{"id":585002,"date":"2023-04-09T00:00:00","date_gmt":"2023-04-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/09\/this-evening-govt-says-its-keeping-subsidized-loans-for-industry-agriculture-tensions-continue-to-rise-in-jerusalem\/"},"modified":"2023-04-09T00:00:00","modified_gmt":"2023-04-09T00:00:00","slug":"this-evening-govt-says-its-keeping-subsidized-loans-for-industry-agriculture-tensions-continue-to-rise-in-jerusalem","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/09\/this-evening-govt-says-its-keeping-subsidized-loans-for-industry-agriculture-tensions-continue-to-rise-in-jerusalem\/","title":{"rendered":"THIS EVENING: Gov\u2019t says it\u2019s keeping subsidized loans for industry, agriculture + Tensions continue to rise in Jerusalem"},"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, friends.<\/span><span style=\"\"> We\u2019re still seeing telltale signs of that long-awaited Ramadan news<\/span><span style=\"font-weight:400;\"> slowdown today, with a relatively calm Sunday to start the week. <\/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\">** SO, WHEN DO WE EAT? <\/span><span style=\"\">We\u2019ll be breaking our fasts at 6:18pm CLT today. You have until <\/span><span style=\"font-weight:400;\">4:05am tomorrow morning to hydrate and grab a bite to eat. <\/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 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\">Gov\u2019t isn\u2019t scrapping EGP 150 subsidized loan program for industry +<\/span><span style=\"font-weight:700\"> agriculture:<\/span><span> The government is planning to move ahead with its planned EGP 150 bn loan program for industry and agriculture players in FY 2023-2024, despite the fiscal burden it will incur, according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/tinyurl.com\/2yzdjxwf\" style=\"\">Finance Ministry statement<\/a><\/span><span>.<\/span><span style=\"font-weight:400;\"> The loans will be offered at a subsidized 11% rate, which will cost state coffers some EGP 13 bn, the statement says. <\/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\">Israel hit multiple military targets in Syria after rockets were fired overnight towards<\/span><span style=\"font-weight:700\"> Israeli occupied territories in Golan Heights yesterday<\/span><span>, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/middle-east\/israel-says-missile-alert-sounded-golan-heights-2023-04-08\/\" style=\"\">Reuters<\/a><\/span><span>. Syrian state media reported explosions near the capital Damascus with no casualties. Of the three rockets that were fired, two fell on open ground and the third was intercepted, Israeli officials said. The story is also getting ink in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-04-09\/tensions-build-around-jerusalem-shrine-after-syria-rockets\" style=\"\">Bloomberg<\/a><\/span><span> and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cnbc.com\/world\/?region=world\" style=\"\">CNBC<\/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:400;\"><\/span><\/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=\"font-weight:400;\">:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">World Bank revises downward its Egypt economic growth forecast:<\/span><span> The World Bank <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ee8ce1f3-29e5-4eba-99f3-e3fbea436095\" style=\"\">now expects<\/a><\/span><span style=\"font-weight:400;\"> Egypt\u2019s economy to grow at a 4.0% clip during the fiscal year 2022-2023, according to its April MENA Economic Update.<\/span><\/li>\n<li><span style=\"font-weight:700\">Feed suppliers can now register to buy yellow corn through the EMX:<\/span><span> The Supply Ministry <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/32ffe510-f219-4858-b44d-16882f3429ac\" style=\"\">is selling<\/a><\/span><span style=\"font-weight:400;\"> imported yellow corn to poultry feed factories through the Egyptian Mercantile Exchange (EMX). <\/span><\/li>\n<li><span style=\"font-weight:700\">New high-yield CDs:<\/span><span> Emirates NBD Egypt and United Bank of Egypt <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/949808ec-6766-4180-9d42-6c14825eba76\" style=\"\">have brought<\/a><\/span><span style=\"font-weight:400;\"> new, high-interest rate certificates of deposit to the market.<\/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;\"><\/span><\/p>\n<p class=\"web-image-inner\"><img data-recalc-dims=\"1\" decoding=\"async\" style=\"display: block\" src=\"https:\/\/i0.wp.com\/enterprise.press\/wp-content\/uploads\/2022\/03\/Inside-Industry-en-WEB-1600x584-v5-03-1.jpg\" alt=\"enterprise\"><\/p>\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 Inside Industry day \u2014<\/span><span style=\"font-weight:700\">your weekly briefing of all things industrial in Egypt.<\/span><span style=\"font-weight:400;\"> Inside Industry focuses each Sunday on what it takes to turn Egypt into a manufacturing and export powerhouse, ranging from initial investment and planning to product distribution, through to land allocation to industrial processes, supply chain management, labor, automation and technology, inputs and exports, regulation and policy.<\/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\">In today\u2019s issue:<\/span><span style=\"\"> We look at the different steps being taken to develop the domestic tire<\/span><span style=\"font-weight:400;\"> industry and address our outsized reliance on imports to meet local consumption. <\/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;\"><\/span><\/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;\">? 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\">Good news for the tired souls among us: This will be our last full work week of the <\/span><span style=\"font-weight:700\">month. <\/span><\/p>\n<ul>\n<li><span>Coptic Easter falls on<\/span><span style=\"font-weight:700\"> Sunday, 16 April. <\/span><span style=\"font-weight:400;\">It\u2019s typically a bank holiday, but not a national holiday (though it should be); <\/span><\/li>\n<li><span style=\"font-weight:700\">Monday, 17 April <\/span><span>is a public holiday for both the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0BNL8Rkb2kqTeGd758PhNDiQcgxtn1x1u6t78PLrLrBfrhhQJ4SfYq9QnJPKzCASfl\" style=\"\">public and private sector<\/a><\/span><span style=\"font-weight:400;\"> to mark Sham El Nessim. Look for confirmation this week that the EGX and central bank will follow suit;<\/span><\/li>\n<li><span>Eid El Fitr should land on or around<\/span><span style=\"font-weight:700\"> Friday, 21 April<\/span><span>,<\/span><span>and <\/span><span style=\"font-weight:700\">Tuesday, 25 April <\/span><span style=\"font-weight:400;\">is Sinai Liberation Day.<\/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\">The caveat: <\/span><span style=\"\">Cabinet has yet to make clear what days we will observe as national holidays in <\/span><span style=\"font-weight:400;\">the 21-25 April window. Are you planning to bridge? <\/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\">PSA- <\/span><span style=\"font-weight:700\">We\u2019re bringing back daylight saving time (yet again) on Friday, 28 April. <\/span><span style=\"\">You\u2019ll be losing an hour\u2019s sleep as clocks jump forward one hour until the final Thursday of October. <\/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\">\u2600\ufe0f <\/span><span style=\"font-weight:700\">TOMORROW\u2019S WEATHER- <\/span><span style=\"font-weight:700\">We\u2019re heading into a week of changeable weather <\/span><span style=\"\">with a good chance of <\/span><span>wind and rain in much of the country throughout the week, particularly on the North and Red Sea coasts. In the Greater Cairo Area, things are starting off hot, with the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/photo?fbid=664965735673850&amp;set=pcb.664965765673847\" style=\"\">Egyptian Meteorological Authority (EMA)<\/a><\/span><span> forecasting<\/span><span> a daytime high of 28\u00b0C and a nighttime low of 15\u00b0C tomorrow.<\/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;\"><a href=\"https:\/\/exportsfdi.enterprise.press\/registration.html\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/632.jpg?ssl=1\"><\/a><\/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 are delighted to share with you that the Enterprise Exports &amp; FDI Forum <\/span><span style=\"\">will be taking <\/span><span style=\"\">place on<\/span><span style=\"font-weight:700\"> Monday, 15 May <\/span><span style=\"\">at the<\/span><span style=\"font-weight:700;\"> Four Seasons Hotel at Nile Plaza.<\/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\">DO YOU WANT TO ATTEND?<\/span><span style=\"\"> If you\u2019re a C-suite exec, exporter, investor, official, banker, or someone who should be part of the conversation, please <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/exportsfdi.enterprise.press\/registration.html\" style=\"\">TAP OR CLICK HERE<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/exportsfdi.enterprise.press\/registration.html\" style=\"\">to request a spot at this exclusive event<\/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\">WANT TO SHARE YOUR STORY ON STAGE?<\/span><span> Drop a note to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"mailto:patrick@enterprisemea.com\" style=\"\">Patrick here and let\u2019s talk<\/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\">WANT TO BECOME A COMMERCIAL PARTNER?<\/span><span> Ping a note to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"mailto:mtaalab@inktankir.com\" style=\"\">Moustafa, our head of commercial, here<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon, friends. We\u2019re still seeing telltale signs of that long-awaited Ramadan news slowdown today, with a relatively calm Sunday to start the week. ** SO, WHEN DO WE EAT? We\u2019ll be breaking our fasts at 6:18pm CLT today. You have until 4:05am tomorrow morning to hydrate and grab a bite to eat. THE BIG [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":585003,"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":[633,166,278,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-585002","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-enterprisepm","tag-israel-palestine-conflict","tag-state-budget","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"609e9ab5-3cc7-4ae2-a082-810ee4b34336","order":"0","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2023\/4\/370.jpg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[585000],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/4\/.bc27311b-daef-4aca-a44b-bdd2838ed9ce.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 says it\u2019s keeping subsidized loans for industry, agriculture + Tensions continue to rise in Jerusalem - 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\/04\/09\/this-evening-govt-says-its-keeping-subsidized-loans-for-industry-agriculture-tensions-continue-to-rise-in-jerusalem\/\" \/>\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 says it\u2019s keeping subsidized loans for industry, agriculture + Tensions continue to rise in Jerusalem\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, friends. We\u2019re still seeing telltale signs of that long-awaited Ramadan news slowdown today, with a relatively calm Sunday to start the week. ** SO, WHEN DO WE EAT? We\u2019ll be breaking our fasts at 6:18pm CLT today. You have until 4:05am tomorrow morning to hydrate and grab a bite to eat. 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The program is set to launch next week, immediately\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/192.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":585040,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/10\/no-interest-rate-hikes-on-soft-loans-to-industry-agriculture-players\/","url_meta":{"origin":585002,"position":1},"title":"No interest rate hikes on soft loans to industry, agriculture players","author":"enterpriseam admin","date":"10 April 2023","format":false,"excerpt":"Subsidized loans will stay at 11% despite the CBE\u2019s rate hike","rel":"","context":"In &quot;Debt&quot;","block_context":{"text":"Debt","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/debt\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/4\/391.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":585656,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/27\/tourism-players-once-again-have-access-to-subsidized-loans\/","url_meta":{"origin":585002,"position":2},"title":"Tourism players once again have access to subsidized loans","author":"enterpriseam admin","date":"27 April 2023","format":false,"excerpt":"The gov\u2019t will offer EGP 10 bn worth of loans at an 11% rate to the industry","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/4\/869.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":580668,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/12\/this-evening-bdc-safi-wataniya-and-others-added-to-sfes-pre-ipo-fund-egp-ends-the-day-slightly-up-against-the-usd\/","url_meta":{"origin":585002,"position":3},"title":"THIS EVENING: BdC, Safi, Wataniya, and others added to SFE\u2019s pre-IPO fund + EGP ends the day slightly up against the USD","author":"enterpriseam admin","date":"12 January 2023","format":false,"excerpt":"Good afternoon, wonderful people. We\u2019ve made it to the end of what proved itself to be quite the eventful week. We hope you all have a restful weekend to unwind.CORRECTION- In this morning\u2019s edition of EnterpriseAM, we incorrectly said Tarek Metwally is currently the deputy managing director of Blom Bank\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\/2023\/1\/647.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":585705,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/27\/this-evening-economy-to-grow-4-0-in-fy-2022-23-before-accelerating-in-the-next-two-fiscal-years-reuters-poll-suggests-dont-forget-to-change-your-clocks-at-midnight\/","url_meta":{"origin":585002,"position":4},"title":"THIS EVENING: Economy to grow 4.0% in FY 2022-23 before accelerating in the next two fiscal years, Reuters poll suggests + Don\u2019t forget to change your clocks at midnight","author":"enterpriseam admin","date":"27 April 2023","format":false,"excerpt":"Good afternoon, ladies and gents, and welcome to the end of this super-short week. 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