{"id":544280,"date":"2022-02-23T13:47:16","date_gmt":"2022-02-23T13:47:16","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=544280"},"modified":"2025-12-15T20:36:35","modified_gmt":"2025-12-15T20:36:35","slug":"whos-picking-up-the-bill-for-climate-damage","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/whos-picking-up-the-bill-for-climate-damage\/","title":{"rendered":"Who\u2019s picking up the bill for climate damage?"},"content":{"rendered":"<section id=\"544282\" 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=\"544282\">\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\/23\/this-evening-frances-amarenco-group-to-acquire-74-of-solarizegypts-portfolio-fb-logistics-platform-oneorder-raises-usd-1-mn\/\">\r\n                            THIS EVENING: France\u2019s Amarenco Group to acquire 74% of SolarizEgypt\u2019s portfolio + F&#038;B logistics platform OneOrder raises USD 1 mn                        <\/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\/23\/this-evening-frances-amarenco-group-to-acquire-74-of-solarizegypts-portfolio-fb-logistics-platform-oneorder-raises-usd-1-mn\/\" 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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It\u2019s a bit of a mad rush to the weekend here at home and abroad (or, more specifically, in Ukraine), with a flurry of news on both fronts to keep you busy.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>THE BIG STORY TODAY<\/strong><\/p>\n<p><strong>#1- SolarizEgypt, Amarenco Group sign USD 255 mn acquisition + JV agreement:<\/strong> French independent power producer Amarenco Group is acquiring 74% of SolarizEgypt\u2019s portfolio in Egypt and the two companies will set up a joint venture to co-develop 300 MW of solar power projects over the next four years, as per an agreement the two sides signed, according to <a href=\"https:\/\/ent.news\/2022\/2\/PRL-SOLARIZE-AMARENCO-Partnership.docx.pdf\">a statement (pdf)<\/a>.<\/p>\n<p><strong>#2- <\/strong><strong>Newly launched tech-enabled F&B logistics platform OneOrder raised USD 1 mn in a<\/strong><strong> round led by A15<\/strong>, according to a <a href=\"https:\/\/ent.news\/2022\/2\/OneOrder-English-press-release-23-February-2022.pdf\">press release (pdf)<\/a>. The logistics company aims to solve inefficiencies and fragmentation Egypt\u2019s restaurants face when sourcing supplies by creating a platform that consolidates suppliers and vendors for meat, vegetables, and equipment. Bringing these suppliers together on a single platform is hoped to yield more consistent and transparent prices, reliable quality, and regular delivery times, the release says.<\/p>\n<p><strong>^^We\u2019ll have more<\/strong> on these stories and more 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>A <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/816751ef-44a9-41d3-bf8d-94d632ccf80b\">busy day in the House<\/a><\/strong><strong> gives us future flow securitization, new eviction rules:<\/strong> The House of Representatives\u2019 general assembly approved yesterday amendments to the Capital Markets Act that will introduce future flow securitization, as well as amendments to the Old Rent Act that will allow landlords to eventually evict organizations from non-residential properties, and amendments to the Real Estate Registry Act to streamline the real estate registration process.<\/li>\n<li><strong>The EGX <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/63677123-025c-45b5-a3a5-a8291f7de242\">launched four new sub-indices<\/a><\/strong><strong> to track the performance of the most actively traded sovereign debt instruments<\/strong> yesterday in a move that paves the way for investment in index-tracking bond funds and other products linked to those gauges.<\/li>\n<li><strong>More clarity from CBE on new import rules:<\/strong> The Central Bank of Egypt has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3d8f2db6-5595-4107-bba0-f31b1775ea45\">responded in a document<\/a> to queries from importers on its recently <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f1237459-2827-438d-96c3-8fe7a8dce26e\">issued<\/a> rules requiring them to get letters of credit (L\/Cs) for their purchases instead of the common practice of documentary collection<\/li>\n<\/ul>\n<p><strong>HAPPENING NOW-<\/strong><\/p>\n<p><strong>Two Egyptian startups are pitching their businesses to leading tech investors <\/strong><strong>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 today. 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><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>THE BIG STORY ABROAD-<\/strong><\/p>\n<p><strong>The conversation on Ukraine today is focused largely on the impact (or lack thereof) of<\/strong><strong> the US and UK sanctions against Russia<\/strong>, which are being criticized for being limited in scope. Markets largely shrugged off the sanctions \u2014 billed as the \u201cfirst tranche\u201d of the West\u2019s punitive measures against Moscow \u2014 as they broadly fell short of the swift and significant steps Washington and London have been vowing to take, <a href=\"https:\/\/edition.cnn.com\/2022\/02\/23\/politics\/donald-trump-vladimir-putin-joe-biden\/index.html\">Bloomberg<\/a> reports. The sanctions are also <a href=\"https:\/\/archiv.hn.cz\/c1-67036820-zapad-se-dohodl-na-sankcich-proti-rusku-nemecko-zastavuje-nord-stream-2\">under fire<\/a> for not being directed at Russian President Vladimir Putin himself.<\/p>\n<p><strong>The EU could follow up with harsher measures, with ministers scheduled to sign off on the sanctions<\/strong> just minutes after we hit \u201csend\u201d on this afternoon\u2019s edition, <a href=\"https:\/\/www.theguardian.com\/world\/2022\/feb\/23\/eu-poised-to-announce-wide-ranging-sanctions-on-russia-over-ukraine\">the Guardian<\/a> reports.<\/p>\n<p><strong>On the other side of the equation, monetary support for Ukraine is being lined up:<\/strong> The UK rolled out a USD 500 mn loan program for Ukraine to \u201chelp mitigate economic impacts on Ukraine\u2019s economy due to Russia\u2019s aggression,\u201d according to a <a href=\"https:\/\/www.gov.uk\/government\/news\/uk-sets-out-new-multi-million-dollar-economic-package-of-support-for-ukraine\">Foreign, Commonwealth and Development Office statement<\/a>. Meanwhile, the IMF is starting a new review of Ukraine\u2019s USD 5 bn program, as Kyiv looks to unlock a fresh USD 700 mn tranche, according to <a href=\"https:\/\/www.reuters.com\/business\/imf-starts-discussions-ukraine-next-tranche-disbursement-2022-02-23\/\">Reuters<\/a>.<\/p>\n<p><strong>This comes as Ukraine decided to impose a state of emergency for 30 days<\/strong>, which can be extended for another 30 days, <a href=\"https:\/\/www.reuters.com\/world\/europe\/ukraine-impose-state-emergency-says-top-security-official-2022-02-23\/\">Reuters<\/a> reports. Kyiv also ordered its citizens in Russia to leave the country immediately, before the Ukrainian parliament agreed to impose sanctions on hundreds of Russian MPs, including those who had voted in favor of Russia\u2019s decision to recognize the independence of separatist-held areas in Ukraine, according to <a href=\"https:\/\/www.cnbc.com\/2022\/02\/23\/putin-says-russia-open-to-diplomacy-as-moscow-hit-with-fresh-sanctions.html\">CNBC<\/a>.<\/p>\n<p><strong>Meanwhile, surprisingly not in a parallel universe:<\/strong> Former US President Donald Trump is siding with\u2026 Russia, calling Moscow\u2019s decision to send troops into two separatist regions of Ukraine \u201cgenius,\u201d according to this highly editorialized analysis piece from <a href=\"https:\/\/edition.cnn.com\/2022\/02\/23\/politics\/donald-trump-vladimir-putin-joe-biden\/index.html\">CNN<\/a>.<\/p>\n<p><strong>Egypt is currently assessing just how much the unfolding crisis is going to affect us<\/strong>, with a meeting scheduled for later today to discuss the matter in depth, <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/344830094354084\">Prime Minister Moustafa Madbouly said<\/a>, without providing further details.<\/p>\n<p><strong>It\u2019s looking to us like a good news \/ bad news toss-up for Egypt:<\/strong> On the one hand, Ukraine and Russia are two of our main suppliers of wheat, leading state grain buyer GASC to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a38a8f80-51ed-4cc9-83ab-64e4d1ea633c\">lock in an April shipment of wheat<\/a> from Romania despite it being pricier than Ukrainian wheat on offer. On the potentially good news side of things, Egypt could have a chance to export more natural gas to Europe, as Greece is looking for an alternative to Russia, which presently supplies nearly half of Greece\u2019s natural gas needs, <a href=\"https:\/\/www.reuters.com\/article\/idUSL8N2UX6QW\">Reuters<\/a> reports. Azerbaijan, Egypt, Algeria, and Nigeria are among the markets Greece is currently looking at as alternatives to Russia, the newswire reports, citing sources it says have knowledge of the matter.<\/p>\n<p><strong>The crisis is also having an impact on sports, as Russia could be stripped of hosting the UEFA Champions<\/strong><strong> League final<\/strong> \u2014 club football\u2019s most prestigious match \u2014 if UK Prime Minister Boris Johnson gets his way. In an address to UK Parliament yesterday, Johnson called on UEFA to take the final match elsewhere as part of a basket of punitive measures and sanctions against Russia for its recognition of two self-proclaimed republics in Ukraine, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-02-22\/u-k-sanctions-russian-billionaires-and-banks-u-s-hit-years-ago\">Bloomberg<\/a> reports. The match is set to be played in St Petersburg\u2019s Gazprom Arena on 28 May.<\/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>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>ARE YOU BUILDING A FINTECH STARTUP?<\/strong> You might want to apply for Visa\u2019s global startup competition, the <a href=\"https:\/\/usa.visa.com\/visa-everywhere\/everywhere-initiative\/initiative.html\">Visa Everywhere Initiative<\/a>, the payments firm said in <a href=\"https:\/\/ent.news\/2022\/2\/CBE-VEI-PRL-EN-FINAL.pdf\">a statement (pdf)<\/a> yesterday. In collaboration with the Central Bank of Egypt\u2019s new Fintech Egypt project, the local contest will see Egyptian fintech players go head-to-head for a monetary award and the chance to advance to the regional and global finals. On offer: EGP 500k for the first-place finisher and a place in the Central and Eastern Europe, Middle East and Africa (CEMEA) regional finals in June.<\/p>\n<p><strong>What you need to know:<\/strong> A full breakdown on the entry criteria, the application process, and the schedule is available online <a href=\"https:\/\/usa.visa.com\/visa-everywhere\/everywhere-initiative\/initiative.html#How_to_participate_a72e\">here<\/a>. <strong>The deadline for applications in Egypt is 20 March<\/strong>.<\/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>Our short-lived reprieve from the cold isn\u2019t going to last very long, with the mercury set to reach 19\u00b0C during the day tomorrow and 11\u00b0C at night, our favorite weather app tells us.<\/p>\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\/amarenco-group\/\">Amarenco Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/solarizegypt\/\">SolarizEgypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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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=\"544284\" 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=\"544284\">\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\/23\/space-tourism-is-here-but-the-price-tag-is-hefty-crypto-is-slowly-integrating-itself-into-the-regulated-derivatives-market\/\">\r\n                            Space tourism is here, but the price tag is hefty + Crypto is slowly integrating itself into the regulated derivatives market                        <\/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\/23\/space-tourism-is-here-but-the-price-tag-is-hefty-crypto-is-slowly-integrating-itself-into-the-regulated-derivatives-market\/\" 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 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href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/23\/space-tourism-is-here-but-the-price-tag-is-hefty-crypto-is-slowly-integrating-itself-into-the-regulated-derivatives-market\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/540.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"544285\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/23\/space-tourism-is-here-but-the-price-tag-is-hefty-crypto-is-slowly-integrating-itself-into-the-regulated-derivatives-market\/540-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/540.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"540.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/540.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/540.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544284\" class=\"content-area-description single-story post-544284 post type-post status-publish format-standard has-post-thumbnail hentry category-for-your-commute tag-cryptocurrency tag-digital-fashion tag-enterprisepm tag-for-your-commute tag-metaverse tag-space tag-virgin-galactic tag-virtual-fashion tag-virtual-reality tag-virtual-retail 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-04\"><\/a> <strong>Space tourism is here for the general (but rich) public:<\/strong> Virgin Galactic has reopened <a href=\"https:\/\/www.virgingalactic.com\/\">online registration<\/a> for its first commercial flights to space that will start in late 2022, reports <a href=\"https:\/\/www.afar.com\/magazine\/how-to-book-a-virgin-galactic-space-flight\">AFAR<\/a>. Following <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2b767d09-dde7-4382-944a-918719a4fe00\">successful test flights<\/a> last year, these 90-minute, four-passenger journeys mark the beginning of citizen space tourism. Bookings for these flights began back in 2014, when the rich and famous reserved seats, the magazine writes. Passengers will get to experience weightlessness in space all with the view of planet Earth to gaze at.<\/p>\n<p><strong>The price tag is hefty:<\/strong> The starting price for a seat on one of these trips is set at a cool USD 450k.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Crypto is slowly integrating itself into regulated markets: <\/strong>In efforts to increase its user base, the crypto industry is forging paths into the highly regulated US derivatives market, the <a href=\"https:\/\/www.ft.com\/content\/364dee59-fb51-400b-acd2-808d4ec41ab3\">Financial Times writes<\/a>. Trading volumes of crypto-backed derivatives reached almost USD 3 tn in January, accounting for over 60% of total crypto trades \u2014 but most crypto trading is done via offshore, unregulated exchanges, putting the asset class <a href=\"https:\/\/www.reuters.com\/legal\/transactional\/cryptocurrency-finds-itself-sights-robust-regulation-2022-01-24\/\">in the crosshairs of US regulators<\/a>. Now, crypto platforms are acquiring small companies with licenses to operate in the US in a bid to go mainstream and gain a bigger foothold in the market.<\/p>\n<p><strong>But there\u2019s a problem brewing in BTC mining: <\/strong>BTC has lost nearly 45% of its value since a November peak of nearly USD 69k \u2014 and spiraling mining costs are partly to blame, <a href=\"https:\/\/www.reuters.com\/markets\/europe\/cryptoverse-bitcoin-could-be-laid-low-by-miners-malady-2022-02-22\/\">Reuters<\/a> reports. The total computational power (or hashrate) used by BTC miners globally has more than quadrupled as new miners rush to enter the market following last year\u2019s rally. But all that power means miners are struggling to pay their costs, including electricity bills, prompting them to sell their coins and adding to the downward pressure on prices.<\/p>\n<p><strong>Want to know more about why crypto mining is becoming more energy intensive?<\/strong> We dove into the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8b4efeab-ca1a-486c-8524-aa9bc84448dc\">issue of crypto sustainability last week<\/a>.<\/p>\n<hr class=\"grey-line\">\n<p><strong>The iron dagger found in King Tut\u2019s tomb gives us insight into how iron<\/strong><strong> manufacturing technology first began<\/strong>, <a href=\"https:\/\/www.asahi.com\/ajw\/articles\/14550285\">Japanese researchers say<\/a>. The team of researchers from the Chiba Institute of Technology used chemical analysis to determine that the dagger could not have been forged in Egypt as at the time, Egyptians had no way of producing the iron, which required ultra-high temperatures. This suggests the iron dagger was a gift to Amenhotep III, the grandfather of Tutankhamun, from Mitanni, a kingdom in northern Mesopotamia. The metal was 80 times more valuable than gold during Ancient Egyptian times due to its rarity.<\/p>\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\/cryptocurrency\/\">cryptocurrency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/digital-fashion\/\">Digital fashion<\/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\/metaverse\/\">metaverse<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/space\/\">space<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/virgin-galactic\/\">Virgin Galactic<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/virtual-fashion\/\">virtual fashion<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/virtual-reality\/\">virtual reality<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/virtual-retail\/\">virtual retail<\/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=\"544286\" 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=\"544286\">\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\/23\/space-force-comes-back-with-an-out-of-this-world-second-season-founded-is-the-no-b-s-guide-for-student-entrepreneurs\/\">\r\n                            Space Force comes back with an out of this world second season + Founded is the no B.S. guide for student entrepreneurs                        <\/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\/23\/space-force-comes-back-with-an-out-of-this-world-second-season-founded-is-the-no-b-s-guide-for-student-entrepreneurs\/\" 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 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data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/541.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/541.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544286\" class=\"content-area-description single-story post-544286 post type-post status-publish format-standard has-post-thumbnail hentry category-enterprise-recommends-2 tag-enterprise-recommends tag-enterprisepm tag-founded tag-lisa-kudrow tag-northwestern-university tag-steve-carell tag-student-entrepreneurship tag-wage-discrimination tag-womens-football wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>? <\/strong><strong>ON THE TUBE TONIGHT-<\/strong><\/p>\n<p>(all times CLT)<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Steve Carell and Lisa Kudrow return in season two of <\/strong><strong><a href=\"https:\/\/www.imdb.com\/title\/tt9612516\/\">Space Force<\/a><\/strong><strong>: <\/strong>There\u2019s general consensus that the second season of Space Force is even better than the first, with <a href=\"https:\/\/www.hollywoodinsider.com\/space-force-season-2-review\/\">Hollywood Insider<\/a> writing that it\u2019s more \u201cdown to Earth\u201d than season one. Steve Carell channels his inner Michael Scott (his character from The Office) as he plays General Mark Naird. The second season focuses more on the supporting characters, making sure to build their own plot lines within the main storyline. The workplace sitcom sees the stellar cast manage office politics and corruption among white-collar officials as they oversee the formation of the US Space Force. The force also faces the challenging task of handling the aftermath of a moon mission gone awry, speaking in front of an interrogation committee and working out how to navigate the consequences as a team.<\/p>\n<p>\u26bd <strong>The last leg of the round of 16 in the Champions League kicks off today:<\/strong> Atletico Madrid will host Manchester United, while Dutch side Ajax will face Benfica, both at 10pm.<\/p>\n<p><strong>Today will also see gameweek 26 of the English Premier League resume:<\/strong> At 9:30pm, Burnley will play against Tottenham and Watford against Crystal Palace, while Liverpool plays against Leeds at 10:30pm.<\/p>\n<p><strong>In the Egyptian League:<\/strong> El Ismaili meets El Gouna at 5:30pm, while the Eastern Company match with El Masry is ongoing as we dispatch.<\/p>\n<p>? <strong>OUT AND ABOUT-<\/strong><\/p>\n<p>(all times CLT)<\/p>\n<p><strong>Jordanian musical artist <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/s\/aziz-maraka\/1333816410424885\/\">Aziz Maraka<\/a><\/strong> <strong>is performing tonight<\/strong><strong> at Cairo Jazz Club 610<\/strong><strong> in Sheikh Zayed at 9pm. <\/strong>Meanwhile, local band <a href=\"https:\/\/www.facebook.com\/events\/s\/wust-el-balad\/533569204632126\/\">Wust El Balad<\/a> will be taking the stage at Agouza\u2019s Cairo Jazz Club at 9pm.<\/p>\n<p><strong>In Potentia: An Exploration of Egypt's Audio\/Visual Sphere <\/strong>combines electronic music and visual art scenes in a showcase at Malak Gabr Theater in AUC\u2019s New Cairo Campus. <a href=\"https:\/\/www.facebook.com\/events\/s\/in-potentia-an-exploration-of-\/996489404299328\/\">The event<\/a> will take place tomorrow at 7pm.<\/p>\n<p><strong>? UNDER THE LAMPLIGHT-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>\u201cThe No B.S. Guide for Student Entrepreneurs\u201d:<\/strong> That\u2019s how authors Melissa Kaufman and Mike Raab describe their new book, <a href=\"https:\/\/www.amazon.com\/Founded-B-S-Guide-Student-Entrepreneurs\/dp\/163909007X\">Founded<\/a>. The duo are the directors of Northwestern University\u2019s renowned student entrepreneurship program, The Garage, which helps university students learn and develop their business models. In the book, Kaufman and Raab channel their experience of guiding hundreds of early-stage startups to create a guide for young entrepreneurs to make good business decisions, avoid common mistakes, and take steps to get started on a new idea. Founded has issues that are often overlooked in the startup world, including a frank discussion on dividing up equity, warnings not to forget about sales, and the importance of good storytelling.<\/p>\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\/founded\/\">Founded<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lisa-kudrow\/\">Lisa Kudrow<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/northwestern-university\/\">Northwestern University<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/steve-carell\/\">Steve Carell<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/student-entrepreneurship\/\">student entrepreneurship<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wage-discrimination\/\">wage discrimination<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/womens-football\/\">women\u2019s football<\/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=\"544288\" 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=\"544288\">\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\/23\/earnings-watch-el-nasr-civil-works-oriental-weavers-eipico\/\">\r\n                            Earnings watch: El Nasr Civil Works, Oriental Weavers, EIPICO                        <\/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\/23\/earnings-watch-el-nasr-civil-works-oriental-weavers-eipico\/\" 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\/23\/earnings-watch-el-nasr-civil-works-oriental-weavers-eipico\/')\">\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\/23\/earnings-watch-el-nasr-civil-works-oriental-weavers-eipico\/\">\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=Earnings watch: El Nasr Civil Works, Oriental Weavers, EIPICO&url=https:\/\/enterpriseam.com\/egypt\/2022\/02\/23\/earnings-watch-el-nasr-civil-works-oriental-weavers-eipico\/\">\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\/23\/earnings-watch-el-nasr-civil-works-oriental-weavers-eipico\/&title=Earnings watch: El Nasr Civil Works, Oriental Weavers, EIPICO\">\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=Earnings+watch%3A+El+Nasr+Civil+Works%2C+Oriental+Weavers%2C+EIPICO+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F02%2F23%2Fearnings-watch-el-nasr-civil-works-oriental-weavers-eipico%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\/23\/earnings-watch-el-nasr-civil-works-oriental-weavers-eipico\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544288\" class=\"content-area-description single-story post-544288 post type-post status-publish format-standard hentry category-go-with-the-flow tag-earnings-watch tag-eipico tag-el-nasr-civil-works tag-enterprisepm tag-go-with-the-flow tag-oriental-weavers wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>EARNINGS WATCH-<\/strong><\/p>\n<p><strong>El Nasr Civil Works reported a net income of EGP 958k in 2021<\/strong>, reversing from net losses of EGP 27.02 mn in 2020, according to the company\u2019s <a href=\"https:\/\/ent.news\/2022\/2\/Nast-Civil-Works-23-02-2022.pdf\">financials (pdf)<\/a>. Revenues saw a 24.5% annual drop for the year to record EGP 135.82 mn.<\/p>\n<p><strong>Oriental Weavers reported a net income of EGP 1.21 bn in 2021<\/strong>, up 8.8% y-o-y, according to its <a href=\"https:\/\/www.egx.com.eg\/downloads\/News\/%D8%A7%D9%84%D9%86%D8%B3%D8%A7%D8%AC%D9%88%D9%86%20%D9%85%D8%AC%D9%85%D8%B9%D8%A9%2023-2-2022.pdf\">financial statement (pdf)<\/a>. Revenues for the year rose 20.2% y-o-y to EGP 11.40 bn.<\/p>\n<p><strong>The Egyptian International Pharma Industries (EIPICO) reported EGP 552.81 mn in<\/strong><strong> net income in 2021<\/strong>, up 7.2% y-o-y, according to the pharma company\u2019s <a href=\"https:\/\/www.egx.com.eg\/downloads\/News\/%d8%a7%d9%8a%d8%a8%d9%8a%d9%83%d9%88%20%d9%82%d9%88%d8%a7%d8%a6%d9%85%20%d9%85%d8%ac%d9%85%d8%b9%d8%a9%2023-02-2022.pdf\">financial statement (pdf)<\/a>. Revenues saw 19.1% y-o-y growth to record EGP 3.44 bn.<\/p>\n<hr class=\"grey-line\">\n<p><strong>MARKET ROUNDUP-<\/strong><\/p>\n<p><strong>The EGX30 fell less than 0.1% at today\u2019s close<\/strong> on turnover of EGP 613 mn (39.7% 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>GB Auto (+5.4%), Oriental Weavers (+3.2%) and Fawry (+1.8%).<\/p>\n<p><strong>In the red: <\/strong>CIRA (-1.7%), Heliopolis Housing (-1.6%) and Orascom Construction (-1.3%).<\/p>\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\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eipico\/\">Eipico<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/el-nasr-civil-works\/\">El Nasr Civil works<\/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\/oriental-weavers\/\">Oriental Weavers<\/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=\"544289\" 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=\"544289\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Climate<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/23\/whos-responsible-for-loss-and-damage-compensation-from-climate-change\/\">\r\n                            Who\u2019s responsible for loss and damage compensation from climate change?                        <\/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\/23\/whos-responsible-for-loss-and-damage-compensation-from-climate-change\/\" 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 Alliance of Small Island States <a href=\"https:\/\/unfccc.int\/resource\/docs\/1991\/a\/eng\/misc17a09.pdf\">proposed (pdf)<\/a> setting up a fund that would see developed industrialized countries compensate \u201clow-lying developing countries\u201d for future damages caused by rising sea levels and allow these affected nations to rebuild their communities. It wasn\u2019t until the 2007 <a href=\"https:\/\/unfccc.int\/resource\/docs\/2007\/cop13\/eng\/06a01.pdf\">Bali Action Plan<\/a>, however, that the concept of loss and damages was formally included in a UN resolution, according to <a href=\"https:\/\/www.carbonbrief.org\/explainer-dealing-with-the-loss-and-damage-caused-by-climate-change\">Carbon Brief<\/a>.<\/p>\n<p><strong>In the years since, there has been little headway on providing financing through an institutionalized channel<\/strong> specifically for loss and damage compensation, with much of the conversation focused instead on future climate disaster mitigation and the general green transition, <a href=\"https:\/\/www.npr.org\/2021\/11\/11\/1054809644\/climate-change-cop26-loss-and-damage\">NPR<\/a> notes. Last year\u2019s COP26 in Glasgow saw a concerted effort from developing countries \u2014 representing the vast majority of the world\u2019s nations \u2014 to create a financing mechanism to support the recovery from climate disasters, <a href=\"https:\/\/www.reuters.com\/business\/cop\/vulnerable-states-call-climate-loss-damage-deal-bare-minimum-2021-11-12\/\">Reuters<\/a> reported. The push ended up largely falling flat, with the proposal eventually being turned down by developed countries who would be required to pony up the funding.<\/p>\n<p><strong>Part of the problem:<\/strong> Assuming retroactive liability and responsibility for the damage that\u2019s already been done. The <a href=\"https:\/\/unfccc.int\/resource\/docs\/2013\/cop19\/eng\/10a01.pdf\">2013 Warsaw International Mechanism on Loss and Damage (pdf)<\/a> was a significant step forward for the issue by acknowledging that \u201closs and damage associated with the adverse effects of climate change includes, and in some cases involves more than, that which can be reduced by adaptation,\u201d but, critically, it fell short of determining who should be held responsible for these losses and damages.<\/p>\n<p><strong>It doesn\u2019t look like this direction will change anytime soon:<\/strong> In a speech in Cairo earlier this week following the launch of the Egypt-US climate <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6b641e4f-7760-4a09-9888-93baaba809f6\">working group<\/a> ahead of COP27, Kerry spoke of a necessity for national commitments to curb climate change, only mentioning briefly the issue of loss and damage. The climate envoy suggested that focusing on retroactive compensations \u201ccould delay our ability to do the most important thing of all, which is [to] achieve mitigation sufficient to reduce the level of adaptation.\u201d<\/p>\n<p><strong>Climate advocates are not happy:<\/strong> \u201cLoss and damage is beyond adaptation,\u201d and is a critical component of the conversation about climate mitigation, as it\u2019s a \u201cclimate justice issue, said Tasneem Essop, executive director of Climate Action Network, at a briefing on Africa\u2019s agenda for COP27 on Monday.<\/p>\n<p><strong>But while the issue was not of much importance for Kerry, it was for President Abdel Fattah El Sisi<\/strong>, who said this week that Egypt <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6b641e4f-7760-4a09-9888-93baaba809f6\">will work<\/a> to ensure developing countries get the funding they need from developed countries to fight climate change. El Sisi has been <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a6294170-e376-48bc-bf82-aa80b8e0fde5\">outspoken<\/a> about prioritizing finance for Africa\u2019s green transition, which Bloomberg <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-02-21\/egypt-s-cop27-will-turn-attention-to-climate-justice\">says<\/a> will be a key theme for this year\u2019s summit.<\/p>\n<p><strong>Possibly lending a helping hand to Africa to fund climate mitigation: The continent\u2019s first Green Exchange: <\/strong>Two fintech entrepreneurs are setting up the first exchange dedicated to green bonds in Africa, to address the continent\u2019s need for financing climate change projects, <a href=\"http:\/\/bloomberg.com\/news\/articles\/2022-02-22\/fintech-entrepreneurs-aim-to-spur-green-bond-issuance-in-africa?sref=mmeFTDW1\">Bloomberg<\/a> reports. The Green Exchange \u2014 based in Ghana\u2019s Accra \u2014 will provide the tools needed for companies to issue green bonds and will help investors trade them in a secondary market. The founders aim to raise USD 5 bn from African green bond sales over five years, to fund sustainable projects such as EV charging stations, solar panel installations, and sustainable housing. Global green bond investments are expected to reach USD 1 tn<a href=\"https:\/\/www.reuters.com\/business\/sustainable-business\/global-green-bond-issuance-could-pass-1-trln-next-year-survey-says-2021-10-28\/%5C\">in 2022 alone<\/a>; however, the African market contributes <a href=\"https:\/\/www.brookings.edu\/blog\/africa-in-focus\/2021\/03\/26\/africas-green-bond-market-trails-behind-other-regions\/\">a mere 0.4%<\/a> of the global market share by value.<\/p>\n<p><strong>Egypt pioneered the use of green bonds in MENA<\/strong>, taking the region\u2019s <a href=\"https:\/\/enterprise.press\/greeneconomys\/egypt-poised-ride-2021s-green-bond-wave\/\">first sovereign green bond issuance<\/a> to market in 2020, raising USD 750 mn from investors to channel into green projects. CIB also <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ea5e3510-53bf-4f7b-b5ed-f3ae5b19eb31\">issued<\/a> Egypt\u2019s first-ever corporate green bond last year, raising USD 100 mn in a five-year, fixed-rate offering.<\/p>\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\/climate\/\">Climate<\/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\/climate-loss-and-damage-compensation\/\">climate loss and damage compensation<\/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\/green-economy\/\">Green Economy<\/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=\"544291\" 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\/23\/544291\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544291\" class=\"content-area-description single-story post-544291 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>22-24 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 \u2013 new administrative capital \u2013 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>20 March (Sunday): Applications close for Visa\u2019s global startup competition, the <a href=\"https:\/\/usa.visa.com\/visa-everywhere\/everywhere-initiative\/initiative.html\">Visa Everywhere Initiative<\/a>.<\/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' 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' 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\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":544281,"template":"","categories":[],"tags":[],"class_list":["post-544280","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"6dfbe9d7-5d7b-4ead-9a2a-fc52a4c183cb","teaser":"","photo_url":"https:\/\/ent.news\/2022\/2\/539.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>Who\u2019s picking up the bill for climate damage? - 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\/whos-picking-up-the-bill-for-climate-damage\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Who\u2019s picking up the bill for climate damage?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/whos-picking-up-the-bill-for-climate-damage\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T20:36:35+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\/539.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\/whos-picking-up-the-bill-for-climate-damage\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/whos-picking-up-the-bill-for-climate-damage\/\",\"name\":\"Who\u2019s picking up the bill for climate damage? 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