{"id":547124,"date":"2022-06-09T04:17:47","date_gmt":"2022-06-09T04:17:47","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=547124"},"modified":"2025-12-15T21:43:06","modified_gmt":"2025-12-15T21:43:06","slug":"household-electricity-bills-could-be-about-to-rise","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/household-electricity-bills-could-be-about-to-rise\/","title":{"rendered":"Household electricity bills could be about to rise"},"content":{"rendered":"<section id=\"547126\" 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=\"547126\">\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\/06\/09\/this-morning-its-ecb-rate-day-madbouly-drums-up-investment-interest\/\">\r\n                            THIS MORNING: It\u2019s ECB rate day + Madbouly drums up investment interest                        <\/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\/06\/09\/this-morning-its-ecb-rate-day-madbouly-drums-up-investment-interest\/\" 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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Can\u2019t say we\u2019re not a little eager for that to happen.<\/p>\n<p><strong>Inflation continues to be the big theme for the day at home and abroad<\/strong>, along with key news triggers on interest rates expected.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>BUT FIRST-<\/strong> <strong>The Egypt roadshow continues:<\/strong> Prime Minister Moustafa Madbouly continued the government\u2019s push to attract new foreign investment yesterday, explaining the government\u2019s privatization plans and promoting the Egyptian economy in a meeting with some of the world\u2019s largest asset managers, according to a cabinet <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02ETp1N9CjcmCYSKMniqi2NFGEqijgJZHHHgQvshaehJFSBjqTKANfkq2t367CvPYDl\">statement<\/a>. With representatives from Fidelity Investments, Prudential Financial, Capital Group and Barclays in the audience, Madbouly pitched the economy as private sector-friendly and spoke in detail about the government\u2019s ambitions to increase private investment and roll back the state\u2019s involvement in the economy.<\/p>\n<p><strong>This marks the latest in a string of meetings from government officials<\/strong>, who have in the past two weeks met with investors from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/86e5c98f-26ec-4505-a0c3-3f85a5264bc8\">Qatar<\/a>, the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/67794c02-4c1b-4d65-867d-863f039e6ccd\">UAE<\/a>, the US, France and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f6da0c69-9796-4dd2-8374-065449b7093f\">Poland<\/a>, in a push to lure new investment into the country and promote the government\u2019s economic reforms and Egypt as an investment destination.<\/p>\n<p><strong>THE BIG STORY here at home: Are we expected to see a hike in electricity prices next month? <\/strong>If we go by the government\u2019s scheduled plan to phase out subsidies, then yes. We break down what to expect in the newswell below.<\/p>\n<p><strong>Meanwhile,<\/strong> <strong>the government\u2019s drive to keep our supply of key commodities got a shot in the arm, <\/strong>as it has extended its ban on exports of wheat and other staple foods, while the Agriculture Ministry has announced plans to further grow our local wheat harvests.<\/p>\n<p><strong>THE BIG STORY ABROAD- <\/strong><strong>UN puts world on mass hunger alert as talks on Black Sea grain agreement collapse<\/strong>: Hundreds of mns of people worldwide face \u201chunger and destitution\u201d over blocked Ukrainian grain, UN Chief Ant\u00f3nio Guterres has warned, according to the <a href=\"https:\/\/www.ft.com\/content\/5946a436-b27c-49b2-8ced-470442a03e86\">Financial Times<\/a>. Talks between Russia and Turkey on a potential corridor to transport Ukrainian wheat out of the country\u2019s blockaded ports ended without an agreement yesterday, according to the <a href=\"https:\/\/www.wsj.com\/articles\/russia-turkey-hold-high-stakes-talks-on-safe-passage-for-ukraines-grain-11654677099\">Wall Street Journal<\/a>. At least 20 mn tonnes of grain are trapped in Ukraine.<\/p>\n<p><strong>An agreement was \u201cessential for hundreds of mns of people in developing countries<\/strong>, including in sub-Saharan Africa,\u201d Guterres said, adding that the crisis \u201cis threatening to unleash an unprecedented wave of hunger and destitution, leaving social and economic chaos in its wake.\u201d<\/p>\n<p><strong>MEANWHILE- <\/strong><strong>The OECD has become the latest economic body to warn of <\/strong><strong>storm clouds <\/strong><strong>gathering<\/strong>, forecasting a \u201csharp\u201d slowdown of global growth this year on the back of Russia\u2019s war in Ukraine and covid lockdowns in China and the resulting inflation. In <a href=\"https:\/\/www.oecd.org\/economic-outlook\/\">a new report<\/a> out yesterday, it revised downwards its 2022 global growth forecast to 3% from 4.5%, and projected GDP to fall further to 2.75% next year. The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/574f49fa-99a1-4301-a7aa-2ecc3d47a636\">World Bank on Tuesday downgraded<\/a> its global growth forecast by nearly a third to 2.9% for the year and warned of an impending 1970s-style bout of stagflation.<\/p>\n<p><strong>On the plus side: The OECD said that inflation should start to abate by next year<\/strong> if supply chains normalize and commodity prices fall back. That\u2019s a big \u2018if\u2019 right now, as a quick glance at this morning\u2019s Planet Finance section will attest.<\/p>\n<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<\/p><\/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    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>MARKET WATCH- <\/strong><\/p>\n<p><strong>US gas futures fell more than 6% overnight following an explosion at one of <\/strong><strong>the country\u2019s key LNG export terminals, <\/strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-08\/us-natural-gas-prices-plunge-after-fire-at-texas-lng-terminal?sref=mmeFTDW1\">Bloomberg<\/a> reports. No one was injured in the incident, but it will trigger a three-week closure at the terminal \u2014 which is one of only seven such facilities in the US and processes as much as 20% of the country\u2019s LNG, according to <a href=\"https:\/\/www.reuters.com\/business\/energy\/explosion-hits-freeport-lng-plant-us-natgas-prices-plunge-2022-06-08\/\">Reuters<\/a>.<\/p>\n<p><strong>Hold up \u2013 why is the fire sending US prices down? <\/strong>Because the loss of the terminal will hobble LNG exports, meaning more supply will be redirected to the US market.<\/p>\n<p><strong>Europe won\u2019t like waking up to this news:<\/strong> Expect the European and Asian markets to respond to this knock to LNG supply from the US. It\u2019s bad news for Europe in particular, which is already struggling with some serious supply issues as it looks to wean itself off Russian gas.<\/p>\n<p><strong>HAPPENING TODAY- <\/strong><\/p>\n<p><strong>It\u2019s interest rate day for the ECB: <\/strong>The European Central Bank will likely call in a \u201cnew era of monetary policy\u201d at its meeting today, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-07\/ecb-will-herald-new-policy-era-with-rate-path-to-fight-inflation\">Bloomberg<\/a>reports, as analysts expect the bank to start winding down its pandemic-era stimulus and start on the path to tightening to combat surging inflation.<\/p>\n<p><strong>Next up, the Fed: <\/strong>The US Federal Reserve is \u201call but certain\u201d to hike interest rates by another 50 bps when it meets midway through next week, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-06\/fed-delivers-fuzzier-rate-message-as-it-gauges-impact-of-hikes\">Bloomberg<\/a> writes, continuing the tightening cycle that the central bank <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce4db9f1-f3dc-4b99-966b-8fd3f4bb5dfc\">embarked on<\/a> in May with a 50-bps hike (its biggest since 2000).<\/p>\n<p><strong>The Central Bank of Egypt holds its policy meeting<\/strong> on Thursday, 23 June.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Here at home, the <\/strong><strong><a href=\"https:\/\/digitransformationsummit.com\/egypt\/\">Digital Transformation Summit<\/a><\/strong><strong> gets underway today,<\/strong> bringing together public and private sector players in the tech industries to share and discuss views on the current landscape of the market, recent tech innovations, and proposed strategies.<\/p>\n<p><strong>Other conferences worth keeping an eye on this month: <\/strong><\/p>\n<ul>\n<li><strong><a href=\"https:\/\/ent.news\/2022\/5\/ER2FOOD-Event-Agenda-240522.pdf\">The EU-Egypt Sustainable Food Value Chain<\/a><\/strong><strong> conference<\/strong>, which will take place at Grand Nile Tower Hotel next Thursday.<\/li>\n<li><strong><a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/298129062496947\">The Aswan Forum for Sustainable Peace and Development<\/a><\/strong>,will take place in Cairo later this month on <strong>21-22 June (Tuesday-Wednesday). <\/strong><\/li>\n<li><strong>The <\/strong><strong><a href=\"https:\/\/ent.news\/2022\/6\/Press-Release-The-Big-5-Construct-Egypt-exhibition-returns-in-June-with-the-participation-of-the-Egyptian-Armed-Forces-Engineering-Authority.pdf\">Big 5 Construct Egypt (pdf)<\/a><\/strong><strong> construction industry exhibition <\/strong>runs from 25-27 June at the Egypt International Exhibition Center (EIEC) in Cairo. <\/li>\n<\/ul>\n<p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>El Sisi\u2019s national dialogue kicks off in July: <\/strong>The national dialogue of various political leanings called for by President Abel Fattah El Sisi will start in the first week of July, according to a <a href=\"https:\/\/bit.ly\/3aQ5jQN\">statement<\/a> from the dialogue\u2019s organizers. Journalists\u2019 Syndicate Head Diaa Rashwan was named general coordinator of the dialogue, and will be tasked with negotiating with political and union powers and other participating parties to form a 15-member board of trustees for the initiative. The dialogue is set to include \u201cthe largest possible number\u201d of societal representatives and \u201cdefine the priorities of the new republic,\u201d its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/10889140-9e9b-45a5-a69c-4a5ef4e052b6\">organizers have said<\/a>.<\/p>\n<p><strong>NEWS TRIGGERS you\u2019ll want to keep an eye on this month:<\/strong><\/p>\n<ul>\n<li><strong>Inflation figures for May <\/strong>are due out on Saturday, 11 June (from state statistics agency Capmas) and Sunday, 12 June (central bank figures);<\/li>\n<\/ul>\n<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>\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\/asset-management\/\">asset management<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fdi\/\">FDI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moustafa-madbouly\/\">Moustafa Madbouly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/odessa\/\">Odessa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ukraine\/\">Ukraine<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"547127\" 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=\"547127\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/547127\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547127\" class=\"content-area-description single-story post-547127 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/somabay.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/Soma-Bay-Miss-Elite-1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n<p>Miss Elite will be kicking off its second edition at Somabay from 3-11 June. The international beauty pageant helps contestants showcase and present their nation\u2019s identity, beauty, culture, tradition and ethnicity.<\/p>\n<p>For more information, visit: <a href=\"https:\/\/misseliteworld.com\/\">https:\/\/misseliteworld.com\/<\/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=\"547128\" 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=\"547128\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/more-inflation-coming-our-way\/\">\r\n                            More inflation coming our way                        <\/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\/06\/09\/more-inflation-coming-our-way\/\" 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\/06\/09\/more-inflation-coming-our-way\/')\">\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\/06\/09\/more-inflation-coming-our-way\/\">\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=More inflation coming our way&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/more-inflation-coming-our-way\/\">\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\/06\/09\/more-inflation-coming-our-way\/&title=More inflation coming our way\">\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=More+inflation+coming+our+way+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F09%2Fmore-inflation-coming-our-way%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\/06\/09\/more-inflation-coming-our-way\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/209.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"547129\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/more-inflation-coming-our-way\/209-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/209.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"209.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/209.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/209.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547128\" class=\"content-area-description single-story post-547128 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-electricity tag-energy tag-enterpriseam 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-02\"><\/a> <strong>Could household electricity bills rise from 1 July?<\/strong> Households could see their electricity bills rise by as much as 21% from 1 July, according to the government\u2019s 2020 <a href=\"https:\/\/ent.news\/2020\/6\/%D8%A7%D9%84%D9%85%D8%A4%D8%AA%D9%85%D8%B1-%D8%A7%D9%84%D8%B5%D8%AD%D9%81%D9%89-%D9%84%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A1-%D9%84%D9%84%D8%AE%D9%85%D8%B3-%D8%B3%D9%86%D9%88%D8%A7%D8%AA-%D8%A7%D9%84%D9%82%D8%A7%D8%AF%D9%85%D8%A9-9-6-2020-1.pdf\">schedule (pdf)<\/a> to phase out subsidies by 2025. According to the schedule, hikes in some unsubsidized consumption tiers will see other households pay as much as 6% more.<\/p>\n<p><strong>We\u2019ve yet to hear of any official confirmation that this will go down<\/strong>, but sources we\u2019ve spoken with tell us that this is likely to happen.<\/p>\n<p><strong>REMEMBER- Subsidies were fully lifted<\/strong> for households who consume more than 650 KWh\/month in FY 2020-2021.)<\/p>\n<p><strong>Some businesses will also see a small increase<\/strong> as the rate on the 0-250 KWh band rises 2.5% to EGP 1.23\/KWh. All other tiers will remain frozen at current rates through FY 2022-2023.<\/p>\n<p><strong>The new tariff for subsidized households:<\/strong><\/p>\n<ul>\n<li>The first 0-50 KWh\/month will be charged EGP 0.58\/KWh, <strong>up 21%<\/strong>. Households in this tier will pay up to EGP 29 a month;<\/li>\n<li>The next 51-100 KWh\/month at EGP 0.68 \/ KWh, <strong>up 17%<\/strong>. Households in this tier will pay up to EGP 63 a month;<\/li>\n<li>The next 101-200 KWh\/month at EGP 0.83 \/ KWh, <strong>up 8%<\/strong>. Households in this tier will pay up to EGP 146 a month;<\/li>\n<li>The next 201-350 KWh\/month at EGP 1.11 \/ KWh, <strong>up 5%<\/strong>. Households in this tier will pay up to EGP 312.5 a month;<\/li>\n<li>The next 351-650 KWh\/month at EGP 1.31 \/ KWh, <strong>up 2%<\/strong>. Households in this tier will pay up to EGP 771 a month.<\/li>\n<\/ul>\n<p><strong>Some unsubsidized households will also see prices rise: <\/strong>Those consuming 651-999 KWh a month will be charged a flat rate of EGP 1.36\/ KWh on their entire usage, up from EGP 1.28 currently. Households using this much energy are expected to be charged up to EGP 1,359 a month (based on an average consumption rate measured by the government), up from EGP 1,279 in the current fiscal year. Those consuming more than 1,000 KWh per month will continue to be charged the same EGP 1.45 \/ KWh rate.<\/p>\n<p><strong>Subsidies will be fully lifted by 2025:<\/strong> The government will continue to gradually withdraw subsidies over the next three years, according to <a href=\"https:\/\/bit.ly\/3mpqkV3\">a new timetable (pdf)<\/a> mapped out by the Electricity Ministry in 2019.<\/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\/electricity\/\">electricity<\/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\/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=\"547130\" 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=\"547130\">\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\">Commodities<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/of-export-bans-and-self-reliance\/\">\r\n                            Of export bans and self reliance                        <\/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\/06\/09\/of-export-bans-and-self-reliance\/\" 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\/06\/09\/of-export-bans-and-self-reliance\/')\">\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\/06\/09\/of-export-bans-and-self-reliance\/\">\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=Of export bans and self reliance&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/of-export-bans-and-self-reliance\/\">\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\/06\/09\/of-export-bans-and-self-reliance\/&title=Of export bans and self reliance\">\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=Of+export+bans+and+self+reliance+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F09%2Fof-export-bans-and-self-reliance%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\/06\/09\/of-export-bans-and-self-reliance\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/210.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"547131\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/of-export-bans-and-self-reliance\/210-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/210.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"210.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/210.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/210.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547130\" class=\"content-area-description single-story post-547130 post type-post status-publish format-standard has-post-thumbnail hentry category-commodities tag-agriculture tag-agriculture-ministry tag-commodities tag-el-sayed-el-quseir tag-enterpriseam tag-wheat wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>No staple food exports for another three months as we look to raise local harvests:<\/strong> The Trade Ministry has extended by three months its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b0de30ab-61c5-41f0-a91f-f7ffd44cecd4\">March<\/a> ban on exports of wheat, flour, corn, lentils, pasta, fava beans, and vegetable oils, the state-owned <a href=\"https:\/\/bit.ly\/3aIr6cT\">MENA news agency<\/a> reports.<\/p>\n<p><strong>Exports of any \u201cexcess\u201d supplies of the listed goods could go ahead<\/strong> following Trade Ministry approval, according to the decision.<\/p>\n<p><strong>This comes as t<\/strong><strong>he Agriculture Ministry wants local wheat production to account for<\/strong><strong> 65% of our annual consumption needs by 202<\/strong><strong>5<\/strong>, Agriculture Minister El Sayed El Quseir said at a press conference yesterday following the Madbouly cabinet\u2019s weekly meeting. This confirms the target <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/99bcdf1a-6d9d-43f8-859d-76620abeb2fe\">announced earlier<\/a> by Planning Minister Hala El Said.<\/p>\n<p><strong>More incentives for farmers?<\/strong> El Quseir said that the government would introduce fresh incentives next harvest season, without specifying what they could be. \u201cDue to the global commodity supply crunch the Russia-Ukraine war caused, the government is focusing on providing local wheat farmers with the necessary incentives and facilities to increase wheat cultivation areas and crop yields,\u201d he said.<\/p>\n<p><strong>Cheaper fertilizer is in the frame: <\/strong>Cabinet spokesperson Nader Saad had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c9382282-35a8-4bc8-8610-77361fd68e71\">previously said<\/a> that wheat farmers could be getting some help with new subsidized fertilizer prices, after people in the industry said that the surging price of fertilizers is one of the key impediments for Egyptian farmers.<\/p>\n<p><strong>Land reclamation is also a key focus:<\/strong> \u201cWe plan to reclaim large parts of the North Sinai desert for wheat cultivation, and will soon announce details on a North and Middle Sinai agricultural development project,\u201d El Quseir said. President Abdel Fattah El Sisi <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c426c2ca-ac16-497d-8838-4408a584de7d\">also recently inaugurated<\/a> a 1.5 mn feddan land reclamation project in the New Delta, dubbed Egypt\u2019s Future, which will be used to grow wheat, corn, and other crops.<\/p>\n<p><strong>Wheat isn\u2019t the only commodity whose supply we\u2019re localizing:<\/strong> Egypt has already reached self-sufficiency in vegetable, cheese, milk, and poultry production, and \u201cwe\u2019re about to achieve sugar self-sufficiency,\u201d the minister said.<\/p>\n<p><strong>Refresher:<\/strong> The export ban on key staples as well as our drive to shore up local production comes as part of measures to shore up supplies after Russia\u2019s invasion of Ukraine threw global food markets into turmoil. This comes as the government is raising local wheat prices by 22% as part of a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/29183830-0b02-47ca-9b6f-7227de89b93e\">raft of measures<\/a> to incentivize farmers to increase production. It also introduced a minimum selling quota to the state and tightened restrictions on sales to non-state actors.<\/p>\n<p><strong>HARVEST SEASON UPDATE- <\/strong><\/p>\n<p><strong>The Madbouly government has so far procured 3.7 mn tons of local wheat<\/strong> out of its total 6 mn-tonne target since the start of the harvest season, El Quseir said. The harvest season ends in August. <strong>\u201c<\/strong>This is a good harvest and we\u2019re still going to receive more before the end of the season,\u201d he said.<\/p>\n<p><strong>No major change in reserves: <\/strong>Our wheat reserves are sufficient to last till the end of the year, a Supply Ministry official told <a href=\"https:\/\/www.reuters.com\/markets\/commodities\/egypts-strategic-wheat-reserves-sufficient-until-end-this-year-supply-ministry-2022-06-08\/\">Reuters<\/a> yesterday, nearly two weeks after Supply Minister Ali El Moselhy <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b942fd02-9eaa-4563-87e3-f3b7b635eb0b\">said our reserves<\/a> would last until January 2023.<\/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\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/agriculture-ministry\/\">Agriculture Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/el-sayed-el-quseir\/\">El Sayed El Quseir<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"547132\" 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=\"547132\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/earnings-watch-idh\/\">\r\n                            Earnings watch: IDH                        <\/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\/06\/09\/earnings-watch-idh\/\" 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\/06\/09\/earnings-watch-idh\/')\">\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\/06\/09\/earnings-watch-idh\/\">\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=Earnings watch: IDH&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/earnings-watch-idh\/\">\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\/06\/09\/earnings-watch-idh\/&title=Earnings watch: IDH\">\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=Earnings+watch%3A+IDH+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F09%2Fearnings-watch-idh%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\/06\/09\/earnings-watch-idh\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547132\" class=\"content-area-description single-story post-547132 post type-post status-publish format-standard hentry category-earnings-watch tag-earnings tag-earnings-watch tag-enterpriseam tag-healthcare tag-integrated-diagnostics-holding 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> Integrate<\/strong><strong>d Diagnostics Holding (IDH) saw its bottom line fall 8% y-o-y<\/strong> in 1Q 2022 due to rising sales costs, according to its latest <a href=\"https:\/\/ent.news\/2022\/6\/IDH-1Q2022-ER-E-FINAL-2.pdf\">earnings release (pdf)<\/a>. The medical diagnostics company reported net income of EGP 314 mn during the quarter, down from EGP 342 mn in 1Q2021.<\/p>\n<p><strong>Meanwhile, revenues rose 5% to EGP 1.18 bn despite a fall in covid-related income.<\/strong> And while revenues in Egypt fell 4% to EGP 879 mn, they still accounted for 79% of its net sales.<\/p>\n<p><strong>Conventional business is growing, offsetting falling demand and lower prices for IDH\u2019s covid-related services,<\/strong> the company noted. The company reported an 8% increase in conventional test net sales, which brought in EGP 640 mn during the quarter and accounted for 57% of the company\u2019s net sales. This offset a drop in covid related-revenues, which fell 11% to EGP 477 mn on declining prices and falling demand. As a result, net sales fell 1% from a year ago.<\/p>\n<p><strong>Riding out the storm: <\/strong>IDH has locked in stock at pre-devaluation rates until the end of June, and said it would \u201ccontinue to leverage our long-lasting relationships with test kit providers to secure additional stock at competitive prices, shielding our business from the impacts of rising inflation and the EGP devaluation.\u201d<\/p>\n<p><strong>IDH forecasts strong revenue growth this year despite challenges:<\/strong> The company is facing \u201cdifficult operating conditions\u201d due to the spillover effects of the Ukraine war, the EGP devaluation and the pandemic, it said, but is still forecasting 18-20% revenue growth this year.<\/p>\n<p><strong>More expansion to come:<\/strong> Having added another 37 branches over the past year, IDH is looking to open at least two more branches in Egypt in the coming months and is awaiting regulatory approvals to begin their entry into Pakistan through <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cd562dbe-d647-49dc-95b7-9a5e94966c90\">the acquisition<\/a> of Islamabad Diagnostic Centre.<\/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\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/integrated-diagnostics-holding\/\">Integrated Diagnostics Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"547133\" 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=\"547133\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/547133\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547133\" class=\"content-area-description single-story post-547133 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.moharrampartners.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/enterprisetest.wpengine.com\/wp-content\/uploads\/2022\/05\/MP-Logo-Bilingual-Print-Landscape-Color-1200.png?ssl=1\" alt='enterprise'><\/a><\/p>\n<p>Struggling to make sense of a new regulatory development? Eager to engage on a new piece of legislation or policy that could impact operations? Or simply want to sit down with government stakeholders to pitch a partnership that could unlock value for your business?<\/p>\n<p>Get in touch with Moharram & Partners \u2014 the public policy and government affairs partner of choice of top companies operating in Egypt and the region \u2014 and leave the rest to our experts.<\/p>\n<p>Learn more <a href=\"https:\/\/www.moharrampartners.com\/\">here<\/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=\"547134\" 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=\"547134\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/consumer-lender-adva-closes-six-figure-round\/\">\r\n                            Consumer lender Adva closes six-figure round                        <\/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\/06\/09\/consumer-lender-adva-closes-six-figure-round\/\" 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\/06\/09\/consumer-lender-adva-closes-six-figure-round\/')\">\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\/06\/09\/consumer-lender-adva-closes-six-figure-round\/\">\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=Consumer lender Adva closes six-figure round&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/consumer-lender-adva-closes-six-figure-round\/\">\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\/06\/09\/consumer-lender-adva-closes-six-figure-round\/&title=Consumer lender Adva closes six-figure round\">\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=Consumer+lender+Adva+closes+six-figure+round+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F09%2Fconsumer-lender-adva-closes-six-figure-round%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\/06\/09\/consumer-lender-adva-closes-six-figure-round\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547134\" class=\"content-area-description single-story post-547134 post type-post status-publish format-standard hentry category-startup-watch tag-adva tag-enterpriseam tag-sawari-ventures tag-startup-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a><strong> Consumer finance startup <\/strong><strong><a href=\"https:\/\/advaeg.com\/en\/\">Adva<\/a><\/strong><strong> closed a USD six-figure seed round <\/strong>funded entirely by <a href=\"https:\/\/sawariventures.com\/\">Sawari Ventures<\/a>, it said in a <a href=\"https:\/\/ent.news\/2022\/6\/ADVA_PRL-Eng-.pdf\">statement<\/a><a href=\"https:\/\/ent.news\/2022\/6\/ADVA_PRL-Eng-.pdf\">(<\/a><a href=\"https:\/\/ent.news\/2022\/6\/ADVA_PRL-Eng-.pdf\">pdf<\/a><a href=\"https:\/\/ent.news\/2022\/6\/ADVA_PRL-Eng-.pdf\">)<\/a> yesterday.<\/p>\n<p><strong>About Adva: <\/strong>Founded in 2020, the startup offers buy-now pay-later (BNPL) financing for services including education and healthcare, and has plans to expand to cover wedding parties, car maintenance, ins. and travel.<\/p>\n<p><strong>Where the money\u2019s going:<\/strong> The capital will go towards expanding the company\u2019s operations across Egypt and to develop its product and tech stack, CEO Rania Gaafar told Enterprise.<\/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\/adva\/\">Adva<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sawari-ventures\/\">Sawari Ventures<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"547135\" 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=\"547135\">\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\">Kudos<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/egypts-top-listed-companies-according-to-forbes\/\">\r\n                            Egypt\u2019s top listed companies, according to Forbes                        <\/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\/06\/09\/egypts-top-listed-companies-according-to-forbes\/\" 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\/06\/09\/egypts-top-listed-companies-according-to-forbes\/')\">\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\/06\/09\/egypts-top-listed-companies-according-to-forbes\/\">\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=Egypt\u2019s top listed companies, according to Forbes&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/egypts-top-listed-companies-according-to-forbes\/\">\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\/06\/09\/egypts-top-listed-companies-according-to-forbes\/&title=Egypt\u2019s top listed companies, according to Forbes\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt%E2%80%99s+top+listed+companies%2C+according+to+Forbes+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F09%2Fegypts-top-listed-companies-according-to-forbes%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\/06\/09\/egypts-top-listed-companies-according-to-forbes\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547135\" class=\"content-area-description single-story post-547135 post type-post status-publish format-standard hentry category-kudos tag-cib tag-elsewedy-electric tag-enterpriseam tag-forbes tag-kudos tag-qnb-alahli tag-talaat-moustafa-group tag-telecom-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Forbes Middle East is o<\/strong><strong>ut with a new list ranking Egypt\u2019s top listed companies:<\/strong> Taking into account market cap, sales, assets, and income, the business magazine has ranked Egypt\u2019s 50 most valuable and highest-earning listed companies. The banking and financial services sector dominated the list with 16 companies, while eight firms were in the real estate sector and seven in the industrial sector. The top five are:<\/p>\n<ul>\n<li><strong>CIB<\/strong><\/li>\n<li><strong>QNB Alahli<\/strong><\/li>\n<li><strong>Telecom Egypt<\/strong><\/li>\n<li><strong>Elsewedy Electric<\/strong><\/li>\n<li><strong>Talaat Moustafa Group.<\/strong><\/li>\n<\/ul>\n<p><strong>The top three firms also made Forbes\u2019 MENA-wide list: <\/strong>CIB came in at #39 in the region, QNB Alahli was #63, and Telecom Egypt was #83. Topping the regional ranking were Saudi Aramco, SABIC, and QNB Group.<\/p>\n<p>Check the full local list <a href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-50-listed-companies-in-egypt-2022\/\">here<\/a>, and the MENA-wide ranking <a href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-100-listed-companies-2022\/\">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\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/elsewedy-electric\/\">Elsewedy Electric<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/forbes\/\">Forbes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kudos\/\">KUDOS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qnb-alahli\/\">QNB Alahli<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/talaat-moustafa-group\/\">Talaat Moustafa Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/telecom-egypt\/\">Telecom Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"547136\" 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=\"547136\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/547136\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547136\" class=\"content-area-description single-story post-547136 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/www.sodic.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/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=\"547137\" 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=\"547137\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/last-nights-talk-shows-customs-tariffs-land-nilesat-launches\/\">\r\n                            Last Night\u2019s Talk Shows: Customs tariffs land + Nilesat launches                        <\/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\/06\/09\/last-nights-talk-shows-customs-tariffs-land-nilesat-launches\/\" 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\/06\/09\/last-nights-talk-shows-customs-tariffs-land-nilesat-launches\/')\">\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\/06\/09\/last-nights-talk-shows-customs-tariffs-land-nilesat-launches\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Last Night\u2019s Talk Shows: Customs tariffs land + Nilesat launches&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/last-nights-talk-shows-customs-tariffs-land-nilesat-launches\/\">\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\/06\/09\/last-nights-talk-shows-customs-tariffs-land-nilesat-launches\/&title=Last Night\u2019s Talk Shows: Customs tariffs land + Nilesat launches\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Last+Night%E2%80%99s+Talk+Shows%3A+Customs+tariffs+land+%2B+Nilesat+launches+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F09%2Flast-nights-talk-shows-customs-tariffs-land-nilesat-launches%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\/06\/09\/last-nights-talk-shows-customs-tariffs-land-nilesat-launches\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547137\" class=\"content-area-description single-story post-547137 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-customs-tariffs tag-enterpriseam tag-last-nights-talk-shows tag-space-x tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>No one story dominated the talking heads\u2019 agendas last night. <\/strong><\/p>\n<p><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a7e87c52-f3e1-49dd-93ae-3d18b8287074\">Amendments to customs tariffs<\/a><\/strong><strong> approved this week by the House of Representatives will be a boon for the localization of the automobile industry, <\/strong>allowing it to compete with leading markets like Morocco and South Africa, FinMin customs advisor Magdy Abdel Aziz said in a phone call to Ala Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=IOPIi9f1B6w\">watch, runtime: 19:22<\/a>).<\/p>\n<p><strong>SpaceX yesterday launched Nilesat\u2019s satellite from Cape Canaveral<\/strong>, sending it into orbit where it will provide TV broadcasting and internet services to Egypt and other parts of Africa and the Middle East. Built by Thales in France, Nilesat 301 will replace the 201 satellite when it expires in 2028. The story got coverage from Yahduth Fi Masr (<a href=\"https:\/\/www.youtube.com\/watch?v=ND3pOM6ik1k\">watch, runtime: 1:22<\/a>), while SpaceX live streamed the launch (<a href=\"https:\/\/www.youtube.com\/watch?v=UpCZu89zb5Y\">watch, runtime: 49:39<\/a>).<\/p>\n<p><strong>More measures to lure tourists? <\/strong>Prime Minister Mostafa Madbouly has asked the tourism and civil aviation ministers to draw up a proposal for new low-cost flights and other incentives to boost inbound tourism amid the fallout from the crisis in Ukraine. Mas\u2019a DMC had the details (<a href=\"https:\/\/www.youtube.com\/watch?v=qVbq75TMZLI\">watch, runtime: 0:43<\/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\/customs-tariffs\/\">Customs tariffs<\/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\/space-x\/\">Space X<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"547138\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column 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src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-8uwtqia\" data-v=\"4\" data-block-id=\"8uwtqia\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-8uwtqia-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-8uwtqia-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 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class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"547139\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/egypt-in-the-news-one-ugly-dinosaur\/\">\r\n                            Egypt in the News: One ugly dinosaur                        <\/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\" 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              <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/egypt-in-the-news-one-ugly-dinosaur\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/212.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"547140\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/egypt-in-the-news-one-ugly-dinosaur\/212-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/212.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"212.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/212.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/212.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547139\" class=\"content-area-description single-story post-547139 post type-post status-publish format-standard has-post-thumbnail hentry category-egypt-in-the-news tag-enterpriseam tag-prehistory wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Dogosaurus:<\/strong> The foreign press is getting excited about the remains of a dinosaur with a face like a bulldog, unearthed in Egypt's Western Desert (<a href=\"https:\/\/www.independent.co.uk\/world\/dinosaur-egypt-bahariya-abelisaurids-b2096767.html\">The Independent<\/a> | <a href=\"http:\/\/www.sci-news.com\/paleontology\/bahariya-abelisaur-10885.html\">Sci News<\/a> | <a href=\"https:\/\/www.thenationalnews.com\/mena\/egypt\/2022\/06\/08\/carnivorous-dinosaur-similar-to-t-rex-discovered-in-egypts-western-desert\/\">The National<\/a> | <a href=\"https:\/\/www.dailymail.co.uk\/sciencetech\/article-10893459\/Bizarre-bulldog-faced-dinosaur-unearthed-Egypt.html\">Daily Mail<\/a>). Other than that, it\u2019s another no-news day for mentions of Egypt internationally<\/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\/prehistory\/\">Prehistory<\/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=\"547141\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"547142\" 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=\"547142\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/another-gas-discovery-for-british-sdx-in-south-disouq\/\">\r\n                            Another gas discovery for British SDX in South Disouq                        <\/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\/06\/09\/another-gas-discovery-for-british-sdx-in-south-disouq\/\" 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\/06\/09\/another-gas-discovery-for-british-sdx-in-south-disouq\/')\">\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\/06\/09\/another-gas-discovery-for-british-sdx-in-south-disouq\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Another gas discovery for British SDX in South Disouq&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/another-gas-discovery-for-british-sdx-in-south-disouq\/\">\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\/06\/09\/another-gas-discovery-for-british-sdx-in-south-disouq\/&title=Another gas discovery for British SDX in South Disouq\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Another+gas+discovery+for+British+SDX+in+South+Disouq+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F09%2Fanother-gas-discovery-for-british-sdx-in-south-disouq%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\/06\/09\/another-gas-discovery-for-british-sdx-in-south-disouq\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547142\" class=\"content-area-description single-story post-547142 post type-post status-publish format-standard hentry category-also-on-our-radar tag-2027 tag-also-on-our-radar tag-energy tag-enterpriseam tag-healthcare tag-infrastructure tag-new-administrative-capital tag-oil-and-gas tag-pharma tag-sdx-energy wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>SDX strikes more gas: <\/strong>UK-based SDX Energy has made its largest gas discovery yet at its South Disouq concession after drilling its third and final exploration well, it said in <a href=\"https:\/\/ent.news\/2022\/6\/GAS-DISCOVERY-AT-MA-1X-WELL-IN-SOUTH-DI...pdf\">a disclosure to the London Stock Exchange (pdf)<\/a> yesterday. This follows <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6e26dd66-3e96-41fd-8593-4f6b5c6a27b0\">another discovery in March<\/a>, which is set to start contributing to production this month.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>New capital officially part of Cairo: <\/strong>Cabinet signed off on an Ittihadiya decision to expand Cairo governorate to include the new administrative capital to comply with the constitutional requirement that the seat of government \u2014 including the House of Representatives and Senate \u2014 be located in the capital. (<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/422061983297561\">Statement<\/a>)<\/li>\n<li><strong>19011 goes bankrupt:<\/strong> The Cairo Economic Court declared Alpha Pharmacy Management Group \u2014 the owner of pharma chain 19011 \u2014 bankrupt after it failed to pay debt owed to banks and pharma distributors. (<a href=\"https:\/\/bit.ly\/39iHxwb\">Al Borsa<\/a>)<\/li>\n<li><strong>Stepping closer to GREGY: <\/strong>The Egyptian Electricity Transmission Company (EETC) will this year complete studies on renewable energy player Elica\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cb41cd3c-8caa-4f64-8682-be3dbf55dd71\">proposal to link our electricity grid<\/a> with Greece. (<a href=\"https:\/\/bit.ly\/39fQVRn\">Al Borsa<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/19011\/\">19011<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/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\/oil-and-gas\/\">oil and gas<\/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\/sdx-energy\/\">SDX Energy<\/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=\"547143\" 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=\"547143\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/the-only-way-is-up-for-oil-us-regulator-proposes-changes-to-retail-trading-and-draws-the-ire-of-wall-st\/\">\r\n                            The only way is up for oil + US regulator proposes changes to retail trading \u2014 and draws the ire of Wall St                        <\/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\/06\/09\/the-only-way-is-up-for-oil-us-regulator-proposes-changes-to-retail-trading-and-draws-the-ire-of-wall-st\/\" 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 energy markets have reached a \u201ccritical\u201d state and oil could soon turn \u201cparabolic\u201d as the market undergoes its biggest reconfiguration in decades, Jeremy Weir said at a <a href=\"https:\/\/www.ft.com\/content\/a6e7fdb3-be01-4473-9eee-2e496a3dda82\">Financial Times<\/a> conference. \u201cI really think we have a problem for the next six months . . . once it gets to these parabolic states, markets can move and they can spike quite a lot.\u201d<\/p><p><strong>\u201cNowhere near the peak\u201d:<\/strong> The UAE has warned that prices are \u201cnowhere near\u201d their peak as the loosening of covid restrictions in China threatens to pile further pressure on an already tight market, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-08\/oil-prices-are-nowhere-near-peak-yet-says-key-opec-member-uae?srnd=premium-middle-east#xj4y7vzkg&amp;sref=mmeFTDW1\">Bloomberg<\/a> says. \u201cWith the pace of consumption we have, we are nowhere near the peak because China is not back yet,\u201d Energy Minister Suhail Al Mazrouei said yesterday.<\/p><p><strong>Let\u2019s hope Jamie\u2019s wrong:<\/strong> JPMorgan CEO Jamie Dimon <a href=\"https:\/\/www.cnbc.com\/2022\/06\/01\/jamie-dimon-says-brace-yourself-for-an-economic-hurricane-caused-by-the-fed-and-ukraine-war.html\">said earlier this month<\/a> that prices could reach as high as USD 175 a barrel this year, while <a href=\"https:\/\/www.naturalgasintel.com\/goldman-forecasting-140-oil-for-3q-as-global-supply-pressures-persist\/\">Goldman<\/a> is forecasting them to average USD 140 during the third quarter.<\/p><hr class=\"grey-line\"><p><strong>US equities could be headed for an earnings recession before the year is out, <\/strong>as Fed tightening takes a toll on margins at large-cap firms, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-08\/us-stocks-will-confront-an-earnings-recession-by-the-end-of-2022\">writes<\/a> Bloomberg markets strategist Simon White. Measures of CEO confidence at US firms have plummeted this year, suggesting trouble ahead for earnings growth as a strengthening USD hits global trade and costs soar on the back of high inflation. \u201cEven if a full recession ... is avoided, an earnings recession still means equities will find it hard to stage a sustainable rally,\u201d White predicts.<\/p><p><strong>US regulator eyes shake-up of trading rules to protect retail investors: <\/strong>Meanwhile, US Securities and Exchange Commission (SEC) head Gary Gensler has proposed an overhaul of US stock-trading rules, <a href=\"https:\/\/www.reuters.com\/markets\/us\/wall-street-regulator-spell-out-push-overhaul-stock-trading-sources-2022-06-08\/\">Reuters<\/a>reports. The proposed changes, which come a year after the meme-stock frenzy, include creating an \u201copen and transparent\u201d auction mechanism for firms to execute trades from retail investors, part of efforts to boost competition. \u201cI asked staff to take a holistic, crossmarket view of how we could update our rules and drive greater efficiencies in our equity markets, particularly for retail investors,\u201d Gensler said yesterday.<\/p><p><strong>The wolves of Wall St are howling: <\/strong>The proposed plan was met with strong criticism by brokerages and trading firms, <a href=\"https:\/\/www.wsj.com\/articles\/sec-considers-routing-equity-trades-into-competitive-auctions-gensler-says-11654705854?mod=hp_lead_pos1\">The Wall Street Journal<\/a>writes, noting that executing retail trades is a lucrative business for a small handful of firms who have little incentive to support any changes to the current system.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>10,236<\/p>\n<\/td>\n<td>\n<p>+1.9% (YTD: -14.3%)<\/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>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 18.65<\/p>\n<\/td>\n<td>\n<p>Sell 18.73<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 18.67<\/p>\n<\/td>\n<td>\n<p>Sell 18.73<\/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>12,596<\/p>\n<\/td>\n<td>\n<p>-0.5% (YTD: +11.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>9,710<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: +14.4%)<\/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>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,396<\/p>\n<\/td>\n<td>\n<p>+0.7% (YTD: +6.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,116<\/p>\n<\/td>\n<td>\n<p>-1.1% (YTD: -13.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,593<\/p>\n<\/td>\n<td>\n<p>-0.1% (YTD: -2.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td>\n<p>3,789<\/p>\n<\/td>\n<td>\n<p>-0.5% (YTD: -11.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 123.65<\/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 8.18<\/p>\n<\/td>\n<td>\n<p>-6.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,855<\/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>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 30,135<\/p>\n<\/td>\n<td>\n<p>-3.2% (YTD: -34.6%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 rose 1.9% at yesterday\u2019s close<\/strong> on turnover of EGP 902 mn (7.5% above the 90-day average). Foreign investors were net sellers. The index is down 14.3% YTD.<\/p><p><strong>In the green: <\/strong>Sidi Kerir Petrochemicals (+7.0%), Heliopolis Housing (+5.4%) and Fawry (+5.1%).<\/p><p><strong>In the red: <\/strong>CIRA (-2.2%), e-Finance (-0.9%) and Egypt Kuwait Holding-EGP (-0.1%).<\/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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/equities\/\">equities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/microsoft\/\">microsoft<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sec\/\">SEC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wall-street\/\">Wall Street<\/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=\"547144\" 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=\"547144\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/we-are-now-officially-responsible-for-cop27\/\">\r\n                            We are now officially responsible for COP27                        <\/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\/06\/09\/we-are-now-officially-responsible-for-cop27\/\" 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\/06\/09\/we-are-now-officially-responsible-for-cop27\/')\">\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\/06\/09\/we-are-now-officially-responsible-for-cop27\/\">\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=We are now officially responsible for COP27&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/we-are-now-officially-responsible-for-cop27\/\">\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\/06\/09\/we-are-now-officially-responsible-for-cop27\/&title=We are now officially responsible for COP27\">\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=We+are+now+officially+responsible+for+COP27+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F09%2Fwe-are-now-officially-responsible-for-cop27%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\/06\/09\/we-are-now-officially-responsible-for-cop27\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547144\" class=\"content-area-description single-story post-547144 post type-post status-publish format-standard hentry category-diplomacy tag-bonn-un-climate-conference tag-cop27 tag-diplomacy tag-enterpriseam tag-foreign-minister tag-israel tag-jordan tag-morocco tag-palestine tag-sameh-shoukry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>We\u2019ve officially been passed the COP baton<\/strong>: Foreign Minister COP27 President-Designate Sameh Shoukry signed the COP27 Host Country Agreement with UN climate executive secretary Patricia Espinosa while attending meetings with members of the Group of 77 developing countries and China at a UN climate conference in Bonn (<a href=\"https:\/\/www.facebook.com\/watch\/?v=701354814488994\">watch, runtime: 0:29<\/a>). The agreement is a legally binding document detailing Egypt\u2019s plans and responsibilities as host of the conference.<\/p>\n<p><strong>Keep the geopolitics out of COP, says Shoukry: <\/strong>Egypt is keen to \u201cdistance the climate negotiations from recent geopolitical developments on the international arena\u201d when it hosts the COP27 climate conference in Sharm El Sheikh, Shoukry has said, according to a Foreign Ministry <a href=\"https:\/\/bit.ly\/3NHehhW\">statement<\/a>.<\/p>\n<p><strong>Also in diplomacy:<\/strong><\/p>\n<ul>\n<li><strong>Egypt and Morocco agreed to restructure the Egyptian-Moroccan Business Council <\/strong>to boost economic cooperation and investment. (<a href=\"https:\/\/bit.ly\/3QcrTD8\">Trade Ministry statement)<\/a><\/li>\n<li><strong>Israel has turned down a US-led plan for a summit with the Palestinian Authority<\/strong> in which Egypt would have participated. (<a href=\"https:\/\/www.axios.com\/2022\/06\/08\/israel-rejects-proposal-summit-palestinian-authority\">Axios<\/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\/bonn-un-climate-conference\/\">Bonn UN Climate Conference<\/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\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-minister\/\">Foreign Minister<\/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\/jordan\/\">Jordan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/morocco\/\">Morocco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palestine\/\">Palestine<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"547145\" 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=\"547145\">\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\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/my-morning-routine-ahmed-helmy-business-development-manager-at-amr-helmy-designs-and-founder-of-korsagy\/\">\r\n                            My Morning Routine: Ahmed Helmy, business development manager at Amr Helmy Designs and founder of Korsagy                        <\/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\/06\/09\/my-morning-routine-ahmed-helmy-business-development-manager-at-amr-helmy-designs-and-founder-of-korsagy\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Speaking to us this week is Ahmed Helmy (<a href=\"https:\/\/www.linkedin.com\/in\/ahmed-amr-helmy-a06ab873\/\">LinkedIn<\/a>), business development manager at <a href=\"https:\/\/www.amrhelmydesigns.com\/\">Amr Helmy Designs<\/a> and founder of <a href=\"https:\/\/korsagy.com\/\">Korsagy<\/a>.<\/p>\n<p><strong>My name is Ahmed Amr Helmy and I\u2019m the business development manager at Amr Helmy Designs (AHD). <\/strong>That\u2019s my official title, but my daily role is doing a little bit of everything and being involved in several roles and functions of the organization. I\u2019m involved in marketing, I work on technical drawings for our designs, I meet clients, and I\u2019m very hands-on with visiting sites to make sure our work is being implemented correctly.<\/p>\n<p><strong>Amr Helmy Designs is a household name for avant-garde furniture, especially kitchen designs.<\/strong> My father, Amr Helmy, started the business more than 40 years ago \u2014 almost by accident. His dream was to be an architect, but he studied Applied Arts instead. While he was in university, he designed a kitchen for his mother, Nadia, and her friends were so impressed by the design being ahead of its time that they began asking him to design new kitchens for them, too. That\u2019s how it started. Now, AHD works to embody different cultures: We have a zen kitchen inspired by Asian design, a Greek-inspired kitchen, and the Bauhaus German kitchen.<\/p>\n<p><strong>I\u2019m really interested in and driven by high-technology ideas. My latest creation for <\/strong><strong>AH Haute Couture, a division of AHD, is a voice-automated wardrobe<\/strong> that I just launched and presented at an exhibition last week, actually. AH Haute Coutures is all about fashion-inspired wardrobes infused with high-tech functionality, including the voice automation feature, hidden magnetic locks, and fingerprint-activated units. The design is a wardrobe with a coded carousel that can be customized with your belongings and will bring you a specific piece of clothing that you ask for through a voice-automated application. I\u2019ve also designed a shoe rack with a similar functionality.<\/p>\n<p><strong>I really love taking normal, everyday pieces of furniture and taking them to the next level with technology<\/strong>, which is always evolving and is truly interesting to me. I founded Korsagy, which was born out of my passion for chair design \u2014 besides high-tech applications in home solutions. My designs for Korsagy are very much inspired by Danish furniture designer Hans Wegner, who is perhaps the pioneer of modern but functional furniture design.<\/p>\n<p><strong>We also recently started an interior design studio, although we haven\u2019t formally announced it yet.<\/strong> We do residential, commercial, and retail projects through the studio, along with product design and event design.<\/p>\n<p><strong>Each <\/strong><strong>person in the family has also branched out a little with their own subset of the business.<\/strong> One of my brothers, Mostafa, founded ZeroChemia, AHD\u2019s environmentally conscious side, which has a wide range of products with zero chemical additives in the entire production process. My sister, Malak, set up a concept store named HELMY that feeds off AHD\u2019s cultural element by focusing on the consecutive cultures that have been in Egypt, which are expressed in the store\u2019s furniture, fashion, and art products. And finally, my youngest brother, Hussein, worked with my mother to establish Bayty, a sister company that brings together all the elements of the organization and the family\u2019s subsets into a mini boutique hotel studio experience.<\/p>\n<p><strong>I wake up at 8am and my daily routine starts with a hot bath every morning.<\/strong> Not a shower, a bath. It\u2019s become increasingly important for me to clear my head in the morning and set the tone for the day, so I also spend time before I head out to work to have a coffee \u2014 usually alone, or with my wife, Malak. I get to the office every day at 9am and start by catching up on the news by reading Enterprise, and then I start working through my to-do list.<\/p>\n<p><strong>I have the world\u2019s shortest and best commute \u2014 I live right next door to our office and showroom space in Maadi<\/strong>, so it takes less than one minute door-to-door [laughs]. The upside of this is obviously the time saved on commuting at the beginning and end of the day, but the downside is also the appearance of around-the-clock availability because I\u2019m so close.<\/p>\n<p><strong>To be honest, my experience with work-life balance is that I often end up prioritizing work <\/strong>because I\u2019m so heavily involved in our family business. But I like to disconnect with sci-fi movies and immersing myself in anything high-tech. I don\u2019t really like watching typical movies or anything that depicts life as we know it. I usually like to venture beyond what I know and what\u2019s outside the box, whether with the books I read or the shows and movies I watch.<\/p>\n<p><strong>The last great thing I watched was <\/strong><strong><a href=\"https:\/\/www.imdb.com\/title\/tt0396171\/\">Perfume: The Story of a Murderer<\/a><\/strong><strong>.<\/strong> I also recently read <a href=\"https:\/\/www.goodreads.com\/book\/show\/44525305-the-ride-of-a-lifetime\">Ride of a Lifetime<\/a> by Bob Iger, which I really enjoyed.<\/p>\n<p><strong>My favorite piece of advice that I\u2019ve received and like to give others is to take a break every now and then.<\/strong> And in the break, break a leg.<\/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\/amr-helmy-designs\/\">Amr Helmy Designs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"547147\" 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\/06\/09\/547147\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547147\" class=\"content-area-description single-story post-547147 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>JUNE<\/strong><\/p>\n<p>9 June (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>9 June (Thursday): <a href=\"https:\/\/digitransformationsummit.com\/egypt\/\">Digital Transformation Summit<\/a>, The Nile Ritz-Carlton, Cairo<\/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): <a href=\"https:\/\/ent.news\/2022\/5\/ER2FOOD-Event-Agenda-240522.pdf\">EU-Egypt Sustainable Food Value Chain conference<\/a>, Grand Nile Tower Hotel, Cairo.<\/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>21-23 June (Tuesday-Thursday): <a href=\"https:\/\/www.cweic.org\/cbf\/rwanda-2022\/\">Commonwealth Business Forum<\/a>, Kigali, Rwanda.<\/p>\n<p>23 June (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>25-27 June (Saturday-Monday): <a href=\"https:\/\/www.thebig5constructegypt.com\/lp\/egypts-first-construction-event-of-the-year\/?utm_source=google&utm_medium=cpc&utm_campaign=S%20%7C%20B%20%7C%20Big%205%20Construct%20Egypt%202022%20%7C%20Visprom&gclid=CjwKCAjwkYGVBhArEiwA4sZLuFPGjHXtn7AtCca0mNtaB726ieUKPUKa_G0f53B_komYEEq81zjnzxoCId4QAvD_BwE\">Big 5 Construct<\/a>, Egypt International Exhibition Center.<\/p>\n<p>26 June (Sunday): 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>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: Egypt and Israel will <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-03\/eu-egypt-near-gas-supply-deal-in-shift-away-from-russia?sref=mmeFTDW1\">sign an agreement<\/a> with the EU to increase LNG exports.<\/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>July: Actis\u2019 expected sale of its majority stake in Lekela to Infinity and Masdar\u2019s Infinity Power.<\/p>\n<p>First week of July: The national dialogue called for by President Abdel Fattah El Sisi kicks off.<\/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>6-9 September (Tuesday-Friday): Gate Travel Expo 2022, El Kobba Palace, Cairo.<\/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&ndash;27 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: 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>10-16 October (Monday-Sunday): <a href=\"https:\/\/www.imf.org\/en\/About\/Factsheets\/Annual-Spring-Meetings\">World Bank and IMF annual meetings<\/a>, Washington, DC, chaired by CBE Governor Tarek Amer<\/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>3-5 November (Thursday-Saturday): Egypt Fashion Week.<\/p>\n<p>4-6 November (Friday-Sunday): 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 COP27 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>MAY 2023<\/strong><\/p>\n<p>22-26 May (Monday-Friday): Egypt <a href=\"https:\/\/www.afdb.org\/en\/news-and-events\/press-releases\/african-development-bank-group-concludes-annual-meetings-governors-endorse-banks-vision-next-10-years-51974#:~:text=The%20new%20Board%20of%20Governors,from%2022%2D26%20May%202023.\">will host<\/a> the African Development Bank (AfDB) annual meetings in Sharm El Sheikh.<\/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. 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