{"id":550082,"date":"2022-10-13T03:40:31","date_gmt":"2022-10-13T03:40:31","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=550082"},"modified":"2025-12-15T22:53:41","modified_gmt":"2025-12-15T22:53:41","slug":"beni-suef-power-plant-could-head-to-the-sfes-pre-ipo-fund-before-the-end-of-2022","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/beni-suef-power-plant-could-head-to-the-sfes-pre-ipo-fund-before-the-end-of-2022\/","title":{"rendered":"Beni Suef power plant could head to the SFE\u2019s pre-IPO fund before the end of 2022"},"content":{"rendered":"<section id=\"550084\" 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=\"550084\">\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\/13\/this-morning-grab-your-jackets-another-day-of-imf-watching\/\">\r\n                            THIS MORNING: Grab your jackets + another day of IMF-watching                        <\/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\/13\/this-morning-grab-your-jackets-another-day-of-imf-watching\/\" 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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There\u2019s something for everyone here, from the latest in state stake sales, to cabinet measures to ease FX shortages and imports of everything from cars to wheat \u2014 rounded off with a nice big chunk of VC funding for local fintech startups.<\/p><p><strong>Sweater weather? <\/strong>Ok, perhaps not quite \u2014 but it\u2019s going to be a little cooler over the weekend, with temperatures peaking at 27-29\u00b0C in the day and hitting as low as 21\u00b0C at night, the national weather service <a href=\"https:\/\/www.facebook.com\/photo\/?fbid=471675718324334&amp;set=a.289008423257732\">says<\/a>. There\u2019s also a chance of rain along northern coastal regions.<\/p><p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>THE BIG STORY THIS MORNING here at home is \u2026 from Washington, DC, where Finance <\/strong><strong>Minister Mohamed Maait said an assistance package from the IMF is in the \u201cfinal confirmation\u201d stage. <\/strong>Maait was speaking with reporters late yesterday on the sidelines of the IMF and World Bank annual meetings. Cabinet is hoping the long-awaited package could be announced before the gathering wraps up, <a href=\"https:\/\/www.reuters.com\/business\/finance\/egypt-seeking-push-forward-critical-imf-deal-washington-2022-10-12\/\">Reuters<\/a> and <a href=\"https:\/\/bit.ly\/3VnKlLH\">CNBC Arabia<\/a> report.<\/p><p><strong>Maait wasn\u2019t giving much away: <\/strong>The finance minister is quoted as saying officials have reached an agreement on all aspects of the package, but he stopped short of giving details or confirming that the size and structure of the facility have been nailed down.<\/p><p><strong>The gov\u2019t is in favor of a more flexible FX rate for the EGP \u201cif necessary,\u201d<\/strong> Maait said, adding that the soaring USD has added pressure on currencies everywhere. His comments echo previous statements by <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eaa81cae-e4e2-4c66-963d-b806c4ed812b\">Planning Minister Hala El Said<\/a>. The EGP has continued to inch down against the greenback in recent days and weeks and has lost around a quarter of its value against the USD so far this year.<\/p><p><strong>The IMF executive board has still not released its public meeting schedule. <\/strong>The body would have to approve any new assistance program for Egypt. Senior Egyptian officials and members of the banking community are all in DC for the meetings.<\/p><p><strong>IT\u2019S DAY FOUR of the gathering and all eyes in Egypt should be on IMF boss Kristalina <\/strong><strong>Georgieva\u2019s briefing and presser. <\/strong>Georgieva is giving a briefing on the group\u2019s \u201cglobal policy agenda\u201d at 2pm CLT, with a 45-minute-long \u201copen press conference\u201d set to follow. We\u2019re hoping Egypt comes up.<\/p><p><strong>ALSO IN DC TODAY: <\/strong><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/bd6c0530-a9fc-4fad-8494-58464122c3f6\">Enterprise Climate is reporting this morning<\/a> that there will be tons of climate talk, with attendees debating the role of multilateral development banks in the energy transition. <a href=\"https:\/\/meetings.imf.org\/en\/2022\/Annual\/Schedule\">Tap or click here for the full schedule<\/a>.<\/p><hr class=\"grey-line\"><p><strong>SIGN OF THE TIMES- <\/strong>Banque du Caire has <a href=\"https:\/\/bit.ly\/3CRs16B\">raised interest rates<\/a> on three-year USD certificates of deposit to 5.3% from 2.5%, following a similar move by its fellow state-owned lenders National Bank of Egypt and Banque Misr. (<a href=\"https:\/\/bit.ly\/3CRs16B\">Al Mal<\/a>).<\/p><p><strong>DISPATCH FROM THE UAE- Traffic in Dubai was insane yesterday as crowds \u2014 the size <\/strong><strong>of which we <\/strong><strong>haven\u2019t seen since well before covid-19 \u2014 descended on the city for <\/strong><strong><a href=\"https:\/\/www.gitex.com\/\">GITEX<\/a><\/strong><strong>. <\/strong>Yesterday\u2019s highlight: Our friends at Emirati tech and investment giant e&amp; <a href=\"https:\/\/mobile.twitter.com\/etisalatAnd\/status\/1579839610137751552\">launched<\/a> their foray into the metaverse with <a href=\"https:\/\/www.etisalat.ae\/en\/wst-general\/e-and-universe.html\">e&amp; Universe<\/a>. We\u2019ll go deeper into e&amp;\u2019s transformation strategy and global ambitions next week in a Coffee With\u2026 Group CEO Hatem Dowidar. The weeklong tech extravaganza wraps up tomorrow.<\/p><p><strong>HAPPENING TODAY-<\/strong><\/p><p><strong>It\u2019s a big day for global macro news: US inflation figures are also out today. <\/strong>Analysts surveyed by <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-12\/us-core-inflation-seen-returning-to-40-year-high-as-rents-rise?sref=mmeFTDW1\">Bloomberg<\/a> are expecting core inflation \u2014 which strips out volatile items like food and fuel \u2013 to return to the 40-year highs recorded in March. They\u2019re predicting a slight deceleration in the headline figure to 8.1% y-o-y \u2014 still a rapid pace of inflation for any developed economy.<\/p><p><strong>The US Fed will be watching closely \u2014 and everyone else will be watching the Fed. <\/strong>Another alarmingly high inflation figure will only amp up the pressure for the Fed to go for another rate hike during its November meeting. The US central bank raised interest rates by 75 bps for a third successive meeting last month.<\/p><p><strong>The Fed remains inclined to go hard: <\/strong>The Fed\u2019s latest meeting saw \u201cparticipants emphasizing that the cost of taking too little action to bring down inflation likely outweighed the cost of taking too much action,\u201d according to the newly released minutes, the <a href=\"https:\/\/www.ft.com\/content\/fb80edad-f833-45ab-b945-2e9b6fbe400a\">Financial Times<\/a>reports.<\/p><p><strong>There\u2019s no one BIG STORY ABROAD<\/strong> catching the attention of the international press this morning. The financial papers are focused on the US inflation figures out later today, the Fed\u2019s likely response, and the noise coming out of DC as the World Bank and IMF meetings continue.<\/p><p><strong>Some satisfaction for those of us who dislike fake news:<\/strong> Much of the \u2018mainstream media\u2019 is taking note this morning of the nearly USD 1 bn in damages that a US court has ordered conspiracy theorist Alex Jones must pay to the families of victims of the Sandy Hook school shooting, after he called the tragedy a hoax. <a href=\"https:\/\/www.reuters.com\/legal\/jury-begins-third-day-deliberations-alex-jones-sandy-hook-defamation-trial-2022-10-12\/\">Reuters<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/jury-orders-alex-jones-to-pay-more-than-950-million-to-sandy-hook-families-for-defamation-11665604838?mod=hp_lead_pos10\">WSJ<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/nation\/2022\/10\/12\/alex-jones-sandy-hook-verdict\/\">WaPo<\/a> | <a href=\"https:\/\/apnews.com\/article\/shootings-school-connecticut-conspiracy-alex-jones-3f579380515fdd6eb59f5bf0e3e1c08f?utm_source=homepage&amp;utm_medium=TopNews&amp;utm_campaign=position_01\">AP<\/a><\/p><p><strong>***<\/strong><\/p><p><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.<\/p><p>***<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p><strong>MARKET WATCH- <\/strong><\/p><p><strong>OPEC slashed its outlook on world oil demand for 2022 and 2023<\/strong>, citing continued inflationary pressures, an extension of China\u2019s covid-19 restrictions and slowing global economic growth, according to its monthly <a href=\"https:\/\/ent.news\/2022\/10\/OPEC_MOMR_October_2022.pdf\">oil market report (pdf)<\/a>. The oil cartel now expects global oil demand to grow 2.7% this year (up some 2.6 mn barrels per day, down 460k bpd from its earlier forecast). \u201cThe world economy has entered into a time of heightened uncertainty and rising challenges, amid ongoing high inflation levels, monetary tightening by major central banks, high sovereign debt levels in many regions as well as ongoing supply issues,\u201d it said.<\/p><p><strong>The worsened outlook sheds light on OPEC\u2019s decision <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8b8f784b-747a-4491-afeb-16b56b3aedbe\">last week<\/a><\/strong><strong> to announce its biggest production cut <\/strong>since 2020 under efforts to support dropping oil prices, a move which was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ddde4aa6-2a7c-4193-8be0-64525d45e4f2\">criticized by the US<\/a>.<\/p><p><strong>But what about next year? <\/strong>OPEC sees oil demand increasing by 2.3 mn bpd to 102 mn bpd, down 360k bpd on its previous forecast.<\/p><hr class=\"grey-line\"><p><strong>COUNTDOWN TO COP (24 days to go)-<\/strong><\/p><p><strong>Big-name finance bosses are skipping COP27, saying they have better things to do: <\/strong>Several top-level finance executives will be notably absent from COP27 in Sharm El Sheikh next month, including the CEOs of Blackrock, Citigroup, and Standard Chartered, <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/bd6c0530-a9fc-4fad-8494-58464122c3f6\">Enterprise Climate<\/a> notes this morning. The three executives all made appearances at COP26, with BlackRock and Citi among signatories of the Glasgow Financial Alliance for Net Zero, but this year the finance heavyweights will send delegations of lower-level representatives.<\/p><p><strong>Why? Bloomberg says it\u2019s because the three have \u201cmore immediate\u201d crises to deal with<\/strong> (largely related to fallout from Russia\u2019s war in Ukraine), saying the news comes as the \u201ccredibility of some net-zero pledges is in doubt.\u201d<\/p><p><strong>More COP talk: <\/strong>Foreign Minister Sameh Shoukry and UN climate chief Simon Steele talked all things COP 27 during a meeting yesterday, according to a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02qDnrnYu3xhVFHH8eWP71Y9V5Cu9yRznefVSV5fU3cNkBJMxWtxJkSHuAvempxA4ul\">statement<\/a>.<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>Bread reform committee should get House approval on Sunday:<\/strong> The House should approve Supply Minister Ali El Moselhy\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fdba61a4-ba13-4035-a2a7-51511a9b61a0\">proposal to form an ad hoc committee<\/a> to look into possible changes to the country\u2019s massive bread subsidy program during its session on Sunday, 16 October.<\/p><p><strong>The EGX is looking to drum up interest in 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>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>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egp\/\">EGP<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-minister-mohamed-maait\/\">Finance Minister Mohamed Maait<\/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\/imf\/\">IMF<\/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\/opec\/\">OPEC<\/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=\"550085\" 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=\"550085\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/550085\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550085\" class=\"content-area-description single-story post-550085 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\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=\"550086\" 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=\"550086\">\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\">Privatization<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/sfe-gets-the-ball-rolling-on-power-plant-stake-sale\/\">\r\n                            SFE gets the ball rolling on power plant stake sale                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/sfe-gets-the-ball-rolling-on-power-plant-stake-sale\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/sfe-gets-the-ball-rolling-on-power-plant-stake-sale\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/sfe-gets-the-ball-rolling-on-power-plant-stake-sale\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=SFE gets the ball rolling on power plant stake sale&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/sfe-gets-the-ball-rolling-on-power-plant-stake-sale\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/sfe-gets-the-ball-rolling-on-power-plant-stake-sale\/&title=SFE gets the ball rolling on power plant stake sale\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=SFE+gets+the+ball+rolling+on+power+plant+stake+sale+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F13%2Fsfe-gets-the-ball-rolling-on-power-plant-stake-sale%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/sfe-gets-the-ball-rolling-on-power-plant-stake-sale\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/209.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"550087\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/sfe-gets-the-ball-rolling-on-power-plant-stake-sale\/209-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/209.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"209.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/209.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/209.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550086\" class=\"content-area-description single-story post-550086 post type-post status-publish format-standard has-post-thumbnail hentry category-privatization-watch tag-elsewedy-electric tag-enterpriseam tag-hala-el-said tag-orascom-construction tag-pre-ipo-fund tag-privatization-watch tag-siemens tag-sovereign-fund-of-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-02\" class=\"content-anchor\"><\/a> <strong>Beni Suef power plant the first to go to SFE\u2019s pre-IPO fund?<\/strong> The Siemens-built, 4.8 GW combined-cycle power plant in Beni Suef has reportedly been tapped as the first of the three plants to be transferred to the Sovereign Fund of Egypt\u2019s (SFE) pre-IPO fund before the end of the year, <a href=\"https:\/\/www.asharqbusiness.com\/article\/42734\">Bloomberg Asharq<\/a>reports, citing three government sources. The SFE will offer stakes in the plant to strategic investors \u201cat a later time,\u201d the sources say.<\/p>\n<p><strong>We knew at least one of the plants would be transferred to the fund:<\/strong> Planning Minister and SFE Chairperson Hala El Said <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dde844b6-73f3-4d2f-8c09-d8a084b5720d\">said in late September<\/a> that one of the three power plants would be among the first batch of state-owned assets that will be transferred to the SFE\u2019s pre-IPO fund. El Said had said that assets worth USD 3 bn would be shipped over to the fund by mid-November.<\/p>\n<p><strong>What we don\u2019t know is exactly how the stake sales will move forward:<\/strong> \u201cThe offering could be made to a sole strategic investor or to several investors through minority stakes,\u201d one of the sources told Bloomberg Asharq. The source signaled that all options are open moving forward, with no specific timeline set for the stake sales.<\/p>\n<p><strong>This might take some time:<\/strong> The decision on when to pull the trigger on the stake sales is ultimately the SFE\u2019s to make, one of the sources said, but suggested it won\u2019t necessarily be a speedy process.<\/p>\n<p><strong>Who\u2019s interested?<\/strong> SFE head Ayman Soliman <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7db46eae-b7d1-4b4b-8b2f-83a473b0aed7\">said in April<\/a> that the Saudi Public Investment Fund (PIF) could invest in all three plants as part of Riyadh\u2019s USD 10 bn investment pledge. The sovereign wealth fund acquired <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/316415e5-ccc3-42ca-b442-80dd3b8b2e16\">minority stakes<\/a> in four EGX-listed companies worth USD 1.3 bn over the summer.<\/p>\n<p><strong>REFRESHER- <\/strong>The pre-IPO fund <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eaa81cae-e4e2-4c66-963d-b806c4ed812b\">aims to prepare state-owned enterprises<\/a> for listing on the EGX by offering an alternative to public share sales while market conditions remain volatile. The government has been planning to market companies to Gulf sovereign funds and investors in Europe and Asia during a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/faae58c4-6321-4dd6-a5c5-ac620389ca3a\">roadshow this month<\/a>. Shares held by the National Investment Bank <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dde844b6-73f3-4d2f-8c09-d8a084b5720d\">worth up to USD 3 bn<\/a> will be sold to strategic investors in the first phase, with a second similar sized phase coming later.<\/p>\n<p><strong>Background: <\/strong>Talks on a possible sale of stakes in the power plants <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/25\/actis-confirms-its-bidding-for-a-stake-in-egypts-combined-cycle-plants-6971\/\">go back to 2019<\/a> when the SFE was first established. The Beni Suef power plant is one of three three power plants with a combined generation capacity of 14.4 GW built by Siemens with partners Orascom Construction and Elsewedy Electric. The plants \u2014 one in each of Beni Suef, Burullus, and the new administrative capital \u2014 were <a href=\"https:\/\/enterprise.press\/stories\/2018\/07\/25\/el-sisi-inaugurates-combined-cycle-power-plants-gabal-el-zeit-wind-farm\/\">inaugurated in July 2018<\/a>. Each station was, at the time of commissioning, the world\u2019s largest power plant.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/elsewedy-electric\/\">Elsewedy Electric<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hala-el-said\/\">Hala El Said<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-construction\/\">Orascom Construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pre-ipo-fund\/\">pre-IPO fund<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/privatization-watch\/\">privatization watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/siemens\/\">Siemens<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550088\" 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=\"550088\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/external-debt-dips-from-all-time-high-in-4q-fy-2021-22\/\">\r\n                            External debt dips from all time high in 4Q FY 2021-22                        <\/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\/13\/external-debt-dips-from-all-time-high-in-4q-fy-2021-22\/\" 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\/13\/external-debt-dips-from-all-time-high-in-4q-fy-2021-22\/')\">\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\/13\/external-debt-dips-from-all-time-high-in-4q-fy-2021-22\/\">\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=External debt dips from all time high in 4Q FY 2021-22&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/external-debt-dips-from-all-time-high-in-4q-fy-2021-22\/\">\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\/13\/external-debt-dips-from-all-time-high-in-4q-fy-2021-22\/&title=External debt dips from all time high in 4Q FY 2021-22\">\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=External+debt+dips+from+all+time+high+in+4Q+FY+2021-22+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F13%2Fexternal-debt-dips-from-all-time-high-in-4q-fy-2021-22%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\/13\/external-debt-dips-from-all-time-high-in-4q-fy-2021-22\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/210.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"550089\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/external-debt-dips-from-all-time-high-in-4q-fy-2021-22\/210-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/210.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"210.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/210.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/210.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550088\" class=\"content-area-description single-story post-550088 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-central-bank-of-egypt tag-debt tag-economy tag-enterpriseam tag-imf wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Egypt\u2019s external debt dropped 1.3% q-o-q to USD 155.7 bn <\/strong>during the fourth quarter of last fiscal year (from April-June 2022), down from an all-time high of USD 157.8 bn the preceding quarter, according to central bank figures.<\/p>\n<p><strong>Debt is still up on last year:<\/strong> The figure is up some 12.9% y-o-y from the same quarter in the 2020-2021 fiscal year. Egypt\u2019s external position is coming under significant pressure this year thanks to a perfect storm of surging commodity prices, rising interest rates, a red-hot greenback and turmoil in the financial markets. The EGP has lost <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2e41ff0b-8134-493a-a172-34b0cd970ded\">around a quarter<\/a> of its value against the USD this year, making it even more difficult to pay out our debts.<\/p>\n<p><strong>IMF support should be just around the corner: <\/strong>We\u2019re waiting with baited breath for an <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2e41ff0b-8134-493a-a172-34b0cd970ded\">imminent announcement<\/a> on the expected emergency loan from the Fund, which will in part help us service our external debt. We could be getting anywhere from USD 3-5 bn if BNP Paribas estimates are to be believed.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/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=\"550090\" 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=\"550090\">\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\">Infrastructure<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/uae-eyes-establishing-logistics-hub-at-an-egyptian-airport\/\">\r\n                            UAE eyes establishing logistics hub at an Egyptian airport                        <\/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\/13\/uae-eyes-establishing-logistics-hub-at-an-egyptian-airport\/\" 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\/13\/uae-eyes-establishing-logistics-hub-at-an-egyptian-airport\/')\">\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\/13\/uae-eyes-establishing-logistics-hub-at-an-egyptian-airport\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=UAE eyes establishing logistics hub at an Egyptian airport&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/uae-eyes-establishing-logistics-hub-at-an-egyptian-airport\/\">\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\/13\/uae-eyes-establishing-logistics-hub-at-an-egyptian-airport\/&title=UAE eyes establishing logistics hub at an Egyptian airport\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=UAE+eyes+establishing+logistics+hub+at+an+Egyptian+airport+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F13%2Fuae-eyes-establishing-logistics-hub-at-an-egyptian-airport%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\/13\/uae-eyes-establishing-logistics-hub-at-an-egyptian-airport\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/211.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"550091\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/uae-eyes-establishing-logistics-hub-at-an-egyptian-airport\/211-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/211.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"211.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/211.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/211.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550090\" class=\"content-area-description single-story post-550090 post type-post status-publish format-standard has-post-thumbnail hentry category-infrastructure tag-enterpriseam tag-infrastructure tag-logistics tag-logistics-hub tag-uae 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>The <\/strong><strong>UAE reportedly wants <\/strong><strong>to set up a logistics hub at one of our airports:<\/strong> A consortium that includes several unnamed Emirati companies is reportedly looking at establishing a large-scale logistics hub at an unspecified Egyptian airport, <a href=\"https:\/\/bit.ly\/3CtcKY6\">Al Mal<\/a> reports, citing sources it says have knowledge of the matter. The potential logistics zone would serve air freight cargo. A ministry spokesperson did not answer inquiries from Enterprise before dispatch time this morning.<\/p>\n<p><strong>No concrete plan yet:<\/strong> Sources close to the Emirati side are cited as saying the plan is under consideration between high-level officials from the two countries. They expect to prepare and present an official offer in the coming period ahead of beginning feasibility studies. No final decision has been made on which airport would host the zone.<\/p>\n<p><strong>ON A RELATED NOTE- Civil Aviation Minister Mohamed Abbas held talks with a UAE delegation <\/strong>regarding cooperation and boosting investments in air transport earlier this week, according to a <a href=\"https:\/\/bit.ly\/3EIPHey\">statement<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics-hub\/\">logistics hub<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550092\" 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=\"550092\">\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\">Cabinet watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/egyptian-expats-get-new-cars-finmin-gets-fx-more-buildings-up-for-reconciliation\/\">\r\n                            Egyptian expats get new cars, FinMin gets FX + More buildings up for reconciliation                        <\/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\/13\/egyptian-expats-get-new-cars-finmin-gets-fx-more-buildings-up-for-reconciliation\/\" 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 cabinet decision will make it easier and cheaper for expats to import new cars while helping the state raise USDs amid an ongoing FX shortage.<\/p>\n<p><strong>A major tax break \u2014 with a twist:<\/strong> The car owner pays their vehicle import fees \u2014 including customs fees, VAT, and other taxes \u2014 upfront to the Finance Ministry in FX when they import the new car. They will then receive a full rebate on the dues in five years\u2019 time in EGP, at the USD-EGP exchange rate at that time and without interest.<\/p>\n<p><strong>REMEMBER- It\u2019s all but impossible to get your hands on a new car right now. <\/strong>The market has been hit by <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f1237459-2827-438d-96c3-8fe7a8dce26e\">rules<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/14ddd079-0875-4a96-81ca-c94fa0e38f6b\">requiring importers to get letters of credit (L\/Cs)<\/a> that limited imports to a handful of essential goods, leaving new cars and car parts stranded at ports and pushing a number of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3242bc1d-f416-47a6-a914-3ce472eb1c9f\">global car manufacturers<\/a> to suspend sales here.<\/p>\n<p><strong>So who\u2019s eligible?<\/strong> Expats must hold a valid foreign residency permit and foreign bank account. Each expat can import one car for their personal use, which must be new or less than three years old if used.<\/p>\n<p><strong>There\u2019s a time limit: <\/strong>Once the decision goes into effect, expats only have four months to pay their dues to the FinMin. They\u2019ll then be given a year to import their car of choice.<\/p>\n<p><strong>How much money are we talking about? <\/strong>Customs fees can run as high as 135% of the value of a new car, depending on the country of origin. Add to that a 15% schedule tax and a 14% VAT. It\u2019s a little lower for hybrid cars, which pay between 30-100% of their cost in customs, a 15-30% schedule tax and a 14% VAT. EVs are exempt from taxes and customs.<\/p>\n<p><strong>More details to come: <\/strong>After the decision is passed, FinMin and the central bank will share the required fees and accepted currencies according to vehicle type.<\/p>\n<p><strong>This won\u2019t be the first time Egyptians working abroad help us secure hard currency: <\/strong>Remittances are a key source of FX inflows for Egypt, recording some <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fd06a9c6-1825-4822-aba2-3a0e5c724c91\">USD 31.9 bn<\/a> during the last fiscal year.<\/p>\n<hr class=\"grey-line\">\n<p><strong>A NEW WINDOW FOR WILDCAT BUILDERS TO GO LEGIT-<\/strong><\/p>\n<p><strong>Owners of illegally built buildings could have another chance to legalize what they\u2019ve <\/strong><strong>built, <\/strong>after cabinet yesterday approved a draft law that widens the scope for property owners in violation of the building code to pay <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/df579b70-61ca-4571-b98a-c08d3b1263d0\">\u201creconciliation fees\u201d<\/a> to the government to legalize their buildings, according to a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0BQJndBwq6GoAAy3zKcuG3byX61eWE1aVSXQ1LVPCbfgKzQBssEpkBPhRaKVj9jL7l\">statement<\/a>. The draft bill allows for more owners of illegal buildings to enter the reconciliation process, provided that their buildings are structurally sound and not built on <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2880404a-32ac-4f87-9c33-52c634503eda\">land protected<\/a> by the <a href=\"https:\/\/leap.unep.org\/countries\/eg\/national-legislation\/law-no-48-1982-concerning-protection-nile-river-and-water\">Nile Protection Law<\/a> or the Antiquities Protection Law.<\/p>\n<p><strong>Exceptions \u2014 at a cost: <\/strong>The cabinet could allow reconciliation for buildings along the Nile or on land protected by the antiquities law if, for example, they are difficult to remove \u2014 but owners will pay triple the usual reconciliation fee, Cabinet Spokesman Nader Saad said in an interview with Bel Warak W El Kalam (<a href=\"https:\/\/www.youtube.com\/watch?v=EC0n6kbzRfk\">watch, runtime: 10:20<\/a>).<\/p>\n<p><strong>Similar, but not the same:<\/strong> Separate amendments to the Unified Building Code designed to crack down on unlicensed construction \u2014 which would also widen the types of properties eligible for reconciliation \u2014 are currently <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/46365d61-2678-435c-a7e7-c4e0c31454f6\">making their way through<\/a> the House. The House\u2019s Legislative and Constitutional Affairs Committee also <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/25f170e7-ebe1-4d70-bb45-d8427ccb4ed9\">last week approved<\/a> amendments to the Agriculture Act introducing harsher penalties for illegally building on agricultural land.<\/p>\n<p><strong>Gov\u2019t officials have in recent months pledged to adopt <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce9b82bd-8c20-41ad-af9a-d32e6d01ba45\">a zero-tolerance stance<\/a><\/strong> towards new illegal construction, taking <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c951a22a-6c5e-4d8a-bc92-94fb0928d696\">food subsidies<\/a> away from those who build illegally and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2880404a-32ac-4f87-9c33-52c634503eda\">referring people who illegally build on the Nile to military prosecution<\/a>. The reconciliation drive is expected to bring in c. EGP 72 bn to state coffers from around 1.8 mn buildings that are in violation of existing codes.<\/p>\n<p><strong>The cabinet also <\/strong><strong><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0396NstAmQacroTKkaFr6Reu7msQeAjdF8xPBstxuwsu1wMTzcbgXCxHbgsFoF5WUl\">approved<\/a><\/strong><strong>:<\/strong><\/p>\n<ul>\n<li><strong>Extending forei<\/strong><strong>gn operators\u2019 exemption from airport fees for <\/strong><strong>another six months<\/strong> until the end of April 2023. The exemption was set to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b928d4cf-bb03-4476-ac92-ab204195f858\">end this month<\/a>.<\/li>\n<li><strong>A draft president<\/strong><strong>ial decision to repurpose public land and properties <\/strong>in a number of governorates. The Finance Ministry will decide how to repurpose them.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cabinet-watch\/\">cabinet watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550094\" 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=\"550094\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/550094\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550094\" class=\"content-area-description single-story post-550094 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\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=\"550095\" 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=\"550095\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/sidpec-wants-100-of-ethydco\/\">\r\n                            Sidpec wants 100% of Ethydco                        <\/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\/13\/sidpec-wants-100-of-ethydco\/\" 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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Remaining shareholders include Gasco, Al Ahly Capital Holding, the National Investment Bank, Banque Misr and Nasser Social Bank.<\/p>\n<p><strong>The potential upsides:<\/strong> \u201cIf the acquisition goes through, it will give both companies the chance to boost their revenues and increase their production capacity,\u201d Ibrahim said.<\/p>\n<p><strong>More M&A ahead: <\/strong>Sidpec has other local acquisitions in the pipeline after the Ethydco transaction, Ibrahim said.<\/p>\n<p><strong>Advisors- <\/strong>Sidpec has tapped NI Capital as advisor, according to a <a href=\"https:\/\/ent.news\/2022\/10\/Sidpec-to-study-acquisition.pdf\">statement (pdf)<\/a> to the bourse. Ibrahim said that neither side has yet appointed legal or financial advisors.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/acquiristion\/\">Acquiristion<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sidi-kerir-petrochemicals\/\">Sidi Kerir Petrochemicals<\/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=\"550097\" 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=\"550097\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/telda-bags-usd-20-mn-round-flapkap-lands-its-second-round-this-year\/\">\r\n                            Telda bags USD 20 mn round + FlapKap lands its second round this year                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/telda-bags-usd-20-mn-round-flapkap-lands-its-second-round-this-year\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/telda-bags-usd-20-mn-round-flapkap-lands-its-second-round-this-year\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/telda-bags-usd-20-mn-round-flapkap-lands-its-second-round-this-year\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Telda bags USD 20 mn round + FlapKap lands its second round this year&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/telda-bags-usd-20-mn-round-flapkap-lands-its-second-round-this-year\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/telda-bags-usd-20-mn-round-flapkap-lands-its-second-round-this-year\/&title=Telda bags USD 20 mn round + FlapKap lands its second round this year\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Telda+bags+USD+20+mn+round+%2B+FlapKap+lands+its+second+round+this+year+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F13%2Ftelda-bags-usd-20-mn-round-flapkap-lands-its-second-round-this-year%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/telda-bags-usd-20-mn-round-flapkap-lands-its-second-round-this-year\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/217.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"550098\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/telda-bags-usd-20-mn-round-flapkap-lands-its-second-round-this-year\/217-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/217.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"217.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/217.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/217.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550097\" class=\"content-area-description single-story post-550097 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-a15 tag-enterpriseam tag-flapkap tag-startup-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a><strong> It\u2019s shaping up to be a big week for VC inflows to local startups:<\/strong> Yesterday it was pharma companies, today it\u2019s local fintech firms snagging funding rounds from local and international investors. It\u2019s encouraging news for Planet Startup as global economic woes see many local firms tightening their belts.<\/p>\n<p><strong>Digital banking app <\/strong><strong><a href=\"https:\/\/telda.app\/\">Telda<\/a><\/strong><strong> raised USD 20 mn in a seed round <\/strong>led by long-time investor <a href=\"https:\/\/www.globalfounderscapital.com\/\">Global Founders Capital (GFC)<\/a>. Existing investor Silicon Valley-based VC firm <a href=\"https:\/\/www.sequoiacap.com\/\">Sequoia Capital<\/a> also participated, as did newcomer Jack Dorsey\u2019s <a href=\"https:\/\/block.xyz\/\">Block<\/a> (formerly known as Square), <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-12\/jack-dorsey-s-block-sequoia-back-egyptian-fintech-firm-telda\">Bloomberg<\/a> reports.<\/p>\n<p><strong>Where the money\u2019s going: <\/strong>The money will help the company step into new markets and expand its product offering.<\/p>\n<p><strong>This is a big raise \u2014 especially considering current fundraising conditions:<\/strong> VC funding both here and abroad has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c5b68082-bbb6-4931-8d59-5450252ef63c\">slowed to a trickle<\/a> in recent months as tighter global monetary policy sees investors pull out of riskier assets and markets. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ea5eb9c7-6b0c-428f-a102-78b147e5f7c9\">Down rounds<\/a> \u2014 when a company sells shares at a lower price than its previous funding round \u2014 are now the norm, while the implosion of local startup <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7c5e3f0d-4cdd-43d5-89e9-d9b3ad06978f\">Capiter<\/a> has some in the startup scene predicting that more young companies could soon fold.<\/p>\n<p><strong>What they said: <\/strong>\u201cIn Egypt dealing with money is still a complicated matter; making it easy and straightforward will have a large impact not just on the economy but also the society as a whole,\u201d said co-founder Youssef Sholqamy.<\/p>\n<p><strong>About Telda: <\/strong>The company was founded last year by Swvl co-founder Ahmed Sabbah (<a href=\"https:\/\/www.linkedin.com\/in\/ahmed-sabbah-064726bb\/\">LinkedIn<\/a>) and former Uber senior engineer Sholqamy (<a href=\"https:\/\/www.linkedin.com\/in\/youssefsholqamy\/\">LinkedIn<\/a>). Shortly after its launch, the company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1f1ed149-d4e7-4701-9c3a-b1413e1d1791\">secured USD 5 mn in a pre-seed<\/a> funding round led by Sequoia Capital, with participation from GFC and Class 5 Global. Telda <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fef0998d-6737-4708-a4ed-777c791ea946\">started issuing<\/a> its prepaid cards in partnership with Banque du Caire over the summer.<\/p>\n<p><strong>The news also got coverage from <\/strong><a href=\"https:\/\/techcrunch.com\/2022\/10\/12\/egyptian-consumer-money-app-telda-raises-20m-from-gfc-sequoia-capital-and-block\/\">TechCrunch<\/a> and <a href=\"https:\/\/waya.media\/telda-egypts-consumer-money-app-raises-20-million-in-a-seed-round\/\">Waya<\/a>.<\/p>\n<p><strong>FLAPKAP RAISES USD 3.6 MN SEED ROUND-<\/strong><\/p>\n<p><strong>MEA fintech startup pl<\/strong><strong>atform <\/strong><strong><a href=\"https:\/\/www.flapkap.com\/\">FlapKap<\/a><\/strong><strong> raised USD 3.6 mn in a seed round, <\/strong>according to a <a href=\"https:\/\/ent.news\/2022\/10\/Flapkap-EN.pdf\">press<\/a><a href=\"https:\/\/ent.news\/2022\/10\/Flapkap-EN.pdf\">release<\/a><a href=\"https:\/\/ent.news\/2022\/10\/Flapkap-EN.pdf\">(pdf)<\/a>. The round saw participation from follow-on investor <a href=\"https:\/\/www.a15.com\/\">A15<\/a> as well as Bolt by <a href=\"https:\/\/www.qedinvestors.com\/\">QED<\/a>, <a href=\"https:\/\/www.nclude.com\/\">Nclude<\/a>, and <a href=\"https:\/\/www.outliers.vc\/\">Outliers<\/a>. This is the company\u2019s second round <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c7f73786-7be4-430c-a082-b04228f461ec\">this year<\/a>, after it raised USD 1.2 mn in a March round led by A15.<\/p>\n<p><strong>Where the money is going: <\/strong>FlapKap will sign on more e-commerce players in the region to its revenue-based financing plans. The company hopes to strengthen its presence in Saudi Arabia, the UAE, and Egypt, according to the press release.<\/p>\n<p><strong>What FlapKap does: <\/strong>The company offers financing to e-commerce businesses that have been operational for at least six months and have limited access to traditional financing through banks or VCs. Merchants can get upfront financing to scale their inventory and digital marketing, which they pay back as a percentage of revenues. FlapKap also offers AI-based insights and financial data analytics.<\/p>\n<p><strong>Founders: <\/strong>CEO Ahmad Coucha (<a href=\"https:\/\/eg.linkedin.com\/in\/ahmad-coucha?trk=public_profile_browsemap\">LinkedIn<\/a>), co-founder of MENA digital agency Kijami, co-founded the company with Khaled Nassef (<a href=\"https:\/\/eg.linkedin.com\/in\/knassef\">LinkedIn<\/a>). Sherif Bichara (<a href=\"https:\/\/www.linkedin.com\/in\/sherif-bichara-ab15aa13b\">LinkedIn<\/a>) and Adel Hodroj (<a href=\"https:\/\/sa.linkedin.com\/in\/adel-hodroj-50271618\">LinkedIn<\/a>) also serve on the founding team.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/a15\/\">A15<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/flapkap\/\">FlapKap<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550099\" 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=\"550099\">\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\">Commodities<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/gasc-will-let-private-mills-buy-its-wheat-to-help-ease-imports-squeeze\/\">\r\n                            GASC will let private mills buy its wheat to help ease imports squeeze                        <\/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\/13\/gasc-will-let-private-mills-buy-its-wheat-to-help-ease-imports-squeeze\/\" 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\/13\/gasc-will-let-private-mills-buy-its-wheat-to-help-ease-imports-squeeze\/')\">\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\/13\/gasc-will-let-private-mills-buy-its-wheat-to-help-ease-imports-squeeze\/\">\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=GASC will let private mills buy its wheat to help ease imports squeeze&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/gasc-will-let-private-mills-buy-its-wheat-to-help-ease-imports-squeeze\/\">\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\/13\/gasc-will-let-private-mills-buy-its-wheat-to-help-ease-imports-squeeze\/&title=GASC will let private mills buy its wheat to help ease imports squeeze\">\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=GASC+will+let+private+mills+buy+its+wheat+to+help+ease+imports+squeeze+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F13%2Fgasc-will-let-private-mills-buy-its-wheat-to-help-ease-imports-squeeze%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\/13\/gasc-will-let-private-mills-buy-its-wheat-to-help-ease-imports-squeeze\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/218.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"550100\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/gasc-will-let-private-mills-buy-its-wheat-to-help-ease-imports-squeeze\/218-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/218.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"218.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/218.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/218.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550099\" class=\"content-area-description single-story post-550099 post type-post status-publish format-standard has-post-thumbnail hentry category-commodities tag-commodities tag-enterpriseam tag-foreign-exchange tag-gasc tag-supply-ministry tag-wheat wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>GASC to sell wheat to struggling private sector: <\/strong>State grain buyer GASC will on Saturday start selling wheat to mills producing 72% extraction wheat flour, which is used to make unsubsidized bread, pasta, and other foods. The move will last for one month and comes to prevent a rise in flour prices, the Supply Ministry said in a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02pgfcgnoHNvpWrAS2t5tEXFtmoYhjWsZKibyjNRKbUtQFJNkN7fb5SGNC4xbFaR3Bl\">statement<\/a>, amid reports that private mills are struggling to get their wheat purchases out of ports amid the country\u2019s FX shortage.<\/p>\n<p><strong>The price list:<\/strong> Mills can buy wheat at EGP 8.7k per ton. Pasta makers operating under GASC\u2019s framework will be able to buy flour from the state grain buyer at EGP 10k a ton.<\/p>\n<p><strong>The Supply Ministry is working with the central bank to secure letters of credit <\/strong>for wheat importers and get their shipments released from ports, the statement reads, saying the move would help stabilize flour and bread prices in the short term.<\/p>\n<p><strong>Some 700k tons of wheat destined for private sector mills is stuck at ports<\/strong>, <a href=\"https:\/\/www.reuters.com\/article\/idUSKBN2R720P\">Reuters<\/a>reports traders and Egypt\u2019s chamber of cereals as saying. Importers are struggling to find the hard currency needed to get shipments released, says the newswire, leading some 80% of private mills to shut up shop.<\/p>\n<p><strong>REMEMBER- The government imposed price controls on unsubsidized bread<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/14d38998-c17f-4e56-b6e5-ddb78d1e04f9\">in March<\/a> as a temporary, three-month measure, after war in Ukraine sent global wheat markets spiraling. Wheat prices on the international markets have since cooled, but FX pressures, supply chain snarls, and global monetary tightening have meant food price inflation remains elevated.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-exchange\/\">foreign exchange<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gasc\/\">GASC<\/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\/wheat\/\">wheat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550101\" 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=\"550101\">\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\">Kudos<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/twelve-influential-young-egyptians-make-forbes-middle-east-list\/\">\r\n                            Twelve influential young Egyptians make Forbes Middle East list                        <\/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\/13\/twelve-influential-young-egyptians-make-forbes-middle-east-list\/\" 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\/13\/twelve-influential-young-egyptians-make-forbes-middle-east-list\/')\">\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\/13\/twelve-influential-young-egyptians-make-forbes-middle-east-list\/\">\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=Twelve influential young Egyptians make Forbes Middle East list&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/twelve-influential-young-egyptians-make-forbes-middle-east-list\/\">\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\/13\/twelve-influential-young-egyptians-make-forbes-middle-east-list\/&title=Twelve influential young Egyptians make Forbes Middle East list\">\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=Twelve+influential+young+Egyptians+make+Forbes+Middle+East+list+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F13%2Ftwelve-influential-young-egyptians-make-forbes-middle-east-list%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\/13\/twelve-influential-young-egyptians-make-forbes-middle-east-list\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550101\" class=\"content-area-description single-story post-550101 post type-post status-publish format-standard hentry category-kudos tag-enterpriseam tag-forbes tag-karmsolar tag-kudos wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>12 Egyptians were named in the <\/strong><strong><a href=\"https:\/\/www.forbesmiddleeast.com\/lists\/30-under-30-2022\/\">Forbes Middle East 30 Under 30<\/a><\/strong><strong>list<\/strong>, including entrepreneurs, creatives and athletes making their mark on the region. This year\u2019s list features 35 individuals from 13 nationalities with the largest number of entries from Egypt, followed by six from Lebanon and three each from Oman and Saudi Arabia. The Egyptians who made the list:<\/p>\n<ul>\n<li><strong>Ibrahim Mohamed<\/strong> (<a href=\"https:\/\/www.linkedin.com\/in\/ibrahim-mohamed-670ba4143\/?originalSubdomain=eg\">LinkedIn<\/a>), co-founder of <a href=\"https:\/\/homzmart.com\/\">Homzmart<\/a><\/li>\n<li><strong>Ahmed El Ghandour<\/strong> (<a href=\"https:\/\/www.linkedin.com\/in\/ahmedelghandour\/?originalSubdomain=eg\">LinkedIn<\/a>) and <strong>Mohamad Hosam<\/strong> (<a href=\"https:\/\/www.linkedin.com\/in\/mohamadhosam\/\">LinkedIn<\/a>), co-founders of <a href=\"https:\/\/www.youtube.com\/channel\/UCqW7G8SmyeEeQYzLOk5tdSg\">El Da7ee7<\/a><\/li>\n<li><strong>Mohamed Algawish<\/strong> and <strong>Mustafa Abdulmoneim<\/strong>, co-founders of <a href=\"https:\/\/www.ischooltech.com\/?fbclid=IwAR3-nw6L4NDxlXcqqtSD7T3AhcQid9QI9AYtNgnKUfXFI4g6wnj79fTwZ34\">iSchool<\/a><\/li>\n<li><strong>Mousa Salem<\/strong> (<a href=\"https:\/\/www.linkedin.com\/in\/mousa-salem-b40726219\/\">LinkedIn<\/a>), co-founder of <a href=\"https:\/\/www.colibricare-med.com\/\">Colibri Care<\/a><\/li>\n<li><strong>Fatma El Shenawy<\/strong> (<a href=\"https:\/\/www.linkedin.com\/in\/fatma-el-shenawy-685b8164\/\">LinkedIn<\/a>), co-founder of <a href=\"https:\/\/khazna.app\/\">Khazna<\/a><\/li>\n<li><strong>Maryam Haytham Esmat<\/strong> (<a href=\"https:\/\/www.linkedin.com\/in\/maryamhaythamesmat\/\">LinkedIn<\/a>), astrophysicist<\/li>\n<li><strong>Belal El Megharbel<\/strong> (<a href=\"https:\/\/www.linkedin.com\/in\/belal-el-megharbel-34718023\/\">LinkedIn<\/a>), co-founder of <a href=\"https:\/\/www.maxab.io\/\">MaxAB<\/a><\/li>\n<li><strong>Dina Meshref <\/strong>(<a href=\"https:\/\/www.linkedin.com\/in\/dina-meshref-a96303b3\/\">LinkedIn<\/a>), professional table tennis player<\/li>\n<li><strong>Nouran Gohar<\/strong>, <a href=\"http:\/\/www.squashinfo.com\/players\/6250-nouran-gohar\">world number one<\/a> woman squash player<\/li>\n<li><strong>Hadia Ghaleb <\/strong>(<a href=\"https:\/\/www.linkedin.com\/in\/hadiaghaleb\/?originalSubdomain=ae\">LinkedIn<\/a>), founder of<a href=\"http:\/\/www.ghalebph.com\/\">GPH<\/a> and the <a href=\"https:\/\/hadiaghaleb.com\/ar-eg\">Hadia Ghaleb Brand<\/a><\/li>\n<\/ul>\n<p><strong>KarmSolar was featured in one of <\/strong><strong><a href=\"https:\/\/fortune.com\/change-the-world\/\">Fortune<\/a><\/strong><strong>\u2019s 2022 Change The World list<\/strong>, coming in at number 41 on a list of 50 impactful companies including PayPal and Alibaba. The Egyptian solar company is the only energy company included in the ranking.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/forbes\/\">Forbes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/karmsolar\/\">KarmSolar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kudos\/\">KUDOS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550102\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"550102\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/550102\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550102\" class=\"content-area-description single-story post-550102 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/www.sodic.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/Sodic-25_ART_1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550103\" 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=\"550103\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/last-nights-talk-shows-of-expat-cars-and-wildcat-buildings\/\">\r\n                            Last Night\u2019s Talk Shows: Of expat cars and wildcat buildings                        <\/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\/13\/last-nights-talk-shows-of-expat-cars-and-wildcat-buildings\/\" 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\/13\/last-nights-talk-shows-of-expat-cars-and-wildcat-buildings\/')\">\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\/13\/last-nights-talk-shows-of-expat-cars-and-wildcat-buildings\/\">\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: Of expat cars and wildcat buildings&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/last-nights-talk-shows-of-expat-cars-and-wildcat-buildings\/\">\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\/13\/last-nights-talk-shows-of-expat-cars-and-wildcat-buildings\/&title=Last Night\u2019s Talk Shows: Of expat cars and wildcat buildings\">\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+Of+expat+cars+and+wildcat+buildings+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F13%2Flast-nights-talk-shows-of-expat-cars-and-wildcat-buildings%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\/13\/last-nights-talk-shows-of-expat-cars-and-wildcat-buildings\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550103\" class=\"content-area-description single-story post-550103 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-building-code tag-construction 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>All eyes were on the outcomes of Wednesday\u2019s cabinet meeting during last <\/strong><strong>night\u2019s talk shows. <\/strong>The cabinet passed a decision giving tax breaks to Egyptian expats importing new cars, and a draft law allowing more illegal buildings to go legit. We dive into both decisions in our Legislation Watch section, above.<\/p>\n<p><strong>Tax breaks on new car imports have long been<\/strong> <strong>in demand by Egyptian expats<\/strong> and former cabinet ministers tried to make it happen, Cabinet Spokesman Nader Saad told Ala Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=rUjCg1ixDr0\">watch, runtime: 4:17<\/a> | <a href=\"https:\/\/www.youtube.com\/watch?v=nc_UeUVIElY\">3:04<\/a> |<a href=\"https:\/\/www.youtube.com\/watch?v=pkl0Gn4iMCw\">3:04<\/a>).<\/p>\n<p><strong>The cabinet kept the window tight to protect car dealers: <\/strong>The initiative will only last four months and is limited to one car per person in efforts not to hurt local car sellers, Saad said. He also joined Masaa DMC to expand on the decision (<a href=\"https:\/\/www.youtube.com\/watch?v=Hr8FIM8WyA0\">watch, runtime: 12:05<\/a>).<\/p>\n<p><strong>The pundits also took note of a draft bill passed by the cabinet that would allow for more <\/strong><strong>illegal buildings to get their status reconciled. <\/strong>Applying for reconciliation will give owners the comfort of knowing their building is a legal entity and no one can kick them out of it, Rep. Ahmed El Seginy said on Ala Mas\u2019ouletty (<a href=\"https:\/\/www.youtube.com\/watch?v=b02QjiYRQzs\">watch, runtime: 4:42<\/a>).<\/p>\n<p><strong>New violations will not be tolerated: <\/strong>The government can use aerial photography to spot new illegal construction, El Seginy added.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/building-code\/\">building code<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/construction\/\">construction<\/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=\"550104\" 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                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class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n      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alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-q2yt8lm\" data-v=\"4\" data-block-id=\"q2yt8lm\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-q2yt8lm-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-q2yt8lm-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27487.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Live More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-4d0y15v\" data-v=\"4\" data-block-id=\"4d0y15v\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-4d0y15v-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-4d0y15v-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-z8eva0l\" data-v=\"4\" data-block-id=\"z8eva0l\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-z8eva0l-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-z8eva0l-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550105\" 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=\"550105\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/egypt-in-the-news-yet-more-cop\/\">\r\n                            Egypt in the News: Yet more COP                        <\/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 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target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/egypt-in-the-news-yet-more-cop\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt in the News: Yet more COP&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/egypt-in-the-news-yet-more-cop\/\">\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\/13\/egypt-in-the-news-yet-more-cop\/&title=Egypt in the News: Yet more COP\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+in+the+News%3A+Yet+more+COP+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F13%2Fegypt-in-the-news-yet-more-cop%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\/13\/egypt-in-the-news-yet-more-cop\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550105\" class=\"content-area-description single-story post-550105 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-cop27 tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The foreign press has a smattering of green stories on Egypt for us this morning: <\/strong><a href=\"https:\/\/news.sky.com\/story\/cop27-everything-you-need-to-know-about-the-united-nations-climate-talks-in-egypt-12714694\">Sky<\/a><a href=\"https:\/\/news.sky.com\/story\/cop27-everything-you-need-to-know-about-the-united-nations-climate-talks-in-egypt-12714694\">News<\/a> explains the geopolitical context of the COP27 summit. Reuters has a clip on a Cairo grocery store that grows its own produce using a hydroponic fridge from local startup Schaduf. (<a href=\"https:\/\/twitter.com\/Reuters\/status\/1580303544393031680?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1580303544393031680%7Ctwgr%5E8195f34b484da7f49497e3284e699d16c5ff1d62%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.latestly.com%2Fsocially%2Fworld%2Fthese-vegetables-are-grown-inside-a-grocery-store-in-cairo-egypt-with-the-help-of-a-latest-tweet-by-reuters-4323166.html\">watch, runtime: 1:55<\/a>).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cop27\/\">COP27<\/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=\"550106\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550107\" 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=\"550107\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/egas-the-other-pif-plus-news-from-btech-bny-mellon-and-cira\/\">\r\n                            EGAS + the \u2018other\u2019 PIF. Plus; News from BTECH, BNY Mellon and CIRA                        <\/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\/13\/egas-the-other-pif-plus-news-from-btech-bny-mellon-and-cira\/\" 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\/13\/egas-the-other-pif-plus-news-from-btech-bny-mellon-and-cira\/')\">\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\/13\/egas-the-other-pif-plus-news-from-btech-bny-mellon-and-cira\/\">\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=EGAS + the \u2018other\u2019 PIF. Plus; News from BTECH, BNY Mellon and CIRA&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/egas-the-other-pif-plus-news-from-btech-bny-mellon-and-cira\/\">\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\/13\/egas-the-other-pif-plus-news-from-btech-bny-mellon-and-cira\/&title=EGAS + the \u2018other\u2019 PIF. Plus; News from BTECH, BNY Mellon and CIRA\">\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=EGAS+%2B+the+%E2%80%98other%E2%80%99+PIF.+Plus%3B+News+from+BTECH%2C+BNY+Mellon+and+CIRA+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F13%2Fegas-the-other-pif-plus-news-from-btech-bny-mellon-and-cira%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\/13\/egas-the-other-pif-plus-news-from-btech-bny-mellon-and-cira\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550107\" class=\"content-area-description single-story post-550107 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-cds tag-cira-education tag-civil-society tag-e tag-ega tag-enterpriseam tag-gaza tag-metaverse tag-oil-and-gas 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>EGAS is closing in on an agreement with the Palestine Investment Fund to <\/strong><strong>develop the Gaza Marine offshore gas field<\/strong>, <a href=\"https:\/\/bit.ly\/3Cv2v5x\">Bloomberg Asharq<\/a> reports, citing sources it says have knowledge of the matter. EGAS <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3613f080-5d75-4b85-af31-1b66fcda3204\">signed an MoU<\/a> on the project with the Palestine Investment Fund last year. Gas extraction is expected to begin within three years of signing the final agreement. The field, located 22 nautical miles off the coast of the Gaza Strip, contains an estimated stock of 1 tn cubic feet of gas, which could be pumped for 10 to 12 years. <a href=\"https:\/\/www.reuters.com\/business\/energy\/egypt-is-set-take-part-developing-gazas-offshore-gas-field-officials-2022-10-12\/\">Reuters<\/a> also had the story.<\/p>\n<p><strong>BTECH launches innovation hub: <\/strong>Electronics retail giant BTECH has launched b_labs, a tech innovation hub designed to create solutions and systems for the company, according to a <a href=\"https:\/\/ent.news\/2022\/10\/b_labs-PRL-En.pdf\">statement (pdf)<\/a>. The company will look to attract \u201chundreds\u201d of tech entrepreneurs to build solutions servicing BTECH\u2019s different business verticals, with b_labs kicking off a training academy at a later stage, the statement says.<\/p>\n<p><strong>BNY Mellon<\/strong> says it has cut transfer times between China and Egypt to three hours from at least two days previously using its new Swift Go service. The bank was intermediary between QNB Al Ahly and Shanghai Pudong Development Bank on the transfer, it said in a <a href=\"https:\/\/ent.news\/2022\/10\/PRESS-RELEASE_BNY-Mellon-SWIFT-Go_first-of-its-kind-transaction_vf.pdf\">statement, pdf<\/a>.<\/p>\n<p><strong>CIRA <\/strong>has 32.2k students enrolled in its schools (up 5.6% y-o-y) and 16k students enrolled in its universities (up 14.3% y-o-y) for the academic year 2022\/2023. (<a href=\"https:\/\/ent.news\/2022\/10\/CIRAs-Admissions-Report-2023.pdf\">Statement, pdf<\/a>)<\/p>\n<p><strong>ALSO- <\/strong><strong>NGOs have another six months<\/strong> \u2014 until 11 April, 2023 \u2014 to<strong> legalize their <\/strong><strong>status <\/strong>in the country, after the Social Solidarity Ministry extended the deadline. (<a href=\"https:\/\/www.facebook.com\/MoSS.Egypt\/posts\/pfbid022Z8PMdYhFTTY53BZuLZR7AmsxBYgQTFdGYHiQwP3R4hTQ8QaHZS18R3v98bUhPUHl\">Statement<\/a>)<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/cds\/\">CDs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cira-education\/\">CIRA Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/civil-society\/\">civil society<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e\/\">e&amp;<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ega\/\">EGA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/metaverse\/\">metaverse<\/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<section id=\"550108\" 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=\"550108\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/planet-finance-things-are-not-looking-up-for-the-uk-economy\/\">\r\n                            Planet Finance: Things are not looking up for the UK economy                        <\/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\/13\/planet-finance-things-are-not-looking-up-for-the-uk-economy\/\" 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\/13\/planet-finance-things-are-not-looking-up-for-the-uk-economy\/')\">\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\/13\/planet-finance-things-are-not-looking-up-for-the-uk-economy\/\">\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=Planet Finance: Things are not looking up for the UK economy&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/planet-finance-things-are-not-looking-up-for-the-uk-economy\/\">\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\/13\/planet-finance-things-are-not-looking-up-for-the-uk-economy\/&title=Planet Finance: Things are not looking up for the UK economy\">\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=Planet+Finance%3A+Things+are+not+looking+up+for+the+UK+economy+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F13%2Fplanet-finance-things-are-not-looking-up-for-the-uk-economy%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\/13\/planet-finance-things-are-not-looking-up-for-the-uk-economy\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550108\" class=\"content-area-description single-story post-550108 post type-post status-publish format-standard hentry category-planet-finance tag-arabin-drilling tag-bonds tag-economy tag-enterpriseam tag-financial-markets tag-ipo-watch tag-planet-finance tag-saudi-arabia tag-uk wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-10\"><\/a> <strong>Is a recession looming for the UK?<\/strong> The UK economy contracted unexpectedly by 0.3% in August as production rates fell spelling recessionary risks, according to data from the <a href=\"https:\/\/www.ons.gov.uk\/economy\/grossdomesticproductgdp\/bulletins\/gdpmonthlyestimateuk\/august2022\">Office for National Statistics<\/a>(ONS). The drop was mainly driven by a dip of 1.8% in production fuelled by lower manufacturing rates. A <a href=\"https:\/\/www.reuters.com\/markets\/europe\/uk-economy-shrinks-slightly-august-2022-10-12\/\">Reuters<\/a> poll of economists had expected the economy to remain unchanged in August, but figures are down from July when the economy grew by 0.1%.<\/p><p><strong>SOUND SMART- What counts as a recession? <\/strong>The word is being bandied about an awful lot of late, especially after the IMF <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/46c9c082-32b8-4cee-88a1-fe137c62814f\">yesterday said<\/a> it expects more than a third of global economies to contract this year or next. As a rule of thumb, a recession is two consecutive quarters of contraction.<\/p><p><strong>Meanwhile, UK financial markets were once again plunged into turmoil yesterday<\/strong> after the Bank of England insisted it would not extend its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ee92ec79-abd6-4915-914a-af2dc1415707\">emergency bond-buying program<\/a> past Friday, the <a href=\"https:\/\/www.bbc.com\/news\/business-63230008\">BBC<\/a> reports. <a href=\"https:\/\/www.ft.com\/content\/87a5b7bf-6786-427f-89d6-96b736dcb814\">Reports<\/a> earlier in the day suggested the BoE had privately told bankers it could extend the program. Government borrowing costs briefly hit their highest since 2008 on the news amid a major selloff in the bond markets. The UK is grappling with <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ee92ec79-abd6-4915-914a-af2dc1415707\">bond turmoil<\/a> \u2014 including a gilt market crisis \u2014 and a weakening currency after investors were spooked by an ill-advised mini-budget including steep tax cuts from PM Liz Truss.<\/p><p><strong>It could be a rough Monday:<\/strong> If the fire sale intensifies on Monday and \u201cit all breaks loose,\u201d the central bank may be forced to intervene in the markets once again, one analyst told the Beeb.<\/p><p><strong>ALSO ON PLANET FINANCE- <\/strong><\/p><ul>\n<li><strong>Arabian Drilling IPO subscription 61x oversubscribed:<\/strong> Saudi drilling firm Arabian Drilling attracted USD 43 bn in orders in its bookbuilding process, making the offering 61x oversubscribed. The company set the final share price for its IPO at SAR 100 (USD 26.6) per share, making the offering worth USD 712 mn. (<a href=\"https:\/\/www.arabdrill.com\/IPO\/downloads\/Arabian%20Drilling%20-%20Pricing%20-%2011.10.22.pdf\">Statement<\/a>)<\/li>\n<\/ul><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>9,801<\/p>\n<\/td>\n<td>\n<p>-0.7% (YTD: -18.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 19.62<\/p>\n<\/td>\n<td>\n<p>Sell 19.73<\/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 19.65<\/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>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-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>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>11,551<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: +2.4%)<\/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>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>9,734<\/p>\n<\/td>\n<td>\n<p>-0.2% (YTD: +14.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,325<\/p>\n<\/td>\n<td>\n<p>+0.2% (YTD: +4.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>3,577<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: -25.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>6,826<\/p>\n<\/td>\n<td>\n<p>-0.9% (YTD: -7.6%)<\/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>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td>\n<p>3,332<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: -22.5%)<\/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 92.42<\/p>\n<\/td>\n<td>\n<p>-0.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 6.44<\/p>\n<\/td>\n<td>\n<p>+0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,681.50<\/p>\n<\/td>\n<td>\n<p>+0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 19,139<\/p>\n<\/td>\n<td>\n<p>+0.2% (YTD: -58.5%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\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 883.09 mn (9.8% below the 90-day average). Local investors were net buyers. The index is down 18.0% YTD.<\/p><p><strong>In the green: <\/strong>Alexandria Containers and Cargo Handling (+1.7%), EFG Hermes (+1.2%) and Eastern Company (+0.8%).<\/p><p><strong>In the red: <\/strong>Elsewedy Electric (-6.0%), Fawry (-4.4%) and Credit Agricole Egypt (-3.3%).<\/p><p><strong>Asian markets are in the red across the board in early trading for the second consecutive <\/strong><strong>morning. <\/strong>Futures suggest European markets are also set to open down \u2014 as they have done for most of the week. The three major US benchmarks are again bucking the trend as of this morning and look likely to open in the green later on today.<\/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\/arabin-drilling\/\">Arabin Drilling<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bonds\/\">Bonds<\/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\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uk\/\">UK<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550109\" 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=\"550109\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/my-morning-routine-kathleen-kirsch-engineering-officer-and-climate-lead-at-usaid\/\">\r\n                            My Morning Routine: Kathleen Kirsch, engineering officer and climate lead at USAID                        <\/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\/13\/my-morning-routine-kathleen-kirsch-engineering-officer-and-climate-lead-at-usaid\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Speaking to us this week is Kathleen Kirsch (<a href=\"https:\/\/www.linkedin.com\/in\/kathleen-kirsch-598a40119\/\">LinkedIn<\/a>), engineering officer and climate lead at USAID. Below are edited excerpts from our conversation:<\/p>\n<p><strong>My name is Kathleen Kirsch, or Kathy. I wear two hats for USAID Egypt.<\/strong> As an environmental engineer, I serve as an engineering officer and support a lot of work on our water and wastewater utilities team. I'm also the climate integration lead for the mission.<\/p>\n<p><strong>Not much is typical in my work day anymore, as we\u2019re focused on supporting the efforts at COP27. <\/strong>In line with the release of our new agency climate strategy this past year, there have been a lot of pivots as we seek mainstream climate change integration in all our programs \u2014 from food security programming, to water and wastewater programming, our economic growth activities, and our education and health projects. USAID Egypt works across all of these big broad technical areas, but climate change impacts every single one of them.<\/p>\n<p><strong>The impacts of climate change are cross-cutting, so our response must also be. <\/strong>We're worried, like many people here in Egypt \u2014 a country that is highly vulnerable to the adverse effects of climate change on things like water scarcity, drought, extreme heat, rising sea levels, and food insecurity.<\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/gain.nd.edu\/our-work\/country-index\/\">Notre Dame GAIN index<\/a><\/strong><strong> has Egypt as the 83rd most vulnerable country and the 129th most ready country for climate change<\/strong>. So I think that we are looking to mainstream climate change integration because it\u2019s so cross-cutting. As we look ahead to COP27, we're in more of a preparatory mode at this point. Our climate work was well underway before COP27 and will continue after as well.<\/p>\n<p><strong>In the morning, I like to wake up slowly <\/strong>so I feel fully awake when I run into work. I love to wake up, take a nice hot shower, eat breakfast, and slowly sip my coffee. I of course read the morning edition of Enterprise, and I love listening to NPR news and other podcasts over the course of the day. Some of my favorites are <a href=\"https:\/\/slate.com\/podcasts\/slow-burn\/s1\/watergate\">Slow Burn<\/a> and <a href=\"https:\/\/www.thisamericanlife.org\/\">This American Life<\/a>. It kind of depends on if I'm in a relaxing mode or if I'm news-oriented and ready for work.<\/p>\n<p><strong>One constant in my day would probably be a cup of tea and writing a to-do list of some sort.<\/strong> I'll normally have a few lists going and I try to group according to the type of task or sector. There's nothing more fulfilling than crossing something off the list. I also keep one next to my bed because I find that you don't worry about forgetting anything you jotted down and it'll be there for you the next day.<\/p>\n<p><strong>I love to disconnect when I can. <\/strong>I'll often put my phone on airplane mode and listen to an audiobook on a long walk, so I don't get distracted and I can get some fresh air, exercise, and listen to something that pulls me somewhere else. I also love a good trivia night.<\/p>\n<p><strong>My favorite activity is scuba diving, <\/strong>which I've been so blessed to do a lot of while I've been here in Egypt. It's almost meditative \u2014 just the slow sounds of breathing and the quiet stillness of being under water. Often when you go out on a dive boat, you lose mobile phone reception, so it's this beautiful forced disconnection point.<\/p>\n<p><strong>There's this song Sunlight by Yuno that I've had on repeat recently.<\/strong> It's just an ode to joy. I've been binge-watching <a href=\"https:\/\/www.netflix.com\/ae-en\/title\/70302482\">Borgen<\/a> on Netflix. It\u2019s an older show about the Danish parliament. The new season just came out, and it\u2019s kind of political escapism. The best book I read recently was <a href=\"https:\/\/www.amazon.com\/Klara-Sun-novel-Kazuo-Ishiguro-ebook\/dp\/B08B7V6CQ8\">Klara and the Sun<\/a> by Kazuo Ishiguro.<\/p>\n<p><strong>One of my favorite quotes is, \u201cHonesty without compassion is cruelty.\u201d <\/strong>Sometimes you can get so bogged down in the minutia of your day, you forget that it's the respect we give each other and how we treat each other that is most important. People will remember the relationship you had with them, not your to-do list being accomplished. Trying to remember to be kind to each other is easier said than done.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/usaid\/\">USAID<\/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=\"550111\" 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\/13\/550111\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550111\" class=\"content-area-description single-story post-550111 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>10-13 October (Monday-Thursday): <a href=\"https:\/\/www.emro.who.int\/about-who\/rc69\/index.html\">The WHO Regional Committee for the Eastern Mediterranean<\/a>, WHO Regional Office, Cairo, Egypt.<\/p>\n<p>10-14 October (Monday-Friday): Gitex Global, Dubai International Convention and Exhibition Center, 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>26-28 October (Wednesday-Friday): Egypt <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0LXkrA1yvJmfVxBuUF9fA94GeAoPkbWA44cRRaWhJEzcu69p5eGocBaQXqeH6AmaEl\">celebrates 50 years of ties<\/a> with the UAE.<\/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 Center (EIEC), 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>27 - 28 November (Thursday-Friday): The first edition of the <a href=\"https:\/\/twitter.com\/Extranewstv\/status\/1579478836366176256\">Egypt Media Forum<\/a>.<\/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): 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\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":550083,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-550082","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"9532db2d-8ea6-4bf2-9483-e88b054c85ba","teaser":"","photo_url":"https:\/\/ent.news\/2022\/10\/20.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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