{"id":544405,"date":"2022-03-02T04:12:01","date_gmt":"2022-03-02T04:12:01","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=544405"},"modified":"2025-12-15T20:39:37","modified_gmt":"2025-12-15T20:39:37","slug":"govt-ups-domestic-wheat-purchase-targets-as-war-in-ukraine-challenges-global-market","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/govt-ups-domestic-wheat-purchase-targets-as-war-in-ukraine-challenges-global-market\/","title":{"rendered":"Gov\u2019t ups domestic wheat purchase targets as war in Ukraine challenges global market"},"content":{"rendered":"<section id=\"544407\" 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=\"544407\">\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\/02\/this-morning-russia-ramps-up-rocket-fire-on-ukrainian-cities-ipo-in-the-cards-for-new-capital-subsidiaries\/\">\r\n                            THIS MORNING: Russia ramps up rocket fire on Ukrainian cities + IPO in the cards for new capital subsidiaries                        <\/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\/02\/this-morning-russia-ramps-up-rocket-fire-on-ukrainian-cities-ipo-in-the-cards-for-new-capital-subsidiaries\/\" 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 big story here at home is fallout from the war in<\/strong> <strong>Ukraine<\/strong> as the Madbouly government took quick steps yesterday to shore up our wheat reserves and domestic harvest amid ongoing disruptions in the international market for the grain.<\/p><p><strong>What they\u2019re doing: <\/strong>As we report below, the government will buy substantially more wheat from local farmers this harvest season \u2014 and make it easier for smaller farmers to grow the crop ahead of the next planting season.<\/p><p><strong>Take a nice, deep breath: <\/strong>It\u2019s natural that the global market is in a bit of disarray right now, but markets have a tendency to work things out \u2014 and state grain buyer GASC is the biggest, most experienced player in that global market. With a four-month stockpile in place and the government now buying more domestically, GASC has some breathing room. Its goal: Not to buy now at exorbitant prices if it expects some measure of order to slowly return to the market in the coming days and weeks.<\/p><p><strong>HERE\u2019S WHAT YOU NEED TO KNOW about the war in Ukraine this morning:<\/strong><\/p><ul>\n<li><strong>Russia stepped up its assault on Ukraine\u2019s biggest cities<\/strong>, firing missiles (and, reportedly, cluster munitions) on urban areas as the <a href=\"https:\/\/www.ft.com\/content\/e51014c3-0b97-4a3d-8a19-bc49b3ccd042\">war rages on<\/a> for the seventh day. Cities hit include Kyiv and Kharkiv.<\/li>\n<li><strong>There won\u2019t be another round of peace talks unless Russia stops targeting Ukrainian civilians<\/strong>, Ukrainian President Volodymyr Zelenskiy told <a href=\"https:\/\/www.reuters.com\/world\/ukraines-president-russia-stop-your-bombs-before-ceasefire-talks-can-start-2022-03-01\/\">Reuters<\/a> yesterday.<\/li>\n<li><strong>Reshaping the global order, Part 1: <\/strong>Erdogan isn\u2019t opposed to Nato enlargement, more EU politicians are talking favorably about <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-01\/eu-agrees-to-move-to-the-next-step-in-ukraine-s-membership-bid?srnd=premium-middle-east&amp;sref=mmeFTDW1\">immediately making Ukraine a member<\/a> (a decision could come as early as next week), and China is putting some <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-01\/china-urges-protection-of-ukraine-civilians-in-shift-from-russia?srnd=premium-middle-east&amp;sref=mmeFTDW1\">daylight between itself and Moscow<\/a>.<\/li>\n<li><strong>Reshaping the global order, Part 2: <\/strong>Moscow demanded that Western countries <a href=\"https:\/\/www.reuters.com\/world\/no-military-bases-ex-soviet-countries-russia-tells-west-2022-03-01\/\">pull back from bases<\/a> in countries that used to be part of the Soviet Union \u2014 and doubled down on its (so far baseless) claim that <a href=\"https:\/\/www.reuters.com\/world\/russias-lavrov-says-there-is-danger-ukraine-acquiring-nuclear-weapons-2022-03-01\/\">Ukraine is seeking nuclear weapons<\/a>.<\/li>\n<li><strong>Fund managers: Kiss your dividends goodbye. <\/strong>The forecast heading into 2022 was that dividends would grow slower this year than last (a record year for divvies). With a <a href=\"https:\/\/www.nytimes.com\/2022\/03\/01\/business\/investors-ukraine-russia-markets.html\">Second Cold War now clearly underway<\/a> and a high-inflation environment here to stay a while, the <a href=\"https:\/\/www.ft.com\/content\/b2206887-215f-4989-915b-fb3a0ffe20cc\">Financial Times<\/a> suggests dividends are going to come under even more pressure.<\/li>\n<\/ul><p><strong>AT THE SAME TIME- The G7 is acting more like a bloc on foreign policy. <\/strong>The group of leading industrialized economies said yesterday it will offer \u201csignificant\u201d financial support to Ukraine \u2014 and <a href=\"https:\/\/www.gov.uk\/government\/news\/g7-finance-ministers-statement-on-ukraine\">promised more sanctions for Russia<\/a>.<\/p><p><strong>G7 ambassadors in Cairo also released a statement yesterday calling on Egypt to stand<\/strong> <strong>with Ukraine. <\/strong><a href=\"https:\/\/ent.news\/2022\/3\/G7-op-ed-Cairo.pdf\">The statement (pdf)<\/a> has gotten traction here at home (<a href=\"https:\/\/bit.ly\/3hvLmyU\">Al Shorouk<\/a> | <a href=\"https:\/\/bit.ly\/3MhaxmI\">Al Mal<\/a>) and wide pickup in Gulf media (<a href=\"https:\/\/www.thenationalnews.com\/mena\/egypt\/2022\/03\/01\/egypt-treads-careful-middle-ground-on-russia-ukraine-conflict\/\">The National<\/a>). The G7 ambassadors said they welcomed Egypt\u2019s support for Ukrainian tourists stranded here, noting our \u201cuniquely Egyptian sense of warmth and hospitality.\u201d They then name-checked Gamal Abdel Nasser, our long history of careful diplomacy, and \u201cthe honour of standing up for the rights of others\u201d as they asked Egypt to stand with Ukraine when the UN General Assembly meets this week. Egypt maintains good relations with both Russia and Ukraine, which together account for about a third of our inbound tourism market and as much as 80% of our wheat supply.<\/p><p><strong>HAPPENING NOW-<\/strong><\/p><p><strong>\u201cWe are inflicting pain on Russia and supporting the people of Ukraine.\u201d <\/strong>That was the central message of US President Joe Biden\u2019s <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/speeches-remarks\/2022\/03\/01\/remarks-of-president-joe-biden-state-of-the-union-address-as-delivered\/\">State of the Union speech<\/a>, which is wrapping up just as we press \u201csend\u201d on this morning\u2019s issue. Biden promised to redouble the economic attack on Russia, including by closing off US airspace to Russian planes and seizing oligarchs\u2019 \u201cill-begotten gains\u201d in tandem with European partners. The economy was the other central theme of the annual address, with Biden <a href=\"https:\/\/www.wsj.com\/articles\/state-of-union-2022-biden-11646101886?mod=hp_lead_pos4\">pitching his plan<\/a> to combat high prices by boosting domestic production, after US inflation reached its fastest pace in four decades.<\/p><p><strong>It wouldn\u2019t be a Biden speech without a slip of the tongue: <\/strong>\u201cPutin may circle Kyiv with tanks, but he'll never gain the hearts and souls of the Iranian people,\u201d Biden said. <a href=\"https:\/\/www.axios.com\/biden-ukrainians-iranians-state-of-the-union-6cf2fd89-a252-4ef4-b4d7-3cdc8042957a.html\">The world was quick to point out<\/a> that the people of Kyiv are Ukrainians, not Iranians.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p><strong>TWEET OF THE MORNING-<\/strong> \u201cHonestly if you don't use shatafa \/ bidet you have 0 legs to stand on calling the rest of us uncivilized.\u201d \u2013Former Guardian Mideast correspondent <a href=\"https:\/\/twitter.com\/kshaheen\">Kareem Shaheen<\/a><\/p><p><strong>SIGN OF THE TIMES #1- Serena Williams is now a big-time venture capitalist. <\/strong>A reminder you can always have a second act in life. One of the best players to ever pick up a racquet, Williams is a longtime angel investor and apparently didn\u2019t break a sweat <a href=\"https:\/\/www.serenaventures.com\/post\/grow-your-blog-community\">raising a USD 111 mn inaugural fund<\/a>. You can check our her <a href=\"https:\/\/www.serenaventures.com\/\">Serena Ventures site here<\/a> or catch a glimpse of her appearance on CNBC\u2019s <a href=\"https:\/\/twitter.com\/squawkcnbc\/status\/1498652413527531521?s=12&amp;utm_source=pocket_mylist\">Squawk Box here<\/a>.<\/p><p><strong>SIGN OF THE TIMES #2- Urban adventure photographer (and crypto fan) Drifter Shoots <\/strong><strong>just became the first Black photographer to make it to auction at Christies. <\/strong>He celebrated with a <a href=\"https:\/\/twitter.com\/driftershoots\/status\/1498685526827798534?s=12&amp;utm_source=pocket_mylist\">highlight video that you do NOT want to watch if you have a fear of heights<\/a>.<\/p><p><strong>SIGN OF THE TIMES #3- The UAE has relaxed covid-19 restrictions<\/strong> and will <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/uae-drops-face-masks-outdoors-quarantine-covid-contact-cases-2022-02-27\/\">no longer<\/a><a href=\"https:\/\/www.reuters.com\/world\/middle-east\/uae-drops-face-masks-outdoors-quarantine-covid-contact-cases-2022-02-27\/\">require masks be worn outdoors<\/a>.<\/p><hr class=\"grey-line\"><p><strong>HAPPENING TODAY-<\/strong> <strong>You can expect OPEC+ to stick to its gradual supply increases <\/strong>when it meets today, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-01\/opec-expected-to-agree-another-modest-supply-boost-amid-turmoil?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> reports. Analysts and traders expect the oil cartel will agree to another 400k barrel per day oil production increase \u2014 which won\u2019t do much to stall rocketing prices as Russia\u2019s invasion of Ukraine exacerbates a preexisting supply crunch.<\/p><p><strong>Cue: An emergency release of US reserves to the rescue? <\/strong>Members of the International Energy Agency (IEA) will deploy <a href=\"https:\/\/www.iea.org\/news\/iea-member-countries-to-make-60-million-barrels-of-oil-available-following-russia-s-invasion-of-ukraine\">60 mn barrels of emergency oil<\/a> stockpiles in a bit to tamp down prices. The US will contribute half the amount from its strategic reserve, while the rest will come from IEA members in Europe and Asia, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-01\/iea-will-deploy-emergency-oil-stockpiles-to-ease-soaring-prices\">Bloomberg<\/a> quoted unidentified sources as saying.<\/p><p><strong>The IEA\u2019s announcement hasn\u2019t cooled the markets so far: <\/strong>Brent crude closed up a whopping 7.1% yesterday at USD 104.97 per barrel.<\/p><p><strong>MEANWHILE- (Some) smokes are getting more expensive- <\/strong>Eastern Company has hiked the prices of several of its own brand cigarettes by EGP 0.5-1 per pack, according to a <a href=\"https:\/\/ent.news\/2022\/3\/%D8%A7%D9%8A%D8%B3%D8%AA%D8%B1%D9%86-%D8%A8%D9%8A%D8%A7%D9%86-1-3-2022-1.pdf\">regulatory<\/a><a href=\"https:\/\/ent.news\/2022\/3\/%D8%A7%D9%8A%D8%B3%D8%AA%D8%B1%D9%86-%D8%A8%D9%8A%D8%A7%D9%86-1-3-2022-1.pdf\">filing (pdf)<\/a>. The changes came into effect yesterday. The company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/21ea4b72-fcd1-48f6-b151-20791fec3e4a\">last hiked price points<\/a> last year. Both sets of increases came on the back of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ed2d4031-6769-4868-aa2e-2be38b1926b9\">VAT Tax amendments<\/a> approved in 2020, which placed additional taxes on <s>cancer sticks<\/s> cigarettes.<\/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><strong> today<\/strong> to discuss topics including inclusivity in investment. The agenda includes a panel discussion on gender-lens funding here in Egypt.<\/p><p><strong>HAPPENING TOMORROW- 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> tomorrow at 6:15am CLT. Non-oil business activity in Egypt contracted for the fourteenth consecutive month <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a533fba9-e013-44ee-8bd9-ad967da1c1e5\">in January<\/a> on the back of weaker demand and inflationary pressure, recording the lowest reading since April 2021 and falling below the series average.<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>Key news triggers to keep your eye on<\/strong> over the next few weeks:<\/p><ul>\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><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>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\/2020\/1\/Web-view-01.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s <\/strong><strong>Hardhat<\/strong><strong> day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education.<\/p><p><strong>In today\u2019s issue: <\/strong>The government now has a database to boost transparency and efficiency in public-private partnership (PPP) projects, after the International Monetary Fund lent us some technical assistance. In this week\u2019s Hardhat, we delve into the report from the IMF\u2019s technical team, unpacking how the database will work, what we stand to gain from implementing it, and where we can exploit the potential of the PPP model to turbocharge the national infrastructure drive.<\/p>\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\/eastern-company\/\">Eastern Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/g7\/\">G7<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/joe-biden\/\">Joe Biden<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/opec\/\">OPEC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ukraine\/\">Ukraine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/war\/\">war<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544408\" 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=\"544408\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/02\/544408\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544408\" class=\"content-area-description single-story post-544408 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\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=\"544409\" 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=\"544409\">\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\/02\/local-harvest-will-be-a-critical-cushion-as-russia-ukraine-war-challenges-global-market\/\">\r\n                            Local harvest will be a critical cushion as Russia-Ukraine war challenges global market                        <\/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\/02\/local-harvest-will-be-a-critical-cushion-as-russia-ukraine-war-challenges-global-market\/\" 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\" 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src=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/16.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"544410\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/02\/local-harvest-will-be-a-critical-cushion-as-russia-ukraine-war-challenges-global-market\/16-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/16.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"16.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/16.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/16.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544409\" class=\"content-area-description single-story post-544409 post type-post status-publish format-standard has-post-thumbnail hentry category-war-watch tag-commodities tag-enterpriseam tag-russia-ukraine-war tag-war-watch 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-01\"><\/a> <strong>The Madbouly government plans to buy 5.5 mn tons of wheat <\/strong><strong>from local farmers during the upcoming season<\/strong>, Supply Minister Ali El Moselhy said in an interview with Ala Mas\u2019ouleety\u2019s Ahmed Moussa (<a href=\"https:\/\/www.youtube.com\/watch?v=TIpMOZK1YGM\">watch, runtime 1:47:10<\/a>) last night, upping previous purchase plans by more than a third as Russia\u2019s invasion of Ukraine has thrown the global grain market into disarray.<\/p>\n<p><strong>This is <\/strong><strong>a 38% increase<\/strong><strong> from the government\u2019s previous target. <\/strong>The state had previously expected to <a href=\"https:\/\/www.facebook.com\/photo.php?fbid=514321016723298&set=a.324472705708131&type=3\">collect 4 mn tons<\/a>, which El Moselhy last week said would help cover Egypt\u2019s needs through the end of the year alongside the current four-months stockpile. <strong>The 5.5 mn tons the government now plans to buy would cover the equivalent of around a quarter of local consumption<\/strong> for the 12 months through the end of September 2022, on the basis of the most recent <a href=\"https:\/\/ent.news\/2022\/2\/Grain-and-Feed-Annual_Cairo_Egypt_03-15-2021.pdf\">estimates (pdf)<\/a> from the US Foreign Agricultural Service.<\/p>\n<p><strong>BACKGROUND- <\/strong>State grain buyer GASC has called off two tenders in recent days due to a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/10eab519-405d-4e8c-9825-11a03e8b7926\">shortage of offers<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/16670d8f-ff7e-4942-8c23-7f16a463f32f\">high prices<\/a> as the grain market sorts out the impact of Russia\u2019s invasion. Together, <strong>the <\/strong><strong>two countries account for nearly a third of the world\u2019s wheat supply<\/strong>, and some 60-80% of our grain imports at any given time.<\/p>\n<p><strong>Targeting a better harvest: <\/strong>Prime Minister Mostafa Madbouly has given orders to increase the number of wheat collection points and slash red tape with a view to making it easier for small farmers to grow wheat, El Moselhy said in the interview. The government also brought back to life the decades-old <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/af1b5628-23bb-4b70-8569-973225e9fcf7\">Toshka agricultural project<\/a> in December, which El Moselhy said is expected to save about USD 1 bn in the country\u2019s wheat budget by 2025.<\/p>\n<p><strong>How much of the wheat we need can we feasibly grow ourselves?<\/strong> Egypt aims to achieve 60-62% self-sufficiency in the grain this season, Agriculture Minister El Sayed El Quseir told <a href=\"https:\/\/www.asharqbusiness.com\/article\/33165\">Bloomberg Asharq<\/a> last month, adding that the country has cultivated 3.6 mn acres with wheat, which should produce 9.5 to 10 mn tons.<\/p>\n<p><strong>Homegrown wheat isn\u2019t totally insulated from global price hikes: <\/strong>Even before war broke out, the government had agreed to pay <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/15d45665-349c-485e-b1cb-1fc861ae8204\">13% more for local wheat<\/a> this season than it did in 2021, after a global supply squeeze saw prices hit a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/01393c38-caed-41c5-a0dd-1d4724b14015\">ten-year high<\/a> and the price of inputs such as fertilizer rose. The price hikes were expected to take an additional <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/30bc9b32-0682-476e-b93c-cd733864721d\">EGP 12 bn<\/a> out of the state budget this fiscal year \u2014 again, before conflict hit the Black Sea and prices spiked yet further. Chicago wheat futures closed up 5.4% yesterday.<\/p>\n<p><strong>On the imports front, we\u2019re still pushing to diversify supply.<\/strong> Egypt has extended its imported wheat moisture level specifications for an additional year, as the government looks to diversify its supply sources amid the Russia-Ukraine crisis, the Trade Ministry said in a <a href=\"https:\/\/www.facebook.com\/mift.media\/posts\/325932942911320\">statement<\/a>. The decision, which will be in force until April 2023, caps moisture content in wheat shipments at 13.5%, 0.5 percentage points higher than the normal 13% limit. The government is also still <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4d62e3f0-9d66-4bf5-8447-110e1540903c\">studying hedging wheat<\/a>.<\/p>\n<p><strong>Could the international community do more to help? <\/strong>As fuel, food, and fertilizer prices rise on the back of Russia\u2019s war, food security professors Michael J. Puma and Megan Konar are warning of \u201can accelerating food crisis rippling outward from Ukraine\u201d to vulnerable African countries in the <a href=\"https:\/\/www.nytimes.com\/2022\/03\/01\/opinion\/what-the-war-in-ukraine-means-for-the-worlds-food-supply.html?partner=IFTTT\">New York Times<\/a>. They\u2019re calling on Western countries to avoid restricting grain exports, make sure sanctions don\u2019t threaten food security, work to reduce fertilizer costs by suppressing energy prices, divert some oil and corn currently used to create fuel and ethanol back to the food markets, and increase financing for humanitarian aid.<\/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\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia-ukraine-war\/\">Russia-Ukraine war<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/war-watch\/\">war watch<\/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=\"544411\" 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=\"544411\">\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\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/02\/ci-capital-lands-mandate-to-ipo-parts-of-the-new-capital\/\">\r\n                            CI Capital lands mandate to IPO (parts of) the new capital                        <\/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\/02\/ci-capital-lands-mandate-to-ipo-parts-of-the-new-capital\/\" 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 company plans to offer shares in its \u201csubsidiaries that operate in the fields of electricity and management,\u201d Abdeen reportedly said, without disclosing their names or the potential stake sizes on offer. The listing is expected to take place in two years\u2019 time, he said.<\/p>\n<p><strong>We had been expecting ACUD itself to IPO on the same timeline, <\/strong>according to statements from President Abdel Fattah El Sisi last summer<strong>.<\/strong> El Sisi said the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f63d3ff5-2693-4e97-94c7-b4638ef57a75\">\u201crecord IPO<\/a>\u201d could take place within the next two years. ACUD \u2014 the company responsible for management of the new capital \u2014 owns EGP 100 bn worth of liquid assets, holding between EGP 3-4 tn in assets under management, El Sisi said \u2014 meaning its EGX debut would be Egypt\u2019s largest-ever listing.<\/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\/ci-capital\/\">CI Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/new-administrative-capital\/\">new administrative capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544413\" 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=\"544413\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/02\/gb-auto-mulls-selling-a-portion-of-its-stake-in-mnt-investments\/\">\r\n                            GB Auto mulls selling a portion of its stake in MNT Investments                        <\/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\/02\/gb-auto-mulls-selling-a-portion-of-its-stake-in-mnt-investments\/\" 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\/02\/gb-auto-mulls-selling-a-portion-of-its-stake-in-mnt-investments\/')\">\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\/02\/gb-auto-mulls-selling-a-portion-of-its-stake-in-mnt-investments\/\">\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=GB Auto mulls selling a portion of its stake in MNT Investments&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/02\/gb-auto-mulls-selling-a-portion-of-its-stake-in-mnt-investments\/\">\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\/02\/gb-auto-mulls-selling-a-portion-of-its-stake-in-mnt-investments\/&title=GB Auto mulls selling a portion of its stake in MNT Investments\">\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=GB+Auto+mulls+selling+a+portion+of+its+stake+in+MNT+Investments+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F02%2Fgb-auto-mulls-selling-a-portion-of-its-stake-in-mnt-investments%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\/02\/gb-auto-mulls-selling-a-portion-of-its-stake-in-mnt-investments\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/19.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"544414\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/02\/gb-auto-mulls-selling-a-portion-of-its-stake-in-mnt-investments\/19-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/19.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"19.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/19.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/19.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544413\" class=\"content-area-description single-story post-544413 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-enterpriseam tag-gb-auto tag-ma-watch tag-recycle-key wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>GB Capital is <\/strong><strong>mulling <\/strong><strong>a partial sale of its Netherlands-based finance subsidiary <\/strong><strong>MNT <\/strong><strong>Investments<\/strong>, which is majority owned by the GB Auto subsidiary, the company announced in a <a href=\"https:\/\/ent.news\/2022\/3\/GB-Auto-MNT-Investment.pdf\">regulatory filing (pdf)<\/a>. The statement did not specify the number of shares GB Capital is looking to sell, but said it began considering the transaction after other MNT Investment shareholders expressed interest in selling a portion of their stakes to an unnamed investor.<\/p>\n<p><strong>Who\u2019s selling?<\/strong> The company did not name the shareholders intending to sell stakes in MNT. We do know that Africa-focused private equity firm Development Partners International is among the company\u2019s current shareholders. GB Auto also sold a 5% stake to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/55bf70dd-17f8-4034-a441-b6a35be1779a\">\u201cunnamed foreign investors\u201d<\/a> last year.<\/p>\n<p><strong>Advisors:<\/strong> Arqaam Capital has been appointed to advise GB Capital on options to \u201cenhance the benefit of its investments and contributions in subsidiaries.\u201d.<\/p>\n<p><strong>IN OTHER M&A NEWS- <\/strong><\/p>\n<p><strong>Recycle Key in talks with potential partners for new factory: <\/strong>E-waste recycling company Recycle Key is in talks with three similar companies to potentially enter a joint venture set up <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b7f4f013-350b-42dc-99fc-49658f1ebfa4\">its new EGP 200 mn recycling facility<\/a> in Sadat City\u2019s industrial zone, <a href=\"https:\/\/bit.ly\/3httzYZ\">Al Borsa<\/a> quotes company head Mohamed Sayed as saying. Recycle Key is also in talks with Banque Misr, the National Bank of Egypt, and Suez Canal Bank to potentially finance the factory as an alternative to a JV.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gb-auto\/\">GB Auto<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/recycle-key\/\">Recycle Key<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544415\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"544415\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/02\/544415\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544415\" class=\"content-area-description single-story post-544415 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/whatsnext.enterprise.press\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/New-Banners-English-v2_1600-text-1.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n<ul>\n<li> <\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544416\" 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=\"544416\">\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\/02\/saudis-sary-acquires-egyptian-marketplace-mowarrid\/\">\r\n                            Saudi\u2019s Sary acquires Egyptian marketplace Mowarrid                        <\/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\/02\/saudis-sary-acquires-egyptian-marketplace-mowarrid\/\" 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\/02\/saudis-sary-acquires-egyptian-marketplace-mowarrid\/')\">\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\/02\/saudis-sary-acquires-egyptian-marketplace-mowarrid\/\">\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=Saudi\u2019s Sary acquires Egyptian marketplace Mowarrid&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/02\/saudis-sary-acquires-egyptian-marketplace-mowarrid\/\">\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\/02\/saudis-sary-acquires-egyptian-marketplace-mowarrid\/&title=Saudi\u2019s Sary acquires Egyptian marketplace Mowarrid\">\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=Saudi%E2%80%99s+Sary+acquires+Egyptian+marketplace+Mowarrid+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F02%2Fsaudis-sary-acquires-egyptian-marketplace-mowarrid%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\/02\/saudis-sary-acquires-egyptian-marketplace-mowarrid\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/21.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"544417\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/02\/saudis-sary-acquires-egyptian-marketplace-mowarrid\/21-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/21.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"21.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/21.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/21.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544416\" class=\"content-area-description single-story post-544416 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-b2b tag-enterpriseam tag-ma-watch tag-mowarrid tag-startup-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Saudi B2B wholesale marketplace <\/strong><strong><a href=\"https:\/\/sary.com\/\">Sary<\/a><\/strong><strong> has acquired Egyptian e-commerce <\/strong><strong>platform <\/strong><strong>Mowarrid<\/strong> <strong>for an undisclosed amount, <\/strong>in the first step of Sary\u2019s plan to expand into MENAP markets, the companies announced in a <a href=\"https:\/\/ent.news\/2022\/3\/Sary_Expands_to_Africa_by_Acquiring-Egypts_Mowarrid_English.docx.pdf\">statement (pdf)<\/a> yesterday.<\/p>\n<p><strong>About Mowarrid:<\/strong> Founded in 2018, the company operates in B2B food and grocery, offering more than 1k products to more than 10k retailers, according to the statement.<\/p>\n<p><strong>About Sary:<\/strong> The Saudi platform connects MSME F&B businesses with big wholesale and FMCG retailers. Sary has raised a total of USD 112 mn since it was founded in 2018, over several series rounds led by the kingdom's sovereign wealth fund's fully-owned subsidiary <a href=\"https:\/\/www.sanabil.com\/en\/home\">Sanabil Investments<\/a>, according to <a href=\"https:\/\/www.google.com\/url?q=https:\/\/www.thenationalnews.com\/business\/start-ups\/2021\/12\/19\/saudi-digital-marketplace-sary-raises-75m-in-funding-round-led-by-pif-backed-sanabil\/&sa=D&source=docs&ust=1646180930470729&usg=AOvVaw2AO2NKNg-tBnJQ0OavyHbw\">the National.<\/a><\/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\/b2b\/\">B2B<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mowarrid\/\">Mowarrid<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544418\" 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=\"544418\">\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\">Capital markets<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/02\/efg-hermes-again-tops-egx-brokerage-league-table\/\">\r\n                            EFG Hermes again tops EGX brokerage league table                        <\/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\/02\/efg-hermes-again-tops-egx-brokerage-league-table\/\" 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\/02\/efg-hermes-again-tops-egx-brokerage-league-table\/')\">\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\/02\/efg-hermes-again-tops-egx-brokerage-league-table\/\">\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=EFG Hermes again tops EGX brokerage league table&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/02\/efg-hermes-again-tops-egx-brokerage-league-table\/\">\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\/02\/efg-hermes-again-tops-egx-brokerage-league-table\/&title=EFG Hermes again tops EGX brokerage league table\">\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=EFG+Hermes+again+tops+EGX+brokerage+league+table+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F02%2Fefg-hermes-again-tops-egx-brokerage-league-table%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\/02\/efg-hermes-again-tops-egx-brokerage-league-table\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544418\" class=\"content-area-description single-story post-544418 post type-post status-publish format-standard hentry category-capital-markets tag-arqaam-capital tag-brokerage-league tag-capital-markets tag-ci-capital tag-efg-hermes tag-egx tag-enterpriseam tag-mubasher-capital-holding wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>EFG Hermes topped the EGX\u2019s brokerage league table once again in February<\/strong>, with a market share of 25.1%, according to <a href=\"https:\/\/ent.news\/2022\/3\/DiscDoc_ID36252_28-Feb-2022_ENG.pdf\">figures from the EGX (pdf)<\/a>. Rounding out the top five were CI Capital (9.5%), Arqaam (4.4%), Mubasher (4%), and Naeem (4%).<\/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\/arqaam-capital\/\">Arqaam Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/brokerage-league\/\">brokerage league<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ci-capital\/\">CI Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mubasher-capital-holding\/\">Mubasher Capital Holding<\/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=\"544419\" 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=\"544419\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/02\/544419\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544419\" class=\"content-area-description single-story post-544419 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\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=\"544420\" 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=\"544420\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/02\/last-nights-talk-shows-egyptian-students-flown-home-after-fleeing-ukraine-how-will-russias-war-affect-the-suez-canal\/\">\r\n                            Last Night\u2019s Talk Shows: Egyptian students flown home after fleeing Ukraine + How will Russia\u2019s war affect the Suez Canal?                        <\/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\/02\/last-nights-talk-shows-egyptian-students-flown-home-after-fleeing-ukraine-how-will-russias-war-affect-the-suez-canal\/\" 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\/02\/last-nights-talk-shows-egyptian-students-flown-home-after-fleeing-ukraine-how-will-russias-war-affect-the-suez-canal\/')\">\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\/02\/last-nights-talk-shows-egyptian-students-flown-home-after-fleeing-ukraine-how-will-russias-war-affect-the-suez-canal\/\">\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: Egyptian students flown home after fleeing Ukraine + How will Russia\u2019s war affect the Suez Canal?&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/02\/last-nights-talk-shows-egyptian-students-flown-home-after-fleeing-ukraine-how-will-russias-war-affect-the-suez-canal\/\">\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\/02\/last-nights-talk-shows-egyptian-students-flown-home-after-fleeing-ukraine-how-will-russias-war-affect-the-suez-canal\/&title=Last Night\u2019s Talk Shows: Egyptian students flown home after fleeing Ukraine + How will Russia\u2019s war affect the Suez Canal?\">\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+Egyptian+students+flown+home+after+fleeing+Ukraine+%2B+How+will+Russia%E2%80%99s+war+affect+the+Suez+Canal%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F02%2Flast-nights-talk-shows-egyptian-students-flown-home-after-fleeing-ukraine-how-will-russias-war-affect-the-suez-canal%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\/02\/last-nights-talk-shows-egyptian-students-flown-home-after-fleeing-ukraine-how-will-russias-war-affect-the-suez-canal\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544420\" class=\"content-area-description single-story post-544420 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-enterpriseam tag-last-nights-talk-shows tag-russia-ukraine-war tag-suez-canal tag-suez-canal-authority 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>Students make it home to Egypt from war-torn Ukraine:<\/strong> An Air Cairo flight carrying 175 Egyptian students who managed to flee Ukraine through the border with Romania landed at Cairo Airport last night, Emigration Minister Nabila Makram told Ala Mas\u2019ouleety\u2019s Ahmed Moussa (<a href=\"https:\/\/www.youtube.com\/watch?v=lmplx4zCBsU\">watch, runtime: 11:01<\/a>). The news was also highlighted on Yahduth Fi Masr (<a href=\"https:\/\/www.youtube.com\/watch?v=lmplx4zCBsU\">watch, runtime: 3:07<\/a>) and Hadith Al Kahera (<a href=\"https:\/\/www.youtube.com\/watch?v=qnuCszbOh5c\">watch, runtime 10:50<\/a>). <strong>More than <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/59cf5a97-295b-49c7-90d4-23c7823fa837\">1.2k students<\/a><\/strong><strong> have arrived safely in Poland from Ukraine<\/strong>, Makram said on Monday..<\/p>\n<p><strong>The war's impact on the Suez Canal is not yet clear,<\/strong> Suez Canal Authority (SCA) chairman Osama Rabie told Ala Mas\u2019ouleety (<a href=\"https:\/\/youtu.be\/UZFenFVM5JA\">watch, runtime 6:45<\/a>). The SCA has flexibility to offer financial incentives as the situation develops to attract traffic to the canal if necessary, said Rabie, adding that the US has not made requests to close off the Suez Canal to transiting Russian vessels (<a href=\"https:\/\/www.youtube.com\/watch?v=ouVfgbpzNfE\">watch, runtime 5:19<\/a>). The SCA\u2019s recent directive to raise tolls by up to 10% also got some attention from Al Hayah Al Youm (<a href=\"https:\/\/youtu.be\/sWt2Z-lM428\">watch, runtime 5:46<\/a>) and Masaa DMC (<a href=\"https:\/\/youtu.be\/eugHlIs-RxA\">watch, runtime 9:11<\/a>).<\/p>\n<p><strong>Political moves in Europe right now are \u201cunprecedented\u201d since World War II<\/strong>, political commentator Mostafa El Feky told Yahduth Fi Masr (<a href=\"https:\/\/www.youtube.com\/watch?v=jZcPT_1CaaM\">watch, runtime 1:39<\/a>), as our nation\u2019s talking heads dissected the latest developments of the Russia-Ukraine war. Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=ep98UlprmEg\">watch, runtime 21:32<\/a>), Ala Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=32iHyTTMkrU\">watch, runtime 15:!5<\/a>), Hadith Al Kahera (<a href=\"https:\/\/www.youtube.com\/watch?v=1pj2ik3E9i4\">watch, runtime 16:14<\/a>), and Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=59ZYVm0WZrc\">watch, runtime 6:35<\/a>) all had coverage.<\/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\/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\/russia-ukraine-war\/\">Russia-Ukraine war<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal\/\">Suez Canal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-authority\/\">Suez Canal Authority<\/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=\"544421\" 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 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stk-m7nn5qi-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" 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33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544422\" 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=\"544422\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/02\/egypt-in-the-news-endangered-abydos\/\">\r\n                            Egypt in the News: Endangered Abydos                        <\/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\/02\/egypt-in-the-news-endangered-abydos\/\" 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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<\/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\/02\/egypt-in-the-news-endangered-abydos\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544422\" class=\"content-area-description single-story post-544422 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-abydos tag-ancient-egypt tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>There\u2019s a slow trickle of Egypt-related headlines <\/strong>in the international press this morning, while the front pages remain dedicated to the war in Ukraine.<\/p>\n<p><strong>In culture, <\/strong>New York-based nonprofit the <a href=\"https:\/\/www.wmf.org\/\">World Monuments Fund<\/a> has spotlighted Upper Egypt\u2019s <a href=\"https:\/\/www.wmf.org\/project\/abydos\">Abydos<\/a> in its <a href=\"https:\/\/www.wmf.org\/2022watch\">2022 watchlist<\/a> of the world\u2019s 25 most endangered cultural sites, saying the ancient city is \u201cunder pressure from urban and agricultural encroachment.\u201d <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-01\/the-25-most-endangered-monuments-and-cultural-sites\">Bloomberg<\/a> and <a href=\"https:\/\/edition.cnn.com\/travel\/article\/world-monuments-fund-endangered-monuments-2022\/index.html\">CNN<\/a> took note. Meanwhile, Bedouins clinging to a nomadic way of life on the outskirts of Kafr El Sheikh are the subject of a <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/nomadic-bedouins-set-up-camp-by-housing-blocks-egypts-nile-delta-2022-03-01\/\">Reuters<\/a> feature.<\/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\/abydos\/\">Abydos<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ancient-egypt\/\">Ancient Egypt<\/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=\"544423\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544424\" 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=\"544424\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/02\/suez-canal-revenues-jump-regulating-the-cosmetics-industry\/\">\r\n                            Suez canal revenues jump + regulating the cosmetics industry                        <\/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\/02\/suez-canal-revenues-jump-regulating-the-cosmetics-industry\/\" 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\/02\/suez-canal-revenues-jump-regulating-the-cosmetics-industry\/')\">\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\/02\/suez-canal-revenues-jump-regulating-the-cosmetics-industry\/\">\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=Suez canal revenues jump + regulating the cosmetics industry&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/02\/suez-canal-revenues-jump-regulating-the-cosmetics-industry\/\">\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\/02\/suez-canal-revenues-jump-regulating-the-cosmetics-industry\/&title=Suez canal revenues jump + regulating the cosmetics industry\">\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=Suez+canal+revenues+jump+%2B+regulating+the+cosmetics+industry+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F02%2Fsuez-canal-revenues-jump-regulating-the-cosmetics-industry%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\/02\/suez-canal-revenues-jump-regulating-the-cosmetics-industry\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544424\" class=\"content-area-description single-story post-544424 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-enterpriseam tag-financial-regulatory-authority tag-pfizer tag-regulation-watch tag-speed-medical tag-suez-canal tag-taqa-arabia tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408146\"\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\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/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-06\"><\/a> <strong>Suez Canal revenues jump in February after toll hikes: <\/strong>Revenues were up 15.1% y-o-y to post USD 545.5 mn last month, canal authority head Osama Rabie said in a <a href=\"https:\/\/www.facebook.com\/SuezCanalAuthorityEG\/posts\/262387049402654\">statement<\/a>. The authority hiked transit tolls by <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5ae94891-e027-4d1d-a265-2fc17b43d749\">6% for most ships<\/a> at the start of February, followed by another increase of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c55d01f7-c6bb-4f82-afe0-36a819f6415c\">up to 10%<\/a> for all transiting vessels from yesterday. Canal revenues are expected to hit <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4efd47f2-548c-4454-aaed-14c2016ce56e\">USD 7 bn this year<\/a>, up 11.1% from last year\u2019s record haul.<\/p><p><strong>Regulation for the cosmetics industry: <\/strong>The Egyptian Drug Authority (EDA) has <a href=\"https:\/\/www.facebook.com\/egyptiandrugauthority\/posts\/310677054500664\">launched<\/a> a new online platform, EgyCosm, to regulate the cosmetics industry through a database for registered products.<\/p><p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p><ul>\n<li><strong>The UAE <\/strong><a href=\"https:\/\/wam.ae\/ar\/details\/1395303025196\">has launched<\/a> a distanced-learning school targeting 20k <strong>underprivileged children and refugees in Egypt<\/strong> and four other countries.<\/li>\n<li><strong>Taqa Arabia<\/strong> signed an <strong><a href=\"https:\/\/ent.news\/2022\/3\/PRL.-Eng-Taqa-Tanzania.pdf\">MoU<\/a><\/strong><a href=\"https:\/\/ent.news\/2022\/3\/PRL.-Eng-Taqa-Tanzania.pdf\">(pdf)<\/a> with <strong>Tanzania <\/strong>to cooperate on<strong> natural gas<\/strong> <strong>distribution. <\/strong><\/li>\n<li>The <strong>Cairo Economic Court has <\/strong><strong><a href=\"https:\/\/ent.news\/2022\/3\/Speed-Medical-1-3-22.pdf\">imposed (pdf)<\/a><\/strong> an EGP 40 mn fine on Speed Medical\u2019s former chairman<strong> Mahmoud Lasheen <\/strong>for the two <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/107f1754-dca0-4654-92e9-fd680c3c9d71\">FRA lawsuits<\/a> filed against the company. Last week the company <a href=\"https:\/\/ent.news\/2022\/3\/Speed-Medical-New-CEO.pdf\">appointed (pdf)<\/a> a new board, with Ahmed Farid tapped as non-executive chairman to replace Lasheen.<\/li>\n<li><strong>Pfizer eyes investing in <\/strong><strong><a href=\"https:\/\/english.ahram.org.eg\/NewsContent\/3\/14\/462006\/Business\/Markets--Companies\/Pfizer-cooperating-with-Egypt-to-digitise-healthca.aspx\">digitizing<\/a><\/strong><strong> our healthcare system:<\/strong> Pfizer is in discussions with the government and other healthcare stakeholders to help digitally transform Egypt\u2019s healthcare field.<\/li>\n<li><strong>The Financial Regulatory Authority has <\/strong><strong><a href=\"https:\/\/alborsaanews.com\/2022\/03\/01\/1515217\">approved<\/a><\/strong><strong> raising the maximum <\/strong><strong>policy for <\/strong><strong>microinsurance<\/strong><strong> products to EGP 200k<\/strong> from EGP 100k.<\/li>\n<\/ul>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pfizer\/\">Pfizer<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/regulation-watch\/\">regulation watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/speed-medical\/\">Speed Medical<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal\/\">Suez Canal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/taqa-arabia\/\">TAQA Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"544425\" 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=\"544425\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/02\/daily-cases-hospitalizations-fall-trials-commence-on-our-second-homegrown-jab\/\">\r\n                            Daily cases, hospitalizations fall + Trials commence on our second homegrown jab                        <\/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\/02\/daily-cases-hospitalizations-fall-trials-commence-on-our-second-homegrown-jab\/\" 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\/02\/daily-cases-hospitalizations-fall-trials-commence-on-our-second-homegrown-jab\/')\">\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\/02\/daily-cases-hospitalizations-fall-trials-commence-on-our-second-homegrown-jab\/\">\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=Daily cases, hospitalizations fall + Trials commence on our second homegrown jab&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/02\/daily-cases-hospitalizations-fall-trials-commence-on-our-second-homegrown-jab\/\">\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\/02\/daily-cases-hospitalizations-fall-trials-commence-on-our-second-homegrown-jab\/&title=Daily cases, hospitalizations fall + Trials commence on our second homegrown jab\">\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=Daily+cases%2C+hospitalizations+fall+%2B+Trials+commence+on+our+second+homegrown+jab+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F02%2Fdaily-cases-hospitalizations-fall-trials-commence-on-our-second-homegrown-jab%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\/02\/daily-cases-hospitalizations-fall-trials-commence-on-our-second-homegrown-jab\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544425\" class=\"content-area-description single-story post-544425 post type-post status-publish format-standard hentry category-covid-watch tag-covid-19 tag-enterpriseam tag-eva-pharma tag-vaccines wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>The Health Ministry reported 1,322 new covid-19 infections yesterday<\/strong>, down from 1,523 the day before. Egypt has now disclosed a total of 485,093 confirmed cases of covid-19. The ministry also reported 36 new deaths, bringing the country\u2019s total death toll to 24,110.<\/p>\n<p><strong>Daily cases have now been declining steadily <\/strong><strong>for over three weeks<\/strong><strong>, <\/strong>from a peak of 2.3k on 6 Feb, as the omicron wave subsides.<\/p>\n<p><strong>Another sign we\u2019re well over the worst of omicron: Covid hospitalizations are down by almost half nationwide. <\/strong>Covid-19-related hospital admissions saw a 40% drop across the country in the two weeks up to 25 February, compared to the preceding two weeks, Acting Minister of Health Khaled Abdel-Ghaffar said, according to a <a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/280560500921838\">ministry statement<\/a>.<\/p>\n<p><strong>Egyvax clinical trials kick off: <\/strong>Forty-five volunteers will be given doses of Egypt\u2019s second experimental covid-19 vaccine, Egyvax, in clinical trials that launched yesterday, according to a Higher Education and Scientific Research Ministry <a href=\"https:\/\/www.facebook.com\/MOHESREGYPT\/posts\/503914771091362\">statement<\/a>. If all goes well, production is set to start by the end of this year, with an expected capacity of 500 mn doses annually for both domestic use and export, the statement read. The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2a360c3a-585e-40c7-8d48-43a58e924a93\">new jab<\/a> is set to be manufactured by Eva Pharma, which is currently a local manufacturer of Sinovac vaccines.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eva-pharma\/\">Eva Pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544426\" 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=\"544426\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/02\/russias-war-rocks-the-markets-as-corporates-continue-to-scramble-for-exits\/\">\r\n                            Russia\u2019s war rocks the markets as corporates continue to scramble for exits                        <\/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\/02\/russias-war-rocks-the-markets-as-corporates-continue-to-scramble-for-exits\/\" 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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Depositary receipts for state-run gas giant Gazprom fell 71% by close in London after Shell said it would <a href=\"https:\/\/www.shell.com\/media\/news-and-media-releases\/2022\/shell-intends-to-exit-equity-partnerships-held-with-gazprom-entities.html\">exit<\/a> its joint ventures with the firm, while the nation\u2019s biggest lender, Sberbank, lost 80%. London-listed Russian exchange-traded fund iShares MSCI Russia <a href=\"https:\/\/www.reuters.com\/markets\/europe\/russia-seeks-halt-investor-stampede-sanctions-hammer-economy-2022-03-01\/\">also fell<\/a> 33% to hit a fresh record low.<\/p><p><strong>Russia looks to block the exits: <\/strong>The country will impose a temporary ban on foreigners looking to sell Russian assets to make sure they \u201ctake a considered decision,\u201d Prime Minister Mikhail Mishustin said yesterday during a government meeting, <a href=\"https:\/\/www.reuters.com\/business\/russia-impose-temporary-curbs-foreigners-seeking-exit-assets-2022-03-01\/\">Reuters<\/a> reported.<\/p><p><strong>SWIFT is examining which Russian entities to remove from its system <\/strong>under Western sanctions, according to a <a href=\"https:\/\/www.swift.com\/news-events\/news\/message-swift-community\">press release<\/a>. \u201cWe are engaging with these authorities to understand which entities will be subject to these new measures and will disconnect them once we receive legal instruction to do so,\u201d the Belgian-based payment system said.<\/p><p><strong>And more companies say \u201cDasvidaniya\u201d to their Russia-linked business:<\/strong> KPMG is cutting ties with several Russian individuals targeted by Western sanctions, which includes \u201cending some of our client relationships in the UK and globally,\u201d KMPG UK CEO Jonathan Holt announced on <a href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:6904320592078852096\/\">LinkedIn<\/a>.<\/p><p><strong>Automobile manufacturers are also jumping on the bandwagon<\/strong>, with Daimler Truck Holding AG <a href=\"https:\/\/twitter.com\/DaimlerTruck\/status\/1498230835299983362?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet\">announcing<\/a>it will suspend business in Russia until further notice. <a href=\"https:\/\/www.autocar.co.uk\/car-news\/business-dealership%2C-sales-and-marketing\/volvo-suspends-sales-russia-citing-trading\">Volvo<\/a> is suspending the sale of its cars in Russia, while Harley-Davidson Inc and General Motors are also <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-01\/gm-harley-davidson-halt-shipments-to-russia-as-sanctions-pinch\">suspending shipments<\/a> to the country.<\/p><p><strong>Total Energies only committed to halting capex spending on new projects in Russia<\/strong>, according to <a href=\"https:\/\/totalenergies.com\/media\/news\/press-releases\/totalenergies-statement-concerning-war-ukraine\">a statement<\/a>, stopping short of a wider withdrawal of the likes of Shell, BP, and Equinor.<\/p><p><strong><a href=\"https:\/\/usa.visa.com\/visa-everywhere\/blog\/bdp\/2022\/02\/28\/a-message-from-1646083498219.html\">Visa<\/a><\/strong><strong> and <\/strong><strong><a href=\"https:\/\/www.mastercard.com\/news\/press\/2022\/february\/mastercard-statement\/\">Mastercard<\/a><\/strong> <strong>have blocked several Russian financial institutions from their <\/strong><strong>payments network<\/strong> in compliance with the imposed sanctions, they said in separate statements. Both payment card firms will also donate USD 2 mn each in humanitarian aid to Ukraine, they said.<\/p><p><strong>AND FROM THE WORLD OUTSIDE THE WAR-<\/strong><\/p><p><strong>Saudi Arabia\u2019s largest retail pharmacy chain, Al Nahdi Medical, looks poised for <\/strong><strong>the biggest Saudi IPO since Aramco\u2019s USD 30 bn listing in 2019<\/strong>, with demand running high for its shares hours after it opened the books to investors, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-01\/biggest-saudi-ipo-since-aramco-has-demand-for-all-stock-on-offer?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> reports. The company is looking to raise as much as USD 1.36 bn in the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/816d5a48-7bcb-43e0-987e-cdfc78e5575e\">IPO<\/a>.<\/p><p><strong>Brookfield goes ahead with acquisition of FAB\u2019s payment arm: <\/strong>Canadian asset management firm Brookfield has greenlit the purchase of a 60% stake in <a href=\"https:\/\/www.magnati.com\/\">Magnati<\/a>, First Abu Dhabi Bank\u2019s (FAB) payment arm, in a transaction that values the firm at up to USD 1.15 bn, <a href=\"https:\/\/www.reuters.com\/business\/brookfield-agrees-buy-60-uae-fabs-payments-unit-2022-02-28\/\">Reuters<\/a> reports. The bank will retain the remaining 40% stake in Magnati, using the proceeds from the sale to support its \u201cgrowth and transformation plans,\u201d which include <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8d68b5eb-a11f-4c88-b404-0e64bb3de85d\">regional expansion<\/a>. This comes a few weeks after FAB <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8d68b5eb-a11f-4c88-b404-0e64bb3de85d\">made an offer<\/a> to buy a majority stake in Egypt\u2019s financial services giant EFG Hermes.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>11,276<\/p>\n<\/td>\n<td>\n<p>+1.2% (YTD: -5.6%)<\/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>12,674<\/p>\n<\/td>\n<td>\n<p>+0.7% (YTD: +12.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>9,521<\/p>\n<\/td>\n<td>\n<p>+2.2% (YTD: +12.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,398<\/p>\n<\/td>\n<td>\n<p>+1.3% (YTD: +6.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,306<\/p>\n<\/td>\n<td>\n<p>-1.6% (YTD: -9.7%)<\/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>7,330<\/p>\n<\/td>\n<td>\n<p>-1.7% (YTD: -0.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 104.97<\/p>\n<\/td>\n<td>\n<p>+7.1%<\/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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 4.64<\/p>\n<\/td>\n<td>\n<p>+1.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,944<\/p>\n<\/td>\n<td>\n<p>+0.0%<\/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>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 44,151<\/p>\n<\/td>\n<td>\n<p>+1.4% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 rose 1.2% at yesterday\u2019s close<\/strong> on turnover of EGP 1 bn (0.3% below the 90-day average). Foreign investors were net sellers. The index is down 5.6% YTD.<\/p><p><strong>In the green: <\/strong>Eastern Company (+7.8%), Heliopolis Housing (+5.9%) and Rameda (+5.6%).<\/p><p><strong>In the red: <\/strong>CIRA (-0.7%), Abu Qir Fertilizers (-0.5%) and CIB (-0.2%).<\/p><p><strong>Asian markets are mixed in early trading <\/strong><strong>this morning,<\/strong> while futures suggest that major US and European benchmarks will open in the green (implying that the dip-buyers are out in force after global markets tumbled yesterday.)<\/p>\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\/mena-ipos\/\">MENA IPOs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ukraine-russia-war\/\">Ukraine-Russia war<\/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=\"544427\" 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=\"544427\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/02\/shoukry-talks-nuclear-disarmament-as-ukraine-demands-un-address-russian-war-crimes\/\">\r\n                            Shoukry talks nuclear disarmament as Ukraine demands UN address Russian \u201cwar crimes\u201d                        <\/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\/02\/shoukry-talks-nuclear-disarmament-as-ukraine-demands-un-address-russian-war-crimes\/\" 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\/02\/shoukry-talks-nuclear-disarmament-as-ukraine-demands-un-address-russian-war-crimes\/')\">\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\/02\/shoukry-talks-nuclear-disarmament-as-ukraine-demands-un-address-russian-war-crimes\/\">\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=Shoukry talks nuclear disarmament as Ukraine demands UN address Russian \u201cwar crimes\u201d&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/02\/shoukry-talks-nuclear-disarmament-as-ukraine-demands-un-address-russian-war-crimes\/\">\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\/02\/shoukry-talks-nuclear-disarmament-as-ukraine-demands-un-address-russian-war-crimes\/&title=Shoukry talks nuclear disarmament as Ukraine demands UN address Russian \u201cwar crimes\u201d\">\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=Shoukry+talks+nuclear+disarmament+as+Ukraine+demands+UN+address+Russian+%E2%80%9Cwar+crimes%E2%80%9D+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F02%2Fshoukry-talks-nuclear-disarmament-as-ukraine-demands-un-address-russian-war-crimes%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\/02\/shoukry-talks-nuclear-disarmament-as-ukraine-demands-un-address-russian-war-crimes\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544427\" class=\"content-area-description single-story post-544427 post type-post status-publish format-standard hentry category-diplomacy tag-diplomacy tag-enterpriseam tag-nuclear-disarmament tag-sameh-shoukry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Foreign Minister Sameh Shoukry reaffirmed Egypt\u2019s commitment to nuclear <\/strong><strong>disarmament<\/strong> in a recorded speech during a UN <a href=\"https:\/\/www.un.org\/disarmament\/conference-on-disarmament\/\">multilateral disarmament conference<\/a> in Geneva, the cabinet said in a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0LaFbRRB9Z9rgovHPNpxZGNtmevf6hGfMDbD48WYuxDstuDG5wXwLob4dfiKiaav7l\">statement<\/a> yesterday. During the conference, Ukraine's foreign minister called for a special meeting on Russian \u201cwar crimes\u201d and weapons of mass destruction, <a href=\"https:\/\/www.reuters.com\/world\/ukraine-seeks-disarmament-meeting-russias-invasion-weapons-mass-destruction-2022-03-01\/\">Reuters<\/a> reports.<\/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\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nuclear-disarmament\/\">nuclear disarmament<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sameh-shoukry\/\">Sameh Shoukry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544428\" 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=\"544428\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/02\/libya-faces-prospect-of-split-governance\/\">\r\n                            Libya faces prospect of split governance                        <\/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\/02\/libya-faces-prospect-of-split-governance\/\" 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\/02\/libya-faces-prospect-of-split-governance\/')\">\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\/02\/libya-faces-prospect-of-split-governance\/\">\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=Libya faces prospect of split governance&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/02\/libya-faces-prospect-of-split-governance\/\">\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\/02\/libya-faces-prospect-of-split-governance\/&title=Libya faces prospect of split governance\">\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=Libya+faces+prospect+of+split+governance+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F02%2Flibya-faces-prospect-of-split-governance%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\/02\/libya-faces-prospect-of-split-governance\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544428\" class=\"content-area-description single-story post-544428 post type-post status-publish format-standard hentry category-around-the-world tag-around-the-world tag-enterpriseam tag-libya wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Will Libya have two governments again? <\/strong>Libyan lawmakers <a href=\"https:\/\/bit.ly\/36IXvOy\">approved<\/a> a new government led by Prime Minister Fathi Bashagha yesterday, but the incumbent administration, led by embattled Prime Minister Abdul Hamid Dbeibah, remained defiant and refused to cede power, <a href=\"https:\/\/www.reuters.com\/world\/africa\/libya-parliament-backs-new-government-crisis-escalates-2022-03-01\/\">Reuters<\/a> reported. This marks the latest blow to a fragile peace process amid international efforts to end a decade of political chaos for our Mediterranean neighbor.<\/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\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"544429\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhat\/\">\r\n                            Read Hardhat                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">13<\/div>\r\n    \r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/govt-imf-develop-database-to-track-risk-fiscal-implications-of-ppp-projects\/\"> \r\n                            Gov\u2019t + IMF develop database to track risk, fiscal implications of PPP projects<\/a>\r\n                        <\/h3>\r\n    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/govt-imf-develop-database-to-track-risk-fiscal-implications-of-ppp-projects\/\" 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\/hardhats\/govt-imf-develop-database-to-track-risk-fiscal-implications-of-ppp-projects\/')\">\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\/hardhats\/govt-imf-develop-database-to-track-risk-fiscal-implications-of-ppp-projects\/\">\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=Gov\u2019t + IMF develop database to track risk, fiscal implications of PPP projects&url=https:\/\/enterpriseam.com\/egypt\/hardhats\/govt-imf-develop-database-to-track-risk-fiscal-implications-of-ppp-projects\/\">\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\/hardhats\/govt-imf-develop-database-to-track-risk-fiscal-implications-of-ppp-projects\/&title=Gov\u2019t + IMF develop database to track risk, fiscal implications of PPP projects\">\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=Gov%E2%80%99t+%2B+IMF+develop+database+to+track+risk%2C+fiscal+implications+of+PPP+projects+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Fhardhats%2Fgovt-imf-develop-database-to-track-risk-fiscal-implications-of-ppp-projects%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>                    <\/div>\r\n    \r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/govt-imf-develop-database-to-track-risk-fiscal-implications-of-ppp-projects\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/26.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"544430\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/govt-imf-develop-database-to-track-risk-fiscal-implications-of-ppp-projects\/26-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/26.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"26.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/26.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/26.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-544429\" class=\"content-area-description post-544429 hardhat type-hardhat status-publish has-post-thumbnail hentry tag-enterprise-hardhat tag-enterpriseam tag-imf tag-public-private-partnership wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>The government now has a template for a database of Egypt\u2019s public-private<\/strong> <strong>partnership (PPP) projects<\/strong>, according to a <a href=\"https:\/\/ent.news\/2022\/2\/1EGYEA2022001.pdf\">technical assistance report (pdf)<\/a> from the International Monetary Fund, following visits from the global lender\u2019s Middle East Regional Technical Assistance Center (METAC). The IMF reviewed and discussed the database\u2019s design with the Finance Ministry\u2019s PPP unit.<\/p>\n<p><strong>What\u2019s in the database?<\/strong> The database will include detailed data points on each of Egypt\u2019s PPP contracts, including project status, sector, dates of signature, value, and financing, alongside a consolidation table for reporting. This table, which \u201cwill include firm and contingent liabilities incurred by the government for PPP projects,\u201d is designed to increase transparency when reporting on PPP projects, the report says.<\/p>\n<p><strong>Why do we care? <\/strong>Mobilizing private sector investment through PPPs could go a long way to helping Egypt close its infrastructure funding gap, which the World Bank has previously <a href=\"https:\/\/enterprise.press\/stories\/2018\/12\/12\/egypt-faces-usd-230-bn-investment-gap-in-infrastructure-and-most-of-it-is-in-transportation\/\">estimated<\/a>sits at around USD 230 bn. The vast majority of the gap is mainly in the transport sector, which the country now is focusing on under its efforts for a full overhaul. PPPs would ensure better quality standards and simplified and flexible tender processes through which government contracts with private businesses, unlike red-taped state-owned companies which are known to crowd out the private sector due to its legislative and institutional barriers.The model would also help address the perception that the state\u2019s growing involvement in the economy, especially through its mega-projects, is forcing out the private sector.<\/p>\n<p><strong>Egypt is no stranger to public-private partnerships:<\/strong> The PPP model has proven successful and popular in some industries, including <a href=\"https:\/\/enterprise.press\/blackboards\/private-sector-education-liked-large-scale-public-private-investment-platforms\/\">education<\/a>, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/65e8b72c-aa5c-4929-89aa-baa9e4a8319f\">infrastructure<\/a>, and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b0f456fb-f4a1-4130-b2c5-0e802909bbfa\">healthcare<\/a>. Several big projects are already underway under this partnership model, including housing projects by the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cd0307b2-f298-4860-aa32-8c395f14f575\">Mortgage Finance Fund<\/a>, the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/40d18b27-5b81-4c55-a728-4768f13b5ee9\">Cairo monorail<\/a>, as well as the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/65e8b72c-aa5c-4929-89aa-baa9e4a8319f\">Sixth of October and Tenth of Ramadan dry ports<\/a>.<\/p>\n<p><strong>2021 saw <\/strong><strong><a href=\"https:\/\/enterprise.press\/blackboards\/private-sector-education-liked-large-scale-public-private-investment-platforms\/\">more love<\/a><\/strong><strong> by private sector education to large-scale private investment platforms<\/strong>, due to them being fundamentally stable investments allowing for long-term investments and delivery of high-impact, cost-effective, affordable, quality education, private sector partners in these joint ventures previously told us.<\/p>\n<p><strong>The healthcare sector is also <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b0f456fb-f4a1-4130-b2c5-0e802909bbfa\">whetting investors' appetite<\/a><\/strong>, provided that PPPs could give the private sector access to outlying assets in exchange for a revenue-sharing agreement with the government. But despite investors\u2019 interest, a demand-supply gap could be a challenge due to fragmentation and uneven distribution of facilities \u2014 especially by geographic location in the country.<\/p>\n<p><strong>A partnership between the MFF with the private sector is one of the examples <\/strong>putting the PPP amendments to the test. Both are planning to launch several housing projects early this year, the fund\u2019s head May Abdel Hamid <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cd0307b2-f298-4860-aa32-8c395f14f575\">said<\/a> in an interview in November.<\/p>\n<p><strong>More transparency = better PPP bids:<\/strong> By using the database to report the details of Egypt\u2019s PPP projects, the Finance Ministry will be able to map out the fiscal implications of these projects and how they are managed. This documentation \u201cwill help to attract more high quality-bidders and potentially lower the risk premium and cost of financing for the government,\u201d the report says.<\/p>\n<p><strong>The IMF also lent a helping hand on the PPP Act: <\/strong>The METAC mission discussed with FinMin \u201ckey revisions to the PPP law as well as gaps with good practices and clarifications to be drafted in the regulations.\u201d The law, which <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5834140b-d304-4c1c-9483-4b92c5ad8478\">passed the House of Representatives<\/a> in November, will explicitly allow public entities to partner with private companies on transport, energy, communications, and healthcare projects, and introduce new mechanisms to simplify the process.<\/p>\n<p><strong>What they said:<\/strong> The IMF said the bill brings \u201cimportant revisions to the PPP process,\u201d including changes to limit the term of PPP projects to a maximum of 30 years and the introduction of limited bidding, and unsolicited proposals among others amendments.<\/p>\n<p><strong>Where does the law stand?<\/strong> The bill was <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=22122021&id=256f641a-e55d-4bce-9977-a03e1c1325ef\">ratified<\/a> by President Abdel Fattah El Sisi in December, and its executive regulations are set to be published in the coming months.<\/p>\n<p><strong>Our homework:<\/strong> The IMF recommends the finance and planning ministries now review the public investment management (PIM) process to align on project assessment, prioritization, and selection. The IMF also suggests expanding the role of the PPP Supreme Committee to review and approve all PPP projects, as well as assessing the efficiency of the procurement method for potential PPP projects. METAC also presented the Finance Ministry\u2019s PPP unit with fiscal risks that Egypt may face from PPP projects, along with proposed actions to promote transparency.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top infrastructure stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Microsoft <\/strong><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/346356757534751\">has signed<\/a> an <strong>MoU <\/strong>with the <strong>ICT Ministry <\/strong>to help <strong>digitally upskill <\/strong>communities targeted by the country's <strong><a href=\"https:\/\/enterprise.press\/hardhats\/past-present-future-decent-life-initiative\/\">Decent Life Initiative<\/a><\/strong>.<\/li>\n<li><strong>Telecom Egypt <\/strong>and internet provider <strong><a href=\"https:\/\/afr-ix.com\/\">AFR-IX Telecom<\/a><\/strong> have <strong><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/349280997242327\">inked an<\/a><\/strong><strong><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/349280997242327\">agreement<\/a><\/strong> allowing the <strong>cross-Mediterranean Medusa subsea cable <\/strong>to land in Egypt.<\/li>\n<li><strong>Eleven companies<\/strong> are <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2b75b641-bb5e-436c-940d-99f0175103c7\">reportedly planning to bid<\/a> on <strong>desalination projects<\/strong> worth a combined <strong>USD 2.8 bn<\/strong>.<\/li>\n<\/ul>\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\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/public-private-partnership\/\">public-private partnership<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"544431\" 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=\"544431\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">15<\/div>\r\n\r\n                    <p class=\"f-graphik\">? CALENDAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/02\/544431\/\">\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\/02\/544431\/\" 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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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>28 March (Monday): The court hearing for a case brought by Arabia Investments Holding (AIH) against Peugeot <a href=\"https:\/\/ent.news\/2022\/3\/AIH-lawsuit-Peugeot.pdf\">has been postponed<\/a> until 28 March.<\/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\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":544406,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-544405","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"4e5a3953-4434-4388-b554-d8f163a4e9fb","teaser":"","photo_url":"https:\/\/ent.news\/2022\/3\/13.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Gov\u2019t ups domestic wheat purchase targets as war in Ukraine challenges global market - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/govt-ups-domestic-wheat-purchase-targets-as-war-in-ukraine-challenges-global-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t ups domestic wheat purchase targets as war in Ukraine challenges global market\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/govt-ups-domestic-wheat-purchase-targets-as-war-in-ukraine-challenges-global-market\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T20:39:37+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\/13.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\/govt-ups-domestic-wheat-purchase-targets-as-war-in-ukraine-challenges-global-market\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/govt-ups-domestic-wheat-purchase-targets-as-war-in-ukraine-challenges-global-market\/\",\"name\":\"Gov\u2019t ups domestic wheat purchase targets as war in Ukraine challenges global market - 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