{"id":552459,"date":"2022-09-06T13:23:21","date_gmt":"2022-09-06T13:23:21","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=552459"},"modified":"2025-12-15T23:46:00","modified_gmt":"2025-12-15T23:46:00","slug":"energy-price-caps-are-coming-for-the-uk-eu","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/energy-price-caps-are-coming-for-the-uk-eu\/","title":{"rendered":"Energy price caps are coming for the UK + EU"},"content":{"rendered":"<section id=\"552461\" 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=\"552461\">\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\/09\/06\/this-evening-govt-throws-its-weight-behind-fx-flexibility-liz-truss-gets-to-work\/\">\r\n                            THIS EVENING: Gov\u2019t throws its weight behind FX flexibility + Liz Truss gets to work                        <\/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\/09\/06\/this-evening-govt-throws-its-weight-behind-fx-flexibility-liz-truss-gets-to-work\/\" 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\/09\/06\/this-evening-govt-throws-its-weight-behind-fx-flexibility-liz-truss-gets-to-work\/')\">\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\/09\/06\/this-evening-govt-throws-its-weight-behind-fx-flexibility-liz-truss-gets-to-work\/\">\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: Gov\u2019t throws its weight behind FX flexibility + Liz Truss gets to work&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/this-evening-govt-throws-its-weight-behind-fx-flexibility-liz-truss-gets-to-work\/\">\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\/09\/06\/this-evening-govt-throws-its-weight-behind-fx-flexibility-liz-truss-gets-to-work\/&title=THIS EVENING: Gov\u2019t throws its weight behind FX flexibility + Liz Truss gets to work\">\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+Gov%E2%80%99t+throws+its+weight+behind+FX+flexibility+%2B+Liz+Truss+gets+to+work+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F06%2Fthis-evening-govt-throws-its-weight-behind-fx-flexibility-liz-truss-gets-to-work%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\/09\/06\/this-evening-govt-throws-its-weight-behind-fx-flexibility-liz-truss-gets-to-work\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-552461\" class=\"content-area-description single-story post-552461 post type-post status-publish format-standard hentry category-what-were-tracking-tonight tag-egp tag-energy tag-enterprisepm tag-hala-el-said tag-liz-truss 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>Happy Tuesday, wonderful people.<\/strong> We have an interesting \u2014 albeit not-crazy-busy \u2014 hump day on the home front today.<\/p>\n<p><strong>THE BIG STORY TODAY<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Gov\u2019t is on board for more FX flexibility, El Said says:<\/strong> \u201cWe as a government do agree that a flexible exchange rate is definitely good for the economy,\" Planning Minister Hala El Said told BloombergTV today (<a href=\"https:\/\/www.bloomberg.com\/news\/videos\/2022-09-06\/minister-elsaid-on-egypt-s-economy-video\">watch, runtime: 6:40<\/a>). The government would back further EGP depreciation the minister said, following weeks of speculation that CBE Governor Hassan Abdalla will gradually allow for more flexibility in the EGP exchange rate in a bid to secure new IMF assistance<\/p>\n<p><strong>THE BIG STORY ABROAD<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Newly-minted UK Prime Minister Liz Truss\u2019 first day in office and ongoing energy woes<\/strong><strong> across Europe are leading the conversation<\/strong> in the international business press this afternoon. Truss is currently \u201cfinalizing\u201d a GBP 100 bn package that would place a ceiling on energy prices for households and businesses in a bid to address soaring costs, <a href=\"https:\/\/www.reuters.com\/world\/uk\/liz-truss-replace-boris-johnson-british-pm-tuesday-2022-09-05\/\">Reuters<\/a> and the <a href=\"https:\/\/www.ft.com\/content\/e24b9e99-fa7c-4145-b7aa-01f3594c33b3\">Financial Times<\/a> report. The EU appears to be considering following in Truss\u2019 footsteps, with Brussels reportedly lobbying to impose similar caps on gas prices across the EU, according to the <a href=\"https:\/\/www.ft.com\/content\/49552516-0788-46a1-9c0a-d906fd8d6388\">Financial Times<\/a>. Why is this all so significant? Energy bills in Europe could rise by as much as EUR 2 tn \u201cat their peak early next year,\u201d Goldman Sachs said in a note this week, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-09-06\/goldman-sees-2-trillion-surge-in-europe-energy-bills-by-2023?srnd=premium-europe\">Bloomberg<\/a>.<\/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>Could Telecom Egypt\u2019s stake in Vodafone Egypt be in play?<\/strong> The Qatar Investment Authority (QIA), Saudi Arabia\u2019s Public Investment Fund, and Abu Dhabi\u2019s ADQ <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c348db4f-7247-4ed9-a87a-4020be90920e\">are all eyeing<\/a> part of state-owned landline monopoly Telecom Egypt\u2019s stake in Vodafone Egypt.<\/li>\n<li><strong>Activity in Egypt\u2019s non-oil private sector <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/03f3644f-a7a1-4421-be66-e82e6ea593ce\">contracted at a slower pace<\/a><\/strong><strong> in August<\/strong> on a relative easing of inflationary pressures, with the purchasing managers\u2019 index rising for the second consecutive month.<\/li>\n<li><strong>EGX-listed private sector giant CIB i<\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e5711cc-a47d-4f84-ad2d-56dc7c13422e\">s planning<\/a><\/strong><strong> a multi-bn EGP capital increase<\/strong> that would raise its capital by around a third.<\/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>US climate envoy John Kerry will be in town tomorrow<\/strong> for the <a href=\"https:\/\/egypticf-africanministers.com\/\">Egypt-International<\/a><a href=\"https:\/\/egypticf-africanministers.com\/\"><\/a><a href=\"https:\/\/egypticf-africanministers.com\/\">Cooperation Forum (Egypt-ICF)<\/a>, which runs 7-9 September at Almasa Convention Center in the new administrative capital. The three-day event will bring together global policymakers, ministers, development partners and other participants ahead of COP27 to discuss climate action and green transition, food security, and others with a focus on Africa. <a href=\"https:\/\/egypticf-africanministers.com\/wp-content\/uploads\/2022\/09\/Egypt-ICF-2022-Agenda-September-2-1.pdf\">Check the full agenda here (pdf)<\/a>.<\/p>\n<p><strong>Tourism expo starts tomorrow:<\/strong> The four-day <a href=\"https:\/\/www.gattravelexpo.com\/\">Gate Travel Expo 2022<\/a> starts tomorrow at El Qubba Palace.<\/p>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>Our monthly list of data points<\/strong> to keep your eye on over the next few days and weeks:<\/p>\n<ul>\n<li><strong>Foreign reserves<\/strong> figures for August should be out during the first week of the month.<\/li>\n<li><strong>Inflation figures:<\/strong> Inflation data for August from Capmas will land on Saturday, 10 September. Expect the Central Bank of Egypt to follow up on Sunday, 11 September with its inflation report.<\/li>\n<li><strong>Interest rates:<\/strong> The Central Bank of Egypt\u2019s Monetary Policy Committee meets on Thursday, 22 September to review interest rates.<\/li>\n<\/ul>\n<p><strong>We\u2019re expecting some sort of announcement from the government on how it plans to <\/strong><strong>proceed with its privatization program<\/strong>, according to media comments Finance Minister Mohamed Maait gave last week. This came on the same day as Prime Minister Moustafa Madbouy met with the heads of the EGX and the Financial Regulatory Authority to discuss plans to sell stakes in state-owned enterprises on the bourse.<\/p>\n<p><strong>Support measures coming for local commercial ships?<\/strong> Transport Minister Kamel El Wazir will hold a meeting this week with the maritime transport sector and private shipping companies to discuss ways to boost the commercial fleet, <a href=\"https:\/\/bit.ly\/3REHo6O\">Al Mal<\/a> reports, citing an unnamed source.<\/p>\n<p><strong>GECF to meet ahead of COP:<\/strong> The Gas Exporting Countries Forum (GECF) will hold a virtual coordination meeting in the run-up to COP27 next Thursday, 15 September, it said in a <a href=\"https:\/\/www.gecf.org\/events\/gecf-to-organise-coordination-meeting-drive-collective-solution-ahead-of-cop-27-\">statement<\/a>. The meeting will cover the developments regarding the UN climate change negotiations, it will also see all 19 members exchange views regarding the matter.<\/p>\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- <\/strong>Expect temperatures to rise to 36\u00b0C during the day tomorrow before falling to 24\u00b0C at night, our favorite weather app tells us.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egp\/\">EGP<\/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\/hala-el-said\/\">Hala El Said<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/liz-truss\/\">Liz Truss<\/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=\"552462\" 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=\"552462\">\r\n            \r\n         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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=\"552463\">\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\/09\/06\/how-saudi-arabia-wants-tourists-to-change-the-narrative-on-its-tourism-industry-bill-gates-has-been-unseated-as-the-worlds-third-richest-man\/\">\r\n                            How Saudi Arabia wants tourists to change the narrative on its tourism industry + Bill Gates has been unseated as the world\u2019s third richest man                        <\/a>\r\n                    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class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/how-saudi-arabia-wants-tourists-to-change-the-narrative-on-its-tourism-industry-bill-gates-has-been-unseated-as-the-worlds-third-richest-man\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/466.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"552464\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/how-saudi-arabia-wants-tourists-to-change-the-narrative-on-its-tourism-industry-bill-gates-has-been-unseated-as-the-worlds-third-richest-man\/466-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/466.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"466.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/466.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/466.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-552463\" class=\"content-area-description single-story post-552463 post type-post status-publish format-standard has-post-thumbnail hentry category-for-your-commute tag-enterprisepm tag-for-your-commute tag-gautam-adani tag-saudi-arabia tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>KSA wants more tourists to visit \u2014 and form their own opinions about the kingdom:<\/strong> Saudi Arabia is looking to attract some 55 mn tourists a year by 2030 \u2014 a major leap from the 3.5 mn (without accounting for religious tourists) who visited the country last year \u2014 as part of Crown Prince Mohammed bin Salman\u2019s push to diversify its economy. To that end, the kingdom plans to spend USD 1 tn over the coming decade to help turn itself into a mass-market tourist destination, with projects underway to build resorts and eco-lodges on its Red Sea coast, <a href=\"https:\/\/www.wsj.com\/articles\/saudi-arabia-is-betting-1-trillion-it-can-become-the-next-tourist-hotspot-11662283802?mod=hp_lead_pos4\">Wall Street Journal<\/a> writes. The plans also include the USD 40 bn Diriyah development project \u201cthat has echoes of Colonial Williamsburg plus luxury hotels and Michelin-starred restaurants,\u201d the WSJ says. The kingdom has some work to do to change public perception of its culture and rules, but hopes that by relaxing some of its strictest rules, it can reel in a wider segment of tourists who can, in turn, help drive a change in that perspective. \u201cSaudi has one of the largest gaps between public perception and reality,\u201d Diriyah CEO Jerry Anzarilla said. \u201cWe will welcome people and allow them to make up their own mind.\u201d<\/p>\n<p><strong>Move over Bill Gates, India\u2019s Gautam Adani is now the world\u2019s third richest man:<\/strong> After his net worth nearly doubled to USD 141.4 bn over the past year, the founder of Indian industrial conglomerate <a href=\"https:\/\/www.adani.com\/\">Adani Group<\/a> is now ranked as the third-wealthiest person on the planet, according to the <a href=\"https:\/\/www.bloomberg.com\/billionaires\/profiles\/gautam-s-adani\/\">Bloomberg B\u2019naire Index<\/a>, surpassing Bill Gates and Warren Buffet, and closing in on a level of fortune shared by only Amazon\u2019s Jeff Bezos and Tesla\u2019s Elon Musk. During a year when many capital markets around the world fell apart, Adani Group shares saw a phenomenal increase, with shares of several of Adai\u2019s companies rising by more than 1000% since 2020, according to<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-09-06\/adani-s-rise-to-world-s-third-richest-hinges-on-lofty-valuations?srnd=premium-middle-east#xj4y7vzkg\">Bloomberg<\/a>. The 60-year-old college dropout first tried his luck in the diamond trade in Mumbai in the early 1980s, before switching to coal and ports. He continued to build and expand his empire, which now includes cement, media, data centers, and airports.<\/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\/for-your-commute\/\">FOR YOUR COMMUTE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gautam-adani\/\">Gautam Adani<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n     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   <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\/09\/06\/al-layla-wa-elly-feeha-serves-up-suspense-and-originality-uefa-champions-league-is-back-carb-lovers-like-us-will-love-toastable\/\">\r\n                            Al Layla wa Elly Feeha serves up suspense and originality + UEFA Champions League is back + Carb lovers like us will love Toastable                        <\/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       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class=\"content-area-description single-story post-552466 post type-post status-publish format-standard has-post-thumbnail hentry category-enterprise-recommends-2 tag-eat-this-tonight tag-enterprise-recommends tag-enterprisepm tag-on-the-tube-tonight 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-05\"><\/a> <strong><a href=\"https:\/\/shahid.mbc.net\/en\/series\/Al-Layla-Wa-Elli-Feeha\/series-953268\">Al Layla wa Elly Feeha<\/a><\/strong><strong> brings suspense and an unlikely duo: <\/strong>The new Shahid original production is an eerie thriller that brings together Egyptian actress Zeina and rapper Abyusif in his first acting role \u2014 an odd pairing that was enough to pique our interest. The story centers on Rasha (Zeina), an unhappily-married interior designer, who attends group therapy to work through some mental health issues, where she meets Hatem (Abyusif). Without giving away any spoilers, let\u2019s just say that Rasha\u2019s life suddenly gets turned upside down when a man dies in her home, prompting her to hide the body from her husband, and take actions that put her in danger. The Hany Khalifa-directed miniseries gets props for originality and for keeping us on our toes. A new episode drops every Thursday (<a href=\"https:\/\/www.youtube.com\/watch?v=_hDaj_rjhMY\">watch trailer, runtime 1:00<\/a>).<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> \u26bd<strong> The Champions\u2019 anthem is back: <\/strong>The UEFA Champions League round of 32 kicks off this evening at 6:45pm, with Borussia Dortmund facing FC Copenhagen, and Dinamo Zagreb playing against Chelsea. At 9pm, six more games will kick off: Paris Saint-Germain v Juventus, Sevilla v Man City, Celtic v Real Madrid, Salzburg v Milan, Leipzig v Shakhtar Donetsk, and Benfica v Maccabi Haifa.<\/p>\n<p><strong>? EAT THIS TONIGHT- <\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Break bread and butter at <\/strong><strong><a href=\"https:\/\/www.instagram.com\/toastable.eg\/\">Toastable<\/a><\/strong><strong>: <\/strong>This one\u2019s for fellow carb lovers \u2014 a new spot at New Cairo\u2019s Mivida Compound is upping the city\u2019s bakery game with an outdoor seating area that gives an all-round fresh experience. You can make your own sandwich from a selection of ingredients and your choice of bread (sourdough, ciabatta, or bagels). Their homey Spanish omelet is an ideal breakfast choice and their salmon bouquet offers a unique and tasty salad experience with a fresh zesty dressing. If you\u2019re looking to satisfy your sweet tooth, look no further than their buttery pain perdu, dripping in sauce and served with ice cream.<\/p>\n<p>? <strong>OUT AND ABOUT-<\/strong><br \/> (all times CLT)<\/p>\n<p><strong>Grab your popcorn and head to Zamalek Cinema for a special screening of <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/602278224884103\">Where The<\/a><\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/602278224884103\">Crawdads Sing<\/a><\/strong><strong> at 7pm:<\/strong> The movie is based on the 2018 international best-selling novel by the same name, and it follows the story of a woman who raised herself in the deep South who becomes a suspect in the murder of a man she was formerly involved with.<\/p>\n<p><strong>Egyptian rap fans, you don\u2019t want to miss Room Art Space\u2019s <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/798720061300112\/\">Rap Night<\/a><\/strong><strong> tonight: <\/strong>The New Cairo venue will host performances by up and coming artists from Mcm records starting at 8:30pm.<\/p>\n<p><strong>? UNDER THE LAMPLIGHT-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>A quantum physicist invites us to go through life \u201cscientifically\u201d in <\/strong><strong><a href=\"https:\/\/www.amazon.com\/Joy-Science-Jim-Al-Khalili\/dp\/0691211574\">The Joy of Science<\/a><\/strong><strong>:<\/strong> BBC host Jim Al-Khalili makes a fascinating and illuminating case for why a scientific perspective has helped us grasp the world as it truly is, and how its fundamental ideas may help us all make sense of modern life. By discussing the nature of truth and uncertainty, the role of doubt, the pros and cons of simplification, the value of guarding against bias, and the importance of evidence-based thinking, Al-Khalili demonstrates how the concepts at the heart of the scientific method can help us through the difficult choices we face. In eight brief chapters, this book serves as a mini textbook on critical thinking. Whether you were a physics prodigy in high school or not, this book will make you fall in love with science, acquire a more reasonable viewpoint, and break through the fog of your own preconceptions.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eat-this-tonight\/\">Eat This Tonight<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-recommends\/\">Enterprise Recommends<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/on-the-tube-tonight\/\">On The Tube Tonight<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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=\"552468\" 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=\"552468\">\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\/09\/06\/what-the-markets-are-doing-on-6-september-2022\/\">\r\n                            What the markets are doing on 6 September, 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\/09\/06\/what-the-markets-are-doing-on-6-september-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\/09\/06\/what-the-markets-are-doing-on-6-september-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\/09\/06\/what-the-markets-are-doing-on-6-september-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=What the markets are doing on 6 September, 2022&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/what-the-markets-are-doing-on-6-september-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\/09\/06\/what-the-markets-are-doing-on-6-september-2022\/&title=What the markets are doing on 6 September, 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=What+the+markets+are+doing+on+6+September%2C+2022+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F06%2Fwhat-the-markets-are-doing-on-6-september-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\/09\/06\/what-the-markets-are-doing-on-6-september-2022\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-552468\" class=\"content-area-description single-story post-552468 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 rose 1.5% at today\u2019s close<\/strong> on turnover of EGP 1.90 bn (53.6% above the 90-day average). Local investors were net buyers. The index is down 13.6% YTD.<\/p>\n<p><strong>In the green: <\/strong>Fawry (+7.6%), Elsewedy Electric (+5.0%) and Heliopolis Housing (+4.0%).<\/p>\n<p><strong>In the red: <\/strong>Eastern Company (-1.3%), Rameda (-1.1%) and Telecom Egypt (-1.0%).<\/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\/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=\"552469\" 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=\"552469\">\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\">Founder of the Week<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/meet-our-founder-of-the-week-survv-and-takery-co-founder-ahmed-abouelenin\/\">\r\n                            Meet our founder of the week: Survv and Takery co-founder Ahmed Abouelenin                        <\/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\/09\/06\/meet-our-founder-of-the-week-survv-and-takery-co-founder-ahmed-abouelenin\/\" 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\/09\/06\/meet-our-founder-of-the-week-survv-and-takery-co-founder-ahmed-abouelenin\/')\">\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\/09\/06\/meet-our-founder-of-the-week-survv-and-takery-co-founder-ahmed-abouelenin\/\">\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=Meet our founder of the week: Survv and Takery co-founder Ahmed Abouelenin&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/meet-our-founder-of-the-week-survv-and-takery-co-founder-ahmed-abouelenin\/\">\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\/09\/06\/meet-our-founder-of-the-week-survv-and-takery-co-founder-ahmed-abouelenin\/&title=Meet our founder of the week: Survv and Takery co-founder Ahmed Abouelenin\">\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=Meet+our+founder+of+the+week%3A+Survv+and+Takery+co-founder+Ahmed+Abouelenin+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F06%2Fmeet-our-founder-of-the-week-survv-and-takery-co-founder-ahmed-abouelenin%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\/09\/06\/meet-our-founder-of-the-week-survv-and-takery-co-founder-ahmed-abouelenin\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/468.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"552470\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/meet-our-founder-of-the-week-survv-and-takery-co-founder-ahmed-abouelenin\/468-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/468.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"468.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/468.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/468.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-552469\" class=\"content-area-description single-story post-552469 post type-post status-publish format-standard has-post-thumbnail hentry category-founder-of-the-week tag-ahmed-abouelenin tag-enterprisepm tag-food-and-beverage tag-founder-of-the-week tag-survv 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>OUR FOUNDER OF THE WEEK-<\/strong> Every Tuesday, Founder of the Week looks at how a successful member of Egypt\u2019s startup community got their big break, asks about their experiences running a business, and gets their advice for budding entrepreneurs. Speaking to us this week is Ahmed Abouelenin (<a href=\"https:\/\/eg.linkedin.com\/in\/ahmed-abouelenin-58288b1a4\">LinkedIn<\/a>), co-founder of <a href=\"https:\/\/survv.com\/\">Survv<\/a> and <a href=\"https:\/\/www.takery.co\/\">Takery<\/a>.<\/p>\n<p><strong>We started <\/strong><strong>Survv<\/strong><strong> in 2017 with the goal of digitizing the F&B market in Egypt.<\/strong> We saw that globally there was a huge trend for people ordering at home instead of dining out. This trend has always existed in Egypt \u2014 not just in the F&B sector. From around 1999, you could have anything delivered; groceries delivered from your local store or your laundry.<\/p>\n<p><strong>Delivery was originally an Eastern trend.<\/strong> It started in the East, where employing people isn\u2019t as expensive as in Western countries. It was pretty hard to find someone in 2006-2007 in the US that you can pay to deliver products. We have that need in Egypt and it\u2019s already a consumer habit. When Uber Eats and Postmates appeared in the West they made a dramatic change, disrupting the market.<\/p>\n<p><strong>We had an easier job than those companies: <\/strong>We didn\u2019t have to create a delivery market because it already existed. All we had to do was digitize what was being done, which is a completely different philosophy from most Western companies that entered the Egyptian market.<\/p>\n<p><strong>We started by digitizing the fleet that was on ground. <\/strong>Survv built connections with restaurants, created its own fleet, then started operating as a B2B company. We went to local players that already offered delivery services and we provided them with technology, logistics, and software to help them do what they were already doing, but better.<\/p>\n<p><strong>We didn\u2019t have much competition and we helped fill a gap in the market. <\/strong>We grew dramatically in the first three years without really burning money and scaled up to around 3 mn orders in a very short period of time.<\/p>\n<p><strong>Simultaneously, we were launching Takery<\/strong>, which was the first company specialized in establishing and managing cloud hubs in Egypt. We realized that the last mile problem is not just about a rider delivering something from point A to point B. Most of the vendors we work for need to deliver their orders within 30-40 minutes and they want to be present all around Cairo. And suddenly having a branch or two wasn\u2019t enough, especially after the outbreak of covid-19.<\/p>\n<p><strong>The best part of the job is getting to work with a broad spectrum of different people<\/strong>, from delivery riders to F&B CEOs and multiregional F&B firms and seeing how you could easily give them a tool that could fix lack of communication through a simple application. The idea of being the middleman and knowing that a very easily implemented feature could solve a huge problem for them is always exciting.<\/p>\n<p><strong>The most important KPIs we look at<\/strong> are how much we are growing, how much added value we\u2019re adding on a daily basis to all our partners and profitability.<\/p>\n<p><strong>In the past three months, Takery has raised USD 3 mn<\/strong> from angel investors and Washington-based VC <a href=\"https:\/\/openner.vc\/\">Openner<\/a>. Survv received funding from my own pocket, along with funding from angel investors and Openner. We\u2019re looking to raise more funding for both startups over the coming year or so.<\/p>\n<p><strong>We are currently working to make sure we cover all local needs<\/strong>, but it\u2019s not just about growth, the aim is to have profitable growth. Until we fulfill the local need, I don\u2019t think we have any reason to expand geographically. I believe our product is best suited for Egypt, and I don\u2019t think we\u2019ll be seeing any expansion abroad for the next three years.<\/p>\n<p><strong>My very first startup was a UK-based company called Coin Court. <\/strong>It was a blockchain company and enabled users to buy and sell cryptocurrencies online. I started the company in 2014, scaled it to around 1k-2k orders on a daily basis and then moved back to Egypt.<\/p>\n<p><strong>I was always very attracted to the tech business sector<\/strong> and have always been a tech enthusiast. Ever since the age of 8, I used to make my own platforms, websites and apps.<\/p>\n<p><strong>Being a startup founder may appear to be a lonely journey<\/strong> but I don\u2019t think anyone who\u2019s actually on that journey feels lonely. You\u2019re too deep into what you\u2019re doing, and to me it felt like more of an adventure.<\/p>\n<p><strong>The last book I read was <\/strong><strong><a href=\"https:\/\/www.goodreads.com\/en\/book\/show\/8668197-the-big-red-book\">The Big Red Book<\/a><\/strong><strong> by Rumi. <\/strong>I enjoy poetry, and my main enjoyment is reading. I\u2019m always reading whether it\u2019s news or books.<\/p>\n<p><strong>I always turn to my father when in need of inspiration. <\/strong>He managed to build his own business from the ground up. I also look at successful founders that are in a similar position as I am.<\/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\/ahmed-abouelenin\/\">Ahmed Abouelenin<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food-and-beverage\/\">food and beverage<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/founder-of-the-week\/\">FOUNDER OF THE WEEK<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/survv\/\">Survv<\/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=\"552471\" 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\/09\/06\/552471\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-552471\" class=\"content-area-description single-story post-552471 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>SEPTEMBER<\/strong><\/p>\n<p>September: Central Bank of Egypt\u2019s Innovation and Financial Technology Center to launch incubator for 25 fintech startups.<\/p>\n<p>September: <a href=\"https:\/\/www.facebook.com\/mift.media\/posts\/pfbid034CjQppGScajHW83ktsmyHavSTQRys9Ezbp9KXCNfPg61XwgzSvHVYi7RfHWxsTESl\">Egyptian-German Joint Economic Committee<\/a>.<\/p>\n<p>September: A delegation from Germany\u2019s Aldi will visit Egypt to look at potential investments.<\/p>\n<p>September: Government to launch an <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0QKmVCxurac4PGgrxGiVR7LN5BgQi5aCPpHahEzKda36Q1obcfw1w2P3M7eVm4Tujl\">international promotional campaign<\/a> for Egyptian tourism.<\/p>\n<p>September: Egypt will <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/457255719778187\">host the second edition<\/a>of the Egypt-International Cooperation Forum (ICF).<\/p>\n<p>5-8 September (Monday-Thursday): <a href=\"https:\/\/www.gastechevent.com\/\">Gastech 2022<\/a>, Milan, Italy.<\/p>\n<p>6-9 September (Tuesday-Friday): <a href=\"https:\/\/www.gattravelexpo.com\/\">Gate Travel Expo 2022<\/a>, El Qubba Palace, Cairo.<\/p>\n<p>7-9 September (Wednesday-Friday): Second edition of <a href=\"https:\/\/egypticf-africanministers.com\/\">Egypt-ICF<\/a>at Almasa Convention Center at the New Administrative Capital + African<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid034TbdNfjuu5yHr2NAycih1ggLyA8CPUgnE4AB8MF3SD1Zpv5rTvBmitm7sb4GyiqDl\">Finance Ministers meeting<\/a> to coordinate an African-led position during COP27.<\/p>\n<p>10 September (Saturday): National Dialogue board meeting to name 30 rapporteurs and assistant rapporteurs for 15 political, social and economic subcommittees.<\/p>\n<p>8 September (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>11-13 September (Sunday-Tuesday): <a href=\"https:\/\/ed-forum.org\/\">Environment and Development Forum (EDF)<\/a>, InterContinental City Stars, Cairo.<\/p>\n<p>12-13 September (Monday-Tuesday): Cityscape holds its <a href=\"https:\/\/www.cityscapeegypt.com\/en\/conference-zone\/Conference-Overview.html\">first pre-summit<\/a> ahead of the main annual exhibition.<\/p>\n<p>14 September (Wednesday): Expedition Investments\u2019 MTO for Domty expires.<\/p>\n<p>15 September (Thursday): Deadline for B Investments to respond to Adnoc\u2019s bid for TotalEnergies Egypt.<\/p>\n<p>15 September (Thursday): <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02AWBp1x22cds9iyFD5BqLzZmAeuPYAjEMRAD1qh62r2UtFBKmTG79hZzaMXhwhuE9l\">Deadline to apply<\/a> for the fifth phase of the export subsidy program.<\/p>\n<p>15 September (Thursday): Egypt and UN-led regional climate roundtable ahead of COP27, Beirut, Lebanon.<\/p>\n<p>15 September (Thursday): The <a href=\"https:\/\/hapijournal.com\/?p=204835\">deadline for receiving<\/a> offers for the renovation of the historic Grand Continental Hotel.<\/p>\n<p>15 September (Thursday): The first <a href=\"https:\/\/www.gecf.org\/events\/gecf-to-organise-coordination-meeting-drive-collective-solution-ahead-of-cop-27-\">Gas Exporting Countries Forum<\/a> Coordination Meeting in the Run-up to COP 27.<\/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>19-22 September (Monday-Thursday): EFG Hermes One on One Conference, Dubai.<\/p>\n<p>20 September (Tuesday): Fifth Egypt and UN-led regional climate roundtable ahead of COP27, Geneva, Switzerland.<\/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>22 September (Thursday): Deadline to submit prequalification applications for companies interested in submitting a proposal for sea water desalination projects<\/p>\n<p>25-27 September (Sunday-Tuesday) A delegation of executives at Egyptian real estate companies visit Saudi Arabia to present developers with potential investments in Egypt\u2019s real estate sector.<\/p>\n<p>26\u201327 September (Monday-Tuesday): The <a href=\"https:\/\/www.awieforum.org\/\">Africa Women Innovation and Entrepreneurship Forum (AWIEF)<\/a> at the Cairo Marriott Hotel.<\/p>\n<p>27-29 September (Tuesday-Thursday): <a href=\"https:\/\/invest-renewables.africa\/\">Africa Renewables Investment Summit<\/a> (ARIS), Cape Town, South Africa.<\/p>\n<p>28-29 September (Wednesday-Thursday): The sixth edition of <a href=\"https:\/\/www.events.fintechrobos.com\/\">Arab Pensions and Social Ins. Conference<\/a> in Sharm El Sheikh.<\/p>\n<p><strong>OCTOBER<\/strong><\/p>\n<p>October: House of Representatives reconvenes after summer recess<\/p>\n<p>October: Air Sphinx, EgyptAir\u2019s low-cost subsidiary to <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=25062022&amp;id=06c1fc4b-9551-4f6c-a782-70bdec4b30f0\">commence operations<\/a>.<\/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>1 October (Saturday): Start of 2022-2023 school year.<\/p>\n<p>1 October (Saturday): 2022- 2023 academic year begins for public universities.<\/p>\n<p>4-8 October (Tuesday-Saturday): The Chemical and Fertilizers Export Council of the Trade and Industry Ministry is organizing <a href=\"https:\/\/bit.ly\/3Q6Gkr7\">a trade mission to Kenya<\/a>.<\/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>, Washington, DC.<\/p>\n<p>15 October (Saturday): Cairo Metro will launch a global tender for maintenance work on the power stations and overhead catenary system of Line 1.<\/p>\n<p>16-19 October (Sunday-Wednesday): <a href=\"https:\/\/www.cairowaterweek.eg\/\">Cairo Water Week 2022<\/a>, Nile Ritz Carlton, Cairo.<\/p>\n<p>18-20 October (Tuesday-Thursday): Mediterranean Offshore Conference, Alexandria.<\/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>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): <a href=\"https:\/\/www.autotechegypt.com\/en\/home.html\">Autotech<\/a> auto exhibition, 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>7 November (Monday): The inauguration of the first line of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e2356273-f17c-4a5b-a987-663aab9a2e29\">high-speed rail<\/a>.<\/p>\n<p>7-13 November (Mon-Sun): The International University Sports Federation (FISU) <a href=\"https:\/\/www.worldsquash.org\/2022-fisu-world-university-championship-squash-to-take-place-in-egypt\/\">World University<\/a> Squash Championships, New Giza.<\/p>\n<p>21 November-18 December (Monday-Sunday): 2022 Fifa World Cup, Qatar.<\/p>\n<p><strong>DECEMBER<\/strong><\/p>\n<p>13-14 December (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>13-15 December (Tuesday-Thursday): US-Africa Leaders Summit.<\/p>\n<p>15 December (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>22 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>December: The Sixth of October dry port <a href=\"https:\/\/bit.ly\/3u3uB4u\">will begin operations<\/a>.<\/p>\n<p>December: Egypt to <a href=\"https:\/\/bit.ly\/3bVoWYy\">expand Sudan electricity link capacity<\/a> to 300 MW.<\/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>1 January (Sunday): Residential electricity bills are set to rise as per the government\u2019s <a href=\"https:\/\/ent.news\/2020\/6\/%D8%A7%D9%84%D9%85%D8%A4%D8%AA%D9%85%D8%B1-%D8%A7%D9%84%D8%B5%D8%AD%D9%81%D9%89-%D9%84%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A1-%D9%84%D9%84%D8%AE%D9%85%D8%B3-%D8%B3%D9%86%D9%88%D8%A7%D8%AA-%D8%A7%D9%84%D9%82%D8%A7%D8%AF%D9%85%D8%A9-9-6-2020-1.pdf\">six-year roadmap (pdf)<\/a> to restructure electricity prices by 2025.<\/p>\n<p>7 January (Saturday): Coptic Christmas.<\/p>\n<p>24 January-6 February: The 54th Cairo International Book Fair, Egypt International Exhibition Center<\/p>\n<p>25 January (Wednesday): 25 January revolution anniversary \/ Police Day.<\/p>\n<p>26 January (Thursday): National holiday in observance of 25 January revolution anniversary \/ Police Day.<\/p>\n<p><strong>FEBRUARY 2023<\/strong><\/p>\n<p>11 February (Saturday): Second semester of 2022-2023 academic year begins for public universities.<\/p>\n<p>13-15 February (Monday-Wednesday): The <a href=\"https:\/\/www.egyps.com\/\">Egypt Petroleum Show (Egyps)<\/a>, Egypt International Exhibition Center, Cairo.<\/p>\n<p><strong>MARCH 2023<\/strong><\/p>\n<p>March: 4Q2022 earnings season.<\/p>\n<p>23 March (Wednesday) \u2014 First day of Ramadan (TBC). Maghreb will be at 6:08pm CLT.<\/p>\n<p><strong>APRIL 2023<\/strong><\/p>\n<p>17 April (Monday): Sham El Nessim.<\/p>\n<p>22 April (Saturday): Eid El Fitr (TBC).<\/p>\n<p>25 April (Tuesday): Sinai Liberation Day.<\/p>\n<p>27 April (Thursday): National holiday in observance of Sinai Liberation Day (TBC).<\/p>\n<p>Late April \u2013 15 May: 1Q2023 earnings season.<\/p>\n<p><strong>MAY 2023<\/strong><\/p>\n<p>1 May (Monday): Labor Day.<\/p>\n<p>4 May (Thursday) National holiday in observance of Labor Day (TBC).<\/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>JUNE 2023<\/strong><\/p>\n<p>28 June-2 July (Wednesday-Sunday): Eid El Adha (TBC).<\/p>\n<p>30 June (Friday): June 30 Revolution Day.<\/p>\n<p><strong>JULY 2023<\/strong><\/p>\n<p>18 July (Tuesday): Islamic New Year.<\/p>\n<p>20 July (Thursday): National holiday in observance of Islamic New Year (TBC).<\/p>\n<p>23 July (Sunday): Revolution Day.<\/p>\n<p>27 July (Thursday): National holiday in observance of Revolution Day.<\/p>\n<p>Late July-14 August: 2Q2023 earnings season.<\/p>\n<p><strong>SEPTEMBER 2023<\/strong><\/p>\n<p>26 September (Tuesday): Prophet Muhammad\u2019s birthday (TBC).<\/p>\n<p>28 September (Thursday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/p>\n<p><strong>OCTOBER 2023<\/strong><\/p>\n<p>6 October (Friday): Armed Forces Day.<\/p>\n<p>Late October-14 November: 3Q2023 earnings season.<\/p>\n<p><strong>EVENTS WITH NO SET DATE <\/strong><\/p>\n<p>2H 2022: The inauguration of the Grand Egyptian Museum.<\/p>\n<p>2H 2022: <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>2H 2022: The government will have vaccinated 70% of the population.<\/p>\n<p>3Q 2022: Ayady\u2019s consumer financing arm, The Egyptian Company for Consumer Finance Services, to release its first financing product.<\/p>\n<p>3Q 2022: Swvl to close <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/53e17b15-78b9-421a-81f5-9d3d5ee0227d\">acquisition of<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/53e17b15-78b9-421a-81f5-9d3d5ee0227d\">Urbvan<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/53e17b15-78b9-421a-81f5-9d3d5ee0227d\">Mobility<\/a>.<\/p>\n<p>4Q 2022: Infinity + Africa Finance Corporation to close acquisition of Lekela Power.<\/p>\n<p>4Q 2022: Electricity Ministry to tender six solar projects in Aswan Governorate.<\/p>\n<p>4Q2022: Raya Holding subsidiary Aman and Qalaa Holdings\u2019 Taqa Arabia to launch their fintech company.<\/p>\n<p>End of 2022: Decent Life first phase scheduled for completion.<\/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>1Q 2023: Adnoc Distribution\u2019s acquisition of 50% of TotalEnergies Egypt to close.<\/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":552460,"template":"","categories":[],"tags":[],"class_list":["post-552459","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"345ec0fb-8988-4746-b6c8-bc4126375db5","teaser":"","photo_url":"https:\/\/ent.news\/2022\/9\/54.jpeg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Energy price caps are coming for the UK + EU - 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\/energy-price-caps-are-coming-for-the-uk-eu\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Energy price caps are coming for the UK + EU\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/energy-price-caps-are-coming-for-the-uk-eu\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T23:46:00+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/54.jpeg?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\/energy-price-caps-are-coming-for-the-uk-eu\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/energy-price-caps-are-coming-for-the-uk-eu\/\",\"name\":\"Energy price caps are coming for the UK + EU - 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