{"id":542960,"date":"2022-01-26T03:49:52","date_gmt":"2022-01-26T03:49:52","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=542960"},"modified":"2025-12-15T20:05:29","modified_gmt":"2025-12-15T20:05:29","slug":"govt-to-privatize-state-companies-every-month-or-every-two-months-planning-minister","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/govt-to-privatize-state-companies-every-month-or-every-two-months-planning-minister\/","title":{"rendered":"Gov\u2019t to privatize state companies \u201cevery month, or every two months\" -Planning Minister"},"content":{"rendered":"<section id=\"542962\" 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=\"542962\">\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\/26\/this-morning-fed-rate-decision-today-markets-resume-sell-off-afcon-egypt-v-ivory-coast-what-happens-if-russia-turns-off-the-gas\/\">\r\n                            THIS MORNING: Fed rate decision today; Markets resume sell-off; Afcon: Egypt v Ivory Coast; What happens if Russia turns off the gas?                        <\/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\/26\/this-morning-fed-rate-decision-today-markets-resume-sell-off-afcon-egypt-v-ivory-coast-what-happens-if-russia-turns-off-the-gas\/\" 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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What happens if Russia turns off the gas?&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/this-morning-fed-rate-decision-today-markets-resume-sell-off-afcon-egypt-v-ivory-coast-what-happens-if-russia-turns-off-the-gas\/\">\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\/26\/this-morning-fed-rate-decision-today-markets-resume-sell-off-afcon-egypt-v-ivory-coast-what-happens-if-russia-turns-off-the-gas\/&title=THIS MORNING: Fed rate decision today; Markets resume sell-off; Afcon: Egypt v Ivory Coast; What happens if Russia turns off the gas?\">\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+Fed+rate+decision+today%3B+Markets+resume+sell-off%3B+Afcon%3A+Egypt+v+Ivory+Coast%3B+What+happens+if+Russia+turns+off+the+gas%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F26%2Fthis-morning-fed-rate-decision-today-markets-resume-sell-off-afcon-egypt-v-ivory-coast-what-happens-if-russia-turns-off-the-gas%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\/26\/this-morning-fed-rate-decision-today-markets-resume-sell-off-afcon-egypt-v-ivory-coast-what-happens-if-russia-turns-off-the-gas\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542962\" class=\"content-area-description single-story post-542962 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-abu-dhabi tag-cryptocurrency tag-diplomacy tag-enterpriseam tag-equities tag-financial-markets tag-interest-rates tag-politics tag-russia tag-sports tag-uae tag-ukraine tag-us-federal-reserve tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Well, friends, we\u2019ve made it through another workweek together and our reward is<\/strong><strong> \u2026 cold <\/strong><strong>weather as far as the eye can see.<\/strong> That\u2019s the <a href=\"https:\/\/www.facebook.com\/photo\/?fbid=298030869022154&amp;set=a.289008423257732\">latest prognosis<\/a> from the national weather service, which doesn\u2019t see daytime temperatures in the capital rising above 17\u00b0C until well into February. The mercury will fall as low as 6\u00b0C overnight tonight and tomorrow. Here in the capital city, you can expect 2-4 mm of rain this morning, according to our favorite weather app, with the wind picking up substantially in the afternoon.<\/p><p><strong>School kids and public sector workers in Alexandria will have an extra day off this<\/strong> <strong>weekend<\/strong> after the governor <a href=\"https:\/\/www.facebook.com\/Alex.Gov.Eg\/posts\/301378908681499\">announced<\/a> that government offices and schools will close in anticipation of bad weather \u2014 though exams will still go ahead. Alexandria is expected to see medium to heavy rain and thunder tomorrow, according to <a href=\"https:\/\/www.facebook.com\/photo?fbid=298022369023004&amp;set=a.289008423257732\">the latest forecast<\/a>.<\/p><p><strong>NEWSFLOW IS HEAVY TODAY<\/strong>, with the wonderful Hala El Said making big news on the privatization and investment fronts, Egypt bucking the trend as the IMF downgrades slightly its global growth projections \u2014 and there\u2019s a metric ton of legislative news from the House of Representatives. We have all of this and more in this morning\u2019s news well, below.<\/p><p><strong>THE BIG STORY ABROAD- What happens when Gazprom turns off the taps?<\/strong> That\u2019s the question being asked by the Western media this morning as the US tries to find alternative sources of natural gas for Europe in the event conflict in Ukraine disrupts fuel supplies. Europe imports roughly a third of its gas and oil from Russia, potentially spelling dire consequences for the continent should Russia turn off the taps in a hypothetical conflict in Ukraine. The White House is reportedly in talks with suppliers in the Middle East and Asia, though Qatar \u2014 one of the world\u2019s biggest producers \u2014 apparently won\u2019t be able to step in. Everyone from the <a href=\"https:\/\/www.washingtonpost.com\/climate-environment\/2022\/01\/25\/ukraine-russia-natural-gas-sanctions\/\">Washington Post<\/a> and the <a href=\"https:\/\/www.nytimes.com\/2022\/01\/25\/us\/politics\/us-europe-fuel-supply-russian-cutoff.html\">New York Times<\/a> to <a href=\"https:\/\/www.cnbc.com\/2022\/01\/25\/white-house-seeks-energy-security-plan-for-europe-amid-russia-ukraine-crisis.html\">CNBC<\/a> and <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-25\/qatar-can-t-come-to-europe-s-aid-if-russian-gas-is-interrupted?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> have coverage.<\/p><p><strong>It\u2019s n<\/strong><strong>ot like we mention this often, but: <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/891598e1-8197-40e4-91d6-93e212f9c000\">Egypt has gas<\/a><\/strong><strong>.<\/strong> And our neighbors to the east have gas \u2014 and a pipeline through which to ship it to us. And we have pretty nifty liquefaction infrastructure, too\u2026<\/p><hr class=\"grey-line\"><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 next week the names of eight readers who we\u2019re inviting to<\/strong> <strong>breakfast <\/strong>when this current wave of the pandemic eases.<\/p><hr class=\"grey-line\"><p><strong>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p><p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>It\u2019s the big day in DC: How hawkish is the Fed going to be?<\/strong> The Federal Reserve is widely expected to confirm that it will begin raising interest rates in March at the end of its two-day policy meeting today. The markets are currently pricing in four 0.25-percentage-point interest rate hikes this year, in what would be the bank\u2019s most aggressive tightening cycle in decades as it tries to get a hold on inflation.<\/p><p><strong>The catch: Markets are not happy.<\/strong> Chairman Jay Powell will face the cameras today with the unenviable task of maintaining the Fed\u2019s credibility and talking tough on inflation while at the same time trying to temper rising volatility in the markets, which are balking at the prospect of higher interest rates. Don\u2019t be surprised to hear some slightly more dovish notes from the chairman about the Fed\u2019s plans post-March.<\/p><p><strong>US shares resume downwards slide as interest rates, Ukraine tensions loom:<\/strong> For a while, it looked like US shares were going to pull off another incredible afternoon reversal after suffering heavy losses in early trading for the second day running. It wasn\u2019t to be: <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-25\/microsoft-s-slowing-cloud-growth-casts-shadow-on-strong-report?srnd=premium&amp;sref=mmeFTDW1\">weak tech earnings<\/a> combined with investor nerves surrounding rising interest rates to send indexes falling deeper into the red late in the session. The S&amp;P 500 finished down 1.2%, the Nasdaq lost 2.3%, and the Dow Jones ended marginally in the red, down 0.2%. (<a href=\"https:\/\/finance.yahoo.com\/news\/asia-stocks-set-swing-volatile-223606140.html\">Bloomberg<\/a> | <a href=\"https:\/\/www.reuters.com\/business\/futures-fall-ahead-fed-meeting-corporate-earnings-2022-01-25\/\">Reuters<\/a>)<\/p><p><strong>Asian markets are mixed in early trading this morning<\/strong>, while futures suggest we have re-entered the dip-buying zone, with US and European indices in the green across the board as the markets seesaw ahead of the Fed\u2019s announcement.<\/p><p><strong>A fresh crypto winter? <\/strong>BTC fell to its lowest level since July when it dipped below USD 33k earlier this week, <a href=\"https:\/\/www.cnbc.com\/2022\/01\/25\/crypto-winter-investors-fear-bitcoin-has-further-to-drop.html\">CNBC<\/a>reports, before staging a recovery on Tuesday to bring it back past the USD 36k mark. Despite the comeback, some investors fear that the cryptocurrency could be heading into bear market territory. Ethereum and Solana have also fallen significantly from their record highs in November, leading some analysts to warn <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-25\/-crypto-winter-fears-send-chills-to-battered-bitcoin-faithful?sref=mmeFTDW1\">Bloomberg<\/a> that we could see a repeat of the Great Crypto Winter of 2018, when the market went down hard \u2014 and stayed there for months.<\/p><hr class=\"grey-line\"><p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> \u26bd\ufe0f <strong>AFCON- It\u2019s the Pharaohs\u2019 turn to fight for a place in the quarter-finals of <\/strong><strong>Afcon 2021 tonight.<\/strong> Egypt and Ivory Coast will meet for the first time in 14 years tonight in the penultimate last-16 game of the round. Having only scored two goals in their three group games, Egypt are going to need to find their shooting boots if they\u2019re going to get past the Ivorians, who scored six in an arguably tougher group.<\/p><p><strong>Kick off:<\/strong> 6:00pm CLT.<\/p><p><strong>Who will Egypt \/ Ivory Coast face in the quarters?<\/strong> Beating Ivory Coast will set up a quarter-final tie with Morocco, who beat Malawi 2-1 last night to secure their place in the last eight.<\/p><p><strong>Eight dead in stadium stampede:<\/strong> At least eight people have died and 38 were injured trying to watch Cameroon\u2019s last-16 tie against Comoros yesterday, after a stampede occurred while spectators were entering the stadium, <a href=\"https:\/\/apnews.com\/article\/coronavirus-pandemic-soccer-sports-health-africa-0f6c718a00d68159ed5c0aa133adace0\">the Associated Press<\/a> reports.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p><strong>PSA #2- Fully vaccinated tourists can, in fact, visit Abu Dhabi without getting a <\/strong><strong>booster <\/strong><strong>shot<\/strong>, according to the newly updated <a href=\"https:\/\/visitabudhabi.ae\/en\/plan-your-trip\/covid-safe-travel\">Abu Dhabi tourism website<\/a>. Only residents and citizens are required to have received a booster shot to enter the UAE\u2019s capital city, the emirate said, after previously signaling that a booster would be <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0c85b753-c915-4809-a035-491b881b9076\">required for anyone visiting<\/a>.<\/p><p><strong>FROM THE REGION-<\/strong><\/p><p><strong>Israeli President Isaac Herzog will pay an official visit to the UAE next week <\/strong>for talks with Abu Dhabi Crown Prince Mohammed bin Zayed Al Nahyan, marking the first-ever visit to the country by an Israeli head of state, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-25\/israeli-president-herzog-to-pay-historic-visit-to-uae-next-week?sref=mmeFTDW1\">Bloomberg<\/a> reports.<\/p><p><strong>CIRCLE YOUR CALENDAR- <\/strong><\/p><p><strong>Startups have until next Sunday, 30 January to apply for the spring 2022 cycle of <\/strong><strong>EGBank\u2019s Mint Incubator.<\/strong> The incubator offers two tracks: A sector-agnostic track for startups at the MVP stage, and a fintech track that accepts early-stage startups both at the ideation and MVP stages. Main founders must be between 16-35 years old. You can apply <a href=\"https:\/\/mint.eg-bank.com\/Home\/Incubator\/Applynow\">here<\/a>.<\/p><p><strong>The Cairo International Book Fair starts this Thursday at the Egypt International <\/strong><strong>Exhibition Center.<\/strong> Members of the public will be allowed to enter without providing proof of vaccination, the Culture Ministry <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/322236086613485\">said<\/a> last week. The two-week event runs through to 7 February.<\/p><p><strong>Catch an art exhibition for a good cause:<\/strong> The Sawiris Foundation for Social Development and AlexBank are organizing the first art exhibition by marginalized children in partnership with Townhouse Gallery, Al Ismaelia for Real Estate Investment, and Ubuntu Art Gallery, according to a <a href=\"https:\/\/ent.news\/2022\/1\/Dream-Art-Exhibition-First-Press-release-English-final-ML-1.pdf\">press release (pdf)<\/a>. The exhibition will showcase work from art workshops attended by 250 children from institutions such as Banati Foundation, Samusocial International, Association for the Protection of the Environment, Educate Me Foundation, the UNHCR, and Save the Children International. The opening of the exhibition is slated for 13 February before opening its doors to the public at Townhouse Gallery from 14-19 February.<\/p><p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/Web-view-01.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education.<\/p><p><strong>In today\u2019s issue:<\/strong> Threats to Egypt\u2019s water security from GERD to climate change and population growth have kept water projects high on the government\u2019s agenda in the past few years. The government budget for FY2021-2022 earmarks some EGP 21 bn to costly \u2014 albeit necessary \u2014 projects on water-saving, seawater desalination, and canal lining. But one project recently launched by the Irrigation Ministry could offer a more cost-effective solution to combat water scarcity threats: managing and rationing groundwater collection through the use of auto-control devices.<\/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\/abu-dhabi\/\">Abu Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cryptocurrency\/\">cryptocurrency<\/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\/equities\/\">equities<\/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\/interest-rates\/\">interest rates<\/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\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ukraine\/\">Ukraine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us-federal-reserve\/\">US Federal Reserve<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"542963\" 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=\"542963\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/542963\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542963\" class=\"content-area-description single-story post-542963 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=\"542964\" 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=\"542964\">\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\">Privatization<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/its-privatization-the-speed-metal-version\/\">\r\n                            It\u2019s privatization, the speed-metal version                        <\/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\/26\/its-privatization-the-speed-metal-version\/\" 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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data-image-title=\"339.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/339.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/339.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542964\" class=\"content-area-description single-story post-542964 post type-post status-publish format-standard has-post-thumbnail hentry category-privatization-watch tag-abu-qir-fertilizers tag-e-finance tag-enterpriseam tag-investment-watch tag-ipo-watch tag-national-investment-bank tag-privatization-watch tag-safi tag-sovereign-fund-of-egypt tag-state-privatization-program tag-state-owned-enterprises tag-wataniya-petroleum 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>Gov\u2019t to step up privatization efforts in coming months:<\/strong> The Madbouly government is planning to sell stakes in state-owned companies every month or two, Planning Minister Hala El Said told <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/egypt-plans-privatisations-every-month-or-two-planning-minister-2022-01-25\/\">Reuters<\/a>.<\/p>\n<p><strong>Riding the e-Finance wave:<\/strong> State-owned e-payments firm <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/23beb734-9f6f-4c55-9143-7c6935ecf804\">e-Finance completed the EGX\u2019s biggest IPO since 2015 in October<\/a>, attracting strong demand from foreign institutional investors and seemingly breathing new life into the government\u2019s stalled privatization agenda.<\/p>\n<p><strong>It\u2019s these investors the government wants:<\/strong> \u201cWe're trying to select the right companies that can attract good institutional and good private sector [investors], and at the same time help in deepening the capital market in Egypt,\u201d she told the newswire. \u201cWe're almost targeting a company every month, or every two months.\u201d<\/p>\n<p><strong>But no names:<\/strong> El Said declined to tell Reuters which companies the government is considering offering to investors.<\/p>\n<p><strong>Military firms to be part-privatized this year:<\/strong> Stakes in the National Service Projects Organization\u2019s bottled water company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d5d7a08f-8981-4c32-965f-7ae7fb4c4a23\">Safi<\/a> and oil company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7cd40893-6a1e-4d00-975c-6fa551a0f8f3\">Wataniya Petroleum<\/a> could be offered to investors later this year, El Said said. The Sovereign Fund of Egypt is currently restructuring the companies ahead of the sales, which could involve buy-ins by strategic investors ahead of possible IPOs on the EGX.<\/p>\n<p><strong>The program, stalled since launch in 2018 by market conditions and then the pandemic, gained momentum last year<\/strong><strong> following e-Finance\u2019s IPO<\/strong>, which raised <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d35303c7-9aac-4714-be4c-704b5e1319d9\">almost USD 370 mn<\/a> for the fintech firm. Several weeks later, state petrochem firm Abu Qir sold a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/352cb619-1060-47c5-8a48-c0f5d2e91ca3\">10% stake<\/a> in a secondary offering. State-owned <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/67e376a8-a8d5-4507-a4fb-3ee81552e365\">Ghazl El Mahalla FC<\/a> is set to offer a 67.5% stake in early February in its IPO, which is expected to raise a total of EGP 135 mn after attracting EGP 37 mn from institutional investors during the private placement.<\/p>\n<p><strong>Also from El Said:<\/strong><\/p>\n<ul>\n<li><strong>Gov\u2019t to make clear where private investment is welcome \u2014 and where it isn\u2019t:<\/strong> The government will soon publish a document explaining to private investors which areas of the economy they can invest in. Coming under the framework of its three-year IMF-backed reform program, the document \u201cwill say this is a green light where this is totally private sector, this is a red zone where this is totally for the government to invest, and this is a yellow zone where we can work together with guidelines and a level playing field,\u201d El Said said.<\/li>\n<li><strong>NIB restructure to take another four years:<\/strong> The government will finish <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5a762b9a-fb64-4a89-b00a-8e502eaacf5b\">restructuring the heavily-indebted National Investment Bank<\/a> by 2026, as part of a plan agreed with the IMF to reduce fiscal risks. El Said \u2014 who chairs the bank \u2014 said that the government has completed around half of the work, which involves gradually reducing the bank\u2019s liabilities and offloading assets over time.<\/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\/abu-qir-fertilizers\/\">Abu Qir Fertilizers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-finance\/\">e-finance<\/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\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-investment-bank\/\">National Investment Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/privatization-watch\/\">privatization watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/safi\/\">Safi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-privatization-program\/\">state privatization program<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-owned-enterprises\/\">state-owned enterprises<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wataniya-petroleum\/\">Wataniya Petroleum<\/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=\"542966\" 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=\"542966\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/egypt-bucks-the-trend-as-imf-downgrades-global-growth\/\">\r\n                            Egypt bucks the trend as IMF downgrades global growth                        <\/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\/26\/egypt-bucks-the-trend-as-imf-downgrades-global-growth\/\" 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 sees growth slowing to 3.8% in 2023, noting that, although this forecast is 0.2 percentage points higher than its previous expectation for next year, it \u201clargely reflects a mechanical pickup after current drags dissipate in the second half of 2022.\u201d <a href=\"https:\/\/ent.news\/2022\/1\/WEO_Update_Jan2022_FINAL.pdf\">Tap \/ click here to read the full report (pdf)<\/a>.<\/p>\n<p><strong>Bringing 2021 problems into 2022:<\/strong> The IMF points to the pandemic\u2019s \u201ccontinued grip,\u201d persistent supply chain disruptions, rising inflation, and tightening monetary conditions across the world as the factors that came together to put the global economy \u201cin a weaker position than anticipated\u201d at the beginning of 2022.<\/p>\n<p><strong>Egypt bucks the trend:<\/strong> The IMF has revised upwards its growth forecast for Egypt to 5.6% in FY 2021-2022, from its 5.2% projection made in October. The Egyptian government is also expecting the economy to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b071df06-4687-4696-8505-338934514f9a\">grow 5.6%<\/a>this year.<\/p>\n<p><strong>We\u2019re yet to see official figures, but the initial signs look good:<\/strong> Preliminary figures announced by Planning Minister Hala El Said last year suggest that the economy grew by <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ac19890f-00ac-42c9-97b8-ecfccc2d8e99\">9.8% in 1Q<\/a> \u2014 its quickest pace in two decades \u2014 and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/346bda71-d9f0-42ee-b29d-1a13546e3181\">6-7% in 2Q<\/a>, thanks to a strong base effect.<\/p>\n<p><strong>The MENA region also got a slight upgrade:<\/strong> The Fund now expects the MENA economy to grow at a 4.3% clip in 2022, up from 4.1% in October.<\/p>\n<p><strong>Globally, inflation is set to be reined in by 2023:<\/strong> Inflation \u201cis expected to remain elevated\u201d this year, hovering at around 3.9% in advanced economies and 5.9% in EMs and developing economies, before cooling down next year as supply chain disruptions are resolved and tightening monetary policy reins in price increases.<\/p>\n<p><strong>But US tightening poses risk for EMs: <\/strong>The report points to potential pressure on emerging market currencies and more expensive debt leading to \u201cchallenging monetary and fiscal policy trade-offs\u201d as the US Federal Reserve prepares to kick off its monetary tightening cycle. Meanwhile, vaccine rollouts continue to lag in developing countries and emerging markets, which is weighing on global growth recovery and allowing new variants of the virus to emerge, the report notes.<\/p>\n<p><strong>Downwards revisions in major economies weigh heaviest:<\/strong> The report sees major economies \u2014 the US, China, Canada, the UK, and the eurozone \u2014 clocking in lower growth this year and dragging down the forecast for overall global economic performance.<\/p>\n<p><strong>The downturn is likely to be front-loaded in 2022, with the first quarter of the year expected to see the bulk of the negative impact<\/strong>, the report suggests. This impact \u201cis expected to fade\u201d in 2Q2022, the report says.<\/p>\n<p><strong>This is all assuming we don\u2019t see another covid wave:<\/strong> The forecasts are based on the assumption that severe illness, hospitalization and death from the virus become more or less a thing of the past by the end of the year.<\/p>\n<p><strong>Yes, 2023 growth will be higher than expected, but there\u2019s a but: <\/strong>The IMF says global output will grow faster than it previously anticipated next year, but notes that the upwards revision it penciled in is not enough to compensate for its 2022 downgrade. \u201cCumulative global growth over 2022 and 2023 is projected to be 0.3 percentage points lower than previously forecast,\u201d the report says.<\/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\/economy\/\">economy<\/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\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-economic-outlook\/\">World Economic Outlook<\/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=\"542968\" 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=\"542968\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/record-high-daily-official-covid-cases\/\">\r\n                            Record high daily official covid cases                        <\/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\/26\/record-high-daily-official-covid-cases\/\" 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\/26\/record-high-daily-official-covid-cases\/')\">\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\/26\/record-high-daily-official-covid-cases\/\">\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=Record high daily official covid cases&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/record-high-daily-official-covid-cases\/\">\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\/26\/record-high-daily-official-covid-cases\/&title=Record high daily official covid cases\">\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=Record+high+daily+official+covid+cases+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F26%2Frecord-high-daily-official-covid-cases%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\/26\/record-high-daily-official-covid-cases\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542968\" class=\"content-area-description single-story post-542968 post type-post status-publish format-standard hentry category-covid-watch tag-covax tag-covid-19 tag-egyptian-drug-authority tag-enterpriseam tag-health-ministry tag-merck tag-pfizer tag-vaccines tag-world-health-organization 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>Daily covid cases reach record high as omicron strikes:<\/strong> The Health Ministry <a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/256368396674382\">reported<\/a> a record 1,809 new covid infections yesterday, up from 1,651 the day before. The previous record was 1,774, set on 19 June, 2020, during the first wave of the virus. Egypt has now disclosed a total of 413,558 confirmed cases of covid-19. The ministry also reported 35 new deaths, bringing the country\u2019s total death toll to 22,431.<\/p>\n<p><strong>The vaccine tally:<\/strong> 25,202,302 people are now fully vaccinated against the virus, while a little over 11.8 mn people have received their first shots and 580,112 people have received booster shots.<\/p>\n<p><strong>Molnupiravir for hospital use only: <\/strong>Merck\u2019s antiviral covid-19 pill will only be used in hospitals to treat patients and will not be available for over-the-counter purchase in pharmacies, the Health Ministry <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/323828843120876\">has said<\/a>. The Egyptian Drug Authority (EDA) on Monday <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ac5b8d09-b6ce-4c25-b4bb-c2402e5e0a64\">approved the pill for emergency use<\/a>, paving the way for five local firms to begin supplying local hospitals with the medication.<\/p>\n<p><strong>Is Gavi \/ Covax drying up?<\/strong> The World Health Organization\u2019s Gavi \/ Covax vaccine initiative \u2014 which is providing Egypt with 40 mn vaccine doses under an <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/acb4a69b-9a99-4394-881c-9aba0c326cb9\">agreement<\/a> signed last year \u2014 can no longer accept new jab commitments from donor countries due to a USD 5.2 bn funding gap for 2022, Gavi\u2019s chief exec told the <a href=\"https:\/\/www.ft.com\/content\/d8506581-81a3-4cd2-bf3c-073eca9a0ae4\">Financial Times<\/a>. Though countries donate jabs, the program needs funding for accessories crucial to the rollout, including syringes.<\/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\/covax\/\">Covax<\/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\/egyptian-drug-authority\/\">Egyptian Drug Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/health-ministry\/\">Health Ministry<\/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\/pfizer\/\">Pfizer<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-health-organization\/\">World Health Organization<\/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=\"542969\" 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=\"542969\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/542969\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542969\" class=\"content-area-description single-story post-542969 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=\"542970\" 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=\"542970\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/budget-planning-non-residential-evictions-hotels-a-new-tourism-fund-so-so-many-laws\/\">\r\n                            Budget, planning, non-residential evictions, hotels, a new tourism fund \u2014 so, so many laws\u2026                        <\/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\/26\/budget-planning-non-residential-evictions-hotels-a-new-tourism-fund-so-so-many-laws\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/budget-planning-non-residential-evictions-hotels-a-new-tourism-fund-so-so-many-laws\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/341.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"542971\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/budget-planning-non-residential-evictions-hotels-a-new-tourism-fund-so-so-many-laws\/341-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/341.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"341.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/341.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/341.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542970\" class=\"content-area-description single-story post-542970 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-development tag-enterpriseam tag-house-of-representatives tag-legislation-watch tag-public-private-partnership tag-unified-planning-act 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>The House of Representatives gave the Unified Budget Act + Unified Planning Act its final nod in <\/strong><strong>yesterday\u2019s plenary session<\/strong>, <a href=\"https:\/\/bit.ly\/3o0LpGx\">Youm7<\/a> and <a href=\"https:\/\/bit.ly\/3u2tF19\">Al Borsa<\/a> reported.<\/p>\n<p><strong>Unified Budget Act<\/strong><strong>:<\/strong> The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5e74b5b9-6e89-4fcb-b133-c2c9bd9dede1\">legislation<\/a> would require the government to be more transparent in how it plans public finances, forcing it to present an annual medium-term budgetary and fiscal strategy to the House and set spending limits for each ministry.<\/p>\n<p><strong>Unified Planning Act: <\/strong>The bill, which received <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b72f1dfa-8a14-4232-a972-e47d96f6dd13\">preliminary approval<\/a> earlier this month, would dictate how governorate-level economic, social, and urban development plans are financed and implemented. It would also seek to diversify funding for development projects by encouraging more public-private partnerships (PPP).<\/p>\n<p><strong>What\u2019s next for the bills: <\/strong>The usual process should now follow: The two bills will make their way to President Abdel Fattah El Sisi to be signed into law before taking effect when its executive regulations are published.<\/p>\n<p><strong>Also approved yesterday- <\/strong><\/p>\n<p><strong>#1- An overhauled <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d3b4aa4e-88a8-4a01-b3cc-f1045c1c7402\">tourism and hotels act<\/a><\/strong> was given <a href=\"http:\/\/www.parliament.gov.eg\/News_Show.aspx?frm=4289\">preliminary approval<\/a> by the House. The bill is set to simplify licensing rules for hotels and tourism companies. It will be up for further discussion in the House\u2019s next plenary session before receiving its final nod.<\/p>\n<p><strong>#2-<\/strong> <strong>A draft law that will see the creation of a tourism and antiquities fund<\/strong> received its final nod from the House, according to <a href=\"https:\/\/bit.ly\/3rMjlHX\">Al Borsa<\/a>. The fund will finance the development of tourist areas and archeological sites, as well as restoration projects from the Supreme Council of Antiquities and cultural heritage work.<\/p>\n<p><strong>#3- A draft law permitting landlords to evict organizations from non-residential properties<\/strong> was approved by the House Housing Committee yesterday. Labeled the \u2018old rent law\u2019 by the press, the bill will allow landlords to evict government agencies, public and private companies, embassies, clubs, associations and other entities leasing properties under the old rent system within five years of its being signed into law. Tenants would pay five times the current rent \u2014 with a 15% annual rent hike \u2014 in the meantime. The bill doesn\u2019t impact individuals renting residential properties under the old rent system. <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=25012022&id=623be63e-b90d-4bbe-ba8e-a7b4b76e1c00\">Al Shorouk<\/a> has more.<\/p>\n<p><strong>The House will hold its next session on Sunday, 6 February, <\/strong>according to <a href=\"https:\/\/bit.ly\/3nXDhGP\">Youm7<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development\/\">development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/public-private-partnership\/\">public-private partnership<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/unified-planning-act\/\">Unified Planning Act<\/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=\"542972\" 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=\"542972\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/edita-to-invest-c-egp-400-mn-in-2022-expansion\/\">\r\n                            Edita to invest c. EGP 400 mn in 2022 expansion                        <\/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\/26\/edita-to-invest-c-egp-400-mn-in-2022-expansion\/\" 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\/26\/edita-to-invest-c-egp-400-mn-in-2022-expansion\/')\">\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\/26\/edita-to-invest-c-egp-400-mn-in-2022-expansion\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Edita to invest c. EGP 400 mn in 2022 expansion&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/edita-to-invest-c-egp-400-mn-in-2022-expansion\/\">\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\/26\/edita-to-invest-c-egp-400-mn-in-2022-expansion\/&title=Edita to invest c. EGP 400 mn in 2022 expansion\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Edita+to+invest+c.+EGP+400+mn+in+2022+expansion+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F26%2Fedita-to-invest-c-egp-400-mn-in-2022-expansion%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\/26\/edita-to-invest-c-egp-400-mn-in-2022-expansion\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/342.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"542973\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/edita-to-invest-c-egp-400-mn-in-2022-expansion\/342-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/342.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"342.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/342.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/342.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542972\" class=\"content-area-description single-story post-542972 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-edita tag-enterpriseam tag-investment-watch tag-morocco wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a><strong> Edita Food Industries will invest <\/strong><strong>around EGP 400 mn<\/strong><strong> to add new production lines <\/strong><strong>for its baked goods and wafers segments in 2022<\/strong>, IR director Menna Shams El Din told Enterprise. Some of the investment will also be earmarked for expanding operations at its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fb75c32a-72b5-4bc0-9bf9-8b8042777dc8\">recently inaugurated<\/a> HoHos cake production facility in Morocco, Shams El Din said.<\/p>\n<p><strong>Edita has been all about baked goods + wafers lately:<\/strong> The company last week launched Freska Choco Sticks as part of its plan to expand its 15% market share in the wafer segment, which is its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f70152ea-b690-4f4a-944f-5d52f2002dbb\">fastest-growing<\/a> line of business. Meanwhile, its new <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/298b79e6-49e1-4d33-bb23-ffcd79261c06\">EGP 135 mn production line<\/a> \u2014 which is set to increase Edita\u2019s production capacity for baked goods by 20% amid rising demand for its Molto range \u2014 should be operational before the end of 1Q2022, Shams El Din confirmed. Edita had also eyed acquiring the assets of Egyptian Belgian Company to further boost its baked goods production capacity, before the transaction <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1c24329e-129f-4903-9d36-040e2ffded2d\">fell through<\/a> earlier this month.<\/p>\n<p><strong>As well as cross-border expansion: <\/strong>Edita expanded overseas for the first time with last year\u2019s inauguration of its Moroccan facility, which could eventually include at least two more production lines. The snackfoods giant is also <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7667353d-636f-4d99-96ff-487f9d4f97da\">planning to expand<\/a> to two new markets over the next five years, with entry into one of those slated for this year, as part of wider regional expansion plans.<\/p>\n<p><strong>OTHER INVESTMENT NEWS-<\/strong><\/p>\n<p><strong>China's Zhengbang Group plans to invest up to USD 20 mn to set up a new poultry <\/strong><strong>feed factory in Beheira<\/strong>, Al Mal quotes the company's Egypt general manager as saying. The company is currently in talks with authorities to finalize the licenses for the new plant, with construction expected to kick off in 2Q2022 and production to start by the end of the year.<\/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\/edita\/\">Edita<\/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\/morocco\/\">Morocco<\/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=\"542974\" 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=\"542974\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/new-oil-gas-exploration-bid-round-coming-soon\/\">\r\n                            New oil + gas exploration bid round coming soon                        <\/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\/26\/new-oil-gas-exploration-bid-round-coming-soon\/\" 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\/26\/new-oil-gas-exploration-bid-round-coming-soon\/')\">\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\/26\/new-oil-gas-exploration-bid-round-coming-soon\/\">\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=New oil + gas exploration bid round coming soon&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/new-oil-gas-exploration-bid-round-coming-soon\/\">\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\/26\/new-oil-gas-exploration-bid-round-coming-soon\/&title=New oil + gas exploration bid round coming soon\">\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=New+oil+%2B+gas+exploration+bid+round+coming+soon+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F26%2Fnew-oil-gas-exploration-bid-round-coming-soon%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\/26\/new-oil-gas-exploration-bid-round-coming-soon\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/343.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"542975\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/new-oil-gas-exploration-bid-round-coming-soon\/343-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/343.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"343.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/343.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/343.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542974\" class=\"content-area-description single-story post-542974 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-energy tag-enterpriseam 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><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>New oil and gas exploration rights will be up for grabs in 1H2022.<\/strong> The government plans to launch a new global tender for oil and gas exploration before June, <a href=\"https:\/\/www.asharqbusiness.com\/article\/31865\">Bloomberg Asharq<\/a> reported Oil Minister Tarek El Molla as saying during a press conference yesterday. No further details were disclosed on the upcoming tender.<\/p>\n<p><strong>The Oil Ministry kicked off 2022 by wrapping up its last tender:<\/strong> Earlier this month, seven international energy companies including BP and Eni were <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c5f11f01-49af-4e27-a91e-3410f499133d\">awarded<\/a> eight of the 24 oil and gas exploration blocks included in the government\u2019s 2021 <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2c4454f8-c6d8-46dc-a04b-f1d3ab0b9291\">bid round<\/a>. The ministry didn\u2019t disclose the status of the other 16 concessions put up for auction in the bid round, which ran between mid-February and the end of July last year.<\/p>\n<p><strong>The sector has seen a lot of activity lately:<\/strong> At the end of last year, the Oil Ministry inked a USD 3.5 bn<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/510ef9d0-a0b6-4280-91f0-19eb6d557bca\">agreement<\/a> with Apache and Sinopec, and Italian energy firm <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e23ca6f4-7f73-4872-a701-a93d211c3134\">Eni committed to invest a minimum USD 1 bn<\/a> on oil production in Egypt. Canadian firm Transglobe and London-based Pharos Energy this year <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7395b7af-9ef2-41d2-a01b-dd5fda097b17\">signed E&P agreements<\/a> worth USD 506 mn. The ministry <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b89e80d1-eecc-49b3-9791-fc96c18c3866\">wants to attract USD 7 bn<\/a> of foreign direct investment (FDI) into the oil and gas sector next fiscal year, El Molla said earlier this week.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/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=\"542976\" 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=\"542976\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/ezz-steel-acquires-abou-hashimas-remaining-egyptian-steel-stake\/\">\r\n                            Ezz Steel acquires Abou Hashima\u2019s remaining Egyptian Steel stake                        <\/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\/26\/ezz-steel-acquires-abou-hashimas-remaining-egyptian-steel-stake\/\" 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\/26\/ezz-steel-acquires-abou-hashimas-remaining-egyptian-steel-stake\/')\">\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\/26\/ezz-steel-acquires-abou-hashimas-remaining-egyptian-steel-stake\/\">\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=Ezz Steel acquires Abou Hashima\u2019s remaining Egyptian Steel stake&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/ezz-steel-acquires-abou-hashimas-remaining-egyptian-steel-stake\/\">\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\/26\/ezz-steel-acquires-abou-hashimas-remaining-egyptian-steel-stake\/&title=Ezz Steel acquires Abou Hashima\u2019s remaining Egyptian Steel stake\">\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=Ezz+Steel+acquires+Abou+Hashima%E2%80%99s+remaining+Egyptian+Steel+stake+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F26%2Fezz-steel-acquires-abou-hashimas-remaining-egyptian-steel-stake%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\/26\/ezz-steel-acquires-abou-hashimas-remaining-egyptian-steel-stake\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542976\" class=\"content-area-description single-story post-542976 post type-post status-publish format-standard hentry category-ma-watch tag-ahmed-abou-hashima tag-egyptian-steel tag-enterpriseam tag-ezz-steel tag-ma-watch tag-orascom-construction wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Ezz Steel has completed its purchase of Ahmed Abou Hashima\u2019s 18% stake in <\/strong><strong>Egyptian Steel<\/strong>, announcing yesterday in an <a href=\"https:\/\/ent.news\/2022\/1\/Ezz-Steel-18-percent-acquisition-Egyptian-Steel-EGX.pdf\">EGX filing (pdf)<\/a> that the shares have changed hands. The steel giant\u2019s board of directors in December <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3508aa53-f618-489c-ad1a-7685e6e073bc\">approved the acquisition<\/a> through its subsidiary Al Ezz Dekheila Steel, which was set to pay EGP 2.5 bn for the shares in an all-cash transaction, valuing Egyptian Steel at almost EGP 14 bn. The move sees Abou Hashima sell down his remaining shares in the company he founded back in 2010, after he sold an 82% stake to the military's National Service Projects Organization in 2017.<\/p>\n<p><strong>ADVISORS: <\/strong>Sarie Eldin & Partners were sell-side legal advisors, with Rizkana & Partners acting as buy-side counsel. Eagle Advisors conducted the fair value study, while Moore Egypt served as the auditor.<\/p>\n<p><strong>ALSO IN M&A-<\/strong><\/p>\n<p><strong>OC completes acquisition of Sawiris-owned business: <\/strong>Orascom Construction (OC) has completed its USD 35 mn acquisition of 100% of a Sawiris family-owned equipment import, distribution and services business, the company said in an <a href=\"https:\/\/ent.news\/2022\/1\/Orascom-Construction-Acquisition.pdf\">EGX disclosure (pdf)<\/a>. The acquisition, which was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f0d37ea0-722f-4a5a-ac9f-44e9250446a4\">greenlit by OC shareholders<\/a> in December, saw OC acquire the target company\u2019s three subsidiaries \u2014 Orascom Trading, Orascom Freezone and National Equipment Company.<\/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\/ahmed-abou-hashima\/\">Ahmed Abou Hashima<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-steel\/\">Egyptian Steel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ezz-steel\/\">Ezz Steel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-construction\/\">Orascom Construction<\/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=\"542977\" 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=\"542977\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/542977\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542977\" class=\"content-area-description single-story post-542977 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=\"542978\" 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=\"542978\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/last-nights-talk-shows-el-sisi-talks-gerd-libya-crisis-with-algeria-prez\/\">\r\n                            Last Night\u2019s Talk Shows: El Sisi talks GERD, Libya crisis with Algeria 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\/26\/last-nights-talk-shows-el-sisi-talks-gerd-libya-crisis-with-algeria-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\/26\/last-nights-talk-shows-el-sisi-talks-gerd-libya-crisis-with-algeria-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\/26\/last-nights-talk-shows-el-sisi-talks-gerd-libya-crisis-with-algeria-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: El Sisi talks GERD, Libya crisis with Algeria prez&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/last-nights-talk-shows-el-sisi-talks-gerd-libya-crisis-with-algeria-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\/26\/last-nights-talk-shows-el-sisi-talks-gerd-libya-crisis-with-algeria-prez\/&title=Last Night\u2019s Talk Shows: El Sisi talks GERD, Libya crisis with Algeria 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+El+Sisi+talks+GERD%2C+Libya+crisis+with+Algeria+prez+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F26%2Flast-nights-talk-shows-el-sisi-talks-gerd-libya-crisis-with-algeria-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\/26\/last-nights-talk-shows-el-sisi-talks-gerd-libya-crisis-with-algeria-prez\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542978\" class=\"content-area-description single-story post-542978 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-enterpriseam tag-health-ministry tag-last-nights-talk-shows tag-politics tag-vaccines wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>El Sisi, Tebboune talks dominate the talk shows:<\/strong> President Abdel Fattah El Sisi\u2019s discussions with Algerian President Abdelmadjid Tebboune in Cairo yesterday was the talk of the airwaves last night. The two heads of state discussed the dispute over the Grand Ethiopian Renaissance Dam (GERD) and the political crisis in Libya, where efforts to organize national elections are in danger of falling apart. Kelma Akhira (<a href=\"https:\/\/www.youtube.com\/watch?v=AhGvxy_P6q8\">watch, runtime: 9:45<\/a>), Yahduth Fi Masr (<a href=\"https:\/\/www.youtube.com\/watch?v=KAheb3OJW-I\">watch, runtime: 3:05<\/a>), Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=Zo6LWtGJBrk\">watch, runtime: 3:13<\/a>), and Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=z0MELrx5QeQ\">watch, runtime: 3:10<\/a>) all had coverage.<\/p>\n<p><strong>Covid vaccines for the kids:<\/strong> The Health Ministry is considering allowing children as young as five to be vaccinated against covid-19, Ministry Spokesperson Hossam Abdel Ghaffar said on Ala Mas\u2019ouleety last night (<a href=\"https:\/\/www.youtube.com\/watch?v=6RKwwSiLBTc\">watch, runtime: 9:40<\/a>). The vaccine rollout has so far only been extended to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8260b20c-1948-423b-939f-40ffffd52503\">children aged 12<\/a> and above.<\/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\/health-ministry\/\">Health Ministry<\/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\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"542979\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column 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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=\"542980\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/egypt-in-the-news-as7ab-wala-a3az-stirs-the-outrage-machine\/\">\r\n                            Egypt in the News: As7ab wala A3az stirs the outrage machine                        <\/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\" 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/egypt-in-the-news-as7ab-wala-a3az-stirs-the-outrage-machine\/&title=Egypt in the News: As7ab wala A3az stirs the outrage machine\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+in+the+News%3A+As7ab+wala+A3az+stirs+the+outrage+machine+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F26%2Fegypt-in-the-news-as7ab-wala-a3az-stirs-the-outrage-machine%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\/26\/egypt-in-the-news-as7ab-wala-a3az-stirs-the-outrage-machine\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542980\" class=\"content-area-description single-story post-542980 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-enterpriseam tag-eu tag-terrorism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The cause celebre du jour that is <\/strong><strong><a href=\"https:\/\/www.netflix.com\/title\/81413645\">As7ab wala A3az<\/a><\/strong><strong> is leading coverage in the <\/strong><strong>foreign press this morning:<\/strong> Western journos are picking up on uproar in the Egyptian Twittersphere, where people are all but accusing Netflix of causing the downfall of Egyptian civilization. The film checks quite a few items on the list of transgressions against conservative social mores (albeit tamely): same-[redacted] relationships \u2705; (female) infidelity \u2705; alcohol consumption \u2705. This has led to Rep. Mostafa Bakry calling for Netflix to be banned from the country, while some social media users have directed particular fury at star Mona Zaki, who is facing calls from some to be ejected from the actors\u2019 union. Our advice: Watch the move and form your own opinion. (<a href=\"https:\/\/www.yahoo.com\/entertainment\/netflix-stands-arabic-film-perfect-184625055.html\">Variety<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/world\/2022\/01\/25\/netflix-first-arabic-film-perfect-strangers-egypt-backlash\/\">Washington Post<\/a> | <a href=\"https:\/\/www.thenationalnews.com\/mena\/egypt\/2022\/01\/25\/egypts-film-stars-rally-behind-mona-zaki-amid-perfect-strangers-remake-controversy\/\">The National<\/a>)<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/terrorism\/\">terrorism<\/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=\"542981\" 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=\"542981\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/state-department-nods-to-usd-2-5-bn-arms-sale-to-egypt\/\">\r\n                            State Department nods to USD 2.5 bn arms sale 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\/26\/state-department-nods-to-usd-2-5-bn-arms-sale-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\/26\/state-department-nods-to-usd-2-5-bn-arms-sale-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\/26\/state-department-nods-to-usd-2-5-bn-arms-sale-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=State Department nods to USD 2.5 bn arms sale to Egypt&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/state-department-nods-to-usd-2-5-bn-arms-sale-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\/26\/state-department-nods-to-usd-2-5-bn-arms-sale-to-egypt\/&title=State Department nods to USD 2.5 bn arms sale 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=State+Department+nods+to+USD+2.5+bn+arms+sale+to+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F26%2Fstate-department-nods-to-usd-2-5-bn-arms-sale-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\/26\/state-department-nods-to-usd-2-5-bn-arms-sale-to-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542981\" class=\"content-area-description single-story post-542981 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-cairn-energy tag-capricorn-energy tag-ci-capital tag-commodities tag-delta-steel tag-e-commerce tag-education tag-energy tag-enterpriseam tag-factoring tag-jumia tag-non-banking-financial-services tag-oil-and-gas tag-public-enterprises-ministry tag-real-estate tag-security tag-shell tag-state-owned-enterprises wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>US green-lights USD 2.5 bn Egypt arms sale:<\/strong> Egypt could spend as much as USD 2.5 bn (EGP 39.3 bn) on American fighter jets and radar systems after the State Department yesterday (statements: <a href=\"https:\/\/www.dsca.mil\/press-media\/major-arms-sales\/egypt-c-130j-30-super-hercules-aircraft\">here<\/a> and <a href=\"https:\/\/www.dsca.mil\/press-media\/major-arms-sales\/egypt-air-defense-radar-systems\">here<\/a>) green-lit the sale. The government wants to purchase 12 Super Hercules planes from US defense giant Lockheed Martin for up to USD 2.2 bn, while three SPS-48 land-based radars would be supplied by L3Harris Technologies for as much as USD 355 mn. Egypt was the third-largest arms purchaser of any country in the period spanning 2013-2020, according to the Stockholm International Peace Research Institute.<\/p>\n<p><strong>CI Capital is set to offer factoring services this year, with a strong pipeline <\/strong><strong>expected to \u201cboost the company\u2019s portfolio,\u201d<\/strong> a senior official from the state-owned investment bank told us yesterday, confirming a <a href=\"https:\/\/dailynewsegypt.com\/2022\/01\/25\/ci-capital-plans-to-launch-factoring-services-in-2022\/\">Daily News<\/a> report. The bank obtained a factoring license last year from the Financial Regulatory Authority (FRA), the source added, without disclosing further details on their upcoming plans or an expected timeline. The company will integrate factoring into its portfolio of non-banking financial services (NBFS), which includes its microfinance arm <a href=\"https:\/\/www.cicapital.com\/business_lines\/microfinance\/\">Reefy<\/a>, leasing venture <a href=\"https:\/\/www.cicapital.com\/business_lines\/leasing\/\">Corplease<\/a>, consumer finance outfit <a href=\"https:\/\/www.cicapital.com\/business_lines\/consumer-finance\/\">Souhoula<\/a> and mortgage finance firm <a href=\"https:\/\/www.cicapital.com\/business_lines\/morgage-finance\/\">CI Mortgage<\/a>. Head to our handy explainer <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6604a04a-9370-42f1-a7a3-e3af5dfc0357\">here<\/a> for more details on how factoring works, and why more NBFS players are looking to offer factoring services.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>Homebuyers looking to lease-purchase properties will no longer have to <\/strong><strong>make an advance payment<\/strong>, the Financial Regulatory Authority said in a <a href=\"https:\/\/bit.ly\/348S9eo\">statement<\/a>yesterday, in a move meant to help more citizens buy their own real estate.<\/li>\n<li><strong>Arizona State University<\/strong> has <a href=\"https:\/\/www.facebook.com\/USEmbassyCairo\/posts\/299870418852607\">agreed to partner<\/a> with <strong>Galala University<\/strong> to create the first dual-degree program between a US university and an Egyptian public university.<\/li>\n<li><strong>Jumia has <\/strong><strong><a href=\"https:\/\/www.zawya.com\/mena\/en\/press-releases\/story\/Jumia_announces_the_launch_of_its_second_tech_center_in_Egypt-ZAWYA20220124092841\/\">launched<\/a><\/strong><strong> its second Egyptian tech center in Alexandria<\/strong>. The center is the first regional center for tech and software development in Egypt, and will service the 11 African countries in which Jumia operates.<\/li>\n<li><strong>Capricorn Energy<\/strong> (formerly Cairn Energy) has seen <strong>production from its <\/strong><strong>Western Desert oil assets <\/strong><strong><a href=\"https:\/\/www.capricornenergy.com\/news-media\/news\/2022\/operational-and-trading-update\/#Tabundefined=1\">rise 8%<\/a><\/strong> since <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/666f0d42-c196-4ee2-84dd-f279ba153a89\">acquiring them from Shell<\/a>last year.<\/li>\n<li>State-owned <strong>Delta Steel <\/strong>will be allowed to <strong>ramp up production more than 7x<\/strong> after the Public Enterprises Ministry granted it a license to <strong>produce up to 500k tons of steel each year<\/strong>.<\/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\/cairn-energy\/\">Cairn Energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capricorn-energy\/\">Capricorn Energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ci-capital\/\">CI Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span 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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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/chimera-closes-usd-10-bn-venture-capital-fund\/\">\r\n                            Chimera closes USD 10 bn venture capital fund                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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<\/a>\r\n\r\n                \n<article id=\"post-542982\" class=\"content-area-description single-story post-542982 post type-post status-publish format-standard hentry category-planet-finance tag-abu-dhabi tag-abu-dhabi-ports tag-adq tag-alpha-wave tag-chimera-investment tag-credit-suisse-group tag-enterpriseam tag-financial-markets tag-gemini-global-development tag-ora-developers tag-planet-finance tag-swvl tag-uae tag-venture-capital 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>Our friends at the UAE\u2019s Chimera closes fundraising for one of the largest <\/strong><strong>funds in VC history:<\/strong> Our friends at Abu Dhabi-based investment firm Chimera Capital have closed their second venture capital fund at USD 10 bn, according to a company <a href=\"https:\/\/ent.news\/2022\/1\/Chimera-AlphaWave-VC-Fund.pdf\">press release (pdf)<\/a>. The Alpha Wave Ventures II fund \u2014 one of the largest-ever VC funds \u2014 is co-managed by New York-based Alpha Wave and will target tech-driven, growth-stage companies globally, with a focus on India, Chimera CEO Seif Fikry told <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-25\/one-of-biggest-ever-tech-funds-wins-backing-of-uae-royal-s-firm?srnd=premium-middle-east\">Bloomberg<\/a>. Chimera, a unit of Abu Dhabi\u2019s Royal Group, hit final close on their first venture capital fund at USD 75 mn <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/efc90926-be47-4a5a-a57f-f429f2a02e3f\">in December<\/a>, and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/36ab74bc-5da8-4373-8d72-ed3d2e4a8d74\">recently bought 25%<\/a> of Sawiris vehicle Gemini Global Development, which owns Ora Developers Egypt.<\/p><p><strong>What they said:<\/strong> Alpha Ventures II builds \u201con the successful launch of five ETFs and a global venture capital fund, and the strong track record of successful fund deployments and deal executions developed over the past three years,\u201d said Firky added.<\/p><p><strong>ADQ hopes to raise USD 1.1 bn from Abu Dhabi Ports share sale: <\/strong>Abu Dhabi\u2019s sovereign wealth fund is looking to raise up to USD 1.1 bn from its sale of 1.3 bn shares in Abu Dhabi Ports, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-25\/adq-seeks-to-raise-1-1-billion-from-abu-dhabi-ports-share-sale?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> reports, citing sources familiar with the matter. ADQ is hoping to list the shares on 8 February. ADQ had initially <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e75f8e9e-d4c3-4c72-9506-873a9f420f76\">planned<\/a> to list the company \u2014 which accounts for about 14% of Abu Dhabi\u2019s non-oil growth \u2014 before the end of 2021.<\/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>11,542<\/p>\n<\/td>\n<td>\n<p>-0.6% (YTD: -3.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>12,109<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: +7.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>8,714<\/p>\n<\/td>\n<td>\n<p>+0.1% (YTD: +2.7%)<\/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>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,157<\/p>\n<\/td>\n<td>\n<p>+0.3% (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>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,356<\/p>\n<\/td>\n<td>\n<p>-1.2% (YTD: -8.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,371<\/p>\n<\/td>\n<td>\n<p>+1.0% (YTD: -0.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 88.20<\/p>\n<\/td>\n<td>\n<p>+2.2%<\/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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 4.04<\/p>\n<\/td>\n<td>\n<p>-0.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,852<\/p>\n<\/td>\n<td>\n<p>-0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 36,588<\/p>\n<\/td>\n<td>\n<p>-0.6% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 fell 0.6% yesterday<\/strong> on turnover of EGP 688 mn (39.5% below the 90-day average). Local investors were net buyers. The index is down 3.4% YTD.<\/p><p><strong>In the green: <\/strong>Speed Medical (+2.2%), GB Auto (+2.1%) and Heliopolis Housing (+1.6%).<\/p><p><strong>In the red: <\/strong>Fawry (-2.4%), AMOC (-2.1%) and CIB (-1.3%).<\/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\/abu-dhabi\/\">Abu Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abu-dhabi-ports\/\">Abu Dhabi Ports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/adq\/\">ADQ<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alpha-wave\/\">Alpha Wave<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/chimera-investment\/\">Chimera Investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/credit-suisse-group\/\">Credit Suisse Group<\/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\/gemini-global-development\/\">Gemini Global Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ora-developers\/\">Ora Developers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/swvl\/\">Swvl<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/venture-capital\/\">venture capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"542983\" 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=\"542983\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/satterfield-makes-first-trip-to-egypt-as-us-horn-of-africa-envoy\/\">\r\n                            Satterfield makes first trip to Egypt as US Horn of Africa envoy                        <\/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\/26\/satterfield-makes-first-trip-to-egypt-as-us-horn-of-africa-envoy\/\" 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\/26\/satterfield-makes-first-trip-to-egypt-as-us-horn-of-africa-envoy\/')\">\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\/26\/satterfield-makes-first-trip-to-egypt-as-us-horn-of-africa-envoy\/\">\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=Satterfield makes first trip to Egypt as US Horn of Africa envoy&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/satterfield-makes-first-trip-to-egypt-as-us-horn-of-africa-envoy\/\">\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\/26\/satterfield-makes-first-trip-to-egypt-as-us-horn-of-africa-envoy\/&title=Satterfield makes first trip to Egypt as US Horn of Africa envoy\">\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=Satterfield+makes+first+trip+to+Egypt+as+US+Horn+of+Africa+envoy+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F26%2Fsatterfield-makes-first-trip-to-egypt-as-us-horn-of-africa-envoy%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\/26\/satterfield-makes-first-trip-to-egypt-as-us-horn-of-africa-envoy\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542983\" class=\"content-area-description single-story post-542983 post type-post status-publish format-standard hentry category-diplomacy tag-diplomacy tag-enterpriseam tag-ethiopia tag-foreign-ministry tag-gerd tag-politics tag-sameh-shoukry tag-sudan tag-us wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Shoukry talks GERD, Sudan with US Horn of Africa envoy:<\/strong> The Biden administration\u2019s new envoy to the Horn of Africa, David Satterfield, discussed the Grand Ethiopian Renaissance Dam (GERD) and the political crisis in Sudan with Foreign Ministry Sameh Shoukry in Cairo yesterday, the Egyptian Foreign Ministry said in <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/245523394424181\">a statement<\/a>. Satterfield, who <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4903fe42-4b1c-47c8-a0cc-0b58a80b97f7\">replaced Jeffrey Feltman<\/a> as Washington\u2019s regional envoy earlier this month, is currently touring the region \u201cto promote democratic civilian rule in Sudan and to support peace and prosperity in the Horn of Africa,\u201d the US State Department <a href=\"https:\/\/www.state.gov\/travel-of-the-special-envoy-for-the-horn-of-africa-to-kenya-egypt-the-uae-turkey-and-israel\/\">said<\/a> Tuesday. He has already visited Saudi Arabia, Sudan, and Ethiopia, and Kenya, and will travel next to the UAE, Turkey, and Israel.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ethiopia\/\">Ethiopia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-ministry\/\">Foreign Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/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\/sameh-shoukry\/\">Sameh Shoukry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sudan\/\">Sudan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"542984\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhat\/\">\r\n                            Read Hardhat                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">13<\/div>\r\n    \r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/could-automated-tech-be-the-cost-effective-solution-we-need-to-combat-water-scarcity\/\"> \r\n                            Could automated tech be the cost-effective solution we need to combat water scarcity?<\/a>\r\n                        <\/h3>\r\n    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/could-automated-tech-be-the-cost-effective-solution-we-need-to-combat-water-scarcity\/\" 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 government budget for FY2021-2022 earmarks some <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/81752172-816f-49fe-9fc3-52b7a7f79894\">EGP 21 bn<\/a> to projects covering water-saving, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a70db4f1-664a-4a7b-ad25-022b8b2d3e1d\">seawater desalination<\/a>, and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9a79aecc-e12f-4ef3-96da-9bd999e0818d\">canal lining<\/a>. Many of these projects are costly \u2014 albeit necessary. But one project recently launched by the Irrigation Ministry could offer a more cost-effective solution to combat water scarcity threats: managing and rationing groundwater collection through the use of auto-control devices.<\/p>\n<p><strong>The project saw <\/strong><strong><a href=\"https:\/\/www.facebook.com\/mwrifb\/posts\/284587100372535\">the recent installation<\/a><\/strong><strong> of auto-control devices in 15 underground wells in the New Valley<\/strong>, under a <a href=\"https:\/\/bit.ly\/3tYE7qk\">cooperation agreement<\/a> signed between the governorate and the Irrigation Ministry in 2019. The network of devices \u2014 which will include four more currently being installed \u2014 are operated remotely through a central control room in Cairo, allowing for the accurate calculation of consumption rates from wells to help prevent excessive withdrawal of water.<\/p>\n<p><strong>Why the New Valley? <\/strong>Groundwater is the main source of irrigation in the New Valley. <a href=\"https:\/\/ent.news\/2022\/1\/New-Valley-Research-Paper-Hani-El-Shatla.pdf\">Studies estimate<\/a> that over 78k bcm of groundwater reserves fed from the Nubian sandstone aquifer \u2014 the world\u2019s largest known fossil water aquifer system \u2014 can be found in the governorate. This is currently a governorate-level project, and the sources we spoke to could not confirm whether it will be expanded beyond the New Valley down the line.<\/p>\n<p><strong>Why do we need to monitor groundwater?<\/strong> Groundwater is nonrenewable, especially since Egypt is a dry country that doesn\u2019t get much rainfall. Without proper regulation and monitoring, the main water source feeding into the area, and one of the most scarce forms of water we have, is easily depleted through excessive and unlawful withdrawals from wells, Abbas Sharaky, professor of water resources at Cairo University, explained. This can also have a deteriorating effect on the quality of groundwater, and can strain the wells (which are themselves costly to dig), Sharaky added.<\/p>\n<p><strong>How do the devices work?<\/strong> Every groundwater well operates with a license that specifies a daily withdrawal limit (measured by a water meter) and the number of operating hours it is allowed per day, depending on the well\u2019s capacity and the type of crop it irrigates, Ayman El Sayed, head of the telemetry department at the Irrigation Ministry, told us. The auto-control device uses sensors to detect if the withdrawal limit is reached, at which point the mechanism automatically cuts off the well\u2019s power supply.<\/p>\n<p><strong>Throw in some solar energy for efficiency:<\/strong> The solar-powered wells \u2014 which came as part of a <a href=\"https:\/\/www.sis.gov.eg\/Story\/133720\/Sisi-opens-25-solar-operated-water-wells-in-New-Valley?lang=en-us\">separate project<\/a> and inaugurated in 2018 \u2014 also automatically stop operating once the sun is down, limiting the well\u2019s activity to seven or eight hours a day, and relieving the pressure that some farmers place on wells when operating them around the clock.<\/p>\n<p><strong>\u2026With other environmental circuit breakers thrown in:<\/strong> A hygrometer \u2014 a device that measures humidity levels in soil to help with irrigation scheduling \u2014 was also installed in several locations in the New Valley, and connected to the control system in order to transfer the data to farmers in real-time via text messages, allowing them to determine the optimal time to start and end the irrigation process. The new system helps increase the efficiency of the irrigation process, optimize the use of water and energy, and preserve the wells by removing the strain on them from operating at full capacity, 24 hours a day, Sharaky explained.<\/p>\n<p><strong>These efforts come in tandem with the collection of rainwater:<\/strong> The government <a href=\"https:\/\/www.mwri.gov.eg\/%d8%a8%d9%8a%d8%a7%d9%86-%d8%b5%d8%ad%d9%81%d9%89-41\/\">ramped up efforts<\/a> to harvest rainwater when several governorates, including Alexandria, Marsa Matrouh and North and South Sinai, were hit with torrential rains this winter, in an effort to conserve a normally scarce water resource. Some 2.34 mcm of rainwater was harvested and used as an alternative source of drinking and irrigation for the residents of the governorates affected by the rains.<\/p>\n<p><strong>One of few cost-efficient solutions for water scarcity: <\/strong>Each auto-control device used in the groundwater collection monitoring project costs EGP 30k to install, meaning that the 19 devices cost some EGP 570k, Sayed told us. The project is financed through tenders issued by the ministry.<\/p>\n<p><strong>Which is a welcome change from the bns we\u2019re spending: <\/strong>Most of Egypt\u2019s answers to our water scarcity challenges have come with hefty price tags, from the EGP 18 bn Bahr El Baqar wastewater treatment facility to the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/230ab7eb-25c7-4298-b601-6c6e298eac0a\">USD 2.5 bn plan<\/a> to build 17 solar-powered desalination plants. Egypt\u2019s <a href=\"https:\/\/enterprise.press\/hardhats\/counting-costs-govts-usd-50-bn-water-saving-plan\/\">USD 50 bn water plan<\/a> could even grow to cost EGP 1 tn (around USD 66 bn) by 2037, President Abdel Fattah El Sisi <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9a79aecc-e12f-4ef3-96da-9bd999e0818d\">previously said<\/a>.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top infrastructure stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>An Iraqi industrial delegation <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0a681392-3a78-4682-9f27-2e189ef3d3a8\">came to Egypt<\/a><\/strong> seeking the help of the government and private sector to establish industrial zones and develop the country\u2019s industries.<\/li>\n<li><strong>Egypt is considering the issuance of sustainable development bonds<\/strong> to finance the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/da2a81a3-1162-48a2-9a5d-5768514275c1\">Decent Life initiative<\/a>, International Cooperation Minister Rania Al Mashat <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/199e5d40-1615-47e9-8990-e93f1ab1a9aa\">said<\/a>.<\/li>\n<li><strong>Elsewedy Electric subsidiary Egytech Cables <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3eef6a32-cb31-409a-83c0-71635217a637\">signed two turnkey agreements<\/a><\/strong><strong> worth EGP 686 mn<\/strong> for the design, supply, and installation of underground cables in a residential city in Kuwait.<\/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\/abbas-sharaky\/\">Abbas Sharaky<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/auto-control-devices\/\">auto-control devices<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ayman-el-sayed\/\">Ayman El Sayed<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fossil-water\/\">fossil water<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/groundwater-collection\/\">Groundwater collection<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/irrigation-ministry\/\">Irrigation Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nubian-sandstone-aquifer\/\">Nubian sandstone aquifer<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/water\/\">water<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"542986\" 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\/26\/542986\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542986\" class=\"content-area-description single-story post-542986 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 - 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>14-19 February (Monday- Saturday): An <a href=\"https:\/\/ent.news\/2022\/1\/Dream-Art-Exhibition-First-Press-release-English-final-ML-1.pdf\">art exhibition<\/a> created by marginalized children will be held at Townhouse Gallery. The event is organized by the Sawiris Foundation for Social Development, AlexBank, Townhouse Gallery, Al Ismaelia for Real Estate Investment, and Ubuntu Art Gallery.<\/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":542961,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-542960","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"a70858d9-9239-4461-a31f-10dce54c5b17","teaser":"","photo_url":"https:\/\/ent.news\/2022\/1\/337.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>Gov\u2019t to privatize state companies \u201cevery month, or every two months&quot; -Planning Minister - 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\/govt-to-privatize-state-companies-every-month-or-every-two-months-planning-minister\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t to privatize state companies \u201cevery month, or every two months&quot; 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