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Al Ahly Pharos에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Al Ahly Pharos 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.
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Manage episode 398672827 series 2987212
Al Ahly Pharos에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Al Ahly Pharos 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.

*Key news articles for today*

The CBE's Monetary Policy Committee (MPC) is meeting today to decide on interest rates for the first time in 2024. We reiterate our view that the MPC might prefer to keep rates unchanged, as long as stability still prevails on the currency front. Inflation readings have been capitalizing on favorable base effect recently. Besides, we believe any possible hike would be of little benefit compared to its fiscal costs.

The Fed left interest rates unchanged for the fourth consecutive meeting at a 22-year high of 5.25%-5.50%.

News have been circulating that a coalition of Emirati companies affiliated with the Emirate of Abu Dhabi agreed with the Egyptian government to buy land in the city of Ras El Hekma on the northwestern coast to establish a project with investments exceeding USD22 billion. However, government sources have reportedly said that there are currently no such agreements concluded with Emirati businessmen.

The Cabinet decided to cut funds allocated for investment in the current fiscal year’s budget by 15% and push back any new projects until 30 June 2024.

The Cabinet greenlit the executive regulations for the law scrapping tax exemptions previously granted to state entities and public-sector companies and projects.

Director of the Middle East and Central Asia Department at the IMF said that Egypt's GDP growth rate could increase by 5-6% if the government allows the private sector to play a leading role in Egypt's economy and reconsiders the role of the public sector.

The IMF warns that Israel’s war on Gaza is “exacerbating an already challenging environment for neighboring countries and beyond," highlighting possible impact on tourism and Suez Canal revenues.

Minister of Finance revealed the customs release for 20,500 cars has been completed, as part of the expats' cars initiative, during the period from 30 October 2023 until 29 January 2024, with a total transfer of USD667 million.

Member of the Board of Directors of the Federation of Egyptian Industries warned of the repercussions of the stifling crisis facing the industry in Egypt due to the high production costs and the FX shortage, which caused a decline in production and the halt of expansion plans.

CLHO intends to invest around EGP2 billion over 18 months in growth capex, directed to the completion of Phases 1 and 2 of Sky Hospital in East Cairo, the expansion of Cleopatra October in West Cairo, and the expansion of polyclinic activities.

EFIH is preparing to acquire a stake in an electronic payments company during February 2024.

GBCO plans to expand the introduction of electric cars in the local market during the upcoming period.

A delegation from the Indian company ICON visited KIMA's factory in Aswan to prepare for the technical studies of the rehabilitation of the ammonium nitrate production line as well as the warehouses of the final products.

Taqa Arabia’s Taqa Power subsidiary Taqa Volt will develop, manage, operate, and maintain nine EV charging stations in New Cairo’s Cairo Festival City.

The Ministry of Petroleum approved allocating 60 km in Gulf of Suez as two new oil concessions to the General Petroleum Company (GPC).

OPEC+ members will review the oil cartel’s ongoing production cuts during a Joint Ministerial Monitoring Committee today.

The European Bank for Reconstruction and Development (EBRD) will be granting HRHO’s microfinance arm Tanmeyah the EGP equivalent of up to USD10 million.

The CBE denied putting limits on daily cash withdrawals from banks.

CNFN’s securitization arm, Sarwa, is planning to issue Islamic sukuk worth EGP2.5 billion by the end of February.

AIH has finalized the sale of its 99.8% stake in the Arabian International Contracting Company for EGP74.9 million.

  continue reading

1232 에피소드

Artwork
icon공유
 
Manage episode 398672827 series 2987212
Al Ahly Pharos에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Al Ahly Pharos 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.

*Key news articles for today*

The CBE's Monetary Policy Committee (MPC) is meeting today to decide on interest rates for the first time in 2024. We reiterate our view that the MPC might prefer to keep rates unchanged, as long as stability still prevails on the currency front. Inflation readings have been capitalizing on favorable base effect recently. Besides, we believe any possible hike would be of little benefit compared to its fiscal costs.

The Fed left interest rates unchanged for the fourth consecutive meeting at a 22-year high of 5.25%-5.50%.

News have been circulating that a coalition of Emirati companies affiliated with the Emirate of Abu Dhabi agreed with the Egyptian government to buy land in the city of Ras El Hekma on the northwestern coast to establish a project with investments exceeding USD22 billion. However, government sources have reportedly said that there are currently no such agreements concluded with Emirati businessmen.

The Cabinet decided to cut funds allocated for investment in the current fiscal year’s budget by 15% and push back any new projects until 30 June 2024.

The Cabinet greenlit the executive regulations for the law scrapping tax exemptions previously granted to state entities and public-sector companies and projects.

Director of the Middle East and Central Asia Department at the IMF said that Egypt's GDP growth rate could increase by 5-6% if the government allows the private sector to play a leading role in Egypt's economy and reconsiders the role of the public sector.

The IMF warns that Israel’s war on Gaza is “exacerbating an already challenging environment for neighboring countries and beyond," highlighting possible impact on tourism and Suez Canal revenues.

Minister of Finance revealed the customs release for 20,500 cars has been completed, as part of the expats' cars initiative, during the period from 30 October 2023 until 29 January 2024, with a total transfer of USD667 million.

Member of the Board of Directors of the Federation of Egyptian Industries warned of the repercussions of the stifling crisis facing the industry in Egypt due to the high production costs and the FX shortage, which caused a decline in production and the halt of expansion plans.

CLHO intends to invest around EGP2 billion over 18 months in growth capex, directed to the completion of Phases 1 and 2 of Sky Hospital in East Cairo, the expansion of Cleopatra October in West Cairo, and the expansion of polyclinic activities.

EFIH is preparing to acquire a stake in an electronic payments company during February 2024.

GBCO plans to expand the introduction of electric cars in the local market during the upcoming period.

A delegation from the Indian company ICON visited KIMA's factory in Aswan to prepare for the technical studies of the rehabilitation of the ammonium nitrate production line as well as the warehouses of the final products.

Taqa Arabia’s Taqa Power subsidiary Taqa Volt will develop, manage, operate, and maintain nine EV charging stations in New Cairo’s Cairo Festival City.

The Ministry of Petroleum approved allocating 60 km in Gulf of Suez as two new oil concessions to the General Petroleum Company (GPC).

OPEC+ members will review the oil cartel’s ongoing production cuts during a Joint Ministerial Monitoring Committee today.

The European Bank for Reconstruction and Development (EBRD) will be granting HRHO’s microfinance arm Tanmeyah the EGP equivalent of up to USD10 million.

The CBE denied putting limits on daily cash withdrawals from banks.

CNFN’s securitization arm, Sarwa, is planning to issue Islamic sukuk worth EGP2.5 billion by the end of February.

AIH has finalized the sale of its 99.8% stake in the Arabian International Contracting Company for EGP74.9 million.

  continue reading

1232 에피소드

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