{"id":584092,"date":"2023-03-26T00:00:00","date_gmt":"2023-03-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=584092"},"modified":"2025-12-16T13:46:45","modified_gmt":"2025-12-16T13:46:45","slug":"therapy-at-work","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/therapy-at-work\/","title":{"rendered":"Therapy at work"},"content":{"rendered":"<section id=\"584094\" 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=\"584094\">\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\/03\/26\/this-evening-giza-systems-is-planning-to-acquire-3-4-companies-at-usd-5-10-mn-apiece-by-the-end-of-the-year\/\">\r\n                            THIS EVENING: Giza Systems is planning to acquire 3-4 companies at USD 5-10 mn apiece by the end of the year                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/26\/this-evening-giza-systems-is-planning-to-acquire-3-4-companies-at-usd-5-10-mn-apiece-by-the-end-of-the-year\/\" 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2023\/03\/26\/this-evening-giza-systems-is-planning-to-acquire-3-4-companies-at-usd-5-10-mn-apiece-by-the-end-of-the-year\/&title=THIS EVENING: Giza Systems is planning to acquire 3-4 companies at USD 5-10 mn apiece by the end of the year\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=THIS+EVENING%3A+Giza+Systems+is+planning+to+acquire+3-4+companies+at+USD+5-10+mn+apiece+by+the+end+of+the+year+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F03%2F26%2Fthis-evening-giza-systems-is-planning-to-acquire-3-4-companies-at-usd-5-10-mn-apiece-by-the-end-of-the-year%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\/03\/26\/this-evening-giza-systems-is-planning-to-acquire-3-4-companies-at-usd-5-10-mn-apiece-by-the-end-of-the-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/money-1600px.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"584095\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/26\/this-evening-giza-systems-is-planning-to-acquire-3-4-companies-at-usd-5-10-mn-apiece-by-the-end-of-the-year\/money-1600px-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/money-1600px.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"money-1600px.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/money-1600px.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/money-1600px.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-584094\" class=\"content-area-description single-story post-584094 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-tonight tag-enterprisepm tag-giza-systems 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\/.833366d7-d09b-4913-b9b4-d7e537b33f82.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, friends.<\/span><span style=\"\"> We\u2019re wrapping up what feels like the first real day of work during<\/span><span style=\"font-weight:400;\"> Ramadan \u2014 we hope that all those fasting are beginning to acclimate to the caffeine and nicotine withdrawal.<\/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> <\/span><span style=\"font-weight:700\">Giza Systems plans to acquire 3-4 entities by the end of the year: <\/span><span style=\"\">Giza Systems is <\/span><span>looking to invest between USD 5-10 mn per transaction to acquire three or four companies that have a significant presence in the Saudi market as well as an Egypt-based workforce, company CEO Osama Sorour told <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3TSmjIv\" style=\"\">Al Mal<\/a><\/span><span style=\"font-weight:400;\">. The acquisitions will enable Giza Systems to recruit top talent at a lower cost than in Saudi Arabia, particularly given the recent devaluation of the EGP, Sorour said. <\/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\">Gloomy outlook from IMF\u2019s Georgieva:<\/span><span style=\"\"> The risks to global financial stability are rising, with<\/span><span> \u201cexceptionally high\u201d levels of uncertainty, IMF Managing Director Kristalina Georgieva said at a conference in Beijing earlier today. Although developed economies have faced risks posed by bank collapses in the past couple of weeks with \u201cdecisiveness,\u201d more vigilance is needed to ensure global financial stability, Georgieva said. The IMF boss\u2019 remarks are leading the conversation in the international business press this afternoon, with front-page play in the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/a74f05d7-3894-4ca6-88ae-cdedfa8172df\" style=\"\">Financial Times<\/a><\/span><span>, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/markets\/imf-says-risks-financial-stability-have-increased-calls-vigilance-2023-03-26\/\" style=\"\">Reuters<\/a><\/span><span>, and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cnbc.com\/2023\/03\/26\/imf-risks-to-financial-stability-have-increased-calls-for-vigilance.html\" style=\"\">CNBC<\/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;\"><\/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\">** 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\">The International Finance Corporation (IFC) wants in on the state privatization program:<\/span><span> We <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6e36ef22-39ff-41b5-8d07-5045b9259689\" style=\"\">sat down with<\/a><\/span><span style=\"font-weight:400;\"> IFC Regional VP for Africa S\u00e9rgio Pimenta to discuss his thoughts on the government\u2019s rebooted privatization program, what the World Bank Group\u2019s private-sector finance arm is pitching the Madbouly government, and what else is in the pipeline for the IFC in Egypt.<\/span><\/li>\n<li><span style=\"font-weight:700\">The World Bank <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/55ed1a19-6f3f-4d9a-a744-9e4c3520dc08\" style=\"\">will lend<\/a><\/span><span style=\"font-weight:700\"> Egypt USD 7 bn over the next five years under the Country Partnership Agreement<\/span><span style=\"font-weight:400;\"> to support private-sector job growth, health and education services, and climate measures. <\/span><\/li>\n<li><span style=\"font-weight:700\">The Central Bank of Egypt (CBE) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b95d2004-21e9-43a6-a002-cb9dc58d442e\" style=\"\">will raise interest rates<\/a><\/span><span style=\"font-weight:700\"> by at least 200 bps when it meets on Thursday<\/span><span style=\"font-weight:400;\"> as it tries to put a lid on soaring inflation amid continued pressure on the EGP, according to a poll of analysts we conducted last 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:400;\"><\/p>\n<p class=\"web-image-inner\"><img data-recalc-dims=\"1\" decoding=\"async\" style=\"display: block\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/Inside-Industry-en-WEB-1600x584-v5-03-1.jpg?ssl=1\" 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=\"\"> Industrial expansion plans are being restrained by a shortage in industrial<\/span><span style=\"font-weight:400;\"> land offerings, which has failed to keep pace with skyrocketing demand, creating a parallel market for industry-geared plots rife with inflated prices. <\/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;\">? 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\">Our next holiday is coming up next month \u2014 and it\u2019s going to be a bunch in a row:<\/span><span style=\"\"> Sham<\/span><span style=\"font-weight:400;\"> El Nessim is on Monday, 17 April, followed by Eid El Fitr, which is expected to land on or around Friday, 21 April. The following Tuesday, 25 April is Sinai Liberation Day, for which we\u2019ll likely have a day off on Thursday, 27 April. <\/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\">PSA- Need funding for a green project? You can now apply to the second round of<\/span><span style=\"font-weight:700\"> the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/www.sgg.eg\/\" style=\"\">Smart Green Projects Initiative<\/a><\/span><span style=\"font-weight:700\"> until the end of May<\/span><span>, according to a Planning Ministry <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/MPEDEGYPT\/posts\/pfbid0375YBtTRtbVg6GATmMeemsRG7zf8o8xkL5fvcKmiMASVxzpqHtrnrJ3xfRuzHKxzml\" style=\"\">statement<\/a><\/span><span>. Eligible projects must use technology solutions to address environmental issues, present evidence of feasibility or innovation, and provide a written acknowledgement that no awards have been received during the initiative\u2019s first round, among other requirements. You can view the full list of criteria <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.sgg.eg\/?fbclid=IwAR1GjyqVHMFF4wPCgoMXQAaYMnNHXsTXj6sA_Prw-7XUrSRT_1LVBMfDi4Q#Conditions\" style=\"\">here<\/a><\/span><span> and apply <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.sgg.eg\/Home\/SignUp_EgyGreenInnovation\" style=\"\">here<\/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:700\">\u2600\ufe0f <\/span><span style=\"font-weight:700\">TOMORROW\u2019S WEATHER- <\/span><span style=\"\">It\u2019s going to be just a couple of degrees warmer tomorrow, with<\/span><span> the mercury set to peak at 25<\/span><span style=\"font-weight:400;\">\u00b0C. The nighttime low is expected to be 13\u00b0C, our favorite weather app tells us. <\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/giza-systems\/\">Giza Systems<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-tonight\/\">WHAT WE\u2019RE TRACKING TONIGHT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"584096 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            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src=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/Mashreq-15feb2023-1600-x-768.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"584097\" 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=\"584097\">\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\/03\/26\/move-aside-bonuses-and-giveaways-in-house-therapy-is-the-modern-day-office-perk-hollywood-wants-more-horror\/\">\r\n                            Move aside, bonuses and giveaways: In-house therapy is the modern-day office perk + Hollywood wants more horror                        <\/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\/03\/26\/move-aside-bonuses-and-giveaways-in-house-therapy-is-the-modern-day-office-perk-hollywood-wants-more-horror\/\" target=\"_blank\">\n                    Open in new tab  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class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/26\/move-aside-bonuses-and-giveaways-in-house-therapy-is-the-modern-day-office-perk-hollywood-wants-more-horror\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/yawn-conversation1600px.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"584098\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/26\/move-aside-bonuses-and-giveaways-in-house-therapy-is-the-modern-day-office-perk-hollywood-wants-more-horror\/yawn-conversation1600px-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/yawn-conversation1600px.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"yawn-conversation1600px.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/yawn-conversation1600px.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/yawn-conversation1600px.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-584097\" class=\"content-area-description single-story post-584097 post type-post status-publish format-standard has-post-thumbnail hentry category-for-your-commute tag-enterprisepm tag-film tag-for-your-commute tag-office-life 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\/.ec4093e3-8556-4fe1-8f4c-f1c663f1c9dc.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\">Modern office perks: In-house therapy.<\/span><span style=\"\"> Several large firms in the law and banking worlds<\/span><span style=\"\"> have begun offering in-house therapy to help employees navigate stress stemming from work, home, and health issues, rather than relying on the interpersonal relationships these employees have with their managers, the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/adf2d395-b100-403a-8653-ae48fb278be1\" style=\"\">Financial Times<\/a><\/span><span style=\"\"> reports.<\/span><span style=\"\"> Large law firms Hogan Lovells, Linklaters, and bankers JPMorgan Chase and Goldman Sachs have made therapists and counselors available in-office and remotely \u2014 giving the employees a sense of support and some relief to managers who are not properly trained to handle such matters. By 2022, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.businessgrouphealth.org\/who-we-are\/newsroom\/press-releases\/2022-fidelity-survey\" style=\"\">30% of US companies were ready to offer in-house therapy<\/a><\/span><span style=\"\">. <\/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 not exactly a selfless good deed \u2014 and there are some questions about conflict of<\/span><span style=\"font-weight:700\"> interest: <\/span><span style=\"font-weight:400;\">Therapy has provided companies with feelers to gauge problems within the establishment, without breaching confidentiality. By doing so, they are able to uncover overarching problems from several sessions to take back to company seniors. In-house therapy pioneer (who have been offering therapy since the 70s) Bank of England\u2019s resident psychotherapist and senior staff counselor explains that she and her team are \u201cfully immersed in the culture and environment\u201d that the employees are involved in and are able to give more insightful and effective help with that knowledge. However, some employees have reported finding difficulty being transparent with their therapist, who also sees their line manager, causing concerns about the confidentiality of these services. <\/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\">A penchant for horror:<\/span><span style=\"\"> Hollywood studios are pushing for more horror movies to hit theaters<\/span><span> as viewers\u2019 appetite for the sinister and macabre seems to be growing, according to the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wsj.com\/articles\/horror-movie-boom-smile-nope-m3gan-host-barbarian-4e44a0d1?mod=hp_featst_pos4\" style=\"\">Wall Street Journal<\/a><\/span><span style=\"font-weight:400;\">. In 2022 alone, spooky movies yielded a whopping USD 676 mn in the US alone \u2014 9% of total box office sales, the article reports.<\/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 movies don\u2019t cost much to make: <\/span><span style=\"\">Huge bottomlines from low-budget features are<\/span><span> prompting more industry execs to lean towards the genre. <\/span><span>Blumhouse Productions\u2019 <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.imdb.com\/title\/tt8760708\/?ref_=ttfc_fc_tt\" style=\"\">M3gan<\/a><\/span><span>,<\/span><span> for instance, grossed USD 175 mn since its release in January in the US. Psychological thriller <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.imdb.com\/title\/tt15474916\/\" style=\"\">Smile<\/a><\/span><span style=\"font-weight:400;\"> \u2014 which only cost USD 17 mn to make \u2014 earned USD 217 mn.<\/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\">But industry leaders know this success is fickle<\/span><span style=\"\">,<\/span><span style=\"\"> as the genre has gone through many<\/span><span style=\"font-weight:400;\"> \u201cboom and bust\u201d cycles with audiences typically losing interest when horror movies feel rushed and commercial with tired themes, redundant characters, and unsophisticated, predictable writing.<\/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\">So the genre is evolving: <\/span><span style=\"\">With more elaborate plotlines, better character development, and<\/span><span> even composition \u2014 with female leads in movies like <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.imdb.com\/title\/tt15791034\/?ref_=fn_al_tt_1\" style=\"\">Barbarian<\/a><\/span><span style=\"font-weight:400;\"> finally being portrayed as more than hapless, vapid victims \u2014 good horror movies are giving audiences what they crave. The genre\u2019s momentum is more likely to stay the course when the movies are written intelligently because viewers expect it: Unlike the 1980s slashers, movie aficionados expect more today, the WSJ quotes Warner Bros co-chair Mike De Luca as saying \u2014 particularly if they\u2019re going to plan a trip to the theater.<\/span><\/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\/film\/\">film<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/for-your-commute\/\">FOR YOUR COMMUTE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/office-life\/\">office life<\/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=\"584099 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=\"584099\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/26\/584099\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-584099\" class=\"content-area-description single-story post-584099 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\/ent.news\/2022\/12\/Palm-Hills-The-Crown-web-dec-22.jpg?ssl=1\"><\/a><\/span><\/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=\"584100\" 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=\"584100\">\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\/03\/26\/dive-into-one-of-the-biggest-cybersecurity-scandals-in-history\/\">\r\n                            Dive into one of the biggest cybersecurity scandals in history                        <\/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\/03\/26\/dive-into-one-of-the-biggest-cybersecurity-scandals-in-history\/\" 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 two-part documentary developed by PBS is a well-crafted and informative deep dive into the controversial spyware known as <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2021\/07\/25\/human-rights-regional-politics-dominated-eid-week-47831\/\" style=\"\">Pegasus<\/a><\/span><span>. The program was developed in 2011 by Israeli cyber-intelligence company NSO Group and was discovered in 2016 when an Arab activist <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/citizenlab.ca\/2016\/08\/million-dollar-dissident-iphone-zero-day-nso-group-uae\/\" style=\"\">investigated<\/a><\/span><span> a suspicious link he was sent. The spyware has maliciously advanced since then and poses security risks previously only dreamt of. A must-watch for anyone interested in cybersecurity, digital privacy, or the intersection of technology and politics, the film features interviews with experts, journalists, and activists who have been investigating its use by governments around the world.<\/span><span>The documentary is available on <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/tv.apple.com\/us\/show\/global-spyware-scandal-exposing-pegasus\/umc.cmc.4nkgkwgbbud1msefi98sfvbut\" style=\"\">Apple TV<\/a><\/span><span> for USD 2.99 per episode, and on <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.amazon.com\/Global-Spyware-Scandal-Exposing-Pegasus\/dp\/B0B8PTW6HP\" style=\"\">Prime Video<\/a><\/span><span> at USD 2.99 for each individual episode, or USD 3.99 for both \u2014 but they\u2019re only available to accounts created in the US.<\/span><\/p>\n\t<\/div><!-- .entry-content 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             <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-zcv4uvb\" data-v=\"4\" data-block-id=\"zcv4uvb\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-zcv4uvb-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-zcv4uvb-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 stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" 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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=\"584108\" 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=\"584108\">\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\/03\/26\/what-the-markets-are-doing-on-26-march-2023\/\">\r\n                            What the markets are doing on 26 March, 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\/03\/26\/what-the-markets-are-doing-on-26-march-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(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2023\/03\/26\/what-the-markets-are-doing-on-26-march-2023\/')\">\n                    Copy Link                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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2023\/03\/26\/what-the-markets-are-doing-on-26-march-2023\/&title=What the markets are doing on 26 March, 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+26+March%2C+2023+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F03%2F26%2Fwhat-the-markets-are-doing-on-26-march-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\/03\/26\/what-the-markets-are-doing-on-26-march-2023\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-584108\" class=\"content-area-description single-story post-584108 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\/.9f3b5156-57d3-4a9f-9e81-8c62a6d09a4f.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 2.3% at today\u2019s close<\/span><span style=\"font-weight:400;\"> on turnover of EGP 1.69 bn (18.9% below the 90-day average). Foreign investors were net sellers. The index is up 9.5% 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>Sidi Kerir Petrochemicals<\/span><span style=\"font-weight:400;\"> (+15.1%), Heliopolis Housing (+13.2%) and AMOC (+9.8%).<\/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>CIRA Education<\/span><span> (-1.7%), Ezz Steel (-1.7%) and Rameda Pharma (-1.0%).<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/go-with-the-flow\/\">Go with the Flow<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull inside-industry vertical-section wide-section wp-block-group issue-section\" id=\"584109\">\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                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27477.svg\" alt=\"\"><\/figure>\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\/new-land-allocations-system-could-help-bring-in-more-industrial-investment\/\">  \r\n                            New land allocations system could help bring in more industrial investment<\/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\/new-land-allocations-system-could-help-bring-in-more-industrial-investment\/\" 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\/inside_industry\/new-land-allocations-system-could-help-bring-in-more-industrial-investment\/')\">\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\/inside_industry\/new-land-allocations-system-could-help-bring-in-more-industrial-investment\/\">\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=New land allocations system could help bring in more industrial investment&url=https:\/\/enterpriseam.com\/egypt\/inside_industry\/new-land-allocations-system-could-help-bring-in-more-industrial-investment\/\">\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\/inside_industry\/new-land-allocations-system-could-help-bring-in-more-industrial-investment\/&title=New land allocations system could help bring in more industrial investment\">\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=New+land+allocations+system+could+help+bring+in+more+industrial+investment+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Finside_industry%2Fnew-land-allocations-system-could-help-bring-in-more-industrial-investment%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>                    <\/div>\r\n\r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/inside_industry\/new-land-allocations-system-could-help-bring-in-more-industrial-investment\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/Emissions-Nile-River-Factory-1600px.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"584110\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/inside_industry\/new-land-allocations-system-could-help-bring-in-more-industrial-investment\/emissions-nile-river-factory-1600px-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/Emissions-Nile-River-Factory-1600px.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"Emissions-Nile-River-Factory-1600px.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/Emissions-Nile-River-Factory-1600px.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/Emissions-Nile-River-Factory-1600px.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-584109\" class=\"content-area-description post-584109 inside_industry type-inside_industry status-publish has-post-thumbnail hentry category-inside-industry tag-enterprise-inside-industry tag-enterprisepm tag-inside-industry tag-manufacturing tag-new-urban-communities-authority wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<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\">Could we be seeing a new industrial land allocation system put in motion?<\/span><span style=\"\"> Industrial<\/span><span style=\"font-weight:400;\"> expansion plans are being restrained by a shortage in industrial land offerings, which has failed to keep pace with skyrocketing demand, creating a parallel market for industry-geared plots rife with inflated prices, industry insiders tell Enterprise. A number of new schemes are being teased out to address the problem, but just how effective they are remains to be seen.<\/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 problem has been a few years in the making: <\/span><span style=\"font-weight:400;\">The current turbulence in the market goes back to a couple of years ago, when the government started allocating more land for industrial activity and issued more permits for their sale and development. But most of the industrial land the government put up for grabs remained seriously underutilized. At the time, the government estimated that, out of the some 30 mn sqm it had offered, only 3 mn sqm were being put to use.<\/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\">But a new system could offer a solution:<\/span><span> The government has since crafted a new online system through which industrial land developers can purchase, develop, and resell land to industry, instead of the previous system in which land was made directly available to industrial players. The New Urban Communities Authority (NUCA) agreed <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3GfUrIX\" style=\"\">earlier this month<\/a><\/span><span style=\"font-weight:400;\"> to allocate some 12 mn sq m in four cities (New October, New Fayoum, New Alamein, and New Aswan) to several industrial developers who placed bids through the authority\u2019s online portal. <\/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 guidelines for these new offerings:<\/span><span style=\"font-weight:400;\"> Land plots will be rolled out to developers in two phases with a six-month grace period starting from the day industrial developers are transferred the rights to the land and receive final approval from the Trade Ministry. Developers will have a total of five years to complete both phases of the project and six months from the date on which a land sale has been made to complete the first phase. Projects will only be eligible to enter into their second phase once 35% of building construction and 100% of facility construction has been completed. These facilities will also be required to remain compliant with the Unified Building Act. If any development beyond the scope of the project\u2019s initial plan is made, payments would need to be arranged after technical approvals have been received.<\/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\">While the system might address the under-supply issue, it\u2019ll likely drive up costs.<\/span><span style=\"font-weight:400;\"> Since private industrial developers will now be responsible for building the necessary infrastructure and otherwise making these plots more attractive to investors, they will likely set higher prices than if these same plots were directly offered under an usufruct or long term repayment scheme by the government, SMEs Union head Alaa El Saqty 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\">Industrial land prices are already on the rise: <\/span><span style=\"font-weight:400;\">In NUCA\u2019s initial land offerings, prices were at EGP 1.2k per sqm. Now, they\u2019re about EGP 1.5-1.6k per sqm of industrial land. With industrial developers now in charge of sales, prices are expected to go over EGP 2k per sqm, El Saqty tells us. These increases would surely become an obstacle to industrial growth, Mohamed El Mohandes, head of the engineering industries division at the Federation of Egyptian Industries (FEI) explains.<\/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\">These changes could alter the way many companies operate: <\/span><span style=\"font-weight:400;\">Most companies used to purchase land at low prices and dedicate most of their CAPEX to building up facilities and installing new technologies, El Mohandes explained. Now, financing land purchases will consume a larger portion of companies\u2019 CAPEX spending. The alternative scenario is one in which unaffiliated industrial lands are put on offer, at the cost of slowing down implementation schedules.<\/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\">Still, demand for industrial land outpaces supply by a long shot: <\/span><span style=\"font-weight:400;\">According to several insiders we\u2019ve spoken to, demand for industrial land is growing, with thousands of requests for extremely limited spots on only a few areas of industrial land. Some developers have taken advantage of this asymmetry and jacked up their prices, our sources say.<\/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\">There are a few locations where demand is especially high: <\/span><span style=\"font-weight:400;\">\u201cWe want to offer more land in the industrial areas around Cairo from October to Beni Suef, since we\u2019re seeing a large number of requests at competitive prices,\u201d El Saqty tells us. It is necessary to offer land for industrial expansion in existing industrial zones at reasonable prices, Sayed El Barhamtoshy, a member of the Tenth of Ramadan Investors Association tells 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\">There are now three ways for industrial players to get their hands on land: <\/span><span>There\u2019s<\/span><span>full ownership, usufruct rights and long term repayment plans, Mohamed Abdel Karim, head of the Industrial Development Authority (IDA), tells us. Prime Minister Moustafa Madbouly late last year said that industrial land was made available and that usufruct and ownership rights were approved for all manufacturers. Land prices were also said to be regularly announced through a centralized system to ensure no price gouging was taking place. The government <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/08\/15\/heres-what-qualifies-as-a-strategic-project-77881\/\" style=\"\">last year<\/a><\/span><span style=\"font-weight:400;\"> also approved measures meant to make it easier for industrial developers to buy land in a per-meter pricing mechanism that takes into account the cost of utilities.<\/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\">Incentives under the new online land reservations system: <\/span><span style=\"font-weight:400;\">So far, over 1k plots of land were offered with incentives like fee reductions for new requests and doing away with the requirement that companies provide letters of guarantee from banks along with their applications, to encourage more investment.<\/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\">And there are some other schemes in the works: <\/span><span style=\"font-weight:400;\">El Saqty told us that he has proposed the government rescind the legal provision that bars industrial developers from utilizing or selling unused portions of their land allotments for projects beyond the scope of their licenses. The plan, which Madbouly has granted initial approval and is pending further study, could avail some 10 mn sqm of industrial land, El Saqty claims. Setting up an industrial land bank that manages the process of offering lands to investors and the payment mechanism is another proposal put forward by the Investors Union to conflict between various entities. <\/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\">Just a few more steps<\/span><span>: Although the government has been taking industrial sector demands into account, faster decision-making and implementation will be crucial for these plans to succeed, El Saqty and El Mohandes tell 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: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 + Cotherm to inaugurate EUR 8 mn factory:<\/span><span> Egyptian home appliances maker <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/fresh.com.eg\/en\" style=\"\">Fresh<\/a><\/span><span> and French firm <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cotherm.com\/\" style=\"\">Cotherm<\/a><\/span><span> inaugurated their <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/770cc89d-1886-402e-81e0-f51ff3769ded\" style=\"\">EUR 8 mn heater component factory<\/a><\/span><span style=\"font-weight:400;\"> inTenth of Ramadan last week.<\/span><\/li>\n<li><span style=\"font-weight:700\">Qalaa Holdings\u2019 dairy company Dina Farms plans to invest around <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/770cc89d-1886-402e-81e0-f51ff3769ded\" style=\"\">EGP 380 mn this year<\/a><\/span><span style=\"font-weight:400;\"> to increase its production capacity. The company is also looking to add to its land portfolio and is holding discussions with the government and a private-sector firm to purchase two plots.<\/span><\/li>\n<\/ul>\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\/inside-industry\/\">INSIDE INDUSTRY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/new-urban-communities-authority\/\">New Urban Communities Authority<\/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=\"584111\" 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\/03\/26\/584111\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-584111\" class=\"content-area-description single-story post-584111 post type-post status-publish format-standard hentry category-the-enterprise-entertainment-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> THE ENTERPRISE ENTERTAINMENT CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<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>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:700\">APRIL <\/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;\">21-26 April (Friday-Wednesday): LaLiga Egypt Football Camp, Xanadu Hotel, Makadi Bay, Hurghada. <\/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 April (Saturday): 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: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>1 May (Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ticketsmarche.com\/prebooking\/buy-tickets-backstreet-boys-dna-world-tour-2023-prebooking-01-may-2023-zed-east-by-ora-new-cairo-10540.html?cdBusinessPartner=FB&fbclid=IwAR36Mo37QnFX4UwgJqR0vxxuZsaz-GpQCs471QM2U7XkW2kO6FFEL1Y58b4\" style=\"\">Backstreet Boys<\/a><\/span><span style=\"font-weight:400;\"> at 7pm, ZED East, New 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;\">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 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>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;\">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;\">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: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;\">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>6 October (Friday): Armed Forces Day.<\/p>\n<p>13 October- 20 October (Friday-Friday): The sixth edition of El Gouna Film Festival (GFF).<\/span><\/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":584093,"template":"","categories":[],"tags":[],"class_list":["post-584092","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"02b24db9-4b02-42fb-86c3-a366cd04c027","teaser":"","photo_url":"https:\/\/ent.news\/2023\/3\/436.jpeg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO 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