{"id":639815,"date":"2024-08-15T00:00:00","date_gmt":"2024-08-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/15\/madbouly-now-needs-to-sign-off-on-any-factory-closures\/"},"modified":"2024-08-15T00:00:00","modified_gmt":"2024-08-15T00:00:00","slug":"madbouly-now-needs-to-sign-off-on-any-factory-closures","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/15\/madbouly-now-needs-to-sign-off-on-any-factory-closures\/","title":{"rendered":"Madbouly now needs to sign off on any factory closures"},"content":{"rendered":"

Good morning, all. <\/strong>We have a brisk issue for you this morning to wrap up the workweek. We have the rundown on the brand new Thanaweya Amma system and all the earnings that came out over the past 24 hours. <\/p>\n

WATCH THIS SPACE- <\/p>\n

<\/a> #1- <\/strong>Car impo<\/strong>rts made easier for dealerships and diplomats: <\/strong>Authorities have resumed issuing ACID numbers \u2014 a unique ID number that importers obtain for their shipments \u2014 exclusively for car dealerships and diplomats, a source at the Customs Authority told Enterprise. Nearly 50 ACID numbers have been generated, representing hundreds of cars of various models. Other personal or commercial car imports remain suspended until further notice.<\/p>\n

Behind the decision:<\/strong> The move was prompted by a recommendation from the Trade Ministry following extensive lobbying by major car dealerships, who faced significant delays in getting their cars released from local ports, sources in the automotive market told us. The delays threatened contracts and future investments from car manufacturers and exacerbated the severe shortage of new cars on the market. Meanwhile, diplomats made the cut because of the principle of reciprocity. <\/p>\n

\n

\n

<\/a> #2- Hapag-Lloyd to avoid the Red Sea until year end: <\/strong>German shipping giant Hapag-Lloyd will continue to steer its container ships away from the Red Sea through the end of 2024, instead opting to send its vessels around the Cape of Good Hope, CEO Rolf Jansen told Reuters<\/a>. <\/p>\n

Bad news for our Suez Canal revenues:<\/strong> The shipping company is one of a number of firms<\/a> that began rerouting their ships away from the Red Sea last winter in light of ongoing attacks by Yemen\u2019s Houthis on shipping traffic. Disruptions in the Red Sea have hit Suez Canal revenues \u2014 a major source of FX \u2014 hard, with Suez Canal Authority head Osama Rabie noting in July that revenues from the canal had fallen some 23% y-o-y<\/a> during FY 2023-2024 to USD 7.2 bn.<\/p>\n

SMART POLICY-<\/p>\n

<\/a> Madbouly will now need to sign off on industrial factories going offline: <\/strong>Industrial facilities now require the greenlight from Prime Minister Moustafa Madbouly to shut down operations, Madbuoly said<\/a> at yesterday's cabinet meeting. <\/p>\n

Remember: <\/strong>We heard Monday<\/a> that no industrial facility could be closed without getting the greenlight from Transport and Industry Minister Kamel El Wazir.<\/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

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PSA- <\/p>\n

WEATHER- <\/strong>It\u2019s still hot in Cairo today, with a high of 36\u00b0C and a low of 26\u00b0C, according to our favorite weather app.<\/p>\n

It\u2019s a bit cooler in Alexandria<\/strong>, with a high of 33\u00b0C and a low of 25\u00b0C.<\/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

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

A handful of stories are vying for your attention in the foreign business press <\/strong>this morning.<\/strong> Getting top billing: <\/p>\n

#1- Donald Trump promised to \u201cmake America affordable again\u201d and to impose foreign tariffs on \u201ccountries that have been ripping us off,\u201d <\/strong>as well as slash energy costs, if he\u2019s elected, in a wide-ranging speech aimed at clarifying his economic policy ahead of debates with opponent Kamala Harris. (Wall Street Journal<\/a>) <\/p>\n

#2- Google will be required to make reforms to its Play Store on Android <\/strong>following a court ruling that accused it of being a \u201cmonopolist.\u201d (Reuters<\/a>)<\/p>\n

#3- Berkshire Hathaway\u2019s Warren Buffet confirmed the firm halved its stake in Apple<\/strong>, and cut stakes in Capital One, Chevron, and T-Mobile, and completely exited its stake in cloud computing software Snowflake and Paramount Global, in a shift towards cash and short-term Treasuries amid a wider sell-off on Wall Street in 2Q 2024. Hathaway dumped more than USD 77 bn shares in the quarter. (Financial Times<\/a>) <\/p>\n

#4- Starbucks\u2019 new CEO Brian Niccol will receive a pay package worth up to USD 113 mn<\/strong>, one of the largest in US corporate history. (FT<\/a>) <\/p>\n

ON THE AI FRONT- Apple is reportedly pushing ahead with a tabletop iPad-like device with a robotic limb<\/strong>, aimed at becoming a smart home command center, as it looks for new ways to boost its revenues. (Bloomberg<\/a>)<\/p>\n

ALSO- Gaza ceasefire talks in limbo: <\/strong>Ceasefire talks scheduled for today and set to be brokered by Qatar and Egypt should be moving forward despite Hamas\u2019 refusal to participate following a series of Israeli attacks on Gaza and additional demands from the Israeli side, a US State Department spokesperson told the New York Times<\/a>. Two officials briefed on the talks said that Hamas could still be willing to hear mediators out after the meeting if Israel put forward a \u201cserious response\u201d to Hamas\u2019s latest offer, from early July.<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, all. We have a brisk issue for you this morning to wrap up the workweek. We have the rundown on the brand new Thanaweya Amma system and all the earnings that came out over the past 24 hours. 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restrictions","rel":"","context":"In "Automotive"","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/11\/610.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":650801,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/10\/auto-sales-fall-for-the-first-time-in-five-months-in-august\/","url_meta":{"origin":639815,"position":1},"title":"Auto sales fall for the first time in five months in August","author":"enterpriseam admin","date":"10 October 2024","format":false,"excerpt":"The decline was driven by car and bus sales","rel":"","context":"In "Automotive"","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/805.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":678443,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/12\/25\/mti-adm-move-to-corner-ultra-luxury-auto-market-with-new-rolls-royce-lamborghini-dealerships-as-gray-market-fades\/","url_meta":{"origin":639815,"position":2},"title":"MTI, ADM move to corner ultra-luxury auto market with new Rolls-Royce, Lamborghini dealerships as gray market fades","author":"enterpriseam admin","date":"25 December 2025","format":false,"excerpt":"While many sectors struggled, the devaluation of the EGP turned luxury vehicles into attractive assets that store or even appreciate in value","rel":"","context":"In "Automotive"","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/12\/1250.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":646053,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/05\/what-were-tracking-on-05-june-2017\/","url_meta":{"origin":639815,"position":3},"title":"What we\u2019re tracking on 05 June 2017","author":"enterpriseam admin","date":"5 June 2017","format":false,"excerpt":"In proof that organizational skills are not beyond us when we don\u2019t want them to be, Egypt, the UAE, Saudi Arabia and Bahrain simultaneously broke off diplomatic ties with Qatar this morning, according to official statements from all four countries released just about an hour before dispatch time. All four\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":547587,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/28\/could-the-auto-industry-get-some-much-needed-reprieve\/","url_meta":{"origin":639815,"position":4},"title":"Could the auto industry get some much-needed reprieve?","author":"enterpriseam admin","date":"28 June 2022","format":false,"excerpt":"PM Madbouly seeks to reassure automotive players on stymied car imports: Prime Minister Moustafa Madbouly has directed his ministers, the central bank, and the banking sector to coordinate on setting up \u201ca mechanism for the orderly release of car shipments\u201d from ports, according to a cabinet statement. Madbouly\u2019s directive came\u2026","rel":"","context":"In "Automotive"","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/321.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":599606,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/03\/local-car-dealers-call-for-consumer-protection-authority-intervention\/","url_meta":{"origin":639815,"position":5},"title":"Local car dealers call for Consumer Protection Authority intervention","author":"enterpriseam admin","date":"3 January 2019","format":false,"excerpt":"Egypt\u2019s Car Dealers Association (CDA) has called on the Consumer Protection Authority (CPA) to take the necessary action to prevent European auto dealerships from monopolizing the industry, according to Al Mal. The call comes two days after customs duties on fully assembled EU cars fell to 0%. The CDA said\u2026","rel":"","context":"In "Automotive + Transportation"","block_context":{"text":"Automotive + Transportation","link":"https:\/\/enterpriseam.com\/egypt\/category\/automotive-transportation\/"},"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\/639815","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=639815"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/639815\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/639813"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/639816"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=639815"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=639815"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=639815"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=639815"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=639815"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}