{"id":542570,"date":"2022-01-04T03:36:39","date_gmt":"2022-01-04T03:36:39","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=542570"},"modified":"2025-12-15T19:56:17","modified_gmt":"2025-12-15T19:56:17","slug":"edita-wont-acquire-egyptian-belgian-companys-assets-after-talks-collapse","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/edita-wont-acquire-egyptian-belgian-companys-assets-after-talks-collapse\/","title":{"rendered":"Edita won\u2019t acquire Egyptian Belgian Company\u2019s assets after talks collapse"},"content":{"rendered":"<section id=\"542572\" 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=\"542572\">\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're Tracking Today<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/this-morning-its-pmi-day-unified-budget-act-fintech-law-up-for-final-house-votes-today-opec-meeting-theranos-holmes-found-guilty-of-fraud\/\">\r\n                            THIS MORNING: It\u2019s PMI day; Unified Budget Act, fintech law up for final House votes today; OPEC+ meeting; Theranos\u2019 Holmes found guilty of fraud.                        <\/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\/2022\/01\/04\/this-morning-its-pmi-day-unified-budget-act-fintech-law-up-for-final-house-votes-today-opec-meeting-theranos-holmes-found-guilty-of-fraud\/\" 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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OPEC+ meeting; Theranos\u2019 Holmes found guilty of fraud.&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/this-morning-its-pmi-day-unified-budget-act-fintech-law-up-for-final-house-votes-today-opec-meeting-theranos-holmes-found-guilty-of-fraud\/\">\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\/2022\/01\/04\/this-morning-its-pmi-day-unified-budget-act-fintech-law-up-for-final-house-votes-today-opec-meeting-theranos-holmes-found-guilty-of-fraud\/&title=THIS MORNING: It\u2019s PMI day; Unified Budget Act, fintech law up for final House votes today; OPEC+ meeting; Theranos\u2019 Holmes found guilty of fraud.\">\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+MORNING%3A+It%E2%80%99s+PMI+day%3B+Unified+Budget+Act%2C+fintech+law+up+for+final+House+votes+today%3B+OPEC%2B+meeting%3B+Theranos%E2%80%99+Holmes+found+guilty+of+fraud.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F04%2Fthis-morning-its-pmi-day-unified-budget-act-fintech-law-up-for-final-house-votes-today-opec-meeting-theranos-holmes-found-guilty-of-fraud%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\/2022\/01\/04\/this-morning-its-pmi-day-unified-budget-act-fintech-law-up-for-final-house-votes-today-opec-meeting-theranos-holmes-found-guilty-of-fraud\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542572\" class=\"content-area-description single-story post-542572 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-apple tag-diplomacy tag-elizabeth-holmes tag-energy tag-enterpriseam tag-financial-markets tag-fintech tag-hamas tag-inflation tag-insurance tag-israel-palestine-conflict tag-legislation tag-legislation-watch tag-oil-and-gas tag-opec tag-pmi tag-politics tag-social-welfare tag-theranos tag-unified-budget-act tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Good morning, wonderful people, and welcome to the first Tuesday of what we expect <\/strong><strong>will be a holiday-shortened week<\/strong> ahead of Coptic Christmas. We hope you\u2019re making plans to enjoy the long weekend \u2014 you\u2019ve got this and 27 January to which to look forward before a holiday drought that will stretch until near the end of Ramadan in April.<\/p><p><strong>THANK YOU to all of you who participated in our 2022 Reader Poll. <\/strong>It closed at midnight. We\u2019ll have the results for you all next week and will announce the names of eight readers who we\u2019ll be inviting to breakfast with us once this whole omicron thing dies down a bit. A dozen other participants will be getting nice Enterprise mugs.<\/p><p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>PSA #1 - Employees are now paying 15% more towards social ins.: <\/strong>Public and private sector workers are now contributing a minimum of EGP 1.4k and a maximum of EGP 9.4k from their gross salaries towards social ins. as of 1 January, up 15% from last year, according to a<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/309103401260087\"><\/a><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/309103401260087\">statement<\/a> from the National Social Ins. Authority. The hike comes in line with a plan laid out in the 2019 <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2290ee3e-bfb7-4045-be5b-9e6188518c83\">Pension Act<\/a> that will see minimum and maximum contributions increase by 15% annually until 2027.<\/p><p><strong>The hike will see pensioners getting a bit more in their pockets<\/strong> each month, the statement said. Payouts to retirees and other beneficiaries rose on 1 January to a minimum of EGP 910 and a maximum of EGP 7.5k.<\/p><p><strong>PSA #<\/strong><strong>2- <\/strong><strong>This Thursday, 6 January is off for banks and the public sector <\/strong>in observance of Coptic Christmas, which falls on Friday. We\u2019re still waiting on confirmation from the EGX and the Manpower Ministry that the stock market will be closed and the private sector will be off on that day, but we\u2019re optimistic: If banks are closed, the stock market cannot trade.<\/p><p><strong>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p><p><strong>It\u2019s PMI day:<\/strong> Purchasing managers\u2019 index figures for December for Egypt, Saudi Arabia, and Qatar will be released at 6:15am CLT today \u2014 you an <a href=\"https:\/\/www.markiteconomics.com\/Public\/Release\/PressReleases?language=en\">find them all here<\/a> when they\u2019re out. Egypt\u2019s non-oil business activity has remained in contraction territory for each of the past 12 months, as inflation and supply chain bottlenecks continued to weigh on private sector firms. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f6572964-fd33-4870-9d6d-f1bb1d364abb\">Last month<\/a>, output fell for the third consecutive month, as output price inflation rose at the second-fastest pace since mid-2018. Figures for the UAE will be released tomorrow.<\/p><p><strong>Watch that inflation:<\/strong> Improvement in activity could remain muted over the next several months as inflation is expected to suppress output, according to purchasing managers surveyed in November\u2019s report.<\/p><p><strong>This is why next week\u2019s inflation figure is crucial:<\/strong> <strong>Inflation figures for December will be<\/strong><strong> released on Monday, 10 January.<\/strong> Annual urban inflation slowed for the second month running <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ac88f00a-95ea-4278-ae35-7d265fb003a0\">in November<\/a> and dipped to its lowest since July as pressure on food prices continued to ease, but some analysts <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f4b1d297-1400-4fd8-830d-014978686b44\">have flagged<\/a> a potential acceleration in inflation figures. What\u2019s to blame? Persistent global inflation, a potential scale-back of food subsidies, potential electricity price increases, and a rise in demand following higher employment rates.<\/p><p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>On the legislative agenda today:<\/strong> The House of Representatives is back in session today and is scheduled to hold final votes on:<\/p><ul>\n<li><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3d9ae909-072f-4fc9-afe1-410336e76388\">The fintech act<\/a><\/strong><strong>:<\/strong> The bill would, if passed, govern the use of fintech by non-banking financial services providers, as well as put the Financial Regulatory Authority in charge of overseeing the fintech space in general.<\/li>\n<li><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5e74b5b9-6e89-4fcb-b133-c2c9bd9dede1\">Unified budget act<\/a><\/strong><strong>:<\/strong> The legislation would require the government to be more transparent in how it plans public finances, forcing it to present an annual medium-term budgetary and fiscal strategy to the House and set spending limits for each ministry.<\/li>\n<\/ul><p><strong>OPEC+ is meeting today to decide whether to go ahead with plans to add another <\/strong><strong>400k barrels per day to the market in February.<\/strong> The cartel agreed in December to continue ramping up oil production despite concerns that omicron could dent demand. It will likely stick to its planned monthly production increases at this week\u2019s meeting, delegates told <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-03\/opec-sees-tighter-first-quarter-as-it-considers-next-output-hike?sref=mmeFTDW1\">Bloomberg<\/a> yesterday \u2014 especially after OPEC+ analysts lowered estimates for the first-quarter surplus at Monday\u2019s preliminary meeting yesterday.<\/p><p><strong>OPEC has appointed a new secretary-general:<\/strong> Kuwait\u2019s Haitham Al Ghais has been chosen by OPEC members to replace incumbent Mohammad Barkindo of Nigeria as the organization\u2019s secretary-general this summer, it <a href=\"https:\/\/twitter.com\/OPECSecretariat\/status\/1478041024798863361\">announced yesterday<\/a> following a separate meeting. Barkindo, who has held the position since 2016, will make way for Al Ghais at the end of July.<\/p><p><strong>Two Egyptian delegations are separately heading to Gaza and Tel Aviv <\/strong><strong>to<\/strong><strong> push for a truce between the two sides<\/strong>, <a href=\"https:\/\/bit.ly\/3pN1DEi\">Al Arabiya<\/a> reports, citing unnamed sources. Egypt is pushing the Israeli military to call off airstrikes and Palestinians to stop firing rockets. Tension between the two sides rose after Palestinian forces fired rockets into the Mediterranean Sea off the Israeli coast, prompting Israel to carry out airstrikes in Gaza.<\/p><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<\/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    <\/p><\/div>\n<\/div>\n<\/div><p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>THE BIG STORIES ABROAD- Theranos founder Elizabeth Holmes has been found <\/strong><strong>guilty of defrauding investors.<\/strong> A US jury has found Holmes guilty on four of the 11 counts of conspiracy and wire fraud connected with her blood-testing Silicon Valley startup Theranos. The 37-year-old former CEO, who modeled herself on Apple\u2019s Steve Jobs as she rose to fame, was acquitted on four counts of defrauding patients, while the jury did not deliver a verdict on three counts relating to individual investors. Prosecutors accused Holmes of misleading investors and patients over the accuracy of her firm\u2019s blood-testing technology, which she claimed could perform dozens of tests using exceptionally small quantities of blood. Holmes will likely appeal the verdict, but if it stands, she faces up to 20 years in prison. The story is everywhere from the <a href=\"https:\/\/apnews.com\/article\/elizabeth-holmes-trial-theranos-ceo-fb79a29d3c426a5cadee7ec5734b6f24\">AP<\/a> and <a href=\"https:\/\/www.reuters.com\/world\/us\/us-jury-theranos-trial-cannot-agree-verdicts-all-charges-2022-01-03\/\">Reuters<\/a> to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-03\/holmes-jurors-say-struggling-to-reach-verdict-on-3-of-11-counts?srnd=premium-middle-east\">Bloomberg<\/a>, the <a href=\"https:\/\/www.ft.com\/content\/8bde19f6-e8a5-4800-8882-fd799f0caac0\">FT<\/a>, <a href=\"https:\/\/www.wsj.com\/articles\/the-elizabeth-holmes-verdict-theranos-founder-is-guilty-on-four-of-11-charges-in-fraud-trial-11641255705?mod=hp_lead_pos1\">WSJ<\/a>, <a href=\"https:\/\/www.nytimes.com\/live\/2022\/01\/03\/technology\/elizabeth-holmes-trial-verdict\">NYT<\/a> and the <a href=\"https:\/\/www.theguardian.com\/technology\/2022\/jan\/03\/elizabeth-holmes-theranos-verdict-latest\">Guardian<\/a>.<\/p><p><strong>Apple has become the first company ever to achieve a USD 3 tn market cap<\/strong> after yesterday hitting a record intraday high of USD 182.88 per share. The company\u2019s stock ended the session up 2.5% at USD 182.01, giving the company a closing market cap of USD 2.99 tn. Apple became the first company to reach a USD 1 tn market cap in August 2018 and hit USD 2 tn in 2020. The story is everywhere in the business press from <a href=\"https:\/\/www.reuters.com\/markets\/europe\/apple-gets-closer-3-trillion-market-value-2022-01-03\/\">Reuters<\/a> to the <a href=\"https:\/\/www.ft.com\/content\/57f57303-82b9-49db-89ee-54888e1c714d\">FT<\/a>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-03\/apple-value-briefly-tops-3-trillion-after-relentless-rally?srnd=premium&amp;sref=mmeFTDW1\">Bloomberg<\/a> and <a href=\"https:\/\/www.cnbc.com\/2022\/01\/03\/apple-becomes-first-us-company-to-reach-3-trillion-market-cap.html\">CNBC<\/a>.<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>Key news triggers to keep your eye on:<\/strong><\/p><ul>\n<li><strong>Foreign reserves:<\/strong> December\u2019s foreign reserves figures will be announced before the week is out.<\/li>\n<li><strong>Interest rates:<\/strong> Further afield, the Central Bank of Egypt (CBE) will hold its first policy meeting of 2022 on Thursday, 3 February.<\/li>\n<\/ul><p><strong>The 2021 Africa Cup of Nations gets underway in Cameroon next Sunday, 9 January.<\/strong> The championship will run until Sunday, 6 February.<\/p><p><strong>The <\/strong><strong><a href=\"https:\/\/wyfegypt.com\/\">World Youth Forum<\/a><\/strong><strong> kicks off in Sharm El Sheikh next Monday, 10 January<\/strong> and runs until Thursday, 13 January.<\/p><p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/INFINITY-Top-banner-EN-1600x675-v2-02.png?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p><p><strong>In today\u2019s issue: <\/strong>The green economy will be a major focus for Egypt in 2022, with all eyes on COP27, coming up in Sharm El Sheikh in November. The big question: What should we expect from the climate summit itself and in the lead-up to the event? Officials say it\u2019s a chance for Egypt and other EMs to secure large-scale climate financing and will be the springboard for new project launches \u2014 potentially in areas like carbon capture, desalination and green hydrogen. But COP27 will also put Egypt\u2019s targets and strategies for emissions reduction and upping the use of renewables under the microscope. And some renewable energy players are hoping it will spur regulatory changes to bolster their industries, which are set to feel continued pressure from high imported material costs.<\/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\/apple\/\">Apple<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/elizabeth-holmes\/\">Elizabeth Holmes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hamas\/\">Hamas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/insurance\/\">insurance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel-palestine-conflict\/\">Israel-Palestine conflict<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation\/\">legislation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/opec\/\">OPEC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pmi\/\">PMI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/social-welfare\/\">social welfare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/theranos\/\">Theranos<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/unified-budget-act\/\">Unified Budget Act<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/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=\"542573\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"542573\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/542573\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542573\" class=\"content-area-description single-story post-542573 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/somabay.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/SOMA-ENTERPRISE-AUG2-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"542574\" 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=\"542574\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/edita-wont-be-acquiring-assets-of-ole-bakeries-manufacturer\/\">\r\n                            Edita won\u2019t be acquiring assets of Ole bakeries manufacturer                        <\/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\/2022\/01\/04\/edita-wont-be-acquiring-assets-of-ole-bakeries-manufacturer\/\" 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\/2022\/01\/04\/edita-wont-be-acquiring-assets-of-ole-bakeries-manufacturer\/')\">\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\/2022\/01\/04\/edita-wont-be-acquiring-assets-of-ole-bakeries-manufacturer\/\">\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=Edita won\u2019t be acquiring assets of Ole bakeries manufacturer&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/edita-wont-be-acquiring-assets-of-ole-bakeries-manufacturer\/\">\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\/2022\/01\/04\/edita-wont-be-acquiring-assets-of-ole-bakeries-manufacturer\/&title=Edita won\u2019t be acquiring assets of Ole bakeries manufacturer\">\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=Edita+won%E2%80%99t+be+acquiring+assets+of+Ole+bakeries+manufacturer+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F04%2Fedita-wont-be-acquiring-assets-of-ole-bakeries-manufacturer%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\/2022\/01\/04\/edita-wont-be-acquiring-assets-of-ole-bakeries-manufacturer\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/42.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"542575\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/edita-wont-be-acquiring-assets-of-ole-bakeries-manufacturer\/42-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/42.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"42.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/42.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/42.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542574\" class=\"content-area-description single-story post-542574 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-cleopatra-hospitals-group tag-creed-healthcare tag-edita tag-egyptian-belgian-company-for-industrial-investments tag-enterpriseam tag-ma-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Snackfoods giant Edita won\u2019t acquire Egyptian Belgian Company\u2019s assets <\/strong><strong>after talks collapse: <\/strong>Edita Food Industries\u2019 bid to acquire assets belonging to Egyptian Belgian Company has fallen through after the two companies were unable to agree on a valuation. The EGX-listed company had expected to finalize an agreement with the Ole baked products manufacturer this month but said in a <a href=\"https:\/\/ent.news\/2022\/1\/Edita-EGX.pdf\">regulatory filing (pdf)<\/a> yesterday that negotiations had been suspended after failing to reach an agreement. A senior Edita official told us that talks collapsed because the two companies couldn\u2019t agree on a valuation following due diligence.<\/p>\n<p><strong>Background:<\/strong> Edita <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/760ea573-a3b9-4647-8f74-1adfa7b431e6\">submitted a non-binding<\/a> letter of intent in November to acquire the company\u2019s real estate assets (including land plots and buildings), as well as machinery, equipment, and production lines. A senior exec told us at the time that the company viewed the acquisition as a \u201cmajor milestone\u201d that would have added \u201csignificant\u201d production capacity to its baked goods segment.<\/p>\n<p><strong>ALSO ON THE M&A FRONT-<\/strong><\/p>\n<p><strong>Creed Healthcare discloses size of Cleo stake sale to MCI Capital:<\/strong> Creed Healthcare sold an 8.9% stake, or almost 142 mn shares, in Cleopatra Hospitals Group (CHG) to MCI Capital Healthcare Partners for EGP 709.8 mn (EGP 5 per share) last week, the company said in a <a href=\"https:\/\/ent.news\/2022\/1\/CHG-29-03-01-2022.pdf\">bourse disclosure<\/a><a href=\"https:\/\/ent.news\/2022\/1\/CHG-29-03-01-2022.pdf\">(pdf<\/a>). The sale reduced Creed\u2019s stake in CHG from 37.9% to 29%.<\/p>\n<p><strong>The transaction was part of MCI Capital\u2019s acquisition of 23% of CHG: <\/strong>MCI Capital, a subsidiary of state-owned CI Capital, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/48fafa45-5626-45fd-844a-22f97aa660db\">last week bought a 23% stake in CHG<\/a> for a total EGP 1.8 bn. Creed, which owns its stake in CHG through its subsidiary Care Healthcare, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8a67bda2-2571-4d68-b600-30894ac00789\">had agreed to sell an 8-12% stake<\/a> in the company to MCI at the EGP 5-per-share offer price during its voluntary tender offer. The confirmation of its 8.9% stake sale to MCI Capital means that other CHG shareholders collectively sold around a 14.1% stake.<\/p>\n<p><strong>Creed remains CHG\u2019s single-largest shareholder with its remaining 29% stake, <\/strong>while MCI Capital\u2019s total holding in CHG now stands at around 26.8% following the acquisition, according to information previously provided to Enterprise by a source with knowledge of the transaction. Creed used to own more than two-thirds of CHG but divested a 31.5% stake in 2019.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cleopatra-hospitals-group\/\">Cleopatra Hospitals Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/creed-healthcare\/\">Creed Healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/edita\/\">Edita<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-belgian-company-for-industrial-investments\/\">Egyptian Belgian Company for Industrial Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"542576\" 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=\"542576\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/bp-eni-among-7-companies-to-land-new-oil-gas-exploration-blocks\/\">\r\n                            BP, Eni among 7 companies to land new oil + gas exploration blocks                        <\/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\/2022\/01\/04\/bp-eni-among-7-companies-to-land-new-oil-gas-exploration-blocks\/\" 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\/2022\/01\/04\/bp-eni-among-7-companies-to-land-new-oil-gas-exploration-blocks\/')\">\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\/2022\/01\/04\/bp-eni-among-7-companies-to-land-new-oil-gas-exploration-blocks\/\">\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=BP, Eni among 7 companies to land new oil + gas exploration blocks&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/bp-eni-among-7-companies-to-land-new-oil-gas-exploration-blocks\/\">\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\/2022\/01\/04\/bp-eni-among-7-companies-to-land-new-oil-gas-exploration-blocks\/&title=BP, Eni among 7 companies to land new oil + gas exploration blocks\">\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=BP%2C+Eni+among+7+companies+to+land+new+oil+%2B+gas+exploration+blocks+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F04%2Fbp-eni-among-7-companies-to-land-new-oil-gas-exploration-blocks%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\/2022\/01\/04\/bp-eni-among-7-companies-to-land-new-oil-gas-exploration-blocks\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/43.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"542577\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/bp-eni-among-7-companies-to-land-new-oil-gas-exploration-blocks\/43-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/43.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"43.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/43.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/43.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542576\" class=\"content-area-description single-story post-542576 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-bp tag-energean tag-energy tag-eni tag-enterpriseam tag-oil-and-gas tag-tarek-el-molla wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Seven international energy companies have been awarded eight of the 24 oil <\/strong><strong>and gas exploration <\/strong><strong>blocks<\/strong> included in the government\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2c4454f8-c6d8-46dc-a04b-f1d3ab0b9291\">bid round held last year<\/a>, the Oil Ministry said in a <a href=\"https:\/\/bit.ly\/3mRypCu\">statement<\/a> yesterday. BP, Eni, Apex International, Energean Egypt, United Energy, Ukraine\u2019s INA Naftaplin, and Chile\u2019s Enap Sipetrol all received blocks in the tender, which saw two blocks awarded in the Mediterranean, four in the Western Desert, and two in the Gulf of Suez. The firms will invest a combined minimum of USD 250 mn in the initial exploration phase and drill at least 33 exploration wells in the blocks, the ministry said.<\/p>\n<p><strong>What happened to the other 16 blocks?<\/strong> The ministry didn\u2019t disclose the status of the other 16 concessions put up for auction in the bid round, which ran between mid-February and the end of July last year. Nine blocks in the Mediterranean, 12 in the Western Desert and three in the Gulf of Suez were all up for grabs.<\/p>\n<p><strong>Oil + gas contracts have been flowing in lately<\/strong>, with two other major agreements signed just last week. Italian energy firm Eni committed to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e23ca6f4-7f73-4872-a701-a93d211c3134\">invest a minimum USD 1 bn<\/a> on exploration and extraction in the Gulf of Suez and Nile Delta regions, while the Oil Ministry also <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/510ef9d0-a0b6-4280-91f0-19eb6d557bca\">inked a new USD 3.5 bn, 20-year production agreement<\/a> with Apache-Sinopec JV.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bp\/\">BP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energean\/\">Energean<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eni\/\">Eni<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tarek-el-molla\/\">Tarek El Molla<\/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=\"542578\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"542578\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/542578\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542578\" class=\"content-area-description single-story post-542578 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/whatsnext.enterprise.press\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/New-Banners-English-v2_1600-text-1.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"542579\" 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=\"542579\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/fashion-marketplace-gahez-gets-usd-2-mn-pre-seed-investment\/\">\r\n                            Fashion marketplace Gahez gets USD 2 mn pre-seed investment                        <\/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\/2022\/01\/04\/fashion-marketplace-gahez-gets-usd-2-mn-pre-seed-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\/2022\/01\/04\/fashion-marketplace-gahez-gets-usd-2-mn-pre-seed-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\/2022\/01\/04\/fashion-marketplace-gahez-gets-usd-2-mn-pre-seed-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=Fashion marketplace Gahez gets USD 2 mn pre-seed investment&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/fashion-marketplace-gahez-gets-usd-2-mn-pre-seed-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\/2022\/01\/04\/fashion-marketplace-gahez-gets-usd-2-mn-pre-seed-investment\/&title=Fashion marketplace Gahez gets USD 2 mn pre-seed 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=Fashion+marketplace+Gahez+gets+USD+2+mn+pre-seed+investment+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F04%2Ffashion-marketplace-gahez-gets-usd-2-mn-pre-seed-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>\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\/2022\/01\/04\/fashion-marketplace-gahez-gets-usd-2-mn-pre-seed-investment\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542579\" class=\"content-area-description single-story post-542579 post type-post status-publish format-standard hentry category-startup-watch tag-e-commerce tag-egypt-ventures tag-enterpriseam tag-entrepreneurship tag-investment-watch tag-startup-watch tag-startups tag-tanmeyah tag-venture-capital wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Fashion marketplace <\/strong><strong><a href=\"https:\/\/gahezmarket.com\/ar_EG\">Gahez<\/a><\/strong><strong> has raised USD 2 mn in a pre-seed funding round<\/strong> led by <a href=\"https:\/\/www.disruptechventures.com\/\">Disruptech Ventures<\/a>, the company announced in <a href=\"https:\/\/www.wamda.com\/2022\/01\/b2b-e-commerce-gahez-raises-2-million-pre-seed-round\">a press release<\/a>. <a href=\"https:\/\/egyptventures.com\/\">Egypt Ventures<\/a>, EFG Hermes\u2019 <a href=\"https:\/\/tanmeyah.com\/\">Tanmeyah<\/a>, LoftyInc Capital\u2019s <a href=\"https:\/\/loftyinccapital.vc\/\">Afropreneurs fund<\/a>, and other angel investors also participated in the round.<\/p>\n<p><strong>About the company:<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8b0607c6-e9cc-4af1-8495-f7d131a1630f\">Launched<\/a> in mid-2021, Gahez operates an online B2B marketplace that connects fashion retailers with suppliers. The company also provides retailers with credit facilities and facilitates settlement with suppliers. Gahez now operates in 16 governorates in Egypt, and currently has more than 15k retailers and 142 manufacturers on its platform.<\/p>\n<p><strong>Where the money is going:<\/strong> The startup will use the funds to expand its team and develop its tech infrastructure.<\/p>\n<p><strong>What they said:<\/strong> \u201cWe are excited to support Gahez\u2019s business expansion plan through our board seat and strategic input,\u201d said Mohamed Okasha, managing partner at Disruptech. \u201cThe team is paving the way to digitising the region\u2019s fashion wholesale market. With this investment, I am certain that they will be able to fulfil their targeted milestones.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-commerce\/\">e-commerce<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-ventures\/\">Egypt Ventures<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/entrepreneurship\/\">entrepreneurship<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tanmeyah\/\">Tanmeyah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/venture-capital\/\">venture capital<\/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=\"542580\" 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=\"542580\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/credit-agricole-egypt-cfo-resigns\/\">\r\n                            Credit Agricole Egypt CFO resigns                        <\/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\/2022\/01\/04\/credit-agricole-egypt-cfo-resigns\/\" 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\/2022\/01\/04\/credit-agricole-egypt-cfo-resigns\/')\">\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\/2022\/01\/04\/credit-agricole-egypt-cfo-resigns\/\">\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=Credit Agricole Egypt CFO resigns&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/credit-agricole-egypt-cfo-resigns\/\">\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\/2022\/01\/04\/credit-agricole-egypt-cfo-resigns\/&title=Credit Agricole Egypt CFO resigns\">\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=Credit+Agricole+Egypt+CFO+resigns+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F04%2Fcredit-agricole-egypt-cfo-resigns%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\/2022\/01\/04\/credit-agricole-egypt-cfo-resigns\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542580\" class=\"content-area-description single-story post-542580 post type-post status-publish format-standard hentry category-moves tag-banking tag-credit-agricole tag-enterpriseam tag-moves wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Credit Agricole Egypt\u2019s chief financial officer and IR officer, Hany Nassef<\/strong> (<a href=\"https:\/\/www.linkedin.com\/in\/hany-nassef-4533118?originalSubdomain=eg\">LinkedIn<\/a>) <strong>resigned<\/strong> from his position effective 31 December, the bank said in <a href=\"https:\/\/ent.news\/2022\/1\/272720_1.pdf\">a regulatory filing (pdf)<\/a> on Sunday. The disclosure did not give a reason for the resignation, name an interim replacement. or say when Nassef\u2019s position is expected to be filled.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/credit-agricole\/\">Credit Agricole<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"542581\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"542581\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/542581\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542581\" class=\"content-area-description single-story post-542581 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.sodic.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/Tactical-Male-1600WX800H-for-web.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"542582\" 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=\"542582\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/last-nights-talk-shows-pundits-react-to-record-export-revenues-transport-minister-talks-train-tix-light-rail\/\">\r\n                            Last Night\u2019s Talk Shows: Pundits react to record export revenues, transport minister talks train tix, light rail                        <\/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\/2022\/01\/04\/last-nights-talk-shows-pundits-react-to-record-export-revenues-transport-minister-talks-train-tix-light-rail\/\" 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\/2022\/01\/04\/last-nights-talk-shows-pundits-react-to-record-export-revenues-transport-minister-talks-train-tix-light-rail\/')\">\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\/2022\/01\/04\/last-nights-talk-shows-pundits-react-to-record-export-revenues-transport-minister-talks-train-tix-light-rail\/\">\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=Last Night\u2019s Talk Shows: Pundits react to record export revenues, transport minister talks train tix, light rail&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/last-nights-talk-shows-pundits-react-to-record-export-revenues-transport-minister-talks-train-tix-light-rail\/\">\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\/2022\/01\/04\/last-nights-talk-shows-pundits-react-to-record-export-revenues-transport-minister-talks-train-tix-light-rail\/&title=Last Night\u2019s Talk Shows: Pundits react to record export revenues, transport minister talks train tix, light rail\">\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=Last+Night%E2%80%99s+Talk+Shows%3A+Pundits+react+to+record+export+revenues%2C+transport+minister+talks+train+tix%2C+light+rail+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F04%2Flast-nights-talk-shows-pundits-react-to-record-export-revenues-transport-minister-talks-train-tix-light-rail%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\/2022\/01\/04\/last-nights-talk-shows-pundits-react-to-record-export-revenues-transport-minister-talks-train-tix-light-rail\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542582\" class=\"content-area-description single-story post-542582 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-enterpriseam tag-kamel-el-wazir tag-last-nights-talk-shows tag-trade tag-transport tag-transport-ministry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Leading coverage on the nation\u2019s talk shows last night: last year\u2019s record export <\/strong><strong>revenues.<\/strong> The announcement by Prime Minister Moustafa Madbouly on Sunday that Egypt\u2019s export revenues reached a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9f12d3c8-c550-4b95-89d6-74b63b3c63fa\">record high of USD 31 bn<\/a> in 2021 earned attention from most of the talking heads last night. El Hekaya (<a href=\"https:\/\/www.youtube.com\/watch?v=I2oSgeP35EM\">watch, runtime: 2:56<\/a>), Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=ZOK5euG2PYE\">watch, runtime: 1:04<\/a>) and Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=kwfQeKF-MZo\">watch, runtime: 5:35<\/a>) all had coverage.<\/p>\n<p><strong>Transport Minister Kamel El Wazir<\/strong> phoned in to Ala Mas\u2019ouleety for an extended interview with show host Ahmed Moussa to provide updates on some of the government&#39;s transport projects (<a href=\"https:\/\/www.youtube.com\/watch?v=8AS8ECpKclw\">watch, runtime: 1:16:15<\/a>). Here are the highlights:<\/p>\n<p><strong>Train ticket prices rising?<\/strong> The ministry is considering hiking train fares and is currently holding public consultations on the matter, El Wazir said (<a href=\"https:\/\/www.youtube.com\/watch?v=d4rBYAAqgYY\">watch, runtime: 5:52<\/a>). The minister didn\u2019t disclose how much ticket prices could rise, but said that any changes may not be introduced until the new fiscal year, which starts on 1 July.<\/p>\n<p><strong>Light rail to open in the next six months:<\/strong> The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/89cb9259-bf42-42bc-acdb-354768318727\">light rail line<\/a> connecting Salam City to 10th of Ramadan via the new capital will open to the public by the end of 2Q2022, El Wazir said. Construction work on the stations has been completed and trial operations have begun, he said. The line was originally expected <a href=\"https:\/\/m.akhbarelyom.com\/news\/newdetails\/3560500\/1\/%D8%A7%D9%84%D8%A3%D9%86%D9%81%D8%A7%D9%82--%D8%A5%D9%86%D8%AA%D9%87%D8%A7%D8%A1-%D9%85%D8%AD%D8%B7%D8%A7%D8%AA-%D8%A7%D9%84%D9%82%D8%B7%D8%A7%D8%B1-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A6%D9%8A-%D8%A8%D9%86%D8%B3%D8%A8%D8%A9-100-..-%D9%88%D8%A7%D9%84%D8%A7%D9%81%D8%AA%D8%AA%D8%A7%D8%AD-%D9%81%D9%8A-%D9%87%D8%B0%D8%A7-%D8%A7%D9%84%D9%85%D9%88%D8%B9%D8%AF--%D8%AE%D8%A7%D8%B5\">to be operational this month<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kamel-el-wazir\/\">Kamel El Wazir<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport-ministry\/\">Transport Ministry<\/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=\"542583\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      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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=\"542584\" 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=\"542584\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/egypt-in-the-news-egyptian-palestinian-activist-ramy-shaath-released-from-detention\/\">\r\n                            Egypt in the News: Egyptian-Palestinian activist Ramy Shaath released from detention                        <\/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\/2022\/01\/04\/egypt-in-the-news-egyptian-palestinian-activist-ramy-shaath-released-from-detention\/\" target=\"_blank\">\n                    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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=Egypt+in+the+News%3A+Egyptian-Palestinian+activist+Ramy+Shaath+released+from+detention+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F04%2Fegypt-in-the-news-egyptian-palestinian-activist-ramy-shaath-released-from-detention%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\/2022\/01\/04\/egypt-in-the-news-egyptian-palestinian-activist-ramy-shaath-released-from-detention\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542584\" class=\"content-area-description single-story post-542584 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-enterpriseam tag-human-rights wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>This morning in the foreign press:<\/strong> Egypt\u2019s public prosecutor has allowed Egyptian-Palestinian activist <strong>Ramy Shaath<\/strong> to be released from detention, almost two-and-a-half years after he was <a href=\"https:\/\/enterprise.press\/stories\/2019\/08\/22\/egypt-arrests-prominent-palestinian-politicians-son\/\">arrested<\/a> by security forces, judicial sources told <a href=\"https:\/\/www.timesofisrael.com\/egypt-frees-son-of-palestinian-official-a-bds-activist-after-2-5-years-in-custody\/\">AFP<\/a>. Shaath, the son of senior Palestinian politician Nabil Shaath and a founder of the BDS boycott movement against Israel, was detained in July 2019 and held on charges of collaborating with a terrorist organization. Shaath will now be deported from the country, a member of Egypt\u2019s human rights council <a href=\"https:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/454587\/Egypt\/Politics-\/Egypt-releases-Palestinian-activist-Ramy-Shaath;-s.aspx\">said yesterday<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/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=\"542585\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"542586\" 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=\"542586\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/malta-breaks-ground-on-subsea-internet-cable-connecting-to-egypt\/\">\r\n                            Malta breaks ground on subsea internet cable connecting to Egypt                        <\/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\/2022\/01\/04\/malta-breaks-ground-on-subsea-internet-cable-connecting-to-egypt\/\" 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\/2022\/01\/04\/malta-breaks-ground-on-subsea-internet-cable-connecting-to-egypt\/')\">\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\/2022\/01\/04\/malta-breaks-ground-on-subsea-internet-cable-connecting-to-egypt\/\">\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=Malta breaks ground on subsea internet cable connecting to Egypt&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/malta-breaks-ground-on-subsea-internet-cable-connecting-to-egypt\/\">\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\/2022\/01\/04\/malta-breaks-ground-on-subsea-internet-cable-connecting-to-egypt\/&title=Malta breaks ground on subsea internet cable connecting to Egypt\">\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=Malta+breaks+ground+on+subsea+internet+cable+connecting+to+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F04%2Fmalta-breaks-ground-on-subsea-internet-cable-connecting-to-egypt%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\/2022\/01\/04\/malta-breaks-ground-on-subsea-internet-cable-connecting-to-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542586\" class=\"content-area-description single-story post-542586 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-cit tag-cyprus tag-enterpriseam tag-infrastructure-watch tag-manufacturing tag-telecom-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Malta breaks ground on telecom cable connecting to Egypt:<\/strong> Malta yesterday began laying a 55 km-long subsea telecommunications cable that will link the country to a longer subsea line stretching from France to Egypt via Cyprus, <a href=\"https:\/\/timesofmalta.com\/articles\/view\/cable-laying-starts-on-new-undersea-telecoms-link.925300\">Times of Malta<\/a>reported. The Malta branch of the cable, set to be fully operational by March, is part of the 15k-km long <a href=\"http:\/\/www.peacecable.net\/#about\">Pakistan, East Africa and Europe for Connecting International Networks<\/a> (PEACE) internet cable that is planned to run from France to Asia and down the east coast of Africa via Egypt.<\/p>\n<p><strong>Our part in PEACE: <\/strong><a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/02\/usd-3-bn-in-chinese-financing-for-egypt-as-el-sisi-deepens-ties-with-china-at-belt-and-road-forum-in-beijing\/\">Telecom Egypt signed<\/a> a USD 45 mn landing agreement for the PEACE cable across Egypt in 2015. The cable will cross Egypt through new terrestrial routes between the Zafarana and Abou Talat cable landing stations, TE <a href=\"https:\/\/ir.te.eg\/en\/CorporateNews\/PressRelease\/105\/Telecom-Egypt-signs-landing-party-agreement-for-PEACE-cable-system\">said in 2019<\/a>. The Abou Talat-Cyprus stretch of the cable was completed in August last year, according to Times of Malta.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li>Office furniture importer and distributor <strong><a href=\"https:\/\/www.keendexegypt.com\/index.php\">Keendex<\/a><\/strong> is looking to build an <strong>EGP 50 mn <\/strong><strong>factory <\/strong>in Sixth of October city, company head <a href=\"https:\/\/alborsaanews.com\/2022\/01\/03\/1496097\">Mostafa Ibrahim said<\/a>.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cit\/\">CIT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cyprus\/\">Cyprus<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure-watch\/\">infrastructure watch<\/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\/telecom-egypt\/\">Telecom Egypt<\/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=\"542587\" 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=\"542587\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/global-weekly-covid-cases-hit-record-high-delta-is-still-the-dominant-strain-in-egypt\/\">\r\n                            Global weekly covid cases hit record high, delta is still the dominant strain in Egypt                        <\/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\/2022\/01\/04\/global-weekly-covid-cases-hit-record-high-delta-is-still-the-dominant-strain-in-egypt\/\" 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\/2022\/01\/04\/global-weekly-covid-cases-hit-record-high-delta-is-still-the-dominant-strain-in-egypt\/')\">\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\/2022\/01\/04\/global-weekly-covid-cases-hit-record-high-delta-is-still-the-dominant-strain-in-egypt\/\">\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=Global weekly covid cases hit record high, delta is still the dominant strain in Egypt&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/global-weekly-covid-cases-hit-record-high-delta-is-still-the-dominant-strain-in-egypt\/\">\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\/2022\/01\/04\/global-weekly-covid-cases-hit-record-high-delta-is-still-the-dominant-strain-in-egypt\/&title=Global weekly covid cases hit record high, delta is still the dominant strain in Egypt\">\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=Global+weekly+covid+cases+hit+record+high%2C+delta+is+still+the+dominant+strain+in+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F04%2Fglobal-weekly-covid-cases-hit-record-high-delta-is-still-the-dominant-strain-in-egypt%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\/2022\/01\/04\/global-weekly-covid-cases-hit-record-high-delta-is-still-the-dominant-strain-in-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542587\" class=\"content-area-description single-story post-542587 post type-post status-publish format-standard hentry category-covid-watch tag-covid-19 tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Global weekly covid cases hit a record 10 mn <\/strong>as the surge in omicron infections smashed the previous record of 5.7 mn weekly cases, reported <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-03\/weekly-covid-cases-pass-10-million-doubling-previous-record?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a> \u2014 and that\u2019s without counting the rising number of people opting for at-home testing or not to test at all.<\/p>\n<p><strong>On the bright side: <\/strong>Weekly covid deaths continue to fall globally, adding weight to early evidence that omicron is less severe than other strains.<\/p>\n<p><strong>Many pundits are now suggesting we need to <\/strong><strong><a href=\"https:\/\/www.nytimes.com\/live\/2022\/01\/03\/world\/omicron-covid-vaccine-tests\/fauci-says-hes-more-concerned-about-the-strain-to-hospitals-than-the-record-number-of-cases\">pay more attention to death and hospitalization rates<\/a><\/strong> with Omicron than we do to overall infection rates, given that omicron is generally less severe than illness caused by the delta variant \u2014 particularly in people who have already been vaccinated, boosted or previously infected.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>The delta covid-19 variant remains the dominant strain in Egypt<\/strong>, despite the spread of omicron, head of the government\u2019s covid committee, Hossam Hosni, said on Al Hadath Al Youm on Sunday (<a href=\"https:\/\/www.youtube.com\/watch?v=KrANwt7CLwo\">watch, runtime: 6:19<\/a>). It is unclear how far omicron \u2014 a more transmissible though potentially less virulent variant of the virus \u2014 has penetrated Egypt, though Hosni said it is \u201crapidly spreading.\u201d<\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/241412778169944&sa=D&source=docs&ust=1641254871814382&usg=AOvVaw0iH4ccgH_4r7z5-Lz6psLQ\">reported<\/a><\/strong><strong> 723 new covid-19 infections yesterday<\/strong>, down from 801 the day before. Egypt has now disclosed a total of 387,882 confirmed cases of covid-19. The ministry also reported 20 new deaths, bringing the country\u2019s total death toll to 21,817.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/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=\"542588\" 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=\"542588\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/us-stocks-opened-2022-with-fresh-highs-but-treasury-yields-soared-in-worst-start-since-2009\/\">\r\n                            US stocks opened 2022 with fresh highs but treasury yields soared in worst start since 2009                        <\/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\/2022\/01\/04\/us-stocks-opened-2022-with-fresh-highs-but-treasury-yields-soared-in-worst-start-since-2009\/\" 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 S&amp;P 500 climbed 0.6% to an all-time high, while the Nasdaq closed 1.1% in the green and the Dow rose 0.7%.<\/p><p><strong>Concerns over rising borrowing costs were felt in the treasury market:<\/strong> The US 10-year note had its worst start to a year since 2009, as a sell-off pushed the yield up 13 basis points to 1.64%. The greenback gained 0.7%.<\/p><p><strong>Alpha Dhabi has bought an additional 17% stake in the UAE\u2019s Aldar Properties in a <\/strong><strong>USD 1.5 bn transaction<\/strong>, bringing its total stake to 29.8%, <a href=\"https:\/\/ent.news\/2022\/1\/EN-Alpha-Dhabi-H-raises-stake-in-Aldar-to-30.pdf\">according to a statement (pdf)<\/a>. The acquisition makes the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a6eadb21-0382-4b9b-873c-2a108e61d8b3\">International Holding Company subsidiary<\/a> one of the largest shareholders in Aldar \u2014 the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6ff33ea0-89c5-479c-87c3-bace1f57c63c\">new co-owners<\/a> of Egyptian real estate giant SODIC alongside Abu Dhabi sovereign wealth fund ADQ.<\/p><p><strong>Failing<\/strong> <strong>Evergrande kicks off 2022 with trading halt: <\/strong>The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d01b3fc9-6917-4576-bbcc-213d8bdd1a01\">crumbling<\/a> Chinese real estate giant\u2019s shares were suspended from trading yesterday, before it confirmed that it had been ordered to tear down some under-construction buildings, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-03\/shares-suspended-from-trading-in-hong-kong-evergrande-update?sref=mmeFTDW1\">Bloomberg<\/a> reports.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>11,897<\/p>\n<\/td>\n<td>\n<p>-0.1% (YTD: -0.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>11,327<\/p>\n<\/td>\n<td>\n<p>0.0% (YTD: +0.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>8,465<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: -0.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,191<\/p>\n<\/td>\n<td>\n<p>-0.2% (YTD: -0.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,797<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: +0.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,385<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: 0.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 78.98<\/p>\n<\/td>\n<td>\n<p>+1.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 3.83<\/p>\n<\/td>\n<td>\n<p>+0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,804.30<\/p>\n<\/td>\n<td>\n<p>+0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 46,071<\/p>\n<\/td>\n<td>\n<p>-2.0% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 fell 0.1% yesterday <\/strong>on turnover of EGP 908 mn (29.8% below the 90-day average). Foreign investors were net sellers. The index is down 0.4% YTD.<\/p><p><strong>In the green: <\/strong>MM Group (+11.0%), Rameda (+2.5%) and Abu Qir Fertilizers (+2.2%).<\/p><p><strong>In the red: <\/strong>Credit Agricole Egypt (-3.8%), Sidi Kerir Petrochemicals (-2.7%) and Aspire Capital (-2.4%).<\/p><p><strong>It\u2019s a mixed day in Asia this morning<\/strong>: Markets in China, Hong Kong and South Korea are down, while the Nikkei and the ASX are solidly in the green. Stock futures suggest that most European bourses will see early gains later this morning while US shares will fall.<\/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\/aldar-properties\/\">Aldar Properties<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alpha-dubai\/\">Alpha Dubai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/evergrande\/\">Evergrande<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nasdaq\/\">Nasdaq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sp-500\/\">S&amp;P 500<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/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=\"542589\" 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=\"542589\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/erdogan-to-make-bridge-mending-visit-to-ksa\/\">\r\n                            Erdogan to make bridge-mending visit to KSA                        <\/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\/2022\/01\/04\/erdogan-to-make-bridge-mending-visit-to-ksa\/\" 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\/2022\/01\/04\/erdogan-to-make-bridge-mending-visit-to-ksa\/')\">\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\/2022\/01\/04\/erdogan-to-make-bridge-mending-visit-to-ksa\/\">\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=Erdogan to make bridge-mending visit to KSA&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/erdogan-to-make-bridge-mending-visit-to-ksa\/\">\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\/2022\/01\/04\/erdogan-to-make-bridge-mending-visit-to-ksa\/&title=Erdogan to make bridge-mending visit to KSA\">\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=Erdogan+to+make+bridge-mending+visit+to+KSA+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F04%2Ferdogan-to-make-bridge-mending-visit-to-ksa%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\/2022\/01\/04\/erdogan-to-make-bridge-mending-visit-to-ksa\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542589\" class=\"content-area-description single-story post-542589 post type-post status-publish format-standard hentry category-around-the-world tag-abdalla-hamdok tag-around-the-world tag-diplomacy tag-enterpriseam tag-libya tag-oil-and-gas tag-politics tag-recep-tayyip-erdogan tag-saudi-arabia tag-sudan tag-turkey tag-us wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Turkey-Saudi rapprochement in the cards?<\/strong> Turkish president Recep Tayyip Erdogan will visit Saudi Arabia in February as the two countries work to mend ties following the murder of Jamal Khashoggi in the kingdom\u2019s consultate in Istanbul in 2018. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-03\/erdogan-to-visit-saudi-arabia-in-february-as-rivalries-ease?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a>)<\/p>\n<p><strong>Also worth knowing this morning:<\/strong><\/p>\n<ul>\n<li><strong>The US is urging leaders in Sudan to ensure civilian rule following Prime<\/strong><strong> Minister Abdalla Hamdok\u2019s resignation<\/strong>, as the country continues to endure violence and a widening political divide. (<a href=\"https:\/\/www.reuters.com\/world\/africa\/us-calls-civilian-rule-sudan-after-hamdok-quits-premier-2022-01-03\/\">Reuters<\/a>).<\/li>\n<li><strong>Libyan oil production is expected to fall by another 200k barrels a day this <\/strong><strong>week<\/strong> due to a damaged pipeline. This comes less than two weeks after Libya\u2019s biggest oil field was shut down by militia, resulting in the country\u2019s output dropping by 350k bbl\/d. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-02\/libya-shuts-down-another-200-000-barrels-a-day-of-oil-production?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdalla-hamdok\/\">Abdalla Hamdok<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/around-the-world\/\">Around the World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/libya\/\">Libya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/recep-tayyip-erdogan\/\">Recep Tayyip Erdogan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sudan\/\">Sudan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/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 vertical-section wide-section going-green wp-block-group issue-section\" id=\"542590\">\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  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href=\"https:\/\/enterpriseam.com\/egypt\/goinggreen\/\">\r\n                            Read going Green                        <\/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\">11<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/egypts-green-economy-whats-to-come-in-2022\/\">\r\n                            Egypt\u2019s green economy: What\u2019s to come in 2022?<\/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\" 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class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/egypts-green-economy-whats-to-come-in-2022\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/46.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=\"542591\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/egypts-green-economy-whats-to-come-in-2022\/46-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/46.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"46.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/46.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/46.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-542590\" class=\"content-area-description post-542590 goinggreen type-goinggreen status-publish has-post-thumbnail hentry tag-ali-abu-senna tag-carbon-disclosure-project tag-center-for-climate-and-energy-solutions tag-cop27 tag-eni tag-enterprise-going-green tag-enterpriseam tag-esg-bonds tag-green-bonds tag-hynet-north-west tag-mahmoud-abouelnaga tag-rania-al-mashat tag-sustainable-development-bonds tag-tarek-el-molla wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>Egypt\u2019s green economy: What\u2019s to come in 2022?<\/strong> Since Egypt\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a925d015-f57e-4886-9f6d-db7a15c76bd3\">selection as host of<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a925d015-f57e-4886-9f6d-db7a15c76bd3\">COP27<\/a> in November, questions have abounded about what to expect from the climate summit itself, as well as the run-up to the global event. Experts say it could push the government to set new targets in areas like emissions reduction, while renewable energy players hope it might spur reforms that bolster their industries, which remain squeezed by high imported material costs. Meanwhile, the summit will likely prioritize offering Egypt and other emerging markets chances to secure large-scale climate financing, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4830c05b-7cf2-4399-9d96-0febc067bbe3\">officials have signaled<\/a>.<\/p>\n<p><strong>By virtue of being the summit hosts, our climate action will come under the spotlight: <\/strong>COP27 will probably see the government commit to new targets for fossil fuel reduction, renewables generation capacity and energy efficiency, Mohamed Mansour, the co-founder and CEO of renewable energy solutions provider <a href=\"https:\/\/www.weareinfinity.com\/en\/About-Us\">Infinity<\/a>, tells us. As the summit host, we\u2019ll face big questions about updating <a href=\"https:\/\/www4.unfccc.int\/sites\/ndcstaging\/PublishedDocuments\/Egypt%20First\/Egyptian%20INDC.pdf\">our Nationally Determined Contributions (pdf)<\/a>, says Mahmoud Abouelnaga, an energy and environment analyst and solutions fellow at the US-based, independent <a href=\"https:\/\/www.c2es.org\/\">Center for Climate and Energy Solutions<\/a>. \u201cI\u2019d say we need to be more quantitative in our targets. Our indices are more descriptive \u2014 we talk about what we need to do, but not how much we need to do,\u201d Abouelnaga notes.<\/p>\n<p><strong>Case in point: <\/strong>We still don\u2019t know much about the Environment Ministry\u2019s 2050 climate strategy, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/46eb0c0b-2e62-47e0-8423-05c5359f3275\">launched in early November<\/a>.<\/p>\n<p><strong>The private sector will also feel the heat:<\/strong> Businesses in the region will come under pressure as Egypt hosts COP27 and the UAE hosts COP28, says Abouelnaga. While the Sisi administration <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/46eb0c0b-2e62-47e0-8423-05c5359f3275\">has become more ambitious<\/a> with its climate targets, and <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/uae-launches-plan-achieve-net-zero-emissions-by-2050-2021-10-07\/\">the UAE<\/a> and <a href=\"https:\/\/apnews.com\/article\/climate-business-middle-east-dubai-united-arab-emirates-1335e47922965f7db43f5e7057cf7265\">Saudi Arabia<\/a> are targeting net zero emissions by 2050 and 2060 respectively, \u201cwe haven\u2019t seen similar announcements from businesses in the region, even though they try to compete with their peers on all other development indicators,\u201d he adds. <strong>\u201cI\u2019m looking forward to seeing the pressure on these businesses and how they\u2019ll react to it.\u201d<\/strong><\/p>\n<p><strong>Egypt will launch several climate-related initiatives at COP27<\/strong>, <a href=\"https:\/\/www.cnbc.com\/video\/2021\/11\/15\/egypts-petroleum-minister-says-carbon-capture-will-be-very-important-for-the-energy-industry.html\">according to<\/a> Oil Minister Tarek El Molla. These include <a href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/194633579518288\">joint initiatives<\/a> between the Oil Ministry and Italian energy firm Eni on carbon capture, which, if similar to Eni\u2019s <a href=\"https:\/\/hynet.co.uk\/\">HyNet North West<\/a> project, could aim to capture and store 10 mn tons of industrial CO2 annually by 2030. Eni <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4ed7b3c1-2514-4f68-9b61-11486f0e348a\">will provide support<\/a> on technical and economic feasibility studies for the Egypt project. Representatives of Mitsubishi have <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0393bae3-63d8-4053-935f-39e95f3e8377\">also discussed<\/a> working with the government on carbon capture projects.<\/p>\n<p><strong>New green hydrogen and desalination projects could be on the table:<\/strong> <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/353347579487310\">Last year\u2019s directive<\/a> from President Abdel Fattah El Sisi to establish Egypt\u2019s green hydrogen strategy could yield an initial phase of green hydrogen projects <a href=\"https:\/\/enterprise.press\/greeneconomys\/green-economy-2021-part\/#:~:text=In%20July%2C%20President%20Abdel%20Fattah%20El%20Sisi%20issued%20a%20directive%20to%20establish%20Egypt%E2%80%99s%20green%20hydrogen%20strategy%2C%20with%20a%20view%20to%20launching%20an%20initial%20phase%20of%20projects%20that%20could%20be%20worth%20USD%203%2D4%20bn.\">possibly worth<\/a> USD 3-4 bn. A <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d7f65631-b26f-45aa-a4de-a2daadb77981\">developer consortium<\/a> of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6ebef003-0472-4513-93aa-ef59d457a5ea\">Orascom Construction<\/a>, Norway\u2019s Scatec, Nassif Sawiris-backed Fertiglobe, and the Sovereign Fund of Egypt is building a 100 MW green hydrogen plant in Ain Sokhna, set to come online by 2024. We\u2019ll hear updates on this project at COP27, Infinity\u2019s Mansour tells Enterprise. The administration will also announce and award desalination projects to renewable energy companies, he adds.<\/p>\n<p><strong>And the summit will help continue pushing the drive for cleaner transport:<\/strong> All cars and buses in Sharm El Sheikh and Hurghada will be converted to run on natural gas or swapped for EVs <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/273984144772013\">by the time<\/a> COP27 kicks off, indicating the <a href=\"https:\/\/enterprise.press\/hardhats\/feasible-plan-convert-vehicles-natgas-gasoline-national-scale\/\">natgas transition scheme<\/a> and <a href=\"https:\/\/enterprise.press\/greeneconomys\/egypts-ev-plans-post-dongfeng\/\">push towards<\/a> local EV assembly and charging infrastructure will remain priorities. \u201cThe fact that you have half the country covered with EV charging stations today is a big statement, and hopefully when COP27 comes around, we\u2019ll have the whole country covered,\u201d says Mansour. <a href=\"https:\/\/enterprise.press\/greeneconomys\/egypts-ev-plans-post-dongfeng\/\">Infinity is building<\/a> the infrastructure of EV charging stations across Egypt.<\/p>\n<p><strong>Some renewables players are hoping COP27 will spur regulatory changes: <\/strong>\u201cAs COP27 occurs, we hope Egypt fine-tunes its regulations to support home-grown renewables companies,\u201d <a href=\"https:\/\/www.cairo-solar.com\/\">Cairo Solar<\/a> Managing Director and <a href=\"https:\/\/seda-eg.info\/ssa\/en\/\">Solar Energy Development Association (SEDA)<\/a> spokesperson Hatem Tawfik tells us. The solar industry wants to increase to 5% recent quotas allowing each one of Egypt\u2019s eight electricity distribution companies to only use solar energy for 1.5% of its entire supply, he adds. Companies working in waste-to-energy (WtE) want to see a gate fee introduced for treating waste, says Metwalli Elnoubi, founder of waste management firm <a href=\"https:\/\/envirotaqa.com\/\">EnviroTaqa<\/a>.<\/p>\n<p><strong>A key regulatory change renewables players want to see is a rework of tariffs and fees: <\/strong>The solar industry wants to scrap a <a href=\"https:\/\/www.pv-magazine.com\/2020\/09\/28\/egypt-to-impose-merger-fee-on-net-metered-solar\/\">proposed merger fee<\/a> of EGP 0.10-0.40\/kWh on net-metered solar systems announced last year, for solar stations under 500 kWp, and decide what the merger fee will be for stations over 500 kWp, Tawfik says. <a href=\"https:\/\/enterprise.press\/greeneconomys\/waste-energy-isnt-getting-off-ground-can-done\/\">WtE companies<\/a> have said selling electricity at the current feed-in tariff (FiT) rate of EGP 1.4\/Kwh simply isn\u2019t profitable. And EV charging tariffs \u2014 set at 1.69 EGP\/kWh for public charging stations and 1.89 EGP\/kWh for charging stations within privately-owned establishments, with a fast-charging tariff set at 3.75 EGP\/kWh for public and private establishments \u2014 aren\u2019t particularly lucrative, both Mansour and Shams Abdel Ghaffar, managing director of Infinity EV, <a href=\"https:\/\/enterprise.press\/greeneconomys\/egypts-ev-plans-post-dongfeng\/\">have told Enterprise<\/a>.<\/p>\n<p><strong>These players are facing cost crunches from <\/strong><strong><a href=\"https:\/\/enterprise.press\/greeneconomys\/global-commodities-boom-putting-egyptian-solar-players-pressure\/\">supply chain disruptions<\/a><\/strong><strong>, expected to continue in 2022: <\/strong>Solar panel prices remain very high, and suppliers closely connected with Chinese manufacturers don\u2019t expect them to decrease until at least June 2022, due to stagflation, says Tawfik. \u201cI\u2019d expect we might reach pre-covid prices by 2H 2023,\u201d he adds. Supply chain disruptions are a major issue, EnviroTaqa\u2019s Elnoubi agrees: \u201cFor wind, WtE, hydropower and other renewables, we\u2019re dependent on imports. Supply chain disruptions will affect pricing in 2022.\u201d<\/p>\n<p><strong>Perhaps more than anything, COP27 will spur a big push for large-scale green funding: <\/strong>COP27 is a <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/innovative-financing-can-help-unlock-promises-egypts-cop27-minister-2021-12-02\/\">chance to emphasize<\/a> that emerging markets need financial support to meet climate commitments, and to bring innovative financing \u2014 like concessional lending, International Cooperation Minister Rania Al Mashat <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4830c05b-7cf2-4399-9d96-0febc067bbe3\">said recently<\/a>.<\/p>\n<p><strong>Several Egypt-focused green funding prospects are already on the horizon:<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0e36ce95-56ba-4e40-b891-915cf0c78a3c\">Egypt could be<\/a> targeted in BlackRock\u2019s new USD 673 mn climate-focused infrastructure fund. We <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ef5bb7ad-6f4d-41d0-9f8c-1bca27980648\">could receive<\/a> up to EUR 1 bn from the EU over the next six years, focused on water security. And Allianz Global Investors and the European Investment Bank <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bc788843-7896-417a-82e4-02ad38d1c55a\">are establishing<\/a> a new EUR 500 mn emerging market climate-focused fund, though it\u2019s unclear if Egypt is targeted.<\/p>\n<p><strong>Along with new ESG and sustainable development bonds:<\/strong> CIB became the first in Egypt to issue corporate green bonds last year, <a href=\"https:\/\/pressroom.ifc.org\/all\/pages\/PressDetail.aspx?ID=26548\">selling USD 100 mn<\/a> of the climate-linked securities to the International Finance Corporation. However, CIB remains the only company to-date that has issued the bonds. Companies <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4936aed7-6841-46cc-b4bd-fabf94700cff\">will soon be able<\/a> to list ESG and sustainable development bonds on the EGX, and a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bc6beda9-6d4c-403b-a76c-840eb4f6d06d\">fresh offering<\/a> of corporate green bonds are coming, with unnamed private sector players planning to issue USD 120-200 mn-worth of the climate-friendly securities.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top climate stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>More action to cut emissions needed?<\/strong> Green energy advocates <a href=\"https:\/\/www.thenationalnews.com\/mena\/egypt\/2022\/01\/02\/egypts-solar-power-sector-hotting-up-but-businesses-still-need-to-make-profit\/\">are calling on<\/a> Egypt to look beyond solar power in efforts to reduce carbon emissions.<\/li>\n<li><strong>Was 2021 really the year of ESG?<\/strong> Shares of oil and gas companies <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7f913f32-5e92-4df8-a9ff-78c698893b3e\">outperformed ESG funds<\/a> last year.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ali-abu-senna\/\">Ali Abu Senna<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/carbon-disclosure-project\/\">Carbon Disclosure Project<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/center-for-climate-and-energy-solutions\/\">Center for Climate and Energy Solutions<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eni\/\">Eni<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/esg-bonds\/\">ESG bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-bonds\/\">green bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hynet-north-west\/\">HyNet North West<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mahmoud-abouelnaga\/\">Mahmoud Abouelnaga<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/rania-al-mashat\/\">Rania Al Mashat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sustainable-development-bonds\/\">sustainable development bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tarek-el-molla\/\">Tarek El Molla<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\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=\"542592\" 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\/2022\/01\/04\/542592\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542592\" class=\"content-area-description single-story post-542592 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Early 2022: Results <a href=\"https:\/\/www.elwatannews.com\/news\/details\/5876314\">to be announced<\/a> for the second round of the state\u2019s gold and precious metals auction.<\/p>\n<p>1H2022: Target date for IDH to close its acquisition of 50% of Islamabad Diagnostic Center.<\/p>\n<p>1H2022: The World Economic Forum annual meeting, location TBD.<\/p>\n<p>1H2022: e-Finance\u2019s digital healthcare service platform, eHealth, will launch its services.<\/p>\n<p>1H2022: The government will respond to private companies\u2019 bids to build desalination plants.<\/p>\n<p>1Q2022: <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9cd1fc44-1593-4317-8658-0aa792215521\">Launch of the Egyptian Commodities Exchange<\/a>.<\/p>\n<p>1Q2022: Swvl acquisition of Viapool expected to close.<\/p>\n<p>1Q2022: Waste collection startup Bekia plans to expand to the UAE and Saudi Arabia.<\/p>\n<p>January: Tenth of Ramadan dry port tender to be launched.<\/p>\n<p>1-15 January (Saturday-Saturday): Qualified Industrial Zones (<a href=\"https:\/\/www.trade.gov\/qualifying-industrial-zones\">QIZ<\/a>) Joint Committee.<\/p>\n<p>4 January (Tuesday): OPEC+ ministerial meeting.<\/p>\n<p>6 January (Thursday): National holiday in observance of Coptic Christmas.<\/p>\n<p>7 January (Friday): Coptic Christmas.<\/p>\n<p>9 January - 6 February (Sunday-Sunday): 2021 Africa Cup of Nations, Cameroon.<\/p>\n<p>10-13 January (Monday-Thursday): <a href=\"https:\/\/wyfegypt.com\/\">World Youth Forum<\/a>, Sharm El Sheikh.<\/p>\n<p>Second half of January: Egypt <a href=\"https:\/\/alborsaanews.com\/2021\/11\/23\/1483989\">will host<\/a> the Egyptian-Bahraini Joint Committee.<\/p>\n<p>Second half of January: <a href=\"https:\/\/alborsaanews.com\/2021\/12\/20\/1492507\">Regulations<\/a> for installing EV charging stations will be published.<\/p>\n<p>16 January (Sunday): SODIC shareholders <a href=\"https:\/\/www.egx.com.eg\/ar\/BulletinNews.aspx?BCODE=272510&All=\">will vote<\/a> on the company\u2019s new board of directors at an extraordinary general meeting.<\/p>\n<p>17-19 January (Monday-Wednesday): <a href=\"https:\/\/www.worldfutureenergysummit.com\/en-gb.html\">World Future Energy Summit<\/a>, Abu Dhabi.<\/p>\n<p>20 January (Thursday): Kadmar Shipping\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/01ff5c98-c2b7-42a3-9c0f-7e33f4c9e638\">new line<\/a> transporting agricultural crops between Alexandria and Russia begins its operations.<\/p>\n<p>23 January (Sunday): Deadline for Macro Pharma to IPO on the EGX.<\/p>\n<p>25 January (Tuesday): 25 January revolution anniversary \/ Police Day.<\/p>\n<p>27 January (Thursday): National holiday in observance of 25 January revolution anniversary \/ Police Day.<\/p>\n<p>End of January: The Egyptian-Romanian business forum will take place with the aim of strengthening joint investment relations.<\/p>\n<p>January-February 2022: Construction work on the Abu Qir metro upgrade <a href=\"https:\/\/www.youtube.com\/watch?v=vXBilirlgw0\">will begin<\/a>.<\/p>\n<p>February: Hassan Allam Construction\u2019s <a href=\"https:\/\/alborsaanews.com\/2021\/12\/07\/1488592\">new construction firm<\/a> established with Russia\u2019s Titan-2 to handle construction work on the Dabaa nuclear power plant begins its operations.<\/p>\n<p>February: Ghazl El Mahalla shares will begin trading on the EGX this month.<\/p>\n<p>Mid-February: End of grace period to comply with new minimum wage for firms who sent in exemption requests.<\/p>\n<p>3 February (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>4-20 February (Friday-Sunday): 2022 Winter Olympics, Beijing.<\/p>\n<p>11 February (Friday): <a href=\"https:\/\/finance.yahoo.com\/news\/vistas-media-acquisition-company-inc-203000610.html\">Deadline for Anghami SPAC merger<\/a>.<\/p>\n<p>11-13 February (Friday-Sunday) FIBA Intercontinental Cup, Cairo.<\/p>\n<p>14-16 February (Monday-Wednesday): Egypt Petroleum Show, Egypt International Exhibition Center, New Cairo, Egypt.<\/p>\n<p>15 February (Tuesday): The Industrial Development Authority\u2019s deadline for <a href=\"https:\/\/alborsaanews.com\/2021\/11\/21\/1483299\">receiving offers<\/a> from companies for licenses to manufacture steel products.<\/p>\n<p>19 February (Saturday): Public universities begin the second term of the 2021-2022 academic year.<\/p>\n<p>End of February: Lebanon to receive gas from Egypt via a pipeline crossing Jordan and Syria.<\/p>\n<p>March: <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/304519788385115\">Rollout<\/a> of the government financial management information system (GFMIS), a suite of electronic tools to automate the government\u2019s financial management processes (<a href=\"https:\/\/ent.news\/2021\/7\/tnm1007.pdf\">pdf<\/a>) that will replace the existing \u201cclosed\u201d financial management system.<\/p>\n<p>March: 4Q2021 earnings season.<\/p>\n<p>March: Deadline for the World Health Organization\u2019s <a href=\"https:\/\/www.who.int\/news\/item\/01-12-2021-world-health-assembly-agrees-to-launch-process-to-develop-historic-global-accord-on-pandemic-prevention-preparedness-and-response\">intergovernmental negotiating body<\/a> to meet to discuss binding treaty on future pandemic cooperation.<\/p>\n<p>March: World Cup playoffs.<\/p>\n<p>March: Target date for Saudi tech firm Brmaja to IPO on the EGX.<\/p>\n<p>24 March (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>31 March (Thursday): Deadline for submitting tax returns for individual taxpayers.<\/p>\n<p>31 March (Thursday): Supply Ministry expected to take final decision on bread subsidies by this date.<\/p>\n<p>2 April (Saturday): First day of Ramadan (TBC).<\/p>\n<p>3 April (Sunday): Bidding begins on the Industrial Development Authority\u2019s license to manufacture tobacco products.<\/p>\n<p>4 April (Monday): CDC Group will formally change its name to British International Investment.<\/p>\n<p>22-24 April (Friday-Sunday): <a href=\"http:\/\/sdg.iisd.org\/events\/2022-spring-meetings-of-the-world-bank-group-and-the-international-monetary-fund\/\">World Bank-IMF spring meeting<\/a>, Washington D.C.<\/p>\n<p>24 April (Sunday): Coptic Easter Sunday (holiday for Coptic Christians).<\/p>\n<p>25 April (Monday): Sham El Nessim.<\/p>\n<p>25 April (Monday): Sinai Liberation Day.<\/p>\n<p>28 April (Thursday): National Holiday in observance of Sham El Nessim.<\/p>\n<p>30 April (Saturday): Deadline for submitting corporate tax returns for companies whose financial year ends 31 December.<\/p>\n<p>Late April - 15 May: 1Q2022 earnings season<\/p>\n<p>May: Investment in Logistics Conference, Cairo, Egypt.<\/p>\n<p>1 May (Sunday): Labor Day.<\/p>\n<p>5 May (Thursday): National Holiday in observance of Labor Day.<\/p>\n<p>2 May (Monday): Eid El Fitr (TBC).<\/p>\n<p>19 May (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>15-18 June: <a href=\"https:\/\/forumspb.com\/en\/\">St. Petersburg International Economic Forum<\/a> (SPIEF), St. Petersburg.<\/p>\n<p>16 June (Thursday): End of 2021-2022 academic year for public schools.<\/p>\n<p>23 June (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>27 June-3 July (Monday-Sunday): World University Squash Championships, New Giza.<\/p>\n<p>30 June (Thursday): June 30 Revolution Day, national holiday.<\/p>\n<p>End of 2Q2022: The Financial Regulatory Authority\u2019s new Ins. Act should be approved.<\/p>\n<p>End of 1H2022: Emirati industrial company M Glory Holding and the Military Production Ministry will begin the mass production of dual fuel pickup trucks that can run on natural gas.<\/p>\n<p>2H2022: <a href=\"https:\/\/www.ief.org\/news\/egypt-to-host-8th-ief-igu-ministerial-gas-forum-in-2022\">IEF-IGU Ministerial Gas Forum<\/a>, Egypt. Date + location TBA.<\/p>\n<p>July: A law governing ins. for seasonal contractors will come into effect.<\/p>\n<p>8 July (Friday): Arafat Day.<\/p>\n<p>9-13 July (Saturday-Wednesday): Eid Al Adha, national holiday.<\/p>\n<p>30 July (Saturday): Islamic New Year.<\/p>\n<p>Late July - 14 August: 2Q2022 earnings season.<\/p>\n<p>18 August (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>September: Egypt will display its first naval exhibition with the title <a href=\"https:\/\/bit.ly\/3lshDZX\">Naval Power<\/a>.<\/p>\n<p>22 September (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>6 October (Thursday): Armed Forces Day, national holiday.<\/p>\n<p>8 October (Saturday): Prophet Muhammad\u2019s birthday, national holiday.<\/p>\n<p>18-20 October(Tuesday-Thursday): Mediterranean Offshore Conference, Alexandria, Egypt.<\/p>\n<p>Late October - 14 November: 3Q2022 earnings season.<\/p>\n<p>3 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>22 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>End of 2022: e-Aswaaq\u2019s tourism platform will complete the roll out of its ticketing and online booking portal across Egypt.<\/p>\n<p><strong>**Note to readers:<\/strong> Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish above between the actual holiday and its observance.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":542571,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-542570","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"61c94289-9f64-45f8-b230-360bff6ce854","teaser":"","photo_url":"https:\/\/ent.news\/2022\/1\/40.jpg"},"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>Edita won\u2019t acquire Egyptian Belgian Company\u2019s assets after talks collapse - 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\/issues\/edita-wont-acquire-egyptian-belgian-companys-assets-after-talks-collapse\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Edita won\u2019t acquire Egyptian Belgian Company\u2019s assets after talks collapse\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/edita-wont-acquire-egyptian-belgian-companys-assets-after-talks-collapse\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T19:56:17+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/40.jpg?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\/issues\/edita-wont-acquire-egyptian-belgian-companys-assets-after-talks-collapse\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/edita-wont-acquire-egyptian-belgian-companys-assets-after-talks-collapse\/\",\"name\":\"Edita won\u2019t acquire Egyptian Belgian Company\u2019s assets after talks collapse - 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