{"id":545359,"date":"2022-03-23T13:50:03","date_gmt":"2022-03-23T13:50:03","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=545359"},"modified":"2025-12-15T21:02:08","modified_gmt":"2025-12-15T21:02:08","slug":"is-the-shine-fading-from-ultra-fast-delivery-startups-us-startups-seem-to-suggest-so","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/is-the-shine-fading-from-ultra-fast-delivery-startups-us-startups-seem-to-suggest-so\/","title":{"rendered":"Is the shine fading from ultra-fast delivery startups? US startups seem to suggest so"},"content":{"rendered":"<section id=\"545361\" 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=\"545361\">\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\/03\/23\/this-evening-is-adq-acquiring-stakes-in-abu-qir-fertilizers-mopco-and-alexandria-container-cargo-handling-banque-misr-purchases-8-85-stake-in-fawry\/\">\r\n                            THIS EVENING: Is ADQ acquiring stakes in Abu Qir Fertilizers, Mopco, and Alexandria Container &#038; Cargo Handling? + Banque Misr purchases 8.85% stake in Fawry                        <\/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\/03\/23\/this-evening-is-adq-acquiring-stakes-in-abu-qir-fertilizers-mopco-and-alexandria-container-cargo-handling-banque-misr-purchases-8-85-stake-in-fawry\/\" 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\/03\/23\/this-evening-is-adq-acquiring-stakes-in-abu-qir-fertilizers-mopco-and-alexandria-container-cargo-handling-banque-misr-purchases-8-85-stake-in-fawry\/')\">\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\/03\/23\/this-evening-is-adq-acquiring-stakes-in-abu-qir-fertilizers-mopco-and-alexandria-container-cargo-handling-banque-misr-purchases-8-85-stake-in-fawry\/\">\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: Is ADQ acquiring stakes in Abu Qir Fertilizers, Mopco, and Alexandria Container &#038; Cargo Handling? + Banque Misr purchases 8.85% stake in Fawry&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/23\/this-evening-is-adq-acquiring-stakes-in-abu-qir-fertilizers-mopco-and-alexandria-container-cargo-handling-banque-misr-purchases-8-85-stake-in-fawry\/\">\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\/03\/23\/this-evening-is-adq-acquiring-stakes-in-abu-qir-fertilizers-mopco-and-alexandria-container-cargo-handling-banque-misr-purchases-8-85-stake-in-fawry\/&title=THIS EVENING: Is ADQ acquiring stakes in Abu Qir Fertilizers, Mopco, and Alexandria Container &#038; Cargo Handling? + Banque Misr purchases 8.85% stake in Fawry\">\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+Is+ADQ+acquiring+stakes+in+Abu+Qir+Fertilizers%2C+Mopco%2C+and+Alexandria+Container+%26%23038%3B+Cargo+Handling%3F+%2B+Banque+Misr+purchases+8.85%25+stake+in+Fawry+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F23%2Fthis-evening-is-adq-acquiring-stakes-in-abu-qir-fertilizers-mopco-and-alexandria-container-cargo-handling-banque-misr-purchases-8-85-stake-in-fawry%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\/03\/23\/this-evening-is-adq-acquiring-stakes-in-abu-qir-fertilizers-mopco-and-alexandria-container-cargo-handling-banque-misr-purchases-8-85-stake-in-fawry\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545361\" class=\"content-area-description single-story post-545361 post type-post status-publish format-standard hentry category-what-were-tracking-tonight tag-adq tag-banque-misr tag-china tag-efg-hermes tag-enterprisepm tag-fawry tag-russia-ukraine-war 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 another busy news day on all fronts<\/strong> as we sprint to the weekly finish line, ladies and gentlemen, with stake sales and investments topping headlines locally, and ongoing global energy concerns leading headlines abroad.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>THE BIG STORY TODAY<\/strong><\/p>\n<p><strong>#1- BREAKING- Abu Dhabi wealth fund ADQ is reportedly acquiring unspecified state-held stakes in Abu <\/strong><strong>Qir Fertilizers, Mopco, and Alexandria Container & Cargo Handling<\/strong>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-23\/giant-uae-egypt-deal-said-to-include-stakes-in-fertilizer-firms?sref=mmeFTDW1\">Bloomberg<\/a> reports, citing a source it says has knowledge of the matter. The reported sale would be part of a USD 2 bn investment from ADQ in snapping up state-held stakes in five EGX-listed companies, which <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b620f717-d83d-4c48-906c-a85dca2eff2a\">Bloomberg reported earlier this week<\/a> would include up to 18% of leading private sector bank CIB, an unspecified stake in fintech darling Fawry, and three other unnamed companies.<\/p>\n<p><strong>Speaking of Fawry and stake purchases: <\/strong>State-owned Banque Misr has purchased an 8.85% stake in the fintech company in a EGP 1.47 bn block transaction, according to <a href=\"https:\/\/ent.news\/2022\/3\/Fawry-sale-BM-23-Mar-2022.pdf\">a disclosure to the EGX (pdf)<\/a>. The bank purchased 151.10 mn shares at an average price of EGP 9.75 per share. The transaction brings Banque Misr\u2019s total stake in Fawry to 15.78%.<\/p>\n<p><strong>#2- EFG Hermes-led Vortex Energy, RX Healthcare, and Education Fund eyeing fresh<\/strong><strong> investments + acquisitions:<\/strong> EFG Hermes\u2019 Egypt Education Fund, and its healthcare arm, RX Healthcare, are studying new investments and acquisitions over the coming period, head of Private Equity and Asset Management Karim Moussa told Enterprise. These plans include some USD 30-40 mn the education fund plans to invest over the next 18 months, while RX Healthcare Management is looking into two or three majority stake acquisitions of pharma companies in transactions valued at between USD 200-500 mn apiece. Vortex Energy is also planning to reach a USD 550 mn second close for its Vortex Energy IV fund within the next two years, Moussa told us.<\/p>\n<p><strong>^^We\u2019ll have more on these stories<\/strong> and others in tomorrow\u2019s edition of <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>GDP forecast downgraded as cabinet signs off on 2022-2023 budget:<\/strong> Egypt has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/69470760-13ca-4936-83f2-59c11fea41f7\">revised downwards<\/a> its GDP forecast for FY 2022-2023, according to figures in the draft budget that was approved by ministers yesterday.<\/li>\n<li><strong>More chatter that we are, indeed, going to talk to the IMF about a new program:<\/strong> Analysts, including at Goldman Sachs, Moody\u2019s and Capital Economics, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a0c49a86-2202-4521-9be3-5b7aa433c3e5\">are speculating<\/a> that the fiscal stimulus package and monetary policy measures announced Monday will pave the way for a fresh IMF program as the ongoing commodity price shock puts strain on the economy.<\/li>\n<li><strong>Suez Canal transit fees to rise in May:<\/strong> The Suez Canal Authority <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a162e4f8-4b94-4485-be75-e10e4ce2f07b\">will raise fees<\/a> for ships transiting the waterway from the beginning of May.<\/li>\n<\/ul>\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> Russia could cut its oil supply by about 1 mn barrels per day<\/strong>, Russian Deputy Energy Minister Pavel Sorokin said in a statement shared by the <a href=\"https:\/\/tass.com\/economy\/1425875\">Russian news agency TASS<\/a>. This comes as the country is working to repair its storm-damaged oil loading facilities at the Caspian Pipeline Consortium terminal \u2014 which makes up 2.5% of global seaborne oil trade. Depending on the damage, the repairs could take up to two months, during which the pipeline could slash its oil supply by about 1 mn bbl\/day, putting the already vulnerable oil prices in a risky position, where they could rise even more. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b3461e44-0a84-4978-8acb-4c6f19508729\">Europe is already facing a \u201csystemic\u201d shortage<\/a> of diesel due to sanctions on Russia that could force governments to ration fuel as energy traders fear that western sanctions on Moscow could remove as much as 3 mn bbl\/day of oil and petroleum products from the market. European gas prices continued its upward trend today on the back of talks of new sanctions, with Dutch gas futures rising 4.1% and British futures jumped 4%, reports <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-23\/european-gas-steady-as-traders-weigh-russian-sanctions-outlook?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a>.<\/p>\n<p><strong>A glimmer of hope: <\/strong>European gas is \u201clikely to remain highly volatile but with a downside bias,\u201d according to a Citigroup note cited by Bloomberg. Germany refusing to enforce natural gas sanctions on Russia will help cap the price increases, while China\u2019s likelihood to increase coal production will decrease the demand for LNG, the note added.<\/p>\n<p><strong>And the US could soon offer a solution: <\/strong>US President Joe Biden \u201cwill announce joint action on enhancing European energy security and reducing Europe\u2019s dependence on Russian gas at long last,\u201d White House national security adviser Jake Sullivan <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/press-briefings\/2022\/03\/22\/press-briefing-by-deputy-press-secretary-chris-meagher-and-national-security-advisor-jake-sullivan-march-22-2022\/\">said in a presser<\/a>, as Biden heads to Brussels for talks with European officials.<\/p>\n<hr class=\"grey-line\">\n<p><strong>MEANWHILE- Chinese authorities have found one black box from the <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1d663bed-2749-42ca-9f5c-b1e36eac7947\">deadly Boeing 737<\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1d663bed-2749-42ca-9f5c-b1e36eac7947\">plane crash<\/a><\/strong> after two days of searching, reports <a href=\"https:\/\/www.reuters.com\/article\/us-egypt-environment-interview-idUSTRE6191AN20100210\">Reuters<\/a>. The box was found \u201cseverely damaged\u201d \u2014 so much so that authorities can\u2019t determine if it is the flight data recorder or the cockpit voice recorder at this stage. The flight nosedived into a mountainside on Monday, and new reports suggest that the pilot failed to answer calls from Chinese air-traffic controllers during the incident, according to <a href=\"https:\/\/www.livemint.com\/news\/world\/black-box-of-crashed-china-eastern-jet-located-report-11648027172705.html\">Mint<\/a>. All 123 passengers and nine crew are presumed dead.<\/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>HAPPENING TOMORROW-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>EV-charging bid deadline is tomorrow:<\/strong> Tomorrow is the <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/359966742840419\">deadline for companies<\/a> applying to manage the soon-to-be-established company for EV charging stations. The deadline was originally set for 17 March but was extended for one week. Three companies so far have expressed their interest in the project.<\/p>\n<p><strong>REMINDER- There\u2019s no MPC meeting tomorrow:<\/strong> The Central Bank of Egypt <a href=\"https:\/\/ent.news\/2022\/3\/CBE-statement-cancelling-Thursday-24-March-22-meeting.pdf\">has canceled<\/a><a href=\"https:\/\/ent.news\/2022\/3\/CBE-statement-cancelling-Thursday-24-March-22-meeting.pdf\">(pdf)<\/a> Thursday\u2019s regularly scheduled Monetary Policy Committee meeting after enacting a surprise 100 bps rate hike at a special meeting early Monday morning.<\/p>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>The Egypt International Mining Show (<\/strong><strong><a href=\"https:\/\/egypt-mining.com\/\">EIMS 2022<\/a><\/strong><strong>) kicks off next Monday.<\/strong> The virtual event will wrap on Tuesday.<\/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><strong>WEATHER-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> ? <strong>PSA- We\u2019re in for some chilly weather and rain tonight<\/strong>, according to the <a href=\"https:\/\/bit.ly\/3L8ny0I\">Egyptian<\/a><a href=\"https:\/\/bit.ly\/3L8ny0I\">Meteorological Authority<\/a>. Greater Cairo could experience light rainfalls at night while coastal regions are in for a full blown thunderstorm. Tomorrow\u2019s weather will likely be the same at 19\u00b0C during the day and 8\u00b0C at night, but there\u2019s less of a chance of rain, our favorite weather app tells us. Temps in Cairo are on track to rise to the high 30s by the end of next week and to 41\u00b0C on Saturday, 2 April (probably the first day of Ramdan).<\/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\/adq\/\">ADQ<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-misr\/\">Banque Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fawry\/\">Fawry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia-ukraine-war\/\">Russia-Ukraine war<\/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=\"545362\" 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 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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=\"545363\" 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=\"545363\">\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\/03\/23\/chip-shortage-looks-like-its-staying-with-us-a-while-longer-crypto-com-to-back-fifa-world-cup\/\">\r\n                            Chip shortage looks like it\u2019s staying with us a while longer + Crypto.com to back Fifa World Cup                        <\/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\/03\/23\/chip-shortage-looks-like-its-staying-with-us-a-while-longer-crypto-com-to-back-fifa-world-cup\/\" 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\" 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<a href=\"https:\/\/api.whatsapp.com\/send?text=Chip+shortage+looks+like+it%E2%80%99s+staying+with+us+a+while+longer+%2B+Crypto.com+to+back+Fifa+World+Cup+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F23%2Fchip-shortage-looks-like-its-staying-with-us-a-while-longer-crypto-com-to-back-fifa-world-cup%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\/03\/23\/chip-shortage-looks-like-its-staying-with-us-a-while-longer-crypto-com-to-back-fifa-world-cup\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/548.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"545364\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/23\/chip-shortage-looks-like-its-staying-with-us-a-while-longer-crypto-com-to-back-fifa-world-cup\/548-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/548.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"548.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/548.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/548.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545363\" class=\"content-area-description single-story post-545363 post type-post status-publish format-standard has-post-thumbnail hentry category-for-your-commute tag-asml tag-chip-shortage tag-crypto-com tag-cryptocurrency tag-enterprisepm tag-for-your-commute tag-semiconductors tag-sports tag-world-cup 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>And the chip shortage lives on: <\/strong>Chipmakers\u2019 expansion plans to meet the growing demand and fill the gap between supply and demand will reportedly be constrained thanks to a shortage of critical equipment. \u201cNext year and the year after there will be shortages \u2026 We\u2019re going to ship more machines this year than last year and . . . more machines next year than this year. But it will not be enough if we look at the demand curve. We really need to step up our capacity significantly more than 50%. That will take time,\u201d Peter Wennink, chief executive of the semiconductor company ASML told the <a href=\"https:\/\/www.ft.com\/content\/763c9e15-44ab-43bc-b3e9-0d03bf27e841\">Financial Times<\/a>. The global chip shortage has been wreaking havoc on the automotive industry worldwide. Major global automakers have been <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5b87d2e8-33ea-4b90-9884-1dfdd2b843ab\">forced to lower production<\/a> or announce additional factory downtime at their production facilities, including <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9eb2a1d1-8f35-4c24-ac19-9839fb83700a\">Toyota<\/a>and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/244e6eb7-2840-4724-93f3-5234d46336a6\">Volkswagen<\/a>, who cut their global output by 40%.<\/p>\n<p><strong>Crypto.com becomes the first cryptocurrency platform to sponsor a Fifa World <\/strong><strong>Cup:<\/strong> Singapore-based cryptocurrency platform Crypto.com will be an official sponsor of the Fifa World Cup Qatar 2022, Fifa announced in a <a href=\"https:\/\/www.fifa.com\/tournaments\/mens\/worldcup\/qatar2022\/media-releases\/crypto-com-unveiled-as-fifa-world-cup-qatar-2022-tm-official-sponsor\">statement<\/a>, joining giant sponsors like Adidas, Coca Cola and Visa. The sponsorship marks the platform\u2019s latest marketing push to bring the industry into the mainstream, particularly through the world of sports, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-23\/crypto-com-signs-on-as-fifa-sponsor-deepening-push-into-sports?sref=mmeFTDW1\">Bloomberg<\/a> writes. The move follows its USD 700 mn naming rights agreement with the Los Angeles iconic arena formerly known as Staples Center \u2014 and now known as the Crypto.com Center. \u201cThrough our partnership with Fifa, we will continue to use our platform in innovative ways so that Crypto.com can power the future of world-class sports and fan experiences around the world,\u201d Co-founder and CEO Kris Marszalek said in the statement. It is worth noting that Crypto.com is a major sponsor of the UFC.<\/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\/asml\/\">ASML<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/chip-shortage\/\">chip shortage<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/crypto-com\/\">Crypto.com<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/for-your-commute\/\">FOR YOUR COMMUTE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/semiconductors\/\">semiconductors<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-cup\/\">World Cup<\/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=\"545365\" 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=\"545365\">\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\/03\/23\/beloved-video-game-tekken-bloodline-is-soon-to-be-an-anime-series-redesigning-work-looks-at-whats-next-for-the-office\/\">\r\n                            Beloved video game Tekken: Bloodline is soon to be an anime series + Redesigning Work looks at what\u2019s next for the office                        <\/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\/03\/23\/beloved-video-game-tekken-bloodline-is-soon-to-be-an-anime-series-redesigning-work-looks-at-whats-next-for-the-office\/\" 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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For those too young or too old to have owned a PS1: Jin Kazama wants revenge for his mother\u2019s death at the hands of a demon so he seeks out his grandfather, Heihachi Mishima, to teach him to fight. Fans of the video game know that Heihachi is one of the game\u2019s hardcore characters, being the leader of a private military contractor known as the Mishima Zaibatsu. His quest for revenge will eventually lead him to the King of Iron Fist Tournament, where he\u2019ll meet a number of characters from the game including the jaguar-masked King, Paul Phoenix, DLC fighter and Jin\u2019s father Kazuya Mishima.<\/p>\n<p><strong>We haven\u2019t kept our disdain for Netflix\u2019s cookie cutter adaptations a secret\u2026except when <\/strong><strong>it comes to their anime adaptations of video games<\/strong>, with Netflix having previously successfully brought to life League of Legends, Castlevania, and The Witcher. And as fans of the game, we cannot wait for this. You can check out the trailer here (<a href=\"https:\/\/www.youtube.com\/watch?v=WTc2xXcJFwU\">watch, runtime: 01:39<\/a>).<\/p>\n<p>\u26bd <strong>We\u2019re still waiting on Friday<\/strong>, when Egypt is scheduled to play against Senegal in the first leg of the decisive final stage of the African qualifiers for the World Cup.<\/p>\n<p>? <strong>OUT AND ABOUT-<\/strong><\/p>\n<p>(all times CLT)<\/p>\n<p><strong>Egypt\u2019s reportedly first ever standup comedy show that is organized, hosted, and <\/strong><strong>performed 100% by women is set to take place at <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/1048878535695779?ref=newsfeed\">The Room New Cairo<\/a><\/strong> tonight at 8.30 pm. The lineup of comedians include: Noha Kato, Reem Nabil, Bernadette, Salma AlNajar, Ghada Salah, and Rahma Zein.<\/p>\n<p><strong>Sharmoofers are <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/s\/sharmoofers\/640242607277468\/\">performing tonight<\/a><\/strong><strong> at Cairo Jazz Club 610 at 9pm.<\/strong><\/p>\n<p><strong>New Cairo\u2019s Lake View Compound<\/strong><strong> is hosting <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/s\/shop-for-a-cause\/821128258844847\/\">Shop for a Cause<\/a><\/strong> \u2014 a bazaar organized by AlAlaa Charity Organization, Meraki, and Ville Bleue where proceeds will go to charity. The event will take place between 11am and 6pm.<\/p>\n<p><strong>? UNDER THE LAMPLIGHT-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Redesigning Work looks at what\u2019s next for the office: <\/strong>London Business School Professor Lynda Gratton is considered a global thought-leader on the future of work, having introduced the idea of remote work years before the pandemic. In her new book, <a href=\"https:\/\/www.amazon.com\/Redesigning-Work-Transform-Organisation-Everyone-ebook\/dp\/B09H2FW82L\">Redesigning Work<\/a>, she argues that organizations usually \u201cfreeze\u201d or keep their culture, structure and practices fairly fixed, writes the <a href=\"https:\/\/www.ft.com\/content\/c10968e0-be37-4a19-85a3-2f4f3f97d299\">Financial Times<\/a>. However, the pandemic led the world to \u201cunfreeze\u201d and look at new working techniques and create a corporate culture from afar. Before the world \u201crefreezes\u201d it\u2019s important to capitalize on the lessons learned from a more fluid state to create a better working model going forward. However, that doesn\u2019t always mean a hybrid or remote system, with Gratton posing in the book a process to set a new working model that suits your company.<\/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\/bloodline\/\">Bloodline<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/lynda-gratton\/\">Lynda Gratton<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tekken\/\">Tekken<\/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=\"545367\" 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=\"545367\">\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\/03\/23\/earnings-watch-egyptian-resorts-company\/\">\r\n                            Earnings watch: Egyptian Resorts Company                        <\/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\/03\/23\/earnings-watch-egyptian-resorts-company\/\" 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\/03\/23\/earnings-watch-egyptian-resorts-company\/')\">\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\/03\/23\/earnings-watch-egyptian-resorts-company\/\">\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: Egyptian Resorts Company&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/23\/earnings-watch-egyptian-resorts-company\/\">\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\/03\/23\/earnings-watch-egyptian-resorts-company\/&title=Earnings watch: Egyptian Resorts Company\">\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+Egyptian+Resorts+Company+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F23%2Fearnings-watch-egyptian-resorts-company%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\/03\/23\/earnings-watch-egyptian-resorts-company\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545367\" class=\"content-area-description single-story post-545367 post type-post status-publish format-standard hentry category-go-with-the-flow tag-earnings-watch tag-egx tag-egyptian-resorts-company tag-enterprisepm tag-go-with-the-flow 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>Egyptian Resorts Company <\/strong><strong>saw its losses decline to EGP 4.5 mn in FY2021<\/strong> compared to losses of EGP 44.6 mn in 2020, according to ERC\u2019s <a href=\"https:\/\/ent.news\/2022\/3\/Egyptian-Resorts-Company.pdf\">financial statements (pdf)<\/a>. Total operating revenues increased nearly 22% y-oy during 2021 to reach EGP 127.6 mn.<\/p>\n<hr class=\"grey-line\">\n<p><strong>MARKET ROUNDUP- <\/strong><\/p>\n<p><strong>The EGX30 rose 0.7% at today\u2019s close<\/strong> on turnover of EGP 1.04 bn (7.4% above the 90-day average). Foreign investors were net sellers. The index is down 1.7% YTD.<\/p>\n<p><strong>In the green: <\/strong>Heliopolis Housing (+7.2%), Ezz Steel (+5.8%) and Madinet Nasr Housing (+2.9%).<\/p>\n<p><strong>In the red: <\/strong>Ibnsina Pharma (-2.0%), TMG Holding (-1.8%) and MM Group (-1.5%).<\/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\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-resorts-company\/\">Egyptian Resorts Company<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"545368\" 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=\"545368\">\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\">WHAT\u2019S NEXT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/23\/how-sustainable-is-the-ultra-fast-delivery-model\/\">\r\n                            How sustainable is the ultra-fast delivery model?                        <\/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\/03\/23\/how-sustainable-is-the-ultra-fast-delivery-model\/\" 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\/03\/23\/how-sustainable-is-the-ultra-fast-delivery-model\/')\">\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\/03\/23\/how-sustainable-is-the-ultra-fast-delivery-model\/\">\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=How sustainable is the ultra-fast delivery model?&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/23\/how-sustainable-is-the-ultra-fast-delivery-model\/\">\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\/03\/23\/how-sustainable-is-the-ultra-fast-delivery-model\/&title=How sustainable is the ultra-fast delivery model?\">\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=How+sustainable+is+the+ultra-fast+delivery+model%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F23%2Fhow-sustainable-is-the-ultra-fast-delivery-model%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\/03\/23\/how-sustainable-is-the-ultra-fast-delivery-model\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/551.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"545369\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/23\/how-sustainable-is-the-ultra-fast-delivery-model\/551-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/551.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"551.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/551.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/551.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545368\" class=\"content-area-description single-story post-545368 post type-post status-publish format-standard has-post-thumbnail hentry category-whats-next-2 tag-enterprisepm tag-startups tag-whats-next 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-07\"><\/a> <strong> As two ultra-fast delivery startups go bust in the US, we have to wonder if the <\/strong><strong>shine is fading from this new global delivery trend: <\/strong>Ultra-fast delivery \u2014 generally understood as online delivery usually completed within 10-20 minutes \u2014 seemed poised to be the next big thing in grocery delivery, with capital flooding into the sector since early 2020. But recently, two prominent startups operating in the US <a href=\"https:\/\/edition.cnn.com\/2022\/03\/11\/tech\/ultra-fast-delivery-startups-fridge-no-more-buyk\/index.html\">closed their doors<\/a> in the space of a week due to their inability to raise funds.<\/p>\n<p><strong>Which two startups have gone under?<\/strong> <a href=\"https:\/\/fridgenomore.com\/\">Fridge No More<\/a>, which launched in October 2020, was unable to continue operating after its failure to secure a potential sale added to \u201cthe dramatic and unexpected lack of funding.\u201d And <a href=\"https:\/\/buyk.com\/\">Buyk<\/a>, which launched a year later, was forced to lay off its 870 employees earlier this month after its Russian owners found themselves struggling to access much-needed bridge funding due to recent sanctions. Buyk\u2019s total funding was USD 46 mn while Fridge No More had funding of USD 16.9 mn.<\/p>\n<p><strong>Fridge No More and Buyk were among a handful of well-funded ultra-fast delivery apps jostling for market share in New York:<\/strong> As of February 2022, the \u201cNew York City battleground\u201d <a href=\"https:\/\/www.businessinsider.com\/inside-new-york-citys-6-ultrafast-grocery-delivery-operators-2021-10\">included<\/a> DoorDash, Gorillas, Buyk, Gopuff, Fridge No More, Jokr, and Getir. Gorillas and Getir, which each have total funding of USD 1.2 bn, have also <a href=\"https:\/\/www.theguardian.com\/business\/2021\/dec\/09\/beware-the-emergency-avocado-what-does-ultrafast-delivery-really-cost-us\">landed in London<\/a>, along with Zapp, Weezy, Jiffy, GoPuff and Yango Deli.<\/p>\n<p><strong>Ultra-fast delivery had been seeing an ultra-fast boom: <\/strong>As of November 2021, investors had <a href=\"https:\/\/www.marketplace.org\/2021\/11\/26\/the-super-fast-delivery-market-is-booming\/\">poured more than USD 14 bn<\/a> into ultra-fast grocery delivery apps since the start of the pandemic. In the first three months of 2021, more VC investment went into ultra-fast grocery delivery services than in the whole of 2020. As of April last year, the market was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/decbfd0a-1a16-44dd-b2b4-f31b83f1da48\">valued at almost USD 1 tn<\/a> in the US and more than EUR 2 tn in Europe.<\/p>\n<p><strong>In Egypt, the model took off immediately: <\/strong>Egypt\u2019s ultra-fast grocery delivery startup <a href=\"https:\/\/www.rabbitmart.com\/\">Rabbit<\/a>, which launched in mid-October 2021, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cbb47824-e06f-4681-b071-23b218f03bcb\">raised USD 11 mn<\/a> in a pre-seed VC funding round in November \u2014 reportedly the largest-ever pre-seed round in the Middle East and Africa. The company, which guarantees delivery in 20 minutes or less, is currently operating across Cairo, Sheikh Zayed and New Cairo, and is targeting six-figure order volumes each month.<\/p>\n<p><strong>Rabbit\u2019s founders see a huge market for fast and reliable delivery in Egypt, and in time could branch out beyond groceries,<\/strong> they <a href=\"https:\/\/techcrunch.com\/2021\/11\/09\/rabbit-a-20-minute-convenience-delivery-startup-in-egypt-comes-out-of-stealth-with-11m-pre-seed\/\">told TechCrunch late last year<\/a>. \u201cWhatever the consumer wants in under 20 minutes, we\u2019re going to let the market dictate what we sell. We\u2019re not limiting ourselves as a grocery player,\u201d said co-founder Ahmad Yousry. The company was recruiting for over 100 roles to meet anticipated demand, as of November.<\/p>\n<p><strong>It\u2019s not just Rabbit:<\/strong> Existing Egyptian providers have also started focusing on ultra-fast delivery. <a href=\"https:\/\/www.breadfast.com\/en\/\">Breadfast<\/a>, which secured USD 26 mn in funding in a series A round in early November, is <a href=\"https:\/\/techcrunch.com\/2021\/11\/03\/egypts-breadfast-wants-to-build-gopuff-for-africa-and-middle-east-gets-26m-backing\/\">also targeting<\/a> bringing delivery windows down to 20 minutes. And <a href=\"https:\/\/www.talabat.com\/egypt\">Talabat<\/a>launched its 20-minute Talabat Mart grocery delivery service in March 2021, which <a href=\"https:\/\/www.zawya.com\/en\/press-release\/talabat-mart-expands-to-assiut-h75143kh\">now operates<\/a> in nine governorates \u2014 including Assiut, Zagazig, Ismailia and Port Said, as well as Cairo. As <a href=\"https:\/\/blog.talabat.com\/ar\/women-whove-made-it-to-the-top-in-talabat\/\">of January this year<\/a>, Talabat had already seen a 63% increase in grocery shopping since it launched the service.<\/p>\n<p><strong>Online, on-demand and ultra-fast grocery delivery are all set to keep growing:<\/strong> Market research firm <a href=\"https:\/\/sacra.com\/research\/ultrafast-delivery-online-grocery-market\/\">Sacra expects<\/a> the total volume of online grocery sales (which includes scheduled services offered by HelloFresh and FreshDirect) in the US to hit USD 192 bn by 2025. On-demand grocery delivery (which Sacra defines as delivery services spanning 20 minutes to an hour) spending could comprise a 15% share of that. And spending on ultrafast delivery could represent as much as a third of spending on on-demand online groceries in the US.<\/p>\n<p><strong>Still, Fridge No More and Buyk raise questions about ultra-fast delivery\u2019s profitability: <\/strong>\u201cThe sudden failure of the two startups due to inability to secure capital quickly underscores a more fundamental issue with their businesses,\u201d CNN writes. Some of the startups have no obvious way to become profitable, and end up reliant on VC funding, according to food supply chain consultant Brittain Ladd, who is quoted in the piece. Gorillas isn\u2019t close to becoming profitable either, despite spending hundreds of mns of GBP.<\/p>\n<p><strong>As well as a big question about its ultimate longevity: Is it a flash in the pan, or here to stay? <\/strong>Aside from the issue of how to make a model financially sustainable if drivers are frequently delivering orders as small as a single apple, often with no delivery fees, companies in the sector must grapple with issues that include customer retention, environmental impact, their limited geographical research, and the limited options afforded by dark stores. All of this makes it difficult to gauge whether these apps will be around years into the future.<\/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\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/whats-next\/\">WHAT\u2019S NEXT<\/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=\"545370\" 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\/03\/23\/545370\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545370\" class=\"content-area-description single-story post-545370 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: 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>15 February-15 June (Tuesday-Wednesday): ITIDA\u2019s Technology Innovation and Entrepreneurship Center is organizing the first <a href=\"https:\/\/ent.news\/2022\/3\/ITIDA-Launches-the-First-Metaverse-Hackathon-in-Creativa-Innovation-Hubs-and-Electronics-Labs-across-Egypt.pdf\">Metaverse Hackathon<\/a>.<\/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: Contracts for last two phases of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e2356273-f17c-4a5b-a987-663aab9a2e29\">Egypt\u2019s USD 4.5 bn high-speed rail line<\/a> to be signed.<\/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>Mid-March: Bidding for the construction of Anchorage Investments\u2019 petrochemical complex in the Suez Canal Economic Zone starts.<\/p>\n<p>14 March-30 June: The \u201cEscape to Egypt\u201d exhibition at the <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02TyfzyKQdaqZmXvT1e3FuyPe3vSpn55zshBzfPbVExM3BR7KTZ3Geb6QVSsHa2S5Nl\">Coptic Museum<\/a>, in celebration of its 112th anniversary.<\/p>\n<p>24 March (Thursday): GB Auto Extraordinary General Assembly (<a href=\"https:\/\/ent.news\/2022\/3\/GBAuto-06-03-2022.pdf\">pdf<\/a>).<\/p>\n<p>24 March-1 April: Ahlan Ramadan Supermarket Expo, Cairo International Convention Center.<\/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>28 March (Monday): The court hearing for a case brought by Arabia Investments Holding (AIH) against Peugeot <a href=\"https:\/\/ent.news\/2022\/3\/AIH-lawsuit-Peugeot.pdf\">has been postponed<\/a> until 28 March.<\/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 Meetings<\/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>1 May (Sunday): Suez Canal Authority raises tolls for different vessels.<\/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>3Q2022: Ayady\u2019s consumer financing arm, The Egyptian Company for Consumer Finance Services, to release first financing product.<\/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>Early July: <a href=\"https:\/\/dailynewsegypt.com\/2022\/03\/21\/polands-president-will-visit-egypt-soon-to-consolidate-relations-between-two-countries-polish-ambassador\/\">Polish President to visit Egypt<\/a>.<\/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>August: Work to extend the capacity of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3a67dcca-de16-4313-b330-60fc1a21e6db\">Egypt-Sudan electricity interconnection<\/a> to 300 MW to be completed.<\/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>4-6 November: The <a href=\"https:\/\/www.autotechegypt.com\/en\/home.html\">Autotech<\/a> auto exhibition kicks off at the Cairo International Exhibition and Convention Center.<\/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":545360,"template":"","categories":[],"tags":[],"class_list":["post-545359","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"fd701f00-3f57-44e2-b7a1-0d8128abc1d3","teaser":"","photo_url":"https:\/\/ent.news\/2022\/3\/547.jpeg"},"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>Is the shine fading from ultra-fast delivery startups? 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