{"id":552518,"date":"2022-09-11T13:39:08","date_gmt":"2022-09-11T13:39:08","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=552518"},"modified":"2025-12-15T23:47:15","modified_gmt":"2025-12-15T23:47:15","slug":"luxury-fashion-is-getting-more-sustainable","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/luxury-fashion-is-getting-more-sustainable\/","title":{"rendered":"Luxury fashion is getting more sustainable"},"content":{"rendered":"<section id=\"552520\" 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=\"552520\">\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\/11\/this-evening-e-finance-plans-share-buyback-ukraine-takes-back-kharkiv\/\">\r\n                            THIS EVENING: e-Finance plans share buyback + Ukraine takes back Kharkiv                        <\/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\/11\/this-evening-e-finance-plans-share-buyback-ukraine-takes-back-kharkiv\/\" 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\/11\/this-evening-e-finance-plans-share-buyback-ukraine-takes-back-kharkiv\/')\">\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\/11\/this-evening-e-finance-plans-share-buyback-ukraine-takes-back-kharkiv\/\">\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: e-Finance plans share buyback + Ukraine takes back Kharkiv&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/11\/this-evening-e-finance-plans-share-buyback-ukraine-takes-back-kharkiv\/\">\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\/11\/this-evening-e-finance-plans-share-buyback-ukraine-takes-back-kharkiv\/&title=THIS EVENING: e-Finance plans share buyback + Ukraine takes back Kharkiv\">\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+e-Finance+plans+share+buyback+%2B+Ukraine+takes+back+Kharkiv+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F11%2Fthis-evening-e-finance-plans-share-buyback-ukraine-takes-back-kharkiv%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\/11\/this-evening-e-finance-plans-share-buyback-ukraine-takes-back-kharkiv\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-552520\" class=\"content-area-description single-story post-552520 post type-post status-publish format-standard hentry category-what-were-tracking-tonight tag-capital-markets tag-e-finance tag-enterprisepm tag-queen-elizabeth-ii tag-russia-ukraine-war tag-what-were-tracking-tonight wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Good afternoon, wonderful people.<\/strong> It\u2019s been a whirlwind start to this new workweek here at home, although international headlines appear to be stuck in time with not much happening beyond our borders.<\/p>\n<p><strong>THE BIG STORY TODAY<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>e-Finance plans share buybacks: <\/strong>State-owned fintech firm e-Finance will buy back 5% of its outstanding shares over the next nine months in a bid to \u201csupport the company\u2019s share price\u201d and \u201cstrengthen investors\u2019 confidence in the firm,\u201d the company said in an <a href=\"https:\/\/ent.news\/2022\/9\/%D9%81%D8%A7%D9%8A%D9%86%D8%A7%D9%86%D8%B3-%D9%85%D8%AC%D9%84%D8%B3-11-09-2022.pdf\">EGX disclosure (pdf)<\/a>. The company\u2019s shares closed up 2.8% to reach EGP 15.41.<\/p>\n<p><strong>THE BIG STORY ABROAD<\/strong><\/p>\n<p><strong>The international press is squarely focused on two things, and two things only this<\/strong><strong> afternoon:<\/strong> Queen Elizabeth II\u2019s death and Ukrainian forces\u2019 against Russian soldiers. Ukraine has recaptured Kharkiv from Russian forces, which Ukrainian President Volodymyr Zelensky suggested could be a turning point in the war that has dragged on since late February (<a href=\"https:\/\/www.reuters.com\/world\/europe\/ukraine-forces-advance-north-after-fall-russian-stronghold-2022-09-11\/\">Reuters<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-09-11\/ukraine-s-kharkiv-offensive-pushes-on-as-russian-forces-retreat?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a> | <a href=\"https:\/\/www.cnbc.com\/2022\/09\/11\/russia-gives-up-key-northeast-towns-as-ukrainian-forces-advance.html\">CNBC<\/a>). Meanwhile, we\u2019re getting the play-by-play of the funerary process for the late Queen Elizabeth II courtesy of <a href=\"https:\/\/www.reuters.com\/world\/uk\/queen-elizabeths-coffin-make-slow-journey-edinburgh-2022-09-11\/\">Reuters<\/a> and the <a href=\"https:\/\/www.wsj.com\/articles\/u-k-begins-long-goodbye-to-queen-elizabeth-ii-11662895588\">Wall Street Journal<\/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>Meltdown on Planet Startup:<\/strong> The board of directors of B2B e-commerce startup Capiter <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/899989a6-5cfd-4d45-8b01-8a0bdeb5cbb1\">has fired<\/a> the company\u2019s co-founders \u201ceffective immediately\u201d as social media exploded with allegations of financial impropriety (including embezzlement).<\/li>\n<li><strong>Inflation <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/87690684-aec3-44e4-94d0-51c47f28e208\">accelerated in August<\/a><\/strong><strong> to reach a near-four-year high<\/strong> on the back of higher food and beverage prices.<\/li>\n<li><strong>Domty shareholders will get a little more for selling to Expedition Investments:<\/strong> The Expedition Investments-led consortium bidding to acquire 34% of cheesemaker Domty has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7a63ba68-ee41-491f-8ac1-93b887152970\">upped its offer<\/a> by 10%.<\/li>\n<\/ul>\n<p class='web-image-inner'><img decoding=\"async\" data-recalc-dims=\"1\" style='display: block' src=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/Inside-Industry-en-WEB-1600x584-v5-03-1.jpg?ssl=1\" alt='enterprise'><\/p>\n<p><strong>*** It\u2019s Inside Industry day \u2014<\/strong> <strong>your weekly briefing of all things industrial in Egypt.<\/strong> Inside Industry focuses each Sunday on what it takes to turn Egypt into a manufacturing and export powerhouse, ranging from initial investment and planning to product distribution, through to land allocation to industrial processes, supply chain management, labor, automation and technology, inputs and exports, regulation and policy.<\/p>\n<p><strong>In today\u2019s issue:<\/strong> Industrial companies\u2019 share performances on the EGX30 on a year-to-date basis and in the past five months (since the beginning of 2Q 2022) are once again somewhat at odds with the gains reported in their earnings during the second quarter of the year. While shares in only one of the five companies we\u2019re looking at are in the green YTD, four out of the five companies reported strong earnings in 2Q 2022.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>Our friend Dr. Mahmoud Mohieldin will join the good folks at AmCham<\/strong> for a luncheon tomorrow (Monday, 12 September) from 1-4pm CLT. Dr. Mahmoud will by speaking in his capacity as <a href=\"https:\/\/unfccc.int\/news\/welcoming-the-7th-high-level-climate-action-champion#:~:text=UN%20Climate%20Change%20News%2C%2025,Change%20Conference%20COP26%20in%20Glasgow.\">UN climate change high-level champion for Egypt<\/a>. The special luncheon meeting at the Nile Ritz Carlton is open to AmCham members and their guests. Non-members can <a href=\"https:\/\/www.amcham.org.eg\/events-activities\/events\/online-registration\/1444\">register to watch here<\/a>.<\/p>\n<p><strong>Consoleya and Cairo Angels will host a business meet-up tomorrow<\/strong> focusing on Nigeria\u2019s tech ecosystem and how it compares with Egypt\u2019s startup scene. Tarek Shahin (CI Capital\u2019s chief investment officer), Biola Alabi Media CEO Biola Alabi, and Ibrahim Sagna (Afreximbank\u2019s global head of advisory and capital markets) and take part in a panel discussion moderated by Aly El Shalakany, CEO of the Cairo Angels Syndicate Fund.<\/p>\n<p><strong>Domty deadline day:<\/strong> Shareholders in cheesemaker Domty have until Wednesday to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9b8e0399-0d6a-459b-8d8b-cb9062c57f3a\">sell<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9b8e0399-0d6a-459b-8d8b-cb9062c57f3a\">their shares<\/a> to Expedition Investments, as part of its mandatory tender offer for 34% of the company. Expedition sweetened the deal by upping its offer price by 10% last week, which we cover in more detail in this morning\u2019s news well, below.<\/p>\n<p><strong>B Investments is going to have to make up its mind over TotalEnergies Egypt by <\/strong><strong>Thursday:<\/strong> The private equity player has the right to preempt <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b9feab20-0529-4fc8-b246-002709a00f77\">a bid<\/a> by Abu Dhabi energy giant Adnoc to acquire a 50% stake in the company, which expires on Thursday.<\/p>\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- <\/strong>Temperatures in Cairo will hit 38\u00b0C tomorrow during the day before falling to 23\u00b0C at night, our favorite weather app tells us.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-finance\/\">e-finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/queen-elizabeth-ii\/\">Queen Elizabeth II<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia-ukraine-war\/\">Russia-Ukraine war<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-tonight\/\">WHAT WE\u2019RE TRACKING TONIGHT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"552521\" 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=\"552521\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/11\/552521\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-552521\" class=\"content-area-description single-story post-552521 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/palmhillsdevelopments.com\/OurDevelopments'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/CLeo-enterprise-1600px-02-1.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\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=\"552522\" 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=\"552522\">\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\/11\/crunching-the-numbers-on-uk-eu-energy-subsidy-packages-the-latest-in-mushroom-and-fish-skin-fashion\/\">\r\n                            Crunching the numbers on UK + EU energy subsidy packages + The latest in mushroom and fish-skin fashion                        <\/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\/11\/crunching-the-numbers-on-uk-eu-energy-subsidy-packages-the-latest-in-mushroom-and-fish-skin-fashion\/\" target=\"_blank\">\n                    Open in new tab                    <!-- 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href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/11\/crunching-the-numbers-on-uk-eu-energy-subsidy-packages-the-latest-in-mushroom-and-fish-skin-fashion\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/483.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"552523\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/11\/crunching-the-numbers-on-uk-eu-energy-subsidy-packages-the-latest-in-mushroom-and-fish-skin-fashion\/483-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/483.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"483.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/483.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/483.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-552522\" class=\"content-area-description single-story post-552522 post type-post status-publish format-standard has-post-thumbnail hentry category-for-your-commute tag-energy tag-enterprisepm tag-eu tag-for-your-commute tag-lizz-truss tag-sustainability tag-uk wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>The cost of cushioning Europe\u2019s energy crisis: <\/strong>The governments of the UK and European countries will spend a combined USD 500 bn to subsidize their citizens\u2019 spiraling energy bills as Europe prepares for a winter energy crisis spurred by the loss of Russian fossil fuels to the market. New UK Prime Minister Liz Truss on Thursday <a href=\"https:\/\/www.gov.uk\/government\/news\/government-announces-energy-price-guarantee-for-families-and-businesses-while-urgently-taking-action-to-reform-broken-energy-market#:~:text=From%201st%20October%2C%20a%20new,and%20applies%20to%20all%20households.\">said<\/a> her government would cap energy bills for all households, in a move that could cost the British treasury as much as GBP 150 bn (USD 172 bn), analysts told <a href=\"https:\/\/edition.cnn.com\/2022\/09\/08\/business\/liz-truss-energy-price-cap-europe\/index.html\">CNN<\/a>. The move follows similar policy announcements by the likes of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/891364a1-d1b5-43e9-9b68-37e03031ef41\">Germany<\/a>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-20\/austria-increases-energy-subsidies-to-offset-high-gas-prices#:~:text=Austria%20announced%20energy%20subsidies%20worth,rising%20costs%20on%20the%20economy.\">Austria<\/a>, and other EU member states.<\/p>\n<p><strong>EU ministers announced no concrete steps in a Friday meeting to address rising energy prices<\/strong>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-09-09\/eu-energy-ministers-demand-action-amid-talk-of-broad-price-cap?sref=mmeFTDW1\">Bloomberg<\/a> reports. The ministers called on the EU executive to bring in \u201curgent measures\u201d to bring down sky high gas prices in the markets, but stopped short of implementing mandatory demand reduction steps including a plan to impose price caps on all gas imports. Moscow has threatened to stop even the limited flow of Russian gas that is still making its way to Europe if price caps are imposed.<\/p>\n<p><strong>The US is gearing up for its own Russian oil price cap: <\/strong>The US Treasury has issued a <a href=\"https:\/\/home.treasury.gov\/system\/files\/126\/cap_guidance_20220909.pdf\">rough guide (pdf)<\/a> for the private sector on how to comply with its incoming price cap on Russian oil. The onus will be on private players to make sure any purchases come in at or below a price limit set by the US and G7 members, or face possible sanctions. The cap is set to come in on 5 December for crude oil, and two months later for petroleum products, in line with the <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-09-05\/europe-still-guzzling-russian-oil-with-ban-just-months-away?sref=mmeFTDW1\">EU timeline<\/a> for its full-blown ban of Russian oil.<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Mushroom leather coats and fish-skin sandals: <\/strong>The race to create new sustainable materials is in full swing in the world of luxury fashion, as brands use tech innovations to replace petrochemicals-based synthetics like nylon with more sustainable \u201cfuture fabrics,\u201d the <a href=\"https:\/\/www.ft.com\/content\/0413edbb-dc37-4fc4-955c-22c23fddfe82\">Financial Times<\/a> reports. Luxury brands including Burberry, Balenciaga and Stella McCartney have set up dedicated innovation labs and R&D departments experimenting with new materials, while others are looking to startups bringing innovations like waterless printing to speed up the process. The challenge is to satisfy high-end consumers\u2019 desire for a luxury look and feel, which existing plant-based synthetic fabrics like rayon and viscose don\u2019t provide, designers tell the FT. But high-quality, sustainable materials take time, and a whole lot of trial and error, to bring to the market. \u201cIt takes seven years to get something off the ground,\u201d one materials science exec tells the salmon-colored paper.<\/p>\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\/eu\/\">EU<\/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                          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\r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"552525\" 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=\"552525\">\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\/09\/11\/not-the-romcom-you-were-expecting-english-football-is-on-hold-to-mourn-queen-elizabeth-putting-a-posh-spin-on-your-next-burger-experience-at-char-bar\/\">\r\n                            Not the romcom you were expecting + English football is on hold to mourn Queen Elizabeth + Putting a posh spin on your 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     <\/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\/11\/not-the-romcom-you-were-expecting-english-football-is-on-hold-to-mourn-queen-elizabeth-putting-a-posh-spin-on-your-next-burger-experience-at-char-bar\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/484.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"552526\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/11\/not-the-romcom-you-were-expecting-english-football-is-on-hold-to-mourn-queen-elizabeth-putting-a-posh-spin-on-your-next-burger-experience-at-char-bar\/484-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/484.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"484.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/484.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/484.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-552525\" class=\"content-area-description single-story post-552525 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>The genre-defying <\/strong><strong><a href=\"https:\/\/www.imdb.com\/title\/tt15114768\/\">Wedding Season<\/a><\/strong><strong> begins where most romantic comedies end<\/strong>: A guy (Stefan) barges into a wedding and pleads with the bride-to-be to say no to the groom and flee with him instead. The clich\u00e9s end right then and there, as the bride (Katie), smacks Stefan and rejects him in no uncertain terms. The next morning, the groom and his family are all proclaimed dead \u2014 and Katie and Stefan are the immediate suspects. The new Disney+ original is the ultimate genre-remix: it\u2019s a rom-com action mystery thriller, in which the police think Stefan did it, Stefan thinks it was Katie, and we\u2019re eventually caught up in a cross-border car chase trying to figure out who committed the crime. The season is made up of eight easily-bingeable episodes, with each one lasting about 30 minutes \u2014 though the pilot runs a little longer to set the stage, introduce the characters, and hook us in. (<a href=\"https:\/\/youtu.be\/wdN9vBcUAWA\">watch trailer, runtime 1:32<\/a>)<\/p>\n<p>\u26bd <strong>With all English football fixtures postponed this week following the death of Queen<\/strong><strong> Elizabeth II<\/strong>, we\u2019ll be turning to the Spanish, Italian, German, and French leagues to satisfy our football needs.<\/p>\n<p><strong>Today in La Liga: <\/strong>Elche faces Athletic Bilbao at 4:15pm, while Getafe plays Real Sociedad at 6:30 pm, concluding the day with Real Betis\u2019 match against Villarreal at 9pm.<\/p>\n<p><strong>Serie A: <\/strong>Lazio will play Verona at 6pm, then Juventus will face Salernitana at 9pm.<\/p>\n<p><strong>Bundesliga:<\/strong> The game between Cologne and Union Berlin kicked off at 3:30pm and is ongoing as we hit dispatch, while Freiburg's match against Borussia Moenchengladbach begins at 5:30pm.<\/p>\n<p><strong>France\u2019s Ligue 1:<\/strong> Monaco and Lyon will face off at 9pm.<\/p>\n<p><strong>? EAT THIS TONIGHT- <\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong><a href=\"https:\/\/www.fourseasons.com\/cairofr\/dining\/restaurants\/char-bar\/\">Char Bar<\/a><\/strong><strong> puts a posh spin on its all-American patties. <\/strong>Four Seasons First Residence\u2019s Char Bar brings an upscale comfy dining experience. The burger-and-shakes spot has an understated mellow vibe that makes it ideal for meeting up with friends after a long work day. You can\u2019t go wrong with their signature Char Burger, which lives up to the standards set by the classic American burger \u2014 seasoned just right, topped with beef bacon, lettuce, mushrooms, and a fried egg. You can have it with a side of regular fries, truffle oil-fried Parmesan fries, or, if you want to delude yourself by opting for a healthier alternative, you can go for beetroot chips. Finish off your meal with a warm chocolate chip cookie pan, and you\u2019ll be recharged enough to endure the rest of the work week.<\/p>\n<p>? <strong>OUT AND ABOUT-<\/strong><br \/> (all times CLT)<\/p>\n<p><strong>Catch a screening <\/strong><strong>of documentary<\/strong> <strong><a href=\"https:\/\/www.facebook.com\/events\/1980175865509375\/\">Where Did Ramses Go<\/a><\/strong><strong>? at the Netherlands-Flemish<\/strong><strong> Institute at 7pm: <\/strong>Director Amr Bayoumi remembers filming the transport of the Ramses II statue in 2006 with his own camera, when it was moved from Ramses Square to the Giza Plateau, some 12 years before being moved to its new location in the Grand Egyptian Museum. The 12-hour journey was probably the most historic transit the city's streets had ever seen, and it moved Bayoumi to share his childhood memories of the statue and his relationship with it.<\/p>\n<p><strong>? UNDER THE LAMPLIGHT-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>In today\u2019s distracted, multi-tasking culture, <\/strong><strong><a href=\"https:\/\/www.amazon.com\/Power-Unwavering-Focus-Dandapani-ebook\/dp\/B09N6ZVT9M\">The Power of Unwavering Focus<\/a><\/strong><strong> is a timely<\/strong><strong> reminder of the importance of undivided attention.<\/strong> Renowned speaker and Hindu priest Dandapani spent ten years in a secluded monastery, where he learned the value of focused effort. The former monk condenses the knowledge he received into an actionable step-by-step approach to mastering our own mind. Through simple but effective activities \u2014 such as making ours beds every morning \u2014 Dandapani shows how we can boost productivity, relationships, mental health, and happiness, through developing the ability to concentrate. This profound book is essential reading if you have trouble focusing or managing stress, which of course you do. \u201cConcentration is one of the most important skills any leader can have,\u201d according to Indra Nooyi, former CEO of PepsiCo. \u201cThe Power of Unwavering Focus shows us not only that focus is a learnable skill but that anyone can master the practice of intense concentration,\u201d she said.<\/p>\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=\"552527\" 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=\"552527\">\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\/11\/what-the-markets-are-doing-on-11-september-2022\/\">\r\n                            What the markets are doing on 11 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\/11\/what-the-markets-are-doing-on-11-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\/11\/what-the-markets-are-doing-on-11-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\/11\/what-the-markets-are-doing-on-11-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 11 September, 2022&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/11\/what-the-markets-are-doing-on-11-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\/11\/what-the-markets-are-doing-on-11-september-2022\/&title=What the markets are doing on 11 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+11+September%2C+2022+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F11%2Fwhat-the-markets-are-doing-on-11-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\/11\/what-the-markets-are-doing-on-11-september-2022\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-552527\" class=\"content-area-description single-story post-552527 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 0.9% at today\u2019s close<\/strong> on turnover of EGP 1.18 bn (22.7% above the 90-day average). Local investors were net buyers. The index is down 13.3% YTD.<\/p>\n<p><strong>In the green: <\/strong>Orascom Construction (+3.6%), Elsewedy Electric (+3.6%) and Sidi Kerir Petrochemicals (+3.3%).<\/p>\n<p><strong>In the red: <\/strong>MOPCO (-2.3%), Juhayna (-2.1%) and Egyptian Kuwaiti Holding-EGP (-1.7%).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/go-with-the-flow\/\">Go with the Flow<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull inside-industry vertical-section wide-section wp-block-group issue-section\" id=\"552528\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27470.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly look at the issues, trends, and policies that are shaping Egypt's manufacturing industries.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27477.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Sunday in EnterprisePM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/inside-industry\/\">\r\n                            Read Inside Industry                            \r\n                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">4<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/inside_industry\/industrial-stocks-are-still-divorced-from-earnings-performance\/\">  \r\n                            Industrial stocks are still divorced from earnings performance<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/inside_industry\/industrial-stocks-are-still-divorced-from-earnings-performance\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/inside_industry\/industrial-stocks-are-still-divorced-from-earnings-performance\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/inside_industry\/industrial-stocks-are-still-divorced-from-earnings-performance\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Industrial stocks are still divorced from earnings performance&url=https:\/\/enterpriseam.com\/egypt\/inside_industry\/industrial-stocks-are-still-divorced-from-earnings-performance\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/inside_industry\/industrial-stocks-are-still-divorced-from-earnings-performance\/&title=Industrial stocks are still divorced from earnings performance\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Industrial+stocks+are+still+divorced+from+earnings+performance+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Finside_industry%2Findustrial-stocks-are-still-divorced-from-earnings-performance%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>                    <\/div>\r\n\r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/inside_industry\/industrial-stocks-are-still-divorced-from-earnings-performance\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/485.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"552529\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/inside_industry\/industrial-stocks-are-still-divorced-from-earnings-performance\/485-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/485.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"485.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/485.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/485.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-552528\" class=\"content-area-description post-552528 inside_industry type-inside_industry status-publish has-post-thumbnail hentry tag-amoc tag-arqaam-capital tag-ci-capital tag-elsewedy-electric tag-enterprise-inside-industry tag-enterprisepm tag-ezz-steel tag-gb-auto tag-rameda-pharma wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Industrial players are seeing somewhat varied stock performances<\/strong>, with most EGX-listed industrial stocks continuing on the downward trajectory that began at the outset of the year. On both a year-to-date basis and when looking at the past five months (starting from 2Q 2022), only one EGX-listed major industrial company is in the green. There are also only four stocks that have outperformed the EGX30 this year so far.<\/p>\n<p><strong>Once again, share performances and earnings are on completely different wavelengths:<\/strong> All industrial companies \u2014 with the exception of Oriental Weavers \u2014 reported strong earnings during the second quarter of the year. This was also the case <a href=\"https:\/\/enterprise.press\/industries\/industrial-players-see-disappointing-stock-performances-amid-global-uncertainty\/\">in 1Q 2022<\/a>, when the majority of companies reported stellar earnings despite underperforming the broader EGX30 as a result of the war in Ukraine and the resulting global uncertainty, which prompted investors to exit equity markets in general, but particularly impacted industrial players due to trade disruptions, material shortages, and rising prices and costs.<\/p>\n<p><strong>For the purpose of this analysis, we\u2019ll look at the performance of a handful of heavyweight EGX30 stocks<\/strong> on a YTD basis and from the beginning of 2Q 2022 until now: GB Auto, Oriental Weavers, Ezz Steel, Elsewedy Electric, and Rameda Pharma.<\/p>\n<p><strong>Almost all the companies have underperformed the EGX30<\/strong>, both on a YTD basis and when looking at the five-month period beginning in 2Q 2022, according to market data. The EGX30\u2019s YTD return is -13.3%, while its 5M return is -10.4%.<\/p>\n<ul>\n<li>GB Auto fell 22.5% YTD and 9.8% since 3 April to EGP 3.85;<\/li>\n<li>Ezz Steel fell 1.4% YTD but is up 0.8% since 3 April to EGP 14.81;<\/li>\n<li>Elsewedy Electric fell 22% YTD and 11.9% since 3 April to EGP 7.84;<\/li>\n<li>Oriental Weavers fell 18.6% YTD and 22.1% since 13 April to EGP 6.97.<\/li>\n<\/ul>\n<p><strong>The only one bucking the trend: Rameda<\/strong>, which is up 13.1% YTD and 38.7% since 3 April to EGP 2.76.<\/p>\n<p><strong>For industrial stocks, keeping an eye on where the currency is headed is key: <\/strong>\u201cGenerally speaking, industrials are very much linked to macro dynamics and particularly the currency outlook,\u201d said Ahmed Soliman, CI Capital\u2019s head of the industrials sector. Most industrial players would also benefit from a weaker EGP on the balance sheet side of the equation, he told Enterprise. Arqaam Capital Associate Director Nour El Din Sherif echoed the same opinion, saying a depreciation also results in some savings on the labor side, including \u201cselling, general, and administrative (SG&amp;A) expenses, because most of the SG&amp;A is priced in local currency.\u201d<\/p>\n<p><strong>GB Auto is also a prime example of how wider macro conditions impact stock performance:<\/strong> Supply chain disruptions and shortages in the auto market drove down the company\u2019s share price during the first several months of the year, falling as much as 53.4% on a YTD basis in July. The company\u2019s share price has begun to stage a recovery (although it remains down YTD) in recent weeks amid expectations that Hassan Abdalla\u2019s appointment as governor of the Central Bank of Egypt and a potential agreement with the IMF will ease the country\u2019s FX crunch and allow for automotive imports to resume at a more regular pace, Soliman explains.<\/p>\n<p><strong>But fundamentals play a big role, too: <\/strong>Rameda, which has been consistently reporting solid growth in its financials, shows that investors are paying attention to each company\u2019s fundamentals. While market concerns following the EGP devaluation initially impacted the company\u2019s stock, it is now picking up again, CI Capital\u2019s co-head of research Alia El Mehelmy said.<\/p>\n<p><strong>Rameda\u2019s share movements are a reflection of confidence in management\u2019s strategy:<\/strong> Besides the company\u2019s sales volumes recovering in 1H 2022 \u201cdespite the decline in covid-related demand, which had at one point comprised 15% of the company\u2019s sales,\u201d Rameda\u2019s management is pushing with a \u201cmore active acquisition strategy,\u201d El Mehelmy told Enterprise. This strategy is expected to be \u201cwelcomed\u201d by the market considering how positively it impacts growth and margins, El Mehelmy told us.<\/p>\n<p><strong>Looking at the companies\u2019 financials:<\/strong><\/p>\n<ul>\n<li><strong>GB Auto\u2019s net income <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9cd4160b-1750-4a86-a8bf-06610d02a301\">rose<\/a><\/strong><strong> 31% y-o-y in 2Q<\/strong> despite market challenges, recording EGP 490.5 mn during the April-June period. Revenues rose almost 8% y-o-y to EGP 7.83 bn.<\/li>\n<li><strong>Rameda<\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4e740352-5c6a-4b63-a1b8-3480f62caa15\">reported<\/a><\/strong><strong> 65.8% y-o-y growth in net income<\/strong> to EGP 52.4 mn during 2Q 2022, and the company\u2019s topline for the quarter was up 38.0% y-o-y to EGP 368.4 mn.<\/li>\n<li><strong>Elsewedy Electric <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/93b970fb-2b39-4997-8a84-719a378d4c1e\">reported<\/a><\/strong><strong> record revenues in 2Q 2022<\/strong>, rising almost 50% y-o-y to EGP 20.4 bn during the quarter, driving a 27% increase in net income to EGP 1.1 bn.<\/li>\n<li><strong>Oriental Weavers was the only company that <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4e740352-5c6a-4b63-a1b8-3480f62caa15\">reported<\/a><\/strong><strong> a decrease in net income<\/strong>, which fell 29% y-o-y to EGP 211 mn, though revenues were up 14% y-o-y, reaching EGP 3.25 bn.<\/li>\n<\/ul>\n<p><strong>Industrial players are slowly emerging as the benefactors of a weaker EGP:<\/strong> Given that the majority of their products are either priced in foreign currencies or have exposure to exports, \u201cthe industrial sector is one of the main beneficiary of the depreciation of the EGP,\u201d El Sherif told Enterprise. Even if they retain their margins and have foreign exposure on the cost side, the depreciation in local currency will result in absolute growth in profitability, he explained, adding that these companies can increase their selling prices.<\/p>\n<p><strong>The global commodity outlook is also a big factor to look at<\/strong>, because operations are directly linked to commodity prices, and therefore they have a direct impact on profitability, said Soliman. This is especially relevant for companies that import commodities, such as Elsewedy, which imports raw materials such as copper and aluminum, Sherif said. Elsewedy is enjoying <a href=\"https:\/\/capital.com\/aluminium-price-forecast\">lower aluminum and copper prices<\/a>, which are reducing working capital needs and alleviating pressure on cashflow.<\/p>\n<p><strong>But what\u2019s positive for one company can be a negative for another:<\/strong> Ezz Steel, for example, could be saving on its cost side from lower iron ore prices \u2014 a sizable portion of their costs \u2014 but its top line could be lower and its margins slimmer as they export lower volumes, Sherif explained.<\/p>\n<p><strong>The rest of the year looks a bit brighter for industrials, <\/strong>particularly for manufacturers that use local components in their production. \u201cThese companies will likely benefit from a commodity price rally, because they price their end product in USD and it goes to the export market, while most of their cost is domestic and not linked to the global prices,\u201d says Sherif. The negative overall performance of industrials during 1H 2022 was justified, due to global market conditions, says Sherif, \u201cBut I think for the second half, the outlook looks much better,\u201d he concluded.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top industrial development stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Americana Egypt to expand food production:<\/strong> F&amp;B conglomerate Americana is planning to invest USD 26 mn in new food production lines in Egypt, Vice Chairman Ihab Hajjaj said.<\/li>\n<li><strong>The Finance Ministry has <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b01ab7ce-b452-464a-81c6-3d15a5c1e194\">laid out the criteria<\/a><\/strong><strong> for industry players<\/strong> looking to benefit from amended customs tariffs approved by the House of Representatives in June.<\/li>\n<li><strong>Pesticide imports <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c49a1f98-886d-415a-8e3c-78a1227861fc\">will be exempt<\/a><\/strong><strong> from the requirement to use letters of credit<\/strong> after the Agriculture Ministry approved categorizing pesticides as production inputs rather than final products, exempting them from the central bank\u2019s import restrictions.<\/li>\n<li><strong>FMCG player Dabur Egypt will <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c49a1f98-886d-415a-8e3c-78a1227861fc\">double its production capacity<\/a><\/strong> with a new factory in Tenth of Ramadan City. The first phase is set to start operations in March 2023.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/amoc\/\">AMOC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/arqaam-capital\/\">Arqaam Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ci-capital\/\">CI Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/elsewedy-electric\/\">Elsewedy Electric<\/a>\n                <!-- <span 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-->\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\/11\/552530\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-552530\" class=\"content-area-description single-story post-552530 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>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 September (Monday): Consoleya will host a Business Meet-up by Cairo Angels, which will focus on Nigeria\u2019s tech ecosystem.<\/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>18 September (Sunday): Deadline to apply for investor funding under the Planning Ministry\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/76aee85d-c85b-4487-8b4e-98a1424e956f\">Smart Green Governorates<\/a> initiative.<\/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&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>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&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>October: The CEO Women Conference<\/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>1-2 November (Tuesday-Wednesday): Arab League annual summit, Algiers, Algeria.<\/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 &ndash; 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>19-21 June (Monday-Wednesday) Egypt Infrastructure and Water Expo <a href=\"https:\/\/ent.news\/2022\/9\/Announcement__EGYPT_INFRASTRUCTURE_AND_WATER_EXPO_LAUNCHES_JUNE_2023.pdf\">debuts<\/a> at the Egypt International Exhibition Center.<\/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\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":552519,"template":"","categories":[],"tags":[],"class_list":["post-552518","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"89edea19-a7fe-45d9-a678-d0915ee51041","teaser":"","photo_url":"https:\/\/ent.news\/2022\/9\/60.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>Luxury fashion is getting more sustainable - 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\/luxury-fashion-is-getting-more-sustainable\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Luxury fashion is getting more sustainable\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/luxury-fashion-is-getting-more-sustainable\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T23:47:15+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\/60.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\/luxury-fashion-is-getting-more-sustainable\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/luxury-fashion-is-getting-more-sustainable\/\",\"name\":\"Luxury fashion is getting more sustainable - 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