{"id":663624,"date":"2025-04-13T00:00:00","date_gmt":"2025-04-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/13\/eu-gives-egypt-greenlight-to-join-eur-95-5-bn-horizon-europe-research-program\/"},"modified":"2025-04-13T00:00:00","modified_gmt":"2025-04-13T00:00:00","slug":"eu-gives-egypt-greenlight-to-join-eur-95-5-bn-horizon-europe-research-program","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/13\/eu-gives-egypt-greenlight-to-join-eur-95-5-bn-horizon-europe-research-program\/","title":{"rendered":"EU gives Egypt greenlight to join EUR 95.5 bn Horizon Europe research program"},"content":{"rendered":"

Good morning, folks, and welcome to what already seems like another busy week in <\/strong>local business news<\/strong>. <\/strong>In today\u2019s issue, we\u2019ve got news that inflation sped up in March, S&P Global Ratings cut our credit outlook, big ticket manufacturing projects in the pipeline, and \u2014 as you\u2019ve probably heard a hundred times already \u2014 price hikes at the gas station.<\/p>\n

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WATCH THIS SPACE-<\/p>\n

<\/a> Saudi investments on the horizon? <\/strong>Some 100 Saudi investors and members of the Saudi-Egyptian Business Council led by the Federation of Saudi Chambers landed in Cairo yesterday to kick off a visit aimed at deepening investment ties between the Kingdom and Egypt, Saudi state news agency SPA reports<\/a>.<\/p>\n

On the agenda:<\/strong> The Saudi delegation will participate in a Saudi-Egyptian investment forum, hold B2B meetings, conduct site visits to major projects, and meet with cabinet members and company representatives. Talks will spotlight prospects across different industries, including manufacturing, real estate, tourism, and trade zones.<\/p>\n

\n

PSA-<\/p>\n

WEATHER- <\/strong>It\u2019s set to be a cloudy day in Cairo today, with a high of 23\u00b0C, a low of 15\u00b0C, and the chance of light rain, according to our favorite weather app.<\/p>\n

It\u2019s much the same in Alexandria<\/strong>, with cloudy skies, a high of 21\u00b0C, a low of 13\u00b0C, and the chance of light to moderate rain and possibly thunder. <\/p>\n

** DID YOU KNOW that we 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

\n

CIRCLE YOUR CALENDAR-<\/p>\n

<\/a> Egypt is set to officially join the EU\u2019s research and innovation funding program <\/strong>Horizon Europe<\/a><\/strong> in November<\/strong>, following negotiations between the country and the European Commission successfully wrapping up, the EU\u2019s executive arm said in a statement<\/a>. Egypt is now the only second African nation to join the program, following in the footsteps of Tunisia.<\/p>\n

Horizon Europe is an EU research and innovation program with a budget of EUR 95.5 bn<\/strong> \u2014 yes, bn not mn \u2014 running from 2021 to 2027. The program tackles global challenges like climate change, health crises, and more, by funding research and promoting cross-country and -continent collaboration. <\/p>\n

Egyptian companies, universities, public bodies, and other entities can apply for funding<\/strong> starting now<\/strong>, with the transitional period running until the signing enabling Egyptian entities to respond to budget calls.<\/p>\n

\u201cEgypt\u2019s association to Horizon Europe will drive progress in key sectors<\/strong> like energy, food security, and digital transition, creating new opportunities for innovation,\u201d said European Commissioner for Startups, Research, and Innovation Ekaterina Zaharieva.<\/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

HAPPENING THIS WEEK-<\/p>\n

<\/a> The country\u2019s largest ever housing unit offering will kick off Tuesday<\/strong>, with the Housing Ministry offering up the first 35k units of the 261k offering, according to a ministry statement<\/a>. The Housing and Development Bank will publish unit specs, locations, and terms through its reservation portal.<\/p>\n

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DATA POINT-<\/p>\n

<\/a> Total interbank market transactions surpassed the USD 3.5 bn mark last week,<\/strong> a banking source told EnterpriseAM \u2014 a significant jump from the USD 750 mn-1.2 bn the market usually sees changing hands each week. Trump\u2019s escalation of the trade war saw stocks and currencies at home and abroad jump and fall during an unpredictable and volatile week for the markets, with foreign investors both exiting and re-entering Egypt\u2019s debt market at various points throughout the 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

\n

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

T<\/strong>he global tariff war is continuing to lead the news cycle across the global press<\/strong>, with both the business and national papers focusing on US President Donald Trump\u2019s decision to spare smartphones, laptops, chips, and other electronics from his sweeping new tariff regime. The US Customs and Border Protection authority on Friday published a bulletin<\/a>, listing all the products that will be \u201cexcluded from the reciprocal tariffs.\u201d The carveout covers USD 390 bn worth of US imports in 2024 \u2014 including some USD 101 bn from China \u2014 shielding devices that aren\u2019t manufactured in the US from the 10% global tariff<\/a> and the much steeper 125% levy on Chinese goods. (Reuters<\/a> | Bloomberg<\/a> | Wall Street Journal<\/a> | New York Times<\/a> | Financial Times<\/a>)<\/p>\n

While a little closer to home, the US and Iran are back at the negotiating table. <\/strong>Tehran and Washington held their highest-level indirect talks in years on Saturday in Oman, marking a potential shift in a long-running standoff over Iran\u2019s nuclear program. Both sides described the two-hour session \u2014 mediated by Omani officials \u2014 as \u201cconstructive\u201d and agreed to resume talks next weekend. US envoy Steven Witkoff and Iranian Foreign Minister Abbas Araghchi reportedly discussed a framework for a possible agreement aimed at scaling back Iran\u2019s uranium enrichment activities in exchange for limited sanctions relief. (Financial Times<\/a> | Reuters<\/a> | Axios<\/a> | AP<\/a> | CNN<\/a> | New York TImes<\/a>)<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, folks, and welcome to what already seems like another busy week in local business news. 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Electricity Minister Mohamed Shaker phoned in on Al Hayah Al Youm to comment on the linkup, for which contracts were handed to\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":622157,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/28\/did-mark-mobius-just-tell-investors-to-ditch-saudi-and-go-to-egypt\/","url_meta":{"origin":663624,"position":2},"title":"Did Mark Mobius just tell investors to ditch Saudi and go to Egypt?","author":"enterpriseam admin","date":"28 November 2018","format":false,"excerpt":"Did Mark Mobius just tell investors to ditch Saudi for Egypt? 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