{"id":555667,"date":"2021-11-23T04:00:06","date_gmt":"2021-11-23T04:00:06","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=555667"},"modified":"2025-12-16T01:00:03","modified_gmt":"2025-12-16T01:00:03","slug":"aldar-adqs-bid-to-acquire-sodic-gets-regulatory-approval","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/aldar-adqs-bid-to-acquire-sodic-gets-regulatory-approval\/","title":{"rendered":"Aldar + ADQ\u2019s bid to acquire SODIC gets regulatory approval"},"content":{"rendered":"<section id=\"555669\" 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=\"555669\">\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\/23\/this-morning-powell-stays-on-for-second-term-as-fed-chair-schools-closed-in-alex-again-abiy-ahmed-marches-into-battle\/\">\r\n                            THIS MORNING: Powell stays on for second term as Fed chair; Schools closed in Alex again; Abiy Ahmed marches into battle.                        <\/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\/23\/this-morning-powell-stays-on-for-second-term-as-fed-chair-schools-closed-in-alex-again-abiy-ahmed-marches-into-battle\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Schools closed in Alex again; Abiy Ahmed marches into battle.\">\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+Powell+stays+on+for+second+term+as+Fed+chair%3B+Schools+closed+in+Alex+again%3B+Abiy+Ahmed+marches+into+battle.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F23%2Fthis-morning-powell-stays-on-for-second-term-as-fed-chair-schools-closed-in-alex-again-abiy-ahmed-marches-into-battle%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\/23\/this-morning-powell-stays-on-for-second-term-as-fed-chair-schools-closed-in-alex-again-abiy-ahmed-marches-into-battle\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555669\" class=\"content-area-description single-story post-555669 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-abiy-ahmed tag-biden-administration tag-enterpriseam tag-ethiopia tag-financial-markets tag-inflation tag-interest-rates tag-jerome-powell tag-war tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Good morning, everyone, and happy hump day. <\/strong>It\u2019s a great day for capital markets after the FRA gave its long-awaited blessing to the UAE\u2019s Aldar and ADQ to go ahead with their bid to acquire upmarket developer SODIC. Also a must-read this morning is our Going Green piece on the future of Egypt\u2019s plans to roll out electric vehicles nationwide after the breakup with China\u2019s Dongfeng \u2014 see it as a chance to bring in a more compelling partner. Oh, and did we mention your next iPhone is going to cost a bit more?<\/p><p><strong>Further afield:<\/strong> The leader of Ethiopia says he\u2019s literally going to the front lines to take on rebels who are advancing on his capital \u2014 and Elon Musk has fired a broadside at JPMorgan\u2019s Jamie Dimon \u2026 likely from his toilet.<\/p><p>All of this and more below.<\/p><p><strong>PSA: School\u2019s off again in Alexandria.<\/strong> Alexandria <a href=\"https:\/\/www.facebook.com\/Alex.Gov.Eg\/posts\/262936355859088?__cft__%5B0%5D=AZVDfVps4RExwp47B3e-N-5fssdeMmuICv5effWWJvDLPjGbZ3Q3g00ACuHBdRXeQ6e-MP7tIjDIDAyq86Vc9DohouUJmG1XYZbubASUT_6aWDj0zMp6sH7Lnd3GsCLvllBJTR4GWfHpKDGug_9gZjSLlOY-ggHRnc00uMcs2Rmlyg&amp;__tn__=%2CO%2CP-R\">has given public and private schools the<\/a><a href=\"https:\/\/www.facebook.com\/Alex.Gov.Eg\/posts\/262936355859088?__cft__%5B0%5D=AZVDfVps4RExwp47B3e-N-5fssdeMmuICv5effWWJvDLPjGbZ3Q3g00ACuHBdRXeQ6e-MP7tIjDIDAyq86Vc9DohouUJmG1XYZbubASUT_6aWDj0zMp6sH7Lnd3GsCLvllBJTR4GWfHpKDGug_9gZjSLlOY-ggHRnc00uMcs2Rmlyg&amp;__tn__=%2CO%2CP-R\">day off today<\/a> and has told non-essential public sector workers to stay home as authorities work to clear the streets following the deluge of rain yesterday. We have more in Last Night\u2019s Talk Shows, below.<\/p><p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>THE BIG STORY IN THE GLOBAL BUSINESS PRESS- Jay Powell looks set<\/strong><strong> to stay on at the helm of <\/strong><strong>the Federal Reserve for another four years<\/strong> after President Joe Biden opted for continuity and nominated him for a second term yesterday. Lael Brainard, Powell\u2019s main rival for the top spot at the central bank, has been appointed vice-chair and will replace Richard Clarida when the new term starts in February.<\/p><p><strong>A safer pair of hands?<\/strong> The decision to stick with Powell sends a message to the market that a) the Biden administration recognizes the importance of policy continuity in uncertain times and b) the world\u2019s most powerful central bank will remain unafraid to confront inflation and tighten policy if necessary. Powell has overseen a historic monetary policy response to the pandemic and guided the economy through one of the swiftest and deepest recessions on record. He was the market\u2019s preferred candidate to steer the ship as inflation reaches multi-decade highs and supply chain snarls show no sign of ending. Under his leadership, the central bank has begun to do just that, reducing its huge asset-purchase programme this month and signalling that more could be done if the problems persist.<\/p><p><strong>The new vice-chair:<\/strong> Brainard, the pick of liberals and progressives in the Democratic Party, is to the left of Powell on issues including regulation and climate change, and though she talked of the importance of reining in inflation, market sentiment had her as a dove: more tolerant of higher inflation and more hesitant to dial back monetary stimulus.<\/p><p><strong>There was a positive reception from the markets<\/strong>, with US stocks rising following the announcement and Wall Street execs praising the decision. \u201cOf course everybody was relieved,\u201d bn\u2019aire hedge fund manager Marc Lasry <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-11-22\/wall-street-breathes-sigh-of-relief-after-powell-secures-backing?srnd=premium-middle-east&amp;sref=mmeFTDW1\">said<\/a>. \u201cThe markets believe that he will do what is necessary to keep the markets calm and have them move forward.\u201d<\/p><p><strong>But there was still time for a late-day reversal:<\/strong> While US stocks rose initially after the announcement, indexes turned negative in the final hour of trading and bonds sold off. The Nasdaq fell more than 1% while the S&amp;P 500 dropped 0.3%. The yield on 10-year treasuries climbed seven basis points and the greenback strengthened.<\/p><p><strong>The story is everywhere this morning:<\/strong> <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-11-22\/biden-keeps-powell-as-fed-chief-elevates-brainard-to-vice-chair?sref=mmeFTDW1\">Bloomberg<\/a> | <a href=\"https:\/\/www.ft.com\/content\/9e9540a2-2ba8-4e0e-84d8-a1945c20453a\">FT<\/a> | <a href=\"https:\/\/www.reuters.com\/markets\/us\/powell-tapped-second-term-fed-chair-2021-11-22\/\">Reuters<\/a> | <a href=\"https:\/\/www.cnbc.com\/2021\/11\/22\/biden-picks-jerome-powell-to-lead-the-fed-for-a-second-term-as-the-us-battles-covid-and-inflation.html\">CNBC<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/business\/asian-shares-mixed-after-china-warning-on-risks-stagflation\/2021\/11\/21\/3515da48-4b4f-11ec-a7b8-9ed28bf23929_story.html\">Washington Post<\/a> | <a href=\"https:\/\/www.nytimes.com\/2021\/11\/22\/business\/economy\/fed-chair-jerome-powell-biden.html\">New York Times<\/a>.<\/p><p><strong>MEANWHILE- The 2019 Nobel Prize winner is going full Braveheart:<\/strong> Ethiopian Prime Minister Abiy Ahmed is apparently heading to the battlefront, pledging yesterday to lead his troops into battle against Tigray rebels that have in recent weeks advanced closer to the nation\u2019s capital and threatened to plunge the country into all-out civil war. \u201cStarting tomorrow, I will mobilize to the front to lead the defence forces,\u201d he wrote in <a href=\"https:\/\/www.facebook.com\/PMAbiyAhmedAli\/posts\/666400078107992\">a statement<\/a> on social media. \u201cThis is a time when leading a country with martyrdom is needed.\u201d<\/p><p><strong>Ethiopian government forces have been fighting a year-long war against rebels in the Tigray region<\/strong>, which has sharply escalated in recent weeks. The government declared a six-month state of emergency earlier this month and urged people living in the capital to arm themselves and protect their neighborhoods. \u201cThis is so extraordinary and unprecedented, shows how desperate the situation is,\u201d Awol Allo \u2014 the man who nominated Ahmed for the Nobel prize \u2014 wrote in a <a href=\"https:\/\/twitter.com\/awolallo\/status\/1462884904467841024?s=20\">tweet<\/a>. (<a href=\"https:\/\/www.france24.com\/en\/live-news\/20211122-ethiopia-s-abiy-vows-to-head-to-war-front-amid-rebel-advance\">AFP<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/world\/2021\/11\/22\/abiy-ahmed-ethiopia-nobel-tigray\/\">Washington Post<\/a> | <a href=\"https:\/\/www.theguardian.com\/world\/2021\/nov\/22\/ethiopian-pm-vows-to-marshal-troops-in-war-against-rebels\">The Guardian<\/a>)<\/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>SIGN OF THE TIMES #1- The SAT \u2014 and standardized testing in general \u2014 just got dealt <\/strong><strong>another body blow<\/strong>, as the University of California said that they would not look at any alternative \u201cstandardized test\u201d to help it make admission decisions. No other exam \u201cwould avoid the biased results\u201d that led the school to dump the SAT last year. The UofC system\u2019s adoption of the SAT a half-century ago helped turn it into a \u201cmust-take\u201d for generations of kids seeking college admission in the US. The <a href=\"https:\/\/www.latimes.com\/california\/story\/2021-11-18\/uc-slams-door-on-sat-and-all-standardized-admissions-tests?utm_id=42788&amp;sfmc_id=2422861\">Los Angeles Times<\/a> has the story.<\/p><p><strong>SIGN OF THE TIMES #2- Elon Musk is literally threatening to give JPMorgan a one-star <\/strong><strong>review on Yelp<\/strong> as his feud with JPM boss Jamie Dimon continues. The edge lord \u2014 who said overnight that <a href=\"https:\/\/twitter.com\/elonmusk\/status\/1462652210739884035\">he tweets at least 50% of the time from his \u201cporcelain throne\u201d<\/a> \u2014 made the threat in an exclusive with the <a href=\"https:\/\/www.wsj.com\/articles\/jpmorgans-jamie-dimon-and-teslas-elon-musk-feud-behind-the-scenes-11637586001?mod=hp_lead_pos6\">Wall Street Journal<\/a>.<\/p><p><strong>MORNING MUST-READ- <\/strong><strong><a href=\"https:\/\/www.ft.com\/content\/3cff0294-4c4d-4e29-b482-1f6f41889399\">Where did all the workers go?<\/a><\/strong> in the Financial Times, wherein the salmon-coloured paper looks at how immigration, retirement and poor pay and working conditions are reshaping the labor market around the world. It\u2019s the first in a series and worth keeping an eye on.<\/p><p><strong>WHAT\u2019S HAPPENING TODAY-<\/strong><\/p><p><strong>BOOK LAUNCH- <\/strong><strong><a href=\"https:\/\/www.amazon.com\/Up-Doing-Street-Washington-Investing\/dp\/163331054X\">Up and Doing<\/a><\/strong><strong>, a memoir penned by Egyptian-American Ent<\/strong><strong>erprise Fund <\/strong><strong>Chairman James Harmon<\/strong> (<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7631af1a-495f-4db0-bcc1-3563e1f33f0d\">Morning Routine<\/a>), will be published today. The memoir recounts Harmon\u2019s career as a banker and discusses \u201chow markets can move the world forward by creating stable, growing economies and sound [transactions] that promote economic development.\u201d<\/p><p>The new administrative capital plays host to a <strong>Comesa summit<\/strong> today, while ITIDA and the Software Engineering Competence Center are hosting a webinar on <strong><a href=\"https:\/\/register.gotowebinar.com\/register\/1994227539316855563\">fintech in Egypt<\/a><\/strong>.<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>The Home Appliances and Table Show (<\/strong><strong><a href=\"http:\/\/hatsegypt.com\/\">HATS Egypt<\/a><\/strong><strong>)<\/strong> kicked off yesterday and wraps up on Wednesday. The event is organized by the Engineering Export Council of Egypt and brings together companies working in the home appliances sector.<\/p><p>Startup gathering <strong><a href=\"https:\/\/www.facebook.com\/events\/857701738279267\/\">RiseUp<\/a><\/strong> starts on Thursday and runs through Saturday.<\/p><p>The <strong><a href=\"https:\/\/www.facebook.com\/CairoFilms\/photos\/a.386668088207064\/1611462495727611\/\">Cairo International Film Festival<\/a><\/strong> kicks off its weeklong run this coming Friday.<\/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\/2021\/3\/INFINITY-Top-banner-EN-1600x675-v2-02.png?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p><p><strong>In today\u2019s issue: <\/strong>Egypt\u2019s plans to locally assemble electric vehicles are moving forward, despite the recent <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f0f9e19-5e30-400f-8dba-6213afd8fb58\">breakdown in negotiations<\/a> between state-owned El Nasr Automotive and China\u2019s Dongfeng \u2014 which had previously agreed to partner to assemble Dongfeng\u2019s E70 vehicles here in Egypt. Today, El Nasr Managing Director Hany El Kholy talks to Enterprise about why the talks fell through.<\/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\/abiy-ahmed\/\">Abiy Ahmed<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/biden-administration\/\">Biden administration<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ethiopia\/\">Ethiopia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jerome-powell\/\">Jerome Powell<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/war\/\">war<\/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=\"555670\" 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=\"555670\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/555670\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555670\" class=\"content-area-description single-story post-555670 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-Oceanman1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n<p>Somabay will proudly be hosting the upcoming Oceanman World Final Championship which will be held from the 2nd to the 4th of December. Oceanman is the first and biggest open water swimming franchise in the world, combining amateurs and professionals from all over the world with ages ranging from eight to 70 years old.<\/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=\"555671\" 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=\"555671\">\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\/23\/aldar-adq-acquisition-of-sodic-approved-by-fra\/\">\r\n                            Aldar-ADQ acquisition of SODIC approved by FRA                        <\/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\/23\/aldar-adq-acquisition-of-sodic-approved-by-fra\/\" 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\/23\/aldar-adq-acquisition-of-sodic-approved-by-fra\/')\">\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\/23\/aldar-adq-acquisition-of-sodic-approved-by-fra\/\">\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=Aldar-ADQ acquisition of SODIC approved by FRA&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/aldar-adq-acquisition-of-sodic-approved-by-fra\/\">\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\/23\/aldar-adq-acquisition-of-sodic-approved-by-fra\/&title=Aldar-ADQ acquisition of SODIC approved by FRA\">\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=Aldar-ADQ+acquisition+of+SODIC+approved+by+FRA+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F23%2Faldar-adq-acquisition-of-sodic-approved-by-fra%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\/23\/aldar-adq-acquisition-of-sodic-approved-by-fra\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/556.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"555672\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/aldar-adq-acquisition-of-sodic-approved-by-fra\/556-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/556.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"556.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/556.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/556.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555671\" class=\"content-area-description single-story post-555671 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-aldar-properties tag-enterpriseam tag-ma-watch tag-manufacturing tag-real-estate tag-sodic tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Aldar-ADQ bid for SODIC is one step closer to materializing after getting<\/strong><strong> regulatory green light: <\/strong>The UAE\u2019s Aldar Properties and sovereign wealth fund ADQ\u2019s bid to acquire 90% of upmarket real estate developer SODIC is poised to move forward after the Financial Regulatory Authority (FRA) greenlit the offer yesterday, according to a <a href=\"https:\/\/ent.news\/2021\/11\/Sodic-ADQ-AldarFRA.pdf\">statement (pdf)<\/a>. The market regulator\u2019s signoff comes two months after the consortium <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/248e5d41-7c58-42ed-abe9-f67d9ac74995\">presented its offer<\/a> in September. The regulator released the statement after trading on the EGX closed yesterday.<\/p>\n<p><strong>What\u2019s being offered:<\/strong> The Emirati consortium \u2014 which is 70% owned by Al Dar and 30% owned by ADQ \u2014 is looking to pay EGP 20 per share in an all-cash transaction, valuing SODIC at around EGP 7.1 bn (USD 452 mn). The final bid saw the consortium up its offer from its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/65445c53-bf8c-4144-8e37-6daa4e7031c0\">original EGP per share 18-19 bid<\/a> in March, which would have valued the company at EGP 6.6 bn.<\/p>\n<p><strong>Some shareholders want a valuation made public:<\/strong> SODIC had ordered a fair value assessment <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/607f07dc-39e5-41e8-92e6-e07275e4c2e7\">back in April<\/a>. If the company makes the results public, it would help \u201cguide minority shareholders on the real value of the company,\u201d Act Financial CEO Bassem Azab told Enterprise. Act is part of a consortium with Hassan Allam Properties and Concrete Plus Engineering and Construction that together is the company\u2019s single largest shareholder, owning a 15% stake. Sharing the fair value assessment with the rest of the market \u201cshould help shareholders make the right decision\u201d on Aldar\u2019s bid, Azab said.<\/p>\n<p><strong>What now?<\/strong> Now that the mandatory tender offer got final regulatory approval, the details of the offer should be made public within the coming days and shareholders will be given the chance to weigh in. Shareholders must agree to sell at least 51% of SODIC\u2019s shares for the agreement to go through. Market regulations for MTOs typically give shareholders 10-30 working days to respond and Aldar has the right to adjust its offer price throughout the process.<\/p>\n<p><strong>The interest in SODIC \u2014 particularly from a regional player of Aldar\u2019s size \u2014 should have a positive impact on the country\u2019s real estate industry as a whole<\/strong>, as it signals foreign appetite for a sector that is underperforming largely because of market dynamics, Azab said. \u201cEven if the transaction doesn\u2019t go through for any reason, just the expression of interest that people want to buy a company in Egypt is a vote of confidence in the economy and stock market,\u201d Azab says. There are also multiple attractive potential targets in other industries for inbound M&A, Azab says, suggesting this is the \u201ckey road going forward\u201d to boost the EGX.<\/p>\n<p><strong>Aldar might want more of Egypt\u2019s real estate sector: <\/strong>The acquisition of SODIC \u201cis a part of Aldar\u2019s overall expansion strategy into the attractive Egyptian real estate market, with Aldar currently assessing several opportunities,\u201d it said in September.<\/p>\n<p><strong>OTHER M&A NEWS-<\/strong><\/p>\n<p><strong>Irish insulation manufacturer wants a piece of construction player ICON:<\/strong> Ireland-based insulation manufacturer <a href=\"https:\/\/www.kingspan.com\/meati\/en-in\/about-kingspan\/kingspan-insulated-panels\">Ki<\/a><a href=\"https:\/\/www.kingspan.com\/meati\/en-in\/about-kingspan\/kingspan-insulated-panels\">ngspan<\/a> is bidding to acquire at least 65% of the Industrial Engineering Company for Construction and Development\u2019s (<a href=\"https:\/\/www.iconegypt.com\/\">ICON<\/a>) sandwich panel manufacturing division, ICON said in a <a href=\"https:\/\/ent.news\/2021\/11\/ICON-Kingspan-Acquisition-Disclosure.pdf\">disclosure (pdf)<\/a> to the EGX. The potential acquisition would see ICON spin off the division (which manufactures components used to insulate the exteriors of buildings) into a separate company in which Kingspan would then buy a stake. The non-binding offer will be presented to ICON\u2019s board of directors to assess.<\/p>\n<p><strong>How much are they offering? <\/strong>Kingspan said it would offer the equivalent of 8.5x the unit\u2019s 2021 EBITDA.<\/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\/aldar-properties\/\">Aldar Properties<\/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\/manufacturing\/\">Manufacturing<\/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\/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<section id=\"555673\" 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=\"555673\">\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\">Customs<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/your-next-mobile-phone-is-going-to-cost-more\/\">\r\n                            Your next mobile phone is going to cost more                        <\/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\/23\/your-next-mobile-phone-is-going-to-cost-more\/\" 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\/23\/your-next-mobile-phone-is-going-to-cost-more\/')\">\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\/23\/your-next-mobile-phone-is-going-to-cost-more\/\">\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=Your next mobile phone is going to cost more&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/your-next-mobile-phone-is-going-to-cost-more\/\">\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\/23\/your-next-mobile-phone-is-going-to-cost-more\/&title=Your next mobile phone is going to cost more\">\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=Your+next+mobile+phone+is+going+to+cost+more+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F23%2Fyour-next-mobile-phone-is-going-to-cost-more%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\/23\/your-next-mobile-phone-is-going-to-cost-more\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555673\" class=\"content-area-description single-story post-555673 post type-post status-publish format-standard hentry category-customs tag-customs tag-customs-authority tag-enterpriseam tag-technology tag-trade wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-02\" class=\"content-anchor\"><\/a> <strong>New tariffs mean more expensive phones:<\/strong> All imported mobile phones will now be subject to a 10% import tariff, according to a presidential decree published in <a href=\"https:\/\/ent.news\/2021\/11\/%D8%A7%D9%84%D8%B9%D8%AF%D8%AF-46-%D9%85%D9%83%D8%B1%D8%B1-%D9%85%D8%A4%D9%85%D9%86-5-6-1.pdf\">the Official Gazette (pdf)<\/a>. The new tariff is double the 5% import fee originally imposed by the National Telecommunications Regulatory Authority <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5cbf1ae6-960e-406c-b74a-8e037d234e2d\">last year<\/a> and essentially applies to all phones sold in Egypt except for those assembled by local electronics outfit Sico.<\/p>\n<p><strong>Retailers will pass on the cost to consumers:<\/strong> Phone prices could rise 10-14% on the back of the new tariffs, the head of an industry trade body told <a href=\"https:\/\/bit.ly\/3nJqvMp\">Al Mal<\/a>. Issam Badr El Din, director of the mobile traders\u2019 syndicate, told the newspaper that there had been \u201cconfusion\u201d between retailers and distributors following the customs hike and that the price hikes will weigh on consumer demand.<\/p>\n<p><strong>Other import fees included in the decision:<\/strong> Solar panels will now be subject to a 5% import tariff, according to the decree. Imports of fully manufactured marble products are also getting a 20% tariff tacked on (up from 2% previously), while tariffs on raw marble will remain unchanged at 2%, a Customs Authority source who wished to remain unnamed confirmed to Enterprise.<\/p>\n<p><em>EDITOR'S NOTE- Corrected on 4 January, 2022<\/em><\/p>\n<p><em>A previous version of this story incorrectly said that solar panels will be subject to a 10% import tariff<\/em><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/customs\/\">customs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/customs-authority\/\">Customs Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/technology\/\">technology<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555674\" 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=\"555674\">\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\">Basic materials<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/slightly-less-cement-oversupply\/\">\r\n                            Slightly less cement oversupply                        <\/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\/23\/slightly-less-cement-oversupply\/\" 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\/23\/slightly-less-cement-oversupply\/')\">\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\/23\/slightly-less-cement-oversupply\/\">\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=Slightly less cement oversupply&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/slightly-less-cement-oversupply\/\">\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\/23\/slightly-less-cement-oversupply\/&title=Slightly less cement oversupply\">\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=Slightly+less+cement+oversupply+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F23%2Fslightly-less-cement-oversupply%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\/23\/slightly-less-cement-oversupply\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/558.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"555675\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/slightly-less-cement-oversupply\/558-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/558.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"558.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/558.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/558.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555674\" class=\"content-area-description single-story post-555674 post type-post status-publish format-standard has-post-thumbnail hentry category-basic-materials tag-basic-materials tag-cement tag-coal tag-enterpriseam tag-lafarge-egypt tag-public-enterprises-ministry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Local cement production is on course to easily outstrip demand in 2021<\/strong> despite <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9d280cef-6284-40c5-853b-a30bfae11f73\">production cuts<\/a> being introduced in July to ease the years-long supply glut. But Lafarge Egypt says there are signs market demand is starting to recover, with CEO Solomon Baumgartner-Aviles now projecting a 7% rise in sales this year to 48 mn tonnes,according to <a href=\"https:\/\/alborsaanews.com\/2021\/11\/22\/1483783\">Al Borsa<\/a>. But sales will continue to be outweighed by production, which according to Baumgartner-Aviles sits at around 82.5 mn tonnes.<\/p>\n<p><strong>Producers have been flooding the market with cement for years<\/strong>, with annual production surging to 85-87 mn tonnes in the past three years, far surpassing market demand. A new state-owned plant in Beni Suef only made matters worse, adding 13 mn tonnes of capacity to the market every year since its launch in 2018.<\/p>\n<p><strong>Supply cuts were introduced in July to ease the glut:<\/strong> In place for a year, the quotas compel market players to cut production by at least 10.7%, while additional cuts of 2.81% per production line can also be made. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dce8e2fd-6a12-472b-bab6-fc72d9848ad3\">Industry executives have previously said<\/a> that cement producers could be asked to cut production by at least 10%, as part of a proposal put forward by the Egyptian government to reduce the supply glut that is crippling the industry.<\/p>\n<p><strong>Lafarge wants to leave coal behind: <\/strong>The company is looking to reach an agreement with the government to start relying on natural gas instead of coal, which would allow companies to cut their emissions in half, the CEO said.<\/p>\n<p><strong>A <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/db4b2ffa-dedc-48bf-ac2a-b7a39af53bf0\">surge in global coal prices<\/a><\/strong><strong> this year has put further pressure on the margins of cement companies<\/strong>, most of which rely on coal to power their facilities.<\/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\/basic-materials\/\">basic materials<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cement\/\">cement<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/coal\/\">coal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lafarge-egypt\/\">LaFarge Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/public-enterprises-ministry\/\">Public Enterprises Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555676\" 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=\"555676\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/govt-working-on-national-hydrogen-strategy-shaker\/\">\r\n                            Gov\u2019t working on national hydrogen strategy -Shaker                        <\/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\/23\/govt-working-on-national-hydrogen-strategy-shaker\/\" 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\/23\/govt-working-on-national-hydrogen-strategy-shaker\/')\">\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\/23\/govt-working-on-national-hydrogen-strategy-shaker\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Gov\u2019t working on national hydrogen strategy -Shaker&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/govt-working-on-national-hydrogen-strategy-shaker\/\">\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\/23\/govt-working-on-national-hydrogen-strategy-shaker\/&title=Gov\u2019t working on national hydrogen strategy -Shaker\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Gov%E2%80%99t+working+on+national+hydrogen+strategy+-Shaker+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F23%2Fgovt-working-on-national-hydrogen-strategy-shaker%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\/23\/govt-working-on-national-hydrogen-strategy-shaker\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/559.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"555677\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/govt-working-on-national-hydrogen-strategy-shaker\/559-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/559.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"559.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/559.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/559.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555676\" class=\"content-area-description single-story post-555676 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-electricity-ministry tag-energy tag-enterpriseam tag-green-hydrogen tag-investment-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>A national hydrogen strategy is in the works:<\/strong> The government is currently contracting with a global consulting office to develop a national hydrogen strategy, Electricity Minister Mohamed Shaker told CNBC Arabia (<a href=\"https:\/\/bit.ly\/3oUQEXE\">watch, runtime: 2:57<\/a>). He added that we could be seeing a hydrogen project up and running by October 2022, without disclosing the name of the company behind its implementation.<\/p>\n<p><strong>A number of big players are eyeing Egypt\u2019s hydrogen market: <\/strong>Eni, General Electric and ThyssenKrupp have <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/aff3aab7-2de8-4461-ba56-0bcf3f15bf45\">reportedly submitted bids<\/a> worth a collective USD 2 bn to establish hydrogen plants in Egypt that would produce both green and blue forms of hydrogen.<\/p>\n<p><strong>Policymakers in Egypt have been taking green hydrogen increasingly seriously over the past 12 months<\/strong>, holding talks with a number of international firms about establishing a local industry that has the potential to grow into a key part of the country\u2019s energy mix. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3a852c99-ab78-4c24-8597-145fae51ea0b\">Siemens is already on board<\/a> to set up a pilot green hydrogen production plant, while Norwegian renewable energy company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d7f65631-b26f-45aa-a4de-a2daadb77981\">Scatec announced<\/a> last month that it will build a 50-100 MW green hydrogen facility in Ain Sokhna, in partnership with Nassef Sawiris-backed ammonia producer Fertiglobe and the Sovereign Fund of Egypt. Eni is working with state gas company Egas to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/06039efd-b70c-4377-9424-7db2c0f2cb09\">produce feasibility studies<\/a> for manufacturing blue and green hydrogen.<\/p>\n<p><strong>Energy firms have been pushing hydrogen<\/strong> as a greener alternative to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/197de7d3-9da4-49ad-9fbf-6aeda85c7f67\">traditional fossil fuels<\/a> \u2014 in what some say is a tactic meant to delay the inevitable death of carbon-emitting energy sources.<\/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\/electricity-ministry\/\">Electricity Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555678\" 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=\"555678\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/fintech-startup-hollydesk-raises-usd-325k-in-pre-seed-funding\/\">\r\n                            Fintech startup HollyDesk raises USD 325k in pre-seed funding                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/fintech-startup-hollydesk-raises-usd-325k-in-pre-seed-funding\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/fintech-startup-hollydesk-raises-usd-325k-in-pre-seed-funding\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/fintech-startup-hollydesk-raises-usd-325k-in-pre-seed-funding\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Fintech startup HollyDesk raises USD 325k in pre-seed funding&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/fintech-startup-hollydesk-raises-usd-325k-in-pre-seed-funding\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/fintech-startup-hollydesk-raises-usd-325k-in-pre-seed-funding\/&title=Fintech startup HollyDesk raises USD 325k in pre-seed funding\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Fintech+startup+HollyDesk+raises+USD+325k+in+pre-seed+funding+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F23%2Ffintech-startup-hollydesk-raises-usd-325k-in-pre-seed-funding%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/fintech-startup-hollydesk-raises-usd-325k-in-pre-seed-funding\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/560.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"555679\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/fintech-startup-hollydesk-raises-usd-325k-in-pre-seed-funding\/560-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/560.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"560.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/560.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/560.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555678\" class=\"content-area-description single-story post-555678 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam tag-fintech tag-hollydesk tag-startup-watch tag-startups wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Homegrown fintech startup <\/strong><strong><a href=\"https:\/\/www.hollydesk.com\/\">HollyDesk<\/a><\/strong><strong> raised USD 325k in pre-seed funding<\/strong> in a round led by angel investor Faisal Abdel Salam, reports <a href=\"https:\/\/bit.ly\/3l18yHn\">Hapi Journal<\/a>. The company has been looking to close the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a295e685-edf5-4465-8cc0-574714fb1c63\">six-figure USD funding round<\/a> since July, and will use the money to develop the team\u2019s technical capabilities, grow the team and its product offering, and expand elsewhere in the region.<\/p>\n<p><strong>About the company:<\/strong> <a href=\"https:\/\/www.hollydesk.com\/\">HollyDesk<\/a> provides a SaaS tool that offers companies real-time expense tracking and management of receivables and payables through a dashboard to manage their finances. Earlier this year, it teamed up with our friends at CIB to provide rapid collection of funds for employees and company-verified parties through electronic wallets.<\/p>\n<p><strong>ALSO FROM STARTUPLAND- Three Egyptian startups were <\/strong><strong><a href=\"https:\/\/disrupt-africa.com\/2021\/11\/22\/3-egyptian-startups-join-techstars-riyadh-accelerator\/\">chosen<\/a><\/strong><strong> to join <\/strong><strong><a href=\"https:\/\/www.techstars.com\/accelerators\/riyadh\">Techstars Riyadh<\/a><\/strong><strong> accelerator:<\/strong> <a href=\"https:\/\/tegarti.com\/\">Tegarti<\/a>, a cloud-based point of sale and retail management platform, <a href=\"https:\/\/tegarti.com\/\">Glamera<\/a>, an app for booking beauty and health services, and <a href=\"https:\/\/untapcompete.com\/\">Untap<\/a>, an all-in-one software for planning, launching managing, and assessing online innovation and talent acquisition programs. The companies will receive an investment of USD 120k each, along with mentoring. Techstars Riyadh is run in partnership with Saudi Arabia\u2019s CIT Ministry and <a href=\"https:\/\/raed.vc\/\">Raed Ventures<\/a>. The 13-week program began earlier this month and will end in February 2022.<\/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\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hollydesk\/\">HollyDesk<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555680\" 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=\"555680\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/govt-finalizes-usd-2-bn-loan-from-intl-banking-syndicate\/\">\r\n                            Gov\u2019t finalizes USD 2 bn loan from int'l banking syndicate                        <\/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\/23\/govt-finalizes-usd-2-bn-loan-from-intl-banking-syndicate\/\" 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\/23\/govt-finalizes-usd-2-bn-loan-from-intl-banking-syndicate\/')\">\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\/23\/govt-finalizes-usd-2-bn-loan-from-intl-banking-syndicate\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Gov\u2019t finalizes USD 2 bn loan from int'l banking syndicate&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/govt-finalizes-usd-2-bn-loan-from-intl-banking-syndicate\/\">\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\/23\/govt-finalizes-usd-2-bn-loan-from-intl-banking-syndicate\/&title=Gov\u2019t finalizes USD 2 bn loan from int'l banking syndicate\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Gov%E2%80%99t+finalizes+USD+2+bn+loan+from+int%27l+banking+syndicate+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F23%2Fgovt-finalizes-usd-2-bn-loan-from-intl-banking-syndicate%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\/23\/govt-finalizes-usd-2-bn-loan-from-intl-banking-syndicate\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555680\" class=\"content-area-description single-story post-555680 post type-post status-publish format-standard hentry category-debt-watch tag-banking tag-debt tag-debt-watch tag-enterpriseam tag-finance-ministry tag-mohamed-maait wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The government\u2019s <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0100e981-2f90-4995-bc2f-6d8bc0dbc15f\">USD 2 bn syndicated bank loan<\/a><\/strong><strong> has been finalized and is<\/strong> <strong>awaiting approval in the House of Representatives<\/strong>, Finance Minister Mohamed Maait told CNBC Arabia (<a href=\"https:\/\/bit.ly\/3CJR9bY\">watch, runtime: 00:45<\/a>), confirming earlier press reports of ongoing talks with 10 international banks. The facility will reportedly be divided into a USD 1 bn Islamic financing tranche and a USD 1 bn ESG tranche set to target green projects under the Finance Ministry\u2019s green financing framework, local media said last week.<\/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\/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\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance-ministry\/\">Finance Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-maait\/\">Mohamed Maait<\/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=\"555681\" 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=\"555681\">\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\">Development finance<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/women-led-smes-to-get-usd-5-mn-in-ebrd-funding\/\">\r\n                            Women-led SMEs to get USD 5 mn in EBRD funding                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/women-led-smes-to-get-usd-5-mn-in-ebrd-funding\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/women-led-smes-to-get-usd-5-mn-in-ebrd-funding\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/women-led-smes-to-get-usd-5-mn-in-ebrd-funding\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Women-led SMEs to get USD 5 mn in EBRD funding&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/women-led-smes-to-get-usd-5-mn-in-ebrd-funding\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/women-led-smes-to-get-usd-5-mn-in-ebrd-funding\/&title=Women-led SMEs to get USD 5 mn in EBRD funding\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Women-led+SMEs+to+get+USD+5+mn+in+EBRD+funding+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F23%2Fwomen-led-smes-to-get-usd-5-mn-in-ebrd-funding%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/women-led-smes-to-get-usd-5-mn-in-ebrd-funding\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/561.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"555682\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/women-led-smes-to-get-usd-5-mn-in-ebrd-funding\/561-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/561.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"561.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/561.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/561.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555681\" class=\"content-area-description single-story post-555681 post type-post status-publish format-standard has-post-thumbnail hentry category-development-finance tag-debt-watch tag-development-finance tag-ebrd tag-enterpriseam tag-export-development-bank-of-egypt tag-gender tag-reefy tag-smes wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>EBE receives up to USD 5 mn from EBRD to support Egyptian women-led SMEs: <\/strong>The Export Development Bank of Egypt (EBE) has secured a loan of up to USD 5 mn from the European Bank for Reconstruction and Development (EBRD) to on-lend to women-run SMEs in Egypt, according to <a href=\"https:\/\/www.ebrd.com\/work-with-us\/projects\/psd\/52550.html\">the EBRD\u2019s website<\/a>. The loan aims to expand access to funding for female entrepreneurs and increase women\u2019s participation in the economy.<\/p>\n<p><strong>The loan comes under the EBRD\u2019s Women in Business program<\/strong> which provides both financial and technical assistance. The program also saw CI Capital\u2019s microfinance arm Reefy <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/36036f48-aa17-4d52-9868-f55bc0920b8e\">receive EGP 80 mn<\/a> in development finance last month. The Reefy initiative aims to address the financing gap for <a href=\"https:\/\/www.ebrd.com\/work-with-us\/projects\/psd\/52538.html\">women in rural areas<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development-finance\/\">development finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ebrd\/\">EBRD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/export-development-bank-of-egypt\/\">Export Development Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gender\/\">gender<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/reefy\/\">Reefy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smes\/\">SMEs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555683\" 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=\"555683\">\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\">Education<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/hayah-international-academy-is-coming-to-west-cairo\/\">\r\n                            Hayah International Academy is coming to West Cairo                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/hayah-international-academy-is-coming-to-west-cairo\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/hayah-international-academy-is-coming-to-west-cairo\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/hayah-international-academy-is-coming-to-west-cairo\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Hayah International Academy is coming to West Cairo&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/hayah-international-academy-is-coming-to-west-cairo\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/hayah-international-academy-is-coming-to-west-cairo\/&title=Hayah International Academy is coming to West Cairo\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Hayah+International+Academy+is+coming+to+West+Cairo+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F23%2Fhayah-international-academy-is-coming-to-west-cairo%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/hayah-international-academy-is-coming-to-west-cairo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/563.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"555684\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/hayah-international-academy-is-coming-to-west-cairo\/563-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/563.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"563.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/563.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/563.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555683\" class=\"content-area-description single-story post-555683 post type-post status-publish format-standard has-post-thumbnail hentry category-education tag-education tag-egypt-education-platform tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>H<\/strong><strong>ayah International Academy is coming to West Cairo<\/strong> as it looks to open its Sheikh Zayed campus Hayah West in September 2022 and will start student admissions for the 2022-23 academic year next month, according to <a href=\"https:\/\/ent.news\/2021\/11\/Hayah-West-PR-V5_Nov22-FV.pdf\">a statement (pdf)<\/a> out yesterday.<\/p>\n<p><strong>Hayah is part of the Egypt Education Fund<\/strong>, an education investment platform backed by GEMS, EFG Hermes, and the Sovereign Fund of Egypt. Established in 2003, Hayah is an IB school and joined the fund in June this year. EEP has several educational brands under its umbrella with two more to be launched soon. This includes GEMS International Schools, Prime National Schools and Hayah Schools. Over the summer EEP <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3b062b7f-ecf4-4a6f-b663-000622bd7564\">added Alexandria\u2019s AIA International School to its portfolio<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/187c9bd4-1d77-4a88-ba9e-ca49c3fcec3f\">signed an MoU<\/a> with Abu Soma Development (ASD) to develop and operate a school in Soma Bay under the GEMS International Schools brand.<\/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\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-education-platform\/\">Egypt Education Platform<\/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=\"555685\" 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=\"555685\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/555685\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555685\" class=\"content-area-description single-story post-555685 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=\"555686\" 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=\"555686\">\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\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/last-nights-talk-shows-on-alexandria-drowning\/\">\r\n                            Last Night\u2019s Talk Shows on Alexandria drowning                        <\/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\/23\/last-nights-talk-shows-on-alexandria-drowning\/\" 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\/23\/last-nights-talk-shows-on-alexandria-drowning\/')\">\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\/23\/last-nights-talk-shows-on-alexandria-drowning\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Last Night\u2019s Talk Shows on Alexandria drowning&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/last-nights-talk-shows-on-alexandria-drowning\/\">\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\/23\/last-nights-talk-shows-on-alexandria-drowning\/&title=Last Night\u2019s Talk Shows on Alexandria drowning\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Last+Night%E2%80%99s+Talk+Shows+on+Alexandria+drowning+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F23%2Flast-nights-talk-shows-on-alexandria-drowning%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\/23\/last-nights-talk-shows-on-alexandria-drowning\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555686\" class=\"content-area-description single-story post-555686 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-climate-change tag-enterpriseam tag-last-nights-talk-shows wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Last night\u2019s talk shows were all about our favorite Mediterranean city drowning: <\/strong>Alexandria witnessed an unprecedented amount of rain yesterday, giving us some <a href=\"https:\/\/twitter.com\/alyhussinmahdy\/status\/1462807816071270404?s=21\">very concerning<\/a> and <a href=\"https:\/\/twitter.com\/noor25j\/status\/1462912453239529481?s=21\">amusing clips<\/a> of its streets overflowing with water and swallowing cars. Alexandria Governor Mohamed El Sherif said on Ala Mas\u2019ouleety that the city\u2019s streets are now dry and traffic has resumed (<a href=\"https:\/\/www.facebook.com\/AhmedMoussaEG\/videos\/7229669740392412\">watch, runtime: 6:41<\/a>).<\/p>\n<p><strong>Alexandria has given all non-essential <\/strong><strong>state employees<\/strong> <strong><a href=\"https:\/\/www.facebook.com\/Alex.Gov.Eg\/posts\/262936355859088?__cft__[0]=AZVDfVps4RExwp47B3e-N-5fssdeMmuICv5effWWJvDLPjGbZ3Q3g00ACuHBdRXeQ6e-MP7tIjDIDAyq86Vc9DohouUJmG1XYZbubASUT_6aWDj0zMp6sH7Lnd3GsCLvllBJTR4GWfHpKDGug_9gZjSLlOY-ggHRnc00uMcs2Rmlyg&__tn__=%2CO%2CP-R\">the day off<\/a><\/strong><strong> and shut down schools today<\/strong>, not because it\u2019s expecting more showers, but in order for the authorities to easily drain the remaining water from the streets without having the usual volumes of traffic on the roads. Kelma Akhira (<a href=\"https:\/\/www.youtube.com\/watch?v=V70zKfhWtYk\">watch, runtime: 2:59<\/a>) and Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=XNe1V7FEQvI\">watch, runtime: 1:40<\/a>) also covered the weather.<\/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\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555687\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px 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   <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/human-rights-is-getting-attention-in-the-foreign-press\/\">\r\n                            Human rights is getting attention in the foreign press                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div 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\/23\/human-rights-is-getting-attention-in-the-foreign-press\/\" target=\"_blank\">\n      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class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Human+rights+is+getting+attention+in+the+foreign+press+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F23%2Fhuman-rights-is-getting-attention-in-the-foreign-press%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\/23\/human-rights-is-getting-attention-in-the-foreign-press\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555688\" class=\"content-area-description single-story post-555688 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-ancient-egypt tag-enterpriseam tag-gaza tag-hossam-bahgat tag-human-rights tag-red-sea tag-ride-hailing tag-sports tag-transport tag-travel tag-undp wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Forty-five <\/strong><strong>local and international human rights organizations<\/strong> <a href=\"https:\/\/www.amnesty.org\/en\/latest\/press-release\/2021\/11\/egypt-end-harrassment-hossam-bahgat\/\">have called on<\/a> Egyptian authorities to end what they say is the harassment of executive director and founder of the Egyptian Initiative for Personal Rights (EIPR) Hossam Bahgat, who is on trial for allegedly insulting the Elections Authority. A verdict in the case is scheduled for November 29.<\/p>\n<p><strong>Also: <\/strong>Amnesty, the Cairo Institute for Human Rights Studies, and Human Rights Watch <a href=\"https:\/\/www.hrw.org\/news\/2021\/11\/22\/egypt-undp-report-whitewashes-human-rights-violations\">criticized<\/a> the UNDP\u2019s Egypt Human Development Report for ignoring human rights issues and called for it to be reassessed in <a href=\"https:\/\/www.hrw.org\/sites\/default\/files\/media_2021\/11\/gl.2021.11.01.Letter%20to%20UNDP%20Regarding%20Report%20on%20Human%20Development%20in%20Egypt.pdf\">a letter (pdf)<\/a> to UNDP head Achim Steiner. And an opinion piece in <a href=\"https:\/\/www.washingtonpost.com\/opinions\/2021\/11\/22\/egypts-dictatorship-is-squandering-countrys-remaining-assets\/\">the Washington Post<\/a> by Ezzedine C. Fishere criticizes last week\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dd06a68e-2a68-4615-9c90-836a2008f2fa\">sentencing of former member of parliament Zyad El Elaimy<\/a> to five years in jail.<\/p>\n<p><strong>MEANWHILE- Egypt was named the world\u2019s second-best scuba diving destination <\/strong>by <a href=\"http:\/\/divemagazine.co.uk\/travel\/9549-winners-dive-travel-awards-2021\">Dive<\/a><a href=\"http:\/\/divemagazine.co.uk\/travel\/9549-winners-dive-travel-awards-2021\">Travel<\/a> for the third consecutive year, singling out Sharm El Sheikh, Hurghada, Dahab and Marsa Alam. Indonesia topped the list and Malaysia, Maldives and Mexico rounded out the top 5.<\/p>\n<p><strong>Also making headlines: <\/strong><\/p>\n<ul>\n<li><strong>Egypt\u2019s efforts to rebuild the Gaza Strip<\/strong> got ink in the <a href=\"https:\/\/www.france24.com\/en\/live-news\/20211121-egypt-makes-gaza-comeback-with-post-war-reconstruction\">AFP<\/a>;<\/li>\n<li><strong>Egypt\u2019s first wheelchair-friendly transportation company<\/strong>, <a href=\"https:\/\/www.facebook.com\/RahtyEgypt\/\">Rahty<\/a>, got attention in a short video by Reuters (<a href=\"https:\/\/sg.news.yahoo.com\/disabled-egyptian-offers-solution-getting-171508929.html\">watch, runtime: 1:38<\/a>).<\/li>\n<li><strong>Another day, another archaeological find:<\/strong> German and Egyptian archaeologists discovered remains of a temple belonging to King Nectanebo I at Matareya in Heliopolis. (<a href=\"https:\/\/www.al-monitor.com\/originals\/2021\/11\/new-secrets-revealed-discovery-heliopolis-egypts-most-ancient-capital\">Al Monitor<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ancient-egypt\/\">Ancient Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hossam-bahgat\/\">Hossam Bahgat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/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                            <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\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/travel\/\">travel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/undp\/\">UNDP<\/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=\"555689\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555690\" 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=\"555690\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/everything-you-need-to-know-about-covid-on-23-november-2021\/\">\r\n                            Everything you need to know about covid on 23 November 2021                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/everything-you-need-to-know-about-covid-on-23-november-2021\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/everything-you-need-to-know-about-covid-on-23-november-2021\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/everything-you-need-to-know-about-covid-on-23-november-2021\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Everything you need to know about covid on 23 November 2021&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/everything-you-need-to-know-about-covid-on-23-november-2021\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/everything-you-need-to-know-about-covid-on-23-november-2021\/&title=Everything you need to know about covid on 23 November 2021\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Everything+you+need+to+know+about+covid+on+23+November+2021+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F23%2Feverything-you-need-to-know-about-covid-on-23-november-2021%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/everything-you-need-to-know-about-covid-on-23-november-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555690\" class=\"content-area-description single-story post-555690 post type-post status-publish format-standard hentry category-covid-watch tag-covid-19 tag-enterpriseam tag-pfizer tag-vaccines wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/211427667835122\">reported<\/a><\/strong><strong> 870 new<\/strong><strong> covid-19 infections yesterday<\/strong>, down from 884 the day before. Egypt has now disclosed a total of 351,267 confirmed cases of covid-19. The ministry also reported 58 new deaths, bringing the country\u2019s total death toll to 19,991.<\/p>\n<p><strong>Pfizer-BioNTech vaccine effective for at least four months in 12-15 year-olds:<\/strong> Phase 3 trials conducted by Pfizer and BioNTech have shown that their mRNA covid jab remains 100% effective against the virus for up to four months in children aged 12-15 years-old, the companies said in <a href=\"https:\/\/www.pfizer.com\/news\/press-release\/press-release-detail\/follow-data-phase-3-trial-pfizer-biontech-covid-19-vaccine\">a statement<\/a>. The trials, which involved some 2.3k participants, didn\u2019t reveal any serious safety concerns six months post-second dose, they said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pfizer\/\">Pfizer<\/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=\"555691\" 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=\"555691\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/dubais-ipo-pipeline-grows-as-shuaa-plots-x2-listings-in-early-2022\/\">\r\n                            Dubai\u2019s IPO pipeline grows as Shuaa plots x2 listings in early 2022                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/dubais-ipo-pipeline-grows-as-shuaa-plots-x2-listings-in-early-2022\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The financial group is in the process of hiring investment banks as bookrunners and is in talks with the bourse to list the companies, which have a combined value of USD 545 mn.<\/p><p><strong>The emirate has been playing catch-up on an IPO boom taking place in Abu <\/strong><strong>Dhabi and Riyadh:<\/strong> In recent weeks Acwa Power and Saudi Telecom have both gone public on the Tadawul, while Fertiglobe, Adnoc Drilling Company and Abu Dhabi Ports have all listed on the ADX. In response, Dubai is <a href=\"https:\/\/twitter.com\/DFMalerts\/status\/1460603418427355140\">offering new financial incentives<\/a> for companies to list on the DFM and announced plans to <a href=\"https:\/\/enterprise.press\/issues\/2021\/11\/03\/egypt-not-board-yesterdays-methane-deforestation-cop26-pledges\/\">IPO 10 state-owned firms<\/a>.<\/p><p><strong>Cross-border lending into EU countries is about to become a lot more difficult, <\/strong>as Brussels plans to crack down on licensing arrangements that allow banks outside of the EU to sell services into the bloc, reports <a href=\"https:\/\/www.ft.com\/content\/4ed93bac-0488-4105-8aec-47ef08198aae\">the Financial Times<\/a>. The new measures would limit all cross-border activity to \u201creverse solicitation,\u201d meaning that banks will have to wait for an EU client to approach them \u2014 without any marketing from the institution \u2014 before offering their services. The proposal comes as part of the European Commission\u2019s capital requirements directive, which aims to streamline how global banks operate in the EU and remove discrepancies in what different national regulators in the bloc allow.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>11,359<\/p>\n<\/td>\n<td>\n<p>+0.8% (YTD: +4.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-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>11,172<\/p>\n<\/td>\n<td>\n<p>-2.7% (YTD: +28.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>8,345<\/p>\n<\/td>\n<td>\n<p>+0.1% (YTD: +65.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,172<\/p>\n<\/td>\n<td>\n<p>-2.6% (YTD: +27.3%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,683<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: +24.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,270<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: +11.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 79.70<\/p>\n<\/td>\n<td>\n<p>+1.0%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 4.81<\/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>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,811<\/p>\n<\/td>\n<td>\n<p>+0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 56,300<\/p>\n<\/td>\n<td>\n<p>-5.4% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 rose 0.8% at yesterday\u2019s close<\/strong> on turnover of EGP 764 mn (47.4% below the 90-day average). Regional investors were net buyers. The index is up 4.7% YTD.<\/p><p><strong>In the green: <\/strong>Rameda (+6.8%), EFG Hermes (+5.9%) and Pioneers Properties (+3.5%).<\/p><p><strong>In the red: <\/strong>Fawry (-1.7%), Egypt Kuwait Holding-EGP (-0.8%) and Oriental Weavers (-0.6%).<\/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\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dubai\/\">Dubai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/regulation\/\">regulation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/shuaa-capital\/\">Shuaa Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"555692\" 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=\"555692\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/gaza-to-receive-egyptian-fuel-under-agreement-with-qatar\/\">\r\n                            Gaza to receive Egyptian fuel under agreement with Qatar                        <\/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\/23\/gaza-to-receive-egyptian-fuel-under-agreement-with-qatar\/\" 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\/23\/gaza-to-receive-egyptian-fuel-under-agreement-with-qatar\/')\">\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\/23\/gaza-to-receive-egyptian-fuel-under-agreement-with-qatar\/\">\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=Gaza to receive Egyptian fuel under agreement with Qatar&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/gaza-to-receive-egyptian-fuel-under-agreement-with-qatar\/\">\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\/23\/gaza-to-receive-egyptian-fuel-under-agreement-with-qatar\/&title=Gaza to receive Egyptian fuel under agreement with Qatar\">\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=Gaza+to+receive+Egyptian+fuel+under+agreement+with+Qatar+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F23%2Fgaza-to-receive-egyptian-fuel-under-agreement-with-qatar%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\/23\/gaza-to-receive-egyptian-fuel-under-agreement-with-qatar\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555692\" class=\"content-area-description single-story post-555692 post type-post status-publish format-standard hentry category-diplomacy tag-diplomacy tag-enterpriseam tag-france tag-gaza tag-hamas tag-libya tag-national-security tag-politics tag-qatar wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Gaza will start receiving USD 7-10 mn worth of Egyptian fuel paid for by Qatar<\/strong> under a plan to help the financially-stricken enclave pay salaries of civil servants, a Hamas official <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/hamas-official-says-qatar-enables-fuel-to-cash-scheme-gaza-civil-servants-2021-11-22\/\">told Reuters<\/a>. Under a Hamas-Qatar agreement, the fuel will be delivered to Hamas via the Egyptian border crossing, who would then sell it to petrol stations in the strip and use the money to pay the salaries of civil servants, including teachers and doctors. Qatar said last week that it had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c9a1cd36-e5a3-4b84-8559-ebca1bf1f169\">signed an agreement<\/a> with Egypt to work together to provide the Gaza Strip with fuel and basic building materials, but didn\u2019t provide details.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/france\/\">France<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gaza\/\">Gaza<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hamas\/\">Hamas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/libya\/\">Libya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-security\/\">national security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qatar\/\">Qatar<\/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=\"555693\" 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=\"555693\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">15<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/more-action-needed-to-unlock-frozen-aid-us-tells-sudans-military-leader\/\">\r\n                            More action needed to unlock frozen aid, US tells Sudan\u2019s military leader                        <\/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\/23\/more-action-needed-to-unlock-frozen-aid-us-tells-sudans-military-leader\/\" 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\/23\/more-action-needed-to-unlock-frozen-aid-us-tells-sudans-military-leader\/')\">\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\/23\/more-action-needed-to-unlock-frozen-aid-us-tells-sudans-military-leader\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=More action needed to unlock frozen aid, US tells Sudan\u2019s military leader&url=https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/more-action-needed-to-unlock-frozen-aid-us-tells-sudans-military-leader\/\">\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\/23\/more-action-needed-to-unlock-frozen-aid-us-tells-sudans-military-leader\/&title=More action needed to unlock frozen aid, US tells Sudan\u2019s military leader\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=More+action+needed+to+unlock+frozen+aid%2C+US+tells+Sudan%E2%80%99s+military+leader+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F11%2F23%2Fmore-action-needed-to-unlock-frozen-aid-us-tells-sudans-military-leader%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\/23\/more-action-needed-to-unlock-frozen-aid-us-tells-sudans-military-leader\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555693\" class=\"content-area-description single-story post-555693 post type-post status-publish format-standard hentry category-around-the-world tag-abdel-fattah-al-burhan tag-around-the-world tag-benjamin-netanyahu tag-enterpriseam tag-ethiopia tag-israel tag-politics tag-sudan wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Sudan\u2019s military leadership will need to do more if it is to unlock frozen US aid<\/strong>, US Secretary of State Antony Blinken <a href=\"https:\/\/www.state.gov\/secretary-blinkens-call-with-sudanese-prime-minister-hamdok-and-sovereign-council-chair-general-burhan\/\">told the country\u2019s leaders yesterday<\/a>, a day after military leader Abdel Fattah Al Burhan agreed to reinstate Abdalla Hamdok as the country\u2019s prime minister and form a technocratic government. In separate calls to Al Burhan and Hamdok yesterday, Blinken urged them to \u201cwork rapidly to put Sudan\u2019s democratic transition back\u201d by releasing all political detainees and lifting the state of emergency. The US <a href=\"https:\/\/apnews.com\/article\/middle-east-africa-sudan-khartoum-96e7b33b6e1045fce01189e81b36814a\">suspended USD 700 mn in aid<\/a> to Sudan last month after Al Burhan led a military takeover, imprisoning Hamdok and other civilian ministers in the transitional government.<\/p>\n<p><strong>Israel and Jordan have agreed to partner in a water-for-energy agreement<\/strong>, <a href=\"https:\/\/www.reuters.com\/business\/energy\/israel-jordan-partner-water-for-energy-deal-israeli-ministry-says-2021-11-22\/\">Reuters<\/a> reports. The agreement, the first of its kind between the two countries, was brokered by the UAE and would see Jordan build 600 MW of solar-generating capacity and export the energy to Israel. In return Tel Aviv would provide water-scarce Jordan with 200 mn cubic metres of desalinated water.<\/p>\n<p><strong>Israel is also reportedly in talks with Egypt for a similar agreement:<\/strong> The head of the Israeli prime minister\u2019s office <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5839e11c-b641-47ea-ae7d-4d378e4fd271\">told Bloomberg last week<\/a> that the two countries were having discussions about establishing Israeli solar plants in Egypt, but provided little details about what is on the table.<\/p>\n<p>Also worth knowing this morning:<\/p>\n<ul>\n<li><strong>Oil companies think Libya could be looking more stable as they eye <\/strong><strong>USD bn <\/strong><strong>investments: <\/strong>TotalEnergies will invest USD 2 bn in Libya\u2019s Waha oil project, while Eni will begin working on oil, natural-gas and solar projects ahead of the country\u2019s presidential elections. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-11-22\/total-eni-eye-billion-dollar-oil-gas-solar-projects-in-libya?srnd=premium-middle-east&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\/abdel-fattah-al-burhan\/\">Abdel Fattah Al Burhan<\/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\/benjamin-netanyahu\/\">Benjamin Netanyahu<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ethiopia\/\">Ethiopia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sudan\/\">Sudan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull vertical-section wide-section going-green wp-block-group issue-section\" id=\"555694\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27465.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep dive into the green economy and ESG issue in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27483.png?ssl=1\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Tuesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/goinggreen\/\">\r\n                            Read going Green                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">15<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/egypts-plans-to-locally-assemble-evs-are-moving-forward-without-dongfeng\/\">\r\n                            Egypt\u2019s plans to locally assemble EVs are moving forward without Dongfeng<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/egypts-plans-to-locally-assemble-evs-are-moving-forward-without-dongfeng\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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El Nasr has received over 13 proposals submitted by prospective partners since the talks with Dongfeng fell through and anticipates having a new partner by the end of the month, Managing Director Hany El Kholy tells Enterprise.<\/p>\n<p><strong>Why did the talks fall apart?<\/strong> El Nasr had signed an agreement with Dongfeng in January to locally assemble EVs in El Nasr\u2019s factory through one of the Chinese group\u2019s subsidiaries. Talks with Dongfeng to locally assemble its E70 electric vehicles came to a halt due to an import pricing dispute with the automaker, according to a Public Enterprises Ministry <a href=\"https:\/\/ent.news\/2021\/11\/EVs-PEM.pdf\">statement (pdf)<\/a> released <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f0f9e19-5e30-400f-8dba-6213afd8fb58\">earlier this month<\/a>.<\/p>\n<p><strong>The rising cost of imported materials was the most significant factor in the negotiation breakdown<\/strong>, says El Kholy. The CNY has strengthened maybe 3% in the past year, but the cost of transporting materials to Egypt from China is up 4x this year, El Kholy says.<\/p>\n<p><strong>Price hikes affect whether fairly-priced vehicles and a good service can be offered<\/strong>, says El Kholy. This kind of partnership should be based on a long-term agreement, with the risk and burden of material cost increases shared between partners, he adds. Otherwise, it would be impossible for El Nasr to sell the EVs at the price point they want to target or provide after-sales service of the quality they want, he adds.<\/p>\n<p><strong>But other issues \u2014 including payment terms and the knowledge transfer process \u2014 also determine partnership success or failure<\/strong>, El Kholy adds. Important details that need to be finalized in the contracts include the warranties for vehicles and spare parts. \u201cAll these things affect the end price and value of the service the consumer receives,\u201d he says.<\/p>\n<p><strong>So what happens now? The search for a new partner: <\/strong>El Nasr is actively looking for a new partner, El Kholy says. Since the collapse of Dongfeng negotiations, it\u2019s received over 13 proposals from other Chinese and European EV manufacturing companies, he says.<\/p>\n<p><strong>The breakdown in negotiations with Dongfeng will likely delay our EV plans \u2014 but not <\/strong><strong>significantly: <\/strong>The breakdown in negotiations between El Nasr and Dongfeng will likely only cause only a slight delay in the rollout of the project, Shams Abdel Ghaffar, managing director of Infinity EV, which is working with the government to install EV charging stations around the country. El Nasr had planned to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/87ee0a12-f801-4476-a5bf-775ddebde97c\">begin locally assembling the Dongfeng E70 vehicles<\/a> next year, and was aiming to have the first 100 ready by July-August 2022, a target which will now be pushed while the government finds a new partner.<\/p>\n<p><strong>On the bright side:<\/strong> \u201cThis could be a chance to bring a brand that\u2019s even stronger than Dongfeng to the Egyptian market,\u201d Ghaffar said. Certain other brands have more of a global presence than Dongfeng when it comes to EVs, he adds.<\/p>\n<p><strong>Slightly increased investment: <\/strong>Price hikes in importing materials are likely to drive a slight increase in El Nasr\u2019s investment in this EV project, El Kholy notes: \u201cWe were planning to invest EGP 2.7 bn and now it could go into the EGP 3 bn bracket in the coming period.\u201d<\/p>\n<p><strong>And more EV research: <\/strong>El Nasr won\u2019t be returning the 13 E70 electric vehicles that it imported in June from China and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/351b97a5-2950-492f-8fb5-9032138878a3\">began road-testing<\/a> in collaboration with Uber in August, says El Kholy. Its engineers and mechanics are being trained on how the EVs work, and taking one apart to better understand its inner workings, he adds. \u201cThese vehicles are ours. Now we\u2019re learning from them, and how being exposed to Egypt\u2019s environment affects them.\u201d<\/p>\n<p><strong>An El Nasr subsidiary is already moving forward with plans to manufacture EV microbuses domestically: <\/strong>The Engineering Automotive Manufacturing Company, an El Nasr subsidiary, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cf050293-8a9f-48d9-b6d6-64eb0b1b3a20\">last week<\/a> signed a cooperation agreement with private Egyptian tech firm BrightSkies for the two firms to manufacture key components for Egypt\u2019s first locally-assembled electric microbuses, according to a Public Enterprises Ministry <a href=\"https:\/\/ent.news\/2021\/11\/Public-Enterprise-Ministry-Brightskies-EV-Microbuses.pdf\">statement (pdf)<\/a>.<\/p>\n<p><strong>Meanwhile, we\u2019re waiting for EV charging tariffs \u2014 which have been <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/98376a00-6c83-4f90-bc5d-e71657dac022\">approved by cabinet<\/a><\/strong><strong> \u2014 to be officially announced by the Electricity Ministry<\/strong>, says Abdel Ghaffar. The tariffs have been set at 1.69 EGP\/kWh for public charging stations and 1.89 EGP\/kWh for charging stations within privately-owned establishments, says Abdel Ghaffar. The fast-charging tariff is set at 3.75 EGP\/kWh for public and private establishments. \u201cFor fast-charging, the CAPEX is very high, so the tariff has to be higher to make up for that,\u201d he adds. Infinity is waiting for the Electricity Ministry to officially announce the tariffs so it can launch its customer payment platform for EV charging.<\/p>\n<p><strong>These tariffs are due to be revised annually: <\/strong>The electricity and public enterprises ministries have promised to revise the tariffs on an annual basis, allowing stakeholders to assess their gains and whether they make sense financially for operators like Infinity, says Abdel Ghaffar. \u201cAt Infinity, we accepted this tariff to encourage people to make the change to EVs and for the electrification process to start.\u201d While the company doesn\u2019t feel the tariffs are all that lucrative, it\u2019s willing to see how well they work over the coming year, he says. \u201cIf they\u2019re insufficient, we were promised they\u2019d be reviewed.\u201d<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top climate stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Egypt and Israel are in talks to <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5839e11c-b641-47ea-ae7d-4d378e4fd271\">set up<\/a><\/strong> <strong>solar power plants in Egypt <\/strong>as part of Israel\u2019s strategy to reduce carbon emissions and boost its green tech sector.<\/li>\n<li><strong>Environmental issues topped the Prince of Wales\u2019 <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2a60cd06-4c69-41b2-8754-3c758cb0acc6\">agenda<\/a><\/strong><strong> during his visit to<\/strong><strong> Egypt last week<\/strong>, discussing Egypt\u2019s environmental initiatives and its selection as host of next year\u2019s COP27 climate conference with President Abdel Fattah El Sisi.<\/li>\n<li><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4ed7b3c1-2514-4f68-9b61-11486f0e348a\">Carbon capture<\/a><\/strong><strong> promises to be a hot topic at COP 27<\/strong>, with Egypt\u2019s first carbon capture initiative potentially coming in the form of a collaboration between Italian energy firm Eni and the Oil Ministry.<\/li>\n<li><strong>Cars and buses in Sharm El Sheikh and Hurghada will either be <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4ed7b3c1-2514-4f68-9b61-11486f0e348a\">converted<\/a><\/strong> <strong>to natural gas or swapped out for EVs <\/strong>by the time COP27 comes to Egypt next year.<\/li>\n<li><strong>Companies could <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a7e2276b-a682-44ae-9a2a-5dda1d7befe8\">lose tns of USD in stranded assets<\/a><\/strong><strong> in the green transition<\/strong>, as the shift away from fossil fuels threatens to make tns of corporate assets worthless due to emissions\u2019 reductions rules.<\/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\/brightskies\/\">Brightskies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dongfeng\/\">Dongfeng<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/el-nasr-automotive\/\">El Nasr Automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/engineering-automotive-manufacturing-company\/\">Engineering Automotive Manufacturing Company<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hany-el-kholy\/\">Hany El Kholy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infinity\/\">Infinity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/shams-abdel-ghaffar\/\">Shams Abdel Ghaffar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"555696\" 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\/23\/555696\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-555696\" class=\"content-area-description single-story post-555696 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>22-24 November (Monday-Wednesday): The Home Appliances and Table Show (<a href=\"http:\/\/hatsegypt.com\/\">HATS Egypt<\/a>) is taking place, organized by the Engineering Export Council of Egypt.<\/p>\n<p>23 November: 2021 Common Market for Eastern and Southern Africa (Comesa) summit in Sharm El Sheikh.<\/p>\n<p>23 November (Tuesday): Webinar on <a href=\"https:\/\/register.gotowebinar.com\/register\/1994227539316855563\">FinTech Future in Egypt<\/a>.<\/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>5 December (Sunday): Purchasing managers\u2019 index figures for November for Egypt, Saudi Arabia, and Qatar will be released.<\/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>10 December (Friday): Capmas will release November inflation figures.<\/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 December (Tuesday): Inquiry session for the <a href=\"https:\/\/alborsaanews.com\/2021\/11\/21\/1483299\">Industrial Development Authority<\/a>\u2019s licenses to manufacture steel products.<\/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): Target date for snackmaker Edita to wrap up due diligence on its acquisition of the Ole brand owner Egyptian Belgian Company.<\/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>1H2022: The World Economic Forum annual meeting, location TBD.<\/p>\n<p>1H2022:: e-Aswaaq\u2019s tourism platform will roll out its ticketing and online booking portal across Egypt.<\/p>\n<p>1H2022: e-Finance\u2019s digital healthcare service platform, eHealth, will launch its services.<\/p>\n<p>1Q2022: <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>1 January 2022: Capital gains tax comes into effect on the EGX for local investors.<\/p>\n<p>7 January 2022 (Friday): Coptic Christmas.<\/p>\n<p>10-13 January 2022 (Monday-Thursday): <a href=\"https:\/\/wyfegypt.com\/\">World Youth Forum<\/a>, Sharm El Sheikh.<\/p>\n<p>15 January (Saturday): Target date for the finalization of snackfood giant Edita\u2019s acquisition of the Egyptian Belgian Company, owner of the Ole brand.<\/p>\n<p>17-19 January 2022 (Monday-Wednesday): <a href=\"https:\/\/www.worldfutureenergysummit.com\/en-gb.html\">World Future Energy Summit<\/a>, Abu Dhabi.<\/p>\n<p>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>11-13 February (Friday-Sunday) FIBA Intercontinental Cup, Cairo.<\/p>\n<p>14-16 February 2022 (Monday-Wednesday): Egypt Petroleum Show, Egypt International Exhibition Center, New Cairo, Egypt.<\/p>\n<p>15 February 2022 (Tuesday): The Industrial Development Authority\u2019s deadline for <a href=\"https:\/\/alborsaanews.com\/2021\/11\/21\/1483299\">receiving offers<\/a> from companies for licenses to manufacture steel products.<\/p>\n<p>19 February 2022 (Saturday): Public universities begin the second term of the 2021-2022 academic year.<\/p>\n<p>March 2022: 4Q2021 earnings season.<\/p>\n<p>March 2022: 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>Late April - 15 May 2022: 1Q2022 earnings season<\/p>\n<p>May 2022: Investment in Logistics Conference, Cairo, Egypt.<\/p>\n<p>2 May 2022 (Monday): Eid El Fitr (TBC).<\/p>\n<p>16 June 2022 (Thursday): End of 2021-2022 academic year for public schools.<\/p>\n<p>27 June-3 July 2022 (Monday-Sunday): World University Squash Championships, New Giza.<\/p>\n<p>30 June 2022 (Thursday): June 30 Revolution Day, national holiday.<\/p>\n<p>2H2022: <a href=\"https:\/\/www.ief.org\/news\/egypt-to-host-8th-ief-igu-ministerial-gas-forum-in-2022\">IEF-IGU Ministerial Gas Forum<\/a>, Egypt. Date + location TBA.<\/p>\n<p>8 July 2022 (Friday): Arafat Day.<\/p>\n<p>9-13 July 2022 (Saturday-Wednesday): Eid Al Adha, national holiday.<\/p>\n<p>30 July 2022 (Saturday): Islamic New Year.<\/p>\n<p>Late July - 14 August 2022: 2Q2022 earnings season.<\/p>\n<p>6 October 2022 (Thursday): Armed Forces Day, national holiday.<\/p>\n<p>8 October 2022 (Saturday): Prophet Muhammad\u2019s birthday.<\/p>\n<p>18-20 October 2022 (Tuesday-Thursday): Mediterranean Offshore Conference, Alexandria, Egypt.<\/p>\n<p>Late October - 14 November 2022: 3Q2022 earnings season.<\/p>\n<p><strong>**Note to readers:<\/strong> Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish below between the actual holiday and its observance.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":555668,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-555667","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"f6eba2ec-84dd-46fc-be0e-925be520c9ff","teaser":"","photo_url":"https:\/\/ent.news\/2021\/11\/554.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>Aldar + ADQ\u2019s bid to acquire SODIC gets regulatory approval - 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\/aldar-adqs-bid-to-acquire-sodic-gets-regulatory-approval\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Aldar + ADQ\u2019s bid to acquire SODIC gets regulatory approval\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/aldar-adqs-bid-to-acquire-sodic-gets-regulatory-approval\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T01:00:03+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\/554.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\/aldar-adqs-bid-to-acquire-sodic-gets-regulatory-approval\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/aldar-adqs-bid-to-acquire-sodic-gets-regulatory-approval\/\",\"name\":\"Aldar + ADQ\u2019s bid to acquire SODIC gets regulatory approval - 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