{"id":610398,"date":"2023-11-20T00:00:00","date_gmt":"2023-11-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/20\/shoukry-in-china-today-to-push-for-gaza-ceasefire\/"},"modified":"2023-11-20T00:00:00","modified_gmt":"2023-11-20T00:00:00","slug":"shoukry-in-china-today-to-push-for-gaza-ceasefire","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/20\/shoukry-in-china-today-to-push-for-gaza-ceasefire\/","title":{"rendered":"Shoukry in China today to push for Gaza ceasefire"},"content":{"rendered":"

Good morning, wonderful people. <\/strong>We have plenty of FDI in store for you today (it leads the news well as well as Also On Our Radar) \u2014 and expectations that we\u2019ll see further announcements today. <\/p>\n

BUT FIRST, a programming note: <\/strong>We\u2019re pleased to announce that we\u2019ve migrated Enterprise Climate<\/a><\/strong> to our new web platform. Enterprise Climate readers will now enjoy a rich homepage, powerful search, and tools to allow them to share or listen to individual stories. Enterprise Climate is the leading newsletter covering the world\u2019s most exciting industry on a MENA-wide scale. <\/p>\n

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

<\/a> #1-<\/strong>Shoukry in China to press for Gaza ceasefire: <\/strong>Foreign Minister Sameh Shoukry and a delegation of foreign ministers from Arab and Islamic nations are in China today and tomorrow to push for a deescalation of the conflict in Gaza, the Chinese Foreign Ministry said<\/a> yesterday. Shoukry will be joined by his counterparts from Saudi Arabia, Jordan, and Indonesia, in addition to representatives from the Palestinian Authority and the Organization of Islamic Cooperation. This is the delegation\u2019s first stop in a tour of P5 members of the UN Security Council nations aimed at ramping up pressure for a ceasefire.<\/p>\n

Remember:<\/strong> China is the president<\/a> of the UN Security Council for November.<\/p>\n

<\/a> #2- A high-profile Saudi business delegation arrives in town today. <\/strong>Egyptian and Saudi companies are expected announce new investments as a delegation led by Saudi Trade Minister Majid bin Abdullah Al Qasabi arrives in Egypt today for the Saudi-Egyptian Business Council. Speaking yesterday, council member Turki Al Hokair said his company would invest as much as USD 1.5 bn here next year in a range of sectors. We have that story in this morning\u2019s news well, below. <\/p>\n

The delegation will be in town two days ahead of the Egy-GCC Business Forum<\/strong>, which takes place on Wednesday. President Abdel Fattah El Sisi will open the forum, which is set to focus on manufacturing, renewable energy and desalination, agriculture, real estate, and tourism, among other sectors. <\/p>\n

#3- <\/strong>Cairo ICT<\/a><\/strong> continues today <\/strong>at the Egypt International Exhibition Center. The tech industry gathering ends on Wednesday.<\/p>\n

DATA POINT-<\/strong><\/p>\n

Import backlog eases in October:<\/strong> Egypt cleared USD 800 mn of goods during October, taking the total amount of goods still at ports to USD 3.9 bn, according to Al Borsa<\/a>. FX shortages have hindered importers\u2019 ability to pay for customs clearance, but the government has moved to address backlogs by scrapping burdensome requirements<\/a> such as letters of credit (L\/Cs) at the start of the year.<\/p>\n

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

#1- MERIS may be getting some competition: <\/strong>The deadline to apply for a credit rating license from the FRA is this Wednesday after it loosened<\/a> requirements last year.<\/p>\n

#2- Get ready for a whole lot of Egypt-bound Gulf investments in the days to come: <\/strong>The EGY-GCC Business Forum<\/a> is kicking off this Wednesday and will wrap on the following day.<\/p>\n

#3- Education, Education, Education: <\/strong>The Worldview Education F<\/a>air<\/a> is kicking off on Thursday with representatives for 20 universities and business schools looking for bright and eager students to enroll. <\/p>\n

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

<\/a> Altman could return to OpenAI by the week\u2019s end, if the company\u2019s investors have<\/strong> their way:<\/strong> OpenAI\u2019s biggest investors, including Microsoft and a handful of prominent VC firms, are urging the company to reinstate Sam Altman as CEO just days after the board sacked him, writes the Financial Times<\/a>. Altman stepped back into the startup\u2019s offices yesterday evening wearing a visitor\u2019s pass, but it remains to be seen if his support from employees and investors is enough leverage to reverse the board\u2019s decision.<\/p>\n

The Verge reported that the board had initially agreed to resign <\/strong>under pressure from investors, but later said it had missed a late-Saturday deadline to do so. <\/p>\n

The OpenAI story has thrown the AI industry\u2019s \u201cboomer vs doomer\u201d clash into sharp relief for the global business press. <\/strong>Doomers hold that AI could be a catastrophe for the human race. Boomers see it unlocking a world of new potential. Particularly worth reading are takes from Bloomberg<\/a>, the Economist<\/a>, and CNBC<\/a>.<\/p>\n

ALSO- Former US First Lady Rosalyn Carter has died at age 96.<\/strong> Best known for her lifelong advocacy for mental health, Carter helped redefine the role of the \u201cpolitically active\u201d first lady and was instrumental in her husband\u2019s run for the White House. US President Jimmy Carter brokered the Camp David agreements that led us to make peace with Israel. See obits in the New York Time<\/a> | Wall Street Journal<\/a> | Washington Post<\/a>.<\/p>\n

WATCH THIS SPACE- <\/strong><\/p>\n

<\/a> #1-<\/strong>A logistics freezone on Libyan border + Egyptian-Libyan bank could be in the <\/strong>works:<\/strong> Libyan investors have proposed setting up a joint Egyptian-Libyan bank and a logistics zone near the Salloum border crossing, according to a statement from the Egyptian Businessmen Association (EBA) picked up by Al Arabiya<\/a>. This came during discussions about the involvement of Egyptian companies in the Libya reconstruction effort.<\/p>\n

Remember:<\/strong> A coalition of three local firms are in line to establish an integrated logistics zone<\/a> at Salloum after signing an MoU with the government earlier this year.<\/p>\n

#2- In this week\u2019s second piece of <\/strong>chicken-related news<\/a><\/strong>: <\/strong>An Egyptian unit ofthe National Poultry Company<\/a> is in talks to acquire an unnamed local poultry firm in 2024, the Jordan-based company\u2019s General Manager Mansour Bin Ali told Asharq Business<\/a> yesterday. The company is also looking to set up eight poultry stations next year to back its expansion plans in the Egyptian market, Bin Ali added.<\/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

Subscribe here<\/a>\n <\/div>\n<\/p><\/div>\n<\/div>\n

<\/a> HELP GAZA-<\/strong><\/p>\n

Want to support relief efforts in Gaza, but don\u2019t know how?<\/strong> We\u2019ve got you. More than 1 mn people in Gaza have been thrown from their homes and every human being there lacks access to food, water, and fuel amid the most intense bombardment any population has endured this century.<\/p>\n

The folks at Talabat are processing donations for a range of Gaza relief appeals <\/strong>by charities including the Egyptian Food Bank and Misr El Kheir. Pay in EGP using your credit card.<\/p>\n

Or check out <\/strong>our list of charities<\/a><\/strong> to which you can make direct donations<\/strong> via bank deposit and \/ or Fawry.<\/p>\n

WAR ECONOMICS-<\/strong><\/p>\n

Trading with Yemen may be getting a whole lot pricier: <\/strong>Lloyd\u2019s Ins. premiums for goods passing through Yemeni ports or by its coasts will rise 100-300% according to Al Mal<\/a>, citing Apex Reinsurance Brokerage head Khaled Sayed. The ins. hike predictions follow the Yemen-based Houthi movement firing<\/a> rockets and drones in Israel\u2019s direction and the group threatening to attack Israel-linked ships.<\/p>\n

What was that about threats to target cargo ships? <\/strong>A cargo ship reportedly linked to an Israeli businessman was hijacked by the Houthi movement yesterday and 25 crew members were taken hostage, AP<\/a> reports.<\/p>\n

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

Missed this week\u2019s Inside Industry? <\/strong>In our weekly vertical exploring all things industry and manufacturing: EgyptSat Auto secured its golden license, but are unclear industry standards in the way?<\/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>Our executive education industry is adapting to new business realities.<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, wonderful people. We have plenty of FDI in store for you today (it leads the news well as well as Also On Our Radar) \u2014 and expectations that we\u2019ll see further announcements today. BUT FIRST, a programming note: We\u2019re pleased to announce that we\u2019ve migrated Enterprise Climate to our new web platform. 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PLUS: More Gulf real estate investment on the horizon?","author":"enterpriseam admin","date":"8 August 2023","format":false,"excerpt":"The news cycle is picking up slightly as we slide into the midweek","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/8\/359.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546845,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/this-morning-shoukry-in-sweden-for-climate-talks-bike-sharing-is-coming-to-cairo-in-july\/","url_meta":{"origin":610398,"position":2},"title":"THIS MORNING: Shoukry in Sweden for climate talks; Bike-sharing is coming to Cairo in July","author":"enterpriseam admin","date":"31 May 2022","format":false,"excerpt":"Good morning, wonderful people, and welcome to the last business day of May. It\u2019s another busy news day, with the National Bank of Egypt and Banque Misr\u2019s decision to take their 18% CDs off the market leading this morning\u2019s headlines. Denizens of Planet Startup will also want to take note\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":546604,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/this-morning-car-price-cap-raised-new-refund-rules-shoukry-at-davos\/","url_meta":{"origin":610398,"position":3},"title":"THIS MORNING: Car price cap raised + new refund rules; Shoukry at Davos","author":"enterpriseam admin","date":"23 May 2022","format":false,"excerpt":"Good morning, wonderful people, and welcome to a morning packed with M&A news. Two of the three transactions involve inbound foreign (Saudi) investment, as this morning\u2019s tl;dr stack suggests. Unsurprisingly, food, healthcare and finance are all in play. We also have two IPO stories this morning: Fawry is putting on\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":577270,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/16\/this-morning-there-are-only-three-days-left-of-cop27-or-are-there\/","url_meta":{"origin":610398,"position":4},"title":"THIS MORNING: There are only three days left of COP27. Or are there?","author":"enterpriseam admin","date":"16 November 2022","format":false,"excerpt":"Good morning, wonderful people. Climate is again the big story of the day, as you might expect with just three days of COP27 left to go. 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