{"id":549468,"date":"2022-09-19T04:00:33","date_gmt":"2022-09-19T04:00:33","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=549468"},"modified":"2025-12-15T22:39:08","modified_gmt":"2025-12-15T22:39:08","slug":"up-to-6-private-companies-in-ipo-talks-with-the-egx-says-el-dokany","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/up-to-6-private-companies-in-ipo-talks-with-the-egx-says-el-dokany\/","title":{"rendered":"Up to 6 private companies in IPO talks with the EGX, says El Dokany"},"content":{"rendered":"<section id=\"549470\" 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=\"549470\">\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\/19\/this-morning-first-in-person-efg-hermes-one-on-one-since-2019-kicks-off\/\">\r\n                            THIS MORNING: First in-person EFG Hermes One on One since 2019 kicks off                        <\/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\/19\/this-morning-first-in-person-efg-hermes-one-on-one-since-2019-kicks-off\/\" 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\/19\/this-morning-first-in-person-efg-hermes-one-on-one-since-2019-kicks-off\/')\">\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\/19\/this-morning-first-in-person-efg-hermes-one-on-one-since-2019-kicks-off\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=THIS MORNING: First in-person EFG Hermes One on One since 2019 kicks off&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/19\/this-morning-first-in-person-efg-hermes-one-on-one-since-2019-kicks-off\/\">\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\/19\/this-morning-first-in-person-efg-hermes-one-on-one-since-2019-kicks-off\/&title=THIS MORNING: First in-person EFG Hermes One on One since 2019 kicks off\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=THIS+MORNING%3A+First+in-person+EFG+Hermes+One+on+One+since+2019+kicks+off+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F19%2Fthis-morning-first-in-person-efg-hermes-one-on-one-since-2019-kicks-off%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\/19\/this-morning-first-in-person-efg-hermes-one-on-one-since-2019-kicks-off\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549470\" class=\"content-area-description single-story post-549470 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-al-baraka-bank tag-capiter tag-enterpriseam tag-first-investment-development-company tag-ma-watch tag-moustafa-madbouly tag-osama-rabie tag-queen-elizabeth-ii tag-startups tag-suez-canal tag-suez-canal-authority tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Good morning from Atlantis The Palm, our home for the week as we settle in for the <\/strong><strong>first <\/strong><strong>EFG Hermes One on One to take place in person since 2019<\/strong> (Thank you, covid-19). We\u2019re expecting some 205 corporates from 33 countries to show up over the course of the week for face-to-face meetings with 655 institutional investors from 270 different institutions \u2014 making the One on One the world\u2019s premier frontier and emerging markets investor conference.<\/p>\n<p><strong>Corporates here cover every industry in F\/EM you could imagine<\/strong>, including energy (huge, with COP27 slated for Sharm El Sheikh later this fall and COP28 next year in the UAE), consumer-driven sectors, banking, finance, healthcare, industrials, tech, telecommunications, utilities, real estate and more.<\/p>\n<p><strong>\u201cWe\u2019re excited to finally bring back the physical iteration of the One-on-One for the first <\/strong><strong>time since the onset of covid-19<\/strong> under the patronage of H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum,\u201d our friend Karim Awad says this morning in a <a href=\"https:\/\/ent.news\/2022\/9\/EFG-Hermes-16th-Annual-One-on-One-Investor-Conference-Dubai-2022-English.pdf\">statement (pdf)<\/a>. Karim, group CEO of EFG Hermes Holding, says that the firm\u2019s role in serving as a conduit for investment is more important than ever as businesses and investors grapple with the aftermath of covid, ongoing supply chain snarls, and sharp inflationary pressure.<\/p>\n<p><strong>WHAT YOU CAN EXPECT TODAY- Tons of one-on-one meetings <\/strong>as well as group sit-downs with in-demand companies.<\/p>\n<p><strong>On the stage this morning: Helal Saeed Almarri, who wears many hats in Dubai <\/strong><strong>including that of director general of the Department of Economy and Tourism. <\/strong>Almarri is also a member of the Executive Council of Dubai and chairman of the Dubai Financial Market, among other posts he holds. He\u2019ll be interviewed on stage at 11:50am Dubai time by our friend Simon Kitchen, head of strategy at EFG Hermes Research.<\/p>\n<p><strong>ALSO THIS MORNING- Attendees will be asked to vote in the Consensus for 2023<\/strong>, the largest (and only live) F\/EM research poll. We\u2019ll have the results for you in tomorrow morning\u2019s EnterpriseAM.<\/p>\n<hr class=\"grey-line\">\n<p><a id=\"tldr-story-04\" class=\"content-anchor\"><\/a> <strong>WATCH THIS SPACE- Is a <\/strong><strong>Capiter bailout in the cards?<\/strong> US-based <a href=\"https:\/\/quona.com\/\">Quona Capital<\/a> wants to acquire 70-80% of crisis-stricken B2B e-commerce startup Capiter in efforts to reform and restructure the company, <a href=\"https:\/\/bit.ly\/3xwl6wu\">Al Mal<\/a> reported yesterday, citing informed sources. Quona is a key investor in Capiter, having co-led its<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e159f8b4-f7ca-4e2a-bad4-b9c90de5eaf2\">USD 33 mn series A round<\/a> with MSA Capital last year. Representatives of Capiter did not respond to requests for comment when we reached out yesterday.<\/p>\n<p><strong>Capiter was the talk of the town this past week <\/strong>after <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/899989a6-5cfd-4d45-8b01-8a0bdeb5cbb1\">social media exploded<\/a> with allegations of financial impropriety (including embezzlement) at the company after the board fired the company\u2019s co-founders. Internal and external investigations are ongoing, while the news has sparked a wider conversation on what lies in store for the local startup scene as VC funding dries up on the back of rising borrowing costs and fears of a global slowdown.<\/p>\n<p><strong>PSA- Your commute around New Cairo may take a little longer for a few months:<\/strong> Authorities have shut several roads in New Cairo for two months due to the construction of the monorail, according to state news agency <a href=\"https:\/\/www.mena.org.eg\/en\/news\/dbcall\/table\/textnews\/id\/9778464\">MENA<\/a>. Baqi Zaki tunnel on southern Road 90, the Al Mushir ramp on Road 90 heading towards Maadi, and the entrance to the southern Road 90 coming from Maadi via the Ring Road are all affected.<\/p>\n<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<\/p><\/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    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>HAPPENING TODAY-<\/strong><\/p>\n<p><strong>Prime Minister Moustafa Madbouly <\/strong><strong><a href=\"https:\/\/bit.ly\/3ScjIXY\">is in the UK<\/a><\/strong><strong> to attend the funeral of Queen <\/strong><strong>Elizabeth II <\/strong>on behalf of President Abdel Fattah El Sisi. The prime minister <a href=\"https:\/\/bit.ly\/3f390EZ\">attended a reception<\/a> hosted by King Charles III and Queen Consort Camilla for world leaders at Buckingham Palace on the eve of the funeral yesterday.<\/p>\n<p><strong>The funeral is one of the big stories in the foreign press this morning:<\/strong> <a href=\"https:\/\/www.reuters.com\/world\/uk\/britain-world-prepare-say-last-farewell-queen-elizabeth-2022-09-18\/\">Reuters<\/a> | <a href=\"https:\/\/apnews.com\/article\/queen-elizabeth-ii-biden-king-charles-iii-entertainment-60db7257eda5dbf150d79e8be4f0f778?utm_source=homepage&utm_medium=TopNews&utm_campaign=position_2\">AP<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/world\/2022\/09\/18\/queen-elizabeth-ii-live-updates\/\">Washington Post<\/a> | <a href=\"https:\/\/www.ft.com\/content\/74996967-a59f-40ae-9068-bae1b0f3294b\">FT<\/a> | <a href=\"https:\/\/www.bbc.com\/news\/uk-62945453\">BBC<\/a> | <a href=\"https:\/\/www.theguardian.com\/uk-news\/2022\/sep\/18\/world-leaders-arrive-pay-respects-queen-nation-waits-funeral\">The Guardian<\/a>.<\/p>\n<p><strong>Shoukry in New York for UN General Assembly session:<\/strong> Foreign Minister Sameh Shoukry <a href=\"https:\/\/bit.ly\/3QMEXyd\">is<\/a><a href=\"https:\/\/bit.ly\/3QMEXyd\">in New York<\/a> to participate in the high-level meetings ahead of the UN General Assembly session. The general debate for the 2022 session will take place from Tuesday, 20 September to Monday, 26 September.<\/p>\n<p><strong>Indian Defense Minister Rajnath Singh <\/strong><strong><a href=\"https:\/\/bit.ly\/3xxlnPU\">is in Cairo<\/a><\/strong><strong> for a three-day visit<\/strong> focused on bolstering defense ties.<\/p>\n<p><strong>HAPPENING THIS WEEK-<\/strong><\/p>\n<p><strong>The Central Bank of Egypt will meet to discuss interest rates on Thursday<\/strong>, and the signs are pointing towards a third hike of 2022. Six of seven analysts and economists <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/298ef0bf-e4ce-4276-a53a-4061d2e7023f\">surveyed in our regular poll<\/a> expect the Monetary Policy Committee to raise rates as inflation rises and the EGP continues to weaken.<\/p>\n<p><strong>Make that seven of eight:<\/strong> HC Securities sees the central bank raising rates by 100 bps on Thursday and another 100 bps in the November meeting due to Egypt\u2019s deteriorating external position and expectations for inflation to accelerate in the coming months.<\/p>\n<p><strong>Intellectual property strategy coming this week:<\/strong> Egypt will <a href=\"https:\/\/bit.ly\/3qBM6XB\">launch its intellectual property<\/a><a href=\"https:\/\/bit.ly\/3qBM6XB\">strategy<\/a> on Wednesday. World Intellectual Property Organization (WIPO) Director-General Daren Tang will make an appearance at a ceremony being put on to launch the program.<\/p>\n<p><strong>FURTHER AFIELD-<\/strong><\/p>\n<p><strong>HSBC is hosting an energy transition webinar series next Tuesday-Thursday, 27-29 <\/strong><strong>September.<\/strong> The series will look at the \u201clatest climate analysis in relation to the global energy market and transition to net zero\u201d in six different sessions covering energy security, what is required to ensure the success of COP27, financing and investment needs for the energy transition, and the scaling up of renewables in the region, among other topics. You can <a href=\"https:\/\/www.hsbcscheduling.com\/eventweb.php?pid=PDFjNDU8MGUxPzFsMTU&src=enterpriseam\">register for the series here<\/a>.<\/p>\n<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<hr class=\"grey-line\">\n<p><strong>FACT CHECK- Al Baraka Bank denies plans to take over First Investment <\/strong><strong>Development Company: <\/strong>The bank said reports that <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/82225d2b-b8ae-4b2a-94fb-f2ad9f777646\">we picked up<\/a> from local media yesterday of plans to acquire 100% of the company were \u201ccompletely untrue\u201d in a <a href=\"https:\/\/ent.news\/2022\/9\/%D8%A7%D9%84%D8%A8%D8%B1%D9%83%D8%A9-%D8%A8%D9%8A%D8%A7%D9%86-18-09-2022.pdf\">statement (pdf)<\/a> sent to the bourse. First Investment Development Company also refuted the news in a separate <a href=\"https:\/\/ent.news\/2022\/9\/%D8%A7%D9%84%D8%A7%D9%88%D9%84%D9%89-%D8%A8%D9%8A%D8%A7%D9%86-18-09-2022.pdf\">statement (pdf)<\/a>, saying it is not in any official talks over a sale.<\/p>\n<p><strong>DATA POINT- The Suez Canal Authority (SCA) expects an additional USD 70<\/strong><strong>0 mn<\/strong> <strong>in annual revenues <\/strong>thanks to the 15% hike in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d7a4a36e-9b5f-4a44-8185-67a3f5ca1389\">transit fees<\/a> for most vessels crossing the canal starting January 2023, SCA Chairman Osama Rabie told <a href=\"https:\/\/bit.ly\/3eYRT70\">CNBC Arabia<\/a>.<\/p>\n<p><strong>People will be able to pay government dues of<\/strong><strong> EGP 4k and above <\/strong>at some 4k post office branches and 38 banks, after the cabinet reduced the existing <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/929937e3-48cf-4b35-a353-bfdacfd80b6a\">EGP 10k<\/a> minimum, according to a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0SCo2vqSx92Vt1Qj91HJBzvoCuyPT3kz4MHAvq6udkzJixfdfD7feAtRVUkypfX9dl\">statement<\/a>.<\/p>\n<p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/CIRA-Blackboard-Banner-B.jpg?ssl=1\" alt=\"enterprise\"><\/p>\n<p><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. Blackboard appears every Monday in Enterprise in the place of our traditional industry news roundups.<\/p>\n<p><strong>In today\u2019s issue:<\/strong> Corporates and organizations providing scholarships to Egyptian students pursuing undergraduate and graduate degrees locally or abroad typically require students to work here in Egypt for at least two years after graduation. We look at how these organizations implement the requirement, and whether students actually abide by this stipulation.<\/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\/al-baraka-bank\/\">Al Baraka Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/first-investment-development-company\/\">First Investment Development Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moustafa-madbouly\/\">Moustafa Madbouly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/osama-rabie\/\">Osama Rabie<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/queen-elizabeth-ii\/\">Queen Elizabeth II<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal\/\">Suez Canal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-authority\/\">Suez Canal Authority<\/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=\"549471\" 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=\"549471\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/19\/549471\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549471\" class=\"content-area-description single-story post-549471 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=\"549472\" 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=\"549472\">\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\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/19\/up-to-6-private-companies-in-ipo-talks-with-the-egx-says-el-dokany\/\">\r\n                            Up to 6 private companies in IPO talks with the EGX, says El Dokany                        <\/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\/19\/up-to-6-private-companies-in-ipo-talks-with-the-egx-says-el-dokany\/\" 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\/19\/up-to-6-private-companies-in-ipo-talks-with-the-egx-says-el-dokany\/')\">\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\/19\/up-to-6-private-companies-in-ipo-talks-with-the-egx-says-el-dokany\/\">\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=Up to 6 private companies in IPO talks with the EGX, says El Dokany&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/19\/up-to-6-private-companies-in-ipo-talks-with-the-egx-says-el-dokany\/\">\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\/19\/up-to-6-private-companies-in-ipo-talks-with-the-egx-says-el-dokany\/&title=Up to 6 private companies in IPO talks with the EGX, says El Dokany\">\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=Up+to+6+private+companies+in+IPO+talks+with+the+EGX%2C+says+El+Dokany+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F19%2Fup-to-6-private-companies-in-ipo-talks-with-the-egx-says-el-dokany%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\/19\/up-to-6-private-companies-in-ipo-talks-with-the-egx-says-el-dokany\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/265.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"549473\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/19\/up-to-6-private-companies-in-ipo-talks-with-the-egx-says-el-dokany\/265-jpg-28\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/265.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"265.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/265.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/265.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549472\" class=\"content-area-description single-story post-549472 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-egx tag-enterpriseam tag-financial-regulatory-authority tag-ipo-watch tag-osama-rabie tag-ramy-el-dokany tag-suez-canal tag-suez-canal-authority wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-01\" class=\"content-anchor\"><\/a> <strong>The EGX is in \u201cserious talks\u201d with five or six private sector companies to list on <\/strong><strong>the bourse<\/strong>, new EGX boss Ramy El Dokany told <a href=\"https:\/\/www.asharqbusiness.com\/article\/41826\">Bloomberg Asharq<\/a>. He said the negotiations are at an \u201cadvanced stage\u201d and came on the back of the bourse\u2019s moves to simplify listing procedures.<\/p>\n<p><strong>REMEMBER-<\/strong> Companies now have longer to meet the EGX\u2019s listing requirements and are able to temporarily list shares before getting approval from the Financial Regulatory Authority under <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/781f8a28-a5ae-4f4f-b1e2-a24e80ce512a\">changes introduced last week<\/a> to boost liquidity on the bourse.<\/p>\n<p><strong>What kind of companies can we expect?<\/strong> El Dokany said that petrochemical, energy, fuel, and fertilizer companies are best suited to IPO amid the current turmoil in the global economy.<\/p>\n<p><strong>Liquidity is key for foreign money:<\/strong> \u201cTo be able to attract foreign investments, we have to first bolster the confidence of the local investor and raise liquidity in the market \u2026 this will increase listing and IPOs in the bourse,\u201d he said.<\/p>\n<p><strong>But so is a stable global economic environment:<\/strong> Trading volumes have been anemic for most of this year after foreign investors pulled back from Egypt and other emerging markets on the back of the war in Ukraine. The benchmark EGX30 index has fallen more than 18% this year, leading to the postponement of at least two IPOs and forcing the government to rethink its privatization plans, which at the beginning of the year envisaged <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/341bd556-a758-49d4-9aa9-1852ae8a3d9f\">as many as 10 state-owned companies<\/a> selling shares on the bourse.<\/p>\n<p><strong>The bourse is turning to state-owned institutions:<\/strong> The EGX has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ccbd1317-0c5a-4ebc-b7ac-8f2b6f0040c2\">held talks<\/a> with a number of state-owned institutions about increasing their investments in listed-companies. Egypt Post, Misr Ins. Holding and other ins. companies have all been involved in meetings, which come as the bourse tries to find ways of boosting trading volumes.<\/p>\n<p><strong>The government is now trying to reboot its privatization program<\/strong> with the listing changes and a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eaa81cae-e4e2-4c66-963d-b806c4ed812b\">new pre-IPO fund<\/a> set up by the Sovereign Fund of Egypt (SFE) earlier this month. The fund will offer stakes in state-owned companies to strategic investors and sovereign funds ahead of listing them on the bourse, and is expected to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7478e480-df5b-4599-a9d6-45e9788ab1ee\">announce the first batch of companies<\/a> within the next month.<\/p>\n<p><strong>SUEZ IPO COMING END OF 2022?<\/strong><\/p>\n<p><strong>The Suez Canal Authority (SCA) will IPO the <\/strong><strong><a href=\"https:\/\/www.cml-egypt.com\/index.html\">Canal Mooring & Lights Company<\/a><\/strong> on the EGX at the end of 2022, SCA Chairman Osama Rabie told <a href=\"https:\/\/bit.ly\/3eYRT70\">CNBC Arabia<\/a> yesterday. The authority plans to offer 10-15% of the company to investors, he said, without providing further details. Rabie <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4f59d75d-cfa3-496b-92c6-ca5ce8fbc37a\">said in August<\/a> that the authority was planning to list three of its companies on the bourse before the end of the year.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/osama-rabie\/\">Osama Rabie<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ramy-el-dokany\/\">Ramy El Dokany<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal\/\">Suez Canal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-authority\/\">Suez Canal Authority<\/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=\"549474\" 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=\"549474\">\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\">EGX<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/19\/the-egx-sell-off-continues\/\">\r\n                            The EGX sell-off continues                        <\/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\/19\/the-egx-sell-off-continues\/\" 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\/19\/the-egx-sell-off-continues\/')\">\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\/19\/the-egx-sell-off-continues\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The EGX sell-off continues&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/19\/the-egx-sell-off-continues\/\">\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\/19\/the-egx-sell-off-continues\/&title=The EGX sell-off continues\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+EGX+sell-off+continues+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F19%2Fthe-egx-sell-off-continues%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\/19\/the-egx-sell-off-continues\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/266.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"549475\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/19\/the-egx-sell-off-continues\/266-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/266.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"266.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/266.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/266.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549474\" class=\"content-area-description single-story post-549474 post type-post status-publish format-standard has-post-thumbnail hentry category-egx tag-economy tag-egx tag-enterpriseam tag-equities tag-fawry tag-financial-markets wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>EGX WATCH<\/strong><strong>: Egyptian shares suffered their biggest single-day loss since early <\/strong><strong>July yesterday<\/strong> amid growing investor concerns about global growth. The benchmark index fell 3.1% during trading yesterday to reach its lowest level in seven weeks, leaving it down more than 18% year-to-date. The broader EGX70 index was harder hit, losing 6.8%.<\/p>\n<p><strong>Leading the declines:<\/strong> The sell-off was broad-based, with only five of the 30 companies in the EGX30 finishing in the green. Fawry shares were hardest hit, ending the day 9.1% in the red and leaving them down more than 48% since the start of the year. GB Auto (-8.7%) and Heliopolis Housing (-8.4%) also suffered heavy losses.<\/p>\n<p><strong>Reversing the rally:<\/strong> The EGX30 has now fallen 6.4% across a four-day losing streak, paring much of the gains seen in recent weeks. The index has staged a modest recovery over the past 2.5 months after hitting its lowest level since November 2016 in early July.<\/p>\n<p><strong>It wasn\u2019t just us:<\/strong> Gulf stocks also fell yesterday as investors priced in the impact of a global recession on oil prices, which earlier this month dropped to the lowest levels since the start of the war in Ukraine. Saudi Arabia\u2019s benchmark index fell 2.2% and shares in Qatar ended the day down 1.2%.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/equities\/\">equities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fawry\/\">Fawry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549476\" 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=\"549476\">\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\">COUNTDOWN TO COP<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/19\/part-1-of-our-exclusive-sitdown-with-mahmoud-mohieldin-the-un-climate-change-high-level-champion-for-egypt\/\">\r\n                            Part 1 of our exclusive sitdown with Mahmoud Mohieldin, the UN Climate Change High-Level Champion 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\/19\/part-1-of-our-exclusive-sitdown-with-mahmoud-mohieldin-the-un-climate-change-high-level-champion-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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The dust has yet to settle on everything from who bears responsibility, to who foots the bill for financing, to the debate about adaptation vs mitigation.<\/p>\n<p><strong>Perhaps there is no one better to help us get a sense of all of this than Egypt\u2019s UN high-level climate champion, Mahmoud Mohieldin<\/strong>, whose work on these issues predates the Paris agreement, and will continue to drive the agenda for global climate action in the coming years. Prior to his selection as Egypt\u2019s climate czar, Mohieldin \u2014 who is also a special envoy for the UN secretary-general and an executive director at the IMF \u2014 had been the World Bank\u2019s senior vice president for the 2030 Development Agenda, where he helped shape the 17 sustainable development goals \u2014 the global metric for development.<\/p>\n<p><strong>In Part 1 of our two-part interview, Mohieldin explains the fundamental challenges when it comes to the climate crisis<\/strong>, and provides a sobering reality check on just how far off the mark we are.<\/p>\n<p><strong>KEY TAKEAWAYS-<\/strong><\/p>\n<ul>\n<li><strong>Emerging economies bear no real responsibility for climate change<\/strong>, but are the most impacted by it;<\/li>\n<li><strong>Developed economies are falling far short of the USD 100 bn per year <\/strong>they\u2019ve collectively pledged to help developing nations mitigate and adapt. The real gap, he says is in the USD tns, not USD bns;<\/li>\n<li><strong>Reducing the climate change debate to \u201cmitigation\u201d suits the interests of developed economies<\/strong>;<\/li>\n<li><strong>Mohieldin took the job as UN high-level climate champion because it meshes two of his passions: <\/strong>Crisis management and sustainable development.<\/li>\n<\/ul>\n<p><strong>ENTERPRISE: Let\u2019s go back to the beginning. How did you wind up in this role? <\/strong><\/p>\n<p><strong>MAHMOUD MOHIELDIN: <\/strong>This goes back to a process that started in Marrakesh a year after the Paris Agreement. Marrakesh is where the international community really recognized the importance of non-state actors \u2014 any entity or agency that is not part of the formal negotiation track. That includes the business community, civil society organizations, academic institutions, local and regional governing bodies, et cetera. So it\u2019s a very broad tent of participants.<\/p>\n<p>Within that, my focus is very much on the implementation side, on turning into reality everything the state actors agree on. I\u2019m the seventh to hold this post, and there are two champions at a time. So I\u2019m doing this work with the champion from COP26, Mr. Nigel Topping, and next year I should be doing this job with the climate champion selected by the UAE.<\/p>\n<p><strong>ENTERPRISE: Why was it the right challenge for you? Why was it appealing to you personally? <\/strong><\/p>\n<p><strong>MM: Because it\u2019s about a crisis and about development. It\u2019s as simple as that. <\/strong><\/p>\n<p><strong>I\u2019ve been tackling crises and challenges throughout my professional life. <\/strong>Some of an economic nature, with challenges of development \u2014 challenges that were financial, economic and social \u2014 and now, climate.<\/p>\n<p><strong>And climate is the ultimate crisis<\/strong>. We do come across occasional short-term or midterm-crises \u2014 a financial crisis, a debt crisis, or even a pandemic \u2014 but the climate crisis is long-term. It is very deeply rooted in history, going back to the Industrial Revolution. And the stakes are so very high.<\/p>\n<p>It also relates to my years at the World Bank, where <strong>I worked on the <\/strong><strong><a href=\"https:\/\/sdgs.un.org\/goals\">17 sustainable development goals<\/a><\/strong><strong> (SDGs)<\/strong>. <strong>My focus has always been on implementation, on finance<\/strong>, on monitoring data systems and helping the work at the country level and globally. When I was offered the chance to do this work, I said, \u201cThis is a great chance to get into this area that had its own dynamics, but was very much integrated in the sustainable development framework that I had been working on.\u201d<\/p>\n<p><strong>And it has many links with other problems.<\/strong> So while climate change is causing more poverty, more vulnerability, loss of economic potential, and negatively impacting social development \u2026 <strong>the solutions to the climate agenda are about investment<\/strong>, which I have been doing and implementing for many years.<\/p>\n<p><strong>Solutions to climate challenges are not just about massive investment in mitigation, in renewable energy<\/strong>, in tackling the impact of the crisis through adaptation. It requires more investment in human capital and resilience at large. Others take a much more narrow or \u201creductionist\u201d approach to climate challenges.<\/p>\n<p><strong>ENTERPRISE: What do you mean by reductionist?<\/strong><\/p>\n<p><strong>MM: Sustainability means handling different aspects of economic and social problems<\/strong>, including the political economy dynamics. This is the beauty of the structure of SDGs. You need to end poverty and you need to improve equity or equality in society. That will only happen through investment in health, education, infrastructure, digital infrastructure and resilience (including climate and biodiversity). If you take it this way, <strong>it\u2019s about an inclusive and balanced approach to the challenges facing people and our planet<\/strong>.<\/p>\n<p><strong>A reductionist approach is telling you something completely different. It comes from a group of countries that have already benefited from their social and economic development. <\/strong>They have higher education levels, they have satisfactory health services, their economic progress and development brought them high living standards. These countries have hit the critical minimum of economic, social and human development. <strong>So, what\u2019s left for them but the climate crisis?<\/strong><\/p>\n<p><strong>That reductionist approach, reduces the whole discussion about sustainability to mean decarbonization and emissions <\/strong>and taking as well measures like carbon pricing as a guiding star for their activities. This fits nicely with their own priorities for economic development going forward.<\/p>\n<p><strong>ENTERPRISE: Who are these countries?<\/strong><\/p>\n<p><strong>MM: Let\u2019s just say the very advanced members of the OECD \u2014 the club of rich countries. <\/strong><\/p>\n<p><strong>ENTERPRISE: So what\u2019s a holistic approach, then?<\/strong><strong>MM: Let\u2019s start with Africa, Latin America or parts of East Asia. They haven\u2019t really contributed to the mess we\u2019re in, but they\u2019re most exposed to the shocks.<\/strong> All of Africa is responsible for maybe 3-4% of global emissions, but water management systems are being compromised. Climate change has a severe impact on coastal areas. They\u2019re exposed to severe weather. So when we talk about climate in developing economies, we need to do it in a comprehensive program. It needs to address a \u2018typical\u2019 African country that may suffer more from poverty, inequality, from the quality of education, and from inadequate health services and infrastructure.<\/p>\n<p><em><a href=\"http:\/\/climate.enterprise.press\/stories\/2022\/09\/19\/part-1-of-our-exclusive-sitdown-with-mahmoud-mohieldin-the-un-climate-change-high-level-champion-for-egypt-81445\/\">Tap or click here to catch the rest of the interview in this morning\u2019s Enterprise Climate<\/a><\/em><em><a href=\"http:\/\/climate.enterprise.press\/stories\/2022\/09\/19\/part-1-of-our-exclusive-sitdown-with-mahmoud-mohieldin-the-un-climate-change-high-level-champion-for-egypt-81445\/\">here<\/a><\/em><em><a href=\"http:\/\/climate.enterprise.press\/stories\/2022\/09\/19\/part-1-of-our-exclusive-sitdown-with-mahmoud-mohieldin-the-un-climate-change-high-level-champion-for-egypt-81445\/\">.<\/a><\/em><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate-change\/\">climate change<\/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\/countdown-to-cop\/\">COUNTDOWN TO COP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mahmoud-mohieldin\/\">Mahmoud Mohieldin<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sustainability\/\">sustainability<\/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=\"549478\" 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=\"549478\">\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\">Fintech<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/19\/global-ventures-fintech-fund-reaches-usd-105-mn-second-close\/\">\r\n                            Global Ventures\u2019 fintech fund reaches USD 105 mn second close                        <\/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\/19\/global-ventures-fintech-fund-reaches-usd-105-mn-second-close\/\" 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\/19\/global-ventures-fintech-fund-reaches-usd-105-mn-second-close\/')\">\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\/19\/global-ventures-fintech-fund-reaches-usd-105-mn-second-close\/\">\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=Global Ventures\u2019 fintech fund reaches USD 105 mn second close&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/19\/global-ventures-fintech-fund-reaches-usd-105-mn-second-close\/\">\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\/19\/global-ventures-fintech-fund-reaches-usd-105-mn-second-close\/&title=Global Ventures\u2019 fintech fund reaches USD 105 mn second close\">\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=Global+Ventures%E2%80%99+fintech+fund+reaches+USD+105+mn+second+close+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F19%2Fglobal-ventures-fintech-fund-reaches-usd-105-mn-second-close%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\/19\/global-ventures-fintech-fund-reaches-usd-105-mn-second-close\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/268.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"549479\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/19\/global-ventures-fintech-fund-reaches-usd-105-mn-second-close\/268-jpg-62\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/268.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"268.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/268.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/268.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549478\" class=\"content-area-description single-story post-549478 post type-post status-publish format-standard has-post-thumbnail hentry category-fintech tag-enterpriseam tag-fintech tag-global-ventures tag-nclude tag-startup-watch tag-startups tag-venture-capital wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Nclude<\/strong><strong> hits USD 105 mn second close: <\/strong>Local and international investors have committed around USD 20 mn to Global Ventures\u2019 Nclude\u2019s second funding round, bringing the fintech-focused VC fund\u2019s total capital to some USD 105 mn, a source close to the matter told Enterprise. The source declined to name the contributing investors at this time.<\/p>\n<p><strong>About Nclude: <\/strong>Dubai-based Global Ventures partnered with state-owned banks and firms to reach a<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/51710abc-abe2-41fc-a5bf-465d12117001\">first close of USD 85 mn<\/a> on the Nclude fund in March. Banque Misr is acting as an anchor investor, while NBE and Banque du Caire are on board as strategic investors, and e-Finance\u2019s parent company e-Finance Investment Group also paid in to the initial raise. Nclude targets early- and growth-stage fintech startups based in Egypt, as well as regional firms looking to expand here. It has already invested in local startups including <a href=\"https:\/\/khazna.app\/\">Khazna<\/a>, <a href=\"https:\/\/paymob.com\/en\">Paymob<\/a>, <a href=\"https:\/\/thelucky.app\/\">Lucky<\/a>, and <a href=\"https:\/\/www.mozare3.net\/\">Mozare3<\/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\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/global-ventures\/\">Global Ventures<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nclude\/\">Nclude<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/venture-capital\/\">venture capital<\/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=\"549480\" 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=\"549480\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">A MESSAGE FROM HSBC<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/19\/enabling-energy-transition-in-the-middle-east\/\">\r\n                            Enabling energy transition in the Middle East                        <\/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\/19\/enabling-energy-transition-in-the-middle-east\/\" 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\/19\/enabling-energy-transition-in-the-middle-east\/')\">\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\/19\/enabling-energy-transition-in-the-middle-east\/\">\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=Enabling energy transition in the Middle East&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/19\/enabling-energy-transition-in-the-middle-east\/\">\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\/19\/enabling-energy-transition-in-the-middle-east\/&title=Enabling energy transition in the Middle East\">\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=Enabling+energy+transition+in+the+Middle+East+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F19%2Fenabling-energy-transition-in-the-middle-east%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\/19\/enabling-energy-transition-in-the-middle-east\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549480\" class=\"content-area-description single-story post-549480 post type-post status-publish format-standard hentry category-a-message-from-hsbc tag-a-message-from-hsbc tag-climate-change tag-enterpriseam tag-hsbc tag-zoe-knight wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>By Zoe Knight<\/p>\n<p>The arrival of COP27 and COP28 to the Middle East makes our region the focus of international efforts to implement energy transition as part of the shift to a net zero carbon global economy.<\/p>\n<p>The example the Middle East sets will be a guiding light for others, because if the world\u2019s most important region for traditional energy production can get the transition right, it means everyone can.<\/p>\n<p>Access to capital on a global scale is critical, both to fund emerging green energy solutions, and to ensure that existing energy and industrial giants have the support needed to transition their own businesses to net zero.<\/p>\n<p>Saudi Arabia plans to scale up the share of gas and renewables in its energy mix to 50% each by 2030. The UAE has pledged to improve energy efficiency by 40%, reduce emissions from the energy sector by 70%, and increase the share of renewables in the energy mix to 44%. And Egypt aims to make 42% of the country\u2019s energy mix renewable by 2035 while cutting energy subsidies.<\/p>\n<p>The good news is that investment in renewables across the region is gathering pace. The Benban solar power plant in Egypt \u2014 the largest in Africa and fourth-largest in the world \u2014 is an example of how we\u2019ve supported a client, <a href=\"https:\/\/www.linkedin.com\/posts\/barry-obyrne_netzero-sustainability-solarenergy-activity-6777554387855265792-pQw1\">FAS Renewable Energy<\/a>, in their commitment to support Egypt\u2019s transition to a greener economy.<\/p>\n<p>In addition, funding to decarbonize existing technology and industry, develop green hydrogen and its derivatives has enormous potential for the Middle East. Projects are already under way in Oman, UAE, and Egypt in the Suez Canal Economic Zone (SCZone).<\/p>\n<p>Delivering a net-zero outcome is going to require significant progress and acceleration of carbon removal technologies, such as carbon capture, utilization and storage (CCUS). The UAE\u2019s ADNOC has pioneered CCUS in the Middle East at its Al Reyadah plant in Abu Dhabi, the first in the world to capture carbon from the iron and steel industry. We hope more such facilities will follow across the region.<\/p>\n<p>HSBC Egypt recently signed an agreement with other energy transition leaders to decarbonize existing oil and gas downstream facilities, with the ambition to provide execution, technology, and financing expertise to support the decarbonization of select downstream facilities across the country, aligning plans with Egypt\u2019s leadership of COP27.<\/p>\n<p>Designing and creating energy and industrial systems that offer both climate security and energy efficiency is complex, requiring intense collaboration. I believe that HSBC, with our global scale and the nature of our business \u2014 providing finance to enable economic and social development around the world \u2014 can deliver this convening power.<\/p>\n<p>The hard truth about transition is that huge access to capital is required. The Energy Transitions Commission (ETC) estimates around USD 4 tn per annum average capital investment is needed in energy, built environment, and harder-to-abate sectors such as shipping, steel, and cement, to achieve net zero by 2050.<\/p>\n<p>That capital must come from a variety of sources. So must the ideas for making transition real. HSBC\u2019s net zero strategy is centered around supporting clients to make the transition, and I believe we can make the strongest impact by helping develop tailored solutions for reducing emissions, taking into account the unique needs of industries, businesses and geographies.<\/p>\n<p>I invite you to join the conversation on what is needed to make this happen by <a href=\"https:\/\/www.hsbcscheduling.com\/eventweb.php?pid=PDFjNDU8MGUxPzFsMTU&src=enterpriseam\">registering for our Energy Transition Webinar series<\/a>, which starts next week. Join us as we discuss the latest climate analysis, the global energy market and progress on transition to net zero. Hear from policymakers, industry experts, businesses and climate tech players, helping to facilitate the transition of the energy system and wider climate goals on the route to COP27 and beyond.<\/p>\n<p><em>Zoe Knight (<\/em><em><a href=\"https:\/\/www.linkedin.com\/in\/zo%C3%AB-knight-66310511\/\">LinkedIn<\/a><\/em><em>) is <\/em><em>HSBC\u2019s Group Head, Centre of Sustainable Finance and Head of Climate Change Middle East, North Africa and Turkey<\/em><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/a-message-from-hsbc\/\">A MESSAGE FROM HSBC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate-change\/\">climate change<\/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\/zoe-knight\/\">Zoe Knight<\/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=\"549481\" 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=\"549481\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/19\/egypt-gas-revenues-could-rise-more-than-50-this-fiscal-year\/\">\r\n                            Egypt gas revenues could rise more than 50% this fiscal year                        <\/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\/19\/egypt-gas-revenues-could-rise-more-than-50-this-fiscal-year\/\" 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\/19\/egypt-gas-revenues-could-rise-more-than-50-this-fiscal-year\/')\">\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\/19\/egypt-gas-revenues-could-rise-more-than-50-this-fiscal-year\/\">\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 gas revenues could rise more than 50% this fiscal year&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/19\/egypt-gas-revenues-could-rise-more-than-50-this-fiscal-year\/\">\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\/19\/egypt-gas-revenues-could-rise-more-than-50-this-fiscal-year\/&title=Egypt gas revenues could rise more than 50% this fiscal year\">\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+gas+revenues+could+rise+more+than+50%25+this+fiscal+year+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F19%2Fegypt-gas-revenues-could-rise-more-than-50-this-fiscal-year%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\/19\/egypt-gas-revenues-could-rise-more-than-50-this-fiscal-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549481\" class=\"content-area-description single-story post-549481 post type-post status-publish format-standard hentry category-energy tag-energy tag-enterpriseam tag-europe tag-oil-and-gas tag-tarek-el-molla wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Egypt wants to generate USD 8.5-10 bn in natural gas revenues in FY 2022-2023<\/strong>, up from USD 6.5 bn last year, Oil Minister Tarek El Molla told Al Arabiya (<a href=\"https:\/\/bit.ly\/3DHVL6y\">watch, runtime: 2:02<\/a>).<\/p>\n<p><strong>El Molla cited the government\u2019s <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d8825220-3a11-4b4f-85d0-10a069902e3a\">electricity rationing strategy<\/a><\/strong><strong> as being a key driver for the higher expected revenues<\/strong>, telling the broadcaster that Egypt was able to make additional shipments in August due to lower domestic consumption. \u201cTemperatures dropping in September and October would raise our electricity rationing capabilities, and therefore [allow] for more gas to be sent to liquefaction plants [for exports],\u201d he said. Egypt has made two additional gas shipments since the decision to ration electricity consumption came into force last month, Prime Minister Moustafa Madbouly <a href=\"https:\/\/bit.ly\/3R8zhPz\">said<\/a> last week.<\/p>\n<p><strong>Higher spot prices are helping too:<\/strong> <a href=\"https:\/\/www.asharqbusiness.com\/article\/41731\">Bloomberg<\/a> forecasts Egypt to export 8.2 mn tons of LNG this year due to higher spot prices in Europe. Gas prices in Europe have surged on the back of the war in Ukraine, which has seen Russia cut gas flows in response to financial and energy sanctions imposed by the EU and US.<\/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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/europe\/\">Europe<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tarek-el-molla\/\">Tarek El Molla<\/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=\"549482\" 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=\"549482\">\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\">REGULATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/19\/amendments-to-the-ppp-acts-exec-regs-drop\/\">\r\n                            Amendments to the PPP Act\u2019s exec regs drop                        <\/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\/19\/amendments-to-the-ppp-acts-exec-regs-drop\/\" 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\/19\/amendments-to-the-ppp-acts-exec-regs-drop\/')\">\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\/19\/amendments-to-the-ppp-acts-exec-regs-drop\/\">\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=Amendments to the PPP Act\u2019s exec regs drop&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/19\/amendments-to-the-ppp-acts-exec-regs-drop\/\">\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\/19\/amendments-to-the-ppp-acts-exec-regs-drop\/&title=Amendments to the PPP Act\u2019s exec regs drop\">\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=Amendments+to+the+PPP+Act%E2%80%99s+exec+regs+drop+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F19%2Famendments-to-the-ppp-acts-exec-regs-drop%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\/19\/amendments-to-the-ppp-acts-exec-regs-drop\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/269.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"549483\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/19\/amendments-to-the-ppp-acts-exec-regs-drop\/269-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/269.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"269.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/269.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/269.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549482\" class=\"content-area-description single-story post-549482 post type-post status-publish format-standard has-post-thumbnail hentry category-regulation-watch tag-enterpriseam tag-investment-watch tag-legislation-watch tag-public-private-partnership tag-regulation tag-regulation-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-07\"><\/a> <strong>Introducing the new and improved PPP Act: <\/strong>Prime Minister Moustafa Madbouly yesterday signed off on amendments to the executive regulations of the PPP Act aimed at making it easier for private sector firms to partner with the government on key projects. The regulations were published in the Official Gazette yesterday, after the cabinet <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c9144d66-b060-44dd-936a-8c9da3a903df\">greenlit them<\/a> earlier this month.<\/p>\n<p><strong>Among the important changes:<\/strong><\/p>\n<ul>\n<li><strong>Going solo:<\/strong> Companies are no longer required to be part of a consortium to bid for projects and can bid individually;<\/li>\n<li><strong>The right to appeal:<\/strong> Companies who have their pre-approvals rejected can now appeal the decision;<\/li>\n<li><strong>Taking initiative:<\/strong> Companies can now propose new projects provided they handle the feasibility studies and the financing.<\/li>\n<\/ul>\n<p><strong>REMEMBER-<\/strong> The government\u2019s plans to reduce state involvement in the economy are expected to see it sell down assets to private sector firms via PPPs. Industries including <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0f838dc3-3a04-4cc4-bec6-673b35eb99ff\">electric and gas utilities<\/a>, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ffe8229b-edb8-487c-ac29-66af689eee1d\">pharma<\/a>, and<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/265e6474-f42a-4478-be70-6b131b38bf25\">education<\/a> have been pushing for more involvement through a more efficient and flexible PPP framework. Mobilizing private sector investment in state-funded mega-projects is also on the IMF\u2019s wishlist amid ongoing talks with the government on an assistance loan.<\/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\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/public-private-partnership\/\">public-private partnership<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/regulation\/\">regulation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/regulation-watch\/\">regulation 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=\"549484\" 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=\"549484\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/19\/qatar-eyes-investment-in-egypts-container-terminals\/\">\r\n                            Qatar eyes investment in Egypt\u2019s container terminals                        <\/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\/19\/qatar-eyes-investment-in-egypts-container-terminals\/\" 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\/19\/qatar-eyes-investment-in-egypts-container-terminals\/')\">\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\/19\/qatar-eyes-investment-in-egypts-container-terminals\/\">\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=Qatar eyes investment in Egypt\u2019s container terminals&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/19\/qatar-eyes-investment-in-egypts-container-terminals\/\">\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\/19\/qatar-eyes-investment-in-egypts-container-terminals\/&title=Qatar eyes investment in Egypt\u2019s container terminals\">\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=Qatar+eyes+investment+in+Egypt%E2%80%99s+container+terminals+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F19%2Fqatar-eyes-investment-in-egypts-container-terminals%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\/19\/qatar-eyes-investment-in-egypts-container-terminals\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549484\" class=\"content-area-description single-story post-549484 post type-post status-publish format-standard hentry category-investment-watch tag-enterpriseam tag-infrastructure tag-investment-watch tag-qatar tag-qatar-investment-authority tag-sovereign-fund-of-egypt tag-transport-ministry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>Qatar, Transport Ministry to conduct feasibility studies for Egypt port investment:<\/strong> <a href=\"https:\/\/mahacapital.com\/\">Maha Capital<\/a>, the investment arm of Qatar Investment Authority (QIA), has signed an MoU with the Transport Ministry to explore investment in Egypt\u2019s container terminals, the ministry said in <a href=\"https:\/\/www.facebook.com\/MinistryTransportation\/posts\/pfbid02n9DfyfSKDFi8jhfPspnUaVhhK4KcfB1wyK7g5fhcY1Bj1aiXbfZZGZJJdjqthTwSl\">a statement<\/a> yesterday. Under the agreement, the two sides will conduct feasibility studies for \u201cjoint projects in ports\u201d such as the West Port Said container terminal, the statement said, without disclosing further information.<\/p>\n<p><strong>This is the second agreement of its kind in less than a week: <\/strong>The Sovereign Fund Egypt and QIA <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/79ce7f1b-589c-431f-9ed7-47f9a283f787\">last week signed<\/a> an agreement on ports during President Abdel Fattah El Sisi\u2019s visit to Doha. Neither the Egyptian or Qatari governments have disclosed the details of the agreement. Qatar has pledged to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c734fc23-c0c0-4322-bf5d-ce3c400e707a\">invest USD 5 bn here<\/a> to help shield us from the fallout from the war in Ukraine.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/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\/qatar\/\">Qatar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qatar-investment-authority\/\">Qatar Investment Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport-ministry\/\">Transport Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549485\" 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=\"549485\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/19\/alex-containers-welcomes-new-chairman-after-gulf-funds-buy-in\/\">\r\n                            Alex Containers welcomes new chairman after Gulf funds buy in                        <\/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\/19\/alex-containers-welcomes-new-chairman-after-gulf-funds-buy-in\/\" 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\/19\/alex-containers-welcomes-new-chairman-after-gulf-funds-buy-in\/')\">\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\/19\/alex-containers-welcomes-new-chairman-after-gulf-funds-buy-in\/\">\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=Alex Containers welcomes new chairman after Gulf funds buy in&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/19\/alex-containers-welcomes-new-chairman-after-gulf-funds-buy-in\/\">\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\/19\/alex-containers-welcomes-new-chairman-after-gulf-funds-buy-in\/&title=Alex Containers welcomes new chairman after Gulf funds buy in\">\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=Alex+Containers+welcomes+new+chairman+after+Gulf+funds+buy+in+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F19%2Falex-containers-welcomes-new-chairman-after-gulf-funds-buy-in%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\/19\/alex-containers-welcomes-new-chairman-after-gulf-funds-buy-in\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549485\" class=\"content-area-description single-story post-549485 post type-post status-publish format-standard hentry category-moves tag-adq tag-alexandria-container-and-cargo-handling tag-enterpriseam tag-infrastructure tag-moves tag-saudi-arabia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Islam Mohamed Abdel Fattah<\/strong> has been appointed <strong>chairman<\/strong> of <strong>Alexandria Container <\/strong><strong>and Cargo Handling<\/strong> (ACCH), according to an <a href=\"https:\/\/ent.news\/2022\/9\/Alexandria-Container-Cargo-Handling-new-ceo.pdf\">EGX disclosure (pdf)<\/a>.<\/p>\n<p><strong>ACCH is now majority-owned by Gulf sovereign funds:<\/strong> The EGX-listed firm recently saw a change in shareholders after the Saudi and Abu Dhabi sovereign funds acquired minority stakes as part of a USD multi-bn buying spree on the EGX. The Saudi Public Investment Fund (PIF) purchased <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/316415e5-ccc3-42ca-b442-80dd3b8b2e16\">a 20% stake<\/a> in Alex Containers for EGP 3 bn, while Abu Dhabi fund ADQ snapped up a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b4a11664-2159-45ba-ba2f-bf0d3dfd3978\">32% stake<\/a> for USD 186.1 mn. The Holding Company for Maritime and Land Transport was the reported seller to the PIF, while Alexandria Port Authority reportedly sold the stake to ADQ.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/adq\/\">ADQ<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alexandria-container-and-cargo-handling\/\">Alexandria Container and Cargo Handling<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549486\" 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=\"549486\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/19\/549486\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549486\" class=\"content-area-description single-story post-549486 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_VIEWS_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=\"549487\" 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=\"549487\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/19\/the-winners-of-the-ndq-hq-redevelopment-contract-will-be-announced-in-coming-weeks\/\">\r\n                            The winners of the NDQ HQ redevelopment contract will be announced in coming weeks                        <\/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\/19\/the-winners-of-the-ndq-hq-redevelopment-contract-will-be-announced-in-coming-weeks\/\" 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\/19\/the-winners-of-the-ndq-hq-redevelopment-contract-will-be-announced-in-coming-weeks\/')\">\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\/19\/the-winners-of-the-ndq-hq-redevelopment-contract-will-be-announced-in-coming-weeks\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The winners of the NDQ HQ redevelopment contract will be announced in coming weeks&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/19\/the-winners-of-the-ndq-hq-redevelopment-contract-will-be-announced-in-coming-weeks\/\">\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\/19\/the-winners-of-the-ndq-hq-redevelopment-contract-will-be-announced-in-coming-weeks\/&title=The winners of the NDQ HQ redevelopment contract will be announced in coming weeks\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+winners+of+the+NDQ+HQ+redevelopment+contract+will+be+announced+in+coming+weeks+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F19%2Fthe-winners-of-the-ndq-hq-redevelopment-contract-will-be-announced-in-coming-weeks%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\/19\/the-winners-of-the-ndq-hq-redevelopment-contract-will-be-announced-in-coming-weeks\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549487\" class=\"content-area-description single-story post-549487 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-ayman-soliman tag-central-bank-of-egypt tag-climate tag-cop27 tag-economy tag-enterpriseam tag-last-nights-talk-shows tag-policy tag-smart-green-governorates tag-sovereign-fund-of-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Two of the big themes of 2022 \u2014 climate and the economy \u2014 featured on the <\/strong><strong>airwaves last night<\/strong> following the deadline of the Smart Green Governorates initiative and ahead of the Central Bank of Egypt\u2019s policy meeting later this week.<\/p>\n<p><strong>BUT FIRST- We\u2019ll soon know which companies will be redeveloping the NDP HQ:<\/strong> The Sovereign Wealth Fund of Egypt (SFE) will announce the winner of the contract to redevelop the former National Democratic Party headquarters \u201cin the coming weeks,\u201d SFE head Ayman Soliman told Kelma Akhira\u2019s Lamees El Hadidi last night (<a href=\"https:\/\/www.youtube.com\/watch?v=420RUU6hM8M\">watch, runtime: 10:50<\/a>). It remains unknown which companies are vying for the project, though Soliman <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ec6542ef-2669-479e-800f-97fc8d864564\">said in December<\/a> that five consortiums were interested in submitting bids. Bidding for the tender closed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ae03012e-5003-4196-b657-7cf3125f017f\">at the end of June<\/a>.<\/p>\n<p><strong>More macro + policy analysis: <\/strong>Economist Medhat Nafea made his second appearance on the airwaves in two days, joining Ala Mas\u2019ouleety to discuss central bank independence and the upcoming economic conference (watch, runtime: <a href=\"https:\/\/www.youtube.com\/watch?v=nwFXJAfCzEg\">3:06<\/a> | <a href=\"https:\/\/www.youtube.com\/watch?v=IeXiTg3_8og\">3:30<\/a>). The Central Bank of Egypt\u2019s monetary policy \u201chasn\u2019t been successful\u201d in recent years due to \u201cconflicting\u201d decisions, Nafea said, stressing the importance of maintaining central bank independence. Meanwhile, former prime minister Hazem El Beblawy was back to warn about Egypt\u2019s rising debt levels and called on policymakers to control it (<a href=\"https:\/\/www.youtube.com\/watch?v=-FILmzJSYrs\">watch, runtime: 7:16<\/a>).<\/p>\n<p><strong>The expiration of yesterday\u2019s deadline for the Planning Ministry\u2019s <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/76aee85d-c85b-4487-8b4e-98a1424e956f\">Smart Green<\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/76aee85d-c85b-4487-8b4e-98a1424e956f\">Governorates initiative<\/a><\/strong><strong> got coverage<\/strong> from Kelma Akhira (<a href=\"https:\/\/www.youtube.com\/watch?v=n2UN-Gz_xWc\">watch, runtime: 1:39<\/a>). The initiative, which will map green projects nationwide, gives prospective green projects a platform to raise investments at COP27 in November. The 5.4k submitted bids will be whittled down to 18, which will be presented at the summit in November, El Hadidi said. Emad El Din Adly, the head of the Egyptian Sustainable Development Forum (ESDF) and a member of the jury for the initiative, phoned in to the show to discuss the process (<a href=\"https:\/\/www.youtube.com\/watch?v=ZBddMo0rrGI\">watch, runtime: 6:29<\/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\/ayman-soliman\/\">Ayman Soliman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/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\/policy\/\">policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smart-green-governorates\/\">Smart Green Governorates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549488\" 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 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data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n      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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-fpetz3c\" data-v=\"4\" data-block-id=\"fpetz3c\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-fpetz3c-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-fpetz3c-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 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class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"549489\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/19\/economic-woes-world-cup-controversy-get-attention-in-the-foreign-press\/\">\r\n                            Economic woes + World Cup controversy get attention in the foreign press                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/19\/economic-woes-world-cup-controversy-get-attention-in-the-foreign-press\/&title=Economic woes + World Cup controversy get attention in the foreign press\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Economic+woes+%2B+World+Cup+controversy+get+attention+in+the+foreign+press+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F19%2Feconomic-woes-world-cup-controversy-get-attention-in-the-foreign-press%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/19\/economic-woes-world-cup-controversy-get-attention-in-the-foreign-press\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549489\" class=\"content-area-description single-story post-549489 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-agriculture tag-economy tag-enterpriseam tag-greece tag-human-rights tag-saudi-arabia tag-startups tag-trade wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It\u2019s a mixed bag in the foreign press this morning, with no one story dominating the <\/strong><strong>conversation.<\/strong> Here are some of the stories being picked up internationally:<\/p>\n<ul>\n<li><strong>Our import woes are making headlines: <\/strong>Egypt and Tunisia are having a hard time filling the shelves as the FX shortage impacts the availability of certain foods and consumer goods. (<a href=\"https:\/\/www.economist.com\/middle-east-and-africa\/2022\/09\/15\/from-tea-to-cars-egypt-and-tunisia-struggle-to-pay-for-imports\">The Economist<\/a>)<\/li>\n<li><strong>Controversy over rumored Egypt-KSA-Greece World Cup bid:<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bfcefbce-8918-49f0-a749-9e147c76429b\">Rumors<\/a> that Egypt, Saudi Arabia and Greece will launch a bid to host the 2030 World Cup are already generating controversy, with Football Supporters Europe and Human Rights Watch criticizing the idea on human rights and logistics grounds. (<a href=\"https:\/\/www.politico.eu\/article\/greece-criticism-joint-fifa-world-cup-bid-saudi-arabia-egypt\/\">Politico<\/a>)<\/li>\n<li><strong>Farmers embrace agtech: <\/strong>Government <a href=\"https:\/\/www.adaptation-fund.org\/project\/building-resilient-food-security-systems-to-benefit-the-southern-egypt-region\/\">initiatives<\/a> to boost food security and local startups like <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/93a7bd00-ec88-46d1-b4fd-4ef4d2bb3155\">Mozare3<\/a> are introducing local farmers to new industry tech. (<a href=\"https:\/\/qz.com\/technology-is-changing-the-face-of-farming-in-egypt-1849504460\">Quartz Africa<\/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\/agriculture\/\">agriculture<\/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\/greece\/\">Greece<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549490\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549491\" 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=\"549491\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/19\/another-eur-100-mn-in-green-lending-could-be-coming-from-the-eib\/\">\r\n                            Another EUR 100 mn in green lending could be coming from the EIB                        <\/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\/19\/another-eur-100-mn-in-green-lending-could-be-coming-from-the-eib\/\" 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\/19\/another-eur-100-mn-in-green-lending-could-be-coming-from-the-eib\/')\">\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\/19\/another-eur-100-mn-in-green-lending-could-be-coming-from-the-eib\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Another EUR 100 mn in green lending could be coming from the EIB&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/19\/another-eur-100-mn-in-green-lending-could-be-coming-from-the-eib\/\">\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\/19\/another-eur-100-mn-in-green-lending-could-be-coming-from-the-eib\/&title=Another EUR 100 mn in green lending could be coming from the EIB\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Another+EUR+100+mn+in+green+lending+could+be+coming+from+the+EIB+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F19%2Fanother-eur-100-mn-in-green-lending-could-be-coming-from-the-eib%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\/19\/another-eur-100-mn-in-green-lending-could-be-coming-from-the-eib\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549491\" class=\"content-area-description single-story post-549491 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-development-finance tag-enterpriseam tag-european-investment-bank wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The European Investment Bank (EIB)<\/strong> could lend <strong>EUR 100 mn <\/strong>to the <strong>Environmental <\/strong><strong>Affairs Agency<\/strong> for on-lending to public and private industrial companies to green their manufacturing processes, according to the <a href=\"https:\/\/www.eib.org\/en\/projects\/pipelines\/all\/20210635\">bank\u2019s website<\/a>.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>Egyptian Company for Pipes and Cement Products (Siegwart)<\/strong> is set to open an <strong>EUR 8 mn <\/strong><strong>railway sleepers factory<\/strong> this <strong>October<\/strong>, with an annual production capacity of 500k high-speed railway sleepers. (<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0KHzYbovyBZS8g1JkZN3mL7vdNCaK2WAFeLYmG3LubotnGR8zaT1PqXhzjA5KYpZHl?__cft__[0]=AZUmM7_0O818rKOWwb4W1P7s7DyZMS6OnumzPiGy-P7xuO5BpLOHIWnZh6y8C8fDFR81-zzrxtKWpOwloPHeJuG6SPewpYK4fCumkEZQKNJqzrx5yJod5fW7Gb6a-fzNvYRFVV_3Xoi5tfyqP-oJE2gHg9Bb9WjRi5hNY4yEC15aSlLeNEjIuT4lnf8GE9ZLXy-Z36e8aVZkP0bIPxYrYiXT&__tn__=%2CO%2CP-R\">Statement<\/a>).<\/li>\n<li>The new <strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5ffcc7b9-e0a3-4662-bd66-e89dc5c939de\">Egyptian-British mint<\/a><\/strong> in the Suez Canal Economic Zone will cost <strong>EGP 2 <\/strong><strong>bn<\/strong> to set up. The facility will produce<strong> 500 mn coins annually<\/strong>, with 50% directed for export. (<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0fLXtFWAaADTf896Zpd7EGch6TTDVGcDNohkSnEkhQHPWcqwqmR7tRcm7CqJsUCTol\">Cabinet statement<\/a>)<\/li>\n<li>Chinese chemical firm <strong><a href=\"http:\/\/tianyichemical.com\/\">Tianyi Chemical<\/a><\/strong> will build a <strong>bromine plant <\/strong>in the <strong>Suez Canal Economic Zon<\/strong><strong>e<\/strong> that is set to eventually produce <strong>30k tons<\/strong> of bromine a day. (<a href=\"https:\/\/www.facebook.com\/SCZONE.EG\/posts\/pfbid0qWVD2nXJtg8pCiNefdkaphLMDKKsv5Vn7WpFnmFzNVvHHbbq5xqZ1uiJEU6KdXx1l\">Statement<\/a>)<\/li>\n<li><strong>Amazon Egypt head Omar Elsahy<\/strong> met with the head of the <strong>General Authority for Investment and Freezones <\/strong>to discuss increasing investment. (<a href=\"https:\/\/www.facebook.com\/GAFIEG\/posts\/pfbid0PP63EZpaqNkTcVJECKRGRzEAfpxkEhy2wVUv5NiMXHdcoAXnu1J8hgfezkMSqhErl\">Statement<\/a>)<\/li>\n<li><strong>Forty-six pre-trial detainees<\/strong> were released over the weekend, including human rights lawyer <strong>Haitham Mohamadein<\/strong>. (<a href=\"https:\/\/www.youm7.com\/5907341\">Youm7<\/a> | <a href=\"https:\/\/apnews.com\/article\/middle-east-africa-religion-egypt-arrests-82576eb97a084ea4e25dd29d8eefce69\">AP<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/european-investment-bank\/\">European Investment Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549492\" 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=\"549492\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/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\/19\/the-us-tech-ipo-market-hasnt-been-doing-this-badly-since-the-1990s\/\">\r\n                            The US tech IPO market hasn\u2019t been doing this badly since the 1990s                        <\/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\/19\/the-us-tech-ipo-market-hasnt-been-doing-this-badly-since-the-1990s\/\" 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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Wednesday will be the 238th day without any tech listings worth more than USD 50 mn, surpassing the droughts seen during both of this century\u2019s major market crashes. Following last year\u2019s market boom, tech stocks have been particularly hard hit by this year\u2019s sell-off, with the Nasdaq down almost 28% year-to-date compared to c.19% for the S&amp;P 500.<\/p><p><strong>And the broader IPO market?<\/strong> Volumes are down 94% y-o-y. Companies have raised just USD 7 bn so far this year, compared to the record-breaking USD 110 bn in the same period last year, according to Dealogic data.<\/p><p><strong>Also worth noting:<\/strong><\/p><ul>\n<li><strong>Arabian Drilling hired HSBC Saudi Arabia as lead manager on its upcoming Riyadh IPO<\/strong><strong>:<\/strong> Goldman Sachs and SNB will also join HSBC as joint advisors, bookrunners, and underwriters. The Saudi firm will offer a 30% stake (26.7 mn shares) in the IPO, which could value the company at as much as USD 1.4 bn. Bookbuilding is set to run from 28 September to 5 October. (<a href=\"https:\/\/ent.news\/2022\/9\/Arabian-Drilling-Intention-To-Float.pdf\">Intention to list, pdf<\/a>)<\/li>\n<li><strong>Chinese manufacturers struggle as US turns up the heat: <\/strong>The MSCI China index has fallen 7% this month amid investor concern about the Biden administration\u2019s recent moves to isolate the country\u2019s tech industry. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-09-18\/us-china-tech-rivalry-adds-to-headaches-for-stock-investors?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a>)<\/li>\n<li><strong>Porsche could be Europe\u2019s third-largest IPO ever:<\/strong> Volkswagen had valued iconic sports car brand Porsche at EUR 70-75 bn ahead of its IPO in Frankfurt. The company priced preferred shares at EUR 76.5 to 82.5 apiece, which would make it Germany\u2019s second-largest IPO and Europe\u2019s third-biggest ever at the upper end of the pricing range. (<a href=\"https:\/\/www.volkswagenag.com\/en\/news\/2022\/09\/Executive_Board_and_Supervisory_Board_determine_price_range.html\">Statement<\/a> | <a href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/exclusive-volkswagen-targets-70-75-bln-eur-valuation-planned-porsche-ipo-2022-09-18\/\">Reuters<\/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>9,763<\/p>\n<\/td>\n<td>\n<p>-3.1% (YTD: -18.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 19.36<\/p>\n<\/td>\n<td>\n<p>Sell 19.47<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 19.39<\/p>\n<\/td>\n<td>\n<p>Sell 19.45<\/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>11,572<\/p>\n<\/td>\n<td>\n<p>-2.2% (YTD: +2.6%)<\/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>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>10,202<\/p>\n<\/td>\n<td>\n<p>+1.8% (YTD: +20.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,489<\/p>\n<\/td>\n<td>\n<p>+0.8% (YTD: +9.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>3,873<\/p>\n<\/td>\n<td>\n<p>-0.7% (YTD: -18.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,236<\/p>\n<\/td>\n<td>\n<p>-0.6% (YTD: -2.0%)<\/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>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td>\n<p>3,500<\/p>\n<\/td>\n<td>\n<p>-1.2% (YTD: -18.6%)<\/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>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 91.35<\/p>\n<\/td>\n<td>\n<p>+0.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 7.76<\/p>\n<\/td>\n<td>\n<p>-6.7%<\/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>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,683.50<\/p>\n<\/td>\n<td>\n<p>+0.4%<\/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>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 19,395<\/p>\n<\/td>\n<td>\n<p>-3.3% (YTD: -57.7%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 fell 3.1% at yesterday\u2019s close<\/strong> on turnover of EGP 1.27 bn (25.2% above the 90-day average). Local investors were net buyers. The index is down 18.3% YTD.<\/p><p><strong>In the green: <\/strong>QNB Alahly (+7.0%), CIRA (+1.6%) and Oriental Weavers (+0.5%).<\/p><p><strong>In the red: <\/strong>Fawry (-9.1%), GB Auto (-8.7%) and Heliopolis Housing and Development (-8.4%).<\/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\/arabian-drilling\/\">Arabian Drilling<\/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\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/germany\/\">Germany<\/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\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/porsche\/\">Porsche<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/volkswagen\/\">Volkswagen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"549493\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure 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href=\"https:\/\/enterpriseam.com\/egypt\/blackboard\/\">\r\n                            Read Blackboard                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">14<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/scholarship-providers-require-students-to-work-in-egypt-after-their-degrees-how-does-this-pan-out-in-real-life\/\">\r\n                            Scholarship providers require students to work in Egypt after their degrees \u2014 how does this pan out in real life?<\/a>\r\n                        <\/h3>\r\n                        \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn 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                    <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-549493\" class=\"content-area-description post-549493 blackboard type-blackboard status-publish has-post-thumbnail hentry tag-chevening tag-education tag-enterprise-blackboard tag-enterpriseam tag-fulbright tag-qalaa-holdings-scholarship-foundation tag-sawiris-foundation 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-09\"><\/a> <strong>How do scholarship providers ensure that Egyptian scholarship recipients come back <\/strong><strong>after completing their degrees?<\/strong> Several companies and organizations that offer scholarships to Egyptian students pursuing undergraduate and graduate degrees either abroad or here at home stipulate that scholarship recipients return to Egypt to work for a minimum two- or three-year period after completing their studies. Do students actually fulfill this requirement and return to Egypt? How do organizations implement this requirement? Enterprise spoke with several of these institutions providing scholarships, as well as previous scholarship recipients, all of whom confirmed that, while there isn\u2019t a formalized or legal framework to implement the requirement, the broad majority of students do come home as part of a \u201csocial contract.\u201d<\/p>\n<p><strong>Which scholarship providers have this requirement?<\/strong> The <a href=\"https:\/\/www.sawirisfoundation.org\/\">Sawiris Foundation for Social Development<\/a>, Orascom Construction \u2014 which disburses <a href=\"https:\/\/www.sawirisfoundation.org\/en\/projects\/the-onsi-sawiris-scholarship-program-ossp\">its scholarships<\/a> through the Sawiris Foundation, in cooperation with Amideast \u2014 the <a href=\"https:\/\/qalaascholarships.org\/\">Qalaa Holdings Scholarship Foundation<\/a>, <a href=\"https:\/\/fulbright-egypt.org\/program\/\">Fulbright<\/a>, and the UK government\u2019s <a href=\"https:\/\/www.chevening.org\/\">Chevening<\/a> program each provide scholarships that require students to come back to work in Egypt for two or three years after the end of their degrees. The Sawiris Foundation offers scholarships for undergraduate and graduate students, Orascom Construction focuses on students looking to pursue graduate degrees in business administration or construction management, and Qalaa Holdings offers scholarships for graduate degrees, without specifying an area of study.<\/p>\n<p><strong>Why is this condition in place?<\/strong> Representatives we spoke with from different scholarship providers agree that the idea is to support the growth and development of high-caliber individuals who can contribute to Egypt\u2019s development by pursuing quality education abroad and implementing their learnings here in the domestic market.<\/p>\n<p><strong>There are some exceptions, though:<\/strong> The foundation has recently added a condition in the contract between the foundation and the scholarship recipient that allows the student \u2014 after receiving explicit approval from the foundation and the university they are studying at \u2014 to remain in the country where they are studying for one year post-graduation, Senior Programs Officer Hadeer Mohamed told Enterprise. This is possible under the US\u2019 Optional Practical Training (OPT) Program, which allows students on an international student visa to get temporary employment for 12 months as long as it is directly related to the student\u2019s area of study. The foundation decided to allow for this scenario to better equip students to join the labor force, Mohamed said. The Chevening scholarship also allows for certain exceptions, including allowing students to spend two years in a third country in extenuating circumstances making their return to their home country impossible, such as open conflict.<\/p>\n<p><strong>Remember: The number of Egyptians studying abroad isn\u2019t exactly negligible \u2014 and has been on the rise over the past two decades.<\/strong> As of 2018, there were nearly 39k Egyptian undergraduate and graduate students studying abroad, according to <a href=\"https:\/\/www.statista.com\/statistics\/1254463\/egyptian-students-in-tertiary-education-abroad\/\">Statista data<\/a>. <a href=\"https:\/\/www.statista.com\/statistics\/1257466\/number-of-egyptian-students-in-tertiary-education-in-western-europe-and-north-america\/\">Nearly half<\/a> of those (16k) pursued their tertiary education degrees in Western Europe and North America. These figures have been growing steadily over the past two decades, nearly tripling from 8.8k students in 2000 to 34.9k in the 2017-2018 academic year, according to <a href=\"https:\/\/ent.news\/2020\/9\/wp2020-016.pdf\">UNESCO data (pdf)<\/a>. These students would be a loss to the local market if they didn\u2019t come back to contribute to the Egyptian market in some way, one scholarship provider representative who asked to remain anonymous told Enterprise.<\/p>\n<p><strong>So how do scholarship providers actually ensure students come back?<\/strong> For the Sawiris Foundation for Social Development, undergraduate students who receive a scholarship from the foundation are required to work in Egypt for three years after graduating, while graduate students need to work in Egypt for two years after completing their degrees. This requirement applies to all scholarship recipients, regardless of whether they pursue their studies in Egypt or abroad, and is stipulated in a written contract that all students must sign, Mohamed told Enterprise.<\/p>\n<p><strong>There is legal recourse \u2014 although it doesn\u2019t appear to be popular:<\/strong> If a student appears to be circumventing the requirement to work in Egypt for the two- or three-year period required by the Sawiris Foundation, the foundation goes through a \u201clong period\u201d of warnings and negotiations with the student, Director Mays Abou Hegab told us. It is only once the foundation \u201chas exhausted all options\u201d that it pursues legal action against the student, she said. The scholarship provider representative who asked to remain anonymous said the same, noting that the provider can take legal action against students who violate the return condition, but typically pursues all other routes to avoid going to court. The provider instead tries to rely on emphasizing the \u201csocial contract\u201d and social obligation aspect of the agreement to instill a sense of personal responsibility and make students return and contribute to the country\u2019s economy willingly, our source said.<\/p>\n<p><strong>Some providers, such as Chevening, require students to reimburse the organization for the scholarship<\/strong> if they violate the terms of the contract, according to a copy of the 2019-2020 contract reviewed by Enterprise. Students who fail to return to their home country for two years after completing their degree are legally required through the contract by returning any financial support the organization provided, including tuition fees and stipends.<\/p>\n<p><strong>And in any case, the broad majority of students opt to return:<\/strong> Since the Sawiris Foundation started implementing the condition of return in 2018, more than 90% of students have obliged, Mohamed said. \u201cThere have been maybe two cases where the students did not return to Egypt,\u201d Mohamed and Abou Hegab confirmed.<\/p>\n<p><strong>This partially goes back to that personal responsibility:<\/strong> \u201cI wouldn\u2019t have been able to pursue my studies abroad if it weren\u2019t for Qalaa Holdings\u2019 scholarship because business schools are extremely expensive,\u201d Omar Taha, who recently completed his master\u2019s degree at London Business School and returned to Egypt, told Enterprise. Although he doesn\u2019t believe that Qalaa would have pursued legal proceedings against him if he hadn\u2019t returned, Taha noted that there is a \u201csocial contract\u201d between him and the foundation.<\/p>\n<p><strong>But there are outliers \u2014 and not all students agree with the condition in the first place:<\/strong> The condition is \u201cnot studied well, impractical, and not in the students\u2019 interest,\u201d one Chevening scholarship recipient who asked to remain anonymous told Enterprise. \u201cThe one-year master\u2019s program is very work- and cost-intensive, and doesn\u2019t give students a chance to apply their learnings,\u201d she said. The source also tells us that there are other students she knows of who chose not to return to Egypt and instead pursued agreements with their universities to conduct research or gain other employment and remain in the UK. She is considering returning to the UK again after fulfilling her two-year employment term in Egypt, which she is fulfilling to make sure she is not in violation of her contract.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top education stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Court rules against university lecturer:<\/strong> Suez University lecturer Mona Prince has<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c64ecf91-c5df-4a2f-b795-79d883bdba87\">lost<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c64ecf91-c5df-4a2f-b795-79d883bdba87\">a legal battle<\/a> against the university, which fired her after she shared a video of herself belly dancing online.<\/li>\n<li><strong>Education financing is booming: <\/strong>Lamees El Hadidi discussed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/45ae6db2-da22-4fb6-9b28-1017310e9890\">the growth of consumer<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/45ae6db2-da22-4fb6-9b28-1017310e9890\">finance<\/a> providers in the education space with valU CCO Ahmed Hashem and Contact Financial Holding\u2019s Tamer Samir.<\/li>\n<li>E-payments startup <strong><a href=\"https:\/\/www.klickit.co\/\">Klickit<\/a><\/strong> will add<strong> 122 private and international schools<\/strong> in the 30 June Schools group to its <strong>tuition payment platform.<\/strong> (<a href=\"https:\/\/ent.news\/2022\/9\/Press-Release-Klickit-collaborates-with-30-June-schools-acquiring-122-new-private-and-international-schools.docx.pdf\">Statement<\/a><a href=\"https:\/\/ent.news\/2022\/9\/Press-Release-Klickit-collaborates-with-30-June-schools-acquiring-122-new-private-and-international-schools.docx.pdf\">, pdf<\/a>)<\/li>\n<li><strong>Teradata Egypt<\/strong> <a href=\"https:\/\/bit.ly\/3S8QYPN\">signed two MoUs<\/a> on <strong>training and capacity-building<\/strong> in big data analysis and AI for the state\u2019s administrative sector employees and <strong>Egypt University of Informatics<\/strong> students.<\/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\/chevening\/\">Chevening<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fulbright\/\">Fulbright<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qalaa-holdings-scholarship-foundation\/\">Qalaa Holdings Scholarship Foundation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sawiris-foundation\/\">Sawiris Foundation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"549495\" 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\/19\/549495\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549495\" class=\"content-area-description single-story post-549495 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>13-27 September (Tuesday-Tuesday): UN General Assembly, New York.<\/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>27-29 September (Tuesday-Thursday): <a href=\"https:\/\/www.hsbcscheduling.com\/eventweb.php?pid=PDFjNDU8MGUxPzFsMTU&src=enterpriseam\">HSBC Energy Transition Webinar<\/a> series.<\/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>30 September (Friday): <a href=\"https:\/\/www.youm7.com\/5906819\">Winter opening hours for shops and restaurants begin<\/a>.<\/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":549469,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-549468","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"c4f6654f-c5b3-466b-8ffe-d3ac889d6e48","teaser":"","photo_url":"https:\/\/ent.news\/2022\/9\/28.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>Up to 6 private companies in IPO talks with the EGX, says El Dokany - 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\/up-to-6-private-companies-in-ipo-talks-with-the-egx-says-el-dokany\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Up to 6 private companies in IPO talks with the EGX, says El Dokany\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/up-to-6-private-companies-in-ipo-talks-with-the-egx-says-el-dokany\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T22:39:08+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\/28.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\/up-to-6-private-companies-in-ipo-talks-with-the-egx-says-el-dokany\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/up-to-6-private-companies-in-ipo-talks-with-the-egx-says-el-dokany\/\",\"name\":\"Up to 6 private companies in IPO talks with the EGX, says El Dokany - 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