{"id":547266,"date":"2022-06-15T03:59:19","date_gmt":"2022-06-15T03:59:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=547266"},"modified":"2025-12-15T21:46:27","modified_gmt":"2025-12-15T21:46:27","slug":"egypt-to-sign-gas-agreement-with-the-eu-israel-today-plus-its-the-biggest-fed-day-since-march-20","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-to-sign-gas-agreement-with-the-eu-israel-today-plus-its-the-biggest-fed-day-since-march-20\/","title":{"rendered":"Egypt to sign gas agreement with the EU + Israel today. \r\nPlus: It\u2019s the biggest Fed day since March '20"},"content":{"rendered":"<section id=\"547268\" 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=\"547268\">\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\/15\/this-morning-egypt-to-sign-gas-agreement-with-eu-israel-today-its-fed-day\/\">\r\n                            THIS MORNING: Egypt to sign gas agreement with EU + Israel today; It\u2019s Fed day                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/this-morning-egypt-to-sign-gas-agreement-with-eu-israel-today-its-fed-day\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/this-morning-egypt-to-sign-gas-agreement-with-eu-israel-today-its-fed-day\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/this-morning-egypt-to-sign-gas-agreement-with-eu-israel-today-its-fed-day\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=THIS MORNING: Egypt to sign gas agreement with EU + Israel today; It\u2019s Fed day&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/this-morning-egypt-to-sign-gas-agreement-with-eu-israel-today-its-fed-day\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/this-morning-egypt-to-sign-gas-agreement-with-eu-israel-today-its-fed-day\/&title=THIS MORNING: Egypt to sign gas agreement with EU + Israel today; It\u2019s Fed day\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=THIS+MORNING%3A+Egypt+to+sign+gas+agreement+with+EU+%2B+Israel+today%3B+It%E2%80%99s+Fed+day+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F15%2Fthis-morning-egypt-to-sign-gas-agreement-with-eu-israel-today-its-fed-day%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/this-morning-egypt-to-sign-gas-agreement-with-eu-israel-today-its-fed-day\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547268\" class=\"content-area-description single-story post-547268 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-energy tag-enterpriseam tag-eu tag-financial-markets tag-interest-rates tag-israel tag-joe-biden tag-oil-and-gas tag-saudi-arabia 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>to another commodities-heavy issue. Energy and wheat continue to drive the conversation at home and abroad. And with inflation being where it is, the all too critical Fed meeting today is continuing to weigh on markets, so strap in.<\/p><p><strong>THE BIG STORY AT HOME- Is a potential gas export agreement with us, Israel and the EU coming today? <\/strong>EU Commission President Ursula von der Leyen and <a href=\"https:\/\/www.timesofisrael.com\/liveblog_entry\/amid-eu-gas-talks-israels-energy-minister-heads-to-cairo\/\">Israeli energy minister Karine Elharrar<\/a> will be in Cairo today to potentially seal an agreement that would see an increase in the export of Israeli gas to Europe through our LNG facilities. We break down the details in the news well below.<\/p><p><a id=\"tldr-story-07\" class=\"content-anchor\"><\/a> <strong>WATCH THIS SPACE- US, EU energy diplomacy will feature heavily this summer as US <\/strong><strong>President Joe Biden Joe is reportedly landing in KSA in mid-July<\/strong> for two days of meetings with Saudi officials, including with Crown Prince Mohammed Bin Salman, <a href=\"https:\/\/twitter.com\/mitchellreports\/status\/1536538072028008448\">NBC<\/a> reported, citing three sources with knowledge of the matter. Uncle Joe\u2019s plans to visit Riyadh come as his administration fights to get domestic fuel prices under control, which have soared on the back of the war in Ukraine. Relations between the two countries have been strained since the beginning of Biden\u2019s presidency when he labelled the country a \u201cpariah\u201d due to the 2018 <a href=\"https:\/\/enterprise.press\/stories\/2018\/10\/31\/how-the-khashoggi-case-could-spell-trouble-for-egypts-economy\/\">murder of Saudi journalist Jamal Khashoggi<\/a>.<\/p><p><strong>Also on the agenda: Saudi-Israeli rapprochement.<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3f147bd4-6ff2-4fcd-b3a7-2eb786e619c7\">Axios reported last month<\/a> that Biden could use the trip to push forward his administration\u2019s efforts to get Saudi Arabia and Israel to normalize ties. The plan \u2014 which reportedly involves finalizing the transfer of Tiran and Sanafir to Saudi \u2014 has reportedly <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9d0c041d-49cd-423c-ae4e-b7300912fd79\">received the green light in Israel<\/a>, potentially putting Biden in reach of his first major foreign policy breakthrough.<\/p><p><strong>It\u2019s a mini regional gathering in Jeddah:<\/strong> Biden will also meet with President Abdel Fattah El Sisi during his stay in Jeddah, as well as leaders of the other GCC nations, Iraq and Jordan, the president\u2019s aides told <a href=\"https:\/\/www.nytimes.com\/2022\/06\/14\/us\/politics\/biden-saudi-arabia-israel-trip.html?searchResultPosition=2\">the New York Times<\/a>.<\/p><hr class=\"grey-line\"><p><a id=\"tldr-story-02\" class=\"content-anchor\"><\/a> <strong>All eyes will be on the Fed this afternoon<\/strong> as the central bank makes perhaps its biggest policy decision since it intervened to stop the covid-induced market meltdown in March 2020. Following last week\u2019s horrible inflation data, the market\u2019s base case is now for policymakers to agree to a huge 75-bps rate hike \u2014 a step that was almost unthinkable just a few days ago, and if it comes to pass would be the biggest increase since 1994.<\/p><p><strong>Market volatility continued yesterday:<\/strong> US stocks fell further into a bear market yesterday and the bond sell-off continued as traders awaited the Fed\u2019s decision. The S&amp;P 500 saw its fifth-straight day of losses, ending the day 0.4% in the red and extending its descent further into bear territory. In the bond market, yields on US two-years hitting their highest level since 2007 while 10-years rose towards 3.5%, a level not seen since 2011.<\/p><p><strong>If history is anything to go by, the bears are here to stay:<\/strong> The current S&amp;P 500 selloff \u2014 which has left the index 22% beneath its January peak \u2014 could take a lot longer to bottom out before recovering, analysts say, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-14\/wall-street-s-latest-bear-market-may-be-here-to-stay-for-a-while?srnd=premium-middle-east\">Bloomberg<\/a>. \u201cThis drawdown could extend to 35% and last over a year before the trough is reached,\u201d an analyst at Saxo Bank wrote in a note, comparing the current downturn to the dotcom bust and the bear market triggered by the oil crisis in 1973.<\/p><p><strong>Chinese shares are alone in seeing gains this morning<\/strong>, with most other Asian indexes in the red ahead of the Fed meeting. Stock futures have US benchmarks rising at the opening bell, while over in Europe only the FTSE 100, the Euro Stoxx and the Dax will open higher.<\/p><p><strong>Everyone in the global business press is Fed-watching this morning:<\/strong> <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-14\/fed-mulls-game-changer-to-jolt-inflation-decision-day-guide?srnd=premium\">Bloomberg<\/a> | <a href=\"https:\/\/www.ft.com\/content\/422cebd8-edda-4de3-abc2-185bc253dbd2\">FT<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/feds-stern-message-amplifies-worries-about-stock-valuations-11655243533?mod=hp_lead_pos1\">WSJ<\/a> | <a href=\"https:\/\/www.cnbc.com\/2022\/06\/13\/stock-market-futures-open-to-close-news.html\">CNBC<\/a> | <a href=\"https:\/\/www.reuters.com\/markets\/europe\/futures-edge-higher-after-mondays-rout-wall-street-2022-06-14\/\">Reuters<\/a> | <a href=\"https:\/\/apnews.com\/article\/stock-market-today-june-14-a5787764c28d57d02b9590b3ee3f4efa\">Associated Press<\/a>.<\/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>WHAT\u2019S HAPPENING TODAY- <\/strong><\/p><p><strong>The African Export-Import Bank\u2019s (Afreximbank) <\/strong><strong><a href=\"https:\/\/2022.afreximbankevents.com\/en-home\/\">annual meetings<\/a><\/strong><strong> will take place today<\/strong> 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>FOR TOMORROW- <\/strong><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> takes place at Grand Nile Tower Hotel tomorrow.<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>The first workshop in the government\u2019s public consultations on its ambitious <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0894c99e-e18e-473e-a869-64812c50988b\">state ownership policy document<\/a><\/strong><strong> begins next Sunday<\/strong>, according to the <a href=\"http:\/\/eparticipation.idsc.gov.eg\/?fbclid=IwAR0roLUuQGFnSW2sa39MgFCj0jUqiG6_A-_Kya6SN4IhBJNhIqbHzMv5wdw\">online platform<\/a> for the consultations. Every Sunday and Tuesday will see workshops on specific industries, starting with an agriculture-focused workshop next Sunday and a food industries-focused workshop on Tuesday. Each Thursday is reserved for workshops with the House of Representatives or the Senate, along with think tanks.<\/p><p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"web-image\"><img decoding=\"async\" src=\"\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education.<\/p><p><strong>In today\u2019s issue: <\/strong>We sit down with Ahmed Ashour, co-founder and CEO of infrastructure management platform Pylon, to discuss the ins and outs of how the company\u2019s data-driven software is bringing more efficiency to our traditional infrastructure \u2014 electricity and water distribution \u2014 and helping reduce substantial revenue losses.<\/p><div class=\"stand-out\">\n<p><strong>***<\/strong><\/p>\n<p>WE\u2019RE LOOKING FOR SMART, TALENTED PEOPLE to help us build some very coo<strong>l new <\/strong><strong>things.<\/strong> Today, we run two daily publications, five weekly industry verticals, a monthly newsletter designed to make our readers feel just a bit smarter.<\/p>\n<p><strong>We have tons more in the pipeline \u2014 come help us build new publications.<\/strong> We offer the chance to work in a fast-paced newsroom on a broad range of topics and in a variety of formats. Our goal is simple: <strong>To create value for our growing community of &gt;199k readers by telling stories that matter.<\/strong><\/p>\n<p><strong>We\u2019re looking for editors who want to run publications and teams, editors to help reporters craft stories and talented reporters<\/strong>. Egyptian and foreign nationals alike are welcome to apply. So are job-switchers: If you\u2019re an equities analyst tired of the rat race, we\u2019re a great place to come work.<\/p>\n<p><strong>Apply directly to <\/strong><strong><a href=\"mailto:jobs@enterprisemea.com\">jobs@enterprisemea.com<\/a><\/strong><strong> and mention Patrick in your subject line. <\/strong><\/p>\n<p><strong><a href=\"https:\/\/enterprise.press\/2022\/04\/28\/come-work-us-hiring-reporters-editors-new-existing-products\/\">Or hit this link for more information.<\/a><\/strong> It\u2019s worth it \u2014 trust us.<\/p>\n<p><strong>***<\/strong><\/p><\/div>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/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\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/joe-biden\/\">Joe Biden<\/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\/saudi-arabia\/\">Saudi Arabia<\/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=\"547269\" 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=\"547269\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/547269\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547269\" class=\"content-area-description single-story post-547269 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\/6\/SOMA-ENTERPRISE-STAYREDIT4-1600px-1.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n<p>Experience the Bay Life Rentals<\/p>\n<p>A new era of holiday magic provides a first-class selection of luxurious vacation rentals with a holistic luxury concierge service, expertly combining personalized hospitality with a refined local touch to transform your vacation into a one-of-a-kind experience.<\/p>\n<p>Book now: <a href=\"https:\/\/holidays.somabay.com\/stayr\/\">https:\/\/holidays.somabay.com\/stayr\/<\/a> or call +2016390<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"547270\" 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=\"547270\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/europe-knocked-we-answered\/\">\r\n                            Europe knocked. We answered.                        <\/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\/15\/europe-knocked-we-answered\/\" 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\/15\/europe-knocked-we-answered\/')\">\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\/15\/europe-knocked-we-answered\/\">\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=Europe knocked. We answered.&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/europe-knocked-we-answered\/\">\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\/15\/europe-knocked-we-answered\/&title=Europe knocked. We answered.\">\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=Europe+knocked.+We+answered.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F15%2Feurope-knocked-we-answered%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\/15\/europe-knocked-we-answered\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547270\" class=\"content-area-description single-story post-547270 post type-post status-publish format-standard hentry category-energy tag-eastern-mediterranean-gas-forum tag-energy tag-enterpriseam tag-eu tag-israel 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, Israel and the EU could sign an agreement to increase gas export <\/strong><strong>across the Mediterranean in Cairo today<\/strong>. EU Commission President Ursula von der Leyen and <a href=\"https:\/\/www.timesofisrael.com\/liveblog_entry\/amid-eu-gas-talks-israels-energy-minister-heads-to-cairo\/\">Israeli energy minister Karine Elharrar<\/a> will be in the capital today to seal the agreement, which is expected to pave the way for more Israeli gas to be exported to Europe via Egypt\u2019s LNG facilities. \u201cTomorrow we\u2019ll take an important step, with the signing of a trilateral agreement on gas between Israel, the EU and Egypt,\u201d von der Leyen wrote on <a href=\"https:\/\/bit.ly\/3n6eNdH\">Twitter<\/a> yesterday following a meeting with Israeli PM Naftali Bennett.<\/p>\n<p><strong>Expect to hear more details later today:<\/strong> Draft documents <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fb46ba56-9871-43e8-819e-c4323be70846\">picked up by the press<\/a> have suggested that the EU could help finance new energy infrastructure \u2060\u2014 which would come in handy as the government solicits funds for <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/248f9feb-5ba0-4777-b6a8-e910c3e8cc67\">new LNG terminals<\/a> \u2060\u2014 and work with Egypt and Israel to curb methane gas emissions.<\/p>\n<p><strong>The signing will coincide with a meeting of the<\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/721b0df8-87fd-400e-af60-663496bde9e8\">East Mediterranean Gas Forum<\/a><\/strong><strong> (EMGF)<\/strong>, which will bring together officials from the eight founding countries, as well as observers the EU, the US and the World Bank.<\/p>\n<p><strong>This is precisely what we had been banking on as far as our regional gas hub ambitions go: <\/strong>Since its inception, the EMGF has been a key foreign policy initiative of Cairo \u2014 where the forum is headquartered \u2014 that would see us be the LNG export hub for the region\u2019s gas reserves. Apart from Israel, Egypt has agreements with Cyprus and Greece on pipelines that would see their gas sent to our facilities for re-export.<\/p>\n<p><strong>Israel has ambitions to become a regional gas hub of its own:<\/strong> The EU is continuing to study the planned EastMed pipeline, which would ship 10 bn cubic meters of Israeli gas a year from the Mediterranean straight to Greece, von der Leyen <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-14\/european-union-working-to-forge-gas-and-power-ties-with-israel?sref=mmeFTDW1\">said yesterday<\/a>.<\/p>\n<p><strong>Gazprom reminded us yesterday of why the EU is so keen for EastMed gas:<\/strong> The Russian gas giant \u2014 which provides around 40% of Europe\u2019s consumption \u2014 curbed supplies through the major Nord Stream 1 pipeline by 40% yesterday, <a href=\"https:\/\/twitter.com\/GazpromEN\/status\/1536680482842234887?cxt=HHwWjsCykb2wsdMqAAAA\">blaming Siemens<\/a> for malfunctions at its Baltic station. Russia has already cut off gas supplies to the Netherlands, Denmark, Poland and Bulgaria for failing to pay in RUB, threatening to intensify Europe\u2019s energy crisis at a time when it is trying to reduce its reliance on Russian hydrocarbons.<\/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\/eastern-mediterranean-gas-forum\/\">Eastern Mediterranean Gas Forum<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"547271\" 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=\"547271\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/egypts-fdi-might-outdo-much-of-the-world-in-2022\/\">\r\n                            Egypt\u2019s FDI might outdo much of the world in 2022                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/egypts-fdi-might-outdo-much-of-the-world-in-2022\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/egypts-fdi-might-outdo-much-of-the-world-in-2022\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/egypts-fdi-might-outdo-much-of-the-world-in-2022\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt\u2019s FDI might outdo much of the world in 2022&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/egypts-fdi-might-outdo-much-of-the-world-in-2022\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/egypts-fdi-might-outdo-much-of-the-world-in-2022\/&title=Egypt\u2019s FDI might outdo much of the world in 2022\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt%E2%80%99s+FDI+might+outdo+much+of+the+world+in+2022+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F15%2Fegypts-fdi-might-outdo-much-of-the-world-in-2022%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/egypts-fdi-might-outdo-much-of-the-world-in-2022\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547271\" class=\"content-area-description single-story post-547271 post type-post status-publish format-standard hentry category-economy tag-economy tag-enterpriseam tag-fdi tag-investment-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>Egypt saw foreign direct investment inflows <\/strong><strong>fall 12% in 2021 but remained the se<\/strong><strong>cond-largest recipient of FDI in Africa after South Africa<\/strong>, according to the UN. Figures in the 2022 <a href=\"\">World Investment Report (pdf)<\/a> show that the country received USD 5.12 bn of FDI last year, down from USD 5.9 bn in 2020. Accounting for the USD 367 mn in outflows, Egypt received net FDI of USD 4.8 bn during the year, down from USD 5.5 bn in 2021.<\/p>\n<p><strong>FDI had been on an upwards trend until the pandemic hit<\/strong>, rising from USD 4.3 bn in 2013 to USD 9 bn in 2019.<\/p>\n<p><strong>Signs are looking more promising this year<\/strong>, with <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce28f2c9-69b3-4c78-b2ab-1eb5d194e101\">USD 22 bn in Gulf money<\/a> expected to enter the country in what the report says \u201cmay boost FDI going forward.\u201d The UAE, Saudi Arabia and Qatar pledged to provide bns of USD in investments and central bank deposits earlier this year to provide emergency liquidity and economic support to mitigate the fallout from Russia\u2019s war in Ukraine.<\/p>\n<p><strong>Greenfield projects have begun to recover: <\/strong>The value of greenfield projects more than tripled to USD 5.6 bn last year, but remained far below the USD 13.7 bn pre-pandemic in 2019. Sixty-five new greenfield projects were announced during the year, up from 52 the year before but below the 140 seen in 2019 before the pandemic. The report name-checks Abu Dhabi-based Reportage Properties\u2019 <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/299368de-5284-46f2-a7af-601797d487a0\">USD 1.5 bn<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/299368de-5284-46f2-a7af-601797d487a0\">real estate project<\/a> with Al Ahly Sabbour as one of the major greenfield investments announced last year.<\/p>\n<p><strong>The Madbouly government has also been on a drive for fresh FDI<\/strong>, with officials meeting with <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f6da0c69-9796-4dd2-8374-065449b7093f\">foreign<\/a> and<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/67794c02-4c1b-4d65-867d-863f039e6ccd\">Arab investors<\/a> in the past few weeks under efforts to promote the country as an investment-friendly destination as the state doubles down on its privatization push.<\/p>\n<p><strong>This could see us buck a global FDI decline in 2022:<\/strong> Global greenfield project numbers have already fallen 21% in 1Q and the trend looks set to continue as the war in Ukraine, rising interest rates, and increasing fears of recession in the US and Europe weigh on the global economy. \u201cThe fallout of the war in Ukraine with the triple food, fuel and finance crises, along with the ongoing covid-19 pandemic and climate disruption, are adding stresses, particularly in developing countries,\u201d the report wrote. Investor uncertainty and risk aversion could also put \u201csignificant downward pressure\u201d on global FDI this year, it adds.<\/p>\n<p><strong>But until then, flows into Africa more than doubled to USD 83 bn in 2021<\/strong> though much of this was due to a single transaction, without which FDI growth would have been more moderate. European investors remain the largest holders of foreign assets in Africa, with the UK leading the pack with USD 65 bn in investments, and France coming in second with USD 60 bn.<\/p>\n<p><strong>Most areas of the world saw a recovery of FDI inflows in 2021<\/strong> following exceptionally low levels the previous year. Global flows rose 64% to USD 1.58 tn on the back of booming M&A and international project finance thanks to loose financial conditions and huge infrastructure stimulus packages.<\/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\/fdi\/\">FDI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"547272\" 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=\"547272\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/an-all-sawiris-mining-merger\/\">\r\n                            An all-Sawiris mining merger                        <\/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\/15\/an-all-sawiris-mining-merger\/\" 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\/15\/an-all-sawiris-mining-merger\/')\">\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\/15\/an-all-sawiris-mining-merger\/\">\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=An all-Sawiris mining merger&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/an-all-sawiris-mining-merger\/\">\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\/15\/an-all-sawiris-mining-merger\/&title=An all-Sawiris mining merger\">\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=An+all-Sawiris+mining+merger+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F15%2Fan-all-sawiris-mining-merger%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\/15\/an-all-sawiris-mining-merger\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547272\" class=\"content-area-description single-story post-547272 post type-post status-publish format-standard hentry category-ma-watch tag-altus-strategies tag-elemental-royalties tag-enterpriseam tag-gold tag-ma-watch tag-mining 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>Sawiris-backed Altus Strategies is merging with Toronto-listed <\/strong><strong>gold royalty <\/strong><strong>company <\/strong><strong>Elemental Royalties in an all-stock transaction<\/strong>, the companies said in <a href=\"\">an LSE disclosure<\/a><a href=\"\">(pdf)<\/a> yesterday. In what they\u2019re dubbing a \u201cmerger of equals,\u201d the transaction will see Elemental give Altus shareholders 0.594 shares in the new company for every Altus share they hold. This will give Elemental shareholders 52.9% of the firm and Altus shareholders the remaining 47.1%.<\/p>\n<p><strong>Bigger + more diverse:<\/strong> The merged entity will have a combined portfolio of 69, primarily gold assets across 13 top-tier jurisdictions, 11 of which are in production. The company will have an estimated combined revenue of USD 19.6 mn in 2022 and USD 24.6 mn next year.<\/p>\n<p><strong>Sawiris owns shares in both companies:<\/strong> Naguib Sawiris\u2019 La Mancha fund holds significant stakes in Altus and Elemental. It acquired a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/36f16444-b8ba-4b8b-9971-8d46c8a38624\">35% stake in Altus in 2020<\/a> and <a href=\"https:\/\/www.globenewswire.com\/news-release\/2022\/04\/01\/2414875\/0\/en\/La-Mancha-Announces-Acquisition-of-Shares-of-Elemental-Royalties-Corp.html\">9.3% of Elemental in April<\/a>.<\/p>\n<p><strong>And backs the merger:<\/strong> La Mancha and other institutional investors from both sides are supporting the merger.<\/p>\n<p><strong>What they said:<\/strong> \u201cOur enlarged scale and combined revenues will not only enhance our access to further high-quality royalties, but will also potentially reduce our cost of capital going forward,\u201d Altus CEO Steven Poulton said. \u201cAs we succeed, we look forward to targeting medium-term capital distributions, as well as participating in further accretive consolidation opportunities in the royalty sector,\u201d he added. Poulton will become the executive chair of the new company, while current Elemental chief executive Frederick Bell will be the CEO.<\/p>\n<p><strong>Altus has a footprint in Egypt: <\/strong>Altus subsidiary Akh Gold has four gold concessions across the Eastern Desert in Egypt, two of which were just <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a252ca57-a24f-4d0f-af8e-d794ead34107\">awarded<\/a> to the firm last month. The company said the two blocks cover 349 sq km, bringing the company\u2019s total land holding to 1.9k sq km. The company said last month that it <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/835c2807-5ca0-4c12-9758-0b940dc729eb\">made multiple \u201chigh grade\u201d gold discoveries<\/a> of up to 100g of gold per ton.<\/p>\n<p><strong>The market reaction:<\/strong> Altus shares fell 5.4% in London yesterday while Elemental stock slipped 0.7% in Toronto.<\/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\/altus-strategies\/\">Altus Strategies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/elemental-royalties\/\">Elemental Royalties<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gold\/\">gold<\/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\/mining\/\">mining<\/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=\"547273\" 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=\"547273\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/sodic-seals-egp-600-mn-financing-agreement-with-ahli-united-bank\/\">\r\n                            SODIC seals EGP 600 mn financing agreement with Ahli United Bank                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/sodic-seals-egp-600-mn-financing-agreement-with-ahli-united-bank\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/sodic-seals-egp-600-mn-financing-agreement-with-ahli-united-bank\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/sodic-seals-egp-600-mn-financing-agreement-with-ahli-united-bank\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=SODIC seals EGP 600 mn financing agreement with Ahli United Bank&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/sodic-seals-egp-600-mn-financing-agreement-with-ahli-united-bank\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/sodic-seals-egp-600-mn-financing-agreement-with-ahli-united-bank\/&title=SODIC seals EGP 600 mn financing agreement with Ahli United Bank\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=SODIC+seals+EGP+600+mn+financing+agreement+with+Ahli+United+Bank+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F15%2Fsodic-seals-egp-600-mn-financing-agreement-with-ahli-united-bank%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/sodic-seals-egp-600-mn-financing-agreement-with-ahli-united-bank\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/780-The-estates-sodic.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"547274\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/sodic-seals-egp-600-mn-financing-agreement-with-ahli-united-bank\/780-the-estates-sodic-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/780-The-estates-sodic.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"780-The-estates-sodic.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/780-The-estates-sodic.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/780-The-estates-sodic.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547273\" class=\"content-area-description single-story post-547273 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-ahli-united-bank tag-debt tag-debt-watch tag-enterpriseam tag-real-estate tag-sodic 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>SODIC subsidiary to borrow EGP 600 m<\/strong><strong>n<\/strong><strong> from Ahli United Bank: <\/strong>Ahli United Bank has agreed to provide SODIC subsidiary Six of October For Development & Real Estate Projects (SOREAL) with a EGP 600 mn discounting facility, enabling the real estate company to borrow against future repayments from its East Cairo project, Eastown Residences, according to <a href=\"\">a statement (pdf)<\/a> yesterday.<\/p>\n<p><strong>Why go through with it: <\/strong>\u201cThis agreement comes in line with SODIC\u2019s continuous efforts to diversify our funding sources to enable growth and support ongoing operations while maintaining the strength and liquidity of our balance sheet and financial position,\u201d SODIC\u2019s CFO Omar Elhamawy said.<\/p>\n<p><strong>Account receivables financing: A primer. <\/strong>Accounts receivable financing is a short-term funding method that allows companies to receive early payment of future income. It can come in handy when there\u2019s a timing mismatch between the cash inflows and outflows of a company, giving it access to early payments.<\/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\/ahli-united-bank\/\">Ahli United Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sodic\/\">SODIC<\/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=\"547275\" 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=\"547275\">\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\">Fintech<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/investors-apply-for-fintech-investment-banking-license\/\">\r\n                            Investors apply for fintech investment banking license                        <\/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\/15\/investors-apply-for-fintech-investment-banking-license\/\" 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\/15\/investors-apply-for-fintech-investment-banking-license\/')\">\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\/15\/investors-apply-for-fintech-investment-banking-license\/\">\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=Investors apply for fintech investment banking license&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/investors-apply-for-fintech-investment-banking-license\/\">\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\/15\/investors-apply-for-fintech-investment-banking-license\/&title=Investors apply for fintech investment banking license\">\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=Investors+apply+for+fintech+investment+banking+license+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F15%2Finvestors-apply-for-fintech-investment-banking-license%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\/15\/investors-apply-for-fintech-investment-banking-license\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547275\" class=\"content-area-description single-story post-547275 post type-post status-publish format-standard hentry category-fintech tag-enterpriseam tag-fintech tag-ma-watch tag-raqamyat tag-startups wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>A group of investors has applied to obtain a fintech investment banking license <\/strong><strong>from the Financial Regulatory Authority (FRA) for an M&A-focused firm<\/strong>, the investors\u2019 legal advisor, Dreny & Partners, said in a <a href=\"\">press release (pdf)<\/a>. The investors include Mohamed Aboulnaga Nagaty, founder of M&A advisory outfit <a href=\"https:\/\/pie.consulting\/#exits-mena\">Pie Consulting<\/a> and co-founder of Halan (now MNT-Halan), founding partner of Amer Group Omar Amer, and Omar and Adham Wagdy, founders of Basita Holding for Financial Investments.<\/p>\n<p><strong>The group is also <\/strong><strong>working to establish a holding company that will encompass Pie Consulting<\/strong><strong>\u00a0and its subsidiary <\/strong><strong><a href=\"https:\/\/exits.me\/\">Exits<\/a><\/strong>, an online M&A marketplace Pie <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/00603e3e-a806-4507-8732-0ee293997ffc\">recently acquired<\/a>, Dreny & Partners founding partner Moataz El Dreny told Enterprise. El Dreny expects the license to be obtained within a couple of months.<\/p>\n<p><strong>IN OTHER FINTECH NEWS-<\/strong><\/p>\n<ul>\n<li><strong>Fintech company <\/strong><strong><a href=\"https:\/\/raqamyat.com\/\">Raqamyat<\/a><\/strong><strong> is launching its operations<\/strong> and will offer e-payment solutions for e-commerce businesses and online retailers, <a href=\"https:\/\/www.facebook.com\/RAQAMYAT\/posts\/140652485234761\">it said<\/a>.<\/li>\n<li>Fintech player <strong><a href=\"https:\/\/thelucky.app\/\">Lucky<\/a><\/strong> received the greenlight from the <strong>Central Bank of Egypt<\/strong> to launch its <strong>Lucky One Card<\/strong>, which allows customers to access cashback rewards, pay mobile bills, and withdraw and deposit funds. (<a href=\"https:\/\/ent.news\/2022\/6\/Lucky-One-PR-English-Final-Version.pdf\">Statement, pdf<\/a>)<\/li>\n<\/ul>\n<p><em>EDITOR'S NOTE- Corrected on 16 June, 2022<\/em><\/p>\n<p><em>An earlier version of this story had identified Mohamed Aboulnaga Nagaty as the CEO and co-founder of Egypt-based Klivvr. The story has been updated to reflect the fact that Nagaty no longer holds this position.<\/em><\/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\/fintech\/\">Fintech<\/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\/raqamyat\/\">Raqamyat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"547276\" 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=\"547276\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/jimmy-khan-succeeds-solomon-baumgartner-aviles-as-lafarge-egypt-ceo\/\">\r\n                            Jimmy Khan succeeds Solomon Baumgartner Aviles as Lafarge Egypt CEO                        <\/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\/15\/jimmy-khan-succeeds-solomon-baumgartner-aviles-as-lafarge-egypt-ceo\/\" 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\/15\/jimmy-khan-succeeds-solomon-baumgartner-aviles-as-lafarge-egypt-ceo\/')\">\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\/15\/jimmy-khan-succeeds-solomon-baumgartner-aviles-as-lafarge-egypt-ceo\/\">\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=Jimmy Khan succeeds Solomon Baumgartner Aviles as Lafarge Egypt CEO&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/jimmy-khan-succeeds-solomon-baumgartner-aviles-as-lafarge-egypt-ceo\/\">\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\/15\/jimmy-khan-succeeds-solomon-baumgartner-aviles-as-lafarge-egypt-ceo\/&title=Jimmy Khan succeeds Solomon Baumgartner Aviles as Lafarge Egypt CEO\">\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=Jimmy+Khan+succeeds+Solomon+Baumgartner+Aviles+as+Lafarge+Egypt+CEO+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F15%2Fjimmy-khan-succeeds-solomon-baumgartner-aviles-as-lafarge-egypt-ceo%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\/15\/jimmy-khan-succeeds-solomon-baumgartner-aviles-as-lafarge-egypt-ceo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547276\" class=\"content-area-description single-story post-547276 post type-post status-publish format-standard hentry category-moves tag-cement tag-enterpriseam tag-lafarge-egypt tag-moves wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Lafarge <\/strong>has appointed <strong>Jimmy Khan<\/strong> (<a href=\"https:\/\/www.linkedin.com\/in\/jimmy-khan-38a3993\/details\/experience\/\">LinkedIn<\/a>) as the company\u2019s <strong>new Egypt CEO<\/strong>, succeeding Solomon Baumgartner Aviles (<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b66f59bb-fc7c-4a63-9777-3e17f2bcf50d\">My Morning Routine<\/a>), according to a <a href=\"\">statement (pdf)<\/a>. Khan has been the CEO of Lafarge Zambia since 2018, and previously served as CEO for Lafarge Mauritius and Seychelles. He has worked with the group for the past 18 years.<\/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\/cement\/\">cement<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lafarge-egypt\/\">LaFarge Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/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=\"547277\" 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=\"547277\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/547277\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547277\" class=\"content-area-description single-story post-547277 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/whatsnext.enterprise.press\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/New-Banners-English-v2_1600-text-1.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"547278\" 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=\"547278\">\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\">Commodities<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/no-end-in-sight-for-the-wheat-shortage\/\">\r\n                            No end in sight for the wheat shortage                        <\/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\/15\/no-end-in-sight-for-the-wheat-shortage\/\" 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\/15\/no-end-in-sight-for-the-wheat-shortage\/')\">\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\/15\/no-end-in-sight-for-the-wheat-shortage\/\">\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=No end in sight for the wheat shortage&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/no-end-in-sight-for-the-wheat-shortage\/\">\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\/15\/no-end-in-sight-for-the-wheat-shortage\/&title=No end in sight for the wheat shortage\">\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=No+end+in+sight+for+the+wheat+shortage+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F15%2Fno-end-in-sight-for-the-wheat-shortage%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\/15\/no-end-in-sight-for-the-wheat-shortage\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/wheat-1600px.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"547279\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/no-end-in-sight-for-the-wheat-shortage\/wheat-1600px-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/wheat-1600px.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"wheat-1600px.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/wheat-1600px.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/wheat-1600px.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547278\" class=\"content-area-description single-story post-547278 post type-post status-publish format-standard has-post-thumbnail hentry category-commodities tag-commodities tag-enterpriseam tag-gerd 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><strong>Global markets could miss out on three consecutive Ukrainian wheat harvests<\/strong>, Ukraine\u2019s Agriculture Minister Mykola Solskyi told <a href=\"https:\/\/www.reuters.com\/world\/europe\/russias-war-may-deprive-world-three-ukrainian-wheat-harvests-minister-2022-06-14\/\">Reuters<\/a>. \u201cWe cannot take out [to export] last year\u2019s crop, we cannot harvest and take out the current one, and we do not particularly want to sow the next one,\u201d Solskyi said. Ukraine\u2019s wheat is usually sowed in the fall and harvested during July and August, suggesting that the shortage could last until mid-2024.<\/p>\n<p><strong>What about this season\u2019s crop? <\/strong>Ukraine is currently unable to harvest at least 5 mn tons of wheat from its 2022 crop, which have been planted on currently-occupied territory and cannot be harvested. Ukraine has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/601eada0-bdcc-4f65-829e-5751a06208bc\">some 30 mn tons of grain trapped<\/a> in its silos, taking up half of the grain storage capacity that is still under its control. And with Russia blocking its ports, the best part of the 60 mn tons of grain and oilseed surpluses <a href=\"https:\/\/www.reuters.com\/markets\/commodities\/ukraine-grain-silos-half-full-ahead-harvest-exports-remain-stalled-2022-06-08\/\">could end up trashed<\/a> with nowhere to go.<\/p>\n<p><strong>The problem:<\/strong> Russia\u2019s blockade of the Black Sea ports has forced Kyiv to turn to rail, road, and river transport to get its grain out of the country. Recently, Ukraine started exporting grain via two routes through <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/601eada0-bdcc-4f65-829e-5751a06208bc\">Poland and Romania<\/a>, but the process is slow and expensive due to logistical difficulties. A shipment of Ukrainian wheat <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7f16238a-c802-41a4-8b2a-754e888411e2\">will soon make its way<\/a> to Egypt from Romania, marking the first of its kind since the war broke out.<\/p>\n<p><strong>Is the Baltic Sea the answer?<\/strong> Exporters in Ukraine have opened <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/601eada0-bdcc-4f65-829e-5751a06208bc\">a new route via the Baltic Sea<\/a> in a step that could help get agricultural commodities out of the country, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-14\/ukraine-grain-exporters-carve-out-new-route-via-baltic-sea?srnd=premium-middle-east\">Bloomberg<\/a>. A shipment of Ukrainian corn sent from Poland arrived in Spain on Monday, raising hopes that the country will begin to clear its huge backlogs.<\/p>\n<p><strong>All of this has heightened<\/strong><strong> global food insecurity \u2026: <\/strong>Russia and Ukraine provide around <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/19cdf00e-f36b-465c-8115-096d9196dcfc\">a third of the world\u2019s wheat<\/a> and Prior to the war, Ukraine\u2019s monthly grain exports used to reach 6 mn tons, but that number has been significantly slashed since the war broke out. The country exported 300k tons of grain in March and 1 mn tons in April. Solskyi is expecting exports to exceed 2 mn tons this month.<\/p>\n<p><strong>What this means for us: <\/strong>Russia and Ukraine together accounted for around 80% of Egypt\u2019s wheat imports. 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 <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5ac17049-0088-4ed8-a391-d2e876d5d91b\">said<\/a> this week. The prospects of the continued war has us looking elsewhere for wheat, including from India \u2014 with whom we could still do trade in a potential <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/42fc30fa-9136-4971-a9b5-8844e2991226\">wheat-for-fertilizer pact<\/a> that has drawn criticism from some other nations.<\/p>\n<p><strong>Both India and Egypt are backing policies that would see them bar potential exports of critical wheat crops<\/strong> that is being opposed at the WTO meetings, with us <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/065204a9-fed6-4be9-8ae3-25897092105c\">extending<\/a> our own ban on wheat exports.<\/p>\n<p><strong>G7 countries have restated their support to help ease Egypt\u2019s food crisis:<\/strong> \u201cThe G7 is standing by their commitment to support Egypt through this crisis caused by Russia\u2019s war,\u201d G7 ambassadors to Egypt said in <a href=\"https:\/\/eg.usembassy.gov\/g7-ambassadors-on-food-security-g7-stand-to-support-egypt-in-grain-crisis-caused-by-russia\/\">a statement<\/a> yesterday. The group is increasing support to the World Food Programme\u2019s operations in Egypt and is offering bilateral assistance, they said, adding that they are \u201cclosely consulting\u201d with the government on the crisis.<\/p>\n<p><strong>Goodbye wheat, hello sunflower? <\/strong>Ukrainian farmers could soon substitute their wheat crops with something lighter \u2014 making it cheaper to ship \u2014 and more expensive to sell, like sunflower, which farmers are already substituting for corn crops, the minister said.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/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=\"547280\" 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=\"547280\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/547280\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547280\" class=\"content-area-description single-story post-547280 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\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=\"547281\" 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=\"547281\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/the-governments-automotive-strategy-dominated-the-airwaves-last-night\/\">\r\n                            The government\u2019s automotive strategy dominated the airwaves last night                        <\/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\/15\/the-governments-automotive-strategy-dominated-the-airwaves-last-night\/\" 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\/15\/the-governments-automotive-strategy-dominated-the-airwaves-last-night\/')\">\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\/15\/the-governments-automotive-strategy-dominated-the-airwaves-last-night\/\">\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=The government\u2019s automotive strategy dominated the airwaves last night&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/the-governments-automotive-strategy-dominated-the-airwaves-last-night\/\">\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\/15\/the-governments-automotive-strategy-dominated-the-airwaves-last-night\/&title=The government\u2019s automotive strategy dominated the airwaves last night\">\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=The+government%E2%80%99s+automotive+strategy+dominated+the+airwaves+last+night+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F15%2Fthe-governments-automotive-strategy-dominated-the-airwaves-last-night%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\/15\/the-governments-automotive-strategy-dominated-the-airwaves-last-night\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547281\" class=\"content-area-description single-story post-547281 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-automotive-directive tag-enterpriseam tag-joe-biden tag-last-nights-talk-shows tag-moustafa-madbouly tag-saudi-arabia tag-sovereign-fund-of-egypt tag-suez-canal-economic-zone wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>The government\u2019s auto strategy took center stage on the airwaves last <\/strong><strong>night: <\/strong>Prime Minister Moustasfa Madbouly\u2019s speech on the government\u2019s automotive strategy and a number of MoUs signed on the sidelines led the conversation on the airwaves last night, with Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=eiClzYD9XpI\">watch, runtime: 1:49<\/a>), Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=jiqCKzYhJzQ\">watch, runtime: 8:01<\/a>), Yahduth Fi Masr (<a href=\"https:\/\/www.youtube.com\/watch?v=sXj7kKepsU8\">watch, runtime: 8:51<\/a>), and Ala Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=2cH7JyL-BTE\">watch, runtime: 30:15<\/a>) all covering the news.<\/p>\n<p><strong>The drive to localize:<\/strong> Speaking at the East Port Said Industrial Zone, <a href=\"https:\/\/bit.ly\/3Hqjh7X\">the PM said<\/a> that the government\u2019s goal is to expand the local production of vehicles and localize supply chains by supporting domestic feeder industries. The country has spent USD 4 bn on importing cars over the past year, which is not sustainable should car ownership continue to rise in the coming years, he said.<\/p>\n<p><strong>One of the PM\u2019s advisors gave a bit more clarity on Yahduth Fi Masr<\/strong>, telling show host Sherif Amer that incentives will be provided based on the level of investment and production, the quantity of local components used, and the adoption of eco-friendly technologies (<a href=\"https:\/\/www.youtube.com\/watch?v=sXj7kKepsU8\">watch, runtime: 8:51<\/a>).<\/p>\n<p><strong>We\u2019ve already seen some parts of the strategy in action:<\/strong> Changes to customs duties on hundreds of imported goods were <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a7e87c52-f3e1-49dd-93ae-3d18b8287074\">passed by the House<\/a> earlier this month. Included in these were tax breaks for manufacturers who source at least 60% of components from local suppliers, and a 2% tariff on equipment used for EV charging stations and natgas filling stations, as well as a number of components used in electric buses.<\/p>\n<p><strong>Want a primer on the strategy and what auto players want to see from it? <\/strong>Read our in depth Inside Industry poll <a href=\"https:\/\/enterprise.press\/industries\/%f0%9f%8f%ad-inside-industry\/\">here<\/a>.<\/p>\n<p><strong>A number of agreements were signed at the event:<\/strong><\/p>\n<ul>\n<li><strong>A new car assembly factory:<\/strong> Egyptian International Motors, the Suez Canal Economic Zone (SC Zone), the Sovereign Fund of Egypt (SFE) and the East Port Said Development Company (EP) <a href=\"https:\/\/bit.ly\/3QoNybC\">signed an MoU<\/a> to explore building a factory capable of producing 75k cars a year.<\/li>\n<li><strong>The study that could make it happen:<\/strong> UK engineering consultancy PAC Group <a href=\"https:\/\/bit.ly\/3NZIgSo\">signed an MoU<\/a> to conduct a feasibility study on the proposed factory.<\/li>\n<\/ul>\n<hr class=\"grey-line\">\n<p><strong>Fury as the Pharaohs collapse in 4-1 loss to South Korea:<\/strong> The national team\u2019s 4-1 loss to South Korea got the talk show heads furious, with Ala Mas\u2019ouleety\u2019s Ahmed Moussa slamming the team for their bad performance and describing the game as a \u201cdisgrace\u201d (<a href=\"https:\/\/www.youtube.com\/watch?v=rq3NLZ4wbE0&t=2s\">watch, runtime: 4:54<\/a>). He said no resignations were yet made from the Egyptian Football Association (EFA) after a week of disappointing performances, the latest being the Pharaohs' embarrassing 2-0 loss to Ethiopia. The EFA will announce several decisions on Thursday, Moussa said, expecting the association to name a new coach for both the national and olympic football teams among other decisions. Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=8R9uDwPpHL8\">watch, runtime: 19:03<\/a>), Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=RTVfbFFKXmE\">watch, runtime: 11:22<\/a>), and Kelma Akhira (<a href=\"https:\/\/www.facebook.com\/watch\/?v=3333921920227863\">watch, runtime: 7:23<\/a>) also covered the result.<\/p>\n<p><strong>Uncle Joe goes to Riyadh:<\/strong> Yesterday\u2019s news that President Joe Biden will make his first visit to the region next month got wide coverage: Kelma Akhira <a href=\"https:\/\/www.facebook.com\/watch\/live\/?ref=watch_permalink&v=411090554271619\">(watch, runtime: 19:20<\/a>), Ala Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=Q5Ngn_dEMBk\">watch, runtime: 4:48<\/a>) and Yahduth Fi Masr (<a href=\"https:\/\/www.youtube.com\/watch?v=iaVmCny7Gys\">watch, runtime: 3:23<\/a>).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive-directive\/\">Automotive Directive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/joe-biden\/\">Joe Biden<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/moustafa-madbouly\/\">Moustafa Madbouly<\/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\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-economic-zone\/\">Suez Canal Economic Zone<\/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=\"547282\" 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-5qrrgf3\" data-v=\"4\" data-block-id=\"5qrrgf3\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-5qrrgf3-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-5qrrgf3-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-ecyf9do\" data-v=\"4\" data-block-id=\"ecyf9do\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-ecyf9do-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-ecyf9do-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-slmu7ek\" data-v=\"4\" data-block-id=\"slmu7ek\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-slmu7ek-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-slmu7ek-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-o7iayxd\" data-v=\"4\" data-block-id=\"o7iayxd\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-o7iayxd-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-o7iayxd-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=\"547283\" 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=\"547283\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/nobodys-writing-about-egypt-this-morning\/\">\r\n                            Nobody\u2019s writing about Egypt this morning                        <\/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\/15\/nobodys-writing-about-egypt-this-morning\/\" 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\/15\/nobodys-writing-about-egypt-this-morning\/')\">\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\/15\/nobodys-writing-about-egypt-this-morning\/\">\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=Nobody\u2019s writing about Egypt this morning&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/nobodys-writing-about-egypt-this-morning\/\">\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\/15\/nobodys-writing-about-egypt-this-morning\/&title=Nobody\u2019s writing about Egypt this morning\">\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=Nobody%E2%80%99s+writing+about+Egypt+this+morning+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F15%2Fnobodys-writing-about-egypt-this-morning%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\/15\/nobodys-writing-about-egypt-this-morning\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547283\" class=\"content-area-description single-story post-547283 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-enterpriseam tag-media wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>There\u2019s nothing to see here this morning, folks.<\/strong> Move along.<\/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\/media\/\">media<\/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=\"547284\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"547285\" 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=\"547285\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/emic-1-subsea-cable-gets-some-ink\/\">\r\n                            EMIC-1 subsea cable gets some ink                        <\/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\/15\/emic-1-subsea-cable-gets-some-ink\/\" 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\/15\/emic-1-subsea-cable-gets-some-ink\/')\">\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\/15\/emic-1-subsea-cable-gets-some-ink\/\">\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=EMIC-1 subsea cable gets some ink&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/emic-1-subsea-cable-gets-some-ink\/\">\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\/15\/emic-1-subsea-cable-gets-some-ink\/&title=EMIC-1 subsea cable gets some ink\">\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=EMIC-1+subsea+cable+gets+some+ink+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F15%2Femic-1-subsea-cable-gets-some-ink%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\/15\/emic-1-subsea-cable-gets-some-ink\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547285\" class=\"content-area-description single-story post-547285 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-amazon tag-e-commerce tag-egypt-aluminum tag-enterpriseam tag-telecom-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Telecom Egypt (TE) and <\/strong><strong><a href=\"https:\/\/aquacomms.com\/\">Aqua Comms<\/a><\/strong><strong> inked a crossing and landing agreement for the <\/strong><strong>Europe Middle-East India Connect 1 (EMIC-1) subsea cable in Egypt.<\/strong> The cable will connect Barcelona to Mumbai and transit Egypt on land between Ras Ghareb and Port Said, TE said in a <a href=\"https:\/\/ir.te.eg\/en\/CorporateNews\/PressRelease\/165\/Telecom-Egypt-provides-Aqua-Comms-with-landing-and-crossing-services-for-the-EMIC-1-subsea-cable\">statement<\/a> yesterday.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>Petcare provider <\/strong><strong><a href=\"https:\/\/vetwork.app\/\">Vetwork<\/a><\/strong><strong> has raised a bridge round<\/strong> from members of the <a href=\"https:\/\/www.alexandriaangels.com\/index.html\">Alexandria<\/a><a href=\"https:\/\/www.alexandriaangels.com\/index.html\">Angel Network<\/a> and undisclosed Saudi investors, according to a <a href=\"\">release (pdf)<\/a>.<\/li>\n<li><strong>Amazon Egypt<\/strong> is launching its premium membership program <strong>Amazon Prime<\/strong>, offering delivery without charge, discounts and access to its streaming and gaming services. (<a href=\"https:\/\/ent.news\/2022\/6\/AMAZON-PRIME-ARRIVES-IN-EGYPT-SHOPPING-SAVINGS-AND-ENTERTAINMENT-BUNDLED-TOGETHER-IN-ONE-MEMBERSHP-PROGRAM.pdf\">Statement, pdf<\/a>)<\/li>\n<li>US IT infrastructure provider <strong><a href=\"https:\/\/www.kyndryl.com\/ch\/en\">Kyndryl<\/a><\/strong> will provide cloud services to Qalaa Holdings\u2019 <strong>Taqa<\/strong><strong> Arabia<\/strong>. (<a href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/taqa-arabia-and-kyndryl-extend-collaboration-to-modernize-energy-distribution-for-customers-across-egypt-beog6fec\">Press release<\/a>)<\/li>\n<li>Authorities have released 24 pretrial detainees charged with joining an outlawed group and disseminating false news in separate cases, human rights lawyer Khaled Ali wrote on social media. (<a href=\"https:\/\/www.facebook.com\/100004061017976\/posts\/pfbid02oE53eSi3xtRuE8hxShctLVCX2yTbTwKJQS3eay2wSdPx6bbD8wUopUuarhNJ2nsPl\/\">Facebook<\/a>)<\/li>\n<li>An <strong>Egyptian-German archeological mission<\/strong> uncovered granite stone blocks from King Khufu\u2019s reign in Heliopolis. (<a href=\"https:\/\/www.facebook.com\/tourismandantiq\/posts\/389900056504880\">Statement<\/a>) <\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/amazon\/\">Amazon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-commerce\/\">e-commerce<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-aluminum\/\">Egypt Aluminum<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/telecom-egypt\/\">Telecom Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"547286\" 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=\"547286\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/oil-prices-could-go-down-in-2023-says-opec\/\">\r\n                            Oil prices could go down in 2023, says Opec                        <\/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\/15\/oil-prices-could-go-down-in-2023-says-opec\/\" 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\/15\/oil-prices-could-go-down-in-2023-says-opec\/')\">\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\/15\/oil-prices-could-go-down-in-2023-says-opec\/\">\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=Oil prices could go down in 2023, says Opec&url=https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/oil-prices-could-go-down-in-2023-says-opec\/\">\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\/15\/oil-prices-could-go-down-in-2023-says-opec\/&title=Oil prices could go down in 2023, says Opec\">\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=Oil+prices+could+go+down+in+2023%2C+says+Opec+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F06%2F15%2Foil-prices-could-go-down-in-2023-says-opec%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\/15\/oil-prices-could-go-down-in-2023-says-opec\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547286\" class=\"content-area-description single-story post-547286 post type-post status-publish format-standard hentry category-planet-finance tag-coca-cola tag-cryptocurrency tag-enterpriseam tag-financial-markets tag-ipo-watch tag-israel tag-planet-finance tag-russia tag-uae tag-ukraine wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>OPEC expects oil demand growth to fall to 2 mn barrels per day (bpd) or less in <\/strong><strong>2023<\/strong>, compared to an expected growth of 3.36 mn bpd in 2022, <a href=\"https:\/\/www.reuters.com\/markets\/commodities\/exclusive-opec-sees-global-oil-demand-growth-slowing-2023-sources-say-2022-06-14\/\">Reuters<\/a> reports, citing sources in the know. Oil prices have hit record highs, pushing up inflation \u2014 but these high prices are now eating into growth projections for 2022 and forecasting for slower growth in 2023. OPEC\u2019s official forecast for 2023 is expected to be published in July.<\/p><p><strong>ALSO IN PLANET FINANCE-<\/strong><\/p><ul>\n<li><strong>Coinbase slashes jobs as crypto winter deepens: <\/strong>Crypto exchange platform Coinbase has laid off almost a fifth of its workforc<strong>e<\/strong> amid a plunge in crypto prices. Shares in the company have plunged 85% since November in response to the tanking crypto market, which has seen BTC lose more than 60% of its value in the same period. (<a href=\"https:\/\/blog.coinbase.com\/a-message-from-coinbase-ceo-and-cofounder-brian-armstrong-578d76eedb12\">Statement<\/a>)<\/li>\n<li><strong>Mubasher will not be deterred by the meltdown: <\/strong>Mubasher will launch its MENA crypto trading platform <a href=\"https:\/\/www.ducrypto.com\/en_US\/\">Ducrypto<\/a> on Thursday, allowing users to trade in BTC, Ripple, Ethereum, Dogecoin and other cryptocurrencies. (<a href=\"https:\/\/bit.ly\/3O9BDgp\">Statement<\/a>)<\/li>\n<li><strong>No IPO for Coca-Cola\u2019s African business this year<\/strong>: Coca-Cola Co is pushing a planned IPO of part of its stake in Coca-Cola Beverages Africa to 2023 due to poor macroeconomic conditions. (<a href=\"https:\/\/www.coca-colacompany.com\/press-releases\/coca-cola-plans-to-delay-listing-of-ccba\">Statement<\/a>)<\/li>\n<\/ul><table class=\"markets-table\">\n<tbody>\n<tr class=\"gray-table\">\n<td>\n<p><img decoding=\"async\" width=\"14\" class=\"market-arrow\" alt=\"Up\" src=\"\"><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>9,981<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: -16.5%)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><img decoding=\"async\" width=\"14\" class=\"market-arrow\" alt=\"Up\" src=\"\"><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 18.70<\/p>\n<\/td>\n<td>\n<p>Sell 18.78<\/p>\n<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td>\n<p><img decoding=\"async\" width=\"14\" class=\"market-arrow\" alt=\"Up\" src=\"\"><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 18.72<\/p>\n<\/td>\n<td>\n<p>Sell 18.78<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><img decoding=\"async\" width=\"14\" class=\"market-arrow\" alt=\"None\" src=\"\"><\/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=\"gray-table\">\n<td>\n<p><img decoding=\"async\" width=\"14\" class=\"market-arrow\" alt=\"Down\" src=\"\"><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>12,021<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: +6.6%)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><img decoding=\"async\" width=\"14\" class=\"market-arrow\" alt=\"Up\" src=\"\"><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>9,547<\/p>\n<\/td>\n<td>\n<p>+0.9% (YTD: +12.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td>\n<p><img decoding=\"async\" width=\"14\" class=\"market-arrow\" alt=\"Up\" src=\"\"><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,297<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: +3.2%)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><img decoding=\"async\" width=\"14\" class=\"market-arrow\" alt=\"Down\" src=\"\"><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>3,735<\/p>\n<\/td>\n<td>\n<p>-0.4% (YTD: -21.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td>\n<p><img decoding=\"async\" width=\"14\" class=\"market-arrow\" alt=\"Down\" src=\"\"><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,187<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: -2.7%)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><img decoding=\"async\" width=\"14\" class=\"market-arrow\" alt=\"Down\" src=\"\"><\/p>\n<\/td>\n<td>\n<p><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td>\n<p>3,475<\/p>\n<\/td>\n<td>\n<p>-0.8% (YTD: -19.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td>\n<p><img decoding=\"async\" width=\"14\" class=\"market-arrow\" alt=\"Down\" src=\"\"><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 121.17<\/p>\n<\/td>\n<td>\n<p>-0.9%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><img decoding=\"async\" width=\"14\" class=\"market-arrow\" alt=\"Up\" src=\"\"><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 7.32<\/p>\n<\/td>\n<td>\n<p>+1.8%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"gray-table\">\n<td>\n<p><img decoding=\"async\" width=\"14\" class=\"market-arrow\" alt=\"Down\" src=\"\"><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,808.90<\/p>\n<\/td>\n<td>\n<p>-0.3%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><img decoding=\"async\" width=\"14\" class=\"market-arrow\" alt=\"Down\" src=\"\"><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 21,364<\/p>\n<\/td>\n<td>\n<p>-7.0% (YTD: -53.4%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 fell 0.3% at yesterday\u2019s close<\/strong> on turnover of EGP 683 mn (18.2% above the 90-day average). Foreign investors were net sellers. The index is down 16.5% YTD.<\/p><p><strong>In the green: <\/strong>CIRA (+2.4%), Egypt Kuwait Holding-EGP (+2.2%) and MM Group (+1.9%).<\/p><p><strong>In the red: <\/strong>TMG Holding (-3.3%), Credit Agricole Egypt (-2.1%) and e-Finance (-1.9%).<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/coca-cola\/\">Coca-Cola<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cryptocurrency\/\">cryptocurrency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"547287\">\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\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/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\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday 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\/hardhat\/\">\r\n                            Read Hardhat                        <\/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\">12<\/div>\r\n    \r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/meet-pylon-the-data-driven-company-making-infrastructure-more-efficient\/\"> \r\n                            Meet Pylon: The data-driven company making infrastructure more efficient<\/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\/hardhats\/meet-pylon-the-data-driven-company-making-infrastructure-more-efficient\/\" 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\/hardhats\/meet-pylon-the-data-driven-company-making-infrastructure-more-efficient\/')\">\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\/hardhats\/meet-pylon-the-data-driven-company-making-infrastructure-more-efficient\/\">\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=Meet Pylon: The data-driven company making infrastructure more efficient&url=https:\/\/enterpriseam.com\/egypt\/hardhats\/meet-pylon-the-data-driven-company-making-infrastructure-more-efficient\/\">\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\/hardhats\/meet-pylon-the-data-driven-company-making-infrastructure-more-efficient\/&title=Meet Pylon: The data-driven company making infrastructure more efficient\">\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=Meet+Pylon%3A+The+data-driven+company+making+infrastructure+more+efficient+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Fhardhats%2Fmeet-pylon-the-data-driven-company-making-infrastructure-more-efficient%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\/hardhats\/meet-pylon-the-data-driven-company-making-infrastructure-more-efficient\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/Ahmed-Ashour-1600px-min.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=\"547288\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/meet-pylon-the-data-driven-company-making-infrastructure-more-efficient\/ahmed-ashour-1600px-min-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/Ahmed-Ashour-1600px-min.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"Ahmed-Ashour-1600px-min.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/Ahmed-Ashour-1600px-min.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/Ahmed-Ashour-1600px-min.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-547287\" class=\"content-area-description post-547287 hardhat type-hardhat status-publish has-post-thumbnail hentry tag-ahmed-ashour tag-ai tag-enterprise-hardhat tag-enterpriseam tag-machine-learning tag-omar-radi tag-pylon tag-startups tag-technology 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-08\"><\/a> <strong>Using data to improve efficiency in our traditional infrastructure: Enterprise <\/strong><strong>sits <\/strong><strong>down with Pylon\u2019s Ahmed Ashour. <\/strong>Having <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a8d9d16a-f589-4ffb-a458-8259f4439034\">recently raised<\/a> USD 19 mn in a seed funding round, and already hit profitability following its 2017 launch, infrastructure management platform <a href=\"https:\/\/pylonump.com\/\">Pylon<\/a> is on a roll. We sat down with Pylon\u2019s co-founder and CEO <a href=\"https:\/\/eg.linkedin.com\/in\/ahmed-ashour-80a9562b\">Ahmed Ashour<\/a> for a deep-dive into how the company\u2019s data-driven software is helping to make traditional infrastructure sectors \u2014 namely, electricity and water distribution \u2014 more efficient.<\/p>\n<p><strong>The main challenge facing water and electricity providers: Substantial revenue losses from structural inefficiencies.<\/strong> This lost revenue could amount to close to USD 2 bn per year in Egypt alone, and some USD 400 bn in emerging markets, says Ashour. It comes primarily from inefficient revenue collection, electricity or water theft from tampering, and leakages or technical losses happening across the networks, he adds. Upgrading infrastructure to make it more efficient is usually a cost-intensive undertaking for utility providers, Ashour says.<\/p>\n<p><strong>This is where Pylon comes in:<\/strong> Pylon\u2019s software collects and analyzes vast amounts of data, identifying systemic inefficiencies that providers can take immediate steps to address, says Ashour. The AI embedded in its tech can make forecasts and recommendations for more efficient, lower-emissions usage. \u201cIn essence, we develop the technological layer for the infrastructure sector,\u201d Ashour says.<\/p>\n<p><strong>So how does it work?<\/strong> Pylon supplies software, communication technology and smart meters to its subscribers, says Ashour. The software \u2014 which it connects to all the subscriber\u2019s different assets \u2014 has different functions, but is broadly focused on data collection, data crunching or analysis, and feedback mechanisms, some of which are automated, he adds.<\/p>\n<p><strong>For electricity, it\u2019s data collection, <\/strong><strong>Jim<\/strong><strong>, but not as we know it: <\/strong>Electricity utilities are used to getting a single data point a month, by sending someone to read the electricity meter, Ashour tells Enterprise. \u201cBut our smart meters take a reading every 15 minutes, and each one of these measures around 32 different parameters,\u201d including consumption, the volts and amperes of the electricity, the load profile (the electricity usage going up and down at different intervals), and the quality of the electricity provided. \u201cThe more data we can collect, the greater our insights and understanding, and we can make better forecasts and decisions.\u201d<\/p>\n<p><strong>When it comes to smart technology, not as much can be measured and forecast with water, because water meters are battery operated<\/strong>, says Ashour. \u201cOur water forecasting is mainly about usage. We can look at the direction and speed of the flow, but at the moment we can\u2019t conduct as thorough an analysis as in the electricity sector.\u201d<\/p>\n<p><strong>The data is then communicated to a centralized data center<\/strong> through power line carriers, broadband or even radio frequencies, says Ashour. Once it arrives in the data center \u2014 which could be in a physical space attached to the customer\u2019s location, or in the cloud \u2014 the system starts the data crunching process.<\/p>\n<p><strong>Data analysis informs and directs the different functions of the platform: <\/strong>Pylon\u2019s machine learning software can cross reference newly-collected data with data already in its system to detect suspicious patterns of activity, indicating electricity theft, for example, Ashour says. When the system flags a suspicious pattern, it\u2019s automatically assigned to a human inspector, who investigates the situation. The software can also show companies where in the network their biggest losses from leakages or theft are occurring. It can help pinpoint the root cause of a problem, and where infrastructure needs to be fixed or maintained, he adds.<\/p>\n<p><strong>Along with system optimization, in response to demand: <\/strong>Pylon\u2019s system can put a limit on individual users\u2019 electricity consumption during peak demand hours. Electricity distribution companies often struggle with supply when demand is at its peak and are forced to either cut the electricity supply in different areas, or to install more generation capacity \u2014 which may then only be used for a few hours a day, a few months a year. Pylon can limit consumption to 40 or 50 amperes during peak hours, so individuals still have electricity access but it\u2019s capped, he adds.<\/p>\n<p><strong>And lower-emissions electricity supply: <\/strong>Pylon can maximize generation from renewables, by using data analysis to predict solar or wind power generation during a given time period. \u201cWe can then link electricity providers to sources of conventional energy, like gas turbines, to supplement what\u2019s needed,\u201d says Ashour. The company tries to ensure gas plants aren\u2019t used during peak demand hours, which leads to higher CO2 emissions, he adds.<\/p>\n<p><strong>How the money comes in: <\/strong>\u201cWe consolidated everything into the technology,\u201d says Ashour. \u201cThere\u2019s a new idea that <a href=\"https:\/\/www.wsj.com\/articles\/SB10001424053111903480904576512250915629460\">software is eating infrastructure<\/a>, which is what we adopted. It basically means you provide the whole service in the software layer. We minimized the need for hardware, and built a lean solution from scratch. So we focus on making our product very efficient, solving all the challenges, and constantly enhancing our software. Then we take this software, and sell it to numerous customers through our subscription model.\u201d<\/p>\n<p><strong>Pylon\u2019s service model is subscription-based, with utility providers usually paying over a 10-year period:<\/strong> \u201cThere\u2019s no upfront payment or substantial one-time investment for customers,\u201d says Ashour. Paying in installments over a long period makes it a more cost-effective service for the utilities providers, he adds.<\/p>\n<p><strong>Ashour and his co-founder <\/strong><strong><a href=\"https:\/\/www.linkedin.com\/in\/omar-radi\/?originalSubdomain=eg\">Omar Radi<\/a><\/strong><strong> think of the company as the Android of the smart grid<\/strong> \u2014 meaning the company integrates its own software with hardware provided by partners from all over the world. It works with around 30 different hardware providers from locations including Egypt, Europe, China, and the US. Pylon also partners with Amazon Web Services for its data storage, and has designed its own cloud storage offering, says Ashour.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top infrastructure stories for the week: <\/strong><\/p>\n<ul>\n<li><strong>New crude storage facility:<\/strong> The Oil Ministry <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5ac17049-0088-4ed8-a391-d2e876d5d91b\">plans to build<\/a> a EGP 1.8 bn crude oil storage facility south of Cairo, which would receive crude from Ain Sokhna and transfer it to the Assiut oil refinery.<\/li>\n<li><strong>Alameda hospitals to get new equipment + operating systems:<\/strong> <a href=\"https:\/\/www.alameda-hc.com\/\">Alameda Healthcare<\/a> <a href=\"https:\/\/enterprise.news\/egypt\/ar\/news\/edition\/am\/edc60613-3729-4796-8ab4-627e4cf83243\">has signed an MoU<\/a> 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<\/li>\n<li><strong>IT infrastructure contractor Benya Group <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dee0b178-0015-4990-83f7-a2f9e01b5f7b\">is looking to<\/a><\/strong><strong> raise USD 150 mn<\/strong> via a private placement before the end of 2Q2022 to finance its expansion plans in Africa.<\/li>\n<li><strong>SpaceX <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7eccb770-44df-4edc-86f4-2ad816af7409\">launched<\/a><\/strong><strong>the Nilesat 301 satellite from Cape Canaveral<\/strong>, sending it into orbit where it will provide TV broadcasting and internet services to Egypt and other parts of Africa and the Middle East.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ahmed-ashour\/\">Ahmed Ashour<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/machine-learning\/\">machine learning<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/omar-radi\/\">Omar Radi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pylon\/\">Pylon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/technology\/\">technology<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\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=\"547289\" 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\/15\/547289\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547289\" class=\"content-area-description single-story post-547289 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\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":547267,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-547266","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"bde8c67f-5b7a-4e38-abae-c746cbef3e83","teaser":"","photo_url":"https:\/\/ent.news\/2022\/6\/21.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>Egypt to sign gas agreement with the EU + Israel today.  Plus: It\u2019s the biggest Fed day since March &#039;20 - 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\/egypt-to-sign-gas-agreement-with-the-eu-israel-today-plus-its-the-biggest-fed-day-since-march-20\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt to sign gas agreement with the EU + Israel today.  Plus: It\u2019s the biggest Fed day since March &#039;20\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-to-sign-gas-agreement-with-the-eu-israel-today-plus-its-the-biggest-fed-day-since-march-20\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T21:46:27+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\/21.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\/egypt-to-sign-gas-agreement-with-the-eu-israel-today-plus-its-the-biggest-fed-day-since-march-20\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-to-sign-gas-agreement-with-the-eu-israel-today-plus-its-the-biggest-fed-day-since-march-20\/\",\"name\":\"Egypt to sign gas agreement with the EU + Israel today. Plus: It\u2019s the biggest Fed day since March '20 - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-to-sign-gas-agreement-with-the-eu-israel-today-plus-its-the-biggest-fed-day-since-march-20\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-to-sign-gas-agreement-with-the-eu-israel-today-plus-its-the-biggest-fed-day-since-march-20\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/21.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2022-06-15T03:59:19+00:00\",\"dateModified\":\"2025-12-15T21:46:27+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-to-sign-gas-agreement-with-the-eu-israel-today-plus-its-the-biggest-fed-day-since-march-20\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-to-sign-gas-agreement-with-the-eu-israel-today-plus-its-the-biggest-fed-day-since-march-20\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-to-sign-gas-agreement-with-the-eu-israel-today-plus-its-the-biggest-fed-day-since-march-20\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/21.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/21.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-to-sign-gas-agreement-with-the-eu-israel-today-plus-its-the-biggest-fed-day-since-march-20\/#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\":\"Egypt to sign gas agreement with the EU + Israel today. Plus: It\u2019s the biggest Fed day since March &#8217;20\"}]},{\"@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":"Egypt to sign gas agreement with the EU + Israel today.  Plus: It\u2019s the biggest Fed day since March '20 - 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\/egypt-to-sign-gas-agreement-with-the-eu-israel-today-plus-its-the-biggest-fed-day-since-march-20\/","og_locale":"en_US","og_type":"article","og_title":"Egypt to sign gas agreement with the EU + Israel today.  Plus: It\u2019s the biggest Fed day since March '20","og_url":"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-to-sign-gas-agreement-with-the-eu-israel-today-plus-its-the-biggest-fed-day-since-march-20\/","og_site_name":"EnterpriseAM Egypt","article_modified_time":"2025-12-15T21:46:27+00:00","twitter_card":"summary_large_image","twitter_image":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/21.jpg?fit=%2C&ssl=1","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-to-sign-gas-agreement-with-the-eu-israel-today-plus-its-the-biggest-fed-day-since-march-20\/","url":"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-to-sign-gas-agreement-with-the-eu-israel-today-plus-its-the-biggest-fed-day-since-march-20\/","name":"Egypt to sign gas agreement with the EU + Israel today. Plus: It\u2019s the biggest Fed day since March '20 - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-to-sign-gas-agreement-with-the-eu-israel-today-plus-its-the-biggest-fed-day-since-march-20\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-to-sign-gas-agreement-with-the-eu-israel-today-plus-its-the-biggest-fed-day-since-march-20\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/21.jpg?fit=%2C&ssl=1","datePublished":"2022-06-15T03:59:19+00:00","dateModified":"2025-12-15T21:46:27+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-to-sign-gas-agreement-with-the-eu-israel-today-plus-its-the-biggest-fed-day-since-march-20\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/issues\/egypt-to-sign-gas-agreement-with-the-eu-israel-today-plus-its-the-biggest-fed-day-since-march-20\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-to-sign-gas-agreement-with-the-eu-israel-today-plus-its-the-biggest-fed-day-since-march-20\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/21.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/21.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-to-sign-gas-agreement-with-the-eu-israel-today-plus-its-the-biggest-fed-day-since-march-20\/#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":"Egypt to sign gas agreement with the EU + Israel today. Plus: It\u2019s the biggest Fed day since March &#8217;20"}]},{"@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\/547266","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\/547266\/revisions"}],"predecessor-version":[{"id":547299,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/547266\/revisions\/547299"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/547267"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=547266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=547266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=547266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}