{"id":556003,"date":"2021-10-06T03:54:17","date_gmt":"2021-10-06T03:54:17","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=556003"},"modified":"2025-12-16T01:07:42","modified_gmt":"2025-12-16T01:07:42","slug":"enterprise-jobs-and-business-confidence-are-up-but-the-the-pmi-is-at-a-four-month-low","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/enterprise-jobs-and-business-confidence-are-up-but-the-the-pmi-is-at-a-four-month-low\/","title":{"rendered":"Enterprise Jobs and business confidence are up, but the the PMI is at a four-month low"},"content":{"rendered":"<section id=\"556005\" 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=\"556005\">\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\/10\/06\/this-morning-windows-11-is-in-the-wild-cbe-orders-banks-to-improve-access-for-persons-with-disabilities\/\">\r\n                            THIS MORNING: Windows 11 is in the wild + CBE orders banks to improve access for persons with disabilities                        <\/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                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class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Good morning, wonderful people, and welcome to your final workday of the week. <\/strong>The nation is off tomorrow in observance of Armed Forces Day, which is formally today.<\/p><p><strong>Enjoy your last \u201cgood\u201d commute until the end-of-year slowdown: <\/strong>Public schools and universities are both back in session for fall term as of Saturday, meaning rush hour is about to become a bit more ugly.<\/p><p><strong>It\u2019s a fairly busy news day here at home<\/strong>, including the latest on the PMI (confidence is at a record level), progress on the Egypt-Saudi grid interconnection project, and the launch of the country\u2019s latest venture capital fund. On the covid front, there\u2019s the prospect that Egypt may soon be jabbing 12-year-olds. <strong>We have more on all of this below.<\/strong><\/p><p><strong>MEANWHILE- <\/strong><strong>Stay tuned for an imminent Mogamma announcement:<\/strong> The company chosen to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f302005a-4921-4dbb-8223-bea106883cf9\">redevelop the Mogamma building<\/a> in Tahrir will be announced within days, Sovereign Wealth Fund CEO Ayman Soliman told <a href=\"https:\/\/www.reuters.com\/article\/egypt-economy-sovereign-fund\/egypts-sovereign-wealth-fund-looks-to-kickstart-revamp-of-downtown-cairo-idUSL8N2QZ0Q4\">Reuters<\/a> on Monday. Planning Minister Hala El Said <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/93b0334c-09b1-4c2f-8410-fef370fdff6e\">previously said<\/a> that the announcement would be made before the end of September.<\/p><p><strong>SMART POLICY- <\/strong><strong>CBE instructs banks to improve access for people with disabilities: <\/strong>The Central Bank of Egypt has instructed banks to make their services more accessible to people with disabilities in <a href=\"https:\/\/ent.news\/2021\/10\/CBE-circular-access-for-people-with-disabilities.pdf\">a circular (pdf)<\/a> earlier this week. Among the list of requirements: banks will need to ensure that at least 10% of their branches and ATMs are physically accessible to everyone.<\/p><p><strong>THE BIG STORY ABROAD is still Facebook.<\/strong> US lawmakers accused the company of prioritizing growth of its business over user safety and urged regulators to step up their scrutiny of the social media giant as they listened keenly to former Facebook employee and whistleblower Frances Haugen. Haugen exposed Facebook\u2019s continued efforts to boost user engagement at any cost during a Senate Commerce subcommittee hearing, and said that Facebook operates \u201cin the shadows,\u201d hiding its research practices away from public eyes. \u201cThe company\u2019s leadership knows how to make Facebook and Instagram safer, but won\u2019t make the necessary changes because they have put their astronomical [income] before people,\u201d she said. Lawmakers on both sides of the political spectrum could finally be moved by Haugen\u2019s testimony to take action on a raft of long-idling legislation, including a bill banning data collection on under-13s. The story is all over the international press: <a href=\"https:\/\/www.reuters.com\/technology\/facebook-whistleblower-say-former-employer-an-urgent-threat-us-2021-10-05\/\">Reuters<\/a> | <a href=\"https:\/\/www.ft.com\/content\/e9e25ff3-639a-4cc1-bb81-dedf24d956e3\">Financial Times<\/a> | <a href=\"https:\/\/www.nytimes.com\/live\/2021\/10\/05\/technology\/facebook-whistleblower-frances-haugen\">NYT<\/a> | <a href=\"https:\/\/www.cnbc.com\/2021\/10\/05\/facebook-whistleblower-testifies-before-senate-committee.html\">CNBC<\/a>.<\/p><p><strong>** IN CASE YOU MISSED IT-<\/strong> Stories from yesterday\u2019s edition of <strong>EnterprisePM<\/strong>:<\/p><ul>\n<li><strong>Egypt voices support for embattled IMF head: <\/strong>Egypt is among 16 African countries to come out in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/424cd556-0bbc-48ae-a4bf-3bb842a3a046\">support of IMF head Kristalina Georgieva<\/a> ahead of her interview with the Fund\u2019s executive board regarding allegations of corruption during her time at the World Bank.<\/li>\n<li><strong>In 2022, it could be deja vu:<\/strong> The energy crisis currently gripping some parts of the world is unlikely to be a one-off as the transition into renewable energy destabilizes markets and fuels inflation, analysts tell Bloomberg.<\/li>\n<li><strong>Meet our analyst of the week: <\/strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d4d3a14e-cf3a-4f0b-af1d-ff9452ebb94c\">Alaa Tolba<\/a>, consumer sector head at CI Capital.<\/li>\n<\/ul><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>Windows 11 is here, but some say it disappoints: <\/strong>Microsoft announced yesterday that the update is now available for PC users whose machines can support it. The most distinguishing feature of the new operating system is a revamped version of the Start menu, which will be at the center of the taskbar in the new iteration. But some users have <a href=\"https:\/\/www.wsj.com\/articles\/microsoft-released-windows-11-but-should-you-upgrade-11633453762?mod=hp_lead_pos10\">lamented<\/a> the absence of some anticipated features, including Android-app support, third-party widgets and a universal mute control, and warn you\u2019re probably better off waiting for updates that will enable the operating system to run smoothly on PCs of various descriptions, rather that just the ultra-new Microsoft models it seems to be designed for. <strong>The Verge thinks it is \u201ca work in progress,\u201d <\/strong>in a piece headlined: <a href=\"https:\/\/www.theverge.com\/22708762\/microsoft-windows-11-review\">A familiar home that\u2019s still being renovated<\/a>.<\/p><p><strong>How can I get it?<\/strong> If your machine has gotten it, the download is available without charge under Settings &gt; Windows Update. Or follow <a href=\"https:\/\/www.microsoft.com\/en-us\/software-download\/windows11?ranMID=24542&amp;ranEAID=nOD\/rLJHOac&amp;ranSiteID=nOD_rLJHOac-mm.o.0KiZ9qUjwrT5ag0Zg&amp;epi=nOD_rLJHOac-mm.o.0KiZ9qUjwrT5ag0Zg&amp;irgwc=1&amp;OCID=AID2200057_aff_7593_1243925&amp;tduid=%28ir__3d26fxi6yckfqh6ss911j6p6022xrcgdoc6nhw6m00%29%287593%29%281243925%29%28nOD_rLJHOac-mm.o.0KiZ9qUjwrT5ag0Zg%29%28%29&amp;irclickid=_3d26fxi6yckfqh6ss911j6p6022xrcgdoc6nhw6m00\">these instructions on how to download it<\/a>.<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>Key dates for your diaries this month:<\/strong><\/p><ul>\n<li><strong>Inflation:<\/strong> Inflation figures for September will be released on Sunday, 10 October.<\/li>\n<li><strong>Interest rates: <\/strong>The Central Bank of Egypt will meet to review interest rates on Thursday, 28 October.<\/li>\n<\/ul><p><strong>The Cairo International Fair continues today<\/strong> at the Cairo International Conference Center, running through 8 October.<\/p><p><strong>A digital credit scoring webinar series will begin airing in mid-October.<\/strong> Organized by the Egyptian Banking Institute, the Financial Services Institute, and I-Score in partnership with GIZ Egypt, the line-up of sessions on the banking sector and banking regulations will be delivered online by Frankfurt School of Finance &amp; Management according to a <a href=\"https:\/\/ent.news\/2021\/10\/Digital-Credit-Scoring-Webinar-Series-Announcement-2.pdf\">press release (pdf)<\/a>. You can <a href=\"https:\/\/www.frankfurt-school.de\/home\/international-advisory-services\/Strengthening-MSME-Financing-After-COVID-19-Through-Digital-Credit\">tap\/click here<\/a> if you\u2019re interested.<\/p><p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/Web-view-01.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, urban development and as well as social infrastructure such as health and education.<\/p><p><strong>In today\u2019s issue: <\/strong>We take a deeper dive into the long-awaited Egypt-Saudi interconnection project, which kicked into gear yesterday after the government awarded contracts to an Orascom Construction-Hitachi constortrium. We examine the details of the project, its potential to boost electricity efficiency and promote energy exports, and how it could affect our electricity supply glut.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mogamma-el-tahrir\/\">Mogamma El Tahrir<\/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=\"556006\" 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=\"556006\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/556006\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556006\" class=\"content-area-description single-story post-556006 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\/9\/Enterprise-Visual-Somabay-Golf-26-sep-21-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556007\" 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=\"556007\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/jobs-and-business-confidence-are-up-but-the-the-pmi-is-at-a-four-month-low\/\">\r\n                            Jobs and business confidence are up, but the the PMI is at a four-month low                        <\/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\/10\/06\/jobs-and-business-confidence-are-up-but-the-the-pmi-is-at-a-four-month-low\/\" 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\/10\/06\/jobs-and-business-confidence-are-up-but-the-the-pmi-is-at-a-four-month-low\/')\">\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\/10\/06\/jobs-and-business-confidence-are-up-but-the-the-pmi-is-at-a-four-month-low\/\">\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=Jobs and business confidence are up, but the the PMI is at a four-month low&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/jobs-and-business-confidence-are-up-but-the-the-pmi-is-at-a-four-month-low\/\">\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\/10\/06\/jobs-and-business-confidence-are-up-but-the-the-pmi-is-at-a-four-month-low\/&title=Jobs and business confidence are up, but the the PMI is at a four-month low\">\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=Jobs+and+business+confidence+are+up%2C+but+the+the+PMI+is+at+a+four-month+low+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F06%2Fjobs-and-business-confidence-are-up-but-the-the-pmi-is-at-a-four-month-low%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\/10\/06\/jobs-and-business-confidence-are-up-but-the-the-pmi-is-at-a-four-month-low\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/81.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"556008\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/jobs-and-business-confidence-are-up-but-the-the-pmi-is-at-a-four-month-low\/81-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/81.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"81.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/81.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/81.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556007\" class=\"content-area-description single-story post-556007 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-economy tag-employment tag-enterpriseam tag-pmi tag-saudi-arabia 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>Private sector activity hits four-month low: <\/strong>Business activity in Egypt\u2019s non-oil private sector continued to contract for the tenth consecutive month in September, reaching a low not seen since May, according to the IHS Markit\u2019s <a href=\"https:\/\/ent.news\/2021\/10\/0eefbd391b034cb78a45689ec22f47b0.pdf\">Purchasing Managers\u2019 Index (<\/a><a href=\"https:\/\/ent.news\/2021\/10\/0eefbd391b034cb78a45689ec22f47b0.pdf\">pdf<\/a><a href=\"https:\/\/ent.news\/2021\/10\/0eefbd391b034cb78a45689ec22f47b0.pdf\">)<\/a>. The index dropped to 48.9 in September from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7c1827a5-4098-4159-bc8b-dd4fc46f00fe\">49.8 in August<\/a> \u2014 a four-month low from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3cc4a91d-d7ac-41d7-8942-10de49ba3d31\">48.6 in May<\/a>, all of which are below the 50 mark that separates contraction from expansion.<\/p>\n<p><strong>Output, demand fall:<\/strong> Output and new orders dropped due to weaker customer demand in September, after rising the month prior. September also marked the first time sales to foreign customers saw a significant drop since March.<\/p>\n<p><strong>It\u2019s hardly a disaster:<\/strong> \u201cWhile the latest PMI data pointed to non-oil output and new orders declining at the end of the third quarter, these reductions were only slight, while the two indices remained above their long-run averages for the fifth month in a row,\u201d said IHS Markit economist David Owen.<\/p>\n<p><strong>Confidence at record high:<\/strong> Despite the slip in output and demand, Egyptian non-oil private sector firms reported a record level of confidence in upcoming business activity, with about <strong>71% of respondents giving a positive forecast<\/strong>, indicating that firms are growing hopeful that the economy is the road to recover from the pandemic over the coming 12 months. \u201cThe rise coincided with a faster vaccination programme in Egypt and a further relaxation of travel measures that should aid tourism income in the fourth quarter,\u201d Owen said.<\/p>\n<p><strong>Employment rose for the third successive month<\/strong>, despite the rate of job creation remaining mild with companies failing to find staff replacements.<\/p>\n<p><strong>Supply chains continue to be an issue:<\/strong> \u201cWhile there was also further supply risk from lower inventory levels and raw material shortages, a record improvement in vendor performance suggests that firms may start to see procurement issues ease,\u201d Owen said.<\/p>\n<p><strong>Firms were faced with a significant hike in prices<\/strong>, with the prices of raw materials rising and a renewed increase in staff costs.<\/p>\n<p><strong>Poor PMI v strong economic growth shows the continued dominance of the public sector: <\/strong>The PMI figures don\u2019t reflect last year\u2019s 3% GDP growth and the 5% GDP growth <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/768b3a57-5345-493d-b0c5-090eda49e1ee\">forecasted this year<\/a> and that\u2019s largely due to Egypt\u2019s growth being driven by the government and public sector, Khatija Haque, Emirates Nbd, Chief Economist and Head of Research <a href=\"https:\/\/www.bloomberg.com\/news\/videos\/2021-10-05\/saudi-arabia-s-september-pmi-rises-to-58-6\">told Bloomberg<\/a>.<\/p>\n<p><strong>The PMI figures got attention from foreign press: <\/strong><a href=\"https:\/\/www.reuters.com\/world\/middle-east\/egypt-pmi-retreats-output-sales-contract-2021-10-05\/\">Reuters<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/videos\/2021-10-05\/saudi-arabia-s-september-pmi-rises-to-58-6\">Bloomberg<\/a>.<\/p>\n<p><strong>ELSEWHERE IN THE REGION- Saudi Arabia\u2019s <\/strong><strong><a href=\"https:\/\/ent.news\/2021\/10\/Saudi-Arabias-September-PMI.pdf\">PMI<\/a><\/strong><strong><a href=\"https:\/\/ent.news\/2021\/10\/Saudi-Arabias-September-PMI.pdf\">(pdf)<\/a><\/strong><strong> saw a 4.5 point gain in September<\/strong>, its largest gain since the index started collecting data 12 years ago. The index is now at 58.6 in September, up from 54.1 in August, the strongest improvement in non-oil operating conditions since August 2015.<\/p>\n<p><strong>Private sector activity in the UAE slowed slightly<\/strong>, recording a <a href=\"https:\/\/ent.news\/2021\/10\/UAE-PMI-English.pdf\">PMI<\/a><a href=\"https:\/\/ent.news\/2021\/10\/UAE-PMI-English.pdf\">(pdf)<\/a> reading of 53.3 in September down from 53.8 the month prior. Despite the drop, expectations improved for the first time in three months with firms expecting an increase in activity due to Dubai Expo 2020 and an easing of pandemic restrictions.<\/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\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/employment\/\">employment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/pmi\/\">PMI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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=\"556009\" 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=\"556009\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/sequence-ventures-launches-egp-500mn-egypt-deep-tech-fund\/\">\r\n                            Sequence Ventures\u2019 launches EGP 500mn Egypt Deep-Tech fund                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/sequence-ventures-launches-egp-500mn-egypt-deep-tech-fund\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/sequence-ventures-launches-egp-500mn-egypt-deep-tech-fund\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/sequence-ventures-launches-egp-500mn-egypt-deep-tech-fund\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Sequence Ventures\u2019 launches EGP 500mn Egypt Deep-Tech fund&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/sequence-ventures-launches-egp-500mn-egypt-deep-tech-fund\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/sequence-ventures-launches-egp-500mn-egypt-deep-tech-fund\/&title=Sequence Ventures\u2019 launches EGP 500mn Egypt Deep-Tech fund\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Sequence+Ventures%E2%80%99+launches+EGP+500mn+Egypt+Deep-Tech+fund+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F06%2Fsequence-ventures-launches-egp-500mn-egypt-deep-tech-fund%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/sequence-ventures-launches-egp-500mn-egypt-deep-tech-fund\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556009\" class=\"content-area-description single-story post-556009 post type-post status-publish format-standard hentry category-investment-watch tag-enterpriseam tag-entrepreneurship tag-investment-watch tag-sequence-ventures tag-startups tag-venture-capital wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Venture capital firm Sequence Ventures has launched a new EGP 500 mn fund dubbed Egypt <\/strong><strong>Deep-Tech, <\/strong>it said in <a href=\"https:\/\/ent.news\/2021\/10\/V2-Media-Kit-Ar_En.pdf\">a press release (<\/a><a href=\"https:\/\/ent.news\/2021\/10\/V2-Media-Kit-Ar_En.pdf\">pdf<\/a><a href=\"https:\/\/ent.news\/2021\/10\/V2-Media-Kit-Ar_En.pdf\">)<\/a>. The fund plans to invest in Egyptian startups operating in health-tech, fintech, ed-tech, prop-tech, logistics, and DevOps. It aims to raise between EGP 100-150 mn by its first close, which is expected to wrap up before the year is out, Sequence Executive Chairman Karim Helal told <a href=\"https:\/\/bit.ly\/3Dg5FsN\">Hapi Journal<\/a> during a press conference yesterday.<\/p>\n<p><strong>The fund\u2019s edge? A network of alliances with European VCs and accelerators. <\/strong>Sequence Ventures has created strategic alliances with 45 VCs and accelerators in four main base regions, the United Kingdom, Germany, the Netherlands, and Russia. \u201cThe strategic alliances we have serve as an asset to the startups in our portfolio as they offer matchmaking and later on exit options for Egyptian startups in Europe, such as acquisitions,\u201d Senior Business Analyst Alia Bayoumi told Enterprise.<\/p>\n<p><strong>Where will the fund invest? <\/strong>\u201cWe\u2019re investing entirely in Egypt in the pre-seed to series-A range,\u201d Bayoumi told us. The company also works with a team of four technical advisors who are experts in areas including AI and blockchain, and help screen startups and decide on potential investments.<\/p>\n<p><strong>Who is behind Sequence Ventures? <\/strong>Founded in 2019, Sequence Ventures counts Carbon Holdings Managing Director Karim Helal as its executive chairman and capital markets veteran Maged Shawky, the former executive chairman of Beltone, as a member of its management board. Mohamed El Sherif, Ironwood Investments\u2019 managing director, is the firm\u2019s founding partner and his co-founder at Ironwood, Mohamed Fahmy, is also on board as a managing partner.<\/p>\n<p><strong>On the advisory board: <\/strong>Mohsen Mahgoub, Mohamed ElSewedy, Salma ElSaidy, Ayman Korra, Ahmed Shalaby, and Sohair Awad.<\/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\/entrepreneurship\/\">entrepreneurship<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sequence-ventures\/\">Sequence Ventures<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/venture-capital\/\">venture capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556010\" 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=\"556010\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/digital-ins-startup-amenli-raises-usd-2-3-mn-in-seed-round\/\">\r\n                            Digital ins. startup Amenli raises USD 2.3 mn in seed round                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/digital-ins-startup-amenli-raises-usd-2-3-mn-in-seed-round\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/digital-ins-startup-amenli-raises-usd-2-3-mn-in-seed-round\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/digital-ins-startup-amenli-raises-usd-2-3-mn-in-seed-round\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Digital ins. startup Amenli raises USD 2.3 mn in seed round&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/digital-ins-startup-amenli-raises-usd-2-3-mn-in-seed-round\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/digital-ins-startup-amenli-raises-usd-2-3-mn-in-seed-round\/&title=Digital ins. startup Amenli raises USD 2.3 mn in seed round\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Digital+ins.+startup+Amenli+raises+USD+2.3+mn+in+seed+round+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F06%2Fdigital-ins-startup-amenli-raises-usd-2-3-mn-in-seed-round%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/digital-ins-startup-amenli-raises-usd-2-3-mn-in-seed-round\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/82.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"556011\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/digital-ins-startup-amenli-raises-usd-2-3-mn-in-seed-round\/82-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/82.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"82.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/82.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/82.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556010\" class=\"content-area-description single-story post-556010 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-enterpriseam 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-03\"><\/a> <strong>Egypt-based digital ins. startup<\/strong> <strong><a href=\"https:\/\/www.amenli.com\/\">Amenli<\/a><\/strong><strong> raised USD 2.3 mn i<\/strong><strong>n a seed round<\/strong>, <a href=\"https:\/\/techcrunch.com\/2021\/10\/05\/yc-backed-amenli-raises-2-3m-to-provide-insurance-to-egyptian-consumers\/\">TechCrunch<\/a> reported yesterday. The round was co-led by <a href=\"https:\/\/www.p1.ventures\/\">P1 Ventures<\/a>, <a href=\"https:\/\/www.globalfounderscapital.com\/\">Global Founders Capital<\/a>, and <a href=\"https:\/\/www.animfund.com\/\">Anim Fund<\/a>, and also included <a href=\"https:\/\/www.costanoavc.com\/\">Costanoa Ventures<\/a>, <a href=\"https:\/\/liquid2.vc\/\">Liquid2 Ventures<\/a>, Cliff Angels and other angel investors. The company will use the proceeds to expand its team and grow its operations, CEO Shady El Tohfa told the website.<\/p>\n<p><strong>What\u2019s Amenli? <\/strong>The startup is the <a href=\"https:\/\/www.ycombinator.com\/companies\/amenli\">first licensed<\/a> digital ins. broker in Egypt, and sells life, medical and car policies.<\/p>\n<p><strong>Amenli is targeting middle-income Egyptians<\/strong>, which the company says is a largely untapped market of 50 mn people. Ins. companies in Egypt tend to focus on the large, high-value customers and neglect individuals, for which it can take 5-6 weeks to finalize a single policy, the company says. These middle-income earners are the company\u2019s core market. Amenli claims to be capable of processing more than 500 policies in less than 10 minutes, compared to the minimum three weeks offered by traditional firms.<\/p>\n<p><strong>This is the company\u2019s second capital injection in as many months:<\/strong> Last month, Amenli was one of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f3963a2-11fe-4a9e-9660-3e084040d7e9\">four Egyptian startups<\/a> that secured USD 125k in seed funding by US accelerator Y Combinator. The other startups include Cairo-based delivery service <a href=\"https:\/\/shipblu.com\/\">ShipBlu<\/a>, SaaS startup <a href=\"https:\/\/pylonump.com\/\">Pylon<\/a> and online auto-marketplace <a href=\"https:\/\/www.odiggo.com.eg\/\">Odiggo<\/a>.<\/p>\n<p><strong>Since graduating from Y Combinator, Amenli has been able to triple its revenue<\/strong>, El Tohfa said, without disclosing figures. The increase in revenues came from repeated customers who use more than one policy instead of new customers, he explained.<\/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\/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=\"556012\" 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=\"556012\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">NON-BANK FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/efg-hermes-signs-egp-750-mn-sale-and-leaseback-agreement-with-misr-italia\/\">\r\n                            EFG Hermes signs EGP 750 mn sale and leaseback agreement with Misr Italia                        <\/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\/10\/06\/efg-hermes-signs-egp-750-mn-sale-and-leaseback-agreement-with-misr-italia\/\" 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\/10\/06\/efg-hermes-signs-egp-750-mn-sale-and-leaseback-agreement-with-misr-italia\/')\">\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\/10\/06\/efg-hermes-signs-egp-750-mn-sale-and-leaseback-agreement-with-misr-italia\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=EFG Hermes signs EGP 750 mn sale and leaseback agreement with Misr Italia&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/efg-hermes-signs-egp-750-mn-sale-and-leaseback-agreement-with-misr-italia\/\">\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\/10\/06\/efg-hermes-signs-egp-750-mn-sale-and-leaseback-agreement-with-misr-italia\/&title=EFG Hermes signs EGP 750 mn sale and leaseback agreement with Misr Italia\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=EFG+Hermes+signs+EGP+750+mn+sale+and+leaseback+agreement+with+Misr+Italia+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F06%2Fefg-hermes-signs-egp-750-mn-sale-and-leaseback-agreement-with-misr-italia%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\/10\/06\/efg-hermes-signs-egp-750-mn-sale-and-leaseback-agreement-with-misr-italia\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/84.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"556013\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/efg-hermes-signs-egp-750-mn-sale-and-leaseback-agreement-with-misr-italia\/84-jpg-10\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/84.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"84.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/84.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/84.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556012\" class=\"content-area-description single-story post-556012 post type-post status-publish format-standard has-post-thumbnail hentry category-non-bank-finance tag-efg-hermes tag-enterpriseam tag-factoring tag-leasing tag-misr-italia-properties tag-non-bank-finance tag-non-banking-financial-services tag-retail wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>EFG Hermes\u2019 leasing and factoring arm has signed an EGP 750 mn sale and <\/strong><strong>leaseback agreement with Misr Italia Properties<\/strong> to refinance its Garden 8 Mall in New Cairo, EFG Hermes Corp-Solutions announced in a <a href=\"https:\/\/ent.news\/2021\/10\/EFG-Corp-Solutions-x-Misr-Italia-English.pdf\">statement (pdf)<\/a>.<\/p>\n<p><strong>Misr Italia will direct the funds to other projects: <\/strong>The money raised through the sale and leaseback of Garden 8 Mall will be directed to expansion in \u201chigher growth areas of the business,\u201d according to Misr Italia CEO Mohamed Hany El Assal. He noted that the advantage of this kind of financing is that the company can \u201cgenerate significant proceeds while essentially maintaining long-term control of value-generating facilities.\u201d The statement did not specify the duration of the lease agreement.<\/p>\n<p><strong>EFG likes commercial property:<\/strong> The leaseback agreement comes as EFG Hermes Corp-Solutions looks to expand its business in commercial real estate financing. \u201cThe commercial real estate sector in Egypt continues to benefit from strong demand driven by solid retail growth,\u201d company CEO Talal Elayat said in the statement, describing the agreement with Misr Italia as a \u201ccompelling [chance] for us to add high-quality, income-generating assets to our portfolio.\u201d<\/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\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/factoring\/\">factoring<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/leasing\/\">leasing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/misr-italia-properties\/\">Misr Italia Properties<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/non-bank-finance\/\">NON-BANK FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/non-banking-financial-services\/\">non-banking financial services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/retail\/\">retail<\/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=\"556014\" 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=\"556014\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/egypt-and-lebanon-are-close-to-wrapping-up-natgas-supply-agreement\/\">\r\n                            Egypt and Lebanon are close to wrapping up natgas supply agreement                        <\/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\/10\/06\/egypt-and-lebanon-are-close-to-wrapping-up-natgas-supply-agreement\/\" 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\/10\/06\/egypt-and-lebanon-are-close-to-wrapping-up-natgas-supply-agreement\/')\">\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\/10\/06\/egypt-and-lebanon-are-close-to-wrapping-up-natgas-supply-agreement\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt and Lebanon are close to wrapping up natgas supply agreement&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/egypt-and-lebanon-are-close-to-wrapping-up-natgas-supply-agreement\/\">\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\/10\/06\/egypt-and-lebanon-are-close-to-wrapping-up-natgas-supply-agreement\/&title=Egypt and Lebanon are close to wrapping up natgas supply agreement\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+and+Lebanon+are+close+to+wrapping+up+natgas+supply+agreement+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F06%2Fegypt-and-lebanon-are-close-to-wrapping-up-natgas-supply-agreement%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\/10\/06\/egypt-and-lebanon-are-close-to-wrapping-up-natgas-supply-agreement\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/85.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"556015\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/egypt-and-lebanon-are-close-to-wrapping-up-natgas-supply-agreement\/85-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/85.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"85.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/85.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/85.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556014\" class=\"content-area-description single-story post-556014 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-energy tag-enterpriseam tag-lebanon wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Egypt is putting the final touches on an agreement to supply natural gas to <\/strong><strong>Lebanon <\/strong>in a bid to help the crisis-hit country mitigate shortages of fuel imports, Energy Minister Tarek El Molla and his Lebanese counterpart, Walid Fayad, said following a meeting yesterday, according to <a href=\"https:\/\/www.cnbcarabia.com\/news\/view\/89358\">CNBC Arabia<\/a>. A few remaining \u201cmeasures\u201d to move forward are expected to wrap up in the coming few weeks, El Molla said. <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/egypt-close-finalising-arrangements-gas-supplies-lebanon-2021-10-05\/\">Reuters<\/a> also took note of the story.<\/p>\n<p><strong>The agreement could be expanded<\/strong> to move more gas than both countries had originally planned, Fayad said yesterday, without offering further detail. The Lebanese minister added there would be further discussions soon. Lebanon hopes the gas supply will allow it to generate 450 MW of power and is in talks with the World Bank for funding, officials said last month.<\/p>\n<p><strong>Egypt <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d4c45896-375b-4b81-9134-30471a8c90d8\">agreed last month<\/a><\/strong><strong> to ship gas to Lebanon through a pipeline running through Jordan and Syria<\/strong> to alleviate the energy crisis currently gripping the country after its central bank removed fuel subsidies that had strained state coffers during a devastating economic crisis that has left the country with chronic fuel and electricity shortages.<\/p>\n<p><strong>A potential complication:<\/strong> The plan could be complicated by sanctions the United States has imposed on Syria since 2011. Lebanese officials are appealing to Washington to make an exception.<\/p>\n<p><strong>OTHER ENERGY NEWS- The general assembly of a new company that will manage a <\/strong><strong>giant state-owned petrochemicals complex in Alamein had its first meeting yesterday.<\/strong> The company will oversee the construction of petrochemicals plants on a 1600-feddan plot in the city at an investment cost of USD 10.5 bn, the Oil Ministry said in a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/241294064707688\">statement<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/lebanon\/\">Lebanon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556016\" 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=\"556016\">\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\">Telecoms<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/misr-el-raqameya-partners-with-ihs-towers-on-massive-telecoms-project\/\">\r\n                            Misr El Raqameya partners with IHS Towers on massive telecoms project                        <\/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\/10\/06\/misr-el-raqameya-partners-with-ihs-towers-on-massive-telecoms-project\/\" 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\/10\/06\/misr-el-raqameya-partners-with-ihs-towers-on-massive-telecoms-project\/')\">\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\/10\/06\/misr-el-raqameya-partners-with-ihs-towers-on-massive-telecoms-project\/\">\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=Misr El Raqameya partners with IHS Towers on massive telecoms project&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/misr-el-raqameya-partners-with-ihs-towers-on-massive-telecoms-project\/\">\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\/10\/06\/misr-el-raqameya-partners-with-ihs-towers-on-massive-telecoms-project\/&title=Misr El Raqameya partners with IHS Towers on massive telecoms project\">\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=Misr+El+Raqameya+partners+with+IHS+Towers+on+massive+telecoms+project+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F06%2Fmisr-el-raqameya-partners-with-ihs-towers-on-massive-telecoms-project%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\/10\/06\/misr-el-raqameya-partners-with-ihs-towers-on-massive-telecoms-project\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556016\" class=\"content-area-description single-story post-556016 post type-post status-publish format-standard hentry category-telecoms tag-cit tag-enterpriseam tag-infrastructure 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-06\"><\/a><strong> The government\u2019s digitization arm,<\/strong><strong> Misr El Raqameya<\/strong><strong> holding, has signed a <\/strong><strong>partnership agreement with African Mobile mast operator IHS Towers<\/strong> to obtain a license from the National Telecommunications Regulatory Authority to set up and lease mobile phone towers, cabinet said in <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/241315228038905\">a statement<\/a>. The joint venture, branded IHS Telecom Towers Egypt, will be 20% owned by Masr El Rakameya and 80% by IHS Towers. It aims to build 6k towers throughout the country over the coming three years. The license would also allow for the acquisition and operation of existing mobile phone towers.<\/p>\n<p><strong>IHS Towers is the largest independent mobile towers operator in Africa.<\/strong> It is currently eyeing a New York Stock Exchange listing that is looking at a valuation of upwards of USD 7 bn, which would make it the largest US listing by an African company, the <a href=\"https:\/\/www.ft.com\/content\/be946fc2-2668-41af-b38d-d889a820507a\">Financial Times<\/a> reports.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cit\/\">CIT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/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=\"556017\" 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=\"556017\">\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\">EDUCATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/cira-to-offer-17-new-majors-in-badr-assiut-uni-bue-signs-up-with-belcash\/\">\r\n                            CIRA to offer 17 new majors in Badr Assiut uni, BUE signs up with Belcash                        <\/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\/10\/06\/cira-to-offer-17-new-majors-in-badr-assiut-uni-bue-signs-up-with-belcash\/\" 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\/10\/06\/cira-to-offer-17-new-majors-in-badr-assiut-uni-bue-signs-up-with-belcash\/')\">\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\/10\/06\/cira-to-offer-17-new-majors-in-badr-assiut-uni-bue-signs-up-with-belcash\/\">\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=CIRA to offer 17 new majors in Badr Assiut uni, BUE signs up with Belcash&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/cira-to-offer-17-new-majors-in-badr-assiut-uni-bue-signs-up-with-belcash\/\">\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\/10\/06\/cira-to-offer-17-new-majors-in-badr-assiut-uni-bue-signs-up-with-belcash\/&title=CIRA to offer 17 new majors in Badr Assiut uni, BUE signs up with Belcash\">\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=CIRA+to+offer+17+new+majors+in+Badr+Assiut+uni%2C+BUE+signs+up+with+Belcash+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F06%2Fcira-to-offer-17-new-majors-in-badr-assiut-uni-bue-signs-up-with-belcash%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\/10\/06\/cira-to-offer-17-new-majors-in-badr-assiut-uni-bue-signs-up-with-belcash\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556017\" class=\"content-area-description single-story post-556017 post type-post status-publish format-standard hentry category-education-watch tag-belcash tag-education tag-education-watch tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>EGX-listed education outfit CIRA has received presidential approval to begin offering <\/strong><strong>seventeen majors at its flagship Badr University in Assiut<\/strong>. The degrees include veterinary medicine, physical therapy, nursing, biotechnology, law, linguistics, political science, business and economics, and AI and data management, the company said in a <a href=\"https:\/\/ent.news\/2021\/10\/CIRAs-BUA-Receives-Presidential-Decree-to-Launch-17-New-Schools-Academic-Year-2021-October-5-2021.pdf\">press release (pdf)<\/a>. CIRA will prioritize launching medical faculties, which will be among the four to six it will launch by the spring semester of the 2021-2022 academic year.<\/p>\n<p><strong>Belcash, BUE to provide new education finance product: <\/strong>Beltone Consumer Finance (Belcash) and the British University in Egypt (BUE) signed a partnership agreement to provide tuition fee loans to the parents of BUE students, according to a <a href=\"https:\/\/ent.news\/2021\/10\/BUE-Press-Release.-En-converted.pdf\">BUE press<\/a><a href=\"https:\/\/ent.news\/2021\/10\/BUE-Press-Release.-En-converted.pdf\">release (pdf)<\/a>. The lender will cover partial and full loans over six to 12 monthly installments.<\/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\/belcash\/\">Belcash<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education-watch\/\">EDUCATION 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=\"556018\" 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=\"556018\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/fintech-startup-dopay-appoints-new-chairman\/\">\r\n                            Fintech startup Dopay appoints new chairman                        <\/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\/10\/06\/fintech-startup-dopay-appoints-new-chairman\/\" 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\/10\/06\/fintech-startup-dopay-appoints-new-chairman\/')\">\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\/10\/06\/fintech-startup-dopay-appoints-new-chairman\/\">\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 Dopay appoints new chairman&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/fintech-startup-dopay-appoints-new-chairman\/\">\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\/10\/06\/fintech-startup-dopay-appoints-new-chairman\/&title=Fintech startup Dopay appoints new chairman\">\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+Dopay+appoints+new+chairman+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F06%2Ffintech-startup-dopay-appoints-new-chairman%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\/10\/06\/fintech-startup-dopay-appoints-new-chairman\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556018\" class=\"content-area-description single-story post-556018 post type-post status-publish format-standard hentry category-moves tag-dopay tag-enterpriseam tag-fintech tag-moves wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Egypt-based fintech startup <strong><a href=\"https:\/\/www.dopay.com\/\">Dopay<\/a><\/strong> has named <strong>Ron Vollebregt<\/strong> as its new <strong>chairman<\/strong>, the company <a href=\"https:\/\/dopaynews.pr.co\/203103-dopay-announces-the-appointment-of-distinguished-international-payments-entrepreneur-and-lead\">announced<\/a> yesterday. Vollebregt co-founded and acted as COO of international payment services provider GlobalCollect prior to joining DoPay. He is the chairman of the board of directors of global payments infrastructure company Terrapay, board member at the Paris-based SlimPay, and an advisor to the board of directors of Yoco, a Cape Town-based company fulfilling online and offline payment needs for South Africa-based companies. The appointment comes less than a month after the company <a href=\"https:\/\/enterprise.press\/stories\/2021\/09\/16\/fintech-startup-dopay-raises-usd-18-mn-in-series-a-round-53683\/\">closed a USD 18 mn series A round<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dopay\/\">Dopay<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/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=\"556019\" 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=\"556019\">\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\">Kudos<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/banque-misr-nbe-claim-their-slots-in-bloombergs-syndicated-loans-league-table\/\">\r\n                            Banque Misr, NBE claim their slots in Bloomberg\u2019s syndicated loans league table                        <\/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\/10\/06\/banque-misr-nbe-claim-their-slots-in-bloombergs-syndicated-loans-league-table\/\" 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\/10\/06\/banque-misr-nbe-claim-their-slots-in-bloombergs-syndicated-loans-league-table\/')\">\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\/10\/06\/banque-misr-nbe-claim-their-slots-in-bloombergs-syndicated-loans-league-table\/\">\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=Banque Misr, NBE claim their slots in Bloomberg\u2019s syndicated loans league table&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/banque-misr-nbe-claim-their-slots-in-bloombergs-syndicated-loans-league-table\/\">\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\/10\/06\/banque-misr-nbe-claim-their-slots-in-bloombergs-syndicated-loans-league-table\/&title=Banque Misr, NBE claim their slots in Bloomberg\u2019s syndicated loans league table\">\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=Banque+Misr%2C+NBE+claim+their+slots+in+Bloomberg%E2%80%99s+syndicated+loans+league+table+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F06%2Fbanque-misr-nbe-claim-their-slots-in-bloombergs-syndicated-loans-league-table%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\/10\/06\/banque-misr-nbe-claim-their-slots-in-bloombergs-syndicated-loans-league-table\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556019\" class=\"content-area-description single-story post-556019 post type-post status-publish format-standard hentry category-kudos tag-banking tag-enterpriseam tag-kudos tag-national-bank-of-egypt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Banque Misr was ranked as the top lead arranger for syndicated loans in Egypt in <\/strong><strong>9M2021<\/strong>, according to a Bloomberg league table, the bank said in a <a href=\"https:\/\/ent.news\/2021\/10\/%D8%A8%D9%86%D9%83-%D9%85%D8%B5%D8%B1-%D9%8A%D8%AD%D8%B5%D9%84-%D8%B9%D9%84%D9%89-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2-%D8%A7%D9%84%D8%A7%D9%88%D9%84-%D8%B9%D9%84%D9%89-%D9%85%D8%B3%D8%AA%D9%88%D9%89-%D8%A7%D9%84%D8%A8%D9%86%D9%88%D9%83-%D8%A7%D9%84%D8%B9%D8%A7%D9%85%D9%84%D8%A9-%D9%81%D9%8A-%D8%A7%D9%84%D9%82%D8%B7%D8%A7%D8%B9-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%81%D9%8A-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A-%D9%81%D9%8A-%D8%AA%D8%B1%D8%AA%D9%8A%D8%A8-%D8%A7%D9%84%D9%82%D8%B1%D9%88%D8%B6-%D8%A7%D9%84%D9%85%D8%B4%D8%AA%D8%B1%D9%83%D8%A9-%D9%88%D9%81%D9%82%D8%A7%D9%8B-%D9%84%D9%85%D8%A4%D8%B3%D8%B3%D8%A9-%D8%A8%D9%84%D9%88%D9%85%D8%A8%D8%B1%D8%AC-%D8%A7%D9%84%D8%B9%D8%A7%D9%84%D9%85%D9%8A%D8%A9-1.pdf\">press release (pdf)<\/a>. Banque Misr concluded 27 syndicated loan transactions in 2021 with a total value of USD 4.12 bn, ranking as the fourth mandated lead arranger of syndicated loans in the MENA region.<\/p>\n<p><strong>The National Bank of Egypt (NBE) is also out with a statement on its 9M performance in <\/strong><strong>the syndication market<\/strong>, saying in a <a href=\"https:\/\/ent.news\/2021\/10\/Press-Release-Bloomberg-Q3-2021-21.pdf\">press release (pdf)<\/a> it was ranked third as facility agent, fourth as bookrunner and fifth as marketer of syndicated loans in MENA during the period. NBE closed 38 financing agreements for a total value of EGP 164 bn during the first nine months of 2021. <strong>Bloomberg has not made its most recent league table public.<\/strong><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kudos\/\">KUDOS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-bank-of-egypt\/\">National Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556020\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"556020\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/556020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556020\" class=\"content-area-description single-story post-556020 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.sodic.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/Sodic-June-MV-Roller-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556021\" 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=\"556021\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/saudi-grid-contract-signing-leads-coverage\/\">\r\n                            Saudi grid contract signing leads coverage                        <\/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\/10\/06\/saudi-grid-contract-signing-leads-coverage\/\" 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\/10\/06\/saudi-grid-contract-signing-leads-coverage\/')\">\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\/10\/06\/saudi-grid-contract-signing-leads-coverage\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Saudi grid contract signing leads coverage&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/saudi-grid-contract-signing-leads-coverage\/\">\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\/10\/06\/saudi-grid-contract-signing-leads-coverage\/&title=Saudi grid contract signing leads coverage\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Saudi+grid+contract+signing+leads+coverage+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F06%2Fsaudi-grid-contract-signing-leads-coverage%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\/10\/06\/saudi-grid-contract-signing-leads-coverage\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556021\" class=\"content-area-description single-story post-556021 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-covid-19 tag-energy tag-enterpriseam tag-facebook tag-infrastructure tag-last-nights-talk-shows tag-saudi-arabia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>There was little of note on the airwaves last night: <\/strong>The agreement to move ahead with the USD 1.8 bn Egypt-Saudi electricity interconnection project was among the highlights. Electricity Minister Mohamed Shaker phoned in on Al Hayah Al Youm to comment on the linkup, for which contracts were handed to a consortium of Orascom Construction and Japan\u2019s Hitachi yesterday (watch, <a href=\"https:\/\/www.youtube.com\/watch?v=xDNeOr3JLaA&ab_channel=AlHayahTVNetwork\">runtime: 4:14<\/a> and <a href=\"https:\/\/www.youtube.com\/watch?v=4DTYv4vNDkk&ab_channel=AlHayahTVNetwork\">runtime: 5:43<\/a>). We have chapter and verse on the story in tonight\u2019s Hardhat, below.<\/p>\n<p><strong>Elsewhere, Kelma Akhira\u2019s Lamees El Hadidi aired the highlights of yesterday's Senate testimony <\/strong>by Facebook whistleblower Frances Haugen (<a href=\"https:\/\/www.youtube.com\/watch?v=OakAugnJnaY&ab_channel=%D9%83%D9%84%D9%85%D8%A9%D8%A3%D8%AE%D9%8A%D8%B1%D8%A9%D9%85%D8%B9%D9%84%D9%85%D9%8A%D8%B3%D8%A7%D9%84%D8%AD%D8%AF%D9%8A%D8%AF%D9%8A\">watch, runtime: 3:38<\/a>). We recap this story in What We\u2019re Tracking Today, above.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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\/facebook\/\">Facebook<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n            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proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" 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decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-7zt94jx\" data-v=\"4\" data-block-id=\"7zt94jx\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-7zt94jx-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-7zt94jx-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" 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role=\"list\" data-label=\"Slide %%d\"><\/div><\/div><\/div>\r\n        <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556023\" 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=\"556023\">\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\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/egypts-human-rights-strategy-in-the-news\/\">\r\n                            Egypt\u2019s human rights strategy in the news                        <\/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\/10\/06\/egypts-human-rights-strategy-in-the-news\/\" 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\/10\/06\/egypts-human-rights-strategy-in-the-news\/')\">\n                    Copy Link                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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/egypts-human-rights-strategy-in-the-news\/&title=Egypt\u2019s human rights strategy in the news\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt%E2%80%99s+human+rights+strategy+in+the+news+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F06%2Fegypts-human-rights-strategy-in-the-news%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\/10\/06\/egypts-human-rights-strategy-in-the-news\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556023\" class=\"content-area-description single-story post-556023 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-abdel-fattah-el-sisi tag-enterpriseam tag-human-rights wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The sole notable mention of Egypt news on this otherwise quiet morning in the international press:<\/strong> President Abdel Fattah El Sisi\u2019s newly launched human rights strategy is receiving mixed reviews from human rights advocates, according to this <a href=\"https:\/\/www.washingtonpost.com\/world\/middle_east\/egypt-sissi-human-rights\/2021\/10\/04\/98d73674-214e-11ec-a8d9-0827a2a4b915_story.html\">Washington Post<\/a> piece, which includes interviews with Assistant Foreign Minister Alaa Roushdy and several prominent Egyptian civil rights figures.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/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=\"556024\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556025\" 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=\"556025\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/health-ministry-mulls-allowing-12-year-olds-to-be-jabbed\/\">\r\n                            Health Ministry mulls allowing 12 year olds to be jabbed                        <\/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\/10\/06\/health-ministry-mulls-allowing-12-year-olds-to-be-jabbed\/\" 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\/10\/06\/health-ministry-mulls-allowing-12-year-olds-to-be-jabbed\/')\">\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\/10\/06\/health-ministry-mulls-allowing-12-year-olds-to-be-jabbed\/\">\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=Health Ministry mulls allowing 12 year olds to be jabbed&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/health-ministry-mulls-allowing-12-year-olds-to-be-jabbed\/\">\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\/10\/06\/health-ministry-mulls-allowing-12-year-olds-to-be-jabbed\/&title=Health Ministry mulls allowing 12 year olds to be jabbed\">\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=Health+Ministry+mulls+allowing+12+year+olds+to+be+jabbed+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F06%2Fhealth-ministry-mulls-allowing-12-year-olds-to-be-jabbed%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\/10\/06\/health-ministry-mulls-allowing-12-year-olds-to-be-jabbed\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556025\" class=\"content-area-description single-story post-556025 post type-post status-publish format-standard hentry category-covid-watch tag-china tag-covid-19 tag-enterpriseam tag-sinovac tag-vaccines wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>The Health Ministry could bring down the minimum vaccine eligibility age <\/strong><strong>to 12<\/strong>, cabinet spokesman Nader Saad said last night, depending on the availability of vaccines approved for use in children (<a href=\"https:\/\/youtu.be\/nhfQhGTqqpo?t=151\">watch, runtime: 4:06<\/a>). The government aims to gradually bring down the age of eligibility, from 18 to 15, and then later to 12, Saad added. President Abdel Fattah El Sisi had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2aa0cbf8-4b07-45ab-96ec-6250eba5ffcc\">previously said<\/a> Egypt could begin offering vaccines to children at schools once they are approved for use by minors.<\/p>\n<p><strong>The Health Ministry is considering banning unvaccinated people from entering <\/strong><strong>government service offices<\/strong>, Saad told Ala Mas\u2019ouleety\u2019s Ahmed Mousa (<a href=\"https:\/\/www.youtube.com\/watch?v=lBwiuiPU9aM\">watch, runtime: 4:38<\/a>). This measure would follow the completion of the vaccination of all government employees, with 3 mn out of 3.5 mn government administrative employees having been vaccinated so far, Saad said.<\/p>\n<p><strong>Good news travelers: <\/strong>The cost of getting a covid PCR test is about to get 25% cheaper after the cabinet approved the decision to reduce the cost of the test for both Egyptians and foreigners during its <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/240968558073572\">weekly meeting<\/a>. Egyptian travelers will now pay EGP 900 for the test instead of EGP 1,200, while foreigners will pay EGP 1,200 instead of EGP 1,600. We believe the pricing decision applies only to prospective travellers requesting pre-departure tests at government labs, but the statement does not make that clear.<\/p>\n<p><strong>Egypt will receive a donation of 2 mn doses of Sinovac from China, <\/strong>which is expected to arrive during \u201cthe coming period\u201d, the Health Ministry said in a <a href=\"https:\/\/bit.ly\/3iy0kVT\">statement<\/a> during a visit on Monday by the Chinese ambassador to Egypt Liao Liqiang.<\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/photo?fbid=176163364694886&set=a.113299807647909\">reported<\/a><\/strong> <strong>778 new covid-19 infections yesterday<\/strong>, up from 771 the day before. Egypt has now disclosed a total of 308,347 confirmed cases of covid-19. The ministry also reported 39 new deaths, bringing the country\u2019s total death toll to 17,508.<\/p>\n<p><strong>Pfizer vaccine 90% effective at preventing hospitalization: <\/strong>Two doses of Pfizer\/BioNtech\u2019s covid-19 vaccine have been shown to be \u201chighly effective\u201d against covid-related hospitalizations for a six-month period according to a new 3 mn-person study, published in <a href=\"https:\/\/www.thelancet.com\/journals\/lancet\/article\/PIIS0140-6736(21)02183-8\/fulltext\">the Lancet<\/a> medical journal. The vaccine remained 90% effective at preventing hospitalizations from all variants, including the more virulent delta strain.<\/p>\n<p><strong>But efficacy against infection wanes considerably after just five months:<\/strong> The vaccine\u2019s effectiveness at preventing infections dropped considerably, from 88% protection against contracting the virus in the first month after vaccination to some 47% after five months. The findings come after a separate <a href=\"https:\/\/www.cdc.gov\/mmwr\/volumes\/70\/wr\/mm7038e1.htm?s_cid=mm7038e1_w\">CDC study<\/a> last month said that vaccine effectiveness against hospitalization went from 91% in the first few months to 77% after four months.<\/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\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sinovac\/\">Sinovac<\/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=\"556026\" 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=\"556026\">\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\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/sawiris-backed-fertiglobe-to-list-on-adx-next-month\/\">\r\n                            Sawiris-backed Fertiglobe to list on ADX next month                        <\/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\/10\/06\/sawiris-backed-fertiglobe-to-list-on-adx-next-month\/\" 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 listing could value the company at around USD 7 bn, potentially making it one of Abu Dhabi\u2019s largest ever IPOs.<\/p><p><strong>The listing is timed to take advantage of the <\/strong><strong><a href=\"https:\/\/blogs.worldbank.org\/opendata\/fertilizer-prices-expected-stay-high-over-remainder-2021\">soaring fertilizer sales and higher prices<\/a><\/strong> driven by the commodities boom, and though record natural gas prices are hurting many producers in the sector, Fertiglobe has long-term contracts keeping its gas costs cheap, CEO Ahmed El Hoshy told <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-10-05\/adnoc-and-oci-s-fertilizer-unit-to-sell-shares-in-abu-dhabi-ipo?sref=mmeFTDW1\">Bloomberg<\/a>.<\/p><p><strong>OCI currently owns 58% of the JV and Adnoc the remaining 42%.<\/strong> Post-IPO, OCI will indirectly continue to own a majority stake in the company, while Adnoc will indirectly own at least 36.2% of the company\u2019s share capital.<\/p><p><strong>Advisors: <\/strong>Citigroup, First Abu Dhabi Bank, HSBC Bank Middle East and Morgan Stanley have been appointed as joint global coordinators. EFG Hermes UAE, Goldman Sachs and International Securities have been appointed as joint bookrunners.<\/p><hr class=\"grey-line\"><p><strong>EMs will need to out-hawk the Fed to survive stagflation: <\/strong>So says the <a href=\"https:\/\/www.ft.com\/content\/e626dcd7-b512-4752-939d-9bcb298a62e5\">FT\u2019s<\/a> Robert Armstrong, who joins those warning that stalling growth, high prices and tightening monetary policy among developed economies is already hitting emerging-market bonds, assets and currencies with force. Consumer price inflation in EMs is more exposed to volatile and rapidly rising food and energy prices, while currencies will weaken as the US Fed tightens policy. As a result, investors are best sticking to those countries where central banks are making a serious attempt to tackle inflation by raising rates, analysts tell Armstrong: <strong>\u201cIf you are out there as an EM central bank talking about transitory inflation and anchored expectations, you are deluding yourself<\/strong>,\u201d says one.<\/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>10432.63<\/p>\n<\/td>\n<td>\n<p>+0.05% (YTD: -3.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>11,539.23<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: +32.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>7,669.57<\/p>\n<\/td>\n<td>\n<p>-0.4% (YTD: +52.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>2,783.39<\/p>\n<\/td>\n<td>\n<p>+1.02% (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>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,345.72<\/p>\n<\/td>\n<td>\n<p>+1.05% (YTD: +15.7%)<\/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>7,077.10<\/p>\n<\/td>\n<td>\n<p>+0.9% (YTD: +9.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 82.60<\/p>\n<\/td>\n<td>\n<p>+1.7%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 6.31<\/p>\n<\/td>\n<td>\n<p>+9.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,760.90<\/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>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 51,594.20<\/p>\n<\/td>\n<td>\n<p>+5.56% (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 less than 0.1% at yesterday\u2019s close<\/strong> on turnover of EGP 813 mn (47.9% below the 90-day average). Foreign investors were net sellers. The index is down 3.8% YTD.<\/p><p><strong>In the green: <\/strong>Raya Holding (+7.5%), Fawry (+3.9%) and Ezz Steel (+3.6%).<\/p><p><strong>In the red: <\/strong>Cleopatra Hospital (-3.4%), Egyptian Resorts Company (-2.5%) and CIRA (-2.3%).<\/p><p><strong>Global markets are looking a bit gnarly this morning. <\/strong>The Nikkei, Kospi and Hang Seng are all down c. 1% at dispatch time, with only Shanghai clinging to the green. Futures suggest the FTSE 100 and DAX 30 will both open in the red, with the CAC 40 in Paris being the only major European index on deck to start the day in the green. It\u2019s also looking like the Dow, S&amp;P and Nasdaq will all open in the red later today.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/adnoc\/\">ADNOC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/emerging-markets\/\">emerging markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fertiglobe\/\">Fertiglobe<\/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\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/monetary-policy\/\">monetary policy<\/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\/tightening\/\">tightening<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us-federal-reserve\/\">US Federal Reserve<\/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=\"556027\" 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=\"556027\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/el-said-talks-sustainability-as-shoukry-pushes-for-further-russia-cooperation\/\">\r\n                            El Said talks sustainability as Shoukry pushes for further Russia cooperation                        <\/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\/10\/06\/el-said-talks-sustainability-as-shoukry-pushes-for-further-russia-cooperation\/\" target=\"_blank\">\n                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class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556027\" class=\"content-area-description single-story post-556027 post type-post status-publish format-standard hentry category-diplomacy tag-diplomacy tag-enterpriseam tag-foreign-affairs tag-hala-el-said tag-russia tag-sameh-shourky wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>El Said talks sustainability with EU top green official: <\/strong>Planning Minister Hala El Said discussed investing in sustainable development and the government\u2019s Decent Life initiative in a meeting yesterday with First Vice President of the European Commission and champion of EU green initiatives Frans Timmermans, on the sidelines of the second <a href=\"https:\/\/ufmsecretariat.org\/event\/2nd-ufm-ministerial-conference-on-environment-and-climate-action\/\">Union for the Mediterranean ministerial climate conference<\/a>, the planning ministry said in a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/241182301385531\">statement<\/a>.<\/p>\n<p><strong>Egypt and Russia talk cooperation: <\/strong>Foreign Minister Sameh Shoukry met with Secretary of the Russian Security Council Nikolai Patrushev to advance various bilateral cooperation files on the regional and international fronts, according to a MFA <a href=\"https:\/\/bit.ly\/2YjTKvq\">statement<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/foreign-affairs\/\">foreign affairs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hala-el-said\/\">Hala El Said<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia\/\">Russia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sameh-shourky\/\">Sameh Shourky<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"556028\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhat\/\">\r\n                            Read Hardhat                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">15<\/div>\r\n    \r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/egypt-saudi-electricity-interconnection-finally-kicks-into-gear-heres-what-we-know-so-far\/\"> \r\n                            Egypt-Saudi electricity interconnection finally kicks into gear, here\u2019s what we know so far<\/a>\r\n                        <\/h3>\r\n    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn 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                       \n<article id=\"post-556028\" class=\"content-area-description post-556028 hardhat type-hardhat status-publish has-post-thumbnail hentry tag-construction tag-energy tag-enterprise-hardhat tag-enterpriseam tag-hitachi-abb-power-grids tag-infrastructure tag-orascom-construction tag-saudi-arabia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>The linkup of Egypt and Saudi\u2019s electricity grids is finally moving forward \u2014 here\u2019s what you need to know<\/strong><strong>: <\/strong>A consortium of Orascom Construction (OC) and Japan\u2019s Hitachi ABB Power Grids were awarded the project\u2019s execution contracts by the Egyptian Electricity Transmission Company yesterday, OC said in a <a href=\"https:\/\/ent.news\/2021\/10\/OC-Consortium-to-Connect-the-National-Power-Grids-of-EGt-and-SA-1.pdf\">press release (pdf)<\/a>, bringing the massive project to connect the national power grids of Egypt and Saudi Arabia one step closer to becoming a reality. The project had been <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9db02a9e-375b-4bc9-b5cb-0817341e19a3\">on hold<\/a> since at least 2018, when initial tenders were launched, primarily due to the Saudi government\u2019s work on its massive Neom City. We took note of the signing in yesterday\u2019s EnterprisePM, but were yet to describe the ins and outs of the project, which will be the first inter-continent high-voltage direct current (HDVC) project in the world.<\/p>\n<p><strong>This is what we know so far: <\/strong>The first 1.5 GW phase <strong>will be operational by 2024,<\/strong> with the second 1.5 GW phase to follow a year later. <strong>The project will cost some USD 1.8 bn<\/strong>, up by nearly USD 200 mn since its initial announcement in 2018, cabinet said in a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/240899174747177\">statement<\/a>. Egypt will cover somewhere in the region of 45%, covering the cost of work within its borders, Electricity Minister Mohamed Shaker meanwhile told <a href=\"https:\/\/www.cnbcarabia.com\/news\/view\/89349\/%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A1-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A-%D9%84%D9%80-CNBC--%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D8%B3%D9%86%D9%88%D9%82%D8%B9-%D8%B9%D9%82%D9%88%D8%AF%D8%A7-%D9%84%D9%84%D8%B1%D8%A8%D8%B7-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A6%D9%8A-%D9%85%D8%B9-%D9%82%D8%A8%D8%B1%D8%B5-%D9%88%D8%A7%D9%84%D9%8A%D9%88%D9%86%D8%A7%D9%86-%D9%84%D8%AA%D8%B5%D8%AF%D9%8A%D8%B1-%D8%A7%D9%84%D8%B7%D8%A7%D9%82%D8%A9-%D9%84%D8%A3%D9%88%D8%B1%D9%88%D8%A8%D8%A7.html\">CNBC Arabia<\/a>. The OC statement said that funding would be provided by a multilateral development finance institution, while Shaker separately said on the airwaves last night that the Islamic Development Bank, Kuwait Fund for Arab Economic Development, and the Arab Fund for Economic and Social Development are all on board as financiers for the project (<a href=\"https:\/\/www.youtube.com\/watch?v=xDNeOr3JLaA&ab_channel=AlHayahTVNetwork\">watch, runtime: 4:15<\/a>).<\/p>\n<p><strong>How big is the project? <\/strong>Touted as \u201cthe most advanced and complex \u2026 of its kind worldwide,\u201d the project will allow Egypt and Saudi to exchange <strong>up to 3 GW of electricity<\/strong> at peak times, powering upward of 20 million people. It will additionally accommodate the exchange of renewable energy, OC said. According to Shaker, Egypt and Saudi produce a combined 160 GW of electricity every year. The interconnection will transport the 3GW at 500 kV along 1.3k km using overhead power lines and a subsea cable across the Red Sea.<\/p>\n<p><strong>What will the OC-Hitachi consortium do?<\/strong> It will build the main HVDC converter station on the Egypt side in northeast Cairo and a substation in Sinai\u2019s Taba. \u201cOrascom Construction is once again playing a key role in transformational projects that drive Egypt towards sustainable infrastructure development. We continue to collaborate with our long term client, the Egyptian Ministry of Electricity represented by EETC, and we are proud to partner with Hitachi ABB Power Grids,\u201d OC CEO Osama Bishai said, according to the press release. <strong>On the Saudi side, a separate consortium comprising Hitachi and SSEM will take charge<\/strong>.<\/p>\n<p><strong>The interconnection project has been in the works for years<\/strong>. Sources from EETC <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9db02a9e-375b-4bc9-b5cb-0817341e19a3\">last year<\/a> confirmed that the delay was due to Saudi\u2019s Neom project, which crosses through a section that was originally meant to be used for the shared grid. The original route for the power transmission lines <a href=\"https:\/\/enterprise.press\/stories\/2019\/04\/21\/eetc-receives-new-route-for-usd-2-5-bn-egypt-saudi-electricity-project-3\/\">had to be redrawn<\/a> by the Saudis to avoid conflict.<\/p>\n<p><strong>How much is Egypt going to get out of this exchange? <\/strong>\u201cThe exchange goes both ways,\u201d sources from the company told us without elaborating more on the question of excess capacity the grid will channel out of Egypt.<\/p>\n<p><strong>The project offers Egypt multiple potential benefits:<\/strong> The country will get the chance to use Saudi electricity at peak consumption times in the evenings, while Saudi will benefit from using Egyptian electricity at their own peak consumption time in the afternoon, Hamza told Enterprise. Egypt will also be able to access the wider GCC grid, potentially exporting electricity to countries including Bahrain, Oman, and Kuwait, Hamza added. How much the EETC will charge for electricity generated in Egypt is still undecided, according to Hamza.<\/p>\n<p><strong>Egypt has a large surplus of electricity generation<\/strong> it built over the past few years after struggling from blackouts, creating a large amount of surplus energy. That, combined with our natural gas bonanza, has us positioning ourselves as a regional energy hub.<\/p>\n<p><strong>The gov\u2019t is looking to exports as a potential solution for the surplus.<\/strong> Authorities were looking to export around 15 GW of excess capacity to neighbors in Europe, Africa, and the GCC, a government source we spoke to for <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/97de7175-da9a-4189-99de-bfb45a999e00\">a Hardhat feature on our electricity surplus<\/a> late last year said. Egypt\u2019s grid is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/35696a57-5c7b-4e09-87f6-618f5634265e\">currently linked<\/a> with Jordan, Palestine, Libya, and, most recently, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/38ece99e-b3be-4ea8-b3ac-21750621bb64\">Sudan<\/a>.<\/p>\n<p><strong>The first phase of the <\/strong><strong><a href=\"https:\/\/www.euroafrica-interconnector.com\/at-glance\/project-timeline\/\">USD 4 bn EuroAfrica project<\/a><\/strong><strong> to connect our grid to Cyprus<\/strong> is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e0cf0fa3-ab69-4d53-abb1-ad0d6187e7fe\">also underway<\/a>. Speaking to us yesterday, Hamza said several MoUs are currently being prepped soon between Egypt, Cyprus and Greece for electricity interconnection.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top infrastructure stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>ACWA Power eyes desalination plants:<\/strong> The Saudi renewables company may be <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e896f40-de35-4eb5-a5af-794da2447234\">looking to partner<\/a> with Egyptian companies to bid for desalination projects being offered by the SFE.<\/li>\n<li><strong>Another petchem complex in the SCZone:<\/strong> Anchorage Investments <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b234b47d-4c67-4ac4-8740-29a7de38916f\">is looking to build<\/a> a USD 2.5 bn petrochemical complex in the Suez Canal Economic Zone (SCZone)<\/li>\n<li><strong>SFE could embark on new desalination projects: <\/strong>Orascom Construction and Hassan Allam Holding <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7dd7435c-016c-432b-8436-8ee56589f64e\">are in early talks<\/a> with the Sovereign Fund of Egypt (SFE) for contracts to build several new desalination plants.<\/li>\n<\/ul>\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\/construction\/\">construction<\/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\/hitachi-abb-power-grids\/\">Hitachi ABB Power Grids<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-construction\/\">Orascom Construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n                    <\/div>\r\n                <\/div>\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=\"556030\" 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\/10\/06\/your-essential-business-calendar-on-6-october-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556030\" class=\"content-area-description single-story post-556030 post type-post status-publish format-standard hentry category-calendar tag-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>30 September-8 October (Thursday-Friday): The Cairo International Fair, Cairo International Conference Center, Cairo, Egypt.<\/p>\n<p>October: Romanian President Klaus Iohannis <a href=\"https:\/\/bit.ly\/3z0gaic\">could visit Egypt<\/a> mid this month to discuss ways to boost tourism cooperation between the two countries.<\/p>\n<p>6 October (Wednesday): Armed Forces Day.<\/p>\n<p>7 October (Thursday): National holiday in observance of Armed Forces Day.<\/p>\n<p>9 October (Saturday): Public schools and universities begin 2021-2022 academic year<\/p>\n<p>9-15 October (Saturday-Friday): <a href=\"https:\/\/bit.ly\/3uCd8zg\">Turathna Exhibition<\/a>, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>11-17 October (Monday-Sunday): <a href=\"https:\/\/www.worldbank.org\/en\/meetings\/splash\/annual\">IMF + World Bank Annual Meetings<\/a>.<\/p>\n<p>12-14 October (Tuesday-Thursday): Mediterranean Offshore Conference, Alexandria, Egypt.<\/p>\n<p>15-21 October (Friday-Thursday): <a href=\"https:\/\/www.intrafricantradefair.com\/en\">Intra-African Trade Fair 2021<\/a>, Durban, KwaZulu-Natal, South Africa.<\/p>\n<p>Mid-October: The Egyptian Banking Institute, the Financial Services Institute, and I-Score will begin airing in mid-October the Digital Credit Scoring Webinar Series, a line-up of webinars on the banking sector and banking regulations.<\/p>\n<p>18 October (Monday): E-Finance begins trading on EGX.<\/p>\n<p>18 October (Monday): Prophet\u2019s Birthday.<\/p>\n<p>21 October (Thursday): National holiday in observance of the Prophet\u2019s Birthday.<\/p>\n<p>24-28 October (Sunday-Thursday) <a href=\"https:\/\/www.cairowaterweek.eg\/\">Cairo Water Week<\/a>, Cairo, Egypt.<\/p>\n<p>27-28 October (Wednesday-Thursday) <a href=\"https:\/\/platforms-root-technologies.com\/icec-2021\/\">Intelligent Cities Exhibition & Conference<\/a>, Royal Maxim Palace Kempinski, Cairo, Egypt.<\/p>\n<p>28 October (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>28 October (Thursday): Second tranche of overdue subsidy payouts <a href=\"https:\/\/bit.ly\/3BSLyAg\">will be handed<\/a> to eligible exporters.<\/p>\n<p>30 October - 4 November (Saturday-Thursday): The first edition of <a href=\"https:\/\/globalswimseries.com\/ryan-lochte-announces-first-race-the-legends-event-in-egypt\/\">Race The Legends<\/a>, Egypt.<\/p>\n<p>31 October (Saturday): <a href=\"https:\/\/urbanoctober.unhabitat.org\/wcd\">World Cities Day<\/a>, Luxor, Egypt.<\/p>\n<p>November: The French-Egyptian Business Forum is set to take place in the Suez Canal Economic Zone.<\/p>\n<p>November: Egypt will <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/163314772505618\">host another round of talks<\/a> to reach a potential Egyptian-Eurasian trade agreement, which can significantly contribute to increasing the volume of Egyptian exports to the Russia-led bloc that includes Armenia, Belarus, Kazakhstan and Kyrgyzstan.<\/p>\n<p>1-3 November (Monday-Wednesday): Egypt Energy exhibition on power and renewable energy, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>2-3 November (Tuesday-Wednesday): The Federal Reserve meets to review interest rates.<\/p>\n<p>1-12 November (Monday-Friday): 2021 United Nations Climate Change Conference (COP26), Glasgow, United Kingdom.<\/p>\n<p>16-17 November (Tuesday-Wednesday):<a href=\"https:\/\/africafintechsummit.com\">Africa fintech summit<\/a>, Cairo.<\/p>\n<p>26 November-5 December (Friday-Sunday): <a href=\"https:\/\/www.facebook.com\/CairoFilms\/photos\/a.386668088207064\/1611462495727611\/\">The 43rd Cairo International Film Festival<\/a>.<\/p>\n<p>29 November-2 December (Monday-Thursday): <a href=\"https:\/\/www.egyptdefenceexpo.com\/\">Egypt Defense Expo<\/a>, Egypt International Exhibition Centre.<\/p>\n<p>7-8 December (Tuesday-Wednesday): <a href=\"https:\/\/northafricatradefinance.com\/\">North Africa Trade Finance Summit<\/a>.<\/p>\n<p>8-10 December (Wednesday-Thursday): <a href=\"https:\/\/www.gfhsegypt.com\/\">Global Forum for Higher Education and Scientific Research (GFHS)<\/a>, Cairo, Egypt.<\/p>\n<p>12-14 December (Sunday-Tuesday): <a href=\"http:\/\/www.foodafrica-expo.com\/\">Food Africa Cairo<\/a> trade exhibition, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>13-17 December: United Nations Convention against Corruption, Sharm El Sheikh, Egypt.<\/p>\n<p>14-19 December (Tuesday-Sunday): <a href=\"https:\/\/www.facebook.com\/cifcet\/\">The Cairo International Festival for Experimental Theater<\/a>.<\/p>\n<p>14-15 December (Tuesday-Wednesday): The Federal Reserve meets to review interest rates.<\/p>\n<p>15 December (Wednesday): Deadline for joint stock companies and investment companies in Cairo to join e-invoicing platform.<\/p>\n<p>16 December (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>1Q2022: <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9cd1fc44-1593-4317-8658-0aa792215521\">Launch of the Egyptian Commodities Exchange<\/a>.<\/p>\n<p>14-16 February 2022 (Monday-Wednesday): Egypt Petroleum Show, Egypt International Exhibition Center, New Cairo, Egypt.<\/p>\n<p>19 February 2022 (Saturday): Public universities begin the second term of the 2021-2022 academic year.<\/p>\n<p>1H2022: The World Economic Forum annual meeting, location TBD.<\/p>\n<p>22-24 April 2022:<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>May 2022: Investment in Logistics Conference, Cairo, Egypt<\/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>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><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. 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