{"id":585925,"date":"2023-05-02T00:00:00","date_gmt":"2023-05-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/net-foreign-liabilities-hit-fresh-record-high-in-march-plus-its-decision-day-for-pachin-shareholders\/"},"modified":"2023-05-02T00:00:00","modified_gmt":"2023-05-02T00:00:00","slug":"net-foreign-liabilities-hit-fresh-record-high-in-march-plus-its-decision-day-for-pachin-shareholders","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/02\/net-foreign-liabilities-hit-fresh-record-high-in-march-plus-its-decision-day-for-pachin-shareholders\/","title":{"rendered":"Net foreign liabilities hit fresh record high in March. PLUS: It\u2019s decision day for Pachin shareholders"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><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:700\">Good morning, friends, and welcome to a very busy news day<\/span><span>, with news on everything from privatization and infrastructure investment to the FX crunch and the ongoing competition to see who will take control of paintmaker Pachin. <\/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;\">HAPPENING TODAY-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <a id=\"wwtt2\"><\/a> <\/span><span style=\"font-weight:700\">#1- It\u2019s deadline day for Pachin shareholders:<\/span><span style=\"\"> Shareholders in <\/span><span>EGX-listed paints company Pachin have until the end of today\u2019s trading session to decide whether to sell <\/span><span style=\"font-weight:400;\">their shares to National Paints Holding (NPH) or Eagle Chemicals.<\/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 offers:<\/span><span> In an <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/79e85a7d-b197-43f6-9148-05543ccf0442\" style=\"\">ongoing mandatory tender offer<\/a><\/span><span>, Dubai-based NPH is offering <\/span><span style=\"font-weight:700\">EGP 39.80 per share<\/span><span> and Eagle Chemicals is offering <\/span><span style=\"font-weight:700\">EGP 39.00<\/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\">The state of play:<\/span><span> As of last night, shareholders owning around 30% of the company \u2014 representing 7.28 mn shares \u2014 had agreed to sell their shares to NPH, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/hapijournal.com\/?p=233707\" style=\"\">Hapi Journal<\/a><\/span><span style=\"font-weight:400;\">. None of the shareholders have responded to Eagle\u2019s offer, according to the newspaper.<\/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\">Remember:<\/span><span style=\"font-weight:400;\"> NPH or Eagle Chemicals need to acquire at least 75% of the company for the MTO to go through.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><a id=\"wwtt1\"><\/a> <\/span><span style=\"font-weight:700\">#2- The African Private Equity and Venture Capital Association\u2019s <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/www.avcaconference.com\/\" style=\"\">annual summit<\/a><\/span><span style=\"font-weight:700\">:<\/span><span style=\"font-weight:400;\">AVCA\u2019s annual get-together and VC summit continues at the Four Seasons Nile Plaza today. Billing itself as the world\u2019s largest Africa-focused private capital gathering, the five-day summit is bringing together investors with more than USD 1.5 tn in assets under management.  Multilateral lenders and policymakers are also attending.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><a id=\"wwtt4\"><\/a> <\/span><span style=\"font-weight:700\">#3- It\u2019s Fed week: <\/span><span style=\"\">The US Federal Reserve will hold its two-day policy meeting on <\/span><span>Tuesday and Wednesday \u2014 and signs point to a 25-bps interest rate hike as the Fed works to contain <\/span><span>soaring inflation, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-04-30\/fed-meeting-preview-powell-faces-rate-hike-decision-amid-sticky-us-inflation?srnd=premium-middle-east&leadSource=uverify%20wall\" style=\"\">Bloomberg<\/a><\/span><span style=\"font-weight:400;\">. A 25-bps hike will push the fed funds rate to 5-5.25% \u2014 the highest level since 2007 \u2014 and would be the tenth consecutive hike by the central bank since it started aggressively tightening policy to curb inflation last year. <\/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\">USD direction hinges on Fed\u2019s policy outlook:<\/span><span style=\"\"> Hedge funds and investors wager <\/span><span>that the greenback will erase all of the gains made last year as the Fed winds down its tightening cycle, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-05-01\/hedge-funds-bet-dollar-to-erase-hike-cycle-gains-as-fed-peaks#xj4y7vzkg\" style=\"\">the business information service writes<\/a><\/span><span>. Traders widely expect the central bank to hike for the final time this week, before holding rates and starting to lower them towards the end of the year. Meanwhile, the <\/span><span style=\"font-weight:700\">UK and European central banks will continue their hawkish stances in the coming months<\/span><span style=\"font-weight:400;\">, putting more pressure on the USD against major currencies.<\/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- Thursday is a national holiday <\/span><span style=\"font-weight:400;\">in observance of Labor Day. <\/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\">IN THE HOUSE TODAY<\/span><span style=\"font-weight:700\">-<\/span><span style=\"\"> Religious Endowments Minister Mohamed Mokhtar <\/span><span>Gomaa will answer questions from MPs on the ministry\u2019s role in reforming religious discourse and improving the finances of mosque clerics. <\/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 committee:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">The Economic Affairs Committee <\/span><span>will review the Egyptian Competition Authority\u2019s role in shielding consumers from <\/span><span style=\"font-weight:700\">price gauging<\/span><span style=\"font-weight:400;\"> by retailers and others sellers amid the FX crunch.<\/span><\/li>\n<li><span style=\"font-weight:700\">The SMEs Committee <\/span><span>will discuss measures taken by the Industrial Development Authority (IDA) to simplify <\/span><span style=\"font-weight:700\">licensing procedures for manufacturers<\/span><span style=\"font-weight:400;\">. MPs also think that 13 industrial complexes failed to deliver on the IDA\u2019s plans for 2023.<\/span><\/li>\n<li><span style=\"font-weight:700\">The Industrial Committee <\/span><span>will look into issues facing investors at industrial zones in <\/span><span style=\"font-weight:700\">Minya and Borg Al Arab<\/span><span style=\"font-weight:400;\">.<\/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;\">FX WATCH-<\/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\">Net foreign liabilities hit a fresh high in March:<\/span><span style=\"\"> Our net foreign <\/span><span>assets position deteriorated again in March, falling to negative USD 24.5 bn from <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0a4f3b0b-8509-4ae7-a187-137f5f5b5a75\" style=\"\">USD 23 bn in February<\/a><\/span><span>, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/5\/36.png\" style=\"\">central bank figures<\/a><\/span><span>, EFG Hermes said in a note to clients yesterday<\/span><span style=\"font-weight:400;\">. Though central bank liabilities improved slightly during the month, net foreign assets were weighed down by the banking system, which saw liabilities widen to a record USD 15.5 bn on the back of a reduction of foreign assets.<\/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\">CBE to consult staff:<\/span><span style=\"\"> Net foreign liabilities have now grown by more than USD 3.8 bn over the <\/span><span>past three months. The central bank is now expected to consult with IMF staff under our latest<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/5\/84.pdf\" style=\"\">agreement (pdf)<\/a><\/span><span> w<\/span><span>ith the IMF<\/span><span style=\"font-weight:400;\">, which says that the CBE will discuss NFAs if they fall by USD 2 bn or more in a three-month period (see page 11, pdf).<\/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\">MEANWHILE- A successful t-bill auction:<\/span><span style=\"\"> The central bank sold more than USD 1.0 bn of <\/span><span>USD-denominated one-year treasury bills to investors yesterday at an average yield of 4.9%, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/5\/56.jpg\" style=\"\">central bank figures<\/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=\"\"><a id=\"wwtt3\"><\/a> <\/span><span style=\"font-weight:700\">AND- Oil Ministry extends oil + gas tender until June:<\/span><span style=\"\"> The Oil Ministry has extended <\/span><span>its tender for <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2b0c7d75-f265-4f8c-bb07-2c09bdc2d9d7\" style=\"\">12 exploration blocks<\/a><\/span><span> in the Mediterranean and Nile Delta until the beginning of June, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3AOKrTv\" style=\"\">Al Mal<\/a><\/span><span style=\"font-weight:400;\">reported yesterday, citing an unnamed government source. The tender was originally set to conclude on 30 April, but was extended to give companies more time to study the blocks offered. The tender includes six onshore blocks and six offshore blocks. <\/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;\">HAPPENING THIS 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\">National Dialogue kicks off:<\/span><span style=\"\"> The National Dialogue will hold its first session on Wednesday. <\/span><span style=\"font-weight:400;\">The dialogue was initially set to kick off in January but was postponed after the political parties failed to name their representatives to the sessions on time. <\/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<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;\">THE BIG STORIES 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\">US banks continue to face pressure following seizure of First Republic: <\/span><span style=\"\">An index of <\/span><span>regional US banks fell almost<\/span><span> 3%<\/span><span> during trading yesterday following the collapse of First Republic Bank. JPMorgan <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2bfe9299-9bcf-4aba-9a0e-4e811260f6e3\" style=\"\">agreed to acquire<\/a><\/span><span> most of the troubled lender on Monday while the rest will be taken over by the Federal Deposit Insurance Corporation \u2014 an arrangement that makes the bank the fourth victim of the recent banking crisis. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/business\/finance\/first-republic-collapse-sparks-sector-wide-regional-bank-shares-sell-off-2023-05-01\/\" style=\"\">Reuters<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/0c61a540-e6be-4bca-8054-841d9983756b\" style=\"\">FT<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cnbc.com\/2023\/05\/01\/the-first-republic-deal-has-come-at-a-crucial-point-for-the-markets-and-economy.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:700\">ALSO RECEIVING ATTENTION- The game of chicken over the debt ceiling:<\/span><span style=\"\"> US Treasury <\/span><span>Secretary Janet Yellen has again <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/home.treasury.gov\/news\/press-releases\/jy1454\" style=\"\">urged Congress<\/a><\/span><span> to raise or suspend the debt ceiling before 1 June or the country will face the risk of defaulting on its financial obligations. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wsj.com\/articles\/treasury-secretary-janet-yellen-says-u-s-could-default-as-soon-as-june-1-without-a-debt-ceiling-increase-6714ed7c\" style=\"\">Wall Street Journal<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.washingtonpost.com\/business\/2023\/05\/01\/congress-debt-limit-deadline-biden-mccarthy\/\" style=\"\">Washington Post<\/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:700;\"><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\/5\/50.jpg?ssl=1\"\/><\/a><\/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 Enterprise Expo<\/span><span style=\"font-weight:700\">rts & FDI Forum, our latest industry-specific conference, is taking <\/span><span style=\"font-weight:700\">place on Monday, 15 May <\/span><span style=\"font-weight:400;\">at the Four Seasons Cairo Nile Plaza 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<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Expect the gathering to be heavy on lessons learned in Egypt and other global growth markets \u2014 and to feature lots of success stories.<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/exportsfdi.enterprise.press\/index.html#aboutSection\" style=\"\">You can learn more on our conference website here<\/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\">Some of the biggest names in business and finance are on board \u2014 are you?<\/span><span style=\"font-weight:400;\"> The Enterprise Exports and FDI Forum is taking place with the generous support of our friends, including:<\/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\">Banking partners:<\/span><span style=\"font-weight:400;\"> Banque Misr | Al Baraka Bank | Emirates NBD | HSBC <\/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\">Lead partners:<\/span><span style=\"font-weight:400;\"> DB Schenker | DP World | East Port Said Development | IDG | IFC | Madinat Masr<\/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\">Event partners: <\/span><span>Beyti | Concrete |<\/span><span> GlobalCor<\/span><span>p | Grant Thornton | Hassan Allam Utilities | <\/span><span>Royal Ceramica<\/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<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">HAVEN\u2019T REQUESTED AN INVITE YET?<\/span><span> If you\u2019re a C-suite exec, business owner, DFI staff, export executive, investor or banker, please <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/exportsfdi.enterprise.press\/registration.html\" style=\"\">fill out the form here<\/a><\/span><span style=\"font-weight:400;\"> to signal your interest, letting us know your name, title and where you work.<\/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;\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/enterprise.press\/wp-content\/uploads\/2021\/03\/INFINITY-Top-banner-EN-1600x675-v2-02.png\"\/><\/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 Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/span><span> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Commercial banks weigh on Egypt\u2019s NFA position<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[7204],"tags":[6483,104,72,7128,9179,6816,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-585925","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-eagle-chemicals","tag-economy","tag-enterpriseam","tag-ma-watch","tag-national-paints-holding","tag-pachin","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"67d4af51-b815-4737-a38f-d1ae6561bd1d","order":"0","is_powered_by":false,"story_type":"4","photo_url":"","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s net foreign liabilities hit fresh record high in March","related_issue":[585923],"teaser":"Commercial banks weigh on Egypt\u2019s NFA position","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.247db76b-e289-424a-af72-0a6c0619a156.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>Net foreign liabilities hit fresh record high in March. PLUS: It\u2019s decision day for Pachin shareholders - 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\/05\/02\/net-foreign-liabilities-hit-fresh-record-high-in-march-plus-its-decision-day-for-pachin-shareholders\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Net foreign liabilities hit fresh record high in March. 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It\u2019s slow moving so far on the home front, with regional updates broadly driving the news cycle.**PSA- Some of our favorite homegrown businesses are doing their part to support the Palestinian cause: Osana in Maadi is donating\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\/paint_vintage-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":585119,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/11\/nph-goes-again\/","url_meta":{"origin":585925,"position":5},"title":"NPH goes again","author":"enterpriseam admin","date":"11 April 2023","format":false,"excerpt":"Pachin is now valued at more than EGP 955 mn","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\/2023\/4\/438.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/585925","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=585925"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/585925\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/585923"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=585925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=585925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=585925"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=585925"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=585925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}