{"id":585437,"date":"2023-04-18T00:00:00","date_gmt":"2023-04-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/18\/this-evening-zohr-gas-output-slumped-in-2022-ceasefire-in-sudan\/"},"modified":"2023-04-18T00:00:00","modified_gmt":"2023-04-18T00:00:00","slug":"this-evening-zohr-gas-output-slumped-in-2022-ceasefire-in-sudan","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/18\/this-evening-zohr-gas-output-slumped-in-2022-ceasefire-in-sudan\/","title":{"rendered":"THIS EVENING: Zohr gas output slumped in 2022 + Ceasefire in Sudan?"},"content":{"rendered":"

Good afternoon, wonderful people.<\/span> We\u2019re getting back in the groove of work after a<\/span> much-needed long weekend \u2014 but we can\u2019t help but look forward to the upcoming long(er) weekend. <\/span><\/p>\n

The EGX will be closed from this Thursday, 20 April through to next Tuesday, 25 April<\/span> in<\/span> observance of Eid El Fitr and Sinai Liberation Day, the bourse <\/span>confirmed in a news bulletin<\/a><\/span> today. The announcement comes after the CBE and the Manpower Ministry last week announced that the private and banking sectors will be taking those same days off.<\/span><\/p>\n

** SO, WHEN DO WE EAT?<\/span> We\u2019ll be breaking our fasts at 6:24pm CLT today. You have until <\/span>3:53am tomorrow morning to hydrate and grab a bite to eat.<\/span><\/p>\n

<\/a><\/p>\n

The Enterprise Exports & FDI Forum, our latest industry-specific conference, is taking <\/span>place on Monday, 15 May.<\/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 Egypt build an export-led economy that makes us a magnet for foreign direct investment (FDI).<\/span><\/p>\n

Why exports & FDI?<\/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 Egypt 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

And what better place to discuss moving our goods than Egypt\u2019s original logistics zone \u2014 the Nile. <\/span>That\u2019s why we\u2019re looking forward to holding the event by the river\u2019s vistas <\/span>at the Four Seasons, Nile Plaza. <\/span><\/p>\n

Some of the biggest names in business and finance are on board \u2014 are you?<\/span> The Enterprise Exports and FDI Forum is taking place with the generous support of our friends, including:<\/span><\/p>\n

Banking partners:<\/span> Banque Misr | Al Baraka Bank | Emirates NBD | HSBC <\/span><\/p>\n

Lead partners:<\/span> DB Schenker | DP World | East Port Said Development | IDG | IFC | Madinat Masr<\/span><\/p>\n

Event partners: <\/span>Beyti | Concrete | Global Corp | Grant Thornton | Hassan Allam Utilities <\/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

HAVEN\u2019T REQUESTED AN INVITE YET?<\/span> If you\u2019re a C-suite exec, business owner, DFI staff, export executive, investor or banker, please <\/span>fill out the form here<\/a><\/span> to signal your interest, letting us know your name, title and where you work.<\/span><\/p>\n

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THE BIG STORY TODAY<\/span><\/p>\n

<\/span>Zohr gas output slumps in 2022:<\/span> Gas output from Eni\u2019s giant Zohr gas field dropped <\/span>11% y-o-y to 2.5 bn cfd in 2022, <\/span>Mees<\/a><\/span> reports. The diminished output from the Italian firm\u2019s flagship field, which is 6% below the output cap set on the field in 2021 and 23% short of the field\u2019s total production capacity, comes on the back of water breakthrough difficulties.<\/span><\/p>\n

THE BIG STORIES ABROAD<\/span><\/p>\n

<\/span>#1- Ceasefire in Sudan?<\/span> The Sudanese army and Rapid Support Forces (RSF)<\/span> have agreed to a 24-hour ceasefire as of this evening, Army General Shams El Din Kabashy told <\/span>Al Arabiya<\/a><\/span>. The ceasefire comes after <\/span>US Secretary of State Anthony Blinken<\/a><\/span> urged calm and several countries in the region, including Egypt, worked to mediate between the two sides. <\/span><\/p>\n

RSF-associated fighters attacked a convoy of US diplomats in Sudan<\/span>, Blinken said, although nobody was harmed in the \u201creckless\u201d incident. <\/span><\/p>\n

Meanwhile, EgyptAir flights to Khartoum remain suspended: <\/span>The national carrier has<\/span>informed<\/a><\/span>its customers that the suspension will be effective until further notice due to security instability.<\/span><\/p>\n

#2- Putin in Ukraine: <\/span>Russian President Vladmir Putin visited Russian-held territories in<\/span> Ukraine yesterday. He stopped by the command post for the Russian forces in the Kherson region and the headquarters of the Russian National Guard in the Luhansk area to congratulate the military on Orthodox Easter and gift them with icons. The visit comes amidst Ukraine\u2019s preparation for a new counteroffensive to redeem occupied territories.This marks his second trip, following his visit last month to the Crimea region and the city of Mauripol. (<\/span>AP<\/a><\/span> | <\/span>Reuters<\/a><\/span> | <\/span>Financial Times<\/a><\/span> | <\/span>Bloomberg<\/a><\/span> | <\/span>WSJ<\/a><\/span>)<\/span><\/p>\n

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** CATCH UP QUICK<\/span> on the top stories from today\u2019s <\/span>EnterpriseAM<\/span>:<\/span><\/p>\n