{"id":543857,"date":"2022-02-22T03:54:45","date_gmt":"2022-02-22T03:54:45","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=543857"},"modified":"2025-12-15T20:26:51","modified_gmt":"2025-12-15T20:26:51","slug":"efg-hermes-taps-goldman-white-case-to-advise-on-first-abu-dhabi-banks-acquisition-offer","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/efg-hermes-taps-goldman-white-case-to-advise-on-first-abu-dhabi-banks-acquisition-offer\/","title":{"rendered":"EFG Hermes taps Goldman, White &#038; Case to advise on First Abu Dhabi Bank\u2019s acquisition offer"},"content":{"rendered":"<section id=\"543859\" 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=\"543859\">\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\/22\/this-morning-did-war-just-break-out-in-ukraine-there-are-103-mn-of-us-now\/\">\r\n                            THIS MORNING: Did war just break out in Ukraine? + there are 103 mn of us now                        <\/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\/22\/this-morning-did-war-just-break-out-in-ukraine-there-are-103-mn-of-us-now\/\" 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\/22\/this-morning-did-war-just-break-out-in-ukraine-there-are-103-mn-of-us-now\/')\">\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\/22\/this-morning-did-war-just-break-out-in-ukraine-there-are-103-mn-of-us-now\/\">\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: Did war just break out in Ukraine? + there are 103 mn of us now&url=https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/this-morning-did-war-just-break-out-in-ukraine-there-are-103-mn-of-us-now\/\">\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\/22\/this-morning-did-war-just-break-out-in-ukraine-there-are-103-mn-of-us-now\/&title=THIS MORNING: Did war just break out in Ukraine? + there are 103 mn of us now\">\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+Did+war+just+break+out+in+Ukraine%3F+%2B+there+are+103+mn+of+us+now+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F02%2F22%2Fthis-morning-did-war-just-break-out-in-ukraine-there-are-103-mn-of-us-now%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\/22\/this-morning-did-war-just-break-out-in-ukraine-there-are-103-mn-of-us-now\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543859\" class=\"content-area-description single-story post-543859 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-capmas tag-enterpriseam tag-russia tag-ukraine tag-war tag-what-were-tracking-today tag-wheat 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>A raft of good business news here at home on this fine morning <\/strong>\u2014 2022.02.22 for those of you keeping track \u2014 <strong>is overshadowed by news that Russia has ordered troops into Ukraine. <\/strong><\/p><p><strong>After months of saber rattling, Russian President Vladimir Putin last night ordered troops <\/strong><strong>into Ukraine<\/strong>\u2019s two separatist regions for a \u201cpeacekeeping\u201d operation just hours after he signed a decree recognizing the two breakaway areas. It\u2019s not clear as of dispatch whether Russian troops are already on the move or if Putin plans to order their advance beyond the self-proclaimed \u201cpeople\u2019s republics\u201d of Donetsk and Luhansk. All indications are that this could be the start of the war that has been threatening to erupt for weeks now.<\/p><p><strong>Stock markets don\u2019t like war: <\/strong>Asian markets are solidly in the red this morning and futures suggest European markets, Wall Street and Bay street should brace for a selloff at the opening bell. Brent crude futures surged on the news and the only gainers in after-hours stock trading seem to be energy companies.<\/p><p><strong>Now for the response from the West: <\/strong>The UK is set to impose sanctions on Russia as early as next Tuesday, while EU leaders have also vowed sanctions for Putin\u2019s move and will meet imminently to discuss the details. The US is imposing sanctions on the separatist regions, but not Russia as a whole as of yet, the <a href=\"https:\/\/www.nytimes.com\/live\/2022\/02\/21\/world\/ukraine-russia-putin-biden#the-us-said-it-will-impose-sanctions-on-the-breakaway-regions-but-not-for-now-on-russia\">New York Times<\/a> is reporting, citing White House officials.<\/p><p><strong>That Putin-Biden summit that some were speculating about yesterday? <\/strong>Not happening, if you ask us.<\/p><p><strong>The news is all over the world\u2019s front pages: <\/strong>The <a href=\"https:\/\/www.ft.com\/content\/b4bf6296-eb4d-4a26-9d46-e252b92b9837\">Financial Times<\/a>, <a href=\"https:\/\/www.reuters.com\/markets\/europe\/kremlin-says-no-concrete-plans-summit-with-biden-over-ukraine-2022-02-21\/\">Reuters<\/a>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-02-21\/putin-to-recognize-ukraine-separatist-republics-kremlin-says?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a>, <a href=\"https:\/\/www.washingtonpost.com\/world\/2022\/02\/21\/russia-ukraine-updates\/\">Washington Post<\/a>, <a href=\"https:\/\/www.wsj.com\/articles\/russia-alleges-ukrainian-incursion-kyiv-says-moscow-makes-up-fake-incidents-11645453512?mod=hp_lead_pos1\">Wall Street Journal<\/a> and <a href=\"https:\/\/apnews.com\/article\/russia-ukraine-joe-biden-boris-johnson-europe-emmanuel-macron-2b7c2949ae3168effce9d0cb2584bb32\">Associated Press<\/a> have more.<\/p><p><strong>War in Ukraine is something we need to keep careful tabs on. <\/strong>Russia and Ukraine are two of the most important markets for our resurgent tourism industry \u2014 and two of our top suppliers of wheat, together accounting for the vast majority of our imports (as we note in Egypt in the News, below). State wheat buyer GASC, the world\u2019s largest purchaser of the commodity, was very careful a few days back in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a38a8f80-51ed-4cc9-83ab-64e4d1ea633c\">locking in April wheat from Romania<\/a> even though Ukraine was offering a better price.<\/p><p><strong>Russian wheat continues to fall on Ukraine tensions: <\/strong>Export prices of Russian wheat fell for a sixth consecutive week last week as tensions with Ukraine continued to rattle the market, <a href=\"https:\/\/www.reuters.com\/markets\/asia\/russian-wheat-falls-keeps-ukraine-crisis-focus-2022-02-21\/\">Reuters<\/a> reports. Russia and Ukraine are two of the world\u2019s biggest wheat exporters, with<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bc922ba0-67ab-4050-9920-ee1ac7d63996\">Egypt as one of their main buyers.<\/a> Around 50% of our wheat imports were shipped from Russia last year, while 30% came from Ukraine. Prices of Ukrainian wheat are also under pressure, falling 4% so far in February.<\/p><p><strong>MARKET REAX- Russian stocks fell to their lowest since Russia\u2019s annexation of Crimea <\/strong><strong>in 2014 yesterday, <\/strong>while the country\u2019s currency dropped the most since March 2020 on the back of the latest developments in Ukraine. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-02-21\/russian-assets-tumble-as-military-aid-report-spooks-traders?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a>)<\/p><p><strong><a href=\"https:\/\/www.youtube.com\/watch?v=K3b6SGoN6dA\">The soundtrack for this morning\u2019s issue<\/a><\/strong> \u2026 is predictable.<\/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>MEANWHILE- There are now 103 mn of us:<\/strong> Egypt\u2019s population should reach 103 mn today, statistics agency Capmas announced, according to <a href=\"https:\/\/bit.ly\/3HkXr4t\">Masrawy<\/a>. We reached the 102-mn mark in July of last year \u2014 232 days ago \u2014 meaning that on average, one baby was born every twenty seconds in the interim.<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>A call for tech startups: <\/strong>The Information Technology Industry Development Agency (ITIDA) and US-based VC firm <a href=\"https:\/\/www.plugandplaytechcenter.com\/\">Plug and Play<\/a> have <a href=\"https:\/\/itida.gov.eg\/English\/PressReleases\/Pages\/ITIDA-and-Plug-and-Play-Join-Hands-with-USAID%E2%80%99s-Economic-Governance-Activity-(EGA)-to-Launch-Open-Innovation-Platformin-.aspx\">launched<\/a> an incubator and accelerator program for digital transformation-focused startups in partnership with our friends at USAID. The newly launched \u201cSmart Cities\u201d innovation hub will select 20-30 Egypt-based companies for its inaugural three-month program, which starts in March. Startups can apply <a href=\"https:\/\/www.plugandplaytechcenter.com\/cairo\/#apply\">here<\/a> before applications close on 28 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 transition to net-zero emissions by 2050 is extremely necessary \u2014 but it\u2019s also going to be extremely expensive, according to a new report from McKinsey. Investments of as much as USD 275 tn \u2014 equivalent to 7.5% of global GDP \u2014 will be needed as the world looks to rebuild the global economy from the ground up, sans carbon. In today\u2019s issue of Going Green, we take a closer look at what the report has to say about hoe the shift to sustainability might look on a macro level, and why it\u2019s going to cost quite so much.<\/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\/capmas\/\">CAPMAS<\/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\/ukraine\/\">Ukraine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/war\/\">war<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"543860\" 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=\"543860\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/543860\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543860\" class=\"content-area-description single-story post-543860 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/somabay.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/soma-hotels1600pxjpg.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n<p>Experience luxury in every thoughtful detail where prestige hospitality is rediscovered with genuine warmth and passion. Awaken forgotten desires and build unforgettable memories to fuel a lifetime of inspiration. Spend your winter break at Somabay with special rates and choose among five different hotels at one destination. Visit: www.Somabay.com\/hotels\/<\/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=\"543861\" 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=\"543861\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/goldman-sachs-to-advise-efg-on-bid-by-fab-board-okays-start-of-due-diligence\/\">\r\n                            Goldman Sachs to advise EFG on bid by FAB, board okays start of due diligence                        <\/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\/22\/goldman-sachs-to-advise-efg-on-bid-by-fab-board-okays-start-of-due-diligence\/\" 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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href=\"https:\/\/api.whatsapp.com\/send?text=Goldman+Sachs+to+advise+EFG+on+bid+by+FAB%2C+board+okays+start+of+due+diligence+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F02%2F22%2Fgoldman-sachs-to-advise-efg-on-bid-by-fab-board-okays-start-of-due-diligence%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\/22\/goldman-sachs-to-advise-efg-on-bid-by-fab-board-okays-start-of-due-diligence\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/313.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"543862\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/goldman-sachs-to-advise-efg-on-bid-by-fab-board-okays-start-of-due-diligence\/313-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/313.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"313.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/313.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/313.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543861\" class=\"content-area-description single-story post-543861 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-efg-hermes tag-efg-hermes-corps-solutions tag-enterpriseam tag-first-abu-dhabi-bank tag-goldman-sachs tag-ma-watch tag-white-case 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>Goldman Sachs and law firm White & Case will advise EFG Hermes\u2019 board of directors on a takeover bid by First Bank of Abu Dhabi<\/strong> (FAB), EFG said in a <a href=\"https:\/\/www.egx.com.eg\/downloads\/News\/%d9%87%d9%8a%d8%b1%d9%85%d9%8a%d8%b3%20%d9%85%d8%ac%d9%84%d8%b3%2021-2-2022.pdf\">regulatory filing (pdf)<\/a> that confirmed reports <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7930b05c-8650-45aa-ae77-0991be2b63bf\">earlier this week<\/a> that it was planning to tap the international investment bank.<\/p>\n<p><strong>T<\/strong><strong>he board also gave the go ahead for FAB to conduct due diligence on EFG<\/strong>, pending approval from regulatory bodies, the disclosure said.<\/p>\n<p><strong>EFG will also hire an independent financial advisor will be hired to prepare a fair value study<\/strong> if the UAE lender decides to submit a mandatory offer, EFG\u2019s board agreed.<\/p>\n<p><strong>FAB\u2019s advisors:<\/strong> Rothschild & Co is providing financial advice to FAB, while Matouk Bassiouny & Hennawy are its local counsel.<\/p>\n<p><strong>A recap of the offer:<\/strong> The Emirati lender <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8d68b5eb-a11f-4c88-b404-0e64bb3de85d\">announced<\/a> in February its offer to buy at least 51% of EFG in a transaction valued approximately at EGP 18.5 bn, which would make it one of Egypt\u2019s biggest acquisitions in recent years. FAB is reportedly <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e5f0842e-f8fe-4bbe-ae01-41a01dc21e33\">considering raising its offer<\/a> depending on the results of the due diligence process. The bid for EFG draws a clear line under the attractive fundamentals not just of the country\u2019s leading financial services corporation, but of Egypt as a destination for foreign direct investment.<\/p>\n<p><strong>ALSO FROM EFG-<\/strong><\/p>\n<p><strong>Transmar signs USD 25 mn financing agreement with EFG Hermes for new <\/strong><strong>vessel:<\/strong> Transmar, an IACC subsidiary and Egypt\u2019s home-grown container shipping line, has signed a USD 25 mn agreement with EFG Hermes Corp-Solutions to finance the purchase of a new cargo vessel, EFG said yesterday in a <a href=\"https:\/\/ent.news\/2022\/2\/EFG-Hermes-Corp-Solutions-x-Transmar-Legacy-English-PRL.docx.pdf\">statement (pdf)<\/a><a href=\"https:\/\/ent.news\/2022\/2\/EFG-Hermes-Corp-Solutions-x-Transmar-Legacy-English-PRL.docx.pdf\">.<\/a> Dubbed the Transmar Legacy, the new vessel will cost USD 33 mn, and it is set to operate primarily between Egypt and Saudi Arabia, according to 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\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes-corps-solutions\/\">EFG Hermes Corps-Solutions<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/first-abu-dhabi-bank\/\">First Abu Dhabi Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/goldman-sachs\/\">Goldman Sachs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/white-case\/\">White &amp; Case<\/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=\"543863\" 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=\"543863\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/elevate-pe-to-establish-cancer-treatment-facility-in-cairo\/\">\r\n                            Elevate PE to establish cancer treatment facility in Cairo                        <\/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\/22\/elevate-pe-to-establish-cancer-treatment-facility-in-cairo\/\" 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\/22\/elevate-pe-to-establish-cancer-treatment-facility-in-cairo\/')\">\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\/22\/elevate-pe-to-establish-cancer-treatment-facility-in-cairo\/\">\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=Elevate PE to establish cancer treatment facility in Cairo&url=https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/elevate-pe-to-establish-cancer-treatment-facility-in-cairo\/\">\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\/22\/elevate-pe-to-establish-cancer-treatment-facility-in-cairo\/&title=Elevate PE to establish cancer treatment facility in Cairo\">\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=Elevate+PE+to+establish+cancer+treatment+facility+in+Cairo+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F02%2F22%2Felevate-pe-to-establish-cancer-treatment-facility-in-cairo%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\/22\/elevate-pe-to-establish-cancer-treatment-facility-in-cairo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543863\" class=\"content-area-description single-story post-543863 post type-post status-publish format-standard hentry category-investment-watch tag-digital-pathology tag-elevate-healthcare-fund tag-elevate-private-equity tag-enterpriseam tag-gustave-roussy-institute tag-investment-watch tag-misr-capital wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-02\" class=\"content-anchor\"><\/a> <strong>Elevate Private Equity<\/strong><strong> (<\/strong><strong><a href=\"https:\/\/www.linkedin.com\/company\/elevate-private-equity\/\">Linkedin<\/a><\/strong><strong>) is investing at least EGP 500 mn to establish a dedicated <\/strong><strong>cancer treatment facility in Egypt<\/strong>, a company spokesperson told Enterprise yesterday. This came on the same day that Elevate <a href=\"https:\/\/ent.news\/2022\/2\/PR_2022_Feb_20_Elevate_PE_signs_MOU_with_Gustave-Roussy.pdf\">announced (pdf)<\/a> the signing of an MoU with the France-based <a href=\"https:\/\/www.gustaveroussy.fr\/en\">Gustave Roussy Institute<\/a>, one of Europe\u2019s leading cancer hospitals, to collaborate on the facility. Elevate was unable to provide an exact value for the MoU when we asked.<\/p>\n<p><strong>First services coming in 2H2022:<\/strong> The center will comprise a digital pathology platform, a cancer diagnostics center, and a cancer management hospital. Pathology and diagnostics services will be up and running within the next 6-9 months, while the completion date for the full hospital is still to be determined, the company told us.<\/p>\n<p><strong>Elevate is investing through its <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7b1c81d3-71f3-42bf-8041-8c22579af22b\">new Elevate Healthcare platform<\/a><\/strong> established with Misr Capital last year. The USD 380 mn fund aims to invest in healthcare in Egypt and sub-Saharan Africa and has been billed as the biggest specialist fund of its kind on the continent.<\/p>\n<p><strong>Elevate will also be leveraging a USD multi-mn agreement with <\/strong><strong><a href=\"https:\/\/www.elekta.com\/\">Elekta<\/a><\/strong><strong> to bring cutting-edge radiotherapy cancer treatment to Cairo<\/strong>, making it the first private sector institution to bring this technology to the Egyptian market, the spokesperson told us.<\/p>\n<p><strong>ALSO IN INVESTMENT-<\/strong><\/p>\n<p><strong>CIRA + Al Ahly Capital to cover half of investments in applied tech university: <\/strong>Private sector education outfit CIRA and Al Ahly Capital, the National Bank of Egypt\u2019s investment arm, will together finance half of CIRA\u2019s EGP 2.1 bn <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ef11c8c2-fac3-4847-8c50-dcd4fe71f3f6\">applied tech university<\/a>, CIRA Project Manager and Investments Officer Mohamed El Khouly told <a href=\"https:\/\/bit.ly\/3BzEI3E\">Al Mal<\/a>. Of the EGP 1 bn that CIRA and Al Ahly Capital will pony up, CIRA will contribute 60% and Al Ahly Capital will provide the remaining 40%, a CIRA official confirmed to Enterprise.<\/p>\n<p><strong>Where\u2019s the rest of the funding coming from?<\/strong> CIRA is still in talks with banks for a loan to cover the other half of the investment costs, El Khouly said. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad7492c3-018d-4177-acd7-12141912af95\">Last we heard<\/a>, the company was reportedly negotiating with a syndicate of three international banks for a credit facility.<\/p>\n<p><strong>The plan for the university:<\/strong> The first phase of the project will see four colleges established for when the university opens its doors in the 2022-2023 academic year, at a cost of around EGP 1.4 bn, according to El Khouly. This amount includes EGP 700-800 mn that will be financed through bank loans, he said. The university will then introduce two new colleges every year until it reaches a total of 13.<\/p>\n<p><em>EDITOR'S NOTE- This story was updated on 22 February, 2022 to amend Mohamed El Khouly's title.<\/em><\/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\/digital-pathology\/\">digital pathology<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/elevate-healthcare-fund\/\">Elevate Healthcare Fund<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/elevate-private-equity\/\">Elevate Private Equity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gustave-roussy-institute\/\">Gustave Roussy Institute<\/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\/misr-capital\/\">Misr Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"543864\" 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=\"543864\">\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\">COP27 WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/us-climate-envoy-john-kerry-wants-to-support-our-clean-energy-ambitions-ahead-of-cop27-but-not-our-natgas\/\">\r\n                            US climate envoy John Kerry wants to support our clean energy ambitions ahead of COP27 \u2014 but not our natgas                        <\/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\/22\/us-climate-envoy-john-kerry-wants-to-support-our-clean-energy-ambitions-ahead-of-cop27-but-not-our-natgas\/\" 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 group will also work to advance Egypt\u2019s green energy transition.<\/p>\n<p><strong>Kerry got the ball rolling on US involvement in our energy sector:<\/strong> The climate envoy and President Abdel Fattah El Sisi discussed ways for American companies and institutions to participate in Egypt\u2019s efforts to become a regional energy hub, according to an Ittihadiya <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/510005593821507?__cft__[0]=AZUM5v2q1RmtKNGTC3AOtT5y5ER5dD3aKHKZm_e5vNySzASEP3j0F-o8MJbb1Uq5aid_NUPUF5HWmnBZfT2zcuUJFKBise3fM3PvL1BJqH3nYV9LeISVrE9vgx8EXsyKLr8Owrw3Aqlur_IqPW4OS2l6&__tn__=%2CO%2CP-R\">statement<\/a>, which mentioned projects on green hydrogen, solar and wind energy, and low-carbon and electric transport.<\/p>\n<p><strong>Egypt will work to ensure developing countries get the funding they need from developed countries to fight climate change<\/strong>, El Sisi said during the meeting. El Sisi has been <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a6294170-e376-48bc-bf82-aa80b8e0fde5\">vocal<\/a> about prioritizing finance for Africa\u2019s green transition, which <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-02-21\/egypt-s-cop27-will-turn-attention-to-climate-justice\">Bloomberg<\/a> notes will be a key theme for this year\u2019s summit. Kerry, meanwhile, came under fire from some quarters about his position on loss and damage financing for developing nations, a matter that he mentioned only in \u201cpassing reference\u201d during yesterday\u2019s visit, the <a href=\"https:\/\/www.ft.com\/content\/cdb18bdb-6028-44f0-9142-677ae088ccda\">Financial Times<\/a> reports.<\/p>\n<p><strong>Notably absent from El Sisi + Kerry\u2019s talks: natural gas. <\/strong>Kerry took aim at unnamed countries who are \u201cturning to new, unabated natural gas as a transition fuel,\u201d in a <a href=\"https:\/\/www.state.gov\/special-presidential-envoy-for-climate-john-kerry-implementation-plus-global-climate-action-in-2022\/\">speech<\/a> delivered at AUC yesterday. \u201cUnless fully abated, new natural gas capacity will lock in decades of new emissions when we should all be focusing on deploying abundant and cheap clean energy,\u201d he said.<\/p>\n<p><strong>Gas is key to our energy hub ambitions:<\/strong> Egypt became a net exporter of natgas and LNG in 2018 after the discovery of the supergiant Zohr gas field, and has been pushing to increase output as <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b05357d8-d636-4372-a069-cf77d948b1e7\">international gas prices rise<\/a>. We\u2019ve also been approached in recent weeks <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9116ce66-29a8-46af-a031-9619f15bfa0f\">by the EU<\/a> and, reportedly, the US, for talks on whether we could up exports to Europe in the event that Russian supply dries up due to the geopolitical crisis over Ukraine.<\/p>\n<p><strong>Kerry wants us to take our eyeballs off Ukraine and refocus on climate: <\/strong>\u201cI am concerned in terms of the climate efforts that a war [in Ukraine] is the last thing you need with respect to a united effort to try to deal with the climate challenge,\u201d he told <a href=\"https:\/\/www.reuters.com\/business\/cop\/focus-climate-kerry-says-international-attention-turns-ukraine-2022-02-21\/\">Reuters<\/a>. <a href=\"https:\/\/thehill.com\/policy\/energy-environment\/595168-us-egypt-launch-joint-working-group-ahead-of-un-climate-change\">The Hill<\/a> and <a href=\"https:\/\/apnews.com\/article\/business-africa-egypt-cairo-united-states-564f95a1d8be5257daeb0ddd2cef1e33\">Associated Press<\/a> also had coverage of Kerry\u2019s visit.<\/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\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cop27-watch\/\">COP27 WATCH<\/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\/ukraine-crisis\/\">Ukraine crisis<\/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=\"543866\" 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=\"543866\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/old-rent-law-gets-greenlight-from-the-house\/\">\r\n                            Old rent law gets greenlight from the House                        <\/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\/22\/old-rent-law-gets-greenlight-from-the-house\/\" 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 bill would come into effect within five years of its being signed into law, while tenants would pay five times their current rent \u2014 with a 15% annual rent hike \u2014 in the meantime. It would not affect individuals who rent under the old rent system. The House Housing Committee <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/64c7215d-8eaa-4ae7-95fb-9967426efe0d\">signed off<\/a> on the bill last month.<\/p>\n<p><strong>What\u2019s next for the bill: <\/strong>It will be up for a final vote in a later plenary session. If passed, it will be sent to President Abdel Fattah El Sisi to be signed into law.<\/p>\n<p><strong>WATCH THIS SPACE- A wider overhaul of the old rent system could be next. <\/strong>House Speaker Hanafy El Gebaly asked representatives to prepare suggestions for a debate on amending the old rent law that governs individuals who rent under the old rent system, <a href=\"https:\/\/bit.ly\/3sSZiIt\">Al Mal<\/a> reports. Gebaly stressed that public consultations and extensive debate would take place before the implementation of any changes that would have an impact on individual renters.<\/p>\n<p><strong>Legislators will be treading carefully: <\/strong>First introduced during our socialist interregnum, the old rent law still governs many contracts signed on a near-permanent basis eons ago. <a href=\"https:\/\/invest-gate.me\/features\/the-evolution-of-the-old-rental-law\/\">Landlords<\/a> and others have called the law unfair, as it has kept rents at remarkably low levels for some amid a wider crisis of affordable housing. Legislators have been <a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/12\/house-approves-govt-proposed-amendments-on-prosecution-judicial-authorities-pensions-and-non-housing-rent\/\">reluctant<\/a> to make reforms, especially when it comes to individual renters, as any change could lead to widespread evictions of families from homes they\u2019ve lived in for decades.<\/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\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation\/\">legislation<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"543868\" 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=\"543868\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/543868\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543868\" class=\"content-area-description single-story post-543868 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=\"543869\" 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=\"543869\">\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\">INFRASTRUCTURE WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/schneider-eyes-electricity-ministrys-remaining-energy-control-center-contracts\/\">\r\n                            Schneider eyes Electricity Ministry\u2019s remaining energy control center contracts                        <\/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\/22\/schneider-eyes-electricity-ministrys-remaining-energy-control-center-contracts\/\" 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 control centers will be located in Cairo, Alexandria, Sharm El Sheikh, Hurghada, Minya, Ismailia, and Nile Delta governorates.<\/p>\n<p><strong>The company hopes to ink the contract with the ministry before the summer<\/strong>, Schneider Electric Middle East and North Africa President Walid Sheta told Enterprise.<\/p>\n<p><strong>This is all part of a wider plan:<\/strong> The 10 centers Schneider is eyeing are part of the <a href=\"https:\/\/enterprise.press\/hardhats\/smart-grid-can-help-stop-power-cuts-improve-energy-efficiency\/\">ministry\u2019s plan<\/a> to set up a total of 15 centers, four of which the company already snapped up at a cost of EGP 4.7 bn (c.EUR 253 mn). General Electric was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/31f7c42b-a0c4-4c7d-9199-e628a3838c5e\">awarded a contract<\/a> to build a single center in Alexandria. The ministry is working on rolling out smart control centers across the country in a five-phase, 10-year strategy.<\/p>\n<p><strong>When should we expect Schneider\u2019s four centers? <\/strong>The company had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4885833a-8b7e-4f33-9818-74196a01688f\">said last year<\/a> it would complete the first four control centers \u2014 all in the Greater Cairo area \u2014 by mid-2022. Schneider now plans to deliver the <a href=\"https:\/\/www.se.com\/ww\/en\/about-us\/newsroom\/news\/press-releases\/schneider-electric-to-build-four-control-centers-for-egypt%E2%80%99s-national-energy-grid-5f0ece5929490d6702214d3a\">four centers<\/a> within the next two months, Sheta added.<\/p>\n<p><strong>Schneider will also install 8k <\/strong><strong><a href=\"https:\/\/www.se.com\/eg\/en\/work\/products\/product-launch\/smart-ring-main-unit\/#:~:text=Seamlessly%20integrated%20with%20the%20Easergy,evolving%20challenges%20of%20electrical%20distribution.\">smart ring main units<\/a><\/strong><strong> (RMU)<\/strong> \u2014 an integrated electrical tool that helps reduce operational costs \u2014 in ten governorates as part of the project. The smart RMUs will help reduce energy losses through the national grid from a current 30% to 10%, Kamel said.<\/p>\n<p><strong>EV battery tech is also in the plans:<\/strong> Schneider is currently researching ways to generate and store electricity from solar energy to charge electric vehicle batteries, Sheta told us. Want to know the ins and outs of energy storage through batteries? Read our <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/66f6cfb6-b481-4fc9-af56-ea28883c2f01\">Hardhat<\/a> on how it could be the solution to Egypt\u2019s electricity oversupply problem.<\/p>\n<p><strong>Meanwhile: <\/strong>The company is separately looking to acquire an unnamed Egyptian digital transformation company in the near future, Kamel said, as it eyes investing more heavily in digital transformation over the next few years.<\/p>\n<p><strong>ALSO IN INFRASTRUCTURE- <\/strong><\/p>\n<p><strong>The government has agreed to lend the country\u2019s first <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6ebef003-0472-4513-93aa-ef59d457a5ea\">green<\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6ebef003-0472-4513-93aa-ef59d457a5ea\">hydrogen plant<\/a><\/strong><strong> electricity <\/strong>to help get it up and running, <a href=\"https:\/\/bit.ly\/3v4jWYP\">Al Borsa<\/a> reports. Orascom Construction, Norway\u2019s Scatec, Nassif Sawiris-backed Fertiglobe, and the Sovereign Fund of Egypt \u2014 the consortium building the 100 MW Ain Sokhna facility \u2014 requested the electricity <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c951a22a-6c5e-4d8a-bc92-94fb0928d696\">last week<\/a> to help expedite construction in time to showcase part of the project at COP27. The electricity will come from renewable sources connected to the national grid for a two-year period, and the plant will return the same amount to the grid once it starts operating. The plant is expected to be fully completed by 2024.<\/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\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/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\/energy-control-systems\/\">energy control systems<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure-watch\/\">infrastructure watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/schneider-electric\/\">Schneider Electric<\/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=\"543871\" 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=\"543871\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/fawry-gets-in-on-the-delivery-service-bandwagon\/\">\r\n                            Fawry gets in on the delivery service bandwagon                        <\/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\/22\/fawry-gets-in-on-the-delivery-service-bandwagon\/\" 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\/22\/fawry-gets-in-on-the-delivery-service-bandwagon\/')\">\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\/22\/fawry-gets-in-on-the-delivery-service-bandwagon\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Fawry gets in on the delivery service bandwagon&url=https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/fawry-gets-in-on-the-delivery-service-bandwagon\/\">\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\/22\/fawry-gets-in-on-the-delivery-service-bandwagon\/&title=Fawry gets in on the delivery service bandwagon\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Fawry+gets+in+on+the+delivery+service+bandwagon+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F02%2F22%2Ffawry-gets-in-on-the-delivery-service-bandwagon%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\/22\/fawry-gets-in-on-the-delivery-service-bandwagon\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/318.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"543872\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/fawry-gets-in-on-the-delivery-service-bandwagon\/318-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/318.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"318.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/318.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/318.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543871\" class=\"content-area-description single-story post-543871 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-couriers tag-enterpriseam tag-fawry tag-roaderz tag-startup-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Fawry enters the delivery service space with <\/strong><strong><a href=\"https:\/\/www.roaderz.com\/\">Roaderz<\/a><\/strong><strong>:<\/strong> E-payments giant Fawry is setting up Roaderz \u2014 a courier delivery platform \u2014 with founder and CEO of delivery service <a href=\"https:\/\/www.mylerz.com\/\">Mylerz<\/a> Samer Gharaibeh, tech solutions firm <a href=\"http:\/\/www.softectechnologies.com\/\">Softec<\/a>, and Confida Ventures Managing Partner Ammar Zawaideh, according to a <a href=\"https:\/\/www.zawya.com\/mena\/en\/press-releases\/story\/Fawry_and_Partners_establish_Roaderz_A_digital_mobility_platform_for_lastmile_delivery-ZAWYA20220221092956\/\">statement<\/a> from Fawry. Zawaideh will act as Roaderz CEO.<\/p>\n<p><strong>How Roaderz works: <\/strong>The company\u2019s crowdsourcing platform will connect couriers and small delivery firms with e-commerce merchants. Roaderz allows sellers to request couriers on demand or schedule their services in advance. People using their personal vehicles and looking to pocket some extra income will also be able to work as couriers.<\/p>\n<p><strong>It\u2019s a very crowded space: <\/strong>In the past few years, the Egyptian market has seen the introduction of a number of B2B and B2C delivery services. <a href=\"https:\/\/yallafelsekka.com\/\">Yalla Fel Sekka<\/a> and B2B e-commerce platform <a href=\"https:\/\/talabeyah.com\/\">Talabeyah<\/a> launched in early 2020, with <a href=\"https:\/\/shipblu.com\/\">ShipBlu<\/a> following suit shortly thereafter. Courier startups such as <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8b60c1eb-d801-4ea3-907e-c9b5f33e79fd\">Bosta<\/a>, <a href=\"https:\/\/startuplist.africa\/dreevo\">Dreevo<\/a>, and <a href=\"https:\/\/sprint.xyz\/\">Sprint<\/a> have also entered the space in the past few years, while ridesharing giant Uber and its subsidiary Careem have also <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1641c569-a723-4b38-aaa4-7b78c162fc48\">launched<\/a> courier services.<\/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\/couriers\/\">couriers<\/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\/roaderz\/\">Roaderz<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"543873\" 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=\"543873\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/cib-reports-another-earnings-record-with-4q-fy2021-results\/\">\r\n                            CIB reports another earnings record with 4Q\/FY2021 results                        <\/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\/22\/cib-reports-another-earnings-record-with-4q-fy2021-results\/\" 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\/22\/cib-reports-another-earnings-record-with-4q-fy2021-results\/')\">\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\/22\/cib-reports-another-earnings-record-with-4q-fy2021-results\/\">\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=CIB reports another earnings record with 4Q\/FY2021 results&url=https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/cib-reports-another-earnings-record-with-4q-fy2021-results\/\">\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\/22\/cib-reports-another-earnings-record-with-4q-fy2021-results\/&title=CIB reports another earnings record with 4Q\/FY2021 results\">\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=CIB+reports+another+earnings+record+with+4Q%2FFY2021+results+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F02%2F22%2Fcib-reports-another-earnings-record-with-4q-fy2021-results%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\/22\/cib-reports-another-earnings-record-with-4q-fy2021-results\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543873\" class=\"content-area-description single-story post-543873 post type-post status-publish format-standard hentry category-earnings-watch tag-cib tag-earnings-watch tag-enterpriseam tag-fintech 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>EGX30 heavyweight CIB reported a 17% year-on-year rise in net income<\/strong> in 4Q2021, turning in an EGP 3.4 bn bottom line on revenues of EGP 7.0 bn (+5% y-o-y). Management said in commentary appended to the bank\u2019s <a href=\"https:\/\/ent.news\/2022\/2\/CIB_4Q21_Press_Release.pdf\">4Q\/FY2021 earnings release (pdf)<\/a> that CIB continued to \u201clead the market \u2026 in both profitability and solvency\u201d throughout 2021. CIB turned in net income of EGP 13.3 bn (+30% y-o-y) for the full year on revenues of EGP 26.7 bn (+3%).<\/p>\n<p><strong>What drove growth in profitability? <\/strong>The bottom line performance was \u201cexceptionally strong\u201d thanks to CIB\u2019s \u201cunique coverage and flexible balance sheet structure,\u201d the statement said. Local currency lending grew a sharp 29% and foreign-currency loans also continued to grow. Profitability was also supported by an uptick in \u201ccontingent business and foreign exchange trading activities, generating a significant rebound in core fees and commissions.\u201d Return on average equity came in at a strong 21.9%, but 255 basis points for the year.<\/p>\n<p><strong>Digital transformation takes hold: <\/strong>CIB said it finished the year ranked number one in \u201cin governmental and commercial domestic E-payment transactions.\u201d It had more than 1 mn users of its consumer online banking services at year\u2019s end and posted a more than 100% increase in transaction value for the year, with customers transferring some EGP 861 bn across the bank\u2019s digital channels.<\/p>\n<p><strong>Looking ahead: <\/strong>CIB\u2019s management team said it would continue to push retail and corporate loan growth to \u201csupport the economy.\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\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/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=\"543874\" 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=\"543874\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/juhayna-taps-new-group-ceo\/\">\r\n                            Juhayna taps new group CEO                        <\/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\/22\/juhayna-taps-new-group-ceo\/\" 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\/22\/juhayna-taps-new-group-ceo\/')\">\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\/22\/juhayna-taps-new-group-ceo\/\">\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=Juhayna taps new group CEO&url=https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/juhayna-taps-new-group-ceo\/\">\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\/22\/juhayna-taps-new-group-ceo\/&title=Juhayna taps new group CEO\">\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=Juhayna+taps+new+group+CEO+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F02%2F22%2Fjuhayna-taps-new-group-ceo%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\/22\/juhayna-taps-new-group-ceo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543874\" class=\"content-area-description single-story post-543874 post type-post status-publish format-standard hentry category-moves tag-enterpriseam tag-juhayna tag-moves wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Juhayna Food Industries (JUFO)<\/strong> has appointed <strong>Niels Thomsen<\/strong> (<a href=\"https:\/\/www.linkedin.com\/in\/niels-thomsen-5676b068\">Linkedin<\/a>) as <strong>group CEO<\/strong>, the company announced in a statement (<a href=\"https:\/\/ent.news\/2022\/2\/Juhayna-PRL-200222.pdf\">pdf<\/a>). Thomsen is a familiar face at JUFO, having previously worked as the dairy and juice giant\u2019s factory director for seven years. He left Juhayna in 2013 to found his own firm in Denmark, and was most recently the director of production at Danish Crown China.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/juhayna\/\">Juhayna<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"543875\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"543875\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/543875\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543875\" class=\"content-area-description single-story post-543875 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.sodic.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/V-editions-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"543876\" 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=\"543876\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/last-nights-talk-shows-efg-hermes-and-due-diligence-on-nbfs-acquisitions-ukraine\/\">\r\n                            Last Night\u2019s Talk Shows: EFG Hermes and due diligence on NBFS acquisitions + Ukraine                        <\/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\/22\/last-nights-talk-shows-efg-hermes-and-due-diligence-on-nbfs-acquisitions-ukraine\/\" 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\/22\/last-nights-talk-shows-efg-hermes-and-due-diligence-on-nbfs-acquisitions-ukraine\/')\">\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\/22\/last-nights-talk-shows-efg-hermes-and-due-diligence-on-nbfs-acquisitions-ukraine\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Last Night\u2019s Talk Shows: EFG Hermes and due diligence on NBFS acquisitions + Ukraine&url=https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/last-nights-talk-shows-efg-hermes-and-due-diligence-on-nbfs-acquisitions-ukraine\/\">\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\/22\/last-nights-talk-shows-efg-hermes-and-due-diligence-on-nbfs-acquisitions-ukraine\/&title=Last Night\u2019s Talk Shows: EFG Hermes and due diligence on NBFS acquisitions + Ukraine\">\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+EFG+Hermes+and+due+diligence+on+NBFS+acquisitions+%2B+Ukraine+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F02%2F22%2Flast-nights-talk-shows-efg-hermes-and-due-diligence-on-nbfs-acquisitions-ukraine%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\/22\/last-nights-talk-shows-efg-hermes-and-due-diligence-on-nbfs-acquisitions-ukraine\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543876\" class=\"content-area-description single-story post-543876 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-climate-change tag-efg-hermes tag-enterpriseam tag-first-abu-dhabi-bank tag-last-nights-talk-shows tag-ma-watch tag-russia tag-ukraine wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>There was a fair amount of business news on the airwaves last night, triggered by <\/strong><strong>new rules on non-bank acquisitions and FAB\u2019s bid for EFG Hermes. <\/strong>First Abu Dhabi Bank\u2019s acquisition offer was likely an incentive for the Financial Regulatory Authority to announce that approval from the authority would soon be required before conducting due diligence on non-banking financial institutions, head of industry lobby group the Egyptian Capital Market Association (ECMA) Mohamed Maher said in a phone-in with Kelma Akhira (<a href=\"https:\/\/www.youtube.com\/watch?v=8ukQrFpF5fw\">watch, runtime: 4:37<\/a>). Former head of the Egyptian Private Equity Association Hani Tawfik also called Kelma Akhira (<a href=\"https:\/\/www.youtube.com\/watch?v=oF_OwWXgxBY\">watch, runtime: 2:35<\/a>) to discuss EFG Hermes\u2019 appointment of Goldman Sachs as lead advisor. We have more on the story in this morning\u2019s M&A watch section, above.<\/p>\n<p><strong>The escalating conflict between Russia and Ukraine also weighed on the talking heads\u2019 minds last night.<\/strong> Egypt has the capacity to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9116ce66-29a8-46af-a031-9619f15bfa0f\">step in<\/a> to export natural gas to Europe in the event that Russian supply dries up due to the geopolitical crisis over Ukraine, former oil minister Ossama Kamal said in a call with El Hekaya (<a href=\"https:\/\/www.youtube.com\/watch?v=Z_Squ3U1Zx8\">watch, runtime: 7:35<\/a>). Political pundit Abdel Moneim Said also dropped in to Yahduth Fi Misr (<a href=\"https:\/\/www.youtube.com\/watch?v=MZm9wQviF8I\">watch, runtime: 1:34<\/a>) to weigh in on the tensions.<\/p>\n<p><strong>Also on the airwaves last night:<\/strong><\/p>\n<ul>\n<li><strong>Changes to the \u201cold rent\u201d law governing individuals\u2019 rent of residential properties<\/strong> will likely be addressed over multiple phases, Housing Committee Undersecretary Tarek Shoukry said. (<a href=\"https:\/\/www.youtube.com\/watch?v=WcxZzCAxRbY\">Lamis El Hadidi on Kelma Akhira | watch, runtime: 2:48<\/a>)<\/li>\n<li><strong>US climate envoy John Kerry\u2019s visit to Cairo <\/strong>reaffirms the US\u2019 support of Egypt ahead of COP27. (<a href=\"https:\/\/www.youtube.com\/watch?v=J82FSpD5qr4\">Lobna Assal on Al Hayah Al Youm | watch, runtime: 1:43<\/a>)<\/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\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/first-abu-dhabi-bank\/\">First Abu Dhabi Bank<\/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\/ma-watch\/\">M&amp;A Watch<\/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\/ukraine\/\">Ukraine<\/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=\"543877\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-38zvjaq\" data-v=\"4\" data-block-id=\"38zvjaq\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-38zvjaq-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-38zvjaq-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-an1ss05\" data-v=\"4\" data-block-id=\"an1ss05\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-an1ss05-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-an1ss05-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27487.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Live More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-5a0iapu\" data-v=\"4\" data-block-id=\"5a0iapu\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-5a0iapu-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-5a0iapu-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-tug0b49\" data-v=\"4\" data-block-id=\"tug0b49\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-tug0b49-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-tug0b49-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-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=\"543878\" 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=\"543878\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/egypt-in-the-news-more-on-how-war-in-ukraine-could-make-itself-felt-at-home\/\">\r\n                            Egypt in the News: More on how war in Ukraine could make itself felt at home                        <\/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\/22\/egypt-in-the-news-more-on-how-war-in-ukraine-could-make-itself-felt-at-home\/\" target=\"_blank\">\n                    Open in new tab           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       <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543878\" class=\"content-area-description single-story post-543878 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-construction tag-enterpriseam tag-eu tag-giulio-regeni tag-human-rights tag-italy tag-russia tag-ukraine tag-wheat wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>An escalation of the conflict between Russia and Ukraine could send already soaring <\/strong><strong>food prices even higher<\/strong>, especially for countries \u2014 like Egypt \u2014 that heavily rely on the two countries\u2019 grain imports, the <a href=\"https:\/\/www.nytimes.com\/2022\/02\/21\/business\/economy\/ukraine-russia-economy.html\">New York Times<\/a> reports. Higher prices would in turn impact food security for low income families in North Africa, the <a href=\"https:\/\/www.telegraph.co.uk\/global-health\/climate-and-people\/russian-invasion-risks-pushing-families-across-middle-east-north\/\">Telegraph<\/a> reports. We imported <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a38a8f80-51ed-4cc9-83ab-64e4d1ea633c\">around 50%<\/a> of our wheat from Russia last year, while 30% came from Ukraine.<\/p>\n<p><strong>Also making headlines: <\/strong><\/p>\n<ul>\n<li><strong>The demolition of thousands of homes to make way for new construction<\/strong> threatens to alienate lower and middle class neighborhoods whose inhabitants are being displaced. (<a href=\"https:\/\/www.theafricareport.com\/176517\/egypts-demolitions-crisis-is-costing-sisi-his-main-support-base\/\">The Africa Report<\/a>)<\/li>\n<li><strong>EU backs Italy on Regeni investigation: <\/strong>The EU is requesting that Egyptian authorities cooperate with their Italian counterparts in the investigation into Giulio Regeni\u2019s death. (<a href=\"https:\/\/www.ansamed.info\/ansamed\/en\/news\/sections\/politics\/2022\/02\/17\/eu-asks-egypt-to-collaborate-on-regeni-investigations_5c08195a-2e55-4eb9-865a-db83b43fe2bc.html?idPhoto=1\">Ansa Med<\/a>)<\/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\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/giulio-regeni\/\">Giulio Regeni<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/italy\/\">Italy<\/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\/ukraine\/\">Ukraine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"543879\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"543880\" 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=\"543880\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/nrea-looks-for-international-support-to-upgrade-experimental-nuclear-reactor\/\">\r\n                            NREA looks for international support to upgrade experimental nuclear reactor                        <\/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\/22\/nrea-looks-for-international-support-to-upgrade-experimental-nuclear-reactor\/\" 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\/22\/nrea-looks-for-international-support-to-upgrade-experimental-nuclear-reactor\/')\">\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\/22\/nrea-looks-for-international-support-to-upgrade-experimental-nuclear-reactor\/\">\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=NREA looks for international support to upgrade experimental nuclear reactor&url=https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/nrea-looks-for-international-support-to-upgrade-experimental-nuclear-reactor\/\">\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\/22\/nrea-looks-for-international-support-to-upgrade-experimental-nuclear-reactor\/&title=NREA looks for international support to upgrade experimental nuclear reactor\">\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=NREA+looks+for+international+support+to+upgrade+experimental+nuclear+reactor+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F02%2F22%2Fnrea-looks-for-international-support-to-upgrade-experimental-nuclear-reactor%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\/22\/nrea-looks-for-international-support-to-upgrade-experimental-nuclear-reactor\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543880\" class=\"content-area-description single-story post-543880 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-belgium tag-djibouti tag-el-garhy-steel tag-enterpriseam tag-ezz-steel tag-gold tag-industrial-development-authority tag-kazakhstan tag-lazurde tag-logistics-zones tag-mastercard tag-new-and-renewable-energy-authority tag-steel-license tag-sudan wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Kazakhstan or Belgium could help upgrade Inshas nuclear reactor: <\/strong>The New and Renewable Energy Authority (NREA) is reportedly looking into upgrading the experimental nuclear reactor in Inshas in Sharqiya and is considering sending experts to Kazakhstan and Belgium for research purposes, <a href=\"https:\/\/bit.ly\/3s4Zx3L\">Al Mal<\/a> reported, quoting unidentified sources it claims have knowledge of the matter. The NREA reportedly rejected a bid from a <a href=\"https:\/\/enterprise.press\/stories\/2018\/05\/21\/what-were-tracking-this-week-281\/\">Russian company<\/a> to upgrade the reactor or inaugurate another one because the USD 450 mn price tag was said to be too high.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>Mastercard Market Trends <\/strong><strong><a href=\"https:\/\/newsroom.mastercard.com\/mea\/press-releases\/mastercard-expands-its-business-intelligence-platform-for-financial-institutions-in-the-middle-east-and-africa\/\">expands to MEA<\/a><\/strong><strong>:<\/strong> The business intelligence platform offers services including market assessment reports that cover a handful of MEA countries, including Egypt.<\/li>\n<li><strong>El Garhy Steel and Ezz Steel were reportedly <\/strong><strong><a href=\"https:\/\/alborsaanews.com\/2022\/02\/21\/1511568\">among the bidders<\/a><\/strong><a href=\"https:\/\/alborsaanews.com\/2022\/02\/21\/1511568\"><\/a>for the Industrial Development Authority\u2019s new <strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7ab4634e-179e-46f7-84a0-0474aa707e28\">steel licenses<\/a><\/strong>.<\/li>\n<li>Cabinet has <a href=\"https:\/\/alborsaanews.com\/2022\/02\/21\/1511399\">approved<\/a> a new <strong>pellet manufacturing license for state-owned <\/strong><strong>Delta Steel<\/strong> to manufacture 500k tons of pellet annually instead of 70k tons, ending a dispute with the Industrial Development Authority after it refused to renew the company\u2019s license.<\/li>\n<li>Gold and jewelry maker <strong>L\u2019Azurde says it will <\/strong><strong><a href=\"https:\/\/www.cnbcarabia.com\/news\/view\/94137\">invest over EGP 100 mn<\/a><\/strong> in Egypt in 2022.<\/li>\n<li><strong>The General Authority for Land and Dry Ports <\/strong>is looking into <a href=\"https:\/\/bit.ly\/359o6DM\">setting up<\/a><strong><a href=\"https:\/\/bit.ly\/359o6DM\">logistics zones<\/a><\/strong> in <strong>Sudan <\/strong>and <strong>Djibouti. <\/strong>Egyptian and Djiboutian officials also <a href=\"https:\/\/bit.ly\/3sSRtlT\">met yesterday<\/a> to discuss the Djibouti logistics zone, which has been <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/70e459fc-d5fe-42df-a924-c7f5f10a051c\">in the works<\/a> for years.<\/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\/belgium\/\">Belgium<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/djibouti\/\">Djibouti<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/el-garhy-steel\/\">El Garhy Steel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ezz-steel\/\">Ezz Steel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gold\/\">gold<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industrial-development-authority\/\">Industrial Development Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kazakhstan\/\">Kazakhstan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lazurde\/\">L\u2019Azurde<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics-zones\/\">logistics zones<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mastercard\/\">Mastercard<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/new-and-renewable-energy-authority\/\">New and Renewable Energy Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/steel-license\/\">steel license<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sudan\/\">Sudan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"543881\" 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=\"543881\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/womens-prayer-areas-to-open-for-ramadan\/\">\r\n                            Women\u2019s prayer areas to open for Ramadan                        <\/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\/22\/womens-prayer-areas-to-open-for-ramadan\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n           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Ramadan&url=https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/womens-prayer-areas-to-open-for-ramadan\/\">\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\/22\/womens-prayer-areas-to-open-for-ramadan\/&title=Women\u2019s prayer areas to open for Ramadan\">\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=Women%E2%80%99s+prayer+areas+to+open+for+Ramadan+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F02%2F22%2Fwomens-prayer-areas-to-open-for-ramadan%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\/22\/womens-prayer-areas-to-open-for-ramadan\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543881\" class=\"content-area-description single-story post-543881 post type-post status-publish format-standard hentry category-covid-watch tag-boris-johnson tag-covid-19 tag-enterpriseam tag-ramadan wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/275369461440942\">reported<\/a><\/strong> <strong>2,003 new covid-19 infections yesterday<\/strong>, down fractionally from 2,009 the day before. Egypt has now disclosed a total of 471,460 confirmed cases of covid-19. The ministry also reported 54 new deaths, bringing the country\u2019s total death toll to 23,806.<\/p>\n<p><strong>Our third pandemic Ramadan will look a lot like last year \u2013 with one small <\/strong><strong>difference: <\/strong>Women\u2019s prayer areas will be re-opened for the first time since the start of the pandemic, according to a <a href=\"https:\/\/www.facebook.com\/AwkafOnline\/posts\/293790252844494\">Ministry of Religious Endowments<\/a> statement. Mass prayers will be permitted in all mosques across the country during the holy month. All measures governing mass prayers announced <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/50cd1944-c39a-4919-92fc-a65d8c133002\">last year<\/a> \u2014 including limiting evening Taraweeh prayers to half an hour, wearing face masks, and maintaining social distancing when inside the mosques \u2014 will remain in effect this year.<\/p>\n<p><strong>Good news for the fully vaccinated: Your jabs could last you for years.<\/strong> Three doses of a covid-19 vaccine should be enough to protect against severe illness or death after contracting any covid-19 variant for years, a raft of recent studies cited by the <a href=\"https:\/\/www.nytimes.com\/2022\/02\/21\/health\/covid-vaccine-antibodies-t-cells.html\">New York Times<\/a> suggest. While three doses provide more protection against highly contagious variants like Omicron, even just two doses could be enough considering the variety of antibodies that vaccines produce, including specialized immune cells like T cells and B cells, both of which are powerful at combating both old and new strains.<\/p>\n<p><strong>UK Prime Minister Boris Johnson is set to lift all covid-19 restrictions within days,<\/strong> as part of the country\u2019s plan to \u201clive with COVID,\u201d which would make the UK the first country in Europe to scrap five-day isolation requirements for infected individuals, <a href=\"https:\/\/www.reuters.com\/world\/uk\/uks-johnson-set-scrap-covid-restrictions-2022-02-20\/\">Reuters<\/a> reports. But the timing of the announcement \u2014 just days after the Queen herself <a href=\"https:\/\/apnews.com\/article\/queen-elizabeth-ii-coronavirus-pandemic-entertainment-health-royalty-f627c5c9b2d95ead14cf10c33c8f4f71\">contracted<\/a> covid-19 \u2014 drew backlash from critics, who said Johnson was calling off the cavalry before the battle was won.<\/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\/boris-johnson\/\">Boris Johnson<\/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\/ramadan\/\">Ramadan<\/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=\"543882\" 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=\"543882\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/uae-has-no-plans-to-start-taxing-personal-income-aramco-rides-the-oil-boom\/\">\r\n                            UAE has no plans to start taxing personal income + Aramco rides the oil boom                        <\/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\/22\/uae-has-no-plans-to-start-taxing-personal-income-aramco-rides-the-oil-boom\/\" 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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His reassurance comes a few weeks after the UAE said it would introduce a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/138efa1a-8db5-4ecb-adc3-92a7e30ff806\">9% federal corporate tax<\/a> from June 2023, ending the country\u2019s tax-free status for the first time. Companies have received the new levy in a \u201cpositive manner,\u201d said the minister. Dubai is already considering cutting fees for businesses in a bid to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/816d5a48-7bcb-43e0-987e-cdfc78e5575e\">soften the impact<\/a> of the new tax.<\/p><p><strong>Aramco shares hit all-time high on signs of swelling demand:<\/strong> Saudi Aramco shares surged following bullish remarks on oil demand from the company\u2019s CEO, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-02-21\/aramco-sees-good-signs-oil-demand-s-rising-as-shares-hits-record?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg reports<\/a>. Aramco shares rose 4.1% for a record close yesterday, pushing the company\u2019s market valuation up by USD 83 bn to hit USD 2.1 tn. \u201cWith the global recovery we\u2019re seeing today, there is more demand for products and we see that from different enclaves, especially in Asia,\u201d CEO Amin Nasser said earlier in the day during a speech in Riyadh.<\/p><p><strong>The price of Brent has risen around 20% so far in 2022 <\/strong>to USD 95.39 per barrel as post-lockdown demand continues to pick up and key producers find it difficult to increase supply. Many are forecasting oil prices to breach USD 100 in the near future, a view that is <a href=\"https:\/\/www.wsj.com\/articles\/frackers-push-into-once-dead-shale-patches-as-oil-nears-100-a-barrel-11645439400\">prompting frackers to get back into the game<\/a> at some of their most challenging sights. Still, the US is <a href=\"https:\/\/www.wsj.com\/articles\/fracking-oil-prices-shale-boom-11643824329\">bracing for the end of the industry<\/a>.<\/p><p><strong>And OPEC+ probably isn\u2019t changing tack: <\/strong>The energy ministers of the cartel\u2019s four biggest producers have indicated that monthly production hikes should not be increased faster when it next meets on 2 March, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-02-21\/opec-delegates-see-another-small-supply-boost-despite-pressure?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> reports. OPEC+ has in recent months stuck to its strategy of gradual monthly production hikes, despite <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4ccedc89-4f99-4e14-8767-7678d0e73c44\">calls<\/a> to up supplies more rapidly amid spiraling prices.<\/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>11,502<\/p>\n<\/td>\n<td>\n<p>+1.2% (YTD: -3.7%)<\/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>12,562<\/p>\n<\/td>\n<td>\n<p>+0.8% (YTD: +11.3%)<\/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>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>9,045<\/p>\n<\/td>\n<td>\n<p>-1.2% (YTD: +6.6%)<\/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>3,311<\/p>\n<\/td>\n<td>\n<p>-0.5% (YTD: +3.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,349<\/p>\n<\/td>\n<td>\n<p>-0.7% (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>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,484<\/p>\n<\/td>\n<td>\n<p>-0.4% (YTD: +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>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 95.39<\/p>\n<\/td>\n<td>\n<p>+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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 4.77<\/p>\n<\/td>\n<td>\n<p>+7.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,912<\/p>\n<\/td>\n<td>\n<p>+0.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 37,561<\/p>\n<\/td>\n<td>\n<p>-3.4% (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 1.2% at yesterday\u2019s close<\/strong> on turnover of EGP 625 mn (39% below the 90-day average). Regional investors were net buyers. The index is down 3.7% YTD.<\/p><p><strong>In the green: <\/strong>Ezz Steel (+7.6%), Credit Agricole (+4.8%) and Fawry (+3.7%).<\/p><p><strong>In the red: <\/strong>Mopco (-2.3%), Ibnsina Pharma (-2.2%) and Egypt Kuwait Holding-EGP (-2.1%).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dubai\/\">Dubai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/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\/oil-and-gas\/\">oil and gas<\/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\/planet-finance\/\">Planet Finance<\/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\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ukraine\/\">Ukraine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"543883\" 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=\"543883\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">15<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/lots-of-cooperation-with-jordan-on-logistics-agriculture-and-education\/\">\r\n                            Lots of cooperation with Jordan on logistics, agriculture, and education                        <\/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\/22\/lots-of-cooperation-with-jordan-on-logistics-agriculture-and-education\/\" 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\/22\/lots-of-cooperation-with-jordan-on-logistics-agriculture-and-education\/')\">\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\/22\/lots-of-cooperation-with-jordan-on-logistics-agriculture-and-education\/\">\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=Lots of cooperation with Jordan on logistics, agriculture, and education&url=https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/lots-of-cooperation-with-jordan-on-logistics-agriculture-and-education\/\">\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\/22\/lots-of-cooperation-with-jordan-on-logistics-agriculture-and-education\/&title=Lots of cooperation with Jordan on logistics, agriculture, and education\">\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=Lots+of+cooperation+with+Jordan+on+logistics%2C+agriculture%2C+and+education+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F02%2F22%2Flots-of-cooperation-with-jordan-on-logistics-agriculture-and-education%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\/22\/lots-of-cooperation-with-jordan-on-logistics-agriculture-and-education\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543883\" class=\"content-area-description single-story post-543883 post type-post status-publish format-standard hentry category-diplomacy tag-armed-forces tag-covid-19 tag-diplomacy tag-enterpriseam tag-france tag-jordan wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Egypt, Jordan sign raft of cooperation agreements as Joint Higher Committe<\/strong><strong>e <\/strong><strong>wraps up<\/strong><strong>:<\/strong> Egypt and Jordan signed MoUs to cooperate on logistics zones, youth and higher education programs, agricultural quarantine, and media, according to a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/343424364494657\">Cabinet statement<\/a>. The Electricity Ministry had <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/342832787887148\">said on Sunday<\/a> that an agreement would also be signed on efforts to double the capacity of the electricity link between the two countries to 1 GW, but we haven\u2019t seen anything on that front.<\/p>\n<p><strong>Jordanian Prime Minister Bisher Al Khasawneh <\/strong><strong><a href=\"https:\/\/enterprise.press\/#tldr-story-02\">tested positive<\/a><\/strong><strong> for covid-19<\/strong> following the meeting, leading to the cancellation of scheduled talks between him and President Abdel Fattah El Sisi.<\/p>\n<p><strong>Egypt and France have kicked off joint air and naval drills<\/strong> in the Mediterranean, the Armed Forces spokesperson said in a <a href=\"https:\/\/www.facebook.com\/EgyArmySpox\/posts\/2570801263050840?__cft__[0]=AZXxJ2N_4N_6ms8GQaYCEDQoxlDS6NKz3foPrKvIUy-8x9o-90uPfxB-7lqyA2fsy37TqcapclMBo4gwWDvbvvV7qcpWtAryz24By4puoI_woELVdGUcdU7Jhu8ARTQEM07-V2r0lzlNyzF7qXmreR35wHG0LlC-qfkulkJHyLFF3p-2emNRFHRGmLFjXvb7ruw&__tn__=%2CO%2CP-R\">statement<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/armed-forces\/\">Armed Forces<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/france\/\">France<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jordan\/\">Jordan<\/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=\"543884\" 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=\"543884\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">16<\/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\/22\/israel-wants-to-quadruple-trade-with-morocco\/\">\r\n                            Israel wants to quadruple trade with Morocco                        <\/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\/22\/israel-wants-to-quadruple-trade-with-morocco\/\" 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\/22\/israel-wants-to-quadruple-trade-with-morocco\/')\">\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\/22\/israel-wants-to-quadruple-trade-with-morocco\/\">\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=Israel wants to quadruple trade with Morocco&url=https:\/\/enterpriseam.com\/egypt\/2022\/02\/22\/israel-wants-to-quadruple-trade-with-morocco\/\">\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\/22\/israel-wants-to-quadruple-trade-with-morocco\/&title=Israel wants to quadruple trade with Morocco\">\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=Israel+wants+to+quadruple+trade+with+Morocco+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F02%2F22%2Fisrael-wants-to-quadruple-trade-with-morocco%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\/22\/israel-wants-to-quadruple-trade-with-morocco\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543884\" class=\"content-area-description single-story post-543884 post type-post status-publish format-standard hentry category-around-the-world tag-around-the-world tag-enterpriseam tag-israel tag-morocco wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>True friends do more trade:<\/strong> Israel wants to nearly quadruple its annual trade volume with Morocco to USD 500 mn, Israeli Economy Minister Orna Barbivai told reporters during a visit to Rabat, according to <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/morocco-israel-sign-trade-deal-2022-02-21\/\">Reuters<\/a>. The two countries yesterday signed an agreement to increase trade and investment cooperation in aerospace, automobile, agri-food, textile and pharma industries, in the latest step following the normalization of relations that took place in late 2020.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/around-the-world\/\">Around the World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/morocco\/\">Morocco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section going-green wp-block-group issue-section\" id=\"543885\">\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\">16<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/the-cost-of-reaching-net-zero-by-2050-usd-275-tn\/\">\r\n                            The cost of reaching net-zero by 2050: USD 275 tn<\/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\/the-cost-of-reaching-net-zero-by-2050-usd-275-tn\/\" 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\/goinggreens\/the-cost-of-reaching-net-zero-by-2050-usd-275-tn\/')\">\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\/goinggreens\/the-cost-of-reaching-net-zero-by-2050-usd-275-tn\/\">\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=The cost of reaching net-zero by 2050: USD 275 tn&url=https:\/\/enterpriseam.com\/egypt\/goinggreens\/the-cost-of-reaching-net-zero-by-2050-usd-275-tn\/\">\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\/goinggreens\/the-cost-of-reaching-net-zero-by-2050-usd-275-tn\/&title=The cost of reaching net-zero by 2050: USD 275 tn\">\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+cost+of+reaching+net-zero+by+2050%3A+USD+275+tn+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Fgoinggreens%2Fthe-cost-of-reaching-net-zero-by-2050-usd-275-tn%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\/the-cost-of-reaching-net-zero-by-2050-usd-275-tn\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/319.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=\"543886\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/the-cost-of-reaching-net-zero-by-2050-usd-275-tn\/319-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/319.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"319.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/319.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/319.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-543885\" class=\"content-area-description post-543885 goinggreen type-goinggreen status-publish has-post-thumbnail hentry tag-climate-change tag-decarbonization tag-enterprise-going-green tag-enterpriseam tag-green-economy tag-mckinsey-and-co tag-network-for-greening-the-financial-system tag-oil-and-gas 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>What a net-zero transition would actually cost the world:<\/strong> Around USD 9.2 tn will need to be spent globally every year until 2050 if the world is to achieve net zero emissions by the middle of the century, according to <a href=\"https:\/\/www.mckinsey.com\/business-functions\/sustainability\/our-insights\/the-economic-transformation-what-would-change-in-the-net-zero-transition\">a report<\/a> that provides a stark reminder of the scale of the challenge ahead. In its analysis of the Net Zero 2050 scenario, McKinsey estimated that as much as USD 275 tn \u2014 equivalent to 7.5% of global GDP \u2014 will be required to be invested in physical assets over the next three decades to meet the climate target agreed at the Paris climate summit.<\/p>\n<p><strong>This would amount to nothing less than a complete transformation of how we organize <\/strong><strong>the global economy<\/strong>, from lowering demand for high-emissions products and channeling investment into the green economy, to reorienting the world\u2019s labor markets towards zero-emission activities.<\/p>\n<p><strong>This price tag goes beyond past estimates<\/strong>, which typically only account for necessary energy investments, and instead includes \u201cadditional spending categories such as assets that use energy (for example, the full cost of passenger cars and heat pumps), capital expenditures in agriculture and forestry, and some continued spend in high-emissions physical assets like fossil fuel-based vehicles and power assets.\u201d<\/p>\n<p><strong>This isn\u2019t all new spending though:<\/strong> Some of it will be reallocated from high-emissions assets such as coal-fired power plants and standard petroleum-fuelled vehicles, on which governments around the world currently spend USD 3.7 tn each year. McKinsey estimates that around a third of this will need to be redirected towards low-emissions assets.<\/p>\n<p><strong>The transition away from fossil fuels will cost the world 185 mn jobs \u2014 and create 200 mn <\/strong><strong>new ones. <\/strong>Job gains are expected to be significant in the green economy, with the most significant change in the job market being the reallocation of jobs. Losses will be seen in jobs in emissions-intensive sectors, agriculture and food.<\/p>\n<p><strong>Demand shifts will change our physical assets:<\/strong> The net-zero transition will retire some physical assets and require the decarbonization \/ replacement of existing assets, according to the report, which also suggests that spending on physical assets is set to increase by 2050. EVs and fuel cell-electric cars are expected to increase from 5% of new car sales to almost 100% in 2050, increasing costs for consumers in the short run as they acquire new assets, but decreasing the cost of fuel in the long run. Similar shifts will happen in home heating systems and steel plants.<\/p>\n<p><strong>Goods, services and food are set to change: <\/strong>The analysis concludes that there will be shifts in demand for goods and services, with oil and gas production dropping by 55% and 70%, respectively, and coal for energy being almost completely phased out. The change in food systems will result in dietary shifts to low-emissions proteins like poultry. Demand for low-emission energy sources, on the other hand, is expected to double, with hydrogen and biofuel production set to grow 10 times.<\/p>\n<p><strong>Some sectors are going to come under a lot of pressure:<\/strong> The report estimates that companies in the steel and cement industries will see production costs increase by 30% and 45% respectively as CO2-intensive assets are phased out and capital is reallocated to cleaner sectors.<\/p>\n<p><strong>And the cost of power generation is going to up \u2014 until 2040:<\/strong> McKinsey expects the cost of generating, distributing and storing energy to rise 25% by 2040 compared to 2020 levels due to the investment needed to expand renewable generation and storage capacity, as well as the ongoing costs of maintaining fossil-fuel based plants. After 2040, operating costs are expected to decline, falling 60% by the middle of the century from 2020 levels.<\/p>\n<p><strong>Managing the transition in an orderly manner is key: <\/strong>The complex transformation required to shift to net-zero contains risks, particularly if it is disorderly. The risks include not having a clear \u201cpathway\u201d for the transition, accounting for necessary adjustments for a successful transition and finally, the natural constraints built into the transition. Shortages and price rises could result if the transition is mismanaged.<\/p>\n<p><strong>Delaying the transition will increase costs and risks: <\/strong>One of the biggest risks of delaying the transition is failing to limit warming to 1.5\u00b0C. By setting clear pathways to net-zero emissions, the risks associated with significant and abrupt policy changes are likely to be more manageable, easing job transitions and making it less likely that the transition will adversely affect vulnerable communities.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top green economy stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Lafarge Egypt<\/strong> decreased its energy consumption by <strong><a href=\"https:\/\/ent.news\/2022\/2\/Lafarge-and-Cop27-PRL.pdf\">10% (pdf)<\/a><\/strong> in 2021 and increased its use of alternative fuels to 20% of total consumption.<\/li>\n<li><strong>Energy services firm <\/strong><strong><a href=\"https:\/\/www.bakerhughes.com\/\">Baker Hughes<\/a><\/strong> is <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/341947444642349\">discussing<\/a> cooperation with the government on <strong>adopting <\/strong><strong>low-emission energy tech<\/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\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/decarbonization\/\">decarbonization<\/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\/mckinsey-and-co\/\">McKinsey and Co<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/network-for-greening-the-financial-system\/\">Network for Greening the Financial System<\/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                    <\/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=\"543887\" 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\/22\/543887\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-543887\" class=\"content-area-description single-story post-543887 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 a 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>1H2022: The Transport Ministry <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/334230905414003\">to sign<\/a> a memorandum of understanding with <a href=\"https:\/\/www.adports.ae\/\">Abu Dhabi Ports<\/a> to set up a transport route across the Nile to transport products from Al Canal\u2019s Minya<a href=\"https:\/\/enterprise.press\/stories\/2018\/01\/23\/uaes-al-ghurair-to-invest-usd-1-bn-in-sugar-agriculture-project\/\">sugar factory<\/a>.<\/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>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>19-21 February (Saturday-Monday): <a href=\"https:\/\/www.facebook.com\/NebuGoldExpo\">Nebu Expo for Gold and Jewelry 2022<\/a>.<\/p>\n<p>20-21 February (Sunday-Monday): The <a href=\"https:\/\/rsmtl.com\/en\/\">Red Sea Maritime Transport and Logistics Conference<\/a> (RSMTL), Nile Ritz Carlton, Cairo.<\/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>22 February (Tuesday): The Egyptian National Railway is holding a forum to gauge public interest in its plans to delegate the management and operations of freight transport to the private sector.<\/p>\n<p>22-24 February (Tuesday-Thursday): <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/332874495549644\">Investment Forum<\/a>, General Authority For Investments (GAFI) Main Office, Nasr City.<\/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>27 February (Sunday): British-Egyptian Business Association (BEBA) green finance event with Finance Minister Mohamed Maait, Semiramis Intercontinental, Cairo<\/p>\n<p>28 February (Monday): Applications close for the <a href=\"https:\/\/www.plugandplaytechcenter.com\/cairo\/#apply\">incubator and accelerator program<\/a> run by Information Technology Industry Development Agency (ITIDA), US-based VC firm Plug and Play, and USAID.<\/p>\n<p>28 February (Monday): <a href=\"https:\/\/ent.news\/2022\/2\/Speed-Medical-statement-21-2-22.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>28 February- 1 March (Monday-Tuesday): <a href=\"https:\/\/futuredc.org\/\">The Future of Data Centers Summit<\/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<\/a><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/318887153615045\">Tourism Organization Middle East committee meeting<\/a>.<\/p>\n<p>March: The Salam \u2013 new administrative capital \u2013 10th of Ramadan Light Rail Train (LRT) line <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/327078179462609\">will start operating<\/a>.<\/p>\n<p>March: The new multi-purpose station at <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b705927d-ff68-4720-8bae-3b3dfde3705d\">Dekheila Port and the revamped Ain Sokhna Port<\/a> will start operating.<\/p>\n<p>March: General Authority for Land and Dry Ports <a href=\"https:\/\/bit.ly\/3IbQQKI\">to issue the condition booklets<\/a> for the operations of the Tenth of Ramadan dry port.<\/p>\n<p>3 March (Thursday): Fawry\u2019s<a href=\"https:\/\/ent.news\/2022\/2\/Fawry-extraordinary-general-assembly-capital-increase-3-March.pdf\">extraordinary general assembly (pdf)<\/a> to vote on EGP 800 mn capital increase.<\/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>25 March (Friday): Egypt will host Senegal in the first leg of their 2022 FIFA World Cup qualifiers' playoff (TBC).<\/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>28 March (Monday): The second leg of the 2022 FIFA World Cup qualifiers' playoff between Egypt and Senegal (TBC).<\/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>April: Fuel pricing committee meets to decide quarterly fuel prices.<\/p>\n<p>April: Ghazl El Mahalla shares will begin trading on the EGX.<\/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>14 April (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>Mid-April: Trading on the <a href=\"https:\/\/alborsaanews.com\/2022\/02\/13\/1508190\">Egyptian Commodity Exchange to start<\/a>.<\/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>5-7 June (Sunday-Tuesday): <a href=\"https:\/\/www.africahealthexcon.com\/\">Africa Health ExCon<\/a>, Al Manara International Conference Center, Egypt International Exhibitions Center, and the St. Regis Almasa Hotel, New Administrative Capital.<\/p>\n<p>9 June (Thursday): European Central Bank monetary policy 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>July: Fuel pricing committee meets to decide quarterly fuel prices.<\/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>21 July (Thursday): European Central Bank monetary policy meeting.<\/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>September: Central Bank of Egypt\u2019s Innovation and Financial Technology Center to launch incubator for 25 fintech startups.<\/p>\n<p>8 September (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>20-21 September (Tuesday-Wednesday): Federal Reserve Finterest 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>October: Fuel pricing committee meets to decide quarterly fuel prices.<\/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>27 October (Thursday): European Central Bank monetary policy meeting.<\/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>7-18 November (Monday-Friday): Egypt will host <a href=\"https:\/\/sdg.iisd.org\/events\/2021-un-climate-change-conference-unfccc-cop-27\/\">COP27<\/a> in Sharm El Sheikh.<\/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>15 December (Thursday): European Central Bank monetary policy 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>January: Fuel pricing committee meets to decide quarterly fuel prices.<\/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":543858,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-543857","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"add3c527-d3b6-4587-aa3a-4df7d7f1f5ee","teaser":"","photo_url":"https:\/\/ent.news\/2022\/2\/311.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>EFG Hermes taps Goldman, White &amp; Case to advise on First Abu Dhabi Bank\u2019s acquisition offer - 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\/efg-hermes-taps-goldman-white-case-to-advise-on-first-abu-dhabi-banks-acquisition-offer\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EFG Hermes taps Goldman, White &amp; 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