{"id":654288,"date":"2024-10-30T00:00:00","date_gmt":"2024-10-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/30\/another-freezone-coming-to-the-new-capital\/"},"modified":"2024-10-30T00:00:00","modified_gmt":"2024-10-30T00:00:00","slug":"another-freezone-coming-to-the-new-capital","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/30\/another-freezone-coming-to-the-new-capital\/","title":{"rendered":"Another freezone coming to the new capital?"},"content":{"rendered":"

Good afternoo<\/strong>n, folks<\/strong>, and a happy Wednesday<\/p>\n

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

DP World to spearhead new capital freezone? <\/strong>Dubai\u2019s state-owned port operator DP World<\/a> has agreed to study the possibility of developing a freezone in the new administrative capital under an MoU inked with the New Administrative Capital for Urban Development (ACUD) and the General Authority for Investment and Freezones (GAFI), according to a cabinet statement<\/a> out earlier today.<\/p>\n

What we know so far: <\/strong>The proposed project will span 500 feddans owned by ACUD and will focus on key industrial sectors, including electronics, automotive, fast-moving consumer goods, garments, and footwear. The MoU states that the parties involved will shortly kickstart technical and feasibility studies, ahead of inking the official contracts for the new project.<\/p>\n

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

The world\u2019s press is once again split between the Israeli aggression in the region and the<\/strong> fast-approaching US presidential election, <\/strong>now just over five days away.<\/p>\n

In our corner of the world<\/strong>, Israel is signaling that its hoping to end its war on Lebanon by the end of the year with Israeli Finance Minister Smotrich \u2014 notorious for his often genocidal comments \u2014 telling reporters<\/a> that 2025 \u201cwill not be a year of war, it will be a year of exiting the war.\u201d A US delegation with a ceasefire proposal will reportedly land in Israel to negotiate a 60-day pause to the fighting to put together an agreement that would see Hezbollah withdraw from the border areas and up the number of UN peacekeepers stationed in southern Lebanon.<\/p>\n

But it\u2019s hard to feel optimistic given Israel\u2019s double-talk about ceasefires in Gaza<\/strong>, with the country being accused by mediating nations \u2014 including the US and Egypt \u2014 of deliberately obstructing agreements with unrealistic demands. Talk of the country wanting to up the presence of UN peacekeepers in southern Lebanon is also a surprise to some, given the country\u2019s numerous attacks on deployed UN troops over the last few weeks.<\/p>\n

WHILE OVER IN BUSINESS NEWS- Volkswagen\u2019s income <\/strong>nosedived<\/a><\/strong> 64% y-o-y in 3Q<\/strong>, as appetite in China for cars \u2014 and particularly German cars \u2014 fell in the auto giant\u2019s most recent earnings release. The release \u201chighlights the urgent need for significant cost reductions and efficiency gains,\u201d group CFO and COO Arno Antlitz said in an accompanying press release<\/a>.<\/p>\n

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