{"id":547983,"date":"2022-07-21T04:00:24","date_gmt":"2022-07-21T04:00:24","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=547983"},"modified":"2025-12-15T22:03:25","modified_gmt":"2025-12-15T22:03:25","slug":"welcome-to-the-end-of-an-ma-heavy-week","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/welcome-to-the-end-of-an-ma-heavy-week\/","title":{"rendered":"Welcome to the end of an M&#038;A heavy week"},"content":{"rendered":"<section id=\"547985\" 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=\"547985\">\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\/21\/this-morning-privatization-consultations-continue-today-mcdonalds-just-jacked-up-its-prices-by-50\/\">\r\n                            THIS MORNING: Privatization consultations continue today + McDonalds just jacked up its prices by 50%                        <\/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 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entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Well, friends, we\u2019ve nearly made it through another (M&amp;A-heavy) workweek together. <\/strong>We hope the week has been good to you \u2014 and that if you\u2019re sneaking off early to Sahel, that you\u2019re able to do it early enough to sidestep congestion at the bawabet.<\/p><p><strong>PSA #1- It\u2019s not just you \u2014 Microsoft Teams is down for plenty of users worldwide <\/strong>as of dispatch time this morning. Enterprise has always run on Slack, but our sister company uses Teams and has been unable to connect since about 3:20am CLT. Microsoft acknowledged the issue <a href=\"https:\/\/twitter.com\/MSFT365Status\/status\/1549934141738651648\">here<\/a> and you can use <a href=\"https:\/\/downdetector.com\/status\/teams\/\">Down Detector<\/a> to see how other users are faring if you\u2019re still unable to log in. <strong>Maybe that\u2019s your cue to head to the coast early? \u201cSorry, dude, I can\u2019t get into Teams to join our meeting.\u201d<\/strong><\/p><p><strong>PSA #2- Teens might have to get their ID cards a year earlier<\/strong> under a draft law approved by the cabinet yesterday that would lower the legal age to 15 from 16, according to <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02CwbLzKZNfrEqtfquYKADrQ48ArcTK8Wa4qRzudzuEv3dSrUaXW18ANAjkiarCgc6l\">a cabinet statement<\/a>.<\/p><hr class=\"grey-line\"><p><strong>WATCH THIS SPACE #1- An Egyptian-foreign consortium has been awarded the <\/strong><strong>Cairo Transport Authority development project<\/strong>, which includes adding 100 electric buses to its fleet, a senior government official told Enterprise. This comes as part of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7cc2419e-b95a-4513-a27e-ed1db1ab9d0f\">USD 200 mn World Bank loan<\/a> to fight air pollution we got last year and it marks the beginning of transforming our transport system to rely on natural gas and electricity instead of diesel. <strong>Look for an announcement as early as the end of next week<\/strong>, the source tells us.<\/p><p><strong>WATCH THIS SPACE #2- Paints company Pachin should announce today whether its <\/strong><strong>board has approved a takeover bid from Saybad. <\/strong>We have more in this morning\u2019s news well, below.<\/p><p><strong>CORRECTION- Islamic New Year falls this year on <\/strong><strong><a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2644863\">Saturday, 30 July<\/a><\/strong><strong>.<\/strong> We got the date wrong in yesterday\u2019s EnterpriseAM. Our expectation remains the same: Islamic New Year will fall on a weekend, and we won\u2019t have a weekday holiday to replace it, suggesting our next (and final) weekday holiday of the year will likely be Thursday, 6 October. We\u2019ll have more for you as soon as we hear from cabinet.<\/p><p><strong>SIGNS OF THE TIMES-<\/strong><\/p><p><strong>#1- <\/strong><strong>You\u2019re paying a lot more for your next Big Mac:<\/strong> McDonald\u2019s Egypt has hiked meal prices <a href=\"https:\/\/al-ain.com\/article\/big-jump-mcdonalds-egypt-prices-new-price\">by up to 50%<\/a> in response to rising inflation. The price of a share box has risen from EGP 40 to EGP 165, a Big Mac meal now costs EGP 78 (up from EGP 52), and even the price of a small bottle of water has gone up 33%. <strong>At the old pricing, <\/strong><strong><a href=\"https:\/\/www.economist.com\/big-mac-index\">the Economist\u2019s Big Mac Index<\/a><\/strong><strong> suggested the EGP was undervalued about 52.9% against the USD. <\/strong><\/p><p><strong>#2- More US tech layoffs: <\/strong>Ride-hailing service Lyft has laid off about 60 employees from its rental division as the company struggles with rising costs, according to an employee memo seen by the <a href=\"https:\/\/www.wsj.com\/articles\/lyft-lays-off-about-60-employees-folds-its-car-rentals-for-riders-11658340622\">Wall Street Journal<\/a>.<\/p><p><strong>#3- And Microsoft appears to be heading towards a hiring freeze:<\/strong> Microsoft is cutting many of its open jobs ahead of an expected economic slowdown, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-07-20\/microsoft-cuts-many-open-job-listings-in-weakening-economy?sref=mmeFTDW1\">Bloomberg<\/a>.<\/p><p><strong>WHAT\u2019S HAPPENING TODAY- <\/strong><\/p><p><strong>The government\u2019s public consultations on its state ownership policy continue today<\/strong> with representatives from manufacturers of medical devices having their say. The wholesale and retail sectors took part in discussions on Tuesday this week. Every Sunday, Tuesday and Thursday sees workshops on how privatization plans will affect specific industries. You can find more details on the schedule of the meetings <a href=\"https:\/\/bit.ly\/3noxSrm\">here<\/a>.<\/p><p><strong>It\u2019s going to be an interesting day in the European bond markets:<\/strong> The European Central Bank (ECB) will likely exit negative interest rates for the first time since 2016 when it meets for its policy meeting today. Policymakers are considering a larger-than-expected 50-bps hike, according to <a href=\"https:\/\/www.ft.com\/content\/160e24da-946e-4652-a69c-369fa3b68172\">the Financial Times<\/a>, which if true, would lift rates in the euro area to zero. The Bank of Japan also meets today, and is expected to remain one of the only central banks to leave its monetary policy on easy mode.<\/p><p><strong>But on the day of the meeting, the sick man of Europe is about to get sicker:<\/strong> Italy\u2019s government is close to collapse after Prime Minister (and ex-ECB chief) Mario Draghi failed to secure the backing of his coalition partners in a parliamentary vote on his future. <a href=\"https:\/\/www.politico.eu\/article\/latest-mario-draghi-brink-italy-prime-minister-government-collapse-crisis\/\">Politico<\/a> has more.<\/p><p><strong>Asian markets are mixed ahead of the central bank meetings:<\/strong> Shares in China, Hong Kong and Japan are comfortably in the red, while the Kospi is seeing slight gains. Shares in the US and Europe are poised to fall later today, while Italy is on course for a major sell-off.<\/p><p><strong>THE BIG STORIES ABROAD- <\/strong><\/p><p><strong>Tesla earnings are dominating the business front pages this morning:<\/strong> The EV-maker witnessed its first quarterly fall in profits in over a year in 2Q but still managed to beat estimates as price hikes helped it overcome production and supply chain disruptions caused by the covid lockdowns in China, according to its <a href=\"https:\/\/ent.news\/2022\/7\/tsla-q2-22-update.pdf\">earnings release (pdf)<\/a> out yesterday.<\/p><p><strong>Turns out Musk isn\u2019t the diamond-handed crypto bro we thought he was:<\/strong> A year after becoming one of the biggest cheerleaders for DeFi, Musks\u2019s company reacted to the ongoing crypto winter by dumping around 75% of its BTC holdings, netting it USD 936 mn in cash. (<a href=\"https:\/\/www.ft.com\/content\/a58cd8ae-d4d8-4e31-9001-507580d10cda\">FT<\/a> | <a href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/tesla-misses-quarterly-revenue-estimates-production-challenges-2022-07-20\/\">Reuters<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/tesla-earnings-tsla-q2-2022-11658287416\">Wall Street Journal<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-07-20\/tesla-converts-most-bitcoin-adds-936-million-to-balance-sheet?srnd=premium&amp;sref=mmeFTDW1\">Bloomberg<\/a> | <a href=\"https:\/\/www.cnbc.com\/2022\/07\/20\/tesla-converted-75percent-of-bitcoin-purchases-to-fiat-currency-in-q2-2022.html\">CNBC<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/technology\/2022\/07\/20\/tesla-earnings-elon-musk\/\">Washington Post<\/a>)<\/p><p><strong>*** THE LOCAL ANGLE- People who are definitely not crypto bros are the folks over at the Financial <\/strong><strong>Regulatory Authority<\/strong>, who yesterday <a href=\"https:\/\/ent.news\/2022\/7\/FRA-crypto-warning.pdf\">issued a warning (pdf)<\/a> to investors and NBFS players not to participate in initial coin offerings (ICOs). Referring to crypto as a form of gambling, the regulator said that investors risk being scammed or losing their money due to its highly-volatile nature. Though crypto trading is illegal under banking and Islamic law, the asset class <a href=\"https:\/\/www.coindesk.com\/business\/2021\/03\/05\/egyptians-are-buying-bitcoin-despite-prohibitive-new-banking-laws\/\">became more popular<\/a> in Egypt last year as people sought to get a piece of the BTC bubble.<\/p><p><strong>Russia wants to expand the borders of Novorossiya: <\/strong>Russia is now eying Ukraine\u2019s south, extending its objectives beyond the eastern Donbas region, Russian Foreign Minister Sergei Lavrov told Russian news agency <a href=\"https:\/\/ria.ru\/20220720\/spetsoperatsiya-1803701411.html\">RIA Novosti<\/a>. \u201cIt is far from being only DPR (Donetsk People's Republic) and LPR (Luhansk People's Republic), it is also Kherson region, Zaporizhzhya region and a number of other territories, and this process continues, it continues steadily and persistently,\u201d he said. The US said this week that Moscow is preparing to stage referendums in territories outside of the Donbas region and annex them. (<a href=\"https:\/\/www.ft.com\/content\/84c4beae-fbd6-4d1e-aeb5-5d147b9621a4\">FT<\/a> | <a href=\"https:\/\/edition.cnn.com\/2022\/07\/20\/europe\/russia-ukraine-military-objective-east-donbas-intl\/index.html\">CNN<\/a> | <a href=\"https:\/\/www.reuters.com\/world\/europe\/lavrov-says-russias-objectives-ukraine-now-go-beyond-donbas-2022-07-20\/\">Reuters<\/a> | <a href=\"https:\/\/www.politico.eu\/article\/sergey-lavrov-russia-expand-ukraine-war-goal\/\">Politico<\/a>)<\/p><p><strong>No breakthrough yet on wheat blockade as Putin visits Tehran: <\/strong>Russian President Vladimir Putin thanked his Turkish counterpart Recep Tayyip Erdogan for trying to broker an agreement to get Ukrainian grain past Russia\u2019s blockade of its Black Sea ports, but said \u201cnot all the issues have been resolved,\u201d <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-07-19\/putin-to-meet-iranian-and-turkish-leaders-with-war-center-stage?srnd=premium-middle-east#xj4y7vzkg\">Bloomberg<\/a> reports. Sources close to the talks have reported progress in the negotiations but <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c431b2e5-7bad-4fc0-8498-ea3b8c68db17\">earlier this week said<\/a> that Ukraine remains wary of Moscow\u2019s intentions and has not agreed to demine Odessa port and release the grain. There had been <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/21ab2964-2247-49c5-9382-21eb9d2a5620\">murmurs<\/a> that an agreement could be announced sometime this week.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>The national dialogue board is set to meet again before the end of the month<\/strong>, marking its third meeting since the board convened earlier in July. The session will see the board decide on heads and members of the three political subcommittees it agreed on during a meeting earlier this.<\/p><p><strong>IDG to host cultural festival with sustainable waste in focus at Alamein:<\/strong> Our friends at Industrial Development Group (IDG) are hosting a cultural festival at their eco-sustainable industrial park, e2 Alamein, on the North Coast, according to <a href=\"https:\/\/ent.news\/2022\/7\/IDG-PR-Alamein-Industrial-Park-E-V1.docx-1.pdf\">a statement (pdf)<\/a>. The \u201cLocale\u201d festival, which IDG is hosting in partnership with Art d\u2019Egypte, will showcase nine art installations made with recycled materials to raise \u201cawareness around waste management and encouraging waste prevention, reuse, and recycling behavior.\u201d The event launches this Thursday, 21 July and runs through the summer.<\/p><p><strong>Calling tech startups:<\/strong> Universities of Canada in Egypt-based incubator DMZ Cairo has opened applications for its second eight-month incubation program for tech startups, which begins in November, according to <a href=\"https:\/\/ent.news\/2022\/7\/PR-1-DMZ-Cairo-Cycle-2.pdf\">a statement (pdf)<\/a>. The incubator \u2014 which is backed by the Academy of Scientific Research and Technology and the National Technological Incubators Program \u2014 is accepting applications for the cycle until 29 September.<\/p><p><strong>Further afield, leaders from across Africa are scheduled to convene in Washington for <\/strong><strong>the US-Africa Leaders Summit from 13-15 December.<\/strong> The summit will bring together leaders to discuss pressing matters including food security and climate change, according to a <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/speeches-remarks\/2022\/07\/20\/statement-by-president-biden-on-the-u-s-africa-leaders-summit\/\">White House statement<\/a>.<\/p><p><strong>Thirty fashion scholarships are up for grabs:<\/strong> City Centre Almaza and fashion school <a href=\"https:\/\/www.esmod.com\/en\/ecole\/beirut\/\">ESMOD Beirut<\/a> are joining forces to offer 30 local designers one-month scholarships, which will include courses in fashion design, pattern making and styling and image consulting, according to a <a href=\"https:\/\/ent.news\/2022\/7\/MAF-CC-Almaza-Partners-with-ESMOD-Press-Release-English-20.7.22.pdf\">statement<\/a><a href=\"https:\/\/ent.news\/2022\/7\/MAF-CC-Almaza-Partners-with-ESMOD-Press-Release-English-20.7.22.pdf\">(pdf)<\/a>. You can register for the scholarship <a href=\"https:\/\/ccalmaza-fashionflair.com\/\">here<\/a> and the chosen candidates will be announced on 15 August.<\/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>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/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\/state-privatization-program\/\">state privatization program<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tesla\/\">Tesla<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ukraine\/\">Ukraine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"547986\" 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=\"547986\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/547986\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547986\" class=\"content-area-description single-story post-547986 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/somabay.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/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\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=\"547987\" 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=\"547987\">\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\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/cabinet-approves-military-ipos\/\">\r\n                            Cabinet approves military IPOs                        <\/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\/21\/cabinet-approves-military-ipos\/\" 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\/21\/cabinet-approves-military-ipos\/')\">\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\/21\/cabinet-approves-military-ipos\/\">\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=Cabinet approves military IPOs&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/cabinet-approves-military-ipos\/\">\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\/21\/cabinet-approves-military-ipos\/&title=Cabinet approves military IPOs\">\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=Cabinet+approves+military+IPOs+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F21%2Fcabinet-approves-military-ipos%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\/21\/cabinet-approves-military-ipos\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/217.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"547988\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/cabinet-approves-military-ipos\/217-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/217.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"217.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/217.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/217.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547987\" class=\"content-area-description single-story post-547987 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-enterpriseam tag-ipo-watch tag-national-security tag-safi tag-state-privatization-program tag-wataniya-petroleum 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>A step closer to a military IPO:<\/strong> The state is moving forward with the EGX listing of the National Company for Producing and Bottling Water (Safi) and Wataniya Petroleum after the cabinet approved the pre-listing procedures for the military companies during its weekly meeting yesterday, according to <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02CwbLzKZNfrEqtfquYKADrQ48ArcTK8Wa4qRzudzuEv3dSrUaXW18ANAjkiarCgc6l\">a statement<\/a>.<\/p>\n<p><strong>This has been a long time coming: <\/strong>The Sovereign Fund of Egypt (SFE) <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/14b94986-d461-4f36-ab26-cf9227098f74\">said in 2020<\/a> that Wataniya and Safi will be the first two subsidiaries of the military\u2019s National Service Products Organization (NSPO) the fund will move to privatize. The fund said at the time that the state would first market the firms to private investors, before selling additional shares on the bourse. Several regional energy companies <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/01c49589-519c-41ba-aca7-91d478b8aa97\">were reported in mid-2021<\/a> to be conducting due diligence on Wataniya ahead of a potential stake purchase, but nothing has been heard since.<\/p>\n<p><strong>Cabinet gave no additional information on the mechanism or timing of the sales<\/strong>, mentioning the green light only in passing at the end of its readout on the weekly cabinet meeting. Listing on the EGX would, we expect, also involve restructuring that could clear the way for a pre-IPO sale of equity to a strategic investor.<\/p>\n<p><strong>The trigger: <\/strong>Last month <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7cd9a361-7664-491a-8579-5bd3b45d50ed\">Prime Minister Moustafa Madbouly asked<\/a> the Finance Ministry to prepare plans for selling stakes in NSPO-owned companies, including how much of each company would be privatized and the timeline.<\/p>\n<p><strong>Don\u2019t expect IPOs any time soon:<\/strong> The government is unlikely to sign off on any public share sales until market sentiment improves. Banque du Caire has reportedly <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/004a2209-c482-4067-af0e-5ba87566e2d4\">postponed its planned IPO<\/a> as global equity markets have tanked \u2014 and with them the EGX. The benchmark EGX 30 is well into bear market territory YTD, having lost nearly 24% since the start of the year.<\/p>\n<p><strong>Background: <\/strong>The Madbouly government had previously said it wanted to sell stakes in as many as 10 state-owned and two military-owned companies this year. It signaled that it is open to both stake sales and IPOs, depending on market conditions and individual investor interest. While market conditions have put a damper on those plans, President Abdel Fattah El SIsi subsequently said Egypt plans to net some USD 10 bn annually in each of the coming four years through the sale of state assets.<\/p>\n<p><strong>Also in the pipeline:<\/strong> The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e20e3ec-470d-40fc-bd71-c08efcd42d82\">new state-owned hotel company<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/330b3729-74cc-48ec-91f5-1d3276107b0f\">Egypt Aluminum<\/a> (EgyptAlum) have both been earmarked for sales to strategic investors.<\/p>\n<p><strong>The story is getting attention internationally:<\/strong> <a href=\"https:\/\/www.reuters.com\/business\/egypt-list-army-companies-wataniya-safi-2022-07-20\/\">Reuters<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-security\/\">national security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/safi\/\">Safi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-privatization-program\/\">state privatization program<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wataniya-petroleum\/\">Wataniya Petroleum<\/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=\"547989\" 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=\"547989\">\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\/21\/beltone-has-10-days-to-decide-on-chimeras-takeover-bid\/\">\r\n                            Beltone has 10 days to decide on Chimera\u2019s takeover bid                        <\/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\/21\/beltone-has-10-days-to-decide-on-chimeras-takeover-bid\/\" 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\/21\/beltone-has-10-days-to-decide-on-chimeras-takeover-bid\/')\">\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\/21\/beltone-has-10-days-to-decide-on-chimeras-takeover-bid\/\">\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=Beltone has 10 days to decide on Chimera\u2019s takeover bid&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/beltone-has-10-days-to-decide-on-chimeras-takeover-bid\/\">\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\/21\/beltone-has-10-days-to-decide-on-chimeras-takeover-bid\/&title=Beltone has 10 days to decide on Chimera\u2019s takeover bid\">\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=Beltone+has+10+days+to+decide+on+Chimera%E2%80%99s+takeover+bid+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F21%2Fbeltone-has-10-days-to-decide-on-chimeras-takeover-bid%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\/21\/beltone-has-10-days-to-decide-on-chimeras-takeover-bid\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547989\" class=\"content-area-description single-story post-547989 post type-post status-publish format-standard hentry category-ma-watch tag-chimera-investments tag-enterpriseam tag-ma-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Beltone Financial has until 3 August to come to a decision on Chimera<\/strong> <strong>Investments\u2019 bid<\/strong> to acquire up to 90% of its shares, <a href=\"https:\/\/ent.news\/2022\/7\/Screenshot-2022-07-20-141654.pdf\">the EGX said (pdf)<\/a> yesterday. The Abu Dhabi-based investment firm <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/87891e6c-e1e4-43e2-b979-03cc61acde2a\">submitted a bid<\/a> to acquire the shares for EGP 1.485 apiece in June, an offer that values the company at around EGP 690 mn. The offer was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fa29ca31-5b82-416f-908d-63bd5f9b7db6\">approved<\/a> by the Financial Regulatory Authority (FRA) on Tuesday.<\/p>\n<p><strong>Majority shareholder OFH is mulilng the offer, which has received FRA approval, and plans to come to a decision in the coming days<\/strong>, CEO Nils Bachtler told Enterprise earlier this week. It\u2019s not yet clear how big of a stake Orascom Financial Holding (OFH) could offer up, but Bachtler said that \u201call options are open\u201d and that the decision will be made once the board concludes its discussions. OFH owns around 58% of the company with the rest in freefloat.<\/p>\n<p><strong>What now? <\/strong>Shareholders owning at least 51% of Beltone\u2019s shares must agree to sell for the acquisition to go through. Chimera has the right to adjust its offer price throughout the process.<\/p>\n<p><strong>Advisors:<\/strong> Chimera has tapped Matouk Bassiouny & Hennawy as legal counsel to the Abu Dhabi-based fund.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/chimera-investments\/\">Chimera Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"547990\" 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=\"547990\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/mohamed-el-sewedy-acquires-sportswear-brand-magma\/\">\r\n                            Mohamed El Sewedy acquires sportswear brand Magma                        <\/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\/21\/mohamed-el-sewedy-acquires-sportswear-brand-magma\/\" 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\/21\/mohamed-el-sewedy-acquires-sportswear-brand-magma\/')\">\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\/21\/mohamed-el-sewedy-acquires-sportswear-brand-magma\/\">\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=Mohamed El Sewedy acquires sportswear brand Magma&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/mohamed-el-sewedy-acquires-sportswear-brand-magma\/\">\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\/21\/mohamed-el-sewedy-acquires-sportswear-brand-magma\/&title=Mohamed El Sewedy acquires sportswear brand Magma\">\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=Mohamed+El+Sewedy+acquires+sportswear+brand+Magma+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F21%2Fmohamed-el-sewedy-acquires-sportswear-brand-magma%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\/21\/mohamed-el-sewedy-acquires-sportswear-brand-magma\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/221.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"547991\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/mohamed-el-sewedy-acquires-sportswear-brand-magma\/221-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/221.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"221.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/221.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/221.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547990\" class=\"content-area-description single-story post-547990 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-averroes-ventures tag-enterpriseam tag-ma-watch tag-magma tag-saybad-industrial-investment tag-venture-capital wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Mohamed El Sewedy<\/strong> <strong>h<\/strong><strong>as acquired<\/strong><strong> local sportswear brand <\/strong><strong><a href=\"https:\/\/magmasportswear.com\/\">Magma<\/a><\/strong> for an undisclosed amount, <a href=\"https:\/\/www.facebook.com\/AverroesVentures\/\">Averroes Ventures<\/a>, which worked on the transaction, said in <a href=\"https:\/\/ent.news\/2022\/7\/Press-Release-Averroes-Ventures-spearheads-the-acquisition-of-Magma-Sportswear-with-Investments-from-Mohamed-El-Sewedy.pdf\">a press release (pdf)<\/a>. The acquisition saw El Sewedy \u2014 who was already an investor and partner in Magma \u2014 buy out another partner for full ownership of the firm, Averroes Ventures CEO Ahmed Al Sharif told Enterprise, without disclosing the name of the seller. Averroes Ventures did not disclose the value of the acquisition.<\/p>\n<p><strong>Averroes Ventures\u2019 role was to help restructure Magma and arrange for the buyout<\/strong>, he explained, adding that the firm will now assist with the company\u2019s expansion and operations. El Sewedy is now Magma\u2019s chairman, while Amr Abu Ali is its newly appointed CEO.<\/p>\n<p><strong>What\u2019s next for Magma?<\/strong> A facelift of the brand and expansion into new markets, with an entry into Saudi Arabia on the cards before the end of the year, Al Sharif said. Magma will also open its <strong>flagship store in Egypt before the end of 2023<\/strong>, he added.<\/p>\n<p><strong>IN OTHER M&A NEWS-<\/strong><\/p>\n<p><strong>Look out for an announcement today on whether Pachin\u2019s board has approved Saybad\u2019s <\/strong><strong>takeover bid<\/strong><strong>.<\/strong> EGX-listed Paint and Chemical Industries (Pachin) held its general assembly meeting yesterday to discuss Saybad Industrial Investment\u2019s bid to buy 100% of its shares, according to an <a href=\"https:\/\/ent.news\/2022\/7\/%D8%A8%D8%A7%D9%83%D9%8A%D9%86-%D8%AF%D8%B9%D9%88%D8%A9-%D9%85%D8%AC%D9%84%D8%B3-20-7-2022.pdf\">EGX disclosure (pdf)<\/a>. Saybad\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/be49d19c-306f-4ee9-b6ee-b0dba42a18be\">offer<\/a> prices Pachin\u2019s shares at between EGP 16.00 and EGP 16.50 apiece, valuing the company at EGP 384-396 mn. The takeover bid comes as \u201cthe first actual application\u201d of the state\u2019s privatization plans, a source with first-hand knowledge of the transaction told Enterprise earlier this week. Around 54% of the company is currently owned by state-owned companies and banks, the source added.<\/p>\n<p><strong>ADVISORS-<\/strong> Catalyst Partners is acting as Pachin's financial advisor. Adsero\u2013Raji Soliman & Associates is the firm\u2019s legal advisor.<\/p>\n<p><em>Correction: 23 July 2022<\/em><\/p>\n<p><em>A previous version of this article incorrectly stated that Averroes Ventures acquired Magma.<\/em><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/averroes-ventures\/\">Averroes Ventures<\/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\/magma\/\">Magma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saybad-industrial-investment\/\">Saybad Industrial Investment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/venture-capital\/\">venture capital<\/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=\"547992\" 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=\"547992\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/fmo-commits-usd-10-mln-to-algebras-second-tech-fund\/\">\r\n                            FMO commits USD 10 mln to Algebra\u2019s second tech fund                        <\/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\/21\/fmo-commits-usd-10-mln-to-algebras-second-tech-fund\/\" 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\/21\/fmo-commits-usd-10-mln-to-algebras-second-tech-fund\/')\">\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\/21\/fmo-commits-usd-10-mln-to-algebras-second-tech-fund\/\">\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=FMO commits USD 10 mln to Algebra\u2019s second tech fund&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/fmo-commits-usd-10-mln-to-algebras-second-tech-fund\/\">\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\/21\/fmo-commits-usd-10-mln-to-algebras-second-tech-fund\/&title=FMO commits USD 10 mln to Algebra\u2019s second tech fund\">\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=FMO+commits+USD+10+mln+to+Algebra%E2%80%99s+second+tech+fund+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F21%2Ffmo-commits-usd-10-mln-to-algebras-second-tech-fund%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\/21\/fmo-commits-usd-10-mln-to-algebras-second-tech-fund\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/222.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"547993\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/fmo-commits-usd-10-mln-to-algebras-second-tech-fund\/222-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/222.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"222.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/222.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/222.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547992\" class=\"content-area-description single-story post-547992 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-algebra-ventures tag-enterpriseam tag-fmo tag-international-finance-corporation tag-investment-watch tag-startups wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Dutch development bank FMO has pledged USD 10 mn to Algebra Ventures\u2019 <\/strong><strong>second tech fund<\/strong>, the bank and our friends at Algebra said in separate statements (<a href=\"https:\/\/www.fmo.nl\/news-detail\/2a34e292-3494-4696-a590-58443baa1625\/fmo-invests-in-algebra-ventures-and-continues-to-support-the-egyptian-venture-capital-ecosystem\">here<\/a> and <a href=\"https:\/\/ent.news\/2022\/7\/FMO-invests-in-Algebra-Ventures-and-continues-to-support-the-Egyptian-venture-capital-ecosystem.pdf\">here, pdf<\/a>). The money is coming from FMO\u2019s EUR 200 mn investment program, which is co-financed by the Dutch foreign ministry and the European Commission.<\/p>\n<p><strong>Algebra Ventures II: <\/strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0b05a266-cfd0-4843-a495-2434a6187cd1\">Launched<\/a> in April 2021, the fund will focus on Egyptian startups \u201cwith an allocation for the wider Middle East and Africa region,\u201d according to Algebra\u2019s statement. It will pursue early-stage investment opportunities, particularly in fintech, agritech, edutech, logistics, e-commerce and healthcare. Algebra has said the fund will eventually be worth USD 90 mn.<\/p>\n<p><strong>Development finance institutions (DFIs to insiders) like Algebra:<\/strong> FMO joins the International Finance Corporation, which <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8954b8ca-bfc6-4e9c-a730-6d5ae54e3ccc\">signed on in April<\/a> for USD 15 mn, matching an <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a399cd5e-9462-4273-b3c2-f8bec5c73af3\">earlier commitment<\/a>from the European Bank for Reconstruction and Development (EBRD). The Egyptian American Enterprise Fund and Cisco Investments were also limited partners <a href=\"https:\/\/enterprise.press\/stories\/2016\/12\/15\/algebra-venture-completes-first-closing-of-venture-capital-fund\/\">in Algebra\u2019s first fund<\/a>.<\/p>\n<p><strong>FMO is no stranger to the region\u2019s tech scene <\/strong>and has invested in local fintechs Paymob and Dopay as well as Jordan-based SME fintech Liwwa in recent years. \u200b\u200b\u201d[The investment] aligns with the bank\u2019s ambition to enable innovative business models for impact across Africa, the Middle East and parts of Asia,\u201d FMO said in its statement. FMO has also invested in <a href=\"https:\/\/ir.qalaaholdings.com\/en\/news-and-disclosures\/news\/1285\">refining<\/a> and <a href=\"https:\/\/www.fmo.nl\/project-detail\/51506\">solar power<\/a> assets, among others, in Egypt.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/algebra-ventures\/\">Algebra Ventures<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fmo\/\">FMO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/international-finance-corporation\/\">International Finance Corporation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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=\"547994\" 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=\"547994\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/rosatom-starts-construction-of-dabaa-nuclear-plant\/\">\r\n                            Rosatom starts construction of Dabaa nuclear plant                        <\/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\/21\/rosatom-starts-construction-of-dabaa-nuclear-plant\/\" 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\/21\/rosatom-starts-construction-of-dabaa-nuclear-plant\/')\">\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\/21\/rosatom-starts-construction-of-dabaa-nuclear-plant\/\">\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=Rosatom starts construction of Dabaa nuclear plant&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/rosatom-starts-construction-of-dabaa-nuclear-plant\/\">\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\/21\/rosatom-starts-construction-of-dabaa-nuclear-plant\/&title=Rosatom starts construction of Dabaa nuclear plant\">\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=Rosatom+starts+construction+of+Dabaa+nuclear+plant+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F21%2Frosatom-starts-construction-of-dabaa-nuclear-plant%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\/21\/rosatom-starts-construction-of-dabaa-nuclear-plant\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/223.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"547995\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/rosatom-starts-construction-of-dabaa-nuclear-plant\/223-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/223.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"223.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/223.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/223.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547994\" class=\"content-area-description single-story post-547994 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-dabaa-nuclear-plant tag-energy tag-enterpriseam tag-nuclear-energy tag-rosatom tag-russia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>The Dabaa nuclear plant is finally getting off the ground: <\/strong>Russian state nuclear company Rosatom has started building the 4.8 GW Dabaa nuclear power plant, the company said in <a href=\"https:\/\/www.rosatom.ru\/en\/press-centre\/news\/main-construction-phase-for-el-dabaa-nuclear-power-plant-project-begins-in-egypt\/\">a statement<\/a>. The company yesterday began laying the concrete foundations for the plant, kicking off an eight-year construction process that is expected to see it come online at the beginning of the next decade.<\/p>\n<p><strong>Refresher:<\/strong> Rosatom was contracted in 2015 to handle the construction and provide fuel for the plant, which will feature four 1.2-GW reactors. The facility will cost somewhere around USD 30 bn, 85% of which is being financed through a USD 25 bn loan from Russia, with Egypt scheduled to begin repaying the sum in October 2029.<\/p>\n<p><strong>Covid forced a two-year delay:<\/strong> Construction work was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/27a6e1fc-82cd-4dd5-abf4-5f1d9d018f3d\">set to begin in the second half of 2020<\/a> and complete by the 2028-2029 fiscal year, but disruptions caused by the pandemic now means that the plant is unlikely to be up and running before 2030. Rosatom <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/df47f8d0-1ae1-4f1b-8f4f-6c076adc9523\">acquired a license<\/a> to begin construction earlier this month.<\/p>\n<p><strong>The news was picked up in the foreign press:<\/strong> <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-07-20\/russia-s-nuclear-giant-starts-building-of-egypt-s-first-reactors?sref=mmeFTDW1\">Bloomberg<\/a> | <a href=\"https:\/\/www.thenationalnews.com\/mena\/2022\/07\/20\/egypts-first-nuclear-power-plant-under-way-as-russias-rosatom-breaks-ground\/\">The National<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dabaa-nuclear-plant\/\">Dabaa nuclear plant<\/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\/nuclear-energy\/\">nuclear energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/rosatom\/\">Rosatom<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"547996\" 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=\"547996\">\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\">A MESSAGE FROM<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/547996\/\">\r\n                                                    <\/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\/21\/547996\/\" 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\/21\/547996\/')\">\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\/21\/547996\/\">\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=&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/547996\/\">\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\/21\/547996\/&title=\">\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=+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F21%2F547996%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\/21\/547996\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/NEW-LOGO-SPRITE-1600x.png?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"547997\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/547996\/new-logo-sprite-1600x-png-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/NEW-LOGO-SPRITE-1600x.png?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"NEW-LOGO-SPRITE-1600x.png\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/NEW-LOGO-SPRITE-1600x.png?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/NEW-LOGO-SPRITE-1600x.png?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547996\" class=\"content-area-description single-story post-547996 post type-post status-publish format-standard has-post-thumbnail hentry category-a-message-from tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>The Coca-Cola Company launched a more sustainable product by replacing the memorable green Sprite bottle with a transparent (clear PET) one. The Coca-Cola Company, with its World Without Waste program, aims to help in collecting and recycling the same number of bottles for every bottle sold, leading to plastic neutrality by 2030, as well as to use up to 50% of recycled materials in the bottles and cans by the same year. <a href=\"https:\/\/www.coca-colacompany.com\/faqs\/what-is-world-without-waste\">Learn more here<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"547998\" 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=\"547998\">\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\">Transport<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/swvl-losses-to-almost-double-this-year\/\">\r\n                            Swvl losses to almost double this year                        <\/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\/21\/swvl-losses-to-almost-double-this-year\/\" 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\/21\/swvl-losses-to-almost-double-this-year\/')\">\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\/21\/swvl-losses-to-almost-double-this-year\/\">\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 losses to almost double this year&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/swvl-losses-to-almost-double-this-year\/\">\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\/21\/swvl-losses-to-almost-double-this-year\/&title=Swvl losses to almost double this year\">\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+losses+to+almost+double+this+year+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F21%2Fswvl-losses-to-almost-double-this-year%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\/21\/swvl-losses-to-almost-double-this-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547998\" class=\"content-area-description single-story post-547998 post type-post status-publish format-standard hentry category-transport tag-earnings tag-enterpriseam tag-swvl 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-06\"><\/a> <strong>Swvl expects losses to almost double this year: <\/strong>Cairo-born mass transport app Swvl is expecting its losses to widen to USD 90 mn this year from USD 50 mn in 2021, Swvl CFO Youssef Salem told <a href=\"https:\/\/www.asharqbusiness.com\/article\/39777\">Bloomberg Asharq<\/a>. The Nasdaq-listed company still expects to turn a slight profit next year on the back of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1c783ee0-2afb-4dfd-802d-3296cbbf08c4\">job cuts<\/a> and cutting unprofitable routes before making USD 13 mn in 2024. \u201cPart of our plan for the next few months, and in order to turn profitable in light of the sharp change in the market, is to focus on the routes that have the highest rates of operation and profitability,\u201d he said.<\/p>\n<p><strong>Cutting costs:<\/strong> The company has slashed its headcount by a third, cutting executive pay and eliminating unprofitable routes <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ac7d324a-5688-46b7-a6d1-dac8aa9c0688\">in Egypt<\/a>, Jordan and Kenya as it looks to ride out current market headwinds and achieve its financial targets for 2023.<\/p>\n<p><strong>Revenues are looking more solid:<\/strong> Swvl raised its 2022 guidance when it reported <a href=\"https:\/\/ent.news\/2022\/7\/Swvl_Q122-earnings.pdf\">1Q 2022 earnings (pdf)<\/a> in April, and now expects to generate USD 160 mn in revenues this year, up from USD 100 mn in 2021. The company expects this to jump to USD 400 mn in 2023, Salem told the business newswire.<\/p>\n<p><strong>The market still isn\u2019t buying it:<\/strong> The company\u2019s share price fell another 4.5% in New York yesterday, leaving it down almost 81% since its IPO less than four months ago. Shares are now trading at USD 1.9 after debuted at USD 10 apiece.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"547999\" 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=\"547999\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/outsourcing-startup-stllr-closes-six-figure-usd-investment-round\/\">\r\n                            Outsourcing startup Stllr closes six-figure USD investment round                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/outsourcing-startup-stllr-closes-six-figure-usd-investment-round\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/outsourcing-startup-stllr-closes-six-figure-usd-investment-round\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/outsourcing-startup-stllr-closes-six-figure-usd-investment-round\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Outsourcing startup Stllr closes six-figure USD investment round&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/outsourcing-startup-stllr-closes-six-figure-usd-investment-round\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/outsourcing-startup-stllr-closes-six-figure-usd-investment-round\/&title=Outsourcing startup Stllr closes six-figure USD investment round\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Outsourcing+startup+Stllr+closes+six-figure+USD+investment+round+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F21%2Foutsourcing-startup-stllr-closes-six-figure-usd-investment-round%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/outsourcing-startup-stllr-closes-six-figure-usd-investment-round\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/226.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"548000\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/outsourcing-startup-stllr-closes-six-figure-usd-investment-round\/226-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/226.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"226.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/226.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/226.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-547999\" class=\"content-area-description single-story post-547999 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam tag-outsourcing tag-startup-watch tag-startups tag-stllr 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>Egyptian outsourcing startup <\/strong><strong><a href=\"https:\/\/www.stllr.network\/\">Stllr Network<\/a><\/strong><strong> has closed a six-figure USD investment ro<\/strong><strong>und<\/strong> from Silicon Valley VC <a href=\"https:\/\/500.co\/\">500 Global<\/a> and angel investors through <a href=\"https:\/\/womenspark.co\/\">Women Spark<\/a> and <a href=\"https:\/\/falak.sa\/en\/investors\/angel-network\">Falak Angels<\/a>, it said in <a href=\"https:\/\/ent.news\/2022\/7\/Press-Release-Stllr-Network-closes-six-figure-amount.pdf\">a statement (pdf)<\/a>. Investors from the Saudi Investment Ministry, ex-Microsoft and Oracle leaders, Accenture, Emkan and the Digital Cooperation Organization all took part in the round. Stllr is a Delaware-domiciled company.<\/p>\n<p><strong>Stllr allows businesses to outsource their marketing:<\/strong> Stllr has built a network of marketing professionals that provide a range of services \u2014 including SEO, media buying, copywriting and social media \u2014 for its clients. The company\u2019s services are currently used in Egypt, Saudi Arabia and the UAE and it has hired talent from more than 12 countries, CEO Nouran Ghannam told us. The company recently completed the <a href=\"https:\/\/500.co\/accelerators\/sanabil-mena-seed-accelerator\">2022 Sanabil 500 MENA Seed Accelerator Program<\/a>, and is currently piloting its services with Saudi e-commerce player Zid, TikTok MENA, Hesas Misr and others.<\/p>\n<p><strong>Where the money\u2019s going:<\/strong> \u201cWe plan to invest in acquiring the best Egyptian and Middle East talents, regional expansion across KSA and the GCC and partnering for enterprise to try out our premium add-ons,\u201d Ghannam said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/outsourcing\/\">outsourcing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/stllr\/\">Stllr<\/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=\"548001\" 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=\"548001\">\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\">Cabinet watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/say-cheese\/\">\r\n                            Say cheese                        <\/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\/21\/say-cheese\/\" 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\/21\/say-cheese\/')\">\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\/21\/say-cheese\/\">\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=Say cheese&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/say-cheese\/\">\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\/21\/say-cheese\/&title=Say cheese\">\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=Say+cheese+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F21%2Fsay-cheese%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\/21\/say-cheese\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/227.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"548002\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/say-cheese\/227-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/227.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"227.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/227.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/227.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548001\" class=\"content-area-description single-story post-548001 post type-post status-publish format-standard has-post-thumbnail hentry category-cabinet-watch tag-cabinet-watch tag-enterpriseam tag-photography tag-suez-canal-authority tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>That selfie is no longer going to get your phone confiscated:<\/strong> Members of the public will be allowed to take photos of public places under recommendations greenlit by the cabinet yesterday, according to <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02CwbLzKZNfrEqtfquYKADrQ48ArcTK8Wa4qRzudzuEv3dSrUaXW18ANAjkiarCgc6l\">a statemen<\/a><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02CwbLzKZNfrEqtfquYKADrQ48ArcTK8Wa4qRzudzuEv3dSrUaXW18ANAjkiarCgc6l\">t<\/a>. Egyptians and foreigners will be permitted to use cameras for personal use without needing to obtain a permit or pay fees, the statement says.<\/p>\n<p><strong>Still off limits: <\/strong>Photographers will still need permits to take pictures of ministries, legislative councils, government facilities, police stations, buildings and any site affiliated with the military.<\/p>\n<p><strong>And nothing \u201coffensive,\u201d please:<\/strong> Photographers and producers will be banned from shooting scenes considered \u201coffensive\u201d to the country, Tourism Minister Khaled El Enany <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b7ed9f61-0b57-4ca5-a4df-1ccf85bd9008\">said<\/a> earlier this week. Filming adults without their consent and children are also off limits.<\/p>\n<p><strong>Any form of professional photography will still require a permit as well.<\/strong> That includes photography for cinematic, television, documentary and commercial purposes, as well as photojournalism, media, advertising, or professional photography.<\/p>\n<p><strong>The tight rules on filming haven\u2019t been doing Egypt\u2019s online optics much good as of late<\/strong> after a number of online influencers and vloggers (see: <a href=\"https:\/\/www.youtube.com\/watch?v=8LzuZrkEY18\">watch, runtime: 17:41<\/a>) reported less-than-positive experiences.<\/p>\n<p><strong>The foreign press is talking about it:<\/strong> <a href=\"https:\/\/www.barrons.com\/amp\/news\/egypt-authorities-allow-street-photography-ministry-01658340607\">AFP<\/a> | <a href=\"https:\/\/www.thenationalnews.com\/mena\/egypt\/2022\/07\/20\/egypt-to-allow-photography-in-public-spaces\/\">The National<\/a><\/p>\n<p><strong>ALSO FROM THE CABINET\u2019S MEETING:<\/strong><\/p>\n<ul>\n<li><strong>The Suez Canal fund: <\/strong>Ministers greenlit draft amendments to the law establishing <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c99d027f-c860-48d6-bf77-9f281deb827a\">the<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c99d027f-c860-48d6-bf77-9f281deb827a\">EGP 2 bn fund<\/a> owned by the Suez Canal Authority that is being set up to support the authority;s economic development. The Prime Minister will appoint the fund\u2019s board, which will be headed by SCA head Osama Rabie.<\/li>\n<li><strong>More EV charging stations: <\/strong>The cabinet approved a contract between the Transport Ministry\u2019s Land Transport Regulatory Agency and an unnamed company to construct 12 EV charging stations.<\/li>\n<li><strong>Korean firms to help Egypt locally-produce rolling stock:<\/strong> Ministers approved a contract between the National Authority for Tunnels and a Korean-Egyptian consortium including the National Company for Railway Industries (NERC) to locally produce 40 train carriages for the metro.<\/li>\n<li><strong>More money into the Social Housing Fund: <\/strong>The cabinet gave the Finance Ministry the go-ahead to backstop a loan that will be issued to the Social Housing and Mortgage Finance Fund to help it build 1 mn new housing units.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cabinet-watch\/\">cabinet watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/photography\/\">photography<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-authority\/\">Suez Canal Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548003\" 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=\"548003\">\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\">Kudos<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/euromoney-awards-for-hsbc-efg-hermes-and-cib\/\">\r\n                            Euromoney awards for HSBC, EFG Hermes and CIB                        <\/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\/21\/euromoney-awards-for-hsbc-efg-hermes-and-cib\/\" 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\/21\/euromoney-awards-for-hsbc-efg-hermes-and-cib\/')\">\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\/21\/euromoney-awards-for-hsbc-efg-hermes-and-cib\/\">\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=Euromoney awards for HSBC, EFG Hermes and CIB&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/euromoney-awards-for-hsbc-efg-hermes-and-cib\/\">\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\/21\/euromoney-awards-for-hsbc-efg-hermes-and-cib\/&title=Euromoney awards for HSBC, EFG Hermes and CIB\">\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=Euromoney+awards+for+HSBC%2C+EFG+Hermes+and+CIB+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F21%2Feuromoney-awards-for-hsbc-efg-hermes-and-cib%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\/21\/euromoney-awards-for-hsbc-efg-hermes-and-cib\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548003\" class=\"content-area-description single-story post-548003 post type-post status-publish format-standard hentry category-kudos tag-awards tag-banking tag-cib tag-efg-hermes tag-enterpriseam tag-fawry tag-hsbc tag-kudos tag-smes tag-world-bank wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>EFG Hermes, HSBC and CIB walked away with awards <\/strong>from the <a href=\"https:\/\/www.euromoney.com\/awards\/awards-for-excellence\/awards-for-excellence-2022#mideast\">2022 Euromoney Awards for Excellence<\/a> last week.<\/p>\n<ul>\n<li><strong>HSBC <\/strong>was named best bank for environmental, social and governance (ESG) standards in Egypt and received the awards for the Middle East\u2019s best investment bank and best bank for sustainable finance for the fourth year in a row (<a href=\"https:\/\/ent.news\/2022\/7\/HSBC-Egypt-Euromoney-Award-win.pdf\">statement, pdf<\/a>);<\/li>\n<li><strong>EFG Hermes<\/strong> took home the award for best CSR in Egypt;<\/li>\n<li><strong>CIB<\/strong> was recognized as best bank in Egypt for SME banking and digital solutions, and was named the Middle East\u2019s best bank for SMEs.<\/li>\n<\/ul>\n<p><strong>Fawry partners up with World Bank-backed initiative to help women-led SMEs: <\/strong>Fawry will work with the World Bank-backed <a href=\"https:\/\/we-fi.org\/\">Women Entrepreneurs Finance Initiative (We-Fi<\/a>) to help train Egyptian women entrepreneurs in e-commerce under the World Bank and International Finance Corporation-funded <a href=\"https:\/\/ent.news\/2022\/7\/E-Commerce_and_Women-Led_SMEs_in_MENA.pdf\">program (pdf)<\/a>, it <a href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:6955543812492398592\/\">said<\/a> yesterday. The e-payments giant will help train female entrepreneurs on digital marketing, export markets and shipping, and online payment gateways, Hassan Abdelgelil, Fawry\u2019s chief investment officer, told Enterprise.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/awards\/\">awards<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fawry\/\">Fawry<\/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\/kudos\/\">KUDOS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smes\/\">SMEs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-bank\/\">World Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548004\" 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=\"548004\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/548004\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548004\" class=\"content-area-description single-story post-548004 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.sodic.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/Enterprise-Ad-REVEAL_Bike_1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548005\" 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=\"548005\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/last-nights-talk-shows-on-safi-and-wataniyas-long-awaited-egx-debuts\/\">\r\n                            Last Night\u2019s Talk Shows on Safi and Wataniya\u2019s long awaited EGX debuts                        <\/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\/21\/last-nights-talk-shows-on-safi-and-wataniyas-long-awaited-egx-debuts\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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href=\"https:\/\/x.com\/intent\/post?text=Last Night\u2019s Talk Shows on Safi and Wataniya\u2019s long awaited EGX debuts&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/last-nights-talk-shows-on-safi-and-wataniyas-long-awaited-egx-debuts\/\">\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\/21\/last-nights-talk-shows-on-safi-and-wataniyas-long-awaited-egx-debuts\/&title=Last Night\u2019s Talk Shows on Safi and Wataniya\u2019s long awaited EGX debuts\">\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+on+Safi+and+Wataniya%E2%80%99s+long+awaited+EGX+debuts+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F21%2Flast-nights-talk-shows-on-safi-and-wataniyas-long-awaited-egx-debuts%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\/21\/last-nights-talk-shows-on-safi-and-wataniyas-long-awaited-egx-debuts\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548005\" class=\"content-area-description single-story post-548005 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-abdel-fattah-el-sisi tag-diplomacy tag-egx tag-enterpriseam tag-ipo-watch tag-last-nights-talk-shows tag-national-security tag-safi wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The decision to move forward with the IPOs of military firms Safi and Wataniya Petroleum <\/strong><strong>got headline treatment on the talk shows last night.<\/strong> The cabinet yesterday approved pre-listing procedures for the share sales, which have now been in the works for over two years. We have more on the upcoming listings in this morning's IPO Watch, above.<\/p>\n<p><strong>Can the sales pull the EGX out of its tail spin?<\/strong> \u201cThe move will have a positive impact on the EGX and investors,\u201d Rania Yacoub, a member of the FRA\u2019s advisory committee, said on Ala Mas\u2019ouleety last night (<a href=\"https:\/\/www.youtube.com\/watch?v=DnC6Nl5J2mQ\">watch, runtime: 3:07<\/a>). Medhat Nafei, an advisor to Ministry of Supply, wasn\u2019t so sure, telling Yahdoth Fi Masr (<a href=\"https:\/\/www.youtube.com\/watch?v=MZm2zLKnA7Y\">watch, runtime: 4:55<\/a>) that the EGX needs to be revived and reformed before new companies can be listed. The benchmark index is currently trading at its lowest level since November 2016 and is down more than 23% YTD as the war in Ukraine, rising interest rates, and soaring inflation fuel volatility in the financial markets.<\/p>\n<p><strong>El Sisi\u2019s time in Serbia was once again on the airwaves last night: <\/strong>President Abdel Fattah El Sisi held talks with Serbian President Aleksandar Vu\u010di\u0107 yesterday then held a joint presser (<a href=\"https:\/\/www.youtube.com\/watch?v=w6cpc4ojAiE\">watch, runtime: 7:34<\/a> | <a href=\"https:\/\/www.youtube.com\/watch?v=mRfkb2t6QvU\">3:43<\/a>). Masaa DMC also had the story (<a href=\"https:\/\/www.youtube.com\/watch?v=elsmcd-shyU\">watch, runtime: 0:29<\/a>). We have more on this in this morning\u2019s Diplomacy section, below.<\/p>\n<p><strong>Cabinet\u2019s decision yesterday to allow people to take pictures in public without the need <\/strong><strong>for permits or payments<\/strong> will give our tourism sector an online image boost, Tourism Minister Khaled El Enany told Yahduth Fi Masr (<a href=\"https:\/\/www.youtube.com\/watch?v=zK9DfcA7yt4\">watch, runtime: 3:34<\/a>). More on that and the cabinet\u2019s latest batch of decisions in the Cabinet Watch above.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/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\/national-security\/\">national security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/safi\/\">Safi<\/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=\"548006\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n  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class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548007\" 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=\"548007\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/548007\/\">\r\n                                                    <\/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\/21\/548007\/\" 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 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href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/548007\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548007\" class=\"content-area-description single-story post-548007 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>This morning in the international press:<\/strong> Tumbleweed.gif<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548008\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548009\" 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=\"548009\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/gasc-in-talks-for-new-wheat-buy-the-cairo-hotel-market-rebounds-in-2022\/\">\r\n                            GASC in talks for new wheat buy + the Cairo hotel market rebounds in 2022                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/gasc-in-talks-for-new-wheat-buy-the-cairo-hotel-market-rebounds-in-2022\/&title=GASC in talks for new wheat buy + the Cairo hotel market rebounds in 2022\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=GASC+in+talks+for+new+wheat+buy+%2B+the+Cairo+hotel+market+rebounds+in+2022+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F21%2Fgasc-in-talks-for-new-wheat-buy-the-cairo-hotel-market-rebounds-in-2022%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/gasc-in-talks-for-new-wheat-buy-the-cairo-hotel-market-rebounds-in-2022\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548009\" class=\"content-area-description single-story post-548009 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-capiter tag-commodities tag-egaad tag-enterpriseam tag-fintech tag-gasc tag-hospitality tag-manufacturing tag-tourism tag-wheat wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>GASC is in direct talks with 14 wheat suppliers to buy an undisclosed amount of wheat<\/strong>, traders tell <a href=\"https:\/\/www.nasdaq.com\/articles\/egypt-in-wheat-purchase-talks-with-14-companies-traders-say\">Reuters<\/a>. The state grains buyer is yet to make a purchase and negotiations are ongoing, they said.<\/p>\n<p><strong>GASC launched a new tender yesterday<\/strong> after <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d278241a-bb02-4e38-a1b6-c6f9e9e2bee5\">canceling one on Tuesday<\/a> due to high prices, and called for offers from all 17 accredited import origins. Suppliers were asked to submit bids on a cost and freight basis (CFR) for shipment between September and November.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>Cairo's hotels are filling up again:<\/strong> Cairo's hotel occupancy rates were up to 60% during the first five months of 2022, nearly doubling y-o-y, according to <a href=\"https:\/\/ent.news\/2022\/7\/JLL_Cairos-hotel-sector-on-an-upward-trajectory-in-the-second-quarter-EN-20-Jul-22.docx.pdf\">a report (pdf)<\/a> from real estate services firm JLL.<\/li>\n<li>Fintech player <strong><a href=\"https:\/\/luckyegypt.com\/ar\">Lucky<\/a><\/strong> has partnered with B2B marketplace <strong><a href=\"https:\/\/capiter.net\/\">Capiter<\/a><\/strong> to provide its customers with special offers, including using the Lucky One card without charge. (<a href=\"https:\/\/ent.news\/2022\/7\/Capiter-X-Lucky-EN-PRL-Final.pdf\">Statement, pdf<\/a>)<\/li>\n<li><strong>Switzerland<\/strong> will provide Egypt with a<strong> grant worth CHF 9.3 mn<\/strong> (EGP 181.9 mn) for a <strong>water project<\/strong> in Aswan. (<a href=\"https:\/\/www.maspero.eg\/wps\/portal\/home\/egynews\/news\/egypt\/details\/97155711-cd2a-454e-8777-1174e0fc2404\/\">MENA<\/a>)<\/li>\n<li><strong>Hot air balloons can fly again in Luxor <\/strong>after a two-day suspension to investigate a collision earlier this week that lightly injured two tourists. (<a href=\"https:\/\/english.ahram.org.eg\/NewsContent\/1\/1238\/471814\/Egypt\/Tourism\/Hot-air-balloon-trips-resume-in-Luxor-after-twoday.aspx\">Ahram Online<\/a>)<\/li>\n<li><strong><a href=\"https:\/\/egaad.net\/\">Egyptian African Arab Co. for Development<\/a><\/strong><strong> (EGAAD)<\/strong> \u2014 a consortium of 22 Egyptian contracting companies \u2014 will build a <strong>food factory <\/strong>over the next two years in <strong>C\u00f4te d\u2019Ivoire<\/strong>. (<a href=\"https:\/\/bit.ly\/3vpjPGL\">Al Mal<\/a>) <\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/capiter\/\">Capiter<\/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\/egaad\/\">EGAAD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gasc\/\">GASC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hospitality\/\">hospitality<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548010\" 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=\"548010\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">15<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/the-incoming-em-debt-crisis-is-getting-worse\/\">\r\n                            The incoming EM debt crisis is getting worse                        <\/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\/21\/the-incoming-em-debt-crisis-is-getting-worse\/\" 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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There are now 21 nations with yields 10% higher than US treasuries, a warning sign that indicates a rising risk of default.<\/p><p><strong>Egypt is one of them:<\/strong> Egypt, along with Nigeria and Kenya, saw sovereign bonds falling into distressed territory recently, according to the business newswire. With a number of large foreign debt repayments on the horizon, Moody\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e115975f-e507-4f53-a7c0-99b9d67b43e3\">warned in May<\/a> that it could downgrade Egypt\u2019s credit rating if its foreign reserves fall further. Egypt is due to repay almost USD 4 bn in November and another USD 3 bn in February, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-07-07\/why-developing-countries-are-facing-a-debt-default-crisis?sref=mmeFTDW1\">Bloomberg<\/a> data.<\/p><p><strong>Almost a fifth of all EM sovereign debt was trading at distressed levels earlier this month:<\/strong> Bonds worth USD 237 bn were in distressed territory earlier this month \u2014 and that was before Angola and Gabon joined the club of nations staring down the barrel of a debt crisis.<\/p><p><strong>Higher interest rates are only making debt relief more important:<\/strong> Low-income countries will suffer rising poverty and instability if rich nations don\u2019t get serious about providing debt relief, World Bank President David Malpass <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-07-19\/world-bank-chief-says-g-20-s-debt-relief-delay-to-worsen-poverty?srnd=premium-middle-east&amp;sref=mmeFTDW1\">said<\/a> following the G20 meeting this week, which made little progress on debt reduction.<\/p><p><strong>Countries that do default on their debt \u201cmust brace themselves for tricky <\/strong><strong>negotiations ahead,\u201d <\/strong>writes the <a href=\"https:\/\/www.ft.com\/content\/c4d17d8e-66f6-48fb-9a64-c8ebdfd46dcb\">Financial Times\u2019 Alan Beattie<\/a>, arguing that a lack of clear international rules on how to restructure sovereign debt and the rise of China as a sovereign creditor will make it difficult to restructure debt fairly. Most defaulters aren\u2019t big-spending EMs who have bitten off more debt than they can chew, he adds. \u201cIt\u2019s important to keep this in context and not start turning it into a morality play about feckless developing country governments,\u201d Beattie writes.<\/p><p><strong>Also worth noting this morning: <\/strong><\/p><ul>\n<li><strong>Russia and Iran just signed a huge oil and gas agreement:<\/strong> Gazprom is to invest USD 40 bn to develop Iranian oil and gas fields in what Iranian media say is the largest-ever foreign investment in the country\u2019s fossil fuel industry. (<a href=\"https:\/\/www.tasnimnews.com\/en\/news\/2022\/07\/19\/2745261\/40-bln-investment-deal-signed-between-iran-s-nioc-russia-s-gazprom\">Tasnim<\/a>)<\/li>\n<li><strong>Remember the Evergrande debacle? It never went away.<\/strong> The Chinese real-estate developer has not yet reached an agreement with its international creditors on restructuring that was supposed to be announced for a July deadline. (<a href=\"https:\/\/www.wsj.com\/articles\/china-evergrande-prepares-to-shed-light-on-restructuring-as-creditors-patience-wears-thin-11658309400?mod=hp_lead_pos4\">Wall Street Journal<\/a>) <\/li>\n<li><strong>Removing conflicts of interest can be profitable, too:<\/strong> Big Four firm EY says splitting its auditing and consulting divisions could earn it as much as USD 10 bn in fees from Silicon Valley tech firms. (<a href=\"https:\/\/www.ft.com\/content\/4b544040-8cf1-454a-823f-63077f068a42\">Financial Times<\/a>).<\/li>\n<li><strong>Is Apple a healthcare company now? <\/strong>The tech giant has published a <a href=\"https:\/\/www.apple.com\/newsroom\/pdfs\/Health-Report-July-2022.pdf\">60-page report<\/a> on how it\u2019s pioneering health technology, including sleep monitoring, fitness classes, atrial-fibrillation detection and cycle tracking. The report marks the first time Apple has laid out its strategy to capitalize on existing health features; it\u2019s getting ink from <a href=\"https:\/\/www.google.com\/url?q=https:\/\/www.reuters.com\/technology\/apple-outlines-health-technology-strategy-new-report-2022-07-20\/&amp;sa=D&amp;source=docs&amp;ust=1658373019172978&amp;usg=AOvVaw3-G8rQ-6g9AMJAGjVGbS_D\">Reuters<\/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>9,113<\/p>\n<\/td>\n<td>\n<p>+0.9% (YTD: -23.7%)<\/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 18.88<\/p>\n<\/td>\n<td>\n<p>Sell 18.96<\/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 18.90<\/p>\n<\/td>\n<td>\n<p>Sell 18.96<\/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>11,864<\/p>\n<\/td>\n<td>\n<p>+0.9% (YTD: +5.2%)<\/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>9,399<\/p>\n<\/td>\n<td>\n<p>+1.0% (YTD: +10.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,212<\/p>\n<\/td>\n<td>\n<p>+0.8% (YTD: +0.5%)<\/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 500<\/strong><\/p>\n<\/td>\n<td>\n<p>3,960<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: -16.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,264<\/p>\n<\/td>\n<td>\n<p>-0.4% (YTD: -1.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td>\n<p>3,585<\/p>\n<\/td>\n<td>\n<p>-0.1% (YTD: -16.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 106.92<\/p>\n<\/td>\n<td>\n<p>-0.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 8.01<\/p>\n<\/td>\n<td>\n<p>+10.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,717.70<\/p>\n<\/td>\n<td>\n<p>-0.6%<\/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 23,680<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: -49.5%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 rose 0.9% at yesterday\u2019s close<\/strong> on turnover of EGP 896 mn (7.7% above the 90-day average). Local investors were net buyers. The index is down 23.7% YTD.<\/p><p><strong>In the green: <\/strong>Ibn Sina Pharma (+6.8%), Fawry (+6.3%) and e-Finance (+6.2%).<\/p><p><strong>In the red: <\/strong>EFG Hermes (-2.2%), Orascom Development Egypt (-1.1%) and Eastern Company (-1.0%).<\/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\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/iran\/\">Iran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548011\" 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=\"548011\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">16<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/el-sisi-signs-cooperation-agreements-in-first-serbian-trip\/\">\r\n                            El Sisi signs cooperation agreements in first Serbian trip                        <\/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\/21\/el-sisi-signs-cooperation-agreements-in-first-serbian-trip\/\" 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\/21\/el-sisi-signs-cooperation-agreements-in-first-serbian-trip\/')\">\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\/21\/el-sisi-signs-cooperation-agreements-in-first-serbian-trip\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=El Sisi signs cooperation agreements in first Serbian trip&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/el-sisi-signs-cooperation-agreements-in-first-serbian-trip\/\">\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\/21\/el-sisi-signs-cooperation-agreements-in-first-serbian-trip\/&title=El Sisi signs cooperation agreements in first Serbian trip\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=El+Sisi+signs+cooperation+agreements+in+first+Serbian+trip+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F21%2Fel-sisi-signs-cooperation-agreements-in-first-serbian-trip%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\/21\/el-sisi-signs-cooperation-agreements-in-first-serbian-trip\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548011\" class=\"content-area-description single-story post-548011 post type-post status-publish format-standard hentry category-diplomacy tag-abdel-fattah-el-sisi tag-aleksandar-vucic tag-diplomacy tag-enterpriseam tag-politics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>El Sisi concludes first Serbia visit with a raft of agreements:<\/strong> Egypt and Serbia signed MoUs on trade, support for SMEs, higher ed, agriculture, environmental protection, and arts and culture following a meeting yesterday, Ittihadiya said in <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/610483657107033\">a statement<\/a>. Serbian President Aleksandar Vu\u010di\u0107 said in a meeting with President Abdel Fattah El Sisi that Serbia was keen to work with Egypt on investment and trade, and El Sisi encouraged closer military, economic, commercial and tourism ties, it said in a separate <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid0275cztBRrpJJJC1QKGeJeChhbQyy8VBjYY5YotscVeDEZQhh7SEyzxYqTKAndRhjUl\">statement<\/a>.<\/p>\n<p><strong>We could soon see an Egyptian-Serbian trade agreement: <\/strong>The two countries are studying the possibility of concluding a bilateral trade agreement, Trade Minister Nevine Gamea <a href=\"https:\/\/www.facebook.com\/mift.media\/posts\/421829816654965\">said<\/a> during a business meeting in the Serbian capital.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/aleksandar-vucic\/\">Aleksandar Vucic<\/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\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548012\" 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=\"548012\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">17<\/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\/21\/turkey-accused-of-killing-civilians-in-iraq-artillery-strike\/\">\r\n                            Turkey accused of killing civilians in Iraq artillery strike                        <\/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\/21\/turkey-accused-of-killing-civilians-in-iraq-artillery-strike\/\" 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\/21\/turkey-accused-of-killing-civilians-in-iraq-artillery-strike\/')\">\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\/21\/turkey-accused-of-killing-civilians-in-iraq-artillery-strike\/\">\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=Turkey accused of killing civilians in Iraq artillery strike&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/turkey-accused-of-killing-civilians-in-iraq-artillery-strike\/\">\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\/21\/turkey-accused-of-killing-civilians-in-iraq-artillery-strike\/&title=Turkey accused of killing civilians in Iraq artillery strike\">\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=Turkey+accused+of+killing+civilians+in+Iraq+artillery+strike+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F21%2Fturkey-accused-of-killing-civilians-in-iraq-artillery-strike%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\/21\/turkey-accused-of-killing-civilians-in-iraq-artillery-strike\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548012\" class=\"content-area-description single-story post-548012 post type-post status-publish format-standard hentry category-around-the-world tag-around-the-world tag-corruption tag-enterpriseam tag-iraq tag-lebanon tag-sri-lanka tag-turkey wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Iraq artillery strike blamed on Turkey:<\/strong> Iraq has accused Turkey of launching an artillery strike in a Kurdistani village that killed eight civilians and wounded 23 others yesterday, <a href=\"https:\/\/www.france24.com\/en\/live-news\/20220720-eight-killed-in-northern-iraq-in-shelling-blamed-on-turkey\">AFP<\/a> reports. Ankara denied being responsible for the attack and pointed the finger at Kurdish militants. The Iraqi government is investigating the attack which Turkey <a href=\"https:\/\/www.mfa.gov.tr\/no_-231_-irak-in-dohuk-vilayeti-nde-gerceklestirilen-saldiri-hk.en.mfa\">said<\/a> it will cooperate with.<\/p>\n<p><strong>Also worth knowing this morning:<\/strong><\/p>\n<ul>\n<li><strong>Police raided the Lebanese central bank o<\/strong><strong>n Tuesday <\/strong>as part of an ongoing probe into Governor Riad Salameh\u2019s activities, who has been charged with illicit enrichment and money laundering. (<a href=\"https:\/\/apnews.com\/article\/middle-east-france-lebanon-b09cbffa5091e46c7d3cd6f0b529c53a\">Associated Press<\/a>)<\/li>\n<\/ul>\n<ul>\n<li><strong>Crisis-hit Sri Lanka votes in new president: <\/strong>Six-time former prime minister Ranil Wickremesinghe must now lead the country through its economic and political crisis, after a popular uprising ousted his predecessor. (<a href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/sri-lanka-could-tip-back-chaos-if-six-time-pm-voted-president-2022-07-20\/\">Reuters<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/around-the-world\/\">Around the World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/corruption\/\">Corruption<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/iraq\/\">Iraq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lebanon\/\">Lebanon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sri-lanka\/\">Sri Lanka<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548013\" 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=\"548013\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">18<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/my-morning-routine-maria-munoz-co-founder-maison-pyramide\/\">\r\n                            My Morning Routine: Maria Mu\u00f1oz, co-founder, Maison Pyramide                        <\/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\/21\/my-morning-routine-maria-munoz-co-founder-maison-pyramide\/\" 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\/21\/my-morning-routine-maria-munoz-co-founder-maison-pyramide\/')\">\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\/21\/my-morning-routine-maria-munoz-co-founder-maison-pyramide\/\">\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=My Morning Routine: Maria Mu\u00f1oz, co-founder, Maison Pyramide&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/my-morning-routine-maria-munoz-co-founder-maison-pyramide\/\">\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\/21\/my-morning-routine-maria-munoz-co-founder-maison-pyramide\/&title=My Morning Routine: Maria Mu\u00f1oz, co-founder, Maison Pyramide\">\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=My+Morning+Routine%3A+Maria+Mu%C3%B1oz%2C+co-founder%2C+Maison+Pyramide+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F21%2Fmy-morning-routine-maria-munoz-co-founder-maison-pyramide%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\/21\/my-morning-routine-maria-munoz-co-founder-maison-pyramide\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/230.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"548014\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/my-morning-routine-maria-munoz-co-founder-maison-pyramide\/230-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/230.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"230.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/230.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/230.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548013\" class=\"content-area-description single-story post-548013 post type-post status-publish format-standard has-post-thumbnail hentry category-my-morning-routine tag-enterpriseam tag-maison-pyramide tag-maria-munoz tag-my-morning-routine wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-08\" class=\"content-anchor\"><\/a> <strong>Maria Mu\u00f1oz, founding partner, Maison Pyramide:<\/strong> Each week, My Morning Routine looks at how a successful member of the community starts their day \u2014 and then throws in a couple of random business questions just for fun. Speaking to us this week is Maria Mu\u00f1oz (<a href=\"https:\/\/www.linkedin.com\/in\/maria-mu%C3%B1oz-63986098\/\">LinkedIn<\/a>), co-founder and partner at <a href=\"https:\/\/maisonpyramide.com\/\">Maison Pyramide<\/a>.<\/p>\n<p><strong>My name is Maria Munoz, founding partner at Maison Pyramide<\/strong>, or MP, as we call it. I focus very much on business development and ways to expand and grow our business. I have two other partners and co-founders who I\u2019m lucky to work with. We have three offices in Beirut, Dubai, and Cairo \u2014 but I\u2019m mostly active in Cairo.<\/p>\n<p><strong>The three of us together focus on how to deliver consistently good services and make sure our clients are satisfied<\/strong> and really feel the impact of what we do for them. We are constantly searching for better and more innovative practices, streamlining services, and trying to always be one step ahead to deliver real value.<\/p>\n<p><strong>A big part of the success of this goal comes from building the right systems, the right processes and most importantly, the best team<\/strong> to support and grow this system. My role as a partner includes much of this \u2014 growing the team to become the best at what they do within our field and practice.<\/p>\n<p><strong>MP was founded in 2016, when I met one of my partners in Cairo<\/strong>, and our conversation started out of us recognizing the talent and passion that we see in the MENA region, but also the lack of tools and access in the local fashion industry that could enable them to grow into businesses and compete head-to-head with global standards. We started thinking of how to address these challenges that business owners were facing to establish themselves as actual businesses.<\/p>\n<p><strong>The company has two main pillars: The showroom and the consultancy.<\/strong> Through the showroom, we represent and sell emerging talents, from <a href=\"https:\/\/monot.co\/\">Monot<\/a> to <a href=\"https:\/\/lamajouni.com\/\">Lama Jouni<\/a> to <a href=\"https:\/\/www.lateliernawbar.com\/\">L\u2019atelier Nawbar<\/a>. We have a roster of very interesting regional and international talent, and we sell them to the biggest global retailers like <a href=\"https:\/\/www.net-a-porter.com\/\">Net-a-Porter<\/a>, <a href=\"https:\/\/www.selfridges.com\/\">Selfridges<\/a> and <a href=\"https:\/\/www.harveynichols.com\/\">Harvey Nichols<\/a>. The second pillar is the consultancy, through which we create innovative communications strategies and full on creative concepts for both emerging and established clients. We \u2014 the three partners \u2014 are always involved in all operations, but I\u2019m much more involved with the consultancy.<\/p>\n<p><strong>I really respect my morning routine <\/strong>and I try to stick to it as much as I can. I\u2019ve always been an early bird; I like waking up before anybody else, especially now with two kids. The early morning is the space in which I find the most peace and clarity of mind. I usually wake up between 5-6am, except for the days when I\u2019m alone with the kids when it\u2019s a bit more challenging.<\/p>\n<p><strong>I always find time to read in the morning. <\/strong>I read three to four books at the same time on very different topics, so I\u2019m either reading a book on psychology or self-growth or a novel. I try to dedicate time to learning, and I always pray for a while. Then I try to move \u2014 not hardcore exercises of course because they don\u2019t really work for me in the early morning \u2014 but I try to move a bit before the craziness of the day starts.<\/p>\n<p><strong>I usually take some time to get dressed and ready for the day, because looking good makes me feel good<\/strong>, so I always find time to get dressed properly and put some makeup on. Then I take my kids to school, and either go to the office or to a cafe to work from. When I feel like I\u2019ve given everything I have for the day to work, I stop and try to unwind, usually around 3pm.<\/p>\n<p><strong>I\u2019m a firm believer that working 9-5, five days a week is not necessarily the right thing for everybody. <\/strong>I find that I'm producing much better when I change locations, and as much as I feel that the office environment is necessary, I also feel it\u2019s important to understand where and how you produce the most.<\/p>\n<p><strong>I like to create lists everyday where I prioritize my tasks<\/strong>, and I always start my day with the highest priority items, no matter how difficult they are. I like to write them down by hand \u2014 each list I have, whether on a professional level, or a personal or familial one is handwritten and I flag anything that gets carried over to the next day with a red flag. I\u2019m not a very organized person, so I really need these tools to make sure I have the time for myself to be a person and not just a work machine.<\/p>\n<p><strong>One constant in my day is spending time with my kids.<\/strong> We work a lot, and we don\u2019t really take holidays, but I feel like work is a part of my life; I can\u2019t separate it. I\u2019ve reached a level of work-life balance that I\u2019m satisfied with, and I\u2019m aware that this balance is not sustainable 100% of the time. But most of the time, I make sure to make time for myself, for my kids, and for traveling to see my family back in Spain.<\/p>\n<p><strong>When I finish my workday, I start my mom workday [laughs],<\/strong> so it\u2019s not really a time for relaxing. But I do like to play sports later in the day, and I find moments of relaxation in that.<\/p>\n<p><strong>Our business is at a very interesting moment of growth and expansion, so I see myself doing this for a while. <\/strong>On a personal level, I would love to continue to build on my knowledge and give back to the community much more.<\/p>\n<p><strong>One novel that I read recently and really liked is <\/strong><strong><a href=\"https:\/\/www.amazon.com\/Family-Upstairs-Novel-Lisa-Jewell\/dp\/1501190105\">The Family Upstairs<\/a><\/strong><strong> by Lisa Jewell. <\/strong>It\u2019s a very interesting thriller that is impossible to put down, especially if you\u2019re into mystery. <a href=\"https:\/\/www.amazon.com\/AM-Club-Morning-Elevate-Life\/dp\/1443456624\">The 5AM Club<\/a> is another one that really touched me; I think it offers a lot of wisdom and personal tools, and is also written in a way that makes it very relatable to all kinds of people. I also love <a href=\"https:\/\/www.amazon.com\/How-Talk-Kids-Will-Listen\/dp\/1451663889\">How to Talk So Kids Will Listen & Listen So Kids Will Talk<\/a>; it gives you a lot of tools as a parent, and shows you how to put yourself in your kids\u2019 shoes.<\/p>\n<p><strong>The best advice I\u2019ve gotten was from my grandfather.<\/strong> He always told me, \u201cdon\u2019t let anything take away your inner peace.\u201d To me, this is very valid on many levels across my life, whether personally or professionally, so this is something that really resonates with me.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/maison-pyramide\/\">Maison Pyramide<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/maria-munoz\/\">Maria Mu\u00f1oz<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548015\" 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\/21\/548015\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548015\" class=\"content-area-description single-story post-548015 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>21 July (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>21 July (Thursday): The government hosts public consultations on its state ownership policy document with medical device manufacturers.<\/p>\n<p>21 July (Thursday): Launch event for IDG and Art d\u2019Egypte\u2019s Locale cultural festival, e2 Alamein park, Egypt.<\/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>23 July (Saturday): 23 July Revolution national holiday.<\/p>\n<p>24 July (Sunday): The government hosts public consultations on its state ownership policy document with healthcare players.<\/p>\n<p>26 July (Tuesday): The government hosts public consultations on its state ownership policy document with pharma players.<\/p>\n<p>26-27 July (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>28 July (Thursday): The government hosts public consultations on its state ownership policy document with experts and think tanks.<\/p>\n<p>29 July (Friday): Aleph Commodities shareholder meeting to vote on potential merger with Tenaz Energy Corp.<\/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>14 August (Sunday): Conference of Egyptian entities abroad.<\/p>\n<p>16 August (Tuesday): MNHD\u2019s general assembly meeting to decide whether to allow SODIC to go ahead with due diligence on its takeover bid.<\/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>September: Government to launch an <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0QKmVCxurac4PGgrxGiVR7LN5BgQi5aCPpHahEzKda36Q1obcfw1w2P3M7eVm4Tujl\">international promotional campaign<\/a> for Egyptian tourism.<\/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\u201327 September (Monday-Tuesday): The <a href=\"https:\/\/www.awieforum.org\/\">Africa Women Innovation and Entrepreneurship Forum (AWIEF)<\/a> at the Cairo Marriott Hotel.<\/p>\n<p><strong>OCTOBER<\/strong><\/p>\n<p>October: 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><strong>DECEMBER<\/strong><\/p>\n<p>13-14 December (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>13-15 December (Tuesday-Thursday): US-Africa Leaders Summit.<\/p>\n<p>15 December (Thursday): European Central Bank monetary policy meeting.<\/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\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":547984,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-547983","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"fcc35d77-578a-486a-9471-c79e22e094fd","teaser":"","photo_url":"https:\/\/ent.news\/2022\/7\/23.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>Welcome to the end of an M&amp;A heavy week - 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\/welcome-to-the-end-of-an-ma-heavy-week\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Welcome to the end of an M&amp;A heavy week\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/welcome-to-the-end-of-an-ma-heavy-week\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T22:03:25+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\/23.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\/welcome-to-the-end-of-an-ma-heavy-week\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/welcome-to-the-end-of-an-ma-heavy-week\/\",\"name\":\"Welcome to the end of an M&A heavy week - 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