{"id":544489,"date":"2022-03-07T04:00:22","date_gmt":"2022-03-07T04:00:22","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=544489"},"modified":"2025-12-15T20:41:30","modified_gmt":"2025-12-15T20:41:30","slug":"rising-wheat-and-oil-prices-will-hit-egypts-budget-ministers-say","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/rising-wheat-and-oil-prices-will-hit-egypts-budget-ministers-say\/","title":{"rendered":"Rising wheat and oil prices will hit Egypt\u2019s budget, ministers say"},"content":{"rendered":"<section id=\"544491\" 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=\"544491\">\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\/07\/this-morning-us-floats-russia-oil-ban-oil-market-freaks-out\/\">\r\n                            THIS MORNING: US floats Russia oil ban; Oil market freaks out                        <\/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\/07\/this-morning-us-floats-russia-oil-ban-oil-market-freaks-out\/\" 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\/07\/this-morning-us-floats-russia-oil-ban-oil-market-freaks-out\/')\">\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\/07\/this-morning-us-floats-russia-oil-ban-oil-market-freaks-out\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=THIS MORNING: US floats Russia oil ban; Oil market freaks out&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/this-morning-us-floats-russia-oil-ban-oil-market-freaks-out\/\">\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\/07\/this-morning-us-floats-russia-oil-ban-oil-market-freaks-out\/&title=THIS MORNING: US floats Russia oil ban; Oil market freaks out\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=THIS+MORNING%3A+US+floats+Russia+oil+ban%3B+Oil+market+freaks+out+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F07%2Fthis-morning-us-floats-russia-oil-ban-oil-market-freaks-out%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\/07\/this-morning-us-floats-russia-oil-ban-oil-market-freaks-out\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544491\" class=\"content-area-description single-story post-544491 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-acwa-power tag-covid-19 tag-eetc tag-energy tag-enterpriseam tag-oil-and-gas tag-renewables tag-russia tag-ukraine tag-ukraine-conflict tag-vaccines tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Good morning, wonderful people. <\/strong>It\u2019s another packed issue today, with fallout from Russia\u2019s war in Ukraine still dominating the headlines here at home.<\/p><p><a id=\"tldr-story-02\" class=\"content-anchor\"><\/a> <strong>Remember that historic commodities shock we mentioned yesterday? Apparently not<\/strong> <strong>historic enough, according to the folks in Washington<\/strong>, who are now debating an oil + gas blockade on the world\u2019s second-largest producer.<\/p><p><strong>Brace:<\/strong> In the early hours of this morning Brent crude surged to highs not seen since 2008 after US Secretary of State Anthony Blinken announced that Washington is in \u201c<a href=\"https:\/\/www.state.gov\/secretary-antony-j-blinken-on-cnn-state-of-the-union-with-jake-tapper\/\">very active<\/a><a href=\"https:\/\/www.state.gov\/secretary-antony-j-blinken-on-cnn-state-of-the-union-with-jake-tapper\/\">discussions<\/a>\u201d with allies about implementing an embargo on Russian oil and gas in retaliation for its military campaign in Ukraine. The move may have <a href=\"https:\/\/twitter.com\/kylegriffin1\/status\/1500647583072817152\">support in Congress<\/a>. The markets reacted as you\u2019d expect: The cost per barrel spiked 18% to briefly hit USD 139 when the market opened. It has since retreated to USD 129.1 (+9.2%) as of dispatch time.<\/p><p><strong>Are they serious?<\/strong> Until now, the idea of banning Russian oil has (for good reason) been off the table. Moscow supplies 17% of the world\u2019s gas and 12% of its oil into an already-tight market reeling from the conflict as well as post-covid demand adjustments. Shutting off Russian hydrocarbons would be tantamount to seppuku for the energy-stricken EU, which sources some 40% of its gas from Russia. The inflationary blowback on the US and the UK, both of which are already facing soaring energy costs, would also be severe. The move is particularly tricky for Biden, who is facing growing criticism at home over his administration\u2019s handling of fuel prices which are now at their <a href=\"https:\/\/www.reuters.com\/business\/energy\/us-gasoline-prices-soar-highest-since-2008-russia-conflict-aaa-2022-03-06\/\">highest level since 2008<\/a>.<\/p><p><strong>And: We hope Western policymakers are cognizant of a world outside of Russia.<\/strong> The war is already causing shockwaves in the developing world, with food, raw materials and energy prices already at levels not seen in decades. The IMF last week <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a2e2cd42-a6e8-4fb9-9bee-f48abae3ffec\">warned<\/a> that the war and subsequent sanctions on Russia will have a \u201csevere impact\u201d on the global economy, and that was before Blinken floated the potential oil ban.<\/p><p><strong>The stock markets are reacting with similar shock: Asian markets are deep in the red this <\/strong><strong>morning<\/strong> with the Hang Seng suffering the heaviest losses (-3.6% as of dispatch time). Things don\u2019t look any better for Europe and the US where stock futures are a sea of red.<\/p><p><strong>*** HATS OFF THIS MORNING to Mohamed Maait, Ali El Moselhy and Tarek El Molla.<\/strong> The three ministers have been on point for more than a week now, and their transparency about how the government is managing rising prices of oil and wheat (as well as the logistics of a tricky global grain market) is refreshing. Once upon a time, we would have been burying our collective head in the sand instead of admitting that what\u2019s happening now is a challenge to navigate \u2014 let alone explaining impact and strategy in public.<\/p><p><strong>SIGN OF THE TIMES #1- Vulture funds are starting to snap up Ukrainian and Russian <\/strong><strong>debt<\/strong>, the <a href=\"https:\/\/www.wsj.com\/articles\/investors-start-buying-ukraine-russia-bonds-11646568002\">Wall Street Journal<\/a> reports in what it\u2019s billing as an exclusive. You know it was just a matter of time\u2026<\/p><p><strong>SIGN OF THE TIMES #2- Moscow\u2019s loss is Dubai\u2019s gain. <\/strong>Goldman Sachs is <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-06\/some-goldman-sachs-employees-moving-out-of-russia-to-dubai\">moving staff out<\/a><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-06\/some-goldman-sachs-employees-moving-out-of-russia-to-dubai\">of Russia to Dubai<\/a>, which serves as the bulge bracket stalwart\u2019s hub in our neck of the woods.<\/p><p><strong>^^ We have more on how the war is impacting Egypt<\/strong> in this morning\u2019s news well, below,<\/p><p><strong>WHAT\u2019S HAPPENING TODAY- <\/strong><\/p><p><strong>PSA #1- You can now get your second covid vaccine or booster shot at any <\/strong><strong>vaccination center, <\/strong>according to <a href=\"https:\/\/www.facebook.com\/photo.php?fbid=284262647218290&amp;set=a.113299807647909&amp;type=3\">new rules<\/a> announced by the Health Ministry yesterday.<\/p><p><strong>There\u2019s one caveat:<\/strong> You can get it anywhere only if you haven\u2019t received a text message directing you to a specific location. Adults over 65 can get their booster three months after their second dose, while those under 65 should wait six months before getting it. Anyone who got the Johnson &amp; Johnson shot can get the booster two months later.<\/p><p><strong>PSA #2- The sandstorm has passed, but winter has not,<\/strong> Mahmoud Shaheen, a senior official at the Egyptian Meteorological Authority (EMA), told Kelma Akhira\u2019s Lamees El Hadidi (<a href=\"https:\/\/youtu.be\/imP5zyvSwDQ\">watch, runtime 2:10<\/a>). Don\u2019t put on your summer clothes just yet: colder weather \u2014 by our Egyptian standards \u2014 is expected to last until March 21st, said Shaheen. We will see daytime highs of 21-22\u00b0C in the capital city and overnight lows of around 10-12\u00b0C through Thursday, according to the <a href=\"https:\/\/ent.news\/2022\/3\/Weather-until-March-10.pdf\">EMA (pdf).<\/a> Our favourite weather app thinks it will be a bit warmer than that, but it\u2019s a close call.<\/p><p><strong>LATER THIS MONTH-<\/strong><\/p><p><strong>The Egyptian Electricity Transmission Company will this month sign a power <\/strong><strong>purchase agreement for <\/strong><strong>1.1 GW<\/strong><strong> of wind projects <\/strong>with Saudi renewables company ACWA Power, <a href=\"https:\/\/alborsaanews.com\/2022\/03\/06\/1516924\">Al Borsa<\/a> reported yesterday, citing sources it claims have knowledge of the matter. The plants will cost more than USD 1.2 bn to implement, the sources claimed.<\/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>ANALYST NOTE OF THE WEEK- <\/strong>Check out <a href=\"https:\/\/twitter.com\/RobinWigg\/status\/1500059906568826882\/photo\/1\">this doozy<\/a>, courtesy of BCA Research, which should raise a smirk even as it casually assigns a 10% chance of nuclear war. \u201cIf an ICBM is heading your way, the size and composition of your portfolio becomes irrelevant \u2026 The risk of Armageddon has risen dramatically. Stay bullish on stocks over a 12-month horizon.\u201d<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>US Deputy Secretary of State Wendy Sherman will be in town this Thursday and Friday<\/strong>, the State Department said in <a href=\"https:\/\/www.state.gov\/deputy-secretary-shermans-travel-to-turkey-spain-morocco-algeria-and-egypt\/\">a statement<\/a> on Thursday. Sherman will meet with Foreign Minister Sameh Shoukry and \u201cother senior officials,\u201d including National Council for Human Rights chief Moushira Khattab.<\/p><p><strong>Contemporary art and culture center <\/strong><strong><a href=\"https:\/\/www.facebook.com\/3031ArtFest\/\">Darb1718<\/a><\/strong><strong> is hosting its <\/strong><strong><a href=\"https:\/\/collardtickets.com\/event\/3031-art-festival\/?s=1\">3031 Art Festival<\/a><\/strong> 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 1pm\u20139:30pm on weekends and weekdays from 4pm\u20131pm.<\/p><p><strong>Other news triggers to keep your eye on<\/strong> over the next few weeks:<\/p><ul>\n<li><strong>Inflation:<\/strong> Inflation figures for February will be released on Thursday, 10 March.<\/li>\n<li><strong>Interest rates:<\/strong> The Central Bank of Egypt (CBE) will hold its <a href=\"https:\/\/www.cbe.org.eg\/en\/MonetaryPolicy\/Pages\/MPCMeetingSchedule.aspx\">next monetary policy meeting<\/a> on Thursday, 24 March.<\/li>\n<\/ul><p><strong>The <\/strong><strong><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/351220690381691\">Ahlan Ramadan<\/a><\/strong><strong> supermarket expo will take place from 24 March to 1 April<\/strong> at the Cairo International Convention Center.<\/p><p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/CIRA-Blackboard-Banner-B.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. Blackboard appears every Monday in Enterprise in the place of our traditional industry news roundups.<\/p><p><strong>In today\u2019s issue:<\/strong> YouTube has become the go-to edutainment platform for many, serving up mns of hours of online learning without charge. But the sheer amount of information (and misinformation) means it\u2019s more important than ever to pick your sources wisely. To help orient you on your quest for online wisdom, we present our roundup of some of the most interesting and factually rigorous channels out there right now.<\/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\/acwa-power\/\">ACWA Power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eetc\/\">EETC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/ukraine-conflict\/\">Ukraine conflict<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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=\"544492\" 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=\"544492\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/544492\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544492\" class=\"content-area-description single-story post-544492 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/somabay.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/soma-hotels1600pxjpg.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n<p>Experience luxury in every thoughtful detail where prestige hospitality is rediscovered with genuine warmth and passion. Awaken forgotten desires and build unforgettable memories to fuel a lifetime of inspiration. Spend your winter break at Somabay with special rates and choose among five different hotels at one destination. Visit: www.Somabay.com\/hotels\/<\/p>\n\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=\"544493\" 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=\"544493\">\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\">Commodities<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/rising-wheat-and-oil-prices-will-hit-budget-in-egypt-ministers-say\/\">\r\n                            Rising wheat and oil prices will hit budget in Egypt, ministers say                        <\/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\/07\/rising-wheat-and-oil-prices-will-hit-budget-in-egypt-ministers-say\/\" 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 ministry assumed an average price of USD 255 per ton in this year\u2019s budget but the state is now paying USD 350, Supply Minister Ali Moselhy <a href=\"https:\/\/bit.ly\/3sKPiSw\">said last week<\/a>.<\/p>\n<p><strong>Wheat prices have surged to new heights since the end of February when Russia <\/strong><strong>invaded Ukraine:<\/strong> Russia and Ukraine supply around a quarter of the world\u2019s wheat but the conflict has all but removed their production from the global market.<\/p>\n<p><strong>The two countries accounted for <\/strong><strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-02\/war-choking-off-wheat-leaves-middle-east-buyers-most-vulnerable?sref=mmeFTDW1\">86% of Egypt\u2019s imports<\/a><\/strong><strong> in 2020. <\/strong>Egypt is the world\u2019s largest importer of wheat and last year purchased <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/00c7971f-5639-4f29-a2a8-3953167f20be\">11.6 mn tons<\/a>, 4.7 mn of which were bought by state grains buyer GASC.<\/p>\n<p><strong>Prices were a problem even before the war in Ukraine broke out<\/strong>, with Maait saying last month that the recent rise in global wheat prices would cost us an additional <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/30bc9b32-0682-476e-b93c-cd733864721d\">EGP 12 bn<\/a> this year. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7ed46039-3d92-4d6c-acc9-0261343b42c2\">UN figures released Saturday<\/a> showed that global food prices hit record highs in February, before Russia launched military action at the end of the month.<\/p>\n<p><strong>The global grain market is messy right now:<\/strong> GASC has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/16670d8f-ff7e-4942-8c23-7f16a463f32f\">canceled two<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/16670d8f-ff7e-4942-8c23-7f16a463f32f\"><\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/16670d8f-ff7e-4942-8c23-7f16a463f32f\">tenders<\/a> since the beginning of the war due to high prices and a lack of bids while another two cargoes are currently <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7ed46039-3d92-4d6c-acc9-0261343b42c2\">stuck in Ukraine<\/a>. Egypt\u2019s 4.5-month stockpile and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/74c0dedf-7743-40b0-8037-9a3fd5e235d1\">a bigger domestic harvest<\/a> mean there are no imminent shortages on the horizon, and Egypt has signaled it may relax requirements as it looks at other potential suppliers <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7ed46039-3d92-4d6c-acc9-0261343b42c2\">including the US, Romania and Kazakhstan<\/a>. And Ukraine is now saying that it could start <a href=\"https:\/\/www.reuters.com\/world\/europe\/ukrainian-railways-ready-boost-grain-exports-by-train-2022-03-06\/?taid=6224f0ca18c5730001d4d956&utm_campaign=trueAnthem:+Trending+Content&utm_medium=trueAnthem&utm_source=twitter\">shipping grain by rail<\/a> to Romania, Poland, Hungary and Slovakia.<\/p>\n<p><strong>Expect talk of bread subsidies to increase:<\/strong> The Finance Ministry allocated almost EGP 50 bn to bread subsidies in FY 2021-2022 but with prices having risen 37% above budgeted forecasts the government is facing a sizable increase to its subsidy spend. President Abdel Fattah El Sisi <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cff5080b-b5e6-4d57-8920-c15466348892\">first mentioned the possibility<\/a> of a subsidy taper last year, and the Supply Ministry is expected to announce a plan <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/217bd2c8-c468-4975-b723-ba0e372c9b2c\">by the end of March<\/a>.<\/p>\n<p><strong>Lifting bread subsidies will likely push Egypt\u2019s inflation rate to 12%<\/strong>, Al Ahly Pharos\u2019 head of research Radwa El Swaify told <a href=\"https:\/\/bit.ly\/35WD7Ji\">Al Arabiya<\/a>. On the current trajectory, consumer price growth will reach 9% by 3Q2022 but moves by the government to raise bread prices will push inflation past the central bank\u2019s 7% (\u00b12%) target range, she said. Annual urban inflation rose to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7914e5e9-10b5-4166-b35f-232741c164aa\">7.3% in January<\/a>, its highest level in almost two and a half years.<\/p>\n<p><strong>The longer the war, the greater the challenges: <\/strong>Ukraine\u2019s summer harvest could be threatened if the war drags on, pressuring prices further, the <a href=\"https:\/\/www.ft.com\/content\/457ba29e-f29b-4677-b69e-a6e5b973cad6\">Financial Times<\/a> says.<\/p>\n<p><strong>The uncertainty is exacerbating the price crunch:<\/strong> \u201cThe market is worried that this is not a problem that\u2019s going to be solved any time soon,\u201d an Agricensus editor said. The salmon-colored paper notes that Egypt, Lebanon, Libya and Syria are among the countries that have historically had a very high appetite for Ukrainian wheat.<\/p>\n<hr class=\"grey-line\">\n<p><strong>ON THE OIL BEAT-<\/strong><\/p>\n<p><strong>Egypt is \u201cnegatively affected\u201d by soaring oil prices in the global market<\/strong>, Oil Minister Tarek El Molla yesterday told Sky News Arabia (<a href=\"https:\/\/bit.ly\/3tvljxm\">watch, runtime: 1:18)<\/a>. As a net importer of crude oil and petroleum derivatives, daily changes in oil prices \u201care not in Egypt\u2019s interest,\u201d El Molla said.<\/p>\n<p><strong>Brent is now almost double the price forecast in the state budget: <\/strong>Oil prices have spiraled as the war in Ukraine effectively blocks key Russian supply to markets, with Brent crude closing at 118.11 last week \u2014 more than 22% higher than before the war broke out on 24 February, and almost double the USD 60 benchmark used for the FY 2021-2022 budget. Finance Minister Mohamed Maait <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7ed46039-3d92-4d6c-acc9-0261343b42c2\">acknowledged<\/a> the situation last week, telling Al Masry Al Youm that the surge in oil prices is not \u201cgood news\u201d for the economy, and pointing out that Egypt currently imports more than 120 mn barrels of crude a year.<\/p>\n<p><strong>Wartime gas hub:<\/strong> Natural gas prices have spiraled to new record highs in Europe in response to the conflict, potentially providing an opportunity for Egypt to offset some of the pain caused by the oil price spike. \u201cWe can take advantage of this period\u201d when energy prices are high to maximize LNG exports, El Molla said. \u201cWe hope that gas exports will compensate for part of the cost of importing oil and petroleum products,\u201d he said.<\/p>\n<p><strong>The Oil Ministry has been working to <\/strong><strong><a href=\"https:\/\/enterprise.press\/hardhats\/infrastructure-whats-come-2022\/\">increase<\/a><\/strong><strong> the amount of gas it imports from Israel for <\/strong><strong>re-export to Europe<\/strong>, which is in search of alternative suppliers to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3606e9c7-127e-43d4-b6f9-ece94d1f63b0\">decrease its reliance<\/a> on Russian gas. That said, it\u2019s not clear if we <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b05357d8-d636-4372-a069-cf77d948b1e7\">currently have capacity<\/a> to up shipments, while Europe doesn\u2019t have the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9116ce66-29a8-46af-a031-9619f15bfa0f\">room needed<\/a> at import terminals to significantly increase LNG imports.<\/p>\n<p><strong>NOT HELPING MATTERS-<\/strong><\/p>\n<ul>\n<li><strong>Libya\u2019s oil output has dropped to 920k barrels\/day<\/strong> \u2014 down from the 1.2 mn barrels\/day it recorded last week \u2014 as political instability causes further disruption to the country\u2019s already embattled oil sector, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-06\/four-of-libya-s-shuttered-oil-ports-are-resuming-operations?sref=mmeFTDW1\">Bloomberg reports<\/a>.<br \/> <strong>The potential return of Iranian oil to global markets is set for further delays, <\/strong>after fresh Russian demands derailed efforts to restore the Iran-US nuclear agreement, which would remove sanctions on Iran and bring back its crude supplies to the world, <a href=\"https:\/\/www.reuters.com\/business\/energy\/oil-price-set-surge-further-iranian-talks-delays-2022-03-06\/\">Reuters<\/a> reports.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gasc\/\">GASC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-maait\/\">Mohamed Maait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/tarek-el-molla\/\">Tarek El Molla<\/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\/ukraine-conflict\/\">Ukraine conflict<\/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 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=\"544495\" 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=\"544495\">\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\">WAR WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/only-ukraines-surrender-will-end-the-fighting-says-putin\/\">\r\n                            Only Ukraine\u2019s surrender will end the fighting, says Putin                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/only-ukraines-surrender-will-end-the-fighting-says-putin\/&title=Only Ukraine\u2019s surrender will end the fighting, says Putin\">\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=Only+Ukraine%E2%80%99s+surrender+will+end+the+fighting%2C+says+Putin+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F07%2Fonly-ukraines-surrender-will-end-the-fighting-says-putin%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\/07\/only-ukraines-surrender-will-end-the-fighting-says-putin\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/76.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"544496\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/only-ukraines-surrender-will-end-the-fighting-says-putin\/76-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/76.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"76.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/76.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/76.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544495\" class=\"content-area-description single-story post-544495 post type-post status-publish format-standard has-post-thumbnail hentry category-war-watch tag-enterpriseam tag-media tag-russia tag-ukraine tag-ukraine-conflict tag-war-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Russia will only agree to a ceasefire if Ukraine lays down its weapons and<\/strong> <strong>meets Moscow\u2019s demands<\/strong>, Russian President Vladimir Putin said yesterday, according to <a href=\"https:\/\/www.reuters.com\/world\/europe\/top-wrap-1-ukrainian-refugees-near-15-million-russian-assault-enters-11th-day-2022-03-06\/\">Reuters<\/a> and the <a href=\"https:\/\/apnews.com\/article\/russia-ukraine-vladimir-putin-kyiv-europe-1f3dc134dc6f8c5214cfc723d37fd56a\">Associated Press<\/a>. During a call with Turkish President Recep Tayyip Erdogan, Putin said that the conflict will end only when Kyiv \u201cstops military operations and carries out well-known Russian demands,\u201d the Kremlin said in a readout of the call. Putin\u2019s publicly stated aims for the conflict are to \u201c<a href=\"https:\/\/tass.com\/politics\/1409189\">demilitarize and denazify<\/a>\u201d the country.<\/p>\n<p><strong>Peace talks?<\/strong> A third round of peace talks between Russia and Ukraine were <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a97d13a8-dea0-4f5f-87ed-5019e1110cea\">slated to take<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a97d13a8-dea0-4f5f-87ed-5019e1110cea\"><\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a97d13a8-dea0-4f5f-87ed-5019e1110cea\">place today<\/a>, but there has been no confirmation over the past 24 hours that they will go ahead.<\/p>\n<p><strong>ON THE GROUND-<\/strong><\/p>\n<ul>\n<li><strong>Efforts to evacuate 200k people from the besieged Ukrainian city of Mariupol failed for the second day<\/strong>, as Russian shelling continued, the newswires said,<\/li>\n<li>Some <strong>1.5 mn people have now fled<\/strong> to neighboring countries as a result of the conflict, the UN Refugee Agency <a href=\"https:\/\/twitter.com\/Refugees\/status\/1500420010195492864\">said<\/a> yesterday.<\/li>\n<li>A total of <strong>364 civilians<\/strong> have been killed, including 25 children, since the fighting began 11 days ago, according to the <a href=\"https:\/\/news.un.org\/en\/story\/2022\/03\/1113372\">UN<\/a>. <\/li>\n<\/ul>\n<hr class=\"grey-line\">\n<p><strong>EGYPTIANS IN UKRAINE- More Egyptians coming home:<\/strong> A flight from Slovakia carrying Egyptian expats who escaped Ukraine will be flying to Cairo \u201cin the coming days,\u201d the Egyptian Embassy in Kyiv said <a href=\"https:\/\/www.facebook.com\/Egyptinkiev\/posts\/331044879069568\">yesterday.<\/a> Some 6k Egyptians had been living in Ukraine before the war broke out, including almost 4k students whose evacuation is being prioritized.<\/p>\n<p><strong>Around 70% of Egyptian expats have been evacuated from Ukraine to neighboring<\/strong> <strong>countries so far<\/strong>, Ali Farouk, head of the Egyptian community in Ukraine, told Al Hayah Al Youm last night (<a href=\"https:\/\/www.youtube.com\/watch?v=OXuzsrCCb4M\">watch, runtime 9:07<\/a>). \u201cWe have to choose between evacuation or death,\u201d he said, adding that two buses transporting Egyptians were due to move shortly from Ukrainian cities towards the Slovakian and Romanian borders.<\/p>\n<hr class=\"grey-line\">\n<p><strong>IRON FIREWALL- Russia and western nations are censoring and shutting down each<\/strong> <strong>other's media outlets<\/strong> in a bid to control the online infowar. A new law that criminalizes \u201cfake news\u201d in Russia led the BBC, CNN, Bloomberg and others to <a href=\"https:\/\/www.dailymail.co.uk\/news\/article-10579867\/CNN-ABC-CBS-BBC-CBC-Bloomberg-stop-broadcasting-Russia-fake-news-law-comes-in.html\">shutter their operations<\/a> in the country while US social media companies such as Facebook and Twitter <a href=\"https:\/\/www.theguardian.com\/world\/2022\/mar\/04\/russia-completely-blocks-access-to-facebook-and-twitter\">are now blocked<\/a>. In the West, Russian state media RT and Sputnik <a href=\"https:\/\/www.politico.eu\/article\/facebook-parent-company-restricts-eu-access-to-russia-rt-sputnik\/\">have been censored<\/a> by social media firms and <a href=\"https:\/\/www.reuters.com\/world\/europe\/eu-bans-rt-sputnik-banned-over-ukraine-disinformation-2022-03-02\/\">banned by the EU<\/a>.<\/p>\n<p><strong>US and European companies are continuing to abandon Russia<\/strong> as western governments pile on the economic pressure. The latest:<\/p>\n<ul>\n<li><strong>American Express announced the <\/strong><strong><a href=\"https:\/\/about.americanexpress.com\/all-news\/news-details\/2022\/American-Express-Suspends-Operations-in-Russia-and-Belarus\/default.aspx\">suspension<\/a><\/strong><strong> of all operations in Russia<\/strong>, following similar decisions by <a href=\"https:\/\/www.nytimes.com\/2022\/03\/05\/world\/europe\/mastercard-visa-suspend-operations-russia.html\">Visa, Mastercard<\/a> and <a href=\"https:\/\/www.theverge.com\/2022\/3\/5\/22962848\/paypal-pauses-service-russia-ukraine-invasion\">PayPal<\/a>.<\/li>\n<li><strong>UPS and FedEx have stopped deliveries<\/strong> to Russia and Ukraine.<\/li>\n<li><strong>Netflix <\/strong>has<a href=\"https:\/\/www.reuters.com\/business\/media-telecom\/netflix-suspends-service-russia-report-2022-03-06\/\">suspended<\/a> operations in Russia.<\/li>\n<li><strong>TikTok <\/strong>is <a href=\"https:\/\/www.bbc.co.uk\/news\/business-60641988\">no longer allowing<\/a> Russian users to live stream or upload new content.<\/li>\n<li>Accounting giants <strong>PwC<\/strong> and <strong>KPMG<\/strong> are <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-06\/pwc-set-to-announce-departure-from-russia-over-ukraine-war?sref=mmeFTDW1\">shuttering their businesses<\/a> in Russia.<\/li>\n<li><strong>Russia's second-largest financial institution VTB Bank is reportedly <\/strong><strong><a href=\"https:\/\/www.ft.com\/content\/27adf446-517a-4c4b-89e8-dee8757252e9\">preparing to pull out of Europe<\/a><\/strong> after being hit hard by Western sanctions. The move follows a similar decision by Russia\u2019s biggest lender Sberbank, which announced last week it plans to <a href=\"https:\/\/www.reuters.com\/business\/finance\/russias-sberbank-leave-european-market-face-cash-outflows-2022-03-02\/\">sell off or wind down<\/a> all its EU operations.<\/li>\n<\/ul>\n<hr class=\"grey-line\">\n<p><strong>SHADES OF 1998- Russia is edging closer to defaulting on its debts<\/strong> as western sanctions hammer its economy and the country\u2019s central bank bans payments to foreign bondholders to shore up its currency. A decree signed by Putin yesterday allows the government and companies to skirt capital controls by <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-05\/putin-seeks-to-avert-defaults-with-ruble-payments-to-creditors?sref=mmeFTDW1\">using RUB to pay off foreign-currency debts<\/a> though the jury is out on whether this is going to help matters. Apart from the fact that both of Europe\u2019s central securities depositories have banned the use of the RUB for settlement, we\u2019ll hand out Enterprise mugs to anyone who can find us an investor who\u2019d want to be paid in RUB right now.<\/p>\n<p><strong>There\u2019s confusion over whether the government has defaulted already<\/strong> after it kind of paid but sort of not paid foreign bondholders by last week\u2019s due date. We\u2019ll let you parse through the details on Bloomberg <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-05\/putin-seeks-to-avert-defaults-with-ruble-payments-to-creditors?sref=mmeFTDW1\">here<\/a> and <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-04\/foreign-holders-of-russian-bonds-haven-t-received-march-2-coupon?sref=mmeFTDW1\">here<\/a>.<\/p>\n<p><strong>Either way, Russia\u2019s credit rating is only heading in one direction: <\/strong>Moody\u2019s has cut Russia\u2019s rating deeper into junk territory, downgrading it to Ca from B3 with a negative outlook, less than a week after the ratings agency took away Russia\u2019s investment-grade rating. The downgrade was \u201cdriven by severe concerns around Russia\u2019s willingness and ability to pay its debt obligations,\u201d Moody\u2019s said in <a href=\"https:\/\/www.moodys.com\/research\/Moodys-downgrades-Russias-ratings-to-Ca-from-B3-the-outlook--PR_463675\">a statement<\/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\/media\/\">media<\/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\/ukraine-conflict\/\">Ukraine conflict<\/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=\"544497\" 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=\"544497\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/real-estate-brokers-face-new-prospect-of-regulation\/\">\r\n                            Real estate brokers face new prospect of regulation                        <\/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\/07\/real-estate-brokers-face-new-prospect-of-regulation\/\" 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\/07\/real-estate-brokers-face-new-prospect-of-regulation\/')\">\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\/07\/real-estate-brokers-face-new-prospect-of-regulation\/\">\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=Real estate brokers face new prospect of regulation&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/real-estate-brokers-face-new-prospect-of-regulation\/\">\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\/07\/real-estate-brokers-face-new-prospect-of-regulation\/&title=Real estate brokers face new prospect of regulation\">\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=Real+estate+brokers+face+new+prospect+of+regulation+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F07%2Freal-estate-brokers-face-new-prospect-of-regulation%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\/07\/real-estate-brokers-face-new-prospect-of-regulation\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/77.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"544498\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/real-estate-brokers-face-new-prospect-of-regulation\/77-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/77.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"77.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/77.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/77.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544497\" class=\"content-area-description single-story post-544497 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-enterpriseam tag-house-of-representatives tag-legislation-watch tag-real-estate tag-sea-ships 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>Real estate brokers could soon face regulatory scrutiny<\/strong> after the House of Representatives approved in principle amendments to the law regulating commercial and real estate brokerage, <a href=\"https:\/\/alborsaanews.com\/2022\/03\/06\/1516826\">Al Borsa<\/a> reported yesterday. The changes would see an electronic registry set up for licensed brokers, set rules for their activities, regulate the fees they charge (and how those fees are collected) in a bid to bring into the light an industry that often flies below the radar of the formal economy.<\/p>\n<p><strong>The line from the domestic press: <\/strong>The changes will help clamp down on fraud and money laundering. Lawmakers also say that the amendments will make it easier for authorities to hold to account any broker that misleads a client.<\/p>\n<p><strong>Brokers that violate the regulations could face penalties<\/strong> under the new amendments, which hopefully means less unwanted phone calls from simsars trying to sell you overpriced chalets in Sahel.<\/p>\n<p><strong>Licensing real estate agents isn\u2019t a new idea: <\/strong>Anyone who wants to work as a real estate broker in Canada or the United States needs to pass a licensing exam, though requirements vary by province and state.<\/p>\n<p><strong>ALSO IN THE HOUSE- <\/strong><\/p>\n<p><strong>MPs also gave the preliminary greenlight to amendments to the law regulating the safety of vessels at sea<\/strong>, <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=06032022&id=dd40149a-71b8-4cac-b4f7-a82574f41fa6\">Al Shorouk<\/a> reported yesterday. The changes will make it mandatory for ship owners to report the sale or rent of their units to the authorities, and will establish a mechanism that enables stronger oversight of actions taking place on board ships and vessels, in efforts to prevent illegal activities such as smuggling migrants.<\/p>\n<p><strong>Tough penalties to be imposed:<\/strong> Ship owners who violate the rules could face up to one year in prison and fines ranging between EGP 50k-500k.<\/p>\n<p><strong>Next steps<\/strong>: The amendments will head back to the House for a final vote, and if passed, will be handed to President Abdel Fattah El Sisi to be ratified into law.<\/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\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sea-ships\/\">sea ships<\/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=\"544499\" 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=\"544499\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/misr-italia-eyes-egp-700-mn-securitized-bond-sale-in-4q-2022\/\">\r\n                            Misr Italia eyes EGP 700 mn securitized bond sale in 4Q 2022                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/misr-italia-eyes-egp-700-mn-securitized-bond-sale-in-4q-2022\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/misr-italia-eyes-egp-700-mn-securitized-bond-sale-in-4q-2022\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/misr-italia-eyes-egp-700-mn-securitized-bond-sale-in-4q-2022\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Misr Italia eyes EGP 700 mn securitized bond sale in 4Q 2022&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/misr-italia-eyes-egp-700-mn-securitized-bond-sale-in-4q-2022\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/misr-italia-eyes-egp-700-mn-securitized-bond-sale-in-4q-2022\/&title=Misr Italia eyes EGP 700 mn securitized bond sale in 4Q 2022\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Misr+Italia+eyes+EGP+700+mn+securitized+bond+sale+in+4Q+2022+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F07%2Fmisr-italia-eyes-egp-700-mn-securitized-bond-sale-in-4q-2022%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/misr-italia-eyes-egp-700-mn-securitized-bond-sale-in-4q-2022\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/78.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"544500\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/misr-italia-eyes-egp-700-mn-securitized-bond-sale-in-4q-2022\/78-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/78.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"78.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/78.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/78.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544499\" class=\"content-area-description single-story post-544499 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt-watch tag-efg-hermes tag-enterpriseam tag-misr-italia-properties tag-securitization 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> Misr Italia Properties is looking to issue <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/32ba4863-0863-403d-85e7-9732b18499b6\">securitized bonds<\/a><\/strong><strong> worth EGP 700 mn<\/strong> <strong>during 4Q2022<\/strong>, <a href=\"https:\/\/bit.ly\/3pIQpQK\">Al Shorouk<\/a> quoted CEO and Managing Director Mohamed Hany El Assal as saying. The issuance would be the second tranche of the property developer\u2019s EGP 2.5 bn securitization program. The first <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/efbbdfcf-0c4c-4fe1-85ed-1b68623ff028\">EGP 794 mn tranche<\/a> closed late last month.<\/p>\n<p><strong>The company is also in talks with several banks for an EGP 1.2 bn loan<\/strong> alongside the securitization, El Assal reportedly said, adding that our friends at EFG Hermes is advising on both the potential loan and the securitization.<\/p>\n<p><strong>OTHER DEBT NEWS-<\/strong> Palm Hills Developments (PHD) is taking a EGP 3.25 bn sukuk issuance to market within the next three weeks, <a href=\"https:\/\/alborsaanews.com\/2022\/03\/06\/1516806\">Al Borsa<\/a> reported yesterday, after the company\u2019s board of directors gave its go-ahead <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/325dd244-d50f-4b80-9044-1eceaae2da41\">last week<\/a>. The sale, which would mark Egypt\u2019s first corporate sukuk of 2022, will finance the real estate developer\u2019s Badya project.<\/p>\n<p><strong>Advisors: <\/strong>The sale will be managed by Contact Financial Holdings\u2019 sukuk arm, and the company has appointed Banque Misr and its investment arm Misr Capital as underwriters and promoters for the issuance. Our friends at ALC Alieldean Weshahi & Partners are legal advisors, while KPMG Hazem Hassan is serving as auditor.<\/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\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/misr-italia-properties\/\">Misr Italia Properties<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/securitization\/\">securitization<\/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=\"544501\" 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=\"544501\">\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\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/fedex-express-not-considering-an-egx-ipo-for-its-egypt-unit\/\">\r\n                            FedEx Express not considering an EGX IPO for its Egypt unit                        <\/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\/07\/fedex-express-not-considering-an-egx-ipo-for-its-egypt-unit\/\" 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\/07\/fedex-express-not-considering-an-egx-ipo-for-its-egypt-unit\/')\">\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\/07\/fedex-express-not-considering-an-egx-ipo-for-its-egypt-unit\/\">\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=FedEx Express not considering an EGX IPO for its Egypt unit&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/fedex-express-not-considering-an-egx-ipo-for-its-egypt-unit\/\">\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\/07\/fedex-express-not-considering-an-egx-ipo-for-its-egypt-unit\/&title=FedEx Express not considering an EGX IPO for its Egypt unit\">\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=FedEx+Express+not+considering+an+EGX+IPO+for+its+Egypt+unit+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F07%2Ffedex-express-not-considering-an-egx-ipo-for-its-egypt-unit%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\/07\/fedex-express-not-considering-an-egx-ipo-for-its-egypt-unit\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544501\" class=\"content-area-description single-story post-544501 post type-post status-publish format-standard hentry category-ipo-watch tag-enterpriseam tag-fedex-express tag-ipo-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>FACT CHECK- FedEx Express is not currently considering an IPO of its Egypt unit <\/strong><strong>on the<\/strong> <strong>E<\/strong><strong>GX<\/strong>, a company spokesperson told Enterprise yesterday. An article published by <a href=\"https:\/\/bit.ly\/3HNvke6\">Al Shorouk<\/a> yesterday quoted the company\u2019s regional head for the Middle East, India and Africa, Jack Muhs, as saying the company was intending to IPO.<\/p>\n<p><strong>The shipping giant last week launched direct services in Egypt,<\/strong> having operated through its local agent Egypt Express for decades.<\/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\/fedex-express\/\">FedEx Express<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544502\" 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=\"544502\">\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\/07\/macro-groups-net-income-rose-10-in-2021\/\">\r\n                            Macro Group\u2019s net income rose 10% 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\/07\/macro-groups-net-income-rose-10-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\/07\/macro-groups-net-income-rose-10-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\/07\/macro-groups-net-income-rose-10-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=Macro Group\u2019s net income rose 10% in 2021&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/macro-groups-net-income-rose-10-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\/07\/macro-groups-net-income-rose-10-in-2021\/&title=Macro Group\u2019s net income rose 10% 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=Macro+Group%E2%80%99s+net+income+rose+10%25+in+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F07%2Fmacro-groups-net-income-rose-10-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\/07\/macro-groups-net-income-rose-10-in-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544502\" class=\"content-area-description single-story post-544502 post type-post status-publish format-standard hentry category-earnings-watch tag-earnings tag-earnings-watch tag-enterpriseam tag-ma-watch tag-macro-group tag-pharma wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a><strong> Macro Group saw its net income rise 10% y-o-y to EGP 148 mn in 2021<\/strong>, according to the company\u2019s <a href=\"https:\/\/ent.news\/2022\/3\/%D9%85%D8%A7%D9%83%D8%B1%D9%88-%D8%A8%D9%8A%D8%A7%D9%86-%D8%A7%D9%86%D8%AC%D9%84%D9%8A%D8%B2%D9%8A-06-03-2022.pdf\">maiden earnings release (pdf)<\/a>. Revenues grew 38% y-o-y to record EGP 594.3 mn last year. Macro made its EGP 1.3 bn <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/39055a56-7810-4807-a4f8-ad1347481f6f\">debut<\/a> on the EGX last month.<\/p>\n<p><strong>The breakdown: <\/strong>The company attributed the rise in revenues to a 23% uptick in average pricing, coupled with a 13% increase in sales volumes. One-time costs associated with the company\u2019s IPO stood at EGP 30.7 mn. \u201cRevenue growth was primarily a result of our ongoing strategy to improve our product mix by selling more high-value SKUs,\u201d said Chairman Ahmed Elnayeb.<\/p>\n<p><strong>Macro acquired <\/strong><strong>Genova Pharma Company<\/strong><strong> in November, <\/strong>Elnayeb wrote. The non-operational company holds registrations for 12 nutraceutical and cosmeceutical products. .<\/p>\n<p><strong>Macro is eyeing a second acquisition,<\/strong> Elnayeb added, without naming the target company or specifying a timeline. The company also plans to launch c. 60 new SKUs in the coming years and expand its presence in high-growth segments such as nutraceuticals and medical devices, while raising prices through direct price hikes, product face-lifts and rebranding.<\/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\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/macro-group\/\">Macro Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharma\/\">pharma<\/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=\"544503\" 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=\"544503\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/544503\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544503\" class=\"content-area-description single-story post-544503 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.sodic.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/V-editions-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\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=\"544504\" 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=\"544504\">\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\/07\/last-nights-talk-shows-cbe-could-raise-rates-this-month-in-response-to-ukraine-crisis-arqaam\/\">\r\n                            Last Night\u2019s Talk Shows: CBE could raise rates this month in response to Ukraine crisis -Arqaam                        <\/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\/07\/last-nights-talk-shows-cbe-could-raise-rates-this-month-in-response-to-ukraine-crisis-arqaam\/\" 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\/07\/last-nights-talk-shows-cbe-could-raise-rates-this-month-in-response-to-ukraine-crisis-arqaam\/')\">\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\/07\/last-nights-talk-shows-cbe-could-raise-rates-this-month-in-response-to-ukraine-crisis-arqaam\/\">\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: CBE could raise rates this month in response to Ukraine crisis -Arqaam&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/last-nights-talk-shows-cbe-could-raise-rates-this-month-in-response-to-ukraine-crisis-arqaam\/\">\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\/07\/last-nights-talk-shows-cbe-could-raise-rates-this-month-in-response-to-ukraine-crisis-arqaam\/&title=Last Night\u2019s Talk Shows: CBE could raise rates this month in response to Ukraine crisis -Arqaam\">\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+CBE+could+raise+rates+this+month+in+response+to+Ukraine+crisis+-Arqaam+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F07%2Flast-nights-talk-shows-cbe-could-raise-rates-this-month-in-response-to-ukraine-crisis-arqaam%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\/07\/last-nights-talk-shows-cbe-could-raise-rates-this-month-in-response-to-ukraine-crisis-arqaam\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544504\" class=\"content-area-description single-story post-544504 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-arqaam-capital tag-commodities tag-education tag-enterpriseam tag-inflation tag-interest-rates tag-last-nights-talk-shows tag-tarek-shawki tag-thanaweya-amma tag-ukraine-conflict tag-war 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>Will the Central Bank of Egypt raise interest rates to combat higher prices fuelled <\/strong><strong>by the Ukraine war?<\/strong> Noaman Khalid, associate director at Arqaam Capital, thinks so. A rise in interest rates in the CBE\u2019s upcoming monetary policy committee meeting later this month is \u201ca very big possibility,\u201d he said during a phone-in with Kelma Akhira\u2019s Lamees El Hadidi (<a href=\"https:\/\/www.youtube.com\/watch?v=EYtWXgj-7HM\">watch, runtime 5:21<\/a>). With the war\u2019s economic consequences now expected to last more than just a few weeks, the CBE could raise interest rates \u201cin efforts to contain local inflation imported from abroad,\u201d Khalid said. <strong>The CBE will meet to review interest rates on 24 March.<\/strong><\/p>\n<p><strong>Other analysts have flagged a 2022 hike, but this is by far the earliest call:<\/strong> A number of analysts told us in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a4f0876c-b382-42d3-897f-9972a2721bed\">our most recent interest rate poll<\/a> that they expect the CBE to tighten policy later in the year in response to rising inflation and higher global rates. The folks at the central bank have left rates unchanged in recent months despite forecasts for higher prices and a tighter policy environment.<\/p>\n<p><strong>The surging cost of oil and goods took center stage on our airwaves last night<\/strong>, with the talking heads discussing reasons behind global price increases and their ramifications on Egyptian markets, including: Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=q9X1DZj9kbw\">watch, runtime 35:41<\/a> | <a href=\"https:\/\/www.youtube.com\/watch?v=kVrPtK6GVzE\">4:04<\/a>), El Hekaya <a href=\"https:\/\/www.youtube.com\/watch?v=LSICuj1kEVk\">(watch, runtime 4:41<\/a>), and Kelma Akhira (<a href=\"https:\/\/www.youtube.com\/watch?v=QmuCwfPW6ec\">watch, runtime 7:57<\/a>).<\/p>\n<p><strong>And in non-war news: Our old Thanaweya Amma system is history<\/strong>, Education Minister Tarek Shawki told El Hekaya\u2019s Amr Adib in a phone-in last night (<a href=\"https:\/\/www.youtube.com\/watch?v=CW_qd39K7PY\">watch, runtime 4:00<\/a>), responding to rumors that the old system was about to make a comeback. The old high school testing system measured the students\u2019 memorizing skills, while the new tests measure students\u2019 levels of understanding, he said.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/arqaam-capital\/\">Arqaam Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tarek-shawki\/\">Tarek Shawki<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/thanaweya-amma\/\">Thanaweya Amma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ukraine-conflict\/\">Ukraine conflict<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544505\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n        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<\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544506\" 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=\"544506\">\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\/07\/first-female-judge-sits-on-the-council-of-state\/\">\r\n                            First female judge sits on the Council of State                        <\/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\/07\/first-female-judge-sits-on-the-council-of-state\/\" 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\/07\/first-female-judge-sits-on-the-council-of-state\/')\">\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\/07\/first-female-judge-sits-on-the-council-of-state\/\">\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=First female judge sits on the Council of State&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/first-female-judge-sits-on-the-council-of-state\/\">\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\/07\/first-female-judge-sits-on-the-council-of-state\/&title=First female judge sits on the Council of State\">\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=First+female+judge+sits+on+the+Council+of+State+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F07%2Ffirst-female-judge-sits-on-the-council-of-state%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\/07\/first-female-judge-sits-on-the-council-of-state\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544506\" class=\"content-area-description single-story post-544506 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-council-of-state tag-enterpriseam tag-law tag-radwa-helmy wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Judge Radwa Helmy on Saturday became Egypt\u2019s first female judge to sit on the <\/strong><strong>bench of Egypt\u2019s Council of State (Maglis El Dawla)<\/strong>, marking a \u201chistoric step\u201d for gender equality, <a href=\"https:\/\/www.theguardian.com\/world\/2022\/mar\/05\/first-female-judge-presides-over-hearing-at-top-court-in-egypt\">AFP<\/a> reports. The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cb24906d-ae4c-4bbe-b0d1-3ea0a79c0749\">98 women judges<\/a> appointed to the Council officially <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0354e25e-01e9-4991-89cf-4a054d82a49b\">assumed their positions<\/a> this week.<\/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\/law\/\">law<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/radwa-helmy\/\">Radwa Helmy<\/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=\"544507\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544508\" 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=\"544508\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/egypts-banks-processed-1-bn-electronic-transactions-in-2021\/\">\r\n                            Egypt\u2019s banks processed 1 bn electronic transactions 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\/07\/egypts-banks-processed-1-bn-electronic-transactions-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\/07\/egypts-banks-processed-1-bn-electronic-transactions-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\/07\/egypts-banks-processed-1-bn-electronic-transactions-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=Egypt\u2019s banks processed 1 bn electronic transactions in 2021&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/egypts-banks-processed-1-bn-electronic-transactions-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\/07\/egypts-banks-processed-1-bn-electronic-transactions-in-2021\/&title=Egypt\u2019s banks processed 1 bn electronic transactions 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=Egypt%E2%80%99s+banks+processed+1+bn+electronic+transactions+in+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F07%2Fegypts-banks-processed-1-bn-electronic-transactions-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\/07\/egypts-banks-processed-1-bn-electronic-transactions-in-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544508\" class=\"content-area-description single-story post-544508 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-arab-organization-for-industrialization tag-atrees-group tag-cit tag-construction tag-egypt-sudan-electricity-interlink tag-electricity tag-energy tag-enterpriseam tag-legislation tag-ma-watch tag-remco-group tag-talal-abu-ghazaleh tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>Egypt\u2019s banks processed 1 bn electronic transactions in 2021 worth a total of EGP <\/strong><strong>2.8 tn,<\/strong> said the Central Bank of Egypt\u2019s Sub-Governor for Payment Systems and Business Technology Ayman Hussein, according to <a href=\"https:\/\/bit.ly\/3hH98rs\">Hapi Journal.<\/a> Hussein didn\u2019t give a comparative figure for 2020.<\/p><p><strong>Atrees Group acquires 100% of Remco subsidiary Empain: <\/strong>Tourism developer Remco has approved the EGP 364.4 mn sale of its subsidiary Empain Tourism Investments to Atrees Group, according to a<a href=\"https:\/\/ent.news\/2022\/3\/132262_093802.pdf\">statement to the EGX (pdf).<\/a> The sale matches the fair value set in a study by Alpha Capital, and is slightly higher than an <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e9149fb4-c86d-4517-b6db-538604ec0815\">initial valuation<\/a> which valued the company at EGP 347.7 mn .<\/p><p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p><ul>\n<li><strong>Cabinet <\/strong><strong><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/350691530434607\">discussed<\/a><\/strong><strong> last week a draft law proposing harsher penalties for people who <\/strong><strong>illegally build on agricultural land<\/strong>, including revoking subsidies from owners and penalizing contractors.<\/li>\n<li><strong>Work <\/strong><strong><a href=\"https:\/\/bit.ly\/3twU9pH\">to more than triple the capacity<\/a><\/strong><strong> of the <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/38ece99e-b3be-4ea8-b3ac-21750621bb64\">Egypt-Sudan electricity<\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/38ece99e-b3be-4ea8-b3ac-21750621bb64\">interlink<\/a><\/strong> to 300 MW from 80 MW will be complete within five months.<\/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\/arab-organization-for-industrialization\/\">Arab Organization for Industrialization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/atrees-group\/\">Atrees Group<\/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\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-sudan-electricity-interlink\/\">Egypt-Sudan electricity interlink<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation\/\">legislation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/remco-group\/\">Remco Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/talal-abu-ghazaleh\/\">Talal Abu Ghazaleh<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/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=\"544509\" 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=\"544509\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/greenback-surges-on-ukraine-worries\/\">\r\n                            Greenback surges on Ukraine worries                        <\/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\/07\/greenback-surges-on-ukraine-worries\/\" 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\/07\/greenback-surges-on-ukraine-worries\/')\">\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\/07\/greenback-surges-on-ukraine-worries\/\">\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=Greenback surges on Ukraine worries&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/greenback-surges-on-ukraine-worries\/\">\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\/07\/greenback-surges-on-ukraine-worries\/&title=Greenback surges on Ukraine worries\">\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=Greenback+surges+on+Ukraine+worries+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F07%2Fgreenback-surges-on-ukraine-worries%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\/07\/greenback-surges-on-ukraine-worries\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544509\" class=\"content-area-description single-story post-544509 post type-post status-publish format-standard hentry category-planet-finance tag-aramco tag-currencies tag-energy tag-enterpriseam tag-financial-markets tag-ma-watch tag-oil-and-gas tag-planet-finance tag-saudi-arabia tag-ukraine-conflict 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-10\"><\/a> <strong>The USD is getting stronger because of the Ukraine war: <\/strong>The USD has surged to its highest level since the pandemic-panic days of May 2020 as investors seek havens in response to the conflict in Ukraine, the <a href=\"https:\/\/www.wsj.com\/articles\/dollar-strength-builds-as-ukraine-war-deepens-11646575604?mod=hp_lead_pos2\">Wall Street Journal<\/a> reports. The ICE USD index finished the week up 2.1%, one of its largest jumps in the past five years, due to Russia\u2019s military campaign and retaliatory sanctions by western nations. When global equity markets slump, investors tend to run towards safe-haven assets such as gold or the USD \u2014 which has already been gaining strength in recent months amid expectations of higher interest rates by the Federal Reserve.<\/p><p><strong>Blackrock-led group gets mandate to finance Aramco pipeline acquisition: <\/strong>A syndicate of 19 international banks will provide USD 13.4 bn to the investor consortium that recently acquired a stake in Saudi Aramco\u2019s natgas pipelines subsidiary, <a href=\"https:\/\/bit.ly\/3vCkCoy\">Al Arabiya reports<\/a> citing unnamed sources. HSBC, JPMorgan Chase, BNP Paribas and Standard Chartered are reportedly among the international lenders participating in the seven-year loan, alongside Gulf banks including Riyad Bank, First Abu Dhabi Bank and Abu Dhabi Commercial Bank, and three Chinese lenders. The Blackrock-led group last month acquired <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8d8a2dee-61b6-4034-aaed-d5968ea41352\">a 49% stake<\/a> in the business for USD 15.5 bn.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>11,095<\/p>\n<\/td>\n<td>\n<p>-1.9% (YTD: -7.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>12,804<\/p>\n<\/td>\n<td>\n<p>+0.4% (YTD: +13.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>9,683<\/p>\n<\/td>\n<td>\n<p>-0.6% (YTD: +14.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,449<\/p>\n<\/td>\n<td>\n<p>-0.9% (YTD: +7.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,329<\/p>\n<\/td>\n<td>\n<p>-0.8% (YTD: -9.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>6,987<\/p>\n<\/td>\n<td>\n<p>-3.5% (YTD: -5.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 118.11<\/p>\n<\/td>\n<td>\n<p>+6.9%<\/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 5.02<\/p>\n<\/td>\n<td>\n<p>+6.2%<\/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 1,967<\/p>\n<\/td>\n<td>\n<p>+1.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 38,399<\/p>\n<\/td>\n<td>\n<p>-2.8% (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 1.9% at yesterday\u2019s close<\/strong> on turnover of EGP 763 mn (19.7% below the 90-day average). Foreign investors were net sellers. The index is down 7.2% YTD.<\/p><p><strong>In the green: <\/strong>Ezz Steel (+4.8%), Sidi Kerir Petrochemicals (+1.7%) and Mopco (+1.2%).<\/p><p><strong>In the red: <\/strong>Rameda (-4.4%), Telecom Egypt (-4.0%) and Ibnsina Pharma (-3.9%).<\/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\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/currencies\/\">currencies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                          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from K-12 to post-secondary.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27480.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Monday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/blackboard\/\">\r\n                            Read Blackboard                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header 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calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"544511\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/the-enterprise-guide-to-youtube-education\/80-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/80.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"80.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/80.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/80.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-544510\" class=\"content-area-description post-544510 blackboard type-blackboard status-publish has-post-thumbnail hentry tag-big-think tag-education tag-enterprise-blackboard tag-enterpriseam tag-khan-academy tag-nature tag-numberphile tag-ted-ed tag-the-school-of-life tag-veritasium tag-youtube 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-09\"><\/a> <strong>Wish you really did learn something new every day?<\/strong> Whether you\u2019re looking to upskill your resume, get answers to a burning question, or dip your toe into a new field, the explosion of accessible, bite-sized online education means that you don\u2019t need to pour time or funds into gaining some extra knowledge. YouTube has become the go-to edutainment platform for many, serving up mns of hours of online learning without charge. But the sheer amount of information (and misinformation) out there means it\u2019s more important than ever to pick your sources wisely. To help orient you on your quest for online wisdom, we present our roundup of some of the most interesting and factually rigorous channels out there right now.<\/p>\n<p><strong>The old faithful:<\/strong> A YouTube classic and one of the most useful online tools for students, <a href=\"https:\/\/www.youtube.com\/c\/khanacademy\/featured\">Khan Academy<\/a> saved us from complete wreckage on tons of homework back in the day. But while the test prep videos come recommended, you don\u2019t have to be preparing for a high school calculus exam to gain from this channel. Head here for reams of playlists with detailed lessons on topics ranging from the fundamentals of macroeconomics to cosmology, chemistry and computer animation.<\/p>\n<p><strong>Another of our favorite channels aimed primarily at high-school students<\/strong> is <a href=\"https:\/\/www.youtube.com\/user\/crashcourse\/featured\">CrashCourse<\/a>, which offers in-depth multi-episode classes on almost every subject you can think of and can be a helpful introductory resource for adults looking to learn the basics about something new. There\u2019s an Arabic equivalent for<a href=\"https:\/\/www.youtube.com\/watch?v=IVzK4iQl6uY&list=PL8dPuuaLjXtPfI7iNFFINDNkuxnvl88w3\">CrashCourse<\/a>\u2019s world history series on DW Arabic, too.<\/p>\n<p><strong>Your basic gateway for fun facts:<\/strong> Why don\u2019t we cover the desert in solar panels? Do you have a ghost twin? Why do cats have vertical pupils? On the <a href=\"https:\/\/www.youtube.com\/channel\/UCsooa4yRKGN_zEE8iknghZA\">TED-Ed<\/a> channel, the <a href=\"https:\/\/www.ted.com\/\">people who reinvented<\/a> the conference presentation answer questions you never knew you had in intricately animated, 5-10 minute clips. These videos are pitched to the absolute beginner and work for school-age kids, too \u2013 a good starting point for reliable (if at times basic) information from across the sciences and humanities.<\/p>\n<p><strong>On the quirkier end of the spectrum:<\/strong> Get your dose of pop-science with <a href=\"https:\/\/www.youtube.com\/c\/inanutshell\">Kurzgesagt - In a Nutshell<\/a>. The tone is humorous, the animated visuals are striking, and the topics are current: The Futurism playlist features videos on interstellar mining and how to terraform Venus, while the Existential Crisis section includes a clip on what dinosaurs probably looked like, and another on what would happen if Earth got kicked out of the solar system in 10 minutes or less.<\/p>\n<p><strong>Go beyond the headlines<\/strong>: If you\u2019re looking to get a better handle on the drivers behind current affairs, news site <a href=\"https:\/\/www.youtube.com\/c\/Vox\/featured\">Vox<\/a>\u2019s YouTube offering has you covered. From the war in Ukraine to the anti-vax movement, Vox\u2019s videos use interviews with experts, rigorous research, and animation to help break down what\u2019s happening in the world. (If you liked <a href=\"https:\/\/www.netflix.com\/eg-en\/title\/80216752\">Netflix\u2019s Explained<\/a> series of short documentaries \u2014 produced in partnership with Vox \u2014 then this is the channel for you).<\/p>\n<p><strong>If you\u2019re looking for hard science,<\/strong> check out <a href=\"https:\/\/www.youtube.com\/c\/veritasium\/featured\">Veritasium<\/a>. Some of our fave eps include <a href=\"https:\/\/www.youtube.com\/watch?v=knDIENvBTgw\">how to launch a nuclear missile<\/a>, <a href=\"https:\/\/www.youtube.com\/watch?v=S20-1_XqVPM\">laser hair removal<\/a> and <a href=\"https:\/\/www.youtube.com\/watch?v=rjDX5ItsOnQ\">the invention of video<\/a>, and they also run a cool series about common scientific misconceptions that\u2019s worth checking out. Bonus: Some \u2014 though not all \u2014 the videos published in the channel\u2019s 10 year history are <a href=\"https:\/\/www.youtube.com\/channel\/UCmafpEjYI9WZH32DT0ebB1g\">dubbed in Arabic<\/a>. The videos made by scientific journal <a href=\"https:\/\/www.youtube.com\/channel\/UC7c8mE90qCtu11z47U0KErg\">Nature<\/a> also score high on our chart for visual representations of the most cutting edge scientific experiments and discoveries. Check out: <a href=\"https:\/\/www.youtube.com\/watch?v=4SKmAlQtAj8\">How vaccines work<\/a>, <a href=\"https:\/\/www.youtube.com\/watch?v=KwyFya_2Lko\">searching for supernovas<\/a> and <a href=\"https:\/\/www.youtube.com\/watch?v=cq5mOU3D7OE\">why leaky pipes can be better for moving water<\/a>. <a href=\"https:\/\/www.youtube.com\/c\/NatureArabicEd\/videos\">Nature Arabic<\/a> has some of the same content with Arabic subtitles.<\/p>\n<p><strong>For the number-crunchers:<\/strong> Want to know how to scientifically cut a birthday cake or the problems with zero? <a href=\"https:\/\/www.youtube.com\/channel\/UCoxcjq-8xIDTYp3uz647V5A\">Numberphile<\/a>\u2019s rotating list of impassioned hosts will help guide you through some of the most fascinating and challenging concepts in the world of math.<\/p>\n<p><strong>For those who prefer their learning mediated through a familiar face:<\/strong> On <a href=\"https:\/\/www.youtube.com\/c\/bigthink\/featured\">Big Think<\/a>, your teachers are high profile thinkers, academics, and public intellectuals. It\u2019s a broad church, with some of the \u201cexpert\u201d teachers perhaps more deserving of the title than others. Recurring personalities like Neil DeGrasse Tyson, Michio Kaku and Malcom Gladwell rub virtual shoulders with Ricky Gervais, Jordan Petersen, and Richard Branson. One caveat: the curators seem to lean male and white in their choice of speakers.<\/p>\n<p><strong>Searching for some guidance?<\/strong> <a href=\"https:\/\/www.youtube.com\/c\/theschooloflifetv\/featured\">The School of Life<\/a> aims to address the day-to-day challenges school never prepared you for. The channel delves into the knotty emotional and psychological conundrums we face at work and in our relationships, using key concepts from the social sciences and humanities to try and unravel them. They typically publish a new video every week.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top education stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>The design of a new campus for the French University in Egypt<\/strong> <strong>has been <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/10e6e4c8-79b0-4181-afe2-573822d70810\">awarded<\/a><\/strong><strong> to a French-Egyptian consortium<\/strong> that includes French architecture firm Jakob + Macfarlane and Cairo-based Raafat Miller Consulting.<\/li>\n<li><strong>The government has <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a97d13a8-dea0-4f5f-87ed-5019e1110cea\">launched<\/a><\/strong><strong> an online registration form for Egyptians studying in Ukraine<\/strong> amid efforts to repatriate the 6k-strong community of Egyptian expats from the war-torn country.<\/li>\n<li><strong>Online law education platform Kouncel <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/33d008a9-6004-4be5-8759-d859de6b5db0\">raised<\/a><\/strong><strong> funding and support worth EUR 1.2 mn<\/strong> in a pre-seed round.<\/li>\n<li><strong>Egyvax clinical trials kick off: <\/strong>Forty-five volunteers will be given doses of Egypt\u2019s second experimental covid-19 vaccine in clinical trials that <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/84f12513-6360-49e8-bf8a-851b78650de8\">launched<\/a> last week,<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/big-think\/\">Big Think<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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    <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/07\/544512\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544512\" class=\"content-area-description single-story post-544512 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>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 \u2013 new administrative capital \u2013 10th of Ramadan Light Rail Train (LRT) line <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/327078179462609\">will start operating<\/a>.<\/p>\n<p>March: The new multi-purpose station at <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b705927d-ff68-4720-8bae-3b3dfde3705d\">Dekheila Port and the revamped Ain Sokhna Port<\/a> will start operating.<\/p>\n<p>March: General Authority for Land and Dry Ports <a href=\"https:\/\/bit.ly\/3IbQQKI\">to issue the condition booklets<\/a> for the operations of the Tenth of Ramadan dry port.<\/p>\n<p>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 March: The first edition of <a href=\"https:\/\/www.exportsmart.net\/\">Export Smart<\/a> at Royal Maxim Palace Kempinski<\/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>24 March (Thursday): GB Auto Extraordinary General Assembly (<a href=\"https:\/\/ent.news\/2022\/3\/GBAuto-06-03-2022.pdf\">pdf<\/a>).<\/p>\n<p>24 March-1 April: Ahlan Ramadan Supermarket Expo, Cairo International Convention Center.<\/p>\n<p>25 March (Friday): Egypt will host Senegal in the first leg of their 2022 FIFA World Cup qualifiers' playoff (TBC).<\/p>\n<p>26 March (Saturday): Egypt-EU World Trade Organization dispute settlement consultations end.<\/p>\n<p>28-29 March (Monday-Tuesday): The Egypt International Mining Show (<a href=\"https:\/\/egypt-mining.com\/\">EIMS 2022<\/a>) will take place virtually.<\/p>\n<p>28 March (Monday): The second leg of the 2022 FIFA World Cup qualifiers' playoff between Egypt and Senegal (TBC).<\/p>\n<p>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>3Q2022: Ayady\u2019s consumer financing arm, The Egyptian Company for Consumer Finance Services, to release first financing product.<\/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>August: Work to extend the capacity of the <strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3a67dcca-de16-4313-b330-60fc1a21e6db\">Egypt-Sudan electricity interconnection<\/a><\/strong> to 300 MW to be completed.<\/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":544490,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-544489","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"39efadfd-020a-4b18-85f7-826d4ec1fd28","teaser":"","photo_url":"https:\/\/ent.news\/2022\/3\/74.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>Rising wheat and oil prices will hit Egypt\u2019s budget, ministers say - 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\/rising-wheat-and-oil-prices-will-hit-egypts-budget-ministers-say\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rising wheat and oil prices will hit Egypt\u2019s budget, ministers say\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/rising-wheat-and-oil-prices-will-hit-egypts-budget-ministers-say\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T20:41:30+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\/74.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\/rising-wheat-and-oil-prices-will-hit-egypts-budget-ministers-say\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/rising-wheat-and-oil-prices-will-hit-egypts-budget-ministers-say\/\",\"name\":\"Rising wheat and oil prices will hit Egypt\u2019s budget, ministers say - 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