{"id":548125,"date":"2022-07-27T04:00:55","date_gmt":"2022-07-27T04:00:55","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=548125"},"modified":"2025-12-15T22:06:40","modified_gmt":"2025-12-15T22:06:40","slug":"imf-calls-for-egypt-to-make-decisive-reforms-as-loan-talks-continue","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/imf-calls-for-egypt-to-make-decisive-reforms-as-loan-talks-continue\/","title":{"rendered":"IMF calls for Egypt to make \u201cdecisive\u201d reforms as loan talks continue"},"content":{"rendered":"<section id=\"548127\" 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=\"548127\">\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\/27\/this-morning-its-fed-day-theres-progress-on-resuming-ukraine-wheat-exports\/\">\r\n                            THIS MORNING: It\u2019s Fed day + There\u2019s progress on resuming Ukraine wheat exports                        <\/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\/27\/this-morning-its-fed-day-theres-progress-on-resuming-ukraine-wheat-exports\/\" 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\/27\/this-morning-its-fed-day-theres-progress-on-resuming-ukraine-wheat-exports\/')\">\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\/27\/this-morning-its-fed-day-theres-progress-on-resuming-ukraine-wheat-exports\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=THIS MORNING: It\u2019s Fed day + There\u2019s progress on resuming Ukraine wheat exports&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/this-morning-its-fed-day-theres-progress-on-resuming-ukraine-wheat-exports\/\">\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\/27\/this-morning-its-fed-day-theres-progress-on-resuming-ukraine-wheat-exports\/&title=THIS MORNING: It\u2019s Fed day + There\u2019s progress on resuming Ukraine wheat exports\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=THIS+MORNING%3A+It%E2%80%99s+Fed+day+%2B+There%E2%80%99s+progress+on+resuming+Ukraine+wheat+exports+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F27%2Fthis-morning-its-fed-day-theres-progress-on-resuming-ukraine-wheat-exports%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\/27\/this-morning-its-fed-day-theres-progress-on-resuming-ukraine-wheat-exports\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548127\" class=\"content-area-description single-story post-548127 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-commodities tag-egx tag-enterpriseam tag-financial-regulatory-authority tag-interest-rates tag-russia tag-turkey tag-ukraine tag-what-were-tracking-today tag-wheat wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Good morning, friends. We have a packed issue for you this morning as the tl;dr above suggests \u2014 and expect a very busy news day<\/strong> \u2014 so we\u2019re going to dispense with the pleasantries and jump straight in:<\/p>\n<p><strong>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p>\n<p><strong>It\u2019s Fed day:<\/strong> The Federal Reserve is expected to announce its second consecutive 75-bps interest rate hike when it concludes its two-day policy meeting later today. Better-than-expected tech earnings lifted spirits in US markets in after-hours trading yesterday, reversing a nervy day of trading as investors contemplated how hard the Fed will go to curb rampant inflation. The S&P 500 ended 1.2% in the red, while the tech-heavy Nasdaq was harder hit, losing 1.9%. Treasury yields were flat ahead of the decision.<\/p>\n<p><strong>How high will the Fed go? That depends on what happens with inflation<\/strong>, and there\u2019s little consensus on Wall Street about how this will play out. Analysts at JPMorgan think that inflation has now reached its peak, allowing policymakers at the Fed to start to dial back the tightening cycle. Goldman Sachs, on the other hand, doesn\u2019t see inflation going away anytime soon and is girding for an extended period of rising interest rates. Morgan Stanley\u2019s chief equity strategist agrees, saying that \u201csticky\u201d inflation will force the central bank to continue raising interest rates despite rising recession fears. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-07-26\/goldman-strategists-see-inflation-keeping-fed-hawkish-for-longer#xj4y7vzkg?sref=mmeFTDW1\">Bloomberg<\/a> has more.<\/p>\n<p><strong>THE BIG STORY ABROAD- Two stories dominate in the global business press this morning:<\/strong><\/p>\n<p><strong>#1- US tech earnings have started to roll in<\/strong>, with Microsoft and Google parent Alphabet both reporting their 2Q 2022 results yesterday. The takeaway: <strong>Not as bad as many had feared. <\/strong>We have more on this in this morning\u2019s Planet Finance, below. (<a href=\"https:\/\/www.ft.com\/content\/424162c9-c4f6-4cb4-a828-1b93b0692326\">FT<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-07-26\/microsoft-posts-slowest-sales-growth-since-2020-on-strong-dollar?srnd=premium&sref=mmeFTDW1\">Bloomberg<\/a> | <a href=\"https:\/\/www.cnbc.com\/2022\/07\/26\/alphabet-is-set-to-report-q2-earnings-after-the-bell-.html\">CNBC<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/microsoft-msft-q4-earnings-report-2022-11658786211\">Wall Street Journal<\/a> <a href=\"https:\/\/www.nytimes.com\/2022\/07\/26\/business\/alphabet-google-earnings.html\">New York Times<\/a> | <a href=\"https:\/\/www.theguardian.com\/technology\/2022\/jul\/26\/google-alphabet-second-quarter-earnings\">The Guardian<\/a>.<\/p>\n<p><strong>#2- Changing of the guard at Credit Suisse:<\/strong> Thomas Gottstein is set to leave as CEO of the embattled Swiss bank as it looks to bounce back from its involvement in a series of scandals including the<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/31075772-f30b-4304-948c-a2e478d26365\">implosion of hedge fund Archegos Capital<\/a> last year and allegations that it <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8ebb74e3-e6ad-4263-8985-7b4c6b2bd344\">helped launder drug money<\/a>. The bank is expected to name Ulrich Koerner, who is currently running the bank\u2019s asset-management division, as its new head along with its quarterly earnings release, out later today. (<a href=\"https:\/\/www.ft.com\/content\/5feb1e73-6b77-48a9-9d8f-abc044a2fe3b\">FT<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-07-26\/credit-suisse-plans-to-announce-exit-of-ceo-gottstein-wsj-says?srnd=premium&sref=mmeFTDW1\">Bloomberg<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/credit-suisse-ceo-thomas-gottstein-set-to-depart-11658858441\">Wall Street Journal<\/a> | <a href=\"https:\/\/www.reuters.com\/business\/finance\/credit-suisse-ceo-thomas-gottstein-set-depart-wsj-2022-07-26\/\">Reuters<\/a>)<\/p>\n<p><strong>GOOD NEWS for the UN-brokered wheat pact?<\/strong> The Joint Coordination Center (JCC) in Istanbul \u2014 established to monitor the shipments of wheat from Ukrainian ports as part of a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f1933af3-aebe-45a8-88cc-f95f09cc11fd\">landmark pact<\/a> between the UN, Turkey, Ukraine and Russia to resume grain exports through the Black Sea \u2014 has begun operations, Russia\u2019s Defense Ministry confirmed in a <a href=\"https:\/\/t.me\/mod_russia\/17945\">post<\/a> on Telegram. This comes a couple of days after Russia <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1ad8195d-4b65-4872-ac53-b38a9dd000aa\">fired missiles<\/a> at Ukraine\u2019s port city of Odessa, casting doubt on whether or not the agreement will succeed at unblocking 20 mn tons of grain stuck in Ukrainian ports.<\/p>\n<p><strong>Russia (seems to be?) cooperating: <\/strong>The Russian delegation to the JCC was set to arrive in Turkey yesterday to begin work, which includes ensuring the \u201cprompt resolution of all necessary issues for the initiative to enter the stage of practical implementation,\u201d according to the defense ministry\u2019s statement.<\/p>\n<p><strong>MEANWHILE- S<\/strong><strong>tate-owned energy company Naftogaz has become the first Ukrainian <\/strong><strong>company to default on bond payments.<\/strong> The news comes after bondholders refused a two-year debt freeze, the <a href=\"https:\/\/www.naftogaz.com\/news\/regarding-the-situation-with-eurobonds\">company said<\/a>. Creditors could move to seize the company\u2019s overseas assets \u2014 which include concessions in <a href=\"https:\/\/www.google.com\/url?q=https:\/\/www.naftogaz.com\/en\/news\/naftogaz-prodovzhue-rozvyvaty-aktyvy-v-egypti-zatverdzheno-programu-na-rik&sa=D&source=docs&ust=1658886469854973&usg=AOvVaw0LeFAACe6HkLpy-jdg_bjX\">Egypt\u2019s Western Desert<\/a> \u2014 and Switzerland. <a href=\"https:\/\/www.reuters.com\/markets\/europe\/naftogaz-bondholders-reject-debt-freeze-kyiv-rejects-payment-plea-2022-07-25\/\">Reuters<\/a> says the default would also threaten the country\u2019s winter gas supplies and a crucial EUR 300 mn loan from the EBRD.<\/p>\n<p><strong>FURTHER AFIELD- EU, US, and Canada approve monkeypox vaccine by Danish company: <\/strong>Biotechnology company Bavarian Nordic got the official green light from the European Commission for its Imvanex vaccine against monkeypox, following similar clearances in Canada and the US, the company said in <a href=\"https:\/\/t.co\/I0nWNb4kIL\">a disclosure<\/a>. The approval comes just one day after the World Health Organization declared the monkeypox outbreak as a global health emergency.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>The FRA will hold public hearings on its <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f372516a-54a6-437b-921f-c9d8684fffd1\">2022-2026 strategy<\/a><\/strong><strong> next Sunday, 31 July<\/strong>, the authority said in a <a href=\"https:\/\/ent.news\/2022\/7\/%D8%A7%D8%B3%D8%AA%D8%B1%D8%A7%D8%AA%D9%8A%D8%AC%D9%8A%D8%A9-%D8%B3%D9%88%D9%82-%D8%B1%D8%A3%D8%B3-%D8%A7%D9%84%D9%85%D8%A7%D9%84.pdf\">press release (pdf)<\/a>. The dialogue will include representatives from the FRA\u2019s capital markets advisory committee, the EGX, Misr for Central Clearing, Depository and Registry, the Investor Protection Fund, the Egyptian Capital Market Association, and the Fixed Income Association in Egypt. The strategy, which the authority released late May, aims to double the EGX\u2019s market cap to EGP 1.6 tn by 2026.<\/p>\n<p><strong>PSA-<\/strong> <strong>Your deadline to catch a 65% break off late payment fines for your taxes is coming <\/strong><strong>up on 31 August<\/strong>, the Finance Ministry made sure to remind us in a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid027uTa2q7xAFY9UBuTBiDFed4xZLuUWo2fvJsD33JRV7MSf3khj2L337RpAXjdhEj8l\">statement<\/a> today. The waiver applies to late payment fees for customs tariffs, income, real estate, and sales taxes, VAT, and stamp duties among others. The remaining 35% of your due payments will need to be paid before next March, the statement noted. This comes after the House of Representatives <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/406cc89b-dd7c-47f7-ae46-d22bf639cdb0\">approved amendments<\/a> to help reduce late payment fees before it ended its legislative cycle earlier this month.<\/p>\n<p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n<p class='web-image'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/Web-view-01.jpg?ssl=1\" alt='enterprise'><\/p>\n<p><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education.<\/p>\n<p><strong>In today\u2019s issue: <\/strong><strong>Egypt\u2019s infrastructure isn\u2019t where it needs to be for e-commerce players to run the show in an orderly fashion:<\/strong> E-commerce players are having a hard time accessing the infrastructure needed to run their businesses seeing that the demand for e-commerce-suitable infrastructure outweighs what the country has to offer, industry players tell us. E-commerce businesses typically require physical infrastructure such as warehouses and distribution facilities, tech infrastructure for their platforms to be online, and delivery services to get their products into their customers\u2019 hands. All three areas raise different problems for businesses, with smaller players often having a harder time than others, our sources suggest.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/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\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ukraine\/\">Ukraine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548128\" 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=\"548128\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/548128\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548128\" class=\"content-area-description single-story post-548128 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=\"548129\" 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=\"548129\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/the-imf-just-sent-us-a-message\/\">\r\n                            The IMF just sent us a message                        <\/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\/27\/the-imf-just-sent-us-a-message\/\" 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\/27\/the-imf-just-sent-us-a-message\/')\">\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\/27\/the-imf-just-sent-us-a-message\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The IMF just sent us a message&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/the-imf-just-sent-us-a-message\/\">\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\/27\/the-imf-just-sent-us-a-message\/&title=The IMF just sent us a message\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+IMF+just+sent+us+a+message+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F27%2Fthe-imf-just-sent-us-a-message%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\/27\/the-imf-just-sent-us-a-message\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/279.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"548130\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/the-imf-just-sent-us-a-message\/279-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/279.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"279.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/279.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/279.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548129\" class=\"content-area-description single-story post-548129 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-egp tag-enterpriseam tag-imf tag-state-privatization-program wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-01\" class=\"content-anchor\"><\/a> <strong>IMF wants Egypt to move faster, more decisively on reforms:<\/strong> The IMF yesterday called on the Egyptian government to take \u201cdecisive\u201d steps on fiscal and structural reforms, a message that comes as we are locked in talks on a new assistance package from the fund to help us through the current economic crisis. Egypt remains vulnerable to external shocks due to its high debt load and large gross financing requirements and requires deeper reforms, the IMF said in a newly released <a href=\"https:\/\/www.imf.org\/-\/media\/Files\/Publications\/CR\/2022\/English\/1EGYEA2022002.ashx\">assessment (pdf)<\/a> of the country\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e4b88b68-45c9-4f66-bbba-1e8999ee8f3f\">USD 5.2 bn standby loan program<\/a> agreed in 2020. \u201cDecisive progress on deeper structural reforms is needed to boost the economy\u2019s competitiveness, improve governance, and strengthen its resilience against shocks,\u201d the executive board said.<\/p>\n<p><strong>Egypt has been in talks with the IMF for fresh financing (and potentially other help) <\/strong><strong>since March: <\/strong>A confluence of factors \u2014 including the broad economic fallout from Russia\u2019s war in Ukraine and rising interest rates in the US \u2014 has added bns of USD to Egypt\u2019s import bill and triggered <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/158188ff-65a9-4146-adc1-5f53c1a3f6e5\">USD 20 bn of capital outflows<\/a>, putting pressure on our balance of payments and prompting us to return to the Fund for what would be its third loan program in six years.<\/p>\n<p><strong>We\u2019ve been given a B on our standby program report card:<\/strong> The board said the program succeeded in achieving its main goal of maintaining macroeconomic stability through the economic crisis caused by the covid-19 pandemic. The government met the agreed conditions and was able to strengthen domestic and external confidence. However, the Fund said that \u201c<strong>greater exchange rate variability \u2026 could have been entrenched to avoid a buildup of external imbalances<\/strong>.\u201d<\/p>\n<p><strong>We\u2019ve seen a more flexible EGP this year:<\/strong> The central bank has allowed the currency to ease more than 20% against the greenback in response to the war in Ukraine.<\/p>\n<p><strong>The Fund also wants less state, more private sector:<\/strong> The IMF\u2019s assessment called on the government to take meaningful steps to reduce the state\u2019s involvement in the economy and boost private sector development.<\/p>\n<p><strong>The government has been vocal about its commitment to privatization in recent <\/strong><strong>months<\/strong> and is currently consulting with members of the business community on <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0894c99e-e18e-473e-a869-64812c50988b\">its plans<\/a> to dramatically shift the balance of economic power towards private businesses in the coming years. Prime Minister Moustafa Madbouly has said the government wants to double the private sector\u2019s role in the economy over the next three years, while President Abdel Fattah El Sisi has set a target of raising USD 40 bn by selling off state assets to local and international investors over the coming four years. <strong>The challenge: Global market conditions mean that the primary buyers of Egyptian assets will be the UAE and Saudi Arabia<\/strong> \u2014 and price pressure works in the buyers\u2019 favour right now.<\/p>\n<p><strong>So where, exactly, is the gap? <\/strong>An economic advisor to Prime Minister Moustafa Madbouly <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e4723f8a-efab-486f-a00e-188bd6dff8b8\">said this week<\/a> that the two sides continue to have \u201cdifferent perspectives\u201d on certain issues, but stopped far short of getting into detail.<\/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\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egp\/\">EGP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-privatization-program\/\">state privatization program<\/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=\"548131\" 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=\"548131\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/imf-is-gloomy-and-uncertain-on-global-economy\/\">\r\n                            IMF is \u201cgloomy and uncertain\u201d on global economy                        <\/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\/27\/imf-is-gloomy-and-uncertain-on-global-economy\/\" 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\/27\/imf-is-gloomy-and-uncertain-on-global-economy\/')\">\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\/27\/imf-is-gloomy-and-uncertain-on-global-economy\/\">\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=IMF is \u201cgloomy and uncertain\u201d on global economy&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/imf-is-gloomy-and-uncertain-on-global-economy\/\">\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\/27\/imf-is-gloomy-and-uncertain-on-global-economy\/&title=IMF is \u201cgloomy and uncertain\u201d on global economy\">\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=IMF+is+%E2%80%9Cgloomy+and+uncertain%E2%80%9D+on+global+economy+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F27%2Fimf-is-gloomy-and-uncertain-on-global-economy%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\/27\/imf-is-gloomy-and-uncertain-on-global-economy\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/281.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"548132\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/imf-is-gloomy-and-uncertain-on-global-economy\/281-jpg-43\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/281.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"281.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/281.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/281.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548131\" class=\"content-area-description single-story post-548131 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-emerging-markets tag-enterpriseam tag-gdp tag-imf tag-inflation 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>The IMF has revised downwards its global growth outlook for this year <\/strong><strong>and next<\/strong>, warning that gathering headwinds are pushing the world closer to recession. In its updated <a href=\"https:\/\/ent.news\/2022\/7\/text-en-1.pdf\">World Economic Outlook (pdf)<\/a> released yesterday, the Fund cut its 2022 forecast by 0.4 percentage points and now sees the global growth weakening to 3.2% from 6.1% last year, as the spillover effects from the war in Ukraine, rising interest rates and continued disruptions caused by the pandemic heap pressure on economic activity around the world.<\/p>\n<p><strong>It\u2019ll get worse next year:<\/strong> The IMF expects global growth to weaken further in 2023 as tightening financial conditions start to bite. It is now forecasting 2.9% growth against the 3.6% it had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/773b32f1-c37f-45ca-8845-65d05411a210\">predicted in April<\/a>.<\/p>\n<p><strong>The report is titled \u201cGloomy and More Uncertain\u201d for a reason:<\/strong> \u201cThe outlook has darkened significantly since April,\u201d IMF Chief Economist Pierre-Olivier Gourinchas <a href=\"https:\/\/blogs.imf.org\/2022\/07\/26\/global-economic-growth-slows-amid-gloomy-and-more-uncertain-outlook\/#\">wrote<\/a> yesterday. \u201cThe world may soon be teetering on the edge of a global recession, only two years after the last one.\u201d<\/p>\n<p><strong>There are \u201coverwhelming\u201d downside risks to the outlook:<\/strong> Europe being entirely cut off from Russian gas supplies, a 30% drop in Russian oil exports, persistently high inflation, and tighter monetary policy could come together to push the eurozone to near-zero growth and escalate debt crises in emerging markets. Under this \u201cplausible\u201d alternative scenario, the IMF expects growth to fall even further to 2.6% this year and 2.0% in 2023.<\/p>\n<p><strong>No end to inflation in sight: <\/strong>The Fund has revised upwards its forecast for inflation to 6.6% (up 0.9 percentage points from April figures) this year in advanced economies, and 9.5% (up 0.8 percentage points) in EMs and developing economies on the back of rising food and energy prices.<\/p>\n<p><strong>IMF wants policymakers to prioritize inflation above all else: <\/strong>\u201cInflation at current levels represents a clear risk for current and future macroeconomic stability and bringing it back to central bank targets should be the top priority for policymakers,\u201d Gourinchas said. Tighter monetary conditions will hit the global economy but delaying it \u201cwill only exacerbate the hardships,\u201d he said.<\/p>\n<p><strong>THE EGYPT \/ REGIONAL OUTLOOK-<\/strong><\/p>\n<p><strong>The Egyptian economy isn\u2019t looking too bad:<\/strong> The IMF left Egypt\u2019s FY 2022-2023 growth forecast unchanged at 5.9% but cut our 2023 outlook to 4.8%. The IMF has twice upgraded its outlook for the Egyptian economy this year, despite surging commodity prices and rising interest rates knocking business confidence and squeezing public finances.<\/p>\n<p><strong>\u201cEgypt has been hit by the impacts of the war in Ukraine,\u201d <\/strong>particularly due to our reliance on Russia and Ukraine for about 80% of its grain imports and for a substantial portion of our tourism revenues, Jihad Azour, the multilateral lender\u2019s head of Middle East and Central Asia, told CNBC Arabia (<a href=\"https:\/\/www.cnbcarabia.com\/program\/17\/episode\/10379\/\">watch, runtime: 14:12<\/a>). This has reflected on food prices, tourism revenues, and portfolio flows, he added.<\/p>\n<p><strong>Countries in the MENA, Central Asia and sub-Saharan Africa regions bucked the trend: <\/strong>The outlook for countries in these regions remains \u201con average unchanged or positive,\u201d the IMF said, as the effects of rising fossil fuel and metal prices for major commodity exporters in the regions buoy the overall forecast.<\/p>\n<p><strong>Emerging markets will still see growth next year, but risks remain:<\/strong> The Fund now expects growth in EM to come in at 3.6% this year, before rising slightly to 3.9% next year \u2014 down 0.2 and 0.5 percentage points respectively from April\u2019s forecast. The negative revisions came mainly on the back of the slowdown in growth in major emerging markets China and India over the past quarter.<\/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\/economy\/\">economy<\/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\/gdp\/\">GDP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/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=\"548133\" 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=\"548133\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/infinity-afc-eye-usd-4-bn-to-double-lekelas-capacity\/\">\r\n                            Infinity, AFC eye USD 4 bn to double Lekela\u2019s capacity                        <\/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\/27\/infinity-afc-eye-usd-4-bn-to-double-lekelas-capacity\/\" 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\/27\/infinity-afc-eye-usd-4-bn-to-double-lekelas-capacity\/')\">\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\/27\/infinity-afc-eye-usd-4-bn-to-double-lekelas-capacity\/\">\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=Infinity, AFC eye USD 4 bn to double Lekela\u2019s capacity&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/infinity-afc-eye-usd-4-bn-to-double-lekelas-capacity\/\">\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\/27\/infinity-afc-eye-usd-4-bn-to-double-lekelas-capacity\/&title=Infinity, AFC eye USD 4 bn to double Lekela\u2019s capacity\">\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=Infinity%2C+AFC+eye+USD+4+bn+to+double+Lekela%E2%80%99s+capacity+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F27%2Finfinity-afc-eye-usd-4-bn-to-double-lekelas-capacity%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\/27\/infinity-afc-eye-usd-4-bn-to-double-lekelas-capacity\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/282.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"548134\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/infinity-afc-eye-usd-4-bn-to-double-lekelas-capacity\/282-jpg-27\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/282.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"282.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/282.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/282.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548133\" class=\"content-area-description single-story post-548133 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-africa-finance-corporation tag-enterpriseam tag-infinity tag-investment-watch tag-lekela-power tag-ma-watch tag-renewables wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Infinity + AFC plan USD 4 bn investment to double Lekela\u2019s capacity: <\/strong>Our friends at renewables player Infinity Group and Africa Finance Corporation (AFC) want to raise USD 2.5-4 bn over the next four years to double the capacity of the newly-acquired Lekela Power, AFC CEO Samaila Zubairu told <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-07-26\/africa-s-top-renewable-firm-may-raise-4-billion-after-takeover#xj4y7vzkg\">Bloomberg<\/a> in an interview. The buyers are looking to ensure Lekela keeps its position as the \u201clargest renewable pure play in Africa.\u201d<\/p>\n<p><strong>This comes a week after Infinity and AFC <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c636f569-fcd3-4997-87a2-f5c20bc5691a\">agreed to acquire 100% of Lekela<\/a><\/strong> from private equity firm Actis and Irish wind \/ solar developer Mainstream Renewable Power. The transaction reportedly valued Lekela at USD 1.5 bn and will hand Infinity and AFC a 2.8 GW portfolio of wind projects across Africa, making Infinity the largest renewables company on the continent. The acquisition is expected to close in 4Q.<\/p>\n<p><strong>Enter the DFIs:<\/strong> Development finance institutions that AFC has worked with will likely provide the bulk of the finance, Zubairu told the business newswire. These include French lender Proparco, Germany\u2019s KfW and the US International Development Finance Corporation, he said.<\/p>\n<p><strong>Infinity + AFC want to bring most of Lekela\u2019s pipeline online by 2026:<\/strong> The funding will make it possible for Lekela to bring online 50-75% of its 3 GW pipeline over the next four years.<\/p>\n<p><strong>This would at least double current capacity:<\/strong> Lekela currently has 1 GW of operating assets while Infinity and AFC own facilities generating 400 MW. Lekela has >1 GW of installed capacity at projects located in Egypt, South Africa and Senegal. It has another 1.8 GW of projects in the pipeline that are expected to close in the near future. The company started generating at its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c5c730b4-4705-43f2-bfea-72fc0ba4e2db\">250-MW wind farm<\/a> in West Bakr last November.<\/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\/africa-finance-corporation\/\">Africa Finance Corporation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infinity\/\">Infinity<\/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\/lekela-power\/\">Lekela Power<\/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\/renewables\/\">renewables<\/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=\"548135\" 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=\"548135\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/chimera-will-get-at-least-56-of-beltone-after-ofh-accepts-offer\/\">\r\n                            Chimera will get at least 56% of Beltone after OFH accepts offer                        <\/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\/27\/chimera-will-get-at-least-56-of-beltone-after-ofh-accepts-offer\/\" 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\/27\/chimera-will-get-at-least-56-of-beltone-after-ofh-accepts-offer\/')\">\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\/27\/chimera-will-get-at-least-56-of-beltone-after-ofh-accepts-offer\/\">\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=Chimera will get at least 56% of Beltone after OFH accepts offer&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/chimera-will-get-at-least-56-of-beltone-after-ofh-accepts-offer\/\">\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\/27\/chimera-will-get-at-least-56-of-beltone-after-ofh-accepts-offer\/&title=Chimera will get at least 56% of Beltone after OFH accepts offer\">\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=Chimera+will+get+at+least+56%25+of+Beltone+after+OFH+accepts+offer+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F27%2Fchimera-will-get-at-least-56-of-beltone-after-ofh-accepts-offer%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\/27\/chimera-will-get-at-least-56-of-beltone-after-ofh-accepts-offer\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/284.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"548136\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/chimera-will-get-at-least-56-of-beltone-after-ofh-accepts-offer\/284-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/284.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"284.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/284.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/284.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548135\" class=\"content-area-description single-story post-548135 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-chimera-investments tag-enterpriseam tag-financial-services tag-ma-watch tag-orascom-financial-holding wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Orascom Financial sells Beltone stake to Chimera:<\/strong> Chimera Investments will acquire at least 56% of Beltone Financial after Orascom Financial Holding (OFH) decided on Monday to sell its entire stake in the financial services firm, according to a <a href=\"https:\/\/ent.news\/2022\/7\/OFH-Beltone-Chimera.pdf\">disclosure to the EGX (pdf)<\/a> from OFH yesterday. The Abu Dhabi-based investment company is bidding to acquire up to 90% of Beltone and needed shareholders to sell 51% of the company\u2019s shares through the ongoing mandatory tender offer (MTO) for the transaction to go through. Shareholders have until 3 August to respond to Chimera\u2019s offer.<\/p>\n<p><strong>The offer:<\/strong> Chimera has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/87891e6c-e1e4-43e2-b979-03cc61acde2a\">offered to pay EGP 1.485 per share<\/a> for up to 90% of Beltone, valuing it at around EGP 690 mn.<\/p>\n<p><strong>The remaining 45% of the company\u2019s shares are publicly-traded.<\/strong> The EGX will announce the result of the MTO when it expires next week.<\/p>\n<p><strong>Market reax:<\/strong> Beltone\u2019s shares fell 1.8% on the EGX following the announcement yesterday while OFH gained 1.6%.<\/p>\n<p><strong>Advisors: <\/strong>Matouk Bassiouny & Hennawy is providing counsel to Chimera Investments.<\/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\/financial-services\/\">financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-financial-holding\/\">Orascom Financial Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548137\" 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=\"548137\">\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\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/aman-pushes-ipo-to-2023\/\">\r\n                            Aman pushes IPO to 2023                        <\/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\/27\/aman-pushes-ipo-to-2023\/\" 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\/27\/aman-pushes-ipo-to-2023\/')\">\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\/27\/aman-pushes-ipo-to-2023\/\">\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=Aman pushes IPO to 2023&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/aman-pushes-ipo-to-2023\/\">\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\/27\/aman-pushes-ipo-to-2023\/&title=Aman pushes IPO to 2023\">\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=Aman+pushes+IPO+to+2023+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F27%2Faman-pushes-ipo-to-2023%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\/27\/aman-pushes-ipo-to-2023\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/285.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"548138\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/aman-pushes-ipo-to-2023\/285-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/285.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"285.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/285.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/285.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548137\" class=\"content-area-description single-story post-548137 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-aman-financial-services tag-egx tag-enterpriseam tag-ipo-watch tag-non-banking-financial-services tag-raya-holding wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Aman pushes EGX debut to next year:<\/strong> Raya Holding\u2019s non-banking financial services outfit, Aman Holding, has reportedly become the latest Egyptian company to delay plans to IPO on the EGX as global economic headwinds batter financial markets. The company was planning to go public this year and had already appointed an investment bank, but will not go to market before next year, <a href=\"https:\/\/www.almasdar.com\/118691\">Al Masdar<\/a> quotes Aman Financial Services CEO Hazem Moghazi as having said.<\/p>\n<p><strong>This comes a week after <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/004a2209-c482-4067-af0e-5ba87566e2d4\">the local press reported<\/a><\/strong><strong> that Banque du Caire had decided to push its IPO plans<\/strong> until the market stabilizes. The state-owned bank was also planning to debut on the EGX this year.<\/p>\n<p><strong>The EGX has suffered so far this year:<\/strong> Rampant inflation at home and abroad, rising interest rates in the US and now Europe, and significant macro fallout from Russia\u2019s war in Ukraine have together helped drive the EGX into a bear market this year. Foreign investors have retreated from the market amid a broad risk-off sentiment in emerging markets, leaving the benchmark EGX 30 index at lows not seen <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ecae4630-3a1a-4c33-86bd-a4a28695feb6\">since November 2016<\/a>. <strong>The benchmark EGX 30 is down nearly 22% for the year<\/strong> so far.<\/p>\n<p><strong>Aman\u2019s IPO has been a long time coming: <\/strong>Raya <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a2250b60-5a0f-4010-a47d-a58f63640dce\">initially announced<\/a> plans to list Aman in 2020, with hopes for the subsidiary to make its debut in 2021.<\/p>\n<p><strong>Also from Aman:<\/strong><\/p>\n<ul>\n<li><strong>Aman could soon welcome new shareholders: <\/strong>Raya is looking to sell 10-15% of its 76% stake in Aman before the end of the year to fund its expansion plans at home and abroad, Moghazi said. The National Bank of Egypt owns the remaining 24% of the company, after <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b0471f41-7075-4dd6-8a0a-5f768910dca7\">acquiring the stake<\/a> in 2020.<\/li>\n<li><strong>Saudi expansion on the horizon: <\/strong>Aman is in discussions to establish a unit in Saudi Arabia and provide consumer finance services to the Saudi market.<\/li>\n<li><strong>Another round of securitization is in the works:<\/strong> Aman is to sell EGP 500 mn worth of securitized bonds in the coming three months, Moghazi told <a href=\"https:\/\/hapijournal.com\/?p=199366\">Hapi Journal<\/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\/aman-financial-services\/\">Aman Financial Services<\/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\/non-banking-financial-services\/\">non-banking financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/raya-holding\/\">Raya Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548139\" 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=\"548139\">\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\">SOCIAL SECURITY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/1-mn-more-families-to-receive-public-support-amid-economic-crisis\/\">\r\n                            1 mn more families to receive public support amid economic crisis                        <\/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\/27\/1-mn-more-families-to-receive-public-support-amid-economic-crisis\/\" 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\/27\/1-mn-more-families-to-receive-public-support-amid-economic-crisis\/')\">\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\/27\/1-mn-more-families-to-receive-public-support-amid-economic-crisis\/\">\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=1 mn more families to receive public support amid economic crisis&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/1-mn-more-families-to-receive-public-support-amid-economic-crisis\/\">\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\/27\/1-mn-more-families-to-receive-public-support-amid-economic-crisis\/&title=1 mn more families to receive public support amid economic crisis\">\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=1+mn+more+families+to+receive+public+support+amid+economic+crisis+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F27%2F1-mn-more-families-to-receive-public-support-amid-economic-crisis%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\/27\/1-mn-more-families-to-receive-public-support-amid-economic-crisis\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/286.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"548140\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/1-mn-more-families-to-receive-public-support-amid-economic-crisis\/286-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/286.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"286.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/286.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/286.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548139\" class=\"content-area-description single-story post-548139 post type-post status-publish format-standard has-post-thumbnail hentry category-social-security tag-abdel-fattah-el-sisi tag-enterpriseam tag-inflation tag-madbouly-government tag-security-program tag-social-security tag-social-welfare wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-06\" class=\"content-anchor\"><\/a> <strong>Another 1 million families will be brought into the Takaful and Karama social <\/strong><strong>security program<\/strong> as part of the Sisi administration\u2019s bid to protect vulnerable people against the rising cost of living, <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02emQudnsBydKvGbL3zckkoaaZTZW6x3Dz5GqmMTFLc33m6EQrTtB6aJBRU5EibktFl\">Ittihadiya<\/a> said yesterday. This will bring the total number of people in the program to 20 mn.<\/p>\n<p><strong>This is more than we expected:<\/strong> In a televised address announcing the package of social protection measures earlier this month, Prime Minister Moustafa Madbouly <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c431b2e5-7bad-4fc0-8498-ea3b8c68db17\">said<\/a> the program would expand to cover another 450k families.<\/p>\n<p><strong>About Takaful and Karama: <\/strong>The government launched the <a href=\"https:\/\/www.worldbank.org\/en\/news\/feature\/2018\/11\/15\/the-story-of-takaful-and-karama-cash-transfer-program\">Takaful and Karama program<\/a> in 2015, supported by USD 400 mn from the World Bank. The program provides income support to the country\u2019s most vulnerable citizens via cash transfers.<\/p>\n<p><strong>The decision is part of an EGP 11 bn package<\/strong> aimed at mitigating the impact of the economic crisis on the poorest. It will also see emergency aid distributed for the coming six months to 9 mn families, people with pensions lower than EGP 2.5k a month, and public sector workers earning less than EGP 2.7k. Action to improve food security will see 2 mn cartons of subsidized commodities a month, targeting vulnerable families.<\/p>\n<p><strong>The breakdown:<\/strong> There are 1.6 mn (represented in 340k families) public sector workers earning less than a monthly EGP 2.7k, eligible for the state\u2019s emergency aid and 5 mn families where the breadwinner is receiving a pension lower than EGP 2.5k a month and there are an additional 4 mn vulnerable families also eligible for aid.<\/p>\n<p><strong>DOMESTIC REAX- <\/strong>Trade Minister Nevine Gamea used a call to Ala Mas\u2019ouleety\u2019s Ahmed Moussa (<a href=\"https:\/\/www.youtube.com\/watch?v=iCa5tNk80eU\">watch, runtime: 13:02<\/a>) to break down the list of beneficiaries from the state\u2019s six-month emergency aid program. The story dominated last night\u2019s talkshows, as we note below.<\/p>\n<p><strong>Is tax relief still on the table?<\/strong> Madbouly said earlier this month that the government is planning to raise the personal income tax exemption threshold to EGP 2.5k from EGP 2k, taking many low earnings out of tax. Ittihadiya didn\u2019t mention the plan in its statement yesterday.<\/p>\n<p><strong>Inflation has hit Egypt hard this year:<\/strong> Inflation has risen to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b70644bd-7dfc-4432-9cf7-635290bed657\">three-year highs this year<\/a> on the back of surging global food and energy prices caused by Russia\u2019s war in Ukraine, and the devaluation of the EGP, which has seen the currency decline more than 20% against the USD. The result: A jump in the cost of everything from food and fuel to transport and consumer goods, piling pressure on household finances.<\/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\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/madbouly-government\/\">Madbouly Government<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/security-program\/\">Security program<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/social-security\/\">SOCIAL SECURITY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/social-welfare\/\">social welfare<\/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=\"548141\" 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=\"548141\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/govt-sees-startups-raising-usd-850-mn-this-year-but-its-going-to-be-a-tough-slog\/\">\r\n                            Gov\u2019t sees startups raising USD 850 mn this year, but it\u2019s going to be a tough slog                        <\/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\/27\/govt-sees-startups-raising-usd-850-mn-this-year-but-its-going-to-be-a-tough-slog\/\" 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\/27\/govt-sees-startups-raising-usd-850-mn-this-year-but-its-going-to-be-a-tough-slog\/')\">\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\/27\/govt-sees-startups-raising-usd-850-mn-this-year-but-its-going-to-be-a-tough-slog\/\">\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=Gov\u2019t sees startups raising USD 850 mn this year, but it\u2019s going to be a tough slog&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/govt-sees-startups-raising-usd-850-mn-this-year-but-its-going-to-be-a-tough-slog\/\">\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\/27\/govt-sees-startups-raising-usd-850-mn-this-year-but-its-going-to-be-a-tough-slog\/&title=Gov\u2019t sees startups raising USD 850 mn this year, but it\u2019s going to be a tough slog\">\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=Gov%E2%80%99t+sees+startups+raising+USD+850+mn+this+year%2C+but+it%E2%80%99s+going+to+be+a+tough+slog+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F27%2Fgovt-sees-startups-raising-usd-850-mn-this-year-but-its-going-to-be-a-tough-slog%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\/27\/govt-sees-startups-raising-usd-850-mn-this-year-but-its-going-to-be-a-tough-slog\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/288.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"548142\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/govt-sees-startups-raising-usd-850-mn-this-year-but-its-going-to-be-a-tough-slog\/288-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/288.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"288.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/288.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/288.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548141\" class=\"content-area-description single-story post-548141 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-e-commerce tag-enterpriseam tag-fashion tag-startup-watch tag-startups tag-the-fashion-kingdom tag-venture-capital 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 startups should reel in a combined USD 850 mn of investment by the end of 2022<\/strong>, Communications Minister Amr Talaat said yesterday, according to a ministry <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0q4uGzaHEgLA4rTk6kanT9NsAhxaJ8yTXEsw9Dgn1RwdqGv9wcdmZEZxtKVx98CdCl\">statement<\/a> that cites a government projection.<\/p>\n<p><strong>How does that target compare?<\/strong> That figure would be 73% higher than the USD 490 mn worth of funding the ministry says it recorded as having landed in 2021. Our own in-house Enterprise tracker for 2021 puts the figure at around <a href=\"https:\/\/enterprise.press\/whatsnexts\/egypts-startup-scene-2021-part-startups-just-keep-breaking-investment-records\/\">USD<\/a><a href=\"https:\/\/enterprise.press\/whatsnexts\/egypts-startup-scene-2021-part-startups-just-keep-breaking-investment-records\/\">373<\/a><a href=\"https:\/\/enterprise.press\/whatsnexts\/egypts-startup-scene-2021-part-startups-just-keep-breaking-investment-records\/\">mn<\/a>, with fintech and e-commerce businesses taking the lion\u2019s share of the year\u2019s investments.<\/p>\n<p><strong>We\u2019d need a serious thaw of the coming VC winter for this to happen: Egypt\u2019s startups <\/strong><strong>have raised around USD<\/strong><strong> 288 <\/strong><strong>mn so far this year<\/strong>, according Enterprise data. Although this figure is an approximation (since many startups do not disclose the exact amount they\u2019ve raised in a round), it suggests that Planet Startup has locked in only around 29% of what the government expects, requiring a serious reversal of the economic headwinds that are causing VCs around the world to tighten their belts.<\/p>\n<p><strong>MCIT\u2019s policy priorities:<\/strong> The ministry plans to set up 19 new digital training and innovation hubs \u2014 dubbed Centers of Digital Egypt Creativity (Creativa) \u2014 to provide technical CIT training and support tech-driven startups, Talaat said. The ministry is also partnering with undisclosed global tech companies to train over 225k Egyptians during the current fiscal year at a cost of EGP 1.3 bn.<\/p>\n<p><strong>ALSO FROM PLANET STARTUP-<\/strong><\/p>\n<p><strong>Egyptian fashion e-commerce platform <\/strong><strong><a href=\"https:\/\/tfk.me\/\">The Fashion<\/a><\/strong><strong><a href=\"https:\/\/tfk.me\/\">Kingdom<\/a><\/strong><strong> (TFK) has closed a <\/strong><strong>USD 2.6 mn seed round co-led by <\/strong><strong><a href=\"https:\/\/www.c-venturesfund.com\/en\/\">CVentures<\/a><\/strong><strong> and <\/strong><strong><a href=\"https:\/\/www.a15.com\/\">A15<\/a><\/strong>, according to a <a href=\"https:\/\/ent.news\/2022\/7\/TFK-Seed-Fund-Raise-Press-release-26-July-2022.docx.pdf\">press release (pdf)<\/a>. A15, alongside fashion industry veterans Paul Antaki and Nasser Chourbagi, made follow-on investments in the round. Lotus Capital, Raba Capital, Sunny Side Venture Partners, Foundation Ventures, and the Cairo Angels also invested in the company.<\/p>\n<p><strong>About TFK:<\/strong> TFK is an online fashion store featuring local and international brands. Founded in 2020 by Fadi Antaki, Marianne Simaika, and Karim Abd El Kader, the company now sells clothes from more than 200 brands and has more than 135k customers. Order volumes have more than tripled y-o-y and TFK expects the same in 2022.<\/p>\n<p><strong>Where the money is going:<\/strong> The funds raised will be used to support hiring and build scalable technology, the statement says. It also wants to expand its B2B services and aims to launch a one-stop-shop that offers operations, co-marketing, omnichannel, and digital content creation services to fashion brands.<\/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\/e-commerce\/\">e-commerce<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fashion\/\">fashion<\/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\/the-fashion-kingdom\/\">The Fashion Kingdom<\/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=\"548143\" 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=\"548143\">\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\">A MESSAGE FROM<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/548143\/\">\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\/27\/548143\/\" 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\/27\/548143\/')\">\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\/27\/548143\/\">\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\/27\/548143\/\">\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\/27\/548143\/&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%2F27%2F548143%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\/27\/548143\/\">\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=\"548144\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/548143\/new-logo-sprite-1600x-png-6\/\" 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-548143\" class=\"content-area-description single-story post-548143 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=\"548145\" 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=\"548145\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/mahmoud-sakka-appointed-chairman-of-misr-finance-ahmed-deif-named-ceo-and-md\/\">\r\n                            Mahmoud Sakka appointed chairman of Misr Finance, Ahmed Deif named CEO and MD                        <\/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\/27\/mahmoud-sakka-appointed-chairman-of-misr-finance-ahmed-deif-named-ceo-and-md\/\" 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\/27\/mahmoud-sakka-appointed-chairman-of-misr-finance-ahmed-deif-named-ceo-and-md\/')\">\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\/27\/mahmoud-sakka-appointed-chairman-of-misr-finance-ahmed-deif-named-ceo-and-md\/\">\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=Mahmoud Sakka appointed chairman of Misr Finance, Ahmed Deif named CEO and MD&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/mahmoud-sakka-appointed-chairman-of-misr-finance-ahmed-deif-named-ceo-and-md\/\">\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\/27\/mahmoud-sakka-appointed-chairman-of-misr-finance-ahmed-deif-named-ceo-and-md\/&title=Mahmoud Sakka appointed chairman of Misr Finance, Ahmed Deif named CEO and MD\">\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=Mahmoud+Sakka+appointed+chairman+of+Misr+Finance%2C+Ahmed+Deif+named+CEO+and+MD+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F27%2Fmahmoud-sakka-appointed-chairman-of-misr-finance-ahmed-deif-named-ceo-and-md%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\/27\/mahmoud-sakka-appointed-chairman-of-misr-finance-ahmed-deif-named-ceo-and-md\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548145\" class=\"content-area-description single-story post-548145 post type-post status-publish format-standard hentry category-moves tag-enterpriseam tag-misr-finance tag-misr-insurance-holding tag-moves wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Misr Finance<\/strong>, the financing arm for Misr Ins. Holding Company (MIHC), has appointed <strong>Mahmoud El Sakka<\/strong> (<a href=\"https:\/\/www.linkedin.com\/in\/mahmoud-el-sakka-2b549311\/\">LinkedIn<\/a>) its new <strong>chairman<\/strong>. <strong>Ahmed Deif<\/strong> has been named <strong>managing director and CEO<\/strong>, <a href=\"https:\/\/tinyurl.com\/yc8kvruu\">Al Mal<\/a> reports, citing sources with knowledge of the matter.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/misr-finance\/\">Misr Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/misr-insurance-holding\/\">Misr Insurance Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548146\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"548146\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/548146\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548146\" class=\"content-area-description single-story post-548146 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.sodic.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/Sodic-25_EXPERIENCES_1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548147\" 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=\"548147\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/last-nights-talk-shows-on-the-govt-lending-a-hand-amid-surging-inflation\/\">\r\n                            Last Night\u2019s Talk Shows on the gov\u2019t lending a hand amid surging inflation                        <\/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\/27\/last-nights-talk-shows-on-the-govt-lending-a-hand-amid-surging-inflation\/\" 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\/27\/last-nights-talk-shows-on-the-govt-lending-a-hand-amid-surging-inflation\/')\">\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\/27\/last-nights-talk-shows-on-the-govt-lending-a-hand-amid-surging-inflation\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Last Night\u2019s Talk Shows on the gov\u2019t lending a hand amid surging inflation&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/last-nights-talk-shows-on-the-govt-lending-a-hand-amid-surging-inflation\/\">\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\/27\/last-nights-talk-shows-on-the-govt-lending-a-hand-amid-surging-inflation\/&title=Last Night\u2019s Talk Shows on the gov\u2019t lending a hand amid surging inflation\">\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+the+gov%E2%80%99t+lending+a+hand+amid+surging+inflation+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F27%2Flast-nights-talk-shows-on-the-govt-lending-a-hand-amid-surging-inflation%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\/27\/last-nights-talk-shows-on-the-govt-lending-a-hand-amid-surging-inflation\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548147\" class=\"content-area-description single-story post-548147 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-abdel-fattah-el-sisi tag-enterpriseam tag-imf tag-last-nights-talk-shows wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Leading chatter on the airwaves last night was President Abdel Fattah El Sisi\u2019s <\/strong><strong><a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02emQudnsBydKvGbL3zckkoaaZTZW6x3Dz5GqmMTFLc33m6EQrTtB6aJBRU5EibktFl\">announcement<\/a><\/strong><strong> that another c. 1 mn families will join the flagship Takaful and Karama welfare program. <\/strong>Coming as it does at a time of surging inflation, the move couldn\u2019t have come at a better time, economist Hany Genena told Kelma Akhira\u2019s Lamees El Hadidi (<a href=\"https:\/\/www.youtube.com\/watch?v=CRsxiJLkHII\">watch, runtime: 13: 31<\/a>). Genena noted that folks earning EGP 1-3k a month have been particularly hard hit since the slowdown in economic growth that started with the emergence of covid-19 in the spring of 2020.<\/p>\n<p><strong>Financial support > subsidies. <\/strong>The state has in recent years channeled more and more of its welfare spending into direct cash payments to welfare beneficiaries rather than its old practice of making commodities available at subsidized prices. That helps ensure help goes to those who need it most, Genena said. He expects <strong>Egypt will continue to see rising prices through year\u2019s end <\/strong>because it takes a while for global price hikes to be translated into the Egyptian market, he added, forecasting that inflation at its peak will be in the 18-20% range.<\/p>\n<p><strong>More coverage: <\/strong>Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=qSsJV71aSIo\">watch, runtime: 4:42<\/a>) and Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=y-d1FlmyjNs\">watch, runtime:<\/a><a href=\"https:\/\/www.youtube.com\/watch?v=y-d1FlmyjNs\">7:50<\/a>) also had the story. We have the full breakdown of the new package in our Social Security section, above.<\/p>\n<p><strong>Also on the airwaves last night:<\/strong><\/p>\n<ul>\n<li><strong>The IMF\u2019s growth forecast (global and for Egypt) received attention <\/strong>from Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=QOC0v8rJERc\">watch, runtime: 12:26<\/a>) and Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=__vXeWjz5Wk\">watch, runtime: 3:13<\/a>).<\/li>\n<li><strong>Some 95-96% of folks getting covif in the current wave are experiencing mild <\/strong><strong>cases<\/strong>, presidential health advisor Mohamed Awad Tag Eldin told Ala Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=pllZ9H726lE\">watch, runtime: 3:08<\/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\/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\/imf\/\">IMF<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548148\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-epcxga2\" data-v=\"4\" data-block-id=\"epcxga2\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-epcxga2-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-epcxga2-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-20dxlrs\" data-v=\"4\" data-block-id=\"20dxlrs\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-20dxlrs-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-20dxlrs-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27487.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Live More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-9806c1a\" data-v=\"4\" data-block-id=\"9806c1a\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-9806c1a-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-9806c1a-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-kh2533t\" data-v=\"4\" data-block-id=\"kh2533t\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-kh2533t-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-kh2533t-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548149\" 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=\"548149\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/carbon-credit-trading-is-back-on-the-menu\/\">\r\n                            Carbon credit trading is back on the menu?                        <\/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\/27\/carbon-credit-trading-is-back-on-the-menu\/\" 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\/27\/carbon-credit-trading-is-back-on-the-menu\/')\">\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\/27\/carbon-credit-trading-is-back-on-the-menu\/\">\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=Carbon credit trading is back on the menu?&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/carbon-credit-trading-is-back-on-the-menu\/\">\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\/27\/carbon-credit-trading-is-back-on-the-menu\/&title=Carbon credit trading is back on the menu?\">\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=Carbon+credit+trading+is+back+on+the+menu%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F27%2Fcarbon-credit-trading-is-back-on-the-menu%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\/27\/carbon-credit-trading-is-back-on-the-menu\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548149\" class=\"content-area-description single-story post-548149 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-carbon-credits tag-climate tag-cop27 tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Are carbon credits back on the agenda?<\/strong> The Financial Regulatory Authority (FRA) has received a request from a \u201clocal authority\u201d to set up a fund for trading carbon credits to coincide with the COP27 summit in November, <a href=\"https:\/\/bit.ly\/3zzlfRt\">Al Mal<\/a> reports. A proposal has been submitted to the cabinet, urging them to allow carbon credits to be traded in Egypt, Mahmoud Gebril, a senior official at the FRA, said at a roundtable, the newspaper reports.<\/p>\n<p><strong>Talk, but little action:<\/strong> The idea of setting up <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/908bdc20-5a28-465e-8048-a022330f6406\">a local carbon trading scheme<\/a> has been talked about by government officials <a href=\"https:\/\/enterprise.press\/stories\/2018\/02\/21\/environment-ministry-to-launch-egypts-first-carbon-trade-exchange\/\">since 2018<\/a> but little progress has been made over the past four years. The EGX and the Environment Ministry looked to have resuscitated the idea in February <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b3d03fcd-ba57-45bf-ba43-8a81ee22d88f\">this year<\/a> when Chairman Mohamed Farid said that they would submit a proposal to set up a carbon market to the cabinet, but nothing has been heard since.<\/p>\n<p><strong>Separately:<\/strong> An investor has submitted a proposal to the regulator to set up a EGP 1 bn fund to invest in Egypt\u2019s agriculture sector, Gebril said.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>EK Holding<\/strong>, listed on the EGX and the Borse Kuwait, will convert 6 mn EGX-listed shares owned by a single shareholder from EGP to USD. Following the transfer, the company will have 700 mn USD-denominated shares and 462.8 mn shares that change hands in EGP. (<a href=\"https:\/\/alborsaanews.com\/2022\/07\/26\/1561570\">Al Borsa<\/a>)<\/li>\n<li>E-commerce website builder <strong><a href=\"https:\/\/zvendo.com\/\">zVendo<\/a><\/strong> will integrate <strong>Fawry Accept<\/strong> services into its platform as part of a partnership agreement between the two companies. (<a href=\"https:\/\/www.zawya.com\/ar\/%D8%A7%D9%84%D8%A8%D9%8A%D8%A7%D9%86%D8%A7%D8%AA-%D8%A7%D9%84%D8%B5%D8%AD%D9%81%D9%8A%D8%A9\/%D8%A8%D9%8A%D8%A7%D9%86%D8%A7%D8%AA-%D8%A7%D9%84%D8%B4%D8%B1%D9%83%D8%A7%D8%AA\/zvendocom-ohh99625\">Statement<\/a>)<\/li>\n<li>Portuguese system integrator <strong><a href=\"https:\/\/www.celfocus.com\/home\/index.php\/#what-we-offer\">Celfocus<\/a><\/strong> has chosen <strong>Intro Group\u2019s <\/strong><strong><a href=\"https:\/\/www.advansys-esc.com\/\">Advansys<\/a><\/strong><strong><a href=\"https:\/\/www.advansys-esc.com\/\">ESC<\/a><\/strong> to help it establish and operate its first service center in Egypt. (<a href=\"https:\/\/ent.news\/2022\/7\/Celfocus-Advansys.pdf\">Statement, pdf<\/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\/carbon-credits\/\">carbon credits<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate\/\">Climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548150\" 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=\"548150\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/so-far-so-good-on-us-earnings-for-2q\/\">\r\n                            So far, so good on US earnings for 2Q                        <\/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\/27\/so-far-so-good-on-us-earnings-for-2q\/\" 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\/27\/so-far-so-good-on-us-earnings-for-2q\/')\">\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\/27\/so-far-so-good-on-us-earnings-for-2q\/\">\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=So far, so good on US earnings for 2Q&url=https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/so-far-so-good-on-us-earnings-for-2q\/\">\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\/27\/so-far-so-good-on-us-earnings-for-2q\/&title=So far, so good on US earnings for 2Q\">\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=So+far%2C+so+good+on+US+earnings+for+2Q+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F07%2F27%2Fso-far-so-good-on-us-earnings-for-2q%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\/27\/so-far-so-good-on-us-earnings-for-2q\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548150\" class=\"content-area-description single-story post-548150 post type-post status-publish format-standard hentry category-planet-finance tag-earnings tag-enterpriseam tag-financial-markets tag-google tag-microsoft tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>The first US tech earnings are in \u2014 and they\u2019re not as disappointing as expected:<\/strong> Microsoft and Google parent Alphabet were the first of the US tech giants to release their second-quarter earnings yesterday amid investor unease about how global economic headwinds are impacting revenues in the sector. <strong>Microsoft<\/strong> missed its revenue estimates but an uber-bullish full-year forecast was greeted with relief by investors, sending the company\u2019s share price up more than 6% in after-hours trading (<a href=\"https:\/\/www.microsoft.com\/en-us\/investor\/earnings\/fy-2022-q4\/press-release-webcast\">earnings release<\/a>). <strong>Alphabet<\/strong>, meanwhile, reported the slowest sales growth in two years and also missed expectations, but maintained strong revenues despite the headwinds (<a href=\"https:\/\/abc.xyz\/investor\/static\/pdf\/2022Q2_alphabet_earnings_release.pdf?cache=ed395cc\">earnings release, pdf<\/a>).<\/p><p><strong>ALSO FROM 2Q 2022 EARNINGS SEASON:<\/strong><\/p><ul>\n<li><strong>GM takes a tumble:<\/strong> Supply chain disruptions hit General Motors hard in 2Q, causing its net income to fall 40% y-o-y to USD 1.69 bn, lower than estimates. The company left its full-year outlook unchanged and said it would cut back on spending and hiring. (<a href=\"https:\/\/investor.gm.com\/news-releases\/news-release-details\/gm-reports-second-quarter-2022-results\">Earnings release<\/a>)<\/li>\n<li><strong>UBS misses earnings expectations:<\/strong> The global market sell-off in the second quarter caused the world\u2019s largest wealth manager to miss earnings estimates. The bank reported net income of USD 2.1 bn yesterday, compared with analyst estimates of USD 2.4 bn. The bank\u2019s share price fell almost 9.5% on the news. (<a href=\"https:\/\/secure.ubs.com\/minisites\/group-functions\/investor-relations\/quarterly-results\/2022\/2q22\/full-report\/2Q22_UBS_GROUP\/index.html\">Earnings release<\/a>)<\/li>\n<li><strong>McDonald's did better: <\/strong>The fast food chain\u2019s net income halved y-o-y to USD 1.19 bn but still beat estimates. (<a href=\"https:\/\/ent.news\/2022\/7\/Q2-2022-Earnings-Release.pdf\">Earnings release, pdf<\/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>9,350<\/p>\n<\/td>\n<td>\n<p>+1.2% (YTD: -21.8%)<\/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 18.89<\/p>\n<\/td>\n<td>\n<p>Sell 18.97<\/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 18.91<\/p>\n<\/td>\n<td>\n<p>Sell 18.97<\/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>11,964<\/p>\n<\/td>\n<td>\n<p>+0.8% (YTD: +6.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>9,550<\/p>\n<\/td>\n<td>\n<p>-0.4% (YTD: +12.5%)<\/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>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,247<\/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>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>3,922<\/p>\n<\/td>\n<td>\n<p>-1.2% (YTD: -17.7%)<\/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>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,306<\/p>\n<\/td>\n<td>\n<p>0.0% (YTD: -1.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td>\n<p>3,575<\/p>\n<\/td>\n<td>\n<p>-0.8% (YTD: -16.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 104.63<\/p>\n<\/td>\n<td>\n<p>-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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 8.99<\/p>\n<\/td>\n<td>\n<p>+3.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,735.70<\/p>\n<\/td>\n<td>\n<p>-0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 20,950<\/p>\n<\/td>\n<td>\n<p>-4.9% (YTD: -54.5%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 rose 1.2% at yesterday\u2019s close<\/strong> on turnover of EGP 1.1 bn (25% above the 90-day average). Foreign investors were net sellers. The index is down 21.8% YTD.<\/p><p><strong>In the green: <\/strong>Abu Dhabi Islamic Bank- Egypt (+4.8%), E-Finance (+4.8%) and EFG-Hermes (+4.3%).<\/p><p><strong>In the red: <\/strong>Ibnsina Pharma (-2.4%), MM Group (-1.5%) and Eastern Company (-1.0%).<\/p><p><strong>Asian markets are uniformly down in trading this morning<\/strong>, but futures suggest shares in Europe (save the CAC 40), the United States and Canada have a good shot at opening in positive territory later today.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings\/\">earnings<\/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\/google\/\">Google<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/microsoft\/\">microsoft<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"548151\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhat\/\">\r\n                            Read Hardhat                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">13<\/div>\r\n    \r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/fragmented-infrastructure-is-proving-a-headache-for-e-commerce-players-in-egypt\/\"> \r\n                            Fragmented infrastructure is proving a headache for e-commerce players in Egypt<\/a>\r\n                        <\/h3>\r\n    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/fragmented-infrastructure-is-proving-a-headache-for-e-commerce-players-in-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/hardhats\/fragmented-infrastructure-is-proving-a-headache-for-e-commerce-players-in-egypt\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/hardhats\/fragmented-infrastructure-is-proving-a-headache-for-e-commerce-players-in-egypt\/\">\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=Fragmented infrastructure is proving a headache for e-commerce players in Egypt&url=https:\/\/enterpriseam.com\/egypt\/hardhats\/fragmented-infrastructure-is-proving-a-headache-for-e-commerce-players-in-egypt\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/hardhats\/fragmented-infrastructure-is-proving-a-headache-for-e-commerce-players-in-egypt\/&title=Fragmented infrastructure is proving a headache for e-commerce players in Egypt\">\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=Fragmented+infrastructure+is+proving+a+headache+for+e-commerce+players+in+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Fhardhats%2Ffragmented-infrastructure-is-proving-a-headache-for-e-commerce-players-in-egypt%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>                    <\/div>\r\n    \r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/fragmented-infrastructure-is-proving-a-headache-for-e-commerce-players-in-egypt\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/289.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"548152\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/fragmented-infrastructure-is-proving-a-headache-for-e-commerce-players-in-egypt\/289-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/289.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"289.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/289.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/289.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-548151\" class=\"content-area-description post-548151 hardhat type-hardhat status-publish has-post-thumbnail hentry tag-amazon tag-e-commerce tag-enterprise-hardhat tag-enterpriseam tag-infrastructure tag-maxab 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-08\"><\/a> <strong>Egypt\u2019s infrastructure isn\u2019t where it needs to be for e-commerce players to run the show<\/strong><strong> in an orderly fashion:<\/strong> E-commerce players are having a hard time accessing the infrastructure needed to run their businesses seeing that the demand for e-commerce-suitable infrastructure outweighs what the country has to offer, industry players tell us. E-commerce businesses typically require physical infrastructure such as warehouses and distribution facilities, tech infrastructure for their platforms to be online, and delivery services to get their products into their customers\u2019 hands. All three areas raise different problems for businesses, with smaller players often having a harder time than others, our sources suggest.<\/p>\n<p><strong>These difficulties come at a time when e-commerce is booming:<\/strong> The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7d79f49a-c160-4a6b-a14b-51f6c172bd55\">covid-induced<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7d79f49a-c160-4a6b-a14b-51f6c172bd55\">e-commerce boom<\/a> in the country saw the rise of new e-commerce businesses and the expansion of existing ones, which spurred demand for suitable infrastructure and logistics.<\/p>\n<p><strong>When it comes to physical infrastructure, the demand simply outweighs supply:<\/strong> \u201cFrom an infrastructure perspective, I think the demand for warehousing capacity is way more than the supply and the prices are too expensive,\u201d B2B food and grocery platform <a href=\"https:\/\/www.maxab.io\/\">MaxAB<\/a> CEO and co-founder Belal El Megharbel tells us. \u201cThere is definitely a big lack in sustainable warehousing spaces \u2014 in terms of size, location, layout and design \u2014 that allow us to operate efficiently,\u201d El Megharbel. MaxAB had to make do with suboptimal warehouses in terms of layout, location and capacity, because it is all that is available.<\/p>\n<p><strong>This dearth of warehousing options makes building (and maintaining) the required<\/strong><strong> infrastructure quite expensive:<\/strong> \u201cAn end-to-end distribution infrastructure is expensive to build and more expensive to run, and it requires a strong, disciplined strategic approach to run it in a sustainable way that delivers a great customer experience,\u201d said Ismail Hafez, chief operating officer of grocery delivery startup <a href=\"https:\/\/www.rabbitmart.com\/\">Rabbit<\/a>. Local sportswear <a href=\"https:\/\/magmasportswear.com\/\">Magma<\/a> \u2014 which was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/107f70dc-4b46-4c5b-8d4c-bf26fb8b9d6e\">recently acquired<\/a> by Mohamed El Sewedy \u2014 initially rented out a warehouse with its own in-house team, but eventually their overhead costs became too high, Marketing Director Reem Adel said. At that point, the company decided to use digital warehousing and fulfillment management platform <a href=\"https:\/\/www.khazenly.com\/\">Khazenly<\/a>\u2019s services.<\/p>\n<p><strong>And that\u2019s to say nothing of the geographical and licensing issues:<\/strong> Finding \u201cthe right spot\u201d for fulfillment centers is also a process of its own, with factors to consider such as \u201clocation, space, surroundings, and many other factors that solve for maximum city coverage,\u201d Rabbit\u2019s Hafez told us. And businesses that want to expand out of Cairo face difficulties finding suitable warehousing spaces in remote areas, and even within the city, it\u2019s \u201cvery hard to get a license for a warehouse except in extremely designated areas,\u201d El Megharbel said.<\/p>\n<p><strong>Tech is crucial for all e-commerce players, but the complexity of the infrastructure (and<\/strong><strong> its cost) varies significantly:<\/strong> Half of Rabbit\u2019s investments went towards building out the company\u2019s \u201ctech backbone,\u201d which Hafez tells us was crucial to allow the business to minimize its \u201creliance on external factors.\u201d On the other side of the spectrum, founder of dried fruits and vegetables brand <a href=\"https:\/\/www.instagram.com\/foya.eg\/\">Foya<\/a> Khadiga El Mawardy tells us that building a website was not an initial priority for her, and started out by selling her products through her business\u2019 Instagram account. After growing her customer base, El Mawardy turned to <a href=\"https:\/\/www.zammit.shop\/en\">Zammit<\/a> to build a website for Foya. \u201cIt\u2019s very cheap and suitable for Foya right now because we\u2019re still a small business that doesn\u2019t need a ton of tech maintenance \u2014 just an online shop for customers to buy my products with minimal human interaction,\u201d El Mawardy says. Magma took a similar route, but opted for Canada\u2019s <a href=\"https:\/\/www.shopify.com\/\">Shopify<\/a>, which Adel says was an ideal choice for Magma instead of building out its own website from scratch.<\/p>\n<p><strong>Once e-commerce players figure out warehousing and tech infrastructure, it\u2019s time to<\/strong><strong> stare down one of the biggest issues: Delivery.<\/strong> Businesses that don\u2019t have an in-house delivery team tell us that it\u2019s unideal to rely on third parties for delivery. \u201cI\u2019ve tested out a few delivery companies, but due to poor handling from the delivery companies\u2019 end the products would see a decline in quality, so I decided that it\u2019s better for me to handle delivery myself,\u201d says El Mawardy. Magma also continues to rely on third-party delivery services, but faces \u201csome level of hassle,\u201d because they require constant monitoring and follow-up to ensure that deliveries are fulfilled, Adel says.<\/p>\n<p><strong>So it\u2019s unsurprising that businesses integrate delivery into their own operations: <\/strong>Rabbit, whose motto is \u201cgroceries and more in under 20 minutes,\u201d relies on a fully vertically-integrated business model, where they control the process end-to-end and with minimal dependencies on third parties. \u201cThere are no fleet providers that can offload or take a last minute piece of B2B e-commerce and that\u2019s why we resorted to operating our own warehouses and operating our own fleet of last mile delivery,\u201d El Megharbel said.<\/p>\n<p><strong>What do businesses want to see for an easier infrastructure landscape for startups?<\/strong> Ideally, startups would like to benefit from a one-stop-shop from the government for local licensing, utilities management and logistical needs, Hafez tells us. \u201cThe significant development in roads and transportation infrastructure, payments and financial infrastructure, especially over the past year has had a massive positive impact on e-commerce as well, and will set the sector up for further growth and success over the coming years.\u201d El Megharbel, meanwhile, suggests that it would be massively helpful for e-commerce players if authorities were to provide cheaper infrastructure \u2014 particularly warehousing options.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top infrastructure stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>EGAS<\/strong> is joining forces with Norway-based Kanfer Shipping and Leth Suez Transit to establish an <strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/050adc1b-cd13-40f8-8db7-c7f0bc2cfaf5\">LNG bunkering service<\/a><\/strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/050adc1b-cd13-40f8-8db7-c7f0bc2cfaf5\"><\/a>at the Suez Canal.<\/li>\n<li><strong>The Dabaa nuclear plant is finally getting off the ground:<\/strong> Russian state nuclear company Rosatom has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/60ea8ab6-9f81-43cc-a75d-b3ff1de7a342\">started building<\/a> the 4.8 GW Dabaa nuclear power plant<\/li>\n<li><strong>The Suez Canal Container Terminal wants to invest USD 500 mn to expand the capacity of East Port Said port<\/strong> by <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/52cf04dc-9b57-474a-be52-39771a19eb44\">building a 1k-meter container<\/a> berth.<\/li>\n<li>The EU is providing Egypt with a<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/1f9a69f8-4bcf-451f-a034-f661f815efe7\"><\/a><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/1f9a69f8-4bcf-451f-a034-f661f815efe7\">EUR 117.9 mn grant<\/a><\/strong><strong> for water and energy efficiency.<\/strong><\/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\/amazon\/\">Amazon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-commerce\/\">e-commerce<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/maxab\/\">MaxAB<\/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>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"548153\" 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\/27\/548153\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548153\" class=\"content-area-description single-story post-548153 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>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>30 July (Saturday): <a href=\"https:\/\/itidavirtualemploymentfair.vfairs.com\/\">ITIDA Virtual Employment Fair 2022.<\/a><\/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>31 August (Wednesday): Deadline for taxpayers with late payment fees due to make their payments and receive a 65% waiver on their fees.<\/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>11-13 September (Tuesday-Thursday): <a href=\"https:\/\/ed-forum.org\/\">Environment and Development Forum (EDF)<\/a>, InterContinental City Stars, Cairo.<\/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>1 October (Saturday): 2022- 2023 academic year begins for public universities.<\/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>7 January (Saturday): Coptic Christmas.<\/p>\n<p>25 January (Wednesday): 25 January revolution anniversary \/ Police Day.<\/p>\n<p>26 January (Thursday): National holiday in observance of 25 January revolution anniversary \/ Police Day.<\/p>\n<p><strong>FEBRUARY 2023<\/strong><\/p>\n<p>11 February (Saturday): Second semester of 2022-2023 academic year begins for public universities.<\/p>\n<p>28 February (Tuesday): Deadline for taxpayers who received a 65% waiver on their late payment fees to pay off the remainder of their fees.<\/p>\n<p><strong>MARCH 2023<\/strong><\/p>\n<p>March: 4Q2022 earnings season.<\/p>\n<p><strong>APRIL 2023<\/strong><\/p>\n<p>17 April (Monday): Sham El Nessim.<\/p>\n<p>22 April (Saturday): Eid El Fitr (TBC).<\/p>\n<p>25 April (Tuesday): Sinai Liberation Day.<\/p>\n<p>27 April (Thursday): National holiday in observance of Sinai Liberation Day (TBC).<\/p>\n<p>Late April \u2013 15 May: 1Q2023 earnings season.<\/p>\n<p><strong>MAY 2023<\/strong><\/p>\n<p>1 May (Monday): Labor Day.<\/p>\n<p>4 May (Thursday) National holiday in observance of Labor Day (TBC).<\/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>JUNE 2023<\/strong><\/p>\n<p>28 June-2 July (Wednesday-Sunday): Eid El Adha (TBC).<\/p>\n<p>30 June (Friday): June 30 Revolution Day.<\/p>\n<p><strong>JULY 2023<\/strong><\/p>\n<p>18 July (Tuesday): Islamic New Year.<\/p>\n<p>20 July (Thursday): National holiday in observance of Islamic New Year (TBC).<\/p>\n<p>23 July (Sunday): Revolution Day.<\/p>\n<p>27 July (Thursday): National holiday in observance of Revolution Day.<\/p>\n<p>Late July-14 August: 2Q2023 earnings season.<\/p>\n<p><strong>SEPTEMBER 2023<\/strong><\/p>\n<p>26 September (Tuesday): Prophet Muhammad\u2019s birthday (TBC).<\/p>\n<p>28 September (Thursday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/p>\n<p><strong>OCTOBER 2023<\/strong><\/p>\n<p>6 October (Friday): Armed Forces Day.<\/p>\n<p>Late October-14 November: 3Q2023 earnings season.<\/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":548126,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-548125","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"40073a8a-a815-416c-b1b9-062c2f646ab6","teaser":"","photo_url":"https:\/\/ent.news\/2022\/7\/32.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>IMF calls for Egypt to make \u201cdecisive\u201d reforms as loan talks continue - 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\/imf-calls-for-egypt-to-make-decisive-reforms-as-loan-talks-continue\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMF calls for Egypt to make \u201cdecisive\u201d reforms as loan talks continue\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/imf-calls-for-egypt-to-make-decisive-reforms-as-loan-talks-continue\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T22:06:40+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\/32.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\/imf-calls-for-egypt-to-make-decisive-reforms-as-loan-talks-continue\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/imf-calls-for-egypt-to-make-decisive-reforms-as-loan-talks-continue\/\",\"name\":\"IMF calls for Egypt to make \u201cdecisive\u201d reforms as loan talks continue - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/imf-calls-for-egypt-to-make-decisive-reforms-as-loan-talks-continue\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/imf-calls-for-egypt-to-make-decisive-reforms-as-loan-talks-continue\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/32.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2022-07-27T04:00:55+00:00\",\"dateModified\":\"2025-12-15T22:06:40+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/imf-calls-for-egypt-to-make-decisive-reforms-as-loan-talks-continue\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/issues\/imf-calls-for-egypt-to-make-decisive-reforms-as-loan-talks-continue\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/imf-calls-for-egypt-to-make-decisive-reforms-as-loan-talks-continue\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/32.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/32.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/imf-calls-for-egypt-to-make-decisive-reforms-as-loan-talks-continue\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Issues\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/AMarchives\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"IMF calls for Egypt to make \u201cdecisive\u201d reforms as loan talks continue\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"IMF calls for Egypt to make \u201cdecisive\u201d reforms as loan talks continue - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/issues\/imf-calls-for-egypt-to-make-decisive-reforms-as-loan-talks-continue\/","og_locale":"en_US","og_type":"article","og_title":"IMF calls for Egypt to make \u201cdecisive\u201d reforms as loan talks continue","og_url":"https:\/\/enterpriseam.com\/egypt\/issues\/imf-calls-for-egypt-to-make-decisive-reforms-as-loan-talks-continue\/","og_site_name":"EnterpriseAM Egypt","article_modified_time":"2025-12-15T22:06:40+00:00","twitter_card":"summary_large_image","twitter_image":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/32.jpg?fit=%2C&ssl=1","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/imf-calls-for-egypt-to-make-decisive-reforms-as-loan-talks-continue\/","url":"https:\/\/enterpriseam.com\/egypt\/issues\/imf-calls-for-egypt-to-make-decisive-reforms-as-loan-talks-continue\/","name":"IMF calls for Egypt to make \u201cdecisive\u201d reforms as loan talks continue - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/imf-calls-for-egypt-to-make-decisive-reforms-as-loan-talks-continue\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/imf-calls-for-egypt-to-make-decisive-reforms-as-loan-talks-continue\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/32.jpg?fit=%2C&ssl=1","datePublished":"2022-07-27T04:00:55+00:00","dateModified":"2025-12-15T22:06:40+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/imf-calls-for-egypt-to-make-decisive-reforms-as-loan-talks-continue\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/issues\/imf-calls-for-egypt-to-make-decisive-reforms-as-loan-talks-continue\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/imf-calls-for-egypt-to-make-decisive-reforms-as-loan-talks-continue\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/32.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/32.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/imf-calls-for-egypt-to-make-decisive-reforms-as-loan-talks-continue\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Issues","item":"https:\/\/enterpriseam.com\/egypt\/AMarchives\/"},{"@type":"ListItem","position":3,"name":"IMF calls for Egypt to make \u201cdecisive\u201d reforms as loan talks continue"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}}]}},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/548125","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/issue"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/548125\/revisions"}],"predecessor-version":[{"id":548163,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/548125\/revisions\/548163"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/548126"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=548125"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=548125"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=548125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}