{"id":548406,"date":"2022-08-08T03:45:35","date_gmt":"2022-08-08T03:45:35","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=548406"},"modified":"2025-12-15T22:13:25","modified_gmt":"2025-12-15T22:13:25","slug":"mohamed-farid-is-the-new-head-of-the-fra","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/mohamed-farid-is-the-new-head-of-the-fra\/","title":{"rendered":"Mohamed Farid is the new head of the FRA"},"content":{"rendered":"<section id=\"548408\" 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=\"548408\">\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\/08\/08\/this-morning-mohamed-farid-named-new-fra-chief-the-egx-rally-continued-for-a-fourth-day-yesterday\/\">\r\n                            THIS MORNING: Mohamed Farid named new FRA chief; The EGX rally continued for a fourth day yesterday                        <\/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\/08\/08\/this-morning-mohamed-farid-named-new-fra-chief-the-egx-rally-continued-for-a-fourth-day-yesterday\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The EGX rally continued for a fourth day yesterday\">\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+Mohamed+Farid+named+new+FRA+chief%3B+The+EGX+rally+continued+for+a+fourth+day+yesterday+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F08%2F08%2Fthis-morning-mohamed-farid-named-new-fra-chief-the-egx-rally-continued-for-a-fourth-day-yesterday%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\/08\/08\/this-morning-mohamed-farid-named-new-fra-chief-the-egx-rally-continued-for-a-fourth-day-yesterday\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548408\" class=\"content-area-description single-story post-548408 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-egx tag-enterpriseam tag-financial-markets tag-financial-regulatory-authority tag-mohamed-farid tag-mohamed-omran tag-moves tag-oil-and-gas tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Good morning, friends. We\u2019re going to start this morning\u2019s edition with a brief report from:<\/strong><\/p><p><a id=\"tldr-story-01\" class=\"content-anchor\"><\/a> <strong>THE DEPT. OF GOOD NEWS- We have a new head of the Financial <\/strong><strong>Regulatory Authority (FRA).<\/strong> EGX boss Mohamed Farid has been appointed as acting chairman of the FRA for one year, the exchange <a href=\"https:\/\/www.egx.com.eg\/ar\/NewsDetails.aspx?NewsID=227096\">announced<\/a> yesterday. He succeeds Mohamed Omran, who stepped down after five years at the helm of the market regulator.<\/p><p><strong>Why this matters: Farid is a business-friendly public servant<\/strong> who has shown a cool head and keen understanding of what the business community needs if it is going to invest. Whether selling foreign investors on Egyptian equities, streamlining regulation, introducing new instruments, or leading a drive to get more retail investors to participate in the market with long-term views, Farid has shown that he simply \u201cgets it.\u201d Appointed in <a href=\"https:\/\/enterprise.press\/stories\/2017\/08\/07\/what-were-tracking-on-07-august-2017\/\">August 2017<\/a> \u2014 he was Omran\u2019s successor at the EGX, too \u2014 Farid has broad experience: He was vice-chairman of the EGX during the nasty period spanning July 2010 through October 2011, was a staffer in Mahmoud Mohieldin\u2019s office during the golden era of the Ministry of Investment, was a consultant to the World Bank and taught at AUC and AAST. <strong>He also knows the stress of what it means to have to meet payroll every month:<\/strong> Farid founded and ran his own consultancy before returning to government service to lead the EGX.<\/p><p><strong>Who\u2019s going to run the EGX? <\/strong>Prime Minister Moustafa Madbouly is expected to select a new head of the EGX to succeed Farid soon. The decision was published in <a href=\"https:\/\/ent.news\/2022\/8\/fra_chairman_07-08-2022_officialgazette-english.pdf\">the Official Gazette (pdf)<\/a> yesterday.<\/p><p><strong>** Need some distractions to get you through that horribly boring 11am meeting? <\/strong>We\u2019ve got you covered:<\/p><ul>\n<li><strong><a href=\"https:\/\/www.nytimes.com\/2022\/08\/03\/science\/pigs-organs-death.html\">Is death reversible? Scientists have revived cells in dead pigs\u2019 organs.<\/a><\/strong> The researchers had previously revived brain cells in dead pigs and have now done the same in more organs. (New York Times)<\/li>\n<li><strong><a href=\"https:\/\/www.nytimes.com\/2022\/08\/05\/technology\/ai-sentient-google.html\">AI is not sentient. Why do people say it is?<\/a><\/strong> Robots can\u2019t think or feel, despite what the researchers who build them want to believe. (New York Times)<\/li>\n<li><strong><a href=\"https:\/\/www.wsj.com\/articles\/ceos-ditch-the-warm-talk-as-economy-shows-signs-that-winters-coming-11659519000\">CEOs ditch kinder approach as economy shows signs of chilling.<\/a><\/strong> As the US outlook worsens, corporate chiefs are bringing back blunt demands, performance reviews and the swag police. (Wall Street Journal)<\/li>\n<\/ul><p><strong>FOOD FOR THOUGHT- Think inflation is bad here in Omm El Donia? Try 90%<\/strong>, the New York Times suggests, writing that \u201c<a href=\"https:\/\/www.nytimes.com\/2022\/08\/06\/business\/inflation-argentina.html\">a tour through Argentina reveals that years of inflation can give rise to a truly bizarre economy<\/a>.\u201d<\/p><p><strong>Near and dear to our hearts: <\/strong><strong><a href=\"https:\/\/www.theatlantic.com\/health\/archive\/2019\/08\/how-know-if-youre-morning-person\/595990\/\">The life of a person who wakes up really, really early.<\/a><\/strong><\/p><p>\u201cExtreme larks\u201d get up naturally when some people have hardly gone to bed, the Atlantic writes. It\u2019s nice to know we are not alone\u2026<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p><a id=\"tldr-story-04\" class=\"content-anchor\"><\/a> <strong>MARKET WATCH- <\/strong><\/p><p><strong>#1- The EGX extended its rally for a fourth day yesterday<\/strong>, building on the substantial gains on Thursday which saw the bourse have its best day since March. The benchmark EGX 30 gained another 0.8% during yesterday\u2019s trading session to close at its highest level since the first week of June. It has now gained almost 17% since its recent low less than five weeks ago and is now down 15.3% year-to-date. Trading volumes were strong again yesterday, coming in at EGP 1.9 bn (or around 59% above the trailing 90-day average).<\/p><p><strong>#2- Are oil prices finally starting to slip?<\/strong> Oil prices closed last week at their lowest level since Russia invaded Ukraine in February as recession fears build. Brent lost 11% during the week to close at USD 94.92 a barrel while US crude fell 8% to USD 89.01.<\/p><p><strong>Don\u2019t bet on it:<\/strong> Global supply remains tight and will likely get tighter this winter as the EU\u2019s embargo on Russian seaborne oil comes into play on 5 December. Supply will come under further pressure if the G7 agrees to try and cap the price of Russian oil, which the group hopes to put into practice <a href=\"https:\/\/www.reuters.com\/business\/energy\/g7-aim-have-price-cap-russian-oil-place-before-dec-5-2022-07-27\/\">before the EU oil ban comes into effect<\/a>. The price? Oil at USD 130 a barrel, <a href=\"https:\/\/markets.businessinsider.com\/news\/commodities\/russian-oil-price-cap-europe-energy-crisis-ukraine-west-opec-2022-8\">according to Bank of America<\/a>.<\/p><p><strong>#3- More volatility in US equities in the cards as earnings estimates cut:<\/strong> Wall Street could be in a fresh spell of volatility as analysts cut corporate earnings expectations, according to the <a href=\"https:\/\/www.wsj.com\/articles\/investors-brace-for-more-market-volatility-as-earnings-estimates-slump-11659866304\">Wall Street Journal<\/a>. The combination of falling 3Q earnings-per-share estimates and the rising valuations in recent weeks could be setting up the market for a fall, the piece argues.<\/p><p><strong>THE BIG STORY ABROAD-<\/strong><\/p><p><strong>Dominating the global front pages this morning: The US Senate passed a sweeping <\/strong><strong>USD 430 bn climate, tax and health bill<\/strong> in a major victory for the Biden administration. The news comes after days of heated debate between Democratic and Republican lawmakers. The bill is being dubbed the Inflation Reduction Act; it aims to <strong>raise taxes on large, profitable companies<\/strong>, allocate hundreds of bns of USD on programs aimed at <strong>reducing carbon emissions<\/strong>, and hopes to reduce the federal deficit over time, in turn bringing down inflation, which has reached 40-year highs this year. The Senate passed the bill with a 51-50 party line vote that saw Vice President Kamala Harris cast the tie-breaking ballot. The bill will now head to the House on Friday, where it is expected to be passed by the Democratic majority. (<a href=\"https:\/\/apnews.com\/article\/senate-climate-tax-deal-vote-dbdb3107c4c5e3e0e5af8a58d56c7bc1\">AP<\/a> | <a href=\"https:\/\/www.reuters.com\/world\/us\/us-senate-democrats-fend-off-amendments-430-bln-climate-drug-bill-2022-08-07\/\">Reuters<\/a> | <a href=\"https:\/\/www.nytimes.com\/live\/2022\/08\/07\/us\/climate-tax-deal-vote\">NYT<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/us-policy\/2022\/08\/07\/senate-inflation-reduction-act-climate\/?itid=hp-top-table-main\">Washington Post<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-08-07\/senate-passes-democrats-landmark-tax-climate-and-drugs-bill?srnd=premium-middle-east\">Bloomberg<\/a> | <a href=\"https:\/\/www.ft.com\/content\/4d1e86e0-0254-4144-b784-88d963b310d5\">FT<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/democrats-climate-plan-gets-early-green-light-11659798389\">WSJ<\/a>)<\/p><p><strong>HAPPENING THIS WEEK- <\/strong><\/p><p><strong>We have two more rounds of public consultations on the government\u2019s state ownership <\/strong><strong>policy<\/strong> coming up this week:<\/p><ul>\n<li><strong>Higher education players<\/strong> will voice their thoughts on the privatization strategy tomorrow, 9 August.<\/li>\n<li><strong>Experts and think tanks<\/strong> will hold another round of talks on Thursday, 11 August.<\/li>\n<\/ul><p><strong>Remember:<\/strong> The government holds workshops every Sunday, Tuesday, and Thursday to see how its plans will affect specific industries. You can find more details on the schedule of the meetings <a href=\"http:\/\/eparticipation.idsc.gov.eg\/?fbclid=IwAR0roLUuQGFnSW2sa39MgFCj0jUqiG6_A-_Kya6SN4IhBJNhIqbHzMv5wdw\">here<\/a>.<\/p><p><strong>Inflation data <\/strong>for July should land on Wednesday, 10 August.<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>Ghazl El Mahalla IPO:<\/strong> The retail portion of Ghazl El Mahalla\u2019s mini-IPO will wrap next Sunday, 14 August.<\/p><p><strong>MNHD shareholders have the final word on SODIC takeover bid:<\/strong> Madinet Nasr Housing and Development will hold a general assembly meeting on Tuesday, 16 August, to decide whether to allow SODIC to conduct due diligence ahead of a potential takeover.<\/p><p><strong>Interest rates:<\/strong> The Central Bank of Egypt will meet to discuss interest rates next Thursday, 18 August.<\/p><p><strong>National Dialogue:<\/strong> The board of trustees overseeing the National Dialogue will hold its next meeting on 27 August. On the agenda: Choosing the rapporteurs for all of the committees and subcommittees of the social, political and economic tracks, and preparing the agenda and topics of discussion for the dialogue.<\/p><p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p><strong>MORNING MUST READ- <\/strong><\/p><p><strong>Missed this week\u2019s Inside Industry? <\/strong>In our weekly vertical exploring all things industry and manufacturing, <a href=\"https:\/\/enterprise.press\/industries\/printing-packaging-industry-players-weigh-privatization-plans\/\">we looked at<\/a> what the printing and packaging industry had to say about the state ownership policy document, the biggest issues facing the industry today, and what stakeholders see as viable solutions for these hurdles moving forward.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/CIRA-Blackboard-Banner-B.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. Blackboard appears every Monday in Enterprise in the place of our traditional industry news roundups.<\/p><p><strong>In today\u2019s issue:<\/strong> Previously, we\u2019ve looked at the skills that private sector companies want to see in fresh graduates and heard from company representatives about how well they think local universities prepare fresh grads for the world of work. Today, we speak to representatives in a range of sectors about what they\u2019d like to see higher education institutions do to prepare graduates to address labor market needs. Their answers span work that can be done within the universities, making work experience a mandatory part of degree programs, and amending some aspects of Egypt\u2019s higher education framework.<\/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\/egx\/\">EGX<\/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\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-farid\/\">Mohamed Farid<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-omran\/\">Mohamed Omran<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548409\" 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=\"548409\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/08\/548409\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548409\" class=\"content-area-description single-story post-548409 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\/2Cellos-Somabay1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n<p><strong>Live music at Somabay: 2CELLOS.<\/strong> World-renowned and wildly popular cellist duo, 2CELLOS, are bringing the magic of music to Somabay on 18 November, 2022. Get ready for an unforgettable night of captivating performances and electric energy.<\/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=\"548410\" 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=\"548410\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/08\/saudi-wealth-fund-could-acquire-united-bank-this-year-appoints-advisers-on-transaction\/\">\r\n                            Saudi wealth fund could acquire United Bank this year, appoints advisers on transaction                        <\/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\/08\/08\/saudi-wealth-fund-could-acquire-united-bank-this-year-appoints-advisers-on-transaction\/\" 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\/08\/08\/saudi-wealth-fund-could-acquire-united-bank-this-year-appoints-advisers-on-transaction\/')\">\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\/08\/08\/saudi-wealth-fund-could-acquire-united-bank-this-year-appoints-advisers-on-transaction\/\">\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=Saudi wealth fund could acquire United Bank this year, appoints advisers on transaction&url=https:\/\/enterpriseam.com\/egypt\/2022\/08\/08\/saudi-wealth-fund-could-acquire-united-bank-this-year-appoints-advisers-on-transaction\/\">\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\/08\/08\/saudi-wealth-fund-could-acquire-united-bank-this-year-appoints-advisers-on-transaction\/&title=Saudi wealth fund could acquire United Bank this year, appoints advisers on transaction\">\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=Saudi+wealth+fund+could+acquire+United+Bank+this+year%2C+appoints+advisers+on+transaction+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F08%2F08%2Fsaudi-wealth-fund-could-acquire-united-bank-this-year-appoints-advisers-on-transaction%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\/08\/08\/saudi-wealth-fund-could-acquire-united-bank-this-year-appoints-advisers-on-transaction\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/185.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"548411\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/08\/saudi-wealth-fund-could-acquire-united-bank-this-year-appoints-advisers-on-transaction\/185-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/185.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"185.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/185.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/185.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548410\" class=\"content-area-description single-story post-548410 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-akin-gump tag-banking tag-efg-hermes tag-enterpriseam tag-ma-watch tag-saudi-arabia tag-united-bank 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>S<\/strong><strong>audi <\/strong><strong>Arabia\u2019s sovereign wealth fund <\/strong><strong>could purchase United Bank from the <\/strong><strong>Central Bank of Egypt (CBE) before the end of the year<\/strong>, according to <a href=\"https:\/\/bit.ly\/3Q85arG\">Hapi Journal<\/a>. The Public Investment Fund (PIF) is close to wrapping up due diligence on the bank and the acquisition is expected to be finalized by December, the newspaper reports, citing sources it says have knowledge of the matter.<\/p>\n<p><strong>Who\u2019s advising?<\/strong> The PIF has reportedly appointed our friends at EFG Hermes as financial advisors and US law firm <a href=\"https:\/\/www.akingump.com\/en\/\">Akin Gump<\/a> as legal counsel for the transaction, Hapi claims. CI Capital is reportedly acting as United Bank\u2019s advisor.<\/p>\n<p><strong>Background: <\/strong>The PIF first <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9e98a9ec-3435-4759-a016-9f13d3dff520\">announced its interest<\/a> in acquiring the bank in May. The CBE owns 99.9% of United Bank, which it created in 2006 through the merger of smaller entities near the end of its well-regarded cleanup of the banking sector nearly two decades ago.<\/p>\n<p><strong>Part of a wave of new Saudi investment:<\/strong> The PIF\u2019s play for UB comes amid a backdrop of an influx of investment from our friends in the Gulf, part of a raft of support measures to help shore up Egypt\u2019s fiscal position amid global volatility triggered by the war in Ukraine. The fund has said it could <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce28f2c9-69b3-4c78-b2ab-1eb5d194e101\">invest USD 10 bn<\/a> in a range of Egyptian sectors and last week <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/358b6591-3db7-4fa1-bb2f-de2e69e31cc8\">established a company<\/a> dedicated to managing its investments in Egypt. Separately, Saudi companies <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/031ecccd-f816-4657-ae61-58d9c32a706d\">recently signed a series of agreements<\/a> that will see them invest USD 7.7 bn in Egypt.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/akin-gump\/\">Akin Gump<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/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\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/united-bank\/\">United Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548412\" 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=\"548412\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/08\/bidding-war-for-pachin\/\">\r\n                            Bidding war for Pachin?                        <\/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\/08\/08\/bidding-war-for-pachin\/\" 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\/08\/08\/bidding-war-for-pachin\/')\">\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\/08\/08\/bidding-war-for-pachin\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Bidding war for Pachin?&url=https:\/\/enterpriseam.com\/egypt\/2022\/08\/08\/bidding-war-for-pachin\/\">\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\/08\/08\/bidding-war-for-pachin\/&title=Bidding war for Pachin?\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Bidding+war+for+Pachin%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F08%2F08%2Fbidding-war-for-pachin%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\/08\/08\/bidding-war-for-pachin\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/186.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"548413\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/08\/bidding-war-for-pachin\/186-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/186.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"186.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/186.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/186.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548412\" class=\"content-area-description single-story post-548412 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-enterpriseam tag-ma-watch tag-sipes 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>Pachin has another potential suitor:<\/strong> EGX-listed Paint and Chemical Industries (Pachin) has received a non-binding offer from Universal Building Materials and Chemicals (<a href=\"https:\/\/sipesworld.com\/about-sipes\/\">Sipes<\/a>) to acquire up 100% of its shares, it said in<a href=\"https:\/\/ent.news\/2022\/8\/Sipes-and-Pachin-07-08-2022.pdf\">a disclosure (pdf)<\/a> to the EGX yesterday.<\/p>\n<p><strong>The offer: <\/strong>Sipes has offered to purchase at least 60% of the majority state-owned company for between EGP 17.50 and EGP 18.50 per share, valuing the company at EGP 420-444 mn, according to our math. Sipes\u2019 offer is an 8-14% premium to the EGP 16.20 at which Pachin\u2019s shares closed yesterday.<\/p>\n<p><strong>About <\/strong><strong>Sipes<\/strong><strong>: <\/strong>The company is a regional paint distributor, with plants in Lebanon, Jordan, Saudi Arabia, Libya and Egypt. Sipes produces home paint and industrial paint as well as wood coatings and automotive paints.<\/p>\n<p><strong>This is the second company to bid for Pachin in the past month:<\/strong> Pachin <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/be49d19c-306f-4ee9-b6ee-b0dba42a18be\">received an offer<\/a> from Saybad Industrial Investment last month, which it <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/74f34a18-edb7-4654-bb50-eac9f5012cba\">rejected<\/a>, saying that it undervalued the company. It\u2019s unclear whether Saybad is prepared to up its offer.<\/p>\n<p><strong>Sipes improved on Saybad\u2019s bid:<\/strong> Saybad priced Pachin\u2019s shares at between EGP 16.00 and EGP 16.50, valuing the company at EGP 384-396 mn.<\/p>\n<p><strong>Part of the government\u2019s privatization plans:<\/strong> The bids come as the state looks to reduce its involvement in or exit certain industries to make way for the private sector. Pachin is currently approximately 54% owned by state-owned companies and banks.<\/p>\n<p><strong>What\u2019s next:<\/strong> Pachin\u2019s board will meet to decide whether to allow Sipes to conduct due diligence.<\/p>\n<p><strong>ADVISORS-<\/strong> Catalyst Partners is acting as Pachin's financial advisor while Adsero-Raji Soliman & Associates is legal counsel. Sipes will settle on legal and financial advisors after Pachin\u2019s board decides whether or not to allow Sipes to go ahead with the transaction.<\/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\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sipes\/\">Sipes<\/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=\"548414\" 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=\"548414\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/08\/foreign-reserves-dip-for-third-consecutive-month-in-july\/\">\r\n                            Foreign reserves dip for third consecutive month in July                        <\/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\/08\/08\/foreign-reserves-dip-for-third-consecutive-month-in-july\/\" 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\/08\/08\/foreign-reserves-dip-for-third-consecutive-month-in-july\/')\">\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\/08\/08\/foreign-reserves-dip-for-third-consecutive-month-in-july\/\">\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=Foreign reserves dip for third consecutive month in July&url=https:\/\/enterpriseam.com\/egypt\/2022\/08\/08\/foreign-reserves-dip-for-third-consecutive-month-in-july\/\">\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\/08\/08\/foreign-reserves-dip-for-third-consecutive-month-in-july\/&title=Foreign reserves dip for third consecutive month in July\">\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=Foreign+reserves+dip+for+third+consecutive+month+in+July+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F08%2F08%2Fforeign-reserves-dip-for-third-consecutive-month-in-july%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\/08\/08\/foreign-reserves-dip-for-third-consecutive-month-in-july\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548414\" class=\"content-area-description single-story post-548414 post type-post status-publish format-standard hentry category-economy tag-central-bank-of-egypt tag-economy tag-enterpriseam tag-foreign-reserves 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>Foreign reserves fall again in July:<\/strong> Foreign reserves slipped to USD 33.14 bn in July, down from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/474ae176-c743-4598-987b-4d5abd357fc0\">USD 33.4 bn<\/a> a month earlier, according to <a href=\"https:\/\/www.cbe.org.eg\/en\/Pages\/HighlightsPages\/NIR-July-2022.aspx\">central bank figures<\/a> released yesterday.<\/p>\n<p><strong>Foreign reserves have declined by almost 20% <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1081735e-da66-4ffd-a584-d44e361d6b8c\">since March<\/a><\/strong> as the fallout from the war in Ukraine and rising interest rates force the central bank to intervene to cover portfolio outflows, finance imports and meet debt repayments. The market volatility led to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0d474ced-0d03-4d8c-bcf4-a5bdd19024ae\">USD 14.75 bn<\/a> leaving the country during the first three months of the year.<\/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\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-reserves\/\">foreign reserves<\/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=\"548415\" 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=\"548415\">\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\">Commodities<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/08\/egypt-to-renegotiate-canceled-ukraine-wheat-contracts\/\">\r\n                            Egypt to renegotiate canceled Ukraine wheat contracts                        <\/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\/08\/08\/egypt-to-renegotiate-canceled-ukraine-wheat-contracts\/\" 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\/08\/08\/egypt-to-renegotiate-canceled-ukraine-wheat-contracts\/')\">\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\/08\/08\/egypt-to-renegotiate-canceled-ukraine-wheat-contracts\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt to renegotiate canceled Ukraine wheat contracts&url=https:\/\/enterpriseam.com\/egypt\/2022\/08\/08\/egypt-to-renegotiate-canceled-ukraine-wheat-contracts\/\">\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\/08\/08\/egypt-to-renegotiate-canceled-ukraine-wheat-contracts\/&title=Egypt to renegotiate canceled Ukraine wheat contracts\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+to+renegotiate+canceled+Ukraine+wheat+contracts+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F08%2F08%2Fegypt-to-renegotiate-canceled-ukraine-wheat-contracts%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\/08\/08\/egypt-to-renegotiate-canceled-ukraine-wheat-contracts\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/187.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"548416\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/08\/egypt-to-renegotiate-canceled-ukraine-wheat-contracts\/187-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/187.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"187.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/187.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/187.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548415\" class=\"content-area-description single-story post-548415 post type-post status-publish format-standard has-post-thumbnail hentry category-commodities tag-commodities tag-enterpriseam tag-gasc tag-ukraine tag-wheat wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Egypt will sign new agreements with suppliers of Ukrainian wheat<\/strong> to replace contracts it canceled last month, <a href=\"https:\/\/www.ukrinform.net\/rubric-economy\/3540910-chamber-of-commerce-and-industry-egypt-hasnt-refused-ukrainian-grain-new-contract-to-be-signed.html\">Ukrainian media<\/a> reported yesterday. State grains buyer GASC <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/52b02422-9da3-4640-ae29-586a11dec254\">terminated contracts<\/a> for 240k tons of stranded Ukrainian wheat after they remained stuck in the country for months due to Russia\u2019s blockade of the country\u2019s ports.<\/p>\n<p><strong>Out with the old, in with the new: <\/strong>\u201cThe contract was concluded, but the Ukrainian side could not fulfill it in a timely manner due to the blockade of the ports,\u201d Mykhailo Nepran, the first vice president of the Ukrainian Chamber of Commerce and Industry, was quoted as telling a local TV channel. \u201cIt turned out that the agreement did not include a force majeure clause. Therefore, a completely civilized decision was made at the legislative level: to close the contract that cannot be fulfilled and open a new one, according to which the purchase will be made.\u201d<\/p>\n<p><strong>The grain pact is making this possible:<\/strong> A <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f1933af3-aebe-45a8-88cc-f95f09cc11fd\">Turkey- and UN-brokered agreement<\/a> signed between Russia and Ukraine to resume grain exports through the Black Sea is starting to gain momentum, with another <a href=\"https:\/\/www.bbc.co.uk\/news\/world-europe-62454674\">four ships departing the country<\/a> yesterday. Kyiv hopes to have <a href=\"https:\/\/finance.yahoo.com\/news\/2-first-foreign-flagged-ship-185459709.html\">three to five vessels leaving the country every day<\/a> within the next two weeks.<\/p>\n<p><strong>Egypt is a willing buyer:<\/strong> Egypt has reassured Ukraine\u2019s ambassador to Egypt, Mykola Nahorny, that it understands Ukraine\u2019s difficult situation and is ready to work together to arrange for future purchases, Nepran said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gasc\/\">GASC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ukraine\/\">Ukraine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548417\" 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=\"548417\">\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\">A MESSAGE FROM<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/08\/548417\/\">\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\/08\/08\/548417\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The 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=\"548419\" 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=\"548419\">\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\">Development finance<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/08\/another-usd-10-mn-in-ebrd-funding-could-be-heading-nbk-egypts-way\/\">\r\n                            Another USD 10 mn in EBRD funding could be heading NBK Egypt\u2019s way                        <\/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\/08\/08\/another-usd-10-mn-in-ebrd-funding-could-be-heading-nbk-egypts-way\/\" 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\/08\/08\/another-usd-10-mn-in-ebrd-funding-could-be-heading-nbk-egypts-way\/')\">\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\/08\/08\/another-usd-10-mn-in-ebrd-funding-could-be-heading-nbk-egypts-way\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Another USD 10 mn in EBRD funding could be heading NBK Egypt\u2019s way&url=https:\/\/enterpriseam.com\/egypt\/2022\/08\/08\/another-usd-10-mn-in-ebrd-funding-could-be-heading-nbk-egypts-way\/\">\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\/08\/08\/another-usd-10-mn-in-ebrd-funding-could-be-heading-nbk-egypts-way\/&title=Another USD 10 mn in EBRD funding could be heading NBK Egypt\u2019s way\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Another+USD+10+mn+in+EBRD+funding+could+be+heading+NBK+Egypt%E2%80%99s+way+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F08%2F08%2Fanother-usd-10-mn-in-ebrd-funding-could-be-heading-nbk-egypts-way%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\/08\/08\/another-usd-10-mn-in-ebrd-funding-could-be-heading-nbk-egypts-way\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548419\" class=\"content-area-description single-story post-548419 post type-post status-publish format-standard hentry category-development-finance tag-development-finance tag-enterpriseam tag-eu tag-nbk-egypt tag-smes 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>More love from EBRD to NBK?<\/strong> The National Bank of Kuwait Egypt (NBK Egypt) could get another USD 10 mn senior unsecured loan from the European Bank of Reconstruction and Development (EBRD) for on-lending to youth-led MSMEs, according to the lender\u2019s <a href=\"https:\/\/www.ebrd.com\/work-with-us\/projects\/psd\/53670.html\">website<\/a>.<\/p>\n<p><strong>What\u2019s a senior loan?<\/strong> A senior bank loan is money lent to a business by a financial institution which is then repackaged and sold to other investors.<\/p>\n<p><strong>NBK Egypt is now in line for USD 50 mn in funding:<\/strong> The EBRD <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4a33a642-0c7c-4b45-8644-f7aa80840815\">said last week<\/a> that it is considering providing a USD 40 mn loan to the bank for on-lending to MSMEs.<\/p>\n<p><strong>This one\u2019s for <\/strong><strong><a href=\"https:\/\/www.youtube.com\/watch?v=Nd1CijCUj8w\">the youts<\/a><\/strong><strong>:<\/strong> \u201cThe project will increase the availability of finance for youth-led businesses to improve their skill-sets, know-how and expand their business capabilities in the market,\u201d the website reads. \u201cThe loan will support NBK in the development and refinement of products, services and\/or delivery mechanisms that cater to the needs of young entrepreneurs.\u201d<\/p>\n<p><strong>What\u2019s next<\/strong>: EBRD could approve both loans on 7 September.<\/p>\n<p><strong>ALSO IN DEVELOPMENT FINANCE-<\/strong><\/p>\n<p><strong>The EU is providing Egypt with a EUR 4 mn grant<\/strong> for the third phase of the EUR 145 mn <a href=\"https:\/\/www.eeaa.gov.eg\/en-us\/mediacenter\/reports\/projectstudies\/epap\/epapiii.aspx\">Egyptian Pollution Abatement Program<\/a>. (<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02YRP6YZeJoeibkZjy8b6fqpzMcLTL9wz2QydU1FZ9snE3AwhBbYSiiz4GLNqPHTBNl\">Statement<\/a>)<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nbk-egypt\/\">NBK Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smes\/\">SMEs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548420\" 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=\"548420\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/08\/548420\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548420\" class=\"content-area-description single-story post-548420 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_CONNECTIONS_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=\"548421\" 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=\"548421\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/08\/last-nights-talk-shows-gaza-ceasefire-headlines-talk-shows\/\">\r\n                            Last Night\u2019s Talk Shows: Gaza ceasefire headlines talk shows                        <\/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\/08\/08\/last-nights-talk-shows-gaza-ceasefire-headlines-talk-shows\/\" 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\/08\/08\/last-nights-talk-shows-gaza-ceasefire-headlines-talk-shows\/')\">\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\/08\/08\/last-nights-talk-shows-gaza-ceasefire-headlines-talk-shows\/\">\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: Gaza ceasefire headlines talk shows&url=https:\/\/enterpriseam.com\/egypt\/2022\/08\/08\/last-nights-talk-shows-gaza-ceasefire-headlines-talk-shows\/\">\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\/08\/08\/last-nights-talk-shows-gaza-ceasefire-headlines-talk-shows\/&title=Last Night\u2019s Talk Shows: Gaza ceasefire headlines talk shows\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Last+Night%E2%80%99s+Talk+Shows%3A+Gaza+ceasefire+headlines+talk+shows+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F08%2F08%2Flast-nights-talk-shows-gaza-ceasefire-headlines-talk-shows%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\/08\/08\/last-nights-talk-shows-gaza-ceasefire-headlines-talk-shows\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548421\" class=\"content-area-description single-story post-548421 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-abdel-fattah-el-sisi tag-diplomacy tag-education tag-energy tag-enterpriseam tag-gaza tag-green-hydrogen tag-israel tag-israel-palestine-conflict tag-last-nights-talk-shows tag-politics tag-water wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Egypt\u2019s role mediating the ceasefire between Israel and Palestinian Islamic Jihad <\/strong><strong>yesterday dominated the airwaves last night<\/strong>, with coverage from Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=dVyPiyAdbSM\">watch, runtime: 1:59<\/a>), Salet El Tahrir (<a href=\"https:\/\/www.youtube.com\/watch?v=igzZ4wmoOpM\">watch, runtime: 4:22<\/a>), and Ala Mas\u2019ouleety (watch, runtime: <a href=\"https:\/\/www.youtube.com\/watch?v=jouC1mukEng\">8:00<\/a> | <a href=\"https:\/\/www.youtube.com\/watch?v=pX_frf34T8s\">4:32<\/a>). We have more details in this morning\u2019s Diplomacy section, below.<\/p>\n<p><strong>The Palestinian Authority \u201cwelcomes the ceasefire\u201d and is thankful for Egypt\u2019s efforts<\/strong> to bring an end to the violence in Gaza, PA spokesperson Ibrahim Melhem said on Salet El Tahrir. \u201cCairo was persistent and patient in its efforts to secure a ceasefire, and it refused to give up,\u201d Mahmoud Al Habbash, adviser to Palestinian President Mahmoud Abbas, told Ala Mas\u2019ouleety\u2019s Ahmed Moussa.<\/p>\n<p><strong>Egypt played its traditional role as a mediator between Israel and Palestine<\/strong>, Arab League Assistant Secretary-General Hossam Zaki told Moussa, emphasizing the importance of Arab nations\u2019 support in addressing the occupation in Gaza.<\/p>\n<p><strong>Also on the airwaves last night:<\/strong><\/p>\n<ul>\n<li><strong>Egypt currently suffers from a 54 bn cubic meter water deficit<\/strong>, with our demand for 114 bn cubic meters of water representing nearly double our current total capacity of 60 bn cubic meters, Water Ministry spokesperson Mohamed Ghanem said. (Ala Mas\u2019ouleety | <a href=\"https:\/\/www.youtube.com\/watch?v=wKGuT2_9FCw\">watch, runtime: 5:39<\/a>)<\/li>\n<li><strong>President Abdel Fattah El Sisi directed the government to include green hydrogen <\/strong><strong>in Egypt\u2019s energy mix<\/strong> in a meeting with several cabinet members held to follow up on Egypt\u2019s strategy for sustainable and renewable energy. (Ala Mas\u2019ouleety | <a href=\"https:\/\/www.youtube.com\/watch?v=Fgzkl0QT_HI\">watch, runtime: 5:35<\/a>)<\/li>\n<li><strong>Tuition fees for 12 new non-profit universities the government <\/strong><strong><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02AP5RP6qCQ4HWvYUbpHwYJpDAD3xqW8NKo5RgzMHbTm9bNKhPVop4NH85gty2bzCol\">plans to establish<\/a><\/strong> <strong>will be more than 50% subsidized by the government<\/strong>, Higher Education Minister Khaled Abdel Ghaffar said. The minister didn\u2019t disclose the fees. (Salet El Tahrir | <a href=\"https:\/\/www.youtube.com\/watch?v=v9bClWYyZ8c\">watch, runtime: 3:01<\/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\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel-palestine-conflict\/\">Israel-Palestine conflict<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/water\/\">water<\/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=\"548422\" 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 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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-guz38s4\" data-v=\"4\" data-block-id=\"guz38s4\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-guz38s4-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-guz38s4-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\" 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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=\"548423\" 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=\"548423\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/08\/yesterdays-gaza-truce-is-front-page-news-everywhere\/\">\r\n                            Yesterday\u2019s Gaza truce is front page news everywhere                        <\/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\/08\/08\/yesterdays-gaza-truce-is-front-page-news-everywhere\/\" 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\/08\/08\/yesterdays-gaza-truce-is-front-page-news-everywhere\/')\">\n             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class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/08\/08\/yesterdays-gaza-truce-is-front-page-news-everywhere\/&title=Yesterday\u2019s Gaza truce is front page news everywhere\">\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=Yesterday%E2%80%99s+Gaza+truce+is+front+page+news+everywhere+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F08%2F08%2Fyesterdays-gaza-truce-is-front-page-news-everywhere%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\/08\/08\/yesterdays-gaza-truce-is-front-page-news-everywhere\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548423\" class=\"content-area-description single-story post-548423 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-diplomacy tag-enterpriseam tag-gaza tag-israel tag-israel-palestine-conflict tag-politics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Dominating the conversation on Egypt in the international press this morning:<\/strong> Egyptian mediators have managed to negotiate a ceasefire between Israel and Palestinian militants in Gaza. We have more in this morning\u2019s Diplomacy section, below. (<a href=\"https:\/\/apnews.com\/article\/middle-east-israel-militant-groups-gaza-strip-0c1565488cc2dc03f80200edcdd49a56\">Associated Press<\/a> | <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/palestinian-rockets-reach-west-jerusalem-third-day-gaza-fighting-2022-08-07\/\">Reuters<\/a> | <a href=\"https:\/\/english.ahram.org.eg\/News\/472792.aspx\">AFP<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-08-07\/egypt-seeking-to-broker-a-truce-between-israel-islamic-jihad?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a> | <a href=\"https:\/\/www.ft.com\/content\/44aab156-b012-490b-92bd-0eb7f6ebdaf8\">FT<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/palestinian-militants-fire-rockets-at-jerusalem-on-third-day-of-fighting-11659874748?mod=hp_lead_pos10\">WSJ<\/a> | <a href=\"https:\/\/www.cnbc.com\/2022\/08\/07\/cease-fire-between-palestinians-israel-takes-effect-in-gaza.html\">CNBC<\/a>)<\/p>\n<p><strong>Also in the foreign press: No AC, no problem: <\/strong>An Egyptian architect is using traditional techniques to keep buildings cool without the need for air conditioning. (<a href=\"https:\/\/www.thenationalnews.com\/mena\/2022\/08\/05\/how-one-egyptian-architect-is-keeping-buildings-cool-without-air-conditioning\/\">The National<\/a>)<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel-palestine-conflict\/\">Israel-Palestine conflict<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548424\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548425\" 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=\"548425\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/08\/egyptair-to-operate-sharm-tripoli-flights-from-tomorrow\/\">\r\n                            EgyptAir to operate Sharm-Tripoli flights from tomorrow                        <\/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\/08\/08\/egyptair-to-operate-sharm-tripoli-flights-from-tomorrow\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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(<a href=\"https:\/\/tinyurl.com\/mucs8esn\">Hapi Journal<\/a>)<\/li>\n<li><strong>EgyptAir <\/strong>will operate direct flights from Libya\u2019s <strong>Tripoli <\/strong>to <strong>Sharm El Sheikh<\/strong> starting Tuesday, 9 August until 11 October. (<a href=\"https:\/\/english.ahram.org.eg\/NewsContent\/1\/1238\/472793\/Egypt\/Tourism\/EgyptAir-to-operate-flights-from-Tripoli-to-Sharm-.aspx\">Ahram Online<\/a>)<\/li>\n<li>Fertilizer company <strong>EverGrow <\/strong>will launch operations of the EGP 2.5 bn <strong>third phase<\/strong> of its <strong>fertilizer complex<\/strong> in Sadat City next month. (Amwal El Ghad)<\/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\/egyptair\/\">EgyptAir<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/evergrow\/\">Evergrow<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fertilizers\/\">fertilizers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/libya\/\">Libya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/o-west\/\">O West<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-development-egypt\/\">Orascom Development Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sharm-el-sheikh\/\">Sharm El Sheikh<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548426\" 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=\"548426\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/08\/food-prices-see-biggest-monthly-fall-since-october-2008\/\">\r\n                            Food prices see biggest monthly fall since October 2008                        <\/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\/08\/08\/food-prices-see-biggest-monthly-fall-since-october-2008\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The Food and Agriculture Organization (FAO) index fell 8.6% to 140.9 points during the month, marking its biggest monthly fall since October 2008.<\/p><p><strong>Yes, but\u2026<\/strong> Food prices remain incredibly high by historical standards. July\u2019s reading was the sixth highest since the FAO index began in 1990 and is 13% higher than a year earlier in July 2021.<\/p><p><strong>Still, things are heading in the right direction:<\/strong> Prices have now fallen almost 12% from the record high set in March, and with global grain supply chains anticipated to improve following last month\u2019s export agreement between Ukraine and Russia, the trend is likely to continue in the coming months.<\/p><p><strong>Also worth noting:<\/strong><\/p><ul>\n<li><strong>Should 75 bps be the Fed\u2019s status quo going forward?<\/strong> Fed Governor Michelle Bowman thinks the central bank should stick to raising interest rates by 75 bps going forward until inflation starts to decline in a \u201cconsistent, meaningful, and lasting way,\u201d she said last week. <strong>Remember:<\/strong> It\u2019s looking likely that at least one more large hike could be in the cards in September due to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e7ca0420-bf2a-4e6c-a44d-b6c0f22723a5\">last week\u2019s labor data<\/a>. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-08-06\/fed-s-bowman-backs-more-large-rate-hikes-until-inflation-eases\">Bloomberg<\/a>)<\/li>\n<li><strong>Big Oil is showering shareholders with dividend payouts:<\/strong> Flush with liquidity from soaring oil prices, some oil and gas firms are paying out an entire year\u2019s worth of dividends in a single day. <a href=\"https:\/\/www.conocophillips.com\/news-media\/story\/conocophillips-reports-second-quarter-2022-results-announces-increase-in-planned-2022-return-of-capital-to-15-billion-and-declares-quarterly-dividend-and-variable-return-of-cash-distribution\/\">ConocoPhillips<\/a> and Canadian firm <a href=\"https:\/\/www.tourmalineoil.com\/investors\">Tourmaline Oil<\/a> are among the companies rewarding investors with special dividends, an industry development likened by one analyst to a \u201cbroken ATM spewing out cash.\u201d (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-08-05\/big-oil-is-paying-out-years-of-dividends-in-one-day?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/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>10,124<\/p>\n<\/td>\n<td>\n<p>+0.8% (YTD: -15.3%)<\/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 19.07<\/p>\n<\/td>\n<td>\n<p>Sell 19.18<\/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 19.10<\/p>\n<\/td>\n<td>\n<p>Sell 19.16<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>11.25% deposit<\/p>\n<\/td>\n<td>\n<p>12.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>12,217<\/p>\n<\/td>\n<td>\n<p>-0.6% (YTD: +8.29%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>9,916<\/p>\n<\/td>\n<td>\n<p>+1.0% (YTD: +16.82%)<\/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>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,317<\/p>\n<\/td>\n<td>\n<p>-0.1% (YTD: +3.8%)<\/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>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,145<\/p>\n<\/td>\n<td>\n<p>-0.2% (YTD: -13.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,440<\/p>\n<\/td>\n<td>\n<p>-0.1% (YTD: +0.8%)<\/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>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td>\n<p>3,725<\/p>\n<\/td>\n<td>\n<p>-0.8% (YTD: -13.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 94.92<\/p>\n<\/td>\n<td>\n<p>+0.9%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 8.06<\/p>\n<\/td>\n<td>\n<p>-0.9%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,791.20<\/p>\n<\/td>\n<td>\n<p>-0.9%<\/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>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 23,286<\/p>\n<\/td>\n<td>\n<p>+0.4% (YTD: -49.6%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 rose 0.8% at yesterday\u2019s close<\/strong> on turnover of EGP 1.86 bn (56% above the 90-day average). Local investors were net buyers. The index is down 15.3% YTD.<\/p><p><strong>In the green: <\/strong>Ibnsina Pharma (+6.4%), Heliopolis Housing (+4.9%) and Credit Agricole Egypt (+4.2%).<\/p><p><strong>In the red: <\/strong>e-Finance (-5%), Juhayna (-4.2%) and CIRA (-3.7%).<\/p><p><strong>Selling pressure looks like it is shaping up to be the theme of the day. <\/strong>The Hang Seng, ASX, Shanghai, and Seoul\u2019s Kospi are all in the red at dispatch time, while the Nikkei is just barely clinging to the green. Of major European and North American markets, futures suggest only the FTSE 100 and Germany\u2019s DAX30 will be in the green at the opening bell.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/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\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548427\" 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=\"548427\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/08\/ceasefire-in-gaza\/\">\r\n                            Ceasefire in Gaza                        <\/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\/08\/08\/ceasefire-in-gaza\/\" 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\/08\/08\/ceasefire-in-gaza\/')\">\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\/08\/08\/ceasefire-in-gaza\/\">\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=Ceasefire in Gaza&url=https:\/\/enterpriseam.com\/egypt\/2022\/08\/08\/ceasefire-in-gaza\/\">\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\/08\/08\/ceasefire-in-gaza\/&title=Ceasefire in Gaza\">\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=Ceasefire+in+Gaza+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F08%2F08%2Fceasefire-in-gaza%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\/08\/08\/ceasefire-in-gaza\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548427\" class=\"content-area-description single-story post-548427 post type-post status-publish format-standard hentry category-diplomacy tag-diplomacy tag-enterpriseam tag-gaza tag-israel tag-israel-palestine-conflict tag-politics wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Egypt mediates truce between Israel + Gaza militants: <\/strong>Israel and Palestinian Islamic Jihad (PIJ) have agreed to an Egypt-brokered ceasefire that started last night following three days of deadly violence that left 44 dead in Gaza, including two senior PIJ figures. The truce came into effect at 11.30pm and the two sides confirmed in <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-08-07\/egypt-seeking-to-broker-a-truce-between-israel-islamic-jihad?sref=mmeFTDW1\">statements<\/a> to reporters that they had accepted the terms and thanked Egypt for its efforts to bring an end to the fighting, but warned that they would respond to any violations.<\/p>\n<p><strong>The ceasefire came after Egyptian officials spent hours making phone calls Sunday afternoon with both parties<\/strong>, security sources told state-owned <a href=\"https:\/\/www.facebook.com\/extranewstv\/posts\/pfbid0ht47DzLCNG2sEEFT9rbYQwwEKjKJpzG88r9Xgbcu6mEiKHFzp1UAK9LgWtFoSRPDl\">Extra News<\/a>. An Egyptian intelligence delegation was also reportedly in Israel yesterday in a push for a ceasefire.<\/p>\n<p><strong>Egypt had to make promises to PIJ:<\/strong> Egypt agreed to lobby Israel to release two PIJ members under the terms agreed for the ceasefire.<\/p>\n<p><strong>Cairo has been a crucial mediator between Israel and Palestine in recent years<\/strong>, successfully <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f8a32c2f-201f-44ba-a719-8ee9b42efd75\">brokering a ceasefire<\/a> to end 11 days of fighting between Israel and Hamas in May 2021.<\/p>\n<p><strong>The human toll: <\/strong>The fighting has left at least 44 Palestinians dead, including 15 children, and over 310 injured, <a href=\"https:\/\/www.skynewsarabia.com\/middle-east\/1545118-%D8%A8%D9%88%D8%B3%D8%A7%D8%B7%D8%A9-%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%A7%D9%84%D8%AC%D9%87%D8%A7%D8%AF-%D8%AA%D9%88%D9%94%D9%83%D8%AF-%D8%A7%D9%84%D8%AA%D9%88%D8%B5%D9%84-%D9%84%D8%A7%D8%AA%D9%81%D8%A7%D9%82-%D9%87%D8%AF%D9%86%D8%A9-%D8%A7%D8%B3%D8%B1%D8%A7%D9%8A%D9%94%D9%8A%D9%84\">Sky News Arabia<\/a> reported. No Israeli casualties have been reported.<\/p>\n<p><strong>The ceasefire comes after an Israeli airstrike killed another PIJ figurehead: <\/strong>Israeli forces killed Khaled Mansour, who led the Islamic Jihad\u2019s operations in the southern Gaza Strip, on Saturday, the <a href=\"https:\/\/apnews.com\/article\/middle-east-israel-militant-groups-gaza-strip-0c1565488cc2dc03f80200edcdd49a56\">Associated Press<\/a> reports. This comes just a few days after Israel <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cd39794b-0981-4483-a8b4-16c3e7fb7570\">assassinated Tayseer Jabari<\/a>, who led the group in the north of the strip, the act which sparked the new round of violence between the two sides.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel-palestine-conflict\/\">Israel-Palestine conflict<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548428\" 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=\"548428\">\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\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/08\/kenyans-elect-a-new-president-tomorrow-china-cuts-military-climate-talks-with-us\/\">\r\n                            Kenyans elect a new president tomorrow + China cuts military, climate talks with US                        <\/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\/08\/08\/kenyans-elect-a-new-president-tomorrow-china-cuts-military-climate-talks-with-us\/\" 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\/08\/08\/kenyans-elect-a-new-president-tomorrow-china-cuts-military-climate-talks-with-us\/')\">\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\/08\/08\/kenyans-elect-a-new-president-tomorrow-china-cuts-military-climate-talks-with-us\/\">\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=Kenyans elect a new president tomorrow + China cuts military, climate talks with US&url=https:\/\/enterpriseam.com\/egypt\/2022\/08\/08\/kenyans-elect-a-new-president-tomorrow-china-cuts-military-climate-talks-with-us\/\">\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\/08\/08\/kenyans-elect-a-new-president-tomorrow-china-cuts-military-climate-talks-with-us\/&title=Kenyans elect a new president tomorrow + China cuts military, climate talks with US\">\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=Kenyans+elect+a+new+president+tomorrow+%2B+China+cuts+military%2C+climate+talks+with+US+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F08%2F08%2Fkenyans-elect-a-new-president-tomorrow-china-cuts-military-climate-talks-with-us%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\/08\/08\/kenyans-elect-a-new-president-tomorrow-china-cuts-military-climate-talks-with-us\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548428\" class=\"content-area-description single-story post-548428 post type-post status-publish format-standard hentry category-around-the-world tag-around-the-world tag-china tag-enterpriseam tag-nancy-pelosi tag-politics tag-recep-tayyip-erdogan tag-russia tag-taiwan tag-turkey tag-ukraine tag-us wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Kenyans go to the polls tomorrow to elect a new president. <\/strong>Sitting vice-president William Ruto is in the lead, polls show, with what he calls a \u201chustler nation\u201d message tuned to the hopes and frustrations of the nation\u2019s youth. Ruto has been in office for some nine years and is taking on five-time presidential candidate Raila Odinga. <a href=\"https:\/\/www.nytimes.com\/2022\/08\/06\/world\/africa\/kenya-election.html?referringSource=articleShare&utm_source=pocket_mylist\">The New York Times serves up a \u201cwhy Kenya matters to the west\u201d story<\/a> (God help us), <a href=\"https:\/\/www.bbc.com\/news\/world-africa-62423445\">BBC<\/a> looks at how Kenya\u2019s top election official looks to deliver a corruption-free vote, while <a href=\"https:\/\/www.the-star.co.ke\/news\/2022-08-07-dont-be-cheated-by-rutos-eloquence-uhuru\/\">Kenya\u2019s The Star<\/a> reports that outgoing president Uhuru Kenyatta savaged his former vice president, telling voters \u201cI want to urge you that do not be cheated by Ruto\u2019s eloquence. I have worked with him and has found that he is a person who is untrustworthy and of bad temper, he is not thus fit to lead this nation.\u201d <strong>Need to get up to speed? <\/strong>The BBC has decent scene-setters <a href=\"https:\/\/www.bbc.com\/news\/world-africa-62394406\">here<\/a> and <a href=\"https:\/\/www.bbc.com\/news\/world-africa-62184544\">here<\/a>.<\/p>\n<p><strong>US-China relations reach new low in wake of Pelosi Taiwan visit:<\/strong> China has ended dialogue with the US on key issues in response to US House Speaker Nancy Pelosi\u2019s high-profile and controversial visit to Taiwan last week, the country\u2019s Foreign Ministry <a href=\"https:\/\/www.fmprc.gov.cn\/mfa_eng\/xwfw_665399\/s2510_665401\/2535_665405\/202208\/t20220805_10735706.html\">said<\/a> Friday. Beijing has canceled communications with the US military, ended climate talks with Washington and suspended cooperation over cross-border crime, it said.<\/p>\n<p><strong>More on deepening Turkey-Russia ties:<\/strong> Five Turkish banks are adopting Russia\u2019s MIR payments system \u2014 the country\u2019s answer to Mastercard and Visa \u2014 in the wake of Turkish President Recep Tayyip Erdogan\u2019s talks with President Vladimir Putin in the Black Sea resort of Sochi on Friday, Turkey\u2019s state-run <a href=\"https:\/\/www.aa.com.tr\/en\/turkiye\/ankara-working-with-moscow-for-grain-shipment-from-russian-ports-turkish-president\/2655205\">Andalou Agency<\/a> quoted Erdogan as saying on Saturday. Payment in RUB will provide financial support to both Turkey and Russia, the president said. Turkey has also agreed to pay for some Russian gas in RUB.<\/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\/around-the-world\/\">Around the World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nancy-pelosi\/\">Nancy Pelosi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/recep-tayyip-erdogan\/\">Recep Tayyip Erdogan<\/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\/taiwan\/\">Taiwan<\/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\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"548429\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27466.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into education in Egypt, from K-12 to post-secondary.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27480.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Monday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/blackboard\/\">\r\n                            Read Blackboard                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">13<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/what-universities-should-do-to-better-prepare-fresh-gads-for-the-labor-force-according-to-the-private-sector\/\">\r\n                            What universities should do to better prepare fresh gads for the labor force, according to the private sector<\/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 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              <\/a>\r\n                        \n<article id=\"post-548429\" class=\"content-area-description post-548429 blackboard type-blackboard status-publish has-post-thumbnail hentry tag-education tag-enterprise-blackboard tag-enterpriseam tag-labor 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>What would private sector firms like to see universities doing more of, to better equip <\/strong><strong>fresh grads to enter the labor force?<\/strong> Last month, we looked into the skills that companies from a range of sectors <a href=\"https:\/\/enterprise.press\/blackboards\/skill-sets-egyptian-labor-force-look-fresh-graduates\/\">look for in fresh graduates<\/a> and how well they think local <a href=\"https:\/\/enterprise.press\/blackboards\/egypts-fresh-graduates-provided-skills-need-work\/\">universities prepare them for the labor force<\/a>. Today, we look at what these companies want to see higher education institutions doing to make their graduates more prepared for the modern labor force and better equipped to address labor needs.<\/p>\n<p><strong>Their answers fell under three broad categories:<\/strong> Work that can be done within the university itself \u2014 including reorienting curricula towards real-work skills acquisition \u2014 making work experience at companies outside the university a mandatory part of degree programs, and amending some aspects of Egypt\u2019s higher education framework, sector representatives from law firms, startups, and companies in a range of industries told us.<\/p>\n<p><strong>For starters, university curricula should focus more on real-world skills application<\/strong>, says PepsiCo HR Senior Director Naniece Fahmy. This could include understanding how emerging industries or departments can be used to improve customer experience. When it comes to entering progressive industries or looking at modern ways of doing business, students need to understand how ideas translate into practical application, she notes. \u201cWhen we talk about e-commerce, artificial intelligence, robotic process automation, or consumer centricity, what does it mean?\u201d At the moment, these things aren\u2019t generally covered in textbooks or in the classroom, she adds.<\/p>\n<p><strong>This real-world application includes a better understanding of the business environment to put their knowledge to practical use: <\/strong>Rather than memorizing laws and applying them in a rigid way, irrespective of circumstance, law students need to be taught that their job as lawyers is to facilitate their clients\u2019 businesses transactions, says Firas El Samad, managing partner at Zulficar and Partners. \u201cLaw is not about knowledge alone, but about applying the rules in a fair and just way to best serve the interest of your clients and protect them.\u201d<\/p>\n<p><strong>It could mean setting projects for engineering students that tackle real-world problems: <\/strong>Engineering student projects and theses should be tailored towards existing gaps and needs in different companies and markets, says Yousef ElSammaa, chief strategy officer at <a href=\"https:\/\/thisismotherbeing.com\/\">Mother Being<\/a>. This would offer students real exposure and enable them to test the viability of their projects at an early stage \u2014 and it would be more motivating than the projects they\u2019re usually assigned, which tend not to have an immediate practical application, he adds.<\/p>\n<p><strong>Or pushing students to work on extracurricular activities that help them develop skills like financial literacy: <\/strong>University clubs and activities can help students develop skills including problem solving, planning, structuring, analysis, and budgeting, says Kamal El Soueni, co-founder and CEO of Rabbit Mobility. Fresh grads with this kind of experience are streaks ahead of their peers when it comes to understanding things like the financial aspects of business, he adds.<\/p>\n<p><strong>Overall, there needs to be more emphasis on cultivating soft skills<\/strong>, such as leadership and presentation skills, and help their students think about how organizations work, says Fahmy. Also critical is encouraging students to think ahead and use critical thinking to anticipate developments and how to prepare for them, says HSBC Egypt\u2019s Head of HR Moustafa Raouf. \u201cIt\u2019s a big shift away from just studying what you\u2019re told to study. Preparation involves asking yourself, \u2018how can I think differently?\u2019, \u2018what will happen if I do this?\u2019, or \u2018what am I expected to do in this situation?\u2019,\u201d Raouf adds.<\/p>\n<p><strong>Some also believe universities should include mandatory work experience at private sector companies as a graduation requirement:<\/strong> \u201cThis would help them master vital skills, including project management or how to manage pressure in the workplace,\u201d says Wafik Beshara, VP of HR at CEMEX Egypt. \u201cIf construction or mechanical engineers worked with us for six months before graduating, they\u2019d finish their degree programs with a basic knowledge of how corporations function.\u201d Sakneen co-founder and CTO Hussein El Kheshen agrees: \u201cI feel no one should graduate with less than a year of work experience,\u201d he adds.<\/p>\n<p><strong>This is already in play overseas:<\/strong> Many European universities apply this model, notes Beshara. Mandatory work experience, <a href=\"https:\/\/careercenter.aucegypt.edu\/students\/co-op#:~:text=What%20is%20a%20CO%2DOP,on%2Dthe%2Djob%20training.\">or co-op<\/a>, courses are also reasonably common in parts of the US, Canada and the UK, notes El Kheshen.<\/p>\n<p><strong>Here, more partnerships between private sector firms and universities would help get this off the ground,<\/strong> Fahmy and Raouf say. They would increase the options for real-time learning \u2014 through meaningful internships, for example \u2014 and offer more chances for universities and companies to align their expectations when it comes to the skills students need in the labor market, they note.<\/p>\n<p><strong>There\u2019s also consensus that there should be a review of some aspects of Egypt\u2019s higher education framework.<\/strong> This could mean giving the public university Tansik system a shake-up, suggests Shalakany Senior Partner Moataz El Mahdy. Not all the many students who study law in Egypt\u2019s public university system do so through choice; instead, their study destination is determined by their grades in high school, according to the Tansik system. This puts enormous strain on public universities, and means students going through the public system often don\u2019t get the individual attention they need. It should be reviewed, El Mahdy argues. \u201cLaw should be a top faculty, and not one that accepts such a large number of students,\u201d he adds.<\/p>\n<p><strong>This change should also include looking at new assessment models:<\/strong> \u201cI don\u2019t want university grading to depend on an exam and that\u2019s it. Universities need to find more effective ways to assess and differentiate between students,\u201d Fahmy notes.<\/p>\n<p><strong>More sector-specific institutions could also give graduates a 360\u00b0 perspective of particular industries: <\/strong>While some Egyptian universities \u2014 like Helwan \u2014 have strong hotel and tourism faculties, hospitality as a sector is much broader than this, and students entering this field should be comprehensively educated on it, argues Tarek Nour, TBS General Manager. \u201cIf you join the hotel or tourism section of a university, you might be taught certain things, like how to make beds or cook a chicken. But students need to be taught about everything related to the supply chain \u2014 including customer service, food manufacturing, procurement, warehousing, hygiene, and accounting systems,\u201d Nour says.<\/p>\n<p><strong>Given Egypt\u2019s reliance on the hospitality sector, this kind of training is essential<\/strong>, Nour argues. \u201cI\u2019d love to be the Dean of the first Egyptian university fully dedicated to food manufacturing and restaurant management,\u201d he says. \u201cCurrently, we don\u2019t have any university in Egypt specifically focused on this important field, which represents a big part of the economy.\u201d<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top education stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Palm Hills Developments<\/strong> and an education provider will <strong>partner with Maastricht University<\/strong> to provide Badya University graduates <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c285d7e5-470e-491b-88a6-63e022ea2531\">with a supplementary certificate<\/a>from the Dutch university.<\/li>\n<li>The government is establishing <strong><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02AP5RP6qCQ4HWvYUbpHwYJpDAD3xqW8NKo5RgzMHbTm9bNKhPVop4NH85gty2bzCol\">12 private universities<\/a><\/strong>, with the first phase of the project expected to cost <strong>EGP 39 bn<\/strong>.<\/li>\n<li><strong>Future cooperation with Harvard Medical School: <\/strong>Higher Education Minister Khaled Abdel Ghaffar <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0ZY2yCXhwzPok4PWEKEDABFGX4LZ8W1rbGPAM3rfKjLhHA7674Qn9fNqrQzZBVjMcl\">held talks with Harvard University representatives<\/a>discussing the expansion of training programs provided to doctors.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/labor\/\">labor<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"548431\" 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\/08\/08\/548431\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548431\" class=\"content-area-description single-story post-548431 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>AUGUST<\/strong><\/p>\n<p>Late July-14 August: 2Q2022 earnings season.<\/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>9 August (Tuesday): The government hosts public consultations on its state ownership policy document with higher education players.<\/p>\n<p>11 August (Thursday): The government hosts public consultations on its state ownership policy document with experts and think tanks.<\/p>\n<p>14 August (Sunday): Retail portion of Ghazl El Mahalla IPO ends.<\/p>\n<p>14 August (Sunday): The government hosts public consultations on its state ownership policy document with finance and ins. players.<\/p>\n<p>16 August (Tuesday): The government hosts public consultations on its state ownership policy document with wood manufacturers.<\/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): The government hosts public consultations on its state ownership policy document with experts and think tanks.<\/p>\n<p>18 August (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>23 August (Tuesday): The government hosts public consultations on its state ownership policy document with chemical producers.<\/p>\n<p>25 August (Thursday): Second Egypt and UN-led regional climate roundtable ahead of COP27, Bangkok, Thailand.<\/p>\n<p>25 August (Thursday): The government hosts public consultations on its state ownership policy document with experts and think tanks.<\/p>\n<p>25-27 August (Thursday-Saturday): <a href=\"https:\/\/www.kansascityfed.org\/research\/jackson-hole-economic-symposium\/\">Jackson Hole Economic Symposium<\/a>.<\/p>\n<p>27 August (Saturday): The National Dialogue board of trustees holds its fifth meeting, which will set the agenda for the dialogue and choose rapporteurs for the involved committees.<\/p>\n<p>28 August (Sunday): The government hosts public consultations on its state ownership policy document with mining and petroleum refining players.<\/p>\n<p>30 August (Tuesday): The government hosts public consultations on its state ownership policy document with minerals players.<\/p>\n<p>31 August (Wednesday): <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a7f89a2f-4c16-45fd-be3d-952c1caf480f\">Late tax payment deadline<\/a>.<\/p>\n<p>31 August (Wednesday): Deadline for qualifying companies to <a href=\"\">submit offers<\/a>to manage and operate a soon-to-be-established state company for EV charging stations.<\/p>\n<p>31 August (Wednesday): Submission deadline for fall 2022 cycle of EGBank\u2019s Mint Incubator.<\/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>September: Egypt will <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/457255719778187\">host the second edition<\/a>of the Egypt-International Cooperation Forum (ICF).<\/p>\n<p>1 September (Thursday): The government hosts public consultations on its state ownership policy document with experts and think tanks.<\/p>\n<p>1-2 September (Thursday-Friday): Third Egypt and UN-led regional climate roundtable ahead of COP27, Santiago, Chile.<\/p>\n<p>4 September (Sunday): The government hosts public consultations on its state ownership policy document with electricity players.<\/p>\n<p>6 September (Tuesday): The government hosts public consultations on its state ownership policy document with building and construction players.<\/p>\n<p>6-9 September (Tuesday-Friday): Gate Travel Expo 2022, El Qubba 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>8 September (Thursday): The government hosts public consultations on its state ownership policy document with experts and think tanks.<\/p>\n<p>11 September (Sunday): The government hosts public consultations on its state ownership policy document with accommodation and food services players.<\/p>\n<p>13 September (Tuesday): The government hosts public consultations on its state ownership policy document with sports industry players.<\/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>15 September (Thursday): The government hosts public consultations on its state ownership policy document with water and sewage utilities players.<\/p>\n<p>15 September (Thursday): Fourth Egypt and UN-led regional climate roundtable ahead of COP27, Beirut, Lebanon.<\/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 September (Tuesday): Fifth Egypt and UN-led regional climate roundtable ahead of COP27, Geneva, Switzerland.<\/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>27-29 September (Tuesday-Thursday): <a href=\"https:\/\/invest-renewables.africa\/\">Africa Renewables Investment Summit<\/a> (ARIS), Cape Town, South Africa.<\/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>16-19 October (Sunday-Wednesday): <a href=\"https:\/\/www.cairowaterweek.eg\/\">Cairo Water Week 2022<\/a>, Nile Ritz Carlton, Cairo.<\/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>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 November (Monday): The inauguration of the first line of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e2356273-f17c-4a5b-a987-663aab9a2e29\">high-speed rail<\/a>.<\/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>13-15 February (Monday-Wednesday): The <a href=\"https:\/\/www.egyps.com\/\">Egypt Petroleum Show (Egyps)<\/a>, Egypt International Exhibition Center, Cairo.<\/p>\n<p><strong>MARCH 2023<\/strong><\/p>\n<p>March: 4Q2022 earnings season.<\/p>\n<p>23 March (Wednesday) \u2014 First day of Ramadan (TBC). Maghreb will be at 6:08pm CLT.<\/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>2H 2022: The inauguration of the Grand Egyptian Museum.<\/p>\n<p>2H 2022: <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>2H 2022: The government will have vaccinated 70% of the population.<\/p>\n<p>3Q 2022: Ayady\u2019s consumer financing arm, The Egyptian Company for Consumer Finance Services, to release its first financing product.<\/p>\n<p>3Q 2022: Swvl to close <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/53e17b15-78b9-421a-81f5-9d3d5ee0227d\">acquisition of<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/53e17b15-78b9-421a-81f5-9d3d5ee0227d\">Urbvan<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/53e17b15-78b9-421a-81f5-9d3d5ee0227d\">Mobility<\/a>.<\/p>\n<p>4Q 2022: Infinity + Africa Finance Corporation to close acquisition of Lekela Power.<\/p>\n<p>End of 2022: Decent Life first phase scheduled for completion.<\/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>1Q 2023: Adnoc Distribution\u2019s acquisition of 50% of TotalEnergies Egypt to close.<\/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":548407,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-548406","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"cbae9547-e62f-4a69-a8a4-7b57293c8684","teaser":"","photo_url":"https:\/\/ent.news\/2022\/8\/11.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>Mohamed Farid is the new head of the FRA - 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\/mohamed-farid-is-the-new-head-of-the-fra\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mohamed Farid is the new head of the FRA\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/mohamed-farid-is-the-new-head-of-the-fra\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T22:13:25+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/11.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\/mohamed-farid-is-the-new-head-of-the-fra\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/mohamed-farid-is-the-new-head-of-the-fra\/\",\"name\":\"Mohamed Farid is the new head of the FRA - 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