{"id":542988,"date":"2022-01-30T04:05:19","date_gmt":"2022-01-30T04:05:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=542988"},"modified":"2025-12-15T20:06:08","modified_gmt":"2025-12-15T20:06:08","slug":"central-bank-of-egypt-likely-to-leave-rates-on-hold-in-first-2022-meeting-poll","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/central-bank-of-egypt-likely-to-leave-rates-on-hold-in-first-2022-meeting-poll\/","title":{"rendered":"Central Bank of Egypt likely to leave rates on hold in first 2022 meeting -Poll"},"content":{"rendered":"<section id=\"542990\" 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=\"542990\">\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\/30\/this-morning-our-analyst-poll-rings-in-interest-rate-week-afcon-quarter-final-tonight\/\">\r\n                            THIS MORNING: Our analyst poll rings in interest rate week + Afcon quarter-final tonight                        <\/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\/30\/this-morning-our-analyst-poll-rings-in-interest-rate-week-afcon-quarter-final-tonight\/\" 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 consensus in our poll of analysts is that policymakers will hold rates steady. The meeting is the first after the US Federal Reserve signaled last week that <a href=\"https:\/\/www.cnbc.com\/2022\/01\/26\/fed-decision-january-2022-.html\">it could start raising interest rates in March<\/a>. Goldman Sachs is calling <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-29\/goldman-sachs-predicts-fed-will-raise-rates-five-times-this-year?sref=mmeFTDW1\">up to five rate hikes this year<\/a> in the US of A, while BofA Global Research is <a href=\"https:\/\/www.marketwatch.com\/story\/federal-reserve-seen-as-hiking-interest-rates-seven-times-by-25bps-each-in-2022-or-once-at-every-meeting-bofa-says-11643386065\">penciling in seven 0.25 point hikes<\/a>. We have the full story in this morning\u2019s Speed Round, below.<\/p><p><strong>\u2026And it\u2019s also PMI week:<\/strong> January PMI figures for Egypt, Saudi Arabia, and the UAE are <a href=\"https:\/\/www.markiteconomics.com\/Public\/Release\/ReleaseDates\">due out on<\/a><a href=\"https:\/\/www.markiteconomics.com\/Public\/Release\/ReleaseDates\">Thursday<\/a>.<\/p><p><strong>THE BIG STORIES ABROAD-<\/strong><\/p><p><strong>The threat of armed conflict in Ukraine<\/strong> continues to capture the attention of the world\u2019s media as we start this new week. Among the latest developments:<\/p><ul>\n<li><strong>Britain goes for big-gun diplomacy:<\/strong> The UK is considering sending the biggest possible support package under NATO to defend Ukraine against a possible Russian attack, <a href=\"https:\/\/www.reuters.com\/world\/uk\/britain-considering-major-nato-deployment-amid-ukraine-crisis-2022-01-29\/\">Reuters<\/a> reports. Boris Johnson said a mass deployment that would double troop numbers and include arms could be on the cards, ahead of his visit to the region later this week.<\/li>\n<li><strong>US and UK intelligence officials believe a Russian strike is imminent<\/strong> \u2014 but the Ukrainian government refuses to be alarmed, with officials dismissing reports that Russia is ready to invade as \u201cpsychological warfare,\u201d according to the <a href=\"https:\/\/www.ft.com\/content\/7718e11d-ca4c-4e6c-91b6-487a4cf84ab9\">Financial Times<\/a>, the <a href=\"https:\/\/www.washingtonpost.com\/national-security\/2022\/01\/29\/us-allies-debate-intelligence-how-quickly-putin-will-order-an-invasion-ukraine-or-whether-he-will-all\/\">Washington Post<\/a>, and the <a href=\"https:\/\/www.nytimes.com\/2022\/01\/28\/world\/europe\/biden-ukraine-russia-diplomacy.html\">New York Times<\/a>.<\/li>\n<li><strong>Sanctions the Biden administration has threatened to deploy <\/strong>if Russia does invade Ukraine could bring the Russian economy to its knees \u2014 but could easily backfire on the US, the <a href=\"https:\/\/www.nytimes.com\/2022\/01\/29\/us\/politics\/russia-sanctions-economy.html\">New York Times<\/a> reports.<\/li>\n<\/ul><p><strong>The brief reprieve from Erdonomics may have been just that:<\/strong> Turkish President Recep Tayyip Erdogan vowed to continue cutting interest rates on Saturday, claiming that lower inflation will follow, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-29\/turkey-s-erdogan-vows-to-continue-lowering-interest-rates?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> reports. His comments come after the country\u2019s central bank <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e1f23f9-012d-4116-a346-e031da9e9ee5\">left interest rates on hold<\/a> at its latest meeting, leading to hopes that Erdogan\u2019s widely derided policy of severe rate cuts meant to bring down inflation \u2014 which has seen the TRY plunge and prices soar to a 19-year high in the country \u2014 had been put on pause. Also on Saturday, it was announced that Erdogan had replaced the head of the country\u2019s national statistics institute, following reports of tension over inflation data, the <a href=\"https:\/\/www.ft.com\/content\/8ea4f3ea-cdbf-45ff-b4f1-d77451109453\">Financial Times<\/a> reports.<\/p><p><strong>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p><p><strong>AFCON-<\/strong><strong> Egypt face Morocco in Afcon quarter-final clash:<\/strong> The Pharaohs face their biggest test of Afcon yet when they meet their North African rivals in tonight\u2019s quarter-final. The team booked its place in the last eight on Wednesday by inching past Ivory Coast via a penalty shoot-out after a goalless draw. The game saw Egypt continue its run of unconvincing performances, with a mis-firing front line that has only netted twice this tournament but a stable defense that has now kept clean sheets for three consecutive games. The victors of tonight\u2019s match will face hosts Cameroon\u2014 who last night knocked Gambia out of the tournament with a 2-0 victory \u2014 in Wednesday\u2019s semi-final.<\/p><p><strong>Kick off:<\/strong> 5:00pm.<\/p><p><strong>Tonight\u2019s match could also decide the fate of Al Ahly: <\/strong>The club could be forced to play their first fixture in FIFA\u2019s Club World Cup in the UAE on 5 February without six of the team\u2019s best players, who will be busy playing for the Pharaohs should they advance, Reuters <a href=\"https:\/\/www.reuters.com\/lifestyle\/sports\/egypt-progress-cup-nations-impacts-top-club-2022-01-29\/\">notes<\/a>.<\/p><p><strong>Morocco will finally lift its ban on international flights starting 7 February<\/strong>, the official <a href=\"https:\/\/bit.ly\/3HeeSEi\">Moroccan news agency (MAP)<\/a> reported. The country banned all flights into the country in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c29d95eb-c6b4-4030-827a-e6fa5de4a3e5\">late November<\/a> after the emergence of the omicron variant.<\/p><p><em>Correction 30th January 2022: A previous version of this story incorrectly stated that Egypt \/ Morocco will face Burkina Faso in the semi-finals of Afcon 2021.<\/em><\/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>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>PSA FOR (EARLY STAGE) FOUNDERS- Today is your last chance to apply for the spring <\/strong><strong>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>OPEC+ <\/strong><strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-26\/opec-delegates-expect-to-stick-to-plan-for-modest-output-hike?srnd=premium-middle-east&amp;sref=mmeFTDW1\">will meet<\/a><\/strong><strong> this Wednesday, 2 February: The cartel is expected to agree to another <\/strong><strong>gradual oil production <\/strong><strong>increase, hiking supply by 400k bbl \/ day in March.<\/strong> Planned production increases by the cartel <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0c85b753-c915-4809-a035-491b881b9076\">have so far failed<\/a> to meet the recovery in demand as several member countries struggle to up their output. The tightening of the oil market has pushed prices to a seven-year high this month. <strong>Some analysts say Brent could breach the USD 100 \/ bbl mark this year<\/strong> unless supply is increased.<\/p><p><strong>The Cairo International Book Fair<\/strong> continues today at the <strong>Egypt International Exhibition <\/strong><strong>Center<\/strong>. The event runs through to <strong>7 February<\/strong>.<\/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-inner\"><img data-recalc-dims=\"1\" decoding=\"async\" style=\"display: block;\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/Whats-Next-Vertical-Banner-En-1600-1.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s What\u2019s Next day:<\/strong> We have our weekly deep-dive into what makes and shapes pre-listed companies and startups in Egypt, the UAE and KSA, touching on investment trends, future sector insights and growth journeys.<\/p><p><strong>In today\u2019s issue:<\/strong> We look into so-called superapps: why they are on the rise, how can they accelerate financial inclusion, and what is the Egyptian market like?<\/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\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-poll\/\">Enterprise Poll<\/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\/morocco\/\">Morocco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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data-attachment-id=\"542993\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/central-bank-to-leave-rates-on-hold-despite-fed-tightening\/356-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/356.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"356.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/356.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/356.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542992\" class=\"content-area-description single-story post-542992 post type-post status-publish format-standard has-post-thumbnail hentry category-analyst-poll tag-analyst-poll tag-central-bank-of-egypt tag-economy tag-enterprise-poll tag-enterpriseam tag-inflation tag-interest-rates tag-investment-watch tag-us wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>The Central Bank of Egypt will likely leave interest rates on hold when it meets <\/strong><strong>this Thursday<\/strong> despite forecasts for rising inflation at home and higher interest rates abroad. All eight analysts and economists we polled expect the Monetary Policy Committee to maintain the benchmark rate at 8.25%, telling us that the EGP carry trade won\u2019t face immediate pressure from rising US rates \u2014 and that inflation is unlikely to rise above the central bank\u2019s target range.<\/p>\n<p><strong>The central bank has held interest rates steady for over a year<\/strong>, leaving the overnight deposit rate at 8.25% since making a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5662d281-1e6f-4604-b559-ae1ac16ce3be\">50 bps cut in November 2020<\/a>. The lending rate has remained at 9.25% while the main operation and discount rates are both at 8.75%.<\/p>\n<p><strong>THE GLOBAL BACKGROUND:<\/strong> The Federal Reserve <a href=\"https:\/\/www.reuters.com\/business\/finance\/inflation-fighting-fed-likely-flag-march-interest-rate-hike-2022-01-26\/\">said<\/a> late last Wednesday that it will likely start raising interest rates in March as policymakers try to get a handle on inflation, which has recently risen to highs not seen since the early 1980s. The market is currently pricing in four rate hikes this year, which would be the most aggressive tightening cycle in the US since the mid-2000s, putting pressure on risk assets across the world.<\/p>\n<p><strong>Egypt won\u2019t come under pressure immediately: <\/strong>Egypt\u2019s inflation-adjusted interest rate is the highest in the world and will attract portfolio inflows even as US interest rates start to climb, several analysts tell us. Egypt currently offers a real return of around 4%, which compares favorably to rates in the US and other high-interest rate emerging markets such as Turkey, according to HC Securities\u2019 Monette Doss, who said, \u201cWe believe that Egypt's carry trade remains attractive at the current levels. \u2026 Even though the US Federal Reserve might start increasing interest rates in March, US two-year notes are expected to offer a negative real return of -2.2% \u2026 Turkey offers a real return of 3.8% on our calculations.\u201d<\/p>\n<p><strong>How markets react to the Fed is the wild card:<\/strong> Some analysts expect the central bank could consider raising rates later this year as global rates tick higher. \u201cWith the Fed set to embark on policy tightening, the chances are growing that the central bank will need to hike interest rates later in the year,\u201d James Swanston, MENA economist at Capital Economics, wrote in a note earlier this month.<\/p>\n<p><strong>Inflation could also prompt policymakers to consider a rate hike:<\/strong> \u201cWe see a high probability that the central bank will raise interest rates by 100 bps in 2022. This will depend mostly on the impact of monetary policy in developed countries, and the rise of global commodity prices, especially food, and their ability to influence domestic inflation,\u201d Prime Holding\u2019s Mona Bedeir told us.<\/p>\n<p><strong>Analysts told us that inflation will continue to rise in the coming months<\/strong>, with most forecasting the headline urban rate to average between 7-7.5% during the first six months of 2022 as rising oil and food prices filter through to the local economy. Mohamed Abu Basha, head of macro analysis at EFG Hermes, expects inflation to average 7% through the year. Annual urban inflation rose slightly to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8bb1d8d-f765-4ef6-bccb-73f889b098b1\">5.9% in December<\/a> from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ac88f00a-95ea-4278-ae35-7d265fb003a0\">5.6% the month before<\/a>.<\/p>\n<p><strong>But it\u2019s unlikely to overshoot the central bank\u2019s target range:<\/strong> None of the analysts polled expected inflation to rise significantly above the central bank\u2019s 7% (+\/- 2%) target range.<\/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\/analyst-poll\/\">ANALYST POLL<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-poll\/\">Enterprise Poll<\/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\/interest-rates\/\">interest rates<\/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\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"542994\" 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=\"542994\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/vc-outfit-tlcom-capital-eyes-egypt-plus-aman-taqa-eye-fintech\/\">\r\n                            VC outfit TLcom Capital eyes Egypt. Plus: Aman + Taqa eye fintech                        <\/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\/30\/vc-outfit-tlcom-capital-eyes-egypt-plus-aman-taqa-eye-fintech\/\" 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\/30\/vc-outfit-tlcom-capital-eyes-egypt-plus-aman-taqa-eye-fintech\/')\">\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\/30\/vc-outfit-tlcom-capital-eyes-egypt-plus-aman-taqa-eye-fintech\/\">\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=VC outfit TLcom Capital eyes Egypt. Plus: Aman + Taqa eye fintech&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/vc-outfit-tlcom-capital-eyes-egypt-plus-aman-taqa-eye-fintech\/\">\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\/30\/vc-outfit-tlcom-capital-eyes-egypt-plus-aman-taqa-eye-fintech\/&title=VC outfit TLcom Capital eyes Egypt. Plus: Aman + Taqa eye fintech\">\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=VC+outfit+TLcom+Capital+eyes+Egypt.+Plus%3A+Aman+%2B+Taqa+eye+fintech+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F30%2Fvc-outfit-tlcom-capital-eyes-egypt-plus-aman-taqa-eye-fintech%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\/30\/vc-outfit-tlcom-capital-eyes-egypt-plus-aman-taqa-eye-fintech\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/358.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"542995\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/vc-outfit-tlcom-capital-eyes-egypt-plus-aman-taqa-eye-fintech\/358-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/358.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"358.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/358.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/358.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542994\" class=\"content-area-description single-story post-542994 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-aman-financial-services tag-enterpriseam tag-investment-watch tag-qalaa-holdings tag-raya-holding tag-startups tag-taqa-arabia tag-venture-capital wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Africa-focused VC firm <\/strong><strong><a href=\"https:\/\/tlcomcapital.com\/\">TLcom Capital<\/a><\/strong><strong> plans to enter Egypt<\/strong> with its new fund, which hit a first close of USD 70 mn, <a href=\"https:\/\/techcrunch.com\/2022\/01\/27\/tlcom-capital-targets-150m-for-its-second-fund-to-invest-in-20-african-startups\/?guccounter=1&tpcc=tcplustwitter\">TechCrunch reports<\/a>. The firm, whose portfolio companies are all based in Nigeria or Kenya, is looking to use the fund to branch out to other areas of the continent, with Egypt as one of its prime targets.<\/p>\n<p><strong>TLcom is looking to raise USD 150 mn in the fund\u2019s final close by November<\/strong>, founder and managing partner Maurizio Caio <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-27\/africa-focused-tlcom-eyes-egypt-with-70-million-funding-round?sref=mmeFTDW1\">told Bloomberg<\/a>. It wants to use the fund to add 20 early-stage startups to its portfolio, with individual investments ranging from USD 500k to USD 15 mn.<\/p>\n<p><strong>\u201cWe would really like to get exposure to Egypt<\/strong> in addition to what we have done where we are sitting in Lagos and Kenya \u2026 We see Egyptian entrepreneurs going into sub-Saharan Africa, so we want to get exposure,\u201d Caio said.<\/p>\n<p><strong>What\u2019s TLcom? <\/strong>TLcom is focused on start-ups in fintech, mobility, agriculture, healthcare, education and e-commerce, though Caio told TechCrunch that it is also interested in venturing into <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/519da186-071b-4f5a-8fc4-50544543f384\">Web3.0 (explainer)<\/a>, crypto and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3e978c8f-2d45-4f56-9cc3-ab1116b31e2b\">DeFi (explainer)i<\/a>. The firm\u2019s first fund, the USD 71 mn TIDE Africa Fund, invested in 11 startups from seed to series B stages.<\/p>\n<p><strong>TLcom LPs include<\/strong> <a href=\"https:\/\/www.cdcgroup.com\/en\/\">CDC Group<\/a>, the <a href=\"https:\/\/www.ifc.org\/wps\/wcm\/connect\/corp_ext_content\/ifc_external_corporate_site\/home\">International Finance Corporation<\/a>, and France\u2019s Proparco are among the international partners backing the fund, while local players <a href=\"https:\/\/fbnquest.com\/\">FBN Quest<\/a> and <a href=\"https:\/\/www.sangocapital.com\/\">Sango Capital<\/a> have also committed funds.<\/p>\n<p><strong>IN OTHER INVESTMENT NEWS-<\/strong><\/p>\n<p><strong>Raya Holdin<\/strong><strong>g subsidiary Aman and Qalaa Holdings\u2019 Taqa Arabia are setting up a<\/strong> <strong>fintech company targeting energy consumers<\/strong>, the two companies announced in <a href=\"https:\/\/ent.news\/2022\/1\/AMAN-Holding-TAQA-Arabia-EN.pdf\">a statement (pdf)<\/a> last week. The as-yet unnamed joint venture will be 51% owned by Aman and will provide e-payment services to Taqa customers, increasing the number of Aman branches at Taqa gas stations to 350, <a href=\"https:\/\/bit.ly\/3r9Hqta\">Hapi Journal<\/a> reported, citing Raya Holdings Chairman Medhat Khalil.<\/p>\n<p><strong>The JV is expected to begin operations in 1H2022<\/strong> after it lands the final licenses it needs. An Aman representative told us that Aman will invest EGP 300 mn in the venture over the next three years, but declined to disclose the company\u2019s start-up capital.<\/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\/aman-financial-services\/\">Aman Financial Services<\/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\/qalaa-holdings\/\">Qalaa Holdings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/raya-holding\/\">Raya Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/taqa-arabia\/\">TAQA Arabia<\/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=\"542996\" 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=\"542996\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/were-getting-a-fresh-usd-368-mn-loan-from-the-amf\/\">\r\n                            We\u2019re getting a fresh USD 368 mn loan from the AMF                        <\/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\/30\/were-getting-a-fresh-usd-368-mn-loan-from-the-amf\/\" 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 loan agreement, which was signed last Wednesday, comes as part of the fund\u2019s support for member countries\u2019 \u201creform efforts\u201d and measures taken to \u201cstimulate the economy and provide liquidity in order to contain the negative effects of the virus outbreak.\u201d<\/p>\n<p><strong>The facility comes on the heels of several others geared towards fueling Egypt\u2019s post-covid economic recovery,<\/strong> including two matching USD 360 mn facilities from the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/66e5ef08-beb1-4c85-92c4-ed05d7802694\">Asian Infrastructure Investment Bank (AIIB)<\/a> and the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f884fc7b-c86b-4af4-80f7-385a02aaa39e\">World Bank<\/a> last year. The International Monetary Fund also lent Egypt <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e4b88b68-45c9-4f66-bbba-1e8999ee8f3f\">USD 8 bn<\/a> to help cover a balance of payments shortfall and finance the budget deficit at the pandemic\u2019s outset in 2020.<\/p>\n<p><strong>And it\u2019s not the first time the AMF has lent to us: <\/strong>Egypt last summer received the second tranche of a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5652fd0f-e484-4a11-b3ed-03133bd45a58\">USD 639 mn loan<\/a> from the AMF, which it provided under its Structural Adjustment Facility to help us improve our fiscal position. Including the most recent facility, the AMF has provided Egypt with a total of 15 loans by our count, worth an estimated USD 2.6 bn.<\/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\/arab-monetary-fund\/\">Arab Monetary Fund<\/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\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/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=\"542998\" 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=\"542998\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/catalyst-acquires-25-stake-in-ins-brokerage-oih-exists-pakistani-subsidiary\/\">\r\n                            Catalyst acquires 25% stake in ins. brokerage, OIH exists Pakistani subsidiary                        <\/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\/30\/catalyst-acquires-25-stake-in-ins-brokerage-oih-exists-pakistani-subsidiary\/\" 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\/30\/catalyst-acquires-25-stake-in-ins-brokerage-oih-exists-pakistani-subsidiary\/')\">\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\/30\/catalyst-acquires-25-stake-in-ins-brokerage-oih-exists-pakistani-subsidiary\/\">\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=Catalyst acquires 25% stake in ins. brokerage, OIH exists Pakistani subsidiary&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/catalyst-acquires-25-stake-in-ins-brokerage-oih-exists-pakistani-subsidiary\/\">\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\/30\/catalyst-acquires-25-stake-in-ins-brokerage-oih-exists-pakistani-subsidiary\/&title=Catalyst acquires 25% stake in ins. brokerage, OIH exists Pakistani subsidiary\">\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=Catalyst+acquires+25%25+stake+in+ins.+brokerage%2C+OIH+exists+Pakistani+subsidiary+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F30%2Fcatalyst-acquires-25-stake-in-ins-brokerage-oih-exists-pakistani-subsidiary%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\/30\/catalyst-acquires-25-stake-in-ins-brokerage-oih-exists-pakistani-subsidiary\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542998\" class=\"content-area-description single-story post-542998 post type-post status-publish format-standard hentry category-ma-watch tag-catalyst-partners tag-cit tag-enterpriseam tag-insurance tag-ma-watch tag-orascom-investment-holding tag-pakistan wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Investment firm <\/strong><strong><a href=\"https:\/\/www.catalystpartners-eg.com\/\">Catalyst Partners<\/a><\/strong><strong> has acquired a 25% stake in<\/strong> <strong><a href=\"https:\/\/ppib.net\/\">Public Partners Ins. Brokerage<\/a><\/strong><strong> (PPIB) <\/strong>as part of its plans to expand into ins. services<strong>, <\/strong><a href=\"https:\/\/bit.ly\/3AJIHu1\">Al Borsa<\/a> reports<strong>. <\/strong>The firm did not provide any other information on the value or specifics of the transaction.<\/p>\n<p><strong>The acquisition will see Catalyst Partners offer ins. services alongside<\/strong> the non-bank finance and direct investment it already provides to SMEs and family businesses, while PPIB clients will be offered existing Catalyst services. The two firms are also looking to set up tech infrastructure that would allow PPIB to offer ins. to individuals for the first time.<\/p>\n<p><strong>Just in time for the Ins. Act: <\/strong>The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f367e03e-6de0-4e5c-8a74-8d404b059219\">draft Ins. Act<\/a>, which is currently in discussion by the House of Representatives, would make ins. compulsory for SMEs and freelancers.<\/p>\n<p><strong>ALSO IN M&A- OIH exits Pakistani subsidiary:<\/strong> Orascom Investment Holding (OIH) has sold its 51% stake in its Pakistani internet subsidiary <a href=\"https:\/\/www.tw1.com\/\">Transworld Associates<\/a> (TWA) for USD 35 mn (c. EGP 550 mn), the company announced in <a href=\"https:\/\/ent.news\/2022\/1\/OIH-PRL-260122.pdf\">a disclosure (pdf)<\/a> to the EGX on Tuesday. OIH didn\u2019t disclose the identity of the buyer.<\/p>\n<p><strong>OIH telegraphed this nine months ago:<\/strong> The company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f15cfbf3-d11f-48d7-aa82-0ad156772e57\">announced its intention<\/a> to exit its entire stake in the company in April 2021.<\/p>\n<p><strong>TWA is an internet service provider in Pakistan<\/strong> and owns a 1.3k km subsea cable connecting the country to the UAE and Oman.<\/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\/catalyst-partners\/\">Catalyst Partners<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cit\/\">CIT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/insurance\/\">insurance<\/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-investment-holding\/\">Orascom Investment Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pakistan\/\">Pakistan<\/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=\"542999\" 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=\"542999\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/cira-reports-1q2021-2022-financials\/\">\r\n                            CIRA reports 1Q2021-2022 financials                        <\/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\/30\/cira-reports-1q2021-2022-financials\/\" 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\/30\/cira-reports-1q2021-2022-financials\/')\">\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\/30\/cira-reports-1q2021-2022-financials\/\">\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=CIRA reports 1Q2021-2022 financials&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/cira-reports-1q2021-2022-financials\/\">\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\/30\/cira-reports-1q2021-2022-financials\/&title=CIRA reports 1Q2021-2022 financials\">\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=CIRA+reports+1Q2021-2022+financials+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F30%2Fcira-reports-1q2021-2022-financials%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\/30\/cira-reports-1q2021-2022-financials\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-542999\" class=\"content-area-description single-story post-542999 post type-post status-publish format-standard hentry category-earnings-watch tag-cira-education tag-earnings tag-earnings-watch tag-education tag-enterpriseam tag-mohamed-el-kalla tag-orcas tag-schools 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>CIRA net income down in 1Q2021-2022 on expansions, higher debt costs:<\/strong> Net earnings at <a href=\"https:\/\/cairoinvest-ir.com\/\">private sector education outfit CIRA<\/a> eased 12% to EGP 107.7 mn in the first quarter of their 2021-2022 fiscal year, which ended on November 30, according to the company\u2019s <a href=\"https:\/\/ent.news\/2022\/1\/CIRA-Earnings-1Q22-E-Final.pdf\">latest earnings release (pdf)<\/a>. CIRA attributed the drop in net income to higher costs associated with establishing new institutes, which are yet to impact its top line. It also pointed to a 53% y-o-y increase in debt-related expenses, after the company took out new loans at higher interest rates and saw grace periods on existing loans come to an end.<\/p>\n<p><strong>But revenues are up: <\/strong>The company\u2019s top line rose 16% y-o-y to EGP 430 mn, which it said came on the back of continued expansion in both K-12 and higher education, driving an uptick in enrollment. The solid top line growth came despite challenges \u201cincluding nationwide changes in the admissions process, and regulatory delays associated with the launch of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cb0dd3e2-cae7-4785-9eca-ab407af9472a\">Badr University in Assiut<\/a>,\u201d said CEO Mohamed El Kalla.<\/p>\n<p><strong>CIRA ups its stake in Orcas: <\/strong>CIRA has increased its stake in Egyptian edtech startup <a href=\"https:\/\/www.orcas.io\/\">Orcas<\/a> to 12%, El Kalla said. CIRA\u2019s prior stake in Orcas was not disclosed, though CIRA\u2019s venture capital arm NFX Ventures has participated in two funding rounds for the edtech startup, most recently co-leading a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad8084bb-103d-4a9f-ae73-fdb55323edeb\">USD 2.1 mn pre-series A round<\/a> announced in January.<\/p>\n<p><strong>For the rest of the year:<\/strong> CIRA hopes to begin the enrollment process for Badr University in Assiut in 2022, once it receives its final operational licenses, says El Kalla (the university had been slated to launch this <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e1863748-dba1-4d00-99e1-a909fd6299ad\">February<\/a>). It is also planning to submit for presidential approval its plans for <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/70e4da61-f321-4186-a485-64aff2143837\">New Damietta University<\/a> in partnership with Elsewedy this quarter, and will break ground on <a href=\"https:\/\/enterprise.press\/blackboards\/what-are-technical-colleges-and-what-are-they-doing\/\">Cairo Saxony University<\/a> in partnership with Al Ahly Capital by June.<\/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\/cira-education\/\">CIRA Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-el-kalla\/\">Mohamed El Kalla<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orcas\/\">Orcas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/schools\/\">Schools<\/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=\"543000\" 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=\"543000\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/another-daily-covid-case-record\/\">\r\n                            Another daily covid case record                        <\/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\/30\/another-daily-covid-case-record\/\" 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\/30\/another-daily-covid-case-record\/')\">\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\/30\/another-daily-covid-case-record\/\">\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=Another daily covid case record&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/another-daily-covid-case-record\/\">\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\/30\/another-daily-covid-case-record\/&title=Another daily covid case record\">\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=Another+daily+covid+case+record+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F30%2Fanother-daily-covid-case-record%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\/30\/another-daily-covid-case-record\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543000\" class=\"content-area-description single-story post-543000 post type-post status-publish format-standard hentry category-covid-watch tag-covax tag-covid-19 tag-egyptian-drug-authority tag-enterpriseam tag-merck tag-uk tag-vaccines wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Another day, another record-breaking covid tally: <\/strong>Daily covid cases jumped to 2,018 on Saturday, the Health Ministry <a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/259221989722356\">reported<\/a>, up from <a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/258541039790451\">2,007<\/a> the day before \u2014 marking the fourth straight daily record for new cases. Case numbers have continued to climb since <a href=\"https:\/\/enterprise.press\/am-edition\/#covid-watch\">hitting 1,809 new infections<\/a> last Wednesday, surpassing the previous record of 1,774, set in June 2020, during the first wave of the virus. Egypt has now disclosed a total of 421,478 confirmed cases of covid-19. The ministry also reported 44 new deaths, bringing the country\u2019s total death toll to 22.566.<\/p>\n<p><strong>The current Omicron wave is expected to peak in mid-February<\/strong> before cooling off in early March, manager of Vascera allergy center Amgad El Haddad told Kelma Akhira\u2019s Lamees El Hadidi (<a href=\"https:\/\/www.youtube.com\/watch?v=LHhfdqL0NQw\">watch, runtime: 11:45<\/a>). Ala Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=RbINjVzWmAE\">watch, runtime: 17:06<\/a>) also took note of the spike in case numbers.<\/p>\n<p><strong>The vaccine tally:<\/strong> 25,763,453 people are now fully vaccinated against the virus, while some 11.4 mn people have received only their first shots and 615,876 people have received booster shots.<\/p>\n<p><strong>We received 4 mn covid vaccine doses from the UK <\/strong>as part of the Gavi \/ Covax program on Thursday, British Ambassador to Egypt Gareth Bayley <a href=\"https:\/\/twitter.com\/GarethBayleyUK\/status\/1487008978836013060?cxt=HHwWiICylbWy9aIpAAAA\">said on Friday<\/a>, without specifying the type of jabs donated. Bayley added that the bilateral donation was one of the largest ever made by the UK.<\/p>\n<p><strong>Merck\u2019s antiviral covid-19 pill Molnupiravir will only be administered to the elderly <\/strong><strong>and patients with weak immunity<\/strong>, Health Ministry spokesperson Hossam Abdel Ghaffar told DMC on Thursday (<a href=\"https:\/\/twitter.com\/dmctv\/status\/1486002519184715778\">watch, runtime: 2:53<\/a>). The Egyptian Drug Authority approved Molnupiravir for emergency use in hospitals <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ac5b8d09-b6ce-4c25-b4bb-c2402e5e0a64\">last week<\/a>, paving the way for <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2d4a74ab-e453-4e75-b4be-a1d7035bf8f8\">five local firms<\/a> to begin supplying local hospitals with the medication.<\/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\/merck\/\">Merck<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uk\/\">UK<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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=\"543001\" 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=\"543001\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/us-could-cut-usd-130-mn-in-aid-to-egypt\/\">\r\n                            US could cut USD 130 mn in aid 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\/30\/us-could-cut-usd-130-mn-in-aid-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\/30\/us-could-cut-usd-130-mn-in-aid-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\/30\/us-could-cut-usd-130-mn-in-aid-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=US could cut USD 130 mn in aid to Egypt&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/us-could-cut-usd-130-mn-in-aid-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\/30\/us-could-cut-usd-130-mn-in-aid-to-egypt\/&title=US could cut USD 130 mn in aid 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=US+could+cut+USD+130+mn+in+aid+to+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F30%2Fus-could-cut-usd-130-mn-in-aid-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\/30\/us-could-cut-usd-130-mn-in-aid-to-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/362.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"543002\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/us-could-cut-usd-130-mn-in-aid-to-egypt\/362-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/362.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"362.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/362.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/362.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543001\" class=\"content-area-description single-story post-543001 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-abdelfattah-el-sisi tag-abu-dhabi tag-anthony-blinken tag-bahrain tag-climate-change tag-cop27 tag-diplomacy tag-dubai tag-enterpriseam tag-human-rights tag-joe-biden tag-national-security tag-sameh-shoukry tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The Biden Administration will cancel USD 130 mn in military aid to Egypt<\/strong> if it fails to meet human rights-related conditions by today, US State Department officials said in a call with reporters on Friday, <a href=\"https:\/\/www.reuters.com\/world\/biden-administration-deny-130-mln-military-aid-egypt-sources-2022-01-28\/\">Reuters<\/a> and the <a href=\"https:\/\/apnews.com\/article\/middle-east-africa-egypt-antony-blinken-3a6fdc236095a4a30d0fd819c9ce664e\">Associated Press<\/a> reported.<\/p>\n<p><strong>Background: <\/strong>The aid has been frozen since <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e770dbbc-0d53-45a7-b108-7b6258603033\">September<\/a>, when Secretary of State Antony Blinken approved the annual USD 300 mn tranche to Egypt, but withheld almost half of it on the condition that we address \u201cspecific human-rights related conditions\u201d by the end of January.<\/p>\n<p><strong>No final decision yet:<\/strong> The Madbouly government has \u201cmade notable progress\u201d on the conditions but \u201chas not met them all,\u201d the newswires quote one official as having said. Blinken has not made a final decision, but if there are no major developments by 30 January, the secretary could reallocate the money.<\/p>\n<p><strong>Blinken raised human rights issues on a phone call with Foreign Minister Sameh Shoukry on Thursday<\/strong> according to <a href=\"https:\/\/www.state.gov\/secretary-blinkens-call-with-egyptian-foreign-minister-shoukry-3\/\">a State Department readout<\/a>. \u201cThe United States is committed to strengthening our partnership with Egypt to bolster regional stability and respect for human rights,\u201d Blinken said in a <a href=\"https:\/\/twitter.com\/SecBlinken\/status\/1486910498633306114\">tweet<\/a> following the call.<\/p>\n<p><strong>This is only a fraction of the USD 1.3 bn Egypt has received from the US every year since 2017<\/strong>. While part of the aid comes with rights-related-requirements, the common practice by successive US administrations has been to override these rules and disburse the money regardless.<\/p>\n<p><strong>The US separately gave the green light <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ab50bdc4-147d-49c7-84bf-57bcb8c65d14\">just a few days ago<\/a><\/strong><strong> to a USD 2.5 bn sale of weapons and equipment to Egypt, <\/strong>which will include 12 Super Hercules C-130 transport aircraft and air defense radar systems. Egypt remains a vital ally and Washington is still committed to support it for its \u201clegitimate defense needs,\u201d the unnamed State department officials said, adding that the huge arms sale specifically serves US interests.<\/p>\n<p><strong>IN OTHER DIPLOMACY NEWS: <\/strong><\/p>\n<p><strong>El Sisi attends Egypt-UAE-Bahrain summit:<\/strong> President Abdel Fattah El Sisi discussed regional issues with the leaders of the UAE and Bahrain in Abu Dhabi on Wednesday \u2014 including the recent terror attacks carried out by Houthi militia in the UAE, according to <a href=\"https:\/\/www.wam.ae\/en\/details\/1395303015292\">Emirates News Agency (WAM)<\/a>.<\/p>\n<p><strong>COP27 preparations: <\/strong>Foreign Minister Sameh Shoukry on Thursday attended a virtual meeting of the US-convened <a href=\"https:\/\/www.state.gov\/major-economies-forum-on-energy-and-climate-ministerial\/\">Major Economies Forum on Energy and Climate (MEF)<\/a>, where he joined US Secretary of State Anthony Blinken, UN climate officials, and representatives of dozens of countries to discuss priorities ahead of COP27 in Sharm El Sheikh in November, according to a <a href=\"https:\/\/www.state.gov\/major-economies-forum-on-energy-and-climate-ministerial\/\">foreign ministry statement<\/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\/abdelfattah-el-sisi\/\">Abdelfattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/anthony-blinken\/\">Anthony Blinken<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bahrain\/\">Bahrain<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dubai\/\">Dubai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/joe-biden\/\">Joe Biden<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-security\/\">national security<\/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\/uae\/\">UAE<\/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=\"543003\" 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=\"543003\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/543003\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543003\" class=\"content-area-description single-story post-543003 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\/1600px-V-editions-magazine-AD-scaled.jpeg?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=\"543004\" 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=\"543004\">\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\/30\/last-nights-talk-shows-sall-el-sisi-talk-gerd\/\">\r\n                            Last Night\u2019s Talk Shows: Sall, El Sisi talk GERD                        <\/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\/30\/last-nights-talk-shows-sall-el-sisi-talk-gerd\/\" 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 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href=\"https:\/\/api.whatsapp.com\/send?text=Last+Night%E2%80%99s+Talk+Shows%3A+Sall%2C+El+Sisi+talk+GERD+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F30%2Flast-nights-talk-shows-sall-el-sisi-talk-gerd%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\/30\/last-nights-talk-shows-sall-el-sisi-talk-gerd\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543004\" class=\"content-area-description single-story post-543004 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-abdel-fattah-el-sisi tag-enterpriseam tag-gerd tag-last-nights-talk-shows tag-macky-sall tag-senegal 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>Senegalese President<\/strong> <strong>Macky Sall\u2019s visit and talks with <\/strong><strong>President Abdel Fattah El Sisi <\/strong>dominated the airwaves last night. The two held a face-to-face yesterday, according to an Ittihadiya <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/495213571967376\">statement<\/a>, where they agreed to strengthen coordination on the Grand Ethiopian Renaissance Dam (GERD) situation.<\/p>\n<p><strong>Egypt has been making <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b8b85032-ef14-4b99-b15e-754493e089e3\">overtures<\/a><\/strong><strong> to Senegal to get its support<\/strong> as the country prepares to assume the presidency of the African Union (AU) next month \u2014 especially as Ethiopia has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6b3e7ed6-8881-4995-ae50-fe93f99a84ae\">signaled<\/a> it wants to bring back GERD talks to the AU. Foreign Minister Sameh Shoukry last year <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6b3e7ed6-8881-4995-ae50-fe93f99a84ae\">met with Sall<\/a> as part of a series of diplomatic visits to drum up support from the continent\u2019s leaders for Egypt\u2019s position on the issue.<\/p>\n<p><strong>The pair\u2019s discussion of the GERD crisis<\/strong> ahead of Senegal\u2019s assumption of the African Union\u2019s presidency got coverage from Kelma Akhira (<a href=\"https:\/\/www.youtube.com\/watch?v=WDD5Lnc5wwk\">watch, runtime: 1:55<\/a>; <a href=\"https:\/\/www.youtube.com\/watch?v=pZJIdKsXVnk\">3:16<\/a>), Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=AP2FjPp6o5Y\">watch, runtime: 9:59<\/a>; <a href=\"https:\/\/www.youtube.com\/watch?v=_yZlX6PyVE8\">2:31<\/a>), Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=OINJRiGgJ24\">watch, runtime: 6:21<\/a>) and Ala Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=oTE3KjelqQc\">watch, runtime: 4:45<\/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\/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\/gerd\/\">GERD<\/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\/macky-sall\/\">Macky Sall<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/senegal\/\">Senegal<\/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=\"543005\" 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 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draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-qza53gi\" data-v=\"4\" data-block-id=\"qza53gi\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-qza53gi-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-qza53gi-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 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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=\"543006\">\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\/30\/egypt-in-the-news-a-cut-to-us-military-aid\/\">\r\n                            Egypt in the News: A cut to US military aid?                        <\/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.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/egypt-in-the-news-a-cut-to-us-military-aid\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt in the News: A cut to US military aid?&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/egypt-in-the-news-a-cut-to-us-military-aid\/\">\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\/30\/egypt-in-the-news-a-cut-to-us-military-aid\/&title=Egypt in the News: A cut to US military aid?\">\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+A+cut+to+US+military+aid%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F30%2Fegypt-in-the-news-a-cut-to-us-military-aid%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\/30\/egypt-in-the-news-a-cut-to-us-military-aid\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543006\" class=\"content-area-description single-story post-543006 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-biden-administration tag-diplomacy tag-enterpriseam tag-human-rights tag-national-security tag-us wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Dominating the conversation on Egypt in the international press this morning:<\/strong> The Biden administration\u2019s looming decision to cancel a small amount of Egypt\u2019s military aid if Egypt fails to meet by today certain human rights-related conditions. We have the full story in this morning\u2019s Diplomacy section, above (<a href=\"https:\/\/www.reuters.com\/world\/biden-administration-deny-130-mln-military-aid-egypt-sources-2022-01-28\/\">Reuters<\/a> | <a href=\"https:\/\/apnews.com\/article\/middle-east-africa-egypt-antony-blinken-3a6fdc236095a4a30d0fd819c9ce664e\">AP<\/a> | <a href=\"https:\/\/www.nytimes.com\/2022\/01\/28\/us\/politics\/egypt-us-human-rights.html\">New York Times<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/world\/2022\/01\/28\/egypt-human-rights-military-aid\/\">Washington Post<\/a>). Human rights issues are also getting attention from <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/egypt-reforms-prisons-highlights-rights-moves-critics-call-hollow-2022-01-27\/\">Reuters<\/a>, <a href=\"https:\/\/www.algemeiner.com\/2022\/01\/27\/egyptian-islamic-reformers-still-face-prison-sentences\/\">the Algemeiner<\/a> and <a href=\"https:\/\/www.france24.com\/en\/tv-shows\/the-interview\/20220128-freed-activist-ramy-shaath-says-arbitrary-detentions-on-the-rise-in-egypt\">France24<\/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\/biden-administration\/\">Biden administration<\/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\/human-rights\/\">human rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-security\/\">national security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"543007\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"543008\" 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=\"543008\">\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\/30\/egypts-finance-ministry-to-revisit-real-estate-tax-on-factories\/\">\r\n                            Egypt\u2019s Finance Ministry to revisit real estate tax on factories?                        <\/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\/30\/egypts-finance-ministry-to-revisit-real-estate-tax-on-factories\/\" 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\/30\/egypts-finance-ministry-to-revisit-real-estate-tax-on-factories\/')\">\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\/30\/egypts-finance-ministry-to-revisit-real-estate-tax-on-factories\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt\u2019s Finance Ministry to revisit real estate tax on factories?&url=https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/egypts-finance-ministry-to-revisit-real-estate-tax-on-factories\/\">\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\/30\/egypts-finance-ministry-to-revisit-real-estate-tax-on-factories\/&title=Egypt\u2019s Finance Ministry to revisit real estate tax on factories?\">\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%E2%80%99s+Finance+Ministry+to+revisit+real+estate+tax+on+factories%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F30%2Fegypts-finance-ministry-to-revisit-real-estate-tax-on-factories%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\/30\/egypts-finance-ministry-to-revisit-real-estate-tax-on-factories\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543008\" class=\"content-area-description single-story post-543008 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-commodities tag-customs tag-enterpriseam tag-food tag-nafeza tag-qnb-alahli tag-suez-canal-economic-zone tag-trade tag-wheat wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The Finance Ministry<\/strong> has reportedly pledged to review the real estate tax on factories, <a href=\"https:\/\/bit.ly\/3ocmsrM\">Al<\/a><a href=\"https:\/\/bit.ly\/3ocmsrM\">Borsa<\/a> quotes Egyptian Federation of Investors Association (<strong>EFIA<\/strong>) head Mahram Hilal as saying. Factories have for years been <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6cd58fa0-c48e-4751-b9fe-777df2347fac\">vying<\/a> for an exemption from real estate tax to allow them to pay off high production costs without success, though the government has instead proposed a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/921b11ae-ef47-4406-8e5f-39162c7f8e6c\">reduction in property tax dues<\/a> under a draft bill.<\/p>\n<p><strong>The Suez Canal Economic Zone<\/strong> is looking for ways of <a href=\"https:\/\/sczone.eg\/cooperation-agreement-between-thpa-s-a-and-suez-canal-economic-zone\/\">increasing business ties with Greece\u2019s<\/a><a href=\"https:\/\/sczone.eg\/cooperation-agreement-between-thpa-s-a-and-suez-canal-economic-zone\/\"><\/a><a href=\"https:\/\/sczone.eg\/cooperation-agreement-between-thpa-s-a-and-suez-canal-economic-zone\/\">second-largest port<\/a> after it signed an agreement with the <strong>Thessaloniki Port Authority<\/strong> last week.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li>The <strong>General <\/strong><strong>Authority for Supply Commodities <\/strong><strong><a href=\"https:\/\/www.nasdaq.com\/articles\/egypts-gasc-buys-420000-tonnes-of-wheat-in-tender\">purchased 420k tonnes of wheat<\/a><\/strong> for March delivery in an international tender last week \u2014 <strong>more than 40% of it from conflict-threatened Ukraine<\/strong>, with the rest coming from Russia and Romania.<\/li>\n<li>The <strong>European Bank for Reconstruction and Development<\/strong> is working with <strong>QNB<\/strong><strong> AlAhli<\/strong> and blockchain platform <strong><a href=\"https:\/\/cargox.io\/press-releases\/CargoX-Egypt-MTS-Nafeza-ACI\/\">CargoX<\/a><\/strong> \u2014 of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e9e2f68a-8c99-4750-b736-cbcdd6f65839\">Nafeza<\/a> fame \u2014 to <a href=\"https:\/\/www.ebrd.com\/cs\/Satellite?c=Content&cid=1395303825830&pagename=EBRD%2FContent%2FContentLayout&rendermode=live%3Fsrch-pg\">test out<\/a> digital trade finance network <strong><a href=\"https:\/\/contour.network\/\">Contour<\/a><\/strong> in Egypt.<\/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\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/customs\/\">customs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food\/\">food<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nafeza\/\">Nafeza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qnb-alahli\/\">QNB Alahli<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-economic-zone\/\">Suez Canal Economic Zone<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"543009\" 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=\"543009\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/apple-earnings-carry-us-markets-through-a-rough-patch-qatar-could-issue-green-bonds\/\">\r\n                            Apple earnings carry US markets through a rough patch + Qatar could issue green bonds                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/apple-earnings-carry-us-markets-through-a-rough-patch-qatar-could-issue-green-bonds\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Apple+earnings+carry+US+markets+through+a+rough+patch+%2B+Qatar+could+issue+green+bonds+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F01%2F30%2Fapple-earnings-carry-us-markets-through-a-rough-patch-qatar-could-issue-green-bonds%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/apple-earnings-carry-us-markets-through-a-rough-patch-qatar-could-issue-green-bonds\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543009\" class=\"content-area-description single-story post-543009 post type-post status-publish format-standard hentry category-planet-finance tag-apple tag-climate tag-enterpriseam tag-esg tag-financial-markets tag-green-bonds tag-green-economy tag-ipo-watch tag-lebanon tag-natural-gas-exports tag-natural-gas-imports tag-planet-finance tag-qatar 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-09\"><\/a><strong> US markets claw back losses at the end of an extremely volatile week:<\/strong> The S&amp;P 500 and the Dow Jones rallied on Friday to break their three-week losing streaks, while the tech-heavy Nasdaq rose 3.1%, erasing its losses for the week. A 7% rally in Apple shares on the back of a record earnings report had traders hailing the company as the markets\u2019 savior, the <a href=\"https:\/\/www.wsj.com\/articles\/global-stocks-markets-dow-update-01-28-2022-11643358848?mod=hp_lead_pos1&amp;mod=hp_lead_pos1\">Wall Street Journal<\/a> reports. But it\u2019s not over yet \u2014 expect more turbulence as earnings season rolls on and investors continue to closely track the macro picture \u2014 in particular rising inflation and the US Federal Reserve\u2019s plans for dealing with it through a series of rate hikes starting in March.<\/p><p><strong>Qatar is in early talks <\/strong><strong>with<\/strong><strong> international banks to issue its first sovereign green <\/strong><strong>bond<\/strong>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-25\/qatar-eyes-debut-green-bond-in-latest-gulf-move-to-tap-esg-funds?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg reports<\/a>, citing unnamed sources who say the country could \u201cpotentially raise bns\u201d through the climate-linked securities. The newswire notes that the move could prove controversial given that Qatar\u2019s gas exports make it one of the world\u2019s largest CO2 emitters on a per capita basis.<\/p><p><strong>Lebanon signed agreements on Wednesday to buy up to 250 MW a day of <\/strong><strong>electricity from Jordan via Syria<\/strong> to ease its severe energy crisis, the <a href=\"https:\/\/apnews.com\/article\/business-middle-east-syria-lebanon-world-bank-bbc460af921a872c540fb579114f6705\">Associated Press<\/a> reports. Negotiations to secure World Bank financing for the agreement are underway and expected to conclude within two months, said Lebanese Energy Minister Walid Fayyad.<\/p><p><strong>Lebanon is also due to start <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/93b0334c-09b1-4c2f-8410-fef370fdff6e\">importing Egyptian natural gas<\/a><\/strong> in the coming months via the Arab Gas pipeline that runs through Jordan and Syria, which is being renovated for the plan.<\/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>11,500<\/p>\n<\/td>\n<td>\n<p>-0.4% (YTD: -3.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>12,179<\/p>\n<\/td>\n<td>\n<p>0.0% (YTD: +8.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>8,766<\/p>\n<\/td>\n<td>\n<p>+0.4% (YTD: +3.3%)<\/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>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,220<\/p>\n<\/td>\n<td>\n<p>+1.0% (YTD: +0.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,432<\/p>\n<\/td>\n<td>\n<p>+2.4% (YTD: -7.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,466<\/p>\n<\/td>\n<td>\n<p>-1.2% (YTD: +1.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 90.03<\/p>\n<\/td>\n<td>\n<p>+0.8%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 4.64<\/p>\n<\/td>\n<td>\n<p>+8.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,787<\/p>\n<\/td>\n<td>\n<p>-0.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 38,415<\/p>\n<\/td>\n<td>\n<p>+1.5% (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 0.4% on Wednesday<\/strong> on turnover of EGP 628 mn (44.5% below the 90-day average). Local investors were net buyers. The index is down 3.8% YTD.<\/p><p><strong>In the green: <\/strong>Madinet Nasr Housing (+3.0%), Pioneers Properties (+2.5%) and Egypt Kuwait Holding-EGP (+2.4%).<\/p><p><strong>In the red: <\/strong>MM Group (-5.6%), Orascom Development Egypt (-4.8%) and Fawry (-3.1%).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/apple\/\">Apple<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate\/\">Climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/esg\/\">ESG<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n         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<\/div>\n        <\/div>                    <\/div>\r\n\r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/whatsnext\/why-egypt-and-mea-could-be-fertile-ground-for-super-apps\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/364.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"543011\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/whatsnext\/why-egypt-and-mea-could-be-fertile-ground-for-super-apps\/364-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/364.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"364.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/364.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/364.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-543010\" class=\"content-area-description post-543010 whatsnext type-whatsnext status-publish has-post-thumbnail hentry tag-enterprise-whats-next tag-enterpriseam tag-fawry tag-financial-inclusion tag-fintech tag-gojek tag-grab tag-mnt-halan tag-paypal tag-wechat tag-yalla-super-app wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>Why the Middle East and Africa in general \u2014 and Egypt in specific \u2014 could <\/strong><strong>be fertile ground for <\/strong><strong>super apps: <\/strong>Superapps are all the rage, specifically in Asia, where startups pioneered the idea of a single app that could do \u2026 tons of things, almost all of which involves a payment in one form or another. Instead of using different apps to order food, message a friend, pay your phone bill, transfer money, and order up a car, superapps allow users to do all that from one single platform.<\/p>\n<p><strong>When they get traction, superapps can be huge \u2014 if the experience in Asia is <\/strong><strong>generalizable to the rest of the world. <\/strong>The specific services offered differ from one superapp to the next, but the mix can be powerful when companies get it right. Popular global examples include China\u2019s <a href=\"https:\/\/www.wechat.com\/\">WeChat<\/a> with <a href=\"https:\/\/ent.news\/2022\/1\/Tencent-earnings.pdf\">1.2 bn users<\/a>, Nasdaq-listed <a href=\"https:\/\/www.grab.com\/sg\/\">Grab<\/a> with <a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.grabtaxi.passenger&hl=en&gl=US\">670 mn users<\/a>, and Indonesia\u2019s <a href=\"https:\/\/www.gojek.io\/superapp\">Gojek<\/a> with <a href=\"https:\/\/www.gojek.io\/superapp\">125 mn downloads<\/a>.<\/p>\n<p><strong>Today we look into why superapps are on the rise,<\/strong> what they have to do with financial inclusion, and why MEA, and Egypt specifically, are fertile grounds for them. Superapps pitch themselves as a convenience play to large groups of potential users, but they\u2019re really all about fintech \u2014 an Egypt (and the wider region) is very fertile ground for that.<\/p>\n<p><strong>Superapps are actually really big, hairy fintech <\/strong><strong>plays<\/strong><strong>. <\/strong>Globally, superapps have a very fintech-focused foundation. Need proof? Paypal launched its own superapp back in September, offering a digital wallet, direct deposit, bill payments, peer-to-peer payments, shopping tools, cash-back rewards and crypto capabilities, <a href=\"https:\/\/newsroom.paypal-corp.com\/2021-09-21-PayPal-Introduces-Customers-to-the-Next-Digital-Payments-Era-with-the-New-PayPal-App\">according to a press statement<\/a>. It also includes PayPal Savings, a high yield savings account provided by Synchrony Bank.<\/p>\n<p><strong>For users, this means peace of mind. For founders, it means data: <\/strong>While it is easier for users to have access to services via one single window (or screen), superapps can be \u201csuper-hoovers\u201d for data collection and behavior tracking, which could also result in more earning power for the app. Superapps use their data to \u201cimprove operational processes \u2014 like using social media and transactional data to risk-assess loan applicants, and [...] to better target financial products to customers, at the exact time they need them,\u201d one of the global big four accounting organizations, <a href=\"https:\/\/home.kpmg\/xx\/en\/home\/insights\/2019\/06\/super-app-or-super-disruption.html\">KPMG, writes<\/a>. WeChat, for instance, is used by over 1.2 bn people, majorly in China through its Weixin brand, <a href=\"https:\/\/ent.news\/2022\/1\/Tencent-earnings.pdf\">according to a statement<\/a>, which results in a massive amount of data. The app allows users to do everything from messaging, paying their restaurant bills, and transferring money, to booking transportation tickets.<\/p>\n<p>(SOUND SMART- Weixin is WeChat\u2019s domestic version in China, while the brand WeChat is the international version.)<\/p>\n<p><strong>While the idea of superapps originated in Asia, MEA has seen its own fair share of them <\/strong><strong>over the past years.<\/strong> Dubai-based Careem, <a href=\"https:\/\/enterprise.press\/stories\/2019\/03\/27\/uber-careem-sign-agreement-to-proceed-with-acquisition\/\">which was acquired by Uber in 2020<\/a>, went from being a ride-hailing app to offering grocery delivery and payment services. UAE-based Rizek, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3efeeaed-ae6a-4741-b0dc-80a68fb5c30f\">which launched in Egypt last year<\/a>, offers housekeeping, men\u2019s grooming, packing and moving, pet care, beauty and wellness, healthcare (yes, that includes PCR tests), automotive and maintenance services. You get the idea.<\/p>\n<p><strong>MEA in general is a \u201cfertile land\u201d for the emergence of more superapps. <\/strong>\u201cThe prevalence of low-end mobile phones, as well as high internet costs in the MEA, make superapps an attractive product,\u201d a report on the <a href=\"https:\/\/ent.news\/2022\/1\/ei-mastercard-super_apps-report-v11-1.pdf\">rise of superapps in the region by Economist Impact and Mastercard states<\/a>. Further reasons include the massive MEA population count, which is expected to reach 3.4 bn by 2050, and the need for financial inclusion.<\/p>\n<p><strong>In Egypt, all of the above applies. <\/strong>Smartphone penetration stands at over 53% amongst 15-74-year-olds, according to <a href=\"https:\/\/ent.news\/2022\/1\/Publications_2092021000_ICT_Indicators_Annual_Report_2020_20092021.pdf\">the ICT Ministry\u2019s annual report from September 2021<\/a>. And with a 100+ mn population, about 67% remain unbanked, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8ff882fd-cd11-4ad1-9bd8-c9dc0f4ee0f1\">we reported last year<\/a>, with 45% of payments being cashless, making us the world\u2019s second most banknote-reliant country.<\/p>\n<p><strong>Egypt is already home to three superapps: <\/strong><a href=\"https:\/\/mnt-halan.com\/\">MNT-Halan<\/a>, <a href=\"https:\/\/www.myfawry.com\/MyFawryWeb\/home.jsp\">MyFawry<\/a> and <a href=\"https:\/\/yalla.online\/en\/index.html\">Yalla Super App<\/a>. Let\u2019s meet them before we dive deeper next week into the domestic market:<\/p>\n<p><strong>MNT-Halan- <\/strong>MNT-Halan, which started out as a tuk-tuk and motorcycle ride-hailing app, has morphed into an epicenter of all things fintech and services. Today, it offers BNPL services, a digital wallet, loan applications, bill payments and requesting delivery or a ride. The company is also planning to launch its own payment card soon, founder and CEO Mounir Nakhla tells us. MNT-Halan had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b07d9131-549a-4e31-aba4-b39a6704f6ac\">raised USD 120 mn<\/a> last September from global investors, including Apis Growth Fund II, Development Partners International (DPI), and Lorax Capital Partners, in what we believe is the largest fintech investment round in the region thus far.<\/p>\n<p><strong>#2 MyFawry- <\/strong>E-payments giant Fawry is turning MyFawry into a superapp. This includes being able to issue MyFawry pre-paid cards and host digital accounts. The aim is to expand the superapp to allow customers to pay, invest, save, manage, borrow and shop, CMO of Fawry Wael Wahby tells us. So far, MyFawry offers hundreds of payments and subscription services, discount privileges and the ability to buy gift cards from the different brands in Egypt.<\/p>\n<p><strong>#3 Yalla Super App- <\/strong>A collaboration between fintech startup PaySky, Egypt Post, and Visa, Yalla Super App launched in December, PaySky founder Walid Sadek tells us. PaySky is a payment solutions provider for financial institutions, merchants, enterprises and consumers, founded in 2017. Its newly-launched app aims to provide its services to 1 bn consumers and 1 mn companies and merchants over the next 10 years, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/54c9cb0f-f34f-4065-a474-255b981bf18d\">according to a previous press statement<\/a>.<\/p>\n<p><strong>NEXT WEEK, we\u2019ll dive deeper into the apps, how investors view them, and the challenges they face as they look to grow the market. <\/strong><\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top stories on future trends for the week:<\/strong><\/p>\n<ul>\n<li><strong>Dsquares does not, in fact, want to SPAC:<\/strong> Loyalty services provider Dsquares is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fe2a6b72-c386-4a7f-a860-1d0ba655fa9c\">not<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fe2a6b72-c386-4a7f-a860-1d0ba655fa9c\">looking to create a SPAC<\/a>, founder and CEO Marwan Kenawy told us, denying a report from Al Shorouk we picked up last week.<\/li>\n<li><strong>Chimera closes huge VC fund:<\/strong> Abu Dhabi-based investment firm Chimera Capital has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/36099bf5-54c7-4b68-a205-7c549aee37dc\">closed its second venture capital fund<\/a> at USD 10 bn \u2014 one of the largest-ever VC funds.<\/li>\n<li><strong>2<\/strong><strong>021 was a bumper year for EM VC funding:<\/strong> VC funding in emerging markets <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f953f73-c694-4b90-83d7-c735b7316eae\">more<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f953f73-c694-4b90-83d7-c735b7316eae\">than tripled in 2021<\/a> to USD 6.9 bn, according to a Magnitt report.<\/li>\n<li><strong>VCs <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/43e44221-118a-4291-a76e-ad72e5d336ac\">poured USD 1.4 bn into publishing startups<\/a><\/strong><strong> in the US and Europe last year<\/strong>, doubling their investments from previous years as interest in specialized publications grows.<\/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\/fawry\/\">Fawry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-inclusion\/\">financial inclusion<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gojek\/\">Gojek<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/grab\/\">Grab<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mnt-halan\/\">MNT-Halan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/paypal\/\">PayPal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wechat\/\">WeChat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/yalla-super-app\/\">Yalla Super App<\/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=\"543012\" 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\/30\/543012\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543012\" class=\"content-area-description single-story post-543012 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 \u2013 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 \u2013 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>27 January-7 February (Thursday-Monday): Cairo International Book Fair, Egypt International Exhibition Center.<\/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>2 February (Wednesday): OPEC+ will meet to decide on another 400k oil production increase a day for March.<\/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 \u2013 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 \u2013 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 \u2013 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":542989,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-542988","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"d91eca1a-7124-41c8-a555-a3456ba4d65b","teaser":"","photo_url":"https:\/\/ent.news\/2022\/1\/355.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>Central Bank of Egypt likely to leave rates on hold in first 2022 meeting -Poll - 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\/central-bank-of-egypt-likely-to-leave-rates-on-hold-in-first-2022-meeting-poll\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Central Bank of Egypt likely to leave rates on hold in first 2022 meeting -Poll\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/central-bank-of-egypt-likely-to-leave-rates-on-hold-in-first-2022-meeting-poll\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T20:06:08+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/355.jpg?fit=%2C&ssl=1\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/central-bank-of-egypt-likely-to-leave-rates-on-hold-in-first-2022-meeting-poll\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/central-bank-of-egypt-likely-to-leave-rates-on-hold-in-first-2022-meeting-poll\/\",\"name\":\"Central Bank of Egypt likely to leave rates on hold in first 2022 meeting -Poll - 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