{"id":660178,"date":"2025-02-07T00:00:00","date_gmt":"2025-02-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/07\/trump-shocks-world-with-proposal-for-us-to-ethnically-cleanse-redevelop-gaza\/"},"modified":"2025-02-07T00:00:00","modified_gmt":"2025-02-07T00:00:00","slug":"trump-shocks-world-with-proposal-for-us-to-ethnically-cleanse-redevelop-gaza","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/07\/trump-shocks-world-with-proposal-for-us-to-ethnically-cleanse-redevelop-gaza\/","title":{"rendered":"Trump shocks world with proposal for US to ethnically cleanse, redevelop Gaza"},"content":{"rendered":"

Good morning all you wonderful people, and welcome to another chilly winter weekend.<\/strong><\/p>\n

Gone are the days when travel meant choosing between a handful of cookie-cutter hotel <\/strong>chains or taking your chances with random vacation rentals.<\/strong> Today\u2019s savvy travelers are discovering that where you stay can be more than a place to rest your head. This week\u2019s guide will introduce you to a new world of accommodation options that cater to your specific interests and travel style, transforming your travels from standardized experiences into bespoke stays.<\/p>\n

LAST WEEK IN 3 MINS-<\/p>\n

ECONOMY-<\/strong><\/p>\n

#1- Egypt\u2019s non-oil private activity <\/strong>expanded at its highest rate in over four years<\/a><\/strong> in <\/strong>January<\/strong>, buoyed by a solid increase in output and sales volumes, according to S&P Global\u2019s latest Purchasing Managers\u2019 Index report. The headline reading rose to 50.7 from 48.1 in December, marking the second time the country's non-oil activity has hit the expansion territory since November 2020.<\/p>\n

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#2- Net foreign reserves <\/strong>inched up to USD 47.3 bn<\/a><\/strong> at the end of January 2025<\/strong>, marking a USD 156 mn increase from December, according to data from the Central Bank of Egypt. Net foreign reserves continued to increase month-on-month for the 29th consecutive month. <\/p>\n

BANKING-<\/strong><\/p>\n

Net foreign assets in Egypt\u2019s banking sector <\/strong>dropped to USD 5.23 bn in December<\/a><\/strong>, down from USD 5.96 bn in November, marking a monthly decline of 12.2%. The decline was driven by a widening deficit in the net foreign assets of commercial banks, which widened to USD 6.4 bn in December, compared to USD 5.8 bn in November.<\/p>\n

CAPITAL MARKETS-<\/strong><\/p>\n

#1- Officials considering alternatives to a capital gains tax on EGX transactions:<\/strong> It looks increasingly likely that the long-awaited capital gains tax<\/a> on EGX transactions may never come, a government source told EnterpriseAM. In its place, officials are now considering reinstating a 0.15% stamp tax on all EGX transactions as a simpler alternative to the capital gains tax, which has continued to be unenforced due to the absence of executive regulations.<\/p>\n

EDUCATION-<\/strong><\/p>\n

Egypt responds to Trump\u2019s USAID funding freeze: <\/strong>The Egyptian government has stepped up to support USAID scholarship students<\/a> following Trump\u2019s foreign aid freeze last week. <\/p>\n

HOSPITALITY-<\/strong><\/p>\n

The luxury Autograph Collection Hotel to take over Mogamma:<\/strong> Cairo House Egypt inked<\/a>an agreement<\/a> with Tourism Investment and Marriott International to turn the Mogamma building into an Autograph Collection Hotel.<\/p>\n

MANUFACTURING-<\/strong><\/p>\n

Elsewedy Electric launched the Middle East\u2019s largest telecom cables factory:<\/strong> EGX-listed manufacturer Elsewedy Electric opened a EGP 2 bn cable factory<\/a> at its subsidiary Elsewedy Industrial Development\u2019s Industrial zone in the Tenth of Ramadan, a move which further cements the country\u2019s efforts to localize its telecommunications components. The 70k sqm factory stands as the largest of its kind in the region.<\/p>\n

PHARMA-<\/strong><\/p>\n

Eva Pharma to produce mRNA vaccines:<\/strong> Eva Pharma signed an MoU<\/a> with France\u2019s DNA Script and Belgian Quantoom Biosciences to secure the transfer of critical technology necessary to manufacture mRNA vaccine, making Egypt the first Arab or African country slated to produce mRNA vaccines.<\/p>\n

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WHAT\u2019S HAPPENING NEXT WEEK-<\/p>\n

#1- Inflation data incoming: <\/strong>Capmas and the Central Bank of Egypt are expected to publish<\/a> inflation data for January early on Monday, 10 February. <\/p>\n

#2- We\u2019ll officially know the ins and outs of the new social protection package \u201cwithin <\/strong>days,\u201d<\/strong> Prime Minister Moustafa Madbouly said during his weekly presser<\/a> on Wednesday.<\/p>\n

#3- We should learn the fate of the planned capital gains tax on EGX transactions next <\/strong>week: <\/strong>The House is expected to introduce a draft law<\/a> scrapping the capital gains tax on EGX transactions and reinstating a stamp tax, with deputy chairman of the House of Representatives\u2019 budget committee Yasser Omar telling Al Mal on Tuesday that the draft law was expected \u201cwithin days.\u201d <\/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

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AROUND THE WORLD IN SEVEN DAYS- <\/p>\n

<\/p>\n

Newly inaugurated US president Donald Trump did not take a break from penning <\/strong>executive orders this week<\/strong>, with the president kicking things off by ordering 25% tariffs on Canadian and Mexican imports<\/a> and 10% tariffs on Chinese goods, sending financial markets into a tailspin. However, North American leaders managed to reach last-minute agreements<\/a> with Trump, postponing tariffs on Canada and Mexico for 30 days, pending negotiations. Meanwhile, China retaliated by imposing tariffs on select US-made items and calling for a probe into Google.<\/p>\n

President Abdel Fattah El Sisi also <\/strong>spoke over the<\/a><\/strong>phone<\/a><\/strong> with US President Donald Trump Saturday<\/strong>, during which the two discussed the \u201ccritical importance of advancing the implementation of the first and second phases of the ceasefire agreement,\u201d according to an Ittihadiya statement.<\/p>\n

But just when we thought we\u2019d seen the week\u2019s biggest development \u2014 Trump unveiled <\/strong>plans to ethnically cleanse and redevelop Gaza under possible US occupation.<\/strong> During a joint presser with Israeli PM Benjamin Netanyahu, Trump proposed<\/a> that the US take over, develop, and own the Gaza Strip as part of a broader plan to turn it into \u201cthe Riviera of the Middle East.\u201d Trump\u2019s statements initially indicated that the enclave's Palestinian residents were to be permanently displaced from the strip, though subsequent statements<\/a> from US officials suggested that such displacement might be temporary. The proposal drew immediate condemnation from across the Arab region and from key international allies of the US, with Egypt, Jordan,Saudi Arabia, Germany, and France among the countries rejecting the proposal. <\/p>\n

Despite the US administration\u2019s slight backtracking, Israeli officials doubled down on <\/strong>Trump\u2019s plan Thursday<\/strong>, with Israeli defense minister Israel Katz ordering occupation forces to prepare for what Israeli officials termed the \u201cvoluntary departure\u201d of Gaza\u2019s residents. This move drew quick condemnation, with the Egyptian foreign ministry saying that the Israeli statements \u201cconstitute a flagrant violation of international law and the rights of Palestinians\u201d in a statement<\/a>, adding that the Egyptian government \u201ccompletely rejects any proposal that aims to liquidate the Palestinian cause by uprooting the Palestinian people or displacing them from their historical land, whether temporarily or permanently.\u201d<\/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

\u2600\ufe0f <\/strong>THE WEATHER THIS WEEKEND-<\/strong> It\u2019s a cloudy weekend with temperatures similar to the ones we saw this week. We\u2019re expecting a high of 17\u00b0C today in the capital, with a low of 11\u00b0C tonight. The mercury will warm up slightly on Saturday to reach 19\u00b0C, with a low of 10\u00b0C.<\/p>\n

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HAPPENING THIS WEEKEND-<\/p>\n

The <\/strong>Egypt International Boat Show<\/a><\/strong> continues:<\/strong> Over 40 leading companies and more than 120 brands are gathered at the Cairo International Convention Centre (CICC) for the 7th edition of Egypt International Boat Show, which will continue until Sunday, February 9.<\/p>\n

TechShift Summit<\/a><\/strong> opens on Saturday: <\/strong>The Greek Campus (Downtown) will open its doors to host the TechShift Summit 2025 tomorrow, 8 February, bringing together investors and entrepreneurs for a full day of activities.<\/p>\n

Rave with your ancestors this weekend. <\/strong>DHB at the Pyramids kicks off this tonight at 6pm, and will feature an array of electronic, house, and techno music. Grab your tickets from Ticketsmarche<\/a>.<\/p>\n

Folklore is making a comeback. <\/strong>Tablet El Sitt is back at The Theatre tonight from 8pm. Tickets are available on Ticketsmarche<\/a>.<\/p>\n

Start off the first week of the month with a mix of UK tunes and Arabic classics. <\/strong>At CJC 610 tonight, international DJ Saliah<\/a> and local favorites Hwa Fi Eh and Lana<\/a> will be performing at CJC 610. Get your tickets at Ticketsmarche<\/a>.<\/p>\n

This one is for the sports fans. <\/strong>The Football Access Summit<\/a> will feature talks, panels, and presentations from sports industry leaders \u2014 giving the fans insider access. The summit will take place today and tomorrow at ZED Park. Tickets are available on Ticketsmarche<\/a>.<\/p>\n

Palestinian artist Saint Levant to host his<\/strong>pre-release album listening<\/a><\/strong> party <\/strong>at Rec Room in Maadi tomorrow. The event will include a DJ set by Saint Levant and performances from Nihal and Egyptian rapper Xander Ghost. <\/p>\n

As the saying goes, old is gold \u2014 so shop vintage. <\/strong>Head to Cairo Vintage Souq<\/a> and pick up some clothes, accessories, or home decor antiques. The bazaar will take place tomorrow at Al Zohriya Garden in Zamalek.<\/p>\n

Diverse galleries and a dynamic fair program. <\/strong>Experience the artistic talents of the MENA region at the 6th edition of Art Cairo. The exhibition will be held at the Grand Egyptian Museum from tomorrow till Tuesday, 11 February. Tickets are available on CollardTickets<\/a>.<\/p>\n

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HAPPENING NEXT WEEKEND-<\/p>\n

Craving a taste of Asia? <\/strong>The Thai Food Bazaar<\/a> will have top Thai chefs preparing their signature dishes live \u2014 so you can watch, savor, and maybe even steal a secret or two. The event will take place at Al Horreya Park<\/a> in Zamalek for four days, starting on Thursday, 13 February till Sunday, 16 February, with the event set to run from 12pm to 8pm each day.<\/p>\n

Fancy a Valentine\u2019s Day serenade? <\/strong>Grab someone you love and get serenaded by Medhat Saleh at Theatro Arkan on Friday, 14 February, at his Hob x Hob concert<\/a>. Get your tickets at Ticketsmarche<\/a>.<\/p>\n

Cairo Runners is once again hosting its iconic annual marathon,<\/strong> this time on the day of love. On Friday, 14 February, pick between a 21km, 10km, or 5km race, or even a short family run. Register your interest on Cairo Runners<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

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Beijing's decision to end its zero-covid policy has resulted in\u2026","rel":"","context":"In "AROUND THE WORLD"","block_context":{"text":"AROUND THE WORLD","link":"https:\/\/enterpriseam.com\/egypt\/category\/around-the-world\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/15.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592847,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/07\/egypts-industry-ministry-to-meet-wto-officials-next-week\/","url_meta":{"origin":660178,"position":1},"title":"Egypt's Industry Ministry to meet WTO officials next week","author":"enterpriseam admin","date":"7 November 2019","format":false,"excerpt":"WTO to talk export promotion with Egypt: The World Trade Organization (WTO) will hold meetings with the Industry Ministry, the Egyptian Accreditation Council, and the Egyptian Organization for Standards & Quality next Tuesday and Wednesday to discuss infrastructure development and export promotion, according to the local press. The upcoming meeting\u2026","rel":"","context":"In "Diplomacy + Foreign Trade"","block_context":{"text":"Diplomacy + Foreign Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/diplomacy-foreign-trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":558564,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/17\/egypt-could-lose-out-on-egp-31-mn-daily-if-it-remains-on-uks-red-list\/","url_meta":{"origin":660178,"position":2},"title":"Egypt could lose out on EGP 31 mn daily if it remains on UK\u2019s \u201cred list\u201d","author":"enterpriseam admin","date":"17 August 2021","format":false,"excerpt":"The Egyptian economy could lose as much as EGP 31 mn in potential daily revenues if the country remains on the UK\u2019s \u201cred list\u201d for international travel, the World Travel and Tourism Council (WTTC) said in a press release (pdf). Egypt\u2019s continued status on the red list \u2014 where it\u2026","rel":"","context":"In "Tourism"","block_context":{"text":"Tourism","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/tourism\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/185.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567071,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/12\/egyptair-resumes-flights-to-baghdad-after-three-day-suspension\/","url_meta":{"origin":660178,"position":3},"title":"EgyptAir resumes flights to Baghdad after three-day suspension","author":"enterpriseam admin","date":"12 January 2020","format":false,"excerpt":"EgyptAir has resumed flights to Baghdad following a three-day hiatus it took to review the security situation in Iraq following the US\u2019 assassination of Iranian General Qassem Soleimani, according to a statement picked up by the local press. 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