{"id":551403,"date":"2022-06-15T13:38:08","date_gmt":"2022-06-15T13:38:08","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=551403"},"modified":"2025-12-15T23:22:44","modified_gmt":"2025-12-15T23:22:44","slug":"retail-investors-think-something-is-fishy-with-esg-funds","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/retail-investors-think-something-is-fishy-with-esg-funds\/","title":{"rendered":"Retail investors think something is fishy with ESG funds."},"content":{"rendered":"<section id=\"551405\" 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=\"551405\">\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\/15\/this-evening-gas-agreement-with-europe-signed-fed-decision-day-amid-crypto-crash-also-ecb-holds-emergency-meeting\/\">\r\n                            THIS EVENING: Gas agreement with Europe signed + Fed decision day amid crypto crash. ALSO: ECB holds emergency meeting.                        <\/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\/15\/this-evening-gas-agreement-with-europe-signed-fed-decision-day-amid-crypto-crash-also-ecb-holds-emergency-meeting\/\" 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\/15\/this-evening-gas-agreement-with-europe-signed-fed-decision-day-amid-crypto-crash-also-ecb-holds-emergency-meeting\/')\">\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\/15\/this-evening-gas-agreement-with-europe-signed-fed-decision-day-amid-crypto-crash-also-ecb-holds-emergency-meeting\/\">\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: Gas agreement with Europe signed + Fed decision day amid crypto crash. ALSO: ECB holds emergency meeting.&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/this-evening-gas-agreement-with-europe-signed-fed-decision-day-amid-crypto-crash-also-ecb-holds-emergency-meeting\/\">\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\/15\/this-evening-gas-agreement-with-europe-signed-fed-decision-day-amid-crypto-crash-also-ecb-holds-emergency-meeting\/&title=THIS EVENING: Gas agreement with Europe signed + Fed decision day amid crypto crash. ALSO: ECB holds emergency meeting.\">\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+Gas+agreement+with+Europe+signed+%2B+Fed+decision+day+amid+crypto+crash.+ALSO%3A+ECB+holds+emergency+meeting.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F15%2Fthis-evening-gas-agreement-with-europe-signed-fed-decision-day-amid-crypto-crash-also-ecb-holds-emergency-meeting%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\/15\/this-evening-gas-agreement-with-europe-signed-fed-decision-day-amid-crypto-crash-also-ecb-holds-emergency-meeting\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551405\" class=\"content-area-description single-story post-551405 post type-post status-publish format-standard hentry category-what-were-tracking-tonight tag-aldar-properties tag-cryptocurrency tag-enterprisepm tag-europe tag-european-central-bank tag-interest-rates tag-israel tag-ma-watch tag-madinet-nasr-housing tag-us-federal-reserve 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>The downpour of news continues today, ladies and gentlemen,<\/strong> and its good news on the domestic front. Apprehension over policymakers and their rate decisions, meanwhile, continue to guide the conversation abroad.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>THE BIG STORIES TODAY-<\/strong><\/p>\n<p><strong>#1- It\u2019s official <\/strong>\u2014 <strong> We\u2019re exporting more gas to Europe:<\/strong> Egypt, Israel and the EU have signed a memorandum of understanding (MoU) to ramp up LNG exports to Europe, as the continent looks to phase out its reliance on Russian gas, according to an Oil Ministry <a href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid033PmTsKLM25FkQMnqXWLAk5J1QBbDaR9DSR4Q5c7r9zSrxvEFiQjE5xK7BZ5tnrazl\">statement<\/a>. The agreement will see Israel send more gas via a pipeline to Egypt\u2019s LNG facilities before exporting it on tankers to European shores. There were no details on how much gas we will be exporting to the continent.<\/p>\n<p><strong>As for funding the expansion of our LNG infrastructure:<\/strong> The EU will also help Egypt and Israel increase gas production and exploration in their territorial waters, the <a href=\"https:\/\/apnews.com\/article\/russia-ukraine-africa-business-israel-middle-east-616eb2f2acb9f17537b5fc61dc898d2e\">Associated Press<\/a> reports, without providing further details.<\/p>\n<p><strong>#2- <\/strong> <strong>Is the UAE\u2019s Aldar eyeing an MNHD acquisition?<\/strong> The UAE\u2019s Aldar Properties is reportedly eyeing an acquisition of a majority stake in EGX-listed real estate developer Madinet Nasr Housing and Development (MNHD), <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-14\/abu-dhabi-s-aldar-mulls-buying-stake-in-egypt-s-medinet-nasr?srnd=premium-middle-east#xj4y7vzkg\">Bloomberg<\/a> reports, citing sources familiar with the matter. Discussions are still at an early stage, the sources said.<\/p>\n<p><strong>Madinet Nasr has yet to receive any formal offers on the matter,<\/strong> it said in a <a href=\"https:\/\/ent.news\/2022\/6\/MNHD-disclosure.pdf\">disclosure to the EGX (pdf)<\/a> today. Madinet Nasr declined to comment when we reached out today.<\/p>\n<p><strong>Shares in the company rose 7.3% to EGP 2.5 per shar<\/strong>e at the close of trading today.<\/p>\n<p><strong>THE BIG STORIES ABROAD- <\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>ECB holds emergency meeting as Fed decision looms: <\/strong>The European Central Bank is holding an emergency meeting right now to discuss <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fb46ba56-9871-43e8-819e-c4323be70846\">sellofs<\/a> of Southern European sovereign bonds on statements that it will take a more hawkish stance in subsequent monetary policy meetings. \u201cThe Governing Council will have an ad hoc meeting on Wednesday to discuss current market conditions,\u201d an ECB spokesman said ahead of the meeting. The spread between yields on 10-year Italian government bonds and those of German bonds (a widely followed metric to Eurozone watchers) fell to 2.2 percentage points today. The Wall Street Journal (<a href=\"https:\/\/www.wsj.com\/articles\/ecb-calls-emergency-meeting-to-address-bond-market-disruption-11655279740\">paywall<\/a>) has the story.<\/p>\n<p><strong>The move appears to have stabilized European stocks<\/strong> with the FTSE 100 gaining 1.31% and the DAX rising 1.29% as of dispatch.<\/p>\n<p><strong>A<\/strong><strong>nd all that before we hear word from the Fed on how it will raise rates:<\/strong> The US Federal Reserve\u2019s Federal Open Market Committee is planning to announce later today on whether it would move rates by 50 bps or 75 bps, with the market pricing in the latter. As <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8cfb6582-fd28-4b15-89e7-dbd5e0fc46a0\">we noted<\/a> this morning, US stocks fell further into a bear market yesterday and the bond sell-off continued as traders awaited the Fed\u2019s decision. The S&P 500 saw its fifth-straight day of losses, ending the day 0.4% in the red and extending its descent further into bear territory.<\/p>\n<p><strong>Our own central bank is due to meet next Thursday, 23 June to discuss rates.<\/strong> Stay tuned for Sunday\u2019s EnterpriseAM to hear what our poll of economists has to say on where the wind will blow.<\/p>\n<p><strong>Meanwhile, BTC is continuing its downward spiral today, falling to a new 18-month low: <\/strong>BTC fell by as much 7.8% today to reach USD 20.3k \u2014 its lowest level since December 2020, reports <a href=\"https:\/\/www.reuters.com\/markets\/currencies\/bitcoin-tumbles-new-18-month-low-2022-06-15\/\">Reuters<\/a>. BTC\u2019s performance this year has been disappointing to say the least, having lost over half of its value YTD. However, this week has seen a particularly bad <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/235a98fc-47fa-451e-80e6-b73214c38a68\">sell-off for the crypto world<\/a>, with BTC losing around 28% since Friday and dragging down several other digital currencies with it. Crypto funds saw outflows of USD 102 mn this past week as investors worry over tighter central bank policy. Meanwhile, crypto companies such as <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/69b823e9-4d7a-4038-a644-30c0c4689375\">Coinbase<\/a>, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bcf60ff9-6280-4d1f-ad52-d13ebaeea5b8\">Binance, and Celsius<\/a> have taken exaggerated steps to try and weather the storm.<\/p>\n<p><strong>Bill Gates<\/strong><strong> once again gave<\/strong><strong> cryptocurrencies and NFTs his stamp of disapproval<\/strong>, basically saying that they\u2019re nothing but a speculative asset with no real value during a climate conference yesterday (<a href=\"https:\/\/twitter.com\/TechCrunch\/status\/1536827913852465152?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1536827913852465152%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Ftechcrunch.com%2F2022%2F06%2F14%2Fbill-gates-on-economic-turbulence-crypto-and-whether-we-can-still-avoid-climate-disaster%2F\">watch, runtime: 00:48<\/a>). \u201cObviously, expensive digital images of monkeys are going to improve the world immensely,\u201d Gates said sarcastically, adding that he isn\u2019t involved with cryptos. This isn\u2019t the first time Gates voices his concerns against cryptos, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/aadd9dc2-2928-49c7-a596-3d493f48babd\">last year he warned against<\/a>BTC volatility\u2019s effect on smaller investors, as well as the environmental impact of energy-intensive bitcoin mining.<\/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>Egypt saw foreign direct investment inflows <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7b9283eb-95ea-474e-9d4a-8cdd9ab331b6\">fall 12%<\/a><\/strong><strong> in 2021<\/strong> but remained the second-largest recipient of FDI in Africa after South Africa.<\/li>\n<li><strong>Sawiris-backed Altus Strategies <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5b557449-7c11-4cfe-ab9a-dcec74c71c99\">is merging<\/a><\/strong><strong> with Toronto-listed gold royalty company Elemental Royalties<\/strong> in an all-stock transaction.<\/li>\n<li><strong>SODIC subsidiary to borrow EGP 600 mn from Ahli United Bank:<\/strong> Ahli United Bank <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2ca6f9bb-5e10-44b4-b232-00461524211c\">has agreed<\/a> to provide SODIC subsidiary Six of October For Development & Real Estate Projects (SOREAL) with a EGP 600 mn discounting facility.<\/li>\n<\/ul>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>FOR TOMORROW- <\/strong><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> takes place at Grand Nile Tower Hotel tomorrow.<\/p>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>The first workshop in the government\u2019s public consultations on its ambitious <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0894c99e-e18e-473e-a869-64812c50988b\">state<\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0894c99e-e18e-473e-a869-64812c50988b\">ownership policy document<\/a><\/strong><strong> begins next Sunday<\/strong>, according to the <a href=\"http:\/\/eparticipation.idsc.gov.eg\/?fbclid=IwAR0roLUuQGFnSW2sa39MgFCj0jUqiG6_A-_Kya6SN4IhBJNhIqbHzMv5wdw\">online platform<\/a> for the consultations. Every Sunday and Tuesday will see workshops on specific industries, starting with an agriculture-focused workshop next Sunday and a food industries-focused workshop on Tuesday. Each Thursday is reserved for workshops with the House of Representatives or the Senate, along with think tanks.<\/p>\n<p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- <\/strong>Expect a daytime high of 38\u00b0C tomorrow and a nighttime low of 22\u00b0C, our favorite tells us.<\/p>\n<p><div class=\"stand-out\"><strong>***<br \/> WE\u2019RE LOOKING FOR SMART, TALENTED PEOPLE to help us build some very cool new things.<\/strong> Today, we run two daily publications, five weekly industry verticals, a monthly newsletter designed to make our readers feel just a bit smarter.<\/p>\n<p><strong>We have tons more in the pipeline \u2014 come help us build new publications.<\/strong> We offer the chance to work in a fast-paced newsroom on a broad range of topics and in a variety of formats. Our goal is simple: <strong>To create value for our growing community of >199k readers by telling stories that matter.<\/strong><\/p>\n<p><strong>We\u2019re looking for editors who want to run publications and teams, editors to help reporters craft stories and talented reporters<\/strong>. Egyptian and foreign nationals alike are welcome to apply. So are job-switchers: If you\u2019re an equities analyst tired of the rat race, we\u2019re a great place to come work.<\/p>\n<p><strong>Apply directly to <\/strong><strong><a href=\"mailto:jobs@enterprisemea.com\">jobs@enterprisemea.com<\/a><\/strong><strong> and mention Patrick in your subject line. <\/strong><\/p>\n<p><strong><a href=\"https:\/\/enterprise.press\/2022\/04\/28\/come-work-us-hiring-reporters-editors-new-existing-products\/\">Or hit this link for more information.<\/a><\/strong> It\u2019s worth it \u2014 trust us.<br \/> <strong>***<\/strong><\/div><\/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\/aldar-properties\/\">Aldar Properties<\/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\/europe\/\">Europe<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/european-central-bank\/\">European Central Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/madinet-nasr-housing\/\">Madinet Nasr Housing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us-federal-reserve\/\">US Federal Reserve<\/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=\"551406\" 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=\"551406\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/551406\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551406\" class=\"content-area-description single-story post-551406 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 decoding=\"async\" data-recalc-dims=\"1\" 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=\"551407\" 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=\"551407\">\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\/15\/will-i-sheep-soon-become-nothing-sheep-esg-funds-arent-as-appealing-as-they-once-were\/\">\r\n                            Will i-Sheep soon become Nothing-Sheep? + ESG funds aren\u2019t as appealing as they once were                        <\/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\/15\/will-i-sheep-soon-become-nothing-sheep-esg-funds-arent-as-appealing-as-they-once-were\/\" 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\/15\/will-i-sheep-soon-become-nothing-sheep-esg-funds-arent-as-appealing-as-they-once-were\/')\">\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\/15\/will-i-sheep-soon-become-nothing-sheep-esg-funds-arent-as-appealing-as-they-once-were\/\">\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=Will i-Sheep soon become Nothing-Sheep? + ESG funds aren\u2019t as appealing as they once were&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/will-i-sheep-soon-become-nothing-sheep-esg-funds-arent-as-appealing-as-they-once-were\/\">\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\/15\/will-i-sheep-soon-become-nothing-sheep-esg-funds-arent-as-appealing-as-they-once-were\/&title=Will i-Sheep soon become Nothing-Sheep? + ESG funds aren\u2019t as appealing as they once were\">\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=Will+i-Sheep+soon+become+Nothing-Sheep%3F+%2B+ESG+funds+aren%E2%80%99t+as+appealing+as+they+once+were+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F15%2Fwill-i-sheep-soon-become-nothing-sheep-esg-funds-arent-as-appealing-as-they-once-were%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\/15\/will-i-sheep-soon-become-nothing-sheep-esg-funds-arent-as-appealing-as-they-once-were\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/442.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"551408\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/will-i-sheep-soon-become-nothing-sheep-esg-funds-arent-as-appealing-as-they-once-were\/442-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/442.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"442.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/442.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/442.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551407\" class=\"content-area-description single-story post-551407 post type-post status-publish format-standard has-post-thumbnail hentry category-for-your-commute tag-carl-pei tag-enterprisepm tag-esg tag-for-your-commute tag-nothing tag-technology 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>Are Apple and Samsung finally getting a competitor on the same level? <\/strong>A consumer electronics startup weirdly called <a href=\"https:\/\/intl.nothing.tech\/\">Nothing<\/a> is emerging in the tech world, promising to deliver a new mobile phone that can compete with the two powerhouses that are Apple and Samsung.<\/p>\n<p><strong>Nothing has so far gathered USD 200 mn in investments from the likes of Alphabet\u2019s <\/strong><strong>venture capital arm,<\/strong> EQT Ventures, and former Apple designer Tony Fadell, reports the <a href=\"https:\/\/www.ft.com\/content\/f5dfddbd-6556-46f3-89f8-09b52395ae56\">Financial Times<\/a>. Nothing\u2019s CEO Carl Pei previously co-founded Chinese smartphone brand OnePlus and now believes \u201cpeople are yearning for something new.\u201d The new company\u2019s first smartphone will be called Phone (1) \u2014 again with the weird naming \u2014 was revealed for the first today. The device has a transparent back to reveal its inner electronics components and runs on the Android operating system.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Retail investors aren\u2019t buying into ESG funds anymore. You can thank greenwashing:<\/strong> ESG funds are not appealing as they once were, with flows significantly slowing. Investments into ESG funds dropped 36% during 1Q2022 and then again in April, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-15\/investors-are-increasingly-skeptical-of-esg-this-is-why?srnd=premium-middle-east#xj4y7vzkg\">Bloomberg<\/a> writes, citing data provided by Morningstar Inc. \u201cIt's the worst showing since before the pandemic began and was followed by another decline in April,\u201d Bank of America analysts reportedly said.<\/p>\n<p><strong>Stretching the definition of ESG is putting them off: <\/strong>While, sure, in the midst of current bear market investments are slowing in general, investors in ESG are losing faith that asset managers are really investing ethically.. \u201cI felt like I\u2019d almost been had because I thought I was buying into the more ethical side of this\u2026 And then you start looking, you\u2019re thinking, why is Facebook in there?\u201d one investor told Bloomberg.<\/p>\n<p><strong>This comes as the SEC looks to crackdown on greenwashing:<\/strong> Last month, it was reported that the US Securities and Exchange Commission (SEC) is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b12f47a5-c057-46d3-8d1c-5cc95a559cf0\">preparing to crack down<\/a> on investment funds that claim to be \u201cESG,\u201d \u201csustainable,\u201d or \u201clow-carbon.\u201d<\/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\/carl-pei\/\">Carl Pei<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/esg\/\">ESG<\/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\/nothing\/\">Nothing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/technology\/\">technology<\/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=\"551409\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240927.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/mashreq.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27486.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Rise every day<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-rmh9xkj\" data-v=\"4\" data-block-id=\"rmh9xkj\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-rmh9xkj-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-rmh9xkj-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240928.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.beltoneholding.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27484.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Where disruption meets success<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-pn2ogkw\" data-v=\"4\" data-block-id=\"pn2ogkw\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-pn2ogkw-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-pn2ogkw-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240936.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/cira.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27480.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Shaping the future of education in Egypt<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 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\r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"551410\" 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=\"551410\">\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\/15\/atlanta-is-a-story-about-humanity-set-in-the-midst-of-the-rap-scene-steve-berrys-the-omega-factor-depicts-a-modern-day-religious-crusade\/\">\r\n                            Atlanta is a story about humanity set in the midst of the rap scene + Steve Berry\u2019s The Omega Factor depicts a modern day religious crusade                        <\/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\/15\/atlanta-is-a-story-about-humanity-set-in-the-midst-of-the-rap-scene-steve-berrys-the-omega-factor-depicts-a-modern-day-religious-crusade\/\" 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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class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/atlanta-is-a-story-about-humanity-set-in-the-midst-of-the-rap-scene-steve-berrys-the-omega-factor-depicts-a-modern-day-religious-crusade\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/443.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"551411\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/atlanta-is-a-story-about-humanity-set-in-the-midst-of-the-rap-scene-steve-berrys-the-omega-factor-depicts-a-modern-day-religious-crusade\/443-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/443.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"443.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/443.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/443.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551410\" class=\"content-area-description single-story post-551410 post type-post status-publish format-standard has-post-thumbnail hentry category-enterprise-recommends-2 tag-enterprise-recommends tag-enterprisepm tag-on-the-tube-tonight tag-sports 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-06\"><\/a> <strong>The surrealist comedy of Donald Glover\u2019s Atlanta: <\/strong>One thing we\u2019ve always appreciated about Donald Glover (aka Childish Gambino) is that he doesn\u2019t try to turn a blind eye to important issues while growing his career. Combine that with a genuine talent for surrealist, dark humor and you have <a href=\"https:\/\/www.apps.disneyplus.com\/eg\/onboarding?ref=%2Fseries%2Fatlanta%2F68sl4qXn1PbA\">Atlanta<\/a> \u2014 which you can find on Disney+. In the show, Earn is a manager to his cousin Alfred (played by Brian Tyree Henry) and tries to bring him to fame in Atlanta\u2019s rap scene. As Alfred\u2019s name (Paperboi) rises in the world, so do the issues the pair (and their crew) face. The supporting characters add a ton to this show and give it an extra depth that is uncommon in many TV shows.<\/p>\n<p><strong>The show channels the absurdity of trying to succeed in a society that pits black people <\/strong><strong>against one another through stigma and economics, <\/strong>with the rap game of Atlanta being the perfect backdrop for this. Atlanta is definitely worth a watch as it seamlessly transitions between heartbreaking and hilarious. There are currently three seasons out and you can watch the trailer for the third season here (<a href=\"https:\/\/www.youtube.com\/watch?v=DDKDLxBZl-U\">watch, runtime: 01:33<\/a>).<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> \u26bd <strong>With the addition of Costa Rica yesterday, the full list of qualified teams for the 2022<\/strong><strong> World Cup is finally here: <\/strong><\/p>\n<ul>\n<li><strong>Group A: <\/strong><\/li>\n<\/ul>\n<p>Qatar - Ecuador - Senegal - The Netherlands<\/p>\n<ul>\n<li><strong>Group B: <\/strong><\/li>\n<\/ul>\n<p>England - Iran - United States - Wales<\/p>\n<ul>\n<li><strong>Group C: <\/strong><\/li>\n<\/ul>\n<p>Argentina - Saudi Arabia - Mexico - Poland<\/p>\n<ul>\n<li><strong>Group D:<\/strong><\/li>\n<\/ul>\n<p>France - Australia - Denmark - Tunisia<\/p>\n<ul>\n<li><strong>Group E<\/strong> (already nicknamed the Group of Death):<\/li>\n<\/ul>\n<p>Spain - Costa Rica - Germany - Japan<\/p>\n<ul>\n<li><strong>Group F:<\/strong><\/li>\n<\/ul>\n<p>Belgium - Canada - Morocco - Croatia<\/p>\n<ul>\n<li><strong>Group G: <\/strong><\/li>\n<\/ul>\n<p>Brazil - Serbia - Switzerland - Cameroon<\/p>\n<ul>\n<li><strong>Group H: <\/strong><\/li>\n<\/ul>\n<p>Portugal - Uruguay - Ghana - South Korea<\/p>\n<p><strong>The first match of the world cup will be Senegal vs. The Netherlands<\/strong> on 21 November at 12pm.<\/p>\n<p><strong>A single match tonight for Al Ahly fans: <\/strong>The red-clad team will face Eastern Company tonight at 9pm in the Egyptian Premier League.<\/p>\n<p>? <strong>OUT AND ABOUT-<\/strong><br \/> (all times CLT)<\/p>\n<p><strong>Zar ensemble Mazaher are doing things differently tonight, <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/s\/mazaher-luis-gimenez-wednesday\/5120155478032391\/\">performing<\/a><\/strong><strong> alongside Luis <\/strong><strong>Gimenez <\/strong>and creating a new mystical collection of sounds. Gimenez is a lecturer and musician who has studied topics such as musical circulation within an Afro-Asian context. The event will take place at Makan Art Space at 8pm.<\/p>\n<p><strong>A <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/s\/%D8%AD%D9%81%D9%84-%D8%A7%D9%84%D8%B9%D9%86%D8%AF%D9%84%D9%8A%D8%A8-%D9%88%D8%B4%D8%A7%D8%AF%D9%8A%D8%A9-%D9%81%D9%89-%D8%A7%D9%84%D8%B3%D8%A7%D9%82%D9%8A%D8%A9\/295696229338314\/\">puppet performance<\/a><\/strong><strong> of Abdel Halim Hafez and Shadia will be on stage tomorrow <\/strong>at El Sawy Culturewheel from 7-9pm.<\/p>\n<p><strong>? UNDER THE LAMPLIGHT-<\/strong><\/p>\n<p><strong>If you\u2019re a fan of The Da Vinci Code, pick up Steve Berry\u2019s <\/strong><strong><a href=\"https:\/\/www.amazon.com\/Omega-Factor-Steve-Berry\/dp\/1538720949\">The Omega Factor<\/a><\/strong><strong>:<\/strong> The book follows UNESCO investigator, Nicholas Lee, as he tracks the history of a piece of art called the Ghent Altarpiece which has been vandalized, dismantled, or stolen 13 times. This leads Lee to wonder what hidden value this art has that makes it such a common target. This line of questioning soon sees him stumble into a bitter conflict that has lasted 2k years. On one side is a secret order of nuns and the guardians of a great truth and on the other is the Vatican, which has wanted for centuries to possess what the nuns guard. When the two sides catch wind of Lee, they try to use his digging to their advantage and he soon is put right in the middle of a modern-day religious crusade.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-recommends\/\">Enterprise Recommends<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/on-the-tube-tonight\/\">On The Tube Tonight<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"551412\" 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=\"551412\">\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\/15\/earnings-watch-arab-dairy\/\">\r\n                            Earnings watch: Arab Dairy                        <\/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\/15\/earnings-watch-arab-dairy\/\" 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\/15\/earnings-watch-arab-dairy\/')\">\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\/15\/earnings-watch-arab-dairy\/\">\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: Arab Dairy&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/earnings-watch-arab-dairy\/\">\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\/15\/earnings-watch-arab-dairy\/&title=Earnings watch: Arab Dairy\">\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+Arab+Dairy+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F15%2Fearnings-watch-arab-dairy%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\/15\/earnings-watch-arab-dairy\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551412\" class=\"content-area-description single-story post-551412 post type-post status-publish format-standard hentry category-go-with-the-flow tag-arab-dairy tag-earnings-watch 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>Arab Dairy saw their bottom line fall 61.9% y-o-y in 1Q2022 to EGP 3.19 mn<\/strong>, according to their <a href=\"https:\/\/ent.news\/2022\/6\/Arab-Dairy-1Q2022-earnigns.pdf\">financials (pdf)<\/a>. The Panda cheese makers also saw their sales decline 23.6% y-o-y during the quarter to EGP 292.8 mn.<\/p>\n<p><strong>MARKET ROUNDUP-<\/strong><\/p>\n<p><strong>The EGX30 fell 0.1% at today\u2019s close<\/strong> on turnover of EGP 813 mn (3.2% above the 90-day average). Foreign investors were net sellers. The index is down 16.6% YTD.<\/p>\n<p><strong>In the green: <\/strong>Madinet Nasr Housing (+7.3%), Qalaa Holdings (+4.2%) and Heliopolis Housing (+3.5%).<\/p>\n<p><strong>In the red: <\/strong>Cleopatra Hospitals (-4.8%), EFG Hermes (-2.2%) and Eastern Company (-2.0%).<\/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\/arab-dairy\/\">Arab Dairy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/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=\"551413\" 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\/15\/551413\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551413\" class=\"content-area-description single-story post-551413 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&ndash;27 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":551404,"template":"","categories":[],"tags":[],"class_list":["post-551403","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"cc49337f-26db-48c1-a255-cebec22d9abd","teaser":"","photo_url":"https:\/\/ent.news\/2022\/6\/70.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>Retail investors think something is fishy with ESG funds. - 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\/retail-investors-think-something-is-fishy-with-esg-funds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Retail investors think something is fishy with ESG funds.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/retail-investors-think-something-is-fishy-with-esg-funds\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T23:22:44+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\/70.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\/retail-investors-think-something-is-fishy-with-esg-funds\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/retail-investors-think-something-is-fishy-with-esg-funds\/\",\"name\":\"Retail investors think something is fishy with ESG funds. - 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