{"id":609475,"date":"2023-11-06T00:00:00","date_gmt":"2023-11-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/06\/daily-blackouts-may-be-reduced-to-one-hour-on-the-back-off-increased-mazut-and-gas-imports\/"},"modified":"2023-11-06T00:00:00","modified_gmt":"2023-11-06T00:00:00","slug":"daily-blackouts-may-be-reduced-to-one-hour-on-the-back-off-increased-mazut-and-gas-imports","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/06\/daily-blackouts-may-be-reduced-to-one-hour-on-the-back-off-increased-mazut-and-gas-imports\/","title":{"rendered":"Daily blackouts may be reduced to one hour on the back off increased mazut and gas imports"},"content":{"rendered":"

Good morning, wonderful people. <\/strong>We have a couple of pieces of good news with which to kick off this morning\u2019s issue. <\/p>\n

<\/a> UP FIRST- The government is going to invite private-sector players to manage the nation\u2019s airports<\/strong>,Prime Minister Moustafa Madbouly said during a meeting<\/a> on the sidelines of a transport conference in Cairo yesterday. The government is also looking to launch tenders for the operation and management of seaports, dry ports, and public transport lines, the PM said. <\/p>\n

Foreigners welcome: <\/strong>The PM said the Transport Ministry will lead on the marketing of private management contracts to private-sector players with proven international experience \u2014 and played up Egypt\u2019s role as a natural local logistics hub, according to a cabinet statement<\/a>. <\/p>\n

<\/a> Expect transport and logistics to be in the spotlight again today: <\/strong>Madbouly was speaking at day one of TransMEA2023<\/a>, a four-day industry conference that wraps up on Wednesday.<\/p>\n

Also yesterday: <\/strong>A number of state-owned transport projects kicked off operations, including the trial run of the third and final phase of the Metro Line 3<\/a> and the East Nile monorail<\/a> \u2014 a 56-km line extending from Nasr City to the new capital, which will be fully operational next April, cabinet said. Day one also saw the inauguration of a state-owned EGP 500-mn concrete sleepers factory and a control center for the Beni Suef-Assiut railway line<\/a>. <\/p>\n

\n

<\/a> ALSO GOOD NEWS- We may be going back to only one-hour <\/strong>blackouts thanks to mazut imports and the ramping up of gas imports. <\/strong>Energy supplies are up with the Electricity Ministry importing mazut to feed into the country\u2019s power grid and plans to keep doing so until our natural gas supplies return to normal, a government official confirmed to Enterprise. That comes as we\u2019ve also seen a partial restoration<\/a> of Israeli natural gas imports. With energy supplies improving from two weeks ago and the long summer coming to an end, the dreaded planned two-hour long daily power outages have been cut down to one hour, reports Sada El Balad<\/a>, citing an unnamed Electricity Ministry official. <\/p>\n

ICYMI-<\/strong> The country has been experiencing blackouts since July, as the country grapples with a decline in domestic gas production and increased demand from an unusually prolonged summer. Our energy supplies took another hit after Israeli gas imports were disrupted in the wake of the war on Gaza, and now stand<\/a> at around 250 or 350 mn cubic feet per day from a pre-war 800 mn cubic feet per day, according to conflicting reports. <\/p>\n

\n

PSA #1- Our friends at Mashreq have consolidated their ESG efforts into a new <\/strong>Climb2Change initiative:<\/strong> Mashreq has launched an environmental, social, and corporate governance (ESG) initiative named Climb2Change, according to a statement (pdf)<\/a> by the financial institution. Under the initiative, Mashreq will continue to offer sustainability-linked financing and maintain its net-zero commitment. It will also launch clean-up expeditions on 14 of the world\u2019s highest mountains in a bid to promote recycling, waste reduction, and environmental preservation, the statement reads.<\/p>\n

PSA #2- The deadline to apply for the <\/strong>Chicago Booth Executive Program<\/a><\/strong> in El Gouna is <\/strong>Sunday 11 February 2024:<\/strong> The two-week program will kick off on 22 June 2024 and offer executives from the Egyptian public and private sector the skills to help them \u201cbecome a better leader for your organization and support Egypt\u2019s growth in the years ahead.\u201d<\/p>\n

PSA #3- Clocks changed in much of the United States and Canada yesterday<\/strong>, so make sure you check to see the time difference before hopping on that Teams \/ Google \/ Zoom call. <\/p>\n

\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

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

Inflation figures are out soon:<\/strong> Capmas and the Central Bank of Egypt will publish inflation data for October on Thursday, 9 November.<\/p>\n

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

Israel\u2019s escalating war on Gaza is dominating the front pages this morning:<\/strong> We have the latest in this morning\u2019s news well, below. The Associated Press<\/a>, Reuters<\/a> and everyone else has the story on the homepage. Meanwhile, the New York Times<\/a> picks up on Israel\u2019s attempts to lobby Western powers to support ethnic cleansing in Gaza.<\/p>\n

<\/a> ALSO- Agent Orange is leading Sleepy Joe in the polls:<\/strong> Biden has fallen behind Republican rival Donald Trump by as much as 10% in five out of the six most important swing states over concerns about his age, the economy, and internal party divisions over the war on Gaza, according to a new set of polls. (NYT<\/a> | Reuters<\/a>)<\/p>\n

AND- Elon Musk takes on ChatGPT:<\/strong> Tech oligarch Elon Musk has jumped on the AI bandwagon with the launch of Grok<\/a> \u2014 a chatbot fed by definitely the healthiest, most non-toxic source of online discourse: X \/ Twitter. What could go wrong?<\/a> (Financial Times<\/a> | BBC<\/a> | Wall Street Journal<\/a>)<\/p>\n

MARKET WATCH- <\/strong><\/p>\n

KSA and Russia stand firm on planned oil cuts: <\/strong>Saudi Arabia and Russia are continuing with their 1 mn barrel a day voluntary cap on oil supplies until the end of the year, according to official statements from both countries (here<\/a> and here<\/a>). The decision to continue supply cuts comes as fears of an escalating regional conflict in the Middle East have triggered volatility in global oil markets.<\/p>\n

ICYMI-<\/strong><\/p>\n

Missed this week\u2019s Inside Industry? <\/strong>In our weekly vertical exploring all things industry and manufacturing, we featured our Manufacturer of the Month: Mintra<\/a> <\/p>\n

<\/p>\n

*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. <\/p>\n

In today\u2019s issue:<\/strong> Is Egypt becoming a regional hub for higher ed?<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, wonderful people. We have a couple of pieces of good news with which to kick off this morning\u2019s issue. UP FIRST- The government is going to invite private-sector players to manage the nation\u2019s airports,Prime Minister Moustafa Madbouly said during a meeting on the sidelines of a transport conference in Cairo yesterday. 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This new capacity will largely be built and operated by the private sector as the electricity and environment ministries plan to issue tenders for WtE plants under\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/459.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578360,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/26\/cabinet-gives-initial-approval-to-freight-transport-privatization-makes-some-shop-owners-lives-easier-after-public-shops-law-controversy\/","url_meta":{"origin":609475,"position":1},"title":"Cabinet gives initial approval to freight transport privatization + makes some shop owners\u2019 lives easier after Public Shops Law controversy","author":"enterpriseam admin","date":"26 December 2022","format":false,"excerpt":"Are we one step closer to privatizing Egypt\u2019s freight transport sector? Cabinet approved in principle the decision to grant a consortium of private companies the operations and management of freight transport in a step to partially privatize the sector, according to a cabinet statement. The Transport Ministry will launch a\u2026","rel":"","context":"In "Cabinet watch"","block_context":{"text":"Cabinet watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/cabinet-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/520.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":550373,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/25\/river-transport-bill-gets-initial-nod-from-parliament\/","url_meta":{"origin":609475,"position":2},"title":"River transport bill gets initial nod from parliament","author":"enterpriseam admin","date":"25 October 2022","format":false,"excerpt":"We could see more private sector players taking to the nation\u2019s rivers after the House gave preliminary approval to amendments modernizing a 1956 law regulating river transport. The amendments would put the River Transport Authority (RTA) in charge of all things inland navigation and draw up a development plan for\u2026","rel":"","context":"In "LEGISLATION WATCH"","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/326.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566326,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/13\/and-speaking-of-that-green-hydrogen-plan\/","url_meta":{"origin":609475,"position":3},"title":"And speaking of that green hydrogen plan...","author":"enterpriseam admin","date":"13 June 2021","format":false,"excerpt":"We may be seeing major announcements soon in green hydrogen as part of an initiative that could cost some USD 3-4 bn at its early stages, Electricity Minister Mohamed Shaker told reporters on the sidelines of the ongoing forum of the heads of African investment promotion agencies in Sharm El\u2026","rel":"","context":"In "SPEED ROUND: ENERGY"","block_context":{"text":"SPEED ROUND: ENERGY","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/468.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566802,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/14\/the-private-sector-will-run-much-of-egypts-rail-network\/","url_meta":{"origin":609475,"position":4},"title":"The private sector will run much of Egypt\u2019s rail network","author":"enterpriseam admin","date":"14 July 2021","format":false,"excerpt":"SMART POLICY- Nine Egyptian companies \u2014 almost all of them private sector \u2014 will manage and operate Egypt\u2019s rail system under a cooperation protocol signed with the National Railways Authority. Transport Minister Kamel El Wazir isn\u2019t using the word \u201cquasi-privatization,\u201d but it feels very much like a step in that\u2026","rel":"","context":"In "SPEED ROUND: INFRASTRUCTURE"","block_context":{"text":"SPEED ROUND: INFRASTRUCTURE","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-infrastructure\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/424.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":590996,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/30\/pm-announces-fresh-measures-to-curb-electricity-demand-amid-rolling-blackouts\/","url_meta":{"origin":609475,"position":5},"title":"PM announces fresh measures to curb electricity demand amid rolling blackouts","author":"enterpriseam admin","date":"30 July 2023","format":false,"excerpt":"Blackouts will continue until end of August at least, Madbouly says","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1163.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\/609475","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=609475"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/609475\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/609473"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/609476"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=609475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=609475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=609475"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=609475"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=609475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}