{"id":554009,"date":"2021-12-16T04:04:16","date_gmt":"2021-12-16T04:04:16","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=554009"},"modified":"2025-12-16T00:21:09","modified_gmt":"2025-12-16T00:21:09","slug":"its-the-final-interest-rate-day-of-2021","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/its-the-final-interest-rate-day-of-2021\/","title":{"rendered":"It\u2019s the final interest rate day of 2021"},"content":{"rendered":"<section id=\"554011\" 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=\"554011\">\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\/16\/this-morning-cbe-gathers-for-its-final-policy-meeting-today-new-gafi-services-unit-for-egx-listed-companies-schools-out-in-alexandria-again\/\">\r\n                            THIS MORNING: CBE gathers for its final policy meeting today + new GAFI services unit for EGX-listed companies + school\u2019s out in Alexandria (again)                        <\/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 class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554011\" class=\"content-area-description single-story post-554011 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-central-bank-of-egypt tag-egx tag-enterpriseam tag-gafi tag-inflation tag-interest-rates tag-international-atomic-energy-agency tag-monetary-policy tag-sameh-shoukry tag-us 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><strong>Good morning, friends, and welcome to the final day of the workweek.<\/strong> We\u2019re looking forward to the weekend, even though our hopes of seeing Egypt in the Arab Cup final match on Saturday were dashed last night after the Pharaohs scored an own-goal in the last few seconds of their semi-final against Tunisia, who will now meet Algeria for the title.<\/p><p><strong>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p><p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>It\u2019s interest rate day \u2014 and the final one of 2021 at that:<\/strong> All 11 economists and analysts we surveyed in our Enterprise Rate Poll expect the Central Bank of Egypt\u2019s Monetary Policy Committee to leave interest rates unchanged when it meets later today for its final gathering of the year. The still-unfolding situation with the Omicron variant is giving policymakers everywhere pause and a lower-than-expected November inflation reading could give the MPC some breathing room.<\/p><p><strong>Also factoring into the CBE\u2019s decision is the US Federal Reserve\u2019s hawkish turn<\/strong>, which will see the Fed taper its bond-buying program twice as fast as originally expected in a bid to give itself breathing room to enact three rate hikes in 2022, the <a href=\"https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20211215a.htm\">Federal Open Market Committee said<\/a> yesterday following its two-day meeting.<\/p><p><strong>The Fed now has a total of eight interest rate increases penciled in over the next three<\/strong><strong> years<\/strong>, including three in 2023 and two in 2024, Fed Chair Jay Powell said at a presser following the meeting (<a href=\"https:\/\/www.youtube.com\/watch?v=QI5yMHXin2o\">watch, runtime: 1:01:44<\/a>). The tightening plans come after US inflation in November ran at its highest since the 1980s, while Powell pointed to a recovering labor market and a \u201cmuch stronger\u201d economy as indicators that the first rate increase would quickly follow the end of the Fed\u2019s asset purchase program.<\/p><p><strong>Mind the yield curve:<\/strong> The treasuries yield curve <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-12-15\/money-markets-boost-fed-hike-expectations-see-three-2022-moves?srnd=premium-middle-east&amp;sref=mmeFTDW1\">flattened<\/a> yesterday as yields on short-term treasuries rose, widening the spread with returns on the long-term government bonds. A flattening yield curve signals the Fed will be \u201cchallenged\u201d to get inflation in check, and could constrain the central bank\u2019s tightening cycle.<\/p><p><strong>The market reaction:<\/strong> The faster taper and sooner-than-expected rate hike announcement spurred a rally in US markets, with the S&amp;P 500 closing just shy of its all-time high and the Nasdaq 100 ending the trading day up 2.5%, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-12-14\/asia-stocks-set-for-mixed-open-in-countdown-to-fed-markets-wrap?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a>.<\/p><p><strong>The European Central Bank is also set to meet today<\/strong>, but is widely expected to stick to the transitory inflation line \u2014 which the Fed has notably left behind.<\/p><hr class=\"grey-line\"><p><strong>A new services unit for EGX-listed companies has been <\/strong><strong>set up<\/strong> by the General Authority for Investment and Freezones (GAFI) to expedite services, handle complaints, and help troubleshoot any issues facing listed firms, the authority said in <a href=\"https:\/\/www.facebook.com\/GAFIEG\/posts\/276319401189790\">a statement<\/a> yesterday.<\/p><p><strong>Shoukry + Saudi FM meet today: <\/strong>Foreign Minister Sameh Shoukry will meet his Saudi counterpart Prince Faisal bin Farhan al-Saud for discussions, followed by a joint presser, <a href=\"https:\/\/www.youm7.com\/story\/2021\/12\/15\/%D9%85%D8%A4%D8%AA%D9%85%D8%B1-%D8%B5%D8%AD%D9%81%D9%89-%D9%84%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D8%AE%D8%A7%D8%B1%D8%AC%D9%8A%D8%A9-%D9%88%D9%86%D8%B8%D9%8A%D8%B1%D9%87-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%89-%D9%81%D9%8A-%D9%85%D9%82%D8%B1-%D8%A7%D9%84%D9%88%D8%B2%D8%A7%D8%B1%D8%A9-%D8%BA%D8%AF%D8%A7\/5580976\">Youm7<\/a> reports, without disclosing what the topics of discussion are planned to be.<\/p><p><strong>Shoukry is also set to meet International Atomic Energy Agency Director Rafael Mariano <\/strong><strong>Grossi<\/strong> later today.<\/p><p><strong>PSA- School\u2019s out in Alexandria for the Nth time: <\/strong>All schools across Alexandria will be closed today in anticipation of unstable weather conditions reported by the Meteorological Authority, according to a governorate <a href=\"https:\/\/www.facebook.com\/Alex.Gov.Eg\/posts\/277045994448124\">statement<\/a>. This is the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3a740387-62e6-4e6a-b5ef-f07d6bef5c1a\">third closure<\/a> in recent weeks, with a bout of heavy rains and wind prompting Alex Governor Mohamed El Sherif to announce closures twice last week.<\/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>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>The <\/strong><strong><a href=\"https:\/\/www.unodc.org\/unodc\/en\/corruption\/COSP\/session9.html\">UN Convention Against Corruption<\/a><\/strong><strong> in Sharm El Sheikh is on its penultimate day<\/strong> today. The event wraps this coming Friday, 17 December<sup><\/sup>.<\/p><p>It\u2019s the final day of the Arab Conference on the <strong>Peaceful Uses of Atomic Energy<\/strong> in Aswan.<\/p><p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gafi\/\">GAFI<\/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\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/international-atomic-energy-agency\/\">International Atomic Energy Agency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/monetary-policy\/\">monetary policy<\/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\/us\/\">US<\/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=\"554012\" 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=\"554012\">\r\n            \r\n            <div 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class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"554013\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/snacks-arent-getting-the-vat-treatment\/\">\r\n                            Snacks aren\u2019t getting the VAT treatment                        <\/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\" 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class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/snacks-arent-getting-the-vat-treatment\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/362.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"554014\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/snacks-arent-getting-the-vat-treatment\/362-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/362.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"362.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/362.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/362.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554013\" class=\"content-area-description single-story post-554013 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-egyptian-tax-authority tag-enterpriseam tag-finance-ministry tag-house-of-representatives tag-legislation-watch tag-tax tag-vat-act wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Breaking down the VAT Act amendments:<\/strong> Earlier this week, the House of Representatives gave its final approval to amendments to the VAT Act that change up the tax treatment for a handful of services and products, as per a committee <a href=\"https:\/\/ent.news\/2021\/12\/VAT-Act-amendments-committee-report.pdf\">report (pdf)<\/a>. Other new stipulations in the newly-passed amendments:<\/p>\n<p><strong>The big news is in what won\u2019t be subject to the VAT in the final version of the bill, including crackers and sweet pastries.<\/strong> An earlier version of the amendments had proposed subjecting these goods to the 14% VAT, but this was scrapped in light of accelerating inflation, Finance Ministry spokesperson Ragab Mahrous confirmed to Enterprise. These goods will continue to be subject to the 5% schedule tax currently imposed on them. Lawmakers had one eye on inflation as they discussed the bill, with House Planning and Budgeting Committee deputy Yasser Omar previously <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b4941f29-3f43-4893-b6e3-37b619a65d9a\">telling us<\/a> that they were considering postponing the bill altogether because of inflation.<\/p>\n<p><strong>Other VAT exemptions:<\/strong> A handful of medical supplies \u2014 meds, active substances, vaccines, blood collection bags, birth control methods, and blood and its derivatives \u2014 are all exempt from the tax. The bill also exempts machinery and equipment imported from abroad, production inputs for the paper industry, as well as agricultural products such as seeds, vegetables and fruits produced locally. Civil aircrafts, along with their engines, parts, components and spare parts won\u2019t be subject to VAT, either. Shipping companies also won\u2019t be required to pay VAT on transit fees paid to the Suez Canal Authority.<\/p>\n<p><strong>Office and commercial spaces will be subject to a 1% schedule tax<\/strong> on the rent or purchase value, Mahrous said, confirming previous <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0809f68c-1e9c-4423-b43e-29da02a8451e\">announcements from the Tax Authority<\/a>.<\/p>\n<p><strong>Ads are subject to VAT \u2014 with some exceptions:<\/strong> Under the bill, the 14% value-added tax will be imposed on fully-finished \u201cbroadcast\u201d advertisements \u2014 advertisements on TV, radio, outdoor billboards and the interwebs \u2014 replacing the 20% stamp tax to which they <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4b40b507-281a-45c7-932f-5e7f7446a40b\">were previously subject<\/a>. However, the amendments exempt PSA-style ads from the tax, including ads for donations to or medical treatment at government hospitals and institutes; election and job seeking announcements; missing persons announcements; and all ads or announcements that are meant to inform the public about laws or regulations.<\/p>\n<p><strong>Tourists will be able to claim VAT rebates on their way out of the country <\/strong>for any purchases on select items worth more than EGP 1.5k or more (as opposed to the previous EGP 5k threshold for VAT drawbacks).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-tax-authority\/\">Egyptian Tax Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vat-act\/\">VAT Act<\/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=\"554015\" 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=\"554015\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/fitch-thinks-egypt-could-be-up-for-another-imf-program\/\">\r\n                            Fitch thinks Egypt could be up for another IMF program                        <\/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\/16\/fitch-thinks-egypt-could-be-up-for-another-imf-program\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The report points to less accommodative global liquidity and monetary conditions as being key risk factors for Egypt, despite us having \u201crebuilt its external financial buffers using non-resident inflows and other external funding.\u201d<\/p>\n<p><strong>This could be a non-loan program, which we were discussing with the IMF before the pandemic:<\/strong> Fitch does not specify what kind of IMF support Egypt might resort to, but a non-loan arrangement was <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/29\/egypt-and-imf-continue-talks-for-post-loan-agreement\/\">on the table<\/a> for Egypt in 2019 following the expiration of the three-year USD 12 bn Extended Fund Facility (EFF). The Finance Ministry had suggested it was eyeing a two-year cooperation agreement with the lender and was <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/27\/egypt-could-sign-new-imf-agreement-in-march-maait\/\">hoping to secure an agreement<\/a> by March 2020. There have been no updates on the talks since.<\/p>\n<p><strong>Why could a program be necessary now? <\/strong>Egypt\u2019s recent increased attractiveness to foreign investors has been buoyed by its \u201crecord reforms, IMF programmes, high real interest rates and a stable exchange rate.\u201d But with the end of the EFF and the rising pressure on interest rates as a result of inflation driving central banks and the US Federal Reserve to hike rates next year, the factors helping Egypt regain its footing have become less supportive, Fitch says.<\/p>\n<p><strong>Foreign investments had <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/82c61d2c-2803-468d-81bb-907f45a1d01c\">rebounded<\/a><\/strong><strong> since the start of covid-19, but they\u2019re still on shaky ground: <\/strong>After faltering at the start of the pandemic, foreign investments have been helping Egypt finance its current account deficit (CAD), which widened due to strong domestic demand and tourism revenues taking a nose dive at the height of the pandemic, although those are now <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f489ef1b-59fa-4096-a0e8-6fe8638608b6\">en route to recovery<\/a>. However, the Central Bank of Egypt\u2019s (CBE) foreign reserves are significantly lower than pre-pandemic levels, Fitch notes. Net foreign assets turned negative in October at USD -4.8 bn.<\/p>\n<p><strong>External shock risk is nothing new:<\/strong> After recently <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1be4be50-cf39-45d9-8bad-c3ff9bd220f5\">affirming<\/a> Egypt\u2019s long-term FX issuer default rating at \u2018B+\u2019 with a stable outlook, Fitch had warned that inflows \u201ccould reverse in response to any confidence shock or shift in global liquidity conditions, putting pressure on foreign exchange liquidity, interest rates and the exchange rate.\u201d Foreign holdings of government debt had reached nearly USD 34 bn by September, rising from less than USD 10 bn in the wake of the covid market crash.<\/p>\n<p><strong>The good news:<\/strong> Egypt has built strong relationships with bilateral and multilateral lenders and proved its mettle with reforms, which it continued to pursue even after the expiry of our last IMF program, Fitch says. Our imminent inclusion in the JPMorgan <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3ece4ff1-2bbe-47cc-8701-d56223ac30f4\">GBI-EM bond index<\/a> next month, as well as non-market financing, and improvements to market structure will provide \u201csome structural support to investor demand,\u201d the report reads. \u201cCADs should moderate with recovery in external demand and tourism,\u201d it adds. The government\u2019s <a href=\"https:\/\/enterprise.press\/stories\/2018\/09\/25\/praise-from-imf-world-bank-on-egypts-economic-reforms\/\">economic reform agenda<\/a> also received a nod and is expected to continue supporting Egypt\u2019s \u201cexternal resilience.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fitch\/\">Fitch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"554017\" 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=\"554017\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/mnhd-ga-completes-fair-value-study-of-minka\/\">\r\n                            MNHD GA completes fair value study of Minka                        <\/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\/16\/mnhd-ga-completes-fair-value-study-of-minka\/\" 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\/16\/mnhd-ga-completes-fair-value-study-of-minka\/')\">\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\/16\/mnhd-ga-completes-fair-value-study-of-minka\/\">\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=MNHD GA completes fair value study of Minka&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/mnhd-ga-completes-fair-value-study-of-minka\/\">\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\/16\/mnhd-ga-completes-fair-value-study-of-minka\/&title=MNHD GA completes fair value study of Minka\">\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=MNHD+GA+completes+fair+value+study+of+Minka+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F16%2Fmnhd-ga-completes-fair-value-study-of-minka%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\/16\/mnhd-ga-completes-fair-value-study-of-minka\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/365.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"554018\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/mnhd-ga-completes-fair-value-study-of-minka\/365-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/365.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"365.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/365.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/365.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554017\" class=\"content-area-description single-story post-554017 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-enterpriseam tag-ma-watch tag-madinet-masr-for-housing-and-development tag-real-estate tag-sodic wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-04\" class=\"content-anchor\"><\/a> <strong>MNHD approves EGP 232 mn valuation of Minka ahead of acquisition:<\/strong> Madinet Nasr Housing and Development\u2019s (MNHD) general assembly has approved a fair value study that will see it shell out a maximum EGP 232 mn to acquire <a href=\"https:\/\/minkaegypt.com\/index.php\">Minka Development<\/a> and a related special purpose vehicle company, EgyCan for Real Estate Development, according to an <a href=\"https:\/\/ent.news\/2021\/12\/Madinet-Nasr-EGX.pdf\">EGX filing (pdf)<\/a>. The study, conducted by Baker Tilly Wahid Abdel Ghaffar & Co, pegs the value of the real estate firm 5.5% above the top end of the EGP 200-220 mn that MNHD said it expected to pay when it <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/beb112af-a317-4887-a46e-3b3962bdf559\">first announced<\/a> the acquisition plan in October. MNHD will now seek to negotiate a final price for the company with the current shareholders, according to the statement.<\/p>\n<p><strong>It\u2019s all staying in the family:<\/strong> MNHD appointed Abdallah Sallam, who is also managing director at Minka, as its CEO at the same time as it announced the acquisition in October. Minka is owned by the Sallam family, who are set to use the proceeds from the sale of their company \u2014 plus an additional EGP 50 mn \u2014 to purchase a minimum 5% stake in MNHD, we were told back in October. This will make the family the third largest minority shareholder in the company after BPE Partners\u2019 managed fund\u2019s 29% and National Company for Construction and Developments\u2019 15%.<\/p>\n<p><em>CORRECTED ON 16 DECEMBER-<\/em><\/p>\n<p><em>The fair value study indicates that MNHD will pay a maximum of EGP 232 mn and not a minimum as was said in a previous version of the story.\u00a0<\/em><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/madinet-masr-for-housing-and-development\/\">Madinet Masr for Housing and Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sodic\/\">SODIC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"554019\" 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=\"554019\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/aim-technologies-closes-sequence-ventures-led-seed-round\/\">\r\n                            AIM Technologies closes Sequence Ventures-led seed round                        <\/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\/16\/aim-technologies-closes-sequence-ventures-led-seed-round\/\" 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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It eventually hopes to receive EGP 500 mn in commitments by its final close. A number of other investments in the pipeline will be announced early next year, they added.<\/p>\n<p><strong>\u201cOur mandate is to support young home-grown talent<\/strong> who are developing a solution to some of our own chronic issues as well as new challenges that are stalling our economic growth and our human capital,\u201d said Sequence head Karim Helal.<\/p>\n<p><strong>About AIM Technologies: <\/strong>Founded in 2018, the company is an AI customer experience platform that provides a \u201cmultilingual text analytics solution with the world\u2019s highest accuracy in Arabic language,\u201d along with the first automated end-to-end customer research tool.<\/p>\n<p><strong>IN OTHER STARTUP NEWS-<\/strong><\/p>\n<p><strong>VC firm <\/strong><strong><a href=\"https:\/\/www.innoventureseducation.com\/\">Innoventures<\/a><\/strong><strong> is looking to deploy EGP 30 mn into local startups during 2022<\/strong>, <a href=\"https:\/\/bit.ly\/3IRipJR\">Al Mal<\/a> reports, quoting partner Rafik Dalala. The investments will happen through the firm\u2019s <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/17\/innoventures-launches-egp-100-mn-tech-startup-investment-fund-8569\/\">first VC investment fund<\/a>, established in 2019 and will be distributed across 20 companies, with the average investment size ranging between EGP 1 mn - EGP 2 mn. <a href=\"https:\/\/innoventures.me\/\">Innoventures<\/a> is an Egypt-based VC firm that has invested in early stage startups across a range of industries.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/innoventures\/\">Innoventures<\/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\/sequence-ventures\/\">Sequence Ventures<\/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=\"554021\" 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=\"554021\">\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\">Kudos<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/kudos-celebrating-festivus-with-the-best-of-us\/\">\r\n                            Kudos: Celebrating Festivus with the best of us                        <\/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\/16\/kudos-celebrating-festivus-with-the-best-of-us\/\" 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\/16\/kudos-celebrating-festivus-with-the-best-of-us\/')\">\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\/16\/kudos-celebrating-festivus-with-the-best-of-us\/\">\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: Celebrating Festivus with the best of us&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/kudos-celebrating-festivus-with-the-best-of-us\/\">\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\/16\/kudos-celebrating-festivus-with-the-best-of-us\/&title=Kudos: Celebrating Festivus with the best of us\">\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+Celebrating+Festivus+with+the+best+of+us+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F16%2Fkudos-celebrating-festivus-with-the-best-of-us%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\/16\/kudos-celebrating-festivus-with-the-best-of-us\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554021\" class=\"content-area-description single-story post-554021 post type-post status-publish format-standard hentry category-kudos tag-awards tag-construction tag-enterpriseam tag-etisalat tag-forbes tag-inktank tag-kudos tag-madinet-masr-for-housing-and-development tag-matouk-bassiouny-hennawy tag-memaar-al-morshedy tag-orascom-construction tag-orascom-development-egypt tag-palm-hills-developments tag-private-equity tag-sodic tag-talaat-moustafa-group wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Celebrating Festivus with the best of us:<\/strong> With 2021 coming to a close and as we reflect on the goings of the past two years, we wouldn\u2019t have been able to get through the tough times without the hard work of our team members and staff. And so, in this special Xmas Kudos, we wanted to give a shout-out to everyone here at <strong>Enterprise <\/strong>and our parent company <strong>Inktank<\/strong>: All of you have met the challenges of our \u201ccovid era\u201d with good cheer, kindness and hard work.<\/p>\n<p>Special thanks to folks who have truly gone above and beyond and represent the best of us \u2014 all of whom took home special nods of appreciation from our Christmas \/ Year End party earlier this week:<\/p>\n<ul>\n<li><strong>Mohamed Attia<\/strong>, Inktank Finance Director (Founding Partners\u2019 Award)<\/li>\n<li><strong>Ahmed Karama<\/strong>, Inktank Business Analyst (Rookie of the Year, tie)<\/li>\n<li><strong>Samar Nabih<\/strong>, Inktank Account Manager (Rookie of the Year, tie)<\/li>\n<li><strong>Fahd Omran<\/strong>, Enterprise Staff Reporter (Rookie of the Year)<\/li>\n<li><strong>Amro Mokhtar<\/strong>, Inktank Art Director (Inktank Spirit Award)<\/li>\n<li><strong>Mariam Ismail<\/strong>, Enterprise Staff Reporter (Enterprise Spirit Award)<\/li>\n<li><strong>Ahmed Naguib<\/strong>, Head of Support Staff (Special Recognition Award)<\/li>\n<\/ul>\n<hr class=\"grey-line\">\n<p><strong>Etisalat Misr CEO Hazem Metwally was named last week African mobile telecom operator <\/strong><strong>CEO of the year at the 2021 <\/strong><strong><a href=\"https:\/\/telecomreview.com\/index.php\/articles\/reports-and-coverage\/5672-telecom-review-excellence-award-winners-for-2021\">Telecom Review<\/a><\/strong><strong> Excellence Awards <\/strong>for leading the company towards becoming one of the biggest operators regionally and gaining in excess of over a mn subscribers.<\/p>\n<p><strong>OC named best regional construction company: <\/strong>Orascom Construction was ranked #1 construction firm in the MENA region in the <a href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-construction-companies-in-mena\/\">Forbes Middle East list<\/a> of top construction companies for 2021. It\u2019s joined in the top 10 by Arab Contractors, which was ranked seventh.<\/p>\n<p><strong>Real estate regional recognition:<\/strong> Seven Egyptian companies made it to the <a href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-real-estate-developers-in-mena\/\">Forbes<\/a><a href=\"https:\/\/www.forbesmiddleeast.com\/lists\/top-real-estate-developers-in-mena\/\">list<\/a>of top 50 real estate developers in the MENA region in 2021. The list included: SODIC, Palm Hills Developments, Talaat Moustafa Holding Group, Memaar Al Morshedy, Madinet Nasr for Housing and Development, Orascom Development Holding, and Dorra Developers.<\/p>\n<p><strong>Weightlifter Neama Said snagged three medals \u2014 two gold and one silver \u2014 at the World <\/strong><strong>Weightlifting Championships<\/strong> happening in Taiwan now, <a href=\"https:\/\/english.ahram.org.eg\/NewsContent\/6\/56\/446295\/Sports\/Omni-sports\/Weightlifting-Said-clinches-three-medals-for-Egypt.aspx\">Ahram Online<\/a> reported. This was Egypt\u2019s first run at the championships in two years since the Egyptian Weightlifting Foundation was handed a <a href=\"https:\/\/english.ahram.org.eg\/OlympicsNews\/414124.aspx\">two-year suspension<\/a> for testing positive for performance enhancing substances.<\/p>\n<p><strong>Matouk Bassiouny and Hennawy received the \u201cSpecial Recognition for Regional <\/strong><strong>Advisor in North Africa\u201d award at the <\/strong><strong><a href=\"https:\/\/peafricaevents.com\/\">Private Equity Africa (PEA) awards<\/a><\/strong>, in recognition of the firm\u2019s work as lead counsel to several local and international firms, according to a <a href=\"https:\/\/ent.news\/2021\/12\/Matouk-Bassiouny-Hennawy-Press-Release-PEA-Awards-2021.pdf\">press release (pdf)<\/a>. The law firm advised on transactions worth USD 2 bn during 2020.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/awards\/\">awards<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/etisalat\/\">Etisalat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/forbes\/\">Forbes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inktank\/\">Inktank<\/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\/madinet-masr-for-housing-and-development\/\">Madinet Masr for Housing and Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/matouk-bassiouny-hennawy\/\">Matouk Bassiouny &amp; Hennawy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/memaar-al-morshedy\/\">Memaar Al Morshedy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-construction\/\">Orascom Construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-development-egypt\/\">Orascom Development Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palm-hills-developments\/\">Palm Hills Developments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/private-equity\/\">private equity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sodic\/\">SODIC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/talaat-moustafa-group\/\">Talaat Moustafa Group<\/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=\"554022\" 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=\"554022\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/554022\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554022\" class=\"content-area-description single-story post-554022 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.sodic.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/Tactical-Male-1600WX800H-for-web.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"554023\" 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=\"554023\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/last-nights-talk-shows-development-projects-in-south-sudan-artefact-assessment-wraps-up\/\">\r\n                            Last Night\u2019s Talk Shows: Development projects in South Sudan + artefact assessment wraps up                        <\/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\/16\/last-nights-talk-shows-development-projects-in-south-sudan-artefact-assessment-wraps-up\/\" 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\/16\/last-nights-talk-shows-development-projects-in-south-sudan-artefact-assessment-wraps-up\/')\">\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\/16\/last-nights-talk-shows-development-projects-in-south-sudan-artefact-assessment-wraps-up\/\">\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: Development projects in South Sudan + artefact assessment wraps up&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/last-nights-talk-shows-development-projects-in-south-sudan-artefact-assessment-wraps-up\/\">\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\/16\/last-nights-talk-shows-development-projects-in-south-sudan-artefact-assessment-wraps-up\/&title=Last Night\u2019s Talk Shows: Development projects in South Sudan + artefact assessment wraps up\">\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+Development+projects+in+South+Sudan+%2B+artefact+assessment+wraps+up+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F16%2Flast-nights-talk-shows-development-projects-in-south-sudan-artefact-assessment-wraps-up%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\/16\/last-nights-talk-shows-development-projects-in-south-sudan-artefact-assessment-wraps-up\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554023\" class=\"content-area-description single-story post-554023 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-enterpriseam tag-infrastructure-watch tag-last-nights-talk-shows tag-south-sudan wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It was a relatively quiet evening on the airwaves<\/strong>, with no big news story and no single topic driving the conversation.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Infrastructure diplomacy with South Sudan:<\/strong> Egypt is leading three planned infrastructure projects South Sudan, including the rehabilitation of an electricity station, clearing canals in Bahr El Ghazal, and a five-star hotel in the capital city of Juba, Al Hayah Al Youm\u2019s Mohamed Sherdy noted (<a href=\"https:\/\/www.youtube.com\/watch?v=lwmPpKz4fW4\">watch, runtime: 3:07<\/a>). Masaa DMC\u2019s Ramy Radwan had a chat with Egyptian Council for African Affairs Vice President Salah Heleima about these projects and prospects for further cooperation between the two countries (<a href=\"https:\/\/www.youtube.com\/watch?v=wsVVf3WnfcY\">watch, runtime: 7:35<\/a>).<\/p>\n<p>The Prosecutor General\u2019s office wrapped up its inspection of 5k artifacts and other historic and artistic items belonging to a Zamalek resident, and determined that nearly 1,400 of these pieces are artifacts and will be given to the Supreme Council of Antiquities, Sherdy reported (<a href=\"https:\/\/www.youtube.com\/watch?v=0EX0eGBxkF0\">watch, runtime: 2:41<\/a>). The committee found that the collection also includes hundreds of valuable art pieces, Yahduth fi Misr\u2019s Sherif Amer also noted (<a href=\"https:\/\/www.youtube.com\/watch?v=636gdWj41Jo\">watch, runtime: 2:14<\/a>).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure-watch\/\">infrastructure 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\/south-sudan\/\">South Sudan<\/a>\n                <!-- <span 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      <\/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-kt5jlhm\" data-v=\"4\" data-block-id=\"kt5jlhm\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-kt5jlhm-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-kt5jlhm-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button 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         class=\"\r\n                story-section            \"\r\n            id=\"554025\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/egypt-in-the-news-digital-transformation-helps-refugees-qatars-eastmed-presence-could-help-our-turkey-ties\/\">\r\n                            Egypt in the News: Digital transformation helps refugees + Qatar\u2019s EastMed presence could help our Turkey ties                        <\/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\" 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href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+in+the+News%3A+Digital+transformation+helps+refugees+%2B+Qatar%E2%80%99s+EastMed+presence+could+help+our+Turkey+ties+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F16%2Fegypt-in-the-news-digital-transformation-helps-refugees-qatars-eastmed-presence-could-help-our-turkey-ties%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\/16\/egypt-in-the-news-digital-transformation-helps-refugees-qatars-eastmed-presence-could-help-our-turkey-ties\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554025\" class=\"content-area-description single-story post-554025 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-cyprus tag-digitization tag-enterpriseam tag-qatar tag-turkey wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>A handful of headlines to skim on an otherwise calm morning <\/strong>for Egypt in the foreign press:<\/p>\n<ul>\n<li><strong>Egypt\u2019s digital transformation of its health and education sectors is <\/strong><strong>making essential services accessible<\/strong> to refugees and asylum seekers. (<a href=\"https:\/\/african.business\/2021\/12\/apo-newsfeed\/thanks-to-egypt-thousands-of-refugees-are-able-to-access-health-and-education-services\/\">African Business<\/a>) <\/li>\n<li><strong>Egypt rejected Turkey\u2019s push for a two-state peace treaty with ethnically split <\/strong><strong>Cyprus<\/strong>, saying that any talks between the countries should adhere to international law rather than come from \u201caggressive activities or expansionist tendencies.\u201d (<a href=\"https:\/\/www.washingtonpost.com\/politics\/egypt-backs-federal-peace-deal-for-ethnically-spit-cyprus\/2021\/12\/14\/ad5e3d1e-5cfd-11ec-b1ef-cb78be717f0e_story.html\">Washington Post<\/a>)<\/li>\n<li><strong>Qatar\u2019s increased <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/21557235-81fb-4649-afcd-e813ed5dd7d8\">presence<\/a><\/strong> <strong>in the EastMed could bring good tidings<\/strong>, as Doha could act as a mediator and facilitate broader political cooperation for Egypt and rapprochement with Turkey. (<a href=\"https:\/\/www.al-monitor.com\/originals\/2021\/12\/qatars-presence-eastern-mediterranean-benefits-egypt-turkey\">Al Monitor<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cyprus\/\">Cyprus<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/digitization\/\">digitization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qatar\/\">Qatar<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"554026\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"554027\" 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=\"554027\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/arco-inks-egp-720-mn-financial-leasing-agreement\/\">\r\n                            Arco inks EGP 720 mn financial leasing agreement                        <\/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\/16\/arco-inks-egp-720-mn-financial-leasing-agreement\/\" 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\/16\/arco-inks-egp-720-mn-financial-leasing-agreement\/')\">\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\/16\/arco-inks-egp-720-mn-financial-leasing-agreement\/\">\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=Arco inks EGP 720 mn financial leasing agreement&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/arco-inks-egp-720-mn-financial-leasing-agreement\/\">\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\/16\/arco-inks-egp-720-mn-financial-leasing-agreement\/&title=Arco inks EGP 720 mn financial leasing agreement\">\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=Arco+inks+EGP+720+mn+financial+leasing+agreement+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F16%2Farco-inks-egp-720-mn-financial-leasing-agreement%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\/16\/arco-inks-egp-720-mn-financial-leasing-agreement\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554027\" class=\"content-area-description single-story post-554027 post type-post status-publish format-standard hentry category-also-on-our-radar tag-abu-dhabi-islamic-bank tag-adq tag-also-on-our-radar tag-banking tag-banque-du-caire tag-carbon-capture tag-climate-change tag-cop27 tag-energy tag-enterpriseam tag-green-hydrogen tag-investment-watch tag-japan tag-leasing tag-logistics tag-manufacturing tag-mitsubishi tag-oil-ministry tag-real-estate tag-renewable-energy tag-tarek-el-molla wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Real estate development firm Arco is borrowing EGP 720 mn<\/strong> via a financial leasing agreement with a syndicate of Gulf and local lenders, lead arranger ADIFinance \u2014 Abu Dhabi Islamic Bank\u2019s leasing unit \u2014 said in <a href=\"https:\/\/ent.news\/2021\/12\/ADIFinance-AR-PRL.pdf\">a statement (pdf)<\/a>. The transaction also features participation from Arabia Investments Holdings\u2019 UE Finance and Banque du Caire\u2019s Cairo Financial Leasing.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>Mitsubishi interested in Egypt green hydro projects? <\/strong>Representatives of Mitsubishi discussed working with the Oil Ministry on clean energy projects such as green hydrogen and carbon capture <a href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/214186277563018\">during talks<\/a> with Minister Tarek El Molla yesterday, as the government looks to ramp up emission-reducing initiatives ahead of next year\u2019s COP27 summit in Sharm El Sheikh.<\/li>\n<li><strong>ADQ sets up shop in Egypt:<\/strong> Abu Dhabi sovereign wealth fund ADQ <a href=\"https:\/\/www.thenationalnews.com\/business\/economy\/2021\/12\/15\/adq-opens-cairo-office-to-boost-investment-in-egypt\/\">has opened<\/a> a Cairo office to build on a strategic investment platform launched earlier between the fund and the Sovereign Fund of Egypt.<\/li>\n<li><strong>A commercial and logistical zone is coming to Dakahlia\u2019s Talkha: <\/strong>Investors <a href=\"https:\/\/bit.ly\/3F07Dim\">will be able to purchase<\/a> units in the EGP 2 bn, 46-feddan zone in 1Q2022. The zone will be the first of three being launched in Dakahlia next year as the governorate works to create specialized economic and commercial zones.<\/li>\n<li><strong>13k clay fragments<\/strong> engraved with demotic, hieratic, Coptic, Greek and Arabic text were <strong><a href=\"https:\/\/bit.ly\/3e0kR2s\">unearthed<\/a><\/strong><strong> in Sohag<\/strong> by a German-Egyptian archeological mission.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abu-dhabi-islamic-bank\/\">Abu Dhabi Islamic Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-du-caire\/\">Banque du Caire<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/carbon-capture\/\">carbon capture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate-change\/\">climate change<\/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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-hydrogen\/\">green hydrogen<\/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\/japan\/\">Japan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/leasing\/\">leasing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/logistics\/\">logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mitsubishi\/\">Mitsubishi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-ministry\/\">Oil Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewable-energy\/\">renewable energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tarek-el-molla\/\">Tarek El Molla<\/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=\"554028\" 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=\"554028\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/gavi-looks-set-to-rely-more-on-pfizer-biontech-jabs-in-2022\/\">\r\n                            Gavi looks set to rely more on Pfizer \/ BioNTech jabs in 2022                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/gavi-looks-set-to-rely-more-on-pfizer-biontech-jabs-in-2022\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/gavi-looks-set-to-rely-more-on-pfizer-biontech-jabs-in-2022\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/gavi-looks-set-to-rely-more-on-pfizer-biontech-jabs-in-2022\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Gavi looks set to rely more on Pfizer \/ BioNTech jabs in 2022&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/gavi-looks-set-to-rely-more-on-pfizer-biontech-jabs-in-2022\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/gavi-looks-set-to-rely-more-on-pfizer-biontech-jabs-in-2022\/&title=Gavi looks set to rely more on Pfizer \/ BioNTech jabs in 2022\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Gavi+looks+set+to+rely+more+on+Pfizer+%2F+BioNTech+jabs+in+2022+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F16%2Fgavi-looks-set-to-rely-more-on-pfizer-biontech-jabs-in-2022%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/gavi-looks-set-to-rely-more-on-pfizer-biontech-jabs-in-2022\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554028\" class=\"content-area-description single-story post-554028 post type-post status-publish format-standard hentry category-covid-watch tag-astrazeneca tag-covid-19 tag-enterpriseam tag-glaxosmithkline tag-morocco tag-pfizer tag-sanofi tag-vaccines 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\/227860162858539\">reported<\/a><\/strong><strong> 879 new covid-19 infections yesterday<\/strong>, up from 822 the day before. Egypt has now disclosed a total of 371,698 confirmed cases of covid-19. The ministry also reported 48 new deaths, bringing the country\u2019s total death toll to 21,203.<\/p>\n<p><strong>Morocco has its first Omicron case: <\/strong>The Moroccan Health Ministry <a href=\"https:\/\/www.facebook.com\/ministere.sante.ma\/posts\/272788424886971\">announced<\/a> yesterday that it recorded its first Omicron case \u2014 a Moroccan citizen in the city of Casablanca, who is currently receiving treatment in hospital. Two days prior to the case being confirmed, the country had <a href=\"https:\/\/www.independent.co.uk\/travel\/news-and-advice\/morocco-flight-ban-extends-travel-b1974828.html\">extended<\/a> its travel ban on all inbound international flights until 31 December.<\/p>\n<p><strong>Pfizer \/ BioNTech are set to dethrone AstraZeneca as the main global supplier of <\/strong><strong>covid vaccines<\/strong> through the Gavi \/ Covax program by the beginning of next year, according to <a href=\"https:\/\/www.reuters.com\/business\/healthcare-pharmaceuticals\/pfizer-set-oust-astrazeneca-top-supplier-covid-19-shots-poor-nations-2021-12-15\/\">Reuters<\/a>. Covax has so far delivered over 600 mn jabs to around 150 countries, 220 mn of which were AstraZeneca and 160 mn were Pfizer. But jabs manufactured by the US firm will soon take the lead as the program starts to rely more heavily on vaccine donations from rich nations, which are mostly giving away Pfizer shots. Some 150 mn Pfizer jabs will be donated to Covax by the end of 1Q2022, according to documents from the World Health Organization seen by the newswire.<\/p>\n<p><strong>Sanofi <\/strong><strong><a href=\"https:\/\/www.sanofi.com\/en\/media-room\/press-releases\/2021\/2021-12-15-07-30-00-2352255\">is pushing<\/a><\/strong><strong> its covid-19 vaccine release to 1Q2022 instead of <\/strong><strong>this year<\/strong>, as the vaccine maker, which has partnered with GlaxoSmithKline on its covid vaccine, waits on the results of its late-stage clinical trials. The French pharma giant was one of the world\u2019s largest vaccine makers before covid but its development of covid-19 jabs has lagged far behind its competitors, and it now hopes it can capitalize on the growing market for booster shots.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/astrazeneca\/\">AstraZeneca<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/glaxosmithkline\/\">GlaxoSmithKline<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/morocco\/\">Morocco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pfizer\/\">Pfizer<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sanofi\/\">Sanofi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/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=\"554029\" 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=\"554029\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/global-ventures-closing-in-on-usd-100-mn-close-for-its-new-fund\/\">\r\n                            Global Ventures closing in on USD 100 mn close for its new fund                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/global-ventures-closing-in-on-usd-100-mn-close-for-its-new-fund\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The firm\u2019s second VC fund, which has already made 18 investments and could back up to 30 companies, is focused on pre-series A and series A rounds for budding firms across the MENA region, in sectors including digital health, fintech, agritech, and edutech. <strong>Global Ventures is a key player in our local VC scene<\/strong>, having made investments totaling USD tens of mns in Egyptian startups including Sympl, Paymob, Yodawy, Thndr, Minly, and Elmenus. The firm plans to invest USD 20-30 mn in Egypt in 2022, general partner Basil Moftah <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/85b20c93-1d4f-4640-9cf4-b21a155f6533\">told us over coffee<\/a> in October.<\/p><p><strong>Keywords for biotech investors: mergers, short-selling, covid stocks. <\/strong>Amid a dismal year for biotech stocks and hedge funds in the sector, three strategies have seen some investors continue to thrive, the <a href=\"https:\/\/www.wsj.com\/articles\/in-a-bad-year-for-biotech-stocks-deals-and-vaccines-were-winners-11639564381?mod=hp_lead_pos6\">Wall Street Journal<\/a> reports. Analysts and investors expect covid-related companies to continue to outperform the wider sector next year, on the back of a rush for booster jabs driven by Omicron. Small but innovative biotech firms are also a strong call, as big, liquidity-rich pharma companies look to make acquisitions. And there are gains to be made from others\u2019 misfortune: A savvy short-seller can capitalize on the volatile nature of biotech, where one set of disappointing trial results can send a stock into freefall.<\/p><p><strong>The use of libor replacement rates is surging as the benchmark\u2019s switch-off day <\/strong><strong>approaches<\/strong>, with 4Q2021 seeing the majority of volumes of privately negotiated swap transactions using the new so-called \u201criskfree\u201d rates authorities proposed instead of the discredited benchmark, <a href=\"https:\/\/www.ft.com\/content\/6a286e75-0179-4816-9926-414a8d0f2026\">the Financial Times<\/a> reports. Libor is the benchmark interest rate for interbank borrowing, and determines borrowing rates for public and private loans, bonds, credit cards and derivatives around the world. Banks will be barred from underwriting new loans using Libor starting 2022, as per a decision following the 2012 Libor scandal that saw some of the world\u2019s largest banks <a href=\"https:\/\/www.cfr.org\/backgrounder\/understanding-libor-scandal\">colluding to rig the rate<\/a>.<\/p><p><strong>European gas prices reached a record high, jumping by over a quarter the past week to <\/strong><strong>hit EUR 127.8 \/ MWh<\/strong> on the back of winter\u2019s arrival and threats of a Russian invasion of Ukraine, <a href=\"https:\/\/www.wsj.com\/articles\/energy-crisis-in-europe-intensifies-with-russian-troops-on-ukraine-border-11639581725?mod=hp_featst_pos4\">the Wall Street Journal<\/a> reports.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-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>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>11,622<\/p>\n<\/td>\n<td>\n<p>0.0% (YTD: +7.2%)<\/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>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-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>11,143<\/p>\n<\/td>\n<td>\n<p>+1.1% (YTD: +28.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>8,819<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: +74.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,255<\/p>\n<\/td>\n<td>\n<p>-0.7% (YTD: +30.6%)<\/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>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,710<\/p>\n<\/td>\n<td>\n<p>+1.6% (YTD: +25.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,171<\/p>\n<\/td>\n<td>\n<p>-0.7% (YTD: +11.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 71.67<\/p>\n<\/td>\n<td>\n<p>+1.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 3.82<\/p>\n<\/td>\n<td>\n<p>+0.6%<\/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>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,779.40<\/p>\n<\/td>\n<td>\n<p>+0.8%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 48,998.72<\/p>\n<\/td>\n<td>\n<p>+1.0%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 rose less than 0.1% at yesterday\u2019s close<\/strong> on turnover of EGP 1.19 bn (14.2% below the 90-day average). Local investors were net buyers. The index is up 7.2% YTD.<\/p><p><strong>In the green: <\/strong>Credit Agricole Egypt (+4.1%), Madinet Nasr Housing (+3.9%) and Ibnsina Pharma (+3.0%).<\/p><p><strong>In the red: <\/strong>Speed Medical (-4.3%), Heliopolis Housing (-2.5%) and CIRA (-2.2%).<\/p><p><strong>Asian markets are mixed so far this morning<\/strong>, with the Nikkei, Shanghai, and Kospi all in the green and the ASX and Hang Seng just slightly in the red. Futures suggest Wall Street will follow with mixed open as well, as the Dow Jones looks set to start the trading day in the red.<\/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\/financial-markets\/\">Financial Markets<\/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\/global-ventures\/\">Global Ventures<\/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\/planet-finance\/\">Planet Finance<\/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\/vc-funding\/\">VC funding<\/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=\"554030\" 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=\"554030\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/el-sisi-talks-water-desalination-with-scatec-boss\/\">\r\n                            El Sisi talks water desalination with Scatec boss                        <\/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\/16\/el-sisi-talks-water-desalination-with-scatec-boss\/\" 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\/16\/el-sisi-talks-water-desalination-with-scatec-boss\/')\">\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\/16\/el-sisi-talks-water-desalination-with-scatec-boss\/\">\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=El Sisi talks water desalination with Scatec boss&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/el-sisi-talks-water-desalination-with-scatec-boss\/\">\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\/16\/el-sisi-talks-water-desalination-with-scatec-boss\/&title=El Sisi talks water desalination with Scatec boss\">\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=El+Sisi+talks+water+desalination+with+Scatec+boss+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F16%2Fel-sisi-talks-water-desalination-with-scatec-boss%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\/16\/el-sisi-talks-water-desalination-with-scatec-boss\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554030\" class=\"content-area-description single-story post-554030 post type-post status-publish format-standard hentry category-diplomacy tag-abdel-fattah-el-sisi tag-diplomacy tag-energy tag-enterpriseam tag-scatec wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Egypt could look to localize water desalination technology with the help of Norwegian <\/strong><strong>renewables player Scatec<\/strong>, President Abdel Fattah El Sisi said during a meeting yesterday with Scatec CEO Raymond Carlsen, according to an <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/465344374954296\">Ittihadiya statement<\/a>. El Sisi and Carlsen also talked about Egypt\u2019s growing renewable energy sector.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/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\/scatec\/\">Scatec<\/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=\"554031\" 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=\"554031\">\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\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/uae-could-rescind-arms-purchase-from-the-us-over-anti-china-terms\/\">\r\n                            UAE could rescind arms purchase from the US over anti-China terms                        <\/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\/16\/uae-could-rescind-arms-purchase-from-the-us-over-anti-china-terms\/\" 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\/16\/uae-could-rescind-arms-purchase-from-the-us-over-anti-china-terms\/')\">\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\/16\/uae-could-rescind-arms-purchase-from-the-us-over-anti-china-terms\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=UAE could rescind arms purchase from the US over anti-China terms&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/uae-could-rescind-arms-purchase-from-the-us-over-anti-china-terms\/\">\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\/16\/uae-could-rescind-arms-purchase-from-the-us-over-anti-china-terms\/&title=UAE could rescind arms purchase from the US over anti-China terms\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=UAE+could+rescind+arms+purchase+from+the+US+over+anti-China+terms+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F16%2Fuae-could-rescind-arms-purchase-from-the-us-over-anti-china-terms%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\/16\/uae-could-rescind-arms-purchase-from-the-us-over-anti-china-terms\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554031\" class=\"content-area-description single-story post-554031 post type-post status-publish format-standard hentry category-around-the-world tag-around-the-world tag-china tag-energy tag-enterpriseam tag-europe tag-regional-diplomacy tag-russia tag-turkey tag-uae tag-ukraine wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The UAE is threatening to withdraw from a USD 23 bn arms agreement with the US<\/strong>, the <a href=\"https:\/\/www.wsj.com\/articles\/united-arab-emirates-threatens-to-pull-out-of-23-billion-f-35-drone-deal-with-u-s-11639491997?mod=hp_lead_pos7\">Wall Street Journal<\/a> reports. In a letter written to the US government ahead of negotiations between the two countries, the UAE said it would suspend discussions on the transaction, citing concerns that US requirements meant to protect the weaponry from being used for Chinese espionage were too onerous and ran counter to the Emirate\u2019s national sovereignty. The high-tech arms transaction, which includes F-35 aircraft and Reaper drones, was signed under former president Donald Trump. China has become something of a problem area in UAE-US relations this year, according to the <a href=\"https:\/\/www.wsj.com\/articles\/us-china-uae-military-11637274224?mod=article_inline\">WSJ<\/a>, after Beijing was caught constructing what US intelligence believed to be a military facility at a port near Abu Dhabi.<\/p>\n<p><strong>And speaking of China: Russia and China are presenting a united front<\/strong> in the face of rising tensions with the West, with the two countries\u2019 leaders agreeing to boost efforts to defend their nations\u2019 security interests, <a href=\"https:\/\/www.wsj.com\/articles\/putin-xi-affirm-russian-chinese-cooperation-to-counter-western-pressure-11639596457\">the Wall Street Journal<\/a> reports.<\/p>\n<p><strong>Meanwhile, the UAE and Turkey let bygones be bygones:<\/strong> Turkey and the UAE want to deepen economic and commercial cooperation, Turkey\u2019s foreign minister and the UAE's prime minister said after wrapping up talks in Dubai yesterday, <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/turkey-uae-say-they-want-deeper-cooperation-trade-after-dubai-talks-2021-12-15\/\">Reuters<\/a> reports. The decade-long rivals have been stepping up diplomatic efforts recently, apparently as the result of Turkey\u2019s charm offensive in the region (which hasn\u2019t yet been quite so fruitful when it comes to <a href=\"https:\/\/enterprise.press\/stories\/2021\/09\/16\/turkey-could-hand-over-egyptian-fugitives-un-security-council-speaks-on-gerd-53686\/\">patching things up with us<\/a>.) The UAE signed agreements for USD bns of investments in Turkey <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/becc9ce3-6354-4e43-abef-fc0770e6346e\">last month<\/a>, helping to stabilize the TRY following its historic crash.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/around-the-world\/\">Around the World<\/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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/europe\/\">Europe<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/regional-diplomacy\/\">regional diplomacy<\/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\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"554032\" 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=\"554032\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/my-morning-routine-assem-memon-managing-director-of-admazad\/\">\r\n                            My Morning Routine: Assem Memon, managing director of AdMazad                        <\/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\/16\/my-morning-routine-assem-memon-managing-director-of-admazad\/\" 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\/16\/my-morning-routine-assem-memon-managing-director-of-admazad\/')\">\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\/16\/my-morning-routine-assem-memon-managing-director-of-admazad\/\">\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=My Morning Routine: Assem Memon, managing director of AdMazad&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/my-morning-routine-assem-memon-managing-director-of-admazad\/\">\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\/16\/my-morning-routine-assem-memon-managing-director-of-admazad\/&title=My Morning Routine: Assem Memon, managing director of AdMazad\">\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=My+Morning+Routine%3A+Assem+Memon%2C+managing+director+of+AdMazad+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F16%2Fmy-morning-routine-assem-memon-managing-director-of-admazad%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\/16\/my-morning-routine-assem-memon-managing-director-of-admazad\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/370.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"554033\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/my-morning-routine-assem-memon-managing-director-of-admazad\/370-jpg-22\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/370.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"370.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/370.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/370.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554032\" class=\"content-area-description single-story post-554032 post type-post status-publish format-standard has-post-thumbnail hentry category-my-morning-routine tag-admazad tag-assem-memon tag-enterpriseam tag-my-morning-routine wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-08\" class=\"content-anchor\"><\/a> <strong>Assem Memon, co-founder and managing director of AdMazad:<\/strong> Each week, My Morning Routine looks at how a successful member of the community starts their day \u2014 and then throws in a couple of random business questions just for fun. Speaking to us this week is Assem Memon (<a href=\"https:\/\/www.linkedin.com\/in\/assem\/\">LinkedIn<\/a>). Edited excerpts from our conversation:<\/p>\n<p><strong>My name is Assem Memon and I currently lead <\/strong><strong><a href=\"https:\/\/admazad.com\/\">AdMazad<\/a><\/strong><strong> as managing director.<\/strong> I\u2019m a firm believer in the art of building organizations that have purpose and impact and that has been my driver during my 16-year career so far. I graduated from McMaster University in Canada with a degree in economics and worked with student activity for a year before moving back to Egypt for a bit. While in Egypt, I dipped my toes in my first entrepreneurial effort with a company that was aiming to build a product similar to Google Maps \u2014 it failed, but it was fun. I then decided to take on corporate life and I went back to Canada where I spent five years in IBM. From there it was The Netherlands, where I did my MBA at Erasmus University.<\/p>\n<p><strong>I moved back to Egypt in 2011 because I wanted to be part of the change I was seeing<\/strong> and joined a political party as deputy managing director. I was tasked with institutional capacity-building which is basically designing and building sustainable organizations from the bottom up. It was a rewarding experience that allowed me to experience Egypt from a different perspective, beyond the Cairo bubble.<\/p>\n<p><strong>I started AdMazad seven years ago alongside friends.<\/strong> AdMazad is basically an out-of-home media aggregator platform that aims to simplify how brands consume this medium. We saw that there was a mismatch in the supply and demand of billboards that was fueled by the economic environment and appetite for investments so we thought, \u201chow do we package this excess inventory in a way that makes it attractive?\u201d We built profiles for over 4k billboards in Cairo and Sahel where we assess how many cars pass by it, for how many seconds, the angle of viewership, and other useful metrics.<\/p>\n<p><strong>We aim to make sense out of the unquantifiable world of billboard marketing and help brands on their planning side.<\/strong> Over the years, we also developed an admetric business which offers pre and post-campaign analysis by providing brands with competitive dashboards, performance analysis, and more that allow them to assess how to launch the campaign as well as how successful it was after completion compared to peers. Everything is data-driven nowadays and using this data, we\u2019re able to marry the information we have with people\u2019s spending habits so that brands have more insight into how to allocate their budgets.<\/p>\n<p><strong>The pandemic was very challenging for our business. <\/strong>We track utilization of ad space across Cairo and pre-covid it was usually around 80-85% but during peak lockdown it went all the way down to 45%. We spent that time building the analytic side of our business and thinking of future ventures to take on.<\/p>\n<p><strong>We\u2019ll soon be launching a financing solution for SMEs to be able to afford billboard advertising. <\/strong>If you\u2019re a smaller business with low liquidity, you might see billboards as a long-term commitment that requires a bulk sum of financing up front. But we\u2019re looking to offer a product that would allow SMEs to pay off billboard costs in installments and we\u2019re hoping to deliver on it in 2022.<\/p>\n<p><strong>Out-of-home media and social media go hand-in-hand. <\/strong>There are studies that suggest that consumers are 90% more likely to engage with a digital campaign if they saw it outside of their home. Both serve different purposes, but they\u2019re complimentary. Billboards raise brand awareness while social media helps close the sale.<\/p>\n<p><strong>As for me, I\u2019m an early riser, especially since I have two young children<\/strong>. Karim joined us six months ago while Rasheed turns three in January. I get up at 6am and put Karim in his stroller to take him with me on my morning jog. We then have a family breakfast and try to get everyone out the door by 8:30am. Most mornings are very rushed [laughs].<\/p>\n<p><strong>I\u2019m a news junkie and I get my local news fix from Enterprise.<\/strong> I also listen to news podcasts in the car, especially those from the Financial Times and BBC.<\/p>\n<p><strong>A normal day at work includes a lot of firefighting [laughs]. <\/strong>I start by checking in with the team and seeing if I need to talk with any clients about ongoing operations. It\u2019s a struggle sometimes to allocate time equally between working on the day-to-day versus strategic long-term planning. I try to spend a day every week looking at the bigger picture and planning future projects.<\/p>\n<p><strong>Work-life balance depends on the stage you\u2019re in.<\/strong> At every stage in your life there will be conflicting priorities all vying for your attention. It\u2019s like that wheel of life where there\u2019s family, health, wealth, career, etc. It\u2019s important to know what needs more time at every stage. In my case, I made a conscious decision when my kids were born that I wanted to be involved in their day to day. The pandemic helped in that sense as it gave me more time to be at home with them. I know that giving more time to my family has come at the expense of other things, but at this stage I think that is what is necessary. But it\u2019s ever changing and with new phases of my life, I could allocate time differently\u2026 which is also okay.<\/p>\n<p><strong>I\u2019m currently reading a trilogy called <\/strong><strong><a href=\"https:\/\/www.amazon.com\/Three-Body-Problem-Cixin-Liu\/dp\/0765382032\">The Three-Body Problem<\/a><\/strong><strong> by Liu Cixin.<\/strong> It\u2019s an originally-Chinese series that is part philosophical, part drama, and part sci-fi. It looks at how humanity is dealing with the threat of an alien invasion that will take 100 years from now.<\/p>\n<p><strong>Meanwhile, I\u2019m rewatching <\/strong><strong><a href=\"https:\/\/www.imdb.com\/title\/tt0098904\/\">Seinfeld<\/a><\/strong><strong> for the sixth time [laughs]. <\/strong>I\u2019m also planning on rewatching <a href=\"https:\/\/www.imdb.com\/title\/tt0200276\/\">The West Wing<\/a>. At this point, these shows act as background noise to whatever I\u2019m doing.<\/p>\n<p><strong>The best piece of advice I\u2019ve been given is that a take it or leave it attitude doesn\u2019t get you far. <\/strong>You might not get everything you want, but there\u2019s often a compromise that will make things work. I try to apply this on both a professional and personal level and it helps me feel grounded and pragmatic.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/admazad\/\">Admazad<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/assem-memon\/\">Assem Memon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"554034\" 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=\"554034\">\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\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/the-nile-delta-is-rapidly-shrinking\/\">\r\n                            The Nile Delta is rapidly shrinking                        <\/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\/16\/the-nile-delta-is-rapidly-shrinking\/\" 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\/16\/the-nile-delta-is-rapidly-shrinking\/')\">\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\/16\/the-nile-delta-is-rapidly-shrinking\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The Nile Delta is rapidly shrinking&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/the-nile-delta-is-rapidly-shrinking\/\">\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\/16\/the-nile-delta-is-rapidly-shrinking\/&title=The Nile Delta is rapidly shrinking\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+Nile+Delta+is+rapidly+shrinking+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F16%2Fthe-nile-delta-is-rapidly-shrinking%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\/16\/the-nile-delta-is-rapidly-shrinking\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/371.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"554035\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/16\/the-nile-delta-is-rapidly-shrinking\/371-jpg-53\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/371.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"371.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/371.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/371.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554034\" class=\"content-area-description single-story post-554034 post type-post status-publish format-standard has-post-thumbnail hentry category-on-your-way-out tag-enterpriseam tag-food-security tag-on-your-way-out wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Rapid urbanization and rising sea levels are causing Egypt to lose 2% of its arable <\/strong><strong>land each decade<\/strong>, Nasa\u2019s Earth Observatory highlighted in its <a href=\"https:\/\/www.earthobservatory.nasa.gov\/images\/149183\/the-nile-deltas-disappearing-farmland\">\u2018image of the day\u2019 spot<\/a> yesterday. The feature compares satellite images of the landscape as it appeared in 1984, and in 2021, revealing the speed and scale of farmland desertification in the Nile Delta. Urbanization \u2014 fueled largely by population growth, as well as unlicensed building on farmland \u2014 is one part of the problem. The other is rising sea levels caused by global warming and subsidence, resulting in saltwater intrusion, which has damaged an estimated 15% of Egypt\u2019s most fertile regions.<\/p>\n<p><strong>If not addressed, desertification could lead to serious food security concerns, <\/strong>according to scientists. \u201cIt\u2019s not an exaggeration to say that this is a crisis,\u201d said Nasem Badreldin, a digital agronomist at the University of Manitoba .<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food-security\/\">food security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/on-your-way-out\/\">ON YOUR WAY OUT<\/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=\"554036\" 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\/16\/554036\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554036\" class=\"content-area-description single-story post-554036 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>12-16 December (Sunday-Thursday): The 15th edition of the <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/293137472856680\">Arab Conference on the Peaceful Uses of Atomic Energy<\/a> is taking place in Aswan.<\/p>\n<p>13-26 December (Monday-Sunday): Cleopatra Hospitals shareholders can subscribe to CI Capital\u2019s voluntary tender offer for 26% of the company.<\/p>\n<p>13-17 December (Monday-Friday): United Nations Convention against Corruption, Sharm El Sheikh, Egypt.<\/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>16 December (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>16 December (Thursday): Inquiry session for the Industrial Development Authority\u2019s licenses to manufacture tobacco products.<\/p>\n<p>16 December (Thursday): Cotton and Textile Industry Holding Company will sign agreements to secure a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/be048d4b-8046-42ca-9c4e-8122bd612cea\">EUR 540 mn loan<\/a> from Swiss and Italian banks.<\/p>\n<p>19 December (Sunday): Construction on <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/949fbd12-51f3-4544-9b9f-20470e5eb974\">bus rapid transit (BRT)<\/a> stops, pedestrian bridges and tunnels on the Ring Road will begin this week.<\/p>\n<p>26 December (Sunday): The House of Representatives returns from recess.<\/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: Egypt will begin <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dfe7607a-1e8a-44f3-b3bd-69a00b463d71\">exporting<\/a> natural gas to Lebanon.<\/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 January 2022 (Saturday): Private sector minimum wage introduced.<\/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>January-February 2022: Construction work on the Abu Qir metro upgrade <a href=\"https:\/\/www.youtube.com\/watch?v=vXBilirlgw0\">will begin<\/a>.<\/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\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":554010,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-554009","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"3e6cd530-020b-4986-a31d-659d0b407540","teaser":"","photo_url":"https:\/\/ent.news\/2021\/12\/361.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>It\u2019s the final interest rate day of 2021 - 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\/its-the-final-interest-rate-day-of-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"It\u2019s the final interest rate day of 2021\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/its-the-final-interest-rate-day-of-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T00:21:09+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\/361.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\/its-the-final-interest-rate-day-of-2021\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/its-the-final-interest-rate-day-of-2021\/\",\"name\":\"It\u2019s the final interest rate day of 2021 - 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