{"id":544376,"date":"2022-03-01T04:00:39","date_gmt":"2022-03-01T04:00:39","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=544376"},"modified":"2025-12-15T20:38:58","modified_gmt":"2025-12-15T20:38:58","slug":"war-wheat-bread-and-babies","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/war-wheat-bread-and-babies\/","title":{"rendered":"War, wheat, bread and babies"},"content":{"rendered":"<section id=\"544378\" 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=\"544378\">\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\/03\/01\/this-morning-the-latest-from-the-war-in-ukraine-data-points-to-watch-in-march-2022\/\">\r\n                            THIS MORNING: The latest from the war in Ukraine + data points to watch in March 2022                        <\/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\/03\/01\/this-morning-the-latest-from-the-war-in-ukraine-data-points-to-watch-in-march-2022\/\" 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\/03\/01\/this-morning-the-latest-from-the-war-in-ukraine-data-points-to-watch-in-march-2022\/')\">\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\/03\/01\/this-morning-the-latest-from-the-war-in-ukraine-data-points-to-watch-in-march-2022\/\">\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: The latest from the war in Ukraine + data points to watch in March 2022&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/01\/this-morning-the-latest-from-the-war-in-ukraine-data-points-to-watch-in-march-2022\/\">\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\/03\/01\/this-morning-the-latest-from-the-war-in-ukraine-data-points-to-watch-in-march-2022\/&title=THIS MORNING: The latest from the war in Ukraine + data points to watch in March 2022\">\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+The+latest+from+the+war+in+Ukraine+%2B+data+points+to+watch+in+March+2022+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F01%2Fthis-morning-the-latest-from-the-war-in-ukraine-data-points-to-watch-in-march-2022%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\/03\/01\/this-morning-the-latest-from-the-war-in-ukraine-data-points-to-watch-in-march-2022\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544378\" class=\"content-area-description single-story post-544378 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-data-points tag-enterpriseam tag-oil-price tag-ukraine-russia-war tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Good morning, friends, and welcome to March. <\/strong>Anyone else struggling to process how we\u2019re already in the last month of Q1? Or is it just us?<\/p><p><strong>THE BIG STORY ABROAD for the foreseeable future is the war between two of our most <\/strong><strong>important friends<\/strong>, Russia and Ukraine. Here\u2019s what you need to know as fighting enters its sixth day:<\/p><ul>\n<li><strong>Talks, but no ceasefire:<\/strong> Negotiations between the two sides ended yesterday with no agreement to lay down weapons, though the Russian side reportedly said more meetings will follow within days.<\/li>\n<li><strong>Russia\u2019s assault on Ukrainian cities grows deadlier:<\/strong> At least eleven people were killed and dozens wounded in Kharkiv, Ukraine\u2019s second-largest city, yesterday, as Russia ramped up rocket fire. Meanwhile, a massive convoy of Russian forces is inching closer to the capital Kyiv.<\/li>\n<li><strong>Ukraine <\/strong><strong>called on its allies<\/strong><strong> to enforce a no-fly zone to stop Russia bombing its cities<\/strong>\u2014 something Western nations have so far stopped short of, as they try to avoid being sucked into direct conflict with Russia.<\/li>\n<li><strong>Russia\u2019s economy is being pummeled by sanctions. <\/strong>The RUB lost nearly a third of its value against the dollar yesterday after the EU and US hit the country\u2019s banks with stringent restrictions, before paring the losses following an emergency rate hike from Russia\u2019s central bank.<\/li>\n<li><strong>Efforts are ongoing to extract Egyptians from the conflict: <\/strong>The Foreign ministry is coordinating with embassies in nearby countries to ensure the safe evacuation of Egyptian nationals, while some 1.2k Egyptian students have now arrived in Poland from Ukraine.<\/li>\n<\/ul><p><strong>We have more on all these stories in today\u2019s War Watch section<\/strong>, below, and a rundown on what all of this means to the denizens of Planet Finance in that section, too.<\/p><p><strong>We\u2019re feeling the war\u2019s impact on wheat markets here at home: <\/strong>State grain buyer GASC yesterday canceled its second tender since the conflict began, saying the offers it received for French and US wheat were too high. Russia and Ukraine (in peacetime) account for the bulk of our wheat imports. More on that in our Commodities section, below.<\/p><p><strong>DATA WATCH-<\/strong><\/p><p><strong>It\u2019s the start of a new month. The key news triggers to keep your eye on:<\/strong><\/p><ul>\n<li><strong>PMI:<\/strong> Purchasing managers\u2019 index figures for February for Egypt, Saudi Arabia, the UAE, and Qatar will be <a href=\"https:\/\/www.markiteconomics.com\/Public\/Release\/ReleaseDates\">released<\/a> this Thursday, 3 March.<\/li>\n<li><strong>Foreign reserves:<\/strong> February\u2019s foreign reserves figures will most likely be announced this week or next.<\/li>\n<li><strong>Inflation:<\/strong> Inflation figures for February will be released on Thursday, 10 March.<\/li>\n<li><strong>Interest rates:<\/strong> The Central Bank of Egypt (CBE) will hold its <a href=\"https:\/\/www.cbe.org.eg\/en\/MonetaryPolicy\/Pages\/MPCMeetingSchedule.aspx\">next monetary policy meeting<\/a> on Thursday, 24 March.<\/li>\n<\/ul><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>WHAT\u2019S HAPPENING TODAY- <\/strong><\/p><p><strong>PSA- We\u2019re in for a couple of days of hot weather<\/strong> in the capital city, with the mercury heading to 25\u00b0C today and 30\u00b0C tomorrow, according to our favourite weather app. Look for more seasonally appropriate temps in the 20-24\u00b0C range Thursday through the weekend before things get hot again the first few days of next week. There\u2019s no real heat in store for Alexandria, where you can expect a daytime high of 21\u00b0C today and 24\u00b0C tomorrow.<\/p><p><strong>Suez Canal tolls will rise by up to 10% for transiting vessels starting today<\/strong>, according to circulars from the canal authority. Most tankers will see fees rise by 5-10%, with larger vessels set to pay more. You can find the details <a href=\"https:\/\/www.suezcanal.gov.eg\/english\/navigation\/navigationcirculars\/pages\/default.aspx\">here<\/a>.<\/p><p><strong>Back-to-back hikes:<\/strong> The authority <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5ae94891-e027-4d1d-a265-2fc17b43d749\">at the start of February<\/a> hiked transit fees by 6% for most ships, excluding LNG carriers and cruise ships, as it works to wind down pandemic-era incentives and reductions.<\/p><p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a><strong> Clinical studies for our new Made-in-Egypt vaccine EgyVax are kicking off today. <\/strong>Higher Education Minister Khaled Abdel Ghaffar is set to announce the details in a presser <a href=\"https:\/\/www.facebook.com\/1868737716772441\/posts\/3021970968115771\/\">later today.<\/a> The new jab is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2a360c3a-585e-40c7-8d48-43a58e924a93\">set to be manufactured<\/a> by Eva Pharma, which is currently a local manufacturer of Sinovac vaccines.<\/p><p><strong>MARKET WATCH-<\/strong><\/p><p><strong>Are the days of USD 100+ oil upon us? <\/strong>Brent futures surged past USD 105 at one point in early Asian trading this morning, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-02-28\/oil-steadies-as-u-s-mulls-spr-release-to-quell-russia-concerns\">Bloomberg<\/a> reports, after closing a hair\u2019s breadth above USD 100 yesterday. Goldman Sachs is now tipping the global benchmark to rise beyond USD 115 <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-02-28\/oil-steadies-as-u-s-mulls-spr-release-to-quell-russia-concerns\">\u201cwith significant upside risk\u201d<\/a> in its one-month forecast, saying demand destruction is the only thing that can now stop its rise. US sanctions on Russia are tipping oil yet higher, following a months-long rally as supply fails to keep up with demand amid the pandemic recovery.<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>Contemporary art and culture center <\/strong><strong><a href=\"https:\/\/www.facebook.com\/3031ArtFest\/\">Darb1718<\/a><\/strong><strong> is hosting its <\/strong><strong><a href=\"https:\/\/collardtickets.com\/event\/3031-art-festival\/?s=1\">3031 Art Festival<\/a><\/strong> from 4-12 March on its premises in Fustat, Old Cairo. Unique collections of multidisciplinary art will be on display along with live music, dance, theater performances, and interactive workshops. Guest speakers <a href=\"https:\/\/www.adsumart.com\/home\">Adsum Art Consultancy<\/a> will be on hand to discuss investing in art. Catch a full day of activities from 1:00pm\u20139:30pm on weekends and weekdays from 4:00pm\u201310:00pm.<\/p><p><strong>Consoleya is holding its second <\/strong><strong><a href=\"https:\/\/www.eventbrite.com\/e\/consoleya-women-meet-up-inclusivity-in-investment-more-tickets-274903282117\">Women Meet-up<\/a><\/strong> this Wednesday, 2 March, to discuss topics including inclusivity in investment. The agenda includes a panel discussion on gender-lens funding here in Egypt.<\/p><p><strong>The <\/strong><strong><a href=\"https:\/\/www.facebook.com\/Diarna.moss\">Diarna Handicrafts Fair<\/a><\/strong> kicked off last Thursday and runs through 7 March at Cairo Festival City from 10am until 10pm daily.<\/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 government\u2019s recently approved incentives for net metering and self-consumption solar power systems are set to give the solar industry a boost ahead of the November\u2019s COP27 climate summit in Sharm El Sheikh. In this week\u2019s Going Green, we break down the new incentives, and take a look at how they\u2019ve been received amid what some are calling tough times for local solar players.<\/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\/data-points\/\">Data points<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-price\/\">oil price<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ukraine-russia-war\/\">Ukraine-Russia 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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544379\" 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=\"544379\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/01\/544379\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544379\" class=\"content-area-description single-story post-544379 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 decoding=\"async\" data-recalc-dims=\"1\" 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=\"544380\" 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=\"544380\">\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\">WAR WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/01\/talks-fail-to-broker-ceasefire-as-russia-ramps-up-assault-on-ukrainian-cities\/\">\r\n                            Talks fail to broker ceasefire as Russia ramps up assault on Ukrainian cities                        <\/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\/03\/01\/talks-fail-to-broker-ceasefire-as-russia-ramps-up-assault-on-ukrainian-cities\/\" 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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Russian negotiators said the two sides had agreed to reconvene on the Polish-Belarusuian border in the coming days, without specifying a date, the Interfax news service reported yesterday, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-02-28\/russia-says-ukraine-agreed-to-continue-talks-interfax-reports?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg.<\/a><\/p>\n<p><strong>ON THE BATTLEFIELD-<\/strong><\/p>\n<p><strong>Talks were overshadowed by Russia\u2019s heavy assault on Kharkiv<\/strong>, Ukraine\u2019s second-largest city. At least 11 people were killed in some of the heaviest shelling so far, according to<a href=\"https:\/\/www.washingtonpost.com\/world\/2022\/02\/28\/kharkiv-rockets-shelling-russia-ukraine-war\/\">Ukrainian officials,<\/a> while dozens were wounded as Russia targeted buildings with suspected cluster bombs.<\/p>\n<p><strong>Ukraine <\/strong><strong><a href=\"https:\/\/www.reuters.com\/world\/europe\/russias-isolation-deepens-ukraine-resists-invasion-2022-02-28\/\">asked its allies<\/a><\/strong><strong> to enforce a no-fly zone over its airspace to stop the bombing<\/strong> \u2014 a request Western nations are unlikely to grant, as they have no intention of entering a direct conflict with Putin.<\/p>\n<p><strong>Ukraine eyes \u201cwar bonds\u201d to fund its armed forces: <\/strong>The country\u2019s finance ministry is looking to borrow money from international investors \u201cto meet the needs of the armed forces of Ukraine and to ensure the uninterrupted provision of the state\u2019s financial needs under the war,\u201d it said in a statement yesterday, the <a href=\"https:\/\/www.ft.com\/content\/faf894e7-f7a8-4a48-a7ce-2738441ac079\">Financial Times<\/a> reported.<\/p>\n<p><strong>EGYPTIANS IN UKRAINE-<\/strong><\/p>\n<p><strong>More than 1.2k students have now arrived safely in Poland from Ukraine<\/strong>, Emigration Minister Nabila Makram told Sada El Balad\u2019s Ahmed Moussa (<a href=\"https:\/\/youtu.be\/ELrQ6QwBYow\">watch, runtime: 5:49<\/a> | <a href=\"https:\/\/youtu.be\/zHW8FvlduKg\">8:37<\/a>), while 250 others have reached Romania.<\/p>\n<p><strong>Egyptians with expired passports in Ukraine will be allowed to cross the border into <\/strong><strong>Poland, <\/strong>the Egyptian embassy in Warsaw announced, according to <a href=\"https:\/\/english.ahram.org.eg\/NewsContent\/1\/1234\/461929\/Egypt\/Foreign-Affairs\/Egyptians-with-expired-passports-in-Ukraine-will-b.aspx\">Ahram Online<\/a>. Our embassy in Bucharest is also working on a similar arrangement with the Romanian government. A Romanian flight will take off for Cairo from Bucharest this evening. The foreign ministry has issued emergency directives to Egyptian embassies in countries neighboring Ukraine to provide transport and temporary housing to Egyptians fleeing the war over land borders, according to a <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/268206948822492\">statement<\/a>.<\/p>\n<p><strong>FINANCIAL MELTDOWN IN MOSCOW-<\/strong><\/p>\n<p><strong>Russia faces a financial meltdown as Western countries impose sanctions.<\/strong> The US imposed further \u201ccrushing\u201d sanctions on Russia including <a href=\"https:\/\/www.reuters.com\/business\/us-blocks-any-us-transactions-with-russian-central-bank-others-2022-02-28\/\">blocking transactions<\/a> involving the country\u2019s central bank, finance ministry or national wealth fund, while the EU has frozen the assets of several of Russia\u2019s most powerful oligarchs, who have close ties to President Vladimir Putin.<\/p>\n<p><strong>The punitive measures sent the <\/strong><strong>Russian currency crashing<\/strong><strong> and resulted in frantic cash <\/strong><strong>withdrawals <\/strong>by Russian citizens, many of whom are on the hunt for USDs and considering fleeing the country, according to a <a href=\"https:\/\/www.ft.com\/content\/424d8ed3-34ce-4729-8d9c-eebf0c7f5d4d\">Financial Times<\/a> report.<\/p>\n<p><strong>Russia took emergency measures to stabilize the RUB:<\/strong> Russia\u2019s central bank <a href=\"https:\/\/www.reuters.com\/business\/finance\/russia-hikes-key-rate-20-tells-companies-sell-fx-2022-02-28\/\">doubled<\/a><a href=\"https:\/\/www.reuters.com\/business\/finance\/russia-hikes-key-rate-20-tells-companies-sell-fx-2022-02-28\/\">interest rates<\/a> to 20% to boost the sinking RUB, authorities instructed local exporters to sell 80% of their FX reserves, and Putin <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-02-28\/putin-bans-russians-from-servicing-foreign-debt-over-sanctions\">banned some foreign currency transfers<\/a> by Russian citizens. The RUB tumbled nearly 30%, before paring losses after the central bank\u2019s decisions. It closed at <a href=\"https:\/\/www.wsj.com\/livecoverage\/russia-ukraine-latest-news-2022-02-28\/card\/7hwrzavAijFKtODQzswW\">an 11.6% decline<\/a> \u2014 around 95 RUB to 1 USD.<\/p>\n<p><strong>Global markets tumbled, with several US and European indexes falling.<\/strong> European financial institutions were hit hard, with those most exposed to Russian banks plunging <a href=\"https:\/\/www.reuters.com\/markets\/europe\/global-markets-wrapup-2-2022-02-28\/\">between 9.5% and 14%<\/a>. Investors <a href=\"https:\/\/www.ft.com\/content\/7a72d966-15ee-424a-bc62-1f46980827d4\">dumped Russian bonds<\/a> and went for safer assets including gold, which rose to cap its best month since May 2021, the <a href=\"https:\/\/www.wsj.com\/articles\/-global-stocks-markets-dow-update-02-27-22-11646005878\">Wall Street Journal<\/a> reported. The New York Stock Exchange and the Nasdaq <a href=\"https:\/\/www.wsj.com\/livecoverage\/russia-ukraine-latest-news-2022-02-28\/card\/cTRdEpwhpdUspKwAISo1\">halted trading<\/a> of several Russia-based stocks due to \u201cregulatory concern,\u201d said the NYSE website.<\/p>\n<p><strong>RESHAPING THE WORLD ORDER- <\/strong><\/p>\n<p><strong>Ukraine wants to join the EU *right now* as it searches for leverage in ceasefire <\/strong><strong>negotiations: <\/strong>EU leaders may next week discuss the possibility of Ukraine joining the bloc, a senior EU official told <a href=\"https:\/\/www.reuters.com\/markets\/rates-bonds\/eu-eyes-ukrainian-membership-could-be-bargaining-chip-russia-talks-2022-02-28\/\">Reuters<\/a>, after Ukrainian President Volodymyr Zelenskiy said he had signed an <a href=\"https:\/\/www.reuters.com\/world\/europe\/ukrainian-president-signs-formal-request-join-european-union-2022-02-28\/\">official request<\/a> for \u201cimmediate membership\u201d through a \u201cnew special procedure.\u201d The presidents of eight EU members have <a href=\"https:\/\/www.reuters.com\/world\/europe\/presidents-8-eu-states-call-immediate-talks-ukrainian-membership-2022-02-28\/\">called for immediate talks<\/a>.<\/p>\n<p><strong>Ukraine being admitted today will do nothing to shore up the EU\u2019s ties with Turkey<\/strong>, which has been dancing like an organ grinder\u2019s monkey trying to win membership for \u2026 just about a generation now? As with opening one\u2019s borders to refugees, apparently <a href=\"https:\/\/www.nytimes.com\/2022\/02\/26\/world\/middleeast\/refugees-ukraine-middle-east.html\">it helps in some quarters of Europe if you \u201clook like us\u201d?<\/a><\/p>\n<p><strong>Switzerland broke its historical neutrality, saying it would match EU sanctions against <\/strong><strong>Russia.<\/strong> The decision was \u201cunique and difficult\u201d but \u201cmorally\u201d imperative, Federal President Ignazio Cassis said yesterday, the <a href=\"https:\/\/www.ft.com\/content\/80c268fa-61d4-42ac-a9f4-310f12678c43\">Financial Times<\/a> reported.<\/p>\n<p><strong>NATO holdout Finland is now openly debating whether to ask to join the military alliance<\/strong>, <a href=\"https:\/\/www.politico.eu\/article\/finland-nato-membership-sanna-marin-ukraine-russia\/\">Politico<\/a> reports.<\/p>\n<p><strong>FIFA and UEFA have suspended Russian national and club teams from all international <\/strong><strong>football until further notice,<\/strong> potentially blocking Russian participation in the <a href=\"https:\/\/www.ft.com\/content\/06677626-c933-4689-8123-41dc6f2143a9\">2022 World Cup and women\u2019s Euro 2022<\/a>. \u201cFootball is fully united here and in full solidarity with all the people affected in Ukraine,\u201d the two organizations <a href=\"https:\/\/www.fifa.com\/tournaments\/mens\/worldcup\/qatar2022\/media-releases\/fifa-uefa-suspend-russian-clubs-and-national-teams-from-all-competitions\">said yesterday.<\/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\/bonds\/\">Bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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\/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544382\" 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=\"544382\">\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\">Commodities<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/01\/were-struggling-to-find-new-wheat-supplies\/\">\r\n                            We\u2019re struggling to find new wheat supplies                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta 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  <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/01\/were-struggling-to-find-new-wheat-supplies\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/3.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"544383\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/01\/were-struggling-to-find-new-wheat-supplies\/3-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/3.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"3.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/3.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/3.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544382\" class=\"content-area-description single-story post-544382 post type-post status-publish format-standard has-post-thumbnail hentry category-commodities tag-commodities tag-enterpriseam tag-gasc 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><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>State grain buyer GASC was forced to cancel its wheat tender yesterday on the <\/strong><strong>back of high prices<\/strong>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-02-28\/ukraine-tumult-deters-top-wheat-importer-egypt-from-buying-grain\">Bloomberg<\/a> reports, as global grain markets face turmoil on the back of Russia\u2019s invasion of Ukraine. The two countries together account for nearly a third of the world\u2019s wheat supply, and some 60-80% of our grain imports at any given time.<\/p>\n<p><strong>This is the second tender Egypt has canceled in recent days:<\/strong> GASC called off last Thursday\u2019s tender due to a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/10eab519-405d-4e8c-9825-11a03e8b7926\">shortage of offers<\/a><strong>. <\/strong><\/p>\n<p><strong>Only three offers were submitted in yesterday\u2019s tender:<\/strong> two for French wheat and one for US grain, Bloomberg cited unidentified traders as saying. Offer prices have reportedly surged by USD 80 per ton since Russia invaded Ukraine. Days before the war broke out, 17 global suppliers <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a38a8f80-51ed-4cc9-83ab-64e4d1ea633c\">took part<\/a> in a tender that saw GASC lock in three cargoes of Romanian wheat despite Ukrainian suppliers offering a better price. Chicago wheat futures closed up 8.6% in yesterday\u2019s trading.<\/p>\n<p><strong>Why are traders staying away from Black Sea supplies?<\/strong> Although Russian commodities have so far been spared from direct sanctions, traders are avoiding Black Sea wheat due to port closures and logistical hurdles \u2014 and the possibility that sanctions are still to come. Shipment disruptions are mounting, with ins. companies either declining to cover Black Sea vessels or charging massive costs, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-02-28\/chaos-in-commodities-as-russia-s-war-on-ukraine-stresses-markets?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a>reported yesterday. Russia\u2019s exclusion from the Swift payments system is also threatening the financing of its commodities.<\/p>\n<p><strong>Our alternatives don\u2019t look so hot right now, either: <\/strong>Egypt is <a href=\"https:\/\/www.asharqbusiness.com\/article\/33677\">eyeing wheat<\/a> from the US, France, Romania, Kazakhstan, or Germany, Internal Trade Development Authority head Ibrahim Ashmawy said ahead of yesterday\u2019s tender. But our ability to secure alternative supplies has been hobbled by rising costs for grain itself, as well as ins. and shipping.<\/p>\n<p><strong>However, the Supply Ministry is projecting calm. <\/strong>We have enough wheat stockpiled to last up to four months, <a href=\"https:\/\/enterprise.press\/am-edition\/#tldr-story-02\">Supply Minister Ali El Moselhy<\/a> said earlier this week, adding that local growers will help cover Egypt\u2019s needs until the end of the year. The harvest season starts in April and the government hopes to collect 4 mn tons of the grain.<\/p>\n<p><strong>Expect policymakers to be carefully weighing the global wheat crunch as they look to taper bread subsidies. <\/strong>The Supply Ministry is by the end of the month <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/217bd2c8-c468-4975-b723-ba0e372c9b2c\">expected to announce<\/a> an overhaul of the costly bread subsidy system, which has remained largely unchanged 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\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gasc\/\">GASC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"544384\" 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=\"544384\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/01\/careem-taps-into-food-delivery-services-with-investment-in-elmenus\/\">\r\n                            Careem taps into food delivery services with investment in Elmenus                        <\/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\/03\/01\/careem-taps-into-food-delivery-services-with-investment-in-elmenus\/\" 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 investment will \u201cextend our reach in one of our largest ride-hailing markets,\u201d Careem co-founder and CEO Mudassir Sheikha was quoted as saying in the statement, adding that the move will also help the company launch its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cc287a71-28fb-4b51-89b2-3c13cd8090a2\">super app<\/a> across the region.<\/p>\n<p><strong>Like its parent company, Careem wants to do more than just rides: <\/strong>The company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1641c569-a723-4b38-aaa4-7b78c162fc48\">previously reported<\/a> plans to expand food delivery \u2014 a market worth an estimated USD 2.8 bn in Egypt \u2014 and launch courier and digital payments services. Its food delivery service is already available in cities across Saudi Arabia, the UAE, Jordan, Pakistan and Qatar, according to Bloomberg.<\/p>\n<p><strong>Our friends at Elmenus have scored a handful of investments over the past two years:<\/strong> Just Eat\u2019s former CEO <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2d93972d-5cc5-4245-bdf7-8a425a607272\">invested<\/a> in Elmenus last year, while Fawry led a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5e9a5b97-b309-408e-8f22-bcde84c04af3\">USD 10 mn pre-series C round<\/a> for the company in July, following on from a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2f9ba2d1-6061-4a48-8bbd-c412220d7703\">USD 8 mn<\/a> round in 2020.<\/p>\n<p><strong>OTHER INVESTMENT NEWS-<\/strong><\/p>\n<p><strong>White goods retailer BTech<\/strong><strong> will nearly double its annual investments<\/strong><strong> to EGP 800 <\/strong><strong>mn this <\/strong><strong>year<\/strong>, up from EGP 500 mn in 2021, <a href=\"https:\/\/bit.ly\/3stpquz\">Hapi Journal<\/a> quoted CEO and Managing Director Mahmoud Khattab as saying in a presser yesterday. The retailer aims to add 38 new locations across the country, bringing its total branch count to 153. The company also plans to invest EGP 1bn in tech infrastructure over the next four years, Khattab <a href=\"https:\/\/bit.ly\/3Ixfju3\">reportedly said<\/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\/careem\/\">Careem<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/elmenus\/\">Elmenus<\/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\/retail\/\">retail<\/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=\"544386\" 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=\"544386\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/01\/brimore-invests-usd-5-mn-in-a-pre-seed-round-for-logistics-arm-milezmore-milango-acquires-rival-circle\/\">\r\n                            Brimore invests USD 5 mn in a pre-seed round for logistics arm Milezmore + Milango acquires rival Circle                        <\/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\/03\/01\/brimore-invests-usd-5-mn-in-a-pre-seed-round-for-logistics-arm-milezmore-milango-acquires-rival-circle\/\" 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 funds will help Milezmore expand its cloud solutions and double the size of its team, with a goal of increasing its customer base by 50x. The funding round comes a few weeks after Brimore <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/01cad9c8-f5db-4b8d-9200-9e5e0cc981be\">raised USD 25 mn<\/a> in series A funding.<\/p>\n<p><strong>About Milezmore: <\/strong>Milezmore was founded last year after Brimore struggled to find a delivery and warehousing provider that could \u201ckeep up with our pace and cost structure,\u201d Brimore co-founder and Chief Business Officer Ahmed Sheikha <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9b9f6a9c-ce3b-411b-a3ea-88f58dcc7116\">told us<\/a> recently. The subsidiary, which is billing itself as the country\u2019s \u201cfirst startup to provide cloud fulfillment, last-mile delivery, and customizable operations solutions,\u201d has built 15 delivery hubs across Egypt and delivered some 1 mn packages since its launch.<\/p>\n<p><strong>ALSO FROM PLANET STARTUP-<\/strong><\/p>\n<p><strong>Digital services provider <\/strong><strong><a href=\"https:\/\/www.milango.app\/\">Milango<\/a><\/strong><strong> has acquired rival <\/strong><strong><a href=\"https:\/\/createmycircle.com\/\">Circle<\/a><\/strong><strong> for an undisclosed<\/strong> <strong>sum<\/strong>, Milango CEO Amr Mostafa told us, confirming a report from <a href=\"https:\/\/waya.media\/milango-acquires-its-local-rival-circle\/\">Waya<\/a>. The agreement consists of a mix of client and talent transfer as well as a financial transaction, Mostafa said. The acquisition will help Milango increase its market share and expand its contracted user base to north of 100k residential units.<\/p>\n<p><strong>About Milango: <\/strong>The proptech startup provides online services via branded mobile apps to residential communities and sporting clubs, including SODIC, Orascom Development\u2019s El Gouna, Travco Properties\u2019 Almaza Bay, Emaar, and Smash Sporting Club. Back in 2020, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c68b9fcd-6b2e-4070-8dbb-ac06e01d5987\">the startup secured<\/a> an undisclosed six-figure USD seed investment in a round led by VC tech fund A15.<\/p>\n<p><strong>About Circle:<\/strong> Founded in 2020 by Nancy Kamal and Essam Maged, the platform allows real estate and property management to communicate with tenants, handle their requests, and reduce operational costs. The platform is backed by 500 Startups MENA.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Pan-African digital payments company <\/strong><strong><a href=\"https:\/\/www.cellulant.io\/\">Cellulant<\/a><\/strong><strong> plans to roll out new SME <\/strong><strong>services in Egypt and seven other main African markets, <\/strong><a href=\"https:\/\/www.reuters.com\/technology\/kenyas-cellulant-targets-50000-new-merchants-boosts-war-chest-2022-02-28\/\">Reuters<\/a> reported yesterday. Cellulant is currently looking to raise USD 100 mn in a Series D round, to help finance a pivot to small businesses by growing its SME merchant base to 50k firms from a current 1k. The Nairobi-based fintech company has traditionally catered to bigger merchants across its 35 African markets, including online retailer Jumia and food delivery firm Glovo.<\/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\/brimore\/\">Brimore<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/delivery-and-logistics-services\/\">delivery and logistics services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/milango\/\">Milango<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/milezmore\/\">Milezmore<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544388\" 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=\"544388\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/01\/544388\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544388\" class=\"content-area-description single-story post-544388 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 decoding=\"async\" data-recalc-dims=\"1\" 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=\"544389\" 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=\"544389\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/01\/ekh-mnhd-and-misr-insurance-holding-announce-full-year-results\/\">\r\n                            EKH, MNHD and Misr Insurance Holding announce full-year 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\/03\/01\/ekh-mnhd-and-misr-insurance-holding-announce-full-year-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\/03\/01\/ekh-mnhd-and-misr-insurance-holding-announce-full-year-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\/03\/01\/ekh-mnhd-and-misr-insurance-holding-announce-full-year-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=EKH, MNHD and Misr Insurance Holding announce full-year results&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/01\/ekh-mnhd-and-misr-insurance-holding-announce-full-year-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\/03\/01\/ekh-mnhd-and-misr-insurance-holding-announce-full-year-results\/&title=EKH, MNHD and Misr Insurance Holding announce full-year 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=EKH%2C+MNHD+and+Misr+Insurance+Holding+announce+full-year+results+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F01%2Fekh-mnhd-and-misr-insurance-holding-announce-full-year-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\/03\/01\/ekh-mnhd-and-misr-insurance-holding-announce-full-year-results\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544389\" class=\"content-area-description single-story post-544389 post type-post status-publish format-standard hentry category-earnings-watch tag-earnings-watch tag-enterpriseam tag-madinet-masr-for-housing-and-development tag-misr-insurance-holding tag-misr-life-ins wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Egypt Kuwait Holding Company\u2019s net income<\/strong><strong> grew<\/strong><strong> 34%<\/strong><strong> y-o-y in 4Q2021 to record <\/strong><strong>USD <\/strong><strong>36.1 mn<\/strong><strong>,<\/strong> according to the company\u2019s <a href=\"https:\/\/ent.news\/2022\/2\/EKH-ER-FY21-E-Final.pdf\">earnings release (pdf)<\/a>. Revenues rose 66% y-o-y for the quarter to record USD 243.8 mn. EKH reported 47% y-o-y bottomline growth in 2021 to record USD 170.9 mn, on revenues of USD 833.4 mn, up 38% annually.<\/p>\n<p><strong>EKH attributed its top- and bottom-line growth to the fertilizer and petrochemicals segment<\/strong>, whose revenues rose 51% y-o-y in 2021 to record USD 447.9 mn. Revenues from the ins. and diversified segment also saw 51% annual growth in 2021 to record USD 186.6 mn.<\/p>\n<p><strong>EKH welcomes a new chairman: <\/strong>EKH\u2019s board of directors signed off on appointing Vice Chairman Loay Jassim Al Kharafi as company chairman after former head Moataz Adel Al Alfi stepped down from the head of the table, according to a <a href=\"https:\/\/ent.news\/2022\/2\/Egypt-Kuwait-Holding-Company-new-company-head-1.pdf\">disclosure to the bourse (pdf)<\/a>. Al Alfi will stay on as a board member.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Madinet Nasr Housing and Development\u2019s (MNHD) consolidated net income<\/strong> <strong>dropped <\/strong><strong>71.5%<\/strong><strong> y-o-y<\/strong> in 2021 to record EGP 282 mn, according to the company\u2019s <a href=\"https:\/\/ent.news\/2022\/2\/MNHD_4Q21_EaringsRelease_EA-1.pdf\">earnings release (pdf)<\/a>. Revenues dropped 28% y-o-y to record EGP 2.23 bn for the year. The release attributed the drop in income and revenues to a fall in large land sale transactions.<\/p>\n<p><strong>The breakdown: <\/strong>The company recorded EGP 2.95 bn in total pre-sales last year, dropping 57.9% y-o-y. MNHD also \u201ctook measures to scrutinize its receivable portfolio by canceling contracts with some defaulted clients, repricing, and resale of recovered units,\u201d which played a part in its lowered net income and revenues for the year.<\/p>\n<hr class=\"grey-line\">\n<p><strong>State-owned Misr Ins. Holding Company\u2019s net income grew 5.2% y-o-y in <\/strong><strong>FY2020-2021, recording EGP 4.4 bn,<\/strong> the cabinet announced in a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/348654110638349\">statement<\/a> yesterday. The firm issued a total of EGP 17.5 bn in premiums, up 20.5% from the previous year, while its investments increased 23.8% to reach EGP 75.7 bn. Misr Ins. subsidiary Misr Life Ins. is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/01c4eb21-6559-49bf-86ce-bb682d493449\">looking to list 25% of its shares<\/a> in an IPO during 2H2022, as part of the state privatization program.<\/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\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/madinet-masr-for-housing-and-development\/\">Madinet Masr for Housing and Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/misr-insurance-holding\/\">Misr Insurance Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/misr-life-ins\/\">Misr Life Ins.<\/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=\"544390\" 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=\"544390\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/01\/new-additions-to-sczone-board-whos-east-med-expert-committee-gets-first-egyptian-head\/\">\r\n                            New additions to SCZone board + WHO\u2019s East Med expert committee gets first Egyptian head                        <\/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\/03\/01\/new-additions-to-sczone-board-whos-east-med-expert-committee-gets-first-egyptian-head\/\" 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\/03\/01\/new-additions-to-sczone-board-whos-east-med-expert-committee-gets-first-egyptian-head\/')\">\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\/03\/01\/new-additions-to-sczone-board-whos-east-med-expert-committee-gets-first-egyptian-head\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=New additions to SCZone board + WHO\u2019s East Med expert committee gets first Egyptian head&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/01\/new-additions-to-sczone-board-whos-east-med-expert-committee-gets-first-egyptian-head\/\">\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\/03\/01\/new-additions-to-sczone-board-whos-east-med-expert-committee-gets-first-egyptian-head\/&title=New additions to SCZone board + WHO\u2019s East Med expert committee gets first Egyptian head\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=New+additions+to+SCZone+board+%2B+WHO%E2%80%99s+East+Med+expert+committee+gets+first+Egyptian+head+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F01%2Fnew-additions-to-sczone-board-whos-east-med-expert-committee-gets-first-egyptian-head%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\/03\/01\/new-additions-to-sczone-board-whos-east-med-expert-committee-gets-first-egyptian-head\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544390\" class=\"content-area-description single-story post-544390 post type-post status-publish format-standard hentry category-moves tag-enterpriseam tag-moves tag-suez-canal-economic-zone tag-world-health-organization wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>New members on SCZone board: <\/strong>Prime Minister Moustafa Madbouly has tapped Federation of Egyptian Industries Chairman <strong>Mohamed El Sewedy<\/strong>, the Sovereign Fund of Egypt\u2019s <strong>Ayman Soliman<\/strong> and litigation expert <strong>Yasser Hashem<\/strong> to join for a three-year term the General Authority For Suez Canal Economic Zone\u2019s (SCZone) board, headed by Yehia Zaki, according to a <a href=\"https:\/\/www.facebook.com\/SCZONE.EG\/posts\/275954381348622?__cft__[0]=AZVwSGNk3Sqb8IS-jWtemwxBm2nfqkbLYz9XfkYDczu18k2d4rQVSh3VZwq1O1gR1xFZ7rDCfFIqf-B-rxbtQ1lQAgENtyzOqH2q5v3xa-kAHqOLq5l-uAszdk6zcufRPksUGmW1QRguGRwgdULefjAf&__tn__=%2CO%2CP-R\">statement<\/a>.<\/p>\n<p><strong>The first Egyptian head of WHO\u2019s expert panel at Eastern M<\/strong><strong>editerranean committee: <\/strong>Ahmed El Sobky, head of the General Authority for Healthcare, has been elected to chair the World Health Organization\u2019s expert panel at this year\u2019s Regional Committee for the Eastern Mediterranean, according to a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/345880664249027?__cft__[0]=AZX4RSPlriIs0O4IZjzJoJIg2H5paqnMy2lIhPyHahnJ8xUh0GLfZ1FxDrcHliVj4dyfnRWLtDdpGS0-oCKek3sKnTQJG7KYwNGW7rWcYzSLgmMVYQ6LvVmcySxXRpaLgQyHh07tiuCWwdFfWMjEhpEJ&__tn__=%2CO%2CP-R\">statement<\/a>. El Sobky is the panel\u2019s first Egyptian head in its 14-year history.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-economic-zone\/\">Suez Canal Economic Zone<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-health-organization\/\">World Health Organization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544391\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"544391\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/01\/544391\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544391\" class=\"content-area-description single-story post-544391 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/www.sodic.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/V-editions-1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544392\" 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=\"544392\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/01\/last-nights-talk-shows-war-wheat-bread-and-babies\/\">\r\n                            Last Night\u2019s Talk Shows: War, wheat, bread, and babies                        <\/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\/03\/01\/last-nights-talk-shows-war-wheat-bread-and-babies\/\" 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\/03\/01\/last-nights-talk-shows-war-wheat-bread-and-babies\/')\">\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\/03\/01\/last-nights-talk-shows-war-wheat-bread-and-babies\/\">\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: War, wheat, bread, and babies&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/01\/last-nights-talk-shows-war-wheat-bread-and-babies\/\">\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\/03\/01\/last-nights-talk-shows-war-wheat-bread-and-babies\/&title=Last Night\u2019s Talk Shows: War, wheat, bread, and babies\">\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+War%2C+wheat%2C+bread%2C+and+babies+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F01%2Flast-nights-talk-shows-war-wheat-bread-and-babies%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\/03\/01\/last-nights-talk-shows-war-wheat-bread-and-babies\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544392\" class=\"content-area-description single-story post-544392 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-enterpriseam tag-last-nights-talk-shows tag-madbouly-government tag-population-growth tag-russia tag-subsidies tag-ukraine tag-wheat wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Russia-Ukraine took center stage on our airwaves again: <\/strong>Kelma Akheera\u2019s Lamees El Hadidi discussed possible actions by the UN Security Council on the invasion of Ukraine with Assistant Secretary-General of the Arab League Hossam Zaki (<a href=\"https:\/\/youtu.be\/lcuqFnlg15E\">watch, runtime: 7:10<\/a>) before turning to Al Ahram Center for Political and Strategic Studies\u2019 Mohamed Farahat for some political analysis (<a href=\"https:\/\/www.youtube.com\/watch?v=oIjqSkzcP00\">watch, runtime: 11:22<\/a>). Journalist Ashraf El Sabbagh <strong>dismissed the prospects of a nuclear war<\/strong> in a phone-in with Hadith Al Kahera (<a href=\"https:\/\/www.youtube.com\/watch?v=VSqZ1-fgfig\">watch, runtime: 11:08<\/a>). Al Hekaya\u2019s Amr Adeeb reviewed the latest on-the-ground developments with Al-Arabiya\u2019s correspondent in Kyiv (<a href=\"https:\/\/youtu.be\/GJesmfAI8Uk\">watch, runtime: 8:09<\/a>).<\/p>\n<p><strong>Could the war impact bread subsidies?<\/strong> Supply Minister Ali El Moselhy gave an extensive interview to Ala Mas\u2019ouleety\u2019s Ahmed Moussa (<a href=\"https:\/\/youtu.be\/TIpMOZK1YGM\">watch, runtime: 1:47:10<\/a>) on all things wheat and bread subsidies. On how the Russia-Ukraine conflict could affect our wheat imports, El-Moselhy was all assurances. Moscow announced that all contracted shipments would arrive, he said, adding that no sanctions have been imposed on Russian commodities or energy due to their importance in global markets. El Moselhy also reviewed the scenarios the government is considering for raising the price of subsidized bread \u2014 including replacing support in banknote form for \u201cthose who really need it,\u201d he said. El Moselhy didn\u2019t disclose when to expect the overhaul, saying only that the government is in no rush (<a href=\"https:\/\/www.youtube.com\/watch?v=FSbU6nLBkdg\">watch, runtime: 6:15<\/a>). He had previously said a final decision on how subsidies will be reworked would come by <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/217bd2c8-c468-4975-b723-ba0e372c9b2c\">the end of March.<\/a><\/p>\n<p><strong>REALLY, REALLY SMART POLICY- Financial incentives for not popping out babies are on the table <\/strong><strong>under a new national family planning initiative<\/strong>, Cairo University economics professor Amr Soliman said in a phone-in with Kelma Akheera (<a href=\"https:\/\/youtu.be\/FJyA8cI64AE\">watch, runtime: 10:31<\/a>). The talking heads gave special attention to the new national family development project \u2014 which aims to put a lid on population growth \u2014 launched by President Abdel Fattah El-Sisi yesterday. Planning Minister Hala El Said discussed the details of the project with Al Hekaya\u2019s Amr Adeeb (<a href=\"https:\/\/www.youtube.com\/watch?v=pDuedYV2-Kw\">watch: runtime 8:31<\/a>), while Hadith Al Kahera (<a href=\"https:\/\/www.youtube.com\/watch?v=eigmzLBULzs\">watch: runtime 20:31<\/a>), Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=9rMTnJTntyg\">watch: runtime 3:12<\/a>), and Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=4O4j10hlVl4\">watch: runtime 4:12<\/a>) also had coverage.<\/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\/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\/madbouly-government\/\">Madbouly Government<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/population-growth\/\">population growth<\/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\/subsidies\/\">subsidies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ukraine\/\">Ukraine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544393\" 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 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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-enhp0ks\" data-v=\"4\" data-block-id=\"enhp0ks\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-enhp0ks-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-enhp0ks-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\" 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class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"544394\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/01\/egypt-in-the-news-laser-focus-on-ukraine\/\">\r\n                            Egypt in the News: Laser focus on 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\/03\/01\/egypt-in-the-news-laser-focus-on-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\/03\/01\/egypt-in-the-news-laser-focus-on-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\/03\/01\/egypt-in-the-news-laser-focus-on-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=Egypt in the News: Laser focus on Ukraine&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/01\/egypt-in-the-news-laser-focus-on-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\/03\/01\/egypt-in-the-news-laser-focus-on-ukraine\/&title=Egypt in the News: Laser focus on 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=Egypt+in+the+News%3A+Laser+focus+on+Ukraine+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F01%2Fegypt-in-the-news-laser-focus-on-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\/03\/01\/egypt-in-the-news-laser-focus-on-ukraine\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544394\" class=\"content-area-description single-story post-544394 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-enterpriseam tag-russia tag-ukraine wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>With all eye<\/strong><strong>s fixed firmly on the war in Ukraine, <\/strong>the international press isn\u2019t paying us any mind this morning.<\/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\/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=\"544395\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544396\" 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=\"544396\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/01\/544396\/\">\r\n                                                    <\/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\/03\/01\/544396\/\" 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\/03\/01\/544396\/')\">\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\/03\/01\/544396\/\">\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=&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/01\/544396\/\">\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\/03\/01\/544396\/&title=\">\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=+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F01%2F544396%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\/03\/01\/544396\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544396\" class=\"content-area-description single-story post-544396 post type-post status-publish format-standard hentry category-also-on-our-radar tag-al-wehda-industrial-development tag-also-on-our-radar tag-alstom tag-cleopatra-hospitals-group tag-creed-healthcare tag-enterpriseam tag-national-company-for-glass-and-crystal tag-opay wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Creed Healthcare subsidiary Care Healthcare is restructuring its 29% stake in Cleopatra <\/strong><strong>Hospital Group<\/strong> (CHG) by transferring it to Dutch-listed investment fund RCare CV, CHG said a <a href=\"https:\/\/ent.news\/2022\/2\/%D9%83%D9%84%D9%8A%D9%88-%D8%A8%D9%8A%D8%A7%D9%86-2-27-02-2022.pdf\">regulatory filing (pdf).<\/a> RCare is owned by mid-market investment firm <a href=\"https:\/\/www.rmbv.net\/\">RMBV<\/a>, which in turn is led by CHG chairman Ahmed Badreldin.<\/p>\n<p>Fintech firm <strong>OPay has <\/strong><strong><a href=\"https:\/\/www.zawya.com\/mena\/en\/press-releases\/story\/OPay_announces_the_launch_of_its_first_store_in_Egypt-ZAWYA20220228085412\/\">opened its first brick and mortar store<\/a><\/strong> in Egypt, in the fifth settlement\u2019s Downtown mall.<\/p>\n<p>Egyptian and Czech<strong> Egyptologists <\/strong><strong><a href=\"https:\/\/edition.cnn.com\/style\/article\/mummy-embalming-egypt-scn\/index.html\">uncovered the largest<\/a><\/strong><strong> cache of <\/strong><strong>mummification tools of its kind <\/strong>in the cemetery of Abusir near Cairo.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li>France\u2019s <strong>Alstom<\/strong> <a href=\"https:\/\/alborsaanews.com\/2022\/02\/28\/1513976\">is looking to bid<\/a> on contracts for <strong>mass transit projects<\/strong> at the <strong>new administrative capital<\/strong>.<\/li>\n<li>The Tourism Ministry now <a href=\"https:\/\/alborsaanews.com\/2022\/02\/28\/1514463\">requires<\/a><strong><a href=\"https:\/\/alborsaanews.com\/2022\/02\/28\/1514463\">hotels<\/a><\/strong><strong> to increase their internet speed<\/strong> and use fiber optics. The ministry set tiered minimum speed requirements for hotels based on their star ratings.<\/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\/al-wehda-industrial-development\/\">Al Wehda Industrial Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/alstom\/\">Alstom<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cleopatra-hospitals-group\/\">Cleopatra Hospitals Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/creed-healthcare\/\">Creed Healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-company-for-glass-and-crystal\/\">National Company for Glass and Crystal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/opay\/\">OPay<\/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=\"544397\" 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=\"544397\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/01\/falling-trend-stalls-for-daily-covid-tally\/\">\r\n                            Falling trend stalls for daily covid tally                        <\/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\/03\/01\/falling-trend-stalls-for-daily-covid-tally\/\" 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\/03\/01\/falling-trend-stalls-for-daily-covid-tally\/')\">\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\/03\/01\/falling-trend-stalls-for-daily-covid-tally\/\">\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=Falling trend stalls for daily covid tally&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/01\/falling-trend-stalls-for-daily-covid-tally\/\">\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\/03\/01\/falling-trend-stalls-for-daily-covid-tally\/&title=Falling trend stalls for daily covid tally\">\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=Falling+trend+stalls+for+daily+covid+tally+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F01%2Ffalling-trend-stalls-for-daily-covid-tally%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\/03\/01\/falling-trend-stalls-for-daily-covid-tally\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544397\" class=\"content-area-description single-story post-544397 post type-post status-publish format-standard hentry category-covid-watch tag-covid-19 tag-enterpriseam 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\/280355730942315\">reported<\/a><\/strong><strong> 1,523 new covid-19 infections yesterday<\/strong>, up slightly from 1,521 the day before. Egypt has now disclosed a total of 483,771 confirmed cases of covid-19. The ministry also reported 34 new deaths, bringing the country\u2019s total death toll to 24,074.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544398\" 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=\"544398\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/01\/war-in-ukraine-is-like-a-bric-to-the-face-for-foreign-investors\/\">\r\n                            War in Ukraine is like a BRIC to the face for foreign investors                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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              <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=War+in+Ukraine+is+like+a+BRIC+to+the+face+for+foreign+investors+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F01%2Fwar-in-ukraine-is-like-a-bric-to-the-face-for-foreign-investors%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\/03\/01\/war-in-ukraine-is-like-a-bric-to-the-face-for-foreign-investors\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544398\" class=\"content-area-description single-story post-544398 post type-post status-publish format-standard hentry category-planet-finance tag-enterpriseam tag-planet-finance tag-war-in-ukraine wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a><strong> LIKE A BRIC TO THE FACE FOR FOREIGN INVESTORS- Like Big Oil, the <\/strong><strong>Grand Wizzards of High Finance are scrambling<\/strong> to figure out what to do with their massive exposure to Russia. <a href=\"https:\/\/www.ft.com\/content\/ff0f0533-ca8f-4e7b-9cd8-28710dcee5f7\">Foreign fund managers hold at least USD 150 bn in Russian stocks and bonds<\/a> and are \u201cscrambling to find ways to execute trades after western sanctions froze the country out of the global financial system.\u201d Some USD 86 bn of that figure is in equities, and the Moscow stock exchange was closed yesterday.<\/p><p><strong>The Moscow Exchange was closed yesterday \u2014 <\/strong><strong>and may be again today<\/strong><strong>. <\/strong>Russia\u2019s central bank <a href=\"https:\/\/www.cbr.ru\/press\/pr\/?file=28022022_205401SUP_MEAS28022022_205427.htm\">said yesterday<\/a> that it would announce tomorrow morning at 9am Moscow time when the next trading session would take place. Better still: The <a href=\"https:\/\/www.ft.com\/content\/ff0f0533-ca8f-4e7b-9cd8-28710dcee5f7\">FT reports<\/a> that the central bank yesterday \u201cbanned overseas institutions from selling local securities on the Moscow Exchange.\u201d<\/p><p><strong>And even if the exchange opens, how will fund managers get money out <\/strong>when Russia is unplugged from the Swift interbank messaging system?<\/p><p><strong>And it\u2019s looking tough to dump foreign-listed Russian companies: <\/strong>Some exchanges are following the lead of Deutsche B\u00f6rse and suspending trading in top Russian names including Aeroflot, Rosneft and Sberbank. And compliance departments are telling traders not to buy the (dip? crash?) as London-listed Russian securities crash in price, the FT noted. Doing otherwise might run them afoul of sanctions.<\/p><p><strong>It\u2019s a USD 10 bn problem for Citi<\/strong>, while Goldman could take a hit in the USD 650 mn neighborhood. The two are the US banks most-exposed to Russia, the <a href=\"https:\/\/www.ft.com\/content\/b51f1bb3-ddc2-49e3-bc26-b211d0f820cb\">FT suggests<\/a>.<\/p><p><strong>Is Total Energies next to head for the exits<\/strong>, following in the footsteps of BP, Shell and Equinor? The company wouldn\u2019t return a call from the <a href=\"https:\/\/www.wsj.com\/articles\/bps-sudden-russia-exit-exposes-risks-for-western-companies-in-ukraine-crisis-11646070000\">Wall Street Journal<\/a> yesterday, and the <a href=\"https:\/\/www.ft.com\/content\/cf7f4bc0-f3a1-4863-809f-c08f6e48642a\">Financial Times<\/a> notes that pressure is ramping up on ExxonMobil, Glencore and Trafigura to do the same.<\/p><p><strong>Others are following suit: <\/strong>HSBC and AerCap \u2014 the world's largest aircraft leasing firm \u2014 <a href=\"https:\/\/www.reuters.com\/business\/bp-exit-opens-new-front-wests-campaign-against-russia-2022-02-27\/\">joined a growing list<\/a> of multinational companies now looking to exit relationships in Russia due to the sanctions.<\/p><p><strong>Russian energy companies have so far been spared the Western sanctions<\/strong> due to their importance in global energy markets and countries fearing for their own supplies \u2014 providing a financial cushion for Putin, the <a href=\"https:\/\/www.wsj.com\/articles\/russian-energy-giants-gazprom-rosneft-fuel-moscows-state-coffers-11646043993?mod=hp_lead_pos3\">Wall Street Journal<\/a> reports.<\/p><p><strong>Oh, and forget about sidestepping sanctions by using crypto: <\/strong>The US Treasury Department is warning crypto exchanges to make sure sanctions-busters don\u2019t use their infrastructure to get money out of Russia, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-02-28\/u-s-prods-crypto-exchanges-to-thwart-russia-sanctions-dodgers\">Bloomberg<\/a>. BTC surged by nearly 15% overnight to hit a <a href=\"https:\/\/www.reuters.com\/markets\/europe\/rouble-licks-wounds-yen-franc-hold-firm-with-focus-squarely-ukraine-2022-03-01\/\">near two-week high<\/a>.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>11,139<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: -6.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>12,590<\/p>\n<\/td>\n<td>\n<p>+1.4% (YTD: +11.6%)<\/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>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>9,319<\/p>\n<\/td>\n<td>\n<p>+2.2% (YTD: +9.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,355<\/p>\n<\/td>\n<td>\n<p>+1.3% (YTD: +5.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,374<\/p>\n<\/td>\n<td>\n<p>-0.2% (YTD: -8.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,458<\/p>\n<\/td>\n<td>\n<p>-0.4% (YTD: +1.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 100.99<\/p>\n<\/td>\n<td>\n<p>+3.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 4.40<\/p>\n<\/td>\n<td>\n<p>-0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,908<\/p>\n<\/td>\n<td>\n<p>+0.4%<\/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>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 41,636<\/p>\n<\/td>\n<td>\n<p>+11.2% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 fell 0.3% at yesterday\u2019s close<\/strong> on turnover of EGP 799 mn (20.8% below the 90-day average). Foreign investors were net sellers. The index is down 6.8% YTD.<\/p><p><strong>In the green: <\/strong>Fawry (+5.3%), Eastern Company (+2.9%) and e-Finance (+2.0%).<\/p><p><strong>In the red: <\/strong>Orascom Development Egypt (-4.8%), Heliopolis Housing (-4.4%) and Palm Hills Development (-2.8%).<\/p><p><strong>Asian markets are up<\/strong><strong> almost across the board in early trading. It\u2019s another story in Europe and the US<\/strong>, where futures suggest all the major indices will open in the red as the tumult in Ukraine continues to whipsaw global markets.<\/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\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/war-in-ukraine\/\">War in 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=\"544399\" 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=\"544399\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/01\/uae-egypt-reinsurance-pact-to-boost-exports\/\">\r\n                            UAE-Egypt reinsurance pact to boost exports                        <\/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\/03\/01\/uae-egypt-reinsurance-pact-to-boost-exports\/\" 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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Inked between the two countries\u2019 export credit agencies \u2014 <a href=\"https:\/\/eci.gov.ae\/home\">Etihad Credit Ins.<\/a> and <a href=\"https:\/\/www.ege-eg.com\/\">Export Credit Guarantee Egypt<\/a> \u2014 the agreement is set to offer credit ins. to protect trade and investment and boost exports between Egypt and the UAE.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544400\" 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=\"544400\">\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\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/01\/turkish-opposition-moves-against-erdogan-libya-could-get-a-new-interim-govt-this-week\/\">\r\n                            Turkish opposition moves against Erdogan + Libya could get a new interim gov\u2019t this week                        <\/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\/03\/01\/turkish-opposition-moves-against-erdogan-libya-could-get-a-new-interim-govt-this-week\/\" 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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Public discontent with the Turkish president is rising as spiraling inflation inflicts economic pain. (<a href=\"https:\/\/www.ft.com\/content\/59ae0ac9-e187-48e2-8a26-881920569dfb\">Financial Times<\/a>)<\/p>\n<p><strong>Libyan legislators to vote on new gov\u2019t this week: <\/strong>Libya\u2019s parliament will \u201clikely\u201d vote on a new interim government in a session this week, as the incumbent administration continues to refuse to hand over power. (<a href=\"https:\/\/www.reuters.com\/world\/africa\/libya-parliament-vote-new-government-next-week-2022-02-24\/\">Reuters<\/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\/around-the-world\/\">Around the World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/libya\/\">Libya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/recep-tayyip-erdogan\/\">Recep Tayyip Erdogan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/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=\"544401\">\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\">14<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/egyptera-is-packaging-incentives-for-solar-producers-ahead-of-cop27\/\">\r\n                            Egyptera is packaging incentives for solar producers ahead of COP27<\/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\/egyptera-is-packaging-incentives-for-solar-producers-ahead-of-cop27\/\" 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 amendments, which were proposed by the Electricity Ministry, are being billed as part of the state\u2019s drive to transition to clean energy and encourage investment in renewables ahead of COP27 in Sharm El Sheikh this November.<\/p>\n<p><strong>The incentives roll back some caps previously imposed on net metering:<\/strong> Egyptera decided to entirely scrap a <a href=\"https:\/\/enterprise.press\/hardhats\/covid-19-impacting-egypts-renewable-energy-sector-part-3-overcapacity-problem\/\">2020 decision<\/a> that imposed a cap on how much solar energy private-sector players can generate under net metering \u2014 a pay as you go billing system for renewable energy producers. The cap, which was originally introduced to limit renewable energy generation amid a supply glut, had capped installed solar capacity per distribution company at 1.5% of the company\u2019s maximum distribution capacity during the previous fiscal year.<\/p>\n<p><strong>Egyptera also raised the limit on the aggregate capacity of all developers across the country under the net metering scheme to 1 GW<\/strong>, from 300 MW previously.<\/p>\n<p><strong>Amendments to integration fees for net metering + self-consumption:<\/strong> The new regulations also amend a recent decision to impose <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/226add0f-f85d-40a2-9c1a-60a806b5aa5b\">integration fees<\/a> on solar plant operators. The fees will now be imposed on solar plants producing 1 MW or more of energy, rather than those producing more than 500 kW of power. Last month, the Electricity Ministry had decided that these operators would pay EGP 0.257- 0.329 per KWh in integration fees to help defray the costs of connecting to the national grid.<\/p>\n<p><strong>How does the solar industry feel about these changes?<\/strong> In a nutshell, industry leaders we spoke with agree that Egyptera\u2019s incentives are positive overall, but more needs to be done to prop up the nascent sector and make it truly attractive. The decision is a \u201cbig step forward\u201d for the solar industry and aligns with the government\u2019s target to expand Egypt\u2019s renewable capacity to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/46eb0c0b-2e62-47e0-8423-05c5359f3275\">cover 42% of the country\u2019s energy needs<\/a> by 2030, industry body the Sustainable Energy Development Association (SEDA) said in a <a href=\"https:\/\/www.facebook.com\/387740631302603\/posts\/4780927768650512\/\">statement<\/a>. Egyptera\u2019s incentives will have a positive impact on the feasibility of solar investments, SEDA said. The association and other stakeholders have been lobbying over the past several weeks, SEDA head Ayman Abdel Halim told Enterprise.<\/p>\n<p><strong>And while they are positive, the incentives fall short and don\u2019t necessarily address the bigger issues:<\/strong> The decision to raise the cap on renewables will benefit the sector, but they are not enough to provide a real financial incentive to transition to solar, SolarizEgypt founder and Managing Director Yaseen Abdel Ghaffar tells Enterprise. Even with the incentives, net metering is not financially attractive enough, and the decisions will not have a significant impact on self-consumption, he says. The recently-imposed integration fees \u201cmake it very difficult\u201d for solar producers to reach 1 GW of aggregate capacity \u2014 or even the previous 300 MW limit \u2014 as the infrastructure required to issue licenses and support documentation is not there, Abdel Ghaffar tells us. Additionally, \u201cmost credit-worthy offtakers have a much larger consumption pattern,\u201d meaning their savings on their overall bill are minimal and it therefore doesn\u2019t make sense for them to commit to 25-year power purchase agreements. \u201cThe integration fees simply make the model not feasible,\u201d he says.<\/p>\n<p><strong>Self-consumption accounts for the bulk of solar energy production:<\/strong> Some 80% of the solar market continues to be off-the-grid, primarily projects that connect directly to water pumps in areas without electricity coverage. These produce solar energy for limited self-consumption and don\u2019t sell excess production back to the government \u2014 a phenomenon that one solar producer who asked to remain anonymous, tells us is primarily rural. Integration fees and net metering regulations will not have much of an impact on these producers, the anonymous source says, echoing Abdel Ghaffar\u2019s sentiment.<\/p>\n<p><strong>Industry leaders agree that incentives must be long-term and sustainable:<\/strong> Although Egyptera\u2019s incentives are a positive step, SEDA called for a package of regulations and more incentives to further support solar investments, particularly to facilitate procedures for investors and consumers alike. The body also urged the nation\u2019s banks to actively contribute to financing solar power and renewable energy projects. Abdel Ghaffar agrees, telling Enterprise that the latest package of incentives are not enough to address overall uncertainty in the solar industry.<\/p>\n<p><strong>The long-term view is critical, as the appetite (not to mention market) for solar remains strong.<\/strong> Although SMEs in the industry receive ample support, companies that outgrow the initial SME phase traditionally haven\u2019t received much by way of incentives, making scaling a difficult undertaking, Abdel Ghaffar tells us. There\u2019s a real viable business model for solar in Egypt for both developers and clients to make savings, but what is crucial to the sustainability of the sector for both local and foreign investors is the long-term policies that are put in place, he says.<\/p>\n<p><strong>The push for sustainable incentives comes as Egypt\u2019s solar industry is already contending with several challenges that have hindered its growth:<\/strong> In addition to an oversupply issue that had birthed Egyptera\u2019s previous policies on capacity limits, solar producers were recently hit with a 5% import tariff on <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/39795576-3662-4f64-bcaf-c3ee4cccb768\">solar panels<\/a> and photovoltaic cells (PVCs), both of which were previously exempt from tariffs. The tariff on PVCs will have an outsized impact on solar producers compared to integration fees and net metering regulations, Abdel Ghaffar told us.<\/p>\n<p><strong>The industry is also still reeling from rising prices and supply chain snarls. <\/strong>The industry was hit with surging freight costs and rising prices of commodities like aluminum, steel, copper and silicon last year, all of which are used to establish new PV plants, which has resulted in higher prices, tighter margins and, in some cases, <a href=\"https:\/\/enterprise.press\/stories\/2021\/09\/16\/two-renewable-energy-producers-want-to-delay-work-on-their-egypt-projects-53679\/\">project delays<\/a> \u2014 including for large scale projects like ACWA Power\u2019s Kom Ombo power plant and Al Nowais\u2019 Benban. One industry player told us that solar producers have seen the price per watt rise from EGP 4 to EGP 5.7 because of supply chain problems alone, with the additional tariff raising the price to EGP 5.9 per watt.<\/p>\n<p><strong>Renewables represent 20% of the maximum capacity of power generation in Egypt<\/strong>, Eng. Ehab Ismail, Vice President of the New and Renewable Energy Authority told us, adding that Egypt has a pipeline of 3.5 GW of renewables projects, broken down into 2.8 GW of wind projects and 700 MW of solar projects, for a total investment of USD 3.5 bn (c.EGP 55 bn).<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top climate stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Shell Egypt <\/strong><strong><a href=\"https:\/\/bit.ly\/3M8T93p\">is working<\/a><\/strong><strong> with EGAS and Schlumberger<\/strong> to assess potential decarbonization projects in Egypt.<\/li>\n<li>The Finance Ministry is <a href=\"https:\/\/bit.ly\/36R2Q6D\">looking to increase<\/a> <strong>the percentage of green public investments to <\/strong><strong>50%<\/strong><strong> by FY2024-2025<\/strong>, as part of efforts to improve Egypt's competitiveness in the environmental performance index.<\/li>\n<li><strong>Egypt, UK, UNFCC urge climate action:<\/strong> Egypt, UK, and the United Nations Framework Convention on Climate Change (UNFCC) published a <a href=\"https:\/\/www.gov.uk\/government\/news\/joint-statement-from-uk-egypt-and-unfccc-in-response-to-ipcc-working-group-2-report\">joint statement<\/a> urging developed nations to follow through on commitments made under the Paris Agreement and the UNFCC framework, including doubling climate finance to developing countries, ahead of COP27 in November.<\/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\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptera\/\">Egyptera<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                   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                <\/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=\"544403\" 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\/03\/01\/544403\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544403\" class=\"content-area-description single-story post-544403 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>24 February-7 March (Thursday-Monday): <a href=\"https:\/\/www.facebook.com\/Diarna.moss\">Diarna Handicrafts Fair<\/a>. Cairo Festival City, Cairo.<\/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<\/p>\n<p>replace the existing \u201cclosed\u201d financial management system.<\/p>\n<p>March: Contracts for last two phases of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e2356273-f17c-4a5b-a987-663aab9a2e29\">Egypt\u2019s USD 4.5 bn high-speed rail line<\/a> to be signed.<\/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 &ndash; new administrative capital &ndash; 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>20 March (Sunday): Applications close for Visa\u2019s global startup competition, the <a href=\"https:\/\/usa.visa.com\/visa-everywhere\/everywhere-initiative\/initiative.html\">Visa Everywhere Initiative<\/a>.<\/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&#39; 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&#39; 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":544377,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-544376","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"8c6de045-94cf-49af-b3c2-56dc78faf955","teaser":"","photo_url":"https:\/\/ent.news\/2022\/3\/1.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>War, wheat, bread and babies - 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\/war-wheat-bread-and-babies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"War, wheat, bread and babies\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/war-wheat-bread-and-babies\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T20:38:58+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/1.jpg?fit=%2C&ssl=1\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/war-wheat-bread-and-babies\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/war-wheat-bread-and-babies\/\",\"name\":\"War, wheat, bread and babies - 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