{"id":603179,"date":"2023-08-14T00:00:00","date_gmt":"2023-08-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/14\/this-evening-egyptian-expats-can-now-subscribe-to-a-usd-pension-plan-in-egypt\/"},"modified":"2023-08-14T00:00:00","modified_gmt":"2023-08-14T00:00:00","slug":"this-evening-egyptian-expats-can-now-subscribe-to-a-usd-pension-plan-in-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/14\/this-evening-egyptian-expats-can-now-subscribe-to-a-usd-pension-plan-in-egypt\/","title":{"rendered":"THIS EVENING: Egyptian expats can now subscribe to a USD pension plan in Egypt"},"content":{"rendered":"

Good afternoon, friends, and happy Monday. <\/strong> We got off to a rather slow start in the news cycle today, but we\u2019re getting the feeling that things will be picking up steam as the day wears on.<\/p>\n

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

Egyptian expats can now buy a USD-denominated pension plan in Egypt <\/strong> through Misr Life Ins. and the National Bank of Egypt <\/strong>, Financial Regulatory Authority boss Mohamed Farid said at a presser today<\/a>. The new offering will allow expats 18-59 living abroad to buy into a pension plan with a monthly USD payment, which can then be redeemed as a lump sum or in monthly payouts over 10-15 years, according to Youm7<\/a>. The minimum and maximum buy-ins for the pension plan have yet to be announced.<\/p>\n

THE BIG STORY ABROAD <\/strong><\/p>\n

Leading the conversation in the international business press this afternoon: The RUB <\/strong> has hit a 17-month low against the USD <\/strong>, slumping to RUB 101 \/ USD 1. The Russian currency has now lost c.30% of its value against the USD this year, making it one of the world\u2019s worst-performing currencies in 2023. The drop has more than undone the RUB\u2019s gains from last year, when oil and gas prices spiked, buoying the country\u2019s revenues from fossil fuel exports before Western countries began imposing sanctions. The story is getting front-page play from Reuters<\/a>, the Wall Street Journal<\/a>, the Financial Times<\/a>, and CNBC<\/a>. <\/p>\n

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

Egypt, Palestine, Jordan to talk Palestinian conflict in Alamein: <\/strong> President Abdel Fattah El Sisi, Palestinian President Mahmoud Abbas, and Jordan\u2019s King Abdullah are set to discuss developments in Palestine during their three-way summit<\/a> in Alamein today, according to an Ittihadiya statement<\/a>. This comes almost seven months after a similar meeting<\/a> in Cairo saw the three parties discussing escalating tensions in the Israeli-Palestinian conflict.<\/p>\n

\n

\n

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