{"id":670387,"date":"2025-08-19T00:00:00","date_gmt":"2025-08-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/08\/19\/we-could-soon-hear-news-about-a-new-ras-shukeir-project-courtesy-of-a-gulf-sovereign-fund\/"},"modified":"2025-08-19T00:00:00","modified_gmt":"2025-08-19T00:00:00","slug":"we-could-soon-hear-news-about-a-new-ras-shukeir-project-courtesy-of-a-gulf-sovereign-fund","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/08\/19\/we-could-soon-hear-news-about-a-new-ras-shukeir-project-courtesy-of-a-gulf-sovereign-fund\/","title":{"rendered":"We could soon hear news about a new Ras Shukeir project courtesy of a Gulf sovereign fund"},"content":{"rendered":"

Good morning, friends. <\/strong>We have a light issue for you this morning led by tax news as we look into how the Finance Ministry plans to implement the new VAT on crude oil. We also bring you a little bit of debt news with Beltone Mortgage closing its first securitization issuance.<\/p>\n

AND- We finally know who will be at the helm of the central bank for the coming year. <\/strong>El Sisi decided to reappoint CBE governor Hassan Abdalla, extending his tenure for another year. While there has been some speculation over whether he will seek reappointment, him staying at the helm sends a message of continuity to foreign investors. <\/p>\n

PSA- <\/p>\n

WEATHER- <\/strong>It\u2019s another warm day in Cairo, with a high of 37\u00b0C and a low of 27\u00b0C, according to our favorite weather app.<\/p>\n

It\u2019s a little cooler in Alexandria<\/strong>, with a high of 32\u00b0C and a low of 24\u00b0C.<\/p>\n

WATCH THIS SPACE-<\/p>\n

<\/a> #1- A G<\/strong>ulf sovereign fund is set to announce a new <\/strong>Ras Shukeir<\/a><\/strong>project<\/a><\/strong> that will focus on infrastructure and energy development, according to a Finance Ministry report seen by EnterpriseAM. Geopolitical tensions in the region had delayed the finalization of the project agreement initially planned for the end of the previous fiscal year, but negotiations are expected to conclude shortly, a government source told EnterpriseAM.<\/p>\n

You heard it here first: <\/strong>Government sources had told EnterpriseAM back in June that the government is gearing up to announce a new Ras Shukeir project involving one of the Gulf\u2019s sovereign wealth funds. <\/p>\n

REMEMBER-<\/strong> The agreement \u2014 the first in a series linked to the 174 sq km Ras Shukeir zone on the Red Sea \u2014 will back local sovereign sukuk issued by the Finance Ministry, with proceeds earmarked for reducing public debt.<\/p>\n

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#2- <\/strong>The Arab Association for Electric Vehicles has sent an <\/strong>urgent petition (pdf)<\/a><\/strong> to the <\/strong>Industry Ministry asking it to delay the ban on GB\/T-compatible EV imports<\/strong> until the end of 2025. The letter, signed on behalf of traders and importers, warned that the decision could harm both local businesses and their customers. This comes after the Egyptian Customs Authority began enforcing new technical requirements for electric vehicle imports, requiring documentation that proves compatibility with the European-standard CCS2 charging protocol.<\/p>\n

REMEMBER-<\/strong>A government source told EnterpriseAM earlier this month that the Madbouly cabinet was gearing up to restrict imports of Chinese-made EVs<\/a> so that only officially licensed agents are able to get their hands on them. The move follows the Egyptian Electric Utility and Consumer Protection Regulatory Agency mandating all public charging stations shift to CCS2 back in April<\/a>. <\/p>\n

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DIPLOMACY- <\/p>\n

Egypt is open to the temporary deployment of <\/strong>international forces in Gaza as part of a political process toward statehood<\/strong>, Foreign Minister Badr Abdelatty told Al Arabiya<\/a>. He did not rule out the temporary deployment of Egyptian forces under a resolution that ensures the establishment of a Palestinian state.<\/p>\n

<\/a> This comes as Hamas agrees to a Egypt and Qatar-brokered truce: <\/strong>Hamas has agreed to a 60-day ceasefire proposal put forward by Egypt and Qatar, raising hopes that a long-awaited breakthrough in negotiations could be upon us, according to Reuters<\/a> and Bloomberg<\/a>. The plan would see Hamas release half of the Israeli hostages it still holds in exchange for Palestinian prisoners and a partial Israeli troop withdrawal. Israel is yet to respond to the terms of the ceasefire. Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani was in Cairo yesterday where he met with President Abdel Fattah El Sisi<\/a> and Hamas representatives to discuss the truce. <\/p>\n

This has been in the works for a while: <\/strong>Egypt has been in talks<\/a> with Qatar and the US to secure a 60-day truce in Gaza for some time now.<\/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

** 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

CIRCLE YOUR CALENDAR- <\/p>\n

<\/a> The Food Export Council is sending a delegation to C\u00f4te d\u2019Ivoire this month <\/strong>to help Egyptian companies get a stronger foothold in African markets, deputy executive director Tameem Eldawy told Al Borsa<\/a>. The delegation will study the Ivorian market\u2019s needs \u2014 from product types, sizes, and price points to the main competitors. It will also meet with major importers, government entities, business associations, and chambers of commerce. <\/p>\n

REMEMBER-<\/strong> This comes just days after more than 60 Egyptian companies spanning multiple sectors said they plan to establish a joint marketing company in Ghana<\/a> to ramp up exports there. The moves reflect a broader push by Egyptian businesses to deepen their footprint in African markets.<\/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

The international press is focused on exactly two stories this morning:<\/strong> SoftBank investing in Intel, and US President Donald Trump\u2019s meeting with Ukraine\u2019s Volodymyr Zelensky in Washington yesterday. <\/p>\n

Intel is getting a USD 2 bn investment from SoftBank<\/strong>, which is buying a c.2% stake in Intel \u2014 some 87 mn shares \u2014 at USD 23 apiece, Intel said in a statement<\/a> overnight. The share price is slightly below Intel\u2019s closing price yesterday of USD 23.66, but is widely seen as a \u201clifeline\u201d for the US chipmaker, which reported net losses last year for the first time in nearly four decades. SoftBank\u2019s investment, which makes it Intel\u2019s fifth-largest shareholder, also comes as the US government is reportedly in talks to snap up a 10% stake in Intel. <\/p>\n

The investment is a shot in the arm in Intel\u2019s (costly) drive to manufacture chips for <\/strong>external customers<\/strong>, although Intel has yet to lock down any significant customers for this line of business. \u201cThis strategic investment reflects our belief that advanced semiconductor manufacturing and supply will further expand in the United States, with Intel playing a critical role,\u201d SoftBank said in a statement<\/a>. The story is front-page news in the Financial Times<\/a>, the Wall Street Journal<\/a>, CNBC<\/a>, Bloomberg<\/a>, and Reuters<\/a>. <\/p>\n

Meanwhile, Trump is now arranging a meeting between Ukraine\u2019s Zelensky and Russia\u2019s <\/strong>Vladimir Putin<\/strong> after Trump and Zelensky agreed that the US would help ensure Ukraine\u2019s security in any peace agreement with Russia. Zelensky and Putin could meet in Hungary in the next two weeks, according to unconfirmed reports, with that meeting expected to be followed by a trilateral meeting with Trump to reach a final agreement to end the war between Kyiv and Moscow. (Reuters<\/a> | Semafor<\/a> | CNBC<\/a> | Bloomberg<\/a>)<\/p>\n

<\/p>\n

*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> EnterpriseAM\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p>\n

In today\u2019s issue: <\/strong>We look at how our carbon market \u2014 Africa\u2019s first \u2014 has fared since its launch.<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, friends. We have a light issue for you this morning led by tax news as we look into how the Finance Ministry plans to implement the new VAT on crude oil. We also bring you a little bit of debt news with Beltone Mortgage closing its first securitization issuance. 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The meeting was initially\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":591965,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/23\/what-were-tracking-on-monday-23-december-2019\/","url_meta":{"origin":670387,"position":1},"title":"What we\u2019re tracking on Monday, 23 December 2019","author":"enterpriseam admin","date":"23 December 2019","format":false,"excerpt":"The long-awaited cabinet shuffle materialized yesterday, bringing six new faces to the cabinet table and a handful of surprises, including Prime Minister Moustafa Madbouly being tapped to drum up investment in all of its flavors. We have chapter and verse in this morning\u2019s Speed Round, below. We also have a\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":559839,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/07\/what-were-tracking-on-7-february-2021\/","url_meta":{"origin":670387,"position":2},"title":"What we\u2019re tracking on 7 February 2021","author":"enterpriseam admin","date":"7 February 2021","format":false,"excerpt":"Good morning, everyone, and welcome to a new workweek. You have 77 days left until your next holiday and c. 65 days left until Ramadan. Just sayin\u2019.IN THE HOUSE TODAY- CIT Minister Amr Talaat and Planning Minister Hala El Said will present their policy priorities to MPs today and tomorrow,\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":559755,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/03\/what-were-tracking-on-3-february-2021\/","url_meta":{"origin":670387,"position":3},"title":"What we\u2019re tracking on 3 February 2021","author":"enterpriseam admin","date":"3 February 2021","format":false,"excerpt":"Good morning, friends, and welcome to a very busy newsday as we spin into the home-stretch of the week. THE BIG STORY AT HOME- Travelers from Egypt and 19 other destinations will be barred from entering Saudi Arabia as of today as the kingdom tries to curb the spread of\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":559796,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/04\/what-were-tracking-on-3-february-2021-2\/","url_meta":{"origin":670387,"position":4},"title":"What we\u2019re tracking on 3 February 2021","author":"enterpriseam admin","date":"4 February 2021","format":false,"excerpt":"Good morning, everyone \u2014 we made it through another week together, and our just reward is \u2026 rainapocalypse?Today would be a great day to WFH: Expect rain with intermittent thunder and lightning in Cairo and Alexandria, the national weather service says. Rain is also forecast to sweep the Delta, there\u2019s\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":552021,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/07\/this-evening-farid-is-stepping-into-omrans-fra-position-its-a-slow-afternoon-in-the-foreign-press\/","url_meta":{"origin":670387,"position":5},"title":"THIS EVENING: Farid is stepping into Omran\u2019s FRA position + It\u2019s a slow afternoon in the foreign press","author":"enterpriseam admin","date":"7 August 2022","format":false,"excerpt":"Good afternoon, ladies and gentlemen. We\u2019re easing gently into this new workweek with a comparatively calm news cycle today.THE BIG STORY TODAY Farid is stepping into Omran\u2019s shoes at the FRA: EGX boss Mohamed Farid has been tapped as acting head of the Financial Regulatory Authority (FRA) for one year,\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/670387","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=670387"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/670387\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/670385"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/670388"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=670387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=670387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=670387"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=670387"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=670387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}