{"id":587373,"date":"2023-05-25T00:00:00","date_gmt":"2023-05-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=587373"},"modified":"2025-12-16T14:57:20","modified_gmt":"2025-12-16T14:57:20","slug":"ai-v-ip-showdown","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/ai-v-ip-showdown\/","title":{"rendered":"AI v IP showdown"},"content":{"rendered":"<section id=\"587375\" 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=\"587375\">\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\/05\/25\/this-evening-el-sisi-inaugurates-our-first-quartz-industrial-complex-efg-hermes-holding-is-now-efg-holding\/\">\r\n                            THIS EVENING: El Sisi inaugurates our first quartz industrial complex + EFG Hermes Holding is now EFG Holding                        <\/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\/05\/25\/this-evening-el-sisi-inaugurates-our-first-quartz-industrial-complex-efg-hermes-holding-is-now-efg-holding\/\" 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\/05\/25\/this-evening-el-sisi-inaugurates-our-first-quartz-industrial-complex-efg-hermes-holding-is-now-efg-holding\/')\">\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\/05\/25\/this-evening-el-sisi-inaugurates-our-first-quartz-industrial-complex-efg-hermes-holding-is-now-efg-holding\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=THIS EVENING: El Sisi inaugurates our first quartz industrial complex + EFG Hermes Holding is now EFG Holding&url=https:\/\/enterpriseam.com\/egypt\/2023\/05\/25\/this-evening-el-sisi-inaugurates-our-first-quartz-industrial-complex-efg-hermes-holding-is-now-efg-holding\/\">\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\/05\/25\/this-evening-el-sisi-inaugurates-our-first-quartz-industrial-complex-efg-hermes-holding-is-now-efg-holding\/&title=THIS EVENING: El Sisi inaugurates our first quartz industrial complex + EFG Hermes Holding is now EFG Holding\">\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+El+Sisi+inaugurates+our+first+quartz+industrial+complex+%2B+EFG+Hermes+Holding+is+now+EFG+Holding+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F05%2F25%2Fthis-evening-el-sisi-inaugurates-our-first-quartz-industrial-complex-efg-hermes-holding-is-now-efg-holding%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\/05\/25\/this-evening-el-sisi-inaugurates-our-first-quartz-industrial-complex-efg-hermes-holding-is-now-efg-holding\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/118.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"587376\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/25\/this-evening-el-sisi-inaugurates-our-first-quartz-industrial-complex-efg-hermes-holding-is-now-efg-holding\/118-jpg-19\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/118.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"118.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/118.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/118.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-587375\" class=\"content-area-description single-story post-587375 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-tonight tag-efg-holding tag-enterprisepm tag-suez-canal 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\/5\/.ad363633-e244-4150-8cf7-3a83a2de636f.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\">Rejoice, friends: It\u2019s finally the weekend.<\/span><span style=\"\"> We\u2019re wrapping up this week with a stacked issue<\/span><span> to keep you entertained as you wind down. <\/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\">FRET NOT- Suez Canal traffic returns to normal after a stranded ship was successfully refloated:<\/span><span> Three tugboats refloated a large vessel that had been stranded for several hours in the Suez Canal earlier today according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.suezcanal.gov.eg\/Arabic\/MediaCenter\/News\/Pages\/sca_25-05-2023.aspx\" style=\"\">Suez Canal Authority statement<\/a><\/span><span>. The incident began at around 5:30am CLT and the vessel was refloated three and a half hours later, with traffic fully restored by 11am, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/ship-grounded-egypts-suez-canal-refloat-attempts-ongoing-leth-shipping-agencies-2023-05-25\/\" style=\"\">Reuters<\/a><\/span><span>reports. The ship was identified as Xin Hai Tong 23, a 190m bulk carrier sailing under the Hong Kong flag, by shipping agent <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/lethagencies.com\/\" style=\"\">Leth Agencies<\/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;\">THE BIG STORIES 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\">#1- Our first quartz production facility is up and running:<\/span><span style=\"\"> President Abdel Fattah El Sisi<\/span><span> inaugurated today a quartz industrial complex in Ain Sokhna, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02StgjWqwYDEUTH9vVPM6CQnXuBsWexk29CuzYYAzicCHk6NYqmSrCkbHB914nmp2xl\" style=\"\">Ittihadiya said<\/a><\/span><span style=\"font-weight:400;\">. The complex is the first of its kind in Egypt, the Middle East, and Africa. <\/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\">#2- EFG Hermes Holding is now EFG Holding:<\/span><span style=\"\"> EFG Hermes Holding has rebranded to EFG<\/span><span> Holding, after the company\u2019s shareholders signed off on the change during yesterday\u2019s annual general meeting, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/5\/1426.pdf\" style=\"\">a statement (pdf)<\/a><\/span><span style=\"font-weight:400;\">. The rebranding is a reflection of the group\u2019s growth and expansion with \u201cthree distinct verticals: EFG Hermes the investment bank, EFG Finance the non-bank financial institutions (NBFI) platform, and aiBANK the commercial bank.\u201d EFG Holding will not change its management structure or day-to-day operations on the back of the rebrand, the statement notes. <\/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\">Tech stocks are having a field day:<\/span><span style=\"\"> Silicon Valley chipmaker Nvidia\u2019s shares soared 25% to<\/span><span> hit an all-time high in pre-market trading after the company forecasted USD 11 bn in sales in the second quarter of its fiscal year. The rally in Nvidia\u2019s shares positions the company to become the first chipmaker to hit a valuation of USD 1 tn, and has also spurred a rise in Dutch firm ASML Holding and Taiwan\u2019s TSMC. The story is leading the conversation in the international business press this afternoon: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cnbc.com\/2023\/05\/25\/tsmc-asml-two-critical-chip-firms-rally-after-nvidias-earnings.html\" style=\"\">CNBC<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/technology\/nvidia-close-becoming-first-trillion-dollar-chip-firm-after-stellar-forecast-2023-05-25\/\" style=\"\">Reuters<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wsj.com\/livecoverage\/stock-market-today-dow-jones-05-25-2023?mod=hp_lead_pos4\" style=\"\">Wall Street Journal<\/a><\/span><span> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/b074781a-683f-4b20-8c70-33bb71399d94\" style=\"\">Financial Times<\/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: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 2021 tax hikes are back:<\/span><span> A raft of tax, duty and development <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d50d35d1-3aeb-45a0-bd26-02a55934eb07\" style=\"\">fee hikes that have been on the legislative agenda for 18 months were given the OK<\/a><\/span><span style=\"font-weight:400;\"> by the House Planning and Budgeting Committee yesterday after the government amended some of the changes.<\/span><\/li>\n<li><span style=\"font-weight:700\">A Chinese consortium <\/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\/fb2abe6e-1453-4bcc-af1c-329445278b8c\" style=\"\">has offered to establish a USD 300 mn ironworks project<\/a><\/span><span> in the Suez Canal Economic Zone.<\/span><\/li>\n<li><span style=\"font-weight:700\">Ministers <\/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\/3ca84bbc-abd5-4f40-baff-fe7a89292f34\" style=\"\">approved relaxing rules on freezones<\/a><\/span><span style=\"font-weight:400;\"> under government efforts to attract more private-sector investment. Amendments to the executive regulations of the 2017 Investment Act would allow the cabinet to exempt companies from having to comply with most of the rules currently in place for setting up freezones.<br \/><\/span><\/li>\n<\/ul>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>     <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">COME WORK FOR OUR ADVISORY ARM-<\/span><span style=\"font-weight:400;\">Enterprise Advisory (formerly known as Inktank Communications) is looking for smart, talented people to help us tell the stories of exciting companies. Enterprise Advisory is the region\u2019s leading investor relations advisory company and works on investor and strategic communications issues that take you deep inside the c-suite. Our clients are in Egypt, Saudi Arabia, the UAE and beyond. Egyptian and foreign nationals alike are welcome to apply.<\/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 running a four-month training program for fresh grads and career switchers <\/span><span style=\"font-weight:400;\">and will hire every successful grad of the program. <\/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\">Apply directly to jobs@enterprisemea.com and mention \u201cadvisory development<\/span><span style=\"font-weight:700\"> program\u201d<\/span><span style=\"font-weight:400;\"> in your subject line.<\/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\">\u26c5 <\/span><span style=\"font-weight:700\">TOMORROW\u2019S WEATHER- <\/span><span style=\"\">Another warm, albeit cloudy, day is expected tomorrow with a<\/span><span> high of 35<\/span><span style=\"font-weight:400;\">\u00b0C and low of 28\u00b0C with a 15% chance of rain, according to our favorite weather app. It\u2019s less likely to rain on Saturday, as temperatures will jump to 37\u00b0C but the sky will remain overcast until Sunday morning. <\/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\/efg-holding\/\">EFG Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal\/\">Suez Canal<\/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=\"587377 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=\"587377\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/25\/587377\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-587377\" class=\"content-area-description single-story post-587377 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\/enterprise.press\/wp-content\/uploads\/2023\/02\/Mashreq-15feb2023-1600-x-768.jpg\"><\/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=\"587378\" 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=\"587378\">\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\/05\/25\/another-day-another-ai-v-ip-rights-battle-this-time-over-umm-kolthoums-musical-catalog\/\">\r\n                            Another day, another AI v IP rights battle \u2014 this time over Umm Kolthoum\u2019s musical catalog                        <\/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\/05\/25\/another-day-another-ai-v-ip-rights-battle-this-time-over-umm-kolthoums-musical-catalog\/\" 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\/05\/25\/another-day-another-ai-v-ip-rights-battle-this-time-over-umm-kolthoums-musical-catalog\/')\">\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\/05\/25\/another-day-another-ai-v-ip-rights-battle-this-time-over-umm-kolthoums-musical-catalog\/\">\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=Another day, another AI v IP rights battle \u2014 this time over Umm Kolthoum\u2019s musical catalog&url=https:\/\/enterpriseam.com\/egypt\/2023\/05\/25\/another-day-another-ai-v-ip-rights-battle-this-time-over-umm-kolthoums-musical-catalog\/\">\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\/05\/25\/another-day-another-ai-v-ip-rights-battle-this-time-over-umm-kolthoums-musical-catalog\/&title=Another day, another AI v IP rights battle \u2014 this time over Umm Kolthoum\u2019s musical catalog\">\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=Another+day%2C+another+AI+v+IP+rights+battle+%E2%80%94+this+time+over+Umm+Kolthoum%E2%80%99s+musical+catalog+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F05%2F25%2Fanother-day-another-ai-v-ip-rights-battle-this-time-over-umm-kolthoums-musical-catalog%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\/05\/25\/another-day-another-ai-v-ip-rights-battle-this-time-over-umm-kolthoums-musical-catalog\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/music-record-player-1600px.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"587379\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/25\/another-day-another-ai-v-ip-rights-battle-this-time-over-umm-kolthoums-musical-catalog\/music-record-player-1600px-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/music-record-player-1600px.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"music-record-player-1600px.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/music-record-player-1600px.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/music-record-player-1600px.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-587378\" class=\"content-area-description single-story post-587378 post type-post status-publish format-standard has-post-thumbnail hentry category-for-your-commute tag-ai tag-enterprisepm tag-for-your-commute tag-music 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\/5\/.0ba385a0-aa64-42da-b183-dd2e66232411.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\">Artificial intelligence and intellectual property (IP) rights collide <\/span><span style=\"font-weight:700\">over<\/span><span style=\"font-weight:700\"> \u201ccultural revival\u201d project:<\/span><span> Music producer Mohsen Gaber and composer Amr Mostafa are in a dispute over a song the latter wrote featuring Umm Kolthoum, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/arabic.cnn.com\/middle-east\/article\/2023\/05\/23\/artificial-intelligence-controversy-rights-songs-egypt\" style=\"\">CNN Arabic<\/a><\/span><span> reported. The controversy emerged after Mostafa used the late legendary singer\u2019s voice via AI softwares in a song he wrote and later shared in a social media <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.instagram.com\/p\/Csju1o_PPGB\/?hl=en\" style=\"\">post<\/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\">A violation of company rights:<\/span><span> Music producer and Mazzika Group owner Gaber accused Mostafa of violating his <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/mazzikagroup.com\/all-labels\/\" style=\"\">company\u2019s rights<\/a><\/span><span style=\"font-weight:400;\"> as the owners of Umm Kolthoum\u2019s musical catalog \u2014 which Mazzika dubs its \u201cactual treasure.\u201d Mostafa responded by saying the project is not about a specific artist per se but a general concept of bringing back paramount cultural symbols to the fore.<\/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\">Another day, another intellectual property rights debacle:<\/span><span> Regardless of the outcome of the IP rights battle, it\u2019s becoming increasingly evident that <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6ad45474-0c4b-489d-9c73-9f41328b472f\" style=\"\">AI is changing the artistic and creative world<\/a><\/span><span>, with more<\/span><span> debates cropping up about <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/49c3ce94-9f9e-4604-96e8-0012a46e1a07\" style=\"\">IP rights in the film industry<\/a><\/span><span> being upended by AI, as well as in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5cda7767-33cf-4237-a6a3-4d08f96bd197\" style=\"\">the realm of photography<\/a><\/span><span>. As new questions and ethical concerns emerge, Egyptian ministers approved a draft bill that would establish the Egyptian <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eb6547fb-12b6-4c95-9912-3e914bb5a70f\" style=\"\">Intellectual Property Authority<\/a><\/span><span> last November. <\/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\/ai\/\">AI<\/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\/music\/\">music<\/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=\"587380 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=\"587380\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/25\/587380\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-587380\" class=\"content-area-description single-story post-587380 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\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=\"587381\" 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=\"587381\">\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\/05\/25\/restaurants-on-the-edge-an-aesthetically-pleasing-journey-of-revamping-eateries-in-trouble\/\">\r\n                            Restaurants on the Edge: An aesthetically pleasing journey of revamping eateries in trouble                        <\/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\/05\/25\/restaurants-on-the-edge-an-aesthetically-pleasing-journey-of-revamping-eateries-in-trouble\/\" 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\/05\/25\/restaurants-on-the-edge-an-aesthetically-pleasing-journey-of-revamping-eateries-in-trouble\/')\">\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\/05\/25\/restaurants-on-the-edge-an-aesthetically-pleasing-journey-of-revamping-eateries-in-trouble\/\">\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=Restaurants on the Edge: An aesthetically pleasing journey of revamping eateries in trouble&url=https:\/\/enterpriseam.com\/egypt\/2023\/05\/25\/restaurants-on-the-edge-an-aesthetically-pleasing-journey-of-revamping-eateries-in-trouble\/\">\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\/05\/25\/restaurants-on-the-edge-an-aesthetically-pleasing-journey-of-revamping-eateries-in-trouble\/&title=Restaurants on the Edge: An aesthetically pleasing journey of revamping eateries in trouble\">\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=Restaurants+on+the+Edge%3A+An+aesthetically+pleasing+journey+of+revamping+eateries+in+trouble+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F05%2F25%2Frestaurants-on-the-edge-an-aesthetically-pleasing-journey-of-revamping-eateries-in-trouble%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\/05\/25\/restaurants-on-the-edge-an-aesthetically-pleasing-journey-of-revamping-eateries-in-trouble\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-587381\" class=\"content-area-description single-story post-587381 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\/5\/.e3551f2f-0d44-4d5a-aed8-5f8a2620da8b.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> <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/www.netflix.com\/eg-en\/title\/81016995\" style=\"\">Restaurants on the Edge<\/a><\/span><span style=\"font-weight:700\"> is Netflix\u2019s latest cooking renovation show about how<\/span><span style=\"font-weight:700\"> restaurateurs start up their establishments. <\/span><span style=\"font-weight:400;\">With an eye on spots around the world, some often in very obscure places, the show features some breathtaking sights \u2014 a fishing village in Hong Kong, Finland\u2019s oldest city Turku, the outskirts of British Columbia, St. Croix in the Caribbean, and many more. Nick Liberato, a restaurateur, designer Karin Bohn, and chef Dennis Presscott visit restaurants, cafes, and pubs that are on the edge of demise for several reasons, old menus, expensive ingredients, familial obligations, and a lack of identity and breathe new life into them. They understand the philosophy behind the restaurant, research the area to locally source the design materials and ingredients in the area, and advise them on management skills that can help make their venue unique and profitable. This two-season series is aesthetically pleasing and a relaxing watch to unwind to after a long working week. <\/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\/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=\"587387\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-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\/240927.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/mashreq.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27486.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Rise every day<\/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-nqmc4pr\" data-v=\"4\" data-block-id=\"nqmc4pr\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-nqmc4pr-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-nqmc4pr-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\/240928.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.beltoneholding.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27484.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Where disruption meets success<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-6zm348b\" data-v=\"4\" data-block-id=\"6zm348b\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-6zm348b-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-6zm348b-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\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"587388\" 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=\"587388\">\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\/05\/25\/what-the-markets-are-doing-on-25-may-2023\/\">\r\n                            What the markets are doing on 25 May, 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\/05\/25\/what-the-markets-are-doing-on-25-may-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\/05\/25\/what-the-markets-are-doing-on-25-may-2023\/')\">\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\/05\/25\/what-the-markets-are-doing-on-25-may-2023\/\">\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=What the markets are doing on 25 May, 2023&url=https:\/\/enterpriseam.com\/egypt\/2023\/05\/25\/what-the-markets-are-doing-on-25-may-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\/05\/25\/what-the-markets-are-doing-on-25-may-2023\/&title=What the markets are doing on 25 May, 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+25+May%2C+2023+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F05%2F25%2Fwhat-the-markets-are-doing-on-25-may-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\/05\/25\/what-the-markets-are-doing-on-25-may-2023\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-587388\" class=\"content-area-description single-story post-587388 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\/5\/.0da356d2-7e99-46c3-8bef-78a317de27ac.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 fell 0.3% at today\u2019s close<\/span><span style=\"font-weight:400;\"> on turnover of EGP 1.65 bn. Local investors were net buyers. The index is up 16.8% 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>Credit Agricole Egypt<\/span><span style=\"font-weight:400;\"> (+5.7%), Taaleem (+5.6%), and Edita (+3.9%).<\/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>Orascom Construction<\/span><span> (-2.4%), Ibnsina Pharma (-2.3%) and Ezz Steel (-2.2%).<\/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<section id=\"587389\" 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=\"587389\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Enterprise explains<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/25\/enterprise-explains-the-roles-in-a-securitization-issuance\/\">\r\n                            Enterprise Explains: The roles in a securitization issuance                        <\/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\/05\/25\/enterprise-explains-the-roles-in-a-securitization-issuance\/\" 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\/05\/25\/enterprise-explains-the-roles-in-a-securitization-issuance\/')\">\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\/05\/25\/enterprise-explains-the-roles-in-a-securitization-issuance\/\">\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=Enterprise Explains: The roles in a securitization issuance&url=https:\/\/enterpriseam.com\/egypt\/2023\/05\/25\/enterprise-explains-the-roles-in-a-securitization-issuance\/\">\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\/05\/25\/enterprise-explains-the-roles-in-a-securitization-issuance\/&title=Enterprise Explains: The roles in a securitization issuance\">\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=Enterprise+Explains%3A+The+roles+in+a+securitization+issuance+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F05%2F25%2Fenterprise-explains-the-roles-in-a-securitization-issuance%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\/05\/25\/enterprise-explains-the-roles-in-a-securitization-issuance\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/126.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"587390\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/25\/enterprise-explains-the-roles-in-a-securitization-issuance\/126-jpg-27\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/126.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"126.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/126.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/126.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-587389\" class=\"content-area-description single-story post-587389 post type-post status-publish format-standard has-post-thumbnail hentry category-enterprise-explains tag-debt tag-enterprise-explains tag-enterprisepm tag-securitization 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\/5\/.522f982b-fbba-40ac-8bdf-49fd9cdd8cca.mp3\"><\/audio><\/figure>\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\">Who are the key players in securitization?<\/span><span style=\"\"> 2023 has so far been a bullish year for<\/span><span> securitization, with <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9378bbab-9733-488f-af78-137f68a6374d\" style=\"\">Aur Leasing and Factoring<\/a><\/span><span>, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/08641244-c01e-4075-a12a-9c39ade974ac\" style=\"\">Contact Creditech and Contact Credit<\/a><\/span><span>, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f9163ea-5084-4bf3-a9a8-6793be542e0c\" style=\"\">Al Ahly Leasing and Factoring<\/a><\/span><span>,<\/span><span> and many more taking securitized bonds to market. These <\/span><span>issuances<\/span><span style=\"font-weight:400;\"> come with a dizzying laundry list of jobs \u2014 from underwriters and bookrunners to legal and financial advisors. So we\u2019ve put together a simplified guide of the key players and their roles in the process.<\/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\">First things first: What even is securitization?<\/span><span style=\"\"> Securitization is a financing technique<\/span><span> whereby a company sells off some of its receivables (i.e. income-producing assets, such as auto loans, credit card debt, mortgages, or commercial paper) to a separate legal entity \u2014 a placeholder, if you will. With the help of a squad of financial and other institutions, this entity then repackages the assets into debt securities and sells them to investors. Our separate explainer on securitization (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/32ba4863-0863-403d-85e7-9732b18499b6\" style=\"\">here<\/a><\/span><span>) gets into the nitty-gritty of the financials and procedures. For the purposes of <\/span><span>this <\/span><span style=\"font-weight:400;\">explainer, we\u2019ll get down to the brass tacks of who does what.<\/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 originator is the creator of the original assets being repackaged <\/span><span style=\"\">\u2014 i.e. the underlying<\/span><span style=\"font-weight:400;\"> receivables. The originator could be a consumer finance company, car seller, real estate firm, ins. company, leasing company, or any other institution that has receivables to sell. The sale allows the originator to remove the assets from its balance sheet, increasing its funding capacity and freeing up capital for other purposes or investments that could generate higher returns.<\/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 special purpose vehicle (SPV) is the issuer of the repackaged assets.<\/span><span style=\"\"> It buys the<\/span><span> assets from the originator and, after the transformation is all set, sells them as debt securities to investors. A legal entity separate from the originator, the SPV is a company whose sole purpose is to carry out securitization. This setup prevents the SPV from engaging in transactions that could incur debt, which would expose it to the risk of default and thereby hinder its ability to pay investors. The SPV must be licensed by the Financial Regulatory Authority (FRA), as does each issuance it puts forth. Examples of SPVs operating in Egypt include EFG Holding subsidiary <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.efghermes.com\/en\/efg-hermes-financial-group-for-securitization\" style=\"\">Financial Group for Securitization<\/a><\/span><span>, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/taamir-sec.com\/\" style=\"\">El Taamir Securitization<\/a><\/span><span>, the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.euroabs.com\/OpenIssueAccess.aspx?issueid=10026#\" style=\"\">Egyptian Securitization Company<\/a><\/span><span>, and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/www.at-lease.com\/Viewer\/Default.aspx?Lang=1&Page=84&Name=First%20Securitization\/%D8%A7%D9%84%D8%AA%D9%88%D8%B1%D9%8A%D9%82%D8%A9%20%D8%A7%D9%84%D8%A3%D9%88%D9%84%D9%89\" style=\"\">Al-Tawfeek for Securitization<\/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\">The legal advisor conducts due diligence on the underlying pool of assets<\/span><span style=\"\"> to ensure that<\/span><span> they are transferable, i.e. that no third parties have any claims to them and that there are no restrictions that would prevent their transfer to the SPV. It then prepares the legal documents and files them to the FRA for approval. These documents include the securitization contracts and the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/uk.practicallaw.thomsonreuters.com\/3-382-4309?transitionType=Default&contextData=(sc.Default)&firstPage=true\" style=\"\">information memorandum<\/a><\/span><span style=\"font-weight:400;\"> (IM), which provides investors with all essential information about the issuance needed to make an informed decision. The legal advisor also registers the securities in the Egyptian Stock Exchange (EGX) and Misr for Central Clearing, Depository, and Registry (MCDR). Any licensed law firm or lawyer can act as a legal advisor.<\/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 does the auditor:<\/span><span style=\"\"> While the legal advisor evaluates the legal validity of the receivables, the<\/span><span style=\"font-weight:400;\"> auditor looks into their financial soundness. It studies the receivables and their payment histories to project their cashflows, making sure they will remain profitable. It also works with the arranger to validate the financial model of the issuance (more on that below). Based on its studies, the auditor prepares evaluation reports, which are sent alongside the legal advisor\u2019s reports to the credit rating agency. The most eminent auditors, known as the Big Four, are Deloitte, Ernst & Young, KPMG, and PwC, all of which are international professional services networks with offices 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:700\">The arranger\u2019s main job is to design the structure of the issuance. <\/span><span style=\"\">Typically an investment<\/span><span style=\"font-weight:400;\"> bank, the arranger is also known as the financial advisor because it devises the financial model behind the issuance. It studies investor demand to group the securities into classes, known as tranches, that cater to different preferences and risk profiles. The arranger designs the characteristics of each tranche, including maturity date, interest rate, and remaining principal. It is also responsible for marketing the securities and bringing in investors, for which it usually has a roster of contacts.<\/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 underwriter guarantees payment.<\/span><span style=\"\"> If the arranger is unable to find investors to cover the<\/span><span style=\"font-weight:400;\"> entire issuance, i.e. if the issuance is undersubscribed, it may buy the unpurchased portion for an extra fee \u2014 a role that is referred to as underwriting. Investment banks typically charge hefty fees in exchange for assuming the financial risks associated with underwriting. The arranger may be joined in this task by other parties, like another investment bank or a commercial bank.<\/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 credit rating agency evaluates the creditworthiness of the securities<\/span><span style=\"\">, which measures<\/span><span> the likelihood that debt will be repaid. The lower the risk of nonpayment, the higher the rating the agency gives. Rating agencies assess a number of factors, including the quality of the underlying asset pool, strengths of the originator, legal risks, and the soundness of the security\u2019s structure. There is only one credit rating agency in Egypt right now: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/merisratings.com\/\" style=\"\">MERIS<\/a><\/span><span style=\"font-weight:400;\"> (Middle East Rating & Investors Service), a joint venture between Moody\u2019s and Finance and Banking Consultants International (FinBi).<\/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 bookrunner runs the investor order book.<\/span><span style=\"\"> Subsequently, it places the issuance \u2014 which<\/span><span style=\"font-weight:400;\"> entails determining how much of the security is issued to each investor. This pivotal position puts the bookrunner at the top of the hierarchy of roles in securitization transactions. The bookrunner, typically a commercial or investment bank, also plays the role of collecting the proceeds of the issuance from investors.<\/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 custodian is the safekeeper of all documents.<\/span><span style=\"\"> Typically a bank or another large,<\/span><span style=\"font-weight:400;\"> reputable institution, the custodian stores the securitization documents to safeguard them against loss and theft. These include the underlying receivables and all contracts. It also offers related services like managing customer accounts, settling financial transactions, and preparing tax filings.<\/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 types of investors authorized to subscribe to securitized assets are determined by<\/span><span style=\"font-weight:700\"> the FRA. <\/span><span>Also known as subscribers, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/pages.stern.nyu.edu\/~igiddy\/ABS\/securitizationintro.htm\" style=\"\">investors<\/a><\/span><span> are usually banks, insurance companies, or investment funds. The securities may be sold to investors via private placement or public offering.<\/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\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-explains\/\">Enterprise Explains<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/securitization\/\">securitization<\/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=\"587391\" 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\/05\/25\/587391\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-587391\" class=\"content-area-description single-story post-587391 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\">MAY <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>17 May-10 June (Wednesday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/m.facebook.com\/events\/209638298512385?mibextid=Z0UBBX\" style=\"\">Cairo Cinema Days<\/a><\/span><span style=\"font-weight:400;\"> at Zawya Cinema, Downtown Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>24 May (Wednesday): Last day of Omar Abdel Zaher\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.safarkhan.com\/exhibitions\/27-roots-omar-abdel-zaher\/overview\/\" style=\"\">Roots<\/a><\/span><span> exhibition at the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/goo.gl\/maps\/HGGcsG6onyFbnCez9\" style=\"\">Safarkhan Art Gallery<\/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;\">24-25 (Wednesday-Thursday): Disco Misr at El Sawy Culturewheel.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>24-27 May (Wednesday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/soundandlight.show\/en?gclid=Cj0KCQjwmZejBhC_ARIsAGhCqnfL68VH44SarDgoutcPaM_x96XuZkF--mMORdbN8RGhFw6IzA0-QRgaAuPCEALw_wcB\" style=\"\">Pyramids Sound and Light Show<\/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>25-27 May (Thursday-Saturday): TriFactory\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.thetrifactory.com\/somabay\" style=\"\">Somabay Endurance Festival<\/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>27 May-27 June (Saturday-Tuesday): Annual Flower Exhibition from 10am at the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/goo.gl\/maps\/LRKyd1y1m3uRR9gFA\" style=\"\">Agricultural Museum<\/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;\">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;\">9 June (Friday): TriFactory Madinaty Half Marathon.<\/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;\">15 June (Thursday): Last day of the Traces of Egypt Exhibition at 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 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 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;\">13 October- 20 October (Friday-Friday): The sixth edition of El Gouna Film Festival (GFF).<\/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=\"font-weight:400;\">2023: The inauguration of the Grand Egyptian Museum.<\/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":587374,"template":"","categories":[],"tags":[],"class_list":["post-587373","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"a9c11241-3049-4aea-a880-9e2386b8629c","teaser":"","photo_url":"https:\/\/ent.news\/2023\/4\/251.jpeg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>AI v IP showdown - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/ai-v-ip-showdown\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AI v IP showdown\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/ai-v-ip-showdown\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T14:57:20+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/251.jpeg?fit=%2C&ssl=1\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/ai-v-ip-showdown\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/ai-v-ip-showdown\/\",\"name\":\"AI v IP showdown - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/ai-v-ip-showdown\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/ai-v-ip-showdown\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/251.jpeg?fit=%2C&ssl=1\",\"datePublished\":\"2023-05-25T00:00:00+00:00\",\"dateModified\":\"2025-12-16T14:57:20+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/ai-v-ip-showdown\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/afternoon\/ai-v-ip-showdown\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/ai-v-ip-showdown\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/251.jpeg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/4\/251.jpeg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/ai-v-ip-showdown\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Afternoon\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/PMarchives\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"AI v IP showdown\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"AI v IP showdown - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/afternoon\/ai-v-ip-showdown\/","og_locale":"en_US","og_type":"article","og_title":"AI v IP showdown","og_url":"https:\/\/enterpriseam.com\/egypt\/afternoon\/ai-v-ip-showdown\/","og_site_name":"EnterpriseAM Egypt","article_modified_time":"2025-12-16T14:57:20+00:00","twitter_card":"summary_large_image","twitter_image":"https:\/\/i0.wp.com\/ent.news\/2023\/4\/251.jpeg?fit=%2C&ssl=1","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/afternoon\/ai-v-ip-showdown\/","url":"https:\/\/enterpriseam.com\/egypt\/afternoon\/ai-v-ip-showdown\/","name":"AI v IP showdown - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/afternoon\/ai-v-ip-showdown\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/afternoon\/ai-v-ip-showdown\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2023\/4\/251.jpeg?fit=%2C&ssl=1","datePublished":"2023-05-25T00:00:00+00:00","dateModified":"2025-12-16T14:57:20+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/afternoon\/ai-v-ip-showdown\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/afternoon\/ai-v-ip-showdown\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/afternoon\/ai-v-ip-showdown\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2023\/4\/251.jpeg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2023\/4\/251.jpeg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/afternoon\/ai-v-ip-showdown\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Afternoon","item":"https:\/\/enterpriseam.com\/egypt\/PMarchives\/"},{"@type":"ListItem","position":3,"name":"AI v IP showdown"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}}]}},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/587373","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/afternoon"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/587374"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=587373"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=587373"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=587373"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}