{"id":650898,"date":"2024-10-13T00:00:00","date_gmt":"2024-10-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/13\/russia-wants-to-de-dollarize-brics\/"},"modified":"2024-10-13T00:00:00","modified_gmt":"2024-10-13T00:00:00","slug":"russia-wants-to-de-dollarize-brics","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/13\/russia-wants-to-de-dollarize-brics\/","title":{"rendered":"Russia wants to de-dollarize Brics"},"content":{"rendered":"

G<\/strong>ood mo<\/strong>rning, friends. <\/strong>We have a brisk issue for you to kick off the workweek. <\/p>\n

PSA- <\/p>\n

WEATHER- After a few cool days, the mercury is rising again. <\/strong>Cairo is expected to see a high of 34\u00b0C and a low of 24\u00b0C today, according to our favorite weather app.<\/p>\n

It\u2019s cooler in Alexandria<\/strong>, with a high of 31\u00b0C and a low of 21\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

\n

\n

SUNDAY MORNING SHOUT-OUT to our good friend Courtney Bailey<\/strong>, one of just 37 elementary- and middle-school principals from the United States and around the world to receive the 2024 National Association of Elementary School Principals Distinguished Principal Award<\/a><\/strong>. Courtney and the other award recipients were in Washington, DC, this past weekend for two days of activities that wrapped up with a banquet in their honor. <\/p>\n

Courtney has been principal at Cairo American College's Middle School for the past 11 <\/strong>years<\/strong>, where he's made a difference in the lives of hundreds and hundreds of children \u2014 not least of which was the now-Resident Seventeen Year Old. He\u2019s also had an outsized impact on families and on our wider community. We can think of few other people in any industry or walk of life as deserving of global recognition as he is. You can learn more about Courtney here<\/a>. <\/p>\n

SIGN OF THE TIMES-<\/p>\n

<\/a> A new Brics payment system to push against dollarization in the works? <\/strong>Russia is pushing for the nine-member bloc that includes Egypt to adopt changes to how local currency transactions are made between member nations to bypass the world\u2019s dominant financial systems in a report (pdf)<\/a> produced by the Russian state. The report argues that by more closely linking and enabling local currency transactions between commercial banks and also central banks in a network, in addition to using distributed ledger technology or a token system, they will be able to bolster bilateral trade between member nations and \u201cring-fence its participants from any external pressures such as extraterritorial sanctions.\u201d<\/p>\n

The timeline:<\/strong> \u201cWe plan to create payment and settlement solutions that will be acceptable to all participants within a year. And within five years, we hope to see other financial market tools being integrated as well, including those in ins. and credit ratings,\u201d Russian Finance Minister Anton Siluanov in comments<\/a> on the report\u2019s launch.<\/p>\n

There are also calls for Brics to launch its own IMF: <\/strong>Russia is also calling for the creation of an alternative to the Fund, arguing that the current global financial system is dominated by Western nations \u2014 who often use this a tool to pressure nations \u2014 and that new financial institutions are needed to better serve Brics nations, which now make up over 36% of the global economy. <\/p>\n

The why: <\/strong>Russia is pushing the idea in the run up to its hosting the Brics Summit<\/a> later this month on 22-24 October, following years of economic hardship after Western-led sanctions following its invasion of Ukraine in 2022. Around half of the country\u2019s foreign currency reserves \u2014 amounting to USD 350 bn \u2014 have been frozen<\/a> and the banking sector has been excluded from the Swift international payments network.<\/p>\n

It looks like Egypt is open to the idea:<\/strong> Egypt is also seeking reforms to the international monetary system to create a more inclusive system that serves the interests of emerging markets, Finance Minister Ahmed Kouchouk said at a ministerial meeting<\/a> in Russia in the run up to the summit.<\/p>\n

Egypt wants more from dev banks: <\/strong>\u201cWe want to increase the volume and amount of multilateral concessional financing we\u2019re getting from development banks, international institutions, and bilateral partners,\u201d Kouchouk said. He also called for more blended finance to boost cross-border partnership between the public and private sectors. <\/p>\n

SPEAKING OF THE IMF- The Fund is slashing surcharges <\/strong>\u2014 additional fees imposed on countries that borrow beyond their quota or delay loan repayments \u2014 by 36% on average starting 1 November, IMF Managing Director Kristalina Georgieva said in a statement<\/a> on Friday following a review<\/a> of the policy. The move comes amid rising concerns that the rising financial burden \u2014 especially with the global high-interest rate environment \u2014 can be counterproductive to the aims of the original financial support and unfairly punishes struggling nations.<\/p>\n

This is good news for Egypt: <\/strong>Egypt is the Fund\u2019s second largest<\/a> debtor with USD 13.3 bn \u2014 behind only Argentina. Before the decision, Egypt had been forecasted to pay the IMF USD 646 mn in surcharges over the next five years \u2014 marking it as the world\u2019s fourth largest surcharge payer<\/a> \u2014 according to the Centre for Economic Policy Research.<\/p>\n

\n
\n
\n
\n

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

HAPPENING TODAY-<\/p>\n

<\/a> #1- It\u2019s day one of <\/strong>Cairo Water Week<\/a><\/strong>: <\/strong>The annual Cairo Water Week will open its doors in a few hours at Cairo\u2019s Triumph Luxury Hotel, welcoming representatives from the private and public sectors from home and abroad to discuss the importance of water management, climate change, and much more. The event will run until Thursday under the theme Water and Climate: Building Resilient Communities. Check out the week\u2019s agenda<\/a> and register to attend<\/a> on the event\u2019s official website. <\/p>\n

\n

\n

#2- <\/strong>Attention, executives: <\/strong>The AUC School of Business is hosting a webinar<\/a> for those interested in its next upcoming executive MBA program<\/a> \u2014 whose 30 November application deadline is fast approaching. Jumping on the call will be professor Ayman Ismail along with Zilla Capital Managing Partner Moustafa El Shenety and Softi Managing Director Engy El Barkouki \u2014 two alumni of the program. You can find the link to register<\/a> on the Newton Education Services\u2019 socials. <\/p>\n

\n

HAPPENING THIS WEEK- <\/p>\n

#1- GEM to launch partial trial operations on Wednesday ahead of grand opening<\/strong>, Prime Minister Moustafa Madbouly said in a televised statement<\/a>. The initial phase will see the museum\u2019s main hall opened, with other sections to follow in a phased rollout ahead of a grand official inauguration.<\/p>\n

\n

\n

<\/a> #2- It\u2019s interest rate decision time: <\/strong>The Central Bank of Egypt\u2019s Monetary Policy Committee will meet this Thursday to decide on our interest rate trajectory. Belief among analysts that a potential cut is still off the table was bolstered by September\u2019s inflation data<\/a>, which showed inflation accelerating for the second consecutive month.<\/p>\n

Remember: <\/strong>The central bank left interest rates unchanged in its last meeting in September<\/a>, citing cooling domestic and global inflation, an uncertain local trajectory for commodity prices, and slow economic growth. Rates have been stable since March, when the central bank delivered a jumbo 600 bps rate hike<\/a> that accompanied the float of the EGP.<\/p>\n

DATA POINT-<\/p>\n

Shipping volume passing through the Suez Canal was <\/strong>down 70%<\/a><\/strong> y-o-y in 3Q 2024<\/strong>, as shipping lines continue to divert away from the route amid continued Houthi attacks on passing vessels, according to data from the IMF\u2019s PortWatch<\/a>.<\/p>\n

\n

WATCH THIS SPACE- <\/p>\n

<\/a> #1- State statistics agency <\/strong>Capmas<\/strong> will launch a national survey on international <\/strong>migration tomorrow<\/strong>, according to a statement from the agency cited by local media outlets<\/a>. The survey aims to collect data on migrant demographics and trends, as well as factors influencing migration. This initiative will be funded by the EU and done in partnership with the International Organization for Migration.<\/p>\n

\n

\n

<\/a> #2- The General Authority for Investment and Freezones (GAFI) will set up five <\/strong>more freezones<\/strong> under the special freezones system in response to investor demand, an unnamed government official told Al Arabiya<\/a>. The new zones will be located in Greater Cairo and New Alamein and will cover various sectors. The in-the-works zones are in addition to the six<\/a>areas<\/a> already listed in GAFI\u2019s plan for next year.<\/p>\n

ENTERPRISEAM IS LOOKING FOR SMART, TALENTED PEOPLE of all backgrounds to help us build some very cool new things.<\/strong> EnterpriseAM \u2014 the essential morning read on all the important news shaping business and the economy in Egypt, GCC, and the wider region \u2014 is looking for writers, reporters, and editors to help us build out new publications.<\/p>\n

NEVER WORKED IN A NEWSROOM BEFORE?<\/strong> We have the EnterpriseAM Business Writing Development Program. Whether you are a recent graduate, an industry vet, or looking to switch careers, the EnterpriseAM Business Writing Development Program will give you the tools you need to tell the most important stories to our audience of C-suite officials, government ministers, diplomats, financiers, investors, and entrepreneurs.<\/p>\n

Not an internship program \u2014 a career: <\/strong>The three-month program will see full-time, paid participants take part in workshops and lectures from veteran business journalists on subject matter knowledge, while also working on constructing and filing EnterpriseAM stories that will run on any of our publications. Those who have successfully completed the program, will then be given long-term job offers.<\/p>\n

Apply directly to jobs@enterprisemea.com and mention \u201cwriting development program\u201d<\/strong> in your subject line.<\/p>\n

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

Israel expands its attacks on Lebanon: <\/strong>Israel ordered<\/a> the evacuation of new locations in Lebanon yesterday as it ramped up its attacks. Yesterday\u2019s attacks across three different areas across the country \u2014 including one that was previously untouched \u2014 killed no less than 15 and injured 37 others. <\/p>\n

Attacks on Gaza continue:<\/strong> Israeli forces ramped up their airstrikes in northern Gaza on Saturday, killing at least 29 Palestinians in the Jabaliya area. Residents in northern Gaza have not received any food aid since 1 October according to the UN World Food Program, which estimates that around 400k Gazans remain in the area. The UN independent food rights investigator has accused Israel of carrying a \u201cstarvation campaign,\u201d a claim that Israel denies. (Reuters<\/a> | Associated Press<\/a>)<\/p>\n

AND IN BUSINESS NEWS- Boeing announced plans to cut 17k jobs \u2014 nearly 10% <\/strong>of its workforce \u2014 and delay its delivery of the 777X jet<\/strong> as the embattled company enters its fifth week of a machinists\u2019 strike that has brought production of two of its models to a standstill. The company is currently waiting for the US\u2019 National Labor Relations Board to rule on the unfair labor practice charge Boeing filed against the machinists\u2019 union last week.<\/p>\n

Boeing is feeling the pain: <\/strong>The machinists\u2019 strike comes after a particularly difficult year for the company, which has come under considerable scrutiny after a high-profile accident on one of its planes in January prompted questions about the airplane manufacturer\u2019s safety protocols and encouraged regulators to limit its production. S&P Global Ratings warned last week that Boeing\u2019s bonds could soon be downgraded to junk status, estimating that the strike is costing the airplane manufacturer around USD 1 bn per month. (Financial Times<\/a> | Reuters<\/a> | CNBC<\/a>).<\/p>\n

AND- The 2024 Nobel Peace Prize <\/strong>went to Japan\u2019s Nihon Hidankyo<\/a><\/strong>, a group of atomic bomb survivors who have dedicated their lives to push for \u201ca world free of nuclear weapons\u201d and demonstrate \u201cthrough witness testimony that nuclear weapons must never be used again.\u201d (DW<\/a> | Reuters<\/a> | BBC<\/a> | New York Ti<\/a>mes<\/a>) <\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, friends. We have a brisk issue for you to kick off the workweek. PSA- WEATHER- After a few cool days, the mercury is rising again. Cairo is expected to see a high of 34\u00b0C and a low of 24\u00b0C today, according to our favorite weather app. It\u2019s cooler in Alexandria, with a high […]<\/p>\n","protected":false},"author":1,"featured_media":650899,"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":[7270,72,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-650898","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-brics","tag-enterpriseam","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"647550cc-d91a-4aaf-b19c-179e0363316a","order":"2","is_powered_by":true,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/10\/936.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Russia wants to de-dollarize Brics","related_issue":[650896],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.75790b58-9e4f-4db1-8ce3-5cc9960ba7dc.mp3"},"yoast_head":"\nRussia wants to de-dollarize Brics - 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\/13\/russia-wants-to-de-dollarize-brics\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Russia wants to de-dollarize Brics\" \/>\n<meta property=\"og:description\" content=\"Good morning, friends. We have a brisk issue for you to kick off the workweek. PSA- WEATHER- After a few cool days, the mercury is rising again. Cairo is expected to see a high of 34\u00b0C and a low of 24\u00b0C today, according to our favorite weather app. It\u2019s cooler in Alexandria, with a high […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/13\/russia-wants-to-de-dollarize-brics\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-13T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/936.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"9 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/13\/russia-wants-to-de-dollarize-brics\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/13\/russia-wants-to-de-dollarize-brics\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Russia wants to de-dollarize Brics\",\"datePublished\":\"2024-10-13T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/13\/russia-wants-to-de-dollarize-brics\/\"},\"wordCount\":1822,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/13\/russia-wants-to-de-dollarize-brics\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/936.jpg?fit=%2C&ssl=1\",\"keywords\":[\"BRICS\",\"EnterpriseAM\",\"What We're Tracking Today\"],\"articleSection\":[\"What We're Tracking Today\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/13\/russia-wants-to-de-dollarize-brics\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/13\/russia-wants-to-de-dollarize-brics\/\",\"name\":\"Russia wants to de-dollarize Brics - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/13\/russia-wants-to-de-dollarize-brics\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/13\/russia-wants-to-de-dollarize-brics\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/936.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-10-13T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/13\/russia-wants-to-de-dollarize-brics\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/13\/russia-wants-to-de-dollarize-brics\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/13\/russia-wants-to-de-dollarize-brics\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/936.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/936.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/10\/13\/russia-wants-to-de-dollarize-brics\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Russia wants to de-dollarize Brics\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Russia wants to de-dollarize Brics - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/13\/russia-wants-to-de-dollarize-brics\/","og_locale":"en_US","og_type":"article","og_title":"Russia wants to de-dollarize Brics","og_description":"Good morning, friends. We have a brisk issue for you to kick off the workweek. PSA- WEATHER- After a few cool days, the mercury is rising again. Cairo is expected to see a high of 34\u00b0C and a low of 24\u00b0C today, according to our favorite weather app. It\u2019s cooler in Alexandria, with a high […]","og_url":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/13\/russia-wants-to-de-dollarize-brics\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2024-10-13T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/936.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"9 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/13\/russia-wants-to-de-dollarize-brics\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/13\/russia-wants-to-de-dollarize-brics\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Russia wants to de-dollarize Brics","datePublished":"2024-10-13T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/13\/russia-wants-to-de-dollarize-brics\/"},"wordCount":1822,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/13\/russia-wants-to-de-dollarize-brics\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/936.jpg?fit=%2C&ssl=1","keywords":["BRICS","EnterpriseAM","What We're Tracking Today"],"articleSection":["What We're Tracking Today"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/13\/russia-wants-to-de-dollarize-brics\/","url":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/13\/russia-wants-to-de-dollarize-brics\/","name":"Russia wants to de-dollarize Brics - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/13\/russia-wants-to-de-dollarize-brics\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/13\/russia-wants-to-de-dollarize-brics\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/936.jpg?fit=%2C&ssl=1","datePublished":"2024-10-13T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/13\/russia-wants-to-de-dollarize-brics\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2024\/10\/13\/russia-wants-to-de-dollarize-brics\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/13\/russia-wants-to-de-dollarize-brics\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/936.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/936.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/13\/russia-wants-to-de-dollarize-brics\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Russia wants to de-dollarize Brics"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/936.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/936.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/936.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":653953,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/24\/the-lowdown-on-the-brics-summit\/","url_meta":{"origin":650898,"position":0},"title":"The lowdown on the Brics summit","author":"enterpriseam admin","date":"24 October 2024","format":false,"excerpt":"Good afternoon, friends, and a very happy Thursday. We\u2019re looking forward to a weekend of good weather, exciting matches, and a plethora of activities after a long newsweek.THE BIG STORY TODAY It\u2019s a wrap for the Brics Summit in Russia: The heads of Brics nations \u2014 including President Abdel Fattah\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":[]},{"id":667976,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/07\/07\/net-foreign-assets-in-egypts-banking-sector-see-uptick\/","url_meta":{"origin":650898,"position":1},"title":"Net foreign assets in Egypt\u2019s banking sector see uptick","author":"enterpriseam admin","date":"7 July 2025","format":false,"excerpt":"Good afternoon, friends. It\u2019s another calm day as far as the news cycle is concerned, and we\u2019ve got a brisk issue for you. THE BIG STORY TODAY Net foreign assets in the banking sector increased nearly 10% in May to USD 14.7 bn, up USD 1.2 bn from April, according\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\/2024\/11\/2177.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":608803,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/25\/this-evening-brics-is-mulling-its-first-syndicated-loan-that-could-include-egypt\/","url_meta":{"origin":650898,"position":2},"title":"THIS EVENING: BRICS is mulling its first syndicated loan that could include Egypt","author":"enterpriseam admin","date":"25 October 2023","format":false,"excerpt":"Good afternoon and happy near-Thursday. We can see the weekend around the corner as we come to a close to this sluggish news week.THE BIG STORY TODAYBRICS eyes its first-ever syndicated loan and we may get a slice: The New Development Bank, established by the BRICS group of emerging economies,\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\/2022\/6\/217.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":653898,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/24\/el-sisi-joins-other-heads-of-brics-nations-in-the-summits-first-plenary-session\/","url_meta":{"origin":650898,"position":3},"title":"El Sisi joins other heads of Brics nations in the summit\u2019s first plenary session","author":"enterpriseam admin","date":"24 October 2024","format":false,"excerpt":"El Sisi told the leaders that Egypt is fully behind efforts to enhance cooperation efforts tackling global challenges","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\/2024\/10\/2123.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":653868,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/23\/we-now-have-a-list-of-the-first-five-airports-to-be-offered-for-operation-management-by-private-players\/","url_meta":{"origin":650898,"position":4},"title":"We now have a list of the first five airports to be offered for operation, management by private players","author":"enterpriseam admin","date":"23 October 2024","format":false,"excerpt":"Good afternoon, folks, and a happy almost weekend to you all.THE BIG STORY TODAY Five major airports slated for first phase of private sector offerings: The first phase of the government\u2019s plan to bring private investors to develop, manage, and operate Egyptian airports will offer up five airports, Al Arabiya\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\/2024\/10\/1572.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":613381,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/14\/this-evening-local-currency-bond-issuance-in-brics-countries-could-be-coming-soon-plus-chevron-to-start-production-in-nargis-gas-field-next-year\/","url_meta":{"origin":650898,"position":5},"title":"THIS EVENING: Local currency bond issuance in BRICS countries could be coming soon. PLUS: Chevron to start production in Nargis gas field next year?","author":"enterpriseam admin","date":"14 January 2024","format":false,"excerpt":"Good afternoon, folks and welcome to the first full week of 2024. Our news cycle is picking up in what looks like a busy week. THE BIG STORIES TODAY #1- Local currency bond issuances in BRICS countries on the horizon:Egypt is aiming to issue bonds in the local currencies of\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\/2021\/12\/376.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\/650898","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=650898"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/650898\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/650896"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/650899"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=650898"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=650898"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=650898"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=650898"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=650898"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}