{"id":549157,"date":"2022-09-06T04:00:23","date_gmt":"2022-09-06T04:00:23","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=549157"},"modified":"2025-12-15T22:31:32","modified_gmt":"2025-12-15T22:31:32","slug":"three-gcc-sovereign-wealth-funds-have-their-eye-on-tes-stake-in-vodafone-egypt","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/three-gcc-sovereign-wealth-funds-have-their-eye-on-tes-stake-in-vodafone-egypt\/","title":{"rendered":"Three GCC sovereign wealth funds have their eye on TE\u2019s stake in Vodafone Egypt"},"content":{"rendered":"<section id=\"549159\" 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=\"549159\">\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\/06\/this-morning-palestinian-president-in-cairo-for-summit-europes-energy-crisis-just-got-taken-up-a-notch\/\">\r\n                            THIS MORNING: Palestinian president in Cairo for summit + Europe\u2019s energy crisis just got taken up a notch                        <\/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\/06\/this-morning-palestinian-president-in-cairo-for-summit-europes-energy-crisis-just-got-taken-up-a-notch\/\" 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\/06\/this-morning-palestinian-president-in-cairo-for-summit-europes-energy-crisis-just-got-taken-up-a-notch\/')\">\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\/06\/this-morning-palestinian-president-in-cairo-for-summit-europes-energy-crisis-just-got-taken-up-a-notch\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=THIS MORNING: Palestinian president in Cairo for summit + Europe\u2019s energy crisis just got taken up a notch&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/this-morning-palestinian-president-in-cairo-for-summit-europes-energy-crisis-just-got-taken-up-a-notch\/\">\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\/06\/this-morning-palestinian-president-in-cairo-for-summit-europes-energy-crisis-just-got-taken-up-a-notch\/&title=THIS MORNING: Palestinian president in Cairo for summit + Europe\u2019s energy crisis just got taken up a notch\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=THIS+MORNING%3A+Palestinian+president+in+Cairo+for+summit+%2B+Europe%E2%80%99s+energy+crisis+just+got+taken+up+a+notch+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F06%2Fthis-morning-palestinian-president-in-cairo-for-summit-europes-energy-crisis-just-got-taken-up-a-notch%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\/06\/this-morning-palestinian-president-in-cairo-for-summit-europes-energy-crisis-just-got-taken-up-a-notch\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549159\" class=\"content-area-description single-story post-549159 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-diplomacy tag-energy tag-enterpriseam tag-europe tag-mahmoud-abbas tag-palestine tag-politics tag-russia tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Good morning, everyone, and happy hump day. <\/strong><\/p><p><strong>THE BIG STORY here at home this morning is that not one, but three, GCC sovereign <\/strong><strong>wealth funds are eyeing TE\u2019s stake in Vodafone Egypt. <\/strong>We also think you should read today\u2019s Going Green feature, which looks at how climate change is impacting small dairy farmers \u2014 the people who account for the majority of the milk our nation produces.<\/p><p>^^ We have both stories and plenty more below.<\/p><p><strong>Welcome back, US and Canadian readers. <\/strong>We hope you enjoyed your Labor Day holiday \u2014 and that you\u2019re now settling comfortably into the fall grind. It really is the best season of the year for you folks (all the more so if you live at a latitude that allows you to enjoy fall foliage).<\/p><p><a id=\"tldr-story-06\" class=\"content-anchor\"><\/a> <strong>*** You have just<\/strong><strong> three days <\/strong><strong>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><p><strong>HAPPENING TODAY-<\/strong><\/p><p><strong>Palestinian President Mahmoud Abbas is in Cairo for an Egyptian-Palestinian summit<\/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>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><p><strong>US climate envoy John Kerry will be in town tomorrow<\/strong> for the <a href=\"https:\/\/egypticf-africanministers.com\/\">Egypt-International<\/a> <a href=\"https:\/\/egypticf-africanministers.com\/\">Cooperation Forum (Egypt-ICF)<\/a>, which runs 7-9 September at Almasa Convention Center in the new administrative capital. The three-day event will bring together global policymakers, ministers, development partners and other participants ahead of COP27 to discuss climate action and green transition, food security, and others with a focus on Africa. <a href=\"https:\/\/egypticf-africanministers.com\/wp-content\/uploads\/2022\/09\/Egypt-ICF-2022-Agenda-September-2-1.pdf\">Check the full agenda here (pdf)<\/a>.<\/p><p><strong>Tourism expo starts tomorrow:<\/strong> The four-day <a href=\"https:\/\/www.gattravelexpo.com\/\">Gate Travel Expo 2022<\/a> starts tomorrow at El Qubba Palace.<\/p><p><strong>Support measures coming for local commercial ships?<\/strong> Transport Minister Kamel El Wazir will hold a meeting this week with the maritime transport sector and private shipping companies to discuss ways to boost the commercial fleet, <a href=\"https:\/\/bit.ly\/3REHo6O\">Al Mal<\/a> reports, citing an unnamed source.<\/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 BIG STORY ABROAD-<\/strong><\/p><p><a id=\"tldr-story-07\" class=\"content-anchor\"><\/a> <strong>Chaos has returned to the European energy markets<\/strong> on the first trading day since Gazprom said it would be indefinitely shuttering the vital Nord Stream gas pipeline. Gas and power prices soared, equities tumbled, and the EUR hit a fresh 20-year low against the greenback as markets freaked out about the escalating energy crisis and its implication for eurozone economies. The move \u2014 the latest round in a tit-for-tat energy war with Russia that came shortly after the G7 agreed to cap Russian oil prices \u2014 has forced Brussels into considering unprecedented measures to curb the crisis, including emergency caps on wholesale prices and hundred-bn EUR bailout packages to prevent utilities companies and household finances from collapsing. (<a href=\"https:\/\/www.reuters.com\/business\/energy\/eu-races-help-industry-russian-gas-halt-rattles-markets-2022-09-05\/\">Reuters<\/a> | <a href=\"https:\/\/www.ft.com\/content\/49552516-0788-46a1-9c0a-d906fd8d6388\">FT<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-09-05\/can-europe-s-375-billion-in-relief-keep-households-warm-enough?srnd=premium-europe\">Bloomberg<\/a> | <a href=\"https:\/\/www.politico.eu\/article\/eu-plans-energy-prices-leyen-michel-russia-war-ukraine-electricity-crisis-nord-stream-gas\/\">Politico<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/russias-nord-stream-pipeline-closure-lands-economic-blow-against-europe-11662388752?mod=hp_lead_pos2\">WSJ<\/a>)<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/Zoolander-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>And in its most escalatory move yet: Moscow slapped sanctions on Zoolander.<\/strong> Ben Stiller and Sean Penn <a href=\"https:\/\/www.politico.eu\/article\/fockers-ben-stiller-sean-penn-ban-russia\/\">have been permanently banned<\/a> from entering Russia for showing support for Kyiv\u2019s war effort. The White House is yet to comment on how it might respond to the latest escalation.<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>The German-Arab Chamber of Industry and Commerce will commemorate 70 years<\/strong> of German-Egyptian business and economic ties with a <a href=\"https:\/\/ent.news\/2022\/8\/AHK-70th-Anniversary-01.pdf\">gala celebration<\/a> on 15 September.<\/p><p><strong>Our monthly list of data points<\/strong> to keep your eye on over the next few days and weeks:<\/p><ul>\n<li><strong>Foreign reserves<\/strong> figures for August should be out during the first week of the month.<\/li>\n<li><strong>Inflation figures:<\/strong> Inflation data for August from Capmas will land on Saturday, 10 September. Expect the Central Bank of Egypt to follow up on Sunday, 11 September with its inflation report.<\/li>\n<li><strong>Interest rates:<\/strong> The Central Bank of Egypt\u2019s Monetary Policy Committee meets on Thursday, 22 September to review interest rates.<\/li>\n<\/ul><p><strong>The National Dialogue\u2019s board of trustees will hold its next meeting on Saturday<\/strong> to name 30 rapporteurs and assistant rapporteurs for the dialogue\u2019s 15 political, social and economic subcommittees.<\/p><p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/INFINITY-Top-banner-EN-1600x675-v2-02.png?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p><p><strong>In today\u2019s issue:<\/strong> How the changing climate is threatening the future of Egypt\u2019s dairy farms.<\/p><hr class=\"grey-line\"><div class=\"stand-out\">\n<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>\n<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>\n<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>\n<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>\n<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>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/europe\/\">Europe<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mahmoud-abbas\/\">Mahmoud Abbas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palestine\/\">Palestine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/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=\"549160\" 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=\"549160\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/549160\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549160\" class=\"content-area-description single-story post-549160 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/somabay.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/SomabayEnduranceFestival-1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n<p>The Somabay Endurance Festival, organized by The TriFactory, returns this month for the fourth time. Featuring four different races that combine swimming, cycling, and running, as well as the 1K Kids Race (ages 5-10) and the 10K Race, the Somabay Endurance Festival has got something for everyone. Taking place from 29 September though 1 October, spots are running out for Egypt\u2019s favorite multi-sport event. To find out more and sign up, head to www.thetrifactory.com\/somabay.<\/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=\"549161\" 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=\"549161\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/three-gcc-sovereign-funds-have-their-eye-on-tes-stake-in-vodafone-egypt\/\">\r\n                            Three GCC sovereign funds have their eye on TE\u2019s stake in Vodafone Egypt                        <\/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\/06\/three-gcc-sovereign-funds-have-their-eye-on-tes-stake-in-vodafone-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/three-gcc-sovereign-funds-have-their-eye-on-tes-stake-in-vodafone-egypt\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/three-gcc-sovereign-funds-have-their-eye-on-tes-stake-in-vodafone-egypt\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Three GCC sovereign funds have their eye on TE\u2019s stake in Vodafone Egypt&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/three-gcc-sovereign-funds-have-their-eye-on-tes-stake-in-vodafone-egypt\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/three-gcc-sovereign-funds-have-their-eye-on-tes-stake-in-vodafone-egypt\/&title=Three GCC sovereign funds have their eye on TE\u2019s stake in Vodafone Egypt\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Three+GCC+sovereign+funds+have+their+eye+on+TE%E2%80%99s+stake+in+Vodafone+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F06%2Fthree-gcc-sovereign-funds-have-their-eye-on-tes-stake-in-vodafone-egypt%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\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\/06\/three-gcc-sovereign-funds-have-their-eye-on-tes-stake-in-vodafone-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/123.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"549162\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/three-gcc-sovereign-funds-have-their-eye-on-tes-stake-in-vodafone-egypt\/123-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/123.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"123.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/123.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/123.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549161\" class=\"content-area-description single-story post-549161 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-adq tag-enterpriseam tag-ma-watch tag-qatar tag-qatar-investment-authority tag-saudi-arabia tag-telecom-egypt tag-uae tag-vodafone-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Could Telecom Egypt\u2019s stake in Vodafone Egypt be in play?<\/strong> The Qatar Investment Authority (QIA), Saudi Arabia\u2019s Public Investment Fund, and Abu Dhabi\u2019s ADQ are all eyeing part of state-owned landline monopoly Telecom Egypt\u2019s stake in Vodafone Egypt, a source with first-hand knowledge of the matter confirmed to Enterprise. <a href=\"https:\/\/www.asharqbusiness.com\/article\/41386\">Bloomberg Asharq<\/a> reported earlier yesterday that QIA is looking to acquire as much as 25% of the company, citing three anonymous sources.<\/p>\n<p><strong>TE is open to selling up to a 20% stake in Vodafone Egypt \u201cat the right price<\/strong> that would bring maximum returns to shareholders,\u201d our source tells us. The EGX-listed telecoms giant holds a 45% stake in the company.<\/p>\n<p><strong>Nothing official yet: <\/strong>Talks are ongoing with the government \u2014 which owns 80% of EGX-listed TE \u2014 on the potential stake sale, the source said. TE has yet to receive an official bid from QIA or other sovereign funds, the company said in an <a href=\"https:\/\/ent.news\/2022\/9\/%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D9%84%D9%84%D8%A7%D8%AA%D8%B5%D8%A7%D9%84%D8%A7%D8%AA-%D8%A8%D9%8A%D8%A7%D9%86-05-09-2022.pdf\">EGX disclosure (pdf)<\/a> yesterday.<\/p>\n<p><strong>TE shares rose 15.8% to EGP 17.70 in trading yesterday <\/strong>following its disclosure. The EGX suspended intraday trading TE shares for ten minutes before publishing the disclosure, it said in a <a href=\"https:\/\/ent.news\/2022\/9\/Screenshot-2022-09-05-130019.pdf\">bulletin<\/a><a href=\"https:\/\/ent.news\/2022\/9\/Screenshot-2022-09-05-130019.pdf\">(pdf)<\/a>.<\/p>\n<p><strong>QIA has reportedly been eyeing several Egyptian companies:<\/strong> The fund is rumored to be planning looking at the EGX as an entry point to deploy capital as part of moves by our neighbors in the region to help shore up our economy with an influx of FDI. Local media outlets have reported that the Qatari fund is interested in purchasing stakes in Alexandria Containers and Eastern Company, though a source at Eastern\u2019s majority shareholder, Chemical Industries Holding (CIHC), <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dae4c989-925c-4e8d-8569-47c697d76ff6\">denied knowledge<\/a> of the talks when we reached out recently.<\/p>\n<p><strong>Other <\/strong><strong>Arab sovereign funds have been buying big:<\/strong> The Saudi <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/316415e5-ccc3-42ca-b442-80dd3b8b2e16\">Public Investment Fund<\/a> (PIF) and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b4a11664-2159-45ba-ba2f-bf0d3dfd3978\">ADQ<\/a> have invested bns of USD in a number of EGX-listed companies this year, with PIF reportedly still <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d7ef0109-f72e-4b5c-a44d-005328a1c284\">eyeing stakes<\/a> in at least three high profile Egyptian companies. Gulf state neighbors have pledged <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce28f2c9-69b3-4c78-b2ab-1eb5d194e101\">more than USD 22 bn<\/a> in total to support the economy amid the fallout from the crisis in Ukraine.<\/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\/adq\/\">ADQ<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qatar\/\">Qatar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qatar-investment-authority\/\">Qatar Investment Authority<\/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\/telecom-egypt\/\">Telecom Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vodafone-egypt\/\">Vodafone Egypt<\/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=\"549163\" 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=\"549163\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/private-sector-downturn-eases-in-august-amid-softening-inflation\/\">\r\n                            Private sector downturn eases in August amid softening inflation                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/private-sector-downturn-eases-in-august-amid-softening-inflation\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/private-sector-downturn-eases-in-august-amid-softening-inflation\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/private-sector-downturn-eases-in-august-amid-softening-inflation\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Private sector downturn eases in August amid softening inflation&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/private-sector-downturn-eases-in-august-amid-softening-inflation\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/private-sector-downturn-eases-in-august-amid-softening-inflation\/&title=Private sector downturn eases in August amid softening inflation\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Private+sector+downturn+eases+in+August+amid+softening+inflation+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F06%2Fprivate-sector-downturn-eases-in-august-amid-softening-inflation%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/private-sector-downturn-eases-in-august-amid-softening-inflation\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/126.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"549164\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/private-sector-downturn-eases-in-august-amid-softening-inflation\/126-jpg-15\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/126.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"126.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/126.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/126.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549163\" class=\"content-area-description single-story post-549163 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-enterpriseam tag-inflation tag-pmi wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Activity in Egypt\u2019s non-oil private sector contracted at a slower pace in August on a <\/strong><strong>relative easing of inflationary pressures<\/strong>, according to S&P Global\u2019s latest <a href=\"https:\/\/ent.news\/2022\/9\/Egypt-PMI-August-English.pdf\">purchasing managers\u2019 index (pdf)<\/a>. Output and new orders inched higher for the second consecutive month from June's lows as clients\u2019 spending constraints began to relax. The index rose to 47.6 last month, up from 46.4 in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/592ef015-c7d0-4128-a446-982e576e7eeb\">July<\/a> \u2014 its highest reading since February, though still well below the 50.0 threshold that separates growth from contraction. This is the 21st consecutive month that the gauge suggests activity in Egypt\u2019s private sector has declined.<\/p>\n<p><strong>T<\/strong><strong>he outlook remains uncertain:<\/strong> August's PMI shows a \u201cmove in the right direction with the headline index up for the second month running,\u201d said S&P Global economist <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bae3738e-2a55-4d28-87ee-7289e160fc9e\">David Owen<\/a>. \u201cMonetary policy uncertainty, a weakening exchange rate, and the continued war in Ukraine mean there are still high levels of risk for the economy over the rest of 2022,\u201d he said.<\/p>\n<p><strong>I<\/strong><strong>nput cost pressures eased: <\/strong>Input costs rose at a slower pace in August, although raw material supplies continue to be impacted by pressure on the EGP and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e5a82293-8788-40a3-8c32-1f62af2500f4\">import restrictions<\/a> aimed at keeping foreign currency in the country. Input purchase levels dropped for the eighth successive month as companies curb their spending due to weak sales.<\/p>\n<p><strong>New orders continued to decline, but at a slower pace: <\/strong>Businesses continued to see a drop in client demand, though new orders decreased at the softest rate since April, leading to a slower fall in output. End prices for products and services continued to record \u201csolid\u201d rises in August, though also at a much slower rate.<\/p>\n<p><strong>What do you mean \u201ceasing inflationary pressures,\u201d S&P? <\/strong>Inflation in the wider economy reached a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/43fc629c-c572-49e8-9404-6b508e9b3248\">three-year high<\/a> of 13.6% y-o-y in July \u2014 largely on the back of higher food and fuel prices. That said, global commodities markets have on the whole been cooling as the immediate impacts of war in Ukraine subside, which could explain the relative easing of cost increases in the private sector in August compared with July, economist Mona Bedeir tells Enterprise. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5f0f5186-ad0c-49ca-8eb6-bd47cd2f4504\">Most analysts<\/a> are expecting the reprieve to be short-lived, predicting inflation to continue rising through the rest of the year as underlying pressures remain high.<\/p>\n<p><strong>Some good news on hiring:<\/strong> Hiring picked up at its fastest rate since October 2019, as firms brought on staff to make up for job cuts earlier in the year. Meanwhile, wage costs decreased for the first time in five months despite record-high inflation.<\/p>\n<p><strong>Businesses are still wary: <\/strong>Confidence fell to their lowest level on record barring last <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/601312ea-2a96-485a-83db-cae4a0955962\">March<\/a>, with only 9% of companies forecast output growth over the coming year. Weak market conditions, high inflation and supply issues dampened expectations on the business outlook.<\/p>\n<p><strong>In the foreign press:<\/strong> <a href=\"https:\/\/www.reuters.com\/business\/energy\/egypt-non-oil-activity-continues-shrink-with-weak-outlook-2022-09-05\/\">Reuters<\/a> is stressing the doom and gloom in its report on this month\u2019s PMI, while <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-09-05\/two-biggest-gulf-economies-boom-and-turn-the-corner-on-inflation#xj4y7vzkg\">Bloomberg<\/a> is more optimistic, emphasizing strong readings out of the Gulf and the softening contraction here.<\/p>\n<p><strong>FROM THE REGION \u2013<\/strong><\/p>\n<p><strong>UAE output at 3+ year high:<\/strong> Private sector activity in the UAE continued to grow in August as output rose at the fastest rate since June 2019. The <a href=\"https:\/\/ent.news\/2022\/9\/UAE-PMI-August-English.pdf\">PMI (pdf)<\/a> rose to 56.7 from 55.4 in July in response to an increase in demand and new orders on the back of lower fuel prices and slowing inflation.<\/p>\n<p><strong>BUT- Confidence fell to its lowest level in 17 months<\/strong> due to fears of an oncoming global recession.<\/p>\n<p><strong>Saudi private sector growth hits 10-month high:<\/strong> Growth in the Saudi private sector picked up pace in August, with the <a href=\"https:\/\/ent.news\/2022\/9\/Saudi-PMI-August-English.pdf\">PMI (pdf)<\/a> rising to 57.7 from 56.3 in July \u2014 its highest since October last year. Purchasing saw its sharpest uptick in seven years, backed by high demand and strengthened business activity, providing further evidence of the resilience of the Saudi economy amid global growth fears.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549165\" 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=\"549165\">\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\">Banking<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/cib-plans-record-capital-increase\/\">\r\n                            CIB plans record capital increase                        <\/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\/06\/cib-plans-record-capital-increase\/\" 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\/06\/cib-plans-record-capital-increase\/')\">\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\/06\/cib-plans-record-capital-increase\/\">\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=CIB plans record capital increase&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/cib-plans-record-capital-increase\/\">\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\/06\/cib-plans-record-capital-increase\/&title=CIB plans record capital increase\">\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=CIB+plans+record+capital+increase+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F06%2Fcib-plans-record-capital-increase%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\/06\/cib-plans-record-capital-increase\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549165\" class=\"content-area-description single-story post-549165 post type-post status-publish format-standard hentry category-banking tag-banking tag-cib tag-egx tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>EGX-listed private sector giant CIB is planning a multi-bn EGP capital increase<\/strong> that would raise its capital by around a third. The bank submitted documents to the EGX yesterday and the bourse is studying the proposal, it said, according to an <a href=\"https:\/\/ent.news\/2022\/9\/Screen-Shot-2022-09-05-at-10.13.57-PM.jpg\">EGX bulletin<\/a> yesterday.<\/p>\n<p><strong>The plan:<\/strong> CIB would issue EGP 10 bn in new shares to shareholders, raising its capital to EGP 29.82 bn from EGP 19.85 bn currently. The bank would issue 1 bn shares at EGP 10 apiece to be covered by the general reserves for the period ended 31 December 2021.<\/p>\n<p><strong>Market reax: <\/strong>Traders didn\u2019t get a chance to respond to the news yesterday because the EGX published the bulletin after the closing bell.<\/p>\n<p><strong>Earnings: CIB\u2019s net income rose 9% y-o-y to EGP 3.5 bn in 2Q 2022<\/strong> as demand for short-term credit picked up, according to the bank\u2019s latest <a href=\"https:\/\/ent.news\/2022\/7\/H1-2022-Press-Release1.pdf\">earnings release (pdf)<\/a>. The bank recorded revenues of EGP 6.9 bn, up 8% from the same period last year. On a 1H 2022 basis, the bank reported net income of EGP 7.8 bn (+28% y-o-y) on revenues of EGP 14.7 bn (+16% y-o-y).<\/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\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/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=\"549166\" 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=\"549166\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/americana-to-invest-usd-26-mn-in-egypt\/\">\r\n                            Americana to invest USD 26 mn in Egypt                        <\/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\/06\/americana-to-invest-usd-26-mn-in-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/americana-to-invest-usd-26-mn-in-egypt\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/americana-to-invest-usd-26-mn-in-egypt\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Americana to invest USD 26 mn in Egypt&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/americana-to-invest-usd-26-mn-in-egypt\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/americana-to-invest-usd-26-mn-in-egypt\/&title=Americana to invest USD 26 mn in Egypt\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Americana+to+invest+USD+26+mn+in+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F06%2Famericana-to-invest-usd-26-mn-in-egypt%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\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\/06\/americana-to-invest-usd-26-mn-in-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549166\" class=\"content-area-description single-story post-549166 post type-post status-publish format-standard hentry category-investment-watch tag-americana-egypt tag-enterpriseam tag-food-and-beverage tag-investment-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Americana Egypt to expand food production: <\/strong>F&B conglomerate Americana is planning to invest USD 26 mn in new food production lines in Egypt, Vice Chairman Ihab Hajjaj said during a sit-down with General Authority for Investment and Freezones (GAFI) CEO Mohamed Abdel Wahab, cabinet <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0uAZpuqd8BvQQWxyB4M3tihaCEdjapJjpCREqvFLuS1fJg686hXUqzyUW8frBHUjxl\">said<\/a> yesterday. The increased capacity would be directed to the local market and to target new markets for export, especially Gulf countries.<\/p>\n<p><strong>SOUND SMART-<\/strong> Parent company Americana Group, which runs the KFC and Pizza Hut franchises across MENA, earlier this summer tapped several big-name banks to work on its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7842c294-6fdb-4941-a8a2-c1faf757a3c3\">planned IPO<\/a>, which could take the form of a dual listing in Riyadh and Abu Dhabi and raise as much as USD 1 bn.<\/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\/americana-egypt\/\">Americana Egypt<\/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\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549167\" 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=\"549167\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/aman-microfinance-in-talks-for-egp-1-bn-facility\/\">\r\n                            Aman Microfinance in talks for EGP 1 bn facility                        <\/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\/06\/aman-microfinance-in-talks-for-egp-1-bn-facility\/\" 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\/06\/aman-microfinance-in-talks-for-egp-1-bn-facility\/')\">\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\/06\/aman-microfinance-in-talks-for-egp-1-bn-facility\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Aman Microfinance in talks for EGP 1 bn facility&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/aman-microfinance-in-talks-for-egp-1-bn-facility\/\">\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\/06\/aman-microfinance-in-talks-for-egp-1-bn-facility\/&title=Aman Microfinance in talks for EGP 1 bn facility\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Aman+Microfinance+in+talks+for+EGP+1+bn+facility+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F06%2Faman-microfinance-in-talks-for-egp-1-bn-facility%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\/06\/aman-microfinance-in-talks-for-egp-1-bn-facility\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549167\" class=\"content-area-description single-story post-549167 post type-post status-publish format-standard hentry category-debt-watch tag-aman-for-microfinance tag-debt-watch tag-enterpriseam tag-raya-holding wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Raya Holding subsidiary Aman Microfinance is negotiating an EGP 1 bn credit <\/strong><strong>facility with four<\/strong> <strong>banks<\/strong>, Raya IR head Ahmed Nour Eldin told Enterprise, confirming a story first reported by Amwal Alghad. Aman is in talks with Credit Agricole, United Bank, Abu Dhabi Islamic Bank and Al Ahli Bank of Kuwait for the facility, which will fund working capital, Nour Eldin said.<\/p>\n<p><strong>Negotiations shouldn\u2019t take long: <\/strong>\u201cIt normally takes us only 2-3 months to negotiate credit facilities and receive approvals from banks since they are particularly supportive when it comes to providing credit facilities for microfinancing,\u201d Nour Eldin said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aman-for-microfinance\/\">Aman for Microfinance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/raya-holding\/\">Raya Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549168\" 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=\"549168\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/e-commerce-platform-el-dokan-used-car-retailed-carzami-close-first-funding-rounds\/\">\r\n                            E-commerce platform El Dokan + used-car retailed Carzami close first funding rounds                        <\/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\/06\/e-commerce-platform-el-dokan-used-car-retailed-carzami-close-first-funding-rounds\/\" 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\/06\/e-commerce-platform-el-dokan-used-car-retailed-carzami-close-first-funding-rounds\/')\">\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\/06\/e-commerce-platform-el-dokan-used-car-retailed-carzami-close-first-funding-rounds\/\">\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=E-commerce platform El Dokan + used-car retailed Carzami close first funding rounds&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/e-commerce-platform-el-dokan-used-car-retailed-carzami-close-first-funding-rounds\/\">\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\/06\/e-commerce-platform-el-dokan-used-car-retailed-carzami-close-first-funding-rounds\/&title=E-commerce platform El Dokan + used-car retailed Carzami close first funding rounds\">\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=E-commerce+platform+El+Dokan+%2B+used-car+retailed+Carzami+close+first+funding+rounds+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F06%2Fe-commerce-platform-el-dokan-used-car-retailed-carzami-close-first-funding-rounds%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\/06\/e-commerce-platform-el-dokan-used-car-retailed-carzami-close-first-funding-rounds\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/128.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"549169\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/e-commerce-platform-el-dokan-used-car-retailed-carzami-close-first-funding-rounds\/128-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/128.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"128.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/128.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/128.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549168\" class=\"content-area-description single-story post-549168 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-contact-financial tag-e-commerce tag-el-dokna tag-enterpriseam tag-startup-watch tag-startups wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Two local startups get a first foot on the funding ladder: <\/strong>E-commerce software provider El Dokan raised USD 550k in a seed round, while online used car marketplace Carzami bagged pre-seed funding, but declined to say how much it had raised.<\/p>\n<p><strong>FIRST UP- Cairo-based e-commerce platform <\/strong><strong><a href=\"https:\/\/el-dokan.com\/\">El Dokan<\/a><\/strong><strong> has raised USD 550k in its first <\/strong><strong>funding round, <\/strong>led by <a href=\"https:\/\/www.efgev.com\/\">EFG EV<\/a>, <a href=\"https:\/\/www.flat6labs.com\/\">Flat6Labs<\/a>, <a href=\"https:\/\/500.co\/\">500 Global<\/a> and <a href=\"https:\/\/www.halavc.com\/\">Hala Ventures<\/a>, the company said in <a href=\"https:\/\/ent.news\/2022\/9\/el-dokan-close-pre-seed-investment-round-english-PRL.pdf\">a statement (pdf)<\/a> yesterday.<\/p>\n<p><strong>About El Dokan: <\/strong>Founded in late 2020 by Ahmed Maher (<a href=\"https:\/\/www.linkedin.com\/in\/ahmedmaherpasha\/\">LinkedIn<\/a>), Mohammed Yousry (<a href=\"https:\/\/www.linkedin.com\/in\/mohammedshirt\/\">LinkedIn<\/a>) and Sherif Alaa (<a href=\"https:\/\/www.linkedin.com\/in\/sherif-alaa-ismael\/\">LinkedIn<\/a>), the company offers large retailers software to develop their own e-commerce platforms. El Dokan has more than 50 clients on its roster, including P&G, Misr Pharmacies, and startups such as Appetito. \u201cWe focus on medium and large enterprises because their operations are more complex,\u201d Maher, who serves as the company\u2019s CEO, told us. \u201cSmall businesses can go to any retailer to launch their e-commerce operations.\u201d Earlier this year, the firm <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/98213b72-1251-4ad0-b823-92e9c069783b\">was among two startups<\/a> chosen to work with P&G Egypt through its MEA Innovation Challenge.<\/p>\n<p><strong>The company has its eye on GCC expansion: <\/strong>The seed funding will go towards growing the company\u2019s operations across the region by expanding its sales and marketing team, Maher told us. El Dokan is already registered in Saudi Arabia in preparation for launch, he said, adding that it is also planning expansion into other GCC and African countries. \u201cWe\u2019ve been working on building our tech and working with local enterprises but our main goal is to scale our tech across the Middle East and Africa,\u201d he said.<\/p>\n<p><strong>More funding to come: <\/strong>The startup is hoping to raise a USD 5 mn round by the end of next year, the CEO said.<\/p>\n<hr class=\"grey-line\">\n<p><strong>AND- Carzami closes first funding round:<\/strong> Egyptian used car trading platform <a href=\"https:\/\/carzami.com\/\">Carzami<\/a> has raised pre-seed funding round led by Contact Financial Holding, along with an inventory financing facility, the startup said in <a href=\"https:\/\/carzami.com\/press\/Carzami\">a statement<\/a>. Representatives from Contact and Carzami weren\u2019t available for comment when we reached out yesterday.<\/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\/contact-financial\/\">Contact Financial<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-commerce\/\">e-commerce<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/el-dokna\/\">El Dokna<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549170\" 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=\"549170\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/foreign-ministry-spox-ambassador-to-canada-swap-jobs-4sale-gets-chief-product-officer\/\">\r\n                            Foreign Ministry spox, ambassador to Canada swap jobs + 4Sale gets chief product officer                        <\/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\/06\/foreign-ministry-spox-ambassador-to-canada-swap-jobs-4sale-gets-chief-product-officer\/\" 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\/06\/foreign-ministry-spox-ambassador-to-canada-swap-jobs-4sale-gets-chief-product-officer\/')\">\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\/06\/foreign-ministry-spox-ambassador-to-canada-swap-jobs-4sale-gets-chief-product-officer\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Foreign Ministry spox, ambassador to Canada swap jobs + 4Sale gets chief product officer&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/foreign-ministry-spox-ambassador-to-canada-swap-jobs-4sale-gets-chief-product-officer\/\">\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\/06\/foreign-ministry-spox-ambassador-to-canada-swap-jobs-4sale-gets-chief-product-officer\/&title=Foreign Ministry spox, ambassador to Canada swap jobs + 4Sale gets chief product officer\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Foreign+Ministry+spox%2C+ambassador+to+Canada+swap+jobs+%2B+4Sale+gets+chief+product+officer+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F06%2Fforeign-ministry-spox-ambassador-to-canada-swap-jobs-4sale-gets-chief-product-officer%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\/06\/foreign-ministry-spox-ambassador-to-canada-swap-jobs-4sale-gets-chief-product-officer\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549170\" class=\"content-area-description single-story post-549170 post type-post status-publish format-standard hentry category-moves tag-enterpriseam tag-foreign-ministry tag-moves wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Foreign Minister Sameh Shoukry has appointed <strong>Ahmed Abu Zeid<\/strong> to return as <strong>spokesperson for the Foreign Ministry<\/strong> and director of the public diplomacy department, marking the second time he has held the position, according to a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0tYRBmXAd4XDPYoRhcVxfR8e7p5oobQNcidRmJ3PRemdYTGQWULvNpCHEdcS5ufY9l\">Foreign Ministry statement<\/a>. Abu Zeid is switching roles with Ahmed Hafez, who replaces Abu Zeid as ambassador to Canada after serving as spokesman for four years.<\/p>\n<p>Classifieds platform <strong><a href=\"https:\/\/www.q84sale.com\/en\">4Sale<\/a><\/strong> has appointed <strong>Nabil Mohamed <\/strong>(<a href=\"https:\/\/www.linkedin.com\/in\/nabil-mohamed-032a0782\/\">LinkedIn<\/a>) as its <strong>c<\/strong><strong>hief <\/strong><strong>product officer<\/strong>, according to a <a href=\"https:\/\/ent.news\/2022\/9\/4Sale-CPO-appointment-FINAL-31-August-2022.docx.pdf\">press release (pdf)<\/a>. Mohamed most recently served as vice president of product at Instabug, a global computer software company. Prior to that he was senior product manager in Amazon\u2019s Prime video and recommerce divisions. Founded by local entrepreneur Tarek Sakr (<a href=\"https:\/\/www.linkedin.com\/in\/tarek-sakr\/\">LinkedIn<\/a>), 4Sale\u2019s online marketplace caters to the Kuwaiti market but operates out of Egypt.<\/p>\n<p><strong>Amr Ahmed Lotfy Shehata Morsi<\/strong> is the new head of Alexandria Mineral Oils Company (<strong>AMOC<\/strong>) while Sayed Al Rawi Mahmoud Abdullah will lead refiner <strong>Midor<\/strong> in a shuffle of leadership at a number of ministry-controlled stories.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-ministry\/\">Foreign Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549171\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"549171\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/549171\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549171\" class=\"content-area-description single-story post-549171 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/www.sodic.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/Sodic-25_IDEAS_1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549172\" 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=\"549172\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/the-national-dialogue-economic-crisis-and-new-alameins-exemption-from-power-rationing-got-attention-on-the-airwaves\/\">\r\n                            The National Dialogue, economic crisis, and New Alamein\u2019s exemption from power rationing got attention on the airwaves                        <\/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\/06\/the-national-dialogue-economic-crisis-and-new-alameins-exemption-from-power-rationing-got-attention-on-the-airwaves\/\" 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\/06\/the-national-dialogue-economic-crisis-and-new-alameins-exemption-from-power-rationing-got-attention-on-the-airwaves\/')\">\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\/06\/the-national-dialogue-economic-crisis-and-new-alameins-exemption-from-power-rationing-got-attention-on-the-airwaves\/\">\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 National Dialogue, economic crisis, and New Alamein\u2019s exemption from power rationing got attention on the airwaves&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/the-national-dialogue-economic-crisis-and-new-alameins-exemption-from-power-rationing-got-attention-on-the-airwaves\/\">\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\/06\/the-national-dialogue-economic-crisis-and-new-alameins-exemption-from-power-rationing-got-attention-on-the-airwaves\/&title=The National Dialogue, economic crisis, and New Alamein\u2019s exemption from power rationing got attention on the airwaves\">\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+National+Dialogue%2C+economic+crisis%2C+and+New+Alamein%E2%80%99s+exemption+from+power+rationing+got+attention+on+the+airwaves+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F06%2Fthe-national-dialogue-economic-crisis-and-new-alameins-exemption-from-power-rationing-got-attention-on-the-airwaves%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\/06\/the-national-dialogue-economic-crisis-and-new-alameins-exemption-from-power-rationing-got-attention-on-the-airwaves\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549172\" class=\"content-area-description single-story post-549172 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-debt tag-economy tag-egp tag-electricity tag-enterpriseam tag-hazem-el-beblawy tag-last-nights-talk-shows wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The Sisi administration\u2019s national dialogue dominated the conversation on the airwaves <\/strong><strong>last night<\/strong> after the board of trustees yesterday appointed several rapporteurs for the process (more on this in this morning\u2019s Also on our Radar, below). Nothing particularly interesting was said, but if you\u2019ve run out of things to kill time: Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=66zm6AESMko\">watch, runtime: 19:16<\/a>), Kelma Akhira (<a href=\"https:\/\/www.youtube.com\/watch?v=_WhCSjk-MGI\">watch, runtime: 3:45)<\/a>, and Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=GvoT22Iac8M\">watch, runtime: 4:21<\/a>).<\/p>\n<p><strong>The economic crisis and the future of the EGP got a selective mention:<\/strong> <strong>Hazem El Beblawy<\/strong> rang the alarm bells about Egypt\u2019s increasing indebtedness in an interview with Al Hadath Al Youm. The former PM called on the government to take action to prevent a debt crisis \u2014 but didn\u2019t provide much in the way of a solution himself (<a href=\"https:\/\/www.youtube.com\/watch?v=muZ0X0ISj6s\">watch, runtime: 6:42<\/a>).<\/p>\n<p>Meanwhile, <strong>Wael Ziada<\/strong>, executive chairman of Zilla Capital, speculated that the IMF isn\u2019t likely to force the government into a sudden currency devaluation but could give it space for a gradual decline (<a href=\"https:\/\/www.youtube.com\/watch?v=6P7t-lpj-W8\">watch, runtime: 6:24<\/a>).<\/p>\n<p><strong>The gradual vs. sudden debate is key right now:<\/strong> Hassan Abdalla\u2019s appointment to head the central bank has brought with it a strong consensus that the government is preparing to let the currency fall against the greenback. The main debate is whether it will do so at a slow pace or opt for a sudden devaluation as happened in March.<\/p>\n<p><strong>While the rest of the country has to <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/34592f12-233d-4901-ae0a-b210c9ca855e\">rationalize consumption<\/a><\/strong><strong> to boost foreign currency, New Alamein can use all the power it wants. <\/strong>Why? To attract tourists to the area, Housing Minister Assem Al Gazzar told Kelma Akhira\u2019s Lamis El Hadidi (<a href=\"https:\/\/www.youtube.com\/watch?v=zpRqPboCESw\">watch, runtime: 3:25)<\/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\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egp\/\">EGP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hazem-el-beblawy\/\">Hazem El Beblawy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549173\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-aohgjbv\" data-v=\"4\" data-block-id=\"aohgjbv\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-aohgjbv-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-aohgjbv-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-x4nya4g\" data-v=\"4\" data-block-id=\"x4nya4g\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-x4nya4g-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-x4nya4g-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27487.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Live More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-xh9gjqv\" data-v=\"4\" data-block-id=\"xh9gjqv\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-xh9gjqv-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-xh9gjqv-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-2k7sd9a\" data-v=\"4\" data-block-id=\"2k7sd9a\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-2k7sd9a-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-2k7sd9a-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549174\" 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=\"549174\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/egypts-economic-headaches-warraq-evictions-are-getting-attention-in-the-foreign-press\/\">\r\n                            Egypt\u2019s economic headaches + Warraq evictions are getting attention in the foreign press                        <\/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\/06\/egypts-economic-headaches-warraq-evictions-are-getting-attention-in-the-foreign-press\/\" 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\/06\/egypts-economic-headaches-warraq-evictions-are-getting-attention-in-the-foreign-press\/')\">\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\/06\/egypts-economic-headaches-warraq-evictions-are-getting-attention-in-the-foreign-press\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt\u2019s economic headaches + Warraq evictions are getting attention in the foreign press&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/egypts-economic-headaches-warraq-evictions-are-getting-attention-in-the-foreign-press\/\">\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\/06\/egypts-economic-headaches-warraq-evictions-are-getting-attention-in-the-foreign-press\/&title=Egypt\u2019s economic headaches + Warraq evictions are getting attention in the foreign press\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt%E2%80%99s+economic+headaches+%2B+Warraq+evictions+are+getting+attention+in+the+foreign+press+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F06%2Fegypts-economic-headaches-warraq-evictions-are-getting-attention-in-the-foreign-press%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\/06\/egypts-economic-headaches-warraq-evictions-are-getting-attention-in-the-foreign-press\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549174\" class=\"content-area-description single-story post-549174 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-debt tag-economy tag-enterpriseam tag-warraq wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It\u2019s a quiet morning in the international press:<\/strong> <a href=\"https:\/\/www.haaretz.com\/middle-east-news\/2022-09-06\/ty-article\/.premium\/its-economy-hit-by-ukraine-war-egypt-risks-defaulting\/00000183-0f9f-d968-abc7-4fff6e4d0000\">Haaretz<\/a> is the latest foreign outlet to examine the likelihood of Egypt defaulting on its debt while <a href=\"https:\/\/www.bloomberg.com\/news\/newsletters\/2022-09-05\/turkey-inflation-angst-saudi-crypto-ambitions-egypt-default-risk?sref=mmeFTDW1\">Bloomberg<\/a> is drawing attention to the government\u2019s pivot towards local treasury bill issuances this year. Meanwhile, <a href=\"https:\/\/ewn.co.za\/0001\/01\/01\/nile-islanders-face-eviction-to-make-way-for-egypt-s-latest-grand-plan\">AFP<\/a> reports on the eviction of Warraq islanders whose houses are being destroyed so the government can redevelop the island.<\/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\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/warraq\/\">Warraq<\/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=\"549175\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549176\" 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=\"549176\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/the-national-dialogue-is-starting-to-take-shape\/\">\r\n                            The National Dialogue is starting to take shape                        <\/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\/06\/the-national-dialogue-is-starting-to-take-shape\/\" 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\/06\/the-national-dialogue-is-starting-to-take-shape\/')\">\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\/06\/the-national-dialogue-is-starting-to-take-shape\/\">\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 National Dialogue is starting to take shape&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/the-national-dialogue-is-starting-to-take-shape\/\">\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\/06\/the-national-dialogue-is-starting-to-take-shape\/&title=The National Dialogue is starting to take shape\">\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+National+Dialogue+is+starting+to+take+shape+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F06%2Fthe-national-dialogue-is-starting-to-take-shape%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\/06\/the-national-dialogue-is-starting-to-take-shape\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549176\" class=\"content-area-description single-story post-549176 post type-post status-publish format-standard hentry category-also-on-our-radar tag-abu-dhabi-islamic-bank tag-also-on-our-radar tag-banking tag-education tag-enterpriseam tag-queen-margaret-university wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>National dialogue rapporteurs appointed:<\/strong> The 19-member board of trustees overseeing the Sisi administration\u2019s national dialogue named six rapporteurs and assistant rapporteurs for the process\u2019 main political, social and economic committees. Board members appointed:<\/p>\n<ul>\n<li>Our friend <strong>Alieldean<\/strong><strong> Helal<\/strong>, professor of political science at Cairo University and former sports minister, as the political rapporteur;<\/li>\n<li>Ex-finance minister <strong>Ahmed Galal<\/strong> as the economic rapporteur;<\/li>\n<li>and former youth and sports minister <strong>Khaled Abdel Aziz<\/strong> as the social rapporteur.<\/li>\n<\/ul>\n<p>It also selected rapporteurs to each of the three political subcommittees.<\/p>\n<p><strong>Up next:<\/strong> The board will hold its next meeting on Saturday to name rapporteurs and assistant rapporteurs for the social and economic subcommittees.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>ADIB gets the all-clear for capital increase:<\/strong> Abu Dhabi Islamic Bank Egypt (ADIB) will move forward with an EGP 1 bn capital increase, after the Financial Regulatory Authority greenlit the move. ADIB will offer an additional 100 mn shares at EGP 10 per share to existing investors. (<a href=\"https:\/\/ent.news\/2022\/9\/FRA_ADIB-Egypt_capital-increase.pdf\">Disclosure, pdf<\/a>)<\/li>\n<li>Scotland\u2019s <strong><a href=\"https:\/\/www.qmu.ac.uk\/\">Queen Margaret University<\/a><\/strong> could be interested in opening a branch in <strong>the new <\/strong><strong>capital<\/strong>. (<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02Y7ACik8S2yE7MEy4yFNVG17UVKSjdRT85HyLPDD4DD4CNm7paj4qZeDcPuEkZZKwl\">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\/abu-dhabi-islamic-bank\/\">Abu Dhabi Islamic Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/banking\/\">banking<\/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\/queen-margaret-university\/\">Queen Margaret University<\/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=\"549177\" 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=\"549177\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/opec-unexpectedly-cuts-oil-supply\/\">\r\n                            OPEC+ unexpectedly cuts oil supply                        <\/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\/06\/opec-unexpectedly-cuts-oil-supply\/\" 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\/06\/opec-unexpectedly-cuts-oil-supply\/')\">\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\/06\/opec-unexpectedly-cuts-oil-supply\/\">\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=OPEC+ unexpectedly cuts oil supply&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/opec-unexpectedly-cuts-oil-supply\/\">\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\/06\/opec-unexpectedly-cuts-oil-supply\/&title=OPEC+ unexpectedly cuts oil supply\">\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=OPEC%2B+unexpectedly+cuts+oil+supply+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F06%2Fopec-unexpectedly-cuts-oil-supply%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\/06\/opec-unexpectedly-cuts-oil-supply\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549177\" class=\"content-area-description single-story post-549177 post type-post status-publish format-standard hentry category-planet-finance tag-china tag-currencies tag-emerging-markets tag-enterpriseam tag-ernst-young tag-financial-markets tag-instagram tag-ipo-watch tag-planet-finance tag-salik tag-social-media wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>And Europe learned the meaning of the word A_a\u2026<\/strong> OPEC+ will cut supply in October in a surprise move meant to support oil prices, which have fallen back in recent weeks on fears of a global slowdown. The Saudi Arabia and Russia-led alliance agreed to reduce output by 100k barrels a day in October in its monthly meeting yesterday, it said in a <a href=\"https:\/\/www.opec.org\/opec_web\/en\/press_room\/7002.htm\">statement<\/a>.<\/p><p><strong>Market reax:<\/strong> Brent crude jumped 3.0% yesterday to USD 95.78 a barrel while US crude briefly rose above USD 90 for the first time since August before falling back.<\/p><p><strong>Let\u2019s not overstate this:<\/strong> The cut will take us back to where we were in August and reverses the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f8c55eb3-58a3-4035-8aa8-52ca00300cf4\">paltry hike<\/a> made to supply following pressure from Western countries to cool oil prices.<\/p><p><strong>But let\u2019s not understate it either:<\/strong> The move will not be welcomed in European capitals and the US where soaring energy costs and supply shortages driven by the sanctions war with Russia are provoking an unprecedented energy crisis in Europe and fuelling inflation across the Atlantic. The cut also comes as Western nations try to drum up support around the world for a <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-09-02\/g-7-set-to-back-plan-to-introduce-cap-on-price-of-russian-oil?sref=mmeFTDW1\">price cap on Russian oil<\/a>, a policy which, if successful, will send further shockwaves through energy markets.<\/p><hr class=\"grey-line\"><p><strong>Dubai\u2019s road-toll operator could become the third state-owned firm to <\/strong><strong>IPO <\/strong><strong>this <\/strong><strong>year:<\/strong> Dubai will sell a 20% stake in Salik on the stock exchange in a transaction that it hopes could raise USD 1 bn, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-09-05\/dubai-to-sell-20-stake-in-ipo-of-road-toll-operator-salik?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a>. The company will offer 1.5 bn shares to investors in an IPO scheduled to take place in September, it said in <a href=\"https:\/\/ent.news\/2022\/9\/Salik-Company-PJSC-Intention-to-Float-ITF.pdf\">a<\/a><a href=\"https:\/\/ent.news\/2022\/9\/Salik-Company-PJSC-Intention-to-Float-ITF.pdf\">statement (p<\/a><a href=\"https:\/\/ent.news\/2022\/9\/Salik-Company-PJSC-Intention-to-Float-ITF.pdf\">df)<\/a> yesterday. Subscription will open on 13 September to retail and institutional investors.<\/p><p><strong>Advisors- <\/strong>Our friends at <strong>EFG Hermes<\/strong> and <strong>HSBC<\/strong> have been appointed as joint bookrunners alongside <strong>Citigroup<\/strong>, while <strong>Emirates NBD<\/strong>, <strong>Goldman Sachs<\/strong> and <strong>Merrill Lynch<\/strong> are global coordinators.<\/p><hr class=\"grey-line\"><p><strong>The CNY is falling \u2014 and that\u2019s not great news for emerging markets:<\/strong> The People\u2019s Bank of China (PBOC) is cutting local banks\u2019 FX deposit ratio \u2014 the amount of foreign currency banks must hold in reserve \u2014 to 6% from 8% in a bid to stop the CNY\u2019s slide, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-09-05\/china-battles-yuan-losses-by-unleashing-foreign-exchange-onshore?srnd=premium-middle-east\">Bloomberg<\/a> reports. The local currency has hit a two-year low against the greenback, as Beijing\u2019s zero-covid policy and a struggling property market pressure the Chinese economy just as the USD strengthens on rising interest rates. The CNY has lost nearly 10% to the USD over the last six months to trade at around USD 6.93 to the USD, with banks including Goldman Sachs expecting it to pass the USD 7.00 mark.<\/p><p><strong>There will be consequences for EMs:<\/strong> The deepening trade and financial connections between China and other developing economies mean that the fate of other EM currencies are more closely tied to the CNY than ever before. \u201cWith the CNY set to weaken further, other emerging markets will face downward pressure on their currencies,\u201d a senior analyst at Nordic lender SEB <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-09-04\/china-s-currency-struggles-spell-trouble-across-emerging-markets?sref=mmeFTDW1\">told the business newswire<\/a>. \u201cThe impact will be felt the most by nations which compete directly with China on exports.\u201d<\/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>10,178<\/p>\n<\/td>\n<td>\n<p>+1.8% (YTD: -14.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 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 at 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-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>12,100<\/p>\n<\/td>\n<td>\n<p>-0.8% (YTD: +7.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>9,687<\/p>\n<\/td>\n<td>\n<p>-0.7% (YTD: +14.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,354<\/p>\n<\/td>\n<td>\n<p>-1.2% (YTD: +5.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>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>7,287<\/p>\n<\/td>\n<td>\n<p>+0.1% (YTD: -1.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td>\n<p>3,490<\/p>\n<\/td>\n<td>\n<p>-1.5% (YTD: -18.8%)<\/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>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 95.74<\/p>\n<\/td>\n<td>\n<p>+2.3%<\/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 8.76<\/p>\n<\/td>\n<td>\n<p>-0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,721.20<\/p>\n<\/td>\n<td>\n<p>-0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 19,748<\/p>\n<\/td>\n<td>\n<p>-0.6% (YTD: -57.3%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 rose 1.8% at yesterday\u2019s close<\/strong> on turnover of EGP 1.63 bn (46.4% above the 90-day average). Local investors were net buyers. The index is down 14.8% YTD.<\/p><p><strong>In the green: <\/strong>Telecom Egypt (+15.8%), Ezz Steel (+8.6%) and Citadel Capital (+6.9%).<\/p><p><strong>In the red: <\/strong>Egyptian Kuwaiti Holding-EGP (-1.4%), Abu Qir Fertilizers (-0.7%) and GB Auto (-0.5%).<\/p><p><strong>Asian markets are mixed so far today<\/strong>, with the Nikkei, Kospi and Hang Seng facing selling pressure while shares are up in Shanghai and Australia. Futures suggest European stocks will come under selling pressure at the opening bell (perhaps thanks to fears of how OPEC\u2019s surprise production cut could impact economies this fall). The Dow, S&amp;P, Nasdaq and TSX Composite all look set to gain later today when markets in the US and Canada re-open following labor day weekend.<\/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\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/currencies\/\">currencies<\/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\/ernst-young\/\">Ernst &amp; Young<\/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\/instagram\/\">Instagram<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/salik\/\">Salik<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/social-media\/\">social media<\/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=\"549178\" 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=\"549178\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/un-names-abdoulaye-bathily-new-libya-envoy\/\">\r\n                            UN names Abdoulaye Bathily new Libya envoy                        <\/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\/06\/un-names-abdoulaye-bathily-new-libya-envoy\/\" 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\/06\/un-names-abdoulaye-bathily-new-libya-envoy\/')\">\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\/06\/un-names-abdoulaye-bathily-new-libya-envoy\/\">\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=UN names Abdoulaye Bathily new Libya envoy&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/un-names-abdoulaye-bathily-new-libya-envoy\/\">\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\/06\/un-names-abdoulaye-bathily-new-libya-envoy\/&title=UN names Abdoulaye Bathily new Libya envoy\">\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=UN+names+Abdoulaye+Bathily+new+Libya+envoy+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F06%2Fun-names-abdoulaye-bathily-new-libya-envoy%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\/06\/un-names-abdoulaye-bathily-new-libya-envoy\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549178\" class=\"content-area-description single-story post-549178 post type-post status-publish format-standard hentry category-around-the-world tag-abdoulaye-bathily tag-around-the-world tag-diplomacy tag-enterpriseam tag-human-rights tag-israel tag-libya tag-politics tag-shireen-abu-akleh tag-un wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>UN appoints new envoy to Libya amid rising tensions: <\/strong>UN Secretary-General Antonio Guterres has appointed a new envoy to Libya amid an uptick in clashes that threaten to unwind months of negotiations to end the country\u2019s years-long civil war. The UN Security council has finally agreed to appoint Senegalese diplomat Abdoulaye Bathily to the job following a nine-month search that has seen several candidates rejected by council members, Libya or other countries in the region. Bathily replaces Jan Kubis who <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6fe31593-c276-424f-8726-9cf0a2268149\">resigned<\/a> last year in the lead up to ill-fated national elections. Egypt\u2019s Foreign Ministry welcomed Bathily\u2019s appointment in <a href=\"https:\/\/tinyurl.com\/2bhuxu8b\">a statement<\/a> yesterday.<\/p>\n<p><strong>Israel admits \u201chigh possibility\u201d its soldiers killed Shireen Abu Akleh: <\/strong>The Israeli military has conceded for the first time that there is a \u201chigh possibility\u201d one of its soldiers <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/748916dd-ce0d-4d6e-ae4c-364c028a6a8f\">killed veteran Al Jazeera correspondent Shireen Abu Akleh<\/a> in May, <a href=\"https:\/\/edition.cnn.com\/2022\/09\/05\/middleeast\/idf-shireen-abu-akleh-investigation-intl\/index.html\">CNN<\/a> reported, citing a statement by the military. The IDF said any attack on the journalist by soldiers would have been accidental and will not launch a criminal investigation into the killing.<\/p>\n<p><strong>Also worth knowing this morning:<\/strong><\/p>\n<ul>\n<li><strong>Bomb blast at Russian embassy kills six in Kabul: <\/strong>At least two Russian embassy staffers and four Afghan citizens were killed and another 10 people injured in a suicide bomb attack near the embassy\u2019s entrance yesterday. Islamic State claimed responsibility for the attack. (<a href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/afghan-police-report-suicide-bomb-blast-near-russian-embassy-kabul-2022-09-05\/\">Reuters<\/a>) <\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdoulaye-bathily\/\">Abdoulaye Bathily<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/diplomacy\/\">DIPLOMACY<\/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\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/libya\/\">Libya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/shireen-abu-akleh\/\">Shireen Abu Akleh<\/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 going-green wp-block-group issue-section\" id=\"549179\">\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\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday 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\/goinggreen\/\">\r\n                            Read going Green                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">13<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/our-dairy-farmers-are-feeling-the-heat\/\">\r\n                            Our dairy farmers are feeling the heat<\/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\/goinggreens\/our-dairy-farmers-are-feeling-the-heat\/\" 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\/goinggreens\/our-dairy-farmers-are-feeling-the-heat\/')\">\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\/goinggreens\/our-dairy-farmers-are-feeling-the-heat\/\">\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=Our dairy farmers are feeling the heat&url=https:\/\/enterpriseam.com\/egypt\/goinggreens\/our-dairy-farmers-are-feeling-the-heat\/\">\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\/goinggreens\/our-dairy-farmers-are-feeling-the-heat\/&title=Our dairy farmers are feeling the heat\">\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=Our+dairy+farmers+are+feeling+the+heat+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Fgoinggreens%2Four-dairy-farmers-are-feeling-the-heat%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>                    <\/div>\r\n\r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/our-dairy-farmers-are-feeling-the-heat\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/131.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"549180\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/our-dairy-farmers-are-feeling-the-heat\/131-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/131.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"131.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/131.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/131.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-549179\" class=\"content-area-description post-549179 goinggreen type-goinggreen status-publish has-post-thumbnail hentry tag-agriculture tag-enterprise-going-green tag-enterpriseam tag-food-security wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>Climate change is threatening the future of our dairy farms.<\/strong> Extreme heat affects the growth, milk production, and reproductive rates of cattle. That\u2019s bad news for small-scale Egyptian livestock farmers, who make up the bulk of the local dairy industry \u2014 and comes as some of them are already struggling to make a living as feed prices rise thanks to the global commodities crunch.<\/p>\n<p><strong>Dairy is a huge part of our agriculture industry \u2014 and demand is growing:<\/strong> Milk production is worth some USD 3.3 bn annually \u2014 making up a full third of Egypt\u2019s total animal production sector and nearly 1.6% of the country\u2019s total GDP, according to International Labor Organization <a href=\"https:\/\/ent.news\/2022\/9\/ILO-dairy-market-report-2020.pdf\">estimates (pdf)<\/a>. Local cattle produce over 5 mn tons of milk every year, covering some 72% of the market\u2019s needs, with imported milk powder covering the rest.<\/p>\n<p><strong>Small scale dairy farms supply more than 80% of all locally produced milk<\/strong>. They\u2019ll need to up their production capacity to keep pace with the market, as our increasing population and rising demand for liquid milk in urban areas propels growth in the sector, the ILO says.<\/p>\n<p><strong>But hotter weather means less milk: <\/strong>Extreme temperatures expose all livestock to the threat of heat stress, which can suppress their appetite, lower their reproduction rates, and inhibit the functioning of their immune systems. Heat stress is especially worrisome for dairy cows, causing \u201ca direct adverse effect on milk production, growth, feed intake, reproductive efficiency, and disease incidence,\u201d according to a <a href=\"https:\/\/www.ncbi.nlm.nih.gov\/pmc\/articles\/PMC8614250\/\">November study<\/a> co-authored by Dr. Amira Goma, a member of Alexandria University\u2019s faculty of veterinary medicine. Using the most recent estimates on population growth and expected temperature increases, the study\u2019s authors predict that the availability of local milk could fall drastically in the coming decades. They predict milk production to stand at 26 kg per capita by the mid-2060s \u2014 less than half what it was in 2011.<\/p>\n<p><strong>Local dairy farmers told Enterprise that their herds are producing less milk as temperatures rise.<\/strong> \u201cThe most bothersome thing for breeders is the lack of production, and this has happened as a result of climatic changes,\u201d Thabet Al Baqari, who owns Al Baqari farms, told Enterprise. He estimates that milk production drops by up to 10% in severe heat, adding that this year the impact was slightly more severe than last.<\/p>\n<p><strong>This summer was particularly bad for some: <\/strong>Mustafa Mohamed, the owner of Sheikh Mohamed dairy farms, expects milk production to decrease by 10-20% during hot periods \u2014 but this summer production dropped by more than half, he told us, adding that he hasn\u2019t witnessed a similar rise in temperatures in twenty years. \u201cOur farm production has decreased from 800 kg of milk to 300 kg of milk per day due to the heat and foot-and-mouth disease,\" Mohamed said.<\/p>\n<p><strong>Heat stress isn\u2019t the only threat to the industry from climate change: <\/strong>Temperature increases also impact growing conditions for livestock feed, with any drop in production likely to lead to higher prices in global feed markets. Egypt imports more than 70% of its fodder, from markets including Brazil, Argentina, the US, and Ukraine. A hit to feed production on the back of climate change in those parts of the world would lead to higher input costs for our livestock farmers, former assistant deputy minister of agriculture and veterinarian Zagloul Khedr told Enterprise. Farmers respond to higher prices by reducing the amount of feed per animal \u2014 which has nutritional impacts that weigh on beef and dairy productivity, Khedr says.<\/p>\n<p><strong>And farmers\u2019 margins are already being squeezed. <\/strong>Rising fuel prices on the back of the war in Ukraine and the strengthening USD have led to higher freight and transport costs for farmers, at the same time as feed prices have shot up, Khedr says. Al-Baraka farm owner Amr Magdy estimates that the price of corn has risen by more than 25% since the start of July.<\/p>\n<p><strong>Some have been forced to downsize or even shut up shop: <\/strong>Raising livestock in Egypt is no longer profitable due to the significant increases in input costs, Anani farm owner Ahmed Harbi told us, while several farmers said the price rises have prompted some to quit the business altogether. Mustafa Mohamed has reduced the size of his dairy herds to 70 head of cattle from 300. \"We decrease the numbers year after year with the increase in costs, and there are farmers who stopped due to the lack of returns,\u201d he said.<\/p>\n<p><strong>So how to address the challenges facing our dairy farmers? <\/strong>\u201cThe best coping response to these adverse climatic conditions is the development of resilient management strategies and the genetic selection of heat tolerant livestock species,\u201d write the authors of the milk production study. Farm owner Al Baqari suggests managing the higher temperatures by increasing shaded areas, improving ventilation with fans in cowsheds, and making sure animals have enough water in periods of extreme heat. Khedr notes that making sure calves have all their vaccinations is key to stopping the spread of disease. Meanwhile, the government is working on boosting local production of feed grains in a bid to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1780502c-2520-475c-9bcd-8c75d1133ba6\">bring down the high import bill<\/a> and insulate the industry from global cost pressures.<\/p>\n<p><strong>One climate-friendly solution: Drink less milk.<\/strong> Cattle farming is itself a contributor to climate change, the milk production study notes \u2014 meaning a decrease in livestock production \u201ccould reduce the anticipated temperature changes.\u201d Plant-based dairy alternatives would need to see wider takeup as the population grows. That would \u201crequire the re-education of the Egyptian population about the value of alternatives to livestock in their diet and the provision of assistance for Egyptian livestock farmers who are willing to convert to more efficient methods of producing food for a secure future,\u201d they write.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top green economy stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Eni eyes renewables capacity in Egypt:<\/strong> Eni <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fb190568-6c1f-494f-ab4c-643415577879\">could establish<\/a> 10 GW of renewable energy projects in Egypt \u201cin the forthcoming years,\u201d the Italian energy giant said.<\/li>\n<li><strong>Egypt + Greece could collab on renewable energy projects:<\/strong> Egypt and Greece are <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/174d0949-75cd-49ae-bb8d-6abd66ec4206\">working on a plan<\/a> to add 9.5 GW of renewable power generation capacity in Egypt for export to Greece.<\/li>\n<li><strong>Green hydrogen regs are coming:<\/strong> The Egyptian Electric Utility and Consumer Protection Regulatory Agency (Egyptera) <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/497be40f-7087-4035-9150-c2fd2934444b\">plans to announce<\/a> a regulatory framework governing investments in green hydrogen projects in October.<\/li>\n<li><strong>Restoring Red Sea coral reefs:<\/strong> The Egyptian Environmental Affairs Agency, the Academy of Scientific Research and Technology and <a href=\"http:\/\/ahmedgabr.com\/Pages\/Default.aspx\">Gabrtek<\/a> <a href=\"https:\/\/bit.ly\/3RGYaSL\">will work on a pilot project<\/a> to restore coral reefs in the Red Sea.<\/li>\n<li><strong>A break for waste management players<\/strong>: NGOs operating in waste management will <a href=\"https:\/\/bit.ly\/3KQC26d\">receive discounts on licensing fees<\/a> and micro-businesses will be fully exempt from paying them.<\/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\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food-security\/\">food security<\/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=\"549181\" 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\/06\/549181\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549181\" class=\"content-area-description single-story post-549181 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>5-8 September (Monday-Thursday): <a href=\"https:\/\/www.gastechevent.com\/\">Gastech 2022<\/a>, Milan, Italy.<\/p>\n<p>6-9 September (Tuesday-Friday): <a href=\"https:\/\/www.gattravelexpo.com\/\">Gate Travel Expo 2022<\/a>, 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>10 September (Saturday): National Dialogue board meeting to name 30 rapporteurs and assistant rapporteurs for 15 political, social and economic subcommittees.<\/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>12-13 September (Monday-Tuesday): Cityscape holds its <a href=\"https:\/\/www.cityscapeegypt.com\/en\/conference-zone\/Conference-Overview.html\">first pre-summit<\/a> ahead of the main annual exhibition.<\/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&ndash;27 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 &ndash; 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":549158,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-549157","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"34c92759-7240-48e3-bdad-1c5c09aa54b5","teaser":"","photo_url":"https:\/\/ent.news\/2022\/9\/7.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>Three GCC sovereign wealth funds have their eye on TE\u2019s stake in Vodafone Egypt - 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\/three-gcc-sovereign-wealth-funds-have-their-eye-on-tes-stake-in-vodafone-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Three GCC sovereign wealth funds have their eye on TE\u2019s stake in Vodafone Egypt\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/three-gcc-sovereign-wealth-funds-have-their-eye-on-tes-stake-in-vodafone-egypt\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T22:31:32+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\/7.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\/three-gcc-sovereign-wealth-funds-have-their-eye-on-tes-stake-in-vodafone-egypt\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/three-gcc-sovereign-wealth-funds-have-their-eye-on-tes-stake-in-vodafone-egypt\/\",\"name\":\"Three GCC sovereign wealth funds have their eye on TE\u2019s stake in Vodafone Egypt - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/three-gcc-sovereign-wealth-funds-have-their-eye-on-tes-stake-in-vodafone-egypt\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/three-gcc-sovereign-wealth-funds-have-their-eye-on-tes-stake-in-vodafone-egypt\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/7.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2022-09-06T04:00:23+00:00\",\"dateModified\":\"2025-12-15T22:31:32+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/three-gcc-sovereign-wealth-funds-have-their-eye-on-tes-stake-in-vodafone-egypt\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/issues\/three-gcc-sovereign-wealth-funds-have-their-eye-on-tes-stake-in-vodafone-egypt\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/three-gcc-sovereign-wealth-funds-have-their-eye-on-tes-stake-in-vodafone-egypt\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/7.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/7.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/three-gcc-sovereign-wealth-funds-have-their-eye-on-tes-stake-in-vodafone-egypt\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Issues\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/AMarchives\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Three GCC sovereign wealth funds have their eye on TE\u2019s stake in Vodafone Egypt\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Three GCC sovereign wealth funds have their eye on TE\u2019s stake in Vodafone Egypt - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/issues\/three-gcc-sovereign-wealth-funds-have-their-eye-on-tes-stake-in-vodafone-egypt\/","og_locale":"en_US","og_type":"article","og_title":"Three GCC sovereign wealth funds have their eye on TE\u2019s stake in Vodafone Egypt","og_url":"https:\/\/enterpriseam.com\/egypt\/issues\/three-gcc-sovereign-wealth-funds-have-their-eye-on-tes-stake-in-vodafone-egypt\/","og_site_name":"EnterpriseAM Egypt","article_modified_time":"2025-12-15T22:31:32+00:00","twitter_card":"summary_large_image","twitter_image":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/7.jpg?fit=%2C&ssl=1","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/three-gcc-sovereign-wealth-funds-have-their-eye-on-tes-stake-in-vodafone-egypt\/","url":"https:\/\/enterpriseam.com\/egypt\/issues\/three-gcc-sovereign-wealth-funds-have-their-eye-on-tes-stake-in-vodafone-egypt\/","name":"Three GCC sovereign wealth funds have their eye on TE\u2019s stake in Vodafone Egypt - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/three-gcc-sovereign-wealth-funds-have-their-eye-on-tes-stake-in-vodafone-egypt\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/three-gcc-sovereign-wealth-funds-have-their-eye-on-tes-stake-in-vodafone-egypt\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/7.jpg?fit=%2C&ssl=1","datePublished":"2022-09-06T04:00:23+00:00","dateModified":"2025-12-15T22:31:32+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/issues\/three-gcc-sovereign-wealth-funds-have-their-eye-on-tes-stake-in-vodafone-egypt\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/issues\/three-gcc-sovereign-wealth-funds-have-their-eye-on-tes-stake-in-vodafone-egypt\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/three-gcc-sovereign-wealth-funds-have-their-eye-on-tes-stake-in-vodafone-egypt\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/7.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/7.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/issues\/three-gcc-sovereign-wealth-funds-have-their-eye-on-tes-stake-in-vodafone-egypt\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Issues","item":"https:\/\/enterpriseam.com\/egypt\/AMarchives\/"},{"@type":"ListItem","position":3,"name":"Three GCC sovereign wealth funds have their eye on TE\u2019s stake in Vodafone Egypt"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}}]}},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/549157","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/issue"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/549157\/revisions"}],"predecessor-version":[{"id":549190,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/549157\/revisions\/549190"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/549158"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=549157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=549157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=549157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}