{"id":544622,"date":"2022-03-14T03:55:12","date_gmt":"2022-03-14T03:55:12","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=544622"},"modified":"2025-12-15T20:44:46","modified_gmt":"2025-12-15T20:44:46","slug":"temporary-reprieve-from-black-sea-wheat-blackout-as-cargoes-head-to-egypt","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/temporary-reprieve-from-black-sea-wheat-blackout-as-cargoes-head-to-egypt\/","title":{"rendered":"Temporary reprieve from Black Sea wheat blackout as cargoes head to Egypt"},"content":{"rendered":"<section id=\"544624\" 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=\"544624\">\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\/14\/this-morning-construction-lobby-worrying-about-rising-cost-of-building-materials-china-locks-down-shenzhen-a-key-manufacturing-center-for-the-global-tech-industry\/\">\r\n                            THIS MORNING: Construction lobby worrying about rising cost of building materials + China locks down Shenzhen, a key manufacturing center for the global tech industry                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul 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class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/this-morning-construction-lobby-worrying-about-rising-cost-of-building-materials-china-locks-down-shenzhen-a-key-manufacturing-center-for-the-global-tech-industry\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544624\" class=\"content-area-description single-story post-544624 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-central-bank-of-egypt tag-diplomacy tag-enterpriseam tag-sameh-shoukry 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. We have very good news to start the workday: Egypt <\/strong><strong>has received two shipments of wheat <\/strong>\u2014 and more is on the way, including grain from Ukraine and Russia. The news, coupled with the government signaling that it will provide subsidized flour to private-sector bakeries for a period of time, should go a long way toward easing jitters about food security in the wake of Russia\u2019s invasion of Ukraine.<\/p><p>We have chapter and verse on the wheat story at the top of this morning\u2019s news well, below, and get into the flour-for-bakers issue in Last Night\u2019s Talk Shows.<\/p><p><strong>Also this morning: It\u2019s refreshing to see a ton of interest in green manufacturing<\/strong>, with news from major international investors looking to significantly up their investments here.<\/p><p><strong>PSA #1- Windy weather warnings: <\/strong>It\u2019s going to be cold during the day \u2014 and you\u2019ll want to break out a heavy blanket tonight, the Egyptian Meteorological Authority (EMA) <a href=\"https:\/\/www.facebook.com\/ema.gov.eg\/posts\/327899376035303\">warned<\/a> yesterday. We will see highs of 16-22\u00b0C and lows of 9-11\u00b0C through Saturday, the EMA <a href=\"https:\/\/www.facebook.com\/ema.gov.eg\/posts\/327842546040986\">said<\/a>, adding that light to moderate rainfall is expected across the north coast today and tomorrow.<\/p><p><strong>PSA #2- Clocks changed in much of Canada and the United States yesterday <\/strong>as they \u201csprang forward\u201d one hour to mark the start of daylight saving time. The United Kingdom will follow suit on Sunday, 27 March. <strong>Egypt dumped daylight saving time <\/strong><a href=\"https:\/\/enterprise.press\/stories\/2016\/06\/29\/what-were-tracking-on-29-july-2016-daylight-saving-scrapped-house-to-vote-on-budget-egypt-to-open-rafah-border-crossing\/\">back in 2016<\/a>, with the peak of DST madness having come in 2014, when clocks changed <a href=\"https:\/\/enterprise.press\/stories\/2016\/05\/03\/its-pmi-day-in-mena-daylight-savings-is-coming-back\/\">four times in one year<\/a> (forward in spring, back for Ramadan, forward again after Ramdan, and then back in fall at the end of DST).<\/p><p><strong>SOUND SMART #1- We probably did the right thing by ditching DST \u2014 and most EU citizens <\/strong><strong>want to do the same. <\/strong>The time change is supposed to <a href=\"https:\/\/www.usatoday.com\/story\/news\/2021\/11\/07\/2021-what-benefits-does-daylight-saving-bring\/6330065001\/\">conserve energy, prevent traffic accidents and cut crime<\/a>. The National Geographic thinks <a href=\"https:\/\/www.nationalgeographic.com\/science\/article\/daylight-saving-time\">those benefits are probably overblown<\/a>, if they exist at all \u2014 and that deadly traffic accidents may actually go up after clocks change.<\/p><p><strong>MEANWHILE- <\/strong><strong>Covid is still a thing and it\u2019s causing trouble in China:<\/strong> Beijing placed the entire city of Shenzhen \u2014 home to 17.5 mn people and one of the country\u2019s most important economic centers \u2014 into lockdown yesterday following a spike in covid cases, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-13\/china-places-all-shenzhen-residents-under-lockdown-afp?sref=mmeFTDW1\">Bloomberg<\/a> reports. Transport has been suspended, all non-essential businesses are closed, and residents are being prevented from leaving the city.<\/p><p><strong>SOUND SMART #2- Why this matters:<\/strong> Shenzhen has one of the country\u2019s busiest ports and is a key manufacturing hub, producing components for tech companies across the world. It hosts the headquarters of two of the country\u2019s biggest tech companies, Huawei and Tencent, as well as the main manufacturer of the iPhone. Not good news at a time when shipping costs are surging and tech supply chains continue to face bottlenecks due to the pandemic.<\/p><p><strong>WHAT\u2019S HAPPENING TODAY- <\/strong><\/p><p><strong>Foreign Minister Sameh Shoukry has kicked off a tour of Asia<\/strong>, during which he will visit Malaysia, Singapore, Indonesia and Pakistan, the ministry said in <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/357975693039524\">a statement<\/a> yesterday. The ministry didn\u2019t provide details of his schedule but mentioned that he will be in Islamabad to attend the Organization of Islamic Cooperation summit on 22-23 March.<\/p><p><strong>A World Health Organization (WHO) delegation <\/strong><strong><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/357771773059916\">is in town<\/a><\/strong><strong> visiting Egyptian Drug <\/strong><strong>Authority (EDA) headquarters, <\/strong>to check in on the EDA\u2019s work mechanisms, offer training on standard lab procedures in accordance with WHO rules, and make sure our pharma industry is operating within WHO guidelines.<\/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>THIS WEEK-<\/strong><\/p><p><strong>A lobby group for the construction industry is sounding the alarm on the impact of rising <\/strong><strong>building materials costs. <\/strong>The Egyptian Federation of Construction and Building Contractors will hold an \u201curgent\u201d meeting tomorrow, <a href=\"https:\/\/bit.ly\/3MLAFX1\">Al Mal<\/a> says, to discuss \u201cunjustified rises\u201d in the local price of steel, cement, and other materials. One union member was quoted as saying that contractors have been struggling with shortages and high prices in the steel market in recent days, potentially jeopardizing project schedules.<\/p><p><strong>The Russian-Ukrainian crisis has pressured global prices \u2014 and the hikes now hitting <\/strong><strong>the Egyptian market.<\/strong> Iron ore prices have been <a href=\"https:\/\/www.nasdaq.com\/articles\/iron-ore-prices-rise-as-russia-ukraine-conflict-clouds-supply-outlook\">climbing<\/a> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/19cdf00e-f36b-465c-8115-096d9196dcfc\">over concerns<\/a> that the conflict could curb global supply of the key steelmaking ingredient. Ezz Steel is now selling a ton of steel for EGP 17k after <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/19cdf00e-f36b-465c-8115-096d9196dcfc\">raising its prices<\/a> by EGP 2k over the past month, while the Suez Steel Company hiked its prices by around EGP 1.5k.<\/p><p><strong>It\u2019s Fed week:<\/strong> The Federal Reserve will meet to review interest rates on Tuesday and Wednesday and is expected to kick off its long-signposted tightening cycle with a 25-bps hike. The market previously anticipated the central bank to go bigger and raise interest rates by 50 bps, but now expects the uncertainties triggered by the conflict in Ukraine to have changed its calculations.<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>RESCHEDULED- US Deputy Secretary of State Wendy Sherman scrapped her trip to<\/strong> <strong>Egypt <\/strong><a href=\"https:\/\/www.state.gov\/deputy-secretary-shermans-travel-to-turkey-spain-morocco-algeria-and-egypt\/\">scheduled<\/a> for Thursday and Friday of last week \u201cdue to unforeseen logistical issues.\u201d She had been set to meet with Shoukry and \u201cother senior officials,\u201d including National Council for Human Rights chief Moushira Khattab. Sherman \u201clooks forward to rescheduling her visit,\u201d the State Department <a href=\"https:\/\/www.state.gov\/deputy-secretary-shermans-travel-to-turkey-spain-morocco-and-algeria\/\">said in a brief statement<\/a>.<\/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> In many parts of the world proximity to reputable institutions and the high costs associated with enrollment have typically presented significant barriers to access high quality post-secondary education. Now, many of the top universities around the world offer a portion of their undergraduate and graduate course offerings online \u2014 a good chunk of which you can complete at zero cost. In this issue we map out where to find these platforms and some of the most popular (and useful) courses you can use to help you jumpstart a career shift or advance your current skill set from the comfort of your home.<\/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\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sameh-shoukry\/\">Sameh Shoukry<\/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=\"544625\" 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=\"544625\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/544625\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544625\" class=\"content-area-description single-story post-544625 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=\"544626\" 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=\"544626\">\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\/14\/were-getting-wheat-from-ukraine-russia-and-romania-within-days-and-local-farmers-are-pushing-the-state-to-pay-more-for-the-domestic-harvest\/\">\r\n                            We\u2019re getting wheat from Ukraine, Russia and Romania within days \u2014 and local farmers are pushing the state to pay more for the domestic harvest                        <\/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\/14\/were-getting-wheat-from-ukraine-russia-and-romania-within-days-and-local-farmers-are-pushing-the-state-to-pay-more-for-the-domestic-harvest\/\" 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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Egypt will receive 63k tonnes of wheat from each country in the coming days, the Supply Ministry said in <a href=\"https:\/\/www.facebook.com\/msitgovegypt\/posts\/303747951853105\">a statement<\/a> yesterday, helping to shore up the country\u2019s reserves amid a supply shock caused by the conflict.<\/p>\n<p><strong>That\u2019s not all:<\/strong> Egypt received 126k tonnes of French and Romanian wheat last week, the ministry said.<\/p>\n<p><strong>The latest shipments have made it out of port despite Russia\u2019s invasion of Ukraine:<\/strong> The conflict is causing serious disruption to exports from the two countries, which supply around a third of the world\u2019s supply of wheat and around 80% of Egypt\u2019s grain imports. The ministry didn\u2019t disclose which ports the shipments have departed from.<\/p>\n<p><strong>Signs of normalization?<\/strong> Russia seems to be easing restrictions on commercial traffic in the Black Sea and has in recent days allowed 30 ships carrying grains to depart Russian ports, <a href=\"https:\/\/www.reuters.com\/world\/europe\/russia-halts-vessel-movement-azov-sea-black-sea-open-2022-02-24\/\">Bloomberg<\/a> reported last week, citing Interfax. Moscow had closed the sea of Azov to commercial ships after it launched its invasion of Ukraine, preventing the export of grains and other commodities from its Azov port.<\/p>\n<p><strong>Conflicting signals?<\/strong> Ukraine was reported last Wednesday to have <a href=\"https:\/\/apnews.com\/article\/russia-ukraine-business-europe-global-trade-38159046f7744b8c660ee7582dd392bf\">banned the export of wheat<\/a>, oats and other staples. The same day, Canada\u2019s <a href=\"https:\/\/www.theglobeandmail.com\/world\/article-inside-a-frantic-race-to-get-ukrainian-corn-and-wheat-to-world-markets\/\">Globe and Mail<\/a> quoted the head of the country\u2019s grain association as confirming reports the country would <a href=\"https:\/\/www.reuters.com\/world\/europe\/ukrainian-railways-ready-boost-grain-exports-by-train-2022-03-06\/\">move wheat by rail to neighboring countries<\/a> including Romania, Hungary, Slovakia and Poland. The country reportedly has 20 mn tons of wheat and corn in storage. It <a href=\"https:\/\/www.reuters.com\/world\/europe\/russia-halts-vessel-movement-azov-sea-black-sea-open-2022-02-24\/\">closed its Black Sea ports<\/a> to commercial ships after the conflict broke out and has said <a href=\"https:\/\/www.reuters.com\/world\/ukraines-ports-stay-closed-until-russian-invasion-ends-maritime-administration-2022-02-28\/\">they will remain closed<\/a> as long as the fighting continues.<\/p>\n<p><strong>The shipments are good news for Egypt: <\/strong>State grains buyer GASC had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/16670d8f-ff7e-4942-8c23-7f16a463f32f\">canceled two tenders<\/a> in the early days of the war amid spiraling prices and was reported by <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/ukraine-crisis-throws-egypts-wheat-purchases-into-doubt-2022-03-03\/\">Reuters<\/a> to have agreed to an extended shipment deadline for at least one of several cargoes reportedly stuck in Ukraine at the start of March. It is also said to be offering more flexibility over documentation. Two cargoes carrying 120k tonnes of wheat had been stuck in port in the Black Sea as of 4 March.<\/p>\n<p><strong>The gov\u2019t is working several angles to shore up food security as war continues in Easter <\/strong><strong>Europe:<\/strong> It is looking to up its production of local wheat, has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b0de30ab-61c5-41f0-a91f-f7ffd44cecd4\">banned the export of staple foods<\/a> for three months, and is trying to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a38a8f80-51ed-4cc9-83ab-64e4d1ea633c\">diversify supply<\/a> away from the embattled Black Sea region. The country currently has enough wheat in reserve to sustain it for 4.5 months and the local harvest should provide another four months of supply.<\/p>\n<p><strong>The fiscal impact is going to be significant:<\/strong> The Finance Ministry expects soaring wheat prices to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/90dbcce6-c13b-4758-8275-21fd871e7ef4\">add up to EGP 15 bn<\/a> to its import bill this fiscal year and is already <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/731d170e-0d1f-4b23-bc64-336247c74924\">rethinking its fiscal targets<\/a> as a result. Global wheat prices have surged 48% over the past two weeks, adding <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/19cdf00e-f36b-465c-8115-096d9196dcfc\">more than USD 100 to the price<\/a> per ton and sending <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cd6bb322-4455-45ba-a0a8-1cb3976dbdbc\">local bread prices soaring<\/a>.<\/p>\n<p><strong>But upping local wheat will also come with a price:<\/strong> Faced with surging fertilizer prices and rising labor costs, local farmers are calling on the government to raise local wheat prices by 22% in order for them to meet production targets, Farmers\u2019 Syndicate head Hussein Abu Saddam told <a href=\"https:\/\/www.asharqbusiness.com\/article\/34885\">Bloomberg Asharq<\/a>. The syndicate wants the government to purchase wheat for EGP 1k per ardib, up from EGP 820, to help the domestic industry cope with inflation.<\/p>\n<p><strong>The gov\u2019t already hiked prices by 13% from last year: <\/strong>The supply, agriculture and finance ministries <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/15d45665-349c-485e-b1cb-1fc861ae8204\">raised prices<\/a> to EGP 800-820 per ardib ahead of this year\u2019s planting season in response to decade-high wheat prices in the global market \u2014 and that was before Russia\u2019s war effectively suspended 30% of the world\u2019s wheat supply. \u201cThe price offered by the government is not appropriate. Everything has increased in price, from fertilizers to equipment to the cost of labor, so why only the price of wheat remains the same,\u201d one farmer told the newspaper.<\/p>\n<p><strong>Farmers warn that if the price isn\u2019t right, they won\u2019t produce enough to meet the <\/strong><strong>government\u2019s ambitious target: <\/strong>The Supply Ministry <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/74c0dedf-7743-40b0-8037-9a3fd5e235d1\">hiked local purchase targets<\/a> to 5.5 mn tonnes at the war\u2019s outset from an earlier 4 mn tons. The move is meant to shore up reserves, but the syndicate is warning that it will not be able to meet this unless the state offers better pricing. \u201cIf the government doesn\u2019t raise prices, it won\u2019t be able to collect even 3 mn tonnes of wheat\u201d this season, Abu Saddam told Asharq.<\/p>\n<p><strong>Incentives are in the works:<\/strong> Adding details to incentives <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/19cdf00e-f36b-465c-8115-096d9196dcfc\">signposted last week<\/a>, the government will try to help out farmers by upping its supply of fertilizer and speeding up transactions, Deputy Agriculture Minister Mohamed El Kersh said in a phone-in with Kelma Akhira\u2019s Lamees El Hadidi (<a href=\"https:\/\/youtu.be\/fzQEoCvSBaU\">watch, runtime 4:23<\/a>). The ministry also wants to allocate another 800k acres of agricultural land to cultivating wheat, he said.<\/p>\n<p><strong>But it is unclear whether it is willing to negotiate on prices:<\/strong> \u201cSo far, there are no signs that the government will increase the price of wheat,\u201d another farmer 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\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia-ukraine-war\/\">Russia-Ukraine war<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"544628\" 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=\"544628\">\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\/14\/signs-of-progress-in-peace-talks-as-nato-issues-warning-to-moscow\/\">\r\n                            Signs of progress in peace talks as Nato issues warning to Moscow                        <\/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\/14\/signs-of-progress-in-peace-talks-as-nato-issues-warning-to-moscow\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" 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wp-post-image\" alt=\"\" data-attachment-id=\"544629\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/signs-of-progress-in-peace-talks-as-nato-issues-warning-to-moscow\/161-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/161.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"161.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/161.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/161.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544628\" class=\"content-area-description single-story post-544628 post type-post status-publish format-standard has-post-thumbnail hentry category-war-watch tag-china tag-diplomacy tag-economy tag-enterpriseam tag-imf tag-nato tag-politics tag-russia tag-russia-ukraine-conflict tag-ukraine tag-us 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-03\"><\/a> <strong>Ukraine, Russia negotiators signal progress in peace talks:<\/strong> Peace negotiations between Russia and Ukraine could be showing signs of progress, with officials from both sides yesterday signaling that the talks could produce an agreement within days.<\/p>\n<p><strong>What the Ukrainians are saying:<\/strong> \u201cI think that we will achieve some results literally in a matter of days,\u201d Ukrainian negotiator and presidential adviser Mykhailo Podolyak said in a video posted online seen by <a href=\"https:\/\/www.reuters.com\/world\/europe\/russian-delegate-says-talks-with-ukraine-may-soon-produce-draft-agreements-2022-03-13\/\">Reuters<\/a>, adding that Russia is \u201cbeginning to talk constructively.\u201d<\/p>\n<p><strong>What the Russians are saying:<\/strong> There has been \u201csignificant progress\u201d in the negotiations, according to Russian negotiator Leonid Slutsky, who told <a href=\"https:\/\/russian.rt.com\/ussr\/news\/975261-sluckii-peregovory-rossiya-ukraina\">RT<\/a> that he believes the two sides could be in a position to sign onto an agreement in the coming days.<\/p>\n<p><strong>What are they actually talking about? <\/strong>The details of the negotiations are being kept under wraps so it remains unclear where compromises are being made. The Russians have so far been steadfast in their public demands of Ukraine, with senior officials repeatedly telling Kyiv that the war will not stop until it promises to add a neutrality clause to its constitution, recognize Russian sovereignty over Crimea, and allow the breakaway republics in the Donbas to become independent territories. Ukraine, meanwhile, is refusing to cede any of its territory to the Russians but has signaled that it is willing to discuss its future relationship with Nato.<\/p>\n<p><strong>The next round of talks is due to start today<\/strong> via video, <a href=\"https:\/\/www.reuters.com\/world\/europe\/ukraine-insist-talks-with-russia-presidents-meeting-zelenskiy-2022-03-14\/\">Reuters<\/a> says.<\/p>\n<p><strong>Progress at the negotiating table was dimmed somewhat by more Russia-Nato<\/strong> <strong>saber-rattling and claims that Moscow wants Chinese assistance in the conflict:<\/strong> A Russian missile strike on a Ukrainian military base close to the Polish border led to more calls for a no-fly zone and <a href=\"https:\/\/fortune.com\/2022\/03\/13\/nato-will-act-russia-hits-alliance-us\/\">warnings from Washington<\/a> that attacks on the territories of Nato members will be met with a military response. <a href=\"https:\/\/www.nbcnews.com\/news\/world\/least-35-killed-russian-airstrike-base-polish-border-ukrainian-officia-rcna19821\">Ukrainian officials said<\/a> that 35 people died and more than 130 were injured after Russian forces struck a base used by western governments to train Ukrainian soldiers.<\/p>\n<p><strong>Russia has asked China for military assistance <\/strong>to help it in the conflict, US officials told the<a href=\"https:\/\/www.ft.com\/content\/30850470-8c8c-4b53-aa39-01497064a7b7\"><\/a><a href=\"https:\/\/www.ft.com\/content\/30850470-8c8c-4b53-aa39-01497064a7b7\">Financial Times<\/a>, without providing evidence or further details. US National Security Adviser Jake Sullivan warned that Beijing will \u201cabsolutely\u201d face repercussions if it helps Moscow skirt sanctions, according to <a href=\"https:\/\/www.reuters.com\/world\/white-house-adviser-discuss-russias-war-ukraine-with-chinas-top-diplomat-source-2022-03-13\/\">Reuters<\/a>. Sullivan is due to meet senior Chinese diplomat Yang Jiechi for talks in Rome today.<\/p>\n<p><strong>China denies:<\/strong> \"I've never heard of that,\u201d the spokesperson for China's embassy in Washington told <a href=\"https:\/\/www.reuters.com\/world\/chinese-embassy-says-has-never-heard-russian-requests-ukraine-help-2022-03-13\/\">Reuters<\/a> when asked for comment.<\/p>\n<p><strong>THE HUMAN TOLL-<\/strong><\/p>\n<p><strong>Almost 2.7 mn people have now fled Ukraine into neighboring countries<\/strong>, according to <a href=\"https:\/\/data2.unhcr.org\/en\/situations\/ukraine\">the<\/a><a href=\"https:\/\/data2.unhcr.org\/en\/situations\/ukraine\"><\/a><a href=\"https:\/\/data2.unhcr.org\/en\/situations\/ukraine\">latest tally<\/a> by UN agencies.<\/p>\n<p><strong>At least 596 people have lost their lives, including 43 children, since the conflict began<\/strong> <strong>on 24 February<\/strong>, <a href=\"https:\/\/ukraine.un.org\/sites\/default\/files\/2022-03\/Ukraine%20-%20civilian%20casualty%20update%20as%20of%2024.00%2012%20March%202022%20UKR.pdf\">the UN said (pdf)<\/a> yesterday, adding that it believes the figure to be \u201cconsiderably higher.\u201d In addition, 1,067 civilians, including 57 children, have been injured.<\/p>\n<p><strong>More than 140k civilians have been evacuated from conflict areas<\/strong> in the country, Ukraine\u2019s deputy prime minister said yesterday, according to <a href=\"https:\/\/www.reuters.com\/article\/ukraine-crisis-idCNL3N2VG016\">Reuters<\/a>.<\/p>\n<p><strong>Award-winning American journalist Brent Renaud was shot dead by Russian forces <\/strong>in the town of Irpin outside of Kyiv, as he was traveling to film refugees, the <a href=\"https:\/\/www.nytimes.com\/2022\/03\/13\/world\/europe\/brent-renaud-irpin.html\">New York Times<\/a> reported.<\/p>\n<p><strong>PLANET WAR FINANCE-<\/strong><\/p>\n<p><strong>A Russian sovereign default is unlikely to trigger a global financial crisis<\/strong>, IMF head Kristalina Georgieva said yesterday, amid expectations that Moscow will be unable to pay its foreign-currency debts due to the unprecedented sanctions on its central bank and financial system. Russia is \u201cdefinitely not systemically relevant,\u201d Georgieva said when asked about possible contagion during an interview on CBS\u2019s Face the Nation, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-13\/imf-head-says-russian-default-no-longer-an-improbable-event?srnd=premium&sref=mmeFTDW1\">Bloomberg<\/a> reports. Sanctions on the Russian central bank has left it without access to most of its reserves, leaving it unable to meet foreign-currency bond repayments. Fitch <a href=\"https:\/\/www.fitchratings.com\/research\/sovereigns\/fitch-downgrades-russia-to-c-08-03-2022\">said last week<\/a> that it expects an \u201cimminent\u201d default.<\/p>\n<p><strong>But that doesn\u2019t mean we\u2019re being spared a global downturn:<\/strong> Georgieva <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/60369999-0536-445f-86c7-6ca68e624aed\">said last week<\/a> that she expects the IMF to further downgrade its 2022 global growth outlook due to the commodity price shock and its effects on consumer and business confidence.<\/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\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nato\/\">NATO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/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\/russia-ukraine-conflict\/\">Russia-Ukraine conflict<\/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\/us\/\">US<\/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=\"544630\" 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=\"544630\">\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\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/misr-ins-appoints-legal-advisor-for-planned-ipo\/\">\r\n                            Misr Ins. appoints legal advisor for planned IPO                        <\/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\/14\/misr-ins-appoints-legal-advisor-for-planned-ipo\/\" 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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Holding (MIH) has tapped Zaki Hashem & Partners as legal advisors <\/strong><strong>for the process of offering its subsidiary, Misr Life Ins., on the EGX<\/strong>, Chairman Basel El Hiny said in a press conference yesterday.<\/p>\n<p><strong>MIH is looking to list 25% Misr Life on the EGX during 2H2022<\/strong> as part of the state privatization program, El Hiny told us back in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/01c4eb21-6559-49bf-86ce-bb682d493449\">October<\/a>. The state-owned company has completed all the internal procedures needed for its planned IPO and is currently waiting on approvals from other authorities, El Hiny said. The company previously announced that it appointed NI Capital as its financial advisor for the offering.<\/p>\n<p><strong>But when to pull the trigger?<\/strong> That depends on market conditions, he said.<\/p>\n<p><strong>Market conditions haven\u2019t been great this year<\/strong>, with the EGX30 <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f59fbbaf-16c3-463e-8e10-a1010337507f\">falling into correction territory<\/a> last week and foreign investors leaving the market on concerns about the impact of the ongoing commodity price shock on the economy. The benchmark index is now down 12.3% from its recent peak in January.<\/p>\n<p><strong>The potential sale of a stake in Misr Life comes as MIH reports improving earnings<\/strong>: The company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c6e8c43a-85b2-4c7d-95c0-264822e6a52b\">reported a 5% increase in net income<\/a> in 2020-2021.<\/p>\n<p><strong>ALSO FROM MIH-<\/strong><\/p>\n<p><strong>The company will announce a new leasing and factoring arm in the coming weeks<\/strong> and has already received approval from the Financial Regulatory Authority, El Hini said. MIH has previously tried to enter the non-bank sector by making acquisitions but was unsuccessful, he said.<\/p>\n<p><strong>MIH is working on a second investment in education:<\/strong> After contributing to the launch of the Lighthouse Education investment platform, MIH plans to deepen its footprint in the \"promising\" education sector, El Hini said, without providing further details. The company invested <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7da85b5b-326b-46e7-84ee-698fa6f9db70\">EGP 125 mn<\/a> in Lighthouse, which reached a first close of EGP 560 mn in November.<\/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\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/insurance\/\">insurance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mih\/\">MIH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-privatization-program\/\">state privatization program<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/zaki-hashem-partners\/\">Zaki Hashem &amp; Partners<\/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=\"544632\" 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=\"544632\">\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\">Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/fresh-exemptions-from-filing-l-cs-for-some-imports-central-bank-exempts-some-foodstuffs-from-cash-cover-for-another-year\/\">\r\n                            Fresh exemptions from filing L\/Cs for some imports + central bank exempts some foodstuffs from cash cover for another year                        <\/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 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href=\"https:\/\/api.whatsapp.com\/send?text=Fresh+exemptions+from+filing+L%2FCs+for+some+imports+%2B+central+bank+exempts+some+foodstuffs+from+cash+cover+for+another+year+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F14%2Ffresh-exemptions-from-filing-l-cs-for-some-imports-central-bank-exempts-some-foodstuffs-from-cash-cover-for-another-year%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\/14\/fresh-exemptions-from-filing-l-cs-for-some-imports-central-bank-exempts-some-foodstuffs-from-cash-cover-for-another-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/165.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"544633\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/fresh-exemptions-from-filing-l-cs-for-some-imports-central-bank-exempts-some-foodstuffs-from-cash-cover-for-another-year\/165-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/165.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"165.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/165.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/165.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544632\" class=\"content-area-description single-story post-544632 post type-post status-publish format-standard has-post-thumbnail hentry category-trade tag-enterpriseam tag-trade 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>No L\/Cs required for operational imports:<\/strong> Some goods imported by companies and organizations for their own use \u2014 as opposed to for resale or as raw materials for manufacturing, for example \u2014 will be exempted from filing certain customs forms with banks, including letters of credit (L\/Cs), the Central Bank of Egypt announced in a <a href=\"https:\/\/ent.news\/2022\/3\/Circular-dated-8-March-2022-regarding-Ministry-of-Trade-and-Industry-decree-on-imports-for-personal-use.pdf\">cir<\/a><a href=\"https:\/\/ent.news\/2022\/3\/Circular-dated-8-March-2022-regarding-Ministry-of-Trade-and-Industry-decree-on-imports-for-personal-use.pdf\">cular (pdf)<\/a> last week. As of the beginning of March, banks have stopped documentary collection as part of the import cycle after the CBE <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f1237459-2827-438d-96c3-8fe7a8dce26e\">instructed them<\/a> to only accept L\/Cs<\/p>\n<p><strong>The imports that don\u2019t require L\/Cs: <\/strong>The paperwork isn\u2019t necessary for own-use imports worth up to USD 25k made once every six months. Machinery and equipment for projects implemented by Egyptian companies abroad is also newly exempt \u2014 such as construction equipment bought by a local firm to complete a project in a foreign country, which the firm then ships back home once the project is completed. Imports by embassies, consulates, commercial service bureaus, and international and regional organizations also get a pass on the forms.<\/p>\n<p><strong>The list of imports exempted from L\/Cs is growing. It now includes: <\/strong>transactions between freezones and overseas companies; <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b210d399-9901-46bd-ba7e-5731232f22c8\">some types<\/a> of cross-border trade; temporary imports and imports for re-export; imports by foreign companies; those made via express shipment; imports of goods worth up to USD 5k; and a raft of commodity and pharma imports.<\/p>\n<p><strong>ALSO IN TRADE- CBE extends cash cover for foodstuffs: <\/strong>The central bank is <a href=\"https:\/\/ent.news\/2022\/3\/%D9%83%D8%AA%D8%A7%D8%A8-%D8%AF%D9%88%D8%B1%D9%8A-%D8%A8%D8%AA%D8%A7%D8%B1%D9%8A%D8%AE-10-%D9%85%D8%A7%D8%B1%D8%B3-2022-%D8%A8%D8%B4%D8%A3%D9%86-%D9%85%D8%AF-%D9%81%D8%AA%D8%B1%D8%A9-%D8%A7%D8%B3%D8%AA%D8%AB%D9%86%D8%A7%D8%A1-%D8%A8%D8%B9%D8%B6-%D8%A7%D9%84%D9%85%D9%86%D8%AA%D8%AC%D8%A7%D8%AA-%D8%A7%D9%84%D8%BA%D8%B0%D8%A7%D8%A6%D9%8A%D8%A9-%D9%85%D9%86-%D9%85%D8%AA%D8%B7%D9%84%D8%A8%D8%A7%D8%AA-%D8%A7%D9%84%D8%BA%D8%B7%D8%A7%D8%A1-%D8%A7%D9%84%D9%86%D9%82%D8%AF%D9%8A-%D9%84%D9%85%D8%AF%D8%A9-%D8%B9%D8%A7%D9%85.pdf\">extending (pdf)<\/a> the exclusion period for rice, lentils, and fava beans from their 100% cash cover for another year, ending 15 March, 2023. The CBE has extended the exemption period annually (<a href=\"https:\/\/ent.news\/2022\/3\/Circular-dated-16-March-2020-regarding-extension-of-exempting-certain-food-products-from-cash-cover-requirements-for-one-year-.pdf\">here<\/a> and <a href=\"https:\/\/ent.news\/2022\/3\/Circular-dated-23-March-2021-regarding-extension-of-exempting-certain-food-products-from-cash-cover-requirements-for-one-year.pdf\">here<\/a>) since it was first <a href=\"https:\/\/ent.news\/2022\/3\/Circular-dated-6-March-2019-regarding-exempting-certain-food-products-from-cash-cover-requirements-for-one-year.pdf\">introduced<\/a> to facilitate imports of essential commodities in 2019.<\/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\/trade\/\">trade<\/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=\"544634\" 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=\"544634\">\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\">Green economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/scatec-to-build-green-ammonia-plant-in-egypt-lekela-eyes-green-hydro-desal-projects\/\">\r\n                            Scatec to build green ammonia plant in Egypt + Lekela eyes green hydro, desal projects                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/scatec-to-build-green-ammonia-plant-in-egypt-lekela-eyes-green-hydro-desal-projects\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/scatec-to-build-green-ammonia-plant-in-egypt-lekela-eyes-green-hydro-desal-projects\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/scatec-to-build-green-ammonia-plant-in-egypt-lekela-eyes-green-hydro-desal-projects\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Scatec to build green ammonia plant in Egypt + Lekela eyes green hydro, desal projects&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/scatec-to-build-green-ammonia-plant-in-egypt-lekela-eyes-green-hydro-desal-projects\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/scatec-to-build-green-ammonia-plant-in-egypt-lekela-eyes-green-hydro-desal-projects\/&title=Scatec to build green ammonia plant in Egypt + Lekela eyes green hydro, desal projects\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Scatec+to+build+green+ammonia+plant+in+Egypt+%2B+Lekela+eyes+green+hydro%2C+desal+projects+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F14%2Fscatec-to-build-green-ammonia-plant-in-egypt-lekela-eyes-green-hydro-desal-projects%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/scatec-to-build-green-ammonia-plant-in-egypt-lekela-eyes-green-hydro-desal-projects\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/166.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"544635\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/scatec-to-build-green-ammonia-plant-in-egypt-lekela-eyes-green-hydro-desal-projects\/166-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/166.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"166.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/166.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/166.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544634\" class=\"content-area-description single-story post-544634 post type-post status-publish format-standard has-post-thumbnail hentry category-green-economy tag-enterpriseam tag-green-ammonium tag-green-economy tag-green-hydrogen tag-investment-watch tag-lekela-power tag-renewables tag-scatec tag-suez-canal-economic-zone tag-water 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>Investment into green energy and infrastructure is starting to heat up ahead of COP27:-<\/strong><\/p>\n<p><strong>Norwegian renewable energy giant Scatec plans to build a green ammonium plant in Egypt<\/strong> with an annual production capacity of 1 mn tons per year, potentially expandable to 3 mn tons, <a href=\"https:\/\/scatec.com\/2022\/03\/10\/scatec-partners-with-the-sczone-the-sovereign-fund-of-egypt-the-ministry-of-electricity-and-renewable-energy-to-develop-a-large-scale-green-ammonia-facility-in-egypt\/?utm_source=pocket_mylist\">it said in a statement<\/a>. The plant, powered by renewable energy, will be based in the SCZone in Ain Sokhna with unspecified investment from the Sovereign Fund of Egypt.<\/p>\n<p><strong>Details still to come? <\/strong>Cabinet <a href=\"https:\/\/www.facebook.com\/SCZONE.EG\/posts\/284554950488565\">said in a statement<\/a> that the facility would cost USD 5 bn to build, but did not make clear whether that was for the first phase of the plant or the total anticipated cost including the expansion. It said it expects production to begin in 2025. The SCZone\u2019s Yehia Zaki said the facility will form the centerpiece of a \u201cgreen fuel industrial hub\u201d in the SCZone.<\/p>\n<p><strong>MEANWHILE- Lekela could branch out into green hydrogen + desalination: <\/strong>Renewables player Lekela Power is \u201cactively exploring\u201d potential green hydrogen and renewables-powered water desalination investment prospects with the government and the private sector, general manager for Egypt Faisal Issa told Enterprise. Spanish and British investors have expressed interest in working with Lekela on the desalination projects, he added.<\/p>\n<p><strong>New projects = fresh investment: <\/strong>Lekela could double or triple its investment in Egypt over the next four years, Issa said, without disclosing specific figures. The company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c5c730b4-4705-43f2-bfea-72fc0ba4e2db\">inaugurated<\/a> its 250 MW wind farm in West Bakr last November, and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/323f6825-1739-4d2e-b6f6-edea60694a8a\">said in 2020<\/a> that it would funnel most of its investments to Egypt in \u201cthe coming period.\u201d<\/p>\n<p><strong>Green hydrogen + desalination are all the rage right now: <\/strong>We\u2019ve been hearing a lot lately about the government\u2019s plans to bring the private sector in to boost these two priority sectors \u2014 and efforts are ramping up ahead of the COP27 climate summit in Sharm El Sheikh this November. Eleven companies are <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2b75b641-bb5e-436c-940d-99f0175103c7\">reportedly planning to bid<\/a> on government desalination projects worth a combined USD 2.8 bn, and are waiting on the government to issue related regulations. Meanwhile, the Electricity ministry is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5303348f-7e38-4a01-971e-4d935d99fdc6\">set to develop<\/a> a 12-month green hydrogen strategy amid plans to implement projects in the sector worth <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fe7a15bc-d122-4bdd-9aab-2af8f4f37393\">some USD 3-4 bn<\/a>.<\/p>\n<p><strong>REMINDER- <\/strong><strong>Lekela<\/strong><strong> could soon be under new ownership. <\/strong>South African mining firm <a href=\"https:\/\/www.exxaro.com\/\">Exxaro<\/a> and Chinese state fund CNIC <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7930b05c-8650-45aa-ae77-0991be2b63bf\">are reportedly among the final bidders<\/a> in the running for Actis\u2019 60% stake in the renewables firm. African Infrastructure Investment Managers \u2014 a unit of pan-African financial services outfit Old Mutual \u2014 is also said to have advanced to the final round and is currently seen as the frontrunner. Lekela has a presence in Egypt, Ghana, South Africa, and Senegal and has been valued at more than USD 2 bn.<\/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\/green-ammonium\/\">green ammonium<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-economy\/\">Green Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lekela-power\/\">Lekela Power<\/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\/scatec\/\">Scatec<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-economic-zone\/\">Suez Canal Economic Zone<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/water\/\">water<\/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=\"544636\" 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=\"544636\">\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\">Tax<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/enterprise-explains-tik-taxing-influencers-and-content-creators\/\">\r\n                            Enterprise Explains: Tik-Taxing influencers and content creators                        <\/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\/14\/enterprise-explains-tik-taxing-influencers-and-content-creators\/\" 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\/14\/enterprise-explains-tik-taxing-influencers-and-content-creators\/')\">\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\/14\/enterprise-explains-tik-taxing-influencers-and-content-creators\/\">\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=Enterprise Explains: Tik-Taxing influencers and content creators&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/enterprise-explains-tik-taxing-influencers-and-content-creators\/\">\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\/14\/enterprise-explains-tik-taxing-influencers-and-content-creators\/&title=Enterprise Explains: Tik-Taxing influencers and content creators\">\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=Enterprise+Explains%3A+Tik-Taxing+influencers+and+content+creators+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F14%2Fenterprise-explains-tik-taxing-influencers-and-content-creators%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\/14\/enterprise-explains-tik-taxing-influencers-and-content-creators\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/168.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"544637\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/enterprise-explains-tik-taxing-influencers-and-content-creators\/168-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/168.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"168.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/168.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/168.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544636\" class=\"content-area-description single-story post-544636 post type-post status-publish format-standard has-post-thumbnail hentry category-tax tag-enterprise-explains tag-enterpriseam tag-income-tax tag-social-media tag-tax tag-tax-authority tag-vat 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>YouTubers and other content creators: Here\u2019s how you file your taxes. <\/strong>The Finance Ministry and the Tax Authority have published a <a href=\"https:\/\/ent.news\/2022\/3\/mohtawa2-1.pdf\">manual (pdf)<\/a> outlining the ins and outs of the so-called \u201cblogger tax\u201d <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e273e7d9-79d5-4b72-808d-ef99c67a564b\">announced last year<\/a>. All YouTubers and content creators must pay income tax, while those who earn over EGP 500k a year via local platforms must also charge VAT. The manual breaks down who pays what and how.<\/p>\n<p><strong>If you are a Youtuber, TikToker, influencer, blogger, podcaster, or any kind of online creator who gets paid for their content, you now need to open up a tax file <\/strong>with the Tax Authority like any other business.<\/p>\n<p><strong>What kind of revenues will be taxed?<\/strong> Taxes will be collected on money made through content, including: advertising revenue on video and audio content posted to social media platforms (such as Youtube, Tiktok, Facebook and Instagram), as well as revenue made through endorsements, sponsored content, promoting products, selling merchandise, and funds collected through online \u201cdonations\u201d on Youtube, Patreon and other platforms.<\/p>\n<p><strong>How will the taxes be calculated? <\/strong>Egypt-based content creators will pay income tax at the same rates as any other self-employed person, ranging between 2.5% and 25% depending on how much you make. Tax returns need to be filed between January and March of each year.<\/p>\n<p><strong>Keep your receipts: What you pay to create content will be tax deductible<\/strong>. The money spent on products and services that help creators run their business will be written off. Examples of tax-deductible items include photography equipment, video editing services, domain hosting, and transport expenses.<\/p>\n<p><strong>If you make more than EGP 500k per year, you need to charge and remit VAT. <\/strong>Content creators with income above this threshold will need to charge and remit VAT and submit monthly returns via the Finance Ministry\u2019s electronic system, on top of their annual income tax declaration.<\/p>\n<p> <strong>Let\u2019s say you have a \u201cpaid partnership\u201d to promote Brand X on a series of Youtube videos. <\/strong>By definition, you don\u2019t invoice Youtube \u2014 Youtube gives you a cut of any advertising generated by your videos. That\u2019s an automated process and it is VAT exempt (see below). But you do have to charge Brand X the 14% VAT on the value of the invoice you give them to promote their (restaurant \/ widget \/ app) in that series of videos on your channel. In other words: Congratulations, you\u2019ve just become an advertising agency of one.<\/p>\n<p><strong>ALSO- <\/strong>While there\u2019s no VAT on content created for international platforms (goods and services exported outside Egypt are zero-rated under the VAT Act), content for Egypt-based platforms will be subject to the standard 14% VAT. So if you make content for a local website and get a cut? Break out your invoice software of choice.<\/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\/enterprise-explains\/\">Enterprise Explains<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/income-tax\/\">income tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/social-media\/\">social media<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax-authority\/\">Tax Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vat\/\">VAT<\/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=\"544638\" 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=\"544638\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/raya-holding-returns-to-the-black-in-2021\/\">\r\n                            Raya Holding returns to the black 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\/14\/raya-holding-returns-to-the-black-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\/14\/raya-holding-returns-to-the-black-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\/14\/raya-holding-returns-to-the-black-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=Raya Holding returns to the black in 2021&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/raya-holding-returns-to-the-black-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\/14\/raya-holding-returns-to-the-black-in-2021\/&title=Raya Holding returns to the black 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=Raya+Holding+returns+to+the+black+in+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F14%2Fraya-holding-returns-to-the-black-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\/14\/raya-holding-returns-to-the-black-in-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544638\" class=\"content-area-description single-story post-544638 post type-post status-publish format-standard hentry category-earnings-watch tag-earnings tag-earnings-watch tag-enterpriseam tag-raya-holding wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Raya Holding\u2019s net income rose to <\/strong><strong>EGP 541.4 mn in <\/strong><strong>2021<\/strong>, after having posted losses of EGP 45.7 mn the year before, according to the company\u2019s <a href=\"https:\/\/ent.news\/2022\/3\/%D8%B1%D8%A7%D9%8A%D8%A9-%D9%85%D8%AC%D9%85%D8%B9%D8%A9-13-03-2022.pdf\">financials (pdf)<\/a>. Revenues rose to EGP 16.9 bn, compared with EGP 10.8 bn in 2020.<\/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\/raya-holding\/\">Raya Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544639\" 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=\"544639\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/former-egpc-chief-abed-ezz-el-regal-to-head-abu-qir-fertilizers\/\">\r\n                            Former EGPC chief Abed Ezz El Regal to head Abu Qir Fertilizers                        <\/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\/14\/former-egpc-chief-abed-ezz-el-regal-to-head-abu-qir-fertilizers\/\" 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\/14\/former-egpc-chief-abed-ezz-el-regal-to-head-abu-qir-fertilizers\/')\">\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\/14\/former-egpc-chief-abed-ezz-el-regal-to-head-abu-qir-fertilizers\/\">\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=Former EGPC chief Abed Ezz El Regal to head Abu Qir Fertilizers&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/former-egpc-chief-abed-ezz-el-regal-to-head-abu-qir-fertilizers\/\">\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\/14\/former-egpc-chief-abed-ezz-el-regal-to-head-abu-qir-fertilizers\/&title=Former EGPC chief Abed Ezz El Regal to head Abu Qir Fertilizers\">\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=Former+EGPC+chief+Abed+Ezz+El+Regal+to+head+Abu+Qir+Fertilizers+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F14%2Fformer-egpc-chief-abed-ezz-el-regal-to-head-abu-qir-fertilizers%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\/14\/former-egpc-chief-abed-ezz-el-regal-to-head-abu-qir-fertilizers\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544639\" class=\"content-area-description single-story post-544639 post type-post status-publish format-standard hentry category-moves tag-abu-qir-fertilizers tag-egyptian-general-petroleum-corporation tag-enterpriseam tag-moves wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Oil Minister Tarek El Molla has appointed former EGPC head <strong>Abed Ezz El Regal<\/strong> as the <strong>chairman and managing director<\/strong> of <strong>Abu Qir Fertilizers<\/strong>, according to <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2548047\">Al Masry Al Youm<\/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\/abu-qir-fertilizers\/\">Abu Qir Fertilizers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-general-petroleum-corporation\/\">Egyptian General Petroleum Corporation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544640\" 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=\"544640\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/544640\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544640\" class=\"content-area-description single-story post-544640 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=\"544641\" 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=\"544641\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/govt-steps-in-to-lower-flour-prices-calls-for-metal-export-ban\/\">\r\n                            Gov\u2019t steps in to lower flour prices + calls for metal export ban                        <\/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\/14\/govt-steps-in-to-lower-flour-prices-calls-for-metal-export-ban\/\" 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\/14\/govt-steps-in-to-lower-flour-prices-calls-for-metal-export-ban\/')\">\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\/14\/govt-steps-in-to-lower-flour-prices-calls-for-metal-export-ban\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Gov\u2019t steps in to lower flour prices + calls for metal export ban&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/govt-steps-in-to-lower-flour-prices-calls-for-metal-export-ban\/\">\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\/14\/govt-steps-in-to-lower-flour-prices-calls-for-metal-export-ban\/&title=Gov\u2019t steps in to lower flour prices + calls for metal export ban\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Gov%E2%80%99t+steps+in+to+lower+flour+prices+%2B+calls+for+metal+export+ban+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F14%2Fgovt-steps-in-to-lower-flour-prices-calls-for-metal-export-ban%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\/14\/govt-steps-in-to-lower-flour-prices-calls-for-metal-export-ban\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544641\" class=\"content-area-description single-story post-544641 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-agriculture tag-commodities tag-enterpriseam tag-last-nights-talk-shows tag-trade tag-wheat wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-02\" class=\"content-anchor\"><\/a> <strong>Rising food price inflation continued to dominate the airwaves last night<\/strong>, with most of the talking heads dedicating sizable portions of their shows to discussing bread prices and what the government is doing to tackle the problem.<\/p>\n<p><strong>Bringing old prices back: <\/strong>In an effort to hold down bread prices, the government will subsidize private bakeries by selling flour at a discounted rate, according to Ragab Shehata, head of the Rice Division of the Federation of Industries, who appeared on El Hekaya last night (<a href=\"https:\/\/www.youtube.com\/watch?v=Djs3FJ-XyRg\">watch, runtime 3:27<\/a>). From today, bakeries will be able to purchase a ton of flour for EGP 8.5k, rather than the current market price of around EGP 11k, he said. The government also held talks with industry players, where the suggestion was made that bakeries could be required to sell unsubsidized bread by weight rather than pricing per loaf, to ensure that they aren\u2019t skimping on loaf size.<\/p>\n<p><strong>The price of unsubsidized bread in the Greater Cairo area has risen by <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cd6bb322-4455-45ba-a0a8-1cb3976dbdbc\">as much as 50%<\/a><\/strong> as global wheat prices soared following Russia\u2019s invasion of Ukraine. As of last week, a pack of five balady loaves can cost EGP 7.50 in Cairo, up from EGP 5.00 the week before.<\/p>\n<p><strong>Calls for extending the export ban to include metals:<\/strong> Engineers and metallurgical industry experts are calling on the Trade Ministry to extend its export restrictions to include a one-year ban on all types of metals, said Mohamed El Mohandes, chairman of the Engineering Industries Chamber of the Federation Industries, in a phone-in on Kelma Akhira (<a href=\"https:\/\/youtu.be\/8EKUsQKD_18\">watch, runtime 5:55<\/a>) amid a global surge in the prices of steel, copper and aluminum due to the Russia-Ukraine war. The Trade Ministry last week <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b0de30ab-61c5-41f0-a91f-f7ffd44cecd4\">banned the export<\/a> of staple food commodities, including wheat, flour, oils and corn, for three months.<\/p>\n<p><em>(EDITOR'S NOTE: This story was corrected on 14 March, 2022 to reflect that the cabinet is not considering supplying reduced amounts of flour to bakeries to combat stockpiling and inflating prices. The government in fact held talks with industry players, where it was suggested that bakeries could be required to sell unsubsidized bread by weight rather than pricing per loaf.)<\/em><\/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\/agriculture\/\">agriculture<\/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\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            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<\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544643\" 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=\"544643\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/the-commodity-price-shock-is-still-front-and-center-in-the-foreign-press\/\">\r\n                            The commodity price shock is still front and center in the foreign press                        <\/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\/14\/the-commodity-price-shock-is-still-front-and-center-in-the-foreign-press\/\" 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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single-story post-544643 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-commodities tag-enterpriseam tag-inflation tag-russia tag-russia-ukraine-conflict tag-ukraine tag-wheat wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The commodity price shock and its effect on Egypt\u2019s food supply is still <\/strong><strong>dominating coverage in the foreign press:<\/strong> The <a href=\"https:\/\/www.wsj.com\/articles\/russia-ukraine-war-threatens-wheat-supply-jolts-prices-11647115099?mod=Searchresults_pos1&page=1https:\/\/www.ft.com\/content\/ad225932-5600-432f-b8bf-e31b8050c73ahttps:\/\/www.bloomberg.com\/news\/articles\/2022-03-13\/how-russia-s-invasion-of-ukraine-is-tearing-apart-the-global-food-system?srnd=premium-middle-east&sref=mmeFTDW1\">Wall Street Journal<\/a>, the <a href=\"https:\/\/www.ft.com\/content\/ad225932-5600-432f-b8bf-e31b8050c73a\">Financial Times<\/a> and <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-13\/how-russia-s-invasion-of-ukraine-is-tearing-apart-the-global-food-system?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a> all mention Egypt in their latest updates on how the Russia-Ukraine conflict is upending the global food supply.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/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\/russia-ukraine-conflict\/\">Russia-Ukraine conflict<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ukraine\/\">Ukraine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544644\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544645\" 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=\"544645\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/egypt-wants-to-produce-green-fuels-for-maersk\/\">\r\n                            Egypt wants to produce green fuels for Maersk                        <\/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\" 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/egypt-wants-to-produce-green-fuels-for-maersk\/&title=Egypt wants to produce green fuels for Maersk\">\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+wants+to+produce+green+fuels+for+Maersk+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F14%2Fegypt-wants-to-produce-green-fuels-for-maersk%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\/14\/egypt-wants-to-produce-green-fuels-for-maersk\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544645\" class=\"content-area-description single-story post-544645 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-enterpriseam tag-green-methanol tag-maersk tag-security tag-suez-canal-economic-zone tag-us-senate tag-water tag-xylem wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>E<\/strong><strong>gypt wants to produce green fuels for Maersk:<\/strong> Maersk will soon sign an MoU with the Suez Canal Economic Zone (SCZone) which could pave the way for Egypt to supply the shipping giant with fuel for its new generation of low-carbon vessels, the SCZone said in <a href=\"https:\/\/sczone.eg\/sczone-is-in-discussions-with-maersk-for-the-green-fuel-production\/\">a statement<\/a> Friday following talks last week. Twelve new vessels recently ordered by Maersk will run on green methanol when they set sail in 2024 and the company is looking to secure <a href=\"https:\/\/qz.com\/2111985\/maersk-cant-find-enough-green-fuel-for-its-carbon-neutral-ships\/\">at least 450 mn tonnes a year<\/a> to keep them running.<\/p>\n<p><strong>Don\u2019t be surprised if this doesn\u2019t happen, though:<\/strong> Following the talks, Maersk announced it had <a href=\"https:\/\/www.maersk.com\/news\/articles\/2022\/03\/10\/maersk-engages-in-strategic-partnerships-to-scale-green-methanol-production\">signed agreements with six companies<\/a> from Europe, the US and China that will provide them with at least 730k tonnes a year by 2025.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li>US-based water solutions company <strong><a href=\"https:\/\/www.xylem.com\/en-us\/\">Xylem<\/a><\/strong><strong> is planning to <\/strong><strong><a href=\"https:\/\/hapijournal.com\/?p=178918\">establish a factory in Egypt<\/a><\/strong>, and has <a href=\"https:\/\/ent.news\/2022\/3\/Xylem-Office-Opening-PRL_EN.pdf\">opened a regional office (pdf)<\/a> in New Cairo. It will complete a feasibility study for the factory by the end of the year.<\/li>\n<li><strong>Phosphate Misr<\/strong> is set to begin construction on a <strong>USD 1.2 bn phosphoric acid and fertilizer complex<\/strong> in Abu Tartur plateau next May. The plant will produce 600k tonnes of acid a year once fully operational.<\/li>\n<li>Emirati businessman <strong>Khalaf Al Habtoor<\/strong> has <a href=\"https:\/\/twitter.com\/KhalafAlHabtoor\/status\/1501589263200227328?s=20&t=17et5IbEob-Uiotok4VzFQ\">held talks<\/a> with a number of Egyptian banks to <strong>discuss potential investment<\/strong> in the country.<\/li>\n<li>An attempt by US lawmakers to <strong>block <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ab50bdc4-147d-49c7-84bf-57bcb8c65d14\">a USD 2.2 bn arms sale<\/a><\/strong><strong> to Egypt<\/strong> on human rights grounds <strong><a href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/us-senate-backs-22-billion-military-sale-egypt-2022-03-10\/\">has failed<\/a><\/strong>, with senators voting down the effort by a margin of 81 to 18.<\/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\/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\/green-methanol\/\">green methanol<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/maersk\/\">Maersk<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/security\/\">security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-economic-zone\/\">Suez Canal Economic Zone<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us-senate\/\">US Senate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/water\/\">water<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/xylem\/\">Xylem<\/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=\"544646\" 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=\"544646\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/think-food-prices-are-high-now-the-un-is-warning-that-they-could-skyrocket-another-22\/\">\r\n                            Think food prices are high now? The UN is warning that they could skyrocket another 22%                        <\/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\/14\/think-food-prices-are-high-now-the-un-is-warning-that-they-could-skyrocket-another-22\/\" 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\/14\/think-food-prices-are-high-now-the-un-is-warning-that-they-could-skyrocket-another-22\/')\">\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\/14\/think-food-prices-are-high-now-the-un-is-warning-that-they-could-skyrocket-another-22\/\">\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=Think food prices are high now? The UN is warning that they could skyrocket another 22%&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/think-food-prices-are-high-now-the-un-is-warning-that-they-could-skyrocket-another-22\/\">\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\/14\/think-food-prices-are-high-now-the-un-is-warning-that-they-could-skyrocket-another-22\/&title=Think food prices are high now? The UN is warning that they could skyrocket another 22%\">\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=Think+food+prices+are+high+now%3F+The+UN+is+warning+that+they+could+skyrocket+another+22%25+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F14%2Fthink-food-prices-are-high-now-the-un-is-warning-that-they-could-skyrocket-another-22%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\/14\/think-food-prices-are-high-now-the-un-is-warning-that-they-could-skyrocket-another-22\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544646\" class=\"content-area-description single-story post-544646 post type-post status-publish format-standard hentry category-planet-finance tag-commodities tag-energy tag-enterpriseam tag-financial-markets tag-inflation tag-oil-and-gas tag-planet-finance tag-russia-ukraine-conflict tag-un wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>Think food prices are high now? The UN is warning that they could skyrocket <\/strong><strong>another 22%<\/strong> and forecasts that the global food supply will continue to feel the impact of the conflict far beyond the current season. <a href=\"https:\/\/www.fao.org\/3\/cb9013en\/cb9013en.pdf\">A report (pdf)<\/a> from the UN\u2019s Food and Agriculture Organization (FAO) finds that the \u201csudden and steep\u201d reduction in Black Sea grain and sunflower exports will likely continue to raise food prices in the months to come, a problem that will be exacerbated if the war drags on and energy prices remain high.<\/p><p><strong>Soaring oil prices shake already-struggling pandemic-beaten sectors, like airlines: <\/strong>After the conflict sent Brent crude prices to highs not seen in over a decade, investors are fleeing oil-dependent industries, the <a href=\"https:\/\/www.ft.com\/content\/4130028c-c5fb-4643-bdc7-c6da3b3bc0c9\">Financial Times<\/a> reported yesterday. This includes airlines, as well as companies that depend on oil for their manufacturing process: American Airlines\u2019 shares are down by almost a fifth this month, while shares of tyre manufacturer Goodyear Tire &amp; Rubber have also been hit hard. The possibility of oil continuing to spike has left financial markets on edge, with economists at Goldman Sachs noting that the world could soon face one of the \u201clargest energy supply shocks ever.\u201d<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>10,481<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: -12.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>12,605<\/p>\n<\/td>\n<td>\n<p>-0.6% (YTD: +11.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>9,636<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: +13.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,402<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: +6.5%)<\/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>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p> 4,204<\/p>\n<\/td>\n<td>\n<p>-1.3% (YTD: -11.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,116<\/p>\n<\/td>\n<td>\n<p>+0.8% (YTD: -3.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 112.67<\/p>\n<\/td>\n<td>\n<p>+3.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 4.72<\/p>\n<\/td>\n<td>\n<p>+2.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,985<\/p>\n<\/td>\n<td>\n<p>-0.8%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 38,737<\/p>\n<\/td>\n<td>\n<p>-1.0% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 rose 0.3% at yesterday\u2019s close<\/strong> on turnover of EGP 601 mn (35.4% below the 90-day average). Local investors were net buyers. The index is down 12.3% YTD.<\/p><p><strong>In the green: <\/strong>Abu Qir Fertilizers (+3.5%), CIB (+2.4%) and Mopco (+2.1%).<\/p><p><strong>In the red: <\/strong>Qalaa Holdings (-4.1%), Heliopolis Housing (-3.8%) and MM Group (-2.7%).<\/p><p><strong>It\u2019s a mixed open in Asia this morning:<\/strong> Chinese shares are in the red with the Hang Seng suffering the heaviest losses (-3.1%) after Beijing placed the entire city of Shenzhen under lockdown following a spike in covid cases. Others such as the Nikkei (+0.6%) and the ASX (+1.1%) are seeing gains.<\/p><p><strong>It\u2019s a different story in Europe and the US<\/strong>, where stock futures have exchanges to open in the green across the board. Oil prices are continuing to slide this morning on optimism that Russia and Ukraine are edging closer to a peace agreement. Brent was down 2.8% to USD 109 a barrel at the time of dispatch.<\/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\/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\/financial-markets\/\">Financial Markets<\/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\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia-ukraine-conflict\/\">Russia-Ukraine conflict<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/un\/\">UN<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"544647\" 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=\"544647\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/egypt-lobbies-for-african-climate-finance-continued-fossil-fuel-use\/\">\r\n                            Egypt lobbies for African climate finance, continued fossil-fuel use                        <\/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\/14\/egypt-lobbies-for-african-climate-finance-continued-fossil-fuel-use\/\" 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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El Molla made the comments during a forum on African economies and energy attended by the energy ministers of 11 African countries, at S&P Global\u2019s <a href=\"https:\/\/ceraweek.com\/about\/index.html\">CERAWeek<\/a> energy conference in Houston, Texas.<\/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\/africa\/\">Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy-transformation\/\">Energy transformation<\/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=\"544648\" 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=\"544648\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">15<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/greece-turkey-signal-closer-ties-on-ukraine-conflict-is-the-iran-nuclear-deal-dead\/\">\r\n                            Greece, Turkey signal closer ties on Ukraine conflict + Is the Iran nuclear deal dead?                        <\/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\/14\/greece-turkey-signal-closer-ties-on-ukraine-conflict-is-the-iran-nuclear-deal-dead\/\" 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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dead?&url=https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/greece-turkey-signal-closer-ties-on-ukraine-conflict-is-the-iran-nuclear-deal-dead\/\">\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\/14\/greece-turkey-signal-closer-ties-on-ukraine-conflict-is-the-iran-nuclear-deal-dead\/&title=Greece, Turkey signal closer ties on Ukraine conflict + Is the Iran nuclear deal dead?\">\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=Greece%2C+Turkey+signal+closer+ties+on+Ukraine+conflict+%2B+Is+the+Iran+nuclear+deal+dead%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F03%2F14%2Fgreece-turkey-signal-closer-ties-on-ukraine-conflict-is-the-iran-nuclear-deal-dead%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\/14\/greece-turkey-signal-closer-ties-on-ukraine-conflict-is-the-iran-nuclear-deal-dead\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544648\" class=\"content-area-description single-story post-544648 post type-post status-publish format-standard hentry category-around-the-world tag-around-the-world tag-diplomacy tag-eastern-mediterranean tag-enterpriseam tag-greece tag-iran tag-politics tag-russia-ukraine-war tag-saudi-arabia tag-turkey tag-us wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>An unexpected positive from the Russia-Ukraine conflict?<\/strong> Long standing foes Turkey and Greece have agreed to improve relations during talks yesterday in response to the deteriorating security situation in Europe, <a href=\"https:\/\/www.reuters.com\/world\/europe\/turkey-greece-agree-improve-ties-amid-ukraine-conflict-2022-03-13\/\">Reuters<\/a> reports. \u201cPointing out that Turkey and Greece have a special responsibility in the changing European security architecture with Russia's attack on Ukraine, the meeting focused on the mutual and regional benefits of increasing cooperation between the two countries,\u201d the Turkish presidency said in a statement. \u201cIt was agreed at the meeting to keep communication channels open and to improve bilateral relations.\u201d<\/p>\n<p><strong>Eighteen months is a long time in international relations:<\/strong> It was only in 2020 that the two countries were on the verge of going to war over <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4cbff3e9-2edd-4994-8b14-e0453fc0ca30\">competing gas interests and territorial claims<\/a> in the eastern Mediterranean.<\/p>\n<p><strong>And a big negative: The conflict is threatening to tank prospects of a nuclear <\/strong><strong>agreement with Iran.<\/strong> The US is not willing to enter negotiations with Moscow to save the Iran nuclear agreement and could start exploring alternatives if Russia doesn\u2019t withdraw its demand for written guarantees that its trade with Iran will not be impacted, the <a href=\"https:\/\/www.wsj.com\/articles\/u-s-wont-negotiate-ukraine-related-sanctions-with-russia-to-save-iran-nuclear-deal-11647167692?mod=hp_lead_pos1\">Wall Street Journal<\/a> quoted a senior US official as saying. Negotiators trying to restore the 2015 Iran nuclear pact were <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-11\/iran-nuclear-talks-halted-in-vienna-with-window-closing-on-deal?sref=mmeFTDW1\">forced to suspend their efforts<\/a> last week after they had been close to reaching an agreement due to Russia\u2019s last minute demands for Ukraine-related sanctions exemptions.<\/p>\n<p><strong>Iran has reacted swiftly following the suspension of talks<\/strong>, yesterday <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/iran-suspends-talks-with-saudi-arabia-nour-news-2022-03-13\/\">ending direct talks<\/a> with regional rival Saudi Arabia and <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-13\/iran-s-revolutionary-guard-said-it-conducted-iraq-missile-strike?srnd=premium-middle-east&sref=mmeFTDW1\">launching a missile strike<\/a> in the Iraqi city of Erbil, targeting what it says was an Israeli \u201cstrategic center.\u201d<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/around-the-world\/\">Around the World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eastern-mediterranean\/\">Eastern Mediterranean<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/greece\/\">Greece<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/iran\/\">Iran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia-ukraine-war\/\">Russia-Ukraine war<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"544649\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27466.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into education in Egypt, 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 text-center\">\r\n                        <div class=\"index-number\">15<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/the-enterprise-guide-to-zero-cost-online-courses\/\">\r\n                            The Enterprise guide to zero-cost online courses<\/a>\r\n                        <\/h3>\r\n                        \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/the-enterprise-guide-to-zero-cost-online-courses\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            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(max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"544650\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/the-enterprise-guide-to-zero-cost-online-courses\/171-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/171.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"171.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/171.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/171.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-544649\" class=\"content-area-description post-544649 blackboard type-blackboard status-publish has-post-thumbnail hentry tag-columbia-university tag-coursera tag-education tag-edx tag-enterprise-blackboard tag-enterpriseam tag-mit tag-virtual-learning wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>Narrowing the gap in access to quality education:<\/strong> In many parts of the world proximity to reputable institutions and the high costs associated with enrollment have typically presented significant barriers to access high quality post-secondary education. Now, many of the top universities around the world offer a portion of their undergraduate and graduate course offerings online \u2014 a good chunk of which you can complete at absolutely no cost. In this issue we map out where to find these platforms and some of the most popular (and useful) courses you can use to help you jumpstart a career shift or advance your current skill set from the comfort of your home.<\/p>\n<p><strong>Stanford University<\/strong>, one of the world\u2019s highest ranked computer science and engineering schools in the world, has some <a href=\"https:\/\/online.stanford.edu\/explore?type=All&delivery[164]=164&free_or_paid[free]=free&page=0\">60 open-source online courses<\/a> on offer. <a href=\"https:\/\/www.coursera.org\/learn\/machine-learning?ranMID=40328&ranEAID=EHFxW6yx8Uo&ranSiteID=EHFxW6yx8Uo-c3eUgEeU1OFeg6f7JNgJrg&siteID=EHFxW6yx8Uo-c3eUgEeU1OFeg6f7JNgJrg&utm_content=10&utm_medium=partners&utm_source=linkshare&utm_campaign=EHFxW6yx8Uo#enroll\">Machine Learning<\/a> is among the most popular courses in their roster, where you will, among many other things, take a look at how to get computers to run without explicit human commands. Hop in at any time and complete the 61-hour course at your own pace over at <a href=\"https:\/\/www.coursera.org\/\">Coursera<\/a>. As is the case with most other schools in this list, receiving a certificate verifying completion of the course or any program for that matter will require extra payment. You can find Stanford\u2019s full catalog of online courses at no charge <a href=\"https:\/\/online.stanford.edu\/explore?type=All&delivery[164]=164&free_or_paid[free]=free&page=0\">here<\/a>, which includes <a href=\"https:\/\/www.coursera.org\/learn\/game-theory-1?ranMID=40328&ranEAID=EHFxW6yx8Uo&ranSiteID=EHFxW6yx8Uo-GFz4yS5P5xzALFfYf2oG8A&siteID=EHFxW6yx8Uo-GFz4yS5P5xzALFfYf2oG8A&utm_content=10&utm_medium=partners&utm_source=linkshare&utm_campaign=EHFxW6yx8Uo\">Game Theory<\/a>, <a href=\"https:\/\/www.edx.org\/course\/algorithms-design-and-analysis?source=aw&awc=6798_1646760323_ea56f78ebb34f23ad2f37467dad53ab6&utm_source=aw&utm_medium=affiliate_partner&utm_content=text-link&utm_term=257137_Business+Insider\">Algorithms: Designs and Analysis Part 1<\/a> and <a href=\"https:\/\/www.edx.org\/course\/designing-your-career?source=aw&awc=6798_1646760269_44619c199cc23fa5102a6fbf90fe45d5&utm_source=aw&utm_medium=affiliate_partner&utm_content=text-link&utm_term=257137_Business+Insider\">Designing Your Career<\/a>.<\/p>\n<p><strong>Harvard University, <\/strong>also a part of the same elite crew of private schools in the US, has <a href=\"https:\/\/pll.harvard.edu\/catalog?keywords=&free%5B1%5D=1&max_price=&start_date_range%5Bmin%5D%5Bdate%5D=&start_date_range%5Bmax%5D%5Bdate%5D=\">some 132 no-cost courses<\/a> to choose from. Their most popular course, with some 3.5 mn enrollments thus far in the course\u2019s three-year history, is CS50's <strong><a href=\"https:\/\/pll.harvard.edu\/course\/cs50-introduction-computer-science?delta=0\">Introduction to Computer Science<\/a><\/strong>, hosted on Edx. This introductory CompSci course teaches you the basics of algorithmic thinking, problem solving and coding languages like C, JavaScript and SQL in about 12 weeks\u2019 time, but you can speed through or slow it down to your liking. The Harvardx online program offers tons of other useful courses like <strong><a href=\"https:\/\/pll.harvard.edu\/course\/cs50s-introduction-artificial-intelligence-python?delta=0\">CS50's Introduction to Artificial Intelligence with Python<\/a><\/strong>, <strong><a href=\"https:\/\/www.edx.org\/course\/quantitative-methods-for-biology?index=product&queryID=42e2cf46fecf1b1e181ed5d2dc70fd6d&position=5\">Quantitative Methods for Biology<\/a><\/strong> and <strong><a href=\"https:\/\/www.edx.org\/course\/the-climate-energy-challenge?index=product&queryID=f8d24e320d53c86d08f411774b627165&position=13\">The Climate-Energy Challenge<\/a><\/strong><strong>. <\/strong>An expanded version of these courses with graded assignments, feedback, and a certificate are also available, but come at an added cost.<\/p>\n<p><strong>Massachusetts Institute of Technology <\/strong>boasts one of the most extensive catalogs on this list with materials from over 2.5k courses listed on its site. You\u2019ll find everything from Fine Arts to Engineering and Mathematics at both the graduate and undergraduate level available on MIT\u2019s <a href=\"https:\/\/ocw.mit.edu\/\">OpenCourseWare<\/a> portal or <a href=\"https:\/\/www.edx.org\/school\/mitx\">Edx<\/a>. Check out an instructor-led course like <a href=\"https:\/\/www.edx.org\/course\/probability-the-science-of-uncertainty-and-data\">Probability \u2014 The Science of Uncertainty and Data<\/a> or move at your own pace with <a href=\"https:\/\/www.edx.org\/course\/cybersecurity-clinic\">Cybersecurity for Critical Urban Infrastructure<\/a>. Also worth a mention: <a href=\"https:\/\/www.edx.org\/course\/just-money-banking-as-if-society-mattered\">Just Money: Banking as if Society Mattered<\/a> and <a href=\"https:\/\/www.edx.org\/course\/supply-chain-analytics\">Supply Chain Analytics<\/a>.<\/p>\n<p><strong>Princeton: <\/strong>Princeton has a slightly more trim online catalog than other Ivy League schools, comprising some 19 courses by our count, but covers a lot of basics. Hosted between online education platforms <a href=\"https:\/\/www.coursera.org\/search?query=princeton&index=prod_all_launched_products_term_optimization&ranMID=40328&ranMID=40328&ranEAID=EHFxW6yx8Uo&ranEAID=EHFxW6yx8Uo&ranSiteID=EHFxW6yx8Uo-MyM.tR6yjHhUvh6..4H.jQ&ranSiteID=EHFxW6yx8Uo-O3zZTTAleeTeGP1OD616pA&siteID=EHFxW6yx8Uo-MyM.tR6yjHhUvh6..4H.jQ&siteID=EHFxW6yx8Uo-O3zZTTAleeTeGP1OD616pA&utm_content=10&utm_content=10&utm_medium=partners&utm_medium=partners&utm_source=linkshare&utm_source=linkshare&utm_campaign=EHFxW6yx8Uo&utm_campaign=EHFxW6yx8Uo\">Coursera<\/a> and <a href=\"https:\/\/www.edx.org\/school\/princetonx?source=aw&awc=6798_1646765035_a1c17fff5baf2066b7b2f0528a706075&utm_source=aw&utm_medium=affiliate_partner&utm_content=text-link&utm_term=257137_Business+Insider\">Edx<\/a>, their <strong><a href=\"https:\/\/www.businessinsider.com\/reviews\/out?platform=browser&postSource=bi%7C61df3ee60f84c037849ec015&sc=false&type=LINK-WITH-REVIEW-SLASH-OUT&u=https%3A%2F%2Fwww.coursera.org%2Flearn%2Falgorithms-part1&sessionid=16467360671975pzpgdv2\">Algorithms, Part 1<\/a><\/strong> and <strong><a href=\"https:\/\/www.coursera.org\/learn\/cryptocurrency?ranMID=40328&ranEAID=EHFxW6yx8Uo&ranSiteID=EHFxW6yx8Uo-rkLViGBuV.FolYbG0RfLKw&siteID=EHFxW6yx8Uo-rkLViGBuV.FolYbG0RfLKw&utm_content=10&utm_medium=partners&utm_source=linkshare&utm_campaign=EHFxW6yx8Uo\">BTC and Cryptocurrency Technologies<\/a><\/strong> courses are among the most sought-after. Unlike other schools we\u2019ve reviewed, however, Princeton does not offer an option to pay for a certificate of completion.<\/p>\n<p><strong>Columbia University<\/strong> currently has about 30 courses without charge up on Edx that dive into everything from history to finance. Check out their four-week Introduction to Corporate Finance course to help you decide if you\u2019d like to pursue an MBA or simply for the sake of better understanding the rules of finance. <a href=\"https:\/\/www.coursera.org\/specializations\/financialengineering?ranMID=40328&ranEAID=EHFxW6yx8Uo&ranSiteID=EHFxW6yx8Uo-.P.8AAbA.vg9f1ND4qdbZA&siteID=EHFxW6yx8Uo-.P.8AAbA.vg9f1ND4qdbZA&utm_content=10&utm_medium=partners&utm_source=linkshare&utm_campaign=EHFxW6yx8Uo\">Financial Engineering and Risk Management Specialization<\/a> might also be helpful. Also worth a look: <a href=\"https:\/\/www.coursera.org\/learn\/sustainable-development\">The Age of Sustainable Development<\/a> and <a href=\"https:\/\/www.edx.org\/course\/wage-work-for-women-citizens-1870-1920\">Wage Work for Women Citizens: 1870-1920<\/a>.<\/p>\n<p><strong>Yale University:<\/strong> Standing at 52 courses strong, Yale\u2019s offerings generally skew basic and introductory. Interestingly however, their most famous course of all time happens to be <a href=\"https:\/\/www.coursera.org\/learn\/the-science-of-well-being\">The Science of Well-Being<\/a>, where students are meant to embark on \u201cchallenges designed to increase your own happiness and build more productive habits.\u201d Some 3.8 mn people have previously enrolled and demand for the actual in-person version of this course at Yale was so high that the university <a href=\"https:\/\/www.businessinsider.com\/guides\/learning\/coursera-yale-science-of-wellbeing-free-course-review-overview\">had to enlist<\/a>the help of neighboring professors for instruction. But if self care isn\u2019t your thing, another popular one worth a look is this 33-hour crash course on <strong><a href=\"https:\/\/www.coursera.org\/learn\/financial-markets-global?action=enroll\">Financial Markets<\/a><\/strong>.<\/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\/columbia-university\/\">Columbia University<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/coursera\/\">Coursera<\/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\/edx\/\">Edx<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mit\/\">MIT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/virtual-learning\/\">virtual learning<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"544651\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/544651\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-544651\" class=\"content-area-description single-story post-544651 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>March: <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/304519788385115\">Rollout<\/a> of the government financial management information system (GFMIS), a suite of electronic tools to automate the government\u2019s financial management processes (<a href=\"https:\/\/ent.news\/2021\/7\/tnm1007.pdf\">pdf<\/a>) that will replace the existing \u201cclosed\u201d financial management system.<\/p>\n<p>March: 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 annual <a href=\"https:\/\/www.facebook.com\/mift.media\/posts\/291436426360972\">Cairo International Fair<\/a>.<\/p>\n<p>Mid-March: Bidding for the construction of Anchorage Investments\u2019 petrochemical complex in the Suez Canal Economic Zone starts.<\/p>\n<p>15 March: <a href=\"https:\/\/www.exportsmart.net\/\">Export Smart<\/a> conference, Royal Maxim Palace Kempinski, Cairo.<\/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>22 March (Tuesday): Egyptian German Green Energy Forum, 5:30-9:30pm CLT, InterContinental Cairo Semiramis.<\/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 <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3a67dcca-de16-4313-b330-60fc1a21e6db\">Egypt-Sudan electricity interconnection<\/a> 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":544623,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-544622","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"913913c9-a7b4-4525-8c15-ab3f84b51065","teaser":"","photo_url":"https:\/\/ent.news\/2022\/3\/159.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>Temporary reprieve from Black Sea wheat blackout as cargoes head to Egypt - 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\/temporary-reprieve-from-black-sea-wheat-blackout-as-cargoes-head-to-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Temporary reprieve from Black Sea wheat blackout as cargoes head to Egypt\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/temporary-reprieve-from-black-sea-wheat-blackout-as-cargoes-head-to-egypt\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T20:44:46+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\/159.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\/temporary-reprieve-from-black-sea-wheat-blackout-as-cargoes-head-to-egypt\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/temporary-reprieve-from-black-sea-wheat-blackout-as-cargoes-head-to-egypt\/\",\"name\":\"Temporary reprieve from Black Sea wheat blackout as cargoes head to Egypt - 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