{"id":551342,"date":"2022-06-12T13:26:25","date_gmt":"2022-06-12T13:26:25","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=551342"},"modified":"2025-12-15T23:21:26","modified_gmt":"2025-12-15T23:21:26","slug":"first-sovereign-sukuk-issuance-is-still-on-hold","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/first-sovereign-sukuk-issuance-is-still-on-hold\/","title":{"rendered":"First sovereign sukuk issuance is still on hold"},"content":{"rendered":"<section id=\"551344\" 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=\"551344\">\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\/06\/12\/this-evening-our-first-sovereign-sukuk-issuance-is-still-on-hold-us-equities-face-darkening-outlook\/\">\r\n                            THIS EVENING: Our first sovereign sukuk issuance is still on hold + US equities face \u201cdarkening outlook\u201d                        <\/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\/06\/12\/this-evening-our-first-sovereign-sukuk-issuance-is-still-on-hold-us-equities-face-darkening-outlook\/\" 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\/06\/12\/this-evening-our-first-sovereign-sukuk-issuance-is-still-on-hold-us-equities-face-darkening-outlook\/')\">\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\/06\/12\/this-evening-our-first-sovereign-sukuk-issuance-is-still-on-hold-us-equities-face-darkening-outlook\/\">\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: Our first sovereign sukuk issuance is still on hold + US equities face \u201cdarkening outlook\u201d&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/12\/this-evening-our-first-sovereign-sukuk-issuance-is-still-on-hold-us-equities-face-darkening-outlook\/\">\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\/06\/12\/this-evening-our-first-sovereign-sukuk-issuance-is-still-on-hold-us-equities-face-darkening-outlook\/&title=THIS EVENING: Our first sovereign sukuk issuance is still on hold + US equities face \u201cdarkening outlook\u201d\">\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+Our+first+sovereign+sukuk+issuance+is+still+on+hold+%2B+US+equities+face+%E2%80%9Cdarkening+outlook%E2%80%9D+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F12%2Fthis-evening-our-first-sovereign-sukuk-issuance-is-still-on-hold-us-equities-face-darkening-outlook%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\/06\/12\/this-evening-our-first-sovereign-sukuk-issuance-is-still-on-hold-us-equities-face-darkening-outlook\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551344\" class=\"content-area-description single-story post-551344 post type-post status-publish format-standard hentry category-what-were-tracking-tonight tag-capital-markets tag-commodities tag-debt-watch tag-enterprisepm tag-finance-ministry tag-mohamed-maait tag-russia-ukraine-war tag-sukuk 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>Good afternoon, friends. It\u2019s a relatively calm start to the week<\/strong> (especially if you\u2019re comparing to the past few weeks of unrelenting newsflow) \u2014 but we\u2019re not complaining.<\/p>\n<p><strong>THE BIG STORY TODAY<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Our first sovereign sukuk issuance is still on hold as global market conditions continue<\/strong><strong> to be unfavorable for the bond sale<\/strong>, Finance Minister Mohamed Maait told reporters today (<a href=\"https:\/\/www.asharqbusiness.com\/article\/38473\">watch, runtime: 1:51<\/a>). The issuance <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/88126f66-190a-4cdd-a26b-d5ce65a7e762\">was originally expected<\/a> to go to market before the end of the current fiscal year at the end of June, but markets are currently not ideal, Maait said. \u201cWe\u2019re in constant communication with our financial advisors on when would be the best time to go ahead with the sale,\u201d he said. \u201cThere are estimates that the volatility could subside in 3-4 months, but nothing is certain right now.\u201d<\/p>\n<p><strong>THE BIG STORY ABROAD<\/strong><\/p>\n<p><strong>There\u2019s no single story topping headlines in the international business press this<\/strong><strong> afternoon.<\/strong> The Wall Street Journal is leading with the \u201c<a href=\"https:\/\/www.wsj.com\/articles\/earnings-are-under-threat-another-blow-to-sagging-stock-market-11654975316?mod=hp_lead_pos1\">darkening outlook<\/a>\u201d on US equities and <a href=\"https:\/\/www.wsj.com\/articles\/sizzling-prices-complicate-feds-inflation-fighting-strategy-11655026200?mod=hp_lead_pos2\">soaring inflation<\/a>, while Bloomberg\u2019s top story is that Iran could be the <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-12\/iran-tests-new-trade-corridor-to-ship-russian-goods-to-india?srnd=premium-middle-east#xj4y7vzkg\">new trade corridor<\/a> for Russian goods to arrive in India. Meanwhile, Ukraine\u2019s efforts to get its grain shipments out into the world through Poland and Romania are still facing \u201cbottlenecks,\u201d <a href=\"https:\/\/www.reuters.com\/world\/ukraine-grain-exports-via-poland-romania-face-bottlenecks-deputy-foreign-2022-06-12\/\">Reuters<\/a> reports.<\/p>\n<hr class=\"grey-line\">\n<p><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM<\/strong>:<\/p>\n<ul>\n<li><strong>Inflation <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b70644bd-7dfc-4432-9cf7-635290bed657\">rose to a three-year high<\/a><\/strong><strong> in May at 13.5%<\/strong>, but came in lower than expected and even slowed down on a monthly basis.<\/li>\n<li><strong>CIRA could issue Egypt\u2019s first future flow securitized bonds next month:<\/strong> The Financial Regulatory Authority <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f78500b4-13c4-4259-8aa7-be70e7514995\">has approved a program<\/a> that would see EGX-listed private sector education outfit CIRA issue EGP 2 bn of future flow securitized bonds over three years.<\/li>\n<li><strong>The Egyptian Belgian Company has new Saudi owners:<\/strong> Saudi food conglomerate Savola has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a7db77de-8131-4034-a751-9cfa05b11aaa\">signed an agreement<\/a> to acquire 100% of the Egyptian Belgian Company.<\/li>\n<\/ul>\n<p class='web-image-inner'><img decoding=\"async\" data-recalc-dims=\"1\" style='display: block' src=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/Inside-Industry-en-WEB-1600x584-v5-03-1.jpg?ssl=1\" alt='enterprise'><\/p>\n<p><strong>*** It\u2019s Inside Industry day \u2014<\/strong> <strong>your weekly briefing of all things industrial in Egypt.<\/strong> Inside Industry focuses each Sunday on what it takes to turn Egypt into a manufacturing and export powerhouse, ranging from initial investment and planning to product distribution, through to land allocation to industrial processes, supply chain management, labor, automation and technology, inputs and exports, regulation and policy.<\/p>\n<p><strong>In today\u2019s issue:<\/strong> Amid a myriad of global and local challenges facing the industrial sector, Enterprise assessed industrial companies\u2019 share performance on the EGX in 1Q 2022 and YTD. What we found is a disappointing stock performance that is at odds with the gains made in their financial statements. This could signal that the pressure on the industrial sector is still to be felt on their top and bottom lines, but investors are taking caution preemptively.<\/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 THIS WEEK- <\/strong><\/p>\n<p><strong>It could be a big week for our gas export ambitions:<\/strong> Hopes will be high this week that Egypt can ink an agreement to increase exports to the EU when EU Commission President Ursula von der Leyen lands in Cairo for talks with President Abdel Fattah El Sisi. According to a <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-03\/eu-egypt-near-gas-supply-deal-in-shift-away-from-russia?sref=mmeFTDW1\">draft document seen by Bloomberg<\/a> earlier this month, the EU is expected to sign an MoU with Egypt and Israel that will see more Israeli gas shipped to Egypt\u2019s LNG facilities where it will be exported across the Mediterranean. The pact could also see the three sides work to curb methane gas emissions, the business information service reported.<\/p>\n<p><strong>The African Export-Import Bank\u2019s (Afreximbank) <\/strong><strong><a href=\"https:\/\/2022.afreximbankevents.com\/en-home\/\">annual meetings<\/a><\/strong><strong> start Wednesday<\/strong> at the new capital\u2019s St. Regis Almasa Hotel. President Abdel Fattah El Sisi, Central Bank of Egypt Governor Tarek Amer, and Afreximbank President Benedict Oramah will give keynote speeches at the event, which will focus primarily on implementing the Africa freetrade agreement that came into force in 2021.<\/p>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>There\u2019s a handful of conferences coming up: <\/strong><\/p>\n<ul>\n<li><strong><a href=\"https:\/\/ent.news\/2022\/5\/ER2FOOD-Event-Agenda-240522.pdf\">The EU-Egypt Sustainable Food Value Chain<\/a><\/strong><strong> conference<\/strong>, which will take place at Grand Nile Tower Hotel this Thursday.<\/li>\n<li><strong><a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/298129062496947\">The Aswan Forum for Sustainable Peace and Development<\/a><\/strong>,will take place in Cairo later this month on 21-22 June (Tuesday-Wednesday).<\/li>\n<li><strong>The <\/strong><strong><a href=\"https:\/\/ent.news\/2022\/6\/Press-Release-The-Big-5-Construct-Egypt-exhibition-returns-in-June-with-the-participation-of-the-Egyptian-Armed-Forces-Engineering-Authority.pdf\">Big 5 Construct Egypt (pdf)<\/a><\/strong><strong> construction industry exhibition <\/strong>runs from 25-27 June at the Egypt International Exhibition Center (EIEC) in Cairo.<\/li>\n<\/ul>\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>Expect a daytime high of 35\u00b0C tomorrow before the mercury falls to 23\u00b0C at night, our favorite weather app tells us.<\/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\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-maait\/\">Mohamed Maait<\/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\/sukuk\/\">sukuk<\/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=\"551345\" 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                            \"\r\n            id=\"551345\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/12\/551345\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551345\" class=\"content-area-description single-story post-551345 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/palmhillsdevelopments.com\/OurDevelopments\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/CLeo-enterprise-1600px-02-1.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/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<section id=\"551346\" 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=\"551346\">\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\/06\/12\/coldplay-in-the-spotlight-for-sustainability-efforts-during-their-world-tour-dutch-startup-lightyear-will-start-rolling-out-the-worlds-first-production-ready-solar-electric-car\/\">\r\n                            Coldplay in the spotlight for sustainability efforts during their world tour + Dutch startup Lightyear will start rolling out the world's first production-ready solar electric car                        <\/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 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data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"421.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/421.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/421.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551346\" class=\"content-area-description single-story post-551346 post type-post status-publish format-standard has-post-thumbnail hentry category-for-your-commute tag-climate tag-coldplay tag-enterprisepm tag-for-your-commute tag-lightyear tag-netherlands tag-solar-electric-cars tag-sustainability wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Coldplay launched an app that aims to reduce fans\u2019 emissions at their concert: <\/strong>The British band released an app earlier this year that rewards fans for taking low-carbon transportation to concerts during the group\u2019s current world tour, reports <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-11\/coldplay-s-climate-app-is-pretty-easy-for-fans-to-game?srnd=premium-middle-east#xj4y7vzkg\">Bloomberg<\/a>. The app allows fans to calculate their estimated carbon emissions based on their mode of transport and are then encouraged to choose a climate-friendly option with the incentive of 10% off Coldplay merchandise. There were 80k downloads of the app during the first leg of the 2022 tour, and <a href=\"https:\/\/sustainability.coldplay.com\/\">the band pledged<\/a> to cut emissions 50% compared to its 2016-2017 shows.<\/p>\n<p><strong>How accurate is the data from the app? <\/strong>Fans could game the app for the promised markdown, since there isn\u2019t a way to verify that fans actually used the method of travel they stated in the app. There\u2019s also the matter that carbon emissions are calculated differently in different countries where the band is touring. Still, it\u2019s a good and creative initiative: Besides its direct effectiveness, it also raises awareness among the band\u2019s following.<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Say hello to solar cars: <\/strong>Dutch startup <a href=\"https:\/\/lightyear.one\/\">Lightyear<\/a> will start rolling out the world's first production-ready solar electric car to customers later this year, the company said in a <a href=\"https:\/\/lightyear.one\/articles\/a-deep-dive-into-lightyear-0-how-far-can-clean-solar-kilometres-take-us?utm_source=twitter&utm_campaign=countdownto0&utm_medium=social&utm_content=introlightyear0\">statement<\/a>. The USD 263k car, dubbed Lightyear 0, promises customers the chance to \u201cdrive for up to two months before you need to think about charging\u201d in the Netherlands, while in sunnier countries like Portugal, it could spend up to seven months without the need to get charged. Lightyear 0, which has a maximum speed of 160km\/h, is set to undergo its first test drives in August, in hopes to start reaching drivers in November. Lightyear 0 has fully embraced its clean and environmentally friendly promise, with a vegan interior and recycled and ethically-sourced materials. The company has more affordable models of its solar car in the pipeline, slated to start production in 2024-2025, which will be in the EUR 30k price range, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-12\/startup-kicks-off-sales-of-265-000-first-solar-electric-car\">Bloomberg<\/a> reports.<\/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\/climate\/\">Climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/coldplay\/\">Coldplay<\/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\/lightyear\/\">Lightyear<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/netherlands\/\">Netherlands<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/solar-electric-cars\/\">solar electric cars<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sustainability\/\">sustainability<\/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 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256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"551349\" 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=\"551349\">\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\/06\/12\/adam-sandlers-new-basketball-dramedy-is-funny-and-heartwarming-omar-khairat-takes-the-stage-at-cairo-opera-house-get-coffee-at-arkans-specialty-bun\/\">\r\n                            Adam Sandler\u2019s new basketball dramedy is funny and heartwarming + Omar Khairat takes the stage at Cairo Opera House + Get coffee at Arkan\u2019s Specialty Bun                        <\/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 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href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/12\/adam-sandlers-new-basketball-dramedy-is-funny-and-heartwarming-omar-khairat-takes-the-stage-at-cairo-opera-house-get-coffee-at-arkans-specialty-bun\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/422.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"551350\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/12\/adam-sandlers-new-basketball-dramedy-is-funny-and-heartwarming-omar-khairat-takes-the-stage-at-cairo-opera-house-get-coffee-at-arkans-specialty-bun\/422-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/422.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"422.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/422.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/422.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551349\" class=\"content-area-description single-story post-551349 post type-post status-publish format-standard has-post-thumbnail hentry category-enterprise-recommends-2 tag-eat-this-tonight tag-enterprise-recommends tag-enterprisepm tag-on-the-tube-tonight 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><br \/> (all times CLT)<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Escape our local football drama with a feel-good sports movie: <\/strong><strong><a href=\"https:\/\/www.netflix.com\/eg-en\/title\/80242342\">Hustle<\/a><\/strong><strong>. <\/strong>Adam Sandler\u2019s new basketball dramedy is a funny, heartwarming story that delivers a good time, regardless of whether or not you can identify a double-dribble. Sandler plays an NBA scout who discovers a raw talent player in Spain, and goes to great lengths to get him into the top professional basketball league in the world, defying traditional rules and the player\u2019s checkered past. It\u2019s an inspiring underdog story that will have you rooting for the two heroes, while enjoying Sandler's signature sense of humor along the way.<\/p>\n<p>\u26bd <strong>UEFA Nations League:<\/strong> Spain will play against Czech Republic at 8:45 pm, and Switzerland will face Portugal at the same time.<\/p>\n<p><strong>Egypt Cup:<\/strong> Al-Ahly will face Masri Al-Salloum at 9pm in the round of 32, while Port Said\u2019s Al-Masry will face Al-Mansoura at 6:30pm<\/p>\n<p><strong>\u2615 DRINK THIS TONIGHT- <\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Good coffee is more than a beverage, it\u2019s an experience, and the <\/strong><strong><a href=\"https:\/\/www.instagram.com\/specialtybun\/?hl=en\">Specialty Bun<\/a><\/strong><strong> knows it.<\/strong> Nestled in Arkan Plaza\u2019s extension, Specialty Bun\u2019s hand crafted caffeine cups are certain to elevate the quality of your day. Their menu includes coffee in various shapes and forms: Black, white, pour over, hot, iced\u2026 you name it. They also offer an exceptional Chai Latte \u2014 we savored their hot mug, but as the scorching summer kicks off, the iced glass is probably a better option. Their brewery opens at 7am every day, which is perfect for an early-morning pick-up for fellow early risers.<\/p>\n<p>? <strong>OUT AND ABOUT-<\/strong><br \/> (all times CLT)<\/p>\n<p><strong>Two enchanting musical nights kick off tomorrow at the <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/321248930204278\/321248936870944\/\">Cairo Opera House<\/a><\/strong><strong> with the<\/strong><strong> renowned musician Omar Khairat and his brilliant orchestra.<\/strong> The artists will performing two shows at the open-air Fountain Theater on Monday and Tuesday at 8 pm<\/p>\n<p><strong>? UNDER THE LAMPLIGHT-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>What happens if the entire Earth goes off grid?<\/strong> <a href=\"https:\/\/www.amazon.com\/Aurora-Novel-David-Koepp\/dp\/0062916475?&linkCode=sl1&tag=0610junebooks-20&linkId=bfb402ca0c5d6b6c0a190162258420c4&language=en_US&ref_=as_li_ss_tl\">Aurora<\/a> is a dystopian thriller where a solar storm causes most of the world to lose power, and the laws of survival kick in. Written by acclaimed screenwriter David Koepp \u2014 whose portfolio includes the first two <a href=\"https:\/\/www.imdb.com\/title\/tt0107290\/\">Jurassic Park<\/a> films, <a href=\"https:\/\/www.imdb.com\/title\/tt0117060\/?ref_=nm_knf_t3\">Mission: Impossible<\/a>, and <a href=\"https:\/\/www.imdb.com\/title\/tt0808151\/?ref_=nm_flmg_wr_15\">Angels and Demons<\/a> \u2014 the novel unfolds through the eyes of a suburban family and a tech b\u2019naire struggling to survive the global power outage. The suspenseful page-turner is also a story of triumph, power, and the hope of survival that plays out in a small, scenic, and charming town. The novel is being turned into a major motion picture by Oscar-winning director Kathryn Bigelow, but we highly recommend you read the powerful story before its film version comes to our screens.<\/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\/eat-this-tonight\/\">Eat This Tonight<\/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\/on-the-tube-tonight\/\">On The Tube 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=\"551351\" 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=\"551351\">\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\/06\/12\/market-roundup-on-12-june-2022\/\">\r\n                            Market roundup on 12 June 2022                        <\/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\/06\/12\/market-roundup-on-12-june-2022\/\" 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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Local investors were net buyers. The index is down 15.5% YTD.<\/p>\n<p><strong>In the green: <\/strong>Heliopolis Housing (+5.5%), Madinet Nasr Housing (+2.9%) and Ezz Steel (+1.1%).<\/p>\n<p><strong>In the red: <\/strong>Eastern Company (-4.0%), Abu Qir Fertilizers (-3.3%) and Egypt Kuwait Holding-EGP (-2.7%).<\/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\/egx\/\">EGX<\/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<div class=\"alignfull inside-industry vertical-section wide-section wp-block-group issue-section\" id=\"551352\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27470.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly look at the issues, trends, and policies that are shaping Egypt's manufacturing industries.                <\/p>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Sunday in EnterprisePM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/inside-industry\/\">\r\n                            Read Inside Industry                            \r\n                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">4<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/inside_industry\/industrial-players-see-disappointing-stock-performances-amid-global-uncertainty\/\">  \r\n                            Industrial players see disappointing stock performances amid global uncertainty<\/a>\r\n                        <\/h3>\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\/inside_industry\/industrial-players-see-disappointing-stock-performances-amid-global-uncertainty\/\" 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\/inside_industry\/industrial-players-see-disappointing-stock-performances-amid-global-uncertainty\/')\">\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\/inside_industry\/industrial-players-see-disappointing-stock-performances-amid-global-uncertainty\/\">\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=Industrial players see disappointing stock performances amid global uncertainty&url=https:\/\/enterpriseam.com\/egypt\/inside_industry\/industrial-players-see-disappointing-stock-performances-amid-global-uncertainty\/\">\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\/inside_industry\/industrial-players-see-disappointing-stock-performances-amid-global-uncertainty\/&title=Industrial players see disappointing stock performances amid global uncertainty\">\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=Industrial+players+see+disappointing+stock+performances+amid+global+uncertainty+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Finside_industry%2Findustrial-players-see-disappointing-stock-performances-amid-global-uncertainty%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>                    <\/div>\r\n\r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/inside_industry\/industrial-players-see-disappointing-stock-performances-amid-global-uncertainty\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/424.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"551353\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/inside_industry\/industrial-players-see-disappointing-stock-performances-amid-global-uncertainty\/424-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/424.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"424.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/424.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/424.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-551352\" class=\"content-area-description post-551352 inside_industry type-inside_industry status-publish has-post-thumbnail hentry tag-amoc tag-egx tag-elsewedy-electric tag-enterprise-inside-industry tag-enterprisepm tag-ezz-steel tag-gb-auto tag-oriental-weavers tag-rameda-pharma tag-sidi-kerir-petrochemicals 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-02\"><\/a> <strong>Global trade disruptions, materials shortages, and inflation drive down industrial<\/strong><strong> stocks:<\/strong> Almost all EGX-listed major industrial companies have seen their stock price fall during the first five months of 2022, reversing previous gains after the worst of the covid-19 pandemic had passed. The downturn in these companies\u2019 stock performances came as the war in Ukraine and ensuing global uncertainty pushed investors to quickly exit equity markets as a whole, but particularly impacted industrial players amid trade disruptions, material shortages, and rising prices and costs. Notably, their share performances diverge from their earnings: With the exception of two outliers, industrial companies had stellar earnings during the first quarter of the year.<\/p>\n<p><strong>For the purposes of our analysis, we focus on the top weighted industry stocks on the EGX30:<\/strong> GB Auto, Oriental Weavers, Alexandria Minerals and Oil Company (AMOC), Sidi Kerir Petrochemicals (Sidpec), Ezz Steel, Elsewedy Electric, and Tenth of Ramadan for Pharma Industries and Diagnostic Reagents (Rameda).<\/p>\n<p><strong>Almost all the companies have underperformed the EGX30 so far this year<\/strong>, falling more than EGX30\u2019s YTD return of -15.5%.<\/p>\n<ul>\n<li><a href=\"https:\/\/www.wsj.com\/market-data\/quotes\/eg\/SWDY\">Elsewedy Electric<\/a> fell 24.2% YTD to EGP 7.35.<\/li>\n<li><a href=\"https:\/\/www.wsj.com\/market-data\/quotes\/eg\/AUTO\">GB Auto<\/a> fell 35% YTD to EGP 3.25.<\/li>\n<li><a href=\"http:\/\/ramedapharma-ir.com\/en\/share-information\">Rameda<\/a> fell 12.7% YTD to EGP 2.13.<\/li>\n<li><a href=\"https:\/\/www.reuters.com\/markets\/companies\/ORWE.CA\/\">Oriental Weavers<\/a> fell 21.4% YTD to EGP 6.77.<\/li>\n<li><a href=\"https:\/\/www.wsj.com\/market-data\/quotes\/EG\/NILX\/ESRS\/advanced-chart\">Ezz Steel<\/a> fell 10.1% YTD to EGP 13.30.<\/li>\n<\/ul>\n<p><strong>The only ones to buck the trend:<\/strong> AMOC and Sidi Kerir kept a tight grip on their stock price, with <a href=\"https:\/\/www.wsj.com\/market-data\/quotes\/EG\/NILX\/AMOC\/historical-prices\">AMOC<\/a>\u2019s stock remaining somewhat flat falling to EGP 3.7 from EGP 3.75 at the beginning of the year while <a href=\"https:\/\/www.wsj.com\/market-data\/quotes\/eg\/skpc\">Sidpec<\/a> actually rose 6.3% YTD to EGP 8.07.<\/p>\n<p><strong>Stock prices are weighed down by the local and global economic environment: <\/strong>Performance has been weak YTD due to the higher cost of equity in Egypt on the back of the two <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7a2b0a89-0a42-47b7-8172-cdf8ce1d8729\">interest rate hikes<\/a> enacted by the Central Bank of Egypt to offset inflation, explains Arqaam Capital Associate Director Nour El Din Sherif. Annual urban inflation <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b70644bd-7dfc-4432-9cf7-635290bed657\">accelerated<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b70644bd-7dfc-4432-9cf7-635290bed657\">to 13.5%<\/a> in May, as rising global commodity prices and the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d34fde27-bb5d-4393-8c4d-b149d636663d\">recent EGP devaluation<\/a> pushed consumer prices upwards for the sixth consecutive month. Investor sentiment has also been dampened by concerns of a slowdown in global growth amid the US Federal Reserve\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce4db9f1-f3dc-4b99-966b-8fd3f4bb5dfc\">monetary tightening<\/a>, lockdowns <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d2b9a26d-c750-4de4-8349-980d843311e3\">in China<\/a>, and the ongoing geopolitical tensions in Europe, he added.<\/p>\n<p><strong>And a long list of other factors: <\/strong>Industrials have also been pressured by higher commodity prices, higher working capital and freight costs, and receivables that are piling up \u2014 all of which are leading to a slowdown in cashflow generation and lower margins, Sherif added. Input cost inflation <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad51f2da-3fef-4dd6-a3a7-6188c4fbede5\">rose in May at its quickest rate<\/a> in six months due to rising commodity prices, a strengthening USD, and import restrictions, S&P Global said.<\/p>\n<p><strong>The stock downturn came despite these companies broadly recording strong financial results in 1Q2022:<\/strong><\/p>\n<ul>\n<li><strong>AMOC\u2019s bottom line rose 143% y-o-y in 1Q2022 to EGP 346.5 mn<\/strong>, according to figures from their <a href=\"https:\/\/finance.amoceg.com\/investor-relations\/financial-reports\/\">website<\/a>. Revenues also jumped 81.5% y-o-y to EGP 5.2 bn.<\/li>\n<li><strong>Rameda reported a 138% y-o-y jump in its net income<\/strong> to EGP 71.8 mn, according to its <a href=\"https:\/\/ent.news\/2022\/5\/Rameda-ER-1Q22-E.pdf\">earnings release (pdf)<\/a>. Rameda\u2019s topline rose 27% y-o-y to EGP 343.1 mn.<\/li>\n<li><strong>Sidpec reported a 65.4% y-o-y rise in its bottomline<\/strong> to EGP 251.07 mn, according to its <a href=\"https:\/\/ent.news\/2022\/6\/%D8%B3%D9%8A%D8%AF%D9%89-%D9%83%D8%B1%D9%8A%D8%B1-%D9%82%D9%88%D8%A7%D8%A6%D9%85-%D9%85%D8%A7%D9%84%D9%8A%D8%A9-31-03-2022.pdf\">financials (pdf)<\/a>. Revenues jumped 61% to EGP 2.11 bn during the quarter.<\/li>\n<li><strong>Elsewedy Electric\u2019s net income was up 9% y-o-y<\/strong> to EGP 760.9 mn, according to the company\u2019s latest <a href=\"https:\/\/ent.news\/2022\/5\/Elsewedy-Electric-ER-1Q2022-En-.pdf\">earnings release (pdf)<\/a>, although the company was hit by shortages in raw materials and cargo ships. Revenues rose 51% y-o-y to EGP 18.6 bn.<\/li>\n<li><strong>Ezz Steel\u2019s bottom line rose 2.4% y-o-y<\/strong> to reach EGP 1.22 bn, according to the <a href=\"https:\/\/ent.news\/2022\/6\/Ezz-Steel-1q2022.pdf\">company\u2019s financials (pdf)<\/a>a. The metal producer saw its revenues increase 38.1% y-o-y to EGP 18.64 bn.<\/li>\n<\/ul>\n<p><strong>GB Auto is one of the outliers:<\/strong> GB Auto\u2019s net income slid 23% y-o-y to EGP 229.4 mn, the company said in its latest <a href=\"https:\/\/ent.news\/2022\/5\/GB-Auto-ER-1Q22-E-FINAL.pdf\">earnings release (pdf)<\/a>, blaming an EGP 211 mn foreign exchange loss following the EGP devaluation in March. Revenues rose 15% y-o-y during the quarter to EGP 7.8 bn. GB\u2019s earnings slip comes as the automotive sector is being buffeted by <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/345adc37-b12e-4009-958d-0b59063d4bd7\">a multitude of headwinds<\/a>, including a lack of financing for imports, rising inflation, component shortages and the EGP devaluation in March.<\/p>\n<p><strong>Ditto Orwe as Cost of goods + slowing US purchasing power didn\u2019t do it any favors:<\/strong> Oriental Weavers\u2019 (Orwe) net income fell 24.2% y-o-y to EGP 260.06 mn, according to its <a href=\"https:\/\/ir.orientalweavers.com\/wp-content\/uploads\/2022\/05\/1Q-2022-Earnings-Release-2.pdf\">earnings report (pdf)<\/a>. The company\u2019s sales rose 18.2% y-o-y to reach EGP 3.26 bn. The increase in the company\u2019s cost of goods sold (COGS) outpaced its income growth, as raw material costs (including polypropylene, polyester, latex, and nylon) rose more than the company\u2019s \u201cmultiple price increases.\u201d ORWE\u2019s exports also did little to offset its losses, as its US-based subsidiary\u2019s USD income dropped on the back of delayed shipments from Egypt and lower sales, \u201cas US consumers are impacted by the general economic downfall.\u201d<\/p>\n<p><strong>As for the rest, what gives?<\/strong> One explanation for the difference between earnings and stock performance is that companies\u2019 earnings may have already peaked before normalizing in 2H2022, Sherif believes. Industrial players have been taking advantage of existing inventories and high selling prices to combat the local and global pressures, but things are expected to take a turn for the worse in the second half of the year, he added. Companies like Elsewedy, which have diversified portfolios, are able to offset any margin pressures on the company, with its wires and cables segment bringing in nearly half of its revenues, Mohamed Saad, vice president of research at Prime Securities, told Enterprise.<\/p>\n<p><strong>Any recovery depends on the global uncertainty dissipating<\/strong> as well as commodity prices normalizing and cashflow generation improving, Sherif said. The cost of investing in equity is likely to remain an issue going forward this year, which will put pressure on industrial names, he added.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top industrial development stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Ezz Steel was named the top steelmaker in the MEA region in 2021<\/strong> after manufacturing 5.14 mn tons of the metal during the year, according to a <a href=\"https:\/\/ent.news\/2022\/6\/Ezz-Steel-top-steel-manufacturer.pdf\">press release (pdf)<\/a>.<\/li>\n<li><strong>El Sherif Showroom For Housewares will invest EGP 25 mn <\/strong>in the first phase of its new factory in Minya\u2019s Industrial Zone, CEO Sherif Abdel Moneim was quoted as saying by<a href=\"https:\/\/bit.ly\/3tsCgcn\">Al Borsa<\/a>.<\/li>\n<li><strong>Japan\u2019s Sumitomo is <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cc1bf114-7cbc-4dd3-981d-55f926b15983\">planning to set up<\/a><\/strong><strong> an industrial complex in 10 Ramadan City <\/strong>to produce pigtail cables, with the factory expected to begin operations by the end of 2023.<\/li>\n<li><strong>Tariffs were <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a7e87c52-f3e1-49dd-93ae-3d18b8287074\">reduced<\/a><\/strong><strong> on more than 150 raw materials imports<\/strong> for local manufacturers, with a focus on the automotive industry, in efforts to promote investment, boost exports, and protect local industries.<\/li>\n<li><strong>The Trade Ministry <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6099a051-ae42-4c52-a07f-81f22c30be5b\">has extended<\/a><\/strong><strong> anti-dumping duties on Chinese, Ukrainian and Turkish steel imports<\/strong> for another year, with the decision causing an outcry between the real estate and steel sectors.<\/li>\n<\/ul>\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\/amoc\/\">AMOC<\/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\/elsewedy-electric\/\">Elsewedy Electric<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ezz-steel\/\">Ezz Steel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gb-auto\/\">GB Auto<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/rameda-pharma\/\">Rameda Pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sidi-kerir-petrochemicals\/\">Sidi Kerir Petrochemicals<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"551354\" 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\/06\/12\/551354\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551354\" class=\"content-area-description single-story post-551354 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><strong>OUR CALENDAR APPEARS in two sections: <\/strong><\/p>\n<ul>\n<li><strong>Events with specific dates or months <\/strong>are right here up top<\/li>\n<li><strong>Events happening in a quarter or other range of time <\/strong>with no specific date \/ month appear at the bottom of the calendar.<\/li>\n<\/ul>\n<p><strong>JUNE<\/strong><\/p>\n<p>14-15 June (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>15-18 June (Wednesday- Saturday): <a href=\"https:\/\/2022.afreximbankevents.com\/en-home\/\">Afreximbank annual meetings<\/a>, St. Regis Almasa Hotel, new capital, Egypt.<\/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): <a href=\"https:\/\/ent.news\/2022\/5\/ER2FOOD-Event-Agenda-240522.pdf\">EU-Egypt Sustainable Food Value Chain conference<\/a>, Grand Nile Tower Hotel, Cairo.<\/p>\n<p>16 June (Thursday): End of 2021-2022 academic year for public schools.<\/p>\n<p>21-22 June (Tuesday-Wednesday): <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/298129062496947\">Aswan Forum for Sustainable Peace and Development<\/a>, Cairo.<\/p>\n<p>21-23 June (Tuesday-Thursday): <a href=\"https:\/\/www.cweic.org\/cbf\/rwanda-2022\/\">Commonwealth Business Forum<\/a>, Kigali, Rwanda.<\/p>\n<p>23 June (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>25-27 June (Saturday-Monday): <a href=\"https:\/\/www.thebig5constructegypt.com\/lp\/egypts-first-construction-event-of-the-year\/?utm_source=google&utm_medium=cpc&utm_campaign=S%20%7C%20B%20%7C%20Big%205%20Construct%20Egypt%202022%20%7C%20Visprom&gclid=CjwKCAjwkYGVBhArEiwA4sZLuFPGjHXtn7AtCca0mNtaB726ieUKPUKa_G0f53B_komYEEq81zjnzxoCId4QAvD_BwE\">Big 5 Construct<\/a>, Egypt International Exhibition Center.<\/p>\n<p>26 June (Sunday): The <a href=\"https:\/\/bit.ly\/36oOWst\">deadline for<\/a> private companies to pre-register ahead of bidding for the second phase of the PPP national project to establish and operate 1k language schools.<\/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>30 June (Thursday): Deadline for bids for National Democratic Party HQ redevelopment contract.<\/p>\n<p>June: Egypt will <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/390172846486475\">launch a unified ticketing system<\/a> for all means of transport at the Adly Mansour Interchange Station.<\/p>\n<p>June: Egypt and Israel will <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-03\/eu-egypt-near-gas-supply-deal-in-shift-away-from-russia?sref=mmeFTDW1\">sign an agreement<\/a> with the EU to increase LNG exports.<\/p>\n<p><strong>JULY<\/strong><\/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>July: Actis\u2019 expected sale of its majority stake in Lekela to Infinity and Masdar\u2019s Infinity Power.<\/p>\n<p>First week of July: The national dialogue called for by President Abdel Fattah El Sisi kicks off.<\/p>\n<p>1 July (Friday): FY 2022-2023 begins.<\/p>\n<p>1 July (Friday): Official rollout of e-receipt system 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><strong>AUGUST<\/strong><\/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 600 MW to be completed.<\/p>\n<p>18 August (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p><strong>SEPTEMBER<\/strong><\/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>6-9 September (Tuesday-Friday): Gate Travel Expo 2022, El Kobba Palace, Cairo.<\/p>\n<p>8 September (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>18 September (Sunday): Deadline for brokerage firms, asset managers and financial advisors <a href=\"https:\/\/alborsaanews.com\/2022\/04\/06\/1527896\">to register<\/a> with the Egyptian Securities Federation.<\/p>\n<p>20-21 September (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>22 September (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>26\u201327 September (Monday-Tuesday): The <a href=\"https:\/\/www.awieforum.org\/\">Africa Women Innovation and Entrepreneurship Forum (AWIEF)<\/a> at the Cairo Marriott Hotel.<\/p>\n<p><strong>OCTOBER<\/strong><\/p>\n<p>October: Fuel pricing committee meets to decide quarterly fuel prices.<\/p>\n<p>1 October (Saturday): Use of Nafeza <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/381373340699759\">becomes compulsory<\/a> for air freight.<\/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>10-16 October (Monday-Sunday): <a href=\"https:\/\/www.imf.org\/en\/About\/Factsheets\/Annual-Spring-Meetings\">World Bank and IMF annual meetings<\/a> chaired by CBE Governor Tarek Amer, Washington, DC.<\/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><strong>NOVEMBER<\/strong><\/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>3-5 November (Thursday-Saturday): Egypt Fashion Week.<\/p>\n<p>4-6 November (Friday-Sunday): 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 COP27 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><strong>DECEMBER<\/strong><\/p>\n<p>22 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p><strong>JANUARY 2023<\/strong><\/p>\n<p>January 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>MAY 2023<\/strong><\/p>\n<p>22-26 May (Monday-Friday): Egypt <a href=\"https:\/\/www.afdb.org\/en\/news-and-events\/press-releases\/african-development-bank-group-concludes-annual-meetings-governors-endorse-banks-vision-next-10-years-51974#:~:text=The%20new%20Board%20of%20Governors,from%2022%2D26%20May%202023.\">will host<\/a> the African Development Bank (AfDB) annual meetings in Sharm El Sheikh.<\/p>\n<p><strong>EVENTS WITH NO SET DATE <\/strong><\/p>\n<p>2Q2022: The Sovereign Fund of Egypt will invest in two companies in the financial inclusion and non-banking financial services sectors.<\/p>\n<p>End of 2Q2022: The Financial Regulatory Authority\u2019s new Ins. Act should be approved.<\/p>\n<p>End of 2Q2022: Door for bidding for the contract to redevelop the site of the former National Democratic Party HQ to close.<\/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>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 its first financing product.<\/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>2023: Egypt <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/380561820780911\">will host<\/a> the Asian Infrastructure Investment Bank\u2019s Annual Meeting of the Board of Governors in 2023.<\/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":551343,"template":"","categories":[],"tags":[],"class_list":["post-551342","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"8c807880-c966-4eb2-a21e-c7dfd86db24f","teaser":"","photo_url":"https:\/\/ent.news\/2022\/6\/64.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>First sovereign sukuk issuance is still on hold - 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\/first-sovereign-sukuk-issuance-is-still-on-hold\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"First sovereign sukuk issuance is still on hold\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/first-sovereign-sukuk-issuance-is-still-on-hold\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T23:21:26+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/64.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\/first-sovereign-sukuk-issuance-is-still-on-hold\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/first-sovereign-sukuk-issuance-is-still-on-hold\/\",\"name\":\"First sovereign sukuk issuance is still on hold - 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