Port Said for Engineering Works heeds government call to restart local foil production with USD 80 mn factory

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WHAT WE’RE TRACKING TODAY

Round two of the National Artificial Intelligence Strategy incoming

Good morning, folks. Both at home and abroad, notable business news stories are few and far between this morning. We’ve put together all the must-know stories from the local business news cycle below in an unusually slim edition for you to read through this morning.

PSA-

WEATHER- It’s another autumnal day in Cairo today, with a high of 26°C and a low of 17°C, according to our favorite weather app.

It’s much the same in Alexandria, with a high of 25°C and a low of 16°C.

And over the weekend, expect to see temperatures in the capital and on the Mediterranean start to dip one or two degrees as we edge closer to winter.

** DID YOU KNOW that we now cover Saudi Arabia and the UAE?

** Were you forwarded this email? Tap or click here to get your own copy delivered every weekday before 7am Cairo time — without charge.

WATCH THIS SPACE-

The second phase of the National Artificial Intelligence Strategy is set to kick off soon, CIT Minister Amr Talaat said in a ministry statement. The second phase follows the passage of a raft of legislation strengthening the legal and regulatory framework for AI in Egypt, alongside continued efforts to explore new applications for the rapidly developing tech across all sectors of the economy.

What could we see in the second phase? While Talaat’s statement was light on details, the government’s 2019 national AI strategy focused on four main pillars: using AI to enhance government processes and service delivery; deploying AI in strategic sectors in order to reach local development goals; harnessing AI to create jobs and build human capacity; and working with other countries to encourage technology transfer and cooperation.

HAPPENING NEXT WEEK-

#1- The House is back in session: Lawmakers will reconvene on Sunday after a 11-day break to decide whether to give the Criminal Procedures Law its preliminary appeal, after having postponed the decision to allow more MPs to discuss and contribute to the bill.

Also on the agenda going forwards: The Madbouly government has emphasized that it wants to see the newly redrafted Labor Act passed into law before the end of the year. The original act drafted earlier this year triggered criticism from business associations, who argued that the “draft law is unbalanced, giving workers a lot of rights at the expense of duties.”

#2- It’s interest rate decision time for the central bank’s Monetary Policy Committee: The Central Bank of Egypt’s Monetary Policy Committee (MPC) will meet exactly a week away from now to decide the country’s interest rate path ahead. Currently, the overnight deposit rate is set at 27.25%, the overnight lending rate at 28.25%, and the main operation and discount rates at 27.75%.

The committee has held rates steady for the last four meetings: Rates have remained unchanged since the committee delivered a 600 bps rate hike following a surprise monetary policy meeting in March in conjunction with the float of the EGP and a larger loan package from the IMF being approved soon after. Rates have now remained unchanged for four consecutive MPC meetings — the committee left rates untouched when it met in May, July, September, and most recently in October.

How will the central bank act in light of recent inflation data? Inflation data for October showing headline inflation extending its upward trajectory for a third consecutive month to 26.5% y-o-y has strengthened the case for the Central Bank of Egypt to keep rates unchanged at its next meeting, several analysts seem to agree. The figures “underscore our view of stable rates ‘until further notice’,” Al Ahly Pharos analyst Esraa Ahmed wrote in a note seen by EnterpriseAM.

#3- Africa’s top auto aftermarket and feeder industries exhibition is coming to town starting Sunday: The capital will host Autotech 2024, “the premier hub that brings together the biggest industry professionals in the automotive aftermarket and feeding industries,” on 17-19 November and welcome over 9k attendees and over 300 exhibiting companies. The event is also being billed as a chance to network with others in the sector, hold B2B meetings, and see leading figures in the industry speak. Check out the conference’s agenda and find the link to register on the event’s official website.

THE BIG STORY ABROAD-

Not much has changed: US president-elect Donald Trump’s cabinet choices continue to top the front pages this morning. His latest appointments — Tulsi Gabbard as director of national intelligence and Matt Gaetz as attorney general — further cement the view that Trump is relying more on loyalty than qualifications to guide his choices. Many of his picks lack a CV with clearly relevant or sufficient prior experience, while other nominations — such as Marco Rubio as secretary of state — are “sprinkled in” as “more conventional selections.” Trump is also reportedly looking at what would be an “unprecedented shakeup” at the Pentagon, after talking about purging “woke generals” as part of his campaign. (Reuters | Bloomberg | Financial Times)

ELSEWHERE- Brazil evacuated its supreme court after two bombings in Brasilia that killed the suspected bomber. The explosions come a few days before the G20 summit is scheduled to kick off in Rio de Janeiro. (Reuters | Bloomberg)

Palm Hills to set up schools, urban projects in KSA under agreement with Saudi Dallah Real Estate

PHD’s Saudi expansion gains momentum: Real estate developer Palm Hills Developments (PHD) and Saudi investment group Dallah Albaraka subsidiary Dallah Real Estate made official their plans to develop integrated, multi-use urban projects and 15 international schools in the kingdom under a newly-inked partnership agreement between the two firms, PHD said in a statement (pdf).

The details: The two sides will work together to set up 15 new schools in the kingdom over the next decade and over a 30-year partnership build integrated urban communities. The two sides will set up a joint venture to carry out the projects.

Who owns what: PHD will hold a 60% stake in the new joint venture and Dallah Real Estate will own the remaining 40%, the statement read. The partnership is set to see combined investments of some USD 300 mn, PHD Chairman Yasseen Mansour said in September.

Remember: Palm Hills set up its Saudi branch back in August, joining other Egyptian real estate players that have recently entered the Saudi market.

What they said: “Palm Hills’ decision to expand into the Saudi market came after witnessing significant growth in the kingdom’s real estate sector recently, with the sector becoming the second largest contributor to the Saudi economy. This expansion is also driven by the kingdom’s numerous initiatives to encourage private sector participation and attract foreign investments in the real estate sector, making it an ideal environment for expanding our business,” Magued Sherif, the CEO of Palm Hills Development’s Saudi arm said.

Palm Hills also has big education plans for Egypt: PHD plans to set up 10 schools in the country within the next 10 years. The firm in September inaugurated Badya University, a joint venture between Palm Hills Developments and higher education outfit Taaleem.

Port Said for Engineering Works to build USD 80 mn foil factory. PLUS: Turkish, Chinese investors invest USD 50 mn in sanitary ware production in Egypt

Another company is heeding the government’s call to restart local foil production: Suez Canal Authority subsidiary Port Said for Engineering Works is set to establish a USD 80 mn aluminum foil factory in the Suez Canal Economic Zone (SCZone) in partnership with an unnamed Chinese investor, Al Borsa reported citing unnamed sources it says have knowledge of the matter.

The details: Construction on the project — which received its feasibility studies two weeks ago — will kick off in 1Q 2025. It will have an initial production capacity of 60k tons a year and plans to increase it to 100k tons by the end of the first year of operation.

The project is set to help meet growing local demand: The nation’s annual consumption of foil now sits somewhere between USD 120-140 mn, according to Industry Ministry data that Minister Kamel El Wazir recently emphasized to the House. This equates to the local consumption of 46.7 mn tons of aluminum foil annually, member of the Cairo Chamber of Commerce’s home appliances division, Sherif Abdel Moneim, previously told EnterpriseAM.

Despite the demand, there’s not a single factory currently producing it: After having been among the first countries to produce foil and being self-sufficient, the two factories that produced foil in the country faced financial pressures and rising raw material and energy costs, forcing them to halt production to avoid accumulating losses, Chamber of Engineering Industries head Mohamed El Mohandes previously told EnterpriseAM.

Large local demand and the lack of domestic production is racking up the nation’s import bill: Among other heavily imported items, President Abdel Fattah El Sisi recently pointed to the state’s import bill for foil — most of which comes from China — that totalled USD 512 mn between 2014 to 2023. Noting both the material’s import bill and importance to other industries, El Sisi called on investors to step up and help revive the industry.

Port Said for Engineering Works isn’t the only one with a foil factory in the works: EGX-listed Egypt Aluminium (EgyptAlum) is also looking to launch a USD 100 mn foil production line with an annual capacity of 50k tons — that will potentially be funded by German rolling and foil slitting technology specialist Achenbach.

**We did an Inside Industry deep dive into the country’s efforts to restart local foil production last month. Read the story here.

TURKISH, CHINESE INVESTMENTS IN EGYPT’S SANITARY WARE INDUSTRY-

Turkish and Chinese investors provide the capital to launch three new sanitary ware factories: The Cairo Chamber of Commerce’s sanitary ware division has secured some USD 50 mn from unnamed Turkish and Chinese investors to launch three sanitary ware factories, division head Fawzy Abdel Galil told Al Mal.

The breakdown: Of the two Chinese-owned factories, the one in Sixth of October kicked off operations earlier this month and the second in Sadat City is set to be inaugurated early next year. The third is a Turkish-Egyptian-owned project being set up in Sadat City that should kick off production in early 2025.

CI Capital, Eastern Company, and Heliopolis Housing report their earnings

Earnings, earnings, earnings. The earnings just keep on coming, with more companies out with their financials for the third quarter of the year.

CI CAPITAL SEES NET INCOME RISE 50% DURING 3Q 2024-

CI Capital’s net income after minority interest and taxes came in at EGP 344 mn for 3Q 2024 — up 50% from the same period last year, the company said in a pre ss release (pdf).

On a 9M basis: CI Capital’s net income after minority interest and taxes rose 116% y-o-y to a record high EGP 1.6 bn for the first nine months of the year, driven by continued top-line growth across all of the firm’s segments.

The company’s revenues climbed 52% y-o-y to around EGP 7.2 bn in 9M 2024. Revenues from its corporate leasing arm Corplease rose 37% y-o-y to EGP 3.6 bn, while its mortgage finance wing saw a 130% y-o-y jump in revenues to EGP 355 mn. The group’s investment bank also posted a 79% y-o-y increase in revenues to nearly EGP 1.3 bn.

The group’s total financing portfolio surpassed EGP 20 bn in 9M 2024 — Corplease’s financing portfolio stood at EGP 14.9 bn, while its microfinance arm Reefy’s loan portfolio rose to EGP 3.5 bn. CI Mortgage Finance’s outstanding portfolio stood at EGP 1.6 bn.

EASTERN COMPANY SEES IMPROVED NET INCOME + REVENUES-

Tobacco giant Eastern Company saw its net income rise 62% y-o-y to EGP 1.8 bn in 1Q FY 2024-25, according to the company’s latest financial statements (pdf). Net revenues rose by 162% y-o-y to EGP 8.1 bn, which the company attributed to 70% y-o-y increase in local sales volumes.

HHD ENDED 3Q IN THE GREEN-

Heliopolis Housing and Development (HHD) recorded EGP 347.3 mn in net income in 3Q 2024, a turnaround from losses of EGP 16.5 mn during the same period last year, thanks to the board prioritizing cost-cutting efforts during the three-month period, the company said in its latest financial statement (pdf). The real estate developer saw its operating revenues expand 12.8% y-o-y to EGP 159.5 mn during the three-month period.

What about 9M? The real estate developer recorded its net income rose to EGP 1.7 bn, up from EGP 8.0 mn in the first nine months of the year. The real estate company’s operating revenue increased 124.0% y-o-y to EGP 896.2 mn over the same period.

Mashreq’s global Climb2Change initiative expands to Egypt

Mashreq’s Climb2Change environmental cleanup initiative is coming to Egypt this month: Our friends at Mashreq are set to begin clean-up of three designated zones in Wadi Degla in November, as part of their wider Climb2Change global ESG initiative focused on sustainability-linked financing and environmental preservation, the bank said in a statement (pdf). The initiative aims to scale and clean up 14 mountain sites around the world, reaching seven peaks and seven base camps. Led by esteemed Egyptian adventurers Omar Samra and Manal Rostom, the project will focus on waste management and conservation promotion in one of Cairo’s natural wonders. Mashreq employees from Egypt and its global network will participate in the clean-up after receiving on-ground training in waste management.

This comes after Mashreq’s recent success in Pakistan: The Egypt expedition builds on Mashreq’s recent efforts in Pakistan, where the team achieved one of the highest-altitude clean-ups ever recorded at 23.8k feet on K2. Mashreq collected 1.7 tons of waste from various peaks and base camps, benefiting over 100 community members and 47 local businesses.

What they said: “Building on the success of our clean-up missions in Nepal and Pakistan, this initiative in Wadi Degla goes beyond conservation — it embodies our ambition to cultivate a culture of environmental stewardship and proactive climate action. Egypt, as a key market closely aligned with our strategic ESG objectives, provides an ideal setting for the next phase of Climb2Change, reinforcing our commitment to creating lasting impact through environmental and social initiatives,” group CEO Ahmed Abdelaal said.

Aton Resources to launch gold extracting and processing facility in 2026. PLUS: BP to drill two new wells, Sabbour Consulting expands to KSA, British Council promotes inclusion

MINING-

New gold extracting and processing factory in the works: Canadian gold miner Aton Resources will set up a gold extracting and processing facility to process finds from its Abu Marwat concession in the Eastern Desert, according to an Oil Ministry statement. The company is planning to launch the facility in 1Q 2026, the president of Aton subsidiary Abu Marwat Gold Mines, Ayman Ibrahim, told Al Borsa.

The details: The facility will feature advanced and environmentally friendly technologies that will maximize the extraction of gold and accompanying minerals from the concession’s Hamama and West Rodruin sites.

Remember: Aton and the Egyptian Mineral Resources Authority’s JV Abu Marawat Gold Mines Ltd inked an agreement with LSE-listed Capital Drilling earlier this week to drill up at least 5k meters in the Abu Marawat concession. The concession is slated to begin producing gold in 2026, after operations were delayed a year.

EDUCATION-

Education Ministry, British Council team up to promote inclusion for special educational needs students: The Education Ministry and British Council have launched a new initiative in collaboration with UNICEF to support the further integration of students with special educational needs into Egyptian schools, according to an Education Ministry statement. The campaign, dubbed Making Schools a Place for All Students, will see the British Council collaborate with education sector stakeholders and policymakers to develop action plans for inclusive schools and build capacity among local leaders and within school communities.

ENERGY-

BP to drill two more exploratory wells in January: Global energy giant BP is set to begin drilling two USD 160 mn exploratory natural gas wells in Egypt’s West Delta in January 2025, Asharq Business reports, citing an anonymous government source. The news follows BP’s announcement that it will invest USD 400 mn to drill two new wells at the Raven natural gas field in its North Alexandria concession during the current fiscal year.

EXPANSIONS-

Sabbour Consulting expands to KSA: Engineering consulting firm Sabbour Consulting signed an agreement with Nasser Nassif Engineering Consultancy to set up a consultancy firm in Saudi Arabia — dubbed Sabbour KSA, it said in an online post. Sabbour Consulting has been eyeing four potential projects totalling SAR 3 bn in KSA, including a residential compound, residential towers, a tourist resort, and a residential project in the Neom development.

DEBT-

Fresh details emerge about Misr Petroleum’s newly confirmed multi EGP bn syndicated loan: State-owned Misr Petroleum inked a syndicated loan agreement with nine banks for EGP 10 bn, according to a statement (pdf) from the National Bank of Egypt that confirmed earlier unconfirmed reports — and added some fresh details.

The breakdown:

The National Bank of Egypt led the syndicate, acted as arranger, coverage guarantor, marketer, financing agent, and contributed EGP 750 mn;
CIB acted as arranger, coverage guarantor, marketer, debt service account bank, and added EGP 2 bn;
QNB was arranger, coverage guarantor, financial marketer, document bank, and put forwards EGP 3 bn;
The Arab African International Bank played the role as arranger coverage guarantor, financing marketer, security agent, and added EGP 2 bn;
Banque du Caire was arranger, coverage guarantor, and contributed EGP 750 mn;
The National Bank of Kuwait was a coverage guarantor and EGP 500 mn;
Midbank was a coverage guarantor and put forwards EGP 400 mn;
EG Bank was a coverage guarantor and added EGP 300 mn;
And the Agricultural Bank of Egypt was a coverage guarantor and put EGP 300 mn in the pot.

What’s the money for? The fresh funds will help support the petroleum sector through current headwinds and help make it more competitive, according to the statement.

AVIATION-

Saudi’s Flyadeal adds flights to two Egyptian cities: Flyadeal launched two new routes — one connecting Madinah to Cairo and another connecting Jeddah to Sohag — the Saudi budget airline said (here and here). This raises the airline’s weekly flights between the kingdom and Egypt to 44, up from 39. The statement didn’t clarify the flights’ frequency on each of the new routes.

Traders still see the Fed slashing rates at next meeting despite US inflation edging up

US inflation data shows the US moving further away from the Fed’s 2% target as Trump prepares to re-enter the Oval Office: US inflation saw a slight increase in October to 2.6%, in line with expectations and 0.2 percentage points above the 2.4% recorded in September, according to the US Bureau of Labor Statistics. Core inflation, which excludes food and energy, remained steady at 3.3% but showed a third consecutive monthly increase of 0.3%, signaling persistent underlying price pressures. October’s data comes at a critical point for the US economy, as the Fed weighs its next move ahead of President-elect Donald Trump taking office early next year.

But traders don’t see the rise in inflation hampering the Fed’s road to monetary easing: Traders are pricing in an 80% chance of another rate cut when the Fed meets next to decide interest rates in mid-December, Bloomberg reports. During its last meeting earlier this month, the Federal Reserve cut rates by 25 bps, after having kicked off its easing cycle in September with a half a percentage point cut.

Some are already warning that Trump’s policies could complicate the Fed’s fight against inflation: Trump’s reelection and his proposed policies — tariffs, tax cuts, and mass deportations — could potentially push inflation higher. Economists are concerned that such measures could fuel price pressures while adding uncertainty, making the Fed’s task of achieving a “soft landing” even tougher. (Financial Times | BBC | New York Times | Guardian)

Market reax: Two-year Treasury yields, which are more sensitive to Fed decisions, fell as much as 10 bps after inflation data was released.

BTC HITS ANOTHER HIGH-

Another day, another BTC peak: BTC hit a fresh high of USD 93.2k yesterday before reversing some of its gains to sit at USD 88.9k at midnight, driven by inflation concerns and a strong post-election rally. (Reuters | Bloomberg | CNBC)

The cryptocurrency has been on a Trump-driven rally since Trump was reelected to the Oval Office on 5 November. We dove deeper into the rally in a Planet Finance published earlier this week.

MARKETS THIS MORNING-

Asian markets are starting mostly in the green during early trading this morning, with Japan’s Nikkei up 0.5%, followed by Korea’s Kospi at 0.4% in the green, and Hong Kong’s Hang Seng at 0.1%. China’s Shanghai index is trading in the red at -0.1%.

EGX30	31,433	-0.5% (YTD: +26.3%)
USD (CBE)	Buy 49.25	Sell 49.39
USD (CIB)	Buy 49.24	Sell 49.34
Interest rates (CBE)	27.25% deposit	28.25% lending
Tadawul	11,930	-1.0% (YTD: -0.3%)
ADX	9,372	-0.5% (YTD: -2.2%)
DFM	4,733	+0.7% (YTD: +16.6%)
S&P 500	5,985	+0.02% (YTD: +25.5%)
FTSE 100	8,030	+0.1% (YTD: +3.8%)
Euro Stoxx 50	4,740	-0.1% (YTD: +4.8%)
Brent crude	USD 72.28	+0.5%
Natural gas (Nymex)	USD 2.98	-0.3%
Gold	USD 2,586.50	-0.8%
BTC	USD 88,897.70	+0.7% (YTD: +110.4%)

THE CLOSING BELL-

The EGX30 fell 0.5% at yesterday’s close on turnover of EGP 3.9 bn (8.2% below the 90-day average). International investors were the sole net buyers. The index is up 26.3% YTD.

In the green: Mopco (+2.1%), Alexandria Containers and Cargo Handling (+1.3%), and CIB (+0.6%).

In the red: Oriental Weavers (-2.6%), Heliopolis Housing (-2.4%), and Emaar Misr (-2.3%).

CORPORATE ACTIONS-

Eipico shareholders will vote on the company’s planned capital increase at an extraordinary general assembly on 14 December, according to an EGX disclosure (pdf ). Eipico’s board voted last week to increase the company’s capital to EGP 6 bn from EGP 1.5 bn and its issued and paid-up capital by EGP 200 mn to around EGP 1.7 bn, distributed over 20 mn shares at a fair value of EGP 50 per share.

My Morning Routine: Emma Benany, founder and managing director of Cairow Water Sports

Emma Benany, founder and managing Director, Cairow Water Sports: Each week, My Morning Routine looks at how a successful member of the community starts their day — and then throws in a couple of random business questions just for fun. Speaking to us this week is founder and managing director of Cairow Water Sports, Emma Benany. Edited excerpts from our conversation:

My name is Emma Benany. I am the founder and managing director of Cairow Water Sports, a hub for rowing, kayaking, windsurfing, and almost anything that you can do on the Nile. I’m also a coach and an athlete — I’ve been rowing for 16 years, I coached the national team for three years, I’ve won medals in the world championship, and I work with World Rowing. Basically, I do everything under the umbrella of rowing.

It’s unusual to make sports, especially rowing, your career in Egypt: I started out as a teacher, but six years ago transitioned to a career in rowing. In addition to Cairow, I also work as head coach for the Egyptian national rowing team and with World Rowing. It’s a busy schedule, but it’s also a lot of fun.

After I left my teaching career and retired as a professional athlete, I slowly began developing the academy. Starting in 2009, we moved into the Greek Rowing Club and started renovating, planning sessions, and developing a curriculum. I didn’t want it to just be a place where people could do sports, but to be a rowing hub and a center to grow rowing culture in Egypt. We started out with a very small group, but today have more than 2k people coming in each month.

The problem Cairow addresses is the city’s lack of river access. With watersports, there are certain criteria for training and competing — not just personal criteria like age, but also in terms of access to a river. I was inspired by rowing’s potential in Egypt because it was unrecognized and underdeveloped.

So far, I believe we have hugely improved the perception of rowing in parts of Cairo. We have also ventured into sports tourism, with Cairow organizing trips in Aswan, Luxor, and other cities. We also have taken part in organizing events and championships. Our aim is to build a strong community in and outside of Cairo that revolves around the love of sports and the mentality of wellbeing in general.

Import restrictions, logistical issues, and lack of manufacturing know-how has caused a shortage of rowing boats and equipment in Egypt. Rowing boats cost us about EGP 400k apiece and are very fragile. We’re currently prioritizing manufacturing at Cairow to tackle this issue. We’re also working to develop boat blueprints and figure out new materials based on local supply availability to begin manufacturing them locally. We are constantly thinking about how we can reduce boat costs and make them more available within not just Cairow, but at other clubs and throughout the country — and even the region.

The biggest trend in the rowing and sports industry right now is people’s focus on wellbeing: I think more people are enjoying group sports and being out in nature, where you can connect with people and the environment at the same time. I see so many people that are doing it with a lot of mindfulness — and I think more people are focusing on not just being active, but being present while doing so. Rowing’s repetitive movements and being in sync with nature helps to put you in a sort of trance that has a lot of mental benefits.

The one constant in my day is waking up early. I’m usually up by 5-6 am every morning. When I was an athlete I would wake up even earlier, sometimes at 4 am. We have a flexible schedule at Cairow, with our sessions starting early in the morning and running until 11 am and then again in the afternoon until late in the evening — but I like to use the mornings to train. I wake up, have my coffee, and then walk, run, or take my scooter to the club, which is half an hour away from where I live. I then either train or join one of the sessions. It’s very nice for me to be working and moving at the same time — I’ll be doing squats and having meetings with people at the same time.

I leave Cairow around 12 pm, maybe carrying on with meetings or working on my laptop, but keeping my life mobile even if I’m working. I’m after a lifestyle, not a certain career. For me the recipe to being stable, happy, and fulfilled is to give priority to both your career and life. I like to make space for my hobbies throughout my day, like playing squash, being active, and keeping up with my social life.

I stay focused by setting long-term goals. I am not a person that ever functioned with a to-do list. I don’t write things down, but rather focus on my long-term goals and then take small steps towards them. I usually go through the smaller tasks I have every day like making a phone call, or replying to emails — things that are anxiety-inducing and cloud your brain, but only take two to three minutes to finish. Once those are finished, I take small steps towards my month, three-month, and yearly goals.

On a professional level, I have two big things coming up: I’ll start coaching the British national rowing team, and I’ll start working with British Rowing to develop their curriculum. I am excited to see how other teams function. As for Cairow, I am looking to branch more into events management and sports tourism. We have already helped organize events in the Red Sea, El Alamein, and elsewhere. I’m also looking to develop boat manufacturing.

I used to be very bad at work-life balance: At the start, Cairow was very hectic, and I was failing miserably at maintaining work-life balance. It was work, work, work, everyday. Having ownership over something takes up all your time and tends to eat you up. I was working every day, and even when I was out with friends, I was talking about work, asking their opinion on things, or showing them work related-stuff — and that just kind of drove me to burnout. After two years, I couldn’t do it anymore. So, I went on a break for two months straight.

My view on work-life balance has changed. I don’t think about how much I work anymore — my main priority is enjoying my life, and that includes my work. I believe that work is important, but that you work hard for a period of time so you can enjoy your life after. I can enjoy my cup of coffee or going out with my friends without constantly being stressed.

I switch off by setting clear boundaries: I don’t mind having to apologize to someone for replying to a text or phone call late, but my priority is always setting clear boundaries and being present with whatever task I am doing at the time. Being available all the time does not reflect if I’m good at my job or not, managing my time does.

The best advice I ever received is to be present in your life and to find your sense of purpose. It’s important to have a reason to wake up every day and to develop social connections with people around you. Being successful is a byproduct of being happy and present in your life, so you must find your equilibrium.

CALENDAR

2024

NOVEMBER

12-15 November (Tuesday-Friday): Arab African Investment and International Cooperation Summit, Aswan, Egypt.

17 November (Sunday): The House of Representatives reconvenes.

17-19 November (Sunday-Tuesday): Autotech Exhibition for Automotive Aftermarket & Feeder Industries, Cairo, Egypt.

21 November (Thursday): Central Bank of Egypt’s Monetary Policy Committee meeting.

25-27 November (Monday-Wednesday): Annual Digital Nation Conference, Cairo, Egypt.

26-28 November (Tuesday-Thursday): Egypt Energy Show, Cairo, Egypt.

28-30 November (Thursday-Wednesday): Cairo International Wood and Wood Machinery Show, Cairo, Egypt

29 November (Friday): Egypt and Italy to launch a ro-ro shipping line connecting Damietta Port with Italy’s Port of Trieste.

30 November (Saturday): Deadline to apply for renewable energy projects under the peer-to-peer (P2P) system.

DECEMBER

16-17 December (Monday-Tuesday): Mining World Conference 2024, London, UK.

26 December (Thursday): Central Bank of Egypt’s Monetary Policy Committee meeting.

EVENTS WITH NO SET DATE

2H 2024: Gov’t to launch the Cairo Ring Road BRT buses.

3Q 2024: Egyptian-Armenian Joint Committee.

First week of November: Egypt-Turkey high-level trade consultation mechanism.

November 2024: Egypt to host the World Urban Forum (WUF12).

End of 2024: The launch of the high-speed train line linking Ain Sokhna with Al Alamein City.

2025

28 January (Tuesday): Nigeria to inaugurate the USD 5 bn Africa Energy Bank in Abuja.

7-10 April 2025 (Monday-Thursday) : EFG Hermes One on One conference, Dubai, UAE.

May 2025: Egyptian Exporters Association (Expolink) exhibition, Italy.

July 2025: The first operational trail of Egypt-KSA electricity interconnection line.

March 2025: Operation of phase one of the Amotope wind farm

EVENTS WITH NO SET DATE

2025: The InterAcademy Partnership assembly.

2025: Nile Basin States Summit, Cairo, Egypt.

2Q 2025: Safaga Terminal 2 to start operations.

Mid-2025: The Administrative Capital for Urban Developments to roll out the second phase of offering industrial plots to investors.

2027

20 January-7 February: Egypt to host the African Games

EVENTS WITH NO SET DATE

End of 2027: Trial operations at the Dabaa nuclear power plant expected to take place.

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