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Tuesday, 14 March 2023

Last Night’s Talk Shows: Sisi meets Danish PM + more SVB talk

Foreign affairs led the conversation during last night’s talk shows. All eyes were on President Abdel Fattah El Sisi meeting with Danish Prime Minister Mette Frederiksen, who discussed boosting Danish investments in green energy, logistics, and transportation, among a handful of other topics, which we dive into in this morning’s Diplomacy section, below. The meeting received coverage from Al Hayah Al Youm (watch, runtime: 3:00), Masa’a DMC (watch, runtime: 1:19), Kelma Akhira (watch, runtime: 6:03), and Ala Mas’ouleety (watch, runtime: 22:23).

The latest victim of the SVB collapse: The EGX. “The EGX dipped during yesterday’s trading as a result of global fear that the banking sector is heading towards a financial crisis,” EGX board member Rania Yacoub told Ala Mas’ouleety (watch, runtime: 7:12), which also hosted analyst Anwar El Kasem to weigh in on the issue (watch, runtime: 17:05).

How are EMs doing amid the chaos? “Emerging markets are seeing outflows due to the SVB collapse, adding pressure on their currencies to lose even more of their value, and on interest rates to increase even more,” Wael Ziada, executive chairman of Zilla Capital told Kelma Akhira (watch, runtime: 7:24). Capital markets expert Wael Enaba told El Hekaya (watch, runtime: 9:47) also joined El Hekaya’s Amr Adib to discuss the crisis.

We have the latest updates on the SVB story and its impact on the EGX in this morning’s What We’re Tracking Today, above.

ALSO- A record number of vessels crossed the Suez Canal yesterday: Some 107 vessels transited the canal yesterday, setting a new daily record for the canal. The news got coverage from Masa’a DMC (watch, runtime 0:43), Al Hayah Al Youm (watch, runtime: 15:55), and Ala Mas’ouleety (watch, runtime: 6:20).

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