{"id":556040,"date":"2021-10-10T03:59:01","date_gmt":"2021-10-10T03:59:01","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=556040"},"modified":"2025-12-16T01:08:31","modified_gmt":"2025-12-16T01:08:31","slug":"enterprise-fuel-prices-are-up-at-the-pump-as-the-global-energy-crisis-hits-home","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/enterprise-fuel-prices-are-up-at-the-pump-as-the-global-energy-crisis-hits-home\/","title":{"rendered":"Enterprise Fuel prices are up at the pump as the global energy crisis hits home"},"content":{"rendered":"<section id=\"556042\" 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=\"556042\">\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\/10\/this-morning-the-global-energy-crisis-is-driving-prices-up-at-the-pumps-in-egypt-uk-to-recognize-our-vaccination-certificates\/\">\r\n                            THIS MORNING: The global energy crisis is driving prices up at the pumps in Egypt + UK to recognize our vaccination certificates                        <\/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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                                       <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556042\" class=\"content-area-description single-story post-556042 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-e-finance tag-education tag-energy tag-enterpriseam tag-fuel tag-inflation tag-ipo-watch tag-oil-ministry tag-schools tag-state-privatization-program tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Good morning, everyone. <\/strong>We hope you enjoyed your three-day weekend , because it\u2019s looking like a busy week ahead. Let\u2019s jump straight in.<\/p><p><strong>WHAT\u2019S HAPPENING TODAY- <\/strong><\/p><p><strong>Inflation figures are due out today:<\/strong> State statistics agency Capmas is expected to release data on inflation in September. Annual urban inflation hit its highest level in nine months <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a7ce0952-23a6-4e3a-8296-21071df079fa\">in August<\/a> on the back of rising food, fuel and transportation costs, with headline urban inflation rising slightly to 5.7%, from 5.4% <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/abf567b4-dda5-496a-8f9a-a388342de376\">in July<\/a>.<\/p><p><strong>So far, annual headline inflation is well within the CBE\u2019s inflation target of 7%( \u00b12%) <\/strong>on average by 4Q2022 \u2014 and is consistent with price stability over the medium term, which has allowed the central bank to keep interest rates on hold for seven consecutive meetings. That said, It is unclear how the CBE\u2019s Monetary Policy Committee will react in light of the government raising fuel prices over the weekend. <strong>The committee is set to next meet on 28 October to decide on interest rates.<\/strong><\/p><p><strong>ALSO HAPPENING TODAY- Public schools and traffic (a lot of it): <\/strong>Expect your commutes to be a little extra painful starting today, as public schools and universities are both back in session.<\/p><p><strong>REMINDER- Covid-19 vaccination is now mandatory for all 18+ year-old students<\/strong>, educators and staff at private and public schools and universities, according to a government directive issued in late August. 18+ year-old students can receive their vaccines through their schools, health officials said at the time. Education Minister Tarek Shawky instructed officials to inspect schools to ensure that all covid protocols are being followed, Shawky said<a href=\"https:\/\/bit.ly\/3iLCmXa\">at a meeting with<\/a> parents and teachers on Wednesday to mark the start of the academic year.<\/p><p><strong>Want to know how private schools and universities are coping with the mandates? <\/strong>Read our poll of education operators <a href=\"https:\/\/enterprise.press\/blackboards\/survey-how-ready-are-egypts-universities-to-comply-with-the-govts-vaccine-directive\/\">here<\/a>.<\/p><hr class=\"grey-line\"><p><a id=\"tldr-story-07\" class=\"content-anchor\"><\/a> <strong>SOME GOOD NEWS- The UK will now recognize Egyptian covid vaccination certificates <\/strong><strong>starting tomorrow<\/strong>, UK Ambassador to Egypt Gareth Bayley <a href=\"https:\/\/twitter.com\/GarethBayleyUK\/status\/1446409548705718274\">announced on Twitter<\/a>. Travelers arriving to the UK from Egypt will no longer have to quarantine if they\u2019re fully vaccinated with the Oxford \/ AstraZeneca, Pfizer \/ BioNTEch, Moderna or Johnson &amp; Johnson jabs at least 14 days before you arrive in the UK. A PCR test before traveling will not be required, he added.<\/p><p><strong>After arrival:<\/strong> Travelers must fill out a passenger locator form 48 hours before their flights and take a day-two PCR test after arrival to the UK.<\/p><p><strong>ON A RELATED NOTE- Sharm El Sheikh welcomed its first direct flight from London <\/strong><strong>yesterday<\/strong> after Egypt\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8abe08a4-aa5a-4489-8dc8-2b8d41fb09bb\">removal from the UK\u2019s red list<\/a> of countries which travelling to from the UK is banned, <a href=\"https:\/\/alborsaanews.com\/2021\/10\/09\/1469593\">Al Borsa<\/a> reports. Cairo also received its first Libyan Airlines flight from Tripoli in over seven years yesterday, after flights had been suspended due to political turmoil in the country, <a href=\"https:\/\/www.masrawy.com\/news\/news_egypt\/details\/2021\/10\/9\/2102870\/%D9%88%D8%B5%D9%88%D9%84-%D8%A3%D9%88%D9%84-%D8%B1%D8%AD%D9%84%D8%A9-%D9%84%D9%84%D8%AE%D8%B7%D9%88%D8%B7-%D8%A7%D9%84%D9%84%D9%8A%D8%A8%D9%8A%D8%A9-%D8%A5%D9%84%D9%89-%D9%85%D8%B7%D8%A7%D8%B1-%D8%A7%D9%84%D9%82%D8%A7%D9%87%D8%B1%D8%A9-%D8%A8%D8%B9%D8%AF-%D8%AA%D9%88%D9%82%D9%81-7-%D8%B3%D9%86%D9%88%D8%A7%D8%AA\">Masrawy<\/a>reported.<\/p><hr class=\"grey-line\"><p><strong>THE BIG STORY OVER THE WEEKEND- Is the global energy crisis hitting home? <\/strong>The Oil Ministry announced that it was raising fuel prices by around EGP 0.25 per liter on Friday amidst a global energy crisis that drove energy prices sky-high <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/11521b3f-57e8-41c8-98d5-e62e7091ce79\">last week<\/a>. We break down the new prices in this morning\u2019s Energy section. That same energy crisis, combined with kinks in the global supply chain and poor harvests in some key countries, saw equity markets plummet last week and bond yields rise.<\/p><p><strong>What\u2019s shaping up to be a global energy crisis topped headlines abroad over the <\/strong><strong>weekend as well<\/strong>, as US crude futures crossed the USD 80 per barrel line for the first time since November 2014, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-10-07\/oil-heading-for-seventh-weekly-gain-on-global-energy-squeeze?sref=mmeFTDW1\">Bloomberg<\/a> reports. Futures for December Brent crude contracts rose 0.54% on Friday to USD 82.39 \/ bbl (Brent is the global standard energy price).<\/p><p><strong>Meanwhile, the UK is still running on fumes as a shortage of petrol lingers. <\/strong>16% of filling stations in London and the Southeast of England are without fuel, the UK\u2019s Petrol Retailers Association said in a statement noted by <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-10-08\/more-fuel-stations-around-london-run-dry-before-weekend?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a>. It was at 12% on Thursday. Meanwhile, analysts are forecasting a rise in UK households' energy bills by at least 30% early next year as wholesale natural gas prices continue to surge, according to the <a href=\"https:\/\/www.ft.com\/content\/a0992398-9c1f-468c-ae8b-c434f1e3026f\">FT<\/a>.<\/p><p><strong>On another note: <\/strong>The crisis, which is gripping Europe the strongest, may have placed Vladimir Putin\u2019s Russia in a prime position to push forward its ambitions to emerge as a great energy power, but it could just be a \u201conce-off\u201d event as the world undergoes an \u201cenergy transition\u201d to greener power, Meghan L. O'Sullivan writes for <a href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2021-10-09\/europe-s-gas-crunch-isn-t-all-good-news-for-russia-and-other-producers?sref=mmeFTDW1\">Bloomberg<\/a>.<\/p><p><strong>Markets closed in the red last week: <\/strong>US and European equities rode <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/11521b3f-57e8-41c8-98d5-e62e7091ce79\">last week\u2019s<\/a> energy crisis-induced downward streak all the way to the weekend. The Dow Jones and the S&amp;P500 were down 0.71% and 0.06% respectively. Adding pressure to US equities heading into Monday is a US Labor Department jobs report showing that new jobs saw the smallest gain since December 2020, the <a href=\"https:\/\/www.wsj.com\/articles\/september-jobs-report-unemployment-rate-2021-11633641477?mod=hp_lead_pos2&amp;mod=hp_lead_pos1\">WSJ reports<\/a>. Over in Europe, the CAC fell 0.43%, while the FTSE 100 dropped 0.07% on Friday. The DAX, and Asian markets, were largely spared and closed in the green.<\/p><p><strong>SOUND SMART- It\u2019s a big day for watchers of European politics<\/strong>, where <strong>Austrian Chancellor Sebastian Kurz has <\/strong><strong><a href=\"https:\/\/www.bbc.com\/news\/world-europe-58856796\">resigned<\/a><\/strong> after being named as a suspect in an investigation into the alleged misuse of public funds. Foregn Minister Alexander Schallenberg will take over as Chancellor. <strong>Also: The Czech Republic is going to be run by Pirates. <\/strong>We kid you not: The rightwing Together coalition and the centrist PirStan coalition of <strong><a href=\"https:\/\/www.ft.com\/content\/7c220716-4905-45e2-b83c-09492386103a\">the Pirate Party<\/a><\/strong><a href=\"https:\/\/www.ft.com\/content\/7c220716-4905-45e2-b83c-09492386103a\">and the Mayors and Independents is on track to take power<\/a>.<\/p><hr class=\"grey-line\"><p><strong>SOME GOOD NEWS- Egypt moved to the top of Group F of the FIFA 2022 World Cup <\/strong><strong>qualifiers<\/strong> after beating Libya 1-0 on Friday.<\/p><p><strong>In <\/strong><strong>Karate<\/strong><strong>: <\/strong>Egyptian Olympic gold medalist Feryal AbdelAziz and Ali El Sawy were among the players to be awarded the 2021 Grand awards by the World Karate Federation, marking them as some of the best players of the season on an international level.<\/p><p><strong>***CATCH UP QUICK<\/strong> with some of the other top stories from Wednesday\u2019s edition of <strong>EnterprisePM<\/strong>:<\/p><ul>\n<li><strong>IMF urges EM policymakers to get a grip on cryptocurrencies<\/strong>: The IMF is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/591a7391-3962-4723-994b-d6eca15af6c9\">warning<\/a>EMs not to get sucked into the unregulated, Wild-West-style ecosystem that has sprung up around the cryptos, as their adoption increases there.<\/li>\n<li><strong>Ditto greenwashing: <\/strong>The IMF is calling on governments to protect investors from greenwashing in the sustainable investment industry.<\/li>\n<li><strong>Developed countries are shirking their climate duties: <\/strong>Developed economies, who pledged USD 100 bn in climate change funding, have missed their mark by around USD 10 bn.<\/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><a id=\"tldr-story-08\" class=\"content-anchor\"><\/a> <strong>MORNING MUST READ- 136 countries (including Egypt) have now signed up to a <\/strong><strong>landmark international tax agreement<\/strong> following a \u201c<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/11521b3f-57e8-41c8-98d5-e62e7091ce79\">make or break<\/a>\u201d meeting hosted by the Organisation for Economic Co-operation and Development (OECD) on Friday, according to an OECD <a href=\"https:\/\/www.oecd.org\/tax\/international-community-strikes-a-ground-breaking-tax-deal-for-the-digital-age.htm\">statement<\/a>. Formerly hesitant nations Estonia, Ireland and Hungary were persuaded to sign up to the 15% minimum rate, after 133 countries <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0d0220b3-2500-42b8-a8c1-4418a20dc63f\">agreed to the pact<\/a> over the summer. Under the agreement, companies with revenue of more than USD 125 bn will be subject to a minimum 15% corporate tax rate that is expected to generate new global tax revenues of USD 150 bn annually.<\/p><p><strong>One quarter of big multinationals\u2019 earnings will be taxed in subsidiary markets:<\/strong> the OECD said that \u201cthe winners of globalization\u201d \u2014 huge multinationals with revenues of more than EUR 20 bn \u2014 will see 25% of earnings over a 10% cap reallocated to the countries where they operate, regardless of whether they have a physical presence there. The 25% limit, which was advocated by France in <a href=\"https:\/\/www.reuters.com\/business\/finance\/france-pushes-25-target-taxing-multinationals-super-profits-2021-07-10\/\">discussions<\/a> between G20 ministers over the summer, will confer taxing rights on USD 125 bn in earnings to countries where multinationals currently pay little or no tax. The move stands to benefit emerging markets including Egypt, which <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dc4ed721-9425-47c7-a393-935435f14652\">signed on to the agreement in July<\/a>.<\/p><p><strong>The agreement is set to be formally endorsed at the G20 meeting of finance ministers in Washington DC <\/strong><strong>on 13 October<\/strong>, before being finalized at the G20 leaders\u2019 summit in Rome at the end of the month, according to the OECD.<\/p><hr class=\"grey-line\"><p><strong>Nobel Peace Prize<\/strong><strong><a href=\"https:\/\/www.nobelprize.org\/prizes\/peace\/2021\/summary\/\">awarded<\/a><\/strong><strong> to two journalists from the Philippines, Russia:<\/strong> The Nobel committee said Maria Ressa and Dmitry Andreyevich Muratov were recognized for \u201ctheir efforts to safeguard freedom of expression\u201d amid a crackdown on journalistic freedom in the two countries. Ressa, who is facing a number of court cases in the Philippines over her investigative work on the government\u2019s war on drugs, told the <a href=\"https:\/\/bit.ly\/3mUp4ZZ\">Associated Press<\/a> that she hoped the award would \u201cremind the authorities in the Philippines, Russia and around the world of the need to respect journalists and journalism.\u201d<\/p><p><strong>And the <\/strong><strong><a href=\"https:\/\/www.nobelprize.org\/prizes\/literature\/2021\/summary\/\">Nobel Prize in Literature<\/a><\/strong><strong> was awarded to Tanzanian novelist Abdulrazak Gurnah<\/strong>, for what the committee described as his \u201cuncompromising\u201d work depicting the violence, racism, and exile faced by refugees. Gurnah arrived in the UK as a <a href=\"https:\/\/www.nobelprize.org\/prizes\/literature\/2021\/bio-bibliography\/\">refugee himself in the late 1960s<\/a>. His latest book, Afterlives, was described by the <a href=\"https:\/\/www.theguardian.com\/books\/2020\/sep\/30\/afterlives-by-abdulrazak-gurnah-review-living-through-colonialism\">Guardian<\/a> as \u201ca compelling novel, one that gathers close all those who were meant to be forgotten, and refuses their erasure.\u201d<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>The<\/strong> <strong><a href=\"https:\/\/www.worldbank.org\/en\/meetings\/splash\/annual\">IMF and World Bank annual meetings<\/a><\/strong><strong> kick off tomorrow:<\/strong> The gatherings run from Monday, 11 October to Sunday, 17 October. Expect Kristalina Georgieva\u2019s continued presence at the head of the IMF to be \u2026 awkward: <strong>Georgieva\u2019s fate still hangs in the balance <\/strong>after the IMF <a href=\"https:\/\/www.ft.com\/content\/3bb6a31a-e4f2-41a2-95d5-e6940de36005\">deferred its final<\/a><a href=\"https:\/\/www.ft.com\/content\/3bb6a31a-e4f2-41a2-95d5-e6940de36005\">decision<\/a> in its investigation of her. The organization said it needs more information to rule on allegations that Georgieva pressured staff to manipulate data and make China look more business-friendly than it is in the organization\u2019s now-defunct Doing Business rankings.<\/p><p><strong>Conference season ratchets up this month<\/strong>, with a number of exhibitions and business events here and throughout the region taking place this week, including:<\/p><ul>\n<li><strong>The <\/strong><strong><a href=\"https:\/\/bit.ly\/3uCd8zg\">Turathna Exhibition<\/a><\/strong>, which kicks off today at the Egypt International Exhibition Center, Cairo, and will run until Friday, 15 October.<\/li>\n<li>The two-day <strong><a href=\"https:\/\/www.facebook.com\/events\/2882683495084674\">Mediterranean Offshore Conference<\/a><\/strong> will take place in Alexandria on Tuesday.<\/li>\n<li><strong>The <\/strong><strong><a href=\"https:\/\/www.intrafricantradefair.com\/en\">Intra-African Trade Fair 2021<\/a><\/strong> will begin on Friday, 15 October and run for six days. The event is being held at Durban, KwaZulu-Natal, South Africa.<\/li>\n<li><strong>Further down the road: <\/strong>The Middle East Angel Investment Network is hosting its <a href=\"http:\/\/mainmena.com\/conference\/4\">Angel Oasis<\/a> in El Gouna on 27-29 October, with separate pricing for in-person and virtual attendance.<\/li>\n<\/ul><p><strong>PSA- We have another long weekend coming up <\/strong>\u2014 the Prophet Muhammad\u2019s birthday falls on Monday, 18 October. We expect a three-day weekend starting Thursday, 21 October. Look for confirmation from cabinet toward the end of this week.<\/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>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-finance\/\">e-finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/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\/fuel\/\">fuel<\/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\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-ministry\/\">Oil Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/schools\/\">Schools<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-privatization-program\/\">state privatization program<\/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=\"556043\" 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=\"556043\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/556043\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556043\" class=\"content-area-description single-story post-556043 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 decoding=\"async\" data-recalc-dims=\"1\" 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=\"556044\" 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=\"556044\">\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\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/fuel-prices-are-up-by-as-much-as-3-7\/\">\r\n                            Fuel prices are up by as much as 3.7%                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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data-attachment-id=\"556045\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/fuel-prices-are-up-by-as-much-as-3-7\/99-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/99.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"99.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/99.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/99.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556044\" class=\"content-area-description single-story post-556044 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-dana-gas tag-energy tag-enterpriseam tag-fuel tag-oil-and-gas tag-oil-ministry tag-opec tag-patrick-allman-ward wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-01\" class=\"content-anchor\"><\/a> <strong>Fuel prices are up for the third time this year: <\/strong>The government\u2019s fuel pricing committee raised the price at the nation\u2019s pumps by EGP 0.25 on Friday in response to spiraling international costs, according to an Oil Ministry <a href=\"https:\/\/bit.ly\/3lquJHn\">statement<\/a>. As matters now stand:<\/p>\n<ul>\n<li>95-octane rose 2.7% to EGP 9.25 per liter, up from EGP 9.00;<\/li>\n<li>92-octane rose 3.1% to EGP 8.25, from EGP 8.00;<\/li>\n<li>80-octane rose 3.7% to EGP 7.00, from EGP 6.75.<\/li>\n<\/ul>\n<p><strong>The price for diesel remained unchanged at EGP 6.75 per liter<\/strong> \u201cto have a minimal impact on the prices of fuel and food,\u201d the statement noted.<\/p>\n<p><strong>This is the third price hike this year:<\/strong> Fuel prices are now up 8.8-12.0% so far this year after price rises in<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5afe47b0-964c-4fa8-b9de-c0e71d2fc357\">April<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cf297186-02db-44bd-9f47-ac1b4e8b9a52\">again in July<\/a>.<\/p>\n<p><strong>This is the last meeting of the fuel price committee this year.<\/strong> The committee, which meets at the beginning of every quarter, is expected to meet again in January.<\/p>\n<p><strong>The global energy crisis cometh: <\/strong>The Oil Ministry cited the rising price of Brent crude (the global oil benchmark) and a slightly stronger USD as a reason for the move. The statement comes as Brent hit a three-year high<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f33308aa-31d9-4ec1-ba19-1dd61244ee3f\">last week<\/a> after OPEC and its allies opted against raising output by more than they had originally agreed in June. This comes at a time when there is no clear picture on when supply will increase to meet rising global demand: OPEC+ is still keeping the spigots tight, Saudi Aramco says a natural gas shortage is pushing energy demand up, and the US Energy Department is signalling it will not tap local oil reserves.<\/p>\n<p><strong>Fuel price increases (along with food) have been among the most cited reasons for rising inflation by Capmas<\/strong>, with the month following July\u2019s fuel hikes seeing the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a7ce0952-23a6-4e3a-8296-21071df079fa\">highest rate<\/a> of annual urban inflation in nine months. Inflation figures for September are expected to come out today.<\/p>\n<p><strong>OTHER ENERGY NEWS-<\/strong><\/p>\n<p><strong>But hey, Dana Gas. Don\u2019t worry, we are still paying out arrears: <\/strong>Dana Gas collections from Egypt shot up 136% y-o-y to USD 125 mn in 9M2021<strong>, <\/strong>from the USD 53 mn collected in the same period last year, the company said in <a href=\"https:\/\/ent.news\/2021\/10\/20211006-Press-release-Q3-9M-collectionsss.pdf\">a press release (pdf).<\/a> \u201cContinuing timely payment of invoices and the settlement of outstanding receivables is key to providing us with the confidence to carry on with our expansion plans in the KRI [Kurdistan Region of Iraq] and Egypt,\u201d Dana Gas CEO Patrick Allman-Ward.<\/p>\n<p><strong>ALSO- The Oil Ministry has broken ground on a new natural gas pipeline in the Western <\/strong><strong>Desert <\/strong>expected to have a capacity of 15 mn cubic feet per day, the ministry said in a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/244282111075550\">statement<\/a> citing EGPC head Nabil Abdel Sadek. Abdel Sadek noted that the EGPC daily production of natgas has now reached 74k barrels of oil equivalent per day. The statement offered no further details.<\/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\/dana-gas\/\">Dana Gas<\/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\/fuel\/\">fuel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-ministry\/\">Oil Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/opec\/\">OPEC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/patrick-allman-ward\/\">Patrick Allman-Ward<\/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=\"556046\" 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=\"556046\">\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\">IPO<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/retail-subscription-period-for-e-finances-ipo-kicks-off\/\">\r\n                            Retail subscription period for e-Finance\u2019s IPO kicks off                        <\/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\/10\/retail-subscription-period-for-e-finances-ipo-kicks-off\/\" 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\/10\/retail-subscription-period-for-e-finances-ipo-kicks-off\/')\">\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\/10\/retail-subscription-period-for-e-finances-ipo-kicks-off\/\">\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=Retail subscription period for e-Finance\u2019s IPO kicks off&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/retail-subscription-period-for-e-finances-ipo-kicks-off\/\">\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\/10\/retail-subscription-period-for-e-finances-ipo-kicks-off\/&title=Retail subscription period for e-Finance\u2019s IPO kicks off\">\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=Retail+subscription+period+for+e-Finance%E2%80%99s+IPO+kicks+off+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F10%2Fretail-subscription-period-for-e-finances-ipo-kicks-off%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\/10\/retail-subscription-period-for-e-finances-ipo-kicks-off\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556046\" class=\"content-area-description single-story post-556046 post type-post status-publish format-standard hentry category-ipo-watch tag-e-finance tag-enterpriseam tag-ipo-watch tag-state-privatization-program wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>The subscription period for the retail offering of 1.61% of e-finance (25.78 mn shares) will <\/strong><strong>begin today<\/strong> and run until the close of the trading session on <strong>Sunday, 17 October<\/strong>, according to its public subscription notice (PSN).<strong> e-Finance is expected to announce on Tuesday, 12 October how it will price the offering<\/strong>. At the EGP 12.50-13.98 range outlined in its price range release, the IPO (one of the largest the country has seen in recent years) could be worth as much as EGP 3.6 bn and value e-Finance \u2014 a state-owned fintech platform and payments infrastructure company \u2014 at up to EGP 22.37 bn. The IPO will see 14.5% of the company offered to domestic and international investors. You can learn more about the transaction here, check out the PSN <a href=\"https:\/\/ent.news\/2021\/10\/Public-Subscription-Notice-PSN-AR.pdf\">here (pdf)<\/a> or visit the transaction microsite <a href=\"https:\/\/investors.efinance.com.eg\/preflight\">here<\/a>.<\/p>\n<p><strong>State privatization program (finally) gets into swing:<\/strong> e-finance is expected to be the first among five state-owned companies preparing to list on the Egyptian bourse, which according to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b90b5254-2ce1-47f0-b1a9-f1082077ef28\">Public Enterprise Minister Hisham Tawfik<\/a> should make their debuts by the end of the fiscal year in June 2022.<\/p>\n<p><strong>Other private-sector companies readying themselves to go public on the EGX will be watching e-finance\u2019s IPO closely.<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e2288438-1757-4a28-b7a4-8060a362753b\">Ebtikar<\/a> has said it could make its debut this quarter while <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/75b46198-eeb9-4f78-81cf-25219caf31c2\">Macro Group<\/a>, which postponed its IPO in April, is also waiting in the wings. EGX boss Mohamed Farid had originally expected 5-6 IPOs this year, after delays in 2020 thanks to the pandemic.<\/p>\n<p><strong>Advisors: <\/strong>Renaissance Capital, CI Capital and Al Ahly Pharos are quarterbacking the transaction as co-lead managers. NI Capital is acting as the IPO advisor for the listing. Zaki Hashem & Partners has been appointed as counsel to e-Finance, while Norton Rose Fulbright is acting as US counsel to the co-lead managers. Inktank is the investor relations advisor.<\/p>\n<p><strong>CORRECTION- We goofed on last Wednesday\u2019s EnterprisePM<\/strong> when we stated that the subscription period would end on Wednesday, 13 October.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-finance\/\">e-finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-privatization-program\/\">state privatization program<\/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=\"556047\" 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=\"556047\">\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\">Capital markets<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/how-hard-will-the-house-push-back-against-the-cgt\/\">\r\n                            How hard will the House push back against the CGT?                        <\/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\/10\/how-hard-will-the-house-push-back-against-the-cgt\/\" 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\/10\/how-hard-will-the-house-push-back-against-the-cgt\/')\">\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\/10\/how-hard-will-the-house-push-back-against-the-cgt\/\">\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=How hard will the House push back against the CGT?&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/how-hard-will-the-house-push-back-against-the-cgt\/\">\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\/10\/how-hard-will-the-house-push-back-against-the-cgt\/&title=How hard will the House push back against the CGT?\">\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=How+hard+will+the+House+push+back+against+the+CGT%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F10%2Fhow-hard-will-the-house-push-back-against-the-cgt%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\/10\/how-hard-will-the-house-push-back-against-the-cgt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556047\" class=\"content-area-description single-story post-556047 post type-post status-publish format-standard hentry category-capital-markets tag-capital-markets tag-enterpriseam tag-legislation-watch tag-tax 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>WATCH THIS SPACE- <\/strong><strong>One MP wants to turn legislators away from capital gains tax: <\/strong>House Planning and Budgeting Committee Secretary Abdelmoneim Emam has handed a briefing request to the house speaker in a bid to sway lawmakers away from reintroducing capital gains tax on the EGX, tell\u2019s <a href=\"https:\/\/ent.news\/2021\/10\/Sunday-10-Oct-2021-issue-2668-1.pdf\">Al Borsa\u2019s print edition<\/a><a href=\"https:\/\/ent.news\/2021\/10\/Sunday-10-Oct-2021-issue-2668-1.pdf\">(pdf)<\/a>. According to Emam, the tax would be tantamount to dual taxation as EGX investors are also shareholders and essentially company owners who pay corporate taxes.<\/p>\n<p><strong>The request should make it to the committee\u2019s docket next week to set a date for discussions <\/strong>that could potentially lead to legislation to scrap the tax altogether, Emam said.<\/p>\n<p><strong>Finance Minister Mohamed Maait<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fc92b9f8-5427-446f-a7dc-2960cc4d17a4\">last month confirmed<\/a> <strong>that the tax, which was postponed several times in recent years,<\/strong> would come into force on 1 January, meaning from 2022 Egypt-domiciled equity investors will start paying a 10% tax on their net portfolio earnings. Domestic investors \u2014 who presently account for the bulk of turnover on the EGX \u2014 will be the only ones on the hook for the tax after the ministry decided to exempt non-residents.<\/p>\n<p><strong>A group of 20 MPs <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3a18b5bd-6aa7-41b8-bc36-97b67821b333\">said last month<\/a><\/strong><strong> they were working on a bill aiming to postpone the tax for another year.<\/strong> The group of 20 lawmakers, led by businessman and deputy chair of the House of Representatives\u2019 industry committee Mohamed El Sallab, claimed that the proposed 10% tax on stock market transactions could deal a fatal blow to stock trading, especially that the bourse is still recovering from the impact of the pandemic. The finance industry has also pushed back, arguing along the same lines and suggesting that the tax is being introduced at an inappropriate time.<\/p>\n<p><strong>Cabinet isn\u2019t having any of it: <\/strong>Public Enterprise Minister Hisham Tawfik <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b90b5254-2ce1-47f0-b1a9-f1082077ef28\">last week downplayed<\/a> the potential negative impact of the tax on the privatization program, saying plans to push ahead with the state IPO program would be unaffected.<\/p>\n<p><strong>MPs are suggesting alternatives to the CGT:<\/strong> One is suggesting that the government levy a development fee on market transactions instead, while another wants to replace it with a stamp tax. <strong>They have yet to make clear how their alternative taxes would be more palatable<\/strong> to local investors than what Maait is pushing through.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/capital-markets\/\">capital markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/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=\"556048\" 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=\"556048\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/new-infusions-of-usd-for-state-banking-system\/\">\r\n                            New infusions of USD for state, banking system?                        <\/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\/10\/new-infusions-of-usd-for-state-banking-system\/\" 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\/10\/new-infusions-of-usd-for-state-banking-system\/')\">\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\/10\/new-infusions-of-usd-for-state-banking-system\/\">\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=New infusions of USD for state, banking system?&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/new-infusions-of-usd-for-state-banking-system\/\">\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\/10\/new-infusions-of-usd-for-state-banking-system\/&title=New infusions of USD for state, banking system?\">\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=New+infusions+of+USD+for+state%2C+banking+system%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F10%2Fnew-infusions-of-usd-for-state-banking-system%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\/10\/new-infusions-of-usd-for-state-banking-system\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556048\" class=\"content-area-description single-story post-556048 post type-post status-publish format-standard hentry category-debt-watch tag-afreximbank tag-debt tag-debt-watch tag-egyptian-general-petroleum-corporation tag-enterpriseam tag-esg wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-04\" class=\"content-anchor\"><\/a> <strong>The Madbouly government is looking to raise USD 2 bn through a three-year <\/strong><strong>syndicated facility,<\/strong> according to a Finance Ministry <a href=\"https:\/\/bit.ly\/3BsI6fY\">statement<\/a> on Friday. The loan will include ESG and Islamic finance components, with the ESG tranche set to target green projects under the Finance Ministry\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/31b21e35-54fb-47fb-a5a9-6f562de662fa\">green financing framework<\/a>, Emirates NBD, which was appointed joint global coordinator, lead arranger and bookrunner along with First Abu Dhabi Bank (FAB), said in a <a href=\"https:\/\/www.emiratesnbd.com\/en\/media-centre\/media-centre-info\/?mcid_en=974&Source=LINKEDIN_COMPANY&Medium=emirates-nbd&utm_source=LINKEDIN_COMPANYemirates-nbd&utm_content=account_id2021100720211007132720100002562651454\">statement<\/a>. The Islamic financing tranche will go towards funding budget shortfalls.<\/p>\n<p><strong>This follows the government repaying a separate year-long, USD 2 bn facility<\/strong> which also included a small Islamic finance component <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/000a6b27-901e-41be-895f-cf6ab6ee623f\">arranged last September<\/a>. That facility was also arranged through Emirates NBD and FAB, the ministry noted in the statement.<\/p>\n<p><strong>Another<\/strong><strong> USD 1 bn in financing from Afreximbank<\/strong><strong>?<\/strong> The African Export-Import Bank (Afreximbank) is currently in talks with four local banks over financing worth between USD 600 mn and USD 1 bn, Afreximbank\u2019s head of intra-African trade and corporate finance, Ayman Elzoghby, reportedly told <a href=\"https:\/\/bit.ly\/2YnA6hw\">Al Mal<\/a>. An agreement is expected to be reached soon, Elzoghby said on the sidelines of last week\u2019s preparatory conference for the <a href=\"https:\/\/www.intrafricantradefair.com\/en\">Intra-African Trade Fair 2021<\/a>, without disclosing the names of the banks or the purpose of the financing. We\u2019re reaching out to Afreximbank for comment and will report back with any updates.<\/p>\n<p><strong>Afreximbank has renewed its USD 500 mn loan with EGPC: <\/strong>The pan-African trade finance bank this year renewed financing worth some USD 500 mn to the EGPC, Elzoghby noted. The facility was disbursed by Afreximbank <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4c71dd93-c8f7-4fae-bdc7-4d7e6133eaaf\">last year<\/a> alongside the National Bank of Egypt (NBE), to help the state-owned energy company finance imports of crude oil and petroleum products.<\/p>\n<p><strong>IN OTHER DEBT NEWS-<\/strong><\/p>\n<ul>\n<li><strong>The National Bank of Egypt is issuing EGP 4.5 bn-worth of letters of guarantee<\/strong> for the three companies working on the first phase of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3eb7a66f-a839-478b-ad0b-89034e556f96\">high-speed national electric rail network<\/a> that will connect Ain Sokhna to Alamein, according to <a href=\"https:\/\/bit.ly\/3oOoq2n\">Al Shorouk<\/a>.<\/li>\n<li><strong>Suez Canal Bank will loan EFG Hermes consumer finance subsidiary Valu EGP 300 mn<\/strong> to finance the company\u2019s lending programs, sources from the bank told <a href=\"https:\/\/bit.ly\/2YEM0Ef\">Al Shorouk<\/a>.<\/li>\n<li><strong>City Edge Developments could be in line for an EGP 1 bn loan<\/strong> from NBE and the Housing and Development Bank for a hotel project in Sheikh Zayed, sources told <a href=\"https:\/\/bit.ly\/3Fr27pD\">Al Shorouk<\/a>.<\/li>\n<li><strong>Mountain View is in talks with Banque Misr for an EGP 5 bn facility <\/strong>to fund the real estate developer\u2019s projects in East and West Cairo, <a href=\"https:\/\/bit.ly\/3BH6ACp\">Al Shorouk<\/a> reported.<\/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\/afreximbank\/\">AfreximBank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-general-petroleum-corporation\/\">Egyptian General Petroleum Corporation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/esg\/\">ESG<\/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=\"556049\" 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=\"556049\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/efg-hermes-sfe-get-cabinet-signoff-on-arab-investment-bank-acquisition\/\">\r\n                            EFG Hermes, SFE get cabinet signoff on Arab Investment Bank acquisition                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/efg-hermes-sfe-get-cabinet-signoff-on-arab-investment-bank-acquisition\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/efg-hermes-sfe-get-cabinet-signoff-on-arab-investment-bank-acquisition\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/efg-hermes-sfe-get-cabinet-signoff-on-arab-investment-bank-acquisition\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=EFG Hermes, SFE get cabinet signoff on Arab Investment Bank acquisition&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/efg-hermes-sfe-get-cabinet-signoff-on-arab-investment-bank-acquisition\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/efg-hermes-sfe-get-cabinet-signoff-on-arab-investment-bank-acquisition\/&title=EFG Hermes, SFE get cabinet signoff on Arab Investment Bank acquisition\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=EFG+Hermes%2C+SFE+get+cabinet+signoff+on+Arab+Investment+Bank+acquisition+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F10%2Fefg-hermes-sfe-get-cabinet-signoff-on-arab-investment-bank-acquisition%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/efg-hermes-sfe-get-cabinet-signoff-on-arab-investment-bank-acquisition\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/103.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"556050\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/efg-hermes-sfe-get-cabinet-signoff-on-arab-investment-bank-acquisition\/103-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/103.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"103.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/103.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/103.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556049\" class=\"content-area-description single-story post-556049 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-arab-investment-bank tag-efg-hermes tag-enterpriseam tag-finance tag-investment-banking tag-ma-watch tag-sovereign-fund-of-egypt 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>M&A WATCH- EFG Hermes and the Sovereign Fund of Egypt have received <\/strong><strong>cabinet approval for their<\/strong><strong> acquisition of a 76% stake in the Arab Investment Bank (AIB)<\/strong><strong>,<\/strong> according to a decision published in the <a href=\"http:\/\/www.alamiria.com\/ar-eg\/archiving-service\/Pages\/decision-details.aspx?decisionID=169848\">Official Gazette<\/a> and <a href=\"https:\/\/bit.ly\/3BEJjk8\">picked up by the domestic press<\/a>. The two institutions acquired the shares via an EGP 3.8 bn capital increase, which raised the bank\u2019s capital to EGP 5 bn and gave EFG a 51% stake and SFE 25%. AIB's fair value was EGP 1.1 bn, according to the assessment from PricewaterhouseCoopers, which served as independent financial advisor to EFG and the SFE.<\/p>\n<p><strong>Background: <\/strong>We noted <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cc77de5f-61c1-4b22-aa22-01e558e8ca3f\">in August<\/a> that the National Investment Bank (NIB), which held a 91.4% stake in the bank, had planned to reduce its ownership to 24%, while minority shareholders with the remaining 8.6% would offload their stakes. EFG Hermes is subscribing to 423 mn newly-issued shares for EGP 6.03 per share, at a total value of EGP 2.55 bn. Meanwhile, the SFE is taking 207 mn newly issued shares at the same per-share price totalling EGP 1.25 bn. <strong>The acquisition marks Egypt\u2019s first full bank privatization in 15 years<\/strong> \u2014 and the fact that the SFE has managed to pull it off helps underscore that it\u2019s serious about public-private partnership.<\/p>\n<hr class=\"grey-line\">\n<p><strong>OTHER M&A NEWS- The National Bank of Egypt will purchase a 20% stake in mass <\/strong><strong>transport operator <\/strong><strong><a href=\"https:\/\/enterprise.press\/hardhats\/where-mowasalat-misr-fits-in-egypts-mass-transit-plans\/\">Mwasalat Misr<\/a><\/strong> through a capital increase agreed last Wednesday, according to a <a href=\"https:\/\/ent.news\/2021\/10\/NBE-Mwasalat-Misr-investment.docx.pdf\">press release (pdf)<\/a>. There was no mention of how much the state-owned giant is planning to invest. Mwasalat, which is majority-owned by Emirates National Group, operates higher-end buses along several routes in Cairo and was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/da4d397d-40ab-4057-8d11-e16fb4938949\">earlier this year<\/a> awarded a 15-year contract to take charge of bus fleets in Egypt\u2019s new cities. The company is also part of the consortium carrying out technical studies for the implementation of Cairo\u2019s <a href=\"https:\/\/enterprise.press\/hardhats\/cairos-ring-road-isnt-just-getting-wider-its-getting-a-brt-lane-heres-why-thats-a-great-idea\/\">new Bus Rapid Transit system<\/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\/arab-investment-bank\/\">Arab Investment Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/finance\/\">Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-banking\/\">investment banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-fund-of-egypt\/\">Sovereign Fund 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=\"556051\" 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=\"556051\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/whos-running-which-committee-in-the-senate\/\">\r\n                            Who\u2019s running which committee in the Senate?                        <\/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\/10\/whos-running-which-committee-in-the-senate\/\" 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\/10\/whos-running-which-committee-in-the-senate\/')\">\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\/10\/whos-running-which-committee-in-the-senate\/\">\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=Who\u2019s running which committee in the Senate?&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/whos-running-which-committee-in-the-senate\/\">\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\/10\/whos-running-which-committee-in-the-senate\/&title=Who\u2019s running which committee in the Senate?\">\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=Who%E2%80%99s+running+which+committee+in+the+Senate%3F+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F10%2Fwhos-running-which-committee-in-the-senate%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\/10\/whos-running-which-committee-in-the-senate\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/104.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"556052\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/whos-running-which-committee-in-the-senate\/104-jpg-7\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/104.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"104.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/104.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/104.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556051\" class=\"content-area-description single-story post-556051 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-enterpriseam tag-house-of-representatives tag-legislation-watch tag-politics tag-senate 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 members, heads and deputies of each of the Senate\u2019s 14 standing<\/strong> <strong>committees <\/strong><strong>were elected last week. <\/strong>The makeup of the business-relevant and national security committees are as follows:<\/p>\n<ul>\n<li><strong>Finance, Economics and Investment Affairs Committee: <\/strong>Veteran lawyer Hani Sarie El-Din was elected chairman of the committee. He will be joined by Gamal Abdel Haim and Yasser Zaki as deputies and Akmal Nagati as secretary.<\/li>\n<li><strong>Manufacturing, Trade and SMEs Committee:<\/strong> Mohamed Halawa will helm the committee and will be joined by deputies Magd El Manzelawy and Tayseer Matar and secretary Ahmed Guindy.<\/li>\n<li><strong>Energy, Environment and Manpower Committee:<\/strong> Abdel Khalek Eyad will serve as chairman and will be joined by deputies Amr Ezzat and Magdy Abdel Raheem Selim and secretary Noha Ahmed Fathy.<\/li>\n<li><strong>Housing, Local Planning and Transportation Committee: <\/strong>Khaled Mohamed Said was elected committee president. Fayez Ibrahim Mohamed and Akmal Allah Farouk are his deputies and Ahmed Sabbour will serve as secretary.<\/li>\n<li><strong>Education, Academic Research, Telecommunications and IT Committee:<\/strong> Nabil Daabis was elected president. Ahmed El Badry and Randa Mostafa will serve as deputies and Nagah Galal as secretary.<\/li>\n<li><strong>Foreign, Arab and African Affairs Committee: <\/strong>Abdel Hay Ebeid will serve as committee president. Samaa Suleiman and Effat El Sadat will be his deputies, and Aida Nassif will become committee secretary.<\/li>\n<li><strong>Defense and National Security Committee:<\/strong> Headed by Maj. Gen. Osama Kamel Montaser with deputies including Maj. Gen. Tarek Nosseir and Maj. Gen. Mohamed Gad. Maj. Gen. Khaled Fawzy will be secretary of the committee.<\/li>\n<\/ul>\n<p><strong>You can check out the full lineup of the various committees <\/strong><strong><a href=\"https:\/\/ent.news\/2021\/10\/%D9%86%D8%AA%D8%A7%D8%A6%D8%AC-%D8%A7%D9%86%D8%AA%D8%AE%D8%A7%D8%A8%D8%A7%D8%AA-%D8%A7%D9%84%D9%84%D8%AC%D8%A7%D9%86.pdf\">h<\/a><\/strong><strong><a href=\"https:\/\/ent.news\/2021\/10\/%D9%86%D8%AA%D8%A7%D8%A6%D8%AC-%D8%A7%D9%86%D8%AA%D8%AE%D8%A7%D8%A8%D8%A7%D8%AA-%D8%A7%D9%84%D9%84%D8%AC%D8%A7%D9%86.pdf\">er<\/a><\/strong><strong><a href=\"https:\/\/ent.news\/2021\/10\/%D9%86%D8%AA%D8%A7%D8%A6%D8%AC-%D8%A7%D9%86%D8%AA%D8%AE%D8%A7%D8%A8%D8%A7%D8%AA-%D8%A7%D9%84%D9%84%D8%AC%D8%A7%D9%86.pdf\">e<\/a><\/strong>.<\/p>\n<p><strong>The House elected committee heads earlier in the week. <\/strong>Our full rundown of who\u2019s running business-relevant committees in the House of Representatives is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e7427604-028e-4cb3-8901-0d7cc3fbd98f\">here<\/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\/house-of-representatives\/\">House of Representatives<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/politics\/\">politics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/senate\/\">Senate<\/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=\"556053\" 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=\"556053\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/556053\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556053\" class=\"content-area-description single-story post-556053 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 decoding=\"async\" data-recalc-dims=\"1\" 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=\"556054\" 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=\"556054\">\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\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/fuel-price-hikes-are-the-talk-of-the-town\/\">\r\n                            Fuel price hikes are the talk of the town                        <\/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\/10\/fuel-price-hikes-are-the-talk-of-the-town\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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hikes are the talk of the town&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/fuel-price-hikes-are-the-talk-of-the-town\/\">\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\/10\/fuel-price-hikes-are-the-talk-of-the-town\/&title=Fuel price hikes are the talk of the town\">\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=Fuel+price+hikes+are+the+talk+of+the+town+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F10%2Ffuel-price-hikes-are-the-talk-of-the-town%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\/10\/fuel-price-hikes-are-the-talk-of-the-town\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556054\" class=\"content-area-description single-story post-556054 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-education tag-electricity tag-energy tag-enterpriseam tag-fuel tag-last-nights-talk-shows tag-lebanon wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Friday\u2019s fuel committee decision to hike prices and the start of the 2021-2022 <\/strong><strong>academic year <\/strong>were the top two talking points on the airwaves last night. We have the full fuel story in this morning\u2019s Energy section, above, <strong>but here\u2019s what the talking heads had to say:<\/strong><\/p>\n<p><strong>The government had previously been selling petrol at a loss,<\/strong> Oil Ministry spokesperson Hamdy Abdel Aziz told Ala Mas\u2019ouleety\u2019s Ahmed Moussa (<a href=\"https:\/\/www.youtube.com\/watch?v=aGjnibDL5Yo&ab_channel=SadaElbalad-%D8%B5%D8%AF%D9%89%D8%A7%D9%84%D8%A8%D9%84%D8%AF\">watch, runtime: 19:26<\/a>). Friday\u2019s EGP 0.25 price increase brought the price at the pump back up to cost, Abdel Aziz noted, emphasizing that local fuel prices are still among the lowest in the world. Al Hayah Al Youm\u2019s Lubna Assal also had Abdel Aziz on the phone (<a href=\"https:\/\/www.youtube.com\/watch?v=2k-SIP3ilsk&ab_channel=AlHayahTVNetwork\">watch, runtime: 7:40<\/a>), while Moussa, highlighted Supply Minister Aly El Moselhy\u2019s comments that the fuel price hikes won\u2019t translate into rising commodity prices (<a href=\"https:\/\/www.youtube.com\/watch?v=9HGDKsJu5Xc&ab_channel=SadaElbalad-%D8%B5%D8%AF%D9%89%D8%A7%D9%84%D8%A8%D9%84%D8%AF\">watch, runtime: 3:15<\/a>).<\/p>\n<p><strong>The second most popular theme on the airwaves was the start of the academic year<\/strong>. Assal devoted a large segment to an interview with Ain Shams President Mahmoud El Meteiny (<a href=\"https:\/\/www.youtube.com\/watch?v=sz9i-HObfc8&ab_channel=AlHayahTVNetwork\">watch, runtime: 20:56<\/a>) while Moussa spoke to Higher Education Minister Khaled Abdel Ghaffar, who noted that life on university campuses is returning gradually to its pre-covid conditions, and that there are now some 1.2 mn jabbed students (<a href=\"https:\/\/www.youtube.com\/watch?v=FQuM_3lKlSo&ab_channel=SadaElbalad-%D8%B5%D8%AF%D9%89%D8%A7%D9%84%D8%A8%D9%84%D8%AF\">watch, runtime: 16:20<\/a>).<\/p>\n<p><strong>Over on El Hekaya, Amr Adib took a particular interest in Lebanon<\/strong>, which saw a massive power outage as state-owned electricity plants were forced to shut down yesterday due to severe shortages of fuel imports (<a href=\"https:\/\/www.youtube.com\/watch?v=7ZOnXjrmd20&ab_channel=%D8%A7%D9%84%D8%AD%D9%83%D8%A7%D9%8A%D8%A9\">watch, runtime: 3:30<\/a>). We have more on this in Around the World, below.<\/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\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/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\/fuel\/\">fuel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a 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<\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/the-foreign-press-takes-note-of-armed-forces-day\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556056\" class=\"content-area-description single-story post-556056 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-china tag-construction tag-enterpriseam tag-film tag-human-rights tag-joe-biden tag-wastewater wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It was a mixed bag out of the foreign press over the weekend:<\/strong><\/p>\n<p><strong>6 October: <\/strong>To mark Armed Forces day, a number of regional papers are giving President Anwar El Sadat his due credit on the diplomatic and economic front, including this oped from <a href=\"https:\/\/www.arabnews.com\/node\/1942181\/middle-east\">Arab News<\/a> that explored how Sadat put in motion the liberalization of Egypt\u2019s economy and reoriented foreign relations from East to West.<\/p>\n<p><strong>Infrastructure was another big theme, <\/strong>with <a href=\"https:\/\/www.al-monitor.com\/originals\/2021\/10\/egypt-inaugurates-water-plants-sinai-amid-development-plans#ixzz78VU1kvfO\">Al-Monitor<\/a> shining a light on the Bahr El Baqar wastewater treatment plant \u2014 the world\u2019s largest agricultural wastewater plant \u2014 and how it is expected to help cultivate reclaimed land in North Sinai and support the government\u2019s development ambitions in the region. Meanwhile, China\u2019s state construction firms and their projects at the New Administrative Capital, including the Iconic Tower, are getting some shine on <a href=\"https:\/\/bit.ly\/3AqnGTt\">Xinhua<\/a>.<\/p>\n<p><strong>\u2026And of course, human rights<\/strong>, where Egyptian novelist Ezzedine Fishere has an opinion piece in t<a href=\"https:\/\/www.washingtonpost.com\/opinions\/2021\/10\/07\/egypt-human-rights-strategy-sissi-biden-wild-goose-chase\/\">he Washington Post<\/a> on Egypt\u2019s recently unveiled national human rights strategy.<\/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\/construction\/\">construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/film\/\">film<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/human-rights\/\">human rights<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/joe-biden\/\">Joe Biden<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wastewater\/\">wastewater<\/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=\"556057\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556058\" 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=\"556058\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/gasc-hits-up-wheat-market-plasma-act-gets-regs\/\">\r\n                            GASC hits up wheat market + Plasma Act gets regs                        <\/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\/10\/gasc-hits-up-wheat-market-plasma-act-gets-regs\/\" 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\/10\/gasc-hits-up-wheat-market-plasma-act-gets-regs\/')\">\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\/10\/gasc-hits-up-wheat-market-plasma-act-gets-regs\/\">\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=GASC hits up wheat market + Plasma Act gets regs&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/gasc-hits-up-wheat-market-plasma-act-gets-regs\/\">\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\/10\/gasc-hits-up-wheat-market-plasma-act-gets-regs\/&title=GASC hits up wheat market + Plasma Act gets regs\">\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=GASC+hits+up+wheat+market+%2B+Plasma+Act+gets+regs+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F10%2Fgasc-hits-up-wheat-market-plasma-act-gets-regs%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\/10\/gasc-hits-up-wheat-market-plasma-act-gets-regs\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556058\" class=\"content-area-description single-story post-556058 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-enterpriseam tag-gasc tag-legislation-watch tag-wheat wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>State grain buyer GASC buys 240k mt of Russian, Romanian wheat: <\/strong>The General Authority for Supply Commodities (GASC) purchased the grain for shipment in the second half of November at an average price of USD 320.51 per mn tonnes FOB and USD 351.61\/mt CFR, according to <a href=\"https:\/\/www.agricensus.com\/Article\/Egypt-s-GASC-buys-240k-of-Russian-Romanian-wheat-at-351-61-mt-CFR-18785.html\">Fastmarkets Agricensus<\/a>. The transaction comes as high tariffs on exports impact the Russian grain trade and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/638e31d6-db6e-4d49-8cc0-312137e7c427\">imperil<\/a> one of the main supply lines for Egypt, the world\u2019s biggest wheat importer. That said, we have been relying less on Russian wheat, which accounted for just 20% of all Egyptian imports by August this season, marking a seven-year low, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-08-18\/russia-s-battle-against-inflation-erodes-its-wheat-dominance?sref=mmeFTDW1\">Bloomberg<\/a> data.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li>The National Telecoms Regulatory Authority is launching <strong>tenders to licensed <\/strong><strong>companies to set up mobile phone towers<\/strong> <a href=\"https:\/\/bit.ly\/3DlISf8\">expected (pdf)<\/a> to cost some EGP 324 mn to cover five main highways connecting between Ismailia, Suez, El Wadi El Gedeed, Aswan, Beni Suef, Minya, and Giza.<\/li>\n<li><strong>Orascom Construction will build a 525 MW solar plant in Iraq as part of a <\/strong><strong>consortium with Norway\u2019s Scatec<\/strong> and a private Iraqi company, according to an Iraqi Oil Ministry statement picked up by <a href=\"https:\/\/www.reuters.com\/article\/idUSC6N2PJ027\">Reuters<\/a> on Thursday.<\/li>\n<li><strong>The executive regulations for a <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/27467c38-a14f-45a6-8d14-125ef5d2f3bd\">law<\/a><\/strong><strong>regulating the manufacturing and <\/strong><strong>collection of plasma<\/strong> were issued on Thursday, <a href=\"https:\/\/bit.ly\/3uZyw1M\">Youm 7 reported<\/a>.<\/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\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gasc\/\">GASC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/wheat\/\">wheat<\/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=\"556059\" 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=\"556059\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/moderna-to-build-a-usd-500-mn-vaccine-facility-in-africa\/\">\r\n                            Moderna to build a USD 500 mn vaccine facility in Africa                        <\/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\/10\/moderna-to-build-a-usd-500-mn-vaccine-facility-in-africa\/\" 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\/10\/moderna-to-build-a-usd-500-mn-vaccine-facility-in-africa\/')\">\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\/10\/moderna-to-build-a-usd-500-mn-vaccine-facility-in-africa\/\">\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=Moderna to build a USD 500 mn vaccine facility in Africa&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/moderna-to-build-a-usd-500-mn-vaccine-facility-in-africa\/\">\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\/10\/moderna-to-build-a-usd-500-mn-vaccine-facility-in-africa\/&title=Moderna to build a USD 500 mn vaccine facility in Africa\">\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=Moderna+to+build+a+USD+500+mn+vaccine+facility+in+Africa+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F10%2Fmoderna-to-build-a-usd-500-mn-vaccine-facility-in-africa%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\/10\/moderna-to-build-a-usd-500-mn-vaccine-facility-in-africa\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556059\" class=\"content-area-description single-story post-556059 post type-post status-publish format-standard hentry category-covid-watch tag-africa tag-covax tag-covid-19 tag-enterpriseam tag-italy tag-moderna wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/photo\/?fbid=179193677725188&set=a.113299807647909\">reported<\/a><\/strong> <strong>831 new covid-19 infections yesterday<\/strong>, up from 811 the day before. Egypt has now disclosed a total of 262,654 confirmed cases of covid-19. The ministry also reported 39 new deaths, bringing the country\u2019s total death toll to 17,658.<\/p>\n<p><strong>Moderna wants to set up a USD 500 mn mRNA facility in Africa <\/strong>with an annual production capacity of up to 500 mn vaccine doses, the biotech company <a href=\"https:\/\/ent.news\/2021\/10\/Moderna-to-Build-State-of-the-Art-mRNA-Facility-in-Africa-to-Manufacture-up-to-500-Million-Doses-Per-Year.pdf\">announced in a statement<\/a> on Thursday. This is equal to the total number of vaccines that Moderna have so far supplied.<\/p>\n<p><strong>Italy will donate 45 mn doses to Africa in addition to providing funding of EUR <\/strong><strong>345 mn to the Covax program this year<\/strong>, Italian Foreign Minister Luigi Di Maio said in his closing <a href=\"https:\/\/ent.news\/2021\/10\/bozza_di_discorso_plenaria.pdf\">speech<\/a> of third edition of Italy-Africa Ministerial Conference that <a href=\"https:\/\/twitter.com\/ItalyMFA\/status\/1446551655567265809\">took place on Friday<\/a>. There was no mention of Egypt as far as we can gather.<\/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\/africa\/\">Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covax\/\">Covax<\/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\/italy\/\">Italy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moderna\/\">Moderna<\/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=\"556060\" 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=\"556060\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/eu-green-bonds-expected-to-smash-demand-records-in-coming-weeks\/\">\r\n                            EU green bonds expected to smash demand records in coming weeks                        <\/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\/10\/eu-green-bonds-expected-to-smash-demand-records-in-coming-weeks\/\" 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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Banks are expecting a total of up to EUR 15 bn to be offered in 15-year and 30-year bonds, in the first tranche of a larger plan to offer up to EUR 250 bn, making the EU the world\u2019s leading green borrower and pumping investment into member countries\u2019 transition to renewables. High demand will mean high premiums (\u201cgreeniums\u201d) making the bonds more attractive to banks and reserve managers already looking to boost their ESG credentials.<\/p><p><strong>Yet another BTC rally: <\/strong>As equities stumbled and energy soared against a backdrop of inflationary pressures last week, Bitcoin prices rose about 10% on Friday to log the cryptocurrency\u2019s best week since early August. Bitcoin recovered from the threat of a Chinese regulatory crackdown to increase its YTD gains to 87%, buoyed by better news on increased institutional adoption in the US.<\/p><p><strong>But the rally\u2019s biggest driver is inflation<\/strong>, analysts told <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-10-08\/bitcoin-s-incredible-rally-spurs-biggest-weekly-gain-in-months?sref=mmeFTDW1\">Bloomberg<\/a>. Bitcoin is now competing with gold among institutional investors as a hedge against wider price hikes. \u201cBitcoin has really taken the place of gold in a lot of people\u2019s hearts and minds and portfolios,\u201d said one chief investment officer.<\/p><p><strong>The Saudis move into the Premier League:<\/strong> Saudi Arabia\u2019s sovereign Public Investment Fund <a href=\"https:\/\/www.pif.gov.sa\/ar\/Pages\/NewsDetails.aspx?NewsId=202\">announced<\/a> on Wednesday that it had acquired a 100% stake in Newcastle United, in a consortium with PCP Capital Partners and RB Sports &amp; Media The move has been at least a year in the making, when its bid to acquire the team was first rejected by the Premier League over its trade dispute with Qatar over the broadcast rights of football games in the Middle East during their falling out (remember BeOUT?). Clearing the dispute had paved the way for the current acquisition.<\/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>10536.39<\/p>\n<\/td>\n<td>\n<p>+1% (YTD: -2.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>11,591.33<\/p>\n<\/td>\n<td>\n<p>+0.2% (YTD: +33.4%)<\/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>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>7,709.35<\/p>\n<\/td>\n<td>\n<p>+0.7% (YTD: +52.8%)<\/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>2,772.44<\/p>\n<\/td>\n<td>\n<p>+0.8% (YTD: +11.25%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,391.34<\/p>\n<\/td>\n<td>\n<p>-0.2% (YTD: +16.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,095.55<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: +9.8%)<\/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 82.39<\/p>\n<\/td>\n<td>\n<p>+0.5%<\/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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 5.57<\/p>\n<\/td>\n<td>\n<p>-2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,757.40<\/p>\n<\/td>\n<td>\n<p>-0.1%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 54,916.20<\/p>\n<\/td>\n<td>\n<p>+1.49% (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 1.0% at Wednesday's close<\/strong> on turnover of EGP 1.14 bn (26.4% below the 90-day average). Foreign investors were net sellers. The index is down 2.9% YTD.<\/p><p><strong>In the green: <\/strong>Sidi Kerir Petrochem (+3.0%), Orascom Development Egypt (+2.7%) and CIB (+2.4%).<\/p><p><strong>In the red: <\/strong>Telecom Egypt (-3.4%), ElSewedy Electric (-1.9%) and Rameda (-1.5%).<\/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\/cryptocurrency\/\">cryptocurrency<\/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\/green-bonds\/\">green bonds<\/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\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/treasuries\/\">treasuries<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556061\" 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=\"556061\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/lebanon-faces-days-long-power-outage-as-jordan-says-it-will-send-electricity-by-years-end\/\">\r\n                            Lebanon faces days long power outage as Jordan says it will send electricity by year\u2019s end                        <\/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\/10\/lebanon-faces-days-long-power-outage-as-jordan-says-it-will-send-electricity-by-years-end\/\" 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\/10\/lebanon-faces-days-long-power-outage-as-jordan-says-it-will-send-electricity-by-years-end\/')\">\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\/10\/lebanon-faces-days-long-power-outage-as-jordan-says-it-will-send-electricity-by-years-end\/\">\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=Lebanon faces days long power outage as Jordan says it will send electricity by year\u2019s end&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/lebanon-faces-days-long-power-outage-as-jordan-says-it-will-send-electricity-by-years-end\/\">\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\/10\/lebanon-faces-days-long-power-outage-as-jordan-says-it-will-send-electricity-by-years-end\/&title=Lebanon faces days long power outage as Jordan says it will send electricity by year\u2019s end\">\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=Lebanon+faces+days+long+power+outage+as+Jordan+says+it+will+send+electricity+by+year%E2%80%99s+end+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F10%2Flebanon-faces-days-long-power-outage-as-jordan-says-it-will-send-electricity-by-years-end%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\/10\/lebanon-faces-days-long-power-outage-as-jordan-says-it-will-send-electricity-by-years-end\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556061\" class=\"content-area-description single-story post-556061 post type-post status-publish format-standard hentry category-around-the-world tag-around-the-world tag-electricity tag-energy tag-enterpriseam tag-jordan tag-lebanon wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Lebanon\u2019s energy crunch has forced it to shut down its two main state-owned <\/strong><strong>electricity plants,<\/strong> the public electricity company said yesterday, according to <a href=\"https:\/\/bit.ly\/3FyfZ1m\">Sky News Arabia<\/a>. This left large parts of the country with no power, with the outage likely to last until Monday, a Lebanese official told <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/lebanese-power-outage-will-last-few-days-government-official-2021-10-09\/\">Reuters<\/a>. Egypt has been putting <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/95dc3ac0-5700-4fb2-924a-df890326c86b\">the final touches<\/a> on an agreement to supply Lebanon with natural gas via a pipeline running through Jordan and Syria as the country seeks to mitigate shortages of fuel imports, and expects to have gas flowing within weeks. <strong>The agreement also involves using Egyptian natural gas to generate electricity within Jordan<\/strong> to transmit directly to Lebanon, with Jordan\u2019s energy minister saying the country hopes to start transmitting the power by year\u2019s end, <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/jordan-aims-supply-lebanon-with-electricity-by-year-end-minister-2021-10-07\/\">Reuters<\/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\/around-the-world\/\">Around the World<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/electricity\/\">electricity<\/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\/jordan\/\">Jordan<\/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=\"556062\" 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\/10\/your-essential-business-calendar-on-10-october-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556062\" class=\"content-area-description single-story post-556062 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>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>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>13 October (Wednesday): Meeting of <a href=\"https:\/\/www.bancaditalia.it\/media\/notizia\/4th-g20-finance-ministers-and-central-bank-governors-washington-meeting-13-october-2021\/?com.dotmarketing.htmlpage.language=1\">G20 Finance Ministers and Central Bank Governors<\/a>, Washington DC, <sup><\/sup>US.<\/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>30-31 October <sup><\/sup>(Saturday-Sunday): <a href=\"http:\/\/sdg.iisd.org\/events\/g20-leaders-summit-2021\/\">G20 Leaders\u2019 Summit<\/a>, Rome, Italy.<\/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. We distinguish below between the actual holiday and its observance.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":556041,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-556040","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"5187c31e-8bc1-491d-9d57-96645e221cee","teaser":"","photo_url":"https:\/\/ent.news\/2021\/10\/98.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Enterprise Fuel prices are up at the pump as the global energy crisis hits home - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/enterprise-fuel-prices-are-up-at-the-pump-as-the-global-energy-crisis-hits-home\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Enterprise Fuel prices are up at the pump as the global energy crisis hits home\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/enterprise-fuel-prices-are-up-at-the-pump-as-the-global-energy-crisis-hits-home\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T01:08:31+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/98.jpg?fit=%2C&ssl=1\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/enterprise-fuel-prices-are-up-at-the-pump-as-the-global-energy-crisis-hits-home\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/enterprise-fuel-prices-are-up-at-the-pump-as-the-global-energy-crisis-hits-home\/\",\"name\":\"Enterprise Fuel prices are up at the pump as the global energy crisis hits home - 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