{"id":554232,"date":"2021-12-27T03:59:32","date_gmt":"2021-12-27T03:59:32","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=554232"},"modified":"2025-12-16T00:26:25","modified_gmt":"2025-12-16T00:26:25","slug":"macro-groups-ipo-is-back-on-and-ci-capital-now-owns-23-of-cleopatra-hospitals","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/macro-groups-ipo-is-back-on-and-ci-capital-now-owns-23-of-cleopatra-hospitals\/","title":{"rendered":"Macro Group\u2019s IPO is back on and CI Capital now owns 23% of Cleopatra Hospitals"},"content":{"rendered":"<section id=\"554234\" 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=\"554234\">\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\/27\/this-morning-cbe-extends-pandemic-fee-cuts-tourism-support-measures-anghami-swvl-in-a-race-to-see-who-spacs-first\/\">\r\n                            THIS MORNING: CBE extends pandemic fee cuts, tourism support measures + Anghami, Swvl in a race to see who SPACs first                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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         <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554234\" class=\"content-area-description single-story post-554234 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-abdel-fattah-el-sisi tag-anghami tag-central-bank-of-egypt tag-education tag-enterpriseam tag-house-of-representatives tag-moustafa-madbouly tag-spacs tag-state-budget tag-subsidies tag-swvl tag-tarek-shawki tag-thanaweya-amma tag-unified-budget-act 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 business week of 2021. <\/strong>We hope Santa Claus found you \u2014 and that Christmas was wonderful for all of our readers who observe.<\/p><p><strong>We have an incredibly packed issue this morning so we\u2019re going to jump right in<\/strong> after quickly reminding you all that EnterprisePM is on hiatus this week.<\/p><p><strong>PSA #1- We\u2019re getting another six-month holiday on fees for inter-bank EGP <\/strong><strong>transfers, ATM withdrawals and point-of-sale transactions<\/strong>, according to a Central Bank of Egypt (CBE) <a href=\"https:\/\/ent.news\/2021\/12\/CBE-PRL-AR.pdf\">statement (pdf)<\/a>. The measures also extend the waiver on fees for contactless payment cards, mobile wallets, and e-payments until the end of June 2022, while the CBE will also continue to cover the cost of withdrawal fees for pensioners. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/35e6ef99-0cd7-49b6-8c5f-a164d1bdd1ec\">The measures were introduced<\/a> during the first wave of the pandemic in March 2020 and were <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0d21662d-0829-49ce-bfe2-4e3cc3e78f80\">most recently<\/a> extended until the end of 2021.<\/p><p><strong>PSA #2- Banks can continue holding board meetings online: <\/strong>Exemptions to central bank rules regarding minimum attendance levels at bank board meetings and allowing boards to hold their meetings online or by conference call have also been extended for another year, according to a separate <a href=\"https:\/\/ent.news\/2021\/12\/Central-bank-circular-online-board-meetings.pdf\">CBE circular (pdf)<\/a>. The FRA has yet to say whether it will extend similar measures.<\/p><p><strong>PSA #3- <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b415495e-446b-4f30-9342-71f8caae67d8\">Measures brought in to aid the tourism industry<\/a><\/strong><strong> amid the pandemic have also <\/strong><strong>been extended for another year<\/strong> until 31 December, 2022, according to another <a href=\"https:\/\/ent.news\/2021\/12\/Central-bank-circular-tourism-industry-measures.pdf\">central bank circular (pdf)<\/a>. Tourism companies can continue to request a repayment freeze of up to three years on debt, while employees of tourism companies can still ask for a six-month holiday on personal loans. Employees who have taken out loans as part of a 2015 initiative to support tourism workers also remain eligible for a payment moratorium.<\/p><p><strong>PSA #4- We\u2019re not holding our breath for a long weekend to mark New Year\u2019s<\/strong>, as New Year\u2019s Day falls on a Saturday, making it unclear whether we\u2019ll have the following Sunday off. The central bank, stock market and cabinet have all been silent.<\/p><p><strong>PSA #5- New Year\u2019s weekend could be very wet in the capital city<\/strong>, with our favourite weather app calling for up to 5 mm of rain on Thursday, 10-15 mm on Friday, showers on Saturday and another c.10 mm of rain on Sunday. <strong>The rain could start even earlier in Alexandria<\/strong>, where there\u2019s a chance of showers on Tuesday ahead of an equally rainy weekend.<\/p><hr class=\"grey-line\"><p><strong>***WANT TO HAVE BREAKFAST WITH US?<\/strong> Every year, we ask our readers to weigh in on what you expect for the year ahead in our <a href=\"https:\/\/www.surveymonkey.co.uk\/r\/22JGWRP\">Enterprise Reader Poll<\/a>. Take a few minutes to give us your take on the outlook for your business and industry, whether you\u2019re planning fresh investments and new hires, and how your business fared in the year past. We\u2019ll share the results with the entire community in early January to help you shape your view of the year \u2014 and will invite eight of you to break bread with us. Another dozen of you who complete the poll will also get special Enterprise mugs to enjoy your morning beverage of choice.<\/p><p><strong>WHAT\u2019S HAPPENING TODAY- <\/strong><\/p><p><strong>It\u2019s a big week for infrastructure in Upper Egypt: <\/strong>President Abdel Fattah El Sisi is set to inaugurate this morning a new power transformer station in Esna, south of Luxor, as part of a string of official openings of major development projects in Upper Egypt throughout the week, <a href=\"https:\/\/bit.ly\/3sAB7Ql\">Al Shorouk<\/a> reports.<\/p><p><strong>FOR TOMORROW-<\/strong><\/p><p><strong>The <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5e74b5b9-6e89-4fcb-b133-c2c9bd9dede1\">Unified Budget Act<\/a><\/strong><strong> is up for discussion at the House of Representatives <\/strong><strong>tomorrow<\/strong>, according to parliament\u2019s schedule. The legislation would require the government to be more transparent in how it plans public finances, forcing it to present an annual medium-term budgetary and fiscal strategy to the House and set spending limits for each ministry.<\/p><p><strong>Also at the House:<\/strong> Education Minister Tarek Shawki will be in the building to respond to dozens of MPs\u2019 inquiries about his decision to merge the science and math specializations in Thanaweya Amma into one pathway.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p><strong>MARKET WATCH-<\/strong><\/p><p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>Anghami + Swvl SPACs are in a race to see who SPACs first in MENA: <\/strong>The two firms are both expecting their SPAC mergers to complete in the second half of January. Whoever makes it there first will become the first Middle Eastern tech company to be publicly traded on the tech-heavy US Nasdaq.<\/p><p><strong>Anghami expects to close its merger with Nasdaq-listed blank-check firm Vistas Media Acquisition Company next month<\/strong>, the company announced in a <a href=\"https:\/\/www.globenewswire.com\/news-release\/2021\/12\/22\/2356844\/0\/en\/Vistas-Media-Acquisition-Company-Inc-Announces-that-the-SEC-Has-Declared-Anghami-s-Form-F-4-Effective-in-Connection-with-its-Previously-Announced-Business-Combination.html\">statement<\/a>. The streaming platform\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a053ad47-40fd-4aba-b6ef-38340681965f\">merger<\/a> \u2014 which has an implied enterprise value of around USD 220 mn \u2014 is set to be approved at a special stockholders meeting on 19 January, after the US Securities and Exchange Commission greenlit the related paperwork.<\/p><p><strong>Meanwhile, mass transportation startup Swvl will also complete its merger late next month<\/strong>, <a href=\"https:\/\/bit.ly\/3pt5MgB\">Al Mal<\/a> quotes company CEO Mostafa Kandil as having said. Swvl will offer 35% of its shares on the Nasdaq through <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bfbf590f-581d-4b49-96b3-3ac733bb7fe3\">a merger<\/a> with US SPAC Queen\u2019s Gambit Growth Capital, having reached an agreement with the SPAC worth roughly USD 345 mn and valuing Swvl at around USD 1.5 bn.<\/p><p><strong>** SPEAKING OF VENTURE CAPITAL: Flat6Labs publishes 10-year impact report:<\/strong> Cairo-headquartered startup accelerator Flat6Labs has helped create more than 4k direct jobs through more than 300 investments in startups across Egypt and the wider region, the firm said in its <a href=\"https:\/\/www.flat6labs.com\/tenyears\/?mc_cid=14703b8d93&amp;mc_eid=2409e87563\">10-year-anniversary impact report<\/a>. The accelerator has grown its footprint across the MENA region since being founded in 2011 by our friends at <a href=\"https:\/\/sawariventures.com\/\">Sawari Ventures<\/a>, expanding to Saudi Arabia, the UAE, Tunisia, Lebanon, Bahrain, and Jordan. Watch Flat6Labs\u2019 founders talk about the report and the past 10 years for the accelerator in a fireside chat to launch the report <a href=\"https:\/\/www.youtube.com\/watch?v=FOVATCxDZ-Y\">here (runtime: 40:05)<\/a>. The report was prepared with the assistance of the nice people at <a href=\"https:\/\/inktankir.com\/\">Inktank<\/a>, our parent company.<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>CGT + private sector minimum wage coming into effect:<\/strong> The capital gains tax on EGX transactions and national minimum wage for private sector workers will each come into effect as of this Saturday, 1 January. Both have been met with significant resistance from the business community. The government introduced a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0d5b64f8-dc18-49ff-8e2b-2a2b09107c25\">package of sweeteners<\/a> to cushion the impact of the 10% tax on EGX trades, while the National Council for Wages gave thousands of companies <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/305cb528-260b-4ce8-9b62-16b7235fb92e\">a six-week reprieve<\/a> from the new minimum wage while it reviews their requests for exemptions or postponements.<\/p><p><strong>Look out for an announcement on the second round of the state\u2019s gold + minerals <\/strong><strong>bid: <\/strong>The Oil Ministry will early next year announce the results of the second round of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/72010319-5236-4436-851b-4b55455f42ff\">its exploration tender<\/a>, an official source <a href=\"https:\/\/www.elwatannews.com\/news\/details\/5876314\">told El Watan<\/a>.<\/p><p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/CIRA-Blackboard-Banner-B.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. Blackboard appears every Monday in Enterprise in the place of our traditional industry news roundups.<\/p><p><strong>In today\u2019s issue:<\/strong> We look at a handful of this year\u2019s book releases that dive into trends in education. These books look at the future of education and what schools will look like down the road, how to best prepare students for the job market of the future, and their thoughts on tech-enabled learning.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/anghami\/\">Anghami<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/education\/\">Education<\/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\/moustafa-madbouly\/\">Moustafa Madbouly<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/spacs\/\">SPACs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-budget\/\">state budget<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/subsidies\/\">subsidies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/swvl\/\">Swvl<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tarek-shawki\/\">Tarek Shawki<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/thanaweya-amma\/\">Thanaweya Amma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/unified-budget-act\/\">Unified Budget Act<\/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=\"554235\" 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=\"554235\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/554235\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554235\" class=\"content-area-description single-story post-554235 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='http:\/\/www.somabay.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/SOMA-ENTERPRISE-XMAS21-1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"554236\" 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=\"554236\">\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\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/macro-group-revives-ipo-plans-for-1q2022\/\">\r\n                            Macro Group revives IPO plans for 1Q2022                        <\/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\/27\/macro-group-revives-ipo-plans-for-1q2022\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/macro-group-revives-ipo-plans-for-1q2022\/489-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/489.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"489.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/489.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/489.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554236\" class=\"content-area-description single-story post-554236 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-efg-hermes tag-egx tag-enterpriseam tag-financial-regulatory-authority tag-ipo-watch tag-macro-group tag-renaissance-capital wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><b data-stringify-type=\"bold\">Cosmeceuticals giant Macro Group Pharma may make its EGX debut\u00a0in the first quarter of 2022<\/b>, a source familiar with the matter told Enterprise, adding that the exact timeline for the IPO has not yet been set. The company yesterday received approval from the Financial Regulatory Authority (FRA) to list on the bourse, according to an\u00a0<a class=\"c-link\" href=\"https:\/\/ent.news\/2021\/12\/FRA-approval-of-new-EGX-listings.pdf\" target=\"_blank\" rel=\"noopener noreferrer\" data-stringify-link=\"https:\/\/ent.news\/2021\/12\/FRA-approval-of-new-EGX-listings.pdf\" data-sk=\"tooltip_parent\">FRA statement (pdf)<\/a>, which said Macro Group plans to offer up to 45.8% of its shares in a transaction that could value the company at around EGP 3.5 bn.<\/p>\n<p><b data-stringify-type=\"bold\">The pharma group plans to start the book building process from scratch<\/b>\u00a0after the holiday season ends, Enterprise has learned. Macro Group\u00a0<a class=\"c-link\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/75b46198-eeb9-4f78-81cf-25219caf31c2\" target=\"_blank\" rel=\"noopener noreferrer\" data-stringify-link=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/75b46198-eeb9-4f78-81cf-25219caf31c2\" data-sk=\"tooltip_parent\">postponed its IPO plans<\/a> at the last minute in April despite strong appetite from international institutional investors, citing concern for the market\u2019s capacity to absorb a packed offerings schedule on the EGX. The company was about to kick off retail subscription when the listing was postponed, with <a class=\"c-link\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2d689e02-cc68-4383-b4be-59a75b1e7580\" target=\"_blank\" rel=\"noopener noreferrer\" data-stringify-link=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2d689e02-cc68-4383-b4be-59a75b1e7580\" data-sk=\"tooltip_parent\">shares priced at between EGP 5.30-6.15 apiece<\/a> for a total listing value of EGP 3.1-3.6 bn.<\/p>\n<p><b data-stringify-type=\"bold\">Favorable conditions pushing this forward:<\/b> \u201cThe current favorable market conditions have created the right climate for our company to move forward with our IPO plans, and we look forward to having new shareholders join our journey, the journey of Egypt\u2019s leading cosmeceuticals business,\"\u00a0 Macro CEO Hisham Wasfy told us.<\/p>\n<p><b data-stringify-type=\"bold\">ADVISORS:<\/b>\u00a0EFG Hermes is quarterbacking the transaction as sole global coordinator. EFG Hermes and Renaissance Capital are acting as joint bookrunners, while White & Case is counsel to the issuer.\u00a0<a class=\"c-link\" href=\"https:\/\/www.inktankir.com\/\" target=\"_blank\" rel=\"noopener noreferrer\" data-stringify-link=\"https:\/\/www.inktankir.com\/\" data-sk=\"tooltip_parent\">Inktank<\/a> is investor relations advisor.<\/p>\n<p><b data-stringify-type=\"bold\">More IPOs to hit the EGX:\u00a0<\/b>The FRA has also given approval for\u00a0<a class=\"c-link\" href=\"http:\/\/nahrelkhair.com\/about.php?p=about\" target=\"_blank\" rel=\"noopener noreferrer\" data-stringify-link=\"http:\/\/nahrelkhair.com\/about.php?p=about\" data-sk=\"tooltip_parent\">Nahr Elkhair Development and Investment<\/a> to offer up to 61% of its shares in a transaction that could value the company at EGP 500 mn, according to the statement. Other private-sector companies who we could see make an entry on the EGX in 2022 include <a class=\"c-link\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/98bcedd8-3687-4806-9a48-9efe1527cb04\" target=\"_blank\" rel=\"noopener noreferrer\" data-stringify-link=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/98bcedd8-3687-4806-9a48-9efe1527cb04\" data-sk=\"tooltip_parent\">Abu Auf<\/a>\u00a0and\u00a0<a class=\"c-link\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e2288438-1757-4a28-b7a4-8060a362753b\" target=\"_blank\" rel=\"noopener noreferrer\" data-stringify-link=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e2288438-1757-4a28-b7a4-8060a362753b\" data-sk=\"tooltip_parent\">Ebtikar<\/a>, while others have recently suggested they\u2019re keeping an eye on market conditions.<\/p>\n<p><em>EDITOR'S NOTE: This story was corrected on 12 January, 2021 to reflect that the EGP 3.5 bn figure refers to the potential value of 100% of Macro Group's shares, not the 45.8% of shares set to be offered in the transaction. It was further corrected on 18 January, 2021 to reflect that, similarly, EGP 500 mn is the fair value estimate of Nahr Elkhair as a whole, not the 61% set to be offered.\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\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/macro-group\/\">Macro Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renaissance-capital\/\">Renaissance Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"554238\" 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=\"554238\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/mci-capital-now-owns-23-of-cleopatra-hospitals\/\">\r\n                            MCI Capital now owns 23% of Cleopatra Hospitals                        <\/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\/27\/mci-capital-now-owns-23-of-cleopatra-hospitals\/\" 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\/27\/mci-capital-now-owns-23-of-cleopatra-hospitals\/')\">\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\/27\/mci-capital-now-owns-23-of-cleopatra-hospitals\/\">\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=MCI Capital now owns 23% of Cleopatra Hospitals&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/mci-capital-now-owns-23-of-cleopatra-hospitals\/\">\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\/27\/mci-capital-now-owns-23-of-cleopatra-hospitals\/&title=MCI Capital now owns 23% of Cleopatra Hospitals\">\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=MCI+Capital+now+owns+23%25+of+Cleopatra+Hospitals+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F27%2Fmci-capital-now-owns-23-of-cleopatra-hospitals%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\/27\/mci-capital-now-owns-23-of-cleopatra-hospitals\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/490.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"554239\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/mci-capital-now-owns-23-of-cleopatra-hospitals\/490-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/490.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"490.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/490.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/490.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554238\" class=\"content-area-description single-story post-554238 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-ci-capital tag-cleopatra-hospitals-group tag-enterpriseam tag-ma-watch tag-mci-capital wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>MCI Capital has acquired a 23% stake in Cleopatra Hospitals: <\/strong>MCI Capital Healthcare Partners, a subsidiary of state-owned financial services company CI Capital, has acquired around 23%, or 367.8 mn shares, of Cleopatra Hospitals Group (CHG), according to a <a href=\"https:\/\/www.asharqbusiness.com\/article\/30529\">Bloomberg Asharq<\/a>. MCI bought the shares at EGP 5 apiece, making the transaction worth a total EGP 1.8 bn and valuing CHG at EGP 8 bn.<\/p>\n<p><strong>MCI Capital\u2019s total holding in CHG now stands at around 26.8%:<\/strong> MCI already held a 3.8% stake in CHG before the acquisition, a source with first-hand knowledge told us. Creed Healthcare, which previously held 37.9% of CHG through its subsidiary Care Healthcare, remains the hospital group\u2019s single biggest shareholder after selling a stake of between 8-12% in the company to MCI as part of the transaction.<\/p>\n<p><strong>MCI was hoping for a slightly bigger slice of CHG: <\/strong>CHG\u2019s board <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a4b72095-c05e-4d68-b40c-f1006f926a9c\">last week approved<\/a> MCI\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8a67bda2-2571-4d68-b600-30894ac00789\">bid<\/a> to acquire up to 26.2% of the company, noting that the EGP 5-per-share offer was 14% higher than CHG\u2019s average share price over the past six months.<\/p>\n<p><strong>CHG\u2019s shares inched up 1.0% yesterday<\/strong>, closing at EGP 4.95.<\/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\/ci-capital\/\">CI Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cleopatra-hospitals-group\/\">Cleopatra Hospitals Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mci-capital\/\">MCI Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"554240\" 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=\"554240\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/eni-commits-usd-1-bn-to-oil-exploration-in-suez-gulf-nile-delta\/\">\r\n                            Eni commits USD 1 bn to oil exploration in Suez Gulf + Nile Delta                        <\/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\/27\/eni-commits-usd-1-bn-to-oil-exploration-in-suez-gulf-nile-delta\/\" 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\/27\/eni-commits-usd-1-bn-to-oil-exploration-in-suez-gulf-nile-delta\/')\">\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\/27\/eni-commits-usd-1-bn-to-oil-exploration-in-suez-gulf-nile-delta\/\">\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=Eni commits USD 1 bn to oil exploration in Suez Gulf + Nile Delta&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/eni-commits-usd-1-bn-to-oil-exploration-in-suez-gulf-nile-delta\/\">\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\/27\/eni-commits-usd-1-bn-to-oil-exploration-in-suez-gulf-nile-delta\/&title=Eni commits USD 1 bn to oil exploration in Suez Gulf + Nile Delta\">\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=Eni+commits+USD+1+bn+to+oil+exploration+in+Suez+Gulf+%2B+Nile+Delta+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F27%2Feni-commits-usd-1-bn-to-oil-exploration-in-suez-gulf-nile-delta%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\/27\/eni-commits-usd-1-bn-to-oil-exploration-in-suez-gulf-nile-delta\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/491.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"554241\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/eni-commits-usd-1-bn-to-oil-exploration-in-suez-gulf-nile-delta\/491-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/491.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"491.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/491.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/491.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554240\" class=\"content-area-description single-story post-554240 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-egyptian-general-petroleum-corporation tag-eni tag-enterpriseam tag-investment-watch tag-oil-and-gas tag-oil-ministry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a><strong> Eni to invest at least USD 1 bn on oil production in Suez Gulf, Nile Delta: <\/strong>Italian energy firm Eni has signed an agreement with the state-owned Egyptian General Petroleum Corporation (EGPC), committing Eni to spending a minimum USD 1 bn on exploration and extraction in the Gulf of Suez and Nile Delta regions, according to an Oil Ministry <a href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/219720480342931?__cft__[0]=AZXXwI1Ls-uObBEQZYRoHCCdXfmv1BFkBUG_HFxS353ZPJRAS7lg0TlTVpLRl3T0-VKIgHTJxOCiP80zrEoBARMN_82-DPj6LjnOG-zkX9jOt-COT2t80kX6VoO1gKdRJ3yQojU2Kv2s8mD5GQEwQZPDD-Jmlc3fPjXHfumhV2SGIA&__tn__=%2CO%2CP-R\">statement<\/a>. The statement did not specify the timeframe in which the investments are expected to be made.<\/p>\n<p><strong>Eni also committed an extra USD 20 mn to drill four wells<\/strong> in the region, according to the statement.<\/p>\n<p><strong>Expect to see more (hopefully greener) agreements between the Oil Ministry and Eni: <\/strong>The two sides have lined up a number of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4ed7b3c1-2514-4f68-9b61-11486f0e348a\">joint initiatives<\/a> on carbon capture, utilization and storage (CCUS), to be announced during the upcoming COP27 global climate summit in Sharm El Sheikh next year. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e84aa974-8be0-4d71-beab-9d9b4d86706d\">Carbon capture<\/a> is expected to be a big theme at COP27, with Oil Minister Tarek El Molla stressing its importance to the oil and gas industry and to combating climate change.<\/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-general-petroleum-corporation\/\">Egyptian General Petroleum Corporation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eni\/\">Eni<\/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\/oil-and-gas\/\">oil and gas<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"554242\" 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=\"554242\">\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\">NON-BANK FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/efg-hermes-signs-egp-750-mn-sale-leaseback-agreement-with-mnhd\/\">\r\n                            EFG Hermes signs EGP 750 mn sale + leaseback agreement with MNHD                        <\/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\/27\/efg-hermes-signs-egp-750-mn-sale-leaseback-agreement-with-mnhd\/\" 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\/27\/efg-hermes-signs-egp-750-mn-sale-leaseback-agreement-with-mnhd\/')\">\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\/27\/efg-hermes-signs-egp-750-mn-sale-leaseback-agreement-with-mnhd\/\">\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=EFG Hermes signs EGP 750 mn sale + leaseback agreement with MNHD&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/efg-hermes-signs-egp-750-mn-sale-leaseback-agreement-with-mnhd\/\">\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\/27\/efg-hermes-signs-egp-750-mn-sale-leaseback-agreement-with-mnhd\/&title=EFG Hermes signs EGP 750 mn sale + leaseback agreement with MNHD\">\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=EFG+Hermes+signs+EGP+750+mn+sale+%2B+leaseback+agreement+with+MNHD+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F27%2Fefg-hermes-signs-egp-750-mn-sale-leaseback-agreement-with-mnhd%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\/27\/efg-hermes-signs-egp-750-mn-sale-leaseback-agreement-with-mnhd\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/493.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"554243\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/efg-hermes-signs-egp-750-mn-sale-leaseback-agreement-with-mnhd\/493-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/493.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"493.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/493.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/493.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554242\" class=\"content-area-description single-story post-554242 post type-post status-publish format-standard has-post-thumbnail hentry category-non-bank-finance tag-efg-hermes tag-enterpriseam tag-misr-italia-properties tag-non-bank-finance tag-non-banking-financial-services tag-real-estate wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a><strong> EFG <\/strong><strong>Hermes\u2019 leasing and factoring arm has signed an EGP 750 mn sale and leaseback agreement with Madinet Nasr for Housing and Development<\/strong> (MNHD), the two companies said in a <a href=\"https:\/\/ent.news\/2021\/12\/Madinet-Nasr-PDF.pdf\">statement (pdf)<\/a> on Sunday. The agreement is for the sale and leaseback of MNHD\u2019s <a href=\"https:\/\/cobaltbd.mnhd.com\/\">Cobalt district<\/a> in its Taj City development, MNHD head of investor relations Salah Katamish told us yesterday.<\/p>\n<p><strong>The agreement also includes \u201ca few securitization issuances as follow-on transactions,\u201d<\/strong> according to the statement, which did not disclose the duration of the lease agreement. EFG Hermes\u2019 investment banking division acted as the financial advisor for the transaction.<\/p>\n<p><strong>EFG is growing its commercial property portfolio:<\/strong> The transaction follows a sale and leaseback agreement signed between EFG Hermes Corp Solutions and<a href=\"https:\/\/enterprise.press\/issues\/2021\/10\/06\/enterpriseam-jobs-business-confidence-pmi-four-month-low\/#tldr-story-04\">Misr Italia Properties<\/a> in October, also amounting to EGP 750 mn, to refinance its Garden 8 Mall in New Cairo. EFG Hermes Corp-Solutions is looking to expand its business in commercial real estate financing, Corp-Solutions CEO Talal Elayat said in a statement on the Misr Italia transaction.<\/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\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/misr-italia-properties\/\">Misr Italia Properties<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/non-bank-finance\/\">NON-BANK FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/non-banking-financial-services\/\">non-banking financial services<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"554244\" 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=\"554244\">\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\">Automotive<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/tuktuks-could-soon-be-replaced-with-minivans\/\">\r\n                            Tuktuks could soon be replaced with minivans                        <\/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\/27\/tuktuks-could-soon-be-replaced-with-minivans\/\" 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\/27\/tuktuks-could-soon-be-replaced-with-minivans\/')\">\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\/27\/tuktuks-could-soon-be-replaced-with-minivans\/\">\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=Tuktuks could soon be replaced with minivans&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/tuktuks-could-soon-be-replaced-with-minivans\/\">\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\/27\/tuktuks-could-soon-be-replaced-with-minivans\/&title=Tuktuks could soon be replaced with minivans\">\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=Tuktuks+could+soon+be+replaced+with+minivans+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F27%2Ftuktuks-could-soon-be-replaced-with-minivans%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\/27\/tuktuks-could-soon-be-replaced-with-minivans\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/494.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"554245\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/tuktuks-could-soon-be-replaced-with-minivans\/494-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/494.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"494.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/494.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/494.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554244\" class=\"content-area-description single-story post-554244 post type-post status-publish format-standard has-post-thumbnail hentry category-automotive tag-automotive tag-enterpriseam tag-finance-ministry tag-natgas-transition-scheme tag-tuktuks wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Minivans could replace tuktuks + licenses could be given to 16-year-olds:<\/strong> The Trade Ministry has finished drafting a plan to replace tuktuks with vehicles \u201csimilar\u201d to minivans, <a href=\"https:\/\/bit.ly\/33T3PBD\">Al Shorouk<\/a> reports, citing an unnamed ministry source. The ministry\u2019s plan would also streamline procedures to purchase the vehicles and would lower the minimum age for a license to 16. The plan has been shipped to the Finance Ministry to review the financing budget, the source said, but a separate source from the Finance Ministry denied having received it, saying it needs to first be reviewed by cabinet.<\/p>\n<p><strong>What do we know about the plan so far? <\/strong>The plan should determine which factories will assemble the minivans, as well as their required production capacity, and quota for local components, which was reportedly conditioned to be at 45%. It should also require minivans to be registered as public transport vehicles.<\/p>\n<p><strong>Background<\/strong><strong>:<\/strong> The Trade Ministry recently <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0db2880d-bff8-49bc-a419-f0d0edc9ff40\">issued<\/a> a decision to stop importing the basic components needed for the local assembly of tuktuks, including the base, the chassis and engine in a bid to phase them out. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b852e5ee-45af-4686-acd9-817215e64a32\">Earlier reports<\/a> suggested that GB Auto \u2014 which assembles tuktuks \u2014 could work with the Public Enterprises Ministry to manufacture the tuktuk alternatives, which were then reported to be natural gas-powered minivans, but the talks have since been <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2a1294da-6129-4674-a301-157521404d28\">shelved<\/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\/automotive\/\">automotive<\/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\/natgas-transition-scheme\/\">natgas transition scheme<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tuktuks\/\">Tuktuks<\/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=\"554246\" 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=\"554246\">\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\">BUDGET WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/a-clear-vision-on-subsidies-coming-in-early-2022\/\">\r\n                            A \u201cclear vision\u201d on subsidies coming in early 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\/27\/a-clear-vision-on-subsidies-coming-in-early-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\/27\/a-clear-vision-on-subsidies-coming-in-early-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\/27\/a-clear-vision-on-subsidies-coming-in-early-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=A \u201cclear vision\u201d on subsidies coming in early 2022?&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/a-clear-vision-on-subsidies-coming-in-early-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\/27\/a-clear-vision-on-subsidies-coming-in-early-2022\/&title=A \u201cclear vision\u201d on subsidies coming in early 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=A+%E2%80%9Cclear+vision%E2%80%9D+on+subsidies+coming+in+early+2022%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F27%2Fa-clear-vision-on-subsidies-coming-in-early-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\/27\/a-clear-vision-on-subsidies-coming-in-early-2022\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554246\" class=\"content-area-description single-story post-554246 post type-post status-publish format-standard hentry category-budget-watch tag-budget-watch tag-enterpriseam tag-state-budget tag-subsidies wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The government will set out a \u201cclear vision\u201d on subsidies when preparing next fiscal <\/strong><strong>year\u2019s state <\/strong><strong>budget in March<\/strong>, Prime Minister Moustafa Madbouly <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/301161742054253?__cft__[0]=AZUWKdV6uDBiZHJIcHQaoJuYa56pqweE4p70t-1aON41t17IAD9U4oaLoDBB8fPk9ahKF2LV7x-kw2qj-9AMFHsnaO5cSo_U2o00IMcY2iTlSedDjR-o3KKViD43kuLOEdXlxtZKWVVdqqRZudGF8WTU&__tn__=%2CO%2CP-R\">said on Thursday<\/a>. Speaking at a press conference to mark <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/301103428726751?__cft__[0]=AZUSvV0X2KRrp0orUVcgevXyeXgjXN2qfGKa-1_1wqUj8oUmqy8qmiJYqMUjmVQzGcmS3GrW8oz9iVyxtjAZcR7r3rSbe9_9bk0wtwYRa5rEuUzH0geT-_basG37PpjOLoFzXDCnMCXlRZzhnrUPlYcu&__tn__=%2CO%2CP-R\">the first cabinet meeting<\/a> to be held in the new administrative capital, Madbouly said that the government must strike a balance between providing support to citizens and maintaining the country\u2019s economic performance, especially given global inflationary pressures and a rapidly increasing population.<\/p>\n<p><strong>Inflationary pressures are set to impact subsidies:<\/strong> Egypt is not immune from the squeeze on commodities, rising shipping costs and higher input costs seen worldwide, Madbouly said, adding that it wouldn\u2019t be logical for local prices to remain fixed given the wider inflationary environment. His comments came a day after President Abdel Fattah El Sisi suggested that new rules could come into effect on <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0ecdd20b-ae8d-4e2c-aff2-0fbf3b18843d\">eligibility for subsidy ration cards<\/a>, as the government continues to reform the subsidy system to reduce its burden on the state budget.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/budget-watch\/\">budget watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-budget\/\">state budget<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/subsidies\/\">subsidies<\/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=\"554247\" 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=\"554247\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/qalaa-looking-at-africa-says-erc-still-in-talks-on-debt-restructuring\/\">\r\n                            Qalaa looking at Africa, says ERC still in talks on debt restructuring                        <\/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\/27\/qalaa-looking-at-africa-says-erc-still-in-talks-on-debt-restructuring\/\" 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\/27\/qalaa-looking-at-africa-says-erc-still-in-talks-on-debt-restructuring\/')\">\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\/27\/qalaa-looking-at-africa-says-erc-still-in-talks-on-debt-restructuring\/\">\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=Qalaa looking at Africa, says ERC still in talks on debt restructuring&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/qalaa-looking-at-africa-says-erc-still-in-talks-on-debt-restructuring\/\">\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\/27\/qalaa-looking-at-africa-says-erc-still-in-talks-on-debt-restructuring\/&title=Qalaa looking at Africa, says ERC still in talks on debt restructuring\">\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=Qalaa+looking+at+Africa%2C+says+ERC+still+in+talks+on+debt+restructuring+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F27%2Fqalaa-looking-at-africa-says-erc-still-in-talks-on-debt-restructuring%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\/27\/qalaa-looking-at-africa-says-erc-still-in-talks-on-debt-restructuring\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554247\" class=\"content-area-description single-story post-554247 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-energy tag-enterpriseam tag-fdi tag-mining tag-national-bank-of-egypt tag-qalaa-holdings wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Qalaa Holdings is looking to expand its investments in African mining and energy <\/strong><strong>firms<\/strong>, including in Tanzania, Mozambique and Ghana, Qalaa Chairman and Founder Ahmed Heikal told <a href=\"https:\/\/bit.ly\/32u9s8K\">CNBC<\/a> on Thursday. Qalaa will look to gradually increase its investments in Africa, which currently stand at USD 500 mn, Heikal said. He added that the investment firm has suspended two of its energy projects in Sudan, one in gas and the other in solar power, until the situation in the country stabilizes.<\/p>\n<p><strong>ALSO- Qalaa subsidiary the Egyptian Refining Company (ERC) is still in talks for a debt <\/strong><strong>restructuring agreement<\/strong> with its lenders and has not yet received preliminary approval to extend the loan\u2019s tenor, contrary to a report in Al Mal that we picked up last week. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/db182eb8-a248-494e-be93-a9bbde4e1496\">The story<\/a> has been updated on our website.<\/p>\n<p><strong>AND- NBE\u2019s Al Ahly Leasing Company is looking to issue EGP 700 mn worth of <\/strong><strong>securitized bonds <\/strong>in its first securitized offering, <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=25122021&id=37534b32-c223-43cb-ba44-2438ef45b2ae\">Al Shorouk<\/a> reports, citing unnamed sources. No details were provided on an expected timeline for the offering. Dreny and Partners has been appointed as advisor for the issuance, KPMG Hazem Hassan as auditor, and Al Ahly Pharos as financial advisor.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fdi\/\">FDI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mining\/\">mining<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-bank-of-egypt\/\">National Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qalaa-holdings\/\">Qalaa Holdings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"554248\" 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=\"554248\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/everything-you-need-to-know-about-covid-on-27-december-2021\/\">\r\n                            Everything you need to know about covid on 27 December 2021                        <\/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\/27\/everything-you-need-to-know-about-covid-on-27-december-2021\/\" 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\/27\/everything-you-need-to-know-about-covid-on-27-december-2021\/')\">\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\/27\/everything-you-need-to-know-about-covid-on-27-december-2021\/\">\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=Everything you need to know about covid on 27 December 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/everything-you-need-to-know-about-covid-on-27-december-2021\/\">\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\/27\/everything-you-need-to-know-about-covid-on-27-december-2021\/&title=Everything you need to know about covid on 27 December 2021\">\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=Everything+you+need+to+know+about+covid+on+27+December+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F27%2Feverything-you-need-to-know-about-covid-on-27-december-2021%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\/27\/everything-you-need-to-know-about-covid-on-27-december-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554248\" class=\"content-area-description single-story post-554248 post type-post status-publish format-standard hentry category-covid-watch tag-astrazeneca tag-covid-19 tag-enterpriseam tag-moderna tag-pfizer 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\/236199892024566\">reported<\/a><\/strong><strong> 823 new covid-19 infections yesterday<\/strong>, down from 866 the day before. Egypt has now disclosed a total of 381,343 confirmed cases of covid-19. The ministry also reported 37 new deaths, bringing the country\u2019s total death toll to 21,608.<\/p>\n<p><strong>We\u2019ve received 2.3 mn new covid-19 vaccines:<\/strong> A total of 2.3 mn covid-19 jabs \u2014 1.5 mn of which were Pfizer, 462k Moderna, and 352.8k AstraZeneca \u2014 arrived at Cairo International Airport yesterday as part of the Gavi \/ Covax program, according to a Health Ministry <a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/236077152036840\">statement<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/moderna\/\">Moderna<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"554249\" 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=\"554249\">\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\">YEAR IN REVIEW: COVID<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/2021-the-year-of-vaccines\/\">\r\n                            2021: The year of vaccines                        <\/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\/27\/2021-the-year-of-vaccines\/\" 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\/27\/2021-the-year-of-vaccines\/')\">\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\/27\/2021-the-year-of-vaccines\/\">\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=2021: The year of vaccines&url=https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/2021-the-year-of-vaccines\/\">\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\/27\/2021-the-year-of-vaccines\/&title=2021: The year of vaccines\">\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=2021%3A+The+year+of+vaccines+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F27%2F2021-the-year-of-vaccines%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\/27\/2021-the-year-of-vaccines\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/495.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"554250\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/2021-the-year-of-vaccines\/495-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/495.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"495.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/495.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/495.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554249\" class=\"content-area-description single-story post-554249 post type-post status-publish format-standard has-post-thumbnail hentry category-year-in-review-covid tag-covid-19 tag-enterpriseam tag-health-ministry tag-tourism tag-vaccines tag-year-in-review-covid wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>The year did not start well for us, with daily cases reaching the <\/strong><strong>highest number since early July 2020<\/strong> and the Health Ministry <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a2d8e6eb-a834-4940-b3d6-a56c1dab880a\">reporting<\/a> 1,409 new daily infections. We had hit 140,878 total cases as of the start of 2021 with a death toll of 7,741 at the beginning of the year, prompting the government to institute more lockdown measures. These numbers, coupled with fears of new variants had landed us on several countries\u2019 no-flight and red lists, including a number of important markets such as the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5c19d4a2-09dd-4630-9337-bc0e08fbd385\">GCC<\/a>, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/49d984c1-3825-437c-b742-2fce3cf21689\">the UK<\/a>and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d9892d31-bf32-4d4e-a42e-d4eadeb1683e\">Russia<\/a>, severely impacting tourism. As with all nations, Egypt had to reckon with the fact that any recovery would mean a mass vaccination campaign.<\/p>\n<p><strong>Egypt spared no effort to ensure it got its hands on enough covid jabs: <\/strong>Egypt <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/acb4a69b-9a99-4394-881c-9aba0c326cb9\">signed an agreement<\/a> with the World Health Organization\u2019s (WHO) Gavi\/Covax initiative to receive 40 mn vaccine doses in 2021, including AstraZeneca, Moderna, Johnson & Johnson, and Pfizer. Back in May, Russia and the Health Ministry <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8980ecbc-a193-449c-a2a0-eaefe5c43983\">signed a contract<\/a> granting us 10 mn doses of the Russian Sputnik V covid jab, which we began receiving in June. We also inked a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5898eefd-37d5-4b16-b431-c491cbe0f6bc\">20 mn dose agreement<\/a> for China\u2019s covid-19 vaccine Sinopharm. As of this week, Egypt had received a <a href=\"https:\/\/www.facebook.com\/USEmbassyCairo\/posts\/280873367418979?__cft__[0]=AZWew8PyVDRD4fRIzxdLZUhdsfu3tmfOEZdzWjCYxBGA8oxLWaYKbHoldqHCJLS2ZagjdrHP70RJFVofGUgkqnEeYtGfzGjSbLJ18Yk5pg47fkXuRADc28NkG6d-W0dOo-Z3KrsCriHQLTpzNofbWbyFfTIZvell4NyI7QRCrpoj3Q&__tn__=%2CO%2CP-R\">total 15 mn<\/a> Pfizer shots from the US, who to date, also gave us <a href=\"https:\/\/www.facebook.com\/USAIDEgypt\/posts\/4732388986813829\">3.5 mn Moderna shots<\/a> and over <a href=\"https:\/\/www.facebook.com\/USAIDEgypt\/posts\/4794274303958630\">1.3 mn Johnson & Johnson shots<\/a>. We\u2019ve also been receiving doses from a number of other countries, including an undisclosed number of jabs from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fc29402e-c8e5-4a2e-bf2b-2fbc12a4a3f2\">Japan<\/a> and 1.3 mn shots from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/882096c2-7808-4bf9-b669-a13b6bbac4a3\">Spain<\/a>.<\/p>\n<p><strong>We started making our own vaccines:<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f26e1432-d88a-4d80-a628-e03687889ed5\">Back in May<\/a>, Minapharm was contracted to produce some 40 mn doses per year of Russia\u2019s Sputnik V jab, with production initially expected to begin 3Q2021. It appears the company hasn\u2019t started manufacturing the jabs yet, with Russia\u2019s ambassador in Cairo <a href=\"https:\/\/bit.ly\/3pt60nW\">saying yesterday<\/a> that Minapharm will begin producing the jabs for Egypt and Africa. We <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/63370699-a5aa-4b7e-bbde-a2714409d39e\">started producing<\/a> locally-made Sinovac in our Vacsera facilities, with a target total production of 40 mn doses from June through year-end. Eva Pharma also got the green light to produce the Chinese jab <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b4d085fc-892c-4f35-8276-eeef2bbb220d\">in June<\/a>, but it remains unclear when manufacturing is set to begin. And we could be looking at more locally made jabs with authorities in talks to locally produce the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/399f80aa-e0a7-4844-bc3d-e92cf954a53b\">Moderna<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/23fbc3e3-2ca7-472d-b7b6-329cfe62690f\">AstraZeneca<\/a> shots.<\/p>\n<p><strong>And our very own locally made covid jab <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b5524763-ab2f-4eb3-a685-052091da22da\">Covi Vax<\/a><\/strong> <strong>made it to <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/87ac4964-9252-4ea9-8c3d-daf2b8232913\">clinical trials<\/a><\/strong><strong> last month <\/strong>after being in the works for almost a year.<\/p>\n<p><strong>The government kickstarted the year with its covid <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cf9c4d8a-f9e7-42db-8659-e5eaf8a80788\">vaccination campaign<\/a><\/strong>, setting a target of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8260b20c-1948-423b-939f-40ffffd52503\">having 40%<\/a> of the population vaccinated by the end of the year. The campaign kicked off in January, targeting frontline medical staff working in fever wards, isolation facilities and chest hospitals. The program was then expanded to include those at risk from among the eldery and chronically sick <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ee1f5141-646a-4a5c-9811-22fae65ea6e1\">in March<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c3611499-4c07-4b9f-b40b-1fdcadead53e\">weeks later<\/a> vaccine registration was open for all adults. To expedite the process, the government expanded the number of vaccination centers available, began offering <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d2b45429-f41e-41c3-ba40-035fdc2584f7\">same-day vaccination<\/a> at walk-in clinics, and rolled out <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7bf09ace-ce03-45c5-9778-539516439d02\">on-site vaccination<\/a> kiosks in several locations, including at the Cairo Metro.<\/p>\n<p><strong>The government also got tough on anti-vaxxers<\/strong>, imposing new restrictions on the unvaccinated. Government facilities became <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/547cee89-6af8-4e07-8bb2-777f71b1a861\">off limits<\/a> to the unvaccinated as of 1 December, with members of the public obligated to show proof that they\u2019ve received at least one dose of a covid-19 vaccine in order to enter government facilities. Two weeks earlier, civil servants were not allowed to go to work unless they were vaccinated.<\/p>\n<p><strong>\u2026and is pushing for vaccines for children as young as 12: <\/strong>Egypt authorized the use of the Pfizer-BioNTech covid vaccine for children <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8260b20c-1948-423b-939f-40ffffd52503\">aged 12-15 late November<\/a>, only weeks after it greenlit vaccinating <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/547cee89-6af8-4e07-8bb2-777f71b1a861\">children between 15-18<\/a>.<\/p>\n<p><strong>Now, the Health Ministry is <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fe331ee0-e407-486b-a685-363bd34dbc11\">offering booster shots<\/a><\/strong><strong> to qualified individuals<\/strong>, including senior citizens with chronic medical conditions as well as medical staff. To make things easier, the ministry is shooting text messages to everyone in its database who qualifies for a booster with the date and center for their next jab.<\/p>\n<p><strong>Where do we currently stand?<\/strong> By our calculations, we have received a total of around 66.8 mn vaccine doses to date. <a href=\"https:\/\/www.youtube.com\/watch?v=xi3rwtjPUrk\">Some 55 mn doses<\/a> of various jabs have been given so far, at a rate of 551k vaccines per day, according to the Madbouly cabinet. The World Bank puts that number at 50.8 mn, with 19.6 mn (or 19.1% of the population) having received both doses.<\/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\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/health-ministry\/\">Health Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/year-in-review-covid\/\">YEAR IN REVIEW: COVID<\/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=\"554251\" 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=\"554251\">\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\">Year In Review: Tourism<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/2021-the-year-of-a-recovering-tourism-sector\/\">\r\n                            2021: The year of a recovering tourism sector                        <\/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\/27\/2021-the-year-of-a-recovering-tourism-sector\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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A number of key tourism markets lifted covid-19 travel restrictions, including the UK, which took us off the red list <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8abe08a4-aa5a-4489-8dc8-2b8d41fb09bb\">last month<\/a>. Only a month after we were taken off the UK\u2019s red list, bookings to Egypt and Turkey from the UK have soared 400% since our removal from the red list. In July, Russia finally <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c9855c3e-2e9d-45bc-a9d8-e1e15007d087\">lifted its six-year ban<\/a> on direct flights between Russia and Egypt\u2019s Red Sea destinations. Last month we started <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/00cffa89-6746-4a96-8a5f-f95a63746dc6\">welcoming Russian tourists<\/a> into the country once again after Moscow resumed charter flights between Russia and Hurghada and Sharm El Sheikh after<\/p>\n<p><strong>The government continued to give the sector a helping hand<\/strong>, with the central bank extending the Opex program \u2014 an initiative giving operators access to 5% interest loans to cover wages, maintenance expenses, and operating costs \u2014 until 31 December. And in a sign that the sector is indeed in recovery, CBE stimulus for capex was l<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4ee5c934-0983-4e39-9a55-23b0bf570235\">aunched in May<\/a>. Under the program, subsidized loans designed to help tourism companies fund capex can now cover up to 90% of a project\u2019s renovation costs, up from 75% under the ongoing EGP 50 bn tourism support program.<\/p>\n<p><strong>Hotel operators then got a major boost <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7ad1c2ff-9e91-4630-93e0-9b95db5765bb\">back in October<\/a><\/strong><strong>,<\/strong> when the government allowed them to operate at full capacity for the first time in 18 months. Hotels have been operating at 70% capacity since July, when the government eased the 50% limit imposed since June 2020. The Tourism Ministry is also launching a three-year international <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce0fde00-1c5d-42fe-aaa9-8981e813dfcb\">promotional campaign<\/a>, while the Madbouly Cabinet is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fdb65d9f-7a06-4113-80b3-15dcdd925a3f\">looking to hiring tourism operators<\/a> to manage a number of tourism facilities and services at key landmarks.<\/p>\n<p><strong>This has done wonders for our arrival numbers:<\/strong> While we have no recent data on arrivals, around 3.5 mn tourists <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/15f0df47-4379-4fd9-a53b-2b079effa7ad\">visited<\/a> the country during 1H2021, which is around the same number who visited during all of 2020. Arrivals averaged <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f489ef1b-59fa-4096-a0e8-6fe8638608b6\">400k per month<\/a> during the first five months of the year, which is nearly 40% of pre-pandemic figures. At the time, around 60% came from Eastern Europe. And this was before Russia lifted its flight ban.<\/p>\n<p><strong>\u2026Not to mention revenues: <\/strong>While tourism revenues dropped by half during FY2020-21 (which ended last June) to record USD 4.9 bn, according to the CBE\u2019s most recent <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/677e0719-a936-451b-bd5b-cdb8e758d77e\">balance of payments report<\/a>, quarterly data shows that we are nearing pre-pandemic levels. 2Q2021 saw tourism revenues reach USD 1.7 bn, up from USD 305.0 mn in 2Q2020, and up from USD 986.5 mn in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b7042bbd-cedd-44cb-aefb-6ea18b372cd4\">4Q2020<\/a>. Tourism Minister Khaled El Enany had said <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9dfb2aca-9170-4294-8bfe-e91864b1a1f6\">back in May<\/a> that tourism revenues are expected to reach somewhere between USD 6 bn and USD 9 bn in FY2021, up from USD 4.4 bn last year.<\/p>\n<p><strong>Then just as we started to breathe a sigh of relief, along came Omicron: <\/strong>Late November and early December gave us major deja vu with Egypt being put on a number of no-fly lists by countries including <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/51abfd0f-ec95-4485-bfa8-0007e568c0c8\">Canada and Ecuador<\/a> following the emergence of the Omicon variant. Canada has since <a href=\"https:\/\/www.theglobeandmail.com\/politics\/article-canada-lifts-travel-ban-on-10-african-countries-reimposes-covid-19\/\">lifted its ban<\/a>.<\/p>\n<p><strong>But the sector seems to be unaffected (so far): <\/strong>Travel to tourism hotspots were largely <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3aba3ab6-66d2-470d-937b-adec65e50651\">unaffected<\/a> by recently introduced travel restrictions. Average occupancy rate at hotels across the Red Sea \u2014 in Sharm El Sheikh and Hurghada \u2014 are expected to reach 70-75% by the end of 2021, while Sinai hotels could end the year with an average occupancy rate of 55-60%, <a href=\"https:\/\/alborsaanews.com\/2021\/12\/18\/1491708\">Al Borsa<\/a> says, citing unnamed government officials.<\/p>\n<p><strong>And we\u2019re looking to rollout boosters: <\/strong>Registration for <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/721b75c9-2ed0-4f8e-9568-9830ff8c0e91\">booster shots<\/a> for at-risk Egyptians kicked off earlier this month. As of last week a total of 400k qualified individuals <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c8aa6ae3-71f7-4665-bd02-ebba4b1d2958\">were contacted to receive<\/a> their booster shots. The Health Ministry is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d01b3fc9-6917-4576-bbcc-213d8bdd1a01\">aiming<\/a>to administer 23 mn booster shots by 1H2022.<\/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\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/health-ministry\/\">Health Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/year-in-review-tourism\/\">YEAR IN REVIEW: TOURISM<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"554253\" 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=\"554253\">\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\">Year In Review: Macro<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/the-macro-picture-of-our-2021-recovery\/\">\r\n                            The macro picture of our 2021 recovery                        <\/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\/27\/the-macro-picture-of-our-2021-recovery\/\" 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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Loosening international travel restrictions, stabilizing energy markets, and the global vaccine rollout have underpinned a resurgence in economic growth this year. Tourists are returning, exports are back to pre-pandemic levels, and corporate earnings are looking healthier.<\/p>\n<p><strong>It hasn\u2019t been without its challenges though: <\/strong>Supply chain disruptions, surging commodity prices, and concern about an imminent rise in global interest rates have all caused headaches for businesses this year. And the absence of recovery in private sector activity is a cause for concern.<\/p>\n<p><strong>Let\u2019s start with the headline figure: GDP.<\/strong> After being one of the few countries in the world to avoid a recession in 2020, the past 12 months has seen Egypt build on a recovery that began in late 2020. Annual GDP went from 2.9% in 1Q to 7.2% in the second quarter and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ac19890f-00ac-42c9-97b8-ecfccc2d8e99\">9.8% in 3Q<\/a> \u2014 the fastest rate of growth seen in two decades \u2014 partly thanks to improving economic fundamentals and partly due to a favorable base effect from the lower growth rates in 2020. Egypt\u2019s economy is expected to grow at a 6-7% clip in 2Q2021-2022, Planning Minister Hala El Said <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/346bda71-d9f0-42ee-b29d-1a13546e3181\">said this month<\/a>. El Said noted, but we\u2019re still on track to end FY2021-2022 with a GDP growth rate of somewhere between 5.5% and 5.7%.<\/p>\n<p><strong>The hospitality sector has been the crown jewel in Egypt\u2019s economic recovery this year<\/strong>, benefitting from the restoration of flights, the global vaccination rollout, and diminishing public concerns about Egypt\u2019s covid epidemic. Quarterly tourism revenues are now not far from pre-pandemic levels, helping output in the hospitality sector to rise some 430% y-o-y in 2Q and 182% in 3Q from a year earlier, according to data from the <a href=\"https:\/\/mped.gov.eg\/GrossDomestic?lang=en\">Planning Ministry<\/a>. Growth in manufacturing \u2014 the largest sector of the Egyptian economy \u2014 has been more muted but has still seen a rebound, rising 10.5% and 15.2% in the first and second quarters respectively.<\/p>\n<p><strong>But strong economic growth \u2260 a strong private sector recovery:<\/strong> Non-oil private sector activity has been in contraction <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f6572964-fd33-4870-9d6d-f1bb1d364abb\">all year<\/a> even as corporate earnings have recovered from the year-that-must-not-be-named. Firms have continued to suffer from a combination of depressed demand and rising costs, resulting in only three months of growth in the 21 months since March 2020.<\/p>\n<p><strong>Public finances have strengthened:<\/strong> Egypt <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b9b256c9-96d6-4a37-8097-31671ba3016b\">beat its deficit targets<\/a> during the previous fiscal year, narrowing the budget deficit from 8.0% of GDP to 7.4% and generating a 1.5% primary surplus. The Finance Ministry had initially targeted a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f10ef3d-eec0-4f11-a112-c1dee1ee9780\">0.9% primary surplus<\/a> and an overall deficit of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/aa6ab750-42a3-477e-b035-3c7c75ab5dbd\">7.8%<\/a>. It has been a slightly different story so far in FY2021-2022, with the <a href=\"https:\/\/ent.news\/2021\/12\/Section-4-Fiscal-Sector-7.pdf\">most recent figures (pdf)<\/a> showing that the deficit widened y-o-y during the July-October period from 2.7% to 3.1%, and the primary balance fell into a slight deficit.<\/p>\n<p><strong>Tax everything that moves:<\/strong> The Finance Ministry has worked overtime searching for new ways to tax people and businesses this year as it tries to raise revenues and strengthen public finances. The big one as far as resident investors are concerned is the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fc92b9f8-5427-446f-a7dc-2960cc4d17a4\">10% capital gains tax<\/a> on EGX transactions, which the ministry decided to go ahead albeit with <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0d5b64f8-dc18-49ff-8e2b-2a2b09107c25\">a package of sweeteners<\/a> to quieten the industry backlash against the proposal and mitigate any blowback on EGX trading volumes.<\/p>\n<p><strong>Tax policy has focused equally on squeezing money out of the existing tax base \u2014 and on widening it:<\/strong> A <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2913d0ad-bce1-47be-8b4e-7b1388e7a610\">10% levy<\/a> is being placed on all new mobile phones that aren\u2019t SICO-made, while plans are afoot to impose a 2% development fee on durable goods and soft drinks, and a 5-20% tax on the costs of entry to entertainment venues and leisure facilities. Others are being brought into the tax system, including <a href=\"https:\/\/egyptindependent.com\/egypts-tax-authority-calls-on-private-tutors-to-pay-their-taxes\/\">illegal private tutors<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ccf35d8e-673e-45ba-b632-634cf3767612\">online content creators<\/a>. The latter is also being asked to charge and remit VAT on ad revenue made through online platforms such as Google. New <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9bf7988d-19f6-45a6-ada1-65d7c23ec723\">customs<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bd3ab8f6-e6bc-4562-9904-eb485b5cb217\">e-invoicing<\/a> systems being rolled out aim to make it much harder for tax cheats to avoid paying the state its due.<\/p>\n<p><strong>Speaking of rising prices:<\/strong> Egyptian consumer prices haven\u2019t been immune from rising commodity prices abroad, which have pushed up the headline rate of inflation, particularly in the second half of the year when rising food and energy costs drove the rate to a 20-month high of 6.6%. Inflationary pressures seem to have so far been contained, with consumer prices never rising above the lower bound of the central bank\u2019s 7% (\u00b12%) target range and the headline rate currently averaging 5.5% for the year.<\/p>\n<p><strong>Rates have remained unchanged:<\/strong> The Central Bank of Egypt has kept interest rates on hold since November 2020, prioritizing foreign inflows and an inflation hedge over further economic stimulus.<\/p>\n<p><strong>And this has been good for the carry trade:<\/strong> Egypt has maintained the world\u2019s highest real interest rate through the year, ensuring a steady stream of portfolio inflows into local debt by investors searching for yield in a world of historically-low rates. Portfolio investments also turned positive in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/677e0719-a936-451b-bd5b-cdb8e758d77e\">FY2020-21<\/a>, recording a net inflow of USD 18.7 bn this year, compared to a net outflow of USD 7.3 bn in the FY2019-20. Total investment in Egyptian debt hit <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/77f1fef1-7022-4da7-a44e-d3ae01256eac\">a record USD 33 bn<\/a> in August, though since then we haven\u2019t heard anything from the Finance Ministry or the central bank, giving us little indication of how <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/01ff5ec8-6224-4431-8796-fcb03e034f26\">the beginning of the Fed taper<\/a> in November has impacted inflows.<\/p>\n<p><strong>Foreign direct investment, on the other hand, has slipped:<\/strong> After showing signs of recovery at the tail-end of last year, FDI flows went into reverse during the first half of the year, falling to a mere USD 427 mn in 2Q, down two-thirds from 2Q2020 (aka the lockdown quarter) and the lowest quarterly figure since 4Q2011. The central bank is yet to publish the balance of payments figures for the third quarter.<\/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\/earnings\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gdp\/\">GDP<\/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\/policy\/\">policy<\/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\/year-in-review-macro\/\">YEAR IN REVIEW: MACRO<\/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=\"554255\" 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=\"554255\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/554255\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554255\" class=\"content-area-description single-story post-554255 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/www.sodic.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/Tactical-Male-1600WX800H-for-web.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\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=\"554256\" 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=\"554256\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/last-nights-talk-shows-toshka-revived\/\">\r\n                            Last Night\u2019s Talk Shows: Toshka, revived                        <\/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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     <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Last+Night%E2%80%99s+Talk+Shows%3A+Toshka%2C+revived+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F27%2Flast-nights-talk-shows-toshka-revived%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\/27\/last-nights-talk-shows-toshka-revived\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554256\" class=\"content-area-description single-story post-554256 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-abdel-fattah-el-sisi tag-agriculture tag-enterpriseam tag-infrastructure-watch tag-last-nights-talk-shows 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-09\"><\/a> <strong>The talking heads were focused on the revival of the Toshka megaproject as<\/strong><strong> President Abdel<\/strong><strong> Fattah El Sisi inaugurated the first 100k feddan phase <\/strong>of the land reclamation project yesterday. The project, which was initially conceived during Mubarak\u2019s presidency, had already taken some EGP 6 bn of infrastructure investments from state coffers before being scrapped for not being economically viable, Kelma Akhira\u2019s Lamees El Hadidi (<a href=\"https:\/\/www.youtube.com\/watch?v=-BOZqdC4ff8\">watch, runtime: 4:38<\/a>) and El Hekaya\u2019s Amr Adib (<a href=\"https:\/\/www.youtube.com\/watch?v=j8t7O54mWok\">watch, runtime: 6:38<\/a>) noted.<\/p>\n<p><strong>Both Lamees and Adib lauded the Sisi administration for reviving the project<\/strong> and making use of the sunken cost from previous administrations. The story was also at the top of the agenda for Ala Mas\u2019ouleety\u2019s Ahmed Moussa (<a href=\"https:\/\/www.facebook.com\/watch\/live\/?ref=watch_permalink&v=1019120902150936\">watch, runtime: 28:22<\/a>) and Al Hayah Al Youm\u2019s Mohamed Sherdy (<a href=\"https:\/\/www.youtube.com\/watch?v=WtoPMf4nDP0\">watch, runtime: 1:31<\/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\/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\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"554257\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" 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data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"554258\" 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=\"554258\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/554258\/\">\r\n                                                    <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta 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type-post status-publish format-standard hentry category-egypt-in-the-news wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Nothing to see here, ladies and gents:<\/strong> Christmas weekend was wonderfully slow for Egypt in the foreign press.<\/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=\"554259\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"554260\" 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=\"554260\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/what-the-markets-are-doing-on-27-december-2021\/\">\r\n                            What the markets are doing on 27 December 2021                        <\/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\/27\/what-the-markets-are-doing-on-27-december-2021\/\" 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<a href=\"https:\/\/api.whatsapp.com\/send?text=What+the+markets+are+doing+on+27+December+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F12%2F27%2Fwhat-the-markets-are-doing-on-27-december-2021%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\/27\/what-the-markets-are-doing-on-27-december-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554260\" class=\"content-area-description single-story post-554260 post type-post status-publish format-standard hentry category-planet-finance tag-capital-markets tag-egx tag-enterpriseam tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 rose 0.9% yesterday<\/strong> on turnover of EGP 1.14 bn (15.2% below the 90-day average). Foreign investors were net sellers. The index is up 9.3% YTD.<\/p><p><strong>In the green: <\/strong>Egyptian Company for Tourism Resorts (+4.2%), CIRA (+3.9%) and Orascom Development Egypt (+3.5%).<\/p><p><strong>In the red: <\/strong>Oriental Weavers (-3.2%), Egypt Kuwait Holding (USD) (-2.0%) and Speed Medical (-1.8%).<\/p><p><strong>Asian markets are mixed this morning. <\/strong>Markets in Hong Kong and Australia are closed for Christmas. Shares are up slightly in Shanghai while the Nikkei and Seoul\u2019s Kospi are both lightly in the red.<\/p><p><strong>It\u2019s a crazy patchwork of open and closed markets this morning in Europe and North <\/strong><strong>America. <\/strong>The Nasdaq and New York Stock Exchange are both back from Christmas holidays today (futures suggest they\u2019ll open in the green), as are Paris and Frankfurt. The London Stock Exchange is closed today and tomorrow, as is the Toronto Stock Exchange.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>11,856<\/p>\n<\/td>\n<td>\n<p>+0.9% (YTD: +9.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>11,168<\/p>\n<\/td>\n<td>\n<p>-0.9% (YTD: +28.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>8,394<\/p>\n<\/td>\n<td>\n<p>-0.4% (YTD: +66.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,159<\/p>\n<\/td>\n<td>\n<p>+0.5% (YTD: +26.8%)<\/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>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,726<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: +25.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,372<\/p>\n<\/td>\n<td>\n<p>- (YTD: +14.11%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 73.27<\/p>\n<\/td>\n<td>\n<p>-0.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 3.97<\/p>\n<\/td>\n<td>\n<p>+6.46%<\/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>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,808.80<\/p>\n<\/td>\n<td>\n<p>-0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 50,807.26<\/p>\n<\/td>\n<td>\n<p>+0.3%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\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\/capital-markets\/\">capital markets<\/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\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section blackboard wp-block-group issue-section\" id=\"554261\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27466.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into education in Egypt, from K-12 to post-secondary.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27480.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Monday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/blackboard\/\">\r\n                            Read Blackboard                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">15<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/a-look-at-the-books-shaping-education-in-2021\/\">\r\n                            A look at the books shaping education in 2021<\/a>\r\n                        <\/h3>\r\n                        \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/blackboards\/a-look-at-the-books-shaping-education-in-2021\/\" 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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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/499.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"499.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/499.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/12\/499.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-554261\" class=\"content-area-description post-554261 blackboard type-blackboard status-publish has-post-thumbnail hentry tag-edtech tag-education tag-education-trends tag-enterprise-blackboard tag-enterpriseam tag-special-education tag-stem 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-10\"><\/a> <strong>The 2021 books in education review: <\/strong>What will our schools look like in the future? What skills are paramount for the students of tomorrow? And what investments do we need to make today to ensure that we stay relevant? These are all questions that administrators, teachers, employers and parents will likely continue to ask as changes take place in just about every other sector of work and play.<\/p>\n<p><strong>Today, we review some of the books released this year, spotlighting some of the most recent trends in learning and teaching.<\/strong> The themes on author\u2019s minds this year appear to center on three aspects: putting education more in the hands of students; the importance of emotional and mental well being for that process; and of course, tech-enabled learning.<\/p>\n<p><strong>All of which bring us back to the question of how education can and is evolving, <\/strong>especially in the covid era where education was fundamentally altered. <a href=\"https:\/\/www.amazon.com\/dp\/1071802089?tag=uuid10-20\">The Education We Need for a Future We Can\u2032t Predict<\/a> encourages readers to reassess beliefs about learning and schooling by looking at successful case studies of schools and the strategies that they utilized to improve performance in education. <a href=\"https:\/\/www.amazon.com\/Future-Education-Exciting-Innovative-Learning\/dp\/B091CFFXZZ\/ref=pd_sbs_1\/138-4340800-9733820?pd_rd_w=d7kwz&pf_rd_p=3676f086-9496-4fd7-8490-77cf7f43f846&pf_rd_r=7GEMN5SWW4MNE2V7K9RB&pd_rd_r=ebbeb521-5edb-46a5-8da9-109a58b3af25&pd_rd_wg=ZTRgx&pd_rd_i=B091CFFXZZ&psc=1\">The Future of Education: How to Evolve \u2018Old Schools\u2019 to Exciting & Innovative Learning Hubs<\/a> offers a roadmap for how schools can and should be at the forefront of change in an ever-evolving world, arguing that most schools are not the spaces of innovation that they should be.<\/p>\n<p><strong>The burden is shifting to learners: <\/strong><a href=\"https:\/\/www.amazon.com\/Evolving-Education-Shifting-Learner-Centered-Paradigm-ebook\/dp\/B09CCMNSF8\">Evolving Education: Shifting to a Learner-Centered Paradigm<\/a> looks at why it\u2019s paramount to transition to a learner-centered teaching model by prioritizing social and emotional wellbeing and giving learners the tools, technologies and learning science to put learners in the drivers\u2019 seat. <a href=\"https:\/\/www.amazon.com\/dp\/0593329732?tag=uuid10-20\">Uncommon Sense Teaching: Practical Insights in Brain Science to Help Students Learn<\/a> takes a deep dive into how students learn and helps teachers examine whether or not their approaches are inclusive, in an effort to ensure that their students are always engaged.<\/p>\n<p><strong>A path charted by online learning:<\/strong> <a href=\"https:\/\/www.amazon.com\/dp\/168125476X?tag=uuid10-20\">Reimagining Special Education<\/a> draws on lessons learned from distance learning during covid lockdowns to create environments and routines that suit different learning styles. With tools and strategies for teachers and administrators, this is a practical guidebook that can help teachers accommodate special education learners and support all learners.<\/p>\n<p><strong>Student-centered learning is key in higher education as well. <\/strong>Half of all students who set out to do a PhD will not complete it, according to <a href=\"https:\/\/jhupbooks.press.jhu.edu\/title\/new-phd\">The New PhD<\/a>, while 50% of those who do complete it will never secure full-time academic positions. The New PhD argues that today\u2019s graduate schools use outdated techniques that do not serve all learners equally to prepare students for jobs that just don\u2019t exist. Authors Leonard Cassuto and Robert Weisbuch argue that graduate school must better prepare students for jobs outside of the classroom, spotlighting on-campus innovations that are already happening \u2014 as well as charting some of the failures. The authors argue that graduate education should take less time to complete, expand career opportunities and be more socially dynamic, among other things.<\/p>\n<p><strong>Putting the onus on students will help with a very real job market need: <\/strong>That\u2019s the perpetual question, and the answer almost always revolves around job market needs. A recent <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0b4de7f5-92f8-4309-8217-33e7a7e86949\">study<\/a> out of Nexford University found that 51% of Egyptian employers think that at least 20% of their white collar employees need upskilling, and only last year, the WEF\u2019s <a href=\"https:\/\/www.weforum.org\/agenda\/2020\/10\/top-10-work-skills-of-tomorrow-how-long-it-takes-to-learn-them\/\">Jobs Reset Summit<\/a> reported that 50% of employees globally would need reskilling by 2025, with critical thinking and problem solving topping the list of required skills.<\/p>\n<p><strong>Social and emotional development continue to be central to learning: <\/strong>One of the most important post-covid-lockdown undertakings of teachers and administrators has been addressing the <a href=\"https:\/\/www.cdc.gov\/mentalhealth\/stress-coping\/parental-resources\/early-childhood\/index.html\">gaps<\/a> in students\u2019 social and emotional development created by social distancing and lockdowns. In <a href=\"https:\/\/www.amazon.com\/dp\/1799867285?tag=uuid10-20\">Leading Schools With Social, Emotional, and Academic Development (SEAD)<\/a>, the authors take a closer look at the resources that educators are lacking in their efforts to ensure that SEAD is being delivered in classrooms and provides frameworks to embed SEAD into learning systems to improve academic achievement.<\/p>\n<p><strong>And then there\u2019s tech, starting with how online and machine-based learning are here to stay. <\/strong><a href=\"https:\/\/www.amazon.com\/dp\/1948334313?tag=uuid10-20\">UDL and Blended Learning: Thriving in Flexible Learning Landscapes<\/a> is a guidebook for teachers and administrators on how to adopt universal design for learning (UDL) and hybrid learning approaches to meet the needs of learners with different needs in different environments.<\/p>\n<p><strong>Tech is the new literacy: <\/strong>Edtech and innovation have been two of the top trends in education in Egypt in 2021 \u2014 no surprise given the rude disruption that covid-induced lockdowns brought to classroom learning over the past two years. As we noted <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b29c8c7c-cb1b-4536-b132-4a0b9edcd20b\">last week<\/a>, interest in edtech only seems to be accelerating as K-12 and university students return to in-person classroom learning, with innovation and STEM skills topping priorities for educators and institutions. <a href=\"https:\/\/www.amazon.com\/Read-Write-Code-Friendly-Introduction\/dp\/154451798X\">Read Write Code: A Friendly Introduction to the World of Coding, and Why It\u2019s the New Literacy<\/a> by Jeremy Keeshin opens educators\u2019 eyes on why coding is the new literacy. Keeshin\u2019s approach is suited to the uninitiated, walking teachers, administrators and parents through the basics of programming, AI, the internet, data, apps and cybersecurity, among other things.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top education stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>The private sector really likes higher education:<\/strong> Pan-African private sector higher education operator Honoris United Universities <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fc453b39-a1d9-4967-8f81-fb5280b47582\">signed<\/a> a transaction to acquire Merit University in New Sohag City, marking Honoris\u2019 entry into Egypt.<\/li>\n<li><strong>The Sovereign Fund of Egypt and Mobica <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5f97fd48-1c37-42d6-bd9d-1b413ff605e7\">broke ground<\/a><\/strong><strong> on two schools in the <\/strong><strong>Cosmic Village<\/strong>, a defunct state asset on a prime piece of real estate spanning 190 acres in Sixth of October city.<\/li>\n<li><strong>Weather forces (excessive?) school closures:<\/strong> Classes were suspended for several days in a handful of governorates due to bad weather, leading some to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d84ff32d-94f2-4c95-9c7d-ec5d4ab5d358\">voice concerns<\/a> on how the closures will affect students.<\/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\/edtech\/\">edtech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education-trends\/\">education trends<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/special-education\/\">special education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/stem\/\">STEM<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"554263\" 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\/27\/554263\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-554263\" class=\"content-area-description single-story post-554263 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>31 December (Friday): Deadline for property owners to pay second installment of real estate taxes without late fees.<\/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>Early 2022: Results <a href=\"https:\/\/www.elwatannews.com\/news\/details\/5876314\">to be announced<\/a> for the second round of the state\u2019s gold and precious metals auction.<\/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>1Q2022: Waste collection startup Bekia plans to expand to the UAE and Saudi Arabia.<\/p>\n<p>1Q2022: Macro Group intends to IPO on the EGX.<\/p>\n<p>1H2022: Target date for IDH to close its acquisition of 50% of Islamabad Diagnostic Center.<\/p>\n<p>1H2022: The World Economic Forum annual meeting, location TBD.<\/p>\n<p>1H2022: e-Finance\u2019s digital healthcare service platform, eHealth, will launch its services.<\/p>\n<p>1H2022: The government will respond to private companies\u2019 bids to build desalination plants.<\/p>\n<p>January 2022: Tenth of Ramadan dry port tender to be launched.<\/p>\n<p>January 2022: NilePreneurs is launching a <a href=\"https:\/\/bit.ly\/30M5x6Q\">training program<\/a> that aims to increase the industrial capacity of SMEs in the automobile manufacturing, home appliances and engineering industries.<\/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>Second half of January 2022: Egypt <a href=\"https:\/\/alborsaanews.com\/2021\/11\/23\/1483989\">will host<\/a> the Egyptian-Bahraini Joint Committee.<\/p>\n<p>Second half of January 2022: <a href=\"https:\/\/alborsaanews.com\/2021\/12\/20\/1492507\">Regulations<\/a> for installing EV charging stations will be published.<\/p>\n<p>16 January (Sunday): SODIC shareholders <a href=\"https:\/\/www.egx.com.eg\/ar\/BulletinNews.aspx?BCODE=272510&All=\">will vote<\/a> on the company\u2019s new board of directors at an extraordinary general meeting.<\/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>End of January 2022: The Egyptian-Romanian business forum will take place with the aim of strengthening joint investment relations.<\/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>Mid-February 2022: End of grace period to comply with new minimum wage for firms who sent in exemption requests.<\/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>15-18 June 2022: <a href=\"https:\/\/forumspb.com\/en\/\">St. Petersburg International Economic Forum<\/a> (SPIEF), St. Petersburg.<\/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>End of 1H2022: Emirati industrial company M Glory Holding and the Military Production Ministry will begin the mass production of dual fuel pickup trucks that can run on natural gas.<\/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>End of 2022: e-Aswaaq\u2019s tourism platform will complete the roll out of its ticketing and online booking portal across Egypt.<\/p>\n<p><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":554233,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-554232","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"ea09f163-fbcc-4180-aadb-d869b48da7b0","teaser":"","photo_url":"https:\/\/ent.news\/2021\/12\/485.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>Macro Group\u2019s IPO is back on and CI Capital now owns 23% of Cleopatra Hospitals - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/macro-groups-ipo-is-back-on-and-ci-capital-now-owns-23-of-cleopatra-hospitals\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Macro Group\u2019s IPO is back on and CI Capital now owns 23% of Cleopatra Hospitals\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/macro-groups-ipo-is-back-on-and-ci-capital-now-owns-23-of-cleopatra-hospitals\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T00:26:25+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\/485.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\/macro-groups-ipo-is-back-on-and-ci-capital-now-owns-23-of-cleopatra-hospitals\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/macro-groups-ipo-is-back-on-and-ci-capital-now-owns-23-of-cleopatra-hospitals\/\",\"name\":\"Macro Group\u2019s IPO is back on and CI Capital now owns 23% of Cleopatra Hospitals - 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