Good afternoon, ladies and gentlemen. The news cycle both here at home and abroad is dominated this hump day by all things macro, as the IMF dropped its World Economic Outlook while its annual meetings with the World Bank roll on.

THE BIG STORY TODAY + ABROAD

The IMF revised downwards its forecast for Egypt’s GDP growth in FY 2022-2023 to 4.4%, according to its updated World Economic Outlook, which was released just minutes before we shipped out this afternoon’s edition. The revised forecast is 1.5 percentage points lower than it had anticipated in its July edition of the report.

The fund sees global GDP growth remaining unchanged from its previous forecasts this calendar year at 3.2%, but revised downward its projection for next year’s growth by 0.2 percentage points to 2.7%. The report also sees a “25% probability that it could fall below 2%” in 2023.

^^We’ll have the full rundown of the report in tomorrow’s edition of EnterpriseAM.

** CATCH UP QUICK on the top stories from today’s EnterpriseAM:

• Inflation accelerated again in September as price shocks continue to linger, rising to 15.0% amid an ongoing surge in living costs fuelled by the war in Ukraine and a weaker EGP.
• Capiter meltdown could end up in court: The two co-founders of B2B e-commerce startup Capiter have filed a lawsuit with the public prosecutor’s office against the company’s board of directors over their recent firing, co-founder Mahmoud Nouh said.
• CI Capital Asset Management has launched an equity fund tracking the EGX30 Capped index, which it says is the first of its kind in the local market.

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The EGX is looking to drum up interest in listed companies on a roadshow to Dubai and Abu Dhabi later this month, an EGX source told Enterprise. The bourse has tapped Al Ahly Pharos to help manage the roadshow, with EGX boss Rami El Dokany set to meet with as many as 100 regional and international financial institutions, the source said.

We’re celebrating 50 years of ties with the UAE in a three-day event in Cairo from 26-28 October, under the slogan “UAE and Egypt … One Heart,” according to a statement. The event will highlight the economic and investment ties the two countries have built over the decades, as well as cultural links.

Fuel prices to rise this month? We’re expecting the government to hike fuel prices for the seventh consecutive quarter when the fuel pricing committee meets this month. Fuel prices have risen by as much as 28% over the past 18 months in response to heightened international oil prices, which surged earlier this year on the back of Russia’s invasion of Ukraine.

Smart Green Governorates shortlist coming next month: Egypt’s Smart Green Governorates initiative will announce the full shortlist of 60 projects for the initiative at a conference early next month, according to a cabinet statement. The initiative’s technical committee is currently in the process of whittling down the shortlist from 162 projects to 60 (10 projects from each of the six categories), which will be presented to a national jury to select the final 18 projects. These will be showcased to investors at COP27.

⛅TOMORROW’S WEATHER- Expect a partially cloudy day tomorrow, with temperatures rising to 31°C during the day before falling to 19°C at night, our favorite weather app tells us.