{"id":616401,"date":"2024-03-05T00:00:00","date_gmt":"2024-03-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/05\/el-sisi-issues-directives-for-immediate-release-of-goods-stuck-at-port\/"},"modified":"2024-03-05T00:00:00","modified_gmt":"2024-03-05T00:00:00","slug":"el-sisi-issues-directives-for-immediate-release-of-goods-stuck-at-port","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/05\/el-sisi-issues-directives-for-immediate-release-of-goods-stuck-at-port\/","title":{"rendered":"El Sisi issues directives for \u201cimmediate\u201d release of goods stuck at port"},"content":{"rendered":"

Good morning, folks. <\/strong>As we approach the start of Ramadan, privatization news keep rolling in and we\u2019re hearing more reports of Egyptian companies setting up shop in Saudi Arabia. We\u2019ve also begun to get a clearer idea of the new plan to double some sections of the Suez Canal and details of how they plan to finance the project. <\/p>\n

We\u2019ve got a busy issue for you this morning<\/strong>, so let\u2019s jump right in.<\/p>\n

HAPPENING TODAY- <\/p>\n

<\/a> #1- <\/strong>It\u2019s day two of the EFG Hermes One on One Conference<\/strong>, the largest gathering of its kind devoted to emerging and frontier equities.<\/p>\n

Some 670 investors from 250 global institutions are meeting face-to-face with senior <\/strong>execs<\/strong> from more than 215 companies in industries through Thursday. Presenting companies are from industries ranging from food and fintech to banking and petrochemicals. Companies from 29 countries will be attending.<\/p>\n

Investors and corporates participated in EFG Hermes\u2019 unique live poll <\/strong>at the closing of yesterday\u2019s opening session, which also included an interview with our friend Mahmoud Mohieldin, the UN Special Envoy on Financing the 2030 Agenda for Sustainable Development as well as a panel on what artificial intelligence means to emerging markets and the finance industry. <\/p>\n

We have the rundown on the poll in this morning\u2019s news well <\/strong>and will have more coverage from the gathering in the days ahead. <\/p>\n

** If you\u2019re in Dubai and want to have coffee or pitch us on an interview<\/strong>, hit us up on 1x1@enterprisemea.com<\/a>.<\/p>\n

#2- PMI incoming: <\/strong>S&P Global will publish Egypt\u2019s PMI figures for February later today. The index last clocked in at 48.1<\/a> in January, marking a three-month low and the 38th straight month of contraction for the country\u2019s non-oil private sector.<\/p>\n

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Get Enterprise<\/b> daily <\/h4>\n<\/p><\/div>\n

The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

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

WATCH THIS SPACE- <\/p>\n

<\/a> #1- Clearing import backlogs? <\/strong>President Abdel Fattah El Sisi has issued directives for the \u201cimmediate\u201d release of all goods currently stuck at our ports following the fresh FX injection of funds the country received from the Ras El Hekma transaction, Prime Minister Moustafa Madbouly said, according to a cabinet statement<\/a>. The decision prioritizes food commodities, meds, feed, and production materials.<\/p>\n

How much are we talking?<\/strong>Some USD 2 bn of food commodities, meds, feed, and production materials are currently stuck at the ports, cabinet spokesperson Mohamed El Homsani said in televised interviews last night (watch, runtime: 4:19<\/a>).<\/p>\n

<\/a> #2- Airport management shakeup underway:<\/strong> The government has kicked off the executive process to offer the management and operation of the country\u2019s airports to the private sector in a bid to improve airport services and boost revenues, according to a cabinet statement<\/a>. The state is looking for \u201can international consultant with extensive experience\u201d to set a professional roadmap for the tender.<\/p>\n

ICYMI-<\/strong> The move comes on the heels of last week\u2019s announcement that the government will soon launch an international tender<\/a> for the management and operation of all the airports in the country amid a push to get more private sector players involved in the aviation sector.<\/p>\n

<\/a> #3- Egyptians Abroad Investment Company<\/strong>to list on the EGX and exchanges<\/strong> abroad:<\/strong> The Egyptians Abroad Investment Company (EAIC) will list on the EGX before it IPOs in foreign markets at a later stage, Emigration Minister Soha Gendy told Asharq Business<\/a>.<\/p>\n

ICYMI:<\/strong> EAIC \u2014 which seeks to encourage Egyptians living abroad to invest in the local economy in a bid to bring more hard currency into the country \u2014 is expected to kick off operations this year<\/a>.<\/p>\n

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PSA- Gov\u2019t launches new solar panel installation initiative: <\/strong>The Electricity Ministry has launched a website<\/a> to facilitate the installation of solar panels for households and companies and connect them to the national power grid. The platform offers guidance on the installation of PV cells, the costs involved, and the needed capacity and lists qualified installation companies.<\/p>\n

EGP WATCH- <\/p>\n

S&P Global Ratings thinks the authorities will initially devalue the EGP to 40<\/strong> against <\/strong>the USD <\/strong>within the coming few weeks,before gradually pushing it to 45 within the coming five to six months, it wrote in a note cited in Asharq Business<\/a>.The value of the EGP could weaken further in the absence of structural economic reforms outlined by the IMF, it added.<\/p>\n

WAR WATCH- <\/p>\n

<\/a> Talks in Cairo between Hamas and Egyptian-Qatari mediators have made<\/strong>\u201csignificant <\/strong>progress\u201d <\/strong>on a ceasefire agreement, Al Qahera News<\/a> reported yesterday. \u201cTalks in Cairo continue for the second day, regardless of whether the occupation\u2019s delegation is present,\u201d a Hamas representative told Reuters<\/a>.<\/p>\n

The sticking point: <\/strong>The current proposal \u2014 which reportedly entails a six-week ceasefire in exchange for the release of sick, elderly, and female hostages \u2014 was accepted by Israel in Paris last week, and is now awaiting a response from Hamas, an Israeli official told NBC News<\/a>. However, Hamas is pushing for a longer-term ceasefire and assurances that the war will come to an end, while Israel seems committed to only have a temporary truce in exchange for the release of hostages, a Palestinian official close to the talks told Reuters<\/a>.<\/p>\n

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

Apple has been slapped with a USD 2 bn fine by the European Commission<\/strong> forbreaching EU antitrust laws by preventing music streaming apps from informing iPhone users about cheaper subscription options paid for outside iPhone apps. The whopping fine for \u201cabusing its dominant position\u201d is designed to deter Apple and other giant companies from taking similar actions in the future. (Reuters<\/a> | CNBC<\/a> | Associated Press<\/a>)<\/p>\n

While over in the states, Trump\u2019s legal battles are once again making the front pages:<\/strong> The Supreme Court overturned a ruling by Colorado\u2019s top court that prohibited Donald Trump from running for president in the state on the basis of an anti-insurrection clause in the US constitution. Only Congress has the constitutional power to take a candidate off the ballot under the 14 amendment, the Supreme Court unanimously ruled. (Reuters<\/a> | Bloomberg<\/a> | Associated Press<\/a> | CNBC<\/a> | BBC<\/a> | Guardian<\/a>)<\/p>\n

\n

<\/p>\n

*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p>\n

In today\u2019s issue: <\/strong>We look into how to greenify Egypt\u2019s building materials industry and how to meet European standards to access EU markets amid tighter regulations.<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, folks. As we approach the start of Ramadan, privatization news keep rolling in and we\u2019re hearing more reports of Egyptian companies setting up shop in Saudi Arabia. We\u2019ve also begun to get a clearer idea of the new plan to double some sections of the Suez Canal and details of how they plan […]<\/p>\n","protected":false},"author":1,"featured_media":616402,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7204],"tags":[309,664,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-616401","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-customs","tag-customs-authority","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"57b465ed-dcf5-4dbf-996c-22f584ba787b","is_powered_by":true,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/3\/349.jpg","photo_position":"above","homepage_title":"","full_issue_title":"El Sisi issues directives for \u201cimmediate\u201d release of goods stuck at port","related_issue":[616399],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.e48a6192-5a61-4a36-8c44-dbfde03e6725.mp3"},"yoast_head":"\nEl Sisi issues directives for \u201cimmediate\u201d release of goods stuck at port - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/05\/el-sisi-issues-directives-for-immediate-release-of-goods-stuck-at-port\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"El Sisi issues directives for \u201cimmediate\u201d release of goods stuck at port\" \/>\n<meta property=\"og:description\" content=\"Good morning, folks. 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Expect an announcement this coming Sunday or Monday that we\u2019re taking next Thursday off in observation of the 25 January holiday.It\u2019s a very\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":557299,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/14\/this-morning-last-chance-for-ek-holding-shareholders-uk-reviews-it-red-list-this-week-brace-yourselves-isheep\/","url_meta":{"origin":616401,"position":1},"title":"THIS MORNING: Last chance for EK Holding shareholders; UK reviews it \u201cRed List\u201d this week; Brace yourselves, iSheep.","author":"enterpriseam admin","date":"14 September 2021","format":false,"excerpt":"Good morning, wonderful people, and happy hump day. And what a busy one it is, as we mull SPACs on the EGX, another blockbuster Egyptian fintech round and the expected unveiling this evening of Apple\u2019s iPhone 13.Dominating coverage of Egypt in the international press today: President Abdel Fattah El Sisi\u2019s\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":560265,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/22\/what-were-tracking-on-22-february-2021\/","url_meta":{"origin":616401,"position":2},"title":"What we\u2019re tracking on 22 February 2021","author":"enterpriseam admin","date":"22 February 2021","format":false,"excerpt":"Good morning, ladies and gentlemen, and welcome to what unexpectedly shaped up to be an eventful Monday. THE BIG STORY HERE AT HOME? It\u2019s a toss-up between the upcoming rollout of vaccines to elderly citizens and those with chronic illnesses, and the revival of the Damietta LNG facility after an\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":560305,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/23\/what-were-tracking-on-23-february-2021\/","url_meta":{"origin":616401,"position":3},"title":"What we\u2019re tracking on 23 February 2021","author":"enterpriseam admin","date":"23 February 2021","format":false,"excerpt":"Happy hump day, everyone. It may be a relatively slow news day, but we\u2019re still very happy that the weekend is within arm\u2019s reach.THE BIG STORY AT HOME: The shipment of 300k Sinopharm vaccines we\u2019ve been waiting on from China landed in Cairo in the wee hours of the morning.\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":549230,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/08\/this-morning-customs-exchange-rate-hiked-egypt-icf-enters-its-second-day\/","url_meta":{"origin":616401,"position":4},"title":"THIS MORNING: Customs exchange rate hiked + Egypt-ICF enters its second day","author":"enterpriseam admin","date":"8 September 2022","format":false,"excerpt":"Good morning, wonderful people, and happy Thursday. We hope you\u2019re looking forward to the first weekend of the post-Sahel season. (Unless you\u2019re headed north to get in one last visit to the beach and close up your place, in which case we wish you a safe drive). If the weather\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":579810,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/21\/it-seems-nafeza-wont-take-flight-for-a-while-yet\/","url_meta":{"origin":616401,"position":5},"title":"It seems Nafeza won\u2019t take flight for a while yet","author":"enterpriseam admin","date":"21 November 2022","format":false,"excerpt":"Happy Monday, wonderful people. We\u2019ve got a slow but steady stream of news trickling in this afternoon as we ease back into post-COP normality.THE BIG STORY TODAY- Nafeza rollout to air freight pushed \u201cuntil economic conditions stabilize:\u201d The rollout of the Advance Customs Information (ACI) customs system to air freight\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/616401","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=616401"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/616401\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/616399"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/616402"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=616401"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=616401"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=616401"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=616401"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=616401"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}