{"id":548955,"date":"2022-08-29T04:00:02","date_gmt":"2022-08-29T04:00:02","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=548955"},"modified":"2025-12-15T22:26:33","modified_gmt":"2025-12-15T22:26:33","slug":"take-our-fall-2022-reader-poll","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/take-our-fall-2022-reader-poll\/","title":{"rendered":"Take our fall 2022 reader poll"},"content":{"rendered":"<section id=\"548957\" 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=\"548957\">\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\/29\/this-morning-enterprise-climate-just-went-live-abdalla-madouly-talk-import-restrictions-and-the-qataris-might-be-interested-in-alex-containers-eastern-company\/\">\r\n                            THIS MORNING: Enterprise Climate just went live; Abdalla, Madouly talk import restrictions and the Qataris might be interested in Alex Containers + Eastern Company                        <\/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\/29\/this-morning-enterprise-climate-just-went-live-abdalla-madouly-talk-import-restrictions-and-the-qataris-might-be-interested-in-alex-containers-eastern-company\/\" 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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Abdalla, Madouly talk import restrictions and the Qataris might be interested in Alex Containers + Eastern Company&url=https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/this-morning-enterprise-climate-just-went-live-abdalla-madouly-talk-import-restrictions-and-the-qataris-might-be-interested-in-alex-containers-eastern-company\/\">\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\/29\/this-morning-enterprise-climate-just-went-live-abdalla-madouly-talk-import-restrictions-and-the-qataris-might-be-interested-in-alex-containers-eastern-company\/&title=THIS MORNING: Enterprise Climate just went live; Abdalla, Madouly talk import restrictions and the Qataris might be interested in Alex Containers + Eastern Company\">\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+Enterprise+Climate+just+went+live%3B+Abdalla%2C+Madouly+talk+import+restrictions+and+the+Qataris+might+be+interested+in+Alex+Containers+%2B+Eastern+Company+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F08%2F29%2Fthis-morning-enterprise-climate-just-went-live-abdalla-madouly-talk-import-restrictions-and-the-qataris-might-be-interested-in-alex-containers-eastern-company%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\/29\/this-morning-enterprise-climate-just-went-live-abdalla-madouly-talk-import-restrictions-and-the-qataris-might-be-interested-in-alex-containers-eastern-company\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548957\" class=\"content-area-description single-story post-548957 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-central-bank-of-egypt tag-climate tag-eastern-company tag-enterpriseam tag-ma-watch tag-moustafa-madbouly tag-policy tag-qatar tag-sameh-shoukry 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, nice people. <\/strong><\/p><p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>IT\u2019S A BIG DAY FOR\u2026 all of us here at Enterprise. <\/strong>Our first issue of Enterprise Climate went live a couple of hours ago. Readers of Enterprise Egypt will be getting copies for the coming week or two \u2014 and you can find us online at <a href=\"https:\/\/climate.enterprise.press\/\">climate.enterprise.press<\/a>. We\u2019d love to know what you think \u2014 reply to the issue or email me directly on <a href=\"mailto:patrick@enterprisemea.com\">patrick@enterprisemea.com<\/a>.<\/p><p><strong>Enterprise Climate is the essential Middle East and North Africa publication for senior <\/strong><strong>execs<\/strong> who work in or care about what we think is fast becoming the world\u2019s largest and most significant industry.<\/p><p><strong>Longtime readers know we\u2019ve been passionate about climate since we started publishing <\/strong><strong>in 2014. <\/strong>It\u2019s an industry that cuts across all of the others, from banking and finance to infrastructure, real estate, transport, construction, FMCG, urban planning, professional services and more. Look for us in your inboxes at 4am CLT \/ 5am KSA \/ 6am UAE, Monday through Thursday.<\/p><p><strong>***<\/strong><\/p><p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Take our <\/strong><strong><a href=\"https:\/\/www.surveymonkey.com\/r\/QDMBYCT\">Fall Reader Survey<\/a><\/strong><strong> today and we\u2019ll have the results for you in a <\/strong><strong>couple of weeks <\/strong>\u2014 just in time to give you a sense of what everyone else is thinking heading into budget season.<\/p><p><strong>How has 2022 been for your business? And how do you feel about what\u2019s left of<\/strong><strong> the <\/strong><strong>year? <\/strong>Are you investing? Do you plan to hire new staff (or make cuts to your existing staff) now or in 2023? What\u2019s the USD \/ EGP rate you expect to use for your 2023 budget? Where do you see your industry as a whole heading?<\/p><p><strong><a href=\"https:\/\/www.surveymonkey.com\/r\/QDMBYCT\">Let us know in our Fall Reader Survey.<\/a><\/strong> It won\u2019t take more than a few minutes to complete \u2014 and we\u2019ll be sharing the results with the entire community.<\/p><p><strong>***<\/strong><\/p><hr class=\"grey-line\"><p><strong>It\u2019s a slow news day (as is often the case late in August)<\/strong>, with no single story demanding your attention. We\u2019re still waiting to see what the central bank will (or won\u2019t) do with import restrictions. We\u2019re still waiting to see how far (if at all) Hassan Abdalla will let the EGP ease against the greenback. We\u2019re still waiting to see how talks with the IMF are going\u2026 You get the point.<\/p><p><strong>We\u2019re in a natural trough in the news cycle: <\/strong>Abdalla has been on the job for less than two weeks \u2014 and has made it clear he is working with cabinet and the team at the central bank to chart the best path forward. The loudest voice on this quiet news morning? Bloomberg, which is back with (yet another) piece on the need to devalue and \u201cstave off\u201d default, as we note in this morning\u2019s news well, below.<\/p><p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>WATCH THIS SPACE #1- Could the CBE move to loosen import restrictions <\/strong><strong>next week? <\/strong>Manufacturers may get a break if the central bank moves next week to allow additional raw materials to be imported outside of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f1237459-2827-438d-96c3-8fe7a8dce26e\">letters of credit system<\/a>, Mohamed Al Bahi, board member at the Federation of Egyptian Industries, told Salet El Tahrir (<a href=\"https:\/\/www.youtube.com\/watch?v=24tkcevIFd8\">watch, runtime: 4:54<\/a>) last night.<\/p><p><strong>Another sign a policy change could be imminent:<\/strong> This came on the same day that Central Bank of Egypt (CBE) Governor Hassan Abdalla met with Prime Minister Moustafa Madbouly to discuss plans to exempt certain imports \u2014 including raw materials and manufacturing essentials \u2014 from the L\/Cs system, according to <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0FbbtqrkkxwTjf2oYsiWEGG4kL1Z2N2eodLcqjf81Bitg8qtwByqAfKEeYm8pqjsil\">a cabinet statement<\/a>.<\/p><p><strong>Refresher: Madbouly is the latest in a number of key cabinet members to hold <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f87bd35b-2c1a-4286-a5ab-628ba462b0c7\">meetings<\/a><\/strong> <strong>with Abdalla in recent days<\/strong>, stoking expectations among business leaders that they may be looking for ways to ease the import restrictions that have hobbled everyone from manufacturers to retailers.<\/p><p><strong>CLARIFICATION-<\/strong> Hisham Ezz Al Arab\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/01172b08-339e-4a91-9a68-7cbd18e210b8\">recent remarks<\/a> to the international media regarding the expectation that CBE Governor Hassan Abdalla might \u201cgo faster\u201d on allowing the EGP to float against the greenback were made hours prior to his being named advisor to the governor. At the time, Hisham was not speaking in his capacity as an advisor.<\/p><hr class=\"grey-line\"><p><strong>THE PERFECT SIGN OF THE TIMES- The price of your morning cup of joe is getting more <\/strong><strong>expensive thanks to climate change + import restrictions:<\/strong> Coffee prices have doubled since last year to around USD 4k per container as climate change and import restrictions hit supply, Hassan Fawzy, head of the coffee division at the Cairo Chamber of Commerce, told Ala Mas\u2019ouleety last night (<a href=\"https:\/\/www.youtube.com\/watch?v=RG0_cmulcyE\">watch, runtime: 15:25<\/a>). Harsher climate conditions have affected harvests, pushing prices up, while <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f1237459-2827-438d-96c3-8fe7a8dce26e\">import restrictions<\/a> introduced by the central bank earlier this year have kept coffee shipments stuck in ports, he said.<\/p><hr class=\"grey-line\"><p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a><strong> WATCH THIS SPACE #2- Is the Qatar Investment Authority (QIA) eyeing <\/strong><strong>shares in Alex <\/strong><strong>Containers and Eastern Company?<\/strong> That\u2019s what a couple of local outlets reported yesterday, citing sources they claim are familiar with the matter. The Gulf country\u2019s sovereign wealth fund is reportedly interested in purchasing a 10-20% stake in Alex Containers held by the Maritime Transport Holding Company. The sources did not disclose figures for Eastern Company, but said that talks were ongoing with the company\u2019s majority shareholder, Chemical Industries Holding (CIHC), and that an agreement would be finalized in the coming days. <strong>A<\/strong><strong> senior official a<\/strong><strong>t CIHC we reached out to yesterday denied knowledge of the talks<\/strong> and said the company does not have plans to sell any of its shares.<\/p><p><strong>ADVISORS-<\/strong> Matouk Bassiouny &amp; Hennawy is reportedly providing legal advice to the QIA while Baker &amp; McKenzie are counsel to the government, the sources said.<\/p><p><strong>WHAT\u2019S HAPPENING TODAY- <\/strong><\/p><p><strong>Foreign Minister and COP27 President Sameh Shoukry is in Gabon to participate <\/strong><strong>in the United Nations\u2019 <\/strong><strong><a href=\"https:\/\/www.un.org\/en\/climatechange\/2022-africa-climate-week\">Africa Climate Week<\/a><\/strong>, which runs from today to Thursday, the Foreign Ministry <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/pfbid02f5foiJukA5h8FhejbWEhjD5TTWegJMZvpQs6Vh7QYsQaskwDRU6eLGtjRQBteCFFl\">said<\/a> yesterday. Shoukry is also set to meet with senior Gabonese officials, the statement said.<\/p><p><strong>THE BIG STORY ABROAD-<\/strong><\/p><p><strong>The global financial press are focused on what looks to be another bad day in the <\/strong><strong>financial markets<\/strong> as the sell-off that accompanied Fed chair Jerome Powell\u2019s hawkish speech last week continues to hit investor confidence. Futures for the S&amp;P 500 and Nasdaq fell more than 1% this morning while Asian markets were heavily in the red, with the Nikkei tumbling almost 3%, the Kospi losing 2.3% and the ASX down 2.1%. The sell-off in the US bond market also continued, pushing two-year yields to their highest level since 2007. (<a href=\"https:\/\/www.reuters.com\/markets\/europe\/global-markets-wrapup-1-pix-2022-08-29\/\">Reuters<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-08-28\/us-futures-sink-stocks-set-to-slide-post-powell-markets-wrap?srnd=premium&amp;sref=mmeFTDW1\">Bloomberg<\/a> | <a href=\"https:\/\/www.cnbc.com\/2022\/08\/28\/stock-market-news-futures-open-to-close-live-updates.html\">CNBC<\/a>)<\/p><p><strong>CLOSER TO HOME- <\/strong><strong>The UN called for an immediate ceasefire after clashes between rival Libyan <\/strong><strong>factions left 32 people dead<\/strong> and another 159 wounded in Tripoli, <a href=\"https:\/\/www.reuters.com\/world\/africa\/libyas-tripoli-quiet-after-worst-fighting-two-years-2022-08-28\/\">Reuters<\/a> reports.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p><strong>THE LONG VIEW- <\/strong><\/p><p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Inflation is going to be very difficult to bring down and we may not have the tools <\/strong><strong>to do it:<\/strong> That\u2019s the gloomy post-Jackson Hole message offered to the <a href=\"https:\/\/www.ft.com\/content\/b71e259f-f2f0-4e25-bd22-0dbd0f344643\">Financial Times<\/a> by some of the world\u2019s leading central bankers and economists, who say that the challenge of bringing down soaring inflation could be the biggest faced by policymakers in decades. \u201cAt least over the next five years, monetary policymaking is going to be much more challenging than it was in the two decades before the pandemic struck,\u201d Gita Gopinath, deputy managing director of the IMF, told the salmon-colored paper. \u201cWe are in an environment where supply shocks are going to be more volatile than we\u2019ve been used to, and that\u2019s going to generate more costly trade-offs for monetary policy.\u201d<\/p><p><strong>Raising interest rates alone might not be enough to bring down inflation<\/strong>, as supply chain disruptions, commodity shocks due to the Russia-Ukraine war, and a post-covid demand recovery keep the pressure on. This potentially leaves central banks without the tools needed to address the crisis, said World Bank president David Malpass. \u201cYou\u2019re hiking rates in the hope of reducing inflation, but it is being counteracted by so much friction within the supply chain and production cycle.\u201d<\/p><p><strong>ICYMI- <\/strong><\/p><p><strong>Missed this week\u2019s Inside Industry? <\/strong>In our weekly vertical exploring all things industry and manufacturing, we looked at what manufacturers and industry players <a href=\"https:\/\/enterprise.press\/industries\/the-biggest-policy-issues-facing-the-new-trade-and-industry-minister-according-to-manufacturers\/\">are hoping<\/a> will be the policy priorities for recently-appointed Trade and Industry Minister Ahmed Samir.<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>The <\/strong><strong><a href=\"https:\/\/www.awieforum.org\/awief-conference-2022\/\">Africa Women Innovation and Entrepreneurship Forum (AWEIF)<\/a><\/strong><strong> is taking <\/strong><strong>place in Cairo for the first time on 26-27 September<\/strong>, according to a <a href=\"https:\/\/ent.news\/2022\/8\/AWIEF2022_Press-release_Speaker-announcement.pdf\">press release (pdf)<\/a>. The hybrid event will bring together more than 60 African and global policy and business experts to discuss how gender integration can boost SME growth.<\/p><p><strong>Egypt\u2019s National Organization for Social Ins. (NOSI) will participate in the <\/strong><strong><a href=\"https:\/\/www.events.fintechrobos.com\/\">Arab<\/a><\/strong><strong><a href=\"https:\/\/www.events.fintechrobos.com\/\">Pensions and Social Insurance Conference<\/a><\/strong> on 28-29 September in Sharm El Sheikh, a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0o1Z5JVifGtK8NwPZFNKgiobbZ6J9inroYftENx8XDnsYTP31oethW3cZWNFVuJ4hl\">statement<\/a>by NOSI read. The conference will bring together social ins. organizations and public and private pension providers to discuss widening coverage through region-wide pension reform.<\/p><p><strong>PSA #1- Your deadline to catch a 65% break off late payment fines for your taxes is coming up this Wedn<\/strong><strong>esday, 31 August.<\/strong> The waiver applies to late payment fees for customs tariffs, income, real estate, and sales taxes, VAT, and stamp duties among others. The remaining 35% of your due payments will need to be paid before next March.<\/p><p><strong>PSA #2- Exporters have until 15 September to apply to join the fifth phase of FinMin\u2019s <\/strong><strong>export subsidy <\/strong><strong>program<\/strong>, according to a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02AWBp1x22cds9iyFD5BqLzZmAeuPYAjEMRAD1qh62r2UtFBKmTG79hZzaMXhwhuE9l\">statement<\/a>. Cabinet has given its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ba04bffd-50ad-4e42-8b96-db3a73019c1d\">approval<\/a> to pay a total EGP 10 bn out to exporters, with payments to be made on 1 October and 1 December. The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a07e57d5-42b9-4637-9eb3-da04e571f92e\">program<\/a> allows exporters to receive overdue subsidies in a single payment rather than in installments over four to five years, in return for a haircut.<\/p><p><strong>Ration card holders<\/strong> now have until <strong>30 September<\/strong> to register their mobile numbers to their cards, in a move meant to make it easier for the Supply Ministry to contact them, the ministry said in <a href=\"https:\/\/www.facebook.com\/msitgovegypt\/posts\/pfbid0JpEzcyxVi2eXLFiuvNS7Zakyg7UsefcK4CY2iGeRtTYokTJm684rF6JquoyLctk8l\">a statement<\/a> yesterday.<\/p><p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/CIRA-Blackboard-Banner-B.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. Blackboard appears every Monday in Enterprise in the place of our traditional industry news roundups.<\/p><p><strong>In today\u2019s issue:<\/strong> Last week, stakeholders in the higher education sector in consultations with the government on its privatization strategy. The broad sentiment is that the sector is faring well, with healthy competition between public and private players, although public universities could learn a few things from their private counterparts to put forward a higher quality of education, our sources tell us.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/climate\/\">Climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eastern-company\/\">Eastern Company<\/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\/moustafa-madbouly\/\">Moustafa Madbouly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/policy\/\">policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qatar\/\">Qatar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sameh-shoukry\/\">Sameh Shoukry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"548958\" 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=\"548958\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/548958\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548958\" class=\"content-area-description single-story post-548958 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.ticketsmarche.com\/tickets\/buy-tickets-2-cellos.html\"><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>2CELLOS - LIVE AT SOMABAY: <\/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. <a href=\"https:\/\/www.ticketsmarche.com\/tickets\/buy-tickets-2-cellos.html\">Book your ticket here<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548959\" 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=\"548959\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/bloomberg-beats-the-drum-hard-on-the-need-for-devaluation\/\">\r\n                            Bloomberg beats the drum (hard) on the need for devaluation                        <\/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\/29\/bloomberg-beats-the-drum-hard-on-the-need-for-devaluation\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            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data-attachment-id=\"548960\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/bloomberg-beats-the-drum-hard-on-the-need-for-devaluation\/424-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/424.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"424.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/424.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/424.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548959\" class=\"content-area-description single-story post-548959 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-bonds tag-central-bank-of-egypt tag-debt tag-economy tag-egp tag-emerging-markets tag-enterpriseam tag-foreign-reserves tag-hassan-abdalla tag-imf wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>\u201c<\/strong><strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-08-28\/default-jitters-stalk-egypt-sending-traders-on-a-wild-ride\">Default jitters stalk Egypt, sending traders on a wild ride<\/a><\/strong><strong>.\u201d That\u2019s the <\/strong><strong>headline this morning atop the latest from Bloomberg, which has been beating the drum (hard) on the need for devaluation<\/strong> for the better part of a month (\u201c<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-08-09\/only-way-is-down-for-egyptian-currency-and-question-is-how-much\">only way is down<\/a>,\u201d \u201c<a href=\"https:\/\/www.bloomberg.com\/news\/newsletters\/2022-08-15\/egypt-pound-devaluation-debate-saudi-billionaire-s-russia-bet-aramco-s-record?sref=mmeFTDW1\">currency urgency<\/a>,\u201d and \u201c<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-08-16\/currency-drama-in-egypt-has-investors-clamoring-for-devaluation\">currency standoff \u2026 deepens<\/a>,\u201d and \u201c<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-08-17\/egypt-s-central-bank-governor-amer-resigns-ahram-reports\">shock resignation<\/a>\u201d). The story is out a little more than a day after Prime Minister Moustafa Madbouly said talks with the IMF on a new facility are <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/749b35e6-ac62-4dbd-8826-5b09c99fdfad\">in the \u201cfinal stages.\u201d<\/a><\/p>\n<p><strong>While the piece quotes Oxford Economics Africa on the need to \u201cstave off default,\u201d the <\/strong><strong>tone evens out a bit later: <\/strong><\/p>\n<ul>\n<li>\u201c<strong>Egypt is not Sri Lanka \u2014 it has much higher reserve buffers and much better <\/strong><strong>financing options going forward<\/strong>,\u201d said Matthew Vogel, London-based portfolio manager and head of sovereign research at FIM Partners. \u201cEgypt\u2019s problem is manageable with tighter policies and official creditor support.\u201d<\/li>\n<li><strong>\u201cThe IMF isn\u2019t a make or break default scenario,\u201d<\/strong> said Todd Schubert, head of fixed-income research at Bank of Singapore. \u201cRather, it would be a confidence builder and be a catalyst for another leg up in pricing to the point that when the EM market does open up, they could conceivably tap the offshore dollar bond markets.\u201d<\/li>\n<\/ul>\n<p><strong>So should we be concerned? Yup. But is it time to don lifejackets and head for the exits? <\/strong><strong>Nope. <\/strong><\/p>\n<p><strong>Catch up quick:<\/strong> Egypt\u2019s external position is coming under significant pressure this year thanks to a perfect storm of surging commodity prices, rising interest rates, a red-hot greenback and turmoil in the financial markets. Investors have pulled at least USD 20 bn from the country, the current account deficit is widening, and pressure has built on the EGP to the point that policymakers appear to be accepting that more flexibility is in the cards.<\/p>\n<p><strong>How much debt are we talking about, anyway?<\/strong> The country currently has more than USD 5 bn USD- and EUR-denominated securities to pay off in 4Q 2022 and another USD 9 bn maturing in 2023, according to data compiled by Bloomberg. The business newswire\u2019s emerging-markets economist, Ziad Daoud, <a href=\"https:\/\/twitter.com\/ziadmdaoud\/status\/1555102865592651777\">has estimated<\/a> that Egypt will currently need around USD 41 bn to cover debt repayments and its current account deficit through to the end of 2023. Foreign reserves are currently at around <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b83f7b83-62a3-4572-8a67-2d8ca7599bd0\">USD 33.1 bn<\/a>.<\/p>\n<p><strong>The probability of the government failing to repay its debt has jumped to its highest since <\/strong><strong>2013, according to a Bloomberg model<\/strong>. This has caused the spread between Egyptian bonds and US treasuries to rise above 1.2k bps for the first time on record, Bloomberg says, citing JP Morgan data and adding that the cost of insuring against an Egyptian default hit an all-time of 1.5k bps last month, before sliding to 940 bps by the end of last week.<\/p>\n<p><strong>The EGP is down 21.9% since the devaluation in March<\/strong>, slipping further yesterday to 19.24 against the USD and edging closer to a record low. Markets are currently pricing in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cc358ff9-00be-4503-bee9-00159279bfb6\">another 22% decline<\/a> over the next year.<\/p>\n<p><strong>Absent an IMF facility, FX reserves could stabilize in the near-term:<\/strong> Moody\u2019s Investors Service expects our reserves to stabilize and see a gradual rise on the back of higher non-oil exports and a recovery in foreign inflows. Non-oil exports have already seen a <a href=\"https:\/\/enterprise.press\/industries\/non-oil-exports-rose-20-y-o-y-1h2022\/\">20% y-o-y increase<\/a> in the first half of the year to USD 19.35 bn. This comes after foreign reserves <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b83f7b83-62a3-4572-8a67-2d8ca7599bd0\">declined by almost 20%<\/a> amid current market conditions.<\/p>\n<p><strong>Rebuilding reserves and addressing FX flexibility are <\/strong><strong>priorities for the new CBE <\/strong><strong>governor: <\/strong>Speculation is growing that the new CBE governor, Hassan Abdalla, will allow the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7f4ba0d7-8458-48a8-af05-3a4d44fdbda3\">EGP to depreciate further<\/a> against the USD to ease the pressure. Abdalla\u2019s adviser, banking veteran Hisham Ezz Al Arab, told Reuters <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/01172b08-339e-4a91-9a68-7cbd18e210b8\">just hours before he found out he was being named advisor<\/a> that he expected Abdalla to go \u201cmuch faster\u201d currency adjustment than his predecessor Tarek Amer, \u201cnot a sudden devaluation like Tarek did, [rather] a faster pace.\u201d<\/p>\n<p><strong>Abdalla\u2019s appointment seems to have calmed the local bond market:<\/strong> Yields on Egyptian three-month treasuries fell for the first time yesterday since May, shedding nearly five points to 16.1% in an auction, which some market participants attributed to Abdalla\u2019s appointment. \u201cThe decline, even if it was slight, comes after the meeting of the central bank governor with the heads of banks last week,\u201d one fixed-income trader told <a href=\"https:\/\/www.asharqbusiness.com\/article\/41146\">Bloomberg Asharq<\/a>.<\/p>\n<p><strong>Distress is an EM thing right now:<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/005f7bf8-8ca8-471f-ba41-596b2bb2a954\">Almost a fifth<\/a> of all emerging market sovereign debt was trading at distressed levels in July. Investors are studying Egypt\u2019s case as a benchmark and indicator for how the rest of the EM debt scene will turn out, Bloomberg writes.<\/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\/bonds\/\">Bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/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\/egp\/\">EGP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-reserves\/\">foreign reserves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hassan-abdalla\/\">Hassan Abdalla<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548961\" 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=\"548961\">\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\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/ghazl-el-mahallas-micro-ipo-misfires-in-extra-time\/\">\r\n                            Ghazl El Mahalla\u2019s micro-IPO misfires in extra time                        <\/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\/29\/ghazl-el-mahallas-micro-ipo-misfires-in-extra-time\/\" 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\/29\/ghazl-el-mahallas-micro-ipo-misfires-in-extra-time\/')\">\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\/29\/ghazl-el-mahallas-micro-ipo-misfires-in-extra-time\/\">\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=Ghazl El Mahalla\u2019s micro-IPO misfires in extra time&url=https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/ghazl-el-mahallas-micro-ipo-misfires-in-extra-time\/\">\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\/29\/ghazl-el-mahallas-micro-ipo-misfires-in-extra-time\/&title=Ghazl El Mahalla\u2019s micro-IPO misfires in extra time\">\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=Ghazl+El+Mahalla%E2%80%99s+micro-IPO+misfires+in+extra+time+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F08%2F29%2Fghazl-el-mahallas-micro-ipo-misfires-in-extra-time%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\/29\/ghazl-el-mahallas-micro-ipo-misfires-in-extra-time\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/425.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"548962\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/ghazl-el-mahallas-micro-ipo-misfires-in-extra-time\/425-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/425.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"425.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/425.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/425.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548961\" class=\"content-area-description single-story post-548961 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-egx tag-enterpriseam tag-ghazl-el-mahalla tag-ipo-watch tag-prime-holding wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Retail investors put in <\/strong><strong>orders for just 18% of the shares made available to <\/strong><strong>the public in Ghazl El Mahalla FC\u2019s mico-IPO<\/strong> when the subscription period ended yesterday after multiple extensions. That means the football club will not be making its debut on the EGX as planned. By market close yesterday, Ghazl El Mahalla had received bids for 17.6 mn of the 98 mn shares up for grabs in the IPO\u2019s retail portion, according to an EGX <a href=\"https:\/\/ent.news\/2022\/8\/Ghazlelmahallaretail-August28.jpg\">bulletin<\/a>.<\/p>\n<p><strong>Refresher:<\/strong> Ghazl El Mahalla was seeking to raise EGP 135 mn by selling a 67.5% stake in the EGX. The club raised <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/727ce837-9698-4a14-a182-ef81d397c9a0\">EGP 37 mn<\/a> during the institutional component of the offering in November and had looked to sell 98 mn shares at EGP 1.02 each in the retail portion of the IPO, which had been set to wrap at the start of July but was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/be4dfabc-04c6-46bf-ac9a-5fc1f879312e\">extended twice<\/a> due to weak investor interest.<\/p>\n<p><strong>What happens now?<\/strong> In the event that the public portion of the offering wasn\u2019t fully covered, bidders would have one week to decide whether they want their money refunded or if they\u2019d like to remain as private shareholders until the company eventually gets listed, Mohamed Maher, CEO of bookrunner Prime Holdings, told us when we spoke to him recently. The firm plans to wait until mid-2023 before they restart the listing process, he said. \u201cWe may change our strategy next time and include a strategic investor,\u201d Maher said. Prime did not return requests for comment yesteday.<\/p>\n<p><strong>It\u2019s a challenging time for new listings:<\/strong> Inflationary pressures, rising interest rates, and a downturn in global markets have all contributed to a steep decline in the EGX 30 this year. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/004a2209-c482-4067-af0e-5ba87566e2d4\">Banque du Caire<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6bafb238-9ada-4c08-9846-30e51c6203ef\">Aman<\/a> have both postponed plans to sell shares on the bourse amid a downturn which has left the benchmark index down 15.6% from its recent peak in January.<\/p>\n<p><strong>Don\u2019t let the size fool you:<\/strong> Although tiny, the IPO\u2019s significance was in the fact that it could have encouraged other clubs (namely <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e353e401-9cdc-41c4-b421-29d9f5246904\">Al Ahly<\/a>) to follow suit and go public.<\/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\/ghazl-el-mahalla\/\">Ghazl El Mahalla<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/prime-holding\/\">Prime Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548963\" 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=\"548963\">\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\">A MESSAGE FROM<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/548963\/\">\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\/29\/548963\/\" 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\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=\"548965\" 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=\"548965\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/saas-startup-zeew-to-up-headcount-following-usd-630k-seed-round\/\">\r\n                            SaaS startup Zeew to up headcount following USD 630k seed round                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/saas-startup-zeew-to-up-headcount-following-usd-630k-seed-round\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/saas-startup-zeew-to-up-headcount-following-usd-630k-seed-round\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/saas-startup-zeew-to-up-headcount-following-usd-630k-seed-round\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=SaaS startup Zeew to up headcount following USD 630k seed round&url=https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/saas-startup-zeew-to-up-headcount-following-usd-630k-seed-round\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/saas-startup-zeew-to-up-headcount-following-usd-630k-seed-round\/&title=SaaS startup Zeew to up headcount following USD 630k seed round\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=SaaS+startup+Zeew+to+up+headcount+following+USD+630k+seed+round+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F08%2F29%2Fsaas-startup-zeew-to-up-headcount-following-usd-630k-seed-round%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/saas-startup-zeew-to-up-headcount-following-usd-630k-seed-round\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548965\" class=\"content-area-description single-story post-548965 post type-post status-publish format-standard hentry category-startup-watch tag-e-commerce tag-enterpriseam tag-sharwa tag-startup-watch tag-startups tag-zeew wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Egypt-headquartered<\/strong><strong> SaaS startup <\/strong><strong><a href=\"https:\/\/zeew.eu\/\">Zeew<\/a><\/strong><strong> secured USD <\/strong><strong>630k in a seed round <\/strong>led by <a href=\"https:\/\/welcome.plugandplaytechcenter.com\/ultimate-innovation-platform?utm_source=google&utm_medium=search&utm_campaign=mkg-google-search-corp-emea-branded&utm_adgroup=Brand&utm_id=17441123743&gclid=CjwKCAjwgaeYBhBAEiwAvMgp2pq_bEqn5Hc0Dk1bYawRDuZVPqNej_n41BSIvLgdHdEp26BDsuGL_xoCGlEQAvD_BwE\">Plug and Play Ventures<\/a>, <a href=\"https:\/\/www.parp.gov.pl\/component\/site\/site\/en-poland-prize#:~:text=Poland%20Prize%20is%20a%20programme,into%20the%20Polish%20startup%20ecosystem.\">Poland Prize<\/a> and a number of angel investors, founder and CEO Mohamed Ghaith (<a href=\"https:\/\/www.linkedin.com\/in\/mohamedghaith\/\">LinkedIn<\/a>) told Enterprise, confirming news first reported by <a href=\"https:\/\/www.wamda.com\/2022\/08\/egypts-zeew-raises-630000-seed\">Wamda<\/a>.<\/p>\n<p><strong>About Zeew: <\/strong>Founded by Ghaith in 2017, Zeew\u2019s software helps companies in sectors like F&B, pharma, and logistics to launch their own on-demand delivery businesses. The round brings the startup\u2019s funding total to USD 1 mn to date.<\/p>\n<p><strong>The company will use the funding to increase its headcount:<\/strong> \u201cCurrently our systems are being used in 100 countries and with the funding we plan to grow our team, technology and customer base,\u201d Ghaith told Enterprise.<\/p>\n<p><strong>OTHER STARTUP NEWS-<\/strong> Local social commerce platform <strong><a href=\"https:\/\/sharwa.io\/\">Sharwa<\/a><\/strong> has launched its<strong> mobile app <\/strong>after recently closing a funding round, it said in <a href=\"https:\/\/bit.ly\/3ATPdAj\">a statement<\/a> yesterday. The Cairo-based startup announced this month that it had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c0547248-f035-41db-9c17-f7139c317f07\">raised USD 2 mn<\/a> in a pre-seed round co-led by Nuwa Capital and Hambro Perks\u2019 Oryx Fund.<\/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\/e-commerce\/\">e-commerce<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sharwa\/\">Sharwa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/zeew\/\">Zeew<\/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=\"548966\" 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=\"548966\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/zealpay-appoints-new-managing-director\/\">\r\n                            ZealPay appoints new managing director                        <\/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\/29\/zealpay-appoints-new-managing-director\/\" 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\/29\/zealpay-appoints-new-managing-director\/')\">\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\/29\/zealpay-appoints-new-managing-director\/\">\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=ZealPay appoints new managing director&url=https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/zealpay-appoints-new-managing-director\/\">\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\/29\/zealpay-appoints-new-managing-director\/&title=ZealPay appoints new managing director\">\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=ZealPay+appoints+new+managing+director+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F08%2F29%2Fzealpay-appoints-new-managing-director%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\/29\/zealpay-appoints-new-managing-director\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548966\" class=\"content-area-description single-story post-548966 post type-post status-publish format-standard hentry category-moves tag-enterpriseam tag-moves tag-startups tag-zealpay wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Local e-payments, loyalty and data analytics startup <strong><a href=\"https:\/\/zeal-app.com\/\">ZealPay<\/a><\/strong> has appointed <strong>Sherif Abdou<\/strong> (<a href=\"https:\/\/www.linkedin.com\/in\/sherif-abdou-mba-a15b6183\/\">LinkedIn<\/a>) as managing director, according to a <a href=\"https:\/\/ent.news\/2022\/8\/PR-ZealPay-new-MD-En.docx.pdf\">press release (pdf)<\/a>. Abdou has more than two decades of experience in the telecoms sector and joins the company after spending 18 years at Vodafone, most recently serving as head of commercial operations for Vodafone Cash e-wallets at the company\u2019s business in Egypt. He will oversee ZealPay\u2019s expansion plans in the EMEA region and shape strategy for new data-driven loyalty solutions in the local market.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/zealpay\/\">Zealpay<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548967\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"548967\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/548967\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548967\" class=\"content-area-description single-story post-548967 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.sodic.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/Sodic-25_DESIGNS_1600x1600.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548968\" 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=\"548968\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/monetary-policy-continued-to-top-the-business-agenda-on-the-talk-shows-last-night\/\">\r\n                            Monetary policy continued to top the business agenda on the talk shows last night                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/monetary-policy-continued-to-top-the-business-agenda-on-the-talk-shows-last-night\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/monetary-policy-continued-to-top-the-business-agenda-on-the-talk-shows-last-night\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/monetary-policy-continued-to-top-the-business-agenda-on-the-talk-shows-last-night\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Monetary policy continued to top the business agenda on the talk shows last night&url=https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/monetary-policy-continued-to-top-the-business-agenda-on-the-talk-shows-last-night\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/monetary-policy-continued-to-top-the-business-agenda-on-the-talk-shows-last-night\/&title=Monetary policy continued to top the business agenda on the talk shows last night\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Monetary+policy+continued+to+top+the+business+agenda+on+the+talk+shows+last+night+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F08%2F29%2Fmonetary-policy-continued-to-top-the-business-agenda-on-the-talk-shows-last-night%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/monetary-policy-continued-to-top-the-business-agenda-on-the-talk-shows-last-night\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548968\" class=\"content-area-description single-story post-548968 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-central-bank-of-egypt tag-enterpriseam tag-hassan-abdalla tag-last-nights-talk-shows tag-moustafa-madbouly tag-population-growth tag-subsidies tag-trade wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The talking heads are going deep on the potential loosening of import restrictions: <\/strong>Prime Minister Moustafa Madbouly\u2019s sit-down with CBE governor Hassan Abdalla got a lot of attention from the talking heads, with Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=7EkWqCAMNI0\">watch, runtime: 4:10<\/a>) and Salet El Tahrir (<a href=\"https:\/\/www.youtube.com\/watch?v=24tkcevIFd8\">watch, runtime: 4:54<\/a>) discussing the meeting and what it means for monetary policy moving forward. We have more on their sit-down in this morning\u2019s What We\u2019re Tracking Today section, above.<\/p>\n<p><strong>Optimistic about the shakeup at the CBE: <\/strong>\u201cI believe that someone like Hassan Abdalla, who\u2019s had a lot of experience in the banking industry leading this file\u2026 is capable of leading this crucial file alongside his advisors, like Hisham El Ezz Arab, who also has a good history with management experience,\u201d Mohamed Al Bahi, board member at the Federation of Egyptian Industries, told Salet El Tahrir.<\/p>\n<p><strong>The government will spend an additional EGP 833 mn a year on <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9ab18811-37ac-49ff-a508-4188cc7820cc\">additional support<\/a><\/strong><strong> for ration card holders<\/strong> that will come into effect on 1 September, Supply Ministry spokesperson Ahmed Kamal told Ala Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=5zOdDLkORsE\">watch, runtime: 4:01<\/a>). Some 36 mn individuals will benefit from the new measures, he added.<\/p>\n<p><strong>Egypt\u2019s population explosion also got some attention on the airwaves:<\/strong> The country\u2019s population is growing 4x faster than is world\u2019s most populous country, China, Amr Hassan, former secretary-general of the National Population Council, told Ala Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=0_50sOGwRIQ\">watch, runtime: 3:48<\/a> | <a href=\"https:\/\/www.youtube.com\/watch?v=teAAdq3g5RQ\">4:14<\/a>). We\u2019re currently ranked 14th in the world in terms of population size, and we will likely be in 11th place by 2050, Hassan said.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/hassan-abdalla\/\">Hassan Abdalla<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moustafa-madbouly\/\">Moustafa Madbouly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/population-growth\/\">population growth<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/subsidies\/\">subsidies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/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=\"548969\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF 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draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-mksu75k\" data-v=\"4\" data-block-id=\"mksu75k\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-mksu75k-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-mksu75k-inner-blocks\">\r\n            <div 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class=\"stk-block-content stk-inner-blocks stk-w6yvsg1-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-huv0ks0\" data-v=\"4\" data-block-id=\"huv0ks0\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-huv0ks0-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-huv0ks0-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548970\" 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=\"548970\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/us-border-agents-seize-thousand-year-old-egyptian-artifact\/\">\r\n                            US border agents seize thousand-year-old Egyptian artifact                        <\/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\/29\/us-border-agents-seize-thousand-year-old-egyptian-artifact\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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href=\"https:\/\/x.com\/intent\/post?text=US border agents seize thousand-year-old Egyptian artifact&url=https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/us-border-agents-seize-thousand-year-old-egyptian-artifact\/\">\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\/29\/us-border-agents-seize-thousand-year-old-egyptian-artifact\/&title=US border agents seize thousand-year-old Egyptian artifact\">\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=US+border+agents+seize+thousand-year-old+Egyptian+artifact+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F08%2F29%2Fus-border-agents-seize-thousand-year-old-egyptian-artifact%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\/29\/us-border-agents-seize-thousand-year-old-egyptian-artifact\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548970\" class=\"content-area-description single-story post-548970 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-ancient-egypt tag-enterpriseam tag-gender tag-history tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Ancient Egypt is making news internationally this morning<\/strong> after US customs agents seized what could be a 3k-year-old ancient Egyptian artifact shipped from Europe. Homeland security is now examining the find. (<a href=\"https:\/\/apnews.com\/article\/science-memphis-archaeology-8f978ccc03d278e160bb90152607ab92\">Associated Press<\/a>)<\/p>\n<p><strong>Two Egypt exhibitions stateside are getting attention<\/strong><strong>:<\/strong> The National Geographic Museum in Washington is marking the centennial anniversary of the discovery of King Tut\u2019s tomb, and the Worcester Art Museum in Massachusetts is exhibiting ancient Egyptian artifacts and jewelry collected by twentieth-century Western \u201cEgyptomaniacs.\u201d (<a href=\"https:\/\/www.thenationalnews.com\/weekend\/2022\/08\/26\/beyond-king-tut-national-geographic-marks-100th-anniversary-of-tomb-discovery\/\">The National<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/jewels-of-the-nile-egyptian-treasures-from-the-worcester-art-museum-review-style-on-the-nile-11661598001\">WSJ<\/a>)<\/p>\n<p><strong>Also making headlines: <\/strong><\/p>\n<ul>\n<li><strong>Electricity for reserves:<\/strong> The government\u2019s move to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/34592f12-233d-4901-ae0a-b210c9ca855e\">ration electricity<\/a> to export more gas and bolster foreign reserves gets more international ink. (<a href=\"https:\/\/www.france24.com\/en\/live-news\/20220828-egypt-dims-lights-to-boost-foreign-reserves\">AFP<\/a>)<\/li>\n<li><strong>The Nile is getting international plaudits:<\/strong> The Nile river has made a list of top places to explore by boat. (<a href=\"https:\/\/www.ft.com\/content\/b58e0a55-0fd1-48f7-9733-b3e5c11fa5d7\">FT<\/a>)<\/li>\n<li><strong>Hijabi women continue to face discrimination in Egypt: <\/strong>A BBC investigation found that veiled women are being refused entry to high-end Cairo cafes and restaurants. (<a href=\"https:\/\/www.bbc.com\/news\/world-middle-east-62678403\">BBC<\/a>)<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ancient-egypt\/\">Ancient Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gender\/\">gender<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/history\/\">History<\/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=\"548971\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"548972\" 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=\"548972\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/hassan-allam-lands-another-toshka-contract-more-wheat-courtesy-of-romania\/\">\r\n                            Hassan Allam lands another Toshka contract + More wheat, courtesy of Romania                        <\/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\/29\/hassan-allam-lands-another-toshka-contract-more-wheat-courtesy-of-romania\/\" 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\/29\/hassan-allam-lands-another-toshka-contract-more-wheat-courtesy-of-romania\/')\">\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\/29\/hassan-allam-lands-another-toshka-contract-more-wheat-courtesy-of-romania\/\">\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=Hassan Allam lands another Toshka contract + More wheat, courtesy of Romania&url=https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/hassan-allam-lands-another-toshka-contract-more-wheat-courtesy-of-romania\/\">\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\/29\/hassan-allam-lands-another-toshka-contract-more-wheat-courtesy-of-romania\/&title=Hassan Allam lands another Toshka contract + More wheat, courtesy of Romania\">\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=Hassan+Allam+lands+another+Toshka+contract+%2B+More+wheat%2C+courtesy+of+Romania+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F08%2F29%2Fhassan-allam-lands-another-toshka-contract-more-wheat-courtesy-of-romania%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\/29\/hassan-allam-lands-another-toshka-contract-more-wheat-courtesy-of-romania\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548972\" class=\"content-area-description single-story post-548972 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-commodities tag-electricity tag-elsewedy-electric tag-enppi tag-enterpriseam tag-hassan-allam-holding tag-infrastructure tag-irrigation tag-madkour tag-new-delta tag-oil-and-gas tag-petrojet tag-wheat wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Hassan Allam Construction to work on Toshka irrigation project:<\/strong> Hassan Allam Construction, a subsidiary of Hassan Allam Holding, has been awarded a contract to install irrigation infrastructure as part of the project to reclaim land in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9b4070c4-107a-4218-85fa-b07f8daf5c35\">Toshka<\/a> for wheat production, the company said in <a href=\"https:\/\/www.hassanallam.com\/media-centre\/News\/details\/New-Zone-in-Toshka-Land-Reclamation\">a statement<\/a> last week. Under the contract, the company will build 124 km of irrigation infrastructure for a new zone which aims to turn 16k feddans of desert into agricultural land. The reclaimed land will be planted largely with wheat as part of the Sisi administration\u2019s drive to reduce reliance on imports.<\/p>\n<p><strong>El Sewedy Electric and Madkour have signed contracts worth almost EGP 1.2 bn<\/strong> with the Electricity Ministry to upgrade power infrastructure in the west of the country, <a href=\"https:\/\/bit.ly\/3CDOWCw\">Al Borsa<\/a> reports. The EGX-listed contractor will supply equipment for a transformer station at the <a href=\"https:\/\/www.sis.gov.eg\/Story\/161754\/New-Delta-Project?lang=en-us\">New Delta<\/a> project and provide electricity to substations near the Cairo-Alexandria Desert Road under separate contracts worth a combined EGP 1.1 bn. Meanwhile, Madkour signed a EGP 61 mn contract to provide electricity for a transformer station at the New Delta, according to the newspaper.<\/p>\n<p><strong>Enppi and Petrojet have together bought out the 50% stake held by <\/strong><strong>foreign <\/strong><strong>shareholders<\/strong><strong> in <\/strong><strong>International Drilling Material Manufacturing for<\/strong><strong> EGP 2.2 bn<\/strong>, with each of them acquiring 25% of the company, <a href=\"https:\/\/bit.ly\/3pIIdjm\">Al Borsa<\/a> reports, quoting sources it says are in the know. Enppi and Petrojet now each hold a 40% stake in the company, while Ganope owns the remaining 20%. Cairo Capital Securities acted as both the buy-side and sell-side broker.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li>Another <strong>63k tons<\/strong> of <strong>Romanian wheat <\/strong>arrived at Damietta port yesterday. (<a href=\"https:\/\/www.facebook.com\/damietta.port\/posts\/pfbid02pQog5HyvPfqWy5pKGMfQBxFAjgSRkQdCmbL8Fj3Q6zxnXTucr2bJg7yWsqwtyRnel\">Statement<\/a>)<\/li>\n<li>Microfinance player <strong>Tamweely <\/strong>signed an agreement with healthtech startup <strong><a href=\"https:\/\/www.bypa-ss.com\/home\">Bypass<\/a><\/strong> to offer its <a href=\"https:\/\/htag.health\/en\">HealthTag<\/a> scannable medical records card to Tamweely customers. (<a href=\"https:\/\/ent.news\/2022\/8\/Tamweely-Bypass.pdf\">Statement, pdf<\/a>)<\/li>\n<li>The Armed Forces\u2019<strong> Egypt Center for Research and Regenerative Medicine<\/strong> is establishing <strong>Africa\u2019s first biobank<\/strong> \u2014 a facility for storing biomedical samples \u2014 in partnership with Germany\u2019s <a href=\"https:\/\/www.askion.com\/\">Askion<\/a> and local lab equipment firm <a href=\"https:\/\/mira-lab.com\/\">Miralab<\/a>. (<a href=\"https:\/\/bit.ly\/3AprFlf\">Statement<\/a>)<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/elsewedy-electric\/\">Elsewedy Electric<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enppi\/\">Enppi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hassan-allam-holding\/\">Hassan Allam Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/irrigation\/\">irrigation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/madkour\/\">Madkour<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/new-delta\/\">New Delta<\/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\/petrojet\/\">Petrojet<\/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=\"548973\" 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=\"548973\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/the-short-sellers-are-massing\/\">\r\n                            The short sellers are massing                        <\/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\/29\/the-short-sellers-are-massing\/\" 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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Net short positions in the index, which has risen 11% since mid-June but remains down 15% year-to-date, have reached levels not seen in two years, the newspaper reports, as more investors put their money on a fast downturn for the current rally buoying stocks from a bear market. \u201cThere\u2019s so much skepticism, so we\u2019re still in the sell-the-rally mentality,\u201d said one senior analyst. \u201cIf everybody feels we\u2019re in a bear market rally, it will almost become a self-fulfilling prophecy.\u201d<\/p><p><strong>Data out of China is only getting more meh: <\/strong>Economists have slashed their forecasts for Chinese growth for 2022 and most of next year amid an escalating property crisis and climate- and covid-19-related supply chain disruptions, according to a <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-08-28\/china-s-growth-prospects-weaken-as-economists-cut-2023-forecasts?srnd=premium-middle-east\">Bloomberg<\/a> survey of economists. The economy is now projected to grow just 3.5% this year, down from a previous forecast of 3.9%, while projections for the first three quarters of next year were also lowered by 0.1-0.4 percentage points.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\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>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>10,178<\/p>\n<\/td>\n<td>\n<p>-1.1% (YTD: -14.8%)<\/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>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 19.13<\/p>\n<\/td>\n<td>\n<p>Sell 19.24<\/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 <\/strong><strong>CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 19.16<\/p>\n<\/td>\n<td>\n<p>Sell 19.22<\/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>12,526<\/p>\n<\/td>\n<td>\n<p>-0.5% (YTD: +11.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>10,079<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: +18.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,463<\/p>\n<\/td>\n<td>\n<p>0.0% (YTD: +8.4%)<\/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>4,058<\/p>\n<\/td>\n<td>\n<p>-3.4% (YTD: -14.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,427<\/p>\n<\/td>\n<td>\n<p>-0.7% (YTD: +0.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td>\n<p>3,604<\/p>\n<\/td>\n<td>\n<p>-1.9% (YTD: -16.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 100.99<\/p>\n<\/td>\n<td>\n<p>+1.7%<\/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 9.30<\/p>\n<\/td>\n<td>\n<p>-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>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,749.80<\/p>\n<\/td>\n<td>\n<p>-1.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 19,906<\/p>\n<\/td>\n<td>\n<p>-0.2% (YTD: -56.9%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 fell 1.1% at yesterday\u2019s close<\/strong> on turnover of EGP 1.19 bn (29.7% above the 90-day average). Local investors were net buyers. The index is down 14.8% YTD.<\/p><p><strong>In the green: <\/strong>Ibnsina Pharma (+6.4%), Orascom Construction (+5.3%) and Madinet Nasr Housing (+3.1%).<\/p><p><strong>In the red: <\/strong>e-Finance (-5.5%), Housing and Development Bank (-3.3%) and Elsewedy Electric (-1.8%).<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/equities\/\">equities<\/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\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sp-500\/\">S&amp;P 500<\/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=\"548974\">\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\">10<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/what-higher-education-players-think-of-the-states-privatization-strategy\/\">\r\n                            What higher education players think of the state's privatization strategy<\/a>\r\n                        <\/h3>\r\n                        \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/what-higher-education-players-think-of-the-states-privatization-strategy\/\" 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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Today we will explore private university players\u2019 thoughts on the document.<\/p>\n<p><strong>The key takeaways:<\/strong> The general sentiment among the industry sources Enterprise spoke with is that, while the state\u2019s involvement in the sector has helped bring in more investments, there needs to be a level playing field in terms of the benefits offered to public and private institutions to allow the sector to flourish. Our sources also agree that competition is healthy, but the government would do well to follow private sector players\u2019 lead to improve public higher education.<\/p>\n<p><strong>Refresher: <\/strong>The government intends to fully withdraw from as many as 79 industries over the next three years as part of plans to restructure the economy in favor of the private sector. This is all part of a wider plan announced in May to restructure the economy in efforts to cushion the economic blow caused by the Ukraine war. The state wants to more than double the private sector\u2019s role in the economy to 65% over the next three years, and attract USD 40 bn in investment over the next four years. Education is one of the areas the government considers strategic and will therefore not be exiting.<\/p>\n<p><strong>Industry overview:<\/strong> Egypt currently has some 85 Egyptian universities, including governmental, private, international, civil, and high-tech institutions, according to figures from the <a href=\"https:\/\/scu.eg\/index\">Supreme Council of Universities<\/a>. That\u2019s 20 more institutions than we had in 2021, as the government worked to set up more higher education institutions and expand international partnerships. In 2021, 232 new faculties were set up \u2014 100 of which are public and 132 in private institutions \u2014 bringing the total to 756 colleges across the country. Additionally, 271 new majors were offered in public universities \u2014 boosting the total to 789 \u2014 including nuclear engineering, biophysics, cybernetics, artificial intelligence, and nanotechnology.<\/p>\n<p><strong>The FY 2022-2023 state budget has <\/strong><strong><a href=\"https:\/\/enterprise.press\/blackboards\/breaking-governments-education-spending-plans-fy-2022-2023\/\">allocated<\/a><\/strong><strong> EGP 159.2 bn for higher education<\/strong>, which is around 7.7% of total public spending, while EGP 79.3 bn is dedicated to scientific research, accounting for almost 4% of the entire budget, and marking a c.24% y-o-y increase from the previous fiscal year.<\/p>\n<p><strong>These figures suggest we\u2019ve reached (or at least are approaching) a saturation point<\/strong>, according to El Nahda University President Hossam El Malahy, who said that for every 1 mn residents, we need one university. He noted that efforts to enhance government investment in public education as well as incentives the state has given the private sector have led to an expansion in colleges around the nation.<\/p>\n<p><strong>Private sector players agree that maintaining healthy competition is beneficial, but benefits have to be equal:<\/strong> The government\u2019s interest in boosting investments in the sector has helped higher education flourish in Egypt, including with the establishment of foreign branch campuses <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/30\/how-light-touch-regulation-attracted-international-branch-campuses-to-egypt-9361\/\">since 2019<\/a>, our sources tell us. It remains the case that, even though new civil universities charge lower tuition fees than private universities, the latter retains a competitive edge because of their quality of education and the wide range of disciplines available, Future University President Obada Sarhan told Enterprise.<\/p>\n<p><strong>Some also want to see a few adjustments for private institutions in particular<\/strong>, including student admission rules and allowing secondment years for faculty members, which could make the sector more appealing to investors and increase the competitiveness of both private and civil universities, suggested MP Hossam Eldin El Mandouh. Removing the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6ecc7678-974f-47ec-b9ce-1f9a17c94073\">centralized admissions platform<\/a> that forced private and nonprofit universities to use a Tansik-style system will empower private institutions to admit the students they consider fit, agrees Sarhan. He praised the Supreme Council of Private Universities\u2019 <a href=\"https:\/\/enterprise.press\/blackboards\/tansik-style-application-system-private-unis-gets-scrapped\/\">decision to roll back the system<\/a>, saying that allowing private universities to admit students based on their own metrics will allow them to provide a higher quality of education.<\/p>\n<p><strong>One thing that doesn\u2019t need to change: Legislation and regulation of higher education.<\/strong> The higher education sector is appropriately governed by laws and regulations, as opposed to the K-12 sector, whose regulatory framework is still lacking, says Sarhan.<\/p>\n<p><strong>The broader higher education system could benefit from drawing on the management expertise and strategies of the private sector<\/strong>, said Senate Education Committee Undersecretary Ahmed El Badri. He advocated for boosting both the effective private sector participation in the delivery of educational services and determining the incentives provided within regulatory frameworks.<\/p>\n<p><strong>Partnering on research and skill development is key: <\/strong>Scientific research is a key axis of collaboration with the private sector, Senate Education Committee member Heba Makram Sharobim said, emphasizing the need to increase investments that support scientific research at Egyptian universities for the benefits of society and long-term development. The private sector can collaborate with public institutions on developing university hospitals and improving healthcare, said committee member Camelia Sobhy. This would improve healthcare through providing better medical services and producing the outputs of scientific research, among other things, she said.<\/p>\n<p><strong>None of this would interfere with the state\u2019s provision of unpaid higher education<\/strong>, which remains a matter of national security, several sources agree. University education provided at zero-cost is enshrined in the country\u2019s constitution and the rapid growth of private institutions does not contradict with that right, House Education Committee Chair Sami Hashem told Enterprise.<\/p>\n<p><strong>If anything, public universities benefit from the growth of the private sector<\/strong>, Hashem said. The private higher education sector also contributes to meeting the rising demand for educational services, he added.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top education stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>A lighter fourth-grade curriculum? <\/strong>The Education Ministry is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8373b1db-35b0-4b11-9c80-d87205f9b804\">working on<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8373b1db-35b0-4b11-9c80-d87205f9b804\">changes<\/a> to the much-maligned fourth-grade curriculum ahead of the new 2022-2023 school year.<\/li>\n<li><strong>Grad scholarships up for grabs: <\/strong>The Egyptian National Commission for UNESCO is <a href=\"https:\/\/www.facebook.com\/MOHESREGYPT\/posts\/pfbid02WNTqRXsDgTo89f9AQ7GYRbqU8ZCtq2L7djAvhjCk4XkzUjbLntsD2AgYmg7CkheUl\">offering five 50% graduate scholarship<\/a><a href=\"https:\/\/www.facebook.com\/MOHESREGYPT\/posts\/pfbid02WNTqRXsDgTo89f9AQ7GYRbqU8ZCtq2L7djAvhjCk4XkzUjbLntsD2AgYmg7CkheUl\">s<\/a> for some arts and humanities courses at the <a href=\"https:\/\/iars.net\/?fbclid=IwAR1Mnqspte-Oc5EGvs39TQDwnxqPs377wldG4DPkp0KnHiS_Nz4olZKjvac\">Institute of Arab Research and Studies<\/a> for the upcoming academic year 2022-2023 .<\/li>\n<li><strong>More reforms to the Thanaweya Amma system ahead? <\/strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1d007eb5-d6f5-4502-a92d-da863dcbc6a3\">New Education Minister<\/a> Reda Hegazy will <a href=\"https:\/\/www.facebook.com\/egypt.moe\/posts\/pfbid0U1Bpi14g9u7AcCKaBR9T6XGrcaQzbkmvZ9Frz4CmZpMXBUCxgV5J5aMkR9KRxHw4l\">form a committee<\/a>to review how students are evaluated in the high-school leaving exams. <\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/madbouly-cabinet\/\">Madbouly Cabinet<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-ownership-policy-document\/\">State ownership policy document<\/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=\"548976\" 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\/29\/548976\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-548976\" class=\"content-area-description single-story post-548976 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>August: Sharm El Sheikh will host the African Sumo Championship.<\/p>\n<p>29 August-2 September (Monday-Thursday): <a href=\"https:\/\/www.un.org\/en\/climatechange\/2022-africa-climate-week\">Africa Climate Week<\/a>, Gabon.<\/p>\n<p>30 August (Tuesday): Deadline for companies to file 2Q financial statements.<\/p>\n<p>30 August (Tuesday): Deadline to apply for government nonprofit universities via the tansik (enrollment) <a href=\"http:\/\/www.tansik.egypt.gov.eg.\">website<\/a>.<\/p>\n<p>30 August (Tuesday): The government hosts public consultations on its state ownership policy document with representatives from the food and hospitality sector.<\/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>31 August (Wednesday): Beltone convenes its general assembly to restructure the board following the change of ownership.<\/p>\n<p><strong>SEPTEMBER<\/strong><\/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): <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9ab18811-37ac-49ff-a508-4188cc7820cc\">Credit hikes<\/a> for ration card holders will come into effect.<\/p>\n<p>1 September (Thursday): Madbouly government set to introduce new <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02mjcJQGrQBXC7YRw2K16H5o2ih1iTaxmEC6bwS5F9wBrdDzjMMHepCu6cLiT82Euwl\">social protection measures<\/a>.<\/p>\n<p>1-2 September (Thursday-Friday): Egypt and UN-led regional climate roundtable ahead of COP27, Santiago, Chile.<\/p>\n<p>1-3 September (Thursday-Saturday): The Union of Arab Banks is organizing a forum on money laundering and terrorism financing in Sharm El Sheikh.<\/p>\n<p>3 September (Saturday): The National Dialogue board of trustees holds a meeting to set the agenda for the dialogue and choose rapporteurs for the involved committees.<\/p>\n<p>4 September (Sunday): The government hosts public consultations on its state ownership policy document with electricity players.<\/p>\n<p>4 September (Sunday): Industrial Development Authority\u2019s <a href=\"http:\/\/www.ida.gov.eg\/webcenter\/portal\/oracle\/webcenter\/page\/scopedMD\/s83d58991_1ad6_4dce_99ea_30c57d0e8097\/Page9c4d4973_3702_4395_b290_aeefc30f57dc.jspx\">deadline<\/a> for companies interested in providing various services in the industrial zones in Qena and Sohag to submit a written expression of interest.<\/p>\n<p>5-8 September (Monday-Thursday): <a href=\"https:\/\/www.gastechevent.com\/\">Gastech 2022<\/a>, Milan, Italy.<\/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 (Sunday-Tuesday): <a href=\"https:\/\/ed-forum.org\/\">Environment and Development Forum (EDF)<\/a>, InterContinental City Stars, Cairo.<\/p>\n<p>14 September (Wednesday): Expedition Investments\u2019 MTO for Domty expires.<\/p>\n<p>15 September (Thursday): Deadline for B Investments to respond to Adnoc\u2019s bid for TotalEnergies Egypt.<\/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): <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02AWBp1x22cds9iyFD5BqLzZmAeuPYAjEMRAD1qh62r2UtFBKmTG79hZzaMXhwhuE9l\">Deadline to apply<\/a> for the fifth phase of the export subsidy program.<\/p>\n<p>15 September (Thursday): 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>19-22 September (Monday-Thursday): EFG Hermes One on One Conference, Dubai.<\/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>22 September (Thursday): Deadline to submit prequalification applications for companies interested in submitting a proposal for sea water desalination projects<\/p>\n<p>25-27 September (Sunday-Tuesday) A delegation of executives at Egyptian real estate companies visit Saudi Arabia to present developers with investment opportunities in Egypt\u2019s real estate sector.<\/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>28-29 September (Wednesday-Thursday): The sixth edition of <a href=\"https:\/\/www.events.fintechrobos.com\/\">Arab Pensions and Social Ins. Conference<\/a> in Sharm El Sheikh.<\/p>\n<p><strong>OCTOBER<\/strong><\/p>\n<p>October: House of Representatives reconvenes after summer recess<\/p>\n<p>October: Air Sphinx, EgyptAir\u2019s low-cost subsidiary to <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=25062022&amp;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): Start of 2022-2023 school year.<\/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>, Washington, DC.<\/p>\n<p>15 October (Saturday): Cairo Metro will launch a global tender for maintenance work on the power stations and overhead catenary system of Line 1.<\/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>December: Egypt to <a href=\"https:\/\/bit.ly\/3bVoWYy\">expand Sudan electricity link capacity<\/a> to 300 MW.<\/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>1 January (Sunday): Residential electricity bills are set to rise as per the government\u2019s <a href=\"https:\/\/ent.news\/2020\/6\/%D8%A7%D9%84%D9%85%D8%A4%D8%AA%D9%85%D8%B1-%D8%A7%D9%84%D8%B5%D8%AD%D9%81%D9%89-%D9%84%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A1-%D9%84%D9%84%D8%AE%D9%85%D8%B3-%D8%B3%D9%86%D9%88%D8%A7%D8%AA-%D8%A7%D9%84%D9%82%D8%A7%D8%AF%D9%85%D8%A9-9-6-2020-1.pdf\">six-year roadmap (pdf)<\/a> to restructure electricity prices by 2025.<\/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>4Q2022: Raya Holding subsidiary Aman and Qalaa Holdings\u2019 Taqa Arabia to launch their fintech company.<\/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\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":548956,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-548955","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"9ef2b704-d3f3-4efb-aaf3-8950ccff8da8","teaser":"","photo_url":"https:\/\/ent.news\/2022\/8\/43.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>Take our fall 2022 reader poll - 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\/take-our-fall-2022-reader-poll\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Take our fall 2022 reader poll\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/take-our-fall-2022-reader-poll\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T22:26:33+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\/43.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\/take-our-fall-2022-reader-poll\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/take-our-fall-2022-reader-poll\/\",\"name\":\"Take our fall 2022 reader poll - 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