{"id":542698,"date":"2022-01-12T04:06:26","date_gmt":"2022-01-12T04:06:26","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=542698"},"modified":"2025-12-15T19:59:14","modified_gmt":"2025-12-15T19:59:14","slug":"world-bank-hikes-egypt-growth-forecast-to-5-5-in-2021-2022","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/world-bank-hikes-egypt-growth-forecast-to-5-5-in-2021-2022\/","title":{"rendered":"World Bank hikes Egypt growth forecast to 5.5% in 2021-2022"},"content":{"rendered":"<section id=\"542700\" 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=\"542700\">\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\/12\/this-morning-world-bank-sees-slowdown-in-developing-economies-powell-downplays-rate-hike-impact-egypt-lose-afcon-opener-chimera-launches-new-etf\/\">\r\n                            THIS MORNING: World Bank sees slowdown in developing economies; Powell downplays rate hike impact; Egypt lose Afcon opener; Chimera launches new ETF                        <\/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\/12\/this-morning-world-bank-sees-slowdown-in-developing-economies-powell-downplays-rate-hike-impact-egypt-lose-afcon-opener-chimera-launches-new-etf\/\" 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\/12\/this-morning-world-bank-sees-slowdown-in-developing-economies-powell-downplays-rate-hike-impact-egypt-lose-afcon-opener-chimera-launches-new-etf\/')\">\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\/12\/this-morning-world-bank-sees-slowdown-in-developing-economies-powell-downplays-rate-hike-impact-egypt-lose-afcon-opener-chimera-launches-new-etf\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=THIS MORNING: World Bank sees slowdown in developing economies; Powell downplays rate hike impact; Egypt lose Afcon opener; Chimera launches new ETF&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/12\/this-morning-world-bank-sees-slowdown-in-developing-economies-powell-downplays-rate-hike-impact-egypt-lose-afcon-opener-chimera-launches-new-etf\/\">\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\/12\/this-morning-world-bank-sees-slowdown-in-developing-economies-powell-downplays-rate-hike-impact-egypt-lose-afcon-opener-chimera-launches-new-etf\/&title=THIS MORNING: World Bank sees slowdown in developing economies; Powell downplays rate hike impact; Egypt lose Afcon opener; Chimera launches new ETF\">\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+World+Bank+sees+slowdown+in+developing+economies%3B+Powell+downplays+rate+hike+impact%3B+Egypt+lose+Afcon+opener%3B+Chimera+launches+new+ETF+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F12%2Fthis-morning-world-bank-sees-slowdown-in-developing-economies-powell-downplays-rate-hike-impact-egypt-lose-afcon-opener-chimera-launches-new-etf%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\/12\/this-morning-world-bank-sees-slowdown-in-developing-economies-powell-downplays-rate-hike-impact-egypt-lose-afcon-opener-chimera-launches-new-etf\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542700\" class=\"content-area-description single-story post-542700 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-chimera-investment tag-covid-19 tag-dubai tag-enterpriseam tag-gdp tag-interest-rates tag-sports tag-uae tag-what-were-tracking-today tag-world-youth-forum 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<\/strong>, and happy almost-THURSDAY. We have plenty of good news on the economic front today \u2014 and an encouraging sign that the nation\u2019s sukuk market may be starting to wake up. Less good: The Pharaoh\u2019s lackluster performance at Afcon last night.<\/p><p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Egypt\u2019s Afcon campaign got off to a dismal start yesterday:<\/strong> The Pharoahs lost 1-0 to Nigeria in their opening game of the tournament. Leicester City striker Kelechi Iheanacho put the West African side ahead on the half-hour mark, with a lovely top-corner finish on the half volley. Despite having the lion\u2019s share of possession, the Pharaohs were toothless in attack, registering only two shots on target over the 90 minutes, and will have to improve in their next game against Guinea-Bissau if they want to progress to the next round. The other tie in Group D between Sudan and Guinea-Bissau finished goalless.<\/p><p><strong>MEANWHILE- It\u2019s day three of the<\/strong><strong><a href=\"https:\/\/wyfegypt.com\/\"><\/a><\/strong><strong><a href=\"https:\/\/wyfegypt.com\/\">World Youth Forum<\/a><\/strong><strong> in Sharm El Sheikh<\/strong>. You can check out the<a href=\"https:\/\/wyfegypt.com\/pdf\/en_agenda_2021.pdf\">full agenda for the forum here (pdf)<\/a>.<\/p><p><strong>THE BIG STORIES ABROAD- Powell downplays economic impact of incoming rate hikes:<\/strong> Federal Reserve chair Jay Powell has sought to calm nerves about the bank\u2019s plan to raise interest rates this year, telling senators yesterday that efforts to fight inflation can be done without inflicting harm on the economy. Speaking at his confirmation hearing, Powell reiterated the dangers posed by rapidly rising prices but characterized the end of pandemic-era stimulus as a return to normalcy rather than a hawkish turn towards ultra-restrictive policy. Powell, who was renominated by the Biden administration to lead the Fed for a second term, is trying to navigate a tricky course between calming inflation, which last year reached multi-decade highs, and minimizing damage to the economy.<\/p><p><strong>The story is everywhere in the global business press this morning:<\/strong> <a href=\"https:\/\/www.reuters.com\/business\/feds-powell-heads-hill-hearing-with-inflation-focus-2022-01-11\/\">Reuters<\/a> | <a href=\"https:\/\/www.ft.com\/content\/ddd02d7a-1557-4357-af6f-7c433da1b406\">Financial Times<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-11\/powell-makes-case-for-fed-curbing-inflation-while-doing-no-harm?srnd=premium&amp;sref=mmeFTDW1\">Bloomberg<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/powell-confirmation-hearing-could-shed-more-light-on-plans-to-contain-inflation-11641897004?mod=hp_lead_pos5\">Wall Street Journal<\/a>.<\/p><p><strong>Powell\u2019s words pleased the financial markets<\/strong>, leading US stocks to rebound and calming the sell-off in the bond market.<\/p><p><strong>Yesterday\u2019s rally is continuing in Asia this morning<\/strong>, where indexes across the region are solidly in the black. Futures indicate that shares in the US and Europe will open in the green later today.<\/p><p><strong>READ THIS- China is putting the brakes on its loans to Africa<\/strong>, the Financial Times writes in its <a href=\"https:\/\/www.ft.com\/content\/64b4bcd5-032e-4be5-aa3b-e902f5b1345e\">Big Read<\/a> as controversy continues over what some in Africa (and the west) call its \u201cpredatory\u201d lending \u2014 and one day after Sri Lanka asked Beijing to <a href=\"https:\/\/www.reuters.com\/markets\/rates-bonds\/sri-lankas-president-asks-china-restructure-debt-repayments-2022-01-09\/\">restructure its debt payments<\/a>.<\/p><p><strong>Another day, another covid record in the US:<\/strong> Covid hospitalizations in the US have reached record highs, rising to more than 145k yesterday as the omicron variant sweeps across the nation. The story is all over the US press from the <a href=\"https:\/\/www.washingtonpost.com\/health\/2022\/01\/10\/covid-hospitalized-omicron\/\">Washington Post<\/a> and the <a href=\"https:\/\/www.wsj.com\/articles\/covid-19-hospitalizations-reported-in-u-s-hit-new-high-11641924596?mod=hp_lead_pos1\">Wall Street Journal<\/a> to <a href=\"https:\/\/edition.cnn.com\/world\/live-news\/omicron-variant-coronavirus-news-01-11-22\/index.html\">CNN<\/a> and <a href=\"https:\/\/www.cnbc.com\/2022\/01\/11\/omicron-variant-us-sets-fresh-records-for-covid-hospitalizations-and-cases-with-1point5-million-new-infections.html\">CNBC<\/a>.<\/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>? <strong>FROM THE DUMPSTER FIRE that is our social media <\/strong>on this fine winter morning:<\/p><ul>\n<li><strong>Startup accelerator <\/strong><strong>Y Combinator is getting plenty of attention<\/strong> for its <a href=\"https:\/\/blog.ycombinator.com\/ycs-standard-deal\/?utm_source=pocket_mylist\">new, larger \u201cstandard [offer].\u201d<\/a><\/li>\n<li>As the WHO says it\u2019s <strong><a href=\"https:\/\/www.ft.com\/content\/a783f96e-c963-4dea-b54b-90bc6fda4915\">too early to declare that covid-19 is \u201cendemic,\u201d<\/a><\/strong> Wired reminds us all that the debate is going to be messy: \u201cThe task of 2022 will be figuring out how much action we\u2019re willing to take and <a href=\"https:\/\/www.wired.com\/story\/covid-will-become-endemic-the-world-must-decide-what-that-means\/?client_service_id=31209&amp;client_service_name=wired&amp;service_user_id=1.78e%2016&amp;supported_service_name=instagram_publishing&amp;utm_brand=wired&amp;utm_social_type=owned&amp;utm_source=pocket_mylist\">how much disease and death we\u2019ll tolerate<\/a>.\u201d<\/li>\n<li><strong>2022 is not being nice to star stock picker Cathie Wood<\/strong>, <a href=\"https:\/\/fortune.com\/2022\/01\/11\/cathie-woods-ark-portfolio-is-headed-for-shipwreck-and-plunging-tech-stocks-arent-even-the-worst-of-it\/\">Fortune reports<\/a>.<\/li>\n<li><strong>Windoze users: Your antivirus program of choice? It probably comes with a built-in cryptominer<\/strong>, according to <a href=\"https:\/\/krebsonsecurity.com\/2022\/01\/norton-360-now-comes-with-a-cryptominer\/?utm_source=pocket_mylist\">the good people at Kaspersky<\/a>.<\/li>\n<li><strong>Greener pastures? <\/strong>A Turkish farmer has <a href=\"https:\/\/twitter.com\/ShujaUH\/status\/1479821836321918978\">fitted his cows with VR glasses<\/a> to try to convince them that they\u2019re outside in summer pastures.<\/li>\n<\/ul><p>And from <a href=\"https:\/\/strobist.blogspot.com\/\">The Strobist<\/a> himself (aka David Hobby): <strong><a href=\"https:\/\/twitter.com\/strobist\/status\/1480615272356716550\">Twitter explained in 15 seconds.<\/a><\/strong><\/p><p><strong>MARKET WATCH-<\/strong><\/p><p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>World Bank projects slowdown in global growth this year:<\/strong> The World Bank <a href=\"https:\/\/www.worldbank.org\/en\/publication\/global-economic-prospects\">is projecting<\/a> a 1.4 percentage-point slowdown in global GDP growth to 4.1% in 2022. Global growth surged to 5.5% in 2021, according to the WB\u2019s latest semi-annual economic outlook \u2014 far stronger than the 4% expected this time last year. But the boom isn\u2019t set to last, with the bank downgrading its 2022 forecast by 0.2 percentage points on the back of covid-19 flare-ups, supply bottlenecks, and decreased fiscal support. Growth will slow further to 3.2% in 2023, according to the report.<\/p><p><strong>And developing economies are in for a \u201chard landing\u201d:<\/strong> The World Bank is predicting a \u201cpronounced slowdown\u201d among developing countries as pandemic support is withdrawn and low vaccination rates prolong the pandemic. Growth will slow to 3.4% this year, down from an estimated 5.1% in 2021, while an \u201cunprecedented\u201d increase in debt could leave EMs particularly exposed, prompting bank president David Malpass to call for \u201ca concerted effort to mobilize external resources and accelerate debt relief.\u201d<\/p><p><strong>What about Egypt?<\/strong> We have all the details on the bank\u2019s forecasts for Egypt and MENA in this morning's news well, below.<\/p><hr class=\"grey-line\"><p><strong>Our friends at Abu Dhabi-based investment firm Chimera Capital have just launched their <\/strong><strong>fifth exchange-traded fund<\/strong>, they said in <a href=\"https:\/\/ent.news\/2022\/1\/PressRelease-SPKSAShariahETFLaunch-E.pdf\">a press release (pdf)<\/a>. The sharia-compliant ETF \u2014 which will be listed on the Abu Dhabi exchange \u2014 tracks the performance of the 30 most-liquid sharia-compliant, Saudi-listed equities, allowing investors to capitalize on Saudi Arabia\u2019s \u201cattractive economic fundamentals.\u201d Chimera\u2019s ETFs have attracted inflows of AED 300 mn in under 18 months, the release notes.<\/p><p><strong>Background:<\/strong> Chimera is run by CEO Seif Fikry (<a href=\"https:\/\/www.linkedin.com\/in\/seif-fikry-4409ba11\/\">LinkedIn<\/a>), an Egyptian veteran of the regional capital markets scene and founder of the region\u2019s first UCITS-compliant ETF. The investment firm is a significant backer of Nasdaq-bound transportation play Swvl and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/efc90926-be47-4a5a-a57f-f429f2a02e3f\">recently<\/a> closed its first VC fund at USD 75 mn. A unit of Chimera Capital also <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/36ab74bc-5da8-4373-8d72-ed3d2e4a8d74\">recently bought 25% of<\/a>Sawiris vehicle Gemini Global Development, which owns Ora Developers Egypt.<\/p><p><strong>Dubai\u2019<\/strong><strong>s PMI rose in December to its highest level since June 2019 <\/strong>to sit at 55.3, up from 54.5 in November, according to IHS Markit\u2019s purchasing managers\u2019 index <a href=\"https:\/\/ent.news\/2022\/1\/PMI-Dubai-December-2021.pdf\">survey (pdf)<\/a>. The growth was driven by a robust uptick in new orders amid easing travel restrictions and Expo 2020.<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>Calling seed-stage fintech startups:<\/strong> You have until Tuesday, 15 February to apply to Orange Ventures\u2019 seed challenge for a shot at EUR 500k. To qualify you need to have a seed-stage fintech business that has raised less than EUR 1 mn so far. You can apply <a href=\"https:\/\/vc4a.com\/orange-ventures\/egypt-seed-fintech-challenge\/\">here<\/a>.<\/p><p><strong>South Korean President Moon Jae-in is due in town from 20-21 January<\/strong> on an official visit, during which he will meet President Abdel Fattah El Sisi. Bilateral ties and how to deepen cooperation on environmentally-friendly businesses are high on the agenda, according to <a href=\"https:\/\/bit.ly\/3f4YtFS\">Youm7<\/a> and the <a href=\"https:\/\/www.yna.co.kr\/view\/AKR20220110131051001\">Korean press<\/a>. Egypt is the last leg of a Middle East tour that will also take Moon to the UAE and Saudi Arabia.<\/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\/2020\/1\/Web-view-01.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, urban development as well as social infrastructure such as health and education.<\/p><p><strong>In today\u2019s issue: <\/strong>Water is big on the government\u2019s radar amidst the threat of GERD and climate change. The year ahead promises a continuation of the push to secure our water supply for drinking and agriculture through the building of several wastewater treatment and desalination plants across the country. Egypt is also attempting to mitigate the impact of a number of challenges that could stifle our progress in the water sector such as the supply chain crisis and heightened inflation.<\/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\/chimera-investment\/\">Chimera Investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dubai\/\">Dubai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-youth-forum\/\">World Youth Forum<\/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=\"542701\" 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=\"542701\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/12\/542701\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542701\" class=\"content-area-description single-story post-542701 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\/2022\/1\/1600px-W-x-1200px-H-post-01-110.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n<p>Elevate your spirit where breathtaking mountains rise wherever you turn. Somabay; so magnificent, every day.<\/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=\"542702\" 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=\"542702\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/12\/good-news-on-the-economy-front-the-world-bank-thinks-were-going-to-grow-faster-this-year\/\">\r\n                            Good news on the economy front: The World Bank thinks we\u2019re going to grow faster this year                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/12\/good-news-on-the-economy-front-the-world-bank-thinks-were-going-to-grow-faster-this-year\/\" 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\/12\/good-news-on-the-economy-front-the-world-bank-thinks-were-going-to-grow-faster-this-year\/')\">\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\/12\/good-news-on-the-economy-front-the-world-bank-thinks-were-going-to-grow-faster-this-year\/\">\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=Good news on the economy front: The World Bank thinks we\u2019re going to grow faster this year&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/12\/good-news-on-the-economy-front-the-world-bank-thinks-were-going-to-grow-faster-this-year\/\">\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\/12\/good-news-on-the-economy-front-the-world-bank-thinks-were-going-to-grow-faster-this-year\/&title=Good news on the economy front: The World Bank thinks we\u2019re going to grow faster this year\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Good+news+on+the+economy+front%3A+The+World+Bank+thinks+we%E2%80%99re+going+to+grow+faster+this+year+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F12%2Fgood-news-on-the-economy-front-the-world-bank-thinks-were-going-to-grow-faster-this-year%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/12\/good-news-on-the-economy-front-the-world-bank-thinks-were-going-to-grow-faster-this-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/137.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"542703\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/12\/good-news-on-the-economy-front-the-world-bank-thinks-were-going-to-grow-faster-this-year\/137-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/137.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"137.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/137.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/137.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542702\" class=\"content-area-description single-story post-542702 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-emerging-markets tag-enterpriseam tag-ict tag-inflation tag-oil-and-gas tag-saudi-arabia tag-tunisia tag-vaccines tag-world-bank 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>The W<\/strong><strong>orld Bank has revised upwards its prediction for Egypt\u2019s GDP growth<\/strong> by 0.5 percentage points to 5.5% for FY2021-2022. The bank said in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b25eb2d0-26aa-4dd6-b989-296d562aea36\">October<\/a> that it expected growth to come in at 5.0%, but in its latest Global Economic Prospects report hiked its forecast, citing rising exports, growth in our tech and natural gas sectors, and a rebound in tourism. Growth will remain steady at 5.5% next fiscal year, the bank said.<\/p>\n<p><strong>This tallies with other estimates:<\/strong> The Planning Ministry <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/346bda71-d9f0-42ee-b29d-1a13546e3181\">said last month<\/a> we\u2019re on track to see the economy grow somewhere between 5.5% and 5.7% in FY2021-2022, while the IMF <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0995771d-0f22-47c8-bfac-8ff7985fa0b0\">projected growth<\/a>of 5.2% in its most recent forecast.<\/p>\n<p><strong>You can read the <\/strong><strong><a href=\"https:\/\/openknowledge.worldbank.org\/bitstream\/handle\/10986\/36519\/9781464817601.pdf\">full report here (pdf)<\/a><\/strong><strong>, or visit the <\/strong><strong><a href=\"https:\/\/www.worldbank.org\/en\/publication\/global-economic-prospects\">landing page here<\/a><\/strong><strong>.<\/strong><\/p>\n<p><strong>Strong growth to start the year:<\/strong> Preliminary figures released by the Planning Ministry last year showed the economy growing at a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ac19890f-00ac-42c9-97b8-ecfccc2d8e99\">9.8% clip<\/a> during the first quarter \u2014 its quickest pace in two decades. The ministry has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/346bda71-d9f0-42ee-b29d-1a13546e3181\">penciled in 6-7% growth<\/a> for 2Q.<\/p>\n<p><strong>Egypt\u2019s economy grew at an estimated clip of 3.3% in FY2020-2021, faster than initially expected, <\/strong>the bank said, leaving its October estimate unchanged. That tallies with the latest planning ministry figures. The economy benefited from strong consumption on the back of pent-up demand, growing remittances, and \u201ccontained inflation relative to recent history.\u201d Unemployment also remained and near record lows, while employment rose above pre-pandemic levels, though labor participation remains low.<\/p>\n<p><strong>We\u2019re still going to be growing a bit slower than we did before covid hit: <\/strong>Growth prior to the pandemic had been as high as 6%, boosted in part by the government\u2019s structural and economic reforms, the bank said.<\/p>\n<p><strong>But we\u2019re going to be growing faster than the regional average:<\/strong> Growth in MENA economies is expected to accelerate to 4.4% in 2022 \u2014 an increase from the 4.2% predicted in October\u2014 before leveling off at 3.4% in 2023, the report said. That represents a faster acceleration on average than in the decade before the pandemic. The upward jump is being driven by the recovery of contact-heavy sectors, higher oil and natural gas prices, and the easing of oil production cuts. MENA economies have also been supported by a \u201cgenerally accommodative policy environment,\u201d the report said.<\/p>\n<p><strong>T<\/strong><strong>he pandemic\u2019s \u201clasting economic scars\u201d are still being felt:<\/strong> The gap in average per capita income between MENA and advanced economies is expected to widen despite the recovery, the report said. The regional economy contracted by around 4.0% in 2020, driven by covid-19 disruption and the collapse in oil prices and demand.<\/p>\n<p><strong>Omicron could pose an obstacle: <\/strong>Less than two-fifths of MENA\u2019s population is fully vaccinated. Omicron\u2019s rapid spread could hit global demand and spur a retrenchment in oil prices. Meanwhile, a rise in oil prices could hit importers and keep upward pressure on inflation. The increasing frequency of climate change-driven natural disasters will also continue to hit MENA economies, threatening agriculture, food security, water resources, and lives, it adds.<\/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\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ict\/\">ICT<\/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\/oil-and-gas\/\">oil and gas<\/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\/tunisia\/\">Tunisia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-bank\/\">World Bank<\/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=\"542704\" 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=\"542704\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/12\/high-rates-upcoming-passive-inflows-bode-well-for-egyptian-bonds\/\">\r\n                            High rates, upcoming passive inflows bode well for Egyptian bonds                        <\/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\/12\/high-rates-upcoming-passive-inflows-bode-well-for-egyptian-bonds\/\" 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\/12\/high-rates-upcoming-passive-inflows-bode-well-for-egyptian-bonds\/')\">\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\/12\/high-rates-upcoming-passive-inflows-bode-well-for-egyptian-bonds\/\">\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=High rates, upcoming passive inflows bode well for Egyptian bonds&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/12\/high-rates-upcoming-passive-inflows-bode-well-for-egyptian-bonds\/\">\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\/12\/high-rates-upcoming-passive-inflows-bode-well-for-egyptian-bonds\/&title=High rates, upcoming passive inflows bode well for Egyptian bonds\">\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=High+rates%2C+upcoming+passive+inflows+bode+well+for+Egyptian+bonds+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F12%2Fhigh-rates-upcoming-passive-inflows-bode-well-for-egyptian-bonds%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\/12\/high-rates-upcoming-passive-inflows-bode-well-for-egyptian-bonds\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/138.png?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"542705\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/12\/high-rates-upcoming-passive-inflows-bode-well-for-egyptian-bonds\/138-png\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/138.png?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"138.png\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/138.png?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/138.png?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542704\" class=\"content-area-description single-story post-542704 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-bonds tag-central-bank-of-egypt tag-debt-watch tag-enterpriseam tag-inflation tag-jp-morgan 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>Egypt\u2019s bond market is poised for more gains this year thanks to our attractive <\/strong><strong>interest rate<\/strong>, which is currently the world\u2019s highest after adjusting for inflation, several global asset managers tell <a href=\"http:\/\/bloomberg.com\/news\/articles\/2022-01-11\/egypt-s-world-beating-bonds-poised-for-an-influx-of-passive-cash?srnd=premium-middle-east\">Bloomberg<\/a>. Amid a global bond rout prompted by the Federal Reserve\u2019s decision to accelerate plans to hike rates, analysts and fund managers are bullish on Egyptian debt and are expecting double-digit returns this year, bolstered by the addition of EGP bonds to JPMorgan\u2019s emerging bond index.<\/p>\n<p><strong>Egypt\u2019s local bonds were the world\u2019s second-best performing worldwide last year<\/strong>, with returns reaching 13%, according to Bloomberg data. By comparison, local emerging market debt saw an average loss of 1.2%. Egyptian debt has seen a return of 156% over the past five years, as the IMF-backed reform program and Gulf financing attracted investor inflows \u2014 beating out emerging markets\u2019 26% and the S&P 500\u2019s 133% returns over the same period.<\/p>\n<p><strong>Analysts expect this to continue:<\/strong> PineBridge Investments and Renaissance Capital both see EGP bonds delivering double-digit returns this year, the latter of which expects a 17% gain.<\/p>\n<p><strong>Passive inflows will give us another boost: <\/strong>Already a favorite among emerging market investors, Egypt\u2019s debt market will be bolstered further by joining JPMorgan\u2019s Emerging Markets Bond Index (EMBI) <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/46b492da-c89b-404a-9564-e09959699ea6\">this month<\/a> \u2014 setting the market up for more inflows from passive funds. Egypt currently has USD 26 bn of eligible government bonds.<\/p>\n<p><strong>Will we withstand US interest rate hikes?<\/strong> Egypt has remained attractive for investors, even as the outlook for emerging markets and the global bond market at large has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/db719886-c177-4288-bb84-5e795c6f1ff4\">darkened<\/a> in response to the Federal Reserve\u2019s hawkish turn. We were one of only a few emerging markets to have delivered decent returns since December, when the Fed announced decisive action to combat inflation and hike rates soon in 2022. Egypt\u2019s real interest rate \u2014 the rate adjusted for inflation \u2014 is 2.35%, as opposed to a negative 6.55% for the US, according to the report. \u201cWith real rates that high, <strong>we don\u2019t think the Fed raising rates modestly this year will be a key driver for Egypt bonds<\/strong>,\u201d Jim Barrineau, head of emerging-market debt at Schroders, told Bloomberg.<\/p>\n<p><strong>Inflation remains within comfort zone:<\/strong> Egypt\u2019s annual urban inflation <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8bb1d8d-f765-4ef6-bccb-73f889b098b1\">rose to 5.9% in December<\/a> from 5.6% in November, ending a two-month downward trend, but remaining within the lower end of the Central Bank of Egypt\u2019s 7% (\u00b12%) target range by 4Q2022, helping EGP-bonds go against a global trend of negative returns. \u201cThe ability to keep inflation relatively contained has been key,\u201d Barrineau said.<\/p>\n<p><strong>And it\u2019s not just us \u2014 EM LCY bonds are trending. <\/strong>Local currency bonds saw their biggest inflows in six months on Monday, Bloomberg <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-11\/once-underdogs-of-emerging-markets-local-bonds-get-their-day?sref=mmeFTDW1\">reports<\/a>, as investors turn to the long-troubled asset class amid a global rout in USD-denominated debt. US investors poured USD 71 mn into JPMorgan\u2019s EM local bond exchange-traded fund, its biggest daily gain since June. Local bonds have underperformed for a decade and are usually the first to be sold off in a crisis \u2014 but high real interest rates in developing nations amid expected Fed tightening, USD weakness and low valuations have helped EM local bonds outperform both US treasuries and corporate debt in recent weeks.<\/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\/bonds\/\">Bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/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\/jp-morgan\/\">JP Morgan<\/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=\"542706\" 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=\"542706\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/12\/542706\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542706\" class=\"content-area-description single-story post-542706 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=\"542707\" 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=\"542707\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/12\/and-the-securitized-bonds-just-keep-on-comin\/\">\r\n                            And the securitized bonds just keep on comin\u2019                        <\/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\/12\/and-the-securitized-bonds-just-keep-on-comin\/\" 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\/12\/and-the-securitized-bonds-just-keep-on-comin\/')\">\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\/12\/and-the-securitized-bonds-just-keep-on-comin\/\">\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=And the securitized bonds just keep on comin\u2019&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/12\/and-the-securitized-bonds-just-keep-on-comin\/\">\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\/12\/and-the-securitized-bonds-just-keep-on-comin\/&title=And the securitized bonds just keep on comin\u2019\">\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=And+the+securitized+bonds+just+keep+on+comin%E2%80%99+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F12%2Fand-the-securitized-bonds-just-keep-on-comin%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\/12\/and-the-securitized-bonds-just-keep-on-comin\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/140.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"542708\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/12\/and-the-securitized-bonds-just-keep-on-comin\/140-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/140.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"140.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/140.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/140.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542707\" class=\"content-area-description single-story post-542707 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt-watch tag-efg-hermes tag-enterpriseam tag-madinet-masr-for-housing-and-development tag-securitization 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-04\"><\/a> <strong>Madinet Nasr Housing and Development (MNHD) has closed its first EGP <\/strong><strong>300 <\/strong><strong>mn issuance<\/strong> as part of a three-year, EGP 3 bn securitization program, according to a <a href=\"https:\/\/ent.news\/2022\/1\/EFG-Hermes-x-MNHD-First-Issuance-Securitization-English.pdf\">statement (pdf)<\/a>. The bond is backed by a receivables portfolio of EGP 373.9 mn and consists of three fixed-interest tranches rated A through AA+. This is the first issuance from MNHD since 2019, when the company <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/19\/egypts-efg-subsidiary-is-first-to-issue-short-term-debt-under-new-fra-framework-8761\/\">issued<\/a> EGP 370.5 mn in securitized bonds. The company had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2eac66cd-7c5e-4937-9583-6fb425f3a217\">signed<\/a> an EGP 750 mn sale and leaseback agreement with EFG Hermes in December, which will include a few securitization issuances as follow-on transactions.<\/p>\n<p><strong>Advisors: <\/strong>Our friends at EFG Hermes acted as sole financial adviser, transaction manager, book-runner, arranger and co-underwriter on the issuance. CIB also acted as an underwriter and custodian.<\/p>\n<p><strong>This is the latest in a string of corporate paper to hit the market, with some EGP 7.2 bn in securitized bonds issued so far this year.<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1205d828-fac0-43bc-8078-a6961eed086e\">GB Lease completed the sale of EGP 4.3 bn<\/a> of securitized bonds last week after <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4cd75c45-5faa-47fc-b9de-124f963012cf\">CI Capital\u2019s leasing arm Corplease<\/a> kicked off the year with an EGP 2.4 bn issuance. Premium Card also closed a EGP 170 mn short-term securitized bond sale.<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/21504d18-3879-4c04-8bae-6aa46fd4c18c\">A total of 19 securitized bond<\/a> issuances with a combined value of EGP 15.8 bn went to market last year, by our count.<\/p>\n<p><strong>And there\u2019s more to come:<\/strong> <a href=\"https:\/\/aloula-eg.com\/\">Al Oula<\/a> is looking to issue EGP 900 mn in securitized bonds in 1H2022, <a href=\"https:\/\/bit.ly\/3r47lBf\">Al Mal<\/a> quotes MD and Vice Chair Ayman Abdel Hamid as saying. Al Oula is currently in the process of appointing advisors for the issuance.<\/p>\n<p><strong>Also in the pipeline: <\/strong>The Financial Regulatory Authority has okayed issuances by Cairo Housing and Development and its subsidiaries worth a combined EGP 336 mn. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/90f5b012-fb8e-4349-942e-1731633562a2\">Premium Card is also looking to tap<\/a> the securitized bond market again this year with a two-tranche, EGP 500 mn issuance.<\/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\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/madinet-masr-for-housing-and-development\/\">Madinet Masr for Housing and Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/securitization\/\">securitization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"542709\" 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=\"542709\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/12\/sukuks-are-back-on-the-menu\/\">\r\n                            Sukuks are back on the menu                        <\/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\/12\/sukuks-are-back-on-the-menu\/\" 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\/12\/sukuks-are-back-on-the-menu\/')\">\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\/12\/sukuks-are-back-on-the-menu\/\">\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=Sukuks are back on the menu&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/12\/sukuks-are-back-on-the-menu\/\">\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\/12\/sukuks-are-back-on-the-menu\/&title=Sukuks are back on the menu\">\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=Sukuks+are+back+on+the+menu+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F12%2Fsukuks-are-back-on-the-menu%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\/12\/sukuks-are-back-on-the-menu\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542709\" class=\"content-area-description single-story post-542709 post type-post status-publish format-standard hentry category-debt-watch tag-debt-watch tag-enterpriseam tag-palm-hills-developments tag-sukuk 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-05\"><\/a> <strong>This quarter could see our first corporate sukuk sale of the year: <\/strong>Palm Hills Developments (PHD) could close a EGP 3 bn sukuk sale this quarter, which is being managed by Contact Financial Holding\u2019s (formerly Sarwa Capital) sukuk arm, Ayman Elsawy, head of Sarwa Promoting and Underwriting, told Enterprise, confirming a story yesterday in <a href=\"https:\/\/bit.ly\/3GlLxHy\">Al Borsa<\/a>. The Financial Regulatory Authority still needs to give the sale the go ahead.<\/p>\n<p><strong>Advisors: <\/strong>The company has appointed Banque Misr and its investment arm Misr Capital as underwriters and promoters for the issuance. Our good friends at <a href=\"http:\/\/www.alc.law\/\">ALC Alieldean Weshahi & Partners<\/a> are legal advisors, while KPMG Hazem Hassan is serving as auditor.<\/p>\n<p><strong>More sukuk sales ahead:<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/214a971d-d6bf-4aff-9645-2e61b7391838\">Wadi Degla Developments\u2019s EGP 2 bn<\/a> sukuk sale \u2014 which we were expecting last summer \u2014 and<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a40d14db-a58a-4cdc-8938-0232d8068c6e\">Amer Group\u2019s EGP 1.1 bn<\/a> sale are expected to happen during the first half of the year, Elsawy confirmed to us.<\/p>\n<p><strong>This comes after a very quiet year for sukuk:<\/strong> By our count, 2021 only witnessed a single sukuk sale from Contact Financial Holding, which closed a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2b389205-5282-4d47-b93a-13d8a30d62ff\">sukuk issuance worth EGP 2.5 bn<\/a> back in July.<\/p>\n<p><strong>IN OTHER DEBT NEWS- <\/strong><\/p>\n<p><strong>SMART POLICY- The Central Bank of Egypt and Financial Regulatory Authority have <\/strong><strong>launched a \u201cresponsible lending\u201d initiative<\/strong><strong> directed at all SME lenders they regulate<\/strong>, according to a FRA <a href=\"https:\/\/ent.news\/2022\/1\/FRA-anti-predatory-lending-for-SMEs.pdf\">press release (pdf)<\/a>. The initiative, which comes in partnership with the World Bank, aims to educate SME lenders to better assess a borrower\u2019s credit rating and ability to repay loans \u2014 and to offer them incentives to do the same. The WB has committed funding to train members of the Egyptian Microfinance Federation in best practices with curriculum from international institutions specialized in responsible finance.<\/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\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palm-hills-developments\/\">Palm Hills Developments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sukuk\/\">sukuk<\/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=\"542710\" 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=\"542710\">\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\">Green economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/12\/egypt-to-see-its-first-locally-assembled-ev-in-2023\/\">\r\n                            Egypt to see its first locally assembled EV in 2023                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/12\/egypt-to-see-its-first-locally-assembled-ev-in-2023\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/01\/12\/egypt-to-see-its-first-locally-assembled-ev-in-2023\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/01\/12\/egypt-to-see-its-first-locally-assembled-ev-in-2023\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt to see its first locally assembled EV in 2023&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/12\/egypt-to-see-its-first-locally-assembled-ev-in-2023\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/12\/egypt-to-see-its-first-locally-assembled-ev-in-2023\/&title=Egypt to see its first locally assembled EV in 2023\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+to+see+its+first+locally+assembled+EV+in+2023+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F12%2Fegypt-to-see-its-first-locally-assembled-ev-in-2023%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/12\/egypt-to-see-its-first-locally-assembled-ev-in-2023\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/142.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"542711\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/12\/egypt-to-see-its-first-locally-assembled-ev-in-2023\/142-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/142.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"142.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/142.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/142.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542710\" class=\"content-area-description single-story post-542710 post type-post status-publish format-standard has-post-thumbnail hentry category-green-economy tag-abdel-fattah-el-sisi tag-automotive-directive tag-el-nasr-automotive tag-enterpriseam tag-evs tag-general-motors tag-green-economy tag-infinity 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>Egypt will produce its first locally assembled electric vehicles next year,<\/strong> President Abdel Fattah El Sisi said in an address to the World Youth Forum yesterday (<a href=\"https:\/\/www.facebook.com\/watch\/?ref=external&v=300129492081914\">watch, runtime: 10:26<\/a>). His comments come after the government last week said it was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c426c302-b5c5-4a98-b96a-ec1fa542dabd\">in talks<\/a> with two Chinese companies to partner with El Nasr Automotive to produce electric cars in Egypt, with a view to signing final contracts by March.<\/p>\n<p><strong>A Dongfeng-derived delay:<\/strong> El Nasr was aiming to have Egypt\u2019s first 100 homegrown EVs ready by July-August 2022 \u2014 then negotiations with Chinese auto firm Dongfeng to locally assemble its E70 cars <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f0f9e19-5e30-400f-8dba-6213afd8fb58\">collapsed in November<\/a>. The company has since narrowed seven<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a07a80f5-6aac-43e7-b076-f87aaa5ccab6\"><\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a07a80f5-6aac-43e7-b076-f87aaa5ccab6\">proposals<\/a> from new potential EV partners down to the two Chinese firms, with an eye to finalize terms later this month.<\/p>\n<p><strong>General Motors and Al Mansour are also <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/91d0dbdf-a5f2-4ea7-b310-a8bbbe34a0f7\">in the running<\/a><\/strong><strong> to jointly produce EVs<\/strong>: The two companies signed an MoU on the plan in December and are working to present a study to the government sometime within the next few months.<\/p>\n<p><strong>And incentives could be announced soon:<\/strong> The Madbouly government is finalizing incentives to the local industry under a long-delayed automotive strategy. The measures could offer manufacturers customs discounts for using locally-produced components, potentially linked to their <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/29\/egypts-automotive-incentives-package-could-soon-see-the-light-of-day-9209\/\">added value<\/a> (i.e cost). It could also provide buyers of locally-made EVs subsidies worth up to EGP 50k. The incentives were <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/813a74d0-1505-4f78-b7b9-11bbff6a2f4a\">expected<\/a> to come out in December<\/p>\n<p><strong>Also in store:<\/strong> The government will invest at least <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e2dd65fe-9507-4ee7-90cc-f2e4a53a5da5\">EGP 450 mn<\/a> to roll out the infrastructure required to make EVs viable on Egyptian roads, led by industry leader Infinity, which will set up 6k electric vehicle charging points across 3k stations nationwide. An official announcement on <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e06ef1cd-35c7-43b6-a1db-6ded5f80a431\">EV charging tariffs<\/a> and regulations governing the industry is also expected soon.<\/p>\n<p><strong>The rise of the <\/strong><strong>EV:<\/strong> Infinity co-founder and CEO Mohamed Mansour expects 40-50k EVs on our roads by 2025, up from a current 1.5k, as we see models from global brands being offered, he <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b644d197-1d57-4502-ba71-74ef755f3fa9\">told us<\/a> earlier this week.<\/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\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive-directive\/\">Automotive Directive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/el-nasr-automotive\/\">El Nasr Automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/general-motors\/\">General Motors<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-economy\/\">Green Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infinity\/\">Infinity<\/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=\"542712\" 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=\"542712\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/12\/542712\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542712\" class=\"content-area-description single-story post-542712 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=\"542713\" 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=\"542713\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/12\/last-nights-talk-shows-egypt-lose-opening-afcon-game-world-youth-forum-coverage-continues\/\">\r\n                            Last Night\u2019s Talk Shows: Egypt lose opening Afcon game + World Youth Forum coverage continues                        <\/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\/12\/last-nights-talk-shows-egypt-lose-opening-afcon-game-world-youth-forum-coverage-continues\/\" 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\/12\/last-nights-talk-shows-egypt-lose-opening-afcon-game-world-youth-forum-coverage-continues\/')\">\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\/12\/last-nights-talk-shows-egypt-lose-opening-afcon-game-world-youth-forum-coverage-continues\/\">\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: Egypt lose opening Afcon game + World Youth Forum coverage continues&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/12\/last-nights-talk-shows-egypt-lose-opening-afcon-game-world-youth-forum-coverage-continues\/\">\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\/12\/last-nights-talk-shows-egypt-lose-opening-afcon-game-world-youth-forum-coverage-continues\/&title=Last Night\u2019s Talk Shows: Egypt lose opening Afcon game + World Youth Forum coverage continues\">\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+Egypt+lose+opening+Afcon+game+%2B+World+Youth+Forum+coverage+continues+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F12%2Flast-nights-talk-shows-egypt-lose-opening-afcon-game-world-youth-forum-coverage-continues%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\/12\/last-nights-talk-shows-egypt-lose-opening-afcon-game-world-youth-forum-coverage-continues\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542713\" class=\"content-area-description single-story post-542713 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-enterpriseam tag-last-nights-talk-shows tag-sports tag-world-youth-forum wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The World Youth Forum continued to dominate proceedings on the nation\u2019s <\/strong><strong>airwaves last night<\/strong>, with everyone and their cousins featuring coverage of the second day of the event. Yahduth Fi Masr (<a href=\"https:\/\/www.youtube.com\/watch?v=muTJR1a7Cn0\">watch, runtime: 4:30<\/a>), Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=7Y17b5-k5vU\">watch, runtime: 3:02<\/a>), Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=F4tvUPXWr8I\">watch, runtime: 1:38:31<\/a>), Hadith Al Kahera (<a href=\"https:\/\/www.youtube.com\/watch?v=2O_HYWnqPTg\">watch, runtime: 3:16<\/a>) Ala Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=ESUVB94Gge0\">watch, runtime: 3:29<\/a>) all had coverage.<\/p>\n<p><strong>Afcon blues:<\/strong> Egypt\u2019s disappointing 1-0 loss to Nigeria in their opening game at the Africa Cup of Nations didn\u2019t generate quite the same level of coverage. The post-mortems were provided by Hadeeth Al Kahera (<a href=\"https:\/\/www.youtube.com\/watch?v=1u2TIopXnNU\">watch, runtime: 2:55<\/a>) and Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=XoOaRAGxiL4\">watch, runtime: 2:40<\/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\/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\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-youth-forum\/\">World Youth Forum<\/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=\"542714\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-gbwkim9\" data-v=\"4\" data-block-id=\"gbwkim9\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-gbwkim9-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-gbwkim9-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-rktvw9t\" data-v=\"4\" data-block-id=\"rktvw9t\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-rktvw9t-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-rktvw9t-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27487.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Live More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-3we8g6f\" data-v=\"4\" data-block-id=\"3we8g6f\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-3we8g6f-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-3we8g6f-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-2gicfce\" data-v=\"4\" data-block-id=\"2gicfce\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-2gicfce-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-2gicfce-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"542715\" 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=\"542715\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/12\/egypt-in-the-news-el-sisi-at-the-world-youth-forum-nile-truck-accident-turkey-egypt-thaw\/\">\r\n                            Egypt in the News: El Sisi at the World Youth Forum + Nile truck accident + Turkey-Egypt thaw                        <\/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\/12\/egypt-in-the-news-el-sisi-at-the-world-youth-forum-nile-truck-accident-turkey-egypt-thaw\/\" 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\/12\/egypt-in-the-news-el-sisi-at-the-world-youth-forum-nile-truck-accident-turkey-egypt-thaw\/')\">\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\/12\/egypt-in-the-news-el-sisi-at-the-world-youth-forum-nile-truck-accident-turkey-egypt-thaw\/\">\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=Egypt in the News: El Sisi at the World Youth Forum + Nile truck accident + Turkey-Egypt thaw&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/12\/egypt-in-the-news-el-sisi-at-the-world-youth-forum-nile-truck-accident-turkey-egypt-thaw\/\">\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\/12\/egypt-in-the-news-el-sisi-at-the-world-youth-forum-nile-truck-accident-turkey-egypt-thaw\/&title=Egypt in the News: El Sisi at the World Youth Forum + Nile truck accident + Turkey-Egypt thaw\">\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=Egypt+in+the+News%3A+El+Sisi+at+the+World+Youth+Forum+%2B+Nile+truck+accident+%2B+Turkey-Egypt+thaw+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F12%2Fegypt-in-the-news-el-sisi-at-the-world-youth-forum-nile-truck-accident-turkey-egypt-thaw%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\/12\/egypt-in-the-news-el-sisi-at-the-world-youth-forum-nile-truck-accident-turkey-egypt-thaw\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542715\" class=\"content-area-description single-story post-542715 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-diplomacy tag-enterpriseam tag-human-rights tag-illegal-immigration tag-mohamed-salah tag-population-growth tag-world-youth-forum wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>International media is picking up on statements made by President Abdel Fattah El Sisi <\/strong><strong>at the World Youth Forum yesterday<\/strong>, with the <a href=\"https:\/\/apnews.com\/article\/immigration-middle-east-africa-egypt-migration-c5a3aa16564429b99187d03bd2c3082a\">Associated Press<\/a> noting his critical remarks about European immigration policy, and <a href=\"https:\/\/bit.ly\/31Rz6o4\">Bloomberg Asharq<\/a> noting his comments on the government\u2019s attitude towards human rights and the problem of accelerating population growth.<\/p>\n<p><strong>Also making headlines: <\/strong>An accident that saw <strong>a truck slide off a ferry into the Nile<\/strong> just outside Cairo, leaving two dead and eight still missing, was covered by the <a href=\"https:\/\/apnews.com\/article\/middle-east-africa-egypt-cairo-accidents-86ef3221c344935f849c363155c8bde2\">Associated Press<\/a> and China\u2019s <a href=\"http:\/\/www.xinhuanet.com\/english\/africa\/20220111\/cdacdfd29e904220855577b776365613\/c.html\">Xinhua<\/a>. Meanwhile, the possibility of a <strong>thaw in <\/strong><strong>tensions between Turkey and Egypt <\/strong>amid a reconciliatory wave sweeping MENA got ink in <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-11\/middle-east-rivalries-cool-as-the-region-s-political-and-economic-outlook-shifts?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a>, and <a href=\"https:\/\/www.gq.com\/story\/mohamed-salah-february-cover-profile\">GQ<\/a> interviewed Liverpool star <strong>Mohamed Salah<\/strong> on his ongoing contract negotiations.<\/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\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/illegal-immigration\/\">illegal immigration<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-salah\/\">Mohamed Salah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/population-growth\/\">population growth<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-youth-forum\/\">World Youth Forum<\/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=\"542716\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"542717\" 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=\"542717\">\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\/12\/phase-1-trials-for-our-homegrown-covid-jab-are-about-to-wrap\/\">\r\n                            Phase 1 trials for our homegrown covid jab are about to wrap                        <\/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\/12\/phase-1-trials-for-our-homegrown-covid-jab-are-about-to-wrap\/\" 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\/12\/phase-1-trials-for-our-homegrown-covid-jab-are-about-to-wrap\/')\">\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\/12\/phase-1-trials-for-our-homegrown-covid-jab-are-about-to-wrap\/\">\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=Phase 1 trials for our homegrown covid jab are about to wrap&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/12\/phase-1-trials-for-our-homegrown-covid-jab-are-about-to-wrap\/\">\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\/12\/phase-1-trials-for-our-homegrown-covid-jab-are-about-to-wrap\/&title=Phase 1 trials for our homegrown covid jab are about to wrap\">\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=Phase+1+trials+for+our+homegrown+covid+jab+are+about+to+wrap+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F12%2Fphase-1-trials-for-our-homegrown-covid-jab-are-about-to-wrap%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\/12\/phase-1-trials-for-our-homegrown-covid-jab-are-about-to-wrap\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542717\" class=\"content-area-description single-story post-542717 post type-post status-publish format-standard hentry category-covid-watch tag-covid-19 tag-enterpriseam tag-europe tag-novartis tag-vaccines 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-08\"><\/a> <strong>Covi Vax phase 1 trials end next week:<\/strong> Egyptian researchers will complete phase 1 clinical trials for locally-made covid vaccine Covi Vax next week, head of the National Research Center\u2019s virus department Mohamed Ali said in an interview last night (<a href=\"https:\/\/www.youtube.com\/watch?v=4LJx1twih_E\">watch, runtime: 5:23<\/a>).<\/p>\n<p><strong>Covi Vax ready in July? <\/strong>The second and third phases are expected to take <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7350d54e-82e0-4d00-ade5-57b3ceaf92f4\">six months to complete<\/a>, potentially allowing the vaccine to be assessed by regulators early in the third quarter.<\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/246715980972957\">reported<\/a><\/strong><strong> 932 new covid-19 infections yesterday<\/strong>, down from <a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/246015991042956\">951<\/a> the day before. Egypt has now disclosed a total of 394,740 confirmed cases of covid-19. The ministry also reported 19 new deaths, bringing the country\u2019s total death toll to 22,014.<\/p>\n<p><strong>Half of Europeans will catch the \u2018cron in the next six-eight weeks<\/strong> if it continues to spread at its current rate, according to the World Health Organization, which yesterday characterized the variant as a \u201cwest-to-east tidal wave sweeping across the region.\u201d (<a href=\"https:\/\/www.france24.com\/en\/live-news\/20220111-omicron-on-track-to-infect-more-than-half-of-europeans-in-next-two-months-who-says\">AFP<\/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\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/europe\/\">Europe<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/novartis\/\">Novartis<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/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=\"542718\" 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=\"542718\">\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\/12\/running-start-for-global-corporate-debt-former-nmc-health-chair-forced-to-pay-usd-131-mn-compensation-claim-oecd-inflation-hits-25-yr-high\/\">\r\n                            Running start for global corporate debt + former NMC Health chair forced to pay USD 131 mn compensation claim + OECD inflation hits 25-yr high                        <\/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\/12\/running-start-for-global-corporate-debt-former-nmc-health-chair-forced-to-pay-usd-131-mn-compensation-claim-oecd-inflation-hits-25-yr-high\/\" 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\/12\/running-start-for-global-corporate-debt-former-nmc-health-chair-forced-to-pay-usd-131-mn-compensation-claim-oecd-inflation-hits-25-yr-high\/')\">\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\/12\/running-start-for-global-corporate-debt-former-nmc-health-chair-forced-to-pay-usd-131-mn-compensation-claim-oecd-inflation-hits-25-yr-high\/\">\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=Running start for global corporate debt + former NMC Health chair forced to pay USD 131 mn compensation claim + OECD inflation hits 25-yr high&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/12\/running-start-for-global-corporate-debt-former-nmc-health-chair-forced-to-pay-usd-131-mn-compensation-claim-oecd-inflation-hits-25-yr-high\/\">\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\/12\/running-start-for-global-corporate-debt-former-nmc-health-chair-forced-to-pay-usd-131-mn-compensation-claim-oecd-inflation-hits-25-yr-high\/&title=Running start for global corporate debt + former NMC Health chair forced to pay USD 131 mn compensation claim + OECD inflation hits 25-yr high\">\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=Running+start+for+global+corporate+debt+%2B+former+NMC+Health+chair+forced+to+pay+USD+131+mn+compensation+claim+%2B+OECD+inflation+hits+25-yr+high+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F12%2Frunning-start-for-global-corporate-debt-former-nmc-health-chair-forced-to-pay-usd-131-mn-compensation-claim-oecd-inflation-hits-25-yr-high%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\/12\/running-start-for-global-corporate-debt-former-nmc-health-chair-forced-to-pay-usd-131-mn-compensation-claim-oecd-inflation-hits-25-yr-high\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542718\" class=\"content-area-description single-story post-542718 post type-post status-publish format-standard hentry category-planet-finance tag-barclays tag-bonds tag-debt tag-enterpriseam tag-financial-markets tag-nmc-health tag-planet-finance 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_408150\"\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\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-10\"><\/a> <strong>The global corporate debt market is off to a running start this year, <\/strong>with companies raising over USD 100 bn in the first week of January as they rushed to lock in low borrowing costs before interest rates climb, the <a href=\"https:\/\/www.ft.com\/content\/d72dbda9-0164-4e89-8898-b162538ce605\">Financial Times<\/a> reports. The bumper start comes as a close second to last year\u2019s blockbuster USD 118 bn, which was a 19-year record. Analysts expect the barrage of issuances to continue in the early stages of this year, even as volatility caused by tightening monetary conditions begins to present a challenge to issuers.<\/p><p><strong>The em<\/strong><strong>battled former chairman of NMC Health was ordered by a London court to <\/strong><strong>pay<\/strong><strong> USD 131 mn to Barclays <\/strong>in compensation over a 2020 transaction agreement that was never fulfilled, the <a href=\"https:\/\/www.thetimes.co.uk\/article\/barclays-wins-case-over-shetty-debt-2vtq9b0lr\">Times<\/a> of London reports. The ruling relates to unpaid debts at B.R. Shetty\u2019s foreign exchange business, Finablr, not NMC Health, which was forced into administration after <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c9909934-235b-4cfc-8a25-fdc76dbaa80f\">a fraud scandal<\/a>.<\/p><p><strong>Infl<\/strong><strong>ation in advanced economies rose to a 25-year high of 5.8% in November, up from 1.2% in <\/strong><strong>November 2020,<\/strong> according to <a href=\"https:\/\/data.oecd.org\/price\/inflation-cpi.htm\">data<\/a> released by the group yesterday. Inflation was largely driven by energy prices \u2014 which rose 28% y-o-y, up three percentage points from October \u2014 and food prices, which rose 5.5% y-o-y in November. Most major central banks in the nearly-40 OECD countries are still resisting interest rate hikes as they insist that inflation is transitory, the <a href=\"https:\/\/www.ft.com\/content\/096292cc-4308-47f2-b078-97a636a11a5c\">Financial Times<\/a> notes.<\/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>12,002<\/p>\n<\/td>\n<td>\n<p>-0.2% (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-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>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>11,844<\/p>\n<\/td>\n<td>\n<p>+1.5% (YTD: +5.0%)<\/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>8,333<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: -1.8%)<\/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>3,208<\/p>\n<\/td>\n<td>\n<p>-0.7% (YTD: +0.4%)<\/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>4,713<\/p>\n<\/td>\n<td>\n<p>+0.9% (YTD: -1.1%)<\/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>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,491<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: +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>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 83.65<\/p>\n<\/td>\n<td>\n<p>+3.4%<\/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 4.25<\/p>\n<\/td>\n<td>\n<p>+4.2%<\/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>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,818<\/p>\n<\/td>\n<td>\n<p>+1.1%<\/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>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 42,714<\/p>\n<\/td>\n<td>\n<p>+2.3% (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 0.2% at yesterday\u2019s close<\/strong> on turnover of EGP 986 mn (19.3% below the 90-day average). Foreign investors were net sellers. The index is up 0.4% YTD.<\/p><p><strong>In the green: <\/strong>MM Group (+3.1%), TMG Holding (+1.1%) and Abu Qir Fertilizers (+1.1%).<\/p><p><strong>In the red: <\/strong>Speed Medical (-3.1%), GB Auto (-2.8%) and Mopco (-2.4%).<\/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\/barclays\/\">Barclays<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bonds\/\">Bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nmc-health\/\">NMC Health<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"542719\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhat\/\">\r\n                            Read Hardhat                        <\/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\">10<\/div>\r\n    \r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/infrastructure-whats-to-come-in-2022-part-ii\/\"> \r\n                            Infrastructure: What\u2019s to come in 2022? (Part II)<\/a>\r\n                        <\/h3>\r\n    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/infrastructure-whats-to-come-in-2022-part-ii\/\" 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\/hardhats\/infrastructure-whats-to-come-in-2022-part-ii\/')\">\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\/hardhats\/infrastructure-whats-to-come-in-2022-part-ii\/\">\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=Infrastructure: What\u2019s to come in 2022? (Part II)&url=https:\/\/enterpriseam.com\/egypt\/hardhats\/infrastructure-whats-to-come-in-2022-part-ii\/\">\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\/hardhats\/infrastructure-whats-to-come-in-2022-part-ii\/&title=Infrastructure: What\u2019s to come in 2022? (Part II)\">\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=Infrastructure%3A+What%E2%80%99s+to+come+in+2022%3F+%28Part+II%29+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Fhardhats%2Finfrastructure-whats-to-come-in-2022-part-ii%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>                    <\/div>\r\n    \r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/infrastructure-whats-to-come-in-2022-part-ii\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/143.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=\"542720\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/infrastructure-whats-to-come-in-2022-part-ii\/143-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/143.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"143.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/143.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/143.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-542719\" class=\"content-area-description post-542719 hardhat type-hardhat status-publish has-post-thumbnail hentry tag-bahr-al-baqar tag-elsewedy-electric tag-enterprise-hardhat tag-enterpriseam tag-interest-rates tag-orascom-construction tag-supply-chain tag-wastewater tag-water 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>Infrastructure: What\u2019s to come in the year ahead? (Part II) <\/strong>\u2014 Water has been at the forefront of the government\u2019s development plans amid the threats posed to our share of the resource by the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eb46348d-7550-4cb5-983d-2b40da01a909\">Grand Ethiopian Renaissance Dam<\/a> and <a href=\"https:\/\/enterprise.press\/greeneconomys\/green-economy-2021-part-ii\/\">climate change<\/a>. As the government works on its USD 50 bn multi-year water-saving plan, this will remain the case this year, with necessity pushing water projects to move full speed ahead.<\/p>\n<p><strong>Wastewater treatment will definitely feature prominently:<\/strong> The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/937f8328-b0fc-4e1f-84d9-893ddd22fc8f\">El Hammam agricultural wastewater plant<\/a>, which will process 6 mn cbm of water every day, is expected to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/937f8328-b0fc-4e1f-84d9-893ddd22fc8f\">El Hammam agricultural wastewater plant<\/a> which will process 6 mn cbm of water every day. Once its inaugurated, the El Hammam plant will break the processing capacity record set by our <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7bd53455-008b-49a0-860f-1f17c68cea22\">Bahr Al Baqar wastewater treatment plant<\/a>, which is the biggest of its kind in the world. The plant cost EGP 18 bn to build and can process 5.6 mn cubic meters per day (cbm\/d) which will be transferred to North Sinai to contribute to the reclamation of 476k feddans.<\/p>\n<p><strong>And desalination plants are also in the works: <\/strong>Egypt\u2019s sovereign wealth fund <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/230ab7eb-25c7-4298-b601-6c6e298eac0a\">issued tenders<\/a> in October for private companies to build 17 solar-powered desalination plants that will generate a combined 2.8 mn cbm\/d of water by 2025. The projects are part of a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a70db4f1-664a-4a7b-ad25-022b8b2d3e1d\">USD 2.5 bn plan<\/a> to quadruple our desalination capacity in the next five years. Saudi\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e896f40-de35-4eb5-a5af-794da2447234\">ACWA Power<\/a>, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7dd7435c-016c-432b-8436-8ee56589f64e\">Orascom Construction, and Hassan Allam Holding<\/a> are among the firms that showed interest. Meanwhile, the year also saw a consortium of Orascom Construction (OC) and water treatment company Metito <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4fcc786f-3bb7-49bc-ac32-adda5f0f3c64\">deliver a USD 130 mn<\/a> seawater desalination plant in East Port Said, with a total capacity of 150k cbm\/d.<\/p>\n<p><strong>Meanwhile, the private sector is seeing the potential in water-related activities with big plans for the year ahead: <\/strong>OC will continue to undertake projects across the full spectrum of the water sectors, including everything from treatment plants to water infrastructure, OC management told Enterprise. These projects will likely be under a build, own, operate (BOO) framework, they added. Meanwhile, Elsewedy Electric is banking on port projects, with several projects in the pipeline including dry ports in 6 October and Ain Sokhna and the company is currently bidding for the Tenth of Ramadan dry port, Elsewedy Electric Investor Relations Director Noha Agaiby told us.<\/p>\n<p><strong>And other firms are dipping their toes into the sector: <\/strong>Solar power producer KarmSolar <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/53fef633-15ac-4e01-9bc8-53042ca1038b\">launched<\/a> a water solutions division this year called <a href=\"https:\/\/www.karmsolar.com\/news\/karmwater-solar-powered-water-desalination-solutions\">KarmWater<\/a>. The new company creates solar-powered water desalination projects and is currently working on a project in Marsa Alam. Meanwhile, Qalaa Holdings\u2019 Taqa Arabia <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dd6a6cf3-fbfc-4946-a093-7792c9447591\">established<\/a> a new water treatment solutions company <a href=\"https:\/\/www.taqa.com.eg\/page.php?name=water\">Taqa Water<\/a>, which will cater to the industrial, real estate, agriculture, and tourism sectors.<\/p>\n<p><strong>With all this interest in water projects, Egypt has plans to locally manufacture components for water plants.<\/strong> We <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f34a9779-b1eb-43e0-a25c-37b802366b89\">signed an agreement<\/a> with US firms MPS Infrastructure and Aquatech to form a consortium with the National Authority for Military Production to set up facilities to manufacture equipment used in desalination and wastewater treatment plants.<\/p>\n<p><strong>That\u2019s if supply chain issues don\u2019t put a hamper on things: <\/strong>Supply chain issues continued to be disruptive to the sector this year, a trend that is likely to stay for years ahead, according to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/99a0d777-b49e-4e76-bb54-348f4dde79e0\">shipping giant Maersk<\/a> and almost every other logistics business who has talked to the press lately. While there are signs that the situation might ease next year, according to <a href=\"https:\/\/www.wsj.com\/articles\/supply-chain-problems-show-signs-of-easing-11637496002\">The Guardian<\/a>, Egypt is currently feeling the blow with non-oil business activity <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f6572964-fd33-4870-9d6d-f1bb1d364abb\">fell three months in a row<\/a> as supply chain bottlenecks and inflationary pressures continued to weigh on private sector firms. The cost of energy and raw materials continued to rise sharply causing the pricetag on infrastructure projects to go up, while shipping costs <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/de33c454-7bba-4129-85ae-0c044abeef49\">rose more than 400% y-o-y<\/a>.<\/p>\n<p><strong>Local companies found ways to mitigate the impact:<\/strong> Elsewedy\u2019s main issue was the lower availability of materials during the supply crisis, Agaiby said. In 2021, they made sure to always have a safety stock of needed raw materials to ensure production in factories wasn\u2019t interrupted. This system will continue in 2022 as long as the supply chain crisis remains, she added.<\/p>\n<p><strong>And in many cases, the price hikes are transferred to the clients<\/strong> \u2014 meaning companies working on infrastructure weren\u2019t shouldering the load alone, Agaiby indicated.<\/p>\n<p><strong>And then we have the global high interest rate environment\u2026 <\/strong>Globally, interest rates have been rising on the back of the decision by the US Federal Reserve to take a more hawkish strategy towards its monetary policy, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7f444232-111c-46af-bca6-df62fda492f3\">announcing in December<\/a> that they're scheduled three rate hikes in 2022. This comes as inflation takes a toll on major markets across the world. Egypt has so far managed to breeze through somewhat unscathed, even choosing <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f4b1d297-1400-4fd8-830d-014978686b44\">to leave rates on hold<\/a> in the last Monetary Policy Committee meeting of 2021. However, inflation is expected to be flagged as an issue soon enough, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f4b1d297-1400-4fd8-830d-014978686b44\">analysts agree<\/a>, due to persistent global inflation, potential electricity price increases, and a rise in demand following higher employment rates.<\/p>\n<p><strong>\u2026which could impact funding from abroad: <\/strong>Both supply chain issues and higher inflation are expected to remain in 2022, OC Management told us. This could have a negative impact on the infrastructure sector as large-scale projects often require loans to fund the projects and higher interest rates mean that these projects will now cost more to finance, especially in the case of loans from abroad.<\/p>\n<p><strong>Luckily, Egypt is exploring new ways to locally fund development projects: <\/strong>The cabinet green-lit amendments to the Capital Markets Act <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3fb31620-1cf4-4952-b018-deb2ab293138\">in November<\/a> that would pave the way for future flow securitization to be introduced. The instrument allows companies that provide services to the public a new way of accessing liquidity by backing future income. This would open securitization to new companies in sectors such as utilities, telecoms, healthcare and education and help them fund big-ticket spending on infrastructure, road, and transport projects without needing to wait for payments from their clients. Meanwhile, the FRA recently introduced <strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4936aed7-6841-46cc-b4bd-fabf94700cff\">sustainable development bonds<\/a><\/strong>, among other bond offerings, that could help provide financing for sustainable water projects.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top infrastructure stories for the week:<\/strong><\/p>\n<ul>\n<li>The government <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/312462590924168\">expects to finish in March<\/a> its project to develop the areas adjacent to the Saladin-era aqueduct that runs from the Nile to the Citadel.<\/li>\n<li><strong>Nafeza is coming to air freight:<\/strong> The Customs Authority will this month begin a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b758c3ba-423f-45fd-9152-d346623c4b28\">three-month trial<\/a> extending its Advance Cargo Information (ACI) system to air freight, ahead of a full launch planned for April.<\/li>\n<li><strong>We could have a new EV partner by March:<\/strong> The government is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c426c302-b5c5-4a98-b96a-ec1fa542dabd\">in talks<\/a> with two Chinese companies to partner with El Nasr Automotive to locally produce electric cars, with an eye to finalize terms later this month and sign final contracts by March.<\/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\/bahr-al-baqar\/\">Bahr Al Baqar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/elsewedy-electric\/\">Elsewedy Electric<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-construction\/\">Orascom Construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/supply-chain\/\">supply chain<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wastewater\/\">wastewater<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/water\/\">water<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"542721\" 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\/12\/542721\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542721\" class=\"content-area-description single-story post-542721 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>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>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>January: Sovereign Sukuk Act executive regulations expected to be finalized.<\/p>\n<p>January: Tenth of Ramadan dry port tender to be launched.<\/p>\n<p>January: Three-month trial period of ACI for air freight to begin.<\/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>9 January - 6 February (Sunday-Sunday): 2021 Africa Cup of Nations, Cameroon.<\/p>\n<p>9-12 January: <a href=\"https:\/\/www.plastex-online.com\/\">Plastex<\/a>, Egypt International Exhibition Center, New Cairo, Egypt.<\/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>19 January (Wednesday): EgyptAir will operate an <a href=\"https:\/\/www.facebook.com\/559252464269841\/photos\/a.672120829649670\/1787559448105797\/?type=3&theater\">exceptional Casablanca-Cairo flight<\/a> to bring home Egyptians expats stranded in Morocco following border closures.<\/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>20-21 January (Thursday-Friday): South Korean President Moon Jae-in <a href=\"https:\/\/bit.ly\/3f4YtFS\">will visit Egypt<\/a> as part of his diplomatic tour of the region.<\/p>\n<p>23 January (Sunday): Deadline for Macro Pharma to IPO on the EGX.<\/p>\n<p>25 January (Tuesday): The IMF will release its World Economic Outlook.<\/p>\n<p>25 January (Tuesday): 25 January revolution anniversary \/ Police Day.<\/p>\n<p>25-26 January (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/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>February: Suez canal transit fees <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/36bf88d1-efc3-4194-aa9a-23a4defc0035\">set to increase 6%<\/a>, exempting cruise ships and LNG carriers.<\/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>3 February (Thursday): January PMI figures for Egypt, Saudi Arabia, and the UAE will be released.<\/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>15 February (Tuesday): Orange Ventures\u2019 <a href=\"https:\/\/vc4a.com\/orange-ventures\/egypt-seed-fintech-challenge\/\">deadline<\/a> to receive applications from seed-stage fintech startups.<\/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: The government hopes to sign a final contract between El Nasr Automotive and a new partner for the local production of electric cars.<\/p>\n<p>March: Target date for Saudi tech firm Brmaja to IPO on the EGX.<\/p>\n<p>9-18 March (Wednesday-Friday): The 55th edition of the <a href=\"https:\/\/www.facebook.com\/mift.media\/posts\/291436426360972\">Cairo International Fair<\/a>.<\/p>\n<p>15-16 March (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>24 March (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>28-29 March (Monday-Tuesday): The Egypt International Mining Show (<a href=\"https:\/\/egypt-mining.com\/\">EIMS 2022<\/a>) will take place virtually.<\/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>3-4 May (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/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>14-15 June (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>15-18 June (Wednesday-Saturday): <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>1 July (Friday): FY 2022-2023 begins.<\/p>\n<p>8 July (Friday): Arafat Day.<\/p>\n<p>9-13 July (Saturday-Wednesday): Eid Al Adha, national holiday.<\/p>\n<p>26-27 July (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/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>20-21 September (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/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>1-2 November (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>3 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>13-14 December (Tuesday-Wednesday): Federal Reserve interest rate 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":542699,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-542698","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"07e33e80-a183-4f60-9d60-18602a032c6e","teaser":"","photo_url":"https:\/\/ent.news\/2022\/1\/134.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>World Bank hikes Egypt growth forecast to 5.5% in 2021-2022 - 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\/world-bank-hikes-egypt-growth-forecast-to-5-5-in-2021-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"World Bank hikes Egypt growth forecast to 5.5% in 2021-2022\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/world-bank-hikes-egypt-growth-forecast-to-5-5-in-2021-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T19:59:14+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\/134.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\/world-bank-hikes-egypt-growth-forecast-to-5-5-in-2021-2022\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/world-bank-hikes-egypt-growth-forecast-to-5-5-in-2021-2022\/\",\"name\":\"World Bank hikes Egypt growth forecast to 5.5% in 2021-2022 - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/world-bank-hikes-egypt-growth-forecast-to-5-5-in-2021-2022\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/world-bank-hikes-egypt-growth-forecast-to-5-5-in-2021-2022\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/134.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2022-01-12T04:06:26+00:00\",\"dateModified\":\"2025-12-15T19:59:14+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/world-bank-hikes-egypt-growth-forecast-to-5-5-in-2021-2022\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/issues\/world-bank-hikes-egypt-growth-forecast-to-5-5-in-2021-2022\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/world-bank-hikes-egypt-growth-forecast-to-5-5-in-2021-2022\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/134.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/134.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/world-bank-hikes-egypt-growth-forecast-to-5-5-in-2021-2022\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Issues\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/AMarchives\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"World Bank hikes Egypt growth forecast to 5.5% in 2021-2022\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"World Bank hikes Egypt growth forecast to 5.5% in 2021-2022 - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/issues\/world-bank-hikes-egypt-growth-forecast-to-5-5-in-2021-2022\/","og_locale":"en_US","og_type":"article","og_title":"World Bank hikes Egypt growth forecast to 5.5% in 2021-2022","og_url":"https:\/\/enterpriseam.com\/egypt\/issues\/world-bank-hikes-egypt-growth-forecast-to-5-5-in-2021-2022\/","og_site_name":"EnterpriseAM Egypt","article_modified_time":"2025-12-15T19:59:14+00:00","twitter_card":"summary_large_image","twitter_image":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/134.jpg?fit=%2C&ssl=1","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/world-bank-hikes-egypt-growth-forecast-to-5-5-in-2021-2022\/","url":"https:\/\/enterpriseam.com\/egypt\/issues\/world-bank-hikes-egypt-growth-forecast-to-5-5-in-2021-2022\/","name":"World Bank hikes Egypt growth forecast to 5.5% in 2021-2022 - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/world-bank-hikes-egypt-growth-forecast-to-5-5-in-2021-2022\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/world-bank-hikes-egypt-growth-forecast-to-5-5-in-2021-2022\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/134.jpg?fit=%2C&ssl=1","datePublished":"2022-01-12T04:06:26+00:00","dateModified":"2025-12-15T19:59:14+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/world-bank-hikes-egypt-growth-forecast-to-5-5-in-2021-2022\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/issues\/world-bank-hikes-egypt-growth-forecast-to-5-5-in-2021-2022\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/world-bank-hikes-egypt-growth-forecast-to-5-5-in-2021-2022\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/134.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/134.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/world-bank-hikes-egypt-growth-forecast-to-5-5-in-2021-2022\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Issues","item":"https:\/\/enterpriseam.com\/egypt\/AMarchives\/"},{"@type":"ListItem","position":3,"name":"World Bank hikes Egypt growth forecast to 5.5% in 2021-2022"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}}]}},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/542698","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/issue"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/542698\/revisions"}],"predecessor-version":[{"id":542722,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/542698\/revisions\/542722"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/542699"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=542698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=542698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=542698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}