{"id":579831,"date":"2022-11-22T13:28:05","date_gmt":"2022-11-22T13:28:05","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=579831"},"modified":"2025-12-16T12:11:30","modified_gmt":"2025-12-16T12:11:30","slug":"the-battle-for-ev-batteries","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/the-battle-for-ev-batteries\/","title":{"rendered":"The battle for EV batteries"},"content":{"rendered":"<section id=\"579833\" 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=\"579833\">\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\/22\/hisham-ezz-al-arab-reappointed-to-cib-board\/\">\r\n                            Hisham Ezz Al Arab reappointed to CIB board                        <\/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\/22\/hisham-ezz-al-arab-reappointed-to-cib-board\/\" 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\/22\/hisham-ezz-al-arab-reappointed-to-cib-board\/')\">\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\/22\/hisham-ezz-al-arab-reappointed-to-cib-board\/\">\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=Hisham Ezz Al Arab reappointed to CIB board&url=https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/hisham-ezz-al-arab-reappointed-to-cib-board\/\">\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\/22\/hisham-ezz-al-arab-reappointed-to-cib-board\/&title=Hisham Ezz Al Arab reappointed to CIB board\">\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=Hisham+Ezz+Al+Arab+reappointed+to+CIB+board+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F11%2F22%2Fhisham-ezz-al-arab-reappointed-to-cib-board%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\/22\/hisham-ezz-al-arab-reappointed-to-cib-board\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-579833\" class=\"content-area-description single-story post-579833 post type-post status-publish format-standard hentry category-what-were-tracking-tonight tag-cryptocurrency tag-enterprisepm tag-hisham-ezz-al-arab tag-what-were-tracking-tonight wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Good afternoon, wonderful people.<\/strong> It\u2019s been a slowish start to the news day, but we expect things to pick up as the afternoon wears on. And we\u2019re working with big grins on our faces after <strong>Saudi\u2019s shock 2-1 victory against Argentina <\/strong>in the first of today\u2019s World Cup matches.<\/p>\n<p><strong>THE BIG STORY TODAY-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Hisham Ezz Al Arab is back at CIB: <\/strong>Ezz Al Arab (<a href=\"https:\/\/eg.linkedin.com\/in\/hisham-ezz-al-arab-4510714b\">LinkedIn<\/a>) has returned to CIB\u2019s board of directors as a non-executive director, on the recommendation of the board and following the approval of the central bank yesterday, according to a CIB <a href=\"https:\/\/ent.news\/2022\/11\/Mr.-Hisham-Ezz-joins-BoDs-E.pdf\">statement<\/a>. Ezz Al Arab led CIB to its position as Egypt\u2019s leading home-grown bank in everything from profitability to sustainability as its chairman and managing director between 2002 and 2020, before <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/17847e29-9c0f-43ba-a6e6-a84a525dcc22\">stepping down<\/a> after a central bank audit said it found regulatory, compliance and governance concerns. He was appointed an <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/50d85511-3691-4546-a84e-742f5a09bc61\">adviser to CBE governor Hassan Abdallah<\/a> over the summer, after Abdallah took over the reins at the central bank from Tarek Amer.<\/p>\n<p><strong>CIB shares were up 1.47% <\/strong>to close at EGP 38.05 on the news.<\/p>\n<p><strong>THE BIG STORY ABROAD-<\/strong><\/p>\n<p><strong>The business press still can\u2019t tear its gaze from the meltdown at FTX. <\/strong>One-time crypto darling Sam Bankman-Fried\u2019s failed firm FTX will appear in Delaware bankruptcy court later on today, the <a href=\"https:\/\/www.wsj.com\/articles\/what-to-expect-as-ftx-debuts-biggest-crypto-chapter-11-in-court-11669077052?mod=hp_lead_pos2\">Wall Street Journal<\/a> reports. Management at the defunct firm has located more assets at the company ahead of the court hearing, bringing the running tally to USD 1.24 bn, according to the <a href=\"https:\/\/www.ft.com\/content\/ecafba91-abb7-4445-836c-b3be910e85bd\">Financial Times<\/a>. And <a href=\"https:\/\/www.reuters.com\/technology\/exclusive-bankman-frieds-ftx-parents-bought-bahamas-property-worth-121-mln-2022-11-22\/\">Reuters<\/a> is reporting that the company, Bankman-Fried\u2019s parents, and senior executives built a USD 121 mn property portfolio in the Bahamas before it all went belly up.<\/p>\n<p><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM:<\/strong><\/p>\n<ul>\n<li><strong>Developers interested in bidding for a piece of the Madbouly government\u2019s multi-bn USD <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8c3e3fa-c955-4b59-afe4-e224f08a1718\">water desalination program<\/a><\/strong> can start handing in pre-qualification files starting on Thursday.<\/li>\n<li><strong>Employees at Beltone SME have reportedly <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f40172f6-6b97-41b4-86fe-ec3501799b87\">resigned en masse<\/a><\/strong> in opposition to a restructuring being carried out by parent company Beltone Financial.<\/li>\n<li><strong>Honoris United Universities\u2019 acquisition of Merit University in New Sohag City has <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/de4783cc-b6da-4cf0-8109-727890839040\">fallen through<\/a><\/strong> after the two sides failed to reach an agreement<\/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>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>The US and Russia will hold nuclear talks in Cairo next week: <\/strong>Washington and Moscow will discuss <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d75c978f-3cad-43f3-ac0d-44e5d5ab2b0b\">resuming mutual nuclear inspection<\/a>s during week-long talks from Tuesday, 29 November through to 6 December, Russian Deputy Foreign Minister Sergei Ryabkov said, according to <a href=\"https:\/\/edition.cnn.com\/2022\/11\/18\/politics\/new-start-talks-cairo-2022\/index.html\">CNN<\/a>.<\/p>\n<p><strong>The deadline to apply for the <\/strong><strong><a href=\"https:\/\/www.chicagobooth.edu\/executiveeducation\/programs\/management\/executive-program-el-gouna?fbclid=IwAR2P3G51SElb7ZQin8CZ8hE1o-Qi5d0_p5srOo0ADNI9a1v131AkMFQfmEE\">Chicago Booth Executive Program<\/a><\/strong><strong> in El Gouna is Sunday, <\/strong><strong>27 November.<\/strong> The two-week program, which kicks off in March 2023, offers executives from Egyptian public and private sector the skills to help them \u201cbecome a better leader for your organization and support Egypt\u2019s growth in the years ahead.\u201d<\/p>\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- <\/strong>Expect temperatures to rise to 25\u00b0C during the day tomorrow before falling to 15\u00b0C at night, our favorite weather app tells us.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cryptocurrency\/\">cryptocurrency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hisham-ezz-al-arab\/\">Hisham Ezz Al Arab<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-tonight\/\">WHAT WE\u2019RE TRACKING TONIGHT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"579834\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"579834\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/579834\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-579834\" class=\"content-area-description single-story post-579834 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/www.mashreq.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/Web-Mashreq-1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"579835\" 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=\"579835\">\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\/22\/europe-and-the-us-could-become-self-sufficient-in-ev-batteries-by-2030-for-the-small-sum-of-usd-160-bn\/\">\r\n                            Europe and the US could become self-sufficient in EV batteries by 2030 \u2014 for the small sum of USD 160 bn                        <\/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\/22\/europe-and-the-us-could-become-self-sufficient-in-ev-batteries-by-2030-for-the-small-sum-of-usd-160-bn\/\" 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\/22\/europe-and-the-us-could-become-self-sufficient-in-ev-batteries-by-2030-for-the-small-sum-of-usd-160-bn\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/europe-and-the-us-could-become-self-sufficient-in-ev-batteries-by-2030-for-the-small-sum-of-usd-160-bn\/696-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/696.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"696.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/696.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/696.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-579835\" class=\"content-area-description single-story post-579835 post type-post status-publish format-standard has-post-thumbnail hentry category-for-your-commute tag-enterprisepm tag-evs tag-for-your-commute tag-industry tag-manufacturing tag-sports tag-world-cup 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 West could unwind its reliance on Chinese EV batteries by the end of the <\/strong><strong>decade \u2014 but it\u2019s going to come with a hefty price tag, <\/strong>Goldman Sachs strategists wrote in a report seen by the <a href=\"https:\/\/www.ft.com\/content\/458ebaf3-c1ee-499c-b7f3-2e5d7f1bb6df\">Financial Times<\/a>. The US and Europe would need to put down more than USD 160 bn in capex spending to become self-sufficient in EV batteries and break their reliance on Chinese manufacturers, who currently hold some 75% of market share. Protectionist policies, alternative kinds of batteries that don\u2019t rely on minerals mined mainly in China, and more battery recycling could also help break Beijing\u2019s dominance in the industry.<\/p>\n<p><strong>South Koren firms are stepping in: <\/strong>Major government subsidies have attracted South Korean giants LG and SK to invest in EV battery factories in the US. Goldman thinks US-based Korean manufacturers could capture more than half of market share in the next three years, up from a current 11%. LG Chem only today announced <a href=\"https:\/\/www.ft.com\/content\/3f3930ab-daf2-476f-86b5-638b575d6028\">it will build<\/a> a new USD 3 bn battery cathode factory in Tennessee, the largest of its kind in the US.<\/p>\n<p><strong>Not everyone thinks China can be beat so easily: <\/strong>One EV consultant told the FT that Goldman\u2019s USD 160 bn estimate is way below what\u2019s needed, adding that the 2030 time frame is too optimistic and the impact of battery recycling had been overestimated. The US is already facing labor shortages and wage inflation, making EV batteries more expensive to produce \u2014 with capex per unit some 78% higher than in China.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Earmark more time for your World Cup watch parties: <\/strong>The first five World Cup matches saw an average of 16 extra minutes of playtime, as FIFA changes up its rules to more accurately measure stoppages and maximize time when the ball is in play. The England-Iran match ran for 30 minutes longer than scheduled after a goalkeeper and a defender were injured, while yesterday\u2019s other matches also all saw significant extra time, football news outlet <a href=\"https:\/\/www.goal.com\/en\/news\/explained-why-so-much-added-time-world-cup-qatar\/bltf06b5d6c75f03bb6\">Goal<\/a> reports. \u201cThink about it: if you have three goals in a half, you'll probably lose four or five minutes in total to celebrations and the restart\u201d alone, chairman of FIFA's referees committee, Pierluigi Collina, told <a href=\"https:\/\/www.espn.com\/soccer\/blog-marcottis-musings\/story\/4805140\/pierluigi-collina-talks-to-espn-about-world-cup-refereeing\">ESPN (Listen: 1:08:35).<\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/evs\/\">EVs<\/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\/industry\/\">industry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-cup\/\">World Cup<\/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=\"579837\" 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=\"579837\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/579837\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-579837\" class=\"content-area-description single-story post-579837 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/palmhillsdevelopments.com\/OurDevelopments'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/CLeo-enterprise-1600px-02-1.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"579838\" 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=\"579838\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">ENTERPRISE RECOMMENDS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/morgan-freeman-is-a-troubled-detective-in-along-came-a-spider\/\">\r\n                            Morgan Freeman is a troubled detective in Along Came A Spider                        <\/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\/22\/morgan-freeman-is-a-troubled-detective-in-along-came-a-spider\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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alt=\"\" data-attachment-id=\"579839\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/morgan-freeman-is-a-troubled-detective-in-along-came-a-spider\/697-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/697.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"697.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/697.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/697.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-579838\" class=\"content-area-description single-story post-579838 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-03\"><\/a> <strong>Along came an underrated Morgan Freeman classic: <\/strong>2001\u2019s <a href=\"https:\/\/www.imdb.com\/title\/tt0164334\/\">Along Came<\/a><a href=\"https:\/\/www.imdb.com\/title\/tt0164334\/\">A Spider<\/a> is a high-intensity, neo-noir psychological thriller. Freeman\u2019s detective Alex Cross retires from the force after the traumatic death of his partner in a sting operation. When a senator\u2019s daughter is kidnapped, he\u2019s drawn back into the drama \u2014 only to discover that the criminal was targeting Cross himself all along. So far, so cheesy \u2014 but Freeman is captivating as always, elevating this classic detective romp into more than just a guilty pleasure. Adapted from a James Patterson novel of the same name, Along Came A Spider is the second in a trilogy of Alex Cross films that began with 1997\u2019s <a href=\"https:\/\/www.imdb.com\/title\/tt0119468\/\">Kiss The Girls<\/a> (also starring Freeman) and ended with 2012 reboot <a href=\"https:\/\/www.imdb.com\/title\/tt1712170\/?ref_=fn_al_tt_1\">Alex Cross<\/a>, with Tyler Perry in the titular role. We can confidently say that Along Came A Spider is the only one of the three worth seeing. Find it on <a href=\"https:\/\/www.netflix.com\/ae-en\/title\/60002273\">Netflix<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-recommends\/\">Enterprise Recommends<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/on-the-tube-tonight\/\">On The Tube Tonight<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"579844\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n           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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\" 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239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"579845\" 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=\"579845\">\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\/22\/the-market-on-tuesday-22-november-2022\/\">\r\n                            The market on Tuesday 22 November, 2022                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/the-market-on-tuesday-22-november-2022\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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               <\/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\/22\/the-market-on-tuesday-22-november-2022\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-579845\" class=\"content-area-description single-story post-579845 post type-post status-publish format-standard hentry category-go-with-the-flow tag-egx tag-enterprisepm tag-go-with-the-flow wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The EGX30 rose 1.39% at today\u2019s close<\/strong> on turnover of EGP 1.79 bn (32.7% above the 90-day average). Local investors were net buyers. The index is up 5.63% YTD.<\/p>\n<p><strong>In the green: <\/strong>Heliopolis Housing (+5.7%), Alexandria Containers and Cargo Handling (+4.8%) and Fawry (+4.5%).<\/p>\n<p><strong>In the red: <\/strong>Ezz Steel (-3.3%), Elsewedy Electric (-2.4%) and Juhayna (-1.8%).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/go-with-the-flow\/\">Go with the Flow<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"579846\" 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=\"579846\">\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\">Founder of the Week<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/22\/meet-our-founders-of-the-weekco-55s-farah-and-ahmed-salim\/\">\r\n                            Meet our founders of the week:CO-55\u2019s Farah and Ahmed Salim                        <\/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\/22\/meet-our-founders-of-the-weekco-55s-farah-and-ahmed-salim\/\" 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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Speaking to us this week are Farah (<a href=\"https:\/\/www.linkedin.com\/in\/farah-selim-5512a0113?trk=people-guest_people_search-card&originalSubdomain=eg\">LinkedIn<\/a>) and Ahmed Selim (<a href=\"https:\/\/www.linkedin.com\/in\/ahmed-selim-01a55119b\/?trk=public_profile_browsemap_profile-result-card_result-card_full-click&originalSubdomain=eg\">LinkedIn<\/a>), siblings and co-founders of co-working space startup <a href=\"https:\/\/www.co55eg.com\">CO-55<\/a>.<\/p>\n<p><strong>We both studied at Northeastern University in Boston before joining the family business<\/strong>, an export-import firm. We worked there for two years until we noticed a gap in the market for co-working spaces and seized the chance by establishing CO-55 three years ago.<\/p>\n<p><strong>We first came up with the idea for CO-55<\/strong> after noticing that entrepreneurship is becoming increasingly popular among younger generations and that social media was placing a lot of attention on the startup ecosystem. We wanted to find a way to service the industry \u2014 all of these businesses would require a working location at some point in time.<\/p>\n<p><strong>We were introduced to different co-working space concepts while living in the US<\/strong>. We conducted market research and discovered that 99% of co-working spaces operating in Egypt were housed in two-bedroom residential apartments and lacked a license. The remaining 1% were affiliated with global companies that needed an office to use when visiting Egypt on business. Since 2019, it has been our job to build something that is entirely Egyptian, meets international standards, and serves all startups.<\/p>\n<p><strong>Before we entered the industry, we wanted to learn everything we could about it. <\/strong>There were few market participants at the time and no manual for how to carry out the business. We were taking shifts at the front desk and juggling work to understand the ins and outs of the business.<\/p>\n<p><strong>Three years later, we have reached the point where we have accumulated enough knowledge to begin expanding<\/strong>. We established two new facilities in New Cairo this year.<\/p>\n<p><strong>We have shifted our focus to serviced offices<\/strong>. We currently cater to multinational corporations that want to operate in Egypt but do not want to own assets and prefer flexibility. Companies are also showing heightened interest in satellite offices, as employees are becoming more reluctant to commute. Now our clients include <a href=\"https:\/\/www.vmware.com\/mena.html\">VMWare<\/a>, <a href=\"https:\/\/www.myoncare.com\">Oncare<\/a>, <a href=\"https:\/\/web.didiglobal.com\/eg\/\">DiDi<\/a> and <a href=\"https:\/\/www.verizon.com\">Verizon<\/a>. We owe a great deal to our outsourced services from <a href=\"https:\/\/www.instagram.com\/leosdenagency\/?hl=en\">LEOS\u2019 DEN<\/a> marketing agency and <a href=\"https:\/\/www.instagram.com\/twoemms\/?hl=en\">Two Emms<\/a> interior design firm.<\/p>\n<p><strong>Farah<\/strong>: <strong>The best part about our job is hearing positive feedback<\/strong>. This brightens my day. It also makes me really happy when I introduce myself to someone and mention CO-55 and they already know about it.<\/p>\n<p><strong>Ahmed<\/strong>: <strong>The best thing about our job is that we get insights about how the economy is performing<\/strong>. Companies \u2014 no matter what field they operate in or how big or small they are \u2014 are always looking for workspaces. Sometimes there are a lot of international corporations interested in opening offices, and other times there aren't any leads or sales. We also work with a variety of industries, which allows us to become acquainted with and have a comprehensive understanding of the job industry as a whole.<\/p>\n<p><strong>The worst aspect of our job is the stress, responsibility, and its ups and downs<\/strong>. We have a lot of responsibility and monthly commitments to meet. Also, we\u2019ve switched all of our attention, energy, effort, time, and money to CO-55, which forced us to quit working on other projects.<\/p>\n<p><strong>The three most important KPIs we monitor on a regular basis<\/strong> are office turnover, occupancy rate, and how quickly we occupy the space. We always aim to open the space with at least 40-50% occupancy, and the footfall and how busy the space is are also crucial KPIs for us.<\/p>\n<p><strong>When we have a problem at work, we always turn to our father<\/strong>. He has more than 30 years of experience in real estate, including residential complexes, commercial centers, five-star hotels, and administrative offices. CO-55 is a real estate company with a twist, so he knows how to help. He\u2019s also always challenging us to think outside the box and determine our next steps.<\/p>\n<p><strong>Moving forward, our plan is to expand to more governorates, but with tailored services and offerings<\/strong>. We want to build an infrastructure that provides people working in governorates with good internet, amenities, and all the necessary services for a comprehensive and spacious working environment that matches them and the nature of their work.<\/p>\n<p><strong>Our future plans also include owning the assets we operate rather than renting them.<\/strong> We have already purchased a property in New Cairo and will begin operations in Q4 2023. We are also heading to Sheikh Zayed very soon.<\/p>\n<p><strong>If we could give budding entrepreneurs one piece of advice<\/strong>, it would be to grow a thick skin and to be extremely resilient and persistent. We also encourage working with a co-founder.<\/p>\n<p><strong>Farah<\/strong>:<strong> I believe we are aligned in terms of business inspiration<\/strong>. We were inspired by the energy of \u201cI want to establish my own business and be the CEO of myself.\u201d There was a lot of potential, and we were able to be very generous with our spaces given there was no adequate competition.<\/p>\n<p><strong>Being a startup founder is a lonely journey<\/strong>. You must forego your social life and other interests in order to focus on your career, and establish the name you told yourself you would build.<\/p>\n<p><strong>Ahmed<\/strong>: <strong>The last great thing I watched<\/strong> was <a href=\"https:\/\/www.hulu.com\/movie\/wework-or-the-making-and-breaking-of-a-47-billion-unicorn-c6deead3-f45f-43c6-b8bf-fc56e9f8a589\">WeWork: Or the Making and Breaking of a USD 47 bn Unicorn<\/a>.<\/p>\n<p><strong>At first, our family was very skeptical of the industry<\/strong>. However, now that we have reassured them, they are happy and proud of what we do.<\/p>\n<p><strong>Farah<\/strong>:<strong> A startup I believe is killing it<\/strong> is <a href=\"https:\/\/thndr.app\/eg\/\">Thndr<\/a>. <strong>Ahmed<\/strong>: I believe <a href=\"https:\/\/www.breadfast.com\">Breadfast<\/a> and <a href=\"https:\/\/www.maxab.io\">MaxAB<\/a> are doing a great job.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ahmed-selim\/\">Ahmed Selim<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/co-55\/\">CO-55<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/farah-selim\/\">Farah Selim<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/founder-of-the-week\/\">FOUNDER OF THE WEEK<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"579848\" 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\/22\/579848\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-579848\" class=\"content-area-description single-story post-579848 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>13-22 November (Sunday-Tuesday): <a href=\"https:\/\/www.ciff.org.eg\/\">Cairo International Film Festival (CIFF)<\/a>.<\/p>\n<p>20 November-18 December (Sunday-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 November (Sunday): Senate in session.<\/p>\n<p>27-28 November (Sunday-Monday): 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> and Pafix, Egypt International Exhibition Center, New Cairo.<\/p>\n<p>29 November - 6 December (Tuesday-Tuesday): US and Russia <a href=\"https:\/\/edition.cnn.com\/2022\/11\/18\/politics\/new-start-talks-cairo-2022\/index.html\">to hold talks<\/a> on resuming mutual nuclear inspections in 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>1 December (Thursday): Contractors to <a href=\"https:\/\/www.youm7.com\/5964288\">break ground<\/a> on Egypt-Saudi interconnection project.<\/p>\n<p>3 December (Saturday): Dior Men\u2019s pre-fall collection show in Giza.<\/p>\n<p>5-8 December (Monday-Thursday): QS <a href=\"https:\/\/www.reimagine-education.com\/agenda\/\">Reimagine Education Awards and Conference<\/a>, multiple locations.<\/p>\n<p>5-7 December (Monday-Wednesday): <a href=\"https:\/\/foodafrica-expo.com\/\">Food Africa 2022<\/a> kicks off at Egypt International Exhibitions Center.<\/p>\n<p>6 December (Tuesday): <a href=\"https:\/\/climatexforum.enterprise.press\/\">Enterprise Climate X Forum<\/a>, Grand Egyptian Museum.<\/p>\n<p>7 December (Wednesday): <a href=\"https:\/\/events.euromoney.com\/event\/3bd9d782-7c1b-47db-85de-840ccd977928\/summary\">Euromoney Egypt 2022<\/a>conference<\/p>\n<p>10 December (Saturday): The TriFactory\u2019s <a href=\"https:\/\/www.thetrifactory.com\/pyramidshalfmarathon\">Pyramids Half Marathon<\/a>.<\/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>December: Chinese President Xi Jinping <a href=\"https:\/\/www.reuters.com\/business\/cop\/trade-security-agenda-xi-visit-saudi-arabia-saudi-minister-2022-11-12\/\">visit<\/a>to Saudi Arabia<\/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>January: Infinity + Africa Finance Corporation to close acquisition of Lekela Power.<\/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>1 April (Saturday): Deadline for banks to establish sustainability unit.<\/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>End of December\/early January: SFE\u2019s pre-IPO fund <a href=\"https:\/\/www.alborsaanews.com\/2022\/11\/20\/1599698\">to kick off<\/a>roadshow.<\/p>\n<p>4Q 2022: Electricity Ministry to tender six solar projects in Aswan Governorate.<\/p>\n<p>4Q 2022: Raya Holding subsidiary Aman and Qalaa Holdings\u2019 Taqa Arabia to launch their fintech company.<\/p>\n<p>4Q 2022: Saudi Arabia\u2019s 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>1Q 2023: Internal trade database to <a href=\"https:\/\/hapijournal.com\/?p=212185\">launch<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":579832,"template":"","categories":[],"tags":[],"class_list":["post-579831","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"04dd49af-16f0-4be0-89ec-5642f7780329","teaser":"","photo_url":"https:\/\/ent.news\/2022\/11\/695.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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