{"id":555516,"date":"2021-11-17T04:00:31","date_gmt":"2021-11-17T04:00:31","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=555516"},"modified":"2025-12-16T00:56:23","modified_gmt":"2025-12-16T00:56:23","slug":"between-earnings-madness-and-a-key-policy-meeting-its-a-big-day-for-the-egx","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/between-earnings-madness-and-a-key-policy-meeting-its-a-big-day-for-the-egx\/","title":{"rendered":"Between earnings madness and a key policy meeting, it\u2019s a big day for the EGX"},"content":{"rendered":"<section id=\"555518\" 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=\"555518\">\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\/17\/this-morning-key-egx-meeting-this-morning-rain-is-coming\/\">\r\n                            THIS MORNING: Key EGX meeting this morning; Rain is coming.                        <\/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\/17\/this-morning-key-egx-meeting-this-morning-rain-is-coming\/\" 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\/17\/this-morning-key-egx-meeting-this-morning-rain-is-coming\/')\">\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\/17\/this-morning-key-egx-meeting-this-morning-rain-is-coming\/\">\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: Key EGX meeting this morning; Rain is coming.&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/this-morning-key-egx-meeting-this-morning-rain-is-coming\/\">\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\/17\/this-morning-key-egx-meeting-this-morning-rain-is-coming\/&title=THIS MORNING: Key EGX meeting this morning; Rain is coming.\">\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+Key+EGX+meeting+this+morning%3B+Rain+is+coming.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F17%2Fthis-morning-key-egx-meeting-this-morning-rain-is-coming%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\/17\/this-morning-key-egx-meeting-this-morning-rain-is-coming\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555518\" class=\"content-area-description single-story post-555518 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-egx tag-enterpriseam tag-equities tag-financial-regulatory-authority tag-investment-watch 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>Is it over yet? <\/strong>Earnings season, we mean. The numbers just \u2026 won\u2019t \u2026 stop.<\/p><p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a><strong> IT\u2019S A BIG DAY FOR- The EGX, as regulators meet to discuss some major rule <\/strong><strong>changes.<\/strong> Proposals to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ec6afc7f-e068-4bb3-86c2-bf392f54ae26\">reduce trading fees<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dcd7f4f7-2cb4-4804-b6dc-1895dd922487\">introduce new caps on margin trading<\/a> are on the agenda for a meeting this morning between the Financial Regulatory Authority (FRA), the EGX and Misr for Central Clearing. Also on the table: the loosening of caps on intraday share price movements <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e8f997d-818c-4e52-813f-f4afbf7ed8e5\">in September<\/a>, which has allowed shares to rise or fall 20% in a single session instead of 10%. <a href=\"https:\/\/ent.news\/2021\/11\/fra.pdf\">The FRA (pdf)<\/a> and <a href=\"https:\/\/bit.ly\/3Fn2q3J\">the EGX<\/a> were both out with statements yesterday.<\/p><p><strong>Shocker: The securities industry doesn\u2019t like regulation:<\/strong> Egyptian Capital Market Association VP Ayman Sabry called for drastic changes to the entire market system in an interview with Lamees El Hadidy on Kelma Akhira, saying that the EGX is missing out on the current boom in other markets, (<a href=\"https:\/\/www.youtube.com\/watch?v=SmGTcpsJ1u\">watch, runtime: 9:57<\/a>). Speaking ahead of today\u2019s policy meeting, Sabry claimed that market regulation is costing the bourse USD 30 mn a day and called on policymakers to lift price controls and refrain from intervention.<\/p><p><strong>PSA- Odds are good we\u2019re getting rain this weekend<\/strong>, with our favourite weather app saying there is a 60% chance of up to 5mm of rain on Saturday. The rain looks set to usher in a spell of cooler weather, with daytime highs falling from 27\u00b0C tomorrow to 21-23\u00b0C through the end of next week.<\/p><p><strong>THE BIG STORIES ABROAD- There\u2019s no single story grabbing the attention of foreign<\/strong> <strong>press this morning.<\/strong> Retail sales in the US suggest that rising inflation isn\u2019t yet having an impact on consumer spending (<a href=\"https:\/\/www.nytimes.com\/live\/2021\/11\/16\/business\/news-business-stock-market\">NYT<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/us-economy-october-2021-retail-sales-11637009365?mod=hp_lead_pos1\">WSJ<\/a>) and t<strong>here are hopes that US and China could open talks to reduce tensions<\/strong> and prevent a proliferation of nuclear and hypersonic weapons in the region (<a href=\"https:\/\/www.ft.com\/content\/6e8ad43b-0bb8-4d03-b768-dcb534589841\">FT<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/biden-xi-open-to-nuclear-arms-talks-white-house-says-11637098592?mod=hp_lead_pos3\">WSJ<\/a>).<\/p><p><strong>We\u2019ll know in about four days\u2019 time who the next chairman of the US Federal Reserve will<\/strong> <strong>be<\/strong>, with President Joe Biden telling reporters he\u2019s looking to announce a nominee in \u201cthe next four days.\u201d Biden is choosing between reappointing current Fed boss Jay Powell and Fed governor Lael Brainard. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-11-16\/biden-says-to-expect-fed-chair-nominee-in-about-four-days?sref=mmeFTDW1\">Bloomberg<\/a> quotes an unnamed source as saying Biden has ruled out other possible contenders for the job. <a href=\"https:\/\/www.reuters.com\/world\/us\/biden-says-will-make-final-decision-about-federal-reserve-chair-about-4-days-2021-11-16\/\">Reuters<\/a> also has the story.<\/p><p><strong>SIGN OF THE TIMES #1- The denizens of Wall Street are collectively licking their chops<\/strong> ahead of what promises to be the best year for bonus compensation since 2009, \u201cwith investment bankers and equities traders in line for the biggest bonuses,\u201d according to a study by compensation firm Johnson Associates. <a href=\"https:\/\/www.globenewswire.com\/news-release\/2021\/11\/16\/2335295\/0\/en\/Wall-Street-Sees-Banner-Year-For-Bonuses-Johnson-Associates-Analysis-Finds.html\">Check out their press release here<\/a> or hit the web \u2014 the results are all over the business press this morning.<\/p><p><strong>SIGN OF THE TIMES #2- A number of Canadian MPs could be blocked from entering the<\/strong> <strong>House of Commons when it reconvenes next week <\/strong>after Conservative Party leader Erin O\u2019Toole <a href=\"https:\/\/www.reuters.com\/world\/americas\/canadas-trudeau-exploits-rivals-split-vaccines-parliament-reconvenes-2021-11-16\/\">failed to convince all of his caucus to get jabbed<\/a> against covid-19.<\/p><p><strong>MEANWHILE- Netflix is finally announcing a weekly top 10<\/strong>, providing its first-ever official ranking of who\u2019s watching what, where. The streamer has <a href=\"https:\/\/top10.netflix.com\/tv.html\">launched a standalone website<\/a> that features a global top 10 of both TV shows and films (it also has a link to per-country rankings, but the link was broken at dispatch time).<\/p><p><strong>The top three English-language TV shows globally <\/strong>last week: Narcos: Mexico (season 3), Arcane (season 1) and You (season 3). The story is getting plenty of ink everywhere from <a href=\"https:\/\/edition.cnn.com\/2021\/11\/16\/media\/netflix-top-ten-website\/index.html\">CNN<\/a> to the <a href=\"https:\/\/edition.cnn.com\/2021\/11\/16\/media\/netflix-top-ten-website\/index.html\">Wall Street Journal<\/a>.<\/p><p><strong>HAPPENING TODAY + TOMORROW- <\/strong><\/p><p><strong>It\u2019s the second and final day of the <\/strong><strong><a href=\"https:\/\/africafintechsummit.com\/\">Africa Fintech Summit<\/a><\/strong><strong>:<\/strong> The summit looks at innovation in the fintech ecosystem, venture capital and other forms of investing, and will also discuss the rise of healthtech.<\/p><p><strong>The UK\u2019s Prince Charles arrives in town tomorrow <\/strong>and will stay through Friday on his first visit to Egypt in well over a decade. Charles and his wife, the Duchess of Cornwall, are in Jordan today. Look for climate change to be on Charles\u2019 agenda.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>Entrepreneurs aged 18-35 have until 23 December to register for <\/strong><strong><a href=\"https:\/\/eg.totalenergies.com\/en\">TotalEnergies<\/a><\/strong><strong>\u2019 <\/strong><strong>Startupper of the Year Challenge.<\/strong> The competition is open for a business creation project or startup under three years old in any sector. Candidates can apply <a href=\"https:\/\/startupper.totalenergies.com\/en\">here<\/a>.<\/p><p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/Web-view-01.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education.<\/p><p><strong>In today\u2019s issue: Egypt\u2019 regional energy hub ambitions just got a boost. <\/strong>A Israel-UAE pipeline agreement that looked to threaten Egypt\u2019s position as a regional energy player and neuter the Suez Canal\u2019s importance as a vital shipping route for fuel appears under threat. And Russia\u2019s long-planned Nordstream gas pipeline to Europe just received the cold shoulder from Berlin, potentially leaving Europe searching for new sources of gas.<\/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\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/equities\/\">equities<\/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\/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=\"555519\" 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=\"555519\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/555519\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555519\" class=\"content-area-description single-story post-555519 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\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=\"555520\" 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=\"555520\">\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\/17\/swvl-to-enter-chile-argentina-with-viapool-acquisition\/\">\r\n                            Swvl to enter Chile, Argentina with Viapool acquisition                        <\/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\/17\/swvl-to-enter-chile-argentina-with-viapool-acquisition\/\" 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\/17\/swvl-to-enter-chile-argentina-with-viapool-acquisition\/')\">\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\/17\/swvl-to-enter-chile-argentina-with-viapool-acquisition\/\">\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=Swvl to enter Chile, Argentina with Viapool acquisition&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/swvl-to-enter-chile-argentina-with-viapool-acquisition\/\">\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\/17\/swvl-to-enter-chile-argentina-with-viapool-acquisition\/&title=Swvl to enter Chile, Argentina with Viapool acquisition\">\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=Swvl+to+enter+Chile%2C+Argentina+with+Viapool+acquisition+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F17%2Fswvl-to-enter-chile-argentina-with-viapool-acquisition%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\/17\/swvl-to-enter-chile-argentina-with-viapool-acquisition\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/488.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"555521\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/swvl-to-enter-chile-argentina-with-viapool-acquisition\/488-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/488.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"488.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/488.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/488.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555520\" class=\"content-area-description single-story post-555520 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-argentina tag-chile tag-enterpriseam tag-ipo-watch tag-ma-watch tag-nasdaq tag-ride-hailing tag-swvl 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>H<\/strong><strong>omegrown mass transport startup Swvl <\/strong><strong>will enter Latin America for the first <\/strong><strong>time<\/strong> with the acquisition of a controlling stake in transit company <a href=\"https:\/\/viapool.com\/\">Viapool<\/a>, which operates in Argentina and Chile, according to a company <a href=\"https:\/\/www.prnewswire.com\/ae\/news-releases\/swvl-to-expand-into-argentina-and-chile-with-acquisition-of-controlling-interest-in-mass-transit-platform-viapool-301425829.html\">statement<\/a> yesterday. The transaction values Viapool at around USD 10 mn, a source familiar with the matter told <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-11-16\/swvl-acquires-viapool-in-follow-up-to-queen-s-gambit-spac-tie-up?sref=mmeFTDW1\">Bloomberg<\/a>. Neither party disclosed details of the agreement.<\/p>\n<p><strong>This is the first time Swvl will run its own marketplace on the continent<\/strong>, having had a soft entry earlier this year with <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/af5d2162-bf47-45d2-b982-46314e364512\">its acquisition of Spanish firm Shotl<\/a>, which operates its on-demand SaaS platform in Brazil. \u201cIt\u2019s very significant for us because it\u2019s our first entry into LatAm with our own marketplace,\u201d Swvl CFO Youssef Salem told us yesterday. \u201cViapool is the market leader in these two countries \u2026 and these are very attractive markets.\u201d<\/p>\n<p><strong>Viapool has an impressive client list:<\/strong> The company has more than 80 corporate clients, including Unilever, Nestle and Siemens.<\/p>\n<p><strong>The acquisition is expected to close in 1Q2022<\/strong>, the statement said.<\/p>\n<p><strong>Nasdaq debut upcoming:<\/strong> Swvl <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bfbf590f-581d-4b49-96b3-3ac733bb7fe3\">announced in July<\/a> it would go public on the Nasdaq in 4Q2021 through a merger with blank-check firm Queen\u2019s Gambit Growth Capital. The agreement values the company at around USD 1.5 bn and the listing will raise the company\u2019s capital to USD 550 mn from USD 100+ mn.<\/p>\n<p><strong>Listing to fund big investment plans:<\/strong> The company plans to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/491a4363-fd78-435b-abee-d85c2c9cb5a1\">invest USD 250-300 mn<\/a> over the next three years to expand its global footprint after it goes public. \u201cWe will continue to rapidly pursue strategic initiatives to further enhance shareholder value and capitalize on the synergies of our global platform,\u201d Salem said in the statement.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/argentina\/\">Argentina<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/chile\/\">Chile<\/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\/nasdaq\/\">Nasdaq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ride-hailing\/\">ride-hailing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/swvl\/\">Swvl<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555522\" 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=\"555522\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/unemployment-rate-rises-to-7-5-in-3q2021\/\">\r\n                            Unemployment rate rises to 7.5% in 3Q2021                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/unemployment-rate-rises-to-7-5-in-3q2021\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/unemployment-rate-rises-to-7-5-in-3q2021\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/unemployment-rate-rises-to-7-5-in-3q2021\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Unemployment rate rises to 7.5% in 3Q2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/unemployment-rate-rises-to-7-5-in-3q2021\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/unemployment-rate-rises-to-7-5-in-3q2021\/&title=Unemployment rate rises to 7.5% in 3Q2021\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Unemployment+rate+rises+to+7.5%25+in+3Q2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F17%2Funemployment-rate-rises-to-7-5-in-3q2021%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/unemployment-rate-rises-to-7-5-in-3q2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/489.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"555523\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/unemployment-rate-rises-to-7-5-in-3q2021\/489-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/489.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"489.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/489.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/489.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555522\" class=\"content-area-description single-story post-555522 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-capmas tag-economy tag-employment tag-enterpriseam 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>Egypt\u2019s unemployment rate rose to 7.5% in 3Q2021<\/strong>, up 0.2 percentage points from the April-June quarter, according to official <a href=\"https:\/\/ent.news\/2021\/11\/compas-unemplyment-Q3.pdf\">figures (pdf)<\/a> released by Capmas yesterday.<\/p>\n<p><strong>The reason? The job market doesn\u2019t seem to be absorbing fresh grads:<\/strong> The state statistics bureau chalked up the increase to the entry of fresh graduates into the job market in August and September. This added another 265k people<sup><\/sup> to the labor force during the quarter, leading to the rise in unemployment, it said.<\/p>\n<p><strong>The jobless rate has remained fairly steady over the past year<\/strong> since spiking to a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/80fdf495-1342-4345-a5bd-6387379141bd\">near-two-year high<\/a> in 2Q2020 due to the effects of the pandemic and the government\u2019s lockdown measures on the economy. Since falling back to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/10ee7f34-c8d1-4f15-891b-1c73d798e8e6\">pre-pandemic levels of 7.3%<\/a> in the following quarter, unemployment has remained virtually unchanged, with mild fluctuations quarter-to-quarter.<\/p>\n<p><strong>Youth unemployment was higher than any other age group<\/strong>, with 15-29 year-olds accounting for almost 60% of all jobless people. The unemployment rate among women ticked up 0.3 percentage points to 15.3% while the rate for men was virtually unchanged at 5.8% from 5.7% in 2Q.<\/p>\n<p><strong>But the private sector is still creating jobs:<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bbab5e06-2938-4efe-a43d-7db63773f9e5\">Recent PMIs<\/a> have seen private sector firms report an uptick in job creation over the past four months, fuelled by better market conditions and improving business confidence.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capmas\/\">CAPMAS<\/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\/employment\/\">employment<\/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=\"555524\" 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=\"555524\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/carbon-capture-announcements-lined-up-for-cop27\/\">\r\n                            Carbon capture announcements lined up for COP27                        <\/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\/17\/carbon-capture-announcements-lined-up-for-cop27\/\" 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\/17\/carbon-capture-announcements-lined-up-for-cop27\/')\">\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\/17\/carbon-capture-announcements-lined-up-for-cop27\/\">\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=Carbon capture announcements lined up for COP27&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/carbon-capture-announcements-lined-up-for-cop27\/\">\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\/17\/carbon-capture-announcements-lined-up-for-cop27\/&title=Carbon capture announcements lined up for COP27\">\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=Carbon+capture+announcements+lined+up+for+COP27+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F17%2Fcarbon-capture-announcements-lined-up-for-cop27%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\/17\/carbon-capture-announcements-lined-up-for-cop27\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/490.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"555525\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/carbon-capture-announcements-lined-up-for-cop27\/490-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/490.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"490.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/490.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/490.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555524\" class=\"content-area-description single-story post-555524 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-carbon-capture tag-energy tag-enterpriseam tag-tarek-el-molla wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-05\" class=\"content-anchor\"><\/a> <strong>Carbon capture could make its Egyptian debut at COP27:<\/strong> Joint initiatives between the Oil Ministry and Italian energy firm Eni on carbon capture, utilization and storage (CCUS) are set to be announced at the COP27 global climate summit in Sharm El Sheikh next year, according to a <a href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/194633579518288\">ministry statement<\/a>. Oil Minister Tarek El Molla met with Eni CEO Claudio Descalzi to discuss the carbon capture plans on the sidelines of the ADIPEC oil conference in Abu Dhabi this week, the statement read.<\/p>\n<p><strong>Eni is building a carbon capture portfolio:<\/strong> The initiative may look a lot like Eni\u2019s <a href=\"https:\/\/hynet.co.uk\/\">HyNet North West<\/a> project. The British project, which is the first of its kind in the UK, could capture and store 10 mn tons of industrial CO2 annually by 2030. Eni is set to provide support on technical and economic feasibility studies in the next step for the Egypt-based scheme. The company is also looking to partner with the government on projects to reduce methane emissions, according to the statement.<\/p>\n<p><strong>The project could be the first carbon-capture initiative in Egypt.<\/strong> We\u2019re not aware of CCUS technology having landed in Egypt yet \u2014 hit us on editorial@enterprise.press if you think we\u2019re wrong. One reason for that is that carbon capture is very expensive relative to other decarbonization strategies, like renewable energy development, as <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6d15db21-9a1a-497f-afb7-27ea3b135c76\">we\u2019ve noted before<\/a>. The talks with Eni follow an MoU <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/92641dcf-7c8f-406b-9a5d-4fc106f53986\">signed in September<\/a> between EGAS, the Egyptian Petrochemicals Holding Company and Japan\u2019s Toyota Tshusho on joint blue hydrogen projects using Japanese carbon capture technology.<\/p>\n<p><strong>Carbon capture could be a big theme (for energy-producing countries) at COP27: <\/strong>\u201cThe most important action or activity that everybody should work on diligently is CCUS. It\u2019s very important to the oil and gas industry, very important also for [combating] climate change,\u201d El Molla told <a href=\"https:\/\/www.cnbc.com\/video\/2021\/11\/15\/egypts-petroleum-minister-says-carbon-capture-will-be-very-important-for-the-energy-industry.html\">CNBC<\/a> in an interview at the oil conference. He said that Egypt would be launching several climate-related initiatives at COP27, adding that hosting the summit offers a chance to press for funding and investment to help countries achieve net-zero ambitions.<\/p>\n<p><strong>Let\u2019s not lose sight of the big pollution picture:<\/strong> Oil and gas companies have been accused of using carbon capture as a <a href=\"https:\/\/www.cnbc.com\/2021\/10\/19\/greenwashing-needs-to-be-abolished-says-climate-entrepreneur.html\">fig leaf<\/a> by environmental activists, who argue that investment would be better spent on increasing the use of renewable energies. It\u2019s true that as long as we\u2019re still extracting and burning fossil fuels, we\u2019re still contributing to climate change. That said, amid the ongoing energy crisis that has seen oil and gas prices skyrocket globally, some \u2014 including big energy firms and oil-exporting countries \u2014 argue that it will take time to eliminate dirty energy completely. If oil and gas are <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/197de7d3-9da4-49ad-9fbf-6aeda85c7f67\">sticking around for decades<\/a> to come, CCUS tech can at least mitigate some of their negative impact.<\/p>\n<p><strong>ALSO AT COP27- All cars and buses in Sharm El Sheikh and Hurghada will either be converted to run on natural gas or be swapped out for EVs<\/strong> by the time world leaders gather in Egypt next year, according to <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/273984144772013\">a cabinet statement<\/a> out yesterday. The statement also said that <strong>there will be 1k natural gas filling stations in operation nationwide<\/strong> by the end of next March.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/carbon-capture\/\">carbon capture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tarek-el-molla\/\">Tarek El Molla<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555526\" 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=\"555526\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/russia-unveils-riz-plans\/\">\r\n                            Russia unveils RIZ plans                        <\/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\/17\/russia-unveils-riz-plans\/\" 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\/17\/russia-unveils-riz-plans\/')\">\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\/17\/russia-unveils-riz-plans\/\">\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=Russia unveils RIZ plans&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/russia-unveils-riz-plans\/\">\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\/17\/russia-unveils-riz-plans\/&title=Russia unveils RIZ plans\">\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=Russia+unveils+RIZ+plans+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F17%2Frussia-unveils-riz-plans%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\/17\/russia-unveils-riz-plans\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/491.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"555527\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/russia-unveils-riz-plans\/491-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/491.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"491.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/491.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/491.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555526\" class=\"content-area-description single-story post-555526 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-enterpriseam tag-investment-watch tag-russia tag-russian-industrial-zone wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Russia unveiled the master plan for its industrial zone to Suez Canal Economic Zone <\/strong><strong>officials<\/strong> during an official visit to Egypt on 14-16 November, Russian news agency <a href=\"https:\/\/tass.com\/economy\/1362371\">Tass<\/a> reports. Russian Industry and Trade Ministry official Roman Chekushov told the news organization that Egyptian officials \u201chighly appreciated\u201d the plans revealed by the delegation, which consisted of representatives of the ministry, state development finance institution VEB.RF, and Russian companies.<\/p>\n<p><strong>Russia and Egypt <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8a13e6dd-4aba-44b9-88de-d126e0d0b819\">agreed the main terms<\/a><\/strong><strong> of the project earlier this year<\/strong>, paving the way for work to begin on the site <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cfb3c632-b073-4f14-b065-94c7292c6771\">at the beginning of 2022<\/a>. The two sides have settled the lease period, the size of the land plot, the rent price and the deadline for site preparation.<\/p>\n<p><strong>We\u2019re not clear on most of the terms<\/strong>, though we know that Egypt has to allow Russian companies to sell 100% of their locally-made products in the Egyptian market. Egypt is offering companies low-cost rents and preferential tax and energy tariffs to come over, but officials have yet to make the details public.<\/p>\n<p><strong>We\u2019re not going to be seeing a full-sized RIZ for a long time:<\/strong> The project isn\u2019t expected to be completed for another 13 years.<\/p>\n<p><strong>But companies could start appearing next year:<\/strong> If everything goes to plan, the first companies could start operations as soon as 2022.<\/p>\n<p><strong>Some 50 companies will set up shop in the first two or three years:<\/strong> Leading Russian companies in the engineering, chemicals, metallurgy, pharma industries are interested in setting up shop in the zone, Chekushov said, without naming names.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russian-industrial-zone\/\">Russian Industrial Zone<\/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=\"555528\" 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=\"555528\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/lawmakers-want-to-fast-track-budget-transparency-rules\/\">\r\n                            Lawmakers want to fast-track budget transparency rules                        <\/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\/17\/lawmakers-want-to-fast-track-budget-transparency-rules\/\" 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\/17\/lawmakers-want-to-fast-track-budget-transparency-rules\/')\">\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\/17\/lawmakers-want-to-fast-track-budget-transparency-rules\/\">\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=Lawmakers want to fast-track budget transparency rules&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/lawmakers-want-to-fast-track-budget-transparency-rules\/\">\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\/17\/lawmakers-want-to-fast-track-budget-transparency-rules\/&title=Lawmakers want to fast-track budget transparency rules\">\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=Lawmakers+want+to+fast-track+budget+transparency+rules+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F17%2Flawmakers-want-to-fast-track-budget-transparency-rules%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\/17\/lawmakers-want-to-fast-track-budget-transparency-rules\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555528\" class=\"content-area-description single-story post-555528 post type-post status-publish format-standard hentry category-legislation-watch tag-budget-watch tag-enterpriseam tag-house-of-representatives tag-legislation tag-legislation-watch tag-mohamed-maait tag-unified-budget-act wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Lawmakers <\/strong><strong>want the <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5e74b5b9-6e89-4fcb-b133-c2c9bd9dede1\">draft Unified Budget Act<\/a><\/strong><strong> to come into force <\/strong><strong>faster than planned<\/strong>, with MPs saying this week that the government should begin complying with the provisions within two years, instead of five, according to <a href=\"https:\/\/bit.ly\/3kCYPqy\">Al Mal<\/a>.<\/p>\n<p><strong>Unified Budget Act?<\/strong> The legislation would require the government to be more transparent in how it plans public finances, forcing it to present an annual medium-term budgetary and fiscal strategy to the House and set spending limits for each ministry. It will also increase oversight of government spending and implement program and performance budgeting, though the government has disclosed little information about how this would be legislated.<\/p>\n<p><strong>Pushback from the FinMin:<\/strong> Finance Minister Mohamed Maait doesn\u2019t appear to be on board with the suggestion, saying that it\u2019s more important to focus on properly executing the plans and claiming that at least four years will be needed to put in place the necessary regulations and infrastructure.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/budget-watch\/\">budget watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation\/\">legislation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-maait\/\">Mohamed Maait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/unified-budget-act\/\">Unified Budget Act<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555529\" 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=\"555529\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/earnings-watch-sodic-idh-palm-hills-mm-group-vodafone-egypt\/\">\r\n                            Earnings Watch: SODIC, IDH, Palm Hills, MM Group, Vodafone Egypt                        <\/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\/17\/earnings-watch-sodic-idh-palm-hills-mm-group-vodafone-egypt\/\" 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\/17\/earnings-watch-sodic-idh-palm-hills-mm-group-vodafone-egypt\/')\">\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\/17\/earnings-watch-sodic-idh-palm-hills-mm-group-vodafone-egypt\/\">\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=Earnings Watch: SODIC, IDH, Palm Hills, MM Group, Vodafone Egypt&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/earnings-watch-sodic-idh-palm-hills-mm-group-vodafone-egypt\/\">\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\/17\/earnings-watch-sodic-idh-palm-hills-mm-group-vodafone-egypt\/&title=Earnings Watch: SODIC, IDH, Palm Hills, MM Group, Vodafone Egypt\">\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=Earnings+Watch%3A+SODIC%2C+IDH%2C+Palm+Hills%2C+MM+Group%2C+Vodafone+Egypt+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F17%2Fearnings-watch-sodic-idh-palm-hills-mm-group-vodafone-egypt%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\/17\/earnings-watch-sodic-idh-palm-hills-mm-group-vodafone-egypt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555529\" class=\"content-area-description single-story post-555529 post type-post status-publish format-standard hentry category-earnings-watch tag-cit tag-earnings tag-earnings-watch tag-enterpriseam tag-health tag-integrated-diagnostics-holding tag-mm-group tag-palm-hills-developments tag-pharma tag-real-estate tag-sodic tag-vodafone-group 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>Upmarket r<\/strong><strong>eal estate developer SODIC saw a 75% drop in net income during <\/strong><strong>3Q2021<\/strong> as revenues declined due to timing differences in deliveries compared to the same period last year, according to its quarterly <a href=\"https:\/\/ent.news\/2021\/11\/3Q21-Earnings-Release-vff.pdf\">earnings<\/a><a href=\"https:\/\/ent.news\/2021\/11\/3Q21-Earnings-Release-vff.pdf\">release (pdf)<\/a>. The company reported a bottom line of EGP 120 mn for the July-September quarter after revenues fell almost 40% to EGP 1.44 bn due to a 40% decline in delivered units.<\/p>\n<p><strong>SODIC looks on track to make up the gap in the final quarter of the year: <\/strong>The company noted that \u201cthe majority of 2021 unit handovers [are] scheduled for the fourth quarter of the year.\u201d Revenues are down just 8% on a 9M basis while net income is off 37% in the same period.<\/p>\n<p><strong>Remember: For real estate companies, \u201csales\u201d \u2260 \u201crevenues.\u201d <\/strong>They book a sale when you sign a contract to buy a home. But they only record (some or all) of the value of the unit it sold you when it (a) delivers the unit to you or (b) hits a percentage completion on a total project.<\/p>\n<p><strong>On the sales front:<\/strong> SODIC sold 196 units during the quarter, recording gross contracted sales of EGP 1.63 bn. This compares to the 393 units sold in the same period last year when it reported EGP 2.21 bn in gross sales. New contracts were lower in large part due to the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a0579dbf-4aa3-467f-9573-236768e18475\">suspension of sales<\/a> in its 500-acre West Cairo project, which was put on hold in August after the Housing Ministry made adjustments to the land plot. SODIC is looking to resume sales next year once the new adjusted master-plan of the project is approved, Managing Director Magued Sherif said.<\/p>\n<p><strong>Looking ahead: <\/strong><strong>SODIC is on track to surpass forecasted sales<\/strong> for this year, due in part to the strong performance of the North Coast project June, which it launched last month. \u201cThe unprecedented success of June has put us in a good position to close another successful year with solid growth,\u201d Sherif said.<\/p>\n<hr class=\"grey-line\" \/>\n<p><strong>I<\/strong><strong>ntegrated <\/strong><strong>Diagnostics Holdings\u2019 (IDH) 3Q2021 net income jumped 138<\/strong><strong>% y-o-y to<\/strong><strong> EGP 479.7 mn<\/strong>, after revenues more than doubled to EGP 1.47 bn, according to its <a href=\"https:\/\/ent.news\/2022\/6\/IDH-9M2021-ER.pdf\">earnings release (pdf)<\/a>. The company\u2019s top-line growth was underpinned by a surge in covid-19-related tests and conventional tests, along with house call services in Egypt and Jordan, the EGX and LSE-listed company said.<\/p>\n<p><strong>Egypt is still the company\u2019s largest market, with revenues doubling y-o-y to EGP 1.<\/strong><strong>19<\/strong><strong> bn.<\/strong> Covid-19-related revenues accounted for EGP 614 mn of that figure, mainly driven by growing demand for PCR tests from international travelers.<\/p>\n<p><strong>The company plans to launch two new branches of Al Borg Scan over the next six months<\/strong> after setting up three branches in 3Q2021, putting it on track to hit its target of rolling out a total of 30-35 new branches throughout all of 2021. IDH also expects to deliver its highest revenues on record in FY2021, anticipating 80% y-o-y growth to EGP 4.9 bn on the back of the \u201cstrong and sustained recovery\u201d of its conventional business, as well as solid performance from its covid-19 test offerings in Egypt and Jordan.<\/p>\n<p><strong>\u201cLooking ahead<\/strong>, our strategic priorities remain unchanged as we continue assisting local authorities in their battle against covid-19 while simultaneously pressing forward with our post-pandemic strategy,\u201d said CEO Hend El Sherbini.<\/p>\n<hr class=\"grey-line\" \/>\n<p><strong>Palm Hills Developments\u2019 net income fell <\/strong><strong>27<\/strong><strong>% y-o-y to EGP <\/strong><strong>174.1<\/strong><strong> mn in<\/strong><strong> 3Q2021<\/strong>, according to the company\u2019s <a href=\"https:\/\/ent.news\/2021\/11\/271271_2.pdf\">earnings release (pdf)<\/a>. This came despite a 22% increase in revenues, which jumped to EGP 1.88 bn in 3Q2021 on rising sales across all of its offerings.<\/p>\n<p><strong>On a nine-month basis, new sales reached EGP 12.9 bn, surpassing the sales level achieved in 2020 <\/strong>and nearing their FY2021 sales target of EGP 15 bn. By our math, the real estate company sold 1,054 units in 3Q2021. The growth was mostly carried by a 755% y-o-y rise in unit sales in Badya.<\/p>\n<p><strong>Looking ahead: <\/strong>The company recently <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2b0d69d2-29f8-4e99-9100-b8d7acf15dd6\">inked<\/a> a EGP 2.5 bn syndicated loan agreement with Banque Misr and NBE to help finance investment costs for Palm Hills New Cairo. The company is also \u201con track\u201d to conclude several \u201con and off-balance sheet\u201d financing agreements, including the securitization of around EGP 1.1 bn of gross receivables, in the short term, said Executive Chairman Yasseen Mansour.<\/p>\n<hr class=\"grey-line\" \/>\n<p><strong>Automotive and consumer electronics retailer <\/strong><strong><a href=\"https:\/\/mti-mmgroup.com\/who-we-are\/\">MM Group<\/a><\/strong><strong>\u2019s net income dipped 1.5% y-o-y <\/strong><strong>in 3Q2021 to EGP 87 mn<\/strong>, according to the company\u2019s <a href=\"https:\/\/ent.news\/2021\/11\/MM-Group-3Q2021-Earnings-Release.pdf\">earning release (pdf)<\/a>. Revenues inched up nealy 2% y-o-y to EGP 2.2 bn during the quarter. For the first nine months of the year, net income rose 11% y-o-y to EGP 328 mn while revenues were up 8% to EGP 7.1 bn.<\/p>\n<hr class=\"grey-line\" \/>\n<p><strong>V<\/strong><strong>odafone Egypt\u2019s adjusted EBITDA rose by a quarter to EUR 381 mn during the <\/strong><strong>first half of its fiscal year<\/strong>, which ended in September, according to Vodafone Group\u2019s <a href=\"https:\/\/ent.news\/2021\/11\/vodafone-q2-fy22-additional-information.pdf\">earnings release (pdf).<\/a> Revenues saw a 13% annual increase to EUR 861 mn. Vodafone\u2019s fiscal year runs April to March.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/health\/\">health<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/integrated-diagnostics-holding\/\">Integrated Diagnostics Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mm-group\/\">MM Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/palm-hills-developments\/\">Palm Hills Developments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pharma\/\">pharma<\/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\/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=\"555530\" 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=\"555530\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/555530\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555530\" class=\"content-area-description single-story post-555530 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.sodic.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/Tactical-Male-1600WX800H-for-web.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555531\" 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=\"555531\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/egypts-pm-gets-new-powers-to-lock-down-the-country-if-theres-another-pandemic\/\">\r\n                            Egypt\u2019s PM gets new powers to lock down the country if there\u2019s another pandemic                        <\/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 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<\/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\/17\/egypts-pm-gets-new-powers-to-lock-down-the-country-if-theres-another-pandemic\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555531\" class=\"content-area-description single-story post-555531 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-enterpriseam tag-last-nights-talk-shows tag-legislation-watch tag-pandemic wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>On the airwaves last night:<\/strong> The nation\u2019s talking heads discussed <a href=\"https:\/\/bit.ly\/3qGq7QB\">new emergency<\/a><a href=\"https:\/\/bit.ly\/3qGq7QB\">legislation<\/a> passed yesterday that hands the prime minister wide-ranging powers during pandemics and other health crises, including the ability to lock down the country, close schools, shops, transport, and other public places, and set price caps on key goods and services. Yahduth Fi Masr (<a href=\"https:\/\/www.youtube.com\/watch?v=18ur6FaeNhM\">watch, runtime: 4:29<\/a>) and Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=JvMgpwqrXe0\">watch, runtime: 2:58<\/a>) had the story.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pandemic\/\">pandemic<\/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=\"555532\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" 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      <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-4rvx60x\" data-v=\"4\" data-block-id=\"4rvx60x\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-4rvx60x-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-4rvx60x-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-right\" class=\"svg-inline--fa fa-chevron-right\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M285.476 272.971L91.132 467.314c-9.373 9.373-24.569 9.373-33.941 0l-22.667-22.667c-9.357-9.357-9.375-24.522-.04-33.901L188.505 256 34.484 101.255c-9.335-9.379-9.317-24.544.04-33.901l22.667-22.667c9.373-9.373 24.569-9.373 33.941 0L285.475 239.03c9.373 9.372 9.373 24.568.001 33.941z\"><\/path><\/svg><\/button><\/div><\/div><div class=\"stk-block-carousel__dots\" role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555533\" 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=\"555533\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/enough-with-the-deathstalkers-already\/\">\r\n                            Enough with the deathstalkers already                        <\/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 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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=Enough with the deathstalkers already&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/enough-with-the-deathstalkers-already\/\">\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\/17\/enough-with-the-deathstalkers-already\/&title=Enough with the deathstalkers already\">\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=Enough+with+the+deathstalkers+already+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F17%2Fenough-with-the-deathstalkers-already%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\/17\/enough-with-the-deathstalkers-already\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555533\" class=\"content-area-description single-story post-555533 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-ancient-egypt tag-archaeology tag-climate-change tag-cop27 tag-enterpriseam tag-environment tag-history tag-human-rights tag-infrastructure tag-new-administrative-capital tag-red-sea wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>There are still plenty of images of scorpions this morning in the foreign press<\/strong>, which is still picking up last week\u2019s events in Aswan which saw severe weather bring scorpions into the town\u2019s streets, leading to hundreds of injuries. (<a href=\"https:\/\/www.theguardian.com\/world\/2021\/nov\/16\/more-than-500-stung-by-scorpions-flushed-out-by-storms-in-egypt\">The Guardian<\/a> | <a href=\"https:\/\/www.vice.com\/en\/article\/n7nbv8\/hundreds-of-people-stung-by-deathstalker-scorpions-during-storms-in-egypt\">Vice News<\/a> | <a href=\"https:\/\/www.thenationalnews.com\/mena\/2021\/11\/16\/egypt-freak-storm-unleashes-deadly-scorpions-damages-homes-in-aswan\/\">The National<\/a>)<\/p>\n<p><strong>Human Rights Watch is working overtime<\/strong>:The rights watchdog has issued two statements, one <a href=\"https:\/\/www.hrw.org\/news\/2021\/11\/14\/egypt-rampant-abuses-make-poor-climate-host\">criticizing<\/a> the decision to allow <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a925d015-f57e-4886-9f6d-db7a15c76bd3\">Egypt to host next year\u2019s COP27 climate conference<\/a> and another <a href=\"https:\/\/www.hrw.org\/news\/2021\/11\/15\/egypt-us-advocates-father-held-incommunicado\">calling for the release<\/a> of Salah Soltan, at a time a senior leader of the Ikhwan and father of rights Egyptian-American activist Mohamed Soltan.<\/p>\n<p><strong>Also making headlines: <\/strong><\/p>\n<ul>\n<li><strong>Red Sea corals are threatened by warming waters<\/strong> due to climate change in Sharm El Sheikh, which is set to host COP27 next year. (<a href=\"https:\/\/www.afrik21.africa\/en\/egypt-the-stakes-of-cop27-scheduled-for-sharm-el-sheikh-in-2022\/\">Afrik 21<\/a>)<\/li>\n<li><strong>Sun God Ra\u2019s temple uncovered: <\/strong>Archaeologists have uncovered just South of Cairo a third ancient Egyptian sun temple of the six believed to exist, in what is being called one of \u200b\u200bthe most important discoveries of the last half-century. (<a href=\"https:\/\/sputniknews.com\/20211114\/how-mud-filled-beer-jars-helped-egyptologists-make-one-of-the-greatest-discoveries-in-half-a-1090727866.html\">Sputnik News<\/a>, <a href=\"https:\/\/edition.cnn.com\/travel\/article\/egypt-sun-temple-scli-intl-scn\/index.html\">BBC<\/a>)<\/li>\n<li><strong>A dive into the new capital: <\/strong>The urban planning and cost of building the new administrative capital are examined by France24 <a href=\"https:\/\/www.france24.com\/en\/video\/20211115-a-city-fit-for-pharaohs-egypt-s-new-capital-rises-from-the-desert\">(watch, runtime: 2:51<\/a>).<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ancient-egypt\/\">Ancient Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/archaeology\/\">archaeology<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/environment\/\">environment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/history\/\">History<\/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\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/new-administrative-capital\/\">new administrative capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/red-sea\/\">Red Sea<\/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=\"555534\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555535\" 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=\"555535\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/export-development-fund-needs-more-time-to-pay-arrears\/\">\r\n                            Export Development Fund needs more time to pay arrears                        <\/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\/17\/export-development-fund-needs-more-time-to-pay-arrears\/\" 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\/17\/export-development-fund-needs-more-time-to-pay-arrears\/')\">\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\/17\/export-development-fund-needs-more-time-to-pay-arrears\/\">\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=Export Development Fund needs more time to pay arrears&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/export-development-fund-needs-more-time-to-pay-arrears\/\">\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\/17\/export-development-fund-needs-more-time-to-pay-arrears\/&title=Export Development Fund needs more time to pay arrears\">\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=Export+Development+Fund+needs+more+time+to+pay+arrears+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F17%2Fexport-development-fund-needs-more-time-to-pay-arrears%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\/17\/export-development-fund-needs-more-time-to-pay-arrears\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555535\" class=\"content-area-description single-story post-555535 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-banking tag-debt tag-enterpriseam tag-infrastructure tag-suez-canal-bank tag-trade tag-transport wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Export Development Fund needs more time to pay arrears: <\/strong>The Export Development Fund is extending the third phase of its subsidy program until 23 December to give it more time to pay out arrears to exporters, <a href=\"https:\/\/alborsaanews.com\/2021\/11\/15\/1481747\">Al Borsa<\/a> reports. Began in July, the third phase of the program was supposed to end in mid-November but the fund has had to push the end date to ensure businesses get their dues.<\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/de9ff00f-8f74-455f-9e89-06cb20d091bf\">program<\/a><\/strong><strong> allows exporters to receive overdue subsidies in a single payment<\/strong> rather than in installments over four to five years, in return for a 15% haircut. Some 2.5k exporters have received a combined EGP 30 bn in overdue subsidies since the program launched in November last year.<\/p>\n<p><strong>Fatal train crash in Giza:<\/strong> Two people died and three were injured in a <a href=\"https:\/\/bit.ly\/3HBIpIS\">train<\/a><a href=\"https:\/\/bit.ly\/3HBIpIS\">collision<\/a> with a truck at Mansha\u2019at El Qanater crossing in Giza.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-bank\/\">Suez Canal Bank<\/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=\"555536\" 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=\"555536\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/covi-vax-trials-to-take-6-9-months\/\">\r\n                            Covi Vax trials to take 6-9 months                        <\/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\/17\/covi-vax-trials-to-take-6-9-months\/\" 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\/17\/covi-vax-trials-to-take-6-9-months\/')\">\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\/17\/covi-vax-trials-to-take-6-9-months\/\">\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=Covi Vax trials to take 6-9 months&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/covi-vax-trials-to-take-6-9-months\/\">\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\/17\/covi-vax-trials-to-take-6-9-months\/&title=Covi Vax trials to take 6-9 months\">\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=Covi+Vax+trials+to+take+6-9+months+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F17%2Fcovi-vax-trials-to-take-6-9-months%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\/17\/covi-vax-trials-to-take-6-9-months\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555536\" class=\"content-area-description single-story post-555536 post type-post status-publish format-standard hentry category-covid-watch tag-covid-19 tag-enterpriseam tag-vaccines wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Our locally made Covi Vax will spend somewhere between six and n<\/strong><strong>ine months in <\/strong><strong>clinical trials<\/strong>, head of the team in charge of supervising the clinical research studies Osama Azmi told the <a href=\"https:\/\/www.mena.org.eg\/ar\/news\/dbcall\/table\/textnews\/id\/9269400\">Middle East News Agency<\/a>. After the clinical trials the vaccine will be submitted to the Egyptian Drug Authority for approval before it can be administered. The first phase of the trials will be over in two weeks, Health Ministry spokesman Hossam Abdel Ghaffar told Ala Mas\u2019ouleety (<a href=\"https:\/\/www.facebook.com\/AhmedMoussaEG\/videos\/891867048191954\/\">watch, runtime: 13:24<\/a>) and the second and third phases will take about six months.<\/p>\n<p><strong>Where do the trials currently stand? <\/strong>So far 72 volunteers received their first jab and prior to that, the vaccine was tested on 540 animal species, and it showed effectiveness against all virus variants. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/87ac4964-9252-4ea9-8c3d-daf2b8232913\">Earlier this week<\/a>, interim health minister Khaled Abdel Ghaffar <a href=\"https:\/\/www.facebook.com\/MOHESREGYPT\/posts\/438216377661202?__cft__[0]=AZWcWxzrwhFoVkaDVUH53aPh9U05wGRUDArOJuyqEzIjUL9RG8IsBNmOLdQUj2pBzmNeKoawJ_h-KpUCZDaTcnKbUysztOpMpOjO6rnymZcEyrNYHQxTmuCXjJ3BOm-ak58w5tAte6pDSwcOGTpyRWjp&__tn__=%2CO%2CP-R\">announced<\/a> that the trials will begin with tens of participants before they\u2019re expanded to include hundreds and thousands of people.<\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/207060978271791\">reported<\/a><\/strong><strong> 941 new covid-19 infections yesterday<\/strong>, on par with 946 the day before. Egypt has now disclosed a total of 345,848 confirmed cases of covid-19. The ministry also reported 69 new deaths, bringing the country\u2019s total death toll to 19,636.<\/p>\n<p><strong>MEANWHILE- Lockdowns are definitely not a thing of the past up in Europe:<\/strong><\/p>\n<ul>\n<li><strong>Austria is taking draconian measures as it battles record high covid cases: <\/strong>Unvaccinated people aged 12 and up have been placed in lockdown, and are now only allowed to leave their homes for a few reasons, such as buying food or working. (<a href=\"https:\/\/www.bbc.com\/news\/world-europe-59283128\">BBC<\/a>)<\/li>\n<li><strong>The Netherlands is also locking down:<\/strong> The Netherlands re-entered a partial lockdown on Saturday, after which shops and restaurants will close early and sports events will be closed to the public. (<a href=\"https:\/\/www.reuters.com\/world\/europe\/netherlands-impose-partial-lockdown-halt-covid-19-surge-media-2021-11-12\/\">Reuters<\/a>)<\/li>\n<li><strong>The UK could be looking at another covid lockdown: <\/strong>PM Boris Johnson told people to make sure to get their covid jabs and booster shots to avoid another lockdown this winter. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-11-15\/johnson-warns-new-u-k-lockdown-not-ruled-out-as-nhs-struggles?sref=mmeFTDW1\">Bloomberg<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555537\" 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=\"555537\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/two-dubai-ipos-are-coming-down-the-pipeline-as-dfm-chases-gulf-rush\/\">\r\n                            Two Dubai IPOs are coming down the pipeline as DFM chases Gulf rush                        <\/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\/17\/two-dubai-ipos-are-coming-down-the-pipeline-as-dfm-chases-gulf-rush\/\" 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\/17\/two-dubai-ipos-are-coming-down-the-pipeline-as-dfm-chases-gulf-rush\/')\">\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\/17\/two-dubai-ipos-are-coming-down-the-pipeline-as-dfm-chases-gulf-rush\/\">\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=Two Dubai IPOs are coming down the pipeline as DFM chases Gulf rush&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/two-dubai-ipos-are-coming-down-the-pipeline-as-dfm-chases-gulf-rush\/\">\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\/17\/two-dubai-ipos-are-coming-down-the-pipeline-as-dfm-chases-gulf-rush\/&title=Two Dubai IPOs are coming down the pipeline as DFM chases Gulf rush\">\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=Two+Dubai+IPOs+are+coming+down+the+pipeline+as+DFM+chases+Gulf+rush+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F17%2Ftwo-dubai-ipos-are-coming-down-the-pipeline-as-dfm-chases-gulf-rush%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\/17\/two-dubai-ipos-are-coming-down-the-pipeline-as-dfm-chases-gulf-rush\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555537\" class=\"content-area-description single-story post-555537 post type-post status-publish format-standard hentry category-planet-finance tag-dubai-financial-market-dfm tag-enterpriseam tag-fdi tag-gulf-ipo-rush tag-ipo-watch tag-planet-finance tag-royal-dutch-shell 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-08\"><\/a> <strong>Dubai is holding on to its promise list more state-owned companies <\/strong><strong>with two more IPOs in the pipeline.<\/strong> IT firm <a href=\"https:\/\/www.starlinkme.net\/en-africa\">Starlink<\/a> plans to list on the Nasdaq Dubai in 1Q2022 in a transaction quarterbacked by our friends at EFG Hermes, marking the first listing of an IT firm on the city\u2019s exchange, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-11-15\/dubai-s-ipo-stampede-sees-first-private-firm-unveil-listing-plan?sref=mmeFTDW1\">Bloomberg<\/a> reported. The IPO of Dubai\u2019s flagship carrier Emirates and its units could soon follow, Chairman Sheikh Ahmed Bin Saeed Al Maktoum told Asharq (<a href=\"https:\/\/bit.ly\/3kA6rde\">watch, runtime: 8:46<\/a>). Dubai recently announced plans to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/7e3c0f38-4b7a-48bf-b830-84071cd7ee5d\">publicly list 10 state-owned firms<\/a>, including its toll system <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2a5b8cea-93e5-4bd6-b793-dfe43b5790ed\">Salik<\/a>, in an effort to raise trading volumes on its bourse to AED 3 tn and keep up with competition from neighboring Riyadh and Abu Dhabi.<\/p><p><strong>Dubai is offering incentives to IPO in efforts to catch up with the Abu Dhabi and Saudi <\/strong><strong>exchanges. <\/strong>The city\u2019s attempt to increase private sector share sales saw it <a href=\"https:\/\/twitter.com\/DFMalerts\/status\/1460603418427355140\">announce<\/a> financial support for companies during and following IPOs. Among the incentives, which come as the Dubai market attempts to get in on the Gulf\u2019s recent <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-09-30\/saudi-internet-services-firm-surges-on-debut-amid-gulf-ipo-rush?sref=mmeFTDW1\">IPO rush<\/a>, are a three-year waiver on various fees associated with listing and dividend distribution.<\/p><p><strong>Are <\/strong><strong>Saudi\u2019s<\/strong><strong> FDI plans pie in the sky? <\/strong>Saudi Arabia says it wants FDI to hit USD 100 bn annually by 2030, but missed targets are fuelling a credibility problem among potential investors, analysts tell <a href=\"https:\/\/www.reuters.com\/business\/energy\/saudi-arabias-race-attract-investment-dogged-by-scepticism-2021-11-16\/\">Reuters<\/a>. The country\u2019s Vision 2030 roadmap hinges on raising bns of USD in foreign investment, but after knockbacks from political scandals and the pandemic, FDI amounted to just USD 5.5 bn in 2020, less than the USD 8 bn recorded in 2015, and well below a near-USD 19 bn target set in 2016. Authorities say the plans are still at an early stage and kinks are being ironed out. But the new target \u201cdoes raise eyebrows as to how it looks quite unattainable,\u201d Capital Economics economist James Swanston told the newswire.<\/p><p><strong>Royal Dutch Shell to drop the Dutch, move HQ to tax-friendlier UK:<\/strong> Anglo-Dutch energy giant Shell will say goodbye to the European half of its identity as it moves its HQ from the Netherlands to the UK, according to a <a href=\"https:\/\/www.shell.com\/media\/news-and-media-releases\/2021\/november-press-release.html\">company statement<\/a>.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-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>11,413<\/p>\n<\/td>\n<td>\n<p>-0.7% (YTD: +5.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>11,827<\/p>\n<\/td>\n<td>\n<p>-0.1% (YTD: +36.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>8,352<\/p>\n<\/td>\n<td>\n<p>+1.0% (YTD: +65.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,287<\/p>\n<\/td>\n<td>\n<p>+1.0% (YTD: +31.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,701<\/p>\n<\/td>\n<td>\n<p>+0.4% (YTD: +25.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,327<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: +13.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 82.36<\/p>\n<\/td>\n<td>\n<p>+0.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 5.18<\/p>\n<\/td>\n<td>\n<p>+3.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,852<\/p>\n<\/td>\n<td>\n<p>-0.8%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 60,604<\/p>\n<\/td>\n<td>\n<p>-5.0% (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 0.7% yesterday<\/strong> on turnover of EGP 939 mn (36.4% below the 90-day average). Foreign investors were net sellers. The index is up 5.2% YTD.<\/p><p><strong>In the green: <\/strong>Orascom Development Egypt (+1.9%), TMG Holding (+1.4%) and Oriental Weavers (+0.8%).<\/p><p><strong>In the red: <\/strong>Pioneers Properties (-7.2%), Aspire Capital (-6.9%) and Egyptian Resorts Company (-6.8%).<\/p><p><strong>Asian markets are mostly in the green in early trading this morning<\/strong> though futures suggest a mixed open in Europe and the US, with shares largely expected to open in the red.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dubai-financial-market-dfm\/\">Dubai Financial Market (DFM)<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fdi\/\">FDI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gulf-ipo-rush\/\">Gulf IPO rush<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/royal-dutch-shell\/\">Royal Dutch Shell<\/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=\"555538\" 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=\"555538\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/turkey-and-the-uae-could-be-mending-ties-saudi-digs-in-heels-over-lebanon\/\">\r\n                            Turkey and the UAE could be mending ties; Saudi digs in heels over Lebanon                        <\/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\/17\/turkey-and-the-uae-could-be-mending-ties-saudi-digs-in-heels-over-lebanon\/\" 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\/17\/turkey-and-the-uae-could-be-mending-ties-saudi-digs-in-heels-over-lebanon\/')\">\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\/17\/turkey-and-the-uae-could-be-mending-ties-saudi-digs-in-heels-over-lebanon\/\">\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=Turkey and the UAE could be mending ties; Saudi digs in heels over Lebanon&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/turkey-and-the-uae-could-be-mending-ties-saudi-digs-in-heels-over-lebanon\/\">\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\/17\/turkey-and-the-uae-could-be-mending-ties-saudi-digs-in-heels-over-lebanon\/&title=Turkey and the UAE could be mending ties; Saudi digs in heels over Lebanon\">\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=Turkey+and+the+UAE+could+be+mending+ties%3B+Saudi+digs+in+heels+over+Lebanon+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F17%2Fturkey-and-the-uae-could-be-mending-ties-saudi-digs-in-heels-over-lebanon%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\/17\/turkey-and-the-uae-could-be-mending-ties-saudi-digs-in-heels-over-lebanon\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555538\" class=\"content-area-description single-story post-555538 post type-post status-publish format-standard hentry category-around-the-world tag-abu-dhabi tag-around-the-world tag-diplomacy tag-dubai tag-enterpriseam tag-lebanon tag-mohammed-bin-zayed-al-nahyan tag-politics tag-recep-tayyip-erdogan tag-saudi-arabia tag-turkey tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The Saudi foreign minister has said the kingdom has <\/strong><strong><a href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudi-arabia-sees-no-purpose-engaging-lebanon-this-time-says-foreign-minister-2021-11-14\/\">no plans<\/a><\/strong><strong> to engage with <\/strong><strong>Lebanon\u2019s government<\/strong> until its politicians take action to \u201cliberate Lebanon from the domination of Hezbollah,\u201d as the diplomatic rift between the two countries <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/940d19ca-305a-4a09-b026-c58f6d747207\">deepens<\/a>. Lebanon is facing its worst diplomatic crisis yet with Gulf states, after newly appointed information minister George Kordahi (the former game show host) made critical comments about the Saudi-led intervention in Yemen, prompting Riyadh to expel the Lebanese ambassador, recall its own envoy and ban imports from the country.<\/p>\n<p><strong>Are the UAE and Turkey patching things up? <\/strong>Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed al Nahyan will soon be heading to Turkey for the first time in years to hold talks with Turkish President Recep Tayyip Erdogan in efforts to restore ties between the two countries, two Turkish officials told <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/abu-dhabi-crown-prince-visit-turkey-soon-nov-24-turkish-officials-2021-11-15\/\">Reuters<\/a>.<\/p>\n<p><strong>D<\/strong><strong>ubai has started issuing five-year multiple-entry visas to employees of foreign companies operating in the UAE<\/strong><strong>.<\/strong> The policy, announced by Crown Prince Hamdan Bin Mohammed on <a href=\"https:\/\/twitter.com\/HamdanMohammed\/status\/1460639305815117831?s=20\">Twitter<\/a>, will allow foreign employees not resident in the emirate to easily get in and out of the country for events, conferences and exhibitions.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abu-dhabi\/\">Abu Dhabi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/around-the-world\/\">Around the World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                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-->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"555539\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n     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href=\"https:\/\/enterpriseam.com\/egypt\/hardhat\/\">\r\n                            Read Hardhat                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">13<\/div>\r\n    \r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/a-shot-in-the-arm-for-our-energy-hub-ambitions\/\"> \r\n                            A shot in the arm for our energy hub ambitions?<\/a>\r\n                        <\/h3>\r\n    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" 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class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/a-shot-in-the-arm-for-our-energy-hub-ambitions\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/496.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"555540\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/a-shot-in-the-arm-for-our-energy-hub-ambitions\/496-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/496.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"496.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/496.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/496.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-555539\" class=\"content-area-description post-555539 hardhat type-hardhat status-publish has-post-thumbnail hentry tag-damietta-lng-plant tag-eastern-mediterranean-gas-forum tag-energy tag-enterprise-hardhat tag-enterpriseam tag-germany tag-israel tag-jeremy-weir tag-lebanon tag-nord-stream-2-project tag-oil-and-gas tag-russia tag-suez-canal tag-suhail-al-mazrouei tag-trafigura tag-uae tag-vladimir-putin 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-07\"><\/a> <strong>A flurry of regional and international energy news out yesterday could give Egypt a chance to boost its regional energy hub ambitions.<\/strong> An Israel-UAE pipeline agreement that looked to threaten Egypt\u2019s position as a regional energy player and eat into the Suez Canal\u2019s importance as a vital shipping route for fuel appears under threat. And Russia\u2019s long-planned Nordstream gas pipeline to Europe just received the cold shoulder from Berlin, potentially leaving Europe searching for new sources of gas.<\/p>\n<p><strong>Tel Aviv wants to back out of the UAE pipeline agreement over \u201cenvironmental risks,\u201d<\/strong> Israeli Energy Minister Karine Elharrar said in a radio interview, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-11-16\/israel-energy-minister-says-uae-pipeline-deal-should-be-scrapped?sref=mmeFTDW1\">Bloomberg<\/a> reports. The agreement, signed in October of last year, is one of the biggest to emerge from the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4a356ca5-72ec-4b05-857c-f572ae2910da\">normalization of ties<\/a> between Israel and the UAE. The agreement would have seen oil brought from the Gulf to Israel via a \u201cland bridge\u201d and then shipped out to Europe from Israel\u2019s coast on the Mediterranean. Politicians and environmental groups have voiced their opposition to the agreement, saying that the influx of tankers and crude oil was an ecological risk to nearby corals. Elharrar, who is one of the main voices of opposition, said there was a high chance the agreement would be canceled, saying \u201cthere\u2019s no advantage for the state.\u201d UAE Energy Minister Suhail al-Mazrouei declined to comment to <a href=\"https:\/\/www.reuters.com\/business\/energy\/israels-energy-minister-calls-cancel-oil-pipeline-deal-with-uae-firm-2021-11-16\/\">Reuters<\/a>.<\/p>\n<p><strong>Why is this good news for Egypt? Plans for the pipeline would have allowed the oil to entirely bypass the Suez Canal<\/strong> before being shipped to Western countries, potentially depriving us from a source of revenue. Nearly 66% of oil sent from the GCC to western countries is shipped through the Suez Canal or the Sumed pipeline linking Alexandria to the Red Sea.<\/p>\n<p><strong>Meanwhile, Germany just said \u201cthanks, but no thanks\u201d to its only lifeline amid Europe\u2019s energy crisis: <\/strong>Berlin \u201ctemporarily suspended\u201d certification of the Nord Stream 2 pipeline due to a technicality in German law that required the pipeline\u2019s owners to set up an operating subsidiary before moving forward, Germany\u2019s energy regulator said in a <a href=\"https:\/\/www.bundesnetzagentur.de\/SharedDocs\/Pressemitteilungen\/EN\/2021\/20211116_NOS2.html?nn=404530\">press release<\/a>. The Russia-backed Nord Stream 2 project created a German subsidiary to own and operate the German section of the pipeline, but still needs to \u201cmeet the requirements of the Energy Industry Act for an independent transport network operator.\u201d The project has four months to meet the requirements and achieve certification.<\/p>\n<p><strong>What does this mean exactly? It\u2019s gonna be a cold winter\u2026 <\/strong>EU officials had already been hesitant about the proposed project, saying they \u201c<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/77642e2d-76b5-4221-821d-068b43c6257d\">want a break<\/a>\u201d from the bloc\u2019s energy dependence on Russia. Nonetheless, the Kremlin had been putting pressure on Germany to get the Nord 2 project certified and have a base to transport natural gas throughout Europe, with <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8dc1a09f-6579-49cd-baa1-2dc06b43aa8e\">rumors<\/a> that Russia had been withholding gas to twist their arm. While Russian President Vladimir Putin had promised to increase gas supply to Germany and Austria amid <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8294ecc4-07f7-483c-87a8-be0f5223f0eb\">pressure from the International Energy Agency<\/a> (IEA), there have been only limited increases since then. Germany\u2019s move is \u201clikely to increase fears that Russian flows will remain at relatively low,\u201d writes the <a href=\"https:\/\/www.ft.com\/content\/a5141b69-0655-48b2-a53a-76d841b02702\">Financial Times<\/a>.<\/p>\n<p><strong>\u2026but maybe we can lend a hand: <\/strong>The East Mediterranean is swimming in natural gas and the recently-ratified <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/721b0df8-87fd-400e-af60-663496bde9e8\">East Mediterranean Gas Forum<\/a> brought together Egypt, Cyprus, Greece, Israel, Italy, Jordan and Palestine to coordinate project exploration. Cairo currently houses the headquarters of the forum. Meanwhile, Egypt continues to be a net exporter of natural gas and LNG and the revival of the Damietta liquefied natural gas plant online earlier in the year <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f6a3036a-5d06-47cb-996e-23372a87145a\">was expected<\/a> to boost Egyptian natgas supplies to Europe.<\/p>\n<p><strong>There are definitely prospects in the long run: <\/strong>Earlier this year, Egypt and Israel agreed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3613f080-5d75-4b85-af31-1b66fcda3204\">to build a pipeline<\/a> that will connect Israel\u2019s offshore Leviathan gas field to Egypt\u2019s liquefaction plants in the aim of providing natural gas to Europe. Meanwhile, Egypt also has a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/721b0df8-87fd-400e-af60-663496bde9e8\">planned pipeline<\/a> in the works that will connect Cyprus\u2019 Aphrodite natural gas field to Egypt. The pipeline will allow Cyprus to export its gas to Europe via Egypt\u2019s liquefaction facilities, and is currently expected to be operational in 2024 or 2025.<\/p>\n<p><strong>Is the window for natgas narrowing as oil prices balance out? <\/strong>The IEA predicts that \u201ca reprieve from the price rally could be on the horizon\u201d as the US and Mexico ramp up oil production. The sentiment echoes Allianz Chief Economist Mohamed El Erian who said this week that he doesn\u2019t see oil prices breaking the USD 100 mark. The comments come as Brent and US crude surged past USD 80 per barrel in recent weeks, thanks to post-pandemic demand outstrippng supply. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-11-16\/iea-says-end-of-oil-price-rally-in-sight-as-production-recovers?sref=mmeFTDW1\">Bloomberg<\/a> and <a href=\"https:\/\/www.cnbc.com\/2021\/11\/16\/oil-prices-iea-sees-a-potential-reprieve-as-us-production-rises.html\">CNBC<\/a> have the story.<\/p>\n<p><strong>ALSO- Updates on the Egypt-Lebanon pipeline: <\/strong>Egypt is expected to begin exporting 60-65 mn cbf \/ d of natural gas to Lebanon by early next year through the Arab Gas Pipeline, Oil Minister Tarek El Molla said in a conference in Dubai yesterday, reports <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/supplies-egyptian-gas-expected-lebanon-by-early-2022-minister-2021-11-16\/\">Reuters<\/a>. This is a bit of a shift, with El Molla saying that the pipeline would be operational <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a808ab85-a831-4d56-9377-c799e5e29d18\">by the end of this year<\/a>. The project is currently undergoing due diligence, El Molla added. The pipeline connects Egypt to Lebanon via Jordan and Syria and will be used to feed a power plant in the north of the country.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top infrastructure stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>The House of Representatives gave <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5834140b-d304-4c1c-9483-4b92c5ad8478\">its final approval<\/a><\/strong><strong> to amendments to the PPP<\/strong><strong> Act<\/strong>, clearing the way for the private sector to bid for infrastructure projects, including in transport, energy, communications and healthcare.<\/li>\n<li><strong>The EGP 2.4 bn Suez medical complex will be complete and ready during March<\/strong>, Prime Minister Moustafa Madbouly <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/271612055009222\">said<\/a>. The complex is part of the government\u2019s national health ins. system and is currently 64% complete, acting Health Minister <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/271517871685307\">Khaled Abdel Ghaffar said<\/a>.<\/li>\n<li><strong>New desalination + sewage projects:<\/strong> Danish industrial conglomerate AVK Group is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7667353d-636f-4d99-96ff-487f9d4f97da\">looking to establish<\/a> two water desalination and sewage treatment projects in the new capital and Damietta.<\/li>\n<li><strong>Even more transport agreements:<\/strong> Egypt signed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b705927d-ff68-4720-8bae-3b3dfde3705d\">several more<\/a> agreements on transport infrastructure with foreign and local companies on the final day of the TransMea 2021 conference. The first two days of the conference saw <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3a59711e-961d-4304-9ac3-b76ecef25fbc\">a total of 21 agreements<\/a> signed.<\/li>\n<li><strong>Financing sustainable transport infrastructure:<\/strong> A <a href=\"https:\/\/ent.news\/2021\/11\/TransMea-EU-Press-Release.en-10112021.pdf\">panel discussion (pdf)<\/a><sup><\/sup> last week organized by the EU delegation to Egypt and the Transport Ministry discussed best practices in financing vital transport infrastructure projects.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/damietta-lng-plant\/\">Damietta LNG plant<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eastern-mediterranean-gas-forum\/\">Eastern Mediterranean Gas Forum<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/germany\/\">Germany<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jeremy-weir\/\">Jeremy Weir<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lebanon\/\">Lebanon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nord-stream-2-project\/\">Nord Stream 2 project<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal\/\">Suez Canal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suhail-al-mazrouei\/\">Suhail al-Mazrouei<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/trafigura\/\">Trafigura<\/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\/vladimir-putin\/\">Vladimir Putin<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"555541\" 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\/17\/555541\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555541\" class=\"content-area-description single-story post-555541 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>15-21 November (Monday-Sunday): <a href=\"https:\/\/www.intrafricantradefair.com\/en\">Intra-African Trade Fair 2021<\/a>, Durban, KwaZulu-Natal, South Africa.<\/p>\n<p>16-17 November (Tuesday-Wednesday): <a href=\"https:\/\/africafintechsummit.com\">Africa fintech summit<\/a>, Cairo.<\/p>\n<p>18-19 November (Thursday-Friday): British royal family members Prince Charles and the Duchess of Cornwall visit Cairo.<\/p>\n<p>23 November: 2021 Common Market for Eastern and Southern Africa (Comesa) summit in Sharm El Sheikh.<\/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 November (Thursday): Ibnsina Pharma\u2019s <a href=\"https:\/\/ent.news\/2021\/11\/Ibn-Sina_Pharma-earnings-report-141121.pdf\">extraordinary general assembly meeting (pdf)<\/a> to discuss the company\u2019s planned capital increase to EGP 280 mn through a share issuance.<\/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>28 November-1 December (Sunday-Wednesday): <a href=\"https:\/\/creativeindmena.com\/\">Creative Industry Summit<\/a>, Nile Ritz-Carlton.<\/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>End of November: El Nasr Automotive expects to have found a replacement for Dongfeng as its partner for its local EV assembly plans.<\/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 December (Sunday): Raya Holding\u2019s Ordinary General Assembly meeting.<\/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>15 December (Wednesday): The European Bank for Reconstruction and Development will give its final approval for a USD 100 mn facility to state-owned Banque Misr to finance local SMEs working on green projects.<\/p>\n<p>16 December (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>End of 4Q2021: EdVentures plans to have closed at least one more edtech investment round.<\/p>\n<p>End of 4Q2021: Fawry plans to have launched its MyFawry card.<\/p>\n<p>1 January 2022: Capital gains tax comes into effect on the EGX for local investors.<\/p>\n<p>1Q2022: <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9cd1fc44-1593-4317-8658-0aa792215521\">Launch of the Egyptian Commodities Exchange<\/a>.<\/p>\n<p>1Q2022: Swvl acquisition of Viapool expected to close.<\/p>\n<p>10-13 January 2022 (Monday-Thursday): <a href=\"https:\/\/wyfegypt.com\/\">World Youth Forum<\/a>, Sharm El Sheikh.<\/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>11 February 2022 (Friday): <a href=\"https:\/\/finance.yahoo.com\/news\/vistas-media-acquisition-company-inc-203000610.html\">Deadline for Anghami SPAC merger<\/a>.<\/p>\n<p>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>1H2022: e-Aswaaq\u2019s tourism platform will roll out its ticketing and online booking portal across Egypt.<\/p>\n<p>1H2022: e-Finance\u2019s digital healthcare service platform, eHealth, will launch its services.<\/p>\n<p>March 2022: World Cup playoffs.<\/p>\n<p>2 April 2022 (Saturday): First day of Ramadan (TBC).<\/p>\n<p>22-24 April 2022 (Friday-Sunday):<a href=\"http:\/\/sdg.iisd.org\/events\/2022-spring-meetings-of-the-world-bank-group-and-the-international-monetary-fund\/\">World Bank-IMF spring meeting<\/a>, Washington D.C.<\/p>\n<p>24 April 2022 (Sunday): Coptic Easter Sunday (holiday for Coptic Christians).<\/p>\n<p>25 April 2022 (Monday): Sham El Nessim.<\/p>\n<p>25 April 2022 (Monday): Sinai Liberation Day.<\/p>\n<p>May 2022: Investment in Logistics Conference, Cairo, Egypt.<\/p>\n<p>2 May 2022 (Monday): Eid El Fitr (TBC).<\/p>\n<p>16 June 2022 (Thursday): End of 2021-2022 academic year for public schools.<\/p>\n<p>27 June-3 July 2022 (Monday-Sunday): World University Squash Championships, New Giza.<\/p>\n<p>30 June 2022 (Thursday): June 30 Revolution Day, national holiday.<\/p>\n<p>2H2022: <a href=\"https:\/\/www.ief.org\/news\/egypt-to-host-8th-ief-igu-ministerial-gas-forum-in-2022\">IEF-IGU Ministerial Gas Forum<\/a>, Egypt. Date + location TBA.<\/p>\n<p>8 July (Friday): Arafat Day.<\/p>\n<p>9-13 July (Saturday-Wednesday): Eid Al Adha, national holiday.<\/p>\n<p>30 July (Saturday): Islamic New Year.<\/p>\n<p>6 October (Thursday): Armed Forces Day, national holiday.<\/p>\n<p>8 October (Saturday): Prophet Muhammad\u2019s birthday.<\/p>\n<p>18-20 October 2022 (Tuesday-Thursday): Mediterranean Offshore Conference, Alexandria, Egypt.<\/p>\n<p><strong>**Note to readers:<\/strong> Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish below between the actual holiday and its observance.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":555517,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-555516","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"35be631f-4cba-4cd2-a375-8d3194755a4a","teaser":"","photo_url":"https:\/\/ent.news\/2021\/11\/487.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>Between earnings madness and a key policy meeting, it\u2019s a big day for the EGX - 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\/between-earnings-madness-and-a-key-policy-meeting-its-a-big-day-for-the-egx\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Between earnings madness and a key policy meeting, it\u2019s a big day for the EGX\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/between-earnings-madness-and-a-key-policy-meeting-its-a-big-day-for-the-egx\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T00:56:23+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\/487.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\/between-earnings-madness-and-a-key-policy-meeting-its-a-big-day-for-the-egx\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/between-earnings-madness-and-a-key-policy-meeting-its-a-big-day-for-the-egx\/\",\"name\":\"Between earnings madness and a key policy meeting, it\u2019s a big day for the EGX - 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