{"id":544263,"date":"2022-02-22T13:53:25","date_gmt":"2022-02-22T13:53:25","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=544263"},"modified":"2025-12-15T20:36:09","modified_gmt":"2025-12-15T20:36:09","slug":"the-drums-of-war","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/the-drums-of-war\/","title":{"rendered":"The drums of war"},"content":{"rendered":"<section id=\"544265\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"544265\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">WHAT WE\u2019RE TRACKING TONIGHT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/this-evening-planning-ministry-upgrades-growth-forecast-to-6-2-6-5-world-braces-itself-as-russia-and-ukraine-tensions-mount-with-troops-on-the-move\/\">\r\n                            THIS EVENING: Planning Ministry upgrades growth forecast to 6.2-6.5% + World braces itself as Russia and Ukraine tensions mount with troops on the move                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/this-evening-planning-ministry-upgrades-growth-forecast-to-6-2-6-5-world-braces-itself-as-russia-and-ukraine-tensions-mount-with-troops-on-the-move\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/this-evening-planning-ministry-upgrades-growth-forecast-to-6-2-6-5-world-braces-itself-as-russia-and-ukraine-tensions-mount-with-troops-on-the-move\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/this-evening-planning-ministry-upgrades-growth-forecast-to-6-2-6-5-world-braces-itself-as-russia-and-ukraine-tensions-mount-with-troops-on-the-move\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=THIS EVENING: Planning Ministry upgrades growth forecast to 6.2-6.5% + World braces itself as Russia and Ukraine tensions mount with troops on the move&url=https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/this-evening-planning-ministry-upgrades-growth-forecast-to-6-2-6-5-world-braces-itself-as-russia-and-ukraine-tensions-mount-with-troops-on-the-move\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/this-evening-planning-ministry-upgrades-growth-forecast-to-6-2-6-5-world-braces-itself-as-russia-and-ukraine-tensions-mount-with-troops-on-the-move\/&title=THIS EVENING: Planning Ministry upgrades growth forecast to 6.2-6.5% + World braces itself as Russia and Ukraine tensions mount with troops on the move\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=THIS+EVENING%3A+Planning+Ministry+upgrades+growth+forecast+to+6.2-6.5%25+%2B+World+braces+itself+as+Russia+and+Ukraine+tensions+mount+with+troops+on+the+move+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F02%2F22%2Fthis-evening-planning-ministry-upgrades-growth-forecast-to-6-2-6-5-world-braces-itself-as-russia-and-ukraine-tensions-mount-with-troops-on-the-move%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/this-evening-planning-ministry-upgrades-growth-forecast-to-6-2-6-5-world-braces-itself-as-russia-and-ukraine-tensions-mount-with-troops-on-the-move\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544265\" class=\"content-area-description single-story post-544265 post type-post status-publish format-standard hentry category-what-were-tracking-tonight tag-abdel-fattah-el-sisi tag-agritech tag-diplomacy tag-enterprisepm tag-europe tag-kuwait tag-nordstream-2 tag-russia tag-russia-sanctions tag-ukraine tag-visual-and-ai-solutions tag-what-were-tracking-tonight wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It\u2019s hump day, ladies and gentlemen, but it\u2019s far from news dump day on the local front<\/strong> as all eyes are fixed firmly abroad on the developing situation between Ukraine and Russia. We have chapter and verse on all the latest, below, but first\u2026<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>THE BIG STORY TODAY- <\/strong><\/p>\n<p><strong>#1- Planning Ministry upgrades growth forecast:<\/strong> Egypt\u2019s GDP is expected to grow between 6.2% and 6.5% in FY2021-2022, Planning Minister <a href=\"https:\/\/www.facebook.com\/MPEDEGYPT\/posts\/492267008929807\">Hala El Said said today<\/a>. The new forecast is an upgrade from El Said\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b071df06-4687-4696-8505-338934514f9a\">most recent expectation<\/a> that our economy would grow at a 5.6% clip this fiscal year. This comes after Prime Minister Moustafa Madbouly <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4d62e3f0-9d66-4bf5-8447-110e1540903c\">announced earlier this month<\/a> that our 2Q2021-2022 growth came in at 8.3%, marking a significant increase from previous expectations.<\/p>\n<p><strong>#2-<\/strong> <strong>House signs off on several pieces of legislation:<\/strong> The House of Representatives\u2019 general assembly gave its final approval today to the <a href=\"https:\/\/alborsaanews.com\/2022\/02\/22\/1511825\">\u201cold rent\u201d law<\/a>, amendments to the <a href=\"https:\/\/alborsaanews.com\/2022\/02\/22\/1511818\">Real Estate Registry Act<\/a>, and amendments to the <a href=\"https:\/\/alborsaanews.com\/2022\/02\/22\/1511784\">Capital Markets Act<\/a>.<\/p>\n<p><strong>^^We\u2019ll have more <\/strong>on this story and other stories in tomorrow\u2019s <strong>EnterpriseAM<\/strong>.<\/p>\n<p><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM<\/strong>:<\/p>\n<ul>\n<li><strong>Elevate PE to establish cancer treatment facility in Cairo:<\/strong> <a href=\"https:\/\/www.linkedin.com\/company\/elevate-private-equity\/\">Elevate Private Equity<\/a>is investing at least EGP 500 mn to establish a dedicated cancer treatment facility in Egypt, a company spokesperson <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9c3beba5-afcc-4b38-ba48-947656cc4e70\">told Enterprise yesterday<\/a>. This came on the same day that Elevate <a href=\"https:\/\/ent.news\/2022\/2\/PR_2022_Feb_20_Elevate_PE_signs_MOU_with_Gustave-Roussy.pdf\">announced (pdf)<\/a> the signing of an MoU with the France-based <a href=\"https:\/\/www.gustaveroussy.fr\/en\">Gustave Roussy Institute<\/a>, one of Europe\u2019s leading cancer hospitals, to collaborate on the facility.<\/li>\n<li><strong>Egypt, US launch climate working group ahead of COP27:<\/strong> Foreign Minister Sameh Shoukry and US Presidential Climate Envoy John Kerry <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6b641e4f-7760-4a09-9888-93baaba809f6\">met for the inaugural session<\/a> of a working group that will set priorities for COP27 in Sharm El Sheikh this November, according to a Foreign Ministry <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/263366855973168\">statement<\/a>.<\/li>\n<li><strong>Schneider eyes EUR 500-600 mn contract for 10 control centers:<\/strong> Schneider Electric Systems <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/da3a3105-19ae-4091-9cdd-5a45e24c084f\">is in talks<\/a> with the Electricity Ministry for the contract to build 10 energy control centers, which are expected to cost EUR 500-600 mn.<\/li>\n<\/ul>\n<hr class=\"grey-line\">\n<p><strong>HAPPENING NOW-<\/strong><\/p>\n<p><strong>El Sisi talks regional tensions + security with Kuwait\u2019s emir, crown prince:<\/strong> President Abdel Fattah El Sisi discussed increasing economic and political cooperation with Kuwait in two separate meetings in Kuwait with <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/510713277084072\">Emir Sheikh Nawaf Al Ahmed Al Jaber Al Sabah<\/a> and <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/510698890418844\">Crown Prince Mishal Al Ahmad Al Jaber Al Sabah<\/a>, Ittihadiya said. The president discussed with the emir and crown prince a handful of regional political and security developments, according to the Ittihadiya readouts.<\/p>\n<hr class=\"grey-line\">\n<p><strong>THE BIG STORY ABROAD- <\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>The unfolding events in Ukraine is all anyone can talk about <\/strong><strong>today<\/strong> as the world responds to Russia\u2019s decision to move \u201cpeacekeeping\u201d troops into separatist-held areas in the east of the country and formally recognize them as independent territories.<\/p>\n<p><strong>Nordstream 2 is all but dead:<\/strong> German Chancellor Olaf Scholz has <a href=\"https:\/\/www.dw.com\/en\/ukraine-crisis-germany-halts-nord-stream-2-approval\/a-60867443\">suspended the approval<\/a><a href=\"https:\/\/www.dw.com\/en\/ukraine-crisis-germany-halts-nord-stream-2-approval\/a-60867443\">process<\/a> for the controversial Nordsteam 2 pipeline that would have shipped Russian natural gas directly to Germany.<\/p>\n<p><strong>But European nations are divided on sanctions: <\/strong>Diplomatic sources tell <a href=\"https:\/\/www.theguardian.com\/world\/2022\/feb\/22\/west-struggles-to-maintain-unity-in-face-of-russia-ukraine-crisis-eu-debate\">the Guardian<\/a> that there are \u201cworrying signals\u201d that countries are not on the same page as governments decide on how to respond to the incursion. One diplomat said that Austria, Germany and Italy are favoring an incremental approach, while others want to immediately hit Moscow where it hurts.<\/p>\n<p><strong>The UK\u2019s sanctions response hasn\u2019t yet lived up to the \u201cbarrage\u201d promised by PM Boris <\/strong><strong>Johnson:<\/strong> In an address to parliament an hour before dispatch, the prime minister announced that the government would place sanctions on five, minor Russian banks and three oligarchs with close ties to the Kremlin who were already under US sanctions.<\/p>\n<p><strong>We\u2019re still waiting for the response from Washington:<\/strong> After initial sanctions were imposed on the separatist administrations in the early hours of this morning, the US is yet to reveal how they plan to sanction Russia itself. Expect a response later today, <a href=\"https:\/\/www.reuters.com\/world\/us-announce-sanctions-against-russia-tuesday-coordination-with-allies-2022-02-22\/\">Reuters<\/a> reports.<\/p>\n<p><strong>European banks are bracing for impact:<\/strong> European banks are preparing for blowback ahead of potentially severe financial sanctions placed on Russian financial institutions, according to <a href=\"https:\/\/www.reuters.com\/business\/finance\/contagion-sanctions-europes-banks-brace-russia-fallout-2022-02-22\/\">Reuters<\/a>. Banks on the continent are highly exposed to Russia, particularly those in Austria, France and Italy. The share price of Austrian bank RBI suffered heavy losses today as the bank said it was readying \u201ccrisis plans\u201d ahead of sanctions.<\/p>\n<p><strong>The key question right now:<\/strong> Whether Russia recognises territory <strong>held<\/strong> by the separatists or territory <strong>claimed<\/strong> by the separatists is crucial. Currently, the self-proclaimed republics only hold parts of the Donetsk and Luhansk provinces, potentially setting us up for a Russian invasion of Ukraine-held territory should Moscow recognize lands outside of these borders.<\/p>\n<p><strong>The oil market reacted exactly as you\u2019d expect<\/strong>, surging closer to the USD 100 per barrel mark in early trading. The price of Brent has since pared gains and was up 1.7% to USD 94.60 a barrel shortly before dispatch.<\/p>\n<p><strong>European stocks are recovering from the initial shock:<\/strong> After suffering losses early in the session, shares in Europe are now slightly in the green. On the other side of the Atlantic, Wall Street is expected to open slightly lower. The S&P 500 is currently down 9.3% YTD and further losses today would put it in danger of falling into correction territory.<\/p>\n<p><strong>A dead cat bounce?<\/strong> The head of HSBC warned today of the threat of \u201cwider contagion\u201d for global financial markets should the situation continue to deteriorate. \"It's clear that there is a likelihood of contagion or some second-order effect, but it will depend on the severity of the conflict and the severity of the retaliation if there is a conflict,\" Noel Quinn told Reuters.<\/p>\n<p><strong>Stay up-to-date here:<\/strong> <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-02-22\/west-pushes-on-russia-sanctions-after-putin-move-ukraine-update?srnd=premium-africa&sref=mmeFTDW1\">Bloomberg<\/a> | <a href=\"https:\/\/www.ft.com\/content\/b787a27f-78f4-411e-9435-bb9e980c2a7f\">FT<\/a> | <a href=\"https:\/\/www.bbc.com\/news\/live\/world-europe-60454795\">BBC<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/world\/2022\/02\/22\/russia-ukraine-updates\/\">Washington Post<\/a>.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>FOR TOMORROW-<\/strong><\/p>\n<p><strong>Two Egyptian startups will pitch their businesses to leading tech investors at the pan-African <\/strong><strong><a href=\"https:\/\/www.africatechsummit.com\/nairobi\/\">Africa Tech Summit<\/a><\/strong><strong> in Nairobi<\/strong>, which kicks off tomorrow. Blockchain-based communications platform <a href=\"https:\/\/pravica.io\/\">Pravica<\/a> and agritech startup <a href=\"https:\/\/vais.ai\/\">Visual and AI Solutions<\/a> (VAIS) are among the nine startups that have been selected for the two-day event, which will bring together African startups, VC and private equity investors, lenders, and global tech leaders.<\/p>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>A call for tech startups: <\/strong>The Information Technology Industry Development Agency (ITIDA) and US-based VC firm <a href=\"https:\/\/www.plugandplaytechcenter.com\/\">Plug and Play<\/a> have <a href=\"https:\/\/itida.gov.eg\/English\/PressReleases\/Pages\/ITIDA-and-Plug-and-Play-Join-Hands-with-USAID%E2%80%99s-Economic-Governance-Activity-(EGA)-to-Launch-Open-Innovation-Platformin-.aspx\">launched<\/a> an incubator and accelerator program for digital transformation-focused startups in partnership with our friends at USAID. The newly launched \u201cSmart Cities\u201d innovation hub will select 20-30 Egypt-based companies for its inaugural three-month program, which starts in March. Startups can apply <a href=\"https:\/\/www.plugandplaytechcenter.com\/cairo\/#apply\">here<\/a> before applications close on 28 February.<\/p>\n<p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- <\/strong>A bout of warm weather: The mercury will rise to a daytime high of 25\u00b0C tomorrow, marking the warmest day these past few weeks, our favorite weather app indicates. The temperature will fall to 11\u00b0C at night ahead of a cold front on Thursday and Friday.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/agritech\/\">Agritech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/europe\/\">Europe<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kuwait\/\">Kuwait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nordstream-2\/\">Nordstream 2<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia-sanctions\/\">Russia sanctions<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ukraine\/\">Ukraine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/visual-and-ai-solutions\/\">Visual and AI Solutions<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-tonight\/\">WHAT WE\u2019RE TRACKING TONIGHT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544266\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" 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<\/a>\r\n                    <span>Rise every day<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-hbaj59j\" data-v=\"4\" data-block-id=\"hbaj59j\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-hbaj59j-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-hbaj59j-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240928.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.beltoneholding.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27484.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Where disruption meets success<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-dwu9otb\" data-v=\"4\" data-block-id=\"dwu9otb\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-dwu9otb-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-dwu9otb-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240936.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/cira.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27480.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Shaping the future of education in Egypt<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544267\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"544267\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">FOR YOUR COMMUTE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/rich-nations-are-not-reaching-pledge-targets-in-terms-of-pandemic-aid\/\">\r\n                            Rich nations are not reaching pledge targets in terms of pandemic aid                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img 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 <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/rich-nations-are-not-reaching-pledge-targets-in-terms-of-pandemic-aid\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/532.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"544268\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/rich-nations-are-not-reaching-pledge-targets-in-terms-of-pandemic-aid\/532-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/532.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"532.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/532.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/532.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544267\" class=\"content-area-description single-story post-544267 post type-post status-publish format-standard has-post-thumbnail hentry category-for-your-commute tag-abdel-fattah-el-sisi tag-africa tag-climate-change tag-cop27 tag-enterprisepm tag-for-your-commute tag-g20 tag-ghana tag-green-bonds tag-green-economy tag-green-exchange tag-imf wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>G20 countries fell short of their USD 100 b<\/strong><strong>n <\/strong><strong>pandemic aid pledge to <\/strong><strong>develop<\/strong><strong>ing<\/strong><strong> countries:<\/strong> The world\u2019s most advanced economies agreed last week to provide a combined USD 60 bn to developing countries struggling under the financial fallout of the pandemic, marking a significant reduction from their original USD 100 bn pledge, the <a href=\"https:\/\/www.ft.com\/content\/273442e0-b6fc-453f-8c73-46526d751f22\">Financial Times<\/a> reports. This is also less than a quarter of the USD 290 bn given to members of the G7 group of advanced economies last year by the IMF as special drawing rights (SDRs), the FT notes. The US and China made the biggest pledges, agreeing to shell out USD 21 bn and USD 14 bn, respectively, after the meeting of G20 finance ministers and central bank governors in Jakarta ended last week.<\/p>\n<p><strong>And they\u2019ve turned the tables on the IMF:<\/strong> The G20 <a href=\"https:\/\/home.treasury.gov\/news\/press-releases\/jy0601\">said<\/a> it would continue to work towards the USD 100 bn target, and called on the IMF to set up the Resilience and Sustainability Trust before the IMF and World Bank spring meetings in April. The trust would provide developing countries with loans \u2014 at low or zero interest rates \u2014 but are still considered unfavorable by debt-heavy emerging economies that would benefit more from the no-strings-attached kind of aid that comes through SDRs and the G20\u2019s pledges.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/africa\/\">Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/for-your-commute\/\">FOR YOUR COMMUTE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/g20\/\">G20<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ghana\/\">Ghana<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-bonds\/\">green bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-economy\/\">Green Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-exchange\/\">Green Exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544269\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"544269\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">ENTERPRISE RECOMMENDS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/the-godfather-returns-to-cinemas-with-a-re-release-exploring-financial-inequality-through-the-lens-of-a-young-working-class-girl\/\">\r\n                            The Godfather returns to cinemas with a re-release + Exploring financial inequality through the lens of a young working-class girl                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/the-godfather-returns-to-cinemas-with-a-re-release-exploring-financial-inequality-through-the-lens-of-a-young-working-class-girl\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The re-release will only include the first film in the trilogy on the Corleone family (which is, in any true cinephile\u2019s opinion, the best of the three). The movie will land tomorrow at Vox cinemas across Egypt. Watch the restored trailer here (<a href=\"https:\/\/www.youtube.com\/watch?v=F98_Y2DKxso\">watch, runtime: 2:02<\/a>).<\/p>\n<p>\u26bd <strong>The night of the Champions in Europe:<\/strong> The UEFA Champions League will kick off its first leg of round 16 today, with Chelsea clashing with LOSC Lille, and Villarreal going up against Juventus, both at 10pm.<\/p>\n<p><strong>In the Egyptian Premier League<\/strong>, Al Ahly will play against Misr Lel Makkasa at 8pm, where the red devils hope to emerge on top to rank first in the table. Enppi v Al Ittihad will kick off at 5:30pm, while the 3pm clash between Ceramica Cleopatra and Ghazl El Mahalla is waiting for the whistle to blow on its first half as we dispatch this issue.<\/p>\n<p><strong>\u2615 EAT THIS TONIGHT- <\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Go for coziness and comfort as the weather gets more outdoor-friendly at cafe<\/strong><strong> and eatery <\/strong><strong><a href=\"https:\/\/www.instagram.com\/bittersweet.eg\/?hl=en\">Bittersweet<\/a><\/strong> in Arkan Sheikh Zayed\u2019s new extension, which is home to many of our favorites. The bright red-colored cafe, with a cherry blossom tree in the middle of its indoor area promises a cozy vibe, even if you only settle down for coffee and a book. The menu is simple yet diverse, ranging from breakfast savories, including make your own croissant, to homemade salads, pastas and sandwiches and refreshing juices and freshly made coffee. We\u2019re pretty old school, so we recommend their class margherita pizza, topped with fresh buffalo mozzarella and basil leaves. Don\u2019t miss their Quatro Leches Cake, for some milk goodness or their Gorilla Tiramisu, which uses its single soil origin Gorilla coffee.<\/p>\n<p>? <strong>OUT AND ABOUT-<\/strong><\/p>\n<p>(all times CLT)<\/p>\n<p><strong>Alternative singer\/songwriter Aya Metwalli and shaabi musician Maurice Louca are<\/strong><strong> performing at <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/686198165845800\/\">Cairo Jazz Club\u2019s Alt Tuesday Night<\/a><\/strong> in Agouza at 9pm tonight. Reservations are required.<\/p>\n<p><strong>On the opposite end of the musical spectrum, Cairo Opera House is hosting a <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/974285093293973\/\">harp, flute,<\/a><\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/974285093293973\/\">and strings<\/a><\/strong><strong> ensemble<\/strong> led by Manal Mohei Eldin at 8pm.<\/p>\n<p><strong>? UNDER THE LAMPLIGHT-<\/strong><\/p>\n<p><strong>Exploring power dynamics and financial inequality through the lens of a young<\/strong><strong> working-class girl\u2019s relationship with an older financier<\/strong>, <a href=\"https:\/\/www.goodreads.com\/en\/book\/show\/57771192-a-very-nice-girl\">\u201cA Very Nice Girl\u201d<\/a>by Imogen Crimp follows the story of 24-year-old Anna, who dreams of being an opera singer. While working at a jazz club, Anna meets Max, a man several years her senior who is not yet divorced. Anna is seduced and falls in love, despite Max stressing that their whole relationship is based on \u201conly fun,\u201d even as he convinces her to abandon her studies altogether to spend time with him. Because of the relationship, Anna starts to lose herself and her once-strong love for art. Crimp\u2019s debut novel highlights the complexity of being a vulnerable young woman in a new city trying to find your identity while falling into complicated toxic relationships that you know you should avoid.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-recommends\/\">Enterprise Recommends<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544271\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"544271\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">GO WITH THE FLOW<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/meet-our-analyst-of-the-week-al-ahly-pharos-omar-el-watan\/\">\r\n                            Meet our analyst of the week: Al Ahly Pharos\u2019 Omar El Watan                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/meet-our-analyst-of-the-week-al-ahly-pharos-omar-el-watan\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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I graduated from Telfer School of Management at the University of Ottawa and I thought I would continue to live in Canada, but I eventually came back because \u2018Om El Donia ghalya 3alaya\u2019 [laughs].<\/p>\n<p><strong>Investment banking gives you new exposure every time you get a new mandate<\/strong>, which makes the job very interesting and full of things to learn and explore. It requires a keen eye for analysis and the linguistic ability to tie the narratives to the numbers. Investment banking is also a people\u2019s job in that you have to get up close and personal with shareholders and management and try to have a good relationship with them. It\u2019s a bit of everything and there really is nothing like it.<\/p>\n<p><strong>The worst part of my job is working on a transaction for so long and then just having it fall apart. <\/strong>Sometimes it\u2019s due to the macroeconomic climate, other times the shareholders and new investors don\u2019t see eye to eye \u2014 so oftentimes it\u2019s something completely out of your control and you have to pick yourself up, dust yourself off, and start all over again.<\/p>\n<p><strong>The trend in the investment banking industry this year is to invest in defensive sectors.<\/strong> We\u2019re seeing a lot of investments in F&B, healthcare, and education. Non-banking financial services are also getting a lot of attention, as well as any company that is linked to commodities.<\/p>\n<p><strong>I don\u2019t see investors being more bullish on Egypt in the immediate future. <\/strong>Economically, we\u2019re doing just fine, but there are still factors keeping the market bearish such as global risks, conflicts abroad, and the interest rate environment.<\/p>\n<p><strong>A sector I think is a <\/strong><strong>gem <\/strong><strong>is e-commerce. <\/strong>Anything that uses tech to enable individuals and simplify processes is the future. The VC culture is all over this because it\u2019s high risk, high reward. Egypt in general has a lot of potential in this area. We skipped the industrial era, but we\u2019re all over the internet era. Companies and legacy firms need to understand the importance of tech and incorporate it into their thinking. I think if this happens, it will be an inflection point for the country where we can only go up from here. However, I don\u2019t see this happening in the next two years.<\/p>\n<p><strong>There are three important factors I look at before I decide on an investment. <\/strong>The first is competitive edge: Having something that differentiates the company and can\u2019t easily be replicated. The second is competent management with a good corporate governance structure. Finally, a company has to have high growth potential in terms of the industry it works in.<\/p>\n<p><strong>My theory of investment is to search for high risk, high return investments\u2026 with good fundamentals. <\/strong>Maybe it\u2019s because I\u2019m young [laughs]. I think private investment is a really good way to go as it\u2019s extremely beneficial not just monetarily, but also impact-wise. At the same time, you should have a traditional investment such as real estate to fall back on.<\/p>\n<p><strong>The last great thing I watched was a documentary by Al Jazeera Investigations called <\/strong><strong><a href=\"https:\/\/www.youtube.com\/watch?v=ldgTCXpDEgk\">The Men Who Sell Football<\/a><\/strong><strong>. <\/strong>It had a really interesting part that looked at how FIFA rigged the game in Africa. I highly recommend it.<\/p>\n<p><strong>I\u2019m currently reading <\/strong><strong><a href=\"https:\/\/www.goodreads.com\/book\/show\/30659.Meditations\">Meditations<\/a><\/strong><strong> by Marcus Aurelius, the Roman Emperor during 161\u2013180 CE. <\/strong>It talks about Stoic philosophy and it teaches a different mindset and how to look at things when they\u2019re out of your control.<\/p>\n<p><strong>In my downtime I like to play padel tennis or try new places to eat. <\/strong>I\u2019m just a typical \u2018shab\u2019 [laughs]. I also try to stay active as much as possible. This is all when I do have the luxury of time, of course [laughs].<\/p>\n<hr class=\"grey-line\">\n<p><strong>MARKET ROUNDUP-<\/strong><\/p>\n<p><strong>The EGX30 fell 1.7% at today\u2019s close<\/strong> on turnover of EGP 837 mn (18% below the 90-day average). Local investors were net buyers. The index is down 5.4% YTD.<\/p>\n<p><strong>In the green: <\/strong>Eastern Company (+1.4%), Qalaa Holdings (+0.9%) and EFG Hermes (+0.5%).<\/p>\n<p><strong>In the red: <\/strong>Cleopatra Hospital (-4.4%), Ibnsina Pharma (-4.2%) and CIRA (-4.2%).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/al-ahly-pharos\/\">Al Ahly Pharos<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/go-with-the-flow\/\">Go with the Flow<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/omar-el-watan\/\">Omar El Watan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544273\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/544273\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544273\" class=\"content-area-description single-story post-544273 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>1Q2022: <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9cd1fc44-1593-4317-8658-0aa792215521\">Launch of the Egyptian Commodities Exchange<\/a>.<\/p>\n<p>1Q2022: Swvl acquisition of Viapool expected to close.<\/p>\n<p>1Q2022: Waste collection startup Bekia plans to expand to the UAE and Saudi Arabia.<\/p>\n<p>1Q2022: Rameda Pharma will begin selling its generic version of Merck\u2019s oral antiviral covid-19 med.<\/p>\n<p>1Q2022: Pharos Energy\u2019s sale of a 55% stake in El Fayum, Beni Suef concessions to IPR Energy Group subsidiary IPR Lake Qarun expected to close.<\/p>\n<p>Early 2022: Results <a href=\"https:\/\/www.elwatannews.com\/news\/details\/5876314\">to be announced<\/a> for the second round of the state\u2019s gold and precious metals auction.<\/p>\n<p>1H2022: Target date for IDH to close its acquisition of 50% of Islamabad Diagnostic Center.<\/p>\n<p>1H2022: e-Finance\u2019s digital healthcare service platform, eHealth, will launch its services.<\/p>\n<p>1H2022: The government will respond to private companies\u2019 bids to build desalination plants.<\/p>\n<p>1H2022: Egypt\u2019s second corporate green bond issuance expected to be announced.<\/p>\n<p>1H2022: The Transport Ministry <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/334230905414003\">to sign<\/a> a memorandum of understanding with <a href=\"https:\/\/www.adports.ae\/\">Abu Dhabi Ports<\/a> to set up a transport route across the Nile to transport products from Al Canal\u2019s Minya<a href=\"https:\/\/enterprise.press\/stories\/2018\/01\/23\/uaes-al-ghurair-to-invest-usd-1-bn-in-sugar-agriculture-project\/\">sugar factory<\/a>.<\/p>\n<p>January-February 2022: Construction work on the Abu Qir metro upgrade <a href=\"https:\/\/www.youtube.com\/watch?v=vXBilirlgw0\">will begin<\/a>.<\/p>\n<p>February: Hassan Allam Construction\u2019s <a href=\"https:\/\/alborsaanews.com\/2021\/12\/07\/1488592\">new construction firm<\/a> established with Russia\u2019s Titan-2 to handle construction work on the Dabaa nuclear power plant begins its operations.<\/p>\n<p>Mid-February: End of grace period to comply with new minimum wage for firms who sent in exemption requests.<\/p>\n<p>Mid-February: A Hungarian delegation will arrive in Egypt for talks over a potential investment in an industrial area in the SCZone.<\/p>\n<p>22 February (Tuesday): The Egyptian National Railway is holding a forum to gauge public interest in its plans to delegate the management and operations of freight transport to the private sector.<\/p>\n<p>22-24 February (Tuesday-Thursday): <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/332874495549644\">Investment Forum<\/a>, General Authority For Investments (GAFI) Main Office, Nasr City.<\/p>\n<p>26 February (Saturday): Speed Medical will elect a new board during <a href=\"https:\/\/ent.news\/2022\/1\/Speed-Medical-statement_190122.pdf\">ordinary general assembly (pdf)<\/a>.<\/p>\n<p>27 February (Sunday): British-Egyptian Business Association (BEBA) green finance event with Finance Minister Mohamed Maait, Semiramis Intercontinental, Cairo<\/p>\n<p>28 February (Monday): Applications close for the <a href=\"https:\/\/www.plugandplaytechcenter.com\/cairo\/#apply\">incubator and accelerator program<\/a> run by Information Technology Industry Development Agency (ITIDA), US-based VC firm Plug and Play, and USAID.<\/p>\n<p>28 February (Monday): <a href=\"https:\/\/ent.news\/2022\/2\/Speed-Medical-statement-21-2-22.pdf\">Hearing at Cairo Economic Court (pdf)<\/a> on <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/107f1754-dca0-4654-92e9-fd680c3c9d71\">FRA lawsuits<\/a> filed against Speed Medical.<\/p>\n<p>28 February-1 March (Monday-Tuesday): <a href=\"https:\/\/futuredc.org\/\">The Future of Data Centers Summit<\/a>.<\/p>\n<p>End of February: Lebanon to receive gas from Egypt via a pipeline crossing Jordan and Syria.<\/p>\n<p>March: <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/304519788385115\">Rollout<\/a> of the government financial management information system (GFMIS), a suite of electronic tools to automate the government\u2019s financial management processes (<a href=\"https:\/\/ent.news\/2021\/7\/tnm1007.pdf\">pdf<\/a>) that will replace the existing \u201cclosed\u201d financial management system.<\/p>\n<p>March: 4Q2021 earnings season.<\/p>\n<p>March: Deadline for the World Health Organization\u2019s <a href=\"https:\/\/www.who.int\/news\/item\/01-12-2021-world-health-assembly-agrees-to-launch-process-to-develop-historic-global-accord-on-pandemic-prevention-preparedness-and-response\">intergovernmental negotiating body<\/a> to meet to discuss binding treaty on future pandemic cooperation.<\/p>\n<p>March: World Cup playoffs.<\/p>\n<p>March: The government hopes to sign a final contract between El Nasr Automotive and a new partner for the local production of electric cars.<\/p>\n<p>March: Target date for Saudi tech firm Brmaja to IPO on the EGX.<\/p>\n<p>March: Egypt to <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/318887153615045\">host World<\/a><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/318887153615045\">Tourism Organization Middle East committee meeting<\/a>.<\/p>\n<p>March: The Salam &ndash; new administrative capital &ndash; 10th of Ramadan Light Rail Train (LRT) line <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/327078179462609\">will start operating<\/a>.<\/p>\n<p>March: The new multi-purpose station at <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b705927d-ff68-4720-8bae-3b3dfde3705d\">Dekheila Port and the revamped Ain Sokhna Port<\/a> will start operating.<\/p>\n<p>March: General Authority for Land and Dry Ports <a href=\"https:\/\/bit.ly\/3IbQQKI\">to issue the condition booklets<\/a> for the operations of the Tenth of Ramadan dry port.<\/p>\n<p>3 March (Thursday): Fawry\u2019s<a href=\"https:\/\/ent.news\/2022\/2\/Fawry-extraordinary-general-assembly-capital-increase-3-March.pdf\">extraordinary general assembly (pdf)<\/a> to vote on EGP 800 mn capital increase.<\/p>\n<p>9-18 March (Wednesday-Friday): The 55th edition of the <a href=\"https:\/\/www.facebook.com\/mift.media\/posts\/291436426360972\">Cairo International Fair<\/a>.<\/p>\n<p>15-16 March (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>24 March (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>25 March (Friday): Egypt will host Senegal in the first leg of their 2022 FIFA World Cup qualifiers&#39; playoff (TBC).<\/p>\n<p>26 March (Saturday): Egypt-EU World Trade Organization dispute settlement consultations end.<\/p>\n<p>28-29 March (Monday-Tuesday): The Egypt International Mining Show (<a href=\"https:\/\/egypt-mining.com\/\">EIMS 2022<\/a>) will take place virtually.<\/p>\n<p>28 March (Monday): The second leg of the 2022 FIFA World Cup qualifiers&#39; playoff between Egypt and Senegal (TBC).<\/p>\n<p>31 March (Thursday): Deadline for submitting tax returns for individual taxpayers.<\/p>\n<p>31 March (Thursday): Vodacom purchase of Vodafone Group\u2019s stake in Vodafone Egypt expected to be completed by this date.<\/p>\n<p>31 March (Thursday): Supply Ministry expected to take final decision on bread subsidies by this date.<\/p>\n<p>April: Fuel pricing committee meets to decide quarterly fuel prices.<\/p>\n<p>April: Ghazl El Mahalla shares will begin trading on the EGX.<\/p>\n<p>2 April (Saturday): First day of Ramadan (TBC).<\/p>\n<p>3 April (Sunday): Bidding begins on the Industrial Development Authority\u2019s license to manufacture tobacco products.<\/p>\n<p>4 April (Monday): CDC Group will formally change its name to British International Investment.<\/p>\n<p>14 April (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>Mid-April: Trading on the <a href=\"https:\/\/alborsaanews.com\/2022\/02\/13\/1508190\">Egyptian Commodity Exchange to start<\/a>.<\/p>\n<p>22-24 April (Friday-Sunday): <a href=\"http:\/\/sdg.iisd.org\/events\/2022-spring-meetings-of-the-world-bank-group-and-the-international-monetary-fund\/\">World Bank-IMF spring meeting<\/a>, Washington D.C.<\/p>\n<p>24 April (Sunday): Coptic Easter Sunday (holiday for Coptic Christians).<\/p>\n<p>25 April (Monday): Sham El Nessim.<\/p>\n<p>25 April (Monday): Sinai Liberation Day.<\/p>\n<p>28 April (Thursday): National Holiday in observance of Sham El Nessim.<\/p>\n<p>30 April (Saturday): Deadline for submitting corporate tax returns for companies whose financial year ends 31 December.<\/p>\n<p>Late April - 15 May: 1Q2022 earnings season<\/p>\n<p>May: Investment in Logistics Conference, Cairo, Egypt.<\/p>\n<p>1 May (Sunday): Labor Day.<\/p>\n<p>3-4 May (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>4 May (Wednesday): 3 February (Thursday): Deadline to send in applications for Cultural Property Agreement Implementation projects to the <a href=\"https:\/\/eg.usembassy.gov\/wp-content\/uploads\/sites\/156\/CPAIG-2022-Announcment-RDL-edits.pdf\">US Embassy in Cairo<\/a>.<\/p>\n<p>5 May (Thursday): National Holiday in observance of Labor Day.<\/p>\n<p>2 May (Monday): Eid El Fitr (TBC).<\/p>\n<p>19 May (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>5-7 June (Sunday-Tuesday): <a href=\"https:\/\/www.africahealthexcon.com\/\">Africa Health ExCon<\/a>, Al Manara International Conference Center, Egypt International Exhibitions Center, and the St. Regis Almasa Hotel, New Administrative Capital.<\/p>\n<p>9 June (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>14-15 June (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>15-18 June (Wednesday-Saturday): <a href=\"https:\/\/forumspb.com\/en\/\">St. Petersburg International Economic Forum<\/a> (SPIEF), St. Petersburg.<\/p>\n<p>16 June (Thursday): End of 2021-2022 academic year for public schools.<\/p>\n<p>23 June (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>27 June-3 July (Monday-Sunday): World University Squash Championships, New Giza.<\/p>\n<p>30 June (Thursday): June 30 Revolution Day, national holiday.<\/p>\n<p>End of 2Q2022: The Financial Regulatory Authority\u2019s new Ins. Act should be approved.<\/p>\n<p>End of 1H2022: Emirati industrial company M Glory Holding and the Military Production Ministry will begin the mass production of dual fuel pickup trucks that can run on natural gas.<\/p>\n<p>2H2022: The inauguration of the Grand Egyptian Museum.<\/p>\n<p>2H2022: <a href=\"https:\/\/www.ief.org\/news\/egypt-to-host-8th-ief-igu-ministerial-gas-forum-in-2022\">IEF-IGU Ministerial Gas Forum<\/a>, Egypt. Date + location TBA.<\/p>\n<p>2H2022: The government will have vaccinated 70% of the population.<\/p>\n<p>July: A law governing ins. for seasonal contractors will come into effect.<\/p>\n<p>July: Fuel pricing committee meets to decide quarterly fuel prices.<\/p>\n<p>1 July (Friday): FY 2022-2023 begins.<\/p>\n<p>8 July (Friday): Arafat Day.<\/p>\n<p>9-13 July (Saturday-Wednesday): Eid Al Adha, national holiday.<\/p>\n<p>21 July (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>26-27 July (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>30 July (Saturday): Islamic New Year.<\/p>\n<p>Late July - 14 August: 2Q2022 earnings season.<\/p>\n<p>18 August (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>September: Egypt will display its first naval exhibition with the title <a href=\"https:\/\/bit.ly\/3lshDZX\">Naval Power<\/a>.<\/p>\n<p>September: Central Bank of Egypt\u2019s Innovation and Financial Technology Center to launch incubator for 25 fintech startups.<\/p>\n<p>8 September (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>20-21 September (Tuesday-Wednesday): Federal Reserve Finterest rate meeting.<\/p>\n<p>22 September (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>October: World Bank and IMF annual meetings in Washington, DC<\/p>\n<p>October: Fuel pricing committee meets to decide quarterly fuel prices.<\/p>\n<p>6 October (Thursday): Armed Forces Day, national holiday.<\/p>\n<p>8 October (Saturday): Prophet Muhammad\u2019s birthday, national holiday.<\/p>\n<p>18-20 October(Tuesday-Thursday): Mediterranean Offshore Conference, Alexandria, Egypt.<\/p>\n<p>27 October (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>Late October - 14 November: 3Q2022 earnings season.<\/p>\n<p>November: Cairo Water Week 2022.<\/p>\n<p>1-2 November (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>3 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>7-18 November (Monday-Friday): Egypt will host <a href=\"https:\/\/sdg.iisd.org\/events\/2021-un-climate-change-conference-unfccc-cop-27\/\">COP27<\/a> in Sharm El Sheikh.<\/p>\n<p>21 November-18 December (Monday-Sunday): 2022 Fifa World Cup, Qatar.<\/p>\n<p>13-14 December (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>15 December (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>22 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>End of 2022: e-Aswaaq\u2019s tourism platform will complete the roll out of its ticketing and online booking portal across Egypt.<\/p>\n<p>January 2023: EGX-listed companies and non-bank lenders will submit ESG reports for the first time.<\/p>\n<p>January: Fuel pricing committee meets to decide quarterly fuel prices.<\/p>\n<p><strong>**Note to readers:<\/strong> Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish above between the actual holiday and its observance.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":544264,"template":"","categories":[],"tags":[],"class_list":["post-544263","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"00250e61-7759-407f-bf92-f12befb947f0","teaser":"","photo_url":"https:\/\/ent.news\/2022\/2\/531.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The drums of war - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/the-drums-of-war\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The drums of war\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/the-drums-of-war\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T20:36:09+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/531.jpg?fit=%2C&ssl=1\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/the-drums-of-war\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/the-drums-of-war\/\",\"name\":\"The drums of war - 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