{"id":550427,"date":"2022-10-27T03:59:00","date_gmt":"2022-10-27T03:59:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=550427"},"modified":"2025-12-15T23:01:25","modified_gmt":"2025-12-15T23:01:25","slug":"madbouly-govt-unveils-fresh-social-support-measures-as-households-battle-inflation","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/madbouly-govt-unveils-fresh-social-support-measures-as-households-battle-inflation\/","title":{"rendered":"Madbouly gov\u2019t unveils fresh social support measures as households battle inflation"},"content":{"rendered":"<section id=\"550429\" 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=\"550429\">\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\/27\/this-morning-its-gonna-be-a-beautiful-weekend-why-we-should-take-a-leaf-out-of-thailands-book\/\">\r\n                            THIS MORNING: It\u2019s gonna be a beautiful weekend + Why we should take a leaf out of Thailand\u2019s book                        <\/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\/27\/this-morning-its-gonna-be-a-beautiful-weekend-why-we-should-take-a-leaf-out-of-thailands-book\/\" 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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Skies will be clear with a few clouds \u2014 sounds like perfect fall weather to us.<\/p>\n<p><strong>THE BIG STORY here at home: The Madbouly government is getting serious about <\/strong><strong>cushioning the poor <\/strong>and working poor from the impact of high inflation, announcing yesterday a series of additional \u201csocial protection\u201d measures. We have more on this in this morning\u2019s news well, below.<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>MORE ON OUR <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/feeda831-c0fd-43df-b197-08ddb74254e7\">FIVE-STEP PLAN<\/a><\/strong><strong> TO DRIVE EXPORT GROWTH AND LURE FDI<\/strong><strong>- Thailand <\/strong><strong>has <70% of our population, >10x our exports \u2014 and still it wants to grow. <\/strong>Thailand\u2019s Board of Investment has approved a new five-year investment promotion strategy, the hallmarks of which are focus and innovation.<\/p>\n<p><strong>Focus: <\/strong>Thailand is doubling down on its three big target industries (automotive assembly and car parts manufacturing; electrical appliances and electronics; agriculture and food processing)\u2026<\/p>\n<p><strong>Innovation: <\/strong>The investment promotion authority is also looking to drum up interest in \u201cgreen and smart Industries, talent development, as well as creativity and innovation,\u201d <a href=\"https:\/\/www.boi.go.th\/index.php?page=press_releases_detail&topic_id=133090\">according to a statement<\/a>. It\u2019s also broadening its mandate to off more practical on-the-ground help to businesses that want to invest in Thailand.<\/p>\n<p><strong>Another lesson for us here in Egypt: <\/strong>By staying focused and offering tailored pitches to big-name companies, Thailand has own investment in the EV and EV parts industries from both BYD and Foxconn this year.<\/p>\n<p><strong>COUNTDOWN TO COP (10 days to go)- <\/strong><\/p>\n<p><strong>Big powers try to set the tone ahead of COP:<\/strong> As the Sharm El Sheikh climate summit draws ever nearer, some of the world\u2019s most influential voices on climate change are trying to set the agenda in the press.<\/p>\n<p><strong>US climate envoy John Kerry is insisting the US is not against compensating <\/strong><strong>poorer countries for climate loss and damage,<\/strong> <a href=\"https:\/\/www.independent.co.uk\/climate-change\/news\/john-kerry-climate-compensation-un-b2210510.html\">the Independent<\/a> reports. There\u2019s been a focus in recent days on developed countries\u2019 attempts to wriggle out of discussing loss and damage in concrete financial terms in Sharm El Sheikh, as <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/9c38c6f3-9328-49d0-83b2-330b482a1066\">Enterprise Climate<\/a> noted earlier this week. Kerry said putting liability for the impacts of climate change on wealthier nations would be a \u201cproblem for everybody\u201d but that the US would not obstruct talks.<\/p>\n<p><strong>Egypt and UAE get tub-tubs from Kerry for their climate work: <\/strong>The two countries\u2019 efforts towards the green energy transition show \u201cbold leadership,\u201d <a href=\"https:\/\/www.thenationalnews.com\/world\/us-news\/2022\/10\/26\/john-kerry-uae-and-egypt-climate-action-work-shows-bold-leadership\/\">The National<\/a> quotes Kerry as saying.<\/p>\n<p><strong>It\u2019s now or never: <\/strong>The world needs to once again put climate change front and center or suffer the consequences, UN Secretary General Antonio Guterres told <a href=\"https:\/\/www.bbc.com\/news\/science-environment-63403323\">BBC<\/a>. \u201cThere has been a tendency to put climate change on the back burner \u2026 If we are not able to reverse the present trend, we will be doomed,\u201d he said. He also called on China and the US to put their differences aside and work together during COP, adding that \u201cnobody has the right to sacrifice international action on climate change for any reason.\u201d<\/p>\n<p><strong>REMINDER- KSA will send a message on climate mid-COP<\/strong> when it hosts its <a href=\"https:\/\/www.greeninitiatives.gov.sa\/about-sgi\/\">Saudi Green Initiative<\/a> in Sharm. Saudi media began <a href=\"https:\/\/www.arabnews.com\/node\/2188146\/saudi-arabia\">talking up the initiative yesterday<\/a>.<\/p>\n<p class='web-image' ><a href='#'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/Enterprise-Climate-Teaser-1600.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n<p><strong>THE BIG STORY ABROAD-<\/strong><\/p>\n<p><strong>No one story is driving the conversation in the international <\/strong><strong>business press<\/strong>, though you can practically hear the scribes abroad salivating over the notion of a tech stock meltdown as one giant after another turns in lackluster earnings (or lackluster guidance). On that trend specifically, see:<\/p>\n<ul>\n<li><a href=\"https:\/\/www.nytimes.com\/2022\/10\/26\/technology\/economy-facebook-google.html\">Tech\u2019s biggest companies are sending worrying signals about the economy<\/a> (New York Times)<\/li>\n<li><a href=\"https:\/\/www.reuters.com\/technology\/investors-punish-zuckerberg-costly-metaverse-pitch-falls-flat-2022-10-27\/\">Investors punish Zuckerberg as costly metaverse pitch falls flat<\/a> (Reuters)<\/li>\n<li><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-26\/meta-gives-tepid-revenue-forecast-as-ad-weakness-persists?srnd=premium-middle-east&sref=mmeFTDW1\">Meta tumbles as sales forecast shows depth of ad-market weakness<\/a> (Bloomberg)<\/li>\n<\/ul>\n<p><strong>Two big stories gathering steam:<\/strong><\/p>\n<ul>\n<li><strong>Elon walked into Twitter HQ <\/strong><strong><a href=\"https:\/\/twitter.com\/elonmusk\/status\/1585341984679469056\">carrying a (literal) sink<\/a><\/strong> as he looks set to close his USD 44 bn acquisition of company in the coming days. (<a href=\"https:\/\/www.wsj.com\/articles\/banks-begin-to-fund-13-billion-in-debt-backing-elon-musks-twitter-takeover-11666824554\">Wall Street Journal<\/a> | <a href=\"https:\/\/www.ft.com\/content\/966b030b-1ff0-422f-84be-3aadc3317401\">Financial Times<\/a>)<\/li>\n<li><strong>There are 12 days until voters in the United States head to the polls <\/strong>for midterm elections, and Dems are really starting to worry they\u2019re going to lose the House and Senate. (<a href=\"https:\/\/www.politico.com\/news\/2022\/10\/26\/election-anxiety-begins-to-creep-inside-the-white-house-00063524\">Politico<\/a> | <a href=\"https:\/\/www.axios.com\/2022\/10\/26\/social-security-medicare-republicans-democrats\">Axios<\/a>)<\/li>\n<\/ul>\n<p>^^ The reports follow disappointing showings from both Microsoft and Google this week, as we noted yesterday.<\/p>\n<p><strong>SIGN OF THE TIMES #1- We all hate the metaverse. <\/strong>Microsoft is <a href=\"https:\/\/www.wsj.com\/articles\/microsoft-headsets-augmented-reality-hololens-metaverse-11666793622\">struggling with the<\/a><a href=\"https:\/\/www.wsj.com\/articles\/microsoft-headsets-augmented-reality-hololens-metaverse-11666793622\">metaverse<\/a> \u2014 and top Apple exec Greg Joswiak says it \u201c<a href=\"https:\/\/www.businessinsider.com\/apple-executive-slams-mark-zuckerberg-metaverse-will-never-say-metaverse-2022-10\">is a word I\u2019ll never use<\/a>.\u201d<\/p>\n<p><strong>SIGN OF THE TIMES #2- Ford and VW have <\/strong><strong><a href=\"https:\/\/www.ft.com\/content\/4afc571f-2dae-4f33-944a-c217397c3f91\">shut down a self-driving vehicle group<\/a><\/strong><strong> after <\/strong><strong>six years of work<\/strong>, with a top exec saying that \u201ccreating an L4 robotaxi that can operate in a dense urban environment\u201d is \u201charder than putting a man on the moon.\u201d<\/p>\n<p><strong>SIGN OF THE TIMES(?) #3- The Bank of Canada is <\/strong><strong><a href=\"https:\/\/www.ft.com\/content\/3124c03b-db13-41a7-a8a2-abf5ea2edb4b\">nearing the end<\/a><\/strong><strong> of its monetary <\/strong><strong>tightening cycle<\/strong>, with governor Tiff Macklem saying \u201cwe\u2019re getting closer\u201d after the BoC raised its key interest rate <a href=\"https:\/\/www.theglobeandmail.com\/business\/article-bank-of-canada-interest-rate-hike\/\">50 bps to 3.75%<\/a> \u2014 a smaller bump than economists expected. <strong>Would that the US Fed takes note.<\/strong><\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>HAPPENING TODAY-<\/strong><\/p>\n<p><strong>Egypt and the UAE\u2019s <\/strong><strong><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0gKn5z3nuZiF3rVVxhgVD5AaDXHkH4X4bj7L1b3cvYGKcbV5u98c99ivMradBERDgl\">three-day gathering<\/a><\/strong> to mark 50 years of bilateral ties continues today. The event wraps tomorrow.<\/p>\n<p><strong>German development agency GIZ Egypt will host an expo for medicinal and aromatic<\/strong> <strong>plants<\/strong> at Fayoum\u2019s Helnan Auberge hotel today and tomorrow, according to <a href=\"https:\/\/web.facebook.com\/GIZEgypt\/photos\/a.205233312988581\/2276663545845537\/?type=3&theater\">a statement<\/a>. Over 70 exhibitors will be in attendance. Register for the event <a href=\"https:\/\/docs.google.com\/forms\/u\/1\/d\/1Gm5eDzWEbcLYk5MmSn5LycQKAh1puh_EzFKCH4eJ1gc\/viewform?ts=63357768&fbclid=IwAR17-NNLY_pI49L1o6N9AglhziGp4HXflHT_bk-ugptautOW0KChtSLDCBk&edit_requested=true\">here<\/a>.<\/p>\n<p><strong>All eyes are on the ECB today:<\/strong> The European Central Bank is widely expected to go for its second consecutive jumbo-sized 75 bps rate hike when it meets today, as the eurozone continues to battle persistently high inflation, <a href=\"https:\/\/www.cnbc.com\/2022\/10\/26\/ecb-meeting-october-2022-75-bps-hike-expected-but-tltros-and-qt-on-the-table.html\">CNBC<\/a> reports. This would mark its third \u2014 and likely not last \u2014 rate hike this year, with many economists predicting a follow-up hike of 50 bps in December, at which time the eurozone will likely have entered a recession.<\/p>\n<p><strong>MARKET WATCH-<\/strong><\/p>\n<p><strong>US oil exports reach record highs \u2014 despite shortages at home.<\/strong> The US is exporting record amounts of oil, helping fill the supply gap left by Russia but leaving its East Coast struggling to meet demand, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-26\/the-us-is-exporting-record-oil-and-fuel-even-as-east-coast-faces-shortages\">Bloomberg<\/a> writes . Last week the US exported a record 11.4 mn barrels a day of crude and petroleum, up a daily 2 mn barrels from the week before, despite calls from President Joe Biden to limit exports in efforts to curb rising prices. Shippers can earn more exporting to global markets than restocking domestic supply, the business information service reports.<\/p>\n<p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>An IMF delegation <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/548df8a6-46d5-4604-89fe-ceac80080b93\">will land in Cairo<\/a><\/strong><strong> in the first week of November<\/strong> to continue loan talks, Jihad Azour, the IMF\u2019s director for the Middle East and Central Asia, said earlier this week.<\/p>\n<p><strong>Egypt and Saudi Arabia will ink a number of green energy-centered agreements <\/strong><strong>next month <\/strong>during Electricity and Renewable Energy Minister Mohamed Shaker\u2019s visit to the KSA, according to a cabinet <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02MAgGDEchJAdncSYEoeJ7dQsuxkUFppvgDXqjbuceFbqbMAtGMfwap9QLc8RaUpuGl\">statement<\/a>. Two of the agreements will be with ACWA Power, one regarding green hydrogen production in the Suez Canal Economic Zone and the other for a 10 GW wind farm, the statement added.<\/p>\n<p><strong>Law firms <\/strong><strong><a href=\"https:\/\/matoukbassiouny.com\/\">Matouk Bassiouny<\/a><\/strong><strong> and <\/strong><strong><a href=\"https:\/\/www.freshfields.com\/\">Freshfields Bruckhaus Deringer<\/a><\/strong><strong> will hold a webinar on <\/strong><strong>2 November<\/strong> that will spotlight COP27\u2019s potential impact on businesses globally. Register for the webinar <a href=\"http:\/\/url4664.communications.freshfields.com\/ls\/click?upn=9u6lJziXwFTRroLfaF1vjQWek2tuDXFztxhjxtTEpkwmCShaiSnbNXL0QFehRi23-2F1a-2FTcavrw5qtYrCz0vpNveKG6miGNZEIyOxcm9-2B9Gd59R4MyRPp9ca7V1AYfBv6Mve4UK9MSLPBSRbcAAgm7d7eCBDsAfVCzVdbKoM-2B3fU-3DopVT_PmquzR4N3BkCDWL8Z-2FjG65Q2ixDI65YTOV8tzq-2FFFrZ9X1fAjGspOrXJUkp1qVtuGJsdPTpJKA47aine4HFaRopgY1oqYB3uM5QEGUWqkQCPK2xMZh9NJMut01eV8p7wYmLGDQeDX-2FMr6iYHCwxi-2FQd7eWVgvpXqA7sVt1zrqzwb2aJqu-2FOnb-2F6XEYertWrrBlmV-2BNaAgRnLMU88JQWOsUccjy7061s8XBh2KSCaOxKBiQ6BtHWzSK7kcae2eTBm2j-2B5LfPg460qDRUO9GNzxw-3D-3D\">here<\/a>.<\/p>\n<p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/european-central-bank\/\">European Central Bank<\/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\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/social-welfare\/\">social welfare<\/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=\"550430\" 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=\"550430\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/27\/550430\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550430\" class=\"content-area-description single-story post-550430 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 data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/2cellos2_1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n<p><strong>2CELLOS \u2014 LIVE AT SOMABAY on 18 November, 2022:<\/strong> Mark your calendars \u2014 world-renowned and wildly popular cellist duo, 2CELLOS will be performing at Somabay on 18 November, 2022. Having racked up a bn-plus audio streams, countless sold-out concerts, and mns of fans across the globe in their 10 years together as 2CELLOS, the Croatian duo of Luka \u0160uli\u0107 and HAUSER will be visiting Egypt in their long-awaited 2022 Dedicated World Tour. Book your ticket now: <a href=\"https:\/\/www.ticketsmarche.com\/tickets\/buy-tickets-2-cellos.html\">https:\/\/www.ticketsmarche.com\/tickets\/buy-tickets-2-cellos.html<\/a>. Call us 16390.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550431\" 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=\"550431\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/27\/govt-announces-raft-of-measures-to-help-with-cost-of-living-post-economic-conference\/\">\r\n                            Gov\u2019t announces raft of measures to help with cost of living post-economic conference                        <\/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\/27\/govt-announces-raft-of-measures-to-help-with-cost-of-living-post-economic-conference\/\" 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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A continued freeze on household electricity prices into mid-2023 and a bump to the public-sector minimum wage were among the measures announced by Madbouly at a presser following the weekly cabinet meeting, a day after the state wrapped its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/06c4e072-4011-4127-a6c3-c014b13880aa\">three-day conference<\/a> on the future of the Egyptian economy.<\/p>\n<p><strong>The news comes after President Abdel Fattah El Sisi said at the conference that <\/strong><strong>\u201csalaries are unacceptable<\/strong> \u2026 and less than EGP 10k for any working man is unlivable\u201d (<a href=\"https:\/\/www.youtube.com\/watch?v=IeFnFNdJpv8\">watch, runtime: 3:37<\/a>). Madbouly, speaking In his closing remarks at conference, said his government was working on a new package of social support measures set to come into effect starting in November.<\/p>\n<p><strong>What\u2019s the government doing as household incomes are eroded by inflation?<\/strong> It\u2019s a mixed bag that includes price freezes (electricity) and measures that could drive inflation higher (bonus payments and wage hikes for the public sector). Here\u2019s the rundown:<\/p>\n<p><strong>#1- Electricity prices for residential consumers will remain unchanged through 30 June 2023, <\/strong>Madbouly said, extending for another six months the hold<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6738af87-afde-4aee-befb-5234cb2ccc14\">introduced over the summer<\/a>on planned electricity price hikes. Residential electricity bills had been set to rise by as much as 21% last July, 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. Households in the highest consumption tiers \u2014 which as of last year have not received subsidies \u2014 would have seen prices rise by up to 6%.<\/p>\n<p><strong>#2- The minimum wage for state employees is rising for the second time this year: <\/strong>Civil servants and employees at state-owned enterprises will see the minimum wage rise to EGP 3k per month starting next month in response to rising inflation. Over the summer, the minimum wage was hiked for public-sector employees \u2014 including people working at state-owned companies \u2014 from<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a07a80f5-6aac-43e7-b076-f87aaa5ccab6\">EGP 2.4k<\/a> to<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/15ca039b-985a-4ced-840e-eb179ca167b2\">EGP 2.7k.<\/a> The private sector minimum wage requirement currently stands at EGP 2.4k.<\/p>\n<p><strong>#3- <\/strong><strong>The state should distribute an EGP 300 bonus next month<\/strong> to employees in the public sector and at state-owned enterprises, and to pensioners, to help them navigate the rising cost of living. The move will need to go to a parliament vote, which the government will try to push through with an eye to disbursing the bonus in November, Finance Minister Mohamed Maait said in a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02EaYwn6oGw2eeZxT2SauuNK5GoFnsvmXer6JAW8FiX6YDKCsU5QqQ5zupqJttNFi5l\">separate statement<\/a>.<\/p>\n<p><strong>#4- Ration card increases to continue until next summer: <\/strong>Each one-family ration card will continue to see an EGP 100-300 monthly increase in credit until 30 June, 2023. The scheme, which <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/89bedb72-a77a-4753-9dca-7e09a070cf88\">came into effect last month<\/a>, was originally set to run till the new year but the state decided to keep it going for another six months. Earlier this year the government expanded the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/89bedb72-a77a-4753-9dca-7e09a070cf88\">social safety net<\/a>to include 1 mn more families, and upped ration card holders\u2019 allowance as part of an <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f7f5d914-1be8-4dfe-93c8-767c06de3057\">EGP 11 bn package<\/a> aimed at mitigating the impact of the economic crisis on the poorest.<\/p>\n<p><strong>#5- Fast tracking amendments to raise the income tax threshold: <\/strong>The government will work to speed up the implementation of a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/359a0c63-8938-4f83-9667-882e1622ed88\">draft decision<\/a> raising the personal income tax exemption threshold to EGP 2.5k per month from EGP 2k, Maait and Madbouly said yesterday.<\/p>\n<p><strong>#6- Something for the private sector: <\/strong>Companies facing financial difficulties and unable to pay their employees\u2019 wages thanks to the global economic crisis will be eligible for compensation through the Manpower Ministry\u2019s emergency fund until June 30, 2023.<\/p>\n<p><strong>Where\u2019s the money coming from? <\/strong>The new measures will be funded from the emergency EGP 135 bn reserve already allocated to measures that help deal with global economic headwinds, Maait said, stressing that they would not impact fiscal targets set out in the annual budget.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/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\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/minimum-wage\/\">minimum wage<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/prime-minister-moustafa-madbouly\/\">Prime Minister Moustafa Madbouly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/social-welfare\/\">social welfare<\/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=\"550433\" 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=\"550433\">\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\">Privatization<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a 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href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/27\/sfe-is-marketing-to-strategics-around-the-world-says-theres-appetite-for-safi-and-wataniya\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/348.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"550434\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/27\/sfe-is-marketing-to-strategics-around-the-world-says-theres-appetite-for-safi-and-wataniya\/348-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/348.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"348.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/348.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/348.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550433\" class=\"content-area-description single-story post-550433 post type-post status-publish format-standard has-post-thumbnail hentry category-privatization-watch tag-enterpriseam tag-hala-el-said tag-investment-watch tag-ipo-watch tag-privatization-watch tag-safi tag-sovereign-fund-of-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The government will launch a roadshow to market pre-IPO companies it is <\/strong><strong>warehousing. The Sovereign Fund of Egypt will speak with strategic investors \u201cin a number of cities around the world,\u201d<\/strong> <a href=\"https:\/\/www.asharqbusiness.com\/article\/43355\">Bloomberg Asharq<\/a> says, quoting Planning Minister Hala El Said and fund CEO Ayman Soliman. The government had been planning a roadshow to market companies to Gulf sovereign funds and investors in Europe and Asia.<\/p>\n<p><strong>Appetite for Safi and Wataniya: <\/strong>Arab sovereign funds want in on stakes being sold in military-owned <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7e9e5e71-1bbb-4cb4-a470-efcb60e3d219\">filling station Wataniya and bottled water company Safi<\/a>, Soliman reportedly said. The state signaled this week that it could <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/163a5afb-e9f0-46c4-b95c-3df60adeb7de\">sell stakes in the two companies before the end of this year<\/a>. Both are also on deck to offer additional shares in initial public offerings at a future date.<\/p>\n<p><strong>ALSO- SFE to more than double its capital in five years: <\/strong>The Madbouly government wants to increase the Sovereign Fund of Egypt\u2019s capital to EGP 1 tn from a current EGP 400 bn within five years, according to El Said and Soliman.<\/p>\n<p><strong>Big on infrastructure: <\/strong>The fund will direct 70% of its investment portfolio towards the infrastructure sector, Soliman added.<\/p>\n<p><strong>REMEMBER- <\/strong>The pre-IPO fund <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eaa81cae-e4e2-4c66-963d-b806c4ed812b\">aims to prepare state-owned enterprises<\/a> for eventual listing on the EGX. It is offering stakes to strategics to get the process moving before eventually going ahead with IPOs when global market conditions are more favorable. The Madbouly government\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/341bd556-a758-49d4-9aa9-1852ae8a3d9f\">privatization plans<\/a> had originally envisioned the selling of stakes in 10 state-owned companies and two military companies this year, but that has since been scaled back amid a global downturn. The sales are part of a wider plan by the Sisi administration to net USD 40 bn in investment from private investors over the coming four years.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hala-el-said\/\">Hala El Said<\/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\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/privatization-watch\/\">privatization watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/safi\/\">Safi<\/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=\"550435\" 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=\"550435\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/27\/550435\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550435\" class=\"content-area-description single-story post-550435 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 data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/MP-COP27-Meeting-Enterprise-Web-Size-1.png?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550436\" 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=\"550436\">\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\">Green economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/27\/infinity-units-eye-new-wind-and-ev-projects\/\">\r\n                            Infinity units eye new wind and EV projects                        <\/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\/27\/infinity-units-eye-new-wind-and-ev-projects\/\" 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\/27\/infinity-units-eye-new-wind-and-ev-projects\/')\">\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\/27\/infinity-units-eye-new-wind-and-ev-projects\/\">\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=Infinity units eye new wind and EV projects&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/27\/infinity-units-eye-new-wind-and-ev-projects\/\">\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\/27\/infinity-units-eye-new-wind-and-ev-projects\/&title=Infinity units eye new wind and EV projects\">\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=Infinity+units+eye+new+wind+and+EV+projects+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F27%2Finfinity-units-eye-new-wind-and-ev-projects%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\/27\/infinity-units-eye-new-wind-and-ev-projects\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550436\" class=\"content-area-description single-story post-550436 post type-post status-publish format-standard hentry category-green-economy tag-enterpriseam tag-evs tag-green-economy tag-infinity tag-renewable-energy tag-renewables wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong><a href=\"https:\/\/www.weareiph.com\/\">Infinity Power<\/a><\/strong><strong> eyes USD 300 mn wind farm: <\/strong>Infinity Power, a JV between local renewables player <a href=\"https:\/\/www.weareinfinity.com\/\">Infinity<\/a> and UAE\u2019s Masdar, has its sights set on developing a 200 MW wind farm in the Gulf of Suez, head of wind energy at Infinity Egypt Omar Nagi told reporters at a workshop yesterday. The project could cost as much as USD 300 mn to build. <a href=\"https:\/\/tinyurl.com\/3vyfpxmv\">Al Mal<\/a> also has the story.<\/p>\n<p><strong>And EVs are also in the plan: <\/strong><a href=\"https:\/\/www.infinityevcharge.com\/\">Infinity EV<\/a> is looking to invest EGP 80 mn (c.USD 4 mn) in EV charging stations in the coming year, Managing Director Shams Abdel Ghaffar told Enterprise Climate. The company is planning to up the number of its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0ef281e2-2e11-46a1-b299-fa12cc73d172\">charging stations to 300 from 115 2024<\/a>, and increase charging points to 1k from 440 in commercial and residential areas, as well as gas stations, he added. Infinity EV also has regional expansion plans including Jordan and two other countries, which Abdel Ghaffar did not name.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-economy\/\">Green Economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infinity\/\">Infinity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewable-energy\/\">renewable energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550437\" 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=\"550437\">\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\">NOT-SO-GREEN ECONOMY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/27\/more-oil-gas-cooperation-with-russia\/\">\r\n                            More oil + gas cooperation with Russia                        <\/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\/27\/more-oil-gas-cooperation-with-russia\/\" 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\/27\/more-oil-gas-cooperation-with-russia\/')\">\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\/27\/more-oil-gas-cooperation-with-russia\/\">\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=More oil + gas cooperation with Russia&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/27\/more-oil-gas-cooperation-with-russia\/\">\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\/27\/more-oil-gas-cooperation-with-russia\/&title=More oil + gas cooperation with Russia\">\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=More+oil+%2B+gas+cooperation+with+Russia+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F27%2Fmore-oil-gas-cooperation-with-russia%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\/27\/more-oil-gas-cooperation-with-russia\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550437\" class=\"content-area-description single-story post-550437 post type-post status-publish format-standard hentry category-not-so-green-economy tag-energean tag-enterpriseam tag-israel tag-lebanon tag-not-so-green-economy tag-oil-and-gas tag-russia-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Russia and Egypt want to boost cooperation on oil and gas production<\/strong> after Oil Minister Tarek El Molla sat down with Russian Energy Minister Nikolay Shulginov to explore investment in Egypt\u2019s oil and gas sector, according to an Oil Ministry <a href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid023gE1LetBfz6MZjkhuLbWvpZYunmYdxiUpJvYkrVXgZqTkSXvepJ58uBwMiJsZUt9l\">statement<\/a>. Their sit-down came on the sidelines of the Gas Exporting Countries Forum (GECF), which wrapped on Tuesday.<\/p>\n<p><strong>ALSO OF REGIONAL INTEREST- Israel has given <\/strong><strong>Energean<\/strong><strong> permission to begin <\/strong><strong>production at the offshore <\/strong><strong>Karish gas field on Tuesday<\/strong>, <a href=\"https:\/\/www.reuters.com\/business\/energy\/israel-grants-energean-permission-start-production-offshore-karish-gas-field-2022-10-25\/\">Reuters<\/a> reports. The move comes as Israel and Lebanon are today expected to sign a maritime border <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ddde4aa6-2a7c-4193-8be0-64525d45e4f2\">agreement<\/a> brokered by the United States that could pave the way for more gas exploration in territories once disputed between the two countries.<\/p>\n<p><strong>Odds are good that gas will eventually flow to Egypt <\/strong>for either domestic use or liquefaction and re-export.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energean\/\">Energean<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lebanon\/\">Lebanon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/not-so-green-economy\/\">NOT-SO-GREEN ECONOMY<\/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\/russia-egypt\/\">Russia-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=\"550438\" 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=\"550438\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/27\/house-signs-off-on-changes-to-agriculture-and-river-transport-acts\/\">\r\n                            House signs off on changes to agriculture and river transport acts                        <\/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\/27\/house-signs-off-on-changes-to-agriculture-and-river-transport-acts\/\" 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\/27\/house-signs-off-on-changes-to-agriculture-and-river-transport-acts\/')\">\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\/27\/house-signs-off-on-changes-to-agriculture-and-river-transport-acts\/\">\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=House signs off on changes to agriculture and river transport acts&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/27\/house-signs-off-on-changes-to-agriculture-and-river-transport-acts\/\">\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\/27\/house-signs-off-on-changes-to-agriculture-and-river-transport-acts\/&title=House signs off on changes to agriculture and river transport acts\">\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=House+signs+off+on+changes+to+agriculture+and+river+transport+acts+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F27%2Fhouse-signs-off-on-changes-to-agriculture-and-river-transport-acts%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\/27\/house-signs-off-on-changes-to-agriculture-and-river-transport-acts\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/349.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"550439\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/27\/house-signs-off-on-changes-to-agriculture-and-river-transport-acts\/349-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/349.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"349.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/349.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/349.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550438\" class=\"content-area-description single-story post-550438 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-agriculture tag-enterpriseam tag-house-of-representatives tag-investment-watch tag-legislation-watch tag-transport wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>The House gave its final nod to bills on agricultural encroachment<\/strong>, river transport, unlicensed guns, and national ID cards yesterday.<\/p>\n<p><strong>#1- Tougher fines for land encroachment: <\/strong>People caught illegally building on agricultural land will face tougher fines after MPs approved <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a5d947a6-d0f2-44a9-a507-772d4e8e4b4d\">an amendment<\/a> to the Agriculture Law yesterday. Under the change, violators can be fined between EGP 500k and EGP 10 mn for encroachment as well as receive up to five years in prison. The current law allows fines of between EGP 100k and EGP 5 mn.<\/p>\n<p><strong>Contractors + engineers will be held liable:<\/strong> Any contractors and engineers implicated in land encroachment could be sent to prison for up to five years and receive fines ranging between EGP 100k and EGP 3 mn.<\/p>\n<p><strong>#2- <\/strong><strong>River transport open to private investment: <\/strong>MPs approved <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9531f3f8-a3f7-4914-a02f-8e12237fab6e\">amendments<\/a> designed to attract more investment into the country\u2019s inland waterways. The changes will open up the river transport sector to private investment and put the River Transport Authority (RTA) in charge of licensing river boats, Nile cruises and floating units. Requests for the establishment, operation and management of river ports and docks will now go through the RTA for approval.<\/p>\n<p><strong>#3- <\/strong><strong>Getting a license to buy and sell guns could become harder:<\/strong> MPs approved two bills yesterday that will make it harder for <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d63614d9-03ec-465a-b2c0-646b6a469809\">people to obtain licenses to buy and sell guns<\/a>. This comes in response to the spread of videos on social media with violent content featuring the use of unlicensed guns.<\/p>\n<p><strong>#4- <\/strong><strong>ID cards will now be issued at 15 years old: <\/strong>The House approved yesterday an amendment to the Civil Status Law that requires citizens to get their national ID cards at 15 years old instead of 16 years old.<\/p>\n<p><strong>What\u2019s next for the bills: <\/strong>All four pieces of legislation will now go to President Abdel Fattah El Sisi\u2019s desk to be signed into law.<\/p>\n<p><strong>What\u2019s next for the House <\/strong><strong>and the Senate:<\/strong> The House will reconvene for plenary sessions on Sunday and Monday, while the Senate will hold sessions on Tuesday and Wednesday. Both chambers will then take a break for the COP27 summit.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/agriculture\/\">agriculture<\/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\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/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=\"550440\" 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=\"550440\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/27\/sodic-net-income-up-19-in-3q-2022\/\">\r\n                            SODIC net income up 19% in 3Q 2022                        <\/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\/27\/sodic-net-income-up-19-in-3q-2022\/\" 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\/27\/sodic-net-income-up-19-in-3q-2022\/')\">\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\/27\/sodic-net-income-up-19-in-3q-2022\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=SODIC net income up 19% in 3Q 2022&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/27\/sodic-net-income-up-19-in-3q-2022\/\">\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\/27\/sodic-net-income-up-19-in-3q-2022\/&title=SODIC net income up 19% in 3Q 2022\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=SODIC+net+income+up+19%25+in+3Q+2022+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F27%2Fsodic-net-income-up-19-in-3q-2022%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\/27\/sodic-net-income-up-19-in-3q-2022\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/351.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"550441\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/27\/sodic-net-income-up-19-in-3q-2022\/351-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/351.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"351.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/351.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/351.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550440\" class=\"content-area-description single-story post-550440 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-earnings-watch tag-enterpriseam tag-real-estate tag-sodic wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a><strong> Real estate developer SODIC\u2019s bottom line rose 19% y-o-y in 3Q 2022 <\/strong>to EGP 142 mn, according to the company\u2019s <a href=\"https:\/\/ent.news\/2022\/10\/SODIC-ER-3Q-2022.pdf\">earnings release (pdf)<\/a>. Revenues for the quarter came in at EGP 1.92 bn, up 33% thanks to accelerating deliveries at its SODIC East and Villette developments.<\/p>\n<p><strong>It was a stellar quarter for SODIC: <\/strong>Our friends at the upmarket developer saw a big increase in third-quarter gross contracted sales in terms of both number and value of units sold. Gross contracted sales for the quarter more than tripled from a year ago, reaching EGP 5.1 bn, according to our math, up from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/96b08241-98ef-497c-a1ad-7b6803c97a8e\">EGP 1.63 bn in 3Q 2021<\/a>. The company sold 717 units during the July-September period, compared to 196 a year ago. SODIC delivered 381 units during the quarter (317 in its East Cairo projects, 63 in its West Cairo projects, and only one in its North Coast projects).<\/p>\n<p><strong>And a record 9M:<\/strong> SODIC reported a record EGP 11.8 bn in gross contracted sales in the first nine months of the year. The company\u2019s North Coast developments contributed 44% of total sales, while East Cairo accounted for 31% and West Cairo 25%.<\/p>\n<p><strong>REMEMBER-<\/strong> For real estate companies, sales \u2260 revenues. Most book a sale when you sign a contract to buy a home, but only record (some or all of) the value of the unit they sold you when they (a) deliver the unit to you or (b) hit a percentage of completion on a project.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sodic\/\">SODIC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550442\" 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=\"550442\">\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\/27\/orascom-investment-holding-shuffles-its-top-two-board-seats\/\">\r\n                            Orascom Investment Holding shuffles its top two board seats                        <\/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\/27\/orascom-investment-holding-shuffles-its-top-two-board-seats\/\" 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\/27\/orascom-investment-holding-shuffles-its-top-two-board-seats\/')\">\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\/27\/orascom-investment-holding-shuffles-its-top-two-board-seats\/\">\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=Orascom Investment Holding shuffles its top two board seats&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/27\/orascom-investment-holding-shuffles-its-top-two-board-seats\/\">\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\/27\/orascom-investment-holding-shuffles-its-top-two-board-seats\/&title=Orascom Investment Holding shuffles its top two board seats\">\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=Orascom+Investment+Holding+shuffles+its+top+two+board+seats+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F27%2Forascom-investment-holding-shuffles-its-top-two-board-seats%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\/27\/orascom-investment-holding-shuffles-its-top-two-board-seats\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550442\" class=\"content-area-description single-story post-550442 post type-post status-publish format-standard hentry category-moves tag-enterpriseam tag-marwan-hussein tag-moves tag-naguib-sawiris tag-orascom-investment-holding wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Orascom Investment Holding (OIH) <\/strong>appointed <strong>Naguib Sawiris<\/strong> as its new <strong>executive <\/strong><strong>chairman <\/strong>and <strong>Ma<\/strong><strong>rwan Hussein<\/strong> as the company\u2019s <strong>CEO<\/strong> effective 1 November, according to a <a href=\"https:\/\/ent.news\/2022\/10\/OIH-new-CEO.pdf\">disclosure to the bourse (pdf)<\/a>. Hussein has been serving as OIH\u2019s CFO for a little over a year and previously worked in the company\u2019s investor relations department.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/marwan-hussein\/\">Marwan Hussein<\/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\/naguib-sawiris\/\">Naguib Sawiris<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-investment-holding\/\">Orascom Investment Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550443\" 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=\"550443\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/27\/550443\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550443\" class=\"content-area-description single-story post-550443 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.sodic.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/Sodic-25_EXPERIENCES_1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550444\" 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=\"550444\">\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\/27\/last-nights-talk-shows-the-govt-giving-tree\/\">\r\n                            Last Night\u2019s Talk Shows: The gov\u2019t giving tree                        <\/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\/27\/last-nights-talk-shows-the-govt-giving-tree\/\" 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\/27\/last-nights-talk-shows-the-govt-giving-tree\/')\">\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\/27\/last-nights-talk-shows-the-govt-giving-tree\/\">\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: The gov\u2019t giving tree&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/27\/last-nights-talk-shows-the-govt-giving-tree\/\">\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\/27\/last-nights-talk-shows-the-govt-giving-tree\/&title=Last Night\u2019s Talk Shows: The gov\u2019t giving tree\">\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+The+gov%E2%80%99t+giving+tree+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F27%2Flast-nights-talk-shows-the-govt-giving-tree%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\/27\/last-nights-talk-shows-the-govt-giving-tree\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550444\" class=\"content-area-description single-story post-550444 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-economy tag-enterpriseam tag-industry tag-last-nights-talk-shows tag-minimum-wage tag-prime-minister-moustafa-madbouly tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It was all about the gov\u2019t\u2019s new social protection package last night: <\/strong>The talking heads spent their night diving deeper into the latest package of social protection measures announced by the Madbouly government. The measures include raising the minimum wage for public sector employees to EGP 3k and keeping electricity prices on hold for an additional six months. We have the full story in today\u2019s Economy section, above.<\/p>\n<p><strong>Where\u2019s the private-sector minimum wage hike? <\/strong>The state was supposed to meet with private sector players this month to discuss raising its minimum wage from EGP 2.4k to EGP 2.7k per month, but the meeting has been postponed given how businesses have been struggling, National Council for Wages member Magdy El Badawy told Salat El Tahrir (<a href=\"https:\/\/www.youtube.com\/watch?v=XHIbwZX2FpM\">watch, runtime: 6:00<\/a>). \u201cWe hope over the coming period to apply similar measures [raising the minimum wage] to private sector employees,\u201d he said.<\/p>\n<p><strong>The timing of these measures will help cushion the current price shock<\/strong> and any further price hikes in response to global economic conditions, Sen. Emad El Din Hussein told Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=9sPwSVcTUO4\">watch, runtime: 11:37<\/a>).<\/p>\n<p><strong>Helping hand: <\/strong>\u201cWe know how difficult the global economic crisis has been on citizens and therefore the state took action and will continue to take action,\u201d Cabinet spokesman Nader Saad told Salat El Tahrir (<a href=\"https:\/\/www.youtube.com\/watch?v=pB6g0sCaRyk\">watch, runtime: 3:02<\/a> | <a href=\"https:\/\/www.youtube.com\/watch?v=jJQHv5utO1I\">3:09<\/a>). The news also got airtime from Al Tasea (<a href=\"https:\/\/www.youtube.com\/watch?v=AONwU2_0jjs\">watch, runtime: 8:20<\/a>), Ala Mas\u2019ouleety (<a href=\"https:\/\/www.youtube.com\/watch?v=poO_fB4hmWM\">watch, runtime: 4:58<\/a>), and Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=_bUQ1Ehxs6Q\">watch, runtime: 3:08<\/a>).<\/p>\n<p><strong>The state\u2019s Ebdaa initiative has helped 1.5k factories go legit <\/strong>by helping them get their licenses or finish necessary paperwork. Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=xWHVLeACoLk\">watch, runtime: 7:25<\/a>) had the story.<\/p>\n<p><strong>The Egypt-UAE golden jubilee: <\/strong>Prime Minister Moustafa Madbouly and Planning Minister Hala El Said helped kick off a three-day event celebrating 50 years of Egyptian-Emirati ties. Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=c4xja2acOTo\">watch, runtime: 3:30<\/a>) and Al Tasea (<a href=\"https:\/\/www.youtube.com\/watch?v=xensTF5BXI0\">watch, runtime: 2:50<\/a>) had the story.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industry\/\">industry<\/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\/minimum-wage\/\">minimum wage<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/prime-minister-moustafa-madbouly\/\">Prime Minister Moustafa Madbouly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550445\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n 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0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550446\" 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=\"550446\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/27\/egypt-in-the-news-our-fx-bonds-are-on-the-up-the-ft-has-a-love-letter-for-egyptian-tourism\/\">\r\n                            Egypt in the News: Our FX bonds are on the up + the FT has a love letter for Egyptian tourism                        <\/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\/27\/egypt-in-the-news-our-fx-bonds-are-on-the-up-the-ft-has-a-love-letter-for-egyptian-tourism\/\" target=\"_blank\">\n                    Open in new tab 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href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/27\/egypt-in-the-news-our-fx-bonds-are-on-the-up-the-ft-has-a-love-letter-for-egyptian-tourism\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550446\" class=\"content-area-description single-story post-550446 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-bonds tag-debt tag-domty tag-economy tag-enterpriseam tag-human-rights tag-mohamed-el-damaty tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>FROM THE DEPT. OF GOOD NEWS: <\/strong>Egypt\u2019s USD-denominated bonds have gained 5% this week, giving them a spot among the top three emerging market performers, <a href=\"https:\/\/bloom.bg\/3TFXTkx\">Bloomberg<\/a> reports. Investors are starting to dip their toes back into the country\u2019s debt market amid anticipation that an <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/872ab5ea-eecc-4f50-80c7-07e3bc6a0f9d\">agreement with the IMF<\/a> for a new bailout package is nearing.<\/p>\n<p><strong>The Financial Times has a love letter to Egypt\u2019s tourism industry. <\/strong>Headlined \u201c<a href=\"https:\/\/www.ft.com\/content\/e52c39e0-c705-45b9-b22b-6dd27bd6f9d3\">Eternal Egypt<\/a><a href=\"https:\/\/www.ft.com\/content\/e52c39e0-c705-45b9-b22b-6dd27bd6f9d3\">\u2014 a journey out of time<\/a>,\u201d it says that the nation\u2019s \u201cancient wonders still hold us spellbound, but its pulsing, intense present is just as intoxicating.\u201d We\u2019re also getting some tourism ink from <a href=\"https:\/\/www.lonelyplanet.com\/articles\/egypt-off-beaten-track\">Lonely Planet<\/a>.<\/p>\n<p><strong>Also making headlines: <\/strong><\/p>\n<ul>\n<li>Domty boss Mohamed El Damaty tells <a href=\"https:\/\/www.zawya.com\/en\/economy\/north-africa\/interview-uncertainty-in-egypts-economy-makes-2023-planning-impossible-domty-ceo-xs5hnbg6\">Zawya<\/a> that 2023 planning is a challenge amid economic turmoil.<\/li>\n<li><a href=\"https:\/\/www.technologyreview.com\/2022\/10\/25\/1060340\/alum-jailed-without-warrant\/\">MIT Technology Review<\/a> and Germany\u2019s <a href=\"https:\/\/www.dw.com\/en\/egypt-prisoner-release-sparks-hope-despite-new-crackdowns\/a-63566500\">DW<\/a> both have stories on human rights.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bonds\/\">Bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/domty\/\">Domty<\/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\/human-rights\/\">human rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-el-damaty\/\">Mohamed El Damaty<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550447\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550448\" 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=\"550448\">\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\/27\/another-subsea-cable-for-our-regional-data-hub-ambitions\/\">\r\n                            Another subsea cable for our regional data hub ambitions                        <\/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\/27\/another-subsea-cable-for-our-regional-data-hub-ambitions\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            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ambitions&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/27\/another-subsea-cable-for-our-regional-data-hub-ambitions\/\">\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\/27\/another-subsea-cable-for-our-regional-data-hub-ambitions\/&title=Another subsea cable for our regional data hub ambitions\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Another+subsea+cable+for+our+regional+data+hub+ambitions+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F27%2Fanother-subsea-cable-for-our-regional-data-hub-ambitions%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\/27\/another-subsea-cable-for-our-regional-data-hub-ambitions\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550448\" class=\"content-area-description single-story post-550448 post type-post status-publish format-standard hentry category-also-on-our-radar tag-agriculture tag-alexbank tag-also-on-our-radar tag-arab-financial-services tag-automotive tag-beltone-financial tag-elsewedy-electric tag-enterpriseam tag-qalaa-holdings tag-telecom-egypt tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Telecom Egypt inaugurated its Red2Med submarine cable <\/strong>which runs from Ras Ghareb\u2019s Red Sea to Port Said\u2019s Mediterranean through the Suez Canal, according to a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0zXjafzinNBagQk1JEyFDffCZV6cJxygrA9jR3hDhNGUHjtYw7wEumvAmUKpiQ331l\">statement<\/a>. The cable is the \u201cshortest, fastest and most secure way to transfer data between east and west,\u201d said Telecom Egypt CEO Adel Hamed. Communications Minister Amr Talaat was also present at the inauguration ceremony.<\/p>\n<p><strong>REMEMBER: TE is crazy for subsea data cables.<\/strong> More than a dozen cables currently transmit data from Egypt to Europe, and Telecom Egypt plans to add some six more cables over three years, part of national plans to become a data hub between Asia, Europe, and Africa.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>Beltone Financial<\/strong> paid USD 700k to settle a dispute with one of its US-based subsidiaries, it said yesterday, without disclosing further information. (<a href=\"https:\/\/ent.news\/2022\/10\/Beltone_26Sept22.pdf\">Disclosure, pdf<\/a>)<\/li>\n<li><strong>Alexbank<\/strong>, <strong>El Sewedy Education<\/strong>, and Italian social enterprise <strong><a href=\"https:\/\/e4impact.org\/\">E4Impact<\/a><\/strong> inked an MoU to implement and develop an agricultural entrepreneurship program. (<a href=\"https:\/\/bit.ly\/3Nck3sq\">Hapi Journal<\/a>)<\/li>\n<li><strong>Qalaa Holdings\u2019 <\/strong>appeal has been successful against a <strong>court ruling <\/strong>over USD 8.4 mn in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/72f8b22f-6c98-4949-b2a3-be55dc3948bc\">NSF checks<\/a>, and the verdict overturned. (<a href=\"https:\/\/ent.news\/2022\/10\/QH-verdict-objection.pdf\">Disclosure, pdf<\/a>)<\/li>\n<li>Payment platform <strong>Arab Financial Services<\/strong> has launched its merchant payment services in Egypt. (<a href=\"https:\/\/ent.news\/2022\/10\/Press-Release-Arab-Financial-Services-Launches-Acquiring-and-Payment-Acceptance-Services-in-Egypt.pdf\">Press release, pdf<\/a>)<\/li>\n<li><strong>Cars imported by Egyptian expats<\/strong> under the new scheme to raise FX must be from the same country in which the expat resides. (<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02JN4fDTpGxFbw7TMDar1ShJRWrCPUbGNNivbkcGBYUNiKsrBRwQ994eFJYsph2Axjl\">Finance Ministry statement<\/a>)<\/li>\n<li><strong>Egypt <\/strong>and the <strong>UAE <\/strong>discussed joint strategies to <strong>combat money laundering <\/strong>and terrorist financing. (<a href=\"https:\/\/www.wam.ae\/en\/details\/1395303095189\">WAM<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alexbank\/\">Alexbank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/arab-financial-services\/\">Arab Financial Services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/beltone-financial\/\">Beltone Financial<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/elsewedy-electric\/\">Elsewedy Electric<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qalaa-holdings\/\">Qalaa Holdings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/telecom-egypt\/\">Telecom Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550449\" 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=\"550449\">\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\/27\/coming-recession-could-be-short-and-shallow-say-economists\/\">\r\n                            Coming recession could be short and shallow, say economists                        <\/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\/27\/coming-recession-could-be-short-and-shallow-say-economists\/\" 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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Only six out of the 22 central banks polled expect to reach their inflation targets this year \u2014 raising concerns among economists that banks will continue to hike rates in a bid to tamp down on inflation. On the bright side, the poll showed the smallest gap between growth rates and unemployment in at least four decades, pointing to a common view among economists that the recession will not be too severe.<\/p><p><strong>Wall Street has conflicting views on the outlook for EM equities:<\/strong> Morgan Stanley thinks emerging market equities have bottomed out and is forecasting an average 14% rise across global EM exchanges by next summer, <a href=\"https:\/\/www.ft.com\/content\/9558c605-6e46-45fa-8a90-32346b06ef40\">the Financial Times<\/a> reports. Goldman Sachs is more defensive, saying there\u2019s no one \u201ccoherent\u201d story across EMs. The benchmark MSCI index of EM stocks is down c.30% since early January, largely thanks to China\u2019s economic downturn and the US Fed\u2019s tightening cycle. A massive USD 2.1 tn has flown out of EM stocks this year, while bond funds have racked up USD 70 bn of outflows.<\/p><p><strong>ALSO WORTH NOTING-<\/strong><\/p><ul>\n<li><strong>Gulf listings continue their hot streak:<\/strong> Saudi utility firm Marafiq has priced its IPO at the top end of the SAR 41-46 price range after receiving USD 53 bn in orders. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-25\/saudi-utility-marafiq-s-ipo-raises-draws-53-billion-in-orders?sref=mmeFTDW1\">Bloomberg<\/a>)<\/li>\n<li><strong>Saudi Aramco has launched a USD 1.5 bn sustainability fund<\/strong>, the largest fund of its kind in the world, CEO Amin Nasser said yesterday. (<a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f3bb1924-9dc1-4866-b00f-d3f50b07744c\">Enterprise Climate<\/a>)<\/li>\n<li><strong>More companies bail on Russia:<\/strong> Mercedes-Benz and Zara owner Inditex are exiting the Russian market and plan to sell their subsidiaries to local investors. (<a href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/mercedes-benz-quit-russian-market-sell-shares-local-investor-2022-10-26\/\">Reuters<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-25\/zara-s-owner-agrees-to-sell-russian-operations-to-daher-group?srnd=premium-middle-east&amp;leadSource=uverify%20wall\">Bloomberg<\/a>)<\/li>\n<\/ul><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-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>10,553<\/p>\n<\/td>\n<td>\n<p>+0.8% (YTD: -11.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 19.69<\/p>\n<\/td>\n<td>\n<p>Sell 19.77<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 19.69<\/p>\n<\/td>\n<td>\n<p>Sell 19.75<\/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>11,799<\/p>\n<\/td>\n<td>\n<p>-1.5% (YTD: +4.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>10,088<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: +18.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,346<\/p>\n<\/td>\n<td>\n<p>-0.9% (YTD: +4.7%)<\/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>3,831<\/p>\n<\/td>\n<td>\n<p>-0.7% (YTD: -19.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,056<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: -4.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td>\n<p>3,605<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: -16.1%)<\/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>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 95.95<\/p>\n<\/td>\n<td>\n<p>+0.3%<\/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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 5.68<\/p>\n<\/td>\n<td>\n<p>+1.4%<\/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 1,671.20<\/p>\n<\/td>\n<td>\n<p>+0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 20,758<\/p>\n<\/td>\n<td>\n<p>+3.1% (YTD: -54.8%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 rose 0.8% at yesterday\u2019s close<\/strong> on turnover of EGP 1.25 bn (17.9% above the 90-day average). Regional investors were net sellers. The index is down 11.7% YTD.<\/p><p><strong>In the green: <\/strong>Ezz Steel (+6.5%), Elsewedy Electric (+4.3%) and Heliopolis Housing and Development (+4.0%).<\/p><p><strong>In the red: <\/strong>Alexandria Containers and Cargo Handling (-4.0%), Orascom Construction (-2.1%) and Mopco (-1.1%).<\/p><p><strong>Asian markets are up across the board in early trading this morning<\/strong>. Futures suggest the major European markets are set to open in the red, while things are looking brighter over on Wall Street, with the three major indices likely to open in the green later on today.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aramco\/\">Aramco<\/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\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/equities\/\">equities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550450\" 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=\"550450\">\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\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/27\/my-morning-routine-mohamed-shelbaya-pepsico-egypt\/\">\r\n                            My Morning Routine: Mohamed Shelbaya, PepsiCo Egypt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/27\/my-morning-routine-mohamed-shelbaya-pepsico-egypt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Speaking to us this week is Mohamed Shelbaya, chairman and CEO of PepsiCo Egypt (<a href=\"https:\/\/www.linkedin.com\/in\/mohamed-shelbaya-86a6844\/\">LinkedIn<\/a>). Edited excerpts from our conversation:<\/p>\n<p><strong>My name is Mohamed Shelbaya.<\/strong> I\u2019m an Egyptian, a family man, an ex-basketball player, a PepsiCo executive \u2014 and a guy that doesn't take life too seriously. I\u2019ve been with Pepsi for 28 years now, and have had 12 or 15 different roles, though I've been CEO and chairman for six years.<\/p>\n<p><strong>A big part of my responsibility is taking care of the people<\/strong> because they are the ones who deliver the results. The second part is looking ahead. My job is to set our strategic priorities, make sure that we plan five years ahead, and that as we go into a year, we've planned for it well and made the right investments.<\/p>\n<p><strong>I like to wake up early at around 5am<\/strong>. For me, the best time to work is in those couple of hours in the morning. There's no disturbance, which is great for things that require me to make decisions. Then I go and work out at 7am for an hour, come back home, have my breakfast, and head to the office to start my meetings, which carry me into the evening.<\/p>\n<p><strong>The one thing I try to make a constant in my day is sports.<\/strong> It clears the mind, re-energizes the body and helps me de-stress. The days where I don't play sports, the stress gets to me. Given all the pressures and problems that come up every day, I found that I need to give my body and mind just enough time to de-stress and start the next day afresh.<\/p>\n<p><strong>When it comes to focusing and staying organized, I think that having the right team<\/strong> and having people onboard that are experts in their fields is crucial. That way, you get the right information that helps you focus and helps you make the right decision.<\/p>\n<p><strong>I like to relax at the end of day by watching TV. <\/strong>I like documentaries and comedies \u2014 usually something that doesn\u2019t require a lot of attention and can help me relax. I also like to chat with friends that have nothing to do with work. I think laughter is the best way to unwind after a stressful day.<\/p>\n<p><strong>I recently watched a documentary that I really liked called <\/strong><strong><a href=\"https:\/\/www.netflix.com\/eg-en\/title\/81452996\">the Redeem Team<\/a><\/strong><strong>. <\/strong>I love sports and sports analogies, and I believe there\u2019s a lot of lessons to be learned from sports \u2014 like the fact that it's not about the ability of the players, it's about creating the right culture for the team to succeed. That\u2019s what we do in business. We succeed together as a team, or we lose together as a team.<\/p>\n<p><strong>Honestly, I don\u2019t think I have a healthy work-life balance, and I think that a balance is impossible. <\/strong>What I've learned through the years is that it's about quality, not balance. So I try to switch off from work when I go on vacation with the family or if I go out for lunch or dinner. It\u2019s about creating memories that last. You can attend all your kids\u2019 games, but when you attend, you have to be all in. It's the worst thing to go and attend your kid\u2019s game and you\u2019re on the phone all the time. If you\u2019re with your family, be here now. And if you\u2019re at work, be here now.<\/p>\n<p><strong>I'm at a stage in my career where my priority is to give back.<\/strong> I've reached the top role here. It\u2019s not about getting more and more roles now, it\u2019s about what I can give back to my country, to the youth \u2014 what can I contribute? At this point of time, I find a lot of pleasure and value in giving back to the youth, passing on my experiences, sponsoring, and doing CSR work that helps the economy.<\/p>\n<p><strong>On a personal level, I hope to spend more time with my family<\/strong>, play more sports, and check things off my bucket list \u2014 like going to watch the Olympics and a game at the World Cup.<\/p>\n<p><strong>The best piece of advice I\u2019ve received was from one of my earlier bosses: A career is a marathon, not a sprint.<\/strong> I was very impatient at the beginning to get promoted and grow, and my boss was always saying, \u201cBuild the foundation. Don't worry about who\u2019s getting promoted ahead of you. You\u2019re going to be stronger and at the end of the marathon, you\u2019re going to be in the lead.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-shelbaya\/\">Mohamed Shelbaya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pepsico\/\">PepsiCo<\/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=\"550452\" 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\/27\/550452\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550452\" class=\"content-area-description single-story post-550452 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>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>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>First week of November: IMF delegation to visit Egypt for negotiations on loan agreement.<\/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>5-8 November (Sunday-Tuesday): Techne Summit for Investment and Entrepreneurship, Alexandria, Egypt<\/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): <a href=\"https:\/\/www.greeninitiatives.gov.sa\/about-mgi\/\">Middle East Green Initiative<\/a>, 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>11-12 November (Friday-Saturday): <a href=\"https:\/\/www.greeninitiatives.gov.sa\/about-sgi\/\">Saudi Green Initiative<\/a>, Sharm El Sheikh.<\/p>\n<p>7-13 November (Monday-Sunday): 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 \u2013 28 November (Thursday-Friday): The first edition of the <a href=\"https:\/\/twitter.com\/Extranewstv\/status\/1579478836366176256\">Egypt Media Forum<\/a>.<\/p>\n<p>27-30 November (Sunday-Wednesday): <a href=\"https:\/\/cairoict.com\/\">Cairo ICT<\/a>, Egypt International Exhibition Center, New Cairo.<\/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 Business Women of Egypt\u2019s Women for Success conference.<\/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 \u2013 15 May: 1Q2023 earnings season.<\/p>\n<p><strong>MAY 2023<\/strong><\/p>\n<p>1 May (Monday): Labor Day.<\/p>\n<p>4 May (Thursday) National holiday in observance of Labor Day (TBC).<\/p>\n<p>22-26 May (Monday-Friday): Egypt <a href=\"https:\/\/www.afdb.org\/en\/news-and-events\/press-releases\/african-development-bank-group-concludes-annual-meetings-governors-endorse-banks-vision-next-10-years-51974#:~:text=The%20new%20Board%20of%20Governors,from%2022%2D26%20May%202023.\">will host<\/a> the African Development Bank (AfDB) annual meetings in Sharm El Sheikh.<\/p>\n<p><strong>JUNE 2023<\/strong><\/p>\n<p>19-21 June (Monday-Wednesday) Egypt Infrastructure and Water Expo <a href=\"https:\/\/ent.news\/2022\/9\/Announcement__EGYPT_INFRASTRUCTURE_AND_WATER_EXPO_LAUNCHES_JUNE_2023.pdf\">debuts<\/a> at the Egypt International Exhibition Center.<\/p>\n<p>28 June-2 July (Wednesday-Sunday): Eid El Adha (TBC).<\/p>\n<p>30 June (Friday): June 30 Revolution Day.<\/p>\n<p><strong>JULY 2023<\/strong><\/p>\n<p>18 July (Tuesday): Islamic New Year.<\/p>\n<p>20 July (Thursday): National holiday in observance of Islamic New Year (TBC).<\/p>\n<p>23 July (Sunday): Revolution Day.<\/p>\n<p>27 July (Thursday): National holiday in observance of Revolution Day.<\/p>\n<p>Late July-14 August: 2Q2023 earnings season.<\/p>\n<p><strong>SEPTEMBER 2023<\/strong><\/p>\n<p>26 September (Tuesday): Prophet Muhammad\u2019s birthday (TBC).<\/p>\n<p>28 September (Thursday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/p>\n<p><strong>OCTOBER 2023<\/strong><\/p>\n<p>6 October (Friday): Armed Forces Day.<\/p>\n<p>Late October-14 November: 3Q2023 earnings season.<\/p>\n<p><strong>EVENTS WITH NO SET DATE <\/strong><\/p>\n<p>2H 2022: The inauguration of the Grand Egyptian Museum.<\/p>\n<p>2H 2022: <a href=\"https:\/\/www.ief.org\/news\/egypt-to-host-8th-ief-igu-ministerial-gas-forum-in-2022\">IEF-IGU Ministerial Gas Forum<\/a>, Egypt. Date + location TBA.<\/p>\n<p>2H 2022: The government will have vaccinated 70% of the population.<\/p>\n<p>3Q 2022: Ayady\u2019s consumer financing arm, The Egyptian Company for Consumer Finance Services, to release its first financing product.<\/p>\n<p>3Q 2022: Swvl to close <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/53e17b15-78b9-421a-81f5-9d3d5ee0227d\">acquisition of<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/53e17b15-78b9-421a-81f5-9d3d5ee0227d\">Urbvan<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/53e17b15-78b9-421a-81f5-9d3d5ee0227d\">Mobility<\/a>.<\/p>\n<p>4Q 2022: Infinity + Africa Finance Corporation to close acquisition of Lekela Power.<\/p>\n<p>4Q 2022: Electricity Ministry to tender six solar projects in Aswan Governorate.<\/p>\n<p>4Q2022: Raya Holding subsidiary Aman and Qalaa Holdings\u2019 Taqa Arabia to launch their fintech company.<\/p>\n<p>4Q 2022: Saudi Jamjoom Pharma to <a href=\"https:\/\/bit.ly\/3R7SGzP\">inaugurate its EGP 1 bn pharma factory<\/a> in El Obour.<\/p>\n<p>End of 2022: Decent Life first phase scheduled for completion.<\/p>\n<p>End of 2022: e-Aswaaq\u2019s tourism platform will complete the roll out of its ticketing and online booking portal across Egypt.<\/p>\n<p>2023: Egypt <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/380561820780911\">will host<\/a> the Asian Infrastructure Investment Bank\u2019s Annual Meeting of the Board of Governors in 2023.<\/p>\n<p>1Q 2023: Adnoc Distribution\u2019s acquisition of 50% of TotalEnergies Egypt to close.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":550428,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-550427","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"a9e20035-17c1-4efb-bfff-383cb73c6290","teaser":"","photo_url":"https:\/\/ent.news\/2022\/10\/41.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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