{"id":659404,"date":"2025-01-27T00:00:00","date_gmt":"2025-01-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/27\/french-shipping-giant-cma-cgm-to-continue-suez-canal-diversions\/"},"modified":"2025-01-27T00:00:00","modified_gmt":"2025-01-27T00:00:00","slug":"french-shipping-giant-cma-cgm-to-continue-suez-canal-diversions","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/27\/french-shipping-giant-cma-cgm-to-continue-suez-canal-diversions\/","title":{"rendered":"French shipping giant CMA CGM to continue Suez Canal diversions"},"content":{"rendered":"

Good morning, friends.<\/strong> There\u2019s plenty of news about Egypt today, but not much of it is about business. Putting Egypt in the focus of the world\u2019s press was Trump\u2019s most recent alarm bell-ringing off-the-cuff remark, which saw him call for the ethnic cleansing and displacement of mns of Palestinians to \u201cclear out\u201d the enclave into Egypt and Jordan, sparking condemnation and concern in the region. <\/p>\n

In less depressing and more business-orientated news that we\u2019ve got in the issue today<\/strong>, the House greenlit bills shaking up and hopefully improving the way we tax businesses,insights into the outdoor advertising industry in 2024, and real estate investment firm Bonyan taking important steps towards its upcoming IPO.<\/p>\n

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CORRECTION- <\/strong>We incorrectly referred to Hassan Allam Properties as the real estate arm of Hassan Allam Holding in a story published in yesterday\u2019s issue of EnterpriseAM Egypt. Hassan Allam Properties is a sister company of Hassan Allam Holding and has a separate legal entity and shareholding structure. The story<\/a> has since been amended on our website.<\/p>\n

PSA-<\/p>\n

WEATHER- The sun is taking a break in Cairo today<\/strong>, with overcast skies, a high of 20\u00b0C, and a low of 12\u00b0C, according to our favorite weather app.<\/p>\n

Alexandria is also in store for an overcast day<\/strong>, with a high of 21\u00b0C, a low of 11\u00b0C, and intermittent light showers.<\/p>\n

It\u2019s also another foggy start to the day for most parts of the country<\/strong>, so for all you leaving outside Upper Egypt and South Sinai, stay safe on the roads this morning, the Egyptian Meteorological Authority warned<\/a>.<\/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

ICYMI- Missed this week\u2019s Inside Industry? <\/strong>In our weekly vertical exploring all things industry and manufacturing, we looked at where Egypt\u2019s efforts to green its industrial sector stand. Check out the story here<\/a>. <\/p>\n

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WATCH THIS SPACE- <\/p>\n

<\/a> French shipping line CMA CGM will continue to avoid the Suez Canal <\/strong>and use the Cape of Good Hope passage despite the ceasefire in Gaza, the company said on its website<\/a>. The shipping giant sees the Gaza ceasefire as \u201ca positive but fragile sign for the global shipping and logistics industry.\u201d The Suez Canal Authority last week said it was expecting to receive a fleet of vessels from CMA CGM on Thursday, but that was a \u201csingle ad hoc call\u201d as a representative of the French company told The Loadstar<\/a>.<\/p>\n

We dove into what the ceasefire in Gaza means for Suez Canal traffic <\/strong>in a story<\/a> published last week. <\/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

HAPPENING THIS WEEK- <\/p>\n

It\u2019s interest rate week: <\/strong>The US Federal Reserve is set to meet for the first time this year for its two-day meeting tomorrow, with the GCC\u2019s central banks awaiting its move before mirroring it (remember, most GCC currencies are pegged to the USD). The Fed is widely expected to keep interest rates steady, despite calls from US President Donald Trump to drop interest rates \u201cimmediately.\u201d <\/p>\n

CIRCLE YOUR CALENDAR- <\/p>\n

<\/a> The newly-formed <\/strong>Export Development Committee<\/a><\/strong> will meet for the first time<\/strong> next week to discuss its work scope and strategy, committee member Ayman Ashry told Al Borsa<\/a>. The advisory group, formed with private sector participation, aims to improve communication between policymakers and private sector players to achieve the target of reaching USD 145 bn in exports a year by 2030<\/a>.<\/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

\n

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

US President Donald Trump continues to make headlines<\/strong> with a fresh set of tariffs slapped on Colombia and calls for Gazans to settle in Egypt and Jordan to make way for a \u201cclean-out\u201d of Gaza. <\/p>\n

Trump slapped a 25% tariff on all imports from Colombia<\/strong> \u2014 set to be raised to 50% in a week \u2014 along with a travel ban on Colombian government officials and financial sanctions after Colombia sent back two US military aircraft carrying deported migrants from the country. The deportation came as part of Trump\u2019s sweeping crackdown on illegal immigration, which included a broad ban on asylum, since taking office. Colombia responded with its own 25% tariff on US imports. (Reuters<\/a> | Bloomberg<\/a> | WSJ<\/a> | BBC<\/a>) <\/p>\n

<\/a> In separate news, Trump called for Palestinians displaced from Gaza <\/strong>to be resettled in Jordan and Egypt<\/a><\/strong> either temporarily or permanently<\/strong>. Trump noted to reporters following a call with Jordan\u2019s King Abdullah Saturday that he wanted both Jordan and Egypt to take in more displaced Palestinians, saying in reference to Gaza that \u201cwe should just clear out the whole thing.\u201d The idea was rejected by Egypt, Jordan, the Palestinian authority, and many other nations and international bodies, which was followed by Trump officials later suggesting that Gazans would receive guarantees that they would eventually be allowed to return in a bid to downplay the original remarks. We\u2019ve got more on this story in our Last Night\u2019s Talk Show section below.<\/p>\n

While over in Lebanon, Israeli forces opened fire on a group of protestors <\/strong>demanding their withdrawal in line with the agreed 60-day deadline as part of the ceasefire, killing at least 22 and injuring 124 people, AP<\/a> reports. The White House later issued a statement that the deadline for Israeli troops\u2019 withdrawal has been extended to 18 February, after Israel said it is waiting for the Lebanese army to deploy to all areas of South Lebanon to ensure that Hezbollah does not reestablish its presence there, despite statements from the army that it cannot deploy there unless Israeli troops withdraw. <\/p>\n

<\/p>\n

*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. <\/p>\n

In today\u2019s issue:<\/strong> We look at what Egypt is doing to push more international universities to set up shop in the country. <\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, friends. There\u2019s plenty of news about Egypt today, but not much of it is about business. Putting Egypt in the focus of the world\u2019s press was Trump\u2019s most recent alarm bell-ringing off-the-cuff remark, which saw him call for the ethnic cleansing and displacement of mns of Palestinians to \u201cclear out\u201d the enclave into […]<\/p>\n","protected":false},"author":1,"featured_media":659405,"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":[72,8835,7103,132,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-659404","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-enterpriseam","tag-maritime","tag-suez-canal","tag-trade","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"7770bd42-9255-4bdc-bab8-c2566af9b6c9","order":"2","is_powered_by":true,"story_type":"4","photo_url":"https:\/\/ent.news\/2023\/12\/1790.jpg","photo_position":"above","homepage_title":"","full_issue_title":"French shipping giant CMA CGM to continue Suez Canal diversions","related_issue":[659402],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/1\/.3467e69c-9ca7-47b5-9681-b87aa763a5ac.mp3"},"yoast_head":"\nFrench shipping giant CMA CGM to continue Suez Canal diversions - 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\/2025\/01\/27\/french-shipping-giant-cma-cgm-to-continue-suez-canal-diversions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"French shipping giant CMA CGM to continue Suez Canal diversions\" \/>\n<meta property=\"og:description\" content=\"Good morning, friends. 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It\u2019s another relatively slow day on the home front today as we trudge towards the weekend. THE BIG STORY TODAY Suez Canal revenues are expected to hit USD 8.8 bn in 2023, which would mark a 10% y-o-y increase, Suez Canal Economic Zone\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\/3\/350.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":561213,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/30\/what-were-tracking-on-30-march-2021\/","url_meta":{"origin":659404,"position":2},"title":"What we\u2019re tracking on 30 March 2021","author":"enterpriseam admin","date":"30 March 2021","format":false,"excerpt":"Good morning, wonderful people. It\u2019s hump day, we know, but it\u2019s shaping up to be the best week in forever. Consider: The Suez Canal is open again now that the Ever Whatever is floated and chilling in the Great Bitter Lake.CI Capital has priced Taaleem\u2019s IPO on the Egyptian Exchange\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":580382,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/22\/this-evening-first-filling-begins-for-elsewedy-electric-arab-contractors-tanzania-dam-suez-canals-osama-rabie-addresses-questions-on-new-suez-canal-fund\/","url_meta":{"origin":659404,"position":3},"title":"THIS EVENING: First filling begins for Elsewedy Electric-Arab Contractors Tanzania dam + Suez Canal\u2019s Osama Rabie addresses questions on new Suez Canal fund","author":"enterpriseam admin","date":"22 December 2022","format":false,"excerpt":"Happy THURSDAY, wonderful people. It\u2019s been a mad rush of a week, but judging by the volume of out-of-office replies landing in our inboxes today, a number of you are taking some much-needed time off with which to end the year.*** We\u2019re following your lead and will be taking an\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\/12\/773.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":580591,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/09\/this-evening-madbouly-instructs-ministries-to-cut-down-on-spending-cargo-vessel-briefly-stalls-in-the-suez-canal\/","url_meta":{"origin":659404,"position":4},"title":"THIS EVENING: Madbouly instructs ministries to cut down on spending + Cargo vessel briefly stalls in the Suez Canal","author":"enterpriseam admin","date":"9 January 2023","format":false,"excerpt":"Good afternoon, wonderful people. We\u2019re quickly getting back in the swing of things after back-to-back long weekends and the news cycle is picking right up.THE BIG STORY TODAY Cabinet announces budget cutbacks to tamp down on spending: Prime Minister Moustafa Madbouly has issued a directive to all ministries, with the\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\/2023\/1\/617.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":587375,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/25\/this-evening-el-sisi-inaugurates-our-first-quartz-industrial-complex-efg-hermes-holding-is-now-efg-holding\/","url_meta":{"origin":659404,"position":5},"title":"THIS EVENING: El Sisi inaugurates our first quartz industrial complex + EFG Hermes Holding is now EFG Holding","author":"enterpriseam admin","date":"25 May 2023","format":false,"excerpt":"Rejoice, friends: It\u2019s finally the weekend. 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FRET NOT- Suez Canal traffic returns to normal after a stranded ship was successfully refloated: Three tugboats refloated a large vessel that had been stranded for several\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\/2023\/3\/118.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\/659404","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=659404"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/659404\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/659402"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/659405"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=659404"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=659404"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=659404"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=659404"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=659404"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}