{"id":551501,"date":"2022-06-22T13:22:01","date_gmt":"2022-06-22T13:22:01","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=551501"},"modified":"2025-12-15T23:24:59","modified_gmt":"2025-12-15T23:24:59","slug":"good-news-bad-news-for-clean-energy","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/good-news-bad-news-for-clean-energy\/","title":{"rendered":"Good news \/ bad news for clean energy"},"content":{"rendered":"<section id=\"551503\" 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=\"551503\">\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\/22\/this-evening-more-investments-coming-our-way-from-ksa-uk-inflation-hit-a-40-year-high-of-9-1-in-may\/\">\r\n                            THIS EVENING: More investments coming our way from KSA + UK inflation hit a 40-year high of 9.1% in May                        <\/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\/22\/this-evening-more-investments-coming-our-way-from-ksa-uk-inflation-hit-a-40-year-high-of-9-1-in-may\/\" 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\/22\/this-evening-more-investments-coming-our-way-from-ksa-uk-inflation-hit-a-40-year-high-of-9-1-in-may\/')\">\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\/22\/this-evening-more-investments-coming-our-way-from-ksa-uk-inflation-hit-a-40-year-high-of-9-1-in-may\/\">\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: More investments coming our way from KSA + UK inflation hit a 40-year high of 9.1% in May&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/22\/this-evening-more-investments-coming-our-way-from-ksa-uk-inflation-hit-a-40-year-high-of-9-1-in-may\/\">\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\/22\/this-evening-more-investments-coming-our-way-from-ksa-uk-inflation-hit-a-40-year-high-of-9-1-in-may\/&title=THIS EVENING: More investments coming our way from KSA + UK inflation hit a 40-year high of 9.1% in May\">\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+More+investments+coming+our+way+from+KSA+%2B+UK+inflation+hit+a+40-year+high+of+9.1%25+in+May+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F22%2Fthis-evening-more-investments-coming-our-way-from-ksa-uk-inflation-hit-a-40-year-high-of-9-1-in-may%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\/22\/this-evening-more-investments-coming-our-way-from-ksa-uk-inflation-hit-a-40-year-high-of-9-1-in-may\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551503\" class=\"content-area-description single-story post-551503 post type-post status-publish format-standard hentry category-what-were-tracking-tonight tag-afghanistan tag-energy tag-enterprisepm tag-europe tag-inflation tag-novoshakhtinsk-refinery tag-russia tag-uk 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, wonderful people.<\/strong> We\u2019re officially in that sweet, sweet slide towards the weekend \u2014 and our reward (or punishment, depending on how you see it) is another busy and interesting news day.<\/p>\n<p><strong>THE BIG STORY TODAY<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>There\u2019s a lot more investments coming from our friends in KSA:<\/strong> A subsidiary of Saudi Arabia\u2019s Fawaz Alhokair Group is planning to invest around USD 135 mn (SAR 500 mn) in a new renewable energy project in Egypt in partnership with our Electricity Ministry, <a href=\"https:\/\/bit.ly\/3Os7uIG\">Al Mal<\/a> reports the subsidiary\u2019s CEO Turki Alhokair as saying. The project, the details of which are still under negotiation, could produce wind power, Alhokair said. Meanwhile, a group of Saudi real estate developers are set to visit Egypt next week to kick the tires on potential fresh investments here, particularly in new cities, <a href=\"https:\/\/bit.ly\/3OyTCN2\">Al Mal<\/a> reports, citing Egyptian Businessmen Association Vice Chairman Fathallah Fawzi.<\/p>\n<p><strong>THE BIG STORIES ABROAD<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>There\u2019s a whole lot happening in the international business press this<\/strong><strong> afternoon.<\/strong> First up is the ongoing energy crisis in Europe, which is getting more time in the spotlight with the International Energy Agency\u2019s (IEA) latest World Investment Report sounding alarms over the need to accelerate investments in clean energy to both address the crisis and global climate pledges, particularly as Russia\u2019s exit from Europe\u2019s energy market \u201ccreates clear openings for non-Russian suppliers.\u201d We have more highlights from the IEA\u2019s report below, in our Commute section. The story is getting ink in <a href=\"https:\/\/www.reuters.com\/business\/energy\/24-trillion-put-into-energy-2022-not-enough-tackle-supply-crunch-iea-2022-06-22\/\">Reuters<\/a> and the <a href=\"https:\/\/www.ft.com\/content\/f7990162-395f-488e-9d23-13f3cce83e24\">Financial Times<\/a>, among others.<\/p>\n<p><strong>Meanwhile, UK inflation <\/strong><strong><a href=\"https:\/\/www.ons.gov.uk\/economy\/inflationandpriceindices\/bulletins\/consumerpriceinflation\/may2022#:~:text=On%20a%20monthly%20basis%2C%20CPIH,up%20from%209.0%25%20in%20April.\">hit a 40-year high<\/a><\/strong><strong> of 9.1% in May <\/strong>as the country continues to struggle with rising global food and energy prices. This comes following another multi-decade high in April, when it sat at 9%. Inflation could rise even more, with the Bank of England saying it could hit 11% later this year when the government raises the cap on domestic energy bills. The story is getting plenty of attention in: <a href=\"https:\/\/www.reuters.com\/markets\/europe\/uk-inflation-hits-91-may-2022-06-22\/\">Reuters<\/a> | <a href=\"https:\/\/www.ft.com\/content\/663ac703-b923-40d1-8b4b-39fac00c8142\">FT<\/a> | <a href=\"https:\/\/www.cnbc.com\/2022\/06\/22\/uk-inflation-hits-new-40-year-high-of-9point1percent-as-food-and-energy-price-surge-persists.html\">CNBC<\/a> | <a href=\"https:\/\/apnews.com\/article\/inflation-prices-consumer-86c72bd6424d616ee32934e440b58aea\">AP<\/a> | <a href=\"https:\/\/www.bbc.com\/news\/business-61891649\">BBC<\/a>.<\/p>\n<p><strong>Also getting digital ink:<\/strong><\/p>\n<ul>\n<li><strong>The death toll from a massive earthquake that hit Afghanistan has surpassed 1k people<\/strong>, while another 1.5k others were injured. The 6.1-magnitude quake is the deadliest to hit Afghanistan in the past two decades (<a href=\"https:\/\/www.bbc.com\/news\/world-asia-61890804\">BBC<\/a> | <a href=\"https:\/\/www.nytimes.com\/live\/2022\/06\/22\/world\/afghanistan-earthquake\">New York Times<\/a> | <a href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/earthquake-magnitude-61-shakes-afghanistan-pakistan-usgs-2022-06-21\/\">Reuters<\/a> | <a href=\"https:\/\/www.independent.co.uk\/asia\/south-asia\/afghanistan-earthquake-death-toll-2022-b2106632.html\">The Independent<\/a> | <a href=\"https:\/\/apnews.com\/article\/afghanistan-earthquakes-bacc4c96b7a07b5d7d397bee9eb9d3c8\">AP<\/a>).<\/li>\n<li><strong>An oil refinery in Russia\u2019s Rostov region caught fire after a drone attack<\/strong> that is believed to be part of Ukraine-backed strikes, reports the <a href=\"https:\/\/www.ft.com\/content\/acf08f11-a8a4-48b6-a880-073eac84d6a1\">FT<\/a> and <a href=\"https:\/\/www.reuters.com\/world\/europe\/fire-broke-out-russias-novoshakhtinsk-oil-refinery-2022-06-22\/\">Reuters<\/a>. The Novoshakhtinsk refinery has suspended operations until the damage is assessed, but no casualties have been reported.<\/li>\n<\/ul>\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 <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/031ecccd-f816-4657-ae61-58d9c32a706d\">signed 14 investment agreements<\/a><\/strong><strong> with Saudi Arabia worth USD 7.7 bn<\/strong> during Crown Prince Mohammed bin Salman\u2019s visit to Cairo yesterday.<\/li>\n<li><strong>MPs give the green light to FY 2022-2023 budget:<\/strong> The House of Representatives <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/90e513ad-9dfd-48ae-959a-72a7cccf5943\">approved in a plenary session<\/a> yesterday the state\u2019s budget for the upcoming fiscal year that begins in July.<\/li>\n<li><strong>\u201cWe are not yet in a recession\u201d<\/strong> despite the World Bank, IMF, and others reducing their expectations for economic growth, <strong>but the risk is very much there<\/strong>, Finance Minister Mohamed Maait said yesterday.<\/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><\/p>\n<p><strong>The Central Bank of Egypt is set to meet tomorrow to review interest rates.<\/strong> The majority of analysts and economists we surveyed in our <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6e0ac5ea-b877-4a5d-83df-de7dfd5a94c9\">customary poll<\/a> expect the central bank\u2019s monetary policy committee to leave rates unchanged.<\/p>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><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.<\/p>\n<p><strong>Amcham AGM next week:<\/strong> Our friends over at Amcham will hold their annual general meeting on Monday 27 June at the St. Regis Cairo Hotel. Finance Minister Mohamed Maait will address the gathering.<\/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>The mercury is heading back to the 40\u00b0C range tomorrow as we\u2019re set to see a few really hot days, our favorite weather app tells us. The temperature will fall to 24\u00b0C at night.<\/p>\n<p><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, and 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.<\/p>\n<p><strong>***<\/strong><\/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\/afghanistan\/\">Afghanistan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/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\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/novoshakhtinsk-refinery\/\">Novoshakhtinsk refinery<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uk\/\">UK<\/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=\"551504\" 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=\"551504\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/22\/551504\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n           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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\/22\/clean-energy-investments-see-slight-improvement-this-year-a-new-app-to-track-uv-radiation-the-biotech-sector-is-in-trouble-amidst-investment-drought\/\">\r\n                            Clean energy investments see slight improvement this year + A new app to track UV radiation + The biotech sector is in trouble amidst investment drought                        <\/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        <!-- 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href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/22\/clean-energy-investments-see-slight-improvement-this-year-a-new-app-to-track-uv-radiation-the-biotech-sector-is-in-trouble-amidst-investment-drought\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/476.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"551506\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/22\/clean-energy-investments-see-slight-improvement-this-year-a-new-app-to-track-uv-radiation-the-biotech-sector-is-in-trouble-amidst-investment-drought\/476-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/476.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"476.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/476.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/476.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551505\" class=\"content-area-description single-story post-551505 post type-post status-publish format-standard has-post-thumbnail hentry category-for-your-commute tag-energy tag-enterprisepm tag-for-your-commute tag-health tag-international-energy-agency tag-world-health-organization 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-05\"><\/a> <strong>The world is still lagging behind on clean energy investments \u2014 but there\u2019s some<\/strong><strong> improvement: <\/strong>Global energy investments are set to rise 8% to USD 2.4 tn this year, with a significant growth in clean energy investments that is offset by a rising reliance on coal, the International Energy Agency\u2019s latest <a href=\"https:\/\/ent.news\/2022\/6\/WorldEnergyInvestment2022.pdf\">World Investment Report (pdf)<\/a> shows. While investments in clean energy account for over three quarters of this year\u2019s growth in energy investments (more than USD 1.4 tn), the IEA still described that as \u201cwell short of what is required to hit international climate goals, but nonetheless an important step in the right direction.\u201d Clean energy spending is also \u201cunevenly distributed,\u201d according to the report, which notes that developed economies and China account for the bulk of investments.<\/p>\n<p><strong>And the ongoing energy crisis could drive coal investments up even further: <\/strong>Coal investments are on course to rise another 10% this year, after rising by the same levels to hit USD 105 bn in 2021, the report says. European countries like Italy, Germany, Austria, and the Netherlands are <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/89f98828-0c3c-47a6-88f2-b0a65a498fc8\">considering a return to coal<\/a> to plug the shortage from Russia\u2019s reduced flows into the continent. The report notes, however, that the energy crisis should not stand in the way of global climate pledges, adding that a \u201cmassive surge in investment to accelerate clean energy transitions\u201d is \u201cthe only lasting solution.\u201d<\/p>\n<p><strong>The European Investment Bank joined in the chorus of voices calling for increased investments in clean energy<\/strong>, particularly in Africa, with Vice President Ambroise Fayolle telling <a href=\"https:\/\/www.reuters.com\/business\/sustainable-business\/investment-african-energy-needed-aid-quitting-russian-supply-eib-2022-06-21\/\">Reuters<\/a> that the European lender will not be funding fossil fuel projects in a bid to safeguard climate goals.<\/p>\n<p><strong>Remember:<\/strong> <strong>Egypt is poised to be one of the EU\u2019s most important allies for energy exports<\/strong>, after it <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/613a0e7e-2a74-4d1b-8b28-0c9660944559\">signed<\/a> a landmark agreement with the EU and Israel to increase exports to the continent last week.<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Just in time for the start of summer: A new app can help you track UV radiation level<\/strong><strong> forecasts<\/strong> to avoid extensive exposure to the ultraviolet rays, said the <a href=\"https:\/\/public.wmo.int\/en\/media\/press-release\/sunsmart-global-uv-app-launched\">World Meteorological Organization<\/a>, which launched the app with the World Health Organization, the United Nations Environment Programme, and the International Labor Organization. \u201cIt highlights time slots when sun protection is required with the aim of helping people around the world know when to use sun protection, in an effort to reduce the global burden of skin cancer and UV-related eye damage.\u201d The app, which relies on \u201cdata from country-level weather and UV measuring stations to provide accurate and location-specific UV Index readings,\u201d is designed to help achieve one of the UN Sustainable Development Goals related to global health and wellbeing.<\/p>\n<p><strong>In a funding drought hitting all sectors, biotech\u2019s fate seems especially dry: <\/strong>US biotech companies are struggling to keep their head above water amid a tight investment market fueled by a worrying global economy, the <a href=\"https:\/\/www.ft.com\/content\/09c3a606-d195-4f41-b69b-83a59c9e4806\">Financial Times<\/a> reports, citing analysts and investment banks. Biotech companies \u2014 who have long and risky development cycles \u2014 are looking less than appealing to investors and even their own backers. This has pushed many listed biotech companies to sign off on \u201cdraconian\u201d agreements to survive such as raising equity at huge valuation reductions, taking out risky loans, monetizing future royalty streams, or looking to big pharma to lend a hand. Over half of listed companies who raised money this quarter had to offer incentives to get the agreement across, the FT found. Meanwhile, others such as <a href=\"https:\/\/www.genocea.com\/\">Genocea<\/a>, which was working on cancer treatments, have been forced to shut down operations in a clear sign that the biotech industry is in a tough predicament.<\/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\/energy\/\">energy<\/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\/health\/\">health<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                      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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 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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-qx8gs0r\" data-v=\"4\" data-block-id=\"qx8gs0r\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-qx8gs0r-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-qx8gs0r-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 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<\/div>\n<\/div>\n<\/section>\n<section id=\"551508\" 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=\"551508\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/22\/551508\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551508\" class=\"content-area-description single-story post-551508 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='#'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/Enterprise-Climate-Teaser-1600.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=\"551509\" 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=\"551509\">\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\/22\/docuseries-explores-techs-influence-in-everything-from-houseplants-to-gaming-when-and-how-to-collaborate-massar-egbari-perform-new-album-tonight\/\">\r\n                            Docuseries explores tech\u2019s influence in everything from houseplants to gaming + When and how to collaborate + Massar Egbari perform new album tonight                        <\/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\/22\/docuseries-explores-techs-influence-in-everything-from-houseplants-to-gaming-when-and-how-to-collaborate-massar-egbari-perform-new-album-tonight\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/477.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"551510\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/22\/docuseries-explores-techs-influence-in-everything-from-houseplants-to-gaming-when-and-how-to-collaborate-massar-egbari-perform-new-album-tonight\/477-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/477.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"477.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/477.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/477.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551509\" class=\"content-area-description single-story post-551509 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>\u201cWill dogs be surfing the internet?\u201d and more theories about how the future will<\/strong><strong> unfold: <\/strong>Netflix and The Verge teamed up to bring <a href=\"https:\/\/www.netflix.com\/eg-en\/title\/81123425\">The Future Of<\/a> docuseries, which consists of episodes that each discuss a certain topic or aspect of our lives and how the future will see it change. Each episode is bite-sized, running at around 20 minutes, with the released episodes looking at dogs, dating, houseplants, gaming, space vacations, and cheeseburgers. A lot of what could drive drastic change is the incorporation of tech into everything in our lives, from using biometric data to find your perfect match to using food tech to reimagine your favorite comfort food. More new episodes will be released next Tuesday, but the topics have yet to be disclosed.<\/p>\n<p>\u26bd <strong>Important matches for the top three Egyptian league teams tonight:<\/strong> El Zamalek, Pyramids, and Al Ahly are playing important matches today, as El Zamalek plays against National Bank and Pyramids against Eastern Company at 7pm. Meanwhile, Al Ahly faces Ghazl Al Mahalla at 9:30pm. El Zamalek is in the lead with 45 points from 21 games, followed by Pyramids with the same number of matches and a difference of two points, and then Al Ahly who played 3 fewer games and scored 41 points.<\/p>\n<p>? <strong>OUT AND ABOUT-<\/strong><br \/> (all times CLT)<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Local music ensemble <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/s\/top-of-the-pops-retro-pop-edit\/695072644901879\/\">BubbleGum Kollective<\/a><\/strong><strong> is playing retro pop at Cairo Jazz<\/strong><strong> Club<\/strong> in Agouza tonight at 8pm.<\/p>\n<p><strong>Meanwhile, <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/s\/massar-egbari-album-launch-ani\/1139205146927479\/\">Massar Egbari<\/a><\/strong><strong> are celebrating the launch of their new album Anis tonight<\/strong> at CJC 610 Sheikh Zayed at 9pm.<\/p>\n<p><strong>? UNDER THE LAMPLIGHT-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>How to collaborate in a purposeful and efficient way: <\/strong>In <a href=\"https:\/\/www.amazon.com\/Beyond-Collaboration-Overload-Smarter-Well-Being\/dp\/164782012X\">Beyond Collaboration<\/a><a href=\"https:\/\/www.amazon.com\/Beyond-Collaboration-Overload-Smarter-Well-Being\/dp\/164782012X\">Overload<\/a>, Rob Cross looks at the idea of collaboration in a workplace and how it has become essential to continuing operations and growing a business. Collaborative work consumes 85% of employees\u2019 time and is slowly inching into all times of the day after the remote work era of the pandemic. The wrong kind of collaboration can hurt employees\u2019 performance, health and overall well-being, argues Cross who instead attempts to show a different approach to teamwork. His strategy outlines when collaboration is necessary and when it isn\u2019t as well as how to motivate and energize others to work together. If put to use, the methods in the book promise to \u201ccoach you to reclaim close to a day a week.\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\/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=\"551511\" 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=\"551511\">\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\/22\/market-roundup-on-22-june-2022\/\">\r\n                            Market roundup on 22 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\/22\/market-roundup-on-22-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(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/06\/22\/market-roundup-on-22-june-2022\/')\">\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\/22\/market-roundup-on-22-june-2022\/\">\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=Market roundup on 22 June 2022&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/22\/market-roundup-on-22-june-2022\/\">\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\/22\/market-roundup-on-22-june-2022\/&title=Market roundup on 22 June 2022\">\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=Market+roundup+on+22+June+2022+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F22%2Fmarket-roundup-on-22-june-2022%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\/22\/market-roundup-on-22-june-2022\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551511\" class=\"content-area-description single-story post-551511 post type-post status-publish format-standard hentry category-go-with-the-flow tag-egx 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>The EGX30 fell 0.9% at today\u2019s close<\/strong> on turnover of EGP 431 mn (48.3% below the 90-day average). Local investors were net buyers. The index is down 19.6% YTD.<\/p>\n<p><strong>In the green: <\/strong>Abu Dhabi Islamic Bank Egypt (+1.2%), Palm Hills Development (+0.7%) and GB Auto (+0.7%).<\/p>\n<p><strong>In the red: <\/strong>Madinet Nasr Housing (-3.2%), Heliopolis Housing (-2.4%) and e-Finance (-2.2%).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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<section id=\"551512\" 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=\"551512\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Finance<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/22\/is-esg-sovereign-debt-next-in-line-for-the-guillotine\/\">\r\n                            Is ESG sovereign debt next in line for the guillotine?                        <\/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\/22\/is-esg-sovereign-debt-next-in-line-for-the-guillotine\/\" 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\/22\/is-esg-sovereign-debt-next-in-line-for-the-guillotine\/')\">\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\/22\/is-esg-sovereign-debt-next-in-line-for-the-guillotine\/\">\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=Is ESG sovereign debt next in line for the guillotine?&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/22\/is-esg-sovereign-debt-next-in-line-for-the-guillotine\/\">\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\/22\/is-esg-sovereign-debt-next-in-line-for-the-guillotine\/&title=Is ESG sovereign debt next in line for the guillotine?\">\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=Is+ESG+sovereign+debt+next+in+line+for+the+guillotine%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F22%2Fis-esg-sovereign-debt-next-in-line-for-the-guillotine%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\/22\/is-esg-sovereign-debt-next-in-line-for-the-guillotine\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/479.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"551513\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/22\/is-esg-sovereign-debt-next-in-line-for-the-guillotine\/479-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/479.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"479.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/479.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/479.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551512\" class=\"content-area-description single-story post-551512 post type-post status-publish format-standard has-post-thumbnail hentry category-finance tag-bonds tag-enterprisepm tag-esg tag-esg-funds tag-finance 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>ESG equities have been under fire \u2014 but ESG bond funds appear more resilient: <\/strong>While some investors have turned their backs on ESG-focused equity funds amid greenwashing criticism, ESG funds that track bonds don\u2019t appear to have been tarred with the same brush.<\/p>\n<p><strong>The difference in performance between ESG equities and bonds has been stark this year: <\/strong>Between January of this year and the end of April, ESG bond funds (spanning both corporate and sovereign debt) saw some USD 7.4 bn in inflows, while non-ESG funds hemorrhaged some USD 168 bn, according to a Bank of America (BoA) report cited by the <a href=\"https:\/\/www.ft.com\/content\/9b9cc5ea-3a7d-4b32-8bda-084c6b6a40f4\">Financial Times<\/a>. By contrast, investments into ESG equity funds <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/579dd543-1ae9-4ca0-863f-66c1460d5bb5\">fell 36% during 1Q 2022<\/a> and further in April \u2014 \u201cthe worst showing since before the pandemic began,\u201d BoA analysts said \u2014 as investors in ESG equities lost faith that asset managers are really investing ethically.<\/p>\n<p><strong>Now ESG ratings agencies are pointing out that when it comes to sovereign debt, investors would do well to pay closer attention to ESG-related risks: <\/strong>Russia has become a cautionary tale, after the value of its sovereign debt plummeted immediately following the invasion of Ukraine. But consulting firm Verisk Maplecroft had identified a mismatch between its listing value and how the country was faring along its ESG metrics (hint: pretty poorly) that predated the war, the FT notes. Investors wouldn\u2019t have ended up out of pocket if they hadn\u2019t been \u201ccomplacent\u201d about the ESG risks inherent in Russian sovereign debt, Verisk argues.<\/p>\n<p><strong>There are a bunch of other bonds investors should be concerned about, Verisk says \u2014 and we\u2019re one of them. <\/strong>Fifteen bond-issuing countries including Egypt, Turkey, Peru, and Nigeria all score worse than Russia on <a href=\"https:\/\/www.maplecroft.com\/insights\/analysis\/beyond-russia-the-sovereign-esg-elephants-in-the-room\/\">Verisk\u2019s ESG metrics<\/a>. Turkey, for example, scores very low because of labor rights problems, food security issues and judicial weakness.<\/p>\n<p><strong>The MENA region doesn\u2019t do well overall:<\/strong> Poor scores for Egypt and Tunisia are \u201cpart of a broader picture across MENA of markets that are persistently poor, or deteriorating, on ESG,\u201d Verisk says.<\/p>\n<p><strong>This isn\u2019t about judging which countries are \u201cethical,\u201d proponents say, but about managing risk and maximizing returns. <\/strong>Verisk says high ESG scores are indicative of higher returns on countries\u2019 sovereign bonds. And even where returns are similar across bonds, those with better ESG credentials present lower volatility, JPMorgan researchers have <a href=\"https:\/\/ent.news\/2022\/6\/fixed-income-sovereigns-and-esg-full-whitepaper.pdf\">found (pdf)<\/a>.<\/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\/bonds\/\">Bonds<\/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\/esg-funds\/\">ESG funds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance\/\">Finance<\/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=\"551514\" 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\/22\/551514\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551514\" class=\"content-area-description single-story post-551514 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>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 (Monday): AmCham annual general meeting, St. Regis Cairo Hotel.<\/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: Eastern Company <a href=\"https:\/\/bit.ly\/3OtEuAv\">meets to decide on prices of its tobacco products<\/a> amid rising production costs and scarcity of raw materials.<\/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: Actis\u2019 expected sale of its majority stake in Lekela to Infinity and Masdar\u2019s Infinity Power.<\/p>\n<p>First week of July: Fuel pricing committee meets to decide quarterly fuel prices.<\/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>August: Sharm El Sheikh will host the African Sumo Championship.<\/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, <a href=\"https:\/\/bit.ly\/3lshDZX\">Naval Power<\/a>.<\/p>\n<p>September: Estate Waves Egypt <a href=\"https:\/\/bit.ly\/3zH4mEK\">real estate exhibition<\/a> through metaverse technology.<\/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>6-18 November (Sunday-Friday): Egypt will host <a href=\"https:\/\/cop27.eg\/\">COP27<\/a> in Sharm El Sheikh.<\/p>\n<p>21 November-18 December (Monday-Sunday): 2022 Fifa World Cup, Qatar.<\/p>\n<p>13-14 December (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>15 December (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p><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: 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":551502,"template":"","categories":[],"tags":[],"class_list":["post-551501","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"ee81294c-280d-40e5-9466-c8b8b91a6ea1","teaser":"","photo_url":"https:\/\/ent.news\/2022\/6\/80.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>Good news \/ bad news for clean energy - 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\/good-news-bad-news-for-clean-energy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Good news \/ bad news for clean energy\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/good-news-bad-news-for-clean-energy\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T23:24:59+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\/80.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\/good-news-bad-news-for-clean-energy\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/good-news-bad-news-for-clean-energy\/\",\"name\":\"Good news \/ bad news for clean energy - 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