\">Financial Times<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.washingtonpost.com\/politics\/2023\/02\/25\/biden-ukraine-aid\/\" style=\"\">Washington Post<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wsj.com\/articles\/china-sticks-close-to-russia-as-it-makes-cautious-diplomatic-push-4416eed8\" style=\"\">WSJ<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bbc.com\/news\/world-asia-64773618\" style=\"\">BBC<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cnbc.com\/2023\/02\/24\/ukraine-prepares-for-the-biggest-reconstruction-since-world-war-ii.html\" style=\"\">CNBC<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Warren Buffett\u2019s annual letter dropped over the weekend and as usual is the big story in <\/span><span style=\"font-weight:700\">global business press this morning:<\/span><span> Buffett kept an optimistic tone in his <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/Buffett_shareholder-letter2022.pdf\" style=\"\">annual shareholder letter (pdf)<\/a><\/span><span>, calling a 2022 a \u201cgood\u201d year for Berkshire Hathaway which saw the company <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/BerkshireHathaway_earnings_4Q2022.pdf\" style=\"\">report (pdf)<\/a><\/span><span> a record USD 30.8 bn in operating earnings despite ending up with a net loss of USD 22.8 bn loss. \u201cDespite our citizens\u2019 penchant \u2013 almost enthusiasm \u2013 for self-criticism and self-doubt, I have yet to see a time when it made sense to make a long-term bet against America,\u201d he wrote. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/business\/buffetts-berkshire-posts-record-annual-operating-profit-2023-02-25\/\" style=\"\">Reuters<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-02-25\/berkshire-rail-insurance-units-see-earnings-hit-on-weak-demand?srnd=premium-middle-east\" style=\"\">Bloomberg<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/97b87555-3b1a-408d-90c4-21cb45afecb9\" style=\"\">Financial Times<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cnbc.com\/2023\/02\/25\/berkshire-hathaway-brk-earnings-q4-2022.html\" style=\"\">CNBC<\/a><\/span><span style=\"font-weight:400;\">) <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">CIRCLE YOUR CALENDAR-<\/span><span style=\"font-weight:400;\"> <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The National Dialogue could begin after Ramadan<\/span><span style=\"\">, people in the know reportedly to<\/span><span>ld <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.thenationalnews.com\/mena\/egypt\/2023\/02\/24\/egypts-national-dialogue-to-begin-after-ramadan-officials-say\/\" style=\"\">the National<\/a><\/span><span>. The dialogue was expected to kick off on <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/11\/this-evening-did-we-find-a-market-clearing-egp-usd-rate-why-theres-room-for-some-optimism-93336\/\" style=\"\">14 January<\/a><\/span><span>, but <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/15\/this-morning-chinese-foreign-minister-qin-gang-is-in-town-93511\/\" style=\"\">was postponed<\/a><\/span><span> after political parties failed to name their representatives to the sessions on time.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Techne Summit <\/span><span style=\"font-weight:700\">is back: <\/span><span style=\"\">The two-day <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/cairo.technesummit.com\/2023\" style=\"\">Tech and Innovation summit<\/a><\/span><span style=\"\"> takes place on 11-<\/span><span style=\"\">12 <\/span><span style=\"\">March <\/span><span>at the National Museum of Egyp<\/span><span>tian Civilization.<\/span><span style=\"\"> See the statement <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/Techne_Summit_PRL_EN__23.2.2023-V3.pdf\" style=\"\">here (pdf)<\/a><\/span><span style=\"\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">TE earnings delayed:<\/span><span style=\"\"> State-owned telecoms firm Telecom Egypt will now report its 4Q <\/span><span>2022 finan<\/span><span>cial results on 6 March,<\/span><span> instead of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"\" style=\"\">23 February (pdf)<\/a><\/span><span style=\"font-weight:400;\"> as expected.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">National higher education strategy coming next month:<\/span><span style=\"\"> The Higher Educatio<\/span><span style=\"\">n <\/span><span>Ministry will launch a national strategy for higher education and scientific research on 7 March, Minister Ayman Ashour <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02iSVaEsUy6bruy3PTrRT8UjMW9ZHftBEiGLzDthPWqC4qZKSve5rhQ5zdaQ2WSzsTl\" style=\"\">said yesterday<\/a><\/span><span style=\"font-weight:400;\">. The launch will be the start of a \u201cserious societal dialogue to upgrade higher education and scientific research\u201d in the country in accordance with Egypt\u2019s sustainable development strategy and industrial revolutions globally. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">CORRECTION-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\">This story was corrected on 26 February, 2023 to reflect that the regional industrial partnership meets in Amman on 25 and 26 February, not 26 and 27 February as we previously wrote. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\" style=\"\">Check out our full calendar on the web<\/a><\/span><span> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning, friends, and welcome to what is shaping up to be a very busy week for news. The question of the week: Will we see Riyadh, Abu Dhabi and Doha start to pull the trigger on their long-awaited investments in Egypt? That\u2019s the \u201ctop of mind\u201d question on Egypt this morning in the global [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":581810,"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":[104,1419,72,7196,125,7128,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-581809","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-economy","tag-egp","tag-enterpriseam","tag-industry","tag-investment-watch","tag-ma-watch","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"9638e242-d642-4a64-b1fe-6c4a66b301f9","order":"0","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2023\/1\/Egypt-1600.jpg","photo_position":"below","homepage_title":"","full_issue_title":"What\u2019s it going to take to unlock Gulf investments in Egypt?","related_issue":[581807],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/2\/.921c0617-9878-422e-8bad-84b1da851ee4.mp3"},"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>THIS MORNING: What\u2019s it going to take to unlock Gulf investments in Egypt? - 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\/2023\/02\/26\/this-morning-whats-it-going-to-take-to-unlock-gulf-investments-in-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS MORNING: What\u2019s it going to take to unlock Gulf investments in Egypt?\" \/>\n<meta property=\"og:description\" content=\"Good morning, friends, and welcome to what is shaping up to be a very busy week for news. The question of the week: Will we see Riyadh, Abu Dhabi and Doha start to pull the trigger on their long-awaited investments in Egypt? That\u2019s the \u201ctop of mind\u201d question on Egypt this morning in the global [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/26\/this-morning-whats-it-going-to-take-to-unlock-gulf-investments-in-egypt\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-26T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/Egypt-1600.jpg?fit=%2C&ssl=1\" \/>\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=\"10 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/26\/this-morning-whats-it-going-to-take-to-unlock-gulf-investments-in-egypt\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/26\/this-morning-whats-it-going-to-take-to-unlock-gulf-investments-in-egypt\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"THIS MORNING: What\u2019s it going to take to unlock Gulf investments in Egypt?\",\"datePublished\":\"2023-02-26T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/26\/this-morning-whats-it-going-to-take-to-unlock-gulf-investments-in-egypt\/\"},\"wordCount\":2077,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/26\/this-morning-whats-it-going-to-take-to-unlock-gulf-investments-in-egypt\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/Egypt-1600.jpg?fit=%2C&ssl=1\",\"keywords\":[\"economy\",\"EGP\",\"EnterpriseAM\",\"industry\",\"investment watch\",\"M&amp;A Watch\",\"What We're Tracking Today\"],\"articleSection\":[\"What We're Tracking Today\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/26\/this-morning-whats-it-going-to-take-to-unlock-gulf-investments-in-egypt\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/26\/this-morning-whats-it-going-to-take-to-unlock-gulf-investments-in-egypt\/\",\"name\":\"THIS MORNING: What\u2019s it going to take to unlock Gulf investments in Egypt? 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It\u2019s a much calmer end to the week than we had expected, judging by the newsflow over the past couple of weeks. THE BIG STORIES TODAY State-owned hospitals up for private sector grabs? 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Case in point\u2026PSA- The CBE just announced Ramadan working hours for banks: Bank employees will work from 9am-2pm, while customers will have\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/agreement-2-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":562485,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/26\/this-morning-blinken-is-in-town-imf-staff-agreement-on-third-sba-loan-tranche-budget-week-rolls-on\/","url_meta":{"origin":581809,"position":4},"title":"THIS MORNING: Blinken is in town + IMF staff agreement on third SBA loan tranche + budget week rolls on","author":"enterpriseam admin","date":"26 May 2021","format":false,"excerpt":"Good morning, friends. We\u2019re almost at the weekend, and diplomacy dominates the press, the airwaves, and our issue today. 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