{"id":553593,"date":"2021-12-09T03:42:11","date_gmt":"2021-12-09T03:42:11","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=553593"},"modified":"2025-12-16T00:11:51","modified_gmt":"2025-12-16T00:11:51","slug":"ci-capital-is-going-after-a-big-stake-in-cleopatra-hospitals","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/ci-capital-is-going-after-a-big-stake-in-cleopatra-hospitals\/","title":{"rendered":"CI Capital is going after a big stake in Cleopatra Hospitals"},"content":{"rendered":"<section id=\"553595\" 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=\"553595\">\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\/2021\/12\/09\/this-morning-its-going-to-be-a-busy-day-for-diplomacy-inflation-figures-are-due-out-later-today\/\">\r\n                            THIS MORNING: It\u2019s going to be a busy day for diplomacy + inflation figures are due out later today                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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             <!-- <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\/2021\/12\/09\/this-morning-its-going-to-be-a-busy-day-for-diplomacy-inflation-figures-are-due-out-later-today\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-553595\" class=\"content-area-description single-story post-553595 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-africa tag-diplomacy tag-enterpriseam tag-fintech tag-inflation tag-investment-watch tag-israel tag-sameh-shoukry tag-startups tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Good morning, wonderful people, and happy THURSDAY.<\/strong> <strong>It\u2019s shaping up to be a diplomacy-heavy day <\/strong>as Egypt is consulted on a handful of key regional issues \u2014 and we have tons of business news for you below to get your day started.<\/p><p><strong>Thank you \u2014 each and every one of you \u2014 for deciding to start your day with Enterprise<\/strong>, for writing in with comments and story ideas, for being the best readers we could have ever asked for\u2026<\/p><p><strong>UP FIRST- Israeli Alternate Prime Minister Yair Lapid will be in town today for a meeting<\/strong> with Foreign Minister Sameh Shoukry to discuss developments in Palestine, state-run <a href=\"https:\/\/www.mena.org.eg\/ar\/news\/dbcall\/table\/textnews\/id\/9309522\">MENA<\/a> reports.<\/p><p><strong>Feltman is also dropping by to talk about the war in Ethiopia:<\/strong> US Special Envoy for the Horn of Africa Jeffrey Feltman is kicking off today a regional tour of Egypt, the UAE, and Turkey to \u201cdiscuss international support for diplomatic efforts\u201d to stop the civil war in Ethiopia, US State Department spokesperson Ned Price said, according to <a href=\"https:\/\/www.reuters.com\/article\/us-ethiopia-conflict-usa-idAFKBN2IN248\">Reuters<\/a>. <strong>Stop their war? Sure. But what about that dam, Mr. Feltman? <\/strong><\/p><p><strong>IT\u2019S INFLATION DAY- Inflation figures for November will be released today <\/strong>by Capmas and the Central Bank of Egypt. Urban inflation slipped slightly to 6.3% in October from 6.6% the month before, which was the highest reading since January 2020.<\/p><p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>SIGN OF THE TIMES #1- African startups could hit an all-time fundraising <\/strong><strong>record this year<\/strong>, with the continent\u2019s startups on track to end 2021 with USD 5 bn in the kitty \u2014 more than the past three years combined, an industry forecast showed, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-12-08\/african-startup-inflows-seen-hitting-record-5-billion-this-year?sref=mmeFTDW1\">Bloomberg<\/a>. With three more weeks left in the year, African startups have already raised a total of USD 4.8 bn in funding. <strong>The rise in inflows also helped deliver at least four new unicorns on the continent<\/strong>, one of which was Egypt-born (and Nasdaq-bound) Swvl.<\/p><p><strong>We can thank the rise of fintech and the growing interest of foreign investors for the jump<\/strong>, according to analysts. China and the US were responsible for a large portion of the inflows, as well as institutional bankers, one analyst noted, with most foreign investors taking positions in startups with a fintech component.<\/p><p><strong>SIGN OF THE TIMES #2- US whitecollar workers are looking forward to returning to the office in January. <\/strong>More than three quarters of US workers in a Fortune poll say they\u2019re returning to the office at the start of the new year \u2014 and <a href=\"https:\/\/fortune.com\/2021\/12\/08\/workers-return-office-january-omicrom-poll\/\">more than half are looking forward to it<\/a>.<\/p><p><strong>SIGN OF THE TIMES #3- The Big Four accountancy firms have had their best year in nearly two decades<\/strong>, delivering their best collective revenue performance since before Arthur Andersen collapsed (turning the Big Five into the Big Four) in the wake of the Enron scandal that turned a spotlight on ugly practices in the industry. The <a href=\"https:\/\/www.ft.com\/content\/95a0c80b-1262-42c3-ac5b-bb693e06d3c4\">Financial Times<\/a> has the story.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p><strong>THE BIG STORY ABROAD is probably Joe Biden signalling that he\u2019s not going to send US troops to Ukraine <\/strong>to discourage Vladimir Putin from invading. The story leads the <a href=\"https:\/\/www.ft.com\/content\/8b151011-2054-4aa7-8b4c-fee8835529e5\">Financial Times<\/a> and <a href=\"https:\/\/www.reuters.com\/world\/europe\/kremlin-says-both-sides-follow-up-quickly-putin-biden-talks-2021-12-08\/\">Reuters<\/a> and we have more in Around the World, below.<\/p><p><strong>Also worth a read: Is Beijing taking reining in China\u2019s central bank?<\/strong> That\u2019s the contention in a <a href=\"https:\/\/www.wsj.com\/articles\/beijing-reins-in-chinas-central-bank-11638981078?mod=hp_lead_pos2\">Wall Street Journal story<\/a> sure not to make it past the Great Firewall. The Journal reports that the bank, never fully independent as central banks are in many other countries, is losing the measure of autonomy and special status that it has previously enjoyed.<\/p><p><strong>MEANWHILE-<\/strong><\/p><p><strong>The FRA\u2019s sustainable finance training program launches today: <\/strong>The Financial Regulatory Authority (FRA) is kicking off its Regional Center for Sustainable Finance training program today, the authority said in a <a href=\"https:\/\/bit.ly\/3IsjyYi\">statement<\/a>. The program aims to help SMEs access green financing tools without having to hire international experts to meet requirements. The FRA\u2019s Regional Center for Sustainable Finance was established<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c262cfbd-5989-4d2e-8cf7-648137a3a1ec\">earlier this year<\/a>. Partners in the program include the <a href=\"https:\/\/www.climatebonds.net\/\">Climate Bonds Initiative<\/a>, the UK government-funded North Africa Technical Assistance Facility and the British Embassy in Cairo<\/p><p><strong>Schools and ports in Alexandria are back open today as weather conditions <\/strong><strong>stabilize across the country<\/strong>, director of the Egyptian Meteorological Authority\u2019s forecasting center Mahmoud Shahin told Ala Masouleety\u2019s Ahmed Moussa (<a href=\"https:\/\/www.facebook.com\/watch\/?v=2878067135838015\">watch, runtime: 3:07<\/a>). Alexandria\u2019s decision to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3a740387-62e6-4e6a-b5ef-f07d6bef5c1a\">suspend schools<\/a> yesterday helped the governorate get ahead of the rainfall and clear its streets of accumulated water, Alexandria Governor Mohamed El Sherif told Al Hayah Al Youm\u2019s Lobna Assal (<a href=\"https:\/\/www.youtube.com\/watch?v=lgUsu3v6Vwc\">watch, runtime: 5:42<\/a>).<\/p><p><strong>Bouts of heavy winds and rain led to three deaths<\/strong> in Beheira, Gharbia, and Sharqia, where lampposts and trees fell on passersby, Local Development Ministry spokesperson Khaled Qassem told Masaa DMC\u2019s Ramy Radwan (<a href=\"https:\/\/www.youtube.com\/watch?v=s_QmzJIQxU8\">watch, runtime: 5:22<\/a>). Alexandria suffered similar incidents, but no injuries or deaths have been reported, although a number of cars were reportedly destroyed, Radwan also noted (<a href=\"https:\/\/www.youtube.com\/watch?v=aLlmW9JwNMQ\">watch, runtime: 1:08<\/a>).<\/p><p><strong>Also today: Walk-ins for second vaccine doses will be allowed.<\/strong> Individuals who received the first dose of their covid-19 vaccine but missed the appointment for their second jab can visit the center where they got their first dose and get their second on the spot, acting Health Minister Khaled Abdel Ghaffar said <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/79a6dfea-ba14-44d5-85d5-6388a05cb403\">earlier this week<\/a>.<\/p><p><strong>HAPPENING SOON-<\/strong><\/p><p><strong><a href=\"https:\/\/www.woodshowglobal.com\/cairo\">The Cairo Woodshow<\/a><\/strong><strong> kicks off today<\/strong> at the Cairo International Convention Center<\/p><p><strong>It\u2019s the second day of <\/strong><strong><a href=\"https:\/\/www.gfhsegypt.com\/\">the Global Forum for Higher Education and Scientific Research<\/a><\/strong> which runs through to tomorrow at the St. Regis Al Masa Convention Center.<\/p><p><strong>The new round of Silicon Waha\u2019s Startup Factory will kick off<\/strong> tomorrow at the Assiut Technology Zone. The program will offer marketing tips and tricks for startup founders, who can apply <a href=\"https:\/\/bit.ly\/Startupfactory\">here<\/a>.<\/p><p><strong>Young professionals have until next Sunday to apply to the McKinsey Forward program<\/strong> which focuses on leadership, business, and the transition to digital, McKinsey announced in a <a href=\"https:\/\/ent.news\/2021\/11\/Forward-Launch-Press-Release_ENG.pdf\">press release (pdf)<\/a>. The six-month program aims to teach participants how their business can combat challenges and use them to their advantage, integrate tech, and be adaptable and resilient during times of change. Forward will be available without charge to those eligible to apply, and one of the requirements is having less than five years of work experience. You can apply <a href=\"https:\/\/www.mckinsey.com\/forward\/locations\/middle-east\">via this link<\/a> before the deadline.<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>Booster shot registration:<\/strong> The Health Ministry will begin allowing senior citizens with chronic medical conditions, as well as all medical staff, to register for a booster covid-19 vaccine as of next Sunday, 12 December.<\/p><p><strong>Interest rates:<\/strong> The Central Bank of Egypt\u2019s Monetary Policy Committee will hold its final meeting for the year to review interest rates on Thursday, 16 December.<\/p><p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\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\/africa\/\">Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/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\/investment-watch\/\">investment watch<\/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\/sameh-shoukry\/\">Sameh Shoukry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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=\"553596\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            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<\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"553597\" 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=\"553597\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/ci-capital-pushing-into-the-private-healthcare-sector\/\">\r\n                            CI Capital pushing into the private healthcare sector                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    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<\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/ci-capital-pushing-into-the-private-healthcare-sector\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/271.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"553598\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/ci-capital-pushing-into-the-private-healthcare-sector\/271-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/271.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"271.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/271.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/271.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-553597\" class=\"content-area-description single-story post-553597 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-banque-misr tag-care-healthcare tag-ci-capital tag-cleopatra-hospitals-group tag-enterpriseam tag-financial-regulatory-authority tag-ma-watch tag-mci-capital wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <sup><\/sup><strong>CI Cap<\/strong><sup><\/sup><sup><\/sup><strong>ital is staking its claim in Egypt\u2019s healthcare sector with a bid<\/strong><strong> to acquire more than a quarter of Cleopatra Hospitals Group<\/strong> (CHG), the country\u2019s second-largest healthcare company<sup><\/sup>. MCI Capital Healthcare Partners, a subsidiary of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9a70b224-fa29-4d0c-b29b-3f5cc195752d\">state-owned<\/a> financial services company, has submitted a voluntary tender offer to acquire a 26.2% stake in CHG at a cost of EGP 2 bn, the Financial Regulatory Authority (FRA) said in a <a href=\"https:\/\/ent.news\/2021\/12\/Cleopatra-stake-sale-8-December.pdf\">regulatory filing (pdf)<\/a> yesterday. MCI Capital has offered to purchase the shares at EGP 5 apiece, valuing the company at EGP 8 bn.<sup><\/sup> CI Capital declined to comment on the transaction when approached by Enterprise.<\/p>\n<p><strong>Cleopatra\u2019s share price surged on the news<\/strong>, gaining nearly 4.7% yesterday to close at EGP 4.70 apiece. CI Capitals shares gained 1% to close at EGP 4.10.<\/p>\n<p><strong>The company\u2019s<\/strong><strong> single biggest shareholder<\/strong><sup><\/sup><strong> is on board:<\/strong> Creed Healthcare, which owns 37.9% of CHG through its subsidiary Care Healthcare, has agreed to sell an 8-12% stake in the company from its holdings (126 mn-192 mn shares) to MCI, CHG\u2019s corporate strategy and IR director Hassan Fikry told us. This would reduce its stake in CHG to 26-30%, but maintain its position as its largest shareholder, netting Creed shareholders as much as EGP 960 mn.<\/p>\n<p><strong>What\u2019s Creed:<\/strong> Creed used to own more than two-thirds of CHG but <a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/14\/care-healthcare-divests-31-5-stake-in-cleopatra-hospitals\/\">divested a 31.5% stake<\/a> in 2019. Creed shareholders include the European Bank for Reconstruction and Development, France\u2019s Proparco, Germany\u2019s DEG alongside <a href=\"http:\/\/resources.inktankir.com\/clho\/CHG-Investor-Presentation-9M2021.pdf\">private equity firms (pdf)<\/a>. Mid-market investment firm <a href=\"https:\/\/www.rmbv.net\/\">RMBV<\/a>\u2019s Ahmed Badreldin helped create Cleo and is now chairman of the board, sitting as a representative of Creed. RMBV is a double-bottom-line firm with holdings in Egypt, Tunisia, Libya, Algeria, Morocco, Senegal and Ivory Coast, including EGX-listed higher ed outfit Taaleem in Egypt.<\/p>\n<p><strong>Who else owns a chunk of Cleopatra? <\/strong>Some 62% of the company\u2019s shares are held by \u201cothers,\u201d according to the company\u2019s investor deck, which notes that key freefloat shareholders include Franklin Templeton Investments, VanEck, Norges Bank, Wasatch Funds, and Consilium Investment Management.<\/p>\n<p><strong>The <\/strong><strong>acquisition bid comes on the back of a strong 2021 for the healthcare company<\/strong>, which has <a href=\"https:\/\/ent.news\/2021\/11\/Cleopatra-ER-3Q2021-E-vifnal.pdf\">reported (pdf)<\/a> 58% earnings growth during the first nine months of the year. CHG posted net income of EGP 288.1 mn during the period on the back of 38% growth of revenue.<\/p>\n<p><strong>What are the next steps: <\/strong>The transaction is still subject to the approval of the FRA. If CI Capital\u2019s bid is approved and its transaction vehicle closes on the 8-12% from Care Healthcare, MCI will likely acquire the rest of the shares through the EGX.<\/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\/banque-misr\/\">Banque Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/care-healthcare\/\">Care Healthcare<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ci-capital\/\">CI Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cleopatra-hospitals-group\/\">Cleopatra Hospitals Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mci-capital\/\">MCI Capital<\/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=\"553599\" 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=\"553599\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/no-management-shake-up-at-sodic\/\">\r\n                            No management shake-up at SODIC                        <\/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\/2021\/12\/09\/no-management-shake-up-at-sodic\/\" 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\/2021\/12\/09\/no-management-shake-up-at-sodic\/')\">\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\/2021\/12\/09\/no-management-shake-up-at-sodic\/\">\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=No management shake-up at SODIC&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/no-management-shake-up-at-sodic\/\">\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\/2021\/12\/09\/no-management-shake-up-at-sodic\/&title=No management shake-up at SODIC\">\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=No+management+shake-up+at+SODIC+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F09%2Fno-management-shake-up-at-sodic%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\/2021\/12\/09\/no-management-shake-up-at-sodic\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-553599\" class=\"content-area-description single-story post-553599 post type-post status-publish format-standard hentry category-ma-watch tag-adq tag-aldar-properties tag-enterpriseam tag-ma-watch tag-sodic wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>SODIC management is staying on post-ADQ \/ Aldar acquisition:<\/strong> The Emirati consortium of real estate giant Aldar Properties and Abu Dhabi sovereign wealth fund ADQ is planning to keep the executive management at SODIC unchanged after acquiring 85.5% of the upmarket real estate player, <a href=\"https:\/\/alborsaanews.com\/2021\/12\/08\/1489060\">Al Borsa<\/a> reports, citing unnamed sources.<\/p>\n<p><strong>Both sides of the agreement are happy with the partnership:<\/strong> SODIC was Aldar\u2019s top pick as an entry point into Egypt\u2019s real estate market, Aldar CEO Talal Al Dhiyebi said earlier this week. The Emirati real estate player had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a0a12ab5-51fd-4f47-a266-6e199dafba68\">also previously signaled<\/a> that it plans to grow its footprint in the market and is \u201ccurrently assessing\u201d several potential ventures. Meanwhile, SODIC Managing Director Magued Sherif said the Emirati consortium\u2019s acquisition of a majority share in the company \u201cprovides SODIC\u2019s shareholders with immediate and substantial cash value reflecting the company\u2019s solid financial position and strong brand equity.\u201d<\/p>\n<p><strong>Refresher:<\/strong> Aldar and ADQ had bid for up to 90% of SODIC in an offer first put forward <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/65445c53-bf8c-4144-8e37-6daa4e7031c0\">in March<\/a>, originally saying they would offer EGP 18-19 per share, before upping their offer to EGP 20 per share in their mandatory tender offer <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/248e5d41-7c58-42ed-abe9-f67d9ac74995\">in September<\/a>.<\/p>\n<p><strong>The transaction is expected to be finalized in the coming days<\/strong> and the shares will be transferred by 16 December, Aldar said after the conclusion of the mandatory tender offer <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6ff33ea0-89c5-479c-87c3-bace1f57c63c\">earlier this week<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/adq\/\">ADQ<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aldar-properties\/\">Aldar Properties<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"553600\" 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=\"553600\">\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\">Privatization<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/abu-qir-to-sell-up-to-10-stake-in-secondary-offering\/\">\r\n                            Abu Qir to sell up to 10% stake in secondary offering                        <\/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\/2021\/12\/09\/abu-qir-to-sell-up-to-10-stake-in-secondary-offering\/\" 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\/2021\/12\/09\/abu-qir-to-sell-up-to-10-stake-in-secondary-offering\/')\">\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\/2021\/12\/09\/abu-qir-to-sell-up-to-10-stake-in-secondary-offering\/\">\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=Abu Qir to sell up to 10% stake in secondary offering&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/abu-qir-to-sell-up-to-10-stake-in-secondary-offering\/\">\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\/2021\/12\/09\/abu-qir-to-sell-up-to-10-stake-in-secondary-offering\/&title=Abu Qir to sell up to 10% stake in secondary offering\">\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=Abu+Qir+to+sell+up+to+10%25+stake+in+secondary+offering+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F09%2Fabu-qir-to-sell-up-to-10-stake-in-secondary-offering%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\/2021\/12\/09\/abu-qir-to-sell-up-to-10-stake-in-secondary-offering\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/272.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"553601\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/abu-qir-to-sell-up-to-10-stake-in-secondary-offering\/272-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/272.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"272.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/272.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/272.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-553600\" class=\"content-area-description single-story post-553600 post type-post status-publish format-standard has-post-thumbnail hentry category-privatization-watch tag-abu-qir-fertilizers tag-al-ahly-pharos tag-ci-capital tag-efg-hermes tag-egx tag-enterpriseam tag-fertilizers tag-privatization-watch tag-renaissance-capital tag-state-privatization-program wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Abu Qir Fertilizers<\/strong><strong> will sell up to 10% of its shares in a secondary offering on the <\/strong><strong>EGX<\/strong>, the company announced in <a href=\"https:\/\/ent.news\/2021\/12\/Abu-Qir-Disclosure-December-7.pdf\">a bourse disclosure (pdf)<\/a> yesterday. The state-owned company didn\u2019t give any indication of when the sale might go ahead, but Emad El Din Mostafa, the head of the Chemical Industries Holding Company \u2014 an Abu Qir shareholder \u2014 <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a194c9ca-3c90-49df-aab4-edc1eb608d7b\">told us last week<\/a> that the transaction could close before the end of the year, with a virtual roadshow targeting potential institutional investors currently underway. Mostafa also confirmed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/63b2e2c2-100f-46b8-80b7-d94bb2c71f1c\">earlier this week<\/a> that this plan hasn\u2019t been affected by the emergence of Omicron.<sup><\/sup><\/p>\n<p><strong>We now know who\u2019s marketing the shares: <\/strong>The state-owned company has appointed EFG Hermes, CI Capital, Renaissance Capital, and Al Ahly Pharos to underwrite the transaction, according to the disclosure. Several of the investment banks<sup><\/sup> we contacted yesterday declined to comment on where they\u2019re promoting the sale and would not provide any color on the transaction.<\/p>\n<p><strong>Abu Qir\u2019s secondary offering will come as part of this year\u2019s revival of the state privatization program<\/strong>, starting with e-Finance, which completed the EGX\u2019s biggest IPO in years <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/23beb734-9f6f-4c55-9143-7c6935ecf804\">in October<\/a>, raising some USD 370 mn. Football club Ghazl El Mahalla is also set to make its debut on the EGX in a \u201cmicro-IPO\u201d <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/63b2e2c2-100f-46b8-80b7-d94bb2c71f1c\">in two weeks<\/a>.<\/p>\n<p><strong>The <\/strong><strong>stake sale<\/strong><sup><\/sup><strong> has been years in the making:<\/strong> Abu Qir has pushed back the secondary stake sale several times since first announcing it in 2018, with the state\u2019s privatization program suffering delays thanks largely to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/82f7037f-4711-42cd-a7d1-7f4f6ab1f06e\">global market turmoil<\/a> and then the pandemic.<\/p>\n<p><strong>Abu Qir\u2019s earnings have been consistently strong recently.<\/strong> The company reported a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1921d091-aafd-4921-a856-26c56db83328\">30% rise<\/a> in net income during FY2020-2021, and saw its quarterly earnings almost double to EGP 1.3 bn in 1Q2021-2022, which it attributed to higher international prices and strong demand.<\/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\/abu-qir-fertilizers\/\">Abu Qir Fertilizers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/al-ahly-pharos\/\">Al Ahly Pharos<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ci-capital\/\">CI Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fertilizers\/\">fertilizers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/privatization-watch\/\">privatization watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renaissance-capital\/\">Renaissance Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-privatization-program\/\">state privatization program<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"553602\" 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=\"553602\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/sumeds-oil-shipments-at-their-highest-in-november-since-may-2020\/\">\r\n                            Sumed\u2019s oil shipments at their highest in November since May 2020                        <\/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\/2021\/12\/09\/sumeds-oil-shipments-at-their-highest-in-november-since-may-2020\/\" 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\/2021\/12\/09\/sumeds-oil-shipments-at-their-highest-in-november-since-may-2020\/')\">\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\/2021\/12\/09\/sumeds-oil-shipments-at-their-highest-in-november-since-may-2020\/\">\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=Sumed\u2019s oil shipments at their highest in November since May 2020&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/sumeds-oil-shipments-at-their-highest-in-november-since-may-2020\/\">\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\/2021\/12\/09\/sumeds-oil-shipments-at-their-highest-in-november-since-may-2020\/&title=Sumed\u2019s oil shipments at their highest in November since May 2020\">\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=Sumed%E2%80%99s+oil+shipments+at+their+highest+in+November+since+May+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F09%2Fsumeds-oil-shipments-at-their-highest-in-november-since-may-2020%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\/2021\/12\/09\/sumeds-oil-shipments-at-their-highest-in-november-since-may-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/273.png?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"553603\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/sumeds-oil-shipments-at-their-highest-in-november-since-may-2020\/273-png\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/273.png?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"273.png\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/273.png?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/273.png?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-553602\" class=\"content-area-description single-story post-553602 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-energy tag-enterpriseam tag-oil-and-gas tag-poland tag-saudi-arabia 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>Oil shipments through Egypt\u2019s Sumed pipeline hit an 18-month high in November<\/strong>, with north of 700k bbl\/d of crude flowing out of the pipeline last month, data compiled by <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-12-08\/egypt-oil-pipeline-sees-flows-surge-with-poland-biggest-buyer?sref=mmeFTDW1\">Bloomberg<\/a> shows. Although this is the highest level since May 2020, it remains 150k bbl\/d below pre-pandemic levels. This uptick comes 18 months after shipment activity had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/02f1e23a-4bd9-4a26-9a93-592e51140fa0\">fallen due to covid-19 slashing demand<\/a> and leading countries to cut production levels by 10%.<\/p>\n<p><strong>Poland and the Netherlands were Sumed\u2019s biggest export markets in November<\/strong>, rather than the usual Mediterranean destinations of Italy, Spain, Greece and Turkey. Poland emerged as the largest buyer. This shift comes amid increasing tensions between Poland and its neighboring countries Russia and Belarus, which had been Warsaw\u2019s biggest suppliers, prompting Poland to look towards alternative sources.<\/p>\n<p><strong>Stockpiles at the pipeline\u2019s Sidi Kerir storage tanks have been growing over the past several months as OPEC+ ramped up its output targets<\/strong>, leading to crude oil deliveries to the pipeline outpacing offtake. The majority of the crude shipments to the pipeline were sourced from Saudi Arabia, according to the business information service.<\/p>\n<p><strong>Why Sumed is an attractive option for oil shipments: <\/strong>The Sumed pipeline allows giant shippers to carry crude from a terminal in Ain Sokhna to storage tanks near Alexandria on the Mediterranean without having to pass through the Suez Canal. Offloading some of their cargo into one end of the pipeline in Ain Sokhna allows the carriers to cross the Suez Canal (without sitting too deep in the water) and then refill in Sidi Kerir. They can also fully offload their cargo to westbound tankers stationed on the other side and move to their next consignment.<\/p>\n<p><strong>This bodes well for our energy hub ambitions: <\/strong>The uptake in Sumed shipments, along with our LNG exports <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b05357d8-d636-4372-a069-cf77d948b1e7\">maxing out<\/a> following a summer lull and recent agreements to build subsea pipelines with <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/891598e1-8197-40e4-91d6-93e212f9c000\">Greece<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/721b0df8-87fd-400e-af60-663496bde9e8\">Cyprus<\/a>, can help Egypt consolidate its position as a regional energy hub and a key source of energy for Europe.<\/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\/energy\/\">energy<\/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\/poland\/\">Poland<\/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=\"553604\" 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=\"553604\">\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\">Privatization<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/sfe-is-pushing-ahead-with-siemens-stake-sale-privatizing-military-businesses\/\">\r\n                            SFE is pushing ahead with Siemens stake sale + privatizing military businesses                        <\/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\/2021\/12\/09\/sfe-is-pushing-ahead-with-siemens-stake-sale-privatizing-military-businesses\/\" 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\/2021\/12\/09\/sfe-is-pushing-ahead-with-siemens-stake-sale-privatizing-military-businesses\/')\">\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\/2021\/12\/09\/sfe-is-pushing-ahead-with-siemens-stake-sale-privatizing-military-businesses\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=SFE is pushing ahead with Siemens stake sale + privatizing military businesses&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/sfe-is-pushing-ahead-with-siemens-stake-sale-privatizing-military-businesses\/\">\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\/2021\/12\/09\/sfe-is-pushing-ahead-with-siemens-stake-sale-privatizing-military-businesses\/&title=SFE is pushing ahead with Siemens stake sale + privatizing military businesses\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=SFE+is+pushing+ahead+with+Siemens+stake+sale+%2B+privatizing+military+businesses+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F09%2Fsfe-is-pushing-ahead-with-siemens-stake-sale-privatizing-military-businesses%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\/2021\/12\/09\/sfe-is-pushing-ahead-with-siemens-stake-sale-privatizing-military-businesses\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-553604\" class=\"content-area-description single-story post-553604 post type-post status-publish format-standard hentry category-privatization-watch tag-ayman-soliman tag-enterpriseam tag-privatization-watch tag-safi tag-sovereign-fund-of-egypt tag-state-privatization-program tag-wataniya-petroleum wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Updates on the Siemens power plants + military companies\u2019 privatization from <\/strong><strong>the SFE:<\/strong> The Sovereign Fund of Egypt (SFE) and the Electricity Ministry are nearly done with studies on how best to move forward with a stake sale in the Siemens \/ Orascom Construction \/ Elsewedy Electric <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/25\/actis-confirms-its-bidding-for-a-stake-in-egypts-combined-cycle-plants-6971\/\">combined-cycle power plant<\/a>, CEO Ayman Soliman said in a phone-in with Bloomberg Asharq (<a href=\"https:\/\/www.asharqbusiness.com\/?utm_source=KwikPlayer&utm_medium=KwikShare&utm_campaign=KwikMotion\">watch, runtime: 17:01<\/a>). The study is being conducted in light of the recent volatility in global energy markets and the transition towards clean energy, Soliman said.<\/p>\n<p><strong>The SFE is also nearly done with restructuring <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/14b94986-d461-4f36-ab26-cf9227098f74\">bottled water<\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/14b94986-d461-4f36-ab26-cf9227098f74\">brand<\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/14b94986-d461-4f36-ab26-cf9227098f74\">Safi and Wataniya Petroleum<\/a><\/strong><strong> ahead of selling stakes in the companies<\/strong> to private investors as part of the SFE\u2019s plan to open up military-affiliated businesses for private ownership, Soliman said. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5a942317-1102-4ec1-9b16-79861b30fcfd\">Last we heard<\/a>, the SFE had been planning to go ahead with the sale of a stake in Wataniya before the end of the year. Plans to sell stakes in other companies owned by the Defense Ministry\u2019s National Service Products Organization are still in the pipeline but the fund has yet to begin taking concrete steps on that front, according to Soliman. The fund\u2019s chief executive had previously <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fe83dcb9-73a2-4e07-bf83-368fdb303009\">said<\/a> that 10 military subsidiaries are being assessed for potential co-investment.<\/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\/ayman-soliman\/\">Ayman Soliman<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-privatization-program\/\">state privatization program<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wataniya-petroleum\/\">Wataniya Petroleum<\/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=\"553605\" 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=\"553605\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/minly-acquires-emirati-competitor-oulo\/\">\r\n                            Minly acquires Emirati competitor Oulo                        <\/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\/2021\/12\/09\/minly-acquires-emirati-competitor-oulo\/\" 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\/2021\/12\/09\/minly-acquires-emirati-competitor-oulo\/')\">\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\/2021\/12\/09\/minly-acquires-emirati-competitor-oulo\/\">\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=Minly acquires Emirati competitor Oulo&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/minly-acquires-emirati-competitor-oulo\/\">\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\/2021\/12\/09\/minly-acquires-emirati-competitor-oulo\/&title=Minly acquires Emirati competitor Oulo\">\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=Minly+acquires+Emirati+competitor+Oulo+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F09%2Fminly-acquires-emirati-competitor-oulo%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\/2021\/12\/09\/minly-acquires-emirati-competitor-oulo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/274.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"553606\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/minly-acquires-emirati-competitor-oulo\/274-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/274.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"274.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/274.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/274.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-553605\" class=\"content-area-description single-story post-553605 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam tag-minly tag-startup-watch tag-startups 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>Minly taps into the Gulf: <\/strong>Egypt-based customized celeb video platform <a href=\"https:\/\/minlyapp.com\/\">Minly<\/a> <sup><\/sup><sup><\/sup>acquired Emirati celebrity shout-out platform <a href=\"https:\/\/www.oulo.com\/\">Oulo<\/a> for an undisclosed amount, according to a <a href=\"https:\/\/www.zawya.com\/mena\/en\/press-releases\/story\/MENAs_fastest_growing_media__entertainment_startup_Minly_acquires_dubais_leading_celebrity_shout_out_platform_Oulo-ZAWYA20211208104907\/\">company statement<\/a>. This comes six months after Minly <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b5bc6746-5f51-4c6a-8c3f-728ff96dade0\">closed a USD 3.6 mn seed round<\/a> co-led by 4DX Ventures, B&Y Venture Partners, and Global Ventures. Minly said it would use the proceeds to expand across the region and introduce a suite of new products.<\/p>\n<p><strong>What\u2019s Minly? <\/strong>Minly allows fans to request personalized videos from celebrities, influencers, or musicians for a price \u2014 similar to the US\u2019 <a href=\"https:\/\/www.cameo.com\/\">Cameo<\/a>. Minly has accumulated over 130k users, who can choose between around 1k celebrities, including Tamer Hosny, Hazem Imam and Sawsan Badr.<\/p>\n<p><strong>Minly is expanding quickly: <\/strong>The company recently launched Minly Watch, a service which gives users the ability to virtually attend events. The platform debuted with an exclusive concert from Egyptian rapper Wegz which had over 32k attendees.<\/p>\n<p><strong>About Oulo: <\/strong>Founded in 2020, the company operates similarly to Minly, it allows users to pay for customized video messages from over 300 celebrities across Lebanon, Jordan, Iraq and Saudi Arabia, including Bassel Khaiat, Ali Jaber and Maguy Farah.<\/p>\n<p><strong>The acquisition will bring Minly new clientele<\/strong>, as it will take on Oulo\u2019s pan-Arab Leviathan stars. \u201cHistorically, the majority of pan-Arab celebrities were either Egyptian or Lebanese. Therefore, combining forces unlocks immense synergies as, together, we dominate the two most important sources of cultural content,\u201d Oulo CEO Kamal Nazha <a href=\"https:\/\/techcrunch.com\/2021\/12\/08\/egypt-celebrity-platform-minly-acquires-dubais-oulo-to-consolidate-its-position-in-the-gcc\/\">added<\/a>.<\/p>\n<p><strong>Our WHAT\u2019S NEXT vertical reported last week that its increasingly common for startups to acquire other early-stage companies. <\/strong>Go read: <a href=\"https:\/\/enterprise.press\/whatsnexts\/whats-next\/\">M&A looks set to be What\u2019s Next on Planet Startup<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/minly\/\">Minly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"553607\" 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=\"553607\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">Kudos<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/kudos-dina-ayman-on-forbes-under-30-sodic-gets-procurement-excellence-certificate\/\">\r\n                            Kudos: Dina Ayman on Forbes\u2019 under 30 + SODIC gets procurement excellence certificate                        <\/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\/2021\/12\/09\/kudos-dina-ayman-on-forbes-under-30-sodic-gets-procurement-excellence-certificate\/\" 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\/2021\/12\/09\/kudos-dina-ayman-on-forbes-under-30-sodic-gets-procurement-excellence-certificate\/')\">\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\/2021\/12\/09\/kudos-dina-ayman-on-forbes-under-30-sodic-gets-procurement-excellence-certificate\/\">\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=Kudos: Dina Ayman on Forbes\u2019 under 30 + SODIC gets procurement excellence certificate&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/kudos-dina-ayman-on-forbes-under-30-sodic-gets-procurement-excellence-certificate\/\">\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\/2021\/12\/09\/kudos-dina-ayman-on-forbes-under-30-sodic-gets-procurement-excellence-certificate\/&title=Kudos: Dina Ayman on Forbes\u2019 under 30 + SODIC gets procurement excellence certificate\">\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=Kudos%3A+Dina+Ayman+on+Forbes%E2%80%99+under+30+%2B+SODIC+gets+procurement+excellence+certificate+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F09%2Fkudos-dina-ayman-on-forbes-under-30-sodic-gets-procurement-excellence-certificate%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\/2021\/12\/09\/kudos-dina-ayman-on-forbes-under-30-sodic-gets-procurement-excellence-certificate\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-553607\" class=\"content-area-description single-story post-553607 post type-post status-publish format-standard hentry category-kudos tag-dina-ayman tag-enterpriseam tag-kudos tag-sodic wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>KUDOS-<\/strong><\/p>\n<p><strong>Egyptian-American software engineer Dina Ayman was <\/strong><strong><a href=\"https:\/\/www.forbes.com\/profile\/dina-ayman\/?sh=16742298171f\">chosen<\/a><\/strong><strong> among Forbes\u2019 30 <\/strong><strong>under 30<\/strong> in the Enterprise Technology category. Ayman is an advocate for diversity, a program manager at Microsoft and an adjunct professor in computer engineering at the New Jersey Institute of Technology.<\/p>\n<p><strong>Real estate giant SODIC became the first recipient of procurement excellence <\/strong><strong>certificate in Egypt: <\/strong>SODIC earned a Procurement Excellence Programme Award from the Chartered Institute of Procurement & Supply, the company said in a <a href=\"https:\/\/ent.news\/2021\/12\/20211205-SODIC-PEP-award-En-VF.pdf\">statement<\/a><a href=\"https:\/\/ent.news\/2021\/12\/20211205-SODIC-PEP-award-En-VF.pdf\">(pdf)<\/a>. The award is given to companies who demonstrate excellent procurement and supply-chain practices.<\/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\/dina-ayman\/\">Dina Ayman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kudos\/\">KUDOS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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=\"553608\" 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=\"553608\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/553608\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-553608\" class=\"content-area-description single-story post-553608 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/www.sodic.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/Tactical-Male-1600WX800H-for-web.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"553609\" 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=\"553609\">\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\/2021\/12\/09\/last-nights-talk-shows-upskilling-egypts-job-market-the-latest-on-the-sfes-projects\/\">\r\n                            Last Night\u2019s Talk Shows: Upskilling Egypt\u2019s job market + the latest on the SFE\u2019s 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\/2021\/12\/09\/last-nights-talk-shows-upskilling-egypts-job-market-the-latest-on-the-sfes-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\/2021\/12\/09\/last-nights-talk-shows-upskilling-egypts-job-market-the-latest-on-the-sfes-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\/2021\/12\/09\/last-nights-talk-shows-upskilling-egypts-job-market-the-latest-on-the-sfes-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=Last Night\u2019s Talk Shows: Upskilling Egypt\u2019s job market + the latest on the SFE\u2019s projects&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/last-nights-talk-shows-upskilling-egypts-job-market-the-latest-on-the-sfes-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\/2021\/12\/09\/last-nights-talk-shows-upskilling-egypts-job-market-the-latest-on-the-sfes-projects\/&title=Last Night\u2019s Talk Shows: Upskilling Egypt\u2019s job market + the latest on the SFE\u2019s 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=Last+Night%E2%80%99s+Talk+Shows%3A+Upskilling+Egypt%E2%80%99s+job+market+%2B+the+latest+on+the+SFE%E2%80%99s+projects+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F09%2Flast-nights-talk-shows-upskilling-egypts-job-market-the-latest-on-the-sfes-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\/2021\/12\/09\/last-nights-talk-shows-upskilling-egypts-job-market-the-latest-on-the-sfes-projects\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-553609\" class=\"content-area-description single-story post-553609 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-automation tag-ayman-soliman tag-education tag-employment tag-energy tag-enterpriseam tag-hala-el-said tag-ipo-watch tag-last-nights-talk-shows tag-national-security tag-sovereign-fund-of-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a><strong> SMART POLICY- Leading coverage on last night\u2019s talk shows: The government wants to upskill the labor market to stop robots stealing our jobs. <\/strong>Egypt wants to tackle the issue of jobs at risk due to automation, Planning Minister Hala El Said said on the opening day of the <a href=\"https:\/\/www.gfhsegypt.com\/\">Global Forum for Higher Education and Scientific Research (GFHS)<\/a>. Technical developments in production are changing the jobs market, while new skills like big data, robotics and artificial intelligence are now in demand, El Said said (<a href=\"https:\/\/www.youtube.com\/watch?v=o23pnvdl9z0\">watch, runtime: 3:56<\/a>). She\u2019s looking at ways the country can close the skills gap in the labor market, citing a January <a href=\"https:\/\/ent.news\/2021\/12\/what-happened-to-jobs-at-high-risk-of-automation-2021.pdf\">OECD report (pdf)<\/a>, which said that automation will put 14% of jobs at high risk. A <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0b4de7f5-92f8-4309-8217-33e7a7e86949\">similar study<\/a> from Nexford University found that at least half of white collar employers believe their employees need upskilling, with the majority of respondents pointing to digital skills as the most lacking. <sup><\/sup><\/p>\n<p><strong>Also during the forum:<\/strong> President Abdel Fattah El Sisi decided to offer 100 scholarships at Egyptian universities to talented students from around the world (<a href=\"https:\/\/www.youtube.com\/watch?v=RO81uFDWtvw\">watch, runtime: 1:39<\/a>). The forum earned coverage from Al Hayah Al Youm\u2019s Lobna Assal (<a href=\"https:\/\/www.youtube.com\/watch?v=NCUrnkZaQZI\">watch, runtime: 3:47<\/a>), Masaa DMC\u2019s Ramy Radwan (<a href=\"https:\/\/www.youtube.com\/watch?v=9mWGFiRHjBA\">watch, runtime: 1:24<\/a>), and Ala Mas\u2019ouleety\u2019s Ahmed Moussa (<a href=\"https:\/\/www.facebook.com\/watch\/?v=890211231674773\">watch, runtime: 3:07<\/a>).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automation\/\">automation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ayman-soliman\/\">Ayman Soliman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/employment\/\">employment<\/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\/hala-el-said\/\">Hala El Said<\/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\/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\/national-security\/\">national security<\/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=\"553610\" 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: 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stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" 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class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-7u3tuov\" data-v=\"4\" data-block-id=\"7u3tuov\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-7u3tuov-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-7u3tuov-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button 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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=\"553611\" 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=\"553611\">\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\/2021\/12\/09\/egypt-in-the-news-unhealthy-eating-habits-patrick-zackis-release-frances-arms-sales-to-mena\/\">\r\n                            Egypt in the News: Unhealthy eating habits, Patrick Zacki\u2019s release, France\u2019s arms sales to MENA                        <\/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\/2021\/12\/09\/egypt-in-the-news-unhealthy-eating-habits-patrick-zackis-release-frances-arms-sales-to-mena\/\" target=\"_blank\">\n                    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                  LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+in+the+News%3A+Unhealthy+eating+habits%2C+Patrick+Zacki%E2%80%99s+release%2C+France%E2%80%99s+arms+sales+to+MENA+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F09%2Fegypt-in-the-news-unhealthy-eating-habits-patrick-zackis-release-frances-arms-sales-to-mena%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\/2021\/12\/09\/egypt-in-the-news-unhealthy-eating-habits-patrick-zackis-release-frances-arms-sales-to-mena\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-553611\" class=\"content-area-description single-story post-553611 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-archaeology tag-enterpriseam tag-france tag-human-rights tag-mogamma-el-tahrir tag-tourism-and-antiquities-ministry tag-world-health-organization wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Our unhealthy eating habits made it to the foreign press: <\/strong>Egypt joined a naughty list of countries with the highest disease burden from trans fats, according to a <a href=\"https:\/\/www.who.int\/news\/item\/07-12-2021-countries-with-regulations-protecting-people-from-industrially-produced-trans-fat-tripled-over-the-past-year\">WHO report<\/a>. Best-practice policies adopted by forty countries aim to meet a WHO target to eliminate the \u201cdeadly food compound\u201d by 2023. To be fair, we can\u2019t be fully blamed, seeing how <a href=\"https:\/\/enterprise.press\/hardhats\/makes-nutrient-rich-food-hard-access-egypt\/\">inaccessible nutrient-rich food<\/a> is. <a href=\"https:\/\/www.reuters.com\/markets\/commodities\/poor-nations-lag-removing-unhealthy-trans-fat-food-who-report-2021-12-07\/\">Reuters<\/a> had the story.<\/p>\n<p><strong>Human rights advocate Patrick Zaki\u2019s release from pretrial detention<\/strong> and his return to his hometown of Mansoura is still getting ink. (<a href=\"https:\/\/www.reuters.com\/world\/middle-east\/egyptian-rights-researcher-patrick-zaki-freed-pending-trial-2021-12-08\/\">Reuters<\/a>)<\/p>\n<p><strong>Also making headlines: <\/strong><\/p>\n<ul>\n<li><strong>Tahrir\u2019s Mogamma transformation from a symbol of cumbersome state <\/strong><strong>bureaucracy to a multipurpose complex<\/strong> is set to attract international tourism. (<a href=\"https:\/\/www.thenationalnews.com\/mena\/egypt\/2021\/12\/08\/egypt-plans-new-life-for-mogamaa-tahrirs-crumbling-bureaucratic-monolith\/\">The National<\/a>)<\/li>\n<li><strong>France comes under scrutiny for arms sales<\/strong>, in a piece that criticizes the French government for its willingness to sell weapons to countries including Saudi Arabia and Egypt. (<a href=\"https:\/\/mondediplo.com\/2021\/12\/07arms\">Le Monde Diplomatique<\/a>)<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/archaeology\/\">archaeology<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/france\/\">France<\/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\/mogamma-el-tahrir\/\">Mogamma El Tahrir<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism-and-antiquities-ministry\/\">Tourism and Antiquities Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-health-organization\/\">World Health Organization<\/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=\"553612\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"553613\" 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=\"553613\">\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\/2021\/12\/09\/cop27-preparations-begin-fawry-looking-to-launch-b2b-fmcg-marketplace-app\/\">\r\n                            COP27 preparations begin, Fawry looking to launch B2B FMCG marketplace app                        <\/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 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<\/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\/2021\/12\/09\/cop27-preparations-begin-fawry-looking-to-launch-b2b-fmcg-marketplace-app\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-553613\" class=\"content-area-description single-story post-553613 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-cop27 tag-enterpriseam tag-fawry tag-mining tag-moustafa-madbouly tag-sukari-gold-mine tag-yasmine-fouad wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408146\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>COP27 preparations begin:<\/strong> The government committee mandated with organizing COP27 convened for its first meeting yesterday, to discuss priorities and preparations for the climate summit scheduled to be held in Sharm El Sheikh next November, cabinet said in a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/290283373142090\">statement<\/a>.<\/p><p><strong>Fawry\u2019s fast<\/strong><strong>-moving consumer goods branch <\/strong><strong><a href=\"https:\/\/www.zawya.com\/mena\/en\/press-releases\/story\/Fawry_FMCG_participates_in_the_sixth_edition_of_Food_Africa-ZAWYA20211208101012\/\">will launch<\/a><\/strong><strong> its B2B FMCG <\/strong><strong>marketplace app Mandoobi<\/strong> in cooperation with BI Technologies at next week\u2019s Food Africa 2021 conference in Cairo.<\/p><p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p><ul>\n<li><strong>Egypt\u2019s Sukari gold mine saw its <\/strong><strong><a href=\"https:\/\/www.londonstockexchange.com\/news-article\/CEY\/sukari-reserve-growth-supports-roadmap-to-500koz\/15241011\">largest reserve increase<\/a><\/strong><strong> in a decade in <\/strong><strong>1H2021: <\/strong>The mine saw net mineral reserve growth of 1.1 mn ounces, or 23%, in the first half of 2021.<\/li>\n<li><strong>Our <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/368a3ba8-c46f-4f8e-832f-8aaf73b118f4\">Avenue of the Sphinxes<\/a><\/strong><strong> parade is now an annual event: <\/strong>After one very glamorous parade in Luxor late November to mark the reopening of the avenue, the <a href=\"https:\/\/www.facebook.com\/tourismandantiq\/posts\/271011175060436?__cft__%5B0%5D=AZW6HTIJp5379OlVn6KqIRdvlq7cznpLxsrkJTtIg7YO85AQJ90IQxpR7Ejb7szrCW8_YbS9JUnuRXZYvHYrOcKJvyzsWzKB5-jIX26yqcLCjaqhO-K_DKSnRQr_I6cGBlBdS6GZd4ih1HK3SicJwkOerckE9A-t_qTXCtCeVDBPMsdid3x9GJnc8Zu4OipgkA4&amp;__tn__=%2CO%2CP-R\">Tourism Ministry has decided<\/a> to host the parade on an annual basis.<\/li>\n<\/ul>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fawry\/\">Fawry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mining\/\">mining<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moustafa-madbouly\/\">Moustafa Madbouly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sukari-gold-mine\/\">Sukari gold mine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/yasmine-fouad\/\">Yasmine Fouad<\/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=\"553614\" 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=\"553614\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/uk-imposes-tighter-restrictions-to-curb-omicron-spread\/\">\r\n                            UK imposes tighter restrictions to curb Omicron spread                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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<\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-553614\" class=\"content-area-description single-story post-553614 post type-post status-publish format-standard hentry category-covid-watch tag-covid-19 tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/222995906678298\">reported<\/a><\/strong><strong> 909 new covid-19 infections yesterday<\/strong>, up from 882 the day before. Egypt has now disclosed a total of 365,831 confirmed cases of covid-19. The ministry also reported 56 new deaths, bringing the country\u2019s total death toll to 20,877.<\/p>\n<p><strong>Boris rolls out stricter covid restrictions as Omicron spreads:<\/strong> British Prime Minister Boris Johnson <a href=\"https:\/\/www.gov.uk\/government\/news\/prime-minister-confirms-move-to-plan-b-in-england\">decided yesterday<\/a> to begin implementing tighter covid-19 restrictions, known as \u201cPlan B,\u201d across the UK \u201cfollowing the rapid spread of the Omicron variant.\u201d As of tomorrow, face masks will be mandatory in most indoor spaces, while proof of vaccination through a vaccine passport could become mandatory to enter nightclubs and other venues for large gatherings. The prime minister also ordered a shift to working from home for all those who are able.<\/p>\n<p><strong>Johnson\u2019s directives come after <\/strong><strong>British scientific advisers signaled that Omicron cases<\/strong><strong> are doubling every three days<\/strong>, with one scientist saying that travel restrictions will soon be useless due to the increasing number of cases, <a href=\"https:\/\/www.thetimes.co.uk\/article\/omicron-cases-in-uk-double-every-three-days-997fjx7p9\">The Times wrote<\/a>. Experts believe that the new variant will soon dethrone its Delta counterpart and become the dominant covid strain in the country.<\/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\/covid-19\/\">covid-19<\/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=\"553615\" 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=\"553615\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/are-we-going-to-see-a-faster-than-expected-taper\/\">\r\n                            Are we going to see a faster-than-expected taper?                        <\/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\/2021\/12\/09\/are-we-going-to-see-a-faster-than-expected-taper\/\" 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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More than half of the 48 respondents said the Fed would likely stop its stimulus purchases entirely by the end of March, months ahead of the schedule <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/01ff5ec8-6224-4431-8796-fcb03e034f26\">announced by the central bank<\/a> in November.<\/p><p><strong>Half of the economists surveyed now also expect a rate rise in 2Q2022<\/strong> \u2014 an outcome just 20% of them believed likely three months ago. The predictions come as Fed head Jay Powell and other officials <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/41cc4a2d-6244-408f-943a-121fbb974afe\">turn hawkish<\/a> on sustained US inflation, as a stronger labor market leaves the bank more wiggle room to clamp down on rising prices.<\/p><p><strong>A steeper taper could spell turbulence for our bond market: <\/strong>The Omicron variant and the decision to keep Powell as Fed head for another term fueled risk-off sentiment at the end of November, leading to a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7bb76d7f-64f7-4f00-8dc0-48e83057e1e0\">wobble in emerging-market debt ETFs<\/a>. Egyptian assets saw net outflows of USD 19.3 mn, or 12%, in the last week of last month. That said, Egyptian assets held in ETFs are peanuts compared to the bns of USD invested directly in local-currency bonds \u2014 and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9960784b-94f2-435a-af19-a204ecac1df4\">one of the highest real interest rates in the world<\/a> should ensure we can still compete in a world of higher US rates.<\/p><p><strong>Speaking of our attractive interest rates: Keep an eye out for November\u2019s inflation figures due to be released tomorrow. <\/strong>Further rises in inflation could soon start to make the EGP less attractive, especially as the US and other countries begin to roll back covid stimulus and raise rates.<\/p><p><strong>The Saudi stock exchange surged on its trading debut, <\/strong>with shares in the bourse closing up 13% after rising as much as 22% following the exchange\u2019s USD 1 bn IPO, Bloomberg reports. The Tadawul\u2019s float marks the biggest exchange IPO since Euronext went public in 2014, as investors were persuaded to buy in based on bumper YTD gains amid the so-called Middle East IPO rush. The Saudi exchange has 50 IPO applications in the pipeline for 2022, the bourse\u2019s CEO told <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudi-bourse-has-50-ipo-applications-2022-considers-spac-listings-2021-12-08\/\">Reuters<\/a> on the day of its debut. The Tadawul is also considering <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/de3af8cf-a973-42a8-a043-03a0d8d18eb3\">following our lead<\/a> and introducing SPACs to the kingdom, Khalid al-Hussan told the newswire.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>11,451<\/p>\n<\/td>\n<td>\n<p>-0.8% (YTD: +5.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/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>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% 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>10,992<\/p>\n<\/td>\n<td>\n<p>-1.1% (YTD: +26.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>8,954<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: +77.5%)<\/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>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,197<\/p>\n<\/td>\n<td>\n<p>+0.1% (YTD: +28.3%)<\/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>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,701<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: +25.2%)<\/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>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,337<\/p>\n<\/td>\n<td>\n<p>- (YTD: +13.6%)<\/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>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 72.62<\/p>\n<\/td>\n<td>\n<p>+0.4%<\/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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 3.82<\/p>\n<\/td>\n<td>\n<p>+0.2%<\/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>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,784.80<\/p>\n<\/td>\n<td>\n<p>-<\/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 50,733.59<\/p>\n<\/td>\n<td>\n<p>+0.45%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 fell 0.8% yesterday <\/strong>on turnover of EGP 1.24 bn (12.1% below the 90-day average). Foreign investors were net sellers. The index is up 5.6% YTD.<\/p><p><strong>In the green: <\/strong>Ezz Steel (+6.2%), Cleopatra Hospital (+4.7%) and Rameda (+3.4%).<\/p><p><strong>In the red: <\/strong>Speed Medical (-20.0%), Heliopolis Housing (-7.0%) and Fawry (-6.4%).<\/p><p><strong>Major Asian benchmarks are largely <\/strong>(if, uhm, \u201cflatt-ish-ly\u201d \u2014 is that a word?) in the green this morning, with only the Nikkei flirting with the red. Futures suggest much of Europe and Wall Street will (weakly) open in positive territory later today.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/didi-chuxing\/\">Didi Chuxing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jerome-powell\/\">Jerome Powell<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us-federal-reserve\/\">US Federal Reserve<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/variable-interest-entities\/\">variable interest entities<\/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=\"553616\" 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=\"553616\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/biden-makes-concessions-to-moscow-to-prevent-ukraine-invasion\/\">\r\n                            Biden makes concessions to Moscow to prevent Ukraine invasion                        <\/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\/2021\/12\/09\/biden-makes-concessions-to-moscow-to-prevent-ukraine-invasion\/\" 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\/2021\/12\/09\/biden-makes-concessions-to-moscow-to-prevent-ukraine-invasion\/')\">\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\/2021\/12\/09\/biden-makes-concessions-to-moscow-to-prevent-ukraine-invasion\/\">\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=Biden makes concessions to Moscow to prevent Ukraine invasion&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/biden-makes-concessions-to-moscow-to-prevent-ukraine-invasion\/\">\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\/2021\/12\/09\/biden-makes-concessions-to-moscow-to-prevent-ukraine-invasion\/&title=Biden makes concessions to Moscow to prevent Ukraine invasion\">\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=Biden+makes+concessions+to+Moscow+to+prevent+Ukraine+invasion+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F09%2Fbiden-makes-concessions-to-moscow-to-prevent-ukraine-invasion%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\/2021\/12\/09\/biden-makes-concessions-to-moscow-to-prevent-ukraine-invasion\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-553616\" class=\"content-area-description single-story post-553616 post type-post status-publish format-standard hentry category-around-the-world tag-around-the-world tag-australia tag-china tag-enterpriseam tag-joe-biden tag-russia tag-sports tag-turkey tag-uae tag-ukraine tag-vladimir-putin wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>US President Joe Biden agreed to bring Russia\u2019s grievances with NATO to the <\/strong><strong>discussion table<\/strong> in a future meeting between Moscow and \u201cat least four\u201d major allies in the transatlantic agreement, in a \u201cdiplomatic concession\u201d meant to prevent Moscow from invading Ukraine, the <a href=\"https:\/\/www.ft.com\/content\/8b151011-2054-4aa7-8b4c-fee8835529e5\">Financial Times<\/a> reports. This comes a day after the US leader held a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/0467901b-bc85-4d65-ab78-15560b3a2711\">bilateral call<\/a> with Vladimir Putin, which ended with threats from Washington to cut off Russia\u2019s Nord Stream 2 pipeline should Russia invade Ukraine.<\/p>\n<p><strong>Also worth knowing this morning:<\/strong><\/p>\n<ul>\n<li><strong>An Emirati delegation is in Ankara to discuss defense collaboration<\/strong>, <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/uae-delegation-ankara-defence-talks-turkish-source-2021-12-07\/\">Reuters<\/a> reports, amid a thawing in tensions between the UAE and Turkey. Two weeks ago, Ankara and Abu Dhabi <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/becc9ce3-6354-4e43-abef-fc0770e6346e\">signed<\/a> bns of USD-worth of agreements in food, energy and healthcare among other sectors.<\/li>\n<li><strong><a href=\"https:\/\/www.cbc.ca\/news\/politics\/trudeau-diplomatic-boycott-winter-olympic-games-1.6277773\">Canada<\/a><\/strong><strong>, the <\/strong><strong><a href=\"https:\/\/www.nytimes.com\/2021\/12\/08\/world\/europe\/uk-china-olympics-diplomatic-boycott.html\">UK<\/a><\/strong><strong>, <\/strong><strong><a href=\"https:\/\/www.pm.gov.au\/media\/press-conference-penshurst-nsw\">Australia<\/a><\/strong><strong> and <\/strong><strong><a href=\"https:\/\/www.lrt.lt\/en\/news-in-english\/19\/1548873\/lithuania-s-olympic-committee-rules-out-boycotting-beijing-games\">Lithuania<\/a><\/strong><strong> are the latest to follow the <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/057e4a0e-2dc1-44b8-9561-47c3fde9ed07\">US\u2019 lead<\/a><\/strong><strong> in <\/strong><strong>its diplomatic boycott of Beijing\u2019s 2022 Winter Olympics,<\/strong> citing China\u2019s human rights abuses targeting ethnic Uighur people in Xinjiang.<\/li>\n<li><strong>Chinese authorities have expanded their crackdown on the tech sector with a <\/strong><strong>blacklist <\/strong>limiting international funding and overseas listings by Chinese companies. The crackdown will target future variable interest entities (VIEs) \u2014 a structure that allows companies to circumvent existing restrictions to raise bns from international investors, reports the <a href=\"https:\/\/www.ft.com\/content\/7689489c-cdad-4596-a7c6-0774ed68bf5a\">Financial Times<\/a>.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/around-the-world\/\">Around the World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/australia\/\">Australia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/joe-biden\/\">Joe Biden<\/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\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ukraine\/\">Ukraine<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vladimir-putin\/\">Vladimir Putin<\/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=\"553617\" 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=\"553617\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">15<\/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\/2021\/12\/09\/my-morning-routine-omar-shoukry-founder-and-ceo-of-nawah-scientific\/\">\r\n                            My Morning Routine: Omar Shoukry, founder and CEO of Nawah Scientific                        <\/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\/2021\/12\/09\/my-morning-routine-omar-shoukry-founder-and-ceo-of-nawah-scientific\/\" 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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Presented in association with healthy foods brand Abu Auf. Speaking with us this week is Omar Shoukry, CEO and founder of private research center Nawah Scientific (<a href=\"https:\/\/ch.linkedin.com\/in\/omar-shoukry-sakr-phd-mba\">LinkedIn<\/a>). Edited excerpts from our conversation:<\/p>\n<p><strong>My name is Omar Shoukry and I spent 15 years in academia before founding Nawah Scientific. <\/strong>I got my MA in pharma tech from the German University in Cairo and my PhD from the University of Geneva. I spent most of my early career in pharma research in Berlin and later in Geneva. After I did my PhD, I decided to switch from pure academia to entrepreneurship, so I got my MBA from Hult Business School in the UK. I founded Nawah six years ago with the idea of bringing the cloud lab model to Egypt.<\/p>\n<p><strong>You could say that Nawah combines e-commerce and scientific research in a blender. <\/strong>Nawah is a central lab \u2014 the same idea as a cloud kitchen, but for scientific testing \u2014 that gives individual researchers and corporates access to a large depository of services. We do scientific analysis of anything that isn\u2019t related to humans: Vitamins, food, nutritional facts, air, water, soil, etc. In six years, we have tested 100k+ samples from over 12 countries and today, we are the biggest private lab in Egypt. Our vision is to dominate the Middle East and Africa with the hub model and we have plans to launch our second hub in Nigeria next year.<\/p>\n<p><strong>As the founder and CEO of Nawah, I have the typical tasks of any CEO.<\/strong> I directly oversee the company culture and business environment, and business development and sales. I also oversee fundraising and general management.<\/p>\n<p><strong>We did a lot of crisis management during the pandemic. <\/strong>If we had been a diagnostics lab, we would have done great, but given our line of business, we had to find new products. We developed a skin-sensitive hand sanitizer that was successful and we developed a virology lab that now supports Egyptian vaccine manufacturing.<\/p>\n<p><strong>Egypt has more than 150k bright-minded scientists<\/strong>, which is a very big number for any country, but our output is minimal, partly because our lab facilities are inadequate, which cripples the potential of the scientific community.<\/p>\n<p><strong>One of the things we are proud of is that 50% of our team is women. <\/strong>This is not because we set out to hire women, but because they are very good at science and play a huge role at Nawah.<\/p>\n<p><strong>I\u2019m a very early bird. I start working at dawn and those two hours in the morning are my focus time. <\/strong>Then my kids wake up and I drive them to school and go to the office and stay there until late. I also play tennis three times a week.<\/p>\n<p><strong>I stay focused and organized by delegating tasks. <\/strong>I\u2019m very fortunate to have a very strong team, so I trust them with tasks and focus on my own work. And the other thing is those two hours that I take in the morning really help me stay focused.<\/p>\n<p><strong>The one thing I have to do every day is read for at least half an hour or 45 minutes. <\/strong>I like to read about personal skills, mainly leadership. Nawah grew from five to 85 people, so you have to grow your leadership skills quickly to keep up. I am also a scientist, so I like to stay updated on science. And I love to read history and biographies.<\/p>\n<p><strong>My favorite way to switch off completely is to go diving. <\/strong>I love to just go underwater and spend time with the fish. But tennis helps on a weekly basis.<\/p>\n<p><strong>Being the sole founder of a high-growth startup took its toll on me at some point because of the amount of stress that I was under all the time. <\/strong>We triple in size year-on-year and that can be very stressful. At one point, I had to be treated for workaholism. It also takes a toll on your family, and my wife and children were not happy with me. I still don\u2019t think I have a good work-life balance, but I really value the time that I spend with my children every day.<\/p>\n<p><strong>My advice to other startup founders is to have co-founders to share the load with.<\/strong> It\u2019s very easy to lose your family in the process of building a startup. You have to put vacations and family on your calendar, just like you block time for work.<\/p>\n<p><strong>The other thing that is easier said than done is to enjoy the journey.<\/strong> You have to accept that you will constantly be stressed, and stress can be good because it means that you have incoming potential.<\/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\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nawah-scientific\/\">Nawah Scientific<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/omar-shoukry-sakr\/\">Omar Shoukry Sakr<\/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=\"553619\" 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\/2021\/12\/09\/553619\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-553619\" class=\"content-area-description single-story post-553619 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>8-10 December (Wednesday-Friday): <a href=\"https:\/\/www.gfhsegypt.com\/\">Global Forum for Higher Education and Scientific Research (GFHS)<\/a>, Cairo, Egypt.<\/p>\n<p>8-9 December (Wednesday-Thursday): The 14th General Conference of the Islamic World Educational, Scientific, and Cultural Organization (<a href=\"https:\/\/www.icesco.org\/en\/2021\/11\/30\/under-the-patronage-of-president-el-sisi-icesco-to-hold-its-general-conference-in-cairo-on-december-8-and-9-2021\/\">ICESCO<\/a>) will be held in Egypt.<\/p>\n<p>9 December (Thursday): Second vaccine shot appointments will be made available to those who previously missed their appointments.<\/p>\n<p>9 December (Thursday): Deadline for tobacco companies to purchase the new conditions booklet for the Industrial Development Authority\u2019s tobacco manufacturing license.<\/p>\n<p>9-10 December (Thursday-Friday): The US <a href=\"https:\/\/www.state.gov\/summit-for-democracy\/\">Summit for Democracy<\/a>. Egypt is not among the invitees.<\/p>\n<p>9-12 December (Thursday-Sunday): The <a href=\"https:\/\/www.woodshowglobal.com\/cairo\">6th Edition of Cairo Woodshow<\/a>, Cairo International Convention Center, Cairo, Egypt.<\/p>\n<p>10 December (Friday): Capmas will release November inflation figures.<\/p>\n<p>10 December (Friday): Silicon Waha\u2019s <a href=\"https:\/\/bit.ly\/3FATsAa\">Startup Factory<\/a> program kicks off in Assiut Technology Zone.<\/p>\n<p>12 December (Sunday): Booster shot appointments for those eligible will roll in on the Health Ministry\u2019s website.<\/p>\n<p>12 December (Sunday): Raya Holding\u2019s Ordinary General Assembly meeting.<\/p>\n<p>12 December (Sunday): Deadline to apply to the <a href=\"https:\/\/www.mckinsey.com\/forward\/locations\/middle-east\">McKinsey Forward<\/a> program for young professionals.<\/p>\n<p>12-14 December (Sunday-Tuesday): <a href=\"http:\/\/www.foodafrica-expo.com\/\">Food Africa Cairo<\/a> trade exhibition, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>13-17 December (Monday-Friday): United Nations Convention against Corruption, Sharm El Sheikh, Egypt.<\/p>\n<p>14 December (Tuesday): Inquiry session for the <a href=\"https:\/\/alborsaanews.com\/2021\/11\/21\/1483299\">Industrial Development Authority<\/a>\u2019s licenses to manufacture steel products.<\/p>\n<p>14 December (Tuesday): CDC event to announce the details of its 2022-2026 strategy period.<\/p>\n<p>14-19 December (Tuesday-Sunday): <a href=\"https:\/\/www.facebook.com\/cifcet\/\">The Cairo International Festival for Experimental Theater<\/a>.<\/p>\n<p>14-15 December (Tuesday-Wednesday): The Federal Reserve meets to review interest rates.<\/p>\n<p>15 December (Wednesday): Deadline for joint stock companies and investment companies in Cairo to join e-invoicing platform.<\/p>\n<p>15 December (Wednesday): Target date for snackmaker Edita to wrap up due diligence on its acquisition of the Ole brand owner Egyptian Belgian Company.<\/p>\n<p>15 December (Wednesday): The European Bank for Reconstruction and Development will give its final approval for a USD 100 mn facility to state-owned Banque Misr to finance local SMEs working on green projects.<\/p>\n<p>16 December (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>16 December (Thursday): SODIC shares will be transferred to Aldar Properties \/ ADQ consortium by this date.<\/p>\n<p>16 December (Thursday): Inquiry session for the Industrial Development Authority\u2019s licenses to manufacture tobacco products.<\/p>\n<p>End of December: El Nasr Automotive plans to sign contracts with a new partner to locally assemble EVs.<\/p>\n<p>End of 4Q2021: EdVentures plans to have closed at least one more edtech investment round.<\/p>\n<p>End of 4Q2021: Fawry plans to have launched its MyFawry card.<\/p>\n<p>1H2022: The World Economic Forum annual meeting, location TBD.<\/p>\n<p>1H2022: e-Aswaaq\u2019s tourism platform will roll out its ticketing and online booking portal across Egypt.<\/p>\n<p>1H2022: e-Finance\u2019s digital healthcare service platform, eHealth, will launch its services.<\/p>\n<p>1Q2022: <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9cd1fc44-1593-4317-8658-0aa792215521\">Launch of the Egyptian Commodities Exchange<\/a>.<\/p>\n<p>1Q2022: Swvl acquisition of Viapool expected to close.<\/p>\n<p>Second Half of January: Egypt <a href=\"https:\/\/alborsaanews.com\/2021\/11\/23\/1483989\">will host<\/a> the Egyptian-Bahraini Joint Committee.<\/p>\n<p>The end of January: The Egyptian-Romanian business forum will take place with the aim of strengthening joint investment relations.<\/p>\n<p>January 2022: Tenth of Ramadan dry port tender to be launched.<\/p>\n<p>1 January 2022 (Saturday): Capital gains tax comes into effect on the EGX for local investors.<\/p>\n<p>1-15 January 2022 (Saturday-Saturday): Qualified Industrial Zones (<a href=\"https:\/\/www.trade.gov\/qualifying-industrial-zones\">QIZ<\/a>) Joint Committee.<\/p>\n<p>4 January 2022 (Tuesday): OPEC+ ministerial meeting.<\/p>\n<p>7 January 2022 (Friday): Coptic Christmas.<\/p>\n<p>10-13 January 2022 (Monday-Thursday): <a href=\"https:\/\/wyfegypt.com\/\">World Youth Forum<\/a>, Sharm El Sheikh.<\/p>\n<p>15 January (Saturday): Target date for the finalization of snackfood giant Edita\u2019s acquisition of the Egyptian Belgian Company, owner of the Ole brand.<\/p>\n<p>17-19 January 2022 (Monday-Wednesday): <a href=\"https:\/\/www.worldfutureenergysummit.com\/en-gb.html\">World Future Energy Summit<\/a>, Abu Dhabi.<\/p>\n<p>20 January 2022 (Thursday): Kadmar Shipping\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/01ff5c98-c2b7-42a3-9c0f-7e33f4c9e638\">new line<\/a> transporting agricultural crops between Alexandria and Russia begins its operations.<\/p>\n<p>27 January 2022 (Tuesday): National holiday in observance of 25 January revolution anniversary \/ Police Day.<\/p>\n<p>February 2022: Hassan Allam Construction\u2019s <a href=\"https:\/\/alborsaanews.com\/2021\/12\/07\/1488592\">new construction firm<\/a> established with Russia\u2019s Titan-2 to handle construction work on the Dabaa nuclear power plant begins its operations.<\/p>\n<p>11 February 2022 (Friday): <a href=\"https:\/\/finance.yahoo.com\/news\/vistas-media-acquisition-company-inc-203000610.html\">Deadline for Anghami SPAC merger<\/a>.<\/p>\n<p>11-13 February (Friday-Sunday) FIBA Intercontinental Cup, Cairo.<\/p>\n<p>14-16 February 2022 (Monday-Wednesday): Egypt Petroleum Show, Egypt International Exhibition Center, New Cairo, Egypt.<\/p>\n<p>15 February 2022 (Tuesday): The Industrial Development Authority\u2019s deadline for <a href=\"https:\/\/alborsaanews.com\/2021\/11\/21\/1483299\">receiving offers<\/a> from companies for licenses to manufacture steel products.<\/p>\n<p>19 February 2022 (Saturday): Public universities begin the second term of the 2021-2022 academic year.<\/p>\n<p>March 2022: 4Q2021 earnings season.<\/p>\n<p>March 2022: Deadline for the World Health Organization\u2019s <a href=\"https:\/\/www.who.int\/news\/item\/01-12-2021-world-health-assembly-agrees-to-launch-process-to-develop-historic-global-accord-on-pandemic-prevention-preparedness-and-response\">intergovernmental negotiating body<\/a> to meet to discuss binding treaty on future pandemic cooperation.<\/p>\n<p>March 2022: World Cup playoffs.<\/p>\n<p>2 April 2022 (Saturday): First day of Ramadan (TBC).<\/p>\n<p>3 April 2022 (Sunday): Bidding begins on the Industrial Development Authority\u2019s license to manufacture tobacco products.<\/p>\n<p>4 April 2022 (Monday): CDC Group will formally change its name to British International Investment.<\/p>\n<p>22-24 April 2022 (Friday-Sunday):<a href=\"http:\/\/sdg.iisd.org\/events\/2022-spring-meetings-of-the-world-bank-group-and-the-international-monetary-fund\/\">World Bank-IMF spring meeting<\/a>, Washington D.C.<\/p>\n<p>24 April 2022 (Sunday): Coptic Easter Sunday (holiday for Coptic Christians).<\/p>\n<p>25 April 2022 (Monday): Sham El Nessim.<\/p>\n<p>25 April 2022 (Monday): Sinai Liberation Day.<\/p>\n<p>Late April - 15 May 2022: 1Q2022 earnings season<\/p>\n<p>May 2022: Investment in Logistics Conference, Cairo, Egypt.<\/p>\n<p>2 May 2022 (Monday): Eid El Fitr (TBC).<\/p>\n<p>16 June 2022 (Thursday): End of 2021-2022 academic year for public schools.<\/p>\n<p>27 June-3 July 2022 (Monday-Sunday): World University Squash Championships, New Giza.<\/p>\n<p>30 June 2022 (Thursday): June 30 Revolution Day, national holiday.<\/p>\n<p>2H2022: <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>July 2022: A law governing ins. for seasonal contractors will come into effect.<\/p>\n<p>8 July 2022 (Friday): Arafat Day.<\/p>\n<p>9-13 July 2022 (Saturday-Wednesday): Eid Al Adha, national holiday.<\/p>\n<p>30 July 2022 (Saturday): Islamic New Year.<\/p>\n<p>Late July - 14 August 2022: 2Q2022 earnings season.<\/p>\n<p>September 2022: Egypt will display its first naval exhibition with the title <a href=\"https:\/\/bit.ly\/3lshDZX\">Naval Power<\/a>.<\/p>\n<p>6 October 2022 (Thursday): Armed Forces Day, national holiday.<\/p>\n<p>8 October 2022 (Saturday): Prophet Muhammad\u2019s birthday.<\/p>\n<p>18-20 October 2022 (Tuesday-Thursday): Mediterranean Offshore Conference, Alexandria, Egypt.<\/p>\n<p>Late October - 14 November 2022: 3Q2022 earnings season.<\/p>\n<p><strong>**Note to readers:<\/strong> Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish below between the actual holiday and its observance.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":553594,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-553593","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"046e2aaf-631e-4420-b38d-edf3a0e8b827","teaser":"","photo_url":"https:\/\/ent.news\/2021\/12\/130.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>CI Capital is going after a big stake in Cleopatra Hospitals - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/ci-capital-is-going-after-a-big-stake-in-cleopatra-hospitals\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CI Capital is going after a big stake in Cleopatra Hospitals\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/ci-capital-is-going-after-a-big-stake-in-cleopatra-hospitals\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T00:11:51+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/130.jpg?fit=%2C&ssl=1\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/ci-capital-is-going-after-a-big-stake-in-cleopatra-hospitals\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/ci-capital-is-going-after-a-big-stake-in-cleopatra-hospitals\/\",\"name\":\"CI Capital is going after a big stake in Cleopatra Hospitals - 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