{"id":579478,"date":"2022-11-02T14:06:34","date_gmt":"2022-11-02T14:06:34","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=579478"},"modified":"2025-12-16T12:02:40","modified_gmt":"2025-12-16T12:02:40","slug":"the-bulls-are-back","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/the-bulls-are-back\/","title":{"rendered":"The bulls are back"},"content":{"rendered":"<section id=\"579480\" 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=\"579480\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">WHAT WE\u2019RE TRACKING TONIGHT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/this-evening-saudi-firms-could-pour-another-usd-3-bn-into-renewables-in-egypt-russia-rejoins-wheat-export-agreement\/\">\r\n                            THIS EVENING: Saudi firms could pour another USD 3 bn into renewables in Egypt + Russia rejoins wheat export agreement                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/this-evening-saudi-firms-could-pour-another-usd-3-bn-into-renewables-in-egypt-russia-rejoins-wheat-export-agreement\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/this-evening-saudi-firms-could-pour-another-usd-3-bn-into-renewables-in-egypt-russia-rejoins-wheat-export-agreement\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/this-evening-saudi-firms-could-pour-another-usd-3-bn-into-renewables-in-egypt-russia-rejoins-wheat-export-agreement\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=THIS EVENING: Saudi firms could pour another USD 3 bn into renewables in Egypt + Russia rejoins wheat export agreement&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/this-evening-saudi-firms-could-pour-another-usd-3-bn-into-renewables-in-egypt-russia-rejoins-wheat-export-agreement\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/this-evening-saudi-firms-could-pour-another-usd-3-bn-into-renewables-in-egypt-russia-rejoins-wheat-export-agreement\/&title=THIS EVENING: Saudi firms could pour another USD 3 bn into renewables in Egypt + Russia rejoins wheat export agreement\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=THIS+EVENING%3A+Saudi+firms+could+pour+another+USD+3+bn+into+renewables+in+Egypt+%2B+Russia+rejoins+wheat+export+agreement+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F02%2Fthis-evening-saudi-firms-could-pour-another-usd-3-bn-into-renewables-in-egypt-russia-rejoins-wheat-export-agreement%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/this-evening-saudi-firms-could-pour-another-usd-3-bn-into-renewables-in-egypt-russia-rejoins-wheat-export-agreement\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-579480\" class=\"content-area-description single-story post-579480 post type-post status-publish format-standard hentry category-what-were-tracking-tonight tag-commodities tag-electricity-ministry tag-enterprisepm tag-investment-watch tag-renewables tag-russia-ukraine-war tag-saudi-arabia tag-what-were-tracking-tonight wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Good afternoon, wonderful people<\/strong>, and happy almost-THURSDAY to us all. We have another brisk news day here at home as the lead-up to COP27 brings with it plenty of fresh energy and investment news.<\/p>\n<p><strong>THE BIG STORY TODAY<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>The Electricity Ministry is in talks with six Saudi firms over more than USD 3<\/strong><strong> bn worth of renewable energy projects<\/strong>, <a href=\"https:\/\/www.asharqbusiness.com\/article\/43604\">Bloomberg Asharq<\/a> reports, citing unnamed sources at the Egyptian Electricity Transmission Company (EETC). Electricity Minister Mohamed Shaker is currently in Riyadh holding meetings with companies including Al Fanar, FAS Energy and ACWA Power, with which he signed an agreement on a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/866d0721-9205-4641-bcd0-b61100d2abec\">10-GW wind farm<\/a> earlier this week, the sources said. Shaker is also reportedly meeting with Saudi financing institutions to help drum up financing for the projects.<\/p>\n<p><strong>THE BIG STORY ABROAD<\/strong><\/p>\n<p><strong>Ukraine\u2019s wheat export pact is back on after Russia agreed to rejoin the agreement<\/strong>, following days of shuttle diplomacy from Turkey. Moscow had backed out of the agreement over the weekend after claiming that Ukrainian forces used the safe corridor used to ship grains out of Ukraine to attack Russian naval vessels. The story is on the front pages of <a href=\"https:\/\/www.reuters.com\/world\/europe\/grain-ships-sail-ukraine-ports-russian-missiles-knock-out-power-across-country-2022-10-31\/\">Reuters<\/a>, the <a href=\"https:\/\/www.ft.com\/content\/841f620d-2f2e-43cd-a635-a61576ccff2d\">Financial Times<\/a>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-02\/ukraine-latest-zelenskiy-asks-eu-to-help-restore-power?srnd=premium-middle-east\">Bloomberg<\/a>, <a href=\"https:\/\/www.cnbc.com\/2022\/11\/02\/russia-ukraine-live-updates.html\">CNBC<\/a>, and the <a href=\"https:\/\/www.wsj.com\/articles\/russia-says-it-will-rejoin-ukraine-grain-export-deal-11667385389?mod=hp_lead_pos6\">Wall Street Journal<\/a>.<\/p>\n<hr class=\"grey-line\">\n<p><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM<\/strong>:<\/p>\n<ul>\n<li><strong>ACWA Power could build one of the world\u2019s largest wind farms in Egypt:<\/strong> Saudi renewable energy developer ACWA Power <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/866d0721-9205-4641-bcd0-b61100d2abec\">will build<\/a> a 10-GW wind farm in Egypt after signing an MoU with Egypt\u2019s New and Renewable Energy Authority and the Egyptian Electricity Transmission Company yesterday.<\/li>\n<li><strong>Qatar\u2019s sovereign wealth fund might want in on our green hydrogen ambitions:<\/strong> The Qatar Investment Authority is considering investing in a green hydrogen and ammonia project in the Suez Canal Economic Zone.<\/li>\n<li><strong>Camel Flour acquires struggling flour producer:<\/strong> Al Moatabar Group\u2019s Camel Flour Mills has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3c5c3ce9-ff58-465d-a9a8-5e658aeeb094\">acquired a majority stake<\/a> in the distressed high-end flour producer Five Stars.<\/li>\n<\/ul>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>FOR TOMORROW-<\/strong><\/p>\n<p><strong>The always-on-point Charlie Robertson is doing a talk on his new book, The <\/strong><strong>Time Traveling Economist<\/strong> tomorrow (Thursday, 3 November) at 5pm CLT. The chat will \u201coutline what has held Egypt back in the 20th century and why we should expect a boom time for the economy from about 2025-30 onwards,\u201d Charlie says. The talk is being hosted by the Egyptian Private Equity Association\u2019s Sara Badran and <a href=\"https:\/\/rencap.zoom.us\/webinar\/register\/WN_3HPKQa4FRY-I9G7QKYFKEw\">you can sign up here<\/a>.<\/p>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>It\u2019s PMI day tomorrow:<\/strong> We\u2019ll know how Egypt\u2019s private sector fared in October tomorrow when S&P Global releases the latest purchasing managers\u2019 index at 6:15 CLT. A 22-month contraction in private sector activity didn\u2019t show signs of abating <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2b7956e2-bf64-4f31-872d-460d0234cc4f\">in September<\/a> as high inflation continued to weigh on demand and output.<\/p>\n<p><strong>Key news triggers coming up over the next week:<\/strong><\/p>\n<ul>\n<li><strong>Foreign reserves figures<\/strong> for October will be released next week.<\/li>\n<li><strong>Inflation:<\/strong> Capmas and the central bank will release October\u2019s inflation figures on Thursday, 10 November.<\/li>\n<\/ul>\n<p><strong>SPX to open for international flights next month:<\/strong> Sphinx International Airport will begin operating international flights to several European and Arab countries starting 1 December, state-owned <a href=\"https:\/\/bit.ly\/3UdDqDB\">Al Akhbar Al Yom<\/a> reported yesterday. The airport is opening to domestic flights this month and yesterday received the first flight operated by Air Cairo from Sharm El Sheikh, <a href=\"https:\/\/gate.ahram.org.eg\/News\/3770078.aspx\">Al Ahram<\/a> reported.<\/p>\n<p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- <\/strong>Expect a daytime high of 27\u00b0C tomorrow and a nighttime low of 20\u00b0C, according to our favorite weather app.<\/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\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity-ministry\/\">Electricity Ministry<\/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\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia-ukraine-war\/\">Russia-Ukraine war<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-tonight\/\">WHAT WE\u2019RE TRACKING TONIGHT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"579481\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"579481\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/579481\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-579481\" class=\"content-area-description single-story post-579481 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/palmhillsdevelopments.com\/OurDevelopments'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/CLeo-enterprise-1600px-02-1.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"579482\" 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=\"579482\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">FOR YOUR COMMUTE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/investors-see-a-short-term-bright-spot-in-equities-women-in-management-are-quitting-a-lot\/\">\r\n                            Investors see a short-term bright spot in equities + Women in management are quitting \u2014 a lot                        <\/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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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/576.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"576.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/576.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/576.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-579482\" class=\"content-area-description single-story post-579482 post type-post status-publish format-standard has-post-thumbnail hentry category-for-your-commute tag-capital-markets tag-economy tag-enterprisepm tag-for-your-commute tag-inflation tag-investment-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-02\"><\/a> <strong>It\u2019s been a no good, horrible year for equities \u2014 but the bulls are here to play:<\/strong> More than half (59%) of investors are bullish about short-term stock market performance, while over half predict a recession is coming or has already started, according to a UBS poll cited by <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-02\/is-a-recession-coming-rich-investors-feel-optimistic-despite-economic-risks?srnd=wealth#xj4y7vzkg\">Bloomberg<\/a>. That\u2019s 9 percentage points higher than three months ago when markets sank after a short rally. Nearly 3k high net-worth investors were polled, with 69% of European investors showing optimism about the region\u2019s economy in the coming year. 62% of Asian investors expressed positive prospects for their region over the next year as well, while American investors were less optimistic with only 51% reporting a positive outlook. Nearly two-thirds of global investors are expecting inflation to keep rising, leading 50% of investors to curtail expenditures, according to the poll results.<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Top ranked women at companies are quitting their jobs at the highest rate in years<\/strong>, according to a <a href=\"https:\/\/leanin.org\/women-in-the-workplace-report-2022\">report<\/a> by the McKinsey & Co. and LeanIn.org. For every woman at the director level who gets promoted, two women directors are choosing to quit, according to data collected from 333 US organizations employing over 12 mn people.<\/p>\n<p><strong>Women are just as ambitious, but find it harder to advance: <\/strong>Three main reasons drive women to quit including \u201cmicroaggressions\u201d that compromise their authority and judgment or having their gender or being a parent affect chances for a promotion or a raise. Other reasons include being overworked and under-recognized, despite doing more to support employees in the workplace and demands of flexibility.<\/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\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/for-your-commute\/\">FOR YOUR COMMUTE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"579484\" 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                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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-ggz0t2j\" data-v=\"4\" data-block-id=\"ggz0t2j\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-ggz0t2j-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-ggz0t2j-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 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src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/577.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"579486\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/jazz-it-up-with-a-louis-armstrong-documentary\/577-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/577.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"577.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/577.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/577.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-579485\" class=\"content-area-description single-story post-579485 post type-post status-publish format-standard has-post-thumbnail hentry category-enterprise-recommends-2 tag-enterprise-recommends tag-enterprisepm tag-on-the-tube-tonight wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>? <\/strong><strong>ON THE TUBE TONIGHT-<\/strong><br \/>\n (all times CLT)<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Learn more about the jazz legend Satchmo: <\/strong><a href=\"https:\/\/www.apple.com\/tv-pr\/originals\/louis-armstrongs-black-blues\/\">Louis Armstrong: Black & Blue<\/a> documents the world-famous trumpeter\u2019s accomplishments and introduces him to a younger audience that may not know much beyond his name. The Apple+ documentary takes a revealing look at the music icon through archival material, including radio and television interviews, reel-to-reel audio recordings of private discussions, and old newspaper clippings. Several music titans, including Miles Davis and Leonard Bernstein, contribute their best Armstrong stories, and there are several random nuggets of trivia including how he bought 300 bags of coal for people the first time he played in Baltimore when it was particularly cold and how he performed in brothels in his youth.<\/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\/enterprise-recommends\/\">Enterprise Recommends<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/on-the-tube-tonight\/\">On The Tube Tonight<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"579490\" 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=\"579490\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">GO WITH THE FLOW<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/earnings-watch-prime-holdings-reports-widening-losses\/\">\r\n                            Earnings watch: Prime Holdings reports widening losses                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/earnings-watch-prime-holdings-reports-widening-losses\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/earnings-watch-prime-holdings-reports-widening-losses\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/earnings-watch-prime-holdings-reports-widening-losses\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Earnings watch: Prime Holdings reports widening losses&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/earnings-watch-prime-holdings-reports-widening-losses\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/earnings-watch-prime-holdings-reports-widening-losses\/&title=Earnings watch: Prime Holdings reports widening losses\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Earnings+watch%3A+Prime+Holdings+reports+widening+losses+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F02%2Fearnings-watch-prime-holdings-reports-widening-losses%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/earnings-watch-prime-holdings-reports-widening-losses\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-579490\" class=\"content-area-description single-story post-579490 post type-post status-publish format-standard hentry category-go-with-the-flow tag-earnings-watch tag-enterprisepm tag-go-with-the-flow tag-prime-holding wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>EARNINGS WATCH-<\/strong><\/p>\n<p><strong>Prime Holding\u2019s losses after one-offs and minority interest widened 62% y-o-y in 3Q 2022<\/strong><strong> to EGP<\/strong><strong> 20.9 mn<\/strong>, according to the company\u2019s<a href=\"https:\/\/ent.news\/2022\/11\/Prime-Holding-Q3-22.pdf\">earnings release (pdf)<\/a>. Revenues jumped 6% y-o-y to EGP 27.6 mn.<\/p>\n<hr class=\"grey-line\">\n<p><strong>MARKET ROUNDUP-<\/strong><\/p>\n<p><strong>The EGX30 fell 1.7% at today\u2019s close<\/strong> on turnover of EGP 1.27 bn (15.7% above the 90-day average). Foreign investors were net sellers. The index is down 5.9% YTD.<\/p>\n<p><strong>In the green: <\/strong>Ezz Steel (+3.7%), Alexandria Containers and and Cargo Handling (+2.6%) and Telecom Egypt (+1.2%).<\/p>\n<p><strong>In the red: <\/strong>Fawry (-4.5%), GB Auto (-4.3%) and Madinet Nasr Housing and Development (-4.1%).<\/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\/earnings-watch\/\">earnings watch<\/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\/prime-holding\/\">Prime Holding<\/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=\"579491\" 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=\"579491\">\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\">Macro picture<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/esg-has-a-problem-when-it-comes-to-ems\/\">\r\n                            ESG has a problem when it comes to EMs                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/esg-has-a-problem-when-it-comes-to-ems\/\" 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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In theory, ESG investors should care about improving environmental and ethical standards in emerging-market business practices and production lines. But in practice, many have chosen simply to avoid the hassle of figuring out where standards lie and how to raise them, opting instead to reduce their exposure to EMs and cut out risk, the salmon-colored paper writes.<\/p>\n<p><strong>Emerging economies desperately need investment:<\/strong> The financing gap for developing countries to meet UN sustainable development goals is now estimated at USD 4.3 tn annually, An additional USD 2 tn per year is required to help EMs face climate change alone \u2014 and that\u2019s excluding China, Nigel Topping, the UK\u2019s climate change champion, tells the FT. \u201cWe know that 70 per cent plus of that needs to be private finance,\u201d he said.<\/p>\n<p><strong>Some pension funds and sovereign wealth funds are taking an \u201cactive\u201d investing approach \u2014 but not so much when it comes to EMs. <\/strong>Many big funds take the stance that it\u2019s better to hold minority stakes in ESG non-compliant companies \u2014 oil and gas, for example \u2014 so that they can have a seat at the table and push these firms towards better practices. But that logic hasn\u2019t extended to EMs, where fund managers cite fewer protections for minority stakeholders and more fragile institutions as barriers to this \u2018impact investment\u2019 approach.<\/p>\n<p><strong>Norway's sovereign wealth fund \u2014 the world's largest \u2014 last year added no new EM assets<\/strong>, citing a plan to apply uniform ethical and environmental standards to all its investments. \u201cSome of the pension funds and sovereign wealth funds are really concerned to avoid headlines about exposures they have, whether to poor labor practices or government corruption,\u201d said Stuart Theobald, co-founder of research consultancy Intellidex.<\/p>\n<p><strong>Lack of data is another barrier: <\/strong>Over half of investors polled by the FT said a lack of data was an obstacle to ESG investing in EMs, and all of them said they were not satisfied with corporate disclosure on EM ESG risk. EM companies can struggle to comply with differing local and international standards for social and environmental impact assessments, and universal standardization for ESG disclosures is still a long way away. Even where companies provide all the necessary data, wrong formatting, a lack of knowledge on how to approach ESG disclosures, or a mismatch in contextual considerations can mean they\u2019re unfairly screened out on the basis of ESG criteria.<\/p>\n<p><strong>If the \u2018good guys\u2019 don\u2019t invest, the other guys will: <\/strong>Where EMs can\u2019t find ESG investors, stakes in their companies and projects could be snapped up by players who are more apathetic about sustainability. \u201cWhat it does is shift companies from investors who have a concern about these issues to those who are largely indifferent to them,\u201d Colin Mayer, professor at Oxford University\u2019s Sa\u00efd Business School, tells the FT.<\/p>\n<p><strong>That could dangerously limit financing sources for some developing countries<\/strong>, says Alison Taylor, a specialist in ethical business at New York University\u2019s Stern School of Business. \u201cThis is arguably worse than divestment out of oil and gas, because if you divest from a country, you leave it to organised crime, terrorist financing and violence,\u201d she tells the FT.<\/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\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/esg\/\">ESG<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/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\/macro-picture\/\">MACRO PICTURE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"579493\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/579493\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-579493\" class=\"content-area-description single-story post-579493 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>NOVEMBER<\/strong><\/p>\n<p>1 November (Tuesday): Deadline for importers, exporters and customs brokers to join Nafeza.<\/p>\n<p>1-2 November (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>1-2 November (Tuesday-Wednesday): Arab League annual summit, Algiers, Algeria.<\/p>\n<p>3-5 November (Thursday-Saturday): Egypt Fashion Week.<\/p>\n<p>4-6 November (Friday-Sunday): <a href=\"https:\/\/www.autotechegypt.com\/en\/home.html\">Autotech<\/a> auto exhibition, Cairo International Exhibition and Convention Center.<\/p>\n<p>5-8 November (Sunday-Tuesday): Techne Summit for Investment and Entrepreneurship, Alexandria, Egypt<\/p>\n<p>6-18 November (Sunday-Friday): Egypt will host <a href=\"https:\/\/cop27.eg\/\">COP27<\/a> in Sharm El Sheikh.<\/p>\n<p>7 November (Monday): <a href=\"https:\/\/www.greeninitiatives.gov.sa\/about-mgi\/\">Middle East Green Initiative<\/a>, Sharm El Sheikh.<\/p>\n<p>7 November (Monday): The inauguration of the first line of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e2356273-f17c-4a5b-a987-663aab9a2e29\">high-speed rail<\/a>.<\/p>\n<p>9 November (Wednesday): Finance Ministry to host \u201c<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid029A7ytdAhcMYQsLo8xQ6Ne5FuvWWDty9yYj66v4LMifKZ611tqzps8jkcw4P7fLMhl\">Finance Day<\/a>\u201d at COP27.<\/p>\n<p>11-12 November (Friday-Saturday): <a href=\"https:\/\/www.greeninitiatives.gov.sa\/about-sgi\/\">Saudi Green Initiative<\/a>, Sharm El Sheikh.<\/p>\n<p>7-13 November (Monday-Sunday): The International University Sports Federation (FISU) <a href=\"https:\/\/www.worldsquash.org\/2022-fisu-world-university-championship-squash-to-take-place-in-egypt\/\">World University<\/a> Squash Championships, New Giza.<\/p>\n<p>13 November (Sunday): Senate back in session.<\/p>\n<p>15-16 November (Tuesday-Wednesday): <a href=\"https:\/\/www.g20.org\/bali-summit\/\">G20 summit<\/a>, Bali, Indonesia.<\/p>\n<p>21 November-18 December (Monday-Sunday): 2022 Fifa World Cup, Qatar.<\/p>\n<p>22 November- 23 November (Tuesday-Wednesday): <a href=\"http:\/\/thefingerprintsummit.org\/#\/speakersnew\">The Fingerprint Summit<\/a> will be held at the Nile Ritz Carlton Hotel.<\/p>\n<p>27 - 28 November (Thursday-Friday): The first edition of the <a href=\"https:\/\/twitter.com\/Extranewstv\/status\/1579478836366176256\">Egypt Media Forum<\/a>.<\/p>\n<p>27-30 November (Sunday-Wednesday): <a href=\"https:\/\/cairoict.com\/\">Cairo ICT<\/a>, Egypt International Exhibition Center, New Cairo.<\/p>\n<p><strong>DECEMBER<\/strong><\/p>\n<p>1 December (Thursday): Sphinx International Airport <a href=\"https:\/\/bit.ly\/3UdDqDB\">will begin operating<\/a> international flights.<\/p>\n<p>3 December (Saturday): Dior Men\u2019s pre-fall collection show in Giza.<\/p>\n<p>10-12 December (Saturday-Monday): The 2nd edition of the <a href=\"https:\/\/www.facebook.com\/NebuGoldExpo\/\">Nebu Expo for Gold and Jewelry<\/a>kicks off.<\/p>\n<p>13-14 December (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>13-15 December (Tuesday-Thursday): US-Africa Leaders Summit.<\/p>\n<p>15 December (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>22 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>December: The Sixth of October dry port <a href=\"https:\/\/bit.ly\/3u3uB4u\">will begin operations<\/a>.<\/p>\n<p>December: Egyptian Automotive Summit.<\/p>\n<p>December: Egypt to <a href=\"https:\/\/bit.ly\/3bVoWYy\">expand Sudan electricity link capacity<\/a> to 300 MW.<\/p>\n<p><strong>JANUARY 2023<\/strong><\/p>\n<p>January: EGX-listed companies and non-bank lenders will submit ESG reports for the first time.<\/p>\n<p>January: Fuel pricing committee meets to decide quarterly fuel prices.<\/p>\n<p>1 January (Sunday): Use of Nafeza <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/381373340699759\">becomes compulsory<\/a> for air freight.<\/p>\n<p>1 January (Sunday): Residential electricity bills are set to rise as per the government\u2019s <a href=\"https:\/\/ent.news\/2020\/6\/%D8%A7%D9%84%D9%85%D8%A4%D8%AA%D9%85%D8%B1-%D8%A7%D9%84%D8%B5%D8%AD%D9%81%D9%89-%D9%84%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A1-%D9%84%D9%84%D8%AE%D9%85%D8%B3-%D8%B3%D9%86%D9%88%D8%A7%D8%AA-%D8%A7%D9%84%D9%82%D8%A7%D8%AF%D9%85%D8%A9-9-6-2020-1.pdf\">six-year roadmap (pdf)<\/a> to restructure electricity prices by 2025.<\/p>\n<p>7 January (Saturday): Coptic Christmas.<\/p>\n<p>24 January-6 February: The 54th Cairo International Book Fair, Egypt International Exhibition Center<\/p>\n<p>25 January (Wednesday): 25 January revolution anniversary \/ Police Day.<\/p>\n<p>26 January (Thursday): National holiday in observance of 25 January revolution anniversary \/ Police Day.<\/p>\n<p>30 January-1 February (Monday-Wednesday): CI Capital\u2019s Annual MENA Investor Conference 2023, Cairo, Egypt.<\/p>\n<p><strong>FEBRUARY 2023<\/strong><\/p>\n<p>11 February (Saturday): Second semester of 2022-2023 academic year begins for public universities.<\/p>\n<p>13-15 February (Monday-Wednesday): The <a href=\"https:\/\/www.egyps.com\/\">Egypt Petroleum Show (Egyps)<\/a>, Egypt International Exhibition Center, Cairo.<\/p>\n<p>23-27 February (Thursday-Monday): Annual Business Women of Egypt\u2019s Women for Success conference.<\/p>\n<p><strong>MARCH 2023<\/strong><\/p>\n<p>March: 4Q2022 earnings season.<\/p>\n<p>23 March (Wednesday): First day of Ramadan (TBC). Maghreb will be at 6:08pm CLT.<\/p>\n<p><strong>APRIL 2023<\/strong><\/p>\n<p>17 April (Monday): Sham El Nessim.<\/p>\n<p>22 April (Saturday): Eid El Fitr (TBC).<\/p>\n<p>25 April (Tuesday): Sinai Liberation Day.<\/p>\n<p>27 April (Thursday): National holiday in observance of Sinai Liberation Day (TBC).<\/p>\n<p>Late April \u2013 15 May: 1Q2023 earnings season.<\/p>\n<p><strong>MAY 2023<\/strong><\/p>\n<p>1 May (Monday): Labor Day.<\/p>\n<p>4 May (Thursday) National holiday in observance of Labor Day (TBC).<\/p>\n<p>22-26 May (Monday-Friday): Egypt <a href=\"https:\/\/www.afdb.org\/en\/news-and-events\/press-releases\/african-development-bank-group-concludes-annual-meetings-governors-endorse-banks-vision-next-10-years-51974#:~:text=The%20new%20Board%20of%20Governors,from%2022%2D26%20May%202023.\">will host<\/a> the African Development Bank (AfDB) annual meetings in Sharm El Sheikh.<\/p>\n<p><strong>JUNE 2023<\/strong><\/p>\n<p>19-21 June (Monday-Wednesday) Egypt Infrastructure and Water Expo <a href=\"https:\/\/ent.news\/2022\/9\/Announcement__EGYPT_INFRASTRUCTURE_AND_WATER_EXPO_LAUNCHES_JUNE_2023.pdf\">debuts<\/a> at the Egypt International Exhibition Center.<\/p>\n<p>28 June-2 July (Wednesday-Sunday): Eid El Adha (TBC).<\/p>\n<p>30 June (Friday): June 30 Revolution Day.<\/p>\n<p><strong>JULY 2023<\/strong><\/p>\n<p>18 July (Tuesday): Islamic New Year.<\/p>\n<p>20 July (Thursday): National holiday in observance of Islamic New Year (TBC).<\/p>\n<p>23 July (Sunday): Revolution Day.<\/p>\n<p>27 July (Thursday): National holiday in observance of Revolution Day.<\/p>\n<p>Late July-14 August: 2Q2023 earnings season.<\/p>\n<p><strong>SEPTEMBER 2023<\/strong><\/p>\n<p>26 September (Tuesday): Prophet Muhammad\u2019s birthday (TBC).<\/p>\n<p>28 September (Thursday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/p>\n<p><strong>OCTOBER 2023<\/strong><\/p>\n<p>6 October (Friday): Armed Forces Day.<\/p>\n<p>Late October-14 November: 3Q2023 earnings season.<\/p>\n<p><strong>EVENTS WITH NO SET DATE <\/strong><\/p>\n<p>2H 2022: The inauguration of the Grand Egyptian Museum.<\/p>\n<p>2H 2022: <a href=\"https:\/\/www.ief.org\/news\/egypt-to-host-8th-ief-igu-ministerial-gas-forum-in-2022\">IEF-IGU Ministerial Gas Forum<\/a>, Egypt. Date + location TBA.<\/p>\n<p>2H 2022: The government will have vaccinated 70% of the population.<\/p>\n<p>3Q 2022: Ayady\u2019s consumer financing arm, The Egyptian Company for Consumer Finance Services, to release its first financing product.<\/p>\n<p>3Q 2022: Swvl to close <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/53e17b15-78b9-421a-81f5-9d3d5ee0227d\">acquisition of<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/53e17b15-78b9-421a-81f5-9d3d5ee0227d\">Urbvan<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/53e17b15-78b9-421a-81f5-9d3d5ee0227d\">Mobility<\/a>.<\/p>\n<p>4Q 2022: Infinity + Africa Finance Corporation to close acquisition of Lekela Power.<\/p>\n<p>End of November: SFE\u2019s pre-IPO fund <a href=\"https:\/\/twitter.com\/AsharqBusiness\/status\/1586689461504589827\">to kick off<\/a>roadshow.<\/p>\n<p>4Q 2022: Electricity Ministry to tender six solar projects in Aswan Governorate.<\/p>\n<p>4Q2022: Raya Holding subsidiary Aman and Qalaa Holdings\u2019 Taqa Arabia to launch their fintech company.<\/p>\n<p>4Q 2022: Saudi Jamjoom Pharma to <a href=\"https:\/\/bit.ly\/3R7SGzP\">inaugurate its EGP 1 bn pharma factory<\/a> in El Obour.<\/p>\n<p>End of 2022: Decent Life first phase scheduled for completion.<\/p>\n<p>End of 2022: e-Aswaaq\u2019s tourism platform will complete the roll out of its ticketing and online booking portal across Egypt.<\/p>\n<p>2023: Egypt <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/380561820780911\">will host<\/a> the Asian Infrastructure Investment Bank\u2019s Annual Meeting of the Board of Governors in 2023.<\/p>\n<p>1Q 2023: Adnoc Distribution\u2019s acquisition of 50% of TotalEnergies Egypt to close.<\/p>\n<p>1Q2023: Internal trade database to <a href=\"https:\/\/hapijournal.com\/?p=212185\">launch<\/a>.<\/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":579479,"template":"","categories":[],"tags":[],"class_list":["post-579478","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"ff65dadb-4ad5-4ed6-8b5b-f61d22b5b23a","teaser":"","photo_url":"https:\/\/ent.news\/2022\/11\/557.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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