{"id":583017,"date":"2023-02-05T00:00:00","date_gmt":"2023-02-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=583017"},"modified":"2025-12-16T13:22:54","modified_gmt":"2025-12-16T13:22:54","slug":"are-museums-going-to-become-a-thing-of-the-past","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/are-museums-going-to-become-a-thing-of-the-past\/","title":{"rendered":"Are museums going to become a thing of the past?"},"content":{"rendered":"<section id=\"583019\" 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=\"583019\">\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\/02\/05\/this-evening-private-sector-activity-remains-in-contraction-territory-again-in-january-former-pm-sherif-ismail-laid-to-rest\/\">\r\n                            Egyptian private sector activity remains in contraction territory again in January + Former PM Sherif Ismail laid to rest                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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             <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/wp-content\/uploads\/2016\/11\/lunch-atop-a-sky-scraper-web.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"583020\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/05\/this-evening-private-sector-activity-remains-in-contraction-territory-again-in-january-former-pm-sherif-ismail-laid-to-rest\/lunch-atop-a-sky-scraper-web-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/internal\/wp-content\/uploads\/2016\/11\/lunch-atop-a-sky-scraper-web.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"lunch-atop-a-sky-scraper-web.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/internal\/wp-content\/uploads\/2016\/11\/lunch-atop-a-sky-scraper-web.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/internal\/wp-content\/uploads\/2016\/11\/lunch-atop-a-sky-scraper-web.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-583019\" class=\"content-area-description single-story post-583019 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-tonight tag-enterprisepm tag-pmi tag-what-were-tracking-tonight wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/3\/.0d35e997-35cd-4887-81c2-1a636c6e47d8.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Good afternoon, wonderful people.<\/span><span style=\"\"> We have a relatively brisk start to this first full work week<\/span><span style=\"font-weight:400;\"> of February, with a little bit of everything happening.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">THE BIG STORY TODAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Private sector starts the year with sharper contraction: <\/span><span style=\"\">Activity in Egypt\u2019s<\/span><span style=\"\"> no<\/span><span style=\"\">n-oil private sector contracted at a quicker pace in January, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/enterprise.press\/wp-content\/uploads\/2023\/02\/PMI-January.pdf\" style=\"\">S&P Global\u2019s purchasing managers\u2019 index (pdf)<\/a><\/span><span style=\"font-weight:400;\">. January\u2019s PMI reading fell to 45.5 in January from 47.2 a  month earlier \u2014 marking the 26th consecutive month of contraction \u2014 as high inflation and the weakening EGP continue to weigh on businesses. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">THE BIG STORY ABROAD<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Picking up where we left off this morning, the international business press is still mostly<\/span><span style=\"font-weight:700\"> leading with the US shooting down a suspected Chinese spy balloon.<\/span><span> The story is on the front pages of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/397befd1-1bd4-4749-baa1-da30043a3ac6\" style=\"\">Financial Times<\/a><\/span><span>, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cnbc.com\/2023\/02\/04\/us-military-prepares-to-take-down-suspected-chinese-surveillance-balloon.html\" style=\"\">CNBC<\/a><\/span><span>, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-02-05\/china-swings-from-contrite-to-confrontational-in-us-balloon-saga\" style=\"\">Bloomberg<\/a><\/span><span>, and the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wsj.com\/articles\/u-s-considers-shooting-down-chinese-spy-balloon-over-atlantic-11675536746?mod=hp_lead_pos7\" style=\"\">Wall Street Journal<\/a><\/span><span>.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">HAPPENING NOW-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Former Prime Minister Sherif Ismail\u2019s military funeral is currently underway<\/span><span style=\"\">, with President<\/span><span> Abdel Fattah El Sisi and several government officials in attendance, according to an Ittihadiya <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02JRj2au5Rvy39AUpqUrgB8f6saYQBuFsHE56uxCJ8zSZtvrk5oK6sbjCR1fUMqcVMl\" style=\"\">statement<\/a><\/span><span>. Ismail passed away yesterday at the age of 67 following a battle with illness. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/www.surveymonkey.com\/r\/FMGPJ3G\" style=\"\">TAKE OUR JANUARY ENTERPRISE READER SURVEY<\/a><\/span><span style=\"font-weight:700\"> and get a chance to break bread<\/span><span style=\"font-weight:700\"> with us:<\/span><span style=\"font-weight:400;\"> 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.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">We\u2019re asking you to share your expectations<\/span><span style=\"font-weight:400;\"> 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.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">You can <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/www.surveymonkey.com\/r\/FMGPJ3G\" style=\"\">take the Reader Survey here<\/a><\/span><span style=\"font-weight:400;\"> \u2014 it won\u2019t take more than a few minutes to complete.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Want to have a meal with us?<\/span><span style=\"font-weight:400;\"> 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 a meal at one of our favorite restaurants.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">** CATCH UP QUICK<\/span><span style=\"\"> on the top stories from today\u2019s <\/span><span style=\"font-weight:700\">EnterpriseAM<\/span><span style=\"font-weight:400;\">:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">CBE unexpectedly holds interest rates steady in its first meeting of the year:<\/span><span> The Central Bank of Egypt (CBE) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/05\/cbe-keeps-rates-on-hold-in-surprise-move-95377\/\" style=\"\">left interest rates unchanged<\/a><\/span><span style=\"font-weight:400;\"> on Thursday, defying expectations of a third consecutive hike.<\/span><\/li>\n<li><span style=\"font-weight:700\">Egypt\u2019s current account deficit <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/05\/current-account-deficit-narrows-20-in-1q-2022-23-95378\/\" style=\"\">narrowed by 20%<\/a><\/span><span style=\"font-weight:700\"> to USD 3.2 bn in 1Q 2022-23<\/span><span style=\"font-weight:400;\"> on the back of higher FDI, exports, and tourism revenues, according to CBE figures. <\/span><\/li>\n<li><span style=\"font-weight:700\">Govt lays out the details of in-school tutoring scheme:<\/span><span> The Education Ministry <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/05\/govt-to-launch-in-school-tutoring-in-bid-to-compete-with-private-tutors-95379\/\" style=\"\">will launch<\/a><\/span><span style=\"font-weight:400;\"> an in-school tutoring scheme across all governorates at the start of the second semester of the academic year next week, Education Minister Reda Hegazy told reporters on Thursday<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p class=\"web-image-inner\"><img data-recalc-dims=\"1\" decoding=\"async\" style=\"display: block\" src=\"https:\/\/i0.wp.com\/enterprise.press\/wp-content\/uploads\/2022\/03\/Inside-Industry-en-WEB-1600x584-v5-03-1.jpg\" alt=\"enterprise\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">*** It\u2019s Inside Industry day \u2014<\/span><span style=\"font-weight:700\">your weekly briefing of all things industrial in Egypt.<\/span><span style=\"font-weight:400;\"> Inside Industry focuses each Sunday on what it takes to turn Egypt into a manufacturing and export powerhouse, ranging from initial investment and planning to product distribution, through to land allocation to industrial processes, supply chain management, labor, automation and technology, inputs and exports, regulation and policy.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">In today\u2019s issue:<\/span><span style=\"\"> After a bumper 2022, the fertilizer industry in Egypt is broadly expected to<\/span><span style=\"font-weight:400;\"> have another strong year in 2023 \u2014 albeit with a slight slowdown as market dynamics shift. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/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 style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">FOR TOMORROW-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Operation Save Lebanon:<\/span><span style=\"\"> Egyptian officials are attending an international meeting in Paris called by <\/span><span>France to discuss how to end a political impasse in crisis-hit Lebanon, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.zawya.com\/en\/world\/uk-and-europe\/france-to-host-international-meet-on-crisis-hit-lebanon-rwpe3aza\" style=\"\">AFP<\/a><\/span><span style=\"font-weight:400;\"> reported, citing statements by the French Foreign Ministry\u2019s spokesperson. Officials from Saudi Arabia, Qatar and the US will also be in attendance.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">? CIRCLE YOUR CALENDAR-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Palestine talks in Cairo:<\/span><span style=\"\"> Hamas leader Ismail Haniyeh is expected to fly into Cairo this week to <\/span><span>hold talks with Egyptian intelligence chief Abbas Kamel and other security officials, a Hamas spokesperson said in a statement picked up by the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.jpost.com\/middle-east\/article-730586\" style=\"\">Jerusalem Post<\/a><\/span><span style=\"font-weight:400;\">. The secretary of Palestinian Islamic Jihad was in Cairo yesterday for talks, the Israeli newspaper reported. The invite came days after Kamel visited Ramallah for talks with Palestinian President Mahmoud Abbas and other officials in a bid to end the recent violence in the West Bank and Jerusalem.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">The key remaining news triggers this month:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">Foreign reserves:<\/span><span style=\"font-weight:400;\"> The central bank will release January\u2019s foreign reserves figures this week.<\/span><\/li>\n<li><span style=\"font-weight:700\">Inflation:<\/span><span style=\"font-weight:400;\"> The CBE and Capmas will publish inflation data for January at the end of this week.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Unis go back this week:<\/span><span style=\"\"> The second semester of the 2022-2023 academic year begins for <\/span><span>public universities on 11 February.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Petro-show next week:<\/span><span style=\"\"> Oil and gas industry figures from Egypt and the region will congregate <\/span><span>at the Egypt International Exhibition Center for the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egyps.com\/\" style=\"\">Egypt Petroleum Show (Egyps)<\/a><\/span><span style=\"font-weight:400;\"> starting next Monday. The three-day conference runs 13-15 February.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\" style=\"\">Check out our full calendar on the web<\/a><\/span><span style=\"font-weight:400;\"> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">?\ufe0f<\/span><span style=\"font-weight:700\">TOMORROW\u2019S WEATHER- It\u2019s getting chillier:<\/span><span style=\"\"> Expect the mercury to dip to a high of 16<\/span><span style=\"\">\u00b0C<\/span><span style=\"font-weight:400;\"> during the day, with our favorite weather app bracing us for some strong winds. The temperature will drop to a nighttime low of 9\u00b0C.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pmi\/\">PMI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-tonight\/\">WHAT WE\u2019RE TRACKING TONIGHT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"583021 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"583021\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/05\/583021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-583021\" class=\"content-area-description single-story post-583021 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.mashreqbank.com\/en\/uae\/personal\/branding\/brand-home\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/climate.enterprise.press\/wp-content\/uploads\/2023\/02\/Okhtein-1600x768-1.png\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"583022\" 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=\"583022\">\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\/02\/05\/naguib-sawiris-is-back-among-the-500-wealthiest-bnaires-in-the-world\/\">\r\n                            Naguib Sawiris is back among the 500 wealthiest b\u2019naires in the world +                        <\/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\/02\/05\/naguib-sawiris-is-back-among-the-500-wealthiest-bnaires-in-the-world\/\" 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\/02\/05\/naguib-sawiris-is-back-among-the-500-wealthiest-bnaires-in-the-world\/')\">\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\/02\/05\/naguib-sawiris-is-back-among-the-500-wealthiest-bnaires-in-the-world\/\">\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=Naguib Sawiris is back among the 500 wealthiest b\u2019naires in the world +&url=https:\/\/enterpriseam.com\/egypt\/2023\/02\/05\/naguib-sawiris-is-back-among-the-500-wealthiest-bnaires-in-the-world\/\">\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\/02\/05\/naguib-sawiris-is-back-among-the-500-wealthiest-bnaires-in-the-world\/&title=Naguib Sawiris is back among the 500 wealthiest b\u2019naires in the world +\">\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=Naguib+Sawiris+is+back+among+the+500+wealthiest+b%E2%80%99naires+in+the+world+%2B+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F02%2F05%2Fnaguib-sawiris-is-back-among-the-500-wealthiest-bnaires-in-the-world%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\/02\/05\/naguib-sawiris-is-back-among-the-500-wealthiest-bnaires-in-the-world\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/wp-content\/uploads\/2018\/11\/NaguibSawiris-1600px.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"583023\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/05\/naguib-sawiris-is-back-among-the-500-wealthiest-bnaires-in-the-world\/naguibsawiris-1600px-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/internal\/wp-content\/uploads\/2018\/11\/NaguibSawiris-1600px.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"NaguibSawiris-1600px.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/internal\/wp-content\/uploads\/2018\/11\/NaguibSawiris-1600px.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/internal\/wp-content\/uploads\/2018\/11\/NaguibSawiris-1600px.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-583022\" class=\"content-area-description single-story post-583022 post type-post status-publish format-standard has-post-thumbnail hentry category-for-your-commute tag-enterprisepm tag-for-your-commute tag-naguib-sawiris wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/3\/.c08d3c05-65af-4243-b53d-a70b9ca2aac6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Naguib Sawiris moves up the list of 500 wealthiest b\u2019naires:<\/span><span style=\"\"> After briefly dropping off the<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/billionaires\/\" style=\"\">Bloomberg B\u2019naires Index<\/a><\/span><span> in 2021, Egyptian tycoon<\/span><span style=\"font-weight:400;\">Naguib Sawiris made his comeback on the list in 2022, and is currently ranked at 472 on the daily ranking of the world\u2019s 500 richest people. Naguib\u2019s estimated total net worth is currently at USD 5.6 bn, as of today, up USD 502 mn since the beginning of the year. His brother Nassef sits ahead of him on the list, at 309, with an estimated total net worth of USD 7.56 bn, up USD 533 mn since the beginning of the year. <br \/><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Bernault Arnault is at the top of the list, followed by Elon Musk and Jeff Bezos. <\/span><span style=\"\">Arnault \u2014<\/span><span style=\"font-weight:400;\"> France\u2019s richest person and chairman of LVMH, the world\u2019s largest luxury goods maker, sits at the top of the list with a net worth of USD 196 bn, according to the index. Tesla and Twitter chief executive, Musk holds the second spot with a net worth of USD 175 bn, followed by Bezos with a net worth of USD 128 bn. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Dealmakers are getting creative to keep debt low when expanding their portfolios, <\/span><span>whether through new companies, large stake acquisitions, or complete takeovers,<\/span><span> reports the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/a9279ab6-d0f1-4385-a086-425c262a674e?ftcamp=traffic\/partner\/feed_headline\/us_yahoo\/auddev\" style=\"\">Financial Times<\/a><\/span><span style=\"font-weight:400;\">. Private equity firms and buyers are leaving old loans on books, to prevent taking on large debts in a tough lending climate of rising interest rates and limited credit options \u2014 allowing them to take on new investments without straining their wallets.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Portable Capital Structures (PCSs) are becoming a go-to move for savvy corporate buyers<\/span><span> looking to acquire businesses, as they provide a direct liquid investment option that eliminates the need (and headache) of raising additional funds. <\/span><span style=\"font-weight:400;\">PCSs require buyers to have strong debt ratings. The powers-that-be are particularly suspicious of PCSs, knowing the acquisitions might result in them holding debt that becomes riskier than when they first agreed to buy it, according to the FT.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Keeping debt in place during a transfer is a real asset<\/span><span>, an executive told the FT. <\/span><span style=\"font-weight:400;\">It can pay to hang onto this debt as transfer mechanisms like change of control provisions (which force buyers to refinance and repay existing loans) won\u2019t be triggered if dealt with in just the right way. Secondary transfers \u2014 wherein new investors become minority stakeholders without setting off alarm bells \u2014 offer one such solution for those wanting strong outcomes but hold weaker financial profiles.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/for-your-commute\/\">FOR YOUR COMMUTE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/naguib-sawiris\/\">Naguib Sawiris<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"583024 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"583024\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/05\/583024\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-583024\" class=\"content-area-description single-story post-583024 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.palmhillsdevelopments.com\/en-us\/home\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/enterprise.press\/wp-content\/uploads\/2022\/12\/Palm-Hills-The-Crown-web-dec-22.jpg\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"583025\" 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=\"583025\">\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\/02\/05\/catch-the-squid-games-in-real-life\/\">\r\n                            Catch the Squid Games in real life                        <\/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\/02\/05\/catch-the-squid-games-in-real-life\/\" 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\/02\/05\/catch-the-squid-games-in-real-life\/')\">\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\/02\/05\/catch-the-squid-games-in-real-life\/\">\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=Catch the Squid Games in real life&url=https:\/\/enterpriseam.com\/egypt\/2023\/02\/05\/catch-the-squid-games-in-real-life\/\">\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\/02\/05\/catch-the-squid-games-in-real-life\/&title=Catch the Squid Games in real life\">\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=Catch+the+Squid+Games+in+real+life+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F02%2F05%2Fcatch-the-squid-games-in-real-life%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\/02\/05\/catch-the-squid-games-in-real-life\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-583025\" class=\"content-area-description single-story post-583025 post type-post status-publish format-standard hentry category-enterprise-recommends-2 tag-enterprise-recommends tag-enterprisepm tag-on-the-tube-tonight wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/3\/.e2582194-61b1-4f81-b24a-3e3cb7b61aa5.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">? <\/span><span style=\"font-weight:700\">ON THE TUBE TONIGHT-<br \/><\/span><span style=\"font-weight:400;\">(all times CLT)<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Real-life Squid Game 2.0? <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.netflix.com\/eg-en\/title\/81587446\" style=\"\">Physical: 100<\/a><\/span><span style=\"\"> is a<\/span><span style=\"\"> new Survivor-esque reality TV series that brings<\/span><span> together 100 of South Korea\u2019s greatest athletes and celebrities for a series of grueling physical challenges as they fight to become the last one standing and claim a prize of KRW <\/span><span>300<\/span><span> mn (about USD 240k). The show has drawn <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/metro.co.uk\/2023\/01\/27\/physical-100-netflix-competition-compared-to-real-life-squid-game-18175938\/\" style=\"\">comparisons<\/a><\/span><span> to the viral South Korean drama <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.netflix.com\/eg-en\/title\/81040344\" style=\"\">Squid Game<\/a><\/span><span> for its ruthless premise and backbreaking challenges, one of which sees contestants hanging from metal bars on a ceiling until they drop off into the water below. <\/span><span style=\"font-weight:700\">Our two cents:<\/span><span> It's entertaining to watch a diverse group of contestants \u2014 men, women, YouTube stars, K-pop dancers, and Olympic gold medalists \u2014 compete in this fight-to-the-death style. While there\u2019s no ruthless killing a la Squid Game, the tensions run pretty high throughout the hour-long episodes. Episodes are out weekly on Netflix.    <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">This is not to be confused with Netflix\u2019s take on a real-life Squid Game show<\/span><span> \u2014 set to be titled <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/06\/16\/squid-game-will-soon-become-a-reality-tv-show-a-hilarious-irreverent-guide-to-the-world-of-artificial-intelligence-73958\/\" style=\"\">Squid Game: The Challenge<\/a><\/span><span> \u2014 which garnered controversy before it even aired. <\/span><span> Several contestants were <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/variety.com\/2023\/tv\/global\/netflix-squid-game-reality-show-frozen-inhumane-welfare-1235511809\/\" style=\"\">recently reported<\/a><\/span><span style=\"font-weight:400;\"> to have collapsed on set due to what they called \u201cinhumane conditions,\u201d like working long hours in the UK\u2019s freezing weather.<\/span><\/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=\"583032\" 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 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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=\"583033\" 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=\"583033\">\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\/02\/05\/what-the-markets-are-doing-on-5-february-2023\/\">\r\n                            What the markets are doing on 5 February, 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\/02\/05\/what-the-markets-are-doing-on-5-february-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 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2023&url=https:\/\/enterpriseam.com\/egypt\/2023\/02\/05\/what-the-markets-are-doing-on-5-february-2023\/\">\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\/02\/05\/what-the-markets-are-doing-on-5-february-2023\/&title=What the markets are doing on 5 February, 2023\">\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=What+the+markets+are+doing+on+5+February%2C+2023+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F02%2F05%2Fwhat-the-markets-are-doing-on-5-february-2023%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\/02\/05\/what-the-markets-are-doing-on-5-february-2023\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-583033\" class=\"content-area-description single-story post-583033 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<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/3\/.328818da-24dd-40d2-97e1-9102f9f73af7.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The EGX30 rose 0.1% at today\u2019s close<\/span><span style=\"font-weight:400;\"> on turnover of EGP 1.77 bn (2% below the 90-day average). Local investors were net sellers. The index is up 11.4% YTD.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">In the green: <\/span><span>Palm Hills Development<\/span><span style=\"font-weight:400;\"> (+10.3%), GB Auto (+9.2%) and Talaat Moustafa Group (+3.1%).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">In the red: <\/span><span>Taaleem<\/span><span> (-4.1%), Qalaa Holdings (-4.0%) and Ibnsina Pharma (-3.1%).<\/span><\/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<div class=\"alignfull inside-industry vertical-section wide-section wp-block-group issue-section\" id=\"583034\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27470.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly look at the issues, trends, and policies that are shaping Egypt's manufacturing industries.                <\/p>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Sunday in EnterprisePM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/inside-industry\/\">\r\n                            Read Inside Industry                            \r\n                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\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\">INSIDE INDUSTRY<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/inside_industry\/how-will-the-fertilizer-sector-fare-in-2023\/\">  \r\n                            How will the fertilizer sector fare in 2023?<\/a>\r\n                        <\/h3>\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\/inside_industry\/how-will-the-fertilizer-sector-fare-in-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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Despite optimism among fertilizer manufacturers and analysts we\u2019ve spoken to about the sector\u2019s performance, higher gas prices, intensifying competition and continued export restrictions are weighing down on the prospects of another record year.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Global fertilizer prices have dramatically risen since 2021: <\/span><span style=\"font-weight:400;\">Buffeted by the post-pandemic release of demand, rising inflation and sanctions against Russia (the world\u2019s largest exporter of fertilizers), prices hit record highs over the past couple of years. Last April, urea fertilizer prices rose globally to some USD 1.1k per ton before hitting USD 520 per ton by the end of 2022 \u2014 cooling down significantly throughout the year, but still remaining well above the average USD 290 per ton it cost before the pandemic.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">High prices were a boon for local players:<\/span><span style=\"font-weight:400;\"> Manufacturing disruptions, high gas prices in Europe, and the EGP devaluation have given local fertilizer producers overwhelming incentive to boost exports, which currently constitutes about 45-70% of our domestic production. Local fertilizer demand runs somewhere between 2.5-3 mn tons, while our annual production capacity is about 7.5 mn tons, Alia El-Muhailami, co-head of CI Capital research told Enterprise.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Export revenues hit record highs despite weaker volume: <\/span><span style=\"font-weight:400;\">After Egypt partially filled fertilizer supply void Russia left behind during the first 10 months of last year, fertilizer sector players ended 2022 with some USD 3.39 bn in export revenue, up 42% y-o-y from 2021, Export Council for Chemical Industries and Fertilizers head Khaled Aboul Makarem told Enterprise. This came despite a 20% drop in export sales, EFG Vice President of Research Yousef Husseini tells us. Now, chemical and fertilizer industry players are targeting USD 10 bn in collective export revenue this year, after the two sectors hit a record USD 8.63 bn last year, according to Abu Al-Makarem.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The EGP devaluation has been great for producers: <\/span><span style=\"font-weight:400;\">Fertilizer sector shares rose c.76% in 2022 \u2014 outperforming the benchmark EGX30, which ended the year up 21.2% \u2014 thanks mainly to greater export revenues and the EGP devaluation, which allowed fertilizer companies to pay out dividends to shareholders, El-Muhailami tells us. Abu Qir Fertilizers was the sector\u2019s best performing stock, whose price ballooned some 117% last year. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The outlook remains positive for fertilizer stocks: <\/span><span style=\"font-weight:400;\">Fertilizer stocks are expected to maintain strong performance throughout 2023 but will likely sit slightly below 2022 figures on the back of growing global demand and a flurry of recently announced green ammonia projects, according to analysts we spoke to. Analysts also see healthy operating rates, stable levels of production, and strong sales this year compared to 2022, while a weaker EGP could also make export sales more lucrative. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">It\u2019s a good time for expansion in the sector:<\/span><span> The EGP depreciation and geographic proximity to Europe \u2014 where production was already on the decline well before Russia\u2019s invasion of Ukraine \u2014 will continue to support production in places with relatively lower operating costs, El-Muhailami explained. State-owned Abu Qir Fertilizers is spearheading the sector\u2019s largest expansion initiatives with the massive North Abu Qir green ammonia facility, of which it owns some 45%. The bulk of the facility\u2019s production will be geared towards export to EU countries, according to El-Muhailami. State-owned Egyptian Sugar and Integrated Industries Company (ESIIC) is also considering the establishment of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.alborsaanews.com\/2023\/01\/24\/1624755\" style=\"\">an EGP 160 mn fertilizers<\/a><\/span><span style=\"font-weight:400;\"> plant in Nagaa Hammadi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Financing is unlikely to be problematic: <\/span><span>Although banks are <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3HsTzAo\" style=\"\">setting aside greater loan loss provisions<\/a><\/span><span style=\"font-weight:400;\"> for sectors that are at risk of falling behind on loan repayments \u2014 including fertilizers \u2014 it\u2019s unlikely that fertilizer companies (except for the highly indebted Kima) will struggle to finance growth, according to Hosseini. Most fertilizer companies have export revenues that surpass the USD cost of natural gas and sufficient liquidity to bypass taking on more debt in a high interest rate environment, El-Muhailami told us. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Local prices remain challenging obstacles for producers:<\/span><span style=\"font-weight:400;\"> Producers sell between 30-55% of their products locally to farmers at the subsidized rate of EGP 4.5k (some USD 151) per ton \u2014 70% lower than export prices. \u201cThe current supply price for the local market, even after its most recent adjustment, does not cover the cost of production after inflation, higher energy prices, and the cost of transportation and freight,\u201d Chemical Industries Holding Company CEO Emad El Din Mostafa told Enterprise. This comes despite production being more than double domestic demand, while companies are still only restricted to export 45% of their production. Reforming the urea fertilizer subsidy mechanism and adjusting prices could be the biggest opportunity for the sector this year, according to El-Muhailami.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The sharp decline in export prices this year is still a concern for some: <\/span><span style=\"font-weight:400;\">The price of urea fertilizer dipping below USD 550 per ton is raising some concern about the sector\u2019s performance this year, according to El-Muhailami. The dip could be a market response to the looming threat of global recession or due to a sudden rise in exports from China, which is another concern on manufacturers\u2019 minds this year, she explained. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Projections about how higher gas prices will affect the sector vary:<\/span><span> The impact higher natural gas prices (which constitute about 60%of production costs) will have on the fertilizer sector will depend on foreign demand, Abu Al-Makarem told Enterprise. The government <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/09\/14\/nitro-fertilizer-producers-will-now-pay-more-for-gas-81145\/\" style=\"\">last year<\/a><\/span><span style=\"font-weight:400;\"> raised the price at which natural gas is supplied to nitrogen fertilizer facilities, following a new pricing scheme that takes into account international natural gas and fertilizer prices in setting monthly rates, with a minimum of USD 4.5 \/ mmBtu. That decision does not include companies that are supplied natural gas under long-term contracts with listed equivalent prices like Mopco Fertilizers, Alexandria Fertilizers, and Egyptian Fertilizers, which will continue to pay at previously agreed upon rates until their contracts expire, Hosseini told Enterprise. Although the new price scheme has hurt margins, losses were still largely offset by the EGP depreciation, El-Muhailami told us. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Companies need to act fast to maintain competitiveness:<\/span><span> Fertilizer and chemical industries could lose some 4% of their export earnings due to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/24\/how-will-the-eus-incoming-carbon-tariff-impact-local-exporters-94375\/\" style=\"\">new climate restrictions<\/a><\/span><span> being put in place in the EU \u2014 where some 60% of Egyptian fertilizer exports wound up in 2021. The new restrictions, which will require companies to provide clear documentation of the emissions released in the production of inbound goods as soon as 2026, are designed to keep European companies from simply offloading emissions from industrial production to overseas locations and could significantly impact export prospects for carbon intensive industries like fertilizer production in Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Your top industrial development stories for the week:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">Fresh incentives for industrial players? <\/span><span>The government is<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/02\/madboulys-big-presser-steals-the-show-95294\/\" style=\"\">currently reviewing<\/a><\/span><span style=\"font-weight:400;\"> a package of incentives for industry.<\/span><\/li>\n<li><span style=\"font-weight:700\">More golden licenses to come:<\/span><span> The cabinet <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/02\/more-golden-licenses-oil-exploration-on-the-cabinet-agenda-95287\/\" style=\"\">granted four unnamed companies<\/a><\/span><span style=\"font-weight:400;\"> initial approval to obtain golden licenses.<\/span><\/li>\n<li><span style=\"font-weight:700\">Hassan Allam Construction tapped to build Beko factory:<\/span><span> Turkish retailer Beko has <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/02\/hassan-allam-construction-is-building-bekos-first-mideast-factory-here-95299\/\" style=\"\">contracted Hassan Allam Construction<\/a><\/span><span style=\"font-weight:400;\"> to build its USD 100 mn home appliances factory. <\/span><\/li>\n<\/ul>\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\/fertilizers\/\">fertilizers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inside-industry\/\">INSIDE INDUSTRY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"583036\" 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\/02\/05\/583036\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-583036\" class=\"content-area-description single-story post-583036 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> <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">FEBRUARY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26 January-6 February (Thursday-Monday): Cairo International Book Fair, Egypt International Exhibition Center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">5 February (Sunday): The Senate reconvenes.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">11 February (Saturday): Second semester of 2022-2023 academic year begins for public universities.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">12 February (Sunday): The House reconvenes.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>13-15 February (Monday-Wednesday): The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egyps.com\/\" style=\"\">Egypt Petroleum Show (Egyps)<\/a><\/span><span style=\"font-weight:400;\">, Egypt International Exhibition Center, Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">23-27 February (Thursday-Monday): Annual Business Women of Egypt\u2019s Women for Success conference. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MARCH <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">March: 4Q2022 earnings season.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6-9 March (Monday-Thursday): EFG Hermes One-on-One conference, Atlantis, Dubai.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21-22 March (Tuesday-Wednesday): Federal Reserve interest rate meeting. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">23 March (Thursday): First day of Ramadan (TBC). Maghreb will be at 6:08pm CLT.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30 March (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">APRIL <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>April: GAFI<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.alborsaanews.com\/2023\/01\/20\/1623257\" style=\"\">to launch<\/a><\/span><span style=\"font-weight:400;\"> the country\u2019s first integrated electronic platform to facilitate setting up a business.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1 April (Saturday): Deadline for banks to establish sustainability units.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">10-16 April (Monday-Sunday): IMF \/ World Bank Spring Meetings, Marrakesh, Morocco.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">16 April (Sunday): Coptic Easter<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">17 April (Monday): Sham El Nessim. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21 April (Friday): Eid El Fitr (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">25 April (Tuesday): Sinai Liberation Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">27 April (Thursday): National holiday in observance of Sinai Liberation Day (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30 April (Sunday): Deadline for self-employed to register for e-invoicing. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30 April (Sunday): End of Mediterranean, Nile Delta oil + gas exploration tender. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Late April \u2013 15 May: 1Q2023 earnings season.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MAY <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1 May (Monday): Labor Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2-3 May (Tuesday-Wednesday): Federal Reserve interest rate meeting. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">4 May (Thursday): National holiday in observance of Labor Day (TBC). <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4 May (Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ief.org\/events\/8th-ief-igu-ministerial-gas-forum\" style=\"\">IEF-IGU Ministerial Gas Forum<\/a><\/span><span style=\"font-weight:400;\">, Cairo. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">18 May (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20-21 May (Saturday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.eglobexpo.com\/\" style=\"\">eGlob Expo<\/a><\/span><span style=\"font-weight:400;\">, St. Regis Almasa Hotel, Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>22-26 May (Monday-Friday): Egypt <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.afdb.org\/en\/news-and-events\/press-releases\/african-development-bank-group-concludes-annual-meetings-governors-endorse-banks-vision-next-10-years-51974#:~:text=The%20new%20Board%20of%20Governors,from%2022%2D26%20May%202023.\" style=\"\">will host<\/a><\/span><span style=\"font-weight:400;\"> the African Development Bank (AfDB) annual meetings in Sharm El Sheikh.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">7-10 (Wednesday-Saturday): The second edition of Africa Health Excon. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10 June (Saturday): Thanaweya Amma examinations <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/moe.gov.eg\/what-s-on\/news\/dates-for-the-exams\/\" style=\"\">begin<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">13-14 June (Tuesday-Wednesday): Federal Reserve interest rate meeting. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>19-21 June (Monday-Wednesday): Egypt Infrastructure and Water Expo <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/enterprise.press\/wp-content\/uploads\/2022\/09\/Announcement__EGYPT_INFRASTRUCTURE_AND_WATER_EXPO_LAUNCHES_JUNE_2023.pdf\" style=\"\">debuts<\/a><\/span><span style=\"font-weight:400;\"> at the Egypt International Exhibition Center. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">22 June (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">28 June-2 July (Wednesday-Sunday): Eid El Adha (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30 June (Friday): June 30 Revolution Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">JULY <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">18 July (Tuesday): Islamic New Year.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">20 July (Thursday): National holiday in observance of Islamic New Year (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">23 July (Sunday): Revolution Day. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">25-26 July (Tuesday-Wednesday): Federal Reserve interest rate meeting. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">27 July (Thursday): National holiday in observance of Revolution Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Late July-14 August: 2Q2023 earnings season.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">AUGUST <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">3 August (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">SEPTEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">19-20 September (Tuesday-Wednesday): Federal Reserve interest rate meeting. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21 September (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26 September (Tuesday): Prophet Muhammad\u2019s birthday (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">28 September (Thursday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6 October (Friday): Armed Forces Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Late October-14 November: 3Q2023 earnings season.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">31 October - 1 November (Tuesday-Wednesday): Federal Reserve interest rate meeting. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">NOVEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">DECEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">12-13 December (Tuesday-Wednesday): Federal Reserve interest rate meeting. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">EVENTS WITH NO SET DATE <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\">2023: The inauguration of the Grand Egyptian Museum.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2023: Egypt <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/380561820780911\" style=\"\">will host<\/a><\/span><span style=\"font-weight:400;\"> the Asian Infrastructure Investment Bank\u2019s Annual Meeting of the Board of Governors in 2023. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1Q 2023: Adnoc Distribution\u2019s acquisition of 50% of TotalEnergies Egypt to close.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1Q 2023: Egypt + Qatar to launch joint business forum. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1Q 2023: FRA to introduce <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/12\/05\/this-morning-the-enterprise-climate-x-forum-is-happening-tomorrow-its-pmi-today-90236\/\" style=\"\">new rules<\/a><\/span><span style=\"font-weight:400;\"> for short selling.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1Q 2023: Internal trade database to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/hapijournal.com\/?p=212185\" style=\"\">launch<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1Q 2023: The Madbouly government <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/25\/govt-to-decide-on-hotel-privatization-within-two-months-94552\/\" style=\"\">will choose<\/a><\/span><span style=\"font-weight:400;\"> which state-owned hotels will be merged into a new hotels company ahead of an offering to foreign and Gulf investors.<\/span><\/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":583018,"template":"","categories":[],"tags":[],"class_list":["post-583017","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"214e9aa2-d9d2-40ae-a167-beab07a41f44","teaser":"","photo_url":"https:\/\/ent.news\/2023\/3\/3.jpg"},"yoast_head":"<!-- This site is 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