{"id":556959,"date":"2021-09-01T04:14:09","date_gmt":"2021-09-01T04:14:09","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=556959"},"modified":"2025-12-16T01:30:15","modified_gmt":"2025-12-16T01:30:15","slug":"enterprise-amethis-hits-first-close-on-fund-with-big-egypt-earmark-amazon-opens-mega-facility-outside-cairo","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/enterprise-amethis-hits-first-close-on-fund-with-big-egypt-earmark-amazon-opens-mega-facility-outside-cairo\/","title":{"rendered":"Enterprise Amethis hits first close on fund with big Egypt earmark + Amazon opens mega-facility outside Cairo"},"content":{"rendered":"<section id=\"556961\" 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=\"556961\">\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\/09\/01\/this-morning-youssef-boutros-ghalis-assets-are-unfrozen-aeroflot-opens-ticket-sales-for-direct-flights-from-moscow-to-egypts-red-sea-coast\/\">\r\n                            THIS MORNING: Youssef Boutros Ghali\u2019s assets are unfrozen + Aeroflot opens ticket sales for direct flights from Moscow to Egypt\u2019s Red Sea coast                        <\/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 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              <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556961\" class=\"content-area-description single-story post-556961 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-afghanistan tag-apple tag-aviation tag-covid-19 tag-enterpriseam tag-eu tag-facebook tag-google tag-tourism 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, wonderful people, and welcome to September <\/strong>\u2014 a month full of new beginnings and new potential as the kiddies trudge back to school, businesses start planning for 2022, and we all look forward to fall and winter weather that is the envy of countries around the world.<\/p><p><strong>THE BIG STORY here at home? Lots of investment and M&amp;A news. <\/strong>Private equity outfit Amethis is looking at Egyptian SMEs after reaching a USD 101 mn first close on a fund \u2014 and will open an office in Egypt given how attractive the local market is. Meanwhile, Amazon has inaugurated a warehouse in 10 Ramadan. Meanwhile, a state-owned fund has acquired a 49% stake in the film studio behind the first made-in-Egypt flick to hit Netflix. We have chapter and verse on all three stories and more in this morning\u2019s news well.<\/p><p><a id=\"tldr-story-06\" class=\"content-anchor\"><\/a> <strong>From the Dept. of Good News #1: <\/strong><strong>Youssef Boutros Ghali\u2019s assets have been unfrozen<\/strong> after the Illicit Gains Authority concluded there was no basis for a criminal case against the Mubarak-era finance minister, Al Masry Al Youm <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2407427\">reported<\/a>. Boutros Ghali was a model civil servant whose smart, technocratic policymaking saw Egypt take long strides toward widening the tax base at the same time as smart policy reforms he enacted made it easier and more attractive to simply pay the taxman his due.<\/p><p><strong>From the Dept. of Good News #2:- Russian flag carrier Aeroflot has opened ticket sales <\/strong><strong>for direct flights from Moscow to Hurghada and Sharm El Sheikh, <\/strong>with the first flight set to take off on 1 October, according to a statement picked up by Russian state news agency <a href=\"https:\/\/tass.com\/non-political\/1332239\">Tass<\/a>. Aeroflot will operate one daily flight from Moscow to each of the two resort towns.<\/p><p><strong>S7 Airlines is also set to run two weekly flights between Moscow and Sharm<\/strong> starting 9 October and will run one other direct flight each week to Hurghada starting 5 October, <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2407928\">Al Masry Al Youm<\/a> reports. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/520695d4-931e-4ae8-98f9-a02ccf19a980\">Russian tourists returned to Red Sea resorts<\/a>\u00a0last month after a six-year interregnum.<\/p><p><strong>A brand new month awaits:<\/strong> Here are the key news triggers for the first two weeks of September:<\/p><ul>\n<li><strong>PMI:<\/strong> August\u2019s PMI figures for Egypt, KSA and the UAE will land on Sunday, 5 September.<\/li>\n<li><strong>Foreign reserves:<\/strong> The central bank will release foreign reserves figures for August sometime next week.<\/li>\n<li><strong>Inflation:<\/strong> Inflation data for August will drop next week.<\/li>\n<li><strong>Interest rates:<\/strong> The Central Bank of Egypt will meet to review interest rates on Thursday, 16 September.<\/li>\n<\/ul><p><strong>THE BIG STORY ABROAD- US President Joe Biden is mounting a blunt defense of his <\/strong><strong>decision to declare the war in Afghanistan over. <\/strong>The news comes as the European Union said it is planning an EUR 600 mn humanitarian aid package for the country\u2019s neighbors to help them cope with a potential wave of refugees fleeing Taliban rule, the <a href=\"https:\/\/www.ft.com\/content\/c3688ac7-f7e0-473c-98ea-91735e3278d5\">Financial Times<\/a>. Meanwhile, the <a href=\"https:\/\/www.wsj.com\/articles\/afghanistan-u-s-withdrawal-china-russia-power-relations-11630421715\">WSJ<\/a> thinks that \u201cin leaving Afghanistan, the US has reshuffled global power relations\u201d \u2014 to the delight of Beijing and Moscow. The US pullout also leads the front pages of the <a href=\"https:\/\/www.washingtonpost.com\/politics\/biden-war-over-afghan-rescue\/2021\/08\/31\/a388b88e-0a76-11ec-9781-07796ffb56fe_story.html\">Washington Post<\/a>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-08-31\/biden-hails-historic-afghanistan-airlift-as-he-marks-end-of-war\">Bloomberg<\/a> and <a href=\"https:\/\/www.reuters.com\/world\/exclusive-call-before-afghan-collapse-biden-pressed-ghani-change-perception-2021-08-31\/\">Reuters<\/a>.<\/p><p><strong>A close second: The fraud trial of Theranos founder Elizabeth Holmes got underway <\/strong><strong>yesterday <\/strong>when jury selection began as scheduled. The story is getting plenty of ink from <a href=\"https:\/\/www.ft.com\/content\/3be72070-bc6a-4181-8ae4-a729758511ce\">the FT<\/a> and <a href=\"https:\/\/www.wsj.com\/articles\/jury-selection-begins-in-theranos-founder-elizabeth-holmess-trial-11630402202?mod=hp_lead_pos2\">the Journal<\/a>.<\/p><p><strong>Closer to home: The UAE and Turkey are still mending fences<\/strong>, with the latest (very high profile) sign being Abu Dhabi Crown Prince Mohammed bin Zayed Al Nahyan taking a call from the guy in Ankara, <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/turkeys-erdogan-holds-talks-with-de-facto-uae-leader-2021-08-31\/\">Reuters<\/a> and <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-08-31\/turkey-s-erdogan-holds-call-with-uae-leader-as-tensions-ease?sref=mmeFTDW1\">Bloomberg<\/a> report.<\/p><p><strong>What do you do when you\u2019re a finance editor and the rest of the world is paying <\/strong><strong>attention to life and death in Afghanistan? Waffle. <\/strong>What goes up must come down, we get it. But the waffle in this story from CNBC (headline: <a href=\"https:\/\/www.cnbc.com\/2021\/08\/31\/there-are-mounting-risks-that-make-september-a-potentially-hazardous-time-for-stocks.html\">There are mounting risks that make September a potentially hazardous time for stocks<\/a>) is ridiculous. Why will the market correct? Covid, sure. But also: \u201cStocks are down more often than they are up in September, and after seven months of gains, it\u2019s possible the market could see a pullback.\u201d Trenchant analysis at its best.<\/p><p><strong>IN CASE YOU MISSED IT-<\/strong><\/p><ul>\n<li><strong>From the Dept. of the Obvious:<\/strong> Short-term thinking isn\u2019t going to cut it when it comes to preventing a climate disaster, according to the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/de687105-679d-43aa-95aa-27602f321469\">ex-CEO of the largest sovereign fund in the world<\/a>, who hopes that investors start being more sensible with their ESG strategies.<\/li>\n<li><strong>In the black:<\/strong> Orascom Financial <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a9123ab8-0be5-49b8-b92a-46fa456e5b51\">generated net income of EGP 36.7 mn<\/a> since separating from Orascom Investment late last year.<\/li>\n<li><strong>Mini IPO Watch:<\/strong> Odin Investments\u2019 real estate investment firm Emerald is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a9123ab8-0be5-49b8-b92a-46fa456e5b51\">planning to IPO on the Nilex by next month<\/a> with a 10.5% stake sale.<\/li>\n<\/ul><p><strong>MORNING MUST READ- Google is postponing its workers\u2019 return from the office <\/strong><strong>\u2014 for the third time \u2014 until 2022:<\/strong> The tech giant has once again pushed back the date when its employees are required to report to the office until next January amid a resurgence of covid-19 cases around the world, according to <a href=\"https:\/\/blog.google\/inside-google\/company-announcements\/extending-our-voluntary-return-office\/amp\/\">a Google blog post<\/a> yesterday. Google had previously announced return-to-office dates as <a href=\"https:\/\/www.cnbc.com\/2020\/12\/14\/google-ceo-email-delays-return-to-sept-2021-no-permanent-remote-work.html\">1 September<\/a> and <a href=\"https:\/\/apnews.com\/article\/lifestyle-technology-business-health-coronavirus-pandemic-3d1445717752d238d379af8c565b4283\">18 October<\/a> of this year \u2014 and had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/93e98def-5de8-43b6-9fad-709e2220c9e3\">mandated vaccines<\/a> for all staff returning to the office. Other big tech firms including <a href=\"https:\/\/www.cnbc.com\/2021\/08\/12\/facebook-delays-return-to-office-until-january-2022-for-us-some-international-employees.html\">Facebook<\/a> and <a href=\"https:\/\/www.cnbc.com\/2021\/08\/20\/apple-delays-return-to-office-until-january-as-covid-cases-surge.html#:~:text=Editorial%20%7C%20Getty%20Images-,Apple%20staff%20won't%2520be%2520returning%2520to%2520the%2520office%2520until,go%2520back%2520into%2520the%2520office.\">Apple<\/a> have also told employees they will not be required to work in person until at least January.<\/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 class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/Web-view-01.jpg?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development as well as social infrastructure such as health and education.<\/p><p><strong>In today\u2019s issue: <\/strong>Prefab and modular construction are slowly making their way onto Egyptian building sites as a cost-effective and time-saving alternative to traditional construction. The two methods are being practiced by companies such as Qubix, Hilti, and Arabian Construction House. We sat down with them to learn more about the implications prefab and modular construction could have in Egypt, and what the demand looks like now.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/afghanistan\/\">Afghanistan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/apple\/\">Apple<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/aviation\/\">aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/facebook\/\">Facebook<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/google\/\">Google<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/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=\"556962\" 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=\"556962\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/01\/556962\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556962\" class=\"content-area-description single-story post-556962 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\/8\/SOMA-ENTERPRISE-COVEFINAL-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n<p>Dive into nature, where raw beauty reigns supreme. Wake up to breathtaking sunrises and enjoy a serene beach experience amongst family and friends at the Soma Coves beach. This is where you can fully immerse yourself into a picturesque vacation, any time of the year.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556963\" 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=\"556963\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/01\/amethis-hits-first-close-on-fund-with-big-egypt-earmark-amazon-inaugurates-10-ramadan-warehouse\/\">\r\n                            Amethis hits first close on fund with big Egypt earmark + Amazon inaugurates 10 Ramadan warehouse                        <\/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\/09\/01\/amethis-hits-first-close-on-fund-with-big-egypt-earmark-amazon-inaugurates-10-ramadan-warehouse\/\" 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 firm this week <a href=\"https:\/\/amethis.com\/en\/amethis-completes-first-closing-of-amethis-mena-fund-ii-at-usd-101mn\/\">announced<\/a> that it had reached an EUR 85 mn (USD 101) first close on its Amethis MENA Fund II (AMFII), 35-40% of which could be allocated to SMEs in Egypt, Amethis Investment Directors Toufic Khoueiry and Adnane Zerhouni told us.<\/p>\n<p><strong>Who\u2019s in?<\/strong> <a href=\"https:\/\/www.eib.org\/en\/projects\/loans\/all\/20190409\">The European Investment Bank<\/a> (EIB) and <a href=\"https:\/\/www.ebrd.com\/work-with-us\/projects\/psd\/51424.html\">the European Bank for Reconstruction<\/a><a href=\"https:\/\/www.ebrd.com\/work-with-us\/projects\/psd\/51424.html\">and Development<\/a> (EBRD) have both committed EUR 20 mn, while <a href=\"https:\/\/disclosures.ifc.org\/project-detail\/SII\/44777\/amethis-mena-fund-ii-s-c-a-sicav-raif\">the International Finance Corporation<\/a> (IFC) invested EUR 12.5 mn. Proparco is committed through the Agence Fran\u00e7aise de D\u00e9veloppement\u2019s <a href=\"https:\/\/www.proparco.fr\/en\/actualites\/choose-africa-launches-fisea-facility-new-eur-210m-investment-capacity-african-msmes\">Fisea+<\/a> facility.<\/p>\n<p><strong>The fund will target high-growth SMEs in the healthcare, tech, manufacturing and <\/strong><strong>services sectors<\/strong>, allocating EUR 5-15 mn for each investment. Rather than targeting startups, it is looking for more mature, profitable companies that are ready to take their growth to the next level, Zerhouni said. It is also looking at companies that are open to selling a majority stake of their business down the road, he added.<\/p>\n<p><strong>The story so far: <\/strong>Until now, the fund has only invested in a single company, <a href=\"https:\/\/amethis.com\/en\/amethis-invests-into-magriser-a-pioneer-in-micro-irrigation-systems-in-morocco\/\">announcing in<\/a><a href=\"https:\/\/amethis.com\/en\/amethis-invests-into-magriser-a-pioneer-in-micro-irrigation-systems-in-morocco\/\">March<\/a> an undisclosed investment in <a href=\"https:\/\/magriser.com\/\">Magriser<\/a>, a Moroccan firm specialized in micro-irrigation systems. It is currently in advanced talks with several other companies, one of which is Egyptian, Khoueiry said, declining to disclose further information.<\/p>\n<p><strong>This would be the firm\u2019s first investment in Egypt:<\/strong> While Amethis\u2019 first MENA-focused fund Amethis Maghreb Fund I focused on companies in Morocco and Tunisia, AMFII is targeting new markets in Egypt and Jordan.<\/p>\n<p><strong>Amethis sees Egypt as an increasingly strategic market and is looking to open a local <\/strong><strong>office<\/strong> thanks to its strong pipeline of opportunities, Khoueiry said, emphasizing the size of its market, its position in the region, its strong industrial base as well as Egypt being a prime recipient of private equity investment in North Africa. \u201cThe market is strategic enough that it warrants closer presence \u2026 we are actively looking to grow our presence there [Egypt].\u201d<\/p>\n<p><strong>IN OTHER INVESTMENT NEWS-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Amazon opens logistics facility, the first-of-its-kind in Africa, outside Cairo: <\/strong>Prime Minister Moustafa Madbouly was on hand yesterday for the opening of the facility in Tenth of Ramadan City, according to <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/213859080784520\">a Cabinet statement<\/a>. The 28k-sqm facility \u2014 the first of its kind in Africa \u2014 comes as part of Amazon\u2019s long-term plans to expand its footprint in Egypt and increase investment in the country\u2019s infrastructure, advanced technology and e-commerce sectors, while catering to Egypt\u2019s internet-based SMEs, VP of Amazon Middle East and North Africa Ronaldo Mouchawar said.<\/p>\n<p><strong>The e-commerce giant is investing more than EGP 1 bn in the Egyptian market<\/strong>, and runs more than 15 goods delivery stations nationwide, contributing to the creation of at least 3k jobs, according to Mouchawar. Amazon had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e1902cf1-dcf6-45d3-a65f-02ee50aa1ea2\">last year hinted<\/a> at exploring whether Egypt could be a hub for the manufacturing of its own-brand products and for exports to the wider region, saying it would also work on attracting more local manufacturers to Amazon\u2019s marketplace.<\/p>\n<p><strong>And Amazon.eg is launching later this year<\/strong>, in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0894f41d-ed5a-4431-a025-89ca27e3c172\">a move<\/a> that ultimately will replace Souq as Amazon\u2019s Egypt selling platform. The e-commerce giant had operated in Egypt through Souq since it <a href=\"https:\/\/enterprise.press\/stories\/2017\/07\/04\/amazon-has-completed-its-acquisition-of-souq-com\/\">acquired<\/a> the Dubai-based online retailer in 2017. Vendors on Souq can now <a href=\"https:\/\/sell.amazon.eg\/\">register<\/a> on the Amazon Seller Central to begin selling on Amazon.eg as soon as the site goes live.<\/p>\n<p><strong>ALSO-<\/strong> <strong>The Housing and Development Bank (HDB) will contribute some EGP 12.5 <\/strong><strong>mn for the construction of <\/strong><strong><a href=\"https:\/\/sta.edu.eg\/en\/\">Elsewedy Technical Academy<\/a><\/strong><strong>\u2019s (STA) third branch<\/strong> in Sadat City Industrial Zone under a cooperation protocol signed between the two sides yesterday, according to a statement picked up by <a href=\"https:\/\/bit.ly\/3yz5vKr\">Hapi Journal<\/a>. There are already two STA technical schools up and running in Egypt \u2014 both located in Tenth of Ramadan City \u2014 offering three-year preparatory school graduate certificates in technical education.<\/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\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mena\/\">MENA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/smes\/\">SMEs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556965\" 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=\"556965\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/01\/ergo-buys-49-stake-in-studio-behind-souad-paranormal\/\">\r\n                            Ergo buys 49% stake in studio behind Souad, Paranormal                        <\/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\/09\/01\/ergo-buys-49-stake-in-studio-behind-souad-paranormal\/\" 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\/09\/01\/ergo-buys-49-stake-in-studio-behind-souad-paranormal\/')\">\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\/09\/01\/ergo-buys-49-stake-in-studio-behind-souad-paranormal\/\">\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=Ergo buys 49% stake in studio behind Souad, Paranormal&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/01\/ergo-buys-49-stake-in-studio-behind-souad-paranormal\/\">\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\/09\/01\/ergo-buys-49-stake-in-studio-behind-souad-paranormal\/&title=Ergo buys 49% stake in studio behind Souad, Paranormal\">\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=Ergo+buys+49%25+stake+in+studio+behind+Souad%2C+Paranormal+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F01%2Fergo-buys-49-stake-in-studio-behind-souad-paranormal%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\/09\/01\/ergo-buys-49-stake-in-studio-behind-souad-paranormal\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/14.png?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"556966\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/01\/ergo-buys-49-stake-in-studio-behind-souad-paranormal\/14-png\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/14.png?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"14.png\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/14.png?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/14.png?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556965\" class=\"content-area-description single-story post-556965 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch tag-enterpriseam tag-ergo-media-ventures tag-film tag-film-clinic tag-ma-watch tag-mohammed-hefzy tag-national-investment-bank tag-ni-capital wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>State-owned media investment firm <\/strong><strong><a href=\"https:\/\/ergomv.com\/\">Ergo Media Ventures<\/a><\/strong><strong> will <\/strong><strong>acquire a 49% stake in TV and film production company Film Clinic<\/strong>, it said in an emailed <a href=\"https:\/\/ent.news\/2021\/9\/ERGO-FC-PR-En.pdf\">statement (pdf)<\/a> yesterday. The firm will invest a total of USD 5 mn in Film Clinic, a source with knowledge of the transaction told Enterprise, explaining that it will pay USD 1.8 mn for the equity stake. The balance of the USD 5 mn transaction value is finance for new projects.<\/p>\n<p><strong>Who owns what?<\/strong> The transaction is Ergo\u2019s first since it was established in 2018 by <a href=\"https:\/\/www.ayadyegypt.com\/\">Ayady<\/a><a href=\"https:\/\/www.ayadyegypt.com\/\">Investment and Development<\/a>, an investment company <a href=\"https:\/\/www.ayadyegypt.com\/index.php\/features\/key-features\/module-variations#\">owned<\/a> by state and quasi-state institutions including the National Investment Bank (NIB) and the Arab Investment Bank. The NIB\u2019s investment arm, NI Capital, manages Ergo.<\/p>\n<p><strong>Film Clinic is a production company<\/strong> established in 2005 by veteran Egyptian screenwriter and producer Mohamed Hefzy. It has been behind some of the most high-profile cinematic hits to come out of Egypt in recent years, including international critical successes Souad, 200 Meters, and Yomeddine. On the small screen, the company was the producer of Netflix\u2019s first Egyptian production, Paranormal, a well-received adaptation of Ahmed Khalid Tawfik\u2019s beloved supernatural thriller novels.<\/p>\n<p><strong>Advisers: <\/strong>PwC was financial advisor to Ergo, while Rizkana & Partners and Al Jallaf were legal counsel. Jurisera was legal counsel to Film Clinic.<\/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\/ergo-media-ventures\/\">Ergo Media Ventures<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/film\/\">film<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/film-clinic\/\">Film Clinic<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohammed-hefzy\/\">Mohammed Hefzy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-investment-bank\/\">National Investment Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ni-capital\/\">NI Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556967\" 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=\"556967\">\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\">Real estate<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/01\/sodic-prepares-to-restart-sales-collections-on-500-acre-west-cairo-plot\/\">\r\n                            SODIC prepares to restart sales, collections on 500-acre West Cairo plot                        <\/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\/09\/01\/sodic-prepares-to-restart-sales-collections-on-500-acre-west-cairo-plot\/\" 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\/09\/01\/sodic-prepares-to-restart-sales-collections-on-500-acre-west-cairo-plot\/')\">\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\/09\/01\/sodic-prepares-to-restart-sales-collections-on-500-acre-west-cairo-plot\/\">\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=SODIC prepares to restart sales, collections on 500-acre West Cairo plot&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/01\/sodic-prepares-to-restart-sales-collections-on-500-acre-west-cairo-plot\/\">\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\/09\/01\/sodic-prepares-to-restart-sales-collections-on-500-acre-west-cairo-plot\/&title=SODIC prepares to restart sales, collections on 500-acre West Cairo plot\">\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=SODIC+prepares+to+restart+sales%2C+collections+on+500-acre+West+Cairo+plot+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F01%2Fsodic-prepares-to-restart-sales-collections-on-500-acre-west-cairo-plot%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\/09\/01\/sodic-prepares-to-restart-sales-collections-on-500-acre-west-cairo-plot\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556967\" class=\"content-area-description single-story post-556967 post type-post status-publish format-standard hentry category-real-estate tag-enterpriseam tag-housing-ministry tag-new-urban-communities-authority tag-real-estate tag-sodic wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>SODIC is looking forward to the \u201cimminent\u201d resumption of sales and <\/strong><strong>collections on a <\/strong><strong>500-acre plot in West Cairo\u2019s New Zayed<\/strong>, a senior company official tells us. The upmarket real estate developer paused both collection and new sales earlier this year on <a href=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/sodicv2\/SODIC-June-2021-vf.pdf\">the plot<\/a><a href=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/sodicv2\/SODIC-June-2021-vf.pdf\">(pdf)<\/a> after the Housing Ministry proposed moving it to a new location. SODIC is developing the land in partnership with the New Urban Communities Authority (NUCA).<\/p>\n<p><strong>Why the change? <\/strong>It is necessary because of changes to \u201cNew Zayed area plans at large,\u201d SODIC <a href=\"https:\/\/ent.news\/2021\/8\/267638_1.pdf\">said in a disclosure (pdf)<\/a>.<\/p>\n<p><strong>The new plot, which is pending approval from NUCA\u2019s board of directors, is a bit <\/strong><strong>smaller at 440 acres \u2014 and probably better for SODIC. <\/strong>\u201cThe adjusted plot partially overlaps with the original plot and spans 440 acres, but with a higher efficiency that should allow for an increase in sellable BUA without compromising the project\u2019s features. The new land plot also enjoys better connectivity with the infrastructure being developed in the area\u201d \u2014 and is closer to SODIC West, the company official said.<\/p>\n<p><strong>\u201cExisting clients will be relocated in a way that meets the criteria on which they <\/strong><strong>bought<\/strong>,\u201d the official said, adding, \u201cThe new plot, though slightly smaller, has better efficiencies due to its shape and existing infrastructure, thus safeguarding the offering while not compromising returns. We are excited about the change and look forward to resuming sales and collections imminently.\u201d<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/housing-ministry\/\">Housing Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/new-urban-communities-authority\/\">New Urban Communities Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/real-estate\/\">real estate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sodic\/\">SODIC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556968\" 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=\"556968\">\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\">Automotive<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/01\/still-counting-cars\/\">\r\n                            Still counting cars                        <\/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\/09\/01\/still-counting-cars\/\" 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\/09\/01\/still-counting-cars\/')\">\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\/09\/01\/still-counting-cars\/\">\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=Still counting cars&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/01\/still-counting-cars\/\">\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\/09\/01\/still-counting-cars\/&title=Still counting cars\">\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=Still+counting+cars+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F01%2Fstill-counting-cars%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\/09\/01\/still-counting-cars\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/15.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"556969\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/01\/still-counting-cars\/15-jpg-12\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/15.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"15.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/15.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/15.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556968\" class=\"content-area-description single-story post-556968 post type-post status-publish format-standard has-post-thumbnail hentry category-automotive tag-amic tag-automotive tag-covid-19 tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Passenger car sales grew 43% y-o-y in July<\/strong>, with some 17.8k vehicles sold during the month, up from c. 12.5k in July 2020, according to figures from industry association Automotive Information Council (AMIC). On a monthly basis, sales decreased from 19.5k passenger vehicles <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/abdede88-70f5-4d6e-97c1-5b20eeb03a1c\">sold in June<\/a> 2021 \u2014 an almost 9% m-o-m drop in the number of cars sold.<\/p>\n<p><strong>THE CAVEAT- <\/strong>The annual growth figures aren\u2019t quite as impressive as they seem due to a low base effect. This time last year, auto sales had hit the skids as the government\u2019s lockdown measures caused a sharp drop in consumer demand. AMIC figures reflect data contributed by member distributors, who include most (but not all) industry participants.<\/p>\n<p><strong>Total auto sales \u2014 including busses and trucks \u2014 also increased c. 29% y-o-y to 23.5k vehicles in July.<\/strong> The lower sales volume month on month \u2014 26.2k units were sold in June \u2014 reflects a full week of holidays in July thanks to Eid Al Adha.<\/p>\n<p><strong>Bus and truck sales saw mixed results:<\/strong> Truck sales rose 10.4% y-o-y to over 3.7k in July, from 3.4k in the same month last year \u2014 down from 5k trucks sold <a href=\"https:\/\/bit.ly\/3t00sBz\">in June<\/a> as corporations took a full week off in July. Bus sales were down both y-o-y (-23%) and m-o-m (-12%) with nearly 1.9k units sold.<\/p>\n<p><strong>Sales fell as much as 26% at the height of the covid-19 lockdown in April of last year<\/strong> as dealerships were shuttered and consumers deferred purchases. Despite that, AMIC figures for FY2020 showed that, overall, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/74801bf9-ba28-4b78-b3eb-2a78b9161449\">sales rose last year<\/a> \u2014 even as the pandemic forced a partial lockdown on the economy.<\/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\/amic\/\">AMIC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556970\" 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=\"556970\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/01\/amer-group-appoints-yet-another-new-ceo\/\">\r\n                            Amer group appoints yet another new CEO                        <\/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\/09\/01\/amer-group-appoints-yet-another-new-ceo\/\" 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\/09\/01\/amer-group-appoints-yet-another-new-ceo\/')\">\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\/09\/01\/amer-group-appoints-yet-another-new-ceo\/\">\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=Amer group appoints yet another new CEO&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/01\/amer-group-appoints-yet-another-new-ceo\/\">\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\/09\/01\/amer-group-appoints-yet-another-new-ceo\/&title=Amer group appoints yet another new CEO\">\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=Amer+group+appoints+yet+another+new+CEO+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F01%2Famer-group-appoints-yet-another-new-ceo%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\/09\/01\/amer-group-appoints-yet-another-new-ceo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556970\" class=\"content-area-description single-story post-556970 post type-post status-publish format-standard hentry category-moves tag-amer-group tag-enterpriseam tag-moves tag-spe-capital wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Private equity firm <strong>SPE Capital<\/strong> has promoted <strong>Ahmed El Oraby<\/strong> (<a href=\"https:\/\/www.linkedin.com\/in\/ahmed-eloraby-44707a10\">LinkedIn<\/a>) to partner, the firm announced on its <a href=\"https:\/\/www.spe-capital.com\/2021\/08\/30\/ahmed-el-oraby\/\">website<\/a>. El Oraby initially joined the firm in 2020 as a principal from Ezdehar Management and prior to that he was an executive director at JPMorgan.<\/p>\n<p><strong>The revolving door at Amer keeps spinning:<\/strong> Saad Rabie has been appointed as Amer Group\u2019s CEO and managing director, according to <a href=\"https:\/\/ent.news\/2021\/8\/%D8%B9%D8%A7%D9%85%D8%B1-%D9%85%D8%AC%D9%84%D8%B3-31-8-2021.pdf\">an EGX filing (pdf)<\/a>. Rabie will succeed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dcf53ab3-59ed-4e9c-a850-d808836295fd\">Riad Refaat<\/a>, who has been in this position for only four months. Refaat\u2019s predecessor <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7a4ebf17-9456-4467-9cd3-781dd92784d0\">Khaled Hassan<\/a> wasn\u2019t at the firm long either, lasting only a few weeks in his position.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/amer-group\/\">Amer Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/moves\/\">moves<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/spe-capital\/\">SPE Capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556971\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"556971\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/01\/556971\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556971\" class=\"content-area-description single-story post-556971 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class=\"web-image\"><a href=\"https:\/\/www.sodic.com\/\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/Sodic-June-MV-Roller-1600px.jpg?ssl=1\" alt=\"enterprise\"><\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556972\" 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=\"556972\">\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\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/01\/plans-for-new-natgas-networks-and-yacht-tourism-on-the-airwaves\/\">\r\n                            Plans for new natgas networks and yacht tourism on 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\/09\/01\/plans-for-new-natgas-networks-and-yacht-tourism-on-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\/09\/01\/plans-for-new-natgas-networks-and-yacht-tourism-on-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\/09\/01\/plans-for-new-natgas-networks-and-yacht-tourism-on-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=Plans for new natgas networks and yacht tourism on the airwaves&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/01\/plans-for-new-natgas-networks-and-yacht-tourism-on-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\/09\/01\/plans-for-new-natgas-networks-and-yacht-tourism-on-the-airwaves\/&title=Plans for new natgas networks and yacht tourism on 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=Plans+for+new+natgas+networks+and+yacht+tourism+on+the+airwaves+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F01%2Fplans-for-new-natgas-networks-and-yacht-tourism-on-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\/09\/01\/plans-for-new-natgas-networks-and-yacht-tourism-on-the-airwaves\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556972\" class=\"content-area-description single-story post-556972 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-emaar-misr tag-enterpriseam tag-hala-el-said tag-last-nights-talk-shows tag-marassi tag-mohamed-alabbar tag-oil-ministry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>The talking heads were focused yesterday on a cooperation protocol <\/strong><strong>between the Planning and Oil Ministries for financing the implementation of natgas networks in rural areas<\/strong> across Egypt: The first of three phases of the project will cost state coffers some EGP 17 bn, coming as part of the government\u2019s Decent Life initiative, Planning Minister Hala El Said told reporters on Sada El Balad TV (<a href=\"https:\/\/www.facebook.com\/watch\/?v=983808462175959\">watch, runtime: 4:08<\/a>) last night. Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=ThvEzmZhqu8\">watch, runtime: 1:12<\/a>) also had coverage.<\/p>\n<p><strong>MBC Masr\u2019s Sherif Amer interviewed Emaar CEO Mohamed Alabbar, <\/strong>who showcased his company\u2019s latest addition to its Sahel summer destination \u2014 Marassi Marina and Yacht Club. This is the first international marina on the North Coast, Alabbar said, and was developed at a cost of EGP 24 bn. The Emaar boss said the facility has berths for at least 260 yachts (<a href=\"https:\/\/www.youtube.com\/watch?v=g2vBN-s0aGc\">watch, runtime: 5:45<\/a>). You can watch the full interview here (<a href=\"https:\/\/www.youtube.com\/watch?v=0H_gz181Y6E\">watch, runtime: 22:41<\/a>).<\/p>\n<p><strong>Also on the airwaves last night: Security forces rescued an abducted eight-year-old child <\/strong>within hours of his having been kidnapped in Gharbia and returned him to his family safely (<a href=\"https:\/\/www.facebook.com\/MoiEgy\/videos\/563237458158265\">watch, runtime: 1:57<\/a>). CCTV footage captured the three kidnappers, who wanted to coerce the family into paying a ransom for his return before their arrest yesterday. Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=u13ca1dpheU\">watch, runtime: 5:52<\/a>), Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=Q8BCigiBaAs\">watch, runtime: 33:45<\/a>), Yahduth Fi Masr (<a href=\"https:\/\/www.youtube.com\/watch?v=zsAIhiLVkCE\">watch, runtime 7:48<\/a>) and Ala Mas\u2019ouleety (<a href=\"https:\/\/www.facebook.com\/watch\/?v=1214881142311973\">watch, runtime: 7:44<\/a>) all took note of the incident.<\/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\/emaar-misr\/\">Emaar Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hala-el-said\/\">Hala El Said<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/marassi\/\">Marassi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-alabbar\/\">Mohamed Alabbar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oil-ministry\/\">Oil Ministry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556973\" 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 !important;}.stk-a38cfb2 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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-19p8dkg\" data-v=\"4\" data-block-id=\"19p8dkg\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-19p8dkg-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-19p8dkg-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\/240923.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/efghldg.com\/en\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27488.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Realize More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-960yjg4\" data-v=\"4\" data-block-id=\"960yjg4\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-960yjg4-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-960yjg4-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240924.png?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.sodic.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27487.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Live More<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-rio6jct\" data-v=\"4\" data-block-id=\"rio6jct\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-rio6jct-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-rio6jct-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-idaw8nw\" data-v=\"4\" data-block-id=\"idaw8nw\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-idaw8nw-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-idaw8nw-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\">8<\/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\/09\/01\/vaccine-city-and-human-rights-lead-the-foreign-press\/\">\r\n                            Vaccine city and human rights lead the foreign press                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/01\/vaccine-city-and-human-rights-lead-the-foreign-press\/\" 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\/09\/01\/vaccine-city-and-human-rights-lead-the-foreign-press\/')\">\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\/09\/01\/vaccine-city-and-human-rights-lead-the-foreign-press\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li 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class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Vaccine+city+and+human+rights+lead+the+foreign+press+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F01%2Fvaccine-city-and-human-rights-lead-the-foreign-press%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/01\/vaccine-city-and-human-rights-lead-the-foreign-press\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556974\" class=\"content-area-description single-story post-556974 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-archaeology tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Egypt\u2019s vaccine ambitions are in the foreign press: <\/strong>Egypt\u2019s ambitious plans to produce as many as 1 bn vaccine doses annually at its new Vacsera facility, as well as a partnership with a European vaccine-maker is getting ink in <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/egypt-ramps-up-local-vaccine-production-with-eye-exports-2021-08-31\/\">Reuters<\/a>. Also making news: This week\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5d369f9f-1757-4ff4-92a6-7175a4738aaa\">release<\/a> of three public figures who had spent over a year in pre-trial detention is still getting attention from the <a href=\"https:\/\/www.washingtonpost.com\/national\/world-digest-aug-30-2021\/2021\/08\/30\/9bbee000-099b-11ec-a6dd-296ba7fb2dce_story.html\">Washington Post<\/a>.<\/p>\n<p><strong>Also making headlines: <\/strong><\/p>\n<ul>\n<li><strong>Don\u2019t buy Egyptian antiquities, even the fake ones<\/strong>, warned art crime professor Erin Thompson in the <a href=\"https:\/\/www.nydailynews.com\/opinion\/ny-oped-egyptian-antiquities-fake-20210831-xxhxmgzydjhz3c52kg53qftwae-story.html\">NY Daily News<\/a>, warning that sales of fake artefacts only feed the black market in looted heritage.<\/li>\n<li><strong>Egyptian-born, Milan-based model and influencer Aya Mohamed<\/strong>, AKA <a href=\"https:\/\/www.instagram.com\/milanpyramid\/?utm_source=ig_embed&ig_rid=7150337c-9e7a-44d2-90c2-d76bebe4cfe9\">@milanpyramid<\/a>, who has worked with Gucci and Prada was profiled by <a href=\"https:\/\/www.harpersbazaararabia.com\/featured-news\/how-one-egyptian-content-creator-is-redefining-italian-modest-fashion-through-the-power-of-social-media\">Harper\u2019s Bazaar Arabia<\/a> for her new project designing luxury headscarves.<\/li>\n<li><strong>Priests in Ancient Egypt <\/strong>were banned from consuming onions for fear they would break their vows of celibacy, <a href=\"https:\/\/www.theguardian.com\/food\/2021\/aug\/31\/suggestive-veg-why-a-rude-carrot-can-spark-sheer-joy-from-ancient-egypt-to-today\">the Guardian<\/a> reports.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/archaeology\/\">archaeology<\/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=\"556975\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556976\" 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=\"556976\">\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\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/01\/spmd-threatens-legal-action-in-response-to-allegations-of-market-manipulation\/\">\r\n                            SPMD threatens legal action in response to allegations of market manipulation                        <\/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\/09\/01\/spmd-threatens-legal-action-in-response-to-allegations-of-market-manipulation\/\" 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\/09\/01\/spmd-threatens-legal-action-in-response-to-allegations-of-market-manipulation\/')\">\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\/09\/01\/spmd-threatens-legal-action-in-response-to-allegations-of-market-manipulation\/\">\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=SPMD threatens legal action in response to allegations of market manipulation&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/01\/spmd-threatens-legal-action-in-response-to-allegations-of-market-manipulation\/\">\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\/09\/01\/spmd-threatens-legal-action-in-response-to-allegations-of-market-manipulation\/&title=SPMD threatens legal action in response to allegations of market manipulation\">\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=SPMD+threatens+legal+action+in+response+to+allegations+of+market+manipulation+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F01%2Fspmd-threatens-legal-action-in-response-to-allegations-of-market-manipulation%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\/09\/01\/spmd-threatens-legal-action-in-response-to-allegations-of-market-manipulation\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556976\" class=\"content-area-description single-story post-556976 post type-post status-publish format-standard hentry category-also-on-our-radar tag-also-on-our-radar tag-arab-african-international-bank tag-banque-du-caire tag-banque-misr tag-blom-bank tag-cib tag-colliers-international tag-debt tag-egyptian-arab-land-bank tag-enterpriseam tag-kima tag-national-bank-of-egypt tag-speed-medical tag-tatweer-misr 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_408146\"\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\/408144.svg\" alt=\"\" class=\"wp-image-408144\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><strong>Speed Medical responds: <\/strong>Speed Medical issued a <a href=\"https:\/\/ent.news\/2021\/8\/Speed-medical.pdf\">statement (pdf)<\/a> threatening to take legal action for possible defamation against any media outlet that covers allegations of market manipulation made by an unnamed shareholder. The dust up comes after Speed Medical said in late August, in an unusually frank regulatory filing, that it was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dd42a6b4-c0fc-4b31-b54a-d58ce34e90ac\">backing away<\/a> from its announced 100% acquisition of Prime Speed. Prime Speed shares came under selling pressure after Speed Medical called off the transaction.<\/p><p><strong>A call for investors:<\/strong> A consortium including CIB and Colliers International will begin promoting Tatweer Misr\u2019s education project in Bloomfields to investors this month, Colliers International's Country Director, Karim Helal told us. Investments will be made through the purchase of shares in a yet-to-be-named Tatweer Misreducational platform. The company is aiming to raise somewhere between EGP 2-3 bn though both debt and equity for the project\u2019s first phase.<\/p><p><strong>Al Ahly Sabbour Development is studying the IPO of some of its shares on the <\/strong><strong>EGX<\/strong>, Chairman Ahmed Sabbour said during a press conference yesterday, <a href=\"https:\/\/bit.ly\/38vObeO\">Masrway<\/a> reports. The size and timing of the offering is yet to be determined, according to Sabbour.<\/p><p><strong>Luxor\u2019s newly restored Wekalet Al Gedawy caravanserai opened its doors earlier <\/strong><strong>this week<\/strong>, as part of USAID\u2019s <a href=\"https:\/\/www.facebook.com\/USAIDEgypt\/posts\/4516295821756481?__tn__=-R\">USD 8.6 mn revitalization project<\/a> in Esna, Luxor.<\/p><p><strong>Egyptian Chemical Industries (Kima) will restructure its outstanding c. EGP 6.6 bn <\/strong><strong>syndicated facility<\/strong> with several Egyptian banks under a MoU signed yesterday, <a href=\"https:\/\/dailynewsegypt.com\/2021\/08\/31\/kima-restructures-292m-egp-1-92bn-syndicated-loan\/\">the Daily News Egypt<\/a> reports. State-owned Banque Misr and National Bank of Egypt, alongside Arab African International Bank, were arrangers, underwriters and bookrunners for the transaction, while Banque du Caire, Blom Bank Egypt and the Egyptian Arab Land Bank were co-underwriters, and Beltone Investment Banking acted as the sole financial advisor. The facility will be used to finance Kima\u2019s Ammonia and Urea Industrial Complex in Aswan.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/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\/arab-african-international-bank\/\">Arab African International Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-du-caire\/\">Banque du Caire<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banque-misr\/\">Banque Misr<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/blom-bank\/\">Blom Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cib\/\">CIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/colliers-international\/\">Colliers International<\/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\/egyptian-arab-land-bank\/\">Egyptian Arab Land Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kima\/\">Kima<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-bank-of-egypt\/\">National Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/speed-medical\/\">Speed Medical<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tatweer-misr\/\">Tatweer Misr<\/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=\"556977\" 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=\"556977\">\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\">COVID WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/01\/weve-vaccinated-350k-travellers-in-the-past-2-weeks\/\">\r\n                            We\u2019ve vaccinated 350k travellers in the past 2 weeks                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/01\/weve-vaccinated-350k-travellers-in-the-past-2-weeks\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2021\/09\/01\/weve-vaccinated-350k-travellers-in-the-past-2-weeks\/')\">\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\/09\/01\/weve-vaccinated-350k-travellers-in-the-past-2-weeks\/\">\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=We\u2019ve vaccinated 350k travellers in the past 2 weeks&url=https:\/\/enterpriseam.com\/egypt\/2021\/09\/01\/weve-vaccinated-350k-travellers-in-the-past-2-weeks\/\">\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\/09\/01\/weve-vaccinated-350k-travellers-in-the-past-2-weeks\/&title=We\u2019ve vaccinated 350k travellers in the past 2 weeks\">\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=We%E2%80%99ve+vaccinated+350k+travellers+in+the+past+2+weeks+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2021%2F09%2F01%2Fweve-vaccinated-350k-travellers-in-the-past-2-weeks%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\/09\/01\/weve-vaccinated-350k-travellers-in-the-past-2-weeks\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556977\" class=\"content-area-description single-story post-556977 post type-post status-publish format-standard hentry category-covid-watch tag-covid-19 tag-enterpriseam tag-hala-zayed tag-kuwait tag-travel wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Some 350k Egyptians traveling abroad have been vaccinated against covid in the past two weeks<\/strong>, Health Minister Hala Zayed <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/213602184143543?__cft__[0]=AZULe16LY2Xnlz8t4qXIXjyu1gkUhGGx04QViAuxM5wn0XKvVMWFzzXDeZravPyipOrh6y_D0XtrVVTLjp31kCFsVxpNrAM8zuWA3ReHXr1_7JhQsJ9E87-eoIS95yzN4GoPUplqa5LRFYyUxDigWu8mmC2wYrCrXRJFin1abeo1sQ&__tn__=%2CO%2CP-R\">said during a meeting<\/a> with the Kuwaiti ambassador to Cairo yesterday. The vaccination drive offered expedited Johnson & Johnson-manufactured jabs to those embarking on cross-border travel and \u2014 exceptionally \u2014 to Egyptian travelers aged below 18 who intend on leaving the country for educational and health purposes.<\/p>\n<p><strong>The Health Ministry <\/strong><strong><a href=\"https:\/\/www.facebook.com\/egypt.mohp\/posts\/150236313954258\">reported<\/a><\/strong><strong> 279 <\/strong><strong>new covid-19 infections yesterday<\/strong>, up from 263 the day before. Egypt has now disclosed a total of 288,441 confirmed cases of covid-19. The ministry also reported 9 new deaths, bringing the country\u2019s total death toll to 16,736.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/covid-19\/\">covid-19<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hala-zayed\/\">Hala Zayed<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/kuwait\/\">Kuwait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/travel\/\">travel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556978\" 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=\"556978\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/01\/euro-inflation-hits-10-year-high-off-of-rising-food-and-industrial-prices\/\">\r\n                            Euro inflation hits 10-year high off of rising food and industrial prices                        <\/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\/09\/01\/euro-inflation-hits-10-year-high-off-of-rising-food-and-industrial-prices\/\" 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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Analysts <a href=\"https:\/\/www.ft.com\/content\/b8a58356-653e-49f3-9de0-6f102c70f714\">don\u2019t expect inflation to peak until November<\/a>, which is all somewhat inconvenient for the ECB, which has attempted to downplay this year\u2019s inflationary pressures as a passing phase, even as price rises have routinely overshot its predictions.<\/p><p><strong>The ECB still wants to stay loose:<\/strong> Policymakers aren\u2019t likely to tighten policy to curb the price rises anytime soon. They say current inflation is based on the \u201cone-off\u201d post-pandemic recovery and won\u2019t be sustained, pointing to weak underlying readings, including still-muted wage growth. In fact, the central bank is expecting years of sluggish price rises after the initial stimulus kick fades. As its chief economist told <a href=\"https:\/\/www.reuters.com\/article\/eurozone-economy-inflation\/euro-zone-inflation-surges-to-10-year-high-in-big-headache-for-ecb-idUSL4N2Q22BD\">Reuters<\/a>last week, the bank is therefore unlikely to waver from its bond-buying regime when it meets at the end of the week.<\/p><p><strong>Saudi renewable energy giant <\/strong><strong><a href=\"https:\/\/www.acwapower.com\/en\/\">Acwa Power<\/a><\/strong><strong>\u2019s IPO on Riyadh\u2019s stock exchange <\/strong><strong>could go to market very soon<\/strong>, with an eye to raising more than USD 1 bn in proceeds in a transaction that could value Acwa at at least USD 10 bn, unnamed sources in the know tell <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-08-31\/saudi-pif-backed-acwa-power-to-seek-more-than-1-billion-in-ipo?srnd=premium-middle-east&amp;sref=mmeFTDW1\">Bloomberg<\/a>. While a specific timeframe for when the Saudi sovereign fund-backed energy producer plans to close its IPO remains unknown, an announcement could be made as early as this week, though no final decision has been made and Acwa could still decide against the offering, the sources said. Acwa was earlier expected to pull the trigger on its planned IPO in <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-11-19\/saudi-wealth-fund-said-near-deal-to-boost-acwa-stake-before-ipo?sref=mmeFTDW1\">1H2021<\/a>, but then shelved its plans due to the covid disruption.<\/p><p><strong>Acwa is <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d45c8a48-c37c-4a61-a59c-2bb02fd3c762\">a significant player<\/a><\/strong><strong> in Egypt\u2019s wind energy sector <\/strong>and is looking for ways to deploy solar here to power <a href=\"https:\/\/www.acwapower.com\/news\/acwa-power-signs-an-mou-with-the-ministry-of-housing-and-egyptian-electricity-holding-to-develop-egypts-sustainable-water-desalination-sector\/\">desalination projects<\/a>.<\/p><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p> 11143.8<\/p>\n<\/td>\n<td>\n<p>-0.17% (YTD: +2.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.65<\/p>\n<\/td>\n<td>\n<p>Sell 15.75<\/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 15.65<\/p>\n<\/td>\n<td>\n<p>Sell 15.75<\/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>11,319.24<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: +30.3%)<\/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>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>7,684.62<\/p>\n<\/td>\n<td>\n<p>-% (YTD: +52.3%)<\/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>2,902.97<\/p>\n<\/td>\n<td>\n<p>+0.1% (YTD: +16.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,522.68<\/p>\n<\/td>\n<td>\n<p>-0.1% (YTD: +20.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,119.70<\/p>\n<\/td>\n<td>\n<p>-0.4% (YTD: +10.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 72.99<\/p>\n<\/td>\n<td>\n<p>-0.6%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 4.40<\/p>\n<\/td>\n<td>\n<p>+2.3%<\/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>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,817.90<\/p>\n<\/td>\n<td>\n<p>+0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 46,834.39<\/p>\n<\/td>\n<td>\n<p>-0.2% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 fell 0.2% at yesterday\u2019s close<\/strong> on turnover of EGP 1.6 bn (7.8% above the 90-day average). Regional investors were net sellers. The index is up 2.8% YTD.<\/p><p><strong>In the green: <\/strong>Fawry (+5.4%), Mopco (+1.9%) and Credit Agricole (+1.8%).<\/p><p><strong>In the red: <\/strong>Speed Medical (-8.2%), Qalaa Holding (-2.5%) and Egyptian Resorts Company (-2.4%).<\/p><p><strong>Major Asian benchmarks in Hong Kong, mainland China and Korea are all in the green this morning<\/strong> and futures suggest much of Western Europe and North America will follow suit at the opening bell later today.<\/p>\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/acwa-power\/\">ACWA Power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eat-just\/\">Eat Just<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inflation\/\">inflation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/planet-finance\/\">Planet Finance<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/venture-capital\/\">venture capital<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"556979\" 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=\"556979\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/01\/sisi-talks-investment-with-south-korean-defense-minister-in-historic-visit\/\">\r\n                            Sisi talks investment with South Korean defense minister in historic visit                        <\/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\/09\/01\/sisi-talks-investment-with-south-korean-defense-minister-in-historic-visit\/\" 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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Beyond defense cooperation, the two discussed opportunities to work together in manufacturing, tech and infrastructure. El Sisi and Suh also discussed potential investment and partnerships in Egypt\u2019s major development projects. Suh later <a href=\"https:\/\/www.mnd.go.kr\/user\/newsInUserRecord.action?siteId=mnd&page=1&newsId=I_669&newsSeq=I_12589&command=view&id=mnd_020500000000&findStartDate=&findEndDate=&findType=title&findWord=&findOrganSeq=\">met<\/a> with Egyptian Defense Minister Mohamed Zaki. Cairo was Suh\u2019s first leg of <a href=\"https:\/\/www.mnd.go.kr\/user\/newsInUserRecord.action?siteId=mnd&page=1&newsId=I_669&newsSeq=I_12587&command=view&id=mnd_020500000000&findStartDate=&findEndDate=&findType=title&findWord=&findOrganSeq=\">a six-day Middle East tour<\/a> that will take him to Oman next.<\/p>\n<p><strong>Cairo may hold the next round of ministerial-level meetings of Libya\u2019s <\/strong><strong>neighbors<\/strong>, a suggestion agreed upon unanimously by foreign ministers who concluded yesterday a two-day meeting in Algeria, the Algerian foreign ministry said in <a href=\"https:\/\/www.facebook.com\/MFAAlgeria\/photos\/pcb.178265057727276\/178264871060628\">a statement<\/a>. The gathering is part of a process that aims to reach a political resolution to the conflict between Tripoli\u2019s unity government and eastern Libyan leader Khalifa Haftar. Foreign Minister Sameh Shoukry <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/29855413-01bd-445f-a374-147d8381a6dd\">called<\/a> for \u201ccomprehensive and credible\u201d national elections in Libya to put an end to the country\u2019s transitional period and foreign ministers reiterated their call for the exit of all foreign forces from Libya. <strong>Shoukry held back-to-back meetings with his Libyan and Sudanese counterparts<\/strong> on the sidelines of the gathering.<\/p>\n<p><strong>The Egyptian-Qatari committee agreed to further strengthen bilateral ties in the <\/strong><strong>medium term<\/strong> in meetings held yesterday in Cairo, according to <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/145093967800458\">a Foreign Ministry statement<\/a>. The committee is tasked with follow-up on the implementation of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/036bdfbe-0680-448e-a011-b607497ac279\">Al Ula accord<\/a>. The meeting comes after President Abdel Fattah El Sisi and Qatari Emir Tamim bin Hamad Al Thani met in Baghdad <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bb784891-8641-423b-a337-b671a710eece\">on Saturday<\/a> for the first time since the reconciliatory pact this year ended an almost four-year Qatari diplomatic rift with Egypt and its Gulf neighbors.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/abdel-fattah-el-sisi\/\">Abdel Fattah El Sisi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/al-ula-declaration\/\">Al Ula declaration<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/algeria\/\">Algeria<\/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\/foreign-affairs\/\">foreign affairs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/libya\/\">Libya<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qatar\/\">Qatar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sameh-shoukry\/\">Sameh Shoukry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/security\/\">security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/south-korea\/\">South Korea<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull hardhat vertical-section wide-section wp-block-group issue-section\" id=\"556980\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27467.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly deep-dive into infrastructure in Egypt.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27479.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Wednesday in EnterpriseAM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/hardhat\/\">\r\n                            Read Hardhat                        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  <\/ul>\n    <\/div>\n        <\/div>                    <\/div>\r\n    \r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/prefab-and-modular-construction-are-making-their-way-to-egyptian-building-sites\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/16.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"556981\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/hardhats\/prefab-and-modular-construction-are-making-their-way-to-egyptian-building-sites\/16-jpg-11\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/16.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"16.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/16.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/16.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-556980\" class=\"content-area-description post-556980 hardhat type-hardhat status-publish has-post-thumbnail hentry tag-ahmed-turk tag-arabian-construction-house tag-dar-el-benaa tag-enterprise-hardhat tag-enterpriseam tag-environment tag-hilti tag-modular-construction tag-omar-essam tag-prefab tag-prefabricated-construction tag-qubix tag-youssef-farag wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-08\" class=\"content-anchor\"><\/a> <strong>Could prefabricated and modular construction be in Egypt\u2019s future? <\/strong>The construction sector is a major contributor to Egypt\u2019s economy, with the sector expected to grow at an average of <a href=\"https:\/\/enterprise.press\/hardhats\/egypts-construction-growth-slowed-2020-steady-recovery-sees-outperforming-regional-peers\/\">8.3% annually to 2029<\/a> and account for 30% of the MENA construction market. With the sector expanding in size and importance, alternative and more efficient methods of construction are slowly being introduced to Egypt\u2019s building sites. These include prefabricated (or prefab) and modular construction which have both been growing in popularity worldwide as a time-saving and cost-efficient alternative to traditional construction.<\/p>\n<p><strong>What are they exactly?<\/strong> Prefabricated buildings are those constructed with materials or entire structures built and prepared offsite in factories and then installed onsite as a finished product. This can range from a prefabricated component (such as a metal structure) or a panel (such as a wall) or even an entire room. The parts are then quickly assembled through intuitive and easy methods on site \u2014 think Ikea furniture setups, but on a much larger scale. Modular construction is similar but involves set standard building blocks that go together like Legos to create a final structure.<\/p>\n<p><strong>Some construction companies in Egypt are specializing in these techniques: <\/strong><a href=\"https:\/\/www.achturk.com\/\">Arabian Construction House<\/a> (ACH) offers prefabricated fiber wall and roof panels that can be used as \u201cblocks\u201d to quickly put together buildings, Vice Chairman Ahmed Turk explained. Also wanting a piece of the action, European firm <a href=\"https:\/\/www.hilti.com.eg\/en\/engineering\/MT-Systems\">Hilti<\/a> recently launched modular support structures in their local subsidiary Hilti Egypt, Channel Manager Omar Essam tells us. The metal structures form the foundation of entire buildings and come prefabricated to be connected through a simple twist and lock technique.<\/p>\n<p><strong>And of course there\u2019s <\/strong><strong><a href=\"https:\/\/www.qubixstudios.com\/\">Qubix<\/a><\/strong><strong>,<\/strong> which upcycles storage containers into usable spaces such as restaurants, offices, and homes that otherwise would be left to rust after their shipping life is over. At their 2.5k meter factory, the containers are fully brought to life including everything from decor to plumbing. Projects they\u2019ve undertaken include The Drive by The Waterway \u2014 which only took three months to complete, co-founder Youssef Farag tells Enterprise.<\/p>\n<p><strong>Time-saving and cost-efficient\u2026 What more could you want? <\/strong>Prefab allows you to build faster using fewer resources, increasing the ROI for firms, Farag explains. A <a href=\"https:\/\/ent.news\/2021\/8\/Modular-construction-from-projects-to-products-full-report-NEW.pdf\">2019 McKinsey study (pdf)<\/a> found that these techniques can cut construction speed by as much as 50% while lowering costs by 20%. Factory processes are quicker as set supply chains ensure speed and quality and constant testing. Meanwhile, sites can be prepared in parallel eliminating bottlenecks where construction would have to wait until the land is ready.<\/p>\n<p><strong>There are also potential environmental benefits: <\/strong>ACH claims its panels do not contain metals or concrete which are both highly polluting industries and the raw materials are all locally sourced, Turk tells us. ACH and Hilti also reduce waste during the construction process as everything comes pre-cut and needs little cement to be set up.<\/p>\n<p><strong>The global market for prefab buildings is expected to reach USD 153.7 bn by 2026 from USD 106.1 bn in 2020, <\/strong>according to a market study by <a href=\"https:\/\/www.prnewswire.com\/news-releases\/global-prefabricated-buildings-market-to-reach-153-7-billion-by-2026--301331348.html\">Global Industry Analysts<\/a>.<\/p>\n<p><strong>While we don\u2019t have market data for Egypt, demand for prefab and modular construction is evident, <\/strong>company reps tell us. Qubix expects y-o-y growth to hit 110% in 2021, Farag told us. The company is planning to roll out a new (and exciting) building technique in the coming months. Meanwhile, Hilti\u2019s prefab product launch received higher than expected demand, and the local office is planning on rolling out more prefab building systems in the coming period, Essam said.<\/p>\n<p><strong>Egypt\u2019s new cities provide ample potential for them: <\/strong>Demand for construction will boom in Egypt in the coming 10-15 years and Qubix aims to ride the wave, Farag says. The introduction of new cities such as New Alamein or the new administrative capital as well as increasing projects in transport and energy has helped the sector gain traction as an efficient way to fast track implementation, Essam says.<\/p>\n<p><strong>Potential applications extend beyond housing and real estate:<\/strong> Prefab has also shined in water projects conducted by the government such as water treatment and well building. ACH\u2019s fiber panels are considered resistant to water as the absence of metal avoids rusting which would otherwise result in yearly maintenance costs, Turk explains, adding that their main customers are oil companies who have facilities on the water.<\/p>\n<p><strong>But our adoption is still slower than our peers: <\/strong>In the case of ACH demand growth has been slower as most construction companies in Egypt still can\u2019t pinpoint the benefits of prefab, especially since building costs are cheap in the country. Since fiber panels are used in prefab buildings as an alternative to metals, demand for prefab is greatly tied to metals prices, Turk explains. Most of ACH\u2019s prefab demand comes from their export markets as other countries outpace Egypt in adopting the model. Farag also echoes that we have a long way to go and should look up to countries such as Singapore amidst our drive to more efficient construction.<\/p>\n<hr class=\"grey-line\" \/>\n<p><strong>Your top infrastructure stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Work on Riz to start by 2022: <\/strong>The Suez Canal Economic Zone will begin <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cfb3c632-b073-4f14-b065-94c7292c6771\">infrastructure work<\/a> on the Russian Industrial Zone (RIZ) by the beginning of next year.<\/li>\n<li><strong>Oil Ministry sets up a new methanol plant: <\/strong>A new state-owned petrochemicals company Misr Methanol and Petrochemicals <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d8dda647-67d3-430a-a518-b79805765cb2\">will be established<\/a>, with preliminary investments of USD 1.6 bn.<\/li>\n<li><strong>Orascom Construction triples y-o-y net income:<\/strong> The company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4ca40760-b427-460f-8dce-122cb96a049e\">reported<\/a> a USD 26.5 mn profit for the April-June period this year, up from USD 9.5 mn last year.<\/li>\n<li><strong>Altus to take a stake in Chilean copper mine<\/strong>: Naguib Sawiris-backed mining firm Altus Strategies completed the first close of an agreement that will see it<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/36f16444-b8ba-4b8b-9971-8d46c8a38624\">l take an 0.42% stake<\/a>in the net smelter return royalty of Chile\u2019s Caserones Copper Mine.<\/li>\n<li><strong>Egypt imports 1.6 bcm of natgas from Israel:<\/strong> Egypt <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/02db444b-a4f8-4ae3-8a3d-158cc708c41c\">has imported<\/a> 1.6 bcm of natural gas from Israel\u2019s Leviathan gas field during the first six months of the year, up from 0.4 bcm in the same period of 2020.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ahmed-turk\/\">Ahmed Turk<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/arabian-construction-house\/\">Arabian Construction House<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dar-el-benaa\/\">Dar El Benaa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/environment\/\">environment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hilti\/\">Hilti<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/modular-construction\/\">modular construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/omar-essam\/\">Omar Essam<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/prefab\/\">prefab<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/prefabricated-construction\/\">Prefabricated construction<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/qubix\/\">Qubix<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/youssef-farag\/\">Youssef Farag<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"556982\" 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\/09\/01\/your-essential-business-calendar-on-1-september-2021\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-556982\" class=\"content-area-description single-story post-556982 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>24 August-5 September (Tuesday-Sunday): Tokyo 2020 <a href=\"https:\/\/www.paralympic.org\">Paralympics<\/a>.<\/p>\n<p>September: Delegation of Russian companies to visit Russian Industrial Zone.<\/p>\n<p>1-3 September (Wednesday-Friday): <a href=\"https:\/\/digisignafrica.com\/\">Digi Sign Africa<\/a>, Cairo International Convention Centre, Cairo, Egypt.<\/p>\n<p>3-5 September (Friday-Sunday): The World Karate Federation will hold <a href=\"https:\/\/www.wkf.net\/news-center-new\/cairo-replaces-tashkent-as-host-of-2021-karate-1-premier-league\/1606\">the third competition<\/a> of the 2021 Karate 1-Premier League in Cairo.<\/p>\n<p>4 September (Saturday): The first <a href=\"https:\/\/cyprus-mail.com\/2021\/08\/26\/first-cyprus-egypt-intergovernmental-summit-on-september-4\/\">Egypt-Cyprus Intergovernmental Summit<\/a> is taking place in Cairo.<\/p>\n<p>5 September (Sunday): The updated date for EGX listed companies to institute the new mechanism for calculating closing share prices. The deadline was previously 2 September.<\/p>\n<p>5-7 September (Sunday-Tuesday): The <a href=\"https:\/\/www.arabsecurityconference.com\/\">Arab Security Conference<\/a>, The Nile Ritz-Carlton, Cairo, Egypt.<\/p>\n<p>7-8 September (Tuesday-Wednesday): Euromoney Conferences will host <a href=\"https:\/\/bit.ly\/3lpLeUO\">the GlobalCapital Sustainable and Responsible Capital Markets Forum 2021<\/a>, featuring Vice Minister of Finance Minister Ahmed Kouchouk.<\/p>\n<p>8-9 September (Wednesday-Thursday): <a href=\"https:\/\/ent.news\/2021\/8\/Press-release_ICF_arabic.pdf\">Egypt-International Cooperation Forum (ICF)<\/a>, Cairo<\/p>\n<p>7-9 September (Tuesday-Thursday): <a href=\"https:\/\/www.egyhealthexpo.com\/\">Egy Health Expo<\/a>, Al Manara International Conference, Cairo, Egypt.<\/p>\n<p>9 September (Thursday): <a href=\"https:\/\/devopsdays.org\/events\/2021-cairo\/welcome\/\">DevOpsDays Cairo 2021<\/a> is being organized by ITIDA and the Software Engineering Competence Center in cooperation with DXC Technology, IBM Egypt and Orange Labs.<\/p>\n<p>11-12 September (Saturday-Sunday):<a href=\"https:\/\/10times.com\/icess-egypt\">International Conferences on Economics and Social Sciences<\/a>, Cairo<\/p>\n<p>12 September (Sunday): International schools begin 2021-2022 academic year<\/p>\n<p>12-15 September (Sunday-Wednesday): Sahara Expo: the 33rd International Agricultural Exhibition for Africa and the Middle East.<\/p>\n<p>13-21 September (Monday-Tuesday): <a href=\"https:\/\/www.un.org\/en\/ga\/\">76th session of the general assembly<\/a>, New York<\/p>\n<p>15 September (Wednesday): The <a href=\"https:\/\/bit.ly\/3dp0wnB\">CFO Leadership & Strategy Summit<\/a> is taking place in Egypt.<\/p>\n<p>16 September (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>18 September (Saturday): Expiration of<a href=\"https:\/\/www.rudaw.net\/english\/middleeast\/iraq\/19092020\">United Nations Investigative Team<\/a> to Promote Accountability for Crimes Committed by Daesh\/ISIL<\/p>\n<p>21-22 September (Tuesday-Wednesday): The Federal Reserve meets to review interest rates.<\/p>\n<p>22-25 September (Wednesday-Saturday): <a href=\"https:\/\/www.cityscapeegypt.com\/en\/Home.html\">Cityscape Egypt<\/a>, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>30 September-2 October (Thursday-Saturday): Egypt Projects 2021 expo, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>30 September-8 October (Thursday-Friday): The Cairo International Fair, Cairo International Conference Center, Cairo, Egypt.<\/p>\n<p>30 September: Closing of 2021\u2019s first oil and gas <a href=\"https:\/\/eug.petroleum.gov.eg\/dp\/pages\/common\/BidroundHighlights.jsp\">tender<\/a> in the Gulf of Suez, Western Desert, and the Mediterranean.<\/p>\n<p>October: New legislative session begins \u2014 must be held by the first Thursday of October.<\/p>\n<p>October: Romanian President Klaus Iohannis <a href=\"https:\/\/bit.ly\/3z0gaic\">could visit Egypt<\/a> in mid this month to discuss ways to boost tourism cooperation between the two countries.<\/p>\n<p>1 October (Friday): Businesses importing goods at seaports will need to file shipping documents and cargo data digitally to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9bf7988d-19f6-45a6-ada1-65d7c23ec723\">the Advance Cargo Information (ACI) system<\/a>.<\/p>\n<p>1 October (Friday): Expo 2020 Dubai opens.<\/p>\n<p>1 October (Friday): State-owned companies and government service bodies selling goods and services to customers that <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/178309171006178\">have not yet signed on to the e-invoicing platform<\/a> will suffer a host of penalties, including removal from large taxpayer classification, losing access to government services and business, and losing subsidies.<\/p>\n<p>6 October (Wednesday): Armed Forces Day.<\/p>\n<p>7 October (Thursday): National holiday in observance of Armed Forces Day.<\/p>\n<p>9 October (Saturday): Public schools begin 2021-2022 academic year<\/p>\n<p>11-17 October (Monday-Sunday): <a href=\"https:\/\/www.worldbank.org\/en\/meetings\/splash\/annual\">IMF + World Bank Annual Meetings<\/a>.<\/p>\n<p>12-14 October (Tuesday-Thursday): Mediterranean Offshore Conference, Alexandria, Egypt.<\/p>\n<p>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>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>November: The French-Egyptian Business Forum is set to take place in the Suez Canal Economic Zone.<\/p>\n<p>November: Egypt will <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/163314772505618\">host another round of talks<\/a> to reach a potential Egyptian-Eurasian trade agreement, which can significantly contribute to increasing the volume of Egyptian exports to the Russia-led bloc that includes Armenia, Belarus, Kazakhstan and Kyrgyzstan.<\/p>\n<p>1-3 November (Monday-Wednesday): Egypt Energy exhibition on power and renewable energy, Egypt International Exhibition Center, Cairo, Egypt.<\/p>\n<p>2-3 November (Tuesday-Wednesday): The Federal Reserve meets to review interest rates.<\/p>\n<p>1-12 November (Monday-Friday): 2021 United Nations Climate Change Conference (COP26), Glasgow, United Kingdom.<\/p>\n<p>16-17 November (Tuesday-Wednesday):<a href=\"https:\/\/africafintechsummit.com\">Africa fintech summit<\/a>, Cairo.<\/p>\n<p>26 November-5 December (Friday-Sunday): <a href=\"https:\/\/www.facebook.com\/CairoFilms\/photos\/a.386668088207064\/1611462495727611\/\">The 43rd Cairo International Film Festival<\/a>.<\/p>\n<p>29 November-2 December (Monday-Thursday): Egypt Defense Expo.<\/p>\n<p>7-8 December (Tuesday-Wednesday): <a href=\"https:\/\/northafricatradefinance.com\/\">North Africa Trade Finance Summit<\/a>.<\/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>16 December (Thursday): The CBE\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>14-16 February 2022 (Monday-Wednesday): Egypt Petroleum Show, Egypt International Exhibition Center, New Cairo, Egypt.<\/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><strong>**Note to readers:<\/strong> Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish below between the actual holiday and its observance.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":556960,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-556959","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"e29ac8f3-8255-4881-aed7-1a51dcdee389","teaser":"","photo_url":"https:\/\/ent.news\/2021\/9\/11.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 Amethis hits first close on fund with big Egypt earmark + Amazon opens mega-facility outside Cairo - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/issues\/enterprise-amethis-hits-first-close-on-fund-with-big-egypt-earmark-amazon-opens-mega-facility-outside-cairo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Enterprise Amethis hits first close on fund with big Egypt earmark + Amazon opens mega-facility outside Cairo\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/issues\/enterprise-amethis-hits-first-close-on-fund-with-big-egypt-earmark-amazon-opens-mega-facility-outside-cairo\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T01:30:15+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/11.jpg?fit=%2C&ssl=1\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/issues\/enterprise-amethis-hits-first-close-on-fund-with-big-egypt-earmark-amazon-opens-mega-facility-outside-cairo\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/issues\/enterprise-amethis-hits-first-close-on-fund-with-big-egypt-earmark-amazon-opens-mega-facility-outside-cairo\/\",\"name\":\"Enterprise Amethis hits first close on fund with big Egypt earmark + Amazon opens mega-facility outside Cairo - 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