{"id":653898,"date":"2024-10-24T00:00:00","date_gmt":"2024-10-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/24\/el-sisi-joins-other-heads-of-brics-nations-in-the-summits-first-plenary-session\/"},"modified":"2024-10-24T00:00:00","modified_gmt":"2024-10-24T00:00:00","slug":"el-sisi-joins-other-heads-of-brics-nations-in-the-summits-first-plenary-session","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/24\/el-sisi-joins-other-heads-of-brics-nations-in-the-summits-first-plenary-session\/","title":{"rendered":"El Sisi joins other heads of Brics nations in the summit\u2019s first plenary session"},"content":{"rendered":"

Goo<\/strong>d mornin<\/strong>g, folks. <\/strong>We are wrapping up the week with a packed issue led by comments from Prime Minister Moustafa Madbouly detailing the latest on our USD 8 bn loan program with the IMF and fresh privatization news. <\/p>\n

HAPPENING TODAY-<\/p>\n

<\/a> #1- It\u2019s the last day of the Brics Summit in Russia:<\/strong> The heads of Brics nations \u2014 including President Abdel Fattah El Sisi \u2014 are in the Russian city of Kazan for the last day of the annual Brics Summit. <\/p>\n

What went down yesterday: <\/strong>El Sisi joined other heads of Brics nations in the summit\u2019s first plenary session (watch,<\/a>runtime: 39:05<\/a>) under the title Strengthening Multilateralism for Just Global Development and Security. <\/p>\n

We need new solutions: <\/strong>The president said in a spe<\/a>ech<\/a> to the summit yesterday that the past few years has shown \u201cwithout doubt the inability of the international system to fairly address the conflicts around the world\u201d and pointed to the \u201cpolarization and selectivity that has come to characterize the international system.\u201d<\/p>\n

But the international order\u2019s shortcomings aren\u2019t just limited to conflicts and political <\/strong>issues: <\/strong>The problems with the current system \u201cextend to economic and developmental issues as well,\u201d El Sisi told the summit. He also made reference to debt levels in developing countries, the lack of funding to hit the UN\u2019s Sustainable Development Goals, and the high cost of financing that does exist.<\/p>\n

A more intertwined Brics is part of the solution: <\/strong>El Sisi told the leaders that Egypt is fully behind efforts to enhance cooperation efforts tackling global challenges, and called for joint investment, economic, and development projects to be undertaken \u2014 name checking the agriculture, industry, tech, and renewable energy sectors. Part of this cooperation should include local currency payments between countries and investments being directed with an eye to the comparative advantage that each Brics nation may have in a certain field, El Sisi added. <\/p>\n

It was a busy day 2 for El Sisi: <\/strong>The president met his Palestinian<\/a>, Chinese<\/a>, and Iranian<\/a> counterparts on the sidelines of the conference. Conversations centered around regional tension and boosting cooperation \u2014 Iranian President Masoud Pezeshkian agreed with El Sisi to further develop relations between the countries after decades of frosty relations. <\/p>\n

ICYMI- <\/strong>El Sisi met Russian counterpart Vladimir Putin<\/a> on the sidelines of the first day of the summit. The two discussed Egypt\u2019s role in the bloc, bilateral relationship, and regional and international issues.<\/p>\n

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<\/a> #2- It\u2019s day four of the World Bank and IMF annual meetings: <\/strong>The world\u2019s finance ministers, central bank governors, and other big names in finance and policy are in Washington for the International Monetary Fund and World Bank Group Annual Meetings<\/a>. The six-day meetings kicked off last Monday, and will run all the way to Saturday. Check out the full meeting schedule on the event\u2019s official website<\/a>. <\/p>\n

Missed Al Mashat\u2019s appearance at the conference yesterday? <\/strong>You can check out Planning, Economic Development, and International Cooperation Minister Rania Al Mashat\u2019s input on Agri-Food Systems as an Engine of Sustainable Growth and Job Creation<\/a> on the World Bank\u2019s official YouTube channel<\/a> (runtime: 1:26:22). <\/p>\n

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<\/a> #3- Investment and Foreign Trade Minister Hassan El Khatib begins his visit to the <\/strong>US <\/strong>today<\/strong>, where he\u2019ll be participating in events with the International Monetary Fund, holding meetings with officials from the American Chamber of Commerce and the Egyptian-US Business Council, and engaging with representatives of various investment banks, think-tanks, major US firms, and the Egyptian-American Enterprise Fund, according to a statement<\/a>.<\/p>\n

The visit aims to familiarize the American business community with potential <\/strong>investments available in Egypt<\/strong>, as well as the incentives currently being offered by the government to facilitate investments, the statement reads.<\/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- It\u2019s getting colder in Cairo<\/strong>, with the capital in for a high of 27\u00b0C and a low of 17\u00b0C today, according to our favorite weather app.<\/p>\n

It\u2019s not as cold in Alexandria<\/strong>, with a high of 28\u00b0C and a low of 21\u00b0C.<\/p>\n

And over the weekend, <\/strong>expect to see a high of 28\u00b0C and a low of 17\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

CIRCLE YOUR CALENDAR- <\/p>\n

<\/a> Chapter Zero Egypt is hosting its annual conference on Sunday, 3 November <\/strong>under the theme The Path to Net Zero, it said in a press release (pdf)<\/a>. The event will bring together Planning and International Cooperation Minister Rania Al Mashat, Finance Minister Ahmed Kouchouk, FRA boss Mohamed Farid, and a number of experts for a discussion on Climate Risks in Boardrooms. The conference will also see the initiative ink cooperation protocols with the Financial Regulatory Authority and the World Sustainable Hospitality Alliance.<\/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

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

It\u2019s the first time in a long time that business news makes it to most front pages of the <\/strong>foreign press<\/strong>, as earnings season heats up and aircraft maker Boeing faces its toughest time yet with factory workers set to vote on a contract that could end a five-week strike. <\/p>\n

#1- Boeing reported USD 6 bn in losses that its new CEO Kelly Ortberg chalked up to \u201cserious performance lapses\u201d<\/strong> and an erosion of investor confidence, as factory workers vote on new wage terms that could end their ongoing strike. (Reuters<\/a> | Financial Times<\/a> | Wall Street Journal<\/a>)<\/p>\n

#2- Tesla\u2019s earnings are also getting a lot of ink<\/strong>, with the EV maker reporting a higher than expected bottom line and profitability for its cybertruck, marking a turnaround after a few disappointing quarters. The EV maker now expects 20% growth in vehicle sales next year. Its shares jumped 12% in extended trading on the news. (FT<\/a> | CNBC<\/a> | CNN<\/a>)<\/p>\n

#3- Apple is gearing up to launch its updated Macbook Air with the M4 chip, and its low-end iPad and revamped iPhone SE<\/strong>, in early 2025, Bloomberg<\/a> reports. <\/p>\n

ALSO GETTING ATTENTION- The US elections are still looking as tight as ever<\/strong> with the two candidates statistically tied among likely voters in the seven swing states in the Bloomberg News\/Morning Consult poll<\/a>, leaving it up to the final weeks of rallies and campaigns to decide who will come out on top. <\/p>\n

AND- Israel continued to strike Beirut\u2019s southern suburbs yesterday<\/strong>, as Hezbollah said it fired precision guided missiles at Israeli targets for the first time. One strike hit the office of Al-Mayadeen, killing at least one person and wounding five others. (Reuters<\/a>) <\/p>\n","protected":false},"excerpt":{"rendered":"

El Sisi told the leaders that Egypt is fully behind efforts to enhance cooperation efforts tackling global challenges<\/p>\n","protected":false},"author":1,"featured_media":653899,"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":[96,72,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-653898","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":"30728113-613d-49cb-b312-3ddb43afb5e5","order":"2","is_powered_by":true,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/10\/2123.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s El Sisi joins other heads of Brics nations in the summit\u2019s first plenary session","related_issue":[653896],"teaser":"El Sisi told the leaders that Egypt is fully behind efforts to enhance cooperation efforts tackling global challenges","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.81b99466-78cf-420b-b1cf-bd49356dcc72.mp3"},"yoast_head":"\nEl Sisi joins other heads of Brics nations in the summit\u2019s first plenary session - 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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":653606,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/20\/el-sisi-underscores-economic-collaboration-at-brics-business-forum-abdelatty-warns-of-broader-conflict-risk\/","url_meta":{"origin":653898,"position":2},"title":"El Sisi underscores economic collaboration at Brics Business Forum + Abdelatty warns of broader conflict risk","author":"enterpriseam admin","date":"20 October 2024","format":false,"excerpt":"Egypt seeks cooperation within Brics and calls for de-escalation amid regional tensions","rel":"","context":"In "Diplomacy"","block_context":{"text":"Diplomacy","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/diplomacy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1555.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":603956,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/23\/there-was-no-shortage-of-topics-on-the-airwaves-yesterday-with-a-new-oil-discovery-in-the-spotlight\/","url_meta":{"origin":653898,"position":3},"title":"There was no shortage of topics on the airwaves yesterday with a new oil discovery in the spotlight","author":"enterpriseam admin","date":"23 August 2023","format":false,"excerpt":"A new oil discovery in the Geisum-Tawila West concession area.","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\/2023\/8\/1087.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548039,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/24\/el-sisi-macron-talks-lead-the-conversation-in-the-foreign-press\/","url_meta":{"origin":653898,"position":4},"title":"El Sisi-Macron talks lead the conversation in the foreign press","author":"enterpriseam admin","date":"24 July 2022","format":false,"excerpt":"President Abdel Fattah El Sisi\u2019s visit to Paris for talks with Emmanuel Macron led coverage of Egypt in the foreign press over the weekend. We have more on the visit in this morning\u2019s Diplomacy section, below. (AFP | Associated Press | Asharq Alawsat)Also featuring heavily in the news: A radiographer\u2026","rel":"","context":"In "EGYPT IN THE NEWS"","block_context":{"text":"EGYPT IN THE NEWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-in-the-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":640798,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/05\/el-sisi-at-the-brics-summit\/","url_meta":{"origin":653898,"position":5},"title":"El Sisi at the BRICS Summit","author":"enterpriseam admin","date":"5 September 2017","format":false,"excerpt":"Did Egypt and Russia just finalize the Dabaa agreement? Egypt and Russia have reportedly finalized their agreement over the USD 30 bn Dabaa nuclear power plant, the Associated Press said on Sunday, citing Russian media reports. 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