{"id":641761,"date":"2024-09-02T00:00:00","date_gmt":"2024-09-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/02\/bustling-summer-evenings-are-the-latest-casualty-of-our-economic-and-energy-struggles\/"},"modified":"2024-09-02T00:00:00","modified_gmt":"2024-09-02T00:00:00","slug":"bustling-summer-evenings-are-the-latest-casualty-of-our-economic-and-energy-struggles","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/02\/bustling-summer-evenings-are-the-latest-casualty-of-our-economic-and-energy-struggles\/","title":{"rendered":"Bustling summer evenings are the latest casualty of our economic and energy struggles"},"content":{"rendered":"

Summer evenings were once a respite from the boiling heat and lethargy of Egypt\u2019s<\/strong> midday summer hours<\/strong>, but amid ongoing economic difficulties and crackdowns on nighttime shopping, fun-filled summer nights have become the latest victim of Egypt\u2019s economic crisis, the New York Times<\/a> reports. The paper takes an in-depth look at how businesses are faring as the early closing rules and hard economic times take a chunk out of their bottom lines.<\/p>\n

Early closing times have hit small business hard<\/strong>, with the government instituted a 10pm closing time<\/a> for all non-essential commercial businesses in July slashing footfall. But it\u2019s not just early closing times eating away at small businesses\u2019 bottom lines, writes the outlet, as there are now many consumers who simply cannot afford to keep up their previous consumption habits under the current economic climate.<\/p>\n

ALSO WORTH NOTING FROM THE INT\u2019L PRESS: Continued CBE government lending<\/strong> could end up doing more harm than good<\/strong>, say economists, according to Reuters<\/a>. The newswire takes a look at how an increase in central bank lending to the government in the last fiscal year is expanding the money supply, which in turn could put our current deflationary trajectory at risk and push the EGP to weaken against other currencies.<\/p>\n

By the numbers: <\/strong>Money supply increased by 31.1% y-o-y by the end of the fiscal year 2023-2024, following a 33.4% y-o-y increase in FY 2022-23.<\/p>\n

But its seems we\u2019re now on the right track<\/strong>, as \u201cmoney supply in percent year-on-year terms has slowed from its peak of nearly 50% in February, which may be adding to the momentum of price changes (such as the decline in food inflation) in driving the headline rate of inflation in Egypt down over the course of this year,\u201d Capital Economics\u2019 James Swanston told the newswire. <\/p>\n","protected":false},"excerpt":{"rendered":"

Summer evenings were once a respite from the boiling heat and lethargy of Egypt\u2019s midday summer hours, but amid ongoing economic difficulties and crackdowns on nighttime shopping, fun-filled summer nights have become the latest victim of Egypt\u2019s economic crisis, the New York Times reports. The paper takes an in-depth look at how businesses are faring […]<\/p>\n","protected":false},"author":1,"featured_media":641762,"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":[7233],"tags":[93,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-641761","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-egypt-in-the-news","tag-energy","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"181f0d58-1b29-47aa-9625-24958d8bdf75","order":"11","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/83.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Bustling summer evenings are the latest casualty of our economic and energy struggles","related_issue":[641742],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.5e43df66-8038-4c4f-a121-ce35aeaa30b5.mp3"},"yoast_head":"\nBustling summer evenings are the latest casualty of our economic and energy struggles - 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\/09\/02\/bustling-summer-evenings-are-the-latest-casualty-of-our-economic-and-energy-struggles\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bustling summer evenings are the latest casualty of our economic and energy struggles\" \/>\n<meta property=\"og:description\" content=\"Summer evenings were once a respite from the boiling heat and lethargy of Egypt\u2019s midday summer hours, but amid ongoing economic difficulties and crackdowns on nighttime shopping, fun-filled summer nights have become the latest victim of Egypt\u2019s economic crisis, the New York Times reports. 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El Said reiterated that the government has prepared multiple scenarios for the country\u2019s economic outlook over\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/5\/217.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":598867,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/11\/egypts-non-oil-business-activity-falls-back-into-contraction-territory-in-may\/","url_meta":{"origin":641761,"position":2},"title":"Egypt\u2019s non-oil business activity falls back into contraction territory in May","author":"enterpriseam admin","date":"11 June 2019","format":false,"excerpt":"Non-oil business activity fell back into contraction territory in May: Non-oil business activity contracted in May after having expanded the previous month for the first time since August 2018. The latest purchasing managers\u2019 index fell to 48.2, down from 50.8 in April, signalling \"a moderate deterioration in the health of\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/6\/1122.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":586302,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/09\/credit-crunch-could-slow-us-growth-fed-warns\/","url_meta":{"origin":641761,"position":3},"title":"Credit crunch could slow US growth, Fed warns","author":"enterpriseam admin","date":"9 May 2023","format":false,"excerpt":"The recent banking crisis has increased concern about bank balance sheets","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/485.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":576817,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/04\/your-top-5-pieces-of-business-and-economic-news-in-august\/","url_meta":{"origin":641761,"position":4},"title":"Your top 5 pieces of business and economic news in August","author":"enterpriseam admin","date":"4 September 2020","format":false,"excerpt":"Your top 5 pieces of business and economic news in August: Egypt\u2019s non-oil private sector contracted at its slowest pace in a year in July, according to IHS Markit PMI figures.The Finance Ministry is looking to end tax exemptions enjoyed by financial institutions on returns on government bonds.Blackstone energy developer\u2026","rel":"","context":"In "YOUR TOP 5"","block_context":{"text":"YOUR TOP 5","link":"https:\/\/enterpriseam.com\/egypt\/category\/your-top-5\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":568303,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/24\/last-nights-talk-shows-on-24-december-2020\/","url_meta":{"origin":641761,"position":5},"title":"Last Night\u2019s Talk Shows on 24 December 2020","author":"enterpriseam admin","date":"24 December 2020","format":false,"excerpt":"The Suspendered One is back on the airwaves on Al Qahera Wal Nas, making an appearance on Hadith Al Qahera. Journalist Ibrahim Eissa \u2014 who was last on the airwaves in 2017 before being taken off air for criticizing government officials \u2014 had a sit-down with Finance Minister Mohamed Maait\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/420.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/641761","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=641761"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/641761\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/641742"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/641762"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=641761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=641761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=641761"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=641761"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=641761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}