{"id":583134,"date":"2023-02-09T00:00:00","date_gmt":"2023-02-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/this-evening-govt-could-sell-stakes-in-more-military-owned-firms-el-sisi-says-inflation-rises-again-in-january\/"},"modified":"2023-02-09T00:00:00","modified_gmt":"2023-02-09T00:00:00","slug":"this-evening-govt-could-sell-stakes-in-more-military-owned-firms-el-sisi-says-inflation-rises-again-in-january","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/this-evening-govt-could-sell-stakes-in-more-military-owned-firms-el-sisi-says-inflation-rises-again-in-january\/","title":{"rendered":"THIS EVENING: Gov\u2019t could sell stakes in more military-owned firms, El Sisi says + Inflation rises again in January"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Good afternoon, ladies and gentlemen, and welcome to the last few hours of the work<\/span><span style=\"font-weight:700\"> week.<\/span><span> It\u2019s been a busy 24 hours, to say the least, so we hope you are all able to disconnect over the weekend. <\/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 STORIES TODAY<\/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\">#1- Could we see more military-owned firms joining the state privatization<\/span><span style=\"font-weight:700\"> program?<\/span><span> The government is \u201cready\u201d to offer up stakes in <\/span><span>all <\/span><span>military-owned firms as part of the state privatization program, or otherwise expand private sector partnerships with military-owned players, President Abdel Fattah El Sisi said today (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=ArDjeugyMLs\" style=\"\">watch, runtime: 3:02<\/a><\/span><span style=\"font-weight:400;\">). El Sisi\u2019s remarks come one day after Prime Minister Moustafa Madbouly unveiled the government\u2019s plan to sell stakes in 32 state-owned companies through sales to strategic investors and offerings on the EGX over the next 13 months. <\/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\">#2- Inflation inched up again in January, hitting a new five-year high<\/span><span style=\"\"> on the back of the<\/span><span> EGP devaluation, coupled with <\/span><span style=\"\">a shortage of foreign currency that led to delayed import arrivals. Annual urban inflation rose 25.8% y-o-y during the first month of the year, up from 21.3% <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/11\/inflation-hits-new-high-on-weaker-egp-93299\/\" style=\"\">in December<\/a><\/span><span style=\"\">, according to figures from <\/span><span style=\"\">state statistics agency Capmas. This is the highest rate since December 2017, and is up from just 8% in January 2022.<\/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 aftermath of the earthquakes in Syria and Turkey continue to lead the conversation<\/span><span style=\"\"> in<\/span><span> the international press this afternoon. The death toll from Monday\u2019s earthquake has now surpassed 17.5k across the two countries, with more than 14k of those deaths in Turkey, where public discontent over the government\u2019s handling of rescue efforts continues to grow. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/middle-east\/death-toll-syria-turkey-quake-rises-more-than-8700-2023-02-08\/\" style=\"\">Reuters<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wsj.com\/livecoverage\/turkey-syria-earthquake?mod=hp_lead_pos7\" style=\"\">Wall Street Journal<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-02-09\/quake-latest-deaths-top-14-000-survivors-found-after-73-hours\" style=\"\">Bloomberg<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cnbc.com\/2023\/02\/09\/turkey-earthquake-comes-at-a-critical-time-for-the-countrys-future.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: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\">** CATCH UP QUICK<\/span><span style=\"\"> on the top stories from today\u2019s <\/span><span style=\"font-weight:700\">EnterpriseAM<\/span><span style=\"\">:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">Foreign investors want higher rates before returning to Egypt: <\/span><span>Would-be emerging market investors looking to return to Egypt after January\u2019s devaluations <\/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=\"\">were disappointed<\/a><\/span><span> by the Central Bank of Egypt\u2019s decision to leave interest rates on hold last week.<\/span><\/li>\n<li><span style=\"font-weight:700\">Local mobile phone assemblers are going to pay one less tax:<\/span><span> Cabinet approved <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/09\/cabinet-scraps-5-development-fee-for-local-mobile-phone-assemblers-96069\/\" style=\"\">exempting a 5% development fee<\/a><\/span><span style=\"font-weight:400;\"> on imported mobile phone components as part of the government\u2019s efforts to localize the industry. <\/span><\/li>\n<li><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/09\/sri-lankas-lolc-wants-to-expand-in-egypt-96070\/\" style=\"\">Yesterday in M&A<\/a><\/span><span style=\"font-weight:700\">:<\/span><span> A Sri Lankan financial services conglomerate that established a presence in Egypt last year wants to make new acquisitions, and Nilex-listed medical supplier ICMI has signed a purchase agreement to acquire a textile company.<\/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: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=\"font-weight:700\">IT\u2019S YOUR LAST CHANCE TO <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/www.surveymonkey.com\/r\/FMGPJ3G\" style=\"\">TAKE OUR JANUARY ENTERPRISE READER SURVEY<\/a><\/span><span style=\"font-weight:700\"> and get a chance to break bread with us:<\/span><span style=\"font-weight:400;\"> Give us your thoughts on how 2022 panned out for your business and industry, and what you\u2019re expecting in the year ahead in our Enterprise Reader Survey.<\/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\">You can <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/www.surveymonkey.com\/r\/FMGPJ3G\" style=\"\">take the Reader Survey here<\/a><\/span><span style=\"font-weight:400;\"> \u2014 it won\u2019t take more than a few minutes to complete.<\/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\">Want to have a meal with us?<\/span><span style=\"font-weight:400;\"> Leave your name, email, mobile number, and where you work in the box for \u201cIs there anything else you want to tell us.\u201d We\u2019ll be inviting eight participating readers to a meal at one of our favorite restaurants. <\/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 SURVEY CLOSES TODAY <\/span><span>\u2014 so jump in now if you want to have a meal with us.<\/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><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Universities back in session this weekend:<\/span><span style=\"\"> The second semester of the 2022-2023 academic year begins for <\/span><span style=\"font-weight:400;\">public universities on 11 February.<\/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\">President Abdel Fattah El Sisi will be in Dubai <\/span><span style=\"\">to attend the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldgovernmentsummit.org\/events\/world-government-summit-2023\" style=\"\">World Government Summit<\/a><\/span><span style=\"\">, <\/span><span>which runs 13-15 February. Twenty heads of state will be in town for the Davos-like gathering, which will see policymakers from around the world discuss global trends, according to Emirati state news agency <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/wam.ae\/en\/details\/1395303125158\" style=\"\">WAM<\/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\">Petro-show next week:<\/span><span style=\"\"> Oil and gas industry figures from Egypt and the region will congregate <\/span><span>at the Egypt International Exhibition Center for the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egyps.com\/\" style=\"\">Egypt Petroleum Show (Egyps)<\/a><\/span><span style=\"font-weight:400;\"> starting next Monday. The three-day conference runs 13-15 February.<\/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\">MPs are back next week: <\/span><span style=\"font-weight:400;\">The House will reconvene on Sunday, 12 February.<\/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 style=\"font-weight:400;\"> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/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\">?\ufe0f <\/span><span style=\"font-weight:700\">TOMORROW\u2019S WEATHER- <\/span><span style=\"\">We\u2019re in for a mix of sun and clouds over the weekend.<\/span><span> Tomorrow is set to be mostly sunny, with a daytime high of 19<\/span><span style=\"font-weight:400;\">\u00b0C and a nighttime low of 9\u00b0C, while Saturday is expected to be a little more on the cloudy side as the daytime high cools to 18\u00b0C and the low will drop to 7\u00b0C, our favorite weather app says. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon, ladies and gentlemen, and welcome to the last few hours of the work week. It\u2019s been a busy 24 hours, to say the least, so we hope you are all able to disconnect over the weekend. THE BIG STORIES TODAY #1- Could we see more military-owned firms joining the state privatization program? The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":583135,"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":[96,182,587,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-583134","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-abdel-fattah-el-sisi","tag-inflation","tag-state-privatization-program","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"4652848f-5694-48d0-b617-2085e3cd11de","order":"0","is_powered_by":false,"story_type":"4","photo_url":"http:\/\/enterprise.press\/wp-content\/uploads\/2023\/01\/Shoppers-Cairo-market-Reuters-1.23.23-1600px.jpg","photo_position":"below","homepage_title":"","full_issue_title":"Egypt could sell stakes in more military-owned firms, El Sisi says + Inflation rises again in January","related_issue":[583132],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/3\/.fb4c6725-b49a-4483-abc6-1a0318f0639e.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 EVENING: Gov\u2019t could sell stakes in more military-owned firms, El Sisi says + Inflation rises again in January - 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\/09\/this-evening-govt-could-sell-stakes-in-more-military-owned-firms-el-sisi-says-inflation-rises-again-in-january\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS EVENING: Gov\u2019t could sell stakes in more military-owned firms, El Sisi says + Inflation rises again in January\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, ladies and gentlemen, and welcome to the last few hours of the work week. 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The [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/this-evening-govt-could-sell-stakes-in-more-military-owned-firms-el-sisi-says-inflation-rises-again-in-january\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-09T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/internal\/wp-content\/uploads\/2023\/01\/Shoppers-Cairo-market-Reuters-1.23.23-1600px.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=\"4 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\/09\/this-evening-govt-could-sell-stakes-in-more-military-owned-firms-el-sisi-says-inflation-rises-again-in-january\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/this-evening-govt-could-sell-stakes-in-more-military-owned-firms-el-sisi-says-inflation-rises-again-in-january\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"THIS EVENING: Gov\u2019t could sell stakes in more military-owned firms, El Sisi says + Inflation rises again in January\",\"datePublished\":\"2023-02-09T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/this-evening-govt-could-sell-stakes-in-more-military-owned-firms-el-sisi-says-inflation-rises-again-in-january\/\"},\"wordCount\":768,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/this-evening-govt-could-sell-stakes-in-more-military-owned-firms-el-sisi-says-inflation-rises-again-in-january\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/internal\/wp-content\/uploads\/2023\/01\/Shoppers-Cairo-market-Reuters-1.23.23-1600px.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Abdel Fattah El Sisi\",\"inflation\",\"state privatization program\",\"WHAT WE\u2019RE TRACKING TONIGHT\"],\"articleSection\":[\"WHAT WE\u2019RE TRACKING TONIGHT\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/this-evening-govt-could-sell-stakes-in-more-military-owned-firms-el-sisi-says-inflation-rises-again-in-january\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/09\/this-evening-govt-could-sell-stakes-in-more-military-owned-firms-el-sisi-says-inflation-rises-again-in-january\/\",\"name\":\"THIS EVENING: Gov\u2019t could sell stakes in more military-owned firms, El Sisi says + Inflation rises again in January - 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Bringing in the private sector for partnerships \u201ccould increase governance and could improve performance, he said (watch, runtime:\u2026","rel":"","context":"In &quot;Privatization&quot;","block_context":{"text":"Privatization","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/privatization-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":546182,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/08\/privatization-program-back-in-action-this-september-says-tawfik\/","url_meta":{"origin":583134,"position":1},"title":"Privatization program back in action this September, says Tawfik","author":"enterpriseam admin","date":"8 May 2022","format":false,"excerpt":"Egypt plans to offer shares in state companies on the EGX starting in September, Public Enterprise Minister Hisham Tawfik told Reuters yesterday. The minister said the move had been delayed until after the summer, without providing further details on the companies to be listed.Egypt had hoped to sell shares in\u2026","rel":"","context":"In &quot;Privatization&quot;","block_context":{"text":"Privatization","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/privatization-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":592104,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/26\/egypts-el-sisi-revives-talks-about-listing-military-companies\/","url_meta":{"origin":583134,"position":2},"title":"Egypt\u2019s El Sisi revives talks about listing military companies","author":"enterpriseam admin","date":"26 December 2019","format":false,"excerpt":"El Sisi signals that military companies on the EGX more than just an idea: Military-owned companies and assets will be listed on the EGX, President Abdel Fattah El Sisi said yesterday, bringing up the idea for the second time in less than two months. 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