{"id":646905,"date":"2024-10-03T00:00:00","date_gmt":"2024-10-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/could-maait-be-the-next-imf-executive-director-representing-arab-states\/"},"modified":"2024-10-03T00:00:00","modified_gmt":"2024-10-03T00:00:00","slug":"could-maait-be-the-next-imf-executive-director-representing-arab-states","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/03\/could-maait-be-the-next-imf-executive-director-representing-arab-states\/","title":{"rendered":"Could Maait be the next IMF executive director representing Arab states"},"content":{"rendered":"

Good m<\/strong>ornin<\/strong>g, all.<\/strong> We got another packed issue for you this morning to wrap up one busy week.<\/p>\n

<\/a> BEFORE WE DIVE IN- We are heading into a three-day weekend. <\/strong>The private and public sectors, as well as banks and the EGX, are taking Sunday off in observance of Armed Forces Day. <\/p>\n

That means EnterpriseAM Egypt won\u2019t be landing in your inbox on Sunday<\/strong>, but we will be back in your inbox at our customary time on Monday. <\/p>\n

WATCH THIS SPACE- <\/p>\n

<\/a> Could <\/strong>Maait <\/strong>succeed Mohieldin at the IMF?<\/strong> Former Finance Minister Mohamed Maait is the top candidate to replace Mahmoud Mohieldin as the IMF\u2019s executive director representing Arab states and the Maldives, an informed source tells Enterprise. The expected appointment comes as Mohieldin\u2019s second term in the position \u2014 which he has held since 2020 \u2014 comes to an end.<\/p>\n

HAPPENING TODAY- <\/p>\n

<\/a> #1- <\/strong>Non-oil private sector to continue growing? <\/strong>S&P Global will publish Egypt\u2019s PMI figures for September this morning at 6:15 CLT, measuring the country\u2019s non-oil private sector activity. Last month\u2019s non-oil private sector activity expanded<\/a> for the first time in over three years.<\/p>\n

<\/a> #2- <\/strong>Cairo Sustainable Energy Week<\/a><\/strong> wraps up today<\/strong>: <\/strong>Under the theme Building a World that Sustains, the three-day event at the Nile Ritz-Carlton in Cairo is gathering ministers and private sector players from across the Arab world to discuss renewable energy, grid interconnection projects, sustainable development, and everything in between. <\/p>\n

On the agenda for the conference\u2019s last day<\/strong> are sessions on energy efficiency, women in the sector, AI, the importance of biodiversity, wind power in the region, and more. You can check out the full agenda on the event\u2019s website<\/a>.<\/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

PSA- <\/p>\n

WEATHER- It\u2019s another cool day in Cairo<\/strong>, with a high of 30\u00b0C and a low of 22\u00b0C, according to our favorite weather app.<\/p>\n

It\u2019s more or less the same in Alexandria<\/strong>, which will be seeing a high of 29\u00b0C and a low of 22\u00b0C.<\/p>\n

And over the weekend<\/strong>, expect to see a high of 31\u00b0C and a low of 21\u00b0C in the capital. <\/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

It\u2019s a mixed picture on the front pages of the foreign press today<\/strong>, with updates on Israel\u2019s invasion of and attacks on Lebanon, speculation over Israel\u2019s potential methods of retaliation for Iran\u2019s attacks earlier this week, and OpenAI\u2019s latest funding round grabbing headlines. <\/p>\n

<\/a> #1- Israel bombed central Beirut for the second time this week<\/strong>, killing at least six in an attack on a medical center in the heart of the city<\/strong>, Reuters<\/a> reports. Israel missiles also continued to target southern suburbs of the city. Israel\u2019s ground offensive in Lebanon has also killed eight Israeli soldiers in the first day after its launch, the Washington Post<\/a> reports. <\/p>\n

The US and other G7 partners are working on limiting Israel\u2019s response to Iran\u2019s attacks <\/strong>earlier this week<\/a><\/strong> and deterring it from attacking the latter\u2019s nuclear facilities<\/strong>, which some officials have called for, the Financial Times<\/a> reports. US President Joe Biden said he would not support such an attack, signaling plans to sit down with Israeli Prime Minister Benjamin Netanyahu to advise on Israel\u2019s response, and to escalate sanctions on Iran, Bloomberg<\/a> reports separately. <\/p>\n

The escalation of attacks across the region has forced airlines to take longer paths over Egyptian and Saudi airspace to avoid shuttered airspace<\/strong>, Bloomberg<\/a> said, citing flight tracking data on FlightRadar24.<\/p>\n

#2- OpenAI\u2019s <\/strong>secured<\/a><\/strong> USD 6.6 bn in fresh funding<\/strong>, giving the company a whopping valuation of USD 157 bn, with backing from Microsoft, Nvidia, and Josh Kushner\u2019s VC firm Thrive Capital, which led the round, Bloomberg<\/a> reports. Abu Dhabi tech investor MGX also participated in the funding round \u2014 we have more in the news well, below. Notably absent from the funding round is Apple, who was said to potentially invest in the firm earlier. <\/p>\n

The funding will be used to \u201cdouble down\u201d on AI research and increase computing capacity<\/strong>, the statement said. The startup also reportedly asked its investors for exclusive arrangements to stop them from investing in other rival AI startups, the Financial Times<\/a> reports, citing multiple sources. <\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, all. We got another packed issue for you this morning to wrap up one busy week. BEFORE WE DIVE IN- We are heading into a three-day weekend. The private and public sectors, as well as banks and the EGX, are taking Sunday off in observance of Armed Forces Day. That means EnterpriseAM Egypt […]<\/p>\n","protected":false},"author":1,"featured_media":646906,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[72,277,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-646905","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-enterpriseam","tag-mohamed-maait","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"19ebf22d-dfa4-4fc4-ac49-1b665b4c9da4","order":"2","is_powered_by":true,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/10\/268.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Could Maait be the next IMF executive director representing Arab states","related_issue":[646903],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.e07975ae-bc6e-4e6e-bee6-c735ae123c67.mp3"},"yoast_head":"\nCould Maait be the next IMF executive director representing Arab states - 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\/10\/03\/could-maait-be-the-next-imf-executive-director-representing-arab-states\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Could Maait be the next IMF executive director representing Arab states\" \/>\n<meta property=\"og:description\" content=\"Good morning, all. We got another packed issue for you this morning to wrap up one busy week. BEFORE WE DIVE IN- We are heading into a three-day weekend. The private and public sectors, as well as banks and the EGX, are taking Sunday off in observance of Armed Forces Day. 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Maait joined Sherif Amer on Yahduth Fi Masr last night to talk all things economy (watch, runtime: 22:02 | 16:40).The IMF and Maait agree \u2014 we\u2019re on the right track: \u201cThe Egyptian economy is now heading in a\u2026","rel":"","context":"In "LAST NIGHT\u2019S TALK SHOWS"","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1057.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":654021,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/27\/maait-named-imf-executive-director-for-arab-states-and-the-maldives\/","url_meta":{"origin":646905,"position":1},"title":"Maait named IMF executive director for Arab states and the Maldives","author":"enterpriseam admin","date":"27 October 2024","format":false,"excerpt":"Maait replaces Mahmoud Mohieldin, who has held the position for four years","rel":"","context":"In "Moves"","block_context":{"text":"Moves","link":"https:\/\/enterpriseam.com\/egypt\/category\/newsmakers\/moves\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2268.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":625125,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/27\/what-were-tracking-this-week-and-beyond-95\/","url_meta":{"origin":646905,"position":2},"title":"What we\u2019re tracking this week and beyond","author":"enterpriseam admin","date":"27 September 2018","format":false,"excerpt":"The African Development Bank (AfDB) will reportedly disburse the third and final USD 500 mn tranche of a USD 1.5 bn loan to Egypt \u201cwithin days.\u201dThe 2018 Narrative PR Summit will take place at the Four Seasons Nile Plaza on Sunday, 28 October with participants including friends ranging from the\u2026","rel":"","context":"In "Up Next"","block_context":{"text":"Up Next","link":"https:\/\/enterpriseam.com\/egypt\/category\/up-next\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":622434,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/01\/what-were-tracking-this-week-and-beyond-62\/","url_meta":{"origin":646905,"position":3},"title":"What we\u2019re tracking this week and beyond","author":"enterpriseam admin","date":"1 October 2018","format":false,"excerpt":"The House of Representatives is due back in session on Tuesday, 2 October at 10am.It\u2019s PMI week: The purchasing managers\u2019 index for Egypt, Saudi, and the UAE is due out on Wednesday, 3 October. Melania Trump is coming to Egypt this week as part of a trip to Africa to\u2026","rel":"","context":"In "Up Next"","block_context":{"text":"Up Next","link":"https:\/\/enterpriseam.com\/egypt\/category\/up-next\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":607139,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/27\/maait-confirms-oil-hedge\/","url_meta":{"origin":646905,"position":4},"title":"Maait confirms oil hedge","author":"enterpriseam admin","date":"27 September 2023","format":false,"excerpt":"Good morning, everyone. It\u2019s the last day of the workweek (and last workday of September) for all of us here in Egypt, and a three-day break couldn\u2019t have come soon enough. We hope you\u2019re looking forward to unwinding as much as we are. THE BIG STORY THIS MORNING is word\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\/2023\/9\/1613.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":627342,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/30\/fifth-imf-loan-tranche-to-be-disbursed-in-early-2019-maait\/","url_meta":{"origin":646905,"position":5},"title":"Fifth IMF loan tranche to be disbursed in early 2019 -Maait","author":"enterpriseam admin","date":"30 July 2018","format":false,"excerpt":"Egypt is expected to receive the fifth tranche of its USD 12 bn extended fund facility from the IMF in early 2019, Finance Minister Mohamed Maait told Al Mal yesterday. An IMF delegation is scheduled to visit in November to conduct a fourth review of the economic reform agenda ahead\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\/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\/646905","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=646905"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/646905\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/646903"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/646906"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=646905"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=646905"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=646905"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=646905"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=646905"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}