{"id":542931,"date":"2022-01-25T03:57:44","date_gmt":"2022-01-25T03:57:44","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=542931"},"modified":"2025-12-15T20:04:48","modified_gmt":"2025-12-15T20:04:48","slug":"tourism-is-back","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/tourism-is-back\/","title":{"rendered":"Tourism is back"},"content":{"rendered":"<section id=\"542933\" 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=\"542933\">\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\/25\/this-morning-us-chamber-of-commerce-cop27-conference-continues-wild-day-in-us-stocks-imf-outlook-out-today-fed-meeting-starts-today\/\">\r\n                            THIS MORNING: US Chamber of Commerce COP27 conference continues; Wild day in US stocks; IMF outlook out today; Fed meeting starts today.                        <\/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\/25\/this-morning-us-chamber-of-commerce-cop27-conference-continues-wild-day-in-us-stocks-imf-outlook-out-today-fed-meeting-starts-today\/\" 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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IMF outlook out today; Fed meeting starts today.&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/this-morning-us-chamber-of-commerce-cop27-conference-continues-wild-day-in-us-stocks-imf-outlook-out-today-fed-meeting-starts-today\/\">\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\/25\/this-morning-us-chamber-of-commerce-cop27-conference-continues-wild-day-in-us-stocks-imf-outlook-out-today-fed-meeting-starts-today\/&title=THIS MORNING: US Chamber of Commerce COP27 conference continues; Wild day in US stocks; IMF outlook out today; Fed meeting starts today.\">\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+US+Chamber+of+Commerce+COP27+conference+continues%3B+Wild+day+in+US+stocks%3B+IMF+outlook+out+today%3B+Fed+meeting+starts+today.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F25%2Fthis-morning-us-chamber-of-commerce-cop27-conference-continues-wild-day-in-us-stocks-imf-outlook-out-today-fed-meeting-starts-today%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\/25\/this-morning-us-chamber-of-commerce-cop27-conference-continues-wild-day-in-us-stocks-imf-outlook-out-today-fed-meeting-starts-today\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542933\" class=\"content-area-description single-story post-542933 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-climate tag-commodities tag-cop27 tag-diplomacy tag-earnings tag-egx tag-enterpriseam tag-equities tag-eu tag-financial-markets tag-food tag-food-security tag-gold tag-imf tag-inflation tag-interest-rates tag-ipo-watch tag-mining tag-nahr-elkhair-development-and-investment tag-politics tag-renewable-energy tag-russia tag-sovereign-fund-of-egypt tag-ukraine tag-us tag-us-chamber-of-commerce tag-wataniya-petroleum tag-what-were-tracking-today tag-wheat tag-world-economic-outlook wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Good morning, wonderful people, and happy hump day. <\/strong>What are you doing this morning to stay warm? Most of us here at Enterprise World Headquarters believe this is the coldest winter any of us have lived through in our fair country, and it seems we\u2019re not alone: Many readers we\u2019ve spoken with in the past few days share the sentiment.<\/p><p><strong>PSA #1- If you think it\u2019s cold this morning, wait for tomorrow. <\/strong>Our favorite weather app is telling us to expect a daytime high of just 11\u00b0C on Wednesday along with stiff winds and a chance of up to 5 mm of rain.<\/p><p><strong>Complaining about the weather aside: <\/strong>It\u2019s a busy news morning here and abroad, including word from loyalty services provider Dsquares that it is <em>not <\/em>planning to SPAC, contrary to a report by Al Shorouk that we noted yesterday. And yesterday was another wild day on Wall Street, as shares clawed their way back from a steep selloff earlier in the day. You can practically hear the bears salivating. We have chapter and verse on these stories and more below.<\/p><p><strong>*** DID YOU MISS THE RESULTS OF OUR 2021 ENTERPRISE READER SURVEY?<\/strong> The emergence of the delta and omicron variants, supply chain issues, and surging commodity prices did little to put a damper on business, with the vast majority of you saying 2021 was a good year. <strong>Optimism is the prevailing sentiment as we push ahead with 2022<\/strong>, with most respondents signaling plans to increase investments this year and suggesting they see their companies faring better than the competition. <strong><a href=\"https:\/\/enterprise.press\/2022\/01\/23\/enterprise-2022-reader-poll-results\/\">Tap \/ click here<\/a><\/strong><strong> to see the full results.<\/strong><\/p><p><strong>We\u2019ll be announcing on Sunday the names of eight readers who we\u2019re inviting to<\/strong> <strong>breakfast <\/strong>when this current wave of the pandemic eases. And speaking of the pandemic: There\u2019s growing optimism among some global health officials that omicron could indeed mark \u201c plausible hope for stabilization and normalization.\u201d In other words: It may signal that <a href=\"https:\/\/www.nytimes.com\/live\/2022\/01\/24\/world\/omicron-covid-vaccine-tests\/who-expresses-hope-that-omicrons-spread-could-lead-to-stabilization-and-normalization\">things are starting to wind down<\/a>.<\/p><p><strong>PSA #2- It\u2019s a four-day workweek:<\/strong> The Manpower Ministry <a href=\"https:\/\/www.facebook.com\/photo.php?fbid=323750509795376&amp;set=a.144073987763030&amp;type=3&amp;theater\">confirmed<\/a> that the private sector will be taking this Thursday off in observance of the 25 January Revolution \/ Police Day. The central bank and Prime Minister Moustafa Madbouly have in recent days announced that banks and the public sector will have the day off \u2014 and banks closing means the EGX will be following suit.<\/p><p><strong>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p><p><strong>It\u2019s the second and final day of a <\/strong><strong>virtual conference<\/strong><strong> on this year\u2019s COP27 climate summit<\/strong> <strong>in Sharm El Sheikh.<\/strong> Day 2 will see sessions on water security, renewable energy and green technology, attended by representatives of American multinationals, US policymakers and Egyptian cabinet ministers. The event is being hosted by the US Chamber of Commerce in association with AmCham. Check out the full agenda <a href=\"https:\/\/events.uschamber.com\/uscc012422\/agenda\">here<\/a>.<\/p><p><strong>The headlines coming out of Day 1:<\/strong><\/p><ul>\n<li><strong>US climate envoy John Kerry warned that the world is \u201cin trouble\u201d<\/strong> and urged governments to step up their efforts to reduce emissions. (<a href=\"https:\/\/www.reuters.com\/world\/us\/were-trouble-kerry-warns-countries-off-track-climate-goals-2022-01-24\/\">Reuters<\/a>)<\/li>\n<li><strong>Egypt will use this year\u2019s summit to promote the role of public-private partnerships<\/strong> in the green transition, Prime Minister Moustafa Madbouly said. (<a href=\"https:\/\/www.mena.org.eg\/en\/news\/dbcall\/table\/textnews\/id\/9383359\">MENA<\/a>)<\/li>\n<li><strong>Egypt wants to take a lead role mobilizing finance<\/strong> and distributing clean tech to other developing countries, said foreign minister and COP27 president Sameh Shoukry. (<a href=\"https:\/\/www.reuters.com\/world\/us\/were-trouble-kerry-warns-countries-off-track-climate-goals-2022-01-24\/\">Reuters<\/a> | <a href=\"https:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/456856\/Egypt\/Politics-\/Egypt-to-focus-on-how-private-sector-can-play-role.aspx\">Ahram Online<\/a>)<\/li>\n<\/ul><p><strong>Nahr Elkhair Development and Investment\u2019s shares are set to start trading on the EGX <\/strong><strong>today<\/strong> after the bourse <a href=\"https:\/\/ent.news\/2022\/1\/nahr-el-kheir-trading.jpg\">gave the green light yesterday<\/a>. The company will directly list its shares on the bourse, without selling shares to investors, according to <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=22012022&amp;id=65cd81cb-4ab8-4a37-8790-46e01a5a2ddd\">Al Shorouk<\/a>.<\/p><p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>The IMF\u2019s World Economic Outlook Update will be published <\/strong><strong>today<\/strong><strong>.<\/strong> The report was scheduled to be released last week, but its publication was pushed to give it time to incorporate the latest omicron-related developments.<\/p><p><strong>The report will come out a few hours before the US Federal Reserve sits down for its first <\/strong><strong>Open Market Committee meeting of 2022.<\/strong> The two-day meeting is widely expected to see the Fed confirm that it will make the first in a series of 0.25-percentage-point interest rate hikes in March, as the US central bank looks to curb rising inflation. The Central Bank of Egypt will follow with its own Monetary Policy Committee meeting next Thursday, 3 February.<\/p><p><strong>The presidents of Egypt and Algeria will meet today. <\/strong>Expect regional issues including Libya and Palestine to be high on the agenda, according to last night\u2019s talk shows.<\/p><hr class=\"grey-line\"><p><strong>THE BIG STORIES ABROAD-<\/strong><\/p><p><strong>Geopolitical tensions are continuing to rise in eastern Europe as the US + Nato <\/strong><strong>mobilize military forces to counter Russia.<\/strong> The US has put 8.5k troops on alert and Nato is sending ships and fighter jets to eastern Europe in response to Russia\u2019s military build-up on the Ukrainian border. The story is everywhere this morning from <a href=\"https:\/\/www.reuters.com\/world\/europe\/nato-sends-ships-jets-eastern-europe-ukraine-crisis-2022-01-24\/\">Reuters<\/a> and <a href=\"https:\/\/apnews.com\/article\/russia-ukraine-tensions-live-updates-1c3eee4895926233aa85ad52ef09d102\">the AP<\/a> to the <a href=\"https:\/\/www.ft.com\/content\/618cfd17-ca27-435b-9cbf-cf1be46f5aed\">Financial Times<\/a> and the <a href=\"https:\/\/www.wsj.com\/articles\/nato-to-send-ships-jet-fighters-to-eastern-europe-amid-standoff-with-russia-11643026393\">Wall Street Journal<\/a>.<\/p><p><strong>It\u2019s still not clear where Europe stands:<\/strong> Though the US and Nato have been pressing for a united front among Western nations, it\u2019s far from certain what actions Berlin and Paris are prepared to support, given the economic and security risks involved. Yesterday, Germany <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-24\/germany-stands-firm-after-ukraine-arms-refusal-rocks-allies?srnd=premium-middle-east&amp;sref=mmeFTDW1\">again refused<\/a> to follow the US and UK in shipping arms into Ukraine, while EU foreign policy chief Josep Borrell suggested that Washington and London were \u201cdramatizing\u201d the situation by <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/11054dab-4422-43de-886a-0b7c5620b27b\">evacuating the families of diplomats<\/a> in Kiev. And while the EU <a href=\"https:\/\/www.reuters.com\/world\/europe\/eu-leave-diplomats-families-ukraine-now-borrell-says-2022-01-24\/\">threatened Moscow with \u201cmassive sanctions\u201d<\/a> yesterday, there were no details about what actions it could take.<\/p><p><strong>How could conflict in the Donbas impact Egypt\u2019s food security?<\/strong> We have answers in this morning\u2019s news well, below.<\/p><p><strong>Helping us remember the (much) bigger picture today: Nasa\u2019s <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/45e90dbc-8a13-45f5-b735-db1152f4b43a\">super-powerful new<\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/45e90dbc-8a13-45f5-b735-db1152f4b43a\">telescope<\/a><\/strong><strong> has arrived in position, roughly 1 mn miles from Earth<\/strong>, a month after it was launched into space, the US space agency <a href=\"https:\/\/blogs.nasa.gov\/webb\/2022\/01\/24\/orbital-insertion-burn-a-success-webb-arrives-at-l2\/\">announced<\/a> yesterday. The James Webb Space Telescope is around 100x more powerful than its predecessor, the Hubble telescope, and is expected to provide us with a glimpse of some of the earliest moments of the universe \u2014 and maybe even help answer the question \u201cAre we alone in this universe?\u201d The story is getting coverage everywhere from <a href=\"https:\/\/www.reuters.com\/world\/us\/nasas-new-space-telescope-nears-destination-solar-orbit-2022-01-24\/\">Reuters<\/a> and <a href=\"https:\/\/apnews.com\/article\/nasa-james-webb-telescope-arrives-space-9ea15e4bddaead131d4fcb6b07c53529\">the AP<\/a> to the <a href=\"https:\/\/www.washingtonpost.com\/science\/2022\/01\/24\/webb-space-telescope-final-destination\/\">Washington Post<\/a> and the <a href=\"https:\/\/www.wsj.com\/articles\/nasas-james-webb-space-telescope-reaches-final-destination-11643058459\">Wall Street Journal<\/a>.<\/p><p><strong>(MUCH) CLOSER TO HOME- <\/strong><strong>Hariri will sit out Lebanon\u2019s upcoming elections: <\/strong>Saad Al Hariri, former Lebanese prime minister and current leader of the country\u2019s largest Sunni political party, yesterday announced he was stepping away from politics and would not stand in the country\u2019s May parliamentary elections, <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/lebanons-hariri-expected-announce-election-boycott-party-members-say-2022-01-24\/\">Reuters<\/a> reports. Hariri also called on his Future Movement party to boycott the polls. Lebanon <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/lebanon-deputy-pm-talks-with-imf-focus-budget-banking-sector-exchange-rate-2022-01-24\/\">yesterday began virtual talks<\/a> with the IMF on potential funding to help it claw its way out of a deep economic crisis.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>MARKET WATCH- It was a wild day\u2019s trading in the US yesterday<\/strong> as benchmark indexes made a stunning recovery from a heavy morning sell-off to close in the black. Reeling from anticipated interest rate hikes in the US and rising geopolitical tensions in Europe, <strong>the S&amp;P 500 fell as much as 4% early in the session \u2014 putting it in correction territory<\/strong> \u2014 while the tech-heavy Nasdaq continued its downward spiral, at one point nearing -5%. Cue the dip-buyers, who stepped in early in the afternoon and led the market to an extraordinary reversal that saw the S&amp;P close 0.3% in the black and the Nasdaq gain 0.6%. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-23\/stocks-may-extend-drop-on-fed-tightening-concerns-markets-wrap?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> and the <a href=\"https:\/\/www.ft.com\/content\/dbc738b8-4f9c-49e6-814e-39d205bbf766\">Financial Times<\/a> have more.<\/p><p><strong>Asian markets aren\u2019t impressed with the US rally this morning:<\/strong> Shares across the continent are in the red in early trading this morning, as are European futures which suggest that yesterday\u2019s hefty sell-off will continue into today. Meanwhile in the US, stocks are currently on course to reverse yesterday\u2019s hard-fought gains in early trading, with futures pointing to the S&amp;P 500, Dow Jones and Nasdaq all opening in the red.<\/p><p><strong>Could earnings seasons halt the tech slide?<\/strong> Investors will be hoping that US tech giants avoid <a href=\"https:\/\/www.bloomberg.com\/news\/newsletters\/2022-01-23\/why-netflix-just-had-its-worst-day-in-a-decade\">Netflix\u2019s dismal earnings release<\/a> and provide some market uplift when they publish their financials this week. Microsoft is up today, Meta \/ Facebook and Tesla publish tomorrow, and it\u2019s Apple\u2019s turn on Thursday. Google parent Alphabet (1 February) and Amazon (3 February) aren\u2019t expected to report until next week.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/INFINITY-Top-banner-EN-1600x675-v2-02.png?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p><p><strong>In today\u2019s issue: <\/strong>Egypt\u2019s bike-sharing program Bicicletta will debut on Egypt\u2019s streets in March, after years in the making. The project gives us an alternative, environmentally-friendly means of public transport in Cairo, starting first with Downtown and Zamalek, before eventually expanding throughout the country.<\/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\/climate\/\">Climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/equities\/\">equities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/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\/food\/\">food<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food-security\/\">food security<\/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\/imf\/\">IMF<\/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\" 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<\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"542934\" 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=\"542934\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/542934\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542934\" class=\"content-area-description single-story post-542934 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-02-1.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"542935\" 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=\"542935\">\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\">Tourism<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/tourism-revenues-returned-to-pre-pandemic-levels-in-2021\/\">\r\n                            Tourism revenues returned to pre-pandemic levels in 2021                        <\/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\/25\/tourism-revenues-returned-to-pre-pandemic-levels-in-2021\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            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data-attachment-id=\"542936\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/tourism-revenues-returned-to-pre-pandemic-levels-in-2021\/321-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/321.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"321.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/321.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/321.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542935\" class=\"content-area-description single-story post-542935 post type-post status-publish format-standard has-post-thumbnail hentry category-tourism tag-enterpriseam tag-ghada-shalaby tag-russia tag-tourism 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>It\u2019s official: Tourism is back.<\/strong> Tourism revenues surpassed USD 13 bn in 2021, returning to pre-pandemic levels, <a href=\"https:\/\/alborsaanews.com\/2022\/01\/24\/1502098\">Al Borsa<\/a> reports Deputy Tourism Minister Ghada Shalaby as saying, citing a Reuters story. The sector has been <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2f6b025d-8ac4-419e-862c-870ce406ae4b\">recovering<\/a> on the back of the lifting of travel restrictions worldwide and mass vaccination programs at home and abroad. Tourism revenues hit a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/18fd2904-574f-44f6-8a05-4fecfdae7531\">record high of USD<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/18fd2904-574f-44f6-8a05-4fecfdae7531\">13.03<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/18fd2904-574f-44f6-8a05-4fecfdae7531\">bn in 2019<\/a> before dropping <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3106a1b0-6cfc-4c04-80c9-8da5fe98049e\">nearly 70% in 2020<\/a> on the back of the pandemic.<\/p>\n<p><strong>The recovery looks to have been faster than anyone expected:<\/strong> 2021 revenues eclipsed the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9dfb2aca-9170-4294-8bfe-e91864b1a1f6\">USD 6-9 bn<\/a> target set by the ministry last summer. And lest we forget, this time last year the ministry wasn\u2019t hoping for a recovery in tourist numbers until the fall of 2022 \u2014 while others had said we might not see the sector <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/093c4b68-9f7e-42a5-bcaa-05f89fb4b473\">bounce back until 2024<\/a>.<\/p>\n<p><strong>Most of the revenues came in <\/strong><strong>2H2021<\/strong><strong>: <\/strong>Tourism revenues reached around USD 3.1 bn in 1H2021, according to balance of payments data \u2014 meaning that revenues in the second half of 2021 recorded at least USD 9.9 bn (surpassing the range the ministry had hoped to see for the full year.)<\/p>\n<p><strong>What about arrivals?<\/strong> While we don\u2019t have any data on arrivals for the second half of the year, around 3.5 mn tourists visited the country during 1H2021, which is around the same number who visited <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3106a1b0-6cfc-4c04-80c9-8da5fe98049e\">during all of 2020<\/a>. Some 13 mn tourists visited Egypt in 2019.<\/p>\n<p><strong>Helping drive the rebound: <\/strong>Russia <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c9855c3e-2e9d-45bc-a9d8-e1e15007d087\">lifted<\/a> its six-year ban on direct flights to Egypt\u2019s Red Sea destinations last July and resumed charter flights in November, bringing plane-loads of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/00cffa89-6746-4a96-8a5f-f95a63746dc6\">Russian tourists<\/a> to the country. In September, the United Kingdom <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8abe08a4-aa5a-4489-8dc8-2b8d41fb09bb\">took us off its travel \u201cred list,\u201d<\/a> leading to a 400% surge in Brits booking trips to Egypt and Turkey by December. Hotels got a major boost back in October, when the government began allowing them to operate at <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7ad1c2ff-9e91-4630-93e0-9b95db5765bb\">full capacity<\/a> for the first time in 18 months.<\/p>\n<p><strong>And Omicron doesn\u2019t appear to have dented recovery: <\/strong>Despite Omicron\u2019s emergence in the last couple of months of the year, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3aba3ab6-66d2-470d-937b-adec65e50651\">travel to our tourist hotspots<\/a> seemed to remain unaffected, with hotel occupancy rates estimated to have reached 70-75% across the Red Sea.<\/p>\n<p><strong>We\u2019re poised to hit another record this year,<\/strong> according to remarks attributed to Shalaby suggesting that the opening of the Grand Egyptian Museum, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/91b9c7da-39f4-4422-adb6-3d20f5a2e1a5\">slated for 2H2022<\/a> and the completion of the <a href=\"https:\/\/enterprise.press\/stories\/2018\/04\/29\/egypt-to-complete-usd-15-6-bn-sinai-development-by-2022-says-mahlab\/\">EGP 275 bn Sinai Development plan<\/a>. The inauguration of new tourist destinations such as <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fdb65d9f-7a06-4113-80b3-15dcdd925a3f\">El Galala<\/a> and new hotels in El Alamein will also drive growth in the sector.<\/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\/ghada-shalaby\/\">Ghada Shalaby<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/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=\"542937\" 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=\"542937\">\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\">FOOD SECURITY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/were-spending-a-whole-lot-more-on-wheat-and-events-in-ukraine-could-bump-up-spending-even-more\/\">\r\n                            We\u2019re spending a whole lot more on wheat \u2014 and events in Ukraine could bump up spending even more                        <\/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\/25\/were-spending-a-whole-lot-more-on-wheat-and-events-in-ukraine-could-bump-up-spending-even-more\/\" 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\/25\/were-spending-a-whole-lot-more-on-wheat-and-events-in-ukraine-could-bump-up-spending-even-more\/')\">\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\/25\/were-spending-a-whole-lot-more-on-wheat-and-events-in-ukraine-could-bump-up-spending-even-more\/\">\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=We\u2019re spending a whole lot more on wheat \u2014 and events in Ukraine could bump up spending even more&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/were-spending-a-whole-lot-more-on-wheat-and-events-in-ukraine-could-bump-up-spending-even-more\/\">\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\/25\/were-spending-a-whole-lot-more-on-wheat-and-events-in-ukraine-could-bump-up-spending-even-more\/&title=We\u2019re spending a whole lot more on wheat \u2014 and events in Ukraine could bump up spending even more\">\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=We%E2%80%99re+spending+a+whole+lot+more+on+wheat+%E2%80%94+and+events+in+Ukraine+could+bump+up+spending+even+more+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F25%2Fwere-spending-a-whole-lot-more-on-wheat-and-events-in-ukraine-could-bump-up-spending-even-more%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\/25\/were-spending-a-whole-lot-more-on-wheat-and-events-in-ukraine-could-bump-up-spending-even-more\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542937\" class=\"content-area-description single-story post-542937 post type-post status-publish format-standard hentry category-food-security tag-commodities tag-enterpriseam tag-finance-minister-mohamed-maait tag-food-security tag-gasc tag-russia tag-state-budget tag-subsidies tag-ukraine tag-wheat 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>Spiraling wheat prices land us with an EGP 12 bn check:<\/strong> The rise in global wheat prices will cost us an additional EGP 12 bn this fiscal year, Finance Minister Mohamed Maait yesterday told <a href=\"https:\/\/www.asharqbusiness.com\/article\/31792\">Bloomberg Asharq<\/a>. State grain buyer GASC had been allocated some EGP 87 bn in this fiscal year\u2019s state budget, according to <a href=\"https:\/\/ent.news\/2022\/1\/Section-4-Fiscal-Sector4.pdf\">official figures (pdf)<\/a>.<\/p>\n<p><strong>Commodities crunch hits home:<\/strong> As the world\u2019s biggest importer of wheat, we\u2019re significantly exposed to price hikes that saw the grain trade in 2021 at its highest levels in more than a decade amid the global commodities squeeze, with Egyptian tenders delivering the highest prices in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/15d45665-349c-485e-b1cb-1fc861ae8204\">at least five years<\/a>.<\/p>\n<p><strong>Making matters worse: the threat of war in Ukraine. <\/strong>Conflict in the Donbas could have an impact on Egypt and other wheat dependent countries in MENA, food analyst Alex Smith writes in <a href=\"https:\/\/foreignpolicy.com\/2022\/01\/22\/russia-ukraine-war-grain-exports-africa-asia\/\">Foreign Policy<\/a>. Egypt is the largest consumer of Ukrainian wheat, last year purchasing the equivalent of around 14% of its total wheat consumption from the eastern European country. Most Ukrainian wheat is grown in the east of the country, which also happens to be the area most likely to be hit by conflict, setting the stage for huge falls in production and supply shortfalls internationally should tensions spill over.<\/p>\n<p><strong>Wait, it gets better: <\/strong>We\u2019re also bracing for the possibility of pricier wheat as Russia mulls <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5dd013dd-9edc-45ef-8356-3bd39e44c03f\">higher export tariffs<\/a> on the grain.<\/p>\n<p><strong>Bread prices could rise for the first time in decades:<\/strong> The reality of price pressure was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cff5080b-b5e6-4d57-8920-c15466348892\">spelled out last summer<\/a> when President Abdel Fattah El Sisi signaled that the government could move to hike bread prices. Six months later and the Supply Ministry is now working <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/217bd2c8-c468-4975-b723-ba0e372c9b2c\">on several scenarios<\/a> that would see the government taper bread subsidies and limit the impact of rising international prices on the state budget. History suggests the state will move carefully on bread prices after a hike in the late 1970s provoked <a href=\"https:\/\/www.cbsnews.com\/news\/egyptians-riot-in-the-streets-in-1977\/\">a furious response<\/a>.<\/p>\n<p><strong>Hedging an option:<\/strong> The Finance Ministry was also <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/445b5f6e-59f5-429f-95ab-e917db910118\">mulling hedging<\/a> against rising grain prices last year, but has not announced whether it has entered into any contracts.<\/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\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-minister-mohamed-maait\/\">Finance Minister Mohamed Maait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food-security\/\">food security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gasc\/\">GASC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-budget\/\">state budget<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/subsidies\/\">subsidies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ukraine\/\">Ukraine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/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=\"542938\" 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=\"542938\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/budget-deficit-widens-to-3-9-in-1h2021-22\/\">\r\n                            Budget deficit widens to 3.9% in 1H2021-22                        <\/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\/25\/budget-deficit-widens-to-3-9-in-1h2021-22\/\" 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 figures continue a trend seen in the first quarter of the fiscal year, when the deficit widened y-o-y <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/db3e7873-e17d-4691-b57e-b53c6a4734e7\">from 2.7% to 3.1%<\/a> for the July-October 2021 period.<\/p>\n<p><strong>The budget deficit is expected to stand at 6.9% by the end of FY2021-2022<\/strong>, after the ministry last week <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e7917560-43b4-4dd1-984a-209a64b16608\">revised upwards its prior forecast<\/a> of 6.7% on the basis of first-half data. The deficit narrowed to 7.4% last fiscal year from 8.0% the year prior, and is expected to narrow again to 6.1% in FY2022-2023.<\/p>\n<p><strong>Primary surplus expectations narrow: <\/strong>FinMin is now expecting the primary surplus to hit 1.1-1.2% in the current fiscal year from 0.9% a year prior, Maait said, down from the 1.5% it had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f10ef3d-eec0-4f11-a112-c1dee1ee9780\">penciled in last year.<\/a> Egypt generated a EGP 3.2 bn primary surplus in 1H2021-2022, the ministry announced last week. That\u2019s down 77% on the same period last fiscal year, but nevertheless an improvement from the slight primary deficit registered in the first quarter.<\/p>\n<p><strong>No details on debt:<\/strong> Maait didn\u2019t disclose how much the government spent on servicing its debts, which is the single-biggest cost to the public purse. Official figures show that interest payments alone accounted for 41% of all expenditure during 1Q2021-2022. The ministry expects to spend EGP 579.6 bn on interest during the course of the year, amounting to almost a third of total expenditure.<\/p>\n<hr class=\"grey-line\">\n<p><strong>MEANWHILE- Samurai bonds coming in H12022: <\/strong>Egypt aims to sell around USD 500 mn of JPY-denominated bonds in Japan by the end of June, when the current fiscal year wraps, Maait also said. \u201cThe bond issuance will be in JPY, but the transfer currency can be in JPY or USD,\u201d Maait said, adding that the ministry is currently discussing the issuance with the central bank.<\/p>\n<p><strong>Background:<\/strong> Maait and Japan\u2019s ambassador in Cairo <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7efdd707-7dc3-45f2-bfe5-e9990f7b5f92\">discussed last week<\/a> taking the potential bond issuance to market in Japan, as part of Egypt\u2019s debt diversification strategy. The government had been mulling selling JPY-denominated bonds back in <a href=\"https:\/\/enterprise.press\/stories\/2019\/01\/14\/finmin-heads-east-ahead-of-egypts-bond-issuances\/\">2019<\/a>, as well as RMB-denominated Panda bonds, but Maait said in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3c4b588c-29a4-4507-975f-ab354ac4cbf5\">late 2020<\/a> that the planned sales were being pushed until at least FY2021-2022 because of complications caused by the pandemic. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e9609fe5-7ebc-42ee-864a-41463c932a27\">Marketing foreign bonds in Asian markets is a different ball game<\/a> and also requires new ratings assessments by Asian agencies, a senior government official told us in 2020.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/judiciary\/\">judiciary<\/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\/state-budget\/\">state budget<\/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=\"542940\" 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=\"542940\">\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\">Green economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/ebrd-writes-usd-100-mn-check-for-scatecs-green-bond\/\">\r\n                            EBRD writes USD 100 mn check for Scatec\u2019s green bond                        <\/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\/25\/ebrd-writes-usd-100-mn-check-for-scatecs-green-bond\/\" 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 lender will contribute USD 100 mn to the USD 340 mn issuance, in addition to providing a USD 30 mn standby liquidity facility for other investors participating in the sale.<\/p>\n<p><strong>Another first:<\/strong> This will be the first-ever renewable energy, corporate green bond issuance in Egypt. CIB issued the country\u2019s first private sector green bond last year with a <a href=\"https:\/\/pressroom.ifc.org\/all\/pages\/PressDetail.aspx?ID=26548\">USD 100 mn issuance<\/a> supported by the International Finance Corporation, the proceeds of which were earmarked to finance <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ea5e3510-53bf-4f7b-b5ed-f3ae5b19eb31\">green buildings<\/a>.<\/p>\n<p><strong>The proceeds will be used for \u201cfurther <\/strong><strong>renewable energy development,\u201d<\/strong> the bank said, without providing further information. Scatec\u2019s Benban plants were completed and <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/17\/egypt-to-inaugurate-benban-solar-park-in-november\/\">connected to the national grid<\/a> back in 2019.<\/p>\n<p><strong>The project:<\/strong> Scatec is the majority owner of <a href=\"https:\/\/scatec.com\/2019\/10\/16\/scatec-solar-completes-the-390-mw-benban-project-in-egypt\/\">six solar plants<\/a> in Benban, producing a combined 380 MW of electricity. The plants are 51% owned by the Norwegian renewables producer, 25% by African infrastructure investment bank Africa 50, and 24% by Norwegian development finance institution Norfund. Scatec has a 25-year power purchase agreement with the Egyptian Electricity Transmission Company for the projects, which were <a href=\"https:\/\/scatec.com\/locations\/egypt\/#benban-egypt\">partially financed<\/a> by EBRD loans. The project\u2019s other lenders are Dutch development bank FMO, Islamic Development Bank, Islamic Corporation for the Development of the Private Sector, and the Green Climate Fund.<\/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\/benban-solar-park\/\">Benban solar park<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate\/\">Climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ebrd\/\">EBRD<\/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\/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\/japan\/\">Japan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/judiciary\/\">judiciary<\/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\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/scatec\/\">Scatec<\/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=\"542942\" 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=\"542942\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/dsquares-is-not-looking-to-launch-a-spac\/\">\r\n                            Dsquares is not looking to launch a SPAC                        <\/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\/25\/dsquares-is-not-looking-to-launch-a-spac\/\" 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\/25\/dsquares-is-not-looking-to-launch-a-spac\/')\">\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\/25\/dsquares-is-not-looking-to-launch-a-spac\/\">\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=Dsquares is not looking to launch a SPAC&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/dsquares-is-not-looking-to-launch-a-spac\/\">\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\/25\/dsquares-is-not-looking-to-launch-a-spac\/&title=Dsquares is not looking to launch a SPAC\">\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=Dsquares+is+not+looking+to+launch+a+SPAC+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F25%2Fdsquares-is-not-looking-to-launch-a-spac%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\/25\/dsquares-is-not-looking-to-launch-a-spac\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542942\" class=\"content-area-description single-story post-542942 post type-post status-publish format-standard hentry category-startup-watch tag-dsquares tag-enterpriseam tag-spacs tag-startup-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>FACT CHECK- Loyalty services provider <\/strong><strong>Dsquares is not looking to create a<\/strong><strong> SPAC<\/strong>, founder and CEO Marwan Kenawy tells us, denying a report from Al Shorouk <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8c3258c6-660f-4640-a6e9-b6a1ac605fd0\">we picked up<\/a> yesterday.<\/p>\n<p><strong>Though cross-border acquisitions could be in the cards:<\/strong> \u201cWe are looking at possible acquisitions in other countries, but a SPAC or IPO is not in the plan at this point,\u201d Kenawy says.<\/p>\n<p><strong>Dsquares is focused on scaling at a global level and launching new products.<\/strong> \u201cWe are expanding in the Middle East, Africa and Europe,\u201d Kenawy told us. The company is already present in Egypt, Jordan, UAE, KSA, Romania, Kenya, and Tanzania, and is working with multinational companies including Vodafone and MasterCard.<\/p>\n<p><strong>The company is currently working on an Egypt-wide citizen engagement <\/strong>project with <a href=\"https:\/\/www.prime-bc.com\/index.html\">Prime Business Consulting<\/a> to provide citizens with loyalty incentives for using the government\u2019s online and offline products. This includes, for example, encouraging people to renew their driver\u2019s license online or pay their electricity bills on time. The project is part of the government\u2019s digital transformation mandate and the first phase should launch by mid-2022.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dsquares\/\">Dsquares<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/spacs\/\">SPACs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"542943\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"542943\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/542943\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542943\" class=\"content-area-description single-story post-542943 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/whatsnext.enterprise.press\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/New-Banners-English-v2_1600-text-1.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"542944\" 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=\"542944\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Banking<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/cbe-confirms-standard-chartered-en-route-to-egypt\/\">\r\n                            CBE confirms Standard Chartered en route to Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/cbe-confirms-standard-chartered-en-route-to-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/cbe-confirms-standard-chartered-en-route-to-egypt\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/cbe-confirms-standard-chartered-en-route-to-egypt\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=CBE confirms Standard Chartered en route to Egypt&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/cbe-confirms-standard-chartered-en-route-to-egypt\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/cbe-confirms-standard-chartered-en-route-to-egypt\/&title=CBE confirms Standard Chartered en route to Egypt\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=CBE+confirms+Standard+Chartered+en+route+to+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F25%2Fcbe-confirms-standard-chartered-en-route-to-egypt%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/cbe-confirms-standard-chartered-en-route-to-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542944\" class=\"content-area-description single-story post-542944 post type-post status-publish format-standard hentry category-banking tag-banking tag-central-bank-of-egypt tag-enterpriseam tag-standard-chartered tag-uk wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Standard Chartered gets preliminary thumbs up from CBE to enter Egypt:<\/strong> The Central Bank of Egypt (CBE) has given preliminary approval for Standard Chartered to enter the Egyptian banking sector, CBE deputy governor Gamal Negm told <a href=\"https:\/\/bit.ly\/3qYxRNK\">state-owned Middle East News Agency<\/a> yesterday, confirming news <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fe27a14c-fd7d-4097-ba5e-f1cf45de4b1a\">initially reported<\/a> by talk show host Lamees El Hadidi on Sunday night. The British bank will open its first local branch by September at the latest and plans to establish a second branch in Alexandria in 2023, Negm said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/standard-chartered\/\">Standard Chartered<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uk\/\">UK<\/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=\"542945\" 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=\"542945\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/govt-targets-usd-7-bn-oil-fdi-in-2022-2023\/\">\r\n                            Gov\u2019t targets USD 7 bn oil FDI in 2022-2023                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/govt-targets-usd-7-bn-oil-fdi-in-2022-2023\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/govt-targets-usd-7-bn-oil-fdi-in-2022-2023\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/govt-targets-usd-7-bn-oil-fdi-in-2022-2023\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Gov\u2019t targets USD 7 bn oil FDI in 2022-2023&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/govt-targets-usd-7-bn-oil-fdi-in-2022-2023\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/govt-targets-usd-7-bn-oil-fdi-in-2022-2023\/&title=Gov\u2019t targets USD 7 bn oil FDI in 2022-2023\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Gov%E2%80%99t+targets+USD+7+bn+oil+FDI+in+2022-2023+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F25%2Fgovt-targets-usd-7-bn-oil-fdi-in-2022-2023%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/govt-targets-usd-7-bn-oil-fdi-in-2022-2023\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/325.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"542946\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/govt-targets-usd-7-bn-oil-fdi-in-2022-2023\/325-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/325.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"325.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/325.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/325.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542945\" class=\"content-area-description single-story post-542945 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-energy tag-enterpriseam tag-fdi tag-investment-watch tag-oil-and-gas 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><strong>The Oil Ministry wants to attract USD 7 bn of foreign direct investment<\/strong> (FDI) into the oil and gas sector in FY 2022-2023, <a href=\"https:\/\/www.google.com\/url?q=https:\/\/www.reuters.com\/article\/idUSL1N2U41UC&sa=D&source=docs&ust=1643067672456693&usg=AOvVaw0NYKgvCOx9ijEjGsSoRQX7\">Reuters<\/a> reported Oil Minister Tarek El Molla as telling Sky News Arabia TV yesterday.<\/p>\n<p><strong>Oil + gas accounts for almost half of Egypt\u2019s FDI:<\/strong> At least, it did in FY2019-2020, which is the most recent data the government has made available. Figures published in the central bank\u2019s<a href=\"https:\/\/ent.news\/2022\/1\/Annual-Report-2019-2020.pdf\">annual report (pdf)<\/a> showed that USD 7.3 bn of the USD 15.8 bn of inflows went to hydrocarbons. Finance was the second-largest recipient, attracting USD 2.2 bn.<\/p>\n<p><strong>The sector has seen several high-profile investments in recent weeks:<\/strong><\/p>\n<ul>\n<li><strong>Apache<\/strong> and <strong>Sinopec<\/strong> signed a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/510ef9d0-a0b6-4280-91f0-19eb6d557bca\">USD 3.5 bn production agreement<\/a> in late 2021.<\/li>\n<li>Canadian firm <strong>Transglobe<\/strong> and London-based <strong>Pharos Energy<\/strong> this year signed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7395b7af-9ef2-41d2-a01b-dd5fda097b17\">E&P agreements worth USD 506 mn<\/a>. <\/li>\n<li><strong>Seven international energy companies<\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c5f11f01-49af-4e27-a91e-3410f499133d\">were awarded<\/a><\/strong><strong> exploration blocks<\/strong> in the government\u2019s bid round held last year and will invest a combined minimum of USD 250 mn in the initial exploration phase.<\/li>\n<li><strong>Qatar Energy <\/strong>agreed in December to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/21557235-81fb-4649-afcd-e813ed5dd7d8\">acquire Shell\u2019s 17% stake<\/a> in two Red Sea exploration blocks.<\/li>\n<\/ul>\n<p><strong>Splurge on state-owned oil companies:<\/strong> The FDI target coincides with government plans to spend <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/62618f3e-4d85-473e-8617-a45161708d21\">EGP 30 bn<\/a> on developing public sector oil companies, which is reportedly the largest amount of money ever allocated to the state oil sector.<\/p>\n<p><strong>FDI has been heading in the wrong direction in recent years:<\/strong> Inflows fell 12% to USD 13.9 bn in FY2020-2021 from USD 15.8 bn the year before, and were down 15% from FY2018-2019. This has squeezed net FDI, which last year fell to USD 5.2 bn \u2014 its lowest level since the FY 2013-2014.<\/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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fdi\/\">FDI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/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=\"542947\" 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=\"542947\">\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\/25\/egyptian-drug-authority-approves-merck-antiviral-pill\/\">\r\n                            Egyptian Drug Authority approves Merck antiviral pill                        <\/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\/25\/egyptian-drug-authority-approves-merck-antiviral-pill\/\" 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\/25\/egyptian-drug-authority-approves-merck-antiviral-pill\/')\">\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\/25\/egyptian-drug-authority-approves-merck-antiviral-pill\/\">\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=Egyptian Drug Authority approves Merck antiviral pill&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/egyptian-drug-authority-approves-merck-antiviral-pill\/\">\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\/25\/egyptian-drug-authority-approves-merck-antiviral-pill\/&title=Egyptian Drug Authority approves Merck antiviral pill\">\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=Egyptian+Drug+Authority+approves+Merck+antiviral+pill+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F25%2Fegyptian-drug-authority-approves-merck-antiviral-pill%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\/25\/egyptian-drug-authority-approves-merck-antiviral-pill\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542947\" class=\"content-area-description single-story post-542947 post type-post status-publish format-standard hentry category-covid-watch tag-covid-19 tag-egyptian-drug-authority tag-enterpriseam tag-eva-pharma tag-healthcare tag-hikma-pharma tag-merck tag-pharma tag-regulation wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-06\" class=\"content-anchor\"><\/a> <strong>The <\/strong><strong>Egyptian Drug Authority<\/strong><strong> (EDA) has approved Merck\u2019s antiviral covid-19 pill <\/strong><strong>Molnupiravir for emergency use<\/strong>, making Egypt the first country in the Middle East and Africa to do so, the agency <a href=\"https:\/\/www.facebook.com\/egyptiandrugauthority\/posts\/286051313629905?__cft__[0]=AZWBG_nwFN8qNkWvrZP2wnHtJQYrM6BjE3WzUWloYrXej0aVTTijy0ca6DAiMtI4egPLhAZpa5_DPqUPuzJjz00BHt3GrP5PoAfDfwN5KgVUo7xS7XfHnIUxc9LRvK-lRN_kg4hSrzHIotznVz7Lc433grvp5cbnfVweGkYx8ufa9w&__tn__=%2CO%2CP-R\">announced<\/a> yesterday.<\/p>\n<p><strong>Five local companies to manufacture Egypt-made Molnupiravir:<\/strong> Five companies have been licensed to produce the pill in Egypt, while several other companies could be given licenses at a later stage, the EDA said. Local firms have already produced around 25k packets of the drug, and have the materials at hand to manufacture 150k more, according to a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/323828843120876\">Health Ministry statement<\/a>.<\/p>\n<p><strong>Rameda is the first confirmed manufacturer:<\/strong> Rameda Pharma has already received EDA approval and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/620167ed-b229-47d5-a786-e55443ab32dd\">begun manufacturing<\/a> its generic version of the med, Molnupiravir Rameda, which is set to be distributed to hospitals before the end of 1Q2022. Molnupiravir Rameda will retail at EGP 625 per 40 capsules with an initial dose of 200 mg.<\/p>\n<p><strong>Eva Pharma is also on board<\/strong>, according to <a href=\"https:\/\/bit.ly\/3qX8ITr\">Sky News Arabia<\/a>, which carries an interview with company director George Maher, who says that the meds will be exported to Arab and African countries, as well as made available for domestic use.<\/p>\n<p><strong>Hikma Pharma is also in the mix:<\/strong> London-listed Hikma Pharma was among 27 companies globally to sign an agreement with the UN-backed Medicines Patent Pool last week, which is designed to promote access to the medication among 105 developing countries, the <a href=\"https:\/\/medicinespatentpool.org\/news-publications-post\/27-generic-manufacturers-sign-agreements-with-mpp-to-produce-molnupiravir\">MPP said<\/a>. The agreement allows the company to produce the finished pills via its Egyptian and Jordanian units<\/p>\n<p><strong>How is this being done?<\/strong> The MPP signed a licensing agreement with Merck allowing it to ink sublicense agreements with other companies, which in turn are permitted to produce the raw materials and the finished product.<\/p>\n<p><strong>Molnupiravir is arriving just in time for the news that covid could bypass antiviral meds: <\/strong>Researchers and US health regulators are bracing themselves for signs of resistance and mutation from covid-19 that could allow it to bypass antiviral pills like molnupiravir and Pfizer\u2019s Paxlovid, the <a href=\"https:\/\/www.wsj.com\/articles\/as-covid-19-pills-roll-out-worry-mounts-that-resistance-could-develop-11642847405?mod=hp_lead_pos6\">Wall Street Journal<\/a> reports.<\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/255693290075226?__cft__[0]=AZUx8FBrl-ubRkgf3c_Jr0TvlZ6pq6NrKI7pG736BcxBtc4VS1IzG--ZdBFlDaeNVSVkLeZeLiIrTAaX7poawHFNlIVDFqTzvUYkx0ewml3VZYOTjRPeALz2wy1Uc_QwFhWiBiu3GmxDUpcM2JcmRUqJvDksMOGMPKbDwxVw8lplRQ&__tn__=%2CO%2CP-R\">reported<\/a><\/strong><strong> 1,651 new covid-19 infections yesterday<\/strong>, up from 1,603 the day before \u2014 the fourth-highest daily tally on record, as the omicron variant sees case numbers pushed to highs not seen since June 2020. Egypt has now disclosed a total of 411,749 confirmed cases of covid-19. The ministry also reported 28 new deaths, bringing the country\u2019s total death toll to 22,396.<\/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\/egyptian-drug-authority\/\">Egyptian Drug Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eva-pharma\/\">Eva Pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hikma-pharma\/\">Hikma Pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/merck\/\">Merck<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharma\/\">pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/regulation\/\">regulation<\/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=\"542948\" 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=\"542948\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/oil-ministry-appoints-new-egpc-chairman\/\">\r\n                            Oil Ministry appoints new EGPC chairman                        <\/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\/25\/oil-ministry-appoints-new-egpc-chairman\/\" 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\/25\/oil-ministry-appoints-new-egpc-chairman\/')\">\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\/25\/oil-ministry-appoints-new-egpc-chairman\/\">\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=Oil Ministry appoints new EGPC chairman&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/oil-ministry-appoints-new-egpc-chairman\/\">\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\/25\/oil-ministry-appoints-new-egpc-chairman\/&title=Oil Ministry appoints new EGPC chairman\">\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=Oil+Ministry+appoints+new+EGPC+chairman+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F25%2Foil-ministry-appoints-new-egpc-chairman%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\/25\/oil-ministry-appoints-new-egpc-chairman\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542948\" class=\"content-area-description single-story post-542948 post type-post status-publish format-standard hentry category-moves tag-egyptian-general-petroleum-corporation tag-enterpriseam tag-moves tag-oil-ministry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Oil Minister Tarek El Molla<\/strong> has appointed <strong>Alaa Al Batal<\/strong> as <strong>chairman <\/strong>of the <strong>Egyptian <\/strong><strong>General Petroleum Corporation (EGPC)<\/strong>, effective tomorrow, the ministry said in a <a href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/239209051727407\">statement<\/a>. Al Batal, who was previously the chairman of Ganoub El Wadi Petroleum Holding Company (Ganope), replaces Abed Ezz El Regal, who is retiring.<\/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\/egyptian-general-petroleum-corporation\/\">Egyptian General Petroleum Corporation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-ministry\/\">Oil Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"542949\" 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=\"542949\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/542949\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542949\" class=\"content-area-description single-story post-542949 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\/2022\/1\/Villette-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"542950\" 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=\"542950\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/last-nights-talk-shows-merck-covid-pill-approved-for-use-in-egypt-el-sisi-holds-talks-with-algerian-prez\/\">\r\n                            Last Night\u2019s Talk Shows: Merck covid pill approved for use in Egypt + El Sisi holds talks with Algerian prez                        <\/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\/25\/last-nights-talk-shows-merck-covid-pill-approved-for-use-in-egypt-el-sisi-holds-talks-with-algerian-prez\/\" 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\/25\/last-nights-talk-shows-merck-covid-pill-approved-for-use-in-egypt-el-sisi-holds-talks-with-algerian-prez\/')\">\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\/25\/last-nights-talk-shows-merck-covid-pill-approved-for-use-in-egypt-el-sisi-holds-talks-with-algerian-prez\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Last Night\u2019s Talk Shows: Merck covid pill approved for use in Egypt + El Sisi holds talks with Algerian prez&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/last-nights-talk-shows-merck-covid-pill-approved-for-use-in-egypt-el-sisi-holds-talks-with-algerian-prez\/\">\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\/25\/last-nights-talk-shows-merck-covid-pill-approved-for-use-in-egypt-el-sisi-holds-talks-with-algerian-prez\/&title=Last Night\u2019s Talk Shows: Merck covid pill approved for use in Egypt + El Sisi holds talks with Algerian prez\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Last+Night%E2%80%99s+Talk+Shows%3A+Merck+covid+pill+approved+for+use+in+Egypt+%2B+El+Sisi+holds+talks+with+Algerian+prez+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F25%2Flast-nights-talk-shows-merck-covid-pill-approved-for-use-in-egypt-el-sisi-holds-talks-with-algerian-prez%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\/25\/last-nights-talk-shows-merck-covid-pill-approved-for-use-in-egypt-el-sisi-holds-talks-with-algerian-prez\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542950\" class=\"content-area-description single-story post-542950 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-abdel-fattah-el-sisi tag-abdelmadjid-tebboune tag-algeria tag-covid-19 tag-diplomacy tag-egyptian-drug-authority tag-enterpriseam tag-healthcare tag-last-nights-talk-shows tag-merck tag-pharma tag-politics tag-regulation wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Our meds regulator\u2019s decision to approve Merck\u2019s antiviral covid-19 pill <\/strong><strong>Molnupiravir for emergency use was the talk of the talk shows last night.<\/strong> Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=x3CzomeV9Sw\">watch, runtime: 9:48<\/a>), Hadeeth El Kahera (<a href=\"https:\/\/www.youtube.com\/watch?v=jepKX6XL27E\">watch, runtime: 10:05<\/a>) and Kelma Akhira (<a href=\"https:\/\/www.youtube.com\/watch?v=un6HgdgpeHo\">watch, runtime: 8:56<\/a>) all had coverage. We have the full story in this morning\u2019s news well, above.<\/p>\n<p><strong>Egypt-Algeria talks:<\/strong> President Abdel Fattah El Sisi\u2019s forthcoming talks with Algerian President Abdelmadjid Tebboune in Cairo earned significant coverage on the airwaves. The two are expected to discuss regional issues including Libya and Palestine when they meet today. Kelma Akhira (<a href=\"https:\/\/www.youtube.com\/watch?v=tDdA2Qs5SvY\">watch, runtime: 8:46<\/a>), Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=hXmJneG_I-M\">watch, runtime: 8:29<\/a>) and Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=17FfmCGb3qQ\">watch, runtime: 12:03<\/a>) all covered the talks.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdelmadjid-tebboune\/\">Abdelmadjid Tebboune<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/algeria\/\">Algeria<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-drug-authority\/\">Egyptian Drug Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthcare\/\">healthcare<\/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\/merck\/\">Merck<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharma\/\">pharma<\/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\/regulation\/\">regulation<\/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=\"542951\" 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 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class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/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\/25\/egypt-in-the-news-the-mansourasaurus-is-back\/\">\r\n                            Egypt in the News: The Mansourasaurus is back                        <\/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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<\/a>\r\n\r\n                \n<article id=\"post-542952\" class=\"content-area-description single-story post-542952 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-enterpriseam tag-history tag-human-rights wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It\u2019s another quiet morning in the foreign press:<\/strong> <a href=\"https:\/\/www.nature.com\/articles\/d41586-022-00164-w\">Nature<\/a> is the latest to take note of the \u201cMansourasaurus,\u201d a prehistoric whale <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/787267bf-09cc-456a-bdf5-7811f93b6694\">discovered in the Fayoum Depression last summer<\/a> by by <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b3a9ea83-2c6c-4f2f-89f5-969b73a83d4f\">a team<\/a> of paleontologists from Mansoura University.<\/p>\n<p><strong><a href=\"https:\/\/twitter.com\/Reuters\/status\/1485703957011857408\">Reuters<\/a><\/strong><strong> is out with a short video about a designer who has QR coded a \u201csmart dress\u201d<\/strong> and <a href=\"https:\/\/www.theguardian.com\/global-development\/2022\/jan\/24\/cairo-egypt-police-station-secret-filming-appears-to-show-torture\">the Guardian<\/a> says it has obtained video footage allegedly showing detainees being mistreated in a Cairo police station.<\/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\/history\/\">History<\/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=\"542953\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"542954\" 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=\"542954\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/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\/25\/fawry-looks-to-partner-with-local-bank-on-prepaid-cards\/\">\r\n                            Fawry looks to partner with local bank on prepaid cards                        <\/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\/25\/fawry-looks-to-partner-with-local-bank-on-prepaid-cards\/\" 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\/25\/fawry-looks-to-partner-with-local-bank-on-prepaid-cards\/')\">\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\/25\/fawry-looks-to-partner-with-local-bank-on-prepaid-cards\/\">\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=Fawry looks to partner with local bank on prepaid cards&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/fawry-looks-to-partner-with-local-bank-on-prepaid-cards\/\">\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\/25\/fawry-looks-to-partner-with-local-bank-on-prepaid-cards\/&title=Fawry looks to partner with local bank on prepaid cards\">\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=Fawry+looks+to+partner+with+local+bank+on+prepaid+cards+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F25%2Ffawry-looks-to-partner-with-local-bank-on-prepaid-cards%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\/25\/fawry-looks-to-partner-with-local-bank-on-prepaid-cards\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542954\" class=\"content-area-description single-story post-542954 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-banque-misr tag-e-commerce tag-enterpriseam tag-fawry tag-fintech tag-hyundai-rotem tag-neric tag-noon tag-samsung tag-zoomcar wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Fawry <\/strong><strong>is looking to partner with a local bank to issue<\/strong><strong> prepaid cards soon, <\/strong>Al Mal reports CEO and founder Ashraf Sabry as saying. Sabry\u2019s comments came on the sidelines of the company\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f46074c4-e6d1-4dcb-83e1-b76e834652ca\">launch of Fawry Yawmy<\/a>, the region\u2019s first fintech-based money market fund, in partnership with Misr Capital. Fawry earlier this week said it is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b39b1b1b-5efa-4e74-a05e-e910d41454a2\">eyeing a US listing<\/a>, and the company is also looking to raise its capital by EGP 800 mn through a rights issue to existing shareholders. The capital increase will help fund pre-paid card plans as part of a strategy to turn the MyFawry app into a super app, Sabry said on an investor update call last week.<\/p>\n<p><strong>Wataniya Petroleum could debut on the EGX this year<\/strong>, according to Ayman Soliman, head of the Sovereign Fund of Egypt, which is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/14b94986-d461-4f36-ab26-cf9227098f74\">currently restructuring<\/a> the military-owned company, according to <a href=\"https:\/\/bit.ly\/3H0Wej8\">Al Arabiya<\/a>.<\/p>\n<p><strong>We\u2019ll find out \u201csoon\u201d which mining companies have been awarded gold <\/strong><strong>exploration rights<\/strong> in the latest government tender. Oil Minister Tarek El Molla says that four companies have been handed concessions, <a href=\"https:\/\/bit.ly\/3AvhRWp\">Al Arabiya<\/a> reports.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>The National Egyptian Railway Industries Company<\/strong> has reached the final stages of negotiations with <strong>Hyundai Rotem<\/strong> to sign a contract to manufacture, assemble and supply 40 <strong>subway trains<\/strong> for the National Authority for Tunnels.<\/li>\n<li>Online marketplace <strong>Noon <\/strong>has <a href=\"https:\/\/ent.news\/2022\/1\/EN_PRL_Egypt_noon_payments_launch_2022.pdf\">launched (pdf)<\/a> its <strong>payment platform for SMEs<\/strong>, <a href=\"https:\/\/www.noonpayments.com\/\">Noon Payments<\/a>, in Egypt.<\/li>\n<li><strong>Banque Misr<\/strong> will provide car rental firm <strong>Zoomcar Egypt <\/strong>with <a href=\"https:\/\/ent.news\/2022\/1\/Zoomcar_Banque-Misr-Cooperation-Protocol-.pdf\">online and<\/a><a href=\"https:\/\/ent.news\/2022\/1\/Zoomcar_Banque-Misr-Cooperation-Protocol-.pdf\">mobile payment services (pdf)<\/a> for its customers.<\/li>\n<li><strong>Samsung <\/strong>will <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/323563813147379\">start trial operations<\/a> at its <strong>EGP 500 mn Beni Suef tablet <\/strong><strong>factory <\/strong>in March, with an eye to kick off production in May.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-misr\/\">Banque Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/fawry\/\">Fawry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hyundai-rotem\/\">Hyundai Rotem<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/neric\/\">NERIC<\/a>\n                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id=\"542955\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/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\/25\/abu-dhabi-issues-spac-regs-as-it-eyes-gulfs-first-blank-check-listing\/\">\r\n                            Abu Dhabi issues SPAC regs as it eyes Gulf\u2019s first blank-check listing                        <\/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          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href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/abu-dhabi-issues-spac-regs-as-it-eyes-gulfs-first-blank-check-listing\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542955\" class=\"content-area-description single-story post-542955 post type-post status-publish format-standard hentry category-planet-finance tag-adx tag-debt tag-enterpriseam tag-financial-markets tag-ipo-watch tag-national-debt-management-center tag-planet-finance tag-rain-management tag-saudi-arabia tag-spacs tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-10\"><\/a> <strong>The ADX is one step closer to welcoming the GCC\u2019s first SPAC: <\/strong>The UAE\u2019s securities regulator has approved the Gulf\u2019s first regulatory framework for special purpose acquisition companies (SPACs), the <a href=\"https:\/\/www.mediaoffice.abudhabi\/en\/economy\/abu-dhabi-securities-exchange-welcomes-approval-of-region-first-spac-regulatory-framework\/\">Abu Dhabi Media Office<\/a> said yesterday. The Abu Dhabi Securities Exchange (ADX) could see its first SPAC listing this year, according to the statement. The framework allows sponsors abroad to apply for approval to list their SPACs on the ADX, with sponsors required to raise at least AED 100 mn in the IPOs, after which at least 90% of the SPAC\u2019s capital must be put in a non-interest-bearing account, in a move that is meant to protect investors.<\/p><p><strong>Bahrain-based crypto exchange platform Rain Management has received preliminary <\/strong><strong>approval on a financial services license from the ADX<\/strong>, according to <a href=\"https:\/\/ent.news\/2022\/1\/Rain-Arabic-Press-Release_-Rain-receives-IPA-from-ADGM-Jan-2022.docx.pdf\">a statement (pdf)<\/a>. Once Rain meets the criteria to get final approval for the license, it will be able to list more <a href=\"https:\/\/www.gemini.com\/cryptopedia\/what-are-cryptocurrency-pairs#:~:text=%E2%80%9CTrading%20pairs%E2%80%9D%20or%20%E2%80%9Ccryptocurrency,cash%20(ETH%2FBCH).\">digital asset trading pairs<\/a> on the ADX and expand the scope of its services in the Gulf, the statement says. Rain last week announced it had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ca79558b-a0f9-428f-b8de-0ef17dbb9552\">raised USD 110 mn<\/a> to fund cross-border expansion in a series B funding round led by Paradigm and Kleiner Perkins.<\/p><p><strong>Saudi Arabia plans to keep its debt levels stable at SAR 938 bn \u2014 around 25.9% of <\/strong><strong>GDP \u2014 in 2022<\/strong>, the kingdom\u2019s National Debt Management Center said in its annual <a href=\"https:\/\/ent.news\/2022\/1\/NDMC-KSA-2022-budget-report.pdf\">borrowing plan (pdf)<\/a>. Rising oil prices and production volumes are set to boost the crude exporter\u2019s finances, with borrowing for the year focused on SAR 43 bn in debt refinancing. The kingdom \u201cmay explore\u201d a non-USD denominated international issuance, as it looks poised to deliver its first <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/efc90926-be47-4a5a-a57f-f429f2a02e3f\">budget surplus<\/a> in eight years in 2022, amid oil-fueled economic growth.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>11,616<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: -2.8%)<\/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-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>12,068<\/p>\n<\/td>\n<td>\n<p>-0.6% (YTD: +7.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>8,701<\/p>\n<\/td>\n<td>\n<p>-0.1% (YTD: +2.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,147<\/p>\n<\/td>\n<td>\n<p>-2.0% (YTD: -1.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,410<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: -7.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,297<\/p>\n<\/td>\n<td>\n<p>-2.6% (YTD: -1.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 86.27<\/p>\n<\/td>\n<td>\n<p>-1.8%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 3.97<\/p>\n<\/td>\n<td>\n<p>-1.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,845<\/p>\n<\/td>\n<td>\n<p>+0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 36,440<\/p>\n<\/td>\n<td>\n<p>+3.7% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 fell 0.3% yesterday<\/strong> on turnover of EGP 934 mn (17.8% below the 90-day average). Regional investors were net buyers. The index is down 2.8% YTD.<\/p><p><strong>In the green: <\/strong>EFG Hermes (+1.1%), MM Group (+1.1%) and Eastern Company (+1.0%).<\/p><p><strong>In the red: <\/strong>Cleopatra Hospital (-3.8%), Speed Medical (-3.3%) and Raya Holding (-2.8%).<\/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\/adx\/\">ADX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                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               \n<article id=\"post-542956\" class=\"content-area-description post-542956 goinggreen type-goinggreen status-publish has-post-thumbnail hentry tag-bicicletta tag-enterprise-going-green tag-enterpriseam tag-transport tag-un wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>PROJECT PROFILE- Egypt\u2019s long-awaited bike-sharing scheme slated for March <\/strong><strong>launch: <\/strong>Years in the making, bike-sharing program Bicicletta could land in Cairo in March, finally bringing an alternative, environmentally-friendly means of public transport to Wust El Balad, where the streets are often gridlocked and the air quality is poor.<\/p>\n<p><strong>Cycling culture has been on the rise in Egypt: <\/strong>While the pandemic forced <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7108372e-9a45-4c6b-98ab-b8826e9ecd16\">the closure of<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7108372e-9a45-4c6b-98ab-b8826e9ecd16\">gyms and sports clubs<\/a> in 2020, the disruption may have helped to usher in a newfound interest in cycling. \"After sports centers shut down, cycling became an alternative\u201d for people, said Mohamed Helmy, marketing manager at <a href=\"http:\/\/bescletta.com\/\">Bescletta bike shop<\/a> \u2014 not to be confused with Bicicletta the project.<\/p>\n<p><strong>Enter Bicicletta:<\/strong> Having faced long delays after first being <a href=\"https:\/\/enterprise.press\/stories\/2017\/07\/26\/is-bike-sharing-coming-to-cairo\/\">introduced to us back in 2017<\/a>, the Bicicletta project is on track to launch in Cairo in March, Ahmed El Dorghamy, Basic Services and Climate Change Programme Officer at UN-Habitat \u2014 one of the project\u2019s key backers \u2014 told Enterprise. \u201cWe are in the process of finalizing the demo bike and the demo station \u2026 we expect it to be in the streets by March,\u201d he said.<\/p>\n<p><strong>The project will initially launch in what is arguably Cairo\u2019s most crowded area: Downtown. <\/strong>\u201cIt will start on a trial basis in Zamalek, Garden City and Downtown\" before expanding to other areas, El Dorghamy told us. The project currently has plans to install 45 bike-sharing stations \u2014 all of which will be solar powered \u2014 equipped with a total of 500 bikes, he said.<\/p>\n<p><strong>How it will work: <\/strong>Bicicletta users have the option to either subscribe online or sign up by visiting the project\u2019s information desk, which will be located in Tahrir Square, El Dorghamy said. An app will then direct them to the nearest Bicicletta station and using their smartphones they can unlock the bike. After they\u2019re done cycling they return the bike to the nearest station and their total will be calculated based on how long they used it.<\/p>\n<p><strong>How much will it cost?<\/strong> That remains to be seen, according to El Dorghamy, who told us that the prices are still yet to be determined. Bicicletta\u2019s services will be subsidized for the first five years after the project\u2019s implementation to ensure that the service is affordable for all, he said, without providing further information.<\/p>\n<p><strong>Who\u2019s taking part? <\/strong>The project is being implemented by the Cairo Governorate, in partnership with the UN-Habitat, Swiss nonprofit Drosos Foundation and the <a href=\"https:\/\/africa.itdp.org\/where-we-work\/egypt\/\">American Institute for Transportation and Development Policy (ITDP)<\/a>. A consortium of Egyptian and Danish firms has been chosen to operate the project.<\/p>\n<p><strong>Sources of finance:<\/strong> <a href=\"https:\/\/drosos.org\/en\/projekte\/bicicletta-a-bike-sharing-model\/\">Drosos<\/a> is providing USD 1.4 mn in financing for the project. We were unable to find out who else is contributing funds.<\/p>\n<p><strong>Cyclists vs. Egyptian streets: <\/strong>Unpaved Egyptian streets with their many bumps and potholes, as well as the volume of traffic, pose major challenges for cyclists. \u201cWe need better road quality and traffic calming measures to ensure a safer environment for cyclists,\u201d El Dorghamy told us, explaining that additions like speed bumps and zebra crossings are needed to slow traffic and reduce risk to cyclists.<\/p>\n<p><strong>A solution: Bike lanes.<\/strong> Bicycle lanes are on the way as part of the state\u2019s infrastructure drive, Khaled Siddiq, president of the Urban Development Fund, told Enterprise \u2014 a move that would help to facilitate an increase in bike riders on the streets of the capital. The government is yet to announce the specifics of the project, including where the cycle lanes will be placed, when they expect to finish them, and how much they will cost.<\/p>\n<p><strong>This isn\u2019t the first time someone\u2019s tried to make bike-sharing a thing in Egypt: <\/strong><strong><a href=\"https:\/\/www.facebook.com\/Baddelonline\/?__tn__=-UC*F\">Baddel<\/a><\/strong>, an e-bike sharing system that made its debut in 2017, had 37 stations in several locations around the country, including at SODIC West in Sheikh Zayed, AUC, Gouna and Fayoum. Enterprise was unable to reach a representative of the company for comment.<\/p>\n<p><strong>Bike-sharing could boost cycling culture:<\/strong> Helmy believes that the project could further increase interest in cycling as a means of transport. \"The project will give people the chance to experience bike-riding and will increase the number of people wanting their own personal bike,\u201d he told us.<\/p>\n<p><strong>The government seemed to be backing cycling culture in a big way a few years ago<\/strong> with its \u201c<a href=\"https:\/\/gate.ahram.org.eg\/News\/2253986.aspx\">A bike for every citizen<\/a>\u201d initiative. The Sports Ministry said in 2019 that hundreds of thousands of bikes would be distributed to members of the public, helping to lower pollution levels in urban areas and decrease traffic congestion. Some 100k bikes were handed out in the first phase of the project, and the ministry pledged to deliver a bike to all students at select universities. The government is also offering members of the public the chance to purchase bikes at discounted prices under the \u201c<a href=\"https:\/\/www.facebook.com\/emysofficial\/posts\/202344615268164\">Your Bike, Your Health<\/a>\u201d initiative.<\/p>\n<p><strong>But:<\/strong> We\u2019ve heard little about \u201cA bike for every citizen\u201d in the 2.5 years since its announcement and the current status of the program remains unclear.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top climate stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Sharm goes green:<\/strong> The Tourism Ministry <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/323527439817683\">issued a ministerial decree<\/a> obligating all resorts and hotels in Sharm El Sheikh to implement environmentally friendly measures in order to receive a \u201cgreen\u201d certificate from a local or international authority.<\/li>\n<li><strong>German development bank KfW\u2019s <\/strong><strong><a href=\"https:\/\/www.ggf.lu\/\">Green for Growth Fund<\/a><\/strong><strong> (GGF) <\/strong>now has a license from the Central Bank of Egypt <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/03a3106b-cabc-4e8c-8cbd-742d79570cd8\">to act as a \u201ctier-two\u201d lender<\/a> providing loans to Egyptian banks.<\/li>\n<li><strong>Egypt is <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/199e5d40-1615-47e9-8990-e93f1ab1a9aa\">considering issuing sustainable development bonds<\/a><\/strong> to finance the Decent Life initiative, International Cooperation Minister Rania Al Mashat <a href=\"https:\/\/www.facebook.com\/MOICEgypt\/posts\/295770349251537\">said<\/a> last week.<\/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\/bicicletta\/\">Bicicletta<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/un\/\">UN<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"542958\" 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\/25\/542958\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542958\" class=\"content-area-description single-story post-542958 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>1Q2022: Rameda Pharma will begin selling its generic version of Merck\u2019s oral antiviral covid-19 med.<\/p>\n<p>1Q2022: Pharos Energy\u2019s sale of 55% stake in El Fayum, Beni Suef concessions to IPR Energy Group subsidiary IPR Lake Qarun expected to close.<\/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: 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>1H2022: Egypt\u2019s second corporate green bond issuance expected to be announced.<\/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>9 January - 6 February (Sunday-Sunday): 2021 Africa Cup of Nations, Cameroon.<\/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>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 January (Tuesday): <a href=\"https:\/\/alex.technesummit.com\/2022\">Techne Summit<\/a> announces awardees of Corporate Innovation Program.<\/p>\n<p>25 January - 1 February (Tuesday-Tuesday): EGX <a href=\"https:\/\/alborsaanews.com\/2022\/01\/23\/1501763\">will open over the counter transactions<\/a> for the National Bank of Kuwait.<\/p>\n<p>25-26 January (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>26 January (Wednesday): <a href=\"https:\/\/ar-ar.facebook.com\/permalink.php?story_fbid=1860505667470691&id=575499779304626&__tn__=-R\">Climathon Giza 2022<\/a><\/p>\n<p>27 January-7 February (Thursday-Monday): Cairo International Book Fair, Egypt International Exhibition Center.<\/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>30 January (Sunday): <a href=\"https:\/\/pomed.org\/working-group-on-egypt-calls-on-secretary-blinken-to-reprogram-foreign-aid-withheld-from-egypt\/\">Apparent deadline<\/a> for the Egyptian government to meet human rights-related conditions to unlock USD 130 mn in frozen US aid.<\/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>Mid-February: A Hungarian delegation will arrive in Egypt for talks over a potential investment in an industrial area in the SCZone.<\/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>19-21 February (Saturday-Monday): <a href=\"https:\/\/www.facebook.com\/NebuGoldExpo\">Nebu Expo for Gold and Jewelry 2022<\/a>.<\/p>\n<p>21 February (Monday): <a href=\"https:\/\/ent.news\/2022\/1\/Speed-Medical-disclosure-17-01-2022.pdf\">Hearing at Cairo Economic Court (pdf)<\/a> on <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/107f1754-dca0-4654-92e9-fd680c3c9d71\">FRA lawsuits<\/a> filed against Speed Medical.<\/p>\n<p>26 February (Saturday): Speed Medical will elect a new board during <a href=\"https:\/\/ent.news\/2022\/1\/Speed-Medical-statement_190122.pdf\">ordinary general assembly (pdf)<\/a>.<\/p>\n<p>https:\/\/ent.news\/2022\/1\/Speed-Medical-statement_190122.pdf<\/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>March: Egypt to <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/318887153615045\">host World Tourism Organization Middle East committee meeting<\/a>.<\/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): Vodacom purchase of Vodafone Group\u2019s stake in Vodafone Egypt expected to be completed by this date.<\/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: The inauguration of the Grand Egyptian Museum.<\/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>November: Cairo Water Week 2022.<\/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>21 November-18 December (Monday-Sunday): 2022 Fifa World Cup, Qatar.<\/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>January 2023: EGX-listed companies and non-bank lenders will submit ESG reports for the first time.<\/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":542932,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-542931","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"4bf33970-a1e2-4804-89d4-19a618a6910f","teaser":"","photo_url":"https:\/\/ent.news\/2022\/1\/320.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>Tourism is back - 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\/tourism-is-back\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tourism is back\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/tourism-is-back\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T20:04:48+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\/320.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\/tourism-is-back\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/tourism-is-back\/\",\"name\":\"Tourism is back - 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