{"id":555364,"date":"2021-11-11T04:11:21","date_gmt":"2021-11-11T04:11:21","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=555364"},"modified":"2025-12-16T00:52:58","modified_gmt":"2025-12-16T00:52:58","slug":"from-ma-and-ipos-to-capital-gains-taxes-and-a-physical-one-on-one-its-a-heck-of-a-day-for-news","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/from-ma-and-ipos-to-capital-gains-taxes-and-a-physical-one-on-one-its-a-heck-of-a-day-for-news\/","title":{"rendered":"From M&#038;A and IPOs to capital gains taxes and a physical One on One, it\u2019s a heck of a day for news"},"content":{"rendered":"<section id=\"555366\" 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=\"555366\">\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\/11\/this-morning-whats-happening-with-aldar-adqs-play-for-sodic-us-inflation-at-30-year-high-deadline-for-anghami-spac-merger\/\">\r\n                            THIS MORNING: What\u2019s happening with Aldar-ADQ\u2019s play for SODIC? US inflation at 30-year high; Deadline for Anghami SPAC merger.                        <\/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\/11\/this-morning-whats-happening-with-aldar-adqs-play-for-sodic-us-inflation-at-30-year-high-deadline-for-anghami-spac-merger\/\" 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\/11\/this-morning-whats-happening-with-aldar-adqs-play-for-sodic-us-inflation-at-30-year-high-deadline-for-anghami-spac-merger\/')\">\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\/11\/this-morning-whats-happening-with-aldar-adqs-play-for-sodic-us-inflation-at-30-year-high-deadline-for-anghami-spac-merger\/\">\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=THIS MORNING: What\u2019s happening with Aldar-ADQ\u2019s play for SODIC? US inflation at 30-year high; Deadline for Anghami SPAC merger.&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/this-morning-whats-happening-with-aldar-adqs-play-for-sodic-us-inflation-at-30-year-high-deadline-for-anghami-spac-merger\/\">\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\/11\/this-morning-whats-happening-with-aldar-adqs-play-for-sodic-us-inflation-at-30-year-high-deadline-for-anghami-spac-merger\/&title=THIS MORNING: What\u2019s happening with Aldar-ADQ\u2019s play for SODIC? US inflation at 30-year high; Deadline for Anghami SPAC merger.\">\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=THIS+MORNING%3A+What%E2%80%99s+happening+with+Aldar-ADQ%E2%80%99s+play+for+SODIC%3F+US+inflation+at+30-year+high%3B+Deadline+for+Anghami+SPAC+merger.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F11%2Fthis-morning-whats-happening-with-aldar-adqs-play-for-sodic-us-inflation-at-30-year-high-deadline-for-anghami-spac-merger%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\/11\/this-morning-whats-happening-with-aldar-adqs-play-for-sodic-us-inflation-at-30-year-high-deadline-for-anghami-spac-merger\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555366\" class=\"content-area-description single-story post-555366 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-adq tag-aldar-properties tag-amazon tag-anghami tag-enterpriseam tag-evs tag-inflation tag-ma-watch tag-real-estate tag-sodic tag-spacs tag-uae tag-us tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Good morning, wonderful people. <\/strong>We\u2019ve nearly made it through another workweek together, and our reward is a blockbuster issue on a morning that\u2019s simply jam-packed with news.<\/p><p><strong>SOMETHING THAT DELIGHTED US this morning: EFG Hermes is hosting a PHYSICAL <\/strong><strong>One on One. <\/strong>Save the dates went out yesterday for the sixteenth edition of the world\u2019s largest investor conference focused on frontier emerging markets. The gathering will take place in Dubai from 28 February through 3 March. We\u2019re looking forward to seeing many of you there.<\/p><p><strong>More and more foreign investors are coming to Egypt these days to kick the tires <\/strong><strong>on potential investments. <\/strong>Fund managers and strategics alike are arriving in numbers we haven\u2019t seen in at least four years to talk with local management teams, according to friends on the buy- and sell-sides as well as top corporates. They\u2019re coming individually and in quietly-organized roadshows. There\u2019s a palpable change in sentiment taking place right now, and we really hope global sentiment holds up at what\u2019s increasingly feeling like an inflection point. <strong>After nearly two years of isolation, there\u2019s no better time to hear that we\u2019re going to be meeting face to face in Dubai.<\/strong><\/p><p><strong>THINGS MAKING US SMILE on this fine morning: <\/strong>Vodafone Egypt is indeed going to be part South African-owned, it seems. ALSO: a Saudi tech company is moving its operations lock, stock and barrel to Egypt \u2014 so it can IPO on the EGX.<\/p><p><strong>SMART POLICY- <\/strong>The government is moving to minimize the impact of the capital gains tax on the EGX ahead of the measure coming into effect on 1 January. The measures also suggest the government wants to make life a bit easier for listed companies. Interestingly, the statement outlining a wide basket of measures is couched in language that suggest policymakers understand the long-term importance to the economy of functional capital markets.<\/p><p><strong>*** AND A HUGE WELCOME THIS MORNING to <\/strong><strong><a href=\"https:\/\/www.abuauf.com\/\">our friends at Abu Auf<\/a><\/strong>, the healthy foods brand, who join us this morning as the sponsor of our very popular My Morning Routine section. The generous support of companies including Abu Auf ensure not just that we keep the A\/Cs running and team fed here at Enterprise World Headquarters, but also that your favourite morning read remains available to you free of charge every weekday around 6am CLT. Thank you, all.<\/p><p><strong>WHAT\u2019S HAPPENING TODAY- <\/strong><\/p><p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a><strong> Where do things stand with the <\/strong><strong>Aldar-ADQ acquisition of SODIC?<\/strong> It\u2019s now been almost<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/248e5d41-7c58-42ed-abe9-f67d9ac74995\">two<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/248e5d41-7c58-42ed-abe9-f67d9ac74995\">months<\/a> since we have heard anything official on the mandatory tender offer that the UAE\u2019s Aldar Properties and Abu Dhabi\u2019s sovereign wealth fund ADQ launched to acquire 90% of upmarket real estate developer SODIC. We reached out yesterday to the parties involved for an update on what would be a landmark inbound M&amp;A for the real estate sector.<\/p><p><strong>The transaction is now on the desk of the Financial Regulatory Authority (FRA)<\/strong>, we were told, and we reached out to the FRA to understand where things stand. An official, speaking on condition they not be named, told us there are procedural matters in the balance and that more information would be forthcoming in the form of an announcement when the regulator is ready. The official would not comment on when to expect the approval process to wrap up, nor would they specify what the FRA is looking into.<\/p><p><strong>The concern is that significant further delay could pose a risk to the transaction<\/strong>, a source close to the matter told Enterprise.<\/p><p><strong>The acquisition has been in the works now for over eight months: <\/strong>Aldar submitted a non-binding offer back in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/65445c53-bf8c-4144-8e37-6daa4e7031c0\">March<\/a> to acquire at least 51% of Sodic\u2019s shares in an offer that initially valued the company at EGP 6.6 bn.<\/p><p><strong>What\u2019s at stake?<\/strong> The all-cash offer saw the consortium \u2014 which is 70% controlled by Al Dar and 30% owned by ADQ \u2014 up its offer to EGP 20.00 per share from a previous range of EGP 18.00-19.00, and values SODIC at EGP 7.1 bn (USD 453 mn). Sodic\u2019s shares on the EGX closed yesterday at EGP 17.90.<\/p><p><strong>The transaction could be good news for the industry<\/strong>, Karim Nehma, managing partner at Act Financial, told us back when the MTO was announced. Nehma suggested there has been a view that real estate players are undervalued and that the industry has been lagging. Activist investor Act holds a 15% stake in Sodic, making it the developer\u2019s largest effective shareholder. Olayan Saudi Investment holds 14%, while the Abanumay family has 10% and Ripplewood 9%.<\/p><p><strong>And then there\u2019s the fact that ADQ and Aldar have both telegraphed they have lots of <\/strong><strong>appetite for Egypt: <\/strong>The SODIC transaction \u201cis a part of Aldar\u2019s overall expansion strategy into the attractive Egyptian real estate market, with Aldar currently assessing several opportunities,\u201d Aldar said in <a href=\"https:\/\/ent.news\/2021\/9\/Aldar-Press-Release-MTO-for-SODIC-shares-EN-14.09.21-FINAL-1.pdf\">a disclosure (pdf)<\/a> a few months back. ADQ, meanwhile, has mounted bids for drugmaker <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/963f2cc8-97fe-4ad7-a4ca-650c06117651\">Amoun<\/a> (in partnership with the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/038b5368-d8ee-43f4-86e7-31a202c5bba7\">Sovereign Fund of Egypt<\/a>) and food outfit <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/15f1f0f7-1f9c-4a4b-b4e2-2e2621917391\">Atyab<\/a>, among others.<\/p><p><strong>ALSO TODAY- It\u2019s the deadline for the Anghami SPAC merger:<\/strong> Anghami\u2019s <a href=\"https:\/\/finance.yahoo.com\/news\/vistas-media-acquisition-company-inc-203000610.html\">deadline<\/a> to pull the trigger on a merger with blank-check firm Vista Media Acquisition Company and list on the Nasdaq expires today. The company had previously extended the deadline in August and there\u2019s been silence in the period since.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p><strong>THE BIG STORIES ABROAD-<\/strong><\/p><p><strong>US inflation hit levels not seen for more than 30 years last month \u2014 and stocks are not <\/strong><strong>happy.<\/strong> Scroll down to this morning\u2019s Planet Finance for the story, which is leading the front pages in the financial press this morning: <a href=\"https:\/\/www.ft.com\/content\/5a5a7e5f-4207-4de1-9432-002f96de67bb\">FT<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/us-inflation-consumer-price-index-october-2021-11636491959\">Wall Street Journal<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-11-10\/inflation-builds-with-biggest-gain-in-consumer-prices-since-1990\">Bloomberg<\/a>.<\/p><p><strong>Amazon-backed EV startup <\/strong><strong><a href=\"https:\/\/rivian.com\/\">Rivian<\/a><\/strong><strong> could raise as much as USD 11.9 bn from its <\/strong><strong>upcoming IPO<\/strong> after pricing its shares at USD 78.00 apiece \u2014 above the initial range of USD 72.00-74.00 it previously announced, according to the <a href=\"https:\/\/www.ft.com\/content\/e2fb010f-0d29-4e80-8ad7-797973d463f7\">Financial Times<\/a>. This would be the largest amount raised by a US company in an IPO since Facebook went public in 2012 and the seventh-largest in the history of US stock exchanges. The pricing gives Rivian a market valuation of around USD 77 bn on a fully diluted basis, the <a href=\"https:\/\/www.wsj.com\/articles\/rivian-prices-ipo-at-78-above-raised-target-range-11636502188?mod=hp_lead_pos1\">Wall Street Journal<\/a> says.<\/p><p><strong>Rivian isn\u2019t in the black yet:<\/strong> The company\u2019s losses widened in 1H2021 to USD 1 bn and it expects to continue posting losses over the next several years until it ramps up production.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/adq\/\">ADQ<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aldar-properties\/\">Aldar Properties<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/amazon\/\">Amazon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/anghami\/\">Anghami<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sodic\/\">SODIC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555367\" 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=\"555367\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/555367\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555367\" class=\"content-area-description single-story post-555367 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\/11\/SOMA-ENTERPRISE-GOLFNIGHT-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555368\" 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=\"555368\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/give-me-the-green-light\/\">\r\n                            Give me the green light                        <\/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\/11\/give-me-the-green-light\/\" 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 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data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/411.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/411.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555368\" class=\"content-area-description single-story post-555368 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-cit tag-earnings tag-earnings-watch tag-enterpriseam tag-ma-watch tag-south-africa tag-telecom-egypt tag-vodacom tag-vodafone-egypt tag-vodafone-group wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a><strong> Vodafone Group has agreed to transfer its 55% stake in Vodafone Egypt to <\/strong><strong>Vodacom<\/strong>, its sub-Saharan African subsidiary, in a EUR 2.72 bn transaction, according to a <a href=\"https:\/\/www.vodafone.com\/news\/press-release\/egypttransfer\">company statement<\/a>. The move will \u201csimplify\u201d the management of its African holdings, according to the UK-based parent company. The South Africa-based telecommunications company said it intends to settle 80% of the transaction by issuing new shares, with the remaining 20% settled in cash. Enterprise reached out to Vodafone Egypt yesterday, but was unable to reach a representative for comment before dispatch time. <strong>The transaction is expected to conclude before 31 March 2022<\/strong>, Vodafone Group said in its statement.<\/p>\n<p><strong>What are the next steps?<\/strong> A committee of Vodacom's independent non-executive directors has unanimously approved the transaction and the matter will now require approval from minority shareholders representing 39.5% of the Vodacom shares. Beyond the usual waffle words on conditions precedent, the transactions till needs regulatory approval from Egypt\u2019s National Telecommunications Regulatory Authority (NTRA) as well as the Financial Surveillance Department of the South African Reserve Bank.<\/p>\n<p><strong>Things are already in motion here:<\/strong> Vodafone Egypt expects to submit a formal request to the NTRA to change the company's ownership structure by Sunday, head of the telecom company\u2019s legal affairs, Ayman Essam, told <a href=\"https:\/\/bit.ly\/3qpVtL3\">Hapi Journal<\/a>. The transaction would not entail making any changes to the Vodafone Egypt brand, Essam separately told <a href=\"https:\/\/bit.ly\/3kr1Mu1\">Al Mal<\/a>.<\/p>\n<p><strong>Don\u2019t expect Telecom Egypt to get in the way:<\/strong> The EGX-listed telecoms giant still holds a 45% stake in Vodafone Egypt and contractually has a right of first refusal, which would allow it to make a counter-offer. However, <strong>the company doesn\u2019t plan to invoke this right<\/strong>, Investor Relations head Sarah Shabayek told Enterprise. TE already signed off on the restructuring after being notified of the agreement back in June. \u201cWe sealed several rights and benefits in advance of the agreement,\u201d Shabayek told us. Vodacom has committed to Vodafone that they will sign a deed of adherence to the shareholders' agreement with Telecom Egypt, according to <a href=\"https:\/\/ir.te.eg\/en\/CorporateNews\/PressRelease\/151\/Vodafone-Egypt-informs-Telecom-Egypt-of-Vodafone-Group-s-receipt-of-an-initial-offer-to-transfer-its-stake-to-Vodacom\">a statement<\/a>.<\/p>\n<p><strong>EARNINGS WATCH-<\/strong><\/p>\n<p><strong>Telecom Egypt generated EGP 2.2 bn in net income during 3Q2021<\/strong>, up 51% from the same period a year earlier, according to the company\u2019s <a href=\"https:\/\/ent.news\/2021\/11\/Earnings_Releasef4261060-c7bf-4e82-8764-ef8be69c3bdf.pdf\">earnings release (pdf)<\/a>. Revenues at the state-owned company rose 22% y-o-y to EGP 9.0 bn during the three-month period.<\/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\/cit\/\">CIT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings\/\">earnings<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/south-africa\/\">South Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/telecom-egypt\/\">Telecom Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vodacom\/\">Vodacom<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vodafone-egypt\/\">Vodafone Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vodafone-group\/\">Vodafone Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555370\" 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=\"555370\">\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\">EGX<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/cabinet-announces-basket-of-measures-to-make-egx-more-attractive-to-investors-companies\/\">\r\n                            Cabinet announces basket of measures to make EGX more attractive to investors, companies                        <\/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\/11\/cabinet-announces-basket-of-measures-to-make-egx-more-attractive-to-investors-companies\/\" 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\/11\/cabinet-announces-basket-of-measures-to-make-egx-more-attractive-to-investors-companies\/')\">\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\/11\/cabinet-announces-basket-of-measures-to-make-egx-more-attractive-to-investors-companies\/\">\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=Cabinet announces basket of measures to make EGX more attractive to investors, companies&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/cabinet-announces-basket-of-measures-to-make-egx-more-attractive-to-investors-companies\/\">\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\/11\/cabinet-announces-basket-of-measures-to-make-egx-more-attractive-to-investors-companies\/&title=Cabinet announces basket of measures to make EGX more attractive to investors, companies\">\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=Cabinet+announces+basket+of+measures+to+make+EGX+more+attractive+to+investors%2C+companies+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F11%2Fcabinet-announces-basket-of-measures-to-make-egx-more-attractive-to-investors-companies%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\/11\/cabinet-announces-basket-of-measures-to-make-egx-more-attractive-to-investors-companies\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555370\" class=\"content-area-description single-story post-555370 post type-post status-publish format-standard hentry category-egx tag-e-finance tag-egx tag-enterpriseam tag-financial-regulatory-authority tag-investment-watch tag-ipo-watch tag-mohamed-farid 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>Trading on the EGX is about to get more affordable:<\/strong> The Madbouly government <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/269546551882439\">has<\/a><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/269546551882439\">announced<\/a> a package of EGX tax cuts and fee reductions to support trading on the bourse ahead of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fc92b9f8-5427-446f-a7dc-2960cc4d17a4\">introduction of the capital gains tax<\/a> on resident investors next year.<\/p>\n<p><strong>Investors are going to be paying less in fees:<\/strong> Trading and clearance fees, as well fees paid to the Financial Regulatory Authority and the Investor Protection Fund, will all be reduced, cabinet said in the statement, without disclosing figures.<\/p>\n<p><strong>And all of the fees will be tax-deductible:<\/strong> All fees will be classified as expenses, meaning investors paying taxes here will be allowed to use them to offset their tax bill.<\/p>\n<p><strong>A sweetener for folks (that would be just about everyone in the market) hating on the capital gains tax?<\/strong> The government is looking to cushion the blow for shareholders who have owned stock for a long period of time \u2014 who through investment style and good fortune would literally be buying low and selling high \u2014 by tweaking how capital gains are calculated.<\/p>\n<p><strong>Huh? Whaddya mean? <\/strong>A 10% capital gains tax would typically be calculated on the delta between the price at which the investor sold and the price at which she bought. But the government is planning to propose a grandfather clause that could cushion the impact of the tax on people who held shares at the time the tax comes in.<\/p>\n<p><strong>How would that work?<\/strong> For shares you own on the date the grandfather clause comes into effect, the capital gains tax would be calculated based on the selling price minus the price of the share when you bought it <strong>or <\/strong>when the measure came into effect \u2014 whichever was higher.<\/p>\n<p><strong>How does that help? Without the grandfather clause: <\/strong>Let\u2019s say you bought one share of EGX-listed ZFT Co twenty years ago at EGP 1.00 \u2014 and sell it this year at EGP 15.00. Your gain is EGP 14.00, and the government wants EGP 1.40 from you, please and thank you. <strong>With the grandfather clause: <\/strong>If ZFT\u2019s share price was EGP 12.00 at the time the law was enacted, then your gain is EGP 2.00 \u2014 and the government wants just EGP 0.20 from you.<\/p>\n<p><strong>The path forward is still a bit opaque: <\/strong>We do note that the statement doesn\u2019t use the words \u201ccapital gains tax,\u201d which cabinet now seems to understand is financial kryptonite. It also does not make clear whether the grandfather clause would require legislation or if it will be enacted as a regulation.<\/p>\n<p><strong>BACKGROUND- <\/strong>The securities industry and investors have come out in opposition to the government\u2019s plan to introduce a 10% capital gains tax on net portfolio earnings starting 1 January 2022, and have warned that the additional tax would stunt trading volumes and further weigh on foreign investment on the bourse. Lawmakers in both <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7f448a03-0764-4c16-a6b8-f08b9a5643e9\">the House<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/40c1f28e-7588-4f32-9e00-4c054f19315a\">the Senate<\/a> have been suggesting the tax needs to be reconsidered.<\/p>\n<p><strong>More tax breaks:<\/strong> The plans will slash tax charged on share swap transactions from 22% to 10%, while tax paid by retail traders on earnings from mutual funds will drop to 5%. There will also be measures in place to mitigate the tax implications of capital increases.<\/p>\n<p><strong>Tax incentives to promote capex:<\/strong> Companies will pay no tax on share price gains used to fund capital expenditure in an effort to encourage firms to expand.<\/p>\n<p><strong>Support for newly-listed companies:<\/strong> Investors will receive a 50% tax deduction on income derived from trading the shares of companies that have recently IPOed on the bourse, a move designed to boost liquidity for new companies on the exchange and encourage more businesses to list.<\/p>\n<p><strong>This isn\u2019t the first time in recent period officials have amended the rules in efforts to attract investors: <\/strong>Back in September, the Financial Regulatory Authority (FRA) announced new <a href=\"https:\/\/ent.news\/2021\/9\/EGX-listing-amendment-Sept21.pdf\">new listing amendments (pdf)<\/a> to reduce the amount of capital that companies need to offer to the public in efforts to encourage share sales on the Egyptian bourse.<\/p>\n<p><strong>Also in the package:<\/strong><\/p>\n<ul>\n<li><strong>Opportunity cost is now tax-deductible: <\/strong>Policymakers will come up with a calculation to determine the equivalent of the opportunity cost taken by investors when they choose to put their money into the EGX, which will then be deducted from their taxable income.<\/li>\n<li><strong>A solution for dual taxation?<\/strong> The authorities are also working on a solution to the issue of the double taxation of the parent company and its subsidiaries if both are listed on the EGX. Currently subsidies\u2019 bourse earnings make onto both, the subsidiary and its parent company\u2019s tax bases.<\/li>\n<li><strong>More breaks and services ahead? <\/strong>The government will establish a unit within the General Investment Authority to resolve any issues faced by listed companies and work to encourage more companies to list on the exchange.<\/li>\n<\/ul>\n<p><strong>For more:<\/strong> Check out EGX boss Mohamed Farid\u2019s appearance on the air waves last night, during which he walked us through the amendments (<a href=\"https:\/\/www.youtube.com\/watch?v=aM7eWYmRxw0\">watch, runtime: 8:18<\/a>).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-finance\/\">e-finance<\/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\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-farid\/\">Mohamed Farid<\/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=\"555371\" 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=\"555371\">\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\/11\/saudis-brmaja-could-debut-on-the-egx-as-it-eyes-a-new-home-base-in-cairo\/\">\r\n                            Saudi\u2019s Brmaja could debut on the EGX as it eyes a new home base in Cairo                        <\/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\/11\/saudis-brmaja-could-debut-on-the-egx-as-it-eyes-a-new-home-base-in-cairo\/\" 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\/11\/saudis-brmaja-could-debut-on-the-egx-as-it-eyes-a-new-home-base-in-cairo\/')\">\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\/11\/saudis-brmaja-could-debut-on-the-egx-as-it-eyes-a-new-home-base-in-cairo\/\">\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=Saudi\u2019s Brmaja could debut on the EGX as it eyes a new home base in Cairo&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/saudis-brmaja-could-debut-on-the-egx-as-it-eyes-a-new-home-base-in-cairo\/\">\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\/11\/saudis-brmaja-could-debut-on-the-egx-as-it-eyes-a-new-home-base-in-cairo\/&title=Saudi\u2019s Brmaja could debut on the EGX as it eyes a new home base in Cairo\">\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=Saudi%E2%80%99s+Brmaja+could+debut+on+the+EGX+as+it+eyes+a+new+home+base+in+Cairo+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F11%2Fsaudis-brmaja-could-debut-on-the-egx-as-it-eyes-a-new-home-base-in-cairo%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\/11\/saudis-brmaja-could-debut-on-the-egx-as-it-eyes-a-new-home-base-in-cairo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/412.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"555372\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/saudis-brmaja-could-debut-on-the-egx-as-it-eyes-a-new-home-base-in-cairo\/412-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/412.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"412.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/412.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/412.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555371\" class=\"content-area-description single-story post-555371 post type-post status-publish format-standard has-post-thumbnail hentry category-ipo-watch tag-brmaja tag-enterpriseam tag-ipo-watch tag-ma-watch tag-saudi-arabia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Saudi tech firm <\/strong><strong><a href=\"https:\/\/brmaja.com\">Brmaja is<\/a><\/strong><strong> looking to list 20% of its <\/strong><strong>shares on the EGX <\/strong><strong>next March<\/strong>, investment director<sup><\/sup> Ahmed Said told Enterprise, confirming a story first reported by <a href=\"https:\/\/bit.ly\/3qpUKK3\">Masrawy<\/a>. The digital marketing and tech firm has submitted a listing request to the Financial Regulatory Authority and has been in talks with officials on the IPO for the past six months. The company expects to raise more than EGP 400 mn through the sale, Said said.<\/p>\n<p><strong>Brmaja is making Egypt its central hub through several acquisitions: <\/strong>The Saudi parent company has two wholly-owned subsidiaries currently operating in Egypt, Brmaja IT and Brmaja Innovation. Brmaja IT will acquire the Saudi firm in a reverse acquisition ahead of the bourse listing, bringing the company\u2019s issued capital to EGP 100 mn or more, and therefore make it eligible for listing on the EGX rather than the small-cap Nilex. Once it goes public, the new merged entity will acquire Brmaja Innovation before going on to acquire all remaining Brmaja subsidiaries across Dubai and Africa. The plan will see all of Brmaja\u2019s operations run out of its Cairo headquarters by the end of the first half of 2022, according to Saeed.<\/p>\n<p><strong>Why is Brmaja choosing Egypt as its home? <\/strong>The company has only been active in the country for two years, but last year embarked on a strategy to \u201cconcentrate our ecosystems in Egypt as a center and main hub,\u201d Said said. It invested more than EGP 28 mn here last year, and wants to make the local market its first priority.<\/p>\n<p><strong>\u064bWhat does the company do? <\/strong>Brmaja for IT runs five or six platforms across the education, health and e-commerce sectors, while Brmaja for Innovation has signed a number of protocols with government agencies and Egypt Post to provide them with digital systems.<\/p>\n<p><strong>More like this, please: <\/strong>We\u2019ve been saying for years that Egypt\u2019s low cost base relative to GCC, abundant human talent, huge domestic market and proximity to key export markets make us a great regional headquarters.<\/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\/brmaja\/\">Brmaja<\/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\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555373\" 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=\"555373\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/annual-inflation-cools-from-20-month-high\/\">\r\n                            Annual inflation cools from 20-month high                        <\/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\/11\/annual-inflation-cools-from-20-month-high\/\" 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\/11\/annual-inflation-cools-from-20-month-high\/')\">\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\/11\/annual-inflation-cools-from-20-month-high\/\">\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=Annual inflation cools from 20-month high&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/annual-inflation-cools-from-20-month-high\/\">\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\/11\/annual-inflation-cools-from-20-month-high\/&title=Annual inflation cools from 20-month high\">\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=Annual+inflation+cools+from+20-month+high+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F11%2Fannual-inflation-cools-from-20-month-high%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\/11\/annual-inflation-cools-from-20-month-high\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/414.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"555374\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/annual-inflation-cools-from-20-month-high\/414-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/414.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"414.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/414.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/414.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555373\" class=\"content-area-description single-story post-555373 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-capmas tag-central-bank-of-egypt tag-economy tag-enterpriseam tag-food-and-beverage tag-inflation tag-interest-rates tag-supply-chain wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-04\" class=\"content-anchor\"><\/a> <strong>A<\/strong><strong>nnual urban inflation <\/strong><strong>f<\/strong><strong>ell back from its 20-month high in October<\/strong> as the rate of increase in food prices dipped from the month prior, according to <a href=\"https:\/\/bit.ly\/30fYZgr\">official figures (pdf)<\/a> released yesterday by state statistics agency Capmas. Urban inflation slipped to 6.3%, down from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9734c255-82fb-4ede-9084-de53f4dbb70d\">6.6% in September<\/a>, which was the highest reading since January 2020.<\/p>\n<p><strong>Why the dip? A serious slowdown in non-food inflation<\/strong>, which fell to 3.7% from 4.6% in September. This is the slowest pace in more than a decade, according to Capital Economics which attributed the fall to a decrease in rents and slower clothing and education inflation.<\/p>\n<p><strong>But food prices continued to accelerate:<\/strong> The slowdown elsewhere offset food and beverage prices, which rose to 11.5% on an annual basis in October from 10.5% the month before, the highest level in two years, according to Capital Economics.This was primarily driven by a 4.6% increase in red meat and poultry prices.<\/p>\n<p><strong>Housing utilities and gas prices inched up 3.1%<\/strong> on the back of a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/390900ee-1b5c-47ff-89a3-2a7cc122897e\">third hike in fuel prices<\/a> this year, while recreation and culture jumped by 14.7%, the biggest increase in urban inflation for the month.<\/p>\n<p><strong>But don\u2019t let the favorable base effect fool you:<\/strong> Inflation continued to accelerate on a monthly basis, rising to 1.5% in October from 1.1% the month before. This was driven by a 12.7% rise in education prices and a 6% hike in the recreation segment. Unlike the annual figures, food prices rose at a slower rate, falling to 1% from 3.5% in September.<\/p>\n<p><strong>Annual core inflation rose to 5.2% during the month<\/strong>, up from 4.8% the previous month, <a href=\"https:\/\/ent.news\/2021\/11\/CPI_press-release_Oct-2021.pdf\">central bank figures (pdf)<\/a> showed. Monthly core inflation came in at 2.1%, up from 1.7% in September. Core inflation strips out volatile items from the basket of goods such as food and fuel.<\/p>\n<p><strong>Expectations were mixed ahead of the release<\/strong>: Al Ahly Pharos originally forecasted the annual rate to rise to 6.8%, a prediction that it said was missed to lower-than-expected education inflation. Beltone Financial, meanwhile, wrote that the figures came in line with its estimates.<\/p>\n<p><strong>Inflation is set to increase in the medium term:<\/strong> \u201cWe expect headline inflation to continue gaining momentum in 4Q21e as the rise in global commodity prices starts to reflect gradually in the domestic market coupled with base effect,\u201d Beltone\u2019s Alia Mamdouh wrote in a note following the release. Meanwhile, Capital Economics thinks inflation could stay within the 6-6.5% range over the next months and into early 2022.<\/p>\n<p><strong>The CBE is still expected to keep rates on hold till the end of year: <\/strong>Inflation remains within CBE\u2019s target range of 7% (\u00b12%), but rising global and domestic prices indicate that the Central Bank of Egypt will maintain its cautious approach and keep interest rates on hold during its final meeting this year on 16 December, according to Beltone. This would maintain our lucrative carry trade, which could be under threat following the recent Fed taper and the subsequent US interest rate hike likely to happen <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c4ae44af-04bd-4cff-b27b-4fe14f56b0c3\">next year<\/a>.<\/p>\n<p><strong>Looking further ahead: <\/strong>Inflation could drop back toward the lower end of CBE\u2019s target 7% (+\/-2%) range in 2Q2022, Capital Economics adds in its note. This could give policymakers a chance to cut the overnight deposit rate to as low as 6.75% \u2014 from 8.25% at present \u2014 by end-2023.<\/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\/capmas\/\">CAPMAS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/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\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/supply-chain\/\">supply chain<\/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=\"555375\" 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=\"555375\">\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\">REGULATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/more-sectors-angling-for-exemption-from-private-sector-min-wage\/\">\r\n                            More sectors angling for exemption from private sector min wage                        <\/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\/11\/more-sectors-angling-for-exemption-from-private-sector-min-wage\/\" 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\/11\/more-sectors-angling-for-exemption-from-private-sector-min-wage\/')\">\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\/11\/more-sectors-angling-for-exemption-from-private-sector-min-wage\/\">\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 sectors angling for exemption from private sector min wage&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/more-sectors-angling-for-exemption-from-private-sector-min-wage\/\">\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\/11\/more-sectors-angling-for-exemption-from-private-sector-min-wage\/&title=More sectors angling for exemption from private sector min wage\">\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+sectors+angling+for+exemption+from+private+sector+min+wage+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F11%2Fmore-sectors-angling-for-exemption-from-private-sector-min-wage%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\/11\/more-sectors-angling-for-exemption-from-private-sector-min-wage\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/415.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"555376\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/more-sectors-angling-for-exemption-from-private-sector-min-wage\/415-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/415.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"415.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/415.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/415.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555375\" class=\"content-area-description single-story post-555375 post type-post status-publish format-standard has-post-thumbnail hentry category-regulation-watch tag-enterpriseam tag-federation-of-egyptian-chambers-of-commerce tag-hala-el-said tag-labor tag-minimum-wage tag-planning-ministry tag-policy tag-regulation-watch 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>Business leaders want to exempt companies in eight sectors from complying with <\/strong><sup><\/sup><strong>the <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5a48e903-d707-4969-9ab6-be99c9b3cb91\">new private<\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5a48e903-d707-4969-9ab6-be99c9b3cb91\">sector minimum wage<\/a><\/strong>, which will take effect at the beginning of 2022. The Federation of Egyptian Chambers of Commerce (Fedcoc) has handed a formal request to Planning Minister Hala El Said requesting that businesses in the healthcare, building materials, construction, pharma, education, security services, and workers\u2019 expatriation services be given a pass from paying the new wage, it said in <a href=\"https:\/\/bit.ly\/3D94onU\">a statement<\/a> yesterday. From 1 January all private sector companies will be required to pay their employees a minimum wage of EGP 2.4k per month.<\/p>\n<p><strong>The reasoning:<\/strong> The federation cites these sectors\u2019 high employee count and the nature of their employment, high production costs in some instances, and the negative impacts of covid-19 on business. Employers in these sectors are already paying wages that average 25% of production costs, higher than the global standard of 15-19%, according to the letter. Applying a minimum wage would raise the figure to some 30%, which could drive some of them out of the market. Many companies in those industries also use seasonal labor, youth workers that often need costly training, and a large number of blue collar workers.<\/p>\n<p><strong>Other proposals target partial and temporary exemptions: <\/strong>The federation alternatively suggested excluding 40% of the blue collar support jobs that don\u2019t contribute directly to production lines from the minimum wage and excluding new hires for their first 12 months of employment. The commerce federation is also calling for a clearer definition of the minimum wage to differentiate between fixed and variable wages and factor in other non-cash benefits and other bonuses workers sometimes receive.<\/p>\n<p><strong>There are other sectors that already asked for exemptions:<\/strong> Notably, the Egyptian Tourism Federation argues that companies it represents have yet to fully recover from their covid-19 setback. The industry lobby group fielded a similar set of demands of the commerce federation to the National Council for Wages <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c9f32cf0-5cd2-4c05-b43d-461c051dab1d\">last month<\/a>.<\/p>\n<p><strong>Background: <\/strong>Employees of private-sector companies will for the first time receive a minimum wage of at least EGP 2.4k starting January 2022 when the minimum wage comes into effect. The decision means higher labor costs and larger contributions to the nation\u2019s Social Ins. Authority when it goes into effect. Companies have until the end of this month to submit a request to the National Wages Council if they claim they cannot afford the wage hike.<\/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\/federation-of-egyptian-chambers-of-commerce\/\">Federation of Egyptian Chambers of Commerce<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hala-el-said\/\">Hala El Said<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/labor\/\">labor<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/minimum-wage\/\">minimum wage<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planning-ministry\/\">Planning Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/policy\/\">policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/regulation-watch\/\">regulation 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=\"555377\" 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=\"555377\">\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\">Transport<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/egypt-inks-new-transport-agreements-with-local-foreign-companies\/\">\r\n                            Egypt inks new transport agreements with local, foreign companies                        <\/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\/11\/egypt-inks-new-transport-agreements-with-local-foreign-companies\/\" 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\/11\/egypt-inks-new-transport-agreements-with-local-foreign-companies\/')\">\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\/11\/egypt-inks-new-transport-agreements-with-local-foreign-companies\/\">\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 inks new transport agreements with local, foreign companies&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/egypt-inks-new-transport-agreements-with-local-foreign-companies\/\">\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\/11\/egypt-inks-new-transport-agreements-with-local-foreign-companies\/&title=Egypt inks new transport agreements with local, foreign companies\">\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+inks+new+transport+agreements+with+local%2C+foreign+companies+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F11%2Fegypt-inks-new-transport-agreements-with-local-foreign-companies%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\/11\/egypt-inks-new-transport-agreements-with-local-foreign-companies\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555377\" class=\"content-area-description single-story post-555377 post type-post status-publish format-standard hentry category-transport tag-enterpriseam tag-infrastructure tag-transport tag-transport-ministry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-07\" class=\"content-anchor\"><\/a> <strong>Guess what isn\u2019t in short supply right now: Transport agreements<\/strong>, yet more of which were signed yesterday on the final day of the TransMea conference, the Transport Ministry <a href=\"https:\/\/www.facebook.com\/MinistryTransportation\/posts\/194562922840772?__cft__[0]=AZVSkCdlKKY0_pX_McJgs3rVowQvgguWKAxNar6ldzYOkPwgNDwW4AfH83KFVwvsl1pKBCbR_X4_LcXN4jXuz2-0RVTNtBdm6mFHOAwtvxp2pQiCs1704sH9V823qTIgXTYt7lKCoW4O7VxmtEfSTAtw&__tn__=%2CO%2CP-R\">said<\/a>. The agreements included a EUR 8 mn grant signed with the European Commission to upgrade the Raml tram overground line in Alexandria, an MoU with Hong Kong\u2019s Hutchison Port to operate a multi-purpose station in Dekheila Port and revamp infrastructure at Ain Sokhna Port, and a EGP 200 mn contract between SuperJet and mass transport operator Mwasalat Misr to set up a new smart transport route in the new administrative capital. Another agreement involved the ministry\u2019s dry ports authority contracting with Samcrete to study a new dry port project in Sohag.<\/p>\n<p><strong>Chinese company on board to maintain new capital electric rail line:<\/strong> A EGP 1 bn contract was signed between the Aviation Industry Corporation of China (Avic) and the National Authority for Tunnels which will see the Chinese firm carry out maintenance works on the planned <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/03c8bdc6-d133-43b4-9496-34fb2f55be97\">electric rail line linking Salam City and Tenth of Ramadan City<\/a> for 12 years, according to <a href=\"https:\/\/alborsaanews.com\/2021\/11\/10\/1480367\">Al Borsa<\/a>.<\/p>\n<p><strong>There\u2019s a lot more where that came from:<\/strong> Get all the info on the other 21 agreements that were signed during the conference in this week\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3a59711e-961d-4304-9ac3-b76ecef25fbc\">Hardhat<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport-ministry\/\">Transport Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555378\" 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=\"555378\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/grocery-delivery-app-rabbit-raises-usd-11-mn-pre-seed-round\/\">\r\n                            Grocery delivery app Rabbit raises USD 11 mn pre-seed round                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/grocery-delivery-app-rabbit-raises-usd-11-mn-pre-seed-round\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/grocery-delivery-app-rabbit-raises-usd-11-mn-pre-seed-round\/')\">\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\/11\/grocery-delivery-app-rabbit-raises-usd-11-mn-pre-seed-round\/\">\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=Grocery delivery app Rabbit raises USD 11 mn pre-seed round&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/grocery-delivery-app-rabbit-raises-usd-11-mn-pre-seed-round\/\">\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\/11\/grocery-delivery-app-rabbit-raises-usd-11-mn-pre-seed-round\/&title=Grocery delivery app Rabbit raises USD 11 mn pre-seed round\">\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=Grocery+delivery+app+Rabbit+raises+USD+11+mn+pre-seed+round+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F11%2Fgrocery-delivery-app-rabbit-raises-usd-11-mn-pre-seed-round%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\/11\/grocery-delivery-app-rabbit-raises-usd-11-mn-pre-seed-round\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/417.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"555379\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/grocery-delivery-app-rabbit-raises-usd-11-mn-pre-seed-round\/417-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/417.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"417.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/417.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/417.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555378\" class=\"content-area-description single-story post-555378 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam tag-food tag-startup-watch 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>Grocery delivery startup <\/strong><strong><a href=\"https:\/\/www.rabbitmart.com\/\">Rabbit<\/a><\/strong><sup><\/sup><strong> has raised USD 11 mn in a pre-seed VC funding <\/strong><strong>round<\/strong>, according to a <a href=\"https:\/\/ent.news\/2021\/11\/Rabbit-_-Press-Release.pdf\">company statement (pdf)<\/a>. <a href=\"https:\/\/www.globalfounderscapital.com\/\">Global Founders Capital<\/a>, <a href=\"https:\/\/www.foundationventures.com\">Foundation Ventures<\/a>, <a href=\"https:\/\/raed.vc\/\">Raed Ventures<\/a>, <a href=\"https:\/\/www.msacap.com\/\">MSA Capital<\/a> and <a href=\"https:\/\/www.goodwatercap.com\/\">Goodwater Capital<\/a> all participated in the round, which the Cairo-based company says<sup><\/sup> is the largest-ever pre-seed round in the Middle East and Africa<sup><\/sup>.<\/p>\n<p><strong>Never heard of Rabbit? <\/strong>Short for Rabbitmart, the app only launched in mid-October, just four months after the idea was conceived by Ahmad Yousry, Walid Shabana, Ismail Hafez and Tarek El Geresy. Rabbit guarantees delivery in 20 minutes or less, a promise that makes it one of the more ambitious players in our growing on-demand delivery market that includes the likes of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/57960f32-5e38-43eb-bc2a-70a5b5e11abb\">Appetito<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4ac36325-cbf9-4787-b871-545ea8d5c013\">Goodsmart<\/a>. The company currently operates in Mohandeseen, Zamalek, Maadi and Nasr City.<\/p>\n<p><strong>What\u2019s next? <\/strong>Rabbit is planning an expansion push into further Cairo areas \u201csoon\u201d and several additional cities within the next year. The firm is targeting processing orders numbering in the six figures monthly.<\/p>\n<p><strong>The on-demand grocery market is accelerating: <\/strong>Among Rabbit\u2019s competition in the ultra-fast delivery sector is Breadfast, which <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/085710b0-3a7a-4cde-a273-471da81720b0\">last week secured USD 26 mn<\/a> in funding in a series A round. Breadfast currently offers an on-demand service within the hour and is also targeting bringing delivery windows down to 20 minutes. Bigger regional players Instashop and Talabat have also <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/decbfd0a-1a16-44dd-b2b4-f31b83f1da48\">been vying for market share<\/a> in the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/decbfd0a-1a16-44dd-b2b4-f31b83f1da48\">sector<\/a>, which boomed worldwide on the back of the pandemic.<\/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\/food\/\">food<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555380\" 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=\"555380\">\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\">Cabinet watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/cabinet-looking-to-encourage-more-property-registrations\/\">\r\n                            Cabinet looking to encourage more property registrations                        <\/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\/11\/cabinet-looking-to-encourage-more-property-registrations\/\" 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\/11\/cabinet-looking-to-encourage-more-property-registrations\/')\">\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\/11\/cabinet-looking-to-encourage-more-property-registrations\/\">\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=Cabinet looking to encourage more property registrations&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/cabinet-looking-to-encourage-more-property-registrations\/\">\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\/11\/cabinet-looking-to-encourage-more-property-registrations\/&title=Cabinet looking to encourage more property registrations\">\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=Cabinet+looking+to+encourage+more+property+registrations+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F11%2Fcabinet-looking-to-encourage-more-property-registrations%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\/11\/cabinet-looking-to-encourage-more-property-registrations\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/418.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"555381\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/cabinet-looking-to-encourage-more-property-registrations\/418-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/418.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"418.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/418.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/418.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555380\" class=\"content-area-description single-story post-555380 post type-post status-publish format-standard has-post-thumbnail hentry category-cabinet-watch tag-cabinet-watch tag-enterpriseam tag-income-tax-act tag-real-estate-registry-act wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Are we about to see a surge in home registration? <\/strong>More homeowners could start notarizing their ownership contracts after legislative amendments to considerably shorten the process earned cabinet approval in its <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/269247685245659\">weekly meeting yesterday<\/a>. The changes, which amend stipulations in the Real Estate Registry Act and the Income Tax Act, are expected to significantly trim the painstaking registration process by waiving the need to obtain pre-approval at the real estate registry office prior to obtaining the final seal and putting a time ceiling on the entire process. The pre-approval stage, as things stand, requires on-ground inspections by notaries, a documentation of provenance, and other steps that usually take months.<\/p>\n<p><strong>Registration taxes are also now easier to digest<\/strong>, as payment will no longer be a prerequisite of getting hold of the notarized \u201cblue contract.\u201d Instead, the seller will remit the taxes at a later date. As things stand, the changes don't provide a timeline or mechanism for the tax collection. The changes also set the tax rate at 2.5% in contracts signed before <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3c808039-3cb1-44c2-b027-fe4c72017443\">recently-passed amendments<\/a> and a flat rate of EGP 1.5-4k in older contracts. The need to pay taxes before registering had previously discouraged property owners from notarizing their deeds.<\/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\/cabinet-watch\/\">cabinet watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/income-tax-act\/\">income tax act<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate-registry-act\/\">Real Estate Registry Act<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555382\" 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=\"555382\">\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\">AUTO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/tuk-tuk-import-ban-hits-gb-auto\/\">\r\n                            Tuk-tuk import ban hits GB Auto                        <\/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\/11\/tuk-tuk-import-ban-hits-gb-auto\/\" 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\/11\/tuk-tuk-import-ban-hits-gb-auto\/')\">\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\/11\/tuk-tuk-import-ban-hits-gb-auto\/\">\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=Tuk-tuk import ban hits GB Auto&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/tuk-tuk-import-ban-hits-gb-auto\/\">\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\/11\/tuk-tuk-import-ban-hits-gb-auto\/&title=Tuk-tuk import ban hits GB Auto\">\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=Tuk-tuk+import+ban+hits+GB+Auto+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F11%2Ftuk-tuk-import-ban-hits-gb-auto%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\/11\/tuk-tuk-import-ban-hits-gb-auto\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/420.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"555383\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/tuk-tuk-import-ban-hits-gb-auto\/420-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/420.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"420.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/420.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/420.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555382\" class=\"content-area-description single-story post-555382 post type-post status-publish format-standard has-post-thumbnail hentry category-auto tag-auto tag-automotive tag-enterpriseam tag-gb-auto tag-manufacturing tag-regulation tag-trade tag-transport wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>Tuk-tu<\/strong><sup><\/sup><strong>k import ban has GB Auto searching for alternatives:<\/strong> The Madbouly government\u2019s decision <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0db2880d-bff8-49bc-a419-f0d0edc9ff40\">to ban imports of tuk-tuk components<\/a> is threatening to wipe out GB Auto\u2019s three-wheeler business segment, leading the company to yesterday <a href=\"https:\/\/ent.news\/2021\/11\/GB-Auto-Takes-Proactive-Approach-to-Mitigate-Impact-of-Three-Wheeler-Import-Ban-E..pdf\">announce (pdf)<\/a> that it is preparing backup plans to absorb the shortfall in revenues. \u201cManagement is taking proactive steps and has already begun preparing alternatives \u2026 the current headwinds are not new to GB Auto, and we are confident that we can mitigate the anticipated impact on our performance,\u201d Marina Kamel, the company\u2019s IR manager, told Enterprise.<\/p>\n<p><strong>How important are three-wheelers to GB Auto?<\/strong> The company doesn\u2019t break out sales figures for tuk-tuks, having always included them in its larger motorcycles and three-wheelers segment. Its <a href=\"https:\/\/ent.news\/2021\/8\/GB-Auto-ER-2Q21-E-FINAL.pdf\">e2Q2021 earnings release (pdf)<\/a> reported the segment brought in EGP 1.8 bn in revenues during 1H2021. This accounts for roughly 16%<sup><\/sup> of its total auto-related revenues during the period. GB Auto sold almost 37k three-wheelers in the January-June period, up 47% on the same period in 2020 and higher than the 30.6k motorcycles sold.<\/p>\n<p><strong>Breathing room:<\/strong> GB Auto still has 3-6 months of inventory, giving it room to mitigate the effect as it looks for alternatives, board member Mansour Kabbani tells us. \u201cWe\u2019re a very big diversified company with very big lines of businesses, whether that\u2019s cars or non-banking financial services,\u201d Kabbani added, noting that the company expects to absorb the loss of the tuktuk business.<\/p>\n<p><strong>A potential alternative:<\/strong> The company is considering making a play for the natural gas-powered mini van market, which the government is trying to stimulate through <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/351b97a5-2950-492f-8fb5-9032138878a3\">a scheme<\/a> to encourage motorists to trade in their gasoline vehicles for a natgas-powered alternative. The Public Enterprises Ministry had been in talks with GB Auto to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2a1294da-6129-4674-a301-157521404d28\">potentially work together<\/a> on manufacturing the natgas microbuses, but these talks were shelved.<\/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\/auto\/\">AUTO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gb-auto\/\">GB Auto<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/regulation\/\">regulation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555384\" 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=\"555384\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/could-the-gerd-talks-be-brought-back-from-the-dead\/\">\r\n                            Could the GERD talks be brought back from the dead?                        <\/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\/11\/could-the-gerd-talks-be-brought-back-from-the-dead\/\" 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\/11\/could-the-gerd-talks-be-brought-back-from-the-dead\/')\">\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\/11\/could-the-gerd-talks-be-brought-back-from-the-dead\/\">\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=Could the GERD talks be brought back from the dead?&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/could-the-gerd-talks-be-brought-back-from-the-dead\/\">\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\/11\/could-the-gerd-talks-be-brought-back-from-the-dead\/&title=Could the GERD talks be brought back from the dead?\">\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=Could+the+GERD+talks+be+brought+back+from+the+dead%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F11%2Fcould-the-gerd-talks-be-brought-back-from-the-dead%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\/11\/could-the-gerd-talks-be-brought-back-from-the-dead\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555384\" class=\"content-area-description single-story post-555384 post type-post status-publish format-standard hentry category-diplomacy tag-african-union tag-diplomacy tag-enterpriseam tag-gerd tag-industry tag-iraq tag-jordan tag-politics tag-smes wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Could the GERD talks be brought back from the dead?<\/strong> Foreign Minister Sameh Shoukry hinted at a possible resumption of negotiations between Egypt, Ethiopia and Sudan over the Grand Ethiopian Renaissance Dam (GERD), <a href=\"https:\/\/tinyurl.com\/2ktd35ds\">Sky News Arabia<\/a> reports. \"There are ongoing meetings with the African Union to push for a return to negotiations,\" Shoukry said on the sidelines of an event in Washington, without going into further details.<\/p>\n<p><strong>IN OTHER DIPLO NEWS-<\/strong><\/p>\n<p><strong>Egypt, Jordan + Iraq sign industrial pact:<\/strong> Trade ministers from Egypt, Jordan and Iraq yesterday signed an industrial agreement that could pave the way for further economic intergration between the three countries, according to a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/269456888558072?__cft__[0]=AZWmAwExMpQ4dub8XA_TPKclME22ewo_CZA9uHixU9tsitGElfzOnH12n2ryf6prAIOwOkdPKtfQAJzK9SIv46J-tLEREfkMn4c5LS0t1C-E4bRjnSWU8JIBHW0qqoYzm209FxzAGdRCahvsNcjS2-zQiH-MDNlMiGXYZAGU1T1uIg&__tn__=%2CO%2CP-R\">Trade Ministry statement<\/a>. Under the MoU, the countries will establish a committee to oversee the establishment of joint industrial zones and explore further steps to lower trade barriers. The agreement came a day after Egypt and Jordan <a href=\"https:\/\/www.facebook.com\/mift.media\/posts\/256938049810810\">signed two MoUs<\/a>: one that will twin the cities of Luxor and Petra, and another to strengthen cooperation over SMEs.<\/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\/african-union\/\">African Union<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industry\/\">industry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/iraq\/\">Iraq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jordan\/\">Jordan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smes\/\">SMEs<\/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=\"555385\" 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=\"555385\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/555385\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555385\" class=\"content-area-description single-story post-555385 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\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=\"555386\" 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=\"555386\">\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\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/last-nights-talk-shows-on-vodafone-egypt-selling-its-majority-stake-the-cabinets-meeting\/\">\r\n                            Last Night\u2019s Talk Shows on Vodafone Egypt selling its majority stake + the cabinet\u2019s 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\/11\/last-nights-talk-shows-on-vodafone-egypt-selling-its-majority-stake-the-cabinets-meeting\/\" 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\/11\/last-nights-talk-shows-on-vodafone-egypt-selling-its-majority-stake-the-cabinets-meeting\/')\">\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\/11\/last-nights-talk-shows-on-vodafone-egypt-selling-its-majority-stake-the-cabinets-meeting\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Last Night\u2019s Talk Shows on Vodafone Egypt selling its majority stake + the cabinet\u2019s meeting&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/last-nights-talk-shows-on-vodafone-egypt-selling-its-majority-stake-the-cabinets-meeting\/\">\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\/11\/last-nights-talk-shows-on-vodafone-egypt-selling-its-majority-stake-the-cabinets-meeting\/&title=Last Night\u2019s Talk Shows on Vodafone Egypt selling its majority stake + the cabinet\u2019s meeting\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Last+Night%E2%80%99s+Talk+Shows+on+Vodafone+Egypt+selling+its+majority+stake+%2B+the+cabinet%E2%80%99s+meeting+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F11%2Flast-nights-talk-shows-on-vodafone-egypt-selling-its-majority-stake-the-cabinets-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\/11\/last-nights-talk-shows-on-vodafone-egypt-selling-its-majority-stake-the-cabinets-meeting\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555386\" class=\"content-area-description single-story post-555386 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-cit tag-diplomacy tag-enterpriseam tag-gerd tag-income-tax-act tag-last-nights-talk-shows tag-national-telecom-regulatory-authority tag-real-estate-registry-act tag-us tag-vodacom tag-vodafone-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Talk shows got businessy last night discussing the selling of Vodafone Group\u2019s <\/strong><strong>majority stake in Vodafone Egypt<\/strong>, which will be sold to Vodacom Group for some EUR 2.7 bn. We don\u2019t have to worry about the iconic red mobile network going anywhere: Vodafone Egypt will maintain its identity post acquisition, from its name to its logo, and will continue to service its users, Mohamed Ibrahim, executive director at the National Telecom Regulatory Authority (NTRA), told Yahduth Fi Masr (<a href=\"https:\/\/www.youtube.com\/watch?v=nYnuIqJcbtc\">watch, runtime: 2:36<\/a>).<\/p>\n<p><strong>The regulator is studying the sale:<\/strong> Vodafone Egypt has come forward to the NTRA with its intent to sell and the authority will study the move from the legal and regulatory aspects before coming to a decision. The authority will look into Vodacom\u2019s strategic plans in Egypt in the coming period and the acquiring company\u2019s ability to ensure that users will continue to receive top notch service, Ibrahim told Ala Mas\u2019ouleety (<a href=\"https:\/\/www.facebook.com\/AhmedMoussaEG\/videos\/1588915738124074\/\">watch, runtime: 5:56<\/a>), who also virtually hosted Vodafone Egypt\u2019s external relations director, Ayman Essam (<a href=\"https:\/\/www.facebook.com\/AhmedMoussaEG\/videos\/240240468023507\/\">watch, runtime: 10:14<\/a>).<\/p>\n<p><strong>The cabinet\u2019s latest meeting was also a major talking point: <\/strong>Amendments to the Real Estate Registry Act and the Income Tax Act which were approved during yesterday\u2019s cabinet meeting were covered and discussed all over: Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=D52NkvXvdi4\">watch, runtime: 10:56<\/a>), Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=Y6WjakCcbVg\">watch, runtime: 10:38<\/a>) and Ala Mas\u2019ouleety (<a href=\"https:\/\/www.facebook.com\/AhmedMoussaEG\/videos\/201434942134880\">watch, runtime: 6:24<\/a>). Real Estate Registry and Notarization head Gamal Yaqout told Yahdoth Fi Masr (<a href=\"https:\/\/www.facebook.com\/YahdothFiMasr\/videos\/948444139420757\">watch, runtime: 4:42<\/a>) that these amendments come in line with the state\u2019s digital transformation. The amendments separated the taxation process from the home registration process making them parallel to each other. Yaqout said that the Real Estate Registry Act will be seeing a total revamp, with a number of articles deleted, some added and some amended.<\/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\/cit\/\">CIT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gerd\/\">GERD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/income-tax-act\/\">income tax act<\/a>\n       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<\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555388\" 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=\"555388\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/us-egypt-talks-still-on-the-agenda-in-the-foreign-press\/\">\r\n                            US-Egypt talks still on the agenda in the foreign press                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div 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              <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/us-egypt-talks-still-on-the-agenda-in-the-foreign-press\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555388\" class=\"content-area-description single-story post-555388 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-anthony-blinken tag-anti-terrorism-act tag-diplomacy tag-enterpriseam tag-human-rights tag-politics tag-sameh-shoukry tag-us wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>For the nth consecutive morning, the foreign press is focused on this week\u2019s US-Egypt <\/strong><strong>diplomatic talks:<\/strong> <a href=\"https:\/\/www.axios.com\/egypt-us-talks-biden-human-rights-899c8d78-e161-4f82-9da2-6281fe434c0d.html%20\/\/https:\/\/www.arabnews.com\/node\/1965536\/middle-east\">Axios<\/a> and <a href=\"https:\/\/www.arabnews.com\/node\/1965536\/middle-east\">Arab News<\/a> are both out with pieces reporting on the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a4b1d0dc-6b9d-4d59-8469-5bd34bc62a7d\">talks in Washington this week<\/a>, which saw delegations headed by Foreign Minister Sameh Shoukry and Secretary of State Anthony Blinken discuss a range or regional issues, economic cooperation and Egypt\u2019s human rights record.<\/p>\n<p><strong>On that note:<\/strong> Recent amendments to the anti-terrorism law are criticized as restricting civil freedoms in columnist and Middle East scholar Steven A. Cook\u2019s latest thinkpiece in <a href=\"https:\/\/foreignpolicy.com\/2021\/11\/10\/why-dictators-always-pretend-to-love-the-law\/\">Foreign Policy<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/anthony-blinken\/\">Anthony Blinken<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/anti-terrorism-act\/\">Anti-Terrorism Act<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sameh-shoukry\/\">Sameh Shoukry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555389\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555390\" 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=\"555390\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/everything-you-need-to-know-about-covid-19-on-11-november-2021\/\">\r\n                            Everything you need to know about covid-19 on 11 November 2021                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/everything-you-need-to-know-about-covid-19-on-11-november-2021\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/everything-you-need-to-know-about-covid-19-on-11-november-2021\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/everything-you-need-to-know-about-covid-19-on-11-november-2021\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Everything you need to know about covid-19 on 11 November 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/everything-you-need-to-know-about-covid-19-on-11-november-2021\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/everything-you-need-to-know-about-covid-19-on-11-november-2021\/&title=Everything you need to know about covid-19 on 11 November 2021\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Everything+you+need+to+know+about+covid-19+on+11+November+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F11%2Feverything-you-need-to-know-about-covid-19-on-11-november-2021%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/everything-you-need-to-know-about-covid-19-on-11-november-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555390\" class=\"content-area-description single-story post-555390 post type-post status-publish format-standard hentry category-covid-watch tag-covid-19 tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/202741232037099\">reported<\/a><\/strong><strong> 934 new covid-19 infections yesterday<\/strong>, up from 921 the day before. Egypt has now disclosed a total of 340,269 confirmed cases of covid-19. The ministry also reported 63 new deaths, bringing the country\u2019s total death toll to 19,249.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555391\" 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=\"555391\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">15<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/us-inflation-hits-30-year-high-stocks-arent-happy\/\">\r\n                            US inflation hits 30-year high; stocks aren\u2019t happy                        <\/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\/11\/us-inflation-hits-30-year-high-stocks-arent-happy\/\" 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\/11\/us-inflation-hits-30-year-high-stocks-arent-happy\/')\">\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\/11\/us-inflation-hits-30-year-high-stocks-arent-happy\/\">\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 inflation hits 30-year high; stocks aren\u2019t happy&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/us-inflation-hits-30-year-high-stocks-arent-happy\/\">\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\/11\/us-inflation-hits-30-year-high-stocks-arent-happy\/&title=US inflation hits 30-year high; stocks aren\u2019t happy\">\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+inflation+hits+30-year+high%3B+stocks+aren%E2%80%99t+happy+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F11%2Fus-inflation-hits-30-year-high-stocks-arent-happy%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\/11\/us-inflation-hits-30-year-high-stocks-arent-happy\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555391\" class=\"content-area-description single-story post-555391 post type-post status-publish format-standard hentry category-planet-finance tag-capital-markets tag-china tag-economy tag-enterpriseam tag-financial-markets tag-inflation tag-interest-rates tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-11\"><\/a><strong> Inflation worries hit stocks:<\/strong> US stocks experienced their biggest single-drop in a month and treasury yields rose the most since February yesterday after <a href=\"https:\/\/ent.news\/2021\/11\/cpi.pdf\">fresh data (pdf)<\/a> showed inflation reaching a 30-year high in October. The S&amp;P 500 fell 0.8% during trading and the Nasdaq slipped 1.4% after figures released by the Bureau of Labor Statistics showed that US consumer prices accelerated to 6.2% last month \u2014 the highest annual rate since 1990.<\/p><p><strong>This is going to put more pressure on the Fed<\/strong>, which said earlier this month that it will begin tapering its USD 120 bn per-month asset purchase programme this month but indicted that interest rates would remain on the floor for the foreseeable future.\u201cNow that it\u2019s breached that 6% level, I think the Fed are going to be getting a little bit hot under the collar,\u201d one analyst told <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-11-09\/asia-stocks-set-for-mixed-start-treasuries-jumped-markets-wrap?sref=mmeFTDW1\">Bloomberg<\/a>. \u201cThere is no way, I think, they can ignore 6.2% on that CPI reading. It\u2019s going to be prompting a more hawkish feel.\u201d<\/p><p><strong>The US isn\u2019t the only one dealing with surging inflation: <\/strong>Factory input costs in China rose at their fastest pace in 26 years in October, the <a href=\"https:\/\/www.ft.com\/content\/1c4b8670-a86f-446d-bb4e-5019d7f4df38\">Financial Times<\/a> reports, as the energy crisis turbocharged industrial input prices. The country saw factory gate prices rise 13.5% y-o-y last month, exceeding analysts\u2019 expectations and replacing September\u2019s 10.7% reading as the highest since 1995. The rise comes on the back of a global commodities crunch that has triggered particularly severe energy and raw materials shortages in China, where this latest reading will add to fears of a growing stagflation crisis \u2014 a double-punch of high inflation coupled with slowing growth.<\/p><p><strong>The sell-off in New York is bleeding over into Asia this morning<\/strong>, where most indices are in the red, though China and Japan were bucking the trend in the minutes before dispatch. It\u2019s a mixed picture in the futures market: the dip buyers look to be coming out in force in the US, where stock futures are all in the green, though the open in European markets is less certain.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>11,481<\/p>\n<\/td>\n<td>\n<p>-0.9% (YTD: +5.9%)<\/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>11,857<\/p>\n<\/td>\n<td>\n<p>+0.9% (YTD: +36.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>8,230<\/p>\n<\/td>\n<td>\n<p>+0.4% (YTD: +63.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,107<\/p>\n<\/td>\n<td>\n<p>-0.4% (YTD: +24.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,647<\/p>\n<\/td>\n<td>\n<p>-0.8% (YTD: +23.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,340<\/p>\n<\/td>\n<td>\n<p>+0.9% (YTD: +13.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 82.56<\/p>\n<\/td>\n<td>\n<p>-2.6%<\/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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 4.88<\/p>\n<\/td>\n<td>\n<p>-2.0%<\/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>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,848<\/p>\n<\/td>\n<td>\n<p>+1.0%<\/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>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 64,646<\/p>\n<\/td>\n<td>\n<p>-4.0% (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 fell 0.9% yesterday <\/strong>on turnover of EGP 821.2 mn (45% below the 90-day average). Regional investors were net buyers. The index is up 5.9% YTD.<\/p><p><strong>In the green: <\/strong>Medinet Nasr Housing (+3.1%), Mopco (+2.2%) and Abou Kir Fertilizers (+0.8%).<\/p><p><strong>In the red: <\/strong>Gadwa for Industrial Development (-5.1%), Aspire Capital (-3.9%) and AMOC (-3.3%).<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555392\" 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=\"555392\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">16<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/11\/my-morning-routine-heba-el-gabaly-founder-of-efreshli\/\">\r\n                            My Morning Routine: Heba El Gabaly, founder of Efreshli                        <\/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\/11\/my-morning-routine-heba-el-gabaly-founder-of-efreshli\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Speaking to us this week is Heba El Gabaly, CEO and founder of Efreshli (<a href=\"https:\/\/www.linkedin.com\/in\/heba-el-gabaly-49614177\/?originalSubdomain=ae\">LinkedIn<\/a>). Edited excerpts from our conversation:<\/p>\n<p><strong>My name is Heba El Gabaly and I\u2019m an entrepreneur, a wife, and a mother of two teenage boys.<\/strong> My older son Omar is 16 while Youssef is almost 14, and we all now reside in Dubai. Back in Egypt, I was a partner at Eklego Design alongside Dina El Khachab and Hedayat Islam, but I stepped back from the business after my move. I decided to start Efreshli in 2019 as I felt that the whole world was moving online and I thought that interior design could as well. Efreshli\u2019s concept is to offer easy, accessible, and affordable online interior design services while also acting as an e-commerce platform for local brands and designers. There\u2019s so much furniture online and most people just need a tool to visualize how it would all look together in a cohesive space.<\/p>\n<p><strong>As CEO, my job is to set the company direction and lead my team to deliver our service to the customer at a certain standard.<\/strong> What this translates into on a day-to-day basis is a lot of meetings with various teams, clients, suppliers, and investors. It\u2019s a lot of people management, and each day is different depending on the priorities.<\/p>\n<p><strong>We started with just two people and now we\u2019re a team of 26. <\/strong>At the beginning of 2020, I decided that I wanted to scale the business, and that meant that I would have to seek investments. My husband Ahmed, who is an investment banker, really helped me in that regard. He helped me develop the fundraising tech, the legal setup, reaching out to contacts, basically everything. I really couldn\u2019t have done it without him.<\/p>\n<p><strong>Receiving funding allowed us to transform Efreshli to depend more on tech. <\/strong>We quickly hired a team of engineers and developers to build features that make our product more efficient and scalable. Once you become a tech business, there\u2019s a lot of pressure because the pace is very different, and you\u2019re accountable to the investors. But it\u2019s very exciting and it allows you to dream big.<\/p>\n<p><strong>Since I live in Dubai and the team is in Egypt, I\u2019ve always worked remotely. <\/strong>When I decided to launch Efreshli, I knew I needed to start in Egypt because the market was more familiar and I had many connections there. Even if I expand to the UAE, a big part of my team will likely be in Egypt.<\/p>\n<p><strong>To manage teams remotely you have to create a culture of joint accountability. <\/strong>We have weekly online meetings where everyone in the company gives an update on what they\u2019re currently working on. This makes them not just accountable to their manager, but to each other as well. It\u2019s tricky sometimes, but if you have good people and stay organized, it works really well.<\/p>\n<p><strong>When travel restrictions were lifted, I started coming to Egypt for a week every month to work from the office<\/strong> and get face-to-face contact with the team. I think there has to be a minimum amount of physical interaction at work, but it definitely doesn\u2019t have to be every day.<\/p>\n<p><strong>When I\u2019m in Dubai, I usually wake up at 6:50am with my husband and kids. Yes, 6:50am [laughs]. <\/strong>We spend some time together during breakfast before I take the boys to school and head to the gym. For me the gym is as much mental as it is physical. Some people get their best ideas in the shower, but for me it\u2019s the gym. After my workout, I quickly look at what\u2019s happening in the world. I read Enterprise every day, honestly it\u2019s my favorite, and I also browse the New York Times.<\/p>\n<p><strong>I\u2019m very much a morning person<\/strong> and the first couple hours of the day are when I\u2019m most productive. I usually begin work at around 9:30am and I like to start by creating a mental checklist of the most important things to get done that day and the rest of the week. Since the funding, I\u2019ve also found that it\u2019s really important to carve out some time to think more long-term, like the next six months. It\u2019s really easy to drown in the day-to-day operations, but as a startup you need to always be thinking of your next initiative or you won\u2019t move forward and grow.<\/p>\n<p><strong>Work-life balance is hard when my office is currently my dining room table [laughs]. <\/strong>There was a time where I would work at a restaurant, but the pandemic put a stop to that. The kids come home at around 4pm and we have lunch together, but then I usually log back on afterwards. Working from home definitely blurs the lines, but I also think it has to do with the stage Efreshli is at as a startup.<\/p>\n<p><strong>After work, my husband, younger son, and I like to watch Netflix together. <\/strong>Youssef has to approve what we watch [laughs], and we recently saw an anime called <a href=\"https:\/\/www.imdb.com\/title\/tt0421357\/\">Fullmetal Alchemist<\/a> and a food reality TV show called <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/16141649-9e55-4664-956c-1f4afebdd434\">Baking Impossible<\/a>.<\/p>\n<p><strong>I get a lot of business advice from the books and podcasts I listen to. <\/strong>As a startup owner, I like to look at case studies and analyze how other companies grew. A great book I read recently was <a href=\"https:\/\/www.amazon.com\/No-Rules-Netflix-Culture-Reinvention\/dp\/1984877860\">No Rules Rules: Netflix and the Culture of Reinvention<\/a> by Erin Meyer and Reed Hastings. My main obsession is podcasts and I listen to a ton of them while driving, cooking, or multitasking in general. My top three are <a href=\"https:\/\/www.npr.org\/podcasts\/510313\/how-i-built-this\">How I Built This with Guy Raz<\/a>, <a href=\"https:\/\/podcasts.apple.com\/us\/podcast\/invest-like-the-best-with-patrick-oshaughnessy\/id1154105909\">Invest like The Best with Patrick O'Shaughnessy<\/a>, and <a href=\"https:\/\/podcasts.apple.com\/us\/podcast\/the-tim-ferriss-show\/id863897795\">The Tim Ferriss Show<\/a>.<\/p>\n<p><strong>The thing that stuck with me most is to make sure you\u2019re hiring the best people and then take care of them with all you have. <\/strong>You won\u2019t get far by yourself, and having a good team is what will propel you forward.<\/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\/efreshli\/\">Efreshli<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555394\" 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\/11\/555394\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555394\" class=\"content-area-description single-story post-555394 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>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>31 October - 12 November (Sunday-Friday): 2021 United Nations Climate Change Conference (COP26), Glasgow, United Kingdom.<\/p>\n<p>11 November (Thursday): <a href=\"https:\/\/finance.yahoo.com\/news\/vistas-media-acquisition-company-inc-203000610.html\">Deadline for Anghami SPAC merger<\/a>.<\/p>\n<p>15 November (Monday): Unvaccinated public sector workers won\u2019t be allowed into their workplaces.<\/p>\n<p>15 November (Monday): Car dealerships must comply with new consumer protection rules requiring price stickers to be attached to vehicles.<\/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>17 November (Wednesday): The International Finance Corporation hosts the Sustainable Finance Forum.<\/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 November (Thursday): Rameda Pharma\u2019s <a href=\"https:\/\/bit.ly\/3bCRthH\">annual general meeting (pdf)<\/a>, at which it will decide on the sale of a 5% stake in the company from an individual shareholder to an unnamed institutional investor.<\/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 KfW for green project proposals in Egypt as part of their <a href=\"https:\/\/ent.news\/2021\/11\/2021-11-08_FINAL_EGY-ONLY-announcement-en-1.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; unvaccinated students will be prevented from accessing university campuses.<\/p>\n<p>1 December (Wednesday): Government departments will begin moving to offices in the new capital.<\/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\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":555365,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-555364","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"ee8e0f41-54e0-41ed-a7b3-b8d6990120ec","teaser":"","photo_url":"https:\/\/ent.news\/2021\/11\/409.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>From M&amp;A and IPOs to capital gains taxes and a physical One on One, it\u2019s a heck of a day for news - 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\/from-ma-and-ipos-to-capital-gains-taxes-and-a-physical-one-on-one-its-a-heck-of-a-day-for-news\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"From M&amp;A and IPOs to capital gains taxes and a physical One on One, it\u2019s a heck of a day for news\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/from-ma-and-ipos-to-capital-gains-taxes-and-a-physical-one-on-one-its-a-heck-of-a-day-for-news\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T00:52:58+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\/409.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\/from-ma-and-ipos-to-capital-gains-taxes-and-a-physical-one-on-one-its-a-heck-of-a-day-for-news\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/from-ma-and-ipos-to-capital-gains-taxes-and-a-physical-one-on-one-its-a-heck-of-a-day-for-news\/\",\"name\":\"From M&A and IPOs to capital gains taxes and a physical One on One, it\u2019s a heck of a day for news - 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