{"id":556175,"date":"2021-10-14T04:06:30","date_gmt":"2021-10-14T04:06:30","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=556175"},"modified":"2025-12-16T01:11:49","modified_gmt":"2025-12-16T01:11:49","slug":"enterprise%d9%90-we-go-one-on-one-with-the-finance-ministrys-ahmed-kouchouk-in-part-1-its-all-about-debt","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/enterprise%d9%90-we-go-one-on-one-with-the-finance-ministrys-ahmed-kouchouk-in-part-1-its-all-about-debt\/","title":{"rendered":"Enterprise\u0650 We go one on one with the Finance Ministry\u2019s Ahmed Kouchouk. In part 1, it\u2019s all about debt."},"content":{"rendered":"<section id=\"556177\" 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=\"556177\">\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\/14\/this-morning-unnamed-strategic-investor-eyeing-big-chunk-of-e-finance-ipo-plus-egypts-banks-are-adopting-the-tax-authoritys-e-invoicing-system\/\">\r\n                            THIS MORNING: Unnamed strategic investor eyeing big chunk of e-Finance IPO? Plus: Egypt\u2019s banks are adopting the Tax Authority\u2019s e-invoicing 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\/14\/this-morning-unnamed-strategic-investor-eyeing-big-chunk-of-e-finance-ipo-plus-egypts-banks-are-adopting-the-tax-authoritys-e-invoicing-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\/14\/this-morning-unnamed-strategic-investor-eyeing-big-chunk-of-e-finance-ipo-plus-egypts-banks-are-adopting-the-tax-authoritys-e-invoicing-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\/14\/this-morning-unnamed-strategic-investor-eyeing-big-chunk-of-e-finance-ipo-plus-egypts-banks-are-adopting-the-tax-authoritys-e-invoicing-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=THIS MORNING: Unnamed strategic investor eyeing big chunk of e-Finance IPO? Plus: Egypt\u2019s banks are adopting the Tax Authority\u2019s e-invoicing system.&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/this-morning-unnamed-strategic-investor-eyeing-big-chunk-of-e-finance-ipo-plus-egypts-banks-are-adopting-the-tax-authoritys-e-invoicing-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\/14\/this-morning-unnamed-strategic-investor-eyeing-big-chunk-of-e-finance-ipo-plus-egypts-banks-are-adopting-the-tax-authoritys-e-invoicing-system\/&title=THIS MORNING: Unnamed strategic investor eyeing big chunk of e-Finance IPO? Plus: Egypt\u2019s banks are adopting the Tax Authority\u2019s e-invoicing 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=THIS+MORNING%3A+Unnamed+strategic+investor+eyeing+big+chunk+of+e-Finance+IPO%3F+Plus%3A+Egypt%E2%80%99s+banks+are+adopting+the+Tax+Authority%E2%80%99s+e-invoicing+system.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F14%2Fthis-morning-unnamed-strategic-investor-eyeing-big-chunk-of-e-finance-ipo-plus-egypts-banks-are-adopting-the-tax-authoritys-e-invoicing-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\/14\/this-morning-unnamed-strategic-investor-eyeing-big-chunk-of-e-finance-ipo-plus-egypts-banks-are-adopting-the-tax-authoritys-e-invoicing-system\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556177\" class=\"content-area-description single-story post-556177 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-aci tag-e-finance tag-egx tag-el-gouna-film-festival tag-enterpriseam tag-ipo-watch tag-tax tag-tax-authority tag-us tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Good morning, everyone, and welcome to the final workday of week 41 <\/strong>in this crazy year. We have an exceptionally busy issue for you this morning, so let\u2019s jump right in:<\/p><p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>IPO WATCH- An unnamed strategic investor is after 10% of the shares e-Finance is<\/strong> <strong>offering on the EGX<\/strong> and has formally made an offer to the lead manager, <a href=\"https:\/\/alborsaanews.com\/2021\/10\/14\/1471370\">Al Borsa<\/a> reported, citing sources it says are close to the matter. The state-owned company kicked off the subscription period for the retail offering of its IPO on Sunday and is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c9f32cf0-5cd2-4c05-b43d-461c051dab1d\">pricing it<\/a> EGP 13.98 per share, the top end of the EGP 12.50-13.98 range on which it had guided. The subscription period for the retail offering \u2014 which is due to wrap up next Sunday, 17 October \u2014 is already 4.5x oversubscribed, the sources said. e-Finance has already bumped up the size of the offering, apparently in response to significant demand from institutional investors.<\/p><p><strong>Egypt\u2019s banks will adopt the Tax Authority\u2019s e-invoicing system<\/strong>, the Finance Ministry said <a href=\"https:\/\/bit.ly\/3veZ8f9\">in a statement<\/a> yesterday. The system has been up and running since <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/99a6ca73-945a-43a8-9bb3-70e01e484a6c\">November 2020<\/a>, when its first phase started, with 134 companies logging their invoices electronically to the Finance Ministry\u2019s platform as part of the ministry\u2019s efforts to clamp down on tax evasion and compel companies that have not registered with the Tax Authority to do so. We were previously told that all tax-paying companies would be enrolled in the system by April 2023.<\/p><p><strong>PSA #1- We\u2019re getting a long weekend next week. <\/strong>The prime minister\u2019s office has <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/247855964051498?__cft__%5B0%5D=AZX_DFginPcanPf6FOal6wTQKHcrP2JE7Mb9tor6vFLZGqOhiZrKpPIUbWoc9eFE4QZPVKmsEn_w0x7XwYObRxrvI0WdUXE9fVSvRJXg8ADaf-U9MN8a4OpcQeSt1liIqyqQF-SbEDfN_EzYl2cPKvpj&amp;__tn__=%2CO%2CP-R\">confirmed<\/a><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/247855964051498?__cft__%5B0%5D=AZX_DFginPcanPf6FOal6wTQKHcrP2JE7Mb9tor6vFLZGqOhiZrKpPIUbWoc9eFE4QZPVKmsEn_w0x7XwYObRxrvI0WdUXE9fVSvRJXg8ADaf-U9MN8a4OpcQeSt1liIqyqQF-SbEDfN_EzYl2cPKvpj&amp;__tn__=%2CO%2CP-R\">the p<\/a><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/247855964051498?__cft__%5B0%5D=AZX_DFginPcanPf6FOal6wTQKHcrP2JE7Mb9tor6vFLZGqOhiZrKpPIUbWoc9eFE4QZPVKmsEn_w0x7XwYObRxrvI0WdUXE9fVSvRJXg8ADaf-U9MN8a4OpcQeSt1liIqyqQF-SbEDfN_EzYl2cPKvpj&amp;__tn__=%2CO%2CP-R\">ublic sector officially off<\/a> on Thursday, 21 October off in observance of Prophet Muhammad\u2019s Birthday, which falls on Monday, 18 October. That means you can expect word from the EGX and the Central Bank of Egypt in the coming couple of days declaring that next Thursday is a holiday for Planet Finance, too.<\/p><p><strong>PSA #2- Exporters using CargoX to ship goods into Egypt will now pay a flat fee of USD <\/strong><strong>150 to upload ACI shipping documents <\/strong>after the Egyptian government <a href=\"https:\/\/alborsaanews.com\/2021\/10\/13\/1471321\">reached an agreement<\/a> with the platform, which had been mulling raising the minimum fee to USD 400. CargoX is the sole blockchain document transfer gateway service provider for the newly-implemented Advance Cargo Information (ACI) system, which became mandatory for importers to use at the beginning of the month.<\/p><p><strong>CONGRATS to our friends at <\/strong><strong><a href=\"https:\/\/www.dawiclinics.com\/en\/\">Dawi Clinics<\/a><\/strong>, which has just opened its first branch in Suez. That makes it the fifth governorate and thirteenth branch for the fast-growing primary care company. Dawi\u2019s CEO is Magda Habib (<a href=\"https:\/\/www.linkedin.com\/in\/magda-habib-5a8a4727\/\">LinkedIn<\/a>), who gave us our start in business back in the day.<\/p><p><strong>HAPPENING TODAY- <\/strong><\/p><p><strong>Shoukry to hold talks with US Senator Menendez, UN Syria envoy: <\/strong>Foreign Minister Sameh Shoukry <a href=\"https:\/\/bit.ly\/3vd4Tds\">will sit down<\/a> with <strong>Bob Menendez<\/strong>, the chairman of the powerful US Senate Foreign Relations Committee, and United Nations Special Envoy for Syria <strong>Geir Otto Pedersen<\/strong>, who are both in town today. Expect Egypt-US relations and regional political affairs to feature heavily on the agenda.<\/p><p><strong><a href=\"http:\/\/elgounafilmfestival.com\/\">El Gouna Film Festival<\/a><\/strong><strong> kicks off later today and will run until 22 October, <\/strong>despite <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0c04ea4a-23e9-4e77-b626-d8ea8ae35ab7\">a fire that<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0c04ea4a-23e9-4e77-b626-d8ea8ae35ab7\">broke out<\/a> in a section of the Gouna Film Festival Plaza yesterday in which there were no fatalities. At least eight people were hospitalized to be treated for smoke inhalation. Only one section of the festival plaza was damaged, and that the event should proceed as planned, . festival organizers <a href=\"https:\/\/www.facebook.com\/ElGounaFilmFestival\/videos\/986667191878487\/\">said<\/a>. This edition of the event promises to bring together a selection of international narrative, documentary, and avante garde films. You can check out the full program <a href=\"http:\/\/elgounafilmfestival.com\/program-guide\">here<\/a>.<\/p><div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br>\n        <\/h4>\n<\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/p><\/div>\n<\/div>\n<\/div><p><strong>** CATCH UP QUICK<\/strong> with the top stories from yesterday\u2019s edition of EnterprisePM:<\/p><ul>\n<li><strong>The benchmark EGX30 is <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/59027cd4-c47c-4175-a90e-d3af5ef29ef2\">back in the green<\/a><\/strong><strong> for 2021 YTD <\/strong>after gaining 0.9% yesterday, marking the seventh consecutive session in which the benchmark index posted gains.<\/li>\n<li><strong>US inflation <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0c04ea4a-23e9-4e77-b626-d8ea8ae35ab7\">accelerated in September<\/a><\/strong><strong> to 5.4%<\/strong> as both supply and labour shortages continued to drive up prices.<\/li>\n<li><strong>The green energy transition is gaining pace \u2014 but not enough to avert catastrophic warming<\/strong>, according to the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a7606849-d21c-4d48-bb95-df7a3adcf80d\">International Energy Agency<\/a>.<\/li>\n<\/ul><p><strong>THE BIG STORY ABROAD- <\/strong><strong>It\u2019s a dog\u2019s breakfast in the global business press. <\/strong>CNBC is leading with the US Fed\u2019s latest meeting minutes, released yesterday, which say that the central bank could <a href=\"https:\/\/www.cnbc.com\/2021\/10\/13\/federal-reserve-releases-minutes-from-its-september-policy-meeting.html\">start tapering its stimulus program as early as next month<\/a>. The Financial Times explains that China Evergrande\u2019s meltdown is <a href=\"https:\/\/www.ft.com\/content\/b8effeb7-e553-4bb1-8ece-a610fcbcdbb2\">locking other Chinese developers out of the global debt market<\/a>, and the Wall Street Journal is still leading with yesterday\u2019s <a href=\"https:\/\/www.wsj.com\/articles\/us-inflation-consumer-price-index-september-2021-11634074529?mod=hp_lead_pos1\">September inflation numbers<\/a> in the US. Reuters, meanwhile, has more on US President <a href=\"https:\/\/www.reuters.com\/world\/us\/biden-cite-progress-unsnarling-supply-chain-meeting-with-labor-industry-2021-10-13\/\">Joe Biden\u2019s bid to debottleneck part of the supply chain<\/a> by having big retailers and logistics companies work 24\/7 in ports to clear backlogs.<\/p><p><strong>PSA #3- For Trekkies: William Shatner survived becoming the oldest person to ever reach <\/strong><strong>the final frontier<\/strong> after Jeff Bezos <a href=\"https:\/\/edition.cnn.com\/2021\/10\/13\/tech\/william-shatner-space-blue-origin-everything-you-need-to-know-scn\/index.html\">shot him to to the edge of space<\/a> on Blue Origin\u2019s latest tourism flight.<\/p><p><strong>MARKET WATCH-<\/strong><\/p><p><strong>US earnings<\/strong><strong> season has kicked off with signs that banks may be immune to the storm:<\/strong> JPMorgan Chase brushed off <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8e23d902-42a6-45b3-a9d3-aa195d9a5c87\">talk of an earnings squeeze<\/a> in the banking sector as it <a href=\"https:\/\/ent.news\/2021\/10\/JP-Morgan-Chase-Q3-Earnings-2021.pdf\">posted<\/a> a bumper USD 11.7 bn bottom line, well exceeding analysts\u2019 forecast of USD 9.4 bn, the <a href=\"https:\/\/www.ft.com\/content\/a5fa2ba2-1fdf-4a55-a500-fdb0e7cba8e6\">FT<\/a> reports. The strong start to 3Q earnings season in Amreeka suggests banks may have so far escaped the worst of the supply-chain disruption and price rises that have dented other sectors. \u201cUnderlying everything, we\u2019re still seeing a strong consumer, strong businesses, a lot of capital, a lot of credit,\u201d JP Morgan chief exec Jamie Dimon told reporters.<\/p><p><strong>Expect to learn more today and tomorrow. <\/strong>Bank of America, Citigroup, and Morgan Stanley are up today, while Goldman Sachs is due to release its financials tomorrow.<\/p><p><strong>CLOSER TO HOME- Erdogan issued a decree overnight sacking three members of the <\/strong><strong>central bank\u2019s interest rate committee <\/strong>after meeting with captive bank governor Sahap Kavcioglu last night. \u201cThe changes rid the committee of members who disagreed with Erdogan\u2019s calls to continue cutting interest rates,\u201d <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-10-13\/turkey-s-erdogan-meets-central-bank-governor-after-lira-rout\">Bloomberg notes<\/a>, reminding us all that the nutter in Ankara has declared himself an \u201cenemy\u201d of interest rates. <strong>The news pushed the TRY to a a new record low overnight <\/strong>against the USD.<\/p><p><strong>Also not helping: <\/strong><strong>Currency exchange bureaus in Turkey will now be required to <\/strong><strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-10-13\/lira-sellers-to-be-stripped-of-anonymity-under-new-turkish-rules\">record<\/a><\/strong><strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-10-13\/lira-sellers-to-be-stripped-of-anonymity-under-new-turkish-rules\">their clients\u2019 personal information<\/a><\/strong><strong>.<\/strong> Erdogan\u2019s Finance Ministry claims the rules, which previously only applied to amounts over USD 3k, are not a sign he\u2019s meddling in the FX market.<\/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\/aci\/\">ACI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/e-finance\/\">e-finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/el-gouna-film-festival\/\">El Gouna Film Festival<\/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\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax-authority\/\">Tax Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556178\" 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=\"556178\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/556178\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556178\" class=\"content-area-description single-story post-556178 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/somabay.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/Enterprise-Visual-Somabay-Golf-26-sep-21-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\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=\"556179\" 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=\"556179\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/the-egyptian-government-to-look-at-markets-again-in-feb-march\/\">\r\n                            The Egyptian government to look at markets again in Feb, March                        <\/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\/14\/the-egyptian-government-to-look-at-markets-again-in-feb-march\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n   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alt=\"\" data-attachment-id=\"556180\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/the-egyptian-government-to-look-at-markets-again-in-feb-march\/154-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/154.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"154.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/154.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/154.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556179\" class=\"content-area-description single-story post-556179 post type-post status-publish format-standard has-post-thumbnail hentry category-economy tag-ahmed-kouchouk tag-debt tag-economy tag-enterpriseam tag-euroclear wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>EXCLUSIVE-<\/strong> <strong>How 2022 could be a big year for Egyptian debt, according to<\/strong><strong> FinMin\u2019s <\/strong><strong>Ahmed Kouchouk: <\/strong>Through a mixture of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/66724a50-27e6-41fe-a59a-1f073481f1c0\">stimulus funding, tax breaks<\/a>, high interest rates, timely <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/925263b4-1bc7-4df7-bcdc-3335f83063f0\">eurobond issuances<\/a>, and the adoption of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/322b1f8e-fc8d-442f-957c-c66632dfe443\">new debt instruments<\/a> (namely, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5d1b54d5-5efa-41c9-ac8b-728b105b2ef0\">green bonds<\/a>), Egypt was largely shielded from from the heaviest macroeconomic blows of the pandemic last year. While GDP growth came in at just 3.6% in 2020 according to the IMF <a href=\"https:\/\/ent.news\/2021\/10\/World-Economic-Outlook-Oct-2021-IMF.pdf\">(pdf, see page 40)<\/a>, we outpaced the global economy (where growth came in at <em>negative <\/em>3.1% in 2020) and our emerging market peers (where GDP contracted 2.1% in 2020), according to data from the IMF (<a href=\"https:\/\/ent.news\/2021\/10\/World-Economic-Outlook-Oct-2021-IMF.pdf\">pdf<\/a>).<\/p>\n<p><strong>The landscape in 2021 is changing<\/strong>, however, as the world attempts a post-pandemic recovery. High inflation globally and here at home is adding new impetus to policymakers\u2019 push to taper stimulus and raise interest rates. The most prominent of which is the Fed, which hinted <a href=\"https:\/\/www.wsj.com\/articles\/fed-tees-up-taper-and-signals-rate-rises-possible-next-year-11632333617\">last month<\/a>that it could start to wind down its asset-purchase program in November and raise interest rates as soon as next year. This puts emerging-market debt \u2014 including ours \u2014 at risk of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bfb6452e-477a-4ba8-8672-08d0cd9cb0aa\">becoming less attractive<\/a> to foreign investors.<\/p>\n<p><strong>In Part 1 of our exclusive interview with Vice Minister of Finance Ahmed Kouchouk<\/strong> we take a look at how Egypt\u2019s debt policy is adapting to the times. Below are edited excerpts of our conversation:<\/p>\n<p><strong>Look to 1Q2022 for our next eurobond sale: <\/strong>Egypt will be looking to tap international debt markets again in February or March 2022, Kouchouk tells us. This comes on the back of Egypt\u2019s successful USD 3 bn eurobond sale <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3bac1988-3ad3-472c-94b4-3f1bc54bb126\">last month<\/a>, which was 3x oversubscribed. Egypt\u2019s previous eurobond sale saw us net USD 3.75 bn and was 4x oversubscribed.<\/p>\n<p><strong>\u2026and 2Q2022 for our maiden sovereign sukuk sale?<\/strong> While Kouchouk did not outright reveal the exact timing of when Egypt will kick off our first sovereign sukuk sale, he did state that we should be \u201cprocedurally\u201d ready to go some time in 2Q2022. The government is currently on track to complete the procedures required to issue sovereign sukuks under the new <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/313e24e6-8f1d-4488-a186-a289b2b09c62\">Sovereign Sukuk Act<\/a>, which include setting up the Sovereign Sukuk Company, a joint stock company to execute and manage sales.<\/p>\n<p><strong>Size of the issuance is still a mystery: <\/strong>Kouchouk did not disclose how big our sovereign sukuk issuance would be, but Finance Minister Mohamed Maait had hinted <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c97c3bfe-32d0-4050-a462-63cf9840b6b7\">earlier this month<\/a> that it could be in the range of USD 500 mn.<\/p>\n<p><strong>Green bonds are so last year. Hello, development bonds: <\/strong>\u201cWe are currently in talks with banks and international institutions to expand the framework of our sovereign green bonds into more comprehensive development bonds,\u201d Kouchouk tells us. They include social bonds (bonds used to fund social infrastructure) and blue bonds (for water projects) and others. \u201cWe were encouraged to expand the framework after our success in the green debt market,\u201d which has grown globally to USD 300-400 bn, he noted.<\/p>\n<p><strong>2022 could also likely be the year of the Fed\u2019s stimulus tapering. What can we expect?<\/strong> Should the Fed decide to raise interest rates, it could trigger some volatility in global markets in the medium term, Kouchouk said.<\/p>\n<p><strong>Stay calm, and borrow on: <\/strong>Fiscally, we are in a good position to adapt to a decision by the US Federal Reserve and we should withstand any emerging market shocks and sellofs that could result from such a decision, Kouchouk noted. Our successful bond issuances, which have garnered plenty of interest from investors, have drawn enough inflows to cushion us from these shocks.<\/p>\n<p><strong>But we must remain vigilant: <\/strong>\u201cWe\u2019re also constantly monitoring the potential effects of rising US rates on Egypt\u2019s borrowing costs as well as any indicators on when the Fed might proceed with its tapering,\u201d Kouchouk says. That is evident from the timing of last month\u2019s eurobond issuance, which followed the Fed\u2019s statement that it could wind down its asset-purchase program in November, he noted.<\/p>\n<p><strong>How strong is this cushion? Foreign holdings of Egypt\u2019s debt currently sits at around USD 30 bn,<\/strong> Kouchouk tells us.<\/p>\n<p><strong>And we can look forward to more inflows as a result of our inclusion in the JP Morgan and FTSE Russell indices<\/strong>, he noted. (More on that below.)<\/p>\n<p><strong>When should we expect our debt to become \u2018Euroclearable\u2019?<\/strong> There is no specific date yet on when our bonds can be Euroclearable, Kouchouk says. Travel restrictions to Egypt had been the reason behind the hold up in the process. \u201cFor our part, we have completed all the procedures,\u201d Kouchouk continued. Last month, it was reported that the Finance Ministry will likely miss its target of making local Egyptian debt \u201cEuroclearable\u201d by November. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/77f1fef1-7022-4da7-a44e-d3ae01256eac\">The government was originally expecting<\/a> to have wrapped up technical discussions with Euroclear <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/95e658a0-969e-43ad-84b1-5ad3188839e2\">between September and November<\/a> but according to statements made by Finance Minister Mohamed Maait yesterday it may now have to wait until 2022.<\/p>\n<p><strong>So, with all this borrowing, what does this mean for our debt reduction strategy?<\/strong> \u201cWe remain steadfast in reducing our debt service burden to 32% of our expenditures in the coming years from a current 38%,\u201d Kouchouk notes.<\/p>\n<p><strong>IN PART 2, Kouchouk reveals what the Finance Ministry has in store for the private sector<\/strong>, from taxation policies, to export subsidies, to incentives and the Economic Reform Program 2.0. Be sure not to miss it.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ahmed-kouchouk\/\">Ahmed Kouchouk<\/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\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/euroclear\/\">Euroclear<\/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=\"556181\" 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=\"556181\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/our-sovereign-debt-should-finally-be-back-on-jpmorgan-ems-govt-debt-index-in-january-2022\/\">\r\n                            Our sovereign debt should finally be back on JPMorgan EMs gov\u2019t debt index in January 2022                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/our-sovereign-debt-should-finally-be-back-on-jpmorgan-ems-govt-debt-index-in-january-2022\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/our-sovereign-debt-should-finally-be-back-on-jpmorgan-ems-govt-debt-index-in-january-2022\/')\">\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\/14\/our-sovereign-debt-should-finally-be-back-on-jpmorgan-ems-govt-debt-index-in-january-2022\/\">\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=Our sovereign debt should finally be back on JPMorgan EMs gov\u2019t debt index in January 2022&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/our-sovereign-debt-should-finally-be-back-on-jpmorgan-ems-govt-debt-index-in-january-2022\/\">\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\/14\/our-sovereign-debt-should-finally-be-back-on-jpmorgan-ems-govt-debt-index-in-january-2022\/&title=Our sovereign debt should finally be back on JPMorgan EMs gov\u2019t debt index in January 2022\">\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=Our+sovereign+debt+should+finally+be+back+on+JPMorgan+EMs+gov%E2%80%99t+debt+index+in+January+2022+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F14%2Four-sovereign-debt-should-finally-be-back-on-jpmorgan-ems-govt-debt-index-in-january-2022%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\/14\/our-sovereign-debt-should-finally-be-back-on-jpmorgan-ems-govt-debt-index-in-january-2022\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/155.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"556182\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/our-sovereign-debt-should-finally-be-back-on-jpmorgan-ems-govt-debt-index-in-january-2022\/155-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/155.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"155.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/155.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/155.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556181\" class=\"content-area-description single-story post-556181 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt-watch tag-enterpriseam tag-investment-watch tag-jpmorgan tag-portfolio-investment wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a><strong> Egypt is expected to make it back onto JPMorgan\u2019s emerging-market sovereign<\/strong> <strong>bond index by the end of January 2022<\/strong>, the US investment bank said in a research note picked up by <a href=\"https:\/\/www.reuters.com\/article\/idUSL8N2R958I\">Reuters<\/a>. The country is eligible for a weight of close to 1.85%, with 14 government bonds with a combined value of USD 26 bn due to join, it added. This wouldn\u2019t be the first time Egypt has been a part of the index, having been booted off in the wake of the economic turmoil that followed the 25 January Revolution in 2011.<\/p>\n<p><strong>About time: <\/strong>The US investment bank <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2942a7fd-4cca-4286-98b3-5c2d1c99da8a\">said in April<\/a> it had placed Egypt, along with Ukraine, under review and that it will make a decision on inclusion in six months\u2019 time. This came on the back of both countries\u2019 steady improvement in liquidity and access to onshore sovereign debt.<\/p>\n<p><strong>The potential benefits: <\/strong>Inclusion is expected to generate <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ea858526-5700-49cf-9a6c-4bb9a7b54d2a\">USD 1.4-2.2 bn<\/a> in passive inflows by index-tracking funds into EGP-denominated debt, research analysts at the investment bank previously said. Finance Minister Mohamed Maait at the time <a href=\"https:\/\/www.mof.gov.eg\/ar\/posts\/media\/607aa9a16bd960000999f1b1\/%D9%88%D8%B2%D9%8A%D8%B1%20%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9..%20%D8%A8%D8%B9%D8%AF%20%D8%A7%D9%86%D8%B6%D9%85%D8%A7%D9%85%20%D9%85%D8%B5%D8%B1%20%D9%84%D9%82%D8%A7%D8%A6%D9%85%D8%A9%20%D8%A7%D9%84%D9%85%D8%B1%D8%A7%D9%82%D8%A8%D8%A9%20%D9%84%D9%85%D8%A4%D8%B4%D8%B1%20%C2%AB%D8%AC%D9%8A.%20%D8%A8%D9%8A.%20%D9%85%D9%88%D8%B1%D8%AC%D8%A7%D9%86%C2%BB%20%D9%84%D9%84%D8%B3%D9%86%D8%AF%D8%A7%D8%AA%20%D8%A7%D9%84%D8%AD%D9%83%D9%88%D9%85%D9%8A%D8%A9%20%D8%AA%D9%85%D9%87%D9%8A%D8%AF%D9%8B%D8%A7%20%D9%84%D8%A7%D9%86%D8%B6%D9%85%D8%A7%D9%85%D9%87%D8%A7%20%D9%84%D9%84%D9%85%D8%A4%D8%B4%D8%B1%20%D8%AE%D9%84%D8%A7%D9%84%20%D8%A7%D9%84%D8%A3%D8%B4%D9%87%D8%B1%20%D8%A7%D9%84%D9%85%D9%82%D8%A8%D9%84%D8%A9:%C2%A0\">put the figure higher<\/a> at USD 4.4 bn, while an economist at South African financial services company RMB Holdings estimated <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a5aae968-5b2f-4ad1-a71b-3fcef02a764d\">USD 4.8 bn<\/a>. Authorities have been <a href=\"https:\/\/enterprise.press\/stories\/2019\/02\/03\/egypt-seeks-inclusion-in-jpmorgan-em-bond-indexes\/\">working towards this goal<\/a> for over two years in a bid to cut borrowing costs and boost inflows.<\/p>\n<p><strong>Why we\u2019re eligible now<\/strong>: Egypt now has a combined nominal USD 28.2 bn in longer-term bonds maturing in over 2.5 years, which is the minimum maturity for inclusion in the index. Egypt\u2019s strong performance since completing the IMF reform program has paved the way for a compression of its debt to GDP ratio, and improved liquidity as well as improved access for foreign investors to sovereign debt will have also played a role.<\/p>\n<p><strong>Egypt made it onto FTSE Russell\u2019s new frontier-market sovereign bond index <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b180946d-ee6d-4bca-a997-bdcf0c56256a\">launched in June<\/a><\/strong>, which the Finance Ministry believes should attract another USD 4 bn in inflows.<\/p>\n<p>Foreign holdings have rebounded to new record highs this year following the emerging-market sell-off that accompanied the first wave of the coronavirus in March. Foreign investment in bills and bonds rose to a record USD 33 bn <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/77f1fef1-7022-4da7-a44e-d3ae01256eac\">at the start of August<\/a>, after having fallen to a nadir of USD 10.4 bn in May 2020.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/debt-watch\/\">debt watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/jpmorgan\/\">JPMorgan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/portfolio-investment\/\">portfolio investment<\/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=\"556183\" 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=\"556183\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/egypts-budget-deficit-is-expected-to-narrow-to-6-3-of-gdp-imf\/\">\r\n                            Egypt\u2019s budget deficit is expected to narrow to 6.3% of GDP \u2013IMF                        <\/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\/14\/egypts-budget-deficit-is-expected-to-narrow-to-6-3-of-gdp-imf\/\" 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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Although that may seem promising, the 6.3% figure is up 0.5 percentage points from the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/84a39eac-bae8-4860-8836-713905b48454\">fund\u2019s previous forecast for the FY2021-2022<\/a>.<\/p>\n<p><strong>Looking further ahead: <\/strong>The fund\u2019s October projections see the deficit continue to drop until it hits 4.4% of GDP in the FY2025-2026. A slight increase from the 4.2% figure forecasted in the fund\u2019s April report and a bigger increase from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fe09d867-dea8-4f57-9725-da9e7b6b0ecb\">last year\u2019s forecast of 3.8%<\/a>.<\/p>\n<p><strong>The report is expecting the primary surplus to see a slight improvement than previously thought<\/strong>, coming in at 1.7% of GDP at the end of the current fiscal year which will end on 30 July, 2022, from the previously forecasted 1%.<\/p>\n<p><strong>The fund is anticipating a slight increase of 0.2 percentage points in public spending: <\/strong>It now sees spending rising to 27.4% of GDP in FY2021-2022 from the 27.2% recorded during the last fiscal year, which was down from the fund\u2019s 27.9% forecast. The Egyptian government will soon be subject to new budget regulation after the Senate gave its preliminary approval of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/91cf3226-5bd2-467e-bf88-05b55aad3330\">Unified Budget Act<\/a>, which would govern the state\u2019s annual budget and government accountability into an updated bill that accounts for modern budget preparation processes and erases overlap between different pieces of legislation.<\/p>\n<p><strong>Although the country\u2019s debt is lower than expected: <\/strong>The current fiscal year\u2019s gross debt saw a slight drop to 89.5% from the 88.9% predicted during the fund\u2019s last report in April and a significant drop from last year\u2019s debt, which recorded 91.4%. Debt will continue on its downward trend until FY2025-2026, when it reaches 74.1% and gross financial needs for the current fiscal year will take up 36.9% of the GDP.<\/p>\n<p><strong>With debt decreasing and revenues on the rise, things are looking up for the Egyptian economy as its financial gap becomes smaller and smaller: <\/strong>Revenues are forecasted to rise to 21% in FY2021-2022 from the 19.9% during the last fiscal year and will slowly tick up to reach 21.6% by FY2025-2026.<\/p>\n<p><strong>Additional indicators: <\/strong>Healthcare spending will see a 0.2% rise from 2020-2030. The report is projecting a 2.1% drop in interest rate growth from 2021 to 2026, which comes in line with the Central Bank of Egypt leaving <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/751fae4a-b5b0-4438-9f03-71c964e0f473\">interest rates unchanged<\/a> for a seventh consecutive meeting last month.<\/p>\n<p><strong>The report\u2019s fiscal projections for Egypt are mainly based on budget sector operations<\/strong> and they are based on the budget for the fiscal year 2021-22 and the fund\u2019s macroeconomic outlook.<\/p>\n<p><strong>These projections come shortly after the IMF <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0995771d-0f22-47c8-bfac-8ff7985fa0b0\">slightly downgraded<\/a><\/strong><strong> its projection for global growth in 2021 to 5.9%<\/strong> in its October <a href=\"https:\/\/ent.news\/2021\/10\/World-Economic-Outlook-Oct-2021-IMF.pdf\">World Economic Outlook report (pdf)<\/a> \u2014 down a slim 0.1 percentage points from 6% in its last <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5f63657a-8d64-467c-b02a-80a4e75febbc\">update in July<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/budget-deficit\/\">budget deficit<\/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\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/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=\"556185\" 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=\"556185\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Energy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/egypt-greece-electricity-linkage-will-make-headway-with-mou-signing-today\/\">\r\n                            Egypt-Greece electricity linkage will make headway with MoU signing today                        <\/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\/14\/egypt-greece-electricity-linkage-will-make-headway-with-mou-signing-today\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The subsea cable comes as part of the USD 4 bn EuroAfrica <a href=\"https:\/\/enterprise.press\/stories\/2019\/02\/18\/egypt-finalizing-procedures-to-begin-electricity-linkage-project-with-cyprus\/\">Interconnector<\/a> project, which will connect the electrical grids of Egypt, Greece, and Cyprus. The project comes as part of Egypt\u2019s ambitions to become a regional energy hub and exporter of green energy to Europe. Egypt, which has committed to producing 42% of its electricity from renewables by 2035, produces an excess of solar energy, which is notoriously hard to store.<\/p>\n<p><strong>What\u2019s the progress on the linkage so far?<\/strong> The first, EUR 2.5 bn phase of the project <a href=\"https:\/\/www.euroafrica-interconnector.com\/at-glance\/project-timeline\/\">will<\/a><a href=\"https:\/\/www.euroafrica-interconnector.com\/at-glance\/project-timeline\/\">connect<\/a> the three countries\u2019 grids and is set for commissioning by December 2023 with an initial capacity of 1 GW. The project has been in the works for a while, as Cairo, Athens, and Nicosia signed the framework agreement <a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/23\/egypt-signs-framework-agreement-with-cyprus-greece-power-linkage\/\">back in 2019<\/a>. The project comes at a time when Europe is experiencing the first (but certainly not last) <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/208f2a2c-c345-4387-9410-0da9df41555a\">renewable energy crisis<\/a> in the renewable energy transition.<\/p>\n<hr class=\"grey-line\">\n<p><strong>OTHER ENERGY NEWS- Egypt\u2019s LNG exports are set to rise this month compared <\/strong><strong>to September, <\/strong>as shipments from the Idku liquefaction plant and the recently-revived Damietta plant ramp up, industry insiders told <a href=\"https:\/\/www.reuters.com\/article\/idUSL1N2R92BN\">Reuters<\/a> yesterday. Five shipments have already sailed so far into the month, with a vessel currently loading at the Idku plant, and another due on 16 October, according to data intelligence firm Kpler. The intelligence firm expects three shipments to leave each of the Idku and Damietta plants in the first half of October, compared to a total of five during the entire month of September. The increase also owed to a sell tender recently launched by state-owned EGAS for shipment on 31 October.<\/p>\n<p><strong>The numbers:<\/strong> The country exported a record 4.3 mn tonnes of LNG in 9M2021, up from only 0.45 mn tonnes a year earlier, thanks to an improvement in local supplies and in the pricing environment, a Kpler analyst told Reuters. Egypt exported 1.4 bn tonnes in 2Q2021, compared to none over the same period last year.<\/p>\n<p><strong>Egypt became a net exporter of LNG in 2018 <\/strong>after the discovery of the supergiant Zohr gas field \u2014 the Mediterranean\u2019s largest \u2014 allowed us to <a href=\"https:\/\/enterprise.press\/stories\/2018\/09\/30\/egypt-ends-natural-gas-imports\/\">pull the plug<\/a> on LNG imports. While Egypt was the Middle East\u2019s <a href=\"https:\/\/enterprise.press\/stories\/2019\/02\/04\/egypt-is-leading-the-regions-decline-in-liquefied-natural-gas-demand\/\">biggest LNG importer<\/a> in 2016 and 2017, it made the largest contribution to the growth of Arab countries\u2019 LNG exports in 2Q2021, according to <a href=\"https:\/\/egyptoil-gas.com\/news\/egypt-most-growing-arab-lng-exporter-in-q2-2021-report\/\">a report<\/a> by the Organization of Arab Petroleum Exporting Countries (OAPEC) issued in August.<\/p>\n<p><strong>Egypt\u2019s LNG exports also picked up steam after we brought the Damietta liquefied natural gas (LNG) plant online <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3613f080-5d75-4b85-af31-1b66fcda3204\">earlier in the year<\/a><\/strong> following an eight-year hiatus. The revival of the plant was expected to boost Egyptian natgas supplies to Europe, at least 30 LNG shipments have <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2d383c65-dda0-4b36-8860-c82fa7b99e0d\">made their way out<\/a> of the revived plant and the Idku facility since then.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/greece\/\">Greece<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/green-energy\/\">green energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewable-energy\/\">renewable energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/renewables\/\">renewables<\/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=\"556187\" 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=\"556187\">\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\">INFRASTRUCTURE WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/the-buildout-of-our-fastest-ever-rail-line-is-on-the-fast-track\/\">\r\n                            The buildout of our fastest-ever rail line is on the fast track                        <\/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\/14\/the-buildout-of-our-fastest-ever-rail-line-is-on-the-fast-track\/\" 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\/14\/the-buildout-of-our-fastest-ever-rail-line-is-on-the-fast-track\/')\">\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\/14\/the-buildout-of-our-fastest-ever-rail-line-is-on-the-fast-track\/\">\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=The buildout of our fastest-ever rail line is on the fast track&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/the-buildout-of-our-fastest-ever-rail-line-is-on-the-fast-track\/\">\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\/14\/the-buildout-of-our-fastest-ever-rail-line-is-on-the-fast-track\/&title=The buildout of our fastest-ever rail line is on the fast track\">\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=The+buildout+of+our+fastest-ever+rail+line+is+on+the+fast+track+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F14%2Fthe-buildout-of-our-fastest-ever-rail-line-is-on-the-fast-track%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\/14\/the-buildout-of-our-fastest-ever-rail-line-is-on-the-fast-track\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/159.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"556188\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/the-buildout-of-our-fastest-ever-rail-line-is-on-the-fast-track\/159-jpg-13\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/159.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"159.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/159.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/159.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556187\" class=\"content-area-description single-story post-556187 post type-post status-publish format-standard has-post-thumbnail hentry category-infrastructure-watch tag-arab-contractors tag-enterpriseam tag-high-speed-rail tag-infrastructure-watch tag-orascom-construction tag-siemens-mobility tag-transport wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Our first high-speed rail line is \u201con the fast track\u201d \u2014 but it\u2019s unclear exactly when<\/strong><strong> it will be operational:<\/strong> The first high-speed rail line in Egypt, which will connect the Red Sea to the Mediterranean, could take as long as 10 years to complete, but the project is \u201con the fast track,\u201d Siemens Mobility Middle East and Africa CEO Leon Soulier tells Bloomberg (<a href=\"https:\/\/www.bloomberg.com\/news\/videos\/2021-10-13\/siemens-mobility-signs-3b-rail-system-contract-in-egypt-video?sref=mmeFTDW1\">watch, runtime: 6:02<\/a>). The government <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/13c77944-a194-421e-b52d-c3ab09523df6\">earlier this year<\/a> signed a USD 4.5 bn agreement with Siemens Mobility, Orascom Construction and Arab Contractors to install and maintain the first 660 km line of the high-speed railway. Cabinet had said in January that the first line should be completed within two years after signing contracts.<\/p>\n<p><strong>Soulier refrained from providing specific timelines <\/strong>but explained that building out high-speed railway systems in other countries typically takes about the same amount of time. They will be working \u201cas fast as possible alongside the Egyptian government and local partners,\u201d to complete the project, he added. The Siemens Mobility regional boss suggested the consortium is still in talks with the government on exactly how to develop the project.<\/p>\n<p><strong>This is just the first leg of a larger <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e2356273-f17c-4a5b-a987-663aab9a2e29\">USD 23 bn project<\/a><\/strong><strong> that will stretch for some 1.8k km across Egypt<\/strong>, linking Cairo, Aswan, the North Coast and the Red Sea. The Sokhna-Matrouh connection will feature a double-decker passenger line able to carry more than 30 mn people a year as well as a freight line, which has once again been described as \u201ca Suez Canal on Tracks,\u201d capable of handling \u201cmns in tonnage\u201d every year, Soulier said.<\/p>\n<p><strong>We could be looking at cross border high-speed rail connections too: <\/strong>While there are no active talks about expanding the rail network internationally \u2014 particularly to Sudan or Libya \u2014 Soulier said that the government is likely \u201cgoing in that direction.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/arab-contractors\/\">Arab Contractors<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/high-speed-rail\/\">high-speed rail<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure-watch\/\">infrastructure watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/orascom-construction\/\">Orascom Construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/siemens-mobility\/\">Siemens Mobility<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556189\" 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=\"556189\">\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\">Startup watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/efreshli-raises-usd-550k-seed-round-from-angel-investor-tarek-sakr-marakez\/\">\r\n                            Efreshli raises USD 550k seed round from angel investor Tarek Sakr, Marakez                        <\/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\/14\/efreshli-raises-usd-550k-seed-round-from-angel-investor-tarek-sakr-marakez\/\" 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\/14\/efreshli-raises-usd-550k-seed-round-from-angel-investor-tarek-sakr-marakez\/')\">\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\/14\/efreshli-raises-usd-550k-seed-round-from-angel-investor-tarek-sakr-marakez\/\">\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=Efreshli raises USD 550k seed round from angel investor Tarek Sakr, Marakez&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/efreshli-raises-usd-550k-seed-round-from-angel-investor-tarek-sakr-marakez\/\">\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\/14\/efreshli-raises-usd-550k-seed-round-from-angel-investor-tarek-sakr-marakez\/&title=Efreshli raises USD 550k seed round from angel investor Tarek Sakr, Marakez\">\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=Efreshli+raises+USD+550k+seed+round+from+angel+investor+Tarek+Sakr%2C+Marakez+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F14%2Fefreshli-raises-usd-550k-seed-round-from-angel-investor-tarek-sakr-marakez%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\/14\/efreshli-raises-usd-550k-seed-round-from-angel-investor-tarek-sakr-marakez\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/160.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"556190\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/efreshli-raises-usd-550k-seed-round-from-angel-investor-tarek-sakr-marakez\/160-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/160.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"160.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/160.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/160.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556189\" class=\"content-area-description single-story post-556189 post type-post status-publish format-standard has-post-thumbnail hentry category-startup-watch tag-efreshli tag-enterpriseam tag-startup-watch tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Egyptian online interior design firm <\/strong><strong><a href=\"https:\/\/efreshli.com\/\">Efreshli<\/a><\/strong><strong> has raised a USD 550k seed round<\/strong> led by angel investor Tarek Sakr and property developer Marakez, founder and CEO <a href=\"https:\/\/www.linkedin.com\/in\/heba-el-gabaly-49614177\/?originalSubdomain=ae\">Heba El Gabaly<\/a> tells Enterprise. The startup aims to offer a new and accessible way to furnish homes, offices, or any other space through their virtual decor tool that allows customers to visualize how room setups will look before they make a purchase. Efreshli works with furniture and decor brands to curate rooms based on customers\u2019 personal aesthetic style and budget while also assisting with the purchase of the items.<\/p>\n<p><strong>The funding will be used to finance Efreshli\u2019s geographical expansion and develop their tech infrastructure<\/strong>, El Gabaly said. The firm is aiming to expand across the region and has plans to launch in the UAE in the coming year, she added.<\/p>\n<ul>\n<li> <\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efreshli\/\">Efreshli<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startup-watch\/\">Startup watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556191\" 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=\"556191\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/swvl-reports-record-topline-growth-in-3q2021-as-it-braces-for-nasdaq-debut\/\">\r\n                            Swvl reports record topline growth in 3Q2021 as it braces for Nasdaq debut                        <\/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\/14\/swvl-reports-record-topline-growth-in-3q2021-as-it-braces-for-nasdaq-debut\/\" 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\/14\/swvl-reports-record-topline-growth-in-3q2021-as-it-braces-for-nasdaq-debut\/')\">\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\/14\/swvl-reports-record-topline-growth-in-3q2021-as-it-braces-for-nasdaq-debut\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Swvl reports record topline growth in 3Q2021 as it braces for Nasdaq debut&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/swvl-reports-record-topline-growth-in-3q2021-as-it-braces-for-nasdaq-debut\/\">\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\/14\/swvl-reports-record-topline-growth-in-3q2021-as-it-braces-for-nasdaq-debut\/&title=Swvl reports record topline growth in 3Q2021 as it braces for Nasdaq debut\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Swvl+reports+record+topline+growth+in+3Q2021+as+it+braces+for+Nasdaq+debut+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F14%2Fswvl-reports-record-topline-growth-in-3q2021-as-it-braces-for-nasdaq-debut%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\/14\/swvl-reports-record-topline-growth-in-3q2021-as-it-braces-for-nasdaq-debut\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556191\" class=\"content-area-description single-story post-556191 post type-post status-publish format-standard hentry category-earnings-watch tag-earnings-watch tag-enterpriseam tag-nasdaq tag-swvl wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Swvl reported revenues of USD 16 mn in the third quarter of 2021<\/strong>, up nearly 263% y-o-y from USD 4.4 mn in 3Q2020 and almost 14x from the same quarter three years ago, the mass transport app said in an <a href=\"https:\/\/www.swvl.com\/hubfs\/Investor%20Resources\/Swvl%20Holdings%20Q3%202021%20Earnings.pdf\">earnings release (pdf)<\/a>. The company\u2019s net margin also improved noticeably from to -12.5% in 3Q2021 from -53.8% in 3Q2018. The release came as Swvl is expected to be the first Egyptian company to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bfbf590f-581d-4b49-96b3-3ac733bb7fe3\">IPO on the Nasdaq<\/a> later this year via a merger with US special purpose acquisition company (SPAC) <a href=\"https:\/\/queensgambitspac.com\/\">Queen\u2019s Gambit Growth Capital<\/a>.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/nasdaq\/\">Nasdaq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/swvl\/\">Swvl<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556192\" 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=\"556192\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Kudos<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/efg-hassan-allam-khazna-all-get-a-round-of-applause\/\">\r\n                            EFG, Hassan Allam, Khazna all get a round of applause                        <\/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\/14\/efg-hassan-allam-khazna-all-get-a-round-of-applause\/\" 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\/14\/efg-hassan-allam-khazna-all-get-a-round-of-applause\/')\">\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\/14\/efg-hassan-allam-khazna-all-get-a-round-of-applause\/\">\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, Hassan Allam, Khazna all get a round of applause&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/efg-hassan-allam-khazna-all-get-a-round-of-applause\/\">\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\/14\/efg-hassan-allam-khazna-all-get-a-round-of-applause\/&title=EFG, Hassan Allam, Khazna all get a round of applause\">\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%2C+Hassan+Allam%2C+Khazna+all+get+a+round+of+applause+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F14%2Fefg-hassan-allam-khazna-all-get-a-round-of-applause%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\/14\/efg-hassan-allam-khazna-all-get-a-round-of-applause\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556192\" class=\"content-area-description single-story post-556192 post type-post status-publish format-standard hentry category-kudos tag-consumer-finance tag-efg-hermes tag-enterpriseam tag-fintech tag-hassan-allam-holding tag-khazna tag-kudos tag-valu wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>KUDOS-<\/strong><\/p>\n<p><strong>We said earlier this week that it is never too late to start something new <\/strong>\u2014 or even start over. In that vein: Big kudos to reader <strong>Ehab Mikhael from ADM<\/strong>, who wrote in to let us know that he agreed, having earned his MBA just a few days earlier at the age of 44.<\/p>\n<p><strong>EFG Hermes\u2019 consumer finance arm valU was named fintech company of the year<\/strong> <strong>at the Tech Innovation Awards 2021<\/strong> \u2014 hosted by BNC Publishing\u2019s <a href=\"https:\/\/bncpublishing.net\/brands\/entrepreneur-middle-east\/\">Entrepreneur Middle East<\/a> in Dubai on 6 October, the company said in a <a href=\"https:\/\/ent.news\/2021\/10\/valU-Tech-Innovation-Awards-2021-English.docx.pdf\">press release (pdf)<\/a><sup><\/sup>. \u201cWe are honored to be named \u2018Fintech Company of the Year\u2019 by Entrepreneur Middle East and to be nominated among some of the strongest names in the fintech industry,\u201d valU CEO Walid Hassouna said.<\/p>\n<p><strong>Fintech startup <\/strong><strong><a href=\"https:\/\/khazna.app\/\">Khazna<\/a><\/strong><strong> was selected to compete in the first iteration of the Last Mile<\/strong><strong> Money Accelerator<\/strong>, a program founded by the Bill & Melinda Gates Foundation and managed by design company IDEO. \u201cThe four-month programme aims to supercharge startups with grant capital, world class design support from IDEO and IDEO.org, and connections to key strategic ecosystem partners,\u201d according to <a href=\"https:\/\/disrupt-africa.com\/2021\/10\/07\/7-african-startups-selected-for-inaugural-last-mile-money-accelerator\/\">Disrupt Africa<\/a>.<\/p>\n<p><strong>Hassan Allam Holding took home the Technology Initiative of the Year prize<\/strong> at the <a href=\"https:\/\/www.constructionweekonline.com\/events\/awards\/cw-egypt-awards-2021-hassan-allam-holding-wins-tech-initiative-of-the-year\">CW Egypt Awards 2021<\/a>. The company was noted for implementing SAP across all its business divisions, employing the system for \u201cdocument creation approval with different strategies, as well as reviewing and monitoring all transactions.\u201d<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/consumer-finance\/\">consumer finance<\/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\/fintech\/\">Fintech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hassan-allam-holding\/\">Hassan Allam Holding<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/khazna\/\">Khazna<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kudos\/\">KUDOS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/valu\/\">ValU<\/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=\"556193\" 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=\"556193\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/556193\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556193\" class=\"content-area-description single-story post-556193 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.sodic.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/Tactical-Male-1600WX800H-for-web.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556194\" 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=\"556194\">\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\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/el-sisis-day-in-budapest-leads-the-airwaves\/\">\r\n                            El Sisi\u2019s day in Budapest leads the airwaves                        <\/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\/14\/el-sisis-day-in-budapest-leads-the-airwaves\/\" 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\/14\/el-sisis-day-in-budapest-leads-the-airwaves\/')\">\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\/14\/el-sisis-day-in-budapest-leads-the-airwaves\/\">\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=El Sisi\u2019s day in Budapest leads the airwaves&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/el-sisis-day-in-budapest-leads-the-airwaves\/\">\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\/14\/el-sisis-day-in-budapest-leads-the-airwaves\/&title=El Sisi\u2019s day in Budapest leads the airwaves\">\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=El+Sisi%E2%80%99s+day+in+Budapest+leads+the+airwaves+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F14%2Fel-sisis-day-in-budapest-leads-the-airwaves%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\/14\/el-sisis-day-in-budapest-leads-the-airwaves\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556194\" class=\"content-area-description single-story post-556194 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-abdel-fattah-el-sisi tag-diplomacy tag-enterpriseam tag-last-nights-talk-shows wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It was another quiet night on the airwaves yesterday<\/strong>, with power couple Amr Adib and Lamees El Hadidi taking the night off, making it quieter than usual. The talking heads were still on President Abdel Fattah El Sisi\u2019s visit to Budapest, with Al Hayah Al Youm\u2019s Mohamed Sherdy showing clips from El Sisi\u2019s speech following a sit-down between the president and Hungarian PM Viktor Orb\u00e1n after this week\u2019s Visegr\u00e1d (V4) summit (<a href=\"https:\/\/www.youtube.com\/watch?v=GpBymhiGqtE&ab_channel=AlHayahTVNetwork\">watch, runtime: 3:05<\/a>). El Sherdy also had commentary on El Sisi\u2019s bilateral talks following the summit (<a href=\"https:\/\/www.youtube.com\/watch?v=SLL_rwHnEXU&ab_channel=AlHayahTVNetwork\">watch, runtime: 5:23<\/a>). We have more in Diplomacy, below.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556195\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px 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draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240922.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27489.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Opening up a world of opportunity<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-yt01fl1\" data-v=\"4\" data-block-id=\"yt01fl1\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-yt01fl1-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-yt01fl1-inner-blocks\">\r\n    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class=\"stk-column-wrapper stk-block-column__content stk-container stk-9tx7amr-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-9tx7amr-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240925.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/weareinfinity.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/27483.png?fit=300%2C300&#038;ssl=1\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Powering with nature<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-pjn9qoe\" data-v=\"4\" data-block-id=\"pjn9qoe\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-pjn9qoe-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-pjn9qoe-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240926.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.qalaaholdings.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/110691.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n             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   <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/human-rights-dominates-the-conversation-on-egypt-in-the-foreign-press-again\/\">\r\n                            Human rights dominates the conversation on Egypt in the foreign press \u2014 again                        <\/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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dominates the conversation on Egypt in the foreign press \u2014 again\">\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=Human+rights+dominates+the+conversation+on+Egypt+in+the+foreign+press+%E2%80%94+again+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F14%2Fhuman-rights-dominates-the-conversation-on-egypt-in-the-foreign-press-again%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\/14\/human-rights-dominates-the-conversation-on-egypt-in-the-foreign-press-again\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556196\" class=\"content-area-description single-story post-556196 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-enterpriseam tag-human-rights tag-joe-biden tag-us wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>It\u2019s another human rights-focused morning <\/strong>with a driveby from the <a href=\"https:\/\/www.voanews.com\/a\/egypt-s-human-rights-strategy-ignores-current-abuses-analysts-say-\/6268079.html\">VOA<\/a> on the concerns of journalists and analysts about Egypt\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/595426f7-3472-4270-929d-874be0bdfb06\">recently-announced human rights strategy<\/a>. The story draws a direct line between the appearance of the strategy and the earlier decision by the Biden administration to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e770dbbc-0d53-45a7-b108-7b6258603033\">withhold<\/a> part of the US\u2019 annual military aid to Egypt.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/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=\"556197\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556198\" 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=\"556198\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/suez-canal-revenues-up-12-4-so-far-this-year\/\">\r\n                            Suez Canal revenues up 12.4% so far this year                        <\/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\/14\/suez-canal-revenues-up-12-4-so-far-this-year\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The canal\u2019s receipts reached USD 4.86 bn up until this point, with 13.3k vessels carrying 7% more cargo on an annual basis.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>Civil aircraft leasing agreements could eventually <\/strong><strong><a href=\"https:\/\/bit.ly\/3Bz6Xi6\">be exempted<\/a><\/strong><strong> from the VAT<\/strong> after the Madbouly cabinet greenlit a decision to amend some provisions of the VAT Act.<\/li>\n<li><strong>The Suez Canal Authority <\/strong><a href=\"https:\/\/www.suezcanal.gov.eg\/Arabic\/MediaCenter\/News\/Pages\/sca_13-10-2021.aspx\">signed a cooperation protocol<\/a> with<strong> Siemens<\/strong> that will see the latter train engineers and technicians working for the SCA. The two sides are also studying a potential maintenance and spare parts supply contract.<\/li>\n<li>Raya Holding\u2019s <strong>Aman<\/strong> <a href=\"https:\/\/bit.ly\/3mPl5xt\">has obtained<\/a> <strong>an SME lending license<\/strong> from the Financial Regulatory Authority.<\/li>\n<li><strong>The tender to establish the Tenth of Ramadan City dry port and logistics hub<\/strong> has <a href=\"https:\/\/alborsaanews.com\/2021\/10\/13\/1471368\">received offers<\/a> from six unnamed consortiums after having been launched <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f2825796-ac8b-4b4a-b8e8-a0ffccacb47d\">last June<\/a>.<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/aman-financial-services\/\">Aman Financial Services<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/\">commodities<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/osama-rabie\/\">Osama Rabie<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal\/\">Suez Canal<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/suez-canal-authority\/\">Suez Canal Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vat\/\">VAT<\/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=\"556199\" 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=\"556199\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/sinovac-provides-vacsera-with-raw-materials-for-250-mn-homemade-jabs\/\">\r\n                            Sinovac provides Vacsera with raw materials for 250 mn homemade jabs                        <\/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\/14\/sinovac-provides-vacsera-with-raw-materials-for-250-mn-homemade-jabs\/\" 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\/14\/sinovac-provides-vacsera-with-raw-materials-for-250-mn-homemade-jabs\/')\">\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\/14\/sinovac-provides-vacsera-with-raw-materials-for-250-mn-homemade-jabs\/\">\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=Sinovac provides Vacsera with raw materials for 250 mn homemade jabs&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/sinovac-provides-vacsera-with-raw-materials-for-250-mn-homemade-jabs\/\">\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\/14\/sinovac-provides-vacsera-with-raw-materials-for-250-mn-homemade-jabs\/&title=Sinovac provides Vacsera with raw materials for 250 mn homemade jabs\">\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=Sinovac+provides+Vacsera+with+raw+materials+for+250+mn+homemade+jabs+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F14%2Fsinovac-provides-vacsera-with-raw-materials-for-250-mn-homemade-jabs%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\/14\/sinovac-provides-vacsera-with-raw-materials-for-250-mn-homemade-jabs\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556199\" class=\"content-area-description single-story post-556199 post type-post status-publish format-standard hentry category-covid-watch tag-covid-19 tag-enterpriseam tag-sinovac tag-vaccines tag-vacsera 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=182299650747924&set=a.113299807647909\">reported<\/a><\/strong> <strong>861 new covid-19 infections yesterday<\/strong>, up from 857 the day before. Egypt has now disclosed a total of 314,997 confirmed cases of covid-19. The ministry also reported 41 new deaths, bringing the country\u2019s total death toll to 17,806.<\/p>\n<p><strong>Sinovac is supplying state-owned vaccine maker Vacsera with raw materials for<\/strong><strong> 250 mn covid jabs in 2023<\/strong>, Health Minister Hala Zayed said in yesterday\u2019s cabinet meeting, according to a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/247675614069533\">statement<\/a>. The agreement will also see the dispatch of technical teams from both companies to the other\u2019s factories for training purposes. Under the two firms\u2019 existing agreement, Vacsera\u2019s daily capacity stood at around <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fddb4dc9-d0b4-4724-8dbe-13bf5b807ee9\">300k Sinovac shots per day<\/a> in September, giving it a monthly production capacity of some 9 mn doses by our math. The company eventually expects to raise capacity to produce <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/41c4d9d1-17d6-4e13-acbf-5c5e86c69725\">15-18.5 mn doses each month<\/a> after the opening of its new facility in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ba538c22-ee5c-4492-a658-fe6f2301cfec\">Sixth<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ba538c22-ee5c-4492-a658-fe6f2301cfec\">of October<\/a> in November.<\/p>\n<p><strong>New Africa + Middle East export hub?<\/strong> The ministry is also considering offering Sinovac a building in Vacsera\u2019s new plant to produce vaccines for export across Africa and the Middle East. The factory aims to position Egypt as a vaccine-making hub for export to the rest of Africa, the Health Ministry has said previously.<\/p>\n<p><strong>A plan is being drawn up to establish vaccination clinics in all government hospitals, <\/strong>Zayed said, bringing the total number of centers to <strong>2k clinics, up from 850 at <\/strong><strong><a href=\"https:\/\/enterprise.press\/stories\/2021\/09\/26\/tonight-ezdehar-completes-first-close-on-its-egypt-mid-cap-fund-ii-also-germanys-elections-too-close-to-call-pessimism-post-evergrand-54339\/\">last count<\/a><\/strong>. The plan aims to make vaccination mandatory for entry to all state-run hospitals and buildings affiliated with the Health Ministry, she added.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sinovac\/\">Sinovac<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vaccines\/\">vaccines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/vacsera\/\">Vacsera<\/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=\"556200\" 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=\"556200\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/subscription-period-for-sawiris-backed-fertiglobe-ipo-kicks-off\/\">\r\n                            Subscription period for Sawiris-backed Fertiglobe 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\/14\/subscription-period-for-sawiris-backed-fertiglobe-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\/14\/subscription-period-for-sawiris-backed-fertiglobe-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\/14\/subscription-period-for-sawiris-backed-fertiglobe-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=Subscription period for Sawiris-backed Fertiglobe IPO kicks off&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/subscription-period-for-sawiris-backed-fertiglobe-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\/14\/subscription-period-for-sawiris-backed-fertiglobe-ipo-kicks-off\/&title=Subscription period for Sawiris-backed Fertiglobe 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=Subscription+period+for+Sawiris-backed+Fertiglobe+IPO+kicks+off+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F14%2Fsubscription-period-for-sawiris-backed-fertiglobe-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\/14\/subscription-period-for-sawiris-backed-fertiglobe-ipo-kicks-off\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556200\" class=\"content-area-description single-story post-556200 post type-post status-publish format-standard hentry category-planet-finance tag-abu-dhabi-national-oil-co tag-enterpriseam tag-fertiglobe tag-financial-markets tag-planet-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_408150\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408151.svg\" alt=\"\" class=\"wp-image-408151\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>Subscription period for Sawiris-backed Fertiglobe IPO kicks off:<\/strong> Nitrogen fertilizer company Fertiglobe \u2014 a joint venture between Abu Dhabi National Oil Co. and Nassef Sawiris\u2019 OCI \u2014 kicked off the subscription period for its forthcoming IPO yesterday, according to <a href=\"https:\/\/www.cnbcarabia.com\/news\/view\/89699\/%D8%A8%D8%AF%D8%A1-%D8%A7%D9%84%D8%A7%D9%83%D8%AA%D8%AA%D8%A7%D8%A8-%D8%B9%D9%84%D9%89-%D8%A3%D8%B3%D9%87%D9%85-%D8%B4%D8%B1%D9%83%D8%A9-Fertiglobe-%D8%A7%D9%84%D9%85%D9%85%D9%84%D9%88%D9%83%D8%A9-%D9%84%D8%A3%D8%AF%D9%86%D9%88%D9%83-%D9%88-OCI-%D8%A7%D9%84%D9%8A%D9%88%D9%85.html\">CNBC Arabia<\/a>. The company is offering a 13.8% stake (1.1 mn shares), with an indicative price range set at AED 2.45-2.65 per share, putting its initial valuation at somewhere between USD 5.5 bn to USD 6 bn. Banking sources <a href=\"https:\/\/www.cnbcarabia.com\/news\/view\/89387\">said<\/a> that Fertiglobe aims to raise around USD 750 mn in its bourse debut, which is expected to be one of <strong>Abu Dhabi\u2019s largest ever IPOs<\/strong>. Fertiglobe first <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8b51a820-88a4-4fb4-b714-870ca7cea313\">announced<\/a> plans to offer a 13.8% stake in the joint venture on the ADX earlier this month, and early estimates have valued the company around USD 7 bn.<\/p><p><strong>Advisors:<\/strong> Citigroup, First Abu Dhabi Bank, HSBC Bank Middle East and Morgan Stanley have been appointed as joint global coordinators. EFG Hermes UAE, Goldman Sachs and International Securities have been appointed as joint bookrunners.<\/p><p><strong>The US Is now the world\u2019s largest cryptocurrency mining hub<\/strong>, after Chinese authorities banned the practice in their country earlier this year due to environmental and risk concerns, data from the Cambridge Centre for Alternative Finance shows, according to the <a href=\"https:\/\/www.ft.com\/content\/50acdea5-cad1-4f39-8e6a-9be7ab78485d\">Financial Times<\/a>. China\u2019s share of the global hashrate \u2014 a term for the computing power required to mine crypto \u2014 fell from 44% to 0% between May and July, while the US\u2019 spiralled to 35% from only 17% before the ban.<\/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>10881<\/p>\n<\/td>\n<td>\n<p>+0.9% (YTD: +0.3%)<\/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>11,625<\/p>\n<\/td>\n<td>\n<p>+0.7% (YTD: +33.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>7,786<\/p>\n<\/td>\n<td>\n<p>-0.01% (YTD: +54.3%)<\/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>2,789<\/p>\n<\/td>\n<td>\n<p>+0.06% (YTD: +11.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,364<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: 16.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,142<\/p>\n<\/td>\n<td>\n<p>+0.2% (YTD: 10.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 83.34<\/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>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 5.59<\/p>\n<\/td>\n<td>\n<p>+1.5%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,794.70<\/p>\n<\/td>\n<td>\n<p>+2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 57,558.46<\/p>\n<\/td>\n<td>\n<p>+3% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 rose 0.9% yesterday<\/strong> on turnover of EGP 1.13 bn (25% below the 90-day average). Foreign investors were net sellers. The index is up 0.3% YTD.<\/p><p><strong>In the green: <\/strong>Fawry (+6.4%), AMOC (+5.1%) and Mopco (+2.8%).<\/p><p><strong>In the red: <\/strong>Aspire Capital (-9.5%), Pioneers Properties (-6.3%) and Gadwa Industrial Development (-6.3%).<\/p><p><strong>Asian markets are largely in the green this morning <\/strong>after shares on Wall Street snapped yesterday a three-day losing streak. Futures suggest both US and European shares should open in the green later today.<\/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\/abu-dhabi-national-oil-co\/\">Abu Dhabi National Oil Co<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fertiglobe\/\">Fertiglobe<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556201\" 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=\"556201\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">15<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/egypt-and-hungary-are-still-talking-regional-issues\/\">\r\n                            Egypt and Hungary are still talking regional issues                        <\/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\/14\/egypt-and-hungary-are-still-talking-regional-issues\/\" 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\/14\/egypt-and-hungary-are-still-talking-regional-issues\/')\">\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\/14\/egypt-and-hungary-are-still-talking-regional-issues\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt and Hungary are still talking regional issues&url=https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/egypt-and-hungary-are-still-talking-regional-issues\/\">\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\/14\/egypt-and-hungary-are-still-talking-regional-issues\/&title=Egypt and Hungary are still talking regional issues\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+and+Hungary+are+still+talking+regional+issues+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F10%2F14%2Fegypt-and-hungary-are-still-talking-regional-issues%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\/14\/egypt-and-hungary-are-still-talking-regional-issues\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556201\" class=\"content-area-description single-story post-556201 post type-post status-publish format-standard hentry category-diplomacy tag-diplomacy tag-el-sisi tag-enterpriseam tag-hungary tag-tunisia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>President Abdel Fattah <\/strong><strong>El Sisi<\/strong><strong> discussed bilateral relations, FDI and increasing trade between Egypt and <\/strong><strong>Hungary with Hungarian PM Viktor Orb\u00e1n at a meeting during Visegr\u00e1d (V4) Group\u2019s summit yesterday<\/strong>, according to an Ittihadiya <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/422080149280719\">statement<\/a>. The meeting saw the two leaders discuss trade, cooperation to counter terrorism, illegal immigration, and regional and international security, with Orb\u00e1n lauding Egypt\u2019s peacekeeping efforts in the region. El Sisi reiterated the role of the international community in safeguarding Egypt\u2019s water security in light of stalled negotiations over the Grand Ethiopian Renaissance Dam. In a <a href=\"https:\/\/www.youtube.com\/watch?v=wJIFEdLwSN8\">joint press conference (watch, runtime: 4:32)<\/a>, El Sisi thanked Orb\u00e1n for his invitation to the V4 and for his continued support and confidence in Egypt \u2014 and extended an invitation to Orb\u00e1n to the yet-to-be announced inauguration of the new administrative capital.<\/p>\n<p><strong>IN OTHER DIPLO NEWS- El Sisi phoned his Tunisian counterpart, Kais Saied<\/strong>, to congratulate him on forming a new government, <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/422319622590105?__cft__[0]=AZW5C4KKXOEJnCCO-EuoBdZpYKLFq4cQUGYa3m8p3SreHQSnuHsYjgCcObCTDZKlsYb0ng3FMt_ANrsWTTygqTWuFqrIaUXtjp9PtKIG7QCeyHYmSlJwXQOyJK0m2ABfKqQ-eaNdDZpgT3nmaemCXy7t&__tn__=%2CO%2CP-R\">Ittihadiya<\/a> said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/el-sisi\/\">El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hungary\/\">Hungary<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tunisia\/\">Tunisia<\/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=\"556202\" 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=\"556202\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">16<\/div>\r\n\r\n                    <p class=\"f-graphik\">My Morning Routine<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/14\/my-morning-routine-hesham-sallam-ace-paleontologist-and-discoverer-of-mansourasaurus\/\">\r\n                            My Morning Routine: Hesham Sallam, ace paleontologist and discoverer of Mansourasaurus                        <\/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\/14\/my-morning-routine-hesham-sallam-ace-paleontologist-and-discoverer-of-mansourasaurus\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Speaking to us this week is Hesham Sallam, founder of Mansoura University Vertebrate Paleontology Center (MUVP), and associate professor at the American University in Cairo (AUC) and Mansoura University (<a href=\"https:\/\/www.aucegypt.edu\/fac\/hesham\">bio<\/a>). <strong>Edited excerpts from our conversation:<\/strong><\/p>\n<p><strong>My name is Hesham Sallam<\/strong>; I\u2019m the founder of MUVP and an associate professor at AUC and Mansoura University. My work is focused on prehistoric discoveries and paleontological research on the vertebrate fossils of Afro-Arabia.<\/p>\n<p><strong>Geology began to grow on me when I was a university student, as it made me understand the evolution of vertebrates.<\/strong> I found my passion during these years and after many following years of study and pursuing my master\u2019s degree, my story began with vertebrate fossils and dinosaur fossils. I really struggled at first and was on the verge of quitting multiple times \u2014 until I received a scholarship to pursue my PhD at the University of Oxford. My first experience in field work in Egypt was while I was an Oxford student and was only considered for the work alongside a team of foreigners because, ironically, Egyptians were prohibited from that kind of work.<\/p>\n<p><strong>With time, my goal became to bring a new discipline to Egypt.<\/strong> In the early 2000s, Egypt didn\u2019t have anyone specializing in vertebrate fossils, meaning that this wasn\u2019t something that was even taught at universities despite the fact that Egypt is one of the countries in the region that is richest with vertebrate fossils and attracts foreign scientists around the world who end up taking our fossils because no one else in Egypt was interested in doing that.<\/p>\n<p><strong>I received my PhD and came back with a big dream<\/strong>. During the second year of my undergrad, I listed six goals that I worked on one by one in the following years: To find outstanding talents in Egypt in the field; to establish a lab within Mansoura University; to organize regular fossil hunting expeditions; establish and teach this course in different universities across Egypt; to become an open source in academia; and to help in creating a natural history museum. I accomplished five out of six \u2014 the remaining one is a very big dream that should become a national project.<\/p>\n<p><strong>I always had big ambitions in Egypt.<\/strong> I started Mansoura University Vertebrate Paleontology Center (MUVP) with a single desk and a chair. The young generations love natural history and dinosaurs but don\u2019t even know that dinosaurs walked this country a mn years ago. They have no role models in this field, and I\u2019m afraid deprivation breeds ignorance.<\/p>\n<p><strong>Mansourasaurus turned the tables: <\/strong>In 2014, I selected three of my top tier female students to attend a lecture at the New Valley University. While we were heading back, we randomly stopped at a new paved road carved out of the mountains, and that\u2019s when we found the skeleton of Mansourasaurus. Since 2008, I had been searching for it with an international team as someone long ago recorded that they saw dinosaur bones in this area. It is this one sentence in a research paper that kept us hopeful even though there wasn't even any other evidence that this is in fact true.<\/p>\n<p><strong>The center wouldn't have become what it is today if it weren\u2019t for the Mansourasaurus discovery in 2018. <\/strong>It was only after the discovery that people began to take us seriously; I was given a huge space for a lab that I never dreamed of and was also awarded a huge funding for our research projects, excavation trips and to get new equipment. The center was then transformed into what is known today as Sallam Lab. MUVP and the AUC lab are under the umbrella of Sallam Lab.<\/p>\n<p><strong>We\u2019re eyeing regional expansion<\/strong> and to begin exploring different Arab and African countries to have projects outside of Egypt. Until now, we published 30 international research papers of 13 entirely new prehistoric species. We made many other discoveries between Mansourasaurus and the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/787267bf-09cc-456a-bdf5-7811f93b6694\">four legged whale Phiomicetus<\/a>; I was the senior author of the research that was just published.<\/p>\n<p><strong>The first thing I do when I get up in the morning is to have my cup of coffee. <\/strong>I always dedicate some time to get in touch with my students; we talk about science more than anything else. I then go to the university. My life is summed up in research writing, reviewing my students\u2019 projects, presenting new discoveries, supervising master\u2019s or PhD thesis. This is pretty much how the rest of my day looks like. I can go on trips with my students and spend weeks in the field either looking for or collecting a new discovery.<\/p>\n<p><strong>I am responsible for documenting the prehistoric life of Egypt<\/strong> \u2014 I never collect anything from my discoveries.<\/p>\n<p><strong>I don\u2019t really \u201cswitch off\u201d from work:<\/strong> When I\u2019m not working I\u2019m contemplating my next move at work and future plans. Even when the rest of the world was confined to their homes during the lockdown, the desert was our quarantine while we worked in isolation. We find our joy in science. Our lab is our escape from the mess of the outside world. I love watching scientific documentaries to give me inspiration and push me to pursue international standards in everything I do.<\/p>\n<p><strong>\u201cWhat you speak is what you read\u201d:<\/strong> My master\u2019s degree supervisor used to tell me that and it really clicked because I think it is true that the more you read, your linguistic and scientific skills will only make you talk more eloquently.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hesham-sallam\/\">Hesham Sallam<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/my-morning-routine\/\">MY MORNING ROUTINE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556204\" 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\/14\/your-essential-business-calendar-for-14-october-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556204\" class=\"content-area-description single-story post-556204 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>14-22 October (Thursday- Friday): <a href=\"http:\/\/elgounafilmfestival.com\/\">El Gouna Film Festival<\/a>.<\/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>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.<\/p>\n<p>14-15 October (Thursday-Friday): <a href=\"https:\/\/au.int\/en\/newsevents\/20211014\/39th-ordinary-session-executive-council\">The Ordinary Session of the Executive Council of the African Union<\/a>, African Union Headquarters, Addis Ababa, Ethiopia.<\/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 (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>15-21 November (Monday-Sunday): <a href=\"https:\/\/www.intrafricantradefair.com\/en\">Intra-African Trade Fair 2021<\/a>, Durban, KwaZulu-Natal, South Africa.<\/p>\n<p>16-17 November (Tuesday-Wednesday):<a href=\"https:\/\/africafintechsummit.com\">Africa fintech summit<\/a>, Cairo.<\/p>\n<p>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>18-20 October 2022 (Tuesday-Thursday): Mediterranean Offshore Conference, Alexandria, Egypt.<\/p>\n<p><strong>**Note to readers:<\/strong> Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish below between the actual holiday and its observance.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":556176,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-556175","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"d8481879-6a8d-4bc0-b1ba-8e9995d61642","teaser":"","photo_url":"https:\/\/ent.news\/2021\/10\/153.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\u0650 We go one on one with the Finance Ministry\u2019s Ahmed Kouchouk. 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