{"id":547194,"date":"2022-06-13T04:57:09","date_gmt":"2022-06-13T04:57:09","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=547194"},"modified":"2025-12-15T21:44:38","modified_gmt":"2025-12-15T21:44:38","slug":"maait-ukraine-war-could-cost-us-another-usd-10-bn-in-wheat-oil-imports","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/maait-ukraine-war-could-cost-us-another-usd-10-bn-in-wheat-oil-imports\/","title":{"rendered":"Maait: Ukraine war could cost us another USD 10 bn in wheat + oil imports."},"content":{"rendered":"<section id=\"547196\" 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=\"547196\">\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\/13\/this-morning-usd-10-bn-additional-burden-latvian-fm-in-town-wheat-cant-get-out-of-ukraine-and-india-isnt-helpingoh-and-the-fed\/\">\r\n                            THIS MORNING: USD 10 bn additional burden + Latvian FM in town + wheat can\u2019t get out of Ukraine and India isn\u2019t helping\u2026oh, and the Fed.                        <\/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\/13\/this-morning-usd-10-bn-additional-burden-latvian-fm-in-town-wheat-cant-get-out-of-ukraine-and-india-isnt-helpingoh-and-the-fed\/\" 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\/13\/this-morning-usd-10-bn-additional-burden-latvian-fm-in-town-wheat-cant-get-out-of-ukraine-and-india-isnt-helpingoh-and-the-fed\/')\">\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\/13\/this-morning-usd-10-bn-additional-burden-latvian-fm-in-town-wheat-cant-get-out-of-ukraine-and-india-isnt-helpingoh-and-the-fed\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=THIS MORNING: USD 10 bn additional burden + Latvian FM in town + wheat can\u2019t get out of Ukraine and India isn\u2019t helping\u2026oh, and the Fed.&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/13\/this-morning-usd-10-bn-additional-burden-latvian-fm-in-town-wheat-cant-get-out-of-ukraine-and-india-isnt-helpingoh-and-the-fed\/\">\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\/13\/this-morning-usd-10-bn-additional-burden-latvian-fm-in-town-wheat-cant-get-out-of-ukraine-and-india-isnt-helpingoh-and-the-fed\/&title=THIS MORNING: USD 10 bn additional burden + Latvian FM in town + wheat can\u2019t get out of Ukraine and India isn\u2019t helping\u2026oh, and the Fed.\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=THIS+MORNING%3A+USD+10+bn+additional+burden+%2B+Latvian+FM+in+town+%2B+wheat+can%E2%80%99t+get+out+of+Ukraine+and+India+isn%E2%80%99t+helping%E2%80%A6oh%2C+and+the+Fed.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F13%2Fthis-morning-usd-10-bn-additional-burden-latvian-fm-in-town-wheat-cant-get-out-of-ukraine-and-india-isnt-helpingoh-and-the-fed%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\/13\/this-morning-usd-10-bn-additional-burden-latvian-fm-in-town-wheat-cant-get-out-of-ukraine-and-india-isnt-helpingoh-and-the-fed\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547196\" class=\"content-area-description single-story post-547196 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-capital-markets tag-enterpriseam tag-financial-regulatory-authority tag-inflation tag-leasing tag-microfinance tag-mohamed-el-erian tag-russia tag-securitization tag-ukraine tag-us tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Good morning, ladies and gentlemen, <\/strong>and welcome to another issue of the government and the private sector playing whack-a-mole with the impact of the Ukraine-Russia war.<\/p><p><strong>THE BIG STORY TODAY- <\/strong> <strong>Finance Minister Mohamed Maait\u2019s estimate of a USD 10 bn <\/strong><strong>extra burden from rising wheat and oil prices <\/strong>on the country next fiscal year is leading the local news.<\/p><p><strong>More UAE investment news: <\/strong>Elsewhere, First Abu Dhabi Bank completed the merger of Bank Audi Egypt and rebrands its local operations to FABMisr, while our friends at Chimera become the latest to make a play for a controlling stake in Beltone Financial.<\/p><p><strong>Investment roadshow continues: <\/strong>Finance Minister Mohamed Maait has invited South Korean companies to invest in our agriculture, industry, transportation, energy, and water sectors, according to a <a href=\"https:\/\/bit.ly\/3NH4wjA\">statement<\/a> by the Finance Ministry. Maait laid out the government\u2019s<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/158188ff-65a9-4146-adc1-5f53c1a3f6e5\">privatization strategy<\/a> in a meeting with South Korean companies\u2019 local representatives, saying that the government is ready to help remove obstacles for investors as part of efforts to lure USD 10 bn in foreign direct investment (FDI) annually.<\/p><p><strong>Officials from our government have been meeting with <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f6da0c69-9796-4dd2-8374-065449b7093f\">foreign<\/a><\/strong><strong> and<\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/67794c02-4c1b-4d65-867d-863f039e6ccd\">Arab investors<\/a><\/strong><strong> in the past few weeks <\/strong>under efforts to promote the country as an investment-friendly destination as the state doubles down on its privatization push.<\/p><p><strong>Some good news from the senate:<\/strong> The Senate has approved <a href=\"https:\/\/bit.ly\/3tzuVYK\">the state\u2019s draft 2022-2023 sustainable<\/a><a href=\"https:\/\/bit.ly\/3tzuVYK\">development plan (pdf)<\/a>. It should now be on its way to the House of Representatives for final approval, <a href=\"https:\/\/bit.ly\/3NNOe8u\">Al Borsa<\/a> reports.<\/p><p><strong>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p><p><strong>Latvian FM + business delegation in town for talks:<\/strong> Latvian Foreign Minister Edgars Rink\u0113vi\u010ds is accompanying a business delegation to Cairo, which kicked off its three-day visit yesterday. The trip is aiming to \u201cstrengthen political and trade relations \u2026 particularly in digital and logistics sectors,\u201d Rink\u0113vi\u010ds <a href=\"https:\/\/twitter.com\/edgarsrinkevics\/status\/1535669702948683777?cxt=HHwWgoCwiazd5c8qAAAA\">wrote on social media<\/a> Saturday. The minister held talks with President Abdel Fattah El Sisi and Foreign Minister Sameh Shoukry yesterday, which focused on the war in Ukraine, its impact on the global economy, and illegal immigration, in additon to deepening cooperation in IT, education and tourism, according to an <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid0UK476vjgZwgU7mdABd43ndxByKCWAQ55pFXEb3znvdtpHEhB3NT4YafFvfJwq4iUl\">Ittihadiya readout<\/a> of the meeting.<\/p><p><strong>Information and cyber security conference <\/strong><strong><a href=\"https:\/\/caisec.org\/\">Caisec<\/a><\/strong> <strong>gets underway today<\/strong> at the Kempinski in New Cairo. The two-day event brings together industry decision makers, CEOs and CIOs from leading local and international tech companies, as well as government figures, including six ministers. Attendees will discuss cybersecurity issues including securing digital banking services, building critical infrastructure systems, and the role of artificial intelligence and machine learning.<\/p><p><strong>MARKET WATCH-<\/strong><\/p><p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Efforts to unlock Ukrainian grain seem to be facing hurdles:<\/strong> Ukraine is exporting grain via two routes through Poland and Romania but bottlenecks are slowing down the process, Ukrainian Deputy Foreign Minister Dmytro Senik told <a href=\"https:\/\/www.reuters.com\/world\/ukraine-grain-exports-via-poland-romania-face-bottlenecks-deputy-foreign-2022-06-12\/\">Reuters<\/a> yesterday. Russia\u2019s blockade of the Black Sea ports has trapped some 30 mn tons of grain inside Ukraine, and forced Kyiv to turn to rail, road and river transport to get it out of the country. Senik did not disclose how much grain has been \u2014 or is set to be \u2014 transported through the two countries.<\/p><p><strong>The problem:<\/strong> There\u2019s no simple or cheap way for Ukraine to export grain over land. Shipments need to be transferred to different trains at the Polish border \u2014 where there are few loading or storage facilities \u2014 because the country\u2019s Soviet-era railway network uses a different gauge to the rest of Europe. Taking the Romania route involves transporting shipments by rail to the Danube river where they are loaded onto barges and sent to the port of Constanta.<\/p><p><strong>Things could get a bit easier in the coming weeks:<\/strong> Ukraine is currently talking to countries in the Baltic to add a third corridor, Senik said.<\/p><p><strong>There\u2019s little chance of a breakthrough in the Black Sea:<\/strong> Neither Ukraine nor Russia appear likely to sign on to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/42fc30fa-9136-4971-a9b5-8844e2991226\">a UN- and Turkey-backed plan<\/a> to reopen the port of Odessa and ease the global food crisis. Wary of a potential attack on its final coastal stronghold, Ukraine is <a href=\"https:\/\/www.cnbc.com\/2022\/06\/10\/russia-and-ukraine-battle-over-underwater-mines-in-the-black-sea.html\">refusing to demine the port<\/a>, while Moscow is <a href=\"https:\/\/www.reuters.com\/markets\/commodities\/turkey-is-not-powerful-enough-guarantee-ukrainian-grain-exports-traders-union-2022-06-08\/\">demanding a relaxation of sanctions<\/a> before it allows ships to exit the Black Sea.<\/p><hr class=\"grey-line\"><p><strong>There\u2019s no one BIG STORY ABROAD this morning<\/strong> as the slow news day at home is mirrored in the pages of the international press. That said, everyone is paying attention to the passing of a <strong>bipartisan bill in the US meant to address gun violence<\/strong> by limiting access to some kinds of firearms. While modest in scope, the legislation is the first gun reform to get past US lawmakers in decades, despite years of calls for action on the back of successive school shootings. The impetus for this latest push was the murder of nineteen children and two adults at a <a href=\"https:\/\/www.nytimes.com\/article\/uvalde-texas-school-shooting.html\">Texas school last month<\/a>. The <a href=\"https:\/\/www.wsj.com\/articles\/senate-negotiators-close-in-on-deal-in-gun-talks-11655045403?mod=hp_lead_pos1\">Wall Street Journal<\/a>, <a href=\"https:\/\/www.nytimes.com\/2022\/06\/12\/us\/politics\/senator-gun-safety-deal.html\">New York Times<\/a>, <a href=\"https:\/\/www.washingtonpost.com\/politics\/2022\/06\/12\/senate-gun-deal-framework\/\">Washington Post<\/a>, <a href=\"https:\/\/apnews.com\/article\/gun-laws-senate-bipartisan-agreement-59d553f3d1e35fdbe4930e4341e74efb\">AP<\/a>, and <a href=\"https:\/\/www.reuters.com\/world\/us\/bipartisan-us-senate-group-unveils-framework-gun-safety-reform-2022-06-12\/\">Reuters<\/a> have more.<\/p><p><strong>FROM THE DEPT. OF D\u2019UH- WTO head warns of \u201cbumpy and rocky\u201d road as high-level meeting enters its second<\/strong><strong> day:<\/strong> More than 100 trade ministers are discussing whether to ease food export restrictions and waive covid vaccine patents at the four-day ministerial meeting of the World Trade Organization (WTO) in a potentially significant moment for the escalating global food crisis, and for accelerating the rollout of vaccines in the developing world.<\/p><p><strong>Just a few landmines?<\/strong> \u201cThe road will be bumpy and rocky. There may be a few landmines on the way,\u201d the <a href=\"https:\/\/apnews.com\/article\/russia-ukraine-covid-health-government-and-politics-business-6e3e4bb95d896c33a6d1e9d3233dd212\">AP quotes<\/a> WTO head Ngozi Okonjo-Iweala as saying yesterday.<\/p><p><strong>The sticking points:<\/strong> G7 countries are pushing for an end to food export restrictions, clashing with <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fb46ba56-9871-43e8-819e-c4323be70846\">India<\/a>, which wants to maintain its ban on wheat exports to protect its population from food shortages and rapidly rising prices. India, along with South Africa, has also been one of the main proponents of scrapping patents on covid vaccines, a proposal which has been rejected by most western governments which have sided with the pharma industry.<\/p><p><strong>HAPPENING THIS WEEK- <\/strong><\/p><p><strong>It could be a big week for our gas export ambitions:<\/strong> Hopes are high that Egypt can ink an agreement to increase exports to the EU when EU Commission President Ursula von der Leyen lands in Cairo for talks with President Abdel Fattah El Sisi. According to a <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-03\/eu-egypt-near-gas-supply-deal-in-shift-away-from-russia?sref=mmeFTDW1\">draft document seen by Bloomberg<\/a> earlier this month, the EU is expected to sign an MoU with Egypt and Israel that will see more Israeli gas shipped to Egypt\u2019s LNG facilities where it will be exported across the Mediterranean.<\/p><p><strong>All eyes on the Fed: <\/strong>Further afield, the Federal Reserve will meet tomorrow and Wednesday to decide on interest rates amid US inflation accelerated to a fresh 40-year high in May. This has raised fears among traders that the Federal Reserve will turn even more hawkish when it meets this week.<\/p><p><strong>The question now becomes by how much: will it be 50 bps or 75 bps?<\/strong> We have more on that in Planet Finance below.<\/p><p><strong>Egypt is the guest of honor at this year\u2019s <\/strong><strong><a href=\"https:\/\/forumspb.com\/en\/\">St. Petersburg International Economic Forum (SPIEF)<\/a><\/strong>, which takes place on 15-18 June in the Russian city. Trade Minister Nevine Gamea will participate in several panels on Thursday, including a session on Egyptian-Russian relations where she\u2019ll be joined by SCZone VP Waleid Gamaleldien, the head of the Egyptian Exporters Associated Mohamed Kassem, and Tourism Ministry undersecretary Ahmed Youssef.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>El Sisi, Amer attending Afreximbank annual meetings: <\/strong>The African Export-Import Bank\u2019s (Afreximbank) <a href=\"https:\/\/2022.afreximbankevents.com\/en-home\/\">annual meetings<\/a> start Wednesday at the new capital\u2019s St. Regis Almasa Hotel. President Abdel Fattah El Sisi, Central Bank of Egypt Governor Tarek Amer, and Afreximbank President Benedict Oramah will give keynote speeches at the event, which will focus primarily on implementing the Africa freetrade agreement that came into force in 2021.<\/p><p><strong>There\u2019s a handful of conferences coming up:<\/strong><\/p><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 this 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 21-22 June (Tuesday-Wednesday).<\/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><p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/CIRA-Blackboard-Banner-B.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. Blackboard appears every Monday in Enterprise in the place of our traditional industry news roundups.<\/p><p><strong>In today\u2019s issue:<\/strong> After a trial year appears to have not gone over well with students and universities, the Higher Education Ministry\u2019s Supreme Council for Private Universities has decided to overhaul its centralized admissions system for private and nonprofit universities. The system, which was launched last year, imposed a Tansik-style process (the same process used for public universities in Egypt) on private university admissions by allocating students to available seats based primarily on their grade points.<\/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\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/leasing\/\">leasing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/microfinance\/\">microfinance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-el-erian\/\">Mohamed El Erian<\/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\/securitization\/\">securitization<\/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\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"547197\" 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=\"547197\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/13\/547197\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547197\" class=\"content-area-description single-story post-547197 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\/2\/1600px-W-x-1200px-H-post-03-1.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=\"547198\" 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=\"547198\">\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\">Commodities<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/13\/and-the-toll-from-europes-mess-keeps-getting-bigger\/\">\r\n                            And the toll from Europe\u2019s mess keeps getting bigger                        <\/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\/13\/and-the-toll-from-europes-mess-keeps-getting-bigger\/\" 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\/13\/and-the-toll-from-europes-mess-keeps-getting-bigger\/')\">\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\/13\/and-the-toll-from-europes-mess-keeps-getting-bigger\/\">\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=And the toll from Europe\u2019s mess keeps getting bigger&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/13\/and-the-toll-from-europes-mess-keeps-getting-bigger\/\">\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\/13\/and-the-toll-from-europes-mess-keeps-getting-bigger\/&title=And the toll from Europe\u2019s mess keeps getting bigger\">\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=And+the+toll+from+Europe%E2%80%99s+mess+keeps+getting+bigger+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F13%2Fand-the-toll-from-europes-mess-keeps-getting-bigger%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\/13\/and-the-toll-from-europes-mess-keeps-getting-bigger\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/247.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"547199\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/13\/and-the-toll-from-europes-mess-keeps-getting-bigger\/247-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/247.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"247.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/247.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/247.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547198\" class=\"content-area-description single-story post-547198 post type-post status-publish format-standard has-post-thumbnail hentry category-commodities tag-commodities tag-enterpriseam tag-france tag-gasc tag-mohamed-maait tag-russia tag-ukraine tag-wheat wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Egypt will need around USD 10 bn next fiscal year for wheat + oil: <\/strong>Egypt could face an extra USD 10.2 bn burden next fiscal year if wheat and oil prices remain at their current elevated levels, Finance Minister Mohamed Maait told <a href=\"https:\/\/bit.ly\/39eJBp2\">CNBC Arabia<\/a> in an interview.<\/p>\n<p><strong>On wheat: <\/strong>Some USD 3 bn more would be needed for imported wheat in FY2022-23, split equally between public and private purchases, Maait said. Maait puts current prices at around USD 500 per ton \u2014 around double the upper range of what wheat had cost us on the international markets before the recent price squeeze, he says. Multiply the USD 250-per ton difference by around 12 mn tons we import in a year (split equally between public and private-sector purchases) for the USD 3 bn figure.<\/p>\n<p><strong>On oil:<\/strong> He estimates that additional oil import costs could come in at around USD 7.2 bn. It\u2019s the same story as with wheat \u2014 prices have doubled on the USD 60\/bbl price that the government had penciled in for this fiscal year. We import around 120 mn barrels of oil a year, making for an EGP 7.2 bn additional annual cost. Brent crude closed at USD 122 per barrel yesterday.<\/p>\n<p><strong>REMEMBER- The government has already estimated rising global wheat prices on the back of the war to cost it an <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/90dbcce6-c13b-4758-8275-21fd871e7ef4\">additional EGP 15 bn<\/a><\/strong><strong>this fiscal year<\/strong>, penciling in the cost at around USD 350 per ton. We should get clarity on when the budget for this fiscal year closes (we estimate sometime in the coming months).<\/p>\n<p><strong>The consequences: <\/strong>Rising wheat prices don\u2019t only add an additional burden on the state budget, but pressure prices in the wider market and the local currency, Maait noted.<\/p>\n<p><strong>The figures are higher than those penciled in for the <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/59023cb0-be71-414c-9041-8118c08c2965\">draft FY2022-2023 budget<\/a><\/strong>, which is currently making its way through the House of Representatives. The budget assumes an<\/p>\n<p> an average price of USD 330 per ton of wheat (up from USD 255 this fiscal year), and USD 80 per barrel of oil \u2014 estimates that came in for <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/51f62891-ad04-47b0-93d4-1087a0721dd7\">criticism from some MPs<\/a> as leading to unrealistically low allocations for state purchases in the budget. The allocations are tentative and could still be changed up until the budget is passed (most likely sometime before the new fiscal year begins in July.)<\/p>\n<p><strong>War in Ukraine has sent commodities prices rocketing \u2014 and we\u2019re particularly vulnerable to the impacts: <\/strong>The world\u2019s largest importer of wheat, we usually source north of 80% of our grain imports from Russia and Ukraine. We\u2019re also a net oil importer, leaving us vulnerable to the price squeeze that began as a result of a demand-supply imbalance during the post-pandemic recovery and has been exacerbated by the war, which has seen Europe pledge to wean itself off Russian fossil fuels.<\/p>\n<p><strong>KUDOS to Maait and the gov\u2019t for continuing their policy of speaking transparently <\/strong>about the effects of global economic headwinds here at home. As Maait noted, this crisis is not the result of \u201cinterior politics\u201d but of market forces beyond our borders \u2014 and communicating clearly will be key to riding them out.<\/p>\n<p><strong>Meanwhile, the French are stepping up: <\/strong>Some 63k tonnes of French wheat has landed at Red Sea\u2019s Safaga Port, <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2619973\">Al Masry Al Youm<\/a> reported. The shipment is part of the 350k tons of wheat from France, Russia, and Bulgaria that GASC <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/13de9150-4357-4b83-bb04-bb10a00ebd79\">bought in April<\/a>, in its first successful tender since war broke out in Europe\u2019s breadbasket. The French wheat is now being tested for quality, according to Al Masry Al Youm.<\/p>\n<p><strong>IN OTHER COMMODITIES NEWS-<\/strong><\/p>\n<p><strong>The Oil Ministry plans to build a EGP 1.8 bn crude <\/strong><strong>oil storage facility south of <\/strong><strong>Cairo<\/strong>, which would receive crude from Ain Sokhna and transfer it to the Assiut oil refinery, according to a <a href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid0ThLrMtaUqAm1YoLJ9Aip2khuLZr8g9BX1HgpGqW2SuS1dVDhRUP5fKaGpTxrgpyGl\">statement<\/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\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/france\/\">France<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gasc\/\">GASC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-maait\/\">Mohamed Maait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ukraine\/\">Ukraine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"547200\" 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=\"547200\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/13\/bidding-war-over-beltone-afoot\/\">\r\n                            Bidding war over Beltone afoot?                        <\/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\/13\/bidding-war-over-beltone-afoot\/\" 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\/13\/bidding-war-over-beltone-afoot\/')\">\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\/13\/bidding-war-over-beltone-afoot\/\">\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=Bidding war over Beltone afoot?&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/13\/bidding-war-over-beltone-afoot\/\">\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\/13\/bidding-war-over-beltone-afoot\/&title=Bidding war over Beltone afoot?\">\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=Bidding+war+over+Beltone+afoot%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F13%2Fbidding-war-over-beltone-afoot%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\/13\/bidding-war-over-beltone-afoot\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/249.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"547201\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/13\/bidding-war-over-beltone-afoot\/249-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/249.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"249.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/249.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/249.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547200\" class=\"content-area-description single-story post-547200 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-beltone-financial tag-chimera-investment tag-enterpriseam tag-ma-watch tag-orascom-financial-holding tag-uae tag-wm-consultancy 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>UAE\u2019s Chimera puts in an offer for Beltone: <\/strong>Our friends at Abu-Dhabi based investment firm Chimera Investments have submitted a non-binding offer to acquire a controlling stake in Beltone Financial, according to a <a href=\"https:\/\/ent.news\/2022\/6\/Chimera-Beltone-FRA.pdf\">statement (pdf)<\/a> by the Financial Regulatory Authority (FRA) and disclosures by Chimera (<a href=\"https:\/\/ent.news\/2022\/6\/Chimera-Beltone.pdf\">pdf<\/a>) and Beltone (<a href=\"https:\/\/ent.news\/2022\/6\/Beltone-on-Chimera.pdf\">pdf<\/a>).<\/p>\n<p><strong>The breakdown: <\/strong>Chimera is bidding to acquire 51-90% of Beltone at an initial price of EGP 1.49 per share, valuing the firm at some EGP 690 mn by our math.<\/p>\n<p><strong>This is the second acquisition offer Beltone has fielded in as many weeks: <\/strong> An investor alliance led by WM Consultancy last week <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/58e5b389-f835-4be0-8bf6-a54cceba59ed\">put in its own offer<\/a> to acquire a 51-90% stake in Beltone at EGP 1.35 a piece.<\/p>\n<p><strong>Chimera has pitched its offer exactly 10% higher than WM\u2019s bid, <\/strong>and at more than a 40% premium to Beltone\u2019s share price before the news of WM\u2019s offer broke.<\/p>\n<p><strong>Beltone\u2019s shares fell<\/strong> 0.96% to EGP 1.138 yesterday. Shares are still up more than 9% since WM\u2019s bid was announced at the start of last week.<\/p>\n<p><strong>What\u2019s next: <\/strong>A final offer is pending regulatory approvals in Egypt and the UAE, according to the statements.<\/p>\n<p><strong>Beltone has already <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2733515d-1548-449f-ab0b-9ccfe1d3727e\">given the green light<\/a><\/strong><strong> for the WM-led consortium to conduct due diligence<\/strong>, it said last week. The consortium will need approval from the FRA before it can start due diligence. WM Consultancy is led by former Beltone exec Wael Mahgary.<\/p>\n<p><strong>Who owns Beltone today? <\/strong>Orascom Financial Holding (OFH) currently owns 58% of Beltone, with the rest in freefloat, according to the company\u2019s website. OFH has been lowering its stake in Beltone over the past couple of years, after holding a majority of 74.5% of the company in 2020.<\/p>\n<p><strong>This comes on the back of another loss making year for Beltone: <\/strong>The company\u2019s net losses widened to EGP 169.8 mn in 2021, from EGP 132.4 mn the previous year, according to the firm\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3be3513f-3cd3-4669-9a75-c4fc97e75126\">financial statement<\/a>. Revenues rose 27.1% y-o-y in 2021, recording EGP 351.7 mn.<\/p>\n<p><strong>Advisors:<\/strong> Chimera has tapped Matouk Bassiouny & Hennawy as legal counsel to the Abu Dhabi-based fund, according to its statement.<\/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\/beltone-financial\/\">Beltone Financial<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/chimera-investment\/\">Chimera Investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-financial-holding\/\">Orascom Financial Holding<\/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\/wm-consultancy\/\">WM Consultancy<\/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=\"547202\" 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=\"547202\">\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\">Banking<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/13\/welcome-fabmisr\/\">\r\n                            Welcome, FABMisr                        <\/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\/13\/welcome-fabmisr\/\" 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\/13\/welcome-fabmisr\/')\">\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\/13\/welcome-fabmisr\/\">\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=Welcome, FABMisr&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/13\/welcome-fabmisr\/\">\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\/13\/welcome-fabmisr\/&title=Welcome, FABMisr\">\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=Welcome%2C+FABMisr+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F13%2Fwelcome-fabmisr%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\/13\/welcome-fabmisr\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/251.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"547203\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/13\/welcome-fabmisr\/251-jpg-20\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/251.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"251.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/251.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/251.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547202\" class=\"content-area-description single-story post-547202 post type-post status-publish format-standard has-post-thumbnail hentry category-banking tag-bank-audi tag-banking tag-enterpriseam tag-fabmisr tag-first-abu-dhabi-bank tag-lebanon tag-ma-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-03\"><\/a> <strong>First Abu Dhabi Bank (FAB) has completed the merger of Bank Audi Egypt and <\/strong><strong>rebranded its Egypt operations as FABMisr<\/strong>, a year after it <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eb1b0f90-8b66-49c2-a2d9-5128a0be09c6\">acquired 100% of the Lebanese bank\u2019s local unit<\/a>, the Emirati lender said in a <a href=\"https:\/\/ent.news\/2022\/6\/FAB-English.docx.pdf\">statement (pdf)<\/a> yesterday. The bank has received all the regulatory approvals for the merger, including from the Central Bank of Egypt (CBE) and the General Authority for Investment & Freezones (GAFI), it said. <strong>The value of the transaction has not been made public.<\/strong><\/p>\n<p><strong>A new big fish: <\/strong>FABMisr is expected to launch in 4Q, and will more than quadruple its branch count to 69 from a prior 17. This will make FABMisr one of the largest foreign banks in Egypt, with more than EGP 185 bn in assets.<\/p>\n<p><strong>Exodus:<\/strong> The Lebanese lender was forced to put its businesses in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2cbdb0de-de0f-47f6-9c9d-a046cb51d58f\">Egypt<\/a>, <a href=\"https:\/\/www.spglobal.com\/marketintelligence\/en\/news-insights\/latest-news-headlines\/capital-bank-of-jordan-to-acquire-bank-audi-s-iraq-jordan-businesses-8211-reuters-61919865\">Jordan and Iraq<\/a> up for sale in 2020 due to the financial and economic crisis in its home country. Fellow Lebanese bank Blom also offloaded its Egypt unit last year, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a4b287f2-a3b9-4821-9670-9dc5c1650303\">selling a 99.5% stake<\/a> to Bahrain\u2019s Bank ABC.<\/p>\n<p><strong>Advisors: <\/strong>FAB and UBS AG were buy-side financial advisors, while EFG Hermes was the sole sell-side financial advisor. Freshfields Bruckhaus Deringer and Matouk Bassiouny & Hennawy were legal advisors to FAB on the transaction, while Dechert as well as Zulficar and Partners were counsel to Bank Audi. JPMorgan gave Bank Audi a fairness opinion, while Broadgate Advisors also offered advisory services to the bank.<\/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\/bank-audi\/\">Bank Audi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fabmisr\/\">FABMisr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/first-abu-dhabi-bank\/\">First Abu Dhabi Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lebanon\/\">Lebanon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A 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=\"547204\" 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=\"547204\">\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\">CONSUMER FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/13\/contact-makes-play-for-defensive-sectors\/\">\r\n                            Contact makes play for \u2019defensive\u2019 sectors                        <\/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\/13\/contact-makes-play-for-defensive-sectors\/\" 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\/13\/contact-makes-play-for-defensive-sectors\/')\">\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\/13\/contact-makes-play-for-defensive-sectors\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Contact makes play for \u2019defensive\u2019 sectors&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/13\/contact-makes-play-for-defensive-sectors\/\">\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\/13\/contact-makes-play-for-defensive-sectors\/&title=Contact makes play for \u2019defensive\u2019 sectors\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Contact+makes+play+for+%E2%80%99defensive%E2%80%99+sectors+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F13%2Fcontact-makes-play-for-defensive-sectors%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\/13\/contact-makes-play-for-defensive-sectors\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/252.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"547205\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/13\/contact-makes-play-for-defensive-sectors\/252-jpg-18\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/252.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"252.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/252.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/252.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547204\" class=\"content-area-description single-story post-547204 post type-post status-publish format-standard has-post-thumbnail hentry category-consumer-finance tag-agriculture tag-consumer-finance tag-contact-financial tag-education tag-enterpriseam tag-healthcare 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>Contact Financial Holding\u2019s consumer financing arm is earmarking EGP 2 bn for tuition <\/strong><strong>financing <\/strong><strong>in 2H2022,<\/strong> Contact CEO and Managing Director Said Zater told Enterprise, confirming reports from <a href=\"https:\/\/www.google.com\/url?q=https:\/\/bit.ly\/39ilAxw&sa=D&source=docs&ust=1655083079730804&usg=AOvVaw0mfaGxnlUgeF2RWyqlKGxp\">Hapi<\/a>. The company already has agreements with some schools and universities to offer fee payment plans, Zater said, adding that parents can also get financing for tuition fees through direct agreements with Contact.<\/p>\n<p><strong>Contact is also eyeing healthcare financing in 2H2022, <\/strong>Zater said \u2014 especially dental care. The company is currently in talks with several companies on financing medical equipment, and is set to finalize a factoring agreement with online dental marketplace <a href=\"https:\/\/www.toothpickapp.com\/home\/en\/\">Toothpick<\/a> within days.<\/p>\n<p><strong>The company is also looking into agriculture financing<\/strong>, including for irrigation equipment, solar power plants on large farms, and seeds, Zater said.<\/p>\n<p><strong>This comes on the back of a strong first quarter for Contact Financial Holding:<\/strong> The company\u2019s net income<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e1ccc19e-d5f4-4e27-a38d-4cf40ee4532c\">jumped 40% y-o-y<\/a> to EGP 154 mn in 1Q2022. Net income from Contact\u2019s financing business rose 46% y-o-y to EGP 141 mn. The company saw a near five-fold increase in new consumer finance, driven by growth in home interior, club membership, and education financing.<\/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\/consumer-finance\/\">consumer finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/contact-financial\/\">Contact Financial<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"547206\" 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=\"547206\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/13\/547206\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547206\" class=\"content-area-description single-story post-547206 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=\"547207\" 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=\"547207\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/13\/last-nights-talk-shows-aboul-gheit-talks-gerd-conflict-in-ukraine\/\">\r\n                            Last Night\u2019s Talk Shows: Aboul Gheit talks GERD, conflict in Ukraine                        <\/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\/13\/last-nights-talk-shows-aboul-gheit-talks-gerd-conflict-in-ukraine\/\" 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\/13\/last-nights-talk-shows-aboul-gheit-talks-gerd-conflict-in-ukraine\/')\">\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\/13\/last-nights-talk-shows-aboul-gheit-talks-gerd-conflict-in-ukraine\/\">\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: Aboul Gheit talks GERD, conflict in Ukraine&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/13\/last-nights-talk-shows-aboul-gheit-talks-gerd-conflict-in-ukraine\/\">\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\/13\/last-nights-talk-shows-aboul-gheit-talks-gerd-conflict-in-ukraine\/&title=Last Night\u2019s Talk Shows: Aboul Gheit talks GERD, conflict in Ukraine\">\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+Aboul+Gheit+talks+GERD%2C+conflict+in+Ukraine+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F13%2Flast-nights-talk-shows-aboul-gheit-talks-gerd-conflict-in-ukraine%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\/13\/last-nights-talk-shows-aboul-gheit-talks-gerd-conflict-in-ukraine\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547207\" class=\"content-area-description single-story post-547207 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-ahmed-aboul-gheit tag-arab-league tag-enterpriseam tag-last-nights-talk-shows tag-russia-ukraine-conflict wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Leading the airwaves yesterday<\/strong>:<strong> Arab League Secretary General Ahmed Aboul <\/strong><strong>Gheit <\/strong>discussed the GERD crisis, as well as the war in Ukraine and its impact on the region, in a wide-ranging interview with Ala Mas\u2019ouleety\u2019s Ahmed Moussa (<a href=\"https:\/\/www.youtube.com\/watch?v=X2nM1oeodt4\">watch, runtime: 1:39:33<\/a>)<\/p>\n<p><strong>Ethiopia wants to \u201csuffocate downstream countries Egypt and Sudan'' <\/strong>by filling the Grand Ethiopian Renaissance Dam without having reached an agreement with Cairo and Khartoum, Aboul Gheit told Moussa (<a href=\"https:\/\/www.youtube.com\/watch?v=75YIbrT8J7Q\">watch, runtime: 3:06<\/a>). The way the UN Security Council has dealt with the Ethiopian dam crisis is \u201cregrettable\u201d, he added.<\/p>\n<p><strong>The council has <\/strong><strong><a href=\"https:\/\/enterprise.press\/stories\/2021\/09\/16\/turkey-could-hand-over-egyptian-fugitives-un-security-council-speaks-on-gerd-53686\/\">repeatedly declined<\/a><\/strong><strong> to weigh in on the dispute<\/strong> despite <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c28be1bd-111f-4e31-9b51-ba99b8e5e705\">concerted lobbying<\/a> by Egypt and Sudan for a stronger stance against Ethiopia.<\/p>\n<p><strong>The crisis in Ukraine is the driving force behind US President Joe Biden\u2019s <\/strong><strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-11\/biden-says-any-saudi-visit-would-focus-on-more-than-energy\">mooted visit<\/a><\/strong><strong> to the region,<\/strong> Aboul Gheit says (<a href=\"https:\/\/www.youtube.com\/watch?v=fHJyrEF4nTI\">watch, runtime: 6:00<\/a>), as Western allies attempt to shore up energy supplies to Europe to replace Russian fossil fuels. Europe is currently reliant on Russia for <a href=\"https:\/\/www.energymonitor.ai\/policy\/how-can-the-eu-end-its-dependence-on-russian-gas\">some 40%<\/a> of its natural gas. \u201cRegions able to provide gas supplies [to Europe] are the Gulf, West Africa and Algeria or Latin America\u2019s Venezuela,\u201d according to Aboul Gheit.<\/p>\n<p><strong>MEANWHILE IN TOURISM- <\/strong><\/p>\n<ul>\n<li><strong>State-owned h<\/strong><strong>otels <\/strong><strong>do allow women under 40 to stay alone<\/strong>, Assistant Tourism Minister Abdel Fattah Al Assi told Salet El Tahrir (<a href=\"https:\/\/www.youtube.com\/watch?v=9KZqsbQyrtc\">watch, runtime: 11:48<\/a>), in response to a debate on social media over hotels that allegedly have a policy of turning unaccompanied women away.<\/li>\n<li><strong>Unaccompanied children under the age of 16 must show ID to enter archaeological sites and museums<\/strong> on weekends and national holidays, Secretary-General of the Supreme Council for Antiquities Mostafa Waziri told El Hekaya\u2019s Amr Adib (<a href=\"https:\/\/www.youtube.com\/watch?v=NF7ua1siWDk\">watch, runtime: 7:58<\/a>). The decision comes after a group of boys <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f4ed5811-e41b-413b-97c1-915639d2abcc\">harassed two female tourists<\/a> at the Giza Pyramids in May.<\/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\/ahmed-aboul-gheit\/\">Ahmed Aboul Gheit<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/arab-league\/\">Arab League<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/russia-ukraine-conflict\/\">Russia-Ukraine conflict<\/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=\"547208\" 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 stk-block-column stk-column stk-block stk-ey1crv3\" data-v=\"4\" data-block-id=\"ey1crv3\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-ey1crv3-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-ey1crv3-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\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/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-gyc1z2n\" data-v=\"4\" data-block-id=\"gyc1z2n\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-gyc1z2n-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-gyc1z2n-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\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27487.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Live More<\/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-0hxfqne\" data-v=\"4\" data-block-id=\"0hxfqne\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-0hxfqne-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-0hxfqne-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\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" 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-dlh0f2m\" data-v=\"4\" data-block-id=\"dlh0f2m\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-dlh0f2m-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-dlh0f2m-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 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"547209\" 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=\"547209\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/13\/egypt-in-the-news-the-sound-of-silence\/\">\r\n                            Egypt in the News: The sound of silence                        <\/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\/13\/egypt-in-the-news-the-sound-of-silence\/\" 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\/13\/egypt-in-the-news-the-sound-of-silence\/')\">\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\/13\/egypt-in-the-news-the-sound-of-silence\/\">\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 in the News: The sound of silence&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/13\/egypt-in-the-news-the-sound-of-silence\/\">\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\/13\/egypt-in-the-news-the-sound-of-silence\/&title=Egypt in the News: The sound of silence\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+in+the+News%3A+The+sound+of+silence+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F13%2Fegypt-in-the-news-the-sound-of-silence%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\/13\/egypt-in-the-news-the-sound-of-silence\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547209\" class=\"content-area-description single-story post-547209 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Hear that?<\/strong> It\u2019s the sound of the foreign press with nothing to say about Egypt this morning. Take a breather and enjoy it while you can.<\/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=\"547210\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"547211\" 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=\"547211\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/13\/alameda-partners-with-medtronic-egypt-for-state-of-the-art-equipment\/\">\r\n                            Alameda partners with Medtronic Egypt for state-of-the-art equipment                        <\/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\/13\/alameda-partners-with-medtronic-egypt-for-state-of-the-art-equipment\/\" 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\/13\/alameda-partners-with-medtronic-egypt-for-state-of-the-art-equipment\/')\">\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\/13\/alameda-partners-with-medtronic-egypt-for-state-of-the-art-equipment\/\">\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=Alameda partners with Medtronic Egypt for state-of-the-art equipment&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/13\/alameda-partners-with-medtronic-egypt-for-state-of-the-art-equipment\/\">\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\/13\/alameda-partners-with-medtronic-egypt-for-state-of-the-art-equipment\/&title=Alameda partners with Medtronic Egypt for state-of-the-art equipment\">\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=Alameda+partners+with+Medtronic+Egypt+for+state-of-the-art+equipment+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F13%2Falameda-partners-with-medtronic-egypt-for-state-of-the-art-equipment%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\/13\/alameda-partners-with-medtronic-egypt-for-state-of-the-art-equipment\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547211\" class=\"content-area-description single-story post-547211 post type-post status-publish format-standard hentry category-also-on-our-radar tag-alameda-healthcare tag-also-on-our-radar tag-enterpriseam tag-hajj tag-legislation tag-medtronic-egypt tag-senate tag-sustainable-development-plan tag-unhcr wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Alameda hospitals to get new equipment + operating systems in partnership with <\/strong><strong>Medtronic: <\/strong><a href=\"https:\/\/www.alameda-hc.com\/\">Alameda Healthcare<\/a> has signed an MoU with the Egyptian arm of medtech firm <a href=\"https:\/\/www.medtronic.com\/me-en\/index.html\">Medtronic<\/a> that will give Alameda hospitals access to Medtronic\u2019s full portfolio of \u201ccutting-edge medical devices, including newly launched and premium products,\u201d according to a press release by <a href=\"https:\/\/ent.news\/2022\/6\/Alameda-NR-Medtronic-MoU-E-.pdf\">Alameda (pdf)<\/a>. The agreement will also see Alameda\u2019s four Cairo hospitals use Medtronic management software to boost their operational efficiency.<\/p>\n<p><strong>Focus on neurosurgery:<\/strong> Under the agreement, new Medtronic spinal surgery tech will be installed at Alameda\u2019s As Salam International Hospital in Maadi, \u201ccontributing to [Alameda\u2019s] growth and development as a center of excellence in the field of neurosurgery,\u201d the release read.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>UNHCR <\/strong>and the <strong>Health Ministry <\/strong>have opened mental health clinics and inpatient wards in <strong>Cairo<\/strong> and <strong>Alexandria<\/strong>. The UN refugee agency donated 100 new beds to Abbaseya hospital, and gave office and electronic equipment to outpatient clinics. (<a href=\"https:\/\/www.unhcr.org\/eg\/34213-abbasia-inauguration.html\">UNHCR<\/a>)<\/li>\n<li><strong>President Abdel Fattah El Sisi has signed into law a <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2ceb1a6b-f9f3-49df-aa6d-a1112cf3e199\">bill regulating Hajj<\/a><\/strong> <strong>trips<\/strong> and setting up an online portal for the pilgrimage. (<a href=\"https:\/\/mena.org.eg\/ar\/news\/dbcall\/table\/webnews\/id\/9618766\">MENA<\/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\/alameda-healthcare\/\">Alameda Healthcare<\/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\/hajj\/\">hajj<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation\/\">legislation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/medtronic-egypt\/\">Medtronic Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/senate\/\">Senate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sustainable-development-plan\/\">sustainable development plan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/unhcr\/\">UNHCR<\/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=\"547212\" 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=\"547212\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/13\/el-erian-points-fingers-at-fed-for-us-inflation-as-recession-clouds-build\/\">\r\n                            El Erian points fingers at Fed for US inflation as recession clouds build                        <\/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\/13\/el-erian-points-fingers-at-fed-for-us-inflation-as-recession-clouds-build\/\" 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\/13\/el-erian-points-fingers-at-fed-for-us-inflation-as-recession-clouds-build\/')\">\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\/13\/el-erian-points-fingers-at-fed-for-us-inflation-as-recession-clouds-build\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=El Erian points fingers at Fed for US inflation as recession clouds build&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/13\/el-erian-points-fingers-at-fed-for-us-inflation-as-recession-clouds-build\/\">\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\/13\/el-erian-points-fingers-at-fed-for-us-inflation-as-recession-clouds-build\/&title=El Erian points fingers at Fed for US inflation as recession clouds build\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=El+Erian+points+fingers+at+Fed+for+US+inflation+as+recession+clouds+build+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F13%2Fel-erian-points-fingers-at-fed-for-us-inflation-as-recession-clouds-build%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\/13\/el-erian-points-fingers-at-fed-for-us-inflation-as-recession-clouds-build\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547212\" class=\"content-area-description single-story post-547212 post type-post status-publish format-standard hentry category-planet-finance tag-economy tag-enterpriseam tag-financial-markets tag-mohamed-el-erian tag-oil-and-gas tag-planet-finance tag-qatar tag-saudi-arabia tag-saudi-telecom-company tag-totalenergies tag-us wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>The Fed missed the boat on inflation, says El Erian:<\/strong> Allianz Chief Economist Mohamed El Erian told <a href=\"https:\/\/www.cbsnews.com\/news\/mohamed-el-erian-face-the-nation-transcript-06-12-2022\/\">CBS\u2019s \u201cFace The Nation\u201d<\/a> that 40-year high inflation in the US could have been avoided had the Federal Reserve acted earlier. The Fed \u201cmischaracterized what inflation is and it fell behind,\u201d El Erian said. \u201cAnd the lessons of history is, once you fall behind, you lose the ability of the first best response.\u201d<\/p><p><strong>More price hikes and another 50-bps cut to come? <\/strong>\u201cWe may well get to 9% at this rate,\u201d El Erian said, days after US consumer prices <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fb46ba56-9871-43e8-819e-c4323be70846\">rose to 8.6%<\/a> last month, their highest rate since November 1981. \u201cWe should look at the Fed to increase by at least 50 basis points this coming week,\u201d he said. Traders now see a 50% chance that the Fed will raise interest rates by an unusually large 75 bps when it meets on Tuesday and Wednesday this week.<\/p><p><strong>The US will likely fall into recession next year,<\/strong> according to nearly 70% of economists polled by the <a href=\"https:\/\/www.ft.com\/content\/53fcbbf1-39e3-483c-a6f2-b0de432ed5a3\">Financial Times<\/a>. Nearly 40% of the 49 respondents expect the US economy to enter a recession in the first half of next year, while 30% predict it to happen in the second half.<\/p><p><strong>What\u2019s a recession, technically speaking? <\/strong>It\u2019s a \u201csignificant decline in economic activity that is spread across the economy and lasts more than a few months,\u201d according to the National Bureau of Economic Research, which is tasked with declaring recessions in the US.<\/p><p><strong>Also worth noting:<\/strong><\/p><ul>\n<li><strong>Record capital increase in KSA:<\/strong> Saudi Telecom is planning to raise capital by USD 8 bn through issuing bonus shares in what will be the largest capital increase by a Saudi company. Shares rose as much as 9.8% on the news. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-12\/saudi-telecom-to-raise-capital-by-8-billion-with-bonus-shares?srnd=premium-middle-east#xj4y7vzkg\">Bloomberg<\/a>)<\/li>\n<li><strong>TotalEnergies gets 25% stake in Qatari gas megaproject:<\/strong> The oil and gas major is the first international firm to acquire a stake in Qatar\u2019s USD 30 bn LNG project, which is set to be the largest in the world. (<a href=\"https:\/\/totalenergies.com\/media\/news\/qatar-totalenergies-first-company-selected-partner-qatarenergy-giant-north-field-east\">Statement<\/a>)<\/li>\n<li><strong>Around USD 40 bn has been wiped off US companies\u2019 earnings in 1H 2022<\/strong> due to FX effects after the USD rose to its highest level since 2002. (<a href=\"https:\/\/www.ft.com\/content\/189a161c-7247-431d-83fa-f7645ee22573\">The Financial Times<\/a>)<\/li>\n<\/ul><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>10,098<\/p>\n<\/td>\n<td>\n<p>-1.4% (YTD: -15.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 18.65<\/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>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>12,322<\/p>\n<\/td>\n<td>\n<p>-2.2% (YTD: +9.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>9,628<\/p>\n<\/td>\n<td>\n<p>-0.2% (YTD: +13.4%)<\/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>3,377<\/p>\n<\/td>\n<td>\n<p>+0.1% (YTD: +5.7%)<\/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>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>3,901<\/p>\n<\/td>\n<td>\n<p>-2.9% (YTD: -0.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,318<\/p>\n<\/td>\n<td>\n<p>-2.1% (YTD: -0.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td>\n<p>3,599<\/p>\n<\/td>\n<td>\n<p>-3.4% (YTD: -16.3%)<\/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>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 122.01<\/p>\n<\/td>\n<td>\n<p>-0.9%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 8.85<\/p>\n<\/td>\n<td>\n<p>-1.3%<\/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>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,875.50<\/p>\n<\/td>\n<td>\n<p>+1.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 26,804<\/p>\n<\/td>\n<td>\n<p>-5.9% (YTD: -42.3%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 fell 1.4% at yesterday\u2019s close<\/strong> on turnover of EGP 529 mn (36.5% below the 90-day average). Local investors were net buyers. The index is down 15.5% YTD.<\/p><p><strong>In the green: <\/strong>Heliopolis Housing (+5.5%), Madinet Nasr Housing (+2.9%) and Ezz Steel (+1.1%).<\/p><p><strong>In the red: <\/strong>Eastern Company (-4.0%), Abu Qir Fertilizers (-3.3%) and Egypt Kuwait Holding-EGP (-2.7%).<\/p><p><strong>Asian markets are down across the board in early trading this morning<\/strong> and futures suggest both European indices and then Wall Street will open to a wall of red later on today.<\/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\/economy\/\">economy<\/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\/mohamed-el-erian\/\">Mohamed El Erian<\/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\/qatar\/\">Qatar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-telecom-company\/\">Saudi Telecom Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/totalenergies\/\">TotalEnergies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"547213\" 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=\"547213\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/13\/another-round-of-libyan-talks-kicks-off-in-cairo\/\">\r\n                            Another round of Libyan talks kicks off in Cairo                        <\/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\/13\/another-round-of-libyan-talks-kicks-off-in-cairo\/\" 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\/13\/another-round-of-libyan-talks-kicks-off-in-cairo\/')\">\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\/13\/another-round-of-libyan-talks-kicks-off-in-cairo\/\">\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 round of Libyan talks kicks off in Cairo&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/13\/another-round-of-libyan-talks-kicks-off-in-cairo\/\">\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\/13\/another-round-of-libyan-talks-kicks-off-in-cairo\/&title=Another round of Libyan talks kicks off in Cairo\">\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+round+of+Libyan+talks+kicks+off+in+Cairo+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F13%2Fanother-round-of-libyan-talks-kicks-off-in-cairo%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\/13\/another-round-of-libyan-talks-kicks-off-in-cairo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547213\" class=\"content-area-description single-story post-547213 post type-post status-publish format-standard hentry category-diplomacy tag-diplomacy tag-enterpriseam tag-libya tag-politics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Rival Libyan lawmakers are back in Cairo for another round of UN-brokered talks<\/strong>, which will end on 19 June, according to <a href=\"https:\/\/apnews.com\/article\/politics-africa-libya-cairo-north-003e7e05f585640be6ba199e92ea7de9\">the Associated<\/a><a href=\"https:\/\/apnews.com\/article\/politics-africa-libya-cairo-north-003e7e05f585640be6ba199e92ea7de9\">Press<\/a>. The most recent round of talks <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8c150b80-5bbd-4f4e-9fa3-45eab991598a\">concluded in April<\/a> without reaching an agreement on a way forward to national elections.<\/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\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/libya\/\">Libya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"547214\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27466.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into education in Egypt, from K-12 to post-secondary.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27480.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Monday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/blackboard\/\">\r\n                            Read Blackboard                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">10<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/tansik-system-for-private-universities-is-out\/\">\r\n                            Tansik system for private universities is out<\/a>\r\n                        <\/h3>\r\n                        \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/tansik-system-for-private-universities-is-out\/\" 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\/blackboards\/tansik-system-for-private-universities-is-out\/')\">\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\/blackboards\/tansik-system-for-private-universities-is-out\/\">\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=Tansik system for private universities is out&url=https:\/\/enterpriseam.com\/egypt\/blackboards\/tansik-system-for-private-universities-is-out\/\">\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\/blackboards\/tansik-system-for-private-universities-is-out\/&title=Tansik system for private universities is out\">\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=Tansik+system+for+private+universities+is+out+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Fblackboards%2Ftansik-system-for-private-universities-is-out%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>                    <\/div>\r\n\r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/tansik-system-for-private-universities-is-out\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/8\/university-old-1600px.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"547215\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/tansik-system-for-private-universities-is-out\/university-old-1600px-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/8\/university-old-1600px.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"university-old-1600px.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/8\/university-old-1600px.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/8\/university-old-1600px.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-547214\" class=\"content-area-description post-547214 blackboard type-blackboard status-publish has-post-thumbnail hentry tag-education tag-enterprise-blackboard tag-enterpriseam tag-higher-education-ministry tag-supreme-council-of-private-universities 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>Students applying to private universities in Egypt no longer have to face a <\/strong><strong>Tansik-style admissions process\u2026for now: <\/strong>A little over a year after its introduction, the Higher Education Ministry\u2019s Supreme Council of Private Universities decided last week to change the centralized admissions platform that imposed a Tansik-style system for private and nonprofit universities, several sources confirmed to Enterprise. The decision to change the admissions process came after the council reassessed the platform and concluded that it was not best serving the needs of universities or students, our sources said.<\/p>\n<p><strong>Refresher: What\u2019s this admissions platform we\u2019re talking about?<\/strong> The Higher Education Ministry\u2019s Supreme Council of Private Universities had launched the system in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6ecc7678-974f-47ec-b9ce-1f9a17c94073\">February of last year<\/a>, following more than a year of planning that began in early 2020, in a bid to create an administrative and regulatory platform for the admissions process. The system was also designed to end the practice of universities opening up seats to students who have the ability to pay, but do not meet the academic requirements imposed on the rest of the student body.<\/p>\n<p><strong>How did it work (or didn\u2019t rather): <\/strong>The original setup required students to apply to the platform, with the application including filling out their desired majors, their preferred university (or universities), and with their grades once they are released. The platform then assigned students to universities with high school grades being the key determinant, along with the number of places available at each faculty at each university, and the student\u2019s preferences. Students with the highest grades got first dibs, followed by those with intermediate grades, and finally the students with the lowest grades.<\/p>\n<p><strong>You can read our full in-depth explainer on the system <\/strong><strong><a href=\"https:\/\/enterprise.press\/blackboards\/govt-considers-implementing-ucas-style-enrollment-system-private-universities\/\">here<\/a><\/strong><strong>. <\/strong><\/p>\n<p><strong>The system was launched amid <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a06f1ac8-9c04-42c9-a8b0-1357306ec092\">plenty of skepticism<\/a><\/strong><strong> and concerns from students, parents, and universities alike.<\/strong> The platform\u2019s design superseded choices from students and universities by determining admissions based solely on students\u2019 final grades, which university operators were concerned would leave them short on student quotas or force them to miss out on candidates with other skills or criteria more important than academic performance. Students were also unhappy that they would be forced to wait a full academic year to reapply or transfer if they were assigned to a university they\u2019re unhappy with.<\/p>\n<p><strong>The trial appears to have failed, leading the ministry to rework the system:<\/strong> \u201cThe experiment of imposing Tansik on private universities failed, so the Supreme Council of Private Universities is working to move back to a direct admissions system,\u201d Nahda University President Hossam El Malahy told Enterprise. The experiment was meant to address issues with corruption and lack of transparency in certain universities, which the Higher Education Ministry still wants to address, but this system simply wasn\u2019t the right fit, El Malahy said. \u201cThe Tansik system is no longer present in any country around the world \u2014 it\u2019s not what is considered best practice in the world, but it\u2019s just how Egypt has been used to handling public university admissions.\u201d<\/p>\n<p><strong>So how does the admissions system work now?<\/strong> The system now more closely resembles the <a href=\"https:\/\/www.ucas.com\/\">UK\u2019s UCAS<\/a> platform, which acts as an administrative centralized admissions system, without the additional regulatory element. Students applying to private and nonprofit universities will now apply to their university of choice through the university website and that university will be responsible for registering the student\u2019s application on the portal, Supreme Council of Private Universities head Mohamed Helmy El Ghar told us. The portal will have a mirroring system wired into universities\u2019 online application portals so that the Supreme Council will be able to see applications as they are submitted and keep track of how they are processed, which will help keep the process transparent, El Malahy explained.<\/p>\n<p><strong>Students\u2019 applications will still be processed through the system\u2019s online portal, but the universities themselves will make the admissions decisions<\/strong> rather than having students allocated based purely on their grades and the number of seats available. Applicants will be required to complete entrance exams or otherwise meet requirements as determined by each institution. Universities will determine how many seats are available per faculty and department in the upcoming term (as was the case previously) and will choose which students to admit.<\/p>\n<p><strong>The council hopes that the new setup will strike the balance between oversight and flexibility:<\/strong> \u201cThis is a move to a more liberal system and is part of the general shift away from centralization,\u201d El Ghar said. The new setup will grant universities more flexibility in determining which students to accept but still gives the council oversight to ensure that universities are meeting their admissions quotas and that students are not accepted at random.<\/p>\n<p><strong>Also important to consider: The government really wants to keep Egyptian students in Egypt.<\/strong> \u201cThe Higher Education Ministry is trying out scenarios as quickly as possible to set up a good system that gives students the best chance at quality education and also helps to encourage Egyptian students to pursue an education domestically,\u201d El Malahy said.<\/p>\n<p><strong>KUDOS to the council for taking constructive feedback and actually doing something with it: <\/strong>The decision to rework the system was based on feedback, but some want a wider discussion on how to best address the admissions process. The ministry should hold a dialogue session or workshop with as many stakeholders as possible to review the system and get a clear of idea where it did and did not work, Chinese University President Ashraf El Shehi told us. \u201cIt\u2019s not necessarily that going back to an old system is best or that a complete change is best, but the decision makers need to listen to a broad range of experiences to better understand how to move forward.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top education stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>CIRA could issue our first future flow securitization by July:<\/strong> EGX-listed private sector education outfit CIRA could issue the first tranche of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f78500b4-13c4-4259-8aa7-be70e7514995\">EGP 2 bn of future flow securitized bonds<\/a> next month.<\/li>\n<li><strong>Education investments in the pipeline?<\/strong> The education and higher education ministries <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7cd9a361-7664-491a-8579-5bd3b45d50ed\">will come up<\/a> with a list of state-owned schools and universities that could be offered to private investors.<\/li>\n<li><strong>New private university? <\/strong>Egyptian Modern Education Systems <a href=\"\">plans to (pdf)<\/a> set up a private university in one of Egypt\u2019s new cities and acquire a number of schools.<\/li>\n<li><strong>NU + CIB to design sustainable financing training program:<\/strong> Nile University and CIB are <a href=\"\">teaming up (pdf)<\/a> to design the first academic program for sustainable financing for small and medium enterprises (SMEs).<\/li>\n<li><strong>El Sewedy, Amity University to set up local tech university: <\/strong>El Sewedy Education and the Dubai branch of India\u2019s Amity University have <a href=\"\">agreed (pdf)<\/a> to establish El Sewedy University of Technology (SUT) in 10th of Ramadan City, a <a href=\"\">press release (pdf)<\/a>by ElSewedy read. Admissions are set to open for the 2023-2024 academic year.<\/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\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/higher-education-ministry\/\">Higher Education Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/supreme-council-of-private-universities\/\">Supreme Council of Private Universities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"547216\" 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\/13\/547216\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547216\" class=\"content-area-description single-story post-547216 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>14-15 June (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>15-18 June (Wednesday- Saturday): <a href=\"https:\/\/2022.afreximbankevents.com\/en-home\/\">Afreximbank annual meetings<\/a>, St. Regis Almasa Hotel, new capital, Egypt.<\/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> chaired by CBE Governor Tarek Amer, Washington, DC.<\/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. We distinguish above between the actual holiday and its observance.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":547195,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-547194","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"edc60613-3729-4796-8ab4-627e4cf83243","teaser":"","photo_url":"https:\/\/ent.news\/2022\/6\/18.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Maait: Ukraine war could cost us another USD 10 bn in wheat + oil imports. - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/maait-ukraine-war-could-cost-us-another-usd-10-bn-in-wheat-oil-imports\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Maait: Ukraine war could cost us another USD 10 bn in wheat + oil imports.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/maait-ukraine-war-could-cost-us-another-usd-10-bn-in-wheat-oil-imports\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T21:44:38+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/18.jpg?fit=%2C&ssl=1\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/maait-ukraine-war-could-cost-us-another-usd-10-bn-in-wheat-oil-imports\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/maait-ukraine-war-could-cost-us-another-usd-10-bn-in-wheat-oil-imports\/\",\"name\":\"Maait: Ukraine war could cost us another USD 10 bn in wheat + oil imports. - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/maait-ukraine-war-could-cost-us-another-usd-10-bn-in-wheat-oil-imports\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/maait-ukraine-war-could-cost-us-another-usd-10-bn-in-wheat-oil-imports\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/18.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2022-06-13T04:57:09+00:00\",\"dateModified\":\"2025-12-15T21:44:38+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/maait-ukraine-war-could-cost-us-another-usd-10-bn-in-wheat-oil-imports\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/issues\/maait-ukraine-war-could-cost-us-another-usd-10-bn-in-wheat-oil-imports\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/maait-ukraine-war-could-cost-us-another-usd-10-bn-in-wheat-oil-imports\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/18.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/18.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/maait-ukraine-war-could-cost-us-another-usd-10-bn-in-wheat-oil-imports\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Issues\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/AMarchives\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Maait: Ukraine war could cost us another USD 10 bn in wheat + oil imports.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Maait: Ukraine war could cost us another USD 10 bn in wheat + oil imports. - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/issues\/maait-ukraine-war-could-cost-us-another-usd-10-bn-in-wheat-oil-imports\/","og_locale":"en_US","og_type":"article","og_title":"Maait: Ukraine war could cost us another USD 10 bn in wheat + oil imports.","og_url":"https:\/\/enterpriseam.com\/egypt\/issues\/maait-ukraine-war-could-cost-us-another-usd-10-bn-in-wheat-oil-imports\/","og_site_name":"EnterpriseAM Egypt","article_modified_time":"2025-12-15T21:44:38+00:00","twitter_card":"summary_large_image","twitter_image":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/18.jpg?fit=%2C&ssl=1","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/maait-ukraine-war-could-cost-us-another-usd-10-bn-in-wheat-oil-imports\/","url":"https:\/\/enterpriseam.com\/egypt\/issues\/maait-ukraine-war-could-cost-us-another-usd-10-bn-in-wheat-oil-imports\/","name":"Maait: Ukraine war could cost us another USD 10 bn in wheat + oil imports. - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/maait-ukraine-war-could-cost-us-another-usd-10-bn-in-wheat-oil-imports\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/maait-ukraine-war-could-cost-us-another-usd-10-bn-in-wheat-oil-imports\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/18.jpg?fit=%2C&ssl=1","datePublished":"2022-06-13T04:57:09+00:00","dateModified":"2025-12-15T21:44:38+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/maait-ukraine-war-could-cost-us-another-usd-10-bn-in-wheat-oil-imports\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/issues\/maait-ukraine-war-could-cost-us-another-usd-10-bn-in-wheat-oil-imports\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/maait-ukraine-war-could-cost-us-another-usd-10-bn-in-wheat-oil-imports\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/18.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/18.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/maait-ukraine-war-could-cost-us-another-usd-10-bn-in-wheat-oil-imports\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Issues","item":"https:\/\/enterpriseam.com\/egypt\/AMarchives\/"},{"@type":"ListItem","position":3,"name":"Maait: Ukraine war could cost us another USD 10 bn in wheat + oil imports."}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}}]}},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/547194","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/issue"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/547194\/revisions"}],"predecessor-version":[{"id":547224,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/547194\/revisions\/547224"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/547195"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=547194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=547194"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=547194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}