{"id":613760,"date":"2024-01-21T00:00:00","date_gmt":"2024-01-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/21\/telecom-egypt-gears-up-to-launch-5g-pilot\/"},"modified":"2024-01-21T00:00:00","modified_gmt":"2024-01-21T00:00:00","slug":"telecom-egypt-gears-up-to-launch-5g-pilot","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/21\/telecom-egypt-gears-up-to-launch-5g-pilot\/","title":{"rendered":"Telecom Egypt gears up to launch 5G pilot"},"content":{"rendered":"

Good morning and welcome to the beginning of the work week. <\/strong>We start the week with news of an IMF delegation in town and look likely to finish the week with some bigger news once we find out what has actually been discussed \u2014 and hopefully agreed \u2014 during their trip. <\/p>\n

But it\u2019s not all about the IMF on the agenda today<\/strong>, with news of another downgrade sovereign credit rating from Moody\u2019s making the front pages of the local business press and riling up our talk show hosts. We\u2019ve also got news of the latest credit card fx restrictions, disruptions in the Red Sea, and a construction update from ACWA Power\u2019s Kom Ombo solar plant set to be completed this year.<\/p>\n

<\/a> PSA- We\u2019re in for a four-day work week <\/strong>as the nation takes a holiday this Thursday,25 January in observance of Police Day and the 25 January revolution. Both the public and private sectors will be off, according to a cabinet statement<\/a>. You can expect the central bank and EGX to follow suit with announcements soon.<\/p>\n

** EnterpriseAM Egypt will also take a break from your inbox this Thursday, <\/strong>but we will be back bright and early on Sunday with all the business and finance news from the long weekend.<\/p>\n

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HAPPENING TODAY- <\/p>\n

<\/a> The Senate is back in session:<\/strong> The Senate will reconvene today after a two-week break to discuss a report detailing the government\u2019s policy and promotion strategies to ramp up tourist traffic and tourism-linked investments into the country. <\/p>\n

It\u2019s also a busy day for Senate committees: <\/strong>The Economic and Financial Affairs<\/strong> Committee <\/strong>will evaluate the impact of 2008\u2019s building tax law on real estate investment, the Industry Committee <\/strong>will evaluate plans to develop the SZone, and the Agricultural Committee <\/strong>will figure out how to develop our fish farm industry. While the government\u2019s plans for building affordable housing for low-income families will be inspected by the Housing Committee <\/strong>and the Legislative and Constitutional Affairs Committee <\/strong>will take a look at 1996 law on rental contracts.<\/p>\n

HAPPENING TOMORROW- <\/p>\n

<\/a> #1-<\/strong>BEBA is serving up cyber security for breakfast<\/strong>: The British Egyptian Business Association\u2019s (BEBA) briefing breakfast on cyber security will start tomorrow at 9:30am CLT. You can register for Cyber Security: How to Mitigate the Growing Digital Risks and Hazards here<\/a>.<\/p>\n

Why you should care: <\/strong>Last year saw unconfirmed reports alleging that two Egyptian blue chip<\/a>companies<\/a> were hacked by LockBit \u2014 the world\u2019s most successful ransomware gang \u2014 compromising personal and financial data. We have been unable to verify all of LockBit\u2019s claims, but the hack suggests that LockBit has turned its sights on Egypt and other emerging markets \u2014 likely banking on companies here taking a less-sophisticated approach to cybersecurity.<\/p>\n

#2- Tomorrow in the Senate:<\/strong> The Senate will meet again tomorrow to discuss a report about localizing the electronic games industry through partnerships with foreign investors with the aim of \u2014 you guessed it \u2014 increasing FX revenues.<\/p>\n

3#- <\/strong>Arab summit tomorrow in Brussels to seek Gaza ceasefire: <\/strong>Arab foreign ministers and Arab League representatives will land in the Belgium capital to meet their European counterparts tomorrow to discuss how to reach a ceasefire in Gaza.<\/p>\n

HAPPENING THIS WEEK-<\/p>\n

<\/a> The EU-Egypt Association Council will meet in Brussels<\/strong> on Tuesday, 23 January, according to a statement<\/a> by the EU. Foreign Minister Sameh Shoukry will lead the delegation for the meeting chaired by the EU foreign policy chief Josep Borrell. The talks are set to discuss cooperation under the Egypt-EU partnership priorities 2021-2027<\/a> framework and address \u201chuman rights, security, counter-terrorism, and migration \u2013 as well as cooperation in economic and social issues \u2013 ranging from investments to environment and energy,\u201d the EU statement adds.<\/p>\n

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CIRCLE YOUR CALENDAR- <\/p>\n

<\/a> TE to pilot <\/strong>5G in 3 months:<\/strong> Telecom Egypt aims to start rolling out fifthgeneration (5G) network services by the end of year, Mohamed Nasr told Asharq Business<\/a>, adding that trial operations will start within the coming three months. Telecom Egypt earlier this month received the country\u2019s first license<\/a> to install and operate 5G networks at a cost of USD 150 mn. <\/p>\n

Do Egyptians have the hardware to handle 5G?<\/strong>While currently only 8% of mobile phones<\/a> inEgypt currently support 5G technology, Nasr sees the figure increasing over the coming period. <\/p>\n

Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n

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

Talk of an \u201cundeclared regional war\u201d <\/strong>is driving the conversation in our part of the world in a growing number of global business news outlets. \u201cRisk of a regional conflagration is growing daily,\u201d Bloomberg<\/a> reports, noting that the UAE\u2019s ambassador to the UN, Lana Nusseibeh, said in an interview that \u201cthe risks are high, the war in Gaza is very clearly an open wound and it\u2019s destabilizing the region.\u201d The US, she said, needs to support an immediate ceasefire in Israel\u2019s war in Gaza. <\/p>\n

Beijing may be able to step up its diplomacy in the region <\/strong>in a bid to keep a lid on the conflict. While officials are yet to signal formal diplomatic or military involvement, policymakers in China are becoming worried that disruption to Red Sea shipping could threaten their economy as it causes \u201chuge losses for Chinese companies,\u201d the Financial Times<\/a> writes. The salmon-colored paper believes that Washington has asked Chinese diplomats to consider pressuring Iran to rein-in the Houthis. <\/p>\n

Per the Wall Street Journal: <\/strong>\u201cViolence from Lebanon to Iraq to the Red Sea all but amounts to an undeclared regional war, with Iran-backed militants fighting Israel and the US,\u201d it writes in what it\u2019s pitching as \u201c a guide to the Middle East\u2019s growing conflicts<\/a>.\u201d<\/p>\n

Tell us something we didn\u2019t know: The oil market is \u201cbracing for a weeks-long<\/strong> disruption\u201d to shipping in the Red Sea<\/strong>, Bloomberg<\/a> reports, saying data shows a growing number of tanker charters are being booked for routes that go around the Cape of Good Hope. Cruise lines are also giving the Red Sea a pass<\/strong>, Reuters<\/a> notes. <\/p>\n

ALSO MAKING HEADLINES:<\/strong><\/p>\n