Good morning, dear readers. Our publication today is full of investment news and Egypt’s efforts to strengthen its economic relations with the countries of the region.
Bad news for the automotive industryDomestic car sales fell 25% last month, more than double the rate of decline in March, and the decline may be greater in May sales.
More about this in our post this morning.
happens today –
Today, Monday, begins the activities of the community dialogue discussion session on the second phase of the comprehensive strategy for the development of non-financial activities Banking (2022-2026), According to what the Egyptian Financial Supervisory Authority said in a press release (PDF) yesterday. Over the four years, the government has identified six key axes of business strategy, including improving the use of financial technology, accelerating digital transformation, achieving financial inclusion and improving risk management.
Competitions continue today El Gouna International Open Squash Championship 2022, and lasts until the following Friday, June 3, These include some of the players on the rankings, such as world number one Nouran Gohar, and second number one Ali Farag, who recently won the world championship under the auspices of the Commercial International Bank. The total prize pool for both men’s and women’s competitions is $ 180,000.
US financial markets closed today to celebrate Memorial Daya federal holiday in the country celebrated on the last Monday in May, in honor of U.S. soldiers who died on the battlefield.
Good news for investors: Minister of Trade and Industry Nevin Jameh said that there are requirements to issue licenses for industrial lands within just 20 days, in order to simplify procedures for investors. In a telephone call with Ahmed Moussa, during the “On My Responsibility” program (see: 3:04), the Minister explained that the Minister would be responsible for issuing licenses and obtaining approvals from various authorities, while the current system requires the investor. to obtain 14 approvals before he can from obtaining the license.
The world’s most prominent news –
The European Union may no longer impose sanctions on RussiaA German minister has warned that the European Union’s consensus to impose sanctions on Moscow is beginning to unravel after the bloc failed to agree on a plan to ban Russian oil imports. (Bloomberg, Financial Times, Reuters)
In the latest developments in the war: Ukrainian President Volodymyr Zelensky described the situation in the east of the country as “indescribably difficult”, at a time when Russian forces are still bombing cities in the Luhansk region. Yesterday, Russian Foreign Minister Sergei Lavrov said that what he called the “liberation” of the Donbass region was an “unconditional priority” for Moscow, noting that Russia would continue to make progress until it two regions in eastern Ukraine fully controlled. (Associated Press l Reuters l BBC)
China moves to ease its restrictions: The Chinese city of Shanghai will lift “unreasonable” restrictions on businesses from June 1, while Beijing has reopened parts of public transportation as well as some shopping malls and other places with a low rate of “Covid-19” infection, according to Reuters. The two cities were subject to strict closures that lasted for weeks, raising fears that the economy could enter a recession.
This morning, Asian markets and US futures rose higher. The Hang Seng and Nikkei indices rose more than 2%, while Chinese equities rose modestly. Futures trading shows similar gains in European equities in early trading this morning.
in notebook –
Tomorrow, Tuesday, is the last opportunity for companies listed on the Egyptian Stock Exchange to announce the results of the first quarter of 2022. After the Financial Regulatory Authority extended the deadline by an additional two weeks.
Tuesday also ends with the deadline for applications export support program of the Information Technology Industry Development Agency (ITIDA). The program aims to encourage technology companies operating in the local market to increase their exports while reducing costs.
Busy week through conferences:
You can view the full notebook at Our website, In which you will find a comprehensive list of upcoming news events, national holidays, conferences and everything that affects the business and financial community.
This morning we are offering you Blackboard again. Enterprise’s first specialized newsletter Focus on education in EgyptFrom pre-primary education to higher education. It contains a mix of news, analysis, data and figures, to enrich the dialogue between specialists in this sector and to inform non-specialists of its key developments. Blackboard comes out every Monday and you can get it at the end of the newsletter.
in today’s issue: While strong academic achievement is a key component of admission requirements in educational institutions, athletic achievement among basic and pre-university students also provides a path to progress in the academic field, with similar financial benefits. Sports scholarships for top-performing athletes, which are always available at universities in countries such as the United States and Canada, are also available at many private universities in Egypt. Today we provide a summary of the scholarships and financial support packages available to young athletes.