{"id":547880,"date":"2022-07-18T04:00:32","date_gmt":"2022-07-18T04:00:32","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=547880"},"modified":"2025-12-15T22:00:43","modified_gmt":"2025-12-15T22:00:43","slug":"mnhd-wants-sodic-to-bump-up-its-offer-price","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/mnhd-wants-sodic-to-bump-up-its-offer-price\/","title":{"rendered":"MNHD wants SODIC to bump up its offer price"},"content":{"rendered":"<section id=\"547882\" 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=\"547882\">\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\/07\/18\/this-morning-imf-to-downgrade-global-growth-forecast-substantially-egyptians-offered-new-round-of-covid-boosters\/\">\r\n                            THIS MORNING: IMF to downgrade global growth forecast \u201csubstantially\u201d; Egyptians offered new round of covid boosters                        <\/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\/07\/18\/this-morning-imf-to-downgrade-global-growth-forecast-substantially-egyptians-offered-new-round-of-covid-boosters\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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We have a compact, business-heavy issue for you today <\/strong>after the policy- and macro-heavy reads we served up yesterday (and before the Eid break).<\/p><p>Before we get started, though:<\/p><p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>PSA- Fourth covid shots have landed:<\/strong> People who have received three doses of a covid vaccine can now receive their fourth jabs, <a href=\"https:\/\/tinyurl.com\/mwv5w4nk\">Youm7<\/a> reported, citing a statement from the Health Ministry. Anyone over the age of 65 or suffering from a chronic illness can get the booster if it\u2019s been more than three months since their third shot. Everyone else will become eligible six months after receiving the third jab. The ministry has already begun administering the fourth shots, and there\u2019s no need to re-register if you want to get jabbed.<\/p><p><strong>Covid cases are on the rise nationwide<\/strong>, with the official case count not at about 35 new cases and five covid-related deaths each day, acting Health Minister Khaled Abdel Ghaffar said <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6dc96cfb-27cc-4550-a7db-e16440f42d6b\">earlier this week<\/a>. Remember: The official case count underestimates the true number of cases as it captures data only from government labs.<\/p><p><strong>Covid patients need to quarantine for 5-7 days<\/strong>, head of the government\u2019s covid committee, Hossam Hosni, told Salet El Tahrir yesterday (<a href=\"https:\/\/www.youtube.com\/watch?v=bZl6sLxIBDg\">watch, runtime: 3:24<\/a>), adding that despite the increase in reported cases, most patients are reporting comparatively mild symptoms. Hosni called on people to continue practicing preventive measures including mask wearing, social distancing, and hand washing.<\/p><p><strong>Officials haven\u2019t specified that we\u2019re in the midst of the same BA.4 and BA.5 wave<\/strong> that is sweeping North America and much of Europe, but\u2026<\/p><hr class=\"grey-line\"><p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>WATCH THIS SPACE #1: Brace yourselves for more bad news on global <\/strong><strong>growth.<\/strong> The IMF is poised to downgrade its global economic growth outlook \u201csubstantially\u201d later this month on the back of soaring food and energy prices, a slowing economy in China, and <strong>reduced capital flows to emerging markets<\/strong>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-07-17\/imf-to-cut-global-growth-outlook-substantially-at-next-review\">Bloomberg<\/a> reports.<\/p><p><strong>\u201cIt\u2019s shock after shock after shock which are really hitting the global economy,\u201d <\/strong>IMF official Ceyla Pazarbasioglu said Sunday at a panel in Indonesia following the G20 finance ministers\u2019 meeting, which ended <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0f0f8196-c2a0-48e0-a499-a42709f052f0\">in division<\/a> on Saturday. <strong>The IMF already <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/773b32f1-c37f-45ca-8845-65d05411a210\">downgraded its 2022 global growth forecast<\/a><\/strong> <strong>in April to 3.6%<\/strong>, from 4.4%, due to the economic fallout caused by the war in Ukraine.<\/p><p><strong>The next signpost on the road: <\/strong>The Fund will publish an update to its World Economic Outlook on Tuesday, 26 July \u2014 a week from tomorrow.<\/p><p><strong>*** WATCH THIS SPACE #2- Is the respected activist Alaa Abdel Fattah up for a pardon? <\/strong>That\u2019s the contention of Tarek El Awadi, a member of the presidential pardons commission, who said on Al Kahera wal Nas\u2019 Hadith Al Qahera that Alaa\u2019s name is on a pardon list being prepared by the commission. Other prominent activists including Ahmed Douma are also up for pardons, El Awadi said, adding that \u201ccompetent authorities\u201d are reviewing the list and have so far raised no objections. The story is getting play in state-owned media including <a href=\"https:\/\/gate.ahram.org.eg\/News\/3605395.aspx\">Al Ahram<\/a>\u2019s breaking news website as well as in <a href=\"https:\/\/bit.ly\/3uTUpjW\">Youm7<\/a>.<\/p><p><strong>Alaa, now a UK national, has been on a hunger strike since April<\/strong> and his case has in recent months won <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f396a28c-6359-43ad-8742-d1e3b944ce1d\">significant international media attention<\/a>.<\/p><hr class=\"grey-line\"><p><strong>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p><p><strong>President Abdel Fattah El Sisi is co-c<\/strong><strong>hairing this year\u2019s <\/strong><strong><a href=\"https:\/\/climatenetwork.org\/can-event\/pcd13\/\">Petersbe<\/a><\/strong><strong><a href=\"https:\/\/climatenetwork.org\/can-event\/pcd13\/\">rg Climate<\/a><\/strong><strong><a href=\"https:\/\/climatenetwork.org\/can-event\/pcd13\/\"><\/a><\/strong><strong><a href=\"https:\/\/climatenetwork.org\/can-event\/pcd13\/\">Dialogue<\/a><\/strong> alongside German Chancellor Olaf Scholz, Ittihadiya said in <a href=\"https:\/\/tinyurl.com\/mr3a2yfu\">a statement<\/a>. The two-day event starts today in Berlin and is one of several international climate meetings ahead of COP27 in November.<\/p><p><strong>Egypt will play Cape Verde in the final of the 2022 African Men's <\/strong><strong>Handball <\/strong><strong>Championship today at 9pm<\/strong>. A victory for the Pharaohs would see them claim the title for the second year in a row. The national team sealed their place in the final on Saturday by beating Tunisia, a match that also secured a berth in the 2023 championship.<\/p><p><strong>TOMORROW-<\/strong><\/p><p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>GASC goes direct to some far-flung wheat suppliers: <\/strong>State grain buyer GASC is again looking to purchase more wheat directly from traders and will tomorrow invite offers from suppliers in the US, Canada, Australia, Argentina and Brazil, it <a href=\"http:\/\/www.gasc.gov.eg\/wheat%20bids_en.htm\">said on its website<\/a>. GASC wants offers on a cost and freight basis to be shipped in September-November. The authority has, by our math, bought more than 500k tons of wheat outside the normal tender process this month (<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/094f9121-ebf1-4aee-89fb-3abc6e3b75c8\">here<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/236b23b9-eacf-422d-aaaf-0adbf24dfd84\">here<\/a>) and has sought to diversify its suppliers following the outbreak of war in Ukraine.<\/p><p><strong>AND THIS WEEK- <\/strong><\/p><p><strong>Russian President Vladimir Putin is coming to our neck of the woods(ish). <\/strong>Putin will meet with his counterparts in Iran and Turkey as the Kremlin ups efforts to court global south allies in the wake of its rift with the West, the <a href=\"https:\/\/www.wsj.com\/articles\/putin-seeks-to-cement-ties-with-iran-turkey-in-rare-trip-abroad-11658055769\">Wall Street Journal<\/a> reports. The rare diplomatic visit \u2014 only Putin\u2019s second since Russia went to war in Ukraine \u2014 will start on Tuesday in Tehran.<\/p><p><strong>Cold War diplomacy vibes:<\/strong> The visit comes hot on the heels of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9e7eec51-9809-4b44-be93-858195b6d3cc\">US President Joe Biden\u2019s visit to the Middle East<\/a>, where he also sought to firm up ties with regional allies and counter the growing influence of China and Russia.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p><strong>THE BIG STORY ABROAD- There\u2019s no single story dominating the international front <\/strong><strong>pages this morning:<\/strong><\/p><ul>\n<li><strong>The latest from Ukraine:<\/strong> President Volodymyr Zelenskiy has fired his national security head and chief prosecutor while Russia prepares the next phase of its push to seize the entirety of the Donbas. (<a href=\"https:\/\/www.reuters.com\/world\/europe\/russia-preparing-next-stage-offensive-ukraine-says-2022-07-17\/\">Reuters<\/a> | <a href=\"https:\/\/apnews.com\/article\/russia-ukraine-moscow-black-sea-moldova-3c4521b4371c07c852534d03cf62ab88\">AP<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-07-17\/ukraine-latest-russia-ramps-up-and-braces-for-counterattacks?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a>)<\/li>\n<li><strong>US media is focused on a report published yesterday on the mass shooting in Uvalde in May<\/strong>, which found \u201csystemic failures\u201d in how the police responded to the situation. (<a href=\"https:\/\/www.washingtonpost.com\/nation\/2022\/07\/17\/uvalde-school-shooting-report\/?itid=hp-top-table-main\">Washington Post<\/a> | <a href=\"https:\/\/www.nytimes.com\/2022\/07\/17\/us\/uvalde-shooting-report.html\">NYT<\/a>)<\/li>\n<\/ul><p><strong>MARKET WATCH-<\/strong><\/p><p><strong>The global financial press is fretting about two things this morning:<\/strong><\/p><p><strong>#1 T<\/strong><strong>he red-hot greenback: <\/strong>The USD posted its strongest first half in more than a decade this year, rising to its highest level in 20 years as the Federal Reserve hikes interest rates and unease about the direction of the global economy grows. The EUR <a href=\"https:\/\/edition.cnn.com\/2022\/07\/12\/investing\/euro-dollar-parity\/index.html\">reached parity<\/a> with the USD for the first time since 2002 last week and the USD-JPY rate is at its <a href=\"https:\/\/www.japantimes.co.jp\/news\/2022\/07\/14\/business\/financial-markets\/yen-fresh-low-138\/\">highest in 24 years<\/a>. That sees <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-07-17\/unstoppable-dollar-risks-worsening-71-billion-asia-stock-exodus?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> reporting that the strengthening greenback has triggered capital flight from Asian equities (excluding China) to the tune of USD 71 bn so far this year.<\/p><p><strong>The doom loop:<\/strong> Hedge fund advisor Jon Turek <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-07-17\/this-could-be-the-start-of-a-dollar-doom-loop-like-no-other?srnd=premium-europe&amp;sref=mmeFTDW1\">tells the business newswire<\/a> that we\u2019re entering a \u201cUSD doom loop\u201d where the strengthening currency becomes self-reinforcing. \u201cWe have a European problem, which creates pressure on the euro, which sends the dollar higher, which worsens the manufacturing cycle, which does this whole thing again,\u201d he says. \u201cIt\u2019s a little hard to see what kind of stops this.\u201d<\/p><p><strong>Everyone\u2019s feeling the pressure:<\/strong> Commodity importers (us), countries with USD-denominated debt (us), and the US\u2019 top trading partners are all feeling the pain as currencies across the world fall heavily against the greenback. <a href=\"https:\/\/www.wsj.com\/articles\/strong-dollar-extends-gains-with-no-end-to-rally-in-sight-11658066581\">The Wall Street Journal<\/a> and <a href=\"https:\/\/www.washingtonpost.com\/business\/2022\/07\/17\/dollar-inflation-global-economy\/\">the Washington Post<\/a> are also out with pieces examining the currency\u2019s ascent.<\/p><p><strong>#2 Corporate earnings:<\/strong> US earnings season continues this week, and \u2014 among the other headwinds currently threatening businesses \u2014 the USD is expected to have weighed on corporate revenues in the second quarter. \u201cThe USD is definitely going to be a huge earnings headwind,\u201d one analyst told <a href=\"https:\/\/www.wsj.com\/articles\/strong-dollar-extends-gains-with-no-end-to-rally-in-sight-11658066581\">the Wall Street Journal<\/a>.<\/p><p><strong>It hasn\u2019t been a great start to earnings season: <\/strong>\u201cLackluster,\u201d \u201cinauspicious,\u201d and \u201cslow\u201d all find their way into <a href=\"https:\/\/www.wsj.com\/articles\/earnings-season-off-to-slow-start-clouding-the-outlook-for-stocks-11658050381\">the Wall Street Journal\u2019s<\/a> coverage of the first week of 2Q earnings, which saw JPMorgan, Chase and Delta Airlines all warn about hard times ahead. Of the few S&amp;P 500 companies that have released their earnings for the second quarter of the year, nearly 60% beat earning expectations in comparison to the usual 77% recorded over the past five years on the back of rising costs.<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>State\u2019s national dialogue meetings to resume on Tuesday:<\/strong> The board overseeing the Sisi administration\u2019s national dialogue will hold its second meeting this week, during which it will set a schedule of debate, discuss the agenda and form subcommittees.<\/p><p><strong>Need a refresher on the national dialogue?<\/strong> We\u2019ve <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/618da10f-a3ed-44b3-92e6-b25ee5ff7eae\">got you covered.<\/a><\/p><p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/CIRA-Blackboard-Banner-B.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. Blackboard appears every Monday in Enterprise in the place of our traditional industry news roundups.<\/p><p><strong>In today\u2019s issue:<\/strong> The skill gap between what Egypt\u2019s fresh graduates need in the workforce and what they leave university with is often cited as a reason for poor performance or low productivity. So Enterprise asked representatives from a range of sectors what exactly they look for in the fresh graduates they hire. Their answers? Although different sectors sometimes require quite different skills and experience, candidates who are proactive and understand the broader meaning behind the tasks they work on will go much further than those who rely on being spoon fed instructions, they say.<\/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\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate\/\">Climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/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\/vaccines\/\">vaccines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vladimir-putin\/\">Vladimir Putin<\/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=\"547883\" 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=\"547883\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/547883\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547883\" class=\"content-area-description single-story post-547883 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\/7\/Somabay-unforgettable-summer-1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n<p>A sizzling summer awaits you by the bay: We\u2019ve saved you the hassle of planning by bringing you a lineup of unmatched energy and fun-packed vacation activities to last you all season long. It\u2019s time to create magical memories with relaxed beachside days and excitingly fresh nights. From pumping up the adrenaline with Footgolf and Go-Karting to turning up the music and heat at Sobar with ladies\u2019 nights, groovy beats, and lots of dancing. From BBQ beach parties at S-cape to riding horses by the sea \u2014 there\u2019s a little special something for everyone. We look forward to seeing you at the bay.<\/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=\"547884\" 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=\"547884\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/mnhd-wants-sodic-to-bump-up-its-offer-price\/\">\r\n                            MNHD wants SODIC to bump up its offer price                        <\/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\/07\/18\/mnhd-wants-sodic-to-bump-up-its-offer-price\/\" 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\/07\/18\/mnhd-wants-sodic-to-bump-up-its-offer-price\/')\">\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\/07\/18\/mnhd-wants-sodic-to-bump-up-its-offer-price\/\">\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=MNHD wants SODIC to bump up its offer price&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/mnhd-wants-sodic-to-bump-up-its-offer-price\/\">\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\/07\/18\/mnhd-wants-sodic-to-bump-up-its-offer-price\/&title=MNHD wants SODIC to bump up its offer price\">\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=MNHD+wants+SODIC+to+bump+up+its+offer+price+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F18%2Fmnhd-wants-sodic-to-bump-up-its-offer-price%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\/07\/18\/mnhd-wants-sodic-to-bump-up-its-offer-price\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/179.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"547885\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/mnhd-wants-sodic-to-bump-up-its-offer-price\/179-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/179.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"179.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/179.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/179.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547884\" class=\"content-area-description single-story post-547884 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-aldar-properties tag-enterpriseam tag-ma-watch tag-madinet-masr-for-housing-and-development 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-01\"><\/a> <strong>MNHD says the price isn\u2019t right on SODIC\u2019s acquisition bid: <\/strong>Madinet Nasr for Housing and Development (MNHD) has rejected <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ac0d2951-4c12-4a13-827a-1941b1904444\">a takeover bid<\/a> by SODIC and called on the company to bump up its offer. SODIC before Eid Al Adha offered to purchase up to 100% of MNHD for EGP 3.20-3.40 per share. MNHD\u2019s board said in <a href=\"https:\/\/ent.news\/2022\/7\/%D9%85%D8%AF%D9%8A%D9%86%D8%A9-%D9%86%D8%B5%D8%B1-%D8%A8%D9%8A%D8%A7%D9%86-%D9%87%D9%8A%D8%A6%D8%A9-17-07-2022.pdf\">a letter (pdf)<\/a> to Aldar Properties (SODIC\u2019s majority owner) that the offer price does not match the \u201creal value\u201d of the company.<\/p>\n<p><strong>MNHD has invited SODIC to go higher:<\/strong> The board said in its letter that it could be interested in a bid if SODIC were to reconsider its offer and peg it at a \u201cfair\u201d value. MNHD\u2019s shares rose 3.1% yesterday on the news to close at EGP 2.68, implying SODIC\u2019s offer is (at the top end of the range) a premium of about 27% to the current share price. SODIC shares fell 2.4% to EGP 10.83.<\/p>\n<p><strong>What happens now? <\/strong>MNHD\u2019s board said it would not recommend allowing SODIC to conduct due diligence on the firm with the offer price as it stands, though the final decision on whether to allow the request rests with the company\u2019s shareholders, MNHD board member Salah Katamish told us. Our friends at SODIC declined to comment when we asked yesterday.<\/p>\n<p><strong>Look out for a final decision soon: <\/strong>MNHD has 21 working days to convene its general assembly and decide whether to allow SODIC to do due diligence, Katamish said.<\/p>\n<p><strong>MNHD\u2019s current owners: <\/strong>State-owned institutions collectively own the largest stake in MNHD, with the Holding Company for Construction and Development holding 15.2%, the National Investment Bank owning 3.7% and Banque Misr holding 3.5%. BIG Investment Group is the largest single shareholder with a 19.9% stake, B Investments owns 7.5% and 20.4% is held by foreign institutions.<\/p>\n<p><strong>This isn\u2019t the first time SODIC and MNHD have danced.<\/strong> The two started talking about combining their businesses in <a href=\"https:\/\/enterprise.press\/stories\/2018\/04\/12\/sodic-mnhd-talks-to-begin-today-source\/\">early 2018<\/a>, which months later saw SODIC make an offer to acquire <a href=\"https:\/\/enterprise.press\/stories\/2018\/10\/16\/exclusive-magued-sherif-and-hazem-barakat-on-what-could-be-egypts-largest-ever-ma\/\">at least 51% of MNHD<\/a> through a direct share swap that the two positioned as what would have been Egypt\u2019s largest-ever M&A at the time. Talks <a href=\"https:\/\/enterprise.press\/stories\/2019\/01\/27\/sodic-calls-off-all-share-acquisition-of-mnhd\/\">fell through<\/a> after they failed to reach an agreement on the share-swap ratio.<\/p>\n<p><strong>Advisors:<\/strong> CI Capital is acting as SODIC\u2019s financial advisor, while MNHD has yet to tap an investment bank. Zaki Hashem & Partners is MNHD\u2019s legal counsel.<\/p>\n<p><strong>The news got attention internationally:<\/strong> <a href=\"https:\/\/www.reuters.com\/article\/idUSL1N2YY08K\">Reuters<\/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\/aldar-properties\/\">Aldar Properties<\/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\/madinet-masr-for-housing-and-development\/\">Madinet Masr for Housing and Development<\/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=\"547886\" 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=\"547886\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/swvl-is-entering-mexico-with-another-acquisition\/\">\r\n                            Swvl is entering Mexico with another acquisition                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/swvl-is-entering-mexico-with-another-acquisition\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/swvl-is-entering-mexico-with-another-acquisition\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/swvl-is-entering-mexico-with-another-acquisition\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Swvl is entering Mexico with another acquisition&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/swvl-is-entering-mexico-with-another-acquisition\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/swvl-is-entering-mexico-with-another-acquisition\/&title=Swvl is entering Mexico with another acquisition\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Swvl+is+entering+Mexico+with+another+acquisition+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F18%2Fswvl-is-entering-mexico-with-another-acquisition%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/swvl-is-entering-mexico-with-another-acquisition\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/180.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"547887\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/swvl-is-entering-mexico-with-another-acquisition\/180-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/180.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"180.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/180.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/180.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547886\" class=\"content-area-description single-story post-547886 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-enterpriseam tag-ma-watch tag-mexico tag-swvl tag-transport tag-urbvan-mobility wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Swvl expands to Mexico with fourth acquisition of 2022:<\/strong> Cairo-born mass transport app Swvl is continuing its buying spree with the acquisition of Mexico-based transport firm <a href=\"https:\/\/urbvan.com\/\">Urbvan Mobility<\/a>, giving the Nasdaq-listed startup access to the second most populated market in Latin America. In <a href=\"https:\/\/www.nasdaq.com\/press-release\/swvl-expands-into-mexico-with-acquisition-of-mass-transit-tech-platform-urbvan-2022\">an announcement<\/a> last week, Swvl said it had reached an agreement to acquire the firm and expects the process to be finalized by the end of 3Q 2022. The acquisition is being done via a share-swap worth almost USD 28 mn based on Swvl\u2019s current share price, Swvl CFO Youssef Salem told Enterprise.<\/p>\n<p><strong>The details:<\/strong> Urbvan shareholders will get 12 mn shares in Swvl over the next two years in return for their company, provided they deliver on the business plan, Salem said. The company didn\u2019t disclose the price per share at which the swap was agreed. Swvl\u2019s shares closed at USD 2.31 in New York at the end of last week.<\/p>\n<p><strong>About Urbvan: <\/strong>Founded in 2016, the bus transport app operates in 18 cities in Mexico, running regular urban and intercity routes as well as buses for private firms. The company has more than 450k registered users and has posted a compounded annual revenue growth rate of 138% since 2017.<\/p>\n<p><strong>The move is the latest in a string of acquisitions\u2026<\/strong> Swvl has made four acquisitions so far this year and six to date as it continues to pursue global expansion. After acquiring Barcelona-based <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/af5d2162-bf47-45d2-b982-46314e364512\">Shotl<\/a> and Chile \/ Argentina-based <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9ff7b137-c8e9-4f0f-b7d8-1eccf7e7cf63\">Viapool<\/a> last year, earlier this year the company bought Turkish firm <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cb11c9b1-5ee3-4d53-a9dd-fd13d6b9d849\">Volt Lines<\/a>, German SaaS platform <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a69885d2-afc6-4a1c-8aef-016b926777d5\">Door2Door<\/a> and the UK-based <a href=\"https:\/\/www.prnewswire.com\/news-releases\/swvl-announces-definitive-agreement-to-acquire-zeelo-to-become-a-leading-global-mass-transit-tech-platform-by-footprint-expanding-footprint-to-usa--south-africa-and-increasing-presence-in-uk-301535384.html\">Zeelo<\/a>.<\/p>\n<p><strong>\u2026and announced major layoffs and operational cutbacks:<\/strong> The company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1c783ee0-2afb-4dfd-802d-3296cbbf08c4\">slashed its headcount<\/a> by a third in May in an attempt to keep it on track to become cash flow positive next year. It also imposed a hiring freeze, cut executive pay, and announced plans to scrap unprofitable routes.<\/p>\n<p><strong>Swvl has had a rough ride in the public markets:<\/strong> Swvl\u2019s shares have plunged more than 75% since it <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a69885d2-afc6-4a1c-8aef-016b926777d5\">debuted on the Nasdaq<\/a> in April via a SPAC merger amid a broad sell-off on Wall Street of tech stocks and companies that went public via blank check firms.<\/p>\n<p><strong>The move is part of Swvl\u2019s pivot toward its most profitable segments<\/strong>, transport as a service (TaaS) and software as a service (SaaS), it said in the statement. \u201cUrbvan has high profit margins given relatively higher income levels in Mexico\u201d compared with other Swvl markets, Salem told us.<\/p>\n<p><strong>A pause in all the M&A for now? <\/strong>The company hasn\u2019t identified any specific firms it\u2019s interested in acquiring next but will \u201ccontinue to seek profitable targets who are open to all-share agreements,\u201d Salem 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\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mexico\/\">Mexico<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/swvl\/\">Swvl<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/urbvan-mobility\/\">Urbvan Mobility<\/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=\"547888\" 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=\"547888\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/subsidized-bakeries-wont-be-affected-by-recent-diesel-price-hike\/\">\r\n                            Subsidized bakeries won\u2019t be affected by recent diesel price hike                        <\/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\/07\/18\/subsidized-bakeries-wont-be-affected-by-recent-diesel-price-hike\/\" 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\/07\/18\/subsidized-bakeries-wont-be-affected-by-recent-diesel-price-hike\/')\">\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\/07\/18\/subsidized-bakeries-wont-be-affected-by-recent-diesel-price-hike\/\">\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=Subsidized bakeries won\u2019t be affected by recent diesel price hike&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/subsidized-bakeries-wont-be-affected-by-recent-diesel-price-hike\/\">\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\/07\/18\/subsidized-bakeries-wont-be-affected-by-recent-diesel-price-hike\/&title=Subsidized bakeries won\u2019t be affected by recent diesel price hike\">\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=Subsidized+bakeries+won%E2%80%99t+be+affected+by+recent+diesel+price+hike+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F18%2Fsubsidized-bakeries-wont-be-affected-by-recent-diesel-price-hike%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\/07\/18\/subsidized-bakeries-wont-be-affected-by-recent-diesel-price-hike\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/181.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"547889\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/subsidized-bakeries-wont-be-affected-by-recent-diesel-price-hike\/181-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/181.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"181.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/181.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/181.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547888\" class=\"content-area-description single-story post-547888 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-careem tag-commodities tag-energy tag-enterpriseam tag-fuel tag-ride-hailing tag-transport wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Subsidized bakeries won\u2019t be affected by the recent diesel price hike: <\/strong>The General Authority for Supply Commodities (GASC) will subsidize the difference in the cost of diesel for subsidized bakeries following the recent price hike, Supply Minister Ali El Moselhy said in <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0383KKmrAZBCo16ccqUebXMtDtsB13DmmdRGDDqpQv3Axh2N4Hym6YrP6yiRbMDScNl\">a statement<\/a>. The price of subsidized loaves of baladi bread will remain unchanged at EGP 0.50, he said. The government currently <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ee647146-99bd-4798-8a71-f16c93c7c6eb\">pays EGP 0.70<\/a> in subsidies per loaf and has allocated EGP 90 bn to cover food subsidies in FY 2022-2023.<\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/59629508-f337-48ec-b80c-092a43eecb30\">government raised the price of diesel<\/a><\/strong><strong> last week for the first time in three years<\/strong> in efforts to reduce its subsidy bill amid rising global energy prices. In its latest quarterly review, the fuel pricing committee increased the price to EGP 7.25 per liter from EGP 6.75, and hiked petrol prices by up to 10%. Prime Minister Moustafa Madbouly said the state will pay out EGP 55 bn in diesel subsidies this year following the price hike.<\/p>\n<p><strong>Half of the countries\u2019 subsidized bakeries still rely on diesel<\/strong>, while the other half are natural gas powered, Abdallah Ghorab, head of the bakery division at the Egyptian Federation of Chambers of Commerce, told Kelma Akhira\u2019s Lamees El Hadidi last night (<a href=\"https:\/\/www.youtube.com\/watch?v=4fJ1LHuQLgg\">watch, runtime: 22:19<\/a>). The government plans to eventually hook all bakeries up with natural gas instead of diesel.<\/p>\n<p><strong>The price rises have raised fears of further inflation:<\/strong> Higher diesel prices are likely to feed through to goods and services. The fuel is used to transport commodities, operate agricultural machinery and power public transport. Taxi, bus and microbus fares rose by 5-7% across the country following the hike.<\/p>\n<p><strong>What are ride-hailing firms saying?<\/strong> Careem is still looking into how it will address the recent hike in petrol prices, Haitham Essam, head of the company\u2019s Egypt business, told <a href=\"https:\/\/alborsaanews.com\/2022\/07\/17\/1558670\">Al Borsa<\/a>. The company is currently assessing the market and no decisions have been made, he 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\/careem\/\">Careem<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fuel\/\">fuel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ride-hailing\/\">ride-hailing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"547890\" 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=\"547890\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/transport-ministry-appoints-new-head-of-tunnels-authority\/\">\r\n                            Transport Ministry appoints new head of tunnels authority                        <\/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\/07\/18\/transport-ministry-appoints-new-head-of-tunnels-authority\/\" 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\/07\/18\/transport-ministry-appoints-new-head-of-tunnels-authority\/')\">\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\/07\/18\/transport-ministry-appoints-new-head-of-tunnels-authority\/\">\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=Transport Ministry appoints new head of tunnels authority&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/transport-ministry-appoints-new-head-of-tunnels-authority\/\">\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\/07\/18\/transport-ministry-appoints-new-head-of-tunnels-authority\/&title=Transport Ministry appoints new head of tunnels authority\">\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=Transport+Ministry+appoints+new+head+of+tunnels+authority+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F18%2Ftransport-ministry-appoints-new-head-of-tunnels-authority%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\/07\/18\/transport-ministry-appoints-new-head-of-tunnels-authority\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547890\" class=\"content-area-description single-story post-547890 post type-post status-publish format-standard hentry category-moves tag-enterpriseam tag-moves tag-transport-ministry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>The <strong>Transport Ministry<\/strong> has appointed <strong>Major General Sherif Leil<\/strong> to head the <strong>National<\/strong> <strong>Authority for Tunnels<\/strong>, it said in <a href=\"https:\/\/www.facebook.com\/MinistryTransportation\/posts\/pfbid02JsAbYyPwxpjTMgV8C7pTpD26jojrhvy4iqxzMzn3umrr25pFYLe4G98XigEg46w2l\">a statement<\/a> yesterday. The former head of the authority, Major General Essam Wali, has been made an advisor to Minister Kamal El Wazir, it 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\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport-ministry\/\">Transport Ministry<\/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=\"547891\" 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=\"547891\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/547891\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547891\" class=\"content-area-description single-story post-547891 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=\"547892\" 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=\"547892\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/last-nights-talk-shows-el-sisi-lands-in-berlin-subsidized-bread-prices-arent-changing\/\">\r\n                            Last Night\u2019s Talk Shows: El Sisi lands in Berlin + Subsidized bread prices aren\u2019t changing                        <\/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\/07\/18\/last-nights-talk-shows-el-sisi-lands-in-berlin-subsidized-bread-prices-arent-changing\/\" 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\/07\/18\/last-nights-talk-shows-el-sisi-lands-in-berlin-subsidized-bread-prices-arent-changing\/')\">\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\/07\/18\/last-nights-talk-shows-el-sisi-lands-in-berlin-subsidized-bread-prices-arent-changing\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Last Night\u2019s Talk Shows: El Sisi lands in Berlin + Subsidized bread prices aren\u2019t changing&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/last-nights-talk-shows-el-sisi-lands-in-berlin-subsidized-bread-prices-arent-changing\/\">\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\/07\/18\/last-nights-talk-shows-el-sisi-lands-in-berlin-subsidized-bread-prices-arent-changing\/&title=Last Night\u2019s Talk Shows: El Sisi lands in Berlin + Subsidized bread prices aren\u2019t changing\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Last+Night%E2%80%99s+Talk+Shows%3A+El+Sisi+lands+in+Berlin+%2B+Subsidized+bread+prices+aren%E2%80%99t+changing+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F18%2Flast-nights-talk-shows-el-sisi-lands-in-berlin-subsidized-bread-prices-arent-changing%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\/07\/18\/last-nights-talk-shows-el-sisi-lands-in-berlin-subsidized-bread-prices-arent-changing\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547892\" class=\"content-area-description single-story post-547892 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-abdel-fattah-el-sisi tag-enterpriseam tag-last-nights-talk-shows tag-petersberg-climate-dialogue tag-subsidies wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The nation\u2019s talking heads had a lot to cover last night <\/strong>between President Abdel Fattah El Sisi landing in Berlin, the future of subsidized bread and the national team making it to the 2022 African Men's Handball Championship final.<\/p>\n<p><strong>El Sisi\u2019s visit to Berlin <\/strong>to co-chair this year\u2019s <a href=\"https:\/\/climatenetwork.org\/can-event\/pcd13\/\">Petersbe<\/a><a href=\"https:\/\/climatenetwork.org\/can-event\/pcd13\/\">rg Climate<\/a><a href=\"https:\/\/climatenetwork.org\/can-event\/pcd13\/\"><\/a><a href=\"https:\/\/climatenetwork.org\/can-event\/pcd13\/\">Dialogue<\/a> received coverage from Kelma Akhira (<a href=\"https:\/\/www.youtube.com\/watch?v=X0OUsw4MSsI\">watch, runtime: 2:07<\/a>), Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=qaiww-0VPlQ\">watch, runtime: 4:50<\/a> | <a href=\"https:\/\/www.youtube.com\/watch?v=8IHu8ypGBqE\">1:45<\/a>) and Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=rNxXcsCyAUA\">watch, runtime: 1:04<\/a>).<\/p>\n<p><strong>There will be no changes to the price of subsidized bread<\/strong> following last week\u2019s diesel price hike, head of the bakeries division at the Cairo Chamber of Commerce Attia Hamad told Salet El Tahrir (<a href=\"https:\/\/www.youtube.com\/watch?v=TnfFftqaV-w\">watch, runtime: 4:52<\/a>), adding that the state will bear any additional costs due to the global increase on commodity and oil prices. Neither subsidized or unsubsidized bread will see any increases in prices unless the prime minister or supply minister issue an official statement, he added. We have more on this in this morning\u2019s news well, above.<\/p>\n<p><strong>The final of the 2022 African Men's <\/strong><strong>Handball Championship<\/strong><strong> got plenty of attention:<\/strong> The final will see tournament hosts Egypt play Cape Verde. A victory for the Pharaohs would see the national team claim the trophy for the second year in a row. Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=9y5mHc4irwU\">watch, runtime: 9:28<\/a>), Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=Ux5EfWUbDCw\">watch, runtime: 36:01<\/a>) and Kelma Akhira (<a href=\"https:\/\/www.youtube.com\/watch?v=lgBKf5V7qgc\">watch, runtime: 3:11<\/a>) all had the story.<\/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\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/petersberg-climate-dialogue\/\">Petersberg Climate Dialogue<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/subsidies\/\">subsidies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"547893\" 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\" 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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-rfkkh1u\" data-v=\"4\" data-block-id=\"rfkkh1u\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-rfkkh1u-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-rfkkh1u-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\/\" 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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 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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=\"547894\" 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=\"547894\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/not-a-lot-is-happening-in-the-foreign-press-this-morning\/\">\r\n                            Not a lot is happening in the foreign press 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\/07\/18\/not-a-lot-is-happening-in-the-foreign-press-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\/07\/18\/not-a-lot-is-happening-in-the-foreign-press-this-morning\/')\">\n             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class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/not-a-lot-is-happening-in-the-foreign-press-this-morning\/&title=Not a lot is happening in the foreign press 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=Not+a+lot+is+happening+in+the+foreign+press+this+morning+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F18%2Fnot-a-lot-is-happening-in-the-foreign-press-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\/07\/18\/not-a-lot-is-happening-in-the-foreign-press-this-morning\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547894\" class=\"content-area-description single-story post-547894 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-energy tag-enterpriseam tag-eu tag-israel tag-oil-and-gas wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Hear that? That\u2019s the sound of not very much happening in the foreign press this <\/strong><strong>morning.<\/strong> The only piece of note is brought to us by <a href=\"https:\/\/www.jpost.com\/opinion\/article-712349\">the Jerusalem Post<\/a>, which is looking at the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/613a0e7e-2a74-4d1b-8b28-0c9660944559\">Egypt-Israel-EU gas export agreement<\/a> and Europe\u2019s need for East Med gas following Russia\u2019s invasion of Ukraine.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/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=\"547895\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"547896\" 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=\"547896\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/banque-du-caires-telda-prepaid-card-gets-central-bank-approval\/\">\r\n                            Banque du Caire\u2019s Telda prepaid card gets central bank approval                        <\/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\/07\/18\/banque-du-caires-telda-prepaid-card-gets-central-bank-approval\/\" 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\/07\/18\/banque-du-caires-telda-prepaid-card-gets-central-bank-approval\/')\">\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\/07\/18\/banque-du-caires-telda-prepaid-card-gets-central-bank-approval\/\">\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=Banque du Caire\u2019s Telda prepaid card gets central bank approval&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/banque-du-caires-telda-prepaid-card-gets-central-bank-approval\/\">\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\/07\/18\/banque-du-caires-telda-prepaid-card-gets-central-bank-approval\/&title=Banque du Caire\u2019s Telda prepaid card gets central bank approval\">\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=Banque+du+Caire%E2%80%99s+Telda+prepaid+card+gets+central+bank+approval+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F18%2Fbanque-du-caires-telda-prepaid-card-gets-central-bank-approval%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\/07\/18\/banque-du-caires-telda-prepaid-card-gets-central-bank-approval\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547896\" class=\"content-area-description single-story post-547896 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-banque-du-caire tag-central-bank-of-egypt tag-construction tag-enterpriseam tag-financial-inclusion 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_408146\"\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\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>CBE gives greenlight to BdC\u2019s Telda prepaid card: <\/strong>Banque du Caire has received final approval from the Central Bank of Egypt to launch a prepaid card in collaboration with digital banking app <a href=\"https:\/\/play.google.com\/store\/apps\/details?id=io.telda.app&amp;hl=en&amp;gl=US\">Telda<\/a>, according to <a href=\"https:\/\/tinyurl.com\/muxup9p3\">Hapi Journal<\/a>. The Telda card can be used online and in-store, for money transfers, and for ATM withdrawals inside and outside Egypt. Customers can use the card without being banked.<\/p><p><strong>Those who illegally encroach on the Nile will be referred to military prosecution<\/strong>, as the government continues its crackdown on construction and pollution on the river, Irrigation Minister Mohamed Abdel Aty said in <a href=\"https:\/\/bit.ly\/3IOweJM\">a statement<\/a>. The government has taken new punitive measures against encroachments on agricultural land this year, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/157923d2-2139-4493-ae6b-266f53ef9e23\">suspending food and fertilizer subsidy payments<\/a> to more than 8k people in Kafr El Sheikh. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c1695ea8-c915-49ae-b9f8-c0e2fa17a928\">Draft legal amendments<\/a> approved by the cabinet in March would introduce new fines and jail terms for offenders if passed by the House.<\/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\/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\/banque-du-caire\/\">Banque du Caire<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-inclusion\/\">financial inclusion<\/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=\"547897\" 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=\"547897\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/hike-til-you-drop\/\">\r\n                            Hike \u2019til you drop                        <\/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\/07\/18\/hike-til-you-drop\/\" 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\/07\/18\/hike-til-you-drop\/')\">\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\/07\/18\/hike-til-you-drop\/\">\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=Hike \u2019til you drop&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/hike-til-you-drop\/\">\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\/07\/18\/hike-til-you-drop\/&title=Hike \u2019til you drop\">\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=Hike+%E2%80%99til+you+drop+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F18%2Fhike-til-you-drop%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\/07\/18\/hike-til-you-drop\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547897\" class=\"content-area-description single-story post-547897 post type-post status-publish format-standard hentry category-planet-finance tag-enterpriseam tag-financial-markets tag-inflation tag-monetary-policy tag-planet-finance 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-08\"><\/a> <strong>\u201850 is the new 25\u2019 when it comes to rate hikes: <\/strong>Central banks globally are being pushed to impose bigger interest rate hikes under efforts to keep up with the Federal Reserve\u2019s tightening cycle, prop up their currencies, and tame soaring inflation, <a href=\"https:\/\/www.ft.com\/content\/d189b2f2-808a-4a9b-a856-234181f98c2f\">the Financial Times<\/a> says. Smaller rate hikes of 25 bps or less were once the norm during tightening cycles, but according to the salmon-colored paper\u2019s data, some 55 central banks have made 62 policy rate hikes of at least 50 bps in the three months to June, while another 17 of these bumper hikes were announced in July. That means we\u2019re living through the biggest monetary policy moves made at any time this century.<\/p><p><strong>Forex is key:<\/strong> The strengthening USD is a key driver for the bigger hikes as countries \u2014 and particularly emerging markets \u2014 try to get a handle on inflation. \u201cWe\u2019re seeing a rate hike feeding frenzy,\u201d one investment portfolio manager told the FT. \u201cNowadays the last thing anyone wants is a weak currency.\u201d<\/p><p><strong>50 is small fry in the US these days:<\/strong> The Federal Reserve will likely hike rates by 75 bps for the second consecutive meeting when it meets later this month, according to <a href=\"https:\/\/www.wsj.com\/articles\/fed-officials-preparing-to-lift-interest-rates-by-another-0-75-percentage-point-11658068201\">the Wall Street Journal<\/a>. Worsening inflation data out last week fuelled speculation that the central bank could step up its tightening cycle with a huge 100-bps hike, but some policymakers have since sought to dial back expectations for a full-point increase and publicly came out in favor of 75 bps.<\/p><p><strong>Also worth noting:<\/strong><\/p><ul>\n<li><strong>The Bank of England\u2019s independence could be under threat:<\/strong> Two of the leading candidates vying to succeed Boris Johnson as UK prime minister have signaled that they would bring the Bank of England under greater government control amid criticism of the bank\u2019s failure to tackle inflation and opposition to financial deregulation. (<a href=\"https:\/\/www.ft.com\/content\/13422933-4829-453a-891a-26ffd8359c6b\">FT<\/a> | <a href=\"https:\/\/www.ft.com\/content\/89c5979f-dda3-49cd-be6d-6f737b067111\">FT<\/a>)<\/li>\n<li><strong>Hydro-powered planes?<\/strong> Rolls Royce will trial the use of hydrogen to power small aircraft, an innovation which \u2060\u2014 if it works \u2060\u2014 would help the aviation industry reduce carbon emissions. (<a href=\"https:\/\/www.ft.com\/content\/17f9d9a0-e947-4f57-aac8-fbbec802ca7f\">FT<\/a>)<\/li>\n<\/ul><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>8,773<\/p>\n<\/td>\n<td>\n<p>+0.1% (YTD: -26.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 18.83<\/p>\n<\/td>\n<td>\n<p>Sell 18.91<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 18.85<\/p>\n<\/td>\n<td>\n<p>Sell 18.91<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>11.25% deposit<\/p>\n<\/td>\n<td>\n<p>12.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>11,292<\/p>\n<\/td>\n<td>\n<p>+1.2% (YTD: +0.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>9,250<\/p>\n<\/td>\n<td>\n<p>+0.1% (YTD: +9.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,160<\/p>\n<\/td>\n<td>\n<p>+0.2% (YTD: -1.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 5<\/strong><strong>0<\/strong><strong>0<\/strong><\/p>\n<\/td>\n<td>\n<p>3,863<\/p>\n<\/td>\n<td>\n<p>+1.9% (YTD: -19.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,159<\/p>\n<\/td>\n<td>\n<p>+1.7% (YTD: -3.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td>\n<p>3,477<\/p>\n<\/td>\n<td>\n<p>+2.4% (YTD: -19.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 101.16<\/p>\n<\/td>\n<td>\n<p>+2.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 7.02<\/p>\n<\/td>\n<td>\n<p>+6.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,703.60<\/p>\n<\/td>\n<td>\n<p>-0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 21,004<\/p>\n<\/td>\n<td>\n<p>-0.9% (YTD: -54.6%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 rose 0.1% at yesterday\u2019s close<\/strong> on turnover of EGP 318.46 mn (61.4% below the 90-day average). Local investors were net sellers. The index is down 26.6% YTD.<\/p><p><strong>In the green: <\/strong>Cleopatra Hospitals (+3.1%), Madinet Nasr Housing (+3.1%) and EFG Hermes (+2.4%).<\/p><p><strong>In the red: <\/strong>\u0650Abu Dhabi Islamic Bank- Egypt (-2.3%), Fawry (-2.1%) and Orascom Development Egypt (-2.0%).<\/p><p><strong>Asian markets are solidly in the green this morning <\/strong>and futures suggest stocks in much of Europe, the US and Canada will follow suit later today at the opening bell.<\/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\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/monetary-policy\/\">monetary policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"547898\" 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=\"547898\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/israel-to-investigate-historic-mass-grave-of-egyptian-soldiers-in-jerusalem\/\">\r\n                            Israel to investigate historic mass grave of Egyptian soldiers in Jerusalem                        <\/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\/07\/18\/israel-to-investigate-historic-mass-grave-of-egyptian-soldiers-in-jerusalem\/\" 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\/07\/18\/israel-to-investigate-historic-mass-grave-of-egyptian-soldiers-in-jerusalem\/')\">\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\/07\/18\/israel-to-investigate-historic-mass-grave-of-egyptian-soldiers-in-jerusalem\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Israel to investigate historic mass grave of Egyptian soldiers in Jerusalem&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/israel-to-investigate-historic-mass-grave-of-egyptian-soldiers-in-jerusalem\/\">\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\/07\/18\/israel-to-investigate-historic-mass-grave-of-egyptian-soldiers-in-jerusalem\/&title=Israel to investigate historic mass grave of Egyptian soldiers in Jerusalem\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Israel+to+investigate+historic+mass+grave+of+Egyptian+soldiers+in+Jerusalem+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F18%2Fisrael-to-investigate-historic-mass-grave-of-egyptian-soldiers-in-jerusalem%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\/07\/18\/israel-to-investigate-historic-mass-grave-of-egyptian-soldiers-in-jerusalem\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547898\" class=\"content-area-description single-story post-547898 post type-post status-publish format-standard hentry category-diplomacy tag-climate tag-cop27 tag-diplomacy tag-enterpriseam tag-google tag-israel tag-meta tag-rania-al-mashat tag-sameh-shoukry tag-startups wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Israel will investigate media reports of an unmarked mass grave in Jerusalem <\/strong><strong>believed to contain the remains of Egyptian soldiers <\/strong>killed in the 1967 war, Israeli Prime Minister Yair Lapid told President Abdel Fattah El Sisi in a phone call, according to a <a href=\"https:\/\/tinyurl.com\/2xa6h885\">statement<\/a> from Ittihadiya. Israeli media <a href=\"https:\/\/www.haaretz.com\/israel-news\/2022-07-08\/ty-article-magazine\/.highlight\/revealed-80-egyptian-commandos-buried-under-israeli-tourist-attraction\/00000181-d965-d95d-ab91-ff6f1b260000\">Haaretz<\/a>and Yedioth Ahronoth earlier published archival data and accounts on dozens of Egyptian commandos believed to be buried under what is now an Israeli tourist attraction.<\/p>\n<p><strong>ALSO IN THE DIPLO SPHERE-<\/strong><\/p>\n<ul>\n<li><strong>Shoukry talks COP with the UN:<\/strong> Foreign Minister and COP27 President Sameh Shoukry discussed preparations for the global climate summit with the UN\u2019s interim climate change head, Ibrahim Thiaw, ahead of the Petersberg Climate Dialogue in Berlin. (<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0si7tiZn2nZd3eVxfSXUd5Un791pCfKqM51dxG237kZ1jTiutC8EaDTjKUcbx9HASl\">Statement<\/a>)<\/li>\n<li><strong>El Sisi meets Lurssen chief: <\/strong>President Abdel Fattah El Sisi met with <a href=\"https:\/\/www.luerssen.de\/en\/\">L\u00fcrssen for Ma<\/a><a href=\"https:\/\/www.luerssen.de\/en\/\">ritime Industries<\/a> CEO Peter Lurssen in Berlin. (<a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid0213PDMkiRrdKp8VoLXzpmca2W8xtSQDARjjadJdWsHfTBvxLtPxrsGtTEYugUB5CSl\">Statement<\/a>)<\/li>\n<li><strong>Al Mashat talks startup climate innovation with Google + Meta:<\/strong> International Cooperation Minister Rania Al Mashat met with officials from Google and Meta to discuss ways of supporting innovation among startups to combat climate change. (<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02zXVQwX75bchSGjuxUEby71x9QP3A6kJRVkMcPx9CRCpZ5rySkFrZdsS5BNrf1jPl\">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\/climate\/\">Climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/google\/\">Google<\/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\/meta\/\">meta<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/rania-al-mashat\/\">Rania Al Mashat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sameh-shoukry\/\">Sameh Shoukry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"547899\" 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=\"547899\">\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\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/libya-lifts-oil-production-export-ban\/\">\r\n                            Libya lifts oil production, export ban                        <\/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\/07\/18\/libya-lifts-oil-production-export-ban\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The lifting of the force majeure could allow exports to return to full capacity, adding 850k barrels of oil a day to the global market. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-07-15\/libya-s-new-oil-chief-says-output-will-be-fully-back-in-a-week?sref=mmeFTDW1\">Bloomberg<\/a> | <a href=\"https:\/\/www.reuters.com\/business\/energy\/libya-groups-agree-end-blockade-2022-07-15\/\">Reuters<\/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\/around-the-world\/\">Around the World<\/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\/libya\/\">Libya<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"547900\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27466.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into education in Egypt, from K-12 to post-secondary.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27480.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Monday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/blackboard\/\">\r\n                            Read Blackboard                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">11<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/which-skill-sets-does-the-egyptian-labor-force-look-for-in-fresh-graduates\/\">\r\n                            Which skill sets does the Egyptian labor force look for in fresh graduates?<\/a>\r\n                        <\/h3>\r\n                        \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/which-skill-sets-does-the-egyptian-labor-force-look-for-in-fresh-graduates\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/blackboards\/which-skill-sets-does-the-egyptian-labor-force-look-for-in-fresh-graduates\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/blackboards\/which-skill-sets-does-the-egyptian-labor-force-look-for-in-fresh-graduates\/\">\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=Which skill sets does the Egyptian labor force look for in fresh graduates?&url=https:\/\/enterpriseam.com\/egypt\/blackboards\/which-skill-sets-does-the-egyptian-labor-force-look-for-in-fresh-graduates\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/blackboards\/which-skill-sets-does-the-egyptian-labor-force-look-for-in-fresh-graduates\/&title=Which skill sets does the Egyptian labor force look for in fresh graduates?\">\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=Which+skill+sets+does+the+Egyptian+labor+force+look+for+in+fresh+graduates%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Fblackboards%2Fwhich-skill-sets-does-the-egyptian-labor-force-look-for-in-fresh-graduates%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>                    <\/div>\r\n\r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/which-skill-sets-does-the-egyptian-labor-force-look-for-in-fresh-graduates\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/182.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=\"547901\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/which-skill-sets-does-the-egyptian-labor-force-look-for-in-fresh-graduates\/182-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/182.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"182.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/182.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/182.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-547900\" class=\"content-area-description post-547900 blackboard type-blackboard status-publish has-post-thumbnail hentry tag-cemex tag-education tag-enterprise-blackboard tag-enterpriseam tag-fibonacci-studio tag-hsbc tag-labor tag-pepsico tag-rabbit-mobility tag-sakneen tag-shalakany-law-office tag-zulficar-and-partners wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>What skills<\/strong><strong> do Egyptian businesses look for in fresh graduates?<\/strong> The gap between the skill sets needed in Egypt\u2019s labor market and those seen in university graduates is often cited as a reason for relatively low levels of productivity. This is a regional problem, notes <a href=\"https:\/\/www.beeps-ebrd.com\/wp-content\/uploads\/2022\/06\/mena_es_report.pdf\">a 2022 joint report (pdf)<\/a> on MENA\u2019s private sector growth by the EIB, EBRD and World Bank. Even within MENA, workers in Egypt \u2014 along with Jordan and Tunisia \u2014 perform significantly fewer tasks related to \u201cthe jobs of the future,\u201d requiring nonroutine interpersonal and analytical skills, the report notes.<\/p>\n<p><strong>We asked private sector firms what they want to see in fresh grads:<\/strong> Enterprise sat down with representatives from a range of sectors \u2014 law firms, startups, and companies in a range of industries \u2014 to ask what they\u2019re looking for in the fresh graduates they hire.<\/p>\n<p><strong>What they said, in a nutshell: <\/strong>Obviously, different sectors can have quite specific needs when it comes to subject-matter knowledge and experience. But a common theme ran through our conversations: Candidates who can demonstrate a proactive approach to learning and are ready to apply their knowledge to a work environment are far more desirable than those who rely on rote memorization and being spoon-fed instructions. Unfortunately, while some universities are taking steps to equip students with these skill sets in certain ways, few appear able to provide students with them across the board, sources tell us.<\/p>\n<p><strong>For law firms, being able to adapt and apply legal knowledge is key:<\/strong> Law firms look for candidates who can apply their knowledge creatively to solve problems facing their business clients, representatives of leading Egyptian firms tell Enterprise. \u201cWe aren\u2019t just lawyers; we\u2019re business lawyers,\u201d says <strong>Shalakany<\/strong> Senior Partner Moataz El Mahdy. As such, they look for candidates who will eventually be able to apply their legal knowledge to the business context their clients operate in \u2014 which involves thinking creatively and solving problems, to guide the clients on commercial decisions, he adds.<\/p>\n<p><strong>So candidates need to demonstrate strong research skills: <\/strong>Knowing how to research effectively \u2014 which legal tools to use and how to follow a logical sequence of thought and action, to find solutions to particular issues \u2014 is essential, says Firas El Samad, managing partner at <strong>Zulficar and Partners<\/strong>. This process involves research and reasoning to reach a pragmatic solution to a client\u2019s issue, he adds.<\/p>\n<p><strong>They need to work well in a team: <\/strong>The case work that fresh grads might do \u2014 whether in a law firm\u2019s corporate department, in arbitration or in litigation \u2014 by its very nature involves working in a team, so applicants need to demonstrate they can do this well, notes El Mahdy.<\/p>\n<p><strong>And language skills are also vital: <\/strong>A high level of proficiency in English is essential for business law, because it\u2019s the language in which many contracts are drafted and much of the work is conducted, note El Mahdy and El Samad. Excellent Arabic is obviously also mandatory, and a knowledge of French is advantageous, says El Samad. But just as important as mastering sophisticated contractual language to draft contracts is the ability to not bombard clients with legal jargon, they add. \u201cOften your clients don\u2019t have a legal background, so you need to inform them of their options and risks using layman\u2019s terms, getting straight to the point,\u201d says El Samad.<\/p>\n<p><strong>For startups, some sector-specific knowledge is good \u2014 but what\u2019s really needed is experience: <\/strong>The most valuable skill set for startups is practical exposure to the work of the startup, coupled with maturity, says Yousef ElSammaa, Managing Director of venture studio firm <strong>Fibonacci Studio<\/strong>. \u201cOf course, if you\u2019re looking for a more technical job, you\u2019d want to see more technical skills. Developers would want people who know certain languages and have experience of coding with them. But technical skills aren\u2019t that valuable if they don\u2019t come with experience.\u201d<\/p>\n<p><strong>The key thing is how they approach the job: <\/strong>\u201cAs a startup you\u2019re always understaffed, so people need to do everything \u2014 within and outside their job descriptions,\u201d says Kamal El Soueni, co-founder and CEO of <strong>Rabbit Mobility<\/strong>. \u201cWe need people with the right attitude, who take ownership of their work.\u201d Part of Rabbit\u2019s interview process involves assessing how a candidate responds to feedback, whether they show resistance or see it as a positive form of coaching, notes El Soueni. A big part of adapting quickly to working life involves working proactively, so startups look for people who understand that it\u2019s their responsibility to develop themselves, says ElSammaa. \u201cStartups need people who will take the initiative and then learn as they go,\u201d he adds.<\/p>\n<p><strong>And it\u2019s also beneficial to think critically about the job, rather than go through the motions:<\/strong> \u201cWhen we delegate tasks to fresh grads, the ones that do best are those who understand why we\u2019re doing the task, rather than just the task\u2019s parameters,\u201d says Hussein El Kheshen, co-founder and CTO of <strong>Sakneen<\/strong>. \u201cThen they can gauge as they move along how to build on the task, without constantly depending on guidance from another team member.\u201d<\/p>\n<p><strong>Sector-specific companies \u2014 whether multinational or domestic \u2014 may look for certain hard skills and industry knowledge<\/strong>, representatives say. \u201cWe work in the industrial sector,\u201d notes Wafik Beshara, VP of HR at <strong>CEMEX<\/strong> Egypt. \u201cSo we typically need fresh grads who are mechanical or electrical engineers if they are working in the plant, or civil or construction engineers if they\u2019re working in our commercial or technical sites.\u201d When <strong>TBS<\/strong> hires fresh grads as operational team members \u2014 including baristas \u2014 assessing functional competencies, like how quickly they can make coffee and set a table, is part of the hiring process, says Tarek Nour, TBS General Manager.<\/p>\n<p><strong>But many firms don\u2019t expect to see large cohorts of fresh grads with specific technical skills:<\/strong> It isn\u2019t possible to hire fresh grads for many of the jobs in TBS requiring specific hard skills, including team members working in supply chain management, procurement, warehousing, and finished goods, notes Nour. This skill and knowledge acquisition comes with work experience, he adds. And while the majority of fresh grads that apply to <strong>HSBC Egypt<\/strong> majored in accounting or business, the company still sees \u2014 and welcomes \u2014 applicants from multiple fields, says head of HR Moustafa Raouf.<\/p>\n<p><strong>So above all, they look for behavior traits like dynamism, curiosity and flexibility: PepsiCo Egypt<\/strong> primarily assesses candidates on several skills and qualities that indicate their long-term potential for growth in the organization \u2014 like curiosity and interest in learning, providing peer support, demonstrating emotional intelligence and flexibility, strong relationship management, being results oriented, and being able to look broadly at the needs of the organization, says HR Senior Director Naniece Fahmy.<\/p>\n<p><strong>Many of these can be demonstrated outside of an educational environment,<\/strong> and fresh grads often give examples in recruitment interviews of how they\u2019ve exhibited these skills in their interpersonal relationships or extracurricular activities \u2014 rather than within a specific academic context, note Fahmy, Nour, Raouf and Beshara.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top education stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Private sector to enter Japanese schools? <\/strong>Education Minister Tarek Shawki said he is drawing up a <a href=\"https:\/\/tinyurl.com\/4s9ar469\">plan<\/a> to build more local <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/28c605aa-e83b-41f8-a16b-4835b7b90e68\">Japanese schools<\/a> in partnership with the private sector.<\/li>\n<li><strong>New tech unis:<\/strong> Cabinet approved <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b659bf47-13ed-4fb8-90c4-848497e49ad9\">building six new technology universities<\/a> in Giza, Alexandria, Port Said, Luxor, Assiut and Gharbiya governorates.<\/li>\n<li><strong>The government will launch more than 20 green projects at COP27 <\/strong>and host a pre-COP youth conference for young people to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e091da66-dfef-4daf-863d-fd4f3176fd16\">share their thoughts<\/a> and suggestions for addressing the climate crisis.<\/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\/cemex\/\">CEMEX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fibonacci-studio\/\">Fibonacci Studio<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hsbc\/\">HSBC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/labor\/\">labor<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pepsico\/\">PepsiCo<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/rabbit-mobility\/\">Rabbit Mobility<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sakneen\/\">Sakneen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/shalakany-law-office\/\">Shalakany Law Office<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/zulficar-and-partners\/\">Zulficar and Partners<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"547902\" 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\/07\/18\/547902\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547902\" class=\"content-area-description single-story post-547902 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>JULY<\/strong><\/p>\n<p>July: A law governing ins. for seasonal contractors will come into effect.<\/p>\n<p>July: Actis\u2019 expected sale of its majority stake in Lekela to Infinity and Masdar.<\/p>\n<p>18-19 July (Monday-Tuesday): <a href=\"https:\/\/climatenetwork.org\/can-event\/pcd13\/\">Petersberg Climate Dialogue<\/a>, Berlin.<\/p>\n<p>19 July (Tuesday): The national dialogue\u2019s board to <a href=\"https:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/471198\/Egypt\/Politics-\/UPDATED-Egypt%E2%80%99s-national-dialogue-board-of-trustee.aspx\">reconvene<\/a>.<\/p>\n<p>21 July (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>21-22 July (Thursday-Friday): The Arab Organisation for Human Rights (AOHR) and Supreme Standing Committee for Human Rights (SSCHR) <a href=\"https:\/\/english.ahram.org.eg\/News\/471632.aspx\">human rights conference<\/a>.<\/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>August: Sharm El Sheikh will host the African Sumo Championship.<\/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: <a href=\"https:\/\/bit.ly\/3lshDZX\">Naval Power<\/a>, Egypt\u2019s first naval defense expo<\/p>\n<p>September: Central Bank of Egypt\u2019s Innovation and Financial Technology Center to launch incubator for 25 fintech startups.<\/p>\n<p>September: <a href=\"https:\/\/www.facebook.com\/mift.media\/posts\/pfbid034CjQppGScajHW83ktsmyHavSTQRys9Ezbp9KXCNfPg61XwgzSvHVYi7RfHWxsTESl\">Egyptian-German Joint Economic Committee<\/a>.<\/p>\n<p>September: A delegation from Germany\u2019s Aldi will visit Egypt to look at potential investments.<\/p>\n<p>6-9 September (Tuesday-Friday): Gate Travel Expo 2022, El Kobba Palace, Cairo.<\/p>\n<p>7-9 September (Wednesday-Friday): African Finance Ministers to <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid034TbdNfjuu5yHr2NAycih1ggLyA8CPUgnE4AB8MF3SD1Zpv5rTvBmitm7sb4GyiqDl\">meet in Cairo<\/a> to coordinate an African-led position during COP27.<\/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: Air Sphinx, EgyptAir\u2019s low-cost subsidiary to <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=25062022&id=06c1fc4b-9551-4f6c-a782-70bdec4b30f0\">commence operations<\/a>.<\/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.<\/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): <a href=\"https:\/\/www.autotechegypt.com\/en\/home.html\">Autotech<\/a> auto exhibition, Cairo International Exhibition and Convention Center.<\/p>\n<p>6-18 November (Sunday-Friday): Egypt will host <a href=\"https:\/\/cop27.eg\/\">COP27<\/a> in Sharm El Sheikh.<\/p>\n<p>7-13 November (Mon-Sun): The International University Sports Federation (FISU) <a href=\"https:\/\/www.worldsquash.org\/2022-fisu-world-university-championship-squash-to-take-place-in-egypt\/\">World University<\/a> Squash Championships, New Giza.<\/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>December: The Sixth of October dry port <a href=\"https:\/\/bit.ly\/3u3uB4u\">will begin operations<\/a>.<\/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>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":547881,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-547880","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"d9e5984d-270c-41ac-b895-391aa9542b25","teaser":"","photo_url":"https:\/\/ent.news\/2022\/7\/15.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>MNHD wants SODIC to bump up its offer price - 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\/mnhd-wants-sodic-to-bump-up-its-offer-price\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MNHD wants SODIC to bump up its offer price\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/mnhd-wants-sodic-to-bump-up-its-offer-price\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T22:00:43+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/15.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\/mnhd-wants-sodic-to-bump-up-its-offer-price\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/mnhd-wants-sodic-to-bump-up-its-offer-price\/\",\"name\":\"MNHD wants SODIC to bump up its offer price - 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