{"id":542723,"date":"2022-01-13T03:35:30","date_gmt":"2022-01-13T03:35:30","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=542723"},"modified":"2025-12-15T19:59:48","modified_gmt":"2025-12-15T19:59:48","slug":"sfe-reportedly-eyeing-renewable-energy-fund","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/sfe-reportedly-eyeing-renewable-energy-fund\/","title":{"rendered":"SFE reportedly eyeing renewable energy fund"},"content":{"rendered":"<section id=\"542725\" 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=\"542725\">\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\/13\/this-morning-afcon-chaos-us-inflation-highest-since-1982-new-eu-rules-for-green-investment-could-go-global\/\">\r\n                            THIS MORNING: Afcon chaos; US inflation highest since 1982; New EU rules for green investment could go global                        <\/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\/13\/this-morning-afcon-chaos-us-inflation-highest-since-1982-new-eu-rules-for-green-investment-could-go-global\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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US inflation highest since 1982; New EU rules for green investment could go global\">\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+Afcon+chaos%3B+US+inflation+highest+since+1982%3B+New+EU+rules+for+green+investment+could+go+global+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F13%2Fthis-morning-afcon-chaos-us-inflation-highest-since-1982-new-eu-rules-for-green-investment-could-go-global%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\/13\/this-morning-afcon-chaos-us-inflation-highest-since-1982-new-eu-rules-for-green-investment-could-go-global\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542725\" class=\"content-area-description single-story post-542725 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-abu-dhabi tag-enterpriseam tag-esg tag-green-economy tag-inflation tag-renewable-energy tag-sports tag-uae tag-us tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Good morning, friends, and happy Thursday to you all. <\/strong>We hope the week has been kind to you and that you\u2019re looking forward to unwinding this weekend.<\/p>\n<p><strong>Four days in and Afcon 2021 has been nothing if not entertaining:<\/strong> There were incredible scenes in Cameroon yesterday as Tunisia\u2019s meeting with Mali devolved into chaos in the final five minutes when Zambian referee Janny Sikazwe twice blew the full-time whistle before the 90 minutes were up. Mali had taken a 1-0 lead through a controversial penalty decision before the chaotic denouement, which saw the ref call full time on the 85th minute, hand a straight red card to Mali forward El Bilal Toure, and blow the whistle again in the 89th minute as the Tunisians were searching for an equalizer. It took a full 20 minutes before the officials decided to resume the game, only for the Tunisians to refuse to take to the field, handing Mali the victory. Check out Bein Sports\u2019 coverage of the late-game fiasco here (<a href=\"https:\/\/www.youtube.com\/watch?v=yumLMrI0-YU\">watch, runtime: 2:12<\/a>), while <a href=\"https:\/\/www.eurosport.com\/football\/africa-cup-of-nations\/2022\/africa-cup-of-nations-drama-as-referee-ends-game-early-twice-and-tunisia-refuse-to-play-against-mali_sto8704739\/story.shtml\">Eurosport<\/a> has footage of the Malian coach being pulled out of the post-match presser to restart the game.<\/p>\n<p><strong>PSA- It\u2019s going to be a cold weekend:<\/strong> Temperatures across the country are set to dip over the weekend, according to the <a href=\"https:\/\/www.facebook.com\/photo\/?fbid=290068006485107&set=a.289008423257732\">Egyptian Meteorological Authority<\/a>, which forecasts the mercury to dip as low as 7\u00b0C in the capital between today and Monday. The authority is forecasting wind and a chance of light to moderate rain over the next four days.<\/p>\n<p><strong>Look for daytime highs of 15-16\u00b0C over each of the next five days<\/strong>, our favourite weather app tells us.<\/p>\n<hr class=\"grey-line\">\n<p><strong>WHAT\u2019S HAPPENING TODAY- <\/strong><\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/wyfegypt.com\/\">World Youth Forum<\/a><\/strong><strong> wraps up today. <\/strong>Planning Minister Hala El Said took center stage yesterday, speaking on how the Sisi administration\u2019s Decent Life initiative is a crucial policy in alleviating poverty in Egypt (<a href=\"https:\/\/www.youtube.com\/watch?v=f_4yH9-p50Y&ab_channel=ON\">watch, runtime: 2:25<\/a>). You can check out the full agenda for the forum <a href=\"https:\/\/wyfegypt.com\/pdf\/en_agenda_2021.pdf\">here (pdf)<\/a>, and we have more on yesterday\u2019s events in Last Night\u2019s Talk Shows, below.<\/p>\n<p><strong>THE BIG STORY ABROAD-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>A<\/strong><strong>nnual inflation in the United States for December was the highest it has <\/strong><strong>been since 1982<\/strong> at 7%, up from 6.8% a month before amid supply bottlenecks, labor shortages, and unprecedented liquidity flowing through the economy from pandemic-related stimulus, fresh data <a href=\"https:\/\/www.bls.gov\/news.release\/cpi.nr0.htm\">released yesterday<\/a> shows. Core inflation \u2014 which strips out volatile food and energy prices \u2014 stood at 5.5%, its highest since 1991.<\/p>\n<p><strong>But equities took it in stride<\/strong>: US stocks rose on Wednesday as the inflation figures came largely in line with analysts\u2019 expectations, quelling fears of even higher price hikes that could have forced the Federal Reserve to unwind its stimulus program more swiftly, <a href=\"https:\/\/www.reuters.com\/business\/futures-edge-higher-ahead-key-us-inflation-data-2022-01-12\/\">Reuters reports<\/a>. Investors were reassured by expectations that inflation will peak by mid-year, helped by an easing of bottlenecks and planned interest rate hikes from the Fed, which the bank\u2019s head Jay Powell on Wednesday <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/65a6a000-17e7-495b-a716-17845d2d0408\">insisted<\/a> would not harm the economy.<\/p>\n<p><strong>Also still broadcasting the \u201cinflation is transitory\u201d line:<\/strong> IMF head Kristalina Georgieva, who yesterday said US inflation would <a href=\"https:\/\/www.reuters.com\/business\/imfs-georgieva-sees-us-inflation-declining-second-quarter-2022-01-12\/\">start to decline<\/a> by the second quarter of the year as the supply squeeze eases.<\/p>\n<p><strong>The news is everywhere in the global business press this morning:<\/strong> <a href=\"https:\/\/www.reuters.com\/world\/us\/us-consumer-prices-increase-strongly-december-2022-01-12\/\">Reuters<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-12\/inflation-in-u-s-registers-biggest-annual-gain-since-1982?sref=mmeFTDW1\">Bloomberg<\/a> | <a href=\"https:\/\/www.ft.com\/content\/b90f59e1-79c2-403d-94a9-776555c541fc\">FT<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/global-stock-markets-dow-update-01-12-2022-11641976499\">WSJ<\/a> | <a href=\"https:\/\/www.cnbc.com\/2022\/01\/12\/cpi-december-2021-.html\">CNBC<\/a>.<\/p>\n<p><strong>It\u2019s a mixed open in Asia this morning:<\/strong> Shares in China, Japan and South Korea are down but the Hang Seng and Australia\u2019s ASX are marginally in the black. The futures markets are also mixed, with shares in Europe poised to see early gains but the US on course to open in the red.<\/p>\n<p><strong>ICYMI-<\/strong> <strong>Annual inflation here at home is lower than it is in the US. <\/strong>We hit 5.9% in December (from 5.6% in November), ending a two-month downward trend, according to Capmas figures <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8bb1d8d-f765-4ef6-bccb-73f889b098b1\">released earlier this week<\/a>. A slower-than-expected rise in food and beverage costs led to a more muted rise in the annual headline figure than most analysts had anticipated.<\/p>\n<p><strong>MEANWHILE-<\/strong> <a href=\"https:\/\/fortune.com\/2022\/01\/12\/meta-antitrust-ftc-instagram-whatsapp\/\">Fortune<\/a> thinks <s>Facebook<\/s> Meta may \u201csoon\u201d have to <strong>sell Instagram and El Whats<\/strong> as the US Federal Trade Commission prepares to take Meta to court over antitrust allegations. Two Democratic operatives have taken to the op-ed pages of the <a href=\"https:\/\/www.wsj.com\/articles\/hillary-clinton-2024-comeback-president-biden-harris-democrat-nominee-race-2022-midterm-loss-11641914951\">Wall Street Journal<\/a> to position <strong>Hillary Clinton as a potential 2024 candidate <\/strong>for the US presidency<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>WEEKEND MUST READ- <\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>SOUND SMART- <\/strong><strong>A proposed EU <\/strong><strong><a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/PDF\/?uri=OJ:L:2021:442:FULL&from=EN\">taxonomy<\/a><\/strong><strong> could soon become <\/strong><strong>the world\u2019s gold <\/strong><strong>standard for green <\/strong><strong>investment, <\/strong>the <a href=\"https:\/\/www.economist.com\/finance-and-economics\/2022\/01\/08\/the-eus-green-investing-taxonomy-could-go-global\">Economist<\/a> reports. The rules will set out criteria to measure the quality of purportedly green investments \u2014 and their stringency and detail could make the taxonomy the last word on sustainable investing globally. European banks and green fund managers will have to disclose how their investments align with the rules, in a step that is set to reduce greenwashing, increase confidence in sustainable assets, and force more climate data into the public domain.<\/p>\n<p><strong>Expect some controversy: <\/strong>The draft text has prompted backlash after it classified some nuclear power and gas projects as \u201cgreen\u201d (which, coincidentally, wouldn\u2019t be so bad for our own <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/28a66cd8-7bf1-4d19-a2f8-202148d99346\">energy hub ambitions<\/a>). Some energy experts also question whether the taxonomy is enough to steer funds towards the right investments, arguing that it creates no incentive for companies to back poorly-funded sustainable assets.<\/p>\n<p><strong>What\u2019s next? <\/strong>The taxonomy is currently under review by experts and is expected to be published in its final form later this month \u2014 after which it would become law by the summer, unless a supermajority of EU countries or the bloc\u2019s parliament move to block it, <a href=\"https:\/\/www.reuters.com\/markets\/commodities\/eu-delays-deadline-green-investment-rules-nuclear-gas-2022-01-10\/\">Reuters<\/a> reports.<\/p>\n<p><strong>Speaking of nukes: <\/strong>The UAE\u2019s Emirates Nuclear Energy Corporation (ENEC) is set to produce 85% of Abu Dhabi\u2019s clean energy by 2025, CEO Mohamed Ibrahim Al Hammadi said at a conference yesterday, according to <a href=\"https:\/\/www.reuters.com\/business\/energy\/uaes-enec-set-produce-85-abu-dhabi-clean-electricity-by-2025-ceo-2022-01-12\/\">Reuters<\/a>. ENEC owns Abu Dhabi\u2019s Barakah nuclear power plant, the Arab world\u2019s first. The plant is expected to <a href=\"https:\/\/twitter.com\/admediaoffice\/status\/1456201476498329605?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1456201476498329605%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fgulfnews.com%2Fuae%2Fscience%2Fuaes-barakah-nuclear-energy-plant-completes-unit-3-1.83449392\">generate 5.6 GW<\/a> of power and prevent more than 21 mn tonnes of carbon emissions a year once fully operational, according to the <a href=\"https:\/\/twitter.com\/admediaoffice\/status\/1456201476498329605?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1456201476498329605%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fgulfnews.com%2Fuae%2Fscience%2Fuaes-barakah-nuclear-energy-plant-completes-unit-3-1.83449392\">Abu Dhabi<\/a> government.<\/p>\n<p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>SODIC shareholders <\/strong><strong><a href=\"https:\/\/www.egx.com.eg\/ar\/BulletinNews.aspx?BCODE=272510&All=\">will vote<\/a><\/strong><strong> on the company\u2019s new board of directors<\/strong> at an extraordinary general meeting on Sunday, 16 January. The formation of the new board comes after an Emirati consortium of real estate giant Aldar Properties and Abu Dhabi sovereign wealth fund ADQ in December <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6ff33ea0-89c5-479c-87c3-bace1f57c63c\">acquired 85.5% of SODIC<\/a> in an allcash, EGP 6.1 bn transaction.<\/p>\n<p><strong>South Korean President Moon Jae-in is <\/strong><strong><a href=\"https:\/\/bit.ly\/3f4YtFS\">due in town<\/a><\/strong><strong> from 20-21 January<\/strong> on an official visit, during which he will meet President Abdel Fattah El Sisi.<\/p>\n<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>\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\/abu-dhabi\/\">Abu Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/esg\/\">ESG<\/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\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewable-energy\/\">renewable energy<\/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\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"542726\" 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=\"542726\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/542726\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542726\" class=\"content-area-description single-story post-542726 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=\"542727\" 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=\"542727\">\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\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/one-step-closer-to-macros-ipo\/\">\r\n                            One step closer to Macro\u2019s IPO                        <\/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\/13\/one-step-closer-to-macros-ipo\/\" 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\/13\/one-step-closer-to-macros-ipo\/')\">\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\/13\/one-step-closer-to-macros-ipo\/\">\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=One step closer to Macro\u2019s IPO&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/one-step-closer-to-macros-ipo\/\">\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\/13\/one-step-closer-to-macros-ipo\/&title=One step closer to Macro\u2019s IPO\">\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=One+step+closer+to+Macro%E2%80%99s+IPO+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F13%2Fone-step-closer-to-macros-ipo%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\/13\/one-step-closer-to-macros-ipo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/152.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"542728\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/one-step-closer-to-macros-ipo\/152-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/152.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"152.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/152.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/152.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542727\" class=\"content-area-description single-story post-542727 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-egx tag-enterpriseam tag-financial-regulatory-authority tag-ipo-watch tag-macro-group 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>Cosmeceuticals giant <\/strong><strong><a href=\"https:\/\/macro-egy.com\/\">Macro Group<\/a><\/strong><strong>\u2019s shares <\/strong><strong>will be listed<\/strong><strong> on the EGX today<\/strong> after receiving the blessing of the bourse\u2019s listing committee yesterday, according to an <a href=\"https:\/\/ent.news\/2022\/1\/EGX-AR-PRL.pdf\">EGX statement (pdf)<\/a> yesterday. The listing will pave the way for company\u2019s plan to offer up to 45.8% of its shares (which will trade under the stock ticker MCRO.CA) in a transaction that could value the company at as much as EGP 3.5 bn, the Financial Regulatory Authority (FRA) said <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d209b00e-3051-472d-89d7-1bdc2b7588df\">last month<\/a>.<\/p>\n<p><strong>When will Macro go ahead with the sale of shares? <\/strong>The FRA gave Macro <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/48d0dc09-939b-4b95-8dbb-a96e8e4b2f29\">the green light<\/a> last month to offer shares to investors, setting a late-January window for the transaction. Macro plans to make its EGX debut sometime in the first quarter of 2022, a source familiar with the matter told Enterprise in December, adding that the exact timeline for the IPO has not yet been set. Market conditions are critical to the timing of any IPO. The FRA has lately telegraphed that it could be flexible on the deadline to complete transactions for companies that have listed their shares, but not executed sales.<\/p>\n<p><strong>Background:<\/strong> Macro Group <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/75b46198-eeb9-4f78-81cf-25219caf31c2\">postponed its IPO plans<\/a> in April 2021 despite strong appetite from international institutional investors, citing concern for the market\u2019s capacity to absorb a packed offerings schedule on the EGX. The company was about to kick off retail subscription when the listing was postponed, with <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2d689e02-cc68-4383-b4be-59a75b1e7580\">shares priced at between EGP 5.30-6.15 apiece<\/a>, valuing the company at EGP 3.1-3.6 bn. Sources told us last month that the company would start the book building process from scratch following the holiday season.<\/p>\n<p><strong>Advisors:<\/strong> Our friends at EFG Hermes is quarterbacking the transaction as sole global coordinator. EFG Hermes and Renaissance Capital are acting as joint bookrunners, while White & Case is counsel to the issuer. Inktank is investor relations advisor to Macro.<\/p>\n<p><strong>More IPOs on the horizon:<\/strong> Our friends at healthy foods player <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/98bcedd8-3687-4806-9a48-9efe1527cb04\">Abu Auf<\/a> is looking to make its EGX debut in 2Q, while non-bank financial services outfit <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e2288438-1757-4a28-b7a4-8060a362753b\">Ebtikar<\/a> has also signaled it is looking to IPO, but refused to give us guidance on timing when we recently asked. The FRA last month gave approval for <a href=\"http:\/\/nahrelkhair.com\/about.php?p=about\">Nahr Elkhair Development and Investment<\/a> to list up to 61% of its shares on the EGX, with a fair value estimate of EGP 500 mn.<\/p>\n<p><strong>IN OTHER CAPITAL MARKETS NEWS-<\/strong><\/p>\n<p><strong>Real estate firm <\/strong><strong><a href=\"https:\/\/marseiliagp.com\/\">Marseilia Group<\/a><\/strong><strong>\u2019s shares will be listed on the EGX from next Thursday<\/strong>, 20 January, after making the jump from the small-cap Nilex, the EGX statement added. The EGX Listing Committee approved the company\u2019s EGP 28.8 mn capital increase, pushing its capital just north of the EGP 100 mn <a href=\"https:\/\/www.egx.com.eg\/en\/How_list.aspx\">capital requirement<\/a> for companies to list on the EGX, the bourse said In a separate <a href=\"https:\/\/ent.news\/2022\/1\/Marseilia-group-1600.jpg\">bulletin yesterday<\/a>. The increase will be financed by annual and retained earnings.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/macro-group\/\">Macro Group<\/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=\"542729\" 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=\"542729\">\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\">Green economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/sfe-eyes-renewable-energy-sub-fund\/\">\r\n                            SFE eyes renewable energy sub-fund                        <\/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\/13\/sfe-eyes-renewable-energy-sub-fund\/\" 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\/13\/sfe-eyes-renewable-energy-sub-fund\/')\">\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\/13\/sfe-eyes-renewable-energy-sub-fund\/\">\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=SFE eyes renewable energy sub-fund&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/sfe-eyes-renewable-energy-sub-fund\/\">\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\/13\/sfe-eyes-renewable-energy-sub-fund\/&title=SFE eyes renewable energy sub-fund\">\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=SFE+eyes+renewable+energy+sub-fund+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F13%2Fsfe-eyes-renewable-energy-sub-fund%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\/13\/sfe-eyes-renewable-energy-sub-fund\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/153.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"542730\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/sfe-eyes-renewable-energy-sub-fund\/153-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/153.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"153.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/153.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/153.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542729\" class=\"content-area-description single-story post-542729 post type-post status-publish format-standard has-post-thumbnail hentry category-green-economy tag-ayman-soliman tag-enterpriseam tag-green-bonds tag-green-economy tag-green-hydrogen tag-new-and-renewable-energy-authority tag-renewable-energy tag-sovereign-fund-of-egypt tag-sustainability wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Our friends at the Sovereign Fund of Egypt is working to launch a <\/strong><strong>renewable energy sub-fund<\/strong> <strong>this year<\/strong> as part of its plan to support the green transition, <a href=\"https:\/\/alborsaanews.com\/2022\/01\/11\/1497817\">Al<\/a><a href=\"https:\/\/alborsaanews.com\/2022\/01\/11\/1497817\">Borsa<\/a> reports, citing sources it says have knowledge of the fund\u2019s plans. The Madbouly government is reportedly planning to transfer ownership of the assets of both the New and Renewable Energy Authority (NREA) and the Hydro Power Plant Executive Authority (HPPEA) over to this new sub-fund, which will manage investments in climate-friendly projects.<\/p>\n<p><strong>Where the plan stands:<\/strong> SFE officials are studying reports from the NREA and the HPPEA on their assets and ongoing projects, the newspaper says. We reached out to all the parties involved for comment, but they haven\u2019t gotten back to us as of dispatch.<\/p>\n<p><strong>The HPPEA is already set to be scrapped: <\/strong>The body will be abolished and the country\u2019s hydroelectric assets transferred to the NREA under a bill <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9f049004-ee6e-4195-97fa-1f5e92cad0c3\">passed by the House<\/a> last week. The legislation, first <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/241ba78e-3d60-4e85-88da-548612710c73\">proposed by Cabinet<\/a> two years ago, still needs to be ratified by President Abdel Fattah El-Sisi.<\/p>\n<p><strong>So what assets will the sub-fund hold? <\/strong>Anything and everything related to national projects in wind, solar, and hydro. Renewable energy production from the NREA projects <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e0ef70e6-4c9d-41f3-b9c4-e734f2e35af4\">increased over 22%<\/a> y-o-y in FY2020-2021 to reach c. 4.5k megawatts \/ hour. Further rapid expansion is planned, as the government targets sourcing 42% of our electricity from renewable sources by 2030.<\/p>\n<p><strong>The SFE plans on scaling up climate-friendly investments this year. <\/strong>It is currently backing several high-profile infrastructural projects, including a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e896f40-de35-4eb5-a5af-794da2447234\">USD 2.5 bn<\/a> plan to develop 17 new desalination plants and Egypt\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6ebef003-0472-4513-93aa-ef59d457a5ea\">first-ever green hydrogen facility.<\/a> The fund is also considering its first green bond issuance, according to CEO Ayman Soliman, who <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a583182b-7597-4adc-92cd-aa2c35e817bf\">in December said<\/a> the SFE could sell the climate-linked securities in collaboration with unidentified \u201cpartners.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ayman-soliman\/\">Ayman Soliman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-bonds\/\">green bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-economy\/\">Green Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/new-and-renewable-energy-authority\/\">New and Renewable Energy Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewable-energy\/\">renewable energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sustainability\/\">sustainability<\/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=\"542731\" 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=\"542731\">\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\">Mining<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/mining-cities-and-egypts-first-gold-refinery-coming-soon-el-molla\/\">\r\n                            Mining \u201ccities\u201d and Egypt\u2019s first gold refinery coming soon -El Molla                        <\/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\/13\/mining-cities-and-egypts-first-gold-refinery-coming-soon-el-molla\/\" 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\/13\/mining-cities-and-egypts-first-gold-refinery-coming-soon-el-molla\/')\">\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\/13\/mining-cities-and-egypts-first-gold-refinery-coming-soon-el-molla\/\">\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=Mining \u201ccities\u201d and Egypt\u2019s first gold refinery coming soon -El Molla&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/mining-cities-and-egypts-first-gold-refinery-coming-soon-el-molla\/\">\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\/13\/mining-cities-and-egypts-first-gold-refinery-coming-soon-el-molla\/&title=Mining \u201ccities\u201d and Egypt\u2019s first gold refinery coming soon -El Molla\">\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=Mining+%E2%80%9Ccities%E2%80%9D+and+Egypt%E2%80%99s+first+gold+refinery+coming+soon+-El+Molla+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F13%2Fmining-cities-and-egypts-first-gold-refinery-coming-soon-el-molla%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\/13\/mining-cities-and-egypts-first-gold-refinery-coming-soon-el-molla\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/154.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"542732\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/mining-cities-and-egypts-first-gold-refinery-coming-soon-el-molla\/154-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/154.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"154.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/154.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/154.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542731\" class=\"content-area-description single-story post-542731 post type-post status-publish format-standard has-post-thumbnail hentry category-mining tag-eastern-desert tag-enterpriseam tag-gold tag-mining tag-oil-ministry tag-tarek-el-molla wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Egypt plans to develop industrial mining \u201ccities\u201d for the extraction of gold, <\/strong><strong>copper, and phosphate<\/strong>, <a href=\"https:\/\/www.asharqbusiness.com\/article\/31223\">Bloomberg Asharq<\/a> quoted Oil Minister Tarek El Molla as saying yesterday at the <a href=\"https:\/\/www.futuremineralssummit.com\/about-the-forum\/\">Future Minerals Forum<\/a> in Riyadh. The zones would extract and process gold in the Eastern Desert, phosphates in the Western Desert, and copper in Sinai, El Molla reportedly said.<\/p>\n<p><strong>Marsa Alam to see our first gold refinery as part of the plan:<\/strong> El Molla said at the forum that work is underway to establish the country\u2019s first accredited gold refinery in the Eastern Desert\u2019s Marsa Alam, according to a ministry <a href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/231805035801142\">statement.<\/a><\/p>\n<p><strong>Gold worth USD 1 bn?<\/strong> The area housing the gold refinery is thought to hold more than 1 mn ounces of gold, the ministry announced in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b6d5e31f-0a66-4b48-916d-e53980ccbd7f\">November<\/a>. The deposit could be worth up to USD 1 bn if estimates are proven correct. The area has an average gold concentration of 1.5 grams per tonne of rock, according to El Molla. Iqat Gold Mining Company \u2014 a joint venture company set up by the Egyptian Mineral Resources Authority and the military-owned Shalateen Mining Company \u2014 holds the concession.<\/p>\n<p><strong>The ministry aims for the mining sector to grow tenfold over the next two decades, <\/strong>which would ultimately see it contribute 5% to annual GDP, El Molla said.<\/p>\n<p><strong>The gov\u2019t is working to expand the mining industry:<\/strong> Last year\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9749041e-f303-49d6-a7ef-4167d3c68224\">gold tender<\/a> saw gold exploration licenses awarded to players including Sawiris-backed Altus Strategies subsidiary Akh Gold, Canada\u2019s Lotus Gold, Egypt\u2019s Ebdaa Gold, and the Mining and Manufacturing Company (MEDAF). The tender came following <a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/11\/mineral-resources-act-amendments-set-for-parliamentary-approval-before-summer-recess\/\">amendments<\/a> to the Mineral Resources Act that Sawiris has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7d6acc37-7a7f-4797-9b61-4dd3b5d7fd39\">said<\/a> were \u201cmore favorable and more realistic and would attract foreign investments to the sector.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eastern-desert\/\">Eastern Desert<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gold\/\">gold<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mining\/\">mining<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-ministry\/\">Oil Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tarek-el-molla\/\">Tarek El Molla<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"542733\" 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=\"542733\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/grocery-startup-tawfeer-market-secures-usd-500k-seed-funding\/\">\r\n                            Grocery startup Tawfeer Market secures USD 500k seed funding                        <\/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\/13\/grocery-startup-tawfeer-market-secures-usd-500k-seed-funding\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The Alexandria-based company said that it had received \u201ccontributions\u201d from Alexandria Business Angels Network, without mentioning whether other investors were involved in the round.<\/p>\n<p><strong>About Tawfeer Market:<\/strong> Launched in 2020, Tawfeer Market is an online grocery store. It currently stocks more than 6k products at its fulfillment centers and says deliveries are made within one hour of ordering. Its app has been downloaded more than 100k times and has completed tens of thousands of orders, which are seeing double-digit m-o-m growth, according to the statement. The company recently graduated from the AUC Venture Lab accelerator program.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-commerce\/\">e-commerce<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/venture-capital\/\">venture capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"542735\" 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=\"542735\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/542735\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542735\" class=\"content-area-description single-story post-542735 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=\"542736\" 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=\"542736\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/world-youth-forum-again-maait-talks-macro-imfs-mohielden-on-climate\/\">\r\n                            World Youth Forum, again: Maait talks macro + IMF\u2019s Mohielden on climate                        <\/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\/13\/world-youth-forum-again-maait-talks-macro-imfs-mohielden-on-climate\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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id=\"post-542736\" class=\"content-area-description single-story post-542736 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-enterpriseam tag-imf tag-last-nights-talk-shows tag-mahmoud-mohieldin tag-mohamed-maait 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 nation\u2019s talking heads couldn\u2019t stop talking about the World Youth Forum for <\/strong><strong>the third night running:<\/strong> Yahduth Fi Masr (watch, runtime: <a href=\"https:\/\/www.youtube.com\/watch?v=ETFwoHHBDAY\">7:23<\/a> | <a href=\"https:\/\/www.youtube.com\/watch?v=ChEEuohEZYQ\">3:52<\/a>), Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=EKlI4dmRzi4\">watch, runtime: 9:40<\/a>), Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=n6urzDSKlfk\">watch, runtime: 9:16<\/a>) and Ala Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=pxnz0f5mfYk\">watch, runtime: 11:38<\/a>) all had coverage of the third day of the event.<\/p>\n<p><strong>There was time for econ talk on the sidelines of the forum:<\/strong> Finance Minister <strong>Mohamed Maait<\/strong> appeared on Ala Mas\u2019ouleety to discuss inflation, bread subsidies and commodity prices among other things (<a href=\"https:\/\/www.youtube.com\/watch?v=PZ79YClrNSw\">watch, runtime: 37:02<\/a>), while IMF executive director <strong>Mahmoud Mohieldin<\/strong> talked climate change and prospects for the economy on Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=Ajf0RBl9J7g\">watch, runtime: 35:36<\/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\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mahmoud-mohieldin\/\">Mahmoud Mohieldin<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-maait\/\">Mohamed Maait<\/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=\"542737\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button 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   <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/egypt-in-the-news-womens-rights-dominates-the-conversation-after-activist-jailed-teacher-fired-for-belly-dancing\/\">\r\n                            Egypt in the News: Women\u2019s rights dominates the conversation after activist jailed, teacher fired for belly-dancing                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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        <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542738\" class=\"content-area-description single-story post-542738 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-amnesty-international tag-enterpriseam tag-gender tag-human-rights wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Women\u2019s rights are getting attention in the foreign press this morning:<\/strong> <a href=\"https:\/\/www.bbc.com\/news\/world-middle-east-59960477\">The BBC<\/a> picks up the story of a teacher who was sacked from her job and divorced by her husband after she was filmed belly-dancing at a party on a Nile boat. Reuters has a piece on how digital gameya have <a href=\"https:\/\/www.csmonitor.com\/World\/Middle-East\/2022\/0112\/In-Egypt-businesswomen-use-an-ancient-system-to-stay-afloat\">offered a lifeline<\/a> to women entrepreneurs in Egypt since the pandemic. Meanwhile, <a href=\"https:\/\/www.amnesty.org\/en\/latest\/news\/2022\/01\/egypt-hopes-for-justice-crushed-as-court-confirms-prison-term-for-womens-rights-defender\/\">Amnesty International<\/a> is out with a statement criticizing a court decision to jail for one year a human rights activist who accused the government of not doing enough to protect women from harassment.<\/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\/amnesty-international\/\">Amnesty International<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gender\/\">gender<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"542739\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"542740\" 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=\"542740\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/air-supply-kima-ink-egp-260-mn-agreement-for-gas-factory-in-aswan-complex\/\">\r\n                            Air Supply, Kima ink EGP 260 mn agreement for gas factory in Aswan complex                        <\/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\/13\/air-supply-kima-ink-egp-260-mn-agreement-for-gas-factory-in-aswan-complex\/\" 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\/13\/air-supply-kima-ink-egp-260-mn-agreement-for-gas-factory-in-aswan-complex\/')\">\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\/13\/air-supply-kima-ink-egp-260-mn-agreement-for-gas-factory-in-aswan-complex\/\">\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=Air Supply, Kima ink EGP 260 mn agreement for gas factory in Aswan complex&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/air-supply-kima-ink-egp-260-mn-agreement-for-gas-factory-in-aswan-complex\/\">\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\/13\/air-supply-kima-ink-egp-260-mn-agreement-for-gas-factory-in-aswan-complex\/&title=Air Supply, Kima ink EGP 260 mn agreement for gas factory in Aswan complex\">\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=Air+Supply%2C+Kima+ink+EGP+260+mn+agreement+for+gas+factory+in+Aswan+complex+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F13%2Fair-supply-kima-ink-egp-260-mn-agreement-for-gas-factory-in-aswan-complex%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\/13\/air-supply-kima-ink-egp-260-mn-agreement-for-gas-factory-in-aswan-complex\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542740\" class=\"content-area-description single-story post-542740 post type-post status-publish format-standard hentry category-also-on-our-radar tag-abdel-fattah-el-sisi tag-agriculture tag-also-on-our-radar tag-central-bank-of-egypt tag-cybersecurity tag-elsewedy-electric tag-enterpriseam tag-internet-of-things tag-national-telecom-regulatory-authority tag-suez-canal wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Air Supply and K<\/strong><strong>ima ink agreement for new gas production project:<\/strong> Air Supply Group signed an EGP 260 mn agreement to construct, manage, and operate a medicinal gas factory at Kima\u2019s Aswan complex, <a href=\"https:\/\/hapijournal.com\/?p=170106\">Hapi Journal reported<\/a>. Some of the oxygen and nitrogen produced at the factory, which is set to start operating in 1Q2023, will go towards Kima\u2019s production of ammonia nitrate. Air Supply was founded in 2010 and <a href=\"https:\/\/eg.linkedin.com\/in\/airsupplygroup\">specializes i<\/a><a href=\"https:\/\/eg.linkedin.com\/in\/airsupplygroup\">n the production<\/a> of industrial and medical gasses as well as other chemicals.<\/p>\n<p><strong>The Central Bank of Egypt<\/strong> has <a href=\"https:\/\/ent.news\/2022\/1\/%D8%A8%D9%8A%D8%A7%D9%86-%D8%B5%D8%AD%D9%81%D9%8A-%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D9%8A%D8%B7%D9%84%D9%82-%D9%85%D8%B1%D9%83%D8%B2-%D9%85%D8%AA%D9%83%D8%A7%D9%85%D9%84-%D9%84%D8%A3%D9%85%D9%86-%D8%A7%D9%84%D9%85%D8%B9%D9%84%D9%88%D9%85%D8%A7%D8%AA-.pdf\">established (pdf)<\/a> an <strong>information security center<\/strong> in a bid to bolster banks\u2019 <strong>cybersecurity<\/strong>.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li>The <strong>Suez Canal Authority<\/strong> <a href=\"https:\/\/www.reuters.com\/article\/idUSKBN2JM1T6\">wants to increase<\/a> its <strong>share of global energy trade<\/strong> to <strong>15% by 2040<\/strong>, up from 8% in 2019.<\/li>\n<li><strong>Elsewedy to light up the new capital: <\/strong>Elsewedy Electric for Trading and Distribution signed an EGP 443.4 mn <a href=\"https:\/\/ent.news\/2022\/1\/Elsewedy-Electric-english-.pdf\">contract (pdf)<\/a> to light the New Administrative Capital\u2019s South Ben Zayed Road.<\/li>\n<li><strong>E-waste recycling company <\/strong><strong>Recycle Key<\/strong> <a href=\"https:\/\/bit.ly\/3zSo6Dh\">will invest EGP 200 mn<\/a> to establish its second factory in the Sadat City Industrial Zone, set to be completed by the end of the year.<\/li>\n<li><strong>The National Telecom Regulatory Authority <\/strong>has <a href=\"https:\/\/ent.news\/2022\/1\/%D8%A7%D9%84%D8%AC%D9%87%D8%A7%D8%B2-%D8%A7%D9%84%D9%82%D9%88%D9%85%D9%8A-%D9%84%D8%AA%D9%86%D8%B8%D9%8A%D9%85-%D8%A7%D9%84%D8%A7%D8%AA%D8%B5%D8%A7%D9%84%D8%A7%D8%AA-%D9%8A%D8%B5%D8%AF%D8%B1-%D8%A7%D9%84%D8%A5%D8%B7%D8%A7%D8%B1-%D8%A7%D9%84%D8%AA%D9%86%D8%B8%D9%8A%D9%85%D9%8A-%D9%84%D8%AA%D9%82%D8%AF%D9%8A%D9%85-%D8%AE%D8%AF%D9%85%D8%A7%D8%AA-%D8%A7%D9%86%D8%AA%D8%B1%D9%86%D8%AA-%D8%A7%D9%84%D8%A3%D8%B4%D9%8A%D8%A7%D8%A1-%D8%A8%D8%B3%D9%88%D9%82-%D8%A7%D9%84%D8%A7%D8%AA%D8%B5%D8%A7%D9%84%D8%A7%D8%AA-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A.pdf\">issued (pdf)<\/a> the <strong>regulatory <\/strong><strong>framework<\/strong> for the provision of <strong>Internet of Things (IoT) services<\/strong>.<\/li>\n<li><strong>Land reclamation: <\/strong>More than 2 mn feddans of agricultural land will be reclaimed in the next two years, President Abdel Fattah El-Sisi has <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=13012022&id=a90c1c37-bd76-40cb-a1f1-ab58223bfa33\">reportedly<\/a> said.<\/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\/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\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/cybersecurity\/\">cybersecurity<\/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\/internet-of-things\/\">internet of things<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-telecom-regulatory-authority\/\">National Telecom Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal\/\">Suez Canal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"542741\" 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=\"542741\">\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\/13\/frequent-boosters-could-tire-the-immune-system-novartis-seeks-fda-approval-for-covid-antiviral\/\">\r\n                            Frequent boosters could tire the immune system + Novartis seeks FDA approval for covid antiviral                        <\/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\/13\/frequent-boosters-could-tire-the-immune-system-novartis-seeks-fda-approval-for-covid-antiviral\/\" 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\/13\/frequent-boosters-could-tire-the-immune-system-novartis-seeks-fda-approval-for-covid-antiviral\/')\">\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\/13\/frequent-boosters-could-tire-the-immune-system-novartis-seeks-fda-approval-for-covid-antiviral\/\">\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=Frequent boosters could tire the immune system + Novartis seeks FDA approval for covid antiviral&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/frequent-boosters-could-tire-the-immune-system-novartis-seeks-fda-approval-for-covid-antiviral\/\">\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\/13\/frequent-boosters-could-tire-the-immune-system-novartis-seeks-fda-approval-for-covid-antiviral\/&title=Frequent boosters could tire the immune system + Novartis seeks FDA approval for covid antiviral\">\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=Frequent+boosters+could+tire+the+immune+system+%2B+Novartis+seeks+FDA+approval+for+covid+antiviral+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F13%2Ffrequent-boosters-could-tire-the-immune-system-novartis-seeks-fda-approval-for-covid-antiviral%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\/13\/frequent-boosters-could-tire-the-immune-system-novartis-seeks-fda-approval-for-covid-antiviral\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542741\" class=\"content-area-description single-story post-542741 post type-post status-publish format-standard hentry category-covid-watch tag-covid-19 tag-enterpriseam tag-fda tag-novartis tag-vaccines wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/247357914242097\">reported<\/a><\/strong> <strong>948 new covid-19 infections yesterday<\/strong>, up from <a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/246715980972957\">932<\/a> the day before. Egypt has now disclosed a total of 395,688 confirmed cases of covid-19. The ministry also reported 28 new deaths, bringing the country\u2019s total death toll to 22,042.<\/p>\n<p><strong>Frequent covid boosters could adversely affect the immune system, warned the <\/strong><strong>European Medicines Agency (EMA) at a <\/strong><strong>press briefing<\/strong> on Monday (<a href=\"https:\/\/www.ema.europa.eu\/en\/events\/ema-regular-press-briefing-covid-19-11#event-summary-section\">watch, runtime: 45:41<\/a>). Boosters \u201ccan be done once, or maybe twice, but it\u2019s not something that we can think should be repeated constantly,\" said Marco Cavaleri, the EMA\u2019s head of biological health threats and vaccines. As covid transitions from a pandemic into an endemic phase, governments would be wiser to space out booster campaigns and tie them to the onset of winter, as is done with flu shots, he said.<\/p>\n<p><strong>New covid antiviral on the block:<\/strong> Swiss drugmaker Novartis will seek US regulatory approval for its ensovibep antiviral, which was shown to reduce the risk of covid-related hospitalization or death by 78% in a phase 2 study, the company <a href=\"https:\/\/www.novartis.com\/news\/media-releases\/novartis-and-molecular-partners-report-positive-topline-data-from-phase-2-study-ensovibep-mp0420-darpin-antiviral-therapeutic-covid-19\">said in a statement<\/a>. Unlike antiviral covid pills from the likes of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1926328f-42fc-41bb-8509-b56ae5cc4e3b\">Merck<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e036ca10-2dc3-4f0c-b458-0bb295046d17\">Pfizer<\/a> \u2014 both of which are set to become available locally soon \u2014 the Novartis drug is delivered intravenously.<\/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\/fda\/\">FDA<\/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=\"542742\" 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=\"542742\">\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\/13\/high-real-rates-ward-off-bears-in-em-fx-markets-ksa-plans-equities-splurge\/\">\r\n                            High real rates ward off bears in EM FX markets + KSA plans equities splurge                        <\/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\/13\/high-real-rates-ward-off-bears-in-em-fx-markets-ksa-plans-equities-splurge\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The MSCI index of EM currencies hit a four-month high last week as rate hikes in developing economies provide a buffer against rising US treasury yields. Morgan Stanley strategists have called the bottom to EM currencies, while Citigroup has dialed back bearish bets on the asset class.<\/p><p><strong>Saudi Arabia\u2019s sovereign wealth fund is planning a buying spree in the equity <\/strong><strong>markets this year<\/strong>, investing around USD 10 bn in public companies as it tries to more than double its assets by the middle of the decade, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-12\/saudi-wealth-fund-plans-to-invest-10-billion-in-stocks-in-2022?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> reports. The Public Investment Fund holds some USD 500 bn in assets. It aggressively bought the dip at the pandemic\u2019s outset, using some USD 40 bn from the country\u2019s reserves to buy shares in companies including Citigroup, Facebook and cruise company Carnival.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\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>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>12,060<\/p>\n<\/td>\n<td>\n<p>+0.5% (YTD: +0.9%)<\/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>11,957<\/p>\n<\/td>\n<td>\n<p>+1.0% (YTD: +6.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>8,371<\/p>\n<\/td>\n<td>\n<p>+0.5% (YTD: -1.4%)<\/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>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,208<\/p>\n<\/td>\n<td>\n<p>+0.0% (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>4,726<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: -0.8%)<\/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>7,552<\/p>\n<\/td>\n<td>\n<p>+0.8% (YTD: +2.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 84.85<\/p>\n<\/td>\n<td>\n<p>+1.4%<\/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 4.86<\/p>\n<\/td>\n<td>\n<p>+14.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,827<\/p>\n<\/td>\n<td>\n<p>+0.5%<\/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>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 43,817<\/p>\n<\/td>\n<td>\n<p>+2.6% (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 rose 0.5% at today\u2019s close <\/strong>on turnover of EGP 937 mn (22.5% below the 90-day average). Foreign investors were net sellers. The index is up 0.9% YTD.<\/p><p><strong>In the green: <\/strong>AMOC (+5.4%), Telecom Egypt (+2.8%) and Rameda (+2.4%).<\/p><p><strong>In the red: <\/strong>Speed Medical (-2.9%), Heliopolis Housing (-2.7%) and Fawry (-2.5%).<\/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\/currencies\/\">currencies<\/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\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/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=\"542743\" 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=\"542743\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/the-us-isnt-keen-on-the-greece-israel-gas-pipeline\/\">\r\n                            The US isn\u2019t keen on the Greece-Israel gas pipeline                        <\/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\/13\/the-us-isnt-keen-on-the-greece-israel-gas-pipeline\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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In a note to Greece, \"the American side expressed to the Greek side reservations as to the rationale of the EastMed pipeline, (and) raised issues of its economic viability and environmental (issues),\" one source told the newswire. The EUR 6 bn pipeline, which had been backed by the Trump administration, has been planned for several years, and the participating countries are hoping to finalize funding for the project later this year.<\/p>\n<p><strong>The tide may be turning in Ethiopia\u2019s civil war<\/strong> as government forces reportedly push back Tigray rebel fighters who a few weeks ago were threatening to enter the nation\u2019s capital, <a href=\"https:\/\/www.wsj.com\/articles\/ethiopian-government-repels-rebels-pledges-peace-talks-11642005374?mod=Searchresults_pos1&page=1\">the Wall Street Journal<\/a> reports. The military has retaken several towns and forced the Tigray People\u2019s Liberation Front force to retreat back to their northern homeland, lessening pressure on the country\u2019s prime minister, Abiy Ahmed, who in recent days has released several opposition leaders from prison and pledged to open peace talks.<\/p>\n<p><strong>Lebanese central bank governor Riad Salameh has been banned from leaving <\/strong><strong>Lebanon<\/strong> by a judge as authorities investigate allegations that he helped to launder money and embezzle bank funds. (<a href=\"https:\/\/news.yahoo.com\/lebanese-judge-imposes-travel-ban-165809170.html\">Reuters<\/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\/around-the-world\/\">Around the World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/corruption\/\">Corruption<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eastern-mediterranean\/\">Eastern Mediterranean<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ethiopia\/\">Ethiopia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/greece\/\">Greece<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lebanon\/\">Lebanon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/war\/\">war<\/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=\"542744\" 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=\"542744\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/my-morning-routine-dr-asser-salama-founder-and-ceo-of-easy-care\/\">\r\n                            My Morning Routine: Dr. Asser Salama, founder and CEO of Easy Care                        <\/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\/13\/my-morning-routine-dr-asser-salama-founder-and-ceo-of-easy-care\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Speaking to us this week is Asser Salama (<a href=\"https:\/\/eg.linkedin.com\/in\/asser-salama-97b43525\">LinkedIn<\/a>), a trained cardiologist and founder and CEO of FMCG player <a href=\"https:\/\/www.easy-hbc.com\/\">Easy Care<\/a>. Edited excerpts from our conversation follow:<\/p>\n<p><strong>My name is Dr. Asser Salama, I am a physician and CEO of Easy Care Group. <\/strong>I stopped practicing medicine 15 years ago to focus on business and then I finished my MBA and did my postgraduate at Harvard Business School. I am a certified instructor and I teach contemporary management at AUC, the Arab Academy of Science and Technology (AAST), ESLSCA and Alexandria University.<\/p>\n<p> <strong>Easy Care is trying to make expensive products affordable to the masses<\/strong> and democratize non-food FMCG products. We are a market leader in sanitary products like baby wipes and disinfectant wipes as well as personal care goods like shower gel, hand soap and alcohol sanitizers.<\/p>\n<p><strong>We have been in the market for almost 20 years now, evolving from an SME into a market leader. <\/strong>We are one of the few companies that went from being microfinanced to being a holding company. Today, we have four factories across Egypt and we are in every household. We like to say that we introduced the culture of wipes in Egypt, and we sell 2 mn units of our hair removal product Easy Sweet each month.<\/p>\n<p><strong>I am an early bird, I wake up at 6 or 7am and I do my prayers. <\/strong>Then I ask myself two questions: How can we sell more, and how can we reduce our costs, without compromising on quality.<\/p>\n<p><strong>I am kind of a workaholic and work 14-15 hours a day.<\/strong>I believe that work-life balance depends on the person, but personally I find my passion in my work. Being a CEO is a little like being a theater director \u2014 you have to get people to do more and be more, and figure out how the people around you can help you achieve your goals.<\/p>\n<p><strong>I go to work everyday, but not necessarily to the office or to a factory. <\/strong>I\u2019m a very mobile person and I love to move around and spend time with my customers. The market is my office. And technology allows me to do my business anytime, anywhere. My role is more strategic leadership than management. I\u2019m not a GM and I don\u2019t want to be. I have to dedicate more time to looking to the future to assess our weaknesses and strengths.<\/p>\n<p><strong>I am a hope seller. My responsibility is to lead the team amid uncertainty by giving them hope and setting the stage for them to perform better.<\/strong> Motivation is important, but hope is what creates excellence, positivity and security. You have to appreciate people for their work everyday. I believe that people perform better because they are appreciated, not necessarily because they are paid better.<\/p>\n<p><strong>I stay focused and organized by being clear about what I\u2019m not going to do. <\/strong>You have to be clear about what you need to delegate. Any business owner can get caught up in daily operations and lose sight of the big picture.<\/p>\n<p><strong>I started teaching an MBA program by chance five years ago. At first, I wanted to quit because I was so awful. <\/strong>Then my wife told me to take a step back and reconsider my strategy, so I decided to treat my students like employees and it made all the difference. My nickname at university is professor chairman and 15% of my students have quit their jobs and are pursuing their own business.<\/p>\n<p><strong>Teaching has really changed my life. <\/strong>If you really want to learn about something, don\u2019t read about it, teach it. There was so much that I thought I knew, but I understood it in a completely very different way when I started teaching it. Management is a social science and it\u2019s a culture.<\/p>\n<p><strong>My favorite way to switch off is to watch a sitcom or read a book. <\/strong>I love to watch Modern Family and I like books on history and strategy, but that\u2019s only if I have time. I also love to cook Asian and Indian food. It is a passion of mine and I am seriously thinking of getting a degree in cooking. It\u2019s a kind of entrepreneurship in its own way: you take raw materials and limited resources and make something with it.<\/p>\n<p><strong>The best piece of advice that life has taught me is to give hope. <\/strong>You don\u2019t lose when you lose business, you lose when you lose hope.<\/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\/asser-salama\/\">Asser Salama<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/easy-care\/\">Easy Care<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/easy-sweet\/\">Easy Sweet<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fmcg\/\">FMCG<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/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=\"542746\" 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\/13\/542746\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542746\" class=\"content-area-description single-story post-542746 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>30-31 January (Sunday-Monday): <a href=\"https:\/\/alborsaanews.com\/2022\/01\/12\/1498617\">Ins. Federation of Egypt medical ins. forum<\/a>.<\/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":542724,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-542723","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"778807e0-b4e3-41eb-8dd7-ab68f10949c7","teaser":"","photo_url":"https:\/\/ent.news\/2022\/1\/150.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>SFE reportedly eyeing renewable energy fund - 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\/sfe-reportedly-eyeing-renewable-energy-fund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SFE reportedly eyeing renewable energy fund\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/sfe-reportedly-eyeing-renewable-energy-fund\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T19:59:48+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\/150.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\/sfe-reportedly-eyeing-renewable-energy-fund\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/sfe-reportedly-eyeing-renewable-energy-fund\/\",\"name\":\"SFE reportedly eyeing renewable energy fund - 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