{"id":546602,"date":"2022-05-23T04:00:57","date_gmt":"2022-05-23T04:00:57","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=546602"},"modified":"2025-12-15T21:31:21","modified_gmt":"2025-12-15T21:31:21","slug":"ma-in-food-healthcare-and-finance-set-up-a-heavy-day-for-business-news-plus-maait-warns-of-global-food-crisis","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/ma-in-food-healthcare-and-finance-set-up-a-heavy-day-for-business-news-plus-maait-warns-of-global-food-crisis\/","title":{"rendered":"M&#038;A in food, healthcare and finance set up a heavy day for business news. \r\nPlus: Maait warns of global food crisis"},"content":{"rendered":"<section id=\"546604\" 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=\"546604\">\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\/23\/this-morning-car-price-cap-raised-new-refund-rules-shoukry-at-davos\/\">\r\n                            THIS MORNING: Car price cap raised + new refund rules; Shoukry at Davos                        <\/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\/23\/this-morning-car-price-cap-raised-new-refund-rules-shoukry-at-davos\/\" 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\/23\/this-morning-car-price-cap-raised-new-refund-rules-shoukry-at-davos\/')\">\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\/23\/this-morning-car-price-cap-raised-new-refund-rules-shoukry-at-davos\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=THIS MORNING: Car price cap raised + new refund rules; Shoukry at Davos&url=https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/this-morning-car-price-cap-raised-new-refund-rules-shoukry-at-davos\/\">\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\/23\/this-morning-car-price-cap-raised-new-refund-rules-shoukry-at-davos\/&title=THIS MORNING: Car price cap raised + new refund rules; Shoukry at Davos\">\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+Car+price+cap+raised+%2B+new+refund+rules%3B+Shoukry+at+Davos+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F05%2F23%2Fthis-morning-car-price-cap-raised-new-refund-rules-shoukry-at-davos%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\/23\/this-morning-car-price-cap-raised-new-refund-rules-shoukry-at-davos\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-546604\" class=\"content-area-description single-story post-546604 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-automotive tag-consumer-protection-agency tag-cop27 tag-davos-2022 tag-enterpriseam tag-monkeypox tag-russia-ukraine-conflict tag-sameh-shoukry tag-vaccines tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Good morning, wonderful people, and welcome to a morning packed with M&amp;A news.<\/strong> Two of the three transactions involve inbound foreign (Saudi) investment, as this morning\u2019s tl;dr stack suggests. Unsurprisingly, food, healthcare and finance are all in play. We also have two IPO stories this morning: Fawry is putting on hold its plans for a New York listing (smart, given market conditions). And it looks like a number of high-profile state-owned hotel assets could be combined in a new entity on the fast-track to IPO.<\/p><p><strong>It\u2019s particularly nice to see M&amp;A and IPO news back at the top of the issue <\/strong>after a news cycle that was heavily dominated by state policy announcements.<\/p><p><strong>HAPPENING TODAY-<\/strong><\/p><p><a id=\"tldr-story-06\" class=\"content-anchor\"><\/a> <strong>WATCH THIS SPACE- Are you still waiting for a new car you ordered <\/strong><strong>before 12 April? Dealers may have to give you a full refund of your down payment \u2014 with interest<\/strong> \u2014 on orders placed before that date, according to reports overnight in both <a href=\"https:\/\/bit.ly\/3a5pBFq\">Masrawy<\/a> and state-owned <a href=\"https:\/\/auto.ahram.org.eg\/News\/86829.aspx\">Al Ahram<\/a>. The reports say the refund mechanism will be specified in a regulation to be published later today in the Official Gazette. The ruling by the Consumer Protection Agency (CPA) will reportedly specify that anyone who requests refunds will be entitled to interest \u201cat the highest prevailing bank rate,\u201d which by our math is the 18% deposit offered by Banque Misr and the National Bank of Egypt. Folks who paid before 12 April (three weeks after the float) will have full price protection, the reports suggest.<\/p><p><strong>The Consumer Protection Agency is also raising by 5% the cap on prices <\/strong>it <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fe06a304-c8fb-4917-a0f3-7ee766d4a6ab\">introduced in March<\/a> in the wake of the float of the EGP. While the domestic press reports some car industry players welcoming the decision, which was announced at a press conference, the CPA has not issued a written statement. We\u2019ll have the full rundown for you once the Official Gazette is out and we can see whether the rubber meets the road (pardon the horrid pun, but it\u2019s 4am and, well, it is what it is).<\/p><hr class=\"grey-line\"><p><strong>MEANWHILE- Foreign Minister Sameh Shoukry is in Davos for the World Economic Forum <\/strong><strong>(WEF)\u2019s first in-person annual meeting<\/strong> since the covid-19 outbreak, the Foreign Ministry <a href=\"https:\/\/bit.ly\/3sM3LgI\">said<\/a> yesterday. Shoukry, who is also president of COP27, will participate in an event on how policymakers in the MENA region can use public-private partnerships to meet climate targets, and will hold talks with WEF delegates about Egypt\u2019s hosting of the global climate summit.<\/p><p><strong>On Day #1:<\/strong> The <a href=\"https:\/\/www.weforum.org\/events\/world-economic-forum-annual-meeting-2022\/programme\">first day of the event<\/a> will see attendees chew over the global food crisis, the impact on the global economy of sanctions on Russia, and climate tech, as well as the future of globalization, national digital currencies and the effects of social media on societies. It will also see a special address from Ukrainian President Volodymyr Zelensky.<\/p><p><strong>SIGN OF THE TIMES-<\/strong> <strong><a href=\"https:\/\/www.ft.com\/content\/0599878e-a820-4657-8e52-f069bb10d512\">Business leaders warn that three-decade era of globalization is ending<\/a><\/strong><strong>. <\/strong>That\u2019s the headline atop the front-page WEF scene setter in the FT this morning.<\/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><\/p><p><strong>Vaccines at the ready:<\/strong> It has only been in the headlines a few days but the EU and the US are already talking about monkeypox vaccine programmes in response to the outbreak, which has so far spread to <a href=\"https:\/\/www.bbc.co.uk\/news\/health-61540474\">15 countries<\/a>. The EU\u2019s infectious diseases agency is recommending member states start preparing to vaccinate against the virus, while President Joe Biden said that the US government will study what vaccines it has to deploy. Meanwhile, Belgium yesterday became the first country to mandate a three-week quarantine for people infected with the virus. The UK is telling people who have come into contact with patients to isolate for three weeks, and has launched contact tracing and testing. (<a href=\"https:\/\/www.ft.com\/content\/11df80f5-32d5-4bb3-8215-420574f276c4\">FT<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/politics\/2022\/05\/22\/biden-monkeypox-vaccines-outbreak\/\">Washington Post<\/a> | <a href=\"https:\/\/www.politico.eu\/article\/belgium-introduce-quarantine-monkeypox-case\/\">Politico<\/a> | <a href=\"https:\/\/www.theguardian.com\/world\/2022\/may\/22\/monkeypox-uk-health-security-agency-to-announce-more-cases\">The Guardian<\/a>)<\/p><p><strong>Ukraine latest:<\/strong> Eyes are still firmly trained on Ukraine, where Russia is making gains in the east of the country after taking full control of Mariupol at the weekend. (<a href=\"https:\/\/www.reuters.com\/world\/europe\/ukraine-rejects-concessions-russians-attack-east-south-2022-05-22\/\">Reuters<\/a> | <a href=\"https:\/\/apnews.com\/article\/russia-ukraine-putin-moscow-d99f8629e85798abb6d51749350553ae\">AP<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/world\/2022\/05\/22\/russia-ukraine-war-news-live-updates\/\">Washington Post<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/polish-leader-returns-to-ukraine-backing-eu-bid-and-efforts-to-restart-exports-11653217429?mod=hp_lead_pos8\">WSJ<\/a>)<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>Direct flights between Cairo and Dublin will launch starting 2 June<\/strong>, the Civil Aviation Ministry said in <a href=\"https:\/\/bit.ly\/3LFWNjU\">a statement<\/a> yesterday. EgyptAir will operate four flights a week between the two capitals.<\/p><p><strong>Direct flights between Cairo and Sao Paulo will also be announced soon<\/strong>, Brazilian officials in Cairo were <a href=\"https:\/\/bit.ly\/3MHrEhA\">quoted as saying<\/a>.<\/p><p><strong>The Islamic Development Bank will hold its 2022 annual meetings in Sharm El Sheikh <\/strong><strong>from 1-4 June<\/strong> under the slogan \u201cpost-pandemic recovery: resilience and sustainability,\u201d according to a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0jvihLteLq8b9ZARt5hJAEhitjqAqsUdj9gAcRJ9xz8m6aPvGvjcAtCR3WmRWc8fEl?__cft__%5B0%5D=AZXZssTR1icXqmubKE_PPiV6lREUubQEuMRA3DMjPGWqUbg2ja-RcHKzFB1Af25iQQZkznkM0N16YdKIQEqSCkx0SN1scmJtgoH1nDgbK_2V6updeZ5WJoV-4hua411FMTk0NjP1vA_9uNe0cipuIez3&amp;__tn__=%2CO%2CP-R\">statement<\/a> from the Planning Ministry. Several Egyptian ministries and representatives from the bank\u2019s 57 member countries and other financial institutions are set to attend the meetings.<\/p><p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/CIRA-Blackboard-Banner-B.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. Blackboard appears every Monday in Enterprise in the place of our traditional industry news roundups.<\/p><p><strong>In today\u2019s issue:<\/strong> We do a deep dive on the <a href=\"https:\/\/www.ekb.eg\/\">Egyptian Knowledge Bank (EKB)<\/a> \u2014 an online portal <a href=\"https:\/\/enterprise.press\/stories\/2016\/01\/11\/ah-the-house-of-representatives\/\">l<\/a><a href=\"https:\/\/enterprise.press\/stories\/2016\/01\/11\/ah-the-house-of-representatives\/\">aunched in 2016<\/a> by the Education Ministry that gives researchers access to a number of academic journals.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/consumer-protection-agency\/\">Consumer Protection Agency<\/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\/davos-2022\/\">Davos 2022<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/monkeypox\/\">Monkeypox<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia-ukraine-conflict\/\">Russia-Ukraine conflict<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sameh-shoukry\/\">Sameh Shoukry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"546605\" 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=\"546605\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/546605\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-546605\" class=\"content-area-description single-story post-546605 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\/5\/SOMA-RACEWAY-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n<p>Bring the action. A little friendly competition never hurt anyone. Test your skills, reflexes, and nerves with Somabay\u2019s all-new Soma Raceway Go-Karting experience. For your next shot of adrenaline, come join us at the track located next to the marina every day starting at 5 pm.<\/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=\"546606\" 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=\"546606\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/maait-warns-of-global-food-crisis-says-talks-with-imf-going-very-well-ft-interview\/\">\r\n                            Maait warns of global food crisis, says talks with IMF going \u201cvery well\u201d \u2013FT interview                        <\/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\/23\/maait-warns-of-global-food-crisis-says-talks-with-imf-going-very-well-ft-interview\/\" 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\/23\/maait-warns-of-global-food-crisis-says-talks-with-imf-going-very-well-ft-interview\/')\">\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\/23\/maait-warns-of-global-food-crisis-says-talks-with-imf-going-very-well-ft-interview\/\">\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=Maait warns of global food crisis, says talks with IMF going \u201cvery well\u201d \u2013FT interview&url=https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/maait-warns-of-global-food-crisis-says-talks-with-imf-going-very-well-ft-interview\/\">\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\/23\/maait-warns-of-global-food-crisis-says-talks-with-imf-going-very-well-ft-interview\/&title=Maait warns of global food crisis, says talks with IMF going \u201cvery well\u201d \u2013FT interview\">\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=Maait+warns+of+global+food+crisis%2C+says+talks+with+IMF+going+%E2%80%9Cvery+well%E2%80%9D+%E2%80%93FT+interview+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F05%2F23%2Fmaait-warns-of-global-food-crisis-says-talks-with-imf-going-very-well-ft-interview%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\/23\/maait-warns-of-global-food-crisis-says-talks-with-imf-going-very-well-ft-interview\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/293.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"546607\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/maait-warns-of-global-food-crisis-says-talks-with-imf-going-very-well-ft-interview\/293-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/293.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"293.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/293.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/293.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-546606\" class=\"content-area-description single-story post-546606 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam tag-imf tag-inflation tag-mohamed-maait tag-russia-ukraine-conflict tag-subsidies 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>Surging food prices on the back of the crisis in Ukraine could put \u201cmns\u201d <\/strong><strong>at risk<\/strong> around the world, Finance Minister Mohamed Maait told <a href=\"https:\/\/www.ft.com\/content\/ce2c9890-1aa2-4d56-bd4f-bcf9d4b5a0c4\">the Financial Times<\/a> in an interview in London. Coming during the British Egyptian Business Association\u2019s trip to the UK last week, the minister warned of rising food insecurity \u2014 a theme the <a href=\"https:\/\/www.theguardian.com\/world\/2022\/may\/19\/ukraine-war-has-stoked-global-food-crisis-that-could-last-years-says-un\">UN<\/a>, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fde6d8e5-fe3d-41dc-8c25-08ffc76f798d\">World Bank<\/a> and <a href=\"https:\/\/www.dw.com\/en\/g7-warn-of-global-food-crisis-vow-indefinite-supply-of-weapons-for-ukraine\/a-61801127\">G7<\/a> have hit in recent days. \u201cWe will feel shame if we find that mns of people [around the world] are dying because of food insecurity. They are not responsible for that, they didn\u2019t do anything wrong,\u201d he said.<\/p>\n<p><strong>No recession at home:<\/strong> Maait ruled out that Egypt would see a recession this year. \u201cThe issue of going to recession, I\u2019m ruling [it] out,\u201d he said, adding that Egypt was among the few countries to avoid recession during the pandemic. The government recently <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d8333c14-37f1-4063-91f9-23559eccddbd\">cut its 2022-2023 GDP outlook<\/a> to 4.5% from 5.5%, but few economists right now are expecting the Egyptian economy to contract due to the global crisis.<\/p>\n<p><strong>REMEMBER- A recession is two (or more) quarters of economic contraction <\/strong>\u2014 NOT two or more quarters during which the economy grows, but at a slower pace than before. The latter is a slowdown in growth, not a recession.<\/p>\n<p><strong>Negotiations with the IMF for a new program are going \u201cvery well,\u201d<\/strong> but neither the government or the Fund have put forward a figure, Maait said. Egypt has been in talks with the global lender of last resort <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f0975edf-53e6-4124-90c6-965a54f7fc41\">for several months<\/a> to receive a new assistance program to help it mitigate the fiscal strain and balance of payments pressures caused by spillover effects from the war in Ukraine. Prime Minister Moustafa Madbouly <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a4e3bad5-0ccb-44bf-8327-c3a52ba2bcf3\">said last week<\/a> that it could still take months before an agreement is reached, while central bank chief Tarek Amer <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5ac83b64-39ec-4a4d-9127-30c5818f81c2\">said<\/a> Egypt would only receive a limited amount of funding due to already exceeding its quota.<\/p>\n<p><strong>The government still plans to \u201crationalize\u201d bread subsidies<\/strong>, but it will do it \u201cover a gradual basis,\u201d Maait told the salmon-colored paper. \u201cSo as long as the cost of bread and the cost of producing bread increases, so the cost of subsidy on the budget increases . . . It cannot go like that,\u201d he said. The prospect of lifting brea subsidies was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6e8805a2-911d-4ef7-8313-0f9ccacf70fd\">first put forward<\/a> last year by President Abdel Fattah El Sisi, before the war in Ukraine sent shockwaves through global food markets.<\/p>\n<p><strong>The crisis means that Egypt is going to need to spend more on subsidies in FY 2022-2023<\/strong>. The state expects to spend EGP 356 bn on subsidies in total, up 11% on last year, due to rising food and energy prices, according to the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/59023cb0-be71-414c-9041-8118c08c2965\">draft budget<\/a>.<\/p>\n<p><strong>MEANWHILE-<\/strong><\/p>\n<p><strong>President Abdel Fattah El Sisi signed off a law to increase allocations in the 2021-2022 <\/strong><strong>state budget by EGP 6 bn<\/strong> to help Egypt meet debt repayments, <a href=\"https:\/\/mena.org.eg\/ar\/news\/dbcall\/table\/webnews\/id\/9582809\">state-run MENA agency<\/a> reported. This comes a week after the MPs <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/59023cb0-be71-414c-9041-8118c08c2965\">voted in favor<\/a> of the bill.<\/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\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-maait\/\">Mohamed Maait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia-ukraine-conflict\/\">Russia-Ukraine conflict<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/subsidies\/\">subsidies<\/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=\"546608\" 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=\"546608\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/pif-eyes-united-bank-amid-state-privatization-push\/\">\r\n                            PIF eyes United Bank amid state privatization push                        <\/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\/23\/pif-eyes-united-bank-amid-state-privatization-push\/\" 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 Public Investment Fund\u2019s play for UB comes amid a backdrop of an influx of investment from our friends in the Gulf, part of a raft of support measures to help shore up Egypt\u2019s fiscal position amid global volatility triggered by the war in Ukraine. Execs at United Bank declined to comment yesterday when we reached out.<\/p>\n<p><strong>SOUND SMART- <\/strong>The Central Bank of Egypt holds 99.9% of United Bank, which it created in 2006 through the merger of smaller entities near the end of its well-regarded cleanup of the banking sector nearly two decades ago.<\/p>\n<p><strong>Is the transaction part of the promised USD 10 bn from the KSA? <\/strong>Saudi and Egypt inked an agreement in March that would see the sovereign fund <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce28f2c9-69b3-4c78-b2ab-1eb5d194e101\">invest up to USD 10 bn<\/a> in our healthcare, education, agriculture and financial services sectors. No further details have yet been released on which assets PIF is targeting.<\/p>\n<p><strong>Five years in the making:<\/strong> In 2017, the CBE <a href=\"https:\/\/enterprise.press\/stories\/2017\/01\/18\/cbe-approves-egp-2-5-bn-capital-increase-for-united-bank-of-egypt\/\">said it intended to sell the bank<\/a> to a strategic investor and appointed EFG Hermes and New York\u2019s Evercore to advise on the transaction, before the covid-19 pandemic <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/50318de6-da3a-4bb1-887e-15199d9d4c21\">put the sale on ice<\/a>.<\/p>\n<p><strong>PIF likes our banking sector:<\/strong> The Saudi fund has strong interest in the Egyptian financial sector due to its resilience in the face of back-to-back crises, Hapi quotes its sources as suggesting.<\/p>\n<p><strong>They\u2019re not the only ones:<\/strong> Financial services firms have also been <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b4a11664-2159-45ba-ba2f-bf0d3dfd3978\">a key target for Abu Dhabi wealth fund ADQ<\/a>, which bought a 17.15% stake in leading private sector bank CIB, and an 11.8% stake in fintech player Fawry as part of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b620f717-d83d-4c48-906c-a85dca2eff2a\">a USD 2 bn investment<\/a> agreed in March.<\/p>\n<p><strong>And the gov\u2019t is in selling mode: <\/strong>The government\u2019s recently unveiled privatization strategy aims to raise USD 10 bn <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0894c99e-e18e-473e-a869-64812c50988b\">annually over the next four years<\/a> by selling stakes in state-owned assets to local and international investors. The state hopes to double the private sector\u2019s role in the economy over the next three years in a bid to attract bns of USD of fresh foreign investment into the country.<\/p>\n<p><strong>UB isn\u2019t the only state-owned bank earmarked for (at least partial) privatization: <\/strong>The government has also had plans to sell a stake in Banque du Caire for years, and could go ahead with its long-awaited IPO <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/341bd556-a758-49d4-9aa9-1852ae8a3d9f\">later this year<\/a>.<\/p>\n<p><strong>ADVISORS:<\/strong> CI Capital is reportedly acting as UB's advisor, according to Hapi\u2019s sources.<\/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\/ci-capital\/\">CI Capital<\/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\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pif\/\">PIF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/united-bank\/\">United 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=\"546610\" 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=\"546610\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/\">\r\n                            Saudi food group eyes Ole bakery + Ibnsina breaks into hospitals with El Shorouk acquisition                        <\/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\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/\" 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\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/')\">\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\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/\">\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=Saudi food group eyes Ole bakery + Ibnsina breaks into hospitals with El Shorouk acquisition&url=https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/\">\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\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/&title=Saudi food group eyes Ole bakery + Ibnsina breaks into hospitals with El Shorouk acquisition\">\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=Saudi+food+group+eyes+Ole+bakery+%2B+Ibnsina+breaks+into+hospitals+with+El+Shorouk+acquisition+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F05%2F23%2Fsaudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition%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\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/296.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"546611\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/296-jpg-43\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/296.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"296.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/296.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/296.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-546610\" class=\"content-area-description single-story post-546610 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-egyptian-belgian-company-for-industrial-investments tag-enterpriseam tag-food-and-beverage tag-ibnsina-pharma tag-ma-watch tag-ole tag-pharma tag-saudi-arabia tag-savola-group wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Saudi food conglomerate <\/strong><strong><a href=\"https:\/\/www.savola.com\/en\">Savola Group<\/a><\/strong><strong> is close to acquiring the Egyptian <\/strong><strong>Belgian Company <\/strong>\u2014 best known for its Ole-branded baked goods \u2014 in a transaction worth c. EGP 600 mn, a source familiar with the matter confirmed Enterprise. <a href=\"https:\/\/bit.ly\/3lReseh\">Hapi Journal<\/a> had reported that the acquisition would see the company acquire both the manufacturer\u2019s assets and its brand name. Our source was not able to confirm this or disclose an exact timeline for the acquisition.<\/p>\n<p><strong>This isn\u2019t the first time Ole has been up for grabs: <\/strong>Edita Food Industries <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/760ea573-a3b9-4647-8f74-1adfa7b431e6\">was interested in<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/760ea573-a3b9-4647-8f74-1adfa7b431e6\">acquiring assets<\/a> belonging to the company but talks <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1c24329e-129f-4903-9d36-040e2ffded2d\">fell through<\/a> in January after the two sides failed to reach an agreement on valuation.<\/p>\n<p><strong>Savola has been eyeing acquisitions in Egypt\u2019s food sector for a while: <\/strong>The company said last year that it is considering <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7b8c8f1f-bd5f-41d1-ac95-ca0c7f780d98\">acquiring food companies in Egypt<\/a>. Savola said at the time that it would target companies who produce items not covered by its existing portfolio.<\/p>\n<p><strong>Savola is already a big player in our market \u2014 even if it\u2019s not a \u201chousehold name\u201d:<\/strong> The company is behind popular local cooking oil, ghee, pasta, and sugar brands including Rawabi ghee, Afia oils, and El Maleka and Italiano pastas. Its products are sold across the region, including in the Gulf, Sudan, and Turkey. <strong>Egypt accounted for about <\/strong><strong>17% of Savola\u2019s revenues <\/strong><strong>in 1Q 2022<\/strong>, according to the company\u2019s investor presentation.<\/p>\n<p><strong>ADVISORS- <\/strong>Zilla Capital is acting as the Egyptian Belgian Company\u2019s financial advisor, while Al Ahly Pharos is Savola\u2019s financial advisor, our source confirmed.<\/p>\n<hr class=\"grey-line\">\n<p><strong>OTHER M&A NEWS- Ibnsina Pharma is getting into the hospital business <\/strong><strong>with the acquisition of<\/strong> <strong><a href=\"http:\/\/elsheroukhospital.com\/\">El Shorouk Hospital<\/a><\/strong> <strong>in a transaction worth EGP 430 mn<\/strong>, the company said in a <a href=\"https:\/\/ent.news\/2022\/5\/Shorouk-Hospital-ER-English.pdf\">press release<\/a><a href=\"https:\/\/ent.news\/2022\/5\/Shorouk-Hospital-ER-English.pdf\">(pdf)<\/a> yesterday. Ibnsina will pay EGP 200 mn in cash and will settle existing debts owed by the hospital. The statement does not make clear who the seller is. Company representatives did not respond to Enterprise\u2019s request for comment.<\/p>\n<p><strong>What they\u2019ve bought:<\/strong> Ibnsina will acquire the hospital\u2019s real estate and operational assets, as well as the operating company. The 105-bed hospital serves residents across Shorouk City and neighboring Madinaty, Rehab, Badr City, New Cairo, and East Cairo.<\/p>\n<p><strong>W<\/strong><strong>hat they said:<\/strong> \u201cThe rollout of the Universal Healthcare plan and the construction of new cities are behind our appetite for further investments in the healthcare sector. Population growth and having more people covered translates into higher demand for healthcare services,\u201d said co-CEO Omar Abdel Gawad.<\/p>\n<p><strong>Looking ahead: <\/strong>Ibnsina will work on renovating the hospital and installing new equipment by the end of the year. The company has also hired a new team to manage the hospital, it said.<\/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\/egyptian-belgian-company-for-industrial-investments\/\">Egyptian Belgian Company for Industrial Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food-and-beverage\/\">food and beverage<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ibnsina-pharma\/\">Ibnsina Pharma<\/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\/ole\/\">Ole<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharma\/\">pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/savola-group\/\">Savola 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=\"546612\" 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=\"546612\">\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\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/unfavorable-market-conditions-put-fawrys-us-listing-on-hold\/\">\r\n                            Unfavorable market conditions put Fawry\u2019s US listing on hold                        <\/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\/23\/unfavorable-market-conditions-put-fawrys-us-listing-on-hold\/\" 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\/23\/unfavorable-market-conditions-put-fawrys-us-listing-on-hold\/')\">\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\/23\/unfavorable-market-conditions-put-fawrys-us-listing-on-hold\/\">\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=Unfavorable market conditions put Fawry\u2019s US listing on hold&url=https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/unfavorable-market-conditions-put-fawrys-us-listing-on-hold\/\">\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\/23\/unfavorable-market-conditions-put-fawrys-us-listing-on-hold\/&title=Unfavorable market conditions put Fawry\u2019s US listing on hold\">\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=Unfavorable+market+conditions+put+Fawry%E2%80%99s+US+listing+on+hold+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F05%2F23%2Funfavorable-market-conditions-put-fawrys-us-listing-on-hold%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\/23\/unfavorable-market-conditions-put-fawrys-us-listing-on-hold\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/297.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"546613\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/unfavorable-market-conditions-put-fawrys-us-listing-on-hold\/297-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/297.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"297.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/297.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/297.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-546612\" class=\"content-area-description single-story post-546612 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-capital-markets tag-enterpriseam tag-fawry tag-ipo-watch tag-nasdaq tag-us 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>Fawry has <\/strong><strong>postponed plans to list its shares in the US<\/strong> due to the current sell-off in US tech stocks, a source at Fawry told Enterprise yesterday.<\/p>\n<p><strong>Fawry <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b39b1b1b-5efa-4e74-a05e-e910d41454a2\">had been<\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b39b1b1b-5efa-4e74-a05e-e910d41454a2\">exploring<\/a><\/strong><strong> an SEC-registered secondary offering<\/strong> with plans to create an American depositary shares (ADS) program to allow it to list.<\/p>\n<p><strong>Never say never:<\/strong> The company will \u201ccontinue to monitor market conditions,\u201d the source said, without disclosing where the company stands in its preparation for the IPO or when it might revisit the plans.<\/p>\n<p><strong>US tech stocks are deep in bear territory:<\/strong> The tech-heavy Nasdaq has tumbled 30% from its November peak as rising interest rates and fears of an oncoming recession send investors fleeing growth stocks. Growth stocks don\u2019t usually pay out dividends, tend to have higher valuations and rely on future growth projections to attract investors, making them more vulnerable in an environment of rising interest rates.<\/p>\n<p><strong>And volatility on the Nasdaq is a bit nuts right now, as Swvl can attest: <\/strong>The mass-transport app\u2019s stock was down 5% on Friday at USD 5.02 apiece \u2014 that\u2019s about 17% below its five-day peak. Swvl\u2019s shares are down 34% in the past month \u2014 after having soared about 137% in the period between 19 and 28 April.<\/p>\n<p><strong>MEANWHILE- Fawry has already raised 99.9% of its EGP 800 mn capital increase<\/strong> through a rights issue to existing shareholders and will close the remainder today, the source told us. Fawry in January announced the capital increase, which will help expand its non-banking financial services offering, including plans to turn its MyFawry app into a super app. It follows a similar EGP 400 mn capital increase in June of last year.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fawry\/\">Fawry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nasdaq\/\">Nasdaq<\/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=\"546614\" 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=\"546614\">\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\">Privatization<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/hotels-to-be-listed-on-the-egx-as-part-of-state-privatization-plans-tawfik\/\">\r\n                            Hotels to be listed on the EGX as part of state privatization plans -Tawfik                        <\/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\/23\/hotels-to-be-listed-on-the-egx-as-part-of-state-privatization-plans-tawfik\/\" 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\/23\/hotels-to-be-listed-on-the-egx-as-part-of-state-privatization-plans-tawfik\/')\">\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\/23\/hotels-to-be-listed-on-the-egx-as-part-of-state-privatization-plans-tawfik\/\">\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=Hotels to be listed on the EGX as part of state privatization plans -Tawfik&url=https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/hotels-to-be-listed-on-the-egx-as-part-of-state-privatization-plans-tawfik\/\">\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\/23\/hotels-to-be-listed-on-the-egx-as-part-of-state-privatization-plans-tawfik\/&title=Hotels to be listed on the EGX as part of state privatization plans -Tawfik\">\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=Hotels+to+be+listed+on+the+EGX+as+part+of+state+privatization+plans+-Tawfik+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F05%2F23%2Fhotels-to-be-listed-on-the-egx-as-part-of-state-privatization-plans-tawfik%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\/23\/hotels-to-be-listed-on-the-egx-as-part-of-state-privatization-plans-tawfik\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/298.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"546615\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/hotels-to-be-listed-on-the-egx-as-part-of-state-privatization-plans-tawfik\/298-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/298.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"298.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/298.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/298.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-546614\" class=\"content-area-description single-story post-546614 post type-post status-publish format-standard has-post-thumbnail hentry category-privatization-watch tag-egx tag-enterpriseam tag-hisham-tawfik tag-privatization-watch tag-sovereign-fund-of-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Egypt will merge seven or eight state-owned hotels into a single entity ahead of a <\/strong><strong>listing on the EGX<\/strong>, Public Enterprises Minister Hisham Tawfik told <a href=\"https:\/\/www.asharqbusiness.com\/article\/37751\">Bloomberg Asharq<\/a>. The new entity will be offered to investors in coordination with the Sovereign Fund of Egypt (SFE) in the coming months, he said.<\/p>\n<p><strong>Which hotels will be merged is still TBC:<\/strong> The ministry hasn\u2019t yet evaluated the finances of hotels owned by the Holding Company for Tourism and Hotels (HOTAC), Tawfik said, adding that the plan would not include Nile Ritz-Cartlon, owned by Misr Hotels Company, which is already listed on the EGX.<\/p>\n<p><strong>HOTAC owns several leading hotels<\/strong>, including the Cairo Marriott Hotel, Marriott Mena House, Luxor\u2019s Sofitel Winter Palace, and Aswan\u2019s Sofitel Legend Old Cataract, according to its <a href=\"http:\/\/hotac-eg.com\/?page_id=4254\">website<\/a>.<\/p>\n<p><strong>What we know: <\/strong>The Public Enterprise Minister\u2019s statements <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/158188ff-65a9-4146-adc1-5f53c1a3f6e5\">come a week<\/a> after the PM said a number of state-owned hotels would be merged and offered to domestic investors as part of government plans to privatize state-owned assets and boost the private sector\u2019s role in the economy.<\/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\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hisham-tawfik\/\">Hisham Tawfik<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/privatization-watch\/\">privatization watch<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"546616\" 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=\"546616\">\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\">Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/aci-air-freight-trials-begin\/\">\r\n                            ACI air freight trials begin                        <\/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\/23\/aci-air-freight-trials-begin\/\" 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\/23\/aci-air-freight-trials-begin\/')\">\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\/23\/aci-air-freight-trials-begin\/\">\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=ACI air freight trials begin&url=https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/aci-air-freight-trials-begin\/\">\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\/23\/aci-air-freight-trials-begin\/&title=ACI air freight trials begin\">\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=ACI+air+freight+trials+begin+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F05%2F23%2Faci-air-freight-trials-begin%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\/23\/aci-air-freight-trials-begin\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-546616\" class=\"content-area-description single-story post-546616 post type-post status-publish format-standard hentry category-trade tag-aci tag-customs tag-enterpriseam tag-trade wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>The government has begun <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/32b15e18-83f6-4e63-8a58-5fe31877b61b\">trialing<\/a><\/strong><strong> the Advance Customs Information (ACI) customs system on air <\/strong><strong>freight shipments<\/strong> ahead of its official rollout later this year, Misr Technology Services\u2019 (MTS) Khaled Nassef told us yesterday. The ACI is a pre-registration system that provides real-time information about incoming shipments and is a key part of the Finance Ministry\u2019s Nafeza digital customs window which was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a6c476e4-b695-4719-b2c4-57a24eba139c\">launched in maritime ports in October<\/a>. Authorities are calling on businesses that use air freight to import goods to register with the system before the system becomes mandatory in October.<\/p>\n<p><strong>What is MTS?<\/strong> Misr Technology Services is a trade and logistics platform provider and has been responsible for the rollout of the Nafeza customs window and the design of the ACI system.<\/p>\n<p><strong>>80% are on board:<\/strong> More than 31k maritime and air freight importers have so far joined the ACI system, Nassef said, adding that he estimates this represents more than 80% of all importers.<\/p>\n<p><strong>Want more on Nafeza and ACI?<\/strong> We explain everything <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e9e2f68a-8c99-4750-b736-cbcdd6f65839\">here<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aci\/\">ACI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/customs\/\">customs<\/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=\"546617\" 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=\"546617\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/money-laundering-amendments-earn-preliminary-approval-in-the-house\/\">\r\n                            Money laundering amendments earn preliminary approval in the House                        <\/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\/23\/money-laundering-amendments-earn-preliminary-approval-in-the-house\/\" 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\/23\/money-laundering-amendments-earn-preliminary-approval-in-the-house\/')\">\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\/23\/money-laundering-amendments-earn-preliminary-approval-in-the-house\/\">\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=Money laundering amendments earn preliminary approval in the House&url=https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/money-laundering-amendments-earn-preliminary-approval-in-the-house\/\">\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\/23\/money-laundering-amendments-earn-preliminary-approval-in-the-house\/&title=Money laundering amendments earn preliminary approval in the House\">\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=Money+laundering+amendments+earn+preliminary+approval+in+the+House+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F05%2F23%2Fmoney-laundering-amendments-earn-preliminary-approval-in-the-house%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\/23\/money-laundering-amendments-earn-preliminary-approval-in-the-house\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-546617\" class=\"content-area-description single-story post-546617 post type-post status-publish format-standard hentry category-legislation-watch tag-enterpriseam tag-hajj tag-house-of-representatives tag-legislation tag-legislation-watch tag-money-laundering wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>MPs gave preliminary approval to proposed <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4c6e1bff-c205-4d35-877a-2cb3fcce5824\">amendments<\/a><\/strong><strong> to the Anti-Money <\/strong><strong>Laundering Act<\/strong> yesterday, <a href=\"https:\/\/gate.ahram.org.eg\/News\/3523069.aspx\">Ahram Gate<\/a> reported. The changes would create an anti-money laundering unit at the central bank, handing it greater powers to prevent money laundering and terrorist financing. The House also approved in principle a new bill organizing Hajj trips, according to <a href=\"https:\/\/bit.ly\/3G6pMwa\">Youm7<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hajj\/\">hajj<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation\/\">legislation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/money-laundering\/\">money laundering<\/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=\"546618\" 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=\"546618\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/ibnsina-earnings-up-17-in-1q-2022\/\">\r\n                            Ibnsina earnings up 17% in 1Q 2022                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/ibnsina-earnings-up-17-in-1q-2022\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/ibnsina-earnings-up-17-in-1q-2022\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/ibnsina-earnings-up-17-in-1q-2022\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Ibnsina earnings up 17% in 1Q 2022&url=https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/ibnsina-earnings-up-17-in-1q-2022\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/ibnsina-earnings-up-17-in-1q-2022\/&title=Ibnsina earnings up 17% in 1Q 2022\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Ibnsina+earnings+up+17%25+in+1Q+2022+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F05%2F23%2Fibnsina-earnings-up-17-in-1q-2022%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/ibnsina-earnings-up-17-in-1q-2022\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-546618\" class=\"content-area-description single-story post-546618 post type-post status-publish format-standard hentry category-earnings-watch tag-earnings tag-earnings-watch tag-enterpriseam tag-ibnsina-pharma tag-pharma wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Ibnsina Pharma\u2019s<\/strong><strong> net income rose 17% y-o-y in 1Q 2022 <\/strong>to EGP 58.8 mn, according to the company\u2019s latest <a href=\"https:\/\/ent.news\/2022\/5\/Ibn-sina-pharma-1Q2022.pdf\">financial statements (pdf)<\/a>. Ibnsina booked revenues of EGP 5.3 bn, up 12% y-o-y.<\/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\/earnings\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ibnsina-pharma\/\">Ibnsina Pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharma\/\">pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"546619\" 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=\"546619\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/cib-appoints-emirati-board-members-after-adq-stake-purchase-elfass-joins-nawah-scientific\/\">\r\n                            CIB appoints Emirati board members after ADQ stake purchase, Elfass joins Nawah Scientific                        <\/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\/23\/cib-appoints-emirati-board-members-after-adq-stake-purchase-elfass-joins-nawah-scientific\/\" 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\/23\/cib-appoints-emirati-board-members-after-adq-stake-purchase-elfass-joins-nawah-scientific\/')\">\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\/23\/cib-appoints-emirati-board-members-after-adq-stake-purchase-elfass-joins-nawah-scientific\/\">\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=CIB appoints Emirati board members after ADQ stake purchase, Elfass joins Nawah Scientific&url=https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/cib-appoints-emirati-board-members-after-adq-stake-purchase-elfass-joins-nawah-scientific\/\">\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\/23\/cib-appoints-emirati-board-members-after-adq-stake-purchase-elfass-joins-nawah-scientific\/&title=CIB appoints Emirati board members after ADQ stake purchase, Elfass joins Nawah Scientific\">\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=CIB+appoints+Emirati+board+members+after+ADQ+stake+purchase%2C+Elfass+joins+Nawah+Scientific+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F05%2F23%2Fcib-appoints-emirati-board-members-after-adq-stake-purchase-elfass-joins-nawah-scientific%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\/23\/cib-appoints-emirati-board-members-after-adq-stake-purchase-elfass-joins-nawah-scientific\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-546619\" class=\"content-area-description single-story post-546619 post type-post status-publish format-standard hentry category-moves tag-adq tag-amr-elfass tag-aziz-moolji tag-cib tag-enterpriseam tag-fadhel-al-ali tag-moves tag-nawah-scientific tag-startups wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>CIB<\/strong> has appointed <strong>Fadhel Al Ali<\/strong> (<a href=\"https:\/\/www.marketscreener.com\/business-leaders\/Fadhel-Al-Ali-26035\/biography\/\">bio)<\/a> and <strong>Aziz Moolji<\/strong> <a href=\"https:\/\/www.linkedin.com\/in\/aziz-moolji-47170512\/\">(LinkedIn)<\/a> as <strong>non-executive <\/strong><strong>board members<\/strong>, the bank announced in a <a href=\"https:\/\/ent.news\/2022\/5\/CIB-new-UAE-board-members.pdf\">disclosure (pdf)<\/a> to the bourse yesterday. The pair will represent the interests of Alpha Oryx Ltd, a subsidiary of Abu Dhabi sovereign wealth fund ADQ, which last month <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b4a11664-2159-45ba-ba2f-bf0d3dfd3978\">purchased an 18.6% stake<\/a> in the financial institution. Al Ali is the chairman of the Dubai Financial Services Authority and was previously the deputy CEO and Group COO of First Abu Dhabi Bank. Moolji serves as ADQ\u2019s M&A and alternative investments director and was previously a vice president at Dubai Holding.<\/p>\n<p><strong>Amr Elfass<\/strong> (<a href=\"https:\/\/www.linkedin.com\/in\/amrfass\/\">LinkedIn<\/a>) has been appointed vice-president for business success at <strong>Nawah Scientific<\/strong>, the scientific research startup said in a <a href=\"https:\/\/nawah-scientific.com\/dr-amr-elfass-joins-nawah-to-lead-the-transformation-into-a-multinational-company\/\">press release<\/a> yesterday. Elfass is being tasked with transforming the startup into a multinational corporation as it makes several acquisitions, which will be announced later this year, the company said. Elfass has years of experience in the pharma sector, and has worked in companies including Janssen, Abbott Laboratories, and Innovara.<\/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\/adq\/\">ADQ<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/amr-elfass\/\">Amr Elfass<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aziz-moolji\/\">Aziz Moolji<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fadhel-al-ali\/\">Fadhel Al Ali<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nawah-scientific\/\">Nawah Scientific<\/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=\"546620\" 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=\"546620\">\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\">ENTERPRISE ON THE ROAD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/hello-from-lagos-nigeria\/\">\r\n                            Hello from Lagos, Nigeria                        <\/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\/23\/hello-from-lagos-nigeria\/\" 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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Think of Victoria Island as the Zamalek of Lagos \u2014 just a bit greener and more colorful. From the plane, we could see colorful rooftops covering the ground below.<\/p>\n<p><strong>Refresher:<\/strong> We hopped on a plane yesterday with our friend Aly Shalakany, CEO of the Cairo Angels Syndicate Fund (CASF) to explore one of Africa\u2019s biggest startup hubs. We\u2019re joined by Nawah Scientific CEO and founder Omar Shoukry and Adham Azzam, COO and co-founder of fintech player Lnddo. We\u2019re looking forward to meeting interesting startups, angel investors and VCs in the capital of Africa\u2019s largest consumer market.<\/p>\n<p><strong>As is typical for a bunch of entrepreneurs and the people who invest in them, <\/strong><strong>conversations were lively on the way over. <\/strong>Is being an angel investor an actual full-time job or not? (Definitely, if you ask Shalakany). How important are African markets to Egyptian startups looking to expand into other countries? More on that in the coming days.<\/p>\n<p><strong>Nigeria loves biometrics: <\/strong>We gave thumb prints (and biometric photos) at the airport \u2014 and again when we bought SIM cards to have internet on the go.<\/p>\n<p><strong>And it is definitely looking towards the future: <\/strong>Tomi Davies, collaborator-in-chief at TVC Labs and our chaperone, showed us around Lagos\u2019 <a href=\"https:\/\/www.ekoatlantic.com\/\">Eko Atlantic City<\/a> \u2014 or what locals like to call \u201cThe Future\u201d. The country is building a 10 mn sqm multi-use commercial center as part of a land reclamation scheme intended to protect Lagos from coastal erosion (the city\u2019s coast lies on the Atlantic Ocean). The project is a mix of public and private investment and is expected to contribute USD 1 bn to the country\u2019s economy annually, once completed, according to local media reports.<\/p>\n<p><strong>Two things we loved at the airport in Lagos:<\/strong> #1- A sign declaring \u201cWe do not condone extortion,\u201d which was accompanied by an image of two hands passing a crunched-up banknote. And #2- \u201cTouting of any kind in the nation\u2019s airports is prohibited\u201d \u2014 along with an image of a silhouette in a hoodie.<\/p>\n<p><strong>Generally, Lagos feels a lot like home.<\/strong> The highway reminds us of the Da2ery, the driving style reminds us of a typical Egyptian microbus driver, and the potholes feel the same when you blaze through them.<\/p>\n<p><strong>But the weather\u2026 <\/strong>The humidity knob seems to be turned to its maximum (see how misty it is in the image above), while the gods of rain like to keep drizzling cold drops onto earth while you walk down the street. Despite it all, it\u2019s supposed to be about 30 degrees Celsius.<\/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\/adham-azzam\/\">Adham Azzam<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aly-shalakany\/\">Aly Shalakany<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cairo-angels-syndicate-fund\/\">Cairo Angels Syndicate Fund<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-on-the-road\/\">ENTERPRISE ON THE ROAD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lnddo\/\">Lnddo<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nawah-scientific\/\">Nawah Scientific<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nigeria\/\">Nigeria<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/omar-shoukry-sakr\/\">Omar Shoukry Sakr<\/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=\"546622\" 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=\"546622\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/546622\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-546622\" class=\"content-area-description single-story post-546622 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=\"546623\" 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=\"546623\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/car-prices-monkeypox-receive-top-billing-on-the-airwaves\/\">\r\n                            Car prices + monkeypox receive top billing on the airwaves                        <\/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\/23\/car-prices-monkeypox-receive-top-billing-on-the-airwaves\/\" 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\/23\/car-prices-monkeypox-receive-top-billing-on-the-airwaves\/')\">\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\/23\/car-prices-monkeypox-receive-top-billing-on-the-airwaves\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n   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        <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Car+prices+%2B+monkeypox+receive+top+billing+on+the+airwaves+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F05%2F23%2Fcar-prices-monkeypox-receive-top-billing-on-the-airwaves%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\/23\/car-prices-monkeypox-receive-top-billing-on-the-airwaves\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-546623\" class=\"content-area-description single-story post-546623 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-consumer-protection-agency tag-enterpriseam tag-last-nights-talk-shows tag-mohamed-salah tag-monkeypox tag-sports wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Dominating the airwaves last night:<\/strong> Measures announced by the Consumer Protection Authority\u2019s (CPA) yesterday to regulate prices of new cars led the conversation on Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=63YcIxovjZA\">watch, runtime: 9:04<\/a>) and Kelma Akhira (<a href=\"https:\/\/www.youtube.com\/watch?v=XEkvVEzcAj8\">watch, runtime: 7:13<\/a>). CPA head Ayman Hossam El Din told Masaa DMC that the decision was made to protect consumer rights as it regulates the market amid surging inflation.<\/p>\n<p><strong>A monkeypox outbreak abroad also got a lot of attention:<\/strong> Ala Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=Glqrt56ybak\">watch, runtime:<\/a><a href=\"https:\/\/www.youtube.com\/watch?v=Glqrt56ybak\">32:13<\/a>), Salet El Tahrir (<a href=\"https:\/\/www.youtube.com\/watch?v=iPnTzZcUxHg\">watch, runtime: 3:37<\/a>), Kelma Akhira (<a href=\"https:\/\/www.youtube.com\/watch?v=XmgSyKgtm8g\">watch, runtime: 2:59<\/a>), and Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=wYycCU0O6ew\">watch, runtime: 7:18<\/a>) all provided updates as the outbreak spread to new countries yesterday.<\/p>\n<p><strong>Also getting a mention:<\/strong> Egypt and Liverpool\u2019s Mohamed Salah<a href=\"https:\/\/www.goal.com\/en\/news\/salah-son-win-premier-league-golden-boot-top-scorers-23\/blt34a87e50977428b3\">winning the Premier League\u2019s<\/a><a href=\"https:\/\/www.goal.com\/en\/news\/salah-son-win-premier-league-golden-boot-top-scorers-23\/blt34a87e50977428b3\">Golden Boot<\/a>for the third time earned praise from Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=iWHYdfNsl0Y\">watch, runtime: 9:32<\/a>) and Kelma Akhira (<a href=\"https:\/\/www.youtube.com\/watch?v=VPgrdOF0gm8\">watch, runtime: 0:45<\/a>). Salah shared the award with Tottenham\u2019s Son Heung-min after ending the season tied on 23 goals.<\/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\/consumer-protection-agency\/\">Consumer Protection Agency<\/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\/mohamed-salah\/\">Mohamed Salah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/monkeypox\/\">Monkeypox<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"546624\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                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<\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"546625\" 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=\"546625\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/egyptian-filmmakers-in-the-limelight-in-the-foreign-press\/\">\r\n                            Egyptian filmmakers in the limelight in the foreign press                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div 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  \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\/23\/egyptian-filmmakers-in-the-limelight-in-the-foreign-press\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-546625\" class=\"content-area-description single-story post-546625 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-abdel-fattah-el-sisi tag-ancient-egypt tag-awards tag-culture tag-enterpriseam tag-film tag-history tag-infrastructure tag-israel tag-new-administrative-capital tag-tarik-saleh tag-tv-and-film wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Egyptian filmmakers are getting rave reviews in the foreign press this morning:<\/strong> <a href=\"https:\/\/www.imdb.com\/title\/tt15452062\/\">Boy f<\/a><a href=\"https:\/\/www.imdb.com\/title\/tt15452062\/\">rom Heaven<\/a>, the new film from Egyptian-Swedish director Tarik Saleh, is earning praise in the international press for its \u201cbold\u201d depiction of corruption in Egypt, following its screening at the Cannes Film Festival (<a href=\"https:\/\/www.theguardian.com\/film\/2022\/may\/20\/boy-from-heaven-review-cannes-2022\">The Guardian<\/a> | <a href=\"https:\/\/www.indiewire.com\/2022\/05\/boy-from-heaven-review-1234727136\/\">Indiewire<\/a> | <a href=\"https:\/\/variety.com\/2022\/film\/reviews\/boy-from-heaven-review-1235272446\/\">Variety<\/a>). Meanwhile, 2021\u2019s critically-acclaimed social satire <a href=\"https:\/\/www.imdb.com\/title\/tt14805128\/\">Feathers<\/a> picked up some of the biggest awards at the <a href=\"http:\/\/acc.film\/critics-about.php\">Critics\u2019 Awards<\/a> for Arab Films, <a href=\"https:\/\/variety.com\/2022\/film\/news\/egypts-feathers-dominates-critics-awards-arab-films-1235274463\/\">Variety<\/a> reports.<\/p>\n<p><strong>Egypt\u2019s new administrative capital gets nods from several media <\/strong><strong>outlets<\/strong>, with Namibian state-run news agency <a href=\"https:\/\/neweralive.na\/posts\/egypts-us30bn-smart-city-takes-shape\">New Era<\/a><a href=\"https:\/\/neweralive.na\/posts\/egypts-us30bn-smart-city-takes-shape\"><\/a>touring the USD 45 bn city and <a href=\"https:\/\/www.globaltimes.cn\/page\/202205\/1266209.shtml\">Xinhua<\/a> running a photo essay on the central business district being built by Chinese companies. Meanwhile, <a href=\"https:\/\/www.thenationalnews.com\/mena\/2022\/05\/22\/egypts-el-sisi-defends-his-governments-spending-priorities\/\">the National<\/a> reports that President Abdel Fattah El Sisi sought to defend his government\u2019s spending record during a speech on Saturday, characterizing the bns of USD spent on infrastructure and new cities as a necessity due to the inaction of previous governments.<\/p>\n<p><strong>Also getting attention: <\/strong><\/p>\n<ul>\n<li><strong>There\u2019s more ink on the City of the Dead tombs being \u201csacrificed\u201d <\/strong>for a new highway. (<a href=\"https:\/\/www.dw.com\/en\/egypt-a-highway-through-the-city-of-the-dead\/a-61847874\">DW<\/a>)<\/li>\n<li><strong>Archaeologists uncovered a 4k-year-old tomb<\/strong>, believed to belong to a man who handled pharaonic secret documents. (<a href=\"https:\/\/www.smithsonianmag.com\/smart-news\/archaeologists-egypt-unearth-4300-year-old-tomb-of-egyptian-dignitary-who-handled-secret-documents-pharaoh-180980120\/\">Smithsonian<\/a>)<\/li>\n<li><strong>Egypt\u2019s new national dialogue <\/strong>comes under criticism. (<a href=\"https:\/\/www.haaretz.com\/middle-east-news\/.premium-egypt-and-turkey-keep-their-dictatorships-afloat-through-democratic-masquerades-1.10811927\">Haaretz<\/a>)<\/li>\n<li><strong>An Israeli orchestra played in Cairo for the first time in 40 years <\/strong>last week during the Israeli Embassy in Egypt\u2019s celebrations of Independence Day. (<a href=\"https:\/\/www.jpost.com\/j-spot\/article-707356\">Jerusalem Post<\/a> | <a href=\"https:\/\/www.i24news.tv\/en\/news\/middle-east\/north-africa\/1653217518-israeli-orchestra-plays-in-egypt-for-first-time-in-four-decades\">i24<\/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\/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\/ancient-egypt\/\">Ancient Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/awards\/\">awards<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/culture\/\">culture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/film\/\">film<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/history\/\">History<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/new-administrative-capital\/\">new administrative capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tarik-saleh\/\">Tarik Saleh<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tv-and-film\/\">TV and film<\/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=\"546626\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"546627\" 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=\"546627\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/exporters-want-more-support-as-govt-wraps-up-latest-phase-of-subsidy-program\/\">\r\n                            Exporters want more support as gov\u2019t wraps up latest phase of subsidy program                        <\/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\/23\/exporters-want-more-support-as-govt-wraps-up-latest-phase-of-subsidy-program\/\" 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 program allows exporters to receive overdue subsidies in a single payment rather than in installments over four to five years, in return for a 15% haircut.<\/p>\n<p><strong>Exporters want more support to boost exports:<\/strong> More government investment and longer installment periods for industrial plots were among the requests made by exporters during a meeting with Prime Minister Madbouly yesterday, according to <a href=\"https:\/\/bit.ly\/39NdCMN\">a cabinet statement<\/a>.<\/p>\n<p><strong>US approves USD 691 mn arms sale to Egypt:<\/strong> The US could sell Egypt USD 691 mn worth of missiles after the State Department last week approved the purchase request, the US Department of Defense said in <a href=\"https:\/\/www.dsca.mil\/press-media\/major-arms-sales\/egypt-tow-2a-radio-frequency-rf-missiles-and-support\">a statement<\/a> Thursday. The order includes 5k TOW missiles, support equipment and spare parts, as well as technical and logistical support and training.<\/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\/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\/emaar-misr\/\">Emaar Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hayah-karima\/\">Hayah Karima<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/security\/\">security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/unicef\/\">UNICEF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/water\/\">water<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"546628\" 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=\"546628\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">15<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/some-investors-are-dipping-their-toes-back-into-em\/\">\r\n                            Some investors are dipping their toes back into EM                        <\/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\/23\/some-investors-are-dipping-their-toes-back-into-em\/\" 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\/23\/some-investors-are-dipping-their-toes-back-into-em\/')\">\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\/23\/some-investors-are-dipping-their-toes-back-into-em\/\">\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=Some investors are dipping their toes back into EM&url=https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/some-investors-are-dipping-their-toes-back-into-em\/\">\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\/23\/some-investors-are-dipping-their-toes-back-into-em\/&title=Some investors are dipping their toes back into EM\">\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=Some+investors+are+dipping+their+toes+back+into+EM+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F05%2F23%2Fsome-investors-are-dipping-their-toes-back-into-em%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\/23\/some-investors-are-dipping-their-toes-back-into-em\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-546628\" class=\"content-area-description single-story post-546628 post type-post status-publish format-standard hentry category-planet-finance tag-emerging-markets tag-energy tag-enterpriseam tag-financial-markets tag-oil-and-gas tag-opec tag-pif tag-planet-finance tag-prince-alwaleed-bin-talal tag-renewables tag-russia tag-saudi-arabia tag-siemens wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-10\"><\/a> <strong>Time to buy emerging-market assets?<\/strong> Some investors are seeing buying opportunities in emerging markets despite the multifaceted risks posed by rising interest rates, heightened inflation and geopolitical uncertainty, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-05-22\/after-5-trillion-rout-emerging-markets-seek-turnaround-signal?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> reports. Some USD 5 tn has fled emerging markets over the past 15 months, making valuations more attractive to those who can stomach the risk. Some money managers tell the business newswire that, while they\u2019re not bullish on EM assets, they\u2019re willing to start slowly buying back in. \u201cWe have reduced our bearishness on the emerging-market asset class,\u201d said Paul Greer, a money manager at Fidelity International. \u201cWhile fundamentals remain very challenged, the valuations on offer, coupled with a more favorable technical picture, have meaningfully altered the near-term risk-reward asymmetry.\u201d<\/p><p><strong>Siemens Energy is bidding to fully acquire \u201cdeteriorating\u201d wind turbine unit Siemens G<\/strong><strong>amesa in a potential USD 4.3 bn transaction.<\/strong> Siemens Energy already owns 67% of the firm, but a complex ownership structure means it has been unable to get a grip on operational issues that have contributed to the company issuing three profit warnings in less than a year. (<a href=\"https:\/\/www.reuters.com\/markets\/deals\/siemens-energy-makes-bid-remaining-siemens-gamesa-stake-2022-05-21\/\">Reuters<\/a>)<\/p><p><strong>Why should Egyptians care?<\/strong> Gamesa is a major player in Egypt\u2019s wind energy sector, and is involved in the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4a43e1f2-c18f-4e84-8e37-856157017bbf\">Ras Ghareb<\/a>, <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/16\/siemens-gamesa-starts-work-on-lekelas-250-mw-west-bakr-wind-plant\/\">West Bakr<\/a>, and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fad6f28c-785f-4592-ba71-16553c77a85b\">Gabal El Zeit<\/a> projects in the Gulf of Suez.<\/p><p><strong>ALSO FROM PLANET FINANCE-<\/strong><\/p><ul>\n<li><strong>The Saudi sovereign wealth fund has acquired a USD 1.5 bn stake in Prince Alwaleed bin Talal\u2019s inve<\/strong><strong>stment firm<\/strong>, Kingdom Holding, handing the PIF a 16.9% stake in the company. The Saudi b\u2019naire and self-styled Saudi Warren Buffett \u2014 whose firm holds stakes in big tech names including Apple, Twitter, and Deezer \u2014 will retain a majority 78.1% stake in Kingdom Holding. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-05-22\/saudi-arabia-buys-1-5-billion-stake-in-prince-alwaleed-s-firm?sref=mmeFTDW1\">Bloomberg<\/a>)<\/li>\n<li><strong>Saudi Arabia has indicated it will continue to<\/strong> <strong>welcome Russia as a member of the OPEC+ alliance<\/strong> of oil producers despite Western attempts to isolate Moscow from the global economy in the wake of its invasion of Ukraine. Riyadh wants to \u201cto work out an agreement with OPEC+ . . . which includes Russia,\u201d Saudi energy minister Prince Abdulaziz bin Salman told the Financial Times. (<a href=\"https:\/\/www.ft.com\/content\/87ac05cd-d1e4-4495-8064-60d97b17f5f4\">FT<\/a>)<\/li>\n<\/ul><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>10,463<\/p>\n<\/td>\n<td>\n<p>-0.8% (YTD: -12.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 18.22<\/p>\n<\/td>\n<td>\n<p>Sell 18.31<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 18.24<\/p>\n<\/td>\n<td>\n<p>Sell 18.31<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>11.25% deposit<\/p>\n<\/td>\n<td>\n<p>12.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>12,335<\/p>\n<\/td>\n<td>\n<p>-0.8% (YTD: +9.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>9,934<\/p>\n<\/td>\n<td>\n<p>+0.9% (YTD: +17.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,393<\/p>\n<\/td>\n<td>\n<p>+0.1% (YTD: +6.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>3,901<\/p>\n<\/td>\n<td>\n<p>0.0% (YTD: -18.1%)<\/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>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,390<\/p>\n<\/td>\n<td>\n<p>+1.2% (YTD: +0.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td>\n<p>3,657<\/p>\n<\/td>\n<td>\n<p>+0.5% (YTD: -14.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 112.46<\/p>\n<\/td>\n<td>\n<p>-0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 8.03<\/p>\n<\/td>\n<td>\n<p>-0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,854.90<\/p>\n<\/td>\n<td>\n<p>+0.4%<\/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>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 30,150<\/p>\n<\/td>\n<td>\n<p>+3.7% (YTD: -35.1%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 fell 0.8% at yesterday\u2019s close<\/strong> on turnover of EGP 364 mn (57.8% below the 90-day average). Regional investors were net sellers. The index is down 12.4% YTD.<\/p><p><strong>In the green: <\/strong>EFG Hermes (+0.6%), Ibnsina Pharma (+0.4%) and Qalaa Holdings (+0.2%).<\/p><p><strong>In the red: <\/strong>Orascom Construction (-4.0%), Cleopatra Hospitals (-3.3%) and Abu Qir Fertilizers (-2.3%).<\/p><p><strong>Asian markets are mixed this morning:<\/strong> Concerns over the economic impact of China\u2019s covid-19 lockdowns sent Chinese shares lower in early trading, while other indexes in the region saw slight gains, with the Nikkei up 0.6%, the Kospi up 0.2% and the ASX 0.1% in the green. Shares in Europe and the US are on course to rise when markets open, according to the futures markets.<\/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\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/opec\/\">OPEC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pif\/\">PIF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/prince-alwaleed-bin-talal\/\">Prince Alwaleed bin Talal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/siemens\/\">Siemens<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"546629\" 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=\"546629\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">16<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/israel-wont-launch-criminal-investigation-into-murder-of-shireen-abu-akleh\/\">\r\n                            Israel won\u2019t launch criminal investigation into murder of Shireen Abu Akleh                        <\/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\/23\/israel-wont-launch-criminal-investigation-into-murder-of-shireen-abu-akleh\/\" 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\/23\/israel-wont-launch-criminal-investigation-into-murder-of-shireen-abu-akleh\/')\">\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\/23\/israel-wont-launch-criminal-investigation-into-murder-of-shireen-abu-akleh\/\">\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=Israel won\u2019t launch criminal investigation into murder of Shireen Abu Akleh&url=https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/israel-wont-launch-criminal-investigation-into-murder-of-shireen-abu-akleh\/\">\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\/23\/israel-wont-launch-criminal-investigation-into-murder-of-shireen-abu-akleh\/&title=Israel won\u2019t launch criminal investigation into murder of Shireen Abu Akleh\">\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=Israel+won%E2%80%99t+launch+criminal+investigation+into+murder+of+Shireen+Abu+Akleh+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F05%2F23%2Fisrael-wont-launch-criminal-investigation-into-murder-of-shireen-abu-akleh%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\/23\/israel-wont-launch-criminal-investigation-into-murder-of-shireen-abu-akleh\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-546629\" class=\"content-area-description single-story post-546629 post type-post status-publish format-standard hentry category-around-the-world tag-al-jazeera tag-around-the-world tag-australia tag-debt tag-emerging-markets tag-enterpriseam tag-human-rights tag-israel tag-politics tag-shireen-abu-akleh tag-sri-lanka wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Israel will not investigate the killing of veteran Al Jazeera correspondent Shireen <\/strong><strong>Abu Akleh<\/strong>, which witnesses say was committed by Israeli soldiers, the <a href=\"https:\/\/www.theguardian.com\/world\/2022\/may\/19\/israel-will-not-hold-criminal-inquiry-into-killing-of-journalist-shireen-abu-aqleh\">Guardian<\/a> reports. Despite global outcry and calls for an investigation, the IDF said that it would not open a criminal inquiry into her death because it took place in an \u201cactive combat situation\u201d though it would continue with an \u201coperational inquiry.\u201d<\/p>\n<p><strong>Also worth knowing this morning:<\/strong><\/p>\n<ul>\n<li><strong>Sri Lanka has defaulted on its debt for the first time in its history<\/strong> amid an unprecedented economic crisis. (<a href=\"https:\/\/www.bbc.com\/news\/business-61505842\">BBC<\/a>)<\/li>\n<li><strong>Australian voters have ended nine years of conservative rule<\/strong> after incumbent prime minister Scott Morrison lost the general election to Labor leader Anthony Albanese. (<a href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/australian-voters-head-polls-close-run-election-2022-05-20\/\">Reuters<\/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-jazeera\/\">Al Jazeera<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/around-the-world\/\">Around the World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/australia\/\">Australia<\/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\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/shireen-abu-akleh\/\">Shireen Abu Akleh<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sri-lanka\/\">Sri Lanka<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"546630\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27466.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into education in Egypt, from K-12 to post-secondary.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27480.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Monday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/blackboard\/\">\r\n                            Read Blackboard                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">16<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/project-profile-the-egyptian-knowledge-bank\/\">\r\n                            Project Profile- The Egyptian Knowledge Bank<\/a>\r\n                        <\/h3>\r\n                        \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/project-profile-the-egyptian-knowledge-bank\/\" 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53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"546631\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/project-profile-the-egyptian-knowledge-bank\/302-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/302.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"302.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/302.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/302.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-546630\" class=\"content-area-description post-546630 blackboard type-blackboard status-publish has-post-thumbnail hentry tag-education tag-education-ministry tag-ekb tag-enterprise-blackboard tag-enterpriseam tag-tarek-shawki wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>PROJECT PROFILE- The Egyptian Knowledge Bank (EKB):<\/strong> The Education Ministry <a href=\"https:\/\/enterprise.press\/stories\/2016\/01\/11\/ah-the-house-of-representatives\/\">in 2016 launched<\/a> the <a href=\"https:\/\/www.ekb.eg\/\">Egyptian Knowledge Bank (EKB)<\/a> \u2014 its very own online portal offering access to the archives of some 50 academic publishers along with scores of other educational materials to students, researchers and curious readers of all stripes at zero cost. The project spearheaded by now-Education Minister Tarek Shawki \u2014 at the time in his capacity as chairman of the presidential advisory council for education and scientific research \u2014 is part of the government\u2019s broader efforts to incorporate greater digitization into education and expand access to high-quality educational materials. The EKB had a hand in supporting online learning at the start of the pandemic in 2020 by offering digital content and interactive materials for students at all levels of schooling and will likely continue to grow its influence as the government\u2019s digitization drive continues to push onwards.<\/p>\n<p><strong>So who exactly gets access to the Egyptian Knowledge Bank? <\/strong>Since its inception, the EKB has been billed as a resource granting Egyptian nationals access to high-quality research and educational materials. \u201cBy providing these materials [without] charge, the knowledge bank ensures that all Egyptians, no matter what their economic circumstances, will have the tools they need to excel in their education and research,\u201d according to <a href=\"https:\/\/www.ekb.eg\/about-us\">Education Minister Tarek Shawki<\/a>. All you need to access the platform is a national ID number, which you\u2019ll use to register a new account, and an Egypt-based IP address. Even non-Egyptians are eligible for registration, provided that they are students or faculty at an Egypt-based educational institution.<\/p>\n<p><strong>What\u2019s available on the platform: <\/strong>Academic articles, e-books and videos from the likes of Nature, Elsevier, National Geographic, Scopus, Springer Ebooks and Cengage Learning e-textbooks are among the dozens of publishers and journals available on <a href=\"https:\/\/www.ekb.eg\/resources\">the EKB\u2019s online portal<\/a>. Just <a href=\"https:\/\/www.thebookseller.com\/news\/springer-nature-teams-egyptian-government-landmark-deal-1294607\">last year<\/a>, the EKB reached an agreement with Springer Nature that provides access to some 2.4k journals and paves the way for Egypt-based researchers to publish their own work through Springer \u2014 which is also set to offer no-cost editing services to Egyptian researchers looking to publish their work. <a href=\"https:\/\/www.prnewswire.com\/ae\/news-releases\/jove-partners-with-the-egyptian-knowledge-bank-ekb-to-bring-over-14-000-stem-videos-for-research-and-education-to-egyptian-citizens-301498250.html\">Earlier this year<\/a> the EKB announced a partnership agreement with the Journal of Visualized Experiments (JoVE) that would open up access to some 14k videos covering STEM-related topics.<\/p>\n<p><strong>And it's not just a resource for dense academic papers: <\/strong>Resources on EKB are broken down into several categories: Reader, scientific research, and higher education, basic education and kids. The Encyclopedia Britannica, for example, has its own kids-focused education material that helps support learning numbers, letters, and drawing through games. On Booki, <a href=\"https:\/\/www.ekb.eg\/resources?sourcesLang=en\">a separate downloadable application<\/a> offered through the platform, users can read dozens of Arabic and English-language short stories and digitized comic books. Workshops and educational events led by these independent publications are frequently organized through the portal as well. Things like how to incorporate gamification in the classroom offered by Nagwa and a Discovery Education-led workshop on how to support project based learning and design thinking are just a few <a href=\"https:\/\/www.ekb.eg\/events\">of the programs<\/a> you\u2019ll find on offer. In some instances educational institutions can even request special training tutorials be held to help students better utilize the resource.<\/p>\n<p><strong>At the height of the pandemic students came to rely on the EKB for some of their remote learning needs: <\/strong>As students were forced to <a href=\"https:\/\/enterprise.press\/blackboards\/blackboard-5\/\">shift to online learning<\/a> during the height of the pandemic in 2020, visual teaching resources like Designmate <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7ca753dc-e568-4a97-b8df-286601a330c8\">were enlisted<\/a> to support instruction while high school students were expected to rely more heavily on the EKB for keeping up with school curriculum.<\/p>\n<p><strong>But there are still some challenges facing the system: <\/strong>English and European-language papers remain the most prevalent in academic publishing, meaning that their reach and value remain limited to many in Egypt. Admittedly, this is a global challenge inherent to publishing and scientific research, but a hurdle nonetheless for the EKB which has most of its offering in the English language. The EKB says, <a href=\"https:\/\/www.ekb.eg\/faq\">according to their website<\/a>, that they are working on setting up their own translation service \u201cbased on the users\u2019 needs.\u201d<\/p>\n<p><strong>The EKB\u2019s role in Egypt\u2019s education is most likely going to continue to grow:<\/strong> Earlier this year the Supreme Council of Universities <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/340664631437297?__cft__[0]=AZX2N6M1kXLFCbN8n3H0qai560Lmn5afH5TDfzYRvTBL0gEfcrn-lpoNqcJs44Zm_K8mgWRkDo6ZBc_xg9NOlBogewn8OVFA4JosiLv4jf4FANak1u_v2si7mLXV8FF5GUZ1Mf7_g6IwXQud8WWwd7bp&__tn__=%2CO%2CP-R\">signed a cooperation agreement<\/a> with EKB to create a \u201cmanagement system\u201d for remote learning in public universities. As the Education Ministry <a href=\"https:\/\/www.al-fanarmedia.org\/2017\/05\/egypt-debates-introducing-electronic-textbooks\/\">tries to lean more heavily<\/a> into e-books and digital texts in the coming years to avoid the skyrocketing costs of printing physical books, the EKB could play an even larger role in supporting all levels of education in the country.<\/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\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education-ministry\/\">Education Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ekb\/\">EKB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tarek-shawki\/\">Tarek Shawki<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"546632\" 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\/23\/546632\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-546632\" class=\"content-area-description single-story post-546632 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 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>22-26 May (Sunday-Thursday): Davos 2022.<\/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>23-24 May (Monday-Tuesday): The International Conference on Alternative Financing Opportunities in Egypt \u2026 Towards Sustainable Financing for Development, Marriott Hotel, Zamalek.<\/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>25-26 May: (Wednesday-Thursday): Fintech gathering FIN Expo Egypt is taking place at Intercontinental Citystars, Cairo, Egypt.<\/p>\n<p>27 May-3 June (Friday-Friday): El Gouna International Squash Open 2022.<\/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>May: Egypt <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0tVd7vrVPiU1s4stMEz9YPim2puqtZxge29MGM49x8JBSycpYkwUwAKhAyHpdmdcnl?_rdc=2&_rdr\">to sign contracts for<\/a> second and third high-speed rail lines with Siemens by the end of the month.<\/p>\n<p>May: Government to announce its automotive strategy by the end of the month.<\/p>\n<p><strong>JUNE<\/strong><\/p>\n<p>1-4 June (Wednesday-Saturday): The Islamic Development Bank will hold its <a href=\"https:\/\/www.isdb.org\/news\/the-arab-republic-of-egypt-to-host-2022-annual-meetings-of-islamic-development-bank-group-in-sharm-el-sheikh\">2022 annual meetings<\/a> in Sharm El Sheikh.<\/p>\n<p>2-3 June (Thursday-Friday): Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) will hold two <a href=\"https:\/\/bit.ly\/3lB5YHK\">high-level parallel meetings<\/a> on climate action and digital transformation during IsDB\u2019s 2022 annual meetings in Sharm.<\/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>7 June (Tuesday): Technology conference <a href=\"https:\/\/www.eventbrite.com\/e\/tech-invest-4-tickets-338929546397\">Tech Invest 4<\/a> will take place at the Grand Nile Hotel in Cairo.<\/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>26\u201327 September (Monday-Tuesday): The <a href=\"https:\/\/www.awieforum.org\/\">Africa Women Innovation and Entrepreneurship Forum (AWIEF)<\/a> at the Cairo Marriott Hotel.<\/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>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>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>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":546603,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-546602","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"4dc96824-eae3-40ea-9bd9-d1d5dbdd67a2","teaser":"","photo_url":"https:\/\/ent.news\/2022\/5\/26.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>M&amp;A in food, healthcare and finance set up a heavy day for business news.  Plus: Maait warns of global food crisis - 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\/ma-in-food-healthcare-and-finance-set-up-a-heavy-day-for-business-news-plus-maait-warns-of-global-food-crisis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"M&amp;A in food, healthcare and finance set up a heavy day for business news.  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