{"id":545590,"date":"2022-04-05T03:55:25","date_gmt":"2022-04-05T03:55:25","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=545590"},"modified":"2025-12-15T21:07:39","modified_gmt":"2025-12-15T21:07:39","slug":"saudi-sovereign-wealth-fund-pif-is-eyeing-wataniya-siemens-built-power-plants","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/saudi-sovereign-wealth-fund-pif-is-eyeing-wataniya-siemens-built-power-plants\/","title":{"rendered":"Saudi sovereign wealth fund PIF is eyeing Wataniya + Siemens-built power plants"},"content":{"rendered":"<section id=\"545592\" 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=\"545592\">\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\/05\/this-morning-more-mosalsal-drama-its-pmi-day\/\">\r\n                            THIS MORNING: More mosalsal drama + It\u2019s PMI day                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/this-morning-more-mosalsal-drama-its-pmi-day\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/this-morning-more-mosalsal-drama-its-pmi-day\/')\">\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\/05\/this-morning-more-mosalsal-drama-its-pmi-day\/\">\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: More mosalsal drama + It\u2019s PMI day&url=https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/this-morning-more-mosalsal-drama-its-pmi-day\/\">\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\/05\/this-morning-more-mosalsal-drama-its-pmi-day\/&title=THIS MORNING: More mosalsal drama + It\u2019s PMI day\">\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+More+mosalsal+drama+%2B+It%E2%80%99s+PMI+day+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F04%2F05%2Fthis-morning-more-mosalsal-drama-its-pmi-day%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\/05\/this-morning-more-mosalsal-drama-its-pmi-day\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545592\" class=\"content-area-description single-story post-545592 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-arab-league tag-commodities tag-energy-markets tag-enterpriseam tag-fuel tag-light-rail-train tag-ramadan tag-russia-ukraine-war tag-transport tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Good morning, wonderful people, and welcome to the first hump day of Ramadan <\/strong>\u2014 and the lightest news day we\u2019ve had in more than a month.<\/p><p><strong>Awards shows are becoming obsolete \/ we\u2019re getting old \/ we got caught up in the<\/strong><strong> Ramadan of it all. <\/strong>We can\u2019t decide which excuse to settle on as to why music\u2019s biggest night of the year passed us by, but the <a href=\"http:\/\/www.grammy.com\">Grammys<\/a> went ahead on Sunday night \u2014 for the first time in Las Vegas \u2014 after an omicron-induced delay. Bruno Mars\u2019 and Anderson .Paak\u2019s old-school soul \/ funk group Silk Sonic picked up record of the year and song of the year for \u201cLeave the Door Open\u201d (<a href=\"https:\/\/www.youtube.com\/watch?v=adLGHcj_fmA\">watch: runtime: 4:08<\/a>), which we admit to hearing for the first time this morning. Nineteen-year-old ex-Disney TV star Olivia Rodrigo snatched the best new artist award. On second thought: we\u2019re definitely getting old. Catch the highlights here (<a href=\"https:\/\/www.youtube.com\/watch?v=PyAgFQsWnIU\">watch, runtime: 1:32<\/a>).<\/p><p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>One Ramadan TV meta-drama put to bed: <\/strong>Ramadan mosalsal Donya Tanya is back on our screens. The national media authority had <a href=\"https:\/\/www.facebook.com\/scmediaeg\/posts\/281183300844089\">pulled the first episode of the show<\/a> for what it claimed were inappropriate depictions of incest. The ep showed the main character (played by star Laila Elwi) catch her husband in unmentionable acts with her sister. The showmakers have now edited the series to bring forward the revelation that what was not strictly an incest storyline was never even slightly an incest storyline, since Elwi\u2019s sister isn\u2019t her sister after all, director Ahmed Abdel Aal told <a href=\"https:\/\/bit.ly\/3uT59hY\">ET Bel Araby<\/a>. So that clears that up. For suggestions on somewhat more coherent Ramadan viewing, check out our <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9320deab-5509-44fb-9ab8-0f47cfe40236\">recent roundup<\/a>.<\/p><p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>YOU MUST TRY THIS if you\u2019re Gen X or an Elder Millennial: <\/strong>Go back in time and with a single click boot up a real, working Macintosh <a href=\"https:\/\/system7.app\/\">System 7<\/a> or <a href=\"https:\/\/macos8.app\/\">Mac OS 8<\/a> in your browser. <strong>Unbelievably, the OS 8 emulator includes a real, working copy of Maelstrom<\/strong> and other vintage games.<\/p><p><strong>Other pre-iftar distractions <\/strong>from the dumpster fire that is our social media:<\/p><ul>\n<li>This thread is a <strong><a href=\"https:\/\/twitter.com\/meanestta\/status\/1509936432625897474\">slang of the youts-to-corporatese translator<\/a><\/strong>.<\/li>\n<li><strong>Want to contemplate a cosmic mystery before you break your fast?<\/strong> Go read Peptides on stardust may have provided a shortcut to life. (<a href=\"https:\/\/www.wired.com\/story\/peptides-on-stardust-may-have-provided-a-shortcut-to-life\/\">Wired<\/a>)<\/li>\n<li>George\u2019s mom is dead. (<a href=\"https:\/\/www.rollingstone.com\/tv\/tv-news\/estelle-harris-mrs-costanza-seinfeld-dead-obit-1331712\/\">Rolling Stone<\/a>)<\/li>\n<\/ul><p><strong>PSA- The mercury is due to hit 40\u00b0C this afternoon<\/strong>, according to our favourite weather app. Look for a daytime high of 39\u00b0C tomorrow and 40\u00b0C on Thursday before temps slide to a more seasonally appropropriate low-30s on the weekend.<\/p><p><strong>SO, WHEN DO WE EAT?<\/strong> You\u2019ll be breaking your fast at 6:16pm CLT this evening in the capital city, and fajr prayers are at 4:09am.<\/p><hr class=\"grey-line\"><p><strong>DEADLINE CHECK- <\/strong><strong>Where\u2019s the LRT? <\/strong>Trials for the light rail train (LRT) project were <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6788ae07-6719-428a-96de-b6d11de69726\">set to<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6788ae07-6719-428a-96de-b6d11de69726\">wrap<\/a> by the end of March, with an eye to launch in April \u2014 but companies involved in the project weren\u2019t able to tell Enterprise when it should be up and running when we reached out for an update. The 103.3 km network (which runs primarily through East Cairo\u2019s new desert cities) had begun test runs and was about 95% complete as of the end of last year. We\u2019re keeping our ears to the ground for fresh news.<\/p><p><strong>SIGN OF THE TIMES- Turkish inflation hit a fresh 20-year high in March as the country\u2019s <\/strong><strong>economic crisis worsens.<\/strong> Consumer prices <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-04-04\/turkish-inflation-climbs-to-fresh-20-year-high-on-energy-lira?srnd=premium-middle-east&amp;sref=mmeFTDW1\">rose 61.1% y-o-y<\/a> last month, up from 54.4% recorded in February.<\/p><p><strong>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p><p><strong>It\u2019s PMI day: <\/strong>Purchasing managers\u2019 index figures for March for Egypt will <a href=\"https:\/\/www.markiteconomics.com\/Public\/Release\/ReleaseDates?language=en\">land here<\/a> at 6:15 CLT \u2014 shortly after we hit \u2018send\u2019 this morning. Egypt\u2019s PMI has been in contraction since November 2020, and headwinds intensifying last month due to the conflict in Ukraine are unlikely to have changed that. Figures for Saudi Arabia, the UAE and Qatar are also out today.<\/p><p><strong>Foreign Minister Sameh Shoukry is in Warsaw with an Arab League delegation trying to <\/strong><strong>broker peace for Ukraine. <\/strong>The delegation met with Russian Foreign Minister Sergey Lavrov yesterday and will hold talks with his Ukrainian counterpart, Dmytro Kuleba, today. We have more on the Arab mediation efforts in today\u2019s War Watch section, below.<\/p><p><strong>WATCH THIS SPACE- Gov\u2019t to release fair price list for basic commodities<\/strong><strong>: <\/strong>The government is working with the Federation of Egyptian Chambers of Commerce to publish a list setting fair prices for basic food commodities to ensure that retailers aren\u2019t using current inflationary pressures to hike prices unfairly, according to a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/373566828147077\">cabinet statement<\/a>. \u201cWe will not allow unjustified and exaggerated increases in the prices of basic commodities,\u201d Madbouly said.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p><strong>MARKET WATCH-<\/strong><\/p><p><strong>European natural gas prices closed lower after see-sawing yesterday <\/strong>as traders chew over threats to supplies amid calls for new sanctions against Moscow, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-04-04\/european-gas-advances-as-eu-weighs-new-sanctions-against-russia?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> reported. Benchmark futures closed down 2.3% on stable LNG inflows, after rising near 7% earlier yesterday.<\/p><p><strong>Brent crude, on the other hand, soared past USD 107 per barrel on Monday <\/strong>on worries over fresh sanctions, <a href=\"https:\/\/www.reuters.com\/business\/energy\/oil-extends-losses-reserves-release-yemen-truce-2022-04-04\/\">Reuters<\/a> reported. The fluctuation in energy markets comes as traders fret over fresh sanctions to be imposed by the EU against Moscow over reports of war crimes near Kyiv (more on that in today\u2019s War Watch section, below).<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>Expect movement on fuel prices this week or the next:<\/strong> The government\u2019s fuel pricing committee is due to have its quarterly meeting at the beginning of this month, when it will likely opt to hike prices in 2Q for the fifth time in less than a year. The committee <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fee97989-84a3-4a9c-9ceb-ed67e0f1d174\">increased prices<\/a> of 80, 92 and 95-octane by EGP 0.25 when it last met in February in response to rising international prices, and since then, the war in Ukraine has sent Brent up another 15% past USD 107 a barrel. Prices at the pump have risen by up to 16% since April last year.<\/p><p><strong>ALSO THIS WEEK AND NEXT-<\/strong><\/p><ul>\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 class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/INFINITY-Top-banner-EN-1600x675-v2-02.png?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p><p><strong>In today\u2019s issue:<\/strong> Everyone who calls Cairo home knows that air pollution is a major issue. Poor air quality damages our health and productivity \u2014 and comes with an annual USD 30 bn price tag, according to a new report from the World Bank. In this week\u2019s issue of Going Green, we dig into the report\u2019s findings on why Egypt pays the highest cost for poor air quality of any country in the MENA region.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/arab-league\/\">Arab League<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy-markets\/\">energy markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fuel\/\">fuel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/light-rail-train\/\">Light rail train<\/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\/russia-ukraine-war\/\">Russia-Ukraine war<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/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=\"545593\" 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=\"545593\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/545593\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545593\" class=\"content-area-description single-story post-545593 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/somabay.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/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\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=\"545594\" 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=\"545594\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/pif-could-invest-in-al-wataniya-siemens-power-plants-adq-could-buy-stakes-in-unlisted-egyptian-firms-soliman\/\">\r\n                            PIF could invest in Al Wataniya, Siemens power plants + ADQ could buy stakes in unlisted Egyptian firms -Soliman                        <\/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\/05\/pif-could-invest-in-al-wataniya-siemens-power-plants-adq-could-buy-stakes-in-unlisted-egyptian-firms-soliman\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The Sovereign Fund of Egypt (SFE) is offering both companies to the Public Investment Fund (PIF), which is looking at green- and brownfield projects in Egypt\u2019s healthcare, education, agriculture and financial services sectors, SFE head Ayman Soliman told Al Arabiya TV (<a href=\"https:\/\/bit.ly\/3uZFEvw\">watch, runtime: 9:45<\/a>).<\/p>\n<p><strong>The sale of some or all of Wataniya has attracted significant investor interest <\/strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/97d049e6-a61e-4b0c-889d-f141f384cee9\">for more than a year<\/a>, while there has been talk of selling stakes in the power plants going back to 2019 when the SFE was first established. The fund has in the past suggested that it could acquire significant minority stakes in both as a prelude to their sale.<\/p>\n<p><strong>The news comes as ministers <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b9c89acc-d66b-4a40-b1d8-25751a739034\">are scheduled to meet<\/a><\/strong><strong> this week to discuss which state-owned companies will be offered on the EGX this year.<\/strong> The government is reviewing the program \u201cin light of recent developments,\u201d with an eye to offer four to five companies during 2022 in the energy, ins. and financial sectors. The government had originally aimed to sell shares in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/341bd556-a758-49d4-9aa9-1852ae8a3d9f\">as many as 10 firms<\/a> in 2022, but the deteriorating global market conditions have forced it to rethink its plans.<\/p>\n<p><strong>ALSO FROM THE SFE BOSS- Abu Dhabi wealth fund ADQ could acquire stakes in both listed and unlisted Egyptian companies as part of its investment in Egypt<\/strong>, Soliman told the broadcaster. The investment would come as a move of support, especially to companies that are preparing to list on the EGX, with details set to be announced within days, Soliman said.<\/p>\n<p><strong>Refresher:<\/strong> Bloomberg reported last month that ADQ could acquire state-held stakes in five EGX-listed companies: private firms <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b620f717-d83d-4c48-906c-a85dca2eff2a\">CIB and Fawry<\/a>, and state-owned <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/173a4bd1-68e9-478a-8422-135f238e0210\">Abu Qir Fertilizers, Mopco, and Alexandria Container & Cargo Handling<\/a>. The planned acquisitions are part of a USD 2 bn investment to shore up Egypt\u2019s finances amid surging food and energy prices.<\/p>\n<p><strong>Our GCC neighbors have <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce28f2c9-69b3-4c78-b2ab-1eb5d194e101\">recently stepped up<\/a><\/strong><strong> M&A, investment and (in the case of KSA) deposits at the central bank. <\/strong><\/p>\n<p><strong>It goes both ways: <\/strong>The SFE also plans to invest in Saudi Arabia\u2019s fintech and financial inclusion sectors, Soliman told the news channel, without disclosing the size or value of the investments it plans to make.<\/p>\n<p><strong>OTHER INVESTMENT NEWS- <\/strong><\/p>\n<p><strong>Mexican concrete giant Cemex could cut back on spending in Egypt and the UAE this year due<\/strong> to the war in Ukraine, the company\u2019s Egypt and UAE CEO Carlos Emilio Gonzalez told <a href=\"https:\/\/www.asharqbusiness.com\/article\/35803\">Bloomberg Asharq<\/a>. The company could now invest USD 10-15 mn in 2022, down from a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c734fc23-c0c0-4322-bf5d-ce3c400e707a\">planned USD 20 mn<\/a>, he said, adding that some investments could be delayed to next year.<\/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\/adq\/\">ADQ<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/al-wataniya\/\">Al Wataniya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cemex\/\">CEMEX<\/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\/pif\/\">PIF<\/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\/siemens\/\">Siemens<\/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=\"545596\" 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=\"545596\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/giza-systems-board-nods-to-stc-takeover\/\">\r\n                            Giza Systems board nods to STC takeover                        <\/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\/05\/giza-systems-board-nods-to-stc-takeover\/\" 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\/05\/giza-systems-board-nods-to-stc-takeover\/')\">\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\/05\/giza-systems-board-nods-to-stc-takeover\/\">\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=Giza Systems board nods to STC takeover&url=https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/giza-systems-board-nods-to-stc-takeover\/\">\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\/05\/giza-systems-board-nods-to-stc-takeover\/&title=Giza Systems board nods to STC takeover\">\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=Giza+Systems+board+nods+to+STC+takeover+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F04%2F05%2Fgiza-systems-board-nods-to-stc-takeover%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\/05\/giza-systems-board-nods-to-stc-takeover\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/127.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"545597\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/giza-systems-board-nods-to-stc-takeover\/127-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/127.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"127.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/127.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/127.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545596\" class=\"content-area-description single-story post-545596 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-b-investments tag-enterpriseam tag-giza-systems tag-inergia tag-ma-watch tag-saudi-arabia tag-solutions-by-stc 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-02\"><\/a> <strong>STC is taking a majority stake in Giza Systems:<\/strong> A subsidiary of Saudi Telecom (STC) is on course to take an 89.5% stake in Giza Systems, after the board of the Egyptian systems integrator accepted its bid, it announced in <a href=\"https:\/\/ent.news\/2022\/4\/Press-Release-EN-4-Apr-2022.pdf\">a statement (pdf)<\/a> yesterday. Solutions by STC went public with the move a couple hours after we hit \u2018send\u2019 on yesterday\u2019s AM edition, saying in a <a href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/tadawul\/home\/announcement-details\/!ut\/p\/z1\/fY_BboJAEIafxQNXZiqC2NvWUoFSqtWA7IUsZFyMyJoF5PULaS9N2s5l8k2-yfwDHI7AG3E_S9GdVSPqkTPu5PP52n1YLTDaBPES2Y75yUtysBBtSIED_09ZfAv4RzGEELisVfF1jjWF5Urgmk6kSZu9HsdV193aRwMNHIbBlErJmsxSXQ38baVSbQfHn-YYNOPLPPajtY_u_NUNt1PMp5XtOwFuQgdSTa3qdUnwwaIoj710nyeBl8KuFGVFEd2p3gpJsJ8-qkUj-4kyaiZ-Zhlkh_ep3S6X01tnF-7gWVc2m30Ckpj3ZQ!!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfTkhMQ0gwODJLMFRORjBBUVZPQ0JNRUtVMjIvWjZfTkhMQ0gwODJLMFRORjBBUVZPQ0JNRUtVSzYvQU5OT1VOQ0VNRU5UX05VTUJFUi82NzUzMC9odHRwOiUwJTB0YWRhd3VsJTAvYW5uQ2F0LzEvY29tcGFueVN5bWJvbC83MjAy\/\">disclosure to the Saudi stock exchange<\/a> that it had signed a binding offer with Giza Systems\u2019 stakeholders for the acquisition.<\/p>\n<p><strong>By the numbers:<\/strong> STC will pay USD 158 mn in cash for both the company and a 34% stake in its Saudi subsidiary Giza Arabia, it said in the <a href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/tadawul\/home\/announcement-details\/!ut\/p\/z1\/fY_BboJAEIafxQNXZiqC2NvWUoFSqtWA7IUsZFyMyJoF5PULaS9N2s5l8k2-yfwDHI7AG3E_S9GdVSPqkTPu5PP52n1YLTDaBPES2Y75yUtysBBtSIED_09ZfAv4RzGEELisVfF1jjWF5Urgmk6kSZu9HsdV193aRwMNHIbBlErJmsxSXQ38baVSbQfHn-YYNOPLPPajtY_u_NUNt1PMp5XtOwFuQgdSTa3qdUnwwaIoj710nyeBl8KuFGVFEd2p3gpJsJ8-qkUj-4kyaiZ-Zhlkh_ep3S6X01tnF-7gWVc2m30Ckpj3ZQ!!\/dz\/d5\/L0lHSklna0tDbEVLSUtVUW9ncFJBL29Od1FBRU1JQUFDRUVoZ0NLTTR6bEdDRklVbFF3Z1d0RzBaV2dBISEvNEpDaWpzWXBNaFRqVUUxdTBsc3BxYWEzYVMyTTFMSSEvWjdfTkhMQ0gwODJLMFRORjBBUVZPQ0JNRUtVMjIvWjZfTkhMQ0gwODJLMFRORjBBUVZPQ0JNRUtVSzYvQU5OT1VOQ0VNRU5UX05VTUJFUi82NzUzMC9odHRwOiUwJTB0YWRhd3VsJTAvYW5uQ2F0LzEvY29tcGFueVN5bWJvbC83MjAy\/\">disclosure<\/a>. The transaction values Giza Systems at USD 145 mn.<\/p>\n<p><strong>Who\u2019s selling?<\/strong> SPV Inergia Technologies, which holds a 65.7% stake in Giza Systems, is the only named seller so far. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3c5a4fe4-2cf0-4bf2-bc7c-54571f540c99\">As we reported yesterday morning<\/a>, <strong>Inergia\u2019s majority stakeholder, B Investments, said it had agreed to sell the 44.7% stake it holds<\/strong> in Giza Systems through the SPV. Giza Systems declined to say who else was selling when we asked yesterday.<\/p>\n<p><strong>Next steps:<\/strong> The parties have 12 weeks from Sunday (when the offer was finalized) to conclude the SPA and obtain corporate approvals, according to the STC disclosure. The sale is also still pending regulatory and legal nods and is expected to close in \u201cthe next few months,\u201d according to Giza Systems\u2019 statement.<\/p>\n<p><strong>The main message: Business as usual.<\/strong> The company stressed that it will remain independent and there will be no change in organizational structure and governance if the transaction closes, with Shehab El Nawawi staying on as chairman and Osama Sorour helming the organization as CEO.<\/p>\n<p><strong>What\u2019s in it for everyone?<\/strong> Giza Systems said that access to the Saudi market and STC\u2019s resources would accelerate its growth and expand its services. For the Saudi company, the acquisition will offer a \u201csignificant step in line with the company's international expansion strategy to enter new markets and expand business lines,\u201d it said in the disclosure.<\/p>\n<p><strong>Advisors:<\/strong> SNB Capital is providing financial advice to STC. Giza Systems declined to say who was advising it, and B Investments hasn\u2019t appointed advisors.<\/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\/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\/inergia\/\">Inergia<\/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\/saudi-arabia\/\">Saudi Arabia<\/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=\"545598\" 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=\"545598\">\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\">Commodities<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/our-wheat-reserves-are-dipping-but-finmin-has-lined-up-the-funds-to-buy-big-in-the-local-harvest\/\">\r\n                            Our wheat reserves are dipping \u2014 but FinMin has lined up the funds to buy big in the local harvest                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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         <!-- <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\/05\/our-wheat-reserves-are-dipping-but-finmin-has-lined-up-the-funds-to-buy-big-in-the-local-harvest\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/128.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"545599\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/our-wheat-reserves-are-dipping-but-finmin-has-lined-up-the-funds-to-buy-big-in-the-local-harvest\/128-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/128.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"128.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/128.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/128.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545598\" class=\"content-area-description single-story post-545598 post type-post status-publish format-standard has-post-thumbnail hentry category-commodities tag-commodities tag-enterpriseam tag-finance-ministry tag-russia tag-ukraine tag-wheat wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Our strategic wheat reserves have taken a dip: <\/strong>Egypt currently has enough wheat to cover the next 2.6 months\u2019 worth of consumption, cabinet spokesman Nader Saad said in a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/373566828147077\">statement<\/a>, down from the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/19cdf00e-f36b-465c-8115-096d9196dcfc\">four-month<\/a> figure announced by the government in early March.<\/p>\n<p><strong>Depleted reserves shouldn\u2019t come as a surprise. <\/strong>Russia\u2019s war in Ukraine has caused turmoil in global wheat markets, leading the government to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/47455fdd-e237-4cbb-ad9a-c402d82a437c\">halt all international wheat tenders<\/a> until at least mid-May. We received all our backlogged orders of Russian wheat in March, but blockaded ports mean there\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/88f99c3e-0a2f-4d36-aee5-8a9641e100b9\">little to no grain<\/a> coming out of Ukraine. The two countries together supply more than 80% of our imported wheat in peacetime.<\/p>\n<p><strong>Don\u2019t panic: The local harvest kicks off on Friday \u2014 and the government has roughly doubled its purchase budget from last year. <\/strong>With global markets in disarray, the Madbouly government has shifted its wheat procurement focus to local sources. The government will spend around EGP 36 bn to purchase 6 mn tons of local wheat this year, the Finance Ministry <a href=\"https:\/\/www.facebook.com\/MOF.Egypt\/posts\/349210877236282\">confirmed<\/a> yesterday. That tallies with<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/29183830-0b02-47ca-9b6f-7227de89b93e\">our math<\/a>: Farmers will receive EGP 865-885 per ardeb of wheat they sell to the state, and at 150 kg each, there are 6.66 ardebs in a metric ton. This would be a bit more than double what the government spent on local wheat last season, when it bought 3.5 mn tons \u2014 or 23.3 mn ardebs \u2014 at a top price of EGP 725 per ardeb.<\/p>\n<p><strong>FinMin <\/strong><strong>has made EGP 1.1 b<\/strong><strong>n available for downpayments to wheat farmers this season<\/strong>, according to a cabinet <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/373566828147077\">statement<\/a>. The General Authority for Supply Commodities (GASC) and the Agricultural Bank of Egypt now have access to the funds to start making purchases.<\/p>\n<p><strong>Recently announced incentives could help the government meet supply goals:<\/strong> The carrots (and sticks) include price hikes for local wheat, minimum selling quotas, and bans on selling to third parties without a license. Those who sell 90% or more of their wheat to the government will also receive subsidized fertilizers for summer planting.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Reserves of other at-risk commodities are in better shape: <\/strong>We have enough sugar to last 5.6 months, nearly six months\u2019 worth of oil and rice, and 7.8 months of poultry reserves, according to the cabinet statement. We also have enough meat \u2014 which is not as exposed to war in Europe \u2014 in reserve to last well over a year.<\/p>\n<p><strong>The government is working to secure at least 3-6 months of reserves in all basic commodities<\/strong>, Prime Minister Mostafa Madbouly <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/19cdf00e-f36b-465c-8115-096d9196dcfc\">previously said<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ukraine\/\">Ukraine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"545600\" 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=\"545600\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/545600\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545600\" class=\"content-area-description single-story post-545600 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/whatsnext.enterprise.press\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/New-Banners-English-v2_1600-text-1.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n<ul>\n<li><\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"545601\" 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=\"545601\">\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\">WAR WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/arab-league-wants-to-mediate-a-ceasefire-in-russia-ukraine-war-moscow-wants-to-make-it-easier-for-tourists-to-travel-to-friendly-countries\/\">\r\n                            Arab League wants to mediate a ceasefire in Russia-Ukraine war + Moscow wants to make it easier for tourists to travel to \u201cfriendly\u201d countries                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/arab-league-wants-to-mediate-a-ceasefire-in-russia-ukraine-war-moscow-wants-to-make-it-easier-for-tourists-to-travel-to-friendly-countries\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/arab-league-wants-to-mediate-a-ceasefire-in-russia-ukraine-war-moscow-wants-to-make-it-easier-for-tourists-to-travel-to-friendly-countries\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/129.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"545602\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/arab-league-wants-to-mediate-a-ceasefire-in-russia-ukraine-war-moscow-wants-to-make-it-easier-for-tourists-to-travel-to-friendly-countries\/129-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/129.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"129.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/129.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/129.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545601\" class=\"content-area-description single-story post-545601 post type-post status-publish format-standard has-post-thumbnail hentry category-war-watch tag-arab-league tag-emmanuel-macron tag-energy tag-enterpriseam tag-joe-biden tag-russia-ukraine-war tag-sameh-shoukry tag-sergey-lavrov tag-tourism tag-ukraine tag-vladimir-putin tag-war-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>The Arab League is trying to negotiate peace for Ukraine: <\/strong>An Arab League delegation including Foreign Minister Shoukry said at a press conference in Moscow yesterday (<a href=\"https:\/\/www.youtube.com\/watch?v=80iVvT6Zj50\">watch, runtime: 26:21<\/a>) that it had offered to mediate ceasefire talks between Russia and Ukraine. Russian Foreign Minister Sergey Lavrov met with the delegation \u2014 which also includes Shoukry\u2019s Algerian, Jordanian and Sudanese counterparts as well as Arab League Secretary General Ahmed Aboul Gheit \u2014 for talks ahead of the presser.<\/p>\n<p><strong>The AL drive aims to broker a ceasefire<\/strong> between the two countries and work out a number of confidence-building measures, Shoukry said. The delegation also spoke with Lavrov about the need to ensure the safe exit of Arab citizens from conflict areas and mitigate fallout from the conflict on third countries, he added.<\/p>\n<p><strong>What does the war have to do with the Arab League? It\u2019s the economy, stupid. <\/strong>The Arab push for peace was triggered by pressure the war is putting on global food and energy markets, Shoukry said at the presser. \u201cOur efforts stem from our awareness of the seriousness of the crisis in Ukraine and its negative repercussions on various economic levels, such as global energy and food security,\u201d he said.<\/p>\n<p><strong>Lavrov used the presser to reiterate Russian claims that images of alleged war crimes coming out of Ukraine are fake<\/strong>, saying that Russia is the victim of a misinformation campaign. \u201cUkraine should forget the idea of \u200b\u200bjoining NATO,\u201d he added, reiterating a call for Kyiv to declare neutrality.<\/p>\n<p><strong>The delegation will head to Warsaw today for talks <\/strong>with Ukrainian Foreign Minister Dmytro Kuleba, according to a <a href=\"http:\/\/www.leagueofarabstates.net\/ar\/news\/Pages\/NewsDetails.aspx?RID=3391\">statement<\/a>.<\/p>\n<p><strong>REMEMBER- Russia and Ukraine are two of our biggest friends<\/strong>, and we\u2019d like it to stay that way. The two countries together supply the bulk of our imported wheat and are key markets for inbound tourism.<\/p>\n<p><strong>THE WAR IN TOURISM- <\/strong><\/p>\n<p><strong>Russia is making it easier for its citizens to fly to Egypt and other \u201cfriendly\u201d countries\u2026 <\/strong>The country will lift all remaining covid restrictions on flights to 52 \u201cfriendly states\u201d including Egypt from this Saturday, state news agency <a href=\"https:\/\/tass.com\/economy\/1432197\">TASS reported<\/a> citing Prime Minister Mikhail Mishustin. Algeria, Bahrain, Jordan, Iraq, Kuwait and Lebanon also made the list.<\/p>\n<p><strong>\u2026and harder for Europeans to visit Russia<\/strong>: Russia is suspending simplified visa procedures for some European Union countries, as well as Norway, Switzerland, Denmark and Iceland, which it deems \u201cunfriendly,\u201d <a href=\"https:\/\/www.reuters.com\/world\/russia-imposes-visa-restrictions-citizens-unfriendly-countries-2022-04-04\/\">Reuters<\/a> reports, as a response to sanctions placed on Moscow over Ukraine. The move is largely symbolic, given that Russian airspace is already <a href=\"https:\/\/www.reuters.com\/world\/russia-resume-flights-with-52-friendly-countries-pm-says-2022-04-04\/\">closed to European airlines<\/a>.<\/p>\n<p><strong>BUCHA MASSACRE-<\/strong><\/p>\n<p><strong>Biden says \u201cwar criminal\u201d Putin should be put on trial + promises more sanctions: <\/strong>\u201cYou saw what happened in Bucha \u2026 he [Vladimir Putin] is a war criminal,\u201d US President Joe Biden <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/speeches-remarks\/2022\/04\/04\/remarks-by-president-biden-after-marine-one-arrival-9\/\">told reporters<\/a> yesterday, responding to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c249bcb0-8f3f-41f1-95ac-a30d4d1b686c\">reports of executions of unarmed civilians and other atrocities<\/a> allegedly committed by the Russian military against Ukrainian citizens in western Ukraine. Biden called for the Russian president to face a war crimes trial and <strong>said the US would soon announce more sanctions against Russia<\/strong>.<\/p>\n<p><strong>The massacre in Bucha prompted France to call for a ban on Russian coal and oil<\/strong>, with President Emmanuel Macron leading the charge (though he was silent on all-important gas, as the <a href=\"https:\/\/www.ft.com\/content\/7e1670e8-c035-4cef-af59-3691414546a1\">Financial Times<\/a> points out).<\/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\/arab-league\/\">Arab League<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emmanuel-macron\/\">Emmanuel Macron<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/joe-biden\/\">Joe Biden<\/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\/sameh-shoukry\/\">Sameh Shoukry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sergey-lavrov\/\">Sergey Lavrov<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ukraine\/\">Ukraine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vladimir-putin\/\">Vladimir Putin<\/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=\"545603\" 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=\"545603\">\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\">Automotive<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/el-nasr-automotive-to-sign-agreement-with-new-chinese-partner-to-locally-assemble-evs\/\">\r\n                            El Nasr Automotive to sign agreement with new Chinese partner to locally assemble EVs                        <\/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\/05\/el-nasr-automotive-to-sign-agreement-with-new-chinese-partner-to-locally-assemble-evs\/\" 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\/05\/el-nasr-automotive-to-sign-agreement-with-new-chinese-partner-to-locally-assemble-evs\/')\">\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\/05\/el-nasr-automotive-to-sign-agreement-with-new-chinese-partner-to-locally-assemble-evs\/\">\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=El Nasr Automotive to sign agreement with new Chinese partner to locally assemble EVs&url=https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/el-nasr-automotive-to-sign-agreement-with-new-chinese-partner-to-locally-assemble-evs\/\">\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\/05\/el-nasr-automotive-to-sign-agreement-with-new-chinese-partner-to-locally-assemble-evs\/&title=El Nasr Automotive to sign agreement with new Chinese partner to locally assemble EVs\">\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=El+Nasr+Automotive+to+sign+agreement+with+new+Chinese+partner+to+locally+assemble+EVs+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F04%2F05%2Fel-nasr-automotive-to-sign-agreement-with-new-chinese-partner-to-locally-assemble-evs%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\/05\/el-nasr-automotive-to-sign-agreement-with-new-chinese-partner-to-locally-assemble-evs\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545603\" class=\"content-area-description single-story post-545603 post type-post status-publish format-standard hentry category-automotive tag-automotive tag-china tag-dongfeng tag-enterpriseam tag-evs 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-05\"><\/a> <strong>We\u2019re getting a new Chinese partner for EVs:<\/strong> State-owned El Nasr Automotive will sign next week with an unnamed Chinese company to locally assemble electric vehicles (EVs), El Nasr CEO Hany El Kholy told Enterprise. The upcoming agreement for the assembly of the EVs will be \u201cvery different\u201d from the abandoned pact with Chinese auto firm Dongfeng, he said, declining to get into further details right now.<\/p>\n<p><strong>Operation Replace Dongfeng:<\/strong> The government has been in talks with companies <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce49a938-231a-4de1-9120-364532a45c34\">to replace<\/a> Dongfeng since negotiations with the Chinese firm <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f0f9e19-5e30-400f-8dba-6213afd8fb58\">collapsed<\/a> in November over an import pricing dispute.<\/p>\n<p><strong>It doesn\u2019t look like the new partner is going to be helping out with production or stumping up capital:<\/strong> El Kholy said that the company will not be involved in the assembly process and won\u2019t make any investments into the project. Instead, it will give us the \u201cknow-how,\u201d he said. The government is currently in talks with a separate private-sector firm to assemble the vehicles alongside El Nasr, El Kholy added.<\/p>\n<p><strong>Dongfeng had been set for a <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/606d5e20-daa1-4108-a319-87c55deeb051\">bigger role<\/a><\/strong><strong> under the previous plan<\/strong>, which saw it earmark USD 12 mn for EV assembly with El Nasr as part of a USD 60 mn plan. The company would also have <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/42ebc60e-2d0f-40a7-a82e-41296a02f798\">rehabilitated<\/a> a mothballed factory owned by the state-owned firm.<\/p>\n<p><strong>We have the dealer lined up: <\/strong>El Nasr and the National Automotive Company (NATCO) will <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4931ca8e-a807-483d-be7c-d713a24af4db\">jointly set up<\/a> Egypt\u2019s first EV dealer, which will be the sole distributor of the vehicles that roll off the production line.<\/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\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/dongfeng\/\">Dongfeng<\/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\/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=\"545604\" 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=\"545604\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/545604\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545604\" class=\"content-area-description single-story post-545604 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.sodic.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/the-estate-sodic-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"545605\" 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=\"545605\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/last-nights-talk-shows-on-banque-du-libans-not-banktrupcy-the-weather\/\">\r\n                            Last Night\u2019s Talk Shows on Banque du Liban\u2019s not-banktrupcy + the weather                        <\/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\/05\/last-nights-talk-shows-on-banque-du-libans-not-banktrupcy-the-weather\/\" 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\/05\/last-nights-talk-shows-on-banque-du-libans-not-banktrupcy-the-weather\/')\">\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\/05\/last-nights-talk-shows-on-banque-du-libans-not-banktrupcy-the-weather\/\">\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 on Banque du Liban\u2019s not-banktrupcy + the weather&url=https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/last-nights-talk-shows-on-banque-du-libans-not-banktrupcy-the-weather\/\">\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\/05\/last-nights-talk-shows-on-banque-du-libans-not-banktrupcy-the-weather\/&title=Last Night\u2019s Talk Shows on Banque du Liban\u2019s not-banktrupcy + the weather\">\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+on+Banque+du+Liban%E2%80%99s+not-banktrupcy+%2B+the+weather+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F04%2F05%2Flast-nights-talk-shows-on-banque-du-libans-not-banktrupcy-the-weather%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\/05\/last-nights-talk-shows-on-banque-du-libans-not-banktrupcy-the-weather\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545605\" class=\"content-area-description single-story post-545605 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-banque-du-liban tag-enterpriseam tag-last-nights-talk-shows tag-ramadan wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The dampened newsflow courtesy of Ramadan meant another slow night on the <\/strong><strong>talk shows. <\/strong>With not much happening locally, the country\u2019s talking heads shifted their attention to Lebanon and the confusion that erupted when the country\u2019s deputy prime minister said the central bank had gone bankrupt. Both Al Tasea (<a href=\"https:\/\/www.youtube.com\/watch?v=uZ0ytZMR6jU\">watch, runtime: 1:04<\/a>) and Al Hekaya (<a href=\"https:\/\/www.youtube.com\/watch?v=aKZw2ciuKCM\">watch, runtime: 10:43<\/a>) cleared up the misunderstanding. We have more on the kerfuffle in our Around The World section, below.<\/p>\n<p><strong>It\u2019s getting hot in here: <\/strong>We\u2019re in for highs of between 38-39\u00b0C over the next few days, head of the Egyptian Meteorological Authority\u2019s analysis and forecast center Mahmoud Shahin said in a phone-in with Al Hekaya\u2019s Amr Adib (<a href=\"https:\/\/www.youtube.com\/watch?v=_IK-mnsiByE\">watch, runtime: 2:31<\/a>). Shahin warned people against direct exposure to the sun while fasting and stripping off layers too quickly.<\/p>\n<p><strong>Your mandatory Ramadan drama coverage: <\/strong>Touba star Diab virtually joined Adib to praise his co-stars (<a href=\"https:\/\/www.youtube.com\/watch?v=Mi1hT3BqcEA\">watch, runtime: 4:07<\/a>), while Al Tasea showed Al Ekhtyar 3 some more love (<a href=\"https:\/\/www.youtube.com\/watch?v=rcWVqKaccP4\">watch, runtime: 2:23<\/a>).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-du-liban\/\">Banque du Liban<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"545606\" 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 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id=\"545607\" 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=\"545607\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/egypt-in-the-news-helping-hands-from-our-friends-in-the-gulf-and-at-the-imf\/\">\r\n                            Egypt in the News: Helping hands from our friends in the Gulf and at the IMF                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta 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<li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/egypt-in-the-news-helping-hands-from-our-friends-in-the-gulf-and-at-the-imf\/&title=Egypt in the News: Helping hands from our friends in the Gulf and at the IMF\">\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+Helping+hands+from+our+friends+in+the+Gulf+and+at+the+IMF+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F04%2F05%2Fegypt-in-the-news-helping-hands-from-our-friends-in-the-gulf-and-at-the-imf%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" 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backing are getting attention in the foreign press this morning:<\/strong> <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/egypt-gets-gulf-help-again-eyes-turn-currency-flexibility-2022-04-04\/\">Reuters<\/a> is picking up on <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce28f2c9-69b3-4c78-b2ab-1eb5d194e101\">pledges from<\/a> the UAE, Qatar and Saudi Arabia of up to USD 22 bn in investment and central bank deposits to support Egypt\u2019s finances through the fallout from the war in Ukraine.. The newswire also names Egypt in an <a href=\"https:\/\/www.reuters.com\/business\/russia-ukraine-fallout-starts-felling-fragile-frontier-economies-2022-04-04\/\">analysis<\/a> of \u201cfrontier economies\u201d facing risks on the back of the volatility stirred up by the war. Meanwhile, rights groups <a href=\"https:\/\/www.hrw.org\/news\/2022\/04\/04\/imf-prioritize-social-protection-egypt-loan-talks\">have urged<\/a> the IMF to prioritize social protection <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f0975edf-53e6-4124-90c6-965a54f7fc41\">during ongoing talks with Cairo<\/a> on a new financial package.<\/p>\n<p><strong>Also making headlines: <\/strong><\/p>\n<ul>\n<li><strong>PHOTO ESSAY- \u201cGive us our daily bread\u201d:<\/strong> Cairo-based photojournalist Hamada Elrasam captures the lives of Egyptians struggling with rising food prices caused by the Ukraine war. (<a href=\"https:\/\/www.theguardian.com\/global-development\/gallery\/2022\/apr\/04\/bread-egypt-the-worlds-biggest-wheat-importer-ukraine-war-is-a-disaster\">The Guardian<\/a>)<\/li>\n<li><strong>Egypt is trying to consolidate ties in East Africa<\/strong> amid its rift with Ethiopia over the disputed Grand Ethiopian Renaissance Dam. (<a href=\"https:\/\/www.theafricareport.com\/189866\/egypt-cairo-strengthens-its-influence-in-east-africa-against-ethiopia\/\">The Africa Report<\/a>)<\/li>\n<li><strong>Egypt\u2019s banks<\/strong> increase focus on consumer finance. (<a href=\"https:\/\/www.euromoney.com\/article\/29w6kwc8a7rbo579ux9fk\/fintech\/egypts-banks-increase-focus-on-consumer-opportunity\">Euromoney<\/a>)<\/li>\n<li>More love for <strong>Khazna<\/strong>\u2019s big USD 38 mn round. (<a href=\"https:\/\/techcrunch.com\/2022\/03\/31\/egyptian-financial-super-app-khazna-raises-38m-from-quona-capital-and-lendable\/\">TechCrunch<\/a>)<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/imf\/\">IMF<\/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\/qatar\/\">Qatar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia-ukraine-war\/\">Russia-Ukraine war<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"545608\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"545609\" 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=\"545609\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/te-partners-with-amsterdam-firm-to-launch-internet-exchange-point\/\">\r\n                            TE partners with Amsterdam firm to launch internet exchange point                        <\/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\/05\/te-partners-with-amsterdam-firm-to-launch-internet-exchange-point\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4bfdd2f7-7940-40a6-836d-6f80b2501478\">EG-IX<\/a> is an open-access platform that allows large network, cloud and telecom providers to directly exchange data. The Amsterdam exchange is providing infrastructure, software, firewalls and technical support for the project, which is housed in the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2efa461d-aa5d-437b-beb8-2ad99354d1e1\">country\u2019s largest data center<\/a>, launched last year. The center is connected to TE\u2019s 14 Mediterranean and Red Sea subsea cable systems, which will be increased to 18 by 2025.<\/p><p><strong>ALSO- <\/strong>Alexandria\u2019s <strong><a href=\"https:\/\/promo.elitehospital.org\/\">Elite Hospital<\/a><\/strong> has partnered with US-based medical device company <strong><a href=\"https:\/\/europe.medtronic.com\">Medtronic<\/a><\/strong> to launch an <strong>advanced stroke care center<\/strong> (<a href=\"https:\/\/ent.news\/2022\/4\/Medtronic-Elite-Hospital-Stroke-PRL-29.03.22_EN17-1.pdf\">pdf<\/a>).<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/data-infrastructure\/\">Data infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/elite-hospital\/\">Elite Hospital<\/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\/internet-exchange\/\">internet exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/subsea-cables\/\">subsea cables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/telecom-egypt\/\">Telecom Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"545610\" 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=\"545610\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/usd-1-bn-ipo-in-the-works-for-aramco-subsidiary-the-uk-wants-in-on-nfts\/\">\r\n                            USD 1 bn IPO in the works for Aramco subsidiary + the UK wants in on NFTs                        <\/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\/05\/usd-1-bn-ipo-in-the-works-for-aramco-subsidiary-the-uk-wants-in-on-nfts\/\" 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\/05\/usd-1-bn-ipo-in-the-works-for-aramco-subsidiary-the-uk-wants-in-on-nfts\/')\">\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\/05\/usd-1-bn-ipo-in-the-works-for-aramco-subsidiary-the-uk-wants-in-on-nfts\/\">\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=USD 1 bn IPO in the works for Aramco subsidiary + the UK wants in on NFTs&url=https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/usd-1-bn-ipo-in-the-works-for-aramco-subsidiary-the-uk-wants-in-on-nfts\/\">\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\/05\/usd-1-bn-ipo-in-the-works-for-aramco-subsidiary-the-uk-wants-in-on-nfts\/&title=USD 1 bn IPO in the works for Aramco subsidiary + the UK wants in on NFTs\">\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=USD+1+bn+IPO+in+the+works+for+Aramco+subsidiary+%2B+the+UK+wants+in+on+NFTs+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F04%2F05%2Fusd-1-bn-ipo-in-the-works-for-aramco-subsidiary-the-uk-wants-in-on-nfts%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\/05\/usd-1-bn-ipo-in-the-works-for-aramco-subsidiary-the-uk-wants-in-on-nfts\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545610\" class=\"content-area-description single-story post-545610 post type-post status-publish format-standard hentry category-planet-finance tag-aramco tag-crypto-regulation tag-enterpriseam tag-financial-markets tag-inflation tag-ipo-watch tag-jpmorgan tag-london-metal-exchange tag-luberef tag-nfts tag-nickel tag-planet-finance tag-tadawul tag-turkey tag-uk 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> Yet another Gulf IPO? Saudi Aramco subsidiary Luberef is looking to make its <\/strong><strong>Tadawul debut <\/strong>in an IPO that could raise over USD 1 bn, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-04-04\/saudi-aramco-s-luberef-refinery-is-said-to-plan-1-billion-ipo?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a>reports citing people familiar with the matter. The company reportedly plans to sell a 30% stake currently owned by <a href=\"https:\/\/www.jadwa.com\/\">Jadwa Investment<\/a> and has tapped the local unit of HSBC and SNB Capital to advise on the move. Surging oil prices are helping the Gulf lead <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bdd8bf22-5ae2-4aa6-90d7-2eb0e664789d\">an IPO boom<\/a> in the MENA region, helping it to surpass the European IPO market for only the second time since the global financial crisis (the other time being 2019, when Aramco made its whopper USD 30 bn debut).<\/p><p><strong>The British government jumps on the NFT bandwagon: <\/strong>The UK\u2019s state-owned coin producer <a href=\"https:\/\/www.royalmint.com\/\">Royal Mint<\/a> will create and issue its own NFT by the summer, according to a <a href=\"https:\/\/www.gov.uk\/government\/news\/government-sets-out-plan-to-make-uk-a-global-cryptoasset-technology-hub\">statement<\/a>. \u201cThis is part of our plan to ensure the UK financial services industry is always at the forefront of technology and innovation,\u201d Chancellor Rishi Sunak said. The country is also looking to recognize stablecoins \u2014 cryptocurrencies backed (and priced) against the value of existing currencies or commodities \u2014 as a valid form of payment, as it looks to position itself as a global crypto hub.<\/p><p><strong>In other financial news:<\/strong><\/p><ul>\n<li><strong>The London Metal Exchange is <\/strong><strong><a href=\"https:\/\/www.fca.org.uk\/news\/statements\/uk-financial-regulation-authorities-london-metal-exchange-lme-clear\">facing a probe<\/a><\/strong> into its handling of the nickel market last month, when it was forced to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dff62b40-9b9e-4848-a8ab-0031c7c19441\">suspend trading<\/a> twice due to historic price swings triggered by Russia\u2019s invasion of Ukraine.<\/li>\n<li><strong>JPMorgan could lose USD 1 bn \u201cover time\u201d due to its direct exposure to <\/strong><strong>Russia<\/strong>, and is also concerned about secondary impacts from sanctions and Russian moves in response, bank CEO said in his <a href=\"https:\/\/reports.jpmorganchase.com\/investor-relations\/2021\/ar-ceo-letters.htm\">annual letter to shareholders<\/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-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>11,529<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: -3.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 18.21<\/p>\n<\/td>\n<td>\n<p>Sell 18.31<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 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-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>13,165<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: +16.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>10,057<\/p>\n<\/td>\n<td>\n<p>+1.3% (YTD: +18.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,520<\/p>\n<\/td>\n<td>\n<p>-0.5% (YTD: +10.1%)<\/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>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,583<\/p>\n<\/td>\n<td>\n<p>+0.8% (YTD: -3.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,559<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: +2.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td>\n<p>3,951<\/p>\n<\/td>\n<td>\n<p>+0.8% (YTD: -8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 107.53<\/p>\n<\/td>\n<td>\n<p>+3.0%<\/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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 5.78<\/p>\n<\/td>\n<td>\n<p>+1.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,937.60<\/p>\n<\/td>\n<td>\n<p>+0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 46,435<\/p>\n<\/td>\n<td>\n<p>-1.8% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 fell 0.3% at yesterday\u2019s close<\/strong> on turnover of EGP 907.64 mn (7% below the 90-day average). Foreign investors were net sellers. The index is down 3.5% YTD.<\/p><p><strong>In the green: <\/strong>Medinet Nasr Housing (+6.14%), MM Group (+5.24%) and Palm Hills (+4.1%).<\/p><p><strong>In the red: <\/strong>EFG Hermes (-2.6%), Fawry (-2.2%) and AMOC (-2.0%).<\/p><p><strong>Asian markets are largely up in early trading this morning<\/strong>, while futures suggest Wall Street will open in the red. The UK\u2019s FTSE 100 index and the Euro Stoxx 500 also look set to drop on open, even as most European indexes were up ahead of the day\u2019s trading.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/crypto-regulation\/\">crypto regulation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jpmorgan\/\">JPMorgan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/london-metal-exchange\/\">London Metal Exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/luberef\/\">Luberef<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nfts\/\">NFTs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nickel\/\">Nickel<\/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\/tadawul\/\">Tadawul<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uk\/\">UK<\/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=\"545611\" 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=\"545611\">\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\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/shrodingers-central-bankruptcy\/\">\r\n                            Shrodinger\u2019s central bankruptcy                        <\/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\/05\/shrodingers-central-bankruptcy\/\" 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\/05\/shrodingers-central-bankruptcy\/')\">\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\/05\/shrodingers-central-bankruptcy\/\">\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=Shrodinger\u2019s central bankruptcy&url=https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/shrodingers-central-bankruptcy\/\">\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\/05\/shrodingers-central-bankruptcy\/&title=Shrodinger\u2019s central bankruptcy\">\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=Shrodinger%E2%80%99s+central+bankruptcy+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F04%2F05%2Fshrodingers-central-bankruptcy%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\/05\/shrodingers-central-bankruptcy\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545611\" class=\"content-area-description single-story post-545611 post type-post status-publish format-standard hentry category-around-the-world tag-around-the-world tag-banque-du-liban tag-enterpriseam tag-lebanon wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The Lebanese central bank is still solvent and <\/strong><strong>performing its role<\/strong>, Banque du Liban Governor Riad Salameh said in a statement picked up by <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/lebanon-central-bank-governor-says-central-bank-still-functioning-statement-2022-04-04\/\">Reuters<\/a>, denying claims by Deputy Prime Minister Saade Chami that the bank had gone bankrupt. \u201cUnfortunately, the state is bankrupt, as is the central bank, so we have a problem \u2026 the loss has occurred,\u201d Chami said in an interview (<a href=\"https:\/\/www.youtube.com\/watch?v=G-M2MSs1koM\">watch, runtime: 3:02<\/a>). Prime Minister Najib Mikati also sought to clarify his deputy\u2019s statements, saying he believed Chami was referring to \u201cliquidity, not solvency.\u201d The country is facing runaway inflation and a currency crisis after defaulting on over USD 30 bn worth of debt last year, but could soon land <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ed327050-5f81-45b5-b5cd-821d4c28301b\">IMF funding<\/a> to help dig it out of the hole.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/around-the-world\/\">Around the World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-du-liban\/\">Banque du Liban<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lebanon\/\">Lebanon<\/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 going-green wp-block-group issue-section\" id=\"545612\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/goinggreen\/\">\r\n                            Read going Green                        <\/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\">11<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/the-cairene-smog-comes-at-a-cost\/\">\r\n                            The Cairene smog comes at a cost<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/the-cairene-smog-comes-at-a-cost\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The study, which looks at the impact of pollution on economies in the MENA region, finds that Egypt pays the greatest cost for poor air quality, spending the equivalent of almost 4% of GDP a year due to its high rate of pollution-related disease.<\/p>\n<p><strong>Air pollution is up there among the biggest threats to public health:<\/strong> People who breathe high concentrations of particulates are more likely to suffer cardiovascular diseases, respiratory problems and cancer.<\/p>\n<p><strong>Industrial activity and waste are mostly to blame:<\/strong> Although it\u2019s not straightforward to pin down what is causing air pollution, agricultural waste burning, industrial activity and fossil fuel combustion are the primary culprits in the region.<\/p>\n<p><strong>This is a problem across the region:<\/strong> The Middle East and North Africa region has the second highest polluted air in the world and the greatest pollution-related morbidity rate in the world, costing it USD 141 bn (or around 2% of annual GDP) in annual welfare costs alone, according to the report.<\/p>\n<p><strong>But it\u2019s particularly pronounced in Egypt<\/strong>, which has the highest pollution-related death rate in the region. In 2019, more than 150 per 100k people in Egypt were estimated to have died prematurely due to diseases linked to air pollution, followed by Oman and Qatar (125+ deaths per 100k) and Iraq (122 per 100k). Other estimates put the 2019 death toll at 90k, equivalent to almost 250 a day.<\/p>\n<p><strong>This exacts an economic, as well as a health cost:<\/strong> In 2013, Egypt suffered welfare losses equivalent to 3.6% of annual GDP due to diseases linked to air pollution, the joint-highest in MENA. Egypt also led the region in lost labor output \u2014 caused by people being too sick to work and a drop in productivity \u2014 which was estimated to cost the country almost 0.3% of GDP. The impact on people working in Egypt\u2019s informal sector, who according to <a href=\"https:\/\/www.mei.edu\/blog\/egypts-sizeable-informal-economy-complicates-its-pandemic-response\">one estimate<\/a> make up 63% of those employed, is more severe due to the loss of income suffered when ill or looking after sick family members.<\/p>\n<p><strong>Tourism could also be affected:<\/strong> Another, less quantified component of the report, claims that high levels of pollution may have negative effects on tourism revenues in the future, saying that \u201cdegraded skies can damage tourists\u2019 image of a certain city and hence reduce their willingness to visit it.\u201d Tourism is one the country\u2019s most important sources of income and in 2019 accounted for 19% of total GDP.<\/p>\n<p><strong>How do we measure up to global standards? (Hint: Not well).<\/strong> World Health Organization (WHO) guidelines suggest that people\u2019s exposure to particulate matter <a href=\"https:\/\/www.who.int\/news-room\/fact-sheets\/detail\/ambient-(outdoor)-air-quality-and-health\">should not exceed 5 micrograms per cubic meter of air<\/a> per year. In the MENA region, residents are exposed to more than 10 times this amount, and in Cairo, levels were 15.2 times that limit in 2018.<\/p>\n<p><strong>There have been improvements, though:<\/strong> Despite having the worst air quality in the region, a <a href=\"https:\/\/www.sciencedirect.com\/science\/article\/abs\/pii\/S1352231020304684\">2020 study<\/a> found that Egypt has been steadily reducing pollution levels in some areas even as it appears to have worsened in others.<\/p>\n<p><strong>#1- Transportation:<\/strong> The opening of a Metro Line 3 was associated with a 3% reduction in particulate matter concentration in the city in 2019, according to the report. And plans for a fourth line, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/89cb9259-bf42-42bc-acdb-354768318727\">the light rail<\/a> connecting Cairo to the new capital, and the monorail may also decrease the volume of cars in the capital.<\/p>\n<p><strong>#2- Pollution reduction:<\/strong> Projects like the Environment Ministry\u2019s Egyptian Pollution Abatement Programme (EPAP) launched in 1991 have been set up to encourage investment in less harmful industrial processes through World Bank-backed loans. The most recent phase of the project in 2015 saw a EUR 120 mn credit line extended to finance these transitions. The second phase of the project reportedly saw an average 91% reduction in air pollution across the 35 sub projects financed by EPAP.<\/p>\n<p><strong>#3- Controlling Cairo\u2019s \u201cBlack Cloud\u201d: <\/strong>Rice husk burning in rural parts of Egypt has typically contributed to the seasonal appearance of a large \u201cBlack Cloud\u201d looming over the Greater Cairo Region. These large scale waste disposal methods have long contributed to a serious degradation in air quality during the months of October and November. In 2014 some 946 fires linked to the rice husk burning were recorded in the Delta region, the report says, citing NASA observations. But as of 2015, the government has instituted hefty fines of up to EGP 100k on waste burning and has extended incentives for traders to purchase agricultural refuse and sell it to private companies (who also receive government subsidies) to manufacture goods with. The effort has since 2015 contributed to a significant decrease in burning and marked improvement in air quality during typical burning seasons, the report indicates.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top climate stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Microsoft could pitch in on COP27 prep: <\/strong>PM Mostafa Madbouly and Microsoft Chairman Brad Smith discussed the firm\u2019s potential support for the upcoming COP27 summit in Sharm El Sheikh (<a href=\"https:\/\/ent.news\/2022\/4\/PM-welcome-Microsoft-head-release.pdf\">statement, pdf<\/a>).<\/li>\n<li><strong>Cheaper financing is <\/strong><strong>key to closing<\/strong><strong> the global gap in renewable energy production. <\/strong>Read our <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/077f12e6-cd4d-46a3-98a5-dd0889a259a2\">deep dive<\/a> into inequality in climate finance to understand why.<\/li>\n<li><strong>Scatec consortium inks Ain Sokhna green hydrogen pact:<\/strong> The SFE, Norway\u2019s Scatec, Nassef Sawiris-backed ammonia producer Fertiglobe and Orascom Construction <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3b3e6cad-637c-4ca8-afe6-94472fcc12d4\">signed an agreement<\/a> to establish and operate their planned 100 MW green hydrogen plant in Ain Sokhna.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/environment\/\">environment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/health\/\">health<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-bank\/\">World Bank<\/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=\"545614\" 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\/05\/545614\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-545614\" class=\"content-area-description single-story post-545614 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>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\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":545591,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-545590","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"135c81f1-72b4-4815-af4f-7a75fb77286c","teaser":"","photo_url":"https:\/\/ent.news\/2022\/4\/5.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>Saudi sovereign wealth fund PIF is eyeing Wataniya + Siemens-built power plants - 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\/saudi-sovereign-wealth-fund-pif-is-eyeing-wataniya-siemens-built-power-plants\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Saudi sovereign wealth fund PIF is eyeing Wataniya + Siemens-built power plants\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/saudi-sovereign-wealth-fund-pif-is-eyeing-wataniya-siemens-built-power-plants\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T21:07:39+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\/5.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\/saudi-sovereign-wealth-fund-pif-is-eyeing-wataniya-siemens-built-power-plants\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/saudi-sovereign-wealth-fund-pif-is-eyeing-wataniya-siemens-built-power-plants\/\",\"name\":\"Saudi sovereign wealth fund PIF is eyeing Wataniya + Siemens-built power plants - 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