{"id":549976,"date":"2022-10-10T03:21:52","date_gmt":"2022-10-10T03:21:52","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=549976"},"modified":"2025-12-15T22:51:05","modified_gmt":"2025-12-15T22:51:05","slug":"supply-minister-calls-on-house-to-discuss-proposals-for-bread-subsidy-reform","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/supply-minister-calls-on-house-to-discuss-proposals-for-bread-subsidy-reform\/","title":{"rendered":"Supply Minister calls on House to discuss proposals for bread subsidy reform"},"content":{"rendered":"<section id=\"549978\" 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=\"549978\">\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\/10\/10\/this-morning-its-inflation-day-egx-plans-october-investment-roadshow-in-the-gulf\/\">\r\n                            THIS MORNING: It\u2019s inflation day + EGX plans October investment roadshow in the Gulf                        <\/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\/10\/10\/this-morning-its-inflation-day-egx-plans-october-investment-roadshow-in-the-gulf\/\" 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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September inflation figures are due out today and the Senate will be discussing key legislation meant to power up our electric vehicle industry.<\/p><p><strong>THE BIG STORY here at home: The Supply Minister is breaking a months-long silence on <\/strong><strong>bread subsidy reform.<\/strong> Supply Minister Ali El Moselhy is calling on MPs to form a committee to discuss ways to target the country\u2019s gargantuan subsidy program more effectively and cut what we pay to import wheat. Subsidy reform \u2014 traditionally a \u201cthird rail\u201d of Egyptian public policy \u2014 has been a no-go area for years, but is back in the spotlight as more households are squeezed by the rising cost of living.<\/p><p><strong>HAPPENING TODAY-<\/strong><\/p><p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>The EGX is looking to drum up interest<\/strong><strong> in <\/strong><strong>listed companies on a roadshow <\/strong><strong>to Dubai and Abu Dhabi later this month<\/strong>, an EGX source told Enterprise. The bourse has tapped Al Ahly Pharos to help manage the roadshow, with EGX boss Rami El Dokany set to meet with as many as 100 regional and international financial institutions, the source said.<\/p><p><strong>It\u2019s inflation day:<\/strong> Capmas and the Central Bank of Egypt are set to release inflation figures for September today. Analysts are expecting inflation to have continued rising in September due to the weakening EGP after reaching highs not seen since November 2018 <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/87690684-aec3-44e4-94d0-51c47f28e208\">in August<\/a>.<\/p><p><strong>ALSO- A green Monday for the Senate:<\/strong> The Senate will discuss legislation today that could set up a new regulatory body to set policies to localize the auto industry, including electric vehicles (EV). Enterprise Climate last week <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/d8c44e38-2cea-4dc5-ba60-de5aac32a3fa\">reported<\/a> in depth on the bill, which would also set up a fund to provide financing and incentives to investors looking to get in on local EV assembly in Egypt.<\/p><p><strong>The Senate will also discuss amendments to the Environment Act<\/strong> that would see a \u201cgreen fee\u201d of between EGP 1k and EGP 50k levied on new diesel and gas vehicles. As the bill currently stands, some 80% of the proceeds would go towards localizing our climate-friendly vehicle industry, with the rest to be split between the Environment` Protection Fund and the state budget.<\/p><p><strong>CATCH UP QUICK- <\/strong>The government\u2019s automotive committee held its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/356d0c3f-33bf-4b21-9d07-b14283bebeb3\">first meeting last month<\/a>, inching us closer to the long-awaited automotive strategy.<\/p><p><strong>** CORRECTION- <\/strong>In yesterday\u2019s editions of EnterpriseAM and EnterprisePM, we incorrectly reported that the \u201cgreen fee\u201d would be set between EGP 1k and EGP 500k.<\/p><p><strong>***<\/strong> <br> <strong><a href=\"https:\/\/www.surveymonkey.com\/r\/9VF6H6Y\">Take our EV survey:<\/a><\/strong> Are you an ex-petrolhead shopping around for your first electric vehicle? EV-curious and wondering what all the fuss is about? Or are you not ready to say goodbye to that sweet smell of benzene as you wait at the gas station?<\/p><p><strong>We want to hear from you:<\/strong> We\u2019re taking the pulse on how the nation feels about Egypt\u2019s nascent EV transition. Take a few minutes to fill out <a href=\"https:\/\/www.surveymonkey.com\/r\/9VF6H6Y\">our short survey<\/a>. We\u2019ll be back with the results in a couple of weeks.<br> <strong>***<\/strong><\/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><a class=\"content-anchor\" id=\"tldr-story-10\"><\/a><strong> SETTING THE TONE GLOBALLY: The IMF and World Bank <\/strong><strong><a href=\"https:\/\/www.imf.org\/en\/About\/Factsheets\/Annual-Spring-Meetings\">annual meetings<\/a><\/strong><strong> kick off today <\/strong>in Washington, DC, and wrap up on Sunday, 16 October. The theme of the in-person gathering is clear from the very first session: \u201c<strong>addressing multiple crises in an era of volatility<\/strong>.\u201d You can explore the <a href=\"https:\/\/www.worldbank.org\/en\/meetings\/splash\/annual\">meetings\u2019 website here<\/a> or <a href=\"https:\/\/www.worldbank.org\/en\/meetings\/splash\/annual\/schedule\">dive deeper into the day-by-day agenda here<\/a>.<\/p><p><strong>Not (yet) on the agenda: A meeting of the executive board to discuss an assistance <\/strong><strong>package for Egypt. <\/strong>The public agenda of the IMF\u2019s top body so far shows no meetings penciled in for this week. The board would have to approve any loan or other assistance to Egypt.<\/p><p><strong>Central Bank Governor Hassan Abdalla, a number of cabinet members, and a who\u2019s who <\/strong><strong>of the Egyptian banking community <\/strong>are all descending on Washington for the get-together.<\/p><p><strong>OTHER BIG GLOBAL STORIES worth knowing about this morning:<\/strong><\/p><ul>\n<li><strong>There\u2019s less than a month to go until midterm elections in the United States.<\/strong> The <a href=\"https:\/\/www.nytimes.com\/2022\/10\/08\/us\/politics\/senate-midterm-elections.html\">New York Times<\/a> is describing this as a \u201ctumultuous race.\u201d The right-leaning <a href=\"https:\/\/www.wsj.com\/articles\/midterm-report-card-on-biden-economy-clouded-by-opec-fed-moves-11665281121?mod=hp_lead_pos4\">Wall Street Journal<\/a> suggests voters prefer Republicans on economic issues heading into the 8 November poll, and <a href=\"https:\/\/www.politico.com\/news\/2022\/10\/09\/senate-swing-state-polls-2022-00060983\">Politico<\/a> is calling the battle for a majority in the Senate a \u201cnail-biter.\u201d<\/li>\n<li><strong>Markets sage Mohamed El Erian is getting lots of ink <\/strong>after he warned in a televised interview that the US faces \u201ca very high probability of a damaging recession that was totally avoidable.\u201d (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-09\/el-erian-blames-fed-for-very-high-risk-of-a-damaging-recession?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> | <a href=\"https:\/\/fortune.com\/2022\/10\/09\/recession-fed-mistakes-interest-rates-economist-mohamed-el-erian\/\">Fortune<\/a>)<\/li>\n<li><strong>Reporters are zeroing in on China<\/strong>, which will hold its once-every-five-years Communist Party congress next week. The gathering is expected to deliver China\u2019s president, Xi Jinping an <a href=\"https:\/\/www.cnbc.com\/2022\/10\/10\/china-party-congress-names-to-watch-as-xi-prepares-for-leadership-change.html\">unprecedented third five-year term in office<\/a>.<\/li>\n<li><strong>An attack on a road and rail bridge that\u2019s a key part of Russia\u2019s supply line <\/strong>into southern Ukraine is still making headlines.<\/li>\n<\/ul><p><strong>MORNING MUST READS-<\/strong><\/p><p><strong>What the hell is the metaverse, anyway? <\/strong>The <a href=\"https:\/\/www.nytimes.com\/2022\/10\/07\/technology\/metaverse-facebook-horizon-worlds.html\">New York Times<\/a>\u2019 Kashmir Hill spent 24 hours with a <s>Facebook<\/s> Meta headset clamped over her head to figure out the state of play \u2014 and is back with a report for those of us who just \u2026 can\u2019t.<\/p><p><strong><a href=\"https:\/\/www.washingtonpost.com\/business\/2022\/10\/08\/starbucks-union-ceo-howard-schultz\/\">Howard Schultz\u2019s fight to stop a Starbucks barista uprising<\/a><\/strong> in the Washington Post is simultaneously an inter-generational epic, a dive into the state of the US labor market, and a warning to startup founders that their businesses will \u2014 one day \u2014 outgrow their abilities to control them.<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>Assessing Nafeza, one year on:<\/strong> Lynx Strategic Business Advisors are hosting a webinar today to discuss the Advanced Cargo Information (ACI), aka Nafeza, one year after it was implemented. You can <a href=\"https:\/\/us06web.zoom.us\/webinar\/register\/WN_OSp-1blBSKaJ5oNRzhdVZw\">register for the event here<\/a>.<\/p><p><strong>The <\/strong><strong><a href=\"https:\/\/ceo-women.com\/about\/\">CEO Women<\/a><\/strong><strong> Conference takes place in Cairo today. <\/strong>The event will bring together Arab and African businesswomen together to discuss women\u2019s leadership and forge closer ties.<\/p><p><strong>Fuel prices to rise this month?<\/strong> We\u2019re expecting the government to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d105a5e1-bbde-4d04-b84c-b2b24a38ccf8\">hike fuel prices<\/a> for the seventh consecutive quarter when the fuel pricing committee meets this month. Fuel prices have risen by <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/59629508-f337-48ec-b80c-092a43eecb30\">as much as 28%<\/a> over the past 18 months in response to heightened international oil prices, which surged earlier this year on the back of Russia\u2019s invasion of Ukraine.<\/p><p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/CIRA-Blackboard-Banner-B.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed.<\/p><p><strong>In today\u2019s issue:<\/strong> The private sector can play a significant role in increasing kindergarten enrollment and high school graduation rates across Egypt, according to a new World Bank report. In today\u2019s Blackboard, we look at the benefits of expanding public-private partnerships (PPPs) to provide universal KG education in Egypt, and how improving access to early childhood education is critical for Egypt's educational reform plans.<\/p><p><strong>Missed this week\u2019s Inside Industry? <\/strong>In our weekly vertical exploring all things industry and manufacturing, we <a href=\"https:\/\/enterprise.press\/industries\/nutritional-supplements-producers-are-up-for-a-big-shift-as-they-grapple-with-a-new-regulator\/\">looked at a changing regulatory landscape<\/a> for nutritional and dietary supplement producers, which industry players say could undermine local manufacturing and hamper exports.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nafeza\/\">Nafeza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/senate\/\">Senate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ukraine\/\">Ukraine<\/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=\"549979\" 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=\"549979\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/10\/549979\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549979\" class=\"content-area-description single-story post-549979 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:\/\/oceanman-openwater.com\/oceanman-somabay-egypt\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/rsz_viusal_ads_somabay-enterprise_01.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n<p><strong>Oceanman African and Middle East championships at Somabay:<\/strong> Somabay will be hosting the first ever Oceanman African and Middle East Championships on 14-15 October, 2022. More than 750 participants between 7-70 years old from different countries will come together for the passion of open water swimming. Register now for all five races with different distances and qualifications. To find out more, visit <a href=\"https:\/\/oceanman-openwater.com\/oceanman-somabay-egypt\/\">https:\/\/oceanman-openwater.com\/oceanman-somabay-egypt\/<\/a><\/p>\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=\"549980\" 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=\"549980\">\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\">SUBSIDIES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/10\/is-bread-subsidy-reform-back-on-the-table\/\">\r\n                            Is bread subsidy reform back on the table?                        <\/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\/10\/10\/is-bread-subsidy-reform-back-on-the-table\/\" 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\/10\/10\/is-bread-subsidy-reform-back-on-the-table\/')\">\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\/10\/10\/is-bread-subsidy-reform-back-on-the-table\/\">\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=Is bread subsidy reform back on the table?&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/10\/is-bread-subsidy-reform-back-on-the-table\/\">\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\/10\/10\/is-bread-subsidy-reform-back-on-the-table\/&title=Is bread subsidy reform back on the table?\">\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=Is+bread+subsidy+reform+back+on+the+table%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F10%2Fis-bread-subsidy-reform-back-on-the-table%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\/10\/10\/is-bread-subsidy-reform-back-on-the-table\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/172.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"549981\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/10\/is-bread-subsidy-reform-back-on-the-table\/172-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/172.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"172.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/172.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/172.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549980\" class=\"content-area-description single-story post-549980 post type-post status-publish format-standard has-post-thumbnail hentry category-subsidies tag-enterpriseam tag-imf tag-russia tag-subsidies tag-supply-ministry tag-ukraine tag-world-bank wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Supply M<\/strong><strong>inister revives talk of bread subsidy reform in the House of <\/strong><strong>Representatives: <\/strong>Supply Minister Ali El Moselhy called on MPs to form an ad hoc committee to look into possible changes to the country\u2019s massive bread subsidy program. El Moselhy made the call during a meeting of the House Agriculture Committee, which was discussing a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/641511ec-c42a-4cf5-a975-49161d01b1f4\">USD 500 mn loan<\/a> the World Bank recently approved to support our wheat imports.<\/p>\n<p><strong>The inside track: <\/strong>El Moselhy wants representatives of the House\u2019s agriculture, economic affairs and social solidarity committees to weigh in on reforming the program to bring wheat imports down. The goal is to reduce pressure on the state budget, curb demand for FX, and \u201cmake sure [subsidies] go to citizens who are really in need of them,\u201d El Moselhy said.<\/p>\n<p><strong>One alternative: cash transfers for the neediest. <\/strong>El Moselhy revived a proposal to replace bread subsidies with cash support to the most vulnerable families, according to Rep. Hesham El Hossary, who chairs parliament\u2019s agriculture committee. That\u2019s in line with guidance from the World Bank, which said in its latest report on growth in the MENA region that food and energy subsidies are far more expensive for the state than \u201callowing prices to increase and supporting just the poorest 10% of the population with a cash transfer.\u201d<\/p>\n<p><strong>El Moselhy\u2019s comments could put smiles on faces at the IMF: <\/strong>While bread subsidy reform won\u2019t likely form an explicit condition of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2e41ff0b-8134-493a-a172-34b0cd970ded\">imminent<\/a> loan to Egypt from the IMF, the multilateral lender has called on us <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4c1d4faf-a5be-4238-a39f-fb90d897192a\">to take \u201cdecisive\u201d steps<\/a> toward fiscal and structural reforms that would address the state\u2019s budget deficit. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d90b8258-1e39-4bfd-9e85-a6dfce6cc9d6\">BNP Paribas<\/a> analysts expect that subsidies <strong>\u201c<\/strong>are likely to be curtailed once the inflationary effects of the Ukrainian conflict start to subside.\u201d<\/p>\n<p><strong>Watch this space: Top Egyptian officials are in Washington<\/strong>, DC, this week for the IMF and World Bank annual meetings.<\/p>\n<p><strong>BACKGROUND- This is the first talk of reforming bread subsidies in a while: <\/strong>Plans to overhaul the longstanding bread subsidy system \u2014 which offers loaves at below-market prices to more than 60 mn people \u2014 have been on hold since war broke out in Ukraine. The war upended global commodity markets, driving food and energy price inflation at the same time as supply chain snarls were already driving prices up. As the world\u2019s largest importer of wheat \u2014 and with some 80% of its imports traditionally coming from Russia and Ukraine \u2014 Egypt has been particularly exposed to the shock. The government has been <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f7f5d914-1be8-4dfe-93c8-767c06de3057\">stepping up support<\/a> to the most vulnerable amid the cost of living crisis, bringing another 1 mn families under its Takaful and Karama social security program and allocating more funds to subsidized bread.<\/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\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/subsidies\/\">subsidies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/supply-ministry\/\">Supply Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ukraine\/\">Ukraine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-bank\/\">World Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549982\" 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=\"549982\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/10\/oih-is-planning-four-new-hotels\/\">\r\n                            OIH is planning four new hotels                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/10\/oih-is-planning-four-new-hotels\/173-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/173.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"173.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/173.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/173.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549982\" class=\"content-area-description single-story post-549982 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-enterpriseam tag-evs tag-gold tag-investment-watch tag-orascom-investment-holding tag-renewables wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Orascom Investment Holding (OIH) has earmarked USD 200-300 mn <\/strong>to build four new hotels \u2014 two in the North Coast, one in Cairo and another in Giza near the pyramids, chairman Naguib Sawiris said at an economic conference last week.<\/p>\n<p><strong>Details TBD:<\/strong> The company is currently conducting studies into unspecified new investments in the hotel industry, it said in an <a href=\"https:\/\/ent.news\/2022\/10\/Orascom-EGX-disclosure-10-9-2022.pdf\">EGX disclosure (pdf)<\/a> following Sawiris\u2019 comments, adding that OIH will share details of the potential investments with the board as soon as the studies wrap.<\/p>\n<p><strong>A push into African renewables:<\/strong> The company is also looking into setting up EV charging companies in unnamed African countries, Sawiris said.<\/p>\n<p><strong>Sawiris still a goldbug:<\/strong> A longtime fan of investing in gold and backer of mining firm Altus Strategies, Sawiris said the yellow metal has been the least affected of all asset classes by this year\u2019s rising interest rates, far outperforming riskier investments like stocks.<\/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\/evs\/\">EVs<\/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\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-investment-holding\/\">Orascom Investment Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549984\" 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=\"549984\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/10\/549984\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549984\" class=\"content-area-description single-story post-549984 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:\/\/b2gcop27.moharrampartners.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/MP-COP27-Meeting-Enterprise-Web-Size-1.png?ssl=1\" alt='enterprise'><\/a><\/p>\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=\"549985\" 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=\"549985\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/10\/more-securitized-debt-coming\/\">\r\n                            More securitized debt coming                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/10\/more-securitized-debt-coming\/174-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/174.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"174.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/174.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/174.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549985\" class=\"content-area-description single-story post-549985 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt-watch tag-efg-hermes tag-enterpriseam tag-madinet-masr-for-housing-and-development tag-securitization 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>MNHD to tap securitization market before end of 1H 2023:<\/strong> EGX-listed Madinet Nasr Housing and Development (MNHD) is looking to take the second issuance of its three-year, EGP 3 bn securitization program to market before the end of 1H 2023, MNHD CEO Abdallah Sallam told Bloomberg Asharq (<a href=\"https:\/\/www.asharqbusiness.com\/article\/42514\">watch, runtime: 1:35<\/a>). The issuance could be in the range of EGP 1 bn, though Sallam emphasized that the value could change depending on how the company\u2019s debt-raising needs develop.<\/p>\n<p><strong>REFRESHER- The developer closed the first <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2ed7b2bc-e904-41d3-a79a-0c4f1a2b9250\">EGP 300 mn issuance<\/a><\/strong><strong> of the program<\/strong> at the start of the year. The company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2eac66cd-7c5e-4937-9583-6fb425f3a217\">had signed<\/a> an EGP 750 mn sale and leaseback agreement with EFG Hermes in December, which is set to include a few securitization issuances as follow-on transactions.<\/p>\n<p><strong>Advisors:<\/strong> Our friends at EFG Hermes are acting as the sole financial adviser, transaction manager, book-runner, arranger and co-underwriter on the issuance. CIB is acting as an underwriter and custodian.<\/p>\n<p><strong>It\u2019s been a bumper year for the securitized bond market:<\/strong> The total value of securitized bond issuances brought to market this year currently stands at some EGP 42 bn, following a blockbuster EGP 20 bn issuance from the New Urban Communities Authority\u2019s Al Taamir <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e4b248f-60d6-4930-9a92-c2a6aeddb6dd\">earlier this month<\/a>, according to our internal trackers. That dwarfs the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d63bde8a-8f94-4b1b-9508-527c3143b1c3\">EGP 15.8 bn taken<\/a> to market during the whole of 2021.<\/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\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/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\/securitization\/\">securitization<\/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=\"549987\" 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=\"549987\">\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\">Automotive<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/10\/natco-reportedly-acquires-a-third-of-ev-platform-electrified\/\">\r\n                            NATCO reportedly acquires a third of EV platform Electrified                        <\/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\/10\/10\/natco-reportedly-acquires-a-third-of-ev-platform-electrified\/\" 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\/10\/10\/natco-reportedly-acquires-a-third-of-ev-platform-electrified\/')\">\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\/10\/10\/natco-reportedly-acquires-a-third-of-ev-platform-electrified\/\">\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=NATCO reportedly acquires a third of EV platform Electrified&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/10\/natco-reportedly-acquires-a-third-of-ev-platform-electrified\/\">\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\/10\/10\/natco-reportedly-acquires-a-third-of-ev-platform-electrified\/&title=NATCO reportedly acquires a third of EV platform Electrified\">\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=NATCO+reportedly+acquires+a+third+of+EV+platform+Electrified+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F10%2Fnatco-reportedly-acquires-a-third-of-ev-platform-electrified%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\/10\/10\/natco-reportedly-acquires-a-third-of-ev-platform-electrified\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/175.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"549988\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/10\/natco-reportedly-acquires-a-third-of-ev-platform-electrified\/175-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/175.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"175.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/175.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/175.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549987\" class=\"content-area-description single-story post-549987 post type-post status-publish format-standard has-post-thumbnail hentry category-automotive tag-automotive tag-electrified tag-enterpriseam tag-evs tag-natco 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>State-owned National Automotive Company (NATCO) has acquired 33% of local <\/strong><strong>private sector EV services<\/strong><strong> p<\/strong><strong>latform <\/strong><strong><a href=\"https:\/\/www.electrifiedev.com\/\">Electrified<\/a><\/strong>, according to a report by <a href=\"https:\/\/bit.ly\/3T1Zvo4\">Al Mal<\/a>.<\/p>\n<p><strong>NATCO looks to be building an EV empire \u2014 with a first mover advantage. <\/strong>The company wants to become the country\u2019s leading electric vehicle distributor and plans to grow Electrified to become the region\u2019s largest EV services platform, the newspaper quotes NATCO CEO Yasser Saleh as saying. The firm is already <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4931ca8e-a807-483d-be7c-d713a24af4db\">setting up<\/a> the country\u2019s first electric car distributor with state-owned El Nasr Automotive. It will be the sole distributor of the first locally-assembled EVs in the market and will also import and distribute EVs from other manufacturers.<\/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\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electrified\/\">Electrified<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/natco\/\">NATCO<\/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=\"549989\" 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=\"549989\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/10\/549989\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549989\" class=\"content-area-description single-story post-549989 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/www.sodic.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/Sodic-25_ART_1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\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=\"549990\" 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=\"549990\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/10\/last-nights-talk-shows-more-on-the-ramifications-of-the-fx-shortage\/\">\r\n                            Last Night\u2019s Talk Shows: More on the ramifications of the FX shortage                        <\/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\/10\/10\/last-nights-talk-shows-more-on-the-ramifications-of-the-fx-shortage\/\" 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\/10\/10\/last-nights-talk-shows-more-on-the-ramifications-of-the-fx-shortage\/')\">\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\/10\/10\/last-nights-talk-shows-more-on-the-ramifications-of-the-fx-shortage\/\">\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=Last Night\u2019s Talk Shows: More on the ramifications of the FX shortage&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/10\/last-nights-talk-shows-more-on-the-ramifications-of-the-fx-shortage\/\">\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\/10\/10\/last-nights-talk-shows-more-on-the-ramifications-of-the-fx-shortage\/&title=Last Night\u2019s Talk Shows: More on the ramifications of the FX shortage\">\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=Last+Night%E2%80%99s+Talk+Shows%3A+More+on+the+ramifications+of+the+FX+shortage+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F10%2Flast-nights-talk-shows-more-on-the-ramifications-of-the-fx-shortage%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\/10\/10\/last-nights-talk-shows-more-on-the-ramifications-of-the-fx-shortage\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549990\" class=\"content-area-description single-story post-549990 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-agriculture tag-automotive tag-banking tag-enterpriseam tag-foreign-exchange 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 a quiet night on the airwaves last night<\/strong>, as the talking heads chewed over the consequences of an ongoing FX shortage for the automotive and banking sectors, including car imports trouble and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8d4e1310-8476-4983-bf26-83593b2f6167\">new limits on card use abroad<\/a> introduced by at least four local banks.<\/p>\n<p><strong>Surprising nobody, car dealers still have a lot to say about import issues: <\/strong>Some dealers have been forced to close showrooms after the market was hit by <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f1237459-2827-438d-96c3-8fe7a8dce26e\">rules<\/a> to conserve FX that limited imports to a handful of essential goods, leaving new cars and car parts stranded at ports, head of the car traders\u2019 federation Osama Abou El Magd told Ala Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=J5Swj8hj0YY\">watch, runtime: 4:07<\/a>). Spare parts are also in short supply, Mohamed Gaber, a member of the Chamber of Commerce\u2019s auto parts division reiterated (<a href=\"https:\/\/www.youtube.com\/watch?v=3xB9HJd4ffI\">watch, runtime: 3:44<\/a>), highlighting the lack of local production.<\/p>\n<p><strong>New withdrawal limits on using debit and credit cards abroad<\/strong> were the topic of Lamees El Hadidy\u2019s interview with Banque Misr Chairman Mohamed El Etreby on Kelma Akhira (<a href=\"https:\/\/www.youtube.com\/watch?v=Xf-DJd07jXY\">watch, runtime: 14:11<\/a>).<\/p>\n<p><strong>ALSO- Some 56k building violations settled and counting. <\/strong>The committee tasked with recovering state-owned land has so far settled 56k cases of illegal encroachment, committee spokesperson Ahmed Ayoub told Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=HaaNzBT8zYE\">watch, runtime: 6:14<\/a>) and Hadrat El Mowaten (<a href=\"https:\/\/www.youtube.com\/watch?v=BCMIRh8WsY8\">watch, runtime: 6:48<\/a>).<\/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\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549991\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll 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href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 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class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"549992\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/10\/egypt-in-the-news-more-cop-talk\/\">\r\n                            Egypt in the News: More COP talk                        <\/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      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\n<article id=\"post-549992\" class=\"content-area-description single-story post-549992 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-archaeology tag-cop27 tag-education tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>On a relatively quiet day for mentions of Egypt in the foreign press, <\/strong>the <a href=\"https:\/\/www.theguardian.com\/environment\/2022\/oct\/06\/cop27-african-activists-climate-crisis\">Guardian<\/a> is out with a piece on young African activists who say they won\u2019t make it to the COP 27 summit due to financial and accreditation hurdles.<\/p>\n<p><strong>Also making headlines: <\/strong><\/p>\n<ul>\n<li><strong>A third school tragedy: <\/strong>A 10-year-old girl died after allegedly being hit on the head by a teacher, marking the third death of a schoolgirl since the academic year started a week ago. (<a href=\"https:\/\/www.thenationalnews.com\/mena\/egypt\/2022\/10\/09\/egyptian-schoolgirl-dies-week-after-teacher-hit-her-on-head-with-stick\/\">The National<\/a>)<\/li>\n<li><strong>The Egyptian Museum is showcasing the treasures of Pharaoh Psusennes I<\/strong> in celebration of the 200th anniversary of Egyptology. (<a href=\"https:\/\/english.news.cn\/20221009\/4de701318bdc4ba4b8c0eb443288f618\/c.html\">Xinhua | watch, runtime: 1:01<\/a>)<\/li>\n<\/ul>\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\/archaeology\/\">archaeology<\/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\/education\/\">Education<\/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=\"549993\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549994\" 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=\"549994\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/10\/investors-show-interest-in-state-owned-hotels\/\">\r\n                            Investors show interest in state-owned hotels                        <\/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\/10\/10\/investors-show-interest-in-state-owned-hotels\/\" 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\/10\/10\/investors-show-interest-in-state-owned-hotels\/')\">\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\/10\/10\/investors-show-interest-in-state-owned-hotels\/\">\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=Investors show interest in state-owned hotels&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/10\/investors-show-interest-in-state-owned-hotels\/\">\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\/10\/10\/investors-show-interest-in-state-owned-hotels\/&title=Investors show interest in state-owned hotels\">\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=Investors+show+interest+in+state-owned+hotels+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F10%2Finvestors-show-interest-in-state-owned-hotels%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\/10\/10\/investors-show-interest-in-state-owned-hotels\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549994\" class=\"content-area-description single-story post-549994 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-banking tag-enterpriseam tag-infrastructure tag-investment-watch tag-pharma tag-qalaa-holdings tag-saudi-arabia tag-state-privatization-program tag-tourism 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> Investors are lining up to snag shares in state-owned hotels: <\/strong>Several unnamed international investors and investment funds have submitted offers to acquire shares in hotels owned by state-owned Egyptian General Company for Tourism and Hotels (EGOTH), cabinet spokesman Nader Saad said in a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02bjWz1uAzhFHHa7mJ7o2Wn6yc36g1S9UjByfheAUm2Cea7jSGoFu1jvMBpocBFphkl\">statement<\/a>. The government is currently evaluating the hotels ahead of moving forward with the stake sales, he added.<\/p>\n<p><strong>REMEMBER- The <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e20e3ec-470d-40fc-bd71-c08efcd42d82\">Public Enterprise Ministry<\/a><\/strong><strong> earlier this year said <\/strong><strong>that it will merge seven or eight hotels <\/strong>owned by EGOTH parent company the Holding Company for Tourism and Hotels (HOTAC) into a single entity ahead of a planned listing on the EGX. The plan is part of the government strategy to privatize state-owned assets and boost the private sector's role in the economy.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li>President <strong>Abdel Fattah El Sisi<\/strong> has ratified the <strong>legal framework<\/strong> for the Saudi Public Investment Fund\u2019s planned <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce28f2c9-69b3-4c78-b2ab-1eb5d194e101\">USD 10 bn worth of<\/a><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce28f2c9-69b3-4c78-b2ab-1eb5d194e101\">investments<\/a><\/strong> in Egypt as part of efforts to shore up our external position. (Official Gazette)<\/li>\n<li>The Madbouly government wants to <strong>localize our water pump industry<\/strong> in partnership with Egyptian-German pumps producer <strong><a href=\"https:\/\/www.ruhrpumpen.com\/en\/about\/facilities\/egypt\">Ruhrpumpen Egypt<\/a><\/strong>. (<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0F5hgtG93mY7bbfFgM2JLkQoL3A4B83ac1xrvwQ77QnyN38JuMkfkeuUgizSR78GQl\">Statement<\/a>)<\/li>\n<li>German pharma player <strong>Bayer <\/strong>wants to<strong> invest EGP 240 mn<\/strong> here over the next three years by reintroducing five products to the market. (<a href=\"https:\/\/www.alborsaanews.com\/2022\/10\/09\/1584767\">Al Borsa<\/a> | <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02FJG317PsFtX665sieW4aD6mVvEDgF9KurxCZhtQ9io3LmS2jsvG3Pujp8pzV2GbRl\">Statement<\/a>)<\/li>\n<li>National Investment Bank subsidiary <strong>NI Capital<\/strong> will open the door for <strong>subscriptions <\/strong>to its<strong> EGP 25 mn equity fund<\/strong> before the end of the month. (<a href=\"https:\/\/www.alborsaanews.com\/2022\/10\/09\/1584746\">Al Borsa<\/a>)<\/li>\n<\/ul>\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\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharma\/\">pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qalaa-holdings\/\">Qalaa Holdings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-privatization-program\/\">state privatization program<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549995\" 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=\"549995\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/10\/us-stock-markets-brace-for-another-rough-earnings-season\/\">\r\n                            US stock markets brace for another rough earnings season                        <\/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\/10\/10\/us-stock-markets-brace-for-another-rough-earnings-season\/\" 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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Analysts expect S&amp;P 500 firms to report earnings-per-share growth of 2.6% y-o-y in 3Q 2022 \u2014 a downward revision from the 9.8% that had been penciled in for the quarter at the beginning of July, according to <a href=\"https:\/\/insight.factset.com\/largest-cuts-to-eps-estimates-for-sp-500-companies-for-q3-2022-in-more-than-two-years\">FactSet<\/a> data.<\/p><p><strong>How low can the S&amp;P 500 go?<\/strong> The index has already fallen by more than a fifth this year, but many analysts worry that current earnings estimates are still too bullish thanks to concerns over the US Federal Reserve\u2019s monetary tightening and indications the US economy is heading into a recession, the salmon-colored paper says. Estimates for 2023 are stronger, however, with consensus suggesting 6.5% growth in 1Q 2023 and 5.5% in 2Q 2023, underpinned by resilient retail spending and easing energy prices.<\/p><p><strong>ALSO- Another blockbuster Saudi IPO: <\/strong>Saudi utility firm Marafiq covered the books for its USD 897 mn IPO \u2014 the country\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b3461e44-0a84-4978-8acb-4c6f19508729\">largest<\/a> since March \u2014 within hours of opening yesterday. Bookbuilding will last until 14 October and the retail offering runs from 26-29 October. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-09\/saudi-utility-marafiq-seeks-to-raise-897-million-in-share-sale?srnd=premium-middle-east&amp;leadSource=uverify%20wall\">Bloomberg<\/a>)<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<thead>\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>9,941<\/p>\n<\/td>\n<td>\n<p>-0.7% (YTD: -16.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 19.60<\/p>\n<\/td>\n<td>\n<p>Sell 19.71<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 19.63<\/p>\n<\/td>\n<td>\n<p>Sell 19.69<\/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>11,566<\/p>\n<\/td>\n<td>\n<p>-1.6% (YTD: +2.5%)<\/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>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>9,905<\/p>\n<\/td>\n<td>\n<p>+1.4% (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>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,373<\/p>\n<\/td>\n<td>\n<p>+0.7% (YTD: +5.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>3,640<\/p>\n<\/td>\n<td>\n<p>-2.8% (YTD: -23.6%)<\/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>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>6,991<\/p>\n<\/td>\n<td>\n<p>-0.1% (YTD: -5.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td>\n<p>3,375<\/p>\n<\/td>\n<td>\n<p>-1.7% (YTD: -21.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 97.77<\/p>\n<\/td>\n<td>\n<p>-0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 6.66<\/p>\n<\/td>\n<td>\n<p>-1.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,705.30<\/p>\n<\/td>\n<td>\n<p>-0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 19,416<\/p>\n<\/td>\n<td>\n<p>-0.0% (YTD: -58.0%)<\/p>\n<\/td>\n<\/tr>\n<\/thead>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 fell 0.7% at yesterday\u2019s close<\/strong> on turnover of EGP 560.6 mn (42.1% below the 90-day average). Regional investors were net buyers. The index is down 16.8% YTD.<\/p><p><strong>In the green: <\/strong>Alexandria Containers and Cargo Handling (+3.5%), Rameda Pharma (+3.0%) and Qalaa Holding (+2.0%).<\/p><p><strong>In the red: <\/strong>Madinet Nasr for Housing and Development (-2.7%), Fawry (-2.5%) and Heliopolis Housing and Development (-2.4%).<\/p><p><strong>Asian markets are down across the board in early trading this morning<\/strong> and futures are showing a sea of red on both sides of the Atlantic when western markets open up later in the day. Stocks are struggling amid increasing worry that the Fed\u2019s aggressive tightening cycle could trigger a global slowdown, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-09\/asian-stocks-set-to-decline-as-rate-hike-bets-firm-markets-wrap?srnd=markets-vp&amp;sref=mmeFTDW1\">Bloomberg<\/a> reports.<\/p>\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\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/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\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/marafiq\/\">Marafiq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-el-erian\/\">Mohamed El Erian<\/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\/sp-500\/\">S&amp;P 500<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"549996\" 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=\"549996\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/10\/greek-fm-in-cairo-to-rally-support-over-libyan-turkish-med-exploration-pact\/\">\r\n                            Greek FM in Cairo to rally support over Libyan-Turkish Med exploration pact                        <\/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\/10\/10\/greek-fm-in-cairo-to-rally-support-over-libyan-turkish-med-exploration-pact\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The agreement could include exploration rights in the so-called \u201cexclusive economic zone\u201d drawn up by the two countries back in 2019, which Egypt and Greece have disputed with their own <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3c3ad5b2-df09-4b29-a8b0-493e1b964837\">rival agreement<\/a> demarcating maritime borders in the oil and gas-rich East Med.<\/p>\n<p><strong>Shoukry urged the UN to take a \u201cclear position\u201d on the Libyan national unity government <\/strong>that signed the agreement with Turkey, at a press conference following the<a href=\"https:\/\/twitter.com\/MfaEgypt\/status\/1579043743940096001\">meeting<\/a> with Dendias <a href=\"https:\/\/twitter.com\/AlArabiya\/status\/1579079308932681728\">(watch, runtime: 1:28)<\/a>. The Tripoli government does not have the \u201cauthority to sign any international agreements nor MoUs\u201d since national elections were delayed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a65a8b2c-5691-404f-b1d9-9ce68045741e\">in December<\/a>, Shoukry said. <a href=\"https:\/\/www.asharqbusiness.com\/article\/42633\">Bloomberg Asharq<\/a> and the <a href=\"https:\/\/apnews.com\/article\/middle-east-africa-egypt-cairo-399ce799bda98b2d21bb126567ab5e05\">AP<\/a> also had coverage.<\/p>\n<p><strong>MEANWHILE- Egypt wants to unlock EUR 54 mn in debt-for-development financing from <\/strong><strong>Germany. <\/strong>The topic was on the agenda yesterday when International Cooperation Minister Rania Al Mashat met with the head of Germany\u2019s Economic Cooperation Ministry\u2019s Middle East Development Cooperation division, Mario Sander, according to a cabinet <a href=\"https:\/\/bit.ly\/3CH15Xc\">statement<\/a>. The funding will be used for climate and green economy projects, according to the statement.<\/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\/diplomacy\/\">DIPLOMACY<\/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\/greece\/\">Greece<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/international-cooperation-ministry\/\">International Cooperation Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/libya\/\">Libya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mediterranean\/\">Mediterranean<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"549997\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27466.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into education in Egypt, from K-12 to post-secondary.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27480.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Monday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/blackboard\/\">\r\n                            Read Blackboard                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">10<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/how-the-private-sector-can-help-universalize-early-childhood-education-in-egypt\/\">\r\n                            How the private sector can help universalize early childhood education in Egypt<\/a>\r\n                        <\/h3>\r\n                        \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/how-the-private-sector-can-help-universalize-early-childhood-education-in-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/blackboards\/how-the-private-sector-can-help-universalize-early-childhood-education-in-egypt\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/blackboards\/how-the-private-sector-can-help-universalize-early-childhood-education-in-egypt\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=How the private sector can help universalize early childhood education in Egypt&url=https:\/\/enterpriseam.com\/egypt\/blackboards\/how-the-private-sector-can-help-universalize-early-childhood-education-in-egypt\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/blackboards\/how-the-private-sector-can-help-universalize-early-childhood-education-in-egypt\/&title=How the private sector can help universalize early childhood education in Egypt\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=How+the+private+sector+can+help+universalize+early+childhood+education+in+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Fblackboards%2Fhow-the-private-sector-can-help-universalize-early-childhood-education-in-egypt%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>                    <\/div>\r\n\r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/how-the-private-sector-can-help-universalize-early-childhood-education-in-egypt\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/176.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"549998\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/how-the-private-sector-can-help-universalize-early-childhood-education-in-egypt\/176-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/176.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"176.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/176.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/176.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-549997\" class=\"content-area-description post-549997 blackboard type-blackboard status-publish has-post-thumbnail hentry tag-education tag-enterprise-blackboard tag-enterpriseam tag-public-private-partnership tag-world-bank wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a><strong> The private sector has a massive role to play in increasing kindergarten access <\/strong><strong>and high school graduation rates across Egypt<\/strong>, the World Bank said in a <a href=\"https:\/\/www.worldbank.org\/en\/country\/egypt\/publication\/egypt-public-expenditure-review-for-human-development-sectors\">recent report<\/a>. Last week, we <a href=\"https:\/\/enterprise.press\/blackboards\/more-investment-needed-in-our-public-schools-to-stem-teacher-shortages-create-classroom-space-world-bank-says\/\">looked<\/a> at how Egypt hasn\u2019t been spending enough on education, leading to a shortage of teachers and overcrowded classrooms, according to the Egypt Public Expenditure Review for Human Development, which offered recommendations on how to allocate adequate funding to alleviate the strain in public schools. This week, we focus on the benefits of universalizing KG education in Egypt, through more public-private partnerships (PPPs).<\/p>\n<p><strong>Investing more into primary education and making KG available to everyone would put Egypt on the path to a successful overhaul of our education system<\/strong>, the report said. Children from lower socioeconomic backgrounds have more trouble enrolling in pre-primary education programs and are more likely to drop out of school during secondary school, making the KG years especially crucial, the report said. Universal access to KG education \u2014 through public and private programs \u2014 would significantly improve graduation rates.<\/p>\n<p><strong>Student enrollment is highest during primary school years and lowest during KG years:<\/strong> Almost all of the children in the primary age group and 91% of the children in the preparatory age group attend public and private schools, according to the report. On the other hand, enrollment is lowest at both systemic ends. According to the report, the pre-primary net enrollment rate is currently at 21%, which is one of the lowest rates in the MENA region. After the preparatory level, the enrollment rate declines once more, reaching 60% in secondary education.<\/p>\n<p><strong>The need to increase public expenditure funding for pre-primary school is less pressing, but equally important to Egypt\u2019s education reform plans: <\/strong>Since there aren\u2019t as many children enrolled in pre-primary school as there are in primary school, there isn\u2019t an immediate need to increase public funding. Universal access to KG education would complete the reform of the 4- to 12-year-old age group, which includes pre-primary and primary education.<\/p>\n<p><strong>Refresher:<\/strong> In September 2018, Egypt launched a major <a href=\"https:\/\/enterprise.press\/stories\/2018\/07\/29\/cairo-university-youth-conference-focuses-on-education\/\">education reform<\/a> that aims to shift the emphasis of education away from rote learning and toward higher-order critical thinking, creativity, communication, and digital skills. The reform agenda, also known as Education 2.0, promotes early learning foundations, with the Education Ministry making significant progress in implementing its reform agenda over the last three years, including rolling out a new KG curriculum and teacher training, and conducting a KG Diagnostic Study to identify strengths and potential to further strengthen KG teaching practices in the classroom.<\/p>\n<p><strong>Early childhood education is ripe for PPP projects:<\/strong> Few children have access to KG because they either cannot afford private programs or cannot get a spot at one of the limited public programs that are available, the report found. This emphasizes the importance of collaborating with the private sector in KG provision through PPPs.<\/p>\n<p><strong>The sector may have plenty of investment potential, but investors still need incentives to move into high-need areas. <\/strong>The public sector provides nearly 88% of primary education, and the private sector has been rapidly expanding in secondary education, according to the report. Because students do not have to transfer from public primary schools to private schools, PPPs can conduct business with less risk to equity, the report said. PPP models can also be used to give incentives to private KG providers in high-need areas. There are several options to consider that would also allow for more public provision, particularly in rural areas where the private sector would be under-motivated, the report said.<\/p>\n<p><strong>The government can put the private sector on the path to expansion by establishing a PPP model<\/strong>, the report suggests. A PPP modality would outline the strategies, the expected results and the way to pay for achieving universal enrollment in KG and expanding the role of the public sector.<\/p>\n<p><strong>Enter development impact bonds:<\/strong> While there are different types of PPPs for education across the world, the World Bank recommends we consider development impact bonds (DIBs), which are a hybrid of PPP models and results-based financing. In this framework, investors are paid by the outcome funder \u2014 a government agency, for example \u2014 when the desired outcome is achieved. The number of additional children who enroll in KG determine how much the government agency would pay, along with an interest payment to offset the risk. Investors and private KG providers would enter into agreements for them to share the risk and do all the technical work necessary to run the DIB.<\/p>\n<p><strong>Investors have already been showing interest in Egypt\u2019s early childhood education:<\/strong> There\u2019s already<a href=\"https:\/\/enterprise.press\/blackboards\/why-investors-are-jumping-on-the-preschool-bandwagon\/\">growing interest<\/a> in pre-schools among Egypt\u2019s private education outfits, which Mohamed El Kalla, CEO of EGX-listed education outfit CIRA, told Enterprise is an area with massive investment potential. \u201cIf we have a shortage in K-12 schools, multiply this by three for pre-K,\u201d he told us. More education management platforms have been acquiring and setting up nurseries due to large demand and strong growth prospects, largely thanks to a continuously growing population, Egypt Education Platform (EEP)\u2019s Ahmed Wahby told us.<\/p>\n<p><strong>Promoting early childhood education by raising public awareness of its value would lead to more children enrolling in programs.<\/strong> The low demand for KG and pre-K is partly due to their relatively high price and partly due to parents\u2019 lack of understanding of the long-term benefits of early childhood education. Decades of research support the idea that high school completion, college enrollment, and adult self-control and self-esteem can all be improved through early childhood education programs.<\/p>\n<p><strong>SOUND SMART- The economic case for investing in KG:<\/strong> Funding early childhood education is a tried-and-true, low-cost method of fostering economic growth and bridging equity gaps, according to Economics Nobel Prize laureate <a href=\"https:\/\/heckmanequation.org\/resource\/invest-in-early-childhood-development-reduce-deficits-strengthen-the-economy\/\">James Heckman<\/a>. Heckman contends that these investments have the potential to significantly increase educational, health, social, and economic outcomes for all children, particularly those from low-income families. This human capital is a crucial component of a country\u2019s infrastructure and is essential to securing its future. Making investments in young children today will create a more resilient and equitable workforce in the future, according to Heckman.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top education stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Naguib Samih Sawiris<\/strong> is launching an <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8b8f784b-747a-4491-afeb-16b56b3aedbe\">elite, leadership- and service-oriented boarding school<\/a> in El Gouna \u2014 with need-based scholarships to attract students from across the country.<\/li>\n<li><strong>EFG Hermes Corp-Solutions<\/strong> will <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9a69396e-a11a-41bf-b692-65696d2f6f61\">provide leasing and factoring services<\/a> to education providers in local fintech startup <strong>Klickit<\/strong>\u2019s network.<\/li>\n<li>The <strong>Arab Tourism Organization<\/strong> signed an agreement with <strong>King Salman International University<\/strong> in Sharm El Sheikh to accredit KSIU as a regional tourism sector training hub. (<a href=\"https:\/\/www.spa.gov.sa\/viewfullstory.php?lang=en&newsid=2390479\">SPA<\/a>)<\/li>\n<li>The <strong>Education Ministry<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/52700512-4104-4be2-9bb1-af2a1b158028\">issued a decision to shut down<\/a>school buildings with compromised structural integrity after the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/72b4c622-4bc7-4d32-9f52-2fdc3cd6ff06\">deaths<\/a> of at least two students.<\/li>\n<\/ul>\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\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/public-private-partnership\/\">public-private partnership<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-bank\/\">World Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"549999\" 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\/10\/10\/549999\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-549999\" class=\"content-area-description single-story post-549999 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>OCTOBER<\/strong><\/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>10 October (Monday): The <a href=\"https:\/\/ceo-women.com\/\">CEO Women<\/a> Conference.<\/p>\n<p>10 October (Monday): Lynx Strategic Business Advisors <a href=\"https:\/\/us06web.zoom.us\/webinar\/register\/WN_OSp-1blBSKaJ5oNRzhdVZw\">webinar<\/a> assessing Egypt\u2019s Advanced Cargo Information System one year after its implementation.<\/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>18 October (Tuesday): The <a href=\"https:\/\/www.almasdar.com\/120322\">Egyptian-Swedish business forum<\/a>, Stockholm, Sweden.<\/p>\n<p>23-25 \u200b\u200bOctober (Sunday-Tuesday): Egypt economic conference, Cairo, Egypt.<\/p>\n<p>24 October (Monday): <a href=\"https:\/\/fci.nl\/en\/event\/empowering-sustainable-trade-flows-factoring-facilitation-egyptian-trade-difficult-times?language_content_entity=en#register\">Empowering Sustainable Trade Flows with Factoring<\/a> conference, St. Regis Cairo.<\/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>30 October - 1 November (Sunday - Tuesday): <a href=\"https:\/\/www.egypt-energy.com\/en\/home.html\">Egypt Energy<\/a>, Egypt International Exhibition Centre (EIEC) in 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>9 November (Wednesday): Finance Ministry to host \u201c<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid029A7ytdAhcMYQsLo8xQ6Ne5FuvWWDty9yYj66v4LMifKZ611tqzps8jkcw4P7fLMhl\">Finance Day<\/a>\u201d at COP27.<\/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: Egyptian Automotive Summit.<\/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>30 January-1 February (Monday-Wednesday): CI Capital\u2019s Annual MENA Investor Conference 2023, Cairo, Egypt.<\/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>23-27 February (Thursday-Monday): The eighth annual <a href=\"https:\/\/www.bwe21.com\/2023-conference\/\">Business Women of Egypt\u2019s Women for Success conference<\/a>.<\/p>\n<p><strong>MARCH 2023<\/strong><\/p>\n<p>March: 4Q2022 earnings season.<\/p>\n<p>23 March (Wednesday) \u2014 First day of Ramadan (TBC). Maghreb will be at 6:08pm CLT.<\/p>\n<p><strong>APRIL 2023<\/strong><\/p>\n<p>17 April (Monday): Sham El Nessim.<\/p>\n<p>22 April (Saturday): Eid El Fitr (TBC).<\/p>\n<p>25 April (Tuesday): Sinai Liberation Day.<\/p>\n<p>27 April (Thursday): National holiday in observance of Sinai Liberation Day (TBC).<\/p>\n<p>Late April &ndash; 15 May: 1Q2023 earnings season.<\/p>\n<p><strong>MAY 2023<\/strong><\/p>\n<p>1 May (Monday): Labor Day.<\/p>\n<p>4 May (Thursday) National holiday in observance of Labor Day (TBC).<\/p>\n<p>22-26 May (Monday-Friday): Egypt <a href=\"https:\/\/www.afdb.org\/en\/news-and-events\/press-releases\/african-development-bank-group-concludes-annual-meetings-governors-endorse-banks-vision-next-10-years-51974#:~:text=The%20new%20Board%20of%20Governors,from%2022%2D26%20May%202023.\">will host<\/a> the African Development Bank (AfDB) annual meetings in Sharm El Sheikh.<\/p>\n<p><strong>JUNE 2023<\/strong><\/p>\n<p>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>4Q 2022: Saudi Jamjoom Pharma to <a href=\"https:\/\/bit.ly\/3R7SGzP\">inaugurate its EGP 1 bn pharma factory<\/a> in El Obour.<\/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\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":549977,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-549976","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"c48ab445-903d-40cd-853d-6c132f713840","teaser":"","photo_url":"https:\/\/ent.news\/2022\/10\/12.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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