{"id":550157,"date":"2022-10-17T03:57:44","date_gmt":"2022-10-17T03:57:44","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=550157"},"modified":"2025-12-15T22:55:21","modified_gmt":"2025-12-15T22:55:21","slug":"efg-hermes-sfes-egypt-education-platform-snap-up-majority-stake-in-selah-el-talmeez","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/efg-hermes-sfes-egypt-education-platform-snap-up-majority-stake-in-selah-el-talmeez\/","title":{"rendered":"EFG Hermes, SFE\u2019s Egypt Education Platform snap up majority stake in Selah El Talmeez"},"content":{"rendered":"<section id=\"550159\" 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=\"550159\">\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\/17\/this-morning-globe-in-polycrisis-but-our-sporting-stars-are-doing-great\/\">\r\n                            THIS MORNING: Globe in polycrisis, but our sporting stars are doing great                        <\/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\/17\/this-morning-globe-in-polycrisis-but-our-sporting-stars-are-doing-great\/\" 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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But on the bright side, we\u2019ve a fair bit of good news to share with you here at home this morning \u2014 even as politics outside our borders are started to look as volatile as global markets.<\/p><p><strong>THE BIG STORY here at home this morning: An education M&amp;A<\/strong>, courtesy our friends at EFG Hermes and the Sovereign Fund of Egypt\u2019s education management firm, Egypt Education Platform (EEP). The transaction sees EEP snap up a majority stake in education platform Selah El Telmeez (SET). The SFE will also acquire a minority stake in the student lifeline. We have all the details in this morning\u2019s newswell.<\/p><p><strong>MEANWHILE- We\u2019re holding our breath <\/strong>for both news that Egypt has closed an <strong>IMF facility<\/strong> \u2014 and for an <strong>agenda for the Cabinet-sponsored economic conference<\/strong> scheduled for this coming Sunday-Tuesday. There was no word on either front as of dispatch time this morning, and the IMF executive board\u2019s public agenda for the week is still blank.<\/p><p><strong>IT\u2019S SHAPING UP TO BE A HUGE WEEK in global politics:<\/strong><\/p><p><strong>#1- MPs and leading business figures are pressing UK Prime Minister Liz Truss to step <\/strong><strong>down. <\/strong>Expect more turbulence in the sterling and UK bond markets today, as the money people try to figure out where the rollercoaster of British fiscal policy is headed next under new chancellor Jeremy Hunt. The story is everywhere this morning: <a href=\"https:\/\/www.reuters.com\/world\/uk\/new-uk-finance-minister-vows-show-markets-he-can-fix-budget-2022-10-16\/\">Reuters<\/a> | <a href=\"https:\/\/apnews.com\/article\/health-business-london-covid-economy-a3ab83f5a9eb2dcae0dc6a85dba86338?utm_source=homepage&amp;utm_medium=TopNews&amp;utm_campaign=position_03\">AP<\/a> | <a href=\"https:\/\/www.ft.com\/content\/38b30b44-94c2-4775-8efb-2c95b3e8c447\">Financial Times<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-16\/truss-at-the-whim-of-markets-and-mutinous-uk-mps-in-crunch-week?srnd=premium-europe\">Bloomberg<\/a> | <a href=\"https:\/\/www.bbc.com\/news\/uk-politics-63275544\">BBC<\/a>.<\/p><p><strong>#2- Xi Jinping warned yesterday of \u201cstormy seas\u201d globally, signaling that \u201cthat U.S.-China <\/strong><strong>confrontation will continue\u201d<\/strong> as he kicked off a week that will see him appointed to an unprecedented third term in office. Xi warned of \u201cgrave international developments\u201d not seen int he past century. China\u2019s weeklong Communist Party congress is the lead story in the global business press this morning, topping the front pages of the <a href=\"https:\/\/www.ft.com\/content\/d435bbe8-51d2-42cd-8c5b-02eb6fb4440f\">Financial Times<\/a> and the <a href=\"https:\/\/www.wsj.com\/articles\/xi-jinping-china-anticorruption-11665925166?mod=hp_lead_pos7\">Wall Street Journal<\/a> and getting lots of ink in the <a href=\"https:\/\/www.nytimes.com\/2022\/10\/16\/world\/asia\/china-congress-xi-jinping.html\">New York Times<\/a>.<\/p><p><strong>#3- There are plenty of tensions in our neighborhood, too:<\/strong><\/p><ul>\n<li><strong>With an election looming, Erdogan is ramping up tensions with Greece:<\/strong> The Turkish leader recently warned that troops \u201cmay suddenly arrive one night\u201d in Greece. Of particular interest in Egypt: <a href=\"https:\/\/www.nytimes.com\/2022\/10\/16\/world\/europe\/turkey-elections-erdogan-greece.html\">Turkey\u2019s regional energy policy is near the heart the turmoil.<\/a><\/li>\n<li><strong>Uncle Joe doesn\u2019t accept that other countries have their own economic considerations. <\/strong>After threatening Saudi Arabia with vague \u201cconsequences\u201d for having slashed oil production last week, US President Joe Biden now faces pressure from Democrats to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-16\/biden-aide-says-us-security-aid-to-saudi-arabia-could-be-in-play?srnd=premium-middle-east&amp;sref=mmeFTDW1\">scale back arms sales<\/a> to (and <a href=\"https:\/\/www.ft.com\/content\/6bd53320-c960-428e-9927-58d33b686b14\">security ties<\/a> with) Riyadh.<\/li>\n<\/ul><p><strong>#4- There are 22 days left until midterm elections in the United States<\/strong>, so you can expect wall-to-wall campaign coverage in major global press outlets. Worth reading in that vein: <a href=\"https:\/\/www.nytimes.com\/2022\/10\/15\/us\/politics\/new-generation-of-combat-vets-eyeing-house-strike-from-the-right.html\">A generation of combat vets, eyeing the House, strike from the right<\/a> and<\/p><p><strong>#5- Ethiopian and Eritrean troops are pounding civilians in a small Tigrayan city<\/strong>, \u201cprovoking horror from international leaders as the death toll climbs. \u2026 Tens of thousands of troops have been deployed by the Ethiopian, Eritrean and Tigrayan armies around the city, making it one of the biggest battles in the world today,\u201d the <a href=\"https:\/\/www.theglobeandmail.com\/world\/article-ethiopia-tigray-civilian-deaths\/\">Globe &amp; Mail<\/a> reports.<\/p><p><strong>COUNTDOWN TO COP (20 days to go)- <\/strong><\/p><p><strong>Cairo Water Week enters its second day today and runs until this Wednesday, 19 <\/strong><strong>October. Some 18.5k <\/strong>attendees from 90 international and regional organizations are convening at the Nile Ritz Carlton in Cairo for the event, according to its <a href=\"https:\/\/www.cairowaterweek.eg\/\">website<\/a>. The focus of this year\u2019s edition is on preparations to discuss water resources at COP27. Catch the full agenda <a href=\"https:\/\/www.cairowaterweek.eg\/cww2022-agenda\/\">here.<\/a><\/p><p><strong>Today will see the <\/strong><strong><a href=\"https:\/\/sdg.iisd.org\/events\/unece-regional-forum-on-climate-initiatives-to-finance-climate-action-and-the-sdgs\/\">fifth Egypt and UN-led regional climate finance roundtable<\/a><\/strong><strong> ahead of <\/strong><strong>COP27<\/strong>, in Geneva, Switzerland. Catch our recent <a href=\"https:\/\/enterprise.press\/greeneconomys\/climate-finance-roadshow-begins-ahead-cop27\/\">Going Green<\/a> story on how the roundtables aim to secure investment for climate projects in developing nations ahead of COP27.<\/p><p><strong>The <\/strong><strong><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/d8c44e38-2cea-4dc5-ba60-de5aac32a3fa\">auto bill<\/a><\/strong><strong> that would regulate EV assembly<\/strong> (among other facets of the industry) is up for debate today.<\/p><p><strong>Part of our monorail will be launched during COP27<\/strong>, the cabinet said in a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0LjfNd3okro32YB8WvCxfSc9EpHijNgzvYoHui8fzGGcmoecuC3dwhhq4amthEGXZl\">statement<\/a>. Once completed, the project will span 22 stations over 56.5 km with 40 trains transporting people across Cairo. The Madbouly government plans to inaugurate the eastern segment of the monorail from the New Administrative Capital to Nasr City in time for COP27. The USD 4.5 bn project is <a href=\"https:\/\/enterprise.press\/stories\/2019\/08\/06\/egypt-signs-usd-4-5-bn-agreement-for-monorails-to-giza-and-new-capital\/\">designed, built<\/a>, supplied and operated by a consortium of <a href=\"https:\/\/www.alstom.com\/\">Alstom<\/a>, <a href=\"https:\/\/orascom.com\/\">Orascom Construction<\/a> and <a href=\"https:\/\/www.arabcont.com\/english\/\">Arab Contractors<\/a>.<\/p><p><strong>CLIMATE DIPLOMACY-<\/strong> <strong>India and Egypt want to expand their cooperation to <\/strong><strong>include renewable energy<\/strong>, Indian Foreign Minister Subrahmanyam Jaishankar said at a press conference Saturday (<a href=\"https:\/\/bit.ly\/3s1xNfQ\">watch, runtime 6:20<\/a>) following a meeting with Foreign Minister Sameh Shoukry.<\/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 soon with the results.<\/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>ICYMI- Yesterday was a super Sunday for our sports stars: <\/strong><\/p><p><strong>Gohar secures US Open title: <\/strong>Women\u2019s world number one squash player Nouran Gohar earned the 2022 US Open title after beating number three (and fellow Egyptian) Nour El Sherbini 3-1 in the championship final at the Arlen Specter US Squash Center in Philadelphia, <a href=\"https:\/\/www.psaworldtour.com\/featured-news\/elias-gohar-capture-2022-us-open-titles\/\">Squash TV<\/a> reports. <a href=\"https:\/\/www.youtube.com\/watch?v=eSV5qhzY1co\">Catch the highlights here on Youtube (watch: runtime, 11:03)<\/a>. This is Gohar\u2019s 19th PSA title and her sixth this year. The next stop on the PSA World Tour is the <a href=\"https:\/\/www.gc-cup.com\/en\/\">Grasshopper Cup<\/a>, which takes place in Switzerland from 18-23 October.<\/p><p><strong>Peru's Diego Elias (world number four) walked away with the men\u2019s title <\/strong>after Egypt\u2019s Ali Farag (world number two) withdrew from the match after sustaining an injury.<\/p><p><strong>And if you couldn\u2019t hear the cheers from where you were \u2014 Liverpool star<\/strong><strong> Mohamed Salah led the club to victory<\/strong> against Manchester City, picking the team up after it suffered its worst start to a Premier League season in a decade. <a href=\"https:\/\/www.reuters.com\/lifestyle\/sports\/super-salah-ignites-liverpool-season-man-city-lose-first-time-2022-10-16\/\">Reuters<\/a> has the report.<\/p><p><strong>SIGNS OF THE (ECONOMIC) TIMES-<\/strong><\/p><p><strong>#1- The G20 is so divided that it took the group three days <\/strong><strong>longer than usual to release a statement on its latest meeting<\/strong>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-16\/g-20-statement-issued-three-days-late-amid-divisions-over-war?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a> reports. Even then, the world\u2019s wealthiest economies couldn\u2019t get on the same page, with the statement hinting at differences over issues including the war in Ukraine, how to tackle climate change, global inflation, monetary tightening, and a strengthening USD.<\/p><p><strong>#2- \u201cPolycrisis on a global scale:\u201d <\/strong>That\u2019s the verdict of the <a href=\"https:\/\/www.ft.com\/content\/48d674a8-ae51-4f75-909c-0e5b6e38475c\">Financial Times<\/a>\u2019 editorial board this morning on what kind of a moment we\u2019re living through. \u201cIt is rare for so many engines of the global economy to be stalling all at once,\u201d the board writes.<\/p><p><strong>#3- A rising USD is hitting developed nations\u2019 currencies <\/strong><strong>harder than those of some EMs, <\/strong>in what Citigroup analysts are calling a \u201chead scratcher,\u201d <a href=\"https:\/\/enterprise.press\">Bloomberg<\/a> reports. Traditionally safer currencies like the EUR, the JPY, and the GBP are taking a beating this year as they struggle to catch up with tighter US monetary policy that has sent the USD soaring. Meanwhile, the currencies of more volatile developing markets including Brazil and Mexico are showing more resilience, thanks to their central banks stepping in fast with early, steep rate rises that have kept the carry trade attractive.<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>The Suez Canal Economic Zone (SCZone) will launch a promotional campaign ahead of <\/strong><strong>COP27<\/strong> on potential investments in the zone next week, SCZone head Walid Gamal El Din said, according to a<a href=\"https:\/\/bit.ly\/3T5CAsr\">statement<\/a>. The campaign will be launched domestically next Sunday, 23 October, before the international campaign kicks off on Monday, 24 October.<\/p><p><strong>The Madbouly government\u2019s economic conference <\/strong>takes place Sunday-Tuesday next week. We\u2019re hoping for more details in the coming days.<\/p><p><strong>Egypt and the UAE will host a two-day conference marking 50 years of bilateral ties. <\/strong>The gathering will take place next Wednesday-Friday, 26-28 October and is being produced in association with the two governments.<\/p><p><strong>The EGX is looking to drum up interest in listed companies on a roadshow <\/strong><strong>to Dubai and Abu Dhabi<\/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><p><strong>MORNING MUST READ- <\/strong><\/p><p><strong>Missed this week\u2019s Inside Industry? <\/strong>In our weekly vertical exploring all things industry and manufacturing, we <a href=\"https:\/\/enterprise.press\/industries\/enterprise-explains-golden-licenses-for-industry\/\">explained the \u201cgolden licenses\u201d<\/a> granted to industrial and other types of investors for specific types of projects, which streamlines the licensing process for certain projects. These licenses were introduced five years ago, but the government has recently been expanding their scope to spur investments.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/CIRA-Blackboard-Banner-B.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed.<\/p><p><strong>In today\u2019s issue:<\/strong> We take a look at how Egyptian universities fared in some of the most closely-watched international university rankings.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/currencies\/\">currencies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/g20\/\">G20<\/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\/sports\/\">sports<\/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                            <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=\"550160\" 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=\"550160\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/17\/550160\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550160\" class=\"content-area-description single-story post-550160 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.ticketsmarche.com\/tickets\/buy-tickets-2-cellos.html'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/2Cellos-Somabay1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n<p><strong>2CELLOS \u2014 LIVE AT SOMABAY: <\/strong>World-renowned and wildly popular cellist duo, 2CELLOS, are bringing the magic of music to Somabay on 18 November 2022. Get ready for an unforgettable night of captivating performances and electric energy. <a href=\"https:\/\/www.ticketsmarche.com\/tickets\/buy-tickets-2-cellos.html\">Book your ticket here<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550161\" 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=\"550161\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/17\/eep-acquiring-majority-stake-in-selah-el-telmeez\/\">\r\n                            EEP acquiring majority stake in Selah El Telmeez                        <\/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\/17\/eep-acquiring-majority-stake-in-selah-el-telmeez\/\" 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 SFE will separately acquire a minority stake in Selah El Telmeez, the statement said. EEP Communications Director Amr Sherif declined to disclose size of the stakes or value of the transaction when asked by Enterprise, noting that the transfer of shares is still in progress.<\/p>\n<p><strong>Selah El Telmeez is a national treasure: <\/strong>It\u2019s the leading resource for K-12 students across a variety of subjects, offering assistance to those struggling with the national curriculum and providing learning guides that mns of families across the nation rely on. Along with its staple learning guides, the company is also behind a number of Egyptian book franchises and recently launched a <a href=\"https:\/\/www.selaheltelmeez.com\/e_learning\">mobile app<\/a> offering students interactive games and educational videos.<\/p>\n<p><strong>The acquisition will help Selah El Telmeez expand digitally: <\/strong>EEP is committed to helping SET realize its growth potential by expanding its footprint of education content and teaching resources, EEP CEO Ahmed Wahby said in the statement. \u201cWe aim to accelerate the company\u2019s digital transformation to unlock new innovative learning solutions,\u201d he added.<\/p>\n<p><strong>The acquisition also aims to widen the platform\u2019s market share<\/strong><strong>: <\/strong>\u201cSelah El Telmeez does not currently target international schools, so we are keen on giving them access to international schools, starting with the schools in our own portfolio, to really deploy their digital learning platform,\u201d Sherif told Enterprise. \u201cWe\u2019re looking at governorates where Selah El Telmeez is not yet dominant, and exploring how to expand and widen market share in those areas,\u201d he added.<\/p>\n<p><strong>No changes at the top: <\/strong>SET will continue to hold on to its individual brand, with Waleed Hamdy as its CEO and Mostafa Hamdy as co-CEO, the statement read.<\/p>\n<p><strong>ADVISORS- <\/strong>EEP tapped White & Case as legal advisor, while Adsero-Ragy Soliman and Partners was counsel to the SFE. Al Tamimi & Co had sell-side duties.<\/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\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-education-platform\/\">Egypt Education Platform<\/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\/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=\"550163\" 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=\"550163\">\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\/17\/expat-car-import-scheme-could-raise-egp-50-bn-worth-of-fx-maait\/\">\r\n                            Expat car import scheme could raise EGP 50 bn worth of FX -Maait                        <\/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\/17\/expat-car-import-scheme-could-raise-egp-50-bn-worth-of-fx-maait\/\" 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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USD 2.5 bn) into Egypt under a cabinet program that will allow Egyptians living abroad to buy new cars in exchange for hard currency, Finance Minister Mohamed Maait said in an interview with Bloomberg Asharq (<a href=\"https:\/\/www.asharqbusiness.com\/article\/42892\">watch, runtime: 19:07<\/a>). Maait was speaking on the sidelines of the IMF \/ World Bank meetings, which concluded yesterday.<\/p>\n<p><strong>How will this work? <\/strong>Cabinet hasn\u2019t released details, but we expect expats abroad will be required to buy through authorized local distributors, who will place orders with manufacturers and assemblers and bring the cars into Egypt. Buyers will pay customs fees, VAT, and other taxes upfront in FX. They will then receive a full rebate on the dues in five years\u2019 time \u2014 paid EGP at the USD-EGP exchange rate at that time and without interest. Cabinet <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e5cadb00-f078-4c70-8667-8d5fc50ad151\">unveiled the contours of the program<\/a> last week.<\/p>\n<p><strong>The scheme will see the state ultimately forgo some <\/strong><strong>EGP 20-25 bn<\/strong> in customs fees, VAT, schedule tax and development fees, Maait said.<\/p>\n<p><strong>The state is hoping to see domestic distributors import between 300-500k cars<\/strong> in the four month window during which the scheme will run \u2014 a significant jump from average annual car imports of 150k a year, Maait said.<\/p>\n<p><strong>The program could go live in 2-3 weeks\u2019 time<\/strong>, Maait said. The bill establishing the scheme has wide support among MPs and so could be passed by the House of Representatives within days, Emigration Minister Soha El Gendy said in a televised interview on Saturday (<a href=\"https:\/\/www.youtube.com\/watch?v=RBoNwH8HqF8\">watch, runtime: 4:04<\/a>).<\/p>\n<p><strong>ALSO- Maait gave us some more reassurance on IMF talks: <\/strong>The FX rate flexibility the IMF is demanding will boost investor confidence, he said, and the Egyptian economy has diversified sources of revenues to help it absorb any shocks stemming from the float, Maait said. FX flexibility is a key point in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/755fe4d2-0c02-4436-ba79-498f8b62c0fd\">talks between IMF and Egyptian officials<\/a>, who came just short of finalizing an emergency loan agreement in Washington over the weekend. Egypt and the IMF have \u201cagreed on all the necessary points and the agreement will be completed very quickly,\u201d Maait added.<\/p>\n<p><strong>AND- The state\u2019s economic conference will create a roadmap for the next 4-5 years<\/strong>, Mait said. The conference takes place Sunday-Tuesday next week.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550165\" 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=\"550165\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/17\/crackdown-on-wildcat-building-on-agricultural-land-inches-closer\/\">\r\n                            Crackdown on wildcat building on agricultural land inches closer                        <\/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\/17\/crackdown-on-wildcat-building-on-agricultural-land-inches-closer\/\" 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\/17\/crackdown-on-wildcat-building-on-agricultural-land-inches-closer\/')\">\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\/17\/crackdown-on-wildcat-building-on-agricultural-land-inches-closer\/\">\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=Crackdown on wildcat building on agricultural land inches closer&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/17\/crackdown-on-wildcat-building-on-agricultural-land-inches-closer\/\">\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\/17\/crackdown-on-wildcat-building-on-agricultural-land-inches-closer\/&title=Crackdown on wildcat building on agricultural land inches closer\">\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=Crackdown+on+wildcat+building+on+agricultural+land+inches+closer+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F17%2Fcrackdown-on-wildcat-building-on-agricultural-land-inches-closer%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\/17\/crackdown-on-wildcat-building-on-agricultural-land-inches-closer\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/243.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"550166\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/17\/crackdown-on-wildcat-building-on-agricultural-land-inches-closer\/243-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/243.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"243.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/243.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/243.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550165\" class=\"content-area-description single-story post-550165 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-agriculture-act tag-bread-subsidy tag-enterpriseam tag-house-of-representatives tag-legislation tag-legislation-watch tag-telecommunication-law wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a><strong> The House yesterday approved in principle amendments to the Agriculture Act <\/strong>that would introduce harsher penalties for illegally building on agricultural land. Under the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c1695ea8-c915-49ae-b9f8-c0e2fa17a928\">amendments<\/a>, those convicted will be banned from receiving government food subsidies and could face jail terms ranging from two to five years as well as fines between EGP 500k and EGP 10 mn. The House Legislative and Constitutional Affairs Committee <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/25f170e7-ebe1-4d70-bb45-d8427ccb4ed9\">approved<\/a> the amendments earlier this month.<\/p>\n<p><strong>What\u2019s next? <\/strong>The amendments will go up for a final vote before the House, before getting handed to President Abdel Fattah El Sisi to be ratified into law. They then go into effect once published in the Official Gazette.<\/p>\n<p><strong>ALSO FROM THE HOUSE YESTERDAY-<\/strong><\/p>\n<p><strong>Where do our bread subsidy reforms stand? <\/strong>Supply Minister Ali El Moselhy\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fdba61a4-ba13-4035-a2a7-51511a9b61a0\">proposal<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fdba61a4-ba13-4035-a2a7-51511a9b61a0\">to form an ad hoc committee<\/a> to look into possible changes to the country\u2019s massive bread subsidy program will be studied by the House\u2019s Agriculture Committee, alongside a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/641511ec-c42a-4cf5-a975-49161d01b1f4\">slated USD 500 mn loan<\/a> from the World Bank to bolster wheat imports.<\/p>\n<p><strong>Some MPs are blaming the government for the poultry feed shortage: <\/strong>\u201cThe government should have intervened early enough to save the market \u2026 the culling of chicken will cause a shortage of poultry and eggs on the local market and lead their prices to skyrocket,\u201d MP Hesham El Gahel said. Local media this week <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/befb6b0d-2741-4940-a13c-25157c9f5fec\">reported<\/a> that some farmers are killing their chicks due to a lack of feed.<\/p>\n<p><strong>The Madbouly government is working to resolve the issue: <\/strong>The government has released some EGP 85 mn worth of soybeans since the beginning of the month and some EGP 40 mn worth of corn in efforts to calm the poultry market, according to a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid027S6PNvGFrRFBKEpFJo472jsyb3Xc3f2aaSawPBLvYkDpFMP3JPDzjXXMJpEntRDHl\">statement<\/a> following a meeting on the issue headed by Prime Minister Mousatafa Madbouly yesterday. The PM said the government would coordinate weekly with the poultry union to decide how much feed to release into the market.<\/p>\n<p><strong>Tougher penalties for the use of unlicensed telecom equipment ahead: <\/strong>The House\u2019s Telecom Committee will be looking into <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7bf307fa-433e-40ef-95ca-af9277815431\">amendments to the Telecom Law<\/a> cracking down on the import, possession, use, operation, and marketing of unlicensed telecom equipment that poses a threat to national security. Penalties range from one to five years in prison and fines of EGP 2-5 mn.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/agriculture-act\/\">Agriculture Act<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bread-subsidy\/\">Bread Subsidy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation\/\">legislation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/telecommunication-law\/\">Telecommunication Law<\/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=\"550167\" 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=\"550167\">\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\">A MESSAGE FROM HSBC<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/17\/the-middle-east-is-booming-just-ask-our-stock-exchanges\/\">\r\n                            The Middle East is booming \u2014 just ask our stock exchanges                        <\/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\/17\/the-middle-east-is-booming-just-ask-our-stock-exchanges\/\" 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\/17\/the-middle-east-is-booming-just-ask-our-stock-exchanges\/')\">\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\/17\/the-middle-east-is-booming-just-ask-our-stock-exchanges\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The Middle East is booming \u2014 just ask our stock exchanges&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/17\/the-middle-east-is-booming-just-ask-our-stock-exchanges\/\">\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\/17\/the-middle-east-is-booming-just-ask-our-stock-exchanges\/&title=The Middle East is booming \u2014 just ask our stock exchanges\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+Middle+East+is+booming+%E2%80%94+just+ask+our+stock+exchanges+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F17%2Fthe-middle-east-is-booming-just-ask-our-stock-exchanges%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\/17\/the-middle-east-is-booming-just-ask-our-stock-exchanges\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/244.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"550168\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/17\/the-middle-east-is-booming-just-ask-our-stock-exchanges\/244-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/244.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"244.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/244.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/244.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550167\" class=\"content-area-description single-story post-550167 post type-post status-publish format-standard has-post-thumbnail hentry category-a-message-from-hsbc tag-a-message-from-hsbc tag-enterpriseam tag-hsbc 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> As macro-economic clouds have gathered around the world this year, the outlook in many places on everything (from growth and inflation to investments and returns) has darkened.<\/p>\n<p>Here in the Middle East, however, there are reasons for optimism, and much of it has to do with the dynamism of the region\u2019s newly-invigorated stock exchanges. An investor conference we held in London was a showcase of why the Middle East is in the spotlight right now \u2014 and why substantial new listings are set to be a feature of the market for years to come.<\/p>\n<p>We brought together the Saudi Stock Exchange, Boursa Kuwait, the Abu Dhabi Securities Exchange, Dubai Financial Market, and the Qatar Stock Exchange for the first time. The atmosphere at the event was philosophical about present challenges, but also cautiously optimistic about the future.<\/p>\n<p>IPOs of shares in Saudi Arabia and in the United Arab Emirates have soared and there is a robust pipeline from both countries into the future. This is hugely important for the prospects for prosperity regionally \u2014 and even globally: Bns of USD are being raised internationally to drive long-term investment in the region.<\/p>\n<p>Portfolio investors see the robust pipeline of stock market listings; home-grown companies are investing to expand and diversify internationally; overseas corporates are seeking access to the region\u2019s fast-growing consumer sector and the digital economy; and other clients are focused on the progress being made in the region\u2019s transition to net zero.<\/p>\n<p>In short, investors increasingly view the Middle East as a safe and reliable opportunity as well as a region that is open and eager for business.<\/p>\n<p>We see this across our business, but nowhere is it clear than in our markets and securities services business, which in 1Q 2022 had its best quarter on record. HSBC has been involved in nearly all the IPOs of the past year: We helped clients in the region raise more than USD 19 bn from investors worldwide in 2021 \u2014 and more than USD 15 bn in the first half of this year.<\/p>\n<p>There are many drivers of the current IPO boom. Stronger energy prices have created liquidity which, when combined with reform and deregulation in the region that has happened against a backdrop of economic challenge elsewhere in the world, has created an ideal environment for new listings.<\/p>\n<p>This trend is particularly apparent in Saudi Arabia, where total foreign ownership of Saudi equities currently stands at USD 95 bn (including strategic investments). Meanwhile, consistently strong demand from international investors for IPOs in the UAE has been a key factor in substantial over-subscriptions for new share listings throughout 2022.<\/p>\n<p>Egypt is getting ready to ride the wave. The government aims to attract USD 40 bn in investment over four years through privatizations under plans to reinvigorate the Egyptian stock exchange and encourage more international investor participation in the market.<\/p>\n<p>The Sovereign Fund of Egypt has set up a pre-IPO fund to prepare state-owned enterprises for listing on the EGX, and stock market regulations have been amended to encourage companies to list.<\/p>\n<p>Growth and optimism in the Middle East can help global investors weather the challenges they face elsewhere.<\/p>\n<p>It is also a great opportunity for Middle Eastern companies and economies to take a leadership role in tackling those challenges \u2014 in every sector from food, energy, and supply chain logistics, to climate change, and the journey to Net Zero.<\/p>\n<p>The fact that the next two UN Climate Change Conferences \u2014 COP27 and COP28 \u2014 are taking place in Egypt and the UAE shows how much the world is looking to our region for solutions and innovations in tackling pressing social and economic challenges.<\/p>\n<p><em>Samer Deghaili (<\/em><em><a href=\"https:\/\/www.linkedin.com\/in\/samer-deghaili-cfa-3302596\/\">LinkedIn<\/a><\/em><em>) <\/em><em>is co-head of capital financing and investment banking coverage (CFIBC) and head of capital markets (MENAT), HSBC Bank Middle East Ltd.<\/em><\/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\/a-message-from-hsbc\/\">A MESSAGE FROM HSBC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hsbc\/\">HSBC<\/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=\"550169\" 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=\"550169\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/17\/550169\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550169\" class=\"content-area-description single-story post-550169 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/b2gcop27.moharrampartners.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/MP-COP27-Meeting-Enterprise-Web-Size-1.png?ssl=1\" alt='enterprise'><\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550170\" 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=\"550170\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/17\/ebrd-eib-could-commit-eur-35-mn-to-mediterrania-capitals-new-regional-fund\/\">\r\n                            EBRD, EIB could commit EUR 35 mn to Mediterrania Capital\u2019s new regional fund                        <\/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\/17\/ebrd-eib-could-commit-eur-35-mn-to-mediterrania-capitals-new-regional-fund\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=EBRD, EIB could commit EUR 35 mn to Mediterrania Capital\u2019s new regional fund&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/17\/ebrd-eib-could-commit-eur-35-mn-to-mediterrania-capitals-new-regional-fund\/\">\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\/17\/ebrd-eib-could-commit-eur-35-mn-to-mediterrania-capitals-new-regional-fund\/&title=EBRD, EIB could commit EUR 35 mn to Mediterrania Capital\u2019s new regional fund\">\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=EBRD%2C+EIB+could+commit+EUR+35+mn+to+Mediterrania+Capital%E2%80%99s+new+regional+fund+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F17%2Febrd-eib-could-commit-eur-35-mn-to-mediterrania-capitals-new-regional-fund%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\/17\/ebrd-eib-could-commit-eur-35-mn-to-mediterrania-capitals-new-regional-fund\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/245.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"550171\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/17\/ebrd-eib-could-commit-eur-35-mn-to-mediterrania-capitals-new-regional-fund\/245-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/245.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"245.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/245.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/245.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550170\" class=\"content-area-description single-story post-550170 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-ebrd tag-enterpriseam tag-european-investment-bank tag-investment-watch tag-mediterrania-capital-partners tag-private-equity tag-smes wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>The European <\/strong><strong>Bank for Reconstruction and Development (EBRD) could commit EUR 20 mn to Malta-based impact investor <\/strong><strong><a href=\"https:\/\/www.mcapitalp.com\/\">Mediterrania Capital Partners\u2019<\/a><\/strong><strong> fourth fund<\/strong>, which will invest in mid-cap companies in Egypt, Morocco and Tunisia, according to EBRD\u2019s <a href=\"https:\/\/www.ebrd.com\/work-with-us\/projects\/psd\/53569.html\">website<\/a>. The lender is set to approve the investment by 30 November. The European Investment Bank is also considering investing <a href=\"https:\/\/www.eib.org\/en\/projects\/all\/20220591\">EUR 15 mn<\/a> in the fund.<\/p>\n<p><strong>About MC IV:<\/strong> The fund has an EUR 350 mn target close, according to the EBRD and EIB. We don\u2019t yet know the timeline for its first close or its targeted ticket sizes or sectors. MC IV succeeds the <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/09\/spains-mediterrania-capital-partners-to-invest-in-egypt-through-its-mc-iii-fund-8010\/\">MC III fund<\/a>, which focuses on North African education, healthcare, B2C services, food processing, distribution, and export-bound manufacturing firms. MC III <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b48def4e-0680-4c6d-9bb6-03f99bd3a7f1\">acquired diagnostics imaging network MetaMed<\/a> in 2020, and <a href=\"https:\/\/enterprise.press\/stories\/2018\/01\/31\/spains-mediterrania-capital-partners-acquires-40-of-cairo-scan-in-egp-103-mn-agreement\/\">carved out a 40% stake in Cairo Scan<\/a> for a reported EGP 103 mn in 2018.<\/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\/ebrd\/\">EBRD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/european-investment-bank\/\">European Investment Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mediterrania-capital-partners\/\">Mediterrania Capital Partners<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/private-equity\/\">private equity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smes\/\">SMEs<\/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=\"550172\" 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=\"550172\">\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\">DISPUTE WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/17\/state-settles-disputes-with-international-firms-amid-efforts-to-attract-more-fdi\/\">\r\n                            State settles disputes with international firms amid efforts to attract more FDI                        <\/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\/17\/state-settles-disputes-with-international-firms-amid-efforts-to-attract-more-fdi\/\" 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\/17\/state-settles-disputes-with-international-firms-amid-efforts-to-attract-more-fdi\/')\">\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\/17\/state-settles-disputes-with-international-firms-amid-efforts-to-attract-more-fdi\/\">\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=State settles disputes with international firms amid efforts to attract more FDI&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/17\/state-settles-disputes-with-international-firms-amid-efforts-to-attract-more-fdi\/\">\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\/17\/state-settles-disputes-with-international-firms-amid-efforts-to-attract-more-fdi\/&title=State settles disputes with international firms amid efforts to attract more FDI\">\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=State+settles+disputes+with+international+firms+amid+efforts+to+attract+more+FDI+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F17%2Fstate-settles-disputes-with-international-firms-amid-efforts-to-attract-more-fdi%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\/17\/state-settles-disputes-with-international-firms-amid-efforts-to-attract-more-fdi\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/246.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"550173\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/17\/state-settles-disputes-with-international-firms-amid-efforts-to-attract-more-fdi\/246-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/246.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"246.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/246.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/246.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550172\" class=\"content-area-description single-story post-550172 post type-post status-publish format-standard has-post-thumbnail hentry category-dispute-watch tag-dispute-watch tag-enterpriseam tag-fdi tag-kima tag-qatari-diar tag-state-ownership-policy wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Gov\u2019t puts several int\u2019l disputes to bed: <\/strong>The state has settled disputes with international companies including Dutch Future Pipe and Italy\u2019s Maire Tecnimont, as it looks to improve the investment environment and attract more foreign inflows, according to a cabinet <a href=\"https:\/\/www.mairetecnimont.com\/en\">statement<\/a>. The government agreed to settle the following disputes:<\/p>\n<p><strong>#1-<\/strong><strong><a href=\"https:\/\/futurepipe.com\/\">Future Pipe<\/a><\/strong><strong>: <\/strong>The Dutch-incorporated, Dubai-based firm first filed an arbitration case against Egypt over a contract to build a water and sewage network in the new administrative capital back in 2017, according to records of the International Centre for Settlement of Investment Disputes (ICSID). The settlement will help protect joint Dutch-Egyptian investments and maintain economic relations between the two countries, according to the cabinet statement.<\/p>\n<p><strong>#2-<\/strong><strong><a href=\"https:\/\/www.mairetecnimont.com\/en\">Maire Tecnimont<\/a><\/strong><strong>:<\/strong> Cabinet rubber-stamped a settlement agreement between state-owned Egyptian Chemical Industries (Kima) and the Italian contractor, according to the statement. Kima was last year reported to be in talks with <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/06adde44-8f4b-4aee-9332-046a53dfffad\">a syndicate of banks<\/a> to help it restructure EGP 6.8 bn in outstanding debt, reportedly linked to its EGP 11.6 bn ammonia-urea plant Kima-2 in Aswan, which Tecnimont constructed. Kima was last year <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/560863ca-e8f3-4afc-8a06-9f66b8047f38\">reported to have agreed<\/a> to assign the operation and maintenance of Kima 2 to Tecnimont. The companies also reportedly signed a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fdc9bfbd-306c-46d1-bb3f-9f0f222d606f\">separate settlement<\/a> in 2020 over losses incurred by Tecnimont on the project thanks to the devaluation. The settlement will help the government continue to expand our ammonia and urea production with the help of Italian expertise, the statement reads.<\/p>\n<p><strong>#3- Disputes related to the Hekr Abu Doma development in northern Cairo. <\/strong>The statement doesn\u2019t give any further details. Local media had reported disputes related to the development between the government and both a <a href=\"https:\/\/bit.ly\/3VwoAJR\">Bahraini developer<\/a> and <a href=\"https:\/\/bit.ly\/3rZVuFi\">Qatari Diar<\/a> in recent years.<\/p>\n<p><strong>REMEMBER- Attracting more FDI is a key pillar of the government\u2019s economic strategy<\/strong> as it looks to compensate for the loss of so-called \u2018hot money\u2019 on the back of the global economic downturn. The state will look to raise USD 40 bn over the next four years through the sale of public assets. Expect to hear more on the strategy at next week\u2019s economic conference.<\/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\/dispute-watch\/\">dispute watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fdi\/\">FDI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kima\/\">Kima<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qatari-diar\/\">Qatari Diar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-ownership-policy\/\">state ownership policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550174\" 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=\"550174\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/17\/uber-egypt-gets-a-new-gm-egyptair-appoints-acting-chair\/\">\r\n                            Uber Egypt gets a new GM + EgyptAir appoints acting chair                        <\/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\/17\/uber-egypt-gets-a-new-gm-egyptair-appoints-acting-chair\/\" 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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Abouseif joins Uber from Amazon\u2019s EU headquarters, where he oversaw expansion into new markets.<\/p>\n<p><strong>Ihab El Tahtawy<\/strong> has been appointed<strong> acting chairman of EgyptAir Airlines <\/strong><strong>Company<\/strong>, succeeding company chairman and CEO Amr Nabil, <a href=\"https:\/\/bit.ly\/3yJaQ4z\">Al Mal<\/a> reports. El Tahtawy, whose last post was head of the EgyptAir training academy, will serve as acting chairman until the company\u2019s general assembly meeting. Walid El Khafif has also been appointed acting chairman of EgyptAir Maintenance and Engineering Company.<\/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\/egyptair\/\">EgyptAir<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uber\/\">Uber<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/youssef-abouseif\/\">Youssef Abouseif<\/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=\"550176\" 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=\"550176\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/17\/550176\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550176\" class=\"content-area-description single-story post-550176 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/www.sodic.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/Sodic-25_ART_1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550177\" 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=\"550177\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/17\/last-nights-talk-shows-cheep-shots\/\">\r\n                            Last Night\u2019s Talk Shows: Cheep shots                        <\/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\/17\/last-nights-talk-shows-cheep-shots\/\" 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\/17\/last-nights-talk-shows-cheep-shots\/')\">\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\/17\/last-nights-talk-shows-cheep-shots\/\">\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: Cheep shots&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/17\/last-nights-talk-shows-cheep-shots\/\">\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\/17\/last-nights-talk-shows-cheep-shots\/&title=Last Night\u2019s Talk Shows: Cheep shots\">\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+Cheep+shots+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F17%2Flast-nights-talk-shows-cheep-shots%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\/17\/last-nights-talk-shows-cheep-shots\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550177\" class=\"content-area-description single-story post-550177 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-commodities tag-enterpriseam tag-last-nights-talk-shows tag-moustafa-madbouly tag-presidential-pardon wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The talking heads were counting chickens last night <\/strong>after both the House of Representatives and Prime Minister Moustafa Madbouly tackled the poultry feed shortage yesterday (more on that in this morning\u2019s Legislation Watch, above).<\/p>\n<p><strong>The chairman of the poultry union welcomed the government\u2019s move to release some <\/strong><strong>feed from ports. <\/strong>Farms should see their feedstock replenished within the next three days on the back of the decision, Poultry Producers Union Chairman Mahmoud Al Anani told Kelma Akhira (<a href=\"https:\/\/www.youtube.com\/watch?v=U1x7OdZ7RGI\">watch, runtime:5:46<\/a>). He said he hoped not to see a repeat of recent chick culls, saying farmers had been scared to keep the production cycle going without available feed in the market.<\/p>\n<p><strong>We need a monthly 250k tons of soybeans for feed<\/strong>, Deputy Agriculture Minister for Livestock, Poultry, and Fisheries Mostafa El Sayad told Kelma Akhira (<a href=\"https:\/\/www.youtube.com\/watch?v=Po-UC7XsvCw\">watch, runtime: 19:52<\/a>). Some 122k tons of soybeans have been released from ports so far this month, the government said yesterday. Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=ewe2ArV6oMA\">watch, runtime: 3:10<\/a>) and Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=guZlHKc-XVU\">watch, runtime: 7:44<\/a>) also had the news.<\/p>\n<p><strong>ALSO- Some 25 pre-trial detainees received presidential pardons yesterday<\/strong>, Mohamed Abdel Aziz, a member of the presidential pardons committee, tells Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=N1Z_BLhsW4Q\">watch, runtime: 6:27<\/a>).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moustafa-madbouly\/\">Moustafa Madbouly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/presidential-pardon\/\">presidential pardon<\/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=\"550178\" 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  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class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/17\/egypt-in-the-news-the-cop-dont-stop\/\">\r\n                            Egypt in the News: The COP don\u2019t stop                        <\/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\/17\/egypt-in-the-news-the-cop-dont-stop\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n  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tag-cop27 tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Egypt is \u201cuniquely placed to act as a bridge between the global north and south\u201d <\/strong><strong>at COP27<\/strong>, climate negotiator and Ambassador Mohamed Nasr sys in a wide-ranging interview with <a href=\"https:\/\/www.euronews.com\/green\/2022\/10\/16\/cop27-egypt-can-act-as-a-bridge-between-global-north-and-south-says-chief-climate-negotiat\">Euronews<\/a>.<\/p>\n<p><a href=\"https:\/\/www.reuters.com\/world\/middle-east\/abu-dhabi-fund-adq-wields-economic-diplomacy-forge-regional-ties-2022-10-16\/\">Reuters<\/a> takes a look at the <strong>Abu Dhabi sovereign fund\u2019s USD 6.6 bn in investments <\/strong><strong>so far this year<\/strong><strong>. <\/strong>Sources tell the newswire ADQ is using its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b4a11664-2159-45ba-ba2f-bf0d3dfd3978\">purchasing power<\/a> to solidify regional ties with countries including Egypt, Turkey and Israel.<\/p>\n<p><strong>Also making headlines this morning: <\/strong><\/p>\n<ul>\n<li><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-15\/soaring-dollar-leaves-food-piled-up-in-ports-as-world-hunger-grows?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a> revisits how <strong>USD shortages are impacting net importers<\/strong> in Asia and Africa, including Egypt.<\/li>\n<\/ul>\n<ul>\n<li><strong>A local man was taken to hospital with light burns after he set himself on <\/strong><strong>fire in protest<\/strong> at the refusal of his son\u2019s school to allow him to use textbooks until they were paid for. (<a href=\"https:\/\/www.thenationalnews.com\/mena\/egypt\/2022\/10\/16\/man-sets-himself-on-fire-in-egypt-in-protest-over-school-books\/\">The National<\/a>)<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"550180\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550181\" 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=\"550181\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/17\/the-state-owned-electricity-company-will-pay-in-egp-for-imported-components-in-future-tenders\/\">\r\n                            The state-owned electricity company will pay in EGP for imported components in future tenders                        <\/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\/17\/the-state-owned-electricity-company-will-pay-in-egp-for-imported-components-in-future-tenders\/\" 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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Payments for foreign components, which usually make up 30 to 46% of any given tender, will reportedly be paid in EGP pegged at the exchange<\/p><p><strong>State-owned <\/strong><strong>c<\/strong><strong>onsumer finance player <\/strong><strong><a href=\"https:\/\/www.linkedin.com\/company\/onefinance-eg\/\">One Fina<\/a><\/strong><strong><a href=\"https:\/\/www.linkedin.com\/company\/onefinance-eg\/\">nce<\/a><\/strong><strong> has launched its services in the local <\/strong><strong>market<\/strong>, according to a <a href=\"https:\/\/ent.news\/2022\/10\/One-Finance-Press-Conference-Press-Release-EN.pdf\">press release (pdf)<\/a>. The state\u2019s Ayady Investments owns a 40% stake in One Finance, while the remaining 60% is split equally between microfinance player Tamweely and Post for Investment, Egypt Post\u2019s investment arm. The company aims to open eight branches nationwide before the end of the year, after obtaining its consumer finance license from the Financial Regulatory Authority in April.<\/p><p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p><ul>\n<li><strong>Edtech platform iSchool <\/strong>is reportedly looking to raise a<strong> USD 4.5 mn round <\/strong>by the end of year to enter Saudi Arabia and the UAE. (<a href=\"https:\/\/bit.ly\/3TrB4ki\">Al Mal<\/a>)<\/li>\n<li><strong>Huawei <\/strong>is reportedly among bidders to become the private-sector partner in the <strong>state\u2019s new <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/21e784be-7349-4e27-83df-6ad1cf203b93\">EV charging company<\/a><\/strong> (<a href=\"https:\/\/almalnews.com\/%D9%87%D9%88%D8%A7%D9%88%D9%89-%D8%AA%D9%83%D9%86%D9%88%D9%84%D9%88%D8%AC%D9%8A%D8%B2-%D8%AA%D8%B2%D9%88%D8%AF-%D8%B4%D8%B1%D9%85-%D8%A7%D9%84%D8%B4%D9%8A%D8%AE-%D8%A8%D8%B4%D9%88%D8%A7\/\">Al Mal<\/a>)<\/li>\n<li><strong>Everest Business School <\/strong>has closed an <strong>undisclosed funding round<\/strong> led by a strategic Kuwaiti investor and with the participation of angel investors. The fund will help the company expand across the MENA region. (<a href=\"https:\/\/ent.news\/2022\/10\/Everest-Business-School.pdf\">Statement, pdf<\/a>)<\/li>\n<li>Raya Holding subsidiary <strong><a href=\"http:\/\/rayafoods.org\/\">Raya Foods<\/a><\/strong> is considering building an <strong>EGP 500 mn <\/strong><strong>industrial complex.<\/strong> (<a href=\"https:\/\/bit.ly\/3THR5CP\">Al Mal<\/a>) <\/li>\n<li><strong>Abu Dhabi Islamic Bank <\/strong>is lending<strong> HoldiPharma EGP 3.4 bn <\/strong>to bring its meds production up to international standards in a bid to boost exports. (<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02vuHCSwVWDNERZ3jxZHJrdiUNoEhwnCwR3x4nDqFZp6pnKEFahKY1oXhdZwdykp2gl\">Statement<\/a>)<\/li>\n<li><strong>The<\/strong> <strong>Egyptian Navy <\/strong>has received the first of four <strong>MEKO A200-class <\/strong>frigates from Germany\u2019s<strong> Thyssenkrupp<\/strong>. (<a href=\"https:\/\/www.thyssenkrupp-marinesystems.com\/en\/newsroom\/press-releases\/press-detail-page\/major-ceremony-in-bremerhaven--egyptian-navy-accepts-first-frigate-from-thyssenkrupp-marine-systems-152108\">Statement<\/a>)<\/li>\n<\/ul>\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\/egyptian-electricity-transmission-company\/\">Egyptian Electricity Transmission Company<\/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=\"550182\" 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=\"550182\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/17\/eu-wants-a-price-cap-on-its-gas-markets-more-us-economists-expect-recession\/\">\r\n                            EU wants a price cap on its gas markets + More US economists expect recession                        <\/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\/17\/eu-wants-a-price-cap-on-its-gas-markets-more-us-economists-expect-recession\/\" 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 executive could adopt the package this Tuesday, after which EU leaders would discuss it during a summit this weekend.<\/p><p><strong>EU officials are sick of market machinations: <\/strong>The proposed cap will \u201chelp avoid extreme volatility and price hikes, as well as speculation which could lead to difficulties in the supply of natural gas to some member states,\u201d the document reads. Commission President Ursula von der Leyen has said that the market no longer reflects Europe\u2019s energy reality amid a crisis spurred by Moscow cutting off its oil and gas supplies to the continent.<\/p><p><strong>Shocker: US economists are predicting a recession <\/strong>sometime in the next 12 months, as the Fed continues its tightening cycle in a bid to control inflation and employers begin to cut jobs. On average, economists surveyed by the <a href=\"https:\/\/www.wsj.com\/articles\/economists-now-expect-a-recession-job-losses-by-next-year-11665859869?mod=hp_lead_pos4\">Wall Street Journal<\/a> now peg the probability of the US entering a recession over the next 12 months at 63%, up from 49% in the WSJ\u2019s July survey. A majority of those polled also expect the Fed to go overboard with its monetary tightening cycle, triggering what they think is \u201cunnecessary economic weakness\u201d in the process.<\/p><p><strong>And yet another Gulf IPO:<\/strong> Abu Dhabi-based data analytics firm <a href=\"https:\/\/www.bayanat.ai\/\">Bayanat<\/a> \u2014 a subsidiary of AI firm <a href=\"https:\/\/www.g42.ai\/\">Group 42<\/a> \u2014 is looking to raise USD 171 mn by selling a 28.5% stake in the company, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-16\/abu-dhabi-g42-owned-bayanat-seeks-to-raise-171-million-from-ipo?srnd=premium-middle-east\">Bloomberg<\/a> reports.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\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>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>10,049<\/p>\n<\/td>\n<td>\n<p>+2.0% (YTD: -15.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>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-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>11,406<\/p>\n<\/td>\n<td>\n<p>-0.1% (YTD: +1.1%)<\/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>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>9,776<\/p>\n<\/td>\n<td>\n<p>+0.8% (YTD: +15.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,377<\/p>\n<\/td>\n<td>\n<p>+0.8% (YTD: +5.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>3,583<\/p>\n<\/td>\n<td>\n<p>-2.4% (YTD: -24.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>6,859<\/p>\n<\/td>\n<td>\n<p>+0.1% (YTD: -7.1%)<\/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>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td>\n<p>3,382<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: -21.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 92.22<\/p>\n<\/td>\n<td>\n<p>+0.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 6.25<\/p>\n<\/td>\n<td>\n<p>-3.1%<\/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 1,651.70<\/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 19,247<\/p>\n<\/td>\n<td>\n<p>+0.8% (YTD: -58.2%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 rose 2.0% at yester<\/strong><strong>day\u2019s<\/strong><strong> close<\/strong> on turnover of EGP 935.96 mn (4.1% below the 90-day average). Foreign investors were net sellers. The index is down 15.9% YTD.<\/p><p><strong>In the green: <\/strong>EFG Hermes (+4.4%), Madinet Nasr Housing and Development (+4.0%) and Oriental Weavers (+3.7%).<\/p><p><strong>In the red: <\/strong>Cleopatra Hospitals (-2.0%), Mopco (-0.7%) and Telecom Egypt (-0.2%).<\/p><p><strong>Asian markets are up across the board in early trading this morning, <\/strong>and futures suggest a similarly optimistic start for major European and US indices when they open their week a little later on.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abu-dhabi\/\">Abu Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bayanat\/\">Bayanat<\/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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/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\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550183\" 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=\"550183\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/17\/el-sisi-reiterates-egypts-position-on-gerd-to-open-cairo-water-week\/\">\r\n                            El Sisi reiterates Egypt\u2019s position on GERD to open Cairo Water Week                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/17\/el-sisi-reiterates-egypts-position-on-gerd-to-open-cairo-water-week\/\" 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 president called on the international community to amp up its efforts to reach an agreement on the disputed Ethiopian mega-dam.<\/p>\n<p><strong>On food security:<\/strong> \u201cGiven that the amount of food we need is expected to see a 60% increase by 2050, it has become clear that water challenges and food security are one and the same,\u201d El Sisi said.<\/p>\n<p><strong>Foreign Minister Sameh Shoukry also spoke on water scarcity issues<\/strong> in desert nations at yesterday\u2019s opening, according to a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02rxbSHniY3amxQcgnr1FYXCvXhbxA63afyebLmL2NQ7ZFXPodwJ2SpcGyZmXnAGTfl\">statement<\/a>.<\/p>\n<p><strong>El Sisi also rang up Iraq\u2019s newly-elected president Abdul Latif Rashid<\/strong> to congratulate him on assuming the position, according to a <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02P5xUdhNjPhviFhteJyMUDyXjojqbuSPejVA1ZKyhkLsQjKovGtntCouwDti7DqL1l\">statement<\/a>. Rashid was elected by the Iraqi parliament last week and named Mohammed Shia al-Sudani prime minister-designate, putting an end to a political deadlock in the country since elections a year ago, <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/rockets-hit-baghdads-green-zone-sources-2022-10-13\/\">Reuters<\/a> reports.<\/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\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/iraq\/\">Iraq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sameh-shoukry\/\">Sameh Shoukry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"550184\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27466.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into education in Egypt, from K-12 to post-secondary.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27480.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Monday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/blackboard\/\">\r\n                            Read Blackboard                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">13<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/fresh-higher-education-rankings-bring-mixed-results-for-egyptian-universities\/\">\r\n                            Fresh higher education rankings bring mixed results for Egyptian universities<\/a>\r\n                        <\/h3>\r\n                        \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/fresh-higher-education-rankings-bring-mixed-results-for-egyptian-universities\/\" 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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Individual institutions also had uneven performances, as some remained unchanged year on year, while others rose or fell in the rankings.<\/p>\n<p><strong>The three global rankings systems that really count: <\/strong>The <a href=\"https:\/\/www.topuniversities.com\/qs-world-university-rankings\/methodology\">QS World University Rankings<\/a>, the <a href=\"https:\/\/www.timeshighereducation.com\/world-university-rankings\">Times Higher Education (THE) World University Rankings<\/a>, and the <a href=\"https:\/\/www.shanghairanking.com\/rankings\/arwu\/2022\">Academic Ranking of World Universities (ARWU or the Shanghai Ranking)<\/a>. The 2023 edition of the ARWU ranking has yet to be released, so it is not included in today\u2019s rundown.<\/p>\n<p><strong>We have nine fewer Egyptian universities ranked in THE\u2019s 2023 ranking:<\/strong> THE\u2019s 2023 ranking includes 26 Egyptian universities, down from 35 in last year\u2019s edition. Helwan University, the British University in Egypt (BUE), Canadian International College (CIC), Deraya University, Egypt-Japan University of Science and Technology, Future University, October University for Modern Sciences and Arts (MSA), October 6 University, and University of Sadat City all became reporter universities the latest rankings, meaning they fed in data but were not ranked.<\/p>\n<p><strong>However, our smaller ranking representation isn\u2019t a reflection of our overall score:<\/strong> Egypt\u2019s overall score in the ranking recorded the \u201csecond sharpest increase,\u201d rising to 31.0 in this year\u2019s edition, from 28.6 last year, THE\u2019s acting rankings editor <a href=\"https:\/\/www.timeshighereducation.com\/news\/world-university-rankings-2023-african-sector-improving-rapidly\">Rosa Ellis notes<\/a>.<\/p>\n<p><strong>The improving scores is partially tied to research output<\/strong>, which American University in Cairo professor Marwa Mamdouh-Salem suggests could be because universities had \u201cmore time to conduct research during the pandemic,\u201d Ellis says. Citations and research collectively comprise 60% of the THE ranking, we <a href=\"https:\/\/enterprise.press\/blackboards\/egypts-international-private-universities-lag-global-rankings-even-matter\/\">reported previously<\/a>.<\/p>\n<p><strong>Aswan University topped <\/strong><strong><a href=\"https:\/\/www.timeshighereducation.com\/world-university-rankings\/2022\/world-ranking#!\/page\/0\/length\/25\/locations\/EG\/sort_by\/rank\/sort_order\/asc\/cols\/stats\">the list<\/a><\/strong><strong> of Egyptian universities for the fourth consecutive year<\/strong> since it joined the ranking in its 2020 edition. The university\u2019s ranking improved <a href=\"https:\/\/bit.ly\/3ewoLnM\">from 410-500<\/a> to the 401-500 range. Next up are Damietta University, Kafr El Sheikh University, and Mansoura University, all of which remained unchanged at the 501-600 range (despite their scores improving).<\/p>\n<p><strong>AUC scored higher than most other Egyptian institutions in three of the five performance areas:<\/strong> AUC outperformed its local peers (both public and private) in the teaching, research and international outlook areas for the fourth year in a row. THE\u2019s ranking system adopts 13 performance indicators grouped into five areas: Teaching (the learning environment); research (volume, income and reputation); citations (research influence); International outlook (staff, students and research); and industry income (knowledge transfer),<a href=\"https:\/\/bit.ly\/3RZgare\">THE rankings methodology<\/a> notes. However, AUC lags behind in its citations score and sits in the middle range of the group in its industry income score. Damietta University received the top score for citations among Egyptian universities and Mansoura University had the highest-scoring industry income performance.<\/p>\n<p><strong>Regionally, Egypt dropped one position in THE regional sub-ranking: <\/strong>Nigeria outranked Egypt to claim the second spot of THE\u2019s regional sub-ranking after South Africa, with an overall score of 31.5 (up from 27.9 last year). The number of Nigerian universities that ranked in 2023 doubled to twelve universities, while the number of Egyptian universities fell 26% y-o-y, Ellis notes.<\/p>\n<p><strong>Aswan University is one of only two African universities to feature in the top 100 of the <\/strong><strong><a href=\"https:\/\/bit.ly\/3rW0qLd\">THE Impact Rankings 2022<\/a><\/strong><strong>.<\/strong> The THE Impact Rankings \u2014 which assess university commitment to sustainability at an institutional, local, national, regional and global level \u2014 ranked Aswan University number 67 out of 1,406 ranked universities around the world in 2022, up from 95 out of 1,100 ranked universities in 2021. Aswan University was one of only two African universities to make it onto the top 100 global institutions for their work on the 17 Sustainable Development Goals. The fourth edition of the Impact Rankings was <a href=\"https:\/\/www.timeshighereducation.com\/news\/impact-rankings-2022-results-announced\">published in April<\/a>.<\/p>\n<p><strong>International rankings ignite the competitive spirit among universities: <\/strong>The presence of Egyptian universities among these international rankings pushes them to do better and compete for higher rankings, Higher Education Ministry spokesperson Adel Abdel Ghaffar told Enterprise.<\/p>\n<p><strong>We continue to have the highest number of universities represented in the QS rankings out of all African countries: <\/strong>Egypt maintained its lead position on a continent level in the QS World University Rankings <a href=\"https:\/\/www.topuniversities.com\/university-rankings\/world-university-rankings\/2023\">2023<\/a>, with 14 ranked universities, out of 32 from the continent. Egypt had 13 universities in the ranking in <a href=\"https:\/\/bit.ly\/3MGCo0j\">2022<\/a>.<\/p>\n<p><strong>Gov\u2019t has been playing its part: <\/strong>\u201cThe Higher Education Ministry has provided technical and financial support to advance universities\u2019 scientific research and its publishing in international journals, which is very important for international rankings,\u201d Abdel Ghaffar added. .<\/p>\n<p><strong>Future University in Egypt makes an appearance\u2026<\/strong> Future University was the only new addition to the 2022 list of ranked Egyptian universities in the QS World University rankings.<\/p>\n<p><strong>\u2026While AUC staged a comeback: <\/strong>AUC reversed course and ranked 416 out of 1500 universities from around the world in 2023, up from 445 in 2022, but down from 411 in 2021. AUC\u2019s ranking had slipped in last year\u2019s edition. On a regional level, AUC rose to the third spot of ranked African universities with a score of 27.5 in 2023 up from the fourth spot with a score of 26.1 in 2022.<\/p>\n<p><strong>Two Egyptian university business schools got a shoutout on the <\/strong><strong><a href=\"https:\/\/www.topuniversities.com\/university-rankings\/mba-rankings\/global\/2022\">QS Global MBA Rankings<\/a><\/strong><strong>for the second year in a row: <\/strong>AUC ranked globally in the 101-110 range in 2023, rising from the 111-120 range in 2022. Meanwhile, in the Africa and Middle East category, AUC came in the fourth spot in 2023, slipping one spot from its #3 ranking last year. The Arab Academy for Science, Technology and Maritime Transport (AASTMT) maintained its listing as a top business school in Africa and the Middle East category, placed in the range of 251+.<\/p>\n<p><strong>Egyptian MBA programs maintained their positions:<\/strong> <a href=\"https:\/\/www.topuniversities.com\/business-masters-rankings\/2023?qs_qp=topnav\">The QS Business Masters Rankings 2023<\/a> evaluated five specialized master\u2019s degrees usually offered at business schools globally. Among these, <a href=\"https:\/\/www.topuniversities.com\/university-rankings\/business-masters-rankings\/management\/2023\">AASTMT\u2019s master\u2019s in management<\/a> was included in the group of 151+ out of 178, and the <a href=\"https:\/\/www.topuniversities.com\/university-rankings\/business-masters-rankings\/finance\/2022\">AUC School of Business master\u2019s in finance program<\/a> featured in the 131-140 category, out of 191.<\/p>\n<p><em>EDITOR\u2019S NOTE- This story was updated on 18 October, 2022 to clarify that the nine universities that were not included in the 2023 Times Higher Education ranking acted as unranked \u201creporter universities\u201d but did not fall out of the ranking. The story also corrected the name of the British University in Egypt.<\/em><\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top education stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>CIRA\u2019s admissions figures rose 5.6% y-o-y in its K-12 schools<\/strong>, while 16k students enrolled in its university in academic year 2022-2023, the company said in <a href=\"https:\/\/ent.news\/2022\/10\/CIRAs-Admissions-Report-2023.pdf\">an update<\/a>.<\/li>\n<li><strong>Education Minister Reda Hegazy <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/59bf3295-9f55-43bb-a1da-90128cc175ca\">will be in the hot seat<\/a><\/strong><strong> at the House of Representatives<\/strong> this week, answering MPs\u2019 questions on a shortage of public schools and teachers, the national curriculum, and a rise in private school tuition fees.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"550186\" 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\/17\/550186\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550186\" class=\"content-area-description single-story post-550186 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>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\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":550158,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-550157","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"5ae2ce5e-be18-472b-9cf0-db4c30695989","teaser":"","photo_url":"https:\/\/ent.news\/2022\/10\/24.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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