{"id":661540,"date":"2025-03-02T00:00:00","date_gmt":"2025-03-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/02\/ramadan-kareem-2\/"},"modified":"2025-03-02T00:00:00","modified_gmt":"2025-03-02T00:00:00","slug":"ramadan-kareem-2","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/02\/ramadan-kareem-2\/","title":{"rendered":"Ramadan Kareem"},"content":{"rendered":"

Good morning, all. <\/strong>We hope you\u2019re well caffeinated and ready for your first Ramadan workday. <\/p>\n

So, when do we eat? <\/strong>Maghrib prayers are at 5:55pm in the capital, and you\u2019ll have until 4:52am tomorrow to hydrate and caffeinate ahead of fajr.<\/p>\n

<\/a> REMEMBER- Ramadan hours kick in today. <\/strong>Banks and the EGX will move to their customary shortened Ramadan hours starting today, with trading beginning at 10am and ending at 1:30pm and banks operating from from 9:30am to 1:30pm. Shops, restaurants, and caf\u00e9s will be allowed to stay open until 2am during Ramadan and Eid Al Fitr.<\/p>\n

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<\/a> Egypt is on the IMF Executive Board\u2019s calendar: <\/strong>The IMF is set to sign off on Egypt\u2019s fourth review of its USD 8 bn loan program when the Fund\u2019s Executive Board meets<\/a> on Monday, March 10. Also on the agenda are Egypt\u2019s requests to relax some timelines and other terms of the agreement, along with new funds under the Resilience and Sustainability Facility.<\/p>\n

Remember: <\/strong>The IMF reached a staff level agreement<\/a> with Egyptian authorities on the fourth review of its USD 8 bn loan program in December. The agreement will grant Egypt access to USD 1.2 bn \u2014 the biggest tranche of the program so far \u2014 after the Executive Board gives its stamp of approval.<\/p>\n

PSA-<\/p>\n

WEATHER- <\/strong>It\u2019s a sunny day in Cairo, with a high of 23\u00b0C and a low of 13\u00b0C, according to our favorite weather app.<\/p>\n

It\u2019s more or less the same in Alexandria<\/strong>, with a high of 22\u00b0C and a low of 12\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

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WATCH THIS SPACE- <\/p>\n

<\/a> Estada<\/a><\/strong>t Sports Investment Company<\/a><\/strong> is gearing up for<\/strong> an offering on the EGX in <\/strong>2026<\/strong> as it evaluates financial strategies to ensure a strong market debut, CEO Seif El Wazery told Al Borsa<\/a>. The company \u2014 currently managing EGP 3 bn in business volume \u2014 has set a target to reach EGP 5 bn by the end of 2025 and to expand its City Club network to 13-15 clubs by 2026 from a current nine.<\/p>\n

HAPPENING TODAY- <\/p>\n

<\/a> #1-<\/strong> EU C<\/strong>ommissioner for the Mediterranean Dubravka<\/strong> \u0160uica is in Egypt today for <\/strong>high-level discussions on the New Pact for the Mediterranean <\/strong>and to ink a EUR 90 mn project \u2014 dubbed Egypt Food Resilience \u2014 with the government, according to a statement<\/a> from the bloc. The EU official will meet with President Abdel Fattah El Sisi, Prime Minister Moustafa Madbouly, Foreign Affairs Minister Badr Abdelatty, and Planning and International Cooperation Minister Rania Al Mashat, before holding a press conference later in the day.<\/p>\n

New Pact for the Mediterranean? <\/strong>The in-the-works pact is being put together by EU states and their Mediterranean neighbors in a bid to \u201caddress shared challenges, by fostering people to people relations, economic reforms, and strengthening regional security and stability.\u201d <\/p>\n

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#2- Investors<\/strong> can now <\/strong>apply online<\/a><\/strong> for over 2.1k industrial land plots across 22 governorates<\/strong> via the <\/a>Egypt Industrial Digital Platform<\/a> in a 10-day offering that kicked off yesterday. In response to investor requests, the offering period has been extended to 10 days instead of a week, allowing applicants more time to complete the necessary paperwork \u2014 especially given the Ramadan schedule.<\/p>\n

NEWS TRIGGERS- <\/p>\n

It\u2019s the<\/strong> first workday of March<\/strong> \u2014 and the second day of Ramadan \u2014 here are the key news triggers to keep your eyes on throughout the month:<\/p>\n