{"id":546329,"date":"2022-05-12T03:52:18","date_gmt":"2022-05-12T03:52:18","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=546329"},"modified":"2025-12-15T21:24:56","modified_gmt":"2025-12-15T21:24:56","slug":"we-just-took-another-step-towards-sustainable-development-bonds","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/we-just-took-another-step-towards-sustainable-development-bonds\/","title":{"rendered":"We just took another step towards sustainable development bonds"},"content":{"rendered":"<section id=\"546331\" 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=\"546331\">\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\/05\/12\/this-morning-samih-sawiris-steps-down-as-ode-chairman-shoukry-to-co-chair-climate-meeting-in-copenhagen-us-inflation-data-spooks-markets\/\">\r\n                            THIS MORNING: Samih Sawiris steps down as ODE chairman; Shoukry to co-chair climate meeting in Copenhagen; US inflation data spooks markets                        <\/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\/05\/12\/this-morning-samih-sawiris-steps-down-as-ode-chairman-shoukry-to-co-chair-climate-meeting-in-copenhagen-us-inflation-data-spooks-markets\/\" 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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US inflation data spooks markets&url=https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/this-morning-samih-sawiris-steps-down-as-ode-chairman-shoukry-to-co-chair-climate-meeting-in-copenhagen-us-inflation-data-spooks-markets\/\">\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\/05\/12\/this-morning-samih-sawiris-steps-down-as-ode-chairman-shoukry-to-co-chair-climate-meeting-in-copenhagen-us-inflation-data-spooks-markets\/&title=THIS MORNING: Samih Sawiris steps down as ODE chairman; Shoukry to co-chair climate meeting in Copenhagen; US inflation data spooks markets\">\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+Samih+Sawiris+steps+down+as+ODE+chairman%3B+Shoukry+to+co-chair+climate+meeting+in+Copenhagen%3B+US+inflation+data+spooks+markets+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F05%2F12%2Fthis-morning-samih-sawiris-steps-down-as-ode-chairman-shoukry-to-co-chair-climate-meeting-in-copenhagen-us-inflation-data-spooks-markets%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\/05\/12\/this-morning-samih-sawiris-steps-down-as-ode-chairman-shoukry-to-co-chair-climate-meeting-in-copenhagen-us-inflation-data-spooks-markets\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-546331\" class=\"content-area-description single-story post-546331 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-bonds tag-climate tag-cop27 tag-cryptocurrency tag-enterpriseam tag-financial-markets tag-inflation tag-orascom-development-egypt tag-sameh-shoukry tag-samih-sawiris 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>It\u2019s another heavy news day, wonderful people<\/strong>, with tons of investment news here at home and no sign that the macro clouds will soon part globally.<\/p><p><strong>THE BIG STORY here at home: <\/strong>The (macro) weather outside may be frightful, but the investment news here at home is delightful as <strong>Total Energies<\/strong> and <strong>Ennara Capital<\/strong> became the latest players to say they\u2019re going to build a large-scale green ammonia facility in the SCZone. Meanwhile, a German fiberboard maker is entering Egypt in a JV with <strong>EKH<\/strong> and logistics startup <strong>Mylers<\/strong> is planning expansion at home and abroad after raising a nearly USD 10 mn round.<\/p><p><strong>WATCH THIS SPACE-<\/strong> The EGP unexpectedly strengthened against the greenback yesterday, jumping to EGP 18.42 \/ USD from EGP 18.53 on Tuesday, according to central bank data.<\/p><p><strong>SIGN OF THE TIMES- The EU will no longer mandate facemasks on flights starting Monday<\/strong>, according to fresh official guidance, according to a <a href=\"https:\/\/www.ecdc.europa.eu\/en\/news-events\/easa-and-ecdc-take-first-steps-relax-covid-19-measures-air-travel\">statement<\/a> out yesterday.<\/p><hr class=\"grey-line\"><p><a id=\"tldr-story-05\" class=\"content-anchor\"><\/a> <strong>PASSING THE BATON<\/strong><strong> at Orascom Development Holding: <\/strong>Yesterday was Naguib Samih Sawiris\u2019 first day as chairman of SIX Swiss Exchange-listed <a href=\"https:\/\/www.orascomdh.com\/\">Orascom Development Holding<\/a> after his father, business icon Samih Sawiris, stepped down on Tuesday at the company\u2019s annual general meeting in Altdorf (<a href=\"https:\/\/ent.news\/2022\/5\/ODH_AGM_Results_Press_Release_-_English_final.pdf\">regulatory filing, pdf<\/a>). Samih\u2019s retirement was long-planned and had previously been communicated to shareholders.<\/p><p><strong>Samih will continue to serve as an \u201cunpaid consultant\u201d to Naguib<\/strong>, the younger Sawiris joked in an email to the group\u2019s more than 7k employees. Samih will be devoting his time to passions including education, healthcare, and marine preservation as Naguib pushes ahead with a strategy to \u201cgrow ODH into the category-defining destination development company.\u201d You can <a href=\"https:\/\/ent.news\/2022\/5\/ODH_Samih_internal_memo.pdf\">read the full internal email here (pdf)<\/a>.<\/p><p><strong>Any of us who have ever enjoyed a day in El Gouna \u2014 or anywhere else on the southern Red Sea coast \u2014 owes Samih a debt of gratitude. <\/strong>The purpose-built city, along with its emphasis on quality and building in harmony with the natural environment, transformed a barren piece of land served by one quiet road into a vibrant town. That town, in turn, catalyzed the transformation of the Red Sea coast into a world-class destination.<\/p><p><strong>El Gouna has proven that you don\u2019t need to reside in the capital to live, love and build a business in Egypt.<\/strong> Look no further than it having provided a safe haven to many in our community when covid-19 hit two years ago \u2014 plenty of us have simply chosen never to move back to Cairo.<\/p><p><strong>Samih exported these ideas <\/strong>to Switzerland, the UAE, Oman, Morocco, the UK, and Montenegro, transforming his company into a multinational organization with deep Egyptian roots.<\/p><p><strong>Samih is easy to admire even if Gouna isn\u2019t your thing: <\/strong>The man built a company with more than 10 destinations, serving some 6 mn tourists, with some 10k homes, while staying true to his belief that \u201cin life and business we can all win together \u2014 no one needs to lose for the other to win.\u201d More of this, please.<\/p><hr class=\"grey-line\"><p><strong>WATCH THIS SPACE<\/strong>- Egypt plans the issuance of panda bonds in China, Finance Minister Mohamed Maait told Chinese Ambassador to Cairo Liao Liqiang, according to a ministry <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/400564732113953\">statement<\/a> that did not provide a timeframe for the issuance.<\/p><p><strong>The sale of <\/strong><strong>CNY-denominated bonds<\/strong><strong> in China, the world\u2019s second-largest bond market, <\/strong>would contribute in \u201cdiversifying debt instruments, attracting new investors and lowering and diversifying funding sources for development investments,\u201d he said. If the plan goes through, it would follow Egypt\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6170918c-d131-411e-a667-a3f24c66a66c\">samurai bond debut<\/a> in late March, which was taken to market despite the economic fallout from the Russian invasion of Ukraine.<\/p><p><strong>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p><p><strong>Foreign Minister and COP27 President Sameh Shoukry is in Copenhagen today to <\/strong><strong>co-chair <\/strong><strong><a href=\"https:\/\/en.kefm.dk\/news\/news-archive\/2022\/may\/media-advisory-world-climate-leaders-meet-in-copenhagen-for-may-ministerial-\">a meeting of climate leaders<\/a><\/strong> to discuss progress meeting Paris climate targets. The two-day summit will be attended by UN climate change secretary Patricia Espinosa, while COP26 President Alok Sharma will chair the meeting alongside Shoukry.<\/p><p><strong>We have our official COP logo:<\/strong> The Foreign Ministry yesterday <a href=\"https:\/\/www.facebook.com\/photo\/?fbid=315138334129353&amp;set=a.110371067939415\">unveiled<\/a> the logo for the upcoming COP27 conference, which will take place in Sharm El Sheikh in November. <strong>Behold:<\/strong><\/p><p class=\"web-image\"><a href=\"https:\/\/www.facebook.com\/photo\/?fbid=315138334129353&amp;set=a.110371067939415\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/COP27-logo-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><strong>MEANWHILE- The PSA world squash championships get underway tomorrow.<\/strong> The men\u2019s and women\u2019s finals will be played on 22 May. There is USD 550k at stake for each of the men\u2019s and women\u2019s championships, making this <a href=\"https:\/\/psaworldtour.com\/news\/view\/9891\/record-prize-money-on-offer-at-2021-22-psa-world-championships\">the biggest purse on record<\/a> for a squash tourney. The CIB-sponsored championships will play out at SODIC\u2019s Club S Allegria and at the National Museum of Egyptian Civilization.<\/p><p><strong>NEXT WEEK- <\/strong><\/p><p><a id=\"tldr-story-02\" class=\"content-anchor\"><\/a> <strong>Keep an eye out for Madbouly\u2019s big presser at the start of next week:<\/strong> The promised press conference to announce new details of the state\u2019s response to the economic turmoil fallout from Russia\u2019s war in Ukraine will take place early next week, cabinet said in a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0mcTbUQ1q17oHay5SV5kNZSfsCQSp2R2un5S5rEtaBJ4jEb8to23pbJZPUvUaG4LJl?__cft__%5B0%5D=AZUBNObdn5zFxUMnNxZykL1EQy6NG2pPQKXdX9f-S4acW6SBP-A4xI8hSZiaxRMw_tL6xX4Zz_G69e_9Oz38LTpKEducPQoG3816-62HvedPYDlh_W8nEJP-Is_OOI9r3L3bW-d1D-PHoeGIBcCqK1i2&amp;__tn__=%2CO%2CP-R\">statement<\/a> yesterday following its weekly meeting. Cabinet is expected to reveal new details on how the government intends to attract more FDI and expand the private sector\u2019s role in the economy. <strong>Catch all the details from yesterday\u2019s meeting in our Cabinet Watch section, below.<\/strong><\/p><p><strong>A huge US <\/strong><strong><a href=\"https:\/\/www.amcham.org.eg\/events-activities\/missions\/us-business-missions-to-egypt\/36\/May-2022\/222\/about-the-mission\">\u201cGreenTech business mission\u201d<\/a><\/strong><strong> is inbound next week.<\/strong> More than 40 US companies will be in Egypt during 15-17 May to kick the tires on green investment and potential business partnerships in sectors ranging from energy to healthcare, agriculture, aviation, construction and water resource management. The high-level delegation will meet with members of the business community and senior government officials, including Prime Minister Moustafa Madbouly and other members of cabinet. The mission is being organized by AmCham and the US Chamber of Commerce.<\/p><p><strong>Saudi Crown Prince Mohamed bin Salman could be in town next week for talks with <\/strong><strong>President Abdel Fattah El Sisi<\/strong>, Ala Mas\u2019ouleety\u2019s Ahmed Moussa said last night, without giving any details (<a href=\"https:\/\/www.youtube.com\/watch?v=z-DtIo_RHPE\">watch, runtime: 3:01<\/a>).<\/p><p><strong>Saudi Arabia has been one of Egypt\u2019s main backers amid the Ukrainian crisis<\/strong>, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce28f2c9-69b3-4c78-b2ab-1eb5d194e101\">pledging<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce28f2c9-69b3-4c78-b2ab-1eb5d194e101\">some USD 15 bn to support Cairo<\/a> in shoring up finances from the global fallout from the war. El Sisi and MbS have been in frequent contact since March, most recently <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1811acdd-f112-4046-9c62-8240d110e241\">speaking on the phone this week<\/a>.<\/p><p><strong>It\u2019s interest rate week:<\/strong> The Central Bank of Egypt will meet to review interest rates on Thursday, 19 May. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/df66965c-f7ca-459c-b270-c296532a1a9b\">Our customary poll<\/a> of analysts sees the central bank getting more aggressive with its tightening cycle, with five of seven respondents expecting rates to rise by as much as 200 bps on the back of rising inflation and emerging-market outflows.<\/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>THE BIG STORY ABROAD<\/strong><strong>- US media are leading with the latest in the escalating political <\/strong><strong>battle over abortion rights:<\/strong> Senate Republicans have blocked an attempt by Democrats to pass a federal law preserving the right to abortion as the conservative-dominated Supreme Court prepares to overturn the landmark Roe v Wade decision. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-05-11\/democrats-head-toward-doomed-vote-to-advance-abortion-rights?srnd=premium&amp;sref=mmeFTDW1\">Bloomberg<\/a> | <a href=\"https:\/\/www.nytimes.com\/2022\/05\/11\/us\/abortion-bill-blocked-senate.html\">NYT<\/a> | <a href=\"https:\/\/www.reuters.com\/world\/us\/us-senate-democrats-put-abortion-rights-bill-test-wednesday-2022-05-11\/\">Reuters<\/a> | <a href=\"https:\/\/apnews.com\/article\/abortion-biden-us-supreme-court-filibusters-congress-759beeba80ac56aa95271711a8e915da\">AP<\/a>)<\/p><p><strong>MARKET WATCH- <\/strong><\/p><p><a id=\"tldr-story-08\" class=\"content-anchor\"><\/a> <strong>Fresh data suggests high US inflation is becoming more entrenched: <\/strong>US inflation fell to 8.3% in April, dropping for the first time since August 2021, according to the country\u2019s latest <a href=\"https:\/\/www.bls.gov\/news.release\/cpi.nr0.htm\">consumer price index<\/a>. <strong>Prices remained near 40-year highs in April<\/strong> and didn\u2019t cool as much as expected, while core inflation rose above forecasts and prices in the services sector continued to accelerate. \u201cThis moves the balance of risks to more concern about inflation going forward,\u201d one analyst told the <a href=\"https:\/\/www.ft.com\/content\/b91996b3-79b2-4f41-acc9-651a0952008f\">Financial Times<\/a>.<\/p><p><strong>The markets certainly didn\u2019t take many positives from the release:<\/strong> US equities continued to slide yesterday as investors fretted about whether the Federal Reserve could accelerate its tightening cycle in response to the figures. Tech once again bore the brunt of the sell-off, with <strong>the Nasdaq falling another 3.2% during the session<\/strong>. The S&amp;P 500 lost 1.7%.<\/p><p><strong>So much for that inflation hedge:<\/strong> Crypto assets continued to be hammered by the risk off, with BTC falling below USD 30k to its lowest level since December 2020. Shares in crypto exchange Coinbase dived more than 26%, leaving it down 85% since IPOing in April 2021. And TerraUSD, a stablecoin pegged to the USD, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-05-11\/terrausd-stablecoin-plunges-as-crypto-market-awaits-rescue?sref=mmeFTDW1\">was in freefall<\/a> yesterday after busting its peg and sending its linked cryptocurrency Luna down 98%.<\/p><p><strong>Investors are throwing out junk bonds as market rout spreads: <\/strong>High-yield, high-risk bonds \u2014 known as \u201cjunk\u201d \u2014 are the latest asset category to fall victim to the wider selloff in the markets, with US junk bonds now trading at their lowest prices since the start of the covid pandemic, t<a href=\"https:\/\/www.wsj.com\/articles\/stocks-turmoil-spreads-to-junk-bonds-hurts-deals-11652261581?mod=hp_lead_pos3\">he Wall Street Journal<\/a> writes. Yields for the below investment-grade bonds have been climbing steadily since the Federal Reserve started gearing up for its tightening cycle, but this week\u2019s selloff in equities has investors \u201cspooked\u201d and running for the exit amid talk of a brewing recession, portfolio managers said.<\/p><p><strong>The equity sell-off is continuing in Asia this morning<\/strong>, with most exchanges in the red ahead of dispatch time. Futures indicate that European shares will follow them when markets open in a few hours, though on Wall Street shares are currently on course to rise in early trading.<\/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\/bonds\/\">Bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate\/\">Climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cryptocurrency\/\">cryptocurrency<\/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\/orascom-development-egypt\/\">Orascom Development Egypt<\/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\/samih-sawiris\/\">Samih Sawiris<\/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=\"546332\" 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=\"546332\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/546332\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-546332\" class=\"content-area-description single-story post-546332 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\/4\/Somabay-endurancefestival1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n<p>The Spring Edition of the Somabay Endurance Festival takes place from May 26-28, featuring a host of different races suitable for all ages and abilities. Join this family-friendly sports event by signing up at www.thetrifactory.com and get ready to #ExperienceEndurance. Book now: www.thetrifactory.com\/somabay<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"546333\" 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=\"546333\">\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\">Cabinet watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/another-step-towards-sustainable-bonds\/\">\r\n                            Another step towards sustainable bonds                        <\/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\/05\/12\/another-step-towards-sustainable-bonds\/\" 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\/05\/12\/another-step-towards-sustainable-bonds\/')\">\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\/05\/12\/another-step-towards-sustainable-bonds\/\">\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=Another step towards sustainable bonds&url=https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/another-step-towards-sustainable-bonds\/\">\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\/05\/12\/another-step-towards-sustainable-bonds\/&title=Another step towards sustainable bonds\">\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=Another+step+towards+sustainable+bonds+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F05%2F12%2Fanother-step-towards-sustainable-bonds%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\/05\/12\/another-step-towards-sustainable-bonds\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/150.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"546334\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/another-step-towards-sustainable-bonds\/150-jpeg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/150.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"150.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/150.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/150.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-546333\" class=\"content-area-description single-story post-546333 post type-post status-publish format-standard has-post-thumbnail hentry category-cabinet-watch tag-agriculture tag-cabinet-watch tag-consumer-finance tag-cop27 tag-debt tag-enterpriseam tag-financial-regulatory-authority tag-france tag-kuwait tag-madbouly-government tag-smes tag-tax tag-transport wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Cabinet backs sustainable development agenda<\/strong><strong>:<\/strong> Ministers have approved a plan by the Finance Ministry to broaden its green financing framework to include sustainable development bonds, allowing the state to raise money for a wider array of social and environmental projects, cabinet said in <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/400607705442989\">a statement<\/a> following its weekly meeting yesterday.<\/p>\n<p><strong>Wait, what exactly are sustainable development bonds?<\/strong> Think green bonds, but instead of financing energy efficiency and renewable energy initiatives, the money can be channeled into a wider range of projects that deliver socially-beneficial outcomes. Initiatives that help to reduce poverty, improve vital services like health and education, and promote gender equality are all examples of projects that can be funded via sustainable development bonds.<\/p>\n<p><strong>Another first for Egypt and the region:<\/strong> Egypt is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/199e5d40-1615-47e9-8990-e93f1ab1a9aa\">considering issuing sustainable development bonds<\/a> to finance the Decent Life initiative. This would be the first time the government has issued a bond of this type. Egypt sold the MENA region\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5d1b54d5-5efa-41c9-ac8b-728b105b2ef0\">first-ever sovereign green bond<\/a> in 2020.<\/p>\n<p style='font-size: 18px;font-weight: bold' >DEBTOR\u2019S PRISON<\/p>\n<p><strong>SME and consumer borrowers who fail to meet their repayments could face jail time and fines<\/strong> under amendments to the <a href=\"https:\/\/www.shalakany.com\/newsletter\/the-new-consumer-finance-law\/\">consumer finance<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7dfc049d-6585-4dd9-95fe-2599d45aee55\">microfinance<\/a> laws approved by ministers yesterday. Failing to meet the terms of a financing agreement or fraudulently obtaining finance will be met with fines as much as double the amount he borrowed, the statement said. The length of prison sentences was not disclosed.<\/p>\n<p><strong>The amendments also ban third parties from acting as mediators or paid sponsors between lenders<\/strong>, and SME and consumer borrowers without first registering with the Financial Regulatory Authority. Penalties for breaching the regulation include jail time and \/ or a fine of EGP 50-500k.<\/p>\n<p><strong>Agriculture land tax suspended for another year<\/strong>: Cabinet has extended <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/372c56bb-e3eb-4519-8c8d-d1db9667805b\">the suspension<\/a> of the 14% agricultural land tax (known informally as the \u201cmud tax\u201d) for another year. The tax was lifted in 2017 to support farmers and encourage them to increase production.<\/p>\n<p><strong>Also from the meeting<\/strong><strong>:<\/strong><\/p>\n<ul>\n<li><strong>A unit tasked with resolving issues facing investors will be established <\/strong>under the auspices of Madbouly, according to a separate <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0mcTbUQ1q17oHay5SV5kNZSfsCQSp2R2un5S5rEtaBJ4jEb8to23pbJZPUvUaG4LJl?__cft__[0]=AZUBNObdn5zFxUMnNxZykL1EQy6NG2pPQKXdX9f-S4acW6SBP-A4xI8hSZiaxRMw_tL6xX4Zz_G69e_9Oz38LTpKEducPQoG3816-62HvedPYDlh_W8nEJP-Is_OOI9r3L3bW-d1D-PHoeGIBcCqK1i2&__tn__=%2CO%2CP-R\">statement<\/a>;<\/li>\n<li><strong>The government is preparing to launch a climate strategy<\/strong> involving all of the green projects set to be announced in COP27;<\/li>\n<li><strong>Cabinet approved a<\/strong> <strong><a href=\"https:\/\/www.railjournal.com\/financial\/kuwait-to-fund-studies-for-egypt-sudan-line\/\">USD 2.45 mn<\/a><\/strong> <strong>grant<\/strong> from the Kuwait Fund for Arab Economic Development to the International Cooperation Ministry to prepare feasibility studies for a rail connection between Egypt and Sudan;<\/li>\n<li><strong>Railway infrastructure: <\/strong>Cabinet approved a draft presidential decree on an agreement between the French Development Agency and the International Cooperation Ministry to implement upgrades to the <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/03\/frances-afd-considers-eur-190-mn-loan-for-tanta-damietta-railway-upgrade\/\">Tanta-Mansoura-Damietta<\/a> railway line;<\/li>\n<li><strong>The New Cairo <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b53954d2-8ae2-4eb9-b5c3-ef082e747867\">\u201cOne Ninety\u201d monorail stop<\/a><\/strong> will retain its name for 30 years under a EUR 5 mn agreement between the National Tunnels Authority and Landmark Developments.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cabinet-watch\/\">cabinet watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/consumer-finance\/\">consumer finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/france\/\">France<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kuwait\/\">Kuwait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/madbouly-government\/\">Madbouly Government<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smes\/\">SMEs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/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=\"546335\" 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=\"546335\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/total-eren-enara-capital-to-build-green-ammonia-facility-in-sczone\/\">\r\n                            Total Eren + Enara Capital to build green ammonia facility in SCZone                        <\/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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            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=Total+Eren+%2B+Enara+Capital+to+build+green+ammonia+facility+in+SCZone+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F05%2F12%2Ftotal-eren-enara-capital-to-build-green-ammonia-facility-in-sczone%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\/05\/12\/total-eren-enara-capital-to-build-green-ammonia-facility-in-sczone\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/151.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"546336\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/total-eren-enara-capital-to-build-green-ammonia-facility-in-sczone\/151-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/151.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"151.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/151.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/151.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-546335\" class=\"content-area-description single-story post-546335 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-enara-capital tag-energy tag-enterpriseam tag-green-ammonia tag-green-hydrogen tag-suez-canal-economic-zone tag-total-eren wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-03\" class=\"content-anchor\"><\/a> <strong>Another<\/strong><strong> green ammonia project: <\/strong>Egypt inked a memorandum of understanding with an alliance that includes Total Eren and Africa-focused SME investor Enara Capital to build a green ammonia plant in the Suez Canal Economic Zone (SCZone), according to a cabinet <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/400769482093478\">statement<\/a>. The facility will initially produce 300k tons of ammonia each year and this will increase to 1.5 mn at a later date, the statement said. Cabinet did not disclose the timeframe for the project or how much it will cost to build.<\/p>\n<p><strong>State institutions are on board:<\/strong> Total Eren and Enara signed the agreement with the Sovereign Fund of Egypt (SFE), the SCZone, the Egyptian Electricity Transmission Company (EETC), and the New and Renewable Energy Authority (NREA).<\/p>\n<p><strong>Green ammonia projects have been all the rage lately:<\/strong> In April, Egypt signed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/37c6713c-597a-4ba6-adb3-ab0228f7231c\">major<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/37c6713c-597a-4ba6-adb3-ab0228f7231c\">agreements<\/a> with international companies to produce green ammonia and hydrogen in the SCZone under government efforts to turn the area into a green energy hub. AlNowais\u2019 AMEA Power is partnering with the SFE on an ammonia plant that will produce up to 390k tons a year, while Norwegian firm Scatec will <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/385ee449-1e59-4897-88ea-75f283938d30\">build a 1 mn ton per year facility<\/a>.<\/p>\n<p><strong>You can\u2019t have green ammonia without green hydrogen:<\/strong> Green hydrogen is the crucial ingredient that puts the \u201cgreen\u201d in \u201cgreen ammonia,\u201d and large-scale investment in the energy source will be required if the spate of planned ammonia plants are going to be fed.<\/p>\n<p><strong>It\u2019s a good thing, then, that a number <\/strong><strong>of green hydro plants <\/strong><strong>are also in the works:<\/strong> Several international consortiums have agreed to work on green hydrogen facilities in the SCZone. Emirati renewable energy company Masdar and Hassan Allam Utilities will build a plant that will produce 480k tons of hydrogen a year while Scatec, Nassef Sawiris-backed ammonia producer Fertiglobe and Orascom Construction are <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3b3e6cad-637c-4ca8-afe6-94472fcc12d4\">working on a separate project<\/a> set to come online in 2024.<\/p>\n<p><strong>REFRESHER-<\/strong> Egypt is pushing a strategy to channel bns of USD of investment to create a local green energy industry amid a rising international interest in energy sources such as green hydrogen. Cairo\u2019s plans have attracted <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/aff3aab7-2de8-4461-ba56-0bcf3f15bf45\">major global players<\/a> seeking investments in the sector in the country.<\/p>\n<p><em>EDITOR'S NOTE- This story was updated on 12 May, 2022 to reflect that the MoU was signed between Enara Capital and Total Eren, not TotalEnergies. The spelling of Enara Capital was also corrected.<\/em><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enara-capital\/\">Enara Capital<\/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\/green-ammonia\/\">green ammonia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-economic-zone\/\">Suez Canal Economic Zone<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/total-eren\/\">Total Eren<\/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=\"546337\" 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=\"546337\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/logistics-startup-mylerz-plans-egypt-africa-expansion-after-raising-usd-9-6-mn-in-funding\/\">\r\n                            Logistics startup Mylerz plans Egypt + Africa expansion after raising USD 9.6 mn in funding                        <\/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\/05\/12\/logistics-startup-mylerz-plans-egypt-africa-expansion-after-raising-usd-9-6-mn-in-funding\/\" 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\/05\/12\/logistics-startup-mylerz-plans-egypt-africa-expansion-after-raising-usd-9-6-mn-in-funding\/')\">\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\/05\/12\/logistics-startup-mylerz-plans-egypt-africa-expansion-after-raising-usd-9-6-mn-in-funding\/\">\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=Logistics startup Mylerz plans Egypt + Africa expansion after raising USD 9.6 mn in funding&url=https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/logistics-startup-mylerz-plans-egypt-africa-expansion-after-raising-usd-9-6-mn-in-funding\/\">\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\/05\/12\/logistics-startup-mylerz-plans-egypt-africa-expansion-after-raising-usd-9-6-mn-in-funding\/&title=Logistics startup Mylerz plans Egypt + Africa expansion after raising USD 9.6 mn in funding\">\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=Logistics+startup+Mylerz+plans+Egypt+%2B+Africa+expansion+after+raising+USD+9.6+mn+in+funding+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F05%2F12%2Flogistics-startup-mylerz-plans-egypt-africa-expansion-after-raising-usd-9-6-mn-in-funding%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\/05\/12\/logistics-startup-mylerz-plans-egypt-africa-expansion-after-raising-usd-9-6-mn-in-funding\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/152.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"546338\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/logistics-startup-mylerz-plans-egypt-africa-expansion-after-raising-usd-9-6-mn-in-funding\/152-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/152.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"152.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/152.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/152.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-546337\" class=\"content-area-description single-story post-546337 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam tag-homzmart tag-logistics tag-mylerz tag-startup-watch tag-startups wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Cairo-based logistics startup <\/strong><strong><a href=\"https:\/\/www.mylerz.com\/\">Mylerz<\/a><\/strong> <strong>has raised USD 9.6 mn in <\/strong><strong>equity <\/strong><strong>funding<\/strong> from private equity outfit <a href=\"https:\/\/loraxcapitalpartners.com\/\">Lorax Capital Partners<\/a>, the startup announced in a <a href=\"https:\/\/ent.news\/2022\/5\/Mylerz-Press-Release-EN-Final.pdf\">press release (pdf<\/a><a href=\"https:\/\/ent.news\/2022\/5\/Mylerz-Press-Release-EN-Final.pdf\">)<\/a>. E-payments giant Fawry participated in the round and will also provide payments services for the company.<\/p>\n<p><strong>About Mylerz: <\/strong>Founded in 2019 by Samer Gharaibeh, the firm offers same-day, last-mile delivery for e-commerce merchants. Mylerz currently operates 21 fulfillment centers across the country and plans to open its largest fulfillment hub yet in West Cairo by 4Q 2022. The startup delivered 2 mn packages within two years of its launch.<\/p>\n<p><strong>The funding will go towards helping the firm expand across Egypt<\/strong> and enter new North African markets, as well as to develop its platform, Gharaibeh, also the company\u2019s CEO, told Enterprise. Gharaibeh remains the largest shareholder in his company following the funding round.<\/p>\n<p><strong>Mylerz plans to expand to Algeria, Tunisia and Morocco<\/strong><strong> \u201c<\/strong><strong>in three months\u2019 time<\/strong><strong>,\u201d<\/strong> Gharabeih said. The company is also eyeing Libya, Sudan, and East Africa\u2019s growing e-commerce markets for potential expansion next year, he added. Fawry will provide payment services to Mylerz in all of its new markets.<\/p>\n<p><strong>This isn\u2019t Fawry\u2019s first partnership with Gharaibeh:<\/strong> The e-payments giant in February <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e22b5ad9-79f4-4799-b5e9-c594498f0a83\">partnered<\/a> with Gharaibeh, tech solutions firm <a href=\"http:\/\/www.softectechnologies.com\/\">Softec<\/a>, and Confida Ventures Managing Partner Ammar Zawaideh to set up courier delivery platform <a href=\"https:\/\/www.roaderz.com\/\">Roaderz<\/a>. The crowdsourcing platform connects couriers and small delivery firms with e-commerce merchants, while allowing sellers to request couriers on demand or schedule their services in advance.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/homzmart\/\">Homzmart<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mylerz\/\">Mylerz<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"546339\" 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=\"546339\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/german-fiberboard-maker-enters-egypt-through-jv-with-egypt-kuwait-holding\/\">\r\n                            German fiberboard maker enters Egypt through JV with Egypt Kuwait Holding                        <\/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\/05\/12\/german-fiberboard-maker-enters-egypt-through-jv-with-egypt-kuwait-holding\/\" 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\/05\/12\/german-fiberboard-maker-enters-egypt-through-jv-with-egypt-kuwait-holding\/')\">\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\/05\/12\/german-fiberboard-maker-enters-egypt-through-jv-with-egypt-kuwait-holding\/\">\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=German fiberboard maker enters Egypt through JV with Egypt Kuwait Holding&url=https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/german-fiberboard-maker-enters-egypt-through-jv-with-egypt-kuwait-holding\/\">\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\/05\/12\/german-fiberboard-maker-enters-egypt-through-jv-with-egypt-kuwait-holding\/&title=German fiberboard maker enters Egypt through JV with Egypt Kuwait Holding\">\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=German+fiberboard+maker+enters+Egypt+through+JV+with+Egypt+Kuwait+Holding+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F05%2F12%2Fgerman-fiberboard-maker-enters-egypt-through-jv-with-egypt-kuwait-holding%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\/05\/12\/german-fiberboard-maker-enters-egypt-through-jv-with-egypt-kuwait-holding\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/154.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"546340\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/german-fiberboard-maker-enters-egypt-through-jv-with-egypt-kuwait-holding\/154-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/154.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"154.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/154.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/154.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-546339\" class=\"content-area-description single-story post-546339 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-egypt-kuwait-holding tag-enterpriseam tag-homann-holzwerkstoffe tag-ma-watch tag-manufacturing wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-06\" class=\"content-anchor\"><\/a> <strong>German fiberboard producer Homann Holzwerkstoffe is acquiring a 27% stake in <\/strong><strong>Egypt Kuwait Holding (EKH)\u2019s subsidiary Global MDF Industries<\/strong>, EKH announced in a <a href=\"https:\/\/ent.news\/2022\/5\/Egypt-Kuwait-Holding-Homann-GmbH-joint-venture.pdf\">statement (pdf)<\/a> yesterday. The transaction is part of an agreement launching a new JV between Homann Holzwerkstoffe and EKH. A company representative we reached out to yesterday declined to disclose the value of the transaction.<\/p>\n<p><strong>How it will work: <\/strong>EKH will sell a 16.2% stake in Global MDF to the German firm when the agreement closes. The remaining 10.8% will change hands when production begins at Global MDF subsidiary Nile Wood\u2019s factory in Sadat City (slated for 4Q 2022). The factory will produce up to 200k cubic meters of MDF, which will be sold to the local and overseas markets, EKH CEO Sherif El Zayat said in the statement.<\/p>\n<p><strong>Tree to table: <\/strong>The transaction gives Homann Holzwerkstoffe a stake in Global MDF\u2019s two other fully-owned subsidiaries, which will supply the Nile Wood factory with raw materials. \u201cThe direct access to raw materials will be a key growth driver,\u201d said Homann Holzwerkstaffe Managing Partner Fritz Homann.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-kuwait-holding\/\">Egypt Kuwait Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/homann-holzwerkstoffe\/\">Homann Holzwerkstoffe<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"546341\" 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=\"546341\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/remittances-from-egyptians-abroad-to-grow-8-in-2022-says-world-bank\/\">\r\n                            Remittances from Egyptians abroad to grow 8% in 2022, says World Bank                        <\/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\/05\/12\/remittances-from-egyptians-abroad-to-grow-8-in-2022-says-world-bank\/\" 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\/05\/12\/remittances-from-egyptians-abroad-to-grow-8-in-2022-says-world-bank\/')\">\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\/05\/12\/remittances-from-egyptians-abroad-to-grow-8-in-2022-says-world-bank\/\">\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=Remittances from Egyptians abroad to grow 8% in 2022, says World Bank&url=https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/remittances-from-egyptians-abroad-to-grow-8-in-2022-says-world-bank\/\">\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\/05\/12\/remittances-from-egyptians-abroad-to-grow-8-in-2022-says-world-bank\/&title=Remittances from Egyptians abroad to grow 8% in 2022, says World Bank\">\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=Remittances+from+Egyptians+abroad+to+grow+8%25+in+2022%2C+says+World+Bank+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F05%2F12%2Fremittances-from-egyptians-abroad-to-grow-8-in-2022-says-world-bank%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\/05\/12\/remittances-from-egyptians-abroad-to-grow-8-in-2022-says-world-bank\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/156.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"546342\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/remittances-from-egyptians-abroad-to-grow-8-in-2022-says-world-bank\/156-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/156.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"156.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/156.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/156.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-546341\" class=\"content-area-description single-story post-546341 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam tag-world-bank wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>It\u2019s not all dim on the macro front:<\/strong> Remittances from Egyptian expats are expected to grow at a faster pace in 2022, rising by 8% compared to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9b6c62a0-510a-4b2c-81de-5717d58f53d5\">6.4% last year<\/a>, according to the World Bank\u2019s <a href=\"https:\/\/ent.news\/2022\/5\/Migration-and-Development-Brief-36_May-2022.pdf\">latest forecast (pdf)<\/a>. The lender says that flows will pick up due to an \u201caltruistic response\u201d by migrants to difficulties being faced at home and economic growth abroad, which although is expected to slow, should still be supportive of remittances.<\/p>\n<p><strong>Bucking the regional trend:<\/strong> The bank forecasts remittance flow growth into developing countries in the MENA region to slow to 6% from 7.6% last year amid an economic crunch from the war in Ukraine.<\/p>\n<p><strong>Egypt was one of the biggest recipients of remittances last year:<\/strong> Some USD 31.5 bn was sent to Egypt last year, making us the fifth-largest recipient in the world. The country \u201cbenefited from higher oil prices, remittance returns from expatriates in the Gulf, as well as healthy economic activity in Europe and the United States,\u201d the World Bank said.<\/p>\n<p><strong>Remittances have become an increasingly important source of foreign currency for Egypt,<\/strong> particularly following the hit to tourist revenues caused by covid-19 and the subsequent blow to Russian and Ukrainian tourism. The value of remittances has picked up steadily since the pandemic, with inflows during the previous fiscal year reaching a record high last year.<\/p>\n<p><strong>All in all, remittances to low- and middle-income nations are set to grow by 4.2% to USD 630 bn this year<\/strong>, the World Bank said, following a growth of 8.6% last year when remittances hit USD 605 mn. Ukraine, the largest remittance recipient in Europe and Central Asia, will see inflows soar more than 20%.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/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            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"546343\" 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=\"546343\">\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\">Commodities<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/cimbria-is-building-a-silo-complex-in-port-said-for-imported-wheat\/\">\r\n                            Cimbria is building a silo complex in Port Said for imported wheat                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/cimbria-is-building-a-silo-complex-in-port-said-for-imported-wheat\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/cimbria-is-building-a-silo-complex-in-port-said-for-imported-wheat\/')\">\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\/05\/12\/cimbria-is-building-a-silo-complex-in-port-said-for-imported-wheat\/\">\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=Cimbria is building a silo complex in Port Said for imported wheat&url=https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/cimbria-is-building-a-silo-complex-in-port-said-for-imported-wheat\/\">\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\/05\/12\/cimbria-is-building-a-silo-complex-in-port-said-for-imported-wheat\/&title=Cimbria is building a silo complex in Port Said for imported wheat\">\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=Cimbria+is+building+a+silo+complex+in+Port+Said+for+imported+wheat+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F05%2F12%2Fcimbria-is-building-a-silo-complex-in-port-said-for-imported-wheat%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\/05\/12\/cimbria-is-building-a-silo-complex-in-port-said-for-imported-wheat\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/157.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"546344\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/cimbria-is-building-a-silo-complex-in-port-said-for-imported-wheat\/157-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/157.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"157.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/157.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/157.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-546343\" class=\"content-area-description single-story post-546343 post type-post status-publish format-standard has-post-thumbnail hentry category-commodities tag-cimbria tag-commodities tag-enterpriseam tag-general-company-for-silos-and-storage tag-wheat wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Denmark\u2019s Cimbria is building a wheat silo complex in Port Said for the General <\/strong><strong>Company for Silos and Storage (GCSS)<\/strong>, the company announced in a <a href=\"https:\/\/www.cimbria.com\/en\/about\/case-histories\/Cimbria-builds-its-first-port-silo-complex-in-Egypt.html\">statement<\/a> in March. The facility will have capacity to hold 100k tons of wheat \u2014 enough to cover more than 15% of Egypt\u2019s current estimated storage shortfall. Construction began in February and is expected to be complete within two years. The complex will be co-funded by the OPEC Fund and the government.<\/p>\n<p><strong>Why is this needed? <\/strong>Our current storage capacity \u2014 with a total of 44 silos and other storage units, totaling a capacity of 5.4 mn tonnes \u2014 still leaves a gap of around 600k tonnes of the 6 mn tonnes the government <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c9382282-35a8-4bc8-8610-77361fd68e71\">plans to procure<\/a> domestically this season. The <a href=\"https:\/\/enterprise.press\/hardhats\/egypt-ramped-domestic-wheat-purchase-targets-season-feasible-will-storing\/\">system we currently have in place<\/a> for storing grain involves toning down wheat imports around the harvest season to make space for increasing domestic supply. The government then restarts the import cycle once it dips into the local wheat reserves. Having a complex for imported wheat could allow us to import wheat year-round.<\/p>\n<p><strong>Cimbria is big in Egypt: <\/strong>The company says it has provided Egypt with 95% of its <a href=\"https:\/\/enterprise.press\/stories\/2017\/06\/01\/usd-100-mn-silos-complex-inaugurated-in-luxor\/\">silo<\/a><a href=\"https:\/\/enterprise.press\/stories\/2017\/06\/01\/usd-100-mn-silos-complex-inaugurated-in-luxor\/\">complexes<\/a>. It <a href=\"https:\/\/www.cimbria.com\/en\/about\/case-histories\/egypt-storage-ch.html\">received its biggest order in its history<\/a> from Egypt last year when it was contracted to deliver 23 silos with a total capacity of almost 1.4 mn tons.<\/p>\n<p><strong>OTHER COMMODITIES NEWS- Egypt has turned away two Russian vessels <\/strong><strong>allegedly carrying stolen Ukrainian wheat<\/strong>, Ruslan Nechai, Ukraine\u2019s charg\u00e9 d\u2019affaires in Egypt, told the <a href=\"https:\/\/www.wsj.com\/livecoverage\/russia-ukraine-latest-news-2022-05-10\/card\/russia-flagged-ships-transport-stolen-grain-to-syria-ukraine-says-XldruHiMyqmJMUYskuRU\">Wall Street Journal<\/a>. The Ukrainian Ministry of Defense has accused Russia of hijacking cargoes of Ukrainian grain and shipping it to the Middle East.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cimbria\/\">Cimbria<\/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\/general-company-for-silos-and-storage\/\">General Company for Silos and Storage<\/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=\"546345\" 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=\"546345\">\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\">Kudos<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/karm-solar-efg-hermes-gb-auto-are-among-africas-fastest-growing-companies-according-to-the-ft\/\">\r\n                            Karm Solar, EFG Hermes, GB Auto are among Africa\u2019s fastest-growing companies, according to the FT                        <\/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\/05\/12\/karm-solar-efg-hermes-gb-auto-are-among-africas-fastest-growing-companies-according-to-the-ft\/\" 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\/05\/12\/karm-solar-efg-hermes-gb-auto-are-among-africas-fastest-growing-companies-according-to-the-ft\/')\">\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\/05\/12\/karm-solar-efg-hermes-gb-auto-are-among-africas-fastest-growing-companies-according-to-the-ft\/\">\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=Karm Solar, EFG Hermes, GB Auto are among Africa\u2019s fastest-growing companies, according to the FT&url=https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/karm-solar-efg-hermes-gb-auto-are-among-africas-fastest-growing-companies-according-to-the-ft\/\">\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\/05\/12\/karm-solar-efg-hermes-gb-auto-are-among-africas-fastest-growing-companies-according-to-the-ft\/&title=Karm Solar, EFG Hermes, GB Auto are among Africa\u2019s fastest-growing companies, according to the FT\">\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=Karm+Solar%2C+EFG+Hermes%2C+GB+Auto+are+among+Africa%E2%80%99s+fastest-growing+companies%2C+according+to+the+FT+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F05%2F12%2Fkarm-solar-efg-hermes-gb-auto-are-among-africas-fastest-growing-companies-according-to-the-ft%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\/05\/12\/karm-solar-efg-hermes-gb-auto-are-among-africas-fastest-growing-companies-according-to-the-ft\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-546345\" class=\"content-area-description single-story post-546345 post type-post status-publish format-standard hentry category-kudos tag-alexandria-pharma tag-arab-contractors tag-efg-hermes tag-enterpriseam tag-gb-auto tag-karm-solar tag-kudos tag-malmo-arab-film-festival tag-mm-group wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>KUDOS-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>Karm Solar has been named as one of Africa\u2019s 20 fastest-growing companies<\/strong> in the Financial Times\u2019 <a href=\"https:\/\/www.ft.com\/africas-fastest-growing-companies\">inaugural Africa edition<\/a> of its \u2018fastest-growing\u2019 lists. The solar energy player placed #19 in the ranking after more than tripling its revenues between 2017 and 2020, making it the second-fastest growing energy company on the continent. Also representing Egypt on the list are <strong>Alexandria Pharma<\/strong> (#40), <strong>Arab Contractors<\/strong> (#54), <strong>EFG Hermes<\/strong> (#55), <strong>MM Group<\/strong> (#71) and <strong>GB Auto<\/strong> (#72).<\/p>\n<p><strong>Our friends at EFG Hermes released <\/strong><strong><a href=\"https:\/\/ent.news\/2022\/5\/EFG-Hermes-Holding-x-Financial-Times-Statista-Ranking-English-1.pdf\">a statement (pdf)<\/a><\/strong><strong> following the publication of the <\/strong><strong>list:<\/strong> CEO Karim Awad said the bank\u2019s inclusion demonstrated its \u201cagility\u201d and \u201csuccess in achieving business growth.\u201d The survey period covers the years during which EFG Hermes completed its transformation from an Egyptian investment bank into a leading frontier emerging markets financial services powerhouse with operations around the globe and a thriving Egyptian NBFS arm.<\/p>\n<p><strong>Egypt isn\u2019t well represented on the list<\/strong>, with only six firms making the grade. By comparison, 24 South African firms and 20 Nigerian companies are featured.<\/p>\n<p><strong>Take the list with a cup or two of salt: Plenty of Egyptian companies grew much faster <\/strong><strong>than, say, #75, Morocco\u2019s Hightech Payment<\/strong>, which posted a revenue CAGR of just 8% in the survey period. Take Fawry: The Egyptian payments giant posted a revenue CAGR in the same period of nearly 42%, which would have placed it in the top 25 (presuming there were no other changes to the list). Hell, little old Enterprise would (on the basis of our consolidated financials) handily make the list as it stands.<\/p>\n<p><strong>So why are so few Egyptian companies represented here? Because more South African and <\/strong><strong>Nigerian companies applied. <\/strong>The FT\u2019s partner reached out by \u201cpost and email\u201d to companies to ask them to participate by registering on a website. Those companies make up the majority of the list. The FT has chosen to include only 27 \u201chigh profile\u201d publicly traded companies that didn\u2019t apply, but that met its screening criteria.<\/p>\n<p><strong>MEANWHILE- More Egyptian success in Malmo: <\/strong><a href=\"https:\/\/www.ciff.org.eg\/movies\/from-cairo\/\">From Cairo<\/a> won the documentary film <a href=\"https:\/\/www.facebook.com\/maffswe\/posts\/5490908470929042?__cft__[0]=AZVpmC5T1A3TIQscjEEcH0aSZfRfB4ZGf4eRrZDpGylXcCKrGOz6gt8HyHHG_3jh180BV_0GyiLOj7wGjtEvuGkYedwZTlACrXFdL1TztFMVMwSSUIQqyY9DsHf-mv8q-6S0efMOFli7VvtiOrKl83xbUZoxbqAVrIUCAF8pVtN06gVlNTVIDq0M0gaFZTPGRvk&__tn__=%2CO%2CP-R\">jury prize<\/a><a href=\"https:\/\/www.facebook.com\/maffswe\/posts\/5490908470929042?__cft__[0]=AZVpmC5T1A3TIQscjEEcH0aSZfRfB4ZGf4eRrZDpGylXcCKrGOz6gt8HyHHG_3jh180BV_0GyiLOj7wGjtEvuGkYedwZTlACrXFdL1TztFMVMwSSUIQqyY9DsHf-mv8q-6S0efMOFli7VvtiOrKl83xbUZoxbqAVrIUCAF8pVtN06gVlNTVIDq0M0gaFZTPGRvk&__tn__=%2CO%2CP-R\">award<\/a> at the Swedish Malmo Arab Film Festival. Actor Mohamed Mamdouh won best actor at the festival <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f4ed5811-e41b-413b-97c1-915639d2abcc\">earlier this week<\/a> for his role in the film Abu Saddam.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alexandria-pharma\/\">Alexandria Pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/arab-contractors\/\">Arab Contractors<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gb-auto\/\">GB Auto<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/karm-solar\/\">Karm Solar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kudos\/\">KUDOS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/malmo-arab-film-festival\/\">Malmo Arab Film Festival<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mm-group\/\">MM Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"546346\" 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=\"546346\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/546346\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-546346\" class=\"content-area-description single-story post-546346 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.sodic.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/2\/V-editions-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\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=\"546347\" 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=\"546347\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/plenty-of-policy-talk-on-the-airwave-last-night-killing-of-veteran-al-jazeera-journalist-in-palestine-gets-heavy-coverage\/\">\r\n                            Plenty of policy talk on the airwave last night + killing of veteran Al Jazeera journalist in Palestine gets heavy coverage                        <\/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\/05\/12\/plenty-of-policy-talk-on-the-airwave-last-night-killing-of-veteran-al-jazeera-journalist-in-palestine-gets-heavy-coverage\/\" 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/plenty-of-policy-talk-on-the-airwave-last-night-killing-of-veteran-al-jazeera-journalist-in-palestine-gets-heavy-coverage\/&title=Plenty of policy talk on the airwave last night + killing of veteran Al Jazeera journalist in Palestine gets heavy coverage\">\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=Plenty+of+policy+talk+on+the+airwave+last+night+%2B+killing+of+veteran+Al+Jazeera+journalist+in+Palestine+gets+heavy+coverage+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F05%2F12%2Fplenty-of-policy-talk-on-the-airwave-last-night-killing-of-veteran-al-jazeera-journalist-in-palestine-gets-heavy-coverage%2F\">\n                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tag-shireen-abu-akleh tag-sovereign-fund-of-egypt tag-ziad-bahaa-el-din wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Leading airwaves on the airwaves last night: <\/strong>The shooting of Al Jazeera correspondent Shireen Abu Akleh, apparently by Israeli forces, as they raided a refugee camp in the West Bank city of Jenin dominated airwaves, with wide condemnation and outrage getting coverage from most talk shows at home, including Yahduth Fi Masr (<a href=\"https:\/\/www.youtube.com\/watch?v=3Hdl5CBGrhQ\">watch, runtime: 4:37<\/a>), Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=wmNh2jDHNso\">watch, runtime: 2:11<\/a>), Ala\u2019 Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=nJSdzbXwEFw\">watch, runtime: 1:13<\/a>), Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=bPg9LPWiIyA\">watch, runtime: 3:09<\/a>) and others.<\/p>\n<p><strong>The latest deadly attack in Sinai which killed five troops earlier yesterday<\/strong> also led airwaves at home, with Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=Pp4imNYgZU8\">watch, runtime: 0:30<\/a>) and Ala Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=sKbG4rtATe8\">watch, runtime: 3:25<\/a>) covering the fatal attack.<\/p>\n<p><strong>Otherwise, it was a policy-heavy evening:<\/strong><\/p>\n<p><strong>ACT SMART- <\/strong>Economist and former deputy prime minister Ziad Bahaa El Din is calling on the government to hold an economic dialogue, alongside the planned national dialogue, as he stressed to Ala Mas\u2019ouleety Ahmed Moussa (<a href=\"https:\/\/www.youtube.com\/watch?v=wXoL3YonyNQ\">watch, runtime: 50:38<\/a>) the importance of the government holding a conversation with the business community to remove constraints.<\/p>\n<p><strong>Qalaa Holdings Chairman Ahmed Heikal shared his policy prescriptions for getting us <\/strong><strong>out of the economic crisis on Yahduth Fi Misr<\/strong>. \u201cThere is no simple fix for this crisis,\u201d he told show host Sherif Amer last night (<a href=\"https:\/\/www.youtube.com\/watch?v=rsDAndDSXiI&t=194s\">watch, runtime: 4:23<\/a>). We have a problem, being a big importer of oil with 100 mn oil barrels annually and a net food importer, with our basket including wheat and production inputs.<\/p>\n<p><strong>What\u2019s the solution? <\/strong>Slashing imports, boosting our exports, and finding a local alternative to imported production inputs is key to help Egypt during the crisis, Heikal noted (<a href=\"https:\/\/www.youtube.com\/watch?v=uvI8dh42bgk\">watch, runtime: 3:45<\/a>). Egypt should use untapped assets, which include tens of shuttered factories, production lines and others, he said. Higher revenues for the Suez Canal, a reviving tourism and higher remittances from Egyptians abroad would also ease the pressure on the FX, he said.<\/p>\n<p><strong>Everyone is going to feel the pain: <\/strong>No-one will escape the impact of the current wave of global inflation, Heikal said, predicting that the crisis will create a new global map of economic relations in the coming years.<\/p>\n<p><strong>Let\u2019s delay any austerity policy for four months at the very least<\/strong>, Bahaa El Din said \u201cuntil conditions are straightened out\u201d and efforts in investments, exports and production bear fruit. \u201cThis is not the period where we worry about the debt-to-GDP ratio and lowering it to 75% like [what was] addressed to the parliament. There are other priorities, mainly ensuring that there are no shortages of basic needs,\u201d he said. Bahaa El Din has been a regular guest on talk shows this week, speaking on the global economic crisis and what Egypt could do to cushion the blow.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ahmed-heikal\/\">Ahmed Heikal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/al-jazeera\/\">Al Jazeera<\/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\/mohammed-bin-salman\/\">Mohammed bin Salman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/shireen-abu-akleh\/\">Shireen Abu Akleh<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ziad-bahaa-el-din\/\">Ziad Bahaa El Din<\/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=\"546348\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button 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   <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/second-sinai-attack-in-less-than-a-week-leaves-12-dead\/\">\r\n                            Second Sinai attack in less than a week leaves 12 dead                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/second-sinai-attack-in-less-than-a-week-leaves-12-dead\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/second-sinai-attack-in-less-than-a-week-leaves-12-dead\/')\">\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\/05\/12\/second-sinai-attack-in-less-than-a-week-leaves-12-dead\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li 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class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Second+Sinai+attack+in+less+than+a+week+leaves+12+dead+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F05%2F12%2Fsecond-sinai-attack-in-less-than-a-week-leaves-12-dead%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/second-sinai-attack-in-less-than-a-week-leaves-12-dead\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-546349\" class=\"content-area-description single-story post-546349 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-al-ahly tag-enterpriseam tag-media tag-sports tag-turkey wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Leading the conversation on Egypt in the international press this morning:<\/strong> Five soldiers were killed and two injured after militants attacked a military checkpoint in Sinai, less than a week after a deadly attack east of the Suez Canal <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/935dd4f2-9a1b-4d2f-b536-4d038a36c7cb\">took the lives of 11 troops<\/a>. Seven militants were killed in the encounter, the Armed Forces said in <a href=\"https:\/\/www.facebook.com\/EgyArmySpox\/posts\/2637456229718676\">a statement<\/a>. <a href=\"https:\/\/www.france24.com\/en\/live-news\/20220511-jihadists-kill-five-soldiers-in-egypt-s-sinai-army\">AFP,<\/a> <a href=\"https:\/\/www.reuters.com\/world\/africa\/five-egyptian-troops-killed-attack-north-sinai-peninsula-sources-2022-05-11\/\">Reuters<\/a>, the <a href=\"https:\/\/apnews.com\/article\/islamic-state-group-middle-east-africa-egypt-gaza-strip-7f799f69f100794d5d32f982ba901f8b\">Associated Press<\/a> and <a href=\"https:\/\/www.thenationalnews.com\/mena\/egypt\/2022\/05\/11\/egypts-military-says-five-soldiers-killed-in-clashes-with-militants-in-sinai\/\">the National<\/a> all covered the news.<\/p>\n<p><strong>Also making headlines: <\/strong><\/p>\n<ul>\n<li><strong>Ikhwani mouthpieces <\/strong>in Turkey are facing <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fd9bd86b-542e-46d6-a545-108fa6ec37d9\">pressure to zip it<\/a> as Turkey tries to mend relations with Egypt. (<a href=\"https:\/\/www.ft.com\/content\/fe4e8dbf-9948-4f7a-80fe-80a42aaf2b19\">Financial Times<\/a>)<\/li>\n<li><strong>Egypt has threatened to drop its role as a mediator with Hamas<\/strong> if Israel assassinates its leader, Yahya Sinwar, warning that such a move will cause a new war to erupt. (<a href=\"https:\/\/www.haaretz.com\/israel-news\/.premium-moscow-can-undermine-u-s-egypt-mediating-role-in-israeli-palestinian-conflict-1.10791650\">Haaretz<\/a>)<\/li>\n<li><strong>Egypt\u2019s national dialogue will involve the \u201clargest possible number\u201d of <\/strong><strong>representatives <\/strong>in a bid to boost inclusivity and \u201cdefine the priorities of the new republic,\u201d the National Training Academy and the dialogue\u2019s organizers have said. (<a href=\"https:\/\/www.thenationalnews.com\/mena\/egypt\/2022\/05\/11\/egypts-national-dialogue-will-be-inclusive-and-free-organisers-promise\/\">The National<\/a>)<\/li>\n<li><strong>Al Ahly and the Egyptian Football Association are protesting the CAF\u2019s <\/strong><strong>decision to host the CAF Champions League final in Morocco<\/strong>, where Moroccan team Wydad could play if it wins its game on Friday, arguing that the final should be hosted in a neutral venue. (<a href=\"https:\/\/www.arabnews.com\/node\/2079711\/sport\">Arab News<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/al-ahly\/\">Al Ahly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/media\/\">media<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sports\/\">sports<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"546350\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"546351\" 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=\"546351\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/dana-oil-output-falls-uh-which-gourmet-was-that-again\/\">\r\n                            Dana oil output falls + Uh, which Gourmet was that, again?                        <\/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\/05\/12\/dana-oil-output-falls-uh-which-gourmet-was-that-again\/\" 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\/05\/12\/dana-oil-output-falls-uh-which-gourmet-was-that-again\/')\">\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\/05\/12\/dana-oil-output-falls-uh-which-gourmet-was-that-again\/\">\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=Dana oil output falls + Uh, which Gourmet was that, again?&url=https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/dana-oil-output-falls-uh-which-gourmet-was-that-again\/\">\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\/05\/12\/dana-oil-output-falls-uh-which-gourmet-was-that-again\/&title=Dana oil output falls + Uh, which Gourmet was that, again?\">\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=Dana+oil+output+falls+%2B+Uh%2C+which+Gourmet+was+that%2C+again%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F05%2F12%2Fdana-oil-output-falls-uh-which-gourmet-was-that-again%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\/05\/12\/dana-oil-output-falls-uh-which-gourmet-was-that-again\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-546351\" class=\"content-area-description single-story post-546351 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-brazil tag-carrefour-egypt tag-cement tag-cit tag-dana-gas tag-el-sewedy-industries tag-energy tag-enterpriseam tag-etisalat tag-fertilizers tag-lafarge-egypt tag-oil-and-gas tag-renewables tag-retail tag-trade wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Did we just say no to Brazil\u2019s request for fertilizer?<\/strong> A meeting between Egyptian and Brazilian officials resulted in an agreement covering \u201cagricultural research, livestock, capacity-building and trade exchange,\u201d the Agriculture Ministry said in <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0VS1ubdwMgnXRVJnveLdoRkshYiUzg8FbVPQsoiABVfHXJQ1zkPGd56dEGdeNPX6Nl\">a statement<\/a>. The chief aim of the Brazilian delegation was to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d073e951-015b-4fd5-87ed-38c414334e9a\">seal an agreement for more Egyptian fertilizer<\/a> but the statement makes no mention of the discussions.<\/p>\n<p>Our friends at <strong>Etisalat Misr<\/strong> will <strong>provide the tech infrastructure<\/strong> for<strong> El Sewedy Industries\u2019 U <\/strong><strong>Venues<\/strong> mixed-use development in New Cairo. (<a href=\"https:\/\/bit.ly\/3lkzzW5\">Hapi Journal<\/a>)<\/p>\n<p><strong>Wait, which Gourmet are you talking about? <\/strong>Retailer Carrefour has inaugurated its first Carrefour Gourmet store in Egypt in Downtown Katameya. The hyperchain\u2019s name is eerily similar to that of Gourmet Egypt, the local chain that created and now leads the high-end grocery market. (<a href=\"https:\/\/ent.news\/2022\/5\/110522_Carrefour_Gourmet_Press-Release_ENG.pdf\">Statement<\/a><a href=\"https:\/\/ent.news\/2022\/5\/110522_Carrefour_Gourmet_Press-Release_ENG.pdf\">, pdf<\/a>)<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>Dana Gas\u2019 oil production<\/strong> in Egypt<strong> fell 7%<\/strong> to 27k barrels <strong>in 1Q 2022<\/strong> due to natural field depletion. Dana collected AED 62 mn (USD 17 mn) in receivables from Egypt during the quarter, which the company called a \u201csignificant improvement.\u201d (<a href=\"https:\/\/ent.news\/2022\/5\/Dana-Gas-20220510-Q1-2022-Press-release-EN.pdf\">Earnings release, pdf<\/a>)<\/li>\n<li><strong>Lafarge Egypt<\/strong> has signed a long-term contract worth USD 93 mn with AP Moller Capital\u2019s <strong>Lumika Renewables Egypt<\/strong> to <strong>supply solar energy to its factory<\/strong>. The agreement will come into effect in 1Q 2024. (<a href=\"https:\/\/ent.news\/2022\/5\/Lafarge-Solar.pdf\">Statement, pdf<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/brazil\/\">Brazil<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/carrefour-egypt\/\">Carrefour Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cement\/\">cement<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cit\/\">CIT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dana-gas\/\">Dana Gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/el-sewedy-industries\/\">El Sewedy Industries<\/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\/etisalat\/\">Etisalat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fertilizers\/\">fertilizers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lafarge-egypt\/\">LaFarge Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/retail\/\">retail<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"546352\" 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=\"546352\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/aramco-is-the-worlds-most-valuable-company\/\">\r\n                            Aramco is the world\u2019s most valuable company                        <\/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\/05\/12\/aramco-is-the-worlds-most-valuable-company\/\" 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 oil giant traded at its highest level on record yesterday with a market cap of USD 2.43 tn, surpassing that of Apple for the first time since 2020. Apple ended the day with a market cap of USD 2.37tn after its shares fell 5.2% amid a heavy sell-off in US tech stocks, while Aramco\u2019s shares closed nearly 1% down by the end of trading.<\/p><p><strong>Also worth noting this morning:<\/strong><\/p><ul>\n<li><strong>The risk of social unrest in Africa is rising as countries in the world struggle with <\/strong><strong>soaring food prices: <\/strong>Two reports out yesterday \u2014 courtesy of <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-05-11\/africa-faces-unrest-as-thumping-food-prices-hit-it-hardest?sref=mmeFTDW1\">Oxford Economics Africa<\/a> and risk consultancy <a href=\"https:\/\/www.maplecroft.com\/insights\/analysis\/cost-of-living-crisis-inflames-civil-unrest-risks-in-emerging-markets\/\">Verisk Maplecroft<\/a> \u2014 flagged a risk of rising social unrest in the coming months as record food prices cause economic hardship.<\/li>\n<li><strong>Philip Morris will acquire rival Swedish Match for USD 16 bn<\/strong>, as part of Marlboro-maker\u2019s push into smoke-free tobacco alternatives. Swedish Match is a market leader in Scandinavian tobacco product snus and oral nicotine pouches. (<a href=\"https:\/\/www.ft.com\/content\/ef5aa545-f017-4dc1-8955-76b6e1a5ee8b\">Financial Times<\/a>)<\/li>\n<li><strong>Supply snags are hitting the diamond market hard<\/strong>, leading to costlier bling as the industry struggles to source stones after the US imposed an import ban on diamonds from Russia\u2019s Alrosa, which produces a third of the world\u2019s gems. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-05-11\/diamond-prices-surged-since-russian-sanctions-de-beers-can-t-help\">Bloomberg<\/a>)<\/li>\n<\/ul><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>10,856<\/p>\n<\/td>\n<td>\n<p>+0.4% (YTD: -9.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 18.33<\/p>\n<\/td>\n<td>\n<p>Sell 18.42<\/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>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 18.35<\/p>\n<\/td>\n<td>\n<p>Sell 18.42<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>9.25% deposit<\/p>\n<\/td>\n<td>\n<p>10.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>13,379<\/p>\n<\/td>\n<td>\n<p>-1.0% (YTD: +18.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>9,795<\/p>\n<\/td>\n<td>\n<p>-1.2% (YTD: +15.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,528<\/p>\n<\/td>\n<td>\n<p>-1.9% (YTD: +10.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>3,935<\/p>\n<\/td>\n<td>\n<p>-1.7% (YTD: -17.4%)<\/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>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,348<\/p>\n<\/td>\n<td>\n<p>+1.4% (YTD: -0.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td>\n<p>3,648<\/p>\n<\/td>\n<td>\n<p>+2.6% (YTD: -15.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 107.39<\/p>\n<\/td>\n<td>\n<p>+4.8%<\/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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 7.64<\/p>\n<\/td>\n<td>\n<p>+3.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,853.70<\/p>\n<\/td>\n<td>\n<p>+0.7%<\/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 28,813<\/p>\n<\/td>\n<td>\n<p>-5.5% (YTD: -38.5%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 rose 0.4% at yesterday\u2019s close<\/strong> on turnover of EGP 855 mn (2% below the 90-day average). Foreign investors were net sellers. The index is down 9.2% YTD.<\/p><p><strong>In the green: <\/strong>MM Group (+7.0%), Abu Qir Fertilizers (+6.3%) and Mopco (+4.8%).<\/p><p><strong>In the red: <\/strong>TMG Holding (-2.5%), Eastern Company (-1.8%) and Madinet Nasr Housing (-1.7%).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/africa\/\">Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/apple\/\">Apple<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/equities\/\">equities<\/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\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"546353\" 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=\"546353\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/white-house-natsec-chief-in-egypt-to-talk-food-fuel-support\/\">\r\n                            White House natsec chief in Egypt to talk food, fuel support                        <\/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\/05\/12\/white-house-natsec-chief-in-egypt-to-talk-food-fuel-support\/\" 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 pair discussed the global effects of Russia\u2019s war in Ukraine and \u201cWashington\u2019s support for Egypt\u2019s security, food, and fuel needs,\u201d according to a <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2022\/05\/11\/statement-by-nsc-spokesperson-adrienne-watson-on-nsa-jake-sullivans-visit-to-egypt\/\">White House statement<\/a>. The two also discussed regional issues including the latest Palestinian-Israeli developments and the Grand Ethiopian Renaissance Dam, as well as cooperation to fight terrorism, Ittihadiya said. They also spoke about \u201cthe importance of tangible and lasting human rights progress in Egypt,\u201d according to the US statement.<\/p>\n<p><strong>Suez Canal Authority (SCA) head Osama Rabie signed an agreement to boost <\/strong><strong>cooperation with <\/strong><strong><a href=\"https:\/\/www.ics-shipping.org\/\">International Chamber of Shipping<\/a><\/strong><strong> (ICS)<\/strong><strong> Chairman Esben Poulsson<\/strong> during Poulsson\u2019s first official visit to the Suez Canal, according to an official <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/400604835443276\">statement.<\/a> The agreement will see the two organizations hold an annual meeting to exchange experiences.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/osama-rabie-international-chamber-of-shipping\/\">Osama Rabie. International Chamber of Shipping<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal\/\">Suez Canal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"546354\" 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=\"546354\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/my-morning-routine-mohamed-khattab-chief-transformation-officer-b-tech\/\">\r\n                            My Morning Routine: Mohamed Khattab, chief transformation officer, B.TECH                        <\/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\/05\/12\/my-morning-routine-mohamed-khattab-chief-transformation-officer-b-tech\/\" 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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Speaking to us this week is B.TECH Chief Transformation Officer Mohamed Khattab (<a href=\"https:\/\/www.linkedin.com\/in\/mohamed-khattab-74223149\/\">LinkedIn<\/a>). B.TECH <a href=\"https:\/\/corporate.btech.com\/en\/news\/b-tech-concludes-egp-300-million-strategic-partnership-dpi\/\">landed investment<\/a> in 2016 <a href=\"https:\/\/www.dpi-llp.com\/portfolio\/b-tech\/\">from the UK\u2019s DPI<\/a> and bills itself as Egypt\u2019s largest retailer and distributor of home appliances and consumer electronics.<\/p>\n<p><strong>My name is Mohamed Khattab, and I\u2019m <\/strong><strong><a href=\"https:\/\/btech.com\/en\/\">B.TECH<\/a><\/strong><strong>\u2019s chief transformation officer. <\/strong>When I first started my tenure at B.TECH, my mandate was to build B.TECH\u2019s e-commerce business \u2014 the first omnichannel retail offering in Egypt. We started off as a three-person team in the e-commerce department, now our team is 250 people strong, contributing more than 20% of B.TECH\u2019s top-line.<\/p>\n<p><strong>For the past two years, I\u2019ve been focusing on the transformation of the company.<\/strong> Part of my job is growing e-commerce even further through differentiated business models and through launching new e-commerce models. As CTO, I am also focused on the transformation of the company from a traditional retailer with an online presence to a tech platform with a physical presence, putting tech at the core of the company and the way we work.<\/p>\n<p><strong>My daily routine is extremely important to me: <\/strong>I\u2019m the father of a three-year-old girl and one-year-old boy, so I haven\u2019t had to set an alarm for the past three years [laughs]. My kids typically wake me up at 05:30 am for our usual hour of morning playtime. After playtime is over, I enjoy a cup of coffee, have breakfast, and get ready to head to the office. I typically get to the office by 8 or 8:30am. I us my commute to and from work to tune in to the <a href=\"https:\/\/www.allinpodcast.co\/\">All-In<\/a> podcast.<\/p>\n<p><strong>The first thing I do when I get to work is read Enterprise. <\/strong>After I catch up on the news, I usually check my email for 15 to 30 minutes. Afterward, my daily \u201cmeetings marathon\u201d starts from 9:30am till the day\u2019s end. Given my scope of work, my daily meetings are very diverse. The meetings, on any given day, get into different fields including e-commerce, consumer finance, tech development, and retail transformation. The diversity is exciting but also very tiring [laughs].<\/p>\n<p><strong>I try to maintain a healthy work-life balance. <\/strong>I\u2019m a big believer in the importance of mindfulness. When I\u2019m at work, I\u2019m 100% there, and when I\u2019m home, I equally dedicate my attention to my family. This helps me maintain a healthy balance.<\/p>\n<p><strong>To relax and switch off from work I enjoy exploring new restaurants<\/strong>. I\u2019m a foodie, and I love discovering new cuisines. The food scene in Egypt evolved dramatically in recent years. I have a lot of restaurants on my list that I haven\u2019t checked out yet and look forward to trying them all out soon [laughs].<\/p>\n<p><strong>To stay focused, I like to play sports.<\/strong> Whether it\u2019s tennis, volleyball, soccer, or just hitting the gym, physical activity definitely helps energize me for the next day of work.<\/p>\n<p><strong>The three things that I have to do every day are spending time with my kids, drinking lots of coffee, and interviewing potential candidates.<\/strong> Because we are constantly scaling and building new teams, I typically spend a third of my week interviewing people. I believe a manager\u2019s most valuable asset is the team they hire. The quality of the team is directly proportionate to the quality of the business. That\u2019s why I dedicate so much of my time to the recruitment side of the job.<\/p>\n<p><strong>I think the future of B.TECH is extremely exciting. <\/strong>On a professional level, my goal is to transform the organization, which has proven itself over the years, into a much larger and much more advanced company. On a personal level, I\u2019m planning on getting into professional fishing. I\u2019m an avid diver and like to travel every now and then to the Red Sea to escape the hustle and bustle of Cairo.<\/p>\n<p><strong>The last great thing I watched is <\/strong><strong><a href=\"https:\/\/tv.apple.com\/us\/show\/wecrashed\/umc.cmc.6qw605uv2rwbzutk2p2fsgvq9\">WeCrashed<\/a><\/strong><strong>.<\/strong> The show takes you through the rise and fall of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f97a4129-74cb-4f96-8cfb-1b94a05246ec\">WeWork<\/a>, a startup that was once considered the world\u2019s most valuable unicorn. The series brilliantly delves into the process of building a startup. WeCrashed also sheds light on how founders can mistakenly prioritize boosting the valuation of their startups at all costs, instead of focusing on building a sustainable business. I highly recommend WeCrashed to entrepreneurs who are thinking about starting a company of their own.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/b-tech\/\">B.TECH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"546356\" 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\/05\/12\/546356\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-546356\" class=\"content-area-description single-story post-546356 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><strong>OUR CALENDAR NOW APPEARS in two sections: <\/strong><\/p>\n<ul>\n<li><strong>Events with specific dates or months <\/strong>are right here up top<\/li>\n<li><strong>Events happening in a quarter or other range of time <\/strong>with no specific date \/ month appear at the bottom of the calendar.<\/li>\n<\/ul>\n<p><strong>MAY<\/strong><\/p>\n<p>10-12 May (Tuesday-Thursday): <a href=\"https:\/\/globalevents.ebrd.com\/event\/abbff80b-9203-4a59-b458-a0b0a3cc6977\/summary?RefId=Press%20Open%20Registration&rp=bb613e72-8b0f-4ba6-b6cc-787264ded1db\">EBRD Annual Meeting and Business Forum<\/a>, Marrakesh, Morocco.<\/p>\n<p>12 May (Thursday): <a href=\"https:\/\/www.omfif.org\/events\/financing-sustainable-development-in-egypt\/\">Financing sustainable development in Egypt virtual roundtable<\/a>, Official Monetary and Financial Institutions Forum.<\/p>\n<p>12-13 May (Thursday-Friday): Egypt and UK will organize the May Ministerial Meeting in Denmark to discuss climate ahead of COP27.<\/p>\n<p>13-14 May (Friday-Saturday): <a href=\"https:\/\/targetmisrexpo.com\/\">Target Misr Expo<\/a>, Dusit, New Cairo.<\/p>\n<p>13-22 May (Friday-Sunday): <a href=\"https:\/\/psaworldtour.com\/tournaments\/view\/11748\">PSA World Championships<\/a>, Cairo.<\/p>\n<p>Mid-May: The <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0ECwZ4gxDh1BtFhSLpuSQNm8u9sYEbLw5o2eDJ4Y4L7AfCuAe2nMM7VfrR8qBiqnul\">trial period to extend<\/a> the Advance Cargo Information (ACI) system to air freight.<\/p>\n<p>19 May (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>19 May (Thursday): EFG Hermes\u2019 general shareholders\u2019 meeting to discuss, among several things, a capital increase of EGP 973 mn to finance the distribution of bonus shares to the company\u2019s minority shareholders.<\/p>\n<p>23 May (Monday): Lynx Strategic Business Advisors are hosting a <a href=\"https:\/\/us06web.zoom.us\/webinar\/register\/WN_inx2czHRSL-yHqfPUINunw\">webinar titled \u201cIntroducing Egypt's New E-Receipt System.\u201d<\/a><\/p>\n<p>25 May (Wednesday): The <a href=\"https:\/\/bit.ly\/36oOWst\">deadline for<\/a> private companies to pre-register ahead of bidding for the second phase of the PPP national project to establish and operate 1k language schools.<\/p>\n<p>30-31 May (Monday-Tuesday): <a href=\"https:\/\/www.facebook.com\/Moemigegy\/posts\/pfbid024Z27xPXYWTVC1sjCzbUQ4qKX7bWwAg6oyZmpTEuGod2WG9DP5UVXa3gtfqmaAtZAl\">Egypt Can with Industry<\/a>, Cairo, Egypt.<\/p>\n<p>31 May (Tuesday): Last day for EGX-listed companies to file 1Q2022 earnings<\/p>\n<p>31 May (Tuesday): The <a href=\"https:\/\/itida.gov.eg\/English\/Programs\/Export-IT%20Rebate%20Program%202017\/Pages\/default.aspx\">application deadline<\/a> for ITIDA\u2019s annual Export IT program.<\/p>\n<p>31 May (Tuesday): Extended deadline for EGX-listed companies to disclose 1Q 2021 earnings.<\/p>\n<p>May: Investment in Logistics Conference, Cairo, Egypt.<\/p>\n<p>May: General Authority for Land and Dry Ports to issue the conditions booklet for the tender to establish and operate the Tenth of Ramadan dry port.<\/p>\n<p><strong>JUNE<\/strong><\/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>5 June (Sunday): GB Auto is hosting an <a href=\"https:\/\/ent.news\/2022\/5\/GB-Auto-10-05-2022.pdf\">extraordinary general assembly meeting (pdf)<\/a>.<\/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>21-22 June (Tuesday-Wednesday): <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/298129062496947\">Aswan Forum for Sustainable Peace and Development<\/a>, Cairo.<\/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>30 June (Thursday): Deadline for bids for National Democratic Party HQ redevelopment contract.<\/p>\n<p>June: Egypt will <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/390172846486475\">launch a unified ticketing system<\/a> for all means of transport at the Adly Mansour Interchange Station.<\/p>\n<p>June: Polish President Andrzej Duda will visit Egypt to coordinate ways to ship Ukrainian wheat to Egypt amid the war in Ukraine.<\/p>\n<p><strong>JULY<\/strong><\/p>\n<p>July: A law governing ins. for seasonal contractors will come into effect.<\/p>\n<p>July: Fuel pricing committee meets to decide quarterly fuel prices.<\/p>\n<p>1 July (Friday): FY 2022-2023 begins.<\/p>\n<p>1 July (Friday): Official rollout of e-receipt system 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><strong>AUGUST<\/strong><\/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 600 MW to be completed.<\/p>\n<p>18 August (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p><strong>SEPTEMBER<\/strong><\/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>18 September (Sunday): Deadline for brokerage firms, asset managers and financial advisors <a href=\"https:\/\/alborsaanews.com\/2022\/04\/06\/1527896\">to register<\/a> with the Egyptian Securities Federation.<\/p>\n<p>20-21 September (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>22 September (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p><strong>OCTOBER<\/strong><\/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>1 October (Saturday): Use of Nafeza <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/381373340699759\">becomes compulsory<\/a> for air freight.<\/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><strong>NOVEMBER<\/strong><\/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\/\">COP 27<\/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><strong>DECEMBER<\/strong><\/p>\n<p>22 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p><strong>JANUARY 2023<\/strong><\/p>\n<p>January 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>EVENTS WITH NO SET DATE <\/strong><\/p>\n<p>1H2022: Target date for IDH to close its acquisition of 50% of Islamabad Diagnostic Center.<\/p>\n<p>1H2022: e-Finance\u2019s digital healthcare service platform, eHealth, will launch its services.<\/p>\n<p>1H2022: The government will respond to private companies\u2019 bids to build desalination plants.<\/p>\n<p>1H2022: Egypt\u2019s second corporate green bond issuance expected to be announced.<\/p>\n<p>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>2Q2022: The Sovereign Fund of Egypt will invest in two companies in the financial inclusion and non-banking financial services sectors.<\/p>\n<p>End of 2Q2022: The Financial Regulatory Authority\u2019s new Ins. Act should be approved.<\/p>\n<p>End of 2Q2022: Door for bidding for the contract to redevelop the site of the former National Democratic Party HQ to close.<\/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 its first financing product.<\/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>2023: Egypt <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/380561820780911\">will host<\/a> the Asian Infrastructure Investment Bank\u2019s Annual Meeting of the Board of Governors in 2023.<\/p>\n<p><strong>**Note to readers:<\/strong> Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish above between the actual holiday and its observance.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":546330,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-546329","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"aebd824c-1002-4e02-8095-73688bf57d65","teaser":"","photo_url":"https:\/\/ent.news\/2022\/5\/11.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>We just took another step towards sustainable development bonds - 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\/we-just-took-another-step-towards-sustainable-development-bonds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"We just took another step towards sustainable development bonds\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/we-just-took-another-step-towards-sustainable-development-bonds\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T21:24:56+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/11.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\/we-just-took-another-step-towards-sustainable-development-bonds\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/we-just-took-another-step-towards-sustainable-development-bonds\/\",\"name\":\"We just took another step towards sustainable development bonds - 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