{"id":555138,"date":"2021-11-03T04:00:12","date_gmt":"2021-11-03T04:00:12","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=555138"},"modified":"2025-12-16T00:47:28","modified_gmt":"2025-12-16T00:47:28","slug":"egypt-not-on-board-with-yesterdays-methane-deforestation-cop26-pledges","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-not-on-board-with-yesterdays-methane-deforestation-cop26-pledges\/","title":{"rendered":"Egypt not on board with yesterday\u2019s methane + deforestation COP26 pledges"},"content":{"rendered":"<section id=\"555140\" 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=\"555140\">\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\/11\/03\/this-morning-egypt-hasnt-yet-joined-more-than-100-countries-signing-methane-reduction-and-deforestation-pledges\/\">\r\n                            THIS MORNING: Egypt hasn\u2019t yet joined more than 100 countries signing methane reduction and deforestation pledges                        <\/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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href=\"https:\/\/api.whatsapp.com\/send?text=THIS+MORNING%3A+Egypt+hasn%E2%80%99t+yet+joined+more+than+100+countries+signing+methane+reduction+and+deforestation+pledges+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F03%2Fthis-morning-egypt-hasnt-yet-joined-more-than-100-countries-signing-methane-reduction-and-deforestation-pledges%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\/11\/03\/this-morning-egypt-hasnt-yet-joined-more-than-100-countries-signing-methane-reduction-and-deforestation-pledges\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555140\" class=\"content-area-description single-story post-555140 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-energy tag-enterpriseam tag-interest-rates tag-joe-biden tag-lebanon tag-media tag-monetary-policy tag-oil-and-gas tag-opec tag-pmi tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>It\u2019s a brisk news day here in Omm El Donia<\/strong>, where the big story is that we have not signed onto two landmark agreements coming out of COP26 in Glasgow.<\/p><p><strong>More than 100 countries have signed methane<\/strong><strong> reduction, <\/strong><strong>deforestation pledges \u2014 but Egypt isn\u2019t one of them <\/strong>as COP26 continues to dominate the global conversation this morning. Some 100 world leaders yesterday committed to both <a href=\"https:\/\/ukcop26.org\/glasgow-leaders-declaration-on-forests-and-land-use\/\">end deforestation by 2030 and improve land use<\/a> while also <a href=\"https:\/\/ec.europa.eu\/commission\/presscorner\/detail\/en\/statement_21_5766\">reducing methane emissio<\/a><a href=\"https:\/\/ec.europa.eu\/commission\/presscorner\/detail\/en\/statement_21_5766\">ns by at least 30%<\/a> by the end of the decade.<\/p><p><strong>Egypt hasn\u2019t signed onto either of the initiatives<\/strong>, nor have Saudi Arabia, Oman or Qatar. The United Arab Emirates, however, has joined both, as has China.<\/p><p><strong>SIGN OF THE TIMES #1- Big Finance has figured out there is money (and headlines) to be<\/strong> <strong>made in Glasgow: <\/strong>\u201cThe global finance industry, its regulators and investors pledge tns in funding to reduce carbon emissions,\u201d the <a href=\"https:\/\/www.wsj.com\/articles\/financial-system-makes-big-promises-on-climate-change-at-cop26-summit-11635897675\">Wall Street Journal<\/a> notes. You can expect ESG to be all the more important going forward: \u201cThe funding can take the form of bank loans and investments by venture capitalists, private-equity firms, mutual funds, endowments and other big investors that buy stocks and bonds. These would all be used to shift funds toward investments that help lower carbon emissions, while still earning a profit.\u201d<\/p><p><strong>Also on the international front pages this morning:<\/strong><\/p><ul>\n<li><strong>State of emergency in Ethiopia:<\/strong> Ethiopia has declared a six-month state of emergency amid growing fears that Tigray rebels were advancing closer to Addis Ababa. The government is urging people living in the capital to arm themselves and protect their neighborhoods after rebel fighters captured two towns on a main route in the city. (<a href=\"https:\/\/www.reuters.com\/world\/africa\/addis-ababa-government-urges-residents-register-arms-media-2021-11-02\/\">Reuters<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-11-02\/ethiopia-government-tells-residents-of-capital-to-arm-themselves?srnd=premium\">Bloomberg<\/a> | <a href=\"https:\/\/www.ft.com\/content\/fd336b4b-bd74-453f-8c68-96ab516cb11a\">FT<\/a>)<\/li>\n<li><strong>Facebook is trying to repair its reputational damage<\/strong>, pledging to shut down its facial recognition system and wipe the facial data of more than 1 bn people. (<a href=\"https:\/\/apnews.com\/article\/technology-business-85a21a8079a757f2ff99972f1858f7ce\">AP<\/a> | <a href=\"https:\/\/www.reuters.com\/technology\/facebook-will-shut-down-facial-recognition-system-2021-11-02\/\">Reuters<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/facebook-to-shut-down-facial-recognition-in-photos-videos-11635874174?mod=hp_lead_pos7\">WSJ<\/a>)<\/li>\n<\/ul><p><strong>SIGN OF THE TIMES #2- Heading to the US of A for Christmas? <\/strong>You may want to start practicing meditation or consider opting for a more chemical form of stress-management therapy. A series of US flight cancellations in the run-up to the holiday season has the Financial Times asking on its front page <a href=\"https:\/\/www.ft.com\/content\/9ea2809d-52fa-45bf-b855-e71a21906000\">whether a \u201choliday meltdown\u201d is in the cards for US airlines<\/a>. Among the concerns: Staff shortages thanks to a very tight labor market.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/MicrosoftMesh_1600px.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>Things that make us go ?: Microsoft is taking on <\/strong><s>Facebook<\/s><strong> Meta by launching the <\/strong><strong>\u201cmetaverse\u201d on Teams. <\/strong>Coming in the next six to eight months, Microsoft Mesh will allow you to appear in your Teams calls as a cartoon avatar and to \u201cvisit virtual workspaces\u201d that could include literal replicas of your physical office. Dear God could we please not? Microsoft\u2019s homepage for the technology is <a href=\"https:\/\/www.microsoft.com\/en-us\/mesh\">here<\/a> and <a href=\"https:\/\/www.ft.com\/content\/62d4652f-faec-4ef7-b642-1ae7b4262563\">the FT<\/a> is giving the story plenty of ink.<\/p><p><strong>WHAT\u2019S HAPPENING TODAY- <\/strong><\/p><p><strong>It\u2019s PMI day:<\/strong> Purchasing managers\u2019 indexes for Egypt, Saudi Arabia and the UAE will land today, just a few minutes after we hit \u201csend\u201d on this morning\u2019s issue (<a href=\"https:\/\/www.markiteconomics.com\/Public\/Release\/PressReleases\">tap or click here to see the page<\/a>). Activity in Egypt\u2019s non-oil private sector <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bbab5e06-2938-4efe-a43d-7db63773f9e5\">hit a four-month lo<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bbab5e06-2938-4efe-a43d-7db63773f9e5\">w<\/a> in September as output and new orders continued to contract. On the upside, firms reported a record level of confidence in upcoming business activity, while employment rose for the third consecutive month.<\/p><p><strong>The <\/strong><strong><a href=\"https:\/\/vc4a.com\/aesis\/africa-early-stage-investor-summit-2021\/\">Africa Early Stage Investors Summit<\/a><\/strong><strong> kicks off tonight<\/strong>, starting with an investor meetup sponsored by the Cairo Angels at Consoleya in Downtown Cairo. The summit will continue on Thursday and Friday with virtual sessions featuring speakers from angel networks, VC funds, accelerators, and the public sector, among others.<\/p><p><strong>It\u2019<\/strong><strong>s the final day of the <\/strong><strong><a href=\"https:\/\/www.egypt-energy.com\/en\/home.html\">Egypt Energy exhibition<\/a><\/strong><strong>:<\/strong> The three-day event will include speeches and discussions on the global energy outlook, the future of clean energy, financing green economy projects, and the future of connectivity with network management capabilities.<\/p><p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>FURTHER AFIELD-<\/strong> <strong>It\u2019s decision day at the Fed:<\/strong> The US Federal Reserve\u2019s Open Market Committee will announce later today the outcome of its two-day meeting. The emerging consensus is that the Fed will announce it is winding down its USD 120 bn a month asset purchase program instituted at the start of the pandemic to cushion the economy. The central bank is facing somewhat of a catch-22 in coping with stagflation: Keeping rates low would allow the recovery to continue, but prices could spiral \u2014 while tightening would quell inflation but stifle demand and provoke market volatility.<\/p><p><strong>Emerging markets including Egypt will be watching the Fed\u2019s meeting closely <\/strong>\u2014 rising US rates will put pressure on inflows into EM debt.<\/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>HAPPENING TOMORROW<\/strong><strong>-<\/strong> <strong>Oil markets brace for a rocky ride ahead of OPEC+ meet:<\/strong> Crude futures for December are down this morning ahead of the meeting of OPEC+ producers, who are coming under pressure from the US, Japan and other global buyers to boost output and stifle the recent rally that has seen prices reach new three-year highs. Brent was down 1.5% and US crude 1.8% ahead of dispatch this morning after US President Joe Biden reiterated calls to increase production beyond the 400k bbl\/d that producers have agreed to add next month.<\/p><p><strong>POUR ONE OUT- Lebanon\u2019s Daily Star has closed its doors: <\/strong>Lebanon\u2019s oldest English-language daily newspaper has been forced to shut its doors, following years of financial struggle, <a href=\"https:\/\/apnews.com\/article\/business-media-middle-east-social-media-newspapers-d4484d86e699eb325fc0657427aba1f9\">the<\/a><a href=\"https:\/\/apnews.com\/article\/business-media-middle-east-social-media-newspapers-d4484d86e699eb325fc0657427aba1f9\">Associated Press<\/a> reports. The Daily Star joins a string of landmark Lebanese publications forced to shut in recent years, as economic turmoil and the rise of digital media take their toll on traditional newspapers that in decades past had led the region. Other Lebanese media organizations, including As-Safir and the Hariri family-owned Al-Mustaqbal, have seen cuts to salaries and staff numbers or shut down altogether.<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>Other key news triggers in November:<\/strong><\/p><ul>\n<li><strong>Foreign reserves:<\/strong> October\u2019s foreign reserves figures will be out sometime this week;<\/li>\n<li><strong>Inflation:<\/strong> Inflation figures for October will be released next Wednesday, 10 November;<\/li>\n<li><strong>There\u2019s no MPC meeting this month <\/strong>\u2014 the central bank will <a href=\"https:\/\/www.cbe.org.eg\/en\/MonetaryPolicy\/Pages\/MPCMeetingSchedule.aspx\">next meet on 16 December<\/a> to review interest rates for the final time this year. The CBE has yet to issue its MPC calendar for 2022.<\/li>\n<\/ul><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\/2020\/1\/Web-view-01.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, urban development and social infrastructure such as health and education.<\/p><p><strong>In today\u2019s issue: <\/strong>Natural gas price hikes announced at the start of the week will see heavy industrial users pay 28% more for the fuel, bringing prices back to where they were before the government enacted industry-wide price cuts to help factories weather the covid crisis. The price decision has had a disparate impact on different heavy-use industries, with some reporting marginal increases in expected production costs and others appearing to be more worried. We look at how each industry views the impact of the decision.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/joe-biden\/\">Joe Biden<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lebanon\/\">Lebanon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n           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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=\"555141\" 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=\"555141\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/555141\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555141\" class=\"content-area-description single-story post-555141 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:\/\/somabay.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/SOMA-ENTERPRISE-DINEF-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=\"555142\" 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=\"555142\">\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\">Capital markets<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/lets-skip-the-formalities-and-just-spac\/\">\r\n                            Let\u2019s skip the formalities and just SPAC                        <\/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\/11\/03\/lets-skip-the-formalities-and-just-spac\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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href=\"https:\/\/api.whatsapp.com\/send?text=Let%E2%80%99s+skip+the+formalities+and+just+SPAC+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F03%2Flets-skip-the-formalities-and-just-spac%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\/11\/03\/lets-skip-the-formalities-and-just-spac\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/302.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"555143\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/lets-skip-the-formalities-and-just-spac\/302-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/302.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"302.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/302.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/302.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555142\" class=\"content-area-description single-story post-555142 post type-post status-publish format-standard has-post-thumbnail hentry category-capital-markets tag-capital-markets tag-egx tag-enterpriseam tag-financial-regulatory-authority tag-fintech tag-ipo-watch tag-mohamed-farid tag-regulation tag-spacs tag-startups wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Two companies are already eyeing setting up SPACs in Egypt to acquire and list<\/strong><strong> fintech players<\/strong>, Zulficar & Partners founding partner Anwar Zeidan told Enterprise, confirming a story that was originally published in <a href=\"https:\/\/bit.ly\/3pTIy3U\">Al Mal<\/a>. The companies are both non-banking financial services (NBFS) players, one of which is Egyptian, while the other is international with stakes in several Egyptian companies, according to Zeidan, who declined to name them. These companies are currently in talks with the Financial Regulatory Authority (FRA) about the steps they would need to take once SPACs are formally allowed.<\/p>\n<p><strong>That was fast: <\/strong>The news comes one day after the FRA <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a464bafe-21f2-4b7e-a02e-63708d29114c\">greenlit<\/a> a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ee5aece4-2567-475a-b5a5-26426d104938\">plan<\/a> spearheaded by EGX boss Mohamed Farid to allow SPACs in Egypt. The blank-check companies would be subject to the same regulations as venture capital firms under the Capital Markets Act, with listing and delisting rules still to be decided by the market regulator.<\/p>\n<p><strong>There has been interest since at least 2Q: <\/strong>The international firm reached out to Zulficar to inquire about listing SPACs in Egypt around five months ago, Zeidan told us. Since then, the law firm has been discussing the potential introduction of SPACs with officials at the FRA and EGX, he said.<\/p>\n<p><strong>It all began with Swvl deciding to go public: <\/strong>Swvl\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bfbf590f-581d-4b49-96b3-3ac733bb7fe3\">announcement<\/a> that it will list on the Nasdaq via a SPAC merger earlier this year seemed to have triggered interest among policymakers here. The idea was first publicly disclosed after Prime Minister Moustafa Madbouly <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ee5aece4-2567-475a-b5a5-26426d104938\">met with<\/a> the Egyptian transport app and a number of other startups a few days after the merger with US Queen\u2019s Gambit Growth Capital was finalized.<\/p>\n<p><strong>How would Egyptian SPACs work, again?<\/strong> SPACs would be set up with an initial capital of EGP 5 mn, similar to a VC firm in Egypt, says Zeidan. SPACS would work to get institutional investors to buy in before floating on a stock exchange and placing the funds raised into an interest-bearing trust account for a maximum of two years while it looks for a company to acquire or merge with.<\/p>\n<p><strong>And what happens next?<\/strong> The proposed acquisition goes to a general assembly meeting, where shareholders weigh in and are given the option of exiting the SPAC and getting a drawback on their funds. The remaining shareholders then give the acquisition their blessing and the process moves forward. In the event that the SPAC fails to close an acquisition within the two-year window, it is liquidated and the funds are given back to investors along with returns from the fixed-income investments.<\/p>\n<p><strong>Still need a refresher?<\/strong> We have a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a6ab3251-641a-4e2c-aa00-6b8486d10c68\">full primer<\/a> on why \u2014 and how \u2014 SPACs work in Western markets.<\/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\/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\/financial-regulatory-authority\/\">Financial Regulatory Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-farid\/\">Mohamed Farid<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/regulation\/\">regulation<\/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\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555144\" 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=\"555144\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/egypt-is-up-for-a-slice-of-blackrocks-new-climate-focused-em-infrastructure-fund\/\">\r\n                            Egypt is up for a slice of BlackRock\u2019s new climate-focused EM infrastructure fund                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/egypt-is-up-for-a-slice-of-blackrocks-new-climate-focused-em-infrastructure-fund\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/egypt-is-up-for-a-slice-of-blackrocks-new-climate-focused-em-infrastructure-fund\/')\">\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\/11\/03\/egypt-is-up-for-a-slice-of-blackrocks-new-climate-focused-em-infrastructure-fund\/\">\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=Egypt is up for a slice of BlackRock\u2019s new climate-focused EM infrastructure fund&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/egypt-is-up-for-a-slice-of-blackrocks-new-climate-focused-em-infrastructure-fund\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/egypt-is-up-for-a-slice-of-blackrocks-new-climate-focused-em-infrastructure-fund\/&title=Egypt is up for a slice of BlackRock\u2019s new climate-focused EM infrastructure fund\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+is+up+for+a+slice+of+BlackRock%E2%80%99s+new+climate-focused+EM+infrastructure+fund+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F03%2Fegypt-is-up-for-a-slice-of-blackrocks-new-climate-focused-em-infrastructure-fund%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/egypt-is-up-for-a-slice-of-blackrocks-new-climate-focused-em-infrastructure-fund\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/303.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"555145\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/egypt-is-up-for-a-slice-of-blackrocks-new-climate-focused-em-infrastructure-fund\/303-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/303.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"303.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/303.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/303.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555144\" class=\"content-area-description single-story post-555144 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-blackrock tag-climate-change tag-emerging-markets tag-energy tag-enterpriseam tag-investment-watch tag-renewable-energy 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>Egypt is among the \u201cattractive\u201d emerging markets in which BlackRock could be investing <\/strong><strong>through its new USD 673 mn climate-focused infrastructure fund<\/strong>, BlackRock Alternative Investments\u2019 global head of renewable powers David Giordano tells <a href=\"https:\/\/www.reuters.com\/business\/sustainable-business\/exclusive-blackrock-raises-673-mln-climate-focused-infrastructure-fund-2021-11-02\/\">Reuters<\/a>. The new Climate Finance Partnership fund \u2014 backed by the French, German, and Japanese governments \u2014 will invest in renewable energy and other climate-focused projects across emerging markets.<\/p>\n<p><strong>Who\u2019s in, how much will it invest per transaction:<\/strong> The fund\u2019s average equity investment \u2014 or \u201cticket size\u201d to the cognoscenti \u2014 will likely be in the USD 25-75 mn range, according to Giordano. The 22 LPs include TotalEnergies, Axa and Dai-Ichi Life. Their commitments saw the fund close well ahead of its USD 500 mn fundraising target. The fund is designed to \u201cshow how to mobilize private capital in developing countries to tackle climate change,\u201d which are among those most affected by the impacts of climate change, the newswire says.<\/p>\n<p><strong>Egypt\u2019s green push is what got us noticed<\/strong>, with Giordano telling the newswire that Egypt, Kenya, Morocco, Peru, and Vietnam are showing commitment to the clean energy transition. Egypt \u2014 which was recently ranked <a href=\"https:\/\/assets.ey.com\/content\/dam\/ey-sites\/ey-com\/en_gl\/topics\/power-and-utilities\/ey-recai-58th-edition-top-40-ranking-october-2021.pdf\">by E&Y (pdf)<\/a> as one of the top 20 countries in the world for renewable energy attractiveness \u2014 recently set <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/621fcd79-4df0-4d2e-9fc9-3cb6192027d2\">a goal<\/a> of generating 42% of the country\u2019s electricity from renewable sources by 2035. By as soon as next year, authorities are intending to authorize 2.4 GW worth of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bba779b5-fcf1-4c42-ab96-3c83c234d3e1\">renewable energy projects<\/a> that would cost a combined USD 1.5 bn. Several projects will also be funded through our maiden USD 750 bn <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5d1b54d5-5efa-41c9-ac8b-728b105b2ef0\">green bond issuance<\/a>, which made Egypt the first country in the region to sell climate-related debt.<\/p>\n<p><strong>The announcement of the fund coincided with the COP26 summit<\/strong>, where representatives of more than 100 countries are meeting to find consensus on how to reach net-zero emissions over the coming decades. Developing nations, including President Abdel Fattah El Sisi, are <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d36a3e17-1822-4a9e-a110-31649eee59a4\">calling on wealthy nations<\/a> to follow up on their pledge to provide USD 100 bn a year in funding to help developing countries tackle climate change.<\/p>\n<p><strong>The UK has also announced a green investment fund for emerging markets:<\/strong> The UK will invest more than USD 3 bn in green infrastructure projects and technologies in emerging markets over the coming five years, British PM Boris Johnson <a href=\"https:\/\/www.gov.uk\/government\/news\/pm-launches-new-initiative-to-take-green-industrial-revolution-global\">announced<\/a> at the conference. This is double the amount invested by the UK\u2019s development finance arm CDC between 2017 and 2021. The 'Clean Green Initiative' will include USD 200 mn for a new facility that will see CDC work with private sector investors in developing countries to upscale technologies to combat the effects of climate change and mitigate environmental damage.<\/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\/blackrock\/\">BlackRock<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/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\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewable-energy\/\">renewable energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555146\" 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=\"555146\">\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\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/benya-capital-studies-dual-listing\/\">\r\n                            Benya Capital studies dual listing                        <\/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\/11\/03\/benya-capital-studies-dual-listing\/\" 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\/11\/03\/benya-capital-studies-dual-listing\/')\">\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\/11\/03\/benya-capital-studies-dual-listing\/\">\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=Benya Capital studies dual listing&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/benya-capital-studies-dual-listing\/\">\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\/11\/03\/benya-capital-studies-dual-listing\/&title=Benya Capital studies dual listing\">\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=Benya+Capital+studies+dual+listing+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F03%2Fbenya-capital-studies-dual-listing%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\/11\/03\/benya-capital-studies-dual-listing\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555146\" class=\"content-area-description single-story post-555146 post type-post status-publish format-standard hentry category-ipo-watch tag-benya-capital tag-capital-markets tag-egx tag-enterpriseam tag-ipo-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-03\" class=\"content-anchor\"><\/a> <strong>IT infrastructure contractor <\/strong><strong><a href=\"https:\/\/benya.capital\/\">Benya Capital<\/a><\/strong><strong> is c<\/strong><strong>onsidering a dual listing on the EGX and a foreign bourse<\/strong>, CEO Ahmed Mekky said, according to <a href=\"https:\/\/bit.ly\/3ECrZxt\">Hapi Journal<\/a>. The company will soon complete studies on a potential IPO in Egypt, after which it will decide on the second market and the timing of the offering.<\/p>\n<p><strong>There has been a lot of IPO talk after e-Finance\u2019s successful debut on the EGX last month:<\/strong> The state-owned fintech firm <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/23beb734-9f6f-4c55-9143-7c6935ecf804\">raised some EGP 5.8 bn<\/a> when it listed a 26% stake on the bourse, making it the biggest IPO in Egypt in six years. In the days that followed, e-Finance suggested it could follow up the sale by <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8688dd34-1172-476a-879c-52cb7420d2ad\">listing two of its subsidies<\/a>, while <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/65a4c41c-1aae-494a-9c5b-be28022cbb3d\">Ghazl El Mahalla<\/a> announced its intention to become the first listed sports club in Egypt with a share sale in November.<\/p>\n<p><strong>But so far, we\u2019ve heard zip from the private sector players most likely list:<\/strong> The parent company of health foods brand <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/98bcedd8-3687-4806-9a48-9efe1527cb04\">Abu Auf<\/a> said earlier this fall it will list in the first half of 2022, with EFG Hermes in the driver\u2019s seat. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/41f12ac1-51f9-49c7-ad9e-9955e248aa88\">Macro Pharma<\/a> also has plans to list, having made a last-minute u-turn on its IPO in April and later hired EFG Hermes to quarterback the sale. And non-bank financial services player <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e2288438-1757-4a28-b7a4-8060a362753b\">Ebtikar<\/a> has also said it plans to go public.<\/p>\n<p><strong>Benya is a digital solutions and IT infrastructure provide<\/strong>r focused on Egypt and the Middle East and Africa region. The company owns Fiber Misr Systems, Fiber Misr Engineering, Benya Cables and Benya Raqmeya.<\/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\/benya-capital\/\">Benya Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/ipo-watch\/\">IPO watch<\/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=\"555147\" 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=\"555147\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/delivery-startup-appetito-raises-usd-2-mn-pre-seed-funding\/\">\r\n                            Delivery startup Appetito raises USD 2 mn pre-seed funding                        <\/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\/11\/03\/delivery-startup-appetito-raises-usd-2-mn-pre-seed-funding\/\" 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\/11\/03\/delivery-startup-appetito-raises-usd-2-mn-pre-seed-funding\/')\">\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\/11\/03\/delivery-startup-appetito-raises-usd-2-mn-pre-seed-funding\/\">\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=Delivery startup Appetito raises USD 2 mn pre-seed funding&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/delivery-startup-appetito-raises-usd-2-mn-pre-seed-funding\/\">\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\/11\/03\/delivery-startup-appetito-raises-usd-2-mn-pre-seed-funding\/&title=Delivery startup Appetito raises USD 2 mn pre-seed funding\">\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=Delivery+startup+Appetito+raises+USD+2+mn+pre-seed+funding+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F03%2Fdelivery-startup-appetito-raises-usd-2-mn-pre-seed-funding%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\/11\/03\/delivery-startup-appetito-raises-usd-2-mn-pre-seed-funding\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/305.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"555148\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/delivery-startup-appetito-raises-usd-2-mn-pre-seed-funding\/305-jpg-56\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/305.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"305.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/305.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/305.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555147\" class=\"content-area-description single-story post-555147 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-appetito tag-enterpriseam tag-startup-watch tag-startups tag-venture-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-04\"><\/a> <strong>Cairo-based grocery delivery startup <\/strong><strong><a href=\"https:\/\/www.appetito.com\/\">Appetito<\/a><\/strong><strong> has raised USD 2 mn in pre-series A<\/strong> <strong>funding<\/strong>, the company said in <a href=\"https:\/\/ent.news\/2021\/11\/Appetito-Pre-Series-A-round-Press-Release-03.11.2021.pdf\">a statement (pdf)<\/a> last night. The round was led by US VC firm <a href=\"https:\/\/www.jedarcapital.co\/\">Jedar Capital<\/a> and featured participation from Ghanaian investment company <a href=\"https:\/\/www.gpalminvestments.com\/\">Golden Palm Investments<\/a>, Africa-focused VC <a href=\"https:\/\/dfslab.net\/\">DFS Lab<\/a> and a number of angel investors. Jedar contributed to the company\u2019s funding round earlier this year, which saw it raise <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9ebf3652-619e-4412-82ac-05fddb4f947f\">USD 450k<\/a> from a number of angel and venture investors.<\/p>\n<p><strong>About Appetito:<\/strong> Established in March 2020, Appetito is an online platform offering next-day or pre-scheduled grocery and home supply deliveries in Cairo, Alexandria, and Giza. The Egypt-focused startup relies on dark stores \u2014 miniature warehouse-adjacent spaces, whose sole purpose is to pack online orders for delivery to households. Appetito currently operates seven dark stores and has ambitions to expand to 150 by 2024. Over the past 12 months, the company has grown revenues and the number of orders 10x.<\/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\/appetito\/\">Appetito<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/venture-capital\/\">venture 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=\"555149\" 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=\"555149\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/govt-facilities-to-close-to-the-unjabbed-by-next-month-kids-15-18-can-line-up-for-pfizer\/\">\r\n                            Gov\u2019t facilities to close to the unjabbed by next month + kids 15-18 can line up for Pfizer                        <\/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\/11\/03\/govt-facilities-to-close-to-the-unjabbed-by-next-month-kids-15-18-can-line-up-for-pfizer\/\" 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\/11\/03\/govt-facilities-to-close-to-the-unjabbed-by-next-month-kids-15-18-can-line-up-for-pfizer\/')\">\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\/11\/03\/govt-facilities-to-close-to-the-unjabbed-by-next-month-kids-15-18-can-line-up-for-pfizer\/\">\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=Gov\u2019t facilities to close to the unjabbed by next month + kids 15-18 can line up for Pfizer&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/govt-facilities-to-close-to-the-unjabbed-by-next-month-kids-15-18-can-line-up-for-pfizer\/\">\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\/11\/03\/govt-facilities-to-close-to-the-unjabbed-by-next-month-kids-15-18-can-line-up-for-pfizer\/&title=Gov\u2019t facilities to close to the unjabbed by next month + kids 15-18 can line up for Pfizer\">\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=Gov%E2%80%99t+facilities+to+close+to+the+unjabbed+by+next+month+%2B+kids+15-18+can+line+up+for+Pfizer+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F03%2Fgovt-facilities-to-close-to-the-unjabbed-by-next-month-kids-15-18-can-line-up-for-pfizer%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\/11\/03\/govt-facilities-to-close-to-the-unjabbed-by-next-month-kids-15-18-can-line-up-for-pfizer\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555149\" class=\"content-area-description single-story post-555149 post type-post status-publish format-standard hentry category-covid-watch tag-covid-19 tag-enterpriseam tag-health-minister tag-khaled-abdel-ghaffar tag-labor tag-mohamed-awad-tag-el-din tag-pfizer 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 unjabbed won\u2019t have access to gov\u2019t facilities starting next month: <\/strong>Starting from 1 December, members of the public will need to show proof that they\u2019ve received at least one dose of a covid-19 vaccine in order to enter government facilities, cabinet spokesperson Nader Saad told Salat Al Tahrir (<a href=\"https:\/\/www.youtube.com\/watch?v=wht16lBvFNw\">watch, runtime: 17:10<\/a>), elaborating on <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/263295219174239\">a statement<\/a> out following the weekly cabinet meeting yesterday.<\/p>\n<p><strong>The lives of unvaccinated public sector employees are going to get harder in less than<\/strong> <strong>two weeks:<\/strong> Starting 15 November, unvaccinated state employees won\u2019t be allowed into their workplaces unless they test negative on a PCR test each week, the statement said. Uni students will also be prevented from accessing campus unless they show proof of vaccination.<\/p>\n<p><strong>Children aged 15-18 will be offered Pfizer vaccines in Egypt<\/strong>, acting Health Minister Khaled Abdel Ghaffar said in a cabinet meeting today, according to a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/263295219174239\">statement<\/a>. Details of the rollout for the age group will be announced within hours, the minister said, adding that unvaccinated university students will not be allowed on campuses as of 15 November.<\/p>\n<p><strong>Some 38 mn doses have now been administered<\/strong>, presidential health advisor Mohamed Awad Tag El Din told Al Hayah Al Youm in a phone call (<a href=\"https:\/\/www.facebook.com\/hayahalyoum\/videos\/307557127584320\/\">watch, runtime: 2:23<\/a>) last night, without disclosing how many people are now fully vaccinated.<\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/197021742609048?__cft__[0]=AZUgpNY0kMYqQv7WOSlEP8keHrse_vVt3wxj1we_KD5DvfgNnyHuV6lvQ4Lpsq8hfVnJrHOraPAet9RO92lj56XzU7a08pSTZuSvaVtSOip0LrYOt28mgo3_P6azUTWTIsI9gYMSlT4Ntmt6RUkszJrGpRwg8bcr9ZY_n4zgXetVGw&__tn__=%2CO%2CP-R\">reported<\/a><\/strong><strong> 921 new covid-19 infections yesterday<\/strong>, down from 951 the day before. Egypt has now disclosed a total of 332,889 confirmed cases of covid-19. The ministry also reported 58 new deaths, bringing the country\u2019s total death toll to 18,769.<\/p>\n<p><strong>IN GLOBAL COVID NEWS-<\/strong><\/p>\n<p><strong>Pfizer has more than doubled its 2021 covid vaccine sales forecast to USD 36 bn<\/strong>, according to its <a href=\"https:\/\/ent.news\/2021\/11\/Q3-2021-PFE-Earnings-Release.pdf\">3Q earnings release (pdf)<\/a>, which showed sales easily beating estimates. The company is also expecting to rake in USD 29 bn in 2022 from its vaccine. One analyst told <a href=\"https:\/\/www.ft.com\/content\/5054863d-2c1e-4e2b-89ab-5d1a4a2ff0f8\">the FT<\/a> that the figures demonstrate that the pharm giant is \u201cdominating\u201d the global covid vaccine market.<\/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-minister\/\">Health Minister<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/khaled-abdel-ghaffar\/\">Khaled Abdel Ghaffar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/labor\/\">labor<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-awad-tag-el-din\/\">Mohamed Awad Tag El Din<\/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=\"555150\" 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=\"555150\">\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\">Cabinet watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/govt-really-wants-us-to-cut-down-on-imports\/\">\r\n                            Gov\u2019t really wants us to cut down on imports                        <\/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\/11\/03\/govt-really-wants-us-to-cut-down-on-imports\/\" 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\/11\/03\/govt-really-wants-us-to-cut-down-on-imports\/')\">\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\/11\/03\/govt-really-wants-us-to-cut-down-on-imports\/\">\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=Gov\u2019t really wants us to cut down on imports&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/govt-really-wants-us-to-cut-down-on-imports\/\">\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\/11\/03\/govt-really-wants-us-to-cut-down-on-imports\/&title=Gov\u2019t really wants us to cut down on imports\">\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=Gov%E2%80%99t+really+wants+us+to+cut+down+on+imports+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F03%2Fgovt-really-wants-us-to-cut-down-on-imports%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\/11\/03\/govt-really-wants-us-to-cut-down-on-imports\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555150\" class=\"content-area-description single-story post-555150 post type-post status-publish format-standard hentry category-cabinet-watch tag-cabinet-watch tag-economy tag-enterpriseam tag-investment-watch tag-manufacturing wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Import substitution is back on the Cabinet\u2019s priority list:<\/strong> The government is setting up a new committee on import substitution and growing domestic manufacturing, according to <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/263272525843175\">a statement<\/a> following the weekly cabinet meeting. The committee is mandated with laying out proposed steps to encourage industrial investments in the sectors specified by the Trade and Industry Ministry where domestic manufacturing is the most lacking, the statement says. <strong>The strategy will be prepared with input from the private sector<\/strong> to avoid overcrowding or duplicates in certain industries. The committee, headed by the Trade and Industry minister, will prepare quarterly reports on its progress and report these findings to the prime minister.<\/p>\n<p><strong>This might ring a bell for longtime Enterprise readers:<\/strong> <a href=\"https:\/\/enterprise.press\/stories\/2018\/05\/14\/is-cabinet-getting-serious-about-import-substitution\/\">Back in 2018<\/a>, Cabinet \u2014 which was then headed by Sherif Ismail \u2014 had ordered a study of the total import of goods and services over the previous three years to help the government set policy priorities for which goods can be manufactured by the private sector domestically. The move was meant to reduce unemployment and help narrow the current account deficit.<\/p>\n<p><strong>It\u2019s as good a time as any to prioritize cutting back on imports:<\/strong> Egypt\u2019s current account deficit widened by USD 7.2 bn in FY2020-2021, as a \u201cnoticeable drop\u201d in tourism revenues meant there was less to offset expenditures on imports, according to Central Bank of Egypt figures released <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/677e0719-a936-451b-bd5b-cdb8e758d77e\">last month<\/a>. Egypt\u2019s spending on non-oil imports rose 11% y-o-y during the first half of the current calendar year, rising to USD 36.6 bn, Trade and Industry Ministry <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/44bd7ad8-854f-40d9-9b58-108f3b56089a\">figures previously showed<\/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\/cabinet-watch\/\">cabinet watch<\/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\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555151\" 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=\"555151\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/nbe-wants-to-borrow-usd-1-5-bn-from-intl-lenders-in-2022\/\">\r\n                            NBE wants to borrow USD 1.5 bn from int\u2019l lenders in 2022                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/nbe-wants-to-borrow-usd-1-5-bn-from-intl-lenders-in-2022\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/nbe-wants-to-borrow-usd-1-5-bn-from-intl-lenders-in-2022\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/nbe-wants-to-borrow-usd-1-5-bn-from-intl-lenders-in-2022\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=NBE wants to borrow USD 1.5 bn from int\u2019l lenders in 2022&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/nbe-wants-to-borrow-usd-1-5-bn-from-intl-lenders-in-2022\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/nbe-wants-to-borrow-usd-1-5-bn-from-intl-lenders-in-2022\/&title=NBE wants to borrow USD 1.5 bn from int\u2019l lenders in 2022\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=NBE+wants+to+borrow+USD+1.5+bn+from+int%E2%80%99l+lenders+in+2022+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F03%2Fnbe-wants-to-borrow-usd-1-5-bn-from-intl-lenders-in-2022%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/nbe-wants-to-borrow-usd-1-5-bn-from-intl-lenders-in-2022\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555151\" class=\"content-area-description single-story post-555151 post type-post status-publish format-standard hentry category-debt-watch tag-asian-infrastructure-investment-bank tag-debt tag-debt-watch tag-ebrd tag-enterpriseam tag-national-bank-of-egypt tag-opec tag-world-bank wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The National Bank of Egypt (NBE) is in the market to borrow USD 1.5 bn <\/strong><strong>from international institutions next year<\/strong>, Deputy Chairman Yehia Aboul Fotouh told <a href=\"https:\/\/bit.ly\/3nK8ZGw\">Hapi Journal<\/a>. This would match the amount it borrowed this year, he said. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cdd0a072-bb1b-49be-a141-f7ed73b40f18\">Media reports<\/a> earlier this year suggested that the bank was close to an agreement for a USD 1 bn loan, part of which would be used to refinance existing debts. The European Bank for Reconstruction and Development<sup><\/sup> (EBRD) and the French Development Agency (AFD) lent the bank <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b581a1c9-94c2-46c6-9923-b024ec358949\">USD 100 mn loan<\/a> to on-lend to green projects, and last week the AIIB and the OPEC Fund signed off on <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f884fc7b-c86b-4af4-80f7-385a02aaa39e\">a USD 200 mn loan<\/a> for infrastructure projects.<\/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\/asian-infrastructure-investment-bank\/\">Asian Infrastructure Investment Bank<\/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\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ebrd\/\">EBRD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/opec\/\">OPEC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-bank\/\">World Bank<\/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=\"555152\" 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=\"555152\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/edita-profits-up-5-in-3q2021\/\">\r\n                            Edita profits up 5% in 3Q2021                        <\/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\/11\/03\/edita-profits-up-5-in-3q2021\/\" 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\/11\/03\/edita-profits-up-5-in-3q2021\/')\">\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\/11\/03\/edita-profits-up-5-in-3q2021\/\">\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=Edita profits up 5% in 3Q2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/edita-profits-up-5-in-3q2021\/\">\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\/11\/03\/edita-profits-up-5-in-3q2021\/&title=Edita profits up 5% in 3Q2021\">\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=Edita+profits+up+5%25+in+3Q2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F03%2Fedita-profits-up-5-in-3q2021%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\/11\/03\/edita-profits-up-5-in-3q2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/307.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"555153\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/edita-profits-up-5-in-3q2021\/307-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/307.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"307.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/307.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/307.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555152\" class=\"content-area-description single-story post-555152 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-earnings tag-earnings-watch tag-edita tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Edita is recovering from covid just fine:<\/strong> Edita Food Industries\u2019 net income rose almost 5% in 3Q2021, reaching EGP 112.4 mn from EGP 107.5 mn in the same period last year, according to the company\u2019s latest <a href=\"https:\/\/ent.news\/2021\/11\/Edita-Earnings-Release-3Q2021.pdf\">earnings release (<\/a><a href=\"https:\/\/ent.news\/2021\/11\/Edita-Earnings-Release-3Q2021.pdf\">pdf<\/a><a href=\"https:\/\/ent.news\/2021\/11\/Edita-Earnings-Release-3Q2021.pdf\">)<\/a>. Revenues increased by a third to EGP 1.39 bn on higher volumes and better pricing, the company said.<\/p>\n<p><strong>Better pricing = higher revenues:<\/strong> The company has focused on shifting consumers to higher priced products and has raised the average price per package to EGP 1.79, up from EGP 1.63 in 3Q2020. Most recently, the company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/84cdbb78-8898-467b-8ae6-52bb5eceb145\">raised the price of Molto<\/a> by EGP 1 and is now selling two ranges of the packaged croissants at EGP 3 and EGP 4, in a bid to improve its bottom line amid rising inflation. <strong>Sales volumes rose 20% during the quarter<\/strong> from a year earlier, driven by its cakes and wafers segments, Edita said.<\/p>\n<p><strong>Looking ahead:<\/strong> \u201cThe company will continue to expand production capacity and rolling out new, higher-value propositions, while shifting consumers increasingly towards higher price points,\u201d it said in the release. It\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7b631c86-b30a-46e3-b912-9a1c4ee3dfb6\">new factory in Morocco<\/a> will start operations this month, marking a \u201ckey milestone\u201d in its expansion overseas, it said. The production line will produce 2.7k tons of HoHos cakes each year before another three lines come online at a later date.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/edita\/\">Edita<\/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=\"555154\" 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=\"555154\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/555154\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555154\" class=\"content-area-description single-story post-555154 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.sodic.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/Tactical-Male-1600WX800H-for-web.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555155\" 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=\"555155\">\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\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/cop26-continues-to-dominate-our-small-screens\/\">\r\n                            COP26 continues to dominate our small screens                        <\/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\/11\/03\/cop26-continues-to-dominate-our-small-screens\/\" 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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Meanwhile, Al Hayah Al Youm had an environmental expert give his two cents on the issue of climate change (<a href=\"https:\/\/www.facebook.com\/hayahalyoum\/videos\/426305155881767\">watch, runtime: 7:33<\/a>). Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=DCt8gs55t9A\">watch, runtime: 2:32<\/a>) also covered the summit, recapping day one.<\/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\/australia\/\">Australia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cop26\/\">COP26<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/environment\/\">environment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hsbc\/\">HSBC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/yasmine-fouad\/\">Yasmine Fouad<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555156\" 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\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" data-block-id=\"46c5f99\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-46c5f99-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-2pcgkye\" data-v=\"4\" data-block-id=\"2pcgkye\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-2pcgkye-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-2pcgkye-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-mfp4hjs\" data-v=\"4\" data-block-id=\"mfp4hjs\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-mfp4hjs-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-mfp4hjs-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27487.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Live More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-h49zbop\" data-v=\"4\" data-block-id=\"h49zbop\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-h49zbop-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-h49zbop-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-my8uvhs\" data-v=\"4\" data-block-id=\"my8uvhs\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-my8uvhs-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-my8uvhs-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div 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272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555157\" 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=\"555157\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/10-egyptian-peacekeepers-wounded-in-car\/\">\r\n                            10 Egyptian peacekeepers wounded in CAR                        <\/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\/11\/03\/10-egyptian-peacekeepers-wounded-in-car\/\" 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\/11\/03\/10-egyptian-peacekeepers-wounded-in-car\/')\">\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\/11\/03\/10-egyptian-peacekeepers-wounded-in-car\/\">\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=10 Egyptian peacekeepers wounded in CAR&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/10-egyptian-peacekeepers-wounded-in-car\/\">\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\/11\/03\/10-egyptian-peacekeepers-wounded-in-car\/&title=10 Egyptian peacekeepers wounded in CAR\">\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=10+Egyptian+peacekeepers+wounded+in+CAR+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F03%2F10-egyptian-peacekeepers-wounded-in-car%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\/11\/03\/10-egyptian-peacekeepers-wounded-in-car\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555157\" class=\"content-area-description single-story post-555157 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-alaa-abdel-fattah tag-enterpriseam tag-food-and-beverage tag-hossam-bahgat tag-housing tag-human-rights tag-new-york wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Getting attention in the international press this morning:<\/strong> Gunfire wounded 10 Egyptian police officers serving as peacekeepers with a UN mission in the Central African Republic. The UN <a href=\"https:\/\/bit.ly\/3EGYLNN\">said<\/a> the attack by the presidential guard in Bangui was \u201cdeliberate and unspeakable.\u201d (<a href=\"https:\/\/www.dw.com\/en\/un-10-unarmed-peacekeepers-shot-by-car-presidential-guard\/a-59693154\">DW<\/a> | <a href=\"https:\/\/www.france24.com\/en\/africa\/20211102-egyptian-peacekeepers-wounded-by-gunfire-in-central-african-republic-un-says\">AFP<\/a>)<\/p>\n<p><strong>Human rights are also in the press:<\/strong> <a href=\"https:\/\/www.france24.com\/en\/live-news\/20211102-november-29-verdict-for-egypt-activist-over-election-tweet\">AFP<\/a> notes that journalist <strong>Hossam Bahgat<\/strong> will learn his fate on 29 November when a court hands down a verdict in a case regarding a tweet in which he allegedly criticized the National Elections Authority. Elsewhere, <a href=\"https:\/\/www.jacobinmag.com\/2021\/10\/egypt-revolution-alaa-al-sisi-protest-dissent-imprisonment\">Jacobin<\/a> reviews jailed activist <strong>Alaa Abdel <\/strong><strong>Fattah<\/strong>\u2019s latest book, You Have Not Yet Been Defeated, which gives a historical run-down of pre and post-January 2011 events.<\/p>\n<p><strong>Also getting attention: <\/strong><\/p>\n<ul>\n<li><strong>Hawawshi hits the streets of NYC:<\/strong> The <a href=\"https:\/\/www.nytimes.com\/2021\/11\/02\/dining\/restaurant-review-foda-egyptian-sandwiches-queens.html\">New York Times<\/a> reviews <a href=\"https:\/\/www.facebook.com\/pages\/category\/Food-Truck\/Foda-Egyptian-Sandwiches-103954114940762\/\">Foda Egyptian<\/a><a href=\"https:\/\/www.facebook.com\/pages\/category\/Food-Truck\/Foda-Egyptian-Sandwiches-103954114940762\/\"><\/a><a href=\"https:\/\/www.facebook.com\/pages\/category\/Food-Truck\/Foda-Egyptian-Sandwiches-103954114940762\/\">Sandwiches<\/a>, a Queens restaurant specializing in Egyptian staples kebda, hawawshi and koshary.<\/li>\n<li><strong>New prison complex: <\/strong>Egypt\u2019s \u201cstate-of-the art\u201d prison complex in Wadi Natrun valley \u201cputs Egyptian housing to shame,\u201d with its farm, library and education center which will host a large variety of workshops. (<a href=\"https:\/\/www.thetimes.co.uk\/article\/state-of-the-art-prison-near-cairo-puts-egyptian-housing-to-shame-nn58v9w83\">The Times<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/alaa-abdel-fattah\/\">Alaa Abdel Fattah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food-and-beverage\/\">food and beverage<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hossam-bahgat\/\">Hossam Bahgat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/housing\/\">housing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/new-york\/\">New York<\/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=\"555158\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555159\" 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=\"555159\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/ntra-slaps-telcos-with-fines-for-poor-quality\/\">\r\n                            NTRA slaps telcos with fines for poor quality                        <\/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\/11\/03\/ntra-slaps-telcos-with-fines-for-poor-quality\/\" 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\/11\/03\/ntra-slaps-telcos-with-fines-for-poor-quality\/')\">\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\/11\/03\/ntra-slaps-telcos-with-fines-for-poor-quality\/\">\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=NTRA slaps telcos with fines for poor quality&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/ntra-slaps-telcos-with-fines-for-poor-quality\/\">\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\/11\/03\/ntra-slaps-telcos-with-fines-for-poor-quality\/&title=NTRA slaps telcos with fines for poor quality\">\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=NTRA+slaps+telcos+with+fines+for+poor+quality+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F03%2Fntra-slaps-telcos-with-fines-for-poor-quality%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\/11\/03\/ntra-slaps-telcos-with-fines-for-poor-quality\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555159\" class=\"content-area-description single-story post-555159 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-cit tag-dana-gas tag-efg-hermes tag-egyptair tag-energy tag-enterpriseam tag-hosni-mubarak tag-midbank tag-misr-italia-properties tag-national-telecom-regulatory-authority tag-non-banking-financial-services tag-oil-and-gas tag-real-estate tag-tourism tag-travel tag-valu wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>NTRA slaps telecom companies with EGP 25 mn in fines for subpar quality<\/strong><strong>:<\/strong> The National Telecommunications Regulatory Authority (NTRA) has handed out EGP 25 mn in fines to telecom companies after their voice call services failed to meet the required quality standards, the regulator said in its quarterly quality of service (QoS) <a href=\"https:\/\/www.tra.gov.eg\/wp-content\/uploads\/2021\/11\/Quality-Q3-2021-final-1-11-2021-1.pdf\">survey (pdf)<\/a>. In terms of call quality, Etisalat Misr had the most issues, while We\u2019s network fared the worst with starting calls and Orange Egypt scored low on voice quality, the report says. Mobile internet speeds were stable throughout the three months of the third quarter of the year, with We and Vodafone boasting the fastest average speeds. Etisalat and Orange\u2019s data speeds were also stable throughout the quarter.<\/p>\n<p><strong>Assets belonging to the sons of former president Hosni Mubarak <\/strong><strong><a href=\"https:\/\/gate.ahram.org.eg\/News\/3083660.aspx\">will be unfrozen<\/a><\/strong> after an economic court yesterday issued a final ruling that sets aside a 2012 decision in a case in which the two were accused of market manipulation. Gamal and Alaa Mubarak were <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/27d873ce-a41d-40c1-b74f-f17dd9bd96e7\">last year cleared<\/a> of charges of insider trading and manipulation related to the 2007 sale of Al Watany Bank of Egypt to the National Bank of Kuwait. Yesterday\u2019s decision cannot be appealed.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>Flights between London and Luxor <\/strong><strong><a href=\"https:\/\/gate.ahram.org.eg\/News\/3083526.aspx\">are back<\/a><\/strong><strong>:<\/strong> The first flight between the two cities landed in Luxor yesterday, kicking off a new schedule that will see EgyptAir operate one weekly flight carrying 140 passengers.<\/li>\n<li><strong>Misr Italia Properties <\/strong><strong><a href=\"https:\/\/www.zawya.com\/mena\/en\/story\/Misr_Italia_Properties_signs_partnership_with_valU-SNG_257489715\/\">signed an agreement<\/a><\/strong> <strong>with Valu<\/strong>, which will give their clients access to home improvement financing provided by the consumer lender.<\/li>\n<li><strong>MIDBank <\/strong><strong><a href=\"https:\/\/www.temenos.com\/news\/2021\/11\/01\/egypts-midbank-selects-temenos-to-power-its-digital-transformation\/\">has contracted<\/a><\/strong><strong> banking software company Temenos to revamp <\/strong><strong>and launch digital services for the bank<\/strong>, including mobile and online banking.<\/li>\n<li><strong>Dana Gas received USD 133 mn from its operations in <\/strong><strong>Egypt in 10M2021, up 95% y-o-y<\/strong> thanks to the sharp rise in global oil prices, the company said in a bourse <a href=\"https:\/\/ent.news\/2021\/11\/20211101-Press-release-10-months-collections-EN.pdf\">disclosure<\/a><a href=\"https:\/\/ent.news\/2021\/11\/20211101-Press-release-10-months-collections-EN.pdf\">(pdf)<\/a> in Abu Dhabi.<\/li>\n<li><strong>Authorities <\/strong><strong><a href=\"https:\/\/www.facebook.com\/MoiEgy\/posts\/250625300434195?__cft__[0]=AZXe0rKne0LUmOv9kaZF7YjvmRVXWwmjov8Lzg75T4ZnB9xfs-yr2L6h8O9kOECAJ0wfdH5LWQ8hPPbm5ah9Ozit16tfgDo9plh6esiiPju7dXeH5SEvNPSg0WmvmCNf3gGvQg6pCbvUYhVnH91gRbYG&__tn__=%2CO%2CP-R\">arrested a man<\/a><\/strong><strong> suspected of decapitating and killing a man in <\/strong><strong>Ismailia<\/strong>, after footage of the attack made the rounds on social media. The suspect\u2019s motives are unclear.<\/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\/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\/cit\/\">CIT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dana-gas\/\">Dana Gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptair\/\">EgyptAir<\/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\/hosni-mubarak\/\">Hosni Mubarak<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/midbank\/\">MIDBank<\/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\/national-telecom-regulatory-authority\/\">National Telecom Regulatory Authority<\/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\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/travel\/\">travel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/valu\/\">ValU<\/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=\"555160\" 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=\"555160\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/bond-market-nervous-equities-shrug-ahead-of-key-fed-meeting\/\">\r\n                            Bond market nervous, equities shrug ahead of key Fed meeting                        <\/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\/11\/03\/bond-market-nervous-equities-shrug-ahead-of-key-fed-meeting\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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href=\"https:\/\/api.whatsapp.com\/send?text=Bond+market+nervous%2C+equities+shrug+ahead+of+key+Fed+meeting+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F03%2Fbond-market-nervous-equities-shrug-ahead-of-key-fed-meeting%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\/11\/03\/bond-market-nervous-equities-shrug-ahead-of-key-fed-meeting\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555160\" class=\"content-area-description single-story post-555160 post type-post status-publish format-standard hentry category-planet-finance tag-amazon tag-dubai tag-enterpriseam tag-financial-markets tag-interest-rates tag-ipo-watch tag-planet-finance tag-startups 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><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>Volatility is spiking in US bond markets, but equities are turning a blind eye to <\/strong><strong>risk:<\/strong> The uncertain outlook on inflation has jolted US government bonds, as fixed-income investors fret over the impact of the prospective Fed taper. Meanwhile, the S&amp;P 500 stock index chased fresh peaks all through October to record its best month so far this year, the <a href=\"https:\/\/www.ft.com\/content\/5167afb4-806d-4c3a-af40-75a6a3ebfcbc\">Financial Times<\/a> reports.<\/p><p><strong>US stocks again notched fresh record highs yesterday<\/strong>, leading the Dow to <a href=\"https:\/\/www.wsj.com\/articles\/stock-futures-steady-after-dow-record-11635841946?mod=hp_lead_pos1\">close above<\/a><a href=\"https:\/\/www.wsj.com\/articles\/stock-futures-steady-after-dow-record-11635841946?mod=hp_lead_pos1\">36,000 for the first time ever<\/a>, a day before the Fed announces its decision on whether to start curtailing stimulus. Strong earnings in the face of rising commodity prices and supply chain disruptions led <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-11-01\/stocks-set-for-steady-open-as-policy-meetings-loom-markets-wrap?sref=mmeFTDW1\">one analyst to conclude<\/a> that the fundamentals are \u201cvery, very strong.\u201d<\/p><p><strong>Is a \u201cbalanced bear\u201d on the horizon? <\/strong>The divergence between the two asset classes is leading some analysts to warn that the stock market isn\u2019t taking note of the risk for a combined equity and bond market sell-off, aka a \u201cbalanced bear.\u201d \u201cEquities \u2014 and equity volatility \u2014 should not miss the forest for the trees, as they\u2019ve never been more dependent on the Fed and the Fed has never been more dependent on economic data, which itself has never been more volatile,\u201d one Bank of America analyst told the FT.<\/p><p><strong>Dubai vies for a piece of the Gulf IPO rush with state listings: <\/strong>Dubai will IPO 10 state-owned companies to raise trading volumes on its bourse to AED 3 tn, the <a href=\"https:\/\/twitter.com\/DXBMediaOffice\/status\/1455227782636650499\">emirate said<\/a>. There was no indication of which companies are set to see their public debut or the timeline for the listings, but candidates could include Dubai Electricity and Water Authority and Emirates Airline, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-11-02\/dubai-plans-to-list-10-state-firms-as-it-seeks-to-join-ipo-boom?sref=mmeFTDW1\">Bloomberg<\/a>. The announcement comes as the DFM tries to close the gap with neighboring UAE and Saudi markets, which have soared this year on the back of an IPO boom that has seen bumper listings from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/40651be6-b526-4c6d-a0e3-055621d87f32\">Adnoc Drilling and Fertiglobe in Abu Dhabi to ACWA Power in Riyadh<\/a>.<\/p><p><strong>Amazon-backed EV startup Rivian is targeting a USD 60 bn valuation in its IPO <\/strong><strong>next week: <\/strong>Rivian \u2014 which is also backed by Ford, and Cox Enterprises \u2014 is planning to sell shares between USD 57-62 apiece, giving the electric vehicle startup a valuation of USD 60 bn at the high end of the range, writes the <a href=\"https:\/\/www.wsj.com\/articles\/rivian-automotive-targets-ipo-valuation-just-above-60-billion-11635792963?mod=hp_lead_pos1\">Wall Street Journal<\/a>.<\/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>11676<\/p>\n<\/td>\n<td>\n<p>+0.9% (YTD: +7.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>11,752<\/p>\n<\/td>\n<td>\n<p>+3% (YTD: +35.2%)<\/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>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>7,977<\/p>\n<\/td>\n<td>\n<p>+0.7% (YTD: +58.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,995<\/p>\n<\/td>\n<td>\n<p>+4% (YTD: +20.2%)<\/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>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,631<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: +23.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,275<\/p>\n<\/td>\n<td>\n<p>-0.2% (YTD: +12.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 84.72<\/p>\n<\/td>\n<td>\n<p>0.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 5.55<\/p>\n<\/td>\n<td>\n<p>+0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,788<\/p>\n<\/td>\n<td>\n<p>-0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 62,980<\/p>\n<\/td>\n<td>\n<p>+3.0% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 rose 0.9% yesterday <\/strong>on turnover of EGP 1.39 bn (9.2% below the 90-day average). Local investors were net sellers. The index is up 7.7% YTD.<\/p><p><strong>In the green:<\/strong> GB Auto (+9.0%), Palm Hills Development (+3.5%) and TMG Holding (+3.1%).<\/p><p><strong>In the red: <\/strong>Ibnsina Pharma (-2.8%), Egypt Kuwait Holding-EGP (-2.3%) and Abou Kir Fertilizers (-2.2%).<\/p><p><strong>Asian markets are down slightly in early trading this morning<\/strong> and US and European futures are mixed ahead of the Federal Reserve\u2019s policy decision later today.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/amazon\/\">Amazon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dubai\/\">Dubai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555161\" 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=\"555161\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/us-sees-urgent-need-for-gerd-deal\/\">\r\n                            US sees \u201curgent\u201d need for GERD deal                        <\/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\/11\/03\/us-sees-urgent-need-for-gerd-deal\/\" 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\/11\/03\/us-sees-urgent-need-for-gerd-deal\/')\">\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\/11\/03\/us-sees-urgent-need-for-gerd-deal\/\">\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=US sees \u201curgent\u201d need for GERD deal&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/us-sees-urgent-need-for-gerd-deal\/\">\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\/11\/03\/us-sees-urgent-need-for-gerd-deal\/&title=US sees \u201curgent\u201d need for GERD deal\">\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=US+sees+%E2%80%9Curgent%E2%80%9D+need+for+GERD+deal+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F03%2Fus-sees-urgent-need-for-gerd-deal%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\/11\/03\/us-sees-urgent-need-for-gerd-deal\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555161\" class=\"content-area-description single-story post-555161 post type-post status-publish format-standard hentry category-diplomacy tag-diplomacy tag-enterpriseam tag-ethiopia tag-gerd tag-joe-biden wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The US sees an \u201curgent\u201d need for Egypt and Ethiopia to come to an agreement <\/strong><strong>regarding the filling and operating of the Grand Ethiopian Renaissance Dam<\/strong>, US special envoy to the Horn of Africa Jeffrey Feltman said during a speech at the US Institute of Peace (<a href=\"https:\/\/www.facebook.com\/usinstituteofpeace\/videos\/2763251457253651\/?__cft__[0]=AZVVmlvKbZj1uEaZfHtXvbgTbPorMf8QIV1Wk06eukbqaKW9Z_N_gqMq392QFF47yToI8CC7g1eh9-FEoQy7sTmYwnj2EB1B9zC8wMxkGsIiD_dcJeuoPWBOgjaeLe5T62diGektmnNm2gYQdriVYxQqEMOg6itM4of8fMVyMMbdK42hSQQtgsdMRTsJ1ton_VU&__tn__=%2CO%2CP-R\">watch, runtime: 1:01:29<\/a>). African Union-led negotiations between Egypt, Ethiopia and Sudan have been on hiatus for months, with the three countries still unable to agree on who should mediate a new round of talks.<\/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\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ethiopia\/\">Ethiopia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/joe-biden\/\">Joe Biden<\/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 hardhat vertical-section wide-section wp-block-group issue-section\" id=\"555162\">\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\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/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\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday 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\/hardhat\/\">\r\n                            Read Hardhat                        <\/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\">14<\/div>\r\n    \r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/more-inflation-ahead-thanks-to-the-gas-price-hike\/\"> \r\n                            More inflation ahead thanks to the gas price hike<\/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\/hardhats\/more-inflation-ahead-thanks-to-the-gas-price-hike\/\" 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\/hardhats\/more-inflation-ahead-thanks-to-the-gas-price-hike\/')\">\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\/hardhats\/more-inflation-ahead-thanks-to-the-gas-price-hike\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=More inflation ahead thanks to the gas price hike&url=https:\/\/enterpriseam.com\/egypt\/hardhats\/more-inflation-ahead-thanks-to-the-gas-price-hike\/\">\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\/hardhats\/more-inflation-ahead-thanks-to-the-gas-price-hike\/&title=More inflation ahead thanks to the gas price hike\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=More+inflation+ahead+thanks+to+the+gas+price+hike+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Fhardhats%2Fmore-inflation-ahead-thanks-to-the-gas-price-hike%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>                    <\/div>\r\n    \r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/more-inflation-ahead-thanks-to-the-gas-price-hike\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/316.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"555163\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/more-inflation-ahead-thanks-to-the-gas-price-hike\/316-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/316.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"316.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/316.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/316.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-555162\" class=\"content-area-description post-555162 hardhat type-hardhat status-publish has-post-thumbnail hentry tag-energy tag-enterprise-hardhat tag-enterpriseam tag-infrastructure tag-manufacturing 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-08\"><\/a> <strong>The global gas squeeze has arrived in Egypt:<\/strong> Operating margins at industrial firms will likely come under pressure in the coming months after the government this week raised natural gas prices by up to 28% \u2014 a move that will likely put further upward pressure on inflation, which <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9734c255-82fb-4ede-9084-de53f4dbb70d\">in September hit a 20-month high<\/a>.<\/p>\n<p><strong>Fertilizer, iron and steel, petrochemical, and cement producers will see their gas bills <\/strong><strong>rise the most:<\/strong> Factories in these sectors are now paying USD 5.75 \/ mmBtu of natural gas, up from USD 4.50 \/ mmBtu. Other industries got off comparatively lightly, and are only seeing a 5.6% increase in their gas bills, paying USD 4.75 \/ mmBtu.<sup><\/sup><\/p>\n<p><strong>A return to the status quo: <\/strong>The hikes more or less reverse <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1154689d-294f-4d45-95b4-84a76d67466c\">industry-wide price cuts<\/a> enacted last year to help factories withstand the covid-19 crisis.<\/p>\n<p><strong>But that doesn\u2019t mean they won\u2019t cause discomfort<\/strong>, particularly for companies operating in the fertilizers and metals sectors. How much discomfort depends on the industry, and how central tgas is to the production process. Natgas is a feedstock or main fuel source for some fertilizer and metals producers, some of whom expect production costs to rise by 5-10%. Meanwhile, petrochem firms, who largely use other gases in their production, are expecting no more than a 1% hike to costs on the back of the decision, while most cement makers currently rely mainly on coal and so won\u2019t be impacted.<\/p>\n<p><strong>\u201cHiking natural gas prices for industries, especially those that are considered <\/strong><strong>energy-intensive, will surely pressure operating margins,\u201d<\/strong> Prime analyst Mohamed Saad wrote in a note on Sunday. Lower cashflows will squeeze margins and hit valuations, the extent to which will depend on the sector and the company, he wrote. \u201cThe big question is whether natural gas prices will be revised in the future when the current global energy crisis is behind and if so, when?\u201d<\/p>\n<p><strong>Fertilizer makers could see costs rise by as much as 10%: <\/strong>Fertilizer producers including <a href=\"https:\/\/ent.news\/2021\/11\/FERCHEM-natural-gas-disclosure-31.10.pdf\">Ferchem Masr (pdf)<\/a> and <a href=\"https:\/\/ent.news\/2021\/11\/EFIC-natural-gas-disclosure-31.10.pdf\">EFIC (pdf)<\/a> said the price hikes put them on track for a 9-10% increase in production costs, according to separate bourse disclosures. EFIC writes that the impact could weaken the company\u2019s ability to compete in the global export market.<\/p>\n<p><strong>As for steel, the decision could <\/strong><strong>raise production costs to the tune of 5-7% for companies that use natural gas as feedstock, <\/strong>while those that only use natgas as a fuel will be less impacted, one analyst told us. Misr National Steel (Ataqa) falls into the latter category: its costs are set to increase by a minimal EGP 26 per tonne, according to a <a href=\"https:\/\/ent.news\/2021\/11\/Misr-National-Steel-natgas-impact.pdf\">disclosure (pdf)<\/a>. The first group of steelmakers in particular will see a negative impact, as fixed prices mean there is no possibility to pass on cost increases onto consumers, the analyst said.<\/p>\n<p><strong>Petrochem firms will see only marginal impacts:<\/strong> EGX-listed petroleum player Alexandria Mineral Oils Company expects just an 0.8% increase in its annual production costs on the back of the decision, according to the company\u2019s <a href=\"https:\/\/ent.news\/2021\/11\/AMOC-natgas-impact.pdf\">EGX disclosure (pdf)<\/a>. Sidi Kerir Petrochemicals expects a similarly minimal 1% annual increase in production costs, it said in <a href=\"https:\/\/ent.news\/2021\/11\/Sidi-Kerir-natgas-impact.pdf\">a regulatory filing (pdf)<\/a>, adding that natural gas is not a central component for the company.<\/p>\n<p><strong>The price hike will have a negligible impact on cement producers<\/strong>, most of which largely rely on coal, Arabian Cement Company <a href=\"https:\/\/ent.news\/2021\/11\/Arabian-Cement-Natgas-Dusclosure-1.11.pdf\">noted in a disclosure (pdf)<\/a>. An outlier is South Valley Cement Company, which is <a href=\"https:\/\/ent.news\/2021\/11\/South-Valley-Cement-Natural-Gas-Statement-10.31.pdf\">predicting (pdf)<\/a> a whopping 30-50% increase in its production costs due to its continued use of gas.<\/p>\n<p><strong>EGX investors punished heavy industries across the board<\/strong> on Sunday, with Ezz Steel down 11.8%, Abou Kir Fertilizers losing 6.1%, and Sidi Kerir down 5.5%.<\/p>\n<p><strong>Prepare for costs to be passed on and inflation to rise:<\/strong> Prices of fertilizers and chemical <sup><\/sup>products will rise at least 20% in the coming months, Export Council for Chemical Industries and Fertilizers Chairman Khaled Abu Al Makarem told <a href=\"https:\/\/bit.ly\/3w5Ecru\">Masrawy<\/a>, adding that the decision will likely have a negative impact on the economy for the coming three months.<\/p>\n<p><strong>Rising fertiliz<\/strong><sup><\/sup><strong>er prices means higher food prices:<\/strong> Fertilizers have been a key driver of the global surge in food prices this year. Spiking oil and natural gas prices have put pressure on fertilizer producers, which have passed on the costs to the agricultural sector resulting in food price inflation. Food has been one of the key components underpinning the recent rise in headline inflation, a trend that will likely increase should fertilizer prices rise further.<sup><\/sup><\/p>\n<p><strong>Exports retain a competitive edge:<\/strong> The price of Egypt\u2019s natural gas remains internationally competitive, Medhat Stefanos, head of the Federation of Egyptian Industries\u2019 cement division, told <a href=\"https:\/\/cnn.it\/3pULLjI\">CNN Arabia<\/a>. He said that it was inevitable that the global energy crunch would at some point impact Egyptian prices, adding that the FEI had previously called for gas prices to be linked to changes in international markets.<\/p>\n<p><strong>But exporters would have appreciated some prior notice:<\/strong> Al Makarem said exporting firms should have been given three months\u2019 warning to account for the increase when arranging futures contracts with international companies. But given the global price squeeze, the government would now find it difficult to grant requests to postpone the decision, he added.<\/p>\n<p><strong>Gas could rise and fall in line with global prices in future: <\/strong>Following the gas price hikes, Oil Minister Tarek El Molla over the weekend said factories could see the prices they pay for natural gas <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a808ab85-a831-4d56-9377-c799e5e29d18\">change every 3-4 months<\/a> if the gas market is liberalized. Last year, a task force made up of the Egyptian Federation of Investors Associations (EFIA) and state-owned EGAS was set up to look at <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5dd50a4d-30e6-4616-abef-fc1cf0a3f4a3\">aligning local and international prices<\/a>.<\/p>\n<p><strong>A<\/strong><strong> silver lining:<\/strong> The government plans to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bd1b4fed-8142-4464-856d-5b7e1e05ab14\">ke<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bd1b4fed-8142-4464-856d-5b7e1e05ab14\">ep electricity prices fixed<\/a> for another few years. Factories were spared the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d8524ce4-c8d0-4b1d-b450-a125c9879398\">most recent hikes<\/a> in electricity prices.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top infrastructure stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>NBE <\/strong><strong>to get<\/strong><strong> USD 200 mn to on-lend to infrastructure projects: <\/strong>The <a href=\"https:\/\/www.aiib.org\/en\/news-events\/news\/2021\/AIIB-to-Further-Support-Infrastructure-Sector-Development-in-Egypt.html\">AIIB<\/a> and the <a href=\"https:\/\/opecfund.org\/media-center\/press-releases\/2021\/opec-fund-and-asian-infrastructure-investment-bank-aiib-partner-up-to-provide-infrastructure-funding-in-egypt\">OPEC Fund<\/a> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f884fc7b-c86b-4af4-80f7-385a02aaa39e\">have lent<\/a> USD 200 mn to the National Bank of Egypt (NBE) to channel into infrastructure projects.<\/li>\n<li><strong>Car sales dip in September:<\/strong> Passenger car sales <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fee958b6-769f-4ccd-bdb1-bb87e9e9e5ee\">dropped<\/a>2% y-o-y in September as the global chip shortage bites, according to industry figures.<\/li>\n<li><strong>Natgas vehicles are getting pricier: <\/strong>Some dual-fuel vehicles delivered through the government\u2019s natgas transition scheme <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/91a7b5ab-6493-45f2-992b-422c294c8c39\">will be EGP 3-5k more expensive<\/a> after the Finance Ministry approved three manufacturers\u2019 requests to raise their prices.<\/li>\n<li><strong>Taqa plans 6x increase in solar capacity: <\/strong>Taqa Arabia is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0a41ad6b-9141-4ceb-9c19-9cdb81e423f3\">looking to increase<\/a> its solar energy capacity to 400-500 MW within five years from 70 MW currently.<\/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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\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=\"555164\" 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\/11\/03\/your-essential-business-calendar-for-3-november-2021-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555164\" class=\"content-area-description single-story post-555164 post type-post status-publish format-standard hentry category-calendar tag-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>30 October - 4 November (Saturday-Thursday): The first edition of <a href=\"https:\/\/globalswimseries.com\/ryan-lochte-announces-first-race-the-legends-event-in-egypt\/\">Race The Legends<\/a>, Egypt.<\/p>\n<p>November: The French-Egyptian Business Forum is set to take place in the Suez Canal Economic Zone.<\/p>\n<p>November: Egypt will <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/163314772505618\">host another round of talks<\/a> to reach a potential Egyptian-Eurasian trade agreement, which can significantly contribute to increasing the volume of Egyptian exports to the Russia-led bloc that includes Armenia, Belarus, Kazakhstan and Kyrgyzstan.<\/p>\n<p>1-3 November (Monday-Wednesday): Egypt Energy exhibition on power and renewable energy, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>31 October - 12 November (Sunday-Friday): 2021 United Nations Climate Change Conference (COP26), Glasgow, United Kingdom.<\/p>\n<p>2-3 November (Tuesday-Wednesday): The Federal Reserve meets to review interest rates.<\/p>\n<p>3-5 November (Wednesday-Friday): Africa Early Stage Investor Summit.<\/p>\n<p>6 November (Saturday): Deadline to apply to Nahdet El Mahrousa\u2019s Rabeha, a women entrepreneurship <a href=\"https:\/\/l.facebook.com\/l.php?u=https%3A%2F%2Fbit.ly%2F3DWmlG5%3Ffbclid%3DIwAR0CgpdQDltgFGzhoGJmuKRr5AdNL_bxkQIE7ejiUngECbkxK-Qg3WQ1LAs&h=AT03bTcEWHO7_ifSyWY3bzUc-4W2xyBotj8E6jDvCOL2g53DHT_1O-x-6WJEHQmxMXlxAvB-DaYAdjcjN1G0nWZBboNwVUPZ69Ua7N1_VRuZTOXC_gPJRuv0i4eqb8Sxzl7K&__tn__=-UK-R&c%5B0%5D=AT1HqXk_X4HRQoevTN35Wj-0uhLHrBeazxBScbrfhO3vQVPEgiiCAGC1QpNkyytUpdrdEmhOyhxjQU2yUeKNtV12aIbQoco90gnb9pzz2WJj9o-nFnvIGq21LI5OeTpfeJZ2jrjus2lOZqRLTUHrcLXrIhu6TpLQm0zXJzSAUdUSEzwfnrSJWdcx_K8duqOHSxQSNNw\">accelerator program<\/a>.<\/p>\n<p>7-10 November (Sunday-Wednesday): Cairo ICT 2021, Egypt International Exhibition Center, New Cairo.<\/p>\n<p>8 November (Monday): <a href=\"https:\/\/www.egyptcsrforum.com\/\">Egypt CSR Forum<\/a>, International Citystars, Cairo.<\/p>\n<p>11 November (Thursday): <a href=\"https:\/\/finance.yahoo.com\/news\/vistas-media-acquisition-company-inc-203000610.html\">Deadline for Anghami SPAC acquisition<\/a>.<sup><\/sup><\/p>\n<p>15 November (Monday): Unvaccinated public sector workers employees won\u2019t be allowed into their workplaces from this date. <sup><\/sup><\/p>\n<p>15-21 November (Monday-Sunday): <a href=\"https:\/\/www.intrafricantradefair.com\/en\">Intra-African Trade Fair 2021<\/a>, Durban, KwaZulu-Natal, South Africa.<\/p>\n<p>16-17 November (Tuesday-Wednesday):<a href=\"https:\/\/africafintechsummit.com\">Africa fintech summit<\/a>, Cairo.<\/p>\n<p>18-19 November (Thursday-Friday) British royal family members Prince Charles and the Duchess of Cornwall visit Cairo.<\/p>\n<p>25-27 November (Thursday-Saturday): <a href=\"https:\/\/www.facebook.com\/events\/857701738279267\/\">RiseUp Summit<\/a>, Cairo, Egypt.<\/p>\n<p>26 November-5 December (Friday-Sunday): <a href=\"https:\/\/www.facebook.com\/CairoFilms\/photos\/a.386668088207064\/1611462495727611\/\">The 43rd Cairo International Film Festival<\/a>.<\/p>\n<p>29 November-2 December (Monday-Thursday): <a href=\"https:\/\/www.egyptdefenceexpo.com\/\">Egypt Defense Expo<\/a>, Egypt International Exhibition Centre.<\/p>\n<p>30 November (Tuesday): Launch of open call by GIZ and KfW for green project proposals in Egypt as part of their <a href=\"https:\/\/ent.news\/2021\/10\/2021-10-25_FINAL_EGY-announcement-en.pdf\">Investing for Employment facility (pdf).<\/a><\/p>\n<p>1 December (Wednesday): Unvaccinated members of the public will be banned from government buildings from this date<sup><\/sup>; unvaccinated students will be prevented from accessing university campuses.<\/p>\n<p>7-8 December (Tuesday-Wednesday): <a href=\"https:\/\/northafricatradefinance.com\/\">North Africa Trade Finance Summit<\/a>.<\/p>\n<p>8-10 December (Wednesday-Thursday): <a href=\"https:\/\/www.gfhsegypt.com\/\">Global Forum for Higher Education and Scientific Research (GFHS)<\/a>, Cairo, Egypt.<\/p>\n<p>12-14 December (Sunday-Tuesday): <a href=\"http:\/\/www.foodafrica-expo.com\/\">Food Africa Cairo<\/a> trade exhibition, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>13-17 December: United Nations Convention against Corruption, Sharm El Sheikh, Egypt.<\/p>\n<p>14-19 December (Tuesday-Sunday): <a href=\"https:\/\/www.facebook.com\/cifcet\/\">The Cairo International Festival for Experimental Theater<\/a>.<\/p>\n<p>14-15 December (Tuesday-Wednesday): The Federal Reserve meets to review interest rates.<\/p>\n<p>15 December (Wednesday): Deadline for joint stock companies and investment companies in Cairo to join e-invoicing platform.<\/p>\n<p>16 December (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/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>7 January 2022 (Friday): Coptic Christmas.<\/p>\n<p>27 January 2022 (Tuesday): National holiday in observance of 25 January revolution anniversary \/ Police Day.<\/p>\n<p>14-16 February 2022 (Monday-Wednesday): Egypt Petroleum Show, Egypt International Exhibition Center, New Cairo, Egypt.<\/p>\n<p>19 February 2022 (Saturday): Public universities begin the second term of the 2021-2022 academic year.<\/p>\n<p>1H2022: The World Economic Forum annual meeting, location TBD.<\/p>\n<p>2 April 2022 (Saturday): First day of Ramadan (TBC).<\/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>May 2022: Investment in Logistics Conference, Cairo, Egypt.<\/p>\n<p>2 May 2022 (Monday): Eid El Fitr (TBC).<\/p>\n<p>16 June 2022 (Thursday): End of 2021-2022 academic year for public schools.<\/p>\n<p>27 June-3 July 2022 (Monday-Sunday): World University Squash Championships, New Giza.<\/p>\n<p>30 June 2022 (Thursday): June 30 Revolution Day, national holiday.<\/p>\n<p>2H2022: <a href=\"https:\/\/www.ief.org\/news\/egypt-to-host-8th-ief-igu-ministerial-gas-forum-in-2022\">IEF-IGU Ministerial Gas Forum<\/a>, Egypt. Date + location TBA.<\/p>\n<p>8 July (Friday): Arafat Day.<\/p>\n<p>9-13 July (Saturday-Wednesday): Eid Al Adha, national holiday.<\/p>\n<p>30 July (Saturday): Islamic New Year.<\/p>\n<p>6 October (Thursday): Armed Forces Day, national holiday.<\/p>\n<p>8 October (Saturday): Prophet Muhammad\u2019s birthday.<\/p>\n<p>18-20 October 2022 (Tuesday-Thursday): Mediterranean Offshore Conference, Alexandria, 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":555139,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-555138","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"7e3c0f38-4b7a-48bf-b830-84071cd7ee5d","teaser":"","photo_url":"https:\/\/ent.news\/2021\/11\/300.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>Egypt not on board with yesterday\u2019s methane + deforestation COP26 pledges - 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\/egypt-not-on-board-with-yesterdays-methane-deforestation-cop26-pledges\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt not on board with yesterday\u2019s methane + deforestation COP26 pledges\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-not-on-board-with-yesterdays-methane-deforestation-cop26-pledges\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T00:47:28+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/300.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\/egypt-not-on-board-with-yesterdays-methane-deforestation-cop26-pledges\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-not-on-board-with-yesterdays-methane-deforestation-cop26-pledges\/\",\"name\":\"Egypt not on board with yesterday\u2019s methane + deforestation COP26 pledges - 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