{"id":662763,"date":"2025-03-23T00:00:00","date_gmt":"2025-03-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/23\/emirati-president-sheikh-mohamed-bin-zayed-landed-in-cairo-yesterday\/"},"modified":"2025-03-23T00:00:00","modified_gmt":"2025-03-23T00:00:00","slug":"emirati-president-sheikh-mohamed-bin-zayed-landed-in-cairo-yesterday","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/23\/emirati-president-sheikh-mohamed-bin-zayed-landed-in-cairo-yesterday\/","title":{"rendered":"Emirati President Sheikh Mohamed bin Zayed landed in Cairo yesterday"},"content":{"rendered":"

Good mor<\/strong>ning, all. <\/strong>We don\u2019t know about you but we have already started counting down to the Eid break as we slide into the last full workweek of Ramadan. We kick off the week with news of hot money inflows rising as investors sit tight awaiting rate cuts, the government looking to issue retail bonds, and Kuwait looking to up its investments in Egypt over the coming months. <\/p>\n

So, when do we eat? <\/strong>Maghrib prayers are at 6:08pm in the capital, and you\u2019ll have until 4:27am tomorrow to hydrate and caffeinate ahead of fajr.<\/p>\n

\n

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<\/a> Emirati President Sheikh Mohamed bin Zayed Al Nahyan landed in Egypt yesterday<\/strong>, where he was received by President Abdel Fattah El Sisi. The two leaders discussed efforts to enhance cooperation between their two countries across a number of fields, according to an Ittihadeya statement<\/a>. It is unclear how long the Emirati leader will be in town for. <\/p>\n

PSA- <\/p>\n

WEATHER- <\/strong>It\u2019s getting warmer again in Cairo, with today seeing a high of 22\u00b0C and a low of 14\u00b0C, according to our favorite weather app.<\/p>\n

It\u2019s a little colder in Alexandria<\/strong>, with a high of 21\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

WATCH THIS SPACE- <\/p>\n

<\/a> The Fin<\/strong>ance Ministry is looking to amend the property tax law to raise the exemption <\/strong>threshold to EGP 4-5 mn<\/strong>, up from EGP 2 mn currently, in light of rising property prices and inflation, a senior government official confirmed to EnterpriseAM, following an Asharq Business<\/a> report. The change \u2014 which would come into effect at the start of the new fiscal year \u2014 would come as part of a larger package of changes to property taxes, which will also include payment facilities for taxpayers and regulatory changes.<\/p>\n

The government also plans on more than doubling its annual tax revenue target <\/strong>to EGP 22 bn in the new budget, up from some EGP 8 bn targeted in the current fiscal year.<\/p>\n

We\u2019ve been on the lookout for important property tax changes for the last few months<\/strong> after Deputy Finance Minister for Taxes Sherif Al Kilani told EnterpriseAM<\/a> that the ministry was considering either raising the cap or exempting private family residences entirely, while taxing additional properties. A phased rollout of the revised law is under consideration, starting with areas that have seen significant urban expansion, such as the North Coast, Sheikh Zayed, and the Fifth Settlement, before expanding nationwide, Al Kilani told us.<\/p>\n

RED SEA WATCH-<\/p>\n

<\/a> Shippin<\/strong>g goliath<\/strong> Hapag-Lloyd\u2019s plans to return to the Suez Canal will remain on ice<\/strong>, said CEO Rolf Habben Jansen in the company\u2019s a<\/a>nnua<\/a>l report (pdf)<\/a>, citing safety concerns. Looking ahead, the firm penciled in 2H 2025 for the gradual resumption of traffic.<\/p>\n

\n

IN THE HOUSE-<\/p>\n

The House is back in session:<\/strong> MPs are back in session after a two-week break to give their final vote on the draft Labor Law, which got preliminary approval<\/a> last month, five foreign agreements, and kick off discussions of the draft Medical Liability and Patient Protection Law<\/a>, which got the green light from the Senate in December.<\/p>\n

What foreign agreements? <\/strong>MPs will vote on a presidential decree to establish the Saudi-Egyptian Supreme Coordination Council. The council was announced in October<\/a> and will be chaired by President Abdel Fattah El Sisi and Saudi Crown Prince Mohammed Bin Salman. MPs will also vote on an amendment to the agreement establishing the European Bank for Reconstruction and Development, which will expand the bank\u2019s operations to sub-Saharan Africa and Iraq.<\/p>\n

That\u2019s not all: <\/strong>MPs will vote on three foreign grant agreements on Tuesday \u2014 a JPY 500 mn Japanese grant to support a socio-economic development program, a second JPY 180 mn grant from Japan to upgrade the Opera House, and a EUR 300k grant from the Spanish Agency for International Development Cooperation to support local startups and boost job creation among youth.<\/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

\n

HAPPENING TODAY-<\/p>\n

Who are the winners of the latest iteration of the Smart Green Projects initiative? <\/strong>A presser will be held today to announce the winning projects of the third iteration of the government\u2019s Smart Green Projects initiative, according to an invitation shared with EnterpriseAM. The initiative has been around since 2022, with the aim of shining the light on some of the most promising green projects the country has to offer. <\/p>\n

\n

CIRCLE YOUR CALENDAR- <\/p>\n

French Pre<\/strong>sident Emmanuel Macron<\/strong> is coming to Egypt on 7-8 April<\/strong>, the head of state told reporters on Thursday (watch, runtime: 22:55<\/a>). The state visit will include a session on efforts to end Israel\u2019s war in Gaza, he said, without providing any further details of the trip. <\/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

<\/a> Israel threatens Gaza annexation if hostages remain in captivity:<\/strong> Israeli Defense Minister Israel Katz threatens that Israeli forces would begin seizing territory in Gaza, forcing civilians to evacuate more areas, unless Hamas releases remaining hostages. \u201cThe more Hamas continues its refusal to release the hostages, the more territory it will lose to Israel,\u201d Katz said on Friday. Hamas said that it is looking into a US proposal to mend the collapsed truce, but declared that any future potential agreements must lead to a permanent end to the war. This comes after Israeli forces restarted ground operations<\/a> in Gaza following the collapse of a two-month ceasefire<\/a>. (Bloomberg<\/a> | New York Times<\/a> | The Guardian<\/a> | CNN<\/a> | BBC<\/a> | Reuters<\/a>)<\/p>\n

AND- Israel-Hezbollah truce under pressure after cross-border fire: <\/strong>Israel launched multiple airstrikes on Hezbollah-controlled areas in southern Lebanon over the weekend, claiming retaliation for attacks fired from the Lebanese side of the border \u2014 strikes that Hezbollah has denied. The Israeli army \u201cstruck dozens of Hezbollah rocket launchers and a command center from which Hezbollah terrorists were operating in southern Lebanon,\u201d the IDF said in a post on X<\/a>. The cross-border escalation marks the most significant breach of the four-month truce between Israel and Hezbollah. (Bloomberg<\/a> | BBC<\/a> | AP<\/a> | Reuters<\/a> | CNN<\/a>)<\/p>\n

IN OTHER NEWS- <\/strong>Turkish authorities have extended a ban on demonstrations and imposed travel restrictions in and out of Istanbul in a bid to control protests that broke out following the detention of popular opposition figure and Istanbul Mayor Ekrem Imamoglu. Imamoglu \u2014 widely seen as President Recep Tayyip Erdogan\u2019s most formidable rival \u2014 was taken into custody last week on charges of corruption and terrorism, which he denies. We have more on what the move means for the Turkish market in the news well, below. <\/strong>(Reuters<\/a> | Bloomberg<\/a> | New York Times<\/a> | BBC<\/a> | AP<\/a> | CNN<\/a>)<\/p>\n","protected":false},"excerpt":{"rendered":"

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landed in Egypt yesterday","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\/2025\/1\/130.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":654332,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/31\/emirati-president-pardons-zamalek-players-from-one-month-prison-sentence\/","url_meta":{"origin":662763,"position":1},"title":"Emirati President pardons Zamalek players from one-month prison sentence","author":"enterpriseam admin","date":"31 October 2024","format":false,"excerpt":"An Emirati presidential pardon: Emirati President Sheikh Mohamed bin Zayed Al Nahyan has pardoned Zamalek players Mostafa Shalaby and Nabil Emad and sporting director Abdel Wahed El Sayed from one-month prison sentences handed out by the Abu Dhabi Criminal Court, alongside a USD 55k fine, after their involvement in 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