{"id":580433,"date":"2022-12-27T13:16:11","date_gmt":"2022-12-27T13:16:11","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=580433"},"modified":"2025-12-16T12:26:04","modified_gmt":"2025-12-16T12:26:04","slug":"are-nfts-over","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/are-nfts-over\/","title":{"rendered":"Are NFTs over?"},"content":{"rendered":"<section id=\"580435\" 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=\"580435\">\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\/12\/27\/this-evening-egas-launches-oil-and-gas-exploration-tender-banks-and-the-bourse-will-be-off-on-new-years-day\/\">\r\n                            THIS EVENING: EGAS launches oil and gas exploration tender + Banks and the bourse will be off on New Year\u2019s Day                        <\/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\/12\/27\/this-evening-egas-launches-oil-and-gas-exploration-tender-banks-and-the-bourse-will-be-off-on-new-years-day\/\" 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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The EGX has also followed suit and declared Sunday a holiday in light of banks\u2019 closure, in a statement seen by Enterprise.<\/p>\n<p><strong>Enterprise will also be off:<\/strong> Tomorrow is the last day EnterpriseAM and EnterprisePM will be publishing issues until Monday, 2 January. Both editions will be off this Thursday, 29 December and on Sunday, 1 January. Our publishing schedule will return to normal at the appointed hour on Monday, 2 January.<\/p>\n<p><strong>THE BIG STORY TODAY<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>EGAS kicks off oil + gas exploration tender:<\/strong> State-owned Egyptian Natural Gas Holding Company (EGAS) launched today a tender for 12 new oil and gas exploration blocks in the Mediterranean and Nile Delta, according to an <a href=\"https:\/\/www.facebook.com\/story.php?story_fbid=pfbid021VuP7T7CPdVYf2GH5hEPk4Erh7ZQVuFRysw6bf8jiAY4BBZbSbZasXY3DzTQUZBCl&id=100069149411340&mibextid=qC1gEa\">Oil Ministry statement<\/a>. The tender includes six onshore blocks and another six offshore blocks. Companies interested in participating in the tender have until 12pm on 30 April 2023 to submit their bids.<\/p>\n<p><strong>THE BIG STORY ABROAD<\/strong><\/p>\n<p><strong>The reopening of China in a \u201cdecisive break\u201d with covid-zero policies continues to lead<\/strong><strong> the conversation<\/strong> in the international business press this afternoon. As Beijing removes strict policies on quarantine requirements and travel restrictions, Chinese citizens are beginning to make international travel plans for the first time in nearly three years, while US stock futures are also rallying on the policy u-turn. The story is getting ink from the <a href=\"https:\/\/www.ft.com\/content\/eb8530d3-414f-4e65-8ce5-09fba3dbee14\">Financial Times<\/a>, the <a href=\"https:\/\/www.wsj.com\/livecoverage\/stock-market-news-today-12-27-2022?mod=hp_lead_pos2\">Wall Street Journal<\/a>, <a href=\"https:\/\/www.reuters.com\/world\/china\/chinese-make-travel-plans-covid-rules-ease-further-2022-12-27\/\">Reuters<\/a>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-12-27\/chinese-public-shows-mixed-emotions-about-covid-zero-ending\">Bloomberg<\/a>, and <a href=\"https:\/\/www.cnbc.com\/2022\/12\/27\/here-are-the-countries-chinese-tourists-want-to-visit-the-most.html\">CNBC<\/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>It\u2019s official: There are exceptions for FX withdrawal limits.<\/strong> The Central Bank of Egypt yesterday <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2434330e-5463-45cb-9c22-7cfc053796cf\">confirmed reports<\/a> that people withdrawing FX overseas for medical or educational purposes will be exempt from withdrawal limits.<\/li>\n<li><strong>Yet another bidder vying for Pachin:<\/strong> Eagle Chemicals <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/874466e8-8b0c-47fa-ac88-f81e2bc9b58c\">wants to acquire<\/a> 100% of Paint and Chemical Industries (Pachin) for EGP 29.5 a share, the highest offer Pachin has received yet.<\/li>\n<li><strong>Banks to secure FX for letters of credit to help clear import backlogs?<\/strong> El Sisi suggested that banks will in the next four days <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a9fbaa5b-06d1-4489-8452-ed3c84fa6c2f\">acquire the foreign currency<\/a> required to cover letters of credit for goods stuck at ports.<\/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>Companies have T-minus four days to register with the Egyptian Tax Authority\u2019s <\/strong><strong>e-invoicing system <\/strong>after the Finance Ministry <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/268e9e38-7c3a-443c-939d-f83f9142ce5f\">earlier this month<\/a> gave companies an additional two weeks. Only 150k companies had signed up to the new system <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2b338d2e-7242-4675-8656-d831457321b3\">as of the end of November<\/a>, well below a sought goal of 1 mn companies to register under the system.<\/p>\n<p><strong>REMEMBER- This deadline no longer applies to the self-employed: <\/strong>The Finance Ministry <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2bf798f1-37dd-4862-b1eb-536f8c97a47f\">pushed the deadline<\/a> for self-employed professionals \u2014 including doctors, pharmacists and lawyers \u2014 to 30 April 2023 after <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f4811d17-4f27-4d5b-afef-3cbec01f797b\">widespread opposition<\/a> to the system.<\/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 temperatures to fall to 19\u00b0C during the day tomorrow before falling to a crisp 10\u00b0C in the evening, 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\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-ministry\/\">Oil Ministry<\/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=\"580437\" 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=\"580437\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/27\/580437\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-580437\" class=\"content-area-description single-story post-580437 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.mashreqbank.com\/en\/egypt\/personal\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/1600-x-768.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=\"580438\" 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=\"580438\">\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\/12\/27\/has-the-nft-bubble-permanently-burst-meta-isnt-saying-goodbye-to-ar-just-yet-despite-losses\/\">\r\n                            Has the NFT bubble permanently burst? + Meta isn\u2019t saying goodbye to AR just yet, despite 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\/12\/27\/has-the-nft-bubble-permanently-burst-meta-isnt-saying-goodbye-to-ar-just-yet-despite-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\/12\/27\/has-the-nft-bubble-permanently-burst-meta-isnt-saying-goodbye-to-ar-just-yet-despite-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\/12\/27\/has-the-nft-bubble-permanently-burst-meta-isnt-saying-goodbye-to-ar-just-yet-despite-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=Has the NFT bubble permanently burst? + Meta isn\u2019t saying goodbye to AR just yet, despite losses&url=https:\/\/enterpriseam.com\/egypt\/2022\/12\/27\/has-the-nft-bubble-permanently-burst-meta-isnt-saying-goodbye-to-ar-just-yet-despite-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\/12\/27\/has-the-nft-bubble-permanently-burst-meta-isnt-saying-goodbye-to-ar-just-yet-despite-losses\/&title=Has the NFT bubble permanently burst? + Meta isn\u2019t saying goodbye to AR just yet, despite 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=Has+the+NFT+bubble+permanently+burst%3F+%2B+Meta+isn%E2%80%99t+saying+goodbye+to+AR+just+yet%2C+despite+losses+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F12%2F27%2Fhas-the-nft-bubble-permanently-burst-meta-isnt-saying-goodbye-to-ar-just-yet-despite-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\/12\/27\/has-the-nft-bubble-permanently-burst-meta-isnt-saying-goodbye-to-ar-just-yet-despite-losses\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/794.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"580439\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/27\/has-the-nft-bubble-permanently-burst-meta-isnt-saying-goodbye-to-ar-just-yet-despite-losses\/794-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/794.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"794.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/794.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/794.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-580438\" class=\"content-area-description single-story post-580438 post type-post status-publish format-standard has-post-thumbnail hentry category-for-your-commute tag-cryptocurrency tag-enterprisepm tag-for-your-commute tag-nfts tag-synthetic-food wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>With the NFT market on life support, creators are pivoting to real-world assets to <\/strong><strong>stay afloat: <\/strong>The market for non-fungible tokens (NFTs) has been plummeting since April amid a broader sell-off of crypto made worse by the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ab20176a-b10b-49e2-b6b1-be853d6fcaa8\">collapse of major crypto exchange FTX,<\/a> the <a href=\"https:\/\/www.ft.com\/content\/69da37d1-11de-430f-8a86-ea51bd2ae82b\">Financial Times<\/a> reports. Sales of NFTs fell 87% since March of this year to just USD 17 bn, compared with USD 19 bn spent on NFTs in the first quarter of the year alone. Makers of popular NFT collections are left trying to expand their brands beyond the blockchain universe by using their branded characters and art to sell merchandise and create Disney-inspired entertainment franchises. Some are already reaping the rewards of their pivots, with one brand \u2014 <a href=\"https:\/\/pudgypenguins.com\/\">Pudgy Penguins<\/a> \u2014 seeing the price of its NFTs more than triple to around USD 5.7k in December.<\/p>\n<p><strong>But some think NFTs are beyond rescue: <\/strong>\u201cThe fundamental model of NFTs didn\u2019t work. It was a bubble that has burst and is not going to happen again,\u201d said one analyst. Others claim that with values of NFTs plummeting, the brands are doomed to fail in the real world. \u201cOnce there has been a disconnect between the valuation and the product, they can never become a Disney-type brand,\u201d said the analyst.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Meta is still committed to AR: <\/strong>Despite major losses, <a href=\"https:\/\/about.meta.com\">Meta<\/a>\u2019s Reality Labs division spent close to USD 10 bn last year \u2014 around half their budget \u2014 on augmented reality (AR), <a href=\"https:\/\/www.theverge.com\/2022\/12\/19\/23516964\/meta-half-reality-labs-ar-vr-andrew-bosworth-blog-post\">The Verge<\/a> reports. The company\u2019s goal is to develop slimmer, lighter, and faster AR glasses that are crucial to the Metaverse ecosystem. Last year Reality Labs released the Ray-Ban Stories sunglasses \u2014 equipped with cameras for an on-go Instagrammable experience \u2014 followed by the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/76380530-8e74-449e-bb94-bed9bf445877\">Meta Quest Pro<\/a> headset marketed for designers, architects and other creatives<\/p>\n<p><strong>AR vs VR: <\/strong> AR is a mix of the real world and computer generated content using sensor cameras and GPS to capture the user\u2019s surroundings in-depth and then generate a real life 3D image \u2014 think <a href=\"https:\/\/www.google.com\/glass\/start\/\">Google Glass<\/a>. VR, on the other hand, is a completely immersive environment that is computer generated, like <a href=\"https:\/\/www.meta.com\/quest\/\">Meta Quest<\/a>, <a href=\"https:\/\/www.oculus.com\/experiences\/quest\/\">Oculus Quest<\/a>, and <a href=\"https:\/\/www.hp.com\/us-en\/vr\/reverb-g2-vr-headset.html\">HP Reverb<\/a>. VR is both a software and a hardware that immerse the user in a computer generated virtual world.<\/p>\n<p><strong>But all these tech ambitions aren\u2019t translating to income:<\/strong> Meta lost over USD 9 bn in 2022 and the losses are expected to continue in 2023, Meta disclosed in a <a href=\"https:\/\/s21.q4cdn.com\/399680738\/files\/doc_financials\/2022\/q3\/Meta-09.30.2022-Exhibit-99.1-FINAL.pdf\">statement<\/a>.<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>The rise of synthetic food startups could support ethical eating habits: <\/strong>Startups creating synthetic meat and whey in labs through synthetic biology are helping create crueltyfree food alternatives that could upend the ethics of our eating habits, Virginia Postrel writes for the <a href=\"https:\/\/www.wsj.com\/articles\/synthetic-meat-will-change-the-ethics-of-eating-11671805446?mod=hp_listc_pos2\">Wall Street Journal<\/a>. These startups get their meat from cells grown in vats \u2014 large tanks used for holding liquids \u2014 and can then sell them to restaurants or individuals.<\/p>\n<p><strong>But there are cultural hurdles:<\/strong> Some activist groups are lobbying against these synthetic alternatives, arguing that \u201cnatural foods\u201d coming directly from natural sources are healthier, and <a href=\"https:\/\/co-nxt.com\/blog\/the-rise-of-cellular-agriculture-synthetic-meat-and-lab-coat-farming\/#:~:text=Synthetic%20food%20is%20created%20from,to%20make%20food%20from%20it.\">raising concerns<\/a> around the kinds of synthetic chemicals used to create these foods. While it might take some time for synthetic foods to become mainstream, Postrel says there are signs it will become normalized sooner rather than later. The US Food and Drug Administration, for example, has for the first time approved lab grown chicken meat from San Francisco-based startup <a href=\"https:\/\/upsidefoods.com\/\">Upside Foods<\/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\/cryptocurrency\/\">cryptocurrency<\/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\/nfts\/\">NFTs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/synthetic-food\/\">Synthetic food<\/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=\"580440\" 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=\"580440\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/27\/580440\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-580440\" class=\"content-area-description single-story post-580440 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.palmhillsdevelopments.com\/en-us\/home\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/Palm-Hills-The-Crown-web-dec-22.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=\"580441\" 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=\"580441\">\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\/12\/27\/emily-in-paris-is-back-with-an-explosion-of-color-and-high-jinks\/\">\r\n                            Emily in Paris is back with an explosion of color and high jinks                        <\/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\/12\/27\/emily-in-paris-is-back-with-an-explosion-of-color-and-high-jinks\/\" 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\/12\/27\/emily-in-paris-is-back-with-an-explosion-of-color-and-high-jinks\/')\">\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\/12\/27\/emily-in-paris-is-back-with-an-explosion-of-color-and-high-jinks\/\">\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=Emily in Paris is back with an explosion of color and high jinks&url=https:\/\/enterpriseam.com\/egypt\/2022\/12\/27\/emily-in-paris-is-back-with-an-explosion-of-color-and-high-jinks\/\">\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\/12\/27\/emily-in-paris-is-back-with-an-explosion-of-color-and-high-jinks\/&title=Emily in Paris is back with an explosion of color and high jinks\">\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=Emily+in+Paris+is+back+with+an+explosion+of+color+and+high+jinks+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F12%2F27%2Femily-in-paris-is-back-with-an-explosion-of-color-and-high-jinks%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\/12\/27\/emily-in-paris-is-back-with-an-explosion-of-color-and-high-jinks\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/795.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"580442\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/27\/emily-in-paris-is-back-with-an-explosion-of-color-and-high-jinks\/795-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/795.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"795.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/795.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/795.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-580441\" class=\"content-area-description single-story post-580441 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-06\"><\/a> <strong>Watching <\/strong><strong><a href=\"https:\/\/www.netflix.com\/title\/81037371\">Emily in Paris<\/a><\/strong><strong> has become a Christmas tradition<\/strong>: The popular kitsch Netflix streamer is back for a third season, just in time for Christmas vacation. The show resumes where it left off with Emily juggling her many love interests and at a crossroads career-wise. Fans will enjoy watching Emily struggle to untangle her complicated relationships with Gabriel, Camille, and Aflie as they become more intertwined and complicated. Fashion, comical faux pas, and high drama are all back with a force and we\u2019re grateful for the consistency, if nothing else.<\/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=\"580446\" 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, 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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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markets are doing on 27 December, 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\/12\/27\/what-the-markets-are-doing-on-27-december-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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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\/12\/27\/what-the-markets-are-doing-on-27-december-2022\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-580447\" class=\"content-area-description single-story post-580447 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 fell 0.5% at today\u2019s close<\/strong> on turnover of EGP 1.29 bn (16.8% below the 90-day average). Foreign investors were net sellers. The index is up 21.2% YTD.<\/p>\n<p><strong>In the green: <\/strong>Ibnsina Pharma (+3.0%), Cleopatra Hospitals (+2.8%) and Sidi Kerir Petrochemicals (+2.4%).<\/p>\n<p><strong>In the red: <\/strong>Palm Hills Development (-3.4%), Alexandria Containers and Cargo Handling (-2.8%) and Qalaa Holdings (-2.8%).<\/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=\"580448\" 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=\"580448\">\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\/12\/27\/meet-our-founder-of-the-week-milangos-amr-mostafa\/\">\r\n                            Meet our founder of the week: Milango\u2019s Amr Mostafa                        <\/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\/12\/27\/meet-our-founder-of-the-week-milangos-amr-mostafa\/\" 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 is Amr Mostafa (<a href=\"https:\/\/www.linkedin.com\/in\/amrmostafa11\/\">LinkedIn<\/a>), founder of <a href=\"https:\/\/www.milango.app\/residence.html\">Milango<\/a>.<\/p>\n<p><strong>My name is Amr Mostafa, and I\u2019m 29 years old \u2014 almost 30.<\/strong> I studied Entrepreneurship and Innovation at <a href=\"https:\/\/www.dal.ca\">Dalhousie University<\/a> in Canada. I returned to Egypt and joined the Endeavor team in 2016. I worked there for four years, learning about the startup scene and how to scale a business from the ground up. From there, I joined Milango as founder and CEO in 2020.<\/p>\n<p><strong>I realized it was time to start my own business in 2020.<\/strong> I\u2019ve been monitoring the VC market since 2017, which was worth USD 22 mn at the time. However, by 2020, the total VC capital exceeded USD 100 mn, and startups were raising USD 40 mn and more. This gave me the green light that the market was booming and it was time to start my own business.<\/p>\n<p><strong>What motivated me to penetrate the startup market were my partners <\/strong><strong><a href=\"https:\/\/www.linkedin.com\/in\/ahmad-coucha\/\">Ahmad Coucha<\/a><\/strong><strong>, <\/strong><strong><a href=\"https:\/\/www.linkedin.com\/in\/bassemelhady\">Bassem El Hady<\/a><\/strong><strong>, <\/strong><strong><a href=\"https:\/\/www.linkedin.com\/in\/bahyaboelezz\/\">Bahy Aboelezz<\/a><\/strong><strong>, and <\/strong><strong><a href=\"https:\/\/www.linkedin.com\/in\/ali-a-ibrahim\/\">Ali Ibrahim<\/a><\/strong><strong>.<\/strong> Having the chance to work with such great minds overruled any other path for me \u2014 I was lucky enough to enter the market with great partners, and we successfully kept Milango running during the covid-19 pandemic, and the external crisis that\u2019s been a challenge to every business out there.<\/p>\n<p><strong>Milango is a prop-tech company<\/strong>. We digitize interactions between community managers and community members. We offer a fully customizable and fully modular mobile application for members, and community managers. Our product is divided into two parts, one for the end-user and the other fully controlled by the community manager \u2014 look and feel of the application, the content, invoices and all services provided through it. It\u2019s a digital transformation tool for any manager.<\/p>\n<p><strong>The best part of my job is introducing a new product to the market, and working alongside a very dedicated team who shares the same mindset<\/strong>. Communicating with clients is also a very exciting part of my job, as I see how happy they are with the product, and the impact of it on their work. The worst part of my job is continuously dealing with external problems, such as the covid-19 pandemic, and now the devaluation of the currency, and rising inflation.<\/p>\n<p><strong>Our investors include A15 \u2014 they <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c68b9fcd-6b2e-4070-8dbb-ac06e01d5987\">led our founding round<\/a><\/strong><strong> with a USD six figure investment<\/strong>. We also have a future funding plan, which we will disclose soon.<\/p>\n<p><strong>Milango\u2019s plans for growth include scaling up.<\/strong> Our product is a plug-and-play model, so it\u2019s a matter of finding the right partners. Once we are able to lock the right match, we will be able to scale up quite quickly. Our growth includes a flagship application, with a new line of features to be launched with El Gouna as our first client using the latest update. Our mid-term plan is regional expansion in the Gulf. We\u2019re already seeing interest in the GCC and discussing the potential of adopting our solutions with a number of clients. Regarding our long-term plan, we will hopefully be able to expand beyond the Middle East and we will be studying all potential options. We\u2019re also currently focusing on three verticals \u2014 commercial, residential, and sports \u2014 and perhaps we will expand on that as well.<\/p>\n<p><strong>If I only had enough money to do one thing, I would spend it on hiring more people.<\/strong> At the end of the day, the company\u2019s all about its team. The team builds the product and keeps the customer satisfied. They also come up with new concepts for ways to expand, and generate new revenue streams.<\/p>\n<p><strong>Being founder of a startup is a lonely journey.<\/strong> Although you\u2019re managing a full team and reporting to a board, you are still lonely on the founder level \u2014 meaning that you serve as a solo executive, and there\u2019s no one to share this experience with.<\/p>\n<p><strong>I gave up my social life in the process of starting Milango<\/strong>, and if you ask any founder the same question, they will probably tell you the same thing. However, I don\u2019t think it\u2019s a loss because it\u2019s all about prioritizing your time. Once you have a vision and you want to achieve it, you become very decisive with how you want to spend your time and energy and with whom.<\/p>\n<p><strong>If I couldn\u2019t build the business I have now, I would\u2019ve started another business for sure.<\/strong> I would\u2019ve probably done something related to technology and music. I would also consider the market gaps, and try to address them.<\/p>\n<p><strong>In my freetime, I like to play music.<\/strong> I fire up the modest studio setup I have, and just use it to produce some electronic music for myself, as a form of unwinding and releasing stress.<\/p>\n<p><strong>The last great thing I read is <\/strong><strong><a href=\"https:\/\/www.amazon.com\/Hard-Thing-About-Things-Building\/dp\/0062273205\">The Hard Thing About Hard Things<\/a><\/strong><strong> by Ben Horowitz.<\/strong> It\u2019s quite an accurate book when it comes to business, depicting every situation you might encounter as a founder. I also recommend listening to <a href=\"https:\/\/podcasts.apple.com\/eg\/podcast\/not-investment-advice\/id1563288568\">Not Investment Advice<\/a>. They wrap up what happens every week every Wednesday, and it keeps me well-rounded.<\/p>\n<p><strong>I believe <\/strong><strong><a href=\"https:\/\/www.flapkap.com\">Flapkap<\/a><\/strong><strong> is killing it<\/strong>. It is actually co-founded by one of my partners, Ahmed Coucha, and I believe they are doing a great job. They have great offerings, and it\u2019s a necessity for today\u2019s market \u2014 providing financial services for e-commerce.<\/p>\n<p><strong>If I could give someone starting their own business just one piece of advice, it would be: \u201cIf you need someone to motivate you, then do not start.\u201d<\/strong> The reason I say this is because there will be days where you will completely run out of energy, and if you can\u2019t motivate yourself, then it\u2019s game over for you. There is also another quote that I respect very much: \u201cStartups don\u2019t fail when they run out of money, they fail when the founders run out of energy,\u201d and I strongly believe in this.<\/p>\n<p><strong>I go by the famous quote by Peter Drucker \u201cculture eats strategy for breakfast\u201d<\/strong> <strong>when selecting my team members. <\/strong>Of course I look at their technical capabilities, but assessing whether this caliber would be a good fit for the culture we\u2019re trying to build is essential. Without a culture in place, nothing will get done. They have to fit into the company\u2019s culture and the strategy we are creating.<\/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\/amr-mostafa\/\">Amr Mostafa<\/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\/milango\/\">Milango<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"580450\" 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\/12\/27\/580450\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-580450\" class=\"content-area-description single-story post-580450 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>DECEMBER<\/strong><\/p>\n<p>31 December (Saturday): E-invoicing registration deadline.<\/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>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>2 January (Monday): House back in session.<\/p>\n<p>7 January (Saturday): Coptic Christmas.<\/p>\n<p>24 January-6 February: 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): President El Sisi will visit India as <a href=\"https:\/\/www.mea.gov.in\/press-releases.htm?dtl\/35927\/Chief_Guest_at_Indias_Republic_Day_Celebrations_2023\">\u201cchief guest\u201d at celebrations<\/a>to mark the 74th anniversary of Indian independence.<\/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>2 February (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/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>30 March (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/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>30 April (Sunday): Deadline for self-employed to register for e-invoicing.<\/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>4 May (Thursday): <a href=\"https:\/\/www.ief.org\/events\/8th-ief-igu-ministerial-gas-forum\">IEF-IGU Ministerial Gas Forum<\/a>, Cairo.<\/p>\n<p>18 May (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/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>10 June (Saturday): Thanaweya Amma examinations <a href=\"https:\/\/moe.gov.eg\/what-s-on\/news\/dates-for-the-exams\/\">begin<\/a>.<\/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>22 June (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/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>AUGUST 2023<\/strong><\/p>\n<p>3 August (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p><strong>SEPTEMBER 2023<\/strong><\/p>\n<p>21 September (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/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>NOVEMBER 2023<\/strong><\/p>\n<p>2 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p><strong>DECEMBER 2023<\/strong><\/p>\n<p>21 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p><strong>EVENTS WITH NO SET DATE <\/strong><\/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>End of 2022: Decent Life first phase scheduled for completion.<\/p>\n<p>2023: The inauguration of the Grand Egyptian Museum.<\/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: FRA to introduce <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/677d7076-0142-4ba8-9bee-b1d82926f380\">new rules<\/a> for short selling.<\/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    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