{"id":613567,"date":"2024-01-17T00:00:00","date_gmt":"2024-01-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/17\/this-evening-alshaya-is-shrinking-its-presence-in-egypt\/"},"modified":"2024-01-17T00:00:00","modified_gmt":"2024-01-17T00:00:00","slug":"this-evening-alshaya-is-shrinking-its-presence-in-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/17\/this-evening-alshaya-is-shrinking-its-presence-in-egypt\/","title":{"rendered":"THIS EVENING: Alshaya is shrinking its presence in Egypt"},"content":{"rendered":"

Good afternoon, friends, and happy almost-Thursday. <\/strong>The weekend is peering at us over the horizon as the first full week in Om El Donia comes to an end. <\/p>\n

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

Alshaya Group is downsizing in Egypt:<\/strong> Retail conglomerate Alshaya Group is shutting down some of its stores in Egypt due to our economic conditions, the company said in an internal note to employees, Asharq Business<\/a> reports. Alshaya pointed to challenges including \u201cUSD sourcing and transferring money out of the country,\u201d in addition to inflation pressures, according to Asharq Business. <\/p>\n

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

It\u2019s a mixed bag of headlines in the international press today<\/strong>.<\/strong>Concern about the region\u2019s security after Houthi attacks on vessels passing through the Red Sea that have heightened regional tensions were shared by Foreign Minister Prince Faisal Bin Farhan in Davos. He also called for a ceasefire and for international powers to step in, according to Bloomberg<\/a>. Meanwhile, Qatar and France worked out a plan to send important medication to Israeli hostages and aid to Gazans, the Washington Post<\/a> tells us, starting today. Hamas agreed on the condition of no Israeli inspections of the deliveries before they enter the strip. Over in the US: the New Hampshire Republican primaries could change the narrative for runners-up Nikki Haley and Ron De Santis as it is a less conservative and more urban state than Iowa where the majority voted for the Donald, says the Associated Press<\/a>. <\/p>\n

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