{"id":553244,"date":"2022-10-30T13:39:19","date_gmt":"2022-10-30T13:39:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=553244"},"modified":"2025-12-16T00:03:38","modified_gmt":"2025-12-16T00:03:38","slug":"all-eyes-on-the-slide","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/all-eyes-on-the-slide\/","title":{"rendered":"All eyes on the slide"},"content":{"rendered":"<section id=\"553246\" 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=\"553246\">\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\/10\/30\/this-evening-egp-slips-again-south-korea-stampede-kills-more-than-150-people\/\">\r\n                            THIS EVENING: EGP slips again + South Korea stampede kills more than 150 people                        <\/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\/10\/30\/this-evening-egp-slips-again-south-korea-stampede-kills-more-than-150-people\/\" 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\/10\/30\/this-evening-egp-slips-again-south-korea-stampede-kills-more-than-150-people\/')\">\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\/10\/30\/this-evening-egp-slips-again-south-korea-stampede-kills-more-than-150-people\/\">\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: EGP slips again + South Korea stampede kills more than 150 people&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/30\/this-evening-egp-slips-again-south-korea-stampede-kills-more-than-150-people\/\">\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\/10\/30\/this-evening-egp-slips-again-south-korea-stampede-kills-more-than-150-people\/&title=THIS EVENING: EGP slips again + South Korea stampede kills more than 150 people\">\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+EGP+slips+again+%2B+South+Korea+stampede+kills+more+than+150+people+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F30%2Fthis-evening-egp-slips-again-south-korea-stampede-kills-more-than-150-people%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\/10\/30\/this-evening-egp-slips-again-south-korea-stampede-kills-more-than-150-people\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-553246\" class=\"content-area-description single-story post-553246 post type-post status-publish format-standard hentry category-what-were-tracking-tonight tag-central-bank-of-egypt tag-enterprisepm 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 Sunday, friends.<\/strong> We\u2019re wary of calling out slow news days after our Thursday prophecy went in the polar opposite direction, but it so far appears to be a calm-ish start to the week, as most have their gaze fixed firmly on where the EGP is headed.<\/p>\n<p><strong>THE BIG STORY TODAY<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>EGP WATCH- The EGP is currently sitting at 24 against the greenback: <\/strong>The EGP continued its slide against the USD today, dropping an additional 4% to 24, according to data from state-owned Banque Misr and the National Bank of Egypt. The EGP was trading at 23.03 on Thursday after the central bank pledged a <a href=\"https:\/\/enterprise.press\/afternoons\/pm-taweem-3-0-sees-egp-at-23-03-against-the-greenback\/#tldr-story-06\">\u201cdurably flexible\u201d exchange rate<\/a> as we reached a staff-level agreement with the IMF.<\/p>\n<p><strong>The EGP was trading at 19.75 on Wednesday <\/strong>before the latest devaluation. The EGP has so far dropped 34.5% against the USD this year.<\/p>\n<p><strong>It could go further: <\/strong>Analysts are <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/60dc5b0c-8c51-4c61-aa04-54e46a86a7c6\">penciling<\/a> in anywhere between EGP 22-25 by the end of next year, with some expecting the EGP to jump to anywhere between 25-27 against the greenback and ultimately settling at EGP 25 \/ USD 1 by the end of 2022.<\/p>\n<p><strong>THE BIG STORY ABROAD<\/strong><\/p>\n<p><strong>It\u2019s a toss-up in the international business press this afternoon<\/strong> between Elon Musk\u2019s Twitter takeover (<a href=\"https:\/\/www.cnbc.com\/2022\/10\/29\/a-brief-history-of-twitter-from-its-founding-in-2006-to-musk-takeover.html\">CNBC<\/a>), the disintegration of the Turkey-brokered wheat pact (<a href=\"https:\/\/www.ft.com\/content\/d772af70-7812-41a6-8a2e-c214c79ca373\">Financial Times<\/a>), and a stampede in South Korea that has killed more than 150 people (<a href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/yoon-declares-mourning-south-korea-after-halloween-crush-kills-151-2022-10-30\/\">Reuters<\/a> and the <a href=\"https:\/\/www.wsj.com\/articles\/halloween-celebrations-in-seoul-lead-to-stampede-possible-injuries-11667064286?mod=hp_lead_pos7\">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>What happened on Thursday?<\/strong> The Central Bank of Egypt (CBE) at the end of last week <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/60dc5b0c-8c51-4c61-aa04-54e46a86a7c6\">went ahead with a series of measures<\/a> to restore liquidity to the FX market and revive investor confidence in the economy \u2014 and topped it off by announcing a USD 3 bn loan agreement from the IMF.<\/li>\n<li><strong>Chimera snaps up c.22% of MNT Investments:<\/strong> Netherlands-based MNT Investments \u2014 which is majority-owned by GB Auto subsidiary GB Capital \u2014 <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c95034ed-0327-4eef-8d94-7329f3f97e13\">agreed to sell<\/a> a 21.7% stake to a unit of Chimera Investments.<\/li>\n<li><strong>The expat car import scheme is on its way:<\/strong> President Abdel Fattah El Sisi has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/82bee1e7-27a9-4e86-bf75-057a2812bbdb\">signed into law<\/a> a bill that will allow Egyptian expats to import cars and get customs and tax exemptions after paying upfront in FX.<\/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> We profile a national initiative to help accelerate the localization of industrial production and lower the country\u2019s reliance on imported goods.<\/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>It\u2019s almost at the start of a new month- <\/strong>The key news triggers as we slide towards November:<\/p>\n<ul>\n<li><strong>PMI:<\/strong> We\u2019ll know how Egypt\u2019s private sector fared in October on Wednesday when S&P Global releases the purchasing managers\u2019 index. A 22-month contraction in private sector activity didn\u2019t <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2b7956e2-bf64-4f31-872d-460d0234cc4f\">show signs of abating<\/a> in September as high inflation continued to weigh on demand and output.<\/li>\n<li><strong>Foreign reserves figures for October<\/strong> will be released next week.<\/li>\n<li><strong>Inflation:<\/strong> Capmas and the central bank will release October\u2019s inflation figures on Thursday, 10 November.<\/li>\n<\/ul>\n<p><strong>Importers, exporters and customs agents <\/strong><strong><a href=\"https:\/\/www.facebook.com\/NafezaEgypt\/posts\/pfbid0asWdUR2zm1WbxVYXoEkv2xS9eLS97ifVPKoBYLGEwKsMCqnQrtuvBs6JvXoE9r8nl\">have two days left<\/a><\/strong> to register to join the Finance Ministry\u2019s digital customs system <strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e9e2f68a-8c99-4750-b736-cbcdd6f65839\">Nafeza<\/a><\/strong> before they can no longer clear goods out of customs at seaports. (<a href=\"https:\/\/www.facebook.com\/NafezaEgypt\/posts\/pfbid0asWdUR2zm1WbxVYXoEkv2xS9eLS97ifVPKoBYLGEwKsMCqnQrtuvBs6JvXoE9r8nl\">Statement<\/a> | <a href=\"https:\/\/bit.ly\/3SHUlNq\">Al Mal<\/a>)<\/p>\n<p><strong>The Federal Reserve will hold its penultimate policy meeting of 2022 on Tuesday and <\/strong><strong>Wednesday: <\/strong>The folks over at the Fed aren\u2019t expected to take their feet off the gas when they meet this week to review interest rates. The market is pricing in a fourth consecutive 75-bps rate hike on the back of another disappointing inflation release which showed core inflation reaching a new 40-year high in September despite the central bank embarking on its most aggressive tightening cycle in decades. And <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-28\/key-us-inflation-gauges-advance-keeping-fed-hikes-on-track?sref=mmeFTDW1\">in reports yesterday<\/a>, two other indexes closely watched by the Fed provided additional evidence that inflationary pressures continued unabated in September.<\/p>\n<p><strong><a href=\"http:\/\/thefingerprintsummit.org\/#\/speakersnew\">The Fingerprint Summit<\/a><\/strong><strong>:<\/strong> A forum connecting corporations, investors, entrepreneurs, and government officials to promote potential investments for the private and public sectors will be held at the Nile Ritz Carlton Hotel from 22-23 November.<\/p>\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- <\/strong>Expect temperatures to rise to 28\u00b0C during the day tomorrow before falling to 18\u00b0C at night, our favorite weather app tells us.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-tonight\/\">WHAT WE\u2019RE TRACKING TONIGHT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"553247\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"553247\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/30\/553247\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-553247\" class=\"content-area-description single-story post-553247 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/palmhillsdevelopments.com\/OurDevelopments\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/CLeo-enterprise-1600px-02-1.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"553248\" 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=\"553248\">\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\/10\/30\/businesses-want-businesses-to-do-better-on-climate-impact-disclosures-wfh-becoming-less-popular-amid-energy-crisis\/\">\r\n                            Businesses want businesses to do better on climate impact disclosures + WFH becoming less popular amid energy crisis                        <\/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\/10\/30\/businesses-want-businesses-to-do-better-on-climate-impact-disclosures-wfh-becoming-less-popular-amid-energy-crisis\/\" 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\/10\/30\/businesses-want-businesses-to-do-better-on-climate-impact-disclosures-wfh-becoming-less-popular-amid-energy-crisis\/')\">\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\/10\/30\/businesses-want-businesses-to-do-better-on-climate-impact-disclosures-wfh-becoming-less-popular-amid-energy-crisis\/\">\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=Businesses want businesses to do better on climate impact disclosures + WFH becoming less popular amid energy crisis&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/30\/businesses-want-businesses-to-do-better-on-climate-impact-disclosures-wfh-becoming-less-popular-amid-energy-crisis\/\">\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\/10\/30\/businesses-want-businesses-to-do-better-on-climate-impact-disclosures-wfh-becoming-less-popular-amid-energy-crisis\/&title=Businesses want businesses to do better on climate impact disclosures + WFH becoming less popular amid energy crisis\">\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=Businesses+want+businesses+to+do+better+on+climate+impact+disclosures+%2B+WFH+becoming+less+popular+amid+energy+crisis+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F30%2Fbusinesses-want-businesses-to-do-better-on-climate-impact-disclosures-wfh-becoming-less-popular-amid-energy-crisis%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\/10\/30\/businesses-want-businesses-to-do-better-on-climate-impact-disclosures-wfh-becoming-less-popular-amid-energy-crisis\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/516.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"553249\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/30\/businesses-want-businesses-to-do-better-on-climate-impact-disclosures-wfh-becoming-less-popular-amid-energy-crisis\/516-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/516.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"516.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/516.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/516.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-553248\" class=\"content-area-description single-story post-553248 post type-post status-publish format-standard has-post-thumbnail hentry category-for-your-commute tag-climate-change tag-cop15 tag-energy tag-enterprisepm tag-for-your-commute wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Over 300 businesses are pressuring governments to make nature impact <\/strong><strong>disclosures mandatory by 2030<\/strong>, <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a65eb8c4-9ad8-4c5a-804d-1cc5765bb0df\">Enterprise Climate<\/a> reports. H&M, Sainsbury\u2019s and Nestle are among those petitioning for a call to action in the run up to COP15, the UN biodiversity conference being held in Montreal this December. The companies issued an <a href=\"https:\/\/www.businessfornature.org\/cop15-business-statement\">open letter<\/a> to world leaders explaining that \u201cbusiness and financial status quo was economically shortsighted and will destroy value over the long term.\u201d<\/p>\n<p><strong>If passed, the pledge would apply to all major corporations operating in the 196 countries participating in the conference.<\/strong> It would be mandatory for companies to assess their impact on nature and disclose nature-related information by 2030 in a bid to increase accountability, encourage fairer competition, and push for a more responsible sourcing of materials. A <a href=\"https:\/\/www.businessfornature.org\/make-it-mandatory-campaign\">report<\/a> released by <a href=\"https:\/\/www.businessfornature.org\">Business for Nature<\/a>, the <a href=\"https:\/\/capitalscoalition.org\">Capitals Coalition<\/a>, and <a href=\"https:\/\/www.cdp.net\/en\/\">CDP<\/a> indicates that companies are ready to transform their business to become eco-friendly because \u201cthere can be no business on a dead planet.\u201d<\/p>\n<hr class=\"grey-line\">\n<p><strong>Only 24 climate plans were submitted by the 193 countries who pledged to <\/strong><strong>increase their climate commitments,<\/strong> according to a UN climate <a href=\"https:\/\/unfccc.int\/news\/climate-plans-remain-insufficient-more-ambitious-action-needed-now\">report<\/a> released last week. UN climate chief Simon Stiell says \u201cthe statistics are rather disappointing,\u201d and calls for governments to take serious action toward global greenhouse gas emissions as the planet faces 2.5\u00b0C of warming, far higher than the 1.5\u00b0C submitted under the <a href=\"https:\/\/unfccc.int\/files\/essential_background\/convention\/application\/pdf\/english_paris_agreement.pdf\">Paris Agreement<\/a> of 2015. The report suggests that current commitments will see a 10.6% increase in emissions by 2030, which is an improvement from last year\u2019s 13.7% compared to 2010 levels.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>The global energy crisis is pushing people back to the office: <\/strong>Nearly a quarter of UK employees and two-fifths of US employees are planning to work from the office or other workspaces outside home this winter to save energy, according to an <a href=\"https:\/\/resources.infogrid.io\/story\/energy-management-and-the-workplace-of-the-future-why-we-need-an-efficiency-revolution\/page\/1\">Infogrid survey<\/a>. 74% of Americans and 70% of Brits are beginning to see an increase in their energy bills as a result of the energy crisis, the survey says. Now, employees are more environmentally conscious and eager to take \u201cpersonal action to improve sustainability in the workplace,\u201d with 40% of US and UK respondents believing that their companies should do more to curb environmental impact, according to the survey.<\/p>\n<p><strong>Commuting remains a problem area: <\/strong>While working less from home appears to be a good solution to rising energy prices, the fuel expenses can offset this \u2014 61% of UK commuters are concerned commuting is more expensive than before, <a href=\"https:\/\/www.ft.com\/content\/34aabcdd-9b30-41e2-932c-b2f80ea16e17\">Financial Times<\/a> reports, citing a Mobilityways survey.<\/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\/climate-change\/\">climate 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and Ray                        <\/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\/10\/30\/two-brothers-heal-the-past-while-burying-their-father-in-raymond-and-ray\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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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-04\"><\/a> <strong>Burying the past \u2014 literally:<\/strong> The death of their abusive father brings together estranged half brothers <a href=\"https:\/\/www.apple.com\/tv-pr\/originals\/raymond-and-ray\/\">Raymond and Ray<\/a> (played by Ewan McGregor and Ethan Hawke) to carry out his final wishes. Their father\u2019s lawyer informs them that they were left money in his will, subject to the condition that they dig his grave using specific shovels he allocated for the job. As they embark on a road trip back to Virginia, they seek closure and grieve the loss of a man that remained popular and well-liked despite making their childhood miserable. The movie is available to stream on AppleTV+ (<a href=\"https:\/\/www.youtube.com\/watch?v=3fzW5DpoApg\">watch trailer, runtime 2:20<\/a>).<\/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\/enterprise-recommends\/\">Enterprise Recommends<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/on-the-tube-tonight\/\">On The Tube Tonight<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"553257\" 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=\"553257\">\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\/10\/30\/what-the-markets-are-doing-on-30-october-2022\/\">\r\n                            What the markets are doing on 30 October, 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\/10\/30\/what-the-markets-are-doing-on-30-october-2022\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Foreign investors were net buyers. The index is down 7.1% YTD.<\/p>\n<p><strong>In the green: <\/strong>Alexandria Containers and Cargo Handling (+7.7%), Egypt Kuwait Holding-EGP (+4.4%) and Juhayna (+4.1%).<\/p>\n<p><strong>In the red: <\/strong>Qalaa Holdings (-3.3%), Ezz Steel (-2.5%) and Housing and Development Bank (-2.3%).<\/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=\"553258\">\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\/a-big-step-towards-import-substitution\/\">  \r\n                            A big step towards import substitution<\/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\/a-big-step-towards-import-substitution\/\" 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\/a-big-step-towards-import-substitution\/')\">\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\/a-big-step-towards-import-substitution\/\">\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=A big step towards import substitution&url=https:\/\/enterpriseam.com\/egypt\/inside_industry\/a-big-step-towards-import-substitution\/\">\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\/a-big-step-towards-import-substitution\/&title=A big step towards import substitution\">\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=A+big+step+towards+import+substitution+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Finside_industry%2Fa-big-step-towards-import-substitution%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\/a-big-step-towards-import-substitution\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/519.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=\"553259\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/inside_industry\/a-big-step-towards-import-substitution\/519-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/519.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"519.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/519.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/519.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-553258\" class=\"content-area-description post-553258 inside_industry type-inside_industry status-publish has-post-thumbnail hentry tag-enterprise-inside-industry tag-enterprisepm tag-hayah-karima tag-industry tag-manufacturing 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>PROJECT PROFILE-<\/strong> <strong>Import substitution initiative to invest EGP 200 bn to localize<\/strong><strong> industries: <\/strong>As part of the state\u2019s ambitious plan to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/158188ff-65a9-4146-adc1-5f53c1a3f6e5\">increase exports to USD 100 bn a year<\/a> by 2025, the government yesterday <a href=\"https:\/\/enterprise.press\/\">launched<\/a> a national initiative to help accelerate the localization of industrial production and lower the country\u2019s reliance on imported goods. While we know the broad strokes of the initiative, more details are set to be announced in two weeks, sources familiar with the matter told Enterprise.<\/p>\n<p><strong>About the initiative:<\/strong> The <a href=\"https:\/\/ebda.com.eg\/en\">National Initiative of Developing Egyptian Industry (Ebda)<\/a> will invest EGP 200 bn over the next four years through its executive arm, Ebda, which is majority owned by the <a href=\"https:\/\/www.linkedin.com\/company\/hayah-karima-foundation-%D9%85%D8%A4%D8%B3%D8%B3%D8%A9-%D8%AD%D9%8A%D8%A7%D8%A9-%D9%83%D8%B1%D9%8A%D9%85%D8%A9\/?originalSubdomain=eg\">Hayah Karima (Decent Life) Foundation<\/a>, to help support existing industrial projects and fast-track the development of new ones, according to a <a href=\"https:\/\/ent.news\/2022\/10\/%D9%85%D9%84%D9%81-%D9%85%D8%B9%D9%84%D9%88%D9%85%D8%A7%D8%AA%D9%8A-%D8%B9%D9%86-%D9%85%D8%A8%D8%A7%D8%AF%D8%B1%D8%A9-%D8%AA%D8%B7%D9%88%D9%8A%D8%B1-%D8%A7%D9%84%D8%B5%D9%86%D8%A7%D8%B9%D8%A9-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%A7%D8%A8%D8%AF%D8%A3.pdf\">statement (pdf)<\/a> on the initiative. It also aims to create some 150k direct and indirect jobs over the course of four years. The initiative has so far helped 64 projects \u2014 with participation from 33 local companies and 20 foreign ones from 12 different companies \u2014 in different sectors go live.<\/p>\n<p><strong>REMEMBER-<\/strong> <strong>Reducing imports is a cornerstone of narrowing the current account deficit<\/strong>, which <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fd06a9c6-1825-4822-aba2-3a0e5c724c91\">narrowed to 3.7%<\/a> in FY 2021-22, buoyed by oil and non-oil exports, rising tourism receipts, and a jump in FDI. This also comes as we look to build a more resilient local industry (and economy) that can weather external shocks like the fallout from covid-19 and the Russia-Ukraine war.<\/p>\n<p><strong>HOW DOES THE INITIATIVE SUPPORT LOCAL INDUSTRIES + HELP REDUCE IMPORTS? <\/strong><\/p>\n<p><strong>#1- It focuses on providing technical training and financial support<\/strong> to existing companies and factories that are struggling or in default. The initiative\u2019s investment arm, Ebda, acquires up to a 40% stake in a private company to give it a boost, while leaving management and operations to the private sector partner, Sherif El Gebaly, chairman of the Egyptian Chamber of Chemical Industries and fertilizer manufacturer Polyserve Group, told Kelma El Akhira last night (<a href=\"https:\/\/www.youtube.com\/watch?v=ta1zd0GG3XY\">watch, runtime: 11:00<\/a>). El Gebaly\u2019s company is involved in two projects under the initiative: A EGP 1 bn feed project in Gamasa\u2019s industrial zone in Dakahlia and a revived soda ash project.<\/p>\n<p><strong>#2- It will offer a number of incentives to companies to invest in industrial production<\/strong>, including providing them with five-year tax exemptions and land plots under a usufruct framework, according to the initiative\u2019s website.<\/p>\n<p><strong>#3- It will help fast-track bureaucratic procedures<\/strong> <strong>and smooth out any challenges for investors <\/strong>who want to establish a factory or invest in one. The initiative has so far <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/a9e20035-17c1-4efb-bfff-383cb73c6290\">helped 1.5k factories<\/a> go legit by helping them get their licenses or finish necessary paperwork.<\/p>\n<p><strong>#4- It helps drum up investments for projects from foreign investors <\/strong>through partnerships with experts in different sectors. The initiative has so far managed to strike partnerships between local manufacturers of household appliances and foreign investors to produce components for the industry, according to the statement. These appliances will then be produced locally and sold for export, the statement says. It has also created partnerships in a number of other sectors like fertilizer, chemicals, rubber, plastics, automotive components, metal, paper, engines, generators, leather products, and heavy equipment.<\/p>\n<p><strong>What sectors does the initiative target? <\/strong>The initiative does not target specific industries, but rather looks at \u201csupporting feeder industries and ensuring their ability to expand,\u201d as well as ensuring the \u201ccomprehensive development of industrial components including raw materials, production inputs, and testing laboratories,\u201d according to the statement.<\/p>\n<p><strong>Three birds with one stone? <\/strong>While the initiative\u2019s primary objective is to reduce imports and support local industries, it also plays into the state\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/158188ff-65a9-4146-adc1-5f53c1a3f6e5\">plans to strengthen the private sector\u2019s role<\/a> in the economy. It also helps feed into the <a href=\"https:\/\/enterprise.press\/hardhats\/past-present-future-decent-life-initiative\/\">Decent Life Initiative<\/a>, with the financial returns from Ebda\u2019s investments filtering back into the Hayah Karima Foundation.<\/p>\n<p><strong>REMEMBER- <\/strong><strong>Earlier this year the government earmarked <\/strong><strong><a href=\"https:\/\/enterprise.press\/industries\/egypt-moves-forward-import-substitution-strategy-sectors-focus-shift-local-manufacturing\/\">nine priority investment industries<\/a><\/strong> to start the push towards localizing manufacturing: Wood and furniture, engineering, food and agriculture, chemicals, textiles, pharma and medical, printing and packaging, building materials, and metallurgical industries. 141 product categories fall under these nine investment areas, amounting to USD 17 bn and accounting for 23% of Egypt\u2019s 2019 import bill.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top industrial development stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Farewell, L\/Cs:<\/strong> The central bank will <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ddd263a4-f28f-47d4-90e2-e93c3db56a26\">phase out<\/a> its letter of credit (L\/Cs) system for importers before the end of the year.<\/li>\n<li><strong>We have an <\/strong><strong>imports<\/strong><strong> problem \u2014 but an <\/strong><strong>exports<\/strong><strong> crisis, <\/strong>said UN High-level Climate Champion for Egypt Mahmoud Mohieldin last week at the economic conference.<\/li>\n<li>The <strong>Industrial Development Authority<\/strong> has <a href=\"http:\/\/bit.ly\/3NkYzJZ\">re-issued<\/a> a tender of industrial units in six governorates.<\/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\/hayah-karima\/\">Hayah Karima<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industry\/\">industry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"553260\" 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\/10\/30\/553260\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-553260\" class=\"content-area-description single-story post-553260 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>OCTOBER<\/strong><\/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>30 October-1 November (Sunday-Tuesday): <a href=\"https:\/\/www.egypt-energy.com\/en\/home.html\">Egypt Energy<\/a>, Egypt International Exhibition Center (EIEC), New Cairo.<\/p>\n<p>Late October-14 November: 3Q2022 e\u0634arnings season.<\/p>\n<p>Late October: First Abu Dhabi Bank to <a href=\"https:\/\/bit.ly\/3eEUoeA\">complete<\/a> full integration with Bank Audi\u2019s Egyptian operations after <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7db0f456-9e63-420a-b309-a9a455fb3667\">merger<\/a>.<\/p>\n<p><strong>NOVEMBER<\/strong><\/p>\n<p>1 November (Tuesday): Deadline for importers, exporters and customs brokers to join Nafeza.<\/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>3-5 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>5-8 November (Sunday-Tuesday): Techne Summit for Investment and Entrepreneurship, Alexandria, Egypt<\/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): <a href=\"https:\/\/www.greeninitiatives.gov.sa\/about-mgi\/\">Middle East Green Initiative<\/a>, 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>9 November (Wednesday): Finance Ministry to host \u201c<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid029A7ytdAhcMYQsLo8xQ6Ne5FuvWWDty9yYj66v4LMifKZ611tqzps8jkcw4P7fLMhl\">Finance Day<\/a>\u201d at COP27.<\/p>\n<p>11-12 November (Friday-Saturday): <a href=\"https:\/\/www.greeninitiatives.gov.sa\/about-sgi\/\">Saudi Green Initiative<\/a>, Sharm El Sheikh.<\/p>\n<p>7-13 November (Monday-Sunday): 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>15-16 November (Tuesday-Wednesday): <a href=\"https:\/\/www.g20.org\/bali-summit\/\">G20 summit<\/a>, Bali, Indonesia.<\/p>\n<p>21 November-18 December (Monday-Sunday): 2022 Fifa World Cup, Qatar.<\/p>\n<p>22 November- 23 November (Tuesday-Wednesday): <a href=\"http:\/\/thefingerprintsummit.org\/#\/speakersnew\">The Fingerprint Summit<\/a> will be held at the Nile Ritz Carlton Hotel.<\/p>\n<p>27 \u2013 28 November (Thursday-Friday): The first edition of the <a href=\"https:\/\/twitter.com\/Extranewstv\/status\/1579478836366176256\">Egypt Media Forum<\/a>.<\/p>\n<p>27-30 November (Sunday-Wednesday): <a href=\"https:\/\/cairoict.com\/\">Cairo ICT<\/a>, Egypt International Exhibition Center, New Cairo.<\/p>\n<p><strong>DECEMBER<\/strong><\/p>\n<p>3 December (Saturday): Dior Men\u2019s pre-fall collection show in Giza.<\/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: Egyptian Automotive Summit.<\/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): Use of Nafeza <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/381373340699759\">becomes compulsory<\/a> for air freight.<\/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>30 January-1 February (Monday-Wednesday): CI Capital\u2019s Annual MENA Investor Conference 2023, Cairo, Egypt.<\/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>23-27 February (Thursday-Monday): Annual Business Women of Egypt\u2019s Women for Success conference.<\/p>\n<p><strong>MARCH 2023<\/strong><\/p>\n<p>March: 4Q2022 earnings season.<\/p>\n<p>23 March (Wednesday): 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>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>4Q 2022: Saudi Jamjoom Pharma to <a href=\"https:\/\/bit.ly\/3R7SGzP\">inaugurate its EGP 1 bn pharma factory<\/a> in El Obour.<\/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\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":553245,"template":"","categories":[],"tags":[],"class_list":["post-553244","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"8cf331d7-cc12-4042-baf1-7a54eb9cf174","teaser":"","photo_url":"https:\/\/ent.news\/2022\/10\/84.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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