{"id":606053,"date":"2023-09-10T00:00:00","date_gmt":"2023-09-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/this-evening-inflation-accelerated-again-in-august-hitting-a-new-all-time-high-plus-welcome-beltone-holding\/"},"modified":"2023-09-10T00:00:00","modified_gmt":"2023-09-10T00:00:00","slug":"this-evening-inflation-accelerated-again-in-august-hitting-a-new-all-time-high-plus-welcome-beltone-holding","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/this-evening-inflation-accelerated-again-in-august-hitting-a-new-all-time-high-plus-welcome-beltone-holding\/","title":{"rendered":"THIS EVENING: Inflation accelerated again in August, hitting a new all-time high. PLUS: Welcome, Beltone Holding"},"content":{"rendered":"

Good afternoon, wonderful people, and welcome to a special issue of EnterprisePM<\/strong>, your essential rundown on the biggest headlines of the day (so far) \u2014 and on where you might spend your time and money tonight. <\/p>\n

We\u2019re honored this afternoon to welcome <\/strong>Beltone Holding<\/a><\/strong> as our newest partner. <\/strong> Longtime readers will know Beltone as a storied financial institution that helped build a world-class investment banking industry here in Egypt. Beltone recently completed a massive EGP 10 bn capital increase on the EGX and, with an all-new team in the C-suite led by CEO Dalia Khorshid, the firm is now looking to build a business with scale across our region and beyond. <\/p>\n

Beltone is an end-to-end financial services player<\/strong>, with brokerage, investment banking, asset management, equity research, and private equity and a complete non-banking financial institution offering leasing, factoring, consumer finance, venture capital, and microfinance. Beltone is \u201cdriven by a vision to redefine the financial ecosystem in the region by capitalizing on global expertise, knowledge and disruptive, value-accretive solutions\u201d that create value for their clients and move forward the market as a whole.<\/p>\n

It is thanks to the support of Beltone and our other partners, including Mashreq, PHD and <\/strong> CIRA Education that Enterprise remains available without charge <\/strong>to hundreds of thousands of readers. We hope you will join us in thanking them all. <\/p>\n

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

Annual urban inflation accelerated to a new all-time high of 37.4% <\/strong> in August,according to data published today by state statistics agency Capmas (pdf)<\/a>. August\u2019s inflation rate came in above the previous record of 36.5% recorded in July<\/a>. On a monthly basis, inflation slowed to 1.6% from 1.9% the month before.<\/p>\n

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COUNTDOWN- There are just 8 days until the Enterprise Finance Forum, which takes <\/strong> place 18-19 September <\/strong>(Monday and Tuesday) at the St. Regis Hotel on the Nile Corniche. This flagship forum is the latest in our must-attend series of invitation-only events, where CEOs, bankers, investors, founders, and corporate leaders will meet to discuss the trends shaping the future of banking, finance, NBFIs, and fintech \u2014 and of their clients.<\/p>\n

You won\u2019t want to miss this one: <\/strong> Join Hassan Allam <\/strong>(CEO, Hassan Allam Holding), Fernando Morillo <\/strong> (group head of retail banking, Mashreq), Galal El Beshbishy <\/strong> (co-founder and COO, Synapse Analytics), Basma Rady <\/strong>(chief data scientist, Beltone Financial), Larry Lerner <\/strong>(partner, McKinsey), Islam Zekry <\/strong>(group CFO, CIB), and many others for talks on everything from the impact of AI and data science on banking, to the coming of digital and challenger banks. <\/p>\n

Tap or click here to view the FULL AGENDA.<\/a><\/strong><\/p>\n

We are honored to count some of the region\u2019s most important financial institutions as <\/strong> our partners for this special event. <\/strong>The Enterprise Finance Forum could not take place without the support of our partners including Banque Misr, Al Baraka Bank, FAB Misr, HSBC, Mashreq, CI Capital, Global Corp, Visa, Hassan Allam Utilities, and the IFC. <\/p>\n

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

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

The conversation in the international business press hasn\u2019t changed much since we last <\/strong> wrote to you this morning: <\/strong><\/p>\n