{"id":543426,"date":"2022-02-01T04:01:08","date_gmt":"2022-02-01T04:01:08","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=543426"},"modified":"2025-12-15T20:16:31","modified_gmt":"2025-12-15T20:16:31","slug":"more-on-our-re-entry-to-jpmorgans-em-bond-index","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/more-on-our-re-entry-to-jpmorgans-em-bond-index\/","title":{"rendered":"More on our re-entry to JPMorgan\u2019s EM bond index"},"content":{"rendered":"<section id=\"543428\" 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=\"543428\">\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\/02\/01\/this-morning-a-bad-january-for-stocks-ukraine-crisis-continues\/\">\r\n                            THIS MORNING: A bad January for stocks + Ukraine crisis continues                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/this-morning-a-bad-january-for-stocks-ukraine-crisis-continues\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/this-morning-a-bad-january-for-stocks-ukraine-crisis-continues\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/this-morning-a-bad-january-for-stocks-ukraine-crisis-continues\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=THIS MORNING: A bad January for stocks + Ukraine crisis continues&url=https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/this-morning-a-bad-january-for-stocks-ukraine-crisis-continues\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/this-morning-a-bad-january-for-stocks-ukraine-crisis-continues\/&title=THIS MORNING: A bad January for stocks + Ukraine crisis continues\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=THIS+MORNING%3A+A+bad+January+for+stocks+%2B+Ukraine+crisis+continues+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F02%2F01%2Fthis-morning-a-bad-january-for-stocks-ukraine-crisis-continues%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/this-morning-a-bad-january-for-stocks-ukraine-crisis-continues\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543428\" class=\"content-area-description single-story post-543428 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-enterpriseam tag-financial-markets tag-imf tag-morocco tag-nasdaq tag-opec tag-russia tag-sp-500 tag-ukraine tag-us tag-what-were-tracking-today tag-wheat tag-world-bank wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Welcome to February, wonderful people. <\/strong>It\u2019s a straight shot from here to the end of 1Q and just 60 days until the start of Ramadan, which begins on or about 2 April (that\u2019s a Saturday). We hope all of you FMCG and advertising folks have your plans locked in and that silly season is being good to you.<\/p><p><strong>HAPPENING NOW- The bears are still salivating<\/strong> \u2014 and wondering what\u2019s keeping stocks aloft.<\/p><p><strong>US markets closed out a horrible month with a huge rally:<\/strong> The S&amp;P 500 closed up nearly 2% on Monday while the Nasdaq surged 6.6% over the past two sessions, marking both index\u2019s biggest two-day rallies since 2020, Bloomberg <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-30\/stocks-set-for-cautious-start-on-fed-china-risks-markets-wrap?srnd=premium-middle-east&amp;sref=mmeFTDW1\">reports<\/a>.<\/p><p><strong>But that doesn\u2019t change the fact that it was a terrible January for stocks<\/strong>, with the S&amp;P falling 5.3% over the month, while the tech-heavy Nasdaq notched its worst monthly loss in over three years, down 8.5%. Market-watchers blamed the rocky January on the anticipated Fed tightening.<\/p><p><strong>Oil was another story, posting its biggest January gain in at least three decades<\/strong> as supply continues to outstrip demand. Brent crude, the benchmark outside the US, settled at above USD 91 \/ barrel on Monday, marking a 17% gain for the month. Some analysts see oil at USD 100 \/ barrel this year \u2014 not great for inflation everywhere, and not wonderful for Egypt\u2019s budget projections, either, given we\u2019re a net importer.<\/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> tomorrow \u2014 but isn\u2019t likely to step in on spiraling prices.<\/strong> The cartel is expected to agree to another gradual oil production increase of 400k bbl\/d \u2014 continuing a strategy that <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0c85b753-c915-4809-a035-491b881b9076\">has so far failed<\/a> to meet the recovery in demand as several member countries struggle to up their output.<\/p><p><strong>THE BIG STORY ABROAD-<\/strong><\/p><p><strong>It\u2019s still U<\/strong><strong>kraine<\/strong><strong>: <\/strong>Russia and the US waged a war of words over Russian military buildup at its border with Ukraine at the UN Security Council\u2019s meeting yesterday to discuss the issue. There was plenty of jawing and no action, but the <a href=\"https:\/\/apnews.com\/article\/russia-ukraine-russia-united-states-europe-linda-thomas-greenfield-fc3d700af4518e643ce520ba066a4885\">Associated Press<\/a> reports that Russia sent the US a written response to a proposal from Washington on how to de-escalate the crisis in the hours following.<\/p><p><strong>Whether Russia is in fact willing to turn down the heat remains to be seen<\/strong> \u2014 though Foreign Minister Sergei Lavrov and US Secretary of State Antony Blinken are booked in to chat about it all over the phone today, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-31\/un-security-council-set-to-debate-crisis-ukraine-update?sref=mmeFTDW1\">Bloomberg<\/a> reports. UK Prime Minister Boris Johnson, meanwhile, is getting on a plane to Ukraine. It can hardly be less hospitable than the environment he\u2019s <a href=\"https:\/\/www.nytimes.com\/2022\/01\/31\/world\/europe\/boris-johnson-gray-report.html\">currently facing at home<\/a>. And both the US and the UK are continuing to up their threats of very terrible sanctions for Russia \u2014 and newly, <a href=\"https:\/\/www.reuters.com\/world\/europe\/us-uk-ready-punish-putin-associates-if-russia-invades-ukraine-2022-01-31\/\">its elites<\/a> \u2014 if it does invade its neighbor.<\/p><p><strong>RELEVANT TO US- The threat of war is already driving up global wheat prices<\/strong>, the <a href=\"https:\/\/www.wsj.com\/articles\/russia-ukraine-tensions-drive-global-wheat-prices-higher-11643630790?mod=Searchresults_pos1&amp;page=1\">Wall Street Journal<\/a> reports. The world\u2019s largest wheat importer, Egypt is also<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/30bc9b32-0682-476e-b93c-cd733864721d\">the largest consumer of Ukrainian wheat<\/a>, last year purchasing the equivalent of around 14% of its total wheat consumption from the eastern European country.<\/p><p><strong>ALSO- The rest of the world is rushing to catch up to Egypt as they wonder when it\u2019s okay to cancel covid. <\/strong>Go read the Wall Street Journal\u2019s \u201c<a href=\"https:\/\/www.wsj.com\/articles\/omicron-pushes-health-authorities-toward-learning-to-live-with-covid-19-11643537865\">Omicron pushes health authorities toward learning to live with covid-19<\/a>\u201d and marvel, once again, at how lightly Egypt has gotten off when it comes to pandemic-era lockdowns, restrictions and culture wars.<\/p><p><strong>SIGN OF THE TIMES- <\/strong>The <a href=\"https:\/\/www.wsj.com\/articles\/new-york-times-acquires-wordle-game-11643666507?mod=hp_lead_pos3\">New York Times<\/a> has bought <strong><a href=\"https:\/\/www.powerlanguage.co.uk\/wordle\/\">Wordle<\/a><\/strong>. If you know, you know.<\/p><p><strong>MEANWHILE- <\/strong><strong>RIP, Dr. Johnny Fever. <\/strong>Howard Hesseman, who brought the radio DJ to life on WKRP in Cincinnati and was later beloved by a certain type of neurotic millennial in Head of the Class. He died at age 81. <a href=\"https:\/\/www.nytimes.com\/2022\/01\/30\/arts\/television\/howard-hesseman-dead.html?referringSource=articleShare&amp;utm_source=pocket_mylist\">The New York Times has a nice obit.<\/a><\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>The Central Bank of Egypt will hold its first policy meeting of 2022 on Thursday<\/strong>. All analysts surveyed in our <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a4f0876c-b382-42d3-897f-9972a2721bed\">regular interest rate poll<\/a> expect the CBE to keep rates on hold, as they anticipate our rates continuing to attract portfolio inflows even amid Fed tightening and global inflationary pressures.<\/p><p><strong>January PMI figures for Egypt, Saudi Arabia, and the UAE<\/strong> are also <a href=\"https:\/\/www.markiteconomics.com\/Public\/Release\/ReleaseDates\">due out on Thursday<\/a>.<\/p><p><strong>From our friends at the US embassy: Women can now apply to join <\/strong><strong><a href=\"https:\/\/eg.usembassy.gov\/education-culture\/exchange-opportunities\/\">Fortune Global<\/a><\/strong><strong><a href=\"https:\/\/eg.usembassy.gov\/education-culture\/exchange-opportunities\/\">Women's Mentoring Program<\/a><\/strong> which will take place from 8-28 May 2022. The program aims to bring emerging women leaders from around the world to the US to meet and learn from the Fortune Most Powerful Women community, which includes executive women mentors from companies such as Accenture, Johnson &amp; Johnson, and Aetna. The deadline to apply for the program is 8 February. <strong>You can begin your application by <\/strong><strong><a href=\"https:\/\/usembassycairo.submittable.com\/submit\/1048ec7c-7e08-4d86-b814-f54772c6910b\/2022-fortune-global-womens-mentoring-program-deadline-tuesday-february-8-at\">signing up here<\/a><\/strong><strong>.<\/strong><\/p><p><strong>ALSO- The embassy is now <\/strong><strong><a href=\"https:\/\/eg.usembassy.gov\/cultural-property-agreement-implementation-grant\/\">accepting applications<\/a><\/strong><strong> for Cultural Property Agreement<\/strong><strong> Implementation projects<\/strong> that would help Egypt protect cultural property from looting, theft, and illicit trafficking. The <a href=\"https:\/\/eg.usembassy.gov\/wp-content\/uploads\/sites\/156\/CPAIG-2022-Announcment-RDL-edits.pdf\">guidelines<\/a> state that concept notes should be sent in by this Thursday, 3 February, while shortlisted applicants will need to submit full applications by 4 May. Each project will receive USD 50-100k, with around USD 500k earmarked for the entire program.<\/p><p><strong>The IMF and World Bank\u2019s annual fall meeting this October will take place in <\/strong><strong>Washington DC<\/strong>, with plans for Morocco to host delayed until October 2023 due to \u201ccontinuing uncertainty over the covid-19 pandemic,\u201d the World Bank announced in a <a href=\"https:\/\/www.worldbank.org\/en\/news\/press-release\/2022\/01\/31\/world-bank-group-and-imf-will-hold-2022-annual-meetings-in-washington-dc-and-2023-annual-meetings-will-take-place-in-mor\">statement<\/a>. This marks the second year the Morocco meeting, which was initially set for 2021, has been pushed due to the pandemic. The lenders traditionally hold two consecutive annual meetings in DC, with the third meeting held in another member country.<\/p><p><strong>The Cairo International Book Fair continues today<\/strong> at the Egypt International Exhibition Center. The event runs through to 7 February.<\/p><p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/INFINITY-Top-banner-EN-1600x675-v2-02.png?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p><p><strong>In today\u2019s issue: <\/strong>The EBRD has provided Egypt EUR 1 bn in total funding in 2021 \u2014 with 44% of that going towards green economy projects. We sat down with Heike Harmgart, the EBRD\u2019s managing director for the Southern and Eastern Mediterranean (SEMED) region, where we discussed details of their 2021 funding, their priorities for 2022, and what the bank hopes to see coming out of COP27.<\/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\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/morocco\/\">Morocco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nasdaq\/\">Nasdaq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/opec\/\">OPEC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sp-500\/\">S&amp;P 500<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ukraine\/\">Ukraine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-bank\/\">World Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"543429\" 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             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<\/div>\n<\/div>\n<\/section>\n<section id=\"543430\" 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=\"543430\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/egypt-rejoins-jpmorgan-bond-index\/\">\r\n                            Egypt rejoins JPMorgan bond index                        <\/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 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  <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/egypt-rejoins-jpmorgan-bond-index\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/2.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"543431\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/egypt-rejoins-jpmorgan-bond-index\/2-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/2.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/2.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/2.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543430\" class=\"content-area-description single-story post-543430 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-bonds tag-debt tag-debt-watch tag-emerging-markets tag-enterpriseam tag-interest-rates tag-investment-watch tag-jpmorgan 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>Egypt rejoined J<\/strong><strong>PMorgan\u2019s emerging-market bond index following a decade of <\/strong><strong>absence yesterday<\/strong> in a move that could bring new passive flows into the local debt market. Fourteen EGP bonds worth around USD 26 bn have been added to the JPMorgan GBI-EM Global Diversified Index, giving Egypt a weighting of 1.85%, the Finance Ministry <a href=\"https:\/\/bit.ly\/3s21WuZ\">announced<\/a>. The bonds have an average yield of 14.9% and a maturity of 2.9 years, it said.<\/p>\n<p><strong>That\u2019s not all:<\/strong> The bonds have also been added to the GBI-EM Broad Diversified Index with a 1.47% weighting and the GBI-AGG Diversified Index with a weighting of 0.24%. Egypt has also been added to the investment bank\u2019s green bond index following its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5d1b54d5-5efa-41c9-ac8b-728b105b2ef0\">USD 750 mn issuance in 2020<\/a>.<\/p>\n<p><strong>This isn\u2019t the first time Egypt has been a part of the index<\/strong>, having been kicked off in the wake of the economic turmoil that followed the 25 January Revolution in 2011.<\/p>\n<p><strong>\u201cThis inclusion confirms the confidence of the foreign [investor] community<\/strong> of Egypt\u2019s improved fundamentals \u2026 Egypt is being put on the international radar as an investment destination,\u201d said Finance Minister Mohamed Maait.<\/p>\n<p><strong>A very welcome buffer: <\/strong>The inclusion of Egyptian debt in the index will help to stabilize foreign inflows, Mohamed Abu Basha, EFG Hermes\u2019 chief economist, told us. \u201cThis type of hot money is less volatile than the investments of active fund managers, and may limit the risk of the latter\u2019s exit from emerging markets in the event of a US interest rate hike,\u201d he said.<\/p>\n<p>\u201cForeign flows into Egypt currently amount to about USD 30 bn, while the current relative weight of Egypt on the index is USD 4 bn,\u201d he added.<\/p>\n<p><strong>A key moment:<\/strong> \u201cThe inclusion comes at a very important time because it coincides with the exit of some investors from global emerging markets,\u201d said Radwa El Swaify, head of research at Al Ahly Pharos, who told us that in normal circumstances it could have brought in USD 3-5 bn in inflows.<\/p>\n<p><strong>Some aren\u2019t expecting a flood of new inflows:<\/strong> \u201cWe think that the news is largely priced-in and don\u2019t see [inclusion] as a major trigger,\u201d Naeem Brokerage\u2019s Allen Sandeep told us.<\/p>\n<p><strong>But that might not matter:<\/strong> \u201cOur real yields are way too attractive, even if the Fed raises rates by 1.5 [percentage points] this year,\u201d Sandeep says. Egypt currently offers the highest inflation-adjusted interest rate in the world, helping it to maintain attractiveness as global rates tick up in the coming months. Investors expect at least four quarter-point rate hikes from the Fed this year.<\/p>\n<p><strong>Three years in the making:<\/strong> The Finance Ministry has been talking about rejoining the index <a href=\"https:\/\/enterprise.press\/stories\/2019\/02\/03\/egypt-seeks-inclusion-in-jpmorgan-em-bond-indexes\/\">for the past three years<\/a>. The US investment bank <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2942a7fd-4cca-4286-98b3-5c2d1c99da8a\">placed Egypt on its watchlist<\/a> last April after the country\u2019s debt profile <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a5aae968-5b2f-4ad1-a71b-3fcef02a764d\">met the maturity requirements<\/a> for inclusion.<\/p>\n<p><strong>The next piece of the puzzle: Euroclear.<\/strong> The government now expects to finalize an agreement with the Belgian clearinghouse to clear local debt in Europe <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/11eb3081-75f6-433f-b7b0-62d2c029fe7a\">during the second half of 2022<\/a>. Making Egyptian debt clearable in Europe will make it more accessible to foreign investors, translating into greater portfolio inflows.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Egypt will sell USD 5 bn in foreign currency bonds in <\/strong><strong>FY2022-2023<\/strong>, Vice Minister of Finance Ahmed Kouchouk told <a href=\"https:\/\/www.asharqbusiness.com\/article\/32137\">Bloomberg Asharq<\/a> yesterday. Egypt last took to the international debt markets in September when it sold <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3bac1988-3ad3-472c-94b4-3f1bc54bb126\">USD 3 bn in long-term eurobonds<\/a>.<\/p>\n<p><strong>Issuance of samurai bonds + sukuk could be coming before the end of the fiscal year: <\/strong>Maait said last week that the ministry wants to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/51628974-be35-4f80-bb1a-b37a346a766d\">sell around USD 500 mn in JPY-denominated bonds<\/a> during the first six months of 2022. We\u2019re also expecting the country\u2019s maiden sovereign sukuk sale to take place <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5077feac-9224-4aa4-b97a-dfce2053e7a7\">before the end of the fiscal year<\/a> in June.<\/p>\n<p><strong>Plus another green bond sale:<\/strong> The minister <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/11eb3081-75f6-433f-b7b0-62d2c029fe7a\">said this week<\/a> that it is considering selling another USD 750 mn of green bonds, though the timing of the issuance has not yet been set.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bonds\/\">Bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jpmorgan\/\">JPMorgan<\/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=\"543432\" 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=\"543432\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/govt-ups-2021-2022-growth-forecast-to-6\/\">\r\n                            Gov\u2019t ups 2021-2022 growth forecast to 6%                        <\/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\/02\/01\/govt-ups-2021-2022-growth-forecast-to-6\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/3.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/3.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543432\" class=\"content-area-description single-story post-543432 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam tag-gdp tag-hala-el-said tag-imf tag-planning-ministry 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>Gov\u2019t <\/strong><strong>ups growth forecast: <\/strong>The Planning Ministry has upgraded its FY2021-2022 growth forecast for the Egyptian economy to 6% or more, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b071df06-4687-4696-8505-338934514f9a\">from 5.6%<\/a>, minister Hala El Said told <a href=\"https:\/\/www.asharqbusiness.com\/article\/32141\">Bloomberg Asharq<\/a> yesterday.<\/p>\n<p><strong>This would be almost double last year\u2019s growth:<\/strong> The economy grew 3.3% during FY 2020-2021, according to official figures.<\/p>\n<p><strong>The forecast is more optimistic than other estimates:<\/strong> The IMF last week <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4e675696-18e3-408c-91de-5e3665a8d6bf\">revised upwards its 2021-2022 forecast<\/a> to 5.6%, while the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6e5f83be-4912-4f77-aa51-2f7c8d9e4267\">European Bank for Reconstruction and Development<\/a> and the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b25eb2d0-26aa-4dd6-b989-296d562aea36\">World Bank<\/a> \u2014 as well as a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1b0c6a20-69cb-4235-889c-6676c8c707b9\">Reuters poll of economists<\/a> \u2014 predicted during the last quarter that the economy would grow 4.9-5.1% this year.<\/p>\n<p><strong>We still haven\u2019t seen any official GDP data since the tu<\/strong><strong>rn of the fiscal year in Jul<\/strong><strong>y<\/strong>, though El Said yesterday signaled that growth likely surpassed the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/346bda71-d9f0-42ee-b29d-1a13546e3181\">6-7% forecast for 2Q2021<\/a> in an interview with CNBC Arabia (<a href=\"https:\/\/www.cnbcarabia.com\/news\/view\/93457\">watch, runtime: 5:15<\/a>). Preliminary figures released last year suggest the economy grew by <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ac19890f-00ac-42c9-97b8-ecfccc2d8e99\">9.8% in 1Q<\/a> \u2014 its quickest pace in two decades \u2014 thanks to a favorable base effect.<\/p>\n<p><strong>Unemployment levels for 4Q2021 are not expected to rise above the <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cee8e34b-3a2e-47cb-b007-bf90ced58d91\">7.5% posted in 3Q2021<\/a><\/strong>, considering the number of jobs currently available, El Said also noted.<\/p>\n<p><strong>New growth figures to land in February: <\/strong>\u201cWe would like to assure everyone that the growth figures for the current quarter are better than expectations and we will announce the figures in mid-February,\u201d El Said told the news website, without elaborating.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hala-el-said\/\">Hala El Said<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planning-ministry\/\">Planning Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"543434\" 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=\"543434\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/ezdehar-reaches-usd-168-mn-first-close-of-emf-ii-fund\/\">\r\n                            Ezdehar reaches USD 168 mn first close of EMF II fund                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/ezdehar-reaches-usd-168-mn-first-close-of-emf-ii-fund\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/ezdehar-reaches-usd-168-mn-first-close-of-emf-ii-fund\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/ezdehar-reaches-usd-168-mn-first-close-of-emf-ii-fund\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Ezdehar reaches USD 168 mn first close of EMF II fund&url=https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/ezdehar-reaches-usd-168-mn-first-close-of-emf-ii-fund\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/ezdehar-reaches-usd-168-mn-first-close-of-emf-ii-fund\/&title=Ezdehar reaches USD 168 mn first close of EMF II fund\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Ezdehar+reaches+USD+168+mn+first+close+of+EMF+II+fund+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F02%2F01%2Fezdehar-reaches-usd-168-mn-first-close-of-emf-ii-fund%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/ezdehar-reaches-usd-168-mn-first-close-of-emf-ii-fund\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/4.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"543435\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/ezdehar-reaches-usd-168-mn-first-close-of-emf-ii-fund\/4-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/4.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"4.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/4.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/4.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543434\" class=\"content-area-description single-story post-543434 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-egyptian-american-enterprise-fund tag-enterpriseam tag-european-investment-bank tag-ezdehar tag-fmo tag-international-finance-corporation tag-investment-watch tag-private-equity wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Ezdehar reaches USD 168 mn first close of EMF II fund: <\/strong>Private equity firm Ezdehar Management has reached the first close of its Mid-Cap Fund II (EMF II), overshooting its USD 100-120 mn target to book commitments totalling USD 168 mn, the firm announced in <a href=\"https:\/\/ent.news\/2022\/1\/Ezdehar-Mid-Cap-Fund-II-Press-Release.pdf\">a statement (pdf)<\/a> yesterday evening. The close means that Ezdehar now has more than USD 250 mn in assets under management between its two funds, making it one of the largest Egypt-focused fund managers.<\/p>\n<p><strong>About the fund:<\/strong> Ezdehar plans to deploy the capital by purchasing majority and minority stakes in <a href=\"https:\/\/disclosures.ifc.org\/project-detail\/SII\/45422\/ezdehar-mid-cap-fund-ii-cooperatief-u-a-\">6-8 small to mid-cap companies<\/a> with an individual ticket size of USD 5-30 mn. It will target companies in growth sectors such as consumer and retail, business services, education, healthcare, and manufacturing. Pharma and F&B firms are also on the list, Ezdehar founder and Managing Director Emad Barsoum previously <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6aaf6191-3c75-47d3-9122-e8ac39f0256f\">told us<\/a>.<\/p>\n<p><strong>The IFC is the latest LP to announce a commitment, <\/strong><a href=\"https:\/\/pressroom.ifc.org\/all\/pages\/PressDetail.aspx?ID=26801\">saying<\/a> that it had invested USD 20 mn in the fund.<\/p>\n<p><strong>It joins a number of other development finance institutions:<\/strong> The <a href=\"https:\/\/www.ebrd.com\/work-with-us\/projects\/psd\/52696.html\">European Bank for Reconstruction and Development<\/a> has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5f8af439-50c0-4ce8-b50d-0124346bc02f\">contributed USD 25 mn<\/a>, the UK\u2019s CDC is in with USD 25 mn, the <a href=\"https:\/\/www.eib.org\/en\/projects\/pipelines\/all\/20210154\">European Investment Bank<\/a> has provided USD 15 mn, and Dutch development bank <a href=\"https:\/\/www.fmo.nl\/project-detail\/60322\">FMO<\/a> has provided USD 20 mn. The Belgian Investment Company for Developing Countries (BIO) and the Egyptian-American Enterprise Fund have also made undisclosed commitments to the fund, Ezdehar said.<\/p>\n<p><strong>What they said:<\/strong> \u201cWith this fund, Ezdehar was able to significantly expand its investor base to include a unique set of reputable regional and global institutions,\u201d said Emad Barsoum, Ezdehar's founder and managing director.<\/p>\n<p><strong>What\u2019s next:<\/strong> Ezdehar expects to reach a final close of USD 180 mn by the end of 2022, it said in the statement.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-american-enterprise-fund\/\">Egyptian American Enterprise Fund<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/european-investment-bank\/\">European Investment Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ezdehar\/\">Ezdehar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fmo\/\">FMO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/international-finance-corporation\/\">International Finance Corporation<\/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\/private-equity\/\">private equity<\/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=\"543436\" 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=\"543436\">\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\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/taqa-arabia-eyes-2023-egx-debut\/\">\r\n                            Taqa Arabia eyes 2023 EGX debut                        <\/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\/02\/01\/taqa-arabia-eyes-2023-egx-debut\/\" 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\/02\/01\/taqa-arabia-eyes-2023-egx-debut\/')\">\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\/02\/01\/taqa-arabia-eyes-2023-egx-debut\/\">\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=Taqa Arabia eyes 2023 EGX debut&url=https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/taqa-arabia-eyes-2023-egx-debut\/\">\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\/02\/01\/taqa-arabia-eyes-2023-egx-debut\/&title=Taqa Arabia eyes 2023 EGX debut\">\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=Taqa+Arabia+eyes+2023+EGX+debut+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F02%2F01%2Ftaqa-arabia-eyes-2023-egx-debut%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\/02\/01\/taqa-arabia-eyes-2023-egx-debut\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/5.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"543437\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/taqa-arabia-eyes-2023-egx-debut\/5-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/5.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"5.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/5.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/5.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543436\" class=\"content-area-description single-story post-543436 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-egx tag-energy tag-enterpriseam tag-ipo-watch tag-pakinam-kafafi tag-qalaa-holdings tag-taqa-arabia 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>Qalaa Holdings\u2019 Taqa Arabia is looking to make its EGX debut next year<\/strong>, <a href=\"https:\/\/bit.ly\/3Ha9m5H\">Al<\/a><a href=\"https:\/\/bit.ly\/3Ha9m5H\">Mal<\/a> quoted CEO Pakinam Kafafi as saying. She didn\u2019t provide details about the potential offering, saying only that it will depend on market conditions.<\/p>\n<p><strong>Taqa Arabia was <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/70d5ed14-509a-4f44-a084-c72a5e41346a\">initially planning to IPO back in 2020<\/a><\/strong>, before its plans were derailed by covid. Qalaa had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4a06003a-fb7d-4497-88e2-b51769b5b617\">reportedly planned<\/a> to list 30-40% of its portfolio company in the first half of 2020. The company had reached a valuation and wrapped up all procedures for the sale prior to the pandemic, but now has to conduct a new fair value study and revisit the size of the stake to list on the EGX.<\/p>\n<p><strong>Advisors:<\/strong> EFG Hermes and HSBC \u2014 which were originally tapped by Qalaa to manage the IPO back in 2020 \u2014 could still advise on the offering, according to Kafafi.<\/p>\n<p><strong>Taqa Arabia wasn\u2019t the only Qalaa subsidiary with an IPO on its horizon:<\/strong> Qalaa had planned to list the parent company of its Egyptian Refining Company (ERC) in 4Q2020, with bulge-bracket fixtures JPMorgan, Citigroup and Goldman Sachs vying for the mandate alongside EFG Hermes, HSBC and Renaissance Capital. That was before the pandemic upended the global economy and the collapse of oil prices into negative territory. ERC\u2019s earning ability is tightly linked to global oil prices.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pakinam-kafafi\/\">Pakinam Kafafi<\/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\/taqa-arabia\/\">TAQA Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"543438\" 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=\"543438\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/543438\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543438\" class=\"content-area-description single-story post-543438 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/whatsnext.enterprise.press\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/New-Banners-English-v2_1600-text-1.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"543439\" 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=\"543439\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/brimore-secures-usd-25-mn-in-series-a-funding\/\">\r\n                            Brimore secures USD 25 mn in series A funding                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/brimore-secures-usd-25-mn-in-series-a-funding\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/brimore-secures-usd-25-mn-in-series-a-funding\/')\">\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\/02\/01\/brimore-secures-usd-25-mn-in-series-a-funding\/\">\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=Brimore secures USD 25 mn in series A funding&url=https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/brimore-secures-usd-25-mn-in-series-a-funding\/\">\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\/02\/01\/brimore-secures-usd-25-mn-in-series-a-funding\/&title=Brimore secures USD 25 mn in series A funding\">\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=Brimore+secures+USD+25+mn+in+series+A+funding+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F02%2F01%2Fbrimore-secures-usd-25-mn-in-series-a-funding%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\/02\/01\/brimore-secures-usd-25-mn-in-series-a-funding\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/6.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"543440\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/brimore-secures-usd-25-mn-in-series-a-funding\/6-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/6.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"6.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/6.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/6.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543439\" class=\"content-area-description single-story post-543439 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-algebra-ventures tag-brimore tag-e-commerce tag-endure-capital tag-enterpriseam tag-international-finance-corporation tag-startup-watch tag-startups wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Social commerce startup <\/strong><strong><a href=\"https:\/\/brimore.com\/\">Brimore<\/a><\/strong><strong> has raised USD 25 mn in series A funding<\/strong>, the company announced in <a href=\"https:\/\/ent.news\/2022\/1\/Brimore-Series-A-Announcement-EN.pdf\">a statement (pdf)<\/a> yesterday. The round was led by the International Finance Corporation and Silicon Valley VC <a href=\"https:\/\/endurecap.com\/\">Endure Capital<\/a>, and featured participation <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fd27902a-6c92-4421-ad44-2a3d1b0a4551\">from Fawry<\/a>, <a href=\"https:\/\/flourishventures.com\/\">Flourish<\/a>, and <a href=\"https:\/\/endeavor.org\/catalyst\/\">Endeavor Catalyst Fund<\/a>, as well as existing investors such as <a href=\"https:\/\/www.algebraventures.com\/\">Algebra Ventures<\/a>, <a href=\"https:\/\/www.disruptechventures.com\/\">Disruptech<\/a>, <a href=\"https:\/\/www.khwarizmivc.com\/\">Khawarizmi Ventures<\/a> and <a href=\"https:\/\/visionvc.co\/\">Vision Ventures<\/a>.<\/p>\n<p><strong>About the company:<\/strong> Launched in 2019, Brimore is a social distribution network that allows SME manufacturers to sell fast moving consumer goods via a network of freelance distributors, who sell to customers in their local communities. The company has built a network of almost 75k resellers in 27 cities across Egypt in the three years since its founding, and lists some 8k products.<\/p>\n<p><strong>Expansion plans:<\/strong> Brimore says it will use the funding to quadruple its network of sellers and suppliers and double the size of its team. It is also aiming to enter two new African markets by 2023, the statement said, without providing specifics. \u201cIn the past three years, we\u2019ve focused on building a smart and reliable infrastructure that enables the masses to do their commerce businesses,\u201d said Mohamed Abdelaziz, CEO and co-founder of Brimore. \u201cWe\u2019ll be using the fresh fund to scale our infrastructure, enabling many more people to continue their journey of 50x growth by 2023.\u201d<\/p>\n<p><strong>The investment comes less than two years after the company <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/66f9d72d-beec-475f-8868-41270e5b6a6d\">raised USD 3.5 mn<\/a><\/strong><strong> in a pre-series A round<\/strong> led by Algebra Ventures. Algebra has backed the startup from the beginning, co-leading its initial <a href=\"https:\/\/enterprise.press\/stories\/2019\/04\/02\/algebra-ventures-co-leads-usd-800k-seed-funding-round-for-brimore\/\">USD 800k seed round<\/a> in 2019. \u201cWe came in on the first round of investment and invested in every subsequent round, to ensure that the growth momentum stays on track,\u201d said Algebra managing partner Tarek Assaad. \u201cAs Brimore experienced explosive growth over the past three years, Algebra has worked closely with the company to support in strategic and operational areas, especially recruitment.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/algebra-ventures\/\">Algebra Ventures<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/brimore\/\">Brimore<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-commerce\/\">e-commerce<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/endure-capital\/\">Endure Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/international-finance-corporation\/\">International Finance Corporation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"543441\" 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=\"543441\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/vat-changes-are-official-as-el-sisi-signs-four-bills-into-law\/\">\r\n                            VAT changes are official as El Sisi signs four bills into law                        <\/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\/02\/01\/vat-changes-are-official-as-el-sisi-signs-four-bills-into-law\/\" 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\/02\/01\/vat-changes-are-official-as-el-sisi-signs-four-bills-into-law\/')\">\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\/02\/01\/vat-changes-are-official-as-el-sisi-signs-four-bills-into-law\/\">\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=VAT changes are official as El Sisi signs four bills into law&url=https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/vat-changes-are-official-as-el-sisi-signs-four-bills-into-law\/\">\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\/02\/01\/vat-changes-are-official-as-el-sisi-signs-four-bills-into-law\/&title=VAT changes are official as El Sisi signs four bills into law\">\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=VAT+changes+are+official+as+El+Sisi+signs+four+bills+into+law+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F02%2F01%2Fvat-changes-are-official-as-el-sisi-signs-four-bills-into-law%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\/02\/01\/vat-changes-are-official-as-el-sisi-signs-four-bills-into-law\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/7.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"543442\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/vat-changes-are-official-as-el-sisi-signs-four-bills-into-law\/7-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/7.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"7.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/7.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/7.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543441\" class=\"content-area-description single-story post-543441 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-education-act tag-enterpriseam tag-legislation-watch tag-stamp-tax tag-vat 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>President Abdel Fattah El Sisi yesterday ratified amendments to the VAT <\/strong><strong>and the Stamp Tax laws<\/strong> alongside several other pieces of legislation, per an announcement in the <a href=\"https:\/\/ent.news\/2022\/1\/Ratified-laws.pdf\">official gazette (pdf)<\/a><strong>.<\/strong><\/p>\n<p><strong>How are <\/strong><strong>VAT and stamp tax changing? <\/strong>The new legislation changes up the tax treatment for a handful of services and products. Under the amendments, fully-finished \u201cbroadcast\u201d advertisements \u2014 advertisements on TV, radio, outdoor billboards and the interwebs \u2014 will be subject to 14% VAT, replacing the 20% stamp tax to which they were previously subject; and stamp tax on most ins. premiums would be raised by 1%. We have more on the amendments to both laws, which were approved by the House of Representatives late last year, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dfc67e37-c933-4e2a-ae7a-c3989d612716\">here<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ec9eebbd-ab12-46d0-935e-536faf688582\">here<\/a>.<\/p>\n<p><strong>More legislation ratified by El Sisi yesterday:<\/strong><\/p>\n<ul>\n<li><strong>A bill<\/strong><strong> that provides for <\/strong><strong>5-15% of the annual surplus generated by ministerial \u201cprivate funds\u201d to be transferred to the state treasury<\/strong>. The bill is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9f049004-ee6e-4195-97fa-1f5e92cad0c3\">expected to generate<\/a> a combined EGP 2.5-3 bn for state revenues, equalling some 7-8% of the annual EGP 36 bn surplus. The legislation, which was first approved in 2018, sunsets each year and requires renewal.<\/li>\n<li><strong>Amendments to some provisions of the law governing public universities<\/strong>, and the law governing the <a href=\"https:\/\/sis.gov.eg\/section\/0\/560?lang=en-us\">Academy of Arts<\/a>.<\/li>\n<\/ul>\n<p><strong>Next steps:<\/strong> The legislation will take effect once the executive regulations are published in the official gazette.<\/p>\n<p><strong>What won\u2019t be seeing the light: <\/strong>The House Education Committee rejected yesterday amendments to the Education Act that would have seen an <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/67c0f365-c3ff-4282-b20c-eeeeb8e8c23b\">EGP 500-1k fine<\/a> imposed on parents whose children miss school without sufficient reason, according to <a href=\"https:\/\/bit.ly\/34jAO2m\">Youm7<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education-act\/\">Education Act<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/stamp-tax\/\">stamp tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vat\/\">VAT<\/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=\"543443\" 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=\"543443\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/543443\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543443\" class=\"content-area-description single-story post-543443 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=\"543444\" 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=\"543444\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/last-nights-talk-shows-our-re-entry-to-the-jpmorgan-em-bond-index-arab-gas-pipeline-timeline\/\">\r\n                            Last Night\u2019s Talk Shows: Our re-entry to the JPMorgan EM bond index + Arab Gas pipeline timeline                        <\/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\/02\/01\/last-nights-talk-shows-our-re-entry-to-the-jpmorgan-em-bond-index-arab-gas-pipeline-timeline\/\" 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 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pipeline timeline&url=https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/last-nights-talk-shows-our-re-entry-to-the-jpmorgan-em-bond-index-arab-gas-pipeline-timeline\/\">\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\/02\/01\/last-nights-talk-shows-our-re-entry-to-the-jpmorgan-em-bond-index-arab-gas-pipeline-timeline\/&title=Last Night\u2019s Talk Shows: Our re-entry to the JPMorgan EM bond index + Arab Gas pipeline timeline\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Last+Night%E2%80%99s+Talk+Shows%3A+Our+re-entry+to+the+JPMorgan+EM+bond+index+%2B+Arab+Gas+pipeline+timeline+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F02%2F01%2Flast-nights-talk-shows-our-re-entry-to-the-jpmorgan-em-bond-index-arab-gas-pipeline-timeline%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\/02\/01\/last-nights-talk-shows-our-re-entry-to-the-jpmorgan-em-bond-index-arab-gas-pipeline-timeline\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543444\" class=\"content-area-description single-story post-543444 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-enterpriseam tag-finance-ministry tag-jpmorgan tag-last-nights-talk-shows tag-lebanon tag-mohamed-maait tag-oil-and-gas tag-oil-ministry tag-tarek-el-molla tag-trade wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Dominating the conversation on the airwaves last night: <\/strong>Our re-inclusion in JPMorgan\u2019s emerging markets bond index, the benefits of which Finance Minister Mohamed Maait discussed at length in a phone-in with Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=L1UgbGhEcJA\">watch, runtime: 16:46<\/a>). Kelma Akhira\u2019s Lamees El Hadidi (<a href=\"https:\/\/www.youtube.com\/watch?v=5uB2fK16umo\">watch, runtime: 1:31<\/a>; <a href=\"https:\/\/www.youtube.com\/watch?v=5VysvsjipxA\">3:13<\/a>) and Ala Ma\u2019ouleety\u2019s Ahmed Moussa (<a href=\"https:\/\/www.youtube.com\/watch?v=M2FN0Ewsmto\">watch, runtime: 7:10<\/a>; <a href=\"https:\/\/www.youtube.com\/watch?v=eONsLg0MtDM\">4:35<\/a>) also weighed in on the event.<\/p>\n<p><strong>Natural gas exports to Lebanon to begin by March: <\/strong>Oil Minister Tarek El Molla phoned in to Kelma Akhira (<a href=\"https:\/\/www.youtube.com\/watch?v=0GEPS29T4rk\">watch, runtime: 2:48<\/a>) to discuss plans to export <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/93b0334c-09b1-4c2f-8410-fef370fdff6e\">natural gas<\/a> to Lebanon via the Arab Gas pipeline running through Jordan and Syria. The pipeline is expected to be up and running by the end of February or the beginning of March, El Molla said, adding that only paperwork remains to be completed and no further delays are expected. El Molla had previously said that the pipeline would be operational <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a808ab85-a831-4d56-9377-c799e5e29d18\">by the end of last year<\/a>, before <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dfe7607a-1e8a-44f3-b3bd-69a00b463d71\">shifting the kick-off date<\/a> to early this year.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jpmorgan\/\">JPMorgan<\/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\/lebanon\/\">Lebanon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-maait\/\">Mohamed Maait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-ministry\/\">Oil Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tarek-el-molla\/\">Tarek El Molla<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/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=\"543445\" 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        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22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"543446\" 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=\"543446\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/egypt-in-the-news-afcon-shezlong\/\">\r\n                            Egypt in the News: Afcon + Shezlong                        <\/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 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        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/egypt-in-the-news-afcon-shezlong\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543446\" class=\"content-area-description single-story post-543446 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-enterpriseam tag-morocco tag-shezlong tag-sports wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Leading the conversation on Egypt in the foreign press: <\/strong>Egypt\u2019s Afcon victory against Morocco on Sunday got substantial ink, with <a href=\"https:\/\/www.france24.com\/en\/live-news\/20220131-salah-led-egypt-tackle-cameroon-in-third-final-before-final\">France 24<\/a>, <a href=\"https:\/\/theathletic.com\/3101555\/2022\/01\/31\/brawls-goals-and-an-indomitable-desire-to-win-egypt-and-morocco-encapsulated-the-nature-of-their-rivalry\/\">The Athletic<\/a> and <a href=\"https:\/\/www.thenationalnews.com\/mena\/egypt\/2022\/01\/31\/egypt-savours-afcon-quarter-final-win-over-morocco\/\">the National<\/a> all delivering takes.<\/p>\n<p><strong>Also getting attention:<\/strong> Egyptian online therapy startup <a href=\"https:\/\/www.shezlong.com\/en\/\">Shezlong<\/a> is the subject of a <a href=\"https:\/\/www.ft.com\/content\/0d1dd836-1ae4-459a-81b9-4b4a4759821d\">Financial<\/a><a href=\"https:\/\/www.ft.com\/content\/0d1dd836-1ae4-459a-81b9-4b4a4759821d\">Times<\/a> profile that looks at the company\u2019s role in reducing the stigma on mental health and improving access to care across the MENA region.<\/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\/morocco\/\">Morocco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/shezlong\/\">Shezlong<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"543447\" 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=\"543447\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/fawry-sees-400-y-o-y-boom-in-online-payments-in-2021\/\">\r\n                            Fawry sees 400% y\u2013o-y boom in online payments in 2021                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                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src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Fawry+sees+400%25+y%E2%80%93o-y+boom+in+online+payments+in+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F02%2F01%2Ffawry-sees-400-y-o-y-boom-in-online-payments-in-2021%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\/02\/01\/fawry-sees-400-y-o-y-boom-in-online-payments-in-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543447\" class=\"content-area-description single-story post-543447 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-automotive tag-brightskies tag-catalyst-partners tag-edecs tag-egyptera tag-electricity-ministry tag-elsewedy-electric tag-energy tag-engineering-automotive-manufacturing-company tag-enterpriseam tag-evs tag-fawry tag-fintech tag-green-economy tag-logistics tag-renewable-energy tag-renewables tag-south-korea 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> Fawry saw transaction values surge last year:<\/strong> The e-payments giant processed EGP 6 bn worth of cashless POS transactions through its Fawry Accept service in 2021, up 232% y-o-y, and EGP 5 bn worth of online payments, up 400% y-o-y, the company said in <a href=\"https:\/\/ent.news\/2022\/1\/Fawry-tops-the-Acceptance-Segment-through-its-comprehensive-Fawry-Accept-Solutions-Bundle.pdf\">a statement (pdf)<\/a> this week. The country\u2019s biggest e-payments provider is eyeing further expansion, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b39b1b1b-5efa-4e74-a05e-e910d41454a2\">recently announcing<\/a> a planned EGP 800 mn capital increase to help launch its pre-paid cards as it seeks to turn MyFawry into a super-app, as well as a potential US listing. It also launched the region\u2019s first <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f46074c4-e6d1-4dcb-83e1-b76e834652ca\">fintech-distributed money market fund<\/a> in partnership with Misr Capital a few weeks back.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li>Investment firm <strong>Catalyst Partners <\/strong><strong><a href=\"https:\/\/bit.ly\/348cHUt\">is looking to<\/a><\/strong>establish subsidiaries in the <strong>UAE, Saudi Arabia <\/strong><strong>and <\/strong><strong>Morocco<\/strong> this year, following recent moves to expand into <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b47597a0-70d6-4847-8152-a200afcf370b\">logistics<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/062c2c8a-8348-4ce3-a404-80c364835c35\">ins. services<\/a>.<\/li>\n<li><strong>El Sewedy Electric for Trading and Distribution<\/strong> has signed <a href=\"https:\/\/ent.news\/2022\/1\/%D8%A7%D9%84%D8%B3%D9%88%D9%8A%D8%AF%D9%89-%D8%A7%D9%86%D8%AC%D9%84%D9%8A%D8%B2%D9%89-31-01-2022.pdf\">an<\/a><strong><a href=\"https:\/\/ent.news\/2022\/1\/%D8%A7%D9%84%D8%B3%D9%88%D9%8A%D8%AF%D9%89-%D8%A7%D9%86%D8%AC%D9%84%D9%8A%D8%B2%D9%89-31-01-2022.pdf\">EGP 615 mn<\/a><\/strong><strong><a href=\"https:\/\/ent.news\/2022\/1\/%D8%A7%D9%84%D8%B3%D9%88%D9%8A%D8%AF%D9%89-%D8%A7%D9%86%D8%AC%D9%84%D9%8A%D8%B2%D9%89-31-01-2022.pdf\">contract<\/a><\/strong><a href=\"https:\/\/ent.news\/2022\/1\/%D8%A7%D9%84%D8%B3%D9%88%D9%8A%D8%AF%D9%89-%D8%A7%D9%86%D8%AC%D9%84%D9%8A%D8%B2%D9%89-31-01-2022.pdf\">(pdf)<\/a> with construction firm <strong><a href=\"https:\/\/www.edecs.com\/\">EDECS<\/a><\/strong> to complete network and infrastructure work at <strong>Alexandria Port. <\/strong><\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/brightskies\/\">Brightskies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/edecs\/\">EDECS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptera\/\">Egyptera<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity-ministry\/\">Electricity Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/elsewedy-electric\/\">Elsewedy Electric<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/engineering-automotive-manufacturing-company\/\">Engineering Automotive Manufacturing Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fawry\/\">Fawry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-economy\/\">Green Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewable-energy\/\">renewable energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/south-korea\/\">South Korea<\/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=\"543448\" 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=\"543448\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/another-daily-covid-case-record-our-first-batch-of-evusheld-has-arrived\/\">\r\n                            Another daily covid case record + our first batch of Evusheld has arrived                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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            <!-- <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 + our first batch of Evusheld has arrived&url=https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/another-daily-covid-case-record-our-first-batch-of-evusheld-has-arrived\/\">\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\/02\/01\/another-daily-covid-case-record-our-first-batch-of-evusheld-has-arrived\/&title=Another daily covid case record + our first batch of Evusheld has arrived\">\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+%2B+our+first+batch+of+Evusheld+has+arrived+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F02%2F01%2Fanother-daily-covid-case-record-our-first-batch-of-evusheld-has-arrived%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\/02\/01\/another-daily-covid-case-record-our-first-batch-of-evusheld-has-arrived\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543448\" class=\"content-area-description single-story post-543448 post type-post status-publish format-standard hentry category-covid-watch tag-astrazeneca tag-covid-19 tag-enterpriseam tag-merck tag-pfizer wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Yet another record daily tally: <\/strong>The Health Ministry <a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/260601299584425\">reported<\/a> 2,223 new covid-19 infections yesterday, up from 2,210 the day before \u2014 a sixth consecutive record high as the omicron wave continues. Egypt has now disclosed a total of 425,911 confirmed cases of covid-19. The ministry also reported 31 new deaths, bringing the country\u2019s total death toll to 22,635.<\/p>\n<p><strong>Remember: Cases aren\u2019t expected to peak until at least the middle of this month<\/strong>, according to the head of Vacsera\u2019s allergy center.<\/p>\n<p><strong>The vaccine tally: <\/strong>26,138,418 people are now fully vaccinated against the virus, while some 11.3 mn people have received only their first shots and 620,004 people have received booster shots.<\/p>\n<p><strong>The government is aiming to have vaccinated<\/strong> <strong>70% of the population by the start o<\/strong><strong>f 2H2022, <\/strong><a href=\"https:\/\/bit.ly\/3s3Y4cQ\">Youm7<\/a> quoted health ministry spokesperson Hossam Abdel Ghaffar as saying. The country has so far inoculated 42% of people in targeted groups, he added. Around <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d57656de-bef7-47b4-a706-4a143d39ec53\">60 mn people<\/a> are eligible for vaccination.<\/p>\n<p><strong>We\u2019ve received our first batch of <\/strong><strong>Evusheld<\/strong><strong> doses: <\/strong>15k doses of AstraZeneca\u2019s preventative antibody cocktail for the immunocompromised, Evusheld, arrived at Cairo International Airport on Saturday, the company announced in a <a href=\"https:\/\/ent.news\/2022\/1\/PRL_Evusheld_Egypt_-Shipment_31Jan_Eng.pdf\">press release (pdf)<\/a>. This makes Egypt the first country in Africa and the fourth worldwide to receive the med, according to the release. A total of 50k doses are expected to arrive this year, with more deliveries set to come in the next few weeks.<\/p>\n<p><strong>Where\u2019s our Paxlovid?<\/strong> We were also expecting a shipment of Pfizer\u2019s covid pill, Paxlovid, sometime in January, after we signed an <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e036ca10-2dc3-4f0c-b458-0bb295046d17\">agreement<\/a> with the pharma giant to provide pills to treat some 20k people, but there\u2019s been no word on those yet. Meanwhile, Merck\u2019s Molnupiravir antiviral covid treatment was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ac5b8d09-b6ce-4c25-b4bb-c2402e5e0a64\">approved for emergency use<\/a> in hospitals last week, paving the way for five local firms 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\/astrazeneca\/\">AstraZeneca<\/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\/merck\/\">Merck<\/a>\n       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href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/the-uaes-days-as-a-corporate-tax-haven-are-coming-to-an-end-sort-of\/\">\r\n                            The UAE\u2019s days as a corporate tax haven are coming to an end (sort of)                        <\/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\/02\/01\/the-uaes-days-as-a-corporate-tax-haven-are-coming-to-an-end-sort-of\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n 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corporate tax haven are coming to an end (sort of)&url=https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/the-uaes-days-as-a-corporate-tax-haven-are-coming-to-an-end-sort-of\/\">\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\/02\/01\/the-uaes-days-as-a-corporate-tax-haven-are-coming-to-an-end-sort-of\/&title=The UAE\u2019s days as a corporate tax haven are coming to an end (sort of)\">\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=The+UAE%E2%80%99s+days+as+a+corporate+tax+haven+are+coming+to+an+end+%28sort+of%29+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F02%2F01%2Fthe-uaes-days-as-a-corporate-tax-haven-are-coming-to-an-end-sort-of%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\/02\/01\/the-uaes-days-as-a-corporate-tax-haven-are-coming-to-an-end-sort-of\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543449\" class=\"content-area-description single-story post-543449 post type-post status-publish format-standard hentry category-planet-finance tag-citigroup tag-enterpriseam tag-financial-markets tag-ipo-watch tag-planet-finance tag-tax tag-tax-avoidance tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>Businesses are going to start paying tax in the UAE for the first time ever next <\/strong><strong>year<\/strong> after the government <a href=\"https:\/\/www.wam.ae\/ar\/details\/1395303016457\">yesterday announced<\/a> it would introduce a federal corporate tax from 1 June, 2023.<\/p><p><strong>It\u2019s not going to be a lot, though:<\/strong> Businesses will pay a 9% tax on profits, one of the lowest corporate tax rates in the world.<\/p><p><strong>And the rest of the zero-tax regime will remain:<\/strong> Companies that do business in freezones will not be subject to the new tax provided they don\u2019t trade with the mainland, and individuals will continue to pay no income tax.<\/p><p><strong>The rationale:<\/strong> The government says it\u2019s introducing a corporate tax to align with international standards and crack down on tax avoidance \u2014 and that the move would pave the way for a different, global rate to be applied to big multinationals. The UAE has signed on to the OECD\u2019s plan to institute a <a href=\"https:\/\/www.oecd.org\/tax\/beps\/\">global minimum corporate tax<\/a> of 15%<\/p><p><strong>Citigroup is hiring as it vies for Gulf listings: <\/strong>Citigroup is increasing its presence in GCC countries ahead of what it predicts will be another record year for IPOs in the region, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-31\/citigroup-is-hiring-across-gulf-awaits-another-record-ipo-year?sref=mmeFTDW1\">Bloomberg<\/a> reports. The bank is boosting its existing Saudi and Dubai offices and \u201cadding resources all across the region,\u201d joining <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7d01bf4a-6376-4e78-9eed-83dd69d1bb7f\">Goldman Sachs<\/a> and others looking to capitalize on strong Gulf IPO pipelines as listings elsewhere drop off.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>11,490<\/p>\n<\/td>\n<td>\n<p>+0.3% (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-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>12,272<\/p>\n<\/td>\n<td>\n<p>+0.1% (YTD: +8.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>8,704<\/p>\n<\/td>\n<td>\n<p>-0.7% (YTD: +2.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,203<\/p>\n<\/td>\n<td>\n<p>-0.5% (YTD: +0.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,516<\/p>\n<\/td>\n<td>\n<p>+1.9% (YTD: -5.3%)<\/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>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,464<\/p>\n<\/td>\n<td>\n<p> -0.0% (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 91.21<\/p>\n<\/td>\n<td>\n<p>+1.3%<\/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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 4.94<\/p>\n<\/td>\n<td>\n<p>+1.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,798<\/p>\n<\/td>\n<td>\n<p>+0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 38,474<\/p>\n<\/td>\n<td>\n<p>+1.3% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 rose 0.3% at yesterday\u2019s close<\/strong> on turnover of EGP 647 mn (41.5% below the 90-day average). Foreign investors were net sellers. The index is down 3.8% YTD.<\/p><p><strong>In the green: <\/strong>TMG Holding (+8.6%), Qalaa Holdings (+5.2%) and Madinet Nasr Holding (+4.0%).<\/p><p><strong>In the red: <\/strong>CIRA (-3.6%), Fawry (-1.8%) and CIB (-1.0%).<\/p><p><strong>Major Asian benchmarks are solidly in the green this morning <\/strong>with just Shanghai slipping into the red. All major European benchmarks look set to follow suit later today. The story is a bit different across the pond, where futures suggest Wall Street will see the S&amp;P, Nasdaq and Dow all open in the red at the opening bell.<\/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\/citigroup\/\">Citigroup<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax-avoidance\/\">tax avoidance<\/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=\"543450\" 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=\"543450\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/biden-names-qatar-a-major-non-nato-ally-to-kick-off-emirs-visit\/\">\r\n                            Biden names Qatar a major non-NATO ally to kick off emir\u2019s visit                        <\/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\/02\/01\/biden-names-qatar-a-major-non-nato-ally-to-kick-off-emirs-visit\/\" 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 move comes as Biden tries to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/314a2761-8189-4c18-b8a1-64a65c934fdf\">secure more natural gas<\/a> supplies from Doha \u2014 which is the world\u2019s second-biggest exporter of liquefied natural gas \u2014 in hopes of resolving Europe\u2019s looming energy crisis.<\/p>\n<p><strong>Plane-purchase diplomacy:<\/strong> Qatar Airways signed a record deal at the White House with Boeing for up to 100 passenger aircraft \u2014 an order worth USD 34 bn at list prices, <a href=\"https:\/\/www.cnbc.com\/2022\/01\/31\/boeing-wins-qatar-airways-orders-for-new-777x-freighters-.html\">CNBC<\/a> reports. The transaction deals a blow to European competitor Airbus, which earlier in January canceled a contract with Qatar Airways for 50 new planes amid a dispute over alleged surface issues.<\/p>\n<p><strong>Also worth knowing this morning:<\/strong><\/p>\n<ul>\n<li><strong>The<\/strong> <strong>UAE intercepted and destroyed a ballistic missile <\/strong>fired by the Yemeni Houthi terrorist group according to state-run <a href=\"https:\/\/www.wam.ae\/en\/details\/1395303016284\">WAM news agency<\/a>. The attack coincided with Israeli President Isaac Herzog\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b9bcfdac-0645-4769-ab5e-42a766d46aa6\">first visit<\/a> to the Emirates, <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/yemens-houthis-say-disclose-details-new-military-operation-against-uae-tweet-2022-01-30\/\">Reuters<\/a> reports.<\/li>\n<li><strong>Libya could have a new PM by next week: <\/strong>Libya\u2019s parliament is set to vote on a new prime minister to replace incumbent Abdul Hamid Dbeibah next Tuesday, February 8, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-31\/libya-parliament-to-vote-on-new-prime-minister-feb-8?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a> reports, after critical presidential elections <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a65a8b2c-5691-404f-b1d9-9ce68045741e\">were postponed<\/a> in December on the back of \u201cthreats to the ballot.\u201d<\/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\/around-the-world\/\">Around the World<\/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\/libya\/\">Libya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qatar\/\">Qatar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section going-green wp-block-group issue-section\" id=\"543451\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/goinggreen\/\">\r\n                            Read going Green                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">13<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/ebrd-invests-usd-1-bn-in-egypt-in-2021\/\">\r\n                            EBRD invests USD 1 bn+ in Egypt in 2021<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/ebrd-invests-usd-1-bn-in-egypt-in-2021\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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href=\"https:\/\/api.whatsapp.com\/send?text=EBRD+invests+USD+1+bn%2B+in+Egypt+in+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Fgoinggreens%2Febrd-invests-usd-1-bn-in-egypt-in-2021%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>                    <\/div>\r\n\r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/ebrd-invests-usd-1-bn-in-egypt-in-2021\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/8.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=\"543452\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/ebrd-invests-usd-1-bn-in-egypt-in-2021\/8-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/8.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"8.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/8.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/8.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-543451\" class=\"content-area-description post-543451 goinggreen type-goinggreen status-publish has-post-thumbnail hentry tag-alexandria-metro-line tag-benban-solar-park tag-cairo-line-1 tag-cop27 tag-ebrd tag-enterprise-going-green tag-enterpriseam tag-green-economy tag-green-economy-transition 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>How Egypt featured heavily in the EBRD\u2019s global green strategy in 2021 \u2026 and how it will <\/strong><strong>continue to do so in 2022: <\/strong>The European Bank for Reconstruction and Development (EBRD) had a pretty big year in terms of green financing, with a record EUR 5.4 bn in green investments globally last year. Egypt took up a significant portion of that funding, with the bank having invested over EUR 1 bn in 20 projects in Egypt this year, with 44% of that going toward the green economy, the EBRD said in a press release (<a href=\"https:\/\/ent.news\/2022\/1\/EBRD_PRL_310122.pdf\">pdf<\/a>) on Sunday. Just to put that into perspective, that\u2019s almost two thirds of the bank\u2019s EUR 1.5 bn investments in 37 projects in the southern and eastern Mediterranean region (<a href=\"https:\/\/www.ebrd.com\/the-EBRD-and-the-SEMED.html\">SEMED<\/a>).<\/p>\n<p><strong>And the EBRD is planning to raise its green funding allocations here this year, <\/strong>Heike Harmgart, managing director for the SEMED region told Enterprise in an exclusive. She reveals to us that the bank hopes to at least match last year\u2019s total funding commitment and raise the portion of funding green economy projects to 48% in 2022.<\/p>\n<p><strong>We also spoke with Harmgart on details of the bank\u2019s green financing in 2021,<\/strong> <strong>its green funding priorities for 2022 <\/strong>and the outlook for Egypt as host of COP27.<\/p>\n<p>Below are edited excerpts of our conversation:<\/p>\n<p><strong>Breaking down the EUR 1 bn in funding in 2021: <\/strong>The 20 projects that received EBRD funding included small on-lending projects with local partners as well as big infrastructure projects, Harmgart tells us. Eight or nine of the 20 projects were on-lending through small local partners, including green SMEs and value chain projects with local Egyptian banks. The bank provided a USD 518 mn loan that went toward the Cairo Line 1 and Alexandria metro projects.<\/p>\n<p><strong>70% of its investments had a gender and inclusion focus<\/strong>, with inclusion representing an important focus of the bank\u2019s efforts in Egypt last year. Harmgart tells us that green and inclusion \u201care complementary targets,\u201d and that focusing on developing more on-lending projects outside main cities was a big priority for the bank last year and will likely be important this year as well.<\/p>\n<p><strong>75% of the projects funded by the EBRD in Egypt were in the private sector. <\/strong>The EBRD was the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/34359488-bebe-45fc-be5b-6a2bf16c7563\">top contributor<\/a> to private sector financing in Egypt last year. This level is likely to continue this year, she says.<\/p>\n<p><strong>The EBRD is hopeful that it can match or exceed its 2021 investments in Egypt this year. <\/strong>The bank has allocated over EUR 1 bn to Egypt each year for the past three-four years and Harmgart expects that 2022 will be similar.<\/p>\n<p><strong>The EBRD aims to make 48% of its funding in Egypt this year green, with a focus on resilience, mitigation and adaptation. <\/strong>Harmgart explains that the EBRD is becoming more \u201ctechnical\u201d in its investments this year, focusing on new technologies such as <a href=\"https:\/\/enterprise.press\/greeneconomys\/enterprise-explains-green-hydrogen\/\">green hydrogen<\/a>, which it sees huge potential for in Egypt. She also notes that the next phase will likely include more renewable wind and solar energy projects, with a focus on integration of renewables into the grid and private-to-private sector projects. The EBRD is also looking to support zero emissions waste management projects, building on the methane gas pledge, as well as low carbon agriculture.<\/p>\n<p><strong>Private sector focus will remain a priority for the bank\u2019s green funding initiatives:<\/strong> In addition to involving the private sector more in utility-level solar projects and connecting their plants to the grid, the EBRD is working on a \u201cgreen\u201d desalination project and is developing a project under a PPP model alongside the Sovereign Fund of Egypt and the Madbouly Cabinet, Hamgart said.<\/p>\n<p><strong>On-lending programs, including <\/strong><strong><a href=\"https:\/\/ebrdgeff.com\/egypt\/\">GEFF<\/a><\/strong><strong> (Green Economy Financing Facility), will continue to feature this year. <\/strong>The EBRD is looking at doing more GEFFs and green value chain financing, with a focus on climate change assessments and exposure while helping banks to understand the impact on their operations from a climate change perspective to enable them to provide more green funding.<\/p>\n<p><strong>The bank is also working on tweaking existing green programs, including the Green Cities program. <\/strong>In April of last year, the EBRD announced the inclusion of 6 October City in its EUR 2.5 bn <a href=\"https:\/\/www.ebrdgreencities.com\/\">Green Cities<\/a> program in an effort to make Egyptian cities greener, making it the third Egyptian member city in the program after Cairo and Alexandria. The EBRD has launched projects under the Green Cities cities program this year, identifying policy changes as well as potential investments that could help accelerate green urban living.<\/p>\n<p><strong>On the policy front, the EBRD would like to see more banks factor climate change into their assessments and raise their risk appetite for green funding.<\/strong> Harmgart stresses that climate change assessments are new to the banking sector even in Europe. It will be key for Egyptian banking institutions to get ahead of the curve to mitigate better, she stressed. The EBRD is looking to do more trade financing and identifying green trade opportunities with financial institutions to incentivize banks to take on more risks.<\/p>\n<p><strong>And it would like to see local operators issue more green bonds: <\/strong>Green bond issuance is another area that the bank is looking to develop, Harmgart tells us. With Benban maturing, the EBRD is looking at potential green bond issuances on the horizon.<\/p>\n<p><strong>Egypt\u2019s revised target to source 42% of its energy from renewables by 2030 is very realistic<\/strong>, according to Harmgart, who says that Egypt has excellent wind and solar energy sources and needs to now focus on integrating renewables into the grid, as well as storage, transmission and distribution. She stresses that battery storage and fluctuation management are two areas that the EBRD is hopeful it can help Egypt with.<\/p>\n<p><strong>The EBRD is hopeful that COP27 results in an ambitious NDC and net zero target for Egypt and other North African and African countries. <\/strong>\u201cEgypt is putting together a team for climate leadership, and I think we all stand ready to help them achieve this in time for Sharm,\u201d Harmgart tells us. She stresses that it is key for Egypt to bring all its individual climate change efforts together in an ambitious <a href=\"https:\/\/unfccc.int\/process-and-meetings\/the-paris-agreement\/nationally-determined-contributions-ndcs\/nationally-determined-contributions-ndcs\">NDC<\/a> (Nationally Determined Contribution) and net zero target this year, hopefully leading the way for other African countries to follow suit. \u201cEgypt has done a lot of different individual components successfully, and in 2022, it needs to bring all of these together in a realistic and ambitious NDC and net zero strategy at Sharm,\u201d she tells us.<\/p>\n<p><strong>The bank hopes to see more financing commitments from global financing institutions at COP27<\/strong>, including global pension funds, commercial banks and global finance in general. \u201cThe need for financing is too large for a few multilateral development funds,\u201d she tells us, stressing the need for more global players to contribute.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top climate stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Green bonds, round 2:<\/strong> The Finance Ministry is looking to take to the green bond market for a second time with <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/11eb3081-75f6-433f-b7b0-62d2c029fe7a\">another USD 750 mn issuance<\/a><\/li>\n<li><strong>EBRD backs Scatec Solar Benban green bond: <\/strong>The development bank <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4be1b672-4abf-4c0b-9ddc-e3924546d6ca\">will subscribe to almost a third<\/a> of Scatec Solar\u2019s upcoming green bond issuance<\/li>\n<li><strong>The <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8bccb1be-e366-491b-a328-369fd2b8c4e2\">carbon emissions market<\/a><\/strong><strong>:<\/strong> We tell you everything you need to know about carbon pricing.<\/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\/alexandria-metro-line\/\">Alexandria metro line<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/benban-solar-park\/\">Benban solar park<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cairo-line-1\/\">Cairo Line 1<\/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\/ebrd\/\">EBRD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-economy\/\">Green Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-economy-transition\/\">green economy transition<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"543453\" 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\/02\/01\/543453\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543453\" class=\"content-area-description single-story post-543453 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>1Q2022: <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9cd1fc44-1593-4317-8658-0aa792215521\">Launch of the Egyptian Commodities Exchange<\/a>.<\/p>\n<p>1Q2022: Swvl acquisition of Viapool expected to close.<\/p>\n<p>1Q2022: Waste collection startup Bekia plans to expand to the UAE and Saudi Arabia.<\/p>\n<p>1Q2022: Rameda Pharma will begin selling its generic version of Merck\u2019s oral antiviral covid-19 med.<\/p>\n<p>1Q2022: Pharos Energy\u2019s sale of 55% stake in El Fayum, Beni Suef concessions to IPR Energy Group subsidiary IPR Lake Qarun expected to close.<\/p>\n<p>Early 2022: Results <a href=\"https:\/\/www.elwatannews.com\/news\/details\/5876314\">to be announced<\/a> for the second round of the state\u2019s gold and precious metals auction.<\/p>\n<p>1H2022: Target date for IDH to close its acquisition of 50% of Islamabad Diagnostic Center.<\/p>\n<p>1H2022: e-Finance\u2019s digital healthcare service platform, eHealth, will launch its services.<\/p>\n<p>1H2022: The government will respond to private companies\u2019 bids to build desalination plants.<\/p>\n<p>1H2022: Egypt\u2019s second corporate green bond issuance expected to be announced.<\/p>\n<p>January: Sovereign Sukuk Act executive regulations expected to be finalized.<\/p>\n<p>January: Tenth of Ramadan dry port tender to be launched.<\/p>\n<p>January: Three-month trial period of ACI for air freight to begin.<\/p>\n<p>9 January - 6 February (Sunday-Sunday): 2021 Africa Cup of Nations, Cameroon.<\/p>\n<p>Second half of January: Egypt <a href=\"https:\/\/alborsaanews.com\/2021\/11\/23\/1483989\">will host<\/a> the Egyptian-Bahraini Joint Committee.<\/p>\n<p>Second half of January: <a href=\"https:\/\/alborsaanews.com\/2021\/12\/20\/1492507\">Regulations<\/a> for installing EV charging stations will be published.<\/p>\n<p>25 January - 1 February (Tuesday-Tuesday): EGX <a href=\"https:\/\/alborsaanews.com\/2022\/01\/23\/1501763\">will open over the counter transactions<\/a> for the National Bank of Kuwait.<\/p>\n<p>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>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>3 February (Thursday): Deadline to send in concept notes for Cultural Property Agreement Implementation projects to the <a href=\"https:\/\/eg.usembassy.gov\/wp-content\/uploads\/sites\/156\/CPAIG-2022-Announcment-RDL-edits.pdf\">US Embassy in Cairo<\/a>.<\/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>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>26 March (Saturday): Egypt-EU World Trade Organization dispute settlement consultations end.<\/p>\n<p>28-29 March (Monday-Tuesday): The Egypt International Mining Show (<a href=\"https:\/\/egypt-mining.com\/\">EIMS 2022<\/a>) will take place virtually.<\/p>\n<p>31 March (Thursday): Deadline for submitting tax returns for individual taxpayers.<\/p>\n<p>31 March (Thursday): Vodacom purchase of Vodafone Group\u2019s stake in Vodafone Egypt expected to be completed by this date.<\/p>\n<p>31 March (Thursday): Supply Ministry expected to take final decision on bread subsidies by this date.<\/p>\n<p>2 April (Saturday): First day of Ramadan (TBC).<\/p>\n<p>3 April (Sunday): Bidding begins on the Industrial Development Authority\u2019s license to manufacture tobacco products.<\/p>\n<p>4 April (Monday): CDC Group will formally change its name to British International Investment.<\/p>\n<p>22-24 April (Friday-Sunday): <a href=\"http:\/\/sdg.iisd.org\/events\/2022-spring-meetings-of-the-world-bank-group-and-the-international-monetary-fund\/\">World Bank-IMF spring meeting<\/a>, Washington D.C.<\/p>\n<p>24 April (Sunday): Coptic Easter Sunday (holiday for Coptic Christians).<\/p>\n<p>25 April (Monday): Sham El Nessim.<\/p>\n<p>25 April (Monday): Sinai Liberation Day.<\/p>\n<p>28 April (Thursday): National Holiday in observance of Sham El Nessim.<\/p>\n<p>30 April (Saturday): Deadline for submitting corporate tax returns for companies whose financial year ends 31 December.<\/p>\n<p>Late April - 15 May: 1Q2022 earnings season<\/p>\n<p>May: Investment in Logistics Conference, Cairo, Egypt.<\/p>\n<p>1 May (Sunday): Labor Day.<\/p>\n<p>3-4 May (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>4 May (Wednesday): 3 February (Thursday): Deadline to send in applications for Cultural Property Agreement Implementation projects to the <a href=\"https:\/\/eg.usembassy.gov\/wp-content\/uploads\/sites\/156\/CPAIG-2022-Announcment-RDL-edits.pdf\">US Embassy in Cairo<\/a>.<\/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>2H2022: The government will have vaccinated 70% of the population.<\/p>\n<p>July: A law governing ins. for seasonal contractors will come into effect.<\/p>\n<p>1 July (Friday): FY 2022-2023 begins.<\/p>\n<p>8 July (Friday): Arafat Day.<\/p>\n<p>9-13 July (Saturday-Wednesday): Eid Al Adha, national holiday.<\/p>\n<p>26-27 July (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>30 July (Saturday): Islamic New Year.<\/p>\n<p>Late July - 14 August: 2Q2022 earnings season.<\/p>\n<p>18 August (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>September: Egypt will display its first naval exhibition with the title <a href=\"https:\/\/bit.ly\/3lshDZX\">Naval Power<\/a>.<\/p>\n<p>20-21 September (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>22 September (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>October: World Bank and IMF annual meetings in Washington, DC<\/p>\n<p>6 October (Thursday): Armed Forces Day, national holiday.<\/p>\n<p>8 October (Saturday): Prophet Muhammad\u2019s birthday, national holiday.<\/p>\n<p>18-20 October(Tuesday-Thursday): Mediterranean Offshore Conference, Alexandria, Egypt.<\/p>\n<p>Late October - 14 November: 3Q2022 earnings season.<\/p>\n<p>November: Cairo Water Week 2022.<\/p>\n<p>1-2 November (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>3 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>21 November-18 December (Monday-Sunday): 2022 Fifa World Cup, Qatar.<\/p>\n<p>13-14 December (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>22 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>End of 2022: e-Aswaaq\u2019s tourism platform will complete the roll out of its ticketing and online booking portal across Egypt.<\/p>\n<p>January 2023: EGX-listed companies and non-bank lenders will submit ESG reports for the first time.<\/p>\n<p><strong>**Note to readers:<\/strong> Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish above between the actual holiday and its observance.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":543427,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-543426","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"9c431370-ecae-4225-a114-594675b1c8eb","teaser":"","photo_url":"https:\/\/ent.news\/2022\/2\/1.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>More on our re-entry to JPMorgan\u2019s EM bond index - 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\/more-on-our-re-entry-to-jpmorgans-em-bond-index\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"More on our re-entry to JPMorgan\u2019s EM bond index\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/more-on-our-re-entry-to-jpmorgans-em-bond-index\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T20:16:31+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/1.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\/more-on-our-re-entry-to-jpmorgans-em-bond-index\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/more-on-our-re-entry-to-jpmorgans-em-bond-index\/\",\"name\":\"More on our re-entry to JPMorgan\u2019s EM bond index - 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