What we’re watching this morning: US midterm elections + Egypt hosts world golf tournament

Good morning, dear readers, and welcome to a new edition full of summit news COP27.

But before we start, we’d like to share with you how to cover the summit Our bulletins else:

  • Business Morning BulletinIt will focus on the aspects most relevant to Egypt at the summit, summarizing what is being raised at the regional and international level. As always, our focus outside of Egypt will be on emerging markets.
  • Enterprise Evening Bulletin, It provides an afternoon update on key developments at the summit, and will also show you a deeper analysis of climate-related issues.
  • Business climateand provide you with in-depth analysis of climate finance, loss and damage finance, energy transition and other topics of interest to our audience in the region – Enterprise Climate is a regional publication covering the Arab world from Morocco to Oman.

Enterprise Climate launched this morning CEO Survey. And our guest today is Mohamed Saad El Din, Regional Director of Signify. We will be interviewing executives on climate issues during COP27 (and possibly a few days after) through our Enterprise Climate and Enterprise Morning Posts.

Good news – Saad Eddin says so Mean It views Egypt as a center for exporting its products to African markets. We would like to point out here that we at Enterprise have presented a five-step recipe that policymakers can follow to change the course of the Egyptian economy for the better by seizing the golden opportunity that Egypt currently has to build an export-oriented economy this makes it a global destination for foreign direct investment.

The pound continued to fall against the dollar Yesterday, it fell 0.2% to record the greenback at 24.37 pounds, according to central bank data. The local currency’s losses have amounted to 23.3% since the Central Bank’s decision to move to a permanently flexible exchange rate at the end of last October, and 55.4% since its devaluation last March.

World Golf Championship heading to Egypt: The “Asian Tour” will launch the “International Golf Series” Championship in Egypt for the first time next Thursday, November 10th and will last until Sunday, November 13th. The country’s first “International Series” tournament will be held at the Golf Club in Madinaty, with a prize pool of $1.5 million.

summit agenda COP27

!_Anker02_! This is the second day of the World Leaders Summit: The session is expected to start at 10:30 am. Cairo time (11:30 am Saudi Arabia time | 12:30 pm UAE time) starts and according to the agenda (PDF) continues until the end of the day.

Include List of speakers today (PDF):

  • Leaders of Arab countries, including the head of the Libyan Presidential Council Mohammed Al Manfi, And the Lebanese Prime Minister Najib Mikatiand the Tunisian Prime Minister Naglaa Bouden Ramadan, The Palestinian prime minister Muhammad Shtayyeh.
  • European leaders, such as the president of the European Council Charles MichelUrsula von der Leyen, President of the European Commission;
  • South African president Cyril Ramaphosa.

Among the most important round tables today are the following:

  • “Vulnerable communities” (PDF) – in other words, all the ways climate is driving us from our lands and our homes. There are 10 million displaced people in Pakistan and 1.1 million in Somalia. What do we think will happen here if Alexandria begins to sink under the sea?

approximately…? There are not expected to be any major announcements or major developments after the leaders finish their speeches today. The main issues at hand (loss and damage, emission reduction targets, etc.) are being negotiated by government delegations over the next 10 days, so we will likely wait until November 18 for a final agreement from COP27.

Today, Egypt will sign partnership agreements and letters of intent with the International Finance Corporation and development partners to implement the projects of the national platform Green Projects Program “New”According to a statement by the Ministry of International Cooperation.

Egypt begins today the first real production of green fuel: The Suez Canal Economic Zone intends to announce within the coming hours the start of the first real production of green ammonia in the industrial zone of Ain Sukhna, according to a press release.

It is expected that the economic department of the Suez Canal will sign a number of agreements with international companies To set up plants to produce green hydrogen and green ammonia during the ongoing COP27 climate summit. Egypt signed initial agreements worth about $33 billion this year, the most recent of which was with Maersk to establish a giant project with investments of $15 billion to produce three million tons of green fuel annually.

Egypt may sign new climate-related agreements with International Finance: The International Finance Corporation is working on several climate-related agreements with the Egyptian government, Vice President Emmanuel Nyrinkende said in an interview with CNBC Arabia (watch, runtime: 3:58), without giving further details. In another context, Nirenkindi said: “The International Finance Corporation will announce $2 billion in new funding for climate-related and other innovative projects.”

!_Anker09_! Enterprise Climate X Forum – the first dedicated forum organized by Enterprise – takes place on Tuesday 6 December. The forum will be at the level of senior corporate executives, investors, bankers and development finance officers.

Through panel discussions, live interviews and networking sessions, Enterprise Climate X Forum will give insiders and newcomers a chance to talk about how to build a climate-centric business How to make sure your business continues to get the money it needs to grow. We expect the forum to be bus With lessons learned in Egypt and other global growth markets – and many success stories.

We have partnerships with some of the biggest names in business and finance – have you? The Enterprise Climate X Forum is held with the generous support of our friends, including:

  • Banking partners: HSBC | Mashreq Bank | Attijariwafa bank
  • Communication partner: Contacts of &e
  • event partners: Hassan Allam Utilities | Infiniti

For those who wish to attend, the first batch of invitations will be sent today. If you are a manager, a company owner, a climate specialist, an official in a development finance institution, an investor or a banker, please write to us via climatexrsvp@enterprisemea.com, to tell us what you want to attend, and please write your name, job title and employer.

We will announce the location for the forum next week and we hope you like it.

Want to reach our audience? Please contact Mustafa Talab, our Commercial Sector Manager, here.

The world’s most prominent news –

This morning, international newspapers highlighted the mid-term elections in the United States, at a time when Democrats and Republicans are wrapping up their campaigns before voters head to the polls later today. (Reuters l Associated Press l The Washington Post l The New York Times l The Wall Street Journal)

Final predictions: Five Thirty-Eight predicts that the Republicans are the closest to controlling Congress, and they are also close to beating the Democrats in the Senate race. Politico made similar predictions, saying Republicans are closest to controlling the House of Representatives, while saying the contest is close for the Senate. Republicans only need to win five seats in the House of Representatives and one seat in the Senate to control both houses.

Strong performance for US markets: Stocks on Wall Street posted significant gains in trading yesterday, amid mounting expectations of significant gains for Republicans in the House of Representatives. The Standard & Poor’s 500 index rose 1%, and the Nasdaq rose 0.9%, after Meta shares rose 6.5%, following reports that the company plans to lay off thousands of its employees . More via Reuters and Financial Times.

Will Trump announce his candidacy for the 2024 election next week? Former President Donald Trump said he will announce some very important news on November 15th.

happening today –

Summit activities endTechnology 2022Technology and Entrepreneurship in the Bibliotheca Alexandrina Today. Many entrepreneurs and investors from various sectors in the Mediterranean will participate in the event.

Today, the Senate Education and Communications Committee begins debating a bill establishing the Digital Egypt Fund. The draft law, which was approved by the Council of Ministers last year, aims to improve the objectives of the Digital Egypt initiative adopted by the Ministry of Communications and Information Technology.

You can see the full notebook at Our website, Here you will find a comprehensive list of upcoming news events, national holidays, conferences and everything that matters to the business and financial community.

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