{"id":580984,"date":"2023-01-31T13:29:17","date_gmt":"2023-01-31T13:29:17","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=580984"},"modified":"2025-12-16T12:39:22","modified_gmt":"2025-12-16T12:39:22","slug":"tiffany-x-nike-falls-flat","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/tiffany-x-nike-falls-flat\/","title":{"rendered":"Tiffany x Nike falls flat?"},"content":{"rendered":"<section id=\"580986\" 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=\"580986\">\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\/31\/this-evening-idh-calls-time-of-death-on-idc-acquisition-eurozone-did-better-than-expected-in-2022\/\">\r\n                            THIS EVENING: IDH calls time of death on IDC acquisition + Eurozone did better than expected in 2022                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/31\/this-evening-idh-calls-time-of-death-on-idc-acquisition-eurozone-did-better-than-expected-in-2022\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The negotiations between IDH and IDC ultimately fell through due to \u201cextensive delays in the regulatory review process, the challenging global economic environment and the condition precedent related to repatriating funds,\u201d IDH said in a <a href=\"https:\/\/www.londonstockexchange.com\/news-article\/IDHC\/idh-to-no-longer-pursue-acquisition-of-idc-stake\/15816623\">disclosure to the LSE<\/a>. IDH had signed a share purchase agreement in December 2021 that would have seen it acquire 50% of the Pakistani diagnostic provider for USD 72.35 mn.<\/p>\n<p><strong>THE BIG STORY ABROAD<\/strong><\/p>\n<p><strong>The eurozone recorded higher-than-expected growth in 2022, buoyed by positive growth<\/strong><strong> in 4Q 2022<\/strong>, despite analyst forecasts that the bloc would record negative GDP figures during the final three months of last year. Across the full year, the eurozone\u2019s GDP grew at a 3.5% clip, outpacing the US and China. The story is broadly leading the conversation in the international business press this afternoon: <a href=\"https:\/\/www.cnbc.com\/2023\/01\/31\/euro-zone-gdp-q4-2023-.html\">CNBC<\/a> | <a href=\"https:\/\/www.ft.com\/content\/004faaeb-52d2-4b93-aaf7-01b5a9531a90\">Financial Times<\/a> | <a href=\"https:\/\/www.reuters.com\/markets\/europe\/euro-zone-economy-unexpectedly-expands-q4-avoids-recession-2023-01-31\/\">Reuters<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/eurozones-economy-outpaced-china-and-u-s-in-2022-11675161027?mod=hp_lead_pos3\">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>A unit of Qatar\u2019s sovereign wealth fund <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8d2b9979-bfbb-4862-9963-dbd2fcdc388a\">is eyeing majority stakes<\/a><\/strong><strong> in two state-owned terminal operators as investment bankers angle for IPO mandates<\/strong> in what could be the first sign so far this year of significant new activity in the Madbouly government\u2019s privatization program.<\/li>\n<li><strong>Blinken talks Egypt-US partnership, Israel-Palestine conflict with El Sisi, Shoukry:<\/strong> US Secretary of State Antony Blinken <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/57655db4-c88c-4770-9ad4-335a3dd0879f\">held talks<\/a> with President Abdel Fattah El Sisi and Foreign Minister Sameh Shoukry yesterday before heading to Israel for the final leg of a three-day Middle East tour.<\/li>\n<li><strong>Transport Minister defends spending record at the House:<\/strong> Transport Minister Kamel El Wazir <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8811c4e8-2fd9-4109-bc2e-bb8285e75200\">defended his ministry\u2019s spending<\/a> on trains and rail infrastructure at the House yesterday, responding to wide-ranging questions from MPs.<\/li>\n<\/ul>\n<p><strong>** <\/strong><strong><a href=\"https:\/\/www.surveymonkey.com\/r\/FMGPJ3G\">TAKE OUR JANUARY ENTERPRISE READER SURVEY<\/a><\/strong><strong> and get a chance to have lunch<\/strong><strong> with us:<\/strong> Give us your thoughts on how 2022 panned out for your business and industry, and what you\u2019re expecting in the year ahead in our Enterprise Reader Survey.<\/p>\n<p><strong>We\u2019re asking you to share your expectations<\/strong> on the EGP \/ USD rate in 2023, how you\u2019re managing expenses amid the rising cost of living, where you see your industry as a whole heading, and whether you expect to make fresh investments \u2014 among a few other questions we ask our community on a regular basis. As is our custom, we\u2019ll be sharing the results with all of you in a few weeks\u2019 time to help you shape your view of the year.<\/p>\n<p><strong>You can <\/strong><strong><a href=\"https:\/\/www.surveymonkey.com\/r\/FMGPJ3G\">take the Reader Survey here<\/a><\/strong> \u2014 it won\u2019t take more than a few minutes to complete.<\/p>\n<p><strong>Want to have lunch with us?<\/strong> Leave your name, email, mobile number, and where you work in the box for \u201cIs there anything else you want to tell us.\u201d We\u2019ll be inviting eight participating readers to breakfast at one of our favorite restaurants.<\/p>\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>COME TO OUR NEXT ENTERPRISE FORUM- <\/strong><\/p>\n<p class='web-image'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/Enterprise-FDI-Exports_1600.jpg?ssl=1\" alt='enterprise'><\/p>\n<p><strong>We\u2019re excited to unveil our next C-level event: <\/strong>The Enterprise FDI + Exports Forum, where we will take a deep dive into two of the most critical topics affecting our community.<\/p>\n<p><strong>Exports and foreign direct investment (FDI) have never been more important to our economy<\/strong> \u2014 or our businesses \u2014 than in the wake of the float of the EGP. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/feeda831-c0fd-43df-b197-08ddb74254e7\">We think we have a once-in-a-lifetime chance to build an export-led economy<\/a> that makes us a magnet for FDI and all the benefits that will come with it for our nation.<\/p>\n<p><strong>Want to join the conversation? <\/strong>Drop us a line on <a href=\"mailto:events@enterprisemea.com\">events@enterprisemea.com<\/a>.<\/p>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>It\u2019s interest rate week here at home\u2026 <\/strong>The Central Bank of Egypt (CBE) is likely to hike interest rates when it meets on Thursday as inflation continues to run high, according to our <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/89a865a7-f6fa-4818-8b55-f5e0fd8bb1e5\">interest rate poll<\/a>.<\/p>\n<p><strong>We\u2019re still waiting to hear what\u2019s happening with fuel prices this quarter: <\/strong>The government\u2019s fuel pricing committee was due to meet earlier this month to set fuel prices for 1Q 2023. The government has increased prices at the pump by <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/02504f84-a7b4-43ef-818f-fb9abe3a75a7\">23-28%<\/a> since April 2021, and decided on a rare fuel oil price hike last July.<\/p>\n<p><strong>Expect prices to rise: <\/strong>The government has committed to changing local fuel prices in line with movements in the global markets under the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2f25427b-43e1-4104-9b7a-2aea214242b2\">USD 3 bn loan agreement<\/a> with the IMF.<\/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>?\ufe0f <strong>TOMORROW\u2019S WEATHER- <\/strong>Expect a mainly sunny day tomorrow with temperatures in Cairo expected to hit 18\u00b0C during the day before falling to 9\u00b0C at night, our favorite weather app tells us.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/integrated-diagnostics-holding\/\">Integrated Diagnostics Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-tonight\/\">WHAT WE\u2019RE TRACKING TONIGHT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section 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src=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/1600-x-768.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"580989\" 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=\"580989\">\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 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/31\/sneakerheads-arent-happy-with-the-tiffany-x-nike-collab-africas-startups-did-okay-in-2022-despite-a-funding-crunch\/778-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/778.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"778.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/778.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/778.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-580989\" class=\"content-area-description single-story post-580989 post type-post status-publish format-standard has-post-thumbnail hentry category-for-your-commute tag-enterprisepm tag-for-your-commute 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-02\"><\/a> <strong>Tiffany and Nike collaborated on a new shoe release \u2014 but sneakerheads aren\u2019t loving it:<\/strong> The internet lost its collective mind over the weekend when luxury jewelry brand Tiffany & Co and athletic wear giant Nike announced they\u2019re joining forces to create a <a href=\"https:\/\/www.tiffany.com\/stories\/tiffany-and-nike-air-force\/\">collaboration sneaker,<\/a> dubbed the Nike Air Force 1 Low Tiffany & Co \u201c1837.\u201d But unofficial <a href=\"https:\/\/twitter.com\/SneakerNews\/status\/1618741827296698369\">leaked images<\/a> on social media have not been well received by sneaker collectors, who argue that it isn\u2019t as impressive as they had hoped for from such a high-profile collaboration. The disappointment is compounded by the shoes\u2019 price tag: The limited release will come with an eye-popping price tag of USD 400 (or a rather painful EGP 12k) \u2014 at least double what you\u2019d expect to pay for a regular Air Force 1, according to <a href=\"https:\/\/www.businessinsider.com\/nike-and-tiffany-and-co-collab-not-impressing-sneakerheads-2023-1\">Insider<\/a>.<\/p>\n<p><strong>This partnership comes as Tiffany strives to modernize its image and appeal to a<\/strong><strong> younger clientele.<\/strong> Since LVMH\u2019s 2021 purchase of Tiffany, the company has participated in a number of partnerships, including one with <a href=\"https:\/\/www.tiffany.com\/stories\/guide\/beyonce-and-jay-z-about-love\/\">Beyonc\u00e9 and Jay-Z<\/a>. LVMH owner Bernard Arnault has recently overtaken tech tycoon Elon Musk as the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ef457954-28bc-423f-bc35-d1df7e85845f\">richest man in the world<\/a>.<\/p>\n<p>!_InsertLine<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>African startups are bucking the <\/strong><strong>trend and continuing to raise funds:<\/strong> African startups continued to grow and secure VC funding despite global pessimism and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bba991e8-413d-4ca5-9d74-71a8095ff1c2\">caution from investors<\/a>, raising more funding by volume and value in 2022 than in 2021, according to <a href=\"https:\/\/techcrunch.com\/2023\/01\/27\/how-african-startups-raised-venture-capital-in-2022\/\">TechCrunch<\/a>. African startups raised some USD 4.8-5.4 bn from 975 transactions in 2022, data estimates suggest, compared to USD 5.2 bn from 790 transactions in 2021. \u201cDespite the challenges that emerged in the second half of the year, 2022 was another year of growth for Africa \u2026 This is particularly noteworthy, as every other region experienced a double-digit drop in funding activity during the same period,\u201d African data tracker <a href=\"https:\/\/thebigdeal.substack.com\/\">The Big Deal<\/a> co-founder Max Cuvellier told TechCrunch.<\/p>\n<p><strong>Where did the money go? <\/strong>Companies in Africa\u2019s big four \u2014 Nigeria, Kenya, <a href=\"https:\/\/enterprise.press\/whatsnexts\/a-year-of-reckoning-for-planet-startup\/\">Egypt<\/a> and South Africa \u2014 brought in 75% of the funding secured. Fintech companies continued to account for the largest chunk of funding, with around 38% of the funding secured by African startups last year. That number is a significant drop from the 62% recorded in 2021. Other notable sectors drawing in funds include cleantech, logistics, and mobility. The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/30a6aaa7-8efa-45a4-a0a8-7e29ff831a77\">Enterprise Startup Tracker<\/a> counted 94 investments in Egyptian startups worth USD 507 mn in 2022.<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Dubai\u2019s Orfali Bros. Bistro crowned MENA\u2019s best restaurant in 2023 from the <\/strong><strong><a href=\"https:\/\/www.theworlds50best.com\/mena\/en\/lists\/1-50\">World\u2019s<\/a><\/strong><strong><a href=\"https:\/\/www.theworlds50best.com\/mena\/en\/lists\/1-50\">Best 50<\/a><\/strong><strong>: <\/strong>The homegrown eatery was founded by three Syrian brothers, and represents \u201cthe new Dubai cuisine,\u201d according to co-founder Mohammed Orfali, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-01-30\/world-s-50-best-restaurant-2023-awards-full-list-for-middle-east-north-africa?sref=mmeFTDW1\">Bloomberg<\/a>reports. Dubai bagged 15 spots on the list, including top six of the top 10, giving it the highest number of eateries on the list for the second consecutive year. Tel Aviv follows with six restaurants on the list, and Amman with five. There are a substantial number of Asian and other non-Middle Eastern eateries featured on the list, which is something many chefs expressed that they would like to see change. There is little overlap between the restaurants that are awarded Michelin stars and those that make the 50 Best lists, which tend to be more progressive.<\/p>\n<p><strong>Four Egyptian restaurants made the cut:<\/strong> A round of applause for our friends at <strong>Zooba<\/strong> who came in ninth place, consolidating its success as a homegrown brand that began in Zamalek a decade ago and now has multiple branches in Egypt and abroad. Restaurateur Ayman Baki\u2019s Japanese restaurant and bar <strong>Kazoku<\/strong> came in 12th place, while his flagship restaurant <strong>Sachi<\/strong> came in 30th. Japanese restaurant <strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/953283b1-bd57-4193-911a-e942f4772cd6\">Reif Kushiyaki<\/a><\/strong>, the first franchise of the Dubai-born Japanese street food eatery, came in 45th place only a year after it <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/953283b1-bd57-4193-911a-e942f4772cd6\">opened in Egypt<\/a>in December 2021.<\/p>\n<p><strong>The top 10:<\/strong> Orfali Bros Bistro (Dubai), Tr\u00e8sind Studio (Dubai), Fusions by Tala (Manama), Ossiano (Dubai) , 3 Fils (Dubai), George & John (Tel Aviv), Kinoya (Dubai), Fakhreldin, (Amman), Zooba in Zamalek (Cairo) and Moonrise (Dubai).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/for-your-commute\/\">FOR YOUR COMMUTE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"580991\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"580991\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/31\/580991\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-580991\" class=\"content-area-description single-story post-580991 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.palmhillsdevelopments.com\/en-us\/home\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/Palm-Hills-The-Crown-web-dec-22.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"580992\" 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=\"580992\">\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\/31\/you-people-brings-a-star-studded-cast-to-bring-humor-to-the-clash-of-cultures\/\">\r\n                            You People brings a star-studded cast to bring humor to the clash of cultures                        <\/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\/31\/you-people-brings-a-star-studded-cast-to-bring-humor-to-the-clash-of-cultures\/\" 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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Ezra, a Jewish-American, and Amira Mohammed, who is of Muslim-African descent, are trying to navigate the clash of cultures as their families meet up, bombarding each other with inappropriate questions that shed light on the existing bias and misperceptions of society.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-recommends\/\">Enterprise Recommends<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/on-the-tube-tonight\/\">On The Tube Tonight<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"580997\" 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 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    <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240928.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.beltoneholding.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27484.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Where disruption meets success<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-bf10tpw\" data-v=\"4\" data-block-id=\"bf10tpw\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-bf10tpw-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-bf10tpw-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240936.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/cira.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27480.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Shaping the future of education in Egypt<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button 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0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"580998\" 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=\"580998\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">GO WITH THE FLOW<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/31\/sidpec-releases-2022-earnings-obour-land-plans-dividend-payments\/\">\r\n                            Sidpec releases 2022 earnings + Obour Land plans dividend payments                        <\/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\/31\/sidpec-releases-2022-earnings-obour-land-plans-dividend-payments\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" 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2022 earnings + Obour Land plans dividend payments&url=https:\/\/enterpriseam.com\/egypt\/2023\/01\/31\/sidpec-releases-2022-earnings-obour-land-plans-dividend-payments\/\">\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\/31\/sidpec-releases-2022-earnings-obour-land-plans-dividend-payments\/&title=Sidpec releases 2022 earnings + Obour Land plans dividend payments\">\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=Sidpec+releases+2022+earnings+%2B+Obour+Land+plans+dividend+payments+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F01%2F31%2Fsidpec-releases-2022-earnings-obour-land-plans-dividend-payments%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\/31\/sidpec-releases-2022-earnings-obour-land-plans-dividend-payments\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-580998\" class=\"content-area-description single-story post-580998 post type-post status-publish format-standard hentry category-go-with-the-flow tag-egx tag-enterprisepm tag-go-with-the-flow tag-obour-land tag-sidi-kerir-petrochemicals wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>MARKET WATCH-<\/strong><\/p>\n<p><strong>Sidi Kerir Petrochemicals\u2019 net income after tax rose to EGP 1.24 bn in 2022<\/strong>, up 131% y-o-y, according to its <a href=\"https:\/\/ent.news\/2023\/1\/Sidi-Kerir-Earnings-2022.pdf\">earnings release (pdf)<\/a>. The company\u2019s revenues jumped 69% y-o-y to EGP 8.66 bn.<\/p>\n<p><strong>Obour Land is paying out EGP 380 mn of dividends<\/strong> at EGP 0.95 per share, the company said in an <a href=\"https:\/\/ent.news\/2023\/1\/Obour-Land-BOD-Minutes-29-01-2023-AR.pdf\">EGX disclosure (pdf)<\/a>. The company\u2019s board of directors has approved the dividend distribution, which still requires sign-off from its ordinary general assembly. The cheesemaker\u2019s net earnings stood at EGP 462.7 mn in 2022, rising 32% y-o-y.<\/p>\n<hr class=\"grey-line\">\n<p><strong>MARKET ROUNDUP- <\/strong><\/p>\n<p><strong>The EGX30 fell 3.4% at today\u2019s close<\/strong> on turnover of EGP 1.97 bn (11.5% above the 90-day average). Local investors were net buyers. The index is up 12.7% YTD.<\/p>\n<p><strong>In the green: <\/strong>Telecom Egypt (+5.4%), AMOC (+1.0%) and Eastern Company (+0.9%).<\/p>\n<p><strong>In the red: <\/strong>Alexandria Containers and Cargo Handling (-7.9%), Credit Agricole Egypt (-7.3%) and Housing and Development Bank (-6.2%).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/go-with-the-flow\/\">Go with the Flow<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/obour-land\/\">Obour Land<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sidi-kerir-petrochemicals\/\">Sidi Kerir Petrochemicals<\/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=\"580999\" 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=\"580999\">\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\/31\/meet-our-founder-of-the-week-omar-eldessouky-co-founder-and-ceo-of-seqoon\/\">\r\n                            Meet our founder of the week: Omar ElDessouky, co-founder and CEO of Seqoon                        <\/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\/31\/meet-our-founder-of-the-week-omar-eldessouky-co-founder-and-ceo-of-seqoon\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Speaking to us this week is Omar ElDessouky (<a href=\"https:\/\/www.linkedin.com\/in\/omar-eldessouky-2b72801a9\">LinkedIn<\/a>), co-founder and CEO of property co-ownership startup <a href=\"https:\/\/www.seqoon.com\">Seqoon<\/a>.<\/p>\n<p><strong>My name is Omar ElDessouky, and I\u2019m the co-founder of Seqoon. <\/strong>I graduated from AUC last summer with a bachelor\u2019s degree in civil engineering. I started working on Seqoon with my co-founder Mohamed El Khatib. He was finishing up his master's degree in Cambridge at the time, and I was still in my last year of university.<\/p>\n<p><strong>We first had the idea for Seqoon while we were at the North Coast, looking at housing prices<\/strong>. We discovered that there is a gap in the market for Gen Z, millennials, and others who want to buy a second home for investment or use, but there is a financial barrier. So we began researching our concept, which is co-owning a property for use and investment, and whether similar models existed. We found Pacaso in the US, which sparked a global prop-tech revolution, and were eager to see if the same model would solve the problem in Egypt.<\/p>\n<p><strong>We created a quick website on Wix to test out the market<\/strong>. We were overwhelmed by the number of people who accessed the site, and this helped us to collect data about the nature of our customers, their average budget, and we further built on the concept from there. Now, we handle the scheduling, the usage, and we also help out if an owner wants to sell their shares.<\/p>\n<p><strong>I grew up working with and learning from my father, who owns a construction company.<\/strong> I didn\u2019t have the fear of starting a business because I had already experienced its inner workings. Therefore, my partner and I were looking for a challenge. We wanted to address the most pressing issue in Egypt\u2019s largest market, which is real estate and affordability. We knew that starting a company at this age would be difficult, in terms of attracting high-caliber and convincing investors \u2014 but this challenge motivated us even more.<\/p>\n<p><strong>The best part of my job is coming into the office every day and working with the great team that we've built.<\/strong> We have a lot of interesting people on the team, so it's always a pleasure to interact with them. <strong>The most difficult aspect of my job is dealing with the day-to-day logistics of running a business<\/strong>, such as accounting and paperwork. It isn\u2019t enjoyable for anyone, but it\u2019s something that has to be done.<\/p>\n<p><strong>The three most important KPIs that we look at on a regular basis <\/strong>include the burn rate. It\u2019s the most important metric right now, and I believe that many startups are looking at it as well since the economic situation is unstable. Moreover, we look at the number of house shares we sell per month, the number of houses we have, how quickly we can finish up an entire house, and the number of shares multiplied by the number of houses, as well as the lead conversion rate.<\/p>\n<p><strong>Seqoon has <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/77cf5bab-e84f-4602-99a0-c2463b707825\">raised USD 500k<\/a><\/strong><strong> in a pre-seed funding round led by Banque Misr.<\/strong> We also have some angel investors, including Scott Bond (<a href=\"https:\/\/www.linkedin.com\/in\/scottbondseattle\/\">LinkedIn<\/a>), who is the vice president and country manager of Property Finder in the UAE.<\/p>\n<p><strong>Right now, we\u2019re keeping our heads down and concentrating on gaining as much traction as possible before approaching investors for another round.<\/strong> However, we are looking for opportunities across MENA. We now have a presence in Gouna, Soma Bay, and Sokhna, and we\u2019re looking to expand to the North Coast, after which we\u2019ll raise again and enter the Gulf.<\/p>\n<p><strong>If I could give someone starting their own business just one piece of advice, it would be to find a great mentor <\/strong>\u2014 someone who already has a skill in the game and can help you learn a lot. I usually consult my father whenever I need to fix a difficult problem. He founded his construction company at the age of 23 and now it is one of Egypt's largest contractors. I'm very proud of his accomplishments, and he is unquestionably the person to confide in.<\/p>\n<p><strong>Being founder of a startup could be a lonely journey, but it helps to have co-founders.<\/strong> When you start a business, you are constantly under pressure, and even if you have a great team, they will not be dealing with the same issues, so the co-founders are the only people who can balance this pressure together.<\/p>\n<p><strong>I turn to books for inspiration.<\/strong> I like to read a lot. It\u2019s extremely helpful and I see it as a spiritual and mindful time off. A lot of what I read is about startups, as well as self-help books. The last great thing I read is <a href=\"https:\/\/www.amazon.com\/Everything-Store-Jeff-Bezos-Amazon-ebook\/dp\/B00BWQW73E\">The Everything Store: Jeff Bezos and the Age of Amazon<\/a> by Brad Stone. I also recently watched <a href=\"https:\/\/www.netflix.com\/tr-en\/title\/60011152\">The Godfather<\/a> again which is my all-time favorite movie, and I listen to all of <a href=\"https:\/\/www.ycombinator.com\/blog\/tag\/podcast\/\">Y Combinator\u2019s<\/a> podcasts<strong>.<\/strong><\/p>\n<p><strong>I don't have a lot of spare time, but when I do, I spend it playing chess.<\/strong> I have a chess obsession. I was actually just playing right before the interview [laughs].<\/p>\n<p><strong>If I had to exit my business tomorrow<\/strong>, I would do it through an IPO, and I would definitely stay on as an employee.<\/p>\n<p><strong>My family was initially skeptical of my career choice.<\/strong> They couldn't understand why I would want to branch out on my own when we have a stable family business. But as we grew Seqoon into a company and demonstrated that we knew what we were doing, that quickly changed and they now show a lot of support.<\/p>\n<p><strong>I believe that <\/strong><strong><a href=\"https:\/\/www.flextock.com\">Flexstock<\/a><\/strong><strong> and <\/strong><strong><a href=\"https:\/\/khazna.app\">Khazna<\/a><\/strong><strong> are two startups that are killing it.<\/strong> Anything in the logistics industry at the moment is very helpful for the country.<\/p>\n<p><strong>I\u2019d like to see a lot more younger founders in the local start up scene.<\/strong> It is very consolidated right now \u2014 people with similar experiences and age, who make sense to be the pioneers. Therefore, I\u2019d like to see more young entrepreneurs enter the scene.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/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=\"581001\" 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\/31\/581001\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-581001\" class=\"content-area-description single-story post-581001 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>26 January-6 February (Thursday-Monday): Cairo International Book Fair, Egypt International Exhibition Center.<\/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>31 January (Tuesday): EBRD + EU + GCF will lay out their strategic plans to boost green finance in Egypt.<\/p>\n<p>31 January-1 February (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/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>1 February (Wednesday): OPEC will hold a joint ministerial monitoring committee meeting.<\/p>\n<p>2 February (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>5 February (Sunday): The Senate reconvenes.<\/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>6-9 March (Monday-Thursday): EFG Hermes One-on-One conference, Atlantis, Dubai.<\/p>\n<p>21-22 March (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>23 March (Thursday): 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>April: GAFI<a href=\"https:\/\/www.alborsaanews.com\/2023\/01\/20\/1623257\">to launch<\/a> the country\u2019s first integrated electronic platform to facilitate setting up a business.<\/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>21 April (Friday): 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>2-3 May (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/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>7-10 (Wednesday-Saturday): The second edition of Africa Health Excon.<\/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>13-14 June (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/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>25-26 July (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/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>19-20 September (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/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>31 October - 1 November (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/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>12-13 December (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/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<p>1Q 2023: The Madbouly government <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/35d181ed-a21c-4edf-8223-780c9b4ee714\">will choose<\/a> which state-owned hotels will be merged into a new hotels company ahead of an offering to foreign and Gulf investors.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":580985,"template":"","categories":[],"tags":[],"class_list":["post-580984","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"1b0a9da4-cd9b-4785-9eb1-6cde6fac7458","teaser":"","photo_url":"https:\/\/ent.news\/2023\/1\/776.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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