{"id":549126,"date":"2022-09-05T03:30:21","date_gmt":"2022-09-05T03:30:21","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=549126"},"modified":"2025-12-15T22:30:40","modified_gmt":"2025-12-15T22:30:40","slug":"abdalla-cabinet-coordinating-fiscal-and-monetary-policy-as-imf-talks-continue","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/abdalla-cabinet-coordinating-fiscal-and-monetary-policy-as-imf-talks-continue\/","title":{"rendered":"Abdalla, cabinet coordinating fiscal and monetary policy as IMF talks continue"},"content":{"rendered":"<section id=\"549128\" 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=\"549128\">\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\/09\/05\/this-morning-its-pmi-day-abdalla-cabinet-are-working-on-monetary-and-fiscal-policy-as-imf-talks-continue\/\">\r\n                            THIS MORNING: It\u2019s PMI day + Abdalla, cabinet are working on monetary and fiscal policy as IMF talks continue                        <\/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\/09\/05\/this-morning-its-pmi-day-abdalla-cabinet-are-working-on-monetary-and-fiscal-policy-as-imf-talks-continue\/\" 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 last weekend of summer is now behind us <\/strong>(almost-officially in the US and Canada, where today is the labor day holiday \u2014 and just-about-officially in Egypt, if the atmosphere in Sahel is any barometer) <strong>and it shows in a very light news day today.<\/strong><\/p><p><a id=\"tldr-story-01\" class=\"content-anchor\"><\/a><strong> THE BIG STORY HERE AT HOME- Hassan Abdalla and his team at the central bank<\/strong> continue to chart a way forward out of our current FX, inflation and other challenges.<\/p><p><strong>Abdalla and Prime Minister Moustafa Madbouly were talking monetary and fiscal policy <\/strong><strong>again yesterday <\/strong>at a meeting involving senior cabinet ministers and central bank officials, according to <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02dS7cg6GrPZn3Vahfj7kLxcHYWWVJ3ZMLvtw3yLwnxCQqymp9zgSTy7hJ9NRtpyMml\">a cabinet statement<\/a>. The sit-down covered the latest on talks with the International Monetary Fund (IMF) for an assistance package, the impact of rising inflation on businesses and consumers, and steps that Finance Minister Mohamed Maait\u2019s team have recently taken to accelerate the release of goods piled up at Egyptian ports.<\/p><p><strong>The Abdalla bounce in short-term EGP bonds continued yesterday:<\/strong> Yields on three-month treasuries fell for the second auction in a row yesterday, declining 20 bps to 15.85%, according to central bank data. Yields had inched down to 16.07% last week which some traders <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f0cf51a0-1c76-4199-9938-f5fce0c3bc7c\">attributed<\/a> to Hassan Abdalla\u2019s appointment as CBE governor.<\/p><p><strong>But yields on one-year bills continued to rise:<\/strong> Indications that policymakers could soon make a move on the EGP and hopes that an agreement with the IMF could be close haven\u2019t had an impact on one-year yields, which have risen almost 60 bps since the beginning of August. The rate inched up to 16.91% from 16.88% in an auction yesterday.<\/p><p><a id=\"tldr-story-02\" class=\"content-anchor\"><\/a> <strong>SMART POLICY #1- Bank boards won\u2019t be required to meet quite as often<\/strong>, according to <a href=\"https:\/\/ent.news\/2022\/9\/Circular-dated-4-September-2022-regarding-amending-the-number-of-BOD-meetings.pdf\">a Central<\/a><a href=\"https:\/\/ent.news\/2022\/9\/Circular-dated-4-September-2022-regarding-amending-the-number-of-BOD-meetings.pdf\">B<\/a><a href=\"https:\/\/ent.news\/2022\/9\/Circular-dated-4-September-2022-regarding-amending-the-number-of-BOD-meetings.pdf\">ank of Egypt circular (pdf)<\/a> out yesterday that said boards will now have to meet at least six times a year. Bank boards were previously required to hold at least eight meetings every year under <a href=\"https:\/\/www.cbe.org.eg\/en\/Pages\/HighlightsPages\/Circular-dated-29-January-2019-regarding-amending-the-number-of-BOD-meetings-and-the-participation-via-video-or-teleconfere.aspx\">a 2019 decree<\/a>. This is smart: The nation\u2019s banks are exceptionally well-regulated by the CBE (and have been for the better part of two decades). Eight meetings a year was just needless overhead for C-suite folks and non-exec directors alike.<\/p><p><strong>SMART POLICY #2- <\/strong><strong>The Saudi central bank has brought in a crypto chief <\/strong>to manage its digital assets program in an indicator that Riyadh is looking to compete with the UAE, which has positioned itself as a global hub for the crypto industry, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-09-04\/saudi-central-bank-hires-crypto-chief-to-boost-digital-ambitions?sref=mmeFTDW1\">Bloomberg<\/a> reports.<\/p><p><strong>Hassan Abdalla has a hell of a lot on his plate right now<\/strong> \u2014 and we\u2019re hardly crypto fanboys here at Enterprise. But when he and the good people at the CBE come up for air, we\u2019re going to be hoping they (cautiously) <strong>re-think the regulator\u2019s approach to crypto, <\/strong><strong><a href=\"https:\/\/media.giphy.com\/media\/ToMjGpx9F5ktZw8qPUQ\/giphy-downsized-large.gif\">which in the Amer days was effectively this<\/a><\/strong><strong>. <\/strong><\/p><hr class=\"grey-line\"><p><a id=\"tldr-story-09\" class=\"content-anchor\"><\/a><strong> *** You have just a few more days to tell us how you\u2019re feeling about your business<\/strong> and the wider economy. We\u2019ll have the results for mid-month \u2014 just in time to give you a sense of what everyone else is thinking heading into budget season. <strong><a href=\"https:\/\/www.surveymonkey.com\/r\/QDMBYCT\">Make your voice heard in our Fall Reader Survey.<\/a><\/strong> It won\u2019t take more than a few minutes to complete.<\/p><hr class=\"grey-line\"><p><strong>HAPPENING TODAY-<\/strong><\/p><p><a id=\"tldr-story-03\" class=\"content-anchor\"><\/a> <strong>It\u2019s PMI day:<\/strong> S&amp;P Global will publish August\u2019s data measuring activity in Egypt\u2019s non-oil private sector. The private sector contracted for the 20th consecutive month <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/592ef015-c7d0-4128-a446-982e576e7eeb\">in July<\/a> as high inflation continued to weigh on output and demand. <a href=\"https:\/\/www.pmi.spglobal.com\/Public\/Release\/PressReleases\">Look for the PMI here at about 6:15am CLT<\/a>.<\/p><p><strong>Palestinian President Mahmoud Abbas <\/strong><strong><a href=\"http:\/\/www.mofa.pna.ps\/ps\/ps109222?fbclid=IwAR1udMnK1Do2HwO-xw6MR2X4xYrWJCM0XG-B2gyfoEv702O6PLZhRMscDyg\">will be in Cairo<\/a><\/strong><strong> ahead of an Egyptian-Palestinian <\/strong><strong>summit on Tuesday<\/strong>. The two sides will discuss the situation in Palestine and the possibility of releasing Palestinian prisoners in Israeli custody. Egypt played a key role in brokering last month\u2019s ceasefire following clashes between Israel and Gaza militants.<\/p><p><strong>OPEC+ meets to set output policy amid a wave of uncertainty in the markets<\/strong> that has resulted in the longest streak of monthly drops in crude prices since the pandemic, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-09-03\/opec-faces-output-dilemma-as-darkening-economy-unsettles-market?srnd=premium-middle-east#xj4y7vzkg\">Bloomberg<\/a> reports. Most analysts and traders surveyed by the business newswire expect the oil cartel to keep output steady. Brent crude futures are currently trading at around USD 93 a barrel \u2014 down nearly a quarter on their June peak.<\/p><p><strong>The board overseeing the National Dialogue will hold its next meeting<\/strong>, choosing rapporteurs for all of the committees and subcommittees of the social, political and economic tracks. It will also work on topics of discussion for the dialogue.<\/p><p><strong>HAPPENING THIS WEEK-<\/strong><\/p><p><strong>We\u2019re expecting some sort of announcement from the government on how it plans to <\/strong><strong>proceed with its privatization program<\/strong>, according to comments given to the media by Finance Minister Mohamed Maait last week. This came on the same day as the Prime Minister Moustafa Madbouy met with the heads of the EGX and the Financial Regulatory Authority to discuss plans to sell stakes in state-owned enterprises on the bourse.<\/p><hr class=\"grey-line\"><p><strong>THE BIG STORY ABROAD-<\/strong><\/p><p><strong>Europe\u2019s energy shock is getting most of the attention in the global front pages this <\/strong><strong>morning<\/strong> as energy traders predict a volatile start to the week following Gazprom\u2019s shuttering of the Nordstream 1 gas pipeline last week. <a href=\"https:\/\/www.reuters.com\/world\/europe\/ukraine-nuclear-plant-loses-power-line-moscow-makes-europe-sweat-over-gas-2022-09-04\/\">Reuters<\/a>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-09-04\/germany-may-make-billions-off-energy-profit-levy-scholz-says?srnd=premium&amp;sref=mmeFTDW1\">Bloomberg<\/a>, the <a href=\"https:\/\/www.nytimes.com\/2022\/09\/04\/world\/europe\/europe-economy-ukraine-war.html\">New York Times<\/a>, and the <a href=\"https:\/\/www.ft.com\/content\/1e411910-45fa-475a-bbe6-9e9c76594778\">Financial Times<\/a> are looking at how European leaders could respond to the deepening crisis as the effects of the sanctions war with Russia threaten to shutter heavy industry across the continent. The <a href=\"https:\/\/www.wsj.com\/articles\/a-slowing-china-helps-rein-in-inflation-around-the-world-11662296400?mod=hp_lead_pos7\">Wall Street Journal<\/a>, meanwhile, is cheering the growth slowdown in China, suggesting that it will help to calm soaring inflation elsewhere in the world.<\/p><p><strong>iSheep, rejoice: <\/strong>Expect the IPhone 14 Pro line to be the star of Apple\u2019s <a href=\"https:\/\/www.apple.com\/apple-events\/\">annual event<\/a>on Wednesday, with the upscale products poised to have significant upgrades, including a faster A16 chip, an always-on display screen, a whooping 48-megapixel rear wide-angle camera system, and a larger battery, according to <a href=\"https:\/\/www.bloomberg.com\/news\/newsletters\/2022-09-04\/apple-s-far-out-event-iphone-14-pro-airpods-pro-2-and-apple-watch-series-8-l7ndyucj?srnd=premium-middle-east\">Bloomberg<\/a>. The iPhone 14 Pro will also see some modest design changes, including to its sensor notch. The event is set to see the unveiling of two standard iPhone 14 models, a high-end Apple Watch Pro and upgraded new Airpods Pro.<\/p><p><strong>Wait, no Macs or iPads? <\/strong>Nope. Conventional wisdom is that we\u2019ll have to wait until October, but that new machines with M2 chips will be on offer.<\/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><strong>The 2020s could be even more terrible than the 1970s:<\/strong> Comments made by historian Niall Ferguson over the weekend are getting attention in the global business press. Speaking to CNBC at the Ambrosetti Forum in Italy, Ferguson warned that the current political and economic turbulence could be worse than the 1970s \u2014 a decade characterized by energy shocks, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c8d4e167-4793-4949-bcf7-7504fef9ff63\">stagflation<\/a> and political and civil unrest.<\/p><p><strong>\u201cThe ingredients of the 1970s are already in place,\u201d<\/strong> Ferguson said, drawing parallels between events over the past two years, the loose fiscal and monetary policies of the late 1960s, and the 1973 war. The difference, he said, is that the current war in Ukraine is lasting longer than the Arab-Israeli war, making the energy shock more severe. \u201cWhy shouldn\u2019t it be as bad as the 1970s?\u201d he said. \u201cI\u2019m going to go out on a limb: Let\u2019s consider the possibility that the 2020s could actually be worse than the 1970s,\u201d he said. The story got ink in <a href=\"https:\/\/www.cnbc.com\/2022\/09\/02\/1970s-inflation-historian-niall-ferguson-has-a-warning-for-investors.html\">CNBC<\/a> and <a href=\"https:\/\/www.marketwatch.com\/story\/why-shouldnt-it-be-as-bad-as-the-1970s-historian-niall-ferguson-warns-the-world-is-sleepwalking-into-an-era-of-political-and-economic-upheaval-akin-to-the-1970s-only-worse-11662231615\">MarketWatch<\/a>.<\/p><p><strong>ICYMI- <\/strong><\/p><p><strong>Missed<\/strong><strong> this week\u2019s Inside Industry?<\/strong> In our weekly vertical exploring all things industry and manufacturing, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4787364a-e563-4d83-a871-21808f089f51\">we sat down with Arab Alloys CEO Medhat Nafei<\/a> to discuss his company\u2019s plans to set up a EGP 1 bn ferroalloys industrial complex in the Suez Canal Economic Zone.<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p><strong>*** WE\u2019RE LOOKING FOR SMART, TALENTED PEOPLE<\/strong> to help us build some very cool new things. Today, we run two daily publications, one regional publication, five weekly industry verticals, and a monthly newsletter designed to make our readers feel just a bit smarter.<\/p><p><strong>We have tons more in the pipeline \u2014 come help us build new publications.<\/strong> We offer the chance to work in a fast-paced newsroom on a broad range of topics and in a variety of formats. Our goal is simple: To create value for our growing community of &gt;199k readers by telling stories that matter.<\/p><p>We\u2019re looking for editors who want to run publications and teams, editors to help reporters craft stories, and talented reporters. Egyptian and foreign nationals alike are welcome to apply. So are job-switchers: If you\u2019re an equities analyst tired of the rat race, we\u2019re a great place to come work.<\/p><p><strong>Apply directly to <\/strong><strong><a href=\"mailto:jobs@enterprisemea.com\">jobs@enterprisemea.com<\/a><\/strong><strong> and mention Patrick in your subject line.<\/strong><\/p><p><a href=\"https:\/\/enterprise.press\/2022\/04\/28\/come-work-us-hiring-reporters-editors-new-existing-products\/\">Or hit this link for more information.<\/a> It\u2019s worth it \u2014 trust us.<\/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> We look at the growing investor interest in Egypt\u2019s preschool sector.<\/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\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/cryptocurrency\/\">cryptocurrency<\/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\/energy\/\">energy<\/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\/moustafa-madbouly\/\">Moustafa Madbouly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pmi\/\">PMI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/regulation\/\">regulation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"549129\" 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=\"549129\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/05\/549129\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549129\" class=\"content-area-description single-story post-549129 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\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=\"549130\" 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=\"549130\">\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\">Automotive<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/05\/el-nasr-could-sign-final-contracts-to-produce-evs-next-month\/\">\r\n                            El Nasr could sign final contracts to produce EVs next month                        <\/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\/09\/05\/el-nasr-could-sign-final-contracts-to-produce-evs-next-month\/\" 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\/09\/05\/el-nasr-could-sign-final-contracts-to-produce-evs-next-month\/')\">\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\/09\/05\/el-nasr-could-sign-final-contracts-to-produce-evs-next-month\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=El Nasr could sign final contracts to produce EVs next month&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/05\/el-nasr-could-sign-final-contracts-to-produce-evs-next-month\/\">\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\/09\/05\/el-nasr-could-sign-final-contracts-to-produce-evs-next-month\/&title=El Nasr could sign final contracts to produce EVs next month\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=El+Nasr+could+sign+final+contracts+to+produce+EVs+next+month+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F05%2Fel-nasr-could-sign-final-contracts-to-produce-evs-next-month%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\/09\/05\/el-nasr-could-sign-final-contracts-to-produce-evs-next-month\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549130\" class=\"content-area-description single-story post-549130 post type-post status-publish format-standard hentry category-automotive tag-automotive tag-china tag-enterpriseam tag-evs tag-manufacturing wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>It only took 3+ years, but El Nasr Auto might finally be ready to finalize contracts <\/strong><strong>for EV assembly: <\/strong>El Nasr Automotive expects to sign final contracts to produce electric vehicles with an unnamed Chinese company in mid-October, <a href=\"https:\/\/alborsaanews.com\/2022\/09\/04\/1573845\">Al Borsa<\/a> reported yesterday, citing an anonymous source at the company. The report came hours after Public Enterprise Minister Mahmoud Esmat held a meeting to review the status of the negotiations between El Nasr and a Chinese auto firm. The ministry was tight-lipped on the identity of the Chinese firm and when the contracts would be signed in its <a href=\"https:\/\/ent.news\/2022\/9\/Public-Enterprise-EVs.pdf\">statement (pdf)<\/a>.<\/p>\n<p><strong>So who\u2019s the Chinese company?<\/strong> It\u2019s likely <a href=\"http:\/\/www.baicgroup.com.cn\/en\/about\">BAIC Group<\/a>, which we were told in June had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/963ef0b4-e370-4987-94ff-0db53c2aada9\">signed an MoU with El Nasr<\/a> for the production of EVs. At the time production was expected to begin in the middle of 2023 with the aim of putting out the first EVs on the market by 4Q 2023.<\/p>\n<p><strong>FEV is reportedly bringing the blueprints:<\/strong> State-owned El Nasr is reviewing designs for electric sedans from German vehicle designer FEV ahead of signing the contracts, Al Borsa\u2019s source said.<\/p>\n<p><strong>Finally, the endgame?<\/strong> El Nasr has been in talks with foreign companies to partner on an EV project for years. The company had entered negotiations with Chinese auto giant Dongfeng back <a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/04\/egypt-in-talks-with-a-number-of-automotive-companies-for-local-assembly\/\">in 2019<\/a> only to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f0f9e19-5e30-400f-8dba-6213afd8fb58\">pull out more than two years later<\/a> apparently because the two sides were unable to agree on prices for imported components. <a href=\"https:\/\/enterprise.press\/greeneconomys\/egypts-ev-plans-post-dongfeng\/\">We had more in our weekly Going Green vertical<\/a> on the renewables industry.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549131\" 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=\"549131\">\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\">Customs<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/05\/manufacturers-heres-how-you-qualify-for-customs-breaks\/\">\r\n                            Manufacturers: Here\u2019s how you qualify for customs breaks                        <\/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\/09\/05\/manufacturers-heres-how-you-qualify-for-customs-breaks\/\" 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\/09\/05\/manufacturers-heres-how-you-qualify-for-customs-breaks\/')\">\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\/09\/05\/manufacturers-heres-how-you-qualify-for-customs-breaks\/\">\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=Manufacturers: Here\u2019s how you qualify for customs breaks&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/05\/manufacturers-heres-how-you-qualify-for-customs-breaks\/\">\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\/09\/05\/manufacturers-heres-how-you-qualify-for-customs-breaks\/&title=Manufacturers: Here\u2019s how you qualify for customs breaks\">\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=Manufacturers%3A+Here%E2%80%99s+how+you+qualify+for+customs+breaks+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F05%2Fmanufacturers-heres-how-you-qualify-for-customs-breaks%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\/09\/05\/manufacturers-heres-how-you-qualify-for-customs-breaks\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/115.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"549132\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/05\/manufacturers-heres-how-you-qualify-for-customs-breaks\/115-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/115.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"115.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/115.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/115.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549131\" class=\"content-area-description single-story post-549131 post type-post status-publish format-standard has-post-thumbnail hentry category-customs tag-customs tag-customs-tariffs tag-enterpriseam tag-finance-ministry tag-industry tag-manufacturing tag-trade-and-industry-ministry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The Finance Ministry has laid out the criteria for industry players looking to <\/strong><strong>benefit from amended customs tariffs<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a7e87c52-f3e1-49dd-93ae-3d18b8287074\">approved<\/a> by the House of Representatives in June, according to <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02giU5U78vhYgqeRa3BRFQRKvCdUSV1dwn1QTybhL39C5qeW4i13nUMyWNZewC2Baql\">a cabinet statement<\/a>. Manufacturers will need to keep records on the volume and purpose of their imports so they can qualify for customs breaks on some production inputs, with the Customs Authority, the Industrial Development Authority (IDA), the Trade and Industry Ministry, and the Finance Ministry all playing a role in approving companies\u2019 imports and tariffs depending on the sector in which they operate.<\/p>\n<p><strong>Refresher:<\/strong> The amendments impact 150 raw material imports used by automotive and industrial manufacturers, hotels, renewables players, and farmers, among other industries. They were put in place in a bid to lower imports of finished goods, boost local industry, and up exports.<\/p>\n<p><strong>^^ We broke down the customs breaks and how they\u2019re being implemented in an <\/strong><strong><a href=\"https:\/\/enterprise.press\/industries\/egypt-works-gather-momentum-localization-push\/\">Inside Industry vertical<\/a><\/strong><strong> earlier this summer.<\/strong><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/customs\/\">customs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/customs-tariffs\/\">Customs tariffs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industry\/\">industry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade-and-industry-ministry\/\">Trade and Industry Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549133\" 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=\"549133\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/05\/bim-to-invest-usd-25-mn-to-expand-egypt-footprint\/\">\r\n                            Bim to invest USD 25 mn to expand Egypt footprint                        <\/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\/09\/05\/bim-to-invest-usd-25-mn-to-expand-egypt-footprint\/\" 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\/09\/05\/bim-to-invest-usd-25-mn-to-expand-egypt-footprint\/')\">\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\/09\/05\/bim-to-invest-usd-25-mn-to-expand-egypt-footprint\/\">\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=Bim to invest USD 25 mn to expand Egypt footprint&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/05\/bim-to-invest-usd-25-mn-to-expand-egypt-footprint\/\">\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\/09\/05\/bim-to-invest-usd-25-mn-to-expand-egypt-footprint\/&title=Bim to invest USD 25 mn to expand Egypt footprint\">\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=Bim+to+invest+USD+25+mn+to+expand+Egypt+footprint+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F05%2Fbim-to-invest-usd-25-mn-to-expand-egypt-footprint%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\/09\/05\/bim-to-invest-usd-25-mn-to-expand-egypt-footprint\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549133\" class=\"content-area-description single-story post-549133 post type-post status-publish format-standard hentry category-investment-watch tag-bim tag-enterpriseam tag-investment-watch tag-mahmoud-el-far tag-retail 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>Supermarket chain Bim Egypt plans to invest USD 25 mn to open hund<\/strong><strong>reds of <\/strong><strong>new <\/strong><strong>branches<\/strong>, <a href=\"https:\/\/bit.ly\/3BbkKxt\">Al Mal<\/a> reports, citing people familiar with the matter. The Turkish retailer reportedly wants to open as many as 200 branches during the first half of 2023. Bim first entered Egypt in 2013 and currently has 300 branches in the country.<\/p>\n<p><strong>IN OTHER RETAIL NEWS-<\/strong> Burgeoning supermarket chain <strong>Mahmoud El Far<\/strong> has opened a new store in <strong>Madinaty<\/strong> at a cost of EGP 200 mn, <a href=\"https:\/\/bit.ly\/3TG5wI8\">Masrawy<\/a> reports. This is the company\u2019s second branch in Egypt after opening its inaugural store in New Cairo last year.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bim\/\">Bim<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mahmoud-el-far\/\">Mahmoud El Far<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/retail\/\">retail<\/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=\"549134\" 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=\"549134\">\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\">A MESSAGE FROM HSBC<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/05\/549134\/\">\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\/09\/05\/549134\/\" 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\/09\/05\/549134\/')\">\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\/09\/05\/549134\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/05\/549134\/\">\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\/09\/05\/549134\/&title=\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F05%2F549134%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\/09\/05\/549134\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549134\" class=\"content-area-description single-story post-549134 post type-post status-publish format-standard hentry category-a-message-from-hsbc tag-a-message-from-hsbc tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-04\" class=\"content-anchor\"><\/a> <strong>The Middle East \u2014 the next enterprise powerhouse?<\/strong><\/p>\n<p>By Ali Taqi<\/p>\n<p>A question I\u2019m often asked is, \u201cWhat does it take to start and build a successful business?\u201d<\/p>\n<p>Much is clearly linked to the personalities and abilities of individual entrepreneurs \u2014 attributes of confidence, resilience, communication skills, and an eye for numbers and marketing opportunities are regularly cited as key to success.<\/p>\n<p>But the characteristics of the geographical environments and ecosystems that allow enterprise to flourish are also vital.<\/p>\n<p>The United States and the United Kingdom, where I spent some of my career, are well-known for the social and economic conditions that provide a hospitable ecosystem for people starting a business.<\/p>\n<p>My native Middle East has not always been viewed as a hub of dynamic, self-starting enterprise. The region\u2019s global leadership in energy production may help explain that perception \u2014 such a strategically important industry may inevitably overshadow other economic activity.<\/p>\n<p>Yet figures from <a href=\"https:\/\/www.startupblink.com\/startupecosystemreport\">StartupBlink<\/a>, the global startup ecosystem map and research center, shows our region has 57 startup ecosystems in its index of the top 1k cities for start-ups. In the global country rankings, the UAE, Saudi Arabia, Egypt, Kuwait, Bahrain and Qatar all ranked in the top 100 this year.<\/p>\n<p>This data suggests it may be time to reassess which regions, countries and cities can (and will) provide the most fertile ground to grow and scale a business. The Middle East has clear pedigree as an enterprise hub: This region, at the crossroads of East and West, has been a focus of global trade for millennia. Today\u2019s entrepreneurs in modern Manama, Doha, Dubai, Riyadh and Cairo walk in the footsteps of entrepreneurial forebears who did business over centuries at the souks and ports across North Africa, the Arabian Gulf, the Levant, Turkey and beyond.<\/p>\n<p>Our region\u2019s current stock exchange boom, with initial public offerings soaring in Gulf markets, is fueled by global investors who see MENAT\u2019s huge potential. The Middle East is home to some of the world\u2019s most ambitious economic transformation agendas, accelerating diversification policies that promote new industries and investments \u2014 just as economic uncertainty is rising elsewhere in the world.<\/p>\n<p>The optimism is clearly felt by the venture capital community: Our region saw its highest ever level of venture capital funding last year, with USD 2.6 bn flowing into the Middle East and North Africa region in 155 transactions.<\/p>\n<p>Earlier this year, a Dubai Chamber of Digital Economy <a href=\"http:\/\/www.dubaichamber.com\/whats-happening\/chamber_news\/dubai-attracts-57-of-scaleup-funding-in-mena-region-report\">report<\/a> showed that the regional financial center accounts for 57% of regional scale-up funding, reinforcing its position as a tech hub. The scale-up news is good region-wide, having collectively attracted USD 9.1 bn, the report says.<\/p>\n<p>Starting a business is one thing, but scaling it is the next challenge \u2014 and the UAE, Saudi Arabia and Egypt are all popular destinations for scale-up relocations. Check out our advice on <a href=\"https:\/\/www.business.hsbc.com.eg\/en-gb\/insights\/growing-my-business\/scaling-up-key-steps-for-reaching-your-growth-goals\">what scaling successfully looks like<\/a>, published this summer.<\/p>\n<p>Here in Egypt, I\u2019m confident that recent successes will inspire the next generation of entrepreneurs. We\u2019ve supported new businesses in emerging industries, particularly in the renewable energy space, such as <a href=\"https:\/\/www.business.hsbc.com.eg\/en-gb\/insights\/growing-my-business\/karmsolar-powers-up-expansion-plan\">KarmSolar<\/a> as it has grown into a thriving business with over 600 clients \u2014 and an ambition to make renewables the main source of electricity across the Arab world. We\u2019ve also partnered with Nile University and the Central Bank of Egypt, under the <a href=\"https:\/\/www.business.hsbc.com.eg\/en-gb\/campaigns\/nilepreneurs-academy\">Nilepreneurs<\/a> program, which has seen 12 start-ups, across a range of sectors, graduate from the program since 2019.<\/p>\n<p>For me, enterprise is the essence of human development, underpinning social, economic and environmental progress. When encouraged to thrive, and properly supported, entrepreneurs create solutions to societal problems, empowering people to grow individually and as part of their community. Society needs the entrepreneurs of today to innovate to face the challenges of tomorrow.<\/p>\n<p>I\u2019m pleased to have walked the entrepreneur\u2019s journey alongside so many clients, and I look forward to supporting the next generation of ambitious, internationally-minded business leaders on the road ahead.<\/p>\n<p><em>Ali Taqi (<\/em><em><a href=\"https:\/\/ae.linkedin.com\/in\/ali-taqi-888b2a14\">LinkedIn<\/a><\/em><em>) is head of commercial banking at HSBC Egypt<\/em>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/a-message-from-hsbc\/\">A MESSAGE FROM HSBC<\/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=\"549135\" 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=\"549135\">\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\/09\/05\/abdelhalim-allam-elected-lawyers-syndicate-president\/\">\r\n                            Abdelhalim Allam elected Lawyers\u2019 Syndicate president                        <\/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\/09\/05\/abdelhalim-allam-elected-lawyers-syndicate-president\/\" 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\/09\/05\/abdelhalim-allam-elected-lawyers-syndicate-president\/')\">\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\/09\/05\/abdelhalim-allam-elected-lawyers-syndicate-president\/\">\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=Abdelhalim Allam elected Lawyers\u2019 Syndicate president&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/05\/abdelhalim-allam-elected-lawyers-syndicate-president\/\">\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\/09\/05\/abdelhalim-allam-elected-lawyers-syndicate-president\/&title=Abdelhalim Allam elected Lawyers\u2019 Syndicate president\">\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=Abdelhalim+Allam+elected+Lawyers%E2%80%99+Syndicate+president+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F05%2Fabdelhalim-allam-elected-lawyers-syndicate-president%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\/09\/05\/abdelhalim-allam-elected-lawyers-syndicate-president\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549135\" class=\"content-area-description single-story post-549135 post type-post status-publish format-standard hentry category-moves tag-abdelhalim-allam tag-enterpriseam tag-law tag-moves wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Abdelhalim Allam<\/strong> has been elected <strong>president<\/strong> of <strong>the Lawyers\u2019 Syndicate<\/strong> after a landslide victory, <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=04092022&id=0795e8f4-e9e5-44b5-af49-11041c5722f1\">Al Shorouk<\/a>reported. Allam, who heads the syndicate\u2019s branch in Alexandria, won the race with more than half of the 45.2k votes cast, results showed. Eighteen candidates have been vying for the position since March after <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f5868273-6caf-4911-9515-c2f26cf51a1b\">President Ragai Attia passed away<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdelhalim-allam\/\">Abdelhalim Allam<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/law\/\">law<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549136\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"549136\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/05\/549136\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549136\" class=\"content-area-description single-story post-549136 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.sodic.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/Sodic-25_IDEAS_1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549137\" 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=\"549137\">\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\/09\/05\/commodities-customs-and-currency-were-discussed-on-the-airwaves-last-night\/\">\r\n                            Commodities, customs and currency were discussed on the airwaves 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\/09\/05\/commodities-customs-and-currency-were-discussed-on-the-airwaves-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\/09\/05\/commodities-customs-and-currency-were-discussed-on-the-airwaves-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\/09\/05\/commodities-customs-and-currency-were-discussed-on-the-airwaves-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=Commodities, customs and currency were discussed on the airwaves last night&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/05\/commodities-customs-and-currency-were-discussed-on-the-airwaves-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\/09\/05\/commodities-customs-and-currency-were-discussed-on-the-airwaves-last-night\/&title=Commodities, customs and currency were discussed on the airwaves 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=Commodities%2C+customs+and+currency+were+discussed+on+the+airwaves+last+night+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F05%2Fcommodities-customs-and-currency-were-discussed-on-the-airwaves-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\/09\/05\/commodities-customs-and-currency-were-discussed-on-the-airwaves-last-night\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549137\" class=\"content-area-description single-story post-549137 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-ali-el-moselhy tag-commodities tag-customs tag-enterpriseam tag-foreign-exchange tag-last-nights-talk-shows tag-supply-ministry tag-wheat wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>There was no specific topic dominating airwaves yesterday<\/strong>, with talking heads discussing the commodities front, a much-needed relief for importers and others.<\/p>\n<p><strong>Supply Minister Ali El Moselhy was on Al Kahera W El Nas\u2019s Hadith El Qahera delivering <\/strong><strong>a mix or reassurance and alarmism:<\/strong> \u201cThis is the worst global crisis since [I believe] the Second World War,\u201d the minister said while moving to calm fears about food insecurity caused by the conflict. The country has enough wheat to last more than six months, partly due to the government securing more than 4 mn tons from local farmers, he said (watch, runtime: <a href=\"https:\/\/www.youtube.com\/watch?v=OGz5noutKmw\">8:12<\/a> | <a href=\"https:\/\/www.youtube.com\/watch?v=ifgUMKRs3Tg\">5:43<\/a>).<\/p>\n<p><strong>Amended custom tariffs will apply to both production inputs stuck at ports <\/strong><strong>and others set to be imported<\/strong>, Customs Authority spokesperson Mohamed Ibrahim said on Salet El Tahrir (<a href=\"https:\/\/www.youtube.com\/watch?v=NJmlok-6y7s\">watch, runtime: 8:08<\/a>). Businesses can also send equipment for maintenance abroad and have it shipped back without incurring any custom charges, on the condition that they declare that the goods are being exported temporarily for maintenance, he said. The decisions received praise from Mohamed El Masry, vice chairman of Federation of Egyptian Chambers of Commerce (FEDCOC), who told Salet El Tahrir (<a href=\"https:\/\/www.youtube.com\/watch?v=LmW23OkRNh4\">watch, runtime: 9:58<\/a>) that it would help resolve the crisis at ports.<\/p>\n<p><strong>Another way the government could get more foreign currency into the country:<\/strong> Convincing expats to send more remittances in exchange for customs breaks on vehicles, suggested Alaa Selim, the secretary-general of the General Union for Egyptians Abroad in Kuwait. In an interview with late night queen Lamees El Hadidy on Kelma Akhira, Selim said that Egyptians abroad could transfer USD 50-100k in remittances in return for a customs break on imported cars (<a href=\"https:\/\/www.youtube.com\/watch?v=xiBZVWjsUqc\">watch, runtime: 3:01<\/a>). Purchasing vehicles abroad and shipping them to Egypt has become a well-known practice by expats (especially in the Gulf) because of the high prices in the local market.<\/p>\n<p><strong>Also on the airwaves last night:<\/strong><\/p>\n<ul>\n<li><strong>More tourists:<\/strong> El Hekaya\u2019s Amr Adib called for revamping airports and providing better services to attract more tourists. (El Hekaya | <a href=\"https:\/\/www.youtube.com\/watch?v=5RvD4royn6Q\">watch, runtime: 32:27<\/a>)<\/li>\n<li><strong>More wheat:<\/strong> Egypt plans to plant 4 mn feddans of wheat next season, Agriculture Minister El Sayed El Quseir said. (Salet El Tahrir | <a href=\"https:\/\/www.youtube.com\/watch?v=RCP1t0p9-g4\">watch, runtime: 3:57<\/a>)<\/li>\n<li><strong>A man accused of shooting dead a female student in Menofiya<\/strong> over rejecting his marriage proposal has committed suicide, the Interior Ministry said yesterday. (Salet El Tahrir | <a href=\"https:\/\/www.youtube.com\/watch?v=CLmpwuRtNg0\">watch, runtime: 6:17<\/a> and Hadith El Qahera | <a href=\"https:\/\/www.youtube.com\/watch?v=qRZy5h6x_To\">watch, runtime: 3:03<\/a>)<\/li>\n<li><strong>El Sisi meets Saudi FM:<\/strong> A meeting between President Abdel Fattah El Sisi and Saudi Foreign Minister Faisal bin Farhan Al Saud in Cairo got a mention from Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=DiNgu593RkU\">watch, runtime: 3:50<\/a>) and Kelma Akhira (<a href=\"https:\/\/www.youtube.com\/watch?v=NkQyk8kmY-0\">watch, runtime: 1:20<\/a>).<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ali-el-moselhy\/\">Ali El Moselhy<\/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\/customs\/\">customs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/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\/supply-ministry\/\">Supply Ministry<\/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=\"549138\" 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 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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=\"549139\">\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\/09\/05\/its-a-mixed-bag-in-the-foreign-press-this-morning\/\">\r\n                            It\u2019s a mixed bag in the foreign press this morning                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" 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<\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/05\/its-a-mixed-bag-in-the-foreign-press-this-morning\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549139\" class=\"content-area-description single-story post-549139 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-culture tag-economy tag-energy tag-enterpriseam tag-environment tag-gender tag-renewables tag-retail wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>No single story is dominating the conversation on Egypt internationally this morning.<\/strong> Here\u2019s a selection of stories getting ink in one form or another:<\/p>\n<ul>\n<li><strong>Retailers and manufacturers have been struggling<\/strong> to stay afloat amid import restrictions and a USD shortage. (<a href=\"https:\/\/www.thenationalnews.com\/mena\/egypt\/2022\/09\/03\/egypts-retail-and-industry-sectors-feel-the-heat-from-dollar-shortage\/\">The National<\/a>)<\/li>\n<li><strong>Solar power is a rich man\u2019s game: <\/strong>Hefty upfront costs and bureaucracy are scaring citizens away from installing their own solar panels despite government encouragement. (<a href=\"https:\/\/www.economist.com\/middle-east-and-africa\/2022\/09\/01\/why-egypts-plans-for-solar-power-are-left-in-the-shade\">Economist<\/a>)<\/li>\n<li><strong>Slim pickings: <\/strong>The Qarun Lake\u2019s deteriorating fish stock is putting fishermen\u2019s livelihoods at risk and pollution may be to blame. (<a href=\"https:\/\/www.reuters.com\/world\/africa\/pollution-erodes-fish-stocks-livelihoods-egyptian-lake-2022-09-01\/\">Reuters<\/a>)<\/li>\n<li><strong>Sahel in the spotlight: <\/strong>The upscale summer spot is garnering media attention and spawned a wealth of memes highlighting the nation\u2019s class divide. (<a href=\"https:\/\/www.thenationalnews.com\/mena\/egypt\/2022\/09\/02\/coastal-enclave-for-egypts-rich-makes-headlines-comes-under-media-scrutiny\/\">The National<\/a>)<\/li>\n<li><strong>No plans to demolish Taha Hussein\u2019s grave: <\/strong>Authorities have denied <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c89c74ec-d167-4c0b-9b8a-0d39452a1da3\">planning<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c89c74ec-d167-4c0b-9b8a-0d39452a1da3\">to demolish the grave<\/a> of famed Egyptian writer Taha Hussein to make way for a new road. (<a href=\"https:\/\/www.thenationalnews.com\/mena\/egypt\/2022\/09\/02\/cairo-denies-tomb-of-renowned-author-taha-hussein-will-be-demolished\/\">The National<\/a>)<\/li>\n<li><strong>Third woman murdered in less than three months:<\/strong> A man has shot and killed a woman in Menoufia Governorate who turned down his marriage proposal. (<a href=\"https:\/\/bit.ly\/3Qp6PIQ\">Sky News Arabia<\/a>)<\/li>\n<li><strong>Influencer Hadia Ghaleb\u2019s burkini line <\/strong>is said to be changing attitudes on modest swimwear. (<a href=\"https:\/\/www.thenationalnews.com\/mena\/egypt\/2022\/09\/04\/designer-burkini-makes-waves-and-changes-attitudes-at-egypts-luxury-resorts\/\">The National<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/culture\/\">culture<\/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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/environment\/\">environment<\/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\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/retail\/\">retail<\/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=\"549140\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549141\" 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=\"549141\">\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\/09\/05\/valu-wants-you-to-shop-by-whatsapp-and-we-have-new-solar-plants-coming-online-in-sharm-this-october\/\">\r\n                            valU wants you to shop by WhatsApp and we have new solar plants coming online in Sharm this October                        <\/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\/09\/05\/valu-wants-you-to-shop-by-whatsapp-and-we-have-new-solar-plants-coming-online-in-sharm-this-october\/\" 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\/09\/05\/valu-wants-you-to-shop-by-whatsapp-and-we-have-new-solar-plants-coming-online-in-sharm-this-october\/')\">\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\/09\/05\/valu-wants-you-to-shop-by-whatsapp-and-we-have-new-solar-plants-coming-online-in-sharm-this-october\/\">\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=valU wants you to shop by WhatsApp and we have new solar plants coming online in Sharm this October&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/05\/valu-wants-you-to-shop-by-whatsapp-and-we-have-new-solar-plants-coming-online-in-sharm-this-october\/\">\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\/09\/05\/valu-wants-you-to-shop-by-whatsapp-and-we-have-new-solar-plants-coming-online-in-sharm-this-october\/&title=valU wants you to shop by WhatsApp and we have new solar plants coming online in Sharm this October\">\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=valU+wants+you+to+shop+by+WhatsApp+and+we+have+new+solar+plants+coming+online+in+Sharm+this+October+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F05%2Fvalu-wants-you-to-shop-by-whatsapp-and-we-have-new-solar-plants-coming-online-in-sharm-this-october%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\/09\/05\/valu-wants-you-to-shop-by-whatsapp-and-we-have-new-solar-plants-coming-online-in-sharm-this-october\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549141\" class=\"content-area-description single-story post-549141 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-denmark tag-eastern-company tag-egis tag-egyptair tag-enterpriseam tag-food-and-beverage tag-gv-developments tag-hurghada tag-logistics tag-russia tag-sharm-el-sheikh tag-suez-canal-economic-zone tag-tarboul tag-valu wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>A bidding round for Borg El Arab dry port<\/strong><strong>?<\/strong> A consortium led by Alpha Capital is reportedly among companies planning to submit an offer in October to establish, operate and manage the dry port at Borg El Arab at an investment cost of USD 180 mn, Amr Ismail, head of the General Authority for Land and Dry Ports, is cited as saying by <a href=\"https:\/\/alborsaanews.com\/2022\/09\/03\/1573372\">Al Borsa<\/a>. Korea\u2019s CGN was reportedly being considered to manage the dry port back <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f86d5756-19ea-4647-b012-08d82d269b22\">in 2020<\/a>, though we\u2019ve heard nothing on the project\u2019s progress since.<\/p>\n<p>EFG Hermes\u2019 <strong>valU<\/strong> and <strong>PayTabs Egypt<\/strong> are working with chatbot startup <strong><a href=\"https:\/\/www.notchnco.com\/\">Notchnco<\/a><\/strong> to build out WhatsApp shopping services on valU, according to <a href=\"https:\/\/ent.news\/2022\/9\/valU-x-PayTabs-x-Notchnco-English.docx.pdf\">a statement<\/a><a href=\"https:\/\/ent.news\/2022\/9\/valU-x-PayTabs-x-Notchnco-English.docx.pdf\">(pdf)<\/a>.<\/p>\n<p><strong>Our friends at Infinity and <\/strong><strong><a href=\"https:\/\/www.hassanallam.com\/media-centre\/News\/details\/Developing-a-New-5-MW-solar-PV-power-plant-in-Sharm-El-Sheikh\">Hassan Allam Utilities<\/a><\/strong> as well as <strong>Intro Energy<\/strong> will inaugurate three solar plants with a combined generation capacity of 15 MW by the end of October in <strong>Sharm El Sheikh<\/strong>, according to <a href=\"https:\/\/alborsaanews.com\/2022\/09\/04\/1573821\">Al Borsa<\/a>.<\/p>\n<p><strong>President Abdel Fattah El Sisi has asked the government to reconsider indicative <\/strong><strong>supply prices ahead of the harvest season<\/strong> and look into adding financial incentives to the procurement prices, a <a href=\"https:\/\/bit.ly\/3cKDnz9\">statement<\/a>by Ittihadiya read. The directives come under the state\u2019s plan to support local farmers, it said.<\/p>\n<p><strong>REMEMBER- <\/strong>The government <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fef0998d-6737-4708-a4ed-777c791ea946\">said last week<\/a> it will pay farmers an indicative price of EGP 1k per ardeb of wheat next season, a hike of nearly 15% from the EGP 865-885 per ardeb it paid this year. Farmers had urged the government<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ee61f6b6-d6df-4fa9-b38b-2964b7f8589a\">earlier this year<\/a>to raise prices to EGP 1k to help the industry cope with inflation and meet production targets.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>It\u2019s official: Eastern\u2019s cigarettes just got pricier. <\/strong>Eastern Company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/95ce197b-5c51-4f48-ad7b-f1c26a1c5801\">has raised price points<\/a> for the second time <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7e9f4df4-51e0-46ba-bb1d-cb7930da4958\">since<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7e9f4df4-51e0-46ba-bb1d-cb7930da4958\">March<\/a> by EGP 1.5-2.5 per pack. (<a href=\"https:\/\/ent.news\/2022\/9\/%D8%A7%D9%8A%D8%B3%D8%AA%D8%B1%D9%86-%D8%A8%D9%8A%D8%A7%D9%86-04-09-2022.pdf\">Regulatory filing, pdf<\/a>).<\/li>\n<li>Real estate developer<strong> GV Developments<\/strong> signed a MoU with French consulting and engineering firm <strong>EGIS<\/strong> for the development of <strong><a href=\"https:\/\/tarboul.com\/\">Tarboul Industrial City<\/a><\/strong>. (<a href=\"https:\/\/www.egis-group.com\/all-news\/egis-signs-mou-for-the-development-of-tarboul-industrial-city\">Statement<\/a>)<\/li>\n<li><strong>EgyptAir<\/strong> began operating direct daily flights on Saturday between <strong>Moscow<\/strong> and popular tourist destinations <strong>Sharm El Sheikh<\/strong> and <strong>Hurghada<\/strong>. (<a href=\"https:\/\/bit.ly\/3RjAoN9\">Masrawy<\/a>)<\/li>\n<li>A delegation of <strong>Danish companies<\/strong> discussed investment opportunities with officials at the <strong>Suez Canal Economic Zone<\/strong>. (<a href=\"https:\/\/tinyurl.com\/puct7rv9\">Statement<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/denmark\/\">Denmark<\/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\/egis\/\">Egis<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptair\/\">EgyptAir<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food-and-beverage\/\">food and beverage<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gv-developments\/\">GV Developments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hurghada\/\">Hurghada<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sharm-el-sheikh\/\">Sharm El Sheikh<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-economic-zone\/\">Suez Canal Economic Zone<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tarboul\/\">Tarboul<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/valu\/\">ValU<\/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=\"549142\" 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=\"549142\">\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\/09\/05\/central-banks-across-the-world-will-continue-hiking-interest-rates-this-week\/\">\r\n                            Central banks across the world will continue hiking interest rates this week                        <\/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\/09\/05\/central-banks-across-the-world-will-continue-hiking-interest-rates-this-week\/\" 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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Market watchers are anticipating rate hikes this week from the <strong>European Central Bank<\/strong> \u2014 which is widely expected to go for an uncharacteristically aggressive 75 bps hike \u2014 as well as in <strong>Canada<\/strong>, <strong>Australia<\/strong>, <strong>Chile<\/strong>, and at least <strong>five other countries<\/strong>. The <strong>US Federal Reserve<\/strong> will follow later this month, with most analysts forecasting a 50-basis-point increase or even another jumbo 75-bps hike.<\/p><p><strong>Global food prices dipped for a fifth consecutive month in August<\/strong>, thanks in part to the UN-backed agreement to re-open Ukrainian ports, an improved production outlook for some grain growers, and an easing of export restrictions in some countries, according to <a href=\"https:\/\/www.fao.org\/worldfoodsituation\/foodpricesindex\/en\/\">fresh data<\/a> from the UN Food and Agriculture Organization (FAO). The FAO food price index declined 2.7 points m-o-m to register 138.0 points in August \u2014 down from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0a531ab4-a71d-4b9e-a476-acd4be67475b\">March's<\/a> record high of 159.7 but still 10 points above where it was a year ago. Food prices have surged this year on the back of the war in Ukraine and Western sanctions on Russia, which have curbed the supply of basic foods and fertilizers and caused prices to surge.<\/p><p><strong>EM bond issuance was slightly less terrible in August:<\/strong> Emerging markets raised USD 3.1 bn in hard-currency sovereign bonds in August, rebounding from July when no new sales took place, according to Tellimer. This takes the total amount raised in the first eight months of the year to USD 61.5 bn, around half the amount in the same period in 2021. EM issuances have been hit this year as the fallout from the war in Ukraine and rising rates globally hit market sentiment.<\/p><p><strong>SIGN OF THE TIMES- <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a6ab3251-641a-4e2c-aa00-6b8486d10c68\">SPAC<\/a><\/strong><strong> investors will be in line for some USD 75 bn in redemptions over the <\/strong><strong>next six months<\/strong> as blank check firms reach their two-year expiry dates. (<a href=\"https:\/\/www.ft.com\/content\/adb3d472-afc0-4c62-83d1-7f1b4b718f89\">FT<\/a>)<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>9,997<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: -16.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 19.17<\/p>\n<\/td>\n<td>\n<p>Sell 19.28<\/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 (CIB)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 19.20<\/p>\n<\/td>\n<td>\n<p>Sell 19.26<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>11.25% deposit<\/p>\n<\/td>\n<td>\n<p>12.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>12,194<\/p>\n<\/td>\n<td>\n<p>+0.4% (YTD: +8.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>9,755<\/p>\n<\/td>\n<td>\n<p>+0.4% (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>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,394<\/p>\n<\/td>\n<td>\n<p>-0.6% (YTD: +6.2%)<\/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>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>3,924<\/p>\n<\/td>\n<td>\n<p>-1.1% (YTD: -17.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,281<\/p>\n<\/td>\n<td>\n<p>+1.9% (YTD: -1.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td>\n<p>3,544<\/p>\n<\/td>\n<td>\n<p>+2.5% (YTD: -17.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 93.02<\/p>\n<\/td>\n<td>\n<p>+0.7%<\/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 8.79<\/p>\n<\/td>\n<td>\n<p>-5.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,722.60<\/p>\n<\/td>\n<td>\n<p>+0.8%<\/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>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 19,853<\/p>\n<\/td>\n<td>\n<p>+0.4% (YTD: -57.0%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 rose 0.6% at yesterday\u2019s close<\/strong> on turnover of EGP 920.6 mn (5.3% above the 90-day average). Foreign investors were net sellers. The index is down 16.3% YTD.<\/p><p><strong>In the green: <\/strong>Madinet Nasr Housing (+5.5%), Ezz Steel (+3.2%) and Eastern Company (+3.0%).<\/p><p><strong>In the red: <\/strong>Rameda (-2.8%), Telecom Egypt (-1.0%) and CIB (-0.4%).<\/p><p><strong>Asian markets are mixed this morning<\/strong>, with major indexes in Japan, Shanghai and Hong Kong in the red while Korea\u2019s Kospi and Australia\u2019s ASX are in the green. Futures suggest the Euro Stoxx 50, Frankfurt\u2019s DAX 30, and the FTSE 100 will all open in the red later today, with just Paris\u2019 CAC 40 bucking the trend. The New York Stock Exchange and Toronto Stock Exchange are closed today for the labor day holiday.<\/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\/cryptocurrency\/\">cryptocurrency<\/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\/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\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/spacs\/\">SPACs<\/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=\"549143\" 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=\"549143\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/05\/the-us-is-escalating-its-tech-war-with-china\/\">\r\n                            The US is escalating its tech war with China                        <\/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\/09\/05\/the-us-is-escalating-its-tech-war-with-china\/\" 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\/09\/05\/the-us-is-escalating-its-tech-war-with-china\/')\">\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\/09\/05\/the-us-is-escalating-its-tech-war-with-china\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The US is escalating its tech war with China&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/05\/the-us-is-escalating-its-tech-war-with-china\/\">\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\/09\/05\/the-us-is-escalating-its-tech-war-with-china\/&title=The US is escalating its tech war with China\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+US+is+escalating+its+tech+war+with+China+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F05%2Fthe-us-is-escalating-its-tech-war-with-china%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\/09\/05\/the-us-is-escalating-its-tech-war-with-china\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549143\" class=\"content-area-description single-story post-549143 post type-post status-publish format-standard hentry category-around-the-world tag-around-the-world tag-china tag-enterpriseam tag-greece tag-human-rights tag-turkey tag-un wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The US just stepped up tech sanctions on China:<\/strong> The Biden administration has slapped a ban on US chip companies selling AI semiconductors to China as it steps up its tech war against Beijing. Nvidia and AMD both said last week that Washington is preventing them from exporting certain chips to companies in China in the latest in a series of recent moves by the Biden administration to stunt Chinese tech development. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-09-02\/us-deals-heavy-blow-to-china-tech-ambitions-with-nvidia-chip-ban?sref=mmeFTDW1\">Bloomberg<\/a>, <a href=\"https:\/\/www.reuters.com\/technology\/amd-says-us-told-it-stop-shipping-top-ai-chip-china-2022-08-31\/\">Reuters<\/a> and <a href=\"https:\/\/www.ft.com\/content\/ebcac5e4-f45d-418f-a617-95f1a944bc73\">the Financial Times<\/a> have more.<\/p>\n<p><strong>FROM THE DEPT OF \u201cWTF?\u201d Foreign passport holders in the West Bank are now legally <\/strong><strong>required to tell Israeli authorities if they\u2019re romantically <\/strong><strong>involved with a Palestinian<\/strong> as a condition of entry. The new rule came into effect today. (<a href=\"https:\/\/www.washingtonpost.com\/world\/2022\/09\/03\/west-bank-israel-rules-relationships-palestinians\/\">Washington Post<\/a>)<\/p>\n<p><strong>Also worth knowing this morning:<\/strong><\/p>\n<ul>\n<li><strong>Turkish President Recep Tayyip Erdogan cautions Greece not to \u201cgo too <\/strong><strong>far\u201d <\/strong>as territorial tensions escalate between the two NATO members. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-09-03\/turkey-s-president-erdogan-warns-greece-not-to-go-too-far#xj4y7vzkg\">Bloomberg<\/a>)<\/li>\n<li><strong>A Turkish warship has docked in Israel for the first time in over a decade <\/strong>as bilateral relations continue to improve. (<a href=\"https:\/\/www.reuters.com\/world\/middle-east\/turkish-warship-docks-israel-bilateral-ties-warm-2022-09-04\/\">Reuters<\/a>)<\/li>\n<li><strong>The UN has accused China of committing \u201cserious human rights violations\u201d against U<\/strong><strong>yghur Muslims<\/strong> and called alleged acts of torture constituted \u201ccrimes against humanity.\u201d (<a href=\"https:\/\/www.ohchr.org\/sites\/default\/files\/documents\/countries\/2022-08-31\/22-08-31-final-assesment.pdf\">OHCHR, pdf<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/around-the-world\/\">Around the World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/greece\/\">Greece<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/un\/\">UN<\/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=\"549144\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27466.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into education in Egypt, from K-12 to post-secondary.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27480.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Monday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/blackboard\/\">\r\n                            Read Blackboard                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">11<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/why-investors-are-jumping-on-the-preschool-bandwagon\/\">\r\n                            Why investors are jumping on the preschool bandwagon<\/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\/why-investors-are-jumping-on-the-preschool-bandwagon\/\" 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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This growth has been in the making for years, particularly as nurseries and preschools often <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/35a8e116-06f7-4ed3-bb39-730b3098d57a\">act as (often expensive) gateway institutions<\/a> for the country\u2019s top private and international schools, as we\u2019ve reported previously.<\/p>\n<p><strong>Where things currently stand: <\/strong>The pre-K landscape in Egypt is made up of mostly informal nurseries of varying standards, approaches, and fees \u2014 which can vary from around EGP 500 per month up to EGP 10k, according to the head of the <strong>Social Solidarity Ministry<\/strong>\u2019s early childhood sector, Mohsen Mohamed. There are currently 16k nurseries in Egypt, 10k of which need to be granted licenses by \u201creconciling their conditions\u201d \u2014 which means abiding by licensing requirements of following standard specs for the facility, such as the type of building, the degree of ventilation and the employees\u2019 qualifications, Mohamed tells Enterprise.<\/p>\n<p><strong>But that\u2019s not enough to keep up with demand \u2014 creating a new niche for private sector players:<\/strong> \u201cIf we have a shortage in K-12 schools, multiply this by three for pre-K,\u201d says Mohamed El Kalla, CEO of EGX-listed education leader <strong>CIRA<\/strong>. The pre-school landscape is \u201cpretty fragmented, with massive opportunity to offer a rigid, solid, sustainable, quality offering,\u201d says <strong>Egypt Education Platform<\/strong> (EEP)\u2019s Ahmed Wahby. The market is underserved when it comes to preschools that offer the right quality for the Egyptian consumer, he explains. \u201cAnd it's a growing market by default, by virtue of the population growth,\u201d he adds.<\/p>\n<p><strong>It's excellent timing to enter the market because competition for quality education is very minimal<\/strong>, says Dina Abdel Wahab, founder of early education startup <strong>Innovette for Education<\/strong> and an early childhood education pioneer. \u201cThere\u2019s a lot of opportunity in Egypt, the Middle East, and Africa,\u201d she says.<\/p>\n<p><strong>Considering the dearth of pre-K options, the greenfield approach is currently king: <\/strong>CIRA <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d3aefb52-9147-4551-b3fa-bf3ccb80bbbf\">acquired last year<\/a> a 51% stake in Innovvette, with plans to invest some EGP 50 mn to expand Innovette\u2019s footprint as it looks to start 25 nurseries within five years. \u201cWe didn\u2019t think the need in Egypt was for acquisitions, because the sector is already underserved,\u201d El Kalla told Enterprise. CIRA\u2019s approach is focused on \u201cenriching the sector and adding more nurseries because the seats are currently very limited,\u201d he said.<\/p>\n<p><strong>That was also the approach for EEP<\/strong>, which <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fa6bd320-d578-4617-8e75-cafef9690dc3\">acquired<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fa6bd320-d578-4617-8e75-cafef9690dc3\">a majority stake<\/a> in Montessori preschool chains <strong>Trillium and Petals<\/strong> last year. \u201cWe believe we have to complement our portfolio not only with the schools, but also with preschools to ensure that we have a pipeline at any point of market entry,\u201d he said. Getting in on the nursery sector also gives education management companies a chance to be part of the students\u2019 enrollment cycle from beginning to end, Wahby told us.<\/p>\n<p><strong>But finding the right partner is key: <\/strong>CIRA and EEP both emphasized the importance of finding the right partner to collaborate with. \u201cI really believe that pre-K specifically is all about the founder. It has to be a very hands-on person, because the liability is huge,\u201d El Kalla says, adding that they found the qualities they were looking for in Innovette\u2019s Abdel Wahab. For EEP, going into the preschool world was a combination of a strategic choice, the right brand and equity, and a great partner to work with, Wahby said. \u201cThe founder of Trillium and Petals, Sherin Ibrahim, is one of the most well-known people in the preschool industry in Egypt, so partnering with her was definitely the right decision,\u201d he says.<\/p>\n<p><strong>Beyond the investment appeal, preschool education has social and economic impact. <\/strong>Quality pre-kindergarten produces a confident, outspoken generation who can think out of the box, points out Abdel Wahab. \u201cThe first years are key in character and brain development,\u201d she points out. It can have a profoundly beneficial effect on the development of the country and its future, she adds. \u201cI'm seeing demand across all segments and specifically in the current economic conditions where women need to enter the workplace,\u201d says El Kalla. There\u2019s a plethora of academic gains as well, he points out. It\u2019s easier for children who went to preschool to access schools, and they tend to do better at school interviews, he points out.<\/p>\n<p><strong>Critically, the government is working to make it more appealing for private sector investments<\/strong> for the under four-year-old age group, which is a critical stage, said Mohamed. The government is looking to support companies that will set up nurseries of a large size, and will reportedly allocate EGP 50 mn as a loan portfolio for the establishment of licensed nurseries, according to Mohamed.<\/p>\n<p><strong>Part of this plan lies in creating a more regulated system:<\/strong> The government is looking to introduce a special generalized curriculum for all preschools, with the Education Ministry <a href=\"https:\/\/bit.ly\/3QLGHIw\">signing<\/a> last year an agreement with <a href=\"https:\/\/discoveryeducation.ekb.eg\/about\/\">Discovery Education<\/a> to implement a curriculum that complies with international standards for a period of 4-6 years, Mohamed told us. The new curriculum will be introduced in all preschools, including international, private, and government-supported nurseries in 1H 2023, he explained. It includes international foundations to ensure that children receive behavioral foundations and are taught different languages \u200b\u200band skills, as well as foundations for preserving identity and promoting belonging, Mohamed added. The new system also includes raising the capabilities of preschool teachers so that they are eligible for accreditation, he said.<\/p>\n<p><strong>This regulation is sitting well with private sector players:<\/strong> \u201cThe problem lies in having a proper service provision, a specific level of standard and a corporate approach,\u201d El Kalla says. This gap is exactly what the standardized system is looking to address, Mohamed explained.<\/p>\n<p><strong>Room for growth outside of Cairo: <\/strong>CIRA and Innovvette decided to set their eyes beyond the capital, and set up additional nurseries in Suez and Fayoum, in addition to other areas, and demand has been booming. \u201cWe are already at 70% capacity in Fayoum,\u201d Abdel Wahab says. \u201cMy biggest return on investment may not come from Fayoum, but that is okay, because I have other branches bringing in returns.\u201d<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top education stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Edtech startup Emonovo raised an <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/87b04148-300d-4c8e-8c06-c620af499a29\">undisclosed bridge round<\/a><\/strong> led by a number of regional and international angel investors and Flat6Labs.<\/li>\n<li><strong>The Higher Education Ministry has launched an initiative to boost teacher <\/strong><strong>training<\/strong> with the Islamic World Educational, Scientific and Cultural Organization and the Saleh A. Kamel Humanitarian Foundation. (<a href=\"https:\/\/www.facebook.com\/MOHESREGYPT\/posts\/pfbid0348qnFf15qHPDsqTsckAYGzHNDsz8kNsXotx9EJXnPrJPW13jg6uP5tADCAxsy4kyl\">Statement<\/a>)<\/li>\n<li><strong>Parents stocked up on supplies <\/strong>at a Cairo back-to-school exhibition. (The National)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cira-education\/\">CIRA Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eep\/\">EEP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/innovette\/\">Innovette<\/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=\"549146\" 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\/09\/05\/549146\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549146\" class=\"content-area-description single-story post-549146 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>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>5 September (Monday): 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>5 September (Monday): OPEC+ meets to decide on production levels for October.<\/p>\n<p>5-8 September (Monday-Thursday): <a href=\"https:\/\/www.gastechevent.com\/\">Gastech 2022<\/a>, Milan, Italy.<\/p>\n<p>6-9 September (Tuesday-Friday): Gate Travel Expo 2022, El Qubba Palace, Cairo.<\/p>\n<p>7-9 September (Wednesday-Friday): Second edition of <a href=\"https:\/\/egypticf-africanministers.com\/\">Egypt-ICF<\/a>at Almasa Convention Center at the New Administrative Capital + African<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid034TbdNfjuu5yHr2NAycih1ggLyA8CPUgnE4AB8MF3SD1Zpv5rTvBmitm7sb4GyiqDl\">Finance Ministers meeting<\/a> to coordinate an African-led position during COP27.<\/p>\n<p>8 September (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>11-13 September (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): <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>15 September (Thursday): The <a href=\"https:\/\/hapijournal.com\/?p=204835\">deadline for receiving<\/a> offers for the renovation of the historic Grand Continental Hotel.<\/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 potential investments 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&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>4-8 October (Tuesday-Saturday): The Chemical and Fertilizers Export Council of the Trade and Industry Ministry is organizing <a href=\"https:\/\/bit.ly\/3Q6Gkr7\">a trade mission to Kenya<\/a>.<\/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>24 January-6 February: The 54th Cairo International Book Fair, Egypt International Exhibition Center<\/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>4Q 2022: Electricity Ministry to tender six solar projects in Aswan Governorate.<\/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\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":549127,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-549126","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"5ac8d1e4-0666-4b82-a345-3d614fea4ff3","teaser":"","photo_url":"https:\/\/ent.news\/2022\/9\/5.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>Abdalla, cabinet coordinating fiscal and monetary policy as IMF talks continue - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/abdalla-cabinet-coordinating-fiscal-and-monetary-policy-as-imf-talks-continue\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Abdalla, cabinet coordinating fiscal and monetary policy as IMF talks continue\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/abdalla-cabinet-coordinating-fiscal-and-monetary-policy-as-imf-talks-continue\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T22:30:40+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/5.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\/abdalla-cabinet-coordinating-fiscal-and-monetary-policy-as-imf-talks-continue\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/abdalla-cabinet-coordinating-fiscal-and-monetary-policy-as-imf-talks-continue\/\",\"name\":\"Abdalla, cabinet coordinating fiscal and monetary policy as IMF talks continue - 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