{"id":580747,"date":"2023-01-17T13:36:52","date_gmt":"2023-01-17T13:36:52","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=580747"},"modified":"2025-12-16T12:33:39","modified_gmt":"2025-12-16T12:33:39","slug":"worse-before-it-gets-better","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/worse-before-it-gets-better\/","title":{"rendered":"Worse before it gets better"},"content":{"rendered":"<section id=\"580749\" 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=\"580749\">\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\/17\/this-evening-its-all-about-davos-out-there\/\">\r\n                            THIS EVENING: It\u2019s all about Davos out there                        <\/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\/17\/this-evening-its-all-about-davos-out-there\/\" 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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Maybe we all got too used to the long weekends?<\/p>\n<p><strong>DRIVING THE CONVERSATION TODAY-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>It\u2019s day two of Davos:<\/strong> The five-day World Economic Forum at Davos \u2014 under the theme \u201cCooperation in a Fragmented World\u201d \u2014 is on day two, with sessions focused on technology, climate, and investments and it will continue on till 7pm CLT. Some of the sessions coming up this afternoon:<\/p>\n<ul>\n<li><a href=\"https:\/\/www.weforum.org\/events\/world-economic-forum-annual-meeting-2023\/sessions\/a-conversation-with-sanna-marin-prime-minister-of-finland\">A conversation with Finnish Prime Minister Sanna Marin at 4pm<\/a>.<\/li>\n<li><a href=\"https:\/\/www.weforum.org\/events\/world-economic-forum-annual-meeting-2023\/sessions\/special-address-by-pedro-sanchez-prime-minister-of-spain-fc3b0c2a00\">An address by Spanish Prime Minister Pedro Sanchez at 5pm.<\/a><\/li>\n<li><a href=\"https:\/\/www.weforum.org\/events\/world-economic-forum-annual-meeting-2023\/sessions\/infrastructure-for-a-clean-energy-economy\">A session titled Infrastructure for a Clean Energy Economy<\/a>, kicking off at 5:15pm.<\/li>\n<\/ul>\n<p><strong>Things will get worse before they get better: <\/strong>The IMF is projecting that \u201c2024 will be a year in which we finally see the world economy on an upside,\u201d IMF Managing DIrector Kristalina Georgieva told <a href=\"https:\/\/www.cnbc.com\/2023\/01\/17\/imf-chief-growth-will-bottom-out-in-2023-and-bounce-back-next-year.html\">CNBC<\/a> on the sidelines of Davos earlier today. Growth will continue to slow throughout 2023 and bottom out by the end of the year before we move on to better things in 2024.<\/p>\n<p><strong>But most agree they will get better:<\/strong> \u201cWe are optimistic, but we are cautiously optimistic\u201d about global growth, OPEC Secretary General Haitham Al Ghais said in an interview with <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-01-17\/opec-chief-is-cautiously-optimistic-about-global-economy?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a>, attributing his optimism to China\u2019s resurrection after years of covid lockdowns.\u201cThe economy and the potential slowdown is still the biggest concern on everybody\u2019s mind \u2026I see green somewhere out there \u2014 maybe not now but in a couple of months.\u201d<\/p>\n<p><strong>Egypt is among 45 partners pledging to help unlock the USD 3 tn of financing needed for the world to reach net zero by 2050 <\/strong>through the Giving to Amplify Earth Action initiative<strong>, <\/strong>the WEF said in a <a href=\"https:\/\/www.weforum.org\/press\/2023\/01\/new-initiative-to-help-unlock-3-trillion-needed-a-year-for-climate-and-nature\">statement<\/a>. \u201cEgypt will work closely with the World Economic Forum to build effective and impactful philanthropic public private partnerships, and promote the role of the prominent \u2018P\u2019 \u2013 Philanthropy,\u201d International Cooperation Minister Rania Al Mashat said.<\/p>\n<p><strong>Al Mashat took the stage: <\/strong>International Cooperation Minister Rania Al Mashat joined US climate chief John Kerry, UN climate finance envoy Mark Carney, WEF President Borge Brende and other climate experts to talk all things climate funding, in a session titled Philanthropy: A Catalyst for Protecting Our Planet (<a href=\"https:\/\/www.weforum.org\/events\/world-economic-forum-annual-meeting-2023\/sessions\/philanthropy-a-catalyst-for-protecting-our-planet\">watch, runtime: 47:30<\/a>). Al Mashat stressed on the importance of adaptation and resilience financing, hitting on the role multilateral development banks and philanthropy have to play in providing that money.<\/p>\n<p><strong>There\u2019s more to come from Davos: <\/strong>Al Mashat will return to the Davos stage tomorrow and on Friday for sessions focused on the <a href=\"https:\/\/www.weforum.org\/events\/world-economic-forum-annual-meeting-2023\/sessions\/rewiring-the-globe-for-resilience\">green transition<\/a> and <a href=\"https:\/\/www.weforum.org\/events\/world-economic-forum-annual-meeting-2023\/sessions\/how-to-turbocharge-development-finance\">development finance<\/a>, while Planning Minister Hala El Said will join her Saudi counterpart and the UAE\u2019s economy minister in a session titled <a href=\"https:\/\/www.weforum.org\/events\/world-economic-forum-annual-meeting-2023\/sessions\/between-liquidity-and-fragility-reforming-in-mena\">Between Liquidity and Fragility: Reforming in MENA<\/a> on Thursday.<\/p>\n<p><strong>HAPPENING TODAY (NOT YESTERDAY)- <\/strong><\/p>\n<p><strong>Cairo is hosting an Egyptian-Jordanian-Palestinian summit:<\/strong> Palestinian President Mahmoud Abbas and Jordan\u2019s King Abdullah II <a href=\"https:\/\/www.wafa.ps\/Pages\/Details\/62961\u00a04\">are in Cairo<\/a> today for talks with President Abdel Fattah El Sisi to discuss recent developments in Israel and the occupied territories. The meeting comes days following a series of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/000be63b-533f-4de8-b987-ab4f7177ca6e\">provocations<\/a> by Israel\u2019s new far-right government, which contains ministers that have advocated deporting Arabs and annexing the country\u2019s illegal settlements in the West Bank.<\/p>\n<p><strong>CORRECTION: <\/strong>In yesterday\u2019s edition of EnterprisePM, we incorrectly wrote that the talks took place in Cairo yesterday. The story has since been updated on our website.<\/p>\n<hr class=\"grey-line\">\n<p><strong>** CATCH UP QUICK on the top stories from today\u2019s EnterpriseAM:<\/strong><\/p>\n<ul>\n<li><strong>Let it flow:<\/strong> Foreign investors have <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/82413afa-8ce0-4f25-a595-8a9db3523771\">invested some USD 925 mn<\/a> into our local foreign exchange market in the three days since the central bank <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/63a7ec65-1966-4d8f-9b11-181cbd0f12b6\">let the EGP further depreciate<\/a> against the greenback.<\/li>\n<li><strong>Gulf investors in talks to acquire assets from HCCD:<\/strong> The parent company of Heliopolis Housing <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4c727a04-22a0-4cb2-84ab-fab3dc99b1d1\">is in talks with undisclosed Gulf investors<\/a> to sell land and other assets, two sources familiar with the discussions told Bloomberg Asharq.<\/li>\n<li><strong>Cheap bread for all:<\/strong> The Supply Ministry will <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7dadaec6-88a3-4dcb-99f9-2501f79445f8\">launch a new scheme<\/a> to allow people not covered by its ration card system to buy discounted bread, Minister Ali El Moselhy said yesterday.<\/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>It\u2019s book fair season:<\/strong> The Cairo International Book Fair will open its doors to the public at the International Exhibition Center in New Cairo on 26 January, according to <a href=\"https:\/\/bit.ly\/3kkL3eK\">Youm7<\/a>. The event, which runs until 6 February, is expected to draw mns of visitors during the two weeks.<\/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>The mercury is set to reach 21\u00b0C during the day tomorrow in the capital city before dipping to 10\u00b0C at night, our favorite weather app tells us.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/rania-al-mashat\/\">Rania Al Mashat<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-economic-forum\/\">World Economic Forum<\/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=\"580751\" 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=\"580751\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/17\/580751\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-580751\" class=\"content-area-description single-story post-580751 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=\"580752\" 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=\"580752\">\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\/17\/world-trade-is-getting-increasingly-deregulated-and-disorganized-a-shifting-world-of-work-needs-businesses-to-adapt-quickly\/\">\r\n                            World trade is getting increasingly deregulated (and disorganized) + A shifting world of work needs businesses to adapt quickly                        <\/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\/17\/world-trade-is-getting-increasingly-deregulated-and-disorganized-a-shifting-world-of-work-needs-businesses-to-adapt-quickly\/\" 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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Countries have been imposing greater export controls, subsidies, and tariffs that undermine trade relations \u2014 a trend spearheaded by the world\u2019s two largest economies, the US and China. The Trump administration, for instance, violated WTO regulations by imposing tariffs on imported steel and aluminum \u2014 with a US Trade Representative spokesperson insisting that the US, not the WTO, gets to decide what constitutes the protection of national security. China, meanwhile, has managed to circumvent the WTO\u2019s jurisdiction through opaque subsidies. For years, the only EVs it subsidized were those with Chinese batteries, but no WTO violation could be proved because these discriminatory subsidies aren\u2019t written into law. What\u2019s more, Western countries often refrain from raising complaints against China to the WTO in fear of retaliatory measures, such as antitrust and cybersecurity investigations.<\/p>\n<p><strong>Where does this leave the future of world trade? <\/strong>The WSJ posits that the future is going to look a lot like \u201cthe pre-WTO past,\u201d with trading partners moving towards negotiation rather than litigation and embracing regional pacts rather than a single stream of hardset rules. Countries will form trade relations \u201ca la carte,\u201d picking from a menu of partners and sectors that align with their values. But as always, not all will wield the same power. \u201cJust as hockey without referees favors the team with the largest players, trade without binding dispute settlement favors those countries best able to retaliate, or withstand retaliation \u2014 i.e., the US, China and the EU,\u201d the writer notes.<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Business needs to adapt to a changing world of work if they want to be around in 10<\/strong><strong> years:<\/strong> Nearly 40% of global CEOs believe their company will no longer be financially viable within a decade if they remain on their current trajectories, pointing primarily to a shortage in skilled employees, technological advancements, and shifting customer preferences, PwC\u2019s <a href=\"https:\/\/www.pwc.com\/ceosurvey#when-will-your-companys-climate-clock-run-out\">Global CEO Survey<\/a> shows. The survey, which was released yesterday just as Davos kicked off, paints an image of a widely negative sentiment regarding \u201cimmediate global outlook and longer-term survival prospects,\u201d <a href=\"https:\/\/www.theguardian.com\/business\/2023\/jan\/16\/almost-two-in-five-ceos-fear-their-global-firms-will-be-unviable-within-10-years\">The Guardian<\/a> writes. Growth prospects were bleak as well, with almost 75% of CEOs predicting that growth will slow in the coming year. CEOs across the globe were more confident in their three-year revenue growth prospects than they are in the shorter-term.<\/p>\n<p><strong>CEOs\u2019 confidence in their own company\u2019s prospects fell 25% y-o-y<\/strong> \u2014 a steeper decline than any other drop in the previous 15 years, with the exception of the 50% y-o-y drop recorded in 2009 with the global banking crisis. CEOs in the Middle East, Africa, Brazil, China, Japan however were an exception; they remained as confident in their growth prospects as they were last year. CEOs in the US were the most optimistic \u201cabout the long-term viability of their business models,\u201d while their peers in China (who are facing uncertainty about freeflowing global trade) and in Japan (who have been hindered by having one of the oldest populations in the world) were the least optimistic.<\/p>\n<p><strong>AND- The majority of the C-suite class anticipate some level of climate-change-related<\/strong><strong> impact over the next year,<\/strong> particularly in their cost profiles (which 50% anticipated will be impacted) and supply chains (42%). Fewer respondents (24%) were concerned about physical assets being impacted by climate change. Chinese CEOs feel particularly susceptible with 71% anticipating potential impact to their supply chains, 65% in cost profiles, and 56% in physical assets.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Big shakeup in Big Tech manufacturing as Apple moves away from Samsung for<\/strong><strong> microLED screen production:<\/strong> Apple is set to begin manufacturing its microLED screens in-house, as it looks to move its production chain away from production partners Samsung and LG, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-01-11\/apple-to-begin-making-in-house-screens-in-2024-in-shift-away-from-samsung?leadSource=uverify wall\">Bloomberg<\/a> reports, citing sources with knowledge of the matter. Apple is currently planning to begin using its own screens for certain products as early as next year, which will allow it to create and test higher quality screens faster and cheaper, the sources say.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>Researchers have developed a laser beam that can divert lightning strikes and<\/strong><strong> help protect infrastructure.<\/strong> The new \u201claser lightning rod\u201d is a significant advancement in the development of laser-based lightning protection that may be used to protect important facilities, such as airports and power stations during thunderstorms, according to the results of the research published in <a href=\"https:\/\/www.nature.com\/articles\/s41566-022-01139-z\">Nature Photonics<\/a>.<\/p>\n<p><strong>How it works:<\/strong> The new technology managed to deflect four lightning strikes at the Swisscom transmitter tower on Mount S\u00e4ntis, during six hours of thunderstorm activity through the use of a high-frequency laser beam which \u201cionizes air molecules in its path, creating an electrically conducting channel to guide a lightning strike\u201d to the ground, <a href=\"https:\/\/www.ft.com\/content\/ca60f7b4-82d0-4ffb-ba7f-c6780758b56c\">The Financial Times<\/a> writes. The aim of the project is to protect a broader area than the traditional metal rods that protrude from critical buildings and tall towers currently do. Those rods\u2019 radius of protection from strikes is approximately equal to their height. The S\u00e4ntis trial comes after 20 years of studies and laboratory tests aimed at producing a laser capable of diverting lightning without using large amounts of energy or creating safety issues. The scientists\u2019 next step for the project is applying for funding to test the system at an airport.<\/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\/for-your-commute\/\">FOR YOUR COMMUTE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/future-of-work\/\">future of work<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/science\/\">science<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-trade-organization\/\">World Trade Organization<\/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=\"580754\" 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=\"580754\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/17\/580754\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-580754\" class=\"content-area-description single-story post-580754 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=\"580755\" 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=\"580755\">\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\/17\/the-recruit-lawyer-turned-spy-navigates-the-office-politics-of-the-cia\/\">\r\n                            The Recruit: Lawyer-turned spy navigates the office politics of the CIA                        <\/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\/17\/the-recruit-lawyer-turned-spy-navigates-the-office-politics-of-the-cia\/\" 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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Unfamiliar with the workplace culture and politics, Owen struggles to maintain control when he comes across classified information that puts him in contact with a former CIA asset who is threatening to reveal the organization\u2019s secrets unless he helps her survive. His life is turned upside down as he becomes entangled in other international issues \u2014 and risks his life 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\/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=\"580760\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF 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markets are doing on 17 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\/17\/what-the-markets-are-doing-on-17-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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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\/17\/what-the-markets-are-doing-on-17-january-2023\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-580761\" class=\"content-area-description single-story post-580761 post type-post status-publish format-standard hentry category-go-with-the-flow tag-egx tag-enterprisepm tag-go-with-the-flow wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The EGX30 rose 0.9% at today\u2019s close<\/strong> on turnover of EGP 3.14 bn (85.7% above the 90-day average). Regional investors were net sellers. The index is up 9.5% YTD.<\/p>\n<p><strong>In the green: <\/strong>QNB Al Ahli (+5.7%), Ibnsina Pharma (+4.4%) and Heliopolis Housing (+4.4%).<\/p>\n<p><strong>In the red: <\/strong>Alexandria Containers and Cargo (-2.6%), Abu Qir Fertilizers (-2.0%) and Credit Agricole Egypt (-1.3%).<\/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=\"580762\" 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=\"580762\">\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\/2023\/01\/17\/meet-our-founder-of-the-week-hassan-fayed-founder-and-ceo-of-aydi\/\">\r\n                            Meet our founder of the week: Hassan Fayed, founder and CEO of Aydi                        <\/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\/17\/meet-our-founder-of-the-week-hassan-fayed-founder-and-ceo-of-aydi\/\" 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\/17\/meet-our-founder-of-the-week-hassan-fayed-founder-and-ceo-of-aydi\/')\">\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\/17\/meet-our-founder-of-the-week-hassan-fayed-founder-and-ceo-of-aydi\/\">\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=Meet our founder of the week: Hassan Fayed, founder and CEO of Aydi&url=https:\/\/enterpriseam.com\/egypt\/2023\/01\/17\/meet-our-founder-of-the-week-hassan-fayed-founder-and-ceo-of-aydi\/\">\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\/17\/meet-our-founder-of-the-week-hassan-fayed-founder-and-ceo-of-aydi\/&title=Meet our founder of the week: Hassan Fayed, founder and CEO of Aydi\">\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=Meet+our+founder+of+the+week%3A+Hassan+Fayed%2C+founder+and+CEO+of+Aydi+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F01%2F17%2Fmeet-our-founder-of-the-week-hassan-fayed-founder-and-ceo-of-aydi%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\/17\/meet-our-founder-of-the-week-hassan-fayed-founder-and-ceo-of-aydi\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/683.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"580763\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/17\/meet-our-founder-of-the-week-hassan-fayed-founder-and-ceo-of-aydi\/683-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/683.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"683.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/683.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/683.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-580762\" class=\"content-area-description single-story post-580762 post type-post status-publish format-standard has-post-thumbnail hentry category-founder-of-the-week tag-agriculture tag-aydi tag-enterprisepm tag-founder-of-the-week tag-hassan-fayed tag-startups wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>OUR FOUNDER OF THE WEEK<\/strong>- Every Tuesday, Founder of the Week looks at how a successful member of Egypt\u2019s startup community got their big break, asks about their experiences running a business, and gets their advice for budding entrepreneurs. Speaking to us this week is Hassan Fayed (<a href=\"https:\/\/www.linkedin.com\/in\/hassan-f-205745148\/\">LinkedIn<\/a>), founder and CEO at <a href=\"https:\/\/www.aydi.com\">Aydi<\/a>, an HR platform targeted at the agriculture sector.<\/p>\n<p><strong>My name is Hassan Fayed, and I am the founder and CEO of Aydi.<\/strong> We assist blue-collar workers \u2014 farmers \u2014 with seasonal staff hiring, management, and compensation.<\/p>\n<p><strong>I spent the majority of my career working in Dubai.<\/strong> I was the head of innovation at the <a href=\"https:\/\/www.dafz.ae\/en\/\">Dubai<\/a><a href=\"https:\/\/www.dafz.ae\/en\/\">Airport Freezone<\/a>, which is one of the largest special economic zones in the MENA region. I specialized in building in-house ventures, including <a href=\"https:\/\/dubaicommercity.ae\/contact-us\/?gclid=Cj0KCQiA_P6dBhD1ARIsAAGI7HCMjI6uG9AxB4R91r5iO6-0rn2_RWcUgNXK1JgjVh6gLJPtbnPjvDkaAlblEALw_wcB#contactform\">Dubai CommerCity<\/a>, <a href=\"https:\/\/www.tradeling.com\/ae-en\">Tradeling<\/a>, and <a href=\"https:\/\/www.scality.ae\">Scality<\/a>. I continue to serve on the boards of Scality and Tradeling.<\/p>\n<p><strong>My family is in the agriculture business, so I grew up very close to that sector<\/strong>. I used to spend the first month of my summers harvesting grapes in the fields, and that's when I first noticed the problem that Aydi is attempting to fix. Agriculture is the world\u2019s largest employer as a sector, with more than 1 bn seasonal employees worldwide \u2014 and 80% of them have purchased their first smartphone in the last five years.<\/p>\n<p><strong>The issue that these people are facing is a lack of year-round employment opportunities.<\/strong> Contrary to us, who have LinkedIn and other social media platforms, these people have nothing to publish or any profiles with which to advertise their qualified talents. And due to the seasonal nature of the labor, it is very difficult for the landowners and handlers to identify skilled workers, hire them, and keep them on board. There are also instances when the farms\u2019 management are unaware of who their employees are, who is going and who is staying, what issues they are having, and so on. Additionally, the entire process \u2014 including payroll and finances \u2014 is conducted primarily on paper. It's an extremely antiquated method of operating.<\/p>\n<p><strong>What we are attempting to do at Aydi is<\/strong> <strong>provide an end-to-end solution <\/strong>for farms that allows them to recruit suitable workers, and manage their workforce in terms of tracking attendance, productivity, and satisfaction scores. It also serves as a route for farmers to report any issues that may arise, as well as allows the management to identify who their top performers are and award bonuses to them among other things. We also automate payroll and digitize payments to these workers.<\/p>\n<p><strong>I decided to establish Aydi because its business mission resonated with me.<\/strong> I was constantly seeking out different ways to manage teams of workers more effectively and to introduce new strategies. I felt that the next step was to create something that I want to be a part of for the foreseeable future \u2014 and be excited to wake up everyday knowing that this is my profession. Our vision is to become the world\u2019s top platform for unlocking and improving human productivity in the agricultural sector. I believe that when automation enters this industry, it will drastically improve productivity, and allow workers to adapt to new technology and solutions.<\/p>\n<p><strong>The best part of my job is being in the field <\/strong>\u2014 visiting various farms, chatting with farmers and hearing about their experiences. It also gives me great pleasure to witness the positive impact our product is having on their lives.<\/p>\n<p><strong>The most challenging part of my job is the initial process of trying to educate our clients.<\/strong> The majority of farms we work with don\u2019t employ any kind of robust software and instead use pen and paper to record everything. The hardest aspect is breaking through their initial reluctance to adopt new ways of working; it\u2019s an industry that greatly avoids introducing new technologies.<\/p>\n<p><strong>We are currently working with around 20 of the largest commercial farms in the <\/strong><strong>country as our clients<\/strong>, and we are planning to expand our business even further by publicly launching our product, making it available for both individuals and independent farm-owners to use. We also want to establish a presence in another market by 3Q this year.<\/p>\n<p><strong>I collaborate closely with our leadership team to find solutions to problems. We also have <\/strong><strong>excellent investors on board<\/strong>, including both angel and VC, who are very helpful when it comes to addressing challenges. I also turn to my family and friends when I need to make a decision that is consistent with my own personal values and character.<\/p>\n<p><strong>I sacrificed everything to start my own company [laughs].<\/strong> A business\u2019 development takes endless hours of work. I gave up my social life and a promising job in Dubai. I also see my family and my dog much less than I would like. My family first found it difficult to understand why I would take the risk of leaving my well-paying job and choose to launch a business. However, as they came to realize the product's value over time, they became quite supportive.<\/p>\n<p><strong>Whenever I have some spare time<\/strong>, I try to sleep and eat [laughs]. Jokes aside, I love water sports and participate in diving, wakeboarding, and kitesurfing. I also compete in golf, and enjoy spending time with my family and friends.<\/p>\n<p><strong>The last great thing I read was Fyodor Dostoevsky\u2019s Russian novel <\/strong><strong><a href=\"https:\/\/www.amazon.com\/Brothers-Karamazov-Fyodor-Dostoevsky\/dp\/0374528373\">The Brothers<\/a><\/strong><strong><a href=\"https:\/\/www.amazon.com\/Brothers-Karamazov-Fyodor-Dostoevsky\/dp\/0374528373\">Karamazov<\/a><\/strong><strong>.<\/strong> I recently watched <a href=\"https:\/\/www.netflix.com\/title\/81317320\">White Noise<\/a>, and I listen regularly to the <a href=\"https:\/\/www.allinpodcast.co\">All-In<\/a> podcast with Chamath, Jason, Sacks, and Friedberg. It's a one-and-a-half hour weekly podcast where four extremely bright and accomplished people talk openly about a variety of things that are happening in the world that week.<\/p>\n<p><strong>I believe that <\/strong><strong><a href=\"https:\/\/openai.com\">OpenAI<\/a><\/strong><strong> is killing it on a global scale<\/strong>. The level of technological innovation that they are bringing, as well as the worldwide impact that it will have over the next decade, will be unlike any other transformation we have witnessed.<\/p>\n<p><strong>If I could give someone who is thinking of starting their own business just one piece of <\/strong><strong>advice, it would be to hire the best and the brightest<\/strong>. You will never succeed in your goals, no matter how capable you are, if you don't surround yourself with people who are more skilled than you are. The best catalyst for growth is having a very strong team.<\/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\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aydi\/\">Aydi<\/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\/hassan-fayed\/\">Hassan Fayed<\/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=\"580764\" 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\/17\/580764\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-580764\" class=\"content-area-description single-story post-580764 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: 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>16-20 January (Monday-Friday): <a href=\"https:\/\/www.weforum.org\/events\/world-economic-forum-annual-meeting-2023\/\">Davos 2023<\/a>.<\/p>\n<p>26 January-6 February (Thursday-Monday): 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>31 January (Tuesday): The IMF will release its World Economic Outlook Update.<\/p>\n<p><strong>FEBRUARY<\/strong><\/p>\n<p>1 February (Wednesday): Capricorn Energy will hold a vote on its merger with Israel\u2019s NewMed.<\/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":580748,"template":"","categories":[],"tags":[],"class_list":["post-580747","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"8ea37d00-6925-4cb1-abfb-58240175ba79","teaser":"","photo_url":"https:\/\/ent.news\/2023\/1\/679.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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