{"id":618049,"date":"2024-04-02T00:00:00","date_gmt":"2024-04-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/02\/el-sisi-begins-his-third-term-today\/"},"modified":"2024-04-02T00:00:00","modified_gmt":"2024-04-02T00:00:00","slug":"el-sisi-begins-his-third-term-today","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/02\/el-sisi-begins-his-third-term-today\/","title":{"rendered":"El Sisi begins his third term today"},"content":{"rendered":"

Good morning, folks. <\/strong>We have plenty of news for you this morning, but it\u2019s all good: Foreign liabilities in banks are narrowing, the second tranche of our IMF package is due this summer, and auto sales are picking up. <\/p>\n

** DID YOU KNOW that we now cover <\/strong>Saudi Arabia<\/a><\/strong> and the <\/strong>UAE<\/a><\/strong>?<\/strong><\/p>\n

** Were you forwarded this email? <\/strong>Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge. <\/p>\n

HAPPENING TODAY-<\/p>\n

<\/a> P<\/strong>resident Abdel Fattah El Sisi will be sworn in for his third term later today <\/strong>after he takes the oath of office before the House of Representatives at the new administrative capital. El Sisi\u2019s new term is likely to start with some new faces at the helm of some of the country\u2019s ministries and other government bodies.<\/p>\n

And the presidency will officially begin its move to the new capital as of today<\/strong>, Administrative Capital for Urban Development CEO Khaled Abbas confirmed over the weekend.<\/p>\n

El Sisi spent the day in Jordan yesterday <\/strong>before returning to Egypt in the evening<\/a>. During his day in Amman, he met with Jordan\u2019s King Abdullah II<\/a> to discuss the ongoing situation in Gaza.<\/p>\n

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HAPPENING TOMORROW-<\/p>\n

<\/a> It\u2019s PMI week: <\/strong>S&P Global will publish Egypt\u2019s PMI figures for March tomorrow. All eyes will be on the gauge to see the effect of the float on the growth \u2014 or lack thereof \u2014 of the country\u2019s non-oil private sector and business confidence. <\/p>\n

Finally, some positive PMI news? <\/strong>After having been in contraction for 39 straight months and falling<\/a> to an 11-month low last month on the back of Red Sea disruptions and high inflation, there is reasonable hope that the end of the FX shortage, death of the parallel market, and clearing of port backlogs \u2014 all stemming from the float of the EGP \u2014 may put the private sector on a new trajectory.<\/p>\n

WEATHER- <\/strong>It\u2019s spring in Cairo today, with a high of 31\u00b0C and a low of 19\u00b0C, according to our favorite weather app.<\/p>\n

It\u2019s cooler in Alexandri<\/strong>a<\/strong>, with a high of 24\u00b0C and a low of 15\u00b0C.<\/p>\n

So, when <\/strong>do we eat?<\/strong> Maghrib prayers are at 6:15 pm in the capital city, and you\u2019ll have until 4:13 am tomorrow to hydrate and caffeinate ahead of fajr.<\/p>\n

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WATCH THIS SPACE-<\/p>\n

<\/a> Poultry and egg prices to dip starting today: <\/strong>Poultry and egg producers will impose price caps on the two commodities starting today as part of a new initiative by the Poultry Producers Union to cut prices by 10-15%, according to a cabinet statement<\/a>.<\/p>\n

The new price tags:<\/strong> Farms are to sell chicken at EGP 85 per kg and eggs at EGP 135 per carton to shops. For the end consumer, the new prices will translate to a maximum of EGP 95 per kg of chicken and EGP 145 per carton of eggs, according to the statement.<\/p>\n

Remember:<\/strong> Last week, the government directed<\/a> local manufacturers, suppliers, and retailers to gradually slash prices by up to 30% by the end of the Eid Al Fitr holiday.<\/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

\n

CIRCLE YOUR CALENDAR- <\/p>\n

<\/a>The EU-Egypt Investment Conference is happening on Saturday, June 29<\/strong>, according to a cabinet statement<\/a>. The conference, originally scheduled for May<\/a>, is expected to bring together some 450 European companies.<\/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

\n

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

#1- The UK and US have inked what policymakers on both sides of the Atlantic are positioning as a \u201clandmark\u201d AI agreement<\/strong>, formally laying out how they will work together to assess risks from AI models. Calling AI \u201cthe defining technology of our generation,\u201d US Secretary of Commerce Gina Raimondo said the agreement will help keep \u201cAI safe both now and in the future.\u201d<\/p>\n

Is joint regulation next? <\/strong>That\u2019s the dream of AI doomers \u2014 and the nightmare of AI boomers, who are chafing at US, UK and EU regulators having recently taken a much more hands-on approach to Big Tech than at any point in the past three decades.<\/p>\n

Read for yourself: <\/strong>Check out the announcement of the US-UK AI agreement<\/a>, or go deeper with Time<\/a> (it interviewed Michelle Donelan, the UK Secretary of State for Science, Innovation, and Technology) or the Financial Times<\/a>. <\/p>\n

SPEAKING OF REGULATION- Microsoft will start selling Teams separately from Office <\/strong>as it worries about antitrust legislation, Reuters<\/a> notes. The regulators began looking into Teams when it set out in 2020 to kill Slack, the popular workplace messaging app.<\/p>\n

<\/a> #2- Israeli warplanes bombed Iran\u2019s embassy in Syria yesterday<\/strong>, killing seven Iranian military advisors<\/a>. <\/p>\n

AND- Tens of thousands of Israelis turned out to protest Benjamin Netanyahu over the weekend <\/strong>and call for new elections. It was the \u201clargest anti-government protest since the war in Gaza began,\u201d Semafor<\/a> notes. <\/p>\n

ALSO- <\/strong>White House national security advisor Jake Sullivan is due in Saudi today to meet with <\/strong>Crown Prince and Prime Minister Mohamed bin Salman<\/strong>, Axios<\/a> reports in an exclusive out early this morning. Sullivan will be joined by Brett McGurk, the top White House Middle East envoy, and senior energy advisor Amos Hochstein<\/p>\n

On the agenda: <\/strong>\u201cA potential mega-deal that would include Saudi normalization with Israel\u201d as part of a series of agreements that would include a US-Saudi defense pact, the news outlet reports. A nuclear agreement could also be part of it. <\/p>\n

\n

\n

SIGN OF THE TIMES- How Gen Z is becoming the toolbelt generation<\/strong>, in the Wall Street Journal, which notes that in the United States, \u201cmore young workers are going into trades as disenchantment with the college track continues, and rising pay and new technologies shine up plumbing and electrical jobs.\u201d <\/p>\n

But Gen X did it first: <\/strong>Go read Matthew Crawford<\/a> \u2019s Shop Class as Soulcraft: An Inquiry into the Value of Work<\/a>. <\/p>\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 take a look at the Oil Ministry\u2019s plan to produce the country\u2019s first sustainable aviation fuels.<\/p>\n","protected":false},"excerpt":{"rendered":"

The presidency will officially begin its move to the new capital as of today<\/p>\n","protected":false},"author":1,"featured_media":618050,"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":[96,72,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-618049","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-abdel-fattah-el-sisi","tag-enterpriseam","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"17cb3909-f06f-4dc7-95d4-281f07e6c8dd","is_powered_by":true,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/4\/183.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s El Sisi begins his third term in office today","related_issue":[618047],"teaser":"The presidency will officially begin its move to the new capital as of today","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.33715739-7164-4c7e-b732-6dec952488ea.mp3"},"yoast_head":"\nEl Sisi begins his third term today - 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Otherwise, UK Prime Minister Boris Johnson is in Brussels today for a final push on a possible Brexit agreement with the EU, the US\u2026","rel":"","context":"In "AROUND THE WORLD"","block_context":{"text":"AROUND THE WORLD","link":"https:\/\/enterpriseam.com\/egypt\/category\/around-the-world\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":562451,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/25\/this-morning-its-a-huge-day-for-diplomacy-as-el-sisi-biden-talk-agai-qatars-fm-lands-and-cairo-readies-to-welcome-blinken\/","url_meta":{"origin":618049,"position":1},"title":"THIS MORNING: It\u2019s a huge day for diplomacy as El Sisi, Biden talk agai, Qatar\u2019s FM lands, and Cairo readies to welcome Blinken","author":"enterpriseam admin","date":"25 May 2021","format":false,"excerpt":"Good morning, friends, and welcome to a packed issue this morning, with plenty of news spanning from diplomacy to M&A as we start pushing over hump day.IT\u2019S A BIG DAY FOR: Diplomacy, as Cairo continues to thaw relations with one of our most important Western allies \u2014 and mends fences\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":561142,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/28\/what-were-tracking-on-28-march-2021\/","url_meta":{"origin":618049,"position":2},"title":"What we\u2019re tracking on 28 March 2021","author":"enterpriseam admin","date":"28 March 2021","format":false,"excerpt":"Good morning, friends. We have a busy news day to start the week as March (and with it the first quarter) rush to a close.THE BIG STORY AT HOME is probably the fact that there are so many big stories running the news cycle. The Suez Canal \/ Ever Given\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":560786,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/14\/what-were-tracking-on-14-march-2021\/","url_meta":{"origin":618049,"position":3},"title":"What we\u2019re tracking on 14 March 2021","author":"enterpriseam admin","date":"14 March 2021","format":false,"excerpt":"Good morning, wonderful people, and welcome to Sunday. Last week\u2019s run of M&A news continues this morning as Banque Misr successfully closes out its offer to take a 90% stake in CI Capital. Meanwhile, GSK is not selling its Egypt arm to Hikma after talks broke down. We have chapter\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":557184,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/09\/this-morning-inflation-data-lands-today-israeli-pm-to-visit-cairo-next-week-bill-gates-takes-control-of-four-seasons\/","url_meta":{"origin":618049,"position":4},"title":"THIS MORNING: Inflation data lands today; Israeli PM to visit Cairo next week? Bill Gates takes control of Four Seasons.","author":"enterpriseam admin","date":"9 September 2021","format":false,"excerpt":"Good morning ladies and gents \u2014 we have a jam-packed issue for you to close out the week so let\u2019s jump into it.WHAT\u2019S HAPPENING TODAY- Inflation data lands today: The Central Bank of Egypt will publish inflation figures for August this morning. Price growth has crept up over the past\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":604660,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/10\/what-were-tracking-on-10-december\/","url_meta":{"origin":618049,"position":5},"title":"What we\u2019re tracking on 10 December","author":"enterpriseam admin","date":"10 December 2018","format":false,"excerpt":"It\u2019s all about the money this morning: From multilateral institutions to Big Oil and homegrown VC funds, this morning\u2019s headlines are dominated by announcements of several bn USD in fresh investment and financing. Funds from multilateral institutions are flowing to the private sector and infrastructure, and private sector companies have\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/618049","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=618049"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/618049\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/618047"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/618050"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=618049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=618049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=618049"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=618049"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=618049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}