{"id":614951,"date":"2024-02-11T00:00:00","date_gmt":"2024-02-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/11\/all-eyes-on-rafah\/"},"modified":"2024-02-11T00:00:00","modified_gmt":"2024-02-11T00:00:00","slug":"all-eyes-on-rafah","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/11\/all-eyes-on-rafah\/","title":{"rendered":"All eyes on Rafah"},"content":{"rendered":"

Good morning, wonderful people. <\/strong>We are kicking off the workweek with a packed issue filled with a little bit of everything \u2014 privatization, economy, diplo, and M&A. But before we dive in: <\/p>\n

All eyes are on Rafah this morning <\/strong>after Israel launched airstrikes on the southern town of Gaza. The attack resulted in regional and international uproar, with Egypt threatening to suspend its peace treaty with Israel. <\/p>\n

<\/a> Burns + Shin Bet head are coming to town:<\/strong> Cairo is hosting another round of Israel-Hamas ceasefire talks on Tuesday, featuring a number of Israeli, US, Qatari, and Egyptian officials, including CIA\u2019s William Burns, head of Israeli intelligence agency Shin Bet Ronen Bar, and Egyptian intelligence chief Abbas Kamel. We have the full story in the news well, below. <\/p>\n

DATA POINTS-<\/p>\n

#1- Savers have so far deposited <\/strong>EGP 612 bn into the high-yield certificates of deposit<\/strong> taken to market last month<\/a> by the National Bank of Egypt and Banque Misr, Al Masry Al Youm<\/a> reported on Thursday. NBE has attracted inflows of EGP 395 bn, while Banque Misr has taken in EGP 217 bn. The 12-month CDs offer either a one-time return of 27% at maturity or monthly payouts at a 23.5% annualized rate.<\/p>\n

<\/a> #2- Finance Ministry has revised crude price estimates up<\/strong> 6%<\/strong> to US<\/strong>D 85 a<\/strong> barrel for the <\/strong>current fiscal year<\/strong>,up from USD 80 per barrel originally penciled into the budget, according to the ministry\u2019s semi-annual Financial Performance Report (pdf).<\/a> <\/p>\n

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HAPPENING TODAY- <\/p>\n

Today is the last day to apply for the <\/strong>Chicago Booth Executive Program<\/a><\/strong> in El Gouna:<\/strong> The two-week program will kick off on 22 June and offer executives from the Egyptian public and private sectors the skills to help them \u201cbecome better leaders for their organization and support Egypt\u2019s growth in the years ahead.\u201d<\/p>\n

IN THE HOUSE<\/p>\n

<\/a> The House is back in session after a two week break: <\/strong>The Budget Committee will meet to discuss and vote on the EGP 180 bn social support package announced<\/a> last week by the presidency. \u201cOnce approved, the laws will be up for discussion and vote before the House on Monday to be effective on the first of March,\u201d a parliamentary source said.<\/p>\n

On the agenda for tomorrow: <\/strong>The House will discuss and vote on a number of agreements that include:<\/p>\n