{"id":549585,"date":"2022-09-22T04:00:19","date_gmt":"2022-09-22T04:00:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=549585"},"modified":"2025-12-15T22:41:52","modified_gmt":"2025-12-15T22:41:52","slug":"central-bank-of-egypt-to-decide-on-interest-rates-following-huge-fed-rate-hike","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/central-bank-of-egypt-to-decide-on-interest-rates-following-huge-fed-rate-hike\/","title":{"rendered":"Central Bank of Egypt to decide on interest rates following huge Fed rate hike"},"content":{"rendered":"<section id=\"549587\" 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=\"549587\">\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\/22\/this-morning-central-bank-of-egypt-to-decide-on-interest-rates-today-fed-raises-rates-by-75-bps-for-third-successive-meeting\/\">\r\n                            THIS MORNING: Central Bank of Egypt to decide on interest rates today + Fed raises rates by 75 bps for third successive meeting                        <\/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          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                                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549587\" class=\"content-area-description single-story post-549587 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-abdel-fattah-el-sisi tag-central-bank-of-egypt tag-climate tag-cop27 tag-denmark tag-enterpriseam tag-financial-markets tag-interest-rates tag-un tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a id=\"tldr-story-01\" class=\"content-anchor\"><\/a><strong>The question on everyone\u2019s lips this morning: <\/strong><strong>Will the Central Bank of Egypt go through with its third rate hike of 2022?<\/strong> Seven of eight analysts and economists <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/500bf78b-80c1-472c-b625-c63bcabdb445\">we\u2019ve talked to<\/a> expect the Monetary Policy Committee to raise rates during its meeting today as inflation rises and the EGP continues to weaken.<\/p><p><strong>Yesterday\u2019s rate-hike by the Federal Reserve (more on that below) puts Egypt under \u201cmounting <\/strong><strong>pressure,\u201d<\/strong> Hany Geneina, a long-time market watcher who is now an adjunct professor of business administration at AUC, told Bloomberg Asharq yesterday (<a href=\"https:\/\/www.asharqbusiness.com\/article\/41976\">watch, runtime: 6:34<\/a>). Tighter US monetary policy makes it more difficult for Egypt to attract foreign investors back to the country and could compel us to raise interest rates by 2-3 percentage points by 1Q 2023.<\/p><p><strong>EGP WATCH-<\/strong> <strong>The EGP eased further against the greenback to hi<\/strong><strong>t <\/strong><strong>EGP 19.5<\/strong><strong>4<\/strong> <strong>yesterday <\/strong>from 19.49 a day earlier. The currency has now fallen almost 24% against the USD since the devaluation in March and is closing in on the record low of 19.56 set in December 2016, when it overshot against the greenback following that fall\u2019s sharp devaluation. The currency has fallen 1.8% since Hassan Abdalla was appointed to head up the central bank on 18 August.<\/p><p><strong>Expect the EGP to fall against the greenback further amid \u201cexternal and internal pressure,\u201d<\/strong> Geneina said, estimating a plunge of 10% to 15% to reach EGP 22-23 per USD 1. \u201cThis is a difficult phase for Egypt and is close to 2016\u2019s [deval conditions],\u201d he said.<\/p><p><strong>It\u2019s not all a gloomy outlook: <\/strong>A diversification of FX sources through the sought IMF loan, a powerful recovery in the tourism sector and the government\u2019s sale of stakes in major companies would help overcome the crisis, he said.<\/p><p><strong>Africa\u2019s biggest economies jump on the tightening train:<\/strong> The central banks of Nigeria and South Africa are also likely to tighten monetary policy this week to ease spiraling prices, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-09-21\/rate-hikes-to-rule-the-week-in-africa-though-outliers-multiply?sref=mmeFTDW1\">Bloomberg<\/a> reports. The South African Reserve Bank holds its policy meeting later today and Nigeria\u2019s central bank is up tomorrow.<\/p><p><strong>PSA- Clock ticking for <\/strong><strong>ClimaTech Run<\/strong><strong>: <\/strong>Tech entrepreneurs that address climate and environmental issues have until today to apply for the <a href=\"https:\/\/climatechrun.com\/ar\">ClimaTech Run competition<\/a>, which offers startups a top award of USD 100k and the chance to pitch their product at COP27. Ten startups will be shortlisted in October to pitch at the global climate summit in November.<\/p><hr class=\"grey-line\"><p><strong>THE BIG STORY ABROAD-<\/strong><\/p><p><a id=\"tldr-story-02\" class=\"content-anchor\"><\/a> <strong>Fed delivers third successive jumbo rate hike:<\/strong> The Federal Reserve <a href=\"https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220921a.htm\">raised interest rates by<\/a><a href=\"https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20220921a.htm\">75 bps<\/a> for the third successive meeting and indicated that it would continue its aggressive stance in coming meetings as it battles to curb inflation. Fed officials unanimously chose to raise the central bank\u2019s policy rate to a range of 3-3.25% &amp;NoBreak;\u2014 its highest level since January 2008 \u2014 and almost all forecast rates to hit 4-4.5% by the end of the year.<\/p><p><strong>For first time, Powell admits chance of recession: <\/strong>\u201cNo one knows whether this process will lead to a recession or if so, how significant that recession would be,\u201d Fed Chairman Jerome Powell said during his post-meeting presser. \u201cThe chances of a soft landing are likely to diminish\u201d because policy needs to be \u201cmore restrictive or restrictive for longer.\u201d Powell also spoke openly about the need for a \u201ccorrection\u201d in the housing market and warned that rising unemployment in the months ahead would cause \u201cpain.\u201d<\/p><p><strong>Markets got the message:<\/strong> US stocks whipsawed following the announcement, with the S&amp;P 500 climbing as high as 1.3% before crashing back to end the session 1.7% in the red. Yields on US two-years surpassed 4% for the first time since 2007 while another part of the yield curve inverted, an indicator of a coming recession. Oil fell below USD 90 a barrel, the USD hit a fresh two-decade high, and BTC came close to falling below USD 18k for the first time since 2020.<\/p><p><strong>It\u2019s a sea of red in Asia this morning<\/strong>, with the Hang Seng (-2.1%) and the Kospi (-1.4%) leading the declines. The sell-off looks set to continue in Europe and the US later today, according to stock futures.<\/p><p><strong>The story is dominating the front pages of the global business press:<\/strong> <a href=\"https:\/\/apnews.com\/article\/inflation-jackson-wyoming-economy-prices-56ec82b99e24cab74a9ed102848930a3?utm_source=homepage&amp;utm_medium=TopNews&amp;utm_campaign=position_5\">AP<\/a> | <a href=\"https:\/\/www.reuters.com\/markets\/europe\/fed-set-big-rate-hike-waters-get-choppy-worlds-central-banks-2022-09-21\/\">Reuters<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-09-21\/powell-signals-recession-may-be-the-price-for-crushing-inflation?srnd=premium-uk\">Bloomberg<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/fed-raises-interest-rates-by-0-75-percentage-point-for-third-straight-meeting-11663783397\">WSJ<\/a> | <a href=\"https:\/\/www.ft.com\/content\/af12dcb4-bab2-4aa7-8462-2941ca58cd1d\">FT<\/a> | <a href=\"https:\/\/www.cnbc.com\/2022\/09\/21\/fed-rate-hike-september-2022-.html\">CNBC<\/a>.<\/p><p class=\"web-image\"><a href=\"#\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/Enterprise-Climate-Teaser-1600.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p><p><strong>COUNTDOWN TO COP- <\/strong><\/p><p><strong>Climate change remains the most serious existential challenge faced by humanity<\/strong>, President Abdel Fattah El Sisi told a climate roundtable on the sidelines of the UN General Assembly yesterday (<a href=\"https:\/\/www.youtube.com\/watch?v=afXKT7NSGJM\">watch, runtime: 7:25<\/a>). In a pre-recorded speech, the president said that the repercussions of climate change are worsening by the day as temperatures soar globally, noting the recent devastating floods in Pakistan and the forest fires in Europe over the summer. El Sisi reiterated his call for the international community to meet the pledge to provide USD 100 bn in funding every year to help developing countries mitigate and adapt to the effects of climate change.<\/p><p><strong>Denmark<\/strong><strong> just became the rich nation to pledge loss + damage funds to countries in the <\/strong><strong>Global South \u2014 but is it enough? <\/strong>Denmark has earmarked DKK 100 mn (USD 13.3 mn) in loss and damage aid to countries most impacted by climate change, with a focus on Africa\u2019s Sahel region, it said in <a href=\"https:\/\/via.ritzau.dk\/pressemeddelelse\/danmark-giver-100-mio-kr-til-klimatilpasning-og-klimaskabte-tab-og-skader-for-verdens-fattigste?publisherId=2012662&amp;releaseId=13660016\">a statement<\/a>. The move marks the first time a developed nation has offered compensation for the impact of emissions on poorer countries \u2014 but activists say the sum pales in comparison to the real price tag of the damage sustained by developing countries, the <a href=\"https:\/\/www.washingtonpost.com\/climate-environment\/2022\/09\/20\/denmark-climate-change-un-general-assembly\/?itid=hp_Climate%20box\">Washington Post<\/a> writes.<\/p><p><strong>Major Wall Street banks are threatening to ditch Mark Carney\u2019s green alliance: <\/strong>JPMorgan, Morgan Stanley and Bank of America are among those who could pull out of the former Bank of England governor\u2019s Glasgow Financial Alliance for Net Zero (GFANZ) due to what they say are legal risks associated with meeting strict decarbonization rules, the <a href=\"https:\/\/www.ft.com\/content\/0affebaa-c62a-49d1-9b44-b9d27f0b5600\">Financial Times<\/a> reports, citing top execs. \u201cI am close to taking us out of these global green commitments,\u201d one senior exec said. \u201cI\u2019m not going to allow third parties to create legal liabilities for us and our shareholders. It is immoral and irresponsible.\u201d GFANZ seeks to tackle climate change from within the financial system by getting members to decarbonize their combined USD 130 tn in assets.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>     <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>Our friends at HSBC are hosting an energy transition webinar series next <\/strong><strong>Tuesday-Thursday, 27-29 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&amp;src=enterpriseam\">register for the series here<\/a>.<\/p><p><strong>WANT MORE on the region\u2019s energy transition?<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8c61a7c8-07cc-49bb-aad8-c3f819b917c7\">Catch this op-ed in EnterpriseAM<\/a> by HSBC\u2019s Group Head, Center of Sustainable Finance and Head of Climate Change Middle East, North Africa and Turkey, Zoe Knight on to the capital that\u2019s needed to help drive that shift.<\/p><p><strong>A Spanish business delegation will be in town next Tuesday and Wednesday<\/strong> (27-28 September) for the Egypt-Spain Multilateral Partnership Forum, organized by the Spanish Institute for Export and Investment, according to <a href=\"https:\/\/ent.news\/2022\/9\/Press-Release-PRE-EVENTO-en-ingle%CC%81s.pdf\">a press release (pdf)<\/a>. The two-day conference will include seminars and panel discussions on trade and investment in transport, energy, and water with Egyptian ministers and representatives from government bodies, alongside officials from international financing institutions and Spanish Secretary of State for Trade Xiana M\u00e9ndez B\u00e9rtolo. The agenda for the conference is available <a href=\"https:\/\/ent.news\/2022\/9\/Program-Spain-Egypt-Multilateral-Partnership.pdf\">here (pdf)<\/a>.<\/p><p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><div class=\"stand-out\">\n***\n<p><strong>WE\u2019RE LOOKING FOR A SMART, TALENTED HEAD OF PEOPLE<\/strong> to help us develop and deliver a comprehensive people strategy to help grow Enterprise and our sister company, Inktank Communications. Attracting and retaining top talent is the lifeblood of our business \u2014 are you the right person to help us do it?<\/p>\n<p><strong>WHO YOU ARE-<\/strong> Our Head of People is responsible for aligning HR practices with business objectives and works alongside some very smart people, including our C-level and leadership teams, to design and develop HR strategies and monitor their effectiveness. Candidates should have at least 10 years of experience in human resources, with extensive knowledge of key HR disciplines including performance and talent. We are looking for someone who isn\u2019t afraid to challenge, innovate, experiment, and move at a fast pace \u2014 not to mention creating some very cool new things to drive people engagement and improve a high-performance culture.<\/p>\n<p><strong>INTERESTED IN APPLYING?<\/strong> To apply for the Head of People, drop us a line at jobs@enterprisemea.com and mention \u201cNoha\u201d in your subject line \u2014 she\u2019s our outgoing Head of People and the first person who\u2019s going to be reading your application. Please send a solid cover letter telling us a bit about who you are and why you\u2019re a good fit for our team. We want to see your CV, but the most important thing is a cover letter that makes us want to pick up the phone and give you a call.<br>\n***<\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/denmark\/\">Denmark<\/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\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/un\/\">UN<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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=\"549588\" 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=\"549588\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/549588\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549588\" class=\"content-area-description single-story post-549588 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=\"549589\" 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=\"549589\">\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\">ENTERPRISE ON THE ROAD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/there-are-two-ways-forward-for-egypts-ipo-market-says-efg-hermes-investment-banking-boss\/\">\r\n                            There are two ways forward for Egypt\u2019s IPO market, says EFG Hermes investment banking boss                        <\/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\/22\/there-are-two-ways-forward-for-egypts-ipo-market-says-efg-hermes-investment-banking-boss\/\" 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\/22\/there-are-two-ways-forward-for-egypts-ipo-market-says-efg-hermes-investment-banking-boss\/')\">\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\/22\/there-are-two-ways-forward-for-egypts-ipo-market-says-efg-hermes-investment-banking-boss\/\">\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=There are two ways forward for Egypt\u2019s IPO market, says EFG Hermes investment banking boss&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/there-are-two-ways-forward-for-egypts-ipo-market-says-efg-hermes-investment-banking-boss\/\">\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\/22\/there-are-two-ways-forward-for-egypts-ipo-market-says-efg-hermes-investment-banking-boss\/&title=There are two ways forward for Egypt\u2019s IPO market, says EFG Hermes investment banking boss\">\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=There+are+two+ways+forward+for+Egypt%E2%80%99s+IPO+market%2C+says+EFG+Hermes+investment+banking+boss+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F22%2Fthere-are-two-ways-forward-for-egypts-ipo-market-says-efg-hermes-investment-banking-boss%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\/22\/there-are-two-ways-forward-for-egypts-ipo-market-says-efg-hermes-investment-banking-boss\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549589\" class=\"content-area-description single-story post-549589 post type-post status-publish format-standard hentry category-enterprise-on-the-road tag-efg-hermes tag-enterprise-on-the-road tag-enterpriseam tag-ipo-watch tag-mostafa-gad wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>We have a handful of traditions at the EFG Hermes One on One \u2014 one is eating a lot of <\/strong><strong>red meat. Another is checking in with Mostafa Gad <\/strong>for a glimpse into what his crystal ball says about the IPO and M&A outlooks for Egypt in the year ahead. Gad is co-head of investment banking for Egypt at EFG Hermes.<\/p>\n<p><strong>KEY TAKEAWAYS from our conversation <\/strong>in Dubai yesterday:<\/p>\n<ul>\n<li><strong>Policymakers have three paths open to them as they look to <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/43f14454-61c9-4f0d-8232-ab185c5771c6\">get serious about the asset side<\/a><\/strong><strong> of their balance sheet.<\/strong> Two routes lead to IPOs, the third runs through an M&A pathway.<\/li>\n<li><strong>IPO activity could return in 2Q<\/strong> and 3Q 2023. You can safely expect international institutions that invest in public equities to hold back until they feel they have clarity on the foreign exchange regime.<\/li>\n<li><strong>2022 has been a record year for M&A activity <\/strong>and there\u2019s momentum in the market to see this carry through to 2023.<\/li>\n<li><strong>Strategic investors will commit to M&A <\/strong>where public markets folks are holding back from taking a position because strategics can choose to take a longer-term view.<\/li>\n<li><strong>Breathing new life into the stock market just doesn\u2019t help day traders<\/strong> \u2014 it reprices every single corporate asset in Egypt by raising comparables for everyone.<\/li>\n<\/ul>\n<p><strong>In finance, it\u2019s all about pricing. <\/strong>Every consumer loves a good deal \u2014 on a car, a computer or a new pair of shoes. It\u2019s no different for investors. Whether you want to take a position in a company through an initial public offering (IPO) or buy one outright in the private market, it\u2019s all about valuation \u2014 and valuation decisions are benchmarked and priced on the basis of comparables in public markets. That\u2019s finance-nerd-speak for \u201cthe stock exchange.\u201d<\/p>\n<p><strong>That simple fact of life leaves policymakers with two options if they want to go the IPO route<\/strong>, says Gad.<\/p>\n<p><strong>OPTION #1- Look <\/strong><strong>to the<\/strong><strong> example of Abu Dhabi. <\/strong>Regular readers of Enterprise know that Abu Dhabi has transformed itself from a reasonably sleepy IPO backwater into one of the region\u2019s hottest markets (+18.9% year to date) thanks to a run of successful IPOs. How did it pull off the transformation? \u201cThey accepted that less-than-optimal valuations were the price that needed to be paid to revive the market \u2014 that in the early days, it\u2019s worth going to market with IPOs priced even below fair value because the comps in the market are low. Taking attractively priced transactions to market is how you grow your market cap,\u201d Gad says, pointing to the recent IPOs of companies with \u201cgreat fundamentals, great cashflows, and good dividends,\u201d including Adnoc Drilling, Adnoc Distribution, and Fertiglobe.<\/p>\n<p><strong>That approach is paying dividends (forgive the pun): <\/strong>In June, Borouge, a joint venture between Adnoc and Borealis, <a href=\"https:\/\/www.borealisgroup.com\/news\/borouge-successfully-lists-on-adx-in-abu-dhabis-largest-ever-ipo\">became the ADX\u2019s largest-ever IPO<\/a> and the largest-ever petchems listing in MENA, raising USD 2 bn in an offering that was c.42x oversubscribed. Borouge expects to pay a dividend of nearly USD 1 bn for FY 2022 \u2014 and of at least USD 1.3 bn in 2023, good for a 6.5% dividend yield based on the offer price.<\/p>\n<p><strong>OPTION #2- Get highly liquid state institutions to invest in the stock market<\/strong>, including folks managing assets for the pension and social ins. system. \u201cIt\u2019s not altruism for them to invest in the market \u2014 it\u2019s part of their mandate,\u201d Gad notes.<\/p>\n<p><strong>\u201cYou cannot escape the comparables in an IPO,\u201d<\/strong> Gad says. <strong>\u201cThe stock market prices every company in Egypt. Every single Egyptian asset. <\/strong>\u2018Comps\u2019 are the starting point for discussion before you can start arguing for a premium.\u201d<\/p>\n<p><strong>Breathing new life into the EGX will \u201creprice everything from banks to petrochemicals<\/strong>, and not just IPOs \u2014 for private market transactions, too,\u201d Gad says. \u201cLook at Saudi Arabia and the multiples there. It is not that these are vastly better companies. It\u2019s that the benchmark for valuation is much higher because they have a vibrant, effective capital market.\u201d<\/p>\n<p><strong>Wait, Enterprise: You said policymakers had three paths. That\u2019s just two. <\/strong>Correct.<\/p>\n<p><strong>OPTION #3- Sell stakes (or entire companies) on the private market.<\/strong> \u201cIf you sell an asset directly in a private sale to a strategic, the seller has more room in which to talk valuations without reference to comparables in the EGX. There is a very good chance you can get fair value for an asset this way,\u201d Gad suggests. The sale of a large stake now to a strategic investor also leaves the door open to an IPO down the road \u2014 a process that would see the state sell another piece of its holdings at a higher valuation when the market is back.<\/p>\n<p><strong>Regional sovereign funds including Abu Dhabi\u2019s ADQ and Saudi Arabia\u2019s PIF will be big players here<\/strong>, as will ambitious outfits such as <a href=\"https:\/\/www.dpi-llp.com\">DPI<\/a>.<\/p>\n<p><strong>The best route? <\/strong>It depends on objectives, Gad suggests. Do you want to maximize cash in? Private sales to strategics is the way to go. Do you want to revive the market? Play a role in getting it back into shape? Then accept the fact that you\u2019ll be selling a bit below fair value and follow Abu Dhabi\u2019s example by taking good assets to market.<\/p>\n<p><strong>What about the private sector? <\/strong>It generally has the luxury of time on its side when it comes to mulling the timing of an IPO, Gad says: \u201cIt\u2019s easier for them to time transactions because they are not in a rush \u2014 generally speaking, they have cash and they can hold back so they don\u2019t compromise on valuation.\u201d<\/p>\n<p><strong>The next big trigger market watchers are waiting for: Clarity in the foreign exchange regime. <\/strong>\u201cWe need to see the FX overhang addressed so international investors \u2014 who think in USD terms \u2014 can price the assets. And we need to see inflation come down a little bit,\u201d Gad notes.<\/p>\n<p><strong>And remember, friends: We\u2019ve been here before. <\/strong>This moment feels, in capital market terms, similar in many ways to where we were in 2016.<\/p>\n<p><strong>So when could we see a return of activity in the IPO market? <\/strong>Possibly in 2Q or 3Q 2023, Gad says.<\/p>\n<p><strong>THE M&A OUTLOOK IS DIFFERENT<\/strong><\/p>\n<p><strong>\u2026at least if you\u2019re talking about strategic investors.<\/strong> \u201cThey can absorb shorter-term turbulence because they look long-term. Look at ADQ and PIF. Look at <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/72ba8ef5-72b9-4980-95a0-3aad6a31d3c7\">AD Ports\u2019 acquisition of Transmar<\/a>,\u201d Gad says. \u201cAD Ports knows that regional lines are often under-served by major operators in times of turbulence and there is a lot of room for a sharp regional operator such as Transmar to connect Egypt to the GCC and East Africa. Look at <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/be49d19c-306f-4ee9-b6ee-b0dba42a18be\">Agthia and Abu Auf<\/a>. Agthia knows it is a great brand and that the transaction will definitely be accretive on a multi-year timeline.\u201d EFG Hermes was exclusive sell-side advisor in the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/99f85003-cd06-4efe-813f-9d09a33d59d6\">Transmar<\/a> and Abu Auf sales.<\/p>\n<p><strong>The M&A outlook is solid for the rest of this year and heading into 2023. <\/strong>\u201cWe have a healthy pipeline as EFG Hermes and we see there is a lot of M&A momentum in the market. 2022 will be a record year for transaction count in Egypt, and though much of that is being driven by PIF and ADQ, there is a lot of activity and a good pipeline outside of them.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-on-the-road\/\">ENTERPRISE ON THE ROAD<\/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\/mostafa-gad\/\">Mostafa Gad<\/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=\"549590\" 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=\"549590\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/bids-for-alex-medical-arent-adding-up-b-investments-approves-fair-value-study-ahead-of-giza-systems-sale\/\">\r\n                            Bids for Alex Medical aren\u2019t adding up + B Investments approves fair value study ahead of Giza Systems sale                        <\/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\/22\/bids-for-alex-medical-arent-adding-up-b-investments-approves-fair-value-study-ahead-of-giza-systems-sale\/\" 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\/22\/bids-for-alex-medical-arent-adding-up-b-investments-approves-fair-value-study-ahead-of-giza-systems-sale\/')\">\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\/22\/bids-for-alex-medical-arent-adding-up-b-investments-approves-fair-value-study-ahead-of-giza-systems-sale\/\">\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=Bids for Alex Medical aren\u2019t adding up + B Investments approves fair value study ahead of Giza Systems sale&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/bids-for-alex-medical-arent-adding-up-b-investments-approves-fair-value-study-ahead-of-giza-systems-sale\/\">\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\/22\/bids-for-alex-medical-arent-adding-up-b-investments-approves-fair-value-study-ahead-of-giza-systems-sale\/&title=Bids for Alex Medical aren\u2019t adding up + B Investments approves fair value study ahead of Giza Systems sale\">\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=Bids+for+Alex+Medical+aren%E2%80%99t+adding+up+%2B+B+Investments+approves+fair+value+study+ahead+of+Giza+Systems+sale+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F22%2Fbids-for-alex-medical-arent-adding-up-b-investments-approves-fair-value-study-ahead-of-giza-systems-sale%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\/22\/bids-for-alex-medical-arent-adding-up-b-investments-approves-fair-value-study-ahead-of-giza-systems-sale\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/315.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"549591\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/bids-for-alex-medical-arent-adding-up-b-investments-approves-fair-value-study-ahead-of-giza-systems-sale\/315-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/315.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"315.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/315.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/315.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549590\" class=\"content-area-description single-story post-549590 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-alexandria-medical-services tag-b-investments tag-enterpriseam tag-giza-systems tag-healthcare tag-limevest tag-ma-watch tag-saudi-telecom-company tag-tawasol-holdings tag-yas-holding wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>A tale of two fair value studies: <\/strong>Things are not looking up for the Tawasol Holdings-LimeVest consortium\u2019s bid to acquire Alex Medical, as a fair value study from Andersen adds weight to the board\u2019s suggestion that the bid undervalues the company. Meanwhile, B Investments could close the sale of its stake in Giza Systems to a Saudi Telecom subsidiary within weeks, after giving its thumbs up to a fair value study from BDO.<\/p>\n<p><strong>ALEXMED VALUED ABOVE TAWASOL-LIMEVEST OFFER-<\/strong><\/p>\n<p><strong>Andersen values Alex Medical some 8% higher than Tawasol-LimeVest\u2019s acquisition bid:<\/strong> A fair value study has valued Alexandria Medical Services above the two recent offers for the company submitted by the Tawasol Holdings-LimeVest consortium and Yas Holdings, the company said in a <a href=\"https:\/\/ent.news\/2022\/9\/%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2-%D8%A7%D9%84%D8%B7%D8%A8%D9%89-%D8%A7%D9%84%D8%AC%D8%AF%D9%8A%D8%AF-%D9%85%D9%84%D8%AE%D8%B5-%D8%AA%D9%82%D8%B1%D9%8A%D8%B1-%D8%A7%D9%84%D9%82%D9%8A%D9%85%D8%A9-%D8%A7%D9%84%D8%B9%D8%A7%D8%AF%D9%84%D8%A9-%D9%84%D9%84%D8%B3%D9%87%D9%85.pdf\">disclosure (pdf)<\/a> to the bourse. The study, conducted by Alex Medical\u2019s financial advisor Andersen, has put the company\u2019s per-share price EGP 52.80, 7.8% higher than the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/82aaac64-83ee-4f81-ab95-2d6ab5634111\">EGP 49<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/82aaac64-83ee-4f81-ab95-2d6ab5634111\">.00<\/a> offered in Tawasol-LimeVest\u2019s ongoing mandatory tender offer and 8.6% above Yas\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4d4b847e-401a-461e-932f-b5e894e39cf4\">competing bid<\/a> of EGP 48.62 per share. Andersen values the company at EGP 821.8 mn.<\/p>\n<p><strong>Alex Medical\u2019s board has made its views on the Tawasol-LimeVest bid clear: <\/strong>The valuation come a day after the Alex Medical board <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/82aaac64-83ee-4f81-ab95-2d6ab5634111\">signaled a thumbs down<\/a> on the consortium\u2019s bid to acquire up to 74% of the company, saying the offer doesn\u2019t reflect the average share price of the company for the six months preceding the launch of the MTO. The board has yet to discuss the Yas offer, which is pending healthcare-sector specific approvals and the greenlight from the Financial Regulatory Authority.<\/p>\n<p><strong>The Tawasol-LimeVest MTO is ongoing until 27 September.<\/strong> It is unknown how many shareholders have agreed to sell their shares to the consortium. Abu Dhabi Commercial Bank owns a 51.5% stake in Alex Medical and had reportedly been interested in making an exit last year, when more than eight companies (including Tawasol-LimeVest and Yas) joined a bidding war for the company that ultimately ended without a sale. Given ADCB\u2019s board representation, it might not be looking good for the consortium\u2019s bid.<\/p>\n<p><strong>Advisors: <\/strong>Prime Holding are the brokers on the Tawasol-LimeVest offer and Zaki Hashem and Partners are acting as the consortium\u2019s counsel. Al Ahly Pharos is <a href=\"https:\/\/bit.ly\/2RpY0FY\">reportedly<\/a> Yas\u2019 financial advisor on the transaction.<\/p>\n<p><strong>B INVESTMENTS OK\u2019S GIZA SYSTEMS FAIR VALUE STUDY-<\/strong><\/p>\n<p><strong>B Investments approves Giza Systems fair value study ahead of exit: <\/strong>B Investments has given a thumbs up to a <a href=\"https:\/\/ent.news\/2022\/9\/%D8%A8%D9%89-%D8%A7%D9%86%D9%81%D8%B3%D8%AA%D9%85%D9%86%D8%AA%D8%B3-%D8%AF%D8%B1%D8%A7%D8%B3%D8%A9-%D8%A7%D9%84%D9%82%D9%8A%D9%85%D8%A9-%D8%A7%D9%84%D8%B9%D8%A7%D8%AF%D9%84%D8%A9-21-9-2022.pdf\">fair value study (pdf)<\/a> of Giza Systems it commissioned from financial advisor BDO ahead of selling its stake in the company a subsidiary of Saudi Telecom (STC), according to a <a href=\"https:\/\/ent.news\/2022\/9\/%D8%A8%D9%89-%D8%A7%D9%86%D9%81%D8%B3%D8%AA%D9%85%D9%86%D8%AA%D8%B3-%D9%85%D8%AC%D9%84%D8%B3-%D8%A7%D9%86%D8%AC%D9%84%D9%8A%D8%B2%D9%89-21-9-2022.pdf\">statement (pdf)<\/a> to the EGX yesterday. The study puts Giza Systems\u2019 equity value at around EGP 1.8 bn (USD 93 mn), or EGP 202.10 per share.<\/p>\n<p><strong>Close approaching: <\/strong>The final equity value of the transaction will be determined when it closes, which should be within three weeks, B Investments IR head Omar El Labban told Enterprise.<\/p>\n<p><strong>B Investments is making a full exit from Giza Systems<\/strong>, after in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3c5a4fe4-2cf0-4bf2-bc7c-54571f540c99\">April<\/a> accepting an undisclosed binding offer for its 44.7% stake from Solutions by STC. The offer puts an enterprise value (the total worth of the company including debt and cash balance) on Giza Systems of USD 145 mn.<\/p>\n<p><strong>REFRESHER-<\/strong> <strong>Solutions by STC is on course to take an <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/47c3ee87-0c02-4dfb-ba4c-1d3c529a1de9\">89.5% stake in Giza Systems<\/a><\/strong> from SPV Inergia Technologies, in which B Investments is the majority shareholder. Inergia holds a 65.7% stake in Giza Systems (including B Investments\u2019 stake). It\u2019s not known who the other sellers are.<\/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\/alexandria-medical-services\/\">Alexandria Medical Services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/b-investments\/\">B Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/giza-systems\/\">Giza Systems<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/healthcare\/\">healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/limevest\/\">LimeVest<\/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\/saudi-telecom-company\/\">Saudi Telecom Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tawasol-holdings\/\">Tawasol Holdings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/yas-holding\/\">Yas Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549592\" 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=\"549592\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/sodic-kills-bid-for-mnhd\/\">\r\n                            SODIC kills bid for MNHD                        <\/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\/22\/sodic-kills-bid-for-mnhd\/\" 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\/22\/sodic-kills-bid-for-mnhd\/')\">\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\/22\/sodic-kills-bid-for-mnhd\/\">\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=SODIC kills bid for MNHD&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/sodic-kills-bid-for-mnhd\/\">\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\/22\/sodic-kills-bid-for-mnhd\/&title=SODIC kills bid for MNHD\">\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=SODIC+kills+bid+for+MNHD+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F22%2Fsodic-kills-bid-for-mnhd%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\/22\/sodic-kills-bid-for-mnhd\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/316.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"549593\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/sodic-kills-bid-for-mnhd\/316-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/316.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"316.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/316.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/316.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549592\" class=\"content-area-description single-story post-549592 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-enterpriseam tag-ma-watch tag-madinet-masr-for-housing-and-development tag-magued-sherif tag-sodic 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>SODIC is no longer interested in acquiring MNHD: <\/strong>SODIC has called off its takeover bid for Madinet Nasr Housing and Development (MNHD) and is currently reviewing other alternatives, our friend SODIC Managing Director Magued Sherif told <a href=\"https:\/\/www.asharqbusiness.com\/article\/41957\">Bloomberg Asharq<\/a>.<\/p>\n<p><strong>MNHD shareholders <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/150d11b7-904c-40b5-9e94-70166fa31f61\">rejected SODIC\u2019s bid<\/a><\/strong><strong> last month<\/strong>, saying its EGP 6.36 bn valuation was too low. The upmarket developer had offered to pay EGP 3.20-3.40 per share to purchase up to 100% of the company, which the board said did not match its \u201creal value.\u201d<\/p>\n<p><strong>What now for SODIC?<\/strong> SODIC is looking into several alternatives to the MNHD bid, Sherif told the business news site. These include various partnerships or acquiring new land in cooperation with governmental bodies such as New Urban Communities Authority, he said, without disclosing further information.<\/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\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/madinet-masr-for-housing-and-development\/\">Madinet Masr for Housing and Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/magued-sherif\/\">Magued Sherif<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sodic\/\">SODIC<\/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=\"549594\" 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=\"549594\">\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\">Policy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/intellectual-property-authority-to-launch-in-2024-under-new-five-year-ip-strategy\/\">\r\n                            Intellectual Property Authority to launch in 2024 under new five-year IP strategy                        <\/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\/22\/intellectual-property-authority-to-launch-in-2024-under-new-five-year-ip-strategy\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/intellectual-property-authority-to-launch-in-2024-under-new-five-year-ip-strategy\/')\">\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\/22\/intellectual-property-authority-to-launch-in-2024-under-new-five-year-ip-strategy\/\">\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=Intellectual Property Authority to launch in 2024 under new five-year IP strategy&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/intellectual-property-authority-to-launch-in-2024-under-new-five-year-ip-strategy\/\">\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\/22\/intellectual-property-authority-to-launch-in-2024-under-new-five-year-ip-strategy\/&title=Intellectual Property Authority to launch in 2024 under new five-year IP strategy\">\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=Intellectual+Property+Authority+to+launch+in+2024+under+new+five-year+IP+strategy+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F22%2Fintellectual-property-authority-to-launch-in-2024-under-new-five-year-ip-strategy%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\/22\/intellectual-property-authority-to-launch-in-2024-under-new-five-year-ip-strategy\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549594\" class=\"content-area-description single-story post-549594 post type-post status-publish format-standard hentry category-policy tag-enterpriseam tag-intellectual-property tag-national-ip-authority tag-policy 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>The Madbouly government will establish a National Intellectual Property Authority in the <\/strong><strong>coming two years<\/strong> as part of a five-year <a href=\"https:\/\/ent.news\/2022\/9\/Intellectual-Property-Strategy_EN.pdf\">IP strategy (pdf)<\/a>. Launched by Prime Minister Moustafa Madbouly at a ceremony yesterday, the strategy provides a roadmap for putting into place an institutional framework for governing intellectual property rights and streamlining policymaking.<\/p>\n<p><strong>The National IP Authority is at the center of things:<\/strong> Intellectual property governance is currently managed by nine disparate and overlapping government agencies that operate independently of each other under different ministries. From 2024, the IP Authority will step in to coordinate policymaking and work with other areas of government. The strategy will also see policymakers review legislation related to intellectual property, link IP to the country\u2019s sustainable development goals, and raise public awareness about the subject.<\/p>\n<p><strong>We\u2019ve known this was in the works for a while:<\/strong> Madbouly <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/158188ff-65a9-4146-adc1-5f53c1a3f6e5\">announced plans<\/a> to establish the authority earlier this 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\/intellectual-property\/\">intellectual property<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-ip-authority\/\">National IP Authority<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549595\" 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=\"549595\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/taiwanese-a-c-manufacturer-elaraby-to-build-usd-33-mn-factory\/\">\r\n                            Taiwanese A\/C manufacturer, Elaraby to build USD 33 mn factory                        <\/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\/22\/taiwanese-a-c-manufacturer-elaraby-to-build-usd-33-mn-factory\/\" 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\/22\/taiwanese-a-c-manufacturer-elaraby-to-build-usd-33-mn-factory\/')\">\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\/22\/taiwanese-a-c-manufacturer-elaraby-to-build-usd-33-mn-factory\/\">\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=Taiwanese A\/C manufacturer, Elaraby to build USD 33 mn factory&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/taiwanese-a-c-manufacturer-elaraby-to-build-usd-33-mn-factory\/\">\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\/22\/taiwanese-a-c-manufacturer-elaraby-to-build-usd-33-mn-factory\/&title=Taiwanese A\/C manufacturer, Elaraby to build USD 33 mn factory\">\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=Taiwanese+A%2FC+manufacturer%2C+Elaraby+to+build+USD+33+mn+factory+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F22%2Ftaiwanese-a-c-manufacturer-elaraby-to-build-usd-33-mn-factory%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\/22\/taiwanese-a-c-manufacturer-elaraby-to-build-usd-33-mn-factory\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549595\" class=\"content-area-description single-story post-549595 post type-post status-publish format-standard hentry category-investment-watch tag-elaraby-group tag-enterpriseam tag-investment-watch tag-manufacturing tag-rechi tag-taiwan tag-trade-and-supply-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-07\"><\/a> <strong>Taiwanese manufacturer <\/strong><strong><a href=\"https:\/\/www.rechi.com\/eng\/index\">Rechi<\/a><\/strong> <strong>and Elaraby Group will partner to build a USD 33 <\/strong><strong>mn A\/C compressor factory <\/strong>with an eventual annual production capacity of 6 mn units, cabinet said in <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0sJtqbwtTT3BNRkBCYz8pJUW7gtDgPEEMW4NMcsVSbqLtAmnbLfMNrYoxfRhnaETgl?__cft__[0]=AZUtBKxDIhXJkqpkyEBu_IMmAUAuz3_Vl2xThTfX4KVj-CESC6c1DYqmvVAYpFxeo2QGhOGSvBcEjQeSYUElhlsEM5-pukH4kV90eGBT-_qDtxW34Y-xuhn2oJfbYfYwTNp9yLuVC0RuXx3xYhHntXBXpwByctKIn-uiiKLC9VaZeiv76l00WpF3XxABETqLyWUKs6_OdGfRBBjSR_0KN8we&__tn__=%2CO%2CP-R\">a statement<\/a> yesterday. The factory is expected to start production in 2024 with an annual production capacity of 2 mn units. This will rise to 6 mn within five years.<\/p>\n<p><strong>All part of the localization push: <\/strong>Local components will make up 50% of the product in a first stage, with more local parts to be incorporated later, the statement read. Around half of the factory\u2019s output has been earmarked for export to regional and international markets.<\/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\/elaraby-group\/\">Elaraby Group<\/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\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/rechi\/\">Rechi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/taiwan\/\">Taiwan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade-and-supply-ministry\/\">Trade and Supply 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=\"549596\" 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=\"549596\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/local-fintech-investment-startup-exits-raises-usd-1-mn-in-pre-seed-round\/\">\r\n                            Local fintech investment startup Exits raises USD 1 mn in pre-seed round                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/local-fintech-investment-startup-exits-raises-usd-1-mn-in-pre-seed-round\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/local-fintech-investment-startup-exits-raises-usd-1-mn-in-pre-seed-round\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/local-fintech-investment-startup-exits-raises-usd-1-mn-in-pre-seed-round\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Local fintech investment startup Exits raises USD 1 mn in pre-seed round&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/local-fintech-investment-startup-exits-raises-usd-1-mn-in-pre-seed-round\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/local-fintech-investment-startup-exits-raises-usd-1-mn-in-pre-seed-round\/&title=Local fintech investment startup Exits raises USD 1 mn in pre-seed round\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Local+fintech+investment+startup+Exits+raises+USD+1+mn+in+pre-seed+round+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F22%2Flocal-fintech-investment-startup-exits-raises-usd-1-mn-in-pre-seed-round%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/local-fintech-investment-startup-exits-raises-usd-1-mn-in-pre-seed-round\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/319.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"549597\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/local-fintech-investment-startup-exits-raises-usd-1-mn-in-pre-seed-round\/319-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/319.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"319.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/319.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/319.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549596\" class=\"content-area-description single-story post-549596 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam tag-exits tag-startup-watch tag-startups wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.d1649603-58c9-4d93-bd65-54dabad59435.mp3\"><\/audio><\/figure>\n<p><strong>Local fintech investment platform <\/strong><strong><a href=\"https:\/\/exits.me\/\">Exits<\/a><\/strong><strong> has raised USD 1 mn in a pre-seed r<\/strong><strong>ound <\/strong>from its UK-based investment arm of the same name, as well as Baseeta Investments Holding and Mawelni Holding, the startup said in <a href=\"https:\/\/ent.news\/2022\/9\/EXITS.ME-RAISES-1-MILLION-IN-PRE-SEED-ROUND-EV.-PR.pdf\">a press release (pdf)<\/a>. Exits will use the capital to help it switch from its current beta website to a bigger platform, co-founder Ahella El Saban (<a href=\"https:\/\/www.linkedin.com\/in\/ahella888\/\">LinkedIn<\/a>) told Enterprise.<\/p>\n<p><strong>British investment arm?<\/strong> UK-based Exits \u201cis a company that has been created in the UK to house our Egyptian angel investors all in one place and it will only invest in Exits.me,\u201d company co-founder Mohamed Aboulnaga told us. It\u2019s also unclear who is behind Baseeta and Mawelni: We were unable to find any record of these companies online.<\/p>\n<p><strong>About Exits: <\/strong>Founded earlier this year by El Saban, Aboulnaga (<a href=\"https:\/\/www.linkedin.com\/in\/nagaty\/\">LinkedIn<\/a>), and Ayman El Tanbouly (<a href=\"https:\/\/www.linkedin.com\/in\/ayman-el-tanbouly-91a291110\/\">LinkedIn<\/a>), the company offers investment banking and M&A services for startups and SMEs across MENA, both through its online investment marketplace and offline. Aboulnaga also this year launched Cairo-based M&A advisory outfit <a href=\"https:\/\/pie.consulting\/#exits-mena\">Pie Consulting<\/a>, which <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/00603e3e-a806-4507-8732-0ee293997ffc\">acquired Exits<\/a> for an undisclosed sum in April.<\/p>\n<p><strong>What they said: <\/strong>\u201cStartups and SMEs are severely overlooked when it comes to investment banking services from traditional investment banking entities, who offer either a too high retainer for them to afford or they don\u2019t look at them because of their small size,\u201d El Saban said. \u201cWe want Exits to be the go-to investment marketplace in MENA for any type of investment and for anyone that wants to invest regardless of their background.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/exits\/\">Exits<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549598\" 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=\"549598\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">Kudos<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/gem-gets-building-award-cib-visa-honor-women-entrepreneurs\/\">\r\n                            GEM gets building award. CIB + Visa honor women entrepreneurs                        <\/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\/22\/gem-gets-building-award-cib-visa-honor-women-entrepreneurs\/\" 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\/22\/gem-gets-building-award-cib-visa-honor-women-entrepreneurs\/')\">\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\/22\/gem-gets-building-award-cib-visa-honor-women-entrepreneurs\/\">\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=GEM gets building award. CIB + Visa honor women entrepreneurs&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/gem-gets-building-award-cib-visa-honor-women-entrepreneurs\/\">\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\/22\/gem-gets-building-award-cib-visa-honor-women-entrepreneurs\/&title=GEM gets building award. CIB + Visa honor women entrepreneurs\">\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=GEM+gets+building+award.+CIB+%2B+Visa+honor+women+entrepreneurs+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F22%2Fgem-gets-building-award-cib-visa-honor-women-entrepreneurs%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\/22\/gem-gets-building-award-cib-visa-honor-women-entrepreneurs\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549598\" class=\"content-area-description single-story post-549598 post type-post status-publish format-standard hentry category-kudos tag-awards tag-cib tag-enterpriseam tag-entrepreneurship tag-grand-egyptian-museum tag-kudos tag-visa wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The Grand Egyptian Museum received a \u201cGreen Building Award\u201d<\/strong> from the Arab Water Council at the government\u2019s Environment and Development Forum earlier this month, state news agency MENA reported.<\/p>\n<p><strong>CIB and Visa honoured women entrepreneurs<\/strong> in the first edition of the payments company\u2019s <a href=\"https:\/\/eg.visamiddleeast.com\/en_EG\/run-your-business\/she-is-next-campaign.html\">She\u2019s Next grant program<\/a>, according to <a href=\"https:\/\/ent.news\/2022\/9\/CIB-She-is-Next-AR.pdf\">a press release (pdf)<\/a>. Five entrepreneurs were chosen from over 150 applications, receiving a USD 10k grant and a year of business coaching from <a href=\"https:\/\/ifundwomen.com\/\">IFundWomen<\/a>.<\/p>\n<p><strong>Who was recognized?<\/strong><\/p>\n<ul>\n<li>Maryam El Masry (<a href=\"https:\/\/www.linkedin.com\/in\/maryam-elmasry-b3979917a\/\">LinkedIn<\/a>), founder of healthy food company <a href=\"https:\/\/www.ghegypt.com\/\">Gre<\/a><a href=\"https:\/\/www.ghegypt.com\/\">en House<\/a>;<\/li>\n<li>Heba Abou El Eid (<a href=\"https:\/\/eg.linkedin.com\/in\/heba-abou-el-eid-4b71132a\">LinkedIn<\/a>), founder and CEO of <a href=\"https:\/\/themommyclub.com\/\">The Mommy Club<\/a>;<\/li>\n<li>Rania Salah (<a href=\"https:\/\/www.linkedin.com\/in\/rania-salah-seddik-8747a511\">LinkedIn<\/a>), founder and managing director of social enterprise <a href=\"https:\/\/gebraa.com\/\">GebRaa<\/a>;<\/li>\n<li>Samira Negm (<a href=\"https:\/\/www.linkedin.com\/in\/samiranegm\/\">LinkedIn<\/a>), CEO and co-founder of carpooling app <a href=\"https:\/\/www.raye7.com\/\">Raye7<\/a>;<\/li>\n<li>Laila Hassaballa (<a href=\"https:\/\/www.linkedin.com\/in\/laila-hassaballa-5662a221\/\">LinkedIn<\/a>) and Mariam Nezar (<a href=\"https:\/\/www.linkedin.com\/in\/mariamnezar\">LinkedIn<\/a>) of food tour company <a href=\"https:\/\/belliesenroute.com\/\">Bellies En Route<\/a><\/li>\n<\/ul>\n<p><em>EDITOR\u2019S NOTE- This story was amended on 22 September, 2022 to correct the name of Bellies En Route co-founder Mariam Nezar. An earlier version of this story incorrectly said her name is Mariam El Nahas.<\/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\/awards\/\">awards<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/entrepreneurship\/\">entrepreneurship<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/grand-egyptian-museum\/\">Grand Egyptian Museum<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kudos\/\">KUDOS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/visa\/\">Visa<\/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=\"549599\" 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=\"549599\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/549599\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549599\" class=\"content-area-description single-story post-549599 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=\"549600\" 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=\"549600\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/anticipation-ahead-of-mpc-meeting-gold-deposits-at-banks\/\">\r\n                            Anticipation ahead of MPC meeting + gold deposits at banks?                        <\/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\/22\/anticipation-ahead-of-mpc-meeting-gold-deposits-at-banks\/\" 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\/22\/anticipation-ahead-of-mpc-meeting-gold-deposits-at-banks\/')\">\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\/22\/anticipation-ahead-of-mpc-meeting-gold-deposits-at-banks\/\">\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=Anticipation ahead of MPC meeting + gold deposits at banks?&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/anticipation-ahead-of-mpc-meeting-gold-deposits-at-banks\/\">\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\/22\/anticipation-ahead-of-mpc-meeting-gold-deposits-at-banks\/&title=Anticipation ahead of MPC meeting + gold deposits at banks?\">\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=Anticipation+ahead+of+MPC+meeting+%2B+gold+deposits+at+banks%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F22%2Fanticipation-ahead-of-mpc-meeting-gold-deposits-at-banks%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\/22\/anticipation-ahead-of-mpc-meeting-gold-deposits-at-banks\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549600\" class=\"content-area-description single-story post-549600 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-ahmed-abo-hashima tag-central-bank-of-egypt tag-egp tag-enterpriseam tag-gold tag-interest-rates tag-last-nights-talk-shows wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It was something of a slow night on the airwaves last night<\/strong>, with talking heads focusing on the Federal Reserve\u2019s latest interest rate hike and how it would impact our central bank\u2019s decision when its monetary policy committee meets today to decide on interest rates.<\/p>\n<p><strong>Some want the CBE to keep rates unchanged:<\/strong> Bassim Youssef, a member of the Federation of Egyptian Industries (FEI), told Salet El Tahrir (<a href=\"https:\/\/www.youtube.com\/watch?v=yRZol3vv45k\">watch, runtime: 13:56<\/a>) that he believes that keeping rates steady would be a better alternative to raising rates. \u201cWe need to find other ways to obtain USD,\u201d Youssef said, stressing the necessity of resolving the USD shortage to release shipments stuck at ports. Banking expert Sahar El Damaty told Yahduth Fi Masr (<a href=\"https:\/\/www.youtube.com\/watch?v=ifisv9eAcqY\">watch, runtime: 6:38<\/a>) that she expects the EGP to weaken further against the USD in the coming weeks.<\/p>\n<p><strong>Gold deposits at banks?<\/strong> Businessman Ahmed Abo Hashima told Yahduth Fi Masr\u2019s Sherif Amer (<a href=\"https:\/\/www.youtube.com\/watch?v=4SCaX-Ripks\">watch, runtime: 3:54<\/a>) that he wants the public to be able to deposit gold in banks and earn interest, a move he said would help bring prices down and strengthen the EGP against the greenback.<\/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\/ahmed-abo-hashima\/\">Ahmed Abo Hashima<\/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\/egp\/\">EGP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gold\/\">gold<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n          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class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-djsf8qx\" data-v=\"4\" data-block-id=\"djsf8qx\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-djsf8qx-container stk--no-background 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alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" 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  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\/22\/the-bjork-of-food\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549602\" class=\"content-area-description single-story post-549602 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-enterpriseam tag-food tag-human-rights tag-laila-gohar wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>\u201cThe Bj\u00f6rk of food:\u201d<\/strong> Egyptian artist, chef, and designer <a href=\"https:\/\/lailagohar.com\/\">Laila Gohar<\/a> gets a profile in the <a href=\"https:\/\/www.newyorker.com\/magazine\/2022\/09\/26\/laila-gohars-exquisite-taste\">New Yorker<\/a>.<\/p>\n<p><strong>ALSO- Egypt\u2019s national human rights strategy<\/strong> again comes under criticism in a <a href=\"https:\/\/www.amnesty.org\/en\/documents\/mde12\/6014\/2022\/en\/\">report<\/a>from Amnesty International ahead of COP27, which accuses the government of covering up rights violations. (<a href=\"https:\/\/apnews.com\/article\/middle-east-africa-egypt-london-686ab05a3361982341370edeb74df7d3\">Associated Press<\/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\/food\/\">food<\/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\/laila-gohar\/\">Laila Gohar<\/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=\"549603\" 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=\"549603\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/expedition-investments-consortium-completes-domty-acquisition\/\">\r\n                            Expedition Investments consortium completes Domty acquisition                        <\/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\/22\/expedition-investments-consortium-completes-domty-acquisition\/\" 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\/22\/expedition-investments-consortium-completes-domty-acquisition\/')\">\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\/22\/expedition-investments-consortium-completes-domty-acquisition\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Expedition Investments consortium completes Domty acquisition&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/expedition-investments-consortium-completes-domty-acquisition\/\">\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\/22\/expedition-investments-consortium-completes-domty-acquisition\/&title=Expedition Investments consortium completes Domty acquisition\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Expedition+Investments+consortium+completes+Domty+acquisition+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F22%2Fexpedition-investments-consortium-completes-domty-acquisition%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\/22\/expedition-investments-consortium-completes-domty-acquisition\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549603\" class=\"content-area-description single-story post-549603 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-cfc-group tag-domty tag-enterpriseam tag-expedition-investments tag-fertilizers tag-ma-watch tag-nahdet-misr-for-environmental-services tag-waste-management wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Domty acquisition finalized: <\/strong>A consortium of investors led by Expedition Investments received a 32.9% stake (93.0 mn shares) for EGP 511.6 mn, according to <a href=\"https:\/\/ent.news\/2022\/9\/DOMTY-EGX-.jpg\">a notice<\/a> on the EGX yesterday. Their mandatory tender offer for up to 34% of the cheesemaker closed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4317347c-adb2-46dc-8b8e-305cd02f3a3e\">last week<\/a>.<\/p>\n<p><strong>CFC Group <\/strong><strong>project<\/strong><strong> gets cabinet approval:<\/strong> Cabinet approved setting up a freezone for CFC Group\u2019s proposed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d4a71383-920c-4343-b424-81c95ba095f0\">USD 400 mn fertilizer complex<\/a>in Qena Governorate during its weekly meeting yesterday, according to <a href=\"https:\/\/bit.ly\/3BrflkY\">a statement<\/a>. The Emirati company will establish the facility in Al Haw industrial zone, producing 200k tons of fertilizers, 400k tons of animal feed and 700k tons of phosphoric acid each year.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>The Local Development Ministry <\/strong>will spend<strong> EGP 1.2 bn<\/strong> to convert nearly 2.3k <strong>buses<\/strong> to run on natural gas instead of diesel. (<a href=\"https:\/\/mld.gov.eg\/ar\/news\/details\/38532\">Statement<\/a>)<\/li>\n<li><strong>Arab Contractors<\/strong> affiliate <strong><a href=\"https:\/\/nahdetmisr.com.eg\/index.php\/en\/\">Nahdet Misr for Environmental Services<\/a><\/strong> will implement a <strong>new waste system<\/strong> in <strong>Alexandria Governorate.<\/strong> (<a href=\"https:\/\/bit.ly\/3BxbCSR\">Statement<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cfc-group\/\">CFC Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/domty\/\">Domty<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/expedition-investments\/\">Expedition Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fertilizers\/\">fertilizers<\/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\/nahdet-misr-for-environmental-services\/\">Nahdet Misr for Environmental Services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/waste-management\/\">waste management<\/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=\"549604\" 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=\"549604\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/lots-of-mideast-ma\/\">\r\n                            Lots of Mideast M&#038;A                        <\/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\/22\/lots-of-mideast-ma\/\" 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\/22\/lots-of-mideast-ma\/')\">\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\/22\/lots-of-mideast-ma\/\">\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=Lots of Mideast M&#038;A&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/lots-of-mideast-ma\/\">\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\/22\/lots-of-mideast-ma\/&title=Lots of Mideast M&#038;A\">\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=Lots+of+Mideast+M%26%23038%3BA+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F22%2Flots-of-mideast-ma%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\/22\/lots-of-mideast-ma\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549604\" class=\"content-area-description single-story post-549604 post type-post status-publish format-standard hentry category-planet-finance tag-adnoc tag-commodities tag-energy tag-enterpriseam tag-financial-markets tag-germany tag-gunvor tag-ihc tag-ma-watch tag-planet-finance tag-uae tag-uniper wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>There is plenty of M&amp;A news out of the region this morning:<\/strong><\/p><ul>\n<li>Emirati firm <strong>International Holdings Co.<\/strong> is offering to pay up to <strong>USD 2.15 bn<\/strong> for <strong>25-31.25%<\/strong> of Colombian foodmaker <strong>Nutresa<\/strong>, as it <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f9fc570-87a6-4919-89b6-70c1b5052dff\">looks to invest<\/a> bns of USD in emerging markets. (<a href=\"https:\/\/ent.news\/2022\/9\/Notification-from-International-Holding-Company-PJSC-21.09.22.pdf\">Disclosure, pdf<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-09-21\/abu-dhabi-s-ihc-bids-for-2-billlion-stake-in-colombia-s-nutresa?sref=mmeFTDW1\">Bloomberg<\/a>)<\/li>\n<li>Abu Dhabi energy giant <strong>Adnoc<\/strong> is in early talks to acquire all or part of energy trader <strong>Gunvor<\/strong>. Gunvor is one of the world\u2019s largest traders of crude and oil products, and has a large footprint in the global LNG trade. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-09-21\/uae-s-adnoc-is-said-to-consider-bid-for-oil-trader-gunvor?srnd=premium-middle-east\">Bloomberg<\/a>)<\/li>\n<\/ul><p><strong>And a little further afield: Schneider Electric<\/strong> is acquiring 100% of IT consultant <strong>Aveva Group<\/strong>, buying out its minority shareholders in a GBP 9.5 bn (USD 10.8 bn) transaction. Schneider will pay GBP 31.00 a share, a 41% premium to Aveva\u2019s trading price before news of the sale broke. (<a href=\"https:\/\/ent.news\/2022\/9\/release-schneider-confirms-intention-to-buy-aveva.pdf\">Statement, pdf<\/a> | <a href=\"https:\/\/www.reuters.com\/markets\/europe\/frances-schneider-buy-remaining-aveva-shares-31-poundsshare-offer-2022-09-21\/\">Reuters<\/a>)<\/p><p><strong>ALSO- Germany is spending EUR 8 bn to nationalize struggling gas giant Unipe<\/strong>r in a move that could help shield Europe\u2019s largest economy from blackouts and rationing in the winter. The country\u2019s largest gas importer suffered a EUR 12 bn loss in 1H 2022 on soaring gas prices after Russia <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ab0c5271-87e4-4c73-827d-aeeb13c19a36\">limited flows<\/a> to Europe, and losses are expected to exceed EUR 18 bn by the end of the year. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-09-21\/germany-nationalizes-gas-giant-to-avert-winter-energy-collapse?srnd=premium-middle-east\">Bloomberg<\/a>)<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-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>9,956<\/p>\n<\/td>\n<td>\n<p>-0.6% (YTD: -16.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (C<\/strong><strong>B<\/strong><strong>E)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 19.43<\/p>\n<\/td>\n<td>\n<p>Sell 19.54<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 19.46<\/p>\n<\/td>\n<td>\n<p>Sell 19.52<\/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>11,461<\/p>\n<\/td>\n<td>\n<p>-0.4% (YTD: +1.6%)<\/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>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>10,094<\/p>\n<\/td>\n<td>\n<p>-0.4% (YTD: +18.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,461<\/p>\n<\/td>\n<td>\n<p>-1.1% (YTD: +8.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>3,790<\/p>\n<\/td>\n<td>\n<p>-1.7% (YTD: -20.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,238<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: -2.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td>\n<p>3,492<\/p>\n<\/td>\n<td>\n<p>+0.7% (YTD: -18.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 89.83<\/p>\n<\/td>\n<td>\n<p>-0.9%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 7.76<\/p>\n<\/td>\n<td>\n<p>+0.6%<\/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>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,682.30<\/p>\n<\/td>\n<td>\n<p>+0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 18,315<\/p>\n<\/td>\n<td>\n<p>-3.3% (YTD: -60.0%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 fell 0.55% at yesterday\u2019s close<\/strong> on turnover of EGP 999.8 mn (4.9% above the 90-day average). International investors were net buyers. The index is down 16.7% YTD.<\/p><p><strong>In the green: <\/strong>Alexandria Containers (+1.7%), CIB (+1.2%) and e-Finance (+0.9%).<\/p><p><strong>In the red: <\/strong>Madinet Nasr for Housing and Development (-6.9%), Fawry (-6.1%) and Rameda (-2.8%).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/adnoc\/\">ADNOC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/gunvor\/\">Gunvor<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ihc\/\">IHC<\/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\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uniper\/\">Uniper<\/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=\"549605\" 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=\"549605\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/shoukry-talks-food-energy-with-world-leaders-in-new-york\/\">\r\n                            Shoukry talks food + energy with world leaders in New York                        <\/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\/22\/shoukry-talks-food-energy-with-world-leaders-in-new-york\/\" 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\/22\/shoukry-talks-food-energy-with-world-leaders-in-new-york\/')\">\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\/22\/shoukry-talks-food-energy-with-world-leaders-in-new-york\/\">\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=Shoukry talks food + energy with world leaders in New York&url=https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/shoukry-talks-food-energy-with-world-leaders-in-new-york\/\">\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\/22\/shoukry-talks-food-energy-with-world-leaders-in-new-york\/&title=Shoukry talks food + energy with world leaders in New York\">\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=Shoukry+talks+food+%2B+energy+with+world+leaders+in+New+York+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F09%2F22%2Fshoukry-talks-food-energy-with-world-leaders-in-new-york%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\/22\/shoukry-talks-food-energy-with-world-leaders-in-new-york\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549605\" class=\"content-area-description single-story post-549605 post type-post status-publish format-standard hentry category-diplomacy tag-climate tag-diplomacy tag-emmanuel-macron tag-enterpriseam tag-hungary tag-sameh-shoukry tag-un wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Foreign Minister Sameh Shoukry emphasized Egypt\u2019s efforts to export more natural gas to Europe amid the global en<\/strong><strong>ergy crisis <\/strong>during a dinner with world leaders hosted by French President Emmanuel Macron on the sidelines of the UN General Assembly in New York, according to a cabinet <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02kaU3AxAuFnj9nWL8Y2yjam4R3U4mXccuieJEUvXbUxn5vm6UR5xvxFhLK3f5MopSl\">statement<\/a>. Shoukry also talked about the impact of high food and energy prices on emerging markets during the dinner, which he attended on behalf of President Abdel Fattah El Sisi.<\/p>\n<p><strong>Also on Shoukry\u2019s agenda:<\/strong> The foreign minister <a href=\"https:\/\/bit.ly\/3R2qMFm\">attended<\/a> UN and African climate talks, and held meetings with EU foreign policy chief <a href=\"https:\/\/bit.ly\/3DJn6FQ\">Josep Borrell<\/a> and Hungarian Foreign Affairs and Trade Minister <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/pfbid0haiS2xvjVV91A1nF3wkyBzDEn2yELJqQtHWmiCJyScEowE7ReAGggZMb9txwz47Gl\">P\u00e9ter Szijj\u00e1rt\u00f3<\/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\/climate\/\">Climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emmanuel-macron\/\">Emmanuel Macron<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hungary\/\">Hungary<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sameh-shoukry\/\">Sameh Shoukry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/un\/\">UN<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549606\" 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=\"549606\">\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\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/my-morning-routine-malak-shenouda-head-of-arts-and-events-at-aldau-development\/\">\r\n                            My Morning Routine: Malak Shenouda, head of arts and events at AlDau Development                        <\/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\/22\/my-morning-routine-malak-shenouda-head-of-arts-and-events-at-aldau-development\/\" 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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Speaking to us this week is Malak Shenouda, head of art and events at AlDau Development (<a href=\"https:\/\/eg.linkedin.com\/in\/malak-shenouda-97ab4222a\">LinkedIn<\/a>). Edited excerpts from our conversation:<\/p>\n<p><strong>My name is Malak Shenouda, and I am a cultural producer \/ practitioner.<\/strong> I\u2019m currently the Head of Art and Events at <a href=\"https:\/\/aldaudevelopment.secure.force.com\/\">AlDau Development<\/a>. I\u2019ve recently established within the holding company an art subsidiary, ADD Art. My responsibility is to ensure that, through ongoing art-related initiatives, we add value through art to our properties, clients, company, local art scene, and community.<\/p>\n<p><strong>ADD Art came about because AlDau Chairman, Bassel Sami Saad, is a great admirer and supporter of art.<\/strong> He decided to take that interest to a more professional level and establish ADD Art, within the existing corporate structure of ALDAU Development. This is groundbreaking for the local art scene. Internationally, many big brands and banks have established art departments with the aim of playing an active role in the art scene, and offer their different facilities as a resource to artists. This is the first time in Egypt where a private entity doesn\u2019t just support art through sponsoring an exhibition or buying an artwork. By establishing ADD Art, ALDAU Development is offering the numerous hotels and establishments it owns, to host artworks, artist retreats, exhibitions, cultural events, collaborative projects and more.<\/p>\n<p><strong>The worlds of art and hospitality are intersecting more and more.<\/strong> Worldwide, and recently in Egypt as well, restaurants and hotels have realized the huge importance that art plays in the creation of a successful guest experience. Our age is a very visual one that constantly seeks attractive moments and monuments to enjoy or post about. Mass-produced decorative items are being replaced by more valuable artworks by young or established artists. Iconic artworks are transforming the visual identity of the spaces as well as the brand image, and artists are having an ever-expanding platform to showcase their art after having been limited to white-cube gallery spaces for years.<\/p>\n<p><strong>I only joined ALDAU Development around 3 months ago so I look forward to growing here and establishing something solid<\/strong> that will truly have an impact on the company as well as the art-scene. I feel like the possibilities are endless when it comes to art and hospitality and I already have a couple of exciting projects in the pipeline.<\/p>\n<p><strong>I wake up and head directly to the office.<\/strong> Upon arrival I have my cup of coffee while I do some readings, including Enterprise and the Art newspaper. Once I\u2019m all caught up on what\u2019s happening in Egypt and the art world, I get on to my to-do list.<\/p>\n<p><strong>I start the day by reading the emails I received and prioritize them in order of urgency and importance<\/strong>, then do follow-ups on any pending things I have on my to do list. After that I might have internal meetings, or do calls headhunting for artists for upcoming projects, developing project proposals and pitches for the different hotels, finalizing any upcoming event logistics. It is important for us to have an on-going calendar that maintains consistency.<\/p>\n<p><strong>I went to a German school so organization is part of my DNA.<\/strong> The number of analog and digital to-do lists, reminders, and sheets that I keep to track the progress of my tasks is ridiculous. This is hard to adapt in an industry like art, that is very casual and informal, but over the years I\u2019ve learned to adapt my system to that type of work. Even though it\u2019s quite uncommon, I have found that artists do appreciate the organized and professional approach.<\/p>\n<p><strong>When you work in a field you love, and on projects that are very exciting for you, it\u2019s very difficult to establish limits.<\/strong> After failing to do that for several years and being affected on a personal level, I now take a daily conscious decision to disconnect once I leave the office, and just write any thoughts that pop into my mind later, so that I can remember to deal with them the next day.<\/p>\n<p><strong>One of the constants in my day now is winding down and relaxing at the end of the day and doing something I enjoy<\/strong> \u2014 even for 15 minutes before the day ends to be able to face the next day with new energy. I also like to switch off by reading art books that include essays by scholars in the field, watching TV shows, attending exhibition openings or open-studios, and catching up with my family and friends.<\/p>\n<p><strong>I\u2019ve recently come across a local bookstore that sells incredible art books.<\/strong> My favorite find is <a href=\"https:\/\/www.amazon.com\/New-Vision-Arab-Contemporary-Art\/dp\/0500976988\">New Vision: Arab Contemporary Art in the 21st Century<\/a>. I\u2019ve been looking for it for a while because it is such an important resource that creates a proper framework and academic discourse for regional art, that I think everyone should read.<\/p>\n<p><strong>The best piece of advice I\u2019ve received is as long as you do something you love, and you do your absolute best at it, it\u2019s very unlikely that you will fail<\/strong>, regardless of any obstacles. Hard work and perseverance prevail.<\/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\/add-art\/\">ADD Art<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/malak-shenouda\/\">Malak Shenouda<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/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=\"549608\" 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\/22\/549608\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549608\" class=\"content-area-description single-story post-549608 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<div class=\"story__body\">\n<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>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>25-29 September (Sunday-Thursday) FRANEGYPT will hold its <a href=\"https:\/\/bit.ly\/3eVy8NC\">first virtual expo<\/a> on franchises in the country.<\/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>27-28 September (Tuesday-Wednesday): Egypt-Spain Multilateral Partnership Forum, Sofitel Gezira, Cairo, Egypt.<\/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): 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>10-14 October (Monday-Friday): Gitex Global, Dubai International Convention and Exhibition Centre, Dubai, UAE.<\/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>27-30 October (Thursday-Sunday): <a href=\"https:\/\/cairoict.com\/\">Cairo ICT<\/a>, Egypt International Exhibition Center, New Cairo.<\/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>3 December (Saturday): Dior Men\u2019s pre-fall collection show in Giza.<\/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): Use of Nafeza <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/381373340699759\">becomes compulsory<\/a> for air freight.<\/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<\/div>\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":549586,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-549585","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"c9a41f76-e2fd-4d26-abbc-9a5424b7a9bc","teaser":"","photo_url":"https:\/\/ent.news\/2022\/9\/34.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>Central Bank of Egypt to decide on interest rates following huge Fed rate hike - 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\/central-bank-of-egypt-to-decide-on-interest-rates-following-huge-fed-rate-hike\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Central Bank of Egypt to decide on interest rates following huge Fed rate hike\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/central-bank-of-egypt-to-decide-on-interest-rates-following-huge-fed-rate-hike\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T22:41:52+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\/34.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\/central-bank-of-egypt-to-decide-on-interest-rates-following-huge-fed-rate-hike\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/central-bank-of-egypt-to-decide-on-interest-rates-following-huge-fed-rate-hike\/\",\"name\":\"Central Bank of Egypt to decide on interest rates following huge Fed rate hike - 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