{"id":606691,"date":"2023-09-20T00:00:00","date_gmt":"2023-09-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/20\/happening-today-cityscape-expo-opens-an-election-press-conference-the-fed-meeting\/"},"modified":"2023-09-20T00:00:00","modified_gmt":"2023-09-20T00:00:00","slug":"happening-today-cityscape-expo-opens-an-election-press-conference-the-fed-meeting","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/20\/happening-today-cityscape-expo-opens-an-election-press-conference-the-fed-meeting\/","title":{"rendered":"Happening today: Cityscape expo opens, an election press conference + the Fed meeting"},"content":{"rendered":"

Good morning, wonderful people. <\/strong>We have a ton of M&A and investment news for you this morning, from word that a unit of Sauid\u2019s PIF is upping its stake in fintech giant e-finance to talk that Mohamed Alabbar\u2019s Eagle Hills is looking at buying a local real estate developer. <\/p>\n

^^ We have the rundown on those stories and more in What We\u2019re Tracking Today and in this morning\u2019s news well, both below.<\/p>\n

IT\u2019S A WRAP on our inaugural Enterprise Finance Forum. <\/strong>We welcomed more than 900 senior bankers, finance industry players, corporate leaders and other members of our community over the two days. All of us here at Enterprise are deeply grateful to the three groups of people who made it all possible: The fantastic leaders who joined us on stage, the sponsors and partners who made it possible, and every one of you who joined us in person at the St Regis Cairo on the Nile Corniche. <\/p>\n

Did you miss the forum? <\/strong>EnterpriseAM will have coverage of every panel starting on Sunday. Our podcast team was also on hand to capture every session \u2014 each will be an episode dropping into The Enterprise Show feed on your favorite podcast player. You can catch panels from our past conferences in our feed here: Apple<\/a> | Spotify<\/a>.<\/p>\n

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M&A RUMOR #1- <\/strong> Eagle Hills eyes unnamed state-owned real estate developer? <\/strong> Emirati real estate tycoon Mohamed Alabbar\u2019s Eagle Hills is reportedly in talks with the Sovereign Fund of Egypt (SFE) to acquire an undisclosed real estate developer, according to Al Borsa<\/a>, citing unnamed sources. The talks are still in early stages, with no offers made so far, the sources added. <\/p>\n

Remember: <\/strong> Eagle Hills is looking to expand its Egypt footprint, reportedly bidding for contracts<\/a> to redevelop state-owned property in downtown Cairo and moving forward with a new luxury residential development<\/a> on the North Coast.<\/p>\n

M&A RUMOR #2- <\/strong> CI Capital isn\u2019t getting bought out: <\/strong>CI Capital has denied an EGX filing (pdf)<\/a> rumorscirculating the market that it was the target of an acquisition bid by an Emirati investor.<\/p>\n

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

<\/a> #1- The three-day <\/strong>Cityscape real estate expo<\/a><\/strong> opens <\/strong> at the Egypt International Exhibition Center today. <\/p>\n

<\/a> #2- <\/strong> DMZ <\/strong> Cairo to kick off its annual demo day this evening <\/strong>at Wust el Balad\u2019s Founders<\/a> Spaces<\/a>. Entrepreneurs from the University of Canada in Egypt-backed tech incubator's<\/a> Incubator Cycle 2 program and Fintech Bootcamp will take to the stage with their pitches.<\/p>\n

<\/a> #3- Election presser: <\/strong> We\u2019re expecting the National Elections Authority (NEA) to lay out the timetable for the upcoming presidential election cycle when it holds a press conference today. <\/p>\n

FYI <\/strong> - <\/strong> The electoral process must begin no later than December, 120 days before the end of the current term on 2 April, 2024. The Big Question on everyone\u2019s minds: Will we see the timeline advanced so that we go to the polls in December? <\/strong><\/p>\n

<\/a> #4- It\u2019s Fed day : <\/strong> Expect the Federal Reserve to leave rates unchanged<\/a> when it concludes its policy meeting this evening.<\/p>\n

#5- <\/strong> It\u2019s day 2 of the UN general debate: <\/strong> The leaders of Lebanon, Libya, Italy, Spain and Korea are among those who will give statements to the UN General Assembly<\/a> today. <\/p>\n

Shoukry is in the Big Apple: <\/strong><\/p>\n