{"id":545554,"date":"2022-04-04T04:02:22","date_gmt":"2022-04-04T04:02:22","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=545554"},"modified":"2025-12-15T21:06:51","modified_gmt":"2025-12-15T21:06:51","slug":"domty-and-giza-systems-offer-us-rare-ramadan-time-ma-news","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/domty-and-giza-systems-offer-us-rare-ramadan-time-ma-news\/","title":{"rendered":"Domty and Giza Systems offer us rare Ramadan-time M&#038;A news"},"content":{"rendered":"<section id=\"545556\" 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=\"545556\">\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\/04\/04\/this-morning-ramadan-ad-drama-look-out-for-a-landmark-un-climate-report\/\">\r\n                            THIS MORNING: Ramadan ad drama + look out for a landmark UN climate report                        <\/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\/04\/04\/this-morning-ramadan-ad-drama-look-out-for-a-landmark-un-climate-report\/\" 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\/04\/04\/this-morning-ramadan-ad-drama-look-out-for-a-landmark-un-climate-report\/')\">\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\/04\/04\/this-morning-ramadan-ad-drama-look-out-for-a-landmark-un-climate-report\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=THIS MORNING: Ramadan ad drama + look out for a landmark UN climate report&url=https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/this-morning-ramadan-ad-drama-look-out-for-a-landmark-un-climate-report\/\">\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\/04\/04\/this-morning-ramadan-ad-drama-look-out-for-a-landmark-un-climate-report\/&title=THIS MORNING: Ramadan ad drama + look out for a landmark UN climate report\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=THIS+MORNING%3A+Ramadan+ad+drama+%2B+look+out+for+a+landmark+UN+climate+report+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F04%2F04%2Fthis-morning-ramadan-ad-drama-look-out-for-a-landmark-un-climate-report%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\/04\/04\/this-morning-ramadan-ad-drama-look-out-for-a-landmark-un-climate-report\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545556\" class=\"content-area-description single-story post-545556 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-cds tag-climate-change tag-enterpriseam tag-esg tag-ramadan tag-rub tag-russia-ukraine-war tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Good morning, ladies and gentlemen, and happy Monday. <\/strong>News flow has slowed down a little bit today, but there\u2019s still plenty of meaty corporate stories to keep us all busy.<\/p><p><strong>The traditional Ramadan killing of ads has begun<\/strong>, with the <a href=\"https:\/\/www.facebook.com\/scmediaeg\/posts\/281801674115585\">nation\u2019s media regulator<\/a> ordering Dice\u2019s underwear ad off the air after reportedly receiving complaints from the Doctor\u2019s Syndicate. You can catch the offending ad <a href=\"https:\/\/www.youtube.com\/watch?v=INuBchhyHWk\">here, at least for the time being (watch, runtime: 1:10)<\/a>. Ah, for the days of <a href=\"https:\/\/enterprise.press\/stories\/2016\/06\/13\/consumer-protection-agency-takes-juhayna-birell-cottonil-dice-ads-off-air\/\">dandoo\u2026<\/a><\/p><p><strong>Okay, but was it funny? <\/strong>We\u2019re split here. Some of us found it hilarious. Others, meh.<\/p><p><strong>ALSO: Is anyone else finding the ratio of \u201ccontent\u201d to advertisement more skewed in <\/strong><strong>favour of ads than usual <\/strong>this year? The resident 14-year-old was growling last night that it felt as if there were 15 minutes of ads for every four minutes of content on Ramez\u2019s latest hidden camera \/ prank \u201cshow.\u201d (Yes, it is a failing of parenting on our part that she looks forward to Ramez each year.)<\/p><p><strong>SO, WHEN DO WE EAT?<\/strong> You\u2019ll be breaking your fast at 6:15pm CLT this evening in the capital city, and fajr prayers are at 4:12am.<\/p><p><strong>H\/t to reader Hisham H<\/strong>, who wrote in to let us know that (a) the chocolate with orange peel is the best stuffed date (following up on our shout-out to <a href=\"https:\/\/www.instagram.com\/mokochocolates\/?hl=en\">M\u014dko<\/a>) (b) and pointed out that the maghrib and fajr prayer times we included yesterday were arguably a few minutes off. Our go to is <a href=\"https:\/\/www.islamicfinder.org\/\">Islamic Finder<\/a>, but the Egyptian General Survey Authority\u2019s <a href=\"https:\/\/www.esa.gov.eg\/Emskaya.aspx\">official calendar<\/a> lets you check exact times based on your city and governorate, and matches up with that <a href=\"https:\/\/www.facebook.com\/EgyptDarAlIfta\/posts\/363081865851435\">used by Dar Al Iftaa<\/a>. We\u2019ll be using their official Cairo schedule for the remainder of the holy month.<\/p><p><strong>DATA POINT of the morning- <\/strong>Investors have poured some EGP 401 bn into 18% CDs launched by Banque Misr and the National Bank of Egypt (NBE) as of Sunday, <a href=\"https:\/\/bit.ly\/3x0OUln\">Masrawy<\/a> reports, citing sources at the two lenders. The CDs were <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d34fde27-bb5d-4393-8c4d-b149d636663d\">launched<\/a> two weeks ago, following the central bank\u2019s 100-bps interest rate hike.<\/p><p><strong>KEEP YOUR EYE ON THIS- The UN\u2019s latest climate report could be published today \u2014 if the politicians can <\/strong><strong>get out of the way. <\/strong>The UN\u2019s <a href=\"https:\/\/www.ipcc.ch\/\">Intergovernmental Panel on Climate Change<\/a> should be releasing the latest report in its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8cfa8d82-a0f6-4f7a-8ab2-71c52e5f156d\">current assessment cycle<\/a> today, which will give concrete recommendations on how to limit global warming to 1.5 degrees this century ahead of COP27 in Sharm El Sheikh. But while the science isn\u2019t up for debate, talks between researchers and governments over the wording of a summary of the findings have reached a gridlock, the <a href=\"https:\/\/apnews.com\/article\/climate-united-nations-paris-europe-environment-ab591f2cae6a14adb294492e6b10441b\">Associated Press<\/a> reports, citing anonymous observers.<\/p><p><strong>What\u2019s the snag? <\/strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b1bbc9c2-62f0-4ef2-a692-e1619ac4b285\">Major coal user<\/a> India is reportedly among key players pushing for recognition that wealthy countries (who have contributed the most to historical emissions) should bear the brunt of carbon cuts and provide financing to ease the developing world\u2019s green transition. If that sounds familiar, it\u2019s because our government is pushing <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/90dd138b-a7f8-4d0f-9f81-23396ecd5f91\">some of the same priorities<\/a> for the African continent ahead of the November climate summit.<\/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>PSA- The Financial Regulatory Authority (FRA) is <\/strong><strong><a href=\"https:\/\/ent.news\/2022\/4\/%D8%A7%D8%B5%D9%88%D9%84-%D8%A7%D9%84%D9%85%D9%85%D8%AA%D9%84%D9%83%D8%A7%D8%AA-%D8%A7%D9%84%D9%85%D8%A4%D9%85%D9%86-%D8%B9%D9%84%D9%8A%D9%87%D8%A7.pdf\">calling (pdf)<\/a><\/strong><strong> on property and <\/strong><strong>liability ins. holders <\/strong><strong>to review the value of their properties<\/strong><strong> and update ins. providers<\/strong>. Some ins. plans include a proportionality clause that comes into effect when there is a change in the asset\u2019s market value \u2014 following, for example, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8b55986a-5bf0-4548-a969-7607bcf4f50e\">last month\u2019s currency devaluation<\/a> \u2014 meaning that if your property has become worth more than your policy, the full value may no longer be ins.d and you could take a hit on the loss that isn\u2019t covered.<\/p><p> <strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>Companies have a little over two weeks to file their first quarterly ESG compliance <\/strong><strong>report: <\/strong>Listed firms and non-bank financial services companies need to submit their first quarterly ESG report by 20 April, the Financial Regulatory Authority (FRA) <a href=\"https:\/\/fra.gov.eg\/custompdfs\/2481616-2\/\">announced<\/a> last week.<\/p><p><strong>Didn\u2019t we say yesterday that the deadline was 10 April?<\/strong> Yes, we did, per <a href=\"https:\/\/ent.news\/2022\/3\/FRA-ESG-reporting-deadline-10-April-2022.pdf\">a circular (pdf)<\/a> published by the FRA last month. The regulator has since amended the deadline, handing firms an extra 10 days to submit.<\/p><p><strong>What you need to know:<\/strong> The regulator is making it mandatory for corporates to publicly disclose their performance on key environmental, social and governance metrics each year when they submit their annual financial statements, starting 2023. <strong><a href=\"mailto:mtaalab@inktankir.com\">Reach out to Moustafa Taalab at InkankIR, our parent company, if you need some help.<\/a><\/strong><\/p><p><strong>Other upcoming dates you want to know about:<\/strong><\/p><ul>\n<li><strong>It\u2019s PMI week: <\/strong>Purchasing managers\u2019 index figures for March for Egypt, Saudi Arabia, the UAE, and Qatar <a href=\"https:\/\/www.markiteconomics.com\/Public\/Release\/ReleaseDates?language=en\">will be released<\/a> on Tuesday, 5 April. By that specific gauge, Egypt\u2019s private sector has been in contraction since November 2020. Headwinds intensifying last month due to the conflict in Ukraine are unlikely to have changed that;<\/li>\n<li><strong>Foreign reserves: <\/strong>March\u2019s foreign reserves figures will be announced some time this week;<\/li>\n<li><strong>Inflation figures<\/strong> for March are expected on Sunday, 10 April.<\/li>\n<\/ul><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><strong>MARKET WATCH-<\/strong><\/p><p><strong>Oil prices are now on the decline \u2014 but crude trader Vitol says they do not reflect <\/strong><strong>the \u201cfull risk\u201d of a shortage in Russian supplies<\/strong>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-04-03\/oil-prices-don-t-fully-reflect-russian-supply-risks-says-vitol?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> reports. \u201cOil prices could be higher given the risk of disruption of supplies from Russia,\u201d a top Vitol official said on a <a href=\"https:\/\/twitter.com\/gulf_intel\/status\/1510529492023971840?s=20&amp;t=v1ZESTyIiUXzHYOcDwhjrQ\">podcast<\/a>. \u201cBut people are still lost figuring out those numbers.\u201d Brent has slipped 13% from highs of near USD 140 after the US ordered an unprecedented release of its strategic reserves to tame prices.<\/p><p><strong>Lithuania has become the first European country to say a permanent goodbye to Russian gas, <\/strong>the Lithuanian government <a href=\"https:\/\/enmin.lrv.lt\/en\/news\/lithuania-completely-abandons-russian-gas-imports\">announced<\/a>. \u201cLithuania won't be consuming a cubic cm of toxic Russian gas,\u201d Prime Minister Ingrida Simonyte <a href=\"https:\/\/twitter.com\/IngridaSimonyte\/status\/1510508002348081156\">wrote<\/a> on Twitter yesterday.<\/p><p><strong>Russia threatens to price more of its exports in RUB: <\/strong>Russia\u2019s RUB-for-gas scheme is a \u201cprototype\u201d and could soon expand to more exports, the Kremlin\u2019s spokesman told Russian state TV, according to <a href=\"https:\/\/www.reuters.com\/world\/kremlin-warns-west-rouble-for-gas-scheme-is-prototype-2022-04-03\/\">Reuters<\/a>. \"It is the prototype of the system \u2026 I have no doubt that it will be extended to new groups of goods,\" Dmitry Peskov said.<\/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> We take a deep dive into how the inflationary environment is impacting private school enrollment. As prices rise, more children are transferring to less expensive private schools, sources tell us. But so high is the demand for private education that high and upper-middle income schools aren\u2019t seeing enrollment rates fall. Middle-income schools, though, could see changes in the composition of their applicants \u2013 and it\u2019s new schools that are most at risk of an enrollment slowdown, some in the industry say.<\/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\/cds\/\">CDs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/esg\/\">ESG<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ramadan\/\">Ramadan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/rub\/\">RUB<\/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\/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=\"545557\" 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=\"545557\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/545557\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545557\" class=\"content-area-description single-story post-545557 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/somabay.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/SOMA-ENTERPRISEFOOTGOLFFINAL-1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n<p>Let\u2019s Footgolf and go on an adventure. Explore a Floodlit 9 Hole Footgolf Course at Somabay Golf, the first of its kind in Egypt. From Friday to Monday, 6pm-10pm. For more information, kindly visit: https:\/\/somabay.com\/golf\/<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"545558\" 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=\"545558\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/offshore-group-including-company-execs-make-a-play-for-domty\/\">\r\n                            Offshore group including company execs make a play for Domty                        <\/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\/04\/04\/offshore-group-including-company-execs-make-a-play-for-domty\/\" 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\/04\/04\/offshore-group-including-company-execs-make-a-play-for-domty\/')\">\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\/04\/04\/offshore-group-including-company-execs-make-a-play-for-domty\/\">\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=Offshore group including company execs make a play for Domty&url=https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/offshore-group-including-company-execs-make-a-play-for-domty\/\">\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\/04\/04\/offshore-group-including-company-execs-make-a-play-for-domty\/&title=Offshore group including company execs make a play for Domty\">\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=Offshore+group+including+company+execs+make+a+play+for+Domty+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F04%2F04%2Foffshore-group-including-company-execs-make-a-play-for-domty%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\/04\/04\/offshore-group-including-company-execs-make-a-play-for-domty\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/106.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"545559\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/offshore-group-including-company-execs-make-a-play-for-domty\/106-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/106.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"106.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/106.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/106.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545558\" class=\"content-area-description single-story post-545558 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-domty tag-enterpriseam tag-ma-watch tag-manufacturing tag-mohamed-el-akhdar wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Domty up for grabs:<\/strong> A group led by Expedition Investments has submitted a non-binding offer for a majority stake in cheese maker <a href=\"https:\/\/www.domty.org\/en\/content\/who-we-are\">Domty<\/a>, the company announced in a <a href=\"https:\/\/ent.news\/2022\/4\/%D8%AF%D9%88%D9%85%D8%AA%D9%89-%D8%A8%D9%8A%D8%A7%D9%86-03-04-2022.pdf\">statem<\/a><a href=\"https:\/\/ent.news\/2022\/4\/%D8%AF%D9%88%D9%85%D8%AA%D9%89-%D8%A8%D9%8A%D8%A7%D9%86-03-04-2022.pdf\">ent (pdf)<\/a> to the EGX. The group is looking to acquire up to 90% of the food producer at EGP 5.00 per share, according to a <a href=\"https:\/\/ent.news\/2022\/4\/FRA-on-Domty.pdf\">statement<\/a> by the FRA to the bourse. The transaction could be valued at nearly EGP 1.3 bn if it goes through, based on our math.<\/p>\n<p><strong>Domty\u2019s shares soared 14.2% <\/strong>on the back of the offer to close at EGP 4.50 apiece yesterday.<\/p>\n<p><strong>So who\u2019s mounting the bid? <\/strong>Investors from Egypt and the Gulf, according to a source close to the transaction. Execs who are members of the Domty\u2019s founding family, including Omar El Damaty (the company\u2019s current chairman and MD) and Mohamed El Damaty (vice-chairman) are also on board and hold minority stakes in Expedition. The company is domiciled in Mauritius and counts veteran investment banker Mohamed El Akhdar as a board member. It was established on 21 March, according to the Mauritius company register.<\/p>\n<p><strong>Expedition wants to do the due diligence process<\/strong> on Domty \u201cas soon as possible,\u201d a company <a href=\"https:\/\/ent.news\/2022\/4\/Maatouk.pdf\">statement<\/a> said, with a mandatory tender offer contingent on the outcome of due diligence and regulatory approvals.<\/p>\n<p><strong>Domty isn\u2019t being expatriated<\/strong>, our source tells us. Though Expedition is an offshore special purpose vehicle, this transaction is about private equity changing hands, not a relocation for the Egyptian firm. Mauritius is a common jurisdiction for takeover vehicles that have raised foreign capital as well as for funds raised by private equity firms.<\/p>\n<p><strong>Matouk Bassiouny & Hennawy <\/strong>is advising Expedition, according to the statement..<\/p>\n<p><strong>Expedition will have more to say about the <\/strong><strong>transaction in the coming weeks<\/strong>, our sources tell us.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/domty\/\">Domty<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-el-akhdar\/\">Mohamed El Akhdar<\/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=\"545560\" 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=\"545560\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/b-investments-exits-giza-systems-to-stc-subsidiary\/\">\r\n                            B Investments exits Giza Systems to STC subsidiary                        <\/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\/04\/04\/b-investments-exits-giza-systems-to-stc-subsidiary\/\" 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\/04\/04\/b-investments-exits-giza-systems-to-stc-subsidiary\/')\">\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\/04\/04\/b-investments-exits-giza-systems-to-stc-subsidiary\/\">\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=B Investments exits Giza Systems to STC subsidiary&url=https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/b-investments-exits-giza-systems-to-stc-subsidiary\/\">\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\/04\/04\/b-investments-exits-giza-systems-to-stc-subsidiary\/&title=B Investments exits Giza Systems to STC subsidiary\">\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=B+Investments+exits+Giza+Systems+to+STC+subsidiary+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F04%2F04%2Fb-investments-exits-giza-systems-to-stc-subsidiary%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\/04\/04\/b-investments-exits-giza-systems-to-stc-subsidiary\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/108.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"545561\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/b-investments-exits-giza-systems-to-stc-subsidiary\/108-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/108.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"108.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/108.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/108.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545560\" class=\"content-area-description single-story post-545560 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-b-investments tag-enterpriseam tag-giza-systems tag-investment-watch tag-saudi-telecom-company tag-solutions-by-stc 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><a href=\"https:\/\/binvestmentsegypt.com\/\">B Investments<\/a><\/strong><strong> is selling its entire 44.7% stake in engineering subsidiary <\/strong><strong><a href=\"https:\/\/gizasystems.com\/\">Giza<\/a><\/strong><strong><a href=\"https:\/\/gizasystems.com\/\">Systems<\/a><\/strong><strong> to Saudi Telecom\u2019s internet subsidiary, <\/strong>the Egyptian private equity firm said in a <a href=\"https:\/\/ent.news\/2022\/4\/BINV_Giza_Systems_Press_Release_English.pdf\">statement<\/a><a href=\"https:\/\/ent.news\/2022\/4\/BINV_Giza_Systems_Press_Release_English.pdf\">(pdf)<\/a>. B Investments\u2019 board accepted an undisclosed binding offer for the shares from <a href=\"https:\/\/solutions.com.sa\/news\/\">Solutions by STC<\/a> that would value Giza Systems at USD 145 mn, the statement read.<\/p>\n<p><strong>A turnaround for Giza Systems:<\/strong> A pioneer of what was once called the \u201cIT\u201d industry, the systems integrator has been in the market since the 1970s and lost a step in the marketplace prior to B Investments\u2019 <a href=\"https:\/\/binvestmentsegypt.com\/portfolio\/giza-systems\/\">acquisition in 2006<\/a>. The company now positions itself as a digital transformation specialist with some 1.4k professionals working across the Middle East and Africa providing \u201cindustry-specific technology solutions for asset-intensive industries\u201d including telecoms, utilities, and oil and gas.<\/p>\n<p><strong>The usual caveats: <\/strong>The final value of the shares will be decided based on Giza Systems\u2019 net debt and working capital at the close of the transaction, which is still pending final documentation and regulatory approvals, the statement read.<\/p>\n<p><strong>SOUND SMART- The Saudi telecom giant\u2019s internet arm debuted on the Riyadh exchange <\/strong><strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-09-30\/saudi-internet-services-firm-surges-on-debut-amid-gulf-ipo-rush?sref=mmeFTDW1\">last September<\/a><\/strong> in a transaction that valued the firm at some SAR 18.1 bn (USD 4.8 billion).<\/p>\n<p><strong>This marks the latest in a stream of recent news about incoming M&A and investment from the Gulf to Egypt, <\/strong>on both the public and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e5f0842e-f8fe-4bbe-ae01-41a01dc21e33\">private<\/a> side of things. Yes, our GCC neighbors are stepping in to offer us a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b620f717-d83d-4c48-906c-a85dca2eff2a\">helping hand<\/a> in a time of crisis \u2014 but this kind of news also underscores that many Egyptian sectors and firms offer an increasingly attractive proposition for regional investors. More of this, please.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/b-investments\/\">B Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/giza-systems\/\">Giza Systems<\/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\/saudi-telecom-company\/\">Saudi Telecom Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/solutions-by-stc\/\">Solutions by STC<\/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=\"545562\" 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=\"545562\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/mental-health-startup-o7-therapy-raises-usd-2-1-mn-seed-round-flat6-launches-new-saudi-fund\/\">\r\n                            Mental health startup O7 Therapy raises USD 2.1 mn seed round + Flat6 launches new Saudi fund                        <\/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\/04\/04\/mental-health-startup-o7-therapy-raises-usd-2-1-mn-seed-round-flat6-launches-new-saudi-fund\/\" 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\/04\/04\/mental-health-startup-o7-therapy-raises-usd-2-1-mn-seed-round-flat6-launches-new-saudi-fund\/')\">\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\/04\/04\/mental-health-startup-o7-therapy-raises-usd-2-1-mn-seed-round-flat6-launches-new-saudi-fund\/\">\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=Mental health startup O7 Therapy raises USD 2.1 mn seed round + Flat6 launches new Saudi fund&url=https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/mental-health-startup-o7-therapy-raises-usd-2-1-mn-seed-round-flat6-launches-new-saudi-fund\/\">\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\/04\/04\/mental-health-startup-o7-therapy-raises-usd-2-1-mn-seed-round-flat6-launches-new-saudi-fund\/&title=Mental health startup O7 Therapy raises USD 2.1 mn seed round + Flat6 launches new Saudi fund\">\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=Mental+health+startup+O7+Therapy+raises+USD+2.1+mn+seed+round+%2B+Flat6+launches+new+Saudi+fund+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F04%2F04%2Fmental-health-startup-o7-therapy-raises-usd-2-1-mn-seed-round-flat6-launches-new-saudi-fund%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\/04\/04\/mental-health-startup-o7-therapy-raises-usd-2-1-mn-seed-round-flat6-launches-new-saudi-fund\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/110.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"545563\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/mental-health-startup-o7-therapy-raises-usd-2-1-mn-seed-round-flat6-launches-new-saudi-fund\/110-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/110.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"110.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/110.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/110.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545562\" class=\"content-area-description single-story post-545562 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam tag-flat6labs tag-healthcare tag-hikma-ventures tag-saudi-arabia tag-startup-watch tag-startups 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>Egyptian online mental health startup <\/strong><strong><a href=\"https:\/\/o7therapy.com\/\">O7 Therapy<\/a><\/strong><strong> has raised a USD 2.1 mn seed <\/strong><strong>round<\/strong> in what the startup says is the largest seed round for a mental health startup in the Middle East, the company announced in a <a href=\"https:\/\/ent.news\/2022\/4\/O7-Therapy-Seed-Investment-Press-Release-2.pdf\">press release (pdf)<\/a>. The round was led by UK-based VC <a href=\"https:\/\/www.hikmaventures.com\/home\/\">Hikma Ventures<\/a> with participation from corporate venture capital outfit <a href=\"http:\/\/cventureseg.com\/\">CVentures<\/a> (a unit of CIB), <a href=\"https:\/\/www.linkedin.com\/company\/the-lotus-capital\/\">Lotus Capital<\/a>, and several angel investors.<\/p>\n<p><strong>About the company: <\/strong>The online therapy platform matches users with bilingual (English and Arabic) psychiatrists and psychotherapists and connects them via online therapy sessions. It also offers employee wellness programs for organizations, an offering it plans to expand across the region with the help of the funding round.<\/p>\n<p><strong>Where the money\u2019s going? <\/strong>O7 Therapy will use the funds to expand across the Middle East and introduce new products and features to its platform.<\/p>\n<p><strong>Hikma has been busy:<\/strong> This is the first time the pharma VC has led an investment round in the MENA region. The news comes just a few days after the announcement of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f831a7e5-3ec6-49ae-aa0c-71be6ec08815\">Altibbi\u2019s USD 44 mn series B round<\/a>, in which Hikma participated.<\/p>\n<p><strong>ALSO FROM PLANET STARTUP-<\/strong><\/p>\n<p><strong>Flat6Labs launches new Saudi seed fund:<\/strong> Flat6Labs and the Saudi Venture Capital Company have launched a new seed fund in Saudi Arabia that is expected to back more than 60 early-stage startups over the next three years, according to <a href=\"https:\/\/ent.news\/2022\/4\/Flat6Labs-Riyadh-Fund-PRL_EN-2.pdf\">a joint press release<\/a> quoting our friend Ramez El Serafy, Flat6\u2019s CEO, and SVC chief Nabeel Koshak. The two VCs hope to raise SAR 150 mn (c. EGP 732 mn) over the next 12 months for their Startup Seed Fund, with Blominvest marketing the fund and taking sole responsibility for fundraising in Saudi Arabia.<\/p>\n<p><strong>Outsourcing fundraising to an outfit like Blominvest is fairly novel <\/strong>and frees the VCs to focus on building and managing their portfolio \u2014 an interesting approach.<\/p>\n<p><strong>Ticket size:<\/strong> The fund will commit between SAR 750k to SAR 1.5 mn (c. EGP 4 mn - EGP 7 mn) to each company, and follow-on funding will be made available to support expansion inside the kingdom and abroad, the statement said. The fund aims to back some 180 entrepreneurs in the kingdom and create c. 6k private-sector jobs while helping Saudi companies expand regionally.<\/p>\n<p><strong>The fund will run a four-month Flat6Labs Riyadh Seed Program twice a year<\/strong> for a three-year period. Its first cycle is set to begin in the third quarter of this year.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/flat6labs\/\">Flat6Labs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hikma-ventures\/\">Hikma Ventures<\/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\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"545564\" 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=\"545564\">\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\">Manufacturing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/edita-inaugurates-its-moroccan-production-facility\/\">\r\n                            Edita inaugurates its Moroccan production facility                        <\/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\/04\/04\/edita-inaugurates-its-moroccan-production-facility\/\" 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\/04\/04\/edita-inaugurates-its-moroccan-production-facility\/')\">\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\/04\/04\/edita-inaugurates-its-moroccan-production-facility\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Edita inaugurates its Moroccan production facility&url=https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/edita-inaugurates-its-moroccan-production-facility\/\">\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\/04\/04\/edita-inaugurates-its-moroccan-production-facility\/&title=Edita inaugurates its Moroccan production facility\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Edita+inaugurates+its+Moroccan+production+facility+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F04%2F04%2Fedita-inaugurates-its-moroccan-production-facility%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\/04\/04\/edita-inaugurates-its-moroccan-production-facility\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/112.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"545565\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/edita-inaugurates-its-moroccan-production-facility\/112-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/112.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"112.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/112.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/112.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545564\" class=\"content-area-description single-story post-545564 post type-post status-publish format-standard has-post-thumbnail hentry category-manufacturing tag-edita tag-enterpriseam tag-food-and-beverage tag-manufacturing wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Edita Food Industries has officially inaugurated its Moroccan plant<\/strong>, according to a company <a href=\"https:\/\/ent.news\/2022\/4\/Edita-PR-Morocco-Inauguration-E.pdf\">statement<\/a><a href=\"https:\/\/ent.news\/2022\/4\/Edita-PR-Morocco-Inauguration-E.pdf\">(pdf)<\/a>. The snackfoods giant <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fb75c32a-72b5-4bc0-9bf9-8b8042777dc8\">started operations<\/a> in December at the facility, which is the company\u2019s first greenfield investment outside of Egypt and marks its transformation from manufacturer that exports to a host of regional markets into a true multinational with offshore operations. Catch a recording of the livestreamed inauguration ceremony here (<a href=\"https:\/\/www.youtube.com\/watch?v=48GVmvG1xaw\">watch, runtime: 7:30<\/a>) and lots of additional highlights <a href=\"https:\/\/www.facebook.com\/EditaEgypt\/videos\/509161064191614\/?extid=NS-UNK-UNK-UNK-IOS_GK0T-GK1C&ref=sharing\">here<\/a>, <a href=\"https:\/\/www.facebook.com\/EditaEgypt\/videos\/414824923738624\/?extid=NS-UNK-UNK-UNK-IOS_GK0T-GK1C&ref=sharing\">here<\/a> and here.<\/p>\n<p><strong>About the facility: <\/strong>The company has so far invested MAD 203 mn (some EGP 382.5 mn) in the plant outside Casablanca, according to the statement, including initial investments of EGP 200 mn up to December. The factory employs 300 Moroccan citizens and produces three variations of Edita\u2019s HOHOs cakes. The facility is operated by Edita Food Industries Morocco, a joint venture set up between Edita and Moroccan FMCG distributor Dislog Group. Edita holds a 77% stake in the company and Dislog holds 20%.<\/p>\n<p><strong>It\u2019s wonderful to see a regional country rolling out the red carpet for an Egyptian company as the \u201cArab foreign investor.\u201d <\/strong>Edita chief Hani Berzi and Dislog\u2019s Moncef Belkhayat were joined by Moroccan Industry Minister Ryad Mezzour, who positioned the Edita investment as being a play on \u201cthe strengths of the Moroccan agri-food sector and \u2026 in line with its future priorities to meet global consumer demand.\u201d<\/p>\n<p><strong>More expansion to come abroad\u2026<\/strong> Edita is set to pour an additional MAD 170 mn (EGP 320.3 mn) into a second phase of expansions at the factory, with plans to employ another 400 people, add production lines, and introduce more products to the Moroccan market, the statement read. Edita is \u201cpivoting from a focus on recovery and resilience to expansion mode,\u201d the company said<\/p>\n<p><strong>\u2026and at home: <\/strong>in its most recent <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/518fce07-520a-43e7-b27e-070b1cb12dca\">earnings release<\/a>, Edita said it plans <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0c91bcc7-534c-429b-bdfe-d78a797de765\">to invest<\/a> around EGP 400 mn to add new production lines for its baked goods and wafers segments in Egypt this year, as well as to expand to at least one new market in 2022 and another in the next five years.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/edita\/\">Edita<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food-and-beverage\/\">food and beverage<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/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=\"545566\" 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=\"545566\">\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\">WAR WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/ukraine-un-eu-call-for-independent-investigation-more-sanctions-as-evidence-mounts-of-alleged-russian-war-crimes\/\">\r\n                            Ukraine, UN, EU call for independent investigation, more sanctions as evidence mounts of alleged Russian war crimes                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/113.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"545567\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/ukraine-un-eu-call-for-independent-investigation-more-sanctions-as-evidence-mounts-of-alleged-russian-war-crimes\/113-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/113.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"113.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/113.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/113.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545566\" class=\"content-area-description single-story post-545566 post type-post status-publish format-standard has-post-thumbnail hentry category-war-watch tag-enterpriseam tag-russia-ukraine-war 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-05\"><\/a> <strong>International<\/strong><strong> outrage is mounting as evidence emerges of <\/strong><strong>alleged war crimes<\/strong> <strong>by Russian soldiers in Ukraine: <\/strong>Images of the carnage left in the wake of the Russian military\u2019s withdrawal from western parts of the country \u2014 including <a href=\"https:\/\/www.reuters.com\/world\/europe\/ukraine-says-410-bodies-found-near-kyiv-witnesses-traumatised-2022-04-03\/\">reports<\/a> from the Ukrainian side of mass executions of civilians \u2014 has led to a fresh wave of condemnation and promises of consequences in the geopolitical arena.<\/p>\n<p><strong>Ukraine is requesting the International Criminal Court gather evidence<\/strong> of alleged war crimes by Russian troops in Bucha, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-04-03\/ukraine-update-russia-says-talks-with-kyiv-to-resume-monday?srnd=premium-middle-east&sref=mmeFTDW1%27\">Bloomberg<\/a>. Asked to comment by the business information service, Kremlin spokesman Dmitry Peskov said many of the images were \u201cfakes and staged shots.\u201d<\/p>\n<p><strong>Guterres calls for an independent investigation: <\/strong>United Nations Secretary-General Antonio Guterres said in a <a href=\"https:\/\/twitter.com\/antonioguterres\/status\/1510665266954440708?s=20&t=EAfAdt9n1GdbkoQj8EkPqw\">tweet<\/a> that he was \u201cdeeply shocked\u201d by the images coming out of Bucha, adding that \u201cit is essential that an independent investigation leads to effective accountability.\u201d<\/p>\n<p><strong>And the EU prepares more sanctions: <\/strong>Further sanctions and support for Ukraine are \u201con their way,\u201d European Council President Charles Michel said in a <a href=\"https:\/\/twitter.com\/eucopresident\/status\/1510542585454022660?cxt=HHwWiMCygc6ew_YpAAAA\">tweet<\/a>, calling the images from Bucha \u201chaunting.\u201d New sanctions could will for now focus on \u201cclosing loopholes [and] strengthening existing actions,\u201d including making sure Russian banks are completely cut off from the SWIFT payment system and sanctioning more individuals, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-04-03\/europe-warns-russia-faces-new-sanctions-for-war-crimes?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a> reports citing diplomatic sources. Some members of the bloc are calling for harsher action, with Germany among those promising \u201cfurther measures\u201d to come.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia-ukraine-war\/\">Russia-Ukraine war<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/war-watch\/\">war watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"545568\" 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=\"545568\">\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\">Capital markets<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/efg-hermes-again-tops-egypt-league-table-nbe-dominates-bloomberg-syndicated-loan-table\/\">\r\n                            EFG Hermes again tops Egypt league table, NBE dominates Bloomberg syndicated loan table                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/efg-hermes-again-tops-egypt-league-table-nbe-dominates-bloomberg-syndicated-loan-table\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/efg-hermes-again-tops-egypt-league-table-nbe-dominates-bloomberg-syndicated-loan-table\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/efg-hermes-again-tops-egypt-league-table-nbe-dominates-bloomberg-syndicated-loan-table\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=EFG Hermes again tops Egypt league table, NBE dominates Bloomberg syndicated loan table&url=https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/efg-hermes-again-tops-egypt-league-table-nbe-dominates-bloomberg-syndicated-loan-table\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/efg-hermes-again-tops-egypt-league-table-nbe-dominates-bloomberg-syndicated-loan-table\/&title=EFG Hermes again tops Egypt league table, NBE dominates Bloomberg syndicated loan table\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=EFG+Hermes+again+tops+Egypt+league+table%2C+NBE+dominates+Bloomberg+syndicated+loan+table+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F04%2F04%2Fefg-hermes-again-tops-egypt-league-table-nbe-dominates-bloomberg-syndicated-loan-table%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/efg-hermes-again-tops-egypt-league-table-nbe-dominates-bloomberg-syndicated-loan-table\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545568\" class=\"content-area-description single-story post-545568 post type-post status-publish format-standard hentry category-capital-markets tag-brokerage-rankings tag-capital-markets tag-efg-hermes tag-enterpriseam tag-league-tables 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>EFG Hermes topped the EGX\u2019s brokerage league table once again in March<\/strong>, with a market share of 23.5%, according to <a href=\"https:\/\/ent.news\/2022\/4\/DiscDoc_ID36616_31-Mar-2022_ENG.pdf\">figures from the EGX (pdf)<\/a>. Rounding out the top five were CI Capital (11%), Al Ahly Pharos (7.9%), Arqaam (6.2%) and Cairo Capital (5.9%).<\/p>\n<p><strong>The National Bank of Egypt was at the top of Bloomberg\u2019s African syndicated loans <\/strong><strong>league table as a financing agent, lead manager and promoter in 1Q2022<\/strong>, according to a <a href=\"https:\/\/ent.news\/2022\/4\/national-bank-of-egypt-Debt-watch.pdf\">statement (pdf)<\/a> from the lender. The state-owned bank managed nine transactions worth more than EGP 35 bn during the quarter \u2014 more than any other bank in the Middle East and Africa, the statement read. The bank finished 2021 <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7552f6fa-c91c-4af3-9b74-a9076011d5e3\">at or near the top<\/a> of the league table.<\/p>\n<p><strong>MENA rankings: <\/strong>NBE came in third in the MENA region as a financing agent, and fourth as a lead manager.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/brokerage-rankings\/\">brokerage rankings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/league-tables\/\">league tables<\/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=\"545569\" 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=\"545569\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/credit-agricole-egypt-appoints-new-cfo-talaat-mostafa-group-gets-a-new-ceo\/\">\r\n                            Credit Agricole Egypt appoints new CFO + Talaat Mostafa Group gets a new CEO                        <\/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\/04\/04\/credit-agricole-egypt-appoints-new-cfo-talaat-mostafa-group-gets-a-new-ceo\/\" 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\/04\/04\/credit-agricole-egypt-appoints-new-cfo-talaat-mostafa-group-gets-a-new-ceo\/')\">\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\/04\/04\/credit-agricole-egypt-appoints-new-cfo-talaat-mostafa-group-gets-a-new-ceo\/\">\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=Credit Agricole Egypt appoints new CFO + Talaat Mostafa Group gets a new CEO&url=https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/credit-agricole-egypt-appoints-new-cfo-talaat-mostafa-group-gets-a-new-ceo\/\">\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\/04\/04\/credit-agricole-egypt-appoints-new-cfo-talaat-mostafa-group-gets-a-new-ceo\/&title=Credit Agricole Egypt appoints new CFO + Talaat Mostafa Group gets a new CEO\">\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=Credit+Agricole+Egypt+appoints+new+CFO+%2B+Talaat+Mostafa+Group+gets+a+new+CEO+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F04%2F04%2Fcredit-agricole-egypt-appoints-new-cfo-talaat-mostafa-group-gets-a-new-ceo%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\/04\/04\/credit-agricole-egypt-appoints-new-cfo-talaat-mostafa-group-gets-a-new-ceo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545569\" class=\"content-area-description single-story post-545569 post type-post status-publish format-standard hentry category-moves tag-credit-agricole tag-enterpriseam tag-kamel-el-wazir tag-moves tag-talaat-moustafa-group wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Credit Agricole Egypt<\/strong> has appointed <strong>Ravinarayanan Iyer<\/strong> (<a href=\"https:\/\/www.linkedin.com\/in\/ravinarayanan-iyer-b882929\/?originalSubdomain=in\">LinkedIn<\/a>) as its new <strong>chief <\/strong><strong>financial officer<\/strong>, replacing Hany Nassef, who <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/352700ea-2fc6-4e64-a7ec-d80eb0243f8d\">stepped down<\/a> in December, the bank announced in a <a href=\"https:\/\/ent.news\/2022\/4\/%D8%A7%D8%B7%D8%A7%D8%B1-%D8%A7%D9%86%D8%AC%D9%84%D9%8A%D8%B2%D9%89-%D9%83%D8%B1%D9%8A%D8%AF%D9%89-03-04-2022.pdf\">regulatory filing (pdf)<\/a> yesterday. The bank also appointed <strong>Osama Saleh<\/strong> as its new <strong>non-executive chairman<\/strong>, to replace Assem Ragab, whose term has ended; and <strong>Michel Le Masson<\/strong> (<a href=\"https:\/\/www.linkedin.com\/in\/michel-le-masson-78900a32\/?originalSubdomain=fr\">LinkedIn<\/a>) as <strong>non-executive vice chairman<\/strong>. All changes are pending approval from the Central Bank of Egypt.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Talaat Moustafa G<\/strong><strong>roup (TMG) chairman Tarek Talaat Mostafa <\/strong>has become a non-executive chair of the company, according to an <a href=\"https:\/\/ent.news\/2022\/4\/TMG-Holding-EGX.pdf\">EGX disclosure (pdf)<\/a>. <strong>Hisham Talaat Mostafa was reappointed <\/strong>as company CEO and managing director.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Rear Admiral Nihad Shaheen Ali<\/strong> has been appointed <strong>chairman of the <\/strong><strong>Alexandria Port Authority<\/strong> by Transport Minister Kamel El Wazir, according to a ministry <a href=\"https:\/\/www.facebook.com\/MinistryTransportation\/posts\/289899603307103\">statement<\/a>. Ali previously served as the authority\u2019s vice chairman for financial, administrative, commercial and engineering affairs, and replaces <strong>Tarek Shaheen<\/strong> who was reassigned to work as an advisor to the ministry.<\/p>\n<p>Former vice chairman of the Red Sea Ports Authority <strong>Rear Admiral Ahmed Abdel Moati Mohamed Hawash<\/strong> has been appointed <strong>chairman of the Damietta Port Authority<\/strong>, according to the statement. Hawash replaces Walid Mostafa Awad Al Sayed, whose term has ended.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/credit-agricole\/\">Credit Agricole<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kamel-el-wazir\/\">Kamel El Wazir<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/talaat-moustafa-group\/\">Talaat Moustafa Group<\/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=\"545570\" 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=\"545570\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/545570\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545570\" class=\"content-area-description single-story post-545570 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/www.sodic.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/the-estate-sodic-1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"545571\" 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=\"545571\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/last-nights-talk-shows-saudi-investments-gerd-more-ramadan-tv\/\">\r\n                            Last Night\u2019s Talk Shows: Saudi investments, GERD + more Ramadan TV                        <\/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\/04\/04\/last-nights-talk-shows-saudi-investments-gerd-more-ramadan-tv\/\" 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\/04\/04\/last-nights-talk-shows-saudi-investments-gerd-more-ramadan-tv\/')\">\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\/04\/04\/last-nights-talk-shows-saudi-investments-gerd-more-ramadan-tv\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Last Night\u2019s Talk Shows: Saudi investments, GERD + more Ramadan TV&url=https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/last-nights-talk-shows-saudi-investments-gerd-more-ramadan-tv\/\">\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\/04\/04\/last-nights-talk-shows-saudi-investments-gerd-more-ramadan-tv\/&title=Last Night\u2019s Talk Shows: Saudi investments, GERD + more Ramadan TV\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Last+Night%E2%80%99s+Talk+Shows%3A+Saudi+investments%2C+GERD+%2B+more+Ramadan+TV+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F04%2F04%2Flast-nights-talk-shows-saudi-investments-gerd-more-ramadan-tv%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\/04\/04\/last-nights-talk-shows-saudi-investments-gerd-more-ramadan-tv\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545571\" class=\"content-area-description single-story post-545571 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-enterpriseam tag-gerd tag-last-nights-talk-shows tag-ramadan tag-saudi-arabia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Gulf investments get airtime: <\/strong>Al Hekaya\u2019s Amr Adib tipped his hat to the recent helping hand we received from the KSA (<a href=\"https:\/\/www.youtube.com\/watch?v=sB68ztOhv2g\">watch, runtime: 1:14<\/a>). Saudi Arabia last week <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce28f2c9-69b3-4c78-b2ab-1eb5d194e101\">deposited USD 5 bn<\/a> with the Central Bank of Egypt (CBE) and pledged around another USD 10 bn in sovereign investments to shore up our finances, which have taken a hit due to the Ukraine war, following similar moves from the UAE and Qatar.<\/p>\n<p><strong>UK won\u2019t take a position on GERD: <\/strong>The UK supports the African Union-led negotiations between Egypt, Ethiopia and Sudan to reach a suitable solution for the ongoing dispute over the Grand Ethiopian Renaissance Dam (GERD) \u2014 but isn\u2019t looking to enter the fray directly, UK\u2019s Ambassador to Egypt Gareth Bayley said in an interview with Bel Warak W El Kalam on Saturday (<a href=\"https:\/\/www.youtube.com\/watch?v=b23B3mcrZU4\">w<\/a><a href=\"https:\/\/www.youtube.com\/watch?v=b23B3mcrZU4\">atch, runtime: 3:33<\/a>). \u201cWe don\u2019t want to complicate the situation by adding our voice officially to the issue,\u201d Bayley said.<\/p>\n<p><strong>A sprinkling of stardust as the Ramadan drama coverage continues: <\/strong>After trending on Twitter, Al Maddah 2 received some love from Al Hekaya\u2019s Amr Adib, who spoke with the show\u2019s star Hamada Helal (<a href=\"https:\/\/www.youtube.com\/watch?v=WpR2M5VdrCo\">watch, runtime: 6:29<\/a>). Maktoub Alaya star Akram Hosy joined Al Tasea in a phone-in (<a href=\"https:\/\/www.youtube.com\/watch?v=hO2Ism8hG68\">watch, runtime: 2:02<\/a>) to give us the behind the scenes scoop. Still haven\u2019t decided what to watch this Ramadan? Head to our rundown <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9320deab-5509-44fb-9ab8-0f47cfe40236\">here<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ramadan\/\">Ramadan<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"545572\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column 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src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-skymd27\" data-v=\"4\" data-block-id=\"skymd27\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-skymd27-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-skymd27-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 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class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"545573\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/egypt-in-the-news-is-mo-salah-parting-ways-with-the-national-team\/\">\r\n                            Egypt in the News: Is Mo Salah parting ways with the national team?                        <\/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 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/egypt-in-the-news-is-mo-salah-parting-ways-with-the-national-team\/&title=Egypt in the News: Is Mo Salah parting ways with the national team?\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+in+the+News%3A+Is+Mo+Salah+parting+ways+with+the+national+team%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F04%2F04%2Fegypt-in-the-news-is-mo-salah-parting-ways-with-the-national-team%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\/04\/04\/egypt-in-the-news-is-mo-salah-parting-ways-with-the-national-team\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545573\" class=\"content-area-description single-story post-545573 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-enterpriseam tag-inflation tag-mohamed-salah tag-ramadan tag-sports 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>Is Salah bowing out of international football?<\/strong> Speculation is mounting over whether Egypt\u2019s star striker Mohamed Salah has played his final game for the national team following the Pharaoh\u2019s failure to the World Cup. A video of Salah talking to his teammates following last week\u2019s loss to Senegal shows him saying that he is proud of the team \u201cwhether or not I'm here,\" a statement being interpreted as a signal he may retire from the international game. \u201cThere isn't much to say, but it has been an honor to play with you, whether or not I'm here,\u201d he says in the video, published by the Youth and Sports Ministry last week (<a href=\"https:\/\/www.facebook.com\/emysofficial\/videos\/485839909755527\/\">watch, runtime: 2:40<\/a>). <a href=\"https:\/\/news.yahoo.com\/salah-hints-retirement-egypt-world-111956068.html\">AFP<\/a> has more.<\/p>\n<p><strong>Speaking of which: Perhaps we haven\u2019t seen the last of Queiroz after all. <\/strong>Egypt\u2019s national team coach and manager Carlos Queiroz \u2014 who was reported to have left his post after last week\u2019s loss to Senegal \u2014 is in fact \u201con leave\u201d and could be back after FIFA and CAF hears the team's appeal over the match, depending on the ruling, the <a href=\"https:\/\/www.facebook.com\/efasocial\/posts\/2140246786131750\">Egyptian Football Association said<\/a>.<\/p>\n<p><strong>The holy month amid soaring food prices: <\/strong>The <a href=\"https:\/\/apnews.com\/article\/covid-science-health-indonesia-asia-6a011b7482294081a546a15e40653c10\">AP<\/a> is out with another piece on the shadow cast over Ramadan by food and energy inflation on the back of war in Ukraine.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-salah\/\">Mohamed Salah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ramadan\/\">Ramadan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sports\/\">sports<\/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=\"545574\" 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=\"545574\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/contact-nawy-sign-egp-1-bn-financing-agreement-med-wealth-funds-launch-a-colab\/\">\r\n                            Contact + Nawy sign EGP 1 bn financing agreement + Med wealth funds launch a colab                        <\/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\/04\/04\/contact-nawy-sign-egp-1-bn-financing-agreement-med-wealth-funds-launch-a-colab\/\" 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\/04\/04\/contact-nawy-sign-egp-1-bn-financing-agreement-med-wealth-funds-launch-a-colab\/')\">\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\/04\/04\/contact-nawy-sign-egp-1-bn-financing-agreement-med-wealth-funds-launch-a-colab\/\">\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=Contact + Nawy sign EGP 1 bn financing agreement + Med wealth funds launch a colab&url=https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/contact-nawy-sign-egp-1-bn-financing-agreement-med-wealth-funds-launch-a-colab\/\">\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\/04\/04\/contact-nawy-sign-egp-1-bn-financing-agreement-med-wealth-funds-launch-a-colab\/&title=Contact + Nawy sign EGP 1 bn financing agreement + Med wealth funds launch a colab\">\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=Contact+%2B+Nawy+sign+EGP+1+bn+financing+agreement+%2B+Med+wealth+funds+launch+a+colab+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F04%2F04%2Fcontact-nawy-sign-egp-1-bn-financing-agreement-med-wealth-funds-launch-a-colab%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\/04\/04\/contact-nawy-sign-egp-1-bn-financing-agreement-med-wealth-funds-launch-a-colab\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545574\" class=\"content-area-description single-story post-545574 post type-post status-publish format-standard hentry category-also-on-our-radar tag-afreximbank tag-also-on-our-radar tag-concentrix tag-contact-financial tag-efg-hermes tag-egyptair tag-el-nasr-automotive tag-enterpriseam tag-evs tag-fintech tag-healthcare tag-nawy tag-paytabs tag-real-estate tag-sovereign-fund-of-egypt tag-sovereign-wealth-funds tag-valu wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Contact + Nawy sign EGP 1 bn financing agreement:<\/strong> Contact Financial\u2019s real estate finance subsidiary will lend EGP 1 bn to clients of Nawy after signing an agreement with the proptech startup, according to <a href=\"https:\/\/ent.news\/2022\/3\/Contact-x-Nawy-PRL-final.pdf\">a statement (pdf<\/a>. Users of Nawy\u2019s real estate search engine will be able to borrow the money to purchase property found on its platform. Nawy recently <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ccc3ac47-20f2-49dd-9332-b6c7aaf2d9f7\">received an undisclosed amount<\/a> of bridge funding in a round led by the Sawiris family office.<\/p>\n<p><strong>Egypt, France and Malta\u2019s sovereign wealth funds have established a <\/strong><strong>\u201ccollaboration network\u201d <\/strong>across the Europe, Middle East and North Africa (EMENA) region, according to a <a href=\"https:\/\/ent.news\/2022\/3\/EMENA_Malta_Press-Release_English_31Mar2022.pdf\">press release (pdf)<\/a>. The Malta-based EMENA Sovereign Wealth Funds Collaborative Network aims to support investments in green technology, sustainable development, SMEs and innovation to help plug the USD 700-900 bn funding gap in the EMENA area. Spain\u2019s sovereign wealth fund has also signed an MoU pledging its intention to join.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>EgyptAir <\/strong>has partnered with EFG Hermes\u2019 digital payments subsidiary <strong>PayTabs<\/strong> and consumer finance arm <strong>valU<\/strong> to provide its customers with payment solutions to book and pay for domestic and international flights. (<a href=\"https:\/\/hapijournal.com\/?p=182133\">Hapi Journal<\/a>)<\/li>\n<li><strong>Afreximbank<\/strong> will work with <strong>Elsewedy Electric<\/strong> and <strong>three other Egyptian <\/strong><strong>companies<\/strong> to channel <strong>USD 1.5 bn of investment<\/strong> into <strong>infrastructure projects in Angola<\/strong>, the bank\u2019s head of intra-African trade finance said at an event in Cairo. (Amwal Al Ghad)<\/li>\n<li>US customer service provider <strong>Concentrix<\/strong> has opened <strong>two new call centers<\/strong> in Egypt, and plans to almost double its employee headcount in the country to 8.5k this year. (<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/371340755036351\">statement<\/a>)<\/li>\n<li><strong>Egypt is courting the African Medicines Agency<\/strong> and wants it to choose Cairo as a base for its headquarters. (<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/372291158274644\">statement<\/a>)<\/li>\n<li>State-owned firm<strong> El Nasr Automotive inked a contract with German <\/strong><strong>consulting group <\/strong><strong><a href=\"https:\/\/www.fev-consulting.com\/\">FEV<\/a><\/strong> to develop the local EV industry, after the firm helped El Nasr choose its<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2a9acf68-5e94-4b5e-9863-8b8591b32d22\">soon-to-be-announced<\/a> Chinese partner on local EV assembly. (<a href=\"https:\/\/alborsaanews.com\/2022\/04\/03\/1526983\">Al Borsa<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/afreximbank\/\">AfreximBank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/concentrix\/\">Concentrix<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/contact-financial\/\">Contact Financial<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptair\/\">EgyptAir<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/el-nasr-automotive\/\">El Nasr Automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nawy\/\">Nawy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/paytabs\/\">PayTabs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-wealth-funds\/\">Sovereign wealth funds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/valu\/\">ValU<\/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=\"545575\" 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=\"545575\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/a-strong-start-to-the-year-for-sukuk-investors-sentiment-tanks-on-high-growth-firms\/\">\r\n                            A strong start to the year for sukuk + investors sentiment tanks on high-growth firms                        <\/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\/04\/04\/a-strong-start-to-the-year-for-sukuk-investors-sentiment-tanks-on-high-growth-firms\/\" target=\"_blank\">\n                    Open in new tab          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         <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545575\" class=\"content-area-description single-story post-545575 post type-post status-publish format-standard hentry category-planet-finance tag-china tag-debt tag-enterpriseam tag-fam-holding tag-fashion tag-financial-markets tag-ipo-watch tag-planet-finance tag-regulation tag-russia tag-shein tag-startups tag-sukuk tag-uae tag-us tag-venture-capital wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_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> Surging oil prices gave sukuk transactions their best ever start to a year in 2022<\/strong>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-30\/islamic-finance-deals-have-the-best-start-ever-with-oil-up-40?sref=mmeFTDW1\">Bloomberg<\/a> reports. Sales of new sukuk maturing in at least a year reached nearly USD 24 bn in the first quarter, marking the best start since the business newswire began compiling data on the sharia-compliant bonds back in 1999. Saudi Arabia and Turkey were the biggest issuers of sukuk, which performed better than highly-rated global bonds, shedding 4% compared with 7% for investment-grade bonds overall.<\/p><p><strong>Investor sentiment on high-growth private companies has done a 180\u00b0 this year<\/strong> as rising interest rates threaten to hit valuations, the <a href=\"https:\/\/www.ft.com\/content\/534a9dfc-28c2-4b48-be74-4f13aa1a5992\">Financial Times<\/a> reports. Some 95% of \u201cgrowth investors\u201d \u2014 investors situated between early-stage VCs and private equity groups that target older companies \u2014 are expecting to cut corporate valuations over the next 12 months, according to an investor survey by Numis. This compares to 70% who anticipated valuations to either remain the same or rise at the end of 2021. The reversal in sentiment mirrors what is happening in high-growth tech stocks, which have sold off this year ahead of rising borrowing costs.<\/p><p><strong>Another IPO in the Gulf:<\/strong> UAE-based property developer FAM Holding is planning to list on Abu Dhabi stock exchange\u2019s second market, a platform that allows private joint stock companies to list. If approved, FAM Holding, which has a property portfolio worth USD 545 mn, will be joining eight companies currently trading on the second market. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-04-03\/uae-developer-fam-holding-plans-abu-dhabi-second-market-listing?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a>)<\/p><p><strong>IN OTHER FINANCE NEWS-<\/strong><\/p><ul>\n<li><strong>More bad news for Russia\u2019s bondholders:<\/strong> Russian corporate and sovereign debt has been removed from JPMorgan\u2019s EM bond indexes, putting more pressure on Russian fixed-income assets, which have tanked since the country invaded Ukraine on 24 February. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-31\/bondholders-brace-for-russian-expulsion-from-842-billion-club?sref=mmeFTDW1\">Bloomberg<\/a>)<\/li>\n<li><strong>China wants to keep its companies listed stateside:<\/strong> China has moved to make its auditing rules more transparent in a bid to stop US regulators delisting Chinese firms in 2024. The new rules allow foreign regulators to gain access to sensitive financial information and are being seen as a major concession to the US, which has upped the pressure on Beijing to allow it to access more information about listed Chinese firms. (<a href=\"https:\/\/www.ft.com\/content\/c3d52cf3-a9b7-4a59-99e4-21cdaaebebe6\">FT<\/a>)<\/li>\n<li><strong>Chinese fashion <\/strong><strong>e-commerce startup Shein could raise some USD 1 bn in an upcoming funding round<\/strong>, which would value it at USD 100 bn, according to sources familiar with the matter. The company \u2014 known for its affordable designs and fast delivery \u2014 saw its app downloaded more times than Amazon in the US last year. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-04-03\/fashion-startup-shein-said-to-raise-funds-at-100-billion-value?srnd=premium-middle-east\">Bloomberg<\/a>)<\/li>\n<\/ul><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>11,562<\/p>\n<\/td>\n<td>\n<p>+2.9% (YTD: -3.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 18.21<\/p>\n<\/td>\n<td>\n<p>Sell 18.31<\/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>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 18.19<\/p>\n<\/td>\n<td>\n<p>Sell 18.29<\/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>9.25% deposit<\/p>\n<\/td>\n<td>\n<p>10.25% 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>13,083<\/p>\n<\/td>\n<td>\n<p>-0.1% (YTD: +16.0%)<\/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>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>9,929<\/p>\n<\/td>\n<td>\n<p>-0.2% (YTD: +17.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,537<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: +10.7%)<\/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>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,546<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: -4.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,538<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: +2.1%)<\/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>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td>\n<p>3,919<\/p>\n<\/td>\n<td>\n<p>+0.4% (YTD: -8.8%)<\/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>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 104.39<\/p>\n<\/td>\n<td>\n<p>-0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 5.72<\/p>\n<\/td>\n<td>\n<p>+1.4%<\/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 1,923.70<\/p>\n<\/td>\n<td>\n<p>-1.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 47,337<\/p>\n<\/td>\n<td>\n<p>+2.7% (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 2.9% at yesterday\u2019s close<\/strong> on turnover of EGP 561.21 mn (42.5% below the 90-day average). Regional investors were net sellers. The index is down 3.2% YTD.<\/p><p><strong>In the green: <\/strong>EFG Hermes (+9.1%), Mopco (+8.1%) and GB Auto (+7.0%).<\/p><p><strong>In the red: <\/strong>Fawry (-0.6%), Orascom Construction (-0.5%) and Telecom Egypt (-0.2%).<\/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\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fam-holding\/\">FAM Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fashion\/\">fashion<\/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\/ipo-watch\/\">IPO watch<\/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\/regulation\/\">regulation<\/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\/shein\/\">Shein<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sukuk\/\">sukuk<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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\/venture-capital\/\">venture capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"545576\" 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=\"545576\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/18-new-ambassadors-present-credentials-to-sisi\/\">\r\n                            18 new ambassadors present credentials to Sisi                        <\/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\/04\/04\/18-new-ambassadors-present-credentials-to-sisi\/\" 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\/04\/04\/18-new-ambassadors-present-credentials-to-sisi\/')\">\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\/04\/04\/18-new-ambassadors-present-credentials-to-sisi\/\">\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=18 new ambassadors present credentials to Sisi&url=https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/18-new-ambassadors-present-credentials-to-sisi\/\">\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\/04\/04\/18-new-ambassadors-present-credentials-to-sisi\/&title=18 new ambassadors present credentials to Sisi\">\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=18+new+ambassadors+present+credentials+to+Sisi+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F04%2F04%2F18-new-ambassadors-present-credentials-to-sisi%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\/04\/04\/18-new-ambassadors-present-credentials-to-sisi\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545576\" class=\"content-area-description single-story post-545576 post type-post status-publish format-standard hentry category-diplomacy tag-abdel-fattah-el-sisi tag-algeria tag-diplomacy tag-enterpriseam tag-foreign-ministry tag-france tag-israel-palestine-conflict tag-italy tag-japan tag-switzerland tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>President Abdel Fattah El Sisi received the credentials of 18 new ambassadors to <\/strong><strong>Egypt<\/strong> last week, according to <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/535778997910833\">an Ittihadiya statement<\/a>. Among the officials were: Mariam Khalifa Al Kaabi (UAE), Hameed Shbeira (Algeria), Marc Baretti (France), Michele Quaroni (Italy), Oka Hiroshi (Japan), and Yvonne Baumann (Switzerland).<\/p>\n<p><strong>MEANWHILE- <\/strong><strong>The Foreign Ministry has <\/strong><strong><a href=\"https:\/\/www.facebook.com\/photo.php?fbid=372856514884775&set=a.144073987763030&type=3\">strongly denounced<\/a><\/strong><strong> Israeli \u201cescalations\u201d against <\/strong><strong>Palestine<\/strong> in the past days, including attempts by Israeli settlers to storm Al-Aqsa mosque and the targeting of Palestinian citizens.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/algeria\/\">Algeria<\/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\/foreign-ministry\/\">Foreign Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/france\/\">France<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel-palestine-conflict\/\">Israel-Palestine conflict<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/italy\/\">Italy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/japan\/\">Japan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/switzerland\/\">Switzerland<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"545577\">\r\n    <div class=\"issue-section__content\">\r\n       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              <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\">13<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/with-rising-inflation-schools-might-see-lower-enrollment-rates-or-shifting-student-body-compositions\/\">\r\n                            With rising inflation, schools might see lower enrollment rates \u2014 or shifting student body compositions<\/a>\r\n   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<\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-545577\" class=\"content-area-description post-545577 blackboard type-blackboard status-publish has-post-thumbnail hentry tag-ais tag-education tag-eduhive tag-el-alsson tag-enterprise-blackboard tag-enterpriseam tag-gulf-english-school tag-inflation tag-lighthouse-education tag-modern-english-school 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>As inflation drives up overall costs and tightens budgets, a trend of transferring children <\/strong><strong>to less expensive private schools has gathered steam<\/strong>, Eduhive CEO Karim Mostafa <a href=\"https:\/\/enterprise.press\/blackboards\/private-schools-egypt-feeling-pinch-inflation\/\">said recently<\/a>. Lower-middle income schools are seeing an estimated two-three times the enrollment rate of high-income schools, education investment platform Lighthouse Education Deputy Chairman Mohamed El Sherif noted in February.<\/p>\n<p><strong>So are high-income or upper-middle income schools seeing enrollment rates drop? So far, no<\/strong>, say sources. Demand for private education is so high that existing school enrollment rates remain high too. For high-end schools, it\u2019s business as usual. Middle-income schools could see a change in the composition of their applicants, but not reduced enrollment. But a slowdown is possible for new schools entering the market, facing inflation and the devaluation.<\/p>\n<p><strong>A large segment of Egyptian society will always prioritize education spending: <\/strong>Though we\u2019re currently seeing considerable cost cutting, \u201ceducation is sacred to the Egyptian family,\u201d says Mostafa. Squeezed families will cut down other spending habits to allocate money to education whenever they can, he adds.<\/p>\n<p><strong>Wealthier families may weather the storm of inflation: <\/strong>Parents whose children attend international schools with annual tuition fees above EGP 140k are likely to have more disposable income to withstand inflation and devaluation, Elsewedy Capital Holding CEO Haytham Sabry tells Enterprise.<\/p>\n<p><strong>For those attending the most expensive schools, it \u201cwon\u2019t even cause a dent,\u201d<\/strong> El Alsson Executive Director Karim Rogers tells Enterprise. People whose children attend the likes of CAC, BISC, Malvern or NCBIS pay annual fees of around USD 20-25k or EGP 300k. If they can afford this, they\u2019re unlikely to have to look for lower-priced options due to inflation, Rogers says.<\/p>\n<p><strong>Schools above the EGP 150k price point don\u2019t seem to be facing enrollment problems: <\/strong>\u201cI haven\u2019t heard from schools with tuition fees over EGP 150k that they\u2019re finding it hard to fill their seats,\u201d says AIS Director Kapono Ciotti.<\/p>\n<p><strong>AIS reports stronger-than-usual enrollment levels:<\/strong> \u201cWe haven\u2019t seen the economy play a negative role \u2014 even with inflation,\u201d says Ciotti. AIS retained almost 97% of its students from 2021 \u2014 above normal levels of around 95%, he notes. \u201cI\u2019d say our re-enrollment is stronger than ever. Our new enrollments are very strong too.\u201d<\/p>\n<p><strong>El Alsson has seen parents stretched, but no drop in enrollment rates: <\/strong>El Alsson, which has fees of EGP 140-190k, has \u201ca handful\u201d of parents struggling due to recent price hikes, says Rogers. \u201cBut I haven\u2019t seen anyone leave saying they\u2019re moving to something cheaper.\u201d So far, enrollment numbers this year have been within the expected range, says Rogers. \u201cI think people are stretched. But if they\u2019ve chosen us, they\u2019re committed. And they probably want to continue here.\u201d<\/p>\n<p><strong>Schools in Eduhive\u2019s portfolio have seen a slight enrollment slowdown, but not enough to constitute a drop<\/strong>, says Mostafa. Projected numbers for this admissions season are steady, but the enrollment process is slower than in 2015, before rampant inflation. \u201cI used to fill 100 vacancies by January or February, but now it might take until April. You still fill up, but it just takes longer.\u201d<\/p>\n<p><strong>Middle-income schools \u2014 including those with EGP 60-100k fees \u2014 will more likely see enrollment changes, as parents target lower price points, <\/strong>say Rogers and Sabry. \u201cThe middle class is the most hit segment of society, so here you\u2019ll definitely see parents downgrading schools to get lower fees,\u201d Sabry says.<\/p>\n<p><strong>But they\u2019ll see a change in composition<\/strong> <strong>\u2014 not a lessening of overall demand: <\/strong>Enrollment rates will stay strong because Egypt\u2019s demand for private school education is just so high, sources agree. As some parents move to less expensive schools, others will take their place, says Sabry. \u201cI don\u2019t think this downgrading will affect admissions. It just affects the composition of the parents.\u201d<\/p>\n<p><strong>The Gulf English School (GES) shows these changes at work: <\/strong>The Gulf English School, which Rogers calls a \u201ctotally Egyptian school with an international perspective,\u201d has the same owner as Modern English School (MES). It filled with 600 students immediately after opening, says a source speaking off the record, noting that some parents left MES and went straight to GES. \u201cGES is full, because its fees are EGP 60-80k, and it has good facilities, teachers, curricula and management. It\u2019s really good value for money, so it\u2019s oversubscribed,\u201d notes Rogers.<\/p>\n<p><strong>But even if enrollment in existing schools isn\u2019t hit, significant challenges remain<\/strong>, sources note.<\/p>\n<p><strong>Sweeping demand for private education could allow low-quality players easy market access<\/strong>, Rogers and Mostafa fear. \u201cThere\u2019s a definite market for B- to C-class schools. It\u2019s very profitable,\u201d notes Rogers. Costs can be kept low if you don\u2019t hire expat teachers or seek international equipment or resources. \u201cBut some schools seem to target anybody with a bag of money,\u201d he adds.<\/p>\n<p><strong>New schools that haven\u2019t yet proven themselves in the market could face lower enrollment rates<\/strong>, says Sabry. Established schools generally have long waiting lists, but new operators will need to heavily invest in school construction, while trying to attract students as costs are exceptionally high, he adds. The situation could slow market entry for new schools, including international franchises, Ciotti agrees.<\/p>\n<p><strong>And high-end schools could see inflation and the devaluation hit their margins hard, because they pay expat teachers in FX: <\/strong>\u201cHigh end schools will see their margins affected. It\u2019s enrollment that\u2019s not affected,\u201d says Sabry. They might have to decrease the number or quality of their expat teachers, to pay less, he speculates. While Rogers hasn't yet felt the crunch when it comes to paying expat salaries, the EGP slide puts him in a more difficult position than he\u2019d anticipated when budgeting. \u201cWe have a buffer, but it\u2019s usually USD 1 or USD 1.5 over the value of the EGP \u2014 which when we set it was around USD 15,\u201d he notes. The USD is currently trading hands at EGP 18.30.<\/p>\n<p><strong>Will these trends continue for the rest of 2022 and into 2023? Yes, and they\u2019ll become more acute<\/strong>, says Sabry. But it\u2019s hard to predict by how much. \u201cJust as in 2014 and 2015, the markets were in turmoil, but you didn\u2019t know where the bottom was.\u201d<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top education stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Deadline for Egyptian-Japanese school applications extended:<\/strong> The deadline for 2022-2023 applications to Egyptian-Japanese schools has been extended to 9 April, the <a href=\"https:\/\/moe.gov.eg\/en\/what-s-on\/news\/extension-of-the-application-period-for-egyptian-japanese-schools\/\">Education Ministry announced<\/a>. <\/li>\n<li><strong>Egyptian students returning from Ukraine:<\/strong> Almost 1.3k Egyptian university students who fled Ukraine are applying to continue their studies at universities in Egypt, the Emigration Ministry said in <a href=\"https:\/\/www.facebook.com\/Moemigegy\/posts\/341621321328693\">a statement<\/a>.<\/li>\n<li><strong>USAID hosts careers fair: <\/strong>USAID Egypt\u2019s University Center for Career Development <a href=\"https:\/\/twitter.com\/USAIDEgypt\/status\/1508447637409779713\">hosted its third<\/a> virtual careers fair on 28 March to connect students with large multinationals.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ais\/\">AIS<\/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\/eduhive\/\">Eduhive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/el-alsson\/\">El Alsson<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gulf-english-school\/\">Gulf English School<\/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\/lighthouse-education\/\">Lighthouse Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/modern-english-school\/\">Modern English School<\/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=\"545579\" 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\/04\/04\/545579\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545579\" class=\"content-area-description single-story post-545579 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>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>15 February-15 June (Tuesday-Wednesday): ITIDA\u2019s Technology Innovation and Entrepreneurship Center is organizing the first <a href=\"https:\/\/ent.news\/2022\/3\/ITIDA-Launches-the-First-Metaverse-Hackathon-in-Creativa-Innovation-Hubs-and-Electronics-Labs-across-Egypt.pdf\">Metaverse Hackathon<\/a>.<\/p>\n<p>14 March-30 June: The \u201cEscape to Egypt\u201d exhibition at the <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02TyfzyKQdaqZmXvT1e3FuyPe3vSpn55zshBzfPbVExM3BR7KTZ3Geb6QVSsHa2S5Nl\">Coptic Museum<\/a>, in celebration of its 112th anniversary.<\/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>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>11 April (Monday): The <a href=\"https:\/\/news.sky.com\/story\/chelsea-fc-sale-bidders-given-april-11-deadline-for-final-shootout-12576109\">deadline<\/a> to submit <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b12849b8-87fa-4c28-b047-5da12dbda770\">bids<\/a> for Chelsea FC.<\/p>\n<p>14 April (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>20 April (Wednesday): Deadline for listed companies and NBFIs to <a href=\"https:\/\/fra.gov.eg\/custompdfs\/2481616-2\/\">submit quarterly ESG reports<\/a>.<\/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>21 April (Thursday): EGX-listed Taaleem <a href=\"https:\/\/ent.news\/2022\/3\/Taaleem-general-meeting-April.pdf\">will hold<\/a> an extraordinary general assembly to discuss the mechanism to build and own nonprofit and private universities.<\/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 Meetings<\/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>30 April (Saturday): Deadline to apply to the <a href=\"https:\/\/tatweermisr.com\/innovation-competition\">Tatweer Misr Innovation Competition<\/a>.<\/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>1 May (Sunday): Suez Canal Authority raises tolls for different vessels.<\/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>Early July: <a href=\"https:\/\/dailynewsegypt.com\/2022\/03\/21\/polands-president-will-visit-egypt-soon-to-consolidate-relations-between-two-countries-polish-ambassador\/\">Polish President to visit Egypt<\/a>.<\/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>4-6 November: The <a href=\"https:\/\/www.autotechegypt.com\/en\/home.html\">Autotech<\/a> auto exhibition kicks off at the Cairo International Exhibition and Convention Center.<\/p>\n<p>7-18 November (Monday-Friday): Egypt will host <a href=\"https:\/\/sdg.iisd.org\/events\/2021-un-climate-change-conference-unfccc-cop-27\/\">COP27<\/a> in Sharm El Sheikh.<\/p>\n<p>21 November-18 December (Monday-Sunday): 2022 Fifa World Cup, Qatar.<\/p>\n<p>13-14 December (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>15 December (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>22 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>End of 2022: e-Aswaaq\u2019s tourism platform will complete the roll out of its ticketing and online booking portal across Egypt.<\/p>\n<p>January 2023: EGX-listed companies and non-bank lenders will submit ESG reports for the first time.<\/p>\n<p>January: Fuel pricing committee meets to decide quarterly fuel prices.<\/p>\n<p><strong>**Note to readers:<\/strong> Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish above between the actual holiday and its observance.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":545555,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-545554","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"bbd98f22-9a33-4cee-97f0-28d92abc36d1","teaser":"","photo_url":"https:\/\/ent.news\/2022\/4\/3.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>Domty and Giza Systems offer us rare Ramadan-time M&amp;A news - 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\/domty-and-giza-systems-offer-us-rare-ramadan-time-ma-news\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Domty and Giza Systems offer us rare Ramadan-time M&amp;A news\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/domty-and-giza-systems-offer-us-rare-ramadan-time-ma-news\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T21:06:51+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/3.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\/domty-and-giza-systems-offer-us-rare-ramadan-time-ma-news\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/domty-and-giza-systems-offer-us-rare-ramadan-time-ma-news\/\",\"name\":\"Domty and Giza Systems offer us rare Ramadan-time M&A news - 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