{"id":566727,"date":"2021-07-11T14:05:39","date_gmt":"2021-07-11T14:05:39","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=566727"},"modified":"2025-12-16T05:31:59","modified_gmt":"2025-12-16T05:31:59","slug":"enterprise-the-year-of-ma-continues-with-elsewedy-raya-contact-center-entering-the-fray","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-the-year-of-ma-continues-with-elsewedy-raya-contact-center-entering-the-fray\/","title":{"rendered":"Enterprise  The year of M&#038;A continues with Elsewedy, Raya Contact Center entering the fray"},"content":{"rendered":"<section id=\"566729\" 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=\"566729\">\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\/07\/11\/tonight-cement-producers-say-hoorah-spacs-craze-coming-to-mena-also-head-to-sando-haus-in-diplo\/\">\r\n                            TONIGHT: Cement producers say hoorah. + Spacs craze coming to MENA? ALSO: Head to Sando Haus in Diplo.                        <\/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\/07\/11\/tonight-cement-producers-say-hoorah-spacs-craze-coming-to-mena-also-head-to-sando-haus-in-diplo\/\" 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\/07\/11\/tonight-cement-producers-say-hoorah-spacs-craze-coming-to-mena-also-head-to-sando-haus-in-diplo\/')\">\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\/07\/11\/tonight-cement-producers-say-hoorah-spacs-craze-coming-to-mena-also-head-to-sando-haus-in-diplo\/\">\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=TONIGHT: Cement producers say hoorah. + Spacs craze coming to MENA? 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ALSO: Head to Sando Haus in Diplo.\">\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=TONIGHT%3A+Cement+producers+say+hoorah.+%2B+Spacs+craze+coming+to+MENA%3F+ALSO%3A+Head+to+Sando+Haus+in+Diplo.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F11%2Ftonight-cement-producers-say-hoorah-spacs-craze-coming-to-mena-also-head-to-sando-haus-in-diplo%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\/07\/11\/tonight-cement-producers-say-hoorah-spacs-craze-coming-to-mena-also-head-to-sando-haus-in-diplo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566729\" class=\"content-area-description single-story post-566729 post type-post status-publish format-standard hentry category-what-were-tracking-tonight tag-binance tag-covid-19 tag-cryptocurrency tag-egyptian-competition-authority tag-enterprisepm tag-federation-of-egyptian-industries tag-north-coast tag-space tag-virgin-galactic 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>Hello, wonderful people, and welcome to a busy news day. <\/strong>Our Speed Round section features plenty of bold-faced names making news in everything from M&A (Elsewedy, Raya) and investment (SFE) to consumer finance (GB Auto).<\/p>\n<p><strong>MEANWHILE- We\u2019ve completely cancelled covid in Sahel<\/strong>, and Cairo isn\u2019t far behind. But that doesn\u2019t mean the rest of the world is ready to follow suit: Belgian researchers are waving red flags in the case of a 90-year-old woman who died after having been infected with both the alpha and beta strains of the coronavirus. It raises questions about whether co-infection is the next risk, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-07-10\/woman-infected-with-two-covid-19-variants-highlights-next-risk?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a> writes.<\/p>\n<p><strong>Either way, we can expect to need annual covid-19 jabs<\/strong> as is the case with the flu, according to presidential health advisor <a href=\"https:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/416965\/Egypt\/Politics-\/Coronavirus-vaccine-doesn%E2%80%99t-provide-solid-immunity.aspx\">Mohamed Awad Tageldin<\/a>, echoing warnings from western MDs.<\/p>\n<p><strong>That brings us to our first SIGN OF THE TIMES<\/strong> today, as the <a href=\"https:\/\/www.ft.com\/content\/bfe91a50-87fa-43d8-b16d-4c5d124069da\">Financial Times<\/a> notes that with business meetings now becoming commonplace as the pandemic cools off (for now?), <strong>the world is grappling with \u201cdisastrous collisions between shakers, bumpers and fist knockers<\/strong>.\u201d Dramatic much?<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>HAPPENING NOW- It\u2019s official: Cement producers will have to cut back production for 12 <\/strong><strong>months starting this coming Thursday<\/strong>, 15 July, under a decision issued by the Egyptian Competition Authority (ECA). The order is the cornerstone of a bid to cut \u201cthe oversupply glut that has plagued the sector over the past three years,\u201d the Federation of Egyptian Industries' cement division said in <a href=\"https:\/\/ent.news\/2021\/7\/EN-PRL.pdf\">a statement<\/a><a href=\"https:\/\/ent.news\/2021\/7\/EN-PRL.pdf\">(pdf)<\/a>. The new quotas set a 10.69% baseline cut and give additional room for cuts of 2.81% per production line and more for older factories, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9d280cef-6284-40c5-853b-a30bfae11f73\">Reuters<\/a> previously reported. The proposal had been submitted by 23 industry players to \u201cpreserve market plurality\u201d and save their businesses.<\/p>\n<p><strong>So, is your new-build home about to get more expensive? <\/strong>The FEI has urged cement manufacturers not to go overboard with price hikes. The news comes after some players bumped up rates last Tuesday by as much as EGP 50 per tonne, the head of the Cairo Chamber of Commerce\u2019s building materials division Ahmed El Zeiny told <a href=\"https:\/\/bit.ly\/3xLzoHX\">Masrawy<\/a>.<\/p>\n<p><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM:<\/strong><\/p>\n<ul>\n<li><strong>Russia has finally <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c9855c3e-2e9d-45bc-a9d8-e1e15007d087\">lifted the ban<\/a><\/strong><strong> on Red Sea flights<\/strong> <strong>after six years<\/strong>, with the move estimated to eventually bring in some USD 3 bn in annual tourism revenues.<\/li>\n<li><strong>Bechtel <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2b5a4e24-d736-41b6-b4a6-f4ab2e674e5f\">will design<\/a><\/strong><strong> Africa\u2019s largest petrochemical complex, worth USD 7.5 bn<\/strong>, which is being built by the Red Sea National Refining and Petrochemicals Company in the Ain Sokhna industrial zone.<\/li>\n<li><strong>Egypt <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5f24e129-8f88-4800-823a-423aaef98175\">will receive<\/a><\/strong><strong> its first shipment of Pfizer and Johnson & Johnson vaccines, <\/strong>as well as a new batch of the Oxford \/ AstraZeneca jab in the coming days.<\/li>\n<\/ul>\n<p><strong>THE BIG STORY ABROAD- The first pillar of the global tax pact may not be ready for <\/strong><strong>lawmakers to review before <\/strong>spring 2022, US Treasury Secretary Janet Yellen said, according to <a href=\"https:\/\/www.reuters.com\/article\/g20-economy-usa-yellen\/update-1-u-s-s-yellen-says-tax-changes-for-large-firms-may-not-be-ready-until-2022-idUSL1N2ON053\">Reuters<\/a>. The first phase of the pact is designed to \u201callow more countries to tax large, highly profitable multinational companies\u201d and is now moving on a \u201c\u2018slightly slower track\u2019 than a global corporate tax of at least 15% as part of a tax agreement among 132 countries,\u201d the newswire reports. The imposition of a global minimum corporate tax of at least 15% could come into play as soon as this year.<\/p>\n<p><strong>CLOSER TO HOME- Western enthusiasm for SPACs is <\/strong><strong><a href=\"https:\/\/www.ft.com\/content\/c7c0f11c-b678-491d-9173-fe49ea29b4b8\">waning<\/a><\/strong><strong>, but that doesn\u2019t mean <\/strong><strong>blank-cheque companies are running out of steam in MENA: <\/strong>Shares of Dubai-based Shuaa Capital surged 15% today after the company said it is in early talks with investment banks to set up three SPACs of around USD 200 mn each to go after targets in energy, finance and tech, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-07-11\/dubai-s-shuaa-confirms-talks-to-set-up-three-spacs-shares-surge?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a> reports.<\/p>\n<p><strong>SOUND SMART- What\u2019s a SPAC? <\/strong>To paraphrase the old 1980s TV ad, it\u2019s <a href=\"https:\/\/youtu.be\/MeTZK4cKCms?t=14\">\u201ca question a child<\/a><a href=\"https:\/\/youtu.be\/MeTZK4cKCms?t=14\">might ask, but not a childish question.\u201d<\/a> So don\u2019t worry: <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a6ab3251-641a-4e2c-aa00-6b8486d10c68\">We\u2019ve got you covered.<\/a><\/p>\n<p><strong>SIGN OF THE TIMES #2- Goldman Sachs is wondering whether it needs to <\/strong><strong><a href=\"https:\/\/www.ft.com\/content\/239631a3-c42d-4ce4-9dc5-1e3cc71ca0e9\">bump up<\/a><\/strong><strong><a href=\"https:\/\/www.ft.com\/content\/239631a3-c42d-4ce4-9dc5-1e3cc71ca0e9\">salaries<\/a><\/strong><strong> for junior staff.<\/strong> Some in the firm\u2019s ranks are arguing they need to focus on rewarding young snowflakes for performance, but others worry that they\u2019re being out-spent by rivals in the war for talent.<\/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>The EGX will <\/strong><strong><a href=\"https:\/\/ent.news\/2021\/7\/EGX-board-elections.jpg\">hold its board elections for the 2021-2025 term<\/a><\/strong><strong> on Wednesday, 14 July.<\/strong> <a href=\"https:\/\/ent.news\/2021\/7\/EGX-board-elections-2021.jpg\">Here\u2019s a rundown<\/a> of the candidates vying to fill positions.<\/p>\n<p><strong>You have four more days to visit the Cairo International Book Fair <\/strong>at the Egypt International Exhibition Center. The event will run through 15 July and the fair\u2019s committee has <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2373698\">now allowed<\/a> the exhibition ground to operate at 70% capacity.<\/p>\n<p>? <strong>FOR YOUR COMMUTE-<\/strong><\/p>\n<p><strong>Space tourism\u2019s first high-profile flight is taking place today: <\/strong>Virgin Galactic is sending founder Richard Branson and five other people to the edge of space, 50 miles above Earth, in a mission called Unity 22, according to the <a href=\"https:\/\/www.wsj.com\/articles\/richard-bransons-virgin-galactic-flight-kick-starts-space-tourism-11625832000?mod=hp_lead_pos10\">Wall Street Journal<\/a>. The company\u2019s fourth flight is being positioned as a further testament to its abilities ahead of the launch a commercial space tourism program next year, which analysts say will charge USD 400k per ticket. Virgin Galactic\u2019s takeoff comes a week ahead of Amazon Founder Jeff Bezos\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7c892eab-a48b-4efa-b22c-abd294c2644a\">trip to space<\/a> aboard a Blue Origin flight. Branson, Bezos, and Tesla\u2019s Elon Musk are all going full force on space tourism, which would pick up as a commercial experience for the ultra rich in the near future.<\/p>\n<p><strong>If you care more about finding a new planet than fixing the one we live on now, watch <\/strong><strong>Virgin Galactic\u2019s livestream at 4:30pm CLT<\/strong> on <a href=\"https:\/\/twitter.com\/virgingalactic?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor\">Twitter<\/a>, <a href=\"https:\/\/www.facebook.com\/VirginGalactic\/\">Facebook<\/a>, or <a href=\"https:\/\/www.youtube.com\/channel\/UClcvOr7LV8tlJwJvkNMmnKg\">YouTube<\/a>. Or not, if you\u2019d prefer not to give the rich attention-seekers more time than they deserve.<\/p>\n<p><strong>Binance traders worldwide are demanding their money back<\/strong> after the platform froze for an hour just as BTC and other cryptocurrencies plunged on 19 May, according to the <a href=\"https:\/\/www.wsj.com\/articles\/binance-froze-when-bitcoin-crashed-now-users-want-their-money-back-11626001202?mod=hp_lead_pos4\">Wall Street Journal<\/a>. Users in France and Italy are looking at separate avenues to chase the company for their alleged losses. Soon after the crash, a Binance executive tweeted an apology and promised that staff would reach out to those affected. The Tweet was soon deleted. The trading platform has come under fire since then, with many countries forcing the firm to pause operations until it complies with local securities laws.<\/p>\n<p><strong>? <\/strong><strong>ON THE TUBE TONIGHT-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> \u26bd <strong>It\u2019s finally here, folks: Catch England versus Italy in the Euro 2020 final,<\/strong> which <a href=\"https:\/\/www.uefa.com\/uefaeuro-2020\/news\/0259-0e8ef42865e4-5c7f552e7662-1000--euro-2020-final-when-and-where-is-it\/\">will take<\/a><a href=\"https:\/\/www.uefa.com\/uefaeuro-2020\/news\/0259-0e8ef42865e4-5c7f552e7662-1000--euro-2020-final-when-and-where-is-it\/\">place<\/a> at 9pm CLT in London\u2019s Wembley Stadium. The highly anticipated clash between the Three Lions and the Azzurri comes after both made it through a tumultuous and exciting tournament. England narrowly beat Denmark in extra time to reach the final, while Italy had to brave a nerve-wracking penalty shootout against Spain, gaining the lead in the final moment.<\/p>\n<p><strong>Both countries have a lot on the line: <\/strong>Despite nine previous appearances at the tournament, England have never won the Euro, while Italy took home the trophy once in 1968. The game marks England\u2019s second-ever appearance in the final of a major global tournament, the first being the finale to their successful 1966 World Cup campaign. For Italy, victory would cap the renaissance the team has had since it failed to qualify for the 2018 World Cup in Russia.<\/p>\n<p><strong>Markets sage Mohamed El Erian has <\/strong><strong><a href=\"https:\/\/twitter.com\/elerianm\/status\/1413889659067768836?s=20\">the best rundown we\u2019ve seen<\/a><\/strong><strong> of which countries in <\/strong><strong>Europe are rooting for whom. <\/strong><\/p>\n<p><strong>HERE AT HOME- Al Ahly is playing Misr Lel Makasa<\/strong> at 7pm in the Egyptian Premier League.<\/p>\n<p><strong>ALSO TODAY- The men\u2019s singles final at Wimbledon gets underway at 3pm CLT<\/strong>, with Serbia\u2019s Novak Djokovic taking on Italy\u2019s Matteo Berrettini. Yesterday, Australian Ashleigh Barty beat Karolina Pliskova in a tough match to become the <a href=\"https:\/\/www.theguardian.com\/sport\/2021\/jul\/10\/ashleigh-barty-karolina-pliskova-wimbledon-final-match-report\">first Aussie woman to win at<\/a><a href=\"https:\/\/www.theguardian.com\/sport\/2021\/jul\/10\/ashleigh-barty-karolina-pliskova-wimbledon-final-match-report\">Wimbledon<\/a> since her mentor and idol, Evonne Goolagong Cawley, won back in 1980.<\/p>\n<p><strong>Netflix Original anime <\/strong><strong><a href=\"https:\/\/www.netflix.com\/eg-en\/title\/80987064\">Resident Evil: Infinite Darkness<\/a><\/strong><strong> is bringing the popular <\/strong><strong>video game to life: <\/strong>The miniseries follows a group of government agents who are tasked with containing a zombie outbreak in the White House \u2014 which quickly escalates into a diplomatic crisis between the US and China (seems realistic enough). Infinite Darkness takes place between the video games Resident Evil 4 and Resident Evil 5. The anime takes a new turn, choosing to treat the zombie aspect as an afterthought, delving instead into the backstories of people who created these \u201cbio-organic weapons, making the newest addition to the Resident Evil franchise more political drama than action series.<\/p>\n<p><strong>? EAT THIS TONIGHT- <\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>Sando Haus is the ultimate fusion of flavors in Sahel this summer. <\/strong>Okay, we admit: We\u2019re biased, seeing as the joint is run by our pal Nada Amin (the former Extel- and Institutional investor-ranked EFG Hermes research analyst) and her brother, Mohamed. But trust us: You\u2019ll love it. Blending Asian inspirations from Japan and Vietnam with the best of South African meats, <strong><a href=\"https:\/\/www.instagram.com\/sando.haus\/?utm_medium=copy_link\">Sando Haus<\/a><\/strong><strong> offers towering Japanese-style sandwiches and sides at Sahel\u2019s Diplo 3 Strip.<\/strong> When we say fusion, we mean it: From their Tiger\u2019s Treat featuring breaded chicken strips and mango chutney-mayo, to their King\u2019s Katsu Sando combining beef fillet and sweet tonkatsu sauce, and pickled onions, all the way to their Vietnamese-inspired Buddha\u2019s Banh Mi. To complement the meal, get one of their salads or fries and finish it off with Chichi bites (French toast strips). Can we just mention that we love their space\u2019s design, with a pink and green exterior that just screams Sahel vibes? Look for Sando immediately on your right at the start of the Diplo strip after you turn off the highway.<\/p>\n<p><strong>Oh, and because our community is ridiculously small: Nada\u2019s husband is none other <\/strong><strong>than EFG Hermes analyst Yousef Husseini<\/strong>, with whom we had a lovely talk for last week\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a5ca0291-e61e-4fb9-8f1b-2e2722e275b7\">Analyst of The Week<\/a> feature.<\/p>\n<p>?<strong> OUT AND ABOUT-<\/strong><\/p>\n<p><strong>An <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/2015621401928662\/?active_tab=about\">audiovisual performance and installation<\/a><\/strong> by Mohammed Allam, Ahmad Kubbara and Mena El Shazly will take place at 7pm as part of the de*sync film nights held by the Contemporary Image Collective (CIC).<\/p>\n<p><strong>A Sharmoofers concert is taking place in New Cairo\u2019s Hyde Park this Thursday at 6pm. <\/strong>You can grab your tickets <a href=\"https:\/\/www.ticketsmarche.com\/tickets\/buy-tickets-sharmoofers-live-concert.html\">using this link<\/a>.<\/p>\n<p><strong>Alaa Farghali is holding a talk and book signing for his Arabic-language novel <\/strong><strong><a href=\"https:\/\/www.goodreads.com\/book\/show\/50826793\">Wadi El<\/a><\/strong><strong><a href=\"https:\/\/www.goodreads.com\/book\/show\/50826793\">Dom<\/a><\/strong> which received the 2021 Naguib Mahfouz Medal for Fiction. The event <a href=\"https:\/\/www.facebook.com\/events\/828378367806542\/?active_tab=about\">will take place<\/a> at Downtown\u2019s Consoleya coworking space tonight at 7pm.<\/p>\n<p><strong>? UNDER THE LAMPLIGHT-<\/strong><\/p>\n<p><strong>The criminal underworld of international gold smuggling, exposed: <\/strong><a href=\"https:\/\/www.amazon.com\/Dirty-Gold-Rise-International-Smuggling-ebook\/dp\/B08CDY2VCP\/ref=tmm_kin_swatch_0?_encoding=UTF8&qid=&sr=\">Dirty Gold: The<\/a><a href=\"https:\/\/www.amazon.com\/Dirty-Gold-Rise-International-Smuggling-ebook\/dp\/B08CDY2VCP\/ref=tmm_kin_swatch_0?_encoding=UTF8&qid=&sr=\">Rise and Fall of an International Smuggling Ring<\/a> is written by Jay Weaver, Nicholas Nehamas , Jim Wyss, and Kyra Gurney and follows the true story of \u201cthe three amigos,\u201d a Miami-based trio who built a USD 3.6 bn business through illicit trading of metals, especially illegal Peruvian gold. They were arrested in 2017, but the case brought to authorities\u2019 attention a massive and dangerous international business that is more lucrative than cocaine trafficking. The Miami Herald journalists who covered the story present the case as well as the resulting investigations in a gripping story that will keep you on the edge of your seat.<\/p>\n<hr class=\"grey-line\">\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- More 40\u00b0C days for Cairo ahead<\/strong>, but we\u2019re not complaining too hard\u2026 We\u2019re saving that for later in the week when the mercury will rise to 43\u00b0C. Meanwhile,<\/p>\n<p><strong>Sahel has 32\u00b0C weather to offer<\/strong>, our favorite weather app tells us.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/binance\/\">Binance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cryptocurrency\/\">cryptocurrency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-competition-authority\/\">Egyptian 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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=\"566730\" 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 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data-block-id=\"ujpolu1\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-ujpolu1-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-ujpolu1-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-884q9fm\" data-v=\"4\" data-block-id=\"884q9fm\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-884q9fm-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-884q9fm-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 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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\/07\/11\/year-of-ma-continues-with-elsewedy-raya-contact-center-entering-the-fray\/\">\r\n                            Year of M&#038;A continues with Elsewedy, Raya Contact Center entering the fray                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/11\/year-of-ma-continues-with-elsewedy-raya-contact-center-entering-the-fray\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/377.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"566732\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/11\/year-of-ma-continues-with-elsewedy-raya-contact-center-entering-the-fray\/377-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/377.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"377.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/377.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/377.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566731\" class=\"content-area-description single-story post-566731 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round-ma-watch tag-elsewedy-electric tag-enterprisepm tag-ma-watch 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-01\"><\/a> <strong>Elsewedy to snap up a controlling stake in Egypt\u2019s <\/strong><strong><a href=\"https:\/\/www.intlcables.com\/\">International Cables Company<\/a><\/strong><strong> in <\/strong><strong>EGP 410 mn transaction:<\/strong> Elsewedy Electric has signed a sale and purchase agreement to acquire 99.25% of Egypt-based cablemaker International Cables Company (ICC) for EGP 410 mn transaction, according to <a href=\"https:\/\/ent.news\/2021\/7\/Elsewedy-PRL.pdf\">an EGX disclosure (pdf)<\/a>. The transaction is still subject to regulatory approvals.<\/p>\n<p><strong>Look for as many as two more acquisitions from Elsewedy before the year is done. <\/strong>The company\u2019s M&A director, Ahmed Nabil, has previously <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/40876bbc-c57d-4a13-ae88-d8f432b408f9\">said<\/a> the company is aiming to close three transactions in the second half of the year, looking at unidentified technology, electric equipment and cable makers. The company is open to transactions in the USD 100 mn range \u2014 or more if it makes strategic sense, Nabil said.<\/p>\n<p><strong>What\u2019s ICC? <\/strong>The company employs some 400 people and produces low-, medium- and high-voltage cables as well as telephone cable at a facility in the 10 Ramadan industrial zone set up back in 1989. The company has \u201cachieved robust growth over the past years \u2026 positioning it as an attractive investment \u2026 for strategic investors,\u201d sell-side advisor Al Ahly Pharos <a href=\"https:\/\/ent.news\/2021\/7\/ICC-Press-Release-July-2021-English-copy.pdf\">said in a statement (pdf)<\/a> without providing further information.<\/p>\n<p><strong>Advisors:<\/strong> Al Ahly Pharos was financial advisor to the selling shareholders. Our friends at Alieldean Weshahi & Partners were counsel to Elsewedy, while Al Kamel Law Firm had sell-side duty.<\/p>\n<p><strong>IN OTHER M&A NEWS-<\/strong> <strong>Raya Contact Center is on course to acquire an 85% stake <\/strong><strong>in Bahrain-based call center company <\/strong><strong>Gulf Customer Experience (<\/strong><strong><a href=\"https:\/\/gulfcx.com\/\">Gulf CX<\/a><\/strong><strong>)<\/strong> in a USD 12 mn transaction, investor relations head Karim Seoudi told Enterprise, confirming <a href=\"https:\/\/ent.news\/2021\/7\/Raya-Contact-Centers-disclosure.pdf\">a statement to the EGX (pdf)<\/a>. Raya is purchasing a total of 335,829 shares in Gulf CX, with Raya valuing the entire company at USD 14.32 mn, the statement said. The company plans to fully acquire Gulf CX over two stages, the first being the acquisition of 85% of the company, with the two sides expected to ink a final agreement \u201cwithin days.\u201d The remaining 15% should be snapped up over the upcoming three years at most, according to Seoudi.<\/p>\n<p><strong>Advisors:<\/strong> EFG Hermes is acting as Raya\u2019s financial advisor, while Al Tamimi & Company is acting as counsel, Seoudi tells us.<\/p>\n<p><strong>Background:<\/strong> Raya had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e7877469-807b-4a69-a6ec-766e8b559250\">announced in May<\/a> that it was on the verge of acquiring an unnamed call center company based in the Gulf. Raya submitted its initial offer to acquire the call center back <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/572f13d2-6f33-415c-be92-aeb0eabcbfa3\">in October<\/a>, as part of the company\u2019s plans to expand its footprint in the GCC, particularly in Saudi Arabia.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/elsewedy-electric\/\">Elsewedy Electric<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"566733\" 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=\"566733\">\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: INVESTMENT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/11\/sfe-loves-pharma-manufacturing-confirms-its-bidding-for-a-piece-of-amoun-with-adq\/\">\r\n                            SFE loves pharma manufacturing, confirms it\u2019s bidding for a piece of Amoun with ADQ                        <\/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\/07\/11\/sfe-loves-pharma-manufacturing-confirms-its-bidding-for-a-piece-of-amoun-with-adq\/\" 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\/07\/11\/sfe-loves-pharma-manufacturing-confirms-its-bidding-for-a-piece-of-amoun-with-adq\/')\">\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\/07\/11\/sfe-loves-pharma-manufacturing-confirms-its-bidding-for-a-piece-of-amoun-with-adq\/\">\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=SFE loves pharma manufacturing, confirms it\u2019s bidding for a piece of Amoun with ADQ&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/11\/sfe-loves-pharma-manufacturing-confirms-its-bidding-for-a-piece-of-amoun-with-adq\/\">\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\/07\/11\/sfe-loves-pharma-manufacturing-confirms-its-bidding-for-a-piece-of-amoun-with-adq\/&title=SFE loves pharma manufacturing, confirms it\u2019s bidding for a piece of Amoun with ADQ\">\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=SFE+loves+pharma+manufacturing%2C+confirms+it%E2%80%99s+bidding+for+a+piece+of+Amoun+with+ADQ+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F11%2Fsfe-loves-pharma-manufacturing-confirms-its-bidding-for-a-piece-of-amoun-with-adq%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\/07\/11\/sfe-loves-pharma-manufacturing-confirms-its-bidding-for-a-piece-of-amoun-with-adq\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/378.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"566734\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/11\/sfe-loves-pharma-manufacturing-confirms-its-bidding-for-a-piece-of-amoun-with-adq\/378-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/378.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"378.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/378.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/378.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566733\" class=\"content-area-description single-story post-566733 post type-post status-publish format-standard has-post-thumbnail hentry category-speed-round-investment-watch tag-adq tag-enterprisepm tag-investment-watch tag-lighthouse-education tag-pharma tag-sovereign-fund-of-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>The Sovereign Fund of Egypt has plenty of appetite for pharma<\/strong>, with CEO Ayman Soliman telling <a href=\"https:\/\/bit.ly\/3xzAWEK\">Hapi Journal<\/a> the company is in talks with potential partners to invest in domestic pharma manufacturing targeting both the domestic and export markets. Data from the government\u2019s Unified Procurement Authority will, in part, guide its choices on what products have the best local prospects. The story doesn\u2019t say how much the SFE will look to invest in manufacturing, nor does it specify whether it\u2019s looking at greenfield or brownfield targets.<\/p>\n<p><strong>And it\u2019s now official: The SFE will partner with Abu Dhabi sovereign wealth fund ADQ <\/strong><strong>in the acquisition of 100% of domestic manufacturing powerhouse Amoun. <\/strong>Soliman confirmed that new investments in manufacturing will take place alongside the fund\u2019s acquisition of a stake in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5ff934f4-35e2-41d7-a97e-5a0bd7634b47\">Amoun Pharma, a transaction being led by ADQ<\/a>. The SFE had reportedly joined ADQ in the bid for Amoun back in February, but the story was never confirmed. A subsidiary of ADQ confirmed at the end of June that it\u2019s still aiming to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5eed80cb-828d-44e8-8364-bed517c90850\">buy<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5eed80cb-828d-44e8-8364-bed517c90850\">Amoun via a mandatory tender offer that could be worth as much as EGP 10.3 bn<\/a>. Amoun is presently a unit of Canada\u2019s Bausch Health.<\/p>\n<p><strong>Healthcare real estate and logistics are also getting some love. <\/strong>The fund is looking to invest in real estate projects that could be repurposed as hospitals, in partnership with health operators. It is also in the process of establishing a logistics company to invest in supply warehouses and build logistics hubs for the private sector and e-commerce companies. Partnerships in the sector will be finalized in the coming six months, Soliman added.<\/p>\n<p><strong>BACKGROUND: <\/strong>Healthcare is a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c003c21c-47e0-4eb4-8ce0-0cda47900c86\">top priority<\/a> for the fund, which has made several moves into the sector since the onset of the pandemic. Other than a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2377b687-8d51-4e2a-8731-0458d605cea0\">USD 300 mn joint venture<\/a> with Concord International Investments in May, the SFE was reportedly eyeing a stake in state pharma company Chemical Industries Development. Healthcare is one of four <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/13d69470-44e2-4702-9441-3421aefe4fa3\">previously announced<\/a> sub-funds the SFE is carving out, alongside financial services, tourism and real estate, and infrastructure.<\/p>\n<p><strong>The news comes just one week after the SFE said it would invest in <\/strong><strong><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/172347934935635\">Lighthouse<\/a><\/strong><strong><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/172347934935635\">Education<\/a><\/strong>, a new platform with partners including Misr Ins. Holding Company (MIH), Banque Misr, and the Suez Canal Bank. The Lighthouse transaction is part of an EGP 1.75 bn push into K-12 education announced earlier this <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c8298555-2c1a-4220-a384-e1e6f7eff7e4\">month<\/a>; partners include Egyptian banks, among other investors. <strong>We\u2019ll have more on Lighthouse\u2019s plans in tomorrow\u2019s Blackboard<\/strong> in EnterpriseAM.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/adq\/\">ADQ<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lighthouse-education\/\">Lighthouse Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharma\/\">pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/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=\"566735\" 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=\"566735\">\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: CONSUMER FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/11\/gb-auto-gets-fra-nod-to-expand-consumer-finance-activities\/\">\r\n                            GB Auto gets FRA nod to expand consumer finance activities                        <\/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\/07\/11\/gb-auto-gets-fra-nod-to-expand-consumer-finance-activities\/\" 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\/07\/11\/gb-auto-gets-fra-nod-to-expand-consumer-finance-activities\/')\">\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\/07\/11\/gb-auto-gets-fra-nod-to-expand-consumer-finance-activities\/\">\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=GB Auto gets FRA nod to expand consumer finance activities&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/11\/gb-auto-gets-fra-nod-to-expand-consumer-finance-activities\/\">\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\/07\/11\/gb-auto-gets-fra-nod-to-expand-consumer-finance-activities\/&title=GB Auto gets FRA nod to expand consumer finance activities\">\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=GB+Auto+gets+FRA+nod+to+expand+consumer+finance+activities+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F11%2Fgb-auto-gets-fra-nod-to-expand-consumer-finance-activities%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\/07\/11\/gb-auto-gets-fra-nod-to-expand-consumer-finance-activities\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566735\" class=\"content-area-description single-story post-566735 post type-post status-publish format-standard hentry category-speed-round-consumer-finance tag-consumer-finance tag-enterprisepm tag-financial-regulatory-authority tag-gb-auto tag-non-banking-financial-services wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>GB Auto has landed final regulatory approval to launch new consumer finance activities for <\/strong><strong>factoring arm <\/strong><strong><a href=\"http:\/\/ghabbourauto.com\/GBCapital\/Drive.aspx\">Drive<\/a><\/strong>, according to a company <a href=\"https:\/\/ent.news\/2021\/7\/Drive-Receives-Preliminary-Final-on-Consumer-Financing-License-EN.pdf\">statement (pdf)<\/a>. The nod from the Financial Regulatory Authority (FRA) will allow Drive to widen its activities beyond car finance into other market segments. Drive had received an <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e30f8bcd-2190-41a4-a757-2410879f3964\">initial nod<\/a> from the FRA to launch consumer finance products back in 2020.<\/p>\n<p><strong>Drive had the largest share of Egypt\u2019s factoring market<\/strong> in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b78e0a2d-f60f-4804-befb-6e026cb3a197\">February<\/a>, increasing its market share to almost 22% in February after loaning out EGP 254 mn. Its market share in <a href=\"https:\/\/ent.news\/2021\/7\/%D8%AA%D9%82%D8%B1%D9%8A%D8%B1-%D8%A7%D9%84%D8%A3%D8%AF%D8%A7%D8%A1-%D8%A7%D9%84%D8%B4%D9%87%D8%B1%D9%8A-%D9%84%D9%84%D8%A3%D9%86%D8%B4%D8%B7%D8%A9-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D8%BA%D9%8A%D8%B1-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%81%D9%8A%D8%A9-%D8%B9%D9%86-%D8%B4%D9%87%D8%B1-%D9%85%D8%A7%D9%8A%D9%88-2021.pdf\">May<\/a> dropped to 6.31% however, with EGP 280.6 mn worth of contracts.<\/p>\n<p><strong>Sarwa Capital\u2019s subsidiary <\/strong><strong>Contact and Raya Holding subsidiary Aman were the <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dda7d640-0590-4109-a31c-ebe7ef08e7a5\">first<\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dda7d640-0590-4109-a31c-ebe7ef08e7a5\">companies<\/a><\/strong><strong> to<\/strong><strong> be granted consumer financing licenses, <\/strong>following the passing of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/471c6d79-d116-449e-89be-1b80b3b3af25\">Consumer Credit Act<\/a> last year. Other consumer finance outfits that had reportedly been seeking licenses at the time include EFG Hermes\u2019 valU, Premium Card, and CI Capital\u2019s Souhoola. Some twenty five companies are currently licensed to provide consumer financing services in Egypt FRA Deputy Chairman Islam Azzam <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0e4e712e-9c32-4582-9949-555df5e3ab4c\">said last week<\/a>.<\/p>\n<p><strong>Consumer finance players are also in line for a VAT exemption<\/strong>, under an agreement with the FRA which aims to provide consumer finance players the same VAT treatment afforded to other NBFS providers.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/consumer-finance\/\">consumer finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gb-auto\/\">GB Auto<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/non-banking-financial-services\/\">non-banking financial services<\/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=\"566736\" 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=\"566736\">\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: STARTUP WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/11\/sme-fintech-startup-hollydesk-looking-to-close-six-figure-usd-round\/\">\r\n                            SME fintech startup Hollydesk looking to close six-figure USD round                        <\/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\/07\/11\/sme-fintech-startup-hollydesk-looking-to-close-six-figure-usd-round\/\" 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\/07\/11\/sme-fintech-startup-hollydesk-looking-to-close-six-figure-usd-round\/')\">\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\/07\/11\/sme-fintech-startup-hollydesk-looking-to-close-six-figure-usd-round\/\">\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=SME fintech startup Hollydesk looking to close six-figure USD round&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/11\/sme-fintech-startup-hollydesk-looking-to-close-six-figure-usd-round\/\">\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\/07\/11\/sme-fintech-startup-hollydesk-looking-to-close-six-figure-usd-round\/&title=SME fintech startup Hollydesk looking to close six-figure USD round\">\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=SME+fintech+startup+Hollydesk+looking+to+close+six-figure+USD+round+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F11%2Fsme-fintech-startup-hollydesk-looking-to-close-six-figure-usd-round%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\/07\/11\/sme-fintech-startup-hollydesk-looking-to-close-six-figure-usd-round\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566736\" class=\"content-area-description single-story post-566736 post type-post status-publish format-standard hentry category-speed-round-startup-watch tag-enterprisepm tag-fintech tag-hollydesk tag-smes tag-startup-watch tag-startups 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>Fintech startup <\/strong><strong><a href=\"https:\/\/www.hollydesk.com\/\">HollyDesk<\/a><\/strong><strong> is looking to close <\/strong><strong>a six-figure USD funding<\/strong><strong> round by the end of the <\/strong><strong>month<\/strong>, CEO Mahmoud Moussa told <a href=\"https:\/\/bit.ly\/3e6eMSV\">Masrawy<\/a>, without disclosing the exact amount or the investors. Proceeds from the round will allow the company to grow its customer base, which focuses particularly on companies with fewer than 1k employees, Moussa added. The company also plans to expand to Saudi Arabia by the end of the year, followed by North Africa at a later stage, Moussa said.<\/p>\n<p><strong>What does the company do, anyway? <\/strong>HollyDesk provides a SaaS tool that offers companies a dashboard to manage their finances, including real-time expense tracking and management of both receivables and payables through a payment gateway. The company has teamed up with our friends at CIB to provide rapid collection of funds through electronic wallets for employees or other company-verified parties, and is in talks with Fawry to provide a similar service.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hollydesk\/\">HollyDesk<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smes\/\">SMEs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/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=\"566737\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"566738\" 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=\"566738\">\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\/07\/11\/egx30-turnover-below-egp-1-bn-mark-today\/\">\r\n                            EGX30 turnover below EGP 1 bn mark today                        <\/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\/07\/11\/egx30-turnover-below-egp-1-bn-mark-today\/\" 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\/07\/11\/egx30-turnover-below-egp-1-bn-mark-today\/')\">\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\/07\/11\/egx30-turnover-below-egp-1-bn-mark-today\/\">\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=EGX30 turnover below EGP 1 bn mark today&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/11\/egx30-turnover-below-egp-1-bn-mark-today\/\">\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\/07\/11\/egx30-turnover-below-egp-1-bn-mark-today\/&title=EGX30 turnover below EGP 1 bn mark today\">\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=EGX30+turnover+below+EGP+1+bn+mark+today+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F11%2Fegx30-turnover-below-egp-1-bn-mark-today%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\/07\/11\/egx30-turnover-below-egp-1-bn-mark-today\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566738\" class=\"content-area-description single-story post-566738 post type-post status-publish format-standard hentry category-go-with-the-flow tag-egx tag-enterprisepm tag-go-with-the-flow tag-market-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The EGX30 fell 0.3% at today\u2019s close<\/strong> on turnover of EGP 820 mn (33.1% below the 90-day average). Foreign investors were net sellers. The index is down 6.4% YTD.<\/p>\n<p><strong>In the green: <\/strong>MM Group (+1.9%), TMG Holding (+1.5%) and Eastern Company (+0.8%).<\/p>\n<p><strong>In the red: <\/strong>Oriental Weavers (-3.1%), Sidi Kerir Petrochemicals (-2.2%) and Pioneers Holding (-1.9%).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/go-with-the-flow\/\">Go with the Flow<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/market-watch\/\">Market Watch<\/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=\"566739\" 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=\"566739\">\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\">STATS + INDICATORS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/11\/measuring-peace-across-the-globe\/\">\r\n                            Measuring peace across the globe                        <\/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\/07\/11\/measuring-peace-across-the-globe\/\" 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\/07\/11\/measuring-peace-across-the-globe\/')\">\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\/07\/11\/measuring-peace-across-the-globe\/\">\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=Measuring peace across the globe&url=https:\/\/enterpriseam.com\/egypt\/2021\/07\/11\/measuring-peace-across-the-globe\/\">\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\/07\/11\/measuring-peace-across-the-globe\/&title=Measuring peace across the globe\">\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=Measuring+peace+across+the+globe+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F07%2F11%2Fmeasuring-peace-across-the-globe%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\/07\/11\/measuring-peace-across-the-globe\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/380.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"566740\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/11\/measuring-peace-across-the-globe\/380-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/380.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"380.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/380.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/380.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566739\" class=\"content-area-description single-story post-566739 post type-post status-publish format-standard has-post-thumbnail hentry category-stats-indicators tag-enterprisepm tag-mena tag-stats-indicators wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>The world is becoming more troubled: <\/strong>There are often clear signs that a country\u2019s order is eroding, from a crackdown on press and oppositional voices to a currency going haywire. The <a href=\"https:\/\/www.economicsandpeace.org\/research\/\">Global Peace Index Report 2021<\/a> created by the Institute of Economics and Peace (IEP) has set out to chart which of the 163 surveyed countries have become more peaceful and which are turning more crackpot.<\/p>\n<p><strong>The metrics: <\/strong>Countries are ranked on two different metrics. <strong>The Positive Peace Index (PPI)<\/strong> is a composite measure of factors that might be expected to make a country more peaceful. These include a country\u2019s levels of corruption, human capital, broad access to public services such as health and education, and a well-functioning government. Countries that perform well on the PPI index are usually less tolerant of violence and offer peaceful channels to resolve disputes. The second metric is the <strong>Global Peace Index (GPI)<\/strong>, a measure of how peaceful the country actually is. This is based on a further 23 weighted indicators, such as the country\u2019s homicide rate, the ease of access to weapons and the levels of political violence and terrorism.<\/p>\n<p><strong>The IEP has been pretty accurate before\u2026 Egypt is a case in point: <\/strong>In 2009, it ranked Egypt #63 on the GPI but #115 on the PPI. The Positive Peace Deficit (when countries rank at least 20 places higher on the GPI than the PPI) was attributed to former President Hosni Mubarak\u2019s muzzle on dissent which muted voices without fixing their concerns. Two years later, mns of Egyptians took to the streets in protest, calling for a new government to resolve their grievances. The PPD model is often looked at as having predictive power of future conflicts.<\/p>\n<p><strong>This past year has seen the average level of global peacefulness deteriorate by 0.07%<\/strong>, with 87 countries improving, and 73 declining. However, the change in score is the second smallest in the history of the index. The 2021 GPI instead reveals a world greatly affected by the global health issues taking the world by storm. The covid-19 pandemic has slowed down some forms of violence in the short term, however the growing unease with lockdowns and rising economic uncertainty resulted in civil unrest increasing in 2020. While it\u2019s still too early to determine the long-term effects of the pandemic on peace, the increased economic stress increases the likelihood of political instability and violent demonstrations, the reports says.<\/p>\n<p><strong>The most peaceful countries in the world are topped by Iceland<\/strong>, a position it has held since 2008. Rounding out the top five countries are New Zealand, Denmark, Portugal, and Slovenia.<\/p>\n<p><strong>Afghanistan is the least peaceful country in the world for the fourth consecutive year,<\/strong> followed by Yemen, Syria, South Sudan, and Iraq.<\/p>\n<p><strong>Regionally, six of the nine global regions became less peaceful in 2020: <\/strong>Europe was placed as the most peaceful region, also recording an increase in peacefulness over the year. Meanwhile, North America ranked second, but constituted by far the largest regional deterioration after growing civil unrest and political instability took place in the US.<\/p>\n<p><strong>While MENA remains the least peaceful region in the world, it saw the largest improvement over the past year. <\/strong>The level of ongoing conflict fell, as did the impact of errorism and the number of deaths from internal conflict. Meanwhile, the economic impact of violence also improved across four regions. Qatar (#29) is the region\u2019s most peaceful country, followed by Kuwait (#36) and the UAE (#52).<\/p>\n<p><strong>Where does Egypt rank? <\/strong>Egypt\u2019s overall rank across all 163 countries is #126, up three places from last year. Regionally, Egypt comes in at #11, out of the 20 total MENA countries looked at.<\/p>\n<p><strong>What held us back? <\/strong>Tensions between Egypt, Ethiopia, and Sudan over the Grand Ethiopian Renaissance Dam were a source of diplomatic friction and possible escalation of violence over the past year. The report also points to several medical staff being detained for spreading news on social media about the lack of personal protective equipment and the lack of covid-19 testing.<\/p>\n<p><strong>It wasn\u2019t a great decade for us as far as the GPI is concerned:<\/strong> Egypt was among the 10 countries that saw the largest falls in GPI between 2009 and 2019, joining countries such as Libya, Syria and Ukraine.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mena\/\">MENA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/stats-indicators\/\">STATS + INDICATORS<\/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=\"566741\" 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=\"566741\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">GAMING<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/11\/gaming-is-the-latest-industry-to-go-totally-digital\/\">\r\n                            Gaming is the latest industry to go totally digital                        <\/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\/07\/11\/gaming-is-the-latest-industry-to-go-totally-digital\/\" 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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It started off with the film and TV industry, as physical DVDs and VCR tapes became defunct as people flocked to streaming sites such as YouTube or Netflix for their entertainment fix. Books were next, with Amazon being able to yank a title off your Kindle anytime it wants. Gaming seems to be the latest industry to surrender to the digital advance, with physical games moving towards the exit as players switch to downloads, rather than the purchase of physical games.<\/p>\n<p><strong>The ephemerality of digital media: <\/strong>Whereas with DVDs and books you *owned* an item \u2014 unless of course someone stole it \u2014 if Netflix decided to take down a film tomorrow it would simply be gone forever, a phenomenon even more likely with the mns of content creators on YouTube that can delete videos on a whim. Music soon followed the same path with the emergence of platforms such as Apple Music, Spotify, and Anghami, which quickly replaced mp3 song files and CDs.<\/p>\n<p><strong>Physical games are becoming luxury items, and the pandemic is pushing them there: <\/strong>The PlayStation 5 and Xbox Series X generation could become the turning point where physical media becomes all-but obsolete, with the two gaming giants <a href=\"https:\/\/www.ign.com\/articles\/why-digital-sales-could-totally-dominate-physical-formats-in-just-a-few-years\">offering digital only consoles<\/a> that eliminate the need for discs altogether. With the ongoing covid-19 pandemic pushing consumers to shop online more, companies felt confident in making such a drastic change. Further bolstering their confidence; several gaming companies including Capcom and Sony reported that digital downloads overtook physical disc sales during the past year, with <a href=\"https:\/\/www.ign.com\/articles\/cyberpunk-2077-reportedly-had-the-biggest-digital-game-launch-of-all-time\">Cyberpunk 2077<\/a> reporting the <a href=\"https:\/\/www.gamesradar.com\/cyberpunk-2077-is-the-biggest-digital-game-launch-of-all-time\/\">biggest digital launch of a game yet<\/a> \u2014 before it <a href=\"https:\/\/www.nytimes.com\/2020\/12\/19\/style\/cyberpunk-2077-video-game-disaster.html\">flopped on its release<\/a>.<\/p>\n<p><strong>Gaming\u2019s biggest conference was even moved online this year: <\/strong>The <a href=\"https:\/\/e3expo.com\/\">E3 conference<\/a> was <a href=\"https:\/\/www.bbc.com\/news\/newsbeat-56654159\">held virtually this year<\/a> after being cancelled last year due to the pandemic. The E3 conference has been a \u201cspiritual home\u201d for gamers since 1995, and is where much loved consoles like the PlayStation 4 and Nintendo Wii were first seen, as well as now-classic games like Halo 2. But some have doubted whether the in-person event can regain its previous lustre, and have raised the spectre of the conference migrating to a digital presence permanently.<\/p>\n<p><strong>Video game fans have clung onto physical games, but there are multiple benefits to switching to digital: <\/strong>Of course, convenience is first and foremost. Especially during the pandemic, many people opted to buy games from the comfort and safety of their sofas as opposed to visiting a store. Digital games also can\u2019t be lost, stolen or damaged. And possibly more importantly, moving to digital entertainment is greener and better for the environment since they cut out the carbon emissions of production and transport.<\/p>\n<p><strong>Nevertheless, there are a lot of losers in the transition:<\/strong> Independent stores who resell old games are slowly losing their customers. While there aren\u2019t statistics for this locally, we\u2019ve all been to the multiple games shops in Egypt that offer stacks and stacks of used games. Digital games also require fast internet \u2014 which to be frank, Egypt does not excel at \u2014 to enable the download of updates and support gameplay in real time across multiple locations. With that in mind, physical games are likely to continue to play a role in the industry in Egypt longer than in the west.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gaming\/\">gaming<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/netflix\/\">Netflix<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/playstation\/\">PlayStation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/youtube\/\">youtube<\/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=\"566743\" 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\/07\/11\/your-essential-business-calendar-on-11-july-2021-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-566743\" class=\"content-area-description single-story post-566743 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>July: The government\u2019s fuel pricing committee <a href=\"https:\/\/bit.ly\/3wQkCz2\">will meet to announce<\/a> 3Q prices.<\/p>\n<p>14 July (Wednesday): The EGX will hold <a href=\"https:\/\/ent.news\/2021\/7\/EGX-board-elections.jpg\">board elections<\/a> for the 2021-2025 term.<\/p>\n<p>Mid-July: <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=20062021&id=8bcd83a3-21d4-44b1-940d-ddcc78544942\">Legislative session expected to end<\/a>.<\/p>\n<p>19 July (Monday): Arafat Day (national holiday).<\/p>\n<p>21 July (Wednesday): Clean Energy Business Council\u2019s webinar <a href=\"https:\/\/www.eventbrite.ca\/e\/joint-event-wire-clean-energy-business-council-mena-tickets-157709897549\">Women entrepreneurs in clean energy<\/a> (3pm)<\/p>\n<p>20-23 July (Tuesday-Friday): Eid Al Adha (national holiday).<\/p>\n<p>23 July (Friday): Revolution Day (national holiday).<\/p>\n<p>23 July-11 August (Friday-Wednesday): Tokyo 2020 Olympics.<\/p>\n<p>2-4 August (Monday-Wednesday): Egypt is hosting the <a href=\"https:\/\/www.africa-foodmanufacturing.com\/en\/Home.html\">Africa Food Manufacturing<\/a> exhibition at the Egypt International Exhibition Center.<\/p>\n<p>5 August (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>9 August (Monday): Islamic New Year.<\/p>\n<p>12 August (Thursday): National holiday in observance of the Islamic New Year.<\/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>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>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>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>6 October (Wednesday): Armed Forces Day.<\/p>\n<p>7 October (Thursday): National holiday in observance of Armed Forces Day.<\/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>1-3 November (Monday-Wednesday): Egypt Energy exhibition on power and renewable energy, Egypt International Exhibition Center, Cairo, Egypt.<\/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>1-12 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>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>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>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\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":566728,"template":"","categories":[],"tags":[],"class_list":["post-566727","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"1b97cce5-fdae-4c8e-b759-faa7b6be570b","teaser":"","photo_url":"https:\/\/ent.news\/2021\/7\/372.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>Enterprise The year of M&amp;A continues with Elsewedy, Raya Contact Center entering the fray - 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\/enterprise-the-year-of-ma-continues-with-elsewedy-raya-contact-center-entering-the-fray\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Enterprise The year of M&amp;A continues with Elsewedy, Raya Contact Center entering the fray\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-the-year-of-ma-continues-with-elsewedy-raya-contact-center-entering-the-fray\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T05:31:59+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/372.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\/enterprise-the-year-of-ma-continues-with-elsewedy-raya-contact-center-entering-the-fray\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/enterprise-the-year-of-ma-continues-with-elsewedy-raya-contact-center-entering-the-fray\/\",\"name\":\"Enterprise The year of M&A continues with Elsewedy, Raya Contact Center entering the fray - 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