{"id":564229,"date":"2021-08-18T13:41:06","date_gmt":"2021-08-18T13:41:06","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=564229"},"modified":"2025-12-16T04:26:25","modified_gmt":"2025-12-16T04:26:25","slug":"fund-run-by-rachid-mohamed-rachid-buys-stake-in-egyptian-handbag-brand-okhtein","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/fund-run-by-rachid-mohamed-rachid-buys-stake-in-egyptian-handbag-brand-okhtein\/","title":{"rendered":"Fund run by Rachid Mohamed Rachid buys stake in Egyptian handbag brand Okhtein"},"content":{"rendered":"<section id=\"564231\" 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=\"564231\">\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\/2021\/08\/18\/this-evening-egypts-earnings-recovery-continues-why-being-a-small-giant-is-a-very-good-thing\/\">\r\n                            THIS EVENING: Egypt\u2019s earnings recovery continues + Why being a \u201cSmall Giant\u201d is a very good thing                        <\/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\/2021\/08\/18\/this-evening-egypts-earnings-recovery-continues-why-being-a-small-giant-is-a-very-good-thing\/\" 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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We have the details in this afternoon\u2019s Earnings Watch, below.<\/p>\n<p><strong>HAPPENING NOW- Intelligence chief Abbas Kamel is in Israel <\/strong>to support Egyptian efforts in the peace process, according to <a href=\"https:\/\/www.youm7.com\/story\/2021\/8\/18\/%D8%A8%D8%AA%D9%83%D9%84%D9%8A%D9%81-%D9%85%D9%86-%D8%A7%D9%84%D8%B1%D8%A6%D9%8A%D8%B3-%D8%A7%D9%84%D8%B3%D9%8A%D8%B3%D9%8A-%D8%B1%D8%A6%D9%8A%D8%B3-%D8%A7%D9%84%D9%85%D8%AE%D8%A7%D8%A8%D8%B1%D8%A7%D8%AA-%D8%A7%D9%84%D8%B9%D8%A7%D9%85%D8%A9-%D9%81%D9%89-%D8%B2%D9%8A%D8%A7%D8%B1%D8%A9-%D9%84%D8%AA%D9%84\/5429019\">Youm7<\/a>. He will visit Tel Aviv and the West Bank\u2019s Ramallah.<\/p>\n<p><strong>** CATCH UP QUICK on the top stories from today\u2019s EnterpriseAM:<\/strong><\/p>\n<ul>\n<li><strong>Blockbuster investment in education: <\/strong>Cairo Egypt Education \u2014 a joint venture between CIRA and Elsewedy Capital Holding \u2014 is to build a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/70e4da61-f321-4186-a485-64aff2143837\">new EGP 2.5 bn private university in New Damietta<\/a> \u2014 and has new K-12 schools in the pipeline to open as soon as next month.<\/li>\n<li><strong>Raya Holding subsidiary Aman is to <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4feee1f5-02b2-4a71-b9b7-3c652c05fc63\">issue EGP 500 mn of securitized bonds<\/a><\/strong> by the end of the year as the company remains on track to pull the trigger on its initial public offering on the EGX.<\/li>\n<li><strong>More Egyptians have telecom-backed e-wallets \u2014 and aren\u2019t shy about using <\/strong><strong>them<\/strong>, according to a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e7e7817c-41a7-4bac-ada8-67e0779a5146\">report<\/a> from the National Telecom Regulatory Authority. Vodafone has the largest market share, followed by Orange, Etisalat and We.<\/li>\n<\/ul>\n<p><strong>THE BIG STORY ABROAD- Still Afghanistan<\/strong>, with the <a href=\"https:\/\/www.ft.com\/content\/65f61fb1-9462-4e25-990a-702812860b76\">Financial Times<\/a> reporting that exiled Taliban leaders are returning home as the group prepares to govern. The US\u2019 NATO allies, meanwhile, are <a href=\"https:\/\/www.ft.com\/content\/3ea7e87e-ab3a-4e14-8396-8061420942b0\">bluntly unhappy<\/a> about how the US is winding down the alliance\u2019s longest-running mission. While evacuation flights have resumed, the <a href=\"https:\/\/www.wsj.com\/articles\/taliban-block-routes-to-kabul-airport-hampering-evacuations-from-afghanistan-11629279556?mod=hp_lead_pos7\">Wall Street Journal<\/a> reports that the insurgents are blocking routes to Kabul airport.<\/p>\n<p><strong>And the Taliban is showing signs of how it will deal with dissent: <\/strong>Taliban gunmen <a href=\"https:\/\/www.reuters.com\/world\/india\/least-three-dead-following-anti-taliban-protests-jalalabad-witnesses-2021-08-18\/\">fired into<\/a> <a href=\"https:\/\/www.reuters.com\/world\/india\/least-three-dead-following-anti-taliban-protests-jalalabad-witnesses-2021-08-18\/\">crowds and beat journalists<\/a> as protesters gathered in Jalalabad to denounce the group\u2019s return.<\/p>\n<p><strong>Two (English-language) Twitter accounts on Afghanistan worth a follow:<\/strong><\/p>\n<p><strong>Kinda-sorta-former acting central bank governor <\/strong><strong><a href=\"https:\/\/twitter.com\/aahmady\">Ajmal Ahmady<\/a><\/strong>, the <a href=\"https:\/\/dab.gov.af\/Executive-Board\">Harvard-educated<\/a> <a href=\"https:\/\/dab.gov.af\/Executive-Board\">banker<\/a> who the former government couldn\u2019t get appointed on a permanent basis because he allegedly had a poor command of local languages. Ahmady used <a href=\"https:\/\/twitter.com\/aahmady\/status\/1427265049668636674?s=20\">this thread to discuss why he fled the country last weekend<\/a> and is tweeting up a storm on what to expect next on the macro front. (It\u2019s not clear right now whether Ahmady has resigned \u2014 and the Taliban still haven\u2019t formed a government that could fire him.)<\/p>\n<p><strong><a href=\"https:\/\/twitter.com\/CombatJourno?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor\">@CombatJourno<\/a><\/strong><strong>, whose tweeting has slowed down in the past day.<\/strong> He\u2019s an Afghan journalist named Mustafa whose feed includes heartbreaking documentation of his bid to get his wife and child out of the country.<\/p>\n<p><strong>A must-read for on the ground news:<\/strong> <a href=\"https:\/\/tolonews.com\/\">TOLO news<\/a>.<\/p>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong> <strong>\u201cEnergy transition in the Middle East\u201d<\/strong> is the subject of a MEED webinar next Tuesday, 24 August. The event will focus on the impact of energy transition in the region, the effects of covid-19 on the renewable energy sector, the potential of green hydrogen as well as a review of Middle East energy policy and investment and the outlook for MENA renewable energy development. You can register for the webinar <a href=\"https:\/\/globaldata.zoom.us\/webinar\/register\/3516013038025\/WN_fCaZN7DlQUeM-epxgydoFg\">here<\/a>.<\/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>FOR YOUR COMMUTE-<\/strong><\/p>\n<p><a id=\"tldr-story-07\" class=\"content-anchor\"><\/a><strong> Stop us if you\u2019ve heard this one before: \u201c<\/strong><strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-08-18\/junior-bankers-have-seized-the-upper-hand-on-wall-street-for-now?srnd=premium-middle-east&sref=mmeFTDW1\">Junior bankers have seized the upper hand on<\/a><\/strong><strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-08-18\/junior-bankers-have-seized-the-upper-hand-on-wall-street-for-now?srnd=premium-middle-east&sref=mmeFTDW1\">Wall Street, for now<\/a><\/strong><strong>,\u201d <\/strong>Bloomberg Businessweek declares in a feature out today, noting that banks are raising salaries (<a href=\"https:\/\/www.marketwatch.com\/story\/goldman-sachs-is-giving-entry-level-bankers-a-nearly-30-raise-11628006258#:~:text=Junior%20bankers%20at%20Goldman%20Sachs,person%20familiar%20with%20the%20matter.\">Goldman Sachs<\/a> was the most recent to have done so) in the race to attract talent because \u201cpotential recruits are balking at 100-plus-hour weeks.\u201d Sure, that\u2019s one way to do it. But even if you (like us) accept that there are lots of snowflakes out there who want plenty of money for very little delivery on their end: <strong>There is simply no excuse for 100-hour workweeks. <\/strong>Not in finance. Not in medicine. Not in any profession or at any age. Life is short \u2014 you\u2019re not being a snowflake by digging your heels in on 100-hour weeks.<\/p>\n<p><strong>More state than capitalism: China is upping the stakes once again in its Great Capitalist <\/strong><strong>Smackdown<\/strong>, as President Xi Jinping <a href=\"https:\/\/www.ft.com\/content\/87c3aa02-f970-48c8-b795-82768c9f7634\">calls<\/a>for wealth redistribution to \u201cregulate excessively high incomes and encourage high-income groups and enterprises to return more to society.\u201d His comments are the latest in a series of shots by the ruling Chinese Communist Party across the bow of private capital, including new regulations targeting <a href=\"https:\/\/www.reuters.com\/world\/china\/chinas-tal-education-expects-hit-new-private-tutoring-rules-2021-07-25\/\">private education<\/a> and <a href=\"https:\/\/www.ft.com\/content\/baad4a14-efac-4601-8ce4-406d5fd8f2a7\">Big Tech<\/a> that saw <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-07-30\/investors-lose-1-trillion-in-china-s-wild-week-of-market-shocks?sref=mmeFTDW1\">USD 1 tn<\/a> wiped off the value of Chinese stocks in one week last month.<\/p>\n<p><strong>It all looks very much like China is <\/strong><strong><a href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2021-08-04\/don-t-doubt-china-s-marxism-capitalism-s-just-a-phase-toward-communism?sref=mmeFTDW1\">rediscovering<\/a><\/strong><strong> its ideological roots after a <\/strong><strong>decades-long affair with the capitalist system<\/strong>, as Xi vows to take away the spoils of economic reform hoarded by China\u2019s super-rich and expand the country\u2019s middle class. According to <a href=\"https:\/\/www.reuters.com\/breakingviews\/xis-wealth-redistribution-push-starts-with-stick-2021-08-18\/\">Reuters<\/a>, that could start with rescinding a preferential tax rate for internet companies, hiking the levy to 25% from 10% today, as well as a controversial new tax on China\u2019s property market, which contributes 70% to the country\u2019s massive wealth gap. Whatever the measures, they are likely to be harsh and uncompromising, meaning investors, businesses, and the independently wealthy would be best advised to tread carefully. As one entrepreneur told the <a href=\"https:\/\/www.ft.com\/content\/87c3aa02-f970-48c8-b795-82768c9f7634\">FT<\/a>: \u201cThe party wants to have a stronger say in your business and they want you to be more obedient.\u201d<\/p>\n<p><strong>As some sectors fall out of favor with the Chinese government, others are on the <\/strong><strong>rise\u2014chief among them renewable energy. <\/strong>China\u2019s green stock index <a href=\"https:\/\/www.ft.com\/content\/7bdbacc1-b7bb-49f7-8d75-e833b39202f3\">has risen 55%<\/a> over the past three months as investors shift to industries they think can avoid the wrath of the regulators. Advanced manufacturing and localization of technology also stand to benefit from the state\u2019s new anti-Big-Tech tack.<\/p>\n<p><strong>Over in the US, Big Tech led the exodus from the office at the start of the pandemic <\/strong><strong>\u2014 and now it wants its people back at their desks. <\/strong>That could open a space for smaller outfits that are willing to accept the additional challenges of managing a more-remote workforce, Elaine Moore argues in this opinion piece for the <a href=\"https:\/\/www.ft.com\/content\/83804182-8d28-431a-b722-9b8889adff00\">Financial Times<\/a>. We\u2019re still with Apple\u2019s Tim Cook on this one: He asked staff to return to the office three days a week starting in September (a date <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-07-20\/apple-will-postpone-return-to-office-after-covid-19-persists\">likely to be postponed at least a month<\/a> thanks to the fast spread of the delta variant in the US). \u201cFor all that we\u2019ve been able to achieve while many of us have been separated, the truth is that there has been something essential missing from this past year: each other,\u201d Cook said in a memo seen by <a href=\"https:\/\/www.theverge.com\/2021\/6\/2\/22465846\/apple-employees-return-office-three-days-week-september\">the Verge<\/a>. \u201cVideo conference calling has narrowed the distance between us, to be sure, but there are things it simply cannot replicate.\u201d<\/p>\n<hr class=\"grey-line\" \/>\n<p><strong>? <\/strong><strong>ON THE TUBE TONIGHT-<\/strong><\/p>\n<p><strong>Apple TV\u2019s short-form sports docuseries <\/strong><strong><a href=\"https:\/\/tv.apple.com\/us\/show\/greatness-code\/umc.cmc.4xpk6thd1574yu8hy2xdozyz6\">Greatness Code<\/a><\/strong><strong> is a work of art. <\/strong>The show showcases the untold stories of major athletes including LeBron James, Tom Brady, Alex Morgan, Shaun White and Usain Bolt. Each episode (all under six minutes) explores a pivotal moment that defined the athlete\u2019s career by offering intimate and descriptive monologues by each athlete with footage visualized in a dramatic greyscale. With music scores from renowned musicians and stunning visual effects, the artistic miniseries is a bite-sized motivator for viewers, showing how a single event or decision can become a turning point in someone\u2019s life.<\/p>\n<p>\u26bd<strong>AFCON draw: Egypt will <\/strong><strong><a href=\"https:\/\/www.cafonline.com\/total-africa-cup-of-nations\/news\/totalenergies-afcon-cameroon-2021-updated-match-schedule\">face<\/a><\/strong><strong>three-time African champions Nigeria in their group\u2019s first match in the twice-delayed African Cup of Nations (AFCON) <\/strong>in Cameroon. The draw for Africa\u2019s biggest football event, which will take place next January after being postponed <a href=\"https:\/\/www.bbc.com\/sport\/africa\/58241452\">twice<\/a>over wet weather and covid concerns, saw lesser threats<strong> Sudan <\/strong>and <strong>Guinea-Bissau<\/strong> join Egypt and Nigeria in Group D.<\/p>\n<hr class=\"grey-line\" \/>\n<p>?<strong> OUT AND ABOUT- <\/strong>(all times CLT)<\/p>\n<p><strong>The quick-footed can probably still catch today\u2019s mandala drawing workshop<\/strong> at the Monalisa Art Zone in Zamalek, running from 5-8pm. The cost is EGP 150 excluding materials \u2014 check <a href=\"https:\/\/web.facebook.com\/events\/337383411298858\/?acontext=%7B%22event_action_history%22%3A[%7B%22mechanism%22%3A%22search_results%22%2C%22surface%22%3A%22bookmark%22%7D]%2C%22ref_notif_type%22%3Anull%7D&_rdc=1&_rdr\">the Facebook page<\/a> to find out how to register and what you need to bring.<\/p>\n<p><strong>It\u2019s retro pop night tonight over at Cairo Jazz Club in Agouza,<\/strong> with BubbleGum Kollectiv spinning tunes designed to send you bopping all the way back to the \u201890s. Reservations can be made through <a href=\"https:\/\/web.facebook.com\/events\/258001592550319\">the CJC Facebook page<\/a> until 8pm.<\/p>\n<p><strong>And Room Art Space and Cafe in Garden City is hosting a stand up comedy night <\/strong>featuring the Comedy Bunch, starting 9pm tonight. Tickets are EGP 150 and can be purchased directly through the branch or through the link on <a href=\"https:\/\/web.facebook.com\/events\/374299390876067\">the Facebook page<\/a>.<\/p>\n<hr class=\"grey-line\" \/>\n<p><strong>? UNDER THE LAMPLIGHT-<\/strong><\/p>\n<p><a id=\"tldr-story-08\" class=\"content-anchor\"><\/a><strong> Don\u2019t buy the VC hype: There is nothing wrong with building a \u201clifestyle\u201d business <\/strong>\u2014 many of which will still be around and creating value for their owners and communities generations after the latest hot tech business raised its Series DDD\u2026<\/p>\n<p><strong>Why staying small is the next best thing for business <\/strong>is the subhead of Paul Jarvis\u2019s book <a href=\"https:\/\/www.amazon.com\/Company-One-Staying-Small-Business-ebook\/dp\/B078962RHQ\/ref=tmm_kin_swatch_0?_encoding=UTF8&qid=&sr=\">Company of One<\/a>. The idea may sound counterintuitive, as firms are always in a constant scramble to scale up operations and teams. \u201cBy staying small, one can have freedom to pursue more meaningful pleasures in life,\u201d argues Jarvis pointing to large firms\u2019 struggles with employees, long meetings, funding, and expansions. Company of One sees success as a constant cashflow that keeps the business running sustainably while foregoing a constant headache. It\u2019s a bit of a hippy prospect to go against the system that constantly demands more productivity, more output, and more growth, but maybe there\u2019s merit to being an entrepreneur that is satisfied with the place they\u2019re in now.<\/p>\n<p><strong>Want to dive deeper? The idea isn\u2019t new: <\/strong><a href=\"https:\/\/www.amazon.com\/Small-Giants-Companies-Instead-10th-Anniversary-ebook\/dp\/B010N18JVC\/\">The classic work on the subject is the exceptionally<\/a><a href=\"https:\/\/www.amazon.com\/Small-Giants-Companies-Instead-10th-Anniversary-ebook\/dp\/B010N18JVC\/\">readable<\/a><strong><a href=\"https:\/\/www.amazon.com\/Small-Giants-Companies-Instead-10th-Anniversary-ebook\/dp\/B010N18JVC\/\">Small Giants: Companies that chose to be great instead of big<\/a><\/strong>, by Bo Burlingham, which profiles 14 businesses. Without resorting to case studies, Burlingham talks with founders about why they \u201cquietly rejected the pressure of endless growth, deciding to focus on more satisfying business goals.\u201d<\/p>\n<p><strong>It\u2019s one of a handful of business books we keep around in large quantities to give to <\/strong><strong>friends<\/strong> thinking of starting their own business. Also worth a moment of your time: <a href=\"https:\/\/smallgiants.org\/\">Check out the related organization by the same name<\/a> (co-founded by Burlington).<\/p>\n<hr class=\"grey-line\" \/>\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- The heat wave continues.<\/strong> Expect a daytime high of 40\u00b0C and nighttime low of 28\u00b0C in Cairo. Sahel will remain breezier, with a daytime high of 32\u00b0C and an overnight low of 25\u00b0C, 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\/afghanistan\/\">Afghanistan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/entrepreneurship\/\">entrepreneurship<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/goldman-sachs\/\">Goldman Sachs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/office-life\/\">office life<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/technology\/\">technology<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/work-from-home\/\">Work from home<\/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=\"564232\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240927.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/mashreq.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27486.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Rise every day<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-k1d9ljr\" data-v=\"4\" data-block-id=\"k1d9ljr\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-k1d9ljr-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-k1d9ljr-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240928.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.beltoneholding.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27484.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Where disruption meets success<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-49090cd\" data-v=\"4\" data-block-id=\"49090cd\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-49090cd-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-49090cd-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240936.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/cira.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27480.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Shaping the future of education in Egypt<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"564233\" 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=\"564233\">\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\">SPEED ROUND: M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/18\/fund-run-by-rachid-mohamed-rachid-buys-stake-in-egyptian-handbag-brand-okhtein\/\">\r\n                            Fund run by Rachid Mohamed Rachid buys stake in Egyptian handbag brand Okhtein                        <\/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\" 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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\/2021\/08\/18\/fund-run-by-rachid-mohamed-rachid-buys-stake-in-egyptian-handbag-brand-okhtein\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/466.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"564234\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/18\/fund-run-by-rachid-mohamed-rachid-buys-stake-in-egyptian-handbag-brand-okhtein\/466-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/466.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"466.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/466.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/466.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-564233\" class=\"content-area-description single-story post-564233 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round-ma-watch tag-bidayat tag-enterprisepm tag-fashion tag-ma-watch tag-rachid-mohamed-rachid wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-01\" class=\"content-anchor\"><\/a><strong> Mediterranean-focused investment fund <\/strong><strong><a href=\"https:\/\/www.bidayat.com\/#about\">Bidayat<\/a><\/strong><strong> has acquired a stake in luxury Egyptian <\/strong><strong>handbag brand <\/strong><strong><a href=\"https:\/\/eg.okhtein.com\/\">Okhtein<\/a><\/strong>, Okhtein CEO Mohamed Abdel Raouf told Enterprise without disclosing the financial details of the agreement.<\/p>\n<p><strong>The family-run bag designer will use Bidayat\u2019s fashion industry know-how to boost its <\/strong><strong>product design, merchandising, and supply-chain management<\/strong> as it restructures for global expansion, according to Abdel Raouf. Okhtein hopes the partnership will help it further strengthen its international e-commerce presence after online sales shot up 157% y-o-y in 2020, he said.<\/p>\n<p><strong>Bidayat invests in creative brands in the Mediterranean region and is a sub-fund of the <\/strong><strong>Swiss-based Alsara Investment Group<\/strong>, which has recently embarked on a string of partnerships with high-profile fashion brands, buying a stake in Swiss eyewear start-up<a href=\"https:\/\/www.instagram.com\/akonigroup\/\">Akoni Group<\/a> and <a href=\"https:\/\/alfegypt.com\/2021\/07\/12\/alsara-investment-group-acquires-khrisjoy\/\">acquiring<\/a>a majority share in puffer-jacket brand <a href=\"https:\/\/www.khrisjoy.com\/it\/home\">Khrisjoy<\/a>.<\/p>\n<p><strong>Bidayat is run by former Egyptian trade and industry minister <\/strong><a href=\"https:\/\/www.valentino.com\/en-gb\/world-of-valentino\/maison\">Rachid Mohamed Rachid<\/a>, who is now chairman of fashion giants Valentino in Italy and Balmain in France, as well as CEO of Qatari luxury goods investment vehicle <a href=\"https:\/\/www.mayhoola.com\/\">Mayhoola<\/a>.<\/p>\n<p><strong>Advisors:<\/strong> MHR in association with White & Case LLP for Okhtein, and Alliance Law Firm for Bidayat, according to an emailed <a href=\"https:\/\/ent.news\/2021\/8\/Okhtein-Bidaya.pdf\">press release (pdf)<\/a> from Okhtein.<\/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\/bidayat\/\">Bidayat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fashion\/\">fashion<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/rachid-mohamed-rachid\/\">Rachid Mohamed Rachid<\/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=\"564235\" 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=\"564235\">\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\">SPEED ROUND: CAPITAL MARKETS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/18\/contact-offering-margin-to-hc-brokerages-clients\/\">\r\n                            Contact offering margin to HC Brokerage\u2019s clients                        <\/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\/2021\/08\/18\/contact-offering-margin-to-hc-brokerages-clients\/\" 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\/2021\/08\/18\/contact-offering-margin-to-hc-brokerages-clients\/')\">\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\/2021\/08\/18\/contact-offering-margin-to-hc-brokerages-clients\/\">\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=Contact offering margin to HC Brokerage\u2019s clients&url=https:\/\/enterpriseam.com\/egypt\/2021\/08\/18\/contact-offering-margin-to-hc-brokerages-clients\/\">\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\/2021\/08\/18\/contact-offering-margin-to-hc-brokerages-clients\/&title=Contact offering margin to HC Brokerage\u2019s clients\">\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=Contact+offering+margin+to+HC+Brokerage%E2%80%99s+clients+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F08%2F18%2Fcontact-offering-margin-to-hc-brokerages-clients%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\/2021\/08\/18\/contact-offering-margin-to-hc-brokerages-clients\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/468.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"564236\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/18\/contact-offering-margin-to-hc-brokerages-clients\/468-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/468.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"468.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/468.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/468.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-564235\" class=\"content-area-description single-story post-564235 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round-capital-markets tag-capital-markets tag-egx tag-enterprisepm tag-margin-trading 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>Contact to finance HC Brokerage\u2019s margin traders: <\/strong>Contact Financial Holding\u2019s arm Contact Factoring will finance margin trading by clients of HC Brokerage after signing an agreement with the firm, according to a <a href=\"https:\/\/ent.news\/2021\/8\/HC-Contact-Coop-Agreement-PRL-Ar.pdf\">joint statement (pdf)<\/a>. The non-bank lender will loan EGP 400 mn initially, with each client being eligible for up to EGP 3 mn in finance, Contact Group CFO Ayman El Sawy tells us.<\/p>\n<p><strong>There\u2019s more where that came from<\/strong>: Contact Factoring aims to seal two to three more EGP 400 mn agreements with brokerage companies before the end of this year, El Sawy says, without disclosing names.<\/p>\n<p><strong>Factoring companies got the regulatory green light <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c677777d-8336-466e-a0d4-4b6343b426f7\">to finance margin lending<\/a><\/strong><strong> in March<\/strong>, in a move that aims to provide new funding sources to retail investors and boost trading volumes on the EGX. Later the same month, the central bank allocated <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f05c21e8-cfa0-4ffa-a016-e59cca9ba55a\">EGP 1 bn to a newly-created fund<\/a> that will be deployed to support margin lending. In early August, the EGX changed up its list of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/35b1fa97-327f-428f-94e3-ca4b176a818f\">shares eligible for margin trading<\/a> as part of its biannual rebalancing.<\/p>\n<p><strong>The regulator could place limits on margin trading: <\/strong>The Financial Regulatory Authority is considering whether to tweak restrictions on margin trading to reduce financial risk. Proposals on the table would prevent individual investors from purchasing on margin more than 1% of a company\u2019s market cap or 2% of its shares in freefloat. The FRA\u2019s advisory committee proposed these measures in March in a bid to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/509c136b-b9d7-44ea-b407-e4390b8ce918\">mitigate the risk of a boom<\/a> in investing borrowed funds on the EGX, amid expectations that margin trading could rise to as much as <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/509c136b-b9d7-44ea-b407-e4390b8ce918\">EGP 75 bn in the coming years<\/a>. A final decision is yet to be made by the authority.<\/p>\n<p><strong>Want to know more about margin trading and factoring?<\/strong> We have in-depth explainers <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/33dbee3e-f89b-4b93-97f2-5b7f32b7fe24\">here<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6604a04a-9370-42f1-a7a3-e3af5dfc0357\">here<\/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\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/margin-trading\/\">Margin Trading<\/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=\"564237\" 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=\"564237\">\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\">SPEED ROUND: DEVELOPMENT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/18\/germany-has-eur-151-mn-for-development-in-egypt\/\">\r\n                            Germany has EUR 151 mn for development in Egypt                        <\/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\/2021\/08\/18\/germany-has-eur-151-mn-for-development-in-egypt\/\" 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\/2021\/08\/18\/germany-has-eur-151-mn-for-development-in-egypt\/')\">\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\/2021\/08\/18\/germany-has-eur-151-mn-for-development-in-egypt\/\">\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=Germany has EUR 151 mn for development in Egypt&url=https:\/\/enterpriseam.com\/egypt\/2021\/08\/18\/germany-has-eur-151-mn-for-development-in-egypt\/\">\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\/2021\/08\/18\/germany-has-eur-151-mn-for-development-in-egypt\/&title=Germany has EUR 151 mn for development in Egypt\">\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=Germany+has+EUR+151+mn+for+development+in+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F08%2F18%2Fgermany-has-eur-151-mn-for-development-in-egypt%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\/2021\/08\/18\/germany-has-eur-151-mn-for-development-in-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/469.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"564238\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/18\/germany-has-eur-151-mn-for-development-in-egypt\/469-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/469.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"469.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/469.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/469.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-564237\" class=\"content-area-description single-story post-564237 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round-development tag-enterprisepm tag-germany tag-speed-round-development wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Egypt will receive EUR 151 mn in grant money from Germany to support <\/strong><strong>development projects<\/strong>, the International Cooperation Ministry said in <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/203848001785628\">a statement<\/a> this afternoon. The funds are earmarked for 15 projects across a range of sectors, including technical education, urban development and renewable energy.<\/p>\n<p><strong>A little history: <\/strong>Germany is a longstanding partner of Egypt and is presently financing 30 ongoing projects in addition to having pledged to provide EUR 1.7 bn via loans, grants and debt swaps. This year alone saw a number of agreements between the two countries: <a href=\"http:\/\/www.moic.gov.eg\/en-US\/News\/GetNewsDetails?na=6899\">12 financing agreements worth EUR 197 mn<\/a> were signed during the first six months of the year, and the German development bank (KfW) is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/39b93fe3-406a-43b5-9839-c0c3f2eb8732\">providing Egypt with EUR 41 mn<\/a> to support technical and vocational education via a debt-for-development arrangement.<\/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\/germany\/\">Germany<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/speed-round-development\/\">SPEED ROUND: DEVELOPMENT<\/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=\"564239\" 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=\"564239\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">SPEED ROUND: EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/18\/earnings-watch-efg-hermes-palm-hills\/\">\r\n                            Earnings Watch: EFG Hermes, Palm Hills                        <\/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\/2021\/08\/18\/earnings-watch-efg-hermes-palm-hills\/\" 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\/2021\/08\/18\/earnings-watch-efg-hermes-palm-hills\/')\">\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\/2021\/08\/18\/earnings-watch-efg-hermes-palm-hills\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Earnings Watch: EFG Hermes, Palm Hills&url=https:\/\/enterpriseam.com\/egypt\/2021\/08\/18\/earnings-watch-efg-hermes-palm-hills\/\">\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\/2021\/08\/18\/earnings-watch-efg-hermes-palm-hills\/&title=Earnings Watch: EFG Hermes, Palm Hills\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Earnings+Watch%3A+EFG+Hermes%2C+Palm+Hills+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F08%2F18%2Fearnings-watch-efg-hermes-palm-hills%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\/2021\/08\/18\/earnings-watch-efg-hermes-palm-hills\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/473.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"564240\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/18\/earnings-watch-efg-hermes-palm-hills\/473-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/473.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"473.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/473.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/473.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-564239\" class=\"content-area-description single-story post-564239 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round-earnings-watch tag-banking tag-earnings tag-earnings-watch tag-efg-hermes tag-enterprisepm tag-karim-awad tag-palm-hills-developments tag-yasseen-mansour wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>EARNINGS WATCH - EFG Hermes\u2019 net income rose 24% in 2Q2021<\/strong>, driven by growth in its non-bank lending subsidiaries and a solid performance in its investment banking arm, according to the firm\u2019s <a href=\"https:\/\/ent.news\/2021\/8\/EFG-Hermes-2Q2021-Earnings-Release.pdf\">earnings release (pdf)<\/a>. The financial services corporation reported earnings of EGP 406 mn during the three-month period, up from EGP 328 mn in the same period last year on the back of strong top-line growth.<\/p>\n<p><strong>Revenues for the quarter rose 20% to EGP 1.6 bn<\/strong>, underpinned by a 62% rise in non-banking financial services revenues, which totalled EGP 483 mn. Sell-side revenues rose 69% to EGP 493 mn, helped by an uptick in advisory fees and transactions which almost tripled income from its investment banking arm. On the buy-side, revenues shrugged off a dip in private equity income to rise 70%, helped by strong revenues from asset management which more than doubled to EGP 142 mn.<\/p>\n<p><strong>Despite its positive performance for the quarter, the group remains cautious for the rest of the year:<\/strong> \u201cHeading into the second half of the year, we remain cognizant of the potential for a new wave of covid-19-related challenges and geopolitical headwinds which impact the pace of economic recovery across global markets,\u201d <a href=\"https:\/\/www.efghermes.com\/en\/newsroom-km\/earnings-release-second-quarter-2021\">group CEO Karim Awad said<\/a>.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Palm Hills Developments saw its bottom line grow 41% to EGP 278.2 mn in <\/strong><strong>2Q2021<\/strong>, compared to EGP 197.4 mn in the same period last year, according to the real estate company\u2019s <a href=\"https:\/\/ent.news\/2021\/8\/PHD_-_2Q2021_Earnings_Release_-_English.pdf\">earnings release (pdf)<\/a>. Revenues more than doubled to more than EGP 2 bn during the April-June period, helped by a jump in new residential and commercial sales, which rose 63% to EGP 4.3 bn.<\/p>\n<p><strong>By our math, PHD sold <\/strong><strong>920 units<\/strong><sup><\/sup><strong> during the quarter<\/strong>, more than double the 401 in 2Q2020<sup><\/sup> and up from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/03453587-ff65-4471-8aa6-b00fbc85b4bf\">488<\/a> sold during 1Q2021. The 1H2021 growth was mainly supported by new sales witnessed in West Cairo (mainly Badya and the Crown), which rose 54% to EGP 3.2 bn and accounted for 42% of the overall sales. This is followed by Sahel, Alexandria, and Ain Sokhna, which brought in EGP 3.1 bn and accounted for 40% of the company\u2019s sales. The company made EGP 1.4 bn in revenues from units in East Cairo.<\/p>\n<p><strong>Looking forward<\/strong>, the company will finalize several financing agreements before the end of this year \u201cin the form of on and off-balance sheet financing including the securitization of receivables, syndications with banks,\u201d as well as the company\u2019s first long-term <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a40d14db-a58a-4cdc-8938-0232d8068c6e\">sukuk issuance worth EGP 5.5 bn<\/a>, said Executive Chairman Yasseen Mansour.<\/p>\n<p><strong>CATCH UP QUICK- <\/strong><\/p>\n<p><strong>IDH subsidiary to run PCR tests in Amman\u2019s airport: <\/strong>Biolab, a Jordanian subsidiary of the EGX- and LSE-listed Egyptian healthcare group Integrated Diagnostics Holdings, will operate PCR testing stations at Amman\u2019s Queen Alia International Airport, the company said in <a href=\"https:\/\/ent.news\/2021\/8\/IDH-Biolab-and-QAIA-PR-E.pdf\">a statement (pdf)<\/a> this morning.<\/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\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/karim-awad\/\">Karim Awad<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palm-hills-developments\/\">Palm Hills Developments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/yasseen-mansour\/\">Yasseen Mansour<\/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=\"564241\" 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=\"564241\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/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\/2021\/08\/18\/fawry-completes-egp-1-2-bn-follow-on-share-sale\/\">\r\n                            Fawry completes EGP 1.2 bn follow-on share sale                        <\/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\/2021\/08\/18\/fawry-completes-egp-1-2-bn-follow-on-share-sale\/\" 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\/2021\/08\/18\/fawry-completes-egp-1-2-bn-follow-on-share-sale\/')\">\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\/2021\/08\/18\/fawry-completes-egp-1-2-bn-follow-on-share-sale\/\">\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=Fawry completes EGP 1.2 bn follow-on share sale&url=https:\/\/enterpriseam.com\/egypt\/2021\/08\/18\/fawry-completes-egp-1-2-bn-follow-on-share-sale\/\">\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\/2021\/08\/18\/fawry-completes-egp-1-2-bn-follow-on-share-sale\/&title=Fawry completes EGP 1.2 bn follow-on share sale\">\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=Fawry+completes+EGP+1.2+bn+follow-on+share+sale+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F08%2F18%2Ffawry-completes-egp-1-2-bn-follow-on-share-sale%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\/2021\/08\/18\/fawry-completes-egp-1-2-bn-follow-on-share-sale\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-564241\" class=\"content-area-description single-story post-564241 post type-post status-publish format-standard hentry category-go-with-the-flow tag-banking tag-efg-hermes tag-enterprisepm tag-fawry 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>Fawry comp<\/strong><strong>letes EGP 1.2 bn follow-on share sale:<\/strong> Several shareholders in Egypt\u2019s leading e-payments firm Fawry have sold a 4.3% stake in the company in a follow-on share sale on the EGX, <a href=\"https:\/\/ent.news\/2021\/8\/EGX-Fawry-stake-sale-1600px.jpg\">the bourse<\/a> and <a href=\"https:\/\/ent.news\/2021\/8\/EFG-Hermes-Press-Release-Fawry-AEO-ENG-converted.pdf\">transaction advisor EFG Hermes (pdf)<\/a> said this morning. The 73.9 mn shares were sold by the Egyptian American Enterprise Fund (EAEF), private equity investor Helios, asset manager <a href=\"https:\/\/www.responsability.com\/en\">responsAbility<\/a>, and Black Sparrow for EGP 1.2 bn (USD 79.8 mn). The EAEF and Helios were among 40 shareholders who <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/58d697a3-2df3-4b62-8070-87e9bcf2d46e\">last year transferred the ownership<\/a> of a 63.99% stake in Fawry previously held by PSI Netherlands Holding to indirect shareholders.<\/p>\n<p><strong>Fawry shares fall:<\/strong> Fawry\u2019s shares dipped by 3.1% to EGP 17.59 per share at today\u2019s close. Shares are up 25% year-to-date.<\/p>\n<p><strong>Advisors:<\/strong> EFG Hermes acted as the sole financial advisor, as well as a joint bookrunner alongside Renaissance Capital. This isn\u2019t the first time the investment bank has worked with Fawry, closing the USD 50 mn sale of a 7% stake in the company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a7d69c35-a9e6-4e64-bf71-eb5a87ef0c7a\">last year<\/a>.<\/p>\n<hr class=\"grey-line\" \/>\n<p><strong>MARKET WATCH-<\/strong><\/p>\n<p><strong>The EGX30 fell 0.2% at today\u2019s close<\/strong> on turnover of EGP 2.3 bn (40.8% above the 90-day average). Foreign investors were net sellers. The index is up 0.6% YTD.<\/p>\n<p><strong>In the green:<\/strong> Raya (+2.8%), GB Auto (+1.6%), and Rameda (+1.0%).<\/p>\n<p><strong>In the red:<\/strong> Egyptian Resorts Company (-4.0%), Fawry (-3.1%), and Eastern Company (-1.8%).<\/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\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fawry\/\">Fawry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/go-with-the-flow\/\">Go with the Flow<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"564242\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"564243\" 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=\"564243\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">THE MACRO PICTURE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/18\/china-no-longer-an-em-says-blackrock\/\">\r\n                            China no longer an EM, says BlackRock                        <\/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\/2021\/08\/18\/china-no-longer-an-em-says-blackrock\/\" 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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BlackRock is recommending that indexes and investors raise their exposure to Chinese equities and bonds by \u201ctwo to three times\u201d in response to the increasing size of the market and reforms being carried out by the government. \u201cChina is under-represented in global investors\u2019 portfolios but also, in our view, in global benchmarks,\u201d Wei Li, chief investment strategist at the BlackRock Investment Institute, told the salmon-colored newspaper.<\/p>\n<p><strong>Indexes aren\u2019t reflecting reality:<\/strong> Despite having the world\u2019s second-biggest equity market and second-largest bond market, China\u2019s representation in global benchmarks remains low. The country has a weighting of just <a href=\"https:\/\/www.msci.com\/documents\/10199\/8d97d244-4685-4200-a24c-3e2942e3adeb\">4.1% (pdf)<\/a> in the <a href=\"https:\/\/www.msci.com\/acwi\">MSCI All-World index<\/a>, a number that BlackRock says should be closer to 10%, putting Chinese assets ahead of Japan but still far behind the US, which accounts for almost 60% of the index. Currently, the weighting of the three biggest tech companies \u2014 Apple, Microsoft and Amazon \u2014 is more than double China\u2019s.<\/p>\n<p><strong>Why is one of the world\u2019s most powerful economies still considered emerging?<\/strong> China may be on course to <a href=\"https:\/\/www.bbc.com\/news\/world-asia-china-55454146\">overtake the US<\/a> to become the world\u2019s largest economy later this decade, but it is its population size that continues to keep it in the EM camp. Despite its size, it is still firmly a middle-income country, with a per capita GDP of around <a href=\"https:\/\/data.worldbank.org\/indicator\/NY.GDP.PCAP.CD?locations=CN\">USD 10.5k<\/a> last year, far below the US\u2019 <a href=\"https:\/\/data.worldbank.org\/indicator\/NY.GDP.PCAP.CD?locations=US\">USD 63.5k<\/a>, Germany\u2019s <a href=\"https:\/\/data.worldbank.org\/indicator\/NY.GDP.PCAP.CD?locations=DE\">USD 45.7k<\/a>, and Japan\u2019s <a href=\"https:\/\/data.worldbank.org\/indicator\/NY.GDP.PCAP.CD?locations=JP\">USD 40.1k<\/a>.<\/p>\n<p><strong>Neither DM nor EM, but something in-between:<\/strong> Calling for investors to rethink how they conceptualize the Chinese economy doesn\u2019t mean it will finally be considered among the small club of \u201cdeveloped markets.\u201d Instead, BlackRock thinks it\u2019s somewhere in the middle, describing it as a \u201cdistinct pole of global growth\u201d in its <a href=\"https:\/\/www.blackrock.com\/corporate\/insights\/blackrock-investment-institute\/publications\/outlook\">mid-year outlook<\/a> last month. \u201cWe believe it is time to also treat it as an investment destination separate from EM and DM,\u201d it wrote. \u201cChina\u2019s economy has come through the covid-19 shock stronger than global peers, just as it did after the global financial crisis.\u201d<\/p>\n<p><strong>China\u2019s tech bros are under fire: <\/strong>BlackRock\u2019s optimism comes amid a widening government crackdown on its tech companies which has caused significant volatility in equity markets and stirred fears that wider market restrictions could be introduced by the Chinese Communist Party. The Hang Seng Tech Index has plunged almost 40% year-to-date<sup><\/sup> amid the escalating anti-tech campaign, which has seen companies issued fines, undergo forced restructurings, and face regulatory directives over data security and market competition.<\/p>\n<p><strong>But the country has also moved to liberalize finance:<\/strong> Drawn by <a href=\"https:\/\/www.ey.com\/en_eg\/banking-capital-markets\/how-china-financial-liberalization-can-unlock-new-opportunities\">China\u2019s gradual opening of its financial sector<\/a> and the huge market, Western financial institutions are becoming ever more attracted to China. Now able to fully own their local subsidiaries and finding it easier to obtain licenses and <a href=\"https:\/\/www.wsj.com\/articles\/jpmorgan-to-buy-410-million-stake-in-chinese-banks-wealth-business-11616158788\">make acquisitions<\/a>, banks and asset managers including <a href=\"https:\/\/www.bloomberg.com\/graphics\/2019-icbc-vs-jpmorgan\/?sref=mmeFTDW1\">JPMorgan<\/a>, <a href=\"https:\/\/www.reuters.com\/article\/ubs-group-china-idUSL4N2LA2G1\">UBS<\/a>, <a href=\"https:\/\/www.reuters.com\/article\/us-china-amundi-expansion-idUSKBN26L2W8\">Amundi<\/a>, and <a href=\"https:\/\/www.ft.com\/content\/3fd79007-e556-4f04-aa6e-43557652890f\">BlackRock<\/a> itself are expanding their operations in China.<\/p>\n<p><strong>Despite worries over tighter regulations, BlackRock remains bullish on Chinese assets:<\/strong> At a time of ultra-low rates and spiralling debt across the developed world, the Chinese central bank\u2019s orthodox monetary policy will mean that its financial system will face lower fewer risks and be more attractive to investors going forward, the BII said in its reports. In what it calls a \u201cquality revolution,\u201d BlackRock says that policy is focusing on the quality of economic growth, rather than the quantity. \u201cChina is pushing through reforms that could weigh on the quantity of growth in the near term but potentially improve the quality in the long run,\u201d it wrote in the report.<\/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\/blackrock\/\">BlackRock<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bonds\/\">Bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/equities\/\">equities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jpmorgan\/\">JPMorgan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/msci\/\">MSCI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/the-macro-picture\/\">THE MACRO PICTURE<\/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=\"564245\" 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\/2021\/08\/18\/your-essential-business-calendar-on-18-august-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-564245\" class=\"content-area-description single-story post-564245 post type-post status-publish format-standard hentry category-calendar tag-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>24 August (Tuesday): MEED will hold a webinar named <a href=\"https:\/\/globaldata.zoom.us\/webinar\/register\/3516013038025\/WN_fCaZN7DlQUeM-epxgydoFg\">Energy Transition in the<\/a><a href=\"https:\/\/globaldata.zoom.us\/webinar\/register\/3516013038025\/WN_fCaZN7DlQUeM-epxgydoFg\">Middle<\/a><sup><\/sup><a href=\"https:\/\/globaldata.zoom.us\/webinar\/register\/3516013038025\/WN_fCaZN7DlQUeM-epxgydoFg\">East<\/a>.<\/p>\n<p>26-28 August (Thursday-Saturday): <a href=\"https:\/\/www.kansascityfed.org\/research\/jackson-hole-economic-symposium\/\">Jackson Hole Economic Symposium<\/a>.<\/p>\n<p>September: Delegation of Russian companies to visit Russian Industrial Zone.<\/p>\n<p>1-3 September (Wednesday-Friday): <a href=\"https:\/\/digisignafrica.com\/\">Digi Sign Africa<\/a>, Cairo International Convention Centre, Cairo, Egypt.<\/p>\n<p>2 September (Thursday): The new EGX mechanism for calculating closing share prices will come into effect.<\/p>\n<p>3-5 September (Friday-Sunday): The World Karate Federation will hold <a href=\"https:\/\/www.wkf.net\/news-center-new\/cairo-replaces-tashkent-as-host-of-2021-karate-1-premier-league\/1606\">the third competition<\/a> of the 2021 Karate 1-Premier League in Cairo.<\/p>\n<p>5-7 September (Sunday-Tuesday): The <a href=\"https:\/\/www.arabsecurityconference.com\/\">Arab Security Conference<\/a>, The Nile Ritz-Carlton, Cairo, Egypt.<\/p>\n<p>7-8 September (Tuesday-Wednesday): Euromoney Conferences will host <a href=\"https:\/\/bit.ly\/3lpLeUO\">the GlobalCapital Sustainable and Responsible Capital Markets Forum 2021<\/a>, featuring Vice Minister of Finance Minister Ahmed Kouchouk.<\/p>\n<p>7-9 September (Tuesday-Thursday): <a href=\"https:\/\/www.egyhealthexpo.com\/\">Egy Health Expo<\/a>, Al Manara International Conference, Cairo, Egypt.<\/p>\n<p>9 September (Thursday): <a href=\"https:\/\/devopsdays.org\/events\/2021-cairo\/welcome\/\">DevOpsDays Cairo 2021<\/a> is being organized by ITIDA and the Software Engineering Competence Center in cooperation with DXC Technology, IBM Egypt and Orange Labs.<\/p>\n<p>12 September (Sunday): International schools begin 2021-2022 academic year<\/p>\n<p>12-15 September (Sunday-Wednesday): Sahara Expo: the 33rd International Agricultural Exhibition for Africa and the Middle East.<\/p>\n<p>15 September (Wednesday): The <a href=\"https:\/\/bit.ly\/3dp0wnB\">CFO Leadership & Strategy Summit<\/a> is taking place in Egypt.<\/p>\n<p>16 September (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>21-22 September (Tuesday-Wednesday): The Federal Reserve meets to review interest rates.<\/p>\n<p>22-25 September (Wednesday-Saturday): <a href=\"https:\/\/www.cityscapeegypt.com\/en\/Home.html\">Cityscape Egypt<\/a>, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>30 September-2 October (Thursday-Saturday): Egypt Projects 2021 expo, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>30 September-8 October (Thursday-Friday): The Cairo International Fair, Cairo International Conference Center, Cairo, Egypt.<\/p>\n<p>30 September: Closing of 2021\u2019s first oil and gas <a href=\"https:\/\/eug.petroleum.gov.eg\/dp\/pages\/common\/BidroundHighlights.jsp\">tender<\/a> in the Gulf of Suez, Western Desert, and the Mediterranean.<\/p>\n<p>October: New legislative session begins.<\/p>\n<p>October: Romanian President Klaus Iohannis <a href=\"https:\/\/bit.ly\/3z0gaic\">could visit Egypt<\/a> in mid this month to discuss ways to boost tourism cooperation between the two countries.<\/p>\n<p>1 October (Friday): Businesses importing goods at seaports will need to file shipping documents and cargo data digitally to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9bf7988d-19f6-45a6-ada1-65d7c23ec723\">the Advance Cargo Information (ACI) system<\/a>.<\/p>\n<p>1 October (Friday): Expo 2020 Dubai opens.<\/p>\n<p>1 October (Friday): State-owned companies and government service bodies selling goods and services to customers that <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/178309171006178\">have not yet signed on to the e-invoicing platform<\/a> will suffer a host of penalties, including removal from large taxpayer classification, losing access to government services and business, and losing subsidies.<\/p>\n<p>6 October (Wednesday): Armed Forces Day.<\/p>\n<p>7 October (Thursday): National holiday in observance of Armed Forces Day.<\/p>\n<p>9 October (Saturday): Public schools begin 2021-2022 academic year<\/p>\n<p>11-17 October (Monday-Sunday): <a href=\"https:\/\/www.worldbank.org\/en\/meetings\/splash\/annual\">IMF + World Bank Annual Meetings<\/a>.<\/p>\n<p>12-14 October (Tuesday-Thursday): Mediterranean Offshore Conference, Alexandria, Egypt.<\/p>\n<p>18 October (Monday): Prophet\u2019s Birthday.<\/p>\n<p>21 October (Thursday): National holiday in observance of the Prophet\u2019s Birthday.<\/p>\n<p>24-28 October (Sunday-Thursday) <a href=\"https:\/\/www.cairowaterweek.eg\/\">Cairo Water Week<\/a>, Cairo, Egypt.<\/p>\n<p>27-28 October (Wednesday-Thursday) <a href=\"https:\/\/platforms-root-technologies.com\/icec-2021\/\">Intelligent Cities Exhibition & Conference<\/a>, Royal Maxim Palace Kempinski, Cairo, Egypt.<\/p>\n<p>28 October (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>30 October - 4 November (Saturday-Thursday): The first edition of <a href=\"https:\/\/globalswimseries.com\/ryan-lochte-announces-first-race-the-legends-event-in-egypt\/\">Race The Legends<\/a>, Egypt.<\/p>\n<p>31 October - 12 November (Sunday-Friday): The 26th UN Climate Change Conference, Glasgow, UK.<\/p>\n<p>November: The French-Egyptian Business Forum is set to take place in the Suez Canal Economic Zone.<\/p>\n<p>November: Egypt will <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/163314772505618\">host another round of talks<\/a> to reach a potential Egyptian-Eurasian trade agreement, which can significantly contribute to increasing the volume of Egyptian exports to the Russia-led bloc that includes Armenia, Belarus, Kazakhstan and Kyrgyzstan.<\/p>\n<p>1-3 November (Monday-Wednesday): Egypt Energy exhibition on power and renewable energy, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>2-3 November (Tuesday-Wednesday): The Federal Reserve meets to review interest rates.<\/p>\n<p>1-12 November (Monday-Friday): 2021 United Nations Climate Change Conference (COP26), Glasgow, United Kingdom.<\/p>\n<p>29 November-2 December (Monday-Thursday): Egypt Defense Expo.<\/p>\n<p>7-8 December (Tuesday-Wednesday): <a href=\"https:\/\/northafricatradefinance.com\/\">North Africa Trade Finance Summit<\/a>.<\/p>\n<p>12-14 December (Sunday-Tuesday): <a href=\"http:\/\/www.foodafrica-expo.com\/\">Food Africa Cairo<\/a> trade exhibition, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>13-17 December: United Nations Convention against Corruption, Sharm El Sheikh, Egypt.<\/p>\n<p>14-19 December (Tuesday-Sunday): <a href=\"https:\/\/www.facebook.com\/cifcet\/\">The Cairo International Festival for Experimental Theater<\/a>.<\/p>\n<p>14-15 December (Tuesday-Wednesday): The Federal Reserve meets to review interest rates.<\/p>\n<p>16 December (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>14-16 February 2022 (Monday-Wednesday): Egypt Petroleum Show, Egypt International Exhibition Center, New Cairo, Egypt.<\/p>\n<p>1H2022: The World Economic Forum annual meeting, location TBD.<\/p>\n<p>May 2022: Investment in Logistics Conference, Cairo, Egypt.<\/p>\n<p>16 June 2022 (Thursday): End of 2021-2022 academic year for public schools<\/p>\n<p>27 June-3 July 2022 (Monday-Sunday): World University Squash Championships, New Giza.<\/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 below 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":564230,"template":"","categories":[],"tags":[],"class_list":["post-564229","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"ad9b688a-b4cf-4beb-a7b6-d352504f3020","teaser":"","photo_url":"https:\/\/ent.news\/2021\/8\/464.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>Fund run by Rachid Mohamed Rachid buys stake in Egyptian handbag brand Okhtein - 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\/fund-run-by-rachid-mohamed-rachid-buys-stake-in-egyptian-handbag-brand-okhtein\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fund run by Rachid Mohamed Rachid buys stake in Egyptian handbag brand Okhtein\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/fund-run-by-rachid-mohamed-rachid-buys-stake-in-egyptian-handbag-brand-okhtein\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T04:26:25+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/464.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\/fund-run-by-rachid-mohamed-rachid-buys-stake-in-egyptian-handbag-brand-okhtein\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/fund-run-by-rachid-mohamed-rachid-buys-stake-in-egyptian-handbag-brand-okhtein\/\",\"name\":\"Fund run by Rachid Mohamed Rachid buys stake in Egyptian handbag brand Okhtein - 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