Good morning, dear readers. Our bulletin this morning is full of news about legislation, plans for government presentations, With the start of the community dialogue on the state ownership document yesterday.
Mohammed bin Salman visits Cairo: Saudi Crown Prince Mohammed bin Salman arrives in Cairo today for talks with President Abdel Fattah El-Sisi. The expected visit comes within the framework of a three-day tour, which also includes Jordan and Turkey. On the agenda: The impact of the Russian war in Ukraine on the region and the visit of US President Joe Biden to Riyadh next month.
Are you signing an agreement tomorrow to export Egyptian gas to Lebanon? Egypt may sign the final agreement to export natural gas to Lebanon tomorrow, Tuesday, a move that – assuming the United States agrees to the agreement – will pave the way for the start of gas shipments to Lebanon later this year.
The most prominent news locally – Some members of the House of Representatives criticized the draft general budget for the financial year 2023/2022They said it was not enough to cover the rising cost of debt service.
Today, Monday, the House of Representatives continues to debate The state’s general budget for the next financial year 2023/2022 And thesustainable development plan for the second day Ready for a possible final vote on it tomorrow.
On the bright sideThe government seems to be making good progress with its proposal plans, with the launch of the first sessions of community dialogue on the state ownership document, which started with the agricultural sector yesterday.
The most prominent news in the world – French President Emmanuel Macron’s party fails to win an absolute majority in Parliament, It achieved shocking results after the legislative elections were held yesterday. The results showed an increase in the popularity of both the left and the far right candidates, raising fears of a further split in the French political scene. More via BBC, Politico, Financial Times, CNN, Reuters and France 24.
happens today –
Today concludes the first activities Egyptian venture capital investment summit, Which will be held for two days at the Nile Ritz-Carlton Hotel in Cairo, under the auspices of the Central Bank, with the participation of the German Agency for International Cooperation, the Africa Grow Fund and the Change Labs Foundation, according to a press release release (PDF). About 400 experts and investors at local and international level participated in the summit.
Events kick off Egypt Builders Conference At the JW Marriott Hotel Cairo today. The event brings together business leaders, investors and policymakers involved in the construction and contracting sectors to discuss the industry in Egypt, the Middle East and Africa.
We follow this week –
go down Aswan Forum for Sustainable Peace and Development In its third issue in Cairo tomorrow and lasts until Wednesday.
The Monetary Policy Committee of the Central Bank of Egypt will meet next Thursday to review interest rates. The majority of economic analysts included in the regular Enterprise poll expected the central bank to keep interest rates unchanged.
About 70,000 people applied to take part in the forthcoming national dialogue. According to what was reported by Al-Watan website. The state has invited more than 400 public figures to take part in the dialogue, which is expected to begin during the first week of July.
To find out more about the National Dialogue, click here.
IMF priced international BEgypt’s efforts to tackle climate change In his latest “Countries in the Spotlight” episode released last Thursday, he referred to the national climate change strategy and the region’s leadership in green bond issues. The fund also noted the growing role of the private sector in Egypt’s efforts to adapt to climate change.
Correction – We apologize to dr. Mahmoud Mohieldin, for whom we made a mistake in his post yesterday. Mohieldin is the United Nations Special Envoy for the financing of the 2030 Agenda for Sustainable Development and Executive Director of the International Monetary Fund, in addition to being a climate pioneer for the Egyptian presidency of the COP27 climate summit. Mohieldin is no longer the World Bank Group’s Vice President for the 2030 Development Agenda, as we wrongly mentioned yesterday. We once again apologize to dr. Mahmoud Mohieldin, for whom we all respect and admire at Enterprise. This has been corrected on our website.
Orientals for smoking you will review The prices of its products, including cigarettes and honey, at the end of this month, in view of the high cost of production and the repercussions of the high prices of production inputs and the scarcity of raw materials, according to the statements of the managing director of the company, Hani Aman, to Habi newspaper. Aman said last month that the supply chain crisis was causing problems for the company, which was facing shortages of raw materials and shipping disruptions.
Taxpayers can get partial relief from late fines provided they pay the tax due before 30 June. The draft law prepared by the Ministry of Finance provides that financiers are exempt from part of the delay consideration and the additional tax on delayed income tax, value added tax, stamp duty and development fees. The bill received coverage of the two programs “Al-Youm” on DMC (see 4:33), and “Al-Tahrir Hall” on Sada Al-Balad (see: 5:48).
NATO Secretary-General: Russia’s war against Ukraine could last for years. Providing Ukraine with more weapons is critical if it is to push Russian forces out of its territory, which could take “years,” according to NATO Secretary-General Jens Stoltenberg, quoted by Reuters.
Lots of wheat..but no place to save: Ukrainian farmers are preparing for the new wheat crop as silos accumulate near their capacity as grain harvested last year and a Russian blockade on the Black Sea leaves the country unable to export, reports the Wall Street Journal. Ukraine has about 30 million tons of grain trapped in its silos. The government says it will need another 10-15 million tonnes of storage once the harvest starts later this year.
The European Union and the United States can help: The European Union offered to store Ukraine’s surplus grain, while the United States offered to build silos on the Polish border.
Despite the Russian blockade, the European Union hopes to find a way out for the exit of Ukrainian wheat shipmentsEuropean Union foreign ministers will discuss in Luxembourg today how to proceed with plans for a UN-sponsored corridor that could allow Ukrainian wheat shipments to pass through the Black Sea ports besieged by Russian forces, following talks between Russia and Turkey had earlier collapsed over that plan. this month. , according to Reuters. It is not yet clear whether the European Union is considering allowing military forces to escort any ships attempting to cross the blockade.
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Takes place Big 5 Egypt School Hall for Building During the period 25-27 Juneat the Egypt International Exhibition Center.
The US Chamber of Commerce in Cairo will hold its annual general meeting on Monday, June 27. The St. Regis Cairo. Finance Minister Mohamed Maaait will address the meeting.
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: What are the main factors that will shape the basic education sector in the Middle East and North Africa in the future? The education sector is becoming increasingly important in Egypt, Saudi Arabia and the UAE as governments increase their spending on the sector over the years. The population growth in the region has made it necessary to increase investment in basic education, as both the public and private sectors play a crucial role in ensuring that there are enough seats to absorb new students. However, affordability remains an issue when it comes to the quality of education, an obstacle that the region has yet to address.