{"id":580640,"date":"2023-01-11T13:27:36","date_gmt":"2023-01-11T13:27:36","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=580640"},"modified":"2025-12-16T12:31:04","modified_gmt":"2025-12-16T12:31:04","slug":"27-70-%e2%9e%a1-32-20-%e2%9e%a1-29-76","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/27-70-%e2%9e%a1-32-20-%e2%9e%a1-29-76\/","title":{"rendered":"27.70 \u27a1 32.20 \u27a1 29.76"},"content":{"rendered":"<section id=\"580642\" 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=\"580642\">\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\/2023\/01\/11\/this-evening-did-we-find-a-market-clearing-egp-usd-rate-why-theres-room-for-some-optimism\/\">\r\n                            THIS EVENING: Did we find a market-clearing EGP-USD rate? + Why there\u2019s room for some optimism                        <\/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\/2023\/01\/11\/this-evening-did-we-find-a-market-clearing-egp-usd-rate-why-theres-room-for-some-optimism\/\" 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\/2023\/01\/11\/this-evening-did-we-find-a-market-clearing-egp-usd-rate-why-theres-room-for-some-optimism\/')\">\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\/2023\/01\/11\/this-evening-did-we-find-a-market-clearing-egp-usd-rate-why-theres-room-for-some-optimism\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=THIS EVENING: Did we find a market-clearing EGP-USD rate? + Why there\u2019s room for some optimism&url=https:\/\/enterpriseam.com\/egypt\/2023\/01\/11\/this-evening-did-we-find-a-market-clearing-egp-usd-rate-why-theres-room-for-some-optimism\/\">\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\/2023\/01\/11\/this-evening-did-we-find-a-market-clearing-egp-usd-rate-why-theres-room-for-some-optimism\/&title=THIS EVENING: Did we find a market-clearing EGP-USD rate? + Why there\u2019s room for some optimism\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=THIS+EVENING%3A+Did+we+find+a+market-clearing+EGP-USD+rate%3F+%2B+Why+there%E2%80%99s+room+for+some+optimism+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F01%2F11%2Fthis-evening-did-we-find-a-market-clearing-egp-usd-rate-why-theres-room-for-some-optimism%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\/2023\/01\/11\/this-evening-did-we-find-a-market-clearing-egp-usd-rate-why-theres-room-for-some-optimism\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/637.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"580643\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/11\/this-evening-did-we-find-a-market-clearing-egp-usd-rate-why-theres-room-for-some-optimism\/637-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/637.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"637.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/637.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/637.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-580642\" class=\"content-area-description single-story post-580642 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-tonight tag-egp-watch tag-enterprisepm tag-exchange-rate 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, friends, and welcome to a roller-coaster of a day. <\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>THE BIG NEWS THIS AFTERNOON- There are indications that we found <\/strong><strong>this afternoon a market-clearing rate for the USD. <\/strong><\/p>\n<p><strong>And the magic number was \u2026 EGP 32<\/strong><strong>.2<\/strong><strong>0 \/ USD. <\/strong>Today\u2019s interbank auction saw the EGP fall in steady increments from an opening rate of 27.70 to the greenback to 32.20 \/ USD at around 1 pm CLT. In less than an hour, the EGP rallied back \u2014 to 31.85, then 31.75, 30.85, 30.05\u2026<\/p>\n<p><strong>The EGP closed the day <\/strong><strong>at <\/strong><strong>29.76 <\/strong><strong>to th<\/strong><strong>e greenback<\/strong>, according to the Central Bank of Egypt\u2019s website. That means the EGP had lost as much as 16.4% at its peak before clawing back losses to close down 7.7% for the day.<\/p>\n<p><strong>Where will it settle? We\u2019re probably in the right ballpark.<\/strong><\/p>\n<ul>\n<li><strong>HSBC<\/strong> said in a research note out earlier this week that it sees it in the <strong>30-35 band<\/strong>, with 32.50 \u201cas a tentative midpoint\u201d (up from its previous midpoint of 26);<\/li>\n<li><strong>Goldman Sachs thinks we\u2019re looking at EGP 33-35<\/strong> to the greenback, as we reported this morning;<\/li>\n<li><strong>BNP Paribas <\/strong>said in a note to clients this afternoon that it is \u201creiterating its view\u201d that <strong>the EGP will hit 37<\/strong> in 1Q 2023.<\/li>\n<\/ul>\n<p><strong>Why is there room for a bit of optimism? <\/strong>The fall from 32.20 to the greenback came as trading quickly accelerated in the interbank market \u2014 the key word here is \u201ctrading.\u201d The end of the EGP\u2019s slide against the USD suggests that some folks holding USD were willing to start selling them for local currency starting at 32.20. <strong>This implies that a measure of liquidity may have been restored to the FX market. <\/strong><\/p>\n<p><strong>Where did the money come from? <\/strong>Bankers have been mum on the subject so far today. Pundits will be looking for signs of how much of the liquidity came from savers selling USD holdings as they tried to time the top of the market (and flip over into high-yield instruments at the National Bank of Egypt, Banque Misr, and CIB) and how much was injected by state banks.<\/p>\n<p><strong>SMART POLICY? <\/strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0a0bcb65-383b-4688-8e3e-61882509e3bc\">As we noted on Monday<\/a>, an unconfirmed report suggested that the NBE and Banque Misr had lined up some USD 705 mn in hard currency facilities from global lenders including African Development Bank, Mashreq Bank, and other lends from the GCC and Asia.<\/p>\n<p><strong>How much changed hands today? <\/strong>The Central Bank of Egypt does not release liquidity figures that would give us a sense of how many greenbacks were bought and sold today. We\u2019re hoping that top banking execs will hit the talk show circuit tonight to give us all more color. And the big things to look for will be January figures for both reserves and remittances.<\/p>\n<p><strong>What should we look for tomorrow? <\/strong>Some healthy volatility in the rate, for certain.<\/p>\n<p><strong>Does a market-clearing rate mean that 29.70 is the \u201cnew value\u201d of the USD here in Omm El Donia? <\/strong>No. The central bank has promised the IMF that it has moved to a \u201cdurably flexible\u201d exchange rate \u2014 a commitment the IMF highlighted at a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2f25427b-43e1-4104-9b7a-2aea214242b2\">press conference earlier this week<\/a>. That means we\u2019ve committed to seeing the EGP move in response to market forces. <strong>There\u2019s a chance (<\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0608a821-bc0e-4919-b623-71600dd17ef7\">as Goldman Sachs has noted<\/a><\/strong><strong>) that we\u2019ve o<\/strong><strong>vershot<\/strong><strong> the fair value of the EGP.<\/strong> And in the absence of new inflows of hot money, foreign investment in public equities, FDI, or exports? The EGP could head back the other way.<\/p>\n<p><strong>In other words: Gone are the days when there was a \u201crate\u201d for the USD \/ EGP exchange rate. <\/strong>In a flexible regime, the EGP is worth whatever it is worth on the day a transaction closes. That\u2019s going to take all of us some getting used to \u2014 it\u2019s also the hallmark of a real economy.<\/p>\n<hr class=\"grey-line\">\n<p><strong>THE BIG STORY ABROAD<\/strong><\/p>\n<p><strong>Leading the conversation in the international business press this afternoon:<\/strong> A system outage from the US\u2019 Federal Aviation Administration, which affected the administration\u2019s ability to communicate safety information to pilots, led all domestic flights in the US to be temporarily grounded. The outage has affected at least 1,200 flights. The story is on the front pages of <a href=\"https:\/\/www.cnbc.com\/2023\/01\/11\/faa-orders-airlines-to-pause-departures-until-9-am-et-after-system-outage.html\">CNBC<\/a>, <a href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/us-faa-says-flight-personnel-alert-system-not-processing-updates-after-outage-2023-01-11\/\">Reuters<\/a>, the <a href=\"https:\/\/www.ft.com\/content\/e65ee681-f242-45f1-b1ab-b5f1b42d8a12\">Financial Times<\/a>, and the <a href=\"https:\/\/www.wsj.com\/articles\/faa-suffers-glitch-to-crew-alert-system-potentially-affecting-flights-in-u-s-11673437407?mod=hp_lead_pos1\">Wall Street Journal<\/a><\/p>\n<hr class=\"grey-line\">\n<p><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM<\/strong>:<\/p>\n<ul>\n<li><strong>All the details on the give and take of our USD 3 bn IMF loan package:<\/strong> The IMF yesterday <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2f25427b-43e1-4104-9b7a-2aea214242b2\">published a package of documents<\/a> on our USD 3 bn loan agreement, shedding light on the disbursal timeline as well as separate external financing it expects us to receive on the back of the program \u2014 and the long laundry list of policy changes that we\u2019ve agreed to in return for the helping hand.<\/li>\n<li><strong>Inflation hits new high on weaker EGP:<\/strong> Figures released yesterday by state statistics agency Capmas showed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d95fe467-2198-4745-b6cc-0c6ad8ffbf5e\">annual urban inflation jumped<\/a> to 21.3% in December, up from 18.7% the month before, driven by surging food costs.<\/li>\n<li><strong>ADQ-owned Abu Dhabi Ports Company <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4b42547f-b6db-49db-b84c-fdc284c61c8c\">is in talks<\/a><\/strong><strong> with the Madbouly government to take over the development and management of the Suez Port<\/strong> under a usufruct 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 national dialogue will kick off on <\/strong><strong>Saturday, 14 January.<\/strong><\/p>\n<p><strong>Davos 2023:<\/strong> The usual suspects will descend on the Swiss town for the annual meetings of the <a href=\"https:\/\/www.weforum.org\/events\/world-economic-forum-annual-meeting-2023\">World Economic Forum<\/a> on 16-20 January.<\/p>\n<p><strong>Egyptian expats have until 14 March to import cars for cheap: <\/strong>The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/82bee1e7-27a9-4e86-bf75-057a2812bbdb\">expat car import<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/82bee1e7-27a9-4e86-bf75-057a2812bbdb\">scheme<\/a> will conclude on Tuesday, 14 March with no wiggle room for extensions or exemptions, Finance Minister Mohamed Maait said during a presser yesterday, according to a Finance Ministry <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/82bee1e7-27a9-4e86-bf75-057a2812bbdb\">statement<\/a>. The deadline was initially set for 15 February but was pushed after the ministry introduced <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0b9054bf-ce9f-459a-8675-db68f4421421\">amendments<\/a> to make it easier for Egyptians abroad to take advantage of the scheme. Some 34k accounts have been created on the system for the scheme, though it\u2019s not clear how many of those have submitted applications so far (the number of applications <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4150d160-a6be-453d-a856-51b1e98762b1\">stood at just 4k<\/a> toward the end of December.)<\/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>We\u2019re in for a mostly sunny day tomorrow, with temperatures expected to hit 19\u00b0C during the day before falling to a low of 10\u00b0C at night, our favorite weather app tells us.<\/p>\n<p><strong>ENTERPRISE IS LOOKING FOR SMART, TALENTED PEOPLE of all backgrounds to help<\/strong><strong> us build some very cool new things.<\/strong> <a href=\"https:\/\/enterprise.press\/\">Enterprise<\/a> \u2014 the essential daily read on what\u2019s happening in business, finance, economics and policy in Egypt and the wider region \u2014 is looking for writers, reporters, and editors to help us build new publications. We're looking for gifted story-tellers from all walks of life and across all professions, as long as they show a keen interest in learning to write about the stories, topics, businesses, and ideas moving markets. Egyptian and foreign nationals alike are welcome to apply.<\/p>\n<p><strong>NEVER WORKED IN A NEWSROOM BEFORE?<\/strong> We have the Enterprise Business Writing Development Program. The four-month program will see full-time, paid participants take part in workshops and lectures from veteran business journalists, while also working on and filing stories that will run in our publications. <strong>Those who successfully complete the program will then be offered full-time positions on staff.<\/strong><\/p>\n<p><strong>During the program you will learn:<\/strong><\/p>\n<ul>\n<li><strong>The key news stories and trends shaping business<\/strong> and the economy in Egypt and the region, across various sectors;<\/li>\n<li><strong>Business and finance for non-finance people:<\/strong> Whether it's industry jargon, key concepts, or simply how to read a an income statement;<\/li>\n<li><strong>How to construct an Enterprise story:<\/strong> From idea formulation down to the structure, style, and tone of writing;<\/li>\n<li><strong>The ins and outs of a newsroom, <\/strong>including how to develop sources that will give you the key insights needed to tell a complete story;<\/li>\n<li><strong>How to communicate these stories<\/strong> with the confidence and language of an insider.<\/li>\n<\/ul>\n<p><strong>Apply directly to <\/strong><strong><a href=\"mailto:jobs@enterprisemea.com\">jobs@enterprisemea.com<\/a><\/strong><strong> and mention \u201cwriting development program\u201d in your subject line.<\/strong><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egp-watch\/\">EGP watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/exchange-rate\/\">exchange rate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-tonight\/\">WHAT WE\u2019RE TRACKING TONIGHT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"580644\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"580644\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/11\/580644\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-580644\" class=\"content-area-description single-story post-580644 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/www.mashreqbank.com\/en\/egypt\/personal\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/1600-x-768.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"580645\" 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=\"580645\">\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\/2023\/01\/11\/qatar-wants-to-buy-more-football-clubs-some-positive-climate-news-for-a-change\/\">\r\n                            Qatar wants to buy more football clubs + Some positive climate news, for a change                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/11\/qatar-wants-to-buy-more-football-clubs-some-positive-climate-news-for-a-change\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/638.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"580646\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/11\/qatar-wants-to-buy-more-football-clubs-some-positive-climate-news-for-a-change\/638-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/638.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"638.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/638.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/638.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-580645\" class=\"content-area-description single-story post-580645 post type-post status-publish format-standard has-post-thumbnail hentry category-for-your-commute tag-climate-change tag-enterprisepm tag-for-your-commute tag-qatar-investment tag-semiconductors tag-sports 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>With World Cup revenues in its pockets, Qatar has its eyes on buying more football<\/strong><strong> clubs:<\/strong> Qatar Sports Investments (<a href=\"https:\/\/www.qsi.com.qa\">QSI<\/a>) is reportedly looking to buy \u201cat least\u201d one football club in the English Premier League and is in conversations with top clubs including Manchester United, Liverpool, and Tottenham Hotspur, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-01-09\/man-united-liverpool-said-to-be-buyout-targets-for-qatar-fund?sref=mmeFTDW1&leadSource=uverify wall\">Bloomberg<\/a> reports, citing sources close to the matter. Spokespeople from the three clubs either declined to comment on or denied the talks. <a href=\"https:\/\/www.manutd.com\/en\/news\/detail\/man-utd-announces-process-to-explore-strategic-alternatives-to-enhance-club-growth\">Manchester United<\/a> and <a href=\"https:\/\/theathletic.com\/3770928\/2022\/11\/07\/fsg-liverpool-for-sale\/\">Liverpool<\/a> have each said recently that they are willing to look at potential stake or complete sales of the club. Tottenham has not publicly expressed interest in a potential sale, although <a href=\"https:\/\/theathletic.com\/3108037\/2022\/02\/04\/enic-and-the-long-term-future-of-tottenham-hotspur\/\">the Athletic<\/a> recently quoted a source it says has knowledge of the matter as saying the English National Investment Company, which owns the club, has been \u201cbuilding [Tottenham] to sell it\u201d at the right price.<\/p>\n<p><strong>It wouldn\u2019t be Qatar\u2019s (or the GCC\u2019s) first foray into the world of European football:<\/strong> Qatar currently owns <a href=\"https:\/\/en.psg.fr\/club\/nasser-al-khelaifi\">Paris Saint-Germain<\/a> and owns 21.67% stake in <a href=\"https:\/\/www.sportbusiness.com\/news\/qatar-sports-investments-acquires-stake-in-portugals-braga\/\">Portugal\u2019s SC Braga<\/a>. Saudi Arabia and the UAE have also entered the space, with its sovereign wealth fund, the Public Investment Fund, purchasing Newcastle United, while <a href=\"https:\/\/www.cityfootballgroup.com\">City Football Group<\/a> \u2014 co-founded by Mansour bin Zayed Al Nahyan and Khaldoon Al Mubarak \u2014 owns Manchester City.<\/p>\n<hr class=\"grey-line\">\n<p><strong>A return to full strength for the ozone layer could be seen within decades<\/strong>, as efforts to eliminate the use of destructive chlorofluorocarbons are helping the upper atmosphere holes on their way to recovery, <a href=\"https:\/\/www.unep.org\/news-and-stories\/press-release\/ozone-layer-recovery-track-helping-avoid-global-warming-05degc\">the UN<\/a> said on Monday, citing scientists. Despite some rogue production of the chemicals, if international policies adopted under the Montreal Protocol remain in place, the ozone is on track to fully recover to 1980 status by 2066 \u2014 which could help reduce global warming by 0.5\u00b0C. <strong>The story got ink in several international outlets: <\/strong><a href=\"https:\/\/www.nytimes.com\/2023\/01\/09\/climate\/ozone-hole-restoration-montreal-protocol.html?smid=nytcore-ios-share&referringSource=articleShare\">New York Times<\/a> | <a href=\"https:\/\/www.dw.com\/en\/ozone-layer-recovers-limiting-global-warming-by-05c\/a-64308435\">Deutsche Welle<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/health\/un-says-ozone-layer-slowly-healing-hole-to-mend-by-2066\/2023\/01\/09\/b6b3d6ac-902e-11ed-90f8-53661ac5d9b9_story.html\">Washington Post<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/earths-ozone-layer-recovering-as-damaging-airborne-chemicals-decline-11673276426\">Wall Street Journal<\/a> | <a href=\"https:\/\/www.theguardian.com\/environment\/2023\/jan\/09\/ozone-layer-healed-within-decades-un-report\">Guardian<\/a>.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Covid trips up China in the semiconductor race to power:<\/strong> The world\u2019s second largest economy is pausing its costly investment-led and subsidy-heavy approach to building a chip industry that rivals the US as it grapples with the financial pressure of renewed covid-19 outbreaks, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-01-04\/battered-by-covid-china-hits-pause-on-giant-chip-spending\">Bloomberg<\/a> reports, citing people familiar with the matter. Beijing\u2019s top officials are considering alternative ways to support local chip manufacturers in lieu of the subsidies that have encouraged corruption and generated weak outcomes, looking into options like reducing the prices of semiconductor materials or redirecting funds from other areas to the chip industry.<\/p>\n<p><strong>This is a stark change of plans: <\/strong>In December, China was cooking up a USD 143 bn support package, composed primarily of subsidies and tax credits aimed at encouraging semiconductor production and research, with plans to roll out the program by 1Q 2023, Reuters <a href=\"https:\/\/www.reuters.com\/technology\/china-plans-over-143-bln-push-boost-domestic-chips-compete-with-us-sources-2022-12-13\/\">reported<\/a>.<\/p>\n<p><strong>REMEMBER- The US is a top competitor<\/strong> and has been imposing several policies and restrictions (<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c0c0af02-27d3-46ac-bf0f-1d33c7640e5d\">here<\/a>, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e9c706f3-256a-49e2-b2b8-ef95d716e63d\">here<\/a>, and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/38d4e96a-07ea-4187-881f-bd2fa4b98ab6\">here<\/a>) on the exports of semiconductors and chip-making materials to China in a bid to retain its technological supremacy in the semiconductor war. The chip industry is a geopolitical hot button, playing a critical role in both military systems and the data-processing capacities that fuel our modern global economic system.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate-change\/\">climate change<\/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\/qatar-investment\/\">Qatar investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/semiconductors\/\">semiconductors<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"580647\" 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=\"580647\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/11\/580647\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-580647\" class=\"content-area-description single-story post-580647 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 decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/Palm-Hills-The-Crown-web-dec-22.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"580648\" 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=\"580648\">\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\/2023\/01\/11\/all-quiet-on-the-western-front-a-netflix-adaptation-of-the-anti-war-classic-novel\/\">\r\n                            All Quiet on the Western Front: A Netflix adaptation of the anti-war classic novel                        <\/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\/2023\/01\/11\/all-quiet-on-the-western-front-a-netflix-adaptation-of-the-anti-war-classic-novel\/\" 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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his uniform is returned to Germany and is washed and repaired to be reused. In a later scene, actor Felix Kammerer in his first screen role plays Paul, a German teenage boy who enthusiastically enlists with his friends along with his friends in 1917 towards the end World War I. The boys clutch their new uniforms eager to march into Paris, the exhilaration cut short when Paul discovers a name tag left in the collar of his uniform: Heinrich Gerber. The boys are in for a rude awakening when they arrive in Paris to discover chaos and gore the harsh realities of war.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-recommends\/\">Enterprise Recommends<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/on-the-tube-tonight\/\">On The Tube Tonight<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"580653\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      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markets are doing on 11 January, 2023                        <\/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\/2023\/01\/11\/what-the-markets-are-doing-on-11-january-2023\/\" 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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Local investors were net sellers. The index is up 6.4% YTD.<\/p>\n<p><strong>In the green:<\/strong> Orascom Construction (+8.2%), Cleopatra Hospitals (+7.4%) and e-Finance (+7.3%).<\/p>\n<p><strong>In the red: <\/strong>CIB (-3.9%), Palm Hills Development (-3.5%) and Alexandria Containers and Cargo Handling (-2.6%).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/go-with-the-flow\/\">Go with the Flow<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"580655\" 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=\"580655\">\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\">Sports<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/11\/end-of-a-sporting-era-as-several-goats-retired-last-year\/\">\r\n                            End of a sporting era as several GOATs retired last year                        <\/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\/2023\/01\/11\/end-of-a-sporting-era-as-several-goats-retired-last-year\/\" 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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And <a href=\"https:\/\/www.marca.com\/en\/nfl\/tampa-bay-buccaneers\/2022\/12\/17\/639d9d72268e3e51038b4625.html#:~:text=It became an even bigger,for the Tampa Bay Buccaneers.\">Tom Brady<\/a> left the NFL early in the year \u2014 only to return a few months later. And Argentinian star <a href=\"https:\/\/stylecaster.com\/lionel-messi-retire\/\">Lionel Messi<\/a> stirred rumors of retiring from international football after leading Argentina to a legendary World Cup victory at the end of last year, but signaled he will retire before the next World Cup.<\/p>\n<p><strong>Athletes that earn the GOAT title are like walking gods to their fans.<\/strong> Their posters adorn walls and their names alone can sell out matches. As audiences, we often mark our lives by their sporting triumphs and losses and feel genuine sadness when they hang up their boots\/rackets\/bats.<\/p>\n<p><strong>GOATs seemed to jump on the Great Resignation trend in 2022: <\/strong>Much fuss was made over an apparent mass exit from the workforce in 2021, as some workers reevaluated their priorities post-pandemic. Close to 47 mn individuals are believed to have voluntarily left their jobs in the US in 2021, according to the <a href=\"https:\/\/www.bls.gov\/opub\/mlr\/2022\/article\/the-great-resignation-in-perspective.htm\">US Bureau of Labor Statistics<\/a>. Could it be that following periods of lockdown and time away from their sports and the limelight, athletes also found the desire to follow new paths in their lives, away from the field? Did they postpone their retirements in the pandemic years so they could go out on a high note when the sporting world reopened? That, or it\u2019s just pure coincidence.<\/p>\n<p><strong>Sport isn\u2019t known for its lengthy careers:<\/strong> The typical retirement age for a professional athlete is between 28 and 32, writes Gary Brickley, senior sports lecturer at the University of Brighton, in <a href=\"https:\/\/theconversation.com\/serena-williams-why-more-athletes-are-retiring-later-189097#:~:text=There are many reasons an,once considered their \u201cprime\u201d.\">The Conversation<\/a>. This is the age when injuries and illness tend to set in, fitness levels decline, or family takes precedence.<\/p>\n<p><strong>And yet many of the latest wave of departing GOATs continued to compete (and win) well <\/strong><strong>beyond what was once considered their \u201cprime.\u201d <\/strong>Federer and Williams both called time on their grand-slam careers aged 41, while Vettel, Messi, and White are all in their mid-30s. NFL star Brady is a GOAT Snr, retiring (and then returning to play) at the age of 45. Among the more notable older GOATs is American surfer Kelly Slater, who\u2019s still hanging ten at the age of 50. So what\u2019s this generation of GOATs\u2019 secret to staying at the top of their game for longer?<\/p>\n<p><strong>#1- GOATs these days are far from the rockstar athletes of the past.<\/strong> The wild child persona athletes of the past may have cultivated is no longer associated with GOATs. British F1 champion <a href=\"https:\/\/www.formula1.com\/en\/drivers\/hall-of-fame\/James_Hunt.html\">James Hunt<\/a> drank heavily, smoked, and partied \u2014 often just before getting into his racecar. He died from a heart attack at the age of 45. Less than a decade later, 38-year-old seven-time F1 Championship champion <a href=\"https:\/\/www.sportskeeda.com\/f1\/news-here-s-puts-lewis-hamilton-sleep-night\">Lewis Hamilton<\/a> follows a strictly plant-based diet, does daily pilates, and turns his phone off by 6pm.<\/p>\n<p><strong>#2- It\u2019s a tech thing. <\/strong>\u201cToday\u2019s athletes have faster skis, more aerodynamic bikes, lighter shoes, high-performance swimsuits and so much more,\u201d says <a href=\"https:\/\/blog.ted.com\/whats-making-athletes-faster-better-stronger-david-epstein-at-ted2014\/\">David Epstein<\/a>, author of The Sports Gene. He compares Olympic runner Jesse Owens, who set the 100m world record in 1936, to Usain Bolt, who beat Owens\u2019 record by 14 feet in 2009. Tech advances meant that Bolt was running on carpet specifically designed to help the sprinters to go as fast as possible. Owens, on the other hand, \u201cran on cinders and had to dig a hole with a trowel\u201d for starting blocks. Take away the tech and Bolt and Owens would have been within a single stride of each other, says Epstein.<\/p>\n<p><strong>#3- Approaches to training have changed. <\/strong>Athletes once focused on high-intensity training designed to push them to their limits in the most time-efficient manner. Today, the emphasis is on strength and endurance, targeting specific weaknesses in moderate-intensity sessions, writes sports academic Brickley. Better recovery techniques, nutrition, and mental health care also help maintain performance and peak health.<\/p>\n<p><strong>This is all good news for the GOATs:<\/strong> Innovation and changing attitudes have allowed some of sport\u2019s all-time greats to continue their careers well into their later years, becoming revered veterans with a wealth of knowledge and experience to show for it. To those who hung up their caps in 2022, we salute you for pushing the limits of sporting achievement \u2014 and entertaining and inspiring us in the process.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/great-resignation\/\">Great Resignation<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"580657\" 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\/2023\/01\/11\/580657\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-580657\" class=\"content-area-description single-story post-580657 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>JANUARY<\/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>January: Global Auto to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/feba3115-5fdb-4cdf-bf31-aa0284dd48b0\">restart BMW assembly<\/a> in Egypt.<\/p>\n<p>15 January (Sunday): Tourism Minister Ahmed Issa to speak at AmCham monthly luncheon.<\/p>\n<p>16-20 January (Monday-Friday): <a href=\"https:\/\/www.weforum.org\/events\/\">Davos 2023<\/a>.<\/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 (TBC).<\/p>\n<p>30 January-1 February (Monday-Wednesday): CI Capital\u2019s Annual MENA Investor Conference 2023, Cairo, Egypt.<\/p>\n<p><strong>FEBRUARY<\/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 <\/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 <\/strong><\/p>\n<p>1 April (Saturday): Deadline for banks to establish sustainability units.<\/p>\n<p>10-16 April (Monday-Sunday): IMF \/ World Bank Spring Meetings, Marrakesh, Morocco.<\/p>\n<p>16 April (Sunday): Coptic Easter<\/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>30 April (Sunday): End of Mediterranean, Nile Delta oil + gas exploration tender.<\/p>\n<p>Late April \u2013 15 May: 1Q2023 earnings season.<\/p>\n<p><strong>MAY <\/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 new Board of Governors,from 22-26 May 2023.\">will host<\/a> the African Development Bank (AfDB) annual meetings in Sharm El Sheikh.<\/p>\n<p><strong>JUNE <\/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 <\/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 <\/strong><\/p>\n<p>3 August (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p><strong>SEPTEMBER <\/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 <\/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 <\/strong><\/p>\n<p>2 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p><strong>DECEMBER <\/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>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: Egypt + Qatar to launch joint business forum.<\/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\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":580641,"template":"","categories":[],"tags":[],"class_list":["post-580640","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"2bbfe06e-1a5e-4eba-9645-5070884bbd0a","teaser":"","photo_url":"https:\/\/ent.news\/2023\/1\/636.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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