{"id":544433,"date":"2022-03-03T04:08:30","date_gmt":"2022-03-03T04:08:30","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=544433"},"modified":"2025-12-15T20:40:16","modified_gmt":"2025-12-15T20:40:16","slug":"egypt-stands-with-ukraine-in-voting-for-a-un-resolution-condemning-russias-war","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-stands-with-ukraine-in-voting-for-a-un-resolution-condemning-russias-war\/","title":{"rendered":"Egypt stands with Ukraine in voting for a UN resolution condemning Russia\u2019s war"},"content":{"rendered":"<section id=\"544435\" 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=\"544435\">\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\/03\/this-morningun-general-assembly-says-no-to-russias-war-its-pmi-day\/\">\r\n                            THIS MORNING:UN General Assembly says no to Russia\u2019s war + It\u2019s PMI day                        <\/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\/03\/this-morningun-general-assembly-says-no-to-russias-war-its-pmi-day\/\" 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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We hope your calendar of meetings is kind to you today and that traffic is bearable for folks who have external meetings.<\/p><p><strong>THE BIG STORY here at home on this fine Thursday morning intersects with the BIG <\/strong><strong>STORY ABROAD: Egypt sided with Ukraine <\/strong>at a rare emergency session of the UN General Assembly, where diplomats voted 141-5 to call on Russia to end fighting in Ukraine. Some 35 countries abstained, but Egypt and the GCC joined the vast majority of the international community in censuring Moscow despite traditionally good relations with Russia.<\/p><p><strong>Two stories we love this morning: Gulf Capital said yesterday it will invest more in Egypt <\/strong><strong>and open an office in Cairo<\/strong> from which to explore Africa. With a deep talent pool, unbeatable cost structure relative to the Gulf, and traffic perhaps set to get better as major infrastructure work wraps up (please, God), more countries need to look at Omm El Donia as a regional hub.<\/p><p><strong>Meanwhile, Homzmart pulled a baller move<\/strong> and acquired a German studio \u2014 not in a bid for market share, but to add new functionality to its platform. It\u2019s a foray reminiscent of Apple\u2019s approach to M&amp;A.<\/p><p>^^ We have more on all three stories in the news well, below.<\/p><p><strong>PSA- The mercury plunged overnight<\/strong>, so you can look forward to a high today of 19\u00b0C and then 20\u00b0C tomorrow, according to our favourite weather app.<\/p><p><strong>MUST-WATCH VIDEO OF THE MORNING- A couple of you were outraged yesterday that <\/strong><strong>we suggested (by <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7e9f4df4-51e0-46ba-bb1d-cb7930da4958\">quoting<\/a><\/strong><strong> Kareem Faheem) shatafa was a mark of an advanced civilization. <\/strong>We\u2019re doubling down on that claim this morning and <a href=\"https:\/\/vimeo.com\/316534818\">STRONGLY suggest that watching this quick, hilarious advertisement for the brilliant technology<\/a> is the ultimate way to start your morning. Big love to director Mohamed El Zayat.<\/p><p>(<strong>Editor\u2019s Note: <\/strong>The video is totally suitable for work and for little ears, but if you don\u2019t like our potty humour, don\u2019t tap \/ click.)<\/p><p><strong>And to our underlying point <\/strong>in quoting Faheem yesterday: What\u2019s happening in Ukraine is tragic. But there is unquestionably <s>a double standard<\/s> racism in the dichotomy between how Europe is <a href=\"https:\/\/www.reuters.com\/world\/arab-refugees-see-double-standards-europes-embrace-ukrainians-2022-03-02\/\">embracing Ukrainians fleeing war and how it reacted when Arabs did the same<\/a>.<\/p><hr class=\"grey-line\"><p><strong>HAPPENING TODAY-<\/strong> <strong>It\u2019s PMI day:<\/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> today at 6:15am CLT \u2014 you can <a href=\"https:\/\/www.markiteconomics.com\/Public\/Release\/PressReleases?language=en\">find them all here<\/a> when they\u2019re out. 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>SMART POLICY-<\/strong> <strong>The interior and planning ministries have launched tech-equipped <\/strong><strong>mobile traffic vans to issue licenses and inspect vehicles <\/strong><a href=\"https:\/\/www.youtube.com\/watch?v=V03PYht8HG4&amp;t=232s\">(watch, runtime: 4:57)<\/a>. Renewing your license costs EGP 400 at the units. Dial 15558 hotline to book an appointment to have them come to you. (Disclosure: We haven\u2019t tried it yet). The service is rolling out in Cairo, Giza, Alexandria, Aswan and Matrouh in phase one.<\/p><p><strong>ITIDA and the <\/strong><strong><a href=\"https:\/\/www.secc.org.eg\/\">Software Engineering Competence Center<\/a><\/strong><strong> are hosting a webinar on <\/strong><strong>intellectual property management for entrepreneurs at 11am this morning. <\/strong>The event will look at the importance of patent mining for startups and talk attendees through how to file a patent. You can register to attend <a href=\"https:\/\/register.gotowebinar.com\/register\/2933916358203872269\">here<\/a>.<\/p><p><strong>SOME GOOD NEWS IN DARK DAYS- \u201cHistoric\u201d plastic pollution treaty gets UN <\/strong><strong>green light: <\/strong>Nearly 200 international leaders have agreed to create a legally binding treaty to end plastic pollution, in a UN resolution adopted yesterday, <a href=\"https:\/\/www.reuters.com\/business\/environment\/biggest-green-deal-since-paris-un-agrees-plastic-treaty-roadmap-2022-03-02\/\">Reuters<\/a> reports. The framework \u2014 due to be finalized by 2024 \u2014 is scant on details but could place restrictions on plastics production.<\/p><p><strong>ATTENTION iSHEEP- A new, cheaper iPhone could be dropping next week: <\/strong>Apple announced an 8 March launch event promising only \u201c<a href=\"https:\/\/twitter.com\/gregjoz\/status\/1499067834411872258\">Peek<\/a><a href=\"https:\/\/twitter.com\/gregjoz\/status\/1499067834411872258\">Performance<\/a>,\u201d but iSheep across the board are <a href=\"https:\/\/www.macrumors.com\/2022\/03\/02\/apple-event-announced-for-march-8-peek-performance\/\">expecting<\/a> new products including the new \u201cmore affordable\u201d iPhone SE, a mid-range iPad Air, and possibly new Macs. You can catch the event at <a href=\"https:\/\/www.apple.com\/apple-events\/\">here at 8pm CLT<\/a>.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p><strong>MARKET WATCH-<\/strong><\/p><p><strong>US markets rebound as Fed head Powell says rate hikes will proceed with caution: <\/strong>Wall Street stocks gained on Wednesday, after US Federal Reserve chief Jay Powell signaled that he is not in favor of a drastic half-point rate hike when the central bank <a href=\"https:\/\/www.federalreserve.gov\/monetarypolicy\/fomccalendars.htm\">meets later this month<\/a>. Powell said a \u201cseries\u201d of more typical quarter-point hikes would likely be in order to get a handle on US prices, which are running at their highest in four decades, the <a href=\"https:\/\/www.ft.com\/content\/b947c196-7b5c-44b0-8769-ef6f66580356\">Financial Times<\/a> reports. \u201cThe bottom line is that we will proceed, but we will proceed carefully as we learn more about the implications of the Ukraine war for the economy,\u201d Powell told Congress. <strong>US markets rose on Powell\u2019s remarks<\/strong>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-02\/gold-holds-gain-as-concerns-over-russia-ukraine-war-lifts-demand?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> reports.<\/p><p><strong>MEANWHILE, IN EUROPE- Eurozone inflation hit a record high in February, <\/strong>rising to 5.8% y-o-y, up from 5.1% in January and 0.4 percentage points higher than analysts had expected, according to the <a href=\"https:\/\/www.ecb.europa.eu\/press\/key\/date\/2022\/html\/ecb.sp220302~8031458eab.en.html\">European Central Bank (ECB)<\/a>. The forecast adds to worries that war in Ukraine will pressure prices in the bloc still further \u2014 and may further entrench a split between hawkish and dovish ECB members on how best to proceed, the <a href=\"https:\/\/www.ft.com\/content\/b7055867-80b2-4187-b4a4-1bf600dcc32b\">Financial Times<\/a> reports. Some members are calling for the bank to hold its nerve and start tightening policy this year to bring inflation down, while others want to wait and see how badly the war impacts growth before making a move that could cause unintended damage.<\/p><p><strong>OPEC+ is trying to look the other way as a war started by one of its leading <\/strong><strong>members rages on, <\/strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-02\/opec-faces-reckoning-on-russia-despite-efforts-to-ignore-crisis?sref=mmeFTDW1\">Bloomberg<\/a> reports. Officials from the oil producing nations agreed yesterday to stick to their plans for a modest production increase of 400k barrels per day in April, ignoring the Ukraine crisis and wrapping up their meeting in just 13 minutes. Also not addressed: the soaring price of oil, which passed USD 112 per barrel yesterday as Russia\u2019s invasion of Ukraine rattles the markets.<\/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 today or next week.<\/li>\n<li><strong>Inflation:<\/strong> Inflation figures for February will be released a week from today, 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 tomorrow until next Saturday, 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=\"http:\/\/kimfoxeportfolio.tilda.ws\/podfestcairo2022?fbclid=IwAR3V3Gm9Rlu75CxdWpY6j-SmfxI2lI-iBeyLv54ZsLQKz2t5PKtXm6kFWqA\">PodFest Cairo<\/a><\/strong><strong> kicks off on Saturday at AUC\u2019s Tahrir campus.<\/strong> The half-day podcasting conference runs from 2pm to 6pm. Admission is without charge and there\u2019s no need to register.<\/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>\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\/car-licenses\/\">car licenses<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/opec\/\">OPEC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/plastic-pollution\/\">plastic pollution<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pmi\/\">PMI<\/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\/un\/\">UN<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us-federal-reserve\/\">US Federal Reserve<\/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=\"544436\" 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=\"544436\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/544436\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544436\" class=\"content-area-description single-story post-544436 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=\"544437\" 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=\"544437\">\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\/03\/egypt-among-141-nations-who-called-for-russian-withdrawal-from-ukraine-at-un-general-assembly\/\">\r\n                            Egypt among 141 nations who called for Russian withdrawal from Ukraine at UN General Assembly                        <\/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\/03\/egypt-among-141-nations-who-called-for-russian-withdrawal-from-ukraine-at-un-general-assembly\/\" 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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There are 193 members of the general assembly.<\/p>\n<p><strong>Like Egypt, the Gulf Cooperation Council countries backed Ukraine: <\/strong>The UAE (which abstained on a recent Security Council vote), Saudi Arabia, Kuwait, Bahrain, Oman and Qatar all voted in favor of the resolution.<\/p>\n<p><strong>This was an acid test of our relations with the G7<\/strong>, whose ambassadors to Cairo issued a <a href=\"https:\/\/ent.news\/2022\/3\/G7-op-ed-Cairo.pdf\">statement (pdf)<\/a> earlier this week calling on Egypt to stand with Ukraine at the general assembly this week.<\/p>\n<p><strong>Who voted against? <\/strong>Russia, Belarus, Syria, Eritrea and North Korea.<\/p>\n<p><strong>Who abstained? <\/strong>Some of Russia\u2019s closest diplomatic friends, including India, Cuba, Brazil, Serbia, Iran and Nicaragua. So did South Africa and Iraq.<\/p>\n<p><strong>But we\u2019re not completely on board with sanctions: <\/strong>Egypt said it rejects economic sanctions \u201cthat are not based on the mechanisms of the multilateral international system\u201d in a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0mazyU8MVhS3rAScRm18zqDGdpG4ZgXg7zzUhLKR9Uavm5uZZdF52HgbaZ5QC5hBpl\">statement<\/a> following its vote, warning that similar restrictions in the past resulted in \u201csevere negative humanitarian effects.\u201d Our officials warned against the economic and social effects of the current crisis \u201con the entire global economy, which is still suffering from the pandemic\u2019s repercussions.\u201d<\/p>\n<p><strong>(Yet another reminder that) Egypt is uniquely caught between the two sides here: <\/strong>Ukraine and Russia together account for up to 80% of our wheat supply and are about one third of our inbound tourism market. The two countries were once so close that when Moscow had cut off direct flights to our Red Sea destinations, Russians still streamed into Egypt via package tours that saw them transit through Ukraine. The return of Russian tourists after Moscow allowed direct flights to resume was key to the resurgence of our tourism industry last year.<\/p>\n<p><strong>ON THE GROUND-<\/strong><\/p>\n<p><strong>Ukraine\u2019s Kherson has become the first major city to fall into Moscow\u2019s hands<\/strong>, the <a href=\"https:\/\/www.nytimes.com\/2022\/03\/02\/world\/europe\/kherson-ukraine-russia.html\">New<\/a><a href=\"https:\/\/www.nytimes.com\/2022\/03\/02\/world\/europe\/kherson-ukraine-russia.html\">York Times<\/a> reported late last night. Russian troops have forced their way into the council building, <a href=\"https:\/\/www.reuters.com\/markets\/stocks\/russia-facing-new-sanctions-after-putin-recognises-breakaway-regions-2022-02-22\/\">Reuters<\/a> quoted the Black Sea port city\u2019s mayor as saying, after <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4eabc858-537a-4f84-92a2-7d2b3da9a345\">a day<\/a> of conflicting reports. The country\u2019s second biggest city, Kharkiv, suffered further heavy bombardment yesterday<strong>,<\/strong> including more airstrikes on residential areas.<\/p>\n<p><strong>Russia\u2019s bid to take Kyiv has stalled so far amid strong resistance<\/strong>, but the capital was hit by several strikes yesterday, the <a href=\"https:\/\/www.wsj.com\/articles\/russia-resumes-kharkiv-bombardment-in-bid-to-break-ukrainian-resistance-11646208607\">Wall Street Journal<\/a> reported.<\/p>\n<p><strong>THE HUMAN TOLL-<\/strong><\/p>\n<p><strong>Russia\u2019s Defense Ministry acknowledged losses for the first time, <\/strong>reports the <a href=\"https:\/\/www.wsj.com\/articles\/russia-resumes-kharkiv-bombardment-in-bid-to-break-ukrainian-resistance-11646208607\">Wall Street Journal<\/a>, saying that 498 Russian soldiers were killed and nearly 1.6k injured, and that Putin\u2019s troops killed nearly 2.9k Ukrainian soldiers. Ukraine hasn\u2019t released an official tally of its military casualties, but officials have put the civilian death toll at around 2k. The besieged country says its troops have killed around 5.8k Russian soldiers.<\/p>\n<p><strong>Over <\/strong><strong>870k people have now fled<\/strong><strong> Ukraine<\/strong>, <a href=\"https:\/\/www.reuters.com\/world\/europe\/top-wrap-10-ukrainians-say-they-are-fighting-biggest-city-yet-claimed-by-russia-2022-03-02\/\">Reuters<\/a> reports.<\/p>\n<p><strong>The International Criminal Court (ICC) will open an investigation into possible war crimes committed in Ukraine<\/strong>, said ICC prosecutor <a href=\"https:\/\/www.reuters.com\/world\/europe\/war-crimes-court-prosecutor-opens-ukraine-investigation-statement-2022-03-02\/\">Karim Khan<\/a>, after an \u201cunprecedented\u201d 39 member states sent in requests to fast track investigations.<\/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\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544439\" 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=\"544439\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/uae-based-gulf-capital-to-invest-usd-250-mn-in-egypt-will-use-cairo-as-hub-for-egypt-and-africa\/\">\r\n                            UAE-based Gulf Capital to invest USD 250 mn in Egypt, will use Cairo as hub for Egypt and Africa                        <\/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\/03\/uae-based-gulf-capital-to-invest-usd-250-mn-in-egypt-will-use-cairo-as-hub-for-egypt-and-africa\/\" 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 fund manager will target companies in the tech, fintech, e-commerce and healthcare sectors.<\/p>\n<p><strong>From Cairo to Kenya:<\/strong> Gulf Capital plans to use its newly opened Cairo office as a launchpad for geographical expansion across African markets, particularly Kenya and Tanzania, El Solh added.<\/p>\n<p><strong>Gulf Capital has tapped two senior Egyptian investment professionals to run the office. Miray Zaki<\/strong> (<a href=\"https:\/\/www.linkedin.com\/in\/mirayzaki\/?originalSubdomain=ae\">Linkedin<\/a>) was previously chief investment officer of the Sheikh Zayed Al Nahyan Foundation and was earlier with the Abu Dhabi Investment Authority, while <strong>Fady George<\/strong> (<a href=\"https:\/\/www.linkedin.com\/in\/fadygeorge\/\">Linkedin<\/a>) joins from SPE Capital Partners. Zaki is MD and head of Egypt for the firm, while George joins as a VP.<\/p>\n<p><strong>The firm has invested north of EGP 5 bn here <\/strong>in sectors including technology, infrastructure, manufacturing, petrochemicals, healthcare, healthtech, business services, and oil and gas services, it said in a <a href=\"https:\/\/www.gulfcapital.com\/en-US\/1\/52\/Press-Release-Detail\/34552\/Gulf-Capital-accelerates-investment-pace-in-Egypt-with-over-EGP5-billion-invested-in-the-country-to-date-and-announces-New-Office-Opening\">press release<\/a>. Gulf Capital\u2019s <a href=\"https:\/\/www.gulfcapital.com\/en-US\/1\/16\/Our-Portfolio\">private equity portfolio<\/a> in Egypt includes digital healthcare platform Vezeeta and glass manufacturer Middle East Glass.<\/p>\n<p><strong>What sectors does Gulf Capital like going forward? <\/strong>It name-checked technology, healthcare, business services, consumer and sustainability.<\/p>\n<p><strong>The firm is planning to exit one of its local investments through an IPO on the EGX,<\/strong> <a href=\"https:\/\/bit.ly\/3K90O06\">Al<\/a><a href=\"https:\/\/bit.ly\/3K90O06\">Mal<\/a> quotes El Solh as saying. He didn\u2019t disclose the name of the company, the sector in which it operates, or the expected size or timeline of the listing, saying that preparations are still at an early stage. The firm plans to exit another of its Egyptian subsidiaries through a sale to a strategic investor, El Solh added.<\/p>\n<p><strong>Egypt is increasingly popular among Gulf investors:<\/strong> First Abu Dhabi Bank\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8d68b5eb-a11f-4c88-b404-0e64bb3de85d\">offer<\/a> to buy a majority stake in leading financial services provider EFG Hermes is only the latest sign of a growing interest in the Egyptian market among Gulf companies. FAB last year <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eb1b0f90-8b66-49c2-a2d9-5128a0be09c6\">purchased Bank Audi Egypt<\/a>, while Bahrain\u2019s Bank ABC acquired Blom Bank\u2019s Egypt arm <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a4b287f2-a3b9-4821-9670-9dc5c1650303\">last August.<\/a> And a consortium of Aldar and Abu Dhabi wealth fund ADQ closed in December its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6ff33ea0-89c5-479c-87c3-bace1f57c63c\">acquisition of our friends at SODIC<\/a>.<\/p>\n<p><strong>About Gulf Capital: <\/strong>The asset management firm focuses primarily on late-stage control buy-outs, growth capital, private debt and real estate projects in the Middle East region. The company currently holds some USD 2.5 bn in assets under management.<\/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\/gulf-capital\/\">Gulf Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/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=\"544441\" 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=\"544441\">\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\/03\/homzmart-acquires-mockup-studio\/\">\r\n                            Homzmart acquires MockUp Studio                        <\/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\/03\/homzmart-acquires-mockup-studio\/\" 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\/03\/homzmart-acquires-mockup-studio\/')\">\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\/03\/homzmart-acquires-mockup-studio\/\">\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=Homzmart acquires MockUp Studio&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/homzmart-acquires-mockup-studio\/\">\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\/03\/homzmart-acquires-mockup-studio\/&title=Homzmart acquires MockUp Studio\">\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=Homzmart+acquires+MockUp+Studio+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F03%2Fhomzmart-acquires-mockup-studio%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\/03\/homzmart-acquires-mockup-studio\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/37.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"544442\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/homzmart-acquires-mockup-studio\/37-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/37.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"37.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/37.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/37.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544441\" class=\"content-area-description single-story post-544441 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-enterpriseam tag-homzmart tag-ma-watch tag-mockup-studio 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>Furniture and home goods marketplace <\/strong><strong><a href=\"https:\/\/homzmart.com\/\">Homzmart<\/a><\/strong><strong> has acquired <\/strong><strong>Berlin-based startup <\/strong><strong><a href=\"https:\/\/www.f6s.com\/mockupstudio\">MockUp Studio<\/a><\/strong> for an undisclosed sum, according to a <a href=\"https:\/\/ent.news\/2022\/3\/MockUp-Studio-Homzmart-2-March-2022.pdf\">press release (pdf)<\/a>. The tech-enabled interior design startup, founded in 2015, uses AI and computer vision to automatically measure and design a space \u201cto match user styles and the room architecture,\u201d allowing users to visualize furniture and finishings in their homes before clicking through to buy.<\/p>\n<p><strong>We said late last year that more and more startups would turn to M&A to deliver growth<\/strong> following a rash of early-stage companies buying out their competition. But what we had in mind was \u201cconsolidation\u201d: Company \u201cA\u201d buying \u201cB\u201d to grow its market share in a fragmented, early-stage market. What Homzmart is doing appears different \u2014 and very much out of the Apple playbook: It\u2019s acquiring MockUp Studio not to add size, but to buy a core technology that will help it build a bigger moat around its business.<\/p>\n<p><strong>What they said:<\/strong> \u201cAdding MockUp Studio\u2019s technology means consumers can have the full interior design experience \u2014 browsing Homzmart\u2019s entire catalogue, and viewing their desired space, in just a few clicks,\u201d said Homzmart CEO and co-founder Mahmoud Ibrahim.<\/p>\n<p><strong>About Homzmart:<\/strong> Founded in 2019, Homzmart\u2019s B2C marketplace allows customers to purchase furniture products from a variety of brands and merchants. Last year, the company landed USD 15 mn in a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/52260fc8-f1aa-4e34-ba4d-a17fc5d9e42b\">series A<\/a> round led by China\u2019s <a href=\"https:\/\/www.msacap.com\/\">MSA Capital<\/a> and Emirati-Saudi VC firm <a href=\"https:\/\/nuwacapital.io\/\">Nuwa Capital<\/a>, bringing the total amount it has raised to USD 17.2 mn. Homzmart tripled its operations in 2021, according to the release.<\/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\/homzmart\/\">Homzmart<\/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\/mockup-studio\/\">MockUp Studio<\/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=\"544443\" 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=\"544443\">\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\">Education<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/french-egyptian-consortium-awarded-the-design-of-the-french-university-in-egypts-new-campus\/\">\r\n                            French-Egyptian consortium awarded the design of the French University in Egypt\u2019s new campus                        <\/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\/03\/french-egyptian-consortium-awarded-the-design-of-the-french-university-in-egypts-new-campus\/\" 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\/03\/french-egyptian-consortium-awarded-the-design-of-the-french-university-in-egypts-new-campus\/')\">\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\/03\/french-egyptian-consortium-awarded-the-design-of-the-french-university-in-egypts-new-campus\/\">\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=French-Egyptian consortium awarded the design of the French University in Egypt\u2019s new campus&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/french-egyptian-consortium-awarded-the-design-of-the-french-university-in-egypts-new-campus\/\">\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\/03\/french-egyptian-consortium-awarded-the-design-of-the-french-university-in-egypts-new-campus\/&title=French-Egyptian consortium awarded the design of the French University in Egypt\u2019s new campus\">\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=French-Egyptian+consortium+awarded+the+design+of+the+French+University+in+Egypt%E2%80%99s+new+campus+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F03%2Ffrench-egyptian-consortium-awarded-the-design-of-the-french-university-in-egypts-new-campus%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\/03\/french-egyptian-consortium-awarded-the-design-of-the-french-university-in-egypts-new-campus\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/39.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"544444\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/french-egyptian-consortium-awarded-the-design-of-the-french-university-in-egypts-new-campus\/39-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/39.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"39.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/39.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/39.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544443\" class=\"content-area-description single-story post-544443 post type-post status-publish format-standard has-post-thumbnail hentry category-education tag-education tag-enterpriseam tag-jakob-macfarlane 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>New French University in Egypt campus to be designed by Jakob + <\/strong><strong>Macfarlane-led <\/strong><strong>consortium:<\/strong> The design of a new campus for the French University in Egypt has been awarded to a consortium comprising French architecture firm <a href=\"http:\/\/www.jakobmacfarlane.com\/\">Jakob + Macfarlane<\/a>, engineering firm <a href=\"https:\/\/www.arteliagroup.com\/en\">Artelia<\/a>, landscape architects Sempervirens, and Cairo-based <a href=\"https:\/\/www.rmc-partners.net\/\">Raafat Miller Consulting<\/a>, according to a <a href=\"https:\/\/ent.news\/2022\/3\/Jakob-Macfarlane-French-University-in-Egypt.pdf\">press release (pdf)<\/a> from Jakob + Makfarlane. The university chose the consortium after a competitive bidding process it launched for French-Egyptian joint ventures.<\/p>\n<p><strong>About the campus:<\/strong> The Shorouk City campus will accommodate up to 7k students. Sustainable and energy-saving elements include an overhead solar panel shade roof and a filtration system that captures water from accommodation and repurposes it for landscape irrigation.<\/p>\n<p><strong>Background:<\/strong> The House of Representatives in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e0f1730-2607-4c52-9fa3-15660674fe27\">October<\/a> approved the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e9679b79-63ce-46af-8e08-9efef306210d\">agreement<\/a> signed between Egypt and the French Development Agency (AFD) to build a new campus for the French University in Egypt. The agreement <a href=\"https:\/\/bit.ly\/3pw6bhQ\">consists<\/a> of a EUR 12 mn loan and a EUR 2 mn grant from the AFD to help finance the project. The Egyptian state will bear the EGP 700 mn (EUR 40 mn) construction costs, president <a href=\"https:\/\/ufe.edu.eg\/students-to-the-future-of-education\/\">Denis Darpy<\/a> said previously, adding that the new campus would allow the university to increase enrolment from a current 600 students to 3k by 2027.<\/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\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jakob-macfarlane\/\">Jakob + Macfarlane<\/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=\"544445\" 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=\"544445\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/childcare-e-commerce-platform-mumerz-gets-usd-1-2-mn-in-pre-seed-investment\/\">\r\n                            Childcare e-commerce platform Mumerz gets USD 1.2 mn in pre-seed investment                        <\/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\/03\/childcare-e-commerce-platform-mumerz-gets-usd-1-2-mn-in-pre-seed-investment\/\" 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\/03\/childcare-e-commerce-platform-mumerz-gets-usd-1-2-mn-in-pre-seed-investment\/')\">\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\/03\/childcare-e-commerce-platform-mumerz-gets-usd-1-2-mn-in-pre-seed-investment\/\">\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=Childcare e-commerce platform Mumerz gets USD 1.2 mn in pre-seed investment&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/childcare-e-commerce-platform-mumerz-gets-usd-1-2-mn-in-pre-seed-investment\/\">\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\/03\/childcare-e-commerce-platform-mumerz-gets-usd-1-2-mn-in-pre-seed-investment\/&title=Childcare e-commerce platform Mumerz gets USD 1.2 mn in pre-seed investment\">\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=Childcare+e-commerce+platform+Mumerz+gets+USD+1.2+mn+in+pre-seed+investment+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F03%2Fchildcare-e-commerce-platform-mumerz-gets-usd-1-2-mn-in-pre-seed-investment%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\/03\/childcare-e-commerce-platform-mumerz-gets-usd-1-2-mn-in-pre-seed-investment\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544445\" class=\"content-area-description single-story post-544445 post type-post status-publish format-standard hentry category-startup-watch tag-e-commerce tag-enterpriseam tag-mumerz 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-05\"><\/a><strong> E-commerce platform <\/strong><strong><a href=\"https:\/\/mumerz.com\/en\">Mumerz<\/a><\/strong> <strong>has raised USD 1.2 mn in a pre-seed funding round <\/strong><strong>led by Disruptech Ventures<\/strong>, co-founder and CMO Nadia Gamal El Din told Enterprise, confirming a report from <a href=\"https:\/\/magnitt.com\/news\/mumerz-1-2m-pre-seed-53259?utm_source=insight&utm_medium=email&utm_campaign=Amp\">Magnitt<\/a>.<\/p>\n<p><strong>National growth, more customer support + an app coming:<\/strong> The funds will go towards expanding the platform\u2019s product portfolio and nationwide reach, and increasing investments in customer experience, Gamal El Din told us. The company is preparing to launch an app within weeks, Gamal El Din said, adding that Mumerz also hopes to expand outside of Egypt in the coming years.<\/p>\n<p><strong>About Mumerz:<\/strong> The parent community support and e-commerce platform, which launched in January and is currently available in Cairo, Giza and Alexandria, was co-founded by Gamal El Din, alongside CEO Amir Shenouda and Salah Ghobrial. <strong>The platform bills itself as Egypt\u2019s largest online store for baby products<\/strong>, and promises next-day delivery, online shopping assistance and competitive market prices.<\/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\/e-commerce\/\">e-commerce<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mumerz\/\">Mumerz<\/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=\"544446\" 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=\"544446\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/editas-net-income-up-nearly-57-in-2021\/\">\r\n                            Edita\u2019s net income up nearly 57% in 2021                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/editas-net-income-up-nearly-57-in-2021\/\" 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\/03\/editas-net-income-up-nearly-57-in-2021\/')\">\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\/03\/editas-net-income-up-nearly-57-in-2021\/\">\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=Edita\u2019s net income up nearly 57% in 2021&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/editas-net-income-up-nearly-57-in-2021\/\">\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\/03\/editas-net-income-up-nearly-57-in-2021\/&title=Edita\u2019s net income up nearly 57% in 2021\">\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=Edita%E2%80%99s+net+income+up+nearly+57%25+in+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F03%2Feditas-net-income-up-nearly-57-in-2021%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/editas-net-income-up-nearly-57-in-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/41.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"544447\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/editas-net-income-up-nearly-57-in-2021\/41-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/41.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"41.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/41.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/41.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544446\" class=\"content-area-description single-story post-544446 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-earnings-watch tag-edita tag-enterpriseam tag-fmcg wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a><strong> Edita Food Industries\u2019 net income jumped 56.5% y-o-y in FY2021,<\/strong> reaching EGP 473 mn, according to the company\u2019s preliminary<a href=\"https:\/\/ent.news\/2022\/3\/Edita-FY2021-Preliminary-Results-E.pdf\">earnings release (pdf)<\/a>. Revenues increased by nearly 31% y-o-y, recording EGP 5.25 bn on the back of better pricing and sales volumes, the company said, adding that FY2021 volumes surpassed pre-covid levels, and matched *drumroll* pre-devaluation levels<strong>. <\/strong><\/p>\n<p><strong>The snackfoods company\u2019s bottom line increased by 55% y-o-y in 4Q2021,<\/strong> recording EGP 197 mn, while revenues rose nearly 26% to record EGP 1.5 bn for the quarter. Edita started operations at its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fb75c32a-72b5-4bc0-9bf9-8b8042777dc8\">new Morocco factory<\/a> in 4Q2021, marking the company\u2019s first greenfield investment outside of Egypt. The EGP 200 mn plant currently produces 2.7k tons of HoHos cakes every year.<\/p>\n<p><strong>Edita\u2019s honing in on baked goods + wafers: <\/strong>The company\u2019s cakes and bakery segments together accounted for around 80% of revenues last year, while its wafers segment was the fastest-growing, recording an 81.6% jump in revenues to EGP 610.6 mn<strong>. <\/strong>The snackfoods maker plans to invest around EGP 400 mn to add new production lines for its baked goods and wafers segments this year. Last month, Edita rebranded its Molto Sandwich line to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/56f0c03d-dbeb-4f1c-96f4-a2c879150d02\">Molto Fino<\/a> and added three new flavors, and expanded its biscuits segment with the launch of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b5ad5b8c-53b3-4500-ae72-f9383cf01093\">Oniro Lava<\/a>, following on from the launch of its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b5ad5b8c-53b3-4500-ae72-f9383cf01093\">Freska Choco Sticks<\/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\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/edita\/\">Edita<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fmcg\/\">FMCG<\/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=\"544448\" 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=\"544448\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/544448\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544448\" class=\"content-area-description single-story post-544448 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=\"544449\" 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=\"544449\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/last-nights-talk-shows-more-on-the-war-female-judges-now-officially-seated-el-sisi-inaugurates-national-infrastructure-projects\/\">\r\n                            Last Night\u2019s Talk Shows: More on the war + Female judges now officially seated + El Sisi inaugurates national infrastructure projects                        <\/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        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href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/last-nights-talk-shows-more-on-the-war-female-judges-now-officially-seated-el-sisi-inaugurates-national-infrastructure-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=Last Night\u2019s Talk Shows: More on the war + Female judges now officially seated + El Sisi inaugurates national infrastructure projects&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/last-nights-talk-shows-more-on-the-war-female-judges-now-officially-seated-el-sisi-inaugurates-national-infrastructure-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\/2022\/03\/03\/last-nights-talk-shows-more-on-the-war-female-judges-now-officially-seated-el-sisi-inaugurates-national-infrastructure-projects\/&title=Last Night\u2019s Talk Shows: More on the war + Female judges now officially seated + El Sisi inaugurates national infrastructure 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=Last+Night%E2%80%99s+Talk+Shows%3A+More+on+the+war+%2B+Female+judges+now+officially+seated+%2B+El+Sisi+inaugurates+national+infrastructure+projects+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F03%2Flast-nights-talk-shows-more-on-the-war-female-judges-now-officially-seated-el-sisi-inaugurates-national-infrastructure-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>\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\/03\/last-nights-talk-shows-more-on-the-war-female-judges-now-officially-seated-el-sisi-inaugurates-national-infrastructure-projects\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544449\" class=\"content-area-description single-story post-544449 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-council-of-state tag-enterpriseam tag-housing-projects tag-last-nights-talk-shows tag-madbouly-government tag-russia tag-ukraine wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The Russia-Ukraine war dominated the airwaves once again last night. <\/strong>Al Hayah Al Youm highlighted the UN General Assembly\u2019s vote to censure Russia (<a href=\"https:\/\/youtu.be\/sQ9flirRPWU\">watch, runtime: 3:08<\/a>), while Ala Mas\u2019ouleety\u2019s Ahmed Moussa gave a rundown of the fighting, casualties and material damage (<a href=\"https:\/\/www.facebook.com\/watch\/?v=1275341416321274\">watch, runtime: 7:52<\/a>), and took a call with former Oil Minister Osama Kamal about the war\u2019s effect on global energy markets (<a href=\"https:\/\/www.youtube.com\/watch?v=MrZZNYDpcr0\">watch, runtime: 9:16<\/a>).<\/p>\n<p><strong>And from the nothing-to-do-with-the-war file: <\/strong><\/p>\n<p><strong>All <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cb24906d-ae4c-4bbe-b0d1-3ea0a79c0749\">98 women judges<\/a><\/strong><strong> appointed to the Council of State (Maglis El Dawla) will officially assume their positions<\/strong> on the court\u2019s benches starting Saturday, council Secretary-General Taha Karsou told Yahduth Fi Masr (<a href=\"https:\/\/www.youtube.com\/watch?v=_NPpuuzlfF4\">watch, runtime: 5:00<\/a>).<\/p>\n<p><strong>President Abdel Fattah El Sisi inaugurated housing and road projects in Greater Cairo yesterday <\/strong>and instructed the government to prepare a study on ways to ease traffic<strong>. <\/strong>Al Hayah Al Youm aired part of El Sisi\u2019s speech (<a href=\"https:\/\/www.youtube.com\/watch?v=q7nU5RKmz3o\">watch, runtime: 1:19<\/a>) and Masaa DMC had the details (<a href=\"https:\/\/www.youtube.com\/watch?v=_6aCaxlBsYU\">watch, runtime: 4:58<\/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\/council-of-state\/\">Council of State<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/housing-projects\/\">housing projects<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> 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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=\"544451\" 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=\"544451\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/egypt-in-the-news-more-war-less-wheat\/\">\r\n                            Egypt in the News: More war, less wheat                        <\/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\/03\/egypt-in-the-news-more-war-less-wheat\/\" 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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               <\/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\/03\/egypt-in-the-news-more-war-less-wheat\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544451\" class=\"content-area-description single-story post-544451 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-commodities tag-enterpriseam tag-russia tag-subsidies tag-ukraine tag-war tag-wheat wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The international press is taking note of the link between rising wheat prices here <\/strong><strong>at home and the war in Ukraine this morning. <\/strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-02\/war-choking-off-wheat-leaves-middle-east-buyers-most-vulnerable?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a> explores what the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/74c0dedf-7743-40b0-8037-9a3fd5e235d1\">rising price of grain imports<\/a> on the back of stalled Black Sea supplies could mean for the government\u2019s upcoming overhaul of the bread subsidy system, while the <a href=\"https:\/\/www.ft.com\/content\/cf0212cf-21f3-4520-ae5f-136ce3f78afc\">Financial Times<\/a> passes by Egypt on a whistle-stop tour of how the war is pressuring commodities markets the world over.<\/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\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/subsidies\/\">subsidies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ukraine\/\">Ukraine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/war\/\">war<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/a>\n                <!-- <span 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href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/ni-capitals-fixed-income-fund-closes-early-on-high-demand\/\">\r\n                            NI Capital\u2019s fixed income fund closes early on high demand                        <\/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\/03\/ni-capitals-fixed-income-fund-closes-early-on-high-demand\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n          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status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-car-licenses tag-enterpriseam tag-fixed-income-fund tag-fund-15-30 tag-interior-ministry tag-mb-engineering tag-ni-capital 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><strong>National Investment Bank subsidiary<\/strong> <strong>NI Capital\u2019s fixed income fund<\/strong> <strong>c<\/strong><strong>losed 30x oversubscribed yesterday<\/strong>, attracting EGP 1.5 bn of inflows, Planning Minister Hala El Said announced in a <a href=\"https:\/\/www.facebook.com\/photo.php?fbid=497337535089421&amp;set=a.321642402658936&amp;type=3\">statement<\/a>. The fund, which launched in mid-February, closed early on the back of the strong demand. It will invest in treasury bills and bonds, corporate bonds, sukuk, bank deposits and securitized paper.<\/p><p><strong>Egyptian fruit and vegetable exports to the UAE now need pesticide residue <\/strong><strong><a href=\"https:\/\/alborsaanews.com\/2022\/03\/02\/1515509\">certificates<\/a><\/strong><strong> again<\/strong>. The requirement was put on hold during the pandemic.<\/p><p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p><ul>\n<li><strong>Pharaonic Sinai: <\/strong>An archaeological mission <a href=\"https:\/\/bit.ly\/3pujjEk\">uncovered a number<\/a> of groundwater wells dating back to the Pharaonic era in the Tell El-Kedwa site in North Sinai.<\/li>\n<li>EGX-listed<strong> MB Engineering <\/strong><a href=\"https:\/\/ent.news\/2022\/3\/MP-Engineering.pdf\">will set up<\/a> an <strong>EGP 10 mn electric vehicle charging <\/strong><strong>subsidiary<\/strong>.<\/li>\n<li><strong>El Tarek Automotive <\/strong><strong>has acquired a <\/strong><strong><a href=\"https:\/\/ent.news\/2022\/3\/El-Tarek-Automitive.pdf\">23% stake (pdf)<\/a><\/strong> <strong>in Incolease<\/strong> in an EGP 189 mn transaction.<\/li>\n<li><strong>Fixed Solutions gets an e-signature license:<\/strong> The Information Technology Industry Development Agency granted <a href=\"https:\/\/www.itida.gov.eg\/arabic\/Pages\/E-Signature.aspx\">its fourth license<\/a> for <a href=\"https:\/\/alborsaanews.com\/2022\/03\/02\/1515478\">e-signature services<\/a> to IT company <a href=\"https:\/\/fixedmea.com\/\">Fixed Solutions<\/a>.<\/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\/car-licenses\/\">car licenses<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fixed-income-fund\/\">fixed-income fund<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fund-15-30\/\">Fund 15-30<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interior-ministry\/\">Interior Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mb-engineering\/\">MB Engineering<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ni-capital\/\">NI 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=\"544454\" 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=\"544454\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/pfizer-commits-10-mn-paxlovid-courses-to-developing-countries\/\">\r\n                            Pfizer commits 10 mn Paxlovid courses to developing countries                        <\/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\/03\/pfizer-commits-10-mn-paxlovid-courses-to-developing-countries\/\" 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\/03\/pfizer-commits-10-mn-paxlovid-courses-to-developing-countries\/')\">\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\/03\/pfizer-commits-10-mn-paxlovid-courses-to-developing-countries\/\">\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=Pfizer commits 10 mn Paxlovid courses to developing countries&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/pfizer-commits-10-mn-paxlovid-courses-to-developing-countries\/\">\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\/03\/pfizer-commits-10-mn-paxlovid-courses-to-developing-countries\/&title=Pfizer commits 10 mn Paxlovid courses to developing countries\">\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=Pfizer+commits+10+mn+Paxlovid+courses+to+developing+countries+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F03%2Fpfizer-commits-10-mn-paxlovid-courses-to-developing-countries%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\/03\/pfizer-commits-10-mn-paxlovid-courses-to-developing-countries\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544454\" class=\"content-area-description single-story post-544454 post type-post status-publish format-standard hentry category-covid-watch tag-covid-19 tag-enterpriseam tag-pfizer wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The Health Ministry<\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/281712160806672\">reported<\/a><\/strong><strong> 1,288 new covid-19 infections yesterday<\/strong>, down from 1,322 the day before. Egypt has now disclosed a total of 486,381 confirmed cases of covid-19. The ministry also reported 22 new deaths, bringing the country\u2019s total death toll to 24,132.<\/p>\n<p><strong>Pfizer plans to provide around 10 mn courses of its covid antiviral Paxlovid to <\/strong><strong>developing countries this year,<\/strong> <a href=\"https:\/\/www.reuters.com\/world\/pfizer-provide-10-mln-courses-covid-pill-developing-countries-the-global-fund-2022-03-02\/\">Reuters<\/a> reported, citing an official with NGO the Global Fund. The fund is working to buy the meds heralded by the US administration as a \u201c<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-02-16\/-game-changer-pfizer-pill-easier-to-get-as-omicron-fades-away\">game-changer<\/a>,\u201d but said the promised pills were \u201cobviously not enough\u201d to meet demand. Pfizer charges USD 530 per treatment course in the US, and while the pharma giant has said it plans to charge less in lower income countries, it has not yet disclosed a price. It\u2019s also not yet clear if the funding exists globally to pay for the courses.<\/p>\n<p><strong>Speaking of Paxlovid \u2014 where\u2019s ours? <\/strong>We\u2019ve still heard no word on the shipment of Paxlovid that was supposed to arrive sometime in January, after we signed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e036ca10-2dc3-4f0c-b458-0bb295046d17\">an agreement<\/a> with the pharma giant to provide pills to treat some 20k people.<\/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\/pfizer\/\">Pfizer<\/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=\"544455\" 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=\"544455\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/russias-war-continues-to-reverberate-through-commodities-equities\/\">\r\n                            Russia\u2019s war continues to reverberate through commodities + equities                        <\/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\/03\/russias-war-continues-to-reverberate-through-commodities-equities\/\" 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\/03\/russias-war-continues-to-reverberate-through-commodities-equities\/')\">\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\/03\/russias-war-continues-to-reverberate-through-commodities-equities\/\">\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=Russia\u2019s war continues to reverberate through commodities + equities&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/russias-war-continues-to-reverberate-through-commodities-equities\/\">\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\/03\/russias-war-continues-to-reverberate-through-commodities-equities\/&title=Russia\u2019s war continues to reverberate through commodities + equities\">\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=Russia%E2%80%99s+war+continues+to+reverberate+through+commodities+%2B+equities+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F03%2Frussias-war-continues-to-reverberate-through-commodities-equities%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\/03\/russias-war-continues-to-reverberate-through-commodities-equities\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544455\" class=\"content-area-description single-story post-544455 post type-post status-publish format-standard hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-gold tag-planet-finance tag-russia-sanctions tag-russia-ukraine-war tag-sberbank-austria wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a><strong> Commodities spiral as traders avoid Russian exports: <\/strong>The Russia-Ukraine war has pushed global commodities markets to the edge, fueling shortages and quickening already-high global inflation, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-02\/commodities-hit-new-highs-as-traders-refuse-to-buy-from-russia\">Bloomberg<\/a>. Wheat prices yesterday rose to their highest since 2008, while oil passed USD 112 per barrel, and European natural gas rose as much as 60% to hit an all-time record. Even though there aren\u2019t any direct sanctions on Russian commodities, traders are increasingly deciding that doing business with the politically isolated country is not worth the risk, due to banking sanctions already in place, fears of potential new restrictions on Russian exports, and concerns that dealing with Moscow could damage their reputations.<\/p><p><strong>MAKING MATTERS WORSE? The US is considering imposing sanctions on Russia's oil and gas<\/strong>, but \u201cnot right now,\u201d <a href=\"https:\/\/www.reuters.com\/business\/energy\/us-open-sanctioning-russian-energy-sector-white-house-2022-03-02\/\">Reuters<\/a> reported White House officials as saying.<\/p><p><strong>Meanwhile, the Moscow Exchange is still closed, marking its longest pause since<\/strong> <strong>October 1998, <\/strong>according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-02\/russia-keeps-stock-market-closed-in-longest-shutdown-since-1998\">Bloomberg<\/a><strong>. <\/strong>In an attempt to keep local assets from plunging after the US and Europe imposed harsh sanctions, Russia kept its stock market shut for the third day in a row yesterday, according to a <a href=\"https:\/\/www.cbr.ru\/eng\/press\/pr\/?file=02032022_080000ENG_PP02032022_114139.htm\">Bank of Russia statement<\/a>.<\/p><p><strong>The country\u2019s sovereign wealth fund is preparing to buy USD 10 bn worth of local stocks when the exchange reopens<\/strong> in an attempt to shore up the market, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-01\/russia-dusts-off-2008-playbook-with-10-billion-ready-for-stocks\">Bloomberg<\/a> reports.<\/p><p><strong>And Sberbank Austria is the first banking victim of Russia-targeted sanctions: <\/strong>The Austrian unit of Russia\u2019s biggest lender went into insolvency yesterday, reports the <a href=\"https:\/\/www.ft.com\/content\/7cc30484-9fc1-4bdf-8fd4-51409f82da1f\">Financial Times<\/a>. Sberbank announced it would withdraw from Europe completely following the news, with plans to sell off or wind down all its EU operations amid \u201can exceptional outflow of funds and a number of safety concerns regarding [subsidiaries\u2019] employees and offices.\u201d<\/p><p><strong>Ukraine has raised over USD 277 mn from the sale of war bonds<\/strong> issued yesterday. The funds \u201cwill be used to meet the needs of the Armed Forces of Ukraine and to ensure the uninterrupted provision of the state\u2019s financial needs under the war,\u201d the Ukrainian Finance Ministry <a href=\"https:\/\/twitter.com\/ua_minfin\/status\/1498319438948536323?s=20&amp;t=x9Ka2AaZsf1YrztCexRaMg\">said in a tweet<\/a>. The ministry offered <a href=\"https:\/\/twitter.com\/ua_minfin\/status\/1498678054578753546?s=20&amp;t=x9Ka2AaZsf1YrztCexRaMg\">two bonds<\/a>, one with a one-year tenure and a yield of 11%, and the second with a two-month tenure and 10% yield. The country is on the hunt for more ways to raise foreign currency and is currently in talks with the IMF and the World Bank, Ukraine\u2019s debt chief told <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-01\/how-to-buy-ukraine-war-bonds-investors-look-to-risky-bet-to-help-show-support?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a>. <strong>In a <\/strong><strong><a href=\"https:\/\/www.imf.org\/en\/News\/Articles\/2022\/03\/01\/pr2252-joint-imf-world-bank-group-statement-on-the-war-in-ukraine\">joint statement<\/a><\/strong><strong>, the two global lenders said they were looking at preparing USD bns in support for Ukraine over the coming months<\/strong>, with decisions to be made this week and next.<\/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>11,189<\/p>\n<\/td>\n<td>\n<p>-0.8% (YTD: -6.4%)<\/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-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>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>12,655<\/p>\n<\/td>\n<td>\n<p>-0.2% (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>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>9,680<\/p>\n<\/td>\n<td>\n<p>+1.7% (YTD: +14%)<\/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>3,468<\/p>\n<\/td>\n<td>\n<p>+2.1% (YTD: +8.5%)<\/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>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,387<\/p>\n<\/td>\n<td>\n<p>+1.9% (YTD: -8.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,430<\/p>\n<\/td>\n<td>\n<p>+1.4% (YTD: +0.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 112.93<\/p>\n<\/td>\n<td>\n<p>+7.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 4.82<\/p>\n<\/td>\n<td>\n<p>+1.2%<\/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>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,930<\/p>\n<\/td>\n<td>\n<p>+0.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 44,065<\/p>\n<\/td>\n<td>\n<p>+0.2% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 fell 0.8% at yesterday\u2019s close<\/strong> on turnover of EGP 829 mn (17% below the 90-day average). Foreign investors were net sellers. The index is down 6.4% YTD.<\/p><p><strong>In the green: <\/strong>Qalaa Holdings (+3.6%), CIRA (+2.9%) and Telecom Egypt (+2.8%).<\/p><p><strong>In the red: <\/strong>Palm Hills Development (-3.1%), Cleopatra Hospital (-2.7%) and Rameda (-2.7%).<\/p><p><strong>Asian markets are up across the board in early trading this morning.<\/strong> Futures are less optimistic for Wall Street and in Europe, where major indices are all set to open in the red after making gains yesterday on the back of reassurances for gradual rate hikes from the US Fed.<\/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\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gold\/\">gold<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia-sanctions\/\">Russia sanctions<\/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\/sberbank-austria\/\">Sberbank Austria<\/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=\"544456\" 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=\"544456\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/cit-minister-discusses-investment-with-multinational-players-rwanda-cooperation-at-barcelona-conference\/\">\r\n                            CIT Minister discusses investment with multinational players, Rwanda cooperation at Barcelona conference                        <\/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\/03\/cit-minister-discusses-investment-with-multinational-players-rwanda-cooperation-at-barcelona-conference\/\" 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\/03\/cit-minister-discusses-investment-with-multinational-players-rwanda-cooperation-at-barcelona-conference\/')\">\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\/03\/cit-minister-discusses-investment-with-multinational-players-rwanda-cooperation-at-barcelona-conference\/\">\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=CIT Minister discusses investment with multinational players, Rwanda cooperation at Barcelona conference&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/cit-minister-discusses-investment-with-multinational-players-rwanda-cooperation-at-barcelona-conference\/\">\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\/03\/cit-minister-discusses-investment-with-multinational-players-rwanda-cooperation-at-barcelona-conference\/&title=CIT Minister discusses investment with multinational players, Rwanda cooperation at Barcelona conference\">\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=CIT+Minister+discusses+investment+with+multinational+players%2C+Rwanda+cooperation+at+Barcelona+conference+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F03%2Fcit-minister-discusses-investment-with-multinational-players-rwanda-cooperation-at-barcelona-conference%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\/03\/cit-minister-discusses-investment-with-multinational-players-rwanda-cooperation-at-barcelona-conference\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544456\" class=\"content-area-description single-story post-544456 post type-post status-publish format-standard hentry category-diplomacy tag-cisco tag-cit tag-cit-ministry tag-diplomacy tag-enterpriseam tag-rwanda wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Communications Minister Amr Talaat discussed investment with multinational tech firms <\/strong><strong>Cisco and Oppo <\/strong>on the sidelines of the <a href=\"https:\/\/www.mwcbarcelona.com\/\">MWC Barcelona<\/a> telecoms conference, according to a<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/350017797168647\">cabinet statement<\/a>. Talaat discussed increasing <strong>Cisco Systems<\/strong>\u2019 investments in Egypt with company CEO Chuck Robbins, and met with <strong>Oppo<\/strong> representatives to talk about setting up a local factory to assemble the company\u2019s mobile phones.<\/p>\n<p><strong>Egyptian-Rwandan connectivity cooperation:<\/strong> Talaat also discussed working together on IT, communications and digital innovation with his Rwandan counterpart Paula Ingabere.<\/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\/cisco\/\">Cisco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cit\/\">CIT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cit-ministry\/\">CIT ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/rwanda\/\">Rwanda<\/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=\"544457\" 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=\"544457\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/my-morning-routine-yasmine-el-hini-country-officer-and-acting-country-manager-ifc-egypt\/\">\r\n                            My Morning Routine: Yasmine El Hini, Country Officer and Acting Country Manager, IFC Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/my-morning-routine-yasmine-el-hini-country-officer-and-acting-country-manager-ifc-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Last year, the IFC invested in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/427792ac-8f99-4ad9-bf86-56c75afcef9c\">solar irrigation systems<\/a> for Egyptian farmers, signed an <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c41abd1e-87f9-4dee-8528-6d35c5f84974\">agreement<\/a> with the International Cooperation Ministry and the National Council for Women (NCW) to improve women\u2019s economic engagement and participated in Egypt\u2019s first (and only) corporate <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c41abd1e-87f9-4dee-8528-6d35c5f84974\">green bond issuance<\/a> last year with CIB, making it one of the biggest <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/34359488-bebe-45fc-be5b-6a2bf16c7563\">contributors<\/a> to private sector financing in Egypt last year, with investments of USD 720 mn over the last two fiscal years. Edited excerpts from our conversation follow:<\/p>\n<p><strong>My name is Yasmine El Hini and I am the Country Officer for IFC in Egypt and I\u2019m also currently Acting Country Manager. <\/strong>I started my career in management consulting with booz & co., which is now called Strategy&. I joined IFC in 2012 and spent five years there. I started in their advisory practice and then moved to the infrastructure investment team. Then I went to Dubai where I joined Majid Al Futtaim Holding and rejoined IFC in 2019 in my current role.<\/p>\n<p><strong>My role is to develop IFC\u2019s strategy in Egypt across the different businesses and themes. <\/strong>And we\u2019re also responsible for driving the strategy implementation of IFC by working with the different teams, and for managing the relationships with the government and with key stakeholders in the country. So you can think of it as we develop the strategy and then we partner with the different stakeholders to make sure that it\u2019s implemented and to make sure that we are growing IFC\u2019s business and having the impact that we want to have in the country. We want to make sure that we bring the best of IFC\u2019s global experience to Egypt.<\/p>\n<p><strong>I wake up at 7am and I make my coffee and start with a quiet reflection of the day before mapping out my priorities for the day. <\/strong>I start working at around 9am. The first part of my day is usually blocked for high priority, strategic projects, and then I connect with my team and different stakeholders, and start to engage with the day-to-day. In between the reflection and the strategic projects, I read Enterprise.<\/p>\n<p><strong>I do two things to stay focused and organized. <\/strong>I regularly have sessions with my team where we map out our own strategies and focus areas for the next few months. So we have quarterly sessions where we look at our role as a country office in the IFC\u2019s strategy. Then we take that and translate it into a day-to-day work plan that we follow throughout the week, recalibrating as we go along. We hold ourselves accountable to that. It's very important to block that time that can help you stay focused and strategic.<\/p>\n<p><strong>IFC is the private sector development arm of the World Bank Group, so our focus is on creating jobs through the private sector, promoting businesses that are sustainable and inclusive and to create jobs and support the sustainable development agenda by supporting the private sector. <\/strong>Our core is to invest in the private sector through debt or equity and give them advisory support to build their capabilities through corporate governance and ESG advisory, financial management, healthcare quality, etc. And we work with the government to help them create an attractive investment environment to attract private investment from Egypt and global investors.<\/p>\n<p><strong>We\u2019ve invested around USD 1 bn on climate in Egypt since 2016. <\/strong>At first it was very focused on renewable energy, and then it shifted to financial institutions. But for it to be more scalable and sustainable, it has to shift across all the different sectors, so now we\u2019re working more with the manufacturing sector on climate-related projects focused on resources and water.<\/p>\n<p><strong>We have a very strong gender program at IFC and it\u2019s also diverse.<\/strong> We have a program where we work to help banks create products and services that cater to females to help them grow their own portfolio. We also have the Egypt women's employment program, which is focused on creating workplaces that are inclusive to women.<\/p>\n<p><strong>After inclusion and climate, our third priority is healthcare. <\/strong>There are a lot of investment opportunities and we\u2019ve made a number of important investments in the healthcare sector, and we\u2019re looking to do a lot more investments in healthcare services and pharma. We are also working with healthcare providers on the quality side. We did a deep dive into the sector and what is needed to bring more private sector into it and we will make some of the outcomes of that public.<\/p>\n<p><strong>I spend a lot of time with my family and friends to relax. <\/strong>I like to travel as frequently as I can. I\u2019m most at ease when I\u2019m by the sea. I\u2019m also a foodie and I love to experience food from different cultures whenever I travel. And I also love performing arts, opera, ballet, musicals. Whenever I travel, I like to check out their local performing arts scene.<\/p>\n<p><strong>I love fiction, especially Japanese author Haruki Murakami\u2019s short stories.<\/strong> If I were to add something that allows me to relax, it\u2019s reading fiction, because it allows me to disconnect from the real world and go to a different reality where I can experience other people\u2019s lives. Also, I love the series The Crown. It makes you realize that there is such a common factor in the human experience, which is very humbling. But I also like watching the Queen\u2019s personal leadership journey.<\/p>\n<p><strong>One of my mentors introduced me to the idea that life is a marathon, not a sprint<\/strong>, and it resonated with me, because it helped me to stay strategic and focus on what matters. It also helps me remember not to sweat the small stuff.<\/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\/international-finance-corporation\/\">International Finance Corporation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/yasmine-el-hini\/\">Yasmine El Hini<\/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=\"544459\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/03\/544459\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544459\" class=\"content-area-description single-story post-544459 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>1Q2022: <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9cd1fc44-1593-4317-8658-0aa792215521\">Launch of the Egyptian Commodities Exchange<\/a>.<\/p>\n<p>1Q2022: Swvl acquisition of Viapool expected to close.<\/p>\n<p>1Q2022: Waste collection startup Bekia plans to expand to the UAE and Saudi Arabia.<\/p>\n<p>1Q2022: Rameda Pharma will begin selling its generic version of Merck\u2019s oral antiviral covid-19 med.<\/p>\n<p>1Q2022: Pharos Energy\u2019s sale of a 55% stake in El Fayum, Beni Suef concessions to IPR Energy Group subsidiary IPR Lake Qarun expected to close.<\/p>\n<p>Early 2022: Results <a href=\"https:\/\/www.elwatannews.com\/news\/details\/5876314\">to be announced<\/a> for the second round of the state\u2019s gold and precious metals auction.<\/p>\n<p>1H2022: Target date for IDH to close its acquisition of 50% of Islamabad Diagnostic Center.<\/p>\n<p>1H2022: e-Finance\u2019s digital healthcare service platform, eHealth, will launch its services.<\/p>\n<p>1H2022: The government will respond to private companies\u2019 bids to build desalination plants.<\/p>\n<p>1H2022: Egypt\u2019s second corporate green bond issuance expected to be announced.<\/p>\n<p>1H2022: The Transport Ministry <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/334230905414003\">to sign<\/a> a memorandum of understanding with <a href=\"https:\/\/www.adports.ae\/\">Abu Dhabi Ports<\/a> to set up a transport route across the Nile to transport products from Al Canal\u2019s Minya<a href=\"https:\/\/enterprise.press\/stories\/2018\/01\/23\/uaes-al-ghurair-to-invest-usd-1-bn-in-sugar-agriculture-project\/\">sugar factory<\/a>.<\/p>\n<p>January-February 2022: Construction work on the Abu Qir metro upgrade <a href=\"https:\/\/www.youtube.com\/watch?v=vXBilirlgw0\">will begin<\/a>.<\/p>\n<p>24 February-7 March (Thursday-Monday): <a href=\"https:\/\/www.facebook.com\/Diarna.moss\">Diarna Handicrafts Fair<\/a>. Cairo Festival City, Cairo.<\/p>\n<p>March: <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/304519788385115\">Rollout<\/a> of the government financial management information system (GFMIS), a suite of electronic tools to automate the government\u2019s financial management processes (<a href=\"https:\/\/ent.news\/2021\/7\/tnm1007.pdf\">pdf<\/a>) that will<\/p>\n<p>replace the existing \u201cclosed\u201d financial management system.<\/p>\n<p>March: Contracts for last two phases of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e2356273-f17c-4a5b-a987-663aab9a2e29\">Egypt\u2019s USD 4.5 bn high-speed rail line<\/a> to be signed.<\/p>\n<p>March: 4Q2021 earnings season.<\/p>\n<p>March: Deadline for the World Health Organization\u2019s <a href=\"https:\/\/www.who.int\/news\/item\/01-12-2021-world-health-assembly-agrees-to-launch-process-to-develop-historic-global-accord-on-pandemic-prevention-preparedness-and-response\">intergovernmental negotiating body<\/a> to meet to discuss binding treaty on future pandemic cooperation.<\/p>\n<p>March: World Cup playoffs.<\/p>\n<p>March: The government hopes to sign a final contract between El Nasr Automotive and a new partner for the local production of electric cars.<\/p>\n<p>March: Target date for Saudi tech firm Brmaja to IPO on the EGX.<\/p>\n<p>March: Egypt to <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/318887153615045\">host World<\/a><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/318887153615045\">Tourism Organization Middle East committee meeting<\/a>.<\/p>\n<p>March: The Salam &ndash; new administrative capital &ndash; 10th of Ramadan Light Rail Train (LRT) line <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/327078179462609\">will start operating<\/a>.<\/p>\n<p>March: The new multi-purpose station at <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b705927d-ff68-4720-8bae-3b3dfde3705d\">Dekheila Port and the revamped Ain Sokhna Port<\/a> will start operating.<\/p>\n<p>March: General Authority for Land and Dry Ports <a href=\"https:\/\/bit.ly\/3IbQQKI\">to issue the condition booklets<\/a> for the operations of the Tenth of Ramadan dry port.<\/p>\n<p>3 March (Thursday): Fawry\u2019s<a href=\"https:\/\/ent.news\/2022\/2\/Fawry-extraordinary-general-assembly-capital-increase-3-March.pdf\">extraordinary general assembly (pdf)<\/a> to vote on EGP 800 mn capital increase.<\/p>\n<p>9-18 March (Wednesday-Friday): The 55th edition of the <a href=\"https:\/\/www.facebook.com\/mift.media\/posts\/291436426360972\">Cairo International Fair<\/a>.<\/p>\n<p>15-16 March (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>20 March (Sunday): Applications close for Visa\u2019s global startup competition, the <a href=\"https:\/\/usa.visa.com\/visa-everywhere\/everywhere-initiative\/initiative.html\">Visa Everywhere Initiative<\/a>.<\/p>\n<p>24 March (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>25 March (Friday): Egypt will host Senegal in the first leg of their 2022 FIFA World Cup qualifiers&#39; playoff (TBC).<\/p>\n<p>26 March (Saturday): Egypt-EU World Trade Organization dispute settlement consultations end.<\/p>\n<p>28-29 March (Monday-Tuesday): The Egypt International Mining Show (<a href=\"https:\/\/egypt-mining.com\/\">EIMS 2022<\/a>) will take place virtually.<\/p>\n<p>28 March (Monday): The second leg of the 2022 FIFA World Cup qualifiers&#39; playoff between Egypt and Senegal (TBC).<\/p>\n<p>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":544434,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-544433","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"294db1ac-d5c4-4292-9ca8-d39ca401e4a1","teaser":"","photo_url":"https:\/\/ent.news\/2022\/3\/33.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>Egypt stands with Ukraine in voting for a UN resolution condemning Russia\u2019s war - 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\/egypt-stands-with-ukraine-in-voting-for-a-un-resolution-condemning-russias-war\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt stands with Ukraine in voting for a UN resolution condemning Russia\u2019s war\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-stands-with-ukraine-in-voting-for-a-un-resolution-condemning-russias-war\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T20:40:16+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\/33.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\/egypt-stands-with-ukraine-in-voting-for-a-un-resolution-condemning-russias-war\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-stands-with-ukraine-in-voting-for-a-un-resolution-condemning-russias-war\/\",\"name\":\"Egypt stands with Ukraine in voting for a UN resolution condemning Russia\u2019s war - 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