{"id":584598,"date":"2023-04-03T00:00:00","date_gmt":"2023-04-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/03\/this-morning-el-sisi-takes-suhoor-with-mbs-in-jeddah\/"},"modified":"2023-04-03T00:00:00","modified_gmt":"2023-04-03T00:00:00","slug":"this-morning-el-sisi-takes-suhoor-with-mbs-in-jeddah","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/03\/this-morning-el-sisi-takes-suhoor-with-mbs-in-jeddah\/","title":{"rendered":"THIS MORNING: El Sisi takes suhoor with MBS in Jeddah"},"content":{"rendered":"

Good morning, wonderful people, and happy Monday. <\/span>We bring you another busy morning \u2014 proof, we think, that there will be no Ramadan news slowdown in 2023. <\/span><\/p>\n

THE BIG STORIES HERE AT HOME have a distinctly Gulf flavor this morning:<\/span><\/p>\n

<\/span>#1- El Sisi and MbS shared suhoor this morning:<\/span> President Abdel Fatth El Sisi and Saud<\/span>i Crown Prince Mohammed bin Salman sat down for suhoor after El Sisi landed in Jeddah this morning, the <\/span>Saudi Press Agency (SPA)<\/a><\/span> reports. The pair discussed enhancing bilateral relations, the SPA said, without giving further details. Egyptian intelligence chief Abbas Kamel was also in attendance. <\/span><\/p>\n

REMEMBER- <\/span>El Sisi\u2019s trip comes as Cairo seeks to secure USD bns in FDI from Riyadh against <\/span>the backdrop of a major diplomatic realignment in the region. <\/span>Reuters<\/a><\/span> also took note of the visit. <\/span>Riyadh and Cairo have been working to ease tensions in the region including by improving ties with Syria and Turkey and (in Riyadh\u2019s case) showing signs it could bring Iran in from the cold.<\/span><\/p>\n

#2- And is there new Gulf M&A in the works? <\/span> A local subsidiary of Kuwait\u2019s largest insurer Gig is on track to acquire a competitor, and local media is reporting that the UAE\u2019s Aldar is eyeing Heliopolis Housing\u2019s Heliopark project. We have the rundown on both stories in the news well, below. <\/span><\/p>\n

** <\/span>SO, WHEN DO WE EAT? <\/span>We\u2019ll be breaking our fasts at 6:14pm CLT today. You have until <\/span>4:14am tomorrow morning to hydrate and grab a bite to eat. <\/span><\/p>\n

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

<\/a><\/span>The House of Representatives is back in session again today <\/span>after <\/span>giving an initial nod<\/span> yesterday a bill prohibiting fake weather reports yesterday (more on that in Also On Our Radar.) <\/span><\/p>\n

MPs will vote today on the proposed return of <\/span>daylight saving time<\/a><\/span>, which would see Cairo Loca<\/span>l Time (CLT) pushed forward by one hour from the last Friday of April through to the last Thursday of October. <\/span><\/p>\n

More oil FDI? <\/span>The House will discuss and vote on four bills allowing the Oil Ministry to sign <\/span>exploration agreements with foreign oil and gas companies. Ukrainian state-owned <\/span>Naftagas Ukrayiny<\/a><\/span>is looking to drill for oil in the Western Desert, while Eni subsidiary IEOC wants to launch oil and gas exploration at three East Mediterranean concessions, one in partnership with BP, one with state-o<\/span>wned EGAS, and one alone. <\/span><\/p>\n

WATCH THIS SPACE?-<\/span> The Tourism committee will discuss today the closure of the <\/span>Shepheard Hotel<\/span> in Downtown Cairo (hello, privatization program?), while a <\/span>USAID<\/span> grant on economic governance is up for debate in the Social Solidarity Committee.<\/span><\/p>\n

It\u2019s a brand new month.<\/span> Here are some economic indicators to look out for<\/span>:<\/span><\/p>\n