{"id":609785,"date":"2023-11-09T00:00:00","date_gmt":"2023-11-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/09\/this-evening-cbe-kia-to-offload-stakes-in-aaib-plus-no-cyberattack-at-fawry\/"},"modified":"2023-11-09T00:00:00","modified_gmt":"2023-11-09T00:00:00","slug":"this-evening-cbe-kia-to-offload-stakes-in-aaib-plus-no-cyberattack-at-fawry","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/09\/this-evening-cbe-kia-to-offload-stakes-in-aaib-plus-no-cyberattack-at-fawry\/","title":{"rendered":"THIS EVENING: CBE + KIA to offload stakes in AAIB. Plus: No cyberattack at Fawry"},"content":{"rendered":"

Good afternoon friends and Happy Thursday. <\/strong>The week has ended with privatization updates entering our news cycle alongside the conflict dominating our region and headlines. <\/p>\n

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

Fawry denies it faced a cyberattack:<\/strong> E-payments giant Fawry did not experience a cyberattack earlier today, the company said in a disclosure (pdf)<\/a> to the EGX, denying rumors that were circling on social media and WhatsApp that customers\u2019 personal information was exposed in a hack. The company conducted security tests and did not find evidence of a data leak, according to the disclosure. <\/p>\n

CBE and KIA to divest stakes in AAIB? <\/strong>The Central Bank of Egypt (CBE) and Kuwait Investment Authority (KIA) are each set to offload a 20% stake in the Arab African International Bank, an informed source told Enterprise. The CBE and the KIA each own a 49.4% stake in AAIB, according to the lender\u2019s latest published annual report (pdf)<\/a>. The sellers are looking to divest their shares on the EGX and to strategic investors. The news was first picked up by Arab World Press<\/a>.
Correction on 11 November 2023: An earlier version of this story miswrote the Arab African International Bank as the Arab African Investment Bank.<\/i><\/p>\n

Remember:<\/strong> AAIB is on the government\u2019s list of 35 state-owned companies<\/a> geared for privatization<\/a>.<\/p>\n

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

Updates on Israel\u2019s onslaught of Gaza and highlights of the GOP debates <\/strong>are dominating the headlines in the international press. The US attack on a weapons depot in Syria utilized by Iran\u2019s Islamic Revolutionary Guard yesterday is reportedly a result of attacks on US forces in Iraq and Syria. The United Nations\u2019 Chief of Human Rights has also accused Israel and Hamas of committing war crimes calling for a ceasefire. (Bloomberg<\/a> | Reuters<\/a>) <\/p>\n

The GOP debates in Florida by five republican candidates vying for the campaign run <\/strong>instead of Trump steered the conversation <\/strong>as they undermined the former president on several policies as their way to win votes over to their camps. (Associated Press<\/a> | Washington Post<\/a> | Wall Street Journal<\/a>) <\/p>\n

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