{"id":549392,"date":"2022-09-15T04:00:11","date_gmt":"2022-09-15T04:00:11","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=549392"},"modified":"2025-12-15T22:37:14","modified_gmt":"2025-12-15T22:37:14","slug":"expedition-investments-consortium-acquires-33-of-domty","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/expedition-investments-consortium-acquires-33-of-domty\/","title":{"rendered":"Expedition Investments consortium acquires 33% of Domty"},"content":{"rendered":"<section id=\"549394\" 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=\"549394\">\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\/15\/this-morning-b-investments-to-announce-decision-on-adnoc-bid-for-totalenergies-egypt-govt-to-launch-intellectual-property-strategy-next-week\/\">\r\n                            THIS MORNING: B Investments to announce decision on Adnoc bid for TotalEnergies Egypt + Gov\u2019t to launch intellectual property strategy next week                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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           <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549394\" class=\"content-area-description single-story post-549394 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-adnoc tag-b-investments tag-climate tag-cop27 tag-covid-19 tag-enterpriseam tag-intellectual-property tag-ma-watch tag-policy tag-totalenergies-egypt 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, wonderful people, and a very happy THURSDAY to you all. <\/strong><\/p><p><strong>We feel a little bit as if we\u2019re swimming through molasses this morning <\/strong>after staying up way past our bedtime last night chewing over life, the universe and everything with a large group of you at the wonderful <a href=\"https:\/\/villamarakez.com\/home\">Villa M<\/a>. To everyone who attended: Thank you for your kindness \u2014 and your super-smart questions. And to everyone who chooses to start (or end) their days with us: We cannot thank you enough. Writing you is the highlight of our professional careers.<\/p><p><strong>We\u2019re also very excited this morning: The EFG Hermes One on One takes place in Dubai <\/strong><strong>next week<\/strong>, and it\u2019s the first time since before the pandemic that the world\u2019s premier frontier and emerging markets investor conference will take place face-to-face.<\/p><p><strong>Do you live and work in Dubai? Want to have coffee next week? <\/strong>A bunch of us will be in town for the One on One. Drop us a line on <a href=\"mailto:patrick@enterprisemea.com\">patrick@enterprisemea.com<\/a> and let\u2019s see if our schedules can sync up.<\/p><p><strong>HAPPENING TODAY-<\/strong><\/p><p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>M&amp;A WATCH- It\u2019s decision day for B Investments:<\/strong> Expect an announcement today from the private equity player on whether it will preempt Adnoc\u2019s bid for TotalEnergies Egypt and acquire the shares itself.<\/p><p><strong>THE STORY SO FAR- Adnoc wants TotalEnergies Egypt: <\/strong>Adnoc\u2019s distribution arm in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b9feab20-0529-4fc8-b246-002709a00f77\">late July<\/a> agreed to acquire 50% of TotalEnergies Egypt for up to USD 203 mn. This includes a 34.6% stake owned by Total Energies Marketing Afrique (TEMA) and a 15.4% share held by B Investments.<\/p><p><strong>B Investments has the right of first refusal:<\/strong> B Investments\u2019 shareholder agreement gives it the right to pre-empt Adnoc\u2019s bid and acquire TEMA\u2019s shares for itself \u2014 but has to come to a decision within a specified period of time.<\/p><p><strong>Now it\u2019s deadline day:<\/strong> The company has been deliberating on what to do for the past 6.5 weeks and has to decide whether to acquire TEMA\u2019s shares or allow Adnoc to proceed with the acquisition.<\/p><p><strong>Speaking of TotalEnergies: We don\u2019t think the company gets enough tub-tubs <\/strong>for breaking the gender barrier by employing so many women at its filling stations. More of this, please, from all of us \u2014 in every sector.<\/p><p><strong>THAT\u2019S NOT THE ONLY DEADLINE today:<\/strong><\/p><ul>\n<li>Today is the final day for <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02AWBp1x22cds9iyFD5BqLzZmAeuPYAjEMRAD1qh62r2UtFBKmTG79hZzaMXhwhuE9l\">companies to apply<\/a> for the<strong> fifth phase of the <\/strong><strong>export subsidy <\/strong><strong>program<\/strong>.<\/li>\n<li>It\u2019s the last chance for <a href=\"https:\/\/bit.ly\/3BkeMJJ\">companies to submit bids<\/a> for the government contract to <strong>renovate the Grand Continental Hotel<\/strong>.<\/li>\n<\/ul><hr class=\"grey-line\"><p><strong>WATCH THIS SPACE- Is the PM about to get a new council of economic advisors? <\/strong>A single local press outlet is reporting that Prime Minister Moustafa Madbouly is forming an economic advisory council whose members are entirely drawn from the business community. The outlet suggests that some very smart, high-profile folks are members. The catch: We reached out to a number of them, and they said they hadn\u2019t heard the news. We\u2019ll poke into this a bit further and report back if there\u2019s anything to say.<\/p><hr class=\"grey-line\"><p><strong>The fourth Egypt- and UN-led regional climate roundtable takes place today in Beirut:<\/strong> The one-day event will see climate negotiators discuss climate finance with private- and public-sector stakeholders ahead of the COP27 summit in November.<\/p><p><strong>THE BIG STORY ABROAD- It\u2019s a mixed bag in the global front pages this morning:<\/strong> US media is focused on an impending rail strike (<a href=\"https:\/\/www.nytimes.com\/2022\/09\/14\/us\/politics\/rail-strike-biden.html\">NYT<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/us-policy\/2022\/09\/14\/congress-freight-rail-strike\/?itid=hp-top-table-main-t-2\">Washington Post<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/possible-rail-stoppage-could-fuel-more-inflation-11663179267\">WSJ<\/a>), <a href=\"https:\/\/www.ft.com\/content\/e5dac84e-dabf-4408-8d65-1db0ecc315c3\">the Financial Times<\/a> leads with the new UK chancellor\u2019s pledge to scrap caps on bankers\u2019 bonuses, while the latest from Ukraine continues to be big news following the stunning retreat of Russian forces earlier this week (<a href=\"https:\/\/www.reuters.com\/world\/europe\/zelenskiy-sees-damage-recaptured-towns-russia-strikes-citys-water-system-2022-09-14\/\">Reuters<\/a> | <a href=\"https:\/\/apnews.com\/article\/russia-ukraine-zelenskyy-kharkiv-804757178408e1fdfbb69c3d149faf9b?utm_source=homepage&amp;utm_medium=TopNews&amp;utm_campaign=position_3\">Associated Press<\/a>).<\/p><p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>THE END OF COVID WATCH?<\/strong> The head of the World Health Organization (WHO) just gave his most optimistic assessment of the covid-19 pandemic ever, telling reporters in a presser yesterday that it is closer than ever to being over. \u201cWe are not there yet. But the end is in sight,\u201d <a href=\"https:\/\/www.reuters.com\/business\/healthcare-pharmaceuticals\/who-chief-says-end-sight-covid-19-pandemic-2022-09-14\/\">Reuters<\/a> quoted Director-General Tedros Adhanom Ghebreyesus as saying. Despite optimism, he urged countries to maintain their alertness and fully vaccinate high-risk groups while continuing to test for the virus. \"Now is the time to run harder and make sure we cross the line and reap the rewards of all our hard work,\u201d he said.<\/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>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>Intellectual property strategy coming soon: <\/strong>Egypt will launch its intellectual property strategy next Wednesday, Prime Minister Moustafa Madbouly said yesterday, according to a <a href=\"https:\/\/bit.ly\/3qBM6XB\">cabinet statement<\/a>. World Intellectual Property Organization (WIPO) Director-General Daren Tang will make an appearance at a ceremony being put on to launch the program, the PM said.<\/p><p><strong>We\u2019ve been expecting this for a while: <\/strong>Madbouly <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/158188ff-65a9-4146-adc1-5f53c1a3f6e5\">first flagged<\/a> that changes to intellectual property rights were in the works in his big privatization speech back in May. The strategy was finalized by the Justice Ministry and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/079de990-e2b4-4a27-9151-bf3377526faf\">sent to the Cabinet<\/a> in June.<\/p><p><strong>ADD Art is hosting its inaugural AlDau International Art Festival in Hurghada from 22 <\/strong><strong>September until 7 October<\/strong>, according to <a href=\"https:\/\/ent.news\/2022\/9\/AIAF-ENG-PR-2.docx.pdf\">a statement (pdf)<\/a>. The festival will begin with a weeklong workshop with nearly 40 artists from countries including the US, UK, France, Jordan, Tunisia, Uzbekistan, and Congo. The workshop will be followed by an exhibition from 2-7 October at the AlDau Art Promenade in Hurghada. ADD Art is a subsidiary of AlDau Developments.<\/p><p><strong>PSA- Tech startups have two weeks to apply for DMZ Cairo\u2019s <\/strong>second eight-month incubation program, which begins in November. Applications for the cycle are open until Thursday, 29 September, according to <a href=\"https:\/\/ent.news\/2022\/9\/PR-DMZ-Cairo-Last-Call.pdf\">a statement (pdf).<\/a> The incubator is based at the Universities of Canada in Egypt and is backed by the Academy of Scientific Research and Technology and the National Technological Incubators Program.<\/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>\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\/adnoc\/\">ADNOC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/b-investments\/\">B Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate\/\">Climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/intellectual-property\/\">intellectual property<\/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\/policy\/\">policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/totalenergies-egypt\/\">TotalEnergies Egypt<\/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=\"549395\" 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=\"549395\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/15\/549395\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549395\" class=\"content-area-description single-story post-549395 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/somabay.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/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=\"549396\" 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=\"549396\">\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\/15\/expedition-investments-consortium-acquires-33-of-domty\/\">\r\n                            Expedition Investments consortium acquires 33% of Domty                        <\/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\/15\/expedition-investments-consortium-acquires-33-of-domty\/\" 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\/15\/expedition-investments-consortium-acquires-33-of-domty\/')\">\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\/15\/expedition-investments-consortium-acquires-33-of-domty\/\">\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=Expedition Investments consortium acquires 33% of Domty&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/15\/expedition-investments-consortium-acquires-33-of-domty\/\">\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\/15\/expedition-investments-consortium-acquires-33-of-domty\/&title=Expedition Investments consortium acquires 33% of Domty\">\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=Expedition+Investments+consortium+acquires+33%25+of+Domty+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F15%2Fexpedition-investments-consortium-acquires-33-of-domty%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\/15\/expedition-investments-consortium-acquires-33-of-domty\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/228.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"549397\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/15\/expedition-investments-consortium-acquires-33-of-domty\/228-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/228.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"228.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/228.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/228.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549396\" class=\"content-area-description single-story post-549396 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-domty tag-egx tag-enterpriseam tag-expedition-investments tag-ma-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-01\"><\/a> <strong>Expedition bags (almost) all of its targeted shares in Domty:<\/strong> Shareholders in EGX-listed Domty agreed to sell 93.0 mn shares to a consortium of investors led by Expedition Investments in a mandatory tender offer that closed yesterday, according to an <a href=\"https:\/\/ent.news\/2022\/9\/Screen-Shot-2022-09-14-at-2.57.22-PM.png\">EGX bulletin<\/a>. That\u2019s 97% of the 96.2 mn shares <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/221c8cbc-f6ff-4e5c-920c-a9b39ced2543\">the consortium was targeting<\/a>, handing it a 32.9% stake in the firm. At Expedition\u2019s revised offer price of EGP 5.50 per share, the transaction was worth some EGP 511.6 mn by our math.<\/p>\n<p><strong>REFRESHER- <\/strong>Domty shareholders had from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bd3db4c2-7cdc-487e-b5af-0b2804252e38\">mid-August<\/a> until end of close on Wednesday to sell their shares under the mandatory tender offer (MTO). Expedition <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7a63ba68-ee41-491f-8ac1-93b887152970\">upped its original offer price<\/a> by 10% last week to EGP 5.50 a share, after BDO <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a0c1a35b-97e3-4128-b5bb-9c4f320a7f7f\">valued the company<\/a> at EGP 6.90 per share.<\/p>\n<p><strong>Damatis dominate Domty:<\/strong> The Damati family \u2014 which founded Domty and already controlled 56% of the company \u2014 are part of the consortium that acquired the 33% stake and own minority stakes in Expedition, meaning they now control some 89% of the company\u2019s shares. Expedition is a special purpose vehicle domiciled in Mauritius and controlled by undisclosed investors in Egypt and the Gulf.<\/p>\n<p><strong>Advisors:<\/strong> Our friends at EFG Hermes quarterbacked the transaction and Matouk Bassiouny & Hennawy acted as counsel to Expedition.<\/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\/domty\/\">Domty<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/expedition-investments\/\">Expedition Investments<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549398\" 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=\"549398\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/15\/one-more-gulf-acquisition-in-the-bag-kuwaits-sovereign-fund-joins-the-party\/\">\r\n                            One more Gulf acquisition in the bag + Kuwait\u2019s sovereign fund joins the party                        <\/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\/15\/one-more-gulf-acquisition-in-the-bag-kuwaits-sovereign-fund-joins-the-party\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The transaction was first agreed in July, with the company at the time saying it would be funded from its reserves of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/72ba8ef5-72b9-4980-95a0-3aad6a31d3c7\">more than AED 3 bn<\/a> (USD 816.7 mn).<\/p>\n<p><strong>What ADP got: <\/strong><a href=\"https:\/\/www.iacc.holdings\/about\/who-we-are\">IACC Holdings<\/a> is an investment company that focuses on shipping and logistics, founded and led by our friends at <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/31\/my-morning-routine-nada-el-ahwal-corporate-development-director-at-iacc-holdings\/\">El Ahwal family<\/a>. It is the sole owner of Egypt-based shipping firm <a href=\"https:\/\/www.transmar.com\/\">Transmar<\/a> and terminal operator <a href=\"https:\/\/tciegypt.com\/\">Transcargo International (TCI)<\/a> and also owns two other shipping companies, Safina and IACC Logistics, according to its website. Transmar and TCI are on track to deliver combined revenues of around USD 137 mn and EBITDA of USD 65 mn in 2022, according to the statement.<\/p>\n<p><strong>No changing of the guard: <\/strong>The Ahwal family and its executive team will continue to manage Transmar and TCI \u201cunder the guidance and support of the board and in conjunction with [ADP],\u201d the statement confirmed.<\/p>\n<p><strong>This isn\u2019t the first time ADP has called at our ports:<\/strong> The company has so far this year signed several contracts with port authorities and the Transport Ministry to build and run multi-purpose terminals in the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ad18b775-3e22-4e6b-b4fc-9dd30f4b85ad\">Safaga<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5e296366-a7ef-480b-9002-958773f10d74\">Ain Sokhna<\/a> ports, cruise ship berths and terminals in various Red Sea ports, and a river port in Minya. ADP is majority-owned by Abu Dhabi sovereign wealth fund ADQ, which bought 32% of Alexandria Container & Cargo Handling as part of its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b4a11664-2159-45ba-ba2f-bf0d3dfd3978\">USD 1.8 bn investment<\/a> in five EGX-listed companies in April. ADQ also acquired our friends at SODIC, the upmarket developer, in a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6ff33ea0-89c5-479c-87c3-bace1f57c63c\">blockbuster transaction<\/a> nearly a year ago.<\/p>\n<p><strong>Advisors: <\/strong> Transmar and TCI had <a href=\"https:\/\/ent.news\/2022\/9\/AD-Port-x-IACC-Acquisition-English.pdf\">E<\/a><a href=\"https:\/\/ent.news\/2022\/9\/AD-Port-x-IACC-Acquisition-English.pdf\">FG Hermes (pdf)<\/a> acting as the exclusive financial advisor and White & Case as counsel. KPMG acted as the financial advisor to ADP, while PwC acted as the buyer\u2019s commercial advisor and Matouk Bassiouny and Hennawy as its legal advisor.<\/p>\n<hr class=\"grey-line\">\n<p><strong>KIA buys stake in Rameda:<\/strong> The Kuwaiti sovereign wealth fund acquired a 4.81% stake in Rameda Pharma yesterday, <a href=\"https:\/\/bit.ly\/3U7f27j\">Hapi Journal<\/a> reported. The transaction was made by <a href=\"https:\/\/ekuity.com\/en\/\">Ekuity Holding<\/a>, a subsidiary of the Kuwait Investment Authority (KIA), which according to <a href=\"https:\/\/ent.news\/2022\/9\/Screenshot-2022-09-14-152753.pdf\">data published by the EGX (pdf)<\/a> purchased 48.14 mn shares at EGP 3.00 apiece. This is a 12% premium to Rameda\u2019s closing share price on Tuesday.<\/p>\n<p><strong>Who\u2019s the seller?<\/strong> Sources told the newspaper that a \u201cSwedish asset manager\u201d sold its shares, without disclosing its identity. Publicly available data suggests that Swedbank Robur Fonder, holds a 4.81% stake in the company.<\/p>\n<p><strong>Advisors: <\/strong>EFG Hermes brokered the transaction.<\/p>\n<p><strong>Kuwait joins the Gulf investment party? <\/strong>Gulf sovereign funds have been piling into Egypt after GCC countries pledged more than USD 22 bn in direct investment to help the country weather global economic headwinds. While Kuwait wasn\u2019t part of those pledges, some analysts had said it could pitch in with up to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce28f2c9-69b3-4c78-b2ab-1eb5d194e101\">USD 2 bn<\/a>. The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/316415e5-ccc3-42ca-b442-80dd3b8b2e16\">Saudi<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b4a11664-2159-45ba-ba2f-bf0d3dfd3978\">Abu Dhabi<\/a> funds have spent more than USD 3 bn to snap up holdings in big-name EGX-listed firms this year. The Saudi wealth fund also <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d183b0b5-6e15-4503-a9da-566a821f9732\">recently bought<\/a> an 11.0% stake in Rameda over two transactions.<\/p>\n<p><strong>Ekuity has had expansion plans here since before 2022 went to hell: <\/strong>Last year, the company said it was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/318b323f-7cb1-4fde-9876-815fc30157cd\">eyeing acquisitions<\/a> of minority stakes in four to five food and pharma companies in Egypt over the following two years. The KIA subsidiary, which owns close to 50% of local lender AAIB, acquired 30% of Egypt\u2019s Nile Aluminum and Metals Company (AluNile) <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/03\/ekuity-acquires-30-stake-in-alunile-from-ezdehar-egypt-mid-cap-fund\/\">back in 2019<\/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\/abu-dhabi-ports\/\">Abu Dhabi Ports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/iacc\/\">IACC<\/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\/transcargo\/\">Transcargo<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549400\" 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=\"549400\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/15\/uaes-tabreed-makes-inroads-locally-with-egp-1-6-bn-capitalmed-contract\/\">\r\n                            UAE\u2019s Tabreed makes inroads locally with EGP 1.6 bn CapitalMed contract                        <\/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\/15\/uaes-tabreed-makes-inroads-locally-with-egp-1-6-bn-capitalmed-contract\/\" 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\/15\/uaes-tabreed-makes-inroads-locally-with-egp-1-6-bn-capitalmed-contract\/')\">\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\/15\/uaes-tabreed-makes-inroads-locally-with-egp-1-6-bn-capitalmed-contract\/\">\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=UAE\u2019s Tabreed makes inroads locally with EGP 1.6 bn CapitalMed contract&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/15\/uaes-tabreed-makes-inroads-locally-with-egp-1-6-bn-capitalmed-contract\/\">\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\/15\/uaes-tabreed-makes-inroads-locally-with-egp-1-6-bn-capitalmed-contract\/&title=UAE\u2019s Tabreed makes inroads locally with EGP 1.6 bn CapitalMed contract\">\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=UAE%E2%80%99s+Tabreed+makes+inroads+locally+with+EGP+1.6+bn+CapitalMed+contract+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F15%2Fuaes-tabreed-makes-inroads-locally-with-egp-1-6-bn-capitalmed-contract%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\/15\/uaes-tabreed-makes-inroads-locally-with-egp-1-6-bn-capitalmed-contract\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/235.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"549401\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/15\/uaes-tabreed-makes-inroads-locally-with-egp-1-6-bn-capitalmed-contract\/235-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/235.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"235.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/235.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/235.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549400\" class=\"content-area-description single-story post-549400 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-egyptians-for-healthcare-services tag-enterpriseam tag-investment-watch tag-tabreed 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>The UAE\u2019s <\/strong><strong><a href=\"https:\/\/www.tabreed.ae\/\">Tabreed<\/a><\/strong><strong> lands EGP 1.6 bn CapitalMed contract: <\/strong>Dubai-listed district cooling firm <a href=\"https:\/\/www.tabreed.ae\/\">Tabreed<\/a> will design, build and operate a heating and cooling plant at the Badr city medical complex as part of an AED 306.4 mn (EGP 1.6 bn) contract signed with project developer <a href=\"https:\/\/ehcs.com.eg\/page\/6\/\">Egyptians for Healthcare Services (EHCS)<\/a>, it said in <a href=\"https:\/\/ent.news\/2022\/9\/TABREED_DFM1_14_09_2022.pdf\">a disclosure to the Dubai stock exchange (pdf)<\/a>. Shaker Consultancy will join Tabreed on the project design, according to a <a href=\"https:\/\/ent.news\/2022\/9\/tabreed-EHCS.pdf\">press release (pdf)<\/a>.<\/p>\n<p><strong>Tabreed likes it here: <\/strong>The agreement comes as Tabreed looks to expand its local operations, after entering our market in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b5ad5b8c-53b3-4500-ae72-f9383cf01093\">February<\/a> with a contract to provide cooling services for Marakez\u2019s D5M Mall in New Cairo.<\/p>\n<p><strong>About CapitalMed: <\/strong>The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/712c90c6-bbf3-4971-906f-67acee8ae97c\">EGP 18 bn<\/a> private medical complex aims to serve as many as 20 mn people and include a general hospital and 19 specialist centers. Construction has begun on the first phase, which should open its doors next year. The International Finance Corporation <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3053d272-9665-4c15-a6ba-ed305a45f5cd\">came on board in June<\/a> to help EHCS design, structure, budget, and manage the project, as well as to manage the equity side of its financing. EHCS Chairman and Managing Director Hassan El Kalla has described it as \u201cthe largest-ever development for healthcare in Egypt.\u201d<\/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\/egyptians-for-healthcare-services\/\">Egyptians for Healthcare Services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tabreed\/\">Tabreed<\/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=\"549402\" 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=\"549402\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/15\/egypt-qatar-ink-mous-on-investment-ports-and-social-affairs-a-roundup-of-other-news-on-the-diplomatic-front\/\">\r\n                            Egypt, Qatar ink MoUs on investment, ports and \u201csocial affairs\u201d + a roundup of other news on the diplomatic front                        <\/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\/15\/egypt-qatar-ink-mous-on-investment-ports-and-social-affairs-a-roundup-of-other-news-on-the-diplomatic-front\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The two sides also signed an agreement to cooperate on ports and another \u201cin the field of social affairs,\u201d it said, without providing further details.<\/p>\n<p><strong>El Sisi\u2019s primary mission: Line up investment.<\/strong> Investment was top of the agenda for the president as he headed to Doha for the first time since the two countries normalized ties last year. Qatar has joined with the UAE and Saudi Arabia and pledged to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c734fc23-c0c0-4322-bf5d-ce3c400e707a\">invest USD 5 bn<\/a> here to help shield us from the fallout from the war in Ukraine. Unlike the other two Gulf monarchies, the Qataris are yet to act: The two governments have reportedly been in talks for weeks over potential investments from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/86e5c98f-26ec-4505-a0c3-3f85a5264bc8\">Qatari firms<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/16d8e297-b643-4497-9e65-4ad4fef63817\">the QIA<\/a> but nothing has yet been announced.<\/p>\n<p><strong>Investment was indeed part of the conversation between El Sisi and Qatari Emir <\/strong><strong>Tamim bin Hamad Al Thani yesterday<\/strong>, according to <a href=\"https:\/\/www.qna.org.qa\/en\/News-Area\/News\/2022-09\/14\/0026-hh-the-amir,-egyptian-president-hold-official-talks-session\">a statement<\/a> from the emir\u2019s office. It also noted that the two discussed transport and social affairs, but didn\u2019t provide any further information. El Sisi also held meetings with Qatari business leaders yesterday, talking up investment prospects in Egypt\u2019s agriculture, commercial, real estate and industrial sectors, the <a href=\"https:\/\/www.qna.org.qa\/en\/News-Area\/News\/2022-09\/14\/0033-egyptian-president-calls-qatari-businessmen-to-invest-in-his-country\">Qatar News Agency<\/a> reported.<\/p>\n<p><strong>An olive branch:<\/strong> Egypt has released Al Jazeera journalist Ahmed Al Nagdy who had been held in pretrial detention since August 2020, <a href=\"https:\/\/www.reuters.com\/world\/africa\/egypt-frees-detained-al-jazeera-journalist-al-jazeera-2022-09-14\/\">Reuters<\/a> reported, citing statements by Al Nagdy\u2019s lawyer to Al Jazeera.<\/p>\n<p><strong>The visit was everywhere on the airwaves last night<\/strong>, though the talking heads didn\u2019t add much to what we already know transpired at the meetings: Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=i4Pq46bYSBs\">watch, runtime: 2:56<\/a>), Ala Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=zByhKS1fTlU\">watch, runtime: 3:35<\/a>), Yahduth Fi Masr (<a href=\"https:\/\/www.youtube.com\/watch?v=2CajiqsCiUE\">watch, runtime: 2:58<\/a>) and Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=fqwoODfm23c\">watch, runtime: 5:39<\/a>) all covered the story.<\/p>\n<p><strong>The news got ink from the international press:<\/strong> <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-09-14\/el-sisi-in-qatar-eyes-new-investment-for-egypt-s-ailing-economy?srnd=premium-middle-east\">Bloomberg<\/a> | <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/egypt-qatar-sign-agreements-boost-cooperation-during-state-visit-2022-09-14\/\">Reuters<\/a> | <a href=\"https:\/\/www.barrons.com\/news\/qatar-egypt-sign-memoranda-of-understanding-as-sisi-visits-01663161008?refsec=topics_afp-news\">AFP<\/a>.<\/p>\n<p><strong>US TO CONTINUES CUT TO MILITARY AID-<\/strong><\/p>\n<p><strong>The US State Department has decided to offer Egypt USD 170 mn in conditional mil<\/strong><strong>itary <\/strong><strong>aid<\/strong>, the same amount as 2021 after it withheld USD 130 mn due to human rights concerns, <a href=\"https:\/\/www.reuters.com\/world\/us-withhold-130-mln-military-aid-egypt-over-human-rights-official-2022-09-14\/\">Reuters<\/a> and <a href=\"https:\/\/www.nytimes.com\/2022\/09\/14\/us\/politics\/egypt-military-aid-biden.html?searchResultPosition=1\">New York Times<\/a> reported last night. Though several Democratic lawmakers <a href=\"https:\/\/ent.news\/2022\/9\/US-lawmakers.pdf\">were calling (pdf)<\/a> on the Biden administration to suspend the entire USD 300 mn in conditional aid, Secretary of State Anthony Blinken reportedly decided to provide USD 75 mn because of the government\u2019s progress releasing political detainees. Another USD 95 mn will be transferred for counterterrorism and border security.<\/p>\n<p><strong>EGYPT SIDES WITH IRAN AS WEST DEMANDS ANSWERS ON URANIUM TRACES-<\/strong><\/p>\n<p><strong>Egypt refused to endorse a non-binding statement by major Western powers pressuring <\/strong><strong>Iran<\/strong> to provide an explanation on why traces of enriched uranium were found at previously undeclared sites in 2019, <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/two-thirds-iaea-board-backs-western-statement-pressuring-iran-2022-09-14\/\">Reuters<\/a> reports. Two-thirds of the 35-nation board of the International Atomic Energy Agency backed the statement put forward by the US, UK, France and Germany; while Egypt and 11 others didn\u2019t give their support. Among them: Brazil, South Africa, Argentina and Mexico.<\/p>\n<p><strong>EGYPT IS NOW A MEMBER OF THE SCO-<\/strong><\/p>\n<p><strong>Egypt has officially joined the Shanghai Cooperation Organization:<\/strong> The Foreign Ministry signed a MoU to join the Shanghai Cooperation Organization (SCO) as a dialogue member ahead of its annual summit in Uzbekistan, according to a <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/pfbid02V3v95sWXCnjoD51SF21nMN9Uuhi1NG7LNadczLxpU7jb2zKs23a18AskoaSpVgjZl\">ministry statement<\/a>. Egypt, along with Saudi Arabia and Qatar, were approved to become dialogue partners last year and have now acceded to the SCO, giving them a seat at the table at this week\u2019s summit.<\/p>\n<p><strong>Uh, the SC-what?<\/strong> Founded in 1996, the SCO was originally designed to increase cooperation between Russia, China and the former USSR states in Eurasia but has expanded to include other regional powers such as India, Iran, Turkey and Pakistan. Egypt and Saudi Arabia are the first Arab states to become SCO members.<\/p>\n<p><strong>What does this get us?<\/strong> A seat at the table. Egypt will now be able to attend meetings of member states and working groups, though we won\u2019t have much input into decision-making.<\/p>\n<p><strong>That\u2019s not the only new international alliance we\u2019re trying to get involved with:<\/strong> Egypt <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/21ab2964-2247-49c5-9382-21eb9d2a5620\">reportedly wants to become a member of the BRICS<\/a> (Brazil, Russia, India, China, South Africa) group of emerging economies.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/iran\/\">Iran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-security\/\">national security<\/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\/qatar\/\">Qatar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/shanghai-cooperation-organization\/\">Shanghai Cooperation Organization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549404\" 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=\"549404\">\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\">Commodities<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/15\/egypt-lifts-ban-on-exports-of-food-staples\/\">\r\n                            Egypt lifts ban on exports of food staples                        <\/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\/15\/egypt-lifts-ban-on-exports-of-food-staples\/\" 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\/15\/egypt-lifts-ban-on-exports-of-food-staples\/')\">\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\/15\/egypt-lifts-ban-on-exports-of-food-staples\/\">\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 lifts ban on exports of food staples&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/15\/egypt-lifts-ban-on-exports-of-food-staples\/\">\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\/15\/egypt-lifts-ban-on-exports-of-food-staples\/&title=Egypt lifts ban on exports of food staples\">\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+lifts+ban+on+exports+of+food+staples+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F15%2Fegypt-lifts-ban-on-exports-of-food-staples%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\/15\/egypt-lifts-ban-on-exports-of-food-staples\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/238.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"549405\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/15\/egypt-lifts-ban-on-exports-of-food-staples\/238-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/238.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"238.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/238.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/238.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549404\" class=\"content-area-description single-story post-549404 post type-post status-publish format-standard has-post-thumbnail hentry category-commodities tag-commodities tag-enterpriseam tag-flour tag-wheat wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Exports of food staples are back on the menu: <\/strong>The Madbouly government has lifted a ban on the export of food staples that it had introduced earlier this year in response to the global food crisis triggered by the war in Ukraine, <a href=\"https:\/\/www.nasdaq.com\/articles\/egypt-lifts-export-ban-on-food-staples-document\">Reuters<\/a> reports, citing a Trade Ministry document. Producers are now able to sell wheat, flour, corn, lentils, pasta, fava beans and vegetable oils to overseas buyers, according to the document. The three-month ban was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b0de30ab-61c5-41f0-a91f-f7ffd44cecd4\">introduced in March<\/a> and then <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/065204a9-fed6-4be9-8ae3-25897092105c\">extended for another three months in June<\/a> in a bid to conserve local supplies amid spiraling prices and global shortages caused by the conflict. <a href=\"https:\/\/bit.ly\/3BkPjQ7\">Al Mal<\/a> also has the story.<\/p>\n<p><strong>Lifting the ban is a signal the government\u2019s concerns about food insecurity are easing:<\/strong> Authorities have been working to shore up the country\u2019s reserves of basic food commodities, enacting emergency measures to boost domestic wheat production and negotiating directly with overseas suppliers to secure grain cargoes. We now have a seven-month stockpile of wheat reserves, according to <a href=\"https:\/\/bit.ly\/3eFFxR0\">statements<\/a> by Supply Minister Ali El Moselhy, and enough vegetable oils to last for about six months.<\/p>\n<p><strong>Egypt wasn\u2019t the only \u201cfood nationalist\u201d of 2022:<\/strong> At least 19 food producers imposed export restrictions this year in response to the crisis, worsening global shortages and fuelling further inflation.<\/p>\n<p><strong>MEANWHILE- The Consumer Protection Agency (CPA) <\/strong><strong><a href=\"https:\/\/bit.ly\/3UabmSk\">is warning<\/a><\/strong><strong> shops to abide by new <\/strong><strong>price controls on rice <\/strong>that the state imposed last week. The price of packed rice is capped at EGP 15 per kg, while unpacked rice can sell for no more than 12 per kg under an order published in the Official Gazette on Thursday. Traders caught selling rice at higher prices will be at risk of fines of between EGP 100k and EGP 5 mn.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/flour\/\">flour<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549406\" 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=\"549406\">\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\">Cabinet watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/15\/an-egp-2-coin-will-be-in-circulation-soon-is-global-blue-coming-to-egypt\/\">\r\n                            An EGP 2 coin will be in circulation soon + is Global Blue coming to 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\/15\/an-egp-2-coin-will-be-in-circulation-soon-is-global-blue-coming-to-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\/15\/an-egp-2-coin-will-be-in-circulation-soon-is-global-blue-coming-to-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\/15\/an-egp-2-coin-will-be-in-circulation-soon-is-global-blue-coming-to-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=An EGP 2 coin will be in circulation soon + is Global Blue coming to Egypt?&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/15\/an-egp-2-coin-will-be-in-circulation-soon-is-global-blue-coming-to-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\/15\/an-egp-2-coin-will-be-in-circulation-soon-is-global-blue-coming-to-egypt\/&title=An EGP 2 coin will be in circulation soon + is Global Blue coming to 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=An+EGP+2+coin+will+be+in+circulation+soon+%2B+is+Global+Blue+coming+to+Egypt%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F15%2Fan-egp-2-coin-will-be-in-circulation-soon-is-global-blue-coming-to-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\/15\/an-egp-2-coin-will-be-in-circulation-soon-is-global-blue-coming-to-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549406\" class=\"content-area-description single-story post-549406 post type-post status-publish format-standard hentry category-cabinet-watch tag-cabinet-watch tag-currencies tag-egp tag-enterpriseam tag-suez-canal-economic-zone tag-tax tag-tourism tag-vat wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>We\u2019re getting an EGP 2 coin and an Egyptian-British mint<\/strong> <strong>in the Suez Canal <\/strong><strong>Economic Zone (<\/strong><strong>SCZone<\/strong><strong>)<\/strong> after cabinet approved the moves at its weekly meeting yesterday, according to <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02AjjpVVKQ3KbTaJVhPWKomq2zcGczauebVfK5SF5jeb3oLKD4rgTnBzxnyYWmkDiWl?__cft__[0]=AZXS6ExvG08PxJh2diT059mYZqlyvUlWF39q-K7T3YY9l4_frcpbPGnx6r89VcikIiH6s-Wl9L5Z8TKPaR-9XU0hq5fIdDMK5YGei50uPNMfG0uwP93Ll7gJGzgq1CxPgebdJ6ncAEZMlbMAY3svFk5E_3WdNOD2SHVeAU8OXteN3l96vFOZP8R5JWGL7XKV6SlRrfgPpSq0T3J9xCK9a__J&__tn__=%2CO%2CP-R\">a statement<\/a>. The <a href=\"https:\/\/www.royalmint.com\/\">Royal British Mint<\/a>, the <a href=\"http:\/\/www.egyptmint.gov.eg\/\">Egyptian Mint<\/a>, and the <a href=\"http:\/\/pta.gov.eg\/\">Public Treasury Authority<\/a> will partner on the roll-out and operation of the new mint as part of the Sisi administration\u2019s bid to localize industries, the statement read.<\/p>\n<p><strong>The announcement of the new coin got lots of airtime <\/strong>on the talk shows last night: (Yahduth Fi Masr | <a href=\"https:\/\/www.youtube.com\/watch?v=fgvOWx7r4hI\">watch, runtime: 5:13<\/a> | Salet El Tahrir | <a href=\"https:\/\/www.youtube.com\/watch?v=tolMsDTLpw8\">watch, runtime: 6:57<\/a> | Masaa DMC | <a href=\"https:\/\/www.youtube.com\/watch?v=tolMsDTLpw8\">watch, runtime: 6:10<\/a>)<\/p>\n<p><strong>ALSO- The government wants tourists to spend more: <\/strong>Cabinet also gave the greenlight to establish a local branch of payments company <a href=\"https:\/\/www.globalblue.com\/business\/\">Global Blue<\/a>, which will digitize the VAT drawback system for tourists, making it easier for them to claim refunds.<\/p>\n<p><strong>REFRESHER- <\/strong>Under amendments to the VAT and the Stamp Tax laws <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/452ec282-ab56-42ab-a1b4-1b9ed9424e83\">ratified<\/a> in February, tourists can claim <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dfc67e37-c933-4e2a-ae7a-c3989d612716\">VAT rebates<\/a> on their way out of the country for purchases of select items worth more than EGP 1.5k or more, down from a previous EGP 5k threshold.<\/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\/cabinet-watch\/\">cabinet watch<\/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\/egp\/\">EGP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-economic-zone\/\">Suez Canal Economic Zone<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vat\/\">VAT<\/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=\"549407\" 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=\"549407\">\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\">Kudos<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/15\/hsbc-snags-sustainable-investing-awards-3-regional-startups-crowned-in-flat6labs-femtech-accelerator\/\">\r\n                            HSBC snags sustainable investing awards + 3 regional startups crowned in Flat6Labs\u2019 femtech accelerator                        <\/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\/15\/hsbc-snags-sustainable-investing-awards-3-regional-startups-crowned-in-flat6labs-femtech-accelerator\/\" target=\"_blank\">\n                    Open in new tab                   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accelerator\">\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=HSBC+snags+sustainable+investing+awards+%2B+3+regional+startups+crowned+in+Flat6Labs%E2%80%99+femtech+accelerator+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F15%2Fhsbc-snags-sustainable-investing-awards-3-regional-startups-crowned-in-flat6labs-femtech-accelerator%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\/15\/hsbc-snags-sustainable-investing-awards-3-regional-startups-crowned-in-flat6labs-femtech-accelerator\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549407\" class=\"content-area-description single-story post-549407 post type-post status-publish format-standard hentry category-kudos tag-awards tag-enterpriseam tag-femtech tag-flat6labs tag-hsbc tag-kudos tag-startups wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>HSBC Qatar got kudos at <\/strong><strong><a href=\"https:\/\/www.theasset.com\/\">The Asset\u2019s<\/a><\/strong><strong> Triple A Sustainable Investing <\/strong><strong><a href=\"https:\/\/www.theasset.com\/awards-single\/asset-servicing-investor-fund-management\">awards<\/a><\/strong><strong>. <\/strong>The bank\u2019s Qatari branch was named best sub-custodian, best domestic custodian, and best fund administrator for retail funds for the second consecutive year, it said in a <a href=\"https:\/\/ent.news\/2022\/9\/HSBC-ranks-best-at-The-Asset-Triple-A-Awards-FINAL.pdf\">statement<\/a><a href=\"https:\/\/ent.news\/2022\/9\/HSBC-ranks-best-at-The-Asset-Triple-A-Awards-FINAL.pdf\">(pdf)<\/a>. HSBC received 35 awards in total across various markets. See the full list of awardees <a href=\"https:\/\/www.theasset.com\/awards-single\/asset-servicing-investor-fund-management\">here<\/a>.<\/p>\n<p><strong>Flat6Labs and healthcare firm Organon have announced the three winners of the <\/strong><strong>MENA region\u2019s first femtech accelerator program: <\/strong>Greek-Lebanese firm <a href=\"https:\/\/www.omgyno.com\/\">Omgyno<\/a>, which offers at-home gynecological testing and telehealth services, Lebanese mental health platform <a href=\"https:\/\/siira.me\/\">Siira<\/a>, and <a href=\"https:\/\/www.maternallyapp.com\/\">Maternally<\/a>, whose platform provides mental health support for pre- and postnatal women were selected by the organizers, according to <a href=\"https:\/\/ent.news\/2022\/9\/Organon-and-Flat6Labs-Announce-Winners-of-MENA-Regions-First-Digital-Health-FemTech-Accelerator.pdf\">a press release (pdf)<\/a> Tuesday. The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0c85b753-c915-4809-a035-491b881b9076\">four-month virtual accelerator<\/a> supported 10 women-led digital healthcare start-ups operating in MENA to build products, test market fit and improve business models.<\/p>\n<p><strong>Femtech? <\/strong>The female technology (femtech) market in MENA could be worth USD 3.8 bn by 2031, according to Flat6Labs. We\u2019ve done your homework for you on the growing local femtech industry: <strong>Check out <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/79afbe26-96bd-416c-9e9a-c31950e6619e\">what we found here<\/a><\/strong><strong>.<\/strong><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/awards\/\">awards<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/femtech\/\">Femtech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/flat6labs\/\">Flat6Labs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hsbc\/\">HSBC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kudos\/\">KUDOS<\/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=\"549408\" 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=\"549408\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/15\/549408\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549408\" class=\"content-area-description single-story post-549408 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.sodic.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/Sodic-25_IDEAS_1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549409\" 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=\"549409\">\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\/15\/el-sisi-in-qatar-the-egp-2-coin-generate-conversation-on-the-airwaves\/\">\r\n                            El Sisi in Qatar + the EGP 2 coin generate conversation 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\/15\/el-sisi-in-qatar-the-egp-2-coin-generate-conversation-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(); 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In an interview on Ala Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=nR2MtcdgLU0\">watch, runtime: 4:25<\/a>), Cabinet spokesman Nader Saad said that the event would last three days and that participants would discuss the final draft of the government\u2019s state ownership document. Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=vnT3DXcO8SU\">watch, runtime: 2:07<\/a>) and Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=Q2_l7VO9NRk\">watch, runtime: 2:59<\/a>) also covered the conference.<\/p>\n<p><strong>Startups for dummies:<\/strong> In a startup-focused segment inspired by the Capiter chaos, Yahduth Fi Masr\u2019s Sherif Amer asked questions both big (what does a post-Capiter Egyptian startup scene look like?) and small (how does a startup work, exactly?). Joining the show to discuss Capiter, Eslam Darwish, founding partner of fintech fund <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/51710abc-abe2-41fc-a5bf-465d12117001\">Nclude<\/a>, put the company\u2019s collapse down to \u201cpoor governance\u201d and said that the fact the company was able to raise USD 33 mn is a sign of optimism for Egypt\u2019s startup scene (<a href=\"https:\/\/www.youtube.com\/watch?v=wq2a9YCuS7Q\">watch, runtime: 2:56<\/a>). Meanwhile, RiseUp\u2019s Abdelhameed Sharara was on hand to explain to the layman how startups work (<a href=\"https:\/\/www.youtube.com\/watch?v=a2xtPnS9RCQ\">watch, runtime: 2:34<\/a>).<\/p>\n<p><strong>ALSO LAST NIGHT- <\/strong>Cabinet spokesman Nader Saad said that the government\u2019s <strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d8825220-3a11-4b4f-85d0-10a069902e3a\">electricity<\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d8825220-3a11-4b4f-85d0-10a069902e3a\">rationing plan<\/a><\/strong> has saved Egypt a lot of gas, though he didn\u2019t provide any figures (Ala Mas\u2019ouleety | <a href=\"https:\/\/www.youtube.com\/watch?v=FN_gi0aidoY\">watch, runtime: 2:24<\/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\/capiter\/\">Capiter<\/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\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"549410\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF 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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-sxb8u46\" data-v=\"4\" data-block-id=\"sxb8u46\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-sxb8u46-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-sxb8u46-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-8ltwmqd\" data-v=\"4\" data-block-id=\"8ltwmqd\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-8ltwmqd-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-8ltwmqd-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-5qfwist\" data-v=\"4\" data-block-id=\"5qfwist\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-5qfwist-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-5qfwist-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-cwxiguf\" data-v=\"4\" data-block-id=\"cwxiguf\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-cwxiguf-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-cwxiguf-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=\"549411\" 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=\"549411\">\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\/15\/cop27-is-in-the-foreign-press-again-for-the-wrong-reasons\/\">\r\n                            COP27 is in the foreign press again (for the wrong reasons)                        <\/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\/15\/cop27-is-in-the-foreign-press-again-for-the-wrong-reasons\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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href=\"https:\/\/api.whatsapp.com\/send?text=COP27+is+in+the+foreign+press+again+%28for+the+wrong+reasons%29+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F15%2Fcop27-is-in-the-foreign-press-again-for-the-wrong-reasons%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\/15\/cop27-is-in-the-foreign-press-again-for-the-wrong-reasons\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549411\" class=\"content-area-description single-story post-549411 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-cop27 tag-enterpriseam tag-human-rights wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Leading the international press this morning, once again, is COP27<\/strong>, with <a href=\"https:\/\/foreignpolicy.com\/2022\/09\/14\/egypt-cop27-crackdown-environmental-activists-united-nations-climate-change\/\">Foreign<\/a><a href=\"https:\/\/foreignpolicy.com\/2022\/09\/14\/egypt-cop27-crackdown-environmental-activists-united-nations-climate-change\/\">Policy<\/a> commenting on recent <a href=\"https:\/\/www.hrw.org\/news\/2022\/09\/12\/egypt-government-undermining-environmental-groups\">claims<\/a> by environmental experts that authorities are clamping down on environmental civil society groups ahead of the summit and speculating on possible responses from Western governments.<\/p>\n<p><strong>Meanwhile, the Madbouly government is distancing itself from a decision to hike hotel <\/strong><strong>rates amid <\/strong><strong>accusations of price gouging<\/strong>, according to <a href=\"https:\/\/www.climatechangenews.com\/2022\/09\/14\/egyptian-government-denies-cop27-hotel-price-gouging\/\">Climate Home News<\/a>. Following the <a href=\"https:\/\/www.climatechangenews.com\/2022\/02\/24\/activists-raise-inclusivity-concerns-for-cop27-as-egypt-hikes-hotel-prices\/\">introduction of new minimum rates<\/a> by the Egyptian Hotel Association in February, COP delegates have complained that their reservations have been canceled and their rooms re-advertised for 3-6x the price. Cue a he-said-she-said situation, with both the EHA and the government denying responsibility for the decision.<\/p>\n<p>(Wait, what? Prices in a resort town spiking when the entire world descends on it for a few weeks at the start of the traditional high season? What a surprise\u2026)<\/p>\n<p><strong>Also making headlines: <\/strong><\/p>\n<ul>\n<li><strong>Why are the Gulf states coming to our rescue?<\/strong> Egypt\u2019s economic and geopolitical clout underpin the decisions by Saudi Arabia, the UAE and Qatar to provide bns of USD to support the economy, says Carnegie scholar Yasmine Farouk. (<a href=\"https:\/\/www.wsj.com\/articles\/gulf-states-rich-from-oil-spread-influence-with-financial-lifelines-11663143410\">Wall Street Journal<\/a>)<\/li>\n<li><strong>The <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/14afdbde-4caa-4737-95f6-c4b3fad5045a\">charges against Mada Masr journalists<\/a><\/strong> got ink in the German press. (<a href=\"https:\/\/www.dw.com\/en\/renewed-crackdown-endangers-egypts-last-independent-news-site\/a-63105966\">Deutsche Welle<\/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\/cop27\/\">COP27<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549412\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549413\" 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=\"549413\">\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\/15\/auto-assemblers-are-hurting\/\">\r\n                            Auto assemblers are hurting                        <\/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\/15\/auto-assemblers-are-hurting\/\" 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\/15\/auto-assemblers-are-hurting\/')\">\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\/15\/auto-assemblers-are-hurting\/\">\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=Auto assemblers are hurting&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/15\/auto-assemblers-are-hurting\/\">\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\/15\/auto-assemblers-are-hurting\/&title=Auto assemblers are hurting\">\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=Auto+assemblers+are+hurting+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F15%2Fauto-assemblers-are-hurting%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\/15\/auto-assemblers-are-hurting\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549413\" class=\"content-area-description single-story post-549413 post type-post status-publish format-standard hentry category-also-on-our-radar tag-al-amal-auto tag-also-on-our-radar tag-automotive tag-copelouzos tag-electricity tag-enterpriseam tag-greece tag-renewables tag-sumitomo wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>FROM THE DEPT. OF DUH- Auto assembly in Egypt is hurting right now:<\/strong> <a href=\"https:\/\/alamalauto.com\/\">Al Amal Auto<\/a> could be forced to shutter its factory due to import restrictions, Chairman Amr Soliman told <a href=\"https:\/\/bit.ly\/3BI7YXu\">Al Mal<\/a>. The sole agent and distributor of BYD and Lada brandpassenger cars and King Long microbuses in Egypt, Al Amal can\u2019t bring in components thanks to import restrictions. Al Amal had already suspended the assembly of the Lada Granta on the back of Western sanctions on Russia, he said.<\/p>\n<p><strong>REMEMBER- <\/strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f1237459-2827-438d-96c3-8fe7a8dce26e\">New rules<\/a> mandating the use of L\/Cs for imports were imposed by the central bank earlier this year and have made it much harder for distributors to import vehicles and assemblers to access components. Several global car manufacturers have <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3242bc1d-f416-47a6-a914-3ce472eb1c9f\">suspended sales<\/a> to Egypt after local dealers were unable to pay.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>Egypt\u2019s Ambassador to Greece<\/strong> discussed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/174d0949-75cd-49ae-bb8d-6abd66ec4206\">Egypt-Greece interconnection projects<\/a> with the CEO of Greek infrastructure investor and project developer <strong>Copelouzos Group<\/strong>. (<a href=\"https:\/\/bit.ly\/3Lji8RS\">Statement<\/a>)<\/li>\n<li>Japanese conglomerate <strong>Sumitomo Corporation<\/strong> wants in on <strong>renewable energy <\/strong>and <strong>electricity interconnection<\/strong> projects in <strong>Egypt<\/strong>. (<a href=\"https:\/\/bit.ly\/3qCK5KN\">Statement<\/a>)<\/li>\n<li><strong>Abu Dhabi Commercial Bank Egypt<\/strong> and the <strong>European Bank for Reconstruction and Development<\/strong> are providing finance to <strong>Elsewedy Technical Academy<\/strong> to fund the first semester of vocational training for special needs students. (<a href=\"https:\/\/bit.ly\/3djeV82\">Hapi Journal<\/a>)<\/li>\n<li>The <strong>Administrative Capital for Urban Development Company<\/strong> has allocated land in the <strong>new capital<\/strong> for the construction of a branch of <strong>Italy\u2019s Bambino Ges\u00f9 hospital<\/strong>. (<a href=\"https:\/\/www.facebook.com\/ACUDEGY\/posts\/pfbid0ssYWiCA4dk9MEXBuRXgAcW4WbkFf6qdvgB47g1rnTC1qJZnVXrj2uKKd75bUEiGul\">Statement<\/a>)<\/li>\n<li><strong>Amazon Egypt <\/strong>has started offering local sellers the option to increase their visibility on its platform through <strong>sponsored ads<\/strong>. (<a href=\"https:\/\/ent.news\/2022\/9\/AMAZON.EG-LAUNCHES-SPONSORED-ADS-AND-STORES-TO-SUPPORT-BUSINESSES-IN-EGYPT.pdf\">Statement, pdf<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/al-amal-auto\/\">Al Amal Auto<\/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\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/copelouzos\/\">Copelouzos<\/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\/greece\/\">Greece<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sumitomo\/\">Sumitomo<\/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=\"549414\" 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=\"549414\">\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\/15\/eni-wants-to-go-big-on-lng-and-thats-good-for-egypt\/\">\r\n                            Eni wants to go big on LNG, and that\u2019s good for 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\/15\/eni-wants-to-go-big-on-lng-and-thats-good-for-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(); 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Eni is planning to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2feeb570-3a21-41d9-bcd5-9189eaf03144\">work with Egypt<\/a> and others to boost its LNG export capacity but according to Descalzi Italy does not yet have enough terminals to receive extra volumes.<\/p><p><strong>Italy really needs the fuel:<\/strong> Italy is heavily reliant on Russian fossil fuels, last year sourcing almost three-quarters of its imported gas from Russia. Italy has begun importing more gas from Algeria and Norway in response to Gazprom curbing gas flows and is urgently looking for new supplies to fully transition away from Russian gas. This is going to take another 2-3 years, according to Descalzi, who said the company will be able to replace 100% of Russian gas by 2024-2025.<\/p><p><strong>The impact of the EU\u2019s embargo on Russian oil?<\/strong> Russian oil production will fall 17% \u2014 equal to around 1.9 mn barrels a day \u2014 compared to pre-war levels once the EU\u2019s embargo on Russian oil and petroleum products is fully in place in February, according to a report from the I<a href=\"https:\/\/www.iea.org\/reports\/oil-market-report-september-2022\">nternational Energy Agency<\/a>.<\/p><p><strong>CLOSER TO HOME- Dubai is thinking about bumping up the size of state-owned road <\/strong><strong>toll operator Salik\u2019s IPO<\/strong> after investors <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7549fc2e-2c08-491e-b0b6-c4817d5f0235\">covered all 1.5 bn shares<\/a> on the first day, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-09-14\/dubai-is-said-to-consider-raising-salik-ipo-size-on-high-demand?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> reports. The government could now offer 1.875 bn shares (equivalent to a 25% stake) to investors, people familiar with the matter told the business newswire.<\/p><p><strong>ALSO IN PLANET FINANCE-<\/strong><\/p><ul>\n<li><strong>South Korean watchdog slaps Google, Meta with mns in fines over privacy <\/strong><strong>violations: <\/strong>The tech giants were fined a combined KRW 100 bn (USD 72 mn) for unlawfully tracking users\u2019 online behavior to show them targeted ads<strong>. <\/strong>(<a href=\"https:\/\/www.reuters.com\/technology\/skorea-fines-google-meta-over-accusations-privacy-law-violations-yonhap-2022-09-14\/\">Reuters<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/business\/south-korea-fines-google-meta-over-privacy-violations\/2022\/09\/14\/627567dc-3402-11ed-a0d6-415299bfebd5_story.html\">AP<\/a>)<\/li>\n<li><strong>UK inflation unexpectedly fell for the first time in almost a year in August <\/strong>on the back of lower fuel prices. Economists polled by <a href=\"https:\/\/www.reuters.com\/world\/uk\/uk-consumer-price-inflation-falls-unexpectedly-2022-09-14\/\">Reuters<\/a> had expected a slight increase, but warned that the reprieve would likely be short-lived, with inflation set to peak at some 11% in October. (<a href=\"https:\/\/ent.news\/2022\/9\/Consumer-price-inflation-UK-August-2022-1.pdf\">ONS, pdf<\/a>)<\/li>\n<\/ul><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>10,194<\/p>\n<\/td>\n<td>\n<p>-2.0% (YTD: -14.7%)<\/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>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 19.33<\/p>\n<\/td>\n<td>\n<p>Sell 19.44<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 19.36<\/p>\n<\/td>\n<td>\n<p>Sell 19.42<\/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>11,893<\/p>\n<\/td>\n<td>\n<p>-1.6% (YTD: +5.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>A<\/strong><strong>D<\/strong><strong>X<\/strong><\/p>\n<\/td>\n<td>\n<p>9,969<\/p>\n<\/td>\n<td>\n<p>-0.2% (YTD: +17.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,431<\/p>\n<\/td>\n<td>\n<p>-0.8% (YTD: +7.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>3,946<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: -17.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,277<\/p>\n<\/td>\n<td>\n<p>-1.5% (YTD: -1.5%)<\/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>3,568<\/p>\n<\/td>\n<td>\n<p>-0.5% (YTD: -17.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 94.69<\/p>\n<\/td>\n<td>\n<p>+1.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 9.11<\/p>\n<\/td>\n<td>\n<p>+10.0%<\/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>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,709.10<\/p>\n<\/td>\n<td>\n<p>-0.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 20,223<\/p>\n<\/td>\n<td>\n<p>+0.4% (YTD: -56.8%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 fell 2.0% at yesterday\u2019s close<\/strong> on turnover of EGP 1.59 bn (41.3% above the 90-day average). Local investors were net buyers. The index is down 14.7% YTD.<\/p><p><strong>In the green: <\/strong>Rameda (+1.5%) and Eastern Company (+0.4%).<\/p><p><strong>In the red: <\/strong>Abu Qir Fertilizers (-6.1%), Fawry (-5.4%) and Heliopolis Housing (-4.2%).<\/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\/dubai\/\">Dubai<\/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\/eni\/\">Eni<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/google\/\">Google<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/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\/italy\/\">Italy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/meta\/\">meta<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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\/salik\/\">Salik<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/south-korea\/\">South Korea<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uk\/\">UK<\/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=\"549415\" 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=\"549415\">\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\/15\/us-weighs-sanctions-on-china-to-deter-taiwan-invasion\/\">\r\n                            US weighs sanctions on China to deter Taiwan invasion                        <\/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\/15\/us-weighs-sanctions-on-china-to-deter-taiwan-invasion\/\" 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\/15\/us-weighs-sanctions-on-china-to-deter-taiwan-invasion\/')\">\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\/15\/us-weighs-sanctions-on-china-to-deter-taiwan-invasion\/\">\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=US weighs sanctions on China to deter Taiwan invasion&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/15\/us-weighs-sanctions-on-china-to-deter-taiwan-invasion\/\">\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\/15\/us-weighs-sanctions-on-china-to-deter-taiwan-invasion\/&title=US weighs sanctions on China to deter Taiwan invasion\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=US+weighs+sanctions+on+China+to+deter+Taiwan+invasion+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F15%2Fus-weighs-sanctions-on-china-to-deter-taiwan-invasion%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\/15\/us-weighs-sanctions-on-china-to-deter-taiwan-invasion\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549415\" class=\"content-area-description single-story post-549415 post type-post status-publish format-standard hentry category-around-the-world tag-armenia tag-around-the-world tag-azerbaijan tag-china tag-enterpriseam tag-russia tag-taiwan tag-us tag-war wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The US is considering imposing sanctions on China as tensions escalate over <\/strong><strong>Taiwan<\/strong>, <a href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/exclusive-us-considers-china-sanctions-deter-taiwan-action-taiwan-presses-eu-2022-09-13\/\">Reuters<\/a> reports, citing sources close to the deliberations. It\u2019s not yet clear what form any sanctions could take, though some analysts suggested they could seek to limit the Chinese military\u2019s access to technology that could be used in an operation against Taiwan. Taipei is lobbying the EU to take similar action.<\/p>\n<p><strong>Sanctioning the world\u2019s second largest economy is no picnic:<\/strong> Imposing sanctions would be \u201ca far more complex exercise than sanctions on Russia, given US and allies' extensive entanglement with the Chinese economy,\u201d said one former senior official.<\/p>\n<p><strong>Armenia asks Russia for help amid border clashes with Azerbaijan: <\/strong>Armenia has appealed to Russia and allies to help it in deadly border clashes with Azerbaijani forces that have killed more than 100 of its troops, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-09-14\/azerbaijan-and-armenia-resume-fighting-as-us-france-urge-truce?srnd=premium-middle-east\">Bloomberg<\/a> reported. The country\u2019s PM Nikol Pashinyan invoked a defense treaty calling Moscow and others to send military assistance after two days of fighting. The ex-Soviet nations have exchanged blame for the fighting, which has escalated into the deadliest violence since the 44-day war in 2020.<\/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\/armenia\/\">Armenia<\/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\/azerbaijan\/\">Azerbaijan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/taiwan\/\">Taiwan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/war\/\">war<\/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=\"549416\" 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\/15\/549416\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549416\" class=\"content-area-description single-story post-549416 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 50 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>13-15 September (Tuesday-Thursday): Hurghada will <a href=\"https:\/\/www.icao.int\/MID\/Pages\/2022\/Airport%20Master%20Seminar.aspx\">host the Regional Seminar on Airport Master Planning<\/a> organized by ICAO.<\/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>15 September (Thursday): The first <a href=\"https:\/\/www.gecf.org\/events\/gecf-to-organise-coordination-meeting-drive-collective-solution-ahead-of-cop-27-\">Gas Exporting Countries Forum<\/a> Coordination Meeting in the Run-up to COP 27.<\/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>18 September (Sunday): Deadline to apply for investor funding under the Planning Ministry\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/76aee85d-c85b-4487-8b4e-98a1424e956f\">Smart Green Governorates<\/a> initiative.<\/p>\n<p>19-22 September (Monday-Thursday): EFG Hermes One on One Conference, Dubai.<\/p>\n<p>20-21 September (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>21 September (Wednesday): The <a href=\"https:\/\/ent.news\/2022\/9\/PRESS-RELEASE-Egyptian-Virtual-Food-ShowSept-21-date.pdf\">Egyptian Virtual Food Show (pdf)<\/a>.<\/p>\n<p>22 September (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>22 September (Thursday): Deadline to submit prequalification applications for companies interested in submitting a proposal for sea water desalination projects<\/p>\n<p>25-27 September (Sunday-Tuesday) A delegation of executives at Egyptian real estate companies visit Saudi Arabia to present developers with potential investments in Egypt\u2019s real estate sector.<\/p>\n<p>26\u201327 September (Monday-Tuesday): The <a href=\"https:\/\/www.awieforum.org\/\">Africa Women Innovation and Entrepreneurship Forum (AWIEF)<\/a> at the Cairo Marriott Hotel.<\/p>\n<p>27-29 September (Tuesday-Thursday): <a href=\"https:\/\/invest-renewables.africa\/\">Africa Renewables Investment Summit<\/a> (ARIS), Cape Town, South Africa.<\/p>\n<p>28-29 September (Wednesday-Thursday): The sixth edition of <a href=\"https:\/\/www.events.fintechrobos.com\/\">Arab Pensions and Social Ins. Conference<\/a> in Sharm El Sheikh.<\/p>\n<p><strong>OCTOBER<\/strong><\/p>\n<p>October: House of Representatives reconvenes after summer recess<\/p>\n<p>October: Air Sphinx, EgyptAir\u2019s low-cost subsidiary to <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=25062022&id=06c1fc4b-9551-4f6c-a782-70bdec4b30f0\">commence operations<\/a>.<\/p>\n<p>October: Fuel pricing committee meets to decide quarterly fuel prices.<\/p>\n<p>1 October (Saturday): Use of Nafeza <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/381373340699759\">becomes compulsory<\/a> for air freight.<\/p>\n<p>1 October (Saturday): Start of 2022-2023 public 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 October (Monday): The <a href=\"https:\/\/ceo-women.com\/\">CEO Women<\/a> Conference<\/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>17 October (Monday): Fifth Egypt and UN-led regional climate roundtable ahead of COP27, Geneva, Switzerland.<\/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>Late October: First Abu Dhabi Bank to <a href=\"https:\/\/bit.ly\/3eEUoeA\">complete<\/a> full integration with Bank Audi\u2019s Egyptian operations after <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7db0f456-9e63-420a-b309-a9a455fb3667\">merger<\/a>.<\/p>\n<p><strong>NOVEMBER<\/strong><\/p>\n<p>1-2 November (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>1-2 November (Tuesday-Wednesday): Arab League annual summit, Algiers, Algeria.<\/p>\n<p>3 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>3-5 November (Thursday-Saturday): Egypt Fashion Week.<\/p>\n<p>4-6 November (Friday-Sunday): <a href=\"https:\/\/www.autotechegypt.com\/en\/home.html\">Autotech<\/a> auto exhibition, Cairo International Exhibition and Convention Center.<\/p>\n<p>6-18 November (Sunday-Friday): Egypt will host <a href=\"https:\/\/cop27.eg\/\">COP27<\/a> in Sharm El Sheikh.<\/p>\n<p>7 November (Monday): The inauguration of the first line of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e2356273-f17c-4a5b-a987-663aab9a2e29\">high-speed rail<\/a>.<\/p>\n<p>7-13 November (Mon-Sun): The International University Sports Federation (FISU) <a href=\"https:\/\/www.worldsquash.org\/2022-fisu-world-university-championship-squash-to-take-place-in-egypt\/\">World University<\/a> Squash Championships, New Giza.<\/p>\n<p>21 November-18 December (Monday-Sunday): 2022 Fifa World Cup, Qatar.<\/p>\n<p><strong>DECEMBER<\/strong><\/p>\n<p>13-14 December (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>13-15 December (Tuesday-Thursday): US-Africa Leaders Summit.<\/p>\n<p>15 December (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>22 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>December: The Sixth of October dry port <a href=\"https:\/\/bit.ly\/3u3uB4u\">will begin operations<\/a>.<\/p>\n<p>December: Egypt to <a href=\"https:\/\/bit.ly\/3bVoWYy\">expand Sudan electricity link capacity<\/a> to 300 MW.<\/p>\n<p><strong>JANUARY 2023<\/strong><\/p>\n<p>January: EGX-listed companies and non-bank lenders will submit ESG reports for the first time.<\/p>\n<p>January: Fuel pricing committee meets to decide quarterly fuel prices.<\/p>\n<p>1 January (Sunday): Residential electricity bills are set to rise as per the government\u2019s <a href=\"https:\/\/ent.news\/2020\/6\/%D8%A7%D9%84%D9%85%D8%A4%D8%AA%D9%85%D8%B1-%D8%A7%D9%84%D8%B5%D8%AD%D9%81%D9%89-%D9%84%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A1-%D9%84%D9%84%D8%AE%D9%85%D8%B3-%D8%B3%D9%86%D9%88%D8%A7%D8%AA-%D8%A7%D9%84%D9%82%D8%A7%D8%AF%D9%85%D8%A9-9-6-2020-1.pdf\">six-year roadmap (pdf)<\/a> to restructure electricity prices by 2025.<\/p>\n<p>7 January (Saturday): Coptic Christmas.<\/p>\n<p>24 January-6 February: The 54th Cairo International Book Fair, Egypt International Exhibition Center<\/p>\n<p>25 January (Wednesday): 25 January revolution anniversary \/ Police Day.<\/p>\n<p>26 January (Thursday): National holiday in observance of 25 January revolution anniversary \/ Police Day.<\/p>\n<p><strong>FEBRUARY 2023<\/strong><\/p>\n<p>11 February (Saturday): Second semester of 2022-2023 academic year begins for public universities.<\/p>\n<p>13-15 February (Monday-Wednesday): The <a href=\"https:\/\/www.egyps.com\/\">Egypt Petroleum Show (Egyps)<\/a>, Egypt International Exhibition Center, Cairo.<\/p>\n<p><strong>MARCH 2023<\/strong><\/p>\n<p>March: 4Q2022 earnings season.<\/p>\n<p>23 March (Wednesday) \u2014 First day of Ramadan (TBC). Maghreb will be at 6:08pm CLT.<\/p>\n<p><strong>APRIL 2023<\/strong><\/p>\n<p>17 April (Monday): Sham El Nessim.<\/p>\n<p>22 April (Saturday): Eid El Fitr (TBC).<\/p>\n<p>25 April (Tuesday): Sinai Liberation Day.<\/p>\n<p>27 April (Thursday): National holiday in observance of Sinai Liberation Day (TBC).<\/p>\n<p>Late April \u2013 15 May: 1Q2023 earnings season.<\/p>\n<p><strong>MAY 2023<\/strong><\/p>\n<p>1 May (Monday): Labor Day.<\/p>\n<p>4 May (Thursday) National holiday in observance of Labor Day (TBC).<\/p>\n<p>22-26 May (Monday-Friday): Egypt <a href=\"https:\/\/www.afdb.org\/en\/news-and-events\/press-releases\/african-development-bank-group-concludes-annual-meetings-governors-endorse-banks-vision-next-10-years-51974#:~:text=The%20new%20Board%20of%20Governors,from%2022%2D26%20May%202023.\">will host<\/a> the African Development Bank (AfDB) annual meetings in Sharm El Sheikh.<\/p>\n<p><strong>JUNE 2023<\/strong><\/p>\n<p>19-21 June (Monday-Wednesday) Egypt Infrastructure and Water Expo <a href=\"https:\/\/ent.news\/2022\/9\/Announcement__EGYPT_INFRASTRUCTURE_AND_WATER_EXPO_LAUNCHES_JUNE_2023.pdf\">debuts<\/a> at the Egypt International Exhibition Center.<\/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":549393,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-549392","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"abd9a38b-5b4d-4edc-b783-3f089398bfe5","teaser":"","photo_url":"https:\/\/ent.news\/2022\/9\/23.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>Expedition Investments consortium acquires 33% of Domty - 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\/expedition-investments-consortium-acquires-33-of-domty\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Expedition Investments consortium acquires 33% of Domty\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/expedition-investments-consortium-acquires-33-of-domty\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T22:37:14+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\/23.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\/expedition-investments-consortium-acquires-33-of-domty\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/expedition-investments-consortium-acquires-33-of-domty\/\",\"name\":\"Expedition Investments consortium acquires 33% of Domty - 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