{"id":597655,"date":"2023-08-13T00:00:00","date_gmt":"2023-08-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/13\/palestinian-jordanian-leaders-in-alamein-today-red-sea-oil-spill-averted\/"},"modified":"2023-08-13T00:00:00","modified_gmt":"2023-08-13T00:00:00","slug":"palestinian-jordanian-leaders-in-alamein-today-red-sea-oil-spill-averted","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/13\/palestinian-jordanian-leaders-in-alamein-today-red-sea-oil-spill-averted\/","title":{"rendered":"Palestinian, Jordanian leaders in Alamein today + Red Sea oil spill averted"},"content":{"rendered":"

Good morning, wonderful people, and welcome to a new workweek <\/strong>for those of you not enjoying the last days of summer in Sahel.<\/p>\n

It\u2019s the beginning of the end \u2014 of summer. <\/strong>Kids attending Cairo American College head back to school this week, with new students due in class on Tuesday, 15 August, and returning students the next day. Students at the British International School, Cairo, follow suit on Monday, 28 August. Other international schools go back a bit later: American International School students, for example, are due in their seats by Sunday, 3 September.<\/p>\n

Enjoy the good commute while it lasts: <\/strong>The roads will get crowded once again on Saturday, 30 September, when the new academic year gets underway at state-owned schools.<\/p>\n

THE BIG STORY here at home? <\/strong>That would be the economy, where we have fresh inflation data (up on the same time last year, but down from last month) and tons of opinion from the chattering class to brighten your Sunday morning. <\/p>\n

BUT FIRST, some very, very good news: Red Sea oil spill averted: <\/strong> It\u2019s a wrap on the UN-led salvage operation to remove over 1 mn barrels of crude oil from a rusting supertanker off Yemen at a cost of USD 140 mn, the UN said<\/a> on Friday. The FSO Safer was abandoned off Yemen following the start of the country\u2019s civil war in 2015, and has been at risk of leaking, breaking apart or exploding in what the UN said would have had \u201ccatastrophic environmental and humanitarian consequences.\u201d A UN salvage team has been unloading the oil from the container since late July<\/a>. <\/p>\n

Or 98% averted: <\/strong> Less than 2% remains of the 1.1 mn barrels of oil that were on the tanker. Some USD 20 mn is required to complete the operation, the UN said.<\/p>\n

PSA- You can lower your SPF a notch this week: <\/strong>The sweltering heat is forecast to dip a bit this week, with daytime highs of around 35-37\u00b0C, according to our favorite weather app. You can expect overnight lows hovering around 23\u00b0C. The (slightly) cooler weather comes courtesy of northwest winds that are expected to sweep across northern Egypt to Greater Cairo, according to the Egyptian Meteorological Authority (here<\/a> and here<\/a>).<\/p>\n

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

<\/a> El Sisi x Abbas x King <\/strong> Abdullah <\/strong> : <\/strong> Palestinian President Mahmoud Abbas and Jordan\u2019s King Abdullah are in Alamein today for a three-way summit with President Abdel Fattah El Sisi, according to Palestinian news agency Wafa<\/a>. The three leaders will discuss regional and international issues, it says, without providing further details.<\/p>\n

This is Abbas\u2019 second visit to Alamein this month: <\/strong> The head of the Palestinian Authority joined the leaders of Hamas and other Palestinian factions in the North Coast city earlier this month for a new round of Egypt-sponsored reconciliation talks<\/a>.<\/p>\n

HAPPENING THIS WEEK- <\/strong><\/p>\n

<\/a> The National Dialogue: <\/strong> It\u2019s another week of closed-door meetings at the National Dialogue this week as the dialogue\u2019s rapporteurs work with selected pro-government and opposition figures to finalize recommendations to be presented to President Abdel Fattah El Sisi. <\/p>\n

Investment recommendations in the bag: <\/strong>The dialogue\u2019s investment committee has finalized a number of draft recommendations that include granting more incentives to investors, improving investment legislation, boosting SMEs, and integrating the informal sector into the economy. The president will need to approve the recommendations before they\u2019re sent to the House for discussion.<\/p>\n

<\/a> CBE to hold EUR T-bill auction on Monday: <\/strong>The Central Bank of Egypt (CBE) will auction EUR 600 mn worth of one-year T-bills on 14 August with settlement scheduled for the next day, Reuters<\/a> reports, citing the central bank. This will be the first EUR-denominated T-bill issuance since November, when the central bank sold EUR 699.2 mn worth of one-year bills at a 2.3% yield.<\/p>\n

<\/a> Bidding opens for new industrial land plots on <\/strong> Wednesday <\/strong> : <\/strong>Investors will be able to bid for industrial land from 16 August through to 27 September under a new phase of the Industrial Development Authority\u2019s (IDA) investment map, according to the authority's website<\/a>. Some 1.7 mn sqm of land across 14 governorates will be offered to industrial investors in what is the authority\u2019s first land auction since December<\/a>. The entire bidding process will take place on IDA\u2019s website.<\/p>\n

<\/a> Export subsidy payouts this week: <\/strong> The Finance Ministry will pay out a third batch of<\/a> export subsidies<\/a> under the sixth of the program on Wednesday and Thursday this week. The ministry has so far paid out EGP 8 bn to over 800 companies during the current phase.<\/p>\n

<\/p>\n

THE BIG STORIES ABROAD- <\/strong><\/p>\n

The devastating wildfires in Hawaii are dominating the world\u2019s attention this <\/strong> morning <\/strong> : <\/strong>Some 80 people have lost their lives as a result of the wildfires that swept across Hawaii\u2019s second largest island Maui on Friday. (Associated Press<\/a> | Reuters<\/a> | Bloomberg<\/a> | Wall Street Journal<\/a> | Washington Post<\/a> | New York Times<\/a> | BBC<\/a>)<\/p>\n

The big business news story of the morning: SBF in chains. <\/strong> Sam Bankman-Fried, the disgraced co-founder of the collapsed crypto exchange FTX, will await his fraud trial from behind bars after a judge revoked his bail, saying that he likely tried to tamper with two witnesses. (Bloomberg<\/a> | Financial Times<\/a> | Reuters<\/a> | Wall Street Journal<\/a> | New York Times<\/a>)<\/p>\n

AND- \u201cThe era of cheap streaming is ending.\u201d <\/strong> So says the Financial Times<\/a> in its headline piece this morning, which reports that American streaming services are drawing a line under years of profligate spending and hiking subscription prices to levels akin to cable TV. <\/p>\n

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The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

Subscribe here<\/a>\n <\/div>\n<\/p><\/div>\n<\/div>\n

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CIRCLE YOUR CALENDAR- <\/strong><\/p>\n

The Enterprise Finance Forum is taking place on 18-19 <\/strong> September at the St. Regis Hotel in Cairo. <\/strong> This flagship forum is the latest in our must-attend series of invitation-only, C-suite-level gatherings that allow senior members of our community to openly and frankly discuss critical issues in key sectors of the economy. <\/p>\n

TAP OR CLICK HERE<\/a><\/strong> if you want to express interest in attending. We\u2019ll be sending out the first batch of invitations soon. <\/p>\n

Do you want to become a commercial partner? <\/strong> Ping a note to Moustafa Taalab, our head of commercial<\/a>, or fill out this form<\/a> and we\u2019ll be in touch.<\/p>\n

Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n

LISTEN TO OUR PODCAST- <\/strong><\/p>\n

MISSED OUR PREVIOUS FORUMS? <\/strong>The Enterprise<\/a><\/strong>Podcast has you covered<\/a><\/strong> : <\/strong> The Enterprise Podcast\u2019s forum series has been bringing you audio recordings of what was said on stage at the Enterprise Exports and FDI Forum and Enterprise Climate Forum. <\/p>\n

WANT TO LISTEN? Head to: <\/strong>Apple Podcast<\/a> | Spotify<\/a> | Google Podcast<\/a> | Anghami<\/a>.<\/p>\n

IN THIS WEEK\u2019S EPISODE- It\u2019s the very first panel of the Enterprise Climate Forum: <\/strong> Egypt brought home major victories from COP27, signing framework agreements for about USD 85 bn worth of green hydrogen projects, and announcing more than USD 10 bn in funding for the Nexus for Food, Water and Energy (NWFE) program. While we have a long way to go before much of the wins from COP27 will be tangible to the private sector, the opportunities in green hydrogen and NWFE are \u201cnow.\u201d Our panelists helped explain how these two can be made actionable. We were joined by Jorgo Chatzimarkakis, <\/strong> CEO of Hydrogen Europe, Khalid Hamza, <\/strong> Director and head of Egypt at the European Bank for Reconstruction and Development, and Khaled Naguib, <\/strong> CEO of Hydrogen Egypt.<\/p>\n","protected":false},"excerpt":{"rendered":"

The UN has been working to unload a decaying supertanker stranded off the coast of Yemen since last month<\/p>\n","protected":false},"author":1,"featured_media":597656,"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":[96,168,6531,6530,72,3415,511,6984,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-597655","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-abdel-fattah-el-sisi","tag-diplomacy","tag-egypt-jordan-relations","tag-egypt-palestine-relations","tag-enterpriseam","tag-king-abdullah-ii","tag-mahmoud-abbas","tag-middle-east-politics","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"be047636-d5af-4b67-a12a-db2f1031b7e2","order":"0","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2023\/8\/570.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Palestinian, Jordanian leaders in Alamein + Red Sea oil spill averted","related_issue":[597653],"teaser":"The UN has been working to unload a decaying supertanker stranded off the coast of Yemen since last month","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/8\/.72edfa72-00f9-48ed-874d-770660d99738.mp3"},"yoast_head":"\nPalestinian, Jordanian leaders in Alamein today + Red Sea oil spill averted - 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That change in the air? It\u2019s the beginning of the end of summer. Families are starting to gear up to send their kids back to school. Corporate chieftains, meanwhile, contemplate the idea that they have only about four months left to make their budget for the\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":627255,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/26\/what-were-tracking-this-week-and-beyond-123\/","url_meta":{"origin":597655,"position":1},"title":"What we\u2019re tracking this week and beyond","author":"enterpriseam admin","date":"26 July 2018","format":false,"excerpt":"Foreign Minister Sameh Shoukry is expected to land in Washington during the first week of August to meet with US Secretary of State Mike Pompeo over developments in the Middle East and US-Egypt relations.Egypt is set to select the board of directors for its EGP 200 bn sovereign wealth fund\u2026","rel":"","context":"In "Up Next"","block_context":{"text":"Up Next","link":"https:\/\/enterpriseam.com\/egypt\/category\/up-next\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":627201,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/25\/what-were-tracking-this-week-and-beyond-122\/","url_meta":{"origin":597655,"position":2},"title":"What we\u2019re tracking this week and beyond","author":"enterpriseam admin","date":"25 July 2018","format":false,"excerpt":"Foreign Minister Sameh Shoukry is set to visit Washington during the first week of August to meet with US Secretary of State Mike Pompeo, according to a ministry statement. Shoukry and Pompeo are expected to hold talks on developments in the Middle East and US-Egypt relations.Egypt is set to select\u2026","rel":"","context":"In "Up Next"","block_context":{"text":"Up Next","link":"https:\/\/enterpriseam.com\/egypt\/category\/up-next\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":548625,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/16\/this-morning-cbe-odds-on-to-hike-rates-this-thursday-kenya-has-a-new-president\/","url_meta":{"origin":597655,"position":3},"title":"THIS MORNING: CBE odds-on to hike rates this Thursday + Kenya has a new president","author":"enterpriseam admin","date":"16 August 2022","format":false,"excerpt":"Good morning, friends, and welcome to a big news morning. There\u2019s plenty of good news today, including the first tentative sign of renewed foreign appetite for Egyptian debt and another boost to our regional energy hub ambitions (from The Company Formerly Known As Delek and a compatriot).Also notable: Six of\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":557184,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/09\/this-morning-inflation-data-lands-today-israeli-pm-to-visit-cairo-next-week-bill-gates-takes-control-of-four-seasons\/","url_meta":{"origin":597655,"position":4},"title":"THIS MORNING: Inflation data lands today; Israeli PM to visit Cairo next week? Bill Gates takes control of Four Seasons.","author":"enterpriseam admin","date":"9 September 2021","format":false,"excerpt":"Good morning ladies and gents \u2014 we have a jam-packed issue for you to close out the week so let\u2019s jump into it.WHAT\u2019S HAPPENING TODAY- Inflation data lands today: The Central Bank of Egypt will publish inflation figures for August this morning. Price growth has crept up over the past\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":558531,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/16\/this-morning-prepping-for-the-2021-2022-school-year-in-egypt-the-fall-of-afghanistan-is-one-of-those-once-in-a-generation-foreign-affairs-stories\/","url_meta":{"origin":597655,"position":5},"title":"THIS MORNING: Prepping for the 2021-2022 school year in Egypt + the fall of Afghanistan is one of those once-in-a-generation foreign affairs stories","author":"enterpriseam admin","date":"16 August 2021","format":false,"excerpt":"Good morning, wonderful people, and welcome to a surprisingly brisk morning. Mondays in mid-August are usually slow news days on par with the late-December news slowdown, but \u2026 let\u2019s just say we live in interesting times, shall we?Let\u2019s start with some very welcome news: The EGX extended its gains to\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/597655","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=597655"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/597655\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/597653"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/597656"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=597655"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=597655"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=597655"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=597655"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=597655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}