{"id":585114,"date":"2023-04-11T00:00:00","date_gmt":"2023-04-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/11\/this-morning-shoukry-in-athens-then-ankara-red-devils-clinch-the-egypt-cup\/"},"modified":"2023-04-11T00:00:00","modified_gmt":"2023-04-11T00:00:00","slug":"this-morning-shoukry-in-athens-then-ankara-red-devils-clinch-the-egypt-cup","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/11\/this-morning-shoukry-in-athens-then-ankara-red-devils-clinch-the-egypt-cup\/","title":{"rendered":"THIS MORNING: Shoukry in Athens \u2014 then Ankara? + Red Devils clinch the Egypt Cup"},"content":{"rendered":"

Good morning, wonderful people, and a very happy Tuesday. <\/span>We\u2019re halfway through the last full work week in Ramadan \u2014 and looking forward to the coming streak of holidays as the news flow picks up pace again. <\/span><\/p>\n

<\/a> <\/span>PSA #1- The Eid holiday schedule is confirmed:<\/span> Public sector workers will be off from <\/span>Thursday, 20 <\/span>April until Tuesday, 25 April <\/span>in observance of Sinai Liberation Day and Eid El Fitr, cabinet said in a <\/span>statement<\/a><\/span>. Expect <\/span>the<\/span> Manpower Ministry, central bank, and the EGX to follow up with their own announcements in the coming days.<\/span><\/p>\n

We have a couple holidays coming up before that: <\/span>Banks<\/a><\/span> and the <\/span>EGX<\/a><\/span> will be off next <\/span>Sunday, 16 April <\/span>to mark Coptic Easter (the day is not a public holiday), and <\/span>we\u2019re all off<\/a><\/span> next <\/span>Monday, 17 April <\/span>off to mark Sham El Nessim. <\/span><\/p>\n

PSA #2- <\/span>We\u2019re bringing back daylight saving time (yet again) on Friday, 28 April. <\/span>You\u2019ll be losing an hour\u2019s sleep as clocks jump forward one hour until the final Thursday of October. <\/span><\/p>\n

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THE BIG STORY TODAY- Inflation hit a near all-time record of 32.7% in March<\/span> as the EGP <\/span>devaluation and a shortage of foreign currency continue to pressure prices. Get the full story in the news well, below<\/span><\/p>\n

There\u2019s also interesting news on the regional diplomacy front:<\/span> Turkey\u2019s top diplomat says <\/span>Egyptian Foreign Minister Sameh Shoukry will head to Ankara later this week \u2014 with potential \u201cconcrete steps\u201d to reappoint ambassadors on the table. Shoukry is already in the neighborhood after touching down in Athens today for bilateral talks. Scroll on for the details. <\/span><\/p>\n

<\/a> <\/span>AND- Al Ahly was crowned Egypt Cup champion yesterday <\/span>after <\/span>beating Pyramids<\/a><\/span>2-1<\/a><\/span> in the final. Pyramids took the lead in the 72nd minute with a header from Walid El Karti \u2014 but their hopes of wresting the Egypt Cup from the nine-season-long dominance of Ahly and Zamalek were scuppered when Mahmoud Abdel-Moneim scored an equalizer just two minutes later. Ahly\u2019s Hamdy Fathy sealed the deal with a goal in extra time. This <\/span>marks the 38th time<\/a><\/span> Ahly snags the title. <\/span><\/p>\n

** SO, WHEN<\/span> DO WE EAT? <\/span>We\u2019ll be breaking our fasts at 6:19pm CLT today. You have until <\/span>4:03am tomorrow morning to hydrate and grab a bite to eat. <\/span><\/p>\n

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The Enterprise Exports & FDI Forum, our latest industry-specific conference, is taking <\/span>place on Monday, 15 May at Four Seasons, Nile Plaza.<\/span> The Enterprise Exports & FDI Forum will give insiders and newcomers alike the chance to talk about how to develop an export-centered business and how their companies can help us build an export-led economy that makes us a magnet for foreign direct investment (FDI).<\/span><\/p>\n

What\u2019s the Enterprise Exports & FDI Forum?<\/span> In the wake of successive floats of EGP, exports and FDI have never been more important to our economy \u2014 or our businesses. We\u2019re gathering some of the CEOs, top execs from local companies and multinationals, investors, bankers and finance folks to speak on how businesses can adapt their strategies to be export-oriented and what we as a country can do to draw foreign investment and much-needed FX. <\/span>Expect it to be heavy on lessons learned in Egypt and other global growth markets \u2014 and lots of success stories.<\/span>You can learn more on our conference website here<\/a><\/span>.<\/span><\/p>\n

Some of the biggest names in business and finance are on board \u2014 are you?<\/span> If you\u2019re a C-suite exec, business owner, DFI staff, export executive, investor or banker, please fill out the form here to signal your interest, letting us know your name, title and where you work.<\/span><\/p>\n

WANT TO BECOME A COMMERCIAL PARTNER?<\/span> Ping a note to <\/span>Moustafa, our head of commercial, here<\/a><\/span>.<\/span><\/p>\n

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THE REALIGNMENT-<\/span><\/p>\n

<\/span><\/a><\/span>Shoukry to head to Turkey: <\/span>Foreign Minister Sameh Shoukry will likely visit Turkey <\/span>later this week, taking steps towards fully restoring ties between the two sides, Turkish Foreign Minister Mevlut Cavusoglu told Turkish TV yesterday. <\/span><\/p>\n

Normalization imminent?<\/span> \u201cIt is time to take concrete steps,\" he said. \"During Shoukry's visit, we can take steps to appoint ambassadors,\u201d he said, adding that President Abdel Fattah El Sisi and his Turkish counterpart Recep Tayyip Erdogan could hold a meeting following the Turkish elections scheduled for 14 May. <\/span><\/p>\n

REMEMBER- Relations with Turkey are thawing: <\/span>The two country\u2019s top diplomats pledged to put aside their differences and normalize relations during talks in Cairo last month, after Shoukry became the <\/span>first senior Egyptian diplomat to visit Turkey<\/a><\/span> in over a decade in February. <\/span><\/p>\n

The news is receiving wide coverage: <\/span>Reuters<\/a><\/span> | <\/span>Al Monitor<\/a><\/span> | <\/span>The National<\/a><\/span>. <\/span><\/p>\n

BUT FIRST- Shoukry is in Athens today<\/span> for talks <\/span>with Greek Prime Minister Kyriakos Mitsotakis and Foreign Minister Nikos Dendias, according to a Foreign Ministry <\/span>statement<\/a><\/span>. Shoukry will also meet with Copelouzos Group CEO Dimitris Copelouzos to follow up on the progress of the <\/span>3-GW Greece-Egypt Interconnector (GREGY)<\/a><\/span> project, for which Copelouzos is the lead contractor. <\/span><\/p>\n

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

<\/a> <\/span>Rania Al Mashat is in Washington for the IMF \/ World Bank Spring Meetings:<\/span>International Cooperation Minister Rania Al Mashat <\/span>is in Washington, DC, this week for the IMF \/ World Bank Spring meetings. <\/span>Al Mashat is scheduled to participate in a number of talks, including the meetings of the Group of 24 as well as the World Bank Group\u2019s <\/span>Development Committee<\/a><\/span> and <\/span>Human Capital Project<\/a><\/span>, a<\/span>ccording to a <\/span>ministry statement<\/a><\/span>. She will also hold bilateral discussions with partners including the US government, European Investment Bank, the European Bank for Reconstruction and Development, <\/span>the International Finance Corporation, <\/span>and the Rockefeller Foundation. The event kicked off yesterday and runs until 16 April.<\/span><\/p>\n

** The IMF will be out with its latest global growth forecasts when it publishes its World <\/span>Economic Outlook in full this afternoon.<\/span><\/p>\n

<\/a><\/span>The House reconvenes:<\/span>MPs will discuss and vote <\/span>on two proposed amendments: <\/span><\/p>\n